This year the event was held in Greensboro, North Carolina at the Coliseum. More than twenty thousand entrepreneurs attended the star-studded event this past August. This year marked the 25th anniversary celebration for Market America Convention 2017. With this in mind, the Coliseum was set up for optimal viewing for every guest. This setup also demonstrated our family attitude that we embrace for each and every one of our entrepreneurs. Several recognizable names, including Jamie Foxx and Scottie Pippen, gave special performances for the new products and initiatives. Many new and exciting opportunities are on the horizon, all of which were discussed in detail at the event.
Inside Philanthropy recently featured Dick DeVos in an article explaining his life and career. The article begins with a discussion on how Richard Devos earned his fortune. In particular, the article described that Richard DeVos earned his wealth through “direct marketing” schemes. While “direct marketing” schemes are a controversial topic, the article handled this controversial topic deftly. It acknowledged the criticism but also pointed out the great success it brought to Richard Devos. The focus of this article, however, was not Richard Devos’ wealth but was instead what Dick DeVos did with that wealth.
Dick DeVos uses his wealth to influence a variety of important institutions in society. The primary beneficiaries of Dick DeVos’ generosity are initiatives for education reform and politicians who reflect his conservative values. His investments in education reform have proven particularly successful. These investments have allowed thousands of poor students to attend and succeed in private schools. Similarly, Dick DeVos created the first public charter high school for aviation. Dick DeVos also gives generously to the arts. One of their most innovative pursuits is ArtPrize. ArtPrize is based in Grand Rapids, Michigan and is a competition decided by public vote and an expert jury.
Dick DeVos’ donations also reflect his belief in free market economics. He was a significant supporter of a right to work law in Michigan that would have prevented forced unionization of workers. In addition to his advocacy for a right to work, DeVos also gave to the Heritage Foundation, which is a think tank based on principles of free enterprise and limited government.
For almost 40 years, Bruce Levenson has been running successful businesses. He started his first company, the United Communications Group, in a room in his apartment in Washington DC in 1978. He co-founded the business with Ed Peskowitz. UCG provided valuable information to businesses in the energy, telecommunications, healthcare, banking, and many other industries through their publication Oil Express. UCG soon bought of a series of other newsletters and founded a number of databases. One of the most prominent was the Oil Price Information Service. The company also owned GasBuddy, an app that guided motorists to the lowest gas prices in their community.
While Levenson was long well-known and highly-respected in the business community, the average person never heard of him until he became a majority partner in the Atlanta Spirit group that bought the Atlanta Hawks in 2004 for $250 million. Levenson and the Atlanta Spirit improved the team, hired a new coach and general manager, cut payroll, and in 2014-15 the Atlanta Hawks had their best season in team history. At the end of the season, Levenson and the Atlanta Spirit sold the team for $850 million. It was yet another good business deal for Bruce Levenson.
Another business in which Levenson was involved was the IT media company TechTarget. Levenson was director of this publicly traded company for its first 13 years of existence. He also served as an advisor for the private equity firm BIA Digital Partners. But it is in the publishing industry where Levenson’s work is most appreciated and celebrated, and rewarded with numerous accolades. Levenson was a member of the Newsletter and Electronic Publishers Association Board of Directors. In 1997 he was inducted into the Hall of Fame of the Software and Information Industry Association.
Another area of Forbes billionaire Bruce Levenson‘s life of which many people are not aware is his philanthropy. For decades he has given his time, talent, and millions of dollars to a number of charitable causes without much fanfare. He was one of the U.S. Holocaust Museum’s founding donors and provides the funding for its program which trains students from the inner city to serve as tour guides. The program is called Bringing the Lessons Home. Levenson was also president of the Washington chapter of an educational program for low income youth called the I Have a Dream Foundation
Levenson has also long been involved in philanthropic organizations like the Hoop Dreams Foundation, Washington, D.C.s Community Foundation, the Jewish Youth Philanthropy Institute, Seeds of Peace, the SEED Foundation, and many others. Levenson and his wife Karen also helped to create the Center for Philanthropy and Nonprofit Leadership in 2010. The center, which is housed on the campus of the University of Maryland, teaches students how to start, fund, and run nonprofit organizations.
The center also works to make students aware of the importance of philanthropy and provides them with information on philanthropic organizations worldwide that are having an important impact on people’s lives. The students are encouraged to support them.
