In an effort to decrease expenses and adjust to new technology, the German airline firm Lufthansa has stated that it will lay off 4,000 employees by 2030, the majority of whom will be in Germany, according to news agency AFP. Rather than operational professions like pilots, cabin crew, or ground staff, the majority of the job cuts will impact administrative roles.
Approximately 103,000 individuals are currently employed by the organisation worldwide. Eurowings, Austrian Airlines, Swiss, Brussels Airlines, and ITA Airways—which it recently purchased to become Italy’s new flagship carrier—are all part of its network.
Lufthansa Layoffs Align with Weakening German Economy
Germany is currently experiencing its second year of recession at the time of the announcement. While the nation’s large corporations are finding it difficult to cope with growing energy costs, competition from China, and sluggish adoption of new technologies, unemployment has reached its worst level in a decade.
There are other German behemoths cutting employees besides Lufthansa. The industrial engineering and technology giant Bosch announced a few days ago that it will eliminate 13,000 jobs globally, or 3% of its staff.
AI and Digitisation Core Reason for Lufthansa Layoffs
The decision was a part of a larger evaluation of Lufthansa’s operations, the airline stated in its statement. According to the airline, the Lufthansa Group is evaluating whether operations, such as those involving duplication of effort, will no longer be required in the future. It further stated that many areas and processes will become more efficient as a result of the significant changes brought about by digitalisation and the growing use of artificial intelligence.
This implies that a certain amount of human interaction will no longer be necessary for some administrative duties. In addition to the reorganisation, Lufthansa has established new financial goals for 2028–2030. During this time, the corporation wants to reach an adjusted operating margin of 8% to 10%.
The company’s efforts to stay competitive in the rapidly evolving aviation sector and get ready for a challenging economic climate in Germany and Europe are reflected in the job losses.
Layoff has Become a Common Scenario in 2025
With big companies like Google, Microsoft, and others continuing to reduce their workforces, layoffs in the tech sector are not expected to halt in 2025.
Companies are still cutting employees in an effort to simplify operations, save money, and emphasise automation and artificial intelligence, even though these figures are much lower than the major layoffs that occurred between 2022 and 2023.
Layoffs.fyi, a website that tracks layoffs in the industry, reports that 93 organisations have laid off nearly 23,500 tech workers so far this year, and the number is still growing. Google and Microsoft are apparently contemplating a new round of layoffs, according to the most recent job reduction reports.
According to reports, AI-led restructuring and performance-based terminations are part of the corporations’ goals to increase the effectiveness of their personnel.
Quick
Shots
•Cost-cutting, digitisation, and
adoption of AI automation to streamline operations.
•Majority of job cuts in Germany,
where Lufthansa employs most of its 103,000 staff worldwide.
•Germany in second year of recession;
unemployment at a 10-year high; energy costs and China competition add pressure.
One of the biggest layoffs in Germany’s automotive industry, Bosch plans to eliminate 13,000 positions as the sector struggles with low demand, overcapacity, and growing competition from China. The largest auto supplier in the world announced on 25 September that all of the layoffs would be made by its own employees, which accounts for roughly 10% of its workforce in Germany and 3% worldwide.
According to Le Monde, the layoffs are intended to save €2.5 billion a year in its auto parts division. Bosch, a manufacturer of sensors, brakes, and steering systems, stated that the cuts were required to match production to changing demand around the world.
Bosch’s head of industrial relations, Stefan Grosch, informed reporters that the company’s products are becoming much more popular outside of Europe. The brand must align with the locations of its customers and marketplaces.
Bosh’s Challenging Times in Europe
The action highlights the pressure on the biggest economy in Europe as its main auto industry battles the switch to electric vehicles. Le Monde claims that slow EV sales, overcapacity in conventional components, and a growing price war in China that has reduced supplier profits have all hurt Germany’s auto industry.
Bosch’s head of electrified motion, Marco Zehe, acknowledged that the company had misjudged the rate of change. He claimed that “electromobility has not taken off as quickly as forecast.” “That indicates that we have a lot of excess capacity, especially in Germany and Europe.” Since last year, Bosch has already announced 9,000 job layoffs.
Schaeffler and Continental, among other suppliers, have also reduced their workforce by thousands of workers. Volkswagen has stated that it plans to reduce its staff in Germany significantly, while Porsche slowed its deployment of electrified vehicles last week due to insufficient demand.
Bosh Struggling to Deal with Europe’s Fading Economy
As a result of the transition, Bosch’s German operations, which were previously a cornerstone of global supply, are now disproportionately susceptible to increased cost bases and weakening European demand. “We stand by it as a location and stand by Europe and are doing all we can to continuously improve our competitiveness by our own efforts,” Grosch said, emphasising that Germany remained “central” to the company’s future.
Representatives of the workforce pledged to oppose the reorganisation. The Bosch Mobility Works Council’s chairman, Frank Sell, called the layoffs “historically unprecedented”. He charged the group with betraying the confidence of the workers who had contributed to the company’s success. The union is requesting guarantees that Bosch won’t shut down entire German facilities, a worry that has stoked dissatisfaction among employees in industrial hotspots like Baden-Württemberg.
