Richard Branson, Sara Blakely and other billionaire entrepreneurs share one ‘underrated quality’

It’s a quality that goes a long way: “The return on the investment in kindness is enormous. If you run a kind company and you’re a kind entrepreneur and you’re collaborative, you will retain your employees. Successful entrepreneurs share “an incredibly underrated quality,” Raz tells CNBC Make It : They’re nice. “Early on in my career, I was like bam, bam, bam, bam, bam — I might curse. It’s no coincidence that the successful CEOs and business owners that Raz has talked to actively practice kindn


It’s a quality that goes a long way: “The return on the investment in kindness is enormous.
If you run a kind company and you’re a kind entrepreneur and you’re collaborative, you will retain your employees.
Successful entrepreneurs share “an incredibly underrated quality,” Raz tells CNBC Make It : They’re nice.
“Early on in my career, I was like bam, bam, bam, bam, bam — I might curse.
It’s no coincidence that the successful CEOs and business owners that Raz has talked to actively practice kindn
Richard Branson, Sara Blakely and other billionaire entrepreneurs share one ‘underrated quality’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: kathleen elkins
Keywords: news, cnbc, companies, kind, share, work, company, underrated, business, raz, cuban, successful, richard, sara, career, billionaire, entrepreneurs, bam, branson, blakely, quality


Richard Branson, Sara Blakely and other billionaire entrepreneurs share one 'underrated quality'

It’s a quality that goes a long way: “The return on the investment in kindness is enormous. If you run a kind company and you’re a kind entrepreneur and you’re collaborative, you will retain your employees. You will find that people will work so hard to innovate for you and your ideas.”

“Virtually all the people we’ve had on the show are kind,” he says. “They are respectful and they value and show appreciation for the people who work around them.”

The key to their success isn’t just work ethic and resiliency, Raz found. Successful entrepreneurs share “an incredibly underrated quality,” Raz tells CNBC Make It : They’re nice.

Guy Raz has interviewed some of the most influential business leaders of today: Over the past three years, the host of NPR’s “How I Built This” podcast has sat down with Spanx founder Sara Blakely, serial entrepreneur Richard Branson and Zappos CEO Tony Hsieh, among others.

Billionaire Mark Cuban, who owns the Dallas Mavericks and is a judge on ABC’s “Shark Tank,” agrees. “One of the most underrated skills in business right now is being nice. Nice sells,” he told Vanity Fair in a 2018 interview.

It’s a lesson the 61-year-old has learned over his lengthy career. “I wouldn’t have wanted to do business with me when I was in my 20s,” admitted Cuban, who started his first company, MicroSolutions, after being fired from a computer software company in his 20s. “Early on in my career, I was like bam, bam, bam, bam, bam — I might curse. I might get mad. I had to change, and I did, and it really paid off.”

Similarly, studies show that emotional intelligence, or EQ, can make you wealthy and successful. People with high levels of EQ tend to be self-aware, socially aware, empathetic and open to feedback.

Ultimately, it’s your ability to cooperate with others that will make you valuable in the work force, global career development expert Soulaima Gourani tells CNBC Make It: “A lot of jobs are going to disappear, but the thing that we will always have that is more important is your emotional intelligence.” She defines that as having a “good understanding of yourself, self-control, empathy and a natural understanding of people’s decisions, needs and desires.”

Those skills can go a long way. “If you can handle people’s diversity — people of a different age, different personalities, or educational backgrounds, for example — and you can handle the conflict that comes with that, you will be the highest-paid, most valuable employee in the company,” she adds.

It’s no coincidence that the successful CEOs and business owners that Raz has talked to actively practice kindness. It’s “one of their secret weapons,” he says. “They really do think about how to be kind.”

Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank.”

Don’t miss: Billionaire Mark Cuban: This is the No. 1 most common business mistake

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Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: kathleen elkins
Keywords: news, cnbc, companies, kind, share, work, company, underrated, business, raz, cuban, successful, richard, sara, career, billionaire, entrepreneurs, bam, branson, blakely, quality


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How billionaire Bill Gates says he keeps his ego in check

But Gates says he mostly keeps his ego in check. “If I come back and I look like I’m all puffed up, they cut me down to size a little bit,” Gates said. For instance, Gates prefers to communicate via email, but that bugs his daughters. “I’ve got to check Instagram because my youngest daughter likes to communicate there [and] I have to check WhatsApp because another child likes to communicate through that,” he said at the DealBook event. Don’t miss: Why Bill Gates says his 20-year-old self would b


But Gates says he mostly keeps his ego in check.
“If I come back and I look like I’m all puffed up, they cut me down to size a little bit,” Gates said.
For instance, Gates prefers to communicate via email, but that bugs his daughters.
“I’ve got to check Instagram because my youngest daughter likes to communicate there [and] I have to check WhatsApp because another child likes to communicate through that,” he said at the DealBook event.
Don’t miss: Why Bill Gates says his 20-year-old self would b
How billionaire Bill Gates says he keeps his ego in check Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: jade scipioni
Keywords: news, cnbc, companies, bill, times, microsoft, check, communicate, world, little, kids, keeps, ego, likes, billionaire, gates, billion


How billionaire Bill Gates says he keeps his ego in check

A lot could go to Bill Gates’ head given that he’s the second richest person alive with a fortune of more than $109 billion, as well as one of the most recognized and accomplished entrepreneurs in the world. (He, after all, co-founded Microsoft — which now has a market cap of more than $1 trillion — at the age of 19 after dropping out of Harvard.)

