DOCSLIB.ORG

Wealth Impact 4Mths After Covid-19 Outbreak’

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

HURUN SPECIAL REPORT ON ‘WEALTH IMPACT 4MTHS AFTER COVID-19 OUTBREAK’ BIGGEST WINNERS: JEFF BEZOS OF AMAZON SAW WEALTH SHOOT UP US$20BN TO US$160BN IN 4MTHS SINCE COVID-19 OUTBREAK. ANOTHER E-TAILER HUANG ZHENG, 40, OF CHINESE ECOMMERCE GIANT PINDUODUO, WAS SECOND BIGGEST WINNER, UP US$17BN, DOUBLING WEALTH TO US$35BN. BEZOS ADDED US$7 MILLION AN HOUR EVERY HOUR FOR THE PAST FOUR MONTHS GIOVANNI FERRERO, 55, SCION OF ITALIAN CHOCOLATE PRODUCERS THAT MAKE KINDER SURPRISE, NUTELLA AND FERRERO ROCHER, SAW WEALTH RISE US$8BN TO US$42BN ELON MUSK, 48, UP US$7BN TO US$53BN, ON BACK OF TESLA SHARE RISE TO BECOME WORLD’S MOST VALUABLE CAR COMPANY BIGGEST WINNERS OF COVID-19 FROM HURUN TOP 100 WERE ONLINE RETAILERS, PHARMACEUTICALS AND HOME IMPROVEMENT RETAILERS AS WELL AS CHOCOLATE, SOYA SAUCE AND PORK PRODUCERS FASTEST INCREASE: CHINA-BORN ERIC YUAN ZHENG, 50, OF POPULAR CALIFORNIA-BASED VIDEO CONFERENCING APP ZOOM SAW WEALTH TRIPLE FROM US$4.5BN TO US$13BN, UP FROM 555TH TO TOP 150 IN WORLD “EVEN AFTER HIS DIVORCE, JEFF BEZOS IS US$60BN RICHER THAN BILL GATES, THE BIGGEST EVER DIFFERENCE BETWEEN THE WORLD’S TOP TWO,” SAID HOOGEWERF. WORLD’S TOP 100 BILLIONAIRES CLAW BACK ALMOST ALL LOSSES IN SECOND TWO MONTHS OF COVID OUTBREAK, AFTER US$408BN LOSS IN FIRST TWO MONTHS. DOWN ONLY 2% IN FOUR MONTHS ‘VACCINE KING’ CYRUS POONAWALLA OF SERUM INSTITUTE OF INDIA, UP 25% AND 57 PLACES TO US$15BN AND 86TH PLACE, ON BACK OF COVID-19 VACCINE DISTRIBUTION POTENTIAL V-SHAPED RECOVERIES: MUKESH AMBANI OF RELIANCE SAW WEALTH BOUNCE BACK US$18BN IN LAST TWO MONTHS, AFTER LOSING US$19BN IN FIRST TWO MONTHS AFTER OUTBREAK, TAKING HIM TO 8TH PLACE IN THE WORLD. SIMILARILY, MARK ZUCKERBERG SAW WEALTH DROP US$13BN IN FIRST TWO MONTHS OF OUTBREAK, BUT THEN CLAW BACK US$13BN, TO TAKE HIM TO 4TH IN THE WORLD. BY COUNTRY, USA HAS 36%, UP 1%, OF THE HURUN GLOBAL TOP 100, FOLLOWED BY CHINA ON 24%, UP 2% ON FOUR MONTHS AGO. BIGGEST LOSERS: WARREN BUFFETT AND BERNARD ARNAULT LOST US$18BN EACH, FOLLOWED BY CARLOS SLIM DOWN US$17BN EQUIVALENT TO US$6MN AN HOUR OVER 4MTHS. 14 INDIVIDUALS LOST MORE THAN US$5BN. OTHER BIG RISERS INCLUDE CHINESE ‘SOYA SAUCE KING’ PANG KANG, 58, OF HAITIAN, UP 36% OR US$4BN TO US$15BN. LEADING AUTHORITY ON GLOBAL WEALTH RELEASES SPECIAL REPORT ON WEALTH IMPACT 4MTHS AFTER COVID-19 OUTBREAK 1 / 9 23 June 2020, Shanghai, Mumbai and Oxford. Hurun Research today released Wealth Impact 4mths after Covid-19 Outbreak, a special report looking into wealth changes of the world’s most successful entrepreneurs in the four months ending 31 May 2020. This special report follows on from the Wealth Impact 2mths after Covid-19 Outbreak looking into wealth changes in the two months ending 31 March 2020 and the Hurun Global Rich List 2020, which had a wealth cut-off of 31 January 2020. Stock markets across the world dropped significantly in the first two months after the outbreak but clawed back some of the losses in the second two months. India, the UK and France were down around 20%, with the NYSE, Japan, HK