Amazon’s Jeff Bezos Ousts Musk from Top Spot as World’s Wealthiest

In a dramatic shift of fortunes, Jeff Bezos, the iconic entrepreneur and founder of Amazon, reclaimed the coveted title of the world’s richest person on Monday. Beating out Elon Musk on the Bloomberg Billionaires Index, Bezos now boasts a staggering net worth of $200 billion, surpassing the Tesla and SpaceX magnate’s $198 billion. This reversal […]

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Huawei’s new smart car firm valued up to $35 bln amid advanced stake talks: sources

Huawei Technologies’ (HWT.UL) new smart car software and components firm is set for a valuation of up to 250 billion yuan ($34.67 billion) after it sells stakes to investors including Changan Auto, three people with knowledge of the matter said. The Chinese company said on Sunday it will spin off its four-year-old Intelligent Automotive Solution […]

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Why is billionaire Jack Ma focusing on food business in China through a new startup ?

Chinese billionaire Jack Ma is backing a newly formed startup, whose name in English translates to “Hangzhou Ma’s Kitchen Food.” According to a report by CNN, the new company is based in the eastern China city of Hangzhou, Ma’s hometown. The startup will involve sale of pre-packaged food, imports and exports, and edible agricultural products. […]

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