The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
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Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Twitter and Facebook have suspended numerous accounts that are believed to be tied to a state-backed information campaign originating from inside China.Technologyread more
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Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
In a statement Monday, Barr said he will name Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons.Politicsread more
As the European debt crisis deepens, many ordinary citizens have felt the impact of deep cuts to government benefits combined with cuts in public- and even the private-sector wages. But crisis-hit Europe is also home to many ultra-wealthy individuals whose personal fortunes are on the rise.
While Spain may soon require a full bailout, one of its citizens recently became the wealthiest person in the euro zone with a personal fortune of $40.2 billion, according to Wealth-X, a provider of intelligence on ultra-high net worth (UHNW) individuals. Four more of Europe’s richest are French, with combined fortunes of $72.7 billion.
It is unsurprising that calls to tax the euro zone's wealthiest members are gaining traction. New French president Francois Hollande is doubling taxes for those with assets valued above 4 million euros ($4.9 million) and in Germany a new plan is being floated calling for a “forced loan” program, in which the wealthy lend money to their governments, to be paid back over time.
Click ahead to find out who are the ten richest people in the euro zone and how they made their money.
By Bianca Schlotterbeck
Posted 26th of July 2012