and Germany down around 10%. Mainland China’s stock exchanges were down slightly at 4%, whilst the only major stock market to see a gain was NASDAQ, up 4%. The British Pound and Indian Rupee were down 5.6% down 5.3% against the dollar, whilst the Chinese Yuan and Euro were up 2% and 1%. In the four months since the outbreak, 60% of the Hurun Global Rich List Top 100 saw their wealth rise or stay the same, whilst 40% were down. Rupert Hoogewerf, Hurun Report chairman and chief researcher, said “Whilst the first two months of the outbreak saw a massive wealth wipeout of the Hurun Global Top 100, the second two months saw a V-shaped recovery for two thirds of the Hurun Global Top 100, reminding us that it is dangerous to bet against the world’s best wealth creators.” “The two biggest ‘winners’ from the Hurun Top 100 of Covid-19 were online retailers Jeff Bezos of Amazon and Colin Huang Zheng of Chinese low-end ‘social shopping’ giant Pinduoduo, who added US$20bn and US$18bn to their fortunes, pretty much all the gains coming in the past two months. For Bezos and Huang, Covid-19 has seen their wealth increase in the shape of a ‘Nike tick’”, added Hoogewerf. “Another big winner was Eric Yuan Zheng, 50, of popular video conferencing app Zoom, who saw his wealth triple from US$4.5bn in January to US$13bn today, propelling him up from 555th in the world four months ago to knocking on the door of the world’s Top 100 today.” Table: Biggest Wealth Creations of the Hurun Global 100 in the 4mths to 31 May 2020 Wealth Country of Name change Main Company Main Industry Residence US$bn 1 Jeff Bezos 20 Amazon Online Retail USA 2 Huang Zheng 17 Pinduoduo Online Retail China 3 MacKenzie Bezos 9 Amazon Online Retail USA 4 Giovanni Ferrero 8 Ferrero Rocher Chocolates Belgium 5 Elon Musk 7 Tesla Motors E-Cars USA 6 Bertrand Puech & family 6 Hermes Luxury France 7 Robson Walton 4 Walmart Groceries USA 7 Sun Piaoyang & Zhong Huijuan 4 Hengrui, Hansoh Pharmaceuticals China 7 Pang Kang 4 Haitian Soya Sauce China 7 Liu Yonghao & Family 4 New Hope Pork Production China 7 Zhang Yong & Shu Ping 4 Haidilao Restaurants China Source: Hurun Research Institute 2020 Huang Zheng, 40, of e-commerce platform Pinduoduo, was the fastest riser of the Hurun Global Rich List Top 100 of the past four months, seeing his wealth almost double. The top 5 fastest risers were all from China. Table: Fastest Risers of the Hurun Global 100 in the 4mths to 31 May 2020 Net % Main Country of Name Worth Main Industry change Company Residence US$Bn 1 Huang Zheng 94% 35 Pinduoduo China Online Retail 2 Pang Kang 36% 15 Haitian China Soya Sauce 3 Xu Hang 31% 14 Mindray China Medical Equipment 4 Liu Yonghao & family 28% 16 New Hope China Pork Production 5 Zhang Yong & Shu 25% 20 Haidilao China Restaurants 2 / 9 Ping 5 Cyrus Poonawalla 25% 15 Serum India Vaccines 7 Liu Qiangdong 24% 16 JD China Online Retail Ferrero 7 Giovanni Ferrero 24% 42 Belgium Chocolates Rocher Home Improvements 9 John Menard Jr 23% 17 Menards USA Stores 10 MacKenzie Bezos 20% 53 Amazon USA Online Retail Source: Hurun Research Institute 2020 Biggest losers The biggest losers