Tag: Billionaires

Philippine Tycoon Enrique Razon’s ICTSI Posts 51% Jump In Q1 Profit

Enrique Razon giving an interview in Manila, the Philippines, on September 16, 2016. Veejay Villafranca/Bloomberg International Container Terminal Services Inc. (ICTSI) reported a 51% jump in net profit for the first quarter ended March 31 as global trade activities recovered from the Covid-19 pandemic. The Philippine-based port operator said net profit climbed to $90.1 million […]

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How The Gates’ Split Could Stack Up Against The Biggest Billionaire Divorces

Melinda Gates and Bill Gates speak on stage during The Robin Hood Foundation’s 2018 benefit at Jacob … [+] Javitz Center on May 14, 2018 in New York City. Photo by Kevin Mazur/Getty Images for Robin Hood Bill and Melinda Gates, the influential billionaire couple in charge of the world’s largest private foundation, are divorcing […]

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‘American Factory’ Owner Fuyao Glass To Raise $550 Million, Eyes Solar Market

Fuyao Glass Industry Group Chairman Cho Tak Wong. Photographer: Daniel J. Groshong/Bloomberg *** … [+] Local Caption *** Cho Tak Wong © 2012 Bloomberg Finance LP China-based Fuyao Glass Industry Group, whose U.S. plant was the subject of the Oscar-winning documentary “American Factory” in 2020, plans to raise to HK$4.3 billion, or $550 million, in […]

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Billionaire Philanthropist Eli Broad Dead At 87

Topline Eli Broad, who amassed a multi-billion-dollar fortune from his home-building and insurance businesses, and used his wealth to fund cultural improvements throughout his adopted hometown of Los Angeles, died Friday at age 87.  Eli Broad at the the 2016 MOCA Gala in Los Angeles, California. (Photo by Jason LaVeris/FilmMagic) FilmMagic Key Facts A spokeswoman […]

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Spotify’s Daniel Ek Says He Would Buy Arsenal If Billionaire Stan Kroenke Agreed To Sell

Spotify’s billionaire CEO tweeted that he’s interested in buying Arsenal from U.S. tycoon Kroenke, … [+] if he were to change his mind on selling the team. Toru Yamanaka/AFP via Getty Images Swedish billionaire Daniel Ek, CEO and cofounder of music streaming service Spotify, said on Friday that he would be open to buying English […]

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China Sportswear Billionaires Cut Anta Stake In Sale Nearing $1.5 Bln

Pedestrians walk past an Anta Sports Products store in Shanghai last month. Photographer: Qilai … [+] Shen/Bloomberg © 2021 Bloomberg Finance LP Only a few years ago, 2021 and 2022 seemed like a particularly promising years for sportswear sales in China.  The planned Summer Olympics in Japan were expected to attract viewership in the mainland; next […]

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This Billionaire Investor Thinks Elon Musk Will Be A ‘Trillion Dollar Man’

Veteran investor Ron Baron has made it big betting on Tesla. Now he’s turning his attention to SpaceX. Baron Capital Money manager Ron Baron has been delivering stellar returns thanks to one of the biggest holdings in Tesla. Here’s why he thinks Musk’s SpaceX will be even bigger. S ometimes it feels like it’s just […]

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Jack Ma’s Alibaba Hit With $2.8 Billion Fine For Abusing Its Dominant Market Position

Jack Ma, former chairman of Alibaba Group, appears at a forum in Tokyo, Japan, on December 6, 2019. Kiyoshi Ota/Bloomberg Alibaba Group was hit with the highest-ever antitrust fine imposed in China when the country’s regulator announced on Saturday that it had slapped a fine of 18.2 billion yuan ($2.8 billion) on the Hangzhou-based tech […]

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Florida Octogenarian Becomes A Billionaire After Investing In Celsius Energy Drink

Celsius Holdings stock surged almost 1,000% in 2020. Courtesy of Celsius Holdings Carl DeSantis was a few years removed from his big payday—the $1.8 billion sale of Rexall Sundown, the publicly traded nutritional vitamin company he founded—when his longtime business partner, Jim Steinhauser, brought him his first six-pack of a new sugar-free energy drink called […]

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Here’s The Richest Billionaire In Every U.S. State 2021

Warren Buffett, Jeff Bezos, Miriam Adelson, Elon Musk Michael Prince for Forbes (2), Bloomberg, Britta Pedersen Pool/Getty Images These 43 members of the three comma club represent over $1 trillion in collective wealth. Although pandemic quarantines forced the vast majority of Americans to shelter in place for most of 2020, some billionaires moved to greener […]

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Giant Ship Operated By Taiwan’s Evergreen Gets Partially Freed From Suez Canal

