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☆ Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty
  + stars: | 2024-05-04 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +13 min
Youth unemployment, income inequality, regional disparities, and Russian oil remain big problems. But the work starts there, as he'll have to navigate thorny issues such as youth unemployment, income inequality, and reliance on sanctioned Russian oil. "The other key economic policy was JAM — the trinity of bank accounts for the poor, mobile numbers and a biometric card. Indian demand for Russian oil has cooled in recent months as new sanctions have made it more expensive, but the buying remains controversial. Alexandr Demyanchuk/AFP/Getty ImagesIndia the IT hubUnder Modi, India has made big strides in modernizing its economy, combating bureaucracy, and appealing to foreign investors.
Persons: Narendra Modi, Elon Musk, Jamie Dimon, Tim Cook, —, Modi, Goldman Sachs, JPMorgan's Dimon, He's, Musk, Apple's Cook, Joe Biden, Sundar Pichai, Anna Moneymaker, Jensen Huang, Satya Nadella, Alphabet's Sundar Pichai, Richard Rossow, Demonetisation, Kunal Sen, Sen, Tim Graham, Rossow, tycoons Mukesh Ambani, Gautam Adani, Mukesh Ambani, Isha Piramal, Rihanna, Shloka Mehta Ambani, Akash Ambani, Radhika Merchant, Anant, Radhika, Ambani, they'd, Neelima Jain, Vladimir Putin, Alexandr Demyanchuk, Sanjay Shetty, Shetty Organizations: Service, titans, Monetary Fund, Gross, World Bank, Economic, of New, Google, Apple, Nvidia, Microsoft, India, Studies, Center for Strategic & International Studies, United Nations, United Nations University World Institute for Development Economics, University of Manchester, International Labor Organization, Oxfam, Bloomberg, Reliance Industries, Adani, CSIS, Indian, Shanghai Cooperation Organisation, Getty, Modi, Big Tech, Randstad, Economic Times Locations: India, Britain, Japan, Germany, China, of New York, Nimaj, Rajasthan, North Korea, Bihar, Uttar Pradesh, Russia, Ukraine, Europe, Moscow, Western, Samarkand, AFP, Randstad India
☆ Tim Cook, Steve Ballmer and Jamie Dimon are among the few US billionaires who didn't found a company or inherit a fortune
  + stars: | 2024-02-08 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Read previewVirtually all of America's billionaires either founded a wildly successful company or inherited a vast fortune. Apple CEO Tim Cook, JPMorgan CEO Jamie Dimon, and former Microsoft CEO Steve Ballmer are among the few exceptions. Ballmer leads the pack with an estimated fortune of $143 billion, according to the Bloomberg Billionaires Index largely due to his near-4% stake in Microsoft. AdvertisementRemarkably, Ballmer ranks sixth on the Bloomberg list, just one spot and $3 billion behind the Microsoft cofounder. Other industry stalwarts include Meta's former operating chief, Sheryl Sandberg ($2 billion), and former eBay CEO Meg Whitman ($3 billion).
Persons: —, Tim Cook, Jamie Dimon, Steve Ballmer, Forbes, Bill Gates, Ballmer, Eric Schmidt, Charles Simonyi, Jeff Rothschild, Jeff Skoll, Sheryl Sandberg, Meg Whitman, Justin Sullivan, Snowflake, Frank Slootman, Apple's Cook, Safra Catz, Lisa Su, Ramzi Musallam, JPMorgan's, Goldman Sachs, Lloyd Blankfein, Tor Peterson, Paul Saville, homebuilder Organizations: Service, Apple, JPMorgan, Business, Bloomberg, Microsoft, Facebook, eBay, Getty Images Tech, Forbes, Oracle, AMD, Veritas Capital, Blackstone, KKR Locations: Silver
☆ Chinese state media rebuke Mark Zuckerberg over reported plan to sell Quest headsets
  + stars: | 2023-07-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com   time to read: +2 min
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., speaks during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022. for a virtual future. A Chinese state-controlled media outlet published a harsh critique of Meta CEO Mark Zuckerberg on Wednesday, accusing the billionaire of essentially "shooting himself in the foot" when it came to the Chinese markets. The editorial, translated from Mandarin, said that Zuckerberg's past criticisms of Chinese companies, including ByteDance's TikTok, essentially amount to self-sabotage of his efforts to sell in China. Zuckerberg has been a critic of both specific China-based companies and widespread Chinese corporate espionage. "I think it's well documented that the Chinese government steals technology from American companies," Zuckerberg testified before Congress in 2020.
