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  1. kalenjin shared this story from Visual Capitalist.

    The 25 Countries With the Most Billionaires

    The 25 Countries With the Most Billionaires

    There are roughly 36 million millionaires in the world.

    That means if you meet someone from the global population at random, there’s a 1 in 200 chance that they could be a millionaire – this makes for surprisingly good odds.

    However, the billionaire on the other hand is a much rarer breed. According to Forbes, there are just over 2,000 billionaires in existence, making up just 0.00003% of the global population.

    Where do these people live, and what countries have the highest concentrations of them as citizens?

    25 Countries That are Rich in Billionaires

    Today’s infographic comes to us from TitleMax, and it shows the 25 countries with the most billionaires in them. It also covers the richest person in each of these countries, as well.

    Here is the list of countries, sorted by the number of billionaires:

    #1United States565
    #6Hong Kong67
    #7United Kingdom54
    #11South Korea38

    The United States has the most billionaires in total with 565.

    In second place is China (319) – a country that is adding billionaires at a rapid pace, but also losing some of its ultra-rich population to capital flight.

    Billionaire concentration

    Although the United States has the most billionaires by a large margin, the country ranks 6th in terms of billionaire concentration.

    In the U.S., there is one billionaire for every 571,858 people, but it is beat out in this measurement by Hong Kong (110k), Switzerland (233k), Singapore (267k), Sweden (319k), and Israel (475k).

    RankCountryPeople per billionaire
    #1Hong Kong109,657
    #6United States571,858
    #11United Kingdom1,215,566
    #12South Korea1,348,684

    Hong Kong, which has the highest rate of billionaires in the world, boasts 67 billionaires in just one city of roughly seven million.

    For comparison’s sake, if Mainland China could somehow have the same rate of billionaire occurrences as Hong Kong, the country would amass 12,575 billionaires – more than six times the total amount in the world that currently exist!

    Lowest Billionaire Concentrations

    With only roughly 2,000 billionaires scattered throughout the world, it’s estimated that there are over 100+ countries and dependencies that actually have zero billionaires as citizens. For example, Haiti, Lithuania, Ethiopia, Belarus, and Andorra are just a few places that have millionaires, but no billionaires.

    As for countries that made the above list, India and Indonesia are pretty scarce in terms of their billionaire concentrations – if you were to hit the street in these countries, the odds are 1 in 13 million that a random person would be a billionaire.

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    The post The 25 Countries With the Most Billionaires appeared first on Visual Capitalist.

  2. kalenjin shared this story from Linux Journal - The Original Magazine of the Linux Community.

  3. kalenjin shared this story from AllAboutAlpha: Alternative Investing Trends and Analysis.

    A new paper by J.B. Heaton, forthcoming in the Journal of Financial Transformation, offers a skeptical view of the algorithmic trading of securities, its actuality and its potential. Heaton is a lawyer (admitted to the bars of both Illinois and New York) and has a Ph.D. in finance, University ofRead More
  4. kalenjin shared this story from AllAboutAlpha: Alternative Investing Trends and Analysis.

    By Nicolas Rabener, CAIA, Factor Research EQUITY FACTORS & REAL GDP GROWTH Summary: Economic cycles have a clear impact on factor performance Some factors show pro-cyclical while others highlight anti-cyclical characteristics Given that real GDP is not published in real-time, it is unlikely effective for factor selection INTRODUCTION Financial commentators frequentlyRead More
  5. kalenjin shared this story from The Big Picture.

    Digital currencies are generating a lot of excitement. John Oliver enlists Keegan-Michael Key to get potential investors equally excited about the concept of caution.   Cryptocurrencies: Last Week Tonight with John Oliver (HBO)  

    The post John Oliver on Cryptocurrencies appeared first on The Big Picture.

  6. kalenjin shared this story from Quartz.

    On Mar. 7, elections in Sierra Leone marked a global landmark: the world’s first ever blockchain-powered presidential elections.

    As president Ernest Bai Koroma leaves office after serving two five-year terms, the maximum allowed constitutionally, Sierra Leoneans have had to pick from a pool of 16 candidates including the ruling party’s Samura Kamara, the erstwhile foreign minister, and Julius Maada Bio, former military head of state and candidate of the main opposition party.

    Results released by Sierra Leone’s election commission (NEC) suggest a run-off between Bio and Kamara is likely with neither candidate securing the required 55% of votes so far. Sierra Leone’s new president will be tasked with a continued rebuilding given the country’s recent major disasters. In 2014, an Ebola outbreak led to nearly 4,000 deaths and GDP losses estimated at $1.4 billiona major loss for one of the world’s poorest countries. Last year Sierra Leone’s capital also suffered devastating flooding and mudslides believed to have claimed more than 1,000 lives.

