The founder of Amazon Inc., Jeff Bezos holds the top position as the world’s wealthiest person; he is ahead of Bill Gates and Warren Buffet in the Forbes List, data according to recent Forbes list of the extremely wealthiest person. Meanwhile, the Facebook co-founder has slipped by 3 positions, and former New York Mayor Michael Bloomberg has climbed by two positions, the US President Donald Trump has jumped to 51st position in the Forbes ultra-ranking list.

Things seem to be significantly good at the top in the ranking. As per the Forbes list, that was published on Tuesday by Forbes mentions that Jeff Bezos who is 55 has remained at the top position and has increased his wealth by $19 million in a year, and as of now his wealth is around 131 billion dollars.

Jeff Bezos holds 16 percent of stake in Amazon. The left wing of the US Democratic Party is targeting him because of his wealth that has increased the money gap between Bezos and Gates.

Bill Gates is the founder of Microsoft and a philanthropist. He is 63 and has observed his wealth increasing to $96.5 billion which has climbed up from 90 billion in the previous year, Forbes stated.

Interestingly, the Forbes ultra-rich list has been dominated by Americans. Out of the top 20 billionaires, 14 billionaires are Americans and are from the US.

According to magazine prediction, Warren Buffet’s holding has decreased by 1.5 billion, and now the worth is 82.5 billion dollars. He is at third place in the Forbes list; 88 years old Buffest is believed to be an investment guru. He was shocked in February to see a huge downfall in the shares of Kraft Heinz, which is a US processed food producer, the firm in which he had invested and held money.

French Luxury good company LVMH CEO, Bernard Arnault has been at 4^th position, however, Facebook founder Mark Zuckerberg has nearly lost 9 billion dollars of his net worth and has moved down to 8^th position. Earlier, he was at 5^th position in the Forbes list.

Mexican tycoon Carlos Slim has overtaken Mark Zuckerberg, Zara and Inditex founder Amancio Ortega of Spain and Larry Ellison-the co-founder of Oracle. With that, Bloomberg moved to 9^th position from 11^th position as his company worth rose to 55.5 billion dollars, Forbes stated.

Other billionaires who are included in the top 20 billionaires list are non-Americans namely, Mukesh Ambani who is the Chairman of Reliance Industries. He is ranked at 13th place and the Head of Chinese internet company Tencent, Ma Huateng has made his presence in the top 20 Forbes list.

While, the US President Donald Trump has been ranked at 715^th position and according to the Forbes estimation, Trump’s wealth is at 3.1 billion dollars which has been the same from the previous year. Trump has been ranked at 715 in Forbes list, last year he was ranked at 766^th position.

Donald Trump is not the richest person of US who has been elected to the highest post; rather the credit goes to a Democrat, J.B. Pritzker who took over the post of governor of Illinois in January. J. B. Pritzker who is the owner of the Hyatt hotel has valued his worth to be around 3.2 billion dollars.

On Tuesday, the World Bank and the Indian government sealed a deal of worth 250 million dollars for the National Rural Economic Transformation Project (NRETP). The deal will eventually assist women in rural households to build strong organizations related to farm and non-farm products. This will help women in rural households to switch to a new era of economic initiatives.

The main objective of the project will be to encourage and support the women-owned and women-led farm and non-farm organizations within value chains. The project will also assist women to develop a business which will help them to access finance, networks and markets while further creating jobs, as World Bank addressed in a statement.

An agreement was signed on Monday between the World Bank and the Government of India. The NRETP is further financing to 500 million dollar National Rural Livelihoods Project (NRPL) which has been accepted by the World Bank in July 2011. As of now, the NRLP has been executed across 13 states of India, 162 districts and around 575 blocks. The project has recruited more than 8.8 million women from poor rural section households into self-help groups (SHGs) of 750,000. The SHGs is associated with the Village Organizations of 48,700 and Gram Panchayat level Federations of 2900. The 13 states will receive the support under the new project which has been signed on Tuesday and later 125 districts will be included from across these states.

The 250 million dollar loan has a time limit of 5 years and the ultimate maturity of 20 years. The National Rural Livelihoods Mission (NRLM) was launched in 2011, and ever since the project has mobilized rural women into self-help groups.

The World Bank further mentioned that the NERTP could assist enterprise development programmes for rural poor women and also youth by developing a platform so as to access finance as well as start-up financing options so that they can develop their enterprises or collaboratively own enterprises and even control them.

Other important elements of the project consist of creating financial products by using digital financial services so as to support the small manufacturer collectively to scale up their business and to engage with the market.

The project will further strive to offer skills, technical assistance and investment support to enhance the women-owned and women-led manufacturer collectively to change farm and non-farm enterprises into premium quality like livestock products, fisheries and commercial crops.

As per the data, these groups have borrowed almost 30 billion dollars from commercial banks. The new project will also help youth skills development which has associated with Deen Dayal Upadhaya Grameen Kaushalya Yojana. Point to point learning within states and communities was a good strategy within NRLP and this will also be implemented in this project.

The objective of National Rural Livelihood Mission (NRLM) is to eradicate rural poverty and generate opportunities for livable livelihood across rural societies by supporting sustainable community based organizations which will in-turn promote economic and financial services for the poor of rural society, Sameer Kumar Khare-the additional secretary for Department of Economic Affairs and Ministry of Finance mentioned. Further adding to this he said, the additional funding will support us to offer motivation to the poverty alleviation measures and to secure fair and comprehensive growth in India.

