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Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries and <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="153" meta.entityid="Tata Group">Tata Group</keyword> have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list. TIME listed Reliance in the 'Titans' category (one of the five categories under which the companies were divided, other being Leaders, Disrupters, Innovators, and Pioneers). Tata was listed in 'Titan's' category while Serum under 'Pioneers'. "Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate -- which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said. Now led by Dhirubhai's son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia's richest man, it said. The publication went on to stated that in February, Reliance came out on top in a fiercely competitive race to dominate India's burgeoning streaming market by striking a USD 8.5 billion merger deal with Disney's India business. "The deal will bring together more than 100 television channels and give the combined group around a 31 per cent share of India's streaming market compared to rivals Netflix and Amazon Prime with 8 per cent each," according to analytics firm Comscore. Reliance has revolutionised several economic sectors in the world's most populous country by making world-class products and services available at affordable prices with multiple innovations. Under Mukesh Ambani, the firm's telecom arm Jio revolutionised India's digital landscape and drove digital inclusion on an unprecedented scale with the most affordable mobile data tariffs in the world. It set up the world's largest single location refining complex. Reliance Retail is ranked among the top 100 retailers globally and in FY24 it registered 1.06 billion footfalls across its 18,800+ stores (67 per cent of which are in small towns and villages). Reliance is investing USD 10 billion in building the most comprehensive ecosystem for new energy and new materials in India and has set an ambitious goal to reach net-zero carbon by 2035. TIME described Serum as the world's biggest vaccine maker, churning out billions of vaccines. The company makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV. "Serum's CEO Adar Poonawalla says the company's success can largely be chalked up to its private ownership. Not being beholden to shareholders allows it to keep vaccine prices low (the R21 will cost USD 4 a shot)," the publication said. Tata Group, it said, was founded in 1868 and has a vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels. "But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said. As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips. In 2023, it became the first Indian company to assemble iPhones, and is building another plant, it said, adding that in September, Tata announced a partnership with Nvidia to develop an AI cloud in India. "And this year, it announced plans for the country's first major semiconductor manufacturing facility. The moves seem to be paying off: in February, Tata's combined market capitalisation reached a whopping USD 365 billion, more than the entire economy of India's neighbour and rival, Pakistan," it added. This is the fourth edition of annual TIME100 Most Influential Companies list, highlighting companies making an extraordinary impact around the world. To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then, TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward. SEE ALSO:<a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank">Truecaller can now detect if the caller is using AI – How to use it to prevent AI call scams</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank">India’s T20 World Cup team, matches and everything you need to know</a>

Reliance, Tata on TIME's list of world's most influential companies

Foreign Institutional Investors (FIIs) have been rapidly exiting Indian markets, and this high-speed exodus does not look like it will stop anytime soon. In October 2024, FIIs withdrew Rs 1,14,445.89 crores from Indian markets. Yesterday, FIIs withdrew $770.67 million from the markets, with equity outflows of $440.86 million and debt outflows standing at $327.44 million across various categories. Per NSDL data, hybrid outflows amounted to $2.31 million. While this may sound dissuading at first, a recent SBI report underlined that FIIs still hold a massive $ 18.241 billion in Indian markets. So far, FY25 has seen FII inflows worth $ 8.924 billion. However, the situation may quickly turn alarming as well, given that FII holdings in Indian equities have already come down to a 12-year low. Says Anirudh Garg, Partner and Fund Manager at Invasset PMS, "The current valuation of Indian stocks, trading at around 24 times expected earnings, appears high compared to Chinese stocks, which are at approximately 10 times. Economic concerns, including weak corporate earnings and declining consumer demand, further exacerbate this situation. Additionally, renewed fears of inflation and potential monetary tightening by central banks have led FIIs to withdraw from the Indian market." In the meantime, DIIs (domestic institutional investors) are stepping in big time. During October 2024, DIIs infused Rs 1,07,254.68 crore in Indian markets. In November so far, DIIs have been keeping the fund momentum going, infusing Rs 12,265.74 crore in India, while FIIs have offloaded Rs 16,445.49 crore this month. But despite this strong uptick, SBI's recent report suggests that consumer confidence in India remains below 100, signaling muted positivity and optimism in the economy. While household consumption is gradually recovering, it grew at 4% last year, much below the 7% levels recorded pre-pandemic. <h2>FII share in <keyword id="20868945" type="General" weightage="20" keywordseo="NSE-listed-companies" source="keywords">NSE-listed companies</keyword> takes a dip, DII stake rise </h2>FIIs share in NSE-listed companies stood at 15.98% in October, with assets under their custody in the equity segment coming to Rs 71.08 lakh crore last month. In September, this stood at Rs 77.96 crore. Experts suggest that this is likely to continue for some time to come. Mutual funds, on the other hand, saw their share in NSE-listed companies hit a record high of 9.58%, as opposed to their 9.32% stake in September 2024. FIIs turned net sellers in the debt segment as well in October, dumping $771 million in Indian markets. This comes after 2 consecutive months of healthy inflows in this segment in August and September 2024, where the figures stood at $2,806 million and $2,295 million, respectively.

