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The latest news on Billionaires from Business Insider

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    Penny Pritzker

    The Washington Post reports that Penny Pritzker, the 255th wealthiest American, is in the running to be President Barack Obama's next Commerce Secretary — and may have already topped the list.

    Pritzker, the CEO of PSP Capital Partners and Pritzker Realty Group, is estimated to have a net worth in excess of $1.8 billion, accumulated in part through her inheritance.

    To many, this pick may reek of patronage– Pritzker was national co-chair of Obama for America 2012 and bundled at least $500,000 for the President’s re-election campaign.

    CNN notes that Pritzker was also a leading candidate for the position back in 2008, but took herself out of the running because of fears she wouldn’t be confirmed due to her past business dealings.

    Superior Bank, in which her uncle held a majority stake and she served as chairman until 1994, failed in 2001 after the bank’s holdings of subprime mortgages exploded. The bank was ultimately taken over by the FDIC.

    Pritzker would replace acting Secretary Rebecca Blank, who stepped in to fill the position after John Bryson resigned from the post following a series of hit-and-runs.

    This Pritzker pick would continue the tradition of high-powered business executives, such as Bill Daley and Peter Peterson, stepping into this role.

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    lynsi torresLynsi Torres, the 30-year-old owner and president of In-N-Out Burger, is one of the youngest female billionaires on the planet, according to the Bloomberg Billionaire's Index.

    How did that happen?

    She inherited the fast food chain after a series of deaths in the family, Seth Lubove at Bloomberg News reported.

    In-N-Out was founded by her grandparents, Harry and Esther Snyder. Harry died in 1976 and one of his sons, Rich, took over. Rich died in a plane crash when he was 41, and Torres' father, Harry Guy Snyder, took over in 1993. Guy died in 1999 of a prescription drug overdose at the age of 49. Esther, Torres' grandmother, controlled In-N-Out until 2006, when she died at 86.

    That left Torres as the only heir to In-N-Out. She currently has half ownership through a trust, but will get the entire company upon turning 35.

    Torres doesn't have a college degree and is on her third marriage. Oh, and as Gawker's Hamilton Nolan noted, she's also a competitive drag racer.

    She's pretty mysterious, too. Apparently, even people in the restaurant industry don't know much about her.

    “I have no clue about her,” restaurant consultant Janet Lowder told Bloomberg. “I was even surprised there was a granddaughter.”

    We do know that she owns a $17.4 million, 16,600-square-foot mansion in Bradbury, California. It has seven bedrooms, 16 bathrooms, and a whole bunch of amenities.

    SEE ALSO: Smashburger Is Trying To Revolutionize 'Better Burgers' [PHOTOS] >

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    Eike Batista

    Flamboyant Brazilian billionaire Eike Batista made his first million from gold trading before he was 24 years old.

    And from there it was a life worthy of the silver screen — he married a Playboy model, entered speedboat contests, and made it to the top 20 of the world billionaires list.

    By 2012, he was worth $30 million and he was the 10th richest person in the world, gunning hungrily for the top spot.

    But by the end of the year, half of his wealth disappeared. According to Bloomberg's billionaires list he now ranks #89 on the list of the world's wealthiest. He could have to hand over more of his wealth

    Batista was born in Brazil in 1956 and moved to Germany when he was a teen.

    On of seven children, Eike was born in 1956 in Governador Valadares, Minas Gerais, Brazil, to a Brazilian father and German mother, he spent his childhood in the country of his birth, but moved to Germany when he was a teenager.

    In 1974, he began to study metallurgical engineering at the University of Aachen in Germany.



    He used to sell insurance door-to-door when he was in college

    His family returned to Brazil when he was 18, and he started selling insurance to make ends meet. All his friends, on the other hand, were rich.

    From the Australian Financial Review:

    "So I got highly motivated to make some extra money and I sold insurance policies from door to door. It's a great learning experience because some doors open and some don't. I had a lot of teas with old ladies."

    But by 1979, he'd dropped out of college before he could finish his degree in metallurgical engineering and returned to Brazil.

    Source: Robert the matador joins Eike the bull, Australian Financial Review, October 30, 1999 Saturday, Late Edition



    After school, he tried to export granite, marble and diamonds.

