Nov 20, 2017

Tencent is Asia's first $500 billion company

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The world's 500 richest people saw their collective net worth grow by 25% in 2019

Priscilla Chan and Mark Zuckerberg. Photo: Ian Tuttle/Getty Images for Breakthrough Prize

The world's 500 richest people added $1.2 trillion to their collective net worth in 2019, boosting their holdings by 25% to $5.9 trillion, according to Bloomberg.

Why it matters: Income inequality has become a key issue for politicians around the globe, highlighted by the fact that the wealthiest 0.1% of Americans now hold a larger share of wealth at any point since 1929 — the start of the Great Depression.

Go deeperArrowDec 27, 2019

Audit report: Tokyo Olympics likely to cost more than $12.6 billion

The National Stadium, venue for the upcoming Tokyo 2020 Olympic Games. Photo: Behrouz Mehri/AFP via Getty Images

Japan's National Audit Board released a report on Friday suggesting the Tokyo Olympics is likely to cost $9.7 billion in addition to the $12.6 billion that organizers are claiming the event's price tag will be, AP reports.

Why it matters: Only $5.6 billion in private money is allocated to fund the Olympics. The remainder of the funds will come from taxpayers across the country, the city of Tokyo and other government bodies, according to AP.

Go deeperArrowDec 21, 2019

Digital game spending hit a record $109 billion in 2019

Photo: Chesnot/Getty Images

Digital video games generated a record $109.4 billion worldwide in 2019, a 3% jump from 2018's $106.1 billion, according to Nielsen data cited by the Hollywood Reporter.

The big picture: Asia was the biggest market for digital games, ahead of North America and Europe. Free-to-play titles drove the majority of spending, totaling nearly 80% for the year.

Go deeperArrowJan 2, 2020