Monday, July 23, 2012
0 Money-Savers That Turn Into Money-Wasters
0 Money-Savers That Turn Into Money-Wasters
InvestopediaBy Michele Lerner | Investopedia – Sun, Jul 22, 2012 1:15 AM PHT
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Frugal living has become the mantra for people since the Great Recession started, although some consumers have been wisely frugal for their whole lives. However, all money-saving tips are not equal. Sure, taking your lunch to work and making your own coffee are quick ways to save $5 to $10 every weekday, but some other methods for saving your pennies could end up costing you more than you realize.
SEE: 3 Alternative Budgeting Styles: Which One Suits You?
Skimping on Insurance
Before you cancel your insurance policy, you need to think hard about the consequences. An uninsured injury or a damaged home could cost a lot more than the money you save on your insurance premiums. Raising your deductible could be a better way to save, but make sure you can really pay that deductible without incurring costly credit card debt.
Buying Things Just Because They're on Sale
Frugal shoppers live for sales and discount coupons, but don't get so caught up in the sale that you end up buying things you don't need. Stock up on items you really use when they're on sale, but never buy something you wouldn't purchase if it wasn't on sale. You'll end up with a houseful of unwanted items and then may not have the money available for something you really need.
Driving Extra for a Discount
Sometimes you can't see the forest because of the trees. If you are focused so much on saving a few pennies per gallon of gas, using a coupon at a distant store or finding a better price at a store 20 miles away defeats the purpose. Don't forget to calculate how much you are spending on the extra gas needed to get there. You're also adding miles to your possibly overworked car.
SEE: Ways To Save Money At The Pump
Skipping Car Maintenance
Car maintenance is one expense many people like to skip, but the lack of routine maintenance can end up costing hundreds or thousands of dollars in car repairs. You may even have to replace your damaged car.
Not Funding Your Retirement Account
If you're scrimping and living from paycheck to paycheck, the idea of skimming money off that check for a far-off retirement can be daunting. Think about this: if you put away a few dollars every two weeks for years, those dollars will eventually turn into thousands. Plus, you may be reducing your tax burden by using pre-tax dollars for the investments. If you have an employer who's matching your contributions you are throwing money away by not at least saving the maximum match amount.
Avoiding Regular Appointments
Just like your car, your body, your teeth and your eyes need routine maintenance. While no one likes medical or dental appointments, preventive visits can save you a bundle. That routine care can help you avoid expensive dental surgery and other serious illnesses that will cost you time and money.
Getting a Discount with a Store Credit Card
Stores love to offer deep discounts to shoppers who apply for a new credit card. They know that most people will then return to the store where they have a credit card for more purchases. On top of that, many people opt to pay only the minimum due. If you do that, the amount you'll pay in interest will typically offset the discount you received initially.
SEE: Understanding Credit Card Interest
Buying Cheap Items
Cheap clothes, cheap shoes, cheap hardware items and cheap electronics are all readily available, but if you find yourself replacing them often you may end up spending more money than if you had bought a good quality item in the first place. Your better choice is to look for good quality items on sale.
Living Cash Poor
If you try to save money by keeping only a small amount of cash in your wallet, you may end up wasting money on ATMs. If you go to your bank and avoid ATM fees, that's fine, but many people end up spending around $2 every few days to pull $20 out of their accounts.
Buying the Wrong Groceries
While bulk grocery shopping can seem like a great bargain, if you end up throwing away a pound of cheese that's gone bad, you've simply wasted money and food. Some people skip buying expensive fruits and vegetables, but they could pay for that later on because they'll need extra vitamins and possibly have health issues.
SEE: How To Save Money At The Grocery Store
The Bottom Line
While saving money on small things can add up to big benefits, make sure the initial savings won't result in unforeseen consequences in the long run.
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9 comments
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Angelie Descalsota
Angelie Descalsota • Manila, National Capital Region • 1 hour 53 minutes ago
Easy sa pag gamit ng credit cards para di mabaon sa utang :)
Anne
Anne • 3 hours ago
Wise consumers are not not money- wasters. Its all about your decision on what or whats not to buy in order to save money.
myself
myself • 1 hour 38 minutes ago
lol. Sakristang Hiphop at Lollipop, pop-up!!
Adrian
Adrian • 2 hours 47 minutes ago
Easy! dont buy any China Products and bingo you wont waste a single penny in your pocket!
Myco Gem
Myco Gem • Davao City, Davao Region • 3 hours ago
Buying Cheap Items
In other words...avoid China products...Buy Pinoy instead! :)
Myco Gem
Myco Gem 2 hours 20 minutes ago
Beware my fake Bagoong na rin. Made in China..hahaha
Silentpunk
Silentpunk 3 hours ago
@aling--hahaha muntik q ng mabuga ung tubig na iniinom q eh.. hehehe
Aling
Aling 3 hours ago
Eat bagoong all day long
More
Reply
Abdul Jakul bin Salsal al ...
Abdul Jakul bin Salsal al ... • 3 hours ago
Credit Cards are invented by the banks to lure unsuspecting people to use it conveniently but with the added high interest rate. Just pay all the balance before your due date and you have outsmarted the bank. Also, do not choose CC companies that charge annual fees and other miscellaneous fees.
