Latest news with #World'sBillionairesList
Sinar Daily
7 days ago
- Business
- Sinar Daily
Singapore paint tycoon Goh Cheng Liang dies at 98
Singapore paint and coatings maker Wuthelam Group, also founded by Goh, is the controlling shareholder of Japan's Nippon Paint Holdings, according to Forbes. 12 Aug 2025 04:42pm Singapore billionaire and founder of NIPSEA Group, Goh Cheng Liang, died on Tuesday at the age of 98. - Photo: Forbes (courtesy of Goh's family) SINGAPORE - Singapore billionaire and founder of NIPSEA Group, Goh Cheng Liang, died on Tuesday at the age of 98. The group in a statement said Goh "passed away peacefully earlier today, surrounded by his loved ones.' Goh, who had an estimated net worth of US$13 billion, was the richest Singaporean on Forbes' annual World's Billionaires List released in early April this year. Singapore paint and coatings maker Wuthelam Group, also founded by Goh, is the controlling shareholder of Japan's Nippon Paint Holdings, according to Forbes. Born in 1927, Goh grew up in a modest shophouse with his parents and four siblings before eventually launching his own paint business under the Pigeon Brand. His partnership with Nippon Paint Holdings in 1962 laid the foundation for the global presence it enjoys today. "Guided by his vision, the business expanded beyond Singapore and across Asia,' said NIPSEA Group, adding that he had transformed the company into Asia's largest and the world's fourth-largest paint manufacturer, with 148 companies across 28 geographical locations. Beyond business, Goh was a renowned philanthropist. He established the Goh Foundation to support causes close to his heart, particularly in healthcare and medical research. He also played a vital role in advancing cancer care in Singapore, supporting the National Cancer Centre Singapore and the Goh Cheng Liang Proton Therapy Centre, among others. Goh also contributed to institutions such as KK Women's and Children's Hospital, National University Hospital, and Singapore General Hospital's ARiSE programme. - BERNAMA
India.com
24-07-2025
- Business
- India.com
This Indian owned flats in Burj Khalifa, private jets, had Rs 18000 crore net worth, went bankrupt due to single tweet, was forced to sell Rs 12400000000000 firm for Rs 74, he is..
Luck plays an important role in our lives. Sometimes, even a ragpicker becomes a millionaire, whilst even the richest person can lose everything and become a beggar. And BR Shetty's story is one prime example. Once an Indian billionaire, who owned two floors in Burj Khalifa and private jets, had Rs 18000 crore net worth, was forced to sell his Rs 124000 crore firm for just Rs 74 due to…; well, read the story to know more about him. Who is this Indian Billionaire who suddenly went bankrupt, sold his Rs 124000 crore firm for just Rs 74? Bavaguthu Raghuram Shetty, famously known as BR Shetty, was born on August 1, 1942, into a lower middle-class family in Udupi, then part of the Madras Presidency during the British Raj (in what is now Karnataka). BR Shetty emerged as one of the world's wealthiest people, featuring on Forbes' India's 100 Richest People list in 2015, and was ranked 42nd in 2019. According to Forbes, he secured 804th position in the 'World's Billionaires List, The Richest In 2019' list. BR Shetty worked as a medical representative, and in 1973, at the age of 31, took the plunge to leave India for Dubai, UAE. Media reports suggest that he arrived in Dubai with just $8 and spent the initial days as a door-to-door salesman or selling medicines. However, in just a brief period, BR Shetty made connections with a small number of wealthy and influential individuals, and just a couple of years later, started up the New Medical Center Health (NMC), the first private healthcare provider company in the UAE, in Dubai. NMC Healthcare is the UAE's largest private healthcare network and the third largest healthcare network in Oman. Explaining Shetty's lifestyle is not surprising when he owned private jets, Rolls-Royce cars, and multiple luxury properties, including two floors in the Burj Khalifa (Dubai). He even founded companies like New Medical Centre (NMC), UAE Exchange, and Finablr, built a multi-billion empire in just a few years. Dr. Chandrakumari Raghuram Shetty is a well-respected medical expert in her own field. She has contributed immensely to both the establishment and growth of NMC Health. With her husband's (Dr. B.R. Shetty) venture, she was the first medical professional to step into his first medical center's role back in 1975. She contributed as the first resident doctor and was pivotal in constructing the clinical structure of NMC. She was the first resident doctor of the company and had an important role in the development of its clinical framework and finally became the Group Medical Director at NMC Health. However, his empire came tumbling down when U.S.-based financial research firm Muddy Waters Research called him out in 2019 for hiding $1 billion in debt from investors. This ultimately led to the total collapse of his entity and he subsequently sold his company for just Rs 74. In 2019, when he was at the height of his successes, B.R. Shetty's net worth was estimated at $3.15 billion – making him one of India's richest billionaires according to Forbes. When at his pinnacle, B.R. Shetty's net worth reached $3 billion (approximately Rs 20,000 crore).
