Companies & Businesses – Celebrity Net Worth http://celebritynetworths.org Mon, 27 Mar 2017 18:55:23 +0000 en-US hourly 1 https://wordpress.org/?v=4.7.3 Heinz-Horst Deichmann Net Worth http://celebritynetworths.org/heinz-horst-deichmann-net-worth/ http://celebritynetworths.org/heinz-horst-deichmann-net-worth/#respond Thu, 02 Feb 2017 22:21:18 +0000 http://localhost/!projects/!webs/celebritynetworths.org/heinz-horst-deichmann-net-worth/ The post Heinz-Horst Deichmann Net Worth appeared first on Celebrity Net Worth.

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ExxonMobil Net Worth http://celebritynetworths.org/exxonmobil-net-worth/ http://celebritynetworths.org/exxonmobil-net-worth/#respond Tue, 24 Jan 2017 12:04:32 +0000 http://localhost/!projects/!webs/celebritynetworths.org/exxon-net-worth/ The largest company in the world by market capital valuation is now ExxonMobil, a gas and oil multi-national conglomerate formed in 1999, with headquarters in Irving, Texas USA, which was actually the brainchild of founder – and a very familiar person in the ranks big business and ‘the richest’ – John D. Rockefeller back in …

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The largest company in the world by market capital valuation is now ExxonMobil, a gas and oil multi-national conglomerate formed in 1999, with headquarters in Irving, Texas USA, which was actually the brainchild of founder – and a very familiar person in the ranks big business and ‘the richest’ – John D. Rockefeller back in the late 1800s, himself being one of the richest people to ever live.

So just what is the net worth of ExxonMobil? Of course the net valuation of the company varies almost daily, according to the stock market prices of gas and oil in particular, but as of early 2017 it stands at $365 billion, although it has been as high as $450 billion, now constantly vying with Apple and more recently Alphabet (Google) as the highest valued company in the world.

ExxonMobil Net Worth $365 Billion

Most importantly, ExxonMobil is ranked by Fortune 500 as the second most profitable world company, regardless of recent volatility in oil prices; its revenue has apparently diminished little, still estimated to be the world’s 8th largest. Probably as equally important, the company’s shares remain sort-after by investors – as a publicly traded company it’s the fifth largest by market capitalization.

How did ExxonMobil grow into such a highly-valued company? The answer lies initially in the discovery, expansion of production, refinement, control of distribution, and sales of oil and its derivatives, beginning in 1870, promoted most energetically by John D. Rockefeller. Originally the company was called the Standard Oil Company of Ohio, soon amalgamating with the New York and New Jersey arms of Standard Oil in 1882 to form Standard Oil Trust. However, the Sherman Anti-Trust Law of 1892 decreed that the company had to be broken-up – it was too successful, too powerful in the oil industry, which presumably meant little competition at the points of sale.

The anti-trust process actually took nearly 20 years; one of the resulting 34 individual companies became Socony – an acronym for Standard Oil Company of New York – which subsequently became Mobil, and another became Jersey Standard, later Exxon, the two much later amalgamating into the conglomerate we know today. (‘The more things change, the more they stay the same!?’)

However, even then, not to be ‘outlawed’ or sidelined, several of the companies went about expanding by acquiring assets internationally, thus extending their overall influence on the market – the US legal authorities had little influence over companies domiciled outside their jurisdiction, even though controlled from within the US. Asia, including China, was incorporated into the New York company, and Canada into New Jersey; other companies established in the UK, Germany, The Netherlands, Italy and Belgium were also under the auspices of ‘Standard Oil’, so that by the early 1900s, Standard Oil was collectively stronger than ever.

Jersey Standard moved into South America, in Colombia in the form of Tropical Oil Company in 1920, and in Venezuela of Standard Oil Company (1921), and Creole Petroleum Company (1928). Oil was also found, and subsequently exploited and refined, in Indonesia, and in conjunction with Vacuum Oil Company – an early industry leader – effectively controlled the oil industry from East Africa to the south Pacific area.

Socony concentrated more on domestic production, including transportation by pipeline through the acquisition of Magnolia, very significant given the rising importance of the vehicle industry, but also ventured into Iraq through an association with the Turkish Petroleum Company in the late 1920s. By the late ‘40s, an interest had been acquired in Saudi Arabia – an area with the world’s largest known oil reserves – through Aramco (Arab-American Oil Company).

As can easily be seen, the various elements of what became ExxonMobil were way ahead of the field in the oil industry, especially at a time when usages of oil and refined products were approaching a peak.

Several name changes and amalgamations occurred during the ‘50s and ‘60s, and acquisitions continued into further primary sources, including of coal and the refining of this mineral into various products. Libya became another important oil source, but concurrently Socony and Jersey both branched out into solar and nuclear power, the former briefly as its usefulness was seen as too long-term to be profitable, and mining and processing of uranium ore began in the early ‘70s.

ALSO In the early ‘70s, oil shale deposits were also acquired and developed, including in Australia, obviously with an eye to the long-term future. This was also the time when Exxon was adopted as the company’s over-riding name, and became very visible at points of sale. Consolidation was the order of the day, but Mobil European Gas was established too, followed by amalgamation with British Petroleum (BP), so becoming one of the big players in Europe for oil and natural gas.

Finally, in 1999 both the European Commission and US Federal Trade Commission approved the merger of Exxon – at that time the largest energy company in the world – and Mobil, the second biggest gas and oil company in the US. One may well wonder what happened to the anti-trust laws implemented a century earlier? Well, Mobil had to divest itself of BP, its share of the German Aral company, and MEGAS. In the US, almost 2500 gas stations had to be sold, as well as refineries in California, New England and Washington D.C., plus Mobil’s interest in the Trans-Alaska Pipeline among other lesser assets.

However, ExxonMobil certainly did not stagnate, and more recent operations have seen sales to franchisees of gas stations in the US, cessation of coal-mining, but still further oil exploration in Central Asia – apparently linked with the interest of CEO Rex Tillerson, now nominated as US Secretary of State – plus an arrangement he allegedly concluded with the Russian company Rosneft, but stymied somewhat by sanctions imposed on Russia following its invasion of Ukraine. Interests in the Middle East (Sudan, Syria, Iran) have also continued to develop – not, supposedly, in contravention of various sanctions imposed.

Clearly there is power in strength, both commercially and politically, and ExxonMobil is one of the prime examples – to coin a phrase, the company is ‘too big to fall/fail’; that has been quoted before, but not always accurately.

Significantly, there have been many accidents particularly involving oil spillage, eg the oil tanker Exxon Valdez running aground in Alaska in 1989, which eventually cost the company $500 million in damages, apart from the cost of the clean-up; but the penalties of such incidents the company is easily financial enough to withstand. Most such cases have occurred within the USA.

Regardless, ExxonMobil remains a giant in the power production industry, if perhaps waning a little as reliance on oil and its derivatives diminishes somewhat around the developed world at least. However, given the company’s wider interests aside from oil, there is every possibility that its financial strength may well see it being a significant player in various other sources of power in the near future.

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Intel Net Worth http://celebritynetworths.org/intel-net-worth/ http://celebritynetworths.org/intel-net-worth/#respond Tue, 24 Jan 2017 11:57:27 +0000 http://celebritynetworths.org/?p=30410 Intel Corporation should be well known to anyone who has access to a computer, as by value it is the world’s biggest manufacturer of microprocessors – the ‘engine’ for many computers – and is the supplier of these and other parts to such companies as Dell, Hewlett Packard and Lenovo (formerly IBM), not to mention …

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Intel Corporation should be well known to anyone who has access to a computer, as by value it is the world’s biggest manufacturer of microprocessors – the ‘engine’ for many computers – and is the supplier of these and other parts to such companies as Dell, Hewlett Packard and Lenovo (formerly IBM), not to mention Apple.

So just what is the net worth of Intel? Authoritative sources estimate that the value of Intel is now over $150 billion, as of early 2017, with almost two-thirds of its current $55 billion total revenue coming from sales of hardware components for use in laptop, notebook and desktop computers.

Intel Net Worth $150 Billion

Intel is a technology company, now multi-national, as it has expanded considerably since its foundation in the now familiarly-named Silicon Valley, California USA in 1968 by Robert Noyce and Gordon Moore. These two were pioneers in the development of semiconductors, and were joined early by engineer and businessman Andrew Grove – an émigré Hungarian – who is widely credited with the business management and subsequent growth of the company until well into the 2000s. (The name ‘Intel’ was formulated from integrated and electronics.)

