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Who are the richest men in the world in 2023? Has Elon Musk retained his supremacy, or has another billionaire undermined him? 

What is the ranking of the richest men in the world in 2023? This ranking is calculated according to net worth, which is the difference between the total value of the goods or assets owned, e.g., cash, investments, real estate, and companies, and the amount of liabilities, especially debts and mortgages.

Forbes compiles the best-known ranking of the world’s richest men annually. The one compiled by the US magazine is one of many. However, there is also the Bloomberg Billionaires Index, which returns the value of the possessions of the world’s wealthiest billionaires in real-time and, for this reason, may change in the coming months.

Although these two rankings show slightly different values in terms of assets, they present virtually the same ranking of the world’s richest men, except for the first position. Discover the 2023 ranking in this article. 

10. Steve Ballmer

In tenth place in the ranking of the world’s richest men is the former CEO of Microsoft, Steve Ballmer. Ballmer was one of the tech company’s first employees; he joined the company founded by Bill Gates in 1980. 

Over the years, he held several key roles within Microsoft, including president from 1998 to 2000. After leaving the company in 2014, he owned the Los Angeles Clippers National Basketball Association (NBA) team. His wealth is approximately $80.7 billion.

9. Mukesh Ambani

Mukesh Ambani is the chairman of Reliance Industries Limited (RIL), one of India’s largest companies. RIL manufactures petroleum and petrochemical products, fibres and materials for the textile industry. Its assets are USD 83.4 billion.

8. Carlos Slim Helu

Carlos Slim Helu, a Mexican entrepreneur and philanthropist, is ranked eighth among the 10 richest men in the world. Slim Helu is the president of Grupo Carso, an aggregation of companies operating in the telecommunications, construction, and energy sectors. He owns assets worth USD 93 billion.

7. Micheal Bloomberg

Michael Bloomberg is an American entrepreneur, politician, philanthropist, and activist. He founded Bloomberg LP and was the mayor of New York City for three consecutive terms, from 2002 to 2013. He was also a candidate in the Democratic Party primaries for the US presidential election in 2020. His wealth is approximately $94.5 billion.

6. Bill Gates

The sixth in the ranking of the world’s richest men needs no introduction. The founder of Microsoft has led this ranking for several years, continuously from 1995 to 2009 and in 2014 and 2015. His wealth since 2009 has grown every year. According to Forbes, it is around 104 billion dollars, while according to the Bloomberg Billionaires Index, it is 114 billion.

5. Warren Buffett

Also in fifth position in the ranking of the world’s richest men is a well-known figure who has been the leader in this ranking twice. Warren Buffet is considered by many to be the best investor ever. His company, Berkshire Hathaway, is the sixth largest company on the planet, with a market capitalisation of $713 billion. The total value of Buffet’s assets is $106 billion according to Forbes and $112 billion according to the Bloomberg Billionaires Index.

4. Larry Ellison

Larry Ellison is a co-founder and former CEO of Oracle, one of the world’s largest software companies. According to Forbes, his wealth is approximately USD 107 billion.

3. Jeff Bezos

The bottom step of the podium of the ranking of the world’s richest men is occupied by the founder and former CEO of Amazon, Jeff Bezos. He left the world’s fifth-largest company in 2021 to devote himself to philanthropy and other projects, such as his charitable fund, to combat climate change and promote environmental sustainability. Bezos has been the richest man in the world on four occasions: in 2017, 2018, 2019 and 2020, and his wealth in 2023 is $14 billion.

2. Elon Musk

Silver medal for South African tycoon Elon Musk. Who has recently knocked off the top step of the podium? The new chairman of Twitter, CEO of Tesla and SpaceX, and co-founder of Open AI, the company is developing Chat GPT. 

He was the richest man in the world in 2021 and 2022 and is now vying for the top spot with the owner of the LVMH group. Elon Musk’s wealth of around $188 billion is undergoing significant fluctuations mainly due to the controversial deal to buy Twitter.

1. Bernard Arnault

So, who is the wealthiest individual on the planet? Forbes’ rankings of the world’s richest men and the Bloomberg Billionaires Index agree the answer is: Bernard Arnault. 

