• The 2020-21 NFL playoffs are in full swing, but figuring out how to watch your favorite teams without cable can be difficult.
• Broadcast rights are spread across several networks, including ESPN, NBC, Fox, CBS, and the NFL Network.
• HD antennas and streaming services all offer select NFL games without the need for a cable subscription.
• Fubo TV or YouTube TV with the NFL RedZone add-on and an NFL Sunday Ticket plan will enable you to watch the most games all season long.

Whether you're interested in watching Tom Brady whip the pigskin in his new Florida digs, checking out how professional football looks in Las Vegas, or you happen to be a fool like me still holding out hopes that the Detroit Lions can win a Super Bowl (cue the uproarious and hurtful laughter), you can use at least one of the methods outlined below to watch the 2020 NFL season.

With that said, the right NFL streaming option for you will vary depending on your fandom priorities. Basically, the games are spread across five primary networks: ESPN, NBC, Fox, CBS, and the NFL Network. Your location also determines which games get aired on your local stations. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.

To help ensure you get access to all the games you'd like to watch, we've broken down the ins and outs of watching the NFL without a cable subscription.

Updated on 1/15/2021 by Danny Bakst: Added details about key games to watch during the NFL 2020-21 playoffs.

How to watch NFL games without cable

You can access many of these channels without a cable subscription via several streaming services, like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, CBS All Access, and NFL Sunday Ticket. Additionally, some services offer NFL RedZone as an add-on for fans who want to watch all the best action from across the league simultaneously rather than sit through one game. If you want to watch games on your local stations without cable, you can also opt for an HDTV antenna.

The 2020-21 NFL season began on September 10 with a Thursday night game between the Houston Texans and Kansas City Chiefs on NBC. Subsequent games are being spread across different channels, and there are several options available to stream each network.

Sunday afternoon games with an NFC home team are being aired on Fox, and Sunday afternoon games with an AFC home team are shown on CBS. Meanwhile, Sunday Night Football airs on NBC, and regular Thursday Night Football is broadcast on NFL Network all season long. Thursday Night Football will also be shown on Fox and streamed via Amazon Prime or Twitch starting week five through the end of the season. Finally, Monday Night Football is on ESPN. 

Depending on the service, you can stream through smart TVs, game consoles, and streaming devices, like Apple TV, Roku, and Amazon Fire TV. Some platforms can also be streamed on-the-go via smartphones, laptops, and tablets. 

How to watch the NFL Divisional Round playoff games

After an exciting weekend of Wildcard action, it's time for another round of playoff games. Even though we're only getting two games a day in the Divisional Round versus the three we got in the Wildcard round, fans will now get to see the first seed teams from each conference take the field.

This means that the two front-runners for MVP, Aaron Rodgers and Patrick Mahomes, will each have the opportunity to push their team to the conference championships. Plus, we're going to get the NFL's version of the Senior Bowl, but instead of collegiate seniors, we're getting a matchup between two veteran quarterbacks when Tom Brady (43) and the Buccaneers play against Drew Brees (42) and the Saints.

Here's how you can watch each game:

• Los Angeles Rams at the Green Bay Packers: Saturday at 4:35  p.m. ET on Fox
• Baltimore Ravens at the Buffalo Bills: Saturday at 8:15 p.m. ET on NBC
• Cleveland Browns at the Kansas City Chiefs: Sunday at 3:05 p.m. ET on CBS
• Tampa Bay Buccaneers at the New Orleans Saints: Sunday at 6:40 p.m. ET on Fox

Here's a full roundup of all the services you can use to stream NFL games without cable.

HDTV Antenna

You can purchase an antenna, like this 1 By One model, to add to your TV for about $24, giving you access to local channels within a certain distance. 

What you get:

Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.

This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network.

Sling TV

If you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.

There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $30 per month, while the combined Sling Orange + Blue plan costs $45 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $10 per month.

What you get:

Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. 

Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $60 per month.

If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.

With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. 

Hulu with Live TV

In addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $54.99 per month. However, like Sling TV, there's no option to add the NFL Network or NFL RedZone as a channel, which could be a deal-breaker if you're hoping to watch and monitor action across the league.

What you get: 

Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and some of the best NFL coverage and analysis on TV. 

While you don't get access to watch out-of-network games from across the country like you do with NFL RedZone or NFL Sunday Ticket, this is a comprehensive way to tune into most locally and nationally televised games. Hulu does not offer a way to watch the first three regular Thursday Night Football games, however, since those will be aired on NFL Network. 

FuboTV

At $64.99 per month for the Family Plan, FuboTV is one of the most comprehensive yet expensive live streaming options for NFL football. You can also spend an extra $10.99 per month to add the Sports Plus with NFL RedZone package or sign up for the Ultra Plan, which includes NFL Redzone and several other extra channels, for $84.99 per month.

What you get:

In terms of NFL games, the Family Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). FuboTV's Family Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long. 

YouTube TV

With a base price of $64.99 per month, YouTube TV is another service that offers access to most NFL games. Additionally, the service just announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $10.99 per month. 

What you get:

Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $10.99 per month.

NFL Sunday Ticket

NFL Sunday Ticket used to only be available with a cable subscription, but NFL fans in non-DirecTV markets anywhere in the country can now gain access to every Sunday afternoon game.

There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $99 per month for four months, adding up to $396 total.

What you get:

Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.

In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football. 

CBS All Access

If you're just interested in watching locally televised AFC home games, then a CBS All Access subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. CBS All Access is available for $5.99 a month with commercials or $9.99 a month with ad-free streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.

What you get:

CBS All Access offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since CBS All Access only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.

Amazon Prime Video

Though yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $8.99 a month, and the service is included as part of an Amazon Prime subscription for $119 per year.

What you get:

Amazon Prime Video will stream 11 Thursday Night Football games staring the week of October 8. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for very casual football fans who just want to stream a few games this season. 

Yahoo Sports app and NFL app

If you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. 

What you get:

These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet.

Venture capitalists still look to be bullish on Europe's fintech companies heading into 2021.

The sector continued its run as being by far the biggest in the bloc for VC investment, netting $9.3 billion in fresh capital in 2020, according to annualized data from Dealroom/Atomico. 

And the breadth of fast-growing venture-backed startups in fintech has grown.

For example, as we asked some of Europe's top investors for their fintech picks this year, as we did in 2020, none chose buzzy challenger banks. Instead, they focused on areas such as decentralized finance, lending, cryptocurrencies, and access to capital markets for 2021. 

We asked investors to pick one company in their portfolio and one non-portfolio company for this year's list. Respondents include funds like SpeedInvest, Passion Capital, Seedcamp, Balderton Capital and LocalGlobe/Latitude, who rank among the most active fintech investors on the continent. 

In no particular order, here are the 19 hottest fintech startups in Europe this year:

SEE ALSO: Amazon-backed Deliveroo could be headed to a blockbuster IPO that values it above $13 billion in April

PrimaryBid

Cited by these VCs: Tara Reeves, partner at OMERS Ventures, Vinoth Jayakumar, partner at Draper Esprit, and Alokik Advani, managing partner at Fidelity International Strategic Investments. 

In the OMERS, Draper Esprit, FISV portfolio? Yes.

Total raised: $62 million

What it does: PrimaryBid helps improve access to public markets for retail investors by bundling orders.

Why it's hot in 2021:"PrimaryBid is allowing retail investors access to new equity issuance for public companies," Reeves said. "They have typically been shut out of the process, because it's been too hard for companies and investment banks to deal with thousands of small investors, even if they wanted to. Fair access is at the core of their mission, and having participated in the biggest tech IPO by volume in a decade on the LSE (Hut Group) and it's biggest accelerated book build (Compass Group) – and the rest! - it's fair to say that PrimaryBid has had a fantastic year."

Tickr

Cited by these VCs: Tara Reeves, partner at OMERS Ventures.

In the OMERS portfolio? No

Total raised: $3.1 million 

What it does: Tickr is an app that lets you invest in companies making a positive impact, and offset your carbon footprint.

Why it's hot in 2021:"Tickr is making it easy to invest ethically and in a climate conscious manner," Reeves said. "It benefits from two key trends: 1) young savers turning into investors and 2) the increasing importance of building financial products for people's financial decisions align with their values. Oh, and the user experience is gorgeous." 

Flagstone

Cited by these VCs: Leila Zegna, founding partner at Kindred Capital.

In the Kindred portfolio? Yes.

Total raised: $31 million

What it does: Flagstone helps individuals, SMEs, and charities manage their cash savings with one Flagstone account. The market is estimated at £1.4 trillion in the UK alone.

Why it's hot in 2021: "Flagstone's approach optimizes yield (which is currently sitting in an account making zero), and also reduces risk. On the other side of the platform, they help banks and building societies with a lower cost, strategic deposit origination channel," Zegna said.

"They are by far the market leader in the UK, with the largest supply base of over 45 banks on their panel (and growing), which gives them a competitive moat and provides the most competitive rates in the market."