The company went public within a couple of years, raising an impressive amount at that time of $6.8 million, over $23 per share. For the first decade of its existence, the company concentrated on bipolar 64-bit static random-access memory (SRAM), double the speed of competitors products, then the bipolar 1024-bit read-only memory (ROM), followed by the silicon gate SRAM chip, the 256-bit 1101. Improvements in and expansion of the range of products during the 1970s, plus modernised manufacturing processes meant that Intel’s business grew exponentially during the 1970s, but still concentrating on memory devices. The net worth of the company as well as its profits increased significantly.

Although the microprocessor had been created in the early ‘70s, there was no significant market until a decade later, when PCs became more widely in demand, and in any case when Japanese competition in memory products had also considerably increased. Moore and Noyce decided to concentrate on the further development of a micro-processor, which miniaturized the CPU of a computer, enabling much smaller machines to perform calculations formerly the province of only significantly larger machines.

Supplying major companies such as IBM with microprocessors for PCs, and eventually laptops and tablets, saw a rapid growth in Intel’s business during the 1990s, and then into the new millennium. Of course competition, and consequent legal accusations over intellectual property rights and industrial espionage ensued, plus converse arguments over anti-trust issues, but Intel still managed to stay at the head of the field in the development of micro-processing, and therefore profitability saw the company’s net worth at least maintained.

Intel undoubtedly regained its pre-eminent position in 2006, when its Core microarchitecture was released, to general critical acclamation, as the product was a huge advance in processor performance. This was followed in 2008 by Penryn micro-architecture, and later that year, Nehalem architecture, both positively received and maintaining Intel’s leadership in micro-processing.

However, Intel has also spread its wings somewhat in recent years. Among other acquisitions, it purchased computer security technology company McAfee in 2010, and in the same year Infineon Technologies, integrating Intel’s silicon chips with its wireless modem. In 2011 the specialist network switches company Fulcrum Microsystems was bought, and in 2012, a stake in ASML Holding, to assist Intel in research into wafer technology and extreme ultra-violet lithography. Other acquisitions have included such companies as – or parts of – Indisys, Password Box, Vuzix, Lantiq, and more recently design company Altera for over $16 billion.

From a business perspective, the company still produces three-quarters of its products in the US, but 75% of its revenue come from overseas. Additionally, companies such as Achronix, Microsemi, Tabula, Netronome and Panasonic are utilising leased excess Intel manufacturing capacity for their own products.

Intel’s headquarters are still in California, but its largest facility is in Washington County, Oregon, employing 18,600 workers, the biggest employer in the state and the same in New Mexico. 10,000 are employed in Arizona, and complexes are also located in California, Colorado, Massachusetts, Texas, Washington and Utah. Internationally, Intel facilities are now in 63 countries, including China, India, Russia, Israel, Argentina, Vietnam, Costa Rica, Malaysia and Ireland.

Finally, in what can be seen as a philanthropic effort, Intel is a member of the Alliance for Affordable Internet (A4AI), which also includes Google, Facebook, and Microsoft, the aim of which is to make internet access more affordable worldwide, as currently just 31% of people in developing countries are online –with the aim of reducing costs to under 5% of family income.

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Help In Accumulating Your Net Worth – Advice From The Experts http://celebritynetworths.org/help-in-accumulating-your-net-worth-advice-from-the-experts/ http://celebritynetworths.org/help-in-accumulating-your-net-worth-advice-from-the-experts/#respond Tue, 03 Jan 2017 01:13:05 +0000 http://celebritynetworths.org/?p=179435 These days, anyone can set up a company, work mostly for themselves, and eventually reap the benefits of their labours, assuming, that is, that they don’t make (too many) mistakes along the way. So, a little help along that way can often be welcome and appreciated, whether financial, physical or – perhaps most importantly for …

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These days, anyone can set up a company, work mostly for themselves, and eventually reap the benefits of their labours, assuming, that is, that they don’t make (too many) mistakes along the way. So, a little help along that way can often be welcome and appreciated, whether financial, physical or – perhaps most importantly for the independent-minded prospective business-person – mental.

Advice

Following, in no particular order, are quotes from leaders of business – founders, owners, chairpersons, CEOs – who have either reached a position that you would eventually like to be in, and are often self-made billionaires, if they did not inherit a fortune, but started virtually from scratch and made their ‘pile’ themselves. With grateful thanks and acknowledgements to these wealthy, wise and generous people who have learned well, collectively over many years, often through their mistakes. Please read and learn well!

Richard Branson (Founder and Chairman, Virgin Group)

Richard Branson

“Courage is what it takes to stand up and speak; courage is also what it takes to sit down and listen.” — “The Virgin Way: Everything I Know About Leadership,” 2014.

Ginni Rometty (Chairwoman, President and CEO, IBM)

IBM Names Rometty to Succeed Palmisano as First Female CEO

“Growth and comfort never coexist.” — Northwestern University commencement address, 2015

Evan Spiegel, (CEO, Snapchat)

TechCrunch Disrupt SF 2013 - Day 1

“You are going to make a lot of mistakes. I’ve already made a ton of them – some of them very publicly – and it will feel terrible, but it will be okay.” — Commencement address to the University of Southern California’s Marshall School of Business, 2015

Jack Ma (Founder and Executive Chairman, Alibaba Group)

Tsinghua Innovation Forum In Beijing...BEIJING, CHINA - APRIL 19

“Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.” — Interview with Rebecca Fannin, 2006.

Steve Case (Co-founder, AOL)

Steve Case

“A vision without the ability to execute is probably a hallucination.” — Business Week, 2001.

Tim Cook (CEO, Apple Inc.)

Tim Cook

“Your values matter. They are your North Star, and work takes on new meaning when you feel you are pointed in the right direction. Otherwise, it’s just a job, and life is too short for that.” — George Washington University commencement address, 2015.

Elon Musk (CEO and CTO of SpaceX and CEO of Tesla Motors)

TESLA MOTORS CEO ELON MUSK TALKS AT THE AUTOMOTIVE WORLD NEWS CONGRESS AT THE RENAISSANCE CENTER IN DETROIT

“I’d rather play video games, write software, and read books than try and get an A if there’s no point in getting an A.” — “Elon Musk: Inventing the Future” by Ashlee Vance, 2015

Jason Kilar (Founding CEO, Hulu)

Jason Kilar (Founding CEO, Hulu)

“The mountain peaks of one’s life may get the headlines and the Facebook posts, but the valleys… believe me, it is your journey through the valleys that will define you.” — University of North Carolina commencement address, 2015

Warren Buffett (CEO, Berkshire Hathaway)

AP BUYING LIKE BUFFETT F A USA NE

“Someone is sitting in the shade today because someone planted a tree a long time ago.”

“I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful, and you try to be fearful when others are greedy.” — “Of Permanent Value: The Story of Warren Buffett” by Andrew Kilpatrick, 2007.

Bill Gates (Co-founder, Microsoft)

Bill Gates

“Success is a lousy teacher. It seduces smart people into thinking they can’t lose.” — “The Road Ahead,” 1995.

Sheryl Sandberg (CEO, Facebook)

Sheryl Sandberg

“Trying to do it all and expecting that it all can be done exactly right is a recipe for disappointment. Perfection is the enemy.” — “Lean In,” 2013.

Mark Zuckerberg (Co-founder, Facebook)

Mark Zuckerberg

“I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress.” — “Mark Zuckerberg: Ten Lessons in Leadership,” 2012.

Howard Schultz (CEO of Starbucks)

Howard Schultz

“Risk more than others think is safe. Dream more than others think is practical.” — “Onward: How Starbucks Fought for Its Life without Losing Its Soul,” 2007.

Arianna Huffington (Co-founder and editor-in-chief, The Huffington Post)

Arianna Huffington

“We think, mistakenly, that success is the result of the amount of time we put in at work, instead of the quality of time we put in.” — “Thrive: The Third Metric to Redefining Success and Creating a Life of Well-Being, Wisdom, and Wonder,” 2014.

Larry Page (Co-founder, Google)

Fortune Global Forum

“You don’t need to have a 100-person company to develop that idea.” — Interview with Business Week Online Technology, 2001.

Narayana Murthy (Co-founder, Infosys)

INDIA-OUTSOURCING-MANAGEMENT-MURTHY-COMPUTERS

“Respect, recognition, and reward flow out of performance.” — Entrepreneur of the New Millennium N.R. Narayana Murthy: Life and Times of N.R. Narayana Murthy, 2003.