But Gates says he mostly keeps his ego in check. One of the big ways he does so is by avoiding the public as much as possible.

“Part of it is that you limit the amount of time you go out into the world, because it’s a little bit distortive,” Gates said Wednesday at The New York Times DealBook event.

In particular, he avoids bars, because “people are even more aggressive about coming up and talking” there, he said.

Still, Gates, 64, whose net worth is just a couple billion shy of Amazon CEO Jeff Bezos’ fortune of $111 billion, said if he does get a big head at times, that’s quickly corrected by either his wife, Melinda, or his best friend, billionaire investor Warren Buffett.

“If I come back and I look like I’m all puffed up, they cut me down to size a little bit,” Gates said.

Gates said he also stays humble by doing normal activities, like washing the dishes after dinner each night and driving his kids to school in the morning.

Gates said his kids also keep him cool and up-to-date.

“I have kids that think I don’t see the world in a modern enough way, including even some technology things they use that they find amazing,” said Gates, who has two daughters, Phoebe, 17, and Jennifer, 23, and a son, Rory, 20.

For instance, Gates prefers to communicate via email, but that bugs his daughters.

“I’ve got to check Instagram because my youngest daughter likes to communicate there [and] I have to check WhatsApp because another child likes to communicate through that,” he said at the DealBook event.

If he doesn’t comply with his kids’ requests, he says, they accuse him of “not paying attention” to their lives.

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Don’t miss: Why Bill Gates says his 20-year-old self would be ‘so disgusted’ with him today

Bill Gates reveals his ‘greatest mistake’ that potentially cost Microsoft $400 billion


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: jade scipioni
Keywords: news, cnbc, companies, bill, times, microsoft, check, communicate, world, little, kids, keeps, ego, likes, billionaire, gates, billion


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Mark Cuban is latest billionaire to bash Sen. Elizabeth Warren’s wealth tax plan

Billionaire investor Mark Cuban suggested in a series of weekend tweets that the proposed wealth tax from 2020 presidential candidate Sen. Elizabeth Warren, D-Mass., “diverts attention from reality” and is designed to hide her own wealth from the public. Cuban, who owns the Dallas Mavericks of the NBA, highlighted Warren’s income and net worth, which at $12 million puts her squarely among the top 1% in America. Warren’s net worth is actually in fourth place in the Democratic field, behind billio


Billionaire investor Mark Cuban suggested in a series of weekend tweets that the proposed wealth tax from 2020 presidential candidate Sen. Elizabeth Warren, D-Mass., “diverts attention from reality” and is designed to hide her own wealth from the public.
Cuban, who owns the Dallas Mavericks of the NBA, highlighted Warren’s income and net worth, which at $12 million puts her squarely among the top 1% in America.
Warren’s net worth is actually in fourth place in the Democratic field, behind billio
Mark Cuban is latest billionaire to bash Sen. Elizabeth Warren’s wealth tax plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: jordan mcdonald
Keywords: news, cnbc, companies, sen, million, 2020, worth, tax, warrens, elizabeth, wealth, plan, net, democratic, mark, policy, latest, billionaire, warren, cuban


Mark Cuban is latest billionaire to bash Sen. Elizabeth Warren's wealth tax plan

Billionaire investor Mark Cuban suggested in a series of weekend tweets that the proposed wealth tax from 2020 presidential candidate Sen. Elizabeth Warren, D-Mass., “diverts attention from reality” and is designed to hide her own wealth from the public.

Warren’s wealth tax, exemplified by the “two cents” chant that dominates her rallies, calls for a 2% tax on every dollar a household has above $50 million, which would increase to a 6% tax for households with a net worth of more than $1 billion. That money would be used to pay for a variety of her policy proposals, including her “Medicare for All” plan.

Cuban, who owns the Dallas Mavericks of the NBA, highlighted Warren’s income and net worth, which at $12 million puts her squarely among the top 1% in America.

Warren’s net worth is actually in fourth place in the Democratic field, behind billionaire Tom Steyer, former Maryland Rep. John Delaney and Colorado Sen. Michael Bennet.

While Cuban declared Warren the smartest of the 2020 candidates, he also suggested that Warren is “intellectually misleading the public” on the prospects of funding her Medicare for All policy, which Warren says would cost $20.5 trillion over 10 years but some policy experts have pegged at $32 trillion over the same time frame.

Warren’s campaign did not immediately respond to a request for comment.

Almost every Democratic challenger in the 2020 presidential race is a millionaire, with only Julian Castro, Tulsi Gabbard, and Pete Buttigieg with net worths below $1 million. Excluding Steyer and President Donald Trump’s net worth, Warren’s net worth is just below the average of $12.9 million, according to Forbes.

Cuban is just one of America’s wealthiest citizens finding fault with Warren’s platform of taxing the rich.

Billionaire investor Leon Cooperman, who in recent weeks has sparred with Warren over her tax policies, said on CNBC that her platform was “idiocy.”

“I don’t need Elizabeth Warren telling me that I’m a deadbeat and that billionaires are deadbeats. The vilification of billionaires makes no sense to me,” Cooperman told CNBC.

