Finance and Technology

Loading

All posts by admin

Money and Wealth

Trailblazing Chinese-American Entrepreneur Rises to Billionaire Status with Deel’s Global Success

Wang Shuo, a 35-year-old Chinese-born entrepreneur, has rapidly become one of the youngest and wealthiest individuals in China, boasting a net worth of approximately US$1.2 billion. Her financial ascent captured widespread attention following the publication of the Mainland Rich List on October 29.

Wang has also made her mark in the United States, earning a spot on the 2024 list of America’s Richest Self-Made Women. Ranked 39th with an estimated net worth of US$850 million, she shares this position with music icon Madonna. Notably, Wang stands out as one of the youngest women on this list, where most others are over 60.

Originally from Shenyang in Liaoning province, Wang moved to Baltimore, Maryland, with her mother at 16. While studying, she helped her mother by selling scooters at a local flea market each weekend. Her enthusiasm and warm personality attracted customers, giving her early exposure to sales despite language challenges. Wang later reflected on this experience as her first introduction to entrepreneurship, explaining how she quickly realized the value of offering a distinctive product amidst the typical fare.

Excelling academically, Wang was later admitted to the Massachusetts Institute of Technology (MIT), where she pursued a degree in mechanical engineering with a specialization in robotics, eventually progressing to a master’s program. It was here that she met Alex Bouaziz, a future friend and business partner.

In 2015, Wang made the bold decision to leave her graduate studies to co-found Aeris Cleantec AG, a company focused on air purifiers, where she served as Chief Technology Officer. She relocated to Beijing to oversee the design and manufacturing processes, eventually scaling the business internationally. This venture brought Wang her first major success when iRobot acquired Aeris for approximately US$100 million in 2021.

In 2019, Wang co-founded Deel, a human resources service provider, with Bouaziz and Ofer Simon. Deel aimed to streamline hiring, payroll, and immigration services for companies with remote teams. Wang recognized the growing shift toward remote work during the pandemic and shared her vision with Bouaziz, who was in the UK. This insight allowed them to launch Deel quickly, positioning it to capitalize on the remote work trend.

Known for her tireless dedication, Wang often maintains a demanding schedule, working from 8:30 a.m. to 11 p.m., with only a brief workout before dinner. She took a hands-on approach to shaping Deel’s culture, personally interviewing the first 400 employees to foster a cohesive corporate environment. In a later speech, she spoke about her strong drive and pursuit of perfection.

As of March this year, Deel’s revenue had exceeded US$500 million, with the company last raising funds at a US$12 billion valuation in 2021. This rapid success has positioned Wang as a prominent figure in global entrepreneurship, with Deel’s success solidifying her reputation as an emerging business leader.

 

Have you read?
The Top 100 Highest-paid CEOs in America.
Countries With Lowest Rate of Economic Growth in 5 Years.
Countries Most in Debt to China.
Most Attractive Cities for Global Talent.
Largest economies in the world by Share of Global GDP.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Success and Leadership – Trailblazing Chinese-American Entrepreneur Rises to Billionaire Status with Deel’s Global Success

Special Reports

ECA Concludes Policy Dialogue on Strengthening SMEs in North Africa

The Office for North Africa of the Economic Commission for Africa (ECA) recently concluded a two-day high-level policy dialogue in Rabat, Morocco, focused on strengthening small and medium enterprises (SMEs) across the region. The event marked the culmination of a two-year initiative led by the ECA Office for North Africa, which included a series of workshops designed to support women-led enterprises in Libya, Mauritania, Morocco, and Sudan. These workshops addressed critical issues such as access to finance, market dynamics, digitalization, and climate-related challenges.

Adam Elhiraika, Director of the ECA Office for North Africa, highlighted the significance of the discussions in creating a supportive environment for SMEs. He noted that the dialogue explored how policy measures could enable SMEs to play a greater role in North Africa’s economic transformation by enhancing resilience, improving access to finance, fostering sustainable growth, and leveraging opportunities provided by the African Continental Free Trade Area (AfCFTA).

The event brought together senior officials from Libya, Mauritania, and Morocco, who collaborated to identify strategies aimed at strengthening the resilience of North African SMEs in the face of economic and climate challenges. Key topics included the role of SMEs in promoting economic diversification and gender inclusivity, innovative financing solutions, climate adaptation strategies, and addressing policy barriers that impact productivity, innovation, and integration into global value chains.