Henry Ford (Founder, The Ford Motor Company)

Henry Ford

“A business that makes nothing but money is a poor business.” — Quoted in News Journal, 1965.

Steve Jobs (Co-founder, Apple)

Steve Jobs, Apple's chief executive officer, speaks at the compa

“Your time is limited, so don’t waste it living someone else’s life.” Stanford Commencement address, 2005.

Nelson Mandela (Activist, Politician, President of South Africa, Humanitarian)

African National Congress vice-president Mandela addresses a capacity crowd

“Money won’t create success, the freedom to make it will.”

Barack Obama (Politician, US President)

Barack Obama

“Focusing your life solely on making a buck shows a poverty of ambition. It asks too little of yourself, and it will leave you unfulfilled.”

Unatributed

‘On your death-bed, your life is supposed to pass before your eyes – if  that’s right, make sure that it’s worth watching!”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Net Worth Of The World’s Richest Families http://celebritynetworths.org/worlds-richest-families/ http://celebritynetworths.org/worlds-richest-families/#respond Tue, 03 Jan 2017 01:09:24 +0000 http://celebritynetworths.org/?p=180773 The richest individuals around the world are constantly in the headlines, partly out of fascination for just how much they are worth – amounts unimaginable to the average person, regardless that 80% of ‘the richest’ are actually self-made billionaires. However, during this period of stock markets’ volatility in early 2016, they are just as newsworthy …

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The richest individuals around the world are constantly in the headlines, partly out of fascination for just how much they are worth – amounts unimaginable to the average person, regardless that 80% of ‘the richest’ are actually self-made billionaires. However, during this period of stock markets’ volatility in early 2016, they are just as newsworthy for how much they can lose, or gain, in one day, which can markedly effect their ranking on the ‘richest list’.

Not so well-known are families with accumulated net worth which puts them close to the aforementioned richest individuals, perhaps unsurprisingly if there are three, four or five relatively ‘super-rich’ relatives who pool their energies, business interests and their net worth. Many are indeed consistently linked in a family business or conglomerate, as can be seen in this list which authoritative sources estimate comprise the richest in the world, share markets allowing! Very few are built on ‘new’ money, but mostly the result of steady growth over, in some cases, hundreds of years.

10. Cox family Net worth: $34.5 billion

coxss family
From: USA

James M. Cox was firstly a social reforming politician, being twice elected Governor of Ohio, but also built a considerable business empire in the media and communications industries beginning before the turn of the 20th century, so now well over100 years old. Now under the control of James’ daughter Anne Cox Chambers and his grandchildren James Cox Kennedy – current chair of Cox Enterprises – and Blair Parry-Okeden who are all heirs to a considerable fortune, the company is now expanding its interests into the automotive industry.

9. Bernard Arnault & family Net worth: $37.7 billion

Bernard Arnault33
From: France

World renowned names Moet Hennessy and Louis Vuitton (LVMH) are just two of the business interests of the Arnault family, which also has interests in retail, yachts and web companies as well as in Christian Dior, a prominent fashion brand. CEO and chairman is still Bernard, but Executive VP at LVMH is daughter Delphine, and CEO of Berluti, a subsidiary of LMVH, is his son Antoine. The company made initial inroads into business through real estate, but smart investing saw it reach its current prominent position in several industries.

Bernard Arnault Net Worth

8. Liliane Bettencourt & family Net worth: $42.7 billion

Liliane Bettencourt333
From: France

The French are certainly still one of the fore-runners in the world of cosmetics and perfumes, as proven by their leading lengevity in the industry. The world-dominating cosmetic company L’Oreal is now run by Liliane Bettencourt’s daughter Francoise and grandson Jean-Victor Meyers, but she is still the richest woman in the world and principal shareholder of the company her father Eugene founded in 1907. She only retired from active involvement in 2011, aged 89.

7. Cargill-MacMillan family Net worth: $45 billion

Cargill-MacMillan family13
From: USA

Cargil Inc. outranks Koch enterprises in being the largest private company in the USA, with and 88% of it still owned by family members, in fact currently boasting 14 billionaires. William Wallace Cargill founded the company based on grain storage in 1865, which was split among his four children when he died in 1909. The company’s interests now include trading commodities as well as food products. In-laws the MacMillans are billionaires, the total wealth of the expanded family being an estimate because of the privacy attendant to the conglomerate.

6. Carlos Slim Helú & family Net worth $77.1 billion

Carlos Slim Helú & family33
From: Mexico

Son Carlos is now the chairman of Grupo Carso, and with three siblings is ready to take over completely the conglomerate built-up by the second richest person in the world. The ‘Warren Buffett of Mexico’, Carlos Slim Helú is so important to Mexico – accounting for 40% of the listings on the Mexican stock exchange – made from scratch largely from his development of telecoms, that there is a strong chance of the Mexican economy collapsing if the stock exchange took a real dive.

Carlos Slim Helu Net Worth

5. Mars family Net worth: $80 billion

The Mars Family51
From: USA

Mars Bars and M & Ms were developed more than 80 years ago, and are still going strong. Franklin Mars obviously knew his candy, and the money to be made out of it. As with other rich families, the family and the business are still private. Franklin founded the business in 1911, and son Forrest Sr. joined the company in 1929; children, Forrest Jr., Jacqueline and John continue to own the whole of Mars Inc., which now also makes pet foods as well as pasta sauces, and which means that they are now worth almost $30 billion each.

4. Koch family Net worth: $89 billion

multinational corporation22
From: USA

In the country with the world’s largest GDP, Koch Industries is now the second-largest privately-held company in the USA. Charles and David Koch had the nous to buy-out their two other brothers in the early 1980s, and now control the oil and refining company founded by their father Fred C. Koch in 1940. Subsidiary interests in finance, manufacturing, trading and real estate have ensured the continued growth of this multinational corporation, with the brothers net worth now approaching $50 billion each.

3. Walton family Net worth: $152 billion

walton family3
From: USA

Jim, Rob, and Alice are direct heirs of Sam and James Walton, who had the foresight to establish Walmart in the southern USA in 1962. Christy is the widow of his son John who died in a ‘plane crash in 2005, and with her children the six Waltons control 54% of the shares of the world’s largest retailer. The company’s revenue regularly hits $500 billion, through 11,500 stores in 28 countries, so the present owners sum value is usually over $160 billion – share market machinations permitting!

2. The House of Saud Net worth: $1.4 trillion

The House of Saud Net worth1
From: Saudi Arabia

The al-Saud family have been in control of at least part of the Arabian peninsular since the early 1700s, and like the Rothschilds, their wealth is now distributed through so many family members that the total can only be estimated. Saudi Arabia is now run as an absolute monarchy, effectively established under the patronage of the British following the break-up of the Ottoman empire after World War One. Of course their main source of wealth is oil, the price of which has a very significant effect on the al-Saud family wealth, and the budget of the country! Salman bin Abdulaziz al Saud has been king since early 2015.

1. Rothschild family $350 billion – $700 trillion

Rothschild family2
From: Germany (originally)

The name itself is fascinating, but more so because the family is now so widespread, with all their wealth effectively ‘private’, so the total of their net worth is always open to conjecture. However, since Mayer Amschel Rothschild established his banking company in Frankfurt, now Germany, in the 1700s, and distributed his five sons to the five centres of European finance, the family has had a finger in virtually every pie – business, industry, enterprise, exploration, war – over the last 250 years. Their influence has been such that descendents have been elevated to royal rank in countries such as Austria and the UK. The family fortune is therefore only an estimate, but even at the lower end it is still extremely impressive!

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The World’s Richest Self-Made Billionaires http://celebritynetworths.org/the-worlds-richest-self-made-billionaires/ http://celebritynetworths.org/the-worlds-richest-self-made-billionaires/#respond Tue, 03 Jan 2017 01:08:11 +0000 http://celebritynetworths.org/?p=180660 You will most probably be aware of who are – officially – the richest people in the world. However, you may not be aware that the majority of billionaires, over 1200 of the currently estimated 1500-plus billionaires around the world – in fact down from over 1800 in early 2015 because of falls in the …

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You will most probably be aware of who are – officially – the richest people in the world. However, you may not be aware that the majority of billionaires, over 1200 of the currently estimated 1500-plus billionaires around the world – in fact down from over 1800 in early 2015 because of falls in the stock market and the price of oil – are actually self-made; they did not begin their net worth-building with the benefit of a sizeable inheritance, or any other lump sum of money that gave them a head start in whatever business they were subsequently successful. Indeed, several started their climb up the financially profitable ladder with absolutely nothing, and from a very early age!

