After
the U.S. market closed on Tuesday, the value of Apple topped $500 billion amid
reports the iPad 3 launch is imminent. The company is now worth more in dollar
terms than most countries’ gross domestic product and joins a very exclusive
club of companies that have been valued, at some point, at more than half a
trillion dollars.
As traders from Shanghai to New York debate
whether the Apple rally has legs 2,000 members of another exclusive club are
meeting in Singapore and could find themselves talking to the next Steve Jobs
or Mark Zuckerberg.
The Young Presidents Organization (YPO) is an
alliance of 19,000 entrepreneurs, business leaders and CEOs whose companies’
combined annual revenue of $6 trillion far outweighs Apple’s $108 billion last
year. Together these 19,000 entrepreneurs employ 16 million people in 110
countries across the world.
At the YPO's annual meeting at Singapore's
Marina Bay Sands Hotel you can look out of the window and see thousands of
ships entering the City State’s world famous port but inside the meeting the
wheels of global trade are being oiled by people who could very well be the
next big thing.
To qualify as a member of the YPO you need to
run a company that makes more than $8 million a year and employs 50 people who
are collectively paid more than a million dollars a year. Once in, its members
believe you get access to a trusted network across the world, who will help you
drive your business and investments.
Michele Raucci, is the chairman of a private
equity group Sixiang Holdings which invests in assets across Europe and says
the YPO gives him “a touch of reality" from the real economy. Raucci said
the network allows him to meet other entrepreneurs and discuss issues and ideas
that often directly influence his investment decisions.
"Everyone I meet in Asia is very negative
on Europe at the moment but I am seeing value in countries like Germany, Italy
and the U.K.," Raucci said in an interview with CNBC.com on Wednesday.
He added that he was on the lookout for small
and medium sized firms where the current management have lost the confidence
needed to take the business forward. By discussing how those on the front line
of the global economy view the world Raucci believes he can find value.
Pascal Gerken, the CEO of investment group
Gerken, which has interests in building materials in South East Asia, is
looking to invest in hospitality and travel related assets. Having played a
role in creating a new YPO chapter in Myanmar, Gerken says he knows the value
of being able to find people you can trust.
"The trust in other YPO members is
unique, it allows me to increase my comfort when making investments" said
Gerken in an interview with CNBC.com.
YPO's code of conduct is very important to
Gerken. Relationships that could take 6 or 7 years to build normally can be
built in 15 to 20 minutes, according to him. Gerken says he also finds new
partners and investments through his YPO membership.
Richard G Philips used to be a lawyer working
in Washington and now runs his family business, Pilot Freight Services, a
global logistics firm with operations in North America and Western Europe.
The firm ships everything from TVs to high-end
healthcare machines for the likes of GE, says Philips. According to him, he
rarely uses the YPO to generate leads or find customers, instead he says it’s
more about learning from other business leaders.
"The YPO offers me access to business
leaders who I can share ideas with. In front of my staff I need to be
confident, not show I am uncertain. But with other YPO members, with (whom) I
can talk in absolute confidentiality and get advice, which is both thoughtful
and helpful."
Having just set up operations in Toronto,
Mexico City and Mumbai, Phillips said other YPO members in these cities offered
him advice, which he could use. "They know the market and the problems you
will face in places that you have no experience of dealing with."
"There is a rule that if any member
emails or calls you, you have to get back to them in 24 hours" said
Phillips who also highlighted another fringe benefit. "You never pay for a
drink when visiting a member."
Patrick Allen
CNBC.com
Business & Investment Opportunities
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