Zego

Cited by these VCs: Leila Zegna, founding partner at Kindred Capital and Rana Yared, partner at Balderton Capital 

In the Kindred portfolio? No.

In the Balderton Capital portfolio? Yes

Total raised: $51.7 million

What it does: Zego provides flexible and on-demand insurance coverage to gig economy workers in segments such as ride-hailing, ride sharing, car rental, and scooter sharing.

Why it's hot in 2021:"There's never been a more important moment for companies to act quickly and effectively to meet their customers' dynamic needs," Zegna said. "That's where companies like Zego can come in and empower those organisations to grow not just exponentially, but also effectively, offering many crucial on-demand delivery customers (like Deliveroo, JustEat, Stuart) and others the ability to grow their delivery fleets and supply bases with the right insurance and coverage to service their growing end customer needs. With the right execution, this could be the year where Zego really takes off!"

"As a 'new mobility' insurance provider, Zego has always put cutting-edge technology and customer service at the heart of its business," Yared added. "The exceptional team has consistently delivered affordable, flexible insurance products to delivery drivers and small businesses, enabling them to work safely, even during the pandemic."

Upvest

Cited by these VCs: Vinoth Jayakumar, partner at Draper Esprit

In the Draper Esprit portfolio? No

Total raised: $16.6 million

What it does: Upvest, founded in 2017, provides a scalable API for other fintech startups to offer pan-European securities.

Why it's hot in 2021:"Upvest is building an API first defi (decentralized finance) company, allowing access to a blockchain-based platform for the alternative investments industry," Jayakumar said. "Their platform, which allows seamless tokenization of traditional asset classes such as real estate, could have the effect of dramatically reducing costs in the alternative investments world and therefore increasing access to a wider audience."

Elliptic

Cited by these VCs: Ed Lascelles, partner and head of technology investment, AlbionVC

In the AlbionVC portfolio? Yes.

Total raised: $40 million

What it does: Elliptic supports crypto operators and increasingly traditional financial institutions in meeting regulatory compliance obligations.

Why it's hot in 2021:"As cryptocurrencies hit all-time highs and continue to enter the mainstream, 2021 will be a transformational year for Elliptic," Lascelles said. "Regulation, a key enabler for institutional and widespread participation in the crypto ecosystem will further mature in 2021 with Elliptic playing a pivotal role."

"The company has built a world-class leadership team and is only just beginning its growth acceleration journey. As a force for good in the crypto ecosystem, Elliptic will continue to delight customers, existing and new in 2021 and beyond. "

Tink

Cited by these VCs: Ed Lascelles, partner and head of technology investment, AlbionVC

In the AlbionVC portfolio? No

Total raised: $308.4 million

What it does: Tink's APl allows more than 3,400 banks across Europe to share customers' payment account data—if users give consent—with third parties including fintechs to access and develop new products.

Why it's hot in 2021: "Open Banking has peeped up with headlines on several occasions over the last few years but at the surface level is still yet to really cut through. That said beneath the surface is where all the action is really happening. Geoffrey Moore, in his lesser-known book 'The Gorilla Game' set out that architectural control is the highest form of sustainable competitive advantage and value creation and Tink is laying the foundation for exactly that — architecture of THE European infrastructure for open information and payment provision," Lascelles said.

"We should admire Tink for that. With the dislocations caused by the COVID-19 pandemic the integration and provision of near real time financial information will become increasingly critical for consumers and services providers alike. The narratives of digital acceleration should continue to play out this year and 2021 should be a great year for Tink."

Access Fintech

Cited by these VCs: Mina Mutafchieva, senior principal at Dawn

In the Dawn portfolio? Yes.

Total raised: $37.5 million

What it does: AccessFintech's platform allows capital market participants to share cleansed and normalized trading data, so that any difficult or exceptional data can be noticed quickly and efficiently. 

Why it's hot in 2021:"AccessFintech has built a first-of-its-kind data-sharing network for capital markets, which is quickly becoming the market standard for exception resolution and post-trade collaboration," Mutafchieva said. "Their products enable customers to reduce both cost and risk, but also to solve their data reconciliation and tracking challenges — a critical focus area for banks, and reiterated by Goldman Sachs, J.P. Morgan, Credit Suisse, Citi and Deutsche Bank's direct investment in the platform."

Form3

Cited by these VCs: Mina Mutafchieva, senior principal at Dawn Capital

In the Dawn Capital portfolio? No

Total raised: $57.3 million

What it does: Form3 helps banks and regulated fintechs move money faster through its cloud payments architecture.

Why it's hot in 2021:"Cloud-native, API-led architecture is swiftly becoming foundational for best-in-class payments infrastructure," Mutafchieva said. "Form3's end-to-end payment-as-a-service platform is a compelling offering for banks and fintechs seeking to reduce the cost and complexity of maintaining legacy on-premise systems. They've attracted the backing of major UK banks, and, with an enormous market to address, they no doubt now have their sights set firmly on replicating this success across Europe."

Uncapped

Cited by these VCs: Reshma Sohoni, founding partner at Seedcamp.

In the Seedcamp portfolio? Yes.

Total raised: $38.9 million

What it does: Uncapped offers up to £1 million ($1.27 million) in funding to companies at a flat 6% fee.

Why it's hot in 2021:"Opportunities for founders to access capital may well be increasing but options that genuinely put the founders first and help them win can be few and far between," Sohoni said. "We love what Piotr, Asher and the team at Uncapped are building with their innovative new solution for European e-commerce founders looking to scale on their own terms. I think we'll continue to see a growth in alternative financing as founders become more demanding and have greater optionality."

Cleo

Cited by these VCs: Reshma Sohoni, founding partner at Seedcamp.

In the Seedcamp portfolio? No

Total raised: $57.3 million

What it does: Cleo is a financial assistant designed for Gen Z. 

Why it's hot in 2021:"The team has been on a really impressive journey and I think has done a great job of adapting to changing market dynamics and customer needs," Sohoni said. "Especially in today's economic climate, helping our younger people to save and get a greater hold over their own finances has never been more important."

Capdesk

Cited by these VCs: Alokik Advani, managing partner at Fidelity International Strategic Investments. 

In the FISV portfolio? No

Total raised: $7.6 million

What it does: Capdesk is an equity management platform which helps companies digitize their equity information such as shareholder/employee equity and their cap table. 

Why it's hot in 2021:"From our experience, startups struggle with the issuance of different classes of shares and ESOPs [employee stock ownership plans], valuations, and investor relations," Advani said. "The company's goal is to help startups to facilitate better incentive alignment, access wealth and reward employees better."

Bitpanda

Cited by these VCs: Oliver Holle, partner at SpeedInvest

In the SpeedInvest portfolio? Yes.

Total raised: $100.9 million

What it does: Bitpanda is a neo-broker that offers users access to cryptocurrencies. 

Why it's hot in 2021:"We're really excited about Bitpanda here at Speedinvest. The thing that sets the business apart from much of the crypto sector is that it's built on really strong fundamentals: the user interface is exceptional, and has built a strong and loyal user base that loves the product; and the founder team is intelligent, scrappy and capital-efficient — they know how to squeeze every dollar," Holle said. "As a result, Bitpanda's been generating positive cash flow for a number of years already and is in a really strong position to reach unicorn status on the back of the crypto wave."

Salary Finance

Cited by these VCs: Oliver Holle, partner at SpeedInvest

In the SpeedInvest portfolio? Yes.

Total raised: $138.8 million

What it does: Salary Finance partners with employers to allow employees early access to their salaries, to take out loans, and to save money.

Why it's hot in 2021: There's a massive global trend to build financial products around salaries and wages, which is being driven by this growing need, especially among low-to-mid income brackets, for more manageable personal family finances," Holle said. "Salary Finance is a clear leader in this 'employee financial wellness' space in the UK and is already looking strong in the US too." 

Tide

Cited by these VCs: Julian Rowe, partner at Latitude

In the Latitude portfolio? Yes.

Total raised: $114.8 million

What it does: Tide provides loans for small- and medium-sized businesses.

Why it's hot in 2021: "Tide is building a digital financial platform for small- and medium-sized businesses, including core banking services," Rowe said. "As high street banks abandon [these] customers, core banking services offer an attractive entry point to a much deeper, high frequency and mission critical relationship with its customers, including payments, credit, business services and financial services.

"A major recipient of grants from the governments' [competition remedy] scheme to disrupt the high street incumbents, Tide has been able to invest this to support significant growth in customers and accelerate product development."

Codat

Cited by these VCs: Julian Rowe, partner at Latitude

In the Latitude portfolio? No

Total raised: $19.6 million

What it does: Codat simplifies access to small- and medium-sized business' financial data through a universal API integration to accounting packages.

Why it's hot in 2021: "Codat originally came to our attention through their partnership with our portfolio company, Tide," Rowe said. "Companies like Codat have the potential to create a valuable connective tissue to a large and under-served part of the enterprise economy. They can become true platform plays, as other businesses innovate with the data they provide access to, or can equally build their own applications and services on top of that data."