A handout picture released by the Suez Canal Authority on March 24, 2021 shows a part of the … [+] Taiwan-owned MV Ever Given (Evergreen), a 400-metre- (1,300-foot-) long and 59-meter wide vessel, lodged sideways and impeding all traffic across the waterway of Egypt’s Suez Canal. Suez Canal Authority/Handout/AFP via Getty Images After almost a […]

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Why iPhone Maker Foxconn And Vietnam’s Vingroup Could Team Up On Electric Vehicles

Terry Gou, Chairman of Foxconn Technology Group. China Photos/Getty Images Foxconn, the world’s largest contract assembler of consumer electronics, has begun discussions with Vingroup, the largest conglomerate in Vietnam, about working together in the fast-growing field of electric vehicles. A spokesman for Hanoi-based Vingroup confirmed that the company had “received proposals” from Foxconn but said […]

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Hong Kong’s Richest Person Sees Profit Drop Amid Pandemic Woes

Li Ka-shing gives an interview at Cheung Kong Center on March 12, 2018 in Hong Kong, China. Guo Xianzhong/Caixin Media/Visual China Group via Getty Images Hong Kong billionaire Li Ka-shing’s flagship firms reported that their annual profits were dragged down last year due to the “unprecedented challenges” of the coronavirus pandemic. CK Hutchison experienced its […]

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La, La, La, La, Kanye West Got His Money Right—Now Worth $6.6 Billion, Reportedly Richest Black Man in the U.S.

Kanye West speaks on stage at the “Kanye West and Steven Smith in Conversation with Mark Wilson” on November 07, 2019.Photo: Brad Barket/Getty Images for Fast Company (Getty Images) Remember when Kanye West first burst into the mainstream scene and referred to himself as “Kanye Cheddar?” Well, now he has a lot of damn cheese. […]

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Turns Out, Kanye Is Not the Richest Black Man in America [Corrected]

Kanye West speaks on stage at the “Kanye West and Steven Smith in Conversation with Mark Wilson” on November 07, 2019.Photo: Brad Barket/Getty Images for Fast Company (Getty Images) Correction: 3/18/2021, 12:15 p.m. ET: *record scratch* Laaaaaa, la, la, laaaa wait ‘til we (and a bunch of other media) get our wealth valuations wrong. Kanye […]

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South Korea’s SK Group Makes Biotech Push With $1.3 Billion IPO Of Covid Vaccine Unit

Chey Tae-won, chairman of SK Group, speaks at the Boao Forum for Asia Annual Conference in Boao, … [+] Hainan province, China, on March 27, 2019. Qilai Shen/Bloomberg SK Group, one of South Korea’s massive, family-controlled businesses known as chaebol, is expected to list its vaccine making unit, SK Bioscience, this week on the Korea Stock […]

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U.S. Restores Sanctions On Israeli Billionaire Who Had Been Granted Reprieve By Trump Administration

Topline The Biden administration Monday reimposed sanctions on Israeli billionaire Dan Gertler for what the State Department calls “extensive public corruption” in the Democratic Republic Of Congo, reversing a controversial temporary reprieve he was granted by the Trump administration. Israeli billionaire Dan Gertler looks across the open pit mining operations at Comide SPRL’s Mashitu … […]

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Jack Ma’s Ant Group Reaches Deal With Chinese Regulators On Restructuring Plan: Bloomberg Report

Jack Ma pauses during a fireside interview at the Viva Technology conference in Paris, France, on … [+] Thursday, May 16, 2019. Marlene Awaad/Bloomberg Ant Group has agreed on a restructuring plan with China’s regulators that will turn the fintech giant into a financial holding company subject to capital requirements similar to those for banks, […]

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Loaded With Tesla-Like Features, Vietnam’s Vingroup Plans Rollout Of Electric SUVs

A Vinfast LUX SA 2.0 SUV automobile on display during the Paris Motor Show at the Parc des … [+] Expositions at the Porte de Versailles on October 3, 2018 in Paris, France. Chesnot/Getty Images Amid growing interest in electric vehicles, the car-making arm of Vietnamese conglomerate Vingroup will roll out its own electric, self-driving […]

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Tesla Notches First Full-Year Profit, Aided By $270 Million Fourth-Quarter Net Income

Elon Musk’s Tesla finally stayed profitable for a full year, the first time since its public listing in 2010. Getty Images Tesla reported a net income of $270 million in 2020’s final quarter, helping Elon Musk’s electric vehicle powerhouse notch its first profitable year. As usual, sales of pollution credits helped keep the company in […]

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Apple Supplier Foxconn To Build $270 Million Plant In Vietnam Amid U.S.-China Tensions

Terry Gou, founder of Foxconn. Simon Song/South China Morning Post via Getty Images Taiwan’s Foxconn Technology, which manufactures electronics for Apple, this week received a license from the Vietnamese government to build a $270 million plant to make laptops and tablets in the Southeast Asian nation amid U.S.-China tensions. The new plant, which will be […]

