SavvySugar

Forbes List Reminds Us Billionaires Are Suffering Too

SavvySugar — Thu, 12 Mar 2009 07:15:44 -0700

Billionaires! They're just like us! Well, they still have better Summer homes, private planes and much bigger blocks of gold, but Forbes reports the richest people in the world have gotten poorer along with the rest of us over the last year. Bill Gates lost $18 billion this year, but won back his title as the world's richest man and is estimated to be worth $40 billion. Last year's champ Warren Buffet and Mexican telecom giant Carlos Slim Helú came in second and third place. How bad are the numbers for the rest? This year the billionaires have an average net worth of $3 billion, down 23 percent in 12 months.

The world now has 793 billionaires, down from 1,125 a year ago.
After slipping in recent years, the US is gaining dominance on the list. Americans account for 44 percent of the money and 45 percent of the list's slots, up seven and three percentage points from last year.
Warren Buffett was last year's No. 1, but saw his fortune decline $25 billion as shares of Berkshire Hathaway fell nearly 50 percent in 12 months.
Mexican telecom giant Carlos Slim Helú maintains his spot in the top three, but lost $25 billion.

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Biggest Headline of 2008: World's Richest Person Is a Different Name

SavvySugar — Thu, 11 Dec 2008 13:30:29 -0800

What's the first word that comes to mind when you hear the name Bill Gates? Billions, perhaps? The self-made billionaire owned the title of World's Richest Person for 13 years until this year, when another household name, Warren Buffett, took it away. When the announcement was made back in March, Buffett's fortune was valued at $62 billion compared to Gates's $58 billion.

Both billionaires likely took a hit, along with the rest of us, when the stock market spiraled downward. Still, Warren Buffett stepped in to boost investor confidence when he bought $5 billion of Goldman Sachs shares during a crucial time for the firm and the whole financial services industry.

Warren Buffett's admirable business mind made him the billionaire he is today, and has earned him a place in the Best of 2008.

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Jerry Seinfeld Microsoft Commercial: Hit or Miss?

SavvySugar — Tue, 09 Sep 2008 06:30:02 -0700

Microsoft wasn't messing around when it landed on a $300 million number to fund a new advertising campaign starring Jerry Seinfeld. The first advertisement was recently released and it's gotten mixed reviews. Some ad-industry professionals are saying the commercial is a success because it's creating buzz about Microsoft, but others have said that it misses the mark and does nothing to change the brand's dull image.

World's Richest Person Is a Different Name After 13 Years

SavvySugar — Fri, 07 Mar 2008 06:51:33 -0800

Bill Gates' fortune has been trumped by that of Warren Buffett, according to Forbes' annual ranking of the world's wealthiest people. While Gates topped Vanity Fair's 2007 Windfall Report earlier this week, he fell from his number one spot as world's richest person after 13 years of owning the title. Warren Buffett (Berkshire Hathaway CEO) is now proclaimed to be wealthiest with his $62 billion and Carlos Slim Helú (Mexican telecom tycoon) is number two with $60 billion to his name, while Bill Gates settled in at three with his $58 billion.

This is the 22nd time Forbes has ranked the world's billionaires, and there are some stand out stats from this year's list. This is the first year that the number of billionaires crossed the 1,000 mark and reached 1,125 total, 226 of these are newcomers, and 50 are under the age of 40. The list has greater international representation this year - India has four in the top 10 (more than any other country), and while the U.S. still has the most billionaires overall Russia is the new number two with 87 billionaires.

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Melinda Gates Opens Up

SavvySugar — Tue, 08 Jan 2008 12:37:31 -0800

Three Ms come to mind when I hear the name Bill Gates: Microsoft, money, and Melinda.

The first made him wealthy, the second keeps him in the news, and the third recently opened up to Fortune for her first-ever profile! Besides talking to Fortune, Melinda has been dedicating 30 hours a week to the Bill and Melinda Gates Foundation. She explained her time commitment when she said, “As I thought about strong women of history, I realized that they stepped out in some way.”

Here are some interesting facts about the Gates:

Melinda has a BA and a MBA from Duke University, while Bill was a Harvard dropout.
She started working for Microsoft in Seattle when she was 22 years old, and four months into the job she was seated next to Bill at a dinner. She was attracted to his humor - what girl doesn't love a guy that makes her laugh - and he thought she was a looker.

Three more so, read more

Melinda kept office life professional and was promoted several times at Microsoft, refusing to accompany Bill to any work-related events.
She's a very compassionate woman and really got the ball rolling with their foundation work. The foundation has already given away $14.4 billion.
Melinda says she and Bill will follow Warren Buffett's philosophy in considering the distribution of their weatlh: "A very rich person should leave his kids enough to do anything, but not enough to do nothing."

