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<keyword id="6355199" type="General" weightage="80" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> maintained its highest ranking among Indian private sector companies in the latest Global 500 list published by Fortune for 2022.<br /><br /><keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword> Industries improved its rank by 51 places to 104 from its previous year's rank of 155.<br /><br /><keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> has nine companies in the Fortune's Global 500 list -- five from the public sector, and four from the private sector.<br /><br />Only the debutant <keyword id="6368369" type="General" weightage="50" keywordseo="life-insurance-corporation-of-india" source="Orion">Life Insurance Corporation of India</keyword> -- a public sector company, which came out with an <keyword id="6354763" type="General" weightage="50" keywordseo="ipo" source="Orion">IPO</keyword> earlier this year -- was ranked higher than Reliance at 98 among Indian corporates.<br /><br />It is the 19th year that <keyword id="6484187" type="General" weightage="50" keywordseo="ril" source="Orion">RIL</keyword> has been a part of the Fortune 500 list - much longer than the other private sector companies in India.<br /><br />The Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before March 31.<br /><br />Reliance Industries closed FY22 with record high consolidated revenues of Rs 7.92 lakh crore, up 47 per cent, and EBITDA of Rs 1.25 lakh crore, up 28.8 per cent Y-o-Y, with each of the O2C, retail and digital services businesses posting all-time high revenues.<br /><br /><br /><strong>SEE ALSO :<br /><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-expected-to-open-higher-after-a-6-session-gaining-streak/articleshow/93336524.cms">Markets expected to open higher after a 6-session gaining streak</a><br /><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-and-us-fed-policies-are-more-similar-than-you-think/articleshow/93329850.cms"><strong>RBI and US Fed policies are more similar than you think</strong></a><br />

LIC ranks ahead of Reliance in Fortune's Global 500 list

<br /><ul><li><strong>Recently, Microsoft experimented with four-day work week in Japan and witnessed a 40% surge in productivity. <br /></strong></li><li><strong>But for the same to be implemented in India, there are multiple other issues that can be fixed to improve productivity. <br /></strong></li><li><strong>However, a recent survey by <keyword id="1069576" type="COMPANY" weightage="20" keywordseo="Kronos-Incorporated">Kronos Incorporated</keyword> showed that Indians would choose to work five days a week, even if they are paid equally for working four days.<br /></strong></li><li><strong>Indians feel the most pressure to extend their work hours to grow professionally. </strong></li></ul>Microsoft recently experimented with four-day work week in Japan and witnessed a 40% surge in productivity.<br /><br />But for the same to be implemented in India, there are multiple other issues that can be fixed to improve productivity. The biggest issue of them all is that almost 80% of people in India are employed in the informal sector and small, proprietary businesses. <br /><br />Small businesses with limited resources end up stretching their existing employees beyond what would be fair. Most people end up working six days a week, and sometimes even more⁠— either to meet their own requirements or that of the business.<br /><br />Salaried, corporate employees, with fixed weekly holidays, form a very small portion of India’s total workforce. But both sections of the society face similar challenges when it comes to their work ⁠— most of their day is consumed by their work and earning their livelihood.<br /><br />Yet, as India moves towards more organised employment, some of the basic characteristics of having a job in India must change before the country at large, can debate the possibility of a four-day week.<br /><br /><strong>Commute time<br />
  
  
  <div type="image" title="commute" msid="72015645" hostid="261" caption="&amp;lt;p&amp;gt;The commute time is the biggest buzzkill there is in India.&amp;lt;/p&amp;gt;"></div>







</strong><br />The commute time is the biggest buzzkill there is in India. An average Indian office-goer spend over two hours in commute everyday — accounting for 7% of their day. And the worst of all days is Monday which has the highest average commute time, according to a survey by MoveInSync. By the time a person reaches office⁠ — after having battled the choking crowd of a train, or the endless traffic jam on the road, through the sweltering heat or the water-logged streets, delayed by the bus, denied by the cabbies⁠— the energy and enthusiasm for a long day’s work is significantly worn down.<br /><br />Reducing the commute time and making it easier will need better infrastructure, better roads and less traffic, and better public transportation. <br /><br />That is another reason why a four-day work may make sense.“If this itself is brought down by a day, the levels of motivation will increase. Employees may even be willing to put in additional hours in 4 days rather than travel the additional day,” Neeti Sharma, Senior Vice President, TeamLease Services told Business Insider India.<br /><br />The other solution to this is to allow people to work remotely whenever possible. In recent years, flexible work timings, remote work options have been the top priorities of the Indian workforce, while considering a job opportunity. And organisations in India are embracing the change, but very slowly.<br /><br /><strong>End long meetings</strong><br /><br />
  
  
  <div type="image" title="startup-849794_1920" msid="72015647" hostid="261"></div>