in the last four months were Bernard Arnault of LVMH and Warren Buffett, each down US$18bn, followed by Carlos Slim Helu down US$17bn and Amancio Ortega of Inditex down US$14bn. Hoogewerf said “Bernard Arnault and Warren Buffett were the biggest losers, down US$18bn each over the past 4mths. For Arnault it could have been a lot worse, since he was down US$30bn in the first two months after the outbreak, but managed to claw back US$12bn in the following two months.” As a category, investors made the biggest losses. Sheldon Adelson of Las Vegas Sands saw his wealth drop US$7bn, on the back of poor performance of his casinos since the outbreak. Table: Biggest Wealth Drops in 4 mths to 31 May 2020 in the Hurun Global 100 Wealth Country of Name Main Company Main Industry drop US$bn Residence 1 Bernard Arnault 18 France LVMH Luxury 1 Warren Buffett 18 USA Berkshire Hathaway Investments 3 Carlos Slim Helu & family 17 Mexico America Movil Investments 4 Amancio Ortega 14 Spain Inditex Single Brand Retailing 5 Michael Bloomberg 8 USA Bloomberg Media 5 Carl Icahn 8 USA Icahn Enterprises Investments 7 Sheldon Adelson 7 USA Las Vegas Sands Casinos 8 Bill Gates 6 USA Microsoft Investments 8 Xu Jiayin 6 China Evergrande Real Estate 8 Jorge Paulo Lemann 6 Switzerland 3G Capital Investments 8 Vagit Alekperov 6 Russia Lukoil Energy Source: Hurun Research Institute 2020 By country In the four months to 31 May 2020, China added 3 individuals to the world’s Top 100 billionaires, with the USA, Russia and Italy each adding one. The USA today has 39 in the Top 100, compared with 26 from China. “China has narrowed the gap with the USA at the top of the Hurun Global Rich List, from 13 down to 11.” World’s Top 10 Jeff Bezos of Amazon and Steve Ballmer of Microsoft were the only two from the Hurun Global Top 10 to see their wealth increase. Table: Hurun Global Top 10 , as of 31 May 2020, compared with 31 Jan 2020 Rank Net Worth % Country of Name Main Company Change US$Bn change Residence 1 - Jeff Bezos 160 14% Amazon USA 2 Up 1 Bill Gates 100 -6% Microsoft USA 3 Down 1 Bernard Arnault 89 -17% LVMH France 3 / 9 4 - Warren Buffett 84 -18% Berkshire Hathaway USA 4 Up 1 Mark Zuckerberg 84 0% Facebook USA 6 Up 3 Steve Ballmer 68 1% Microsoft USA 7 Down 1 Amancio Ortega 67 -17% Inditex Spain 8 - Sergey Brin 66 -3% Google USA 8 Up 1 Mukesh Ambani 66 -1% Reliance India 10 Down 1 Larry Page 65 -3% Google USA Source: Hurun Research Institute 2020 Related links Wealth Impact 2mths after Covid-19 Outbreak https://www.hurun.net/EN/Article/Details?num=E62B0CAA355A Hurun Global Rich List 2020 https://www.hurun.net/EN/Article/Details?num=775CEFAE8BF8 Hurun Richest Women in the World 2020 https://www.hurun.net/CN/Article/Details?num=76824AC0C3BB Hurun 40 & Under Self-Made Billionaires 2020 https://www.hurun.net/EN/Article/Details?num=9A660E5EF44A Hurun Global Real Estate Rich List 2020 https://www.hurun.net/EN/Article/Details?num=CCCB9E3C7369 Hurun Global Education Rich List 2020 https://www.hurun.net/EN/Article/Details?num=8AF475DC1457 About Hurun Report Inc.
Recommended publications
  • World's Richest Get $182 Billion Poorer