Riad Mezzour, Morocco’s Minister of Industry and Trade, emphasized the essential role of SMEs in the economy, stating that they form the backbone of Morocco’s economic structure. He acknowledged that approximately 50% of SMEs survive their first five years, describing this as a positive indicator. Mezzour also discussed Morocco’s policies aimed at supporting SMEs, such as improving access to public markets, streamlining certification processes, providing favorable payment terms, and promoting environmental sustainability within the sector.

The discussions underscored the untapped potential of women-led enterprises in North Africa to drive economic growth, diversification, job creation, and inclusive development. However, numerous challenges remain, particularly regarding access to finance, property, markets, and business networks. These barriers often confine women-led businesses to smaller markets and the informal sector, limiting their opportunities for growth and trade.

During the dialogue, Eric Falt, Director of the UNESCO office for the Maghreb, highlighted the gender disparity in leadership within SMEs. He pointed out that while SMEs in Morocco account for 86% of formal employment, women lead only 15.3% of newly established enterprises, with just over 12% holding leadership positions.

The ECA, established in 1958 by the United Nations Economic and Social Council (ECOSOC), is one of the UN’s five regional commissions. Its mission is to promote economic and social development among its member states, encourage intra-regional integration, and strengthen international cooperation for Africa’s overall development.

 

Have you read?
World’s Best Countries To Invest In Or Do Business.
World’s Most Startup-Friendly Countries.
World’s Best Countries For Quality of Life.
Largest Economies Europe In 2024.
GDP of the BRICS countries (2000 to 2028).

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Special Reports – ECA Concludes Policy Dialogue on Strengthening SMEs in North Africa

Special Reports

NDB’s Role in Driving Growth and Sustainability in Emerging Markets

The New Development Bank (NDB) is set to intensify its support for economic development in emerging economies while tackling critical challenges like climate change, according to its president, Dilma Rousseff. She emphasized that the bank’s growing membership will further enhance its capacity to foster progress.

Rousseff, speaking after receiving China’s prestigious Friendship Medal in September, highlighted the NDB’s commitment to helping emerging nations achieve steady growth and mitigate crises. She pointed out that the bank’s focus includes infrastructure development in areas such as logistics, education, healthcare, and digital services.

The NDB has made substantial headway in financing key infrastructure projects among its member states. To date, it has approved $35 billion in loans across 105 projects, including the Mumbai Urban Transport Project-III in India, the Serra da Palmeira Wind Power Project in Brazil, and the Jiangxi Urban and Rural Cold Chain Logistics Project in China, as reported by Xinhua News Agency.

In August, the NDB reached a $280 million loan agreement with South Africa’s freight transport giant Transnet, aimed at upgrading the country’s rail infrastructure. The same month, the bank approved a $1 billion loan to support South Africa’s water and sanitation systems and another $150 million loan for China’s acquisition of liquefied natural gas carriers through the Bank of Communications Financial Leasing.

In January, India secured three loan agreements from the NDB totaling $700 million, aimed at boosting transportation, water, and sanitation infrastructure across the country.

Rousseff underscored the limited resources that developing nations have in combating climate change, emphasizing the need for further development of renewable energy sources. She commended China’s leadership in the electric vehicle industry and expressed hope for continued progress in energy storage and renewable energy supply.

As outlined in its 2022-2026 strategy, the NDB has earmarked 40% of its $30 billion financing plan for green initiatives, with climate change mitigation as a central focus. Earlier this year, the NDB issued panda bonds worth 6 billion yuan ($840 million), followed by another 8 billion yuan bond in July, both part of its efforts to fund infrastructure and sustainable projects that align with the United Nations’ Sustainable Development Goals.

Launched in 2014 by Brazil, Russia, India, China, and South Africa, the NDB began operations in July 2015, with its headquarters in Shanghai. Since 2021, the bank has expanded its membership to include Bangladesh, Egypt, the United Arab Emirates, and Uruguay.

Rousseff highlighted China’s developmental model as an example for the Global South, noting that the country’s advances in infrastructure, technology, and the economy have demonstrated resilience against obstacles like sanctions. She praised China’s achievements over the past 75 years, particularly its role in leading innovation, fostering globalization, and emphasizing scientific and technological advancements.

