All totaled, California has 111 billionaires – more than any other state. Indeed, if the Golden State were its own country, it would be tied with Russia for third-most billionaires in the world, behind only the United States and China.
More than one-third of California’s billionaires are in tech, focused in Silicon Valley. San Francisco has 20 billionaires alone, second in U.S. cities only to New York City’s 66. Palo Alto, Calif. ranks eighth among U.S. cities with nine billionaires, and Woodside, Calif. is tied for 10th with eight. In total, California billionaires personally hold assets worth $485 billion, more than the entire GDP of all but 24 countries in the world.
There are seven billion dollar property tycoons living in California, many of them built their portfolio developing business properties. Over the next few months, we’ll share them all with you….but for now, here’s the list…
|Rank||Name||Net Worth||Age||Source||Country of Citizenship|
|#60||Donald Bren||$15.8 B||82||real estate||U.S.A.|
|#328||John A. Sobrato & family||$4.8 B||75||real estate||U.S.A.|
|#443||Edward Roski Jr||$3.8 B||75||real estate||U.S.A.|
|#755||George Argyros||$2.4 B||77||real estate, investments||U.S.A.|
|#820||Richard Peery||$2.2 B||75||real estate||U.S.A.|
|#960||John Arrillaga||$1.9 B||76||real estate||U.S.A.|
|#996||Donald Sterling||$1.9 B||78||real estate||U.S.A.|
These days it seems like becoming a billionaire isn’t as difficult as it used to be. Forbes billionaires list 2014 features 268 newcomers, resulting in a record 1,645 billionaires on earth with an aggregate net worth of $6.4 trillion.
Forbes tallies that roughly two-thirds of the billionaires built their own fortunes, 13% inherited them and 21% have been adding on to fortunes they received.
Thanks to the tech boom, and strong stock market, the U.S. once again leads the world with 492 billionaires, followed by China with 152 and Russia with 111. Algeria, Lithuania, Tanzania and Uganda all debut on the list, and fir the first time an African – Aliko Dangote – of Nigeria, has broken into the top 25. Turkey lost 19 billionaires due to soaring inflation, a sagging stock market and a declining value in its currency. Indonesia, whose currency tumbled 20% against the dollar, now has 8 fewer ten-figure fortunes. Altogether 100 people dropped out of the ranks, while another 16 passed away.
Facebook’s Mark Zuckerberg is the year’s biggest gainer. His fortune more than doubled growing from $15.2 billion, to $28.5 billion, as shares of his social network soared. New Facebook billionaires include the company’s COO, Sheryl Sandberg, and longtime vice president Jeff Rothschild. Also, thanks to a $19 billion deal (including restricted stock) with Facebook, WhatsApp founders Jan Koum and Brian Acton join the ranks of Silicon Valley’s wealthiest for the first time. In total, 26 newcomers to the list made their fortunes come from technology, 10 of whom are American, including Dropbox CEO Drew Houston and Workday cofounder Aneel Bhusri. Other notable newcomers include World Wrestling Entertainment CEO Vince McMahon, fashion king Michael Kors and Denise Coates of UK online betting firm Bet365.
Here is Forbes 2014 list of the 60 richest people in the world.
|Rank||Name||Net Worth||Age||Source||Country of Citizenship|
|#1||Carlos Slim Helu & family||$82.8 B||74||telecom||Mexico|
|#2||Bill Gates||$80.9 B||58||Microsoft||U.S.A.|
|#3||Warren Buffett||$67.3 B||83||Berkshire Hathaway||U.S.A.|
|#4||Amancio Ortega||$62.2 B||78||retail||Spain|
|#5||Larry Ellison||$51.4 B||70||Oracle||U.S.A.|
|#6||Charles Koch||$41.9 B||78||diversified||U.S.A.|
|#6||David Koch||$41.9 B||74||diversified||U.S.A.|
|#8||Christy Walton & family||$37.6 B||59||Wal-Mart||U.S.A.|
|#9||Liliane Bettencourt & family||$37 B||91||L’Oreal||France|
|#10||Jim Walton||$35.2 B||66||Wal-Mart||U.S.A.|
|#12||Alice Walton||$34.8 B||64||Wal-Mart||U.S.A.|
|#13||Li Ka-shing||$34.2 B||86||diversified||Hong Kong|
|#14||Sheldon Adelson||$33.2 B||81||casinos||U.S.A.|
|#15||Mark Zuckerberg||$33 B||30||U.S.A.|
|#16||Michael Bloomberg||$32.9 B||72||Bloomberg LP||U.S.A.|
|#17||Stefan Persson||$32.7 B||66||H&M||Sweden|
|#18||Bernard Arnault & family||$31.9 B||65||LVMH||France|
|#19||Larry Page||$31.3 B||41||U.S.A.|
|#20||Jeff Bezos||$31.2 B||50||Amazon.com||U.S.A.|
|#21||Sergey Brin||$31.1 B||41||U.S.A.|
|#22||Michele Ferrero & family||$27 B||89||chocolates||Italy|
|#23||Carl Icahn||$26.4 B||78||investments||U.S.A.|
|#24||David Thomson & family||$24.5 B||57||media||Canada|
|#25||Aliko Dangote||$24.4 B||57||cement, sugar, flour||Nigeria|
