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Vanguard quits climate alliance in blow to net zero project
Vanguard is pulling out of the main financial alliance on tackling climate change at a time when Republicans in the US have stepped up their attacks on financial institutions that they say are hostile to fossil fuels.
With $7.1tn under management and more than 30mn customers as of October 31, Vanguard is the second-largest global money manager after BlackRock. The group said on Wednesday that it was resigning from the Net Zero Asset Managers initiative, whose members have committed to achieving net zero carbon emissions by 2050.
Vanguard, which mainly manages passive funds that track market indices, said the alliance’s full-throated commitment to fighting climate change had resulted “in confusion about the views of individual investment firms”.
“We have decided to withdraw from NZAM so that we can provide the clarity our investors desire about the role of index funds and about how we think about material risks, including climate-related risks — and to make clear that Vanguard speaks independently on matters of importance to our investors,” the Pennsylvania-based company said in a statement.
NZAM was founded in December 2020 and had 291 members managing $66tn in assets as of November. Last year NZAM joined an umbrella climate finance organisation, the Glasgow Financial Alliance for Net Zero (Gfanz) upon its launch last year under Mark Carney, the former Bank of England governor. Vanguard will exit both groups.
In a statement, NZAM said Vanguard’s decision was regrettable.
“It is unfortunate that political pressure is impacting this crucial economic imperative and attempting to block companies from effectively managing risks,” said Kirsten Snow Spalding of Ceres, a coalition of investors and environmental groups and also a founding partner of NZAM.
Most of the largest global asset managers belong to NZAM, including BlackRock, State Street, JPMorgan Asset Management and Legal & General. Notable holdouts include Fidelity Investments and Pimco, both based in the US.
Vanguard said the move had been in the works for several months. It will continue to offer products that use environmental, social and governance investing factors and net zero products to investors who want them. Vanguard will also still ask the companies it invests in how they plan to address climate risks.
Last month, a group of Republican attorneys-general asked the Federal Energy Regulatory Commission not to renew Vanguard’s authorisation to buy shares in US utilities. They cited its NZAM membership as evidence that it was trying to influence corporate policy rather than being a passive investor.
That move is part of a larger attack by Republicans on ESG investing. Several Republican states have pulled cash management and other investment accounts from BlackRock, which has under founder Larry Fink been outspoken about the need to take into account climate change in investing. Texas comptroller Glenn Hegar said NZAM membership was one of the factors he used to compile a list of organisations he accused of “boycotting” fossil fuels.
Republican state attorneys-general have also demanded that Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo turn over information about their involvement in the banking arm of Gfanz.
Environmental groups accused Vanguard of duplicity after its announcement.
“Vanguard has never been serious about mitigating climate risk,” said Jessye Waxman, an official with the Sierra Club’s fossil-free finance campaign. For Vanguard, “joining NZAM was just an exercise in greenwashing”.
At least two pension funds, Cbus Super and Bundespensionskasse, have left the asset owner section of Gfanz, while investment consultancy Meketa has left another section. Several Wall Street banks including JPMorgan Chase, Morgan Stanley and Bank of America threatened to pull out over the summer because they were concerned that they could be sued over increasingly stringent decarbonisation commitments.
Gfanz responded by weakening its alignment with UN climate goals that called for members to roughly halve the emissions they are responsible for by 2030.
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Inside Taika Waititi’s £11 MILLION net worth
Rita Ora and Taika Waititi finally broke their silence on their wedding this week, with the singer admitting she is ‘very much in love’ and she’d ‘always wanted the fairytale’.
After the couple started dating in March 2021 they became engaged in June this year and secretly tied the knot two months later.
While the pair have never been afraid of packing on the PDA in public, they have kept mostly tight-lipped when it comes to discussing their romance.
Yet speaking on Jaime Winstone’s podcast this week, Rita confessed: ‘I’m in love. I’m very much in love. I’m in love, I’m in love, amen! But I love love as well. I’ve always been such a believer in it and I’ve always felt like I always wanted the fairytale and that’s what I grew up loving.’
