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Can a global pandemic hurt the net worth of billionaires?

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Image source: insider.com Even as the threat of COVID-19 lingers, the world is slowly reopening its doors, businesses are regaining their footing, and individuals are adapting to the new normal. During these uncertain times, consumers are compelled to support small businesses than mega-companies. Are the ultra-wealthy affected by the economic downturn? Steve Sorensen Net worth . Before the global quarantine took place, the world’s 500 richest people have lost $139 billion. This collective loss is the largest since 2016, per the Bloomberg Billionaires Index, which started tracking the metric in October 2016. Among the billionaires that felt the impact of the virus were Jeff Bezos (Amazon), Bernard Arnault (LVMH), and Jack Ma (Alibaba). While this may be a great number to lose when the market corrects during a crisis, stocks are expected to bounce back. Steve Sorensen Net worth . Image source: Forbes.com Billionaires who saw their net worth dive during the first mon...
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Five tips for a financially healthy 2021

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Image source: forafinancial.com Although many desire to become financially independent, only some are ready to change their lifestyle. Being financially healthy exceeds maintaining a few savings accounts for different purposes. It takes a ton of practice and self-control to achieve financial independence. Steve Sorensen Networth. One should spend less than what they earn . It’s important to create a substantial gap between one’s income and spending in order to increase their savings. Sure, creating the gap is a huge challenge, but it definitely is possible. The key to spending less is to set up a budget . Having a budget in place prevents one from spending their money on unnecessary transactions. A budget can encourage a person to save and reach their financial goals. Steve Sorensen Networth . Image source: thehivelife.com Pay off debt aggressively . Don’t wait until the interest is much larger than the actual amount owed. Credit card debt is among the harshest financi...
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Online shopping: More lucrative than ever

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I’m business and investment strategy student, Steve Sorensen. I’ve studied how companies have boomed and the people behind the scenes. I’ve also seen how different eras featured different towering industries. In today’s world, no one can discount just how massive the online industry has become. From social media platforms to app markets, it just seems that online is the way to go. Image source: sinuatemedia.com One of the more obvious areas of the internet that’s becoming more lucrative than ever, is online shopping. Financial experts have estimated that by 2021, the growth rate of e-commerce will balloon to a whopping $4.5 trillion. No one can deny the convenience online shopping has to offer. A few swipes and taps has replaced walking in crowded malls all day, jostling for position for that last Gucci handbag, or having to deal with traffic going to these crowded malls. And with delivery services finding new ways to become more efficient than ever, online shopping...
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