Billionaires

in Asia, Billionaires, Business, Money

Billionaire Sarath Ratanavadi’s Gulf Energy Makes Maiden Investment In U.S. Electricity Market

Sarath Ratanavadi, founder and CEO of Gulf Energy.Courtesy of Sarath Ratanavadi Gulf Energy—controlled by billionaire Sarath Ratanavadi—has agreed to buy a 49% stake in a U.S. power plant from Japan’s Electric Power Development in its maiden investment in the U.S. electricity market. The Bangkok-based company will pay about $410 million for the minority stake in… More

September 9, 2022, 4:15 am
in Billionaires, Business, Investing, Markets, Money, Personal Finance, Retail, Wealth Management

Bed Bath & Beyond Shares Down 18% After CFO Dies By Suicide

Topline Shares of struggling retailer Bed Bath & Beyond traded sharply lower on Tuesday following the death of chief financial officer Gustavo Arnal over the weekend, which was later ruled as a suicide by the New York City Medical Examiner’s Office. The company has appointed its chief accounting officer as interim CFO. Moment Editorial/Getty Images… More

September 6, 2022, 7:55 am
in Billionaires, Investing, Money

Billionaire Julian Robertson Dies At 90 – Contrarian Investing Guided His Pioneering Hedge Fund

Julian Robertson was one of the first hedge fund billionaires and was chosen as one of the 100 greatest living business minds by Forbes in 2017.Martin Schoeller for Forbes Julian Robertson, who built one of the most successful hedge funds of the late 20th century and later seeded many of his proteges’ firms, died Tuesday… More

August 23, 2022, 2:29 pm
in Billionaires, Business, Consumer Tech, Innovation, Investing, Markets, Money, Personal Finance, Retirement, Wealth Management

Zoom Shares Sink 15% After ‘Concerning’ Earnings Miss, Analysts Downgrade The Stock

Topline Shares of videoconferencing service Zoom, one of 2020’s pandemic-era stock market darlings, have continued to struggle this year, plunging 15% on Tuesday after several Wall Street analysts downgraded the stock amid concerns that the company faces slowing revenue growth. Zoom’s success has been “overshadowed” by a decline in profitability and cash flow, analysts warn.… More

August 23, 2022, 12:34 pm
in Asia, Billionaires, Business, Consumer Tech, Fintech, Innovation, Investing, Markets, Money, Personal Finance, Wealth Management

AMTD Digital Plunges Nearly 30%—Stay Away From This ‘Absolute Scam,’ Expert Warns

Topline Shares of Hong Kong fintech firm AMTD Digital continued to plunge on Thursday, crashing for a second day in a row after rising more than 21,000% since its July IPO, with experts calling it a new meme stock and warning investors to stay away from the stock as its valuation looks like “an absolute… More

August 4, 2022, 9:33 am
in Asia, Billionaires, Business, Innovation, Investing, Markets, Money

Chairman Of World’s Hottest Stock AMTD Now Worth Nearly $37 Billion, More Than Li Ka-Shing

Calvin Choi controls AMTD Digital, the world’s hottest stock right now, through a web of companies. Forbes estimates his holdings via that company make him Asia’s sixth-richest person, but few think it’s worth anywhere near that much or that the stock will hold up. Even his stake in its parent company, through which he holds… More

August 4, 2022, 6:00 am
in Asia, Billionaires, Business, Money

Alibaba, Singapore Tycoons Win Approval To Build Lion City’s Tallest Skyscraper

Skyscrapers light up Singapore’s night sky. DEA / M. BORCHI/De Agostini via Getty Images Chinese e-commerce giant Alibaba in partnership with Perennial Holdings—which counts Singapore billionaires Kuok Khoon Hong and Ron Sim among its major shareholders—have won government approval to build the tallest skyscraper in the Lion City, one of the hottest office markets in… More

August 4, 2022, 1:35 am
in Asia, Billionaires, Business, Consumer Tech, Innovation, Investing, Markets, Money, Personal Finance, Wealth Management

AMTD Digital May Be The New ‘Perfect Meme Stock,’ Loses $100 Billion In Value In One Day After Rising Over 125%