"With geographical expansion on the horizon and the significant new partnerships coming through it's still early days in fulfilling its potential."

Raisin

Cited by these VCs: Rana Yared, partner at Balderton Capital 

In the Balderton portfolio? No.

Total raised: $206 million

What it does: Raisin is a European savings and investment digital marketplace that helps customers to search, apply, deposit and save money via one, easy-to-use platform.

Why it's hot in 2021:"The company has a first-rate management team, which has really driven the business forward," Yared said. "With so much global upheaval, savers need to know they're getting the best ROI on every dollar and we've been impressed by Raisin's ability to tailor its products to its customers' needs."

Marshmallow

Cited by these VCs: Eileen Burbidge, partner at Passion Capital

In the Passion Capital portfolio? Yes.

Total raised:  $31.2 million

What it does: Marshmallow provides insurance products via proprietary pricing algorithms and specializes in auto insurance.

Why it's hot in 2021:"Keep an eye out on what's becoming a highly trusted consumer brand for auto insurance," said Burbidge. "Two twin brothers started the company less than three years ago and are now a full-stack and fully licensed insurer whose Series A financing round valued them at $300 million. In the US market there have been three insurtech IPOs in recent months and Marshmallow's been growing as fast, if not faster, than all of them."

Trustshare

Cited by these VCs: Eileen Burbidge, partner at Passion Capital

In the Passion Capital portfolio? No

Total raised: $1 million

What it does: Trustshare offers an escrow service that brands can implement with minimal code.

Why it's hot in 2021:"Fully brandable escrow service for business and vendors to offer to consumers when paying for goods and services," Burbidge said. "Terrific traction, not very hyped but definitely one to watch (and in my anti-portfolio already!)"

Lin-Manuel Miranda seemingly came out of nowhere. After creating "Hamilton," he became a household name, and his career has skyrocketed in the years since.

"Hamilton," which he wrote and starred in, made its off-Broadway debut in 2015, and it quickly became one of the most popular and most profitable musicals of all time. It easily ranks among modern classics like "The Phantom of the Opera,""The Lion King," and "Wicked."

Before Broadway shut down in March 2020 due to the coronavirus pandemic, "Hamilton" was still one of the most popular shows on Broadway. Tickets were still hundreds of dollars (or thousands on resale websites), and had to be purchased months in advance. 

But "Hamilton"wasn't Miranda's first big hit. He also wrote and starred in "In the Heights," a musical combining hip-hop and salsa that he started to work on while he was in college, which also has a theatrical version all lined up for 2021. In just over a decade, he has won the MacArthur Genius Grant, a Pulitzer Prize, an Emmy, three Tonys, and three Grammys. He's just an "O" away from earning an EGOT — one of the most impressive feats in show business.

As he turns 41 on January 16, we've profiled the rise of Miranda's booming career, to see how he did it and how he continues to aim higher every day.

Carrie Wittmer contributed to a previous version of this article.

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Lin-Manuel Miranda had been interested in musical theater from an early age.

Miranda was born in New York City and grew up in upper Manhattan — specifically Washington Heights.

He credits his inspiration for a career in musicals to "Les Misérables," the first show he saw on Broadway. He saw it with his family when he was 7 years old — you can see him praise the show during his Carpool Karaoke appearance.

His music tastes eventually evolved to include R&B and hip-hop, but musical theater was always a passion. When he attended Hunter College High School, he participated in musical theater.

Most importantly, in college, he started writing his first musical, "In the Heights," that would eventually make it to Broadway. 

In college, Miranda wrote the music and lyrics for his first musical, "In the Heights," which he also starred in. It would go on to debut on Broadway in 2008.

Miranda's non-stop work ethic started in college at Wesleyan University. He wrote an early draft of his first musical, "In the Heights," when he was a sophomore in 1999. The show was added to Wesleyan's student theater company, Second Stage, and played in April 2000.

The lively musical combines hip-hop with salsa and Latin sounds, and is set in the Manhattan neighborhood of Washington Heights, a Hispanic-American neighborhood close to where Miranda grew up. 

After the show's debut, Miranda was approached about expanding the show into a Broadway production. After a run in Connecticut in 2005, "In the Heights" made its premiere on Broadway in February 2008, when Miranda was 28 years old. The show received mostly positive reviews, with many critics noting Miranda's emotional lyrics as its strength.  

"In the Heights" was nominated for 13 Tony Awards and won four, including Best Musical and Best Original Score, and the show ended its run in 2011. By then, Miranda was already two years into his work on his biggest hit to date, "Hamilton."

But while he was developing his first musical, Miranda was hustling to support himself with other jobs.

After college, when Miranda was in his 20s and supporting himself while working on "In the Heights," he wrote political jingles.

Miranda wrote the jingles in English and Spanish for ads for politicians including Eliot Spitzer, the former governor of New York. He got the work through his father, who worked as a political consultant.

Even when Miranda was supporting his career in music, he was writing it.

In between "In the Heights" and "Hamilton," he also wrote music for the musical adaptation of "Bring It On."

With "Bring It On: The Musical," Miranda notched another Best Musical nomination under his belt, as well as a Drama Desk nomination for Best Lyrics.

Read more:The creator of Broadway hit 'Hamilton' shares the money advice he wishes he'd known in his 20s

Miranda began working on "Hamilton" in 2009 — it took six years for it to premiere on Broadway.

Miranda began working on "Hamilton" in 2009. He was inspired to write a hip-hop musical about founding father Alexander Hamilton after reading the 2004 biography"Alexander Hamilton" by historian Ron Chernow. 

He "saw Hamilton's relentlessness, brilliance, linguistic dexterity, and self-destructive stubbornness through his own idiosyncratic lens,"wrote The New Yorker in 2015. "It was, he thought, a hip-hop story, an immigrant's story."

Miranda has said that Hamilton reminded him of rapper Tupac Shakur, which is how he came up with the idea for a diverse hip-hop musical about Hamilton's life.

Miranda worked on "Hamilton"— a project people, including his mentor and famed lyricist Stephen Sondheim, told him would never work — for years. He has said that he worked on the songs"Alexander Hamilton" and "My Shot" for an entire year each. But Miranda never let anyone's opinion discourage him, and it ultimately made its debut at the Public Theater in 2015. Months later, it went to Broadway.

The musical earned him Tony Awards, a Pulitzer Prize, and Kennedy Center Honors.

"Hamilton" became an overnight hit, with tickets selling out and being resold for thousands — if you could even find one. In 2016, "Hamilton" won the Pulitzer Prize for drama. 

Sondheim, who was sent Miranda's lyrics before the show came out and didn't think it had a chance, later told the New York Times, "The wonderful thing about [Miranda's] use of rap is that he's got one foot in the past."

Read more: Lin-Manuel Miranda has made millions off 'Hamilton' in its 5-year run. Here's how the composer makes and spends his fortune, from luxury Manhattan real estate to philanthropic work in Puerto Rico.

After over five years on Broadway, "Hamilton" still sells out theaters, and audiences have to buy expensive tickets months in advance. In 2018, the show made a record-breaking $4 million in one weekend. The show has since been expanded to other cities in the United States and the world, including Los Angeles, London, Chicago, Sydney, and more.

One of the major draws of "Hamilton" is its emphasis on diversity, rather than historical accuracy in its casting.

As the son of Puerto Rican immigrants, Miranda has made diversity an integral part of his work. "In the Heights" was about a Hispanic-American neighborhood in Manhattan, and the musical was cast accordingly.

But if anyone else had written a musical about Alexander Hamilton and his peers, it would have probably featured an all-white cast, since these historical figures were white. With "Hamilton," Miranda opted for color-conscious casting. He chose non-white actors, save for the campy role of King George III. 

For Miranda, representing the spirit of Alexander Hamilton, the spirit of the Founding Fathers, and the spirit of the American Revolution, which emulates that of American hip-hop, was more important than visual historical accuracy.  

'The idea of hip-hop being the music of the Revolution appealed to me immensely,'' Miranda told the New York Times in 2015. ''It felt right.''

While the original cast has left "Hamilton," the show has continued its color-conscious casting, and does so in its touring productions as well.

After he left the show as a cast member, Miranda kept the "Hamilton" content coming with "The Hamilton Mixtape."

He left in 2016 to move on to other things, but he still hasn't lost one bit of his passion for
"Hamilton." That year, "The Hamilton Mixtape," an album that features covers of songs from "Hamilton" by popular artists including Alicia Keys, Kelly Clarkson and John Legend, was released.

"The Hamilton Mixtape"debuted at No. 1 on the Billboard 200, and marked the largest sales in a week for a compilation album since "Cruel Summer" by GOOD Music in 2012.

In December 2017, Miranda announced yet another "Hamilton"-adjacent project, the "Hamildrops."