The deepening partnership between China and Brazil was cited as an example of how cooperation among Global South nations can boost economic growth and improve quality of life. Rousseff pointed to the Belt and Road Initiative, under which China and Brazil have strengthened their collaboration in trade and technology. Brazil has also become a key player in ensuring China’s food security, serving as its largest food supplier in recent years.

Rousseff also acknowledged the significance of Chinese investment in Brazil, noting that it plays a vital role in the country’s reindustrialization. Among the major highlights of Chinese investment is the China National Offshore Oil Corporation’s collaboration with Petrobras, Brazil’s leading oil and gas company, in the Pelotas Basin for oil exploration.

China’s investments have particularly benefited less-developed regions in Brazil by addressing energy shortages through the construction of high-voltage direct transmission lines, she added.

As China’s largest trading partner since 2009, Brazil has also attracted considerable Chinese investment. In 2023, the trade volume between the two countries reached $181.53 billion, further solidifying their economic ties.

 

Have you read?
Countries: Powerful Passports.
Countries: Richest.
Countries: Poorest.
Countries: Happiest.
Countries: Life Expectancy.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Special Reports – NDB’s Role in Driving Growth and Sustainability in Emerging Markets

Banking and Finance

Airbus Board Prepares for Leadership Continuity and Strategic Transition

The Board of Directors of Airbus SE has announced plans to propose the renewal of Guillaume Faury’s role as Executive Board member and Chief Executive Officer at the 2025 Annual General Meeting.

Alongside this proposal, Airbus revealed an upcoming leadership transition in its Commercial Aircraft division. Lars Wagner, currently CEO of Munich-based MTU Aero Engines AG, will join the Airbus Executive Committee after concluding his tenure at MTU. Wagner has been designated as the successor to Christian Scherer, who currently serves as CEO of the Commercial Aircraft business.

Airbus CEO Guillaume Faury expressed enthusiasm for Wagner’s appointment, describing him as an outstanding industry leader returning to the Airbus family. Faury stated that Scherer would continue leading the Commercial Aircraft division until Wagner’s transition is complete, emphasizing that he and Scherer will maintain close collaboration to support Airbus’s objectives within a highly dynamic industry.

Christian Scherer also welcomed the transition, noting that he remains dedicated to the success of Airbus following his four-decade career with the company. He conveyed his strong support for Wagner’s nomination, stating that Wagner, a trusted colleague, is the ideal choice to lead the division. Scherer looks forward to working closely with Wagner as the transition progresses.

 

Have you read?
Countries Most in Debt to the International Monetary Fund (IMF).
Most Successful Unicorn Startups.
$100 Billion Club: Richest People With The 12-Figure Fortunes.
Largest electricity consumers in the world, by country (in terawatt-hours).
Countries that Export the Most Goods and Services.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Banking and Finance – Airbus Board Prepares for Leadership Continuity and Strategic Transition

Special Reports

Revealed: Countries with the Highest Age Dependency Ratio in the World, 2025

The Age Dependency Ratio is an important economic indicator that represents the balance between the economically dependent population (ages 0–15 and 65+) and the economically active population (ages 15–64).  This ratio, whether expressed as a numerical figure or a percentage, is calculated by dividing the number of dependents by the number of producers and then multiplying the result by 100. For example, if a fictional state has 200 producers and 70 dependents, the dependency ratio would be calculated as (70/200) * 100, resulting in a ratio of 35% or 35.

The age dependency ratio is critically important for governments, banks, universities, and other large organizations. It provides insights that go far beyond basic numerical data. It is an essential tool for accurately understanding the population profile of a specific region. This analysis directly informs key decisions, such as funding allocations for programs that support children and the elderly, evaluating future economic pressures on the population, and anticipating potential civil unrest.

The total age dependency ratio (ADR) typically includes both young and elderly dependent groups and is commonly referred to as the overall age group dependency ratio (AGEP). However, it can also be broken down further to focus specifically on the child dependency ratio or the elderly dependency ratio. Niger Tops the Charts with the Highest Age Dependency Ratio.