With hundreds of thousands of workers, Germany’s automobile industry has been a major contributor to its export power. However, suppliers and manufacturers alike are being forced to reconsider their footprints due to the twin challenges of electrification and global competition. According to Bosch’s announcement, the adjustment will be more severe than most people had expected.
Local economies that are already struggling from past layoffs will be affected by the employment reduction. The layoffs, according to analysts, highlight a structural change: German auto suppliers run the risk of losing market share as automakers prioritise regional sourcing and as Asian competitors take control of EV supply chains.
Quick
Shots
•Layoffs aim to save €2.5 billion
annually in the auto parts division amid falling demand and overcapacity.
•Bosch says its products are gaining
traction outside Europe and must realign production accordingly.
•Slow electric vehicle adoption,
excess capacity, and a China-led price war pressure German auto suppliers.
•Other giants like Schaeffler,
Continental, Volkswagen, and Porsche are also scaling back jobs and EV plans.
On September 15, Ford Motor Company declared that it would lay off up to 1,000 workers at its Cologne, Germany, electric vehicle production. According to the firm, the decision was made because battery-powered car sales are falling short of projections.
According to an AP story, the automaker clarified that it will use buyout packages and voluntary departures to try to lessen the impact on workers. Additionally, production will be reduced at the Cologne facility that manufactures the electric Explorer SUV. The facility will switch from two daily shifts to one starting in January.
Ford: Weak Electric Vehicle Demand in Europe
EV sales have not increased as rapidly as many automakers had anticipated, despite significant investment. According to the company’s official statement, the demand for electric vehicles in Europe is much lower than what the industry had predicted. This round of layoffs comes after Ford’s November 2024 announcement of its reorganisation plan.
The corporation announced at the time that it will eliminate roughly 4,000 jobs across Europe and the UK, with 2,900 of those positions being in Germany. Prior to an agreement with the IG Metall union that guaranteed employment for almost 10,000 workers at the Cologne facility until 2032, workers had gone on strike earlier this year, according to news agency AFP.
About $2 billion (2.3 billion euros) has already been spent by Ford to update the Cologne facility for the manufacture of electric vehicles. Sales momentum has been lower than anticipated, despite the fact that the modifications were done in anticipation of increased demand for low-emission automobiles.
Why Electric Vehicle Demand is Not Picking up in Europe?
In Europe, EV adoption has been hampered by high initial costs and a dearth of charging points. The elimination of purchase subsidies in Germany is another factor that has further hindered growth.
Through July of this year, electric vehicles made up 15.6% of the European market, up from 12.5% the previous year. But the growth hasn’t been as rapid as anticipated. In the first seven months of the year, Ford sold 260,000 cars of all kinds, a slight 0.7% rise. According to the European Automobile Manufacturers’ Association, its market share stuck at 3.3%.
India’s EV Market: A Contrast to Europe
The electric vehicle (EV) market in India is expanding quickly thanks to government subsidies, growing environmental awareness, and technology breakthroughs. India hopes to dramatically boost EV adoption through programs like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, transforming its transport system in the direction of sustainability and innovation.
By 2030, India wants to increase the percentage of sales of electric vehicles (EVs) to 30% for private automobiles, 70% for commercial vehicles, 40% for buses, and 80% for two- and three-wheelers. By 2030, there will be 80 million EVs on Indian roadways, which is an ambitious goal.
Quick
Shots
•Production of electric Explorer SUV
reduced; plant to move from two shifts to one in January 2026.
•Layoffs to be managed via buyouts and
voluntary exits to soften impact.
•Ford cites EV demand in Europe
falling short of industry forecasts despite heavy investments.
•$2 billion invested in upgrading
Cologne facility for EV production, but sales momentum lagging.
Taxes have a very intriguing history around the globe! As we are well familiar with the fact that tax rules are essential for our country. Taxes are as certain as deaths. For the social welfare and development of any country, taxes are crucial and must be taken more promptly by its citizens. With such a serious entity of taxes, it’s quite surprising to know about those extremely unusual and weird taxes across the world. Did you know, some countries even charge taxes on prostitution? Weird, right?
To sum up such weird and unusual tax rules across the globe, we have presented this article. Such unusual tax rules pass because of the sudden financial needs in order to fill up the gaps that occurred in budgets.
Throughout the world’s history, numerous weird and unusual tax rules have been passed. Some fraction of these taxes were passed to generate additional revenue, whereas others were passed for social welfare purposes.
Well, we can not turn down the tax rules due to the chances of arrests are pretty high. That’s why willingly or unwillingly, people do follow the tax rules and pay their fraction. Let’s begin with the most unusual tax rules around the globe.
According to German laws, bribery was legal in all sectors. This continued till 2002, after which various laws were passed and bribery became illegal. But, this isn’t the unusual part. Bribes were not only legal in Germany but it was also tax-deductible, published by Businessweek editorial of 1995.
However, this wasn’t allowed when the briber or its recipient was involved in any kind of criminal offense or proceedings. On this note, bribery was restricted by the prosecution. This ended when Germany passed the public contracts of 20-30%. Germany made its proceedings of eliminating this tax deduction for bribery till 1999.