The first Hamildrop was "Ben Franklin's Song" performed by the Decemberists — it was a cut song from the show that never got set to music, and was just lyrics written by Miranda. Almost every month for the next year, Miranda released a song, 12 in total.

In addition to "Ben Franklin's Song," there was a remixed version of "Wrote My Way Out" by Royce Da 5'9", Joyner Lucas, Black Thought, and Aloe Blacc (the original appeared on the "Mixtape"), a polka medley of songs from the musical by Weird Al Yankovic, a mash-up called "Found/Tonight" that put together a song from "Hamilton" and one from "Dear Evan Hansen" performed by Miranda and Ben Platt, "First Burn," which is an alternate version of the song "Burn" from the show performed by various actresses who played the role of Eliza, a cover of "Helpless" by The Regrettes, a song "Boom Goes the Cannon..." by Mobb Deep that sampled from the musical's song "Right Hand Man,""Rise Up, Wise Up, Eyes Up" by Ibeyi, "A Forgotten Spot (Olvidado)," which was released on the one-year anniversary of Hurricane Maria hitting Puerto Rico and performed by Miranda and Puerto Rican musicians Zion & Lennox, De La Ghetto, Ivy Queen, PJ Sin Suela and Lucecita Benítez, a cut song called "Theodosia Reprise" performed by Sara Bareilles, a new "Hamilton"-inspired song performed by Miranda as his character called "Cheering For Me Now," and — lastly — a rendition of "One Last Time" called "One Last Time (44 Remix)," which has Christopher Jackson (the original George Washington on Broadway) and former president Barack Obama reciting Washington's real-life farewell address.

Also in 2017, Miranda got drunk and talked about Alexander Hamilton for so long that Comedy Central's "Drunk History" had to extend his episode.

"Drunk History," created by Derek Waters and Jeremy Konner, is Comedy Central's liquored-up version of our nation's history. Comedians and actors get drunk and retell a historical event. Then A-list actors, from Michael Cera to Winona Ryder, act out the narration. 

In a 2017 episode, Miranda got drunk and told the story of Alexander Hamilton and Aaron Burr. Speaking with Business Insider, Emmy-nominated "Drunk History" production designer Chloe Arbiture said that Miranda talked so much about Hamilton that his episode was extended. Usually "Drunk History" episodes feature a few historical events per episode.

"For the Lin-Manuel Miranda episode, we knew he was going to talk about Hamilton," Arbiture said. "But we didn't know it would be a long standalone episode. But there was so much great footage that we couldn't cut. So to do it justice, we morphed it into his own episode."

Arbiture mentioned that the extended episode length was a challenge for the production design team, especially for budget reasons. 

Miranda has lent his songwriting abilities to various other films, like "Moana,""Star Wars," and "The Little Mermaid."

In addition to his theater and TV work, Miranda collaborated with Opetaia Foa'i and Mark Mancina on the music and lyrics for the 2016 Disney film "Moana," which earned him an Oscar nomination for the song "How Far I'll Go" in 2017. He started to work on the music for the film in 2014, a year before "Hamilton" came to Broadway.

He also co-wrote and contributed vocals to the cantina song, "Jabba Flow," which was featured in 2015's "Star Wars: The Force Awakens."

In 2017, it was confirmed that Miranda is working with songwriter Alan Menken on new music for Disney's live-action version of "The Little Mermaid." He is also writing music for a Sony animated film, "Vivo," which will be released in 2021.

He's also been acting more as well, with starring roles in "Mary Poppins Returns" and "His Dark Materials," and a guest spot on "Brooklyn Nine-Nine."

In the 2018 sequel to the iconic Disney film, Miranda played Jack, a Cockney lamplighter and former apprentice to Dick Van Dyke's character from the original film. Miranda received a Golden Globe nomination for his performance.

Miranda also took on the role of Lee Scoresby in the HBO adaptation of the Philip Pullman "His Dark Materials" trilogy that premiered in 2019. It has been renewed for a third and final season.

In addition to those main roles, he's popped up in "Brooklyn Nine-Nine" as the brother of Melissa Fumero's character, Amy Santiago, as Julián Castro on "Saturday Night Live," as real-life actor Roy Scheider in an episode of "Fosse/Verdon" (which he also produced), among other roles. He also hosted an episode of "SNL," making him one of the few Broadway stars to host the show — proving how mainstream "Hamilton" has become.

As if he's not busy enough, he also wrote a book, "Gmorning, Gnight!: Little Pep Talks for Me & You" with Jonny Sun.

For years, almost every morning and night, Miranda famously tweeted sweet little messages and affirmations, telling his followers that everything will be OK. He worked with illustrator Jonny Sun to compile his tweets into a book with drawings. It was released in October 2018.

"The real joy of it was really working with Lin to make sure that the illustrations were reflective of him. We spent some time going through each of the tweets, and he kind of gave me like the director's commentary of each kind of passage, and told me here's how he was feeling this day, here's what he was thinking of. And the joy for me was taking all of that stuff and trying to fit it into the image,"said Sun of working with the playwright.

Miranda also makes time for advocacy and charity work for Puerto Rico, especially after Hurricane Maria. He returned to the part of Alexander Hamilton when the musical was in Puerto Rico in 2019.

In September 2017, Hurricane Maria brought devastation to Puerto Rico. His parents had grown up on the island and in his youth, Miranda had spent summers there visiting his grandparents.

Since the hurricane hit, Miranda has used his platform and voice to raise awareness and funds for disaster relief. He visited Puerto Rico and saw what little remained of his grandparents' beloved home. "My job is to amplify the concerns of Puerto Rico," Miranda told CBS News in November 2017. Miranda said that there are still towns in Puerto Rico struggling to get aid. 

Read more: Jennifer Lopez, Lin-Manuel Miranda, Eva Longoria, and more sign letter of solidarity for Latinx community: 'You are not alone'

The day after Maria hit, Miranda wrote a song, "Almost Like Praying." It features Puerto Rican artists, including Jennifer Lopez. The song was released in October 2017, and became the No. 1 song on iTunes in 17 countries. All proceeds from the song went to hurricane relief.

In January 2019, the touring company of "Hamilton"traveled to Puerto Rico, and Miranda returned to the titular role— the entire three-week run sold out and raised an estimated $15 million for Miranda's Flamboyan Arts Fund, according to Rolling Stone.

In 2018, Miranda announced he will be making his directorial debut with the movie adaptation of the Jonathan Larson musical, "Tick, Tick ... Boom!" It's set to premiere on Netflix in 2021.

"Tick Tick ... Boom!" is Larson's other musical — the late playwright is more well-known for megahit "Rent." Miranda was announced to be directing an adaptation of the musical in 2018. It was later picked up by Netflix, with Andrew Garfield starring. On Twitter, it was confirmed that Miranda's directorial debut will premiere on the streaming service this year.

Last summer, the theatrical adaptation of "In the Heights" was supposed to be released, but it was pushed back due to the coronavirus.

While Miranda is not reprising his role as Usnavi, he will be making an appearance as a side character, Piraguero, or the Piragua Guy.

The movie was supposed to be released last summer, but due to the pandemic, it was pushed back a full year. Now, it's part of HBO Max's larger plan to release all films simultaneously in theaters and on the streaming service.

Watch the trailer here.

Just five years after its debut, a filmed version of "Hamilton" was released on Disney Plus on July 3, 2020.

Perhaps to make up for the lack of Miranda-approved musical content, the filmed version of "Hamilton," complete with its original cast, was pushed from an October 2021 theatrical release to a surprise July 2020 drop on Disney Plus.

As CNET noted at the time, it is the only way to see the musical right now, as Broadway performances are shut down for the foreseeable future.

Read More: Lin-Manuel Miranda says he's 'really glad' Prince Harry didn't take the King George III storyline personally when he came to see 'Hamilton'

In December 2020, Disney announced yet another collaboration with Miranda — this time, to write songs for their upcoming animated film "Encanto."

During the overwhelming Disney Investor Day presentation, one of the less-talked-about reveals (since there were so many) was that Miranda is collaborating with the House of Mouse once again to pen the songs for the upcoming "Encanto."

According to IMDb, the film is "centered on a young girl and her family in Colombia, who all have magical powers [while], sadly, the young girl has no powers."

The self-driving industry spent the 2010s inching toward a payoff for the years of effort and billions of dollars it has spent trying to master an enormously difficult but potentially transformative technology. In a few cases, companies started to move paying customers in self-driving vehicles, albeit in relatively small service areas.

There's still plenty of work to be done before robotaxis or computer-operated semi trucks are a fixture of our transportation ecosystem. In the coming decades, a new generation of leaders will help transform self-driving companies from science projects into viable businesses.

Business Insider sought out those upcoming leaders by seeking nominations for the industry's brightest young stars. To be eligible for the list, nominees had to be 29 or younger at the beginning of 2021 (some who were chosen for this list turned 30 before it was published).