In the realm of global demographics, Niger has emerged as the country with the highest age dependency ratio, reaching a staggering 105.86%. This signifies a significant economic challenge, as the working-age population is burdened with supporting a substantial number of both young children and elderly citizens.

Countries with the Highest Age Dependency Ratio in the World, 2025

Rank Country Age Dependency Ratio
1 Niger 105.86%
2 Central African Republic 103.35%
3 Somalia 99.65%
4 Mali 99.05%
5 Chad 98.85%
6 DR Congo 98.65%
7 Monaco 96.65%
8 Burundi 93.95%
9 Angola 91.65%
10 South Sudan 88.54%
11 Tanzania 87.54%
12 Uganda 87.54%
13 Burkina Faso 86.83%
14 Mozambique 86.22%
15 Nigeria 86.02%
16 Afghanistan 84.32%
17 Benin 84.22%
18 Gambia 84.11%
19 Malawi 83.21%
20 Cameroon 82.11%
21 Guinea 82.11%
22 Mauritania 82.01%
23 Zambia 81.21%
24 Senegal 81.21%
25 Sudan 80.60%
26 Zimbabwe 79.10%
27 Ivory Coast 78.89%
28 Liberia 78.69%
29 Republic of the Congo 78.49%
30 Sao Tome and Principe 76.89%
31 Eritrea 76.78%
32 Vanuatu 76.48%
33 Togo 76.38%
34 Samoa 75.47%
35 Ethiopia 75.37%
36 Solomon Islands 74.77%
37 Madagascar 74.37%
38 Comoros 74.07%
39 Palestine 73.97%
40 Yemen 73.56%
41 Sierra Leone 73.46%
42 Rwanda 72.06%
43 Equatorial Guinea 71.96%
44 Japan 71.75%
45 Nauru 70.85%
46 Iraq 70.55%
47 Pakistan 69.64%
48 Kenya 69.24%
49 Ghana 68.64%
50 Tonga 68.63%
51 Namibia 67.92%
52 Gabon 67.72%
53 Israel 67.62%
54 Kiribati 67.02%
55 Tajikistan 66.62%
56 United States Virgin Islands 66.21%
57 Kyrgyzstan 64.51%
58 France 64.21%
59 Eswatini 63.71%
60 Faroe Islands 63.50%
61 Finland 63.10%
62 Lesotho 62.30%
63 Tuvalu 62.20%
64 Guam 61.60%
65 Gibraltar 61.60%
66 Sweden 61.49%
67 Egypt 61.09%
68 Kazakhstan 61.08%
69 Papua New Guinea 60.38%
70 Latvia 60.37%
71 Lebanon 60.17%
72 Guatemala 60.07%
73 Mongolia 59.47%
74 Algeria 59.37%
75 Estonia 59.27%
76 Marshall Islands 59.27%
77 Isle of Man 59.16%
78 Greece 58.56%
79 United Kingdom 58.35%
80 Haiti 58.35%
81 Denmark 58.14%
82 Italy 57.94%
83 Micronesia 57.94%
84 Croatia 57.84%
85 Germany 57.73%
86 Bulgaria 57.72%
87 Puerto Rico 57.72%
88 Belgium 57.42%
89 Turkmenistan 57.42%
90 Botswana 57.42%
91 Venezuela 57.22%
92 Syria 57.01%
93 Lithuania 57.01%
94 Portugal 56.91%
95 Slovenia 56.91%
96 Jordan 56.60%
97 Georgia 56.40%
98 Philippines 56.20%
99 Netherlands 56.10%
100 Bolivia 56.00%

*Percentages shown are computed against a base of 100. For example, Niger’s world-leading 105.86% total ADR represents a ratio of 105.86/100, which indicates that the country has nearly 105.86 dependents (children and elders) for every 100 working-age residents.

Challenges and Opportunities in High Dependency Ratio Nations: Countries like Niger, the Central African Republic, and Somalia face significant economic challenges due to having a high number of dependents compared to working-age individuals. This imbalance puts pressure on resources, which can affect social programs and economic stability and increase the risk of civil unrest. In contrast, nations with low dependency ratios, such as Qatar and the United Arab Emirates, demonstrate healthier economies with enough jobs and workers to support their dependents.

