There Are Now a Record Number of Billionaires—With Taylor Swift and 19-Year-Old Brazilian Heiress Livia Voigt Joining the List
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    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,655,505 (-0.06%)       Melbourne $994,898 (+0.02%)       Brisbane $991,841 (+1.33%)       Adelaide $889,373 (+1.26%)       Perth $861,566 (+0.49%)       Hobart $729,893 (-1.65%)       Darwin $669,344 (+0.35%)       Canberra $999,769 (+1.27%)       National $1,055,910 (+0.34%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $749,436 (-0.10%)       Melbourne $494,327 (+0.46%)       Brisbane $554,094 (+2.77%)       Adelaide $439,361 (-1.14%)       Perth $456,655 (-0.27%)       Hobart $524,871 (-0.43%)       Darwin $349,455 (+1.52%)       Canberra $494,554 (-1.96%)       National $530,871 (+0.07%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 10,048 (-72)       Melbourne 14,823 (-272)       Brisbane 7,999 (+9)       Adelaide 2,372 (-66)       Perth 6,238 (-89)       Hobart 1,265 (-29)       Darwin 232 (-6)       Canberra 1,020 (0)       National 43,997 (-525)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,719 (-61)       Melbourne 8,033 (-189)       Brisbane 1,615 (-4)       Adelaide 391 (-5)       Perth 1,570 (-29)       Hobart 203 (-10)       Darwin 394 (-6)       Canberra 1,010 (+7)       National 21,935 (-297)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $820 ($0)       Melbourne $600 (-$10)       Brisbane $640 ($0)       Adelaide $610 ($0)       Perth $670 ($0)       Hobart $550 ($0)       Darwin $700 ($0)       Canberra $680 ($0)       National $668 (-$1)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 (-$25)       Melbourne $550 ($0)       Brisbane $630 ($0)       Adelaide $500 ($0)       Perth $640 (+$13)       Hobart $450 ($0)       Darwin $513 (+$13)       Canberra $570 ($0)       National $589 (-$2)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,497 (+71)       Melbourne 5,818 (+35)       Brisbane 4,141 (+99)       Adelaide 1,399 (0)       Perth 2,377 (+32)       Hobart 400 (+17)       Darwin 111 (+17)       Canberra 604 (+9)       National 20,347 (+280)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,083 (+248)       Melbourne 4,637 (+100)       Brisbane 2,182 (-27)       Adelaide 393 (+2)       Perth 731 (-10)       Hobart 130 (-7)       Darwin 144 (-8)       Canberra 684 (+72)       National 17,984 (+370)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.58% (↑)        Melbourne 3.14% (↓)       Brisbane 3.36% (↓)       Adelaide 3.57% (↓)       Perth 4.04% (↓)     Hobart 3.92% (↑)        Darwin 5.44% (↓)       Canberra 3.54% (↓)       National 3.29% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.20% (↓)       Melbourne 5.79% (↓)       Brisbane 5.91% (↓)     Adelaide 5.92% (↑)      Perth 7.29% (↑)      Hobart 4.46% (↑)      Darwin 7.63% (↑)      Canberra 5.99% (↑)        National 5.77% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.8% (↑)      Melbourne 0.7% (↑)      Brisbane 0.7% (↑)      Adelaide 0.4% (↑)      Perth 0.4% (↑)      Hobart 0.9% (↑)      Darwin 0.8% (↑)      Canberra 1.0% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.1% (↑)      Brisbane 1.0% (↑)      Adelaide 0.5% (↑)      Perth 0.5% (↑)      Hobart 1.4% (↑)      Darwin 1.7% (↑)      Canberra 1.4% (↑)      National 1.1% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 30.3 (↑)      Melbourne 31.5 (↑)      Brisbane 31.7 (↑)        Adelaide 25.7 (↓)     Perth 35.4 (↑)      Hobart 33.7 (↑)        Darwin 36.2 (↓)     Canberra 32.0 (↑)        National 32.1 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 31.3 (↑)      Melbourne 31.9 (↑)      Brisbane 32.1 (↑)        Adelaide 24.8 (↓)       Perth 38.7 (↓)     Hobart 37.6 (↑)        Darwin 46.5 (↓)     Canberra 39.2 (↑)        National 35.3 (↓)           
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There Are Now a Record Number of Billionaires—With Taylor Swift and 19-Year-Old Brazilian Heiress Livia Voigt Joining the List

By MICHAEL KAMINER
Fri, Apr 5, 2024 7:00amGrey Clock 3 min

For celebrities like Taylor Swift, Rihanna, Tiger Woods, and Steven Spielberg, fame is bringing fortune.

They’re among 14 performers, athletes, and entertainment moguls―along with Oprah Winfrey, Tyler Perry, and Michael Jordan― on the 2024 Forbes World’s Billionaires List, which the media company released this week. The annual ranking “has seen an explosion in celebrity billionaires in recent years,” Forbes said in a statement.

Topping the roster of fortunes: LVMH CEO Bernard Arnault , with an estimated net worth of US$233 billion―up from US$211 billion last year. Tesla and SpaceX founder Elon Musk ranked second, with a US$195 billion war chest, up from US$180 billion in 2023. Just a billion dollars short of second place, Amazon CEO Jeff Bezos placed third with US$194 billion, or $80 billion more than a year ago.

