https://www.forbes.com/real-time-billionaires/#463cce2d3d78
If humans have intrinsic value, it had to come from somewhere (or Someone) outside of the human race. Otherwise, the value that is ascribed to humans is merely subjective and instrumental. As I have described in a previous post ( Why Is The Image of God So Important ), this discussion is tied to one's view of human origins.
PREMIUM
BILLIONAIRES
These Billionaires Made A Killing In October
Nov 1, 2022,07:35am EDT
There were 26 billionaires including Warren Buffett and Larry Ellison whose fortunes rose more than $1 billion last month.
October may be the spookiest month of the year, but it marked a welcome reprieve from an otherwise mostly ghastly stretch for investors. That’s true too for many of America’s richest people. A historic stock market rally—the best October in 46 years—meant many U.S. billionaires ended last month richer than they were in September.
According to Forbes’ estimates, 26 U.S. billionaires’ fortunes jumped by $1 billion or more in October. After hitting a yearly low in September, the Dow Jones Industrial Average, which tracks 30 blue-chip stocks including Apple, Disney and Coca Cola, closed out October with a gain of 14%, the best monthly performance since 1976. The S&P 500 and Nasdaq Composite rose 8% and 4%, respectively.
The biggest dollar gainer last month was Larry Ellison, the cofounder, chairman and chief technology officer of software giant Oracle. His estimated net worth jumped $16.6 billion, or 19%, as Oracle’s shares soared 24%, after bottoming out in mid-September following disappointed earnings and August layoffs. Investor sentiment appears to have turned around, as Oracle continues to digest its recent acquisition of healthcare IT company Cerner.
Revered investor Warren Buffett, whose firm Berkshire Hathaway holds stakes in such blue-chip stocks as American Express, Coca-Cola and Chevron, was up $8.9 billion (9.4%) in October. While his estimated net worth is still 5.3% less than it was at the start of this year, Berkshire has outperformed the Dow this year.
Another October winner was Phil Knight, the founder of Oregon-based shoe and athletic apparel company Nike. Its shares dropped to a 20-year low of $83 in September after it reported a massive inventory glut caused by supply chain issues, which in turn knocked down the company’s profitability. Shares rebounded about 9% in October, adding $2.9 billion to Knight’s net worth but he is still down $23.5 billion for the year.
Just two of October’s biggest billionaire gainers are actually better off now than they were at the start of the year. One is Thomas Peterffy, the founder and chairman of the online trading platform Interactive Brokers, who is up 5.5% year-to-date. His company’s shares jumped 26% in October, after it beat predictions and reported record third quarter revenues. Meanwhile, Ubiquiti Networks founder and CEO Robert Pera is worth an estimated $20.1 billion, 12% more than in January, as strong demand for network devices buoyed shares of his wireless equipment maker.
Thomas Peterffy founded Interactive Brokers in 1993, and served as CEO until December 2019.
Of course, there were many who had a ghoulish month. As previously reported by Forbes, tech leaders Mark Zuckerberg and Jeff Bezos saw their fortunes plunge after Meta Platforms and Amazon, respectively, reported disappointing quarterly earnings.
At least five other billionaires lost $1 billion or more in October, including Elon Musk (-$24.7 billion); Bezos’ ex-wife MacKenzie Scott (-$3.1 billion); rapper turned fashion entrepreneur Kanye West (-$1.6 billion); Meta cofounder Dustin Moskovitz (-$1.6 billion); and Estée Lauder heir Leonard Lauder (-$1.1 billion). Still winners easily beat out losers.
Here are the 10 U.S. billionaires with publicly-traded fortunes who had the biggest gains last month. (The net worth change is as of close of markets on Monday, October 31.):
1. Larry Ellison
Net worth: $103.2 billion
October change: UP $16.6 billion YTD change: DOWN $16.5 billion
Source of wealth: Oracle
2. Warren Buffett
Net worth: $102.9 billion
October change: UP $8.9 billion
YTD change: DOWN $5.7 billion
Source of wealth: Berkshire Hathaway
3. Thomas Peterffy
Net worth: $25.3 billion
October change: UP $4.5 billion
YTD change: UP $1.3 billion
Source of wealth: Interactive Brokers
4. Jim Walton
Net worth: $61 billion
October change: UP $4.2 billion
YTD change: DOWN $6.2 billion
Source of wealth: Walmart
5. Alice Walton
Net worth: $58.8 billion
October change: UP $4.1 billion
YTD change: DOWN $7.4 billion
Source of wealth: Walmart
6. Rob Walton
Net worth: $59.7 billion
October change: UP $4.1 billion
YTD change: DOWN $6.2 billion
Source of wealth: Walmart
7. Robert Pera
Net worth: $20.1 billion
October change: UP $3 billion
YTD change: UP $2.5 billion
Source of wealth: Wireless networking gear
8. Phil Knight
Net worth: $37.4 billion
October change: UP $2.9 billion
YTD change: DOWN $23.5 billion
Source of wealth: Nike
9. Michael Dell
Net worth: $49.9 billion
October change: UP $2.7 billion
YTD change: DOWN $7.6 billion
Source of wealth: Dell Technologies
10. Thomas Frist
Net worth: $18.2 billion,
October change: UP $2.3 billion
YTD change: DOWN $2.9 billion
Source of wealth: Hospitals
Real Time Billionaires (2022) October's List :
RANK, NAME, NET WORTH, AGE years old , SOURCE OF WEALTH, COUNTRY.