History is full of people who were self-made, becoming rich by fair means or foul – in many cases the latter – but the assumption today is that people with, to most of us, such a huge sum of money must have had a leg-up somehow; not so – research and development of, and demand for technological accessories is one big reason, world wide, so IT features prominently in the list. Since around 80% of billionaires are actually self-made, what are the rest of us waiting for!?

The following list comprises the richest in the self-made club, a snap-shot as of early 2016, acknowledging that the day-to-day volatility of share markets can have a significant effect on total wealth and therefore ranking; eg Mark Zuckerberg apparently gained over $6 billion on 27 January alone, while Carlos Slim went the other way! Perhaps unsurprisingly, 12 who make the list are either American-born or now American citizens, and no women make the top 20!

20. Phil Knight: $22 billion

Phil Knight1

  • Born: 28 February 1938, Portland, Oregon, USA
  • Nationality: American
  • Residence: La Quinta, California
  • Start in Business: 1962

Quickly switching from marketing Tiger sports-shoes to founding Nike in 1964, Phil ‘retired’ as CEO in 2006 to become Chairman until 2015 of one of the most profitable companies in the world. However, concurrently he became immersed in Laika (previously Vinto Studios), firstly as an investor and then CEO and Chairman, turning it into a successful film-making company today.

19. Steve Ballmer: $22.5 billion

Steve Ballmer

  • Born: 24 March 1956, Detroit, Michigan USA
  • Nationality: American
  • Residence: Washington State
  • Start in Business: 1978

To identify the source of Steve’s wealth, one only has to say that Steve was the very successful CEO of Microsoft from 2000-14, and remains the largest shareholder. However, he is still improving his net worth as the owner of the Los Angeles Clippers NBA team, which also enables him to indulge in his keen interest.

18. Carl Ichan: $23 billion

Carl Ichan1

  • Born: 16 February 1936, Queens, New York City, USA
  • Nationality: American
  • Residence: New York City
  • Start in Business: 1961

Carl began work as a ground-floor stockbroker, formed securities firm Icahn & Co in 1968, and subsequently Icahn Enterprises in 1987. He controls significant investments across many industries, including in Apple the value of which rose $8 billion in one day just from an Icahn comment! Other interests include PayPal, Xerox, and holding company Gannett. However, resource price declines saw Icahn’s wealth slip somewhat in 2015.

17. Leonardo Del Vecchio: $23.5 billion

Leonardo Del Vecchio

  • Born: 22 May 1935, Milan, Italy
  • Nationality: Italian
  • Residence: Milan, Italy
  • Start in Business: 1961

Versace, Burberry, Prada, Ray-Ban, Oakley and Sunglass Hut are just a few of the brands owned by Leonardo through Luxottica, founded in 1961 and which has become the world’s biggest eye-wear retailer, and of which he is still chairman. Considering that he was effectively orphaned, and began work at the bottom as a tool-making apprentice, Del Vecchio is an outstanding example of the self-made billionaire.

16. George Soros: $25 billion

Rebuilding Economics: George Soros

  • Born: 12 August 1930, Budapest, Hungary
  • Nationality: dual Hungarian-American
  • Residence: Bedford, New York State
  • Start in Business: 1954

A (Jewish) refugee with virtually nothing after the Battle of Budapest in 1945; graduating with a PhD from the London School of Economics – the leading ‘producer’ of billionaires in the UK – while working at any jobs he could get; securing a position in the London finance industry; moving to the USA in 1956; subsequently founding Soros Fund Management in 1970; becoming a billionaire by 1980; a real ‘rags-to-riches’ story. Along with Warren Buffett, he is recognised as an extremely knowledgeable investor, even ‘breaking the Bank of England’ through currency speculation in 1992.

15. Sheldon Adelson: $26 billion

Sheldon Adelson

  • Born: 4 August 1933, Dorchester, Massachusetts, USA
  • Nationality: American
  • Residence: Boston, Massachusetts
  • Start in Business: 1979

Sheldon is still the CEO and chairman of his beloved Las Vegas Sands casino, plus owning casinos in Singapore and Macao. Not bad for a youngster who started by borrowing a couple of hundred dollars from an uncle to buy a newspaper round when he was just 12 years old. He moved up to candy-machines when he was 16, and has seldom looked back, although not all of his 50-plus businesses have proved as successful as his current interest.

14. Jack Ma: $27 billion

Jack Ma

  • Born: 10 September 1964, Hangzhou, China
  • Nationality: Chinese
  • Residence: Hong Kong/Hangzhou
  • Start in Business: 1995

Visiting the USA in the mid-90s, Jack Ma was astounded to find virtually no information about China anywhere on the internet. He scraped together $20,000 and began developing web sites for Chinese companies – the beginning of the Alibaba group, and the start of his road to becoming the richest man in China. There are now nine companies under the Alibaba umbrella, which raised $25 billion, the largest amount ever, at its IPO on the New York Stock Exchange in 2014. Jack now serves as the chairman.

14. Jorge Paulo Lemann: $27 billion

Jorge Paulo Lemann

  • Born: 26 August 1938, Rio de Janeiro, Brazil
  • Nationality: dual Swiss-Brazilian
  • Residence: Rapperswil-Jona, Switzerland
  • Start in Business: 1966

Although beginning his working life with Credit-Suisse as a trainee, such companies as Burger King, Anheuser-Busch and Tom Horton’s, as well as a large stake in Kraft-Heinz through 3G Capital are now the bases of Lemann’s wealth. His financial background has helped Jorge survive several reverses in the business and financial world, and maintain his position as the richest (half-) Brazilian.

12. Lee Shau-kee: $28 billion

Lee Shau-Kee, Chairman Of Henderson Land, Speaks At News Conference

  • Born: 29 January 1928, Shunde District, Guangdong, China
  • Nationality: Chinese
  • Residence: Hong Kong
  • Start in Business: 1950s

Lee was wise enough to move to Hong Kong before the communists took over in mainland China, and becoming involved in real estate in a place where land is in short supply was an even smarter move. Today he is chairman and MD of Henderson Land Development Company which he founded in 1973, but also has interests in gas and internet services. Lee is sometimes referred to as “Hong Kong’s Buffett”, a compliment indeed.

11. Sergey Brin: $29 billion

Google co-founder Sergey Brin takes questions from the media following presentations at a media preview of Google's prototype autonomous vehicles in Moutain View, California

  • Born: 21 August 1973, Moscow, Russia
  • Nationality: American
  • Residence: Los Altos, California
  • Start in Business: 1997

A co-founder of Google (now a part of Alphabet) with Larry Page in 1998, Sergey has utilised his computer science degree well to help build the company into the most used search-engine on the internet. Sergey now heads Google X, and his net worth continues to increase, although already having reached a position he is unlikely to have imagined when migrating with his (Jewish) parents from the Soviet Union in 1980, where their personal advancement was stymied under communism.

10. Larry Page: $31 billion

Larry Page1

  • Born: 26 March 1973, East Lancing, Michigan, USA
  • Nationality: American
  • Residence: Palo Alto, California
  • Start in Business: 1997

Moving on from BackRub to co-found Google with Sergey Brin was Larry’s real starting point to financial success, as the change was from university-orientated to offering their product to the world – and what a world it has turned out to be. Larry had some start in that his father was a computer scientist, but was certainly not rich, and Larry became a totally self-made billionaire before the age of 30.

9. Michael Bloomberg: $34 billion

Michael Bloomberg

  • Born: 14 February 1942, Boston, Massachusetts, USA
  • Nationality: American
  • Residence: New York City
  • Start in Business: 1969

From his start in 1967 as a trader with Salomon Brothers to Mayor of New York is not a normal career progression, but Bloomberg first made his wealth through becoming a partner in 1973, and then developing his own market information service via Bloomberg L.P founded in 1981. As with most successful entrepreneurs, Bloomberg spotted a niche which needed to be filled, but then also believed that he could manage a major city, and served three terms as mayor from 2002-2013. He is now back as CEO of his own company.

