Latest news with #billionaires
Yahoo
13 hours ago
- Business
- Yahoo
19 People Becoming Billionaires In The AI Boom
Artificial intelligence (AI) is perhaps the most significant technological step forward since the introduction and proliferation of social media networks and ecommerce platforms, both in terms of its impact on the business world as well as society writ large. Read More: Find Out: It's no secret that the rapid rise of AI models — and the companies which either build, provide hardware to power, or simply leverage these tools in the marketplace — has led to a massive creation of capital. Who, exactly, are the most prominent new billionaires to profit from the AI boom? Forbes provided a few details outlining these personalities. Perhaps the most prominent of these newly minted AI billionaires, Alexandr Wang is the founder and CEO of Scale AI, a company which engaged in data labeling for other tech juggernauts such as OpenAI, Google and Meta. His current net worth was pegged at approximately $2 billion as of April, per Forbes. After dropping out of MIT at the age of 19, Wang is now poised to make another controversial move. According to TechCrunch, Wang received a very enticing offer to join Meta's AI team as the social media company redoubles its efforts to build a 'superintelligence' capable of dethroning competitors in the AI arms race. Founder and CEO of Chinese AI company DeepSeek, Wenfeng's firm rose to fame as a disruptor in the AI space, making headlines for months earlier this year due to the release of its free artificial intelligence tools which were said to rival paid options coming from OpenAI, among others. Wenfeng's estimated net worth as of April was about $1 million. Perhaps best known as CEO of one of the world's most famous tech companies, Google, since 2019, Pichai was in the driver's seat for Google's entry into the AI revolution via the release of its Gemini model. With Google shares having enjoyed a rapid increase in valuation — and despite the fact that Pichai owned just 0.02% of the company's total shares in April — at that time his net worth was pegged at around $1.1 billion. Splitting from OpenAI to form competitor Anthropic (known for its family of AI models, Claude), Amodei – alongside his sister, Daniela, in addition to Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish, Christopher Olah, all formerly of OpenAI — in 2021, Amodei's net worth was sketched out to rest at approximately $1.2 billion. His co-founders are reputed to have roughly equal the amount of wealth, as of April. Forbes also listed Michael Intrator, Brian Venturo, Brannin McBee, and Jack Cogen (CoreWeave); Joe Lonsdale (Palantir); Phil Shawe (TransPerfect); Yao Runhao (Paper Games); and Luis von Ahn as well as Severin Hacker (Duolingo) as part of the AI billionaire cast. More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on 19 People Becoming Billionaires In The AI Boom
Wall Street Journal
19 hours ago
- Business
- Wall Street Journal
The Secret to Building a $100 Million Megamansion
As the merely wealthy take stock amid a correction in the public markets, a tariff war and concerns about an impending recession, the super rich continue to spend. Look no further than the ultra high-end real-estate market for evidence of this alternate financial reality. Billionaires are still paying tens or even hundreds of millions of dollars for well-located sites in markets like Los Angeles, Miami, Palm Beach and Aspen, Colo.
Globe and Mail
a day ago
- Business
- Globe and Mail
Billionaire Investors Are Buying These 3 Artificial Intelligence (AI) Stocks Hand Over Fist
If you follow the world's wealthiest investors, you'll see a wide range of investing styles. Some focus on valuation. Others prioritize growth potential. A few look for arbitrage opportunities. But there's at least one common denominator among many ultrarich investors these days: They like artificial intelligence (AI) stocks. Billionaires are buying these three AI stocks hand over fist. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » 1. Alphabet Google parent Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) stands out as a top pick for several billionaire investors. Izzy Englander might be the most bullish about the tech stock. His Millennium Management hedge fund upped its position in Alphabet by 150.8% in the first quarter of 2025. Ken Griffin is another billionaire hedge fund manager who's enthusiastic about Alphabet stock. His Citadel Advisors increased its stake in the tech giant by 55.7% in Q1. Appaloosa's David Tepper also bought over 128,000 additional shares of Alphabet, bumping up his holding in the stock by 6.8%. What do these billionaire investors like about Alphabet? Its valuation is probably near the top of the list. The stock trades at a forward price-to-earnings ratio below 19. None of the other so-called "Magnificent Seven" stocks comes anywhere close to such an attractive valuation. Alphabet has also been showing that it's playing to win in the AI space. The company's Google Gemini 2.5 Pro ranks No. 1 overall on the LMArena leaderboard. Google Cloud continues to be the fastest-growing of the top three cloud service providers. 2. Amazon There isn't as much of a consensus among billionaire investors when it comes to Amazon (NASDAQ: AMZN). Chase Coleman's Tiger Global Management upped its stake in the e-commerce and cloud service giant by 2.7% in Q1 and Englander's Millennium Management boosted its position in Amazon by 5.3%. However, Griffin's Citadel Advisors reduced its Amazon holding by 43.5%. Tepper's Appaloosa trimmed its position in Amazon by 3.5%. But one billionaire loaded up on Amazon stock in the first quarter. George Soros bought more than 101,000 shares, increasing his hedge fund's stake in Amazon by 30.5%. Amazon is now the 11th largest holding in Soros Fund Management's $5.61 billion portfolio. Soros probably likes Amazon's bottom-line improvement. In Q1, the company's earnings soared 64% year over year to $17.1 billion. Amazon has been laser-focused on improving profitability -- and its efforts are clearly paying off. Amazon has also flexed its AI muscle. The company's Amazon Web Services unit still commands the largest market share in cloud services, thanks in part to its Amazon Bedrock platform that supports multiple AI models. Amazon recently introduced Alexa+, its next-generation AI assistant. 