As nations face the economic implications of their demographic structures, it is crucial for policymakers, economists, and organizations to understand age dependency ratios. This data serves as a guide for addressing the needs of social programs, anticipating economic challenges, and promoting sustainable growth in an ever-evolving global environment.

Have you read?
World’s Most Innovative Countries, Best Fashion Schools. Best Universities. Best Medical Schools. Best International High Schools. Countries: Most Female Billionaires.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Special Reports – Revealed: Countries with the Highest Age Dependency Ratio in the World, 2025

Special Reports

Global Public Debt to Exceed $100 Trillion, Highlights IMF

Global public debt is projected to surpass $100 trillion this year, with the debt-to-GDP ratio expected to approach 100% by the end of the decade, surpassing the levels seen during the pandemic. This warning was delivered by Vítor Gaspar, Director of the IMF’s Fiscal Affairs Department, during a briefing in Washington.

Gaspar emphasized that public deficits and debt levels are alarmingly high, with risks continuing to rise. Presenting the IMF’s Fiscal Monitor, he outlined that one-third of countries, including major economies such as China, the United States, Brazil, France, Italy, South Africa, and the United Kingdom, are experiencing public debt growth at a faster rate than before the pandemic. These countries collectively represent around 70% of global GDP.

He further explained that in another third of countries, while public debt has increased, its growth is projected to slow or even decline compared to pre-pandemic trends. In the remaining nations, public debt levels are currently lower than they were prior to the pandemic.

The IMF report highlights that the risks surrounding public debt forecasts are tilted upwards. In a particularly adverse scenario, global public debt could rise by an additional 20 percentage points of GDP compared to the baseline forecast.

Gaspar also pointed out that the fiscal policies currently implemented by most governments are inadequate for stabilizing or reducing debt ratios. He stressed that delaying necessary adjustments would be both costly and risky, urging immediate action to address the growing fiscal challenges. He remarked that while monetary policy in major economies has already begun to ease and unemployment remains low in many countries, the time is right to implement gradual, sustained, and people-focused fiscal adjustments.

Additionally, the IMF’s projections for Ukraine indicate that by 2025, the country’s government debt will exceed 100% of its GDP for the first time, with debt levels unlikely to drop below this threshold in the near future.

 

Have you read?
Countries Most in Debt to the International Monetary Fund (IMF).
Most Successful Unicorn Startups.
$100 Billion Club: Richest People With The 12-Figure Fortunes.
Largest electricity consumers in the world, by country (in terawatt-hours).
Countries that Export the Most Goods and Services.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Special Reports – Global Public Debt to Exceed $100 Trillion, Highlights IMF

Money and Wealth

Michael Gastauer: The Youngest Self-Made Billionaire Redefining Germany’s Wealth Landscape

Germany’s wealthiest individuals are largely known, but Michael Gastauer shakes up the list. While entering the billionaire ranks is not unusual, Gastauer stands out as the youngest self-made billionaire in the country, with the potential to eclipse them all.

Unlike many of his counterparts, Gastauer didn’t inherit his fortune. He built it himself, starting as a financial executive before venturing into entrepreneurship. In 2015, he identified global challenges in digital banking and founded Black Banx, a digital banking platform aimed at dismantling the barriers of traditional finance and offering global accessibility.

What began as a disruptive fintech concept has evolved into a global digital banking powerhouse, now serving 61 million customers worldwide—an impressive leap from the 5 million it boasted six years ago. In just three years, by 2018, Black Banx had achieved a staggering valuation of $9.8 billion. Fast forward to 2024, and though the company’s private status prevents an official valuation, experts suggest it could be worth as much as major competitors like Revolut, which was valued at $45 billion in 2024.

However, Gastauer’s success is not just about user numbers or company valuation. Black Banx is expected to generate $2.9 billion in profits in 2024, with the vast majority of that profit going to Gastauer and his family, who own 99.9% of the company. This puts him in league with some of Germany’s wealthiest individuals, such as Klaus-Michael Kuehne, who is set to receive $4.5 billion in dividends this year, and Reinhold Wuerth, whose group earned $1.5 billion in profits last year. Gastauer’s payout isn’t far behind, and considering his age and Black Banx’s private status, it’s clear he’s only just begun.

