The number of billionaires in Vietnam has doubled from last year to four on Forbes magazine's recently released 2018 list of the world's richest people. Pham Nhat Vuong, owner of real estate conglomerate Vingroup and Vietnam's first billionaire, enjoyed his sixth consecutive appearance on the list, ranked as the world's 499th richest person this year. Vuong also retained his position as Vietnam's richest man with a net worth of $4.3 billion, a $1.9 billion increase compared to last year. CEO of budget carrier VietJet Air Nguyen Thi Phuong Thao also made her second appearance on the list as the 766th richest person in the world. Vietnam's richest woman has an estimated net worth of $3.1 billion, nearly three times her wealth when she made her debut appearance last year with $1.2 billion. Forbes magazine's list this year also includes Tran Ba Duong, chairman of Truong Hai Auto Corporation (Thaco), and Tran Dinh Long, chairman of Hoa Phat Corporation. From left to right: VietJet … [Read more...] about Vietnam’s billionaire count doubles to 4 on Forbes’ rich list
Companies owned by berkshire hathaway
VietNamNet Bridge – A lot of Vietnamese businessmen have set up their own investment companies through which they invest in other businesses. President of the Saigon Securities Incorporated Nguyen Duy Hung. Bill Gates, who tops the list of the rich, has the total assets worth VND76 billion, according to Forbes. However, the amount of shares he holds in Microsoft, the technology group he set up, just accounts for 1/5 of his total assets. The billionaire holds 338 million Microsoft’s shares on Nasdaq, worth $13 billion. The other parts of his assets lie in the investments made by Cascade Investment LLC, a company owned by Bill Gates and his family. The company now holds stakes in a lot of big enterprises, including Buffett’s Berkshire Hathaway, the Canadian National Railway Company, Coca Cola FEMSA, John Deere – an agriculture machine manufacturer. Cascade Investment also manages the $20 billion portfolio of the Bill & Melinda Gates … [Read more...] about Vietnamese tycoons follow Bill Gates’ investment model
PetroChina Co. (857), the oil producer that became the first $1 trillion company, is the target of a widening anti-corruption probe that threatens the biggest shakeup of China's oil industry in 15 years. Former Chairman Jiang Jiemin, who left PetroChina in March, was removed from his post as head of the state assets regulator and is under investigation, the official Xinhua News Agency said Sept. 2. Five days earlier, PetroChina said it removed four senior managers after authorities started a probe. The investigations add to the woes of a company that's lost more than $768 billion in value -- almost as much as the Dutch economy -- since 2007. The stock fell the most in two years on Aug. 28 in Hong Kong as the scrutiny adds risks to a business already weighed down by a slowing economy and government controls on fuel prices. "The probes and their possible escalation could potentially cause a huge reshuffle in PetroChina and its parent," said Laban Yu, a Hong Kong-based analyst at … [Read more...] about Graft probe threatens PetroChina as executives targeted
After shares in BYD, a Chinese car company backed by his Berkshire Hathaway, crashed without explanation earlier this month, Warren Buffett had reason to recall his famous adage about swimming naked when the tide rolls out. If it’s any consolation, the "Sage of Omaha" had plenty of company in Asia in 2014. As the year draws to a close, it's time to name and shame the companies, politicians and corporate emperors caught out looking distinctly undressed. Herewith, my second-annual Naked Awards: Leung Chun-ying: Hong Kong's chief executive may have won points with authorities in Beijing for staring down the months-long Occupy Central protests. But among his own people, Leung’s credibility is in tatters. The wildly unpopular and tin-eared leader wasn't helped by his daughter’s juvenile Facebook posts poking fun at the city's poor. But his own comments about the dangers of allowing less well-off Hong Kongers to choose their own leader will rankle far longer. Sony: Already … [Read more...] about In Asia, 2014’s biggest losers
In his most recent Berkshire Hathaway shareholder letter, the ever-folksy Warren Buffett sounds more like a personal finance guru than a financial mastermind, focusing on buy-and-hold investing and advocating indexing strategies. Buffett's net worth is about $60 billion, according to Forbes magazine, so he is obviously doing something right. But how sound is his advice for the rest of us? (here) I spoke to some financial advisers and pundits, some of whom are the kind of folks Buffett thinks you should ignore, to get their take. STAY PASSIVE, KEEP COSTS LOW What immediately caught my eye is Buffett's instruction that his wife back up the truck and invest in the Standard & Poor's 500 stock-index upon his death. That's not a huge surprise, though. Buffett is a longtime fan of Jack Bogle, founder of the Vanguard Group, who champions passive, low-cost investing. But this is the first time Buffett is "putting his money where his mouth is in his own estate," Bogle said in a email … [Read more...] about Will Warren Buffett’s investment advice work for you?