Indian Express
09-07-2025
- Business
- Indian Express
Top 10 richest heirs in the world 2025: The only Indian on the list turned his $2.8 bn inheritance into $200 bn empire
Top 10 richest heirs in the world 2025: For most parents, the grandest gift they might hope to give their children is a car or a college education. But among the ultra-wealthy, inheritances often take the form of billion-dollar empires. Roughly one-third of the 3,028 billionaires on Forbes' 2024 World's Billionaires List inherited at least part of their fortune. Collectively, these 990 billionaire heirs are worth a staggering $5.3 trillion — $56 billion more than last year. While their total wealth has grown, they now make up a slightly smaller share of the list (33 per cent, down from 34 per cent) as new self-made billionaires continue to rise. At the top are the three heirs of Walmart founder Sam Walton – Rob, Jim and Alice – who inherited their stake in the retail giant and took different paths. Each of them are now worth over $100 billion. Rob and Jim served long stints on the company's board, while Alice focused on philanthropy and the arts. Together with other relatives, the Walton family controls nearly 45 per cent of Walmart. Around 60 per cent of the heirs on this year's list are actively expanding their fortunes, either by running inherited firms or launching new ventures. India's richest man, Mukesh Ambani ($92.5 billion), is a prime example. After his father's passing in 2002, Ambani inherited a $2.8 billion stake in Reliance Industries. Today, he's grown it into a $200 billion empire spanning petrochemicals, telecom, and retail. And the heirs are getting younger, too — every one of the world's 14 youngest billionaires inherited their wealth. The youngest – Johannes von Baumbach, 19 – is now worth $5.4 billion through his stake in German pharma giant Boehringer Ingelheim. Dieter Schwarz, 85, is one of Germany's most private yet powerful business figures. He is the effective owner and former CEO of the Schwarz Group, the parent company behind retail giants Lidl and Kaufland. Schwarz joined the family business under his father Josef Schwarz, who had originally transformed a fruit wholesaling operation into a broader retail venture. In 1973, Dieter opened the very first Lidl store, laying the foundation for what would become one of the largest supermarket chains in Europe. Since then, the Schwarz Group has expanded aggressively. Today, it generates over $160 billion in annual revenue. Despite his immense wealth and influence in the retail world, Schwarz is known for maintaining a remarkably low public profile, rarely giving interviews or making public appearances. John Mars and his sister Jacqueline Mars, both citizens of the United States, are heirs to Mars, Incorporated, the iconic family-owned company known for beloved brands like M&M's, Snickers, and Pedigree pet food. Each sibling holds an estimated net worth of $42.6 billion, stemming from the one-third stakes they inherited in the company founded by their grandfather, Frank Mars, in 1911. Along with their late brother Forrest Jr., John and Jacqueline helped shape Mars into a diversified global empire. John and Forrest Jr. served as co-presidents from 1975, overseeing major expansions into chewing gum and pet care. Jacqueline worked at the company for nearly 20 years before stepping down in 2001, and she remained on the board until 2016. Known for her involvement in the equestrian world, Jacqueline has also dedicated much of her wealth to philanthropy. A 1992 Washington Post article revealed that the three Mars siblings worked in the same office and even shared a secretary, despite controlling one of the largest private companies in the world. Charles Koch, 89, inherited a modest oil refining and engineering business in Wichita, Kansas, from his father Fred Koch in 1967. Over the decades, he transformed it into Koch, Inc. (formerly Koch Industries), one of the largest privately held companies in the United States, generating $125 billion in annual revenue. The sprawling conglomerate has diversified into everything from cloud software to fertilizer. As the heir to Koch, Inc., Charles Koch has long been a staunch advocate for free-market capitalism, using his wealth to fund numerous libertarian and conservative causes. From 2020 to 2022, he transferred $5.3 billion