Norwegian teenager Alexandra Andresen is the world’s youngest billionaire. Heir to a family fortune built on tobacco, she debuts among the 2016 World’s Billionaires thanks to her stake in investment company, estimated to be worth at $1.2 billion. Fresh out of high school, Alexandra is one of the most promising horseback riders in Norway, collecting trophies from competitions across Europe. (independent.co.uk)
Business
3 Productivity Tips You Can Start Immediately
Dorie Clark from Havard Business Review shows us 3 secrets to productivity that you can start immediately that make productivity habitual and lasting:
- Productivity means optimizing your entire life, not just work
- Match the task to the amount of focus necessary to accomplish it
- Use short bursts of time well
For instance, instead of reading about personal finance alone, if you share what you learn about saving and investing with friends and coworkers, you are simultaneously benefiting your personal finance knowledge, your sense of community and your professional life. Clark explains, “the secret to productivity is sustaining your commitment and keeping up your discipline over time. By understanding what productivity really means to you, matching your energy to the task at hand, and leveraging even short amounts of free time, you can make serious progress on the most important goals.” (hbr.org)
More Expensive to Visit Disney World
Plan to take your family for a trip to Disney World during July 4th or Christmas season? You might be better off to schedule your visit to the theme parks during non-peak periods. Christopher Palmeri writes that Disney’s six parks in Orlando, Florida, and Anaheim, California, are raising the cost to visit its theme parks as much as 20 percent during the busiest times of year and lowering them on typically slow days. Disney is expecting bigger crowds once the upcoming Star Wars theme park expansion is completed. With the dynamic pricing, customers are financially incentivized to choose less-busy days and Disney will make as much money as possible on days when the park is full. (bloomberg.com)
China Buying Up American Companies at Record Rate
Business Insider reports that Chinese companies have been buying up American businesses at a record rate and it’s freaking lawmakers out. “To date, there have been 102 Chinese outbound mergers-and-acquisitions deals announced this year, amounting to $81.6 billion in value, according to Dealogic. That’s up from 72 deals worth $11 billion in the same period last year. And they’re not expected to let up anytime soon.” (businessinsider.com)
Corruption Caused $20-Billion Hole in Africa’s Largest Economy
Worldwide the cost of corruption equals more than 5% of global GDP. In Nigeria, Africa’s largest economy where easy access to oil revenues opens the door to corruption, a respected former central-bank governor lost his job after claiming that $20 billion had been stolen. Most Nigerians live in poverty, and millions would be spared if officials stopped pilfering from the public purse. In fact, Nigeria ranks 32nd from the bottom of 168 countries surveyed by Transparency International. According to an analysis by PricewaterhouseCoopers, corruption in Nigeria could cost up to 37% of GDP by 2030 if it’s not dealt with immediately. This cost is equated to around $1,000 per person in 2014 and nearly $2,000 per person by 2030. (economist.com)
Oil driller cut 25,000 jobs, paid CEO $18 million
Chris Isidore writes on CNN Money: “2015 was a tough year for oil driller Schlumberger. Unless you were the CEO. CEO Paal Kibsgaard received total compensation worth $18.3 million in 2015, the company reported, down only slightly from $18.5 million the year before. The rest of Schlumberger didn’t fare so well. The company cut 25,000 jobs during the year, or 20% of its workforce. Schlumberger is the first major company in the oil industry to report executive pay for 2016.” (cnn.com)
Billionaire Wastes $500 Million for Two Paintings
Billionaire Ken Griffin just paid $500 million for two paintings by Abstract Expressionist masters in one of the largest private art deals ever. For most of the people on earth, it is just a waste of money to spend on paintings. Indeed, beauty is in the eye of the beholder. With $500 million, instead of spending on paintings, he can get 71,429 wells to serve about 143 million people in Africa through Water Wells for Africa, or he can get 100 Lamborghini Veneno Roadsters. (bloomberg.com)
Whole Foods To Attract Shopper by Open Tattoo Parlor Alongside Groceries
As Whole Foods starts to loose customers to other organic-good supermarkets like Kroger and Trader Joe’s, they plan to open tattoo parlor for its new 365 stores alongside groceries. The idea is to attract younger shoppers, the Millennial generation. As more and more people discover Aldi as the place to shop for groceries with rock-bottom prices, it will make business environment harder for Whole Foods. If you buy groceries, would you shop at place solely dedicate to groceries with good prices and fresh items or shop at Whole Foods with tattoo parlor? (latimes.com)