FII stake in Indian equities dips to a 12-year low

<ul class="summary-list"><li>Andreessen Horowitz has released its third Top 100 Gen AI Consumer Apps report.</li><li>OpenAI's ChatGPT leads both web and mobile lists, with new competition emerging.</li></ul>Looking for a new AI app to try out or curious to see which ones are showing promise?Well, the good news is Andreessen Horowitz <a target="_blank" class="" href="https://a16z.com/100-gen-ai-apps-3/">just released</a> its third installment of Top 100 Gen AI Consumer Apps, which rounds up the most-used apps in the space. It's an excellent way to find some lesser-known apps that are gaining traction — and see how the big players in the space are stacking up against each other.Every six months, the venture capital firm ranks the top 50 AI-first web products by unique monthly visits and the top 50 AI-first mobile apps by monthly active users.Unsurprisingly, <a target="_blank" class="" href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">OpenAI's ChatGPT</a> remains king, topping both lists for the third time.However, other AI chatbots are stiffening the competition. <a target="_blank" class="" href="https://www.businessinsider.com/perplexity-ai-forbes-wired-explained-2024-6">Perplexity</a> and Claude both broke into the top five for web products, jumping from 7th and 10th to 3rd and 4th, respectively.Apps like Microsoft Edge and Photomath remained in 2nd and 3rd place, respectively, and <a target="_blank" class="" href="https://www.businessinsider.com/characterai-artificial-intelligence-chatbot-mimics-mario-elon-musk-2023-7">Character.AI</a> rose from 3rd place to replace Gemini in 2nd for web products.While the AI giants continue to battle it out, some newer rising stars are also making inroads — and getting people creative.Of the 12 new entrants to the list, 58% are <a target="_blank" class="" href="https://www.businessinsider.com/ai-tools-changing-content-creators-work-2024-1">creative tools</a> focused on content generation or editing images, videos, music, speech, and more, according to the study. These included Luma (14th), which can create realistic 3D images; Viggle (21st), an AI-powered animation tool that can make any character move via text prompts; and AI art generator SeaArt (29th).<div type="image" title="A screenshot of Suno's web app." height="1572" width="2414" msid="112718871" hostid="261" sizebytes="164746"></div>Music has also been having <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-innovating-music-tools-artists-labels-creators-2023-3#moises-makes-it-easier-for-users-to-learn-a-new-instrument-8">its AI moment</a>. Music generator app Suno — which lets you easily make an AI song based on a text prompt — made the biggest jump for creative tools, rising from 36th to 5th in web products. Newcomer Udio, another generative model that produces songs via text prompts, ranked 33rd.Content editing for images and video was also a huge hit for mobile rankings, with breakouts from tools like Meitu (9th), SNOW (30th), and Adobe Express (35th).Users are not only into creating but also dating. AI-powered dating app <a target="_blank" class="" href="https://www.businessinsider.com/rizz-dating-app-ai-analyzes-text-screenshot-conversations-advice-2024-6">RIZZ</a> made the mobile list for the first time, ranking 49th. Aesthetics apps like LooksMax AI and Umax were also new entrants, ranking 43rd and 44th, respectively.You can see the full list Andreessen Horowitz's <a target="_blank" class="" href="https://a16z.com/100-gen-ai-apps-3/">website.</a>

Andreessen Horowitz just published its list of the 100 most-used AI apps. Check out which ones are rising up the rankings. 

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/resume-gap-how-to-explain-why-job-search-career-linkedin-2024-8">LinkedIn</a> has seen a 29% increase this year in users who list their preferred pronouns.</li><li>The platform added a pronoun feature in March 2021, reflecting societal gender shifts.</li></ul>Detractors might consider it woke, but more professionals are including their <a target="_blank" href="https://www.businessinsider.com/how-to-respect-peoples-pronouns-and-why-its-important-2020-10">preferred pronouns</a> on their LinkedIn profiles.Globally, some 38 million people on the platform now list their pronouns on their profiles, a 29% increase since January, a LinkedIn spokesperson told Business Insider.LinkedIn added space for users to include their preferred pronouns in their profiles in March 2021. The spokesperson said that, since then, the platform has seen a "steady uptick" in adoption.Growth in the number of people who display their pronouns comes as some employers are downplaying or retreating from their embrace of diversity, equity, and inclusion efforts. Big-name companies, including <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://apnews.com/article/lowes-dei-robby-starbuck-conservative-522fef16cf0dc77450524542d21016ef">Lowe's</a>, <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/john-deere-ditches-dei-policies-conservative-activists-lgbtq-pride-pronoun-2024-7">John Deere</a>, and <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/companies-cutting-dei-activist-backlash-harley-davidson-deere-tractor-supply-2024-8">Harley-Davidson</a>, have reduced or scrapped their DEI efforts following criticism from a conservative activist.To some degree, the increased use of preferred pronouns on LinkedIn signals that the practice is becoming an unremarkable part of office life, researchers who have written about gender issues told BI.The pronoun proliferation on LinkedIn, which has some 1 billion users, comes as it's become more common to include such information in email signatures and on business cards. Displaying pronouns has also remained a <a target="_blank" href="https://www.businessinsider.com/elon-musk-scott-kelly-nasa-astronaut-lgbtq-gender-pronouns-fauci-2022-12?utm_campaign=sf-bi-main&amp;utm_source=facebook.com&amp;utm_medium=social">political flash point</a>.<h2 id="5e601c64-2d3d-42a3-b416-ded1bbd06343">An easy decision for some</h2>Michael West, who works on issues of public health and social policy in Australia, wrote in a recent LinkedIn post about <a target="_blank" href="https://www.linkedin.com/posts/michael-west-000a9126_pronouns-small-words-that-make-a-big-impact-activity-7252113124353351681-6SMM/?utm_source=share&amp;utm_medium=member_desktop">using he/they pronouns</a>."Articulating my pronouns publicly also creates space for others to reflect on, discuss and consider what feels best for them," West wrote. He went on to add that "stating your pronouns is a small but powerful action that can make a significant positive difference to many other people."A survey conducted on behalf of LinkedIn around the time the platform added the pronoun feature found that 70% of job seekers believed it was important that recruiters and hiring managers <a target="_blank" href="https://news.linkedin.com/2021/march/linkedin-and-microsoft-skills-commitment">knew their gender pronouns</a>. Seventy-two percent of hiring managers agreed.The online survey, conducted in late February and early March 2021, involved about 2,100 adult job seekers in the US and some 1,000 hiring managers.<h2 id="8bf37a6e-b92b-4fb9-bec0-0b405596210f">A tool for efficiency</h2>Kathryn Bond Stockton, a distinguished professor of English at the University of Utah, told BI that even for people who might identify as nonbinary, trans, or genderqueer, pronouns aren't an ideology or "an identity in and of themselves."Instead, she said, many people have come to view preferred pronouns in workplace settings as a navigational tool."A lot of people are now seeing the acts of listing and respecting pronouns in that light — as a type of kind, efficient way to refer to each other instead of having people have to ask that question," Stockton said.She said that having to specify them in professional settings should remain optional and not something prescribed by employers. However, respecting what people do specify should be required, she said. Stockton identifies as genderqueer yet said that, in her case, she doesn't care what pronouns others use to describe her."They're all equally right or wrong for my life trajectory. So, you know, have at it," Stockton said. She said that because most people, understandably, have strong feelings about their pronouns, others should respect that.Stockton added that many of us already use "they" in a singular way colloquially, so it's not as difficult to use alternate pronouns for others as some people might fear.She said that in her experience, the people most likely to protest the rise of people sharing their preferred pronouns would "potentially feel the most offended if their pronoun was not respected."Ultimately, Stockton said that in the workplace or other settings, if people don't want to specify their own pronouns, that should be respected, too.The overall reaction to the pronoun feature has been positive, LinkedIn's spokesperson said. The spokesperson said the platform wasn't able to share insights at this time on industries, geographies, and other characteristics where users tend to display their preferred pronouns most often.Minjae Ormes, VP of marketing at LinkedIn, wrote in a <a target="_blank" class="" href="https://www.linkedin.com/blog/member/career/redefining-what-it-means-to-be-professional">2021 post</a> that a person's profile is "more than just a career highlight reel."Ormes added that letting users add their preferred pronouns "is another form of self-identity and -expression that plays a fundamental role in acknowledging and celebrating what makes us strong together."<h2 id="d2bca7c9-cc7d-42aa-8f61-489344f2beae">We don't always use pronouns</h2>Davina Cooper, a research professor in law and political theory at King's College London, told BI that the increase in the number of people posting their <a target="_blank" class="" href="https://blogs.lse.ac.uk/gender/2023/01/30/4784/">preferred pronouns</a> on a platform like LinkedIn or in email signatures partly reflects societal shifts toward recognizing diverse gender identities.Cooper, who said she doesn't indicate preferred pronouns, said that for some people sharing their pronouns can signal support for marginalized groups.Yet, in practical terms, listing pronouns might not have that much of an impact in something like an email correspondence, she said. That's because if she's writing to someone, she's not going to address the person in the third person."So, in a lot of contexts, it is more about someone saying something about where they're situated within a debate," Cooper said. "When they say 'she/they,' they're communicating a political commitment, including one of solidarity."She said she respects the importance of people "feeling recognized" and the value of developments that shift traditional understandings of gender. "This allows societies to evolve and to have shared conversations about what gender should be about," Cooper said.She said that, ultimately, while some people find comfort in sharing their preferred pronouns, what that says about a person might be limited."At a certain point, is it just like knowing someone's name?" Cooper said. "It's, 'I'm John,' but what it means for me to be John you can't apply to anyone else."

