Benard Arnault Unseat Amazon, Bill Gate To Become Richest Man On Earth With A Net Worth Of $117 billion.
Jeff Bezos is no longer the world’s richest person—for now, at least.
Microsoft co-founder Bill Gate remain the third richest man on earth.
The e-commerce titan’s net worth slid by $760 million to $115.6 billion as Amazon shares dipped 0.7% today. The nine-figure drop may be a drop in the bucket for Bezos, but it was enough to knock him from first to second place on Forbes’ ranking of the world’s billionaires..
The planet’s new richest person (again): Bernard Arnault, the chief executive of luxury goods behemoth LVMH. Arnault gained $1.9 billion in net worth on Friday as LVMH stock edged up by 0.7%. The Frenchman is currently worth $117 billion, up from $102 billion when he graced the cover of Forbes less than four months ago. “If you compare us to Microsoft, [we are] small,” Arnault told Forbes. “It’s just the beginning.”
cofounder Bill Gates, who remains the third-wealthiest person in the world, behind Arnault and Bezos. Gates would be richer than both men had he not given $35.8 billion, and counting, to charity over his lifetime.
Arnault’s LVMH has hit the ground running in 2020. This week, its beauty incubator, Kendo, acquired the rest of Kat Von D’s eponymous beauty brand. And LVMH also bought a tennis-ball-size rough diamond—the second largest in history—from Lucara Diamond Corp. on Wednesday, January 15, 2020. The 1,758-carat gem is a timely splurge, since LVMH made a $16.2 billion bid to buy iconic jeweler Tiffany & Co. in November. Tiffany shareholders are due to vote on the deal on February 4, 2020.
First of all, the360report wish you all a Happy New year, due to the state of economy in Nigeria and the increasing rate of unemployment among the youths, we (the360report.com) decided to write this post, which could be of help to those who are willing to venture.
If you don’t have the mindset of becoming an umbrella to cover others in the mindst of scarcity and bankruptcy, this post might not be for you. Now let’s begin ??
Your boss pays you N30,000 per month. Now let’s assume that you decided to save all without touching a dime, it would take you 36 months to make N1million. (Did I hear you say 3years?) Absolutely!
On the other hand, if you can convince an organisation like Guinness to print and supply 5000 umbrellas to them (to be used as souvenirs) and you make just N200 profit per umbrella, in just one day you must have made N1million.
What about becoming a billionaire, that is where it gets crazy! Now let’s increase your pay to N1,000,000 per month and you decide to save all without touching a dime. In a year, you must have saved N12million. It would take about 84years before you can make N1billion. (Please subtract your current age). On the other hand, Nigeria has a population of about 200 million people, If you can supply salt to just 12million people once in a month and you make just N100 from each person supplied, in one year, you must have made N1.2billion. This shows that to become rich, you have to stop talking to bosses and start talking to clients.
HARD ANALYSIS:
Divide your SALARY by 30 days and see what you get (i.e. the number of days in a month and see the funny thing about your salary plan)
FOR EXAMPLE
(1) An average level-12 worker in the state government civil service earns NGN 60,000.
**** And this translates to NGN 60,000÷30= NGN 2,000 every day. This is LESS THAN the amount made daily by an AVERAGE HAWKER in the city.
(2) A freshly EMPLOYED GRADUATE BANKER in most NIGERIAN BANKS earns an average of NGN120,000 monthly.
So everyday, you get NGN120,000÷30= NGN4,000 as the daily value for your work-life. By implication, this is LESS THAN the amount earned DAILY by an AVERAGE DRIVER in d city and in some villages…..
(3) If you are a FRESH GRADUATE EMPLOYEE in some oil companies, you earn an average of NGN300,000 monthly. So in a day your WORK-VALUE is NGN300,000 ÷ 30= NGN10,000
**** This is LESS THAN the daily amount earned by an IRRIGATION FARMER supplying vegetables to Lagos MARKETS, a TIPPER CAR DRIVER supplying sand for three BLOCK INDUSTRIES and CONSTRUCTION SITES just 3 times a day and DRIVERS of DANGOTE TRUCKS who have bought off the trucks at scrap value and vare using them to convey products between villages and the cities for just five business owners.
HOPE BY NOW, IT IS SINKING IN, RIGHT?
