Richest Young Billionaires under 40 Year

Facebook is definitely in but the guy who created it — Mark Zuckerberg — is out of Forbes Magazine‘s 2009 list of the world’s youngest billionaires.

The 24-year-old Facebook creator was the youngest billionaire in 2010 with around $1.5 billion networth. This year, he was dislodged from the Top 10 as the company’s revenues did not follow the growth of the site’s membership.

The title of youngest billionaire is now held by German Prince Albert von Thurn und Taxis with a networth of $2.1 billion.

Google founders Sergey Brin and Larry Page are still the richest among the young billionaires.

Here is the 2009 list of the world’s richest and youngest, ranked based on networth.

2009 List of World’s Youngest Billionaires under 40

#1 & 2. Sergey Brin and Larry Page
Age: Brin (35) and Page (36)
Net Worth: $12 billion each

Both sons of Professors, the two met in a computer science Ph.D. program at Stanford University. Dropped out in 1998 to start Google from a friend’s garage. Google went public in 2004. Fortune down $6.6 billion since last March after stock fell 30% Sales: $21.8 billion. Net margins: 19%.

#3. Sheik Mansour Bin Zayed Al Nahayan
Age: 39
Net Worth: $4.9 billion

A member of Abu Dhabi’s royal family, shelled out $300 million for soccer team Manchester City last September. One month later, he rescued British bank Barclays from possible nationalization with a $5 billion cash investment. Wields major clout at home: chairs the state’s oil-oriented sovereign wealth fund; serves as minister of United Arab Emirates Presidential Affairs.

#4. Daniel Ziff
Age: 37
Net Worth: $3.5 billion

Along with older brothers Dirk and Robert, invests in real estate, hedge funds, corporate debt, and equities via Ziff Brothers Investments. Father was publishing magnate William Ziff Jr. (died in 2006), who inherited the Ziff-Davis publishing company from his father in 1953 and parlayed it into niche media conglomerate (PC Magazine, Car & Driver, Boating). Three sons cashed out when family sold 95% of business to Forstmann Little for $1.4 billion in 1994; father retired to Florida. Today, family trust said to be worth more than $10 billion.

#5. John Arnold
Age: 35
Net Worth: $2.7 billion

Became an oil trader at Enron in 1995; said to have generated $750 million of the firm’s profits in 2001 at the age of 27. Founded Centaurus Energy hedge fund after Enron’s bankruptcy. Returns said to exceed 200% a year since 2002.

#6. Prince Albert von Thurn und Taxis
Age: 25
Net Worth: $2.1 billion

This year’s youngest billionaire first appeared on the World’s Billionaires list at age 8, but the German prince officially inherited his fortune in June 2001 on his 18th birthday. Attended high school in Rome, studied economics and theology at Edinburgh University in Scotland. Assets include real estate, art, a technology company and 30,000 hectares of woodland in Germany. Tours with a German auto-racing league.

#7. Chu Lam Yiu
Age: 39
Net Worth: $1.5 billion

The only woman on the list, chairs Huabao International which makes fragrances and flavorings for use in cigarettes, detergents, beverages, dairy products and cosmetics. Fortune fell 20% since last March after manufacturing slowdown. Founded the company a decade ago; took it public through a backdoor listing. Sold 9% in 2008; still owns two-thirds of shares.

#8. Kenneth Griffin
Age: 40
Net Worth: $1.5 billion

Started trading stocks from Harvard dorm room; founded Chicago hedge fund outfit Citadel with $4.6 million in 1990. Today, firm manages $13 billion (down 35% from peak last year); accounts for roughly 10% of U.S. equity trading volume. Flagship Wellington Fund plunged 55% in 2008. Shut down Fusion, a $1 billion hedge fund of funds, in October. Net worth down $2.2 billion — 60% — since September.

#9. William Ding
Age: 38
Net Worth: $1.1 billion

Founder of China’s No. 2 online game company, Netease. Was once China’s richest man. Flagship game, “Fantasy Westward Journey,” among nation’s top 10 downloads. Signed three-year contract with U.S. game developer Blizzard Entertainment to distribute “StarCraft II” and Battle.net to Chinese mainland. Netease’s U.S.-listed shares up 9% in past year.

#10. Jerry Yang
Age: 40
Net Worth: $1.1 billion

Met partner David Filo in grad school at Stanford, turned Internet directory project into Web portal Yahoo!. Took it public 1996. Yahoo! co-founder quit as chief executive in January. Yahoo! stock is down nearly 55% since original Microsoft offer last February.

Are you young — and rich enough! — to be part of this list?

Entrepreneurs

“Entrepreneurs are people who are too naive to see the obstacles that are obvious to others”.
I have found myself quoting this phrase a couple times over the past week or so, and while I can’t remember who said it, or if that’s the quote exactly, that pretty much sums it up for me.

