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OpenAI Academy to Support AI Development in Low and Middle-Income Countries with $1 Million in API Credits

OpenAI has launched a new initiative called OpenAI Academy, aimed at empowering developers from low and middle-income countries by awarding $1 million in API credits. The program seeks to ensure that the transformative potential of artificial intelligence is shared across underserved communities worldwide, according to the company’s announcement.

The blog post highlights that while many countries boast fast-growing tech sectors with skilled developers and innovative organizations, access to advanced training and technical resources remains a significant hurdle. OpenAI sees investing in local AI talent as a way to make a transformative impact across various industries in these regions.

In addition to the API credit grants, OpenAI has committed to hosting incubators and competitions in collaboration with philanthropists to provide investment opportunities for organizations in these communities. This initiative is part of a broader effort to foster technological innovation in disadvantaged areas.

To further support non-English speaking communities, OpenAI has funded the translation of the Massive Multitask Language Understanding (MMLU) benchmark into 14 languages, including Arabic, Bengali, and Swahili. This translation effort aims to extend the benefits of AI technology to a wider range of linguistic groups, making advanced AI tools more accessible globally.

 

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CEOWORLD magazineLatestBanking and FinanceOpenAI Academy to Support AI Development in Low and Middle-Income Countries with $1 Million in API Credits


Jeff Bezos’ Net Worth Reaches New Heights with an Increase of $7 Billion as Amazon Stock Soars

Jeff Bezos’ net worth reached a new peak of $228 billion on Wednesday, an increase of $7 billion from his previous record of $221 billion, which he initially achieved in July and matched again on Tuesday.

Amazon’s stock, bolstered by a strong earnings report the prior week, surged further after Tuesday’s election results, closing at a record share price of $207.09 on Wednesday. This surge also propelled the Nasdaq 100 index, where Amazon is listed, to an all-time high.

The majority of Bezos’ wealth remains tied to Amazon’s stock, which has risen by over 40% this year. He owns approximately 926 million shares, equating to just under 9% of the company’s total stock.

The fortunes of the world’s five wealthiest individuals, including Bezos, climbed significantly alongside the market on Wednesday following the latest U.S. election results. Bezos remains the world’s second-richest person, behind Tesla CEO Elon Musk, whose net worth grew by $26.5 billion on Wednesday, reaching $290 billion.

Bezos refrained from endorsing a candidate during the recent presidential race and guided The Washington Post—of which he is the owner—to take a neutral stance. This unprecedented decision not to back a presidential candidate sparked a wave of resignations at the paper and led to over 250,000 canceled subscriptions.

Both Bezos and Musk held a vested interest in the election due to their private space ventures, Blue Origin and SpaceX, which rely on government contracts. Blue Origin was named a preferred provider for Pentagon contracts worth $5.6 billion in June and secured a $3.4 billion NASA contract last year.

 

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CEOWORLD magazineLatestMoney and WealthJeff Bezos’ Net Worth Reaches New Heights with an Increase of $7 Billion as Amazon Stock Soars


New Study Highlights How CEOs’ Backgrounds Shape Corporate Giving and Employee Welfare Priorities

A recent study reveals that a CEO’s socioeconomic background significantly influences their approach to corporate social responsibility (CSR) and employee welfare initiatives. CEOs who identify as coming from lower or lower-middle-class families tend to prioritize corporate giving that benefits economically disadvantaged communities, with a particular focus on educational and housing initiatives.

In contrast, CEOs who describe their backgrounds as middle, upper-middle, or upper-class also engage in CSR but tend to concentrate on employee-focused efforts. These executives are more likely to invest in enhancing retirement plans, improving union relations, and implementing policies aimed at preventing layoffs.

These insights stem from research published in Human Relations by Joanna Tochman Campbell and Jennifer Kish-Gephart, who conducted a survey of CEOs and analyzed corporate practice databases. The study suggests that these differences in CSR focus are rooted in CEOs’ formative experiences. CEOs from lower socioeconomic backgrounds, having grown up with limited resources and greater reliance on community support, often develop a heightened sensitivity to economic hardship, which later guides their corporate giving. Conversely, those from more affluent backgrounds typically have less direct exposure to economic struggles and, as a result, prioritize employee welfare for those with relatively stable incomes.