Denmark: Cow Flatulence Tax
A wide fraction of people believe the cause of greenhouse gasses is the black smoke coming from factories or the highway of Los Angeles but, Denmark holds a different perspective here! It believes the cause of greenhouse gases is cow gas.
According to research and analysis, around 18% of Europe’s greenhouse gasses come from methane, released in cow gas because of the slow digestion of greens in the cow.
To prevent the epidemic of greenhouse gas, caused by the cow fueled, several European countries passed tax charges on each cow. Thus, Denmark’s cows are worth $110.
Hungary: The Junk Food Tax
It’s quite shocking to know that some countries even charge taxes on packaged foods that are high in salt and sugar. Basically, on all junk foods. One such country is Hungary. This junk food tax is officially termed as ‘Public Health Product Tax‘, which adds up to around 20% more than the initial price.
The government of Hungary basically prioritizes the healthy diet and assesses it to the citizens of having a better product choice. This results in around 59 to 73% of consumers eliminating junk foods from their lists.
Britain: Films Tax Reduction
Great Britain charges a distinct tax deduction to films that are based on British culture. Such films need to be registered to various authorities and would be rated according to their cultural content, practitioners, hubs, and contribution.
Those films which are rated highly on the scale, get a tax reduction of 25 percent on the earnings generated by the films.
It’s very unusual for Russia to introduce a beard tax. Well, it is true! In the times of Peter the Great who was known to be the most popular Czar of Russia. And he was the one who introduced the beard tax.
Beard was the typical fare for a wide number of people in Chilly Russia. When Peter the Great visited Western Europe where he was intrigued by the barbarian culture and that’s when he decided to tax the bread. For keeping a beard, men had to give some token as in beard tax.
Canada: Cereal Toys Tax Reduction
One of the most fascinating things for a kid is to find the toy hidden in the cereal box. And Canada leaves no grounds to promote such packaging. That’s why it has provided tax breaks on cereal companies for putting a toy in the cereal box. This is unusual but at the same time, promotes kids’ welfare.
Those cereal companies that hide a toy in their cereal box around our Northern Neighbor get a reduction on the extra tax.
Ireland: Artist Tax Exemptions
For artists, managing their economic status is quite tough and often leaves them starving. But in Ireland, artists from all categories including sculptures, writers, composers, and visual artists who sell their work are not compelled to pay the income tax.
For getting such tax exemption, the artists have to file a lawsuit for their original work under the tax authorities of Ireland. They further check and provide the final statement on whether the work is original, valuable, and passes the cultural merits or not.
The history of tax rules is quite intriguing as well as unusual. And still, such unusual taxes are available in many countries across the globe. In fact, in historical times taxes were charged on cooking oils or beards. Every country has its distinct tax rules based on the country’s requirements or culture. Through this article, we did our best in covering such unusual and weird tax rules across the globe.
FAQ
Which countries are tax-free?
Bermuda, Monaco, the Bahamas, Andorra and the United Arab Emirates (UAE) are tax-free countries.
What are examples of hidden taxes?
taxes on cigarettes, alcohol, gambling, gasoline and hotel rooms are some of the examples of hidden taxes.
What are some weird taxes around the world
Cow Tax, Junk Food Tax and Tax on bribe are some of the weird taxes in history.
There are a lot of billionaires in the world. Billionaires play a major role in contributing to the growth of a country and its economy by indirectly reducing unemployment and poverty.
Here is the list of the top countries with most number of billionaires and the top billionaires of that country.
The United States of America is a country which is located in the Northern America. The country is commonly as the United States or the U.S. The country has a population of around 331 million and ranks third in the most populated countries around the world.
According to the International Monetary Fund, the U.S GDP is around USD 16.8 trillion. For GDP per capita at PPP, the country is ranked sixth in the world and the ninth in the world for nominal GDP per capita.
United States have around 724 billionaires in the country. The top billionaires of the country are,
Jeff Bezos with a net worth of USD 177 billion. His main source of wealth is through Amazon.
Elon Musk with a net worth of USD 151 billion. The main source of wealth is through Tesla and SPACEX.
Bill Gates with a net worth of USD 124 billion. His main source of wealth is through Microsoft.
China
China is a country which is located in the Asian continent. The official name of China is People’s Republic of China. China has a population of around 1.4 billion and it ranks 1st in the world for the most populated country. China is also world’s 3rd or 4th largest country by area.
In terms of nominal GDP since 2010 China has the world’s second largest economy. According to World Bank in terms of Purchasing Power Parity GDP China’s economy has been the world’s largest since 2014. The nominal GDP of the country is around USD 13.5 trillion.
China has around 626 billionaires in the country. The top billionaires of China are,
Zhong Shanshan with a net worth of USD 68.9 billion. His main source of wealth is through Nongfu Spring. Nongfu Spring is a Chinese bottled water and beverage company.
Nongfu Spring Products
Ma Huateng with a net worth of USD 65.8 billion. His main source of wealth is through Tencent.
Colin Zheng Huang with a net worth of USD 55.3 billion. His main source of wealth is through Pinduoduo. Pinduoduo Inc. is an agriculture-focused technology platform in China.