LVMH CEO Bernard Arnault topped the list with an estimated net worth of US$233 billion.
Getty Images

Tech titans dominate the rest of the top 10, which includes Meta CEO Mark Zuckerberg (US$177 billion), Oracle co-founder Larry Ellison (US$141 billion), Berkshire Hathaway CEO Warren Buffett (US$133 billion), Microsoft co-founder Bill Gates (US$128 billion), former Microsoft CEO Steve Ballmer (US$121 billion), Reliance Industries honcho Mukesh Ambani (US$116 billion), and Google co-founder Larry Page (US$114 billion.)

Swift made her debut on the list this year, along with 262 other “new billionaires” including shoe mogul Christian Louboutin, 19-year-old Brazilian heiress Livia Voigt, and NBA legend and entrepreneur Earvin “Magic” Johnson.

For Swift, worth an estimated US$1.2 billion, it’s the second star turn on a rich list this month. Last week, Swift made her first appearance on the 13th Hurun Global Rich Report, an annual survey from China-based media and research firm Hurun.

But the ultra wealthy had a very good year regardless of name recognition. The world now has more billionaires than ever, Forbes reported, with 2,781 in all. That adds up to 141 more than last year’s list, and 26 more than a record 2,755 billionaires set in 2021.

The richer are also richer, according to the list. Billionaires’ aggregate worth is now US$14.2 trillion, up US$2 trillion from 2023―and US$1.1 trillion above the previous record, also set in 2021, Forbes said.

A “flurry” of billionaires are getting rich through the AI “gold rush,” according to Forbes.

Taylor Swift made her debut on the list this year with an estimated US$1.2 billion.
Getty Images

“The poster child for all this is Nvidia co-founder and CEO Jensen Huang ,” whose company’s stock surged 300% over the past year. Open AI CEO Sam Altman , who briefly lost control of his company last year, also made the list, owing to canny investments in his former role as head of VC firm Y Combinator.

The U.S. leads in billionaires, with a record 813 worth a total US$5.7 trillion. China ranked second, with 473 billionaires whose combined net worth is US$1.7 trillion. India set a record with 200 billionaires this year. Forbes said it calculated wealth using stock prices and currency exchange rates as of March 8. Two-thirds of the billionaires on the list emerged wealthier than a year ago; one-third have lost money.

Forbes’ list diverged from the Hurun rich list, where Musk reigned as the world’s wealthiest and Bezos and Arnault ranked second and third, respectively. The Hurun list was even richer, ranking 3,279 billionaires, up from 3,112 the previous year. The number of billionaires increased by 5% and their total wealth was up 9%, Hurun said.



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It’s a key indicator in the RBA board’s decision making process, but it is proving difficult to move in the right direction

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Thu, May 30, 2024 2 min

The consumer price index (CPI) rose in April to an annual rate of 3.6 percent, which was 0.1 percent higher than in March, raising doubts about an interest rate cut this year as inflation starts looking stickier than expected. This is the second consecutive month of small rises, potentially indicating that Australia is experiencing the same stalled progress in bringing inflation down that is being seen in the United States, as both nations approach their central banks’ target inflation bands.

In Australia, the target inflation band is 2 to 3 percent, with the Reserve Bank of Australia (RBA) aiming to achieve the midpoint under its new agreement with the Federal Government following a formal review. In its interest rate decision-making, the RBA does not give as much weight to the monthly inflation data because not all prices are measured like they are in the quarterly data. On a quarterly basis, inflation has continued to fall. In the March quarter, the annual rate of inflation was 3.6 percent, down from 4.1 percent in December, according to the Australian Bureau of Statistics (ABS).

CBA economist Stephen Wu noted the April data was above the bank’s forecast of 3.5 percent as well as the industrywide consensus forecast of 3.4 percent. He predicts the next leg down in inflation won’t be until the September quarter, when we will see the effects of electricity rebates and a likely smaller minimum wage increase to be announced by the Fair Work Commission next month compared to June 2023.

The most significant contributor to the April inflation rise were housing costs, which rose 4.9 percent on an annual basis. This reflects a continuing rise in weekly rents amid near-record low vacancy rates across the country, as well as significantly higher labour and materials costs which builders are passing on to the buyers of new homes, as well as renovators.

The second biggest contributor was food and non-alcoholic beverages, up 3.8 percent annually, reflecting higher prices for fruit and vegetables in April. The ABS said unfavourable weather led to a reduced supply of berries, bananas and vegetables such as broccoli. The annual rate of inflation for alcohol and tobacco rose by 6.5 percent, and transport rose by 4.2 percent due to higher fuel prices.

Robert Carnell, the Asia Pacific head of research at ING, said they no longer expect a rate cut this year after seeing the April data. Mr Carnell said an increase in trend inflation was apparent and “rate cuts this year look unlikely”. In the RBA’s latest monetary policy statement, published before the April CPI was released, it said: “Inflation is expected to be higher in the near term than previously thought due to the stronger labour market and higher petrol prices. But inflation is still expected to return to the target range in the second half of 2025 and to reach the midpoint in 2026.”

 

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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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