LeBron becomes first active NBA player worth $1 billion, according to Forbes

Los Angeles Lakers superstar LeBron James has become the first active player in NBA history with a net worth of $1 billion, Forbes magazine reported on Thursday.

The 37-year-old forward, a four-time NBA champion and four-time NBA Most Valuable Player, ranks second on the league's all-time scoring list and has played in the league since 2003.

In the Forbes list of highest-paid world athletes from May 2021 to May 2022, James ranked second in total income with $121.2 million, trailing only Argentine playmaker and Paris Saint-Germain star Lionel Messi's $130 million.

The Lakers struggled to a 33-49 season and James missed the playoffs for only the fourth time in his career, but he still became the oldest player to average 30 points a game, hitting 30.3 per contest.

In a 19-year NBA career, James has made more than $385 million in salary alone as a player for the Cleveland Cavaliers, Miami Heat and Lakers.

Off the court, James took a star turn in Hollywood with the film "Space Jam: A New Legacy" and sold a minority stake in his production company, SpringHill.

More than $500 million of his value comes from cash and investments.

James has an ownership stage in Fenway Sports Group, which owns English Premier League side Liverpool, Major League Baseball's Boston Red Sox and made a deal to buy the NHL's Pittsburgh Penguins.

His stake in Blaze Pizza is estimated to be worth $30 million while his $80 million in real estate holdings includes a mansion in his hometown of Akron, Ohio, and two homes in Los Angeles.

Agence France-Presse

Serena tops Forbes list of highest paid female athletes

Serena Williams was the highest paid female athlete for a third consecutive year in 2018, according to an annual list published by Forbes on Tuesday that was dominated by tennis players.

Williams, who returned to competition in March after giving birth last September, earned $62,000 in winnings over the past year but received $18.1 million from an endorsement portfolio unmatched among women in sports, Forbes said.

Williams, who will try to equal Margaret Court's record of 24 grand slam titles when she competes at the August 27-September 9 US Open in New York, earned twice as much off the court as any other female athlete, according to Forbes.


Dane Caroline Wozniacki, who captured her maiden grand slam title at this year's Australian Open, was second on the list with combined earnings of ($13 million), while reigning U.S. Open champion Sloane Stephens ($11.2 million) was third.

Spaniard Garbine Muguruza ($11 million) and Russian Maria Sharapova ($10.5 million) rounded out the top five.

Indian badminton player P.V. Sindhu ($8.5 million) and retired race car driver Danica Patrick ($7.5 million) were the only non-tennis players to crack the top 10, filling up the seventh and ninth spots, respectively.

In June, Forbes issued a ranking of the world's 100 highest-paid athletes and it did not feature a woman.

Serena Williams, who was the only woman on the list the previous year, dropped out of the chart while taking time off to have a baby.

source: news.abs-cbn.com

Forbes: Henry Sy is still PH top billionaire; Jeff Bezos is world's richest

MANILA - Shopping mall tycoon Henry Sy is still the Philippines' richest man while Amazon.com founder Jeff Bezos seized the top spot for the first time, Forbes Magazine said Tuesday.

Sy has a net worth of $20 billion (P1 trillion), nearly double from last year's $12.7 billion, and ranked 52nd worldwide. Sy has led the country's billionaires for 10 years in a row.

Bezos' seized the top spot from Microsoft founder Bill Gates this year with a net worth of $112 billion. Gates placed second with a net worth of $90 billion.

Tycoon John Gokongwei of the JG Summit group and family ranked second in the Philippines and 305th worldwide with $5.8 billion.

Enrique Razon, who owns Solaire Casino and Resort, was third in the Philippines and 404th worldwide with $4.9 billion.

According to Forbes, Asia Pacific has the most billionaires at 827, followed by the United States at 585 and Europe at 559.

A record 2,208 billionaires made this year's list, with a collective net worth of $9.1 trillion, up from $7.7 trillion last year.

source: news.abs-cbn.com

Mark Wahlberg named world's highest-paid actor in 2017

LOS ANGELES (Reuters) - Mark Wahlberg soared to the top of the world's highest paid actors on an annual Forbes magazine list that highlighted a huge disparity between male and female Hollywood stars.

Wahlberg, 46, earned an estimated $68 million in 2017 thanks to his pay days for movies "Daddy's Home 2" and "Transformers: The Last Knight", according to the Forbes ranking released on Tuesday.

The rapper-turned-actor knocked 2016 leader Dwayne "The Rock" Johnson into second place, with estimated 2017 earnings of $65 million.

