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It’s official: China is now the richest country in the world

China has just overtaken the United States in the ranking of the richest countries on the planet, according to a report, now settling in first place.

China has just overtaken the United States in the ranking of the richest countries on the planet, according to a report, now settling in first place. The country’s value would have increased from $ 7 trillion in 2000 to over $ 120 trillion in 2020.

China goes ahead

The world has gotten much richer over the past two decades (net worth has tripled), but the distribution of wealth has shifted. Long behind the United States, China has just overtaken its main rival as the richest nation in the world. These are the two main lessons of a new report from the research arm of McKinsey & Co consultants, relayed by Bloomberg . For this work, the experts examined the national balance sheets of ten countries representing more than 60% of world income.

In detail, global net worth has grown from $ 156 trillion in 2000 to $ 514 trillion in 2020 , according to the report. China accounted for nearly a third of this development. The country’s wealth would thus have climbed from $ 7 trillion in 2000 to $ 120 trillion in 2020 . Its membership in the World Trade Organization in 2001 would obviously have accelerated this meteoric economic rise.

The United States, for its part, saw its net worth more than double over the period to reach $ 90 trillion in 2020. It should also be noted that in both the United States and China, more than two-thirds of wealth are owned by the richest 10% of households, and their share continues to increase.

According to the report, around 68% of that global net worth is stored in real estate. This sector includes machinery, infrastructure and equipment.

China widens the innovation gap

It should also be recalled that in 2019, China had overtaken the United States in the field of international patents with a thousand filings in advance. However, these applications filed through the WIPO Patent Cooperation Treaty (PCT) are one of the key indicators for measuring the various activities related to innovation.

In 2020, the Middle Kingdom retained its first place with 68,720 patents filed (+ 16% compared to 2019), ahead of the United States with its 59,230 filings (+ 3%). In other words, China remains in the lead, but also widens the gap on its direct competitor. Next come Japan, South Korea and Germany. 

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Elon Musk is the richest man in the world again

Musk has a fortune of $ 194 billion

The big boss of Tesla and SpaceX has overtaken his rival Jeff Bezos because his stocks have appreciated in value.

Elon Musk is once again the richest person on the planet. The big boss of Tesla and SpaceX has overtaken his rival Jeff Bezos because his stocks have appreciated in value. According to the Bloomberg Billionaires Index, Musk has a fortune of $ 194 billion. That’s $ 100 million more than Bezos, the founder of Amazon whose wealth mainly consists of his stakes in the e-commerce giant. 

But the value of the shares fell at the end of last month because the quarterly report of the online trading group was disappointing … especially since the company was fined in Luxembourg.


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Rihanna officially billionaire, according to the classification of « Forbes »

The 33-year-old Barbadian is officially a billionaire according to the Forbes ranking

The famous singer and businesswoman Rihanna joins the prestigious Forbes ranking and becomes the richest musician in the world with an estimated fortune of $ 1.7 billion.Article written by

« I only see dollar signs , «  Rihanna sang on her hit Pour It Up . A title that fits perfectly with the new financial course that the designer has just passed.

The 33-year-old Barbadian is officially a billionaire according to the Forbes ranking. With an estimated wealth of 1.7 billion according to Forbes , Rihanna is placed just behind Oprah Winfrey and thus becomes the richest singer in the world. And yet, it is not thanks to her art that she has become so rich.

The Fenty Beauty Empire

In 2017, Rihanna created Fenty Beauty, a cosmetics brand in partnership with LVMH. The make-up line therefore relies on inclusiveness by offering a foundation available in 50 shades, making it easier for women and men of color to find a product suited to their skin tone.

The products very quickly know a worldwide craze and eventually overtake other lines of cosmetics created by other celebrities, such as Kylie Cosmetics by Kylie Jenner. According to Forbes , the company is now valued at $ 2.8 billion (€ 2.35 billion) of which 50% is owned by Rihanna.

La Barbadienne does not stop there and in 2018 launches Savage x Fenty, a line of lingerie that operates on the same principle of inclusiveness by offering underwear for each body type. A company also supported by LVMH and that Forbes estimates at $ 270 million. The singer owns 30% of the shares, the rest belonging to the French luxury group. 

Failure of ready-to-wear

But all is not perfect in this success story . His ready-to-wear brand Fenty, deemed too expensive and impacted by the health crisis, ended up disappearing.

With a fortune estimated at 1.7 billion dollars, Rihanna overtakes another artist turned businessman: Kanye West. With a wealth valued at $ 1.3 billion, the rapper and his shoe and clothing brand Yeezy are behind the singer of the famous Umbrella .

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Jeff Bezos is no longer the richest man in the world

Bernard Arnault in 2017. Image Jérémy Barande (CC BY-SA).

Cock-a-doodle Doo ! Jeff Bezos is no longer the richest man in the world, he was overtaken by Bernard Arnault. The latter is the majority shareholder and CEO of the LVMH group, which owns brands such as Louis Vuitton, Christian Dior, Tag Heuer , Sephora and Tiffany. LVMH shares have climbed more than 35% in 2021 and even 140% from a low in March 2020 at the start of the pandemic. Last Monday, the fortune of Bernard Arnault was estimated at 186.3 billion dollars, or 300 million more than that of the founder of Amazon.

MarketWatch explains that this rise is undoubtedly linked to the Covid-19 crisis, which had affected the luxury sector in 2020. Since the health situation has improved and the borders reopen, luxury is in great shape. No need to worry about LVMH anymore: the group announced 7.6 billion profit in the first half of 2021, four times more than for the same period in 2020 or 44% more than in the first half of 2019.

