The Wisdom of Old School Self-Made Billionaires

 

Billionaire advice motivational video on the wisdom of old school self-made billionaires; rare and priceless advice that can change your life and the way you do your business! Very informative video!

Sheldon Gary Adelson (Net worth: 34.6 billion USD) is an American business magnate, investor, and philanthropist. He is the founder, chairman and chief executive officer of Las Vegas Sands Corporation.

Steve Ballmer (Net worth: 32.8 billion USD) is an American chief executive who was the former chief executive officer of Microsoft from January 2000 to February 2014, and is the current owner of the Los Angeles Clippers.

Charles Koch (Net worth: 48.6 billion USD) is an American businessman, political donor and philanthropist. He is co-owner, chairman of the board, and chief executive officer of Koch Industries.

 

 

 

How getting fired, turned Melissa Ben-Ishay passion for baking cupcakes into a successful business

 

Entrepreneur

When Melissa Ben-Ishay got fired, she immediately called her brother. He encouraged her to go home, bake her famous cupcakes and reassured her they would figure out how to turn her hobby into a business. Within a week, Baked by Melissa was up and running. Fourteen stores and a cookbook later, Melissa’s bite-size treats are a huge success. She sat down with Jessica Abo to talk about her company’s growth, the friends who helped her get here and what she’s created to help you celebrate Valentine’s Day.

 

 

 

The company keeping alive the tradition of building wooden surfboards

 

Grain Surfboards are built through an additive process that has much in common with traditional wooden ship-building. Planks of wood are cut and glued onto an internal wood frame before being sanded down to their final shape.

Video by Brian Schildhorn, David Nicholson

 

 

 

 

Ikea Swedish furniture founder Ingvar Kamprad has died at the age of 91

(qlmbusinessnews.com via bbc.co.uk – – Mon, 29 Jan 2018) London, Uk – –

The Swedish founder of the Ikea furniture chain, Ingvar Kamprad, has died at the age of 91, the company has announced.

Mr Kamprad – who pioneered flat-pack furniture – died at his home in Småland, Ikea confirmed in a statement.

The company said that Mr Kamprad was “one of the greatest entrepreneurs of the 20th century”.

The billionaire, who was born in 1926 in Småland, founded Ikea at the age of 17.

He used some money his father had given him as a gift for performing well at school despite his dyslexia.

In the later years of his life, Mr Kamprad faced questions over his past links to fascist groups – something he admitted, but said was a “mistake”.

In a statement on Sunday, Ikea said that Mr Kamprad had “peacefully passed away at his home”.

“He worked until the very end of his life, staying true to his own motto that most things remain to be done,” it added. Mr Kamprad eventually stepped down from the company’s board in 2013, at the age of 87.

“Ingvar Kamprad was a great entrepreneur of the typical southern Swedish kind – hardworking and stubborn, with a lot of warmth and a playful twinkle in his eye,” the company said.

His company’s designs became popular in part because of their simplicity and value.

Mr Kamprad is reported to have come up with the idea of flat-pack furniture after watching an employee remove the legs from a table in order to fit it into a customer’s car.

Furniture designer Jeff Banks said that Mr Kamprad’s creations radically changed how people made and designed products for the home.

“People have tried to reproduce and copy that, but unsuccessfully,” he said.

Mr Banks added that the designs produced and sold through the retailer made good use of recyclable products, adding that Mr Kamprad was “head and shoulders above the rest”.

Mr Kamprad was renowned for his devotion to frugality, reportedly driving an old Volvo and travelling by economy class.

In a 2016 interview with Swedish television channel TV4, Mr Kamprad said that it was “in the nature of Småland to be thrifty”.

“If you look at me now, I don’t think I’m wearing anything that wasn’t bought at a flea market,” he said.

He told the channel that he built his business on a “local ethos”.

“We have Småland in the blood, and we know what a krona is – even though it is not as much as it was when we bought candy and went to elementary school,” he said, referring to the Swedish currency.

People took to social media on Sunday to pay their respects to the “greatest Swedish entrepreneur to have ever lived”.

Swedish Foreign Minister Margot Wallstrom tweeted her condolences, saying that Mr Kamprad had “put Sweden on the world map”.

Ikea: Key facts

  • Ikea started in 1943 and now has 389 stores worldwide
  • The name comes from Mr Kamprad’s initials (IK), together with the name of the farm he grew up on – Elmtaryd (E) – and the nearby village Agunnaryd (A)
  • The company’s retail sales totalled 36.4bn euros ($43bn, £30bn) in 2016
  • Its flat-pack furniture became iconic both for its affordability and for its picture-based assembly instructions

Ikea has remained privately-owned under a Dutch trust operated by the Kamprad family. Its complex business structure has drawn controversy and the European Commission said last year that it had launched an investigation into Ikea’s tax arrangements.