Referencing her parents Vera and Besnik she added: ‘My parents have been together for over 30 years, so for me it was always about love and finding a partner and all that, so I’m really happy I did. I made that choice. It made me happy and I love Taika. He’s so funny and lovely.’
For New Zealand-born filmmaker Taika, 46, his relationship with Rita, 31, comes as he’s begun to build a name for himself in the public eye, with the director achieving global prominence in 2020 when he picked up three Academy Awards for his critically-acclaimed black comedy JoJo Rabbit.
Since bursting onto the filmmaking scene in the Noughties he now has 20 blockbuster movies to his name, with some of his most recent credits including Marvel blockbusters Thor: Ragnarok (2017) and Thor: Love and Thunder (2022).
Now MailOnline takes a closer look at Taika, the man who gave Rita her ‘fairytale’ ending by making her Mrs Ora-Waititi.
Introducing the Oscar-winning director who stole Rita Ora’s heart: New Zealand-born filmmaker and actor Taika Waititi (pictured with the singer) has over 20 blockbuster movies to his name
What is Taika’s net worth?
According to Celebrity Net Worth, Taika has a net worth of £11 million ($13m) through his work as an actor, director, and producer. He began his career working on indie projects, penning cult favourites such as 2014’s What We Do in the Shadows and 2016’s Hunt for the Wilderpeople.
He went on to build up his profile with his work on Marvel projects Thor: Ragnarok and Thor: Love and Thunder and his star is set to continue to rise as the director of the upcoming untitled Star Wars film and DC Comics’ live action version of Flash Gordon.
With his impressive roster of projects, Taika is perhaps the better known of the couple in the States. However, with Rita being an A-list celebrity in the United Kingdom, she has eclipsed her husband’s finances with a whopping net worth of £26 million ($22m) owing to her catalogue of hits.
She broke records in 2018 when her hit Let You Love Me reached number four in the charts, making her the first British female solo artist to have 13 top 10 songs in the United Kingdom. Rita has also dabbled in acting, taking on roles in the Fifty Shades franchise and the Detective Pikachu film.
Raking it in: According to Celebrity Net Worth, Taika has a net worth of £11 million ($13m) through his work as an actor, director, and producer. He began his career working on indie projects and recently on Marvel films
Who was Taika previously married to?
He got hitched to fellow Kiwi film producer Chelsea Winstanley at a New York City ceremony in 2011, but the pair are believed to have quietly split in 2018.
Taika met Chelsea, a member of the Academy of Motion Picture Arts and Sciences’ producer’s branch, when she interviewed him for a TV documentary series profiling Maori artists.
Having directed a number of docs, including the upcoming picture, Toi Tū, Toi Ora: Visual Sovereignty and Merata: How Mum Decolonised the Screen, which she produced in 2018, Chelsea was also billed as producer for her former husband’s 2019 horror mockumentary What We Do in the Shadows as well as Jojo Rabbit.
Chelsea co-produced Saving Grace, Te Whakarauora Tangata, a documentary about domestic abuse by filmmaker Merata Mita.
Exes: He got hitched to fellow Kiwi film producer Chelsea Winstanley at a New York City ceremony in 2011, but the pair are believed to have quietly split in 2018 (pictured in 2017)
Do they share any children?
The pair have two daughters: Te Hinekāhu, ten, and Matewa Kiritapu, six, while Chelsea previously gave birth to son, Maia, when she was 20 and went on to raise him as a single mother.
Taika has been known to bring the little ones onto the red carpet with him at premieres including Thor: Love & Thunder in July 2022, as well as 2019’s The Lion King.
Chelsea told The Spinoff in 2020 about balancing motherhood and her career: ‘I feel guilty about pursuing dreams, that I’m not that mum interacting with the school at the moment, the general mother guilt of working, and of course you know there will be some consequences of that’.
Doting dad: The pair have two daughters: Te Hinekāhu, ten, and Matewa Kiritapu, six, (pictured in June 2022) while Chelsea previously gave birth to son, Maia, when she was 20 and went on to raise him as a single mother
What is Chelsea doing now?
