Latest news with #US6.4
Sydney Morning Herald
17 hours ago
- Business
- Sydney Morning Herald
Wall Street surge makes billionaire CEO one of the richest women in the world
In the artificial intelligence gold rush, even pick-and-shovel companies like Arista Networks are seeing their fortunes swell. The hardware provider's shares have more than doubled since April, reaching an all-time high last week. Arista's run has made its chief executive officer, Jayshree Ullal, 64, one of the richest women in the world with a $US6.4 billion ($9.8 billion) fortune and among only a handful of non-founder executives to achieve that level of wealth, according to the Bloomberg Billionaires Index. She owns a 3 per cent stake in the company through trusts for herself, her children and a niece and nephew. The rise in Arista's stock has also pushed co-founder and chief technology officer Ken Duda, 54, to a $US1.2 billion net worth, according to Bloomberg's wealth list, joining fellow co-founders Andy Bechtolsheim, 69, and David Cheriton, 74, in that exclusive club. A spokesperson for California-based Arista declined to comment. Another runaway year could boost Ullal into the ranks of the world's 500 richest people after the networking company reported second-quarter earnings on Tuesday that beat analysts' estimates and raised its full-year revenue growth guidance. Loading 'The company is very much built by engineers for engineers,' Ullal said in a 2020 interview hosted by Notre Dame University. 'You may think, obviously that's how it should be. But you'd be surprised how people lose track of that.' Networking network Duda, Bechtolsheim and Cheriton worked together at Granite Systems, a startup co-founded by Cheriton, a Stanford University professor, and Bechtolsheim, who had founded Sun Microsystems before leaving in the 1990s. A software engineer known for his technical acumen, Duda studied computer science and electrical engineering at Massachusetts Institute of Technology and Stanford.
Sydney Morning Herald
18 hours ago
- Business
- Sydney Morning Herald
The stock surge that has made billionaire CEO one of the richest women in the world
In the artificial intelligence gold rush, even pick-and-shovel companies like Arista Networks are seeing their fortunes swell. The hardware provider's shares have more than doubled since April, reaching an all-time high last week. Arista's run has made its chief executive officer, Jayshree Ullal, 64, one of the richest women in the world with a $US6.4 billion ($9.8 billion) fortune and among only a handful of non-founder executives to achieve that level of wealth, according to the Bloomberg Billionaires Index. She owns a 3 per cent stake in the company through trusts for herself, her children and a niece and nephew. The rise in Arista's stock has also pushed co-founder and chief technology officer Ken Duda, 54, to a $US1.2 billion net worth, according to Bloomberg's wealth list, joining fellow co-founders Andy Bechtolsheim, 69, and David Cheriton, 74, in that exclusive club. A spokesperson for California-based Arista declined to comment. Another runaway year could boost Ullal into the ranks of the world's 500 richest people after the networking company reported second-quarter earnings on Tuesday that beat analysts' estimates and raised its full-year revenue growth guidance. Loading 'The company is very much built by engineers for engineers,' Ullal said in a 2020 interview hosted by Notre Dame University. 'You may think, obviously that's how it should be. But you'd be surprised how people lose track of that.' Networking network Duda, Bechtolsheim and Cheriton worked together at Granite Systems, a startup co-founded by Cheriton, a Stanford University professor, and Bechtolsheim, who had founded Sun Microsystems before leaving in the 1990s. A software engineer known for his technical acumen, Duda studied computer science and electrical engineering at Massachusetts Institute of Technology and Stanford.
The Age
18 hours ago
- Business
- The Age
Wall Street surge makes billionaire CEO one of the richest women in the world
In the artificial intelligence gold rush, even pick-and-shovel companies like Arista Networks are seeing their fortunes swell. The hardware provider's shares have more than doubled since April, reaching an all-time high last week. Arista's run has made its chief executive officer, Jayshree Ullal, 64, one of the richest women in the world with a $US6.4 billion ($9.8 billion) fortune and among only a handful of non-founder executives to achieve that level of wealth, according to the Bloomberg Billionaires Index. She owns a 3 per cent stake in the company through trusts for herself, her children and a niece and nephew. The rise in Arista's stock has also pushed co-founder and chief technology officer Ken Duda, 54, to a $US1.2 billion net worth, according to Bloomberg's wealth list, joining fellow co-founders Andy Bechtolsheim, 69, and David Cheriton, 74, in that exclusive club. A spokesperson for California-based Arista declined to comment. Another runaway year could boost Ullal into the ranks of the world's 500 richest people after the networking company reported second-quarter earnings on Tuesday that beat analysts' estimates and raised its full-year revenue growth guidance. Loading 'The company is very much built by engineers for engineers,' Ullal said in a 2020 interview hosted by Notre Dame University. 'You may think, obviously that's how it should be. But you'd be surprised how people lose track of that.' Networking network Duda, Bechtolsheim and Cheriton worked together at Granite Systems, a startup co-founded by Cheriton, a Stanford University professor, and Bechtolsheim, who had founded Sun Microsystems before leaving in the 1990s. A software engineer known for his technical acumen, Duda studied computer science and electrical engineering at Massachusetts Institute of Technology and Stanford.