    World's Richest Get $182 Billion Poorer

    World’s Richest Get $182 Billion Poorer 12/29/15, 3:34 PM World’s Richest Get $182 Billion Poorer By: DailyForex.com They say the rich get richer and the poor get poorer. But in 2015, it was the world’s richest that got poorer, losing a walloping $182 billion this past week alone. The world’s 400 richest people reacted to weak manufacturing data from China and the retreat in commodities which sent global markets plunging. According to the Bloomberg Billionaires Index which measures the world’s wealthiest people based on market and economic changes, falling commodities prices and signs of a slower- growing China scared investors around the world and are to be blame for the first annual decline for the daily wealth index since it debuted in 2012 and the biggest weekly drop since the expanded tracking list began in September 2014. The Bloomberg Billionaires Index is a group that includes Warren Buffett and Glencore Plc’s Ivan Glasenberg and the combined net worth of the index members fell by $76 billion on Friday alone, when the Standard & Poor’s 500 Index of U.S. stocks ended its worst week since 2011. The collapse in oil prices, which has seen its longest weekly losing streak since 1986 amid signs of an extended supply glut, contributed to $15.2 billion in losses for the world’s wealthiest energy billionaires. Continental Resources Inc. Chairman Harold Hamm saw $895 million, or 9 percent of his net worth, vanish in a week. Change of Places According to the Bloomberg Billionaires Index….
  • 4607 Stores 11084 Millions Of

    4607 Stores 11084 Millions Of

    4,607 stores millions of 11,084 euros in sales countries with 74 sales presence 92,301 employees nnual A Report 2009 Global Reporting 6 Initiative Indicators Letter from the 14 Chairman Inditex business 16 model 18 53 54 163 IP Inditex Performance IC Inditex Commitment Summary of 2009 Customers, shareholders 20 financial year 56 and society Milestones Corporate Social 26 for the year 66 Responsibility Commercial Human 28 concepts 124 Resources International Environmental 46 presence 136 dimension 4 Inditex Annual Report 2009 164 309 LD Legal Documentation Economic and financial 167 report Corporate governance 233 report Activities Report 296 Audit and Control Committee Activities Report Nomination 303 And Remuneration Committee Verification of the audit of 308 GRI indicators 5 lobal G Reporting Initiative Indicators With transparency as the fundamental principle in its relationship with society, Inditex has followed the Global Reporting Initiative indicators since it published its first Sustainability Report in 2002. Using this guide, Inditex attempts to provide detailed, organised access to the infor- mation on its activity to all its stakeholders. Within the general indicators, specific indicators for the textile and footwear sector have been included, identified in the following way: Specific indicator for the sector Specific indicator comment for the sector 6 Inditex Annual Report 2009 Pages 1. STRATEGY AND ANALYSIS 14-15 1.1 Statement from the most senior decision-maker about the relevance of sustainability to the organisation and its strategy. 267-273, 1.2 Description of key impacts, risks, and opportunities. 20-25 Apparel and Footwear Sector Specific Commentary: Where applicable, this should include an assessment of supply chain performance.
  • How the Economic Machine Works