Tee Tiko
Tee Tiko • Manila, National Capital Region • 4 hours ago
credit cards are the most wasteful financial instrument created by man
johnny cage
johnny cage • 2 hours 11 minutes ago
buy only the things you need....
SIR HANDSOME
SIR HANDSOME • 17 minutes ago
Bottom line, be wise!
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Monday, April 11, 2011
job addresses
Interested parties may also drop their resume in person, Monday to Friday (8:00am to 2:00 pm) or send letter of application, resume with 2x2 colored picture, diploma and transcript of records to: The Human Resource Department - ISOPHARMA, INC. G/F JM Business Center, Osmeña Highway corner Rockefeller St., Makati City Email Address: hrd@isopharma.com.ph Tel # 889-9496 to 97 * Fax # 844-70-43
Friday, April 1, 2011
pgmc_hrd@yahoo.com- teller
Interested parties are requested to submit Cover Letter, updated and comprehensive resume with salary expectation and recent ID picture and other credentials at:
Boie Incorporated
520 Alabang-Zapote Road Almanza Uno,
Las Pinas City 1750
email: boie_recruit@yahoo.com
NOTE: If applying via email, please indicate Code:MSR in your subject line. We will only respond to qualified candidates.
Previous applicants need not apply.
Please E-MAIL your resume w/ passport size picture and a scanned copy of your transcript of records to info@eastlane.net or SEND to: EAST LANE CORPORATION, 2nd Floor BDO Ortigas-Roosevelt Building 2, Ortigas cor Roosevelt St., Greenhills, San Juan City. Interviewees will be contacted for appointment.
Interested parties are requested to submit Cover Letter, updated and comprehensive resume with salary expectation and recent ID picture and other credentials at:
Boie Incorporated
520 Alabang-Zapote Road Almanza Uno,
Las Pinas City 1750
email: boie_recruit@yahoo.com
NOTE: If applying via email, please indicate Code:MSR in your subject line. We will only respond to qualified candidates.
Previous applicants need not apply.
Please E-MAIL your resume w/ passport size picture and a scanned copy of your transcript of records to info@eastlane.net or SEND to: EAST LANE CORPORATION, 2nd Floor BDO Ortigas-Roosevelt Building 2, Ortigas cor Roosevelt St., Greenhills, San Juan City. Interviewees will be contacted for appointment.
Thursday, March 10, 2011
22 inches tall Philippines teen to be crowned world's shortest man
22 inches tall Philippines teen to be crowned world's shortest man
By ANI | ANI – Thu, Mar 10, 2011 1:25 PM PHT
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London, March 10 (ANI): A 17-year-old teenager in Philippines, who might only be slightly taller than a glass bottle, is all set to break big world records.
Junrey Balawing will soon be crowned the world's smallest man, standing at a mere 22 inches.
The minuscule man from Zamboanga del Norte is just the same size as a one-year-old.
And when he celebrates his 18th birthday in June he is expected to shave five inches of the current Guinness World Record.
He struggles to walk and can't stand for long, but he looks forward to wearing the crown with pride.
'If I were the smallest man in the world, it would be very cool," the Daily Mail quoted him as saying
His mother, Concepcion, 35, says she noticed something was wrong as Junrey approached the age of two but no doctor was able to help.
"He was always sick and we noticed he wasn't growing so we took him to see a doctor but they were baffled," she said.
When Junrey was 12 the family took him back to the doctor but their only advice was to take more vitamins, which the family couldn't afford.
"I would love to be able to work while my other children are at school but I can't leave Junrey. He needs my care every minute of every day.
"Junrey can only walk with some help and he can't stand for too long because he's in too much pain. But he loves it when I tell him he's the smallest man in the world, he just smiles with pride," she added.
Based on the Guinness Book of Records, the current smallest man in the world is 24-year-old Niqo Hernandez of Colombia, standing at 27 inches. (ANI)
By ANI | ANI – Thu, Mar 10, 2011 1:25 PM PHT
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Share
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London, March 10 (ANI): A 17-year-old teenager in Philippines, who might only be slightly taller than a glass bottle, is all set to break big world records.
Junrey Balawing will soon be crowned the world's smallest man, standing at a mere 22 inches.
The minuscule man from Zamboanga del Norte is just the same size as a one-year-old.
And when he celebrates his 18th birthday in June he is expected to shave five inches of the current Guinness World Record.
He struggles to walk and can't stand for long, but he looks forward to wearing the crown with pride.
'If I were the smallest man in the world, it would be very cool," the Daily Mail quoted him as saying
His mother, Concepcion, 35, says she noticed something was wrong as Junrey approached the age of two but no doctor was able to help.
"He was always sick and we noticed he wasn't growing so we took him to see a doctor but they were baffled," she said.
When Junrey was 12 the family took him back to the doctor but their only advice was to take more vitamins, which the family couldn't afford.
"I would love to be able to work while my other children are at school but I can't leave Junrey. He needs my care every minute of every day.
"Junrey can only walk with some help and he can't stand for too long because he's in too much pain. But he loves it when I tell him he's the smallest man in the world, he just smiles with pride," she added.
Based on the Guinness Book of Records, the current smallest man in the world is 24-year-old Niqo Hernandez of Colombia, standing at 27 inches. (ANI)
World’s Billionaires 2011
World’s Billionaires 2011
BRIC countries surge; Carlos Slim widens lead atop list.