    He told the Australian Financial Review:

    "I discovered it was controlled by the Italian Mafia, so I quit that and began organizing pick and shovel miners to produce diamonds."

    The garimpeiros (shovel miners) would come to his Rio office with diamonds in little bags. Batista introduced them to Jewish dealers from Portugal and Antwerp and collected commissions on each sale.

    Source: Robert the matador joins Eike the bull, Australian Financial Review, October 30, 1999 Saturday, Late Edition



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    eike batista

    Brazilian billionaire Eike Batista is drifting farther away from his ultimate goal of become the richest man in the world.

    In fact, as of yesterday, he's not even one of the 100 richest people on the planet.

    The sleuths on Bloomberg's billionaires team, tracking the flow of money around the world in real time, report that Batista lost $300 million yesterday when his shipbuilder OSX Brasil SA fell 11%.

    OSX is a part of an empire that includes mining, energy, logistics and more companies. All of it is held in EBX, Batista's holding company.

    Last year, Batista lost his place as Brazil's richest man to Jorge Lemann, the man who owns Anheuser Busch. Batista peaked in March 2012 when he had a fortune of $34.5 billion. Now he has about $10.7 billion.

    And remember, there's additional pressure for Batista to perform here. Last year he struck a deal with Abu Dhabi's sovereign wealth fund, Mubadala Development Company, for a $2 billion investment in his empire in exchange for a 5.63% stake in EBX.

    However, if Mubadala's investment doesn't return 5% by 2019, Batista has to turn over more of EBX.

    This, ladies and gentlemen, is a nail-biter.

    Click here to see how Eike clawed his way to the top and then started heading down>

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    mark zuckerberg in sunglasses

    Young philanthropists dominated this year's list of the 50 biggest donors in America, with three of the top five well under 40.

    Facebook's Mark Zuckerberg, 28, came in only behind Warren Buffetton the annual list from The Chronicle of Philanthropy. He and wife Priscilla Chan gave 18 million shares of Facebook stock, valued at close to $500 million, to support education and health programs in Silicon Valley.

    Even so, giving remained below pre-recession levels. The top 50 donors on The Chronicle's list committed $7.4 billion to charity in 2012, down from $10.4 billion the previous year. The median gift was $49.6 million, down significantly from 2007’s high of $74.7 million, according to The Chronicle.

    We're looking at the top 25 donors on this year's list; check out the complete list at The Chronicle of Philanthropy.

    #21 (tie) George Roberts

    Amount donated in 2012: $50 million

    Net worth: $3.7 billion

    Beneficiary: Claremont McKenna College

    Background: Roberts is a founding partner of Kohlberg Kravis Roberts & Company, an international private equity firm.

    Source: The Chronicle of Philanthropy



    #21 (tie) Eugene Lang

    Amount donated in 2012: $50 million

    Net worth: n/a

    Beneficiary: Swarthmore College

    Background: Lang founded REFAC Technology Development Corporation, a manufacturing and technology-transfer company.

    Source: The Chronicle of Philanthropy



    #21 (tie) Jeff and Judy Henley

    Amount donated in 2012: $50 million

    Net worth: n/a

    Beneficiary: University of California at Santa Barbara

    Background: Henley is chairman of the Oracle Corporation.

    Source: The Chronicle of Philanthropy



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    bill gates warren buffett

    Bill Gates hosted an "Ask Me Anything" on Reddit yesterday and a commenter wanted to know what the billionaire receives for his birthdays.

    His response: "Free software. Just kidding. Books actually."

    His favorite book?

    "My favorite of the last decade in Pinker's Better Angels of our Nature," says Gates. "It is long but profound look at the reduction in violence and discrimination over time."

    Gates was also asked about the "cheapest thing that gives him pleasure since he became wealthy."

    "Kids. Cheap cheeseburgers. Open Course Ware courses..." says Gates.

    SEE ALSO: Jack Dorsey Gives Everyone He Hires The Same Red Book

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    Jorge Lemann

    Everyone's talking about the massive deal Warren Buffett did buying Heinz ketchup for $28 billion in cash, $72.50 a share.

