The automobile industry has experienced remarkable growth and transformation over the years, evolving from the horseless carriages of the late 19th century to the electric vehicles of today. The global automobile industry is not only a powerhouse of innovation and economic activity but also a fertile ground for creating wealth. Notable in particular is the rise of Chinese billionaires who have made significant profits from the growing electric vehicle (EV) sector, securing their place as important figures in the development of the industry. Show
India has also become a major player in a number of industries, including automobiles. India’s rise to the fourth-largest position in the world car market for light vehicles in 2023 demonstrated its expanding power in the automobile industry. Despite the challenges faced in 2023, when there was a decline in sales of electric vehicles due to widespread strikes in US factories, rising material costs, and supply chain disruptions, the global automobile industry saw total sales of 92 million units of both commercial and passenger vehicles. Global passenger and commercial vehicle sales are projected to reach 95 million units in 2024, rising just over 3.1% from 2023. The global automobile industry is getting interesting with fierce competition and innovation. The United States, Germany, and Denmark are some of the highest paying countries for automobile engineers. Here are 10 richest billionaires in the automobile industry with their net worth from Forbes Real Time Billionaire Index as of April 8. This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox .Good morning, If you want to be a successful author these days, social media might be the key. Sarah J. Maas, author of three fantasy series including the viral A Court of Thorns and Roses, is 2024’s bestselling author, newly released data from the first quarter shows. Maas, 38, published her first novel Throne of Glass in 2012, but she didn’t see her current level of success until her books became popular on what’s known as “BookTok,” the corner of TikTok for book-related content. It’s not just Maas: The Women by Kristin Hannah, another BookTok favorite author, held the No. 1 spot last month among the top 10 bestselling adult books—almost all of which were fantasy or romance. BREAKING NEWSThe sanctions will be implemented in the coming days. (Photo by Win McNamee/Getty Images) Getty Images The U.S. will impose new sanctions against Iran, including its missile and drone program, according to a statement from the White House, days after Iran launched hundreds of missiles and drones at Israel. Israel has indicated it intends to retaliate against Iran for the drone attack, but National Security Council spokesperson John Kirby told NBC News the U.S. was not seeking war against Iran despite supporting Israel. Sen. Bob Menendez, D-N.J., reportedly may blame his wife for alleged wrongdoing if he testifies in the bribery case against the two of them, as he faces charges that he accepted bribes from three New Jersey businessmen in exchange for protecting their business interests. Menendez may say his wife hid information from him that made him unaware he was accepting bribe money, according to the New York Times, which cited newly unsealed court documents. BUSINESS + FINANCETesla shares sank again Tuesday, accelerating their dire start to 2024 as one notable analyst questioned whether investors attracted to Tesla’s bread-and-butter car business will soon “throw in the towel.” Tesla may be at risk of losing its mantle as the world’s most valuable car company: Its market cap is about $490 billion, compared to Toyota’s $320 billion, a sizable but dwindling gap. The Senate Finance Committee has asked Bank of America to provide details about its handling of millions of dollars in fees made by billionaire private equity investor Leon Black to disgraced financier and sex offender Jeffrey Epstein, the New York Times reported. A letter from the committee’s chair notes that the committee is trying to find out if Epstein’s tax planning work, which helped Black “avoid more than $1 billion in federal taxes,” was in line with federal tax laws and whether Bank of America did its due diligence. WEALTH + ENTREPRENEURSHIPGuerin Blask/The Forbes Collection Billionaire Mark Cuban proudly touted this week on social media his latest payment to the IRS: $275,900,000. That’s an eye-popping figure, but it’s also unusually large for him, according to Forbes’ calculations. His bill is likely much bigger because he sold the majority of one of his key assets last year, the Dallas Mavericks. TECH + INNOVATION The mainstreaming of AI image generators has brought with it an influx of artificial child sexual abuse imagery, according to a new report from the National Center for Missing and Exploited Children, a nonprofit that funnels information about suspected CSAM and child sexual exploitation from tech and social media companies to law enforcement globally. A small-but-growing group of generative AI shops have begun to cooperate with the organization to track and flag apparent CSAM, with OpenAI—creator of ChatGPT and text-to-image generator Dall-e—leading the charge. In 2019, Amazon built its own AI model that predicts the most efficient packaging choice in an effort to reduce waste. Five years later, the Package Decision Engine is helping to save at least 500,000 tons of packaging a year, according to company data, roughly equivalent to the weight of 7,750 Boeing 737 airplanes. MONEY + POLITICSEven as Trump Media & Technology Group’s share price tanks, the fledgling company celebrated itself with a party at Trump’s Palm Beach club Mar-a-Lago last Thursday night. Meanwhile, on Tuesday former President Donald Trump’s net worth dipped below $4 billion, though he’s still richer on paper than he was before his company’s public debut. MORE: Truth Social announced on Tuesday it will create a streaming platform as it looks to compete in the escalating streaming wars. Trump Media & Technology Group plans to eventually release a Truth Social streaming app to watch on TV, though the company did not release a timeframe for that launch. The Patriot Legal Defense Fund, which launched in July 2023 to defray the legal expenses of Trump’s allies, spent $478,000 in the first three months of 2024, according to an IRS filing. But barely any of the money appears to have gone toward attorneys’ fees or court costs— instead, 97% went to a computer-forensics