India
India is also a country which is located in the Asian continent. India is officially known as Republic of India. India ranks second in the most populated country around the world and India is considered to be the most populated democratic country in the world. In terms of land area, India is the seventh largest country in the world.
The Indian economy in 2019 was worth USD 2.9 trillion nominally according to International Monetary Fund. India is the fifth largest economy by market exchange rates with around USD 11 trillion. India is one of the world’s fastest growing economies.
Shiv Nadar with a net worth of USD 20.4 billion. His main source of wealth if through HCL technologies.
Germany
Germany is a country which is located in the European Continent. It is officially known as Federal Republic of Germany. The population of the country is around 83 million and 357,022 square kilometers, it is the area which is covered by the country. Germany ranks second in the most populated country in the European continent.
Germany’s economy is a social market economy. Germany is considered to have a very low level corruption, high level of innovation and high skilled labourers. Germany ranks third in the world for exporting of goods. The country ranks 1st European continent for the largest economies and ranks fourth across the globe for the largest economies.
Germany has around 136 billionaires in the country. The top billionaires of Germany are,
Beate Heister & Karl Albrecht Jr with a net worth of USD 36.1 billion. Their source of wealth is through their family operated discount supermarket chain Aldi Sud.
The largest Aldi sud supermarket located in the world opens in the German Ruhr area
Dieter Schwarz with a net worth of USD 22.6 billion. The main source of wealth is through multinational retail grocery shops Schwarz Gruppe.
Susanne Klatten is the BMW heiress with a net worth of USD 21 billion. The main source of wealth is through BMW, Atlanta Nordex and SGL Carbon.
Russia
Russia is a country which is located in the European continent and is also known as Russian Federation. In terms of land area, Russia ranks 1 among the world’s largest countries. The land area Russia covers is around 17, 125, 191 square kilometers. The population of Russia is around 146.2 million which makes it the most populated country in Europe and the country ranks 9th in the most populated countries around the world.
Russia has an economy which is a transition of upper-middle income. The country is considered to have enormous amount natural resources. Their natural resources include oil and gas. Russia ranks 6th in the world in terms of largest economies by PPP GDP and ranks 7th in the world in terms of largest economy by nominal GDP. Russia’s GDP per capita by PPP is around USD 29, 485 as of 2021, according to International Monetary Fund.
Russia has around 117 billionaires in the country. The top billionaires of Russia are,
Alexey Mordashov and family have a net worth of USD 29.1 billion. Mordashov has the majority shareholding in the steel company Severstal.
Vladimir Potanin with a net worth of USD 27 billion. His main source of wealth is through metals.
Vladimir Lisin with a net worth of USD 26.2 billion. The main source of wealth is through steel and transport.
Hong Kong is a country that is situated in the Asian Continent. It is one of the countries which has a very high population around the world and a economy that is capitalist mixed service. The country has a very minimal intervention in the market by the government, low taxation and an international financial market that is well established.
Hong Kong has a nominal GDP of USD 373 billion which makes its economy 35th largest in the world. Hong Kong has around 71 billionaires in the country. The top billionaires of Hong Kong are,
Li Ka-shing with a net worth of USD 35.4 billion.
Lee Shau Kee has a net worth of USD 30.5 billion.
Henry Cheng and family with a net worth of USD 22.1 billion.
Brazil
Brazil is known as the Federative Republic of Brazil. In both Latin America and South America, Brazil is the largest country. The country also has the largest economy in Latin America and has the 7thlargest economy in the world.
Brazil has around 65 billionaires in the country. The top billionaires are,
Jorge Paulo Lemann with a net worth of USD 16.9 billion.
Eduardo Saverin with a net worth of USD 14.6 billion.
Marcel Herrmann with a net worth of USD 11.5 billion.
Canada
Canada is a country which is located in North America. It is the second largest country in the world. Canada has the 10th largest economy in the world. USD 1.73 trillion is the approximate value of the nominal GDP of Canada.
Canada has around 64 billionaires in the country. The top billionaires are,
David Thomson and family with a net worth of USD 41.8 billion.
Joseph Tsai with a net worth of USD 11.6 billion.
Tobi Lutke with a net worth of USD 9.8 billion.
United Kingdom
United Kingdom is a country that is located in the European continent. The country’s economy is a partially regulated market. In Europe, UK is the second largest economy after Germany and around the world UK has the 5thlargest economy.
UK has around 56 billionaires. The top billionaires are,
James Ratcliffe with a net worth of USD 17 billion.
Hinduja Brother with a net worth of USD 14.9 billion.
Michael Platt with a net worth of USD 13 billion.
Italy
Italy is a country which is located in the European continent. The economy of Italy is an advanced capitalist mixed economy. In the Eurozone, Italy has the third largest economy and worldwide it has the 8thlargest economy. The country is considered as the most industrialized nation.
Italy has around 51 billionaires in the country. The top billionaires are,
Giovanni Ferrero and family with a net worth of USD 25.2 billion.
Leonardo Del Vecchio and family with a net worth of USD 17.9 billion.
Stefano Pessina with a net worth of USD 13.4 billion.