    How the Economic Machine Works

    Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing Countries Succeed by Ray Dalio In this report the drivers of productivity are shown and are used to create an economic health index. That index shows how 20 major countries are doing as measured by 19 economic health gauges made up of 81 indicators, and it shows what these gauges portend for real GDP growth in each of these countries over the next 10 years. As you will see, past predictions based on this process have been highly reliable. For this reason this economic health index provides both a reliable prognosis for each of these country’s growth rates over the next 10 years and a reliable formula for success. By looking at these cause-effect relationships in much the same way as a doctor looks at one’s genetics, blood tests and regimes for exercise and diet, we can both see each country’s health prospects and know what changes each can make so that these countries can become economically healthier. We are making this research available in the hope that it will facilitate the very important discussions about structural reforms that are now going on and will help both the public and policy makers to look past their ideological differences to see the economy as a machine in much the same way as doctors see bodies as a machine and look at the relationships of cholesterol and heart attacks analytically rather than ideologically. The Template This study is presented in three parts: • In Part 1, “The Formula For Economic Success,” we show how indicators of countries’ productivity and indebtedness would have predicted their subsequent 10-year growth rates going back 70 years, and how these economic health indicators can be used to both predict and shape the long-term economic health of countries.
  • 2018 Fore- Machines, Rather Than Humans

    2018 Fore- Machines, Rather Than Humans

    CREATING PUBLIC VALUE BY ENGAGING BUSINESS AND GOVERNMENTGOVERNMENT Seminars & Events M - RCBG ED BALLS PLANNING AND PETER MILESTONE SANDS PFUBLISHALL EVENTS ON Seminars & Events M-RCBG has over 80 seminars USINESS WNERS AND REXIT As M-RCBG continues toB celebrate the 30th O anniversary of the Center’sB founding, it is planning Mand-RCBG events has over scheduled 30 seminars each and events scheduled for the fall semester. Below is a numerous events this semester as it continues to seek new ways to add value to our changing semester. Below are a few of the worldl Among them are: British businesses want to stay in the customs small selection. Please see our website upcoming events. For a complete union and the single market after Brexit, accord- (www.hks.harvard.edu/centers/mrcbg) for a A 30th anniversary forum lecture on “The Vexed Relationship between Business & Govern- completelisting, listing. visit www.mrcbg.org. ment”. Speakers will include Centering to Director a Harvard Lawrence survey Summers, conducted Prof. Roger by Porter,M-RCBG Ben Heineman and Nina Easton (JFKresearch Jr. Forum, fellow October Ed 30, Balls 6pm).. The former shadow Regulatory Policy: The James Hammitt,EU Harvard Variation; School of Public The 2012 Glauber Lecture featuring Ed Haldeman, former CEO of Freddie Mac (JFK Jr. Fo- chancellor interviewed over 120 individual busi- Health. PositiveElizabeth v. Normative Golberg, Justifications rum, October 18, 6pm). nesses, trade associations and experts in Britain of Cost Benefit Analysis.European Bell Hall,Commis- October 4, 11:45-1pm. The 20th Doyukai Symposium will focus on “A Vision for Japan in 20 Years”.
  • Average Net Worth of Billionaires by Country: 2013 Hurun Rich List

    Average Net Worth of Billionaires by Country: 2013 Hurun Rich List

    Average Net Worth of Billionaires by Country: 2013 Hurun Rich List B. C. Forbes, the founder of Forbes magazine, published the most authoritative and first ever list of 30 wealthiest Americans on March 2, 1918. John D Rockefeller, America’s first billionaire, heads this first ever list, with a fortune of $1.2 billion. Then, in 1982 Forbes started publishing the list of 400 wealthiest Americans which changed the way Americans look at the very rich. The first 400 list in 1982 had only 13 billionaires and a net worth $75 million was enough to secure a spot, Ref. [4]. By 2006, all 400 spots were occupied by billionaires. Following the financial crisis of 2008, when many billionaires saw their fortunes plunge, the minimum net worth to enter the list had fallen below $1 billion (to $950 million) but was back up to $1 billion by 2010; see Ref. [4]. In 2011, the price for entry was $1.05 billion, Ref. [5]. Table 1: Comparison of the Forbes and Hurun Rich lists Forbes 2013 Hurun 2013 Billionaires Rich List Worldwide billionaires, N 1426 1453 Number of countries 64 56 Combined worldwide wealth, UN $5.425 trillion $5.491 trillion US billionaires, N 442 409 US combined net worth, UN $1.872 trillion $1.712 trillion Chinese billionaires, N 122 317 Chinese combined net worth $262.91 billion $810.1 billion About $550 billion added to Chinese wealth and $160 billion taken away from US wealth, implying a significant difference in the wealth distribution among billionaires from the other countries (56 versus 64) in these two lists.
  • Top 10 Billionaires of the World