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Travel on the Cheap, Mexico Style

SavvySugar — Sun, 24 May 2009 05:30:23 -0700

The whole swine flu debacle has given our southern neighbor a bad rap. But how can you slam sipping margaritas on the beach for cheap, especially since the the Centers for Disease Control and Prevention lifted its ban on nonessential travel to Mexico on May 15? The travel gates are open for anyone who dares to book a vacation, and resorts are practically giving away reservations to entice you say si.

According to The New York Times, wooing back tourists can mean 70 percent resort discounts and round-trip airfare for under $300 from most major US cities. See? Cheap. For the extra-cautious traveler, some resorts are offering flu-free guarantees that include payment of all medical bills if you become infected and free future vacations.

Are you considering taking advantage of this country-wide sale?

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The Most Admired Men and Women of 2008

SavvySugar — Mon, 05 Jan 2009 13:00:38 -0800

We're starting to switch gears to 2009, but last year was a big one and 2008 is hardly a distant memory at this point. A Gallup poll asked Americans who they admired most in 2008 and the results are varied and interesting.

For the seventh year in a row, Hillary Clinton was ranked as the most admired woman, and Sarah Palin ousted second place incumbent Oprah Winfrey in the 2008 list. Barack Obama was voted the most admired man for the first time: In fact, Gallup notes that Obama is the first president-elect since Dwight Eisenhower in 1952 to top the list.

Most Admired Men, 2008

Admired Person	Percent of Vote
Barack Obama	32 percent
George W. Bush	5 percent
John McCain	3 percent
Pope Benedict XVI	2 percent
Rev. Billy Graham	2 percent
Bill Clinton	2 percent
Colin Powell	2 percent
Nelson Mandela	1 percent
Bill Gates	1 percent
The Dalai Lama	1 percent

See the Most Admired Women of 2008 when you read more.

Most Admired Women, 2008

Admired Person	Percent of Vote
Hillary Clinton	20 percent
Sarah Palin	11 percent
Oprah Winfrey	8 percent
Condoleezza Rice	7 percent
Michelle Obama	3 percent
Margaret Thatcher	2 percent
Laura Bush	2 percent
Angelina Jolie	2 percent
Barbara Bush	1 percent
Madeleine Albright	1 percent
Ellen DeGeneres	1 percent

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Vanity Fair Windfall Report Is 49 Men, 1 Woman, and 1 Dog

SavvySugar — Thu, 06 Mar 2008 09:42:00 -0800

Vanity Fair just released their 2007 Windfall Report - a.k.a., the biggest paydays last year for the guys whose bank accounts hardly needed the boost. How did they get even richer, you ask? Their windfalls included cashing out stocks, receiving inheritances, selling a family business, real estate deals, or jumping on a lucrative initial public offering.

Bill Gates tops the list for selling $2.5 billion of his Microsoft shares and collecting another few hundred million in dividends. Bill-ion Gates, anyone? Coming in second is Peter Peterson (real name) whose windfall from the Blackstone I.P.O. earned him $1.9 billion practically overnight. Next they name the Chandler Family who got third place by selling the Tribune Co. for $1.7 billion.

Windfalls worth billions continue through number nine on the list of 50, and the smallest amount reported is $177 million. A notable observation about the report is that the only woman is Roxanne Quimby, who got her $185 million windfall when Clorox bought her company, Burt's Bees. Vanity Fair acknowledges that the $12 million inherited by Leona Helmsley's dog, Trouble, is a poochie windfall and gives the heir an honorable mention.

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News Flash: Money Is on Everybody's Mind

SavvySugar — Thu, 18 Sep 2008 04:00:21 -0700

Forbes released its 27th list of the Forbes 400 ranking the 400 richest Americans - you'll need at least $1.3 billion to join this club. Of course, Bill Gates made the list. - Forbes
Networking in a time of need: University of Chicago's Graduate School of Business called its alumni that were Lehman employees just one day after the bank filed for bankruptcy. - The Wall Street Journal
The federal government is considering forming a new agency to handle the mortgage-related assets that have crippled Wall Street. - The New York Times

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Link Time!

SavvySugar — Tue, 08 Jul 2008 11:08:34 -0700

Businessmen stereotypically fly in private jets, but those chartering jets are increasingly businesswomen focused on using their time efficiently. - The New York Times
Paying dues means more than working long hours and performing tasks that seem meaningless. It can be about spending time alone, figuring out who your true friends are, and overcoming your fears. - Employee Evolution
Donald Trump thinks the only thing better than a good handshake is no handshake at all. - The Trump Blog
In following his plan to donate most of his wealth, Warren Buffet has given away $2 billion in stock with the majority of shares going to the Bill and Melinda Gates Foundation. - CNN Money