And when there is an ISSUE in the FAMILY that requires FINANCIAL ASSISTANCE, the DRIVERS, HAWKERS and the rest are looking up to you with a WHITE COLLAR JOB.
(4) If you are an NYSC MEMBER, you DON’T need to be told that: *NGN19,800÷30 = NGN 660 is your worth on a daily basis.
I hope you know that PURE WATER SELLERS who own a shop, a pepper soup joint and a small TOYOTA COROLLA car to distribute pure water to five restaurants earn MORE THAN you and WHEEL-BARROW PUSHERS working on contract for three warehouses probably make MORE MONEY than you EACH DAY
Wake up and be more productive. We should be more proactive, create room for more income and strive to diversify our streams of income.
The earlier you wake up and smell the coffee, the better for you.
Someone right now will say this analysis is too ideal to be true but take your time and do it, you will grasp the crux!!!
STOP waiting for the Government to feed you, feed yourself and help the Government feed others. That is where we are in this age.
Dream Big 2020 must be good, think like a champion and you will become one, I am a student is not an excuse not to bring out the potentials in you, look around there might something you can do better that people are in need of.
Please share this and don’t forget to subscribe to receive an update from us.
Sweet Life:Jeff Bezos and his girlfriend, Lauren Sanchez, were spotted spending the holiday season with Dasha Zhukova in St Barth.
Early Christmas gift? Jeff Bezos’ girlfriend Lauren Sanchez sports a huge diamond ring as she enjoys a casual outing with the Amazon billionaire during their holiday getaway in St Barth
Jeff Bezos on blue and his girlfriend Lauren Sanchez on White
Jeff Bezos and his girlfriend, Lauren Sanchez, were spotted spending the holiday season with Dasha Zhukova in St Barth.
Jeff Bezos and his girlfriend having a good time together
The billionaire and his former news anchor partner looked relaxed and comfortable as they walked in a crowded area on the island.
Bezos sported a blue shirt with black shorts as Sanchez donned a white t-shirt and multi-colored shorts.
Bezos and Lauren Sanchez
Sanchez, 50, was also seen wearing a large ring on her right hand.
One photo shows Sanchez rubbing the back of Bezos’ head as they relax on the boat.
Lauren Sanchez seen rubbing Bezos back of headBezos girlfriend Lauren Sanchez being help to enter a boatJeff Bezos
At one point they were seen being helped onto the yacht during an outing on Sunday.
Their relationship was revealed on January 10, a day after Bezos and his wife Mackenzie announced they were separating.
Forbes list of The top five Billionaire gainers of 2019, who added nearly $112 billion to their fortunes.
The top five gainers of 2019 added nearly $112 billion to their fortunes. That is well more than double the jump in 2018, when the fortunes of the five biggest winners increased by just over $48 billion. Driving up these audacious gains were outperforming stocks, not just in the U.S., where equity markets hit record highs, but in other parts of the world as well.
This year’s biggest winner by a landslide is France’s Bernard Arnault, chairman of the luxury goods titan LVMH. The third-richest person on the planet, he is worth $40 billion more than a year ago and is now one of just three people with 12-figure fortunes. His massive gain is nearly $18 billion more than that of anyone else on earth in 2019. Coming in second is Facebook’s controversial chief Mark Zuckerberg, who was last year’s biggest loser. In a complete reversal of fortunes, he is $22.1 billion richer, after having lost $18.7 billion in the previous year.
Sometimes being the biggest loser is not such a bad thing. Indian tech magnate Azim Premji, who is chairman of the $8.4 billion (2018 revenue) IT company Wipro, announced in March that he had transferred more than 60% of his stake in Wipro to his foundation over the years. “To whom much has been given, much should be expected,” he told Forbes at the time.
To measure fortunes for this article, Forbes looked at the change in net worth of more than 2,200 billionaires between December 28, 2018 and December 13, 2019. We calculated the biggest winners and losers in absolute dollar terms and only took into consideration billionaires with investments in publicly traded companies.
winners of the year
1. Benard Arnault
Added wealth $40billion
Net worth: $107.7 billion
No one had a better year than Bernard Arnault, chief executive of French luxury conglomerate LVMH, which encompasses more than 70 brands including Louis Vuitton, Bulgari, Dior, and Fendi. LVMH’s stock price rose about 54% in 2019, nearly tripling in less than four years. In November, LVMH announced its largest acquisition ever, agreeing to buy the 182-year-old iconic jeweler Tiffany & Co for $16.2 billion. The deal is expected to close in the middle of 2020. “What I have in mind every morning is that the desirability of a brand should be as strong in ten years,” he told Forbes in November. “It’s really the key to our success.”
