The 100 wealthiest people on the planet added US$380 million to their collective net worth after the Standard & Poor’s (S&P) 500 Index reached its highest level since October 2007 last week.
Carlos Slim, the world’s richest man, shed US$3.9 billion from his net worth as shares of America Movil SAB slid 10.8 percent after the mobile phone operator said slower economic growth in Mexico hurt revenue.
Slim, 73, has a net worth of US$74.1 billion, according to the Bloomberg Billionaires Index.
The S&P 500 closed at 1,519.79 on Friday, up 0.12 percent for the week. The index capped a seventh straight weekly gain, the longest streak in two years.
Better-than-forecast manufacturing and consumer confidence data fueled optimism in the economy. The yen erased gains against the US dollar as G20 finance officials met in Moscow.
Microsoft co-founder Bill Gates, 57, is the world’s second-richest person with a US$66.2 billion fortune.
Amancio Ortega, the 76-year-old founder of Inditex SA, the world’s biggest clothing retailer and owner of the Zara clothing chain, is No. 3 with a net worth of US$57.4 billion, US$3.9 billion ahead of Warren Buffett.
The 82-year-old Buffet’s Berkshire Hathaway Inc and 3G Capital, an investment firm backed by three Brazilian billionaires — Jorge Paulo Lemann, 73, and his partners Marcel Telles and Carlos Alberto Sicupira — agreed to buy Pittsburgh-based HJ Heinz Co for about US$23 billion on Thursday.
The trio have a combined net worth of US$35.5 billion. Lemann is Brazil’s richest man.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
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