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Fifty-three billion smackers. That's how much telecom tycoon Carlos Slim Helu, the wealthiest human on the planet, is worth by Forbes' latest exhaustive count. (Actually, the tally was $53.5 billion--when you're dealing in 10 digits, every decimal place counts.)
Those kinds of numbers can't help but make you think: What exactly does it take to amass that kind of wealth? More important, do you have it?
For the third time in three years, the world has a new richest man.
Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil, Mexican tycoon Carlos Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World's Billionaires.
Slim's fortune has swelled to an estimated $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil, of which Slim owns a $23 billion stake, were up 35% in a year.
Under the Immigration Act of 1990, the U.S. Congress set aside 10,000 annual visas for foreign investors looking for opportunities in America. Those carrots are coming in handy during what remains a debilitating credit crunch for U.S. entrepreneurs. Rather than wait a year or longer for other immigrant visas, foreign investors--through the so-called EB-5 program--can snag a slice of equity and a quick-and-dirty U.S. visa in just three-to-six months; plus, unlike other immigrant visas that might expire in a few years, the EB-5 flavor offers permanent residency. EB-5 minimum requirements: a $1 million investment from a lawful source in a new or existing commercial enterprise that directly creates at least 10 U.S. jobs. Investors can put up as little as $500,000 if the company is in a rural area or in a county sporting 150% of the average national unemployment rate. (Canada has a similar program, called the Canadian Business Immigrant Investment Program, though it doesn't impose any job-creation requirements.)
In the two years I have been writing a column for Forbes, no piece has received more responses than the one published just prior to the last presidential election. In it, I made nine predictions regarding the impact an Obama administration would have on the legal landscape, especially with regard to small businesses.
Now that we are at the beginning of a new decade, as well as the president's second year, I thought it would be interesting to see how I did. For those keeping score, I nailed all but one.
I'll admit I like being right. Too bad prescience often comes with a price.
In the introduction, I noted that the triumvirate of President Obama, Sen. Reid and Speaker Pelosi would be "potentially one of the most liberal governments the country has had in decades." I was wrong: This government may be the most liberal in the history of the United States.
The statistics surrounding the survival rate for small businesses have long been subject to fervid debate. Depending on who you're talking to, the predicted life span for a startup can elicit grim to cautiously optimistic responses.
Lessons learned, key qualities and insights that will help an entrepreneur to succeed.
Selling your business to another individual or company is one of four usual choices for liquidating your equity. Here's a review of the pros, cons and alternatives that may help you evaluate your plans.
When developing a budget, it is important to estimate profits annually for the next three years as well as to develop a detailed month-by-month budget of sales, expenses, and cash flow amounts for the same three years.
The devils plaguing entrepreneurs who outsource are indeed in the details. Getting it right involves sidestepping five common pitfalls and following five commonsense practices. Basic to a successful outsourcing relationship: Does everyone agree on what the deliverables will be?
Specialized or technical advice or skills not closely related to your company's core objectives can often be handled effectively by outside contractors. Typically less expensive that hiring full-time staff, potential outsource services should be carefully considered with these topics in mind: expertise, experience, proposals, and attitude.
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