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Search resuls for: "Theron Mohamed"


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☆ Mark Zuckerberg could become the richest person on the planet after a $51 billion wealth surge this year
  + stars: | 2024-09-11 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Mark Zuckerberg could become the world's wealthiest person after surging up the rich list. The Meta CEO has gained $51 billion this year and recently ranked third in net worth. Go to newsletter preferences Thanks for signing up! AdvertisementMark Zuckerberg has rocketed up the ranks of the world's richest people — and could take the top spot for the first time. Zuckerberg sits in fourth place at the time of writing, behind Tesla's Elon Musk (worth $248 billion), Amazon's Jeff Bezos (worth $202 billion), and LVMH's Bernard Arnault (worth $180 billion).
Persons: Zuckerberg, Jeff Bezos, —, Mark Zuckerberg, Tesla's Elon Musk, LVMH's Bernard Arnault Organizations: Elon, Service, Meta, Facebook, Bloomberg, Business
☆ Trump's tariffs would eat up time and money at even the smallest business, Mark Cuban says
  + stars: | 2024-09-10 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +5 min
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMark Cuban has warned that Trump's plan to impose sweeping tariffs on US imports would burden even tiny businesses with expensive, arduous compliance. Related storiesHe was critical of Trump's tariffs on China during his time in the White House and has slammed the Republican candidate's threat of more of the same. "Tariffs are the worst possible incentive for all but a few products," he said, adding that they "almost always" cost consumers more money. Tariff pain and small business woePaul Krugman has been vocally against plans for fresh tariffs if Trump wins in November.
Persons: —, Cuban, Elon Musk's, Grok, Trump, He's, Kamala Harris, Paul Krugman, what's, Kevin O'Leary Organizations: Service, Business, Cuban, Trump, Republican, Dallas Mavericks, Yahoo, White, Democratic, Getty Locations: Cuban, China, Wisconsin
☆ 'Shark Tank' star Kevin O'Leary happily gives cash to help relatives — but they can never ask him again.
  + stars: | 2024-09-10 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Kevin O'Leary shared his approach to family members who ask him for cash. The "Shark Tank" investor gifts the money instead of lending it, and demands they never ask again. AdvertisementLending cash to family members can make things awkward, breed resentment, and even destroy relationships if they struggle to make payments or take the money and run. The "Shark Tank" star recently shared his personal policy in a video clip posted across his social media channels. Related storiesWhile family members should care for each other, "that doesn't extend to, 'Oh, I want to open a disco, I need $100,000,'" he noted.
Persons: Kevin O'Leary, O'Leary, —, you've, It's, it's, I've Organizations: Service
☆ $100 billion club shrinks to 12 members as slump in stocks knocks 3 people out
  + stars: | 2024-09-09 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
The $100 billion club lost three people last week as tumbling stocks dented their net worths. Only 12 members remain after Jensen Huang, Michael Dell, and Gautam Adani shed their elite status. Go to newsletter preferences Thanks for signing up! AdvertisementThe $100 billion club has lost three members in four days, shrinking the elite group of the world's superwealthy to just 12 people. Nvidia CEO Jensen Huang, personal-computing pioneer Michael Dell, and Indian industrialist Gautam Adani saw their net worths tumble below $100 billion last week, per the Bloomberg Billionaire Index.
Persons: Jensen Huang, Michael Dell, Gautam Adani, — Organizations: Service, Nvidia, Bloomberg, Labor, Business
☆ Warren Buffett has donated more than half his fortune to the Gates Foundation and 4 family foundations. Take a closer look.
  + stars: | 2024-09-07 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Warren Buffett has donated more than half his wealth to five foundations since 2006. He's gifted Berkshire Hathaway stock to the Gates Foundation and four of his family's foundations. Go to newsletter preferences Thanks for signing up! AdvertisementWarren Buffett has given more than half his vast fortune to five foundations since 2006. The 94-year-old investor is worth $145 billion thanks to a 15% stake in his Berkshire Hathaway conglomerate.