    Thing is, Buffett's not doing this alone. Berkshire Hathaway will own 50% of Heinz, and another company, 3G Investments will own the the rest.

    3G, a buy-out firm, is owned by the richest man in Brazil (and the 37th richest man in the world), Jorge Lemann, and in the last few years Lemann has done some big deals with big names.

    In 2008 Lemann bought a 10% stake in Anheuser-Busch InBev. with his two billionaire partners in 3G, Carlos Alberto Sicupira and Marcel Herrmann Telles. That's when the world really started paying attention to this former Brazilian national tennis star's aggressive management style. He seriously cut costs and employee perks like free beer.

    In 2010 he did another big deal with an American company. Using 3G Capital, his American investment firm, Lemann, his partners, and fellow Brazilian billionaire Eike Batista, managed a leveraged buy-out of Burger King (you can thank Lemann for getting rid of that creepy Burger King king, he fired the ad firm that came up with it).

    It was a hugely successful acquisition and in 2 years they sold 29% of the company to hedge fund manager Bill Ackman's UK investment vehicle, Justice Holdings.

    It was Justice that took Burger King public again last year (from FT):

    “When I learnt that Burger King was interested in a possible transaction with Justice, I brought the opportunity to my Justice founding partners to consider,” Mr Ackman said. “They liked what I saw, a 58-year-old global brand, and a simple, predictable, free cash flow growth franchise in the process of transformation into a pure brand royalty business.”

    Lemann became the richest man in Brazil when he overtook Eike Batista last year.

    SEE ALSO:  The Fabulous Life Of Eike Batista—The Brazilian Who Is Risking It All To Become Richest Man In The World

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    Jorge Paulo Lemann Burger King

    Yesterday Berkshire Hathaway disclosed that it would buy Heinz in a $28 billion deal, but they're not doing it alone.

    For a buy this big, Buffett enlisted the help of Brazil's most famous banker and arguably fiercest dealmaker, Jorge Lemann.

    Over the course of his life, Lemann has gone from journalist to national tennis champion to banker and now billionaire investor.

    Last year, he overtook Eike Batista to become Brazil's richest man. In terms of their business style, however, Lemann and Batista have little in common. Where Batista is a flashy playboy who's vowed to become to the richest man in the world, Lemann is a silent killer. He's known for a strict management style, and he doesn't seem to be in the game for the money (from Bloomberg):

    “Money is simply a way of measuring if the business is going well or not, but money in and of itself doesn’t fascinate me,” Lemann said in January 2008, according to an interview published in HSM Management magazine. He declined to comment for this story.

    That says a lot.

    Lemann was born in Rio in 1939.

    His father was a Swiss businessman who immigrated to the country in the 1920s.



    He left Brazil for Harvard, and earned his bachelors degree in economics in 1961.

    Lemann still has a great relationship with Harvard helping Brazilian students study there and setting up scholarships:

    Lemann has generously supported cross-cultural initiatives at Harvard University, including the Brazil Studies Program and Brazil Office of the David Rockefeller Center for Latin American Studies (DRCLAS), for over a decade. He established the Lemann Visiting Scholars program and, more recently, the Lemann Fellows program at the Harvard Graduate School of Education, the Harvard School of Public Health, the Harvard Kennedy School and the Graduate School of Arts and Sciences. He has actively engaged with the 38 students who comprise the first five cohorts of Lemann Fellows, as well as with students he has supported at Harvard College, Harvard Business School and elsewhere at the University.



    After Harvard, Lemann's life was a mixed bag. He trained at Credit Suisse for a while and worked as a journalist.

    Lemann worked as a business columnist for Jornal do Brasil. It's the 3rd oldest Brazilian paper in existence.



    See the rest of the story at Business Insider

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    If you want your child to grow up to be a billionaire, you should do what it takes to get him into Harvard University.

    The elite Boston school has minted more billionaire alumni than any other university 52, who are worth a total of $205 billion, according to a new report from research firm Wealth-X.

    That's almost twice as many as the University of Pennsylvania, the school with the second most billionaire alumni. Penn has 28 billionaire graduates, worth a total of $112 billion.

    Harvard also has far more ultra-high net worth alumni (worth $30 million or more) than any other school, at 2,964. Penn has 1,502 alumni in that category, and Stanford University has 1,174.