Forbes estimates earnings, before taxes and management fees, from movies, TV and commercial endorsements.

The Forbes list again highlighted Hollywood's gender pay gap. Last week, the magazine named "La La Land" Oscar winner Emma Stone as the world's highest paid actress with an estimated 2017 take of $26 million.

Forbes said the 10 highest-paid leading men earned a combined $488.5 million before tax in its June 2016-June 2017 scoring period, nearly three times more than the $172.5 million earned by the top 10 scoring women.

Forbes attributed the disparity to the prevalence of superhero and action blockbusters that earn big at the box office for Hollywood studios but tend to have fewer leading roles for women.

"Pirates of the Caribbean" star Johnny Depp, who for years has been among the top five paid actors, did not make the top 20 this year, Forbes said. Depp is currently embroiled in a bitter lawsuit with his former business managers who have detailed what they describe as his lavish spending habits.

Last December, before the May 2017 release of "Pirates of the Caribbean; Dead Men Tell No Tales," Forbes named Depp the most overpaid actor for a second straight year as films such as "Alice Through the Looking Glass" and "Mortdecai" did not fare well.

Three of Bollywood's biggest stars - Shah Rukh Khan ($38 million), Salman Khan ($37 million) and Akshay Kumar ($35.5 million) - took the 8th, 9th and 10th places on the Forbes list, respectively.

The full list can be seen at: here#134f57793f92

Reporting by Jill Serjeant; Editing by Paul Simao

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Amazon's Jeff Bezos becomes world's richest person - briefly

Amazon founder Jeff Bezos on Thursday became the world's richest person, as a jump in the share price of the US tech giant enabled him to overtake Microsoft founder Bill Gates, a new estimate showed.

Forbes magazine said its real-time tracking of personal fortunes showed Bezos with a net worth of $90.5 billion, ahead of the $90 billion for Gates early Thursday.


A few hours later, though, Bezos had slipped back to second place as Amazon shares pared their gains.

Bezos owns around 17 percent of the equity of Amazon, which has been expanding from its original mission as an online retailer to a diversified tech firm in cloud computing, online video, computer hardware and artificial intelligence.

The company also recently announced plans to acquire US grocer Whole Foods, which could help Amazon expand in that sector.

Amazon shares were up 1.7 percent at $1,070.72 and have risen some 24 percent over the past four months, adding some $17 billion to the net worth of the 53-year-old Bezos.

According to Forbes, Gates has been the richest person in the magazine's annual rankings in March for the past four years and for 18 of the past 22 years. Mexican telecom magnate Carlos Slim overtook Gates from 2010 to 2013.

Among the billionaires gaining ground is Facebook founder Mark Zuckerberg, who has an estimated worth of some $71.3 billion according to the real-time Forbes estimate.

- Bezos v Trump -

While most of Bezos's wealth is in Amazon, he also owns the private space firm Blue Origin and the Washington Post newspaper.

Forbes pointed out that Gates could have been considerably wealthier, having given away more than $30 billion to philanthropic causes over the years.

Bezos has given an estimated $100 million, but recently asked users on Twitter for ideas for charitable donations which could have an impact on the world.

The billionaire notably opposed Donald Trump during the 2016 presidential campaign, but after the election appeared to give the new president a boost by announcing Amazon would add 100,000 new US jobs over 18 months.

Trump however has not spared Bezos's ventures from criticism, apparently renewing claims that he purchased the newspaper to divert attention from regulators away from Amazon.

"So many stories about me in the @washingtonpost are Fake News," Trump tweeted this week.

"Is Fake News Washington Post being used as a lobbyist weapon against Congress to keep Politicians from looking into Amazon no-tax monopoly?"

Bezos appeared intent on spending more time in the US capital, purchasing what is likely the city's largest private residence for $23 million.

Under Bezos's ownership, the Washington Post reported it was profitable in 2016, after making a series of investments in new technology and personnel.

With Amazon, Bezos is known for taking a long view. The company lost money for many years and still delivers thinner profits than many of its peers, plowing money into new investments.

source: news.abs-cbn.com

Cowboys, Yankees top Man United as world's most valued teams

NEW YORK -- With the NFL's top sponsorship and premium seating revenues, the Dallas Cowboys were named the world's most valuable sports team Wednesday by Forbes magazine in its annual top-50 ranking.