<br />Indian offices are infamous for endless meetings that eat into the time for action. <br /><br />According to audit firm, KPMG it’s not the number of hours but the impact of work within the working hours. “When you have less time to work each week, you’re more mindful of how you utilize it with work colleagues and personal relationships. This will lead to shorter, and better run meetings at the workplace. So you don’t end up wasting time on ‘I thought you said…’” said Unmesh Pawar, Partner and Head, People, Performance and Culture, KPMG in India.<br /><br /><strong>Reskilling before shorter weeks</strong><br /><br />Is this the time for a four-day week in India? A recent <a href="https://www.businessinsider.in/careers/news/over-half-of-indian-students-will-not-have-skills-for-21st-century-jobs-warns-unicef/articleshow/71938857.cms">UNICEF report</a> said that over the next decade, half of the youth in South Asian countries will not be able to land a decent job due to lack of relevant skills.<br /><br />Reskilling of employees is yet another concern of companies across sectors. The advent of digital technologies such as artificial intelligence, cloud, devOps, and big data will demand professionals to re-skill themselves every 3-4 years so as to evolve in a competitive working environment, Zairus Master, CEO Shine Learning told the Economic Times.<br /><br />“There are multiple parameters to enhance productivity along with the four day week such as upskilling employees, strong performance incentive policies. While there is no defined data points in India yet, there are few companies that already have moved to a four day week model and are able to achieve their goals effectively,” Sharma added.<br /><br />This is not a concern just for the employers, even employees feel the pressure of being inadequate at times. A survey by <a href="https://www.businessinsider.in/indians-will-prefer-to-learn-a-new-skill-if-they-have-a-four-days-work-week-survey/articleshow/68516702.cms">Kronos Incorporated</a> showed that Indians would choose to work five days a week, even if they are paid equally for working four days. Three in every five respondents said that they will utilise the time to enhance their skill sets or acquire certification.<br /><br /><strong>Paid holiday?</strong><br /><br />Additional paid holiday can allow time to employees to upskill themselves, thereby increasing the motivation of employees directly. This includes short term courses, online learning programmes. <br /><br />“In an ideal world, these three-day <keyword id="6369743" type="UNKNOWN" weightage="20" keywordseo="long-weekend">long weekend</keyword> could also be utilized to apprentice with someone to be able to learn a new skill. Five hours a week — which is equivalent to 20 hours per month — is a good duration to learn a new skill,” she said.<br /><br />“It is important that employers address their employees’ health holistically—both for their own good and for the good of their organisation,” Pawar added.<br /><br />However, in India, employees find it difficult to even take the leaves that they are entitled to. A recent survey showed that over 40% of Indian employees are stuck with pending work.<br /><br /><strong>The mindset</strong><br /><br />The implementation will require a ‘social change’ across hierarchies including the top management. Bhajneet, who is an independent talent advisor for startups said that almost 43% of organizations in the propelled economies offer employees a consolidated workweek choice. <br /><br />Indians feel the most pressure to extend their work hours to grow professionally, the survey added.<br /><br />“The competitive gene in the Indian mindset may cause this system to collapse unless we define clear ways to implement the four days work week and alter the orthodox mindset of managers who may tend to measure performance in quantity rather than efficiency,” Anne Soumya, Director HR of the Adecco Group India said. Adecco Group is a <keyword id="190055" type="PERSON" weightage="20" keywordseo="Fortune-Global-500">fortune global 500</keyword> company, which is into staffing and temporary hiring.<br /><br />Given the existing gaps, it may be a while before India Inc warms up to the idea of a four-day work week. <br /><br /><strong>See also:</strong><br /><a href="https://www.businessinsider.in/tech/news/microsoft-experimented-with-a-4-day-work-week-in-its-japan-office-and-productivity-jumped-by-40/articleshow/71901595.cms">Microsoft experimented with a 4-day work week in its Japan office, and productivity jumped by 40%</a><br /><br /><a href="https://www.businessinsider.in/indians-will-prefer-to-learn-a-new-skill-if-they-have-a-four-days-work-week-survey/articleshow/68516702.cms">Indians were asked what they would do in their free time if they could work for four days a week — and their answers are unexpected</a><br />

Microsoft’s four-day work week idea will be good for Indians⁠— but there is a lot to be fixed before that

<p><div class="image-container float_right"><div class="image"><p class="source on-image">REUTERS/Brian Snyder</p><p class="caption">Students cheer at the Harvard Business School graduation ceremony</p></div></div>If you want to be the Chief Executive Officer of a major company, where you went to school matters, according to a new list from Times <keyword id="6375224" type="ORGANIZATION" weightage="60" keywordseo="higher-education">Higher Education</keyword>. </p>
<p>THE recently compiled a list of the universities around the world that produce the most <keyword id="6407546" type="COMPANY" weightage="60" keywordseo="CEOs">CEOs</keyword>, based on the alma maters of Fortune Global 500 CEOs. </p>
<p>From the list and speaking with both academics and businesspeople, THE found that - regardless of your major - "<a href="http://www.timeshighereducation.co.uk/where-you-went-could-determine-where-you-go-in-business/2006904.article">the presence of the right institution on your CV reassures potential employers about your likely aptitude for the job.</a>"</p>
<p>According to THE's methodology, university rankings were determined using "<a href="http://www.timeshighereducation.co.uk/the-alma-mater-index-global-executives-2013-methodology-and-results/2006903.article">the total number of degrees awarded to CEOs; the total number of CEO alumni; [and] the total revenue of the alumni CEOs' companies.</a>"</p>
<p>We've included all of this information for the top American schools, as well as the U.S. News and World Report's rankings of undergraduate and graduate business programs. We have also included a few CEO <keyword id="66901" type="UNKNOWN" weightage="60" keywordseo="Alumni">alumni</keyword> from every school on our list. </p>
<p>Harvard topped THE's list - both for international and American universities. The school has 25 alumni CEOs currently, more than double the next American university on the list.</p>

The 11 American Universities That Produce The Most CEOs

Integrated manufacturing solutions company <keyword id="6521648" type="General" weightage="50" keywordseo="sanmina-corporation" source="Orion">Sanmina Corporation</keyword> and <keyword id="10849195" type="General" weightage="50" keywordseo="reliance-strategic-business-ventures-limited" source="Orion">Reliance Strategic Business Ventures Limited</keyword> (RSBVL), a wholly-owned subsidiary of <keyword id="10926" type="General" weightage="50" keywordseo="reliance" source="Orion">Reliance</keyword> Industries Limited (RIL), on Tuesday announced the completion of their joint venture transaction.<br /><br />The joint venture will create a world-class electronic manufacturing hub in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, in line with Prime Minister Narendra Modi's 'Make in India' vision.<br /><br />All the manufacturing will take place at <keyword id="315784" type="General" weightage="100" keywordseo="sanmina" source="Orion">Sanmina</keyword>'s 100-acre campus in Chennai, with the ability for site expansion to support future growth opportunities as well as to potentially expand to new manufacturing sites in India over time based on business needs, the companies said in a statement.<br /><br />The day-to-day business will continue to be managed by Sanmina's management team in Chennai.<br /><br />The joint venture will prioritise high technology infrastructure hardware, for growth markets, and across industries such as communications networking (5G, cloud infrastructure, hyperscale data centers), medical and healthcare systems, industrial and cleantech, and defence and aerospace.<br /><br />"In addition to supporting Sanmina's current customer base, the joint venture will create a state-of-the-art 'Manufacturing Technology Center of Excellence' that will serve as an incubation center to support the product development and hardware startup ecosystem in India, as well as promote research and innovation of leading-edge technologies," said the companies.<br /><br />Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the communications networks, cloud solutions, industrial, defence, medical and automotive markets.<br /><br />Currently ranking 104th, Reliance is the largest private sector company from India to feature in Fortune's Global 500 list of 'World's Largest Companies' for 2022.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/national-green-tribunal-slaps-telangana-with-a-3800-cr-fine-for-waste-management-failure/articleshow/94636341.cms">National Green Tribunal slaps Telangana with a ₹3,800 cr fine for waste management failure</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-5g-prices-may-be-affordable-for-now-but-expected-to-increase-after-wider-rollout/articleshow/94636173.cms"><strong>Reliance Jio and Airtel 5G prices may be affordable for now but expected to increase after wider rollout</strong></a><br />

