Source: CNBC
Security & Justice
Over 70% of Baalbek Residents Forced to Flee Amid Escalating Conflict
Over 70 percent of Baalbek’s residents have fled the eastern Lebanese city in recent days following heavy Israeli bombardment and evacuation orders, according to the National News Agency (NNA).
Tuesday, November 5, 2024
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Opinion
My Hope for Lebanon
A company of Lebanese soldiers assigned to maintain order in this anxious wartime capital is gathered at its headquarters 100 yards from the Mediterranean. I make the blunder of asking their commander how many of his men are Shiites, Sunnis, Christians and Druze.
Monday, November 4, 2024
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
Sports
FC Barcelona Fears First Team Star Will Be Banned From Playing, Reports SPORT
FC Barcelona is concerned that one of its main first-team stars will be banned from playing at the turn of 2025 because of issues related to his registration and Financial Fair Play (FFP) limits according to SPORT, which cited anonymous sources.
Friday, November 1, 2024
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Sunday 30 January 2022 16:24:27
The World’s 10 Richest People Have All Lost Billions since 2022 Started — Except for Warren Buffett
The world’s richest people have seen their net worths take a beating in the first few weeks of 2022 — except for Warren Buffett.
A recent tumble in tech stocks has dropped the fortune of the world’s richest person, Tesla CEO Elon Musk, by $54 billion so far this year. Amazon founder Jeff Bezos has lost $27.8 billion, Google founders Larry Page and Sergey Brin have both each lost more than $12 billion and Facebook boss Mark Zuckerberg is down $15.2 billion.
Out of the world’s 10 richest people, only one has watched his net worth increase: Buffett, who has gained roughly $2.4 billion, bringing his total figure to $111 billion. This week, the Berkshire Hathaway chairman and CEO passed Zuckerberg to jump back up to the No. 6 spot in the global wealth rankings, according to the Bloomberg Billionaires Index.
It’s an overtaking four years in the making: Zuckerberg most recently leapfrogged Buffett in the wealth rankings back in 2018.
“Decade after decade, the Oracle of Omaha continues to have the golden touch,” Wedbush Securities analyst Dan Ives tells CNBC Make It. “That’s the reason Buffett will be in the history books for centuries — it’s because of his firm belief in value investing.”
Value investors pick stocks that appear undervalued, and are trading for less than they should be. And unlike the other CEOs, whose net worths are largely tied up in their tech firms, Buffett’s Berkshire Hathaway has a widely diversified portfolio that has allowed him to weather the tech sell-offs.
Buffett has long recommended that investors put their money in index funds, which hold every stock in an index, making them automatically diversified. The S&P 500, for example, includes big-name companies like Apple, Coca-Cola and Google.
In 2017, Buffett told CNBC that for people looking to build their retirement savings, diversified index funds make “the most sense practically all of the time.”
“Consistently buy an S&P 500 low-cost index fund,” Buffett said. “Keep buying it through thick and thin, and especially through thin.”
Despite the tech sell-off, Musk’s $216 billion fortune still makes him the richest person in the world, worth nearly twice as much as Buffett. Also, Buffett may not stay in the top 10 for long: Last year, the investor revealed he was halfway done giving away his money to philanthropic causes, and wasn’t planning to stop anytime soon.
