Jeff Bezos has gotten about $7 billion richer so far today as Amazon is trading up 3.5% and Elon is up 13-14% in his Tesla holdings. UPDATE- Tesla stock ended up down for the day. So Elon is back to about 7th or 8th with about $68 billion. Bill Gates is second richest at $111.8 …
Apple, Microsoft and Amazon are close to passing Saudi Aramco for the most valuable company in the world. Aramco is valued at $1.72 trillion Apple is valued at $1.66 trillion Microsoft is at $1.62 trillion Amazon is at $1.60 trillion The future is technology and technology is winning over old industries. Jeff Bezos is nearing …
In 2019, the population of very high net worth [VHNW] (those between $5 million to $30 million of net worth) increased by 10% to 2.7 million. The combined net worth of VHNW individuals also increased by over 10%, to $26.6 trillion. This is according to WealthX. There are 22.2 million people with between $1-5 million …
Jeff Bezos launched the Bezos Earth Fund with an Instagram announcement. Bezos said Climate change is the biggest threat to our planet. I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share. This global …
Paul Krugman wrote an opinion piece where he rants against future radical life extension. Krugman fears that it will only be available to billionaires. Krugman scenario is that Peter Thiel would still be alive, wealthy and healthy in 2067 when Peter is 100 years old. Sergey Brin would be 94 in 2067. Krugman’s bizarre fantasy …
Chinese customers, who still mainly buy luxury items on overseas trips, buy more than a third of luxury sector sale. They and other Crazy Rich Asians have helped boost the shares of LVMH. Chinese consumers purchased $121 billion worth of luxury goods in 2018 which was 32 percent of the worldwide total. This share is …
John D Rockefeller created Standard Oil, which built up the modern oil and refining industry. Standard Oil created massive price advantages and scale beyond its competitors. It grew by increasing sales and through acquisitions. In 1868, the Lake Shore Railroad, a part of the New York Central, gave Rockefeller’s a transportation rate of one cent …
NIO sells luxury electric SUVs in China for about US$60,000 each. NIO is at the intersection of several high growth markets in China. The high-growth markets are electric cars, luxury goods and a segment of very rich people. NIO provides all owners with an app to connect with other NIO owners. They also provide a …
Naval Ravikant (@naval) is the CEO and co-founder of AngelList. He has invested in more than 100 companies, including Uber, Twitter, Yammer, and many others. AngelList is a social media site whose mission is to connect startups with investors and investors with each other. The site makes money by taking a carry on all profits …
Bill and Melinda Gates provided their 2019 annual report and describe how they can make the world better over the next few decades. Africa Can Be Fixed and Provide Growth for the World Sub-Saharan Africa has the opportunity to invest in its young people. This will enable Africa to double its share of the global …
Is it good or bad to have a country with billionaires? Is an economy better without billionaires? Is there less poverty or richer people when there are no billionaires? Representative Alexandria Ocasio-Cortez, D-N.Y. said it is immoral to allow billionaires to exist in a society where others do not have access to healthcare. “I do …