LinkedIn has seen an increase in users who list preferred pronouns despite 'woke' backlash

From Ajay Banga to Bhavish Agarwal – Nine Indians make it to 'Time 100 Climate' list

New York [US], April 5 (ANI): The <keyword id="10561122" type="General" weightage="20" keywordseo="bird-flu-pandemic" source="Orion">bird flu pandemic</keyword> with the potential to be "<keyword id="21202249" type="General" weightage="20" keywordseo="100-times-worse" source="Orion">100 times worse</keyword> than COVID" may be on the horizon after a rare human case was discovered in Texas, experts have warned, the New York Post reported on Thursday. The <keyword id="21202246" type="General" weightage="20" keywordseo="H5N1-avian-flu" source="keywords">H5N1 avian flu</keyword> has spread rapidly since a new strain was detected in 2020 affecting wild birds in every state, as well as in commercial poultry and backyard flocks. But the recent cases detected in mammals, with cattle herds across four states becoming infected and on Monday, federal health officials announced that a dairy worker in Texas caught the virus. "This virus [has been] on the top of the pandemic list for many, many years and probably decades," Suresh Kuchipudi, a <keyword id="95867" type="General" weightage="100" keywordseo="bird-flu" source="Orion">bird flu</keyword> researcher from Pittsburgh, said at a recent panel discussing the issue, the New York Post reported citing the Daily Mail. "And now we're getting dangerously close to this virus potentially causing a pandemic." He noted that the <keyword id="565908" type="General" weightage="20" keywordseo="H5N1-virus" source="Orion">H5N1 virus</keyword> has already been detected in species throughout the world and "has shown the ability to infect a range of mammalian hosts, including humans." "So therefore, in my view, I think this is a virus that has the greatest pandemic threat [that is] playing out in plain sight and globally present," Kuchipudi said. John Fulton, a pharmaceutical industry consultant for vaccines and the founder of Canada-based BioNiagara who organized the meeting, also expressed his concerns, the Mail reports, the New York Post reported. "This appears to be 100 times worse than COVID -- or it could be if it mutates and maintains its high case fatality rate," he said. "Once it's mutated to infect humans, we can only hope that the [fatality rate] drops." Around 52 per cent of humans who have contracted H5N1 since 2003 have died, according to the World Health Organization. For comparison, COVID currently kills less than 0.1% of those it infects -- though at the start of the pandemic, the fatality rate was around 20 per cent. Symptoms of the bird flu are similar to those of other flus, including cough, body aches and fever, the New York Post reported. Some people may not develop noticeable symptoms, but others can develop severe, life-threatening pneumonia. The dairy worker in Texas who was infected has reported "eye redness (consistent with conjunctivitis)" as their only symptom, the Centers for Disease Control and Prevention noted. "The patient was told to isolate and is being treated with an antiviral drug for [the] flu," the CDC said. The agency and "the whole US government is taking this situation very seriously," CDC Director Mandy Cohen told the Washington Post. She maintained that the virus does not pose much of a risk to the general public, noting that the dairy worker was in direct contact with infected cattle, and the US Department of Agriculture has said there are currently no changes that would make it more transmissible to humans. "While cases among humans in direct contact with infected animals are possible, this indicates that the current risk to the public remains low," the department said in a statement over the weekend. But the fact that the virus has been found in cattle could mean it is starting to mutate, Cohen told the Washington Post. "We had not seen avian flu in cattle prior to last week. That is new," she said. "It is a reservoir for [the] virus to circulate and potentially change." If the virus does mutate enough to infect humans, it could spread rapidly, the European Food Safety Authority warned on Wednesday, according to Fox News. "If avian A [H5N1] influenza viruses acquire the ability to spread efficiently among humans, large-scale transmission could occur due to the lack of immune defences against H5 viruses in humans," the Food Safety Authority said. To prevent any potential spread, the US is already testing components used to create a vaccine for the virus, and two candidate vaccine viruses appear to be well-matched to protect against H5N1, the Washington Post reports. White House press secretary Karine Jean-Pierre also said the Biden administration is monitoring the threat. "We take the health and safety of the American people seriously," she said at her briefing on Wednesday. "It is very important to this president. Our top priority is to keep communities healthy, safe and informed."

