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World’s Richest Men Updated list

To acquire the ‘wealthiest person on earth’ title or enter the ‘World’s Richest Men’ list demands more than just a homogeneous portfolio. Billionaires are stinking rich individuals, with assets ranging from cash and cash equivalents, real estate, as well as business and personal properties.

You’re never going to amass such wealth being a white collar worker. Even if you work a hundred jobs, you might wither off before you enjoy said wealth. These rich as Croesus entities sink their money in the unpredictable oceans of stocks, bonds, and other types of stable investments. They take impossibly high and calculated risks.

Who Publishes The World’s Richest Men List?

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The Real-Time Billionaires List otherwise known as World’s Billionaires List is the ranking of the world’s wealthiest billionaires based on their recorded net worth. It is curated and published annually every March by American business magazine Forbes. The inaugural edition of the list was released in March 1987.

The net total worth of each person on the list is approximated and specified in US dollars. This is based on their documented assets and accounting for debt and other determinants. These lists only show the top 10 wealthiest billionaires for each year. Although, excluded from these lists are Royalties and Dictators who amass wealth from their status.

It’s Not Just Men On The Billionaires List

To most people, the richest individuals alive are men and contrary to this otherwise spurious impression, women are snugly nestling at the top of Forbes’ elite ladder. There were 328 women on the world’s billionaires list as of 17 March 2021 and 327 as at 2022. Below are some of the top three richest women in the world.

Françoise Bettencourt Meyers

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The billionaire heiress, Françoise is the richest woman in the world, with an estimated net worth of $74.6B as of August 2022. Born and raised catholic, she’s the granddaughter of L’Oréal founder, Eugène Schueller. Her mother Liliane Bettencourt died in 2017 and Françoise inherited her wealth despite all the scandals, tragedies and controversies. The French businesswoman is married to Jean-Pierre Meyers, the grandson of a rabbi murdered at Auschwitz and they have two kids. Françoise is also a writer, philantrophist, pianist and has written various commentaries on the bible.

Alice Walton

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Second on the list is Alice Walton. An American heiress and the only daughter of Walmart founder and magnate, Sam Walton. She’s ranking 19th on the Forbes Real Time list with a whooping net worth of $61.7B as of August 2022, making her the 20th-richest person, and the second richest woman in the world. The 72 year old billionaire’s interest in art led her to develop the Crystal Bridges Museum Of American Art. In 2019, she lost the top spot on the list to L’Oréal heiress, Francoise Bettencourt Meyers. Also, in September 2016, she owned over US$11 billion in Walmart shares and Walton has donated millions of her shares to arts and other charitable causes.

Julia Koch

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Julia Margaret Flesher Koch is the third richest woman in the world. She inherited 42% stake in Koch industries when her husband David Koch died in August 2019 at age 79. Julia Koch’s family came from a farming background in Iowa. She worked her way up from her parent’s clothing store, as a model, fashion designer’s assistant to becoming one of the wealthiest women on earth. As at August 2022, her net worth is $57.9B and she ranks 21 on forbes real time billionaires list.

Here are the list of the world’s richest men according to Forbes real time billionaires list 2022

Profile Of The World’s Richest Men 2022

Elon Musk

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Business mogul Elon Musk is the richest man in the world, with a staggering net worth of $272B as of August 2022. The industrialist surpassed Jeff Bezos, the founder of Amazon, who was in the number one position in 2021. He co-founded six companies including electric car maker Tesla, rocket producer SpaceX and tunnelling startup Boring Company. SpaceX, founded in 2002, is worth $127 billion while the Boring Company, which aims to defeat traffic, is worth $5.675 billion. Twitter’s board agreed to sell the company to Musk for $44 billion in April 2022, after he disclosed a 9.1% stake and threatened a hostile takeover.

Bernard Arnault family

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Next on the world’s richest men list is Bernard Jean Étienne Arnault with a net worth of $171.4B. The French business magnate, investor, and art collector is the co-founder and CEO of LVMH, Louis Vuitton and Sephora. Recently, he acquired Tifanny & Co for $15.8 billion and these are just a few of his multitudinous investments.

Jeff Bezzos

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Right out of his garage, business tycoon Jeffrey Preston Bezos built his empire. He is the founder, executive chairman and former president and CEO of Amazon which he almost named “Cadabra”, thankfully he didn’t. He is the third on the world’s richest men list.

Jeff Bezos equally has a net worth of $167.1B as of august 2022,. Meanwhile in August 2020, Bezos became the first person in contemporary history to accumulate a fortune of over $200 billion. Also in 2018, he was the wealthiest person in the world in 2018 when his net worth doubled, jumping from $81.5 billion in October 2017 to $160 billion the following October, thanks to Amazon’s soaring stock price. The Amazon bigwig stepped down in 2021 from his position as CEO to become Executive Chairman of the Amazon Board. His rationale for this action was to focus Day 1 Fund, Bezos Earth Fund, Blue Origin, The Washington Post, among his other interests.

