Tag: /worlds-billionaires

Their Foundation Flush With New Cash, Texas Family Pledges $1 Billion To Education

The pyramids of Moody Gardens. getty The three glass pyramids at the heart of 240-acre Moody Gardens on Galveston Island, rise 100 feet, and are home to an aquarium, rainforest and IMAX theater. Also within the complex is a golf course, convention center, and a vast water park with a beach made of sand barged […]

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Chinese Food-Delivery Billionaire Wang Xing Suffers $6.6 Billion Wealth Plunge As Growth Wanes

Wang Xing, founder and CEO of Meituan. Visual China Group via Getty Images Wang Xing, the founder of Chinese food-delivery giant Meituan, has seen his wealth plunge by a whopping $6.6 billion this year, as the Beijing-based company struggles to find faster growth amid lackluster consumption and heightened competition. The 44-year-old mogul still has a […]

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Hong Kong Property Market Enters A Great Stagnation

Hong Kong’s skyline is dominating by the towers built by the city’s largest property developers. getty Hong Kong’s property market has long been a major source of wealth. The city’s billionaire ranks are dominated by developers who got rich by acquiring sizable land banks that allowed them to manage land costs and boost profit margins. […]

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Indian Conglomerate Murugappa Group Seeks To Enter Semiconductor Space

getty The 123-year-old Murugappa Group is looking to venture into the semiconductor segment with a proposed $790 million plant. This will be an interesting, high-tech addition to the $9 billion (revenue) engineering and financial services conglomerate, which is based in Chennai and operates in 29 industries ranging from auto components to finance to sugar. The […]

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Singapore’s OCBC Acquires Commonwealth Bank Of Australia’s Indonesian Unit For $142 Million

Helen Wong, group CEO of Oversea-Chinese Banking Corp. (OCBC). Ore Huiying/Bloomberg Oversea-Chinese Banking Corp., Southeast Asia’s second-largest lender by assets, has agreed to acquire Commonwealth Bank of Australia’s Indonesian unit for approximately A$220 million ($142 million). OCBC, which makes up the bulk of the billionaire Lee family’s fortune, will acquire CBA’s 99% stake in PT […]

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Petrochemicals Billionaire Prajogo Pangestu’s Windfall From Betting On Geothermal Energy Makes Him Indonesia’s Richest Person

Prajogo Pangestu has become the richest person in Indonesia. BARITO PACIFIC Petrochemicals and energy billionaire Prajogo Pangestu, 79, has become the richest person in Indonesia with his net worth zooming to over $40 billion, according to our Real-Time Billionaires List. That was more than a seven-fold increase from the World’s Billionaires List published earlier this […]

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Billionaire Quek Leng Chan’s Hong Leong, TPG To Buy Ramsay Sime Darby Healthcare For $1.2 Billion

The ParkCity Medical Centre in Kuala Lumpur, one of the seven hospitals operated by Ramsay Sime … [+] Darby Healthcare. Courtesy of Ramsay Sime Darby Healthcare A joint venture between Malaysian billionaire Quek Leng Chan’s Hong Leong Group and funds managed by U.S. private equity firm TPG have agreed to buy Ramsay Sime Darby Healthcare […]

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Billionaire Pham Nhat Vuong’s VinFast To Raise $1 Billion Selling Shares To Hedge Fund Yorkville

VinFast’s factory in the northern Vietnamese port city of Hai Phong is capable of churning out … [+] 300,000 EVs a year. VinFast VinFast Auto—the electric vehicle maker controlled by Vietnam’s richest person, Pham Nhat Vuong—has signed a standby equity subscription agreement to sell as much as $1 billion of the company’s shares to Yorkville […]

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Billionaire Ex-F1 Boss Bernie Ecclestone Pleads Guilty To Fraud

Topline Billionaire Bernie Ecclestone pleaded guilty to fraud on Thursday after British prosecutors accused him of hiding hundreds of millions of dollars worth of assets abroad, the latest in a line of scandals surrounding the controversial former Formula One boss. Bernie Ecclestone pleaded guilty to fraud in London. NurPhoto via Getty Images Key Facts The […]