"Entrepreneurs play a key role in any economy. These are the people who have the skills and initiative necessary to take good new ideas to market and make the right decisions to make the idea profitable. The reward for the risks taken is the potential economic profits the entrepreneur could earn."

http://www.freshbooks.com/blog/2007/11/13/definition-of-entrepreneur/

A Dream Takes Flight

Dato' Sri Tony Fernandes. Photo: Air Asia
Donning an AirAsia cap, Dato’ Sri Tony Fernandes, speaker at the first South East Asian Youth Engagement Summit, goes up the stage of Kuala Lumpur’s Putrajaya International Convention Centre followed by four flight attendants in AirAsia’s chilli red garb. The casually dressed CEO of AirAsia announces that the first person to hand him something red will win a trip to London. Two youth delegates scamper up the stage, one of them tripping on her own feet before reaching Fernandes. The 45-year-old businessman decides to give both of them the free trip anyway. This scenario is a good illustration of how Fernandes built his low-cost airlines from the ground up – by enticing would-be passengers with free trips.
In 2001, Fernandes was the vice president for ASEAN at Warner Music South East Asia. One night, he saw an Easy Jet television ad and got interested in the concept of low-cost carriers. He realised this was what he wanted to do. He called his wife and told her of his plan, and she couldn’t stop laughing.
Fernandes mortgaged his house and then rallied a couple of his buddies in the music industry to set up Tune Air Sdn. Bhd. The Malaysian government, however, turned down the license application. Fernandes quickly arranged a meeting with then Prime Minister Dr Tun Mahathir Mohamad. Dr Mahathir suggested that, instead of getting a license, Fernandes should buy the fledgling AirAsia, a heavily indebted subsidiary of a government-owned conglomerate.
With youthful audacity he announced, “I will buy AirAsia for one Malaysian ringgit!” He got this reply: “Yes, you can buy it tomorrow.”
Fernandes might have gotten the airline at one ringgit (29 cents) but he and his partners also inherited 40 million ringgit worth of debt. His vision, nevertheless, took flight that same year with 250 employees and two ageing Boeing 737-300 flying to just one destination. A tragic event, however, threatened to crash his dream.
The September 11 attacks in the US made people afraid to fly. But Fernandes saw a golden opportunity in what could have been a major setback. Airline leasing costs plummeted by 40 percent, saving the company a lot of money. Airline lay-offs allowed him to hire experienced staff at lower costs. A year later, AirAsia had paid off all its debt and broken even.
“We Asians have this habit of kicking ourselves and saying it can’t be done. Anything is possible when you put your mind to it,” he says. Nine years later, AirAsia is the fastest growing low-cost airline in the world, carrying a total of 85 million passengers to date, with 7000 employees and 90 new airplanes flying to over 130 destinations in Asia, Australia and Europe.
Fernandes, a London School of Economics alumnus, is a laid-back CEO. “I go to work wearing regular clothes. My pants are sometimes older than my employees.” And he runs AirAsia with a unique set of principles. For one, the company has a flat structure, where everybody has access to the big boss. By removing company bureaucracy, he gets everybody talking and giving invaluable ideas. “People are our best asset. Get the best people and let them grow. Let them fulfil their dreams. Help them discover potential they never thought they had,” he advises.
When the company was still relatively small, Fernandes used to try his hand working in the different departments. He was a bag carrier, check-in officer and even flight attendant for a day. It allowed him to get on the ground and see real problems and needs. It also gave him the chance to spot potential stars in the company. When he learned that some bag carriers dreamt of becoming pilots, he sponsored their training. He’s proud of the fact that “18 months later they are flying planes.” AirAsia also boasts of having 35 female pilots in their staff. “If women can run a country, they can certainly fly a plane!” he exclaims.
Fernandes ends his well-applauded speech by encouraging the summit delegates with his credo: “Believe the unbelievable. Dream the impossible. Never take ‘No’ for an answer!”

small victories

Every business needs two things,
" INSPIRATION AND DESPERATION "
Skullcandy CEO Rick Alden:

10 Steps to Kick off Your Wedding Planning

1. Dream Together

Before you announce your engagement to the entire world and they all assume that they’re invited to your wedding, we suggest that you sit down with your fiance and discuss the date, time, size, formality, venue, and style of your wedding. All of these things reflect your taste as a couple, and are decisions that need to be carefully considered. To stay true to what you really want, keep your plans on the down-low for awhile.

2. Create a Planning Notebook

Pictures tell a thousand words. Gather images of things that inspire you and organize them in a way that’s easy to share with others. Search the web for real weddings that are similar to your style, including decor details and color combos. Print out each inspiration so you can be prepared to share it with vendors and a planner (if you decide to hire one).