These are the autonomous-vehicle industry's rising stars.

SEE ALSO: Google's founders created a wild bonus structure for engineers to incentivize innovation. It made some employees incredibly rich, and also drove many to quit

Qian Chu, 27, TuSimple

As a senior technical project manager at TuSimple, Qian Chu leads the team responsible for technology development, testing, and integration. She was one of TuSimple's 25 first employees and plays an important role in keeping the development of TuSimple's automated-driving system on track, a TuSimple spokesperson said. Chu has a knack for quickly finding and solving both technical and procedural issues, the spokesperson said. 

Chu joined TuSimple after receiving a master's degree in systems engineering from Cornell University.

Jay Kuvelker, 28, Kodiak Robotics

Jay Kuvelker is a hardware engineer at Kodiak Robotics, where he's played a leading role in developing the company's automated-driving system, as well as its strategies for manufacturing and partnerships. Kuvelker created a key piece of hardware that makes it easier to place sensors on a truck's mirror mounts and gives the sensors a better view of the objects behind and beside them. He was also in charge of making sure Kodiak's computing hardware was sturdy enough to handle the stress created by road and weather conditions.

Kuvelker joined Kodiak after working at Uber ATG. He received bachelor's and masters degrees in engineering from Carnegie Mellon University.

Himani Arora, 27, Nuro

Himani Arora is a machine-learning engineer at Nuro focusing on perception. (When she was chosen for this list, Arora was working for Ike, which Nuro has since acquired.) At Ike, she became a leader on the company's perception team and made a significant impact on software responsible for interpreting information from lidar sensors, which bounce beams of light off nearby objects to measure how far away they are, a Nuro spokesperson said.

She was also responsible for creating much of Ike's machine-learning infrastructure for a neural network that interprets long-range data from lidars and helps Ike's perception software improve. Arora's collaborations with other teams at Ike made the company's technology better able to learn from data collected in challenging situations, the spokesperson said.

Before joining Ike, Arora worked on Uber ATG's perception team and received bachelor's and masters degrees in engineering from Delhi Technological University and Columbia University, respectively.

Read more:REVEALED: How much Waymo, Cruise, and Zoox employees make, from engineers to managers

Derek Phillips, 24, Kodiak Robotics

As a software engineer at Kodiak Robotics, Derek Phillips has made an impact on the company's technology and culture. One of Phillips' crowning achievements is Kodiak's Perception Evaluation Engine, which has made it easier for the company to evaluate the efficacy of new code. Phillips has also played a leading role in the company's data-labeling operation and coordinated across teams to make sure Kodiak's automated-driving system can process and respond to vehicles on the side of the road.

Beyond his contributions to the company's technology, Phillips helped lead a discussion at Kodiak this summer about race in the US. He attended Stanford University for his undergraduate and graduate studies in computer science.

Andrey Rykov, 28, Yandex

Andrey Rykov leads the group at Yandex responsible for the company's dynamic-object perception technology, which identifies and categorizes moving objects like vehicles, pedestrians, and cyclists. Rykov created Yandex's lidar sensor and has played a key role in refining the company's lidar technology so it can dismiss irrelevant inputs and comprehend objects it hasn't seen before.

Rykov joined Yandex after earning a bachelor's degree in mathematics and mechanics from Moscow State University and a masters degree in math and computer science from Skolkovo Institute of Science and Technology.

Melinda Kothbauer, 25, May Mobility

Melinda Kothbauer has made an impact on a wide range of initiatives at May Mobility. In addition to leading a revamp of the company's perception system in 2020, she also managed a collaborative effort between May Mobility's software, data infrastructure, autonomy, and vehicle-platform teams on new technology. Kothbauer has also been recognized as the leader of MayID, the company's committee on diversity, inclusion, and belonging, a May Mobility spokesperson said.

Kothbauer earned a bachelor's degree in computer engineering from the University of Michigan before joining May Mobility.

Read more:Meet 2020's Rising Stars of Wall Street from firms like Goldman Sachs, Blackstone, and Bridgewater shaking up investing, trading, and dealmaking

Hana Lodhi, 26, Waymo

Hana Lodhi is a program manager in Waymo's fleet-dispatch division, where she's responsible for supporting on-road tests of updates to Waymo's technology. Lodhi, who studied nutrition as an undergraduate at Arizona State University, played an essential role in managing the logistical and operational details needed to integrate the newest version of the company's automated-driving system into Jaguar I-Pace electric vehicles and prepare it to drive on public roads in Arizona and California. Her leadership in that effort caught the attention of Waymo's operations team, a company spokesperson said.

Luna Yang, 28, Aurora Innovation

Luna Yang is a software engineer at Aurora Innovation, where she's led a number of important projects. She was the driving force behind the creation of Aurora's perception framework and played a major role in developing the machine-learning model for the company's automated-driving system, an Aurora spokesperson said.

Yang also led an initiative to make Aurora's system better at seeing objects that don't fit into the categories it's been trained to recognize and predicting how they'll move. She's made an impact on Aurora's culture by co-founding a resource group for employees who speak English as a second language.

Yang spent three years in China as an actuary after college. After developing an interest in machine learning, she attended a masters program in robotics at Carnegie Mellon University.

Sarah Tang, 30, Nuro

Sarah Tang is a technology manager at Nuro responsible for the company's motion-planning team, which is developing the decision-making process used by Nuro's autonomous delivery vehicles. Tang's team played a critical role in allowing Nuro to put its vehicles on the road in Houston, where they had to be ready to handle narrow roads and maneuver through small openings between parked vehicles, a Nuro spokesperson said. Tang encoded the software that ensures Nuro's vehicles keep a safe distance from surrounding objects.

Tang studied mechanical  and aerospace engineering as an undergraduate at Princeton and received a PhD in mechanical engineering and applied dynamics at the University of Pennsylvania. Before coming to Nuro, she worked as an intern at Google's self-driving-car project (before it was rebranded as Waymo).

Read more:Meet the 40 rising stars of Madison Avenue who are revolutionizing advertising in 2020

Dave Rubin, 30, Cruise

Dave Rubin is a member of Cruise's policy-research team, which works to impact legislation and public opinion related to autonomous vehicles. Rubin's work contributed to the California government's decision to allow autonomous-vehicle companies to charge passengers for rides in self-driving cars. He is also one of Cruise's experts on energy policy, promoting government action at the state and federal level to reducing carbon-dioxide emissions.

Rubin received an undergraduate degree in international business and international affairs from American University and a master's degree in international economics from Johns Hopkins University. 

Shir Yehoshua, 29, Waymo

Shir Yehoshua is a software engineer at Waymo and the leader of a team that's responsible for making sure the company's automated-driving system can make decisions quickly and reliably. She has a knack for finding ways to making her developers' jobs easier and refining Waymo's planning software, a Waymo spokesperson said.

Yehoshua has taken initiative in promoting inclusion and diversity at Waymo by leading a project to eliminate discriminatory language from the company's codebase, software documentation, and user interfaces.

Yehoshua earned a bachelor's degree in math and computer science from the University of Chicago.

Read more:

• GM- and Amazon-backed self-driving outfits are working to overtake Waymo. Experts say the Google spin-off must start expanding if it wants to fend them off.
• VCs have poured $40 billion into self-driving-car startups. These 12 power-player firms have been the most aggressive dealmakers.
• Meet 2020's rising stars of real estate, the young visionaries making waves at big-name firms like CBRE and Compass and industry-shaking startups
• An Nvidia VP reveals why the chip-maker bet on the self-driving truck startup TuSimple to beat Waymo and Aurora in an industry that could be worth $2 billion by 2027

Smart real-estate investors should always be on the lookout for new opportunities.

And because some areas of the US are facing projected home-price decreases over the next year, investors might be able to find affordable properties with the potential for significant upside.

One of them is longtime real-estate investor Cody Sperber, the self-described "clever investor" and founder of "for-purpose" development company Green Elephant Development. He started investing in real estate when he was in debt and has now done hundreds of million in deals, from house flips to rehabs and more.

2021 is the year of the "urban purge," Sperber told Insider, as people continue to leave big cities for affordable homes and lifestyles in what were once flyover states. Because Sperber favors an investment strategy that most often deals with home flips and rental unit acquisitions, he said many of those flyover states are where he's currently focused on doing business, from Idaho to Texas. There, he can buy affordable properties to either renovate and resell for higher prices or rent out to tenants to generate passive income. 

Sperber and his team look for property in areas where job growth and population growth are both high, investors are active, appreciation rates are strong, and the local government is landlord-friendly. These indicators can make a big difference for an investor's bottom line, he said, as overhead costs, tenant laws, and a number of other financial factors vary by state. Picking the right location, then, is key for generating passive income from real-estate. 

