HONG KONG - Tumbling stocks, credit and trade worries, and a falling yuan have battered the wealth of China's richest people this year, with 93 of the listees on last year's Forbes China Rich List dropping out of the ranks altogether in the 2018 edition. More than three-quarters of the ultra-rich on last year's list witnessed a decline in their net worth, according to Forbes, and of those who remained, 229 are now poorer than they were a year ago. Nearly a third saw declines of 20 per cent or more in their wealth. And while all 400 of the tycoons on last year's list were worth more than US$1 billion (S$1.38 billion), the cut-off dropped to US$840 million this year, with just 344 of the 400 listees enjoying a fortune greater than US$1 billion. E-commerce giant Alibaba's Jack Ma returned to the top of the list for the first time since 2014 with a net worth of US$34.6 billion, down US$4 billion, compared to a year ago. He traded places with real estate firm China Evergrande's Hui Ka Yan, … [Read more...] about Alibaba’s Jack Ma back on top of Forbes China Rich List as tanking stocks batter billionaires
Million dollar listing sf
I asked everyone from a billionaire tech founder to a former Navy SEAL commander what it means to be successful, and money was only an afterthought
caption Success isn’t just about money. From left to right: former Navy SEAL commander Jocko Willink, Ellevest founder Sallie Krawcheck, OKCupid founder Sam Yagan. source Sarah Jacobs/Business Insider; Hollis Johnson/Business Insider; Samantha Lee/Business Insider When success is discussed in terms of careers, it’s often referring to wealth and influence. But after many interviews with people at the top of a wide range of industries, we’ve realized that those metrics don’t mean much on their own. We’ve compiled our favorite answers to the question at the heart of Business Insider’s podcast “This Is Success”: How do you personally define success? We start by examining the nature of attaining it with a reply from LinkedIn’s billionaire cofounder Reid Hoffman, and then explore how people from former Navy SEAL commander Jocko Willink to media mogul Tina Brown measure success in their lives. Read some of our favorite … [Read more...] about I asked everyone from a billionaire tech founder to a former Navy SEAL commander what it means to be successful, and money was only an afterthought
Go inside the hottest neighborhood in San Francisco, where home prices have appreciated over 110% in the last 6 years
caption Everything the light touches is Bernal Heights. source Melia Robinson/Business Insider For a long time, Bernal Heights was the best kept secret in San Francisco real estate. Short commutes into downtown, relatively affordable homes, and panoramic hilltop views made it a desirable place for artists, musicians, and tech workers to settle down. But the residential enclave located south of the city’s Mission District and Noe Valley has seen a surge in popularity in recent years, causing home prices to appreciate 111% over the past six years. The median sales price for a two-bedroom abode is $1.58 million. In 2014, real-estate site Redfin named the north slope of Bernal Heights, an area that’s densely packed with million-dollar homes, the hottest neighborhood in America based on increases in search traffic to local listings. I spent an afternoon in Bernal Height’s northern end to see what the buzz is about. Bernal Heights has a small town … [Read more...] about Go inside the hottest neighborhood in San Francisco, where home prices have appreciated over 110% in the last 6 years
San Francisco’s housing market is so competitive that a massive wedge of rock selling for $1 million is actually a bargain
caption The rock has served in the past as a rock quarry, providing its material for city establishments like City Hall and the Waterfront. source Google Street View A sale on a 7,000-square-foot block of rock in San Francisco is pending for almost $1 million. A potential 12 new homes in one of the city’s most exclusive neighborhoods are able to be built upon the property, which would take some hefty engineering and a mighty price tag. Still, by San Francisco standards, that’s a bargain. Many would raise an eyebrow at a massive block of rock selling for $1 million. But in San Francisco, that’s actually a bargain. The city’s infamously overheated real-estate market is one of the most competitive in the nation as San Franciscans and non-residents alike try to get their hands on a piece of land in the seven-by-seven square mile city. One such piece of land, a 7,000-square-foot towering heap of rock, in the city’s Telegraph Hill … [Read more...] about San Francisco’s housing market is so competitive that a massive wedge of rock selling for $1 million is actually a bargain
23 lesser-known cofounders of the biggest tech companies, and where they are now
source Joi Ito/Flickr When a tech company reaches a certain level of success, the names of the founders often become synonymous with the brand they create. At least, that’s the case with founders who are the “face” of the company. Still, we tend to forget that Steve Jobs, Travis Kalanick, and Bill Gates, didn’t create Apple, Uber, and Microsoft alone. On the contrary, these companies might not exist in the same capacity if it weren’t for the co-founders who fly under the radar because they chose to steer clear of the spotlight, or because the pressures brought on by the early years of a quickly-growing company pushed them away. Many of these same people have moved on to create even more multi-million dollar ideas, while others left for a life of philanthropy, or pursued another passion. Here are the lesser known co-founders who helped create some of the biggest tech companies you definitely know: Apple … [Read more...] about 23 lesser-known cofounders of the biggest tech companies, and where they are now