Billionaires Making ‘Boatloads Of Money’ From Once-Cheap Medical Gloves | Glusea.com
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Billionaires Making ‘Boatloads Of Money’ From Once-Cheap Medical Gloves

Nitrile gloves

In the first months of the Covid-19 pandemic, doomsday headlines warned of impending shortages of ventilators for severely ill patients. Then states scrambled to source masks and gowns as borders quickly shut, igniting a bidding war for personal protective equipment. Eventually, domestic production kicked in to save the day, churning out everything from respirators to face shields. But one item in particular is still in critical shortage as the pandemic lurches into its second year: medical gloves.

Nitrile gloves, preferred by hospitals for their hypoallergenic and chemical-resistant properties, are now increasingly expensive and difficult to source at any price. In the U.S., the national stockpile reported in December that there were only 72 million gloves on hand out of a target of 4.5 billion, forcing individual states to navigate a wild market rife with shadowy middlemen and black-market brokers, some outright frauds. The surging demand has sent prices skyrocketing: A box of 100 nitrile gloves now costs as much as $32, up from around $3 prepandemic, according to Singapore-based Persistence Market Research. The frenzy has minted at least four new medical glove billionaires and centimillionaires: Stanley Thai ($1.5 billion, Malaysia), Lim Kuang Sia ($1.2 billion, Malaysia)*, Somwang Sincharoenkul ($730 million, Thailand) and Wieslaw Zyznowski ($670 million, Poland).

“At this point there isn’t even a pretense of passing this on because costs are going up,” says Bruce Levitt, the CEO of Levitt-Safety, a Canadian safety equipment supplier that distributes gloves in North America. “It’s just a matter that the gloves’ manufacturers have said, ‘This is our opportunity to make boatloads of money.’”

According to U.S. importer AmerCareRoyal and market analysts, the global demand for gloves nearly doubled in a matter of months from 300 billion pieces in 2019 to 585 billion in August 2020. But glove makers can only produce 370 billion a year—and while new capacity installed in 2021 will add about 50 billion more, that still leaves a shortfall of 165 billion gloves as the pandemic rages.

Benefiting the most are the Malaysian glove producers who together control nearly 60% of the North American market. Top Glove, the world’s largest maker of gloves, posted record revenues of $1.8 billion in 2020, up 51% from a year earlier, more than tripling the net worth of its billionaire founder Lim Wee Chai to $4.1 billion. The mania has also generated new fortunes in unlikely places: In Poland, Wieslaw Zyznowski, a 56-year-old, mild-mannered philosophy Ph.D., is now worth $670 million. Shares in his Warsaw-listed glove manufacturer Mercator Medical, which makes its gloves in Thailand, are up 3,300% since January 2020.

n a video call from his home in Wieliczka, a historic town with cobblestone streets in southern Poland, Zyznowski seems as surprised as anyone else at his newfound wealth. He and his brother Piotr set up a business that sold paper and printing machines in 1989 and they kept adding products as needed by the nascent Polish free market. Wieslaw took over the medical distribution business Mercator Medical in 2001, which primarily supplied gloves. He then took the unorthodox step of embarking on a nine-year leave of absence from day-to-day operations to pursue a doctorate in philosophy.

Despite his studies, Zyznowski still held sway at the company: In 2006, he convinced the board to get into the manufacturing business and buy a small glove maker in Thailand. Back at the helm in 2010, he decided to double down on the glove maker that Mercator had purchased in 2006. He eventually moved to Thailand for more than a year to supervise the construction of a new nitrile glove factory.

“Malaysia is much more established, but because of the pandemic, Thailand has a booming glove industry and new companies are entering the market,” he says.

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Melinda French Gates Now A Billionaire After Stock Transfer From Bill Gates

Melinda French Gates

According to reports from Forbes, Melinda Gates is now officially a billionaire. After the two announced their decision to end their 27-year-old marriage.

Bill’s investment vehicle, Cascade Investment, transferred $1.8 billion in securities to Melinda on Monday, May 3, the same day the pair announced their surprise divorce, according to SEC filings. That makes Melinda worth at least $1.8 billion, while the stock transfer puts a slight dent in Bill’s net worth, which fell to an estimated $128.6 billion, from $130.4 billion. Even after the ten-figure transfer, the Microsoft cofounder remains the fourth-richest person in the world. 

Melinda received 2.94 million shares of AutoNation and 14.1 million shares of Canadian National Railway Co., which are worth $309 million and $1.5 billion, respectively. (Bloomberg News first reported the transfer.) Bill uses Cascade Investment, a holding company based in Kirkland, Washington, to manage his money, including the proceeds from selling Microsoft shares. Bill at one point owned a significant slice of Microsoft, but has given away (to the Gates Foundation) or sold most of his stake over the years and now holds less than 1%.

The stock transfer is almost certainly part of Bill and Melinda’s divorce settlement. While it’s unclear if they signed a prenup, according to their divorce filing Bill and Melinda asked a judge in Washington State to divide their assets based on the terms of a separation contract—a document that is typically signed when spouses are living apart but have not yet divorced. The terms of the contract weren’t disclosed. Bill may have also transferred other assets to Melinda in nonpublic transactions. 