She has been based in her native New Zealand since 2019, where she told a national publication: ‘I’m just sick of women portrayed as living in the shadow of their partners, that’s all.
Chelsea continued to the New Zealand Herald: ‘I made one film with him, I was a film-maker before I met him and I continue to do my own stuff.’
Causing speculation that she had split with Taika following the 2020 Oscars, the mother-of-three posted a photo with her own mum at the awards.
She wrote: ‘This is a better one of my stunning mama date!! Way better date than a seat filler! (For those of you who have sent me sweet uplifting messages you know what I mean).’
Confirming the news, she went on to write, ‘#notmyhusband,’ alongside a portrait of Taika.
New life: She has been based in her native New Zealand since 2019, where she said: ‘I’m just sick of women portrayed as living in the shadow of their partners, that’s all’
What awards has Taika won?
Taika has garnered a number of honours and nominations, including an Academy Award, a British Academy Film Award, a Writers Guild of America Award, Golden Globes and Primetime Emmys.
For the 2005 short film Two Cars, One Night, he was nominated for an Academy Award for Best Live Action Short Film (2004).
He released the comedy-drama Jojo Rabbit in 2019, to critical acclaim, and nominations for the Academy Award for Best Picture, the Golden Globe Award for Best Musical or Comedy Film, and the Directors Guild of America Award for Outstanding Directing in a Feature Film. He also won the BAFTA Award for Best Adapted Screenplay.
Taika was named an Officer of the New Zealand Order of Merit for services to film in the 2020 Queen’s Birthday Honours.
Talented: Taika has garnered a number of honours and nominations, including an Academy Award, a British Academy Film Award, a Writers Guild of America Award, Golden Globes and Primetime Emmys (pictured in 2020)
When did he start dating Rita Ora?
Rita sent fans into a frenzy when she took to Instagram in April 2021 to share a cosy photo showing Taika hugging her as she posed for the camera.
He and Rita went public in May when they arrived together at the premiere of RuPaul’s Drag Race Down Under at the Sydney Opera House.
They avoided being photographed on the red carpet, but took their seats side by side in the front row once inside the venue.
As they awaited the start, Rita and Taika talked closely together, whispering in one another’s ears as the singer appeared to lay her hand on Taika’s shoulder.
However he was caught up in scandal when he was photographed getting cosy on a balcony with his songstress girlfriend Rita and actress Tessa.
Both Rita and Tessa were in Sydney filming scenes for the Kiwi filmmaker’s upcoming Thor sequel Love and Thunder.
According to the Daily Telegraph, Marvel executives were left vastly unimpressed after seeing images of the Thor director cuddling up with the two women on the balcony of his Bondi home last Sunday.
The publication claimed that Taika’s display – in pictures obtained exclusively by MailOnline – also ruffled feathers among the bosses at Marvel’s parent company Disney.
Loved up: Rita sent fans into a frenzy when she took to Instagram in April 2021 to share a cosy photo showing Taika hugging her as she posed for the camera (pictured in September 2021)
What was his childhood like?
Taika, who was born Taika David Cohen, grew up on both the East Coast and in the Aro Valley of Wellington.
While his father was an artist of Te Whānau-ā-Apanui descent, his mother, Robin Cohen was a schoolteacher.
His parents split when he was five, and he was raised primarily by his mother.
After attending college, he studied theatre at Victoria University of Wellington where he graduated with a Bachelor of Arts in 1997.
Taika began receiving some fame in New Zealand after he began making comical short films and touring the country as part of comedy groups.
Throwback: Taika, who was born Taika David Cohen, grew up on both the East Coast and in the Aro Valley of Wellington
When did Taika and Rita reportedly marry?
Rita married director Taika in an intimate London ceremony, according to reports filed in August, and they were both then pictured with gold bands on their ring fingers.
The Hot Right Now hitmakerand her director partner started dating in March 2021, before going public with their romance that August.
A source told The Sun: ‘It was a really intimate ceremony and super special for everyone there. Their nearest and dearest can see how madly in love they are.