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Luisa Kroll and Kerry A. Dolan, On Thursday 10 March 2011, 9:18 SGT
This 25th year of tracking global wealth was one to remember. The 2011 Billionaires List breaks two records: total number of listees (1,210) and combined wealth ($4.5 trillion). This horde surpasses the gross domestic product of Germany, one of only six nations to have fewer billionaires this year. BRICs led the way: Brazil, Russia, India and China produced 108 of the 214 new names. These four nations are home to one in four members, up from one in 10 five years ago. Before this year only the U.S. had ever produced more than 100 billionaires. China now has 115 and Russia 101.
Atop the heap is Mexico's Carlos Slim Helú, who added $20.5 billion to his fortune, more than any other billionaire. The telecom mogul, who gets 62% of his fortune from America Movil (NYSE: AMX - News), is now worth $74 billion and has pulled far ahead of his two closest rivals. Bill Gates, No. 2, and Warren Buffett, No. 3, both added a more modest $3 billion to their piles and are now worth $56 billion and $50 billion, respectively. Gates, who now gets 70% of his fortune from investments outside of Microsoft (Nasdaq: MSFT - News), has actually been investing in the Mexican stock market and has holdings in Mexican Coke bottler Femsa and Grupo Televisa (NYSE: TV - News).
While nearly all emerging markets showed solid gains, wealth creation is moving at an especially breakneck speed in Asia-Pacific. The region now has a record 332 billionaires, up from 234 a year ago and 130 at the depth of the financial crisis in 2009. Sizzling stock markets are behind the surge. Three-fourths of Asia's 105 newcomers get the bulk of their fortunes from stakes in publicly traded companies, 25 of which have been public only since the start of 2010.
America's wealthiest still dominate the global ranks, but the U.S. is losing its grip. One in three billionaires is an American, down from nearly one out of two a decade ago. It has 10 more than last year but 56 fewer than its 2008 peak. The U.S. is adding new billionaires at a much slower pace; just 6% of its 413 billionaires are new this year compared with 47% of China's and 30% of Russia's.
Still there are plenty of inspiring newcomers who figured out clever ways to get rich. The most obvious example is the success of Facebook, whose soaring valuation over the past couple of years — based on the most recent institutional round the company is worth $50 billion — has spawned six billionaires. Leading the group is Facebook's CEO Mark Zuckerberg, whose fortune jumped 238% to $13.5 billion in the past year. Also joining him in the world ranks are his cofounders Eduardo Saverin and Dustin Moskovitz, its first president Sean Parker (played by Justin Timberlake in "The Social Network") and the Russian Internet investor Yuri Milner. Moskovitz, 26, is eight days younger than his former college roommate Zuckerberg, making him the world's youngest billionaire.
The frenzy among big investors for all things social pushed up private market values of online gaming outfit Zynga and online group-buying site Groupon, creating two more new billionaires, Mark Pincus (who taught people to farm on Facebook) and Eric Lefkofsky (who was Groupon's lead investor).
Other notable American newcomers include Do Won and Jin Sook Chang, the cofounders of Forever21, and Chris Cline, who owns 3 billion tons of coal reserves, mostly in Illinois.
Why do we spend so much time counting other people's money? Because these moguls have the power to shape our world. Telecom billionaire turned prime minister Najib Mikati is keeping Lebanon's government together. Ernesto Bertarelli, who lost the America's Cup to Larry Ellison last year, is now focusing on saving the oceans from mass extinction. Gates and Buffett have already traveled to three continents working to change giving practices among the ultra-rich.
Where their inspiration leads, we will follow.
A note on methodology: More than 50 reporters in 13 countries worked on compiling the list this year, valuing individuals' public holdings, private companies, real estate, yachts, art and cash. Net worths were locked in using stock prices and exchange rates from Feb. 14.
The Top 10 Billionaires in the World
1-carlos-slim-helu.jpg Chris Goodney/Bloomberg via Getty Images
No. 1 Carlos Slim Helú & family
Net Worth: $74 billion ↑
Source: Telecom
Citizenship: Mexico
The world's richest person for a second year in a row, the Mexican telecom mogul is also the year's biggest gainer, having added $20.5 billion to his fortune and widened the gap between him and No. 2, Microsoft cofounder Bill Gates, to $18 billion. A 19% rise in the Mexican stock market, a stronger peso, and successful mining and real estate spinoffs from conglomerate Grupo Carso all contributed to the astonishing increase. He also merged his fixed-line telecom company into America Movil, Latin America's largest wireless carrier; the Slim family stake in that holding accounts for 62% of his net worth. He has other holdings in retailer Saks and the New York Times. Recently unveiled a new building for his Soumaya Museum, which houses his vast art collection. It is open to the public for free.
2-bill-gates.jpg Jin Lee/Bloomberg via Getty Images
No. 2 Bill Gates
Net Worth: $56 billion ↑
Source: Microsoft
Citizenship: U.S.