worth of nonvoting stock to two nonprofits that allow more political activity than typical charities, effectively shifting nearly 10 per cent of his 42 per cent stake in the company. In 2023, for the first time, he appointed a co-CEO to share leadership of the company he built. At 62, Julia Koch is one of the wealthiest women in the world, with a net worth of $74.2 billion. She and her three children inherited a 42 per cent stake in Koch, Inc. after the death of her husband, David Koch, in 2019–brother to Charles Koch. While based in New York, Julia has remained actively involved in both business and philanthropy. In 2024, she and her children invested nearly $700 million to acquire a 15 per cent stake in BSE Global, the parent company of the NBA's Brooklyn Nets and the WNBA's New York Liberty. Through her Julia Koch Family Foundation, she also donated $75 million last year to establish the Julia Koch Family Ambulatory Care Center at NYU Langone's West Palm Beach campus. Koch serves on the boards of the Memorial Sloan Kettering Cancer Center and The Metropolitan Museum of Art, and is a director at Koch, Inc., maintaining influence over one of the largest private companies in America. At 71, Françoise Bettencourt Meyers stands as one of the most prominent heirs in the world, thanks to her family's significant stake in L'Oréal–the iconic French cosmetics empire founded by her grandfather, Eugène Schueller, in 1909. The Bettencourt Meyers family still owns over a third of the company. In June, she briefly made history as the first woman to surpass the $100 billion mark in net worth. Although she stepped down from L'Oréal's board in February 2025, her legacy remains firmly intertwined with the company's success. Françoise was the world's richest woman for more than two years until Walmart heiress Alice Walton overtook her in September. At 67, Mukesh Ambani is India's richest man, with a net worth of $92.5 billion. He and his younger brother Anil inherited the sprawling Reliance empire from their father, the legendary industrialist Dhirubhai Ambani, after his death in 2002. However, their inheritance soon became a source of conflict, resulting in a split of the family business. While Anil's fortune dwindled amid mounting debts and business failures, Mukesh successfully expanded Reliance Industries into a massive conglomerate spanning oil, petrochemicals, retail, and telecom–cementing his position as Asia's wealthiest individual. The three surviving heirs of Walmart founder Sam Walton – Rob, Jim, and Alice Walton – together hold around 34 per cent of the company's shares, placing them among the richest individuals globally. Rob Walton, the eldest sibling, was a key figure on Walmart's board for more than 40 years, including over two decades as chairman, before retiring in 2024. Jim Walton, the youngest, stepped down from the board in 2016 but remains active as the head of the family-run Arvest Bank Group, a prominent regional bank. In contrast, Alice Walton has focused her efforts on philanthropy and the arts, donating more than $1.7 billion to initiatives supporting education, environmental causes, and her hometown of Bentonville, Arkansas–where she established the renowned Crystal Bridges Museum of American Art. Source: Forbes
Mint
15-06-2025
- Business
- Mint
Larry Ellison's net worth: Here's how Oracle co-founder became the second-richest man with $258.8 billion in June 2025
US-based big tech multinational firm Oracle's Co-founder and Chief Technology Officer (CTO), Larry Ellison's net worth, witnessed a massive multi-billion-dollar surge last week as the 80-year-old's value hit $258.8 billion in June 2025. Data collected from the Forbes Billionaire List showed Ellison replaced Meta CEO Mark Zuckerberg to become the second-richest billionaire in the world. Larry Ellison's net worth rose by $66.8 billion to hit its level of $258.8 billion last week, compared to its $192 billion levels mentioned in the World's Billionaires List for 2025. According to Bloomberg data, Larry Ellison holds more than 40 per cent of the tech company along with a stake in Elon Musk's Tesla, a sailing team, a tennis event, and real estate, including the Lanai island in Hawaii. However, according to Bloomberg's Billionaire Index, Ellison is the third richest billionaire, with the last change marking a $13.9 billion increase. The data