RIL, Sanmina completes JV to build manufacturing hub in India

<ul class="summary-list"><li><strong>Chanel CEO Leena Nair told The Wall Street Journal she's been a trailblazer in every job she's had. </strong></li><li>Nair said she got 7,000 emails and letters from women applauding her when she was appointed in 2022.</li></ul><p>The CEO of Chanel said she got about 7,000 emails and letters from women and girls praising her appointment, she told <a target="_blank" href="https://www.wsj.com/style/fashion/leena-nair-chanel-ceo-unilever-e2c2b697?mod=hp_lead_pos11"><u>The Wall Street Journal</u></a>.  </p><p>The French luxury retailer appointed Leena Nair as only its second female boss in its 113-year history in January 2022. <br /><br />"I've been the first at every job I've done. The first woman, the first brown person, the first Asian, the first Indian—but I don't want to be the last, and I am going to try and make it easier for those who come after me," Nair told the Journal, adding that one of her mottos is "lift as you climb." </p><div type="image" title="Models in Chanel Haute Couture Fall/Winter show in Paris this month." height="3838" width="5756" msid="103170546" hostid="261" sizebytes="1065380"></div><p>Fortune's Global 500 rankings of the world's companies by revenue, <a target="_blank" href="https://fortune.com/2023/08/02/fortune-global-500-female-ceos-women/"><u>released earlier this month</u></a>, found that just 29 – or 6% – have a female CEOs. That's up from 24 last year. </p><p>That shows there's considerable room for improvement at the top of the biggest businesses. </p><p>Nair said she'd been told she couldn't do something "because I'm a girl" many times in her life. The 54-year-old added that "afterwards, you stop listening." <br /><br />Maureen Chiquet became the Chanel's first female boss when she was <a target="_blank" href="https://www.forbes.com/sites/karineldor/2021/01/11/exclusive-maureen-chiquet-former-global-ceo-of-chanel-joins-credo-board-of-directors/">appointed as its global CEO</a> in 2007, before she resigning in 2016 due to <a target="_blank" href="https://www.nytimes.com/2016/01/28/business/international/maureen-chiquet-is-leaving-chanel.html">strategic differences</a>. Chanel co-owner and chair <a target="_blank" href="https://www.businessinsider.com/wertheimer-family-chanel-fortune-gerard-alain-vineyards-thoroughbred-net-worth-2019-2">Alain Wertheimer</a> took over the role for five years until Nair was appointed. </p><p>Nair was previously chief human resources officer at consumer goods giant Unilever before joining Chanel. </p>

Chanel's CEO says she's been the 'first woman, the first brown person, the first Asian, the first Indian' in every job – and wants to lift others up

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Ex Machina the movie</span></p></div><p></p></div></div>Women are going to lose out the most when robots take over the world.</p><p>Yes - you read that correctly.</p><p>The World Economic Forum warned in a startling new "The Future of Jobs" report, ahead of its highly-anticipated annual meeting in Davos, Switzerland, this week, that when robots, artificial intelligence, and automation push 7.1 million people out of a job through redundancy, automation or disintermediation, women are going to bear the brunt of unemployment.</p><p>WEF blames two things for this.</p><p>Firstly, it says that most of the job losses to technology are in female-dominant roles, such as administration.</p><p>Secondly, WEF says that while the creation of 2.1 million new jobs will partially offset some of the job losses, the fact that most of these roles will be in specialised areas such as computing, maths, architecture, and engineering and that women have "low participation in high growth skills" then the new positions are less likely to be filled by females.</p><p>STEM (science, technology, engineering, mathematical) professions are one of the fastest-growing areas of job creation but this is where women lose out. It estimated that women stand to gain only one new STEM job for every four men gain.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>WEF</span></p></div><p></p></div></div>"There is a unique opportunity at present to address long-existing gender divides in the economy. If we don't take advantage of this, we will see more gender segregation in the workforce, affecting wages and livelihoods, not to mention greater economic inequality in society as a whole", said Saadia Zahidi, Head of the Global Challenge on Gender Parity at the World Economic Forum in the report.</p><p>WEF's report coincides with the annual Davos meeting this week which has a theme of "The Fourth Industrial Revolution." It estimates that the transformation of the labour markets will lead to a net loss of over 5 million jobs in 15 major developed and emerging economies by 2020.</p><p>These countries include Australia, China, France, Germany, India, Italy, Japan, Britain, and the United States.</p><p>The survey involved analysing the responses from 350 of the largest companies in the world, including over 150 of the Fortune Global 500. WEF said that in addition to the individual company responses, it had over 1,300 detailed occupation-level data points on mass employment, specialist, and newly emerging occupations based in specific geographic locations across these companies' global operations.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/everyday-phrases-smart-people-say-incorrectly-2016-1">Everyday phrases that even smart people say incorrectly</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="44Z3ZoeDrznjy0zyuh6chLpAhZsFsPBY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Women are going to lose out the most when robots take over the world's workforce

