14 Billionaires Including Founder of Infosys and Linkedin Pledged More than 50% of their Wealth to Charitable Causes

14 Billionaires Including Founder of Infosys and Linkedin Pledged More than 50% of their Wealth to Charitable Causes

14 billionaires including Nandan Nilekani, Chairman and co-founder of Infosys, India’s top 10 largest company and co-founder of Linkedin Reid Hoffman have pledged to give more than 50% of their wealth to charitable causes in their life or will.  Their commitment to pledge 50% of their wealth is part of the Giving Pledge that began in 2010 with 40 American philanthropists.

” 14 Billionaires Including Founder of Infosys and Linkedin Pledged More than 50% of their Wealth to Charitable Causes “

In August 2010, 2 of the world’s richest individuals Bill Gates & his wife Melinda Gates and Warren Buffett created the Giving Pledge together with 40 of America’s wealthiest.  The Giving Pledge gathers billionaires or those who would be billionaires to give more than half of their wealth to charitable causes during their lifetimes or in their will.

Since 2010 and in the 8th year in 2018, there are 183 billionaire givers from 22 countries to the Giving Pledge with the announcement of the 14 new pledges from billionaires around the world.  Ranging in age from their 30s to their 90s, they come from 22 countries in Australia, Brazil, Canada, China (mainland and Taiwan), Cyprus, Germany, India, Indonesia, Israel, Malaysia, Monaco, Norway, Russia, Saudi Arabia, Slovenia, South Africa, Tanzania, Turkey, Ukraine, UAE, the United Kingdom, and the United States.

14 new billionaires announced on 30th May 2018:

  1. Aneel and Allison Bhusri, United States | Aneel Bhusri is co-founder and CEO of Workday
  2. David G. Booth, United States | David Booth founder of Dimensional Fund Advisors
  3. Charles Butt, United States | Charles Butt CEO of H-E-B
  4. Garrett Camp, Canada | Garrett Camp Founder and CEO of Expo
  5. Candy and Charlie Ergen, United States | Charlie Ergen co-founder and Chairman of Dish Network and EchoStar
  6. Mario and Regina Gabelli, United States | Mario Gabelli Chairman and CEO of GAMCO Investors
  7. Orion and Jackie Hindawi, United States | Orion Hindawi co-founder of Tanium
  8. Reid Hoffman and Michelle Yee, United States | Reid Hoffman co-Founder of LinkedIn and Partner at Greylock Partners
  9. Badr Jafar and Razan Al Mubarak, UAE | Badr Jafar CEO of Crescent Enterprises and President of Crescent Petroleum
  10. Richard and Melanie Lundquist, United States | Owners of Continental Development Corporation
  11. Rohini and Nandan Nilekani, India | Nandan Nilekani co-Founder and Chairman of Infosys
  12. Ernest and Evelyn Rady, United States | Ernest Rady President and CEO of American Assets Trust
  13. Dr. B.R. Shetty and Dr. C.R. Shetty, UAE| Dr. B.R. Shetty founder of NMC Health plc
  14. Shamsheer and Shabeena Vayalil, UAE and India | Dr. Shamsheer Vayalil founder and MD VPS Healthcare

Source: Giving Pledge

 

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Global Billionaires increased by 357 from 2,397 to 2,754 in 2017

Global Billionaires increased by 357 from 2,397 to 2,754 in 2017

The number of billionaires increased by 357, from 2,397 to 2,754 in 2017 with a combined wealth of $9.2 trillion, in a latest report by Wealth-X Billionaire Census 2018.

” Global Billionaires increased by 357 from 2,397 to 2,754 in 2017 “

The number of billionaires in the world in 2017 is 2,754 with combined $9.2 trillion of wealth, of which 816 billionaires with $2.4 trillion of wealth are in Asia-Pacific, 884 with $3.7 trillion of wealth in The Americas (North & South) and 1,054with $3.7 trillion of wealth in Europe, Middle-east and Africa .

Wealth-X is a leading global wealth information and insight business providing annual reports including The Wealth-X Billionaire Census and the World Ultra Wealth Report.

 

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China Evergrande Group Hui Ka Yan is Now Asia 2nd Richest Man with $34.1 Billion 

China Evergrande Group Hui Ka Yan is Now Asia 2nd Richest Man with $34.1 Billion

Hui Ka Yan, Chairman of China Evergrande Group,  is now Asia’s 2nd richest man with $34.1 billion.  He is behind Jack Ma, founder of Alibaba, who has an estimated fortune of $44 billion.

” Hui Ka Yan, Chairman of China Evergrande Group is Asia’s 2nd richest man with $34.1 billion “

China Evergrande Group is one of the 3 largest real estate developers in China alongside China Vanke Co and Country Garden.  It is an integrated residential property developer.

Source: Bloomberg, South China Morning Post

 

Visit: China Evergrande Group


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Britain Has More Billionaires Than Ever Before

Britain Has More Billionaires Than Ever Before

Britain has more billionaires than ever before. There are now 134 billionaires based in UK according to Sunday Times rich List, 14 more than the previous highest total.  The annual rich list showed that the wealthiest 1,000 individuals and families in Britain have a combined wealth of £658bn, up from £575bn last year.