Microsoft mogul, futurist and America's richest person has, with help from billionaire buddy Warren Buffett, convinced nearly 60 of the world's wealthiest to sign his "Giving Pledge," promising to donate the majority of their wealth to charity either during their lifetime or after death. He is no longer the planet's richest person, but that's because he's given away $30 billion to his foundation. The Gates Foundation, the world's most influential charity, tackles tuberculosis and polio and funds famine-resistant crops to fight hunger. He is calling for a higher sense of urgency in AIDS vaccine development and also pushing for better tools to rate teacher performance. Gates holds 70% of his wealth in investment fund Cascade, dabbling in everything from autos to hedge funds to Mexican Coke bottler Femsa; the rest of his wealth is held in Microsoft stock.
3-warren-buffett.jpg Jemal Countess/Getty Images
No. 3 Warren Buffett
Net Worth: $50 billion ↑
Source: Berkshire Hathaway
Citizenship: U.S.
The venerable investor's Berkshire Hathaway climbed more than 15% over the last year, adding $3 billion to his fortune. The 80-year-old is still hunting big deals:
"Our elephant gun has been reloaded, and my trigger finger is itchy." Along with bridge partner Bill Gates, the Oracle of Omaha is coaxing America's richest to pledge half their fortunes to charity. "Too often a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse and long-standing friends." Buffett faked breathing problems when he was 12 so he could move back to Omaha from Washington, D.C., where his father was a freshman congressman. He had read every book about investing in stocks in the Omaha Public Library by the time he was 12. He met value investor Benjamin Graham at Columbia; bought textile firm Berkshire Hathaway in 1965, and transformed it into massive holding company: food, insurance, utilities, industrials. Buffett acquired railroad giant Burlington Northern Santa Fe for $26 billion in 2009.
4-bernard-arnault.jpg Eric Piermont/AFP/Getty Images
No. 4 Bernard Arnault
Net Worth: $41 billion ↑
Source: LVMH
Citizenship: France
The Lord of Luxe easily retains title of richest European. Fortune surged by $13.5 billion as shares of his luxury goods outfit, LVMH, rose by more than half over the past year thanks to strong demand for luxuries like Dom Perignon champagne, Cognac Hennessy, Tag Heuer watches and Louis Vuitton accessories, particularly in Asian markets like Shanghai and Ho Chi Minh City. The group acquired 20% of Hermes last year; Arnault insists he is a friendly shareholder but Hermes sees it as hostile. In March the Bulgari family transferred its majority holding in its brand to LVMH in exchange for LVMH shares and board seats. LVMH fired Christian Dior designer John Galliano after he apparently made anti-Semitic remarks. Renaissance man also owns yacht builder Royal Van Lent, a hotel in Courchevel; has stakes in French retailer Carrefour and French tour operator Go Voyages.
5-larry-ellison.jpg ZUMA Press/Newscom
No. 5 Larry Ellison
Net Worth: $39.5 billion ↑
Source: Oracle
Citizenship: U.S.
The Oracle chief sits atop a fortune that is $11.5 billion bigger than last year thanks to a 30% jump in the software company's shares. In November Oracle won a mud-slinging copyright infringement court battle against German software rival SAP worth $1.3 billion. SAP is contesting the outcome. Oracle has acquired 75 companies over the years worth $40 billion, and figured out a way to turn a profit on its latest big buy, Sun Microsystems, in 2010. One of the highest-paid executives in the U.S., Ellison reaped $960 million in compensation in the past five fiscal years, mostly from exercising stock options; he recently cut his salary to $1. An avid yachtsman, Ellison spent a decade and over $100 million on his quest for the America's Cup, which he finally won in February 2010, beating Swiss rival (and billionaire) Ernesto Bertarelli. He is bringing the America's Cup to San Francisco in 2013. Intends to give 95% of wealth to charity.
6-lakshmi-mittal.jpg Lefteris Pitarakis/AP Photo
No. 6 Lakshmi Mittal
Net Worth: $31.1 billion ↑
Source: Steel
Citizenship: India
Net profits at his ArcelorMittal, world's largest steelmaker, were up 18-fold to $2.9 billion in 2010 due to recovery in steel demand and higher margins. Group spun off its stainless steel unit into Aperam, a new listed company, and also acquired Canadian miner Baffinland Iron Mines. Funding a 377-foot sculpture called ArcelorMittal Orbit in London's Olympic Park for the 2012 Olympics. Europe's richest resident who lives in London, he bought Alderbrook Park, a 340-acre country estate outside of the city, where he plans to build an eco-friendly country mansion for a reported $40 million. Daughter Vanisha acquired stake in Roc Capital Management, a New York hedge fund. Daughter-in-law Megha owns German fashion house Escada.
7-amancio-ortega.jpg Cabalar/EFE/Newscom
No. 7 Amancio Ortega
Net Worth: $31 billion ↑
Source: Zara
Citizenship: Spain
Amancio Ortega stepped down as chairman of Inditex, the $15.8 billion (sales) fashion company, in January; he still gets 87% of his fortune from his stake in the publicly traded firm. The company, which operates under several brand names including Zara, Massimo Dutti and Stradivarius, has 5,000 stores in 77 countries.
More at Forbes.com:
• The 20 Richest People in the World
• The World's Youngest Billionaires 2011
• Notable Newcomer Billionaires 2011
Ortega also owns properties in Florida, Madrid, London and Lisbon, a horse-jumping circuit, a stake in a soccer league; and has interests in gas, tourism and banks. Railway worker's son, he started as a gofer in a shirt store. With then-wife Rosalia Mera, also a billionaire, started making dressing gowns and lingerie in living room. Daughter Marta works for Inditex.