Scientists warn of bird flu pandemic that could be '100 times worse' than COVID after rare human case found in US

<ul class="summary-list"><li>Jim Walton's net worth just passed $100 billion for the first time.</li><li>The Walmart heir's wealth has surged by $28 billion this year due to the retailer's soaring stock.</li></ul>Jim Walton is the newest member of the $100 billion club.The Walmart heir's personal fortune reached 12 digits for the first time on Wednesday, ranking him 13th on the Bloomberg Billionaires Index. He's now joined an <a target="_blank" class="" href="https://www.businessinsider.com/wealth-billionaires-musk-bezos-zuckerberg-net-worth-jensen-huang-waltoans-2024-8">elite group of centibillionaires</a> that includes <a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a>, <a target="_blank" class="" href="https://www.businessinsider.com/jeff-bezos-life-career-education">Jeff Bezos</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/how-warren-buffett-spends-money-net-worth">Warren Buffett</a>.According to Bloomberg's rich list, only 15 people on the planet have a $100 billion-plus net worth. Jim's siblings, Rob and Alice, rank 16th and 17th with net worths of $98.3 billion and $97.7 billion each, meaning they'll <a target="_blank" class="" href="https://www.businessinsider.com/walton-family-wealth-walmart-record-stock-billionaires-retail-rich-list-2024-8">likely join him soon</a>.Jim's fortune has swelled by about $28 billion this year to $101 billion, fueled by a 50% rise in Walmart stock to a record high. The three Waltons have also received over $15 billion each from stock sales and dividends over the years, per Bloomberg.The likes of Musk, Bezos, and now Jim Walton command $100 billion-plus net worths because they own vast amounts of stock in some of the world's most valuable companies.Walmart founder Sam Walton shrewdly gave 20% of his future retail empire to each of his four children over 70 years ago, in 1953. By <a target="_blank" class="" href="https://www.businessinsider.com/walton-family-sam-walmart-stock-billionaires-estate-planning-inheritance-wealth-2024-8">organizing his business as a family partnership</a> and giving his kids their stakes when he only owned a couple of stores, instead of handing down his wealth after he died a billionaire in 1992, he saved them a fortune in estate taxes.Jim, 76, has led several of Walmart's businesses over the years, including a bank and a community newspaper. After his brother, John T., died in 2005, Jim replaced him on Walmart's board and remained a director until he retired in 2016.The late John T. <a target="_blank" class="" href="https://www.businessinsider.com/life-of-the-walton-family-behind-walmart-and-sams-club-2018-12">left the bulk of his fortune</a> to his son Lukas, now the world's 45th wealthiest person with a $34.9 billion net worth, and wife Christy, the 128th richest with $15.7 billion.The five wealthiest Waltons are together worth nearly $350 billion — a figure that dwarfs Coca-Cola's market value of $306 billion.Walmart has grown from a single five-and-dime store in Bentonville, Arkansas, into a <a target="_blank" class="" href="https://www.businessinsider.com/history-of-sams-club-walmart-owned-warehouse-2023-5">retail behemoth</a> that generates $600 billion in net sales a year, employs 1.6 million Americans or roughly 1% of the US workforce, and ranks among the world's largest companies with a market value of $634 billion.The corporate titan has benefited from <a target="_blank" class="" href="https://www.businessinsider.com/consumer-spending-us-economy-outlook-inflation-recession-fed-interest-rates-2024-2">resilient consumer spending</a> during a period of historic inflation and surging interest rates. Its stock has jumped this year as investors bet on prices to stabilize, rates to fall, and the US economy to <a target="_blank" class="" href="https://www.businessinsider.com/september-fed-interest-rate-cuts-soft-landing-inflation-powell-su-2024-7">escape a recession</a>.

Walmart heir Jim Walton just joined the $100 billion club

