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The inventor of 5-Hour Energy drinks is investing 99% of his fortune to fix the world

For legions of truck drivers, employees chasing deadlines, and students burning the midnight oil, Manoj Bhargava’s best-selling invention, 5-hour ENERGY drink, has already been a lifesaver.

Since launching the caffeine-based power-drink in 2004, Bhargava, 62, has quietly amassed a $4 billion fortune. (Not to mention some scrutiny last year in light of controversy over the marketing of the drink.) But it’s not all about the profits: A former monk, Bhargava dabbled in a variety of odd jobs early in his career—taxi driver, construction worker, printing press operator, business manager—and seems to have gained extra empathy for the plight of the working poor.

In a new self-produced film called Billions in Change, released Oct. 5, Bharvaga has pledged to give away 99% of his fortune to charity.

A huge stake of that wealth will go into a design and engineering laboratory called Stage 2 Innovations. Housed in a building within his 25-acre corporate campus in Farmington Hills, Michigan, the “tinkerer’s workshop,” as he calls it, has a singular mission: to create technologies that provide a livelihood boost for people in the developing world.

To change the world, what you have to do is invent more stuff, says Bhargava in his film.

“I think most people in the United States forgot that [inventors and engineers] brought us to where we are,” he later reflected during an interview with the Huffington Post. “The wealth that has been created over the last 120 years came from guys who actually built stuff.”

“We just concentrate on things that can be incredibly useful,” explained Bharvaga. “If you come up with something cool that’s not, we don’t do it. I have no interest. I don’t want to be cool…Actually, I’m never going to be cool.”

Cool or not, some of Stage 2’s projects are impressively ambitious—setting their sights on ending the planet’s energy and clean water resource crisis.

Among Stage 2’s inventions is Free Electric, a bicycle-powered machine that can convert human mechanical energy to electricity. One hour of pedaling is transformed to 24 hours of electricity for off-grid areas of the world—enough to recharge a cellphone, light up a house or power an electric kettle—all without waste or utility bills. Next year, Bhargava plans to ship 10,000 of these free bikes to India, with initial pilot testing planned in the northern state of Uttarakhand before the nationwide roll-out.

Bharvaga is also investing heavily to develop graphene cables that might one day conduct heat from the core of the earth directly to the surface. Heat, after all, is energy, and could potentially end the need for oil rigs and nuclear energy plants. If he’s successful, Bhargava could provide a sustainable, round-the-clock energy solution long after the buzz of caffeine wears off.

Sours: https://qz.com/546089/the-inventor-of-5-hour-energy-drinks-is-investing-99-of-his-fortune-to-fix-the-world/

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the 2021 china international service trade fair (service trade fair) will be held in beijing from september 2nd to 7th. meanwhile, the global service trade summit will be held on september 2. president xi jinping will deliver a speech at the global service trade summit via video.

as one of the three major exhibition platforms for china's opening to the outside world, the service trade fair has become a leading event in the field of global service trade, and is a close link between china and the world. people from many countries and the media expressed that they look forward to the 2021 service trade fair that will continue to provide opportunities for all parties to deepen cooperation, build consensus, and promote global economic recovery in the post-epidemic era.

"service trade fair has become an important global platform"

this year, the service trade fair will host 5 summit forums, 193 forum meetings and promotion and negotiation activities, as well as 8 side events. more than 10,000 companies from 153 countries and regions have registered to participate in the exhibition, and the world's top 500 and industry-leading companies accounted for 18%, an increase of 9 percentage points from the previous time. the heads of exhibitors and enterprises said that the increase in the attractiveness of the service trade fair stems from china's open cooperation environment and broad development prospects.

tang zhimin, director of the china-asean studies center of the chia university school of management in thailand, said that this year's service trade fair will cover all major areas of service trade, build a platform and provide opportunities for international service trade cooperation, and will inject impetus into the development of global service trade.