8-Eike-Batista.jpg Newscom
No. 8 Eike Batista
Net Worth: $30 billion ↑
Source: Mining, oil
Citizenship: Brazil
Brazil's richest man is gearing up to take over the world. Making a play for foreign investors, Batista announced this year the opening of an office in New York and his intention to list some of his companies on the London Stock Exchange. Through his holding company, EBX, Batista controls businesses spanning mining, shipbuilding, energy, logistics, tourism and entertainment. After months of discussions, he was triumphant in February in taking control of Canadian gold outfit Ventana. Two-thirds of his fortune comes from OGX, the oil and gas exploration company he founded in 2007 and took public a year later. He says the company will start producing oil this year. In rare recent setback, his planned IPO for his shipbuilding business (OSX), meant to be the world's largest IPO in 2010, was a disappointment and has had a lukewarm reception in the Brazilian market. The son of Brazil's revered former mining minister, who presided over mining giant Companhia Vale do Rio Doce, got his start in gold trading and mining. Onetime champion offshore powerboat racer; formerly married to Playboy cover girl. In media interviews he's been warning Carlos Slim Helú that he'll soon take his spot as the world's richest man, but he still has a ways to go.
9-mukesh-ambani.jpg Rajanish Kakade/AP Photo
No. 9 Mukesh Ambani
Net Worth: $27 billion ↓
Source: Petrochemicals
Citizenship: India
His oil and gas conglomerate Reliance Industries, India's most valuable company, just forged a partnership with BP, selling 30% stake in 23 oil blocks in India for $7.2 billion and forming a marketing joint venture. The deal is being touted as one of biggest foreign investments in India. He's also betting on shale gas, having bought stakes in three American energy firms for $3.3 billion last year. He and wife Nita host parties at their recently completed 27-story sky palace in Mumbai, but have yet to move in permanently.
10-christy-walton.jpg L. Matthew Bowler
No. 10 Christy Walton & family
Net Worth: $26.5 billion ↑
Source: Wal-Mart
Citizenship: U.S.
Widow of John Walton inherited her wealth after the former Green Beret and Vietnam War medic died in an airplane accident near his home in Wyoming in 2005. Now world's richest woman, she got an extra bump in her fortune because of her late husband's early investment in First Solar; shares up nearly 500% since 2006 initial public offering. But bulk still comes from her holdings in Wal-Mart, the retailer founded by her father-in-law Sam Walton and his brother James in 1962. Today Wal-Mart has sales of $405 billion, and employs more than 2.1 million people. The philanthropist supports museums, education and organic gardening.
BRIC countries surge; Carlos Slim widens lead atop list.
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Luisa Kroll and Kerry A. Dolan, On Thursday 10 March 2011, 9:18 SGT
This 25th year of tracking global wealth was one to remember. The 2011 Billionaires List breaks two records: total number of listees (1,210) and combined wealth ($4.5 trillion). This horde surpasses the gross domestic product of Germany, one of only six nations to have fewer billionaires this year. BRICs led the way: Brazil, Russia, India and China produced 108 of the 214 new names. These four nations are home to one in four members, up from one in 10 five years ago. Before this year only the U.S. had ever produced more than 100 billionaires. China now has 115 and Russia 101.
Atop the heap is Mexico's Carlos Slim Helú, who added $20.5 billion to his fortune, more than any other billionaire. The telecom mogul, who gets 62% of his fortune from America Movil (NYSE: AMX - News), is now worth $74 billion and has pulled far ahead of his two closest rivals. Bill Gates, No. 2, and Warren Buffett, No. 3, both added a more modest $3 billion to their piles and are now worth $56 billion and $50 billion, respectively. Gates, who now gets 70% of his fortune from investments outside of Microsoft (Nasdaq: MSFT - News), has actually been investing in the Mexican stock market and has holdings in Mexican Coke bottler Femsa and Grupo Televisa (NYSE: TV - News).
While nearly all emerging markets showed solid gains, wealth creation is moving at an especially breakneck speed in Asia-Pacific. The region now has a record 332 billionaires, up from 234 a year ago and 130 at the depth of the financial crisis in 2009. Sizzling stock markets are behind the surge. Three-fourths of Asia's 105 newcomers get the bulk of their fortunes from stakes in publicly traded companies, 25 of which have been public only since the start of 2010.
America's wealthiest still dominate the global ranks, but the U.S. is losing its grip. One in three billionaires is an American, down from nearly one out of two a decade ago. It has 10 more than last year but 56 fewer than its 2008 peak. The U.S. is adding new billionaires at a much slower pace; just 6% of its 413 billionaires are new this year compared with 47% of China's and 30% of Russia's.
Still there are plenty of inspiring newcomers who figured out clever ways to get rich. The most obvious example is the success of Facebook, whose soaring valuation over the past couple of years — based on the most recent institutional round the company is worth $50 billion — has spawned six billionaires. Leading the group is Facebook's CEO Mark Zuckerberg, whose fortune jumped 238% to $13.5 billion in the past year. Also joining him in the world ranks are his cofounders Eduardo Saverin and Dustin Moskovitz, its first president Sean Parker (played by Justin Timberlake in "The Social Network") and the Russian Internet investor Yuri Milner. Moskovitz, 26, is eight days younger than his former college roommate Zuckerberg, making him the world's youngest billionaire.