    Harvard's wealthy grads aren't just a bunch of lucky heirs and heiresses. Nearly three-quarters of Harvard's billionaires are self-made.

    "It shows the power of networks," Wealth-X president David Friedman told CNBC's Robert Frank. "Harvard has this entrenched, powerful network that extends across so many sectors and is incredibly pro-active about connecting its alumni. You get a great education, but you also get access."

    Of the 20 universities with the most UHNW alumni, only three are located outside the U.S. The University of Virginia was the highest ranking public university, coming in at #11 with 499 UHNW graduates worth a total of $31 billion.

    Check out some other data about the wealthiest college grads, courtesy of Wealth-X:

    Global Universities with the most UHNW ($30 million+) alumni:

    wealth x billionaire alumni

    Universities with the most billionaire alumni:

    wealth x billionaire alumni

    UHNW ($30 million+) alumni by gender and source of wealth:

    wealth x billionaire alumni

    SEE ALSO: The 10 Best College Towns In America

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    Philippe Courtot

    To say Qualys CEO Philippe Courtot knows how to make money from starting tech companies is an understatement.

    He's a multimillionaire after selling three companies and taking two others public.

    His latest success is Qualys, which went public in September.

    His first was cc:Mail, an early email program. When he took the CEO job, the company had $2,000 in the bank, he told Business Insider.

    He sold it to Lotus in 1991 for $55 million. He sold his next company, Signio, to VeriSign for $1.3 billion. Including his angel investments, he's helped build some 10 startups in his three decades in the Valley.

    With all the money he's made, he says he had to deliberately choose not to become too rich.

    "I'm not a billionaire and I never really wanted to be one," he said. "I could have been. But then you become too visible and then you lose your life."

    "I'm not saying being a billionaire is bad," he laughed. It's just that he'd rather be "more anonymous."

    So how did he deliberately avoid becoming a billionaire? By giving away large stakes of his companies to early employees, he says.

    "One of the thing I've done is shared the wealth. Some founders, for good or bad reasons, try to keep more of the shares for themselves. Yes, my goal was to make money, but I didn't want the burden of making too much money."

    SEE ALSO: 30 Tech Skills That Will Instantly Net You A $100,000+ Salary

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    Steve Cohen

    Billionaire hedge fund manager Steve Cohen, the founder of $14 billion SAC Capital, earned more than twice as much in 2012 than he did in 2011.

    Forbes has just released its 40 highest earning hedge fund managers list. Overall, Cohen ranked No. 3 on the magazine's list. 

    For 2012, Cohen took home an estimated $1.3 billion compared to $600 million in 2011, the list shows.

    SAC Capital had returns of 25% last year, according to Forbes.

    What's more is about 40% of SAC's assets under management come from outside investors with the rest belonging to Cohen and SAC employees, according to the New York Times. 

    Cohen has attracted a lot of unwanted attention lately because he has been identified in several media reports as "Portfolio Manager A" in the latest insider trading case against former CR Intrinsic (a subsidiary of SAC) portfolio manager Mathew Martoma.  

    It's known that Cohen is the ultimate target of the Securities and Exchange Commission and the Department of Justice. 

    Still, he has not been charged with any wrongdoing and he may never be charged. 

    SEE ALSO: The Fabulous Life Of Steve Cohen >

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    courtin clarins girls

    Ever since their first New York Fashion Week show in 2011, the Courtin-Clarins cousins have become a major hit in society circles and the fashion world.

    They've been featured in Vogue and on Vanity Fair's "best dressed" list, and are constantly sent clothes, shoes, and accessories by big-name brands.

    Tall, gorgeous, thin, and French, the Courtin-Clarins cousins seem to have it all. They are staples at Paris Fashion Week, and have already been spotted at the front row of Chanel this season, not to mention a slew of NYFW shows earlier in February.

    But who are they?

    New York Magazine, The New York Times, and Refinery 29 have all set out to answer that question, yet we still know surprisingly little about the four fabulous cousins.