<ul class="summary-list"><li>A new study shows 51.6% of US stocks since 1925 lost value over their lifetimes.</li><li>But there are steps one can take to mitigate risk, says Lance Roberts.</li></ul>It may come as a surprise that most stocks lose value over their lifetimes, given the long-term outperformance of major indexes like the S&amp;P 500.A <a target="_blank" href="https://download.ssrn.com/2024/10/1/4897069.pdf?response-content-disposition=inline&amp;X-Amz-Security-Token=IQoJb3JpZ2luX2VjEC0aCXVzLWVhc3QtMSJHMEUCIQDN0qA7vH3iVQ7kMnZb4o9%2B6lcNFjaOmf49w%2Bw5bU5jTwIgcl%2BOpTpgkU0WOQS0sUYTeqH4vOVA8%2B8E6WE59iHcgnEqxgUIlv%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FARAEGgwzMDg0NzUzMDEyNTciDCv3AwTMvnly0NCcWyqaBSrLGbVPR%2FoKw54NV4LpS3q9DrkC7NW5xBeK2ftAprs7ZR3zweHEhwYokQZoeckyXVjOYsfI5OgW5X%2Bhoc1%2BXcM0CqhRVsDEfiBV4qaTawLsmCdPLxe25894Br3LsWasPrlqCZAH0%2BxqDk2kc9I8ll7kgw29%2Bmxqt0yMQeFb94WPydLAWP2stv7jD115u2xfyuzvMlKTlQ8n4q5ZgJrPTd0kZ6g17XIlXbj8IL%2BvVqr7whu15KdngyMNqBNVU9GkBTLR81ubC8l%2B%2FTW3xSxgv6BbMntgX35R6HQv2uOzghLnb1qbkEdKYJFV4R62Fte8CUaOCwctmVXfLasGnKnT5BSiEdYnOhZQbdlmUPn%2FAWZdQRjqL8wm0iDfuM4BtEY1z0ciIiJ4NY0j7oglRko3K4qqP40u1U6CaAH2DhQeFdhQKa439hGN9RDg9RBi3%2FJ3onq6CHpFJuwtPv8Yku5vVy6xtVdk3YQ96ByG3T1VmjbABE3GdTwdsUxl%2BQfCS3RY%2FjHUDhbCai6ISC224s0DqUFs8FScV5TgvzgtkV8H4DuKVmOiK5qPX7vYHRRhbwcuBjxYMYZQjiAoTTckr2YYAKBnKsROl%2FnNdm4G5ajKXDWMAg9Qr2lp7MOSOYS2HRoUq3WQM%2BqPFe5dvmhJAi0VdiglMOVr2nOKLlcJYslVEmVSPh1gsSwc%2FuGB3zqv4nMD9aF9yURFCH3D4hSVN7yxxfiICYhDa7ShR7zJrYlE3ynmdUq93rBo7BNZYUB9osihmSdmZ%2BmgMv7JbliHmQQ3%2BAcziK6rMzmyeIRnAvLRc2RBywKi0xELG%2BhdhhaHjhpIfp2om%2FUK0K40CScj8RPLooS%2BESjM7Um1N3VZOe6BAOYE5BLTmiyHG1QMezDZ9tq4BjqxATVtLNrOOHOYEAQZIosRIxp1zb2GclGkoEhSicOA%2BE%2BbO2hvslHnjd40DFltPtmBYF11Njs6G5hJhfO692AkL4qSuuMuHPv7kdkzrC8POj3h6JnqrPdWUkFqC%2F3UWvPe87E26USmQo59UWLnXFizN94H58Zcmu5wf9eSMFxKG4clIBMWdttM170wHE3yM%2FIChBmKC8unL1x%2BrW9N%2Fub9QEc8ltLUIq3rvQN8AOBHPZYX8A%3D%3D&amp;X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Date=20241021T213401Z&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Expires=300&amp;X-Amz-Credential=ASIAUPUUPRWEZRIUPSYY%2F20241021%2Fus-east-1%2Fs3%2Faws4_request&amp;X-Amz-Signature=1021ef908b230aa75cb64668700a9ac247e2301ab654cc87622c3e6185016a1c&amp;abstractId=4897069">recent paper</a> from Arizona State University professor Hendrik Bessembinder found that 51.6% of 29,078 US stocks since 1925 have lost value from when they were listed. The median return of those stocks was -7.4%.If you're an investor who likes to keep your money in individual stocks instead of an index fund, those might be scary statistics. But there are a few steps you can take to mitigate risk, according to RIA Advisors Chief Investment Strategist Lance Roberts, who discussed the paper in a recent note.To start — it's advice you hear time and again — make sure your money is diversified enough.Diversification comes in many forms. In addition to putting money into stocks, perhaps consider investing in bonds and real estate, Roberts said. You could also consider spreading your money across a number of different industries and sectors, instead of having your whole portfolio in, say, a few tech stocks. A simple way of doing that could also be putting money into an index fund.You can also set up stop-loss orders. This can be done in a brokerage account, and your position is sold if a share price falls to a certain point. There's also the trailing stop-loss order, Roberts said, which adjusts based on upward movements in a stock's price. So a 5% stop-loss limit, for example, moves up to correspond to a level 5% below a stock's rising price, but will never dip below the original stop-loss limit."This safeguard ensures that you are not solely reliant on timing the market, which, as we all know, is nearly impossible to do consistently," Roberts said.And third, take profits on gains. With Nvidia and other AI stocks delivering ungodly returns over the last couple of years, this piece of advice might be good for investors in those firms to hear. It can be tempting to stay fully in a stock that has treated you well. But doing so may also melt away the wealth you've built if the stock has a sudden turnaround, Roberts said."This is not an uncommon issue that I always see with clients and prospects," Roberts wrote. "Greed comes in three destructive forms: 1) the need to make more, 2) the lack of knowing when "enough is enough," and 3) the unwillingness to pay taxes."He suggested a strategy resembling something like taking half of your gains and buying safer assets like Treasurys, and said to keep in mind that paying taxes on capital gains can be cheaper than suffering losses."As investors, it's crucial to understand that market gains are never guaranteed and that the risks of overexposure can be devastating," Roberts said. If you're "riding the wave of massive market gains, ask yourself: Is now the time to take some chips off the table? Are your investments aligned with your long-term goals and risk tolerance?"

