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Saudi Arabian billionaire prince on his country’s economic futures in wake of tumbling gas price
Prince Alwaleed Bin Talal ranks 17th on the Bloomberg list of billionaires, and has urged his nation to diversify its economy as the U.S. increases its own energy production. He speaks with the “CBS This Morning” co-hosts about how increased production of oil in the U.S. may affect global relations.
Buffett Grandson: Our Plans to Change the World
Sept. 17, 2013 (Bloomberg) — Howard W. Buffett, executive director of the Howard G. Buffett Foundation, talks about his public management class at Columbia University and new book “40 Chances: Finding Hope in a Hungry World.” Buffett is the son of Berkshire Hathaway Inc. Director Howard Buffett and grandson of Chairman Warren Buffett. He speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)
Three Generations of Buffett: We’re the Lucky Ones
Oct. 23, 2013 (Bloomberg) — Together on set for a Bloomberg First, CEO of Berkshire Hathaway Warren Buffett, his son Howard Buffett and grandson Howard W. Buffett join Bloomberg’s Betty Liu to discuss philanthropy, their plans for Berkshire Hathaway, and their new book “40 Chances.” They speak on Bloomberg Television’s “In The Loop.”
Jorge Paulo Lemann: Meet the Burger, Beer Brazillionaire – Finance Expert
Aug. 29, 2013 (Bloomberg) — Bloomberg’s Alexander Cuadros examines the wealth Brazilian billionaire Jorge Paulo Lemann, the former professional tennis player who built his fortune on some very well-known American brands. He speaks on Bloomberg Television’s “In The Loop.”
Bloomberg Game Changers – Sergey Brin & Larry Page Google
Bloomberg Game Changers – Sergey Brin & Larry Page Google Full Story, Learn from the founders of Google, how the they turned a garage project to a global tech giant. But it wasn’t easy.
Mutli-Millionaires Buy Montana Land to Create American Serengeti
May 22, 2013 (Bloomberg) — Bloomberg Pursuits shows you how members of the mega-wealthy are snapping up vast tracts of the American West and returning them to their natural, pristine state. The American Prairie Foundation is looking to create a national park the size of Connecticut in northern Montana, but not everyone is pleased. Bloomberg’s Adam Johnson explains.
Why European Telecoms Are Attracting Billionaires
May 8, 2013 (Bloomberg) — Bloomberg Billionaires European Editor Robert LaFranco looks at the move by billionaires into the European telecom sector and why they find it attractive. He speaks on Bloomberg Television’s “The Pulse.”
The World’s Most Eligible Billionaires
Feb. 14, 2013 (Bloomberg) — Bloomberg’s Rob LaFranco profiles the world’s most eligible billionaires on the Bloomberg Billionaires Index. He speaks on Bloomberg Television‘s “The Pulse.”
Bloomberg: Can You Ever Afford To Retire?
Feb. 7, 2013 (Bloomberg) — In today’s “Single Best Chart,” Bloomberg’s Scarlet Fu displays the erosion of income by age group over the last three years. She speaks on Bloomberg Television‘s “Bloomberg Surveillance.”
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Youngest Woman Billionaire Made Fortune Flipping Burgers
The youngest female billionaire in the U.S. — and one of the youngest on Earth — owes her $1.1 billion fortune to flipping burgers, according to the Bloomberg Billionaires Index.
Lynsi Torres, 30, is owner and president of the In-N-Out Burger chain, whose restaurants have earned a following so devoted, says Bloomberg, that customers line up hours in advance of a new store’s opening.
The chain’s fans include fellow billionaire Warren Buffett, who, according to a story on the UCLA Anderson School of Business website, told a group of Anderson students in 2005 that he’d like to own the chain.
Torres didn’t found In-N-Out; her family did. According to the company’s website, Harry Snyder, Lynsi’s grandfather, introduced California’s first drive-through hamburger stand in 1948 in Baldwin Park. His wife Esther handled the accounting. From the get-go, the chain emphasized its use of only high-quality ingredients. Burgers today are still made one at a time and always to order, according to the company. Lynsi became president in 2010.
Bloomberg says In-N-Out has grown to include nearly 280 stores in 5 states, with 2012 sales of about $625 million. Bloomberg bases its $1.1 billion valuation for In-N-Out on the metrics of five publicly-traded peers, including McDonald’s Corp and Wendy’s.
In-N-Out, in response to Bloomberg’s valuation, called it speculation. The company is private, its financials confidential.
In-N-Out, according to a 2003 Harvard Business School case study cited by Bloomberg, has never franchised, which helps it to maintain strict quality control. Consultants Bain & Co in 2005 estimated the chain enjoys a 20 percent profit margin, thanks in part to the company’s focus on simplicity: its menu is strictly limited.
According to the company’s website, In-N-Out expanded into Texas in 2011, after building a new warehouse and patty-making factory in Dallas.
Torres, says Bloomberg, guards her privacy and grants few interviews. In September she bought a 7-bedroom, 16-bathroom mansion near the San Gabriel Mountains, according to Realtor.com. Her most visible presence so far, says Bloomberg, has been on the racing circuit. She competes in National Hot Rod Association races, sometimes driving a 1970 Plymouth Barracuda, sometimes a 1984 Chevrolet Camaro, according to association records.