Tag: Tesla billionaires

  • Top Countries with Most number of Billionaires 2021

    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.

    United States
    China
    India
    Germany
    Russia
    Hong Kong
    Brazil
    Canada
    United Kingdom
    Italy
    Japan
    Taiwan
    Australia
    South Korea
    France
    Sweden
    Switzerland
    Thailand
    Spain
    Singapore
    Turkey
    FAQ

    United States

    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
    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.

    India has around 177 billionaires in the country. The top billionaires of the country are,

    Mukesh Ambani with a net worth of USD 88.7 billion. His main source of wealth is through Reliance Industries.

    Gautam Adani with a net worth of USD 25.2 billion. His main source of wealth is through Adani Ports and SEZ.

    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
    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.


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    Hong Kong

    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.

    Yin-Chun who has a net worth of USD 7.2 billion.

    Yin-heng who has a net worth of USD 7.2 billion.


    Billionaires getting richer even during the Pandemic and post crisis
    The worldwide COVID-19 pandemic may have pushed the world economy into a chaoticsituation, with 2020 projected to be worse than any of the years since theglobal financial crisis. But billionaires, in the selected group of countries,have seen their financial situation improve during the phase of p…


    Australia

    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.

    Juan Roig with a net worth of USD 5.1 billion.


    World’s billionaires to invest $1 Billion to Combat Climate Change
    Bill Gates [https://startuptalky.com/tag/bill-gates/], Jeff Bezos,[https://startuptalky.com/tag/jeff-bezos/] Mark Zuckerberg[https://startuptalky.com/tag/mark-zuckerberg/…


    Singapore

    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.

  • Why does TESLA not provide employees with a Retirement Fund?

    In a series of tweets, the twitterati took a dig at the world’s richest man, Elon Musk. The CEO of Tesla was targeted since Tesla skipped matching the 401(k) contribution straight for a third year. Twitter was divided in two parts, one in favor of Elon Musk and the other criticizing him for not doing the needful for the retirement funds of Tesla’s employees. The man in the spot, Musk noticed this tweet and answered that his employees have an option of buying company stocks and the company treats its employees as part owners.

    We will be looking closely at how TESLA compensates its employees, how much is the company worth and how largely benefitted its employees actually are. Lets take a look at TESLA, the company.

    Tesla in a nutshell
    What is 401(k)?
    Why does TESLA not match contributions to 401(k)?
    How TESLA employees are becoming millionaires?
    TESLA and Retirement Contribution – Opinion
    FAQs

    Tesla in a nutshell

    TESLA is a company involved in transportation and energy businesses. It sells cars under its “TESLA Motors” division and stationary battery packs for home, commercial and utility-scale projects under its “TESLA Energy” division.

    The company is led by Elon Musk. he is the CEO, co-founder, Chairman and Product Architect.

    TESLA has more net worth than all its rivals combined such as Fiat Chrysler ($20 billion), Ford ($24 billion), Ferrari ($32 billion), General Motors ($36 billion), BMW ($41 billion), Honda ($46 billion) and Volkswagen ($74 billion). TESLA’s cars are said to be the most valuable cars in the world.

    TESLA is a giant with a market cap of $164 billion dollars and as of 2020 has 70,757 employees working for it.

    Now why would a company like TESLA not be contributing to its employees’ retirement fund? How does Tesla compensate its employees? How are Tesla employees becoming millionaires? We are about to find out. Let us first understand how Retirement funds are managed in the USA.


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    What is 401(k)?

    401(k) plan is a tax-advantaged, defined contribution retirement account provided by employers to their employees in the USA. It is named after a section of US Internal Revenue Code.

    401(k) Retirement Plan

    Employees can make contributions to the 401(k) accounts thorough automatic payroll withholding and their employers can match some, or all those contributions. These contributions are taxed after the employee withdraws the money, typically after retirement.

    Employers who match their employee contributions use different formulas to calculate that match. A common example might be 50 cents or $1 for every dollar the employee contributes up to a certain percentage of salary. Financial advisors often recommend that employees try to contribute at least enough money to their 401(k) plans each to get the full employer match.


    Problems Tesla will face in India
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    Why does TESLA not match contributions to 401(k)?

    TESLA skipped matching the 401(k) contributions to the employee retirement fund consecutively for year three and twitter had its fair share of questions for Elon Musk. The TESLA CEO responded to the accusations on twitter saying that “Everyone at TESLA receives stock. My company is all Stock/Options, which I do not take off the table.”

    Elon Musk responded to the tweet accusing him of not matching the contributions to the employees retirement fund

    It is not rare for tech companies to compensate their employees through stock options. However, TESLA is an automaker first, mixed with tech. Auto companies do not offer stock options for all employees throughout the organization.

    TESLA offers its employees stocks options as compensation. With recent surge in the company’s share prices, TESLA stocks are creating new millionaires. However, over the years TESLA has made salary cuts in various departments, especially sales.


    What is Cybertruck and its specifications
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    How TESLA employees are becoming millionaires?

    With a recent surge in TESLA share price, (more than 200% this year alone) TESLA’s employees are compounding on their wealth. Here is a glance at TESLA’s top executives and how much of a stake they hold in the company.

    • Drew Baglino, Tesla SVP of Powertrain and Energy Engineering, holds 4,222 Tesla shares. His stake in the company is now worth more than $5.7 million. Baglino is one of the top engineers at Tesla where he gradually moved up the ranks during his 14-year tenure at the automaker.
    • Jerome Guillen, president of TESLA motors, holds 9,752 Tesla stocks worth over $13 million. Guillen has led several key programs at Tesla.
    • Zachary Kirkhorn, Tesla’s young CFO, owns 11,831 shares of Tesla, which are now worth over $16 million. Like Tesla’s stock, Kirkhorn had a meteoric rise of his own at Tesla. At 35, he is the youngest CFO in TESLA.

    Of course, no one is getting richer than CEO Elon Musk as part of this incredible run. Musk owns 34,098,597 TSLA shares — making his stake in Tesla worth more than $46 billion.

    Musk’s brother, Kimbal Musk, who is also on Tesla’s board, is significantly benefiting from the rise in Tesla’s stock price. He had 130,848 Tesla shares, which are now worth more than $175 million.

    Other Tesla VPs, directors, and even managers are likely to benefit greatly from Tesla’s massive stock price increase — creating several new millionaires.

    Several key engineers in batteries, manufacturing, and construction, especially the execs behind Gig factory Nevada, also received massive stock grants worth millions at the time. With the recent price run, employees who held onto their shares are now millionaires.

    Tesla also awards performance-based equity bonuses, but those have been put on hold amid the coronavirus crisis. Therefore, employees who have been holding shares since last year are the ones benefiting the most from this recent TSLA run.


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    TESLA and Retirement Contribution – Opinion

    Although TESLA’s employees and executives have amassed great benefits through its price run, financial experts suggest that it is always better to have the employees compensated with access to retirement contributions. Since the stock market is volatile and unpredictable, the employees will benefit only until the stock prices go up. According to reports, TESLA has not been making great profits, but thanks to the price run in shares, no one’s complaining. Having said that, not matching the employers contribution may be risky for the employees as it isn’t entirely compensatory to the average employee and without the inflated share price, they would be doomed.

    FAQs

    How many employees work at TESLA?

    Currently, there are 70,757 employees working for TESLA (2021)

    How does TESLA compensate its employees?

    Along with added bonuses to the salary, TESLA offers its employees stock options as compensation.

    Is TESLA coming to India?

    Elon Musk confirmed that TESLA would be entering India by setting up a plant in Bengaluru, Karnataka.