Gautam Adani & family

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The 4th richest man in the world is Indian billionaire industrialist Gautam Shantilal Adani worth around $135.9B. He is the richest man in India and all of Asia. Gautam Adani is the CEO of Adani Group which deals on ports development, real estate as well as power generation and transmission. The infrastructure tycoon has plans of becoming the world’s largest producer of green energy and has also said he will invest up to $70 billion on renewable energy projects.

Bill Gates

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William Henry Gates III is an American business mogul, software developer, investor, author, philanthropist and co-founder of Microsoft. He wrote his first software program at 13 and when he was 19, started Microsoft with his now late childhood friend Paul Allen. From 1995 to 2017, he held the Forbes title of the richest person in the world every year. In 2017, Amazon founder Jeff Bezos outranked Gates to become the wealthiest in 2017. He later resigned as the Chairman of Microsoft to focus on his philanthropic endeavours on climate change, global health, and education. He was married to Melinda gates until the duo parted in 2021 amid a myriad of unhealthy reasons.

Larry Ellison

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Lawrence Joseph Ellison is the co-founder, chief technology officer and former CEO of American colossal software company, Oracle. The college dropout started out by building databases for the CIA and also expanded to purchasing and owning stakes in NetSuite, Tesla, Astex Pharmaceuticals among others. After 37 years reins on the technology company, Ellison assumed the position of CTO and executive chairman. His current net worth is $109.9B and he’s the 6th world’s richest men list. In addition, Ellison has donated several million dollars to charitable causes. He has been married and divorced four times with four kids but is currently in a relationship.

Warren Buffet

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We cannot curate a list of successful people in the world without including the eminent Warren Edward Buffett. He is an investor and the current CEO of Berkshire Hathaway, a holding company for a multitude of businesses in insurance, freight retail transportation, energy generation and distribution, manufacturing etc. Warren is currently the seventh on the world’s richest men list with a net worth of $106.6B. He is popularly known as the ‘Oracle of Omaha’ and aims to donate 99% of his wealth to philanthropic causes.

Larry Page

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American computer scientist Lawrence Edward Page is the eight richest man in the world. He is worth over $103.5B . The alpha geek co-founded Google with Sergey Brin and was the CEO from 1997 until 2001. Page subsequently moved to google’s parent company Alphabet and was the CEO before stepping down in 2019. Page has invested in Tesla and several other investments including renewable energy technology.

Sergey Brin

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Ninth on the list is Sergey Mikhailovich Brin. An American business tycoon, computer scientist, and internet entrepreneur. He was born to Russian Jewish parents and his father is a retired mathematics professor at the University of Maryland. Sergey co-founded Google with Larry Page in 1998 after the two met at Stanford University while studying for advanced degrees in computer science. In 2015 he became the CEO of Alphabet, Google’s parent company and later gave up his role as president in 2019 but still remains a shareholder and board member. Sergey has been married and divorced twice with three children. His estimated net worth as at August is $100.4B.

Mukesh Ambani

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Mukesh Dhirubhai Ambani is our tenth wealthiest man in the world with a current net worth of $96.2B. He is the founder and chairman of Reliance Industries, a business his later father who was a textile trader back in the 70s started. After obtaining a degree in Chemical Engineering, he enrolled for an MBA at Standford University but withdrew in 1980 to help his father start Reliance. Mukesh launched reliance’s Jio, a 4G phone and broadband service in 2016 and today, investors in Jio include Google and Facebook.

September 7, 2022
What’s Inflation – Upshot Of It On Future Of Stock Market

Inflation is an extensively used word that most people have heard, yet few truly make sense of. What’s Inflation?.

Simply put, inflation is the rise in prices of goods and services over time.

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The rise can be due to increase in production cost and upsurge in demand of these products and services. Across the world, it poses a significant challenge because it makes money saved today less valuable tomorrow. It is calculated using a myriad of economic indexes including the consumer price index (CPI) and the producer price index (PPI).

Consumer Price Index

The consumer price index measures price changes from the perspective of the consumer and tracks price changes in various goods and services. It is published each month in the Official Journal.

Producer Price Index

The producer price index looks at price changes from the seller’s perspective by measuring the prices that companies pay for the the raw materials that are used to produce goods. The PPI is beneficial because price escalations usually starts in the supply chain when the costs of production shoots up.

What Triggers Inflation?

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The causes vary across countries and it does not impact everything the same way.

Demand-Pull Inflation

This is the most common cause of price increment and occurs when there is a huge consumer demand for products and services. It is also known as price inflation. If the economy demands more goods and services than are available, it fuels demand-pull inflation.