Warren’s wealth tax is also raising monumental concern for Democratic donors, who have threatened to back Trump if the Democratic Party were to nominate her for the general election.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: jordan mcdonald
Keywords: news, cnbc, companies, sen, million, 2020, worth, tax, warrens, elizabeth, wealth, plan, net, democratic, mark, policy, latest, billionaire, warren, cuban


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These are the NFL’s 10 richest billionaire owners

Indeed, it takes a healthy net worth to purchase an NFL team (though, some owners were lucky enough to inherit their teams). As recently as May 2018, hedge fund billionaire David Tepper became the latest person to buy an NFL team when he shelled out a record $2.2 billion to purchase the Carolina Panthers. Allen died at 65 from complications of non-Hodgkin’s lymphoma in October 2018, leaving behind a fortune worth more than $20 billion. Here are the 10 wealthiest NFL owners, based on Forbes’ esti


Indeed, it takes a healthy net worth to purchase an NFL team (though, some owners were lucky enough to inherit their teams).
As recently as May 2018, hedge fund billionaire David Tepper became the latest person to buy an NFL team when he shelled out a record $2.2 billion to purchase the Carolina Panthers.
Allen died at 65 from complications of non-Hodgkin’s lymphoma in October 2018, leaving behind a fortune worth more than $20 billion.
Here are the 10 wealthiest NFL owners, based on Forbes’ esti
These are the NFL’s 10 richest billionaire owners Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-10  Authors: tom huddleston jr
Keywords: news, cnbc, companies, nfls, team, getty, nfl, owners, worth, company, owner, bought, richest, tepper, billionaire, business, billion


These are the NFL's 10 richest billionaire owners

There’s no doubt that professional football is big business, as evidenced by the fact that the NFL pulled in roughly $16 billion in revenue over the 2018-2019 season. That number represented about a 5% bump from the previous season, and the league’s revenue is only expected to keep climbing as the NFL has its sights set on reaching the $25 billion mark by 2027. With those massive numbers in mind, it’s no surprise that the owners of the 32 NFL franchises count many billionaires among them, as the average value of an NFL team increased 11% to $2.86 billion this year, according to Forbes’ latest estimate. Indeed, it takes a healthy net worth to purchase an NFL team (though, some owners were lucky enough to inherit their teams). As recently as May 2018, hedge fund billionaire David Tepper became the latest person to buy an NFL team when he shelled out a record $2.2 billion to purchase the Carolina Panthers. Less than a year later, Tepper also became the wealthiest NFL owner with the passing of former Seattle Seahawks owner and Microsoft co-founder Paul Allen (the Seahawks are now owned by Allen’s trust and run by his sister, Jody Allen). Allen died at 65 from complications of non-Hodgkin’s lymphoma in October 2018, leaving behind a fortune worth more than $20 billion.

Allen’s death left Tepper as both the newest and the wealthiest NFL owner, as the hedge fund manager boasts an estimated net worth of $12 billion, according to Forbes. Here are the 10 wealthiest NFL owners, based on Forbes’ estimates of their net worth.

David Tepper, founder and president of Appaloosa Management. Cameron Costa | CNBC

1. David Tepper, 62, Carolina Panthers

Net worth: $12 billion Tepper founded his hedge fund, Appaloosa Management, in 1993 after he was passed over for a promotion at Goldman Sachs and quit the banking giant. Tepper grew Appaloosa into a global hedge fund giant that managed roughly $14 billion in assets before he began to wind down the investment business in May 2019 to focus on running the Panthers franchise he bought a year earlier.

Stan Kroenke David Price | Arsenal FC | Getty Images)

2. Stan Kroenke, 72, Los Angeles Rams et al.

Net worth: $9.7 billion The NFL’s second-wealthiest owner is the man who brought professional football back to Los Angeles for the first time since 1995 (he moved the Rams there from St. Louis before the 2016 season). Kroenke made his billions as a real estate developer who also happens to be married to Wal-Mart heiress Ann Walton. In addition to the Rams, Kroenke owns a vast portfolio of sports teams that also includes the English Premier League team Arsenal, the NBA’s Denver Nuggets and the NHL’s Colorado Avalanche.

Dallas Cowboys owner Jerry Jones signs autographs prior to the NFL regular season game game between the Dallas Cowboys and the New York Jets at AT&T Stadium in Arlington, Texas. Matthew Visinsky | Icon Sportswire | Getty Images

3. (Tied) Jerry Jones, 77, Dallas Cowboys

Net worth: $8.5 billion Jones bought the Cowboys in 1989 for roughly $140 million and he’s overseen a successful, three-decade run that has included three Super Bowl wins while increasing the team’s value to $5.5 billion, which is by far the highest valuation of any NFL team, according to Forbes. Now a billionaire, Jones originally inherited millions of dollars from his father’s insurance firm and used that money to start his own successful oil and gas exploration company, which served as the source of the money he used to buy the Cowboys. In 2018, Jones’ oil and gas company, Comstock Resources, acquired rival Covey Park Energy in a $2.2 billion deal.

