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Title:
The Economic Impact of Successful Business People

Authors:
Krishiv Jaiswal

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Krishiv Jaiswal
The Doon School

MLA 8
Jaiswal, Krishiv. "The Economic Impact of Successful Business People." Int. j. of Social Science and Economic Research, vol. 9, no. 9, Sept. 2024, pp. 4001-4016, doi.org/10.46609/IJSSER.2024.v09i09.049. Accessed Sept. 2024.
APA 6
Jaiswal, K. (2024, September). The Economic Impact of Successful Business People. Int. j. of Social Science and Economic Research, 9(9), 4001-4016. Retrieved from https://doi.org/10.46609/IJSSER.2024.v09i09.049
Chicago
Jaiswal, Krishiv. "The Economic Impact of Successful Business People." Int. j. of Social Science and Economic Research 9, no. 9 (September 2024), 4001-4016. Accessed September, 2024. https://doi.org/10.46609/IJSSER.2024.v09i09.049.

References

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ABSTRACT:
This research aims to identify more specified key economic contributions of successful businesspeople in terms of gross domestic product, employment opportunities, and productive efficiencies in different sectors and territories. The notable figures include Jeff Bezos (Amazon), Elon Musk (Tesla), Mukesh Ambani (Reliance Industries), and Warren Buffet (Berkshire Hathaway) to identify the impact of their companies on the global economy and technologies. Such businessmen have contributed to the development of the contemporary economy by implementing new business models, driving the digital economy, and promoting innovative business solutions in industries like telecommunications, e-commerce, electric vehicles, clean energy, and finance. The research employs secondary research methodology and amasses data from various sources, such as company reports, economic journals, and other economic-related news. Using the approach of thematic analysis, the paper reveals the significant impact that these leaders make on national and global economies. The findings highlight the following: Amazon’s gross regional product contribution stood at $469.8 billion in 2021 to the United States economy. Reliance on industries produced $118.6 billion in India in 2023, while Tesla and Berkshire Hathaway added $96.8 billion and $276 billion to the U.S. economy, respectively. The study takes note of the fact that such business leaders have not only improved such economic benchmarks as GDP and employment but have also spearheaded technological change in the economy across various industries. Considering these observations, the study recommends the following strategies for preparing for the future economy: encouraging entrepreneurship, advancing technology, and training the workforce. In conclusion, successful business personalities have offered significant contributions to the modern economic development of nations and the global economy by catalyzing growth and innovation of industries and economies for the betterment of human society.

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