The Cowboys, who have not won a Super Bowl since 1996, jumped five percent in value to $4.2 billion (3.68 billion euros) to defend their 2016 position. Last year they unseated Spanish football powerhouse Real Madrid atop the global list.

The 32-team NFL is the world's richest league, with an average operating profit of $91 million and no club turning less than a $26 million profit. A major reason for that was the latest NFL television package bringing annual revenues of $7 billion.

The Cowboys also boast a $1.5 billion team practice facility and headquarters that will become a retail and entertainment complex with hotels, medical center and convention center. An exclusive club offers members the chance to watch Cowboys workouts.

Only three NFL clubs missed the 50-team Forbes richest roll call -- the Cincinnati Bengals, Detroit Lions and Buffalo Bills.

Major League Baseball's New York Yankees ranked second on $3.7 billion, a nine percent boost from last year. They boast $120 million in sponsorships and $130 million in premium seat revenues, tops in the major leagues. In all, eight major league clubs made the Forbes list.

Manchester United ranked a close third on $3.69 billion, hurdling Spanish rivals Barcelona ($3.64 billion) and Real Madrid ($3.58 billion). Barca was up two percent to stand fourth, Real off by the same amount in fifth overall.

In all, seven global football clubs made the list, the others being Bayern Munich, 15th on $2.71 billion; Manchester City, 35th on $2.083 billion; Arsenal, 43rd on $1.93 billion and Chelsea, 46th on $1.845 billion.

The reigning Super Bowl champion New England Patriots were sixth on the list at $3.4 billion, jumping six percent with their run to the NFL title.

Knicks seventh

Topping NBA clubs in seventh overall were the New York Knicks on $3.3 billion, up 10 percent in value but still weaklings on the court at 31-51. They have not had a playoff berth or winning season since 2013 and have won only one playoff series since 2000.

The NFL's New York Giants were eighth on $3.1 billion with the NFL San Francisco 49ers and NBA Los Angeles Lakers sharing ninth at $3 billion.

In all, there were seven NBA clubs on the list. The reigning champion Golden State Warriors shared 20th with the NFL Houston Texans on $2.6 billion, leaping 37 percent in value.

Last year's NBA champion Cleveland Cavaliers didn't make the list but the NBA-worst Brooklyn Nets at 20-62 shared 47th on $1.8 billion, just ahead of a 50th-place deadlock between the NFL New Orleans Saints and baseball's Los Angeles Angels on $1.75 billion.

The biggest gainer was the NFL Los Angeles Rams, doubling in value after a move from St. Louis to land in 12th overall with a new stadium owned by Rams owner Stan Kroenke set to open in 2020.

Kroenke is also the biggest shareholder in Arsenal, which suffered the list's worst plunge, tumbling 20 spots and off four percent due to a decline in the British pound after Britain voted to leave the European Union.

Two teams from last year fell off the list, the NBA's Houston Rockets and English football side Liverpool. No NHL or auto racing teams made the list.

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Forbes list: Woods worth $740M; Jordan a billionaire

Golfers Tiger Woods and Phil Mickelson and former NBA player Michael Jordan are among the 20 wealthiest American celebrities, Forbes reported on Wednesday.

Woods, 40, is the youngest person on the Forbes top-20 list, with a net worth estimated at $740 million.

The 14-times major champion, who trails only Jack Nicklaus (18 majors) on the all-time list, recently launched a competitive comeback after being sidelined for more than 15 months while recovering from back surgery.

Woods who went through a costly divorce in 2010 and lost several sponsors after revelations of multiple infidelity, is seventh on the list, while Mickelson is 18th, with an estimated worth of $375 million.

Jordan, 53, who retired in 2003 with the mantle of arguably the greatest basketballer, is worth $1.2 billion according to the magazine, good for fourth on the list, which is topped by filmmaker George Lucas ($4.6 billion).

Forbes says eligibility for the list was limited to United States citizens who are rich because of their fame, rather than famous because they are rich.

According to Forbes, President-elect Donald Trump belongs in the latter category.

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Taylor Swift tops Forbes' 2016 list of highest paid women in music

With earnings of $170 million, pop singer Taylor Swift was 2016's highest-paid woman in music, Forbes magazine said on Wednesday.

Swift, 26, smashed the Rolling Stones' North American touring record, pulling in a total of more than $200 million on the North American portion of her "1989" world tour. Last year, the "Bad Blood" singer came in second to Katy Perry with an estimated $80 million.

Swift was honored with the first-ever "Taylor Swift Award" at the BMI Pop Awards in May, quipping that she "would be kind of bummed" if the award had gone to someone else.