The Frenchman is chairman and CEO of LVMH Moët Hennessy Louis Vuitton SE, the world’s largest conglomerate of luxury goods companies, which includes Louis Vuitton, Christian Dior, Fendi, Moët & Chandon and Dom Pèrignon. Bernard Arnault’s assets are approximately $218 billion.

And in Italy?

Who is the richest man in Italy? In our country, the ranking has remained unchanged from last year. In first place is still Giovanni Ferrero, president and CEO of the group owned by the Piedmontese company, who also occupies the 27th position in the ranking of the richest men in the world. In second and third place are Luxottica’s Leonardo Del Vecchio and fashion designer Giorgio Armani.

Find out which cents are rare. Many of them have a value you might not expect! Here are all the curiosities you need to know

Rare cents represent a topic of considerable interest for numismatic enthusiasts and the merely curious. 

Very often, it happens that you rummage through the drawers of old houses or even old clothes and come across some rare coins (here is a complete list of the most exceptional ones) that lead you to wonder not only if their value is higher than that of classic specimens, but also how to recognise them. 

Rare Cents: Introduction to Cuts

As we all know, 2002 was the year in which Italian and European citizens witnessed a revolution: national currencies were replaced by the euro. Euro coins are now available in different denominations: 

• 2 euros (€2.00)
• 1 euro (€1.00)
• 50 cents (€0.50)
• 20 cents (€0.20)
• 10 cents (€0.10)
• 5 cents (€0.05)
• 2 cents (€0.02)
• 1 cent (€0.01)

We will focus our attention on the smaller denominations in this article. In circulation, different types of rare cents have a higher or lower value depending on the case.

50 cents rare 

Among the most sought-after small denominations of the single currency throughout Europe are certainly the rare 50 centimes. The value of which fluctuates depending on the individual specimens, which, by the way, are numerous, so in this article, we will focus only on the best known. 

Among them, how can we not mention the 50 cents of 2007? Most of the 50-cent coins in circulation today date back to 2002. The 50 cents of 2007, on the other hand, are scarce to find, although 4,994,490 examples were minted (data from moneterare.net). The reason for this difficulty in finding the coin despite its high mintage is still unclear, but what is clear is certainly its value: from €2 to €10 if in Brilliant Uncirculated condition (without signs of circulation).

Then there are the 50 Cent Rare Malta, especially those of 2011, 2012, 2014, 2015 and 2021. Their value here, too, could be higher, between EUR 1.5 and 2.5 in BU. 

With the exclusion of the 2002-2003 vintages, the 50 Cent Rare Monaco are also considered attractive by numismatic experts, and their value starts to rise from EUR 10 to EUR 50. 

For the 50 Centesimi Rari Vaticano, divided into 6 series, one can go as high as €55, while those of Portugal 2007 are around €50.

20 centimes rare

Generally speaking, 20-centimes are rare if they obviously have peculiarities, such as minting errors or metal surpluses. In such cases, their value ranges from 3.25 to 55 euros. On the other hand, the few specimens stolen before the withdrawal of the 20-cent coin with the 1999 minting year issued in 2002 have no value. 

10 cents rare

Among the most exciting coins are those of 2008 Malta, worth EUR 1 in Brilliant Uncirculated, or even those minted in 2002, whose manufacturing errors led to quotations from EUR 236 to EUR 288.

5 cents rare

In the case of the 5, additional clarifications and distinctions have to be made based on the individual specimen. All quotations below are in Brilliant Uncirculated: 

• 5 cents of 2002 from Ireland, Portugal, Greece and Spain: 1€
• 5 cents 2008 of Malta with Mnajdra temple engraving: 1€
• 5 Centesimi 2003 of San Marino: 10€
• 5 cents 2002 of the Vatican Mint: 40€

1 cent rare

The rarest 1 cent in existence today is the one that resulted from a mistake: the coin in question has the engraving only on the reverse side and lacks the year of minting. Its value? About 550€ in BU. 

Other specimens, however, have much lower quotations. The 2004 rare 1 cent from Greece, Luxembourg and the Netherlands is worth €1, while that of San Marino 2003 is around €10. The 1999 coin of the Netherlands is worth around €1.20, while the Maltese coin with the image of the temple of Mnajdra is worth €2.