In this Thursday, Dec. 15, 2011, photo, new Jacksonville Jaguars owner Shahid Khan looks up toward the stands while walking the sidelines before the start of an NFL football game between the Jaguars and Atlanta Falcons in Atlanta. (AP Photo/David Goldman) David Goldman

3. (Tied) Shahid Khan, 69, Jacksonville Jaguars

Net worth: $8.5 billion Khan bought the Jaguars for about $760 million in 2011 to become the league’s first ethnic minority owner. Born in Pakistan, Khan moved to the U.S. as a teenager to attend college at the University of Illinois at Urbana-Champaign, where he worked as a dishwasher making $1.20 an hour to help cover his tuition costs. While still in school, he later landed a job at the auto parts manufacturer Flex-N-Gate as an engineer. Khan left the company to start his own business, Bumper Works, in 1978 and went on to make a fortune making lightweight car bumpers. In 1980, Khan bought Flex-N-Gate and combined it with Bumper Works, and the company now reportedly sees roughly $7.5 billion in annual revenue, as of October 2018.

Stephen Ross Dan Mescon | CNBC

5. Stephen Ross, 79, Miami Dolphins

Net worth: $7.6 billion Ross is a former tax attorney who founded his private real estate business in the 1970s with a $10,000 loan from his mother. Today, that business — Related Companies — owns a portfolio of assets valued at more than $60 billion that includes huge developments like Time Warner Center and Hudson Yards in New York City, along with stakes in companies like luxury fitness brands Equinox and SoulCycle (which faced some recent backlash as a result of Ross’s fundraising on behalf of President Donald Trump).

Owner of the New England Patriots Robert Kraft walks on the field prior to the game against the New Orleans Saints at the Mercedes-Benz Superdome on September 17, 2017 in New Orleans, Louisiana. Chris Graythen | Getty Images Sport | Getty Images

6. Robert Kraft, 78, New England Patriots

Net worth: $6.9 billion Kraft started his career working for his father-in-law’s packaging company before branching out to found his own paper products business, called International Forest Products. He later bought out his father-in-law and combined the two companies, building one of the world’s largest suppliers of paper products and packaging materials. He bought the Patriots in 1994 for about $175 million and the franchise is currently valued at $4.1 billion after winning six championships in the past two decades.

Atlanta Falcons owner Arthur Blank Todd Kirkland | Icon Sportswire | Corbis | Getty Images

7. Arthur Blank, 77, Atlanta Falcons

Net worth: $5.5 billion In 1978, Blank co-founded The Home Depot with partner Bernie Marcus after they’d both been fired from executive jobs at a hardware store chain that later went out of business. Blank spent nearly two decades as president of The Home Depot before taking over for Marcus as CEO for four years, and then retiring in 2001. He bought the Falcons for $545 million in 2002, and the franchise is now valued at more than $2.75 billion, according to Forbes.

Buffalo Bills owner Terry Pegula. Brett Carlsen | Getty Images

8. Terry Pegula, 68, Buffalo Bills

Net worth: $4.9 billion Pegula made his fortune in the natural gas business, building a multi-billion dollar empire through the controversial practice of “fracking.” His company, East Resources, sold most of its assets to Royal Dutch Shell for $4.7 billion in 2010. Pegula used some of those assets to build a portfolio of sports properties, including the NHL’s Buffalo Sabres and the Bills. He and wife Kim bought the NFL team in 2014 for $1.4 billion after winning a competitive bidding process that also included musician Jon Bon Jovi and future President Donald Trump.

Baltimore Ravens owner Steve Bisciotti. Scott Taetsch | Getty Images

9. Stephen Bisciotti, 59, Baltimore Ravens

Net worth: $4.5 billion When he was just 23, Bisciotti founded a staffing company with his cousin out of a basement office in Annapolis, Maryland. That company eventually became Allegis Group, which is now the largest private staffing firm in the country, with annual revenue topping $12 billion as of 2018. He paid a total of about $600 million to buy the Ravens, starting out as a minority owner in 2000 before acquiring the full ownership stake four years later. The franchise is valued at $2.75 billion today.

Houston Texans’ Janice McNair. Jordon Kelly | Icon Sportswire via Getty Images

10. Janice McNair, 83, Houston Texans


Company: cnbc, Activity: cnbc, Date: 2019-11-10  Authors: tom huddleston jr
Keywords: news, cnbc, companies, nfls, team, getty, nfl, owners, worth, company, owner, bought, richest, tepper, billionaire, business, billion


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How America’s capitalist system is ‘broken,’ according to billionaire financier Ray Dalio

So says Ray Dalio, the billionaire financier and founder of Bridgewater Associates, the largest hedge fund in the world with $160 billion in assets. “This set of circumstances is unsustainable and certainly can no longer be pushed as it has been pushed since 2008. That is why I believe that the world is approaching a big paradigm shift,” Dalio wrote in a LinkedIn post published Tuesday. In his recent LinkedIn post, Dalio zeroed in on the way money is flowing through the economy. That in turn lea


So says Ray Dalio, the billionaire financier and founder of Bridgewater Associates, the largest hedge fund in the world with $160 billion in assets.
“This set of circumstances is unsustainable and certainly can no longer be pushed as it has been pushed since 2008.
That is why I believe that the world is approaching a big paradigm shift,” Dalio wrote in a LinkedIn post published Tuesday.
In his recent LinkedIn post, Dalio zeroed in on the way money is flowing through the economy.
That in turn lea
How America’s capitalist system is ‘broken,’ according to billionaire financier Ray Dalio Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: catherine clifford
Keywords: news, cnbc, companies, linkedin, way, financier, system, dalio, capitalist, money, paid, americas, ray, according, post, broken, taxes, low, world, returns, billionaire


How America's capitalist system is 'broken,' according to billionaire financier Ray Dalio

“The world has gone mad and the system is broken.”

