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Tag: bloomberg billionaires index

  • Alice Walton is the world’s richest woman — and may soon be worth $100 billion

    Alice Walton is the world’s richest woman — and may soon be worth $100 billion

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    • Alice Walton has overtaken Françoise Bettencourt Meyers as the world’s richest woman this year.

    • The Walmart and L’Oréal heiresses are worth $95 billion and $91 billion respectively, per Bloomberg.

    • Walton is close to passing the $100 billion mark and joining the elite club of centibillionaires.

    The heiress to the Walmart fortune has leapfrogged the L’Oréal heiress to become the world’s richest woman — and could soon cross $100 billion in net worth.

    Alice Walton, daughter of retail icon Sam Walton, is worth more than $95 billion for the first time, per the Bloomberg Billionaires Index. That’s due to Walmart’s stock price soaring 44% to a record high this year, which has fueled a $25 billion jump in her net worth over the same period.

    In contrast, Françoise Bettencourt Meyers — the granddaughter of Eugène Schueller, who founded the French cosmetics giant — has seen her wealth shrink by $9 billion this year to $91 billion. That reflects a 12% decline in L’Oréal shares since January.

    It was a different story at the end of last year, when Bettencourt-Meyers was worth $100 billion and Walton was worth only $70 billion.

    Bettencourt Meyers ranks 20th on Bloomberg’s rich list while Walton sits at 18th, just behind her two brothers, Jim ($98 billion) and Rob ($95.8 billion). The siblings each own more than 11% of Walmart, assuming their father evenly divided his shares in the company between his four children. They’ve also garnered more than $15 billion from stock sales and dividends over the years, Bloomberg estimates.

    Francoise Bettencourt Meyers sits on a chair in an outdoor garden

    Françoise Bettencourt Meyers in 2010.MARTIN BUREAU/AFP via Getty Images

    Meanwhile, Bettencourt Meyers has about 35% of the world’s largest cosmetics company, which owns brands including Garnier and Maybelline. She inherited the stake from her mother, Liliane, who died in 2017.

    If Walton’s wealth continues rising and breaches the $100 billion mark, she’ll join an elite club of centibillionaires that includes Elon Musk, Bill Gates, and Warren Buffett.

    Walton and Bettencourt Meyers are two of several heiresses near the top of Bloomberg’s list, including Jacqueline Badger Mars and Abigail Johnson, whose grandfathers founded Mars and Fidelity respectively.

    Read the original article on Business Insider

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  • Adelson Family to Buy Sports Team With $2 Billion Share Sale

    Adelson Family to Buy Sports Team With $2 Billion Share Sale

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    (Bloomberg) — Miriam Adelson, the widow of casino magnate Sheldon Adelson, is selling $2 billion of stock in Las Vegas Sands Corp. so the family can acquire a majority stake in an unidentified professional sports team.

    Most Read from Bloomberg

    The family already has a binding purchase agreement for a team, according to a regulatory filing Tuesday. The Adelsons will use the proceeds from the offering as well as cash on hand to purchase the team, “subject to customary league approvals.”

    A spokesperson for the company and the Adelsons declined to comment beyond the filing.

    Adelson, an Israeli-born physician, has led the family since her husband died in January 2021. Her son-in-law, Patrick Dumont, is president of Sands, which owns casinos in Singapore and Macau.

    Despite selling the flagship Venetian resort in Las Vegas to Apollo Global Management Inc. last year, the family retains close ties to America’s gambling capital. They own the Las Vegas Review-Journal newspaper and the company is still based there.

    According to the latest proxy statement, Adelson controls about 433 million shares of Sands, or more than 56% of the total outstanding. The stock being sold represents about 11% of those holdings.

    She is worth about $33 billion, according to the Bloomberg Billionaires Index.

    Shares of Sands were down 3.2% to $46.15 in extended trading after initially falling further.

    The shares are being marketed from $43 to $45.25 each, according to a term sheet seen by Bloomberg News. That range represents as much as a 10% discount to Las Vegas Sands’s share price of $47.66 at at Tuesday’s close, Bloomberg calculations show.

    Goldman Sachs Group Inc. and Bank of America Corp. are bookrunners on the sale.

    –With assistance from Amy Or.

    (Updates with holdings in sixth paragraph.)

    Most Read from Bloomberg Businessweek

    ©2023 Bloomberg L.P.

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  • An Indian is leading the world’s billionaire list in terms of wealth creation in 2022

    An Indian is leading the world’s billionaire list in terms of wealth creation in 2022

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    Gujarat’s very own Gautam Adani, the chairman and founder of the Indian multinational conglomerate Adani Group, outdid all the world’s top billionaires in terms of wealth creation in 2022 far. All thanks to the ongoing rally in the group’s stocks.

    With a rise of $59.1 billion year-to-date (YTD) in total net worth, the entrepreneur is the third richest individual in the world. His total net worth stood at $136 billion on November 11, 2022, according to the Bloomberg Billionaire index.

    On a year-to-date basis, shares of Adani Power have surged 261 per cent to Rs 360.10 from Rs 99.75 on December 31, 2021. It was followed by Adani Enterprises (up 135 per cent), Adani Total Gas (up 122 per cent), Adani Transmission (up 90 per cent), Adani Green Energy (up 65 per cent) and Adani Ports and Special Economic Zone (up 22 per cent). Adani Wilmar, which got listed on bourses in February 2022, has also rallied 193 so far against its issue price of Rs 230.

    Also read: Adani Enterprises, other 4 BSE 500 multibaggers report over 100% rise in Q2 net profit; should you buy?

    Other world’s billionaire

    Founder of Susquehanna International Group Jeff Yass, who is the world’s 31st richest individual, witnessed a rise of $29.6 billion in his total net worth in the ongoing calendar year, according to publicly available data. The world’s 20th richest Zhang Yiming and the world’s 95th richest Rodolphe Saade & family also see a rise of $10.4 billion and $4.49 billion, respectively, in their respective total net worth in 2022.

    On the other hand, the world’s richest individual Elon Musk’s total net worth tanked $86.60 billion to $184 billion on a year-to-date basis. The sharp fall came amid the selloff in Musk-owned Tesla shares. The share price of Tesla tanked over 52 per cent YTD.

    With a total net worth of $153 billion, the chairman of LVMH Moet Hennessy Louis Vuitton Bernard Arnault is the second richest individual globally. His net worth also plunged $24.8 billion in the ongoing calendar year-to-date. Among the other major top guns, Jeff Bezos, Bill Gates and Warren Buffett also witnessed a fall of $72.70 billion, $26.30 billion and $3.03 billion in their respective total net worth in 2022 so far.

    Besides Gautam Adani, India’s other businessmen such as the founder of Sun Pharmaceutical Industries’ Dilip Shangvi, chairman of telecom major Bharti Airtel. Sunil Mittal and founder and former chief executive officer of Eicher Motors, Vikram Lal also witnessed a growth of somewhere between $1 billion-$1.50 billion in their total net worth, the data showed.

    Other major industrialists including Reliance Industries chairman and managing director Mukesh Ambani, HCL Technologies’ Shiv Nadar and Wipro’s Azim Premji see a fall of $1 billion, $7.63 billion and $17.30 billion in their respective total net worth in the ongoing calendar year.

    Overall, the ongoing year stood highly tumultuous for the global business environment due to the ongoing geopolitical crisis between Ukraine and Russia and rising inflation which led to hikes in interest rates.

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