"during the service trade fair in 2020, we participated in the winter sports special exhibition, and the response was very good." thomas tajuman, general manager of the czech ski brand alpine china market, said that many european brands have gained more cooperation opportunities through the service trade fair. . "as the beijing winter olympics approach, china's ice and snow sports market will usher in rapid growth. this is a good development opportunity for us."

zvi schiller, chairman of the israel robotics association, said that many professionals and investors are expected to participate in this service trade fair. china has a huge market and strong manufacturing capabilities, and the association is considering establishing a joint r&d center with china.

the panamanian "star" published an article that panama regards the service trade fair as an important boost to the global economic recovery in the post-epidemic era. mark garcia, senior regional consultant of lixin certified public accountants in panama business consulting company, believes that the trade in service is an excellent opportunity to promote cooperation between panama and china in the field of digital economy services. "the service trade fair can allow foreign investors to better understand china, as well as the service trade support and facilitation measures china provides, which will further enhance investors' confidence in long-term investment in china."

"china has become a major trading partner of many countries. the holding of the service trade fair not only conveys to the world china's confidence in opening up to the outside world, but also promotes trade exchanges between china and other economies and builds an important platform for exchanges and cooperation. "brazil business leaders organization china chairman everton monezi said.

wesley douglas, director of the african carbon exchange, is very pleased to see that this year's service trade will include carbon peaking and carbon neutrality as a key issue. “the service trade fair has become an important global platform, and this platform is helpful for solving global problems.” he said that china has provided an important reference for developing countries to practice green development, and african countries have a strong desire for green economic development. , there is an urgent need for related investment and technology introduction. africa and china have great potential for cooperation in these areas.

"digital technology brings hope to the future"

in his speech at the 2020 service trade conference global service trade summit, president xi jinping emphasized that it is necessary to comply with the development trend of digitalization, networking, and intelligence, and work together to eliminate the "digital divide" and promote the digitalization of service trade. the theme of this year's service trade fair is "digital opens up the future, service promotes development". visitors will experience various innovative service products and the latest technologies provided by domestic and foreign enterprises through the service trade fair. in particular, new services centered on the digital economy have received widespread attention from the international community.

yukio kajida, a professor at chuo university in japan, said that in the post-epidemic era, the importance of the digital economy has become more and more prominent. governments and enterprises of various countries are actively promoting the development of the digital economy, and china is at the forefront of this field. this year's service trade fair uses "digitalization" as a key word, which will help promote cooperation and exchanges between global companies in the new situation, and further contribute to global technological innovation, economic development and improvement of people's lives. trade in services will become an important force to promote the recovery of the world economy.

everton monezi said that china’s experience in promoting the application of electronic payment technology is worth learning from latin america. latin american countries are starting to revitalize their economies in order to achieve long-term sustainable development. the service trade fair provides a high-level platform for cooperation between latin america and china, allowing more high-quality latin american companies to enter the chinese market and contribute to the recovery of the world economy.

"digital technology brings hope to the future." susanna gutkovska, acting chief representative of the beijing office of the polish national tourism administration, said that this year's "cloud showroom" at the service trade fair provided them with the opportunity to contact and communicate with their chinese partners. an opportunity for chinese tourists to issue invitations. poland's primorsky province and warsaw tourism organization set up booths in the yunshang exhibition hall to attract visitors. the holding of the service trade fair will help the recovery of the global tourism industry.

karl fei, a professor at the business school of aalto university in finland, believes that china has accumulated a lot of experience in the development of the digital economy. for example, the government provides policy support for enterprises, revitalizes the domestic market for digital services, and supports and encourages innovative companies in this field. share and discuss these experiences with all parties at the service trade conference.

"it is of great significance to the recovery of the world economy"

according to data from the ministry of commerce of china, despite the impact of the epidemic, china's total service imports and exports in 2020 will still exceed rmb 4.5 trillion. in the first half of this year, the added value of china's service industry reached 29.6 trillion yuan, accounting for 55.7% of gdp, providing strong support for the high-quality development of service trade. international sources said that under the background of economic globalization, china's economy is open and inclusive, opening its doors to embrace companies from all over the world, and will contribute wisdom and strength to the deepening of global service trade and investment cooperation.