So says Ray Dalio, the billionaire financier and founder of Bridgewater Associates, the largest hedge fund in the world with $160 billion in assets.

There are several problems, including an overzealous lending market, a growing mountain of government debt and a widening divide between the rich and poor that’s becoming more tense, he says.

“This set of circumstances is unsustainable and certainly can no longer be pushed as it has been pushed since 2008. That is why I believe that the world is approaching a big paradigm shift,” Dalio wrote in a LinkedIn post published Tuesday.

Dalio, 70 and worth almost $19 billion, does not elucidate what that paradigm shift will be in his post, but he has been outspoken in his criticism of the very capitalist system that made him successful. In an interview with CBS’ “60 Minutes” in July, Dalio said the U.S. economy must change or there will be a “conflict” between the rich and the poor. And in January, he said “capitalism basically is not working for the majority of people.”

In his recent LinkedIn post, Dalio zeroed in on the way money is flowing through the economy.

First, says Dalio, we are in a situation known as “pushing on a string.” That is a scenario where central banks (like the Federal Reserve in the United States) are struggling to get their monetary policies to actually stimulate increased spending, according to Dalio’s book, “Principles for Navigating Big Debt Crises,” which he references in the LinkedIn post. That in turn leads to “low growth and low returns on assets,” he says in the book and echoes in the post. “[T]he prices of financial assets have gone way up and the future expected returns have gone way down, while economic growth and inflation remain sluggish,” Dalio writes on LinkedIn. “Those big price rises and the resulting low expected returns are not just true for bonds; they are equally true for equities, private equity, and venture capital….”

In the venture capital and start-up space, this means “more companies than at any time since the dot-com bubble don’t have to make profits or even have clear paths to making profits to sell their stock because they can instead sell their dreams to those investors who are flush with money and borrowing power,” Dalio says.

At the same time, the U.S. government is out of money — and still spending, as deficits continue to grow. Governments need to fund obligations like pensions and healthcare, Dalio points out.

“Since there isn’t enough money … there will likely be an ugly battle to determine how much of the gap will be bridged by 1) cutting benefits, 2) raising taxes, and 3) printing money…” Dalio writes.

“They are promises that have to be paid — they will either be paid by higher taxes or they’ll be not paid and defaulted on,” Dalio told CNBC at the Greenwich Economic Forum on Tuesday. “I don’t think they will be defaulted on. I think by and large, they’re going to be paid, but if they raise taxes too much, then it changes the nature of that economics.”


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: catherine clifford
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There are now 2,101 billionaires globally – up almost 40% from five years ago

There are now some 2,101 billionaires globally — 589 individuals (or 38.9%) more than five years ago, according to UBS’s 2019 Billionaire Insights report. Over that same five-year period, their combined wealth grew by more than a third (34.5%) to reach a total of $8.5 trillion. As of year-end, the region was home to some 749 billionaires with a combined wealth of $3.6 trillion. With 754 billionaires, whose combined wealth totaled $2.5 trillion, the region represents 36% of the global billionaire


There are now some 2,101 billionaires globally — 589 individuals (or 38.9%) more than five years ago, according to UBS’s 2019 Billionaire Insights report.
Over that same five-year period, their combined wealth grew by more than a third (34.5%) to reach a total of $8.5 trillion.
As of year-end, the region was home to some 749 billionaires with a combined wealth of $3.6 trillion.
With 754 billionaires, whose combined wealth totaled $2.5 trillion, the region represents 36% of the global billionaire
There are now 2,101 billionaires globally – up almost 40% from five years ago Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: karen gilchrist
Keywords: news, cnbc, companies, globally, growth, 2101, billionaire, asia, billionaires, women, combined, ago, wealth, number, trillion, region


There are now 2,101 billionaires globally – up almost 40% from five years ago

The world’s billionaire population continues to swell, despite the uber wealthy taking a hit to their bank balances last year, a new study has found.

There are now some 2,101 billionaires globally — 589 individuals (or 38.9%) more than five years ago, according to UBS’s 2019 Billionaire Insights report.

Over that same five-year period, their combined wealth grew by more than a third (34.5%) to reach a total of $8.5 trillion. The report covers the years 2013 to 2018.

Total billionaire wealth fell for the first time in five years during 2018 on the back of “a strong U.S. dollar, trade friction, fears of lower economic growth, and financial market volatility,” the Swiss bank found. Even still, billionaire wealth remained up $2.2 trillion from 2013.

American billionaires were the only ones who did not suffer a dip in 2018, with their wealth nudging up 0.1%. As of year-end, the region was home to some 749 billionaires with a combined wealth of $3.6 trillion.

The Asia Pacific region, however, remained home to the world’s greatest number of billionaires. With 754 billionaires, whose combined wealth totaled $2.5 trillion, the region represents 36% of the global billionaire population.

Within that, China accounts for 43% of the region’s billionaires. India makes up 14%, Hong Kong 9% and Japan just 4%.

In Europe, the Middle East and Africa’s billionaire population fell 5% last year to 598 individuals, whose combined wealth totaled $2.4 trillion.

