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☆ Jeff Bezos' net worth hits all-time high fueled by Amazon shares getting Trump bump
▼ + stars: | 2024-11-07 | by ( Sarah Jackson | Madeline Berg | ) www.businessinsider.com time to read: +3 min

The Amazon founder's net worth soared to an all-time high of $228 billion on Wednesday, per Bloomberg's Billionaires Index. Amazon's stock reached its own record high on Wednesday, fueling Bezos' wealth jump. His net worth hit a record high of $228 billion on Wednesday, according to the Bloomberg Billionaires Index. The rally helped the Nasdaq 100, the index on which Amazon is listed, reach a record high. The Tesla CEO's net worth climbed $26.5 billion on Wednesday to reach $290 billion, per Bloomberg.

Persons: Jeff Bezos, —, Donald Trump, Bezos, Elon Musk, Bezos —, Trump Organizations: Service, Bloomberg, Nasdaq, Trump, Tesla, Washington Post, SpaceX, NASA

☆ Harvard Business School professor says this is the No. 1 'misconception about failing'
▼ + stars: | 2024-10-30 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

"It's gonna sound weird, but success for me was failing," she told CNBC Make It. But why failing can lead to better future outcomes is generally misunderstood, says Amy Edmondson, a professor at Harvard Business School and author of "Right Kind of Wrong: The Science of Failing Well." "There's one really important misconception about failing, which is that failure and mistake are the same thing," she says. If you're pursuing a new hobby or switching into a different role at work, know that failure is likely ahead. A productive failure meets four criteria, Edmondson says.

Persons: Jeff Bezos —, Gabby Douglas, Amy Edmondson, Edmondson Organizations: CNBC, Harvard Business School

☆ Don't hate billionaires like Jeff Bezos — they make our lives better, 2 experts say
▼ + stars: | 2024-09-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

But two experts say the uber-wealthy are often huge contributors to society — and trying to eliminate them could badly backfire. It's become increasingly popular to make claims such as "billionaires shouldn't exist" and "any billionaire is a policy failure." But these moral criticisms of billionaires are unconvincing because people overstate billionaires' power and influence and overlook the benefits of some billionaires. There's a widespread belief that governments should tax billionaires primarily and spend that money on public goods and anti-poverty programs. Instead of saying that every billionaire is a policy failure, we should instead embrace the idea that every billionaire is a policy success.

Persons: Critics, —, Jessica Flanigan, Richard L, Chris Freiman, It's, Elon Musk, Jeff Bezos, Steve Jobs, Jobs, Bezos, Warren Buffett, isn't, Taylor Swift, LeBron James Organizations: Service, Morril, University of Richmond, West Virginia University, Business Locations: multimillionaires

☆ 5 things to know about billionaires, from a personal assistant to the uber-wealthy
▼ + stars: | 2024-09-16 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

Now, he places personal and executive assistants with CEOs, billionaires, and celebrities. Here are five things to know about billionaires, according to a billionaire whisperer. Brian Daniel worked as a personal assistant for ultra-high-net-worth clients — including members of the royal family of Saudi Arabia. "A lot of billionaires like bragging rights, where they want access to things that other people can't get access to." Advertisement"They can afford to pay the bill to have the celebrities come to their parties and be on their yachts," Daniel said.

Persons: —, They're, Brian Daniel, he's, Warren Buffett, there's, Daniel, Damien Hirst, Jeff Bezos —, they're, doesn't, they've, I've, didn't Organizations: Service, Business Locations: Hollywood, Saudi Arabia, Europe

☆ Meet SpaceX's Polaris Dawn crew: The daring 4 who are in space on the most ambitious private space mission in history
▼ + stars: | 2024-09-11 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +8 min

Read previewSpaceX just launched four people on its most daring human spaceflight yet, a mission called Polaris Dawn. Jared Isaacman, mission commanderJared Isaacman at SpaceX in Hawthorne, California. Anna Menon, mission specialist and medical officerAnna Menon is Polaris Dawn's mission specialist and medical officer. Before joining SpaceX, Menon worked at NASA and helped oversee International Space Station operations as a biomedical flight controller. Scott "Kidd" Poteet, mission pilotScott "Kidd" Poteet is the pilot of the Polaris Dawn mission.