    Courtin-Clarins Virginie and Claire

    Here's what we do know: Virginie, Claire, Prisca, and Jenna are the heiresses to the French cosmetics brand empire, Clarins. Their grandfather Jacques Courtin-Clarins founded the company in 1954, and it is now worth an estimated $3.6 billion, although that number is disputed and has most likely grown since the Courtin-Clarins family took the company private in 2008.

    Their fathers, Olivier and Christian Courtin-Clarins, now run the company, and were worth a combined $2 billion in 2012. Thanks to them, Clarins Group now owns the fragrance divisions of top jewelers David Yurman and Swarovski, has an 85 percent stake in French fashion house Thierry Mugler, and a 10 percent stake in French cosmetics company L'Occitane. 

    Virginie and Claire are the daughters of model Corrine Maine de Biran and Christian Courtin-Clarins. Virginie is 27 with long blonde hair that she wears in a signature fishtail braid, and graduated with a business degree from an unknown university in France. She owns her own swimsuit line, Luz, and lives in Paris. 

    Her sister Claire is the tallest Courtin-Clarins at six feet, and has cropped blonde hair with large blue eyes. She studied architecture and graphic design, is 26 years old, and is an artist living in NYC

    Their paternal cousins are the 26-year-old twins Prisca and Jenna. Prisca is the only brunette of the four women, and co-owns a trio of nail salons in Paris called The Nail Factory. She also lives in Paris, and is good friends with Nicola Fomechetti, the designer for Mugler. 

    Courtin-Clarins Prisca and JennaJenna, on the other hand is blonde, with a self-described "rock n' roll" style, and is a photography student living in Paris. Both twins are the daughters of sculptor and model Anneli Courtin-Clarins and Olivier Courtin-Clarins.

    All four women are brand ambassadors for Clarins and shareholders in the company. They've been testing beauty balms and makeup for their grandfather since they were children — from moisturizers to cellulite cream — and have launched their own "It Kit" of Clarins essentials as well as a Beauty Blog where they post videos of themselves explaining the correct way to use the products.

    Additionally, the cousins are on the supervisory board for Clarins, and help choose the brand's charities. Their main project has been their involvement with the nonprofit organization FEED, run by George Bush's granddaughter Lauren Bush.

    As the Clarins brand continues to become a bigger name in the US — now selling at stores like Sephora, Macy's, Bloomingdales, and Nordstrom— chances are we're bound to see much more of the Courtin-Clarins clan.

    SEE ALSO: Introducing The World's Hottest Billionaire Offspring

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    li ka-shing

    Asia has more billionaires than any other continent, a survey by a China-based wealth magazine showed on Thursday, apparently overtaking North America for the first time.

    There were 1,453 people around the world with a personal wealth of $1 billion or more as of January, said the Hurun Report, a luxury magazine publisher that compiled the list.

    Asia had 608 billionaires, North America 440 and Europe 324, it said in a statement.

    It is believed to be the first time Asia has been named as home of the largest proportion of super-rich on any global list.

    US business magazine Forbes said in its most recent international rich list, published in March last year, that the Asia-Pacific region had 315 billionaires, compared to 450 from North America and 310 in Europe.

    Among individual countries, the United States and China dominated the Hurun list, with 408 and 317 billionaires respectively, followed by Russia, Germany and India.

    Mexican telecoms czar Carlos Slim, 73, was ranked as the "Richest Man on the Planet" with a personal fortune of $66 billion. Slim also topped last year's Forbes global list.

    US investor Warren Buffett and Amancio Ortega of Spain, founder of fashion brand Zara, were second and third in the Hurun Report rankings, with a net worth of $58 billion and $55 billion respectively.

    Hong Kong investor Li Ka-shing kept his title of Asia's richest man with $32 billion, the seventh wealthiest person in the world.

    "In China we've seen a huge urbanisation boom and that has created a lot of wealth in property," Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, told AFP.

    Zong Qinghou, who heads soft-drink producer Wahaha, and Wang Jianlin of property developer Wanda were the only two from mainland China to make it into the top 100.

    richest

    The Hurun Report estimated the total wealth of the world's dollar billionaires at $5.5 trillion, roughly the size of the Japanese economy last year.

    "This past year has seen a rebound in the wealth of the private sector," it said, adding the net assets of the 10 richest people on the list rose 22 percent over the year, or $250 million a day.