8. Carlos Slim Helú: $37 billion

Carlos Slim Helú

  • Born: 28 January 1940, Mexico City, Mexico
  • Nationality: Mexican
  • Residence: Mexico City
  • Start in Business: 1962

Carlos has made most of his wealth from developing telecommunications companies in Mexico, particularly in mobile ‘phones, but as befits an engineering graduate, also has other manufacturing interests and a wide variety of companies. His net worth began when he bought bonds at the age of 11, and has been known as a hard-worker and very capable financial manager ever since – “The Buffet of Mexico”.

7. Jeff Bezos: $40 billion

New Washington Post Owner Jeff Bezos Addresses Newsroom

  • Born: 12 January 1964, Albuquerque, New Mexico, USA
  • Nationality: American
  • Residence: Seattle, Washington State
  • Start in Business: 1992

Jeff’s background was in finance and computing, until he put the two together in 1994 to found on-line merchandiser Amazon, identifying an opening concurrent with the rapid growth of internet use. Still no other company approaches Amazon’s volume of business, now world-wide. Jeff is also known as the proprietor of “The Washington Post”, although his interest in editorial comment is apparently minimal.

6. Mark Zuckerberg: $47 billion

Mark Zuckerberg

  • Born: 14 May 1984, White Plains, New York State, USA
  • Nationality: American
  • Residence: Palo Alto, California
  • Start in Business: 2004

The co-founder of Facebook is a voluntary drop-out from Harvard, a university second on the list for billionaire alumni, but seems to have done alright for himself, accumulating his present fortune in just 12 years, and one of the youngest to reach the billionaire mark at 27 – nothing else needs to be said!

5. Ingvar Kamprad: $48 billion

Ingvar Kamprad

  • Born: 30 March 1926, Agunnaryd, Sweden
  • Nationality: Swedish
  • Residence: Smaland, Sweden
  • Start in Business: 1943

Given a small amount of money by his father for doing well at school, Ingvar established IKEA when he was 17, originally sold by mail order and therefore flat-packed, and building it into the largest retailer of furniture in the world, selling over $25 billion in stock in 2015. At current rates, Ingvar became a member of the billionaire’s club by the time he was 30.

4. Larry Ellison: $52 billion

Larry Ellison2

  • Born: 17 August 1944, Manhattan, New York City, USA
  • Nationality: American
  • Residence: Woodside, California
  • Start in Business: 1977

Beginning working life as a programmer, Larry was knowledgeable enough to identify the need for a relational data base management system; Oracle was originally written specifically for the CIA, which with two colleagues was developed and released in 1979. With that significant reference, the company has generally prospered since, except for a difficult period when sales were over-stated, and spread widely into Europe. Ellison was CEO until 2014, when he became chairman and CTO. He also has significant real estate holdings, part of which is an Hawaiian island. Larry was adopted from his single mother, and never graduated from university, as his interest in computing wasn’t catered for – as with others on this list. Lack of a degree doesn’t seem to have been a hindrance!

3. Amancio Ortega: $65 billion

Amancio Ortega

  • Born: 28 March 1936, Leon, Spain
  • Nationality: Spanish
  • Residence: La Coruna, Spain
  • Start in Business: 1972

Zara, a fashion designing and retailing company, was founded by Amancio in 1975 – it’s reputation is that it is all things to all people, a novel idea which has certainly hit the mark ever since, including promoting Ortega to be the richest person in Spain.

2. Warren Buffett: $73 billion

Warren Buffett

  • Born: 30 August 1930, Omaha, Nebraska, USA
  • Nationality: American
  • Residence: Omaha, Nebraska
  • Start in Business: 1970

It’s hard to believe, but “The Sage of Omaha” began trading shares at the age of 11, with money saved from his newspaper round, which he subsequently bought. Now he is accepted as perhaps the most knowledgeable investor in the world, with shares in his Berkshire-Hathaway fund trading at over $200,000 each, by far the highest on the NYSE. Regardless of his current wealth, Warren clearly appreciated the value of money from a very early age, and even now recognises that you still need to work to get it!

1. Bill Gates: $86 billion

Bill Gates

  • Born: 28 October 1955, Seattle, Washington State, USA
  • Nationality: American
  • Residence: Medina, Washington State
  • Start in Business: 1975

Another Harvard drop-out, but an entrepreneurial designer from that time, Bill has been at the head of research and development in IT as the founder of Microsoft, and at its head for more than 40 years. He has been at the top of this list for most years in the last 20, despite now committing most of his, and his wife’s wealth to philanthropic activities.

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Smile on Facebook’s Face http://celebritynetworths.org/smile-on-facebooks-face/ http://celebritynetworths.org/smile-on-facebooks-face/#respond Tue, 03 Jan 2017 01:02:03 +0000 http://celebritynetworths.org/?p=170089 Mark Zuckerberg, the ‘face of Facebook’, must indeed be smiling these days. Not only does the company which he co-founded in 2004 continue to expand it’s clientele, but the value of Facebook and his personal wealth, and therefore his – literally – disposable income, continue to rise. Statistics seldom tell a complete story, but Zuckerberg’s …

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Mark Zuckerberg, the ‘face of Facebook’, must indeed be smiling these days. Not only does the company which he co-founded in 2004 continue to expand it’s clientele, but the value of Facebook and his personal wealth, and therefore his – literally – disposable income, continue to rise.

Statistics seldom tell a complete story, but Zuckerberg’s and Facebook’s figures are genuinely impressive, beginning with Mark dropping out of prestigious Harvard University in 2004 because he was so interested in computing and confident of his project which was to become Facebook, that he didn’t see the need to complete his degree course; disagreements with university administration may have contributed to his decision.

As of late 2015, the social network site Facebook is recording over one billion users a day, and Zuckerberg’s fortune approaches $45 billion, ranking him as the seventh richest person in the world according to the authoritative Forbes magazine, a meteoric career to date for a person still just 31 years old. Significantly, Forbes rates Zuckerberg’s ‘self-made’ score very highly too, as indeed are almost all the top 10 richest in the world.

Of particular significance is that Facebook has been immune to the volatility of stock exchanges in 2015, enabling a steady rise in the value of company assets. Of course this situation has also benefited the majority share holder, Mark Zuckerberg to the extent that while others in the Forbes Top Ten Richest have seen their fortunes eroded somewhat, Mark’s has risen by almost $7 billion in the year.

Interestingly, Mark and wife Priscilla are two of the most generous philanthropists, joining with fellow ‘top tenners’ Bill Gates and Warren Buffett in promising to donate (‘dispose of’) a reputed 50 per cent of their fortune to charitable causes, as evidenced this year alone by a donation of $100 million to the Newark, New Jersey public school system, and $5 million to fund education for struggling immigrants.

Clearly Zuckerberg and Facebook are rather more than just social animals: long may they smile.

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Musicians – The World’s Highest Earners http://celebritynetworths.org/musicians-the-worlds-highest-earners/ http://celebritynetworths.org/musicians-the-worlds-highest-earners/#respond Tue, 03 Jan 2017 00:59:56 +0000 http://celebritynetworths.org/?p=180239 Gone are the days when the number of albums(LPs), extended plays(EPs) or singles contributed the most to a musician’s earnings; even CDs, DVDs and videos have now paled into insignificance, largely as a consequence of the availability on-line of almost any release, most at effectively knock-down prices, and even free. Music writing has also fallen …

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Gone are the days when the number of albums(LPs), extended plays(EPs) or singles contributed the most to a musician’s earnings; even CDs, DVDs and videos have now paled into insignificance, largely as a consequence of the availability on-line of almost any release, most at effectively knock-down prices, and even free. Music writing has also fallen by the wayside in terms of earning capacity – well, at some point the scripts need to be turned into actual music, and then … read above!

So, how do modern musicians build their net worth? In some ways, the music world has gone back to square one – before the modern era of electronics, the only way musicians could earn their money was by personal appearance, in front of a live audience, and so it is today. Of course TV appearances also contribute somewhat, but the majority of a musician’s income now is from concert tours or, for a few, lengthy contracts in such places as a Las Vegas casino, but those artists tend to be performers who have been around for some time and are well regarded by public and promoters alike. One other big contributor is endorsements: a wide variety of companies now use high-flying musicians to boost their sales, probably boosting the artist too by increased exposure.

Musicians and Money1

The following is a list of the top 20 musicians, by income, over the most recent year for which figures are available – mid-2014 to mid-2015. Maybe you can guess who is at the top of the list, but possibly not – as always, there are a few surprises when such lists are compiled, in this one because there are several ‘oldies-but-goodies’ in there – age is certainly no barrier if you are still good enough! Worth noting is that last year’s No 1., Dr. Dre is at No 30 this year – not even he could repeat the sale of Beats, which brought him $620 million in one hit(!). All artists are American unless identified otherwise.

