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Read Ebook {PDF EPUB} the Billionaire CEO by Jolie Read Ebook {PDF EPUB} The Billionaire CEO by Jolie Day Billionaire Ray Dalio says he owns bitcoin, and its 'greatest risk is its success' Though billionaire investor Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, has previously expressed concern about the future of bitcoin, he has also noted that the cryptocurrency earned his respect. Now, he reveals, "I have some bitcoin," Dalio told CoinDesk during its 2021 Consensus conference. The interview was recorded on May 6 and published Monday. But Dalio maintains that the cryptocurrency still faces risk. "Bitcoin's greatest risk is its success," he said. And if it succeeds, "one of the great things, I think, as a worry is the government having the capacity to control . bitcoin, or the digital currencies. They know where they are, and they know what's going on," he said. "The more we create savings in [bitcoin], the more you might say, 'I'd rather have bitcoin than the bond.' Personally, I'd rather have bitcoin than a bond. And then the more that happens, then it goes into bitcoin and it doesn't go into credit, then [governments] lose control of that." This isn't the first time Dalio expressed concern about the risk of government regulation. "I am not a bitcoin/cryptocurrency expert," he wrote in a January post titled "What I Think of Bitcoin," but "I suspect that Bitcoin's biggest risk is being successful, because if it's successful, the government will try to kill it and they have a lot of power to succeed." In March, Dalio warned of the possibility that the U.S. government could ban bitcoin as it did with gold during the 1930s if the cryptocurrency is seen as a competitive threat to Treasury bonds. However, James Ledbetter, editor of fintech newsletter FIN and a CNBC contributor, previously told CNBC Make It that it'd be quite difficult for the government to effectively ban bitcoin. Although there's "concern or risk around regulation" of bitcoin, "I don't think even a concerted effort among different countries and different central banks could actually shut down bitcoin," Ledbetter said. "I don't think that's technologically possible. But there are ways that bitcoin could be regulated." Nonetheless, "the world is going to change at an incredibly fast pace," Dalio told CoinDesk. "Whoever wins the technology race, wins it all, economically, and militarily. That's what the next five years looks like." Masayoshi Son, the CEO of SoftBank and the 2nd-richest person in Japan, joins the growing chorus of voices calling to cancel the Tokyo Olympics. Billionaire SoftBank founder Masayoshi Son has joined growing calls to cancel the Tokyo Olympics as Japan struggles with a new coronavirus surge and many parts of the country remain under a state of emergency. "Currently more than 80% of people want the Olympics to be postponed or canceled. Who and on what authority is it being forced through?" Son wrote on Twitter in Japanese on Saturday. Son, who founded SoftBank in 1981 and has invested millions in financial, healthcare, and tech companies like Uber, ByteDance, and SoFi through the conglomerate, is Japan's second-richest person with a net worth of $30.3 billion. The day after his first tweet, the billionaire investor wrote: "There's talk of a huge penalty (if the Games are canceled), but if 100,000 people from 200 countries descend on vaccine-laggard Japan and the mutant variant spreads, I think we could lose a lot more: Lives, the burden of subsidies if a state of emergency is called, a fall in gross domestic product, and the public's patience." It's still unclear just how many people will be at the Tokyo Olympics, where about 11,000 athletes are expected to compete. In March, the Japanese government decided to ban foreign spectators from attending the Games due to the emergence of new COVID-19 variants. As for local fans, the organizing committee has not announced how many spectators will be allowed to attend the Games, though it previously said it was considering capping capacity at 50%. Son did not immediately reply to Insider's request for clarification on the 100,000 number mentioned in his tweet. Son's remarks came after International Olympic Committee Vice President John Coates said at an online news conference on Friday that the Games would "absolutely" go ahead even if Japan were under a state of emergency. The SoftBank CEO's voice joins growing calls to halt the Olympics as Japan struggles to keep its coronavirus outbreak under control. A poll last week found that more than 80% of Japanese residents want the Olympics to be canceled. In the same week, a group of 6,000 Japanese doctors wrote an open letter to Prime Minister Yoshihide Suga saying that Japan's healthcare system could be overwhelmed if the Games are held as scheduled. Many have taken to the streets to protest the