This study builds upon prior research showing that social class shapes individuals’ outlooks even as they transition into higher social or economic status. For instance, Congressional members from working-class origins tend to support more economically liberal policies compared to colleagues with white-collar backgrounds. Similarly, professionals’ upbringing impacts their perspectives on work-life balance, career advancement, and job search priorities.

Understanding how class origin influences decision-making may encourage both CEOs and employees to adopt a more comprehensive approach to corporate responsibility. The study suggests that CEOs from lower socioeconomic backgrounds might expand their focus to include employee welfare, while those from more affluent backgrounds could consider initiatives that address broader economic challenges within the community. This awareness could foster a more holistic approach to corporate social responsibility across the socioeconomic spectrum.

 

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CEOWORLD magazineLatestSpecial ReportsNew Study Highlights How CEOs’ Backgrounds Shape Corporate Giving and Employee Welfare Priorities


Thailand’s Richest Man’s Net Worth Soars to Over $16 Billion as He Surges Ahead with Energy-Telecom Merger

Sarath Ratanavadi has solidified his position as Thailand’s wealthiest individual, driven by the anticipated completion of the merger between his energy and telecom companies. His net worth has soared to over $16 billion, reflecting an increase of approximately $7 billion in just three months. This significant rise followed a 52% surge in the shares of Gulf Energy Development, Thailand’s largest power producer, pushing Sarath into the top five wealthiest figures in Asia’s energy and power sector—alongside notable names like Mukesh Ambani and Gautam Adani of India.

The planned merger of Gulf Energy and Intouch Holdings, which controls Thailand’s second-largest telecom operator, has garnered strong support from investors. The overwhelming approval from shareholders, coupled with a subsequent rise in equity values, reflects investor confidence in Sarath’s leadership. Over the years, he has expanded his domestic empire by acquiring power plants in Europe and the U.S. and branching out into sectors such as deep-sea ports, cryptocurrency, and data centers.

Jitra Amornthum, an analyst at Finansia Syrus Securities, observed that some investors view Gulf Energy as a company with revitalized growth potential, benefiting from both robust cash flows and promising new ventures. However, she cautioned that the recent surge in the stock price might reflect overly optimistic expectations.

In July, Sarath surpassed beverage and property magnate Charoen Sirivadhanabhakdi, whose net worth is $13.4 billion, to become the richest person in Thailand. The proposed merger between Gulf Energy and Intouch was announced on July 16, further boosting investor enthusiasm.

The utility company Sarath founded, where he holds a nearly 75% stake, has become the second-best performing energy firm globally over the past three months among companies valued at over $1 billion. The combined market value of Gulf Energy and Intouch is projected to reach 1.1 trillion baht ($43.1 billion) once the merger is finalized in early 2025. This would position the merged entity as Thailand’s second-largest company, behind only Delta Electronics (Thailand), surpassing state-owned energy giant PTT and Airports of Thailand.

Both Gulf Energy and Intouch shares hit record highs after Sarath advanced stock-buying offers from dissenting shareholders to speed up the merger process. Although he had initially resisted buying out minority shareholders opposed to the merger, overwhelming support from shareholders of both companies last week cleared a key hurdle for the merger to move forward.

 

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CEOWORLD magazineLatestSuccess and LeadershipThailand’s Richest Man’s Net Worth Soars to Over $16 Billion as He Surges Ahead with Energy-Telecom Merger


Seafrigo Group Appoints New CEO, Sets Sights on Global Expansion

Seafrigo Group, a leading player in cool-chain food logistics, has announced the appointment of Bruno Plantaz as its new Group Chief Executive Officer. Company founder Eric Barbé, who will now serve as President, is set to collaborate with Plantaz as they execute the company’s ambitious global growth agenda.

Bringing over 20 years of international experience in freight forwarding and contract logistics, Plantaz has held senior roles across Europe, the Middle East, and Asia with CEVA Logistics and Kuehne & Nagel. In his new position, he will guide Seafrigo’s global operations and shape its organizational structure to support long-term expansion.