Source : macG

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Elon Musk and Jeff Bezos, the billionaires who watch the Earth burn

SpaceX boss Elon Musk January 19, 2020.

THE MOOD OF THE DAY – Canada and West Virginia go up in smoke, Germany and China drown. And during this time, the big bosses play cosmonauts and dream of colonies on Mars …

All over the planet, trapped humans, engulfed by sudden floods, fleeing from mega-fire, annihilated by « heat domes ». We barely have time to take an interest in the fate of the Germans drowned in their homes that we have to run in a flooded subway in China, and return to Canada, which we had left below 50 degrees to witness the destruction by the West Virginia forest fire. The media are doing their job. Nothing is spared us, and we « know ». Absolutely nothing that happens to us was unpredictable, the best scientists on the planet, climatologists and oceanographers, brought together in the IPCC thirty years ago by Ronald Reagan and Margaret Thatcher, two not particularly visionary leaders, have perfectly planned the steps past the disaster, and tell us the following.

Getting laid between the rich

No future on Earth? We do not care ! They are smart, have created « disruptive » companies thanks to which they amass billions, and scramble to send the ultra-rich of the planet into the air, with rocket planes that we had the first. seen for a fortnight. Behind these flights with an exciting carbon footprint, two visions as crazy as the other, that we struggle to prioritize: Jeff Bezos, boss of Amazon, wants to build space colonies where millions of people could live and especially work Aboveground ; Tesla boss Elon Musk believes the last humans will live on Mars. They’ve already sorted it out. What is it called?

# Telerama, Reteurs


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Jeff Bezos proposes to send polluting industries into space

Jeff Bezos seems to be very inspired by his little trip to space. Is it for the best? Here’s what he came up with on CBS This Morning  : Getting rid of the industries that pollute the Earth by sending them into space.

“What I’m about to tell you is going to sound fantastic to you, but it will happen. We can move all heavy industries and all polluting industries off Earth by managing them in space, ”said the former Amazon boss .

SOS Earth

Jeff Bezos has been criticized for going for a walk in space for fun , causing an astronomical carbon footprint (between 200 and 300 tons of carbon dioxide to launch a four-passenger rocket, the Guardian says ). However, the businessman seems to have heard of global warming. Only, he worries about it in his own way.

Where others are proposing to reduce overconsumption or even switch to renewable energies , anyone who has made a fortune with an e-commerce site does not particularly intend to reduce the production rate. “We must move heavy and polluting industries into space to preserve this sublime treasure that is the Earth. It’s going to take decades and decades, but you have to start somewhere and big things start with small steps. This is what this suborbital tourism mission allows us to do, it allows us to train, ”he added.

To go and pollute space instead of the Earth to preserve the environment, it was perhaps necessary to hover at 15,000 to think about it …

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Bill Gates and wife Melinda divorce after 27 years together

Billionaire and Microsoft co-founder Bill Gates announced his divorce from Melinda Gates on Twitter on Monday.

Bill and Melinda Gates, September 26, 2018. AFP / Ludovic Marin
Bill and Melinda Gates, September 26, 2018. AFP / Ludovic Marin .

Bill and Melinda Gates , it’s over. After 27 years of marriage, Microsoft founder and Melinda Gates announced their divorce on Twitter on Monday. « After careful consideration and a lot of work on our relationship, we made the decision to end our marriage, » wrote the couple in a statement relayed by the account of the big boss.

The Gates, who have three children, announced that they would continue to « work together in their foundation », the Bill and Melinda Gates Foundation which fights against poverty and disease, but that they did not believe « could any more evolve. together as a couple ”. They met in the late 1980s when Melinda joined Microsoft.null

In the famous press release, the spouses do not say anything about the reasons that push them to separate.

Bill Gates is, according to the latest Forbes ranking, the fourth richest man in the world, with a fortune estimated at $ 124 billion. It places him behind two other Americans, Jeff Bezos and Elon Musk and Frenchman Bernard Arnault, and ahead of Facebook founder Mark Zuckerberg.

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Why Bill Gates warns against bitcoin

Why Bill Gates warns against bitcoin

Bill Gates, the third richest person in the world, is not a fan of bitcoin, in part for environmental reasons. According to the billionaire, not only does bitcoin consume a lot of energy, it can also cause problems for investors who don’t have a lot of money to spare, given its price volatility.

“Elon (Musk, note) has a lot of money and he’s very sophisticated, so I’m not worried that his bitcoin will randomly increase or decrease,” Mr. Gates told Bloomberg in an interview . « So I’m not optimistic about bitcoin, and my general opinion is that if you have less money than Elon you should probably be careful. »

Bitcoin’s price tumbled 13% on Tuesday, to around $ 46,817, falling from a record high of $ 58,354 reached just two days ago, as investors benefited from the near doubling in price since the start of the year. ‘year.

The amount of energy used by the bitcoin in question

Climate philanthropist and activist Bill Gates, whose book “How to Avoid Climate Disaster” recently went on sale, previously said cryptocurrency has taken its toll in fairly direct ways. He also believes that the anonymity behind bitcoin transactions is not a good thing.

“The Gates Foundation does a lot in terms of digital currency, but these are things where you can see who is doing the transaction,” he said in the Bloomberg interview. « Digital currency is a good thing, it’s a different approach. »

Secretary of State for the Treasury Janet Yellen also voiced her doubts about cryptocurrencies and their environmental impact, given the amount of energy used in mining digital tokens.

“I don’t think bitcoin is widely used as a transaction mechanism,” Janet Yellen told The New York Times on Monday. « It is an extremely inefficient way of conducting transactions and the amount of energy consumed to process these transactions is staggering. »

Version originale : Shalini Nagarajan/Markets Insider