Seven most magnificent palaces in the world
The prestigious magazine Architectural Digest has published a ranking of the world's most beautiful palaces. Let us take a look at the buildings that topped this list
According to a recent study by Oxfam, the gap between the poorest and richest segments of the population is growing in the world. Experts estimated that only 8 people with a total fortune of $426 billion have the same amount of money as the entire poor population of the planet.
The first place is held by Bill Gates. The man whose name is a byword for billionaire. Gates co-founded Microsoft in the mid-70s, growing it into the world's biggest software company and helping to make computers a household item. He quit as CEO in 2000 and pledged to devote his fortune to his philanthropic activities in the Bill and Melinda Gates Foundation. He has gradually reduced his ownership in Microsoft to less than 3 percent, with the bulk of his wealth in a private firm. He's the only one on the list who's a regular at Davos.
Amancio Ortega occupied the second place. The richest person in Europe, Ortega opened the first Zara fashion shop in 1975. Now, the chain, part of Ortega's Inditex group, has 7,000 shops globally. Its boom in popularity is largely due to a low cost model that competes with the likes of H&M. As Zara and Inditex grew in size, Ortega, a Spaniard, held on to a majority stake of 59 percent in the company, which has a market value of over 97 billion euros ($102 billion).
The third place of the richest people list is taken by Jeff Bezos, whose income is estimated at $81 billion. The founder and CEO of Amazon.com helped revolutionize the retail industry by popularizing online shopping. What was initially an online book shop now sells pretty much anything. Bezos has reached beyond Amazon, in which he holds a 17 percent stake, to try his hand in other industries. He's bought the Washington Post and set up an aerospace company, Blue Origin, that aims to make space accessible to tourists and paying customers.
The fourth place in the list of the wealthiest citizens of the world went to the world's largest investor Warren Buffett with income of $76 billion. The Oracle of Omaha, as he's known for the way his every investment decision is followed by thousands. Buffett began investing as a teenager in the 1940s and gradually grew his firm, Berkshire Hathaway. Buffett, 86, is notoriously frugal and favors investing in companies with proven business models over new industries, such as in technology. He's said he will give away the bulk of his wealth to philanthropy. Since 2006, he's been donating blocks of Berkshire stock to the Bill and Melinda Gates Foundation.
The fifth place in this rating is given to Carlos Slim Helu, whose fortune is estimated at $64 billion. The Mexican tycoon owes his fortune to a major ownership in America Movil, a telecommunications multinational worth $42 billion. He personally owns about 7 percent in the company while his broader family retains a 37 percent stake. He was ranked as the richest person three years ago, but saw his net worth hit by a downturn in Latin American economies. U.S. President-elect Donald Trump's threats to scrap free trade deals and build a wall on the U.S.-Mexico border have also hurt shares in his business interests. Forbes estimates his net worth dropped $5 billion in the four days after Trump's election.
The sixth place in the list of super-rich citizens of the world is occupied by the founder of the largest global social network Facebook Mark Zuckerberg. He founded Facebook in 2004 while a college student to connect other Harvard students. The company went on to become popular globally and listed its shares publicly in 2012, making Zuckerberg, now 32, a multibillionaire. He's managed to make Facebook profitable where rivals like Twitter have lagged, and expanded it with targeted acquisitions. He and his wife have pledged to sell 99 percent of their holdings in Facebook — over 400 million shares, worth about $50 billion — to support philanthropic causes.
The seventh place among the richest people on the planet belongs to Larry Ellison with a fortune of $54 billion. As a young programmer in the '70s, Ellison's first big client was the CIA. The name of the project was “Oracle.” In 1977, Ellison and associates used that name for their company, which creates software that helps manage databases and has since become an industry standard. Ellison has recently focused more on cloud computing, in which data is stored and managed across a network of computers. His fortune comes from the 27 percent stake he still owns in Oracle, a company worth $160 billion.
The eighth place of this list remains for Bernard Arnault, whose income reaches $54 billion. This French businessman is the president of Louis Vuitton Moët Hennessy. Arnault has long been considered one of the richest people in France. At the moment, the businessman actively invests in Internet enterprises, although these investments do not always pay off.
The prestigious magazine Architectural Digest has published a ranking of the world's most beautiful palaces. Let us take a look at the buildings that topped this list
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Despite the widespread belief that ultra-wealthy individuals are leaving big cities in search of privacy, most still prefer to live in bustling metropolises, according to the latest billionaire census conducted by Altrata. Let's explore which cities today have the largest concentration of people with a fortune exceeding $1 billion