LARRY KUDLOW: Biden’s manic tax-hike policies would decimate the economy
Fact: Former 2024 GOP presidential candidate Vivek Ramaswamy criticizes President Biden’s energy and tax policies on ‘Kudlow.’
billionaires
10 Cypriots on Forbes 2024 billionaire list
– Vinod Adani is the top-ranking Cypriot on the Forbes World’s Billionaires List for 2024 with a net worth of billion.
– Adani, aged 75, resides in Dubai but has Cypriot citizenship.
Ten Cypriots on the 2024 Forbes billionaires list
Ten Cypriot citizens are listed on the 2024 Forbes list of billionaires. Leading the group is Vinod Adani, ranked 88th globally with a net worth of US.3 billion. Other prominent Cypriot billionaires include John Fredriksen, Yakir Gabay, Igor Makarov, Sergey Dmitriev, Valentin Kipyatkov, the Hadji-Ioannou siblings, and Vladimir Krupchak.
Russian billionaires see collective wealth near $600 bln – Forbes
Russia’s richest people saw their fortunes increase by billion over the past year, reaching a collective wealth of 7 billion. Vagit Alekperov, former president of Lukoil, is now the wealthiest person in Russia. The total wealth of Russian billionaires had been estimated at 6 billion before the Ukraine invasion in 2021. Despite Western sanctions, which caused their total wealth to drop to 3 billion in 2022, high commodity prices and war-focused economic growth have helped in the recovery. Alekperov’s fortune rose to .6 billion, securing his top spot in Russia. Leonid Mikhelson from Novatek is in second place, with a wealth of .4 billion. Putin has praised the resilience of the Russian economy against Western sanctions, emphasizing the country’s GDP growth of 3.6% last year. However, the economy’s heavy reliance on state-funded military production for the war in Ukraine poses challenges for improving living standards in Russia. The IMF predicts a GDP growth of 2.6% for Russia this year, but foresees difficulties due to population outflows and technology shortages. Russian business people have benefited from the Western corporate exodus, with many companies selling assets cheaply or having their operations seized.
Many GOP billionaires balked at Jan. 6. They’re coming back to Trump.
Nelson Peltz expressed remorse for voting for Donald Trump after the Capitol insurrection on Jan. 6, 2021, but later had breakfast with Trump and other billionaires at his mansion in Palm Beach, Florida. Peltz has stated that he would “probably” vote for the GOP front-runner in 2024. Elite donors who were once critical of Trump are now rediscovering their affinity for him due to fears of President Biden’s tax agenda. Some billionaires are considering supporting Trump financially, including Larry Ellison and Richard Uihlein, while others like Ken Griffin and Peter Thiel remain resistant. Some tech investors and leaders in Silicon Valley who were alienated by Trump’s election-fraud crusade are now coming around to support him. Gary Cohn, who was once critical of Trump, has recently spoken positively about the former president. Robert Bigelow, who criticized Trump after the Capitol riot, has pledged million to a pro-Trump campaign group. Trump is facing financial challenges and is seeking support from wealthy donors to fund his campaign.