The European Green Party said that the arrangement had allowed the company to avoid paying some €1bn in tax between 2009 and 2014.

A spokesman for Dutch-based Inter Ikea, one of the company’s two divisions, said that the company had been taxed “in accordance with EU rules”.

In an interview in the 1980s, Mr Kamprad said that his vision for Ikea was that it would be a company that would make life easier for its customers.

In more recent years, Mr Kamprad had faced scrutiny over his past links to Nazi groups.

The tycoon revealed some elements of his past in a book in 1988, admitting that he was a close friend of the Swedish fascist activist Per Engdahl, and a member of his New Swedish Movement between 1942 and 1945.

He said that his involvement was youthful “stupidity” and the “greatest mistake” of his life.

But a 2011 book by Elisabeth Asbrink alleged details beyond what Mr Kamprad had previously admitted. She wrote that he was an active recruiter for a Swedish Nazi group, and stayed close to sympathisers well after World War Two.

At the time a spokesman for Mr Kamprad said he had long admitted flirting with fascism, but that there were now “no Nazi-sympathising thoughts in Ingvar’s head whatsoever”.

 

 

 

 

Mitch Langstein director for Cellular Accessories: Make Your Business Dream Your Reality

 

Mitch Langstein is the marketing director for Cellular Accessories. Mitch explains what entrepreneurship means to him and how he knew he wanted to be an entrepreneur out of college. Mitch talks about where he got the idea for his business and how he turned that idea into a reality!

 

Marcus Lemonis’s Top 10 Rules For Success

 

He’s an businessman, inventor, television personality and philanthropist. He is currently the chairman and CEO of Camping World and Good Sam Enterprises, and the star of The Profit, a CNBC reality show about saving small businesses. He leads close to 6,000 employees in over 100 cities across the US. He’s Marcus Lemonis and here are his Top 10 Rules for Success.

 

 

 

 

 

 

‘World’s richest 1% accumulate 82% of the wealth’, says Oxfam

(qlmbusinessnews.com via bbc.co.uk – – Tue, 23 Jan 2018) London, Uk – –

The gap between the super rich and the rest of the world widened last year as wealth continued to be owned by a small minority, Oxfam has claimed.

Some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all, the charity said.

Oxfam said its figures – which critics have queried – showed a failing system.

It blamed tax evasion, firms’ influence on policy, erosion of workers’ rights, and cost cutting for the widening gap.

Oxfam has produced similar reports for the past five years. In 2017 it calculated that the world’s eight richest individuals had as much wealth as the poorest half of the world.

This year, it said 42 people now had as much wealth as the poorest half, but it revised last year’s figure to 61. Oxfam said the revision was due to improved data and said the trend of “widening inequality” remained.

‘Unacceptable’

Oxfam chief executive Mark Goldring said its constant readjustment of the figures reflected the fact that the report was based “on the best data available at the time”.

“However you look at it, this is an unacceptable level of inequality,” he said.

Oxfam’s report coincides with the start of the World Economic Forum in Davos, a Swiss ski resort. The annual conference attracts many of the world’s top political and business leaders.

Inequality typically features high on the agenda, but Mr Goldring said that too often “tough talk fades away at the first resistance”.

Analysis by Anthony Reuben, BBC Reality Check

It’s really hard working out how much wealth the super-rich and the very poor have.

The super-rich tend not to publicise their worth and many of the world’s poorest countries keep poor statistics.

To illustrate that, this time last year, Oxfam told us that eight individuals have as much wealth as the poorest half of the world’s population. Now it has revised that figure to 61 people for last year, falling to 42 people this year – that’s a pretty big revision.

And there are other caveats around the data on which all this is based, such as that the people on the list with the lowest wealth are not necessarily poor at all – they may be highly qualified professionals with large amounts of student debt, for example, or people with high incomes but enormous mortgages.

But whether it’s eight people, 42 people or 61 people who have the same wealth as half of the world, there is still great wealth inequality around the world, which is the message Oxfam is taking to Davos.


The charity is urging a rethink of business models, arguing their focus on maximising shareholder returns over broader social impact is wrong.

It said there was “huge support” for action with two thirds (72%) of 70,000 people it surveyed in ten countries saying they wanted their governments to “urgently address the income gap between rich and poor”.

But Mark Littlewood, director general at free market think tank The Institute of Economic Affairs, said Oxfam was becoming “obsessed with the rich rather than the poor”.

“Higher taxes and redistribution will do nothing to help the poor; wealth is not a fixed pie. Richer people are also highly taxed people – reducing their wealth won’t lead to redistribution, it will destroy it to the benefit of no one,” he added.

It was a criticism echoed by Sam Dumitriu, head of research at another free market think tank – the Adam Smith Institute – who said the charity’s inequality stats “always paint the wrong picture”.

“In reality, global inequality has fallen massively over the past few decades.