|#26||Mukesh Ambani||$23.2 B||57||petrochemicals, oil & gas||India|
|#27||George Soros||$23 B||84||hedge funds||U.S.A.|
|#28||Jorge Paulo Lemann||$22.6 B||75||beer||Brazil|
|#29||Lee Shau Kee||$22.4 B||86||diversified||Hong Kong|
|#30||Prince Alwaleed Bin Talal Alsaud||$22 B||59||investments||Saudi Arabia|
|#31||Steve Ballmer||$22 B||58||Microsoft||U.S.A.|
|#32||Len Blavatnik||$21.6 B||57||diversified||U.S.A.|
|#33||Dieter Schwarz||$21.1 B||74||retail||Germany|
|#34||Harold Hamm||$21 B||68||oil & gas||U.S.A.|
|#35||Forrest Mars Jr||$20.4 B||83||candy||U.S.A.|
|#35||Jacqueline Mars||$20.4 B||74||candy||U.S.A.|
|#35||John Mars||$20.4 B||78||candy||U.S.A.|
|#38||Leonardo Del Vecchio||$19.4 B||79||eyeglasses||Italy|
|#39||Phil Knight||$19.2 B||76||Nike||U.S.A.|
|#40||Dilip Shanghvi||$19.1 B||58||pharmaceuticals||India|
|#41||Michael Dell||$19.1 B||49||Dell||U.S.A.|
|#42||Alisher Usmanov||$19 B||60||steel & mining, telecom, investments||Russia|
|#43||Theo Albrecht Jr & family||$18.5 B||63||Aldi, Trader Joe’s||Germany|
|#44||Michael Otto & family||$18.4 B||71||retail, real estate||Germany|
|#45||Abigail Johnson||$18.1 B||52||money management||U.S.A.|
|#46||Gina Rinehart||$17.8 B||60||mining||Australia|
|#47||Lui Che Woo||$17.8 B||84||casinos||Hong Kong|
|#48||Masayoshi Son||$17.7 B||57||internet, telecom||Japan|
|#49||Mikhail Fridman||$17.2 B||50||oil, banking, telecom||Russia|
|#50||Susanne Klatten||$17.2 B||52||BMW, pharmaceuticals||Germany|
|#51||Charles Ergen||$16.9 B||61||Dish Network||U.S.A.|
|#52||Luis Carlos Sarmiento||$16.8 B||81||banking||Colombia|
|#53||Viktor Vekselberg||$16.7 B||57||metals, energy||Russia|
|#54||Laurene Powell Jobs & family||$16.6 B||50||Apple, Disney||U.S.A.|
|#55||Paul Allen||$16.3 B||61||Microsoft, investments||U.S.A.|
|#56||Azim Premji||$16.2 B||69||software||India|
|#57||Anne Cox Chambers||$16.2 B||94||media||U.S.A.|
|#58||German Larrea Mota Velasco & family||$16.1 B||60||mining||Mexico|
|#59||Joseph Safra||$16 B||75||banking||Brazil|
|#60||Donald Bren||$15.8 B||82||real estate||U.S.A.|
Get the full list @ http://www.forbes.com/billionaires/list/
If you’re thinking about setting up a business in the US, there is no better city to choose than Los Angeles. Known worldwide for the streets of Hollywood, this urban metropolis is an excellent place to rent an office and work your way to corporate success. Those who make the move and establish themselves in this West Coast paradise will find the following benefits awaiting them and their colleagues once they arrive.
- You’re located in an international hub. The great city of Los Angeles is connected to countries all over the globe with flights heading to just about every important capital. This means you will be at the centre of whatever industry you’re in by establishing an office in this Californian metropolis. You’ll have easy access to overseas markets, manufacturers and retailers who can fly goods and services directly to your door. This will make running a global business in a successful manner so much easier and far more affordable.
- LA is the creative capital of the world. Although this is known primarily for Hollywood, it also has a thriving music, art and video games community. In fact, Los Angeles is often referred to as the Creative Capital of the World thanks to its widespread artistic population. If you want to be at the heart of all this innovation and progress, there is no better option than starting a business here! You will have easy access to some of the brightest minds in the country and potentially tap into their ideas and talent.
- It is the largest manufacturing base in the US. Despite the recession and recent job losses, Los Angeles still remains the largest manufacturing hub within America. Thus, the LA business owner will be situated close to some of the top factories in the country, cutting down on transport costs and allowing them to produce whatever products and parts they want to within a close vicinity. Since any business relies on speed and low costs, LA is certainly a smart manufacturing choice.
- Real estate options are incredibly diverse. Since this is one of America’s prime commercial centres, new business owners will find a staggering array of properties. From shared workspaces to full-blown factories, you can easily find the ideal place to run your business. In addition, renting Los Angeles office space in a modern business centre will also put you within close proximity to some of the country’s largest finance districts, ports, industrial areas and airports. For sheer flexibility, no other city provides as many opportunities for the American business owner.