British "Hello" singer Adele, 28, ranked second on Forbes' list with $80.5 million in earnings, her highest total yet. Adele, whose album "25" swiftly became the biggest seller of 2015, enjoyed continued success with album sales this year and grossed millions per night for her arena shows.

Madonna, who was named the highest-paid woman in music in 2013, ranked third this year. Her recent "Rebel Heart" tour grossed $170 million, bringing her career total on the road to $1.4 billion pretax, according to the magazine.

In the past 12 months, Madonna, 58, earned a total of $76.5 million. That was slightly more than Barbados-born Rihanna, who earned $75 million and also received a lifetime achievement award at the MTV Video Music Awards on Aug. 28.

"Lemonade" artist Beyonce, who was 2014's top earner, ranked fifth at $54 million.

Collectively, the 10 women on Forbes' list earned more than $600 million this year.

Forbes compiled the list after estimating pretax income for the 12 months from June 2015 to 2016 based on interviews with managers, agents, lawyers and some of the stars. It also looked at data from the Pollstar, the Recording Industry Association of America and tracking firm Nielsen SoundScan.

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Amazon's Bezos passes Buffett, becomes 3rd-richest person: Forbes

NEW YORK - Jeff Bezos, the founder and chief executive of Amazon.com Inc., has become the world's third-richest person as of the market close for the first time, Forbes magazine said, passing Warren Buffett, the chairman and chief executive of Berkshire Hathaway Inc.

Bezos' fortune was $65.3 billion as of 4:30 p.m. EDT on Thursday, compared with Buffett's $64.9 billion.

Microsoft Corp. co-founder Bill Gates remained the world's richest person, at $77.7 billion, while Spain's Amancio Ortega, who founded the Zara clothing chain's owner Inditex SA, was second at $72.7 billion. Facebook Inc. co-founder and chief executive Mark Zuckerberg was fifth, at $54 billion.

Bezos, 52, owns close to 18 percent of Amazon. Its stock has risen by roughly 50 percent since early February, as the world's largest online retailer continued to upend retailing as more people took to the Web rather than the mall to shop.

Amazon's share price rose further in after-hours trading, after the Seattle-based company reported better-than-expected second-quarter results.

Buffett, 85, owns close to 18 percent of Berkshire, but his donation this month of $2.86 billion of Berkshire stock to the Bill & Melinda Gates Foundation and four family charities led to his drop to fourth place. He has donated more than $24.3 billion to the Gates Foundation and family charities since 2006.

Berkshire is based in Omaha, Nebraska, and has roughly 90 business units including Geico car insurance, the BNSF railroad and Dairy Queen ice cream.

In June, Buffett called Bezos a "classic example" of how a business owner could thrive, by having focused at Amazon on how to "delight" customers, and keep them coming back, rather than simply process their orders.

source: www.abs-cbnnews.com

Facebook founder's wealth jumps tremendously in 2016

Forbes Magazine announced its annual list of the world's richest persons on Tuesday (March 1), which was topped by Microsoft founder Bill Gates for the 17th time.

Gates has held the number one spot 17 of the last 22 years, according to the magazine, although his wealth has shrunk to $75 billion (USD), down from $79.2 billion last year.

Spanish retail giant Amancio Ortega came in second, with a net worth of $67 billion. Ortega is best known for his fashion chain Zara.

The Oracle of Omaha, Warren Buffett remained in the third spot, despite the fact that his net worth dropped by $11.9 billion to $60.8 billion.

Mexican telecom giant Carlos Slim dropped two spots to number four, after his wealth decreased by $27 billion, to $50 billion compared to 2015.

Amazon.com founder and CEO Jeff Bezos moved up ten spots to number five, his net worth now estimated at $45.2 billion.

At number six is Facebook founder Mark Zuckerberg, who is the biggest gainer on the 2016 list. Zuckerberg's fortune is up $11.2 billion for a total net worth of $44.6 billion.

The richest woman in the world is French cosmetics giant L'Oreal heiress Liliane Bettencourt, with an estimated net worth of $36.1 billion.

This year, the magazine says 1,810 billionaires made the list, down from 1,826 in 2015. Their average net worth is $3.58 billion, down $280 million from $3.86 billion in 2015.

The United States has the most billionaires with 540, followed by China with 251, Germany with 120, India with 84 and Russia with 77.

source: www.abs-cbnnews.com

Henry Sy still the richest billionaire in PH - Forbes

MANILA - Mall tycoon Henry Sy Sr. is still the richest man in the Philippines, according to Forbes magazine.

