Rise in billionaires tests China’s rich-poor divide

Getting rich remains glorious for many Chinese, but such aspirations pose a challenge to the government’s attempt to bridge a potentially divisive rich-poor divide.

China’s transformation from an impoverished backwater to the world’s second-largest economy has created a growing army of super wealthy, with the number of billionaires nearly doubling to 115, according to the Forbes annual list of the world’s richest people.

Some have gained more than others. A maxim widely attributed to former Chinese leader Deng Xiaoping said that “to get rich is glorious”, but that wealth has gone to a narrow segment of the populace.

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Sting to sing at Prague Christmas party of richest Czech Petr Kellner

If you are a billionaire, and that too, the richest billionaire in your country, you can get even Sting to sing

British singer and composer Sting will perform at the Christmas party of the PPF financial group that belongs to Petr Kellner, the richest Czech, on December 16.

Sting has had six concerts in the Czech Republic, most recently in Prague in the summer 2010.

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Meusharot, Israel’s hottest reality TV making many viewers feel guilty, but they can’t stop watching it

What “The Riches”  (Meusharot in Hebrew) depicts may be more accurate than many in Israel would care to admit. In 20 years, Israel has whiplashed from being essentially a socialist state to a place with one of the world’s biggest gaps between rich and poor.

That’s partly because Israel’s poor are getting poorer, but also largely because incomes of the superrich have soared to new levels, bolstered by tax cuts, deregulation and an influx of Russian entrepreneurs who brought money with them.

The number of Israeli billionaires doubled in the past two years to 16, while their combined wealth tripled to $45 billion, according to Forbes magazine. Recently deceased shipping magnate Sammy Ofer was richest with $10.3 billion, followed by diamond-mine mogul Benny Steinmetz and Carnival Cruise heiress Shari Arison.

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How will the $100 Billion for the Green Climate Fund be Financed?

Developed countries have promised to commit $100 billion a year to the new Green Climate Fund starting in 2020, first at the COP 15 (15th Conference of the Parties) in Copenhagen, and then at the COP 16 in Cancun. However, there is still no answer to a critical question: How will these commitments be financed? Although there are some recycled ideas, like a Financial Transaction Tax, revenues from CO2 emission trading, or airline taxes, these ideas still require a redistribution of existing funds or expected cash flows. Every dollar obtained for the new Green Climate Fund must be withdrawn from the banking system, the CO2-related industry, or a public budget. It is likely that the resistance and lobbying against such a redistribution will be strong enough to block the implementation of the original pledges. Thus, what we need is a new and global financial source able to generate at least $100 billion a year, without the imperative of redistributing existing funds.

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Brazil’s Billionaire List – Up, Above and Going Fast

Brazil’s been breaking all sorts of records lately — all the way from GDP growth to its total number of billionaires.

The country, which is now the 5th largest economy in the world with a 7.5% GDP growth, has birthed 12 new names on this year’s World’s Billionaires list, hitting a record high of 30 billionaires. That’s no thanks to Brazil’s stock market, which grew just 1% over the last twelve months. But it is thanks to the Brazilian currency, the real (up 12% against the dollar) and increased transparency in its public companies’ disclosures.

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Could Microsoft Really Collapse? That Is Steve Ballmer’s Nightmare

Microsoft, one of the most successful software companies ever, has sales of nearly $70 billion a year, annual profits approaching $20 billion, nearly $60 billion in cash, and is still growing sales around 10% per year.

But somehow, some people in Silicon Valley are convinced that Microsoft is going to collapse. Soon. Like in the next few years.

Why do they think so.

Here’s the nightmare scenario that could keep Steve Ballmer and his minions awake at night — and keep him working long hours during the day to prevent it. Read more

Human trafficking is a $71 billion industry?

Who would have thought!

I still don’t understand enough about this business of human trafficking, but I thought this was done in some poor countries in a sly manner. If this news item has not messed billions with millions, the human trafficking business is worth over $70 billion (guess that is per annum). Astonishing isn’t it! Am really curious who are the blokes who make the lion’s share of this booty?

If you read the entire news item, it is a bit confusing as to what they refer to as human trafficking…is it the same illegal stuff where folks are kind of forced against their will to be sent into some sort of forced labour, or are these folks talking about something else?

Free Energy 400 Billion Dollar Secret

Not a cost effective solution here,Search Jean pain composting” to learn how you can do this in your own back yard. Stanley Meyers easy to build Tubes also abiotic oil and Fischer–Tropsch process.

It cost the United States 400 billion dollars to import oil “last year”, seems a well rounded number given the barrels of oil imported and the 2007 price of oil.
It has consistently, for many years, been the stated goal of the United States to reduce or eliminate its dependence on foreign oil, therefore, if any alternative energy source seems capable of achieving that goal, it should be pursued with the utmost vigor. We have here in the United States the only method known to man which can take any non-nuclear material containing carbon,and using this process, deliver a diesel quality fuel oil in two short hours! Despite the promise inherent in this system to not only alleviate our dependence on foreign oil, but to do so while contributing to a major degree in cleaning the environment

Hong Kong billionaire’s ex-wife wins huge divorce payout

A Hong Kong heir to a property fortune has been ordered to pay his ex-wife more than US$150 million in one of the city’s biggest divorce settlements, reports said Friday.

High Court Justice John Saunders ruled that billionaire tycoon Samathur Li must pay Florence Tsang, his wife of eight years, HK$1.22 billion (US$157 million), media reports said.

Moral of the story? Worth marrying a billionaire – even in the event of a divorce, you could still be worth millions!

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Zynga: a possible valuation of 10 billion dollars?

While it appears that an eventual stock market listing by Facebook is starting to come to light, another web player also appears to be preparing for such an event: software developer Zynga, looking for a market valuation of 10 billion dollars.

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