The count includes gross income from all sources – concerts, album and single sales, publishing, endorsements, and any other business ventures as mentioned below, before any deductions.

20. Luke Bryan – $42.5 million

Luke Bryan
“I See You” and “Roller Coaster” both made No. 1 on the Country Airplay Charts during the scoring period – most songs being self-written helps his bank balance too. Bryan’s income also encompasses earnings from touring, and through endorsement agreements with outdoors merchandising brand Cabela’s, and Miller Lite.

19. Jason Aldean – $43.5 million

Musician Jason Aldean arrives at the 2014 CMT Music Awards in Nashville
The 38-year-old’s rock-heavy live shows contributed most to his bank balance this year, accumulating much more than supposedly higher-ranking stars such as Kenny Chesney and Tim McGraw, but he was also the only country singer to achieve platinum-sales status with an album in 2014. He also has an interest in Tidal, Jay Z’s new streaming service, which may prove beneficial.

18. Michael Buble – $45.5 million

Michael Buble1
The Italian-Canadian confirms that appearances are paramount, his 71 shows during his To Be Loved tour being the major contributor to his earnings for the year. Appearances on TV also contributed, including on the perennial Sesame Street, and hosting his 4th Annual Christmas Special for NBC

17. Paul McCartney – $51.5 million

Paul McCartney1
One of two knights – ‘sirs’ – on the list, the number of concert performances by Sir Paul over the year shows that age – he is now 73 years-old – is no barrier to continued success for this British music legend. Clearly enjoying collaborations with such artists as Kanye West and Rihanna – “FourFiveSeconds”, these contribute to both live and recorded exposure for the legendary original Beatle. Additionally, he has many business interests, including in Apple, a music catalogue of 25,000 songs, and others through his holding company MPL Communications.

16. Toby Keith – $53 million

Oklahoma Twister Relief Concert To Benefit United Way Of Central Oklahoma May Tornadoes Relief Fund - Show
I Love This Bar & Grill, Wild Shot Mezcal and an enduring endorsement deal with the Ford motor company confirm the importance of widespread business activity for musicians these days. The previous year’s cash king of country performed just 29 shows in the period, but still earned more than any other country musician except Garth Brooks. Of course founding his own record label also helps!

15. Elton John – $53.5 million

Elton John
The slightly higher-ranked ‘Sir’ – but slightly younger (68 years) – played 94 shows, and obviously loves performing around the world still, with ticket sales plus on-going royalties from his work as a solo artist and composer maintaining his earnings. Written theatrical productions such as “The Lion King’ also keep audiences happily contributing to his net worth.

14. Beyoncé – $54.5 million

Beyonce
The success of the previous year’s “Drunk In Love” wasn’t quite repeated, but winning three Grammy awards helped maintain the singer’s earnings at a very respectable level, boosted by the summer’s 19-show On The Run tour with husband Jay Z, which raked in over $100 million. Endorsements with companies including Pepsi and Tommy Hilfiger also contribute to her earnings and overall net worth.

13. Jay-Z – $56 million

Jay Z
Playing a total of 22 shows with wife Beyoncé helped the multi-faceted musician’s earnings considerably, but so did a wide range of other successful ventures, including Armand de Brignac champagne, and more importantly his entertainment company Roc Nation. His new streaming service, Tidal, may also yet prove a winner.

12. Ed Sheeran – $57 million

Ed Sheeran
This British singer-songwriter is one of a few artists who still earns significantly from recorded music, however, he performed in 154 shows in the period – seven times more than The Rolling Stones, below – the most of any musician on the list. His collaborations with other artists including Taylor Swift also did his image and earning capacity no harm.Launching his own record label was a little late to be included in the survey period.

11. The Rolling Stones – $57.5 million

The Rolling Stones
Their Zip Codes tour of just 22 shows contributed hugely to The Stones success this year, mainly because of the capacity of the venues. Still, that the group continues to attract such audiences after more than 50 years ‘on the road’ is a tribute their popularity, maintaining their status as a top-earning act after a half-century together thanks to their on-going appeal which apparently crosses any generation divide.

10. Lady Gaga – $59 million

Lady Gaga1
The last decade has disappeared, somewhere – that is how long the Queen Monster has been at the top of the music industry, partly due to what have been described as ‘over-the-top’ performances, plus somewhat spectacular fashion statements on stage. Gaga performed 66 shows over the period, but also continues to profit from her own Fame fragrance, and from contracts with Versace and MAC.

9. Fleetwood Mac – $59.5 million

Fleetwood Mac4
The UK-American group endures after more than 40 years together at the top, their popularity evidenced by out-scoring all other artists with ticket prices of over $300 – reputedly the highest of any music act during the survey period – during their 2015 On With The Show tour of 86 concerts, but a sell-out at all venues. Despite their supposed peak of popularity being 20 years ago, Fleetwood Mac still has audiences rocking – and are clearly still making millions.

8. Diddy (Sean Combs) – $60 million

Sean Combs
Diddy is one of the artists who doesn’t favour touring, live performances very much, but who demonstrates the value of having considerable interests in other businesses. These include a hugely lucrative deal with Diageo’s Ciroc vodka that makes up a considerable proportion of his income, TV network Revolt, water brand Aquahydrate, clothing line Sean John, and DeLeon tequila.

7. Justin Timberlake – $63.5 million

Justin Timberlake 3
Timberlake is now an actor, but as a solo singer he accumulated a significant amount from 59 tour dates, a far cry from his time with NSYNC. However, he is also one of those artists wise enough not to have all his eggs in one basket – or maybe anticipating a future beyond entertainment – and now earns considerable amounts from endorsements with Sony, Bud Light, and from his own Sauza tequila.

6. Calvin Harris – $66 million

Z100's Jingle Ball 2014 Presented By Goldfish Puffs
DJ fees of over $100,000, plus contracts with such as Giorgio Armani, have ensured the Scottish-born DJ’s position on the list. Of course, being linked with Taylor Swift also made headlines – they are now rated the highest-paid couple in the business, but Calvin still has to continue to produce the goods as part of the relationship!

5. The Eagles – $73.5 million

The Eagles3
The passing of founding member and power behind the iconic group Glenn Frey may see the end of the road for this classic rock band, but The Eagles were very much alive, and constantly touring during the survey period. They performed 57 shows on their History of the Eagles tour, which certainly helped keep them in the top five earning musicians, ahead of younger, but maybe less proficient competition.

4. Taylor Swift – $80 million

Z100 Artist Gift Lounge Presented By Pop Tarts At Z100's Jingle Ball 2012 - Gifting Lounge
Earning over $4 million per city on her 1989 Tour goes a long way to explaining Taylor’s ranking, but her single – 1989 – is still selling and heading towards four million in less than a year. She also has a chart-topper with her follow-up single “Wildest Dreams”, so clearly she doesn’t rest on her laurels. We may well see her a spot or three higher on our next list, with or without the assistance of Calvin Harris, but continuing to collaborate with the likes of Paul McCartney and Madonna should certainly help, as should endorsements with companies which have included Target, WalMart, AirAsia, Qantas and Diet Coke.

3. Garth Brooks – $90 million

Garth Brooks2
Another artist who loves touring – he came out of supposed retirement to embark on his latest – Garth’s earnings from his country music concerts have been topping well over $1 million in every city, many needing two concerts per venue such is his continued popularity and the demand for tickets. He shows no signs of another ‘retirement’ yet, so may well make another appearance on this list as well, next survey period. Ghost Tunes, his on-line music store, also helps contribute to his regular earnings.

2. One Direction – $130 million

One Direction2
Somewhat surprisingly, the boy band is the top-earning band of any sort during this survey period. Of course, they performed 74 dates during our scoring period, more than three times the number of The Stones for just over double the income. However, they are yet to embark on significant endorsement contracts, or other ventures outside the music industry, so their potential in that area is still untouched; stand-by for updates!

1. Katy Perry – $135 million

Katy Perry2
Of ‘celebrities’, only boxers Floyd Mayweather and Manny Pacquiao earned more than the “Roar” singer over the period. Katy is clearly the highest-paid musician of the past year – solo at that – pulling-in over $2 million per venue during her Prismatic World Tour. She is also reputed to draw more followers on Twitter than any other artist; apparently sex-appeal also has something to do with that, plus a series of perfume releases!