The report also highlighted a notable uptick in the number of women joining the ranks. There are now 233 female billionaires globally, up 46% from the 160 recorded in 2013 and outpacing the 39% rate of growth displayed by their male counterparts over that period.

That growth was led largely by women in Asia and women entrepreneurs.

“While Asia continues to be seen as having more traditionally male-dominated cultures, it is heartening to see that the number of female billionaire has grown to more than double over the last five years,” Julia Leong, partner and private banking lead, noted in the report.

Don’t miss: There are more billionaires in NYC alone than there are in all of the UK or France

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Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: karen gilchrist
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Billionaire investor Ray Dalio says he’s ‘impressed’ by Indian prime minister Modi

Billionaire hedge fund manager Ray Dalio said in a tweet that Indian Prime Minister Narendra Modi is “one of the best, if not the best, leaders in the world” — then clarified his position in a series of follow-up tweets. Modi delivered a keynote address at the event in Saudi Arabia where he talked about empowering “the poorest of the poor.” Dalio and Modi then spoke on a range of topics that included meditation, the state of the world and global conflicts. In May, Modi and his Bharatiya Janata P


Billionaire hedge fund manager Ray Dalio said in a tweet that Indian Prime Minister Narendra Modi is “one of the best, if not the best, leaders in the world” — then clarified his position in a series of follow-up tweets.
Modi delivered a keynote address at the event in Saudi Arabia where he talked about empowering “the poorest of the poor.”
Dalio and Modi then spoke on a range of topics that included meditation, the state of the world and global conflicts.
In May, Modi and his Bharatiya Janata P
Billionaire investor Ray Dalio says he’s ‘impressed’ by Indian prime minister Modi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, prime, tweets, sector, impressed, struggling, billionaire, saudi, leaders, indian, world, hes, minister, investor, dalio, modi, ray, series


Billionaire investor Ray Dalio says he's 'impressed' by Indian prime minister Modi

Ray Dalio, billionaire and founder of Bridgewater Associates LP, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, D.C., U.S., on Friday, Oct. 18, 2019.

Billionaire hedge fund manager Ray Dalio said in a tweet that Indian Prime Minister Narendra Modi is “one of the best, if not the best, leaders in the world” — then clarified his position in a series of follow-up tweets.

His tweets came on the same day that ratings agency Moody’s downgraded India’s rating outlook from ‘stable’ to ‘negative.’ To be clear, his original tweet appeared before Moody’s announced its ratings change.

Earlier Thursday, Dalio posted a video on his Twitter account where he shared the stage with Modi at the Future Investment Initiative in Riyadh, Saudi Arabia last month.

Modi delivered a keynote address at the event in Saudi Arabia where he talked about empowering “the poorest of the poor.” Dalio and Modi then spoke on a range of topics that included meditation, the state of the world and global conflicts.

Dalio clarified his original tweet in a series of tweets later in the day.

“I am getting a lot of questions about this post, mostly about geopolitics. I want to make clear that I’m not commenting on his geopolitical policies as I’m not knowledgeable enough to comment on them,” the founder of Bridgewater Associates said.

Modi’s government has been criticized for revoking Jammu and Kashmir’s special status earlier this year and its heavy-handed approach in the Kashmir valley to prevent any backlash.

Dalio explained he is “impressed” by Modi’s ability to bring together Indians by “helping the full range of people, from those who are in abject poverty to rich business leaders.” He said Modi is doing so by “providing both basics and cutting edge digital technologies,” and pointed to the Indian leader’s Swachh Bharat campaign that built more than 100 million toilets around the country.

In May, Modi and his Bharatiya Janata Party won a landslide victory at the Indian parliamentary election.

“I think he has a good chance of creating revolutionarily better outcomes with the broad support of the population,” Dalio said.

Still, India’s economic problems are mounting. Growth hit a six-year low in the April-to-June quarter, during which the economy grew 5% from a year ago. Its finance sector is in crisis mode, which has hamstrung lending, while the manufacturing sector is struggling, economists said.

Recent policy reforms have left small-and-medium businesses reeling. In addition, the Indian economy is also struggling to create enough jobs for its workforce.

Modi’s government is said to be in a precarious position where it needs to keep its fiscal deficit under control in order to retain investor confidence while also initiating policy moves to stimulate the economy.

All of those issues appear against a backdrop where global growth is also slowing down.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, prime, tweets, sector, impressed, struggling, billionaire, saudi, leaders, indian, world, hes, minister, investor, dalio, modi, ray, series


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Leon Cooperman, who has been battling Elizabeth Warren, says he will support fellow billionaire Mike Bloomberg for president

Former Mayor of New York City Michael Bloomberg, October 10, 2019 in Copenhagen, Denmark. Ole Jensen | Getty ImagesBillionaire Leon Cooperman says he will support former New York Mayor Mike Bloomberg if he enters the 2020 Democratic primary for president. Unless he changes his stripes, he will have my unequivocal support,” Cooperman told CNBC on Friday. A private equity executive, who declined to be named in order to speak frankly about the situation, said he would likely support Bloomberg’s cam