and eDiscovery service provider called HaystackID for “attorney review service.” TRENDS + EXPLAINERSThe engineer claims the company uses “potentially defective parts” that could cause cracks in an aircraft’s fuselage over time. Stephen Brashear/Getty Images A quality engineer at Boeing is expected to testify before the Senate today regarding what he says are the company’s “alarming and dangerous manufacturing deficiencies” that could cause “potentially catastrophic” incidents for the 787 Dreamliner and the 777, although Boeing has called his claims “inaccurate.” Boeing’s assembly practices have drawn scrutiny over the past few months after a piece of fuselage fell off a 737 Max 9 during an Alaska Airlines flight in January. DAILY COVER STORYTikTok Mishandled The Data Of Hundreds Of Top American AdvertisersILLUSTRATION BY ANGELICA ALZONA FOR FORBES TOPLINE It’s not just TikTok users and TikTok creators whose sensitive data has been mishandled by TikTok and its Beijing-based parent company ByteDance—it’s TikTok advertisers, too, a Forbes investigation has found. For years, data about TikTok’s prized advertisers—which range from small mom-and-pop businesses to giant multinationals—was widely available to staff at both TikTok and ByteDance, according to internal documents, communications, videos and screenshots obtained by Forbes, as well as multiple sources across TikTok. That left sensitive and competitive information from the likes of Amazon, Disney and the New York Times vulnerable to being accessed or misused by employees most anywhere, including in China, a fear now at the center of federal legislation threatening to ban TikTok in the United States. Some of the most-used programs inside TikTok’s advertising arm were built by ByteDance, according to the internal materials and five people who worked at the company in 2023 and 2024. As a result, some said, ByteDance workers had broad access not only to basics like advertisers’ emails, but also to financial agreements and tax information; data from “pixels” placed on advertisers’ websites to glean intel on customers; delicate details on how companies are targeting those customers; and creative assets that could be valuable for their competitors. Sources in TikTok’s advertising division between 2021 and 2024 described it as an intensely chaotic environment where those in sales roles—underpaid and under the gun to meet ever-more aggressive revenue goals set by the company—had to operate under a money-at-all-costs mentality that may have forced some to adopt questionable sales tactics. One recent sales employee told Forbes they had, at their managers’ urging, used advertisers’ information to push their rivals to spend more on TikTok. That included sending their clients creative assets from competitors, as well as information about what those competitors were spending and how they were targeting their ads, the source said, to push clients to match or exceed their rivals’ ad spend on the platform. WHY IT MATTERS “Our investigation into concerns about how TikTok has handled sensitive business information from its advertisers comes against the backdrop of record scrutiny in Washington over TikTok’s ownership by a Chinese company,” says Forbes senior writer Alexandra S. Levine. “TikTok’s handling of Americans' personal data has already prompted investigations by the FBI, DOJ and FTC and culminated in legislation from Congress (supported by the White House) that threatens to ban TikTok nationwide. Our new findings about ByteDance's far-reaching access to data about U.S. advertisers big and small may well add fuel to that fire.” MORE The U.S. Takes A Major Step Toward Banning TikTok FACTS AND COMMENTSThe release of the sixth season of Netflix’s reality dating show Love Is Blind cemented the series as the most-watched across any streaming platform in the month of March. Netflix was responsible for four of the month’s most-popular shows: 6 billion: How many minutes Love Is Blind was watched in the month of March, according to Nielsen data 23: The number of times the show has ranked among Nielsen’s Top 10 most-streamed titles in its multi-year run 9.7%: The share of total TV usage in the month of March attributed to YouTube, a new record for the platform STRATEGY AND SUCCESSWhile cooking at home is generally cheaper, dining out can still be part of an effective budgeting strategy. It can strengthen ties to your own culture or allow you to learn about others, save you time and energy, and build social connections. Instead of eating at an expensive restaurant, try going out for breakfast or a sandwich, or take advantage of happy hour deals. VIDEOQUIZThe first branded item from Meghan Markle’s shrouded-in-secrecy lifestyle brand was shared on Instagram by an L.A. fashion designer. What was the item?
Check your answer. ACROSS THE NEWSROOMThere's been a lot of action lately at the intersection of sports and business, stay on top of the latest deals with our SportsMoney Playbook newsletter. . Who is the largest automobile manufacturer in the world 2023?In 2023, the Toyota Group's eponymous subsidiary, Toyota, held the largest share of the global car market. The Volkswagen Group and Hyundai-Kia came second in the ranking, with some 8.8 million and 7.1 million sales, respectively.nullLeading car manufacturers by sales 2023 - Statistawww.statista.com › statistics › leading-car-manufacturers-by-cumulative-salesnull What is the most sold car brand in the world 2023?Auto manufacturers' vehicle sales worldwide 2022-2023 Between January and June 2023, Toyota was the leading automaker in terms of global vehicle sales with around 5.42 million units sold. This figure represents a year-over-year rise of around 5.5 percent.nullGlobal vehicle sales by manufacturer 2023 - Statistawww.statista.com › statistics › global-vehicle-sales-of-automobile-manufact...null What car company makes the most money in 2023?Tesla, Inc., founded in 2003 as Tesla Motors, is a North American electric vehicle and clean energy automaker based in Palo Alto, California. Its revenue in the 2023 fiscal year reached nearly 96.8 billion U.S. dollars, and the Tesla Model Y was the best-selling plug-in electric vehicle model worldwide.nullMost valuable car brands worldwide 2024 - Statistawww.statista.com › brand-values-of-the-top-10-most-valuable-car-brandsnull What is the biggest car company in the world in 2024?Here are the top 10 biggest car companies leading the industry in 2024:. |