Plantaz described Seafrigo as a “sparkling diamond” poised for growth. He emphasized the company’s unique customer focus and entrepreneurial drive and expressed enthusiasm about working alongside Barbé, whose exceptional business development expertise he noted with appreciation. Plantaz underscored plans to expand Seafrigo’s services to new regions, with a specific aim of broadening the company’s reach across multiple continents.

The groundwork has already been laid for Seafrigo’s impending international expansion, with plans to extend its refrigerated services to new markets across Europe, the Americas, the Middle East, and Asia. Several strategic announcements are anticipated in the coming months.

Operating from its new global headquarters in Le Havre, France, Seafrigo Group has established a worldwide network within the refrigerated logistics sector. With infrastructure across 32 countries, the company’s 2,500 dedicated employees manage the international transport of goods across five continents.

 

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CEOWORLD magazineLatestBanking and FinanceSeafrigo Group Appoints New CEO, Sets Sights on Global Expansion


Stepping into Global Waters: Ionpolis Eyes Southeast Asia at K-Expo

Ionpolis Co., Ltd., a leading innovator in filter showerhead technology, is set to participate in the K-Expo from November 14th to 17th at the Sheraton Grand Gandaria City Hotel in Jakarta, Indonesia. This event, designed to spotlight exceptional Korean products and technology, serves as a springboard for Korean companies aiming to penetrate international markets, particularly within Southeast Asia.

Ionpolis plans to use this platform to accelerate its expansion into the Southeast Asian market. The company’s CEO, Hwang Kyu-jin, noted that consumer interest in health-conscious water solutions is rising across Southeast Asia, including Indonesia, creating promising demand for Ionpolis’s advanced filter showerheads. He highlighted the event’s role in showcasing Ionpolis’s technology on a global stage and in building connections with key regional partners.

Among the products on display will be Ionpolis’s newest filter showerheads, tailored to meet diverse customer needs and designed to effectively remove impurities from tap water. Hwang Kyu-jin underscored the technology’s environmental benefits and cutting-edge features, which he believes strengthen Ionpolis’s competitiveness in the global market.

With an established reputation in South Korea, Ionpolis now aims to expand its influence abroad. According to Hwang, the company intends to leverage its technological foundation and domestic customer trust to achieve a significant breakthrough in Southeast Asia. He added that, at this expo, the team will focus on forming strategic partnerships with local buyers and adapting their product offerings to suit the Indonesian market’s preferences and needs.

CEO Hwang considers the K-Expo a pivotal moment for advancing Ionpolis’s international presence, particularly across Southeast Asia. He expressed confidence that the region’s potential aligns well with Ionpolis’s products and that local consumers will embrace their value.

K-Expo, an international trade event known for its showcase of innovative Korean products, annually attracts numerous global buyers. Through its participation, Ionpolis aims to not only highlight its filter showerhead lineup but also lay the foundation for its emergence as a recognized global brand.

Reflecting on this opportunity, Hwang noted that the event provides an essential step toward achieving Ionpolis’s vision in the international market. He reaffirmed the company’s commitment to innovation and quality improvement, aiming to establish Ionpolis as a trusted name worldwide. With its global strategy and the CEO’s direction, Ionpolis looks forward to advancing its position in the expanding filter showerhead industry.

 

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CEOWORLD magazineLatestBanking and FinanceStepping into Global Waters: Ionpolis Eyes Southeast Asia at K-Expo


PwC’s Latest Report Highlights Resilience and Future Opportunities in ASEAN FinTech

PwC has released its report titled FinTech in ASEAN 2024: A Decade of Innovation, which reviews the transformative changes in global FinTech over the past decade, noting its impact on financial services and its role in advancing digital inclusion worldwide. The report acknowledges, however, that the sector still faces significant challenges, as recent geopolitical tensions and economic pressures have led to a decline in funding.

While ASEAN FinTech funding is expected to fall for a third consecutive year, PwC’s analysis indicates emerging signs of resilience in the region. The report reflects on key developments over the last decade and identifies potential catalysts that could drive the next phase of FinTech growth in ASEAN.