2 Mark Zuckerberg Added wealth $22.1 billion
Net worth: $72 billion
As the 2020 U.S. presidential elections loom large, Zuckerberg continues to attract critics, from presidential candidates to fellow billionaires such as Twitter chief Jack Dorsey, who, in a radical move, removed all political ads from his own platform in October. Yet Facebook managed to exceed analysts’ expectations with its quarterly results the same month. The company also launched a variety of new initiatives in 2019, including Facebook News and Facebook Dating. “Today is certainly a historical moment of social tension, and I view an important role of our company as defending free expression,” Zuckerberg said in an earnings call in November. Facebook’s stock price surged 48% in the past year.
3 Amancio Ortega Added wealth 17.3 billion
Net worth: $74.9 billion
After a less-than-stellar 2018, the share price of Amancio Ortega’s Inditex, best known for its popular clothing retailer Zara, increased nearly 34% this year. In an interim report in November, the company announced that it had been cutting down operating expenses while expanding Zara’s global presence, adding online stores in South Africa, Colombia, the Philippines and Ukraine. Ortega has about a 60% stake in Inditex, whose brands also include Massimo Dutti, Pull & Bear and Bershka.
4 Steve Ballmer Added wealth $16.3 billion
Net worth: $56.3 billion
Former CEO of Microsoft, Ballmer helped the $1.18 trillion (market capitalization) technology company through tumultuous times from 2000 to 2014. In 2019, Microsoft earnings continued to rise thanks to its presence in commercial cloud services. The firm also announced a buyback plan in September of up to $40 billion in stock and raised its quarterly dividend by 11%, boosting its share price significantly.
5 Mukesh Ambani Added wealth $16.1 billion
Net worth: $61.4 billion
For the third year in a row, Ambani lands on our list of top gainers. His Reliance Industries— which has stakes in oil, gas, telecom, and retail—had a strong 2019, and is on track to being debt-free by March 31, 2020. Reliance agreed in August to sell a 20% stake in its petrochemicals and oil refining business to Saudi Aramco for $15 billion. It also announced a fuel retailing joint venture with BP in December, which will launch up to 5,500 gas stations across India branded as Jio-BP. Ambani chairs and runs the $90.1 billion (2019 revenue) Reliance Industries, which was founded by his late father as a small textile manufacturer half a century ago.
Chinese pig farmer Qin Yinglin has seen his net worth jump 341% in 2019 so far, making his the fastest-growing fortune on the Bloomberg Billionaires Index .
An outbreak of swine flu among Chinese pig farms has sent pork prices almost 50% from this time last year.
Qin currently has a net worth of $8.56 billion, up from $4.71 billion in May, Bloomberg estimates.
Tech founders and fashion magnates may sit atop the Bloomberg Billionaires Index, but it’s a Chinese pig farmer who has its fastest-growing fortune.
The net worth of Qin Yinglin, the chairman of Chinese pig breeder Muyuan Foodstuff Co., has skyrocketed over $6.6 billion in 2019 so far to a total of $8.56 billion, Qin’s profile on the Bloomberg Billionaires Index shows. That is an increase of over 341%, Bloomberg’s Blake Schmidt and Emma Vickers reported Friday.
A global shortage of pork allowed Muyuan to raise both its prices and its profits in the second half of 2019. Muyuan made 260% more in the third quarter of 2019 than during the same timeframe last year, Bloomberg reported. The company’s success directly benefits the 54-year-old billionaire, who derives most of his net worth from the 60% stake in Muyuan he owns with his wife, according to Bloomberg . Qin founded Henan province-based pork producer with 22 pigs in 1992, according to the Muyuan’s website
An outbreak of African swine flu on Chinese pig farms cut the country’s pork production by nearly a third and sent prices up approximately 50% above what they were this time last year, Business Insider’s Alexandra Ma previously reported. China is both the world’s largest producer and consumer of pork, and the shortage forced the Chinese government to pull meat out of its stockpiles to meet the demand, the Associated Press reported in September. The government even resorted to implementing artificial intelligence, facial recognition, and blockchain technologies on some farms to monitor the pig’s health to no avail, Ma reported.
