Becoming wealthy and staying that way takes a certain level of discipline. Sure, an occasional splurge won’t put you in the poor house, but frequent frivolous spending can quickly erode your net worth. The frugal habits necessary to achieve financial success and maintain it can be surprisingly simple. Read on to meet 14 business leaders and celebrities, including renowned investor Warren Buffett and retired race car driver Danica Patrick, whose penny-pinching choices — from clipping coupons to clipping their own hair — have helped them build and maintain their fortunes.
As Knight Kiplinger observed in The Invisible Rich, “the biggest barrier to becoming rich is living like you’re rich before you are.” Learn more about the cost-cutting moves that help make these successful millionaires and billionaires who they are.
Las Vegas Sands Once Again Recognized as World Leader for Climate Change
Las Vegas Sands has again been recognized by CDP, the international nonprofit environmental disclosure platform, on the Climate Change A List. This is the company’s fifth year in a row to attain a leadership position for Climate Change, a distinction shared by only 2% of disclosing companies.
“The CDP provides a comprehensive framework that continues to inspire us to become leaders in our industry and provide guidance for strategic direction,” Katarina Tesarova, senior vice president of global sustainability at Las Vegas Sands, said. “Among the thousands of companies that were scored this year, Sands is one of a very small number from around the world to make the A List. We’re proud to be recognized, and we will continue to work towards additional reduction of our environmental impact.”
Through Sands ECO360, the company’s award-winning global sustainability program, Sands has reached several environmental milestones, all contributing to its placement on the Climate A List. The iconic ArtScience Museum at Marina Bay Sands in Singapore is the first Asia-Pacific region museum to achieve LEED (Leadership in Energy and Environmental Design) certification, and The Parisian Macao achieved LEED Silver certification for newly constructed buildings – the first building in Macao to receive this distinction. Additionally, the implementation of 38 energy-efficient ECOTracker projects are expected save more than 48 million kilowatt hours of electricity every year, through LED lighting upgrades, energy savings campaigns focused on consuming less electricity and more.
Sands has participated in the CDP environmental disclosure platform since 2012, starting first with reporting on climate change initiatives. Achievement of the Climate Change A List highlights the company’s work towards cutting emissions, mitigating climate risks and building integrated resorts responsibly.
The company has also retained its leadership in corporate sustainability with its most recent recognitions on the Dow Jones Sustainability Indices (DJSI) and America’s Best Employers by Forbes.
The Hidden Battle for Guys Who Marry into Wealth
As outsiders looking in, people tend to focus on the many benefits afforded by great wealth. However, substantial wealth can introduce significant complexity within families, particularly among husbands and wives.
Much of the discussion around family dynamics and wealth assumes that the husband has earned or inherited the majority of the wealth the couple enjoys. But what happens when it is the other way around? What if the husband does not come from a wealthy background, but instead is marrying into wealth? How does this change the conversation, and what unique challenges exist in this arrangement?
A secret is brewing for Several Investment Managers: Hedge fund investor Doug Kass
(Reuters) – Hedge fund investor Doug Kass said on Tuesday that he is shorting several investment managers, including T. Rowe Price Group Inc and Franklin Resources Inc, as they could be “the next group to feel disruption” and may be headed for large share price falls.
Kass, who runs Seabreeze Partners Management, said in a note to clients that he does not believe investors are aware of how commoditized the money management business has become. “As an example, a year ago, a boutique fund manager, Salt Financial, began to pay clients five basis points a year to manage their money!” Kass wrote.
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