Despite a global reduction in FinTech funding, PwC observed that ASEAN has shown relative stability. According to the report, funding across the ASEAN-6 countries (Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam) declined by less than 1% year-on-year in the first three quarters of 2024, totaling approximately US$1.4 billion. This minimal decline stands in stark contrast to North America and Europe, where FinTech funding dropped by over 35%, highlighting ASEAN’s adaptability and resilience amid global challenges.

PwC’s report further notes that over the past decade, the ASEAN FinTech sector has evolved from a source of disruptive innovation to an integral part of the financial services ecosystem. As the sector matures, the focus is increasingly shifting toward emerging technologies that could drive future growth.

The report identifies three technologies—generative AI, quantum computing, and blockchain—as likely catalysts for transformation, each with the potential to redefine the development, delivery, and experience of financial services in ASEAN.

 

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CEOWORLD magazineLatestTech and InnovationPwC’s Latest Report Highlights Resilience and Future Opportunities in ASEAN FinTech


Global Leaders Convene at COP16 to Address Nature Crisis and Biodiversity Goals

Environmental leaders from nearly 200 countries have gathered in Colombia to review the progress on global commitments to halt and reverse nature loss. The two-week United Nations Biodiversity Conference (COP16), which began on Monday, follows the 2022 Montreal meetings, where 196 countries signed the ambitious Kunming-Montreal Global Biodiversity Framework aimed at protecting global biodiversity.

Delegates in Cali are set to discuss how to tackle the current rapid rate of nature’s destruction and how to meet the commitments of the 2022 accord. These include setting aside 30% of national territories for conservation, cutting subsidies for businesses that harm the environment, and requiring companies to report their environmental impacts.

Countries were expected to submit their National Biodiversity Strategies and Action Plans (NBSAPs) ahead of the summit, which runs until November 1. However, by Friday, only 31 out of 195 countries had filed their plans with the UN Biodiversity Secretariat.

Colombia’s Environment Minister and COP16 President, Susana Muhamad, remarked on Sunday that the conference was an opportunity to gather knowledge from all civilizations and cultures to create livable and stable conditions for future societies in light of the ongoing environmental crisis.

At COP15 in 2022, wealthier nations had committed to contributing at least $20 billion annually by 2025 to assist developing countries in achieving their biodiversity targets, with this figure rising to $30 billion by 2030. According to the Organisation for Economic Co-operation and Development (OECD), $15.4 billion have been raised by 2022.

Gavin Edwards, director of the nonprofit Nature Positive, indicated to Reuters that COP16 serves as a crucial moment to reinvigorate global commitments made two years ago and to correct course if the 2030 biodiversity targets are to be met. Edwards stressed that significant work remains to be done.

On Sunday, UN Secretary-General Antonio Guterres urged for substantial investments into the Global Biodiversity Framework Fund, which was established in 2022. In a video message to COP16 delegates, Guterres emphasized the need for new commitments to mobilize public and private funding sources. So far, countries have pledged about $250 million to the fund, according to monitoring agencies.

At the conference, world leaders are also looking for solutions that address both climate change and biodiversity loss simultaneously. Despite ongoing conservation efforts, the rate of environmental destruction—driven by activities like logging and overfishing—remains unchanged, while governments fall short on their biodiversity action plans, and conservation funding is still billions of dollars short of the 2025 goal.

Muhamad, part of Colombia’s first left-wing government, highlighted in local media that one of COP16’s primary objectives is to underscore the importance of biodiversity, stressing that it is as critical as energy transition and decarbonization efforts.

The summit aims to create a global multilateral system for paying for access to digital sequence information and genetic data extracted from plants, animals, and microbes. In addition, COP16 will work toward finalizing a new program for integrating traditional knowledge into national conservation strategies and decision-making processes.

The UN Office for the Convention on Biological Diversity, which oversees the implementation of the original 1992 biodiversity pact, has called for special protections for Indigenous groups in voluntary isolation, emphasizing their essential role in protecting nature. Indigenous communities are often well-represented at biodiversity conferences but frequently leave disappointed with the final decisions.

