Sanctions after the invasion of Ukraine sent tanker values soaring, boosting the fortunes of these Greek maritime moguls to record highs and minting at least seven new 10-figure fortunes.Forbes estimates there are now at least 12 shipping billionaires in Greece, more than at any other time in history. Seven of them are making their debut in Forbes’ billionaire ranks. They are worth a collective $32 billion—the equivalent of roughly 12% of the country’s gross domestic product.These tycoons are the latest in a line of swashbuckling pioneers hailing back to iconic figures like Aristotle Onassis and Stavros Niarchos, who launched the global oil tanker trade after World War II and became famous for their glamorous marriages and lifestyles. This newer group has been in shipping for decades but kept a lower profile. (Despite their success, none would speak to Forbes, while their representatives either declined to comment or did not respond.)Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/05/13/meet-the-greek-shipping-billionaires-getting-rich-off-russian-oil/?sh=6323b9ce74f10:00 Introduction0:24 Greece’s Presence In The Shipping Industry2:46 How Has Greece Made So Much Revenue With Shipping6:59 How Onassis and Niarchos Reached 10 Figure Status12:44 Tax Sanctions And Where It Applies In Greece15:20 How Long Will Greece’s Shipping Boom LastSubscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1Fuel 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:https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescriptStay ConnectedForbes newsletters: https://newsletters.editorial.forbes.comForbes on Facebook: http://fb.com/forbesForbes Video on Twitter: http://www.twitter.com/forbesForbes Video on Instagram: http://instagram.com/forbesMore From Forbes: http://forbes.comForbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Personal Finance
One in ten (nine percent) savers who have more than 20k+ in non-ISA savings accounts don’t believe they have enough in savings to worry about paying tax, according to new research from specialist bank Shawbrook.
The cost of living squeeze and difficulties meeting debt repayments were the driving force behind the rise of 9.9 percent to 9,651.
Three in ten landlords have indicated they intend to reduce the number of properties they offer or get out of the market entirely.
EXCLUSIVE: New official figures from the Bank of England have revealed a surge in the number of buyers opting for home loans running for up to 40 years.
Details have been revealed in a new scams bulletin from the bank which said the average value of each fake bill is 8,600.
The nation’s battle with the cost of living has changed what households do with their money, with consumption being cut by more than the fall in incomes, the Resolution Foundation said.
Home buyers have seen big increases in everything from a pot of paint to the bricks and mortar needed for an extension.
The wave of closures means that 33 parliamentary constituency areas either have no branch of any bank left now, or will lose their last bank before the end of this year.
Luca Solca, managing director and sector head of global luxury goods at Bernstein, joins Squawk Box Europe to discuss the sector-wide slowdown in luxury after a recent slew of big-brand earnings.
Darren Thedieck enlisted in the military at 18 and has diligently saved and invested ever since. He’s on track to retire in 8 years, after 20 years of service.
The RAC has written to Energy Secretary Claire Coutinho to draw her attention to the fact that retailer margins on fuel are far higher than they should be.