For the 8th consecutive year, the SM malls owner topped the 2015 Forbes Philippines Rich List with a net worth of $14.4 billion, up by $1.7 billion compared to last y

"The country's richest man is even richer as the value of his publicly traded conglomerates, SM Investments and SM Prime Holdings, have increased by 17 percent and 20 percent, respectively over the past year," Forbes said.

Sy also has a stake in electricity firm National Grid Corp., and is the owner of BDO Unibank, the country's largest bank in terms of assets, loans, deposits, capital and trust funds.

Landing at the No. 2 spot is JG Summit’s John Gokongwei Jr., with a net worth of $5.5 billion.

Gokongwei moved up three spots after his company’s stock rose 30 percent driven by strong revenues from his petrochemical businesses and earnings from investment in Manila Electric Co. (Meralco).

Andrew Tan of Alliance Global moved up to the third spot with $4.5 billion, down from $5.1 billion previously.

Rounding out the top 5 on the 2015 list are LT Group’s Lucio Tan ($4.3 billion) and International Container Terminal Services’ Enrique Razon Jr. ($4.1 billion).

Razon slipped to the fifth spot after seeing a drop in his net worth of more than $1 billion.

Newly-minted billionaire Dean Lao of D&L Industries is a new addition to the list at No. 16 as he saw his net worth soar to $1.1 billion, a 76 percent increase from last year's $625 million.

D&L manufactures aerosol cans as well as fats and oils used in food products like margarine, cocoa butter and ice cream.

Oscar Lopez also reached billionaire status with investments in ABS-CBN, telecom, and power distribution. Lopez Holdings is also among the firms cashing in on clean-energy projects in the Philippines.

The net wealth of Philippines’ richest are compiled based on stock prices and exchange rates as of the close of markets on August 14.

The top 10 richest in the Philippines are:
1) Henry Sy
2) John Gokongwei Jr.
3) Andrew Tan
4) Lucio Tan
5) Enrique Razon Jr.
6) George Ty
7) Aboitiz Family
8) Jaime Zobel de Ayala & family
9) David Consunji
10) Tony Tan Caktiong

The list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and other sources.

source: www.abs-cbnnews.com

Who are the richest billionaires in the Philippines?

MANILA - These tycoons own the country's major shopping malls, banks, airlines, fast-food chains, hotels, and power firms.

The richest billionaires in the Philippines have a combined net worth of nearly $50 billion (P2.3 trillion), which are compiled by Forbes magazine based on stock prices and exchange rates as of the close of markets on August 14.

Here are the country's 10 richest billionaires:

Mobile users can view the desktop version of the slideshow here.

10) Tony Tan Caktiong

Tony Tan Caktiong has turned Jollibee Foods into the fastest-growing Asian restaurant chain in the world. He also recently entered new territory, building community malls with fellow billionaire Edgar Sia II of Mang Inasal fame. The 62-year-old Caktiong has a net worth of $2.2 billion. Photo: Jollibee Foundation

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Jennifer Lawrence and 17 other highest-paid actresses

MANILA – Forbes has released a list of the world’s highest paid actresses led by “Hunger Games” star Jennifer Lawrence.

Here’s a closer look at today’s top female celebrity earners. Did your favorite star make the cut?

Mobile users can view the desktop version of the slideshow here.

 

 

Photo of Johansson’s wax figure by Mike Segar, Reuters

1. Jennifer Lawrence ($52 million)

 source: www.abs-cbnnews.com

Clinton snaps at Merkel heels in 'powerful women' list

NEW YORK - German Chancellor Angela Merkel tops the Forbes list of the world's most powerful women for the fifth straight year but Hillary Clinton is snapping at her heels, the magazine said Tuesday.

Behind them came Melinda Gates, who co-chairs the Bill and Melinda Gates Foundation with her billionaire philanthropist husband, US federal Reserve Chair Janet Yellen and General Motors CEO Mary Barra.

IMF chief Christine Lagarde was in sixth place and Brazilian President Dilma Rousseff came in seventh.

The top 10 were rounded out by Facebook COO Sheryl Sandberg (No. 8), Susan Wojcicki, CEO of YouTube (No. 9) and US First Lady Michelle Obama.

Newcomers include US pop star Taylor Swift, in at number 64 and the youngest of the bunch at 25.

