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When Larry Culp stepped into the CEO role at General Electric in 2018, he was the first outsider to lead the iconic company. Founded by Thomas Edison in 1892, GE had morphed over more than a century into a sprawling conglomerate that was struggling under $135 billion in debt.<br/><br/>One of Culp’s predecessors had made a costly acquisition bet, investors had fled, and the company’s market cap had shrunk to $70 billion, down more than half a trillion dollars from August 2000, when it was the most valuable company in the world. Culp turned GE’s board down twice before accepting the CEO job, but ultimately extracted a multimillion-share incentive package linked to GE’s share price. At the time, CNBC’s Jim Cramer said it was “the best performance-oriented contract I’ve ever seen.”<br/><br/>Spoiler alert: It paid off.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/sarahwhitmire/2024/03/31/general-electric-ceo-larry-culp-to-join-small-club-of-billionaire-executives/?sh=7902b57d449b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
CEO Larry Culp's Overhaul Of GE Will Make Him A Billionaire
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Around 70 jobs have been lost after a Yorkshire manufacturing business which was founded in the early 1990s went into administration. Andrew Mackenzie and Louise Longley of Begbies Traynor were appointed as joint administrators of SH Structures Limited on April 4. Based in Sherburn-in-Elmet, the business designed, manufactured and installed complex steel structures. It was established more than 30 years ago and employed approximately 70 staff.<br/>In a statement, the administrators said:  “SH Structures suffered from losses on various contracts and a gap in production scheduling due to projects being delayed. “Despite the multi-award winning company's strong reputation, it has not proved possible to find a purchaser for the business. SH Structures will cease trading with the loss of all jobs.”
Around 70 staff lose jobs as SH Structures is placed into administration
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It’s a rare feat to become a billionaire, especially at a young age. The average billionaire is 66, and the oldest person in the ranks is 102. Still, a select few have gotten super-rich super young.<br/><br/>For the first time since 2009, every billionaire under 30 inherited his or her fortune—the result of some self-made entrepreneurs aging into their 30s, and a sign that the “great wealth transfer” has begun.<br/><br/>These inheritances illustrate the beginning of a long-anticipated generational wealth transfer among aging populations around the world. In the United States, Baby Boomers and their elders (those born in 1964 or earlier) hold $95.9 trillion of a total $147.1 trillion of household wealth, per the Federal Reserve. Trillions are expected to change hands every year as the affluent elderly pass away and leave their fortunes to descendants.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/monicahunter-hart/2024/03/31/worlds-youngest-billionaires-2024-john-collison-ben-francis-evan-spiegel/?sh=3a7d65a61352<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?s... <br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more: <br/><br/>https://account.forbes.com/membership... <br/><br/>Stay Connected <br/>Forbes newsletters: https://newsletters.editorial.forbes.com <br/>Forbes on Facebook: http://fb.com/forbes <br/>Forbes Video on Twitter: / forbes <br/>Forbes Video on Instagram: / forbes <br/>More From Forbes: http://forbes.com <br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
The Top 5 Wealthiest Young Billionaires In 2024
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Steven Ehrlich, the director of Forbes Digital Assets, joins ‘Forbes Talks’ to discuss blockchains worth over $1 billion despite having few users.<br/><br/>0:00 Introduction<br/>2:25 Steve Explains The Zombie Presence In Crypto/Bitcoin Right Now<br/>4:39 How Did These Blockchains Acquire Treasuries?<br/>6:45 Can Blockchain Come Back To Life?<br/>9:28 How To Get Your Hands On A Bitcoin Treasury<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/stevenehrlich/2024/03/27/the-rise-of-cryptos-billion-dollar-zombies/?sh=cbcf07954b86<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Exploring Crypto’s Billion-Dollar Blockchains With Very Few Users
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