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as the guest country of this year's service and trade fair, ireland has not only set up exhibition areas for investment, food, health, education, etc., it will also show the unique charm of ireland through ethnic dance performances and movies. four institutions including the irish food board, the trade and technology board, the investment development board, and the tourism board will appear together on the stage of the service trade fair for the first time. fenbar cleary, vice president of the irish-china science and technology exchange association, said that china's total service trade imports may reach us$10 trillion in the next 15 years, which contains huge market opportunities.

mohamed farahart, director of the egyptian pyramid politics and strategic research center, said that the service and trade will build a sound framework for international cooperation, create a healthier business and investment environment, help establish a new operating structure and trade network, and promote service trade. , investment and capital flow.

lu yaoqun, director of the institute of governance and sustainable development of the national university of singapore business school, said that the service trade association is an excellent platform to promote the development of free trade and common prosperity between china, asia and the rest of the world. the service trade association once again confirmed china's long-term commitment to the idea of building a community with a shared future for mankind.

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  • ;">qiu weigong, chairman of the thai-china business council of thailand, said that trade can drive the development of various relations between the two countries. "china's national-level exhibition platforms such as the canton fair, the service trade fair, and the china international import expo will serve as a benchmark for trade, and the world economy will benefit from it."


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    tang zhimin said that open and inclusive service trade is also an important part of the regional comprehensive economic partnership agreement. china has used practical actions to create an open and inclusive environment for cooperation through the holding of service trade fairs and china international import expo. "under the current economic situation, china insists on expanding its opening up to the outside world and leading global cooperation. these measures are of great significance to the recovery of the world economy."

    hanat besek, president of the china association for the promotion of trade in kazakhstan, said that china’s opening to the outside world has evolved from the initial policy preferences to the current institutional opening, which not only benefits the chinese people, but also contributes to the economic development of neighboring countries. significant driving effect.

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    Mission Innovation is a global initiative catalysing a decade of action and investment in research, development and demonstration to make clean energy affordable, attractive and accessible for all. This will accelerate progress towards the Paris Agreement goals and pathways to net zero.

     


    OUR COLLABORATORS

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    The World Bank Group (WBG) is one of the largest providers of finance for renewable energy and energy efficiency projects in developing and middle-income countries. As per the  Letter of Intent announced at the fourth MI Ministerial, the WBG and MI plan to strengthen collaboration on clean energy innovation topics of mutual interest based on three pillars: Collaboration around specific innovation topics; Insights and analysis; and Communication. In particular, the WBG, together with MI and 28 other organizations, has established the  Energy Storage Partnership  (ESP) to help develop and adopt energy storage solutions tailored to the needs of developing countries.

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    The Global Covenant of Mayors for Climate and Energy (GCoM) is the largest global alliance for city climate leadership, uniting a global coalition of over 9,200 cities and local governments and the global and local city networks that support them. The cities and partners of GCoM share a long-term vision of supporting voluntary local action to combat climate change and moving towards a resilient and low-emission society. The GCoM alliance elevates city climate leadership and enables strategic and innovative partnerships to mobilize the resources that cities require to fully realize their ambition in the areas of research, data, finance, and communications.  GCoM’s Innovate4cities initiative identifies specific data, information and technology priorities and works with governments, academia, business, and other partners to drive investment in these areas. Led by a Board co-chaired by UN Secretary-General’s Special Envoy for Climate Action, Michael R. Bloomberg, and European Commission Vice President, Maroš Šefčovič, Vice-Chair Christiana Figueres, and 10 Mayors representing city network partners and each of 10 global regions, the coalition comprises cities across 6 continents and 132 countries, representing over 800 million people or more than 10% of the global population. Read more about GCoM’s collaboration with MI in the Letter of Intent signed at the fourth MI Ministerial.

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    The Breakthrough Energy Coalition (BEC) is an international group of investors, companies, funds and banks committed to accelerating the commercialization of new reliable and affordable energy technologies that can help tackle climate change. The BEC believes that forging deep partnerships between its members and governments will lead to more investments earlier, and more energy solutions for more people faster. The BEC was launched at COP 21 in 2015 alongside Mission Innovation (MI). At the One Planet Summit in December 2017, Bill Gates, on behalf of the BEC, announced a set of pilot partnerships with five MI members (Canada, United Kingdom, France, Mexico, and the European Commission), representing a new approach to public-private collaboration that aims to catalyze more investment in low-carbon technology companies and innovators. Find out more about MI’s private sector engagement work.