    Real estate, telecommunications, media and technology and retail were the most common sources of wealth, it added.

    Moscow has more billionaires than any other city in the world with 76, it said, edging out New York, Hong Kong, Beijing and London.

    Hoogewerf said the true number of billionaires in the world could be three times higher as some super-rich hid their worth.

    "Some people deliberately make their wealth a secret because... they gained it through illegal ways," he told reporters at a press conference. "Some others simply prefer to keep a low profile."

    Hoogewerf, an accountant by training, previously compiled the Forbes rich list.

    He said the survey methods included examining public information such as stock market reports, scouring artwork purchase records and tracking down philanthropical activities.

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    carlos slim helu

    Forbes is out with its new billionaires list.

    Here's the Top 10. Once again, Mexican telecom magnate Carlos Slim Helu is #1.

    billionaires

    Below the dotted line is the full press release from Forbes PR:

    --------------------------------------------------------------------------------------------------------------------

    warren buffettNew York, NY (March 4, 2013) – Carlos Slim Helú (#1) is the world’s richest person on Forbes’ 27th annual ranking of the world’s billionaires.  With a net worth of $73 billion, up from $69 billion in 2012, the telecom magnate from Mexico tops the list for the fourth year in a row.  Bill Gates retains the #2 spot with a net worth of $67 billion. Zara’s Amancio Ortega (#3) moves up two spots from 2012, with a net worth of $57 billion, ahead of Warren Buffett (#4) with a net worth of $53.5 billion.  This marks the first year Buffett has not been in the Top 3 since 2000, in spite of being the second biggest gainer this year, up $9.5 billion.      

    Rebounding equity markets and strong consumer brands drove a huge number of newcomers into the billionaire ranks.  This year 210 billionaires are new to the list, while 60 dropped off (still more died or split their fortunes with a family).  A record 1,426 billionaires (up 200 from 1,226 in 2012) made the list, with an average net worth of $3.8 billion (up from $3.7 billion in 2012).  Added together, the total net worth for this year’s billionaires is $5.4 trillion, up from $4.6 trillion last year.  The U.S. leads the list, with 442 billionaires, followed by Asia-Pacific (386), Europe (366), The Americas (129) and the Middle East & Africa (103).    

    A total 138 women made the list this year, an increase of 34. With a net worth of $30 billion, Liliane Bettencourt (# 9) is now the richest woman in the world. Other women on the list include Miuccia Prada (# 78) of Italy, Anne Cox Chambers (#80) of the U.S., and new to the list, Margarita Louis-Dreyfus (#198) of Switzerland, with net worths of $12.4 billion, $12 billion and $6 billion, respectively.    

    Notable newcomers include: Singapore real estate magnates Robert & Philip Ng (#108), worth $10.1 billion; Diesel jeans mogul Renzo Rosso (#458), worth $3 billion; Hermes’ Nicolas Puech (#704) worth $2.1 billion; GoPro’s Nicholas Woodman (#1107), with a net worth of $1.3 billion, retailer  Bruce Nordstrom (#1175), worth $1.2 billion, fashion designer Tory Burch (#1342) and former business partner and ex-husband Christopher Burch (#1342), each with a net worth of $1 billion, and American filmmaker Ryan Kavanaugh (#1342) also with a net worth of $1 billion.    

    Amancio Ortega is the world’s biggest gainer in dollar terms, adding $19.5 billion to his net worth. Another gainer: New York Mayor Michael Bloomberg (#13), who moves up from the No. 20 spot last year with a net worth of $27 billion (an increase of $5 billion from 2012).  The year’s biggest loser, with a $19.4 billion drop in his fortune, is Brazilian Eike Batista (#100). Mark Zuckerberg (#66) has a net worth of $13.3 billion, compared to $17.5 billion in 2012, when he ranked #35.    

    mark pincusNotable drop-offs include Zynga’s Mark Pincus, former Chesapeake Energy CEO Aubrey McClendon, Alex Lebedev.   The Top 10 have a combined net worth of $451.5 billion, up from $395.4 billion in 2012:

    Check out the full Forbes list here >

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    Bill Ackman

    Hedge fund titan Bill Ackman, the CEO of Pershing Square Capital Management, is officially a billionaire. 