    Top 10 Billionaires of the World

    TOP 10 BILLIONAIRES OF THE WORLD 16 JAN 2018 Top 10 billionaires of the world according to Bloomberg Billionaires Index as on January 10 2018. 1. 6. Jeff Bezos | Net worth - USD 106 billion | Amazon CEO Carlos Slim | Net worth - USD 64 billion | Mexican and founder Jeff Bezos is the largest shareholder of the billionaire and controller of the Telco American Movil firm. He recorded a net worth of USD 90 billion in October Carlos Slim has holdings in banking and mining in Latin last year. America. He is also interested in investing in construction businesses. 2. Bill Gates | Net worth - USD 93.3 billion | Microsoft co- 7. founder Bill Gates continues to be a part of the rich list. He Bernard Arnault | Net worth - USD 62.4 billion | French has been a part of the list since 1987, where, most times he Businessman Bernard Arnault is the chairman of LVMH has been ranked the richest in the world. Moet Hennessy Louis Vuitton. It is currently the largest luxury goods maker. 3. Warren Buffett| Net worth - USD 87.3 billion| CEO and 8. largest shareholder of Berkshire Hathaway Warren Buffett Larry Page | Net worth - USD 55 billion | Larry Page is continues to be one of the richest in the world. The firm has the CEO and co-founder of Alphabet, the holding stakes in Coca-Cola, American Express and Wells Fargo, company of Google - the world's largest search engine. among other profit-making firms. 9. 4. Larry Ellison | Net worth - USD 54.7 billion | Larry Mark Zuckerberg | Net worth - USD 77.3 billion | Facebook Ellison is the founder and largest shareholder of Oracle, co-founder and CEO Mark Zuckerberg owns the largest one of the largest database companies in the world.
  • Oundtable Reenwich

    Oundtable Reenwich

    The Education Committee of reenwichThe oundtable G Knowledge,R Veracity, Fellowship 2010 In This Issue The Art of Asking Questions Best Practices in Hedge Fund Strategies Alternative Investments: DUE DILIGENCE Private Illiquid Strategies The Final Analysis The Greenwich Roundtable One River Road Cos Cob, Connecticut 06807 Tel.: 203-625-2600 Fax: 203-625-4523 www.greenwichroundtable.org Best Practices in alternative investments: www.greenwichroundtaBle.org due diligence Research About the Greenwich Education Council Roundtable Committee Tudor Investment Corporation The Greenwich Roundtable, Inc., is a not-for- BEST PRACTICE MEMBERS Blenheim Capital Management profit research and educational organization located in Greenwich, Connecticut, for investors Robert M. Aaron Bridgewater Associates, Inc. who allocate capital to alternative investments. Gilwern Investments, LLC It is operated in the spirit of an intellectual BlackRock, Inc. cooperative for the alternative investment Benjamin Alimansky Moore Capital Management community. Its 150 members are comprised of Glenmede Trust mostly institutional and private investors, who The Lumina Foundation collectively control $4.5 trillion in assets. Edgar W. Barksdale Federal Street Partners The purpose of the Greenwich Roundtable is to discuss and provide current, cutting-edge Ray Gustin IV information on non-traditional investing. Our Drake Capital Advisors, LLC mission is to reveal the essence of both trusted and new investing styles and to create a code of Damian Handzy best practices for the alternative investor. Investor Analytics Brijesh Jeevarathnam Commonfund Capital, Inc. Jennifer Keeney Tatanka Asset Management, LLC The Research Council enables the Jeffrey P. Kelly Greenwich Roundtable to host Summit Rock Advisors the broadest range of investigation that serves the interests of the Russell L.
  • China Consumer Close-Up