Not to be forgotten is the rare 1-cent Mole Antonelliana, on which the image of the 2-cent coin was minted by mistake. Its value is around 2,500€/3000€. 

Rare Cents and Bitcoin

Obviously, there are many more rare cents in circulation than those described in this article. What is clear, however, is that rarity is a fascinating aspect not only for experts in the field. The rarer a good or asset is, the more its value tends to increase. A concept that can also be found in the cryptocurrency sector is that bitcoins, for instance, are considered rare because their protocol provides a maximum supply limited to 21 million coins. 

This limit is designed to create a form of inherent rarity in the system. Unlike traditional currencies, which can be printed in unlimited quantities, the amount of Bitcoins in circulation is limited, affecting their perception as a rare and valuable resource. This is why many choose to buy when the price of BTC is lower (as in the current market phase), to get the crypto by paying less than those who will instead wait for the market to rise. Rare pennies and Bitcoin, in short, have more in common than one might imagine!

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What are rare coins? Are they worth a fortune? Here’s what they are and where to sell euros, lira and precious foreign coins

Rare coins are a very lucrative area of collecting. Numismatic enthusiasts are always on the lookout for the most valuable specimens. But also, for those out of the loop, it is interesting to find out which coins are the rarest; maybe a treasure is hiding in some abandoned drawer! Here are the rarest 2 and 1 euro, lira and foreign coins and where to sell them. 

Rare Coins: How to understand which ones have value

How do we know which coins are rare? In the case of euros, a coin can become rare, and therefore collectable, due to several factors: 

1. Minting errors: the best-known case is the Italian 1-cent coin of 2002 that was printed with the wrong monument on the reverse. Instead of Castel Del Monte, this coin was minted with the Mole Antonelliana (depicted on the 2 cents instead). This error, discovered too late when the coins had already been issued, makes the coin extremely rare. Its value ranges from EUR 2,500 upwards. 

2. Mode of issue: some rare coins are such because the mode of distribution has made them difficult to trace. This is the case with Finland’s 2 euro commemorative coins (2004). These coins were not bundled together but scattered in the normal 2-euro ‘rolls’, like the Chocolate Factory’s golden tickets. 

3. The issuing state: the country that distributes the coins can also make them rare, affecting quantity and availability. Tiny Eurozone states, such as Andorra, issue them in limited numbers. Some coins are rare because they are the first issued by a country that chooses to adopt a single currency, as was the case with Slovenia in 2007. 

4. Commemorative coins: in the case of euros, rare commemorative coins can only be 2-euro coins (this is specified by the ECB, which, among other things, approves the maximum volume of commemorative pieces that each State can issue each year). These are more easily found in circulation and become rare only in some instances we will see later.  

To understand which coins are rare, the criterion of rarity applies, i.e., the fewer specimens there are, the more valuable they are. This principle applies especially to rare antique coins that are no longer produced. It must also be specified that coins become more valuable if their state of preservation is close to the original one (‘Brilliant Uncirculated’). 

Rare 2 euro coins

Let’s see which are the rarest 2-euro coins in circulation. This category mainly includes commemorative coins. Here are the most valuable ones: 

• Finland 2004

This rare coin has a value of about 50 Euros; as anticipated, it is valuable because it is challenging to find. It depicts shoots growing upwards from a pillar, the first representing the new countries that joined the European Union, while the pillar is the institution itself. 

• Principality of Monaco 2007

These are the rare 2 Euros of Grace Kelly, issued on the 25th anniversary of her death. This coin is precious because only 2,000 were minted. It has a value of around €2,000. 

• Vatican City 2005

Rare 2-euro coins include the one issued in 2005 to celebrate World Youth Day in Cologne: This counts 100,000 examples, and its value is around €300. 

• San Marino 2004

This rare 2-euro coin has 110,000 units worth between 100 and 300 euros. It depicts Bartolomeo Borghesi, an Italian historian. 

• France 2019

Ranging in value from EUR 40 to EUR 100, there are rare 2-euro coins from France featuring characters from René Goscinny’s Asterix and Obelix comics. 

• Slovenia 2007

Slovenia has issued 400,000 rare 2-euro coins to celebrate the 50th anniversary of the Treaties of Rome that led to the birth of the European Union. These are worth around €50. All Eurozone states minted this coin with the same image (an open book and the inscription ‘Europe’), only the inscription is in the various national languages.