    Forbes has just released its annual "World's Billionaires" list and this time Ackman is on it. 

    The magazine estimates that the 46-year-old fund manager has a net-worth of $1.2 billion. He ranks No. 1,175 in the world. 

    This is some much needed good news for the fund manager.

    Ackman has made headlines lately for his Herbalife short. He is shorting more than 20 million shares of the nutrition supplement seller with a price target of $0 because he believes it is a pyramid scheme. 

    He has also been in the spot light for his big position in JCPenney, which had disastrous earnings causing the stock to tank. 

    SEE ALSO: 13 Reasons Why You Should Become A Billionaire >

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    bill gates

    Forbes has released its annual billionaires list.

    This is the 27th year the publication has put together the ranking.

    A majority of the individuals on the tech portion of Forbes' massive list are self-made.

    Bill Gates is still the richest man in technology, his net worth increased by $1 billion between 2012 and 2013.

    15. James Goodnight -- Net worth: $7.7 billion

    Age: 70

    Source of income: software

    Overall rank on the Forbes Billionaires List: 154



    14. Eric Schmidt -- Net worth: $8.2 billion

    Age: 57

    Source of income: Google

    Overall rank on the Forbes Billionaires List: 138



    13. Pierre Omidyar -- Net worth: $8.7 billion

    Age: 45

    Source of income: eBay

    Overall rank on the Forbes Billionaires List: 123



    See the rest of the story at Business Insider

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    Paul Tudor Jones, Sonia Jones

    The annual Forbes' "World's Billionaires List" is out. 

    Every year, the list is full of the biggest names in the hedge fund industry. 

    This year, there are some newcomers to the list including, Bill Ackman (Pershing Square), Seth Klarman (Baupost Group) and Andreas Halvorsen ("Tiger Cub"/Viking Global). 

    We've included a round up of the world's richest hedge funders in the slides that follow. 

    Seth Klarman

    Rank: 1332

    Net-worth: $1.05 billion

    Age: 55

    Fund: Baupost Group

    Source: Forbes



    Henry Swieca

    Rank: 1175

    Net-worth: $1.2 billion

    Age: 55

    Fund: Talpion Fund Management

    Source: Forbes



    Thomas Sandell

    Rank: 1175

    Net-worth: $1.2 billion

    Age: 52

    Fund: Sandell Asset Management

    Source: Forbes



    See the rest of the story at Business Insider

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    Pollyanna Chu

    There's a brand new billionaire financier on the 2013 Forbes Billionaires list, a 53 year-old Hong Kong woman named Pollyanna Chu.

    Forbes' list puts together the richest people from all over the world and divides them by nationality, industry and age and more.

    Chu made the list as biggest shareholder and CEO of Kingston Financial, a brokerage firm. In 2010, Chu and her husband Nicholas decided to fold Kingston into another part of their family business, Golden Resorts, a hotel and casino company with properties in Macao including the Grandview Hotel and the Casa Real Hotel.

    The couple started Kingston in 1993, after success in the real estate business in California. According to Forbes, Nicholas and Pollyanna both studied and met in the United States. It was Pollyanna's father who said they should look into setting something up in Hong Kong's newly booming market.

    From there it was all about building, even though Chu says she knew very little about finance when they started. To grow in Asia, Kingston focused on IPO distribution and mergers and acquisitions, becoming a top five firm for the latter in 2010. The Chu's decided to fold the private brokerage into the publicly traded Golden Resorts in hopes to expand internationally.

    That's how Kingston Financial Holdings came to be. Last year, Chu bought 75% of Sincere Watch, a distributor of Frank Muller watches in mainland China, and added that to her growing empire. She also has a 14.11% stake in a Premier League team, Birmingham City, according to The Daily Mail.

    Chu holds a B.A. in Management from Golden Gate University and an Honorary Doctorate of Philosophy in Business Management from York University. She and her husband have one son named Kingston.

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    tory burchTory Burch is a notable addition to the annual Forbes billionaire list. 

    The women's apparel company she started in 2004 is now worth an estimated $3.5 billion, making her 28.3 percent stake worth over $1 billion.