    China Consumer Close-Up

    January 13, 2015 The Asian Consumer: A new series Equity Research China Consumer Close-up The who, what and why of China’s true consumer class Few investing challenges have proven more elusive than understanding the Chinese consumer. Efforts to translate the promise of an emerging middle class into steady corporate earnings have been uneven. In the first of a new series on the Asian consumer, we seek to strip the problem back to the basics: Who are the consumers with spending power, what drives their consumption and how will that shift over time? The result is a new approach that yields surprising results. Joshua Lu Goldman Sachs does and seeks to do business with +852-2978-1024 [email protected] companies covered in its research reports. As a result, Goldman Sachs (Asia) L.L.C. investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Sho Kawano Investors should consider this report as only a single factor +81(3)6437-9905 [email protected] Goldman Sachs Japan Co., Ltd. in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Becky Lu Appendix, or go to www.gs.com/research/hedge.html. +852-2978-0953 [email protected] Analysts employed by non- US affiliates are not registered/ Goldman Sachs (Asia) L.L.C. qualified as research analysts with FINRA in the U.S. January 13, 2015 Asia Pacific: Retail Table of contents PM Summary: A holistic view of the Asian consumer 3 China’s cohort in a regional context (a preview of India and Indonesia) 8 What they are buying and what they will buy next: Tracking 7 consumption desires 11 Seven consumption desires in focus 14 1.
  • Year Quarter DJIA 25.08% 10.33% NASDAQ 28.24% 6.27% S&P 500

    Year Quarter DJIA 25.08% 10.33% NASDAQ 28.24% 6.27% S&P 500

    Winter 2018 “May all your troubles last as long as your New Year’s resolutions.” Joey Lauren Adams What a year! If I knew any other languages I would repeat this phrase multiple times in multiple languages just for emphasis. In an Spreng Capital Management is an investment year that literally began the day after the 2016 Presidential investment advisory firm with the Securities and Exchange Commission. election, investors around the world rejoiced in exceptional gains. Founded in 1999 by James Spreng, The US markets recoiled initially at President Trump’s election and Spreng Capital has grown to then immediately began an inexorable rise over the past 14 months. encompass the very best in service and It has risen 25% since Election Day in 2016. Those obsessed with support for our clients. politics would give all of the credit to President Trump and his cutting of onerous regulations that had been imposed by his predecessor. To Our client base is quite diverse. With be fair, based upon surveys of small business owners in the US, credit clients in 25 states, we offer structured, must be given to President Trump for relieving small business owners customized investment management for individuals, profit sharing plans, from regulations that the owners felt were strangling their efforts to Foundations, endowments and grow their businesses. But that does not explain why the rest of the businesses. We are fee only investment world’s stock markets rose so substantially this year. While the United managers, receiving no commissions States stock markets enjoyed very nice returns, we lagged behind the nor do we sell any financial products.
  • The Chinese Luxury Traveller 2018 Executive Summary