Persons: Mark Zuckerberg, Meta, Tencent, ByteDance's, Zuckerberg, Tim Cook, Elon Musk, Sen, Tom Cotton, Sundar Pichai, Apple's Cook, Pichai Organizations: Meta, Inc, Street Journal, Apple, Tesla, Google, Microsoft, Department of Justice, Department of Homeland Security Locations: New York, Beijing, China
☆ Apple is ready to enter its metaverse era with a mixed reality headset. The rest of the world might not be.
  + stars: | 2023-06-04 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +6 min
Apple is on the cusp of revealing its future post-iPhone with a big bet on the metaverse. Tim Cook is expected to unveil a new mixed reality headset at WWDC in his riskiest move yet. Apple has the tough task of convincing the world the metaverse is still the future as interest dips. But emerging signs suggest Apple would have a seriously tough time shipping units for its metaverse bet. "If you believe there's something beyond a smartphone then it's probably the metaverse," Munster said.
Persons: Tim Cook, that's, Mark Zuckerberg's Meta, it's, Zuckerberg, Palmer Luckey, —, ChatGPT, Gene Munster, he's, Siri, That's, Apple, Munster, Bill Gates, Apple's Cook Organizations: Apple, Developers, Bloomberg, Meta, Deepwater Asset Management, Microsoft Locations: Cupertino
☆ Even Apple will have a hard time making the metaverse cool
  + stars: | 2023-05-19 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
Apple must do what no other tech company has done: make the metaverse cool. The iPhone maker is widely expected to debut its mixed-reality headset next month. The company's making a risky move as the tech world retreats from the metaverse and fixates on AI. In other words, Apple has more to lose by not making a wager on a mixed-reality headset than if it did. "If you believe there's something beyond a smartphone then it's probably the metaverse," Munster said.
☆ Apple stakes future growth on emerging markets, starting with India
  + stars: | 2023-05-05 | by ( Stephen Nellis | ) www.reuters.com   time to read: +3 min
[1/2] Apple CEO Tim Cook gestures during the inauguration of India's first Apple retail store in Mumbai, India, April 18, 2023. Cook is betting that those markets will provide more opportunities for growth, with their youthful populations and relatively few iPhones. "We're putting efforts in a number of these markets and really see, particularly given our low share and the dynamics of the demographics, a great opportunity for us in those markets," Cook told investors during a conference call. India led the growth with a 19% jump, according to Counterpoint, with iPhones accounting for 11% of secondary smartphone sales in India. In an interview with Reuters on Thursday, Apple's Cook said little of Apple's direct iPhone revenue comes from refurbished devices.
☆ BlackRock CEO Larry Fink's pay dropped by 30% to $25 million in 2022, making him the latest corporate leader to take a pay cut amid recession fears
  + stars: | 2023-04-17 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
BlackRock CEO Larry Fink took a 30% pay cut last year, pocketing a total of $25.2 million. Apple's Tim Cook, Goldman Sach's David Solomon, and Google's Sundar Pichai are other CEOs taking pay cuts. Fink — who co-founded BlackRock in 1988 — made $36 million in 2021. While Fink's pay — before and after his 2022 pay cut — is still quite significant, it's far from the top of the CEO pay scale in the US. Amazon CEO Andy Jassy's pay dropped to $1.3 million in 2022 from $212.7 million in 2021, Insider reported Friday.
☆ Apple's Cook takes 40% pay cut
  + stars: | 2023-01-13 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's Cook takes 40% pay cutCNBC's Dominic Chu and Steve Kovach join 'Power Lunch' to discuss CEO pay and why Apple's Tim Cook volunteered to take a pay cut.
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