With the growing economy and global expectations of inflation which drives people to purchase things to avoid higher future prices, there is ultimately increase in demand. Alternatively, when government monetary policies cannot manage the growth rate of money supply in an economy, it drives hyperinflation. Hyperinflation is the oversupply of physical cash without corresponding increase in production of goods and services. Fiscal policy, technological innovation etc, also creates demand-pull.

Cost Push Inflation

Cost push inflation results from increase in cost of production and prices of inputs like raw materials, labour, marketing, rent, supplies etc. Here, the demand for goods and services remains the same or it increases but the supply dwindles. Which causes rise in prices of goods and services.

This type of inflationary trend is rare because demand usually declines before cost push commence. Natural disasters, supply chain disruptions and exchange rates fluctuations can also bring about cost push inflation.

What’s inflation doing to the world’s vulnerable?

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Inflation lowers purchasing power, values of pensions, savings and treasury bonds. The people who will inordinately suffer from the price upsurges include low-income consumers with fixed wages, because their income remains static while prices of gas, electricity and food escalates.

Conversely, there are several uncertainties and worries for those planning towards retirement. A retiree with $1 million saved for retirement who expects to spend $50,000 annually. Assuming 3% annual inflation and a steady 3% rate of return, that $1 million would last for 20 years. But if inflation rose to 12% a year, $1 million would run out in 11 years and nine months—and that’s a good reason to be distressed.

Is No One Benefiting?

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Inflation sometimes has healthy side effects. High rates makes it easier to pay back outstanding debt. Over time, the value of the debt will reduce, since the amount borrowed will not be worth as much. The government find it easier to reduce the real value of its debt.

Inflationary spirals sometimes influences job growth. Economist A. W. Philips hypothesised that when inflation is high, unemployment is low and vice versa. When job recruitment is high, more people are working and they have purchasing power which ultimately lead to increase in demand and prices soar. On the hand, When less people are working, their purchasing power decreases which leads to decrease in demand and deflation.

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Assets like real estate serves as a buffer. If you own assets in housing before inflation rises, it will benefit you. Although there are limitations to this – realtors and landlords increase rents during demand-pull inflation as expected, but will find it hard to do so in cost push inflation.

Fixed-rate mortgage owners also benefit from inflation because the value of monthly mortgage payments will decrease gradually.

Other potent hedges against inflation is investments in raw material, agriculture, commodities and gold.

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The Future Of The Stock Market

High inflationary spirals creates uncertainties for banks and companies. There is a reluctance to invest and this can impair the economy’s long-term performance. If inflation is minimal and predictable, it is easier to reduce its impact. Unexpected price hikes is the most upsetting.

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How does this affect the stock market?. It leads to soaring stock prices. The sky-high prices of inputs during inflationary times propel most companies to experience lower profit margins, which negatively affects stock prices. The effects of inflation on stocks in the short run can be more catastrophic than the long run. That is to say that, value of stocks can appreciate over an inflationary period and the goods and services it can be exchanged for remains constant despite higher prices. Although some type of stocks perform better during inflation. Value stocks tend to perform better when rates are high and growth stocks perform better when rates are low. Value stocks are found in sectors like energy, financials, industrial and are less expensive. It is often preferred to growth stocks for investors because of lower risk, lower share prices and dividend income.

September 5, 2022
BlackBerry Priv sales out

BlackBerry (BBRY) is a mobile company that has been failing miserably to keep up with relevance with competitors like Android and iPhone. Several months back, however, BlackBerry took the oath of “if you can’t be em’: join em’” and released the BlackBerry Priv: their first Android powered smartphone with classic BBM apps, and Android 5.0 Lollipop; all while boasting touchscreen and the classic keyboard.

While some folks have had their doubts about the phone, or BlackBerry’s chance to become relevant again in the market have been quite slim, news today from Walmart and Best Buy retailers show that the Android-powered device is garnishing a reputation. The two stores (while not immediately sharing sale figures/comments) have restocked the device onto the shelves on Friday – all this while the stock priced jumped up 7% alonside the news.

The Priv has become the surprising hit from a company who has had many failures in their lineup; and this could be partly due to its unique design (touchscreen + keyboard) and/or Android 5.0 Operating System. With the stock jump and stock shipment, BlackBerry might be in for a very good future of possibly becoming known in the mobile market again; and hopefully bringing challenge to fellow Android product developers, such as Samsung and LG. However, it could take just one major mistake in the Priv device or a quick lack of interest to cause the company to consider leaving mobile hardware all together.

“Anyone who has been watching closely at what I’ve been trying to do at BlackBerry has surely heard me say that we would not stay in the device business if we were not profitable,” CEO John Chen wrote in a blog post earlier this year. “That said, we are doing everything possible to make our devices profitable.”

What are your thoughts on the sales of the rather new BlackBerry Priv? Leave your thoughts below.

December 11, 2015