Hi! I'm Dave from boyinaband. Do you like money? Do you like exchanging coins and notes for goods and services? Me too. I couldn't tell you the richest people in the world if you asked me. You would imagine the people who had created the most value in the world might be some of the most famous people, but no! Most famous people are freaking Katy Perry, apparently That's insane Who are the people who have the most money and how the hell did they get it? Let's find out. "The World's Billionaires" And we've got the list - the 2017 ranking. Up to date... except if you're watching this in the future in which case I hope you're not dead from AI So the thing I wanted to do today is to fill in some of the gaps in our knowledge because we all know Bill Gates He can jump over a chair like a pro. We all know that. However, not everyone might know the rest of the people on this list. So number one: Bill Gates. We've got Warren Buffett next. Look how frickin white everyone is! Uh- There's a lot of similarity here, I kind of feel. Oh, here you are, Zuckerberg, bringing in a bit of youth. OK, we've got Warren Buffett: 77.1 billion dollars! I read up a bit on Warren Buffett. He's a frickin incredibly talented investor. But what did he invest in, then? "From 6000 to seventy three billion: Warren Buffett's wealth through the ages". Now it's up to 77.1. This is one of those circumstances where the point one matters. What!? Buffet started investing at the wee age of 11, eventually using cash he earned from his paper route To buy some farmland in his home state. He was able to buy land from paper round money I was barely able to buy Pokemon cards! By the time he was 15 he had a net worth of six grand! Okay, So he's like a serial entrepreneur, from like a kid. Alright, where did the investments start? How's he- how's he start gettin' some commas, man? Alright, he was a millionaire at around 30 years old, and a billionaire by 56. Jeez that's pretty exponential, that growth. By the time he finished college, Buffett had accumulated about- -well, the equivalent of 99 thousand dollars. I feel like the majority of people I know are pretty much negative that with their student loans He bought a textile manufacturing firm, Berkshire Hathaway, which is the name of his current company. He later claimed the textile business had been his worst trade! So the name of his company is a reminder of the worst investment he ever made [Typing] [Click] This is his website! This looks like it was made by me! When I was 13! "If you have any comments about our WEB page, you can write us at the ADDRESS shown above"! Imagine if YouTube was like that! Just, have a bunch of stamps to put on your freaking hate comments. (Narrator:) "He's been called the oracle of Omaha. The sage of Nebraska." (Dave:) "The SAGE of Nebraska". Doesn't really have a ring to it. It'd be, like, the KNIGHT of Nebraska. Wait, he doesn't fight anyone. (Documentary:) They had a virtual monopoly - there was one competitor. That was going to go out of business soon It was the paper that he had an association with as a- as a teenager carrying it, delivering the paper. (Dave, laughing:) So he ended up buying the newspaper company that he used to deliver. That is so baller! Oh my God! While Buffett had given away much of his stock to charities, he still held 64.2 billion dollars worth. He might be number one if he hadn't given it all to charity! He invested in, like, a whole range of random crap [Laughing] That's his investment advice. "Yeah, I just put it in bunch of random crap!" Number three: Amancio Ortega. I have never heard of this guy and he has 74 billion dollars! From Zara..? Is that the clothes company, Zara, then? "Ortega is the richest man in Europe and the wealthiest retailer in the world. He co-founded Zara with his ex-wife." Oof, that must have been awkward. The third richest person in the world made that money from selling clothes. I suppose fashion is one of those companies where there's like a stupid markup and people just buy it because they're idiots! I don't know. I never really got why people spend so much money on clothes. I like interesting stuff, but if it's stupidly expensive, generally, I'm like, "No!" Isn't it crazy that the top video for the guy who is freaking third richest in the world -
