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
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?
Xi's busy stop on the West Coast is the first leg of a week-long trip to the United States and offers him a chance to highlight China's cooperation with U.S. companies before he heads to Washington, where he will contend with the full spectrum of irritants in relations, from tension in the South China Sea to human rights. The Chinese leader started the day by publicly assuring U.S. business leaders that he is making it easier to invest in China, and he was later quizzed in a private session about intellectual property protection, common standards and clear, transparent regulations, according to the Paulson Institute, which hosted the event. "We are working to create a new open economic system, push forward reform of foreign investment management and greatly reduce the restrictions on foreign investment," Xi told the gathering of executives in Seattle, including Apple Inc Chief Executive Tim Cook and Berkshire Hathaway's Warren Buffett. "GM and Ford can increase their investment in … [Read more...] about China’s Xi promises better investment climate, cyber war deal seen
Mark Zuckerberg will put 99 percent of his Facebook Inc (FB.O) shares, currently worth about $45 billion, into a new philanthropy project focusing on human potential and equality, he and his wife said Tuesday in a letter to their newborn daughter. The plan, which was posted on the Facebook founder and chief executive officer's page, attracted more than 570,000 "likes," including from singer Shakira, former California Governor Arnold Schwarzenegger and Melinda Gates, wife of Microsoft founder Bill Gates. The Gates and other high-profile billionaires such as Warren Buffett have set up foundations of their own to dedicate their massive fortunes to philanthropic endeavors. Zuckerberg, 31, who will control the new initiative jointly with his wife, Priscilla Chan, while remaining in charge of the world's largest online social network, said he would sell or give up to $1 billion in shares in each of the next three years. Zuckerberg will keep a controlling stake in Facebook, valued at $303 … [Read more...] about Facebook’s CEO and wife to give 99 percent of shares to their new foundation