Japan
Japan is an Island country which is located in the Asian continent. Japan is the 11th most populated country in the world. In terms of nominal GDP after United States and China, Japan has the 3rdlargest national economy.
Japan has around 49 billionaires in the country. The top billionaires are,
Tadashi Yanai with a net worth of USD 48.7 billion.
Masayoshi Son with a net worth of USD 34.9 billion.
Takemitsu Takizaki with a net worth of USD 32 billion.
Taiwan
Taiwan that is officially known as Republic of China is a country in the Asian continent. The country has been called Taiwan Miracle because of its quick industrialization and rapid growth. This was mainly during the latter half of the 20th century.
Taiwan has 47 billionaires in the country. The top billionaires are,
Wei Ing-chou who has a net worth of USD 7.2 billion.
Ying-Chiao who has a net worth of USD 7.2 billion.
Australia is officially known as the Commonwealth of Australia. It is a sovereign country located in the Australian continent. The 6thlargest country around the world is Australia. It is considered to be a wealthy country with a very low rate of poverty and high GDP per capita.
Australia has 44 billionaires in the country. The top billionaires are,
Gina Rinehart with a net worth of USD 14.8 billion.
Harry Triguboff with a net worth of USD 9 billion.
Anthony Pratt with a net worth of USD 6.8 billion.
South Korea
South Korea is officially known as the Republic of Korea. It is a country which is located in the east of the Asian continent. South Korea’s economy is a mixed economy and in terms of the nominal GDP South Korea ranks 10th around the world. It has a high-income economy which makes it a developed country.
South Korea has 43 billionaires in the country. The top billionaires are,
Jay Y Lee who has a net worth of USD 11.2 billion.
Kim Beom-SU who has a net worth of USD 7.6 billion.
Seo Jung-Jin who has a net worth of USD 7.4 billion.
France
France is known as French Republic. It is a country which is located in the European continent. In terms of PPP GDP France is ranked as the 10th largest in the world and is ranked 2ndlargest in the European Union in terms of PPP GDP. France’s economy is a diverse economy with a domination towards the service sector.
France has around 42 billionaires in the country. The top billionaires are,
Bernard Arnault with a net worth of USD 76 billion.
Francoise Betterncourt with a net worth of USD 49.3 billion.
Francois Pinault with a net worth of USD 29.7 billion.
Sweden
Sweden is officially known as the kingdom of Sweden. It is a country which is located in the European Continent. In terms of GDP, It is the 16th richest country in the world. A high standard of living is experienced by the citizens of Sweden.
Sweden has around 41 billionaires in the country. The top billionaires are
Stefan Persson with a net worth of USD 15.6 billion.
Hans Rausing and family with a net worth of USD 12 billion.
Jorn Rausing has a net worth of USD 8.7 billion.
Switzerland
Switzerland is officially known as Swiss Confederation. It is a country that is located in the European continent. Switzerland has lands in all the four sides of their border and hence called as landlocked country. Switzerland has a high-tech economy which is stable and prosperous. It has been ranked as one of the least corrupted countries around the world.
Switzerland has around 40 billionaires in the country. The top billionaires are,
Gianluigi and Rafaela Aponte with a net worth of USD 10.7 billion.
Guillaume Pousaz with a net worth of USD 9 billion.
Ernesto Bertarelli with a net worth of USD 8.6 billion.
Thailand
Thailand is officially known as the Kingdom of Thailand and was formerly known as Siam. The country is located in the Asian continent. Thailand is considered to be a newly industrialized country and is an emerging economy.
Thailand has 31 billionaires in the country. The top billionaires are,
Dhanin Chearavanont with a net worth of USD 18.1 billion.
Charoen Sirivadhanabhakdi with a net worth of USD 13.5 billion.
Sarath Ratanavadi with a net worth of USD 8.9 billion.
Spain
Spain is known as the Kingdom of Spain. The country is located in Europe. Spain has a capitalist mixed economy. They have the 14th largest economy around the world and 4th largest in the European Union.
Spain has 30 billionaires in the country. The top billionaires are
Amancio Ortega with a net worth of USD 81 billion.
Sandra Ortega Mera has a net worth of USD 6.7 billion.
Singapore is known as the Republic of Singapore. The country is located in the Asian continent. Singapore has a highly developed economy. The Singaporean economy is considered to be business friendly, innovative, dynamic and a free economy.
Singapore has around 27 billionaires in the country. The top billionaires are
Zhang Yongwith a net worth of USD 23 billion.
Goh Cheng Liang with a net worth of USD 21.7 billion.
Li Xiting has a net worth of USD 21.5 billion.
Turkey
Turkey is known as the republic of Turkey. The country is located in the European continent. Turkey is considered to have an economy that is upper middle-income. The country is considered as a newly industrialized country. Turkey is 20th largest around the globe in terms of nominal GDP.
Turkey also has around 27 billionaires in the country. The top billionaires are,
Erman ılıcak with a net worth of USD 3.8 billion.
Murat Ülker with a net worth of USD 3.7 billion.
Hüsnü özyeğin with a net worth of USD 2.1 billion.
FAQ
How many Trillionaires are there?