The frenzy among big investors for all things social pushed up private market values of online gaming outfit Zynga and online group-buying site Groupon, creating two more new billionaires, Mark Pincus (who taught people to farm on Facebook) and Eric Lefkofsky (who was Groupon's lead investor).
Other notable American newcomers include Do Won and Jin Sook Chang, the cofounders of Forever21, and Chris Cline, who owns 3 billion tons of coal reserves, mostly in Illinois.
Why do we spend so much time counting other people's money? Because these moguls have the power to shape our world. Telecom billionaire turned prime minister Najib Mikati is keeping Lebanon's government together. Ernesto Bertarelli, who lost the America's Cup to Larry Ellison last year, is now focusing on saving the oceans from mass extinction. Gates and Buffett have already traveled to three continents working to change giving practices among the ultra-rich.
Where their inspiration leads, we will follow.
A note on methodology: More than 50 reporters in 13 countries worked on compiling the list this year, valuing individuals' public holdings, private companies, real estate, yachts, art and cash. Net worths were locked in using stock prices and exchange rates from Feb. 14.
The Top 10 Billionaires in the World
1-carlos-slim-helu.jpg Chris Goodney/Bloomberg via Getty Images
No. 1 Carlos Slim Helú & family
Net Worth: $74 billion ↑
Source: Telecom
Citizenship: Mexico
The world's richest person for a second year in a row, the Mexican telecom mogul is also the year's biggest gainer, having added $20.5 billion to his fortune and widened the gap between him and No. 2, Microsoft cofounder Bill Gates, to $18 billion. A 19% rise in the Mexican stock market, a stronger peso, and successful mining and real estate spinoffs from conglomerate Grupo Carso all contributed to the astonishing increase. He also merged his fixed-line telecom company into America Movil, Latin America's largest wireless carrier; the Slim family stake in that holding accounts for 62% of his net worth. He has other holdings in retailer Saks and the New York Times. Recently unveiled a new building for his Soumaya Museum, which houses his vast art collection. It is open to the public for free.
2-bill-gates.jpg Jin Lee/Bloomberg via Getty Images
No. 2 Bill Gates
Net Worth: $56 billion ↑
Source: Microsoft
Citizenship: U.S.
Microsoft mogul, futurist and America's richest person has, with help from billionaire buddy Warren Buffett, convinced nearly 60 of the world's wealthiest to sign his "Giving Pledge," promising to donate the majority of their wealth to charity either during their lifetime or after death. He is no longer the planet's richest person, but that's because he's given away $30 billion to his foundation. The Gates Foundation, the world's most influential charity, tackles tuberculosis and polio and funds famine-resistant crops to fight hunger. He is calling for a higher sense of urgency in AIDS vaccine development and also pushing for better tools to rate teacher performance. Gates holds 70% of his wealth in investment fund Cascade, dabbling in everything from autos to hedge funds to Mexican Coke bottler Femsa; the rest of his wealth is held in Microsoft stock.
3-warren-buffett.jpg Jemal Countess/Getty Images
No. 3 Warren Buffett
Net Worth: $50 billion ↑
Source: Berkshire Hathaway
Citizenship: U.S.
The venerable investor's Berkshire Hathaway climbed more than 15% over the last year, adding $3 billion to his fortune. The 80-year-old is still hunting big deals:
"Our elephant gun has been reloaded, and my trigger finger is itchy." Along with bridge partner Bill Gates, the Oracle of Omaha is coaxing America's richest to pledge half their fortunes to charity. "Too often a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse and long-standing friends." Buffett faked breathing problems when he was 12 so he could move back to Omaha from Washington, D.C., where his father was a freshman congressman. He had read every book about investing in stocks in the Omaha Public Library by the time he was 12. He met value investor Benjamin Graham at Columbia; bought textile firm Berkshire Hathaway in 1965, and transformed it into massive holding company: food, insurance, utilities, industrials. Buffett acquired railroad giant Burlington Northern Santa Fe for $26 billion in 2009.
4-bernard-arnault.jpg Eric Piermont/AFP/Getty Images
No. 4 Bernard Arnault
Net Worth: $41 billion ↑
Source: LVMH
Citizenship: France
The Lord of Luxe easily retains title of richest European. Fortune surged by $13.5 billion as shares of his luxury goods outfit, LVMH, rose by more than half over the past year thanks to strong demand for luxuries like Dom Perignon champagne, Cognac Hennessy, Tag Heuer watches and Louis Vuitton accessories, particularly in Asian markets like Shanghai and Ho Chi Minh City. The group acquired 20% of Hermes last year; Arnault insists he is a friendly shareholder but Hermes sees it as hostile. In March the Bulgari family transferred its majority holding in its brand to LVMH in exchange for LVMH shares and board seats. LVMH fired Christian Dior designer John Galliano after he apparently made anti-Semitic remarks. Renaissance man also owns yacht builder Royal Van Lent, a hotel in Courchevel; has stakes in French retailer Carrefour and French tour operator Go Voyages.