“As China, India and Vietnam embraced neoliberal reforms that enforce property rights, reduce regulations and increase competition, the world’s poorest have received a massive pay rise leading to a more equal global income distribution.”

How does Oxfam work out the figures?

Oxfam’s report is based on data from Forbes and the annual Credit Suisse Global Wealth databook, which gives the distribution of global wealth going back to 2000.

The survey uses the value of an individual’s assets, mainly property and land, minus debts, to determine what he or she “owns”. The data excludes wages or income.

The methodology has been criticised as it means that a student with high debts, but with high future earning potential, for example, would be considered poor under the criteria used.

But Oxfam said even if the wealth of the poorest half of the world was recalculated to exclude people in net debt their combined wealth was still equal to that of just 128 billionaires.

By Katie Hope

UK’s Youngest Millionaire Who Started His Online Business Whilst Studying For His A-levels

Akshay Ruparelia was just 17 years-old when he started his online business, all whilst studying for his A-levels and acting as a carer for his parents, who are both deaf. Akshay joins Holly and Phillip to talk about his business which is currently estimated to be worth over £12 million!

 

Tony Robbins Top Ten Rules For Success

Evan Carmichael top ten rules for success/youtube

If you’re looking for ways to Find fulfillment, change your story, and own your business, this video is for you. Grab a snack and chew on today’s lessons from a man who went from having 7 fathers growing up and leaving home at 17 due to an abusive home to founding companies that earn $6 billion in annual sales and advises Presidents. He’s Tony Robbins and here’s  his Top 10 Rules for Success, volume 3.

 

The Boutique Evolution of JD Luxe Mobile Fashion ‘truck’ and mortar store

 

Business Rockstars/Youtube

This office is not like the others! Check out the mobile boutique evolution of JD Luxe & hear how this stylish entrepreneur followed her dream of starting a ‘truck’ & mortar store out of a 1976 van!

 

 

 

Automatic workplace pension saving to begin at aged 18

 

(qlmbusinessnews.com via bbc.co.uk – – Mon, 18  Dec 2017) London, Uk – –

Every worker aged 18 or over will begin saving into a workplace pension unless they opt out, under government plans to extend its automatic enrolment scheme.

At present, the scheme means employers must enrol staff aged 22 and over and earning above £10,000 into a pension.

Ministers hope to reduce the minimum age to 18 in the mid 2020s, and say it will affect about 900,000 young people.

The system has been credited with ensuring more prepare for older age, but it means extra costs for employers.

It has been introduced gradually since October 2012.

‘Habit of saving’

Work and Pensions Secretary David Gauke told the BBC’s Andrew Marr Show there had been “greater saving for pensions” since automatic enrolment came into effect.

“We want to extent that to young people under 22.

“I think we will get more people into the habit of saving.”

He admitted increases in contributions from next year “might put people off”, but added “the evidence is that opt-out rates have been lower than people predicted”.

Ollie Browning, 21, welcomed the encouragement to save, adding that pensions had “not really crossed my mind yet”.

He told the BBC: “I think especially in London, [I have] moved jobs quite frequently, tend not to stay in one place too long, so pensions have always sort of been lower down the list of things I’ve been conscious of.”

However, one industry figure was unimpressed by aspects of the Department of Work and Pensions’ wider pensions review.

Ex-pensions minister Steve Webb, director of policy at pensions firm Royal London, said: “There are some great ideas in this review, including starting pension saving at age 18 and making sure that every pound that you earn is pensionable.

“But the proposed pace of change is shockingly lethargic.

“Talking about having reforms in place by the mid 2020s risks leaving a whole generation of workers behind.”

What is automatic enrolment?

Unless they are already signed up to a workplace pension, a slice of a worker’s pay packet is automatically diverted to a pension savings pot, which is invested until retirement.

Their employer also makes a contribution, as does the government.

Individuals have the option to opt out if they wish to, although that will mean losing the employers’ contribution.

Anyone on a short-term contract, working where an agency pays their wages, or who is on maternity, adoption or carer’s leave should still be eligible.

The total minimum contribution is currently set at 2% of earnings (0.8% from the worker, 1% from an employer, and 0.2% as tax relief from the government).

From April 2018, it will increase to 5% of earnings (2.4% from the worker, 2% from the employer, and 0.6% as tax relief).

From April 2019 onwards, it will rise to 8% of earnings (4% from the individual, 3% from the employer, and 1% as tax relief).

The plan to lower the starting age follows a review of the system.

Those earning less than £10,000 can ask their employer to enrol them.

Iona Bain, founder of the Young Money blog, said the move was still inadequate in solving a long-term pension crisis for the young.

She said that school leavers, facing a “storm of financial pressures”, should have the same National Living Wage as those aged 25 and over, if they were expected to contribute into a pension.

By Kevin Peachey