Persons: Warren Buffett, He's, Berkshire Hathaway, Here's, —, Susan, Buffett Organizations: Berkshire, Gates Foundation, Service, Berkshire Hathaway, Business Locations: Berkshire
☆ Alice Walton is the world's richest woman — and may soon be worth $100 billion
  + stars: | 2024-08-24 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Alice Walton has overtaken Françoise Bettencourt Meyers as the world's richest woman this year. The Walmart and L'Oréal heiresses are worth $95 billion and $90 billion respectively, per Bloomberg. Walton is close to passing the $100 billion mark and joining the elite club of centibillionaires. AdvertisementThe heiress to the Walmart fortune has leapfrogged the L'Oréal heiress to become the world's richest woman — and could soon cross $100 billion in net worth. Alice Walton, daughter of retail icon Sam Walton, is worth more than $95 billion for the first time, per the Bloomberg Billionaires Index.
Persons: Alice Walton, Françoise Bettencourt Meyers, Walton, —, Sam Walton Organizations: Walmart, L'Oréal, Bloomberg, Service, Business Locations: centibillionaires
☆ Economist Paul Krugman defends Harris' price-gouging plan — but 'Shark Tank' star Kevin O'Leary calls it a 'horror film'
  + stars: | 2024-08-23 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +5 min
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. What works is to flood the market with supply: lots of oil means lower oil prices, lots of labor means lower labor prices, lots of whatever means lower prices — it's a simple supply and demand curve. Obviously, this is a populist political gesture — a way to offer something to voters upset about high food prices. Krugman noted that many states including Texas have laws banning businesses from overcharging for essentials like food and fuel during disasters.
Persons: —, Kamala Harris, Harris, Lindsay Owens, Donald Trump, Mark Zandi, Kamala, Dave Ramsey, It's, cramp, Kevin O'Leary, there's, That's, There's, O'Leary, it's, Kamala Harris's, Gus Ruelas, Paul Krugman, I've, Richard Nixon, Nicolas Maduro, Krugman, Brian Cornell, Cornell Organizations: Service, Democratic, Business, Federal, CBS, Republican, York Post, Fox, Netflix, Fox News, Laureate, Princeton, New York Times, CNBC Locations: York, America, Cuba, Venezuela, North Korea, Soviet Union, Texas, overcharging
☆ An oil tycoon sold his company for $26 billion this year — but died before the deal closed
  + stars: | 2024-08-22 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Autry Stephens agreed to sell his company for $26 billion in cash and stock in February. The oil tycoon was set to become one of the world's 100 richest people, but he died this month. Go to newsletter preferences Thanks for signing up! AdvertisementAutry Stephens struck a deal in February that would have made him America's richest oilman and one of the world's 100 wealthiest people — but he died before it closed. The founder and owner of Endeavor Energy Resources agreed to sell the Texas oil producer to Diamondback Energy for $26 billion this spring.
Persons: Autry Stephens, Stephens, — Organizations: Service, Endeavor Energy Resources, Diamondback Energy, Wall, Business Locations: Texas
☆ Trump called inflation a disaster for consumers — and Musk blamed it on government waste
  + stars: | 2024-08-13 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Donald Trump and Elon Musk called out the pain caused by high levels of inflation in recent years. Trump bemoaned that people can't afford groceries and savers have been "decimated" by rising prices. Musk blamed inflation on government overspending and pushed for deregulation to bring down costs. Go to newsletter preferences Thanks for signing up! AdvertisementDonald Trump and Elon Musk lamented the brutal impact of rising prices in their X Spaces conversation on Monday.
Persons: Donald Trump, Elon Musk, Trump, — Organizations: Service, Elon, Business
☆ Warren Buffett's company is so big it's like a mini US economy. Here's what it signals about the state of consumers.
  + stars: | 2024-08-13 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Read previewThe latest figures from Warren Buffett's Berkshire Hathaway suggest consumers are faring better than they were just a year or two ago. Thomson ReutersHomeServicesReal estate brokerage revenues were almost flat and after-tax earnings rose 21%. New home unit sales rose 11% after dropping 20%, but pre-tax earnings fell 10%, similar to their 12% decline last year. But pre-tax earnings jumped 10% due to higher margins and lower operating expenses that offset the lower sales. AdvertisementRetailThe odd one out was the retailing subdivision, where revenues fell 4.5% and pre-tax earnings fell 23%.