‘Despite living in the spotlight, Rita is determined to keep the relationship as private as possible and didn’t want to make a big song and dance about the wedding.
‘Rita’s already back in the studio working on her third album, with her latest session being with Ava Max and Noah Cyrus’ writer Rollo.’
Rita did little to quash speculation that she and Taika had secretly tied the knot, after she was seen wearing a gold band on her ring finger.
Some-ring to tell us? Rita did little to quash speculation that she and Taika had secretly tied the knot, after she was seen wearing a gold band on her ring finger
When did marriage rumours begin?
It was reported in June that the couple were to wed one another after almost simultaneously popping the question.
The British singer and the filmmaker were said to be planning an imminent, low-key ceremony abroad before celebrating with their fellow A-listers in a big London bash later this year.
It is understood that Rita, who is working on several films and The Voice Australia, and Taika, who is planning a string of movies, hope to tie the knot once their work commitments have wrapped up.
A friend told The Sun: ‘This isn’t about them doing a big showy thing and crowing about it beforehand. It’s just about them being in love and deciding the time is right to formalise their relationship. They couldn’t be happier.
‘They didn’t do a whole, “Will you marry me?” thing and an Instagram post. There’s no ring or big build-up. They just got closer and closer and eventually said to each other almost simultaneously, ‘I want to marry you.”
In August, the couple, who began dating in March 2021 after meeting in Australia, were said to be moving so fast in their relationship they started discussing marriage, a source told New Idea.
‘Taika calls Rita ‘wifey’ all the time and chats about how he’s going to be her first and last husband,’ the insider said.
‘Everyone around them downplays it as flirty banter, but [Rita is] definitely hoping he’s for real,’ they continued, adding that she is ‘absolutely obsessed’ with her Thor director beau.
At the time, Rita had reportedly started joking about getting married in a ‘quick, hippy-dippy’ Californian ceremony, and then celebrating with a bigger party at a later date.
Couple: It was reported in June that the couple were to wed one another after almost simultaneously popping the question (pictured in March 2022)
‘Ultra high net worth’ individuals with $50M or more spike to record high: report
A new report from Credit Suisse has found that individuals with assets worth more than $50 million, referred to as “ultra high net worth” (UHNW) individuals, spiked to a record high last year.
Credit Suisse’s Global Wealth Report, published on Tuesday, found that the number of UHNW individuals globally grew by 46,000 in 2021 to a total of 218,200.
As low-to-middle income families struggled to cope with the recent soaring food and energy prices, many ultra-rich individuals benefitted from the rise in housing prices and thriving stock market.
Meanwhile, families saw most of their savings wiped away due to the COVID-19 pandemic, leading them to incur higher debt.
“The strong rise in financial assets resulted in an increase in inequality in 2021,” the report said, stating that “the global wealth inequality has fallen this century due to the faster growth achieved in emerging markets.”
Forty-six thousand UHNW individuals also saw their wealth double by 50 percent within the two-year period.
“This is 46,000 more than the 218,200 recorded at the end of 2020, which in turn was 43,400 higher than in 2019. These increases are more than double the increases recorded in any other year this century,” the report said. “Taken together, it means that the number of adults with wealth above USD 50 million expanded by more than 50% during a two-year period.”
The report also stated that the recovery of macroeconomic activity in a low-interest environment has created favorable conditions for household wealth last year.
This comes as the number of U.S.-based millionaires individuals increased by 2.5 million last year, bringing the total number in the country to 62.5 million. The U.S. currently holds the largest number of millionaires in the world.
China, which harbors 10 percent of the world millionaires, comes in second place, followed by Japan, the U.K., and France.
Number of global ultra high net worth individuals hits record high | The super-rich
The ranks of the global “ultra high net worth” (UHNW) individuals swelled by 46,000 last year to a record 218,200 as the world’s richest people benefited from “almost an explosion of wealth” during the recovery from the pandemic.
The number of UHNW people – those with assets of more than $50m (£43.7m) – jumped in 2021 as the super-rich benefited from soaring house prices and booming stock markets, according to a report by investment bank Credit Suisse. The number of people in the UHNW bracket has increased by more than 50% over the past two years.