#1. Elon Musk, $223.2B, 51yo,Tesla, SpaceX, USA.
• Elon Musk cofounded six companies including electric car maker Tesla, rocket producer SpaceX and tunneling startup Boring Company.
•He owns about 25% of Tesla between stock and options, but has pledged more than half his stock as collateral for loans. • SpaceX, founded in 2002, is worth $127 billion after a funding round in May 2022; it quadrupled its value in three years.
- Boring Company, which aims to defeat traffic, raised $675 million in April 2022 at a $5.7 billion valuation.
•Twitter's board agreed to sell the company to Musk for $44 billion in April 2022, after he disclosed a 9.1% stake and threatened a hostile takeover.
•In July 2022, Musk announced he was terminating the deal over bot concerns. Twitter sued and the parties will go to court in October.
Wealth History, Net Worth by Year:
2013 $2.7B
2014 $8.4B
2015 $12B
2016 $10.7B
2017 $13.9B
2018 $19.9B
2019 $22.3B
2020 $24.6B
2021 $151B
2022 $219B
"I operate on the physics approach to analysis. You boil things down to the first principles or fundamental truths in a particular area and then you reason up from there." - Elon Musk
#2. Bernard Arnault & family, $159.6B, 73yo, LVMH (Louis Vuitton with Moët Hennessy), FRANCE. [click more details]
•Bernard Arnault oversees the LVMH empire of some 70 fashion and cosmetics brands, including Louis Vuitton and Sephora. •In January 2021, LVMH acquired American jeweler Tiffany & Co for $15.8 billion, believed to be the biggest luxury brand acquisition ever.
•LVMH spent $3.2 billion in 2019 for luxury hospitality group Belmond, which owns or manages 46 hotels, trains and river cruises.
- His father made a small fortune in construction; Arnault got his start by putting up $15 million from that business to buy Christian Dior in 1985.
- Four of Arnault's five children work in corners of the LVMH empire: Frédéric, Delphine, Antoine and Alexandre.
- Wealth HistoryNET WORTH BY YEAR
2013 $29B
2014 $33.5B
2015 $37.2B
2016 $34B
2017 $41.5B
2018 $72B
2019 $76B
2020 $76B
2021 $150B
2022 $158B
"I see myself as an ambassador of French heritage and French culture. What we create is emblematic. It's linked to Versailles, to Marie Antoinette." –Bernard Arnault & family
#3. Gautam Adani, $135.9B, 60yo, infrastructure, commodities, INDIA.
•Gautam Adani is chairman of the $21 billion (revenue) Adani Group with interests in ports, airports, power generation and transmission, green energy, edible oils, cement and real estate, among others. •Adani controls Mundra Port, India's largest, in his home state of Gujarat. •Adani acquired a 74% stake in Mumbai International Airport, India's second-busiest, in September 2020. He's now the country's biggest airport operator. •In 2022, Adani acquired Swiss firm Holcim's Indian assets for $10.5 billion to become India's second-largest cement producer. •Adani wants to be the world's largest producer of green energy and has said he will invest upto $70 billion on renewable energy projects.
Wealth History, Net Worth by Year:
2013 $3.1 B
2014 $2.4B
2015 $6.6B
2016 $3.5B
2017 $5.8B
2018 $9.7B
2019 $8.7B
2020 $8.9B
2021 $50.5B
2022 $90B
"Being an entrepreneur is my dream job as it tests ones tenacity. I could never take orders from anyone."– Gautam Adani
#4. Jeff Bezos, $125.9B,
58yo, Amazon, USA.
- Jeff Bezos founded e-commerce giant Amazon in 1994 out of his garage in Seattle. He stepped down as CEO to become executive chairman in July 2021. •He now owns a bit less than 10% of the company.
- He and his wife MacKenzie divorced in 2019 after 25 years of marriage and he transferred a quarter of his then-16% Amazon stake to her. • Bezos has donated more than $400 million worth of stock to nonprofits in 2022, though it's unclear which organizations received those shares.