3. Meta Platforms Meta Platforms (NASDAQ: META) elicits different views among billionaire investors as well. It's still the largest holding for Coleman's Tiger Global, but the hedge fund didn't buy or sell shares of Meta in Q1. Englander and Griffin seemed to sour on Meta somewhat, though, slashing their positions in the stock by 38.9% and 44.2%, respectively. However, Tepper increased Appaloosa's stake in Meta by 12.2%, making it his portfolio's fifth largest holding. Steve Cohen, though, stood out as the biggest Meta bull in Q1. His Point 72 Asset Management increased its position in the Facebook and Instagram parent by a whopping 585%. What might Cohen find so appealing about Meta? It could simply be the company's continued strength in the advertising market. A staggering 3.43 billion people used Meta's family of apps daily in Q1. The average price per ad shown to those users increased by 10% year over year. I suspect that Cohen is enthusiastic about Meta's AI initiatives as well. Meta AI now has nearly 1 billion monthly active users. The company is also a leader in AI-powered smart glasses. CEO Mark Zuckerberg believes that glasses are "the ideal form factor" for AI. Should you invest $1,000 in Meta Platforms right now? Before you buy stock in Meta Platforms, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Meta Platforms wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $658,297!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $883,386!* Now, it's worth noting Stock Advisor 's total average return is992% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Keith Speights has positions in Alphabet, Amazon, and Meta Platforms. The Motley Fool has positions in and recommends Alphabet, Amazon, and Meta Platforms. The Motley Fool has a disclosure policy.
Bloomberg
a day ago
- Business
- Bloomberg
Three Hard Questions for Indian Aviation After Deadly Crash
Newsletter India Edition Tragedy highlights hard choices facing one of the world's fastest-growing markets for air travel Welcome to India Edition, I'm Menaka Doshi. Join me each week for a ringside view of the billionaires, businesses and policy decisions behind India's rise as an emerging economic powerhouse. You can subscribe here, and share feedback with me here.
Daily Mail
a day ago
- Entertainment
- Daily Mail
A-list Marvel actor says billionaires and 'white people' are creating more problems than migrants
Mark Ruffalo has claimed billionaires and 'white people' are creating more problems in the United States than illegal immigrants. The Avengers actor attended a No Kings Day protest in New York City on Saturday to speak out against President Donald Trump 's immigration enforcement. Ruffalo, an outspoken liberal, was seen wearing a hat with the word 'Immigrant' emblazoned on it. He argued that the migrants the Trump administration is targeting in its ICE raids are good people - and that wealthy Americans and 'white people' are the ones who are committing crimes. 'We get to see who is really making our lives unbearable and making us so desperate,' he told the activist group New York Immigration Coalition at the scene. 'It's not the immigrants, it's the billionaires.' Ruffalo, whom Finance Monthly estimates has a net worth of $90 million, then went on to claim Trump and conservatives are wrongfully scapegoating migrants for the problems created by white Americans and billionaires. 'We're seeing what's happening,' he said. 'First of all, we're understanding that the immigrants aren't the criminals. If you look at the statistics, most of the crimes committed in this country are by white people - non immigrants,' the actor claimed, adding that immigrants 'add to our economy by the billions.' The Spotlight star concluded his remarks by saying: 'It's time to take our country back from that extreme wealth that has its hands all over the power of the nation, and become a beautiful, burgeoning democracy that works for the people, not just the very wealthy.' Ruffalo repeated those sentiments in prepared remarks at the massive protest. 'Sadly, today Donald Trump and the administration of billionaires, crackpots and ICE brigades have taken over,' he lamented. 'We have a king and his court and his beige henchmen - and they're trampling on our rights and our laws and our freedoms, making themselves richer with taxpayer dollars and making us less safe with their love of other kings and dictators and the likes of Putin and Netanyahu and Kim Jong Un of the world.' He then concluded by declaring that the protesters who took to the streets 'are the Avengers' as they are not afraid to fight. The protest on Saturday drew boisterous crowds marching, dancing, drumming and chanting shoulder-to-shoulder in New York, as well as cities like Denver, Chicago, Austin and Los Angeles. In some places, organizers handed out little American flags while others flew their flags upside down, a sign of distress. Mexican flags which have become a fixture of the Los Angeles protests against immigration raids, also made an appearance at some of the demonstrations. "It's not the immigrants, it's the billionaires." @MarkRuffalo #NoKings #MarkRuffalo #immigration #nokingsprotest #keepfamiliestogether — New York Immigration Coalition (NYIC) (@thenyic) June 17, 2025 But the Trump administration has claimed the migrants it is rounding up are convicted criminals. 'The Trump Administration will fulfill the President's promise to deport illegal aliens and no one – not even violent left-wing rioters – will get in the way of our mission,' White House spokeswoman Abigail Jackson told the Daily Mail last week. 'ICE is arresting illegal aliens and will continue to do so all around the country no matter what radical liberals do, the safety of the American people depends on it,' she said.