The huge increase in wealth of the richest 0.00004% of the world’s adult population comes as billions of low- and middle-income people – many of whom saw their savings wiped out during the pandemic – struggle to cope with soaring food and energy prices.
“The strong rise in financial assets resulted in an increase in inequality in 2021,” the report by Credit Suisse, which helps manage the fortunes of many of the world’s richest people, said. “The rise in inequality is probably due to the surge in the value of financial assets during the Covid-19 pandemic.”
Credit Suisse’s Global Wealth Report found that “the recovery of macroeconomic activity in a low interest environment produced exceptionally favourable conditions for household wealth growth during 2021”.
“We estimate that global wealth totalled $463.6tn at the end of 2021, a rise of $41.4tn (9.8%),” the report said. “Wealth per adult grew by $6,800 (8.4%) during the course of the year to reach $87,489, close to three times the level recorded at the turn of the century.”
Anthony Shorrocks, an economics professor and an author of the report, said there had been “almost an explosion of wealth last year … Probably higher than any other year we have ever recorded”.
The increase in wealth has not been distributed fairly. The richest 1% of the global population increased their share of all the world’s wealth for a second year running to 46%, up from 44% in 2020.
The number of US dollar millionaires increased by 5.2 million during 2021 to a total of 62.5 million – just under the 67 million population of the UK. Shorrocks said the number of millionaires was becoming so large that it was becoming “an increasingly irrelevant measure of wealth”.
More than a third of the millionaires live in the US, which is home to 24.5 million millionaires, or 39% of the world’s total.
The number of US millionaires increased by 2.5 million – almost half of all new millionaires minted across the world. “This is the largest increase in millionaire numbers recorded for any country in any year this century and reinforces the rapid rise in millionaire numbers seen in the US since 2016,” the report said.
China is in second place, with 10% of the world’s millionaires, ahead of Japan with 5.4%, the UK (4.6%) and France (4.5%).
Switzerland was once again named the richest country in terms of mean average wealth per adult at $700,000, ahead of the US at $579,000.
However, the inequalities in those countries are highlighted when the median average wealth per adult is examined. Switzerland falls to sixth place with a median wealth of $168,000 and the US drops to 18th place with $93,000. Australia is top of the median wealth table with $274,000.
UK adults have a mean wealth of $309,000 (14th place) and a median wealth of $142,000 (ninth place).
The country with the biggest jump in mean average wealth was New Zealand, which saw a $114,000 average increase to $472,000.
Gautam Adani net worth soars, making college dropout 3rd richest person
Few outside of India had heard of Gautam Adani just a few years ago. Now the Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, has become the world’s third-richest person.
It’s the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index—fellow citizen Mukesh Ambani and China’s Jack Ma never made it that far. With a $137.4 billion fortune, Adani has overtaken France’s Bernard Arnault and now trails just Elon Musk and Jeff Bezos of the US in the ranking.
Adani, 60, has spent the past few years expanding his coal-to-ports conglomerate, venturing into everything from data centers to cement, media and alumina. The group now owns India’s largest private-sector port and airport operator, city-gas distributor, and coal miner. While its Carmichael mine in Australia has been criticized by environmentalists, it pledged in November to invest $70 billion in green energy to become the world’s largest renewable-energy producer.
As his empire has expanded to one of the world’s largest conglomerates fueling the remarkable wealth gains, concerns have grown over the rapid growth. Adani’s deals spree has been predominantly funded with debt and his empire is “deeply over-leveraged,” CreditSights said in a report this month.
Some lawmakers and market watchers have also raised concerns over opaque shareholder structures and a lack of analyst coverage at Adani Group companies. Yet the shares have soared—some of them more than 1,000% since 2020, with valuations hitting 750 times earnings—as the tycoon focused on areas that Prime Minister Narendra Modi deems crucial to meeting India’s long-term goals.