Games going ahead. The Games, which were already postponed from their original dates in 2020, are set to kick off on July 23. Meanwhile, the government said on Sunday that it's considering extending the states of emergency in Tokyo, Osaka, and seven other prefectures beyond their original May 31 end date. Japan recorded 5,041 new coronavirus cases on Saturday and only 2% of its population is fully vaccinated, according to Bloomberg's Vaccine Tracker. Billionaire Carl Icahn Mulls Over Diving Into Cryptocurrency in a 'Big Way' With About $1.5 Billion Investment. Billionaire investor Carl Icahn, the founder of Icahn Enterprises, says that his company is exploring how to get involved in cryptocurrency “in a relatively big way,” which he said could be an investment of about $1.5 billion. Carl Icahn Exploring Getting Into Cryptocurrency. Carl Icahn, the founder and controlling shareholder of Icahn Enterprises, a diversified conglomerate holding company based in New York City, revealed his cryptocurrency plan in an interview with Bloomberg on Wednesday. He said: I’m looking at the whole business and how I can get involved in it with Icahn Enterprises in a relatively big way because, I think, it’s here to stay in one form or another. Icahn is one of Wall Street’s most successful investors. In 1678, he formed Icahn & Co., a securities firm focusing on arbitrage and options trading. In 1978, he began taking substantial positions in individual companies, including RJR Nabisco, Texaco, Phillips Petroleum, Western Union, Gulf & Western, Viacom, Uniroyal, Dan River, Marvel, Revlon, Fairmont, Time Warner, Yahoo, Lions Gate, CIT, Motorola, Genzyme, Biogen, Chesapeake Energy, El Paso, Amylin Pharmaceuticals, Lawson Software, Medimmune, Dell, Netflix, Forest Laboratories, Apple, and Ebay. The billionaire investor was asked specifically what a “relatively big way” means for him and his company. He described: A big way for us would be a billion dollars, a billion and a half dollars, something like that. That would be sort of a big way, I guess, for us. But sometimes we go bigger than that, sometimes a lot smaller. Im not going to say exactly. Icahn further clarified: “To be clear, we have never bought any cryptocurrency, but we are studying it.” The billionaire noted that many cryptocurrencies out there are overvalued in his view. He opined: “Much of the cryptocurrency issued today will not survive, but we believe cryptocurrency in one form or another might be here to stay.” What do you think about Carl Icahn getting into cryptocurrency in “a relatively big way”? Let us know in the comments section below. The Biggest Billionaire Feuds. Billionaires. They're just like us. Not really. However, despite their incredible wealth, they always have time to get into petty spats or to publicly denigrate each other. And with the recent proliferation of social media, some use their platform to fire off hot takes on the topical issue of the day. Elon Musk, everyone's favorite severely online CEO of Tesla, Inc. and SpaceX, has no filter on Twitter. Example: "The coronavirus panic is dumb," he tweeted during a possible pandemic. Another gem: "Coachella should postpone itself until it stops sucking," he tweeted. Never change, Elon. And then there's Jeff Bezos, the Amazon CEO and richest man in the world. In January 2019, Business Insider estimated the online retail giant founder was earning slightly more than minimum wage at the time, hauling in approximately $149,353 per minute. Does he get dental with that? Anyway, as a result of his fantastical wealth, many to view him as the avatar for the American dream, but just as many to see him as Lex Luthor come to life. Feuds come quickly for Bezos. This much money can cause quite a few enemies, so whether they are trading barbs with each other, staring down a hostile Congress, or using their enormous wealth and power to crush things they don't like, here are some of the recent and biggest billionaire feuds. Donald Trump vs Michael Bloomberg. It was only a matter of time before Donald Trump (est. $3.1 billion) and Michael Bloomberg (est. $56.1 billion) started feuding after the former mayor of New York City entered the 2020 presidential race. In the classic Trump style, the nickname came quickly. "Mini Mike is a 5'4" mass of dead energy who does not want to be on the debate stage with these professional politicians. No boxes please," Trump tweeted. To which Bloomberg responded, "We know many of the same people in NY. Behind your back, they laugh at you & call you a carnival barking clown. They know you inherited a fortune & squandered it with stupid deals and incompetence." Bloomberg ratcheted up the feud by purchasing billboards in Las Vegas ahead of the Nevada debate and caucuses that read, "Donald Trump cheats at golf," and "Donald Trump eats burnt steak" (via CBS News ).
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