Tag Archives: richest

Economic inequality between the richest and poorest Americans is continuing to widen, boosted by the fallout of the coronavirus pandemic. According to data from the Federal Reserve, household wealth among the top 1% of Americans grew from $17.08 trillion in Q3 2010 to $35.3 trillion in Q3 2020, and currently sits at $42.13 trillion. (Wealth is defined as the value of all assets of worth owned by a person or entity, while income is the money that the person or entity received in exchange for… Source link

A tenth of last year’s list failed to make the cut in 2022. A handful lost their billionaire status altogether. It was a bit easier to make The Forbes 400 list of America’s richest people this year, with the minimum net worth dropping by $200 million, to $2.7 billion. Still, amid surging inflation and recoiling markets, 41 members of the 2021 Forbes 400 lost their spot among this elite set in 2022. Six lost their billionaire status altogether, while another five members of last year’s… Source link

Elon Musk said in a video interview that he doesn’t own a home and is “staying at friends’ places.” The world’s richest man also doesn’t own yachts or take vacations, but has a plane to save time. Musk was responding to a comment about how many people criticize billionaires for their wealth. The world’s richest man said that he doesn’t own a home and crashes on friends’ couches. “I don’t even own a place right now, I’m literally staying at friends’ places,” Elon Musk said in a video interview… Source link

Walmart heirs to candy conglomerates: These are the 25 richest families in the US The new film House of Gucci may be a sensational story of madness, glamour and greed, but you don’t need to look far to find equivalents here in the U.S. The wealthiest dynasties in America have also seen many bitter battles over inheritance and power, though some have quietly risen to the ranks of the elite without too much media scrutiny. Last year Forbes released a list of the richest families in the country,… Source link

Amazon (AMZN) CEO Jeff Bezos is no longer the richest person in the U.S. That honor now goes to Elon Musk. Musk, the CEO of both SpaceX and Tesla (TSLA), holds a net worth of a whopping $299 billion. Formerly a resident of California, Musk relocated to Texas this year, also making him the richest resident of the state. He stated that his reason for moving was due to Texas having no income tax while California’s is the highest in the country. Tesla CEO Elon Musk talks during a tour of the… Source link

(Bloomberg) — Some of Southeast Asia’s old-money tycoons are boosting investment in technology startups, looking to ride a wave of surging valuations as they seek to counter the fallout of the pandemic on businesses ranging from retail to hospitality and manufacturing. Most Read from Bloomberg Holding companies, family investing arms and other vehicles of moguls from Thailand’s Dhanin Chearavanont to the Philippines’ Lance Gokongwei are either plowing millions of dollars directly into… Source link

(Bloomberg) — The sale of Medline Industries Inc. to a consortium of private equity firms has brought one of the world’s wealthiest families into the limelight. The deal, valued at more than $30 billion, stands to rank among the biggest transactions ever involving a family-owned business. The proceeds from the majority investment by Blackstone Group Inc., Carlyle Group Inc. and Hellman & Friedman will largely flow to the Mills, a Chicago-based clan who’ve been in the medical supply… Source link

Local Journalism Initiative One-third of Hamilton schools have reported COVID-19 cases. But we’re doing better than most Ontario cities At a time when COVID-19 cases are rising in Hamilton and across the province, the latest case numbers reveal that Hamilton’s school system is faring better than those in other Ontario municipalities.  As of Wednesday, a total of 119 cases had been reported across 64 schools in Hamilton since September — the equivalent of one-third of Hamilton schools. … Source link