The annual list of the world's 100 most powerful women includes leaders in eight categories -- technology, politics, business, finance, media, entertainment, philanthropy and billionaires.

Clinton, who in April announced her second run for the White House, was listed at number six last year but as US secretary of state she also ranked number two to Merkel in 2011 and 2012.

"Come next year's US elections, she (Merkel) could lose her title for the first time since 2010 to the one person with a credible and mathematical chance of 'leading' the world," wrote Forbes.

Even if Clinton wins the Democratic nomination for the White House, she has no chance of being elected US president until November 2016 -- after Forbes publishes its 2016 most-powerful women list.

Forbes has put the German chancellor on the list 10 times in the past 12 years, nine of them as most powerful woman. Merkel was first elected in 2005 and won a historic third term in 2013.

Geographically speaking, the United States dominates the list. Fifty-nine on the list are American, including several immigrants.

There are 18 from the Asia-Pacific region, headed by South Korean President Park Geun-Hye at number 11, 12 from Europe, four each from Latin America and the Middle East and three Africans, Forbes said.

Other newcomers include EU foreign policy chief Federica Mogherini, number 36; US Attorney General Loretta Lynch, number 34; and incoming Guardian editor-in-chief Katharine Viner at number 80.

The magazine said the list features eight heads of state and one monarch, who govern nations with a combined GDP of $9.1 trillion and 15 billionaires with a total net worth of more than $73.3 billion.

The top ranking billionaire this year is Oprah Winfrey at number 12 with a personal net worth of $3 billion.

In another measure of influence, the 100 women on the 2014 list have a combined social media footprint that includes 474 million Twitter and YouTube followers, the magazine said.

The list can be viewed at www.forbes.com/power-women

source: www.abs-cbnnews.com

Which billionaire covers 1st issue of Forbes Philippines?

MANILA, Philippines - A Filipino billionaire landed the cover of Forbes Philippines' first issue.

Forbes Philippines on Tuesday revealed Alliance Global CEO Andrew Tan is on the cover of its first issue.


Tan is the fourth richest Filipino, and 330th in the world, on the 2015 Forbes Billionaires List. His net worth is estimated at $4.8 billion.

His businesses include property (Megaworld), liquor (Emperador Distillers), fast food (McDonalds franchise for the Philippines), as well as hotel and casino (ResortsWorld Manila).

Forbes Philippines is being published in the Philippines under a licensing agreement between Forbes Media and Gokongwei-led Summit Media. Its initial circulation will be 10,000 a month.

On the Forbes website, William Adamopoulos, CEO/Asia of Forbes Media, said the launch is timely "given the Philippines’ rising economic prospects and its fast-growing community of CEOs, entrepreneurs and investors."

source: www.abs-cbnnews.com

Rich List: 10 wealthiest Korean billionaires

MANILA, Philippines - South Korea has a record 35 billionaires on Forbes magazine's 2015 Rich List.

Since Samsung is the most well-known South Korean brand, it comes as no surprise that Samsung Electronics chairman Lee Kun-hee is Korea's richest man.

Interestingly, five of the 10 richest men in South Korea have been convicted of crimes such as embezzlement and tax evasion. One Korean billionaire on the list is still in jail.

Find out who made the list of richest Korean billionaires.

Mobile users can view the desktop version of the slideshow here

source: www.abs-cbnnews.com

How this Fil-Am became 2nd youngest billionaire in the world

MANILA, Philippines - The Filipino-American co-founder of Snapchat is the world's second youngest billionaire on Forbes' Billionaire list.

Bobby Murphy, 26, is estimated to be worth $1.5 billion, according to Forbes magazine.

Baby-faced Murphy made his fortune from Snapchat, along with his friend Evan Spiegel, who at 24, is the world's youngest billionaire.

Snapchat is a popular temporary photo messaging app. It is currently valued at $10 billion and has 100 million users a month. Forbes estimates both Murphy and Spiegel have a 15 percent stake each in Snapchat.

Murphy, whose mother emigrated from the Philippines, grew up in Berkley, California.

Murphy and Spiegel met while they were students at Stanford University. They were both members of the Kappa Sigma fraternity.

Murphy was a mathematics and computational science major, while Spiegel was in the product-design program.

In an interview with Forbes magazine in 2013, Murphy said they "weren't cool (in college), so we tried to build things to be cool."

They first worked together to develop an online software called Future Freshmen, but it didn't take off.

For their next project, a fellow Stanford student and friend, Reggie Brown (who would later sue the company for ownership), came up with suggestion for an app to send disappearing photos.