SEE ALSO: 4 ways to invest in real estate even if you're low on capital, from the 'clever investor' who went from $30,000 in debt to flipping over 1,000 houses

SEE ALSO: 5 cities real estate investors should target in the 2020s, from a property manager who built an $8 million portfolio from scratch

1. Boise, Idaho

Idaho's capital, Boise, is a dense suburban city home to around 225,000 people. Sixty percent of residents own their homes. The city is ranked 32nd on the list of best cities to buy a house in America and 51st on the list of best cities to raise a family in America, according to Niche. 

The typical home value in Boise has increased 18.2% over the last year to $391,754, according to Zillow, and the listings site predicts local property prices will continue to rise over the next year. 

2. Dallas, Texas

Dallas is home to around 1.3 million residents, and 60% of them rent their homes. The city is ranked among the best places to live in Texas and offers residents a mix of urban and suburban lifestyle, according to Niche. 

The typical value of a home in Dallas is $237,200, according to Zillow. Over the last year, Dallas home values have gone up 6.9%; Zillow predicts they will continue to rise in the next year. 

3. Tampa, Florida

Tampa is home to just over 375,000 people, where about 52% of residents rent their homes. The city is ranked among the best places to live in Florida and the best cities to retire, according to Niche. 

The typical value of a home in Tampa is $272,167, according to Zillow. Over the last year, Tampa home values have gone up 10.9%, and Zillow predicts they will continue to rise over the next year. 

4. Austin, Texas

With a population just under 1 million, Austin is experiencing a boom thanks to an influx of tech companies and executives. The state capital ranked 17th on the list of top US cities for young professionals, 33rd on the list of best places to raise a family in America, and 23rd on the list of best cities to live, according to Niche.

The city's typical home value has risen 12.8% over the last year and now stands at $437,800, according to Zillow, which predicts Austin home values will continue to increase over the next year. 

5. Columbus, Ohio

Columbus is a city home to just over 860,000. Fifty-five percent of residents rent their homes in the state capital. The city is ranked among the best cities for young professionals in America and offers residents an urban suburban mix, according to Niche.

The city's typical home value has risen 11.6% over the last year and now stands at $186,726, according to Zillow, which predicts Columbus home values will continue to increase over the next year. 

6. Topeka, Kansas

Topeka is a dense suburban city ranked among the best in Kansas, where about 57% of residents own their homes. The state capital, which has a population of just over 125,000, is among the best cities to buy a house in America, according to Niche. 

The typical home value in Topeka increased 9.7% over the last year to $130,740, according to Zillow. Topeka home values are predicted to increase 10.3% in the next year.

7. Birmingham, Alabama

Birmingham is a dense suburban city home to just over 200,000 residents. Birmingham ranks among the cities with the lowest cost of living in America, and 54% of residents rent their homes.

The typical home value in Birmingham increased 15.7% over the last year to $74,489, according to Zillow. Birmingham home values are predicted to increase 13.1% in the next year.

Few active managers have the chops to match Aram Green when it comes to growth investing. 

At ClearBridge Investments, Green manages the Select Strategy fund and comanages its small-cap growth, midcap growth, and aggressive growth strategies.

Over the past five years, his Select Strategy fund has outperformed 96% of its competitors.

Business Insider recently spoke with Green about which positions he was adding to in the fund. He shared with us six stocks that he believed had strong secular growth prospects over the next decade, some of which have cyclical tailwinds behind them as the economy recovers.

"I think these companies are five- to 10-year winners dominating their space. Profitability is going to grow through the roof for these businesses," he said in a December 23 interview.

"They did not take their foot off the accelerator — maybe pumped the brakes in March when the world was coming to an end, when no one really knew what was going on — in investing in R&D in Q2 and hiring sales and marketing people," he added. "And that original sort of 'we don't know what the world looks like' quickly turned into opportunity for us."

The six stocks are listed below, with Green's commentary on each.

SEE ALSO: Wall Street experts are calling Georgia's runoff results 'the first surprise of 2021.' Here's how 4 of them recommend positioning your portfolio for what could happen next.

1. DocuSign

Ticker: DOCU

Green's commentary: "We haven't sold a single share of DocuSign. Actually we bought more this fall. And the earnings and the sales revisions have gotten ratcheted higher, and the stock has gone up, but the multiple really hasn't changed. So we haven't seen much multiple inflation, even though the numbers have gone higher. The stock has just kept up with the growth. And I think that's what you see next year.

"The stock has seen big revisions in terms of the underlying revenue and billings trajectory — that was a company that was growing 30% heading into COVID, and now revenue billings growth is in the 50 to 60% year over year. 

"And one of the promises of DocuSign is they have an expansion opportunity within their addressable market, almost double the size, by expanding just beyond their core e-signature offering to offer a contract life-cycle-management solution, which has integrated artificial intelligence and machine learning, to have business insights and manage the entire life cycle of a contract as it sits within an enterprise or government agency."

2. WillScot Mobile Mini

Ticker: WSC

Green's commentary:"They're the No. 1 share player with 30% share.

"In the past you'd have a very competitive landscape where there were a number of private price aggressors in the market, and WillScot has consolidated that market. And so we're coming into a very rational market at a time that we're going to see volumes improving. So it's a really attractive asset. 

"They buy these modular facilities and containers in portable storage. They have a useful life of 20 years, the [internal rates of return] are 20 to 30% per year. They're selling more value-add offerings inside, which sounds pretty simple, but they're putting refrigerators in there, shelving, and lighting — all stuff that a customer would need to put in there. So that adds an extra 5 points of IRR on their investment.

"You have a cyclical tailwind to the business as there's an economic reopening, more construction. Any infrastructure bill we see, etc., is going to give a boost to the underlying growth trends in the industry. So I think you have a lot of idiosyncratic things going on within this industry and this company, and then you add on the cyclical element too. We think there's considerable upside.

"We think it could be a double over the next couple of years."

3. Lowe's

Ticker: LOW

Green's commentary: "The stock has done well, but it's not been due to multiple expansion, it's been the earnings coming through.

"We see a business that EPS can compound in midteens plus the next couple years. Margins were 9% last year; we see them going to 12% plus as they comp at higher rates. They're bringing the COVID costs down. They're reaping the benefits of the supply chain costs. They've invested in their digital effort. They've invested behind pro. And you have a business trading at 17 times earnings, which is below the market, and Home Depot that trades at low 20s — 21 times, 22 times. So I think you could have a multiple catch-up that's coming through the fundamentals as management gains more credibility.

"There were all these headwinds that turned into tailwinds. ... We've seen the numbers on home sales, and I think that has legs going into 2021 as we see all of these people that just bought new homes and continue to buy homes as we speak, they're going to be putting more money into their homes."

4. Vroom

Ticker: VRM

Green's commentary:"It's a really hot used-car market right now, but that is a market that — call it a $650 billion market where the largest player nationally is CarMax with less than 2% market share. And in the digital space, we are less than 1% penetrated, and so we just think we're in really early days of customers buying their car digitally.

"And that is going to continue for many, many years in an industry that is very fragmented, where the current user experience of going onto a used-car lot and buying a car is very low — very low hurdle to jump over.

"Carvana owns all their reconditioning centers. They own all their carriers that distribute cars to their customers' homes, and Vroom has taken a more hybrid approach of like, 'We're going to own some of it, but we're also going to leverage players in the industry like a manhunt to do the reconditioning for us.'

"The CEO of Vroom is the former CEO of Priceline … I think he really understands the customer-acquisition element of it and managing a marketplace."

5. Wix

Ticker: WIX

Green's commentary:"They have been very innovative. It's been pretty much an entirely organic growth story starting in do-it-yourself website-development tools.

"They've really invested in payments, e-commerce, vertical solutions for restaurants, hotels, etc.

"You have all these avenues of additional growth that weren't around three years ago.

"The importance of having a very powerful digital experience to connect with the customers or users, as well as conduct commerce online, is just critical. How can you have a business without that these days? And I don't think that's just a COVID thing. It was in place ahead of COVID, but we just saw this acceleration.

"And they've been leaning into development, and they've been leaning into customer acquisition. ... And I just think that pays dividends in the years ahead."

6. Yext

Ticker: YEXT

Green's commentary: "What Yext does is it's a massive database that empowers businesses to manage that information and then disseminate it out to Yelp, Facebook, Apple, Google, Siri, Alexa, etc. So it's kind of this content engine that allows these businesses to manage this information about who they are, what's conducted at these businesses. 

"The stock's really not gone anywhere in many, many years; it trades at a low multiple. They started to get going pre-COVID. The stock got clobbered again in COVID. They've got a lot of innovation, so I'm very optimistic that it's only a matter of time before this clicks, or someone like a Salesforce, Adobe — someone will want to own this asset, and it's trading at half to a quarter of valuation of acquisitions we've seen take place in the software space. So I just don't see a lot of downside. It's minimal downside, with the opportunity to have a double over the next three years."

One of the most important questions for investors in 2021 is how to bet on the ongoing economy recovery — even if its course looks uncertain right now. Goldman Sachs is giving its answer.