3. Make Your Guest List

What's a party without the guests? Remember that many of your guests will bring a spouse or significant other and count for two people. Also keep in mind that the more people you invite, the more expensive your wedding will be. Create a "must-have" A-list, and a "would-like-to-include" B-list, and mail your invitations early. That way, if A-list guests can't make it, you can then mail out invitations to B-list guests early enough that they won't feel like last-minute additions.

4. Commit to a Budget and a Plan

The fact is, all that wedding glitz and glam costs money, and setting a realistic wedding budget will save you from heartache after the honeymoon. So take out that calculator, call up your folks and decide how much you’re willing to spend on the big day. Before you start crunching numbers, set your priorities. Is the number of guests you invite more important to you then the venue? Once you know what elements you can't live without, you'll have a much clearer idea of how to allocate your money.

5. Select Your Wedding Date

Do you envision a thick blanket of snow lining the streets as you snuggle close to your new husband en route to the reception? Or, how about a warm summer's night where you and your guests dance together under the stars? Decide what time of year you want to get married and select two tentative wedding dates -- it's important to have a backup in case your first choice isn't available. Don't forget to check your calendar to make sure a holiday or major sporting event doesn’t fall on your desired date -- otherwise you and your guests may be competing with tourists and sports fans for scarce, or more expensive, hotel accommodations and services.

6. Choose Your Venue

Wineries, zoos, botanical gardens -- let your imagination run wild when selecting a wedding location. But remember, the best spot may be one that’s nearby and can accommodate your guest count and travel needs. You'll want to find out how many events each site hosts per day. If it will bug you to bump into someone else’s wedding guests in the bathroom or lobby, you’ll want a venue that hosts one wedding at a time. To be sure that the venue really is within your budget, look out for any hidden fees in the contract.

7. Select Your Wedding Party

She's been your best friend since kindergarten; it's a no-brainer that you would want her to stand up with you on your big day. But the rest of the gang? Ask valued friends or family members to do a reading, be an usher, or oversee your guest book or escort card table. Remember that the more people you have in your party, the more expensive your wedding will be (think: bouquets, gifts, and the like).

8. Shop for the Dress

If you’re planning to tone up or slim down some before you wedding day, you should be aware that most dress shops require at least six months between making the order and receiving your dress. When you arrive at your first appointment, be prepared to find your dream dress. Don't forget to bring stockings, shoes, a strapless bra, and a hair clip to your appointment to help you envision the whole picture.

9. Book the Basics

Top wedding locations and vendors are sometimes booked more than a year in advance, so as soon as you've agreed on the type of wedding you’d like to have, find a venue and book your major vendors. Make reservations in the following order: ceremony and reception locations, ceremony officiant, caterer, reception band or DJ, photographer, florist, cake designer, videographer, stationer, and finally, any rental companies.

Note: While reception sites go particularly fast, many places will allow you to put a courtesy "pencil hold" on the date with no deposit needed. Finding your ideal spot isn't easy, so if a site meets 80 percent of your requirements, reserve it!

10. Set up Your Wedding Website and Registries

The easiest way to share information with all of your guests will be through a personal wedding website. Think of it as your online wedding headquarters. You can share your engagement story and wedding details, and get the word out about your wedding registries. WeddingChannel.com offers a free wedding website with membership, and a chance to create an online registry with gifts from top retailers. You'll enjoy the convenience of viewing your registry and making changes any time, day or night. And, your guests will be thrilled to have one place where they can find all your gift choices and insider wedding info.

The Event Planner

The event planner creates programs that address the purpose, message or impression that their organization or client is trying to communicate.

Event planners work long and non-traditional hours to plan and execute all details related to a variety of meeting formats including seminars, conferences, trade shows, executive retreats, incentive programs, golf events, conventions, and other programs.

Successful event planners develop the following skills:

* Verbal and written communications
* Organization and time management
* Project management and multi-tasking
* Self-starter and team player
* Understand Microsoft Office applications
* Detail and deadline-oriented
* Calm and personable under pressure
* Negotiation
* Budget management
* Staff management
* Marketing and public relations
* Interpersonal skills with all levels of management

Successful event planners will develop the following knowledge:

* Venue selection
* Catering
* Production
* Entertainment
* Gifts
* Transportation
* Lodging
* Conference Services

Anyone interested in becoming an event planner should begin the path by understanding that it is not party planning. This is the case whether you're considering a path with social events or corporate events. The final program may appear as if the profession is about throwing great parties, but the event planning professional focuses on the rationale or goal of having an event, and whether it is achieved. And the real work is in the details that lead up to the event. My site will help educate you about how to become successful.

1.1.11 Happy New Year

To all the lovely people out there...

Patience, Forgiveness and Understanding are great tools for humanity...!

Spread the Love :-)

May the Almighty bless you all with the happiest New Year ever!