Spiegel decided to tap Murphy, who had just graduated, to develop the app. It was originally named Picaboo.

After the company received a cease-and-desist letter from a photobook company of the name, they changed the app to "Snapchat." Spiegel called this the "biggest blessing ever.

"Evan and I got started Snapchat in the summer of 2011, basically understood that visual content that was the most engaging, interesting form of content there was. We wanted to create a way that would enable that to be a means of communication, rather than a piece of content around which communication actually happens," Murphy said during a Google Cloud Platform Live session in 2014.




Spiegel is the good-looking, outspoken public face of Snapchat, while Murphy, the chief technology officer (CTO), is the brains who developed the app.

Little is known about Murphy, who was described by Forbes, as the son of state employees from Berkeley.

"I’d describe him almost like a monk,” David Kravitz, Snapchat’s first employee, told Forbes in 2013. "I don’t think I’ve ever seen him upset."

source: www.abs-cbnnews.com

Who is still the richest man in the world, according to Forbes?

Bill Gates stands atop Forbes magazine's annual list of the world's richest people, as Facebook Inc's Mark Zuckerberg joined the top 20 and basketball star Michael Jordan plowed new air by making the list for the first time.

Gates' net worth rose to $79.2 billion from $76 billion a year earlier, putting the Microsoft Corp co-founder at the top for the 16th year in the last 21, Forbes said on Monday.

Mexico telecommunications mogul Carlos Slim Helu ranked second, worth $77.1 billion, while Berkshire Hathaway Inc chief Warren Buffett was third, at $72.7 billion.

Amancio Ortega, the Spanish founder of Inditex SA, which includes clothing retailer Zara, was fourth at $64.5 billion, while Oracle Corp Chairman Larry Ellison was fifth at $54.3 billion.

Buffett's fortune grew $14.5 billion from a year earlier, more than anyone's else, despite his having donated $2.8 billion to several charities last July.

Aliko Dangote, a Nigerian who became Africa's richest man through cement manufacturing and commodities such as flour and sugar, was the biggest loser, falling $10.3 billion to $14.7 billion.

Forbes identified a record 1,826 billionaires, up from 1,645 last year, worth a combined $7.05 trillion.

Of the record 197 women, the highest-ranked was Wal-Mart Stores Inc heiress Christy Walton, who was eighth at $41.7 billion.

France's Liliane Bettencourt, who got much of her wealth from cosmetics company L'Oreal SA, was 10th at $40.1 billion.

Zuckerberg, 30, rose to 16th place from 21st last year, as his net worth grew to $33.4 billion.

The youngest billionaires were Evan Spiegel, 24, and Bobby Murphy, 25, who co-founded mobile messaging app Snapchat, and are each worth $1.5 billion.

Meanwhile, Jordan ranked 1,741st with a $1 billion net worth. The 52-year-old is majority owner of the Charlotte Hornets basketball team, but is better known for his Hall of Fame playing days with the Chicago Bulls and endorsement contract with Nike Inc, which makes Air Jordan shoes.

Jordan's business manager did not immediately respond to a request for comment.

The United States had the most billionaires, with 536, followed by China at 213, Germany at 103 and India at 90.

Russia, which has struggled with currency and oil market turmoil, saw its collection of billionaires fall to 88 from 111, Forbes said.

source: www.abs-cbnnews.com

These 11 Pinoys are among world's richest

MANILA – Eleven Filipino billionaires made it to Forbes magazine's latest list of richest persons in the world.

The SM Group’s Henry Sy is still the richest Filipino with a net worth of $14.2 billion. He ranked number 73 among the richest billionaires in the world.

“His net worth has increased by 10 digits plus thanks to the continued growth of his SM Investments Corp, the largest retailer in the Philippines with over 200 individual outlets around the country. The firm is one of the country's largest conglomerates with interests in real estate development, shopping malls and banking,” Forbes said.

Second-richest Filipino is the founder of JG Summit Holdings, John Gokongwei Jr., who has a net worth of $5.8 billion.

Gokongwei, who ranks 254th richest in the world, has businesses in airlines, telecoms, property development, banking, hotels, and power.

The chairman and chief executive of International Container Terminal Services (ICTSI), Enrique Razon Jr., ranks 291st richest person in the world with a net worth of $5.2 billion.

ICTSI is the largest port operator in the Philippines, and operates a total of 29 ports across 21 countries.