Persons: —, They're, Jared Isaacman, bankrolling, SpaceX's, Isaacman, Richard Branson, Jeff Bezos, He's, he's, Jude Children's, Jude, it's, Monica Isaacman, Sarah Gillis, John Kraus, Gillis, Joe Tanner, Tanner, She's, Lewis, Polaris Dawn, Anna Menon, Joe Skipper, Menon, Anil, James, Grace, Anna, Scott, Kidd, Poteet, Scott Poteet Organizations: Service, SpaceX, NASA, Apollo, Business, Draken, Messaging, Polaris, St, Jude Children's Research Hospital, Hubble, New York, Polaris Program, Denver Post, Space, Jude Children's Research, Reuters, he's, US Air Force, US Air Force's Thunderbirds, Spectrum News, Air Force, Polaris Dawn, UNH Locations: Hawthorne , California, Shift4, New Jersey, Boulder , Colorado, Houston, Space City, Monument , Colorado

☆ Jeff Bezos is a 'brilliant man' for what he's done at Whole Foods, says ex-CEO: 'He thinks really long term'
▼ + stars: | 2024-06-15 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

In the eyes of Whole Foods co-founder John Mackey, Jeff Bezos is a "brilliant man" — all because of a few price cuts at the grocery chain. Whole Foods was struggling with declining sales when Bezos' Amazon bought the grocery chain for $13.7 billion in 2017. Shoppers were already looking elsewhere after larger, less expensive rivals like Walmart started stocking more organic foods to appeal to Whole Foods' target customers. That included producing a greater number of products from Whole Foods' in-house 365 brand, which Amazon also started selling online. "I hardly ever hear the 'whole paycheck' narrative any longer—that's due to Amazon," Mackey said.

Persons: John Mackey, Jeff Bezos, Jeff, Mackey, Fortune, Bezos, IBISWorld, Bezos —, — Organizations: Foods, Amazon, Shoppers, Walmart, CNBC

☆ What Wall Street finance bros should wear this summer
▼ + stars: | 2024-05-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

AdvertisementSo, Business Insider asked some style experts — and a finance bro — which brands and styles those on Wall Street should check out for their summer workwear. Men's fashion consultant Reginald Ferguson told BI that he wants his clients to remain "modern, yet classic" in their daily attire. Charles Tyrwhitt; Peter MillarPeter Millar and Charles Tyrwhitt were two brands suggested to BI by an early-career investment banker who asked to remain anonymous to protect his career. It's a "luxury golf brand that was smart to expand its line for its client to wear other garments while not on the course," Ferguson told BI. Kiton, another high-end brand with origins in Italy, is "the grail for the partner of the firm," Ferguson told BI.

Persons: —, Goldman Sachs, Mark Zuckerberg, Jeff Bezos —, Lauren Sanchez —, bro, Reginald Ferguson, Peter Millar, Charles Tyrwhitt, Peter Millar Peter Millar, Ferguson, nodded, Nicole Pollard Bayme, Bayme, Billionaire Bill Gates, Larry Ellison, Richard Mille Organizations: Service, bros, JPMorgan, Citigroup, Business, BI, LA, Casio, Getty, Billionaire Locations: Silicon, British, Italy

☆ GOP politicians like Ron DeSantis are trying to ban lab-grown meat, comparing it to bugs and claiming threats to ranches
▼ + stars: | 2024-04-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

The bills say that lab-grown meat threatens existing industries, such as cattle ranching. Ron DeSantis has expressed opposition to lab-grown meat. Some of the legislation says that lab-grown meat — also known as cultured meat — threatens states' current agricultural economies. If passed, the legislation would create a civil penalty of up to $25,000 for selling or producing lab-grown meat in Arizona. AdvertisementFor years, lab-grown meat startups have been promising meat without the need to slaughter animals.

Persons: —, Ron DeSantis, it's, DeSantis, Bud Hulsey, Bill Gates, Gates, Jeff Bezos — Organizations: Service, Financial Times, Times, Business, Times ., Foods Locations: Florida, Arizona, Tennessee, San Francisco

☆ Jeff Bezos dethrones Elon Musk to become the richest person on earth again
▼ + stars: | 2024-03-04 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Jeff Bezos has reclaimed the title of the richest person on earth, surpassing Elon Musk, according to the Bloomberg Billionaires Index on Monday. The Amazon founder’s net worth was $200 billion, while Musk followed at $198 billion. Musk has lost about $31 billion over the past year, while Bezos has gained $23 billion, according to the index. The three centibillionaires — Musk, Arnault and Bezos — have been in competition with each other for the top spot for months. Of course, the title of the richest person on earth swaps every few months, depending on markets performance.

