Capital markets suck, according to China billionaire

Zong Qinghou, China’s richest man, has strong feelings about investing and the state of the global equity markets: “The capital markets suck in China.”

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How to become a billionaire in China

If you think becoming a billionaire in China is hard to do. You make want to re-think that thinking.

Especially when it comes to the family of Chinese Premier, Wen Jiabao. Or, should we say, Wen Jiabao, Inc.

Yeah, the very humble guy toasting his countrymen, his party and his friends is really thanking everyone on making it all possible for his friends and family to become very well off indeed.

Read on and understand how and why and how much. Enjoy.


Yahoo Finance article

Marriage to a Billionaire

The Marriage Bargain (Marriage to a Billionaire)

A marriage in name only...

To save her family home, impulsive bookstore owner, Alexa Maria McKenzie, casts a love spell. But she never planned on conjuring up her best friend's older brother—the powerful man who once shattered her heart.

Billionaire Nicholas Ryan doesn’t believe in marriage, but in order to inherit his father’s corporation, he needs a wife and needs one fast. When he discovers his sister’s childhood friend is in dire financial straits, he offers Alexa a bold proposition.

A marriage in name only with certain rules: Avoid entanglement. Keep things all business. Do not fall in love. The arrangement is only for a year so the rules shouldn’t be that hard to follow, right?

Except fate has a way of upsetting the best-laid plans…

The Marriage Bargain (Marriage to a Billionaire)

Peter Thiel is Open For Business

Peter Thiel opens Mithril Capital Management with a $402 million fund


Peter Thiel, co-founder of PayPal and early stage investor in Facebook, has opened up a new venture capital fund based in San Francisco.

Mithril Capital will seek growth opportunities — these will be start-ups that have already received venture funding and are looking achieve significant growth during the next stage.

Zimbabwe, billions and hyperinflation

In general people from Zimbabwe are a happy people. One reason is the country has no shortage of available money. Money makes many people happy.

However, the people of Zimbabwe occasionally get unhappy when the price of eggs and other food items go up and up and up some more.

One of the main reasons why prices are high and why there are so many happy and unhappy billionaires in Zimbabwe is because of inflation. Hyperinflation to be exact. Poor execution of monetary policy is a root cause (what central bank, they say!).

The moral of the Zimbabwe macroeconomic story is that, at times, money cannot buy you happiness even among a country of billionaires.

Suffer, the little billionaires

Read the heart pounding story about Gina Rinehart and other billionaires in how "Even billionaires get the blues."


article: Syndey Morning Herald

Carlos Slim remains number one on Forbes billionaires list

Mexico's Carlos Slim remained the world's richest man for the third year in a row with a $69 billion fortune on the Forbes billionaire list. Slim was down $5 billion compared to last year.

Bill Gates of Microsoft came in second at $61 billion, up $5 billion for the year.

R. Allen Stanford guilty on 13 of 14 charges of money laundering and fraud

In Houston, a jury has found R. Allen Stanford, 61, guilty on 13 of 14 charges of money laundering and fraud. This was a Ponzi scheme that lost billions of dollars for investors worldwide.


The jury verdict came during the fourth full day of deliberations and after a month long trial.

Mexico's Monopoly Man Mints Many Pesos

In Economics 101, one eventually learns the definition of a monopoly as "one firm or producer in an industry or market sector."

Outside of class, and in life, one learns that the somewhat educated news media throws around the term 'monopoly' without any regard to a standardized definition (9 times out of 10). And, of course, this is the same news media that calls bloggers into question for journalistic integrity issues.

So, we have to give The Economist some professional and journalistic credit for recently writing that Carlos Slim enjoys "two near-monopolies" ("Let Mexico's moguls battle"; The Economist, February 4, 2012).

Note for future billionaires: it helps to become a billionaire with occassionally achieving a near-monopoly on a market or two. Call Bill Gates about this.

So here we have Carlos Slim owning both Telmex and Telcel, both with huge near-monopoly market shares in the broadband and mobile markets in Mexico.

And because The Economist is interested in economic fairness (among other things) it is suggesting that Carlos Slim, or the government, or somebody allow a little competition into the marketplace for the benefit of Mexican consumers.

Fat chance. Pun intended.

As they say in Mexico: "it is impossible to go a day without putting pesos into Carlos Slim's pockets."

Enjoy the pesos Carlos!

India: Where did all the billionaires go?

Sorry to report sad net worth news, but billionaires in the BRICS did not have a bullish 2011. Especially India.