Megaworld’s Andrew Tan is the Philippines’ fourth richest billionaire with a net worth of $4.8 billion. He ranks 330th in the world.

Aside from Megaworld, Tan is also the man behind the success of Emperador Distillers and Resorts World Manila.

LT Group’s Lucio Tan is the Philippines’ fifth richest billionaire and 369th in the world with a net worth of $4.4 billion.

LT Group owns Asia Brewery and has a stake in Philip Morris-Fortune Tobacco, which has an estimated 80 percent market share of the cigarette market in the Philippines.

Rounding up the list of riches Filipinos in the Forbes annual list are GT Capital’s George Ty ($4.4 billion; 369th); DMCI’s David Consunji ($4.1 billion; 405th); Jollibee’s Tony Tan Caktiong ($2.7 billion; 690th); Puregold’s Lucio and Susan Co ($2.3 billion; 810th); Prudential’s Robert Coyiuto Jr. ($1.8 billion; 1054th); and former senator and Vista Land founder Manuel Villar ($1.6 billion; 1190th).

World's richest

The title of world’s richest man still belonged to Microsoft co-founder Bill Gates, who has a current net worth of $79.2 billion, up from $76 billion in 2014.

Gates took the top spot for the second consecutive year, beating out telecom mogul Carlos Slim Helu, whose net worth increased to $77.1 billion from $72 billion last year.

Warren Buffett ($72.7 billion), Zara’s Amancio Ortega ($500 million), and Oracle’s Larry Ellison ($54.3 billion) closed out the five richest billionaires in the world.

Forbes said a record 1,826 billionaires made the list, higher than the 1,645 billionaires in 2014.

A record 290 billionaires were added to the list this year, beating out a previous high of 268 newcomers last year.

By countries, the US has the most number of billionaires with 536, followed by China with 213, Germany with 103, India with 90 and Russia with 88. Regionally, Asia-Pacific has the most billionaires with 562, followed by the US with 536, and Europe with 482.

The complete list is posted on www.forbes.com/billionaires.

source: ww.abs-cbnnews.com

Who are the 3 Filipinas on Forbes' Power Women list?

MANILA, Philippines - Three businesswomen from the Philippines were included in Forbes magazine's list of 50 most powerful businesswomen in Asia.

Teresita Sy Coson, vice chairman of SM Investments and chairman of BDO Unibank, was included in Forbes Asia's Power Businesswomen list for the fourth time in a row.

Sy-Coson, daughter of the Philippines' richest man Henry Sy, was cited for her vision for the family company.

"Under her lead SMIC became the largest listed company on the Philippine Stock Exchange by market cap," Forbes noted.

The 2015 Forbes Asia Power Businesswomen list includes 50 women from various industries in the region, including venture capitalism, construction, malls, telecommunications and retail.

Helen Yuchengco Dee, chairman of Rizal Commercial Banking Corp., also made it to the Forbes list. She was cited for leading the Yuchengco group of companies which includes RCBC, non-life insurance firm Malayan Insuance and construction firm EEI.

Yuchengco-Dee, the eldest of 8 children of tycoon Alfonso Yuchengco, was quoted by Forbes as saying she is "more conservative than her risk-taking father, now 92."

The Yuchengo family ranks 23rd on the Forbes Asia rich list for the Philippines, with an estimated net worth of $685 million.

Zenaida Rustia-Tantoco, chairman and CEO of SSI Group and Rustan's Commercial, is the third Filipina in Forbes Asia's Power Businesswoman list. SSI, which listed on the Philippine Stock Exchange last year, is the specialty retail arm of Rustan's group.

"With more than 700 sales outlets in 69 malls nationwide, including the upscale Rustan’s department stores, Tantoco is poised to build further on what her parents founded 60-plus years ago," Forbes said.

Among the top businesswomen on Forbes Asia's Power Women list are Singapore’s Temasek executive director and CEO Ho Ching, MGM China co-chairman Pansy Ho, Huawei Technologies chairman Sun Yafang, Australia's Hancock Prospecting executive chairman Gina Rinehart and Thailand's Central Department Store Group CEO Yuwadee Chirathivat.

On the cover of the Forbes Asia issue is newcomer to the list Noni Purnomo, the president director of Blue Bird Group Holding, the largest taxi company in Indonesia.

Businesswomen from China and Hong Kong once again dominated the list with 14, followed by India with six, Thailand with five and Singapore with four. South Korea, Australia, the Philippines and Indonesia each have three, while Japan and Vietnam each have two.

source: www.abs-cbnnews.com