As of today, there are no trillionaires who live on earth.
Who is the wealthiest family in the world?
Walton Family – Walmart is the wealthiest family in the world with a Estimated net worth of $215 billion.
Is Kylie Jenner a billionaire?
Kylie Jenner, 23, was the youngest billionaire, but did not make the cut this year. In 2019, she was controversially named the youngest self-made billionaire in 2019.
Conclusion
These are the list of the top Countries with the most number of billionaires. Some of the other countries with the most number of billionaires are Israel with 17, Indonesia and Philippines with 15, Mexico, Norway and Malaysia with 12, Netherlands with 11, Austria and Ireland with 9, Czech Republic and Denmark with 8 and so on.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved bySAP.
SAP SE is a German multinational software corporation based in Walldorf, Baden-Württemberg, that develops enterprise software to manage business operations and customer relations.
Their machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. Their end-to-end suite of applications and services enables the customers to operate profitably, adapt continuously, and make a difference. Know more about the company profile of SAP SE here in this article.
SAP stands for Systems, Applications, and Products in Data Processing (Anwendungen und Produkte in der Datenverarbeitung in German). SAP was founded in 1972 in Walldorf, Germany and now has offices around the world.
Originally known for leadership in enterprise resource planning (ERP) software, SAP has evolved to become a market leader in end-to-end enterprise application software, database, analytics, intelligent technologies, and experience management. A top cloud company with 200 million users worldwide, SAP helps businesses of all sizes and in all industries to operate profitably, adapt continuously, and achieve their purpose.
The company’s official name became SAP AG (a public limited company) after the 2005 annual general meeting. On 21 May 2014, SAP AG announced during the Annual General Meeting of Shareholders held on the same day, 99% of the shareholder votes approved the conversion of legal form to a European stock corporation (Societas Europaea, SE) and at the same time, elected the first Supervisory Board of SAP SE. The conversion of the company’s legal form would take place upon entry in the commercial register, expected to be in July 2014.
On 7 July 2014, SAP announced it had changed its legal form to a European Company (Societas Europaea, SE). As a result, its German subsidiary was renamed to SAP Deutschland SE & Co. KG.the conversion cost the company approximately €4 million.
SAP – Recent News
As of January 2021, SAP SE Extends Executive Board: Julia White Joins as Chief Marketing and Solutions Officer, Scott Russell Takes Over Customer Success.
SAP – Founder and History
On April 1, 1972, five former IBM employees –Dietmar Hopp, Hasso Plattner, Claus Wellenreuther, Klaus Tschira, and Hans-Werner Hector –started the company SystemAnalyse Programmentwicklung(System Analysis and Program Development), with a vision of creating a standard application software for real-time business processing. SAP stands for Systems Applications and Products in Data Processing.
Their idea was to create standard enterprise software that integrated all business processes and enabled data processing in real time. SAP’s founders and employees worked closely with customers –often sitting side-by-side with employees in customers’ offices to learn their business needs and processes. By 1975, they had built applications for financial accounting (RF), invoice verification, and inventory management (RM). Some of their early customers were the nylon factory belonging to ICI in Östringen, Germany, Knoll, Burda, Linde, and Schott.
The blend of real-time data processing, standardization, and integration were the basis for SAP’s transformation from a small German company into a global leader in business software.
SAP decided to run simpler by mastering complexity so their customers can run at their best. The new logo which was explored was supposed to represent this transformation in a warm and friendly way which it does.
SAP’s Company Logo
SAP – Mission
SAP’s mission is to help every customer become a best-run business. They do this by delivering technology innovations that address the challenges of today and tomorrow without disrupting their customers’ business operations.
SAP – Business Model
SAP has a mass market business model, with little differentiation between customers. Its customers are any enterprises that wants software for the purpose of managing operations and employees. The SAP business model entails designing and developing new software products.
SAP has a value-driven structure, that aims to provide a premium proposition by adding its products with training and consulting services. Its biggest cost driver is sales/marketing expenses, a fixed cost.
SAP has raised a total of $1.3B in funding over 2 rounds. Their latest funding was raised on Apr 24, 2019 from a Post-IPO Equity round. SAP is funded by 2 investors. Elliott Management Corp. and EASME – EU Executive Agency for SMEs are the most recent investors.
Date
Round
Amount
Lead Investors
Apr 24, 2019
Post IPO Equity
$1.3B
Elliot Management Corp.
Jun 1, 2015
Grant
€1.3M
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SAP – Investments
SAP has made 26 investments. Their most recent investment was on Aug 4, 2020.
Date
Organization Name
Round
Amount
Aug 4, 2020
Vistex
Corporate Round
–
Feb 3, 2020
PlainID
Corporate Round
–
Apr 25, 2019
Ruum
Corporate Round
€10M
Dec 1, 2018
Inversation
Corporate Round
–
Aug 26, 2016
Vivanda
Funding Round
–
Dec 1, 2015
ThreatConnect
Series B
$16M
Jan 20, 2015
Alchemist Accelerator
Venture Round
$2.1M
Sep 3, 2014
BlackDuck
Series F
$20M
Sep 10, 2013
Virtustream
Series D
$40M
Oct 12, 2011
BlackDuck
Series E
$12M
SAP – Acquisitions
SAP has acquired 46 organizations. Their most recent acquisition was Emarsys on Oct 1, 2020.
