Money and Wealth

Singapore-born tycoon Low Tuck Kwong has amassed a staggering fortune of $27.9 billion by investing in coal mining, even as experts repeatedly predicted that demand for the fuel would diminish. The majority of his wealth comes from Bayan Resources, one of Indonesia’s largest coal producers, and he holds a 62%...

Lei Jun, the founder of Chinese tech giant Xiaomi, has climbed to the position of China’s fifth wealthiest billionaire following a remarkable 250% rally in the company’s shares over the past year. Investors have become increasingly optimistic about Lei’s expansion into the electric vehicle (EV) sector, driving Xiaomi’s market performance....

Despite common perceptions, the world’s leading city for business and wealth is not Dubai. According to the 2024 World’s Wealthiest Cities report by Henley & Partners, Singapore has solidified its position as a top destination for the ultra-rich, ranking as the fourth wealthiest city globally. The city-state is now home...

Bill Gates, Melinda French Gates, and Warren Buffett have collectively contributed nearly $100 billion to the Gates Foundation, underscoring their deep commitment to philanthropy. The foundation’s records indicate that between its inception in 2000 and the end of 2023, Gates and French Gates donated $59.5 billion, while Buffett, the CEO...

Johan Rupert, South Africa’s wealthiest individual and currently the richest person in Africa, has experienced a significant surge in his net worth, increasing by $2.7 billion within a single month. At the start of January, Rupert’s fortune was valued at $11.3 billion, reflecting December’s assessment of Africa’s richest individuals, as...

Francoise Bettencourt Meyers, heir to the L’Oréal cosmetics empire and Europe’s wealthiest woman, is set to retire from her position on the company’s board, passing her vice chairmanship to her son, Jean-Victor Meyers. Her seat on the board will be taken by Alexandre Benais, the deputy CEO of Téthys Invest,...

A recent study by GoBankingRates.com has revealed that Texas surpasses California in the number of affluent suburbs and is home to the majority of the nation's fastest-growing wealthy communities. The personal finance company’s analysis identified 30 of the richest suburbs in the U.S., with Texas claiming seven spots—three of which...

A global tech selloff, spurred by Chinese AI developer DeepSeek, erased a combined $108 billion from the fortunes of the world’s 500 wealthiest individuals. Nvidia co-founder Jensen Huang led the losses, with billionaires tied to artificial intelligence facing the most significant setbacks. Huang’s fortune dropped by 20%, equating to $20.1...

Nigerian-born investor Adebayo Ogunlesi was recently appointed to the board of directors at OpenAI, marking another significant milestone in his illustrious career. Following this announcement, his net worth has climbed from $1.7 billion on January 15 to $2.3 billion, driven by the strong performance of his diverse investment portfolio. Ogunlesi's...

Nigeria's wealth inequality has reached a critical level, with the nation's wealthiest individuals accumulating unprecedented fortunes while millions struggle to meet their basic needs. A recent report by Oxfam revealed that the combined net worth of Nigeria’s four richest billionaires—estimated at $23.7 billion—is substantial enough to cover the entire city...