5 things you need to know in SA business today and 9 mind-blowing facts that show just how wealthy Bill Gates really is
1. Yesterday, the IEC handed over the list of 400 designated MPs and 430 members of provincial legislatures (MPLs) to Chief Justice Mogoeng Mogoeng.
A total of 126 of the 830 officials are younger than 45 years, and at least 45% of them are women.
- Minister of Environmental Affairs Nomvula Mokonyane, who stands accused of receiving R50 000 a month in cash from Bosasa.
- The former Home Affairs Minister Malusi Gigaba who has been associated with the naturalisation of the Gupta family.
- The former Minister of Communications Faith Muthambi who has described as someone "who wanted to steal at all costs" by Government Communication and Information Systems (GCIS) CEO, Phumla Williams at the Commission of Inquiry into State Capture last September. News24 earlier reported that a report by the Public Service Commission also found that Muthambi flouted several public service regulations by making irregular appointments and ordering salary hikes for officials.
- Mosebenzi Zwane, who served under Zuma as Minister of Mineral Resources, has also been linked to the Guptas who allegedly facilitated his appointment to the post, according to the now infamous leaked Gupta emails.
2. At a Goldman Sachs event yesterday, President Cyril Ramaphosa said investors had nothing to fear from land expropriation. He said a reworked Expropriation Bill, which still has to go before the National Assembly, would lay out which kinds of land would be included in the expropriation process. He said the government would be focusing, in part, on tracts of land owned by the state, particularly in urban areas where people need land to build homes.
3. Retail sales are looking grim, with Statistics South Africa reporting that sales only grew 0.2% in the year to March. Sales actually dropped by 0,7% compared to February. Retail sales dropped 0.7% in the first quarter of 2019 relative to growth of 0.8% in the last quarter of 2018. “This deterioration in sales momentum could be attributable to significant petrol price increases in the first quarter which likely dampened spend,” says Momentum Investments.
But Spar reported strong results yesterday, with total turnover up 8.6% to R54.3bn. Its Tops liquor shops saw sales grow by almost 20%, and its stores in Ireland also outperformed. Switzerland, not so much.
Spar earnings look good on FV up 7.5% thanks to TOPS growing 19.3%. Europe business also doing good but Switzerland stinking the join again! Cherry on top: Dividend growing at 5.2%I'm still of the view that these retailers will yield better ROI for S/H than FMCG cos. #JSE— Bright The Dividend Papi ???? (@briteless) May 15, 2019
5. Wall Street ended higher last night, after US president Donald Trump said he would hold off on imposing tariffs on imported cars and parts. There are also reports that a US delegation could visit China next month. The rand was looking steady at R14.21/$.
9 mind-blowing facts that show just how wealthy Bill Gates really is
Reported by Katie Warren
Bill Gates is the second-richest person in the world. The Microsoft cofounder is worth an estimated $104 billion, according to the Bloomberg Billionaires Index.
His wealth is surpassed only by Amazon CEO Jeff Bezos, who has a current net worth of $118 billion.
The next-richest person after Gates is Bernard Arnault, the French businessman who runs luxury-goods empire LVMH and is worth an estimated $92 billion.
The Microsoft cofounder has given away approximately 27% of his net worth to charity over the years.
Here are 11 mind-blowing facts that show just how wealthy Gates really is.
1. Bill Gates has become nearly $12 billion richer in the past year alone.
On May 14, 2018, Gates' net worth was about $90 billion.
He's $28 billion richer than he was five years ago in 2014.
2. Based on how much wealthier Gates got in the past year, he makes approximately $380 per second, according to Business Insider calculations.
That means it would not be worth his time to stop and pick up a $100 bill that he dropped on the ground.
3. If Gates spent $1 million a day, it would take him more about 285 years to spend his fortune, according to Business Insider calculations.
But although Gates indulges in a few luxuries - such as a private plane and a massive Washington home now worth $125 million - the billionaire is known for being relatively frugal in his spending.
4. Gates' $104 billion fortune could buy 81.1 million troy ounces of gold, according to Bloomberg.
According to Bloomberg, that's also the equivalent of 1.45 billion barrels of crude oil.
5. Although Gates made his fortune cofounding Microsoft with Paul Allen, he now only owns 1.3% of the company — and he's still worth $104 billion.
6. Gates has remained the second-richest person in the world even after giving away approximately 27% of his net worth to charity over the years.
In 2010, Gates and Warren Buffett - the world's fourth-richest person - founded The Giving Pledge, a charity organization that encourages the world's wealthiest people to give the majority of their fortune to charity during their lifetime or after their death.
Gates has donated $35.8 billion in Microsoft stock to the Bill & Melinda Gates Foundation, according to Forbes.
In 2017, he invested $50 million into Alzheimer's research and later gave another $30 million to a "venture philanthropy" fund called Diagnostics Accelerator, which has the aim of diagnosing Alzheimer's earlier.
Gates and his wife, Melinda, have also traveled to Tanzania and other countries for charity work. They've donated millions more to causes that include health and development and education.
7. Gates' net worth is equal to more than a quarter of South Africa's economy.
South Africa's total GDP is currently valued by the International Monetary Fund at $386 billion.
His wealth is also greater than the GDP of Croatia, Cambodia, and the Bahamas — combined.
Croatia's GDP is about $63.8 billion, Cambodia's is $26.6 billion, and the Bahamas' is $12.8 billion.
8. Gates is richer than the richest man in Asia and the richest man in China, combined.
Indian businessman Mukesh Ambani, worth $55 billion, is the richest person in Asia. And tech tycoon Pony Ma, worth $38.2 billion, is China's richest person, according to Bloomberg's Billionaires Index.
9. Gates could give every single living person on the planet $10 — and still have more than $30 billion left over.
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