second richest at the time this video is made - has got 25 thousand views on it. No one knows or cares. How is this possible?? Until 1999, no photograph of him had ever been published? Woah! So he's, like, a really secretive dude. Alright, fair play, if he wants to be left alone I won't do too much research into him. Ah, so he founded Inditex, and Zara is just, like, one brand in that company which operates over 7,000 stores. That'll do it. One day in the early 1960s, He hit upon the formula that was to become central to the operations of Inditex. That is the most corporate- sounding name. The only company that has a more corporate-sounding name than that is moneycorp. I thought it was a joke what I heard that name for the first time. Business! "That of reproducing popular fashions using less-expensive materials in order to sell high-demand clothing items at lower prices." So, he just made expensive clothes cheaply, and then sold it at a similar price. It's kind of like an engineer-kind of thing to do. [Laughing] Legend has it that Ortega's first project was to remake a popular but expensive dressing-gown. What an exciting legend! (sarcastic) Odysseus, Romulus and Remus, and dressing-gown. Other companies took up to six months from the initial design to delivery to their stores, whereas he turned it to like 15 days. Oh, so he was smart enough to use computers in the early days. There you go. Isn't that interesting that computing made him that much money in a completely different industry? I kind of got my head around that one. Alright, fair play, Amancio Ortega Eh~ Next up we've got- it's your boy, Jeff Bezos! Bez-oss? Bezos? I think it is Bezos. Amazon.com, why are all these lines, just, overlapping? Wonderful website design here, Forbes. Um, I kind of want to read this... you want to- no? OK, we'll go elsewhere I wonder where my Kindle is... looks like I've contributed to this one. You're welcome, Jeff! I quite like Amazon I've heard they're horrible to their employees I really like how they push the boundaries a bit. Like, I was surprised that books were still a thing and I'm glad they pushed the industry to make something as convenient as the Kindle. I'm glad there's nothing embarrassing in these freakin suggested products Yeah, I don't think we have to spend too much time with Jeff. We all know why Amazon has done so well. There had to be one big company on the Internet that sold stuff. Number five! Carlos Slim Hee-lu? Hel-lu? Again, almost 60 billion dollars and I've never freaking heard of the guy. "Mexico's richest man" [He and his family] control America Movil, the biggest mobile Telecom firm. Huh. How come if he's this rich from mobile telecom, why isn't there someone from the western world That's that rich from mobile telecom? Like, isn't there more money in the U.S. than in Mexico, for instance? But then it might be in more countries and maybe in the other countries multiple people got together to make those companies. ~Carlos Slim~. Doesn't look like Carlos is too slim! Sorry shouldn't insult a billionaire. Oh my God! What a gangster! Just a picture of him holding some money. That's such a meme. Oh my God. Oh he's got a brilliant face. (Man in video:) Carlos Slim is a bad guy because he owns a telephone company, he owns the Internet, he offers a bad service - his service, in fact, uh, stinks and he's making obscenely- uh, obscene amounts of money- (Dave:) So he's like the Comcast of Mexico. So not everyone likes the guy. (Laughing) Riff Raff made a song about him! (Riff Raff, rapping:) Diamonds shining jumping out the gym (Dave:) Yeah, yeah (Riff Raff:) I might move to Mex'co, Carlos Slim (Dave laughing) Riff Riff, you are... Goals. You're operating on another level. (Carlos Slim:) You-you sell the razor -
or you promote the razor - to sell [chips?]. Here we were promoting the handset to sell to sell euhh phone [cards?]. He used the kind of "razors and blades" kind of business. Like, he lost money on the phone, so that he could make money on the SIM cards. Look at that bow tie. Nice. And he started out to the stock trader like your boy Warren. I wonder how many people started out as stock traders or doing investments like a Carlos Slim or Warren Buffett and then failed. Like, what percentage of people actually make money on it? Because it feels like a really dangerous thing. You've got to know what you're talking about to be able to predict the future like that. This is just blowing my mind! "Companies found within the construction, soft-drink, printing, real estate, bottling, and mining industries were the focus of his early burgeoning business career." That's six massive industries he could casually invest in! "He later expanded into numerous industries including auto parts, aluminium, airlines, to chemicals, tobacco, and manufacturing of cables, wires, paper packaging-" Jesus Christ this goes on and on I wonder if that's why he was so successful. Like, if you invest a little bit in loads of different things, there's less likely to be some kind of titanic event sinking your investment. I don't know. I would not want to be giving investment advice. I'm just curious. Ah, he did a similar thing to Warren. when everyone else is selling things because the economy is tanking he's just buying. So where did he buy this fricking telecom company? Ooohhhh, OK. So, previously that was owned by the government, and then as soon as that was an option, he was, like, there to buy it and take the opportunity to make even more money. So that's what to watch out for. See if the government is selling off any of its companies. But that's not likely to be an opportunity any time soon. Most governments lately are really stable (Sigh) Ya boy Zuckerberg! Sweet, Zuckerberg's also giving away 99% of his and his wife's stake. I didn't see the other people saying that. Doesn't mention anything about Jeff doing it, or Amancio. So, in theory, the richest person who is not giving a significant portion of his money to charity is Amancio Ortega, shortly followed by Jeff Bezos. And by "shortly" I mean 300 million dollars I just realized how ironic it is to search for Zuckerberg on YouTube rather than Facebook. (Man across from Zuckerberg:) We are especially excited that you are here (Zuckerberg:) I'm not sure where to go from there. (Awkward laughter) (Man:) Why don't we start with- (Dave:) Aww they're so awkward. I think I like Zuckerberg. He's such a nerd. I obviously have no idea what it's like behind the scenes working for the guy at Facebook, or whatever. He didn't come across too well in "The Social Network" - love that film. But in general, he seems to- he seems to care, like, someone who's giving away 99% of their wealth can't be all bad. (Zuckerberg:) You know, in a lot of ways, building a company is like following the scientific method, right? Y-you try a bunch of different hypotheses, and if you set up the experiments well Then you kind of learn what to do. (Dave:) I totally agree with that. Not that my opinion is more valuable than fricking Zuckerberg's. That's kind of how I do my YouTube videos. I'll try a couple of things, see which things hit, and then I'll keep going in that direction. Good ol' Facebook. I'd say I am quite thankful to Zuckerberg since Facebook was a large part of my success. That was where "Don't Stay in School" went viral. Thanks for that, Zuckerooney. Yeah, I'm quite appreciative for Facebook being a thing What's interesting about Facebook is how it's, like- where does the money come from? Is it most- is it all advertising?! Jesus! They make a billion dollars per quarter in advertising revenue. Oh I got a nice little infographic here. Oh wow, they made money from Farmville as well. So it's mostly advertising sales, and then followed up by gaming. Starbucks saw a 38% lift from users who saw Starbucks up here in their feed. So here's saying they've made more money than the top two advertisers in the U.S. just by advertising revenues. Surely that makes them the top... advertise-... (groan) Ah, okay, and they get a revenue share on the commission of, uh, like, credits in Farmville. Do people still play Farmville? (Laughing) Yeah, I've heard that before : "If you're not paying for it, you are the product." So that's how Zucky did it. Larry Ellison... I think he made Oracle, didn't he? 55 billion - again, like, someone with 55 billion dollars that I'm not certain about what they did. Yeah, co-founded Oracle. And Oracle is the second largest software maker by revenue, after Microsoft. What software was it? Ah, yeah, They did MySQL. So, it's more of the behind-the-scenes side of software. Where's Larry page? Oh, there he is. Looks like it pays to be a Larry. "Six huge things owned by Larry Ellison" - "to prove how much better than you he is" "Ellison likes to buy things. Here are the six biggest and most impressive things he owns to help you properly respect his superiority." "Many mansions, and several neighborhoods" So, that's the next step up after you got a mansion you buy neighborhoods. "A flying racing yacht" "His own airline" (Laughing) So other people by a frickin private plane, and he's like "Pfft, private jet. I'll buy an airline". "A cryogenic freezing chamber Probably" (Laughing) These titles! "Larry Ellison Billionaire Samurai Warrior of Silicon Va-" he's not a samurai warrior, is he? He's a- he's a businessman. (Narrator:) He's the samurai warrior of Silicon Valley. Larry El- (Dave:) Why is he a samurai warrior? Why is he a samurai warrior? (Larry Ellison:) I'm addicted to winning. The more where you wanna win. (Narrator:) He's a high-flying- (Dave:) Oh, he's one of those type- "I will win, no matter the cost". Fair play, he- he is doing pretty well. He isn't winning against Bill though, is he? (Air horn sound effect) (Narrator:) But his success comes from something far less flashy: tools you use everyday. (Man:) If you have a credit card, if you have a cell phone, if you have any of the- the modern things in life, if you live today, I think you probably use Oracle. (Dave:) Whoa. That is a lot of stuff that it's involved in. I didn't realize it was used by every government in the world as well. (Larry Ellison:) My dad just said right before dinner "Oh by the way you were adopted and we're having meatloaf tonight". (Dave:) Jesus, That's-! So his dad was less than tactful. Wasn't Steve jobs adopted as well? I wonder if that's, like, a common theme? Like, adopted kids have more grit or something when it comes to making a business? Tied in eighth place. We've got two Kocks. Two very rich Kocks. What did they do? David Kotch? Kock? Kotch? Oh my God. They could not have- why did they call it that? I like to imagine that they