5-larry-ellison.jpg ZUMA Press/Newscom
No. 5 Larry Ellison
Net Worth: $39.5 billion ↑
Source: Oracle
Citizenship: U.S.
The Oracle chief sits atop a fortune that is $11.5 billion bigger than last year thanks to a 30% jump in the software company's shares. In November Oracle won a mud-slinging copyright infringement court battle against German software rival SAP worth $1.3 billion. SAP is contesting the outcome. Oracle has acquired 75 companies over the years worth $40 billion, and figured out a way to turn a profit on its latest big buy, Sun Microsystems, in 2010. One of the highest-paid executives in the U.S., Ellison reaped $960 million in compensation in the past five fiscal years, mostly from exercising stock options; he recently cut his salary to $1. An avid yachtsman, Ellison spent a decade and over $100 million on his quest for the America's Cup, which he finally won in February 2010, beating Swiss rival (and billionaire) Ernesto Bertarelli. He is bringing the America's Cup to San Francisco in 2013. Intends to give 95% of wealth to charity.
6-lakshmi-mittal.jpg Lefteris Pitarakis/AP Photo
No. 6 Lakshmi Mittal
Net Worth: $31.1 billion ↑
Source: Steel
Citizenship: India
Net profits at his ArcelorMittal, world's largest steelmaker, were up 18-fold to $2.9 billion in 2010 due to recovery in steel demand and higher margins. Group spun off its stainless steel unit into Aperam, a new listed company, and also acquired Canadian miner Baffinland Iron Mines. Funding a 377-foot sculpture called ArcelorMittal Orbit in London's Olympic Park for the 2012 Olympics. Europe's richest resident who lives in London, he bought Alderbrook Park, a 340-acre country estate outside of the city, where he plans to build an eco-friendly country mansion for a reported $40 million. Daughter Vanisha acquired stake in Roc Capital Management, a New York hedge fund. Daughter-in-law Megha owns German fashion house Escada.
7-amancio-ortega.jpg Cabalar/EFE/Newscom
No. 7 Amancio Ortega
Net Worth: $31 billion ↑
Source: Zara
Citizenship: Spain
Amancio Ortega stepped down as chairman of Inditex, the $15.8 billion (sales) fashion company, in January; he still gets 87% of his fortune from his stake in the publicly traded firm. The company, which operates under several brand names including Zara, Massimo Dutti and Stradivarius, has 5,000 stores in 77 countries.
More at Forbes.com:
• The 20 Richest People in the World
• The World's Youngest Billionaires 2011
• Notable Newcomer Billionaires 2011
Ortega also owns properties in Florida, Madrid, London and Lisbon, a horse-jumping circuit, a stake in a soccer league; and has interests in gas, tourism and banks. Railway worker's son, he started as a gofer in a shirt store. With then-wife Rosalia Mera, also a billionaire, started making dressing gowns and lingerie in living room. Daughter Marta works for Inditex.
8-Eike-Batista.jpg Newscom
No. 8 Eike Batista
Net Worth: $30 billion ↑
Source: Mining, oil
Citizenship: Brazil
Brazil's richest man is gearing up to take over the world. Making a play for foreign investors, Batista announced this year the opening of an office in New York and his intention to list some of his companies on the London Stock Exchange. Through his holding company, EBX, Batista controls businesses spanning mining, shipbuilding, energy, logistics, tourism and entertainment. After months of discussions, he was triumphant in February in taking control of Canadian gold outfit Ventana. Two-thirds of his fortune comes from OGX, the oil and gas exploration company he founded in 2007 and took public a year later. He says the company will start producing oil this year. In rare recent setback, his planned IPO for his shipbuilding business (OSX), meant to be the world's largest IPO in 2010, was a disappointment and has had a lukewarm reception in the Brazilian market. The son of Brazil's revered former mining minister, who presided over mining giant Companhia Vale do Rio Doce, got his start in gold trading and mining. Onetime champion offshore powerboat racer; formerly married to Playboy cover girl. In media interviews he's been warning Carlos Slim Helú that he'll soon take his spot as the world's richest man, but he still has a ways to go.
9-mukesh-ambani.jpg Rajanish Kakade/AP Photo
No. 9 Mukesh Ambani
Net Worth: $27 billion ↓
Source: Petrochemicals
Citizenship: India
His oil and gas conglomerate Reliance Industries, India's most valuable company, just forged a partnership with BP, selling 30% stake in 23 oil blocks in India for $7.2 billion and forming a marketing joint venture. The deal is being touted as one of biggest foreign investments in India. He's also betting on shale gas, having bought stakes in three American energy firms for $3.3 billion last year. He and wife Nita host parties at their recently completed 27-story sky palace in Mumbai, but have yet to move in permanently.
10-christy-walton.jpg L. Matthew Bowler
No. 10 Christy Walton & family
Net Worth: $26.5 billion ↑
Source: Wal-Mart
Citizenship: U.S.
Widow of John Walton inherited her wealth after the former Green Beret and Vietnam War medic died in an airplane accident near his home in Wyoming in 2005. Now world's richest woman, she got an extra bump in her fortune because of her late husband's early investment in First Solar; shares up nearly 500% since 2006 initial public offering. But bulk still comes from her holdings in Wal-Mart, the retailer founded by her father-in-law Sam Walton and his brother James in 1962. Today Wal-Mart has sales of $405 billion, and employs more than 2.1 million people. The philanthropist supports museums, education and organic gardening.