Valuing a privately held company like Black Banx is no easy task, especially without recent share sales. However, given its financial performance and growth trajectory, it’s likely Black Banx could be valued similarly to public companies in its industry. A company generating $2.9 billion in annual profits could easily be worth 15 to 20 times that amount if publicly traded.

Should Gastauer decide to take Black Banx public, the valuation could skyrocket, potentially making him Germany’s richest person. Holding nearly all of the company’s shares, Gastauer would see his fortune soar. Going public is often seen as a pivotal step for tech companies, with examples like Apple, Microsoft, and Amazon reaching new heights after opening to public investment. Their founders—Jobs, Gates, and Bezos—became household names, known not just for their wealth but for reshaping industries.

For Gastauer, an initial public offering (IPO) could offer similar opportunities, catapulting Black Banx and its founder to even greater global prominence. However, it would also mean ceding some control, a major consideration for a self-made entrepreneur. Currently, Gastauer has total control over Black Banx, something he would have to share with shareholders if the company went public. Market volatility, another factor public companies contend with, could also be avoided by staying private.

Gastauer may find maintaining control more valuable than the potential benefits of going public. His ability to build a multi-billion-dollar empire without external involvement has already proven immensely successful. Still, if he ever decides to take Black Banx public, it would not only cement his position as Germany’s wealthiest individual but also mark a shift in the country’s billionaire narrative. Unlike most of Germany’s richest, who inherited their wealth through family businesses, Gastauer represents a new generation—self-made, driven by technology and innovation.

This transformation isn’t limited to Germany. In the U.S., many of the wealthiest individuals, such as Elon Musk, Jeff Bezos, and Mark Zuckerberg, are also self-made entrepreneurs who reshaped their industries through innovation. Gastauer’s rise could signal a similar shift in Germany, where entrepreneurship and technological advancement might begin to eclipse old-money wealth.

Regardless of the path he chooses, Gastauer has already left an indelible mark on the financial world. Whether he keeps Black Banx private or opts to go public, his legacy is poised to influence the future of entrepreneurship in Germany and beyond.

GDP (nominal) Capital Head of State Head of Government GDP (nominal) per capita GDP (PPP) GDP (PPP) GDP (PPP) per capita
Germany Berlin Frank-Walter Steinmeier Olaf Scholz 4.429.838 52.824 5.720.000 66.038

Have you read?
The Top 100 Highest-paid CEOs in America.
Countries With Lowest Rate of Economic Growth in 5 Years.
Countries Most in Debt to China.
Most Attractive Cities for Global Talent.
Largest economies in the world by Share of Global GDP.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Money and Wealth – Michael Gastauer: The Youngest Self-Made Billionaire Redefining Germany’s Wealth Landscape

Money and Wealth

Australia’s Wealthiest Woman Gina Rinehart, Expands Property Empire

Australia’s richest woman, Gina Rinehart, continues to expand her wealth, driven by a staggering property portfolio that spans from vast cattle stations to luxurious real estate. As a mining magnate with a fortune exceeding $34 billion, Rinehart has built a sprawling empire that keeps her cash flow booming.

One standout asset is her 918,000-hectare cattle station in Queensland’s remote outback, which skyrocketed in value from $14 million to an impressive $54 million. This is just one of over a dozen cattle stations under her control, cementing her agricultural empire. A key move in her expansion strategy was the acquisition of S Kidman & Co., a company historically tied to her maternal grandfather. By partnering with Shanghai CRED, she invested $386.5 million to double her cattle stations to 21, adding nearly 4 million hectares as part of a flourishing $200 million deal reported by the Weekly Times.

Even after selling off some land, such as a 550,000-hectare station in the Northern Territory, Rinehart still holds significant agricultural assets. These include a 400,000-hectare farm in Fitzroy Crossing, Western Australia, and 384,451 hectares in the Pilbara, a major mining region. In Queensland, her holdings under the S Kidman & Co banner total nearly 1.5 million hectares—larger than Australia’s capital cities—with plans for further expansion to capitalize on key port and market access.

Rinehart’s real estate ventures also extend to high-value properties across Australia. In Victoria, she acquired the 51-hectare Chrome Park, a prestigious livestock and horse-breeding farm, for $8.6 million. As the pandemic neared its end in 2022, she invested more than $76 million in four properties in a single Queensland suburb. Among these, a $9.75 million beach house, previously purchased by entrepreneur Therese Rein for $6.75 million just six months earlier, offers stunning ocean views and development approval. Situated near another Rinehart-owned property bought for $11.2 million, she continues to make high-profile acquisitions in the area, including a record-setting $21.5 million home.