A new study shows most stocks have lost value in the last 100 years. Take these 3 steps to protect your portfolio.

<ul class="summary-list"><li>Elon Musk dumped millions into Pennsylvania and camped out in the state to deliver it to Trump.</li><li>His super PAC built a last-minute canvassing effort and spearheaded untested ground-game techniques.</li></ul>Elon Musk, the world's richest man, took a frenzied and controversial gamble on the biggest swing state in the 2024 race, and <a target="_blank" class="" href="https://www.businessinsider.com/trump-won-election-what-that-means-for-elon-musk-2024-11">it paid off. </a>President-elect Donald Trump won Pennsylvania and, with it, another <a target="_blank" class="" href="https://www.businessinsider.com/trump-2024-election-win-5-stats-to-explain-result-2024-11">four years in the White House</a>.Between opaque money channels and the chaos of day-to-day ground operations, the full scope of <a target="_blank" class="" href="https://www.businessinsider.com/business-leaders-react-donald-trump-winning-election-silicon-valley-2024-11">Musk's</a> efforts in the <a target="_blank" class="" href="https://www.businessinsider.com/pennsylvania-grocery-store-voters-talk-economy-inflation-harris-trump-2024-10">Keystone State</a> aren't yet clear. But they were substantial.On July 13, Musk publicized his <a target="_blank" href="https://x.com/elonmusk/status/1812256998588662068?lang=en">support for Trump on X,</a> posting a video of the former president after he survived an <a target="_blank" href="https://www.businessinsider.com/secret-service-elon-musk-investigation-tweet-biden-kamala-assassination-2024-9">assassination attempt</a> in Butler County, PA.Musk set up a war room of sorts in Pittsburgh and spent the <a target="_blank" class="" href="https://www.businessinsider.com/election-trump-harris-outrage-garbage-mark-cuban-puerto-rico-2024-11">race's final weeks</a> galavanting across the state. He urged Pennsylvania voters to head to the polls in apocalyptic terms, telling them in late October that <a target="_blank" href="https://www.businessinsider.com/elon-musk-america-super-pac-trump-turn-out-voters-2024-10">the 2024 election</a> would determine "the fate of Western civilization."<h2 id="d23cb44a-cd94-4837-9c9d-ff0134e1a228">Musk spent more than $130 million on the election, much of it late in the game.</h2>Musk's Keystone State tour-de-force began on October 5, when he attended his <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-donald-trump-rally-butler-pennsylvania-assassination-attempt-2024-10">first campaign rally alongside Trump in Butler, PA. </a>Beyond appearing beside Trump, Musk hosted his own events in Pennsylvania.Between October 17 and October 20, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-donald-trump-x-newsnation-town-hall-video-2024-5">he hosted four town halls in as many days</a> across the state. On October 26, he hosted another town hall.<div type="image" title="Elon Musk and Donald Trump at a rally in Butler, PA." height="5504" width="8256" msid="115060193" hostid="261" sizebytes="7890120"></div>Tom Eddy, chairman of the Erie County Republican Committee, told BI the day after the election that Musk is a well-liked figure in the state, particularly because he's created successful companies."And those things can play very well with the American economy," Eddy said, noting that the issue was top of mind for many voters in his swing district that ultimately voted for Trump.Much of Musk's work in Pennsylvania happened through the super PAC he created, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-america-pac-targets-young-men-vote-2024-9">America PAC.</a>Under new legal guidance for 2024, these outside groups can coordinate directly with campaigns. Trump's campaign and America PAC signed a data-sharing agreement, which let them jointly determine which voters to target. For the most part, America PAC spent its money on canvassing and digital advertising.According to documents filed with the Federal Election Commission in late October, Musk funneled just under $119 million into his PAC, including $43.6 million in the first two weeks of October alone. As of October 16, he publicly disclosed spending <a target="_blank" href="https://www.businessinsider.com/elon-musk-trump-gop-spending-130-million-2024-10">more than $130 million overall </a>to help Trump and Republicans, though donations made past that date won't appear on public filings until late November. It remains unknown how much Musk has given to "dark money" groups, which are nonprofits that don't disclose their donors.Musk, the Trump campaign, and the Harris campaign did not respond to requests for comment for this article.<h2 id="69e7381f-e923-4fa6-a1a3-b990c7582f8f">The ground game was key to Musk's effort.</h2>In Musk's mind, voter mobilization was key to winning Pennsylvania, and he was particularly focused on turning out low-propensity voters in rural areas, the New York Times reported. He even hired <a target="_blank" href="https://www.businessinsider.com/chris-young-republican-operative-elon-musk-hired-donald-trump-donor-2024-8">Chris Young</a>, a Republican operative with extensive experience in field operations, to guide his political spending.Campaigns and outside groups typically spend months, if not years, building the architecture of voter mobilization. Some Democrats doubted America PAC's efforts ahead of Election Day."You gotta find the people. You gotta train the people. You gotta design and print everything. You gotta use the data," Daniel Fee, a Democratic strategist in Pennsylvania, told Business Insider before the election. "Field is not like, 'I knocked on your door and now I'm done.'"He added, "If late money was all you needed, that's all anybody would do."<div type="image" title="America PAC invested most of its resources into canvassing and digital efforts." height="4681" width="7409" msid="115060194" hostid="261" sizebytes="3445228"></div>But Charlie Gerow, a Republican strategist in Pennsylvania, told BI on Wednesday that Musk's positive effort was undoubtedly felt on the ground."Elon Musk took up residency here the last week to 10 days of the campaign and was a big help in pushing President Trump over the finish line," he said.Republican leaders in three key Pennsylvania counties told Business Insider before the election that they were confident in America PAC's get-out-the-vote effort. Canvassers for America PAC knocked on around 2.3 million doors in Pennsylvania alone, the Times reported.On Wednesday, Eddy said that while it's hard to credit just one person, Musk "obviously" had an impact in improving Trump's canvassing effort.Patricia Poprik, the chairwoman of the Bucks County Republican Committee, said Republicans in the state were thrilled to have the mogul on their side. "People are enjoying it, and they like seeing him," she said two days before the election.Other Republican officials BI spoke with echoed Poprik."It's been kind of surreal, to be honest," Christian Nascimento, chair of the Montgomery County Republican Committee, said. "He is just this singular figure."<h2 id="64da1222-2fce-4b78-b72c-5a8241ff78a9">America PAC used unconventional, untested get-out-the-vote efforts.</h2>America PAC didn't just rely on traditional door-knocking — it also turned to novel methods, including some that landed the group in legal jeopardy. The PAC offered <a target="_blank" href="https://www.businessinsider.com/elon-musk-trump-superpac-donations-politics-2024-10">registered voters in Pennsylvania $100</a> to sign a petition in support of the First and Second Amendments, and another $100 to refer another signer. Registered voters in other swing states could earn $47 per referral.At an America PAC event in Harrisburg, PA on October 19, Musk announced that he would award <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-1-million-giveaway-legal-questions-2024-10">$1 million each day</a> through November 5 to a swing state voter who signed the petition. The first winner, John Dreher, hailed from Pennsylvania.<div type="image" title="Elon Musk hands out a $1 million check" height="3001" width="4500" msid="115060196" hostid="261" sizebytes="1988604"></div>Democrats and legal scholars were quick to question if the move violated election law. The <a target="_blank" class="" href="https://www.businessinsider.com/doj-warns-elon-musk-voting-sweepstakes-reports-2024-10">Department of Justice</a> sent Musk a warning letter and the Philadelphia District Attorney <a target="_blank" class="" href="https://www.businessinsider.com/judge-could-halt-elon-musks-1m-america-pac-giveaway-2024-10">filed a civil case</a>, calling the petition an "unlawful lottery."Donald Green, a professor at Columbia University who studies field efforts, told BI that Musk's project could inaugurate a "new era" of pumping money into campaigns."This certainly opens the door to doing things that don't pay for people to vote, but certainly pay people to do things that are tip-toeing up to the vote," he told BI the day after the election.As of October 29, America PAC had mailed out more than 87,000 checks to people who referred petition signers, according to a <a target="_blank" href="https://x.com/america/status/1851435453091602781">post from the organization on X.</a>Green told BI that the petition was likely most useful for the quiet data it collected, which was shared with the Trump campaign under new federal election rules."If the take-home message from this campaign is that these kinds of last-minute list-building operations are effective, you can expect to see more of them," Green said ahead of the election. "I would say that the magic is not the petition per se, but the list-building that follows from it."<h2 id="10f87c68-a314-4f2a-a182-aff565771cb7">Musk's work in Pennsylvania reverberated beyond state borders.</h2>Musk's sprawling, last-minute effort in Pennsylvania had stakes <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-win-elon-musk-election-tsla-2024-11?_gl=1*d48hdb*_ga*MTYzNzE5MDYzNC4xNzI2NjY1NTMw*_ga_E21CV80ZCZ*MTczMDkyMjQ1Ny4xNDMuMS4xNzMwOTI0MjYyLjIzLjAuMA..">beyond his wallet</a>. Now that Trump has won the White House, thanks partly to the state's 19 Electoral College votes, Musk stands to amass even more power. The president-elect offered to put him in charge of a "Government Efficiency Commission" that oversees the very agencies that regulate Musk's many businesses."If he loses, I'm fucked," Musk said on a podcast at the beginning of October.Lucky for Musk, both he and Trump came out on top — in Pennsylvania and pretty much everywhere else.