Persons: Jeff Bezos, Elon, Musk, Bezos, Bernard Arnault, Louis Vuitton, Dior, Celine, Arnault, Michelle Toh, Tami Luhby, Chris Isidore Organizations: New, New York CNN, Bloomberg Locations: New York, Delaware

☆ Another Billionaire Finds It's Hard to Run a Newspaper
▼ + stars: | 2024-01-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Another billionaire is having a hard time with his newspaper. That's because the LA Times is owned by billionaire Patrick Soon-Shiong, and it is losing money; even though Soon-Shiong is a billionaire, even billionaires have limits. Asked for comment, an LA Times spokesperson said that company leaders "don't generally make forward-looking statements about staffing levels and aren't able to comment further at this time." In 2021, The Wall Street Journal reported that Soon-Shiong was considering selling the LA Times itself , but Soon-Shiong said that was not the case. Last fall, for instance, The Washington Post — owned by Amazon founder Jeff Bezos — one of the richest men in the world — underwent giant staff cuts .

Persons: Patrick Soon, Jeff Bezos's Washington, Warren Buffett, —, Kevin Merida, Patrick, Shiong Axelle, Bauer, Griffin, It's, Shiong, doesn't, Jeff Bezos —, Warren Buffett — Organizations: Los Angeles Times, Jeff Bezos's Washington Post, Service, LA Times, LA, San Diego Union, Tribune, Street Journal, Washington Post, Amazon, Omaha, Alden Global Capital Locations: Merida, San Diego, Berkshire

☆ New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins
▼ + stars: | 2023-11-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

“The great wealth transfer is gaining significant momentum as many billionaire entrepreneurs age,” Benjamin Cavalli, who oversees strategic clients in the global wealth management unit at UBS, told reporters. Their combined wealth rose 9% to $12 trillion, before taking inflation into account. Arnault is the world’s third-richest man, with a net worth of $167 billion, according to the Bloomberg Billionaires Index. Risks and opportunity for UBSThe “staggering” transfer of wealth to younger generations presents a huge opportunity for UBS, but also poses considerable risks, according to Cavalli. Heirs lean more toward impact investing — that is, socially or environmentally beneficial investing — over “classic grant-giving philanthropy,” Cavalli said.

Persons: “, ” Benjamin Cavalli, LVMH's Bernard Arnault, Helene, Frederic, Delphine, Antoine, Alexandre, Bernard Arnault, Arnault, Tesla’s Elon Musk, Jeff Bezos —, —, India’s Gautam Adani, Mukesh Ambani, Cavalli, ”, Morgan Stanley —, Stefan Wermuth, ” Cavalli, Charlie Munger, Henry E Organizations: London CNN, UBS, Bloomberg, Adani Group, Reliance Industries, Suisse, Getty, ”, Berkshire Hathaway, Huntington Library, Art Locations: Paris, Europe, France

☆ It's not just Jeff Bezos — Amazon's looking for office space in Miami, too
▼ + stars: | 2023-11-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Amazon is searching for office space in Miami. The ecommerce giant started looking before founder Jeff Bezos announced his move to the city, per Bloomberg. Bezos announced in November he was moving from Seattle to Miami. AdvertisementAmazon is looking for 50,000 square feet of office space in Miami, the ecommerce giant told Business Insider. The news came just weeks after founder Jeff Bezos announced he was moving from Seattle to Miami to be closer to his parents and to Blue Origin's operations in Cape Canaveral, Florida.

Persons: Jeff Bezos, Bezos, —, Amazon's, Insider's Jacob Zinkula Organizations: Bloomberg, Service, Miami, Companies, Citadel Locations: Miami, Seattle, Cape Canaveral , Florida, droves, Indian Creek , Florida

☆ Jeff Bezos 'aggressive' again Tuesday selling more Amazon stock after unloading shares last week, sources say
▼ + stars: | 2023-11-21 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Jeff Bezos is expected to be "aggressive" in selling more shares of Amazon on Tuesday, sources told CNBC's David Faber. Bezos may sell as many as 8 to 10 million shares, which would amount to more than $1 billion worth of stock, the sources told Faber. Shares of Amazon are down about 2.6%. It comes after Bezos last week unloaded about $240 million worth of Amazon shares, according to financial filings. WATCH: Here's why Jeff Bezos is leaving Seattle for Miami

