Tag Archives: Amazon

Nas Reportedly Makes $40M After Amazon Acquires ‘Ring’ for $1.2B

Reports surfaced noting Nas may have taken home $40 million after Amazon acquired Ring, a company that specializes in home security systems. Amazon bought the company for a whopping $1.2 billion.

Everyone knows that Nas is one of the most legendary rappers in the game. His debut album, Illmatic, is considered one of the best rap albums of all time. Nas’ rap career spans over twenty years, but the Queens rapper has been more focused on his business ventures in the last few years.

Nas’ business firm, Queensbridge Venture Partners, has invested in several companies over the past few years such as Lyft, Dropbox, Rap Genius, and SeatGeek. Ring, a company that specializes in video-door bell services, security cameras, and home security systems, was one of QueensBridge Venture’s earliest investments, and now the company has been scooped up by Amazon.

Amazon has been focusing on the “smart home” industry heavily recently, pushing items like their AI speakers and in-home delivery service to consumers worldwide. According to Axios, Amazon likely paid more than $1.2 billion for Ring. After the deal, Ring released a statement regarding the billion dollar transition.

“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our Neighbors that make a positive impact on our homes, our communities, and the world. We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.”

 

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8 Men Control Half of World’s Wealth

According to a report released by Oxfam, the disparity between the rich and poor is even more dramatic than previously thought.8 men, the report says, control as much wealth as 3.6 billion people, or close to half the world’s population.

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Oxfam cited Forbes’ March 2016 billionaires list to substantiate their claim. In order, the 8 men that control half the world’s wealth are Microsoft founder Bill Gates whose net worth is $75 billion; Amancio Ortega, the Spanish founder of Inditex; Warren Buffett; Carlos Slim Helu; Jeff Bezos of Amazon; Mark Zuckerberg; Oracle’s Larry Ellison; and Michael Bloomberg.

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Oxfam warns that this kind of economic inequality will inevitably lead to more drastic and extreme political changes, like the United States’ election of Donald Trump and Britain’s vote to leave the EU.

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Winnie Byanyima, executive director of Oxfam International, said, “It is obscene for so much wealth to be held in the hands of so few when 1 in 10 people survive on less than $2 a day. Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.”

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SOURCE: VLADTV