Chief US Equity Strategist David Kostin says he expects success for companies with high operating leverage, or the companies that will experience proportionately greater growth in their profits as their revenues increase. That means they should benefit the most as economic activity increases.

"Our high Operating Leverage basket has outperformed the S&P 500 by 9 pp (+18% vs. +9%) since November 9th when Pfizer-BioNTech released the surprisingly efficacious phase 3 vaccine results," he wrote in a note to clients. "Stocks with high operating leverage will likely continue to outperform as corporate revenues recover."

Kostin writes that overall, S&P 500 operating leverage is the highest it's been in a decade. That's one reason he expects a stronger recovery in earnings than most Wall Street experts do.

"Even absent any cost controls, an economic and revenue recovery – benefitting from increased fiscal stimulus and widespread vaccinations – should lead to an even stronger earnings rebound," he said. "Our 2021 S&P 500 EPS forecast of $178 stands well-above consensus of $167."

Kostin and his team assessed S&P 500 stocks based on their operating leverage, as measured by their comparatively low costs of goods sold; depreciation expenses; and selling, general and administrative expenses. Those low expenses mean larger profits for them as revenues ramp up.

Kostin's high-leverage group exclude financial and utility companies because of their different financial metrics and business models. He says the median degree of operating leverage for S&P 500 companies is 2.7, while the median degree for the top 50 companies listed by Kostin is 5.9.

The companies listed below all meet or exceed the median the group Kostin writes about. They're ranked from lowest to highest based on their degree of operating leverage.

Read more:

• Legendary investor Bill Miller compared marijuana legalization to the early days of gambling and shares the one pot stock he's betting on to soar
• An ex-Goldman trader whose firm helps investors navigate market chaos just passed $1 billion in assets after converting her hedge fund into an ETF
• $138 billion megafund AQR shares a step-by-step guide for investors who want to reduce their portfolios' carbon footprints — and explains why this move could propel returns in the long run

SEE ALSO: A former journalist who worked his way up to become one of Wall Street's best tiny-company stock pickers tells us the 4 pillars of the approach that's beating 98% of his competitors

25. Ingersoll Rand

Ticker: IR

Sector: Industrials

Market cap: $19.2 billion

2021 estimated sales growth: 8%

Degree of operating leverage: 5.9

Source: Goldman Sachs

24. Gartner

Ticker: IT

Sector: Information technology

Market cap: $14.7 billion

2021 estimated sales growth: 9%

Degree of operating leverage: 6.0

Source: Goldman Sachs

23. Juniper Networks

Ticker: JNPR

Sector: Information technology

Market cap: $7.7 billion

2021 estimated sales growth: 3%

Degree of operating leverage: 6.1

Source: Goldman Sachs

22. Fiserv

Ticker: FISV

Sector: Information technology

Market cap: $73.9 billion

2021 estimated sales growth: 8%

Degree of operating leverage: 6.1

Source: Goldman Sachs

21. Dentsply Sirona

Ticker: XRAY

Sector: Healthcare

Market cap: $13 billion

2021 estimated sales growth: 17%

Degree of operating leverage: 6.2

Source: Goldman Sachs

20. Mosaic

Ticker: MOS

Sector: Materials

Market cap: $10.6 billion

2021 estimated sales growth: 7%

Degree of operating leverage: 6.2

Source: Goldman Sachs

19. Hewlett Packard Enterprise

Ticker: HPE

Sector: Information technology

Market cap: $15.7 billion

2021 estimated sales growth: 1%

Degree of operating leverage: 6.5

Source: Goldman Sachs

18. VF

Ticker: VFC

Sector: Consumer discretionary

Market cap: $33.4 billion

2021 estimated sales growth: 13%

Degree of operating leverage: 6.9

Source: Goldman Sachs

17. Walgreens Boots Alliance

Ticker: WBA

Sector: Consumer staples

Market cap: $42.4 billion

2021 estimated sales growth: 2%

Degree of operating leverage: 7.2

Source: Goldman Sachs

16. Ulta Beaty

Ticker: ULTA

Sector: Consumer discretionary

Market cap: $16.6 billion

2021 estimated sales growth: 18%

Degree of operating leverage: 7.3

Source: Goldman Sachs

15. Western Digital

Ticker: WDC

Sector: Information technology

Market cap: $15.0 billion

2021 estimated sales growth: 5%

Degree of operating leverage: 7.7

Source: Goldman Sachs

14. Kroger

Ticker: KR

Sector: Consumer staples

Market cap: $24.3 billion

2021 estimated sales growth: -2%

Degree of operating leverage: 7.8

Source: Goldman Sachs

13. Sysco

Ticker: SYY

Sector: Consumer staples

Market cap: $38.8 billion

2021 estimated sales growth: 6%

Degree of operating leverage: 7.9

Source: Goldman Sachs

12. Corteva

Ticker: CTVA

Sector: Materials

Market cap: $32.9 billion

2021 estimated sales growth: 4%

Degree of operating leverage: 7.9

Source: Goldman Sachs

11. Amazon.com

Ticker: AMZN

Sector: Consumer discretionary

Market cap: $1.59 trillion

2021 estimated sales growth: 18%

Degree of operating leverage: 8.0

Source: Goldman Sachs

10. News Corp.

Ticker: NWSA

Sector: Communication services

Market cap: $10.8 billion

2021 estimated sales growth: -2%

Degree of operating leverage: 10.0

Source: Goldman Sachs

9. Tapestry

Ticker: TPR

Sector: Consumer discretionary

Market cap: $9.4 billion

2021 estimated sales growth: 6%

Degree of operating leverage: 10.3

Source: Goldman Sachs

8. DXC Technology

Ticker: DXC

Sector: Information technology

Market cap: $7.2 billion

2021 estimated sales growth: -6%

Degree of operating leverage: 12.9

Source: Goldman Sachs

7. ServiceNow

Ticker: NOW

Sector: Information technology

Market cap: $101.7 billion

2021 estimated sales growth: 25%

Degree of operating leverage: 15.9

Source: Goldman Sachs

6. Ralph Lauren

Ticker: RL

Sector: Consumer discretionary

Market cap: $8.3 billion

2021 estimated sales growth: 10%

Degree of operating leverage: 16.6

Source: Goldman Sachs

5. Ford

Ticker: F

Sector: Consumer discretionary

Market cap: $38.9 billion

2021 estimated sales growth: 23%

Degree of operating leverage: 17.2

Source: Goldman Sachs

4. Twitter

Ticker: TWTR

Sector: Communication services

Market cap: $37.5 billion

2021 estimated sales growth: 22%

Degree of operating leverage: 34.4

Source: Goldman Sachs

3. Salesforce.com

Ticker: CRM

Sector: Information technology

Market cap: $199.5 billion

2021 estimated sales growth: 20%

Degree of operating leverage: 76.4

Source: Goldman Sachs

2. HollyFrontier

Ticker: HFC

Sector: Energy

Market cap:

2021 estimated sales growth: 3%

Degree of operating leverage: 154.4

Source: Goldman Sachs

1. PVH

Ticker: PVH

Sector: Consumer discretionary

Market cap: $7.5 billion

2021 estimated sales growth: 19%

Degree of operating leverage: 183.3

Source: Goldman Sachs

Crossing oceans and continents in aircraft fueled by electricity is decades away, at best, but that doesn't mean that electric air travel will remain a pipe dream until then.

A veritable horde of startups are working to get battery-powered aircraft off the ground, and a number of them are making progress towards electric aircraft that can help people navigate cities, travel to meetings, deliver and receive packages, and soon, even take commercial regional flights with a fraction of the emissions produced by today's passenger planes.

This is a nascent market, but recent advances in battery and computer technologies have made it a popular one: more than 220 companies are competing to deliver the tech that will mark the end of the jet age and usher in a new era. 

Business Insider asked consultants and venture capitalists to share the top electric aviation startups worth keeping an eye on, including Kirsten Bartok Touw of AirFinance Capital, Dean Donovan of DiamondStream Partners, and Robert Thomson of Roland Berger.

While each stressed that it's difficult to discuss these startups as a monolith — there are many markets to mine here, including cargo transport, urban mobility, autonomy, light aircraft, and jet aircraft — several still emerge as strong contenders worth watching.

Here are the big ones to watch.

SEE ALSO: Airports don't have the infrastructure to charge the coming wave of electric planes — and a solar power startup CEO says he has the solution

Joby Aviation

Total fundingraised: $720 million

What the company does: Joby is developing an electric vertical take-off and landing (eVTOL) "air taxi" that could provide fast, efficient, clean transportation around cities.

Why it was chosen: Joby was chosen by all of the experts Business Insider spoke with. The company is fairly well-funded, with Toyota making a large investment during the company's C-series. The company began a formal certification program with the FAA in 2018, and says it is targeting certification and initial deployment in 2023. The company also has a commercial partnership with Uber, allowing it fast entry into the market once the aircraft is certified.