According to the Wall Street Journal and data from ET Intelligence Group, India now has just 40 billionaires, down from 60 in 2010. An amazing fall in individual economic power.

Stock market declines and cyclical macroeconomic conditions are the main drivers behind the decline.

For example, India's wealthiest billionaire, Mukesh Ambani, saw his worth drop to $16.8 billion from $20.8 billion in 2010.

The Top 5 bad billionaires for the year 2008

Here at Think Billion$, we've been doing some thinking and serious research. The outcome of which is our First Annual "The Top 5 bad billionaires for the year 2008" list. How about that?

So here's the list and let us know what you think:


1. Jim Clark, the Silicon Graphics founder and serial entrepreneur for being bad in a good way!!?? It was discovered that Jim, 64, has inked Australian super-model Kristy Hinze, 28, to a term sheet as wife number four. You rascal, Jim. Best of luck to both of you from Think Billion$.

2. Donald Trump, for insisting he is still a billionaire, when he is not. And even suing the newspaper reporter for discovering it. Bad form Donald. Very bad.

3. Mark Cuban, for being Mark Cuban, for getting tangled up with the SEC and for thinking that he could buy the Chicago Cubs, and for being Mark Cuban.

4. Jerry Yang, for not maximizing Yahoo shareholder value while the money was on the damn table, Jerry!

5. Michael Bloomberg, for not respecting motherhood in the office and for appointing himself King of New York City.

Happy New Year to one and all!!!

Bill Gates wants us to work on Capitalism 2.0

The usual suspects: Bill Gates, Bono and Michael Dell pose at the World Economic Forum in Davos January 24, 2008.

Gates called on Thursday for a new "creative capitalism" to help the world's 1 billion poorest who live on less than $1 a day.


related -

Capitalism doesn't work, Mr. Gates? (Lawrence Kudlow)

Move over Bill Gates - Carlos Slim is Number One

Mexican tycoon overtakes Bill Gates as world's richest man


Fiona Walsh, business editor
Guardian Unlimited


Microsoft founder Bill Gates looks to have lost his title as the world's richest man, toppled from top spot by the Mexican telecoms tycoon Carlos Slim.

Three months ago the cigar-chomping Mr Slim quietly slipped past legendary US investor Warren Buffett to take second place in the global wealth league.

Now, thanks to a surge in the shares of his America Movil group, Mr Slim has claimed pole position, according to the Mexican online financial publication, Sentido Común.


read::: Guardian Unlimited

Just Say No! to disingenuous philanthropy from Billionaires!!!

There's been a number of recently publicized large gifts to major universities in this country. Columbia and the University of Texas have been some of the beneficiaries.

John W. Kluge, an alumnus of Columbia, has donated $400 million to Columbia University.

T. Boone Pickens has donated $100 million to the University of Texas.

Both Mr. Kluge and Mr. Pickens are well known billionaires.

However, there's been a development. During this season of charitable giving and good will some questions have been raised.

Ann Bartow, Walter Kimbrough and others are among those who have raised some questions. They may have a better idea. It appears a (possible) message to this group of philanthropic billionaires is: we don’t need your money. Or possibly, they might offer that “we have a better idea on how these educational gifts should be allocated.” Or, still better, just give it to us and we will distribute the funds so that the greater good is equitably achieved.

Ann M. Bartow is an Associate Professor of Law at the University of South Carolina School of Law and leader of the Feminist Law Professors blog.

Walter M. Kimbrough is the president of Philander Smith College in Little Rock, Arkansas.

Ann, on her blog, has posted a major excerpt of a recent article written by Walter M. Kimbrough endorsing this new economic approach to personal philanthropy.

Walter writes that he tired of the old, care-free philanthropic approach and flatly states: “I am becoming less and less tolerant of people who pass wealth on to the privileged and masquerade it as philanthropy.” He adds, “This simply extends the gross inequities that exist in our country — inequities that one day will come home to roost.”

Ann entitles her blog excerpt of the article: "And The Rich Get Richer."

Walter finally adds: “Our political leaders must begin to challenge the wealthy to practice real philanthropy."

Our researchers reviewed Walter and Ann’s respective backgrounds and could find no supporting evidence for any professional work done in clinical psychology which would support their abilities to discern the difference between real and fake philanthropy.

So, there you have it. A new political solution to personal philanthropy is what is needed according to Walter and Ann. Write your congresspeople.

Call us old-school but we at Think Billion$ prefer the current free-market solution. Let's all get wealthy together and exercise free economic choice (while we're still allowed to).

related::: Philander Smith must repay $477,029 to feds