Former Mayor of New York City Michael Bloomberg, October 10, 2019 in Copenhagen, Denmark.
Ole Jensen | Getty ImagesBillionaire Leon Cooperman says he will support former New York Mayor Mike Bloomberg if he enters the 2020 Democratic primary for president.
Unless he changes his stripes, he will have my unequivocal support,” Cooperman told CNBC on Friday.
A private equity executive, who declined to be named in order to speak frankly about the situation, said he would likely support Bloomberg’s cam
Leon Cooperman, who has been battling Elizabeth Warren, says he will support fellow billionaire Mike Bloomberg for president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: brian schwartz
Keywords: news, cnbc, companies, leon, primary, president, hes, bloombergs, cooperman, michael, campaign, fellow, warren, mike, elizabeth, billionaire, trump, support, bloomberg


Leon Cooperman, who has been battling Elizabeth Warren, says he will support fellow billionaire Mike Bloomberg for president

Former Mayor of New York City Michael Bloomberg, October 10, 2019 in Copenhagen, Denmark. Ole Jensen | Getty Images

Billionaire Leon Cooperman says he will support former New York Mayor Mike Bloomberg if he enters the 2020 Democratic primary for president. “I’m a huge fan of Michael. I know him personally. It’s a breath of fresh air. Unless he changes his stripes, he will have my unequivocal support,” Cooperman told CNBC on Friday. Cooperman, in an extensive phone interview, noted he would help Bloomberg with fundraising, as long he sticks with his moderate policies. “That’s the whole idea,” he said when asked about potentially helping with fundraising. “I have a world of respect for his accomplishments and his values. I have to sit down and understand his platform. If the Democratic Party was smart, they would support him.” he added.

Bloomberg, 77, has not formally announced his presidential campaign yet. Cooperman is one of several Wall Street executives who are already preparing to help Bloomberg in anyway they can if he runs for president. A private equity executive, who declined to be named in order to speak frankly about the situation, said he would likely support Bloomberg’s campaign as well. This person has contributed to former Vice President Joe Biden’s campaign and others in the race, but has not been impressed so far with the overall field. Cooperman and Bloomberg were both the targets of President Donald Trump on Friday. He nudged the longtime investor, by noting “he’s doing very well with Trump.” Later he took on Bloomberg possibly getting into the primary and said he’d relish a chance at facing him in a general election. “He’s not going to do well but I think he’s going to hurt Biden actually,” Trump said of Bloomberg. “There’s nobody I’d rather run against than little Michael.” A spokesman for Bloomberg did not return a request for comment. While Bloomberg has a net worth of just over $52 billion, according to Forbes, and has signaled he would spend more than $100 million on a campaign for president, he will still need donors to qualify for any potential debates. Cooperman has a net worth of $3.2 billion, according to Forbes. Cooperman, chairman and CEO of Omega Advisors, recently sent a letter to Sen. Elizabeth Warren, a potential rival of Bloomberg’s. In it, he cited Bloomberg’s story of becoming a self-made billionaire as a reason not to criticize the wealthy, as Warren has done since she officially entered the primary in February.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: brian schwartz
Keywords: news, cnbc, companies, leon, primary, president, hes, bloombergs, cooperman, michael, campaign, fellow, warren, mike, elizabeth, billionaire, trump, support, bloomberg


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The president shoots back at Leon Cooperman: ‘He’s doing very well with Trump’

President Donald Trump offered some advice Friday for billionaire Leon Cooperman, who said earlier this week that Trump shouldn’t run for reelection if he doesn’t change his behavior. “Tell Leon, who I don’t know, congratulations because he’s doing very well with Trump,” the president said during a scrum with reporters Friday and in response to a question from CNBC’s Eamon Javers. In a CNBC interview Monday, Cooperman criticized Trump for his conduct that the Omega Advisors founder said is divid


President Donald Trump offered some advice Friday for billionaire Leon Cooperman, who said earlier this week that Trump shouldn’t run for reelection if he doesn’t change his behavior.
“Tell Leon, who I don’t know, congratulations because he’s doing very well with Trump,” the president said during a scrum with reporters Friday and in response to a question from CNBC’s Eamon Javers.
In a CNBC interview Monday, Cooperman criticized Trump for his conduct that the Omega Advisors founder said is divid
The president shoots back at Leon Cooperman: ‘He’s doing very well with Trump’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: jeff cox
Keywords: news, cnbc, companies, leon, president, change, hes, doing, know, cooperman, run, york, trump, shoots, billionaire, bloomberg


The president shoots back at Leon Cooperman: 'He's doing very well with Trump'

President Donald Trump offered some advice Friday for billionaire Leon Cooperman, who said earlier this week that Trump shouldn’t run for reelection if he doesn’t change his behavior.

“Tell Leon, who I don’t know, congratulations because he’s doing very well with Trump,” the president said during a scrum with reporters Friday and in response to a question from CNBC’s Eamon Javers.

In a CNBC interview Monday, Cooperman criticized Trump for his conduct that the Omega Advisors founder said is dividing America. Later in the day Friday, Cooperman said he would be supporting fellow billionaire and former New York City Mayor Michael Bloomberg for president, though Bloomberg has not yet declared an official candidacy.

“He has to become a president for the entire country and not just his base. So if I was him, if I’m not prepared to change my behavior, I would take a victory lap and not run again,” Cooperman said of Trump.