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NET WORTH

Rob Holding Net Worth

Rob Holding net worth
Full nameRobert Samuel Holding
Net worth1.8 Million Euro
Date of Birth20 September 1995
Place of BirthStalybridge, Manchester,
NationalityEnglish
OccupationProfessional footballer
Current teamArsenal

What is Rob Holding Net Worth?

Rob Holding Net Worth: Robert Samuel Holding is an English professional footballer who plays as a centre back for Premier League club Arsenal. Rob Holding net worth is 1.8 Million Euro.

Early life

Holding was born and raised in Stalybridge, Greater Manchester. He attended West Hill School in the town.

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Holding played for Stalybridge Celtic Juniors before joining the Bolton Wanderers youth system at the age of seven. He joined League Two club Bury on loan on 26 March 2015 for rest of the 2014–15 season.

Holding signed for Premier League club Arsenal on 22 July 2016 for a fee of around £2 million.  Following injuries to centre backs Per Mertesacker and Gabriel Paulista, he was called upon to make his Arsenal debut in the 2016–17 Premier League season opener on 14 August 2016 against Liverpool, which Arsenal lost 4–3 at home.

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In the final two months of the season, Holding became a regular member of Arsenal’s starting line-up, with the team winning all six of the matches he played in the Premier League.

 He played the full 90 minutes in Arsenal’s 2–1 victory over Chelsea on 27 May in the 2017 FA Cup Final at Wembley Stadium.

Holding played in the 2017 FA Community Shield on 6 August which Arsenal won 4–1 penalty shoot-out to Chelsea after a 1–1 extra-time draw.

 He scored his first Arsenal goal on 28 September 2017 with a close-range shot in their 4–2 away win over BATE Borisov in the UEFA Europa League. He signed a new long-term contract with the club on 1 May 2018.

International career

Holding was called up to the England under-21 squad for the Toulon Tournament May 2016 as a replacement for Everton defender Brendan Galloway.

 He made his debut for Gareth Southgate’s team when starting against Guinea on 23 May. England won the tournament with Holding making two appearances, and was an unused substitute in the final on 29 May as England beat France 2–1.

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 He was selected for England’s squad for the 2017 UEFA European Under-21 Championship in Poland, but did not make an appearance with England eliminated in the semi-final. Holding made five appearances for the under-21s from 2016 to 2017.

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Revealed: How a CEO Went from Making $50k a Week to $50 k a Year

Ronni Kahn

For most investors, their dream is to make a lot of money from their business before thinking about what to do with the excess. This was no the case with Australian CEO Ronni Kahn. She left her lucrative business that was paying her $50k a week to managing a charity that would pay her $50 k a year.

Before Ronni Kahn became the CEO of global food charity, OzHarvest, she owned an event management business – a role that would see her bring in around $50,000 a weekend.

Then, in 2009, she won Vodafone’s World of Difference award, which requires the recipient to work solely on a charity of their choice – in exchange for a salary of $50,000.

Having founded OzHarvest in 2003 and worked simultaneously on the charity and her business, she had to choose between a lucrative business, or a start-up charity.

“I decided it was time to dive without a parachute,” she revealed to The New Investors host, Sarah O’Carroll.

“I left a business that sometimes could have made $50,000 on a single weekend – but it was the best thing I ever did.”

Who is Ronni Kahn?

Ronni Kahn AO is an Australian social entrepreneur, best known for founding the food rescue charity OzHarvest.

Born in South Africa, Kahn moved to Israel where she lived on a kibbutz for many years before emigrating to Australia in 1998 and starting an events management business. On a vacation to South Africa, she was galvanised into action by a friend when visiting Soweto who told her that “she was responsible for electricity in Soweto”.

Read How Covid 19 has made Billionaires

Kahn recalls that was the moment her life of purpose began. I knew I had to come back and do something meaningful for other people…”Building on her experience in corporate hospitality, she was shocked by the amount of food waste, although not initially aware of the relationship between food waste and environmental problems.

Read Entrepreneur Changing the Game of Geriatrics

A Repurposed Life

Kahn’s memoir A Repurposed Life was released in 2020. Kahn said: “I didn’t grow up being ambitious about anything, but when you find your calling, then you are empowered by a force that is unstoppable.”

Awards

Ronni Kahn has been acknowledged as a leader in the fields of entrepreneurship, social impact and innovation. Her contributions have been widely recognised through numerous awards including:

  • 2010 Australia’s Local Hero, Australian of the Year Awards, in recognition of her work founding OzHarvest.
  • 2010 Enriched List, American Express
  • 2011 InStyle Woman of Style Award – Community /Charity category
  • 2012 Veuve Clicquot Award Business Woman Tribute Award for Innovation, Entrepreneurial Skill and Contribution to the Community
  • 2012 Ernst & Young Social Entrepreneur of the Year
  • 2017 BOSS magazine Top 21 True Leaders
  • 2017 Gourmet Traveller Outstanding Contribution to Hospitality
  • 2017 Griffith University Doctor of the University (honoris causa)
  • 2018 The Australian Financial Review 100 Women of Influence award for social enterprise and not-for-profit
  • 2019 Officer of the Order of Australia (AO). For distinguished service to social welfare, particularly through the development and delivery of innovative programs.
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