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Just one day after <span>Microsoft </span><a href="http://www.businessinsider.com/microsoft-office-365-offers-unlimited-storage-2014-10">said it will give away unlimited cloud storage to consumers</a> who buy its cloud Office apps, Google has <a href="http://googleforwork.blogspot.com/2014/10/pwc-and-google-bringing-transformation.html">a big announcement for </a><a href="http://googleforwork.blogspot.com/2014/10/pwc-and-google-bringing-transformation.html">Google Apps for Work</a>, its Microsoft Office killer.</p>
<p>Google has signed PricewaterhouseCoopers (PcW) to be both a customer and a partner for Google Apps for Work.</p>
<p>Apps for Work is Google's cloud alternative to Microsoft Office, geared for businesses. It includes email, word processing, spreadsheet and presentation software, cloud storage, and a few other apps that all make it easy for employees to share and work on documents together.</p>
<p>PcW will roll out Google Apps for Work to 45,000 of its own employees in the US and Australia, Google says.</p>
<p>That's not the entirety of PcW's workforce, which <a href="http://www.pwc.com/gx/en/about-pwc/facts-and-figures.jhtml">employs about 180,000 people</a> worldwide, but it's still a big contract for Google Apps.</p>
<p>Even more importantly, PcW, which has a huge IT consulting arm, will help its customers move to Google Apps and will help them write custom <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="Enterprise">enterprise</keyword> and mobile apps to be hosted on Google's cloud.</p>
<p>PcW counts 417 of the Fortune's Global 500 as "customers" in some way, shape, or form.</p>
<p>By signing PcW as a partner, Google just nabbed a huge enterprise sales force and many consultants, people who are used to navigating the complexities of a selling software to enterprises (which includes things like difficult bidding processes, contract negotiations, etc.).</p>
<p>Navigating an enterprise contract has historically been Google's weak spot. Google has been overcoming that, getting the necessary security certifications to make enterprises trust its cloud with their data. And it's been signing on sales partners. Earlier this year, <a href="http://www.sprint.com/business/solutions/google_apps/#.VE-_n-exX1t">Google signed Sprint as a partner to sell Apps</a> to its business customers. A few years ago, it signed HP as a partner, too.</p>
<p>Its list of big customers is growing, too - like the <a href="http://www.businessinsider.com/microsoft-loses-boston-to-google-apps-2014-1">city of Boston</a>, Whirlpool, <a href="http://googleenterprise.blogspot.com/2012/02/roche-group-goes-google.html" target="_blank">Roche</a>, Woolworth's, and <a href="http://www.businessinsider.com/microsoft-loses-boston-to-google-apps-2014-1">so on</a>. Those names help convince other big companies to use Google Apps instead of Microsoft Office.</p>
<p>Enterprises are increasingly looking to use cloud computing to host their apps, instead of buying servers and running everything in their own clouds. There's a huge land grab going on right now between all the major IT vendors to take these customers, particularly between Google, Microsoft, Amazon and IBM, with others like HP, Oracle, Salesforce.com, in the mix, too.</p>

Google Strikes Back At Microsoft By Landing A Huge Customer/Partner For Its Office Killer

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Jack Taylor/Getty</span></p><p class="caption">Apple employees bring a lot of profit to the company.</p></div><p></p></div></div></p><ul><li><strong>Apple is seventh in profit per employee, Facebook is fourth, and Walmart is 99th.</strong></li><li><strong>Fannie Mae, Gilead, and Freddie Mac earn the most profit for each employee of any company.</strong></li><li><strong>Banks and pharmaceutical companies are all over the list, but those led by women CEOs are few and far between.</strong></li></ul><p> </p><p>Apple made over $45.5 billion in profits over its last fiscal year, leading <a href="http://fortune.com/global500/list/filtered?profitable=true&amp;sortBy=profits">Fortune's Global 500 list</a> of profitable companies. With 116,000 employees, the tech giant profits nearly $400,000 per employee.</p><p>Using Fortune's list of 500 companies with the highest revenue, <a href="https://www.expertmarket.co.uk/focus/most-profitable-employees">Expert Market</a> calculated which 100 companies profit the most for every worker they employ.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Samantha Lee/Business Insider</span></p></div><p></p></div></div></p><p>To find these numbers, Expert Market simply divided the company's profit over the last financial year by the number of people it employs.</p><p>Apple did not in first; Tim Cook's company ended up in a respectable seventh on Expert Market's list. Facebook - 28th in profit but with about a tenth of the number of Apple's employees - is fourth.</p><p>Walmart - the 13th most profitable company - drops to 99th when ranked by profit per employee because of its large 2.3 million-person workforce.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Getty/Joe Raedle</span></p></div><p></p></div></div></p><p>Government-sponsored entities Fannie Mae and Freddie Mac are first and third on the list, respectively. Fannie Mae - or more properly, the Federal National Mortgage Association - had a profit of $12.3 billion and a profit per employee of $1.76 million. Its brother organization, Freddie Mac, had a lower total profit and fewer employees but made $1.3 million for each employee.</p><p>Gilead Sciences - an American pharmaceutical company - falls in between the mortgage loaners. With $1.5 million in profits per employee, Gilead came in second on Expert Market's ranking. In total, 10 pharmaceutical companies made their way to the top 100.</p><p>Banks took up 30 spots on the list of the 1oo companies that were most profitable per employee, led by Goldman Sachs at 10th.</p><p>This year's <a href="http://fortune.com/2017/06/07/fortune-women-ceos/">Fortune 500</a> has a record 32 female CEOs, but by profit per employee, a woman-led company doesn't come in until the 55th spot, where Safra Catz is one of Oracle's two top executives. Catz is joined in the top 100 by Lockheed Martin's Marillyn Hewson, PepsiCo's Indra Nooyi, IBM's Ginni Rometty, and General Motor's Mary Barra.</p><p>Eight of the top 10 and 12 of the top 20 companies for profit per employee are American organizations. Of the remaining eight companies, three are Chinese, two are Australian, and there's one company each from Japan, Taiwan, and the UK.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/marine-fortune-500-coach-goals-2017-6">A Marine who coaches Fortune 500 execs explains why setting goals is a complete waste of time</a></h3>        <div>                    </div>    </div>