“Wealthiest 1,000 individuals and families in Britain have a combined wealth of £658bn, up from £575bn last year.”

~ The Guardian

Brothers Srichand and Gopi Hinduja have been ranked the richest people in Britain with a fortune of £16.2bn, up from £13bn. Today, the Hinduja Group employs more than 70,000 people and has global investments in a range of sectors including oil and gas, property, media and banking.

Related Reports: The Guardian, Telegraph

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World’s Billionaires Now Worth $8 Trillion

World’s Billionaires Now Worth $8 Trillion

The world’s billionaires are now worth greater than the GDPs of Germany and France combined. In total, they are now worth $8 trillion. According to the latest Hurun Global Rich List, there are now 2,257 billionaires in the world, up 3% from last year.

“The world’s billionaires are now worth greater than the GDPs of Germany and France combined. In total, they are now worth $8 trillion.”

~ CNBC

Their combined fortunes have increased by 16% over 2016, equivalent to 11% of the world’s annual GDP. Their total wealth is also larger than each country’s individual GDP, other than US and China. According to the report, two-thirds are self made and one-third is inherited.

Related Reports: Hurun Report, CNBC

 


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World’s Wealthiest People Ending 2016 with $237 Billion More

World’s Wealthiest People Ending 2016 with $237 Billion More

The world’s wealthiest people are ending 2016 with $237 billion more than they had from the start of 2016. According to the Bloomberg Billionaires Index, the richest people wealth went through $4.8 trillion of daily net worth gains and losses throughout the year. In the end, it rose 5.7% to $4.4 trillion by 27th December.

“The world’s wealthiest people are ending 2016 with $237 billion more than they had from the start of 2016.”

~Bloomberg

Four of the five biggest gainers in 2016 were Americans, including Warren Buffett, Bill Gates, Harold Hamm and Jeff Bezos. The fifth one was France’s Bernard Arnault who is Chairman & CEO of LVMH. The biggest gains were led by Warren Buffett, who saw an increase of $11.8 billion during the year.

Related Reports: Bloomberg

 


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Asia Creates One Billionaire Every Three Days

Asia Creates One Billionaire Every Three Days

113 Asian entrepreneurs achieved the billionaire status during the year 2015, accounting for more than half of 2015’s world total. China accounted for 80 of the new billionaire entrepreneurs in Asia, which has an average age of 53. Half of these came from technology (19%), consumer & retail (15%) and real estate (15%).

“China accounted for 80 of the new billionaire entrepreneurs in Asia, which has an average age of 53.”

~UBS/PWC Billionaires 2016

However, a billionaire wealth status can be lost quickly in China. Forty of China’s tycoons have lost their billionaire status in the year as the volatility in asset prices and government checks have affected their wealth.

Related Reports: PWC Press Release, Billionaire Report

 


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Billionaires Holding More than $1.7 trillion in Cash

Billionaires Holding More than $1.7 trillion in Cash

The world’s billionaires are holding more than $1.7 trillion in cash, the highest amount since one firm recorded this figure in 2010. According to Wealth-X Billionaire Census, the world’s 2473 billionaires are keeping 22.2% of their total net worth in cash.

“The world’s billionaires are holding more than $1.7 trillion in cash.”

~ Wealth-X

The world’s billionaires’ saw their fortunes grow last year by 5.4% to $7.7 trillion. While Europe had the biggest number of billionaires, Asia had the fastest growth in the number of billionaires. The number of billionaires grew by 15% over the prior year to 645. More than half of the world’s billionaires are what Wealth-X calls “entirely self-made,” meaning they made their fortunes themselves. Billionaires who inherited their entire fortune account for just 13 percent of the total.

Related Reports: Wealth-X, CNBC

 

About Wealth-X Billionaire Census

The only comprehensive study of the global billionaire population, the 2015 – 2016 Billionaire Census provides unprecedented insight into the assets, lifestyles, motivations and social networks of the world’s wealthiest individuals. This year’s report details the life cycle of the average billionaire, from education and accumulation of wealth to philanthropy and transfer of wealth.

Visit: Wealth-X Billionaire Census


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Top 10 Billionaires in Hong Kong Worth 35% of City’s GDP

Top 10 Billionaires in Hong Kong Worth 35% of City’s GDP

The top 10 billionaires in Hong Kong have a combined net worth equal to 35% of the city’s economy, compared with ratios of 5.2 percent in India and 1.4 percent in China, according to calculations based on the Bloomberg Billionaires Index and International Monetary Fund estimates of gross domestic product.

“The top 10 billionaires in Hong Kong have a combined net worth equal to 35% of the city’s economy.”

~ Bloomberg

The highest proportions in Europe are Sweden at 25 percent, Switzerland at 9.2 percent and Russia at 8.8 percent.

Related Reports: Bloomberg

 

About International Monetary Fund

The IMF, also known as the Fund, was conceived at a UN conference in Bretton Woods, New Hampshire, United States, in July 1944. The 44 countries at that conference sought to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s.

The IMF’s responsibilities: The IMF’s primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The Fund’s mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability.

Visit: IMF

 


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