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_5-people-who-fell-off-the-2024-billionaires-list.webp "$14.2 trillion, on Forbes’ 2024 World’s Billionaires list—but not everyone is celebrating. An unlucky quarter of those on the ranking are poorer than they were in 2023. And 189 people fell below the $1 billion threshold, losing their membership to the three-comma club entirely.<br/><br/>These billionaire drop-offs include moguls behind some notable brands, such as Estée Lauder heir Gary Lauder; Hajime Satomi, former CEO of Japanese gaming company Sega Sammy; and David Tran, owner of the company behind Sriracha hot sauce.<br/><br/>The overwhelming majority of the losses came from China, one of the few huge markets to sputter in an otherwise-positive year amid fallout from slower economic growth, a property market glut, a decline in foreign investment and rising geopolitical tensions. China shed 133 billionaires (including Hong Kong and Macau) since last year’s list. That includes Tang Binsen, founder of the sparkling water company Chi Forest; Hui Ka Yan, chair of embattled real estate developer Evergrande Group; and copper and cable magnate Wang Wenyin, who was worth $19 billion a year ago but dropped from the list after a Chinese court froze his shares of metals company Amer International Group.<br/><br/>The United States, meanwhile, which has the most billionaires of any country, only saw eight billionaires drop from the ranks, followed by Japan (6) and Russia (5).<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/richardjchang/2024/04/02/heres-who-fell-off-forbes-2024-billionaires-list/?sh=5134cd861fd0<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
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_norfolk-southern-offers-settlement-to-resolve-lawsuits-related-to-2023-derailment.webp "Norfolk Southern Offers , Settlement to Resolve Lawsuits , Related to 2023 Derailment.<br/>Train operator Norfolk Southern has agreed to pay $600 <br/>million as part of a settlement to a class-action lawsuit as <br/>part of a February 2023 derailment in East Palestine, Ohio.<br/>Train operator Norfolk Southern has agreed to pay $600 <br/>million as part of a settlement to a class-action lawsuit as <br/>part of a February 2023 derailment in East Palestine, Ohio.<br/>Associated Press reports that the agreement, which would <br/>resolve all class action lawsuits within a 20-mile radius <br/>from the derailment, is still pending court approval.<br/>Associated Press reports that the agreement, which would <br/>resolve all class action lawsuits within a 20-mile radius <br/>from the derailment, is still pending court approval.<br/>According to the agreement, the settlement would also <br/>resolve personal injury claims within a 10-mile radius of <br/>the accident site for residents choosing to participate.<br/>According to the agreement, the settlement would also <br/>resolve personal injury claims within a 10-mile radius of <br/>the accident site for residents choosing to participate.<br/>On April 9, Norfolk Southern said that <br/>the settlement does not constitute an <br/>admission of liability or fault for the fiery crash.<br/>The East Palestine derailment has already cost <br/>Norfolk Southern over $1.1 billion, including <br/>$104 million in aid for residents and the town. .<br/>The East Palestine derailment has already cost <br/>Norfolk Southern over $1.1 billion, including <br/>$104 million in aid for residents and the town. .<br/>AP reports that while the company has promised <br/>to create a fund to help pay for the community's <br/>long-term health needs, that fund has yet to be created. .<br/>AP reports that while the company has promised <br/>to create a fund to help pay for the community's <br/>long-term health needs, that fund has yet to be created. .<br/>Norfolk Southern CEO Alan Shaw said that the railroad operator is, “becoming a more productive and efficient railroad. .<br/>There is still more work <br/>to be done to achieve <br/>industry-competitive margins, Alan Shaw, Norfolk Southern CEO, via Associated Press.<br/>There is still more work <br/>to be done to achieve <br/>industry-competitive margins, Alan Shaw, Norfolk Southern CEO, via Associated Press.<br/>The operator reported preliminary Q1 earnings of <br/>23 cents per share, reflecting the impact of the settlement and cleanup costs for the derailment.")
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