Technology Wealth Wipeout Reshapes Ranks of World’s Richest People
Millionaires at the World Economic Forum are demanding higher taxes: Don Pittis
Patriotic Millionaires, an exclusive U.S. club that also includes billionaires, released a letter at the World Economic Forum in Davos, Switzerland, demanding elites add their names to a new plan to make the world a better place through tax reform.Yesterday, Patriotic Millionaires, the exclusive U.S. club that also includes billionaires, released a letter at the World Economic Forum in Davos, Switzerland, demanding that the global rich add their names to a new plan to make the world a better place through global tax reform.
(Bloomberg) -- The wealth destruction caused by Monday’s market collapse is reshaping the ranks of the world’s richest people.
Wildcatter Harold Hamm’s fortune plunged 35% to $3 billion at 11:06 a.m. in New York, a drop that would bump him from the 500-member Bloomberg Billionaires Index if it holds through the close of trading. Fellow oil magnate Jeff Hildebrand is also set to fall off the ranking while Lukoil PJSC executives Leonid Fedun and Vagit Alekperov lost a combined $5 billion.
While these energy moguls are taking the biggest shellacking in percentage terms, losses have cascaded across industries and continents.
Dressing rooms of the rich and famous
The world's most glamorous celebs require some pretty impressive walk-in closets to hold all those opulent outfits and extensive collections of bling. From Kris Jenner’s one-stop-shop to Kate Hudson's shoe sanctuary, these jaw-dropping walk-in closets are the height of luxury.
India’s Mukesh Ambani, who began the week as Asia’s richest person, lost $5.7 billion, and Frenchman Bernard Arnault, chairman of luxury-goods giant LVMH, led Europe’s decliners with a $4.2 billion drop. Amazon.com Inc. founder Jeff Bezos and Berkshire Hathaway Inc.’s Warren Buffett are both down $4.4 billion. Carnival Corp. Chairman Micky Arison’s stake in the beleaguered cruise line operator slid 16% to $2.1 billion.
The world’s 500 richest people lost a combined $203 billion through the first 96 minutes of trading in the U.S. That’s the biggest daily plunge since the index began tracking the number in October 2016. The losses include declines in publicly traded assets and estimated drops in the values of private companies -- as is the case with Hildebrand’s Hilcorp Energy -- that Bloomberg calculates using public peers. More than a half-trillion dollars has been erased from the combined fortunes of the top 500 so far in 2020.
When do people get married around the world?
Italians get married, on average, five year later than Americans.According to the international marriage data collected by the United Nations, the average Italian person now gets married at almost 34 years old.
“The near-term market focus is likely to remain on the virus’s spread across Europe and the U.S., and on stress in the financial markets,” Mark Haefele, UBS Group AG’s chief investment officer of global wealth management, said in a note to investors.
Today’s losses could have been deeper, and they still may be before the day is done. Each of the three major U.S. stock indexes opened down more than 7% in the first seconds, triggering a trading halt. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite Index pared the declines to about 5% heading into the lunch hour as investors absorbed the prospect of an oil price war triggered by the breakup of the OPEC+ alliance and mounting concerns about how the spreading coronavirus will affect the global economy.
While about 85% of the people on Bloomberg’s wealth ranking were nursing losses Monday, there were some winners, including the Walton family, as investors seeking safe havens boosted shares of retailer Walmart Inc.
OM: An eye on Rony Lopes?
© Provided by Sports.fr Rony Lopes Underused in the ranks of Sevilla FC (12 appearances this season for only six tenure), Rony Lopes could return to Ligue 1 shortly. According to Diaro de Sevilla, the Andalusian club would not retain this summer the Portuguese, however bought 25 million euros from ASM during the last off-season. A winger […] Underused in the ranks of Sevilla FC (12 appearances this season for only six tenure), Rony Lopes could make his return to Ligue 1 shortly.
China’s Qin Yinglin added $537 million to his net worth as shares of his Muyuan Foodstuff Co. rose 4%. Li Xiting, chairman of Chinese medical equipment maker Shenzhen Mindray Bio-Medical Electronics, gained $144 million, bringing his net worth to $14 billion.
--With assistance from Jack Witzig and Tom Maloney.
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‘Wipeout’ Revival Lands at TBS, Which Promises New Twists and the Return of Big, Red Balls .
The big balls are back. TBS has given a 20-episode order to a reboot of “Wipeout,” the obstacle course reality competition that originally aired on ABC between 2008 and 2014. Given the current worldwide production shutdown, it’s unclear when the new “Wipeout” might eventually make it to air. But when it does, TBS is promising an even more bruising obstacle course. “The re-imagined series will feature new format twists and elements that will push contestants’ athleticism and willpower to even greater extremes, all while delivering some pretty epic fails,” according to a TBS press release.
10 Potential Global Superpowers
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