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Want To Preserve Your Net Worth? ‘Hide’ it Here! http://celebritynetworths.org/want-to-preserve-your-net-worth-hide-it-here/ http://celebritynetworths.org/want-to-preserve-your-net-worth-hide-it-here/#respond Tue, 03 Jan 2017 00:41:03 +0000 http://celebritynetworths.org/?p=179218 So you’ve spent more years than you care to remember building your nest-egg to see you through the rest of your life in some comfort. Now, how to prevent the tax man getting his hands on a sizeable portion of it? Most people will have heard of ‘tax havens’, but where are they, and what …

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So you’ve spent more years than you care to remember building your nest-egg to see you through the rest of your life in some comfort. Now, how to prevent the tax man getting his hands on a sizeable portion of it?

Most people will have heard of ‘tax havens’, but where are they, and what do they really provide you with that retaining your hard-earned wealth or investing in your home country does not? Investing through a trust or company based in a tax haven is a perfectly legal – the best tax havens offer low or no taxes even on personal income, as well as interest, capital gains and inheritance. Corporations reporting profits through headquarters, or even subsidiaries in countries with favourable taxation environments can obviously save billions. The super-wealthy also stand to save millions or even billions by taking advantage of the world’s best tax havens. So, the major benefit of a tax haven is saving on taxes.

taxation 88

Following, in no particular order, is a summary of 10 noted tax havens, and what the main attractions are which might persuade you to move all or some of liquid assets ‘off shore’. Interestingly, ‘off-shore’ is an appropriate description, as seven of the 10 are islands!

Switzerland

Morgan Stanley33

The country has long been the home for – some would say ‘notorious, or secret’ – bank accounts. Low taxes and a banking system which, until recent relaxations, protected account holders’ secrecy, have long made the Swiss cantons a magnet for overseas funds to take advantage of low taxes. This has made the country a popular centre financially for both individuals and corporations. Capital Geneva is the 13th-largest financial centre in the world, and longest established, plus its in the centre of Europe with a reputation for neutrality in more ways than one. US companies report well over $50 billion in profits going to Swiss subsidiaries, with almost a third of Fortune 500 companies having well-used offices in Switzerland, including Morgan Stanley, Marriott, Black & Decker, Ecolab and Pepsi.

Luxembourg

Luxembourg44

This small small European country – population half a million – has laws friendly to business that allow international companies to allocate a percentage of their profits there. About a third of U.S. Fortune 500 companies have establishments in Luxembourg, including Amazon HQ through which all European sales are accounted for, although recent EU investigations have seen the company diversify profits to country of origin.

Monaco

Avis Budget Group33

36,000 residents live in the two square kilometres of Monaco, where residents have paid no income tax since 1869; those rich enough to be able to claim Monaco as their place of primary residence will keep all of the money they earn, however they earn it. Of course, this has attracted many of the world’s wealthiest – one in three residents is at least a millionaire – which has made real estate prices the most expensive in the world with $1 million needed to buy just 100 square metres. Corporation tax is also low, encouraging corporations such as rental car company Avis Budget Group to establish subsidiaries in there.

Cayman Islands

Pepsi-Cayman islands

The Caribbean islands country offers what has been described as “probably the biggess tax loophole now for individuals as well as for multinational corporations.” Corporation can be formed and retain assets without paying tax, although the tax laws are somewhat complex, so a professional hand is required. However, tax benefits can be worth it, as evidenced by many businesses from around the world having assets in the Caymans, in fact estimated at equal to a 15th of the world’s total $30 trillion in banking assets, including majors such as Wells Fargo, Pfizer, Pepsi, and Marriott.

Bermuda

Bermuda-Google

The Atlantic island nation has long been recognised as a tax haven – wealthy individuals can feel protected by laws of secrecy covering assets held there, even including their identities. Big businesses also benefits from Bermuda’s low taxation, including no no corporate tax at all. Again, around 25% of Fortune 500 companies have at least offices in Bermuda, perhaps most prominently Google, which routinely routes profits to Bermuda through Ireland and the Netherlands, which saves the company a minimum of $2 billion a year in taxes, reports Bloomberg.

Bahamas

AES-Farg--Bahama

No capital gains, inheritance, personal income and gift tax make The Bahamas another popular tax haven, especially to wealthy older people hoping to limit tax on inheritance or to start gifting money. US corporations have reported over $15 billion in profits making it to The Bahamas, equal to more than 125% of the country’s own gross domestic product in one year. Energy provider AES and Wells Fargo Bank are just two of the 5% of Fortune 500 companies with subsidiaries in the country.

Isle of Man

Isle of Man

Lack of corporation, capital gains, inheritance tax and stamp duty make this destination – between England and Ireland – and also with income tax’s highest rate at 20% and total amount capped at 120,000 pounds, very attractive. Additionally, many international companies have their employee pension plans held in accounts here because of asset protection, coupled with the ability to take benefits from the age of 50. However, only employer-sponsored retirement accounts benefit from this tax code.

Jersey

Jersej 9

Jersey’s location – between England and France – status as a tax haven has been convenient since the mid-20th Century, when many British citizens moved their wealth to the island, as Britain’s inheritance tax on amounts over one million Pounds was 80%, compared to zero in the self-governed Channel Island. Even today, there is still no inheritance, capital gains tax, and standard corporate tax, except on financial services, property and utility companies. Consequently, over $200 billion in notionally UK assets are domiciled here.

Ireland

Pfizer, Allergan22

Irish officials deny that te country is a tax haven however, this was refuted somewhat when US drug company Pfizer amalgamated with Ireland-based Allergan, and re-located its headquarters to Ireland, helping Pfizer avoid taxes on an estimated $150 billion in profits held internationally.

Apple, which has accumulated over $180 billion in profits internationally, also has HQ in Ireland, thus avoiding an estimated $59.2 billion in US taxes. Over 25% of Fortune 500 companies also have branches Ireland – one doesn’t need to wonder why!

Mauritius

Mauritius8

In the middle of the Indian Ocean, Mauritius is a popular haven for ‘foreign investments’, with its relative proximity to India. Corporations with ‘interests’ there include Pepsi, JPMorgan Chase and Citigroup. A 15% corporate tax levy is in place, however companies that are tax residents cab gain tax breaks granted through double tax treaties. Additionally, interest and capital gains are not taxed, so it is a rather attractive tax haven.

 

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Business People of The Year – Successful Companies Are Run By Successful Business-People http://celebritynetworths.org/business-people-of-the-year-successful-companies-are-run-by-successful-business-people/ http://celebritynetworths.org/business-people-of-the-year-successful-companies-are-run-by-successful-business-people/#respond Tue, 03 Jan 2017 00:40:48 +0000 http://celebritynetworths.org/?p=178114 On what criteria are business people of the year selected, by any reputable financial authority? Actually there is really only one criteria, one answer – the ability to generate profits for their companies, and concurrently increase the overall value of the company as reflected in the share price; of course, the bigger the numbers, the …

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On what criteria are business people of the year selected, by any reputable financial authority? Actually there is really only one criteria, one answer – the ability to generate profits for their companies, and concurrently increase the overall value of the company as reflected in the share price; of course, the bigger the numbers, the better. In essence, the most successful companies ARE successful because they are run – in the vast majority of cases – by the most able, and therefore individually successful business-people.

So how does the company’s performance rate?

Of course this means that, unsurprisingly, the large successful companies’ personnel dominate the subject list every year – but no, they are not all American – so this following list of the top 15 business-people and their companies will therefore contain few surprises, although some names are far better known than others, usually because they reflect companies whose products are aimed directly at the consumer, without any intermediary ‘processing’. Still, just how rich are these individuals themselves; how well are they rewarded for their efforts – stock options are not included – and what is their total net worth? Read on!

Mark Parker – CEO Nike – salary $6+ million – total net worth $250 million

Mark ParkerNamed Business Person of 2015 by Fortune magazine, the company CEO who joined Nike in 1979 as a sports shoe designer has proved the adage that you can’t buy experience. He was named CEO in 2006 after the short-lived experiment of bringing in an outsider to replace co-founder Phil Knight when he retired in 2005 failed – Parker still runs, and has a hand in design. His quiet personality means that his achievements in doubling revenues and profits, to $30 billion since 2006 and raising Nike’s stock price six-fold have gone largely unnoticed, except by those that matter.