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Billionaire Richard Branson Hoping To Impress NASA With Sunday Rocket Launch

Sir Richard Branson attends a private view of the ‘Virgin Records: 40 Years Of Disruptions’ … [+] exhibition getty Virgin Orbit, Sir Richard Branson’s small satellite launch start-up, is planning to make its second launch attempt this Sunday, carrying a payload for its “first customer” NASA in what Orbit hopes will be a long-lasting (and […]

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Yidu CEO Joins Ranks Of China Healthcare Billionaires And World’s Richest Women

A sanitation worker cleans the logo of Hong Kong Exchanges and Clearing (HKEX) last year. (Photo by … [+] Zhang Wei/China News Service via Getty Images) China News Service via Getty Images Gong Yingying, CEO of China healthcare information provider Yidu Tech, joined the ranks of the country’s billionaires today after the company’s shares more […]

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Billionaire Ken Langone Says He Feels ‘Betrayed’ By Trump, Vows To Support Biden

Topline Home Depot co-founder Ken Langone, a prominent Republican donor and backer of President Donald Trump, said Wednesday that he felt “betrayed” by the president’s actions in the leadup to last week’s attack on the U.S. Capitol, which he characterized as a “disgrace,” and he said he would do everything possible to support the Biden […]

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China Internet Heavyweight Baidu Confirms Plan To Enter EV Market With Geely

Li Shufu, chairman of Zhejiang Geely Holding Group Co., left, and Robin Li, co-founder and chief … [+] executive officer of Baidu, right, together in 2019. Photographer: Gilles Sabrie/Bloomberg © 2019 Bloomberg Finance LP Baidu, one of China’s largest Internet businesses, on Monday confirmed a report last week that it plans to produce electric vehicles […]

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China EV Frenzy Continues: Baidu Soars On Reported Geely Tie

Li Shufu, chairman of Zhejiang Geely Holding Group, and Robin Li, co-founder and chief executive … [+] officer of Baidu, reportedly plan to team up to make electric vehicles. Photographer: Gilles Sabrie/Bloomberg © 2019 Bloomberg Finance LP Nasdaq-traded shares in China Internet heavyweight Baidu soared by 15.6% to a nearly two and a half year […]

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Tesla’s Year-End Push Lifts 2020 Deliveries To Musk’s Long-Sought 500,000-Unit Goal

Tesla CEO Elon Musk arrives for the Axel Springer Awards on Dec. 1, 2020, in Berlin. Britta Pedersen-Pool/Getty Images Tesla TSLA closed out 2020 with a final delivery and production push that helped Elon Musk’s electric vehicle company finally deliver about 500,000 cars and crossovers to global customers, a goal the billionaire entrepreneur has been […]

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Trump’s New Year: Could His Pardons Prove Futile In New York? A Q&A With State Sen. Todd Kaminsky, The Former Prosecutor Who Wrote Law To Close The State’s Double-Jeopardy Loophole

Former prosecutor Todd Kaminsky, in January 2016 in Albany, taking the oath to support and defend … [+] the New York and U.S. Constitutions. (He replaced a former state senate majority leader who was convicted on federal corruption charges.) ASSOCIATED PRESS Given his former career as a prosecutor who specialized in political corruption cases, it […]

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Here Are The Biggest Billionaire Scandals Of 2020

ILLUSTRATION BY FORBES; PHOTOS, FROM LEFT: JUN SATO/GETTY IMAGES; MARK MAKELA/GETTY IMAGES; CHRISTIAN K. LEE/THE WASHINGTON POST/GETTY IMAGES As a year unlike any other draws to a close, Forbes takes a look at the biggest scandals billionaires found themselves facing, from tax evasion to alleged financial fraud to a billionaire spat between neighbors featuring the […]

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The Billionaires Who Died In 2020: Remembering Their Lives

Sumner Redstone, Whitney MacMillan and Joseph Safra: three of the 16 billionaires who died in 2020. ILLUSTRATION BY FORBES; PHOTOS, FROM LEFT: MICHAEL TRAN/GETTY IMAGES; CHARLES BJORGEN/STAR TRIBUNE/GETTY IMAGES; WILLIAM VOLCOV/ZUMA/NEWSCOM In a year that will likely be remembered around the world for the devastation and loss of life caused by the coronavirus pandemic, 16 […]

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Trump Administration Reaches Deal For 100 Million Additional Doses Of Pfizer’s Vaccine

Topline The Trump Administration reached a deal with Pfizer to buy 100 million additional doses of its coronavirus vaccine for $1.95 billion, the government announced Wednesday, and has now secured 200 million doses for $3.9 billion, months after turning down the opportunity to secure a total of 600 million doses.  Vials of Pfizer and BioNTech […]

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