Category: Trucking News

Tim Cook Hits Billionaire Status With Apple Nearing $2 Trillion

(Bloomberg) -- Nine years after Steve Jobs stepped down and thrust Tim Cook to the top of Apple Inc., the company is more valuable than ever -- and so is Cook.Apple’s share price rose almost 5% last week, leaving the company Jobs co-founded 44 years ago in his parents’ California home on the cusp of stock-market milestone: a market value of nearly $2 trillion.It was valued at about $350 billion when Jobs died. Cook, meantime, has joined one of the most elite clubs for CEOs who didn’t actually found the companies they run: his net worth has eclipsed $1 billion, according to calculations by the Bloomberg Billionaires Index.Cook’s net worth estimate is based on an analysis of regulatory filings and applying the market performance of a typical wealthy investor to his proceeds from share sales. Cook, 59, said in 2015 that he plans to give most of his fortune away and...

How Singapore Nurtured Foreign Trio Who Became Billionaires

(Bloomberg) -- David Chen left his native China as a teenager to attend school in Singapore. Little did he know that his adopted city would help him reach the ranks of the ultra-rich.The co-founder of Sea Ltd. is now worth $1.3 billion, joining fellow co-founders Forrest Li and Gang Ye among Singapore’s wealthiest individuals. Their company has thrived during the pandemic thanks to the popularity of battle royale mobile game Free Fire and e-commerce platform Shopee.By far the city-state’s biggest company by market value, Sea didn’t happen by accident. It’s the result of the island’s approach to lure foreign talent at a young age to a market with easy access to capital. Chen and Ye both moved with scholarships for their studies, while Li, who was born and raised in China’s port city of Tianjin, followed his wife to Singapore after finishing an MBA at Stanford University.“Attracting the right foreign talent...

Tough-to-Impress Harvard Grad Molds Fortunes of China’s Richest

(Bloomberg) -- In a market where billions slosh around in search of the next big thing, Tony Zhang’s decade of wagering on Chinese startups has made him cautious.That’s how he approached his first meeting with Neo Wang, the 30-year-old who channeled his personal struggle with weight into Chinese fitness and workout sensation Keep. With 40 million monthly subscribers on his app and the backing of Tencent Holdings Ltd. and Goldman Sachs Group Inc., Wang had grown accustomed to fawning investors, but Zhang proved hard to impress.He grilled Wang for hours on Keep’s growth and on the units he’d cut in a downturn, drawing from consumer surveys he’d commissioned to poke holes in the pitch.“I’d just never met an investor like Tony before. He kept challenging me like he was running a stress test,” said Wang, who was struck by how thoroughly Zhang had prepared. “I felt both vexed and stimulated.”After eight...

The Billionaire Trio That Made It Big With Hit Game Free Fire

(Bloomberg) -- David Chen left his native China as a teenager to attend school in Singapore. Little did he know that his adopted city would help him reach the ranks of the ultra-rich.The co-founder of Sea Ltd. is now worth $1.3 billion, joining fellow co-founders Forrest Li and Gang Ye among Singapore’s wealthiest individuals. Their company has thrived during the pandemic thanks to the popularity of battle royale mobile game Free Fire and e-commerce platform Shopee.By far the city-state’s biggest company by market value, Sea didn’t happen by accident. It’s the result of the island’s approach to lure foreign talent at a young age to a market with easy access to capital. Chen and Ye both moved with scholarships for their studies, while Li, who was born and raised in China’s port city of Tianjin, followed his wife to Singapore after finishing an MBA at Stanford University.“Attracting the right foreign talent...