- California is the most liberal state in America. The US is certainly a diverse country with different ideals and perspectives from state to state. If you want to work in a truly liberal area though, then California is one of the freest thinking states in the US. For business owners who think outside the box, this can be an excellent place to inspire innovation and progress in your company.
- The weather is a real business motivator. Anyone working in the far north of America knows how difficult it can be to run a company once the snows arrive. The good news is that there is an easy way to escape these issues: relocating to the much warmer climes of the Los Angeles City area! Not only can you enjoy moderate temperatures during the winter but the summertime here is absolutely spectacular. There is no better place to run a business in the US for those seeking a temperate, sunny environment.
- Crime rates are on the decrease. One aspect of Los Angeles that may not seem too appealing is its crime. Known around the country for frequent gang violence, this may be the one factor that is making you wary. You needn’t worry though as increased law enforcement has now resulted in very real improvements. The city of LA currently has the lowest crime rates of any city over 2 million people in the US. This means there are far worse areas within America that you could consider moving your company to.
Hopefully this has convinced you to make the first moves to starting your own Los Angeles business. Within this competitive, motivating environment, hopefully you’ll shoot forward towards success. If you do so, the good news is that you will now be living and working in one of America’s best cities. Reaching your commercial goals doesn’t mean sacrificing those personal freedoms after all, especially if you rent an office in the great city of Los Angeles!
Bravo! 2014 is the year that Los Angeles area office vacancy rates drop below the 15% threshold for the first time since the Great Recession. This is absolutely fabulous because the Los Angeles office real estate market has been in neutral for the previous four years. All the experts are predicting better days for the Los Angeles office real estate market…
◆ Employment Forecast: In Los Angeles County, the unemployment rate fell to 8.1% in June, down from 8.2% in May and from the year ago rate of 10.0%. According to the Employment Development Department, in June, Los Angeles County added 4,800 jobs. In 2014 L.A. County has created 88,800 jobs – an increase of 2.2%. Office-using employment will grow 2.6% as 26,000 positions are generated.
Long term prospects are also healthy. The most recent Allen Matkins/UCLA Anderson Forecast Survey concludes that goods movement through California’s ports has resulted in real estate developers continuing to be broadly optimistic on the outlook through 2017.
◆ Vacancy Forecast: According to Marcus and Millichap, nearly 5 million square feet will be absorbed in 2014. Thanks to minimal construction, vacancy rates will drop to 14.2%.
◆ Rent Forecast: After a 3.9% rise in 2013, average full-service rents will climb another 3.9% in 2014 to $30.86 per square foot.
◆ Construction Forecast: This year construction will be minimal – 550,000 square feet of office space will come online in 2014, down from 1.2 million sq.ft. in 2013. Of the new office space, some large office renovations are fully leased prior to coming online.
◆ 2014 Los Angeles National Office Market Rank: 5, Up 3 Places. Strong rent gains and high absolute job growth supported Los Angeles’ three-place rise in the ranking.
◆ Investment Forecast: The potential for rising interest rates and an increase in loans coming due should strengthen the office market. Top-tier properties in West Los Angeles – which have nearly recovered from the recession – will remain among the most attractive targets this year.
In the owner/user market, local buyers will target well-located properties on a price-per-square-foot basis. Investors looking for value will think about the San Fernando Valley and Downtown. Average cap rates for Class A properties range from 6% near the coast to above 7% in secondary areas.
For more information please contact Jodi Summers and the SoCal Investment Real Estate Group @ Sotheby’s International Realty – email@example.com or 310.392.1211, and let us move forward together.
by Jodi Summers
Office space has changed drastically in the past decade. Gone are cubicles and forced air. What’s hot are bright and breezy multiuse open spaces which use less square footage than their predecessors. Allow us to share with you some cutting edge concepts in office design.
Google’s stimulating new workspace in Tel Aviv. Google creates environments to allow creative ideas to easily flow.
92% of young professionals interviewed said they would be more inclined to work for an environmentally-friendly company.
Office space abundant in light with inspiring design.
Three complementary design firms have joined together to share a loft office space.
Shared office or executive office suites.
The office barns the workspace is completely open, without partitions and without hierarchy. Desks and local storage are mobile and a system of power distribution drops power and network down to the desks from over head. It’s unlike any corporate office space that came before it and in fact has many of the characteristics of smaller businesses.
Open office space circa 1923
by Jodi Summers
Corporations are learning that their employees are happier if they work at home at least one day a week. Going one step beyond, for some careers and small business owners the home office and related tax deductions have become a legitimate tax deduction.
According to data from the Survey of Income and Program Participation, in 1997 7% of workers (9.2 million individuals) reported working at home at least one day a week. By 2010, that total had grown to 9.4% (13.4 million), an increase of more than four million or 35%.
The geographic distribution of those workers who primarily work at home (most days) shows interesting geographic clustering. Using data from the 2012 Census Bureau American Community Survey, the map above charts the share of the workforce (age 16 and over) who report working at home. The highest shares are found in the West, the Northwest, the Upper Midwest and New England. The state of Vermont has the highest share (7.1%), followed by Montana (6.5%), Colorado (6.5%), and Oregon (6.3%). Louisiana has the lowest share at 2.3%.
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