The 23 companies that create the most profit per employee

<p><span style="font-size: 15px; line-height: 1.5em;"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>THE "Lucky Sperm Club", as Warren Buffett likes to call it, is still going strong in the commanding heights of business. On opposite sides of the Atlantic, Ana Botín and Abigail Johnson have recently succeeded their fathers in filling two of the most powerful jobs in finance, as chairman of Banco Santander and chief executive of Fidelity Investments, respectively.</span></p>
<p>Founding dynasties run, or wield significant clout at, some of the world's largest multinationals, from Walmart to Mars, Samsung to BMW. Half a century ago management experts expected the hereditary principle to fade fast, because of the greater ability of professionally-run public firms to raise capital and attract top talent. In fact, family firms have held their ground and, in recent years have increased their presence among global businesses.</p>
<p>Family-controlled firms now make up 19% of the companies in the Fortune Global 500, which tracks the world's largest firms by sales. That is up from 15% in 2005, according to new research by McKinsey, a consulting firm (which defines such firms as ones whose founders or their families have the biggest stake, of at least 18%, plus the power to appoint the chief executive). Since 2008 sales by these firms have grown by 7% a year, slightly ahead of the 6.2% a year by non-family firms in the list. McKinsey sees these trends continuing for the foreseeable future.</p>
<p>This is largely because of rapid growth in big developing economies where family ownership is the norm among large businesses. Since 2005 the countries that have most increased their share of the Fortune Global 500 are Brazil, China, Russia, South Korea and Taiwan. By 2025, McKinsey forecasts, there will be more than 15,000 companies worldwide with at least $1 billion in annual revenues, of which 37% will be emerging-market family firms. In 2010 there were only 8,000 firms worldwide of this size, and only 16% of them were family-controlled and from emerging markets.</p>
<p>Around 85% of $1 billion-plus businesses in South-East Asia are family-run, around 75% in Latin America, 67% in India and around 65% in the Middle East. China (where the proportion is about 40%) and Sub-Saharan Africa (35%) stand out for their relatively low share of family firms, because in both cases many large firms are state-owned.</p>
<p>However, even in the rich world, big family firms are defying expectations of their demise. The tendency for founders and their heirs to abandon control to faceless institutional shareholders seems to have reached a limit. Of the American firms in the Fortune Global 500, 15% are family ones, only slightly less than in 2005. Among them is the world's largest family firm, Walmart, in which the children of the late founder, Sam Walton (pictured, third from left) are still big shareholders. His eldest son, Rob, is the chairman, another son, Jim, is also on the board and their sister, Alice, also inherited a huge stake. In Europe, 40% of big stockmarket-listed companies still have a controlling family.</p>
<p>Until recently many emerging economies lacked the large, liquid capital markets that rich countries enjoy. So local firms could not rely on them to provide funds for expansion, and depended instead on founding families reinvesting their profits. As such firms' access to domestic and global stock and bond markets continues to improve, it is possible to imagine this situation changing; family owners could seize the opportunity to make a lucrative exit, as happened for a time in the rich world.</p>
<p>However, one reason why the experts' predictions of 50 years ago have proved wrong is that stockmarkets and regulators have been so accommodating in letting founding families retain a fair degree of control despite selling large stakes to outside investors. One way they have done so is through special classes of shares--a trend that has lately featured in a number of technology-firm flotations: who knows, perhaps in future Facebook will be controlled by the Zuckerberg dynasty and Google by the Page and Brin clans.</p>
<p>Investors have accepted such arrangements as the price of getting a slice of these firms' profits, but they rarely like them. Some institutional investors were unhappy, for example, when a deal struck years ago by her father allowed Ms Botín to succeed him in the chair at Santander shortly after his death in September, even though the family owned only 2% of the bank.</p>
<p>Besides being able to access capital markets without losing control, there are at least four other reasons why so many big firms have defied expectations and stayed under family control. One is that they are often the product of a superbly talented entrepreneur like Sam Walton. While such founders are alive and on form, the combination of their abilities and the freedom they have as controlling shareholder to run by their own rules often gives them a strong competitive advantage. Even after they are gone, their heirs can keep up the firm's success, simply by continuing to follow the founder's successful principles.</p>
<p>Whether private or public, family firms also tend to take a longer-term perspective. As Heinrich Liechtenstein of IESE business school in Barcelona observes, this is true both relative to non-family-controlled public companies, which tend to be obsessed with meeting the demands of investors to maximise short-term profits, and companies owned by private-equity firms, which although able to take a longer view than public firms must still cater to investors who want to sell up for a juicy profit within a few years.</p>
<p>Family firms are also less likely to load up on debt. An obvious exception, and an illustration of why most family capitalists fear debt, is the recent collapse of Espírito Santo. Massive debts turned the family-owned Portuguese financial conglomerate into one of Europe's largest corporate failures, ending in a state bail-out of the bank at the group's core. A reluctance to borrow may limit growth in good times, but it can make family firms more resilient when the going is tough.</p>
<p>They also tend to have better labour relations, according to studies by Holger Mueler and Thomas Philippon of New York University's Stern business school. This may be because workers are readier to believe promises that they will be rewarded for delivering in the long run, if such pledges are made by founding families rather than outsider bosses who may be gone in a few years. And in situations where businesses have to push through efficiency improvements, family owners may be more willing to act firmly when dealing with labour unions, because of their significant stake in the business, than salaried outsider bosses, the studies suggest. These are advantages especially in countries with generally hostile relations between workers and management, say the two economists.</p>