- Bezos owns The Washington Post and Blue Origin, an aerospace company developing rockets; he briefly flew to space in one in July 2021. More details click here .
Wealth History, Net Worth by Year:
2013 $25.2B
2014 $32B
2015 $34.8B
2016 $45.2B
2017 $72.8B
2018 $112B
2019 $131B
2020 $113B
2021 $177B
2022 $171B
"I didn't think I'd regret trying and failing. And I suspected I would always be haunted by a decision to not try at all."–Jeff Bezos
#5. Larry Ellison, $103.2B,
78yo, Oracle, USA.
•Larry Ellison is chairman, chief technology officer and cofounder of software giant Oracle, of which he owns about 35%. •He gave up the Oracle CEO role in 2014 after 37 years at the helm. •Oracle has grown in part through steady acquisitions of software companies, the biggest of which was $28.3 billion for electronic health records company Cerner in 2021. •In 2020, Ellison moved permanently to the Hawaiian island Lanai, which he bought nearly all of in 2012 for $300 million. •Ellison sat on the board of Tesla from December 2018 to August 2022. He still owns about 15 million shares in the electric carmaker.
Wealth History, Net Worth by Year:
2013 $43B
2014 $48B
2015 $54.3B
2016 $43.6B
2017 $52.2B
2018 $58.5B
2019 $62.5B
2020 $59B
2021 $93B
2022 $106B
"When people start telling you that you're crazy, you just might be on to the most important innovation in your life."–Larry Ellison
#6. Warren Buffett, $102.9B,
92yo, Berkshire Hathaway, USA.
- Known as the "Oracle of Omaha," Warren Buffett is one of the most successful investors of all time.
- Buffett runs Berkshire Hathaway, which owns dozens of companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen. •The son of a U.S. congressman, he first bought stock at age 11 and first filed taxes at age 13. •He has promised to donate over 99% of his wealth. So far he has given more than $49 billion, mostly to the Gates Foundation and his kids' foundations.
- In 2010, he and Bill Gates launched the Giving Pledge, asking billionaires to commit to donating at least half of their wealth to charitable causes.
Wealth History, Net Worth by Year:
2013 $53.5B
2014 $58.2B
2015 $72.7B
2016 $60.8B
2017 $75.6B
2018 $84B
2019 $82.5B
2020 $67.5B
2021 $96B
2022 $118B
"Rational people don't risk what they have and need for what they don't have and don't need." –Warren Buffett
#7. Bill Gates, $102.4B, 67yo, Microsoft, USA.
•Bill Gates turned his fortune from software firm Microsoft into diversified holdings including investments in zero-carbon energy. •In May 2021, Bill and Melinda Gates each announced on Twitter they were ending their marriage after 27 years. They still co-chair the charitable Gates Foundation.
•Gates, who cofounded Microsoft with Paul Allen (d. 2018) in 1975, transferred at least $6 billion worth of shares in public companies to Melinda as part of the divorce settlement. •As of March 2020, when Gates stepped down from the Microsoft board, he owned about 1.3% of the software and computing company's shares.
•He has invested in dozens of companies including Republic Services and Deere & Co., and is one of the largest owners of farmland in the U.S. •To date, Gates has donated nearly $57 billion to the Gates Foundation, including a $20 billion gift announced in July 2022. Most of his early donations were gifts of Microsoft stock.
Wealth History, Net Worth by Year:
2013 $67B
2014 $76B
2015 $79.2B
2016 $75B
2017 $86B
2018 $90B
2019 $96.5B
2020 $98B
2021 $124B
2022 $129B
"Money has no utility to me beyond a certain point. Its utility is entirely in building an organization and getting the resources out to the poorest in the world."–Bill Gates
#8. Mukesh Ambani, $89.2B,
65yo, diversified industries, INDIA.
•Mukesh Ambani chairs and runs $104 billion (revenue) Reliance Industries, which has interests in petrochemicals, oil and gas, telecom and retail.
•Reliance was founded by his late father Dhirubhai Ambani, a yarn trader, in 1966 as a small textile manufacturer. After his father's death in 2002, Ambani and his younger sibling Anil divided up the family empire.
- Reliance sparked a telecom price war with the launch of 4G phone and broadband service Jio in 2016. Today, it has more than 420 million subscribers and is readying to launch 5G services.•
- Ambani is pivoting Reliance into green energy. The company will be investing $80 billion over the next 10-15 years on renewable energy and building a new complex next to its refinery.
- Ambani has spelled out his succession plan: son Akash is now chairman of Reliance Jio; daughter Isha oversees retail and younger son Anant has been inducted into the new energy business.