Rare 2-euro non-commemorative coins, i.e. those issued routinely by Central Banks, include those of Greece 2011 (15,000), Greece 2007 (20,000), Greece 2004 (30,000), Cyprus 2013 (90,000), Cyprus 2015 (100,000).

Rare 1 euro coins

If you are looking for rare 1 euro coins, you have to consider that there are no celebratory specimens as in the case of the 2 euro. Rarity consists only of the limited edition and the year of issue. Let’s look at some examples. 

• Andorra 2018: circulation 20,000 
• Austria 2012: print run 60,000 
• Belgium 2013: circulation 25,500
• Cyprus 2013: circulation 100,000
• Estonia 2016: circulation 20,000
• Finland 2018: print run 50,000
• France 2015: circulation 35,500
• Germany 2018: circulation 42,625
• Greece 2017: circulation 16,200
• Ireland 2016: circulation 89,000
• Latvia 2018: circulation 7,000
• Lithuania 2018: print run 5,000
• Luxembourg 2018: circulation 63,000
• Malta 2014: circulation 25,000
• Principality of Monaco 2011: circulation 7,000
• Holland 2017: circulation 47,017
• Portugal 2012: circulation 44,000
• Republic of San Marino 2016: circulation 30,400
• Slovakia 2018: circulation 17,300
• Slovenia 2018: circulation 8,750
• Vatican City 2005: print run 60,000

Rare coins: lire

Some rare coins are now out of use, like our old lire. Before rummaging through grandma’s drawers, here’s a list of those worth a fortune! 

• 10 lire of 1947: depicting an olive branch and a winged horse, they can be worth up to 4,000 euros if in good condition.
• 2 Lira 1947: this coin was minted on the occasion of the signing of the peace treaty with the victorious states of the Second World War on 10 February 1947. It depicts an ear of wheat and a farmer worth about EUR 1,800. 
• 1 lira of 1947: This rare coin depicts an orange branch and a woman with a crown of spikes. It is one of the rarest pieces, with a value of over 1,500 euros. 
• 50 lire of 1958: depicting the god Vulcan working with metal and the inscription ‘Repvbblica italiana’, it was minted in 800,000 examples. It is worth up to 2,000 euros. 

Generally speaking, the most valuable lire are those minted between the 1940s and 1950s; to be sure of their value, it is necessary to rely on expert advice. 

The world’s rarest coins 

Even among foreigners, there are rare coins worth staggering sums: 

• Flowing Hair Silver Dollar: this is a 1794 dollar that has reached a valuation of $10 million. It is valuable because it was the first coin the US federal government issued in the first mint in Philadelphia. 
• Double Eagle: another dollar with an incredible history. In 1933, President Roosevelt ordered the destruction of the gold series of that year, which had 445,000 units. Ten units, however, were not disposed of by the Secret Service over the years, but managed to track down all of them. The last one was owned by King Farouk of Egypt and was auctioned for $7.6 million. 
• Brasher Doubloon: this coin was privately minted in 1787 by goldsmith Ephraim Brasher. It was purchased in 2011 for $7.4 million.
• Edward III: There are only an estimated three copies of this ancient coin worldwide; one sold for $6.8 million. It was a gold coin used between 1343 and 1344. 
• Gold Dinar: an ancient gold coin issued by an Arab caliph of the Umayyad dynasty around 700. The Gold Dinar is made of 4.75 grams of gold and was sold in 2011 for $6 million. 
• Liberty Head Nickel: a 1913 US 5-cent coin minted ‘clandestinely’. There are only five examples globally, three of which are privately owned. In 2018, one was sold for $4.5 million. 
• Queen Elizabeth II: A gold pound sold at auction for $4 million, depicting Queen Elizabeth II Queen from 1953 to 2022. 
• Queller’s dollar is an 1835 silver dollar from the Queller’s collection, sold in 2008 for $3.7 million. 

Rare Coins: Where to Sell?