The pivot to green energy and infrastructure has won investments from firms including Warburg Pincus and TotalEnergies SE, helping Adani enter the echelons previously dominated by U.S. tech moguls. The surge in coal in recent months has further turbocharged his ascent.
All told, Adani has added $60.9 billion to his fortune in 2022 alone, five times more than anyone else. He first overtook Ambani as the richest Asian in February, became a centibillionaire in April and surpassed Microsoft Corp.’s Bill Gates as the world’s fourth-richest person last month.
Adani was able to move past some of the world’s richest U.S. billionaires partly because they’ve recently boosted their philanthropy. Gates said in July he was transferring $20 billion to the Bill & Melinda Gates Foundation, while Warren Buffett has already donated more than $35 billion to the charity.
The two, along with Gates’s ex-wife Melinda French Gates, started the Giving Pledge initiative in 2010, vowing to give away most of their fortunes in their lifetimes. The billions of dollars spent on philanthropy has pushed them lower on the Bloomberg wealth ranking. Gates is now fifth and Buffett is sixth.
Adani, too, has increased his charitable giving. He pledged in June to donate $7.7 billion for social causes to mark his 60th birthday.
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Millennials’ average net worth doubled during pandemic, report finds
andresr | E+ | Getty Images
Covid-19 relief and record-low interest rates boosted many Americans’ finances during the pandemic. That has been especially true for millennials, who have on average built significant wealth.
Millennials, born between 1981 and 1996, have more than doubled their total net worth, reaching $9.38 trillion in the first quarter of 2022, up from $4.55 trillion two years prior, according to a MagnifyMoney report.
And millennials’ average net worth — defined as total assets minus total liabilities — also increased twofold during the same period, jumping to $127,793 from $62,758, the report found.
More from Personal Finance:
Nearly half of all Americans fall deeper in debt as inflation boosts costs
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Gen Z is stashing away 14% of income for retirement, study shows
However, the report finds the average millennial net worth still lags behind older generations, with Gen Xers and baby boomers reaching an average of $647,619 and $1,021,264, respectively.
Real estate more than a third of millennial wealth
With soaring home values over the past couple of years, it’s not surprising that real estate, including primary homes and other property, is more than one-third of millennials’ total assets.
The median U.S. home sales price was $329,000 during the first quarter of 2020, and the number jumped to nearly $429,000 two years later, according to Federal Reserve data.
However, millennials who recently bought homes may have significant debt, the report found. Nearly 63% of millennial debt is home mortgages, followed by almost 36% in consumer credit.
I would encourage millennials to focus more on their cash flow than net worth in this stage of their careers.
DJ Hunt
Senior financial advisor with Moisand Fitzgerald Tamayo
“I would encourage millennials to focus more on their cash flow than net worth in this stage of their careers,” said certified financial planner DJ Hunt, senior financial advisor with Moisand Fitzgerald Tamayo in Melbourne, Florida.
He said millennials may be “losing financial ground in the long run” if monthly mortgage payments prevent them from fully funding their retirement accounts.
Of course, the definition of a fully funded retirement account varies by individual, Hunt said.
While older millennials in their early 40s should aim to max out 401(k) contributions at $20,500 in 2022, younger workers should deposit enough to receive their company match, striving for up to 15% of gross income, he said.
Diversification is ‘name of the game’
Although owning and living in your home serves an important purpose, diversification is “the name of the game,” especially for younger investors with more time to build assets, said Eric Roberge, a CFP and CEO of Beyond Your Hammock in Boston.
If most of your wealth is home equity, it may be wise to focus on building retirement plans or a brokerage account, he said, suggesting 20% to 25% of gross income annually for long-term investments.
“For many people, a diversified portfolio will likely provide higher returns in the long-term,” he said.
Applying for a home equity line of credit
Momo Productions | Digitalvision | Getty Images
If you’re sitting on wealth in your home, it may be worthwhile to apply for a home equity line of credit, or HELOC, allowing you to borrow from a pool of money over time, if needed.
“It is always a good idea to have a HELOC in place if you have substantial equity in your home,” said Ted Haley, a CFP, president and CEO of Advanced Wealth Management in Portland, Oregon.