This year, Indigenous leaders are determined to use the summit, taking place near the Amazon, to have their rights and ancestral knowledge formally recognized. They hope to address years of marginalization and forced displacement. Andrew Miller, advocacy director at Amazon Watch, noted that Indigenous peoples play a key role in conservation, and the hope is that this will be acknowledged more effectively at COP16.

In Bogotá, Indigenous communities from the region have been preparing for the conference for months. Jose Mendez, secretary of the National Organization of Indigenous Peoples of the Colombian Amazon, expressed that the summit represents a significant opportunity to demonstrate to the world the vital role Indigenous peoples play in safeguarding the environment.

 

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CEOWORLD magazineLatestSpecial ReportsGlobal Leaders Convene at COP16 to Address Nature Crisis and Biodiversity Goals


Societe Generale’s CEO Reshuffles Top Management in Pursuit of Renewed Growth

In a sweeping move aimed at reinvigorating his ambitious turnaround strategy, Societe Generale’s Chief Executive Officer Slawomir Krupa has restructured the executive leadership. The significant shift sees long-standing executives Deputy CEO Philippe Aymerich, CFO Claire Dumas, and French retail banking head Marie-Christine Ducholet stepping down, as confirmed by the bank in a recent statement.

Following these departures, Pierre Palmieri will remain as the sole deputy CEO. Leopoldo Alvear, currently with Banco de Sabadell SA, is set to assume the role of CFO on January 7. This reshuffle marks Krupa’s second major management overhaul since his appointment as CEO over a year ago and comes on the heels of the bank’s stronger-than-expected third-quarter results. Notably, the French retail banking division has shown signs of recovery after a challenging period marked by costly interest rate hedging missteps.

Krupa will now directly oversee French retail operations, with Bertrand Cozzarolo and Thierry Le Marre sharing responsibilities for the unit previously managed by Ducholet. Dumas will stay on through January to ensure an orderly transition.

Since taking the helm, Krupa has pursued a cautious strategy, tempering revenue and profitability targets while prioritizing capital strength. This included lowering shareholder payout expectations to bolster financial resilience and operational efficiency. Early challenges, particularly from the French retail sector’s hedging issues, are expected to have cost the bank around €1.6 billion in revenue last year and continued to impact results into the first half of 2023.

Societe Generale’s shares have rallied 18% since August, suggesting a possible turnaround for the bank’s French operations. Yet, the stock remains approximately 10% lower than when Krupa announced his strategy, leaving it among the underperformers in Europe’s banking sector index.

 

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CEOWORLD magazineLatestBanking and FinanceSociete Generale’s CEO Reshuffles Top Management in Pursuit of Renewed Growth


10-Year-Old Nastya Radzinskaya Among YouTube’s Highest-Earning Stars of 2024

Nastya Radzinskaya, a 10-year-old from Krasnodar, has once again secured a place among the world’s top 10 highest-earning YouTube bloggers in 2024. This young internet sensation achieved the seventh position on the list, with her annual income estimated at approximately $28 million. Her channel, Like Nastya, has amassed an impressive 121 million subscribers, drawing in tens of millions of views per video. Through her content, which captures daily life, offers practical advice, and promotes safety tips, Nastya has built a devoted global audience.
The list of top YouTube earners is led by MrBeast, who claimed the first position with an income of $85 million. Following closely are Dhar Mann, a film producer, and boxer Jake Paul, both of whom reported earnings of $45 million each this year.

Nastya’s journey began in Krasnodar, though her family relocated to the United States in 2018. Diagnosed with cerebral palsy at birth, her work on YouTube initially served as a therapeutic method to improve her interaction with the world around her.

Nastya first entered the rankings of the world’s wealthiest YouTubers in 2020, debuting in seventh place with an estimated $18.5 million in earnings. Her income reached the $28 million mark again in 2022, solidifying her status among YouTube’s top earners.

 

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CEOWORLD magazineLatestLifestyle and Travel10-Year-Old Nastya Radzinskaya Among YouTube’s Highest-Earning Stars of 2024