Her interest in Queensland’s prime real estate doesn’t stop there. A Hancock Prospecting-affiliated company spent $34 million on one of the state’s most expensive homes, highlighting Rinehart’s ongoing commitment to expanding her prestigious property portfolio.

 

Have you read?
Best Fashion Schools.
Best Universities.
Best Medical Schools.
Best International High Schools.
Countries: Most Female Billionaires.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Lifestyle and Travel – Australia’s Wealthiest Woman Gina Rinehart, Expands Property Empire

Banking and Finance

Leadership Transition at TIH: Dave Obenauer to Become CEO in 2025

US insurance brokerage TIH has announced that Dave Obenauer, its current President, will assume the role of Chief Executive Officer effective January 1, 2025, as current CEO John Howard transitions to Vice Chair. With over 35 years in the insurance industry and tenure at TIH dating back to 2007, Obenauer brings extensive experience to his new position.

In discussing the transition, Howard expressed full confidence in Obenauer, highlighting his industry expertise and their longstanding professional relationship. He emphasized Obenauer’s qualities as a trusted partner and leader as he prepares to guide the company’s future.

As President, Obenauer has been instrumental in driving TIH’s growth, focusing on strategic planning, effective execution, teamwork, and continuous improvement. Upon becoming Vice Chair, Howard will maintain his role on TIH’s Board of Managers, remain an investor, and continue supporting the company’s growth trajectory. He will also stay active on various industry boards and committees.

Obenauer, expressing enthusiasm for his new role, remarked that he was honored to follow in Howard’s footsteps. He looks forward to advancing the company’s insurance-focused strategy, which has been in place since TIH achieved full independence in May. Obenauer holds an MBA from Wharton and graduated with honors from Wake Forest University; he will continue to work from TIH’s Charlotte headquarters.

Dan Glaser, Chair of the TIH Board, recognized Howard’s accomplishments, noting his transformative leadership over two decades and his lasting contributions to the insurance industry. Glaser also expressed confidence in Obenauer’s leadership, emphasizing that TIH, fueled by its independence, has significant opportunities ahead to continue delivering exceptional results for clients.

 

Have you read?
Impact of Titles on Your Executive Career – Negotiating Job Titles and more!
5 Reasons being dog friendly is very good for business.
Do you want to change things in your organization? Perhaps it begins with changing how you think.
Mastering Leadership- How Clear Expectations Drive Success.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Banking and Finance – Leadership Transition at TIH: Dave Obenauer to Become CEO in 2025

Banking and Finance

Domino’s Longtime CEO Don Meij to Step Down, Mark van Dyck Named Successor

Domino’s Pizza Enterprises has announced the upcoming retirement of its long-serving CEO and managing director, Don Meij, effective November 6. After a nearly four-decade career with the company—22 years of which he held the CEO position—Meij plans to continue collaborating with the board and his successor, Mark van Dyck, over the next year to ensure a smooth transition.

Despite its global presence in Australia, Asia, and Europe, Domino’s reported a 1.2% decline in same-store sales for the first 17 weeks of the fiscal year, with Germany, France, and Japan contributing to the drop. Reflecting on his decision, Meij commented that while stepping down was difficult, he felt it was the right moment for a leadership change to propel the company’s future growth.

The company stated that van Dyck was selected following a global search. Most recently the Asia-Pacific leader at Compass Group, van Dyck also has extensive executive experience with Coca-Cola and serves as chair of the Food and Agriculture Taskforce. Domino’s chair, Jack Cowin, remarked that under Meij’s guidance, the company transformed from a Brisbane-based business into a leading global brand, achieving market dominance in each region where it has operated for over three years in Europe and the Asia-Pacific.

 

Have you read?
Best Fashion Schools.
Best Universities.
Best Medical Schools.
Best International High Schools.
Countries: Most Female Billionaires.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz

CEOWORLD magazine – Latest – Banking and Finance – Domino’s Longtime CEO Don Meij to Step Down, Mark van Dyck Named Successor