US billionaire Dan Friedkin signs a deal worth 591m euros (£532m) to take over Serie A side Roma from compatriot James Pallotta.Read more
His wealth is now estimated to be $171bn (£137bn), having made billions during the pandemic.
Amazon boss Jeff Bezos has pledged $10bn (£7.7bn) to help fight climate change. The world's richest man said the money would finance work by scientists, activists and other groups. He said: "I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change." Writing on his Instagram account, Mr Bezos said the fund would begin distributing money this summer. Mr Bezos has an estimated net worth of more than $130bn, so the pledge represents almost 8% of his fortune. For more, Newsday has been speaking to Elizabeth Jardim, a Senior Campaigner at Greenpeace USA. (Photo: Amazon and Blue Origin founder Jeff Bezos. Credit: Getty Images)
Excluding dictators and royalty, there are around 2,000 people in the world who are billionaires. Some inherit wealth while others might build fortunes through inventions, businesses or investments. Some say individuals holding onto extreme amounts of money is wasteful because it could be diverted to other areas that would benefit more people such as education and healthcare. Others reason than some billionaires should keep what they have because they drive economic growth and inspire others to innovate. Are billionaires the right focus or should attention move to the systems and processes that enable them to make and keep huge amounts of money? Contributors: Dr Paul Segal, Senior Lecturer in Economics, King’s College London Roxanne Roberts, Reporter, Washington Post Caroline Freund, Global Director of Trade, Investment and Competitiveness, the World Bank Will Wilkinson, Vice President for research at the Niskanen Center Presenter: Celia Hatton Producer: Charmaine Cozier
John Caudwell goes head-to-head with the shadow chancellor after he stated that nobody needs or deserves to be a billionaire.
The number is thrown around a lot, especially during election campaigning - but what does it mean?