Elon Musk went all-in on Pennsylvania — and his expensive effort paid off big time

<ul class="summary-list"><li>Alice Walton has overtaken Françoise Bettencourt Meyers as the world's richest woman this year.</li><li>The Walmart and L'Oréal heiresses are worth $95 billion and $90 billion respectively, per Bloomberg.</li></ul>The heiress to the Walmart fortune has leapfrogged the L'Oréal heiress to become the <a target="_blank" class="" href="https://www.businessinsider.com/richest-women-world-meyers-walton-koch-johnson-mars-2024-5">world's richest woman</a> — and <a target="_blank" class="" href="https://www.businessinsider.com/walton-family-wealth-walmart-record-stock-billionaires-retail-rich-list-2024-8">could soon cross $100 billion</a> in net worth.<a target="_blank" class="" href="https://www.businessinsider.com/life-of-the-walton-family-behind-walmart-and-sams-club-2018-12">Alice Walton,</a> daughter of retail icon Sam Walton, is worth more than $95 billion for the first time, per the Bloomberg Billionaires Index. That's due to Walmart's stock price soaring 44% to a record high this year, which has fueled a $25 billion jump in her net worth this year.In contrast, <a target="_blank" class="" href="https://www.businessinsider.com/meet-richest-woman-world-francoise-bettencourt-meyers-loreal-2023-9">Françoise Bettencourt Meyers</a> — the granddaughter of Eugène Schueller, who founded the French cosmetics giant — has seen her wealth shrink by $10 billion this year to $90 billion. That reflects a 13% decline in L'Oréal shares since January.It was a different story at the end of last year, when Bettencourt-Meyers was <a target="_blank" class="" href="https://www.businessinsider.com/loreal-heir-richest-woman-billionaire-francoise-bettencourt-meyers-fortune-2023-12">worth $100 billion</a> and Walton was worth only $70 billion.Bettencourt Meyers ranks 19th on Bloomberg's rich list while Walton sits at 18th, just behind her <a target="_blank" class="" href="https://www.businessinsider.com/walmart-stock-sam-walton-family-wealth-billionaires-musk-rich-list-2024-2">two brothers</a>, Jim ($98 billion) and Rob ($95.8 billion). The siblings each own more than 11% of Walmart, assuming their father evenly divided his shares in the company between his four children. They've also garnered more than $15 billion from stock sales and dividends over the years, Bloomberg estimates.<div type="image" title="Francoise Bettencourt Meyers sits on a chair in an outdoor garden" height="1664" width="2500" msid="112767231" hostid="261" sizebytes="389926"></div>Meanwhile, Bettencourt Meyers has about 35% of the world's largest cosmetics company, which owns brands including Garnier and Maybelline. She inherited the stake from her mother, Liliane, who died in 2017.If Walton's wealth continues rising and breaches the $100 billion mark, she'll join an <a target="_blank" class="" href="https://www.businessinsider.com/wealth-billionaires-musk-bezos-zuckerberg-net-worth-jensen-huang-waltoans-2024-8">elite club of centibillionaires</a> that includes Elon Musk, Bill Gates, and Warren Buffett.Walton and Bettencourt Meyers are two of several heiresses near the top of Bloomberg's list, including Jacqueline Badger Mars and Abigail Johnson, whose grandfathers founded Mars and Fidelity respectively.

Alice Walton is the world's richest woman — and may soon be worth $100 billion

<ul class="summary-list"><li>Dockworkers walked off the job at East and Gulf Coast ports from Maine to Texas on Tuesday morning.</li><li>The strike is set to disrupt major imports one month before the US election.</li></ul>Tens of thousands of <a target="_blank" class="" href="https://www.businessinsider.com/dockworker-strike-what-will-be-impacted-prices-inflation-martime-longshoremen-2024-9">dockworkers are officially on strike</a> after the International Longshoremen's Association and the US Maritime Alliance, which represents dozens of East and Gulf Coast ports, failed to reach consensus on a new labor contract.The <a target="_blank" class="" href="https://www.businessinsider.com/us-economy-congress-government-shutdown-ports-shipping-strike-september-30-2024-9">walkout is set to shutter 36 ports</a> in the region, which handle about half of all US ocean imports and could cost the economy $540 million per day, according to an <a target="_blank" class="" href="https://www.conference-board.org/publications/looming-US-East-and-West-Coast-port-strikes-would-paralyze-US-trade">analysis</a> from The Conference Board.The union is demanding 77% pay raises over the next six years to keep pace with inflation, a figure that would still put them below many of their West Coast port worker counterparts, according to <a target="_blank" class="" href="https://www.cbsnews.com/news/east-coast-port-strike-what-to-know/">CBS News.</a>The strike comes at a critical economic and political moment: roughly one month out from the US presidential election, as consumers and businesses alike begin to feel relief from recent inflation, and just ahead of the busy holiday season.And it comes just after <a target="_blank" rel="" href="https://www.businessinsider.com/florida-home-insurance-prices-premium-effect-from-hurricanes-2024-9">Hurricane Helene</a>, which <a target="_blank" rel=" nofollow" href="https://apnews.com/article/hurricane-helene-north-carolina-asheville-f02869c7d01e68f2d7f0553abb82252f">killed more than 100 people</a> and left devastation across several states, including widespread flood damage that could leave cities like Asheville, North Carolina, without running water for weeks.The flooding and debris have made many roads and highways across the Southeast impassable, or at least tricky to traverse, adding to supply-chain pressures.<h2 id="9898e4d4-de66-431f-9e82-756774bec046">Big hits to small businesses</h2>While there was a <a target="_blank" class="" href="https://apnews.com/article/port-strike-ila-dockworkers-begins-e5468e760f46a64e4322d1702beb1f72">sliver of hope</a> that a contract could be reached after both sides exchanged wage offers on Monday evening, the groups were ultimately unable to reach an agreement, with automation and wages being the major sticking points throughout negotiations.Consumers aren't likely to feel an immediate effect in their pocketbooks, two supply chain experts told Business Insider, but the strike will likely cause major delays and disruptions for everything from food items to <a target="_blank" class="" href="https://www.businessinsider.com/plug-in-hybrid-prices-soaring-demand-electric-cars-2024-9">auto parts.</a>The strike had been brewing for months following increasingly aggressive relations between both sides.As a result, most large retailers have had the time to prepare, stock up their supply chains, and place their holiday orders early, said Brian Pacula, a supply chain partner at West Monroe consulting firm."The Fortune 100s — your Walmarts and even Home Depots — are probably going to be fine," Pacula said. "They generally have very mature supply chains."Mid-size and smaller businesses, however, will likely bear the brunt of the walkout, especially those waiting on shipments from Europe, said Michael Yamartino, CEO of post-purchasing company Route. Rerouting items to the West Coast will cost businesses time and money."Since these are ports on the East Coast, the folks who have suppliers in Europe will be hit," Yamartino said. "The auto industry is high on that list."Trade groups have called on President Joe Biden's administration to help negotiate a deal, but <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-presidential-election-50-days-vance-walz-electoral-math-2024-9">the looming election</a> complicates government involvement.Over the weekend, President Joe Biden, who has modeled himself as a <a target="_blank" class="" href="https://www.businessinsider.com/joe-biden-faithful-allies-appears-ready-to-break-unions-labor-2024-7">stringent supporter of workers</a>, said he had no plans to step in and stop the looming strike. The International Longshoreman's Association previously said they didn't want government intervention and preferred to negotiate independently, according to the Retail Industry Leaders Association.Under the Taft-Hartley Act, the president has the power to seek a court injunction that would trigger a back-to-work requirement while the two sides continue negotiations should the walkout affect national security.But if the strike lasts longer than a few weeks, Pacula said he expects the federal government to get involved, regardless of the election implications."It will be crippling for our economy," Pacula said. "This can't go on for too long."

