Showing posts with label Fortune Magazine. Show all posts
Showing posts with label Fortune Magazine. Show all posts

Tuesday, August 1, 2017

Serena serves ace for black women's equal pay


NEW YORK -- Serena Williams served up a rallying cry for equal pay for black women Monday, decrying that they would have to work on average eight months longer to earn the same as male counterparts in one year.

The record-breaking tennis star and world's highest paid female athlete -- who has spoken candidly about sexism and racism -- wrote a nearly 1,000-word essay in Fortune magazine to mark Black Women's Equal Pay Day.

For every dollar made by a man, black women make 63 cents in the United States. Black women earn 17 percent less than white women, and black women with graduate degrees get paid less at every level, wrote Williams.

The 23-time Grand Slam singles champion quoted data showing that only 44 percent of white men recognize the pay gap as an issue.

"I have been treated unfairly, I've been disrespected by my male colleagues and -- in the most painful times -- I've been the subject of racist remarks on and off the tennis court," wrote the 35-year-old.

"The cycles of poverty, discrimination, and sexism are much, much harder to break than the record for Grand Slam titles," she added, calling for legislation and action to change the status quo.

Williams, who announced her engagement to Reddit co-founder Alexis Ohanian last December, is pregnant with her first child. She plans to return to competitive tennis next year.

"Black women: Be fearless. Speak out for equal pay. Every time you do, you're making it a little easier for a woman behind you," she said.

"Most of all, know that you're worth it. It can take a long time to realize that. It took me a long time to realize it. But we are all worth it. I've long said, 'You have to believe in yourself when no one else does.'"

Forbes ranks Williams as the highest earning female athlete with a pay check of $27 million -- but only 51st on an overall list of highest paid athletes. Forbes ranks Roger Federer as the world's highest paid tennis star at $64 million.

"Black women are the cornerstone of our communities, they are phenomenal, and they deserve equal pay," Williams tweeted Monday with a picture of herself wearing a T-shirt saying "Phenomenal Woman."

source: news.abs-cbn.com

Friday, June 5, 2015

And the biggest company in the US is...


NEW YORK - Walmart kept its lock on the top ranking of the Fortune 500 annual list of the largest US companies Thursday, while Apple was the most profitable and Facebook the most upward-bound, Fortune Magazine announced.

Retail behemoth Wal-Mart Stores remained in the number one spot for the third year in a row, based on company revenues last year of $485.6 billion.

The put it ahead of number-two ExxonMobil, with $382.6 billion, and then Chevron, Berkshire Hathaway and Apple, in a top five ranking that was unchanged from 2014.

The biggest jump was notched by Facebook, which climbed from 341 to 242. New entrants included emerging tech heavyweights Salesforce.com, Netflix and Expedia.

While Walmart was the largest by revenues, Apple's $39.5 billion in profits led the pack, followed by Exxon with $32.5 billion. Microsoft, Google, IBM, Intel and Oracle all placed in the top 20 in profits while outside the top 20 by revenue.

The companies in the Fortune 500 had total revenues of $12.5 trillion in 2014, up 2.6 percent from last year and an all-time record.

Total profits were down 12.6 percent to $945 billion.

source: www.abs-cbnnews.com

Friday, March 27, 2015

Apple chief Tim Cook will give away all his money - report


Apple Inc Chief Executive Tim Cook is joining the roster of the very rich who are giving away their wealth.

Fortune magazine cited the head of the world's largest technology corporation as saying he planned to donate his estimated $785 million fortune to charity - after paying for his 10-year-old nephew's college education.

"You want to be the pebble in the pond that creates the ripples for change," Cook told the magazine.

Fortune estimated Cook's net worth, based on his holdings of Apple stock, at about $120 million. He also holds restricted stock worth $665 million if it were to be fully vested.

The 54-year-old CEO's revelation in Fortune's lengthy profile of him is an example of the increasingly public philanthropy of the world's richest people.

Billionaire financier Warren Buffett is encouraging the very wealthy to give away at least half their worth in their lifetimes through the "Giving Pledge," whose website lists such luminaries as Microsoft Corp's Bill Gates, Mark Zuckerberg of Facebook Inc and Oracle Corp's Larry Ellison.

While Cook's largesse could not begin to approach the scale of a Gates or Zuckerberg, both worth billions of dollars, the Apple CEO told Fortune he hopes to make a difference.

Cook, who is not listed on the website, is known as an intensely private person who shuns the spotlight on philanthropy.

In recent years, however, he has begun speaking out more openly about issues ranging from the environment to civil rights. Cook, who recently revealed he was gay, spoke out against discrimination of the lesbian, gay, bisexual and transsexual communities during his induction into the Alabama Academy of Honor last year.

He told Fortune he has started donating money to unspecified causes quietly and is trying to develop a more "systematic approach" to philanthropy that goes beyond writing checks.

source: www.abs-cbnnews.com