99 Cent Gas On the Way?
According to GasBuddy, more than 50 Oklahoma stations already sell gas for under $1.15 per gallon. Some station even sell gas at $1.11 and we might see 99 cent gas on the way. The national price for an average gallon of gas is still at $1.72. But the International Energy Agency (IEA) report that global oil demand growth is considerably stalling out due to slowdowns in Europe, China and the United States. AAA experts also agree that in the near term gas prices are likely to remain close to their lowest price point since the Great Recession. (247wallst.com)
Introducing “Guides to Start a Blog” on Personal Finance News
Personal Finance News is built upon a rich community of personal finance bloggers. We feature user-submitted stories about personal finance news of the day. The more personal finance bloggers the better our community are. If you are thinking about starting a blog, here are some excellent guides by other personal finance bloggers to help you starting your own blog. Once you have set up your website and start blogging, please feel free to submit news to us with a short summary so we can share the stories to help more people about personal finance. If you don’t own a personal finance blog, you can still submit news to us whenever you stumble upon an interesting personal finance news. (Guides to Start a Blog)
Politics and Investing Don’t Mix
Mike Piper, a personal finance blogger at Oblivious Investor, warns investors about “the exploitation of a person’s political views in order to instill fear and, ultimately, sell undesirable financial products. The pitch goes something like this: [Political event X] just happened or is likely to happen. As a result, the economy will take a nosedive. You should buy my product to protect yourself.” The technique is so popular that no matter if you are Democrat or Republican, it can be used to trick you to buy the financial products such as gold, annuity, active funds or market-timing newsletter. (obliviousinvestor.com)
Google CEO Receives $199 Million Stock Perk
The median American household income was $53,657, while CEO pay had risen to an average of $16,316,000. But Google CEO is on another level. This year Google CEO Sundar Pichai will receive $199 million in restricted stock. Google typically grants the stock perks to executives every couple years to “encourages executives to take a long-term view of the business.” (bloomberg.com)
7 Sentences Successful People Never Say
After studying more than a thousand millionaires over three decades, Steve Siebold, author of “How Rich People Think,” find out that successful people never say these 7 sentences:
- “I hate my job”
- “That’s not fair”
- “That’s not how it’s done here”
- “That’s not my job”
- “That’s impossible”
- “I could have”
- “I have no choice”
Banks are Scare That AI Disrupting Financial Advisers
Not only Millennials and small investors are using robo-advisers, but wealthy clients are drawn into AI investing technology, which use computer programs to provide investment advice online. That scares banks, and that’s one of the reason they are pushing to release their own versions of the automated investing technology to compete in the new robo-advising environment. It will be good for customers as the fees will go down gradually. Robo-advisers normally charge less than half the fees of traditional brokerages, which cost at least 1 percent of assets under management. (bloomberg.com)
Zuckerberg Tops Bezos as World’s Fourth Richest
Mark Zuckerberg became the world’s fourth-richest person on Tuesday. “The 31-year-old founder of the largest social network had a $50 billion fortune by the close of regular trading in New York. That vaulted him above America Movil SAB’s Carlos Slim and Amazon.com Inc.’s Jeff Bezos on the Bloomberg Billionaires Index, a daily ranking of the world’s 400 richest people.” Out of the top 10 wealthiest billionaires on Earth, half of them have made their fortunes in technology. (bloomberg.com)
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