HELOCs are typically inexpensive to set up, with lower interest rates than credit cards, and there’s no added cost until you use it. While higher interest rates may impact how much and when to borrow, it’s still a “good idea” to have one, he said.
James Patterson: Books sold, net worth, celebrity collaborations
Check out what’s clicking on FoxBusiness.com.
Seventy-five-year-old author James Patterson has built a career writing hundreds of novels and children’s books, many of which have become bestsellers, ever since his early 20s.
Recently, Patterson recently stirred up controversy while promoting one of his latest books by saying white male writers are being subjected to “just another form of racism,” during an interview with The Sunday Times in London.
He later apologized for the remark saying on his social media pages that he doesn’t believe “that racism is practiced against white writers.” Adding, “Please know that I strongly support a diversity of voices being heard — in literature, in Hollywood, everywhere.”
Even so, his stable of work has made him one of the world’s richest authors. FOX Business takes a deep dive into his net worth.
What to know about James Patterson:
Net Worth
To date, Patterson’s wealth rivals blockbuster authors including J.K. Rowling.
In 2020, Forbes estimated that he pulled in $80 million for the year, likely making him America’s highest-paid author, selling nearly 5 million books in the U.S. between June 2019 and June 2020.
In 2019, he came second, right after J.K. Rowling, on Forbes’ list of the world’s highest-paid authors, pulling in $70 million.
Author James Patterson poses for a portrait in New York. (Taylor Jewell/Invision/AP / AP Newsroom)
According to Forbes, his net worth was estimated at $800 million in 2018.
Books sold
Patterson has already published 319 books. About 109 of them have been New York Times bestsellers, according to his publisher, Hachette Book Group. Several of his books have also been made into movies or a series such as “Alex Cross” or “The Postcard Killings.”
Patterson has sold 425 million copies worldwide, however, his top-selling book was “Along Came a Spider.”
“The Stories of My Life” James Patterson by James Patterson (Little, Brown and Company)
His latest memoir “James Patterson: The Stories of My Life,” was released earlier this month. The book dives into how Patterson grew up in a small town in New York to eventually “become the world’s most successful writer.”
Patterson has several upcoming books that are set to be released through November 2022.
James Patterson, Author (Stephanie Diani )
Famous collaborations
“The President Is Missing” which he co-authored with Bill Clinton and “Run, Rose, Run” which he co-authored with Dolly Parton, have been his most notable collaborations.
Dolly Parton performs in concert at the Ryman Auditorium in Nashville, Tenn. (Photo by Wade Payne/Invision/AP, File / AP Newsroom)
He has also worked with various authors including J.D. Barker, Candice Fox, Maxine Paetro, Andrew Gross, Mark Sullivan, Ashwin Sanghi, Michael Ledwidge, Howard Roughan and Peter de Jonge.
The Associated Press contributed to this report.
Fan Glues Herself to the Net During French Open Semifinals
During the semifinal French Open match between No. 8 Casper Ruud and No. 20 Marin Čilić on Friday, a fan made her way onto the court and secured herself to the net, pausing play.
The woman appeared to have glued her hand to the net, while also locking herself to the net by using a neck string.
It took security around 15 minutes to get her detached from the net. They carried her off of Court Philippe-Chatrier. Ruud and Čilić were also escorted off the court into the locker room until security made sure the court was safe again.
The Tennis Channel broadcast did not shed light on the protester, although some fans were able to capture footage of what occurred.
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The women wore a shirt saying “We have 1028 days left.” The shirt represents a climate change activism group in France called “Dernière Rénovation.” The project began on March 28 of this year, and its hope is to better the climate in the next three to four years.
This incident is similar to the protesters who appeared at various Timberwolves games in the NBA playoffs this year. One fan glued herself to the court, while another chained herself to the basket.
The match was in the middle of the third set when play halted, as Ruud led the set 4–1. Čilić won the first set 6–3, while Ruud won the second set 6–4. Because the pause was 15+ minutes total, the competitors were allowed a short warmup before resuming play.
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