After this overview, the question arises: Where do you buy or sell rare coins? If you are an expert and are familiar with the ones you have in your hands, getting by might be the best solution, which is why it is helpful to frequent flea markets or specialised online marketplaces. Copies can also be found on eBay, where you should beware of scams. If, on the other hand, you are wondering where to sell rare coins as a beginner, the best choice is to rely on professionals such as numismatic shops or auction houses, which are also online (such as Catawiki).

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The US presidential elections are getting closer and closer. What to pay attention to? 

US elections 2024: from the candidates to the exact date of the ballot call to speculation on the results, the world has already begun to wonder about the upcoming US presidential election. 

In this simple guide, the event will be reviewed so that you arrive prepared for one of the most eagerly awaited elections in the world, the 60th for the country. Moreover, in a few days, the primaries will begin defining the candidates who will compete for the United States of America president: who will win the 2024 US elections?

When are the next US elections? 

Presidential elections in the United States are held every four years on the first Tuesday in November. Therefore, the next US election will occur precisely on 5 November 2024. Voters will go to the polls to elect a new president, officially taking office on 20 January 2025.

These consultations are crucial in American democracy and attract national and international attention as they influence a wide range of global issues. That is why the focus on them is always at the highest level. 

Candidates

Before going into the details of the 2024 US elections, a few clarifications are in order. The party system in The Stars and Stripes is dominated by two main political parties: the Democrats and the Republicans. Both play a central role in US politics and exert considerable influence on the political process and elections at all levels of government.

In November 2022 came the first confirmation of participation, with Donald Trump announcing his candidature for a second (non-consecutive) term as head of the Republicans. A few months later, in the spring of 2023, President Biden made it official that he would run for a second term with the Democrats. These two influential names were joined by others, more and less well-known. From the outset, the Dems’ line-up was less dense than that of the Republicans. 

In summary, the candidates for the 2024 US elections for the Democrats are as follows: 

• Joe Biden
• Robert Francis Kennedy Jr
• Marianne Williamson
• Dean Phillips

The Republican candidates, on the other hand, are: 

• Donald Trump
• Ron DeSantis
• Doug Burgum
• Larry Elder
• Nikki Haley
• Tim Scott
• Asa Hutchinson
• Chris Christie
• Mike Pence
• Vivek Ramaswamy
• Perry Johnson
• Ryan Binkley
• Will Hurd

But who, among these, will be chosen to lead each political party? The primaries at the beginning of 2024 will decide this. Primary elections are standard consultations in which voters choose the presidential candidates who will represent their party in the general election. 

It is worth mentioning that all candidates in US elections must comply with Article 2 of the Constitution: the person to be proposed must be a citizen from birth, must be at least 35 years old, and must have resided on US soil for at least 14 years.

US primaries 2024: who are the favourites?

The US primary elections are just around the corner, with voting for the Republicans starting on 15 January in Iowa and continuing in the other states in the following weeks and months. As is almost always the case in history, those in opposition (in this case, the Republican ones) are to be followed since it is scarce for the outgoing president, Joe Biden, to lose those on his side. Polls estimate that the current president is ‘the choice’ of almost 70% of Dem voters. However, given his no longer young age, the Democratic Party primaries could also hold surprises. 

On the Republican front, the favourite to date is still Donald Trump. According to recent polls on the US Election 2024, the tycoon has 47%, 45.7% and 53% of the support in the three key seats of Iowa, New Hampshire and South Carolina, respectively. In second place is Nikki Haley, the former South Carolina governor, who ‘controls’ 14.3%, 18.7%, and 22% of the electorate, respectively. Ron DeSantis, the current governor of Florida who looked like he could be the former president’s main antagonist, has lost ground in several caucuses (meetings where voters debate and vote for candidates) apart from that of Iowa, where he still has 17.3% of the vote.

US elections 2024 and cryptocurrencies

Those in the crypto sector will also watch the 2024 US elections closely. Indeed, US government policies are perfectly capable of influencing the regulation of virtual currencies. For instance, choices regarding rules, financial regulations or anti-money laundering laws can directly impact how crypto is used and traded in the US.

Some candidates or administrations may be more or less inclined to support technological innovation, including blockchain technology and cryptocurrencies. Therefore, policies aimed at promoting new technologies could have a positive impact on the ecosystem.