Dock workers just went on strike at the worst possible time

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/jeff-bezos-congratulates-donald-trump-election-win-washington-post-2024-11">Jeff Bezos</a> is the richest he's ever been.</li><li>The Amazon founder's net worth soared to an all-time high of $228 billion on Wednesday, per Bloomberg's Billionaires Index.</li></ul>The rich are getting richer since Donald Trump was elected president, and Jeff Bezos is no exception.His net worth hit a record high of $228 billion on Wednesday, according to the <a target="_blank" class="" href="https://www.bloomberg.com/billionaires/profiles/jeffrey-p-bezos/?embedded-checkout=true">Bloomberg Billionaires Index.</a> That's up $7 billion from his previous high of $221 billion, which he first reached in July and again on Tuesday.<a target="_blank" class="" href="https://www.businessinsider.com/amazon-stock-earnings-report-call-live-updates-2024-10">Amazon's stock</a>, which had already jumped last week on the back of a strong earnings report, surged following Tuesday's election, closing at an all-time high share price of $207.09 on Wednesday. The rally helped the Nasdaq 100, the index on which Amazon is listed, reach a record high.The vast majority of Bezos' fortune is tied to the company's stock, which is up more than 40% year-to-date; he owns more than 926 million of the company's shares or just under 9% of Amazon's stock.The fortunes of the world's five richest people — including Bezos — soared along with the market on Wednesday after <a target="_blank" class="" href="https://www.businessinsider.com/trump-2024-election-win-5-stats-to-explain-result-2024-11">Trump won the presidential election</a>. Collectively, the billionaires gained nearly $53 billion by the end of the day's trading, which saw investors betting on less regulation and corporate tax cuts under a second Trump administration.Bezos is the second-richest person in the world, topped only by <a target="_blank" class="" href="https://www.businessinsider.com/trump-won-election-what-that-means-for-elon-musk-2024-11">Elon Musk</a><a target="_blank" href="https://www.businessinsider.com/trump-won-election-what-that-means-for-elon-musk-2024-11">, a vocal supporter of Trump's campaign.</a> The Tesla CEO's net worth climbed $26.5 billion on Wednesday to reach $290 billion, per Bloomberg.<a target="_blank" class="" href="https://www.businessinsider.com/jeff-bezos-congratulates-donald-trump-election-win-washington-post-2024-11">Bezos congratulated Trump</a> on his win on Wednesday, calling it an "extraordinary political comeback."The billionaire had not endorsed a candidate this presidential cycle — and had guided <a target="_blank" class="" href="https://www.businessinsider.com/washington-post-donald-trump-kamala-harris-endorsement-bezos-why-matters-2024-10">The Washington Post,</a> which he owns, to do the same. The controversial decision of the paper not to endorse a presidential candidate for the first time in decades led to a number of resignations from the paper and reportedly caused more than 250,000 people to cancel their subscriptions.Both Musk and <a target="_blank" class="" href="https://www.businessinsider.com/jeff-bezos-blue-origin-space-election-elon-musk-nasa-2024-10">Bezos had stakes in the election</a>: Their private space companies, SpaceX and Blue Origin, respectively, rely on government contracts. Bezos' Blue Origin was chosen in June to be a preferred provider for $5.6 billion worth of Pentagon contracts and was awarded a $3.4 billion contract by NASA last year.

Jeff Bezos' net worth hits all-time high fueled by Amazon shares getting Trump bump

<ul><li>The Times 100 <keyword id="17778773" type="General" weightage="100" keywordseo="most-influential-companies" source="Orion">most influential companies</keyword> of 2023 list has been divided in five sub categories.</li><li>Polygon Labs, a company founded by Sandeep Nailwal and Jaynti Kanani, of Indian origin, has made it to the list too.</li><li>Elon Musk owned SpaceX and language learning app Duolingo are featured in the Leader category</li></ul> There is good news and not so good news. The Reserve Bank of India (RBI) and Indian Banks' Association (IBA) 2008 launched National Payments Corporation of India or the <keyword id="193629" type="General" weightage="20" keywordseo="npci" source="Orion">NPCI</keyword> has featured in the <keyword id="518661" type="General" weightage="20" keywordseo="times-list" source="Orion">Times list</keyword> of top-100 influential companies. What more? Another youngster, Meesho, founded only in 2015, has made it too. The not so good news? These are the only two on the list. NCPI is a non-profit umbrella organisation for operating retail payments and settlement systems in India. NPCI owns and operates the Unified Payments Interface (UPI) and is also in charge of the RuPay payment system, which works like Visa and MasterCard. Recently, it has created a separate subsidiary to take its product to the global market. According to media reports, it is in talks with Gulf nations, including Bahrain and Saudi Arabia, to expand its UPI service. Meanwhile, e-commerce platform Meesho, which specialises in retail distribution, has also made it to the coveted list. A few weeks earlier, a report by mobile data analytics provider data.a, Meesho became the fastest shopping app to cross 500 million cumulative downloads. <cmsannotation type="cmsannotation" annotationid="The categorisation and the notable mentions" comment="subhead" text="The categorisation and the notable mentions">The categorisation and the notable mentions</cmsannotation> The list has been divided in five sub categories – leaders, disruptors, innovators, titans and pioneers. NPCI and Meesho both have been mentioned under the ‘Pioneers’. The Titans section has big powerhouses such as IBM, JPMorgan Chase, Lockheed Martin etc. An interesting name in this list is TikTok. Footwear brand Crocs and Polygon Labs, founded by Sandeep Nailwal and Jaynti Kanani, of Indian origin, have been mentioned in the Innovators section. Elon Musk owned SpaceX, language learning app Duolingo and gaming chipmaker Nvidia are the quick noticeable names under the Leader category.

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