Monday, January 31, 2011
Human Resources Department
The Elizabeth Hotel
24 Mount Elizabeth
Singapore 228518
Email: hr@theelizabeth.com.sg
TRIANON INTERNATIONAL, INC.
Suite 503 Narra Building, 2276 Pasong Tamo Extension Makati City
Tels #: 892-0723 / 892-0724 Fax # 892-8514
Email: hr.trianongroup@gmail.comor hr@fame.ph
INTERVIEW DATE WILL BE ON FEBRUARY 25, 2011
Please contact Ms. Hazel / Ms. Joy / Ms. Margaret
Address: 1636 F. Agoncillo St. Malate Manila
Telephone No: 525-1031 Loc. 108
taiwan2@grandplacement.com
The Elizabeth Hotel
24 Mount Elizabeth
Singapore 228518
Email: hr@theelizabeth.com.sg
TRIANON INTERNATIONAL, INC.
Suite 503 Narra Building, 2276 Pasong Tamo Extension Makati City
Tels #: 892-0723 / 892-0724 Fax # 892-8514
Email: hr.trianongroup@gmail.comor hr@fame.ph
INTERVIEW DATE WILL BE ON FEBRUARY 25, 2011
Please contact Ms. Hazel / Ms. Joy / Ms. Margaret
Address: 1636 F. Agoncillo St. Malate Manila
Telephone No: 525-1031 Loc. 108
taiwan2@grandplacement.com
Monday, January 24, 2011
Jerry Yan, nabighani kay Frencheska!
Jerry Yan, nabighani kay Frencheska!
Ni ABU TILAMZIK
Excited naman si Frencheska Farr sa pagkukuwento sa amin sa Party Pilipinas kahapon na very memorable daw sa kanya ang karanasan niya sa pagtanggap niya ng Asian Female Model Award sa Seoul, Korea nu’ng nakaraang linggo.
Sa Pilipinas ay sila nga ni Aljur ang binigyan ng modeling award na iyun at tuwang-tuwa itong nakasabay raw niya sa event na iyun ang Chinovela actors na sina Jerry Yan at si Cholo ng Stairway to Heaven.
Pinakanta raw kasi si Francheska sa modeling competition at kahit hindi raw nila naintindihan ang kinanta ay nagustuhan daw ito ng mga nandu’n lalo na ang mga Koreano na sumabay-sabay pa sa pag-indak habang kumakanta ito.
Medyo mailap nga raw si Jerry Yan sa mga gustong magpalitrato pero nang hinabol daw ito ni Frencheska at nagpakilalang isa siyang Pinay ay kaagad na nagpalitrato raw itong sikat na Taiwanese actor.
Kuwento ni Aljur sa amin, ang tagal daw na nakatitig si Jerry kay Frencheska at parang nabighani nga raw ito sa ganda ng young singer/actress pero nahihiya naman si Frencheska na pag-usapan iyun.
Basta ang importante nakapagpa-picture daw siya kay Jerry Yan.
Nagpapasalamat si Frencheska sa GMA 7 at higit sa lahat kay Ms. Ida Henares dahil sa magandang break na naibigay sa kanya at nakuha pa niya ang award na iyun sa Korea.
May isinali rin pala ang GMA Artists Center sa modeling competition na iyun. Si Suzuki Sadatsugu ang isinali sa mga male models at nakakuha raw ito ng Mr. Congeniality award.
Ni ABU TILAMZIK
Excited naman si Frencheska Farr sa pagkukuwento sa amin sa Party Pilipinas kahapon na very memorable daw sa kanya ang karanasan niya sa pagtanggap niya ng Asian Female Model Award sa Seoul, Korea nu’ng nakaraang linggo.
Sa Pilipinas ay sila nga ni Aljur ang binigyan ng modeling award na iyun at tuwang-tuwa itong nakasabay raw niya sa event na iyun ang Chinovela actors na sina Jerry Yan at si Cholo ng Stairway to Heaven.
Pinakanta raw kasi si Francheska sa modeling competition at kahit hindi raw nila naintindihan ang kinanta ay nagustuhan daw ito ng mga nandu’n lalo na ang mga Koreano na sumabay-sabay pa sa pag-indak habang kumakanta ito.
Medyo mailap nga raw si Jerry Yan sa mga gustong magpalitrato pero nang hinabol daw ito ni Frencheska at nagpakilalang isa siyang Pinay ay kaagad na nagpalitrato raw itong sikat na Taiwanese actor.
Kuwento ni Aljur sa amin, ang tagal daw na nakatitig si Jerry kay Frencheska at parang nabighani nga raw ito sa ganda ng young singer/actress pero nahihiya naman si Frencheska na pag-usapan iyun.
Basta ang importante nakapagpa-picture daw siya kay Jerry Yan.
Nagpapasalamat si Frencheska sa GMA 7 at higit sa lahat kay Ms. Ida Henares dahil sa magandang break na naibigay sa kanya at nakuha pa niya ang award na iyun sa Korea.
May isinali rin pala ang GMA Artists Center sa modeling competition na iyun. Si Suzuki Sadatsugu ang isinali sa mga male models at nakakuha raw ito ng Mr. Congeniality award.
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