CFO Insider is a weekly newsletter from Business Insider that delivers the top news and commentary for chief financial officers and other finance experts.
Top finance executives reveal how they invest their own money (Deloitte)
Deloitte’s Q4 CFO Signals Survey breaks down the personal investment strategies of North American CFOs. Increasingly, finance chiefs prefer stocks, bonds, and real estate, and they are investing less in cash, emerging markets, and commodities. Nearly all CFOs hold a significant stake in their own company, and on average, about 30% of their wealth is tied up in that company’s stock.
Ride-hailing giant Uber — which is reportedly valued at more than $62.5 billion, has its own China branch, and has an elaborate tax structure that spans multiple subsidiaries from the Bahamas to the Netherlands — still doesn’t have a C-level exec leading its finances. The last big financial hire it made was ex-Microsoft and Google employee Brent Callinicos, who left Uber in early 2015. Why is one of the hottest CFO jobs on the market sitting unfilled? One theory: Uber might be timing itself for an IPO.
The CFA Level 1 results are in (Business Insider)
In December, 52,315 aspiring finance buffs — more than ever before — took the first level of the notoriously tough Chartered Financial Analyst exam. Only 43% of them passed, in line with historical pass rates for Level I of the three-part exam. Becoming a CFA charter holder is a huge leg up for anyone hoping to build a career in investment management, and it’s a much cheaper credential than an MBA degree.
After 23 years at top accounting firm EY, Beth Schiavo decided to leave for a CFO role at management consultancy North Highland, according to a recent profile on CFO.com. It required deep introspection. “Everyone gets to a certain stage of their career where they should try to understand themselves better than they did in their 20s,” she told the publication. Schiavo realised that while she had an interest in auditing, her heart was in operations and helping to run the business.
The 50 richest people on earth (Business Insider)
Business Insider partnered with Wealth-X for its ranking of the world’s 50 richest people. Unsurprisingly, Bill Gates took first place, with a net worth of $87.4 billion. Facebook’s 31-year-old CEO, Mark Zuckerberg, also snuck into the top 10, with a net worth of $42.8 billion thanks to the social network’s rising value. To crack this ranking, you’d need to have a net worth of at least $14.3 billion — that’s how much Aliko Dangote, the richest man in Africa, is worth.
Business Insider Emails & Alerts
Site highlights each day to your inbox.