The new loan agreement was signed by Sameer Kumar Khare being a representative of Indian Government, and Acting Country Director of World Bank of India, Hisham Abdo as a representative of World Bank.

Luxury goods investor Bernard Arnault has overtaken the Chairman of Berkshire Hathaway Inc. Warren Buffest to gain the title of third wealthiest person of the world in the Bloomberg Billionaires Index list.

Bernard Arnault is a Frenchman, who has added 14.5 billion dollars to his company so far during this year. And, now the worth of his fortune is 83.1 billion dollars, on Tuesday, he surpassed Warren Buffet by 100 million dollar so as to join the top richest list of the world and currently the third richest person ever since the launch of Bloomberg’s wealth ranking in 2012. He is the Chairman of Louis Vuitton Parent (LVMH) which is the only European company other than Amancio Ortega owned by Zara of Spain to be at the third position on the richest list.

Most of Arnault’s wealth is related to his fortune LVMH and Christian Dior. The shares of both the fortunes were increased by 20 percent during the current year and noticed record break sales amidst challenging slowdown in China.

Bernard Arnault’s 2018 profit matches to his opponent Jeff Bezos, the founder of Amazon who is the World’s wealthiest person. He has managed to add 15.2 billion dollars to his holding, and now the worth of the company is at 140.1 billion dollars on the index of Bloomberg. Mark Zuckerberg, the co-founder of Facebook Inc. had a good start in 2019; the company shares were jumping by 15.3 billion dollars.

With Korean face masks becoming increasingly popular, they have the ability to do wonders to your skin besides building fortunes like in Kim Jung-Woong’s case.

The growing importance given to skincare and beauty has helped a few Koreans amass plenty of wealth as customers look for the ever elusive dewy look. Large cosmetic manufacturers and banks have started noticing the impact of Korean beauty products.

In October 2018, the Goldman Sachs Group Inc acquired five percent of Kim’s GP Club Co. Ltd., a company that manufactures lipsticks, creams, and other beauty products and is valued at $1.3 billion. Kim Jun-Woong and his family own the remaining 95 percent of the company.

According to Son Moon-ho, Chief Operating Officer at GP Club, the investment bank had been following the company. The Goldman Sachs spokesman declined to comment about the deal.

Unilever spent around 2.27 billion euros in 2017 to acquire a majority of Carver Korea Co., a skincare product manufacturer. It bought out stakes held by Bain Capital, Goldman and the company’s founder, Le Sang-rok.

The Credit Suisse Group AG bought a three percent stake for about 40 billion won in L&P Cosmetic Co., the Mediheal mask sheet manufacturer.

South Korea is only a quarter of the size of Japan, and yet is the sixth largest exporter of cosmetics in the world in 2017, as per data provided by the Korea Trade-Investment Promotion Agency. In 2018, the company logged almost $4.6 billion of exports in the first 9 months. The demand from China has helped drive up the figure by almost 31 percent compared to last year.

Kim initially started off his career by selling cosmetics to Chinese wholesalers and establishing JM Solution, his own brand in 2016. It took off right from the beginning and gained popularity on Taobao, Alibaba’s e-commerce platform.

In 2017, geopolitical tensions struck the Korean beauty market after South Korea gave permission to the U.S. military in order to install the Terminal High Altitude Area Defense system to counter nuclear threats from North Korea. Beijing considered this move as a security threat and urged a boycott of Korean products.  Gp Club took advantage of these tensions to pull ahead of the competition.

The company also introduced new products like the Honey Luminous Royal Propolis Mask and lowered prices so that customers in mainland China were able to afford it compared to the foreign goods which were priced higher.

City Football Group (CFG) is the company that acquires Manchester City is planning to buy a club in India, reported by CFG executive Ferran Soriano. City Football Group also owns New York City, Melbourne City and Premier League club. The company has shares in four other sites across the world.

The owners of Premier League champions Manchester City are thinking of making investments in Indian club so as to expand their presence in Asia, Ferran Soriano mentioned.

The City Football Group acquires seven different clubs namely, League Soccer’s New York City FC, Japan’s Yokohama F Marinos, Spanish side Girona and A-League side Melbourne City. They are hopeful of getting through the deal to buy a club in India by the end of this year.

Ferran Soriano quotes, and was reported by BBC, “The company owners show interest in few markets and countries wherein the people have a genuine passion for football and of bigger opportunities that has been noticed in China and now even in India.”

The City Football Group has recently invested in Chinese team Sichuan Jiuniu, two weeks ago and has purchased shares of them, and now the company is heading to invest in India, Soriano mentioned.

From over two years, the CFG was studying the Indian market and observing closely over India and with this developments, the company needs to be patient and we will able to reach out a deal of investing in India by this year, he added.

CFG was established in 2013 when New York City FC was acquired and was the second team under CFG ownership next to Manchester City. From the past six years, CFG was able to make investments in five various clubs and Soriano is hopeful about more investments to come.

Soriano added, “We are not sure after 10 years what will happen, but the company might have 2 to 3 teams more. Although about the vision which we had from 6 years, I believe the company may have at least two to three more clubs.”

The CFG group has acquired stakes in Melbourne City, New York City, Yokohama F Marinos, Atletico Torque, Girona and Sichuan Jiuniu.