<p>Overall, those family firms that get big tend to have a superior corporate culture to their non-family peers, reckons Heinz-Peter Elstrodt of McKinsey. The firm has applied its index of "organisational health" to 114 family firms and around 1,200 other large companies. Family firms scored significantly higher on their culture, worker motivation and leadership, though they lagged slightly on innovation and being too internally focused.</p>
<p>The presence of a founding family seems to be good for a business's image. In a recent survey in 12 big economies by Edelman, a (family-run) PR firm, 73% of people said they trusted family-owned companies, compared with 64% who trusted publicly-traded companies in general, and 61% for both private-equity-owned and state-owned firms. This is no doubt why S.C. Johnson, a household-products maker, has as its slogan, "A Family Company".</p>
<p>There is evidence of a positive "family effect" on financial performance, according to a new study by Cristina Cruz Serrano and Laura Nuñez Letamendia of IE business school in Madrid. They calculated that EUR1,000 invested in 2001 in a portfolio of publicly traded family firms in Europe, weighted by market capitalisation, would have generated EUR3,533 by the end of the decade, compared with EUR2,241 from a portfolio of non-family firms. The difference is equivalent to five percentage points of extra return per year.</p>
<p>All this may be why, for all his professed disapproval of the Lucky Sperm Club, Mr Buffett wants his son, Howard (pictured, left, with his son, Howard Warren Buffett, an academic) to succeed him as chairman, and guardian of the firm's culture. The elder Mr Buffett is such a big fan of family firms that he likes to buy them: in October he bought Van Tuyl Group, America's largest family-owned car dealership chain. As with LVMH and Kering, two family-run French luxury-goods giants that have bought a number of European fashion houses, Mr Buffett's spiel to founding families is: if you want to sell up but want your business's culture preserved, it will be in safe hands with us.</p>
<p>Ultimately, whether big family firms will continue to defy expectations of their demise will depend on their ability to negotiate the rocks on which family businesses have a unique propensity to founder. One is the risk of squabbles among relatives. This summer, for example, a family feud nearly destroyed Market Basket, an American supermarket chain. Workers went on strike when their popular boss, Arthur T. Demoulas, was fired at the behest of his cousin, Arthur S. Demoulas. Disaster was only averted after pleas to the family by the governors of Massachusetts and New Hampshire.</p>
<p>No issue is potentially more toxic than the transition from one generation of a family to the next. In India, an epic feud began in 2002 after Dhirubhai Ambani, the founder of Reliance Industries, died without naming a sole heir. The battle between his sons, Mukesh and Anil, eventually led to the group being split in two.</p>
<p>In some cases even strong and successful firms can implode soon after a generational succession, which is why so many countries have some variation of the saying, "from shirtsleeves to shirtsleeves in three generations" (clogs to clogs, kimono to kimono). Edelman's survey found that the public's trust in family firms falls once the baton is passed from the founder to the next generation. Alarmingly, a study of 2,400 family firms in 40 countries published last month by PwC, a consulting firm, found that only 16% of them had a "discussed and documented" succession plan in place.</p>
<p>The families that do best are those which understand that their interests and those of their business can diverge, and put in place processes to manage the consequences of these differences, says John Davis of Harvard Business School, the author of several books about family firms.</p>
<p>Some families are adept at training the next generation to work in the family firm. Illycaffé, a coffee-maker now run by a third-generation Illy family member, has a pact setting the rules for when an Illy can go into the business: competence for the job is paramount. Sweden's Wallenberg business empire is run by a fifth generation of the founding family: two cousins, Jacob and Marcus Wallenberg, were groomed from an early age to run the group's industrial and financial sides respectively.</p>
<p>However, sometimes children do not want to join the family business, or turn out not to have inherited the entrepreneurial genes of the founder. It may then be in the best interests of the firm for a professional to run it, rather than a reluctant or incompetent scion, even if the family retains some control. Letting professionals take over can make a lot of sense. Talented managers are more likely to join a firm where there is a chance of getting to the very top, or at least where they do not have to work under a useless heir. Some 40% of the family firms interviewed by PwC said that professionalising their business was among the main challenges they face in the next five years.</p>
<p>Even when they have agreed to let an outside manager run their businesses, families sometimes find it hard to keep their hands away from the wheel. Luxottica, an Italian maker of sunglasses, was well run by a professional chief executive for ten years, but recently lost him, and six weeks later his successor, reportedly following differences of opinion with the founder, Leonardo Del Vecchio, and his wife, Nicoletta Zampillo.</p>
<p>Even when independent outsiders are brought in to serve on a family company's board, they can often fail to make the impact they should, notes Mr Davis. Outsiders often refuse to get involved in managing tensions within the family and assume their job is just to oversee the running of the business, when in reality they may be the last line of defence against a family breakdown destabilising the firm, he says.</p>
<p>In the rich world there is a strong contingent of firms which have demonstrated an ability to get the best out of being both family-controlled and professionally run. In some emerging markets, however, things are not so clear. Many of their big firms are still run by a founder with strong links to those in power, and only time will tell if they have what it takes to survive the passing of either the founder or the regime. However, the positive examples of Tata in India and Samsung in South Korea suggest that it is possible, even in places with a strong tradition of crony capitalism, for world-class, professionally run family firms to emerge.</p>
<p>As big emerging-market firms pass from the founders to their heirs, the challenge will be, as it has been in the rich world, to reconcile the family's needs and desires with the demands of running a successful business. They will need to learn that when it comes to company matters, as Michael Corleone put it in "The Godfather", that great study of a family firm, "It's not personal...it's strictly business."</p>
<p>Click <a href="https://subscriptions.economist.com/nwcd">here</a> to subscribe to The Economist</p>
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Companies Controlled By Founding Families Remain Surprisingly Important 