The president said he has seen Cooperman but does not know him, adding that he is entitled to “his own view” though the economy has done well under Trump’s guidance.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: jeff cox
Keywords: news, cnbc, companies, leon, president, change, hes, doing, know, cooperman, run, york, trump, shoots, billionaire, bloomberg


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Trump ally Alan Dershowitz and ex-FBI Director Louis Freeh are lobbying for an Israeli billionaire the US has accused of corruption

There were no other publicly available records that list Dershowitz as a registered lobbyist, according to a CNBC review. Dershowitz and Freeh are lobbying the Treasury Department, which enacted the sanctions, on Gertler’s behalf. “In my opinion, the totality of the evidence found during the investigation refutes the allegations made against Professor Dershowitz,” Freeh said in a statement at the time. Dershowitz told the Times that Gertler is a “very good person” and is “being targeted primaril


There were no other publicly available records that list Dershowitz as a registered lobbyist, according to a CNBC review.
Dershowitz and Freeh are lobbying the Treasury Department, which enacted the sanctions, on Gertler’s behalf.
“In my opinion, the totality of the evidence found during the investigation refutes the allegations made against Professor Dershowitz,” Freeh said in a statement at the time.
Dershowitz told the Times that Gertler is a “very good person” and is “being targeted primaril
Trump ally Alan Dershowitz and ex-FBI Director Louis Freeh are lobbying for an Israeli billionaire the US has accused of corruption Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: brian schwartz
Keywords: news, cnbc, companies, told, president, israeli, lobby, exfbi, dershowitz, billionaire, treasury, gertler, corruption, trump, registered, director, freeh, louis, lobbying


Trump ally Alan Dershowitz and ex-FBI Director Louis Freeh are lobbying for an Israeli billionaire the US has accused of corruption

Celebrity defense attorney Alan Dershowitz and former FBI Director Louis Freeh have registered to lobby the U.S. government on behalf of an Israeli businessman who has been accused of getting rich from corrupt mining deals in Africa, according to a registration form reviewed by CNBC.

The businessman, Dan Gertler, who has a net worth of just over $1 billion, was sanctioned in 2017 and 2018 by the Trump administration for the alleged abuses in affiliation with his business dealings in the Democratic Republic of the Congo.

Lobbying is an unusual role for Dershowitz, who is one of President Donald Trump’s most vocal advocates in the media and has famously defended high-profile clients such as O.J. Simpson. There were no other publicly available records that list Dershowitz as a registered lobbyist, according to a CNBC review. Dershowitz, however, insists he’s acting as an attorney for Gertler.

“I am acting as a defense lawyer, not a lobbyist. But the rules require registration if you present a defense to a non-judicial agency,” he told CNBC. Dershowitz and Freeh are lobbying the Treasury Department, which enacted the sanctions, on Gertler’s behalf.

The filing shows that at least part of their lobbying efforts for Gertler started in October 2018. They appear to have officially registered to act on his behalf on Monday, the date signed on the document by Freeh’s partner, Gregory Paw.

Gertler, according to the Treasury Department, “has amassed his fortune through hundreds of millions of dollars’ worth of opaque and corrupt mining and oil deals” in the DRC. The Treasury put a freeze on his U.S. assets two years ago. In 2017, Gertler sold his stake in two Congo mines to Glencore, a commodities trading company based in Switzerland, for more than $960 million.

The lobbying disclosure form shows that Dershowitz, Freeh and their associate, Gary Apfel of law firm Pepper Hamilton, are targeting the Treasury and, specifically, the Office of Foreign Assets Control. The document describes their lobbying push as a focus on ​”extractive industry & charitable activity.”

Freeh and Dershowitz have known each other for years. After Dershowitz was accused of sexual misconduct by a woman who has claimed she was abused by late financier Jeffrey Epstein, he hired Freeh’s security firm to conduct an independent investigation. Freeh, in 2016, announced that his team “found no evidence to support the accusations of sexual misconduct” against Dershowitz.

“In my opinion, the totality of the evidence found during the investigation refutes the allegations made against Professor Dershowitz,” Freeh said in a statement at the time.

Dershowitz was a staunch defender of Trump during special counsel Robert Mueller’s investigation and has become an advocate for the president during the impeachment inquiry into the July 25 phone call Trump had with Ukrainian President Volodymyr Zelensky.

The New York Times reported in December that Dershowitz was acting as an advisor for Gertler as he fought off the sanctions. Dershowitz told the Times that Gertler is a “very good person” and is “being targeted primarily because of the actions of other people.” He said at the time he was not using his access to Trump to lobby to the administration on Gertler’s behalf.

“I would never raise an issue like this,” he told the Times.

Dershowitz once defended Epstein, who was accused of child sex trafficking before he was found dead in his jail cell from an apparent suicide in August. The two were also friends.

Freeh started using his law firm, Freeh Sporkin & Sullivan, to lobby for clients earlier this year. As Politico reported at the time, one of Freeh’s first clients was Kuwait-based KGL Investment Company. His team was reportedly pushing for the release of Marsha Lazareva, a KGL executive who had been detained in that country since 2017.

Apfel and a representative for Freeh did not return a request for comment. Calls to Gertler’s office in Israel were not returned.


Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: brian schwartz
Keywords: news, cnbc, companies, told, president, israeli, lobby, exfbi, dershowitz, billionaire, treasury, gertler, corruption, trump, registered, director, freeh, louis, lobbying


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