Kenneth C. Griffin is an American hedge manager and the proud owner and the CEO of the multibillion dollar hedge fund company Citadel. He was born on the 15th of October 1968 in Dayton Beach, Florida. After joining Harvard University to pursue a degree in economics, Ken Griffin on citadel developed interest in hedge fund and its management after he came across a Forbes magazine article and read it. His interest pushed him and by his second academic year at university he had already founded and established a hedge fund that was dedicated to convertible bond arbitrage. Lacking enough capital to start and finance the hedge fund, Griffin borrowed money from family and friends. His grandmother gave him her lifetime savings that totaled up to $265,000. This wasn’t enough. He needed technology so as to keep track and updated of the real time statistics market data. For this reason, he installed am makeshift satellite-like device in his residence to serve him. He then launched a second fund in 1987 that managed about $1 million. In 1989, he completed his bachelors from Harvard University and graduated with a distinction.
Ken Griffin manages an alternative investment management company, Citadel that is considered as being one of the largest and highly profitable in the world. Citadel is estimated to be having assets and capital that are over $26 billion in total. The 2012’s most paid hedge fund manager and household name in Forbes 400, a New York investor, Frank Meyer provided Griffin with funding of $1 million make an investment in hedge funding. After accumulating funds to a tune of $4. 6 million, he founded Citadel in 1990. Through consistency in the business, Citadel grew to having more than $1 billion investment and over 100 employees who were experienced and highly skilled. At the age of 34, he appeared on the Forbes list and being the youngest ever to appear and was valued at $650 million. Fortune magazine too enlisted Griffin as being 35th in America among the self-made young and wealthy category who are below forty years in 2004. In March 2015, the Great Places to Work Institute awarded Citadel as the best workplaces in the finance industry in America.
Recently, he hit many newspaper headlines by making a historic donation of $150 million to his former college, Harvard University’s Financial Aid Office. To honor the historic donation and the level of generosity that the alumni had portrayed, the Financial Aid Office was renamed to Ken Griffin ’89. The donation is meant to finance and brilliant Harvard University students. Although the donation was historic, it was not the first time he was supporting the institution. He had supported it since 1999 and established a scholarship for honoring his father named Wayne Gratz Scholarship. The 45-year-old is supports educational causes and a member of community guided organizations like Commercial Club of Chicago and Economic Club of Chicago. Griffin loves art and contemporary cultural centres through his support for Museum of Contemporary Art and Art Institute of Chicago. The father of three is estimated to be worth $6.6 billion, according to statistics and Forbes ranking of May 2015.
One of the biggest aspects of planning for the future is the financial side of life. There are few people that truly understand how to plan for the future when it comes to their finances. There are many different factors that come into play when planning financial decisions out twenty or thirty years. Working with an investment bank that understands these different factors is a huge advantage to people that are working to plan out their future. Highland Capital by James Dondero has a lot of experience in working with their clients in planning out their future. Here are several things that must be taken into account by anyone planning their financial future.
Inflation is a measure of the increase in prices over a period of time. In general, inflation increases by a couple of percentage points each year. Anyone that is planning to retire must factor in inflation in anything that they do. The cost of living is going to be much higher several decades from now. People that do not take inflation into account when working their financial plans will underestimate how much capital they truly need. This is where the services of companies like Highland Capital will be so important to planning.
Rate of Return
The rate of return that can be earned on invested capital is another important factor to consider. In times of low interest rates, it can be difficult to earn a high rate of return without taking on a lot of risk. The current interest rates in the market are some of the lowest in history. Although this is good for borrowers, for people that are nearing retirement this can mean difficulty in finding high returns. Earning a high rate of return can make a huge difference in how long a specific amount of capital will last.
Another important factor to consider is future lifestyle needs of a person. For example, if a person is nearing the latter part of their life healthcare costs need to be factored in. Although most people plan on being healthy, there are many things in life that can cause a person to have ill health. Planning for an increase in these costs is just one example of future needs planning.
James Dondero is the President and founder of Highland Capital. He has done a great job in building up the business over the years to be one of the best in the industry. Over the years, Highland Capital has been able to help thousands of customers with their future financial planning. There are many different variables that must be considered in financial planning over a long period of time. Highland Capital is a great choice for people that want some professional help in this area.