    Burch could be worth even more if the company decides to go public, something that many industry people speculate could happen now that her legal battle with ex-husband Chris Burch is over. 

    Tory Burch LLC brought in $800 million in revenues in 2012, according to Forbes. By comparison, Michael Kors brought in $800 million in revenues in 2011, went public that year, and is now worth $10 billion. 

    Burch started her business in her kitchen 10 years ago. Today, she is famous for her Reva ballet flats, which are a staple among working women. 

    At 46, she's the second youngest self-made female billionaire. The youngest is Spanx founder Sara Blakely, 42. 

    SEE ALSO: How Tory Burch Made The Forbes Billionaire List In Less Than A Decade >

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    Lily Safra

    Billions of dollars really do grow on trees –– at least for the handful of Forbes' 2013 Billionaires who didn't have to work for their ten-figure bank accounts.

    Of more than 1,400 billionaires listed, Forbes listed "inherited" as the source of income for only a handful.

    Though we are sure there are other billionaires whose wealth came by way of inheritance (Sam Walton's billionaire heirs, for one), we are highlighting the ones Forbes specifically calls out.

    We've taken a closer look at how they found their way to riches.

    1. Lily Safra

    Forbes ranking#1175
    Net Worth: $1.2 billion
    Age: 75
    Country: Monaco

    Lily Safra, 75, owes her wealth to her late husband, billionaire banker Edmond Safra, who died in a 1999 apartment fire, according to Forbes.

    The well-heeled widow is the third wealthiest person in her native Monaco.  

    Charitable giving: Safra made headlines in 2012 when she auctioned off a 70-piece collection of jewelry to benefit nearly three dozen charities. The lot sold for an astounding $38 million.

    2. Elaine Marshall & Family

    Forbes ranking#145
    Net Worth: $8 billion
    Age: 70
    Country: U.S.

    The 48th wealthiest woman in the U.S., Elaine Marshall inherited her billions from her late husband, J. Pierce Marshall in the form of a 14.6 percent stake in Koch Industries. The funny thing is no one knew about her fortune until Bloomberg named her the 4th richest woman in the U.S. in 2012.  

    Fun fact: She's the daughter-in-law of Anna Nicole Smith, who was married to Elaine's late father.

    3. Jorn Rausing

    Forbes ranking#233
    Net Worth: $5.2 billion
    Age: 53
    Country: Sweden 

    Swedish billionaire Jorn Rausing may have inherited his $5.2 billion fortune from his late mother, Birgit, but he hasn't used that as an excuse to escape the working world. Rausing sits on the board of Tetra Laval, the company his grandfather founded that is responsible for the Tetra Pak –– the special boxes used to store milk and juices without refrigeration, according to Forbes.

    Fun fact: A plan to kidnap Jorn by pro-Palestinian terrorists was thwarted in 1989.

    4. Finn Rausing

    Forbes ranking#239
    Net Worth: $5.1 billion
    Age: 58
    Country: Sweden

    Along with younger brother Jorn, Finn Rausing sits on the board of Tetra Pak-maker Tetra Laval. He's the fifth richest person in Sweden, behind Jorn, who's the fourth.

    5. Eduardo Hochschild

    Forbes ranking#704
    Net Worth: $2.1 billion
    Age: 49
    Country: Peru

    Peru's fourth richest man, Eduardo Hochschild owed his wealth to his great uncle, who founded hte wildly successful Peruvian gold and silver mining company in 1911, according to forbes. Hochschild studied science in the U.S. at Tufts University and first joined Hochschild Mining in 1987 as a safety assistant.

    Like another billionaire heir, Jorn Rausing, Hochschild survived a kidnapping. A gunman killed his father and Hochschild was held captive for six days before his release. 

    6. Yoshiko Mori

    Forbes ranking#1342 
    Net Worth: $1 billion
    Age: 72
    Country: Japan

    When Minoru Mori, one of Japan's most powerful real estate tycoons, passed away last year, his wife, Yoshiko, took over the family fortune. She's now ranked the 20th richest person in Japan.

    According to Forbes, her late husband was most known for building China's tallest building, the Shanghai World Financial Center. 

    SEE ALSO: 21 cities that are dominated by rich people >

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