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.businessinsider.com/author/troy-wolverton">Troy Wolverton/Business Insider</a></span></p><p class="caption">Paul Daugherty, chief technology and <keyword id="94495" type="ENTERTAINMENT" weightage="60" keywordseo="Innovation">innovation</keyword> officer of Accenture, which is seeing rapid adoption of AI among its clients.</p></div><p></p></div></div></p><ul class="summary-list"><li>Artificial intelligence is the most important technology trend today, said Paul Daugherty, the chief technology and innovation officer at giant consulting firm Accenture.</li><li>Companies are adopting it more rapidly and broadly than any previous technology trend, he said.</li><li>It's being used to drive efficiency and to better tailor products for customers.</li><li>But many companies are unprepared for it or have unrealistic expectations, he said.</li></ul><p>Artificial intelligence, according to Paul Daugherty, is overhyped, many of the expectations for it are unrealistic, and most companies and their workers are unprepared for it.</p><p>At the same time, he says, it's the biggest and most important trend in technology today, will likely remain so for the next 10 to 20 years, and will profoundly change businesses around the world.</p><p>"We call it the alpha trend," Daugherty told Business Insider in an interview this week. He continued: "I don't want to be accused of hyping it more, but it is a big deal in terms of its impact."</p><p>Daugherty is in a position to know. He's the chief technology and innovation officer at Accenture, the giant consulting firm that counts more than three fourths of the Fortune Global 500 as its customers. As such, Daugherty leads the firm's effort to help clients identify, embrace, and integrate critical new technologies.</p><p>Every year, he and his team put together a list of the top technology trends in business. At the top of the list right now - and likely for many years to come - is AI, he said.</p><h2>AI is being adopted by companies in every kind of business - that's different than other tech</h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Princess Cruise Lines</span></p><p class="caption">Carnival Cruise Lines is using AI and machine learning to better serve guests aboard its ships.</p></div><p></p></div></div>AI is remarkable for lots of reasons, but among them is how it's being adopted and by whom, Daugherty said. With previous trends, such as e-commerce or mobile apps or the cloud, the technology tended to be adopted quickly by only a handful of companies or a smattering of industries or in only a few countries around the world, he said. The companies on the cutting edge of the mobile phone trend tended to be banking and financial services firms, for example, while retailers tended to be the first ones to adopt e-commerce.</p><p>What's changed with AI is just how rapidly and broadly companies and industries globally are adopting it and related technologies, such as machine learning and automation, Daugherty said. Accenture has never seen interest among its clients or business grow this quickly with any other technology trend, he said. And instead of the interest being focused on a particular industry, it ranges from everything from the retail segment to utilities, he said.</p><p>"What we're seeing with AI is very different. It's very broad, immediate adoption," he said. He continued: "It's the fastest growing technology trend we've ever seen."</p><h2>But there are still some unrealistic expectations</h2><p>Utility companies are using machine learning and AI to try to become more efficient and get the most out of their production and distribution facilities, he said. Banks are using such technologies to try to better and more easily flag suspect transactions.</p><p><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"><p class="source"><span>Business Insider</span></p><p class="caption">Online clothing company Stitch Fix uses AI to help personalize clothes for its customers.</p></div><p></p></div></div>Online clothing seller Stitch Fix is using AI to try to better understand its customers fashion preferences and to better predict what clothes they'll want next, he noted. Meanwhile, Carnival Cruise Lines has put in place a system to track the activities customers take part in and the stops they visit to better tailor its offerings.</p><p>"It's remarkably broad in terms of the adoption and going global very quickly," Daugherty said. He continued: "You see companies looking at how to better optimize their assets and create new revenue streams."</p><p>To be sure, there are likely to be hitches and hiccups in the race to embrace AI. Many companies have unrealistic expectations of what the technology will be able to do for them, he said. And many of them are unprepared for the technology.</p><p>In a recent study where Accenture surveyed executives at some 1,500 organization, some 65% of those polled said their workforces weren't yet ready to work with AI and related technologies. But only 3% said their companies were investing in training their employees to use them.</p><p>"It's an area that most companies are behind on," Daugherty said, continuing, it's "a striking disconnect."</p><h2>Now read:</h2><ul><li><a href="https://www.businessinsider.com/bain-survey-finds-hr-departments-at-large-companies-are-embracing-ai-2018-10?r=tgw">These charts show how pumped up HR departments are about AI - even if many of them are still relying on paper documents</a></li><li><a href="https://www.businessinsider.com/phil-libin-says-ai-developers-shouldnt-focus-on-negative-outcomes-2018-9?r=tgw">The best way to avoid killer robots and other dystopian uses for AI is to focus on all the good it can do for us, says tech guru Phil Libin</a></li><li><a href="https://www.businessinsider.com/amazon-alexa-sports-questions-nfl-2018-9">Amazon's Alexa is getting smarter about sports - it can tell you the odds of the next NFL game and give you an update on your favorite teams</a></li><li><a href="https://www.businessinsider.com/world-economic-forum-kay-firth-butterfield-ai-2018-8?r=tgw">This former judge is heading the World Economic Forum's approach to AI - here's why she thinks regulation is unlikely, and what should be done about AI instead</a></li></ul>     <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/lg-v40-thinq-5-camera-smartphone-2018-10">This smartphone has 5 cameras - here's what it's like</a></h3>        <div>                    </div>    </div>