Persons: Jeff Bezos, CNBC's David Faber, Bezos, Faber, Bezos didn't, Bezos —, Bloomberg —, Lauren Sanchez, Sanchez Organizations: Amazon, Bloomberg, Fund, Seattle, Miami Locations: Maui, Seattle, Miami

☆ Amazon CEO Andy Jassy took a massive pay cut in 2022, making $1.3 million. He made over $200 million in 2021, including stocks.
▼ + stars: | 2023-04-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Amazon CEO Andy Jassy's pay was just $1.3 million in 2022 — a huge drop from $212.7 million in 2021. Amazon CEO Andy Jassy's total compensation plunged last year. It's a massive drop from the $212.7 million he received in 2021 when he got promoted to CEO. Microsoft CEO Satya Nadella was paid a total compensation of $55 million in 2022. Meanwhile, Jeff Bezos, the founder and executive chair of Amazon, received $1.68 million in total compensation in 2022 — the same amount he received in 2021 and 2020.

☆ LVMH CEO Bernard Arnault's wealth soared to a record high of $210 billion on the same day protestors swarmed the company's headquarters in Paris
▼ + stars: | 2023-04-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

LVMH boss Bernard Arnault's fortune soared by $12 billion on Thursday to a record high of $210 billion, per Bloomberg. LVMH shares hit a record high in Thursday trade after a strong first-quarter earnings report. On Thursday, LVMH shares price on the Euronext Paris stock exchange hit a record high of 884.50 euros, or $979, before closing 5.7% higher at 883.90 euros a piece. LVMH's Arnault has featured frequently in protest slogans and chants, per Reuters on Thursday. LVMH shares are extending gains on Friday, trading 0.7% higher at 889.90 euros at 9:57 a.m. in Paris.

☆ Mark Cuban says the best way to start a business is with 'as little money as possible'—here's why
▼ + stars: | 2023-04-09 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

If you think that raising capital is the best way to get your business off the ground, you're wrong, according to Mark Cuban. Cuban, of course, has invested in hundreds of startups, including some on ABC's "Shark Tank." Now, I've got to go raise money,'" Cuban said, adding: "Just remember raising money, whether it's from me, on 'Shark Tank' [or] anywhere, that's an obligation. Elon Musk, who has an estimated net worth of $187.9 billion, owns about 23% of Tesla and 74% of Twitter, according to Forbes. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist.

☆ LVMH boss Bernard Arnault's wealth soared over $200 billion, making him the third person ever after Elon Musk and Jeff Bezos to reach the milestone
▼ + stars: | 2023-04-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

LVMH boss Bernard Arnault's net worth surpassed $200 billion on Tuesday. Arnault is also the first person outside the US to surpass a net worth of $200 billion. His net worth gained $2.4 billion on Tuesday, bringing the Frenchman's fortune to $201 billion, per Bloomberg's index. Shoppers in China are expected to boost the luxury goods sector this year after the country lifted COVID-zero restrictions. The 73-year-old tycoon has not announced who will succeed him as LVMH CEO.

☆ Amazon pledged to be Earth's Best Employer. Employees say it's just a 'marketing gimmick' as executives perpetuate the same toxic work culture.
▼ + stars: | 2023-02-16 | by ( Eugene Kim | ) www.businessinsider.com time to read: +10 min

The company even added the slogan "Strive to be Earth's Best Employer" to its set of 16 leadership principles it religiously follows. But 18 months into the launch, employees say the Earth's Best Employer project is off to a bad start. He added that the Earth's Best Employer initiative should focus on creating a meritocracy and long-term goals for the company. For many Amazon employees, the lack of transparency during last month's layoffs seemed to contradict the company's best employer credo. As the economy worsens, some employees believe Amazon's Earth's Best Employer initiative was all just a "marketing gimmick."

☆ Crumbling tech stocks and recession fears have cratered the fortunes of the wealthiest Americans including Elon Musk and Jeff Bezos.
▼ + stars: | 2022-12-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Britta Pedersen-Pool/Getty Images; Arif Hudaverdi Yaman/Getty Images; KENZO TRIBOUILLARD/Getty Images; Mike Cohen/Getty Images; Yuqing Liu/Business Insider1. Besides the fallen crypto king, many of these shrinking fortunes can be chalked up to this year's bloodbath in the tech stocks. How has Elon Musk's involvement with Twitter impacted your outlook for Tesla stock? Tesla stock price on December, 29, 2022 Markets Insider10. Tesla stock climbed Wednesday as dip-buyers poured into the EV maker.