Mark Zuckerberg – Facebook – salary $16 billion – total net worth $47 billion

Mark Zuckerberg

At number two on the list, the Facebook co-founder and owner needs no introduction. He notionally draws a salary of $1 (one dollar) but his net worth increased by an estimated $16 billion in the 12 months to November 2015 thanks to the value of his 15% of Facebook shares, putting him in the top 10 richest people in the world with $47 billion. This is unsurprising as his company goes from strength-to-strength with monthly usage of 1.5 billion, plus subsidiaries WhatsApp with 900 million, Messenger 700 million, and Instagram 400 million. Facebook is estimated to have conquered 20% of mobile phone usage in the USA. Revenue growth is now at 40% and profit around 25% per year.

Andrew Wilson – CEO Electronic Arts – salary $4 million – total net worth $ 25 million

Electronic Arts2

Australian-born Andrew is another whose company-specific experience has regenerated Electronic Arts since his appointment in 2013 – he joined the company in 2000. After years of heavy losses, the company producing console games made earnings of $875 million in digital sales in the last year, and is expected to continue this trend with its release of its new Star Wars Battlefront game in early 2016.

Tim Cook – CEO Apple – salary $8.5 million – total net worth $785 million

Apple Unveils iPhone 6

Although ranked fourth, Cook has presided over profits totalling $53 billion in the last year – this included a 31% increase in the last quarter alone. New iPhones, the totally new Apple Watch and a change in focus means that the successor to founder Steve Jobs has made his own mark on the company in a remarkable way. Services including Apple Music and Apple Pay have also proven successful, as has marketing in China, obviously a huge market to still be exploited when possible.

Ajaypal Singh Banga – CEO MasterCard – salary $6 million – total net worth $1.2 billion

Ajay Banga, chief executive officer of MasterCard Inc., gestures as he speaks during a news conference at the Mobile World Congress in Barcelona, Spain, on Tuesday, March 3, 2015. The event, which generates several hundred million euros in revenue for the city of Barcelona each year, also means the world for a week turns its attention back to Europe for the latest in technology, despite a lagging ecosystem. Photographer: Pau Barrena/Bloomberg *** Local Caption *** Ajay Banga

Indian-born and educated, since being appointed CEO in 2010, Ajay has overseen MasterCard double its revenue and profits in five years. The company has made several acquisitions and maintained its technological edge over competitors, including signing Citi cards to MasterCard for a period of 10 years, plus a 20-year contract with Itaú Unibanco in Brazil. These dealings have seen MasterCard shares rise 40% in the last two years, and revenue coming in at close to $10 billion, resulting in Ajay Banga being listed at number five.

Mary N. Dillon – CEO Ulta Beauty – salary $4 million – total net worth $70 million

Mary Dillon 3The only woman in the top 15, at number six is Mary Dillon, whose company Ulta Beauty is a highlight in what is known as the glamour business, particularly since her appointment in 2013. The strategy is to aim different products at differing levels of outlets, while resisting takeover bids from major chain stores and supermarkets, which has seen an increase in sales of over 10% in just the last six months. The plan now is to increase e-commerce sales, plus reach hundreds of more stores. The stock has risen by a remarkable 42% in the last year, which is around 10 times better than the S&P 500.

Lei Jun – CEO Xiaomi – salary $9 million – total net worth $13.5 billion

Lei Jun

Until recently, at $46 billion start-up the Chinese smartphone company Xiaomi was the most highly rated in the world, but it plans to emulate Apple and diversify its offerings into products such as hi-fi headphones, GoPro-like cameras, air purifiers and other devices as well as scooters, investing in appropriate companies to achieve this goal. So Lei Jun believes that the confidence placed in Xiaomi is well justified. Although Xiaomi is making money selling phones, Lei Jun is keen to do a lot more, and in the process improve his ranking from number seven.

Travis Kalanick – CEO Uber – salary $6 million – total net worth $6 billion

Uber 2

Kalanick has been described as ‘…a blazing – albeit controversial – sun in the business universe…’ by virtue of the way Uber is shaking-up the taxi/car-hailing industry around the world. Despite antipathy to the company’s modus operandi in several of the 65 countries in which it currently operates, Uber’s value is now estimated at over $70 billion, on which Kalanick’s net worth is based. The value is yet to be reflected in revenues and profit, but investors clearly believe that the future is indeed bright, especially under the dynamic leadership of Travis Kalanick, number eight on this year’s list.

Steve Ells & Montgomery Moran – CEOs Chipotle – salary $5.5/4.5 million – total net worth $200/120 million

Chipotle2

Ells has been with Chipotle for almost 20 years, and Moran for over 10 years – further value in experience? The co-CEOs philosophy is that fast food does not equal junk food, such that Chipotle has influenced what is called ‘quick-serve’ very positively. This includes restaurants, and has forced supposed fast-food leaders like McDonald’s to rethink their practices. GMO ingredients have been rejected, as has avoiding suppliers accused of violating animal-welfare standards, which has clearly considerably enhanced the company’s profile, as its revenues and profits continue to increase. Steve and Monty are now concentrating on delivery and mobile ordering, and on expanding subordinates ShopHouse and Pizzeria Locale chains. Who is to say that they wont be higher than ninth next year?

George Scangos – CEO Biogen – salary $6.5 million – total net worth $100 million

Biogen's revenue2

In five years, Scangos has managed to double Biogen’s revenue, and triple its profits, from an already impressive base. Conversely, this has been partly achieved by continuing investment in research and development (up more than 50% in four years), but to significant effect, including highly profitable ends. However, stock-holders’ expectations of ever-increasing profits means that product lines have been constrained somewhat, and the size of the company’s workforce trimmed. Profits of almost 20% are still forecast. Scangos well deserves his ranking in the top 10.

Larry Page – CEO Alphabet – salary $10 billion – total net worth $30 billion

Larry Page – CEO Alphabet

Maintaining the position of Business Person of the Year – as he was in 2014 – was probably impossible given what you have read above. However, Larry Page is still doing well for Alphabet/Google in continuing to re-organise what is now a virtual conglomerate, while maintaining revenue growth of 20% and profits of 25 %. His personal net worth is also an indicator of his success, as his wealth has increased by almost 30% in the past year largely through his remuneration ‘package’, as he is also one who draws a notional salary of $1, with trusts etc gratefully accepting the rest!

Howard Schultz – CEO Starbucks – salary $4.5 million – total net worth $3 billion

Howard Schultz

Schultz has managed to increase clientele including opening new shops in new locations, such that the company has continued to increase growth, measured at over 5% in each of 25 consecutive quarters. Revenue is also now at an all-time high, with income over $100 billion. These results have been accomplished by utilising technological advances, including ordering by ‘phone and delivering through Juniper Networks and Adobe Systems. Schultz has been associated with Starbucks since 1982, and yet again proves the value of experience in the specific industry to ensure continued success.

Robert Iger – CEO Disney – salary $12 million – total net worth $ 100 million

Lucasfilm2

Iger’s net worth may be questionable, since his remuneration package averages over $30 million, however, considering he was astute enough to acquire Lucasfilm, which includes the ‘Star Wars’ franchise, the profits accruing to Disney may well justify his continued growth in wealth. Bob Iger joined Disney in 1996, when his company ABC/Capital Cities was subsumed, and became President in 2000, subsequently also buying Pixar, the animated movie producer. Disney’s profits continue to rise in what has become a very competitive market.

Morris Chang – Chairman, Taiwan Semi-conductor – salary $100 million – total net worth $13 billion

produce A9 chips2

Chang’s company’s contract with Apple to produce A9 chips should ensure its continued success in the IT world, ensuring the company he founded in 1987 keeps itself near the head of the industry, Chang has consistently invested in R & D over the years, meaning that income margins (35%) and revenue and profit growth amounting to over 60% in the last five years have been intelligently maintained in an increasingly competitive market. Having Qualcomm, Nvidia, Broadcom, AMD among other significant companies as customers is certainly of considerable benefit.

Bernard Arnault – CEO LVMH – salary $9 mllion – total net worth $ 38 billion

Bernard Arnault Join

LVMH has consolidated with profits reaching almost $7 billion – a rise of 50% – in the last three years, on revenue of almost $40 billion, largely thanks to Bernard Arnault’s astute management of the luxury goods producer. Diversification of products – particularly with Louis Vuiton – targetting differing markets around the world has enabled LVMH to retain it’s premiere position. Arnault has been at the head of LVMH since 1989, and both the company’s and his own net worth have risen steadily over the years, to the point where he is arguably the richest person in France, and LVMH certainly one of the most respected companies.

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