Sydney Morning Herald
04-07-2025
- Business
- Sydney Morning Herald
Trump's $942 million windfall reshapes his fortune
On the surface, Donald Trump's personal net worth looks remarkably unchanged since retaking the White House: $US6.5 billion ($9.9 billion) on election day, $US6.4 billion now. But digging deeper into the figures reveals an unprecedented and unmistakable shift in how he and his family are buttressing their empire — and how much more quickly they stand to potentially profit from their fame, influence and power. Whether it's putting their brand on real estate projects or attaching it to perfumes and mattresses, licensing deals have long been used by the Trump family to make money fast compared with the years of planning and execution needed in real estate development. But with crypto, the Trumps can turbocharge the monetisation of their name. Combined with loosened constraints on foreign dealmaking in the second Trump administration, it has been a bonanza. Crypto ventures have added at least $US620 million ($942 million) to Donald Trump's fortune in the span of months, according to the Bloomberg Billionaires Index, which is valuing his family's earnings from projects like World Liberty Financial and the Trump memecoin for the first time. The money made from an expanding line-up of virtual tokens and obscure companies deriving their value largely from their association with the president and his MAGA movement dwarfs the more than $US34 million the Trump Organisation reported taking in from real estate licensing deals last year. 'I am incredibly proud of our wonderful company,' said Eric Trump, executive vice president of the Trump Organisation. 'We have never been stronger.' Loading While the president's assets are in a trust administered by Donald Trump Jr, he continues to personally benefit from the success of the Trump Organisation, and Bloomberg's wealth index rolls up the family's various interests to the patriarch. For now, many private ventures that Trump's children are engaged in haven't been included because the details of their financial interests couldn't be determined, including the private club Executive Branch in Washington, Japanese hotel company-turned-Bitcoin stockpiler Metaplanet, radio and podcasting outfit Salem Media, prediction-market startup Kalshi and online drug retailer BlinkRX. For as much as Trump and his children are wading into crypto — Eric and Don Jr have spoken, sometimes independently and sometimes together, at events in Abu Dhabi, Washington, Dubai and Las Vegas since December alone — one of the biggest boosts to his personal fortune has been a project close to home that was years in the making.
Sydney Morning Herald
02-07-2025
- Business
- Sydney Morning Herald
Trump's $942 million crypto windfall reshapes his fortune
On the surface, Donald Trump's personal net worth looks remarkably unchanged since retaking the White House: $US6.5 billion ($9.9 billion) on Election Day, $US6.4 billion now. But digging deeper into the figures reveals an unprecedented and unmistakable shift in how he and his family are buttressing their empire — and how much more quickly they stand to potentially profit from their fame, influence and power. Whether it's putting their brand on real estate projects or attaching it to perfumes and mattresses, licensing deals have long been used by the Trump family to make money fast compared with the years of planning and execution needed in real estate development. But with crypto, the Trumps can turbocharge the monetisation of their name. Combined with loosened constraints on foreign dealmaking in the second Trump administration, it has been a bonanza. Crypto ventures have added at least $US620 million ($942 million) to Donald Trump's fortune in the span of months, according to the Bloomberg Billionaires Index, which is valuing his family's earnings from projects like World Liberty Financial and the Trump memecoin for the first time. The money made from an expanding lineup of virtual tokens and obscure companies deriving their value largely from their association with the president and his MAGA movement dwarfs the more than $US34 million the Trump Organisation reported taking in from real estate licensing deals last year. 'I am incredibly proud of our wonderful company,' said Eric Trump, executive vice president of the Trump Organisation. 'We have never been stronger.' Loading While the president's assets are in a trust administered by Donald Trump Jr., he continues to personally benefit from the success of the Trump Organisation, and Bloomberg's wealth index rolls up the family's various interests to the patriarch. For now, many private ventures that Trump's children are engaged in haven't been included because the details of their financial interests couldn't be determined, including the private club Executive Branch in Washington, Japanese hotel company-turned-Bitcoin stockpiler Metaplanet, radio and podcasting outfit Salem Media, prediction-market startup Kalshi and online drug retailer BlinkRX. For as much as Trump and his children are wading into crypto — Eric and Don Jr. have spoken, sometimes independently and sometimes together, at events in Abu Dhabi, Washington, Dubai and Las Vegas since December alone — one of the biggest boosts to his personal fortune has been a project close to home that was years in the making.