☆ Jeff Bezos and Jay-Z may team up to bid on the Washington Commanders NFL team, reports say
▼ + stars: | 2022-11-03 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Jeff Bezos may be interested in buying the NFL's Washington Commanders, according to multiple reports. But the team isn't officially for sale and Bezos has been linked to four NFL teams since 2018. The Amazon founder is "looking into buying the Washington Commanders," with music mogul Jay-Z potentially joining Bezos as an investor, a person close to Bezos told People on Thursday. The Commanders are worth $5.6 billion, according to an estimate by Forbes from August, making the team the 6th-most valuable NFL franchise. For Jay-Z, team ownership would be nothing new: the hip-hop star was a part-owner of the NBA's Brooklyn Nets, though he sold his stake in 2013.

☆ Former Treasury Secretary Larry Summers urges Fed to keep hiking rates
▼ + stars: | 2022-11-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN Business —Former US Treasury Secretary Larry Summers said on Tuesday that the growing chorus of economists and politicians urging the Federal Reserve to pause its aggressive rate hikes in order to fight inflation are misguided. Those critics say that the Fed could throw the economy into recession, but Summers argued there’s a much greater risk to the economy that the Fed is not doing enough to bring down prices. On oil windfall taxes: On Tuesday, Summers also pushed back after President Joe Biden floated the possibility of punishing the oil industry for high prices by imposing a windfall profit tax. The profits are a windfall of war,” Biden said from the Roosevelt Room, alongside Treasury Secretary Janet Yellen and Energy Secretary Jennifer Granholm. “I think it would discourage investment in oil which ultimately mean higher oil prices.”

☆ Former Treasury Secretary Larry Summers says chance of recession next year is substantial
▼ + stars: | 2022-10-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN Business —Former US Treasury Secretary Larry Summers said on Thursday that it’s “substantially” more likely than not that the United States will enter a recession next year. But this recession will likely be relatively short and mild. There is currently a 98.1% chance of a global recession next year, according to a probability model run by Ned Davis Research. “I think the Fed has to do what is necessary to contain inflation,” said Summers, who has been critical of the Fed in the past. But there are “no silver bullets or miracle cures,” said Summers — especially not in the three weeks ahead of US midterm elections.

☆ The world's second-richest man, Louis Vuitton's CEO, sold his private jet after people started tracking it on Twitter: 'No one can see where I go'
▼ + stars: | 2022-10-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Bernard Arnault said LVMH sold its private jet after Twitter accounts started tracking it. Antoine Arnault argued that a private plane gives executives an edge in the race to be first to a new product or deal. "We haven't found anything better than a private plane to win that race every day and be just a small step ahead of our competitors," he added. Arnault is not the only billionaire to come under fire in recent months for private jet usage. Other public figures have expressed safety concerns over the sharing of flight data on social media.

☆ Amazon has reportedly been spying on workers' private Facebook groups and tracking their plans to 'strike or protest'
▼ + stars: | 2020-09-02 | by ( Tyler Sonnemaker | ) www.businessinsider.com time to read: +3 min

On Tuesday, Vice reported that Amazon had been monitoring dozens of private and public social-media groups operated by Amazon Flex drivers across the US, the UK, and Spain. The tool monitors conversations taking place across various platforms, including in private Facebook groups, subreddits about driving for Amazon Flex, and tweets containing the keyword "Amazon Flex," Vice reported. On a login screen for the tool, according to Vice, Amazon described the contents as "classified," adding: "DO NOT SHARE without proper authentication. Amazon employees held a protest and a walkout over conditions at the company's Staten Island distribution facility on March 30 in New York City. But as Amazon workers have become more unified in speaking out about their treatment, the company has responded by becoming increasingly hostile to their efforts to organize.

Persons: —, Amazon, Spencer Platt, They've, Jeff Bezos Organizations: Service, Business, Amazon, Amazon Flex, Facebook, Getty, Foods Locations: Spain, Island, New York City, New York , California, Minnesota , Illinois, Italy

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