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The company laid off 10% of its workforce, which had reached nearly 80,000 employees, last year. AdvertisementJust a year after Salesforce laid off nearly 10% of its workforce, the company's head count is beginning to creep back up. "We're investing into our most productive areas — AI and data," CFO Amy Weaver said this week on the company's fourth-quarter earnings call with investors. The company reported a non-GAAP operating margin of 30.5% for the fiscal year, above the 30% threshold that activist investors had pushed for. New hires, Weaver said, are being added to Salesforce in "cost-effective ways," such as hiring people from areas that have "high talent pools and low cost of living."
Persons: Salesforce, Marc Benioff, , Amy Weaver, Weaver, Benioff, Larry Ellison —, Ellen Thomas Organizations: Service, SEC, New, Business, Oracle Locations: New York, San Francisco, Salesforce
In just three years, the world has witnessed a "supercharged surge in extreme wealth," new data shows. In the U.S. alone, billionaires are 46% richer than they were in 2020, while the three wealthiest men — Elon Musk, Jeff Bezos and Larry Ellison — have increased their net worth by 84%, a recent Oxfam report on global inequality found. If current trends continue, the world will have its first trillionaire within a decade, but poverty won't be eradicated for another 229 years. "We expect to see continued concentration of extreme wealth at the very top," added Rebecca Riddell, policy lead economic and racial justice at Oxfam. There are, however, signs of progress, noted Steven Hamilton, assistant professor of economics at George Washington University.
Persons: — Elon Musk, Jeff Bezos, Larry Ellison —, Amitabh Behar, Rebecca Riddell, Steven Hamilton Organizations: Oxfam, America, U.S . Census, Interim, Finance, House Republicans, George Washington University Locations: U.S
Private equity firms are investing heavily in film and TV companies, even amid a possible recession. Private equity accounted for 42% of deals over the last year vs. 24% in 2018, according to PwC. RedBird Capital just invested $100 million in Ben Affeck and Matt Damon's new production company, Artists Equity. And earlier that month, Swedish firm EQT invested in UTA, which makes the private equity player the largest outside shareholder of the talent agency. Insider's second annual list of the top private equity players in Hollywood highlights 16 firms, based on our reporting and conversations with investors and insiders.
The 20 richest tech billionaires have collectively lost nearly half a trillion dollars this year amid the stock market’s sharp tumble, a loss of wealth that is more than the market values of all but seven companies in the S&P 500. The world’s richest tech moguls—including Mark Zuckerberg, Bill Gates and Larry Ellison —have seen more than $480 billion in paper wealth disappear this year through Thursday, according to the Bloomberg Billionaires Index, a daily ranking of the richest people in the world. Disappointing earnings reports from a slew of tech giants this week have stoked recession fears, pushed stock prices lower and weighed on the fortunes of the world’s wealthiest people.
Private equity firms are investing more deeply in film and TV content companies, even amid a possible recession. Private equity accounted for 42% of deals over the last year vs. 24% in 2018, according to PwC. KKR just led a $400 million funding round for Skydance, giving the "Top Gun: Maverick" studio a $4 billion valuation. And earlier in July, Swedish firm EQT invested in UTA, which makes the private equity player the largest outside shareholder of the talent agency. And KKR is continuing to make big bets: It just led a $400 million funding round in "Top Gun: Maverick" studio Skydance that sent the production company's valuation north of $4 billion.
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