Topline Shares of under-the-radar Hong Kong fintech company AMTD Digital continued to swing wildly in volatile trading on Wednesday after a more than 21,000% run up since its IPO last month, and although it’s still unclear what’s sparking the wild price action, many are likening it to the meme-stock frenzy of early 2021. The Hong-Kong… More

August 3, 2022, 11:31 am
in Billionaires, Investing, Money, Personal Finance, Taxes, Wealth Management

Winner Of $1.28 Billion Lottery Gets $433.7 Million After Tax

Someone in Illinois bought the winning ticket, and if he or she does like most winners, they will take the lump sum, not the annuity. The $1.28 billion prize, which is the second-largest jackpot in Mega Millions lottery history, can be claimed in a lump sum or over time. The 1.28 billion is only if… More

July 30, 2022, 1:37 pm
in Asia, Billionaires, Business, Money

Chinese Billionaire Jack Ma To Cede Control Of Fintech Giant Ant Group: WSJ

Jack Ma takes part in the “Valuing What Matters” Plenary Session during the third day of the Clinton Global Initiative’s 10th Annual Meeting at the Sheraton New York Hotel & Towers on September 23, 2014 in New York City. Michael Loccisano/Getty Images Jack Ma plans to cede control of his fintech giant Ant Group, according… More

July 29, 2022, 2:55 am
in Billionaires, Business, Consumer Tech, Innovation, Investing, Markets, Media, Money, Personal Finance, Wealth Management

Facebook Parent Meta Shares Fall After Company Warns Of ‘Weak Advertising Demand’

Topline Facebook parent Meta saw its stock plunge in after-hours trading on Wednesday following second-quarter earnings results that came in below expectations, as investors were particularly spooked by the company’s weak revenue forecast and struggling online advertising business. Some analysts warn that Meta faces an “Everest-like uphill battle ahead.” Rafael Henrique/SOPA Images/LightRocket via Getty Images… More

July 27, 2022, 1:52 pm
in Asia, Billionaires, Business, Investing, Money

China Power Woman Resigns From Top Post At Great Wall Motor

Wang Feng Ying in 2012. AFP PHOTO / NIKOLAY DOYCHINOV (Photo credit should read NIKOLAY … [+] DOYCHINOV/AFP via Getty Images) AFP via Getty Images A frequent member of surveys of China’s most influential businesswomen has left her main post. Wang Feng Ying resigned on Sunday as general manager of Great Wall Motor, China’s largest… More

July 24, 2022, 4:05 pm
in Billionaires, Business, Energy, Investing, Markets, Money, Personal Finance, Retirement, Wealth Management

Is Warren Buffett’s Favorite Stock Overbought? Occidental Petroleum Gets Downgrade From Analysts

Topline Shares of Occidental Petroleum, a favorite of billionaire investor Warren Buffett, fell 2% on Monday after Goldman Sachs analysts downgraded the stock and warned valuations look less attractive after a massive rally and “sharp outperformance” so far this year. Some analysts believe Occidental Petroleum shares don’t have much room left to run after a… More

July 11, 2022, 12:41 pm
in Asia, Billionaires, Business, Innovation, Money

Pop Star JJ Lin Joins Singaporean Scions To Build ‘Web2.5’ NFT Community

After nearly two decades in the music industry, Singaporean pop star JJ Lin is collaborating with two next-generation tycoons to cofound ARC, an app-based digital community that authenticates member profiles with non-fungible tokens (NFTs). Lin, an honoree of Forbes Asia’s 100 Digital Stars in 2020, is joining Kiat Lim, son of Singaporean billionaire Peter Lim,… More

July 6, 2022, 8:58 pm
in Asia, Billionaires, Business, Innovation, Money

Founder Of Apple Distributor Com7 Joins Ranks Of Thailand’s 50 Richest As Demand Explodes

This story appears in the July 2022 issue of Forbes Asia. Subscribe to Forbes Asia Sura KhanittaweekulKittidech Charoenporn/Forbes Thailand This story is part of Forbes’ coverage of Thailand’s Richest 2022. See the full list here. Soaring demand for smart devices during the pandemic powered the wealth of Com7 cofounder and vice chairman Sura Khanittaweekul, who… More

July 6, 2022, 2:11 pm

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