showed that Larry Ellison's net worth was $234 billion, trailing behind Elon Musk and Mark Zuckerberg. The billionaire CTO's net worth jumped after the company published an earnings report that beat Wall Street analysts' expectations. According to the official fourth quarter 2024-25 fiscal year results, the big tech firm's total quarterly revenues witnessed an 11 per cent year-on-year (YoY) jump to $15.9 billion, with major support from its cloud services and license support revenues, which recorded a 14 per cent jump in constant currency at $11.7 billion. The company's net income (GAAP) was $3.4 billion while the earnings per share were at $1.19. 'FY25 was a very good year — but we believe FY26 will be even better as our revenue growth rates will be dramatically higher,' said Oracle CEO, Safra Catz, in the filing. 'MultiCloud database revenue from Amazon, Google and Azure grew 115% from Q3 to Q4,' said Oracle Chairman and CTO, Larry Ellison, according to the official release. Oracle shares closed nearly 7.6 per cent higher at $215.22 after Friday's US stock market session, compared to $199.86 at the previous market close. The stock earlier jumped nearly 14 per cent on Thursday's market open after the company announced better-than-expected results for its fourth quarter on 11 June 2025. Oracle Corp. shares have given stock market investors more than 295 per cent returns on their investment in the last five years and over 52 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares have gained 29.63 per cent in 2025 and are trading 23.26 per cent higher in the last five stock market sessions. The shares hit their 52-week high levels at $216.60, while the 52-week low level was at ₹ 118.86, according to the data collected from Marketwatch. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
15-06-2025
- Business
- Mint
THIS billionaire surpassed Mark Zuckerberg, Jeff Bezos to be second richest person on Forbes real-time list
Oracle's post earnings report stock jump has propelled founder-chairman Larry Ellison past Meta Platforms chief Mark Zuckerberg and founder Jeff Bezos to become the second richest person in the world, according to the Forbes' 'World's real-time billionaires' list 2025. Notably, in the Forbes 'World's Billionaires List for 2025' released in April 2025, Larry Ellison was placed at fourth spot with a net worth of $192 billion. That means that in two months, the tech billionaire has gained $66.8 billion. The bulk of this increase comes from his stock in Oracle, which jumped on June 13 post its glowing earnings report, which beat Wall Street expectations. It posted adjusted earnings of $1.70 per share on revenue of $15.9 billion. The news pushed shares to $200/apiece at closing on June 13, reflecting faith in the company's long-term growth and direction in the artificial intelligence space. Notably, the company has been at the forefront of United States President Donald Trump's push for AI infrastructure in the country — i.e. Project Stargate, alongside OpenAI and SoftBank. At time of writing, 80-year-old Larry Ellison was worth $258.8 billion, taking his place as the second richest person in the world, behind only Tesla chief Elon Musk (53 years old), who has retained his number one spot on the list, with net worth of $410.8 billion, it showed. Meanwhile, Meta CEO Mark Zuckerberg (43), who was number two, has moved down one spot at #3, with net worth of $235.7 billion; and Amazon's Jeff Bezos (61), currently in the news ahead of his impending marriage to Lauren Sanchez, has also slipped one spot to #4 with net worth of $226.8 billion, the Forbes list data showed on June 15. Rounding off the top five is recently retired Berkshire Hathaway founder Warren Buffett (94), whose wealth is recorded at $152.1 billion. Notably, as per the Bloomberg Billionaire Index (BBI) on June 15, Larry Ellison is the third richest person in the world with net worth of $234 billion, up $13.9 billion. Larry Ellison has pushed Jeff Bezos to the fourth spot, with wealth of $233 billion, down $936 million, on date. Elon Musk and Mark Zuckerberg retain their number one and two spot on this list, with net worth of $368 billion (up 4.43 billion), and $241 billion (down $3.57 billion), respectively. The top five includes Microsoft co-founder Bill Gates, with net worth of $177 billion (down 248 million), as on date.