Acquiree Name
Date
Amount
About Acquiree
Emarsys
Oct 1, 2020
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Emarsys enables brands around the world to deliver truly personal customer interactions across email, mobile, social, and web – at scale.
Contextor
Nov 19, 2018
–
Contextor is an independant software vendor, pioneer in robotic process automation & robotic desktop automation.
Qualtrics
Nov 10, 2018
$8B
Qualtrics is a single system of record for all experience data, managing customer, product, employee, and brand experiences on one platform.
Coresystems
Jun 5, 2018
–
Coresystems builds mobile and cloud-based field service management solutions to give customers the ultimate real-time service experience.
CallidusCloud
Jan 29, 2018
$2.4B
Callidus Software Inc provides sales effectiveness software and services.
Recast.AI
Jan 22, 2018
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Recast.AI offers a chatbot development platform.
Gigya
Sep 24, 2017
$350M
Gigya offers a Customer Identity Management Platform that businesses can use to identify customers, aggregate data & personalize campaigns.
Abakus
Dec 14, 2016
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Abakus provides online and offline media marketing software solutions for advertisers and consumers.
PLAT.ONE
Sep 28, 2016
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PLAT.ONE is the First Enterprise-Grade IoT Application Platform
Altiscale
Aug 25, 2016
$125M
Altiscale is a Big Data platform that operates through the cloud service.
SAP – Partnerships
SAP partners include Global Services Partners with cross-industry multinational consulting capabilities, Global Software Partners providing integrated products that complement SAP Business Suite solutions, and Global Technology Partners providing user companies with a wide range of products to support SAP technology, including vendors of hardware, database, storage systems, networks, and mobile computing technology.
Extensions partners are companies which provide functionality that complements SAP product capabilities. Their products are certified, sold, and supported by SAP. These partner companies include Adobe, CA Technologies, GK Software, Tricentis, Hewlett-Packard, IDS Scheer, Mendix, OpenText, Knoa Software, and BackOffice Associates.
SAP has also partnered with Apple to work on the mobile experience for SAP enterprise customers. As part of the partnership, a new SAP HANA Cloud Platform SDK would be delivered exclusively for iOS. As a result, developers can build applications based on the SAP HANA Cloud Platform for the iPhone and iPad devices. The partnership was announced in May 2016.
In 2019, SAP announced a three-year partnership “Embrace” with Microsoft that should allow its clients to move their business process into the cloud. SAP teams up on cloud sales with Microsoft
In 2020 SAP announced that together with Wipro it will co-develop and market “solutions for the retail and fashion industry.”
SAP – Competitors
The top 10 competitors in SAP’s competitive set are Microsoft, IBM, Oracle, Salesforce, Adobe, VMware, Workday, ServiceNow, Symantec and Tableau.
SAP knows that to fulfill the expectations of new customers, its required to have the flexible IT systems. It also comes along with changing the business models, which need to be adopted in a very quick manner to stay on top of the market.
From a techie-perspective, SAP is engaging in a highly integrated but modular approach to provide an integrated, intelligent suite for customers, for sure based on cloud-native technologies. And here, this will help them to deliver continuous innovations and services to customers.
From a business process perspective, ERP is becoming a process as a service, and we will offer the business capabilities that will help companies to run at their best which means SAP enables new business models like consumption-based billing, subscription-based businesses, etc.
SAP – FAQs
What does SAP do?
Originally known for leadership in enterprise resource planning (ERP) software, SAP has evolved to become a market leader in end-to-end enterprise application software, database, analytics, intelligent technologies, and experience management.
Who founded SAP?
On April 1, 1972, five former IBM employees –Dietmar Hopp, Hasso Plattner, Claus Wellenreuther, Klaus Tschira, and Hans-Werner Hector –started the company SystemAnalyse Programmentwicklung(System Analysis and Program Development).
What companies do SAP compete with?
The top 10 competitors in SAP’s competitive set are Microsoft, IBM, Oracle, Salesforce, Adobe, VMware, Workday, ServiceNow, Symantec and Tableau.
How does SAP make money?
SAP has a mass market business model, with little differentiation between customers. Its customers are any enterprises that wants software for the purpose of managing operations and employees.
Dreaming about beginning a company abroad and hunting for the world’s most startup friendly countries? It has never been easier to launch a company abroad in today’s globalized economy. It is worth investing in exploring the right place to suit your business if you are thinking about beginning a startup abroad. Even if it’s not as straightforward as it seems to us everybody knows that starting a business is always a company.
Think and Decide
A startup will thrive in many ways including dedication, inspiration, creativity, talented workers, aspiring leaders, and, of course, an outstanding concept. Investments, accelerators, and incubators funding and a solid and well-developed ecosystem should also be made readily available. Tax incentives for entrepreneurs and government funding should also be offered in order to achieve their dreams and to take chances on the road to growth. There are several aspects deciding what makes a country that is ideal for start-ups.
