Billionaires

Lang Walker AO, a titan of the Australian property development industry and a noted philanthropist, has passed away at the age of 78.

French billionaire Bernard Arnault—owner of luxury brands like Louis Vuitton and Sephora—is now the richest man in the world.

Billionaires around the world are now US$3.3 trillion (AU$5 trillion) richer than they were in 2020, with their wealth growing three times as fast as the rate of inflation, Oxfam’s Inequality Inc report has revealed.

As of January 1, the 10 richest people on the planet are worth nearly $1.47 trillion—$30 billion more than a month earlier. And Facebook founder Mark Zuckerberg has overtaken Bill Gates to become the world’s fifth richest person.

At age 21, Zhang Hongchao started peddling shaved ice treats. A quarter of a century later, he and his younger brother Hongfu have made a fortune selling soft-serve ice cream, coffee drinks and its super popular bubble tea and lemonade.

LVMH, the luxury fashion and alcohol giant owned by billionaire Bernard Arnault, named the owner’s 29-year-old son Frederic Arnault as head of the company’s watch division—joining his siblings in a senior leadership role at the family business.

The billionaire opened up to Forbes last year about his plans for a big shake up, citing changes in his family life.

If Curtis Priem, Nvidia’s first CTO, had held onto all his stock, he’d be the 16th richest person in America. Instead, he sold out years ago and gave most of his fortune to his alma mater Rensselaer Polytechnic Institute.

How Sam Bankman-Fried’s possible 110 year sentence stacks up against other ex-billionaires and billionaires who’ve served time.

John Paul DeJoria went from living out of a car to becoming a shampoo and tequila billionaire. Some forty years after he struck it rich, he shares investing wisdom he’s gained along the way.