Source: CNBC
Security & Justice
Lebanon’s Border Villages Face Renewed Devastation Amid Israeli Withdrawal
The Israeli army withdrew from the southern Lebanese village of Bani Hayyan on Friday morning, two days after entering the area in the Marjayoun district. According to local reports, Israeli forces demolished multiple homes as they retreated.
Friday, December 20, 2024
Interview Set to Shed Light on Mossad’s Decade-Long Covert Operation Against Hezbollah
In a highly anticipated episode of CBS’s 60 Minutes, recently retired Mossad agents provide unprecedented insights into a decade-long covert operation targeting Hezbollah. The agents, whose identities remain concealed with masks and altered voices, share with journalist Lesley Stahl the intricate details of their mission to sabotage Hezbollah’s communications network.
Friday, December 20, 2024
Opinion
Lebanon After the Assads
The United States has important equities in Lebanon, including a desire for a generally friendly government’s economic and political stability; security cooperation; long-standing relations with the large Christian community in Lebanon and Lebanese diaspora in the United States; and ultimately peace between Israel and Lebanon within a broader regional settlement. Achieving these objectives will require navigating a tumultuous period in the country’s history following a war between Hezbollah and Israel that has devastated a large part of the country, exacerbating Lebanon’s already challenging economic conditions. But perhaps the most important dynamic will be how a likely Sunni-dominated state of uncertain composition in Syria will differ in its intentions toward Lebanon from the previous Alawite-led minoritarian Assad regime.
Thursday, December 19, 2024
Europe’s Syrian Dilemma
The news of the sudden and unexpected demise of Bashar al-Assad’s regime in Syria has met a mixed response in Europe. The jubilation that a murderous dictator and close ally of Russia and Iran has fallen is not just good for the Syrian people but serves as a morale booster for Eastern Europeans wondering whether Russia can be defeated
Wednesday, December 18, 2024
Sports
Cristiano Ronaldo Unveils New Private Jet Worth $73 Million
Cristiano Ronaldo, one of the richest global athletes, has unveiled his upgraded private jet reportedly worth $73 million. With its top-notch design, exceptional speed and range of 7500 nautical miles, the Gulfstream G650 is among the fastest jets in the world.
Monday, December 16, 2024
Guardiola Accepts Man City May Need to Sign More Players to Cope with Schedule
Manchester City manager Pep Guardiola believes he will need a bigger squad to handle soccer’s ever-expanding fixture schedule.
Saturday, December 14, 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.