Persons: —, Warren Buffett's Berkshire Hathaway, Here's, Thomson, Warren Buffett, Clayton, Rick Wilking, Berkshire, They've, There's Organizations: Service, Business, Thomson Reuters, Clayton Homes, Reuters McLane, Berkhire Hathaway Locations: Warren Buffett's, Berkshire, Renton , Washington, Omaha , Nebraska
☆ Warren Buffett once told Barack Obama the wealthy should pay more tax — and that his wealth is partly down to luck
  + stars: | 2024-07-14 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Warren Buffett met with Barack Obama years before he became President. The billionaire said the rich should pay more tax, and flagged wealth inequality as a big problem. Buffett attributed a chunk of his success to luck and defended inheritance taxes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett called for higher taxes on the rich, bemoaned wealth inequality, and credited a big part of his success to luck in a conversation with Barack Obama long before he became president.
Persons: Warren Buffett, Barack Obama, Buffett, —, Berkshire Hathaway Organizations: Service, Berkshire, Business Locations: Illinois
☆ A basic income program helped struggling kids enjoy huge success — and even become Olympians
  + stars: | 2024-07-10 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
A basic income program in rural Romania has helped children succeed — and even become Olympians. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementA basic income program in rural Romania has helped disadvantaged children build successful careers, overcome family problems and emotional challenges, and even become Olympic athletes. The initiative is an offshoot of universal basic income — the idea of giving cash to everyone in a society regardless of their wealth and with no strings attached, to provide a safety net and combat poverty.
Persons: — Organizations: Service, Olympic, Business Locations: Romania
☆ AI stocks are in a costly bubble — and Nvidia may wither like a dot-com darling, markets guru says
  + stars: | 2024-07-08 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
A veteran analyst says AI is unproven, and stocks such as Nvidia are in a bubble and could wither. Ferguson sees shades of the dot-com bubble, warning Nvidia might lose its edge like Intel and Cisco did. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementArtificial intelligence is still just a pricey experiment, AI stocks are in a dangerous bubble, and Nvidia might wither like dot-com darlings Intel and Cisco, according to a markets guru. Ferguson recommended investors diversify their portfolios away from large-cap US growth stocks to limit their exposure if the tech bubble bursts.
Persons: MacroStrategy's James Ferguson, Ferguson, —, James Ferguson, Merryn, I'm, It's Organizations: Nvidia, Intel, Cisco, Service, MacroStrategy, Tech
☆ Billionaire Ray Dalio thinks universal basic income is no magic wand — and may even do more harm than good
  + stars: | 2024-07-08 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewUniversal basic income is winning support from some as a powerful tool to combat poverty, but Ray Dalio thinks it could be harmful and pull cash away from better social programs. Dalio is the billionaire founder of Bridgewater Associates, the world's largest hedge fund, and the official mentor to its three co-chief investors. Who are you giving the $1,000 to, and what will they do with that $1,000?" In a follow-up post, Dalio emphasized that he sees the wealth-and-opportunity gap as the "greatest threat" to the US.
Persons: —, Ray Dalio, Dalio, Lex, who'd Organizations: Service, Bridgewater Associates, Business
☆ Warren Buffett paid just $31,500 for his home of nearly 70 years. Read his 8 best quotes about buying a house.
  + stars: | 2024-07-06 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Warren Buffett has lived in the same family home in Omaha for almost 70 years. The billionaire paid just $31,500 for the house, which is now worth about $1.4 million. Here are Buffett's best quotes about buying a home, which he says can be both a great and terrible idea. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett, one of the world's wealthiest people worth almost $130 billion, has lived in the same unassuming house in Omaha for nearly 70 years.
Persons: Warren Buffett, —, Buffett Organizations: Service, Business Locations: Omaha
☆ This soccer star who came from nothing has been funding universal basic income in his hometown for years
  + stars: | 2024-07-05 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Read previewYouTube star Jimmy "MrBeast" Donaldson recently donated $200,000 toward a universal basic income program in the Ugandan village of Karamoja. A top soccer player who grew up desperately poor has funded a similar initiative in his African hometown for years. This story is available exclusively to Business Insider subscribers. In addition, I give 70 euros per month to all people in a very poor region of Senegal which contributes to their family economy. AdvertisementAl Nassr didn't immediately respond to a request for comment from Business Insider.
Persons: —, Jimmy, MrBeast, Donaldson, Sadio Mané, Al Nassr, Mané, Sadio, Visionhaus, Elon Musk, Sam Altman, Ferraris, He's, Al Nassr didn't Organizations: Service, Liverpool, Bayern Munich, Business, Saudi, Africa, Afrique, barefooted Locations: Ugandan, Karamoja, Saudi, Senegal, Bambali
☆ Universal basic income has gone from utopian vision to economic reality. Here's what you need to know about UBI.
  + stars: | 2024-07-04 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +8 min
Read previewUniversal basic income has made giant strides from its origins as a utopian vision toward becoming economic reality. Basic income trials have been conducted in countries as varied as Kenya, Finland, India, and Canada. Proponents of UBI say it reduces poverty, strengthens the social safety net, promotes health and happiness, and combats the stigma around welfare. Basic income recipients in a Finnish trial reported higher life satisfaction, improved health, and lower levels of depression and loneliness. An open questionUniversal basic income remains a largely theoretical idea that could have significant — and unpredictable — impacts on wealth inequality, human welfare, labor markets, and entire economies.
Persons: —, Tesla's Elon Musk, Robert Reich, Juan Luis Vives, they'd, Thomas Paine, Martin Luther King Jr, Milton Friedman, Sen, Bernie Sanders of, technocrat Andrew Yang, Sam Altman, Bernie Sanders, Kevin Dietsch, Dave Ramsey, Karl Marx playbook, that's, Jack Kellam, MrBeast, Jeff Cheatham, Douglas MacKay, Chapel Hill, Karl Widerquist, Kellam, stigmas Organizations: Service, Labor, Business, Autonomy, UNC, Chapel, Georgetown University, Qatar Locations: Kenya, Finland, India, Canada, Spanish, Bernie Sanders of Vermont, Uganda
☆ Universal basic income is 'straight out of the Karl Marx playbook,' financial guru Dave Ramsey says
  + stars: | 2024-07-02 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Universal basic income is in vogue with many trials underway and people like Elon Musk touting it. Personal finance guru Dave Ramsey criticized UBI as "straight out of the Karl Marx playbook." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUniversal basic income is having a moment with trials launching across the globe, promising early test results, and the likes of Elon Musk singing its praises. "This is straight out of the Karl Marx playbook — this is not out of the Adam Smith playbook," Dave Ramsey said about UBI on "The Ramsey Show" last summer.
Persons: Elon, Dave Ramsey, UBI, Karl Marx playbook, —, Elon Musk, Adam Smith playbook Organizations: Service, Business
☆ Steve Ballmer is now worth $157 billion — more than his former Microsoft boss Bill Gates
  + stars: | 2024-07-02 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Steve Ballmer, who succeeded Gates as Microsoft CEO, is worth about $157 billion. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Gates, Microsoft's legendary cofounder and perhaps the world's best-known philanthropist, is in seventh place and worth $156.7 billion. He was $17 billion richer than Ballmer a year ago. This story is available exclusively to Business Insider subscribers.
Persons: Bill Gates, Steve Ballmer, Gates, —, Steve Ballmer's Organizations: Microsoft, Service, Bloomberg, Business
☆ Apple finally gets some good news in China as iPhone shipments surge
  + stars: | 2024-07-01 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Apple's iPhone shipments in China surged 40% in May, according to Bloomberg calculations. Shipments soared more than 50% in April, suggesting Apple is regaining ground in the key market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementApple appears to be reigniting iPhone demand in China, but its profit margins could pay the price. iPhone shipments in China soared about 40% in May, dwarfing a 13% rise in overall smartphone shipments.
Persons: —, dwarfing Organizations: Bloomberg, Apple, Service, China Academy of Information, Communications Technology, Business Locations: China
☆ Warren Buffett once went to China with Bill Gates — and lived on burgers, fries, and Cherry Coke
  + stars: | 2024-06-30 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Luckily his close friends, Microsoft cofounder Bill Gates and his then-wife Melinda, went to great lengths to ensure he wouldn't starve. "To his delight he was served course after course of his french fries —even for dessert," Schroeder reported. When they stopped at restaurants for lunch and dinner, Buffett was again served burgers and fries while the others chowed down on Chinese food. During a scenic private cruise, Buffett, Gates, and Gates' dad played bridge. "Buffett towed the Gateses straight to McDonald's to buy hamburgers in the middle of the night," Schroeder wrote.
Persons: —, Warren Buffett, Bill Gates, Melinda, Alice Schroeder, Buffett, Schroeder, Cherry Coke, Rick Wilking, Gates Organizations: Service, Business, Berkshire Hathaway, Reuters Locations: China, Sichuan, Champagne, gulps, Berkshire, Hong Kong
☆ The average household would need to save for 36 years to afford a typical home in LA. Here's how 50 US markets compare.
  + stars: | 2024-06-28 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
A median-income household must make a $128,000 down payment to comfortably afford a typical US home. It takes about 12 years to save that, rising to 36 years for a down payment in pricey Los Angeles. We've used Zillow data to rank 50 major metro areas by the number of years of saving needed. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Zillow found the typical Pittsburgh home only costs about $217,000, meaning a median-income household could take out a mortgage with zero money down and still afford the monthly payments.
Persons: We've, —, Zillow Organizations: Service, Business Locations: Los Angeles, Pittsburgh
☆ Warren Buffett reveals about $600 million of his wealth isn't in Berkshire Hathaway stock
  + stars: | 2024-06-28 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Warren Buffett revealed he owns about $600 million of assets apart from Berkshire Hathaway stock. The investor said his Berkshire A shares, worth $127 billion, represent 99.5% of his net worth. He likely keeps most of his remaining wealth in his private portfolio of stocks and bonds. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett just revealed he has about $600 million of personal wealth outside of his Berkshire Hathaway stock.
Persons: Warren Buffett, —, he's, Melinda Gates Organizations: Berkshire Hathaway, Berkshire, Service, Melinda Gates Foundation, Business Locations: Berkshire
☆ Testing brands, counting railcars, and watching 'Mary Poppins': how a young Warren Buffett found winning stocks
  + stars: | 2024-06-27 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Warren Buffett didn't just rely on financials and listings to pick winning stocks in the early days. He spent weeks counting railcars, went to see "Mary Poppins," and tested the American Express brand. "Buffett's Early Investments" outlines how the investor vetted bosses and hunted down shares to buy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere's a common perception that Warren Buffett struck gold as a young investor by poring over long lists of stocks and scooping up the cheapest ones.
Persons: Warren Buffett, Mary Poppins, —, Brett Gardner Organizations: American Express, Service, Oracle, Business
☆ LVMH boss Bernard Arnault raised his job's retirement age to 80. Warren Buffett told him that age limit was too low.
  + stars: | 2024-06-27 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Warren Buffett wrote to Bernard Arnault after the LVMH CEO raised his job's retirement age to 80. The investor told the luxury tycoon suggested he should have lifted it higher, Bloomberg reported. Berkshire Hathaway's 93-year-old CEO has argued that great bosses only get better with age. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAfter Bernard Arnault raised the retirement age for his job from 75 to 80 in 2022, Warren Buffett wrote to the luxury tycoon suggesting he should have hiked it higher.
Persons: Warren Buffett, Bernard Arnault, —, Berkshire Hathaway, Buffett Organizations: Bloomberg, Berkshire Hathaway's, Service, Berkshire, Business Locations: Berkshire
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