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Billionaires including Amazon’s Jeff Bezos and Tesla founder Elon Musk have seen their wealth soar during the Covid-19 pandemic while the world’s poor face years of hardship, charity Oxfam said on Monday as it demanded steps to tackle inequality.
France is preparing incentives for consumers to shift spending habits to used electronics, in an attempt to lower the impact on the environment and provide a boost to local e-commerce startups.
The fast-growing wealth of four technology magnates provides a breathtaking measure of their companies’ economic might.
Jeff Bezos’s net worth has smashed through its previous peak, even after he relinquished a quarter of his stake in Amazon.com Inc as part of a divorce settlement last year.
Mark Zuckerberg just became US$7.2bil (RM30.86bil) poorer after a flurry of companies pulled advertising from Facebook Inc’s network.
The continuing rout in global stocks obliterated about US$4tril (RM17.32tril) of market value Monday, but one tech billionaire is managing to avoid the onslaught as social distancing becomes the norm.
Last week Swiss luxury watchmaker Tag Heuer hosted a final shindig in honour of its new Connected Watch.
Jeff Bezos remains the world’s richest person, ahead of Bill Gates and Warren Buffett, according to the latest Forbes list of the ultra wealthy, while far behind US President Donald Trump jumped 51 spots in the ranking.
Xavier Niel is in demand these days. The founder of French telecommunication group Iliad SA joined technology icons including Facebook founder Mark Zuckerberg and dozens of other top executives at a meeting with President Emmanuel Macron at the Elysee Palace last week.
France's LVMH is fostering projects by entrepreneurs in the luxury goods sector, including a startup working with silkworms on new materials and another whose software might help detect counterfeits.