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    The World Economic Forum (WEF) is an international organization for public-private cooperation. Collaboration between the public and private sectors is an effective method for accelerating innovation. MI is collaborating with WEF to drive private sector involvement, public-private partnerships, and knowledge-sharing around public-private research and technology development. The collaboration increases the relevance and impact of the private sector on MI members’ clean energy RD&D investments, helping to unlock the technology breakthroughs in cost and performance needed to revolutionize energy systems throughout the world. Details of the collaboration between MI and the World Economic Forum can be found in the Letter of Collaboration signed at the second MI Ministerial.

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    The International Renewable Energy Agency (IRENA) is an intergovernmental organization that supports countries in their transition to a sustainable energy future and serves as the principal platform for international collaboration, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. IRENA and Mission Innovation agree to develop a process of collaboration, building on synergies in their respective areas of work. It is intended that this collaboration should strengthen global renewable energy innovation efforts and accelerate innovation through more effective policies and greater cross-border collaboration. Read more in the Letter of Intent on Collaboration signed at the third MI Ministerial. 

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    The International Energy Agency (IEA) is the leading provider of energy data, rigorous analysis, and real-world solutions for energy transitions around the world, and has promoted and helped guide energy innovation in a variety of ways over its 45-year history. In February 2019, the IEA launched a new web portal to serve as a global go-to resource for governments, companies and others parties seeking information about innovation across a full range of clean-energy technologies. The Innovation web portal includes global RD&D investment levels from public and private sources, detailed technology analysis, identification of innovation gaps, analysis by country, and innovation partnerships (such as the IEA’s Technology Collaboration Programmes, TCPs). Details of the enhanced collaboration between MI and the IEA can be found in the Letter of Intent signed at the third MI Ministerial.  

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    Manoj Bhargava

    Indian businessman and philanthropist

    Manoj Bhargava (born 1953) is an Indian American billionaire businessman and philanthropist. He is the founder and CEO of Innovations Ventures LLC (dba Living Essentials LLC), the company known for producing the 5-hour Energy drink.[2][3] By 2012 the brand had grown to do an estimated $1 billion in sales.[4] In 2015, Bhargava pledged 99% of his net worth to improving the well-being of the world's less fortunate.[5]

    Early life and education[edit]

    Bhargava was born in Lucknow, India in 1953,[1][6] and in 1967, moved with his family to Philadelphia, Pennsylvania, United States.[7][8] Bhargava's father attended the Wharton School of Business in pursuit of a doctorate degree.[1][6] Bhargava won a math scholarship to an "elite private academy" called The Hill School, and after high school graduation attended Princeton University for one year in 1972.[6][7][9]

    Career[edit]

    After college, Bhargava returned to India and spent the next 12 years traveling to and from monasteries owned by the Hanslok Ashram.[7][8] During this period, Bhargava moved back and forth between the US and India and worked a variety of middle-class office and construction jobs.[10]

    Bhargava returned to the US and joined his parents' plastic injection manufacturing company Bhar Incorporated located in New Haven, Indiana. In 1990 he purchased a company that produced parts for outdoor furniture.[9] He sold Prime PVC Inc. in 2006.[9][11] A subsequent company, Chemicalpartners.com, specialized in inventions and new ideas for business.[9]

    Bhargava created Innovations Ventures LLC (dba Living Essentials LLC),[9] and launched 5-hour Energy in 2003.[1] By 2012, retail sales had grown to an estimated $1 billion.[1] Over time, Bhargava created additional entities or funds to support a variety of new ventures.[9] These included the capital venture company MicroDose Life Sciences,[12] a manufacturing venture laboratory called Stage 2 Innovations LLC,[13] a private equity fund called ETC Capital LLC, Plymouth Real Estate Holdings LLC[9][10] and Oakland Energy and Water Ventures.[14] In 2014, he financed a New York City-based film distribution company, Bleecker Street.[15]

    Bhargava was interviewed on the ABC News show Nightline in September 2012.[16] That year, an article in Forbes magazine said Bhargava and his company, Innovations Ventures, had participated in up to 90 court cases[17] against competitors, suppliers[6] and associates[9] since 2003.[18] As of 2012, fourteen of those cases had been settled or dismissed.[18]