Wealth History, Net Worth by Year:
2013 $21.5B
2014 $18.6B
2015 $21B
2016 $19.3B
2017 $23.2B
2018 $40.1B
2019 $50B
2020 $36.8B
2021 $84.5B
2022 $90.7B
Reliance Industries bought the Mandarin Oriental hotel in New York for $98 million.
"Anything and everything that can go digital is going digital. India cannot afford to be left behind."–Mukesh Ambani
#9. Carlos Slim Helu & family, $82.6B, 82yo, telecom, MEXICO.
- Mexico's richest man, Carlos Slim Helu and his family control América Móvil, Latin America's biggest mobile telecom firm.
- With foreign telecom partners, Slim bought a stake in Telmex, Mexico's only phone company, in 1990. Telmex is now part of América Móvil.
- He also owns stakes in Mexican construction, consumer goods, mining and real estate companies and 17% of The New York Times.
- His son-in-law Fernando Romero designed the Soumaya Museum in Mexico City, home to Slim's extensive, eclectic art collection.
- Slim and his family hold a 79% stake of Grupo Carso, one of Latin America's largest conglomerates, accounting for over 8% of his fortune.
Wealth History, Net Worth by Year:
2013 $73B
2014 $72B
2015 $77.1B
2016 $50B
2017 $54.5B
2018 $67.1B
2019 $64B
2020 $52.1B
2021 $62.8B
2022 $81.2B
"When you live for others' opinions, you are dead. I don't want to live thinking about how I'll be remembered."–Carlos Slim Helu & family
Self–made score , 1 to 10.
Click [
https://www.forbes.com/sites/jonathanponciano/2020/09/08/self-made-score/?sh=6db9174141e4
]
#10. Larry Page, $82.1B, 49yo, Google, USA.
•Larry Page stepped down as CEO of Alphabet, the parent of Google, in December 2019 but remains a board member and a controlling shareholder. •He cofounded Google in 1998 with fellow Stanford Ph.D. student Sergey Brin. •With Brin, Page invented Google's PageRank algorithm, which powers the search engine.
•Page was CEO until 2001, when Eric Schmidt took over, and then from 2011 until 2015, when he became CEO of Google's new parent company Alphabet.
- He is a founding investor in space exploration company Planetary Resources and is also funding "flying car" startups Kitty Hawk and Opener.
Wealth History, Net Worth by Year:
2013 $23B
2014 $32.3B
2015 $29.7B
2016 $35.2B
2017 $40.7B
2018 $48.8B
2019 $50.8B
2020 $50.9B
2021 $91.5B
2022 $111B
"You never lose a dream; it just incubates as a hobby."– Larry Page
#11. Sergey Brin, $78.8B,
49yo, Google, USA.
Wealth History, Net Worth by Year:
2013 $
2014 $
2015 $
2016 $
2017 $
2018 $
2019 $
2020 $
2021 $
2022 $
#12. Michael Bloomberg, $76.8B,
80yo, Bloomberg LP, USA.
Wealth History, Net Worth by Year:
2013 $
2014 $
2015 $
2016 $
2017 $
2018 $
2019 $
2020 $
2021 $
2022 $
#13. Steve Ballmer, $76.6B,
66yo, Microsoft, USA.
Wealth History, Net Worth by Year:
2013 $
2014 $
2015 $
2016 $
2017 $
2018 $
2019 $
2020 $
2021 $
2022 $
#14. Francoise Bettencourt Meyers & family, $64.9B, 69yo, L'Oréal, FRANCE.
Wealth History, Net Worth by Year:
2013 $
2014 $
2015 $
2016 $
2017 $
2018 $
2019 $
2020 $
2021 $
2022 $
#15. Zhong Shanshan, $63.1B, 67yo, beverages, pharmaceuticals, CHINA.
Wealth History, Net Worth by Year:
2013 $
2014 $
2015 $
2016 $
2017 $
2018 $
2019 $
2020 $
2021 $
2022 $
#16. Jim Walton, $61.0B, 74yo, Walmart, USA.
Wealth History, Net Worth by Year:
2013 $
2014 $
2015 $
2016 $
2017 $
2018 $
2019 $
2020 $
2021 $
2022 $
#17. Rob Walton, $59.7B,
78yo,Walmart, USA.
#18.
Alice Walton,
$58.8B
73yo,
Walmart
$57.3B
60yo,
Koch Industries
Julia Koch & family
19
Charles Koch
19 19
$57.3 B
87yo,
Koch Industries
$57.1B,
$218
86yo,
Zara
Amancio Ortega
21
David Thomson & family
22
$50.0B
65yo,
media
23
Michael Dell
$49.9B
$397
57yo,
Dell
Technologies
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