Category: BUSINESS

Jeff Bezos Overtakes Bill Gates To Become World’s Richest Man

Amazon CEO Jeff Bezos has overtaken Bill Gates and is now the richest person in the world, with a fortune topping $90 billion for the first time ever.

When markets opened on Thursday, Bezos had a net worth of $90.6 billion, putting him $500 million ahead of Microsoft founder Bill Gates. Amazon stock opened up 1.6% on Thursday, adding $1.4 billion to Bezos’ net worth. That was enough to put him ahead of Gates, who was last surpassed on Forbes’ real-time rankings for just two days nearly a year ago by Spanish retail giant Amancio Ortega.

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How Much Does It Cost To Fly By Private Jet? We Look At The Options From $59 To $10 million And Up

The rich are getting richer. Commercial airline service is getting worse as is the airport experience. Yet today, you can at least get a taste of the private aviation experience for as little as $59, albeit on an airplane with seating that more closely resembles the type of regional jet you find flying with the regular airlines. However, you do bypass the commercial airport terminals, showing up for your flight just 15 minutes before departure and you’ll be on your way within five minutes of landing.In the late ‘90s Richard Santulli, with the backing of Warren Buffett and Berkshire Hathaway, made fractional ownership and NetJets required jargon at upper end country clubs and board meetings. By selling shares in planes instead of the entire aircraft, it meant a person worth $50 million could now afford to buy a 1/16th share in a $35 million Gulfstream 450 for several million dollars upfront, possibly financed. Once only the purview of billionaires and Fortune 500 CEOs, smaller companies and entry level Ultra High Net Worth (UHNW) individuals could tool around on luxury private jets of all sizes and prices.

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Wisconsin Company First In US To Microchip Employees

Three Square Market (32M) is offering implanted chip technology to all of their employees on August 1st, 2017. Employees will be implanted with a RFID chip allowing them to make purchases in their break room micro market, open doors, login to computers, use the copy machine, etc. This program, offered by 32M, is optional for all employees. The company is expecting over 50 staff members to be voluntarily chipped.

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Amazon is buying products from some US retailers at full price to build global inventory

Amazon is trying to boost its catalog by telling tens of thousands of marketplace sellers in the U.S. that it will buy their inventory at full retail price.

In an email sent to sellers and obtained by CNBC, the Fulfillment by Amazon (FBA) team said that a new program is being rolled out where Amazon will buy products at full price from third-party merchants, then sell them to consumers across the globe.

“For a limited time, there will be no additional fees, and we will purchase inventory from you at your local marketplace offer price,” the email said.

The new program, which follows a similar rollout in Europe, is the latest move by Jeff Bezos to build up a complete catalog, even if Amazon can’t make much money on the products in question. In some cases, Amazon is approaching these third-party merchants after the manufacturer has declined to distribute the products through Amazon.

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