    In 2013, Forbes reported Bhargava's net worth to be $1.5 billion, but he was dropped from its list of billionaires in 2014.[7] Bhargava's 2015 documentary, Billions in Change, reports he has a net worth of over $4 billion,[19] while some news articles report the $4 billion figure to be unverified.[13][20]

    Bhargava is a member of the Giving Pledge campaign.[21] In 2015, he pledged to give 99% of his wealth to philanthropic causes.[19] His foundations include the Hans Foundation[1][22] and Rural India Supporting Trust.[23] In 2016, Bhargava told National Geographic that he planned to distribute 10,000 of his stationary, power generating bikes to rural homes and villages in India.[13]

    Personal life[edit]

    Bhargava is married, with one child, and lives in Farmington Hills, Michigan, US.[7]

    References[edit]

    1. ^ abcdef"Manoj Bhargava, richest Indian in US commits 90% earnings to charity". The Economic Times. 10 April 2012.
    2. ^"Manoj Bhargava, Founder and CEO, Innovation Ventures LLC and Living Essentials LLC". Smart Business. 1 July 2012. Retrieved 24 January 2016.
    3. ^Duggan, Daniel; Walsh, Dustin (29 May 2011). "Energy Drink King Behind $100m Fund: Bhargava Sets Up Tech Park For New Firms". Crain's Detroit Business. Retrieved 24 January 2016.
    4. ^O'Connor, Clare (8 February 2012). "The Mystery Monk Making Billions With 5-Hour Energy". Forbes.
    5. ^Ilan Mochari (15 October 2015). "Inside the Mind of the Billionaire Who Built the 5-Hour Energy Empire". Inc. Retrieved 24 January 2016.
    6. ^ abcdMurphy, Eamon (9 February 2012). "5-Hour Energy: A Success Equal Parts Caffeine, Chemistry and Meditation". DailyFinance.
    7. ^ abcde"Profile". Forbes.
    8. ^ abStaff writer (11 October 2015). "Dropout, Monk and billionaire". Sunday Times of India.
    9. ^ abcdefghDuggan, Daniel (19 February 2012). "Wizard of odds". Crains Detroit.
    10. ^ ab"Newsmakers of the Year 2011". Crains Detroit Business. 1 January 2012.
    11. ^Frank Esposito (4 June 2007). "Spell purchases Prime PVC". Plastics News.
    12. ^Gormley, Brian (19 May 2010). "With Tempting Idea For Start-Ups, MicroDose Makes First Two Deals". Wall Street Journal.
    13. ^ abcKoch, Wendy. "Creator of 5-hour Energy Wants to Power the World's Homes—With Bikes" (Oct 6, 2015). National Geographic. Retrieved 22 November 2015.
    14. ^Tom Henderson (4 March 2014). "Bhargava Funds Company to Invest in Water, Energy Deals". Crain's Detroit Business. Retrieved 24 January 2016.
    15. ^Cheney, Alexandra (13 August 2014). "Ex-Focus Features Chief Launches Distribution Company". Variety. Retrieved 11 April 2016.
    16. ^Johnson, Eric. "5-Hour Energy Inventor Likes 'Toiling in Obscurity'". ABC. Retrieved 11 September 2012.
    17. ^O'Connor, Clare (8 February 2012). "The Mystery Monk Making Billions With 5-Hour Energy". Forbes.
    18. ^ abBen Wieder (26 March 2015). "The political kingmaker nobody knows". Center for Public Integrity.
    19. ^ abIlan, Mochari (15 October 2015). "Inside the Mind of the Billionaire Who Built the 5-Hour Energy Empire". Inc Magazine. Retrieved 22 November 2015.
    20. ^Kumar, Bhaswar (22 October 2015). "Manoj Bhargava's crusade: From energy drinks to limitless energy". Business Standard. Retrieved 22 November 2015.
    21. ^"Current Pledgers". The Giving Pledge. Retrieved 29 July 2015.
    22. ^Saumya Bhattacharya (11 November 2014). "Philanthropists in the world not thinking through what people need: Manoj Bhargava". The Economic Times.
    23. ^"Manoj Bhargava". Glasspockets. Retrieved 7 April 2015.

    External links[edit]

    Sours: https://en.wikipedia.org/wiki/Manoj_Bhargava
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