    The Chinese Luxury Traveller 2018 Executive Summary

    VIEW from ILTM REPORT THE CHINESE LUXURY TRAVELLER 2018 EXECUTIVE SUMMARY Photo by Yiran Ding VIEW from ILTM REPORT FOREWORD The Hurun Research Institute and ILTM China have joined forces to release The Chinese Luxury Traveller 2018 for the eight successive year. The report is based on deep research into travel preferences and consumption among Chinese high-end travellers, and the trends expected to arise in future. The data behind the research are global high-end travel industry leader, drawn from the Chinese Luxury for the twelfth successive year, and Travel and Lifestyle Survey 2018, a that we have collaborated to release cooperative venture between Hurun the Chinese Luxury Traveller for the Report and four travel agencies, past eight years, to explore the trends namely DIADEMA, MAGIC TRAVEL, and trajectories of the high-end ZANADU and 8 Continents. travel market.” The quantitative survey encompasses ILTM China Event Manager Andy data from 236 respondents hailing Ventris added, “ILTM China has been from 43 cities nationwide, including created as a platform for the most first-tier cities such as Beijing, valuable luxury travel advisors from Shanghai, Guangzhou and Shenzhen, across China to meet with the world’s and second- and third-tier cities such very best luxury travel providers. We as Xi’an, Qingdao, Hangzhou, Nanjing, are delighted to once again partner Nanchang, Qingdao, Dalian and with Hurun Report, who are a leading Suzhou. Further details concerning voice in the conversation concerning the respondents demographic can be China’s high-net worth consumers. found in the methodology. The findings of the Chinese Luxury Traveller 2018 will continue to help Rupert Hoogewerf, Chairman & our partners and clients grow their Chief Researcher of Hurun Report, businesses in this region.” said: “Chinese high-end travellers more and more recognise the value The following report includes insights of services, and are less concerned such as the emergence of parent- about the prices compared to the child travel, the rise of holiday home past.
  • Amancio Ortega Se Convierte En El Hombre Más Rico De España

    Amancio Ortega Se Convierte En El Hombre Más Rico De España

    NIVEL B REVISTA DE LA CONSEJERÍA DE EDUCACIÓN EN REINO UNIDO E IRLANDA enero 2013 Autor: Ramón Porto Prado Profesor de Bullers Wood School, Londres NIPO: 030-13-043-X Amancio ortega se convierte en el hombre más rico de Europa Dos de los establecimientos de la empresa de A. ortega Foto: r. Porto La revista Forbes ha situado a ortega como el tercer hombre más rico del planeta. TEXTO En un momento en el que España sufre una de Parece sorprendente que en medio de una crisis las mayores crisis económicas desde la guerra civil, tan dura como la actual, sus acciones en bolsa se el español Amancio Ortega, dueño de la cadena hayan disparado un 43% desde que comenzaron de tiendas de moda Zara, se convierte en la pri- a cotizarse en 2012 y sus beneficios en el primer mera fortuna europea, estimada en 38.000 millones trimestre del año sean un 30% superiores a los del de euros, por delante del sueco Ingvar Kamprad, mismo periodo del año pasado, lo que supone un dueño de la cadena de tiendas de muebles y com- resultado récord. plementos para el hogar Ikea y del francés Bernard Este ascenso meteórico se debe a un conjunto Arnault, propietario de la firma de artículos de lujo de estrategias de mercado exitosas. No cabe duda Louis Vuiton Moët Hennessy. alguna que los mercados emergentes de Asia y es- La revista Forbes, publicación americana espe- pecialmente de China son en gran medida la causa cializada en el mundo de los negocios, edita cada de este éxito imparable.
  • NOVAGOLD Q3 2020 Results and Project Update

    NOVAGOLD Q3 2020 Results and Project Update

    2020 Third Quarter Results & Project Update TSX, NYSE American: NG | novagold.com | October 1, 2020 Third Quarter 2020 Webcast and Conference Call Attendees Introduction Mélanie Hennessey (Vice President, Corporate Communications) Third-Quarter Update Greg Lang (President & Chief Executive Officer) Third-Quarter Financials Update David Ottewell (Vice President & Chief Financial Officer) Corporate Update & Gold Market Commentary Dr. Thomas Kaplan (Chairman) Closing Remarks Greg Lang (President & Chief Executive Officer) Question & Answer Session 2 Cautionary Statements REGARDING FORWARD-LOOKING STATEMENTS This presentation includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the permitting, potential development, exploration, construction and operation of Donlin Gold and statements relating to NOVAGOLD’s future operating and financial performance and production estimates are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, “poised”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, “would” or “should” occur or be