Massa among world’s top business figures of 2022, says Folha
Wednesday 28 December 2022 – 08:29 UTC
Massa (L) became a kind of prime minister who saved Alberto Fernández’s (R) government from a political crisis, Folha said
Argentinian Sergio Massa has been voted one of the 10 most influential people of the year in business and finance by leading Brazilian newspaper Folha de Sao Paulo. The list also includes Elon Musk, Jerome Powell, Bernard Arnault and Christine Lagarde.
Musk, CEO of Tesla and Starlink, bought Twitter for $44 billion this year, which restored numerous accounts to users who had been banned for posting content deemed controversial by previous owners. Musk officially submitted his bid to acquire the company on April 14, but the deal wasn’t finalized until October. “In early November, he made massive layoffs across the company, around 7,500 worldwide,” Folha explained.
LVMH CEO Arnault became the richest man in the world in 2022. The Frenchman’s family is worth $188 billion after Tesla’s stock price slump ousted Musk. “Arnault had already briefly topped the richest spot in 2021, overtaking then-richest man in the world, Amazon founder Jeff Bezos. No European has held the top spot in the ranking of billionaires since October 2015,” the newspaper said of the owner of Louis Vuitton and dozens of other brands, from champagne to five-star hotels.
Indian Gautam Adami overtook billionaire Amazon founder Jeff Bezos to become the second richest person in the world in 2022. He owns India’s largest corporate conglomerate and has assets estimated at $150 billion. Its holding company is active in areas such as coal mining, port and airport management, cement manufacturing and gas distribution, and renewable energy generation.
Federal Reserve Chair Jerome Powell was behind this year’s global inflation hike as US interest rates rose in March for the first time since 2018, “signaling the start of aggressive monetary policy to fight inflation despite the uncertainties brought on by the Ukraine war.” , which had just begun,” argued Folha.
Lisa Cook was the first black woman to serve on the Federal Reserve Board. She has a doctorate in economics from the University of California and has done research on the labor market and racial differences.
Mauricio Claver-Carone was sacked as CEO of the Inter-American Development Bank (IDB) in September after he was accused of having an affair with a female employee. He faced stiff opposition after being nominated by former US President Donald Trump for the post in September 2020, breaking with a six-decade tradition of being a Latin American chief. He was replaced by Brazilian Ilan Goldfajn, who had been a top International Monetary Fund (IMF) official by then.
The President of the European Central Bank and former Executive Director of the IMF, Christine Lagarde, also had to cope with a sharp rise in prices. Folha insisted that inflation remained on its upward trend due to the war in Ukraine. Under her, the ECB raised eurozone interest rates for the first time in 11 years.
Kwasi Kwarteng was appointed UK Treasury Secretary on 6 September by then Prime Minister Liz Truss. His tax cut package caused UK debt to plummet, eventually leading to Truss’s resignation.
Former Fed Chairman Ben Bernanke received the 2022 Nobel Prize in Economics along with Douglas Diamond and Philip Dybvig for their investigations into why banks are necessary, why they are vulnerable and what to do about it through their scientific research.
Folha highlighted Sergio Massa’s takeover of the enlarged Ministry of Economy in Argentina, who “rescues Alberto Fernandez’s government”.
“Massa effectively acted as Argentina’s prime minister,” Folha pointed out. “The new superminister announced a package of measures to try and bring stability to the country with a review of social spending and the strengthening of central bank reserves to avoid debt, in a pro-market tongue in cheek. Thus, in Massa, Fernández saw an opportunity to recover and recover the economy [save his] Government, which at that moment was being hit by the political crisis with the Vice-President [Cristina Fernández de Kirchner]’ the São Paulo newspaper concluded.
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