Volocopter

Total fundingraised: €118.2 million (about $140.4 million)

What the company does: Volocopter is another "air taxi" maker developing an eVTOL for the urban air mobility market.

Why it was chosen: Volocopter is another well-funded startup, with investments coming from a wide array of sources including Geely Global, the Chinese company which owns Volvo. The company has said it is roughly two to three years from bringing its products to market. The company began selling tickets in 2019 for its first flights, albeit without a firm timeline.

"You've got Joby and you've got Volocopter, which look like they're on track for certification by 2023," Bartok Touw said. "As certification becomes more of a given and less of a question mark, then I think it'll be much easier for those companies to raise [more] capital."

Lilium

Total fundingraised: $376.4 million

What the company does: Lilium is designing a five-seat eVTOL "jet" aircraft.

Why it was chosen: Lilium is working on a somewhat different design compared to other eVTOL startups. Its Lilium Jet airplane has two fixed wings, with a total of 36 electric motors (and thus is not, in fact, a jet). The aircraft has a range of about 160 miles, giving it greater reach than some of the more helicopter or drone-like designs.

Eviation

Total fundingraised: About $200 million

What the company does: Eviation is creating an all-electric business jet

Why it was chosen: Israeli startup Eviation unveiled its Alice aircraft at the Paris Air Show in 2019. The $4 million Alice can carry nine passengers (and two crewmembers) up to about 600 miles, operating at a fraction of the cost of traditional propeller aircraft. It already has more than 150 orders, including from launch customer Cape Air, which plans to replace its fleet of Cessna 402 aircraft with the all-electric propeller plane. Eviation expects FAA certification around 2022, although its prototype was damaged in a fire during a systems test earlier this year.

Heart Aerospace

Total fundingraised: $2.3 million

What the company does: Sweden-based Heart Aerospace is designing an all-electric 19-seat airliner

Why it was chosen: Founded in 2018, Heart has only undergone its initial seed funding. However, it caught the eye of prolific Swedish fund EQT Partners, which contributed a large part of that round. The company was also awarded a €2.5 million (about $3 million) grant from the European Innovation Council. The company unveiled its 19-seat "ES-19" regional airplane design in September. The propeller plane will have a range of roughly 200 miles, and will serve a significant market need in the Nordic region.

Wright Electric

Total fundingraised: $120,000 (plus $650,000 in grants)

What the company does: Albany, NY-based Wright Electric is working to build a full-sized electric narrow-body aircraft.

Why it was chosen: Wright is still fairly young, with just a small amount of seed funding. But it's a company with potential, according to Robert Thomson of Roland Berger. Wright is working to create a 186-seat electric jetliner that can fly for up to two hours, giving it a range of roughly 300 miles.

While the technology to enable long-haul electric flying is still decades away, Wright argues that three quarters of all flights are on narrow-body aircraft, generating half of all aviation-related market emissions, meaning its Wright 1 jet could make a real difference as the aviation industry scrambles to lower emissions. Wright is aiming to bring its first plane into service by 2030, and has partnered with European low-cost carrier EasyJet, as well as business jet provider Jetex.

"Wright Electric is doing a good job of trying to press ahead," Thomson said.

Elroy Air

Total fundingraised: $16 million

What the company does: Elroy is developing autonomous electric aircraft to transport cargo and deliver packages.

Why it was chosen: Elroy is at the forefront of a frantic push to develop unmanned drones to help move cargo, with applications ranging from package delivery to transporting humanitarian aid to remote disaster-struck regions. Its initial design will have a range of 300 miles and can carry 250-500 pounds of cargo. Elroy is hoping to start using the product in 2021.

"I like Elroy, they're doing something really cool," Bartok Touw said. "They're [doing] bigger cargo, like 300-pound payloads."

Matternet

Total fundingraised: $31.1 million

What the company does: Matternet is another logistics startup designing a delivery drone, along with an integrated shipping platform.

Why it was chosen: Matternet's drone delivery concept has already borne fruit. In 2019 UPS, using Matternet drones, was granted the first FAA airline approval — known as a Part 135 certificate — to operate a drone airline. UPS and Matternet began a test program earlier in the year to transport medical supplies between campuses at the WakeMed health system in Raleigh, NC, and in April 2020, as coronavirus lockdowns proliferated the US, the companies began a drone-powered delivery service at The Villages retirement community in Florida, offering efficient and contact-less deliveries of CVS prescriptions. The company is also close to being granted FAA Type Certification, which would allow a faster expansion.

Netflix's new French series "Lupin" debuted last week to critical acclaim, and now it's one of Netflix's most popular titles.

But it couldn't beat Shonda Rhimes' first Netflix series, "Bridgerton," or the "Karate Kid" sequel series, "Cobra Kai," which recently debuted its first true Netflix original season.

Every week, the streaming search engine Reelgood compiles for Business Insider a list of which TV shows have been most prominent on Netflix's daily top 10 lists of its most popular titles that week.

SEE ALSO: The top 9 movies on Netflix this week, from 'We Can Be Heroes' to 'Superbad'

9. "Jenni Rivera: Mariposa de Barrio" (Telemundo, 2017)

Description: "This drama follows Mexican-American singer Jenni Rivera's unlikely rise from suicidal pregnant teen and abused wife to banda superstar."

Rotten Tomatoes critic score: N/A

What critics said: N/A

8. "History of Swear Words" (Netflix original, 2021-present)

Description: "Nicolas Cage hosts this proudly profane, funny and engagingly educational series about the history and impact of the most notorious English swear words."

Rotten Tomatoes critic score: 73%

What critics said: "The contributing comedians, among them Nick Offerman, Nikki Glaser, and Sarah Silverman, have their share of fun with the subject matter. But it's the linguists who really give the series its transgressive heft."— Boston Globe (season one)

7. "Gabby's Dollhouse" (Netflix original, 2021-present)

Description: "Cute cats, quirky crafts and colorful magic! Join kitty enthusiast Gabby and her sidekick Pandy Paws as they team up for a series of animated adventures."

Rotten Tomatoes critic score: N/A

What critics said: N/A

6. "LA's Finest" (Spectrum, 2019-2020)

Description: "In this spinoff of the 'Bad Boys' franchise, two police detectives team up while trying to keep their stormy pasts — and differences — from interfering."

Rotten Tomatoes critic score: N/A

What critics said: N/A

5. "Cocomelon" (YouTube, 2020-present)

Description: "Learn letters, numbers, animal sounds and more with J.J. in this musical series that brings fun times with nursery rhymes for the whole family!"

Rotten Tomatoes critic score: N/A

What critics said: N/A

4. "Surviving Death" (Netflix original, 2021)

Description: "What happens after we die? This docuseries explores personal stories and research on near-death experiences, reincarnation and paranormal phenomena."

Rotten Tomatoes critic score: N/A

What critics said: N/A

3. "Lupin" (Netflix original, 2021-present)

Description: "Inspired by the adventures of Arsène Lupin, gentleman thief Assane Diop sets out to avenge his father for an injustice inflicted by a wealthy family."

Rotten Tomatoes critic score: 100%

What critics said: "Lupin is an addictive, clever puzzle that combines elements from Luther, Sherlock Holmes, and Inside Man for an engrossing experience."— RogerEbert.com (season one)

2. "Cobra Kai" (Netflix original, 2018-present)

Description: "Decades after the tournament that changed their lives, the rivalry between Johnny and Daniel reignites in this sequel to the 'Karate Kid' films."

Rotten Tomatoes critic score: 93%

What critics said: "Still has a great combination of character depth and self-referential humor that makes it one of the best shows of the reboot era."— Decider (season three)

1. "Bridgerton" (Netflix original, 2020-present)

Description: "The eight close-knit siblings of the Bridgerton family look for love and happiness in London high society. Inspired by Julia Quinn's bestselling novels."

Rotten Tomatoes critic score: 90%

What critics said: "This is a handsome, lavish romance that will appeal to a large audience, but it's also painstakingly insubstantial."— Newsday (season one)

We asked our Rising Stars of Wall Street to recommend a book to our readers and their selections range from the origins of value investing to a timely retelling of the Spanish Flu Pandemic, from "Margaritaville" singer Jimmy Buffett's autobiography to a 368-page work on why we sleep. 

The full selection of 32 books, and the stars' comments about them, are below.

Read our full list of the rising stars of Wall Street shaking up investing, trading, and dealmaking.

SEE ALSO: Meet 2020's Rising Stars of Wall Street from firms like Goldman Sachs, Blackstone, and Bridgewater shaking up investing, trading, and dealmaking

"A Little Life" by Hanya Yanagihara

Rising star: Alexander Tingle, director of technology, media, and telecom investment banking, UBS Investment Banking

Tingle's partner, who is also a banker, once recommended he read "A Little Life," the haunting, critically acclaimed novel by Hanya Yanagihara that was published in 2015 and centers on ambitious young men who move to New York City.

"I loved it," Tingle said, admitting with a laugh that he's not the