are really immature (Laughing) That's the face he makes when he looks at the name of his company. (Immature laughing) Oh, it's a conglomerate, so it's, like, loads of different companies. Sales from pipelines, chemicals, Dixie cups, paper towels, and Stainmaster carpets. "Refining oil into gasoline" there we go: oil. Oh, and it was their dad. I guess that he inherited. That would explain why there's two Kocks up there. I'm- I'm going to have to find out whether that's how it's pronounced before I continue with that joke. (Man in video:) "Charles Koch (pronounced "Coke"). Uncommon knowledge now- (Dave:) "Koch"! OK, Koch... (Laughing) I like how Wikipedia goes from "In 1967 he became president of his dad's business" followed shortly by "In 2006 they generated 90 billion dollars". There's nothing in between there which is worth mentioning. He gives a bit to charity, but when it's like 246 million, and you have - how much was it? - 48 billion, it seems like a little bit of a drop in the bucket kind of thing when Bill Gates and Warren Buffett and frickin Zuckerberg are giving 99 percent of their wealth. I don't know if I could live with myself if I had that amount of money and I wasn't giving the majority of it away. Like, once you've got so much that you can't frickin do anything with it, you can't spend it, then why are you keeping it? So who's David Koch? Yeah, just his brother. Oh, and he's, like, a politician. Supports gay rights, how 'bout that? And stem cell research. High-five! So how much did he get? When he inherited the business, how much did they have? Because if you've got like a small loan of a million dollars from his dad then you can't really give him all of the credit from building that kind of company, can ya? Oh holy crap! According to the New Yorker, Koch partnered with William Rhodes Davis. They built the third-largest oil refinery serving the Third Reich, a project which was personally approved by Adolf Hitler! Wow. So it looks like the two Koch brothers made money by oiling up nazis (laughs). Nothing like a good oiled-up Nazi, eh? That was a joke, Wall Street Journal. Atleast they've taken a different direction in politics now. Oh, God! Not only Nazis but he gave it to Stalin! Didn't have the best, uh, eye for business partners, then Christ- well financially I guess they did. I guess if it wasn't them it would've been someone else. Responsible for 300 oil spills, one of the country's top 15 polluters, paid over a hundred million dollars in fines, stole oil from native American lands, and their dad supported racial segregation. Looks like the kids have gone in a different direction, though. Fair play. Imagine inheriting that much money that was made from helping Nazis and frickin Joseph Stalin I don't know how it would feel to inherit money, like, on that scale, anyway. Even if I made that money I wouldn't feel comfortable keeping it. Even less so if it was made in that way. You'd want to invest it in things that were, like, the opposite of that. Huh, they opposed the minimum wage, though. I don't know. This is just one source: Alternet. I've never heard of them before so I'm not going to put too much credence in that. Aaand last but not least, Michael Bloomberg. Isn't Bloomberg a website that talks about business? Super business-y. I can't imagine there's that much money in, like, just reporting on business. Oh, it's a financial information and media company. So it is just that? And he co-founded it. So there's not an inheritance thing here. Ah... So, they made software for financial data widely used in the global financial services industry. (Groovy song playing over Bloomberg video) Oh, holy crap. The software costs $2,000 per month, and they've sold over 300,000 of them! So, let's take a look over what we've done. So three of them did it from software. Two kind of inherited an oil company from their dad. Two made websites. He sells phones. And he made a dressing-gown. Alright! So we've learnt a lot today! Out of those 10, I would have recognized four of those names. So that's six of the 10 richest people in the world I had basically no idea what they did. In general, the people are, like, the same kind of age. Yeah, most people are super old. The younger ones are always to do with Internet, aren't they? There's the Google fellas. Thanks for the job, guys! I'm glad Bill Gates is number one. He might have done some dodgy kind of business practices, but he's frickin nice with his money now. Thanks for dealing with Polio. First woman... Oh, L'oreal. I dream of getting a sponsorship. Aw come on, Liliane Bettencourt, give me a little bit of that to do a sponsored video. I could do- I could do the hair flips! So thanks for tuning in to this episode of "old rich white dudes and Zucky". See you next time! "Ah~" "Eh~" "Mmm~" "Ey~!" "Ah~!" "Ey!" (Subtitles by youtube.com/DrywallJackson)
Yes.
Jeff who?
OBLIGATORY BOYINABAND VIDEO YES YES YES
Also this: https://www.youtube.com/watch?v=WaAJAwi3Q1U&feature=youtu.be&t=310