The consequences could also be fiscal and thus concern the taxation of cryptocurrencies (here all things to know about Italian regulations). More generally, positive news for the sector could increase asset prices with positive repercussions for the global crypto market. Will the 2024 US election candidates be able to stimulate the industry? 

You are on the blog of Young Platform, the Italian platform for buying cryptocurrencies. Here you can find the latest news on blockchain, Bitcoin and more. Follow us and stay updated on the US 2024 elections and much more.

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What is automated trading, and how does it work? An intelligent solution for asset trading 

Automated trading has emerged as a crucial component in the contemporary financial landscape, revolutionising how investors interact with financial markets. 

This system employs algorithms, and thus mathematical formulas, to execute buy and sell orders, entrusting a computer programme with the task of operating according to well-defined trading strategies. But what exactly does this approach entail, and its advantages and disadvantages? In short, what is automated trading, and how does it work?

Automated trading: what is?

Automated trading enables you to participate in the financial markets using a computer program that executes trades based on predetermined entry and exit conditions. Traders typically use a combination of technical analysis and setting parameters for their positions, such as opening orders, trailing stops, and guaranteed stops. Automated trading handles trades automatically from start to finish, so you can spend less time monitoring your positions.

Automated trading allows you to execute many trades quickly while removing emotion from trading decisions. All the rules of the trade are already built into the parameters you set. Additionally, some algorithms allow you to use predetermined strategies to follow trends and trade accordingly.

Automated trading: how does it work?

Automated trading systems rely on algorithms or indicators to determine the appropriate times to buy or sell a particular asset. These computer programs may use indicators like the RSI, MACD and Bollinger bands or more complex mathematical and statistical analyses. Once programmed, they operate autonomously, following preset guidelines. 

One of the main strengths of these tools is that they allow investors to maintain a more detached approach. However, it is still necessary to constantly monitor that everything is working correctly. Those who use automated trading tend to be less emotionally involved, a strength when trading in the financial markets. In this sector, emotions can, in fact, condition or even destroy correct and rationally constructed strategies.

How widespread is it?

Knowing what algorithmic trading is also means knowing how popular it is worldwide. This market (or sub-sector) is steadily expanding and is gradually winning over many institutional investors (investment funds and large banks) and retailers or retail investors.

Globally, the trading industry has been valued at USD 2 billion in 2022, while the annual growth rate is about 7%. This means that it is estimated to reach a value of 3.5 billion by 2030. The main reason for the recent expansion is related to the increasing quality of these instruments that have become, over time, more and more accurate and reliable

Automated trading: advantages and disadvantages

Automated trading, like any type of market trading, has advantages, disadvantages, risks, and opportunities. There are no recipes for success; each strategy or indicator must be placed in a specific context. This is why it is necessary to achieve adequate preparation and specific skills before venturing into the world of trading. 

The discourse may differ if one intends to buy and hold an asset over the long term. An easy strategy to set up in this sense is recurring buying, which requires periodic purchases at regular intervals. If this possibility intrigues you, you can explore Young Platform’s ‘piggy bank’ feature, an easy way to buy crypto by averaging the purchase price.

CTA

Returning to the central theme of this article, namely understanding what automated trading is and how it works, let’s look at the main advantages and weaknesses of this type of trading.

Advantages

1. Less emotional involvement: automated trading, algorithms and indicators allow traders to trade according to a rigid strategy. This is very useful to avoid acting impulsively and not being influenced by the movement of the markets.

2. Speed of execution: thanks to automatic trading, orders are executed almost instantaneously once the pre-set conditions occur. This way, more time can be devoted to planning the strategy, and the implementation phase can be experienced with peace of mind.

3. Ability to manage several strategies at the same time: an automated system can follow several strategies or positions at the same time. This makes obtaining a sufficiently diversified portfolio easier, a fundamental component for trading and investing.

Disadvantages

1. Need for monitoring from a technological point of view: contrary to what one might think, automated trading also requires supervision. If you choose to opt for this solution, you must be aware that it is necessary to monitor the functioning of the algorithm regulating the system.
2. Risks of non-conforming performance: past performance does not guarantee future results, which may lead to overly optimistic projections.

In conclusion, having understood what automated trading is and how it works, it is worth reiterating that, although it offers numerous advantages, it has risks. Nevertheless, the number of trades handled through this modality is constantly growing.