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Mankind Pharma’s Founders Map Growth Plan After Pulling Off Major IPO

Juneja brothers eye a spot among top three sales leaders by focusing on expansion into bigger cities and selling more medications for chronic diseases. Rajeev Juneja recalls his first day in the pharmaceutical industry in 1984. He was 19 and had dropped out of college to work as a representative for the generic drugmaker that […]

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Former Edtech Star Byju Raveendran Drops Off From List Of India’s 100 Richest

Byju Raveendran Gayatri Ganju for Forbes Asia This story is part of Forbes’ coverage of India’s Richest 2023. See the full list here. After being among India’s 100 richest for four years, math tutor-turned-edtech entrepreneur Byju Raveendran, 43, is a notable dropoff this year. Battered by challenges, including an auditor’s resignation over long overdue financial […]

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Supplying Garments To H&M, Marks & Spencer, Earned This Farmer’s Son A Place Among India’s Richest

This story appears in the October 2023 issue of Forbes Asia. Subscribe to Forbes Asia K.P. Ramasamy Courtesy of K.P.R. Mill Limited This story is part of Forbes’ coverage of India’s Richest 2023. See the full list here. From the southern Indian city of Coimbatore, K.P.R. Mill churns out 128 million garments annually—from sportswear to […]

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Singapore Tycoon Loo Choon Yong’s Raffles Medical To Buy Majority Stake In Vietnam Hospital

Loo Choon Yong at Raffles Hospital in Singapore. Wei Leng Tay/Bloomberg Raffles Medical Group—controlled by tycoon Loo Choon Yong—has agreed to buy a majority stake in the American International Hospital (AIH) in Ho Chi Minh City as the healthcare company seeks to expand its operations beyond China and Singapore. “This expansion will build stronger resilience […]

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Evergrande’s Embattled Billionaire Hui Ka Yan Now Under Police Control: Bloomberg

Hui Ka Yan, chairman of China Evergrande Group. (Photo by Paul Yeung/Bloomberg) © 2019 Bloomberg Finance LP Hui Ka Yan, the billionaire chairman of China Evergrande Group, has been placed under police surveillance, according to a Bloomberg report. The property mogul was taken away by Chinese police in early September, and is now being monitored […]

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Clarence Thomas Repeatedly Went To Koch Fundraisers—And Mingled With Donors—As Network Brings Supreme Court Cases, Report Says

Topline Supreme Court Justice Clarence Thomas has participated in at least two donor events for the influential Koch network without disclosing it, ProPublica reports—and hung out with the Koch brothers at a private retreat for the wealthy—the latest in a string of ethics scandals over Thomas’ association with wealthy friends, which also raises questions about […]

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Billionaire Richard Li-Backed Singapore Insurtech Unicorn Bolttech Adds $50 Million To Series B

Rob Schimek, group CEO of Bolttech. COURTESY OF BOLTTECH Singapore-based Bolttech, backed by Hong Kong billionaire Richard Li, raised an additional $50 million in Series B funding for a total of $246 million—which it says is the largest ever Series B round for an insurtech. The additional funding came from LeapFrog Investments, a Temasek-backed private […]

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Outdoor Long Table Prix Fixe Dinners Are Becoming The New Concert Ticket Alternative

Rancho Valencia’s path to their Chef Rick Bayless Dinner Madeline Claire In a world where concert and theater tickets are quickly approaching $250 for an experience in which you watch something together with the rest of the attendees, there is a rising interest in taking part in a fully interactive social dining event. Rick Bayless’ […]

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Shoe Seller HeyDude To Pay $1.95 Million In Settlement With FTC Over Cherry-Picking Product Reviews

HeyDude shoes: The company reached a settlement with the FTC over suppressing negative reviews Crocs C omfort shoe maker HeyDude agreed to pay $1.95 million to the Federal Trade Commission to settle charges that it misled consumers by keeping negative product reviews off its website, the agency announced on Monday. The FTC said that the […]

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