    In Sierra Leone’s Western District, the most populous in the country, votes cast were manually recorded by Agora, a Swiss foundation offering digital voting solutions, using a permissioned blockchain. The idea was simple: just like blockchain technology helps ensure transparency with crytpocurrency transactions using public ledgers, by recording each vote on blockchain, Agora ensured transparency with votes cast in the district. While entries on permissioned blockchains can be viewed by everyone, entries can only be validated by authorized persons.

    A lack of transparency has plagued many elections around the world, but particularly in some African countries where large sections of the electorate are often suspicions incumbent parties or ethnic loyalties have been responsible for the manipulation of the results in favor of one candidate or another. These suspicions remain even when there is little evidence of manipulation. A more transparent system could help restore trust.

    Leonardo Gammar, CEO of Agora, says Sierra Leone’s NEC was “open minded” about the potential of blockchain in its elections after talks began late last year. “I also thought that if we can do it in Sierra Leone, we can do it everywhere else,” he says. That thinking is rooted in Sierra Leone’s developmental challenges which make electoral transparency difficult: poor network connectivity, low literacy levels and frequent electoral violence.

    The big picture for Agora is to deploy solutions to automate the entire electoral process with citizens voting electronically using biometric data and personalized cryptographic keys and the votes in turn validated by blockchain. Gammar hopes Agora can replicate its work in other African elections on a larger scale but admits that doing so will require understanding the differing challenges each country faces.

    Gammar says blockchain-powered electronic voting will be cheaper for African countries by cutting out the printing cost of paper-based elections but perhaps, more importantly, vastly reduce electoral violence.

    As Agora hopes to pull off more blockchain-powered elections on a larger scale in Africa, Gammar is confident of finding workarounds for local problems. “If phones are not available, you can go borrow. If you are blind, we can make your phone speak to you. If you don’t read, we can put up pictures,” he says. “There is no big technical issue. Everything else requires being imaginative.”

    Sign up for the Quartz Africa Weekly Brief — the most important and interesting news from across the continent, in your inbox.

  7. kalenjin shared this story from naked capitalism.

    Tax avoidance is an ever-evolving game. Some fresh information on which countries are willing to offer a helping hand to the rich.
  8. kalenjin shared this story from NYT > The Upshot.

    In a new, detailed international comparison, the United States looks a lot more like its peers than researchers expected.

  9. kalenjin shared this story from CBC | Canada News.

    Parental Leave

    The head of the Bank of Canada is pointing to Quebec's subsidized child-care program as a possible tool to boost the entire economy because it could significantly raise female workforce participation across the country.

  10. kalenjin shared this story from Quartz.

    U.S. Immigration and Customs Enforcement, foreign nationals

    A spokesman for US Immigration and Customs Enforcement (ICE) says he quit over what he called “misleading facts”spread by Trump administration officials.

    The false information, according to the spokesman, James Schwab, is related to an ICE operation last month that targeted 1,000 undocumented immigrants in Northern California.

    Oakland mayor Libby Schaaf warned her community that the raid was coming, drawing the ire of ICE acting director Thomas Homan and US attorney general Jeff Sessions. They blamed Schaaf’s warning for ICE’s failure to apprehend all of its targets—the raid resulted in around 200 arrests. “Those are 800 wanted criminals that are now at large, 800 wanted criminals that ICE will now have to pursue by other means, with more difficulty, in dangerous situations, all because of one irresponsible action,” Sessions said during his visit last week to California.

    But Schwab, who was the spokesman for ICE’s San Francisco office until he resigned, said that the operation was never realistically expected to render 1,000 arrests. “We were never going to pick up that many people. To say that 100 percent are dangerous criminals on the street, or that those people weren’t picked up because of the misguided actions of the mayor, is just wrong,” he told the San Francisco Chronicle yesterday (March 12).

    Schwab told the newspaper he tried to get ICE to correct the figures quoted by Sessions and others, but was instead asked to deflect reporters’ questions.

    An ICE spokeswoman said that the agency disagrees with Schwab on the issue. Schaaf’s actions “clearly had an impact” on the number of arrests, though the agency can’t put a number on it. “Even one criminal alien on the street can put public safety at risk,” she said in a statement.

    She said this of Schwab: “We appreciate his service and wish him well.”

    The incident underscores how political immigration enforcement has become, on both sides. California has been fighting Trump’s agenda by publicly—and legally—protecting immigrants. The Trump administration is hitting back, filing a lawsuit against California’s “sanctuary” policies and launching a public-relations campaign to condemn them. Schwab appears to be the first official casualty of that PR war.

    Read next: Jeff Sessions is quietly remaking the US immigration system