An outbreak of African swine flu on Chinese pig farms cut the country’s pork production by nearly a third and sent prices up approximately 50% above what they were this time last year, Business Insider’s Alexandra Ma previously reported. China is both the world’s largest producer and consumer of pork, and the shortage forced the Chinese government to pull meat out of its stockpiles to meet the demand, the Associated Press reported in September. The government even resorted to implementing artificial intelligence, facial recognition, and blockchain technologies on some farms to monitor the pig’s health to no avail, Ma reported.
A representative of Qin at Muyuan Foodstuff did not immediately respond to Business Insider’s request for comment on its chairman’s net worth or the company’s stock price.
Pork billionaires are outliers among the Chinese ultra-wealthy
Qin isn’t the only pork billionaire to see his net worth skyrocket in 2019. The net worth of the world’s largest pork producer, New HopeGroup chairman Liu Yonghao, has nearly doubled to $11 billion in the past 12 months, according to Bloomberg .
Few other billionaires in China have shared Qin and Liu’s success. The American and French fortunes on the Bloomberg Billionaires Index outpaced Chinese ones in the first half of 2019, Business Insider previously reported, growing at rates of 35% and 17% respectively. The collective net worths of Chinese billionaires, meanwhile, grew 15%.
Perhaps no one’s fortunes have suffered more than Hong Kong’s billionaires’, however. Hong Kong’s wealthiest residents often enjoy the greatest profits when the markets are bullish, but experience the steepest losses during market routs, Capgemini ‘s Deputy Head of the Global Financial Services Market Intelligence Strategic Analysis Group Chirag Thakral told Business Insider .
Months of mass protests and civil unrest wiped $15 billion off the net worths of Hong Kong’s 10 richest people between July and August. The two members of the Kwok family, Hong Kong’s richest family and the owners of the city’s largest real-estate developer, saw their net worths drop over a billion dollars each . Meanwhile, “Superman” Li Ka-shing’s fortune fell $3 billion . On August 15, Li took out advertisements in local Hong Kong newspapers asking residents to “stop anger and violence in the name of love,” The South China Morning Post reported.
Billionaires: Names of the Top twenty [20] richest men in the world and their net worth.
Amazon boss Jeff Bezos lost his title as the world’s richest person last week – if only for 24 hours.
Jeffbezoz
Shares in the ecommerce giant fell 7% on Thursday after it reported disappointing third-quarter earnings. This pushed Bezos’ fortune down to below that of Microsoft co-founder Bill Gates, reported Forbes.
However, the Amazon founder’s net worth was back up the following day, restoring his status as the wealthiest person in the world.
According to Forbes: “It’s possible Bezos could lose the crown once more as Amazon continues to invest heavily in infrastructure to support one-day shipping – a delivery time that he hopes will become standard for all Amazon Prime members.”
The magazine adds that Bezos’ fortune is “heavily reliant on the performance of the company he started”, while Gates is “much less dependent on his own creation”.
Here are other top richest people around the globe, their rank and total networth according to the latest figures on Bloomberg billionaire daily index:
Rank Name Total net Worth 1 Jeff Bezos $113B 2 Bill Gates $111B 3 Bernard Arnault $104B 4 Warren Buffett $87.0B 5 Mark Zuckerberg $77.1B 6 Amancio Ortega $67.1B 7 Larry Page $63.7B 8 Charles Koch $61.9B 9 Julia Flesher Koch $61.9B 10 Sergey Brin $61.8B 11 Larry Ellison $61.6B 12 Mukesh Ambani $60.7B 13 Carlos Slim $57.8B 14 Francoise Bettencourt Meyers $56.6B 15 Steve Ballmer $56.2B 16 Rob Walton $54.1B 17 Jim Walton $53.9B 18 Alice Walton $52.9B 19 Jack Ma $45.0B 20 Jacqueline Mars $42.2B
What is your opinion about this list? You can drop your opinion on the comments section.