The head of tech at one of the world's largest consulting firms says the way businesses are piling into AI is different than anything they've ever seen

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Hollis Johnson</span></p></div><p></p></div></div>RON Transatlantic, the investment firm led by George Hornig, and HNA Capital, a part of Chinese conglomerate HNA, are taking a majority stake in SkyBridge Capital, the investment firm founded by Trump adviser Anthony Scaramucci.</p><p>Scaramucci <a href="http://www.businessinsider.com/anthony-scaramucci-says-he-sold-his-firm-2017-1">announced earlier Tuesday</a> at the World Economic Forum that he was about to sell the firm, but didn't name the buyer.</p><p>Hornig is the former chief operating officer at<span> Credit Suisse Asset Management and PineBridge Investments. He was also a <a href="http://nypost.com/2007/04/10/i-am-a-nyer-obama/">key fundraiser for outgoing US President Barack Obama</a>. </span></p><p><span>HNA Capital is a part of HNA Group, a Chinese conglomerate with over $90 billion in assets. </span></p><p><span>SkyBridge is a fund of hedge funds firm, meaning it invests in other hedge funds. It was founded in 2005 by Scaramucci and has about $12 billion in assets under management, catering to rich dentists and doctors who wouldn't otherwise be able to invest in hedge funds. </span></p><p><span>SkyBridge is known to have lower investment minimums than direct hedge funds.</span></p><p><span>The sale comes at a tough time for the fund of hedge funds industry, which has been criticized for fees that are often higher than the costs for direct hedge funds. Aurora Investment Management and Carlyle Group's DGAM shut down their operations last year. </span></p><p><span>The first half of 2016 saw the biggest outflows of assets from the fund of hedge funds industry in seven years, according to the <a href="http://www.hedgefundintelligence.com/article/3583199/">InvestHedge Billion Dollar Club</a>. SkyBridge's assets fell by $1.1 billion over that period, to $11.7 billion, according to the ranking.</span></p><p><span></span>President-elect Donald Trump last week named <span>Scaramucci</span> as an assistant to the president. Scaramucci served as an advisor to Trump during his campaign and had said earlier this month that he had received bids for SkyBridge.</p><p>Here's the statement:<strong> </strong></p><p style="padding-left: 30px;"><strong>New York, NY (<span data-term="goog_542051890"><span>January 17, 2017</span></span>) - </strong><a href="http://www.skybridgecapital.com/" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=http://www.skybridgecapital.com/&amp;source=gmail&amp;ust=1484755646443000&amp;usg=AFQjCNHNcaftry7f11ZHnMkwWKIQz1BT5A">SkyBridge Capital</a> ("SkyBridge"), a leading global alternative investment firm, announced today that it has signed a definitive purchase agreement with RON Transatlantic EG ("RON Transatlantic") and HNA Capital (U.S.) Holding ("HNA Capital U.S.") for a majority stake in the firm.  Financial terms of the transaction were not disclosed. </p><p style="padding-left: 30px;">SkyBridge's investment offerings include commingled funds of hedge funds products, customized separate account portfolios, hedge fund advisory services and a long-only mutual fund.  SkyBridge managed or advised approximately $12 billion in assets as of November 30, 2016.  SkyBridge has an exceptional retail distribution platform which brings its alternative and other asset management products to the mass affluent investor channel.  The firm also hosts the SALT Conference, one of the world's leading thought leadership and investment forums that convenes global leaders across business, finance and public policy to discuss economic trends, geopolitical events and investment strategies.</p><p style="padding-left: 30px;">SkyBridge will continue to be led by its current senior management team and its full investment team will remain intact.  SkyBridge founder, Anthony Scaramucci, will step down from his role as co-managing partner and will no longer be affiliated with SkyBridge or SALT, effective immediately. </p><p style="padding-left: 30px;">The SALT Conference will be spun out as a standalone entity.  This year's SALT Conference, scheduled to be held <span data-term="goog_542051891"><span>May 16-19, 2017</span></span>, in Las Vegas, will continue as planned. </p><p style="padding-left: 30px;">"It has been an honor and privilege to help build SkyBridge and work alongside some of the most talented individuals in the asset management industry who day in and day out demonstrate an unrelenting passion and commitment to helping our clients fulfill their long-term financial goals," said Anthony Scaramucci.  "While I am moving on to a new chapter in my career, I am truly excited about what the future holds for SkyBridge and the opportunities that RON Transatlantic and HNA Capital U.S. will bring to serving the firm's clients.  SkyBridge and SALT are in great hands and will continue to thrive."</p><p style="padding-left: 30px;">George Hornig, CEO of RON Transatlantic Financial Holdings, and former Chief Operating Officer of Credit Suisse Asset Management and PineBridge Investments, will be joining the board of SkyBridge to work with its senior management on initiatives to grow SkyBridge's product offerings and distribution platforms.  "We are very excited for the opportunity to continue to expand the business that Anthony and his team have created and built," said Hornig.  "Now, together with the world-class resources and networks of HNA and Transatlantic, we feel the "sky" is the limit for how far we can take SkyBridge." </p><p style="padding-left: 30px;"><em>"</em>SkyBridge is a unique and innovative investment platform with a powerful brand that is well positioned to provide retail investors and their financial advisors with one-stop access to sophisticated alternative investment products," said Guang Yang, CEO of HNA Capital U.S.  "Our investment in SkyBridge is an important step in HNA Capital's strategy to build a global asset management business.  We look forward to working with the world-class management team of SkyBridge and our partners at RON Transatlantic to accelerate SkyBridge's long-term growth and development."</p><p style="padding-left: 30px;">The transaction is expected to close in the second quarter of 2017.</p><p style="padding-left: 30px;"><strong>About RON Transatlantic</strong></p><p style="padding-left: 30px;">RON Transatlantic is a diversified holding company with interests in the financial services, logistics, energy and brewing/beer sectors. </p><p style="padding-left: 30px;"><strong>About HNA Capital U.S.</strong></p><p style="padding-left: 30px;"><span>HNA Capital U.S. is the New York-based subsidiary of HNA Capital, the financial services unit of HNA Group, </span><span>a Fortune Global 500 company focused on tourism, logistics and financial services.  A full service financial solutions provider, HNA Capital includes a diverse set of global businesses in equipment leasing, insurance, investment banking, securities and credit services.  HNA Group is a global company with over $90 billion of assets, $30 billion in annual revenues and an international workforce of nearly 200,000 employees, primarily across North America, Europe and Asia. For more information, please visit</span><span> </span><a href="http://www.hnagroup.com/" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=http://www.hnagroup.com/&amp;source=gmail&amp;ust=1484755646443000&amp;usg=AFQjCNHRofBW4BvOfODdUE0mm_VgYpBKiQ"><span>www.hnagroup.com</span></a>.</p><p style="padding-left: 30px;"><strong>About SkyBridge Capital</strong></p><p style="padding-left: 30px;">SkyBridge Capital is a global alternative investment firm with approximately $12 billion in assets under management or advisement as of November 30, 2016. Addressing every type of market participant, SkyBridge's investment offerings include commingled funds of hedge funds products, customized separate account portfolios, hedge fund advisory services and a long-only mutual fund.  The firm is headquartered in New York and has offices in Palm Beach Gardens, London and Seoul.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/money-save-invest-401k-millionaire-2016-12">How much money you need to save each day to become a millionaire by age 65</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="l3Y3JoODE6AznwShkXttejURmRE6JOzK" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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