Money Buzz! Europa

Tag: microsoft

  • Top 5 tech billionaires worth $567B, more than 80 poorest countries combined

    Top 5 tech billionaires worth $567B, more than 80 poorest countries combined

    The combined net worth of the top 5 tech billionaires hit $567bn in February, more than the gross domestic product (GDP) of the 80 poorest countries combined, AksjeBloggen reports.

    According to the Forbes billionaire list, the COVID-19 has helped Amazon founder and CEO Jeff Bezos to grow his wealth by $74bn in the last year, with his net worth reaching $187bn this month.

    The International Monetary Fund data show this figure is closest to New Zealand and Iraq’s GDP, which ranked 52nd and 53rd globally with $193.5bn and $178.1bn, respectively.

    Amazon products have become one of the most demanded in the world during the pandemic, as it keeps providing tech items, groceries, and entertainment to people amid lockdown.

    Because of the high demand for its services, the company had to hire an additional 175,000 workers to keep up with surging demand.

    Bill Gates, the Microsoft founder, is the second wealthiest person in the US tech industry and globally. The net worth of the billionaire working with the WHO and drug makers to defeat the coronavirus is currently standing at $120bn.

    Statistics show Gates’ wealth grew by $22bn in the last year and is now closest to Morocco’s GDP, which ranked 59th globally.

    As the fifth-largest tech company globally, Facebook has also witnessed impressive growth in 2020. The Facebook shares rose by 26% in the last year, pushing its CEO’s fortune up by $39bn billion to $93.7bn.

    This figure means that Mark Zuckerberg’s wealth is $700 million above Puerto Rico’s GDP, which stands at $93.9bn.

    The chairman, chief technology officer, and co-founder of software giant Oracle, Larry Ellison, and co-founder of Google, Larry Page, ranked as the fourth and fifth tech billionaires globally, with $84.9bn and $80.4bn in net worth as of this month.

    Their wealth is the closest to Sri Lanka and Dominican Republic’s GDP, which ranked 66th and 67th globally, with $81.1bn and $77.8bn, respectively.

    Top 5 tech billionaires worth more than GDP of Sweden, Thailand or Belgium

    According to Forbes and International Monetary Fund data, the cumulative wealth of the top five tech billionaires also surpasses the GDP of several countries considered to be economic powerhouses.

    For example, their combined net worth is bigger than the GDP of Austria, Norway, or United Arab Emirates, which ranked 28th, 33rd, and 35th globally with $432.8bn, $366.3bn, and $353.9bn, respectively.

    Statistics show that the five tech billionaires’ wealth is the closest to Poland and Sweden’s GDP, as 23rd and 24th economies globally. The two countries’ gross domestic product stood at $580.9bn and $529bn in 2020.

  • Romania: Technology companies quadrupled their businesses and teams

    Romania: Technology companies quadrupled their businesses and teams

    The top 50 largest technology companies in Romania, which realise software and digital solutions for group companies or for third parties, have increased in the last ten years by approximately four times the turnover and local teams, reaching a cumulative turnover of 3 billion euros and over 50,000 employees in 2019, according to a Cushman & Wakefield Echinox analysis.

    Most of these companies, such as Amazon, IBM, HP, Microsoft or Oracle, are also in the top of the largest technology companies globally, which reconfirms Romania’s position in the top of the most dynamic IT hubs in the world.

    With 5.5% contribution to Romania’s GDP overall formation in 2019, the technology sector has become an important pillar of the national economy, but also of the real estate market, given that companies in this industry have been the most active office occupier in the last decade, both in Bucharest and in other university centers in Romania, such as Cluj, Timişoara or Iaşi, generating, on average, about 40% of demand.

    The latest data of the National Institute of Statistics indicated in 2018 a number of 140,000 employees in the IT industry in Romania, most of them working in Bucharest (46%), Cluj (12%), Timişoara (9% ) and Iaşi (6%).

    In the context of the Covid-19 pandemic, in which the digitization processes have been accelerated both among companies and public administrations, Romania is in a position to become an important provider of technological solutions that will contribute to the information systems efficiency.

    The average net salaries of Romanian employees working in the data technology sector were about 7.800 lei (1.600 EUR) in May 2020, being the highest in the Romanian economy, but among the lowest in the IT industry worldwide, the local market remaining extremely competitive in terms of wage costs.

    The stock of modern offices in Bucharest and regional cities (Cluj-Napoca, Timişoara, Iaşi and Braşov) amounts to approximately 4 million square meters, housing about 350,000 employees in various fields, such as IT, telecom, financial services (banks – insurance), professional services (lawyers – consultants), media, etc.

  • Top 10 richest people worth more than bottom 85 poorest countries GDP

    Top 10 richest people worth more than bottom 85 poorest countries GDP

    • Data gathered and calculated by Learnbonds.com indicates that the world’s top ten richest people have a combined wealth more than the bottom 85 poorest countries based on GDP.
    • According to the data, the top ten richest people have a cumulative wealth of $858.1 billion while the 85 countries have a combined GDP of $813.5 billion.
    • Top 10 richest people have more wealth than Saudi Arabia’s GDP.

    The list is mainly dominated by American billionaires. From the data, the world’s richest people’s cumulative wealth also surpasses the GDP of various countries considered to be economic powerhouses.

    For example, despite being one of the leading global oil producers, Saudi Arabia’s GDP is slightly lower than the cumulative wealth of the top ten wealthy people. The Middle East country has a GDP of $779.29 billion, to occupy the 18th position globally.

    At the same time, the cumulative wealth of the top richest people is almost twice the GDP of Iran ($458.5 billion) while it’s more than Belgium’s GDP of $517,609.

    Amazon CEO Jeff Bezos is the richest person in the world with a networth of $123.50 billion. His fortune is slightly above Morocco’s GDP which stands at $119,04 billion.

    Bill Gates is the second richest person in the world with a net worth of $112.60 billion ranking him higher than 127 bottom countries in terms of GDP.

    Other global billionaires include Bernard Arnault & family ($108 billion), Warren Buffet ($90.40 billion), Amancio Ortega ($78.10 billion), Mark Zuckerberg ($78.10 billion),  Larry ($68.50 billion), Carlos Slim Helu, ($66 billion), Larry Page ($65.90 billion) and Steve Ballmer ($65.20 billion).