Keeping all these factors in considerations, here are the top 10 startup-friendly countries:
1. Germany
Germany Flag
Germany is the fourth-largest economy in the world and the largest in Europe. It provides a competitive funding climate for start-ups, a clear organizational culture, and a well-trained workforce. English is widely spoken all over, making creating a global corporation smoother and attracting diverse skills. Germany gives start-ups favorable funding choices and straightforward corporate culture. German firms are funded by the most popular foreign investors including Earlybird VC, Ciaran O’Leary, etc. In addition, the nation has a highly trained population, global ties, a skilled workforce, and a sophisticated infrastructure.
A reputation for conservativeness, old fashion and risk-averse in the Japanese marketplace. Yet this mentality is evolving and it has made the entrepreneurship community expand rapidly. In 2018 it began the ambitious J-Startup program aimed at generating 20 unicorns or listed companies by 2023. There are roughly 10,000 start-ups in the world according to the Japanese Ministry of Economics. This has been possible through creative thinking, technology skills, advanced networks, a well-trained ex-pat population, competent staff, etc. This has been possible.
As the nation has a well-evolving community and a long tradition of entrepreneurship, the U.S. is not new to the innovation ecosystem. Silicon Valley is known around the country for its world-famous start-up center, as are Atlanta, New York, Austin, San Diego, San Francisco, and others. As a result, several people decide to immigrate to the US in order to start a business. Some of the best examples of successful start-ups are Google, Uber, and Facebook. The amount of financing given to young ventures has increased, leading to the growth of entrepreneurship.
The UK is well known for numerous technology start-ups. Britain is now famous for its presence in colleges of world-class and a diverse pool of foreign talent. The UK startup community has not ceased manufacturing creative businesses like Revolut, Move Wise, and Perkbox amid shaky talks on Brexit and an unpredictable future. Start-ups in the United Kingdom profit from Europe’s highest population of English, easy business entry, and highly trained, highly skilled workers. The British new technology economy is full of talent to choose from, with a population of 2.1 million.
Canada gives founders and start-ups a comprehensive support structure that includes a wealth of activities and programs. Increase business practices, trained people, a well-developed facility and competitive foreign exchange rates are open to Canadian start-ups and more. With many seeing it as one of the most appreciated countries in the world not only to develop a corporation but to establish families and raise children, Canada has become one of the best locations. It may be a powerful company, access to a wide talent pool, or welcome, but it seems that Canada is gaining a lot of fame as one of the most promising countries on a business trip.
Switzerland is regarded as a tranquil paradise with magnificent lakes, glaciers, and mountains. However, elegance does not keep the European start-up community from being broken. According to this assessment, the fact that a company starts in Switzerland has more positive than negative implications, so it is a very good chance for entry into a stable market with access to the European markets in order to be stable, creative, and productive, it helps you to test your product or service in a multicultural environment. Thanks to the presence of a trained population, a well-established regulatory environment, and quick access to capital for enterprises, the country has a successful startup ecosystem.
Sweden is a unicorn factory in the industry as it is home to valuable industries across the world. There is a tiny domestic market in the world, which pushes start-ups and entrepreneurs to think internationally from the beginning and take them to high levels. Despite Stockholm, the capital city of Sweden, which is per capita the second most active technology center of the world after Silicon Valley, many consider that the Swedish economy is being powered by big companies. However, 99% of all companies in Sweden are small firms, currently hiring four out of five individuals.
Australia is in the Royal proclamation. There are also several islands in the world, particularly Tasmania. The area was settled by aboriginal people at least 40,000 years before the first British settlers in the 1700s. Australia ranks fifth when it comes to women entrepreneurship, one of the world’s most start-up-friendly countries. It was reported that either migrants or their children founded 57% of start-ups in the country and 20% of workers are foreign talent. Australia has achieved a well-built community, infrastructure, and regulatory system in terms of education. Australia has scored.
Opposition to the southern part of the Korean Peninsula South Korea, formally the Republic of Korea, is a region with a long tradition of violence in Eastern Asia. Freed from Japan at the conclusion of World War II in 1945, South Korea was occupied in North Korea a couple of years later by Communist Forces. South Korea has experienced rapid economic growth and is now the world’s 11th largest economy. In recent years, there has been an immense increase in the country’s technology start-up ecosystem. With the various investments of these start-ups, this is likely. In 2017, 2.38 trillion start-ups were spent, and by 2018 hit 3.42 trillion.
Singapore is the busiest metropolis in Southeast Asia and home to one of the world’s most busy ports, established as a British trading colony in the 19th century. On the eponymous capital island, the vast majority of its 5,7 million people remain, and the city-state is complete by hundreds of neighboring islands. The government encourages startups with large incentives and creative policies favorably. In addition, Singapore has an advanced ecosystem of entrepreneurs with multiple incubators and accelerators. More than 150 risk capital investors in the country are also responsible for the growth of these start-ups.
Various aspects contribute to an environment of diverse entrepreneurs. Firstly, government funding in the form of monetary benefits and other programs must be consistent. The next key consideration is unimpeded access to highly trained and eligible workers. The country’s position is also significant, as it can make foreign markets easier for companies to enter.
