Most Richest Person On Earth – Bill Gates (L) briefly outperformed Bezos (R) on an intraday basis last month after Amazon posted its first profit decline in two years.
Microsoft Corp. co-founder Bill Gates overtook Amazon.com Inc.’s Jeff Bezos as the world’s richest person on Friday, reclaiming the top spot for the first time in more than two years.
Most Richest Person On Earth
Gates may have been helped in part by the Pentagon’s surprise decision, announced on October 25, to award a $10 billion cloud computing contract to Microsoft through Amazon. Microsoft shares have risen 4% since then, giving Gates a fortune of $110 billion, according to the Bloomberg Billionaires Index. Amazon shares have fallen about 2% since the announcement, bringing Bezos’ net worth to $108.7 billion.
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Gates, 64, had briefly outperformed Bezos, 55, on an intraday basis last month after Amazon posted its first profit drop in two years, but shares of the world’s largest online retailer made up for the drop . The index, which tracks the wealth of the richest 500 people, is updated each trading day after the US stock market closes. Europe’s richest person, Bernard Arnault, is third with $102.7 billion.
Microsoft is up 48% this year, adding value to Gate’s 1% stake. The rest of his fortune comes from stock sales and investments his family office Cascade has made over the years.
Bezos would be much richer if he and MacKenzie Bezos didn’t get divorced. The couple announced their split in January, with MacKenzie, 49, receiving a quarter of her Amazon holdings in July. His net worth fell to $35 billion on Friday. Gates, on the other hand, might never have given up the top spot if not for his philanthropy. Since 1994, he has donated over $35 billion to the Bill & Melinda Gates Foundation.
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Gates recently shared his thoughts on the wealth tax proposed by some Democratic presidential candidates, including Elizabeth Warren, and said he has already paid more than $10 billion in taxes.
“If I were to pay $20 billion, that would be fine,” he said. But “when you tell me to pay 100 billion dollars, I start to do a little calculation on what I have left”.
Bill Gates recently said his “biggest mistake of all time” – worth an estimated $400 billion – was not developing Android at Microsoft. A look at the remorse of other businessmen.
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In April 2018, Mark Zuckerberg told reporters he made a “big mistake” in not seeing enough of Facebook’s accountability to the world. This statement was also linked to the Cambridge Analytica scandal, in which the data mining company misused data to influence elections. In March 2018, Zuckerberg said “one of Facebook’s biggest mistakes” was not digging into the Cambridge Analytica scandal.
2015 marked the 50th anniversary of Warren Buffett and his partners’ decision to take control of Berkshire Hathaway. In his letter to shareholders, Buffett shared his biggest investing mistakes. He said buying Berkshire was a “monumental stupid decision” and that he only bought the company because it was cheap. Buffett continued to invest money in Berkshire textile mills, eventually ceasing operations in 1985.
In July 2015, Ratan Tata, chairman of Tata Trusts and former director of Tata Sons, said his biggest mistake was calling the nano car the cheapest instead of the “cheapest”, which was the intention. of the company. Marking the car as the cheapest has a negative impact on the market, he said. “Success comes from making decisions that you believe are right,” Tata said.
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In March 2018, Elon Musk attended a Q&A on South by Southwest. Responding to various questions, the Tesla CEO said the biggest career mistake he made was not engaging with Tesla in the beginning. From 2004 to 2008, Musk was a major investor in Tesla, but he was CEO of SpaceX, a space exploration company. Speaking at the event, Musk said, “I think that was probably the biggest mistake of my career. Any time you think you can have your cake and eat it too, you’re probably wrong.
Don’t miss any ET Prime stories! Get your daily dose of business updates on WhatsApp. Click here! And when it comes to the pecking order of global wealth, the new year has already delivered. Just six days later, Elon Musk had already passed Jeff Bezos to become the richest person in the world in 2021 with a personal net worth of $188 billion.
Since the stock market bottomed in March 2020, Tesla shares have soared 1,030% to $816 per share. Elon Musk owns about 241 million of these shares, which accelerates his wealth creation in a short time.
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The prosperity boom has been so productive for Musk that it has left other billionaires in the dust.
A year ago, he wouldn’t have cracked the top 20 list – but with wealth up 548% from a year ago, he now tops the list as the richest person in the world.
Is this a temporary bump, or will Elon Musk remain at the top of the list of the world’s richest people for the rest of 2021?
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Really, it’s all about how Tesla’s share price performs – and those who have bet against Tesla over the past few years don’t have a great track record to fall back on.
However, price swings can go both ways, and if Tesla stock tumbles, it’s possible that Musk’s rank in the billionaire pecking order will plummet with him.
Notes: Net worth numbers on the tracker are updated frequently, so current data may not match that of this article.
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Datastream How Gen Z Thinks About Their Financial Future Despite Looming Uncertainty, Gen Zers Remain Optimistic About Their Financial Future
From the rising cost of living to the impact of the pandemic, Gen Z has been hit with multiple crises upon entering the workforce.
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For starters, the rising cost of education and the resulting increase in student debt has caused many Gen Zers to question the value of a post-secondary education. Meanwhile, widespread layoffs and economic uncertainty raise concerns about job stability. Moreover, fear of climate change is a very real factor influencing how younger generations view their future prospects.
A survey by Morning Consult – visualized in the graph above – found that while Gen Z may be more uncertain about their financial future than ever, most believe they will be better off financially than their parents. , or even equal.
Generation Z is an optimistic and driven generation. Many young people in this generational cohort are turning to entrepreneurship and hustling to supplement their incomes and build a better future for themselves.
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When asked how they would fare financially compared to their parents, it stands to reason that 38% of Gen Zers surveyed by Morning Consult thought they would be better off than their parents. 43% think their financial situation will stay the same and only 19% think it will get worse.
Regardless of gender and race, four out of five Gen Zers said they were better off than their parents, if not the same.
So while many of the stories we hear about Gen Z’s outlook are framed in a negative way, this generation is more optimistic and determined than you might expect.
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Notes on the data: The survey was conducted from November 2 to 8, 2022 among a representative sample of 1,000 US respondents aged 13 to 25, with an unweighted margin of error of plus or minus 3 percentage points. percentage. Figures may not add up to 100% due to rounding.
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The people on this list belong to an even more exclusive club and wield even more power. Many are the founders of tech giants, with much of their wealth still invested in the companies they founded.
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However, these billionaires can still borrow against these assets to avoid selling stocks while deferring (or removing for heirs) taxes on unrealized capital gains. Multi-billionaires can also take advantage of a range of tax deductions to offset reported income, with some leftovers
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