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Worth of Forbes’ billionaires list grows by $5T during pandemic

Worth of Forbes’ billionaires list grows by $5T during pandemic

World
April 6 (UPI) -- Forbes' annual World's Billionaires List grew to a record 2,755 people in 2021, adding $ 5 trillion in worth despite the economic downturn caused by the COVID-19 pandemic. The business magazine released its 35th annual list Tuesday, which saw an increase of 660 of people, including 493 newcomers. Collectively, the 2,755 people on the list represent $ 13.1 trillion in wealth, up from $ 8 trillion in 2020. Advertisement Amazon CEO Jeff Bezos maintained his hold at the top of the list for the fourth year in a row. He's worth $ 177 billion, up from $ 113 billion in 2020. Tesla and SpaceX founder and CEO Elon Musk shot to the No. 2 spot in 2021, up from No. 31 in 2020, increasing his net worth more than six-fold to $ 151 billion. He briefly held the position as world's richest...
Lance Stroll: ‘There are worse things to be than a billionaire’s son’

Lance Stroll: ‘There are worse things to be than a billionaire’s son’

Sports
Last updated on 27 minutes ago27 minutes ago.From the section Formula 1"I get there are worse things to be than a billionaire's son, I do recognise that."For Lance Stroll, money has always been an issue - just never the lack of it.The 22-year-old currently drives for Racing Point - a team part-owned by his billionaire father Lawrence Stroll. And while Stroll is still searching for his maiden Formula 1 victory, he has two podium finishes this season to add to his third-placed finish in his 2017 debut season. The Canadian recorded his first and so far only pole position at the Turkish Grand Prix in November.Stroll finished third at last weekend's Sakhir GP. But the race was won by team-mate Sergio Perez - who is being replaced at Racing Point by four-time champion Sebastian Vettel for next s...
Individual investors pulled $20 million from Fisher Investments after billionaire’s sexist comments

Individual investors pulled $20 million from Fisher Investments after billionaire’s sexist comments

Finance
Kenneth Fisher, founder of Fisher Investments.Jonathan Fickies | Bloomberg | Getty ImagesIndividual investors at Fisher Investments transferred $ 20 million from the firm the week after the billionaire made lewd comments at a conference, according to a research note from Mercer, an advisor to institutional investors.The development was disclosed on a conference call Fisher executives held on Oct. 14 with Mercer, to discuss the fallout from founder Ken Fisher's comments at the Tiburon CEO Summit, according to the note obtained by CNBC.When speaking at the conference on Oct. 8, Fisher had likened winning new clients to picking up women at a bar. He had used similar language at another conference in 2018.Though the billionaire apologized, institutional investors — including seven government p
The billionaires fuelling a space race

The billionaires fuelling a space race

Business
Dubbed "NewSpace", an increasing number of entrepreneurs are joining in the race to create cheap, commercialised space travel.Among these are billionaires Elon Musk, Jeff Bezos and Sir Richard Branson, who all made their fortunes in other industries. Between them, they're posing a major challenge to established space industry giants.Fuelled by intense rivalries, their ambitions include the development of space tourism and developing permanent human settlement on the Moon and even Mars.But emerging space entrepreneurs are also filling a huge void left by governments that have had to cut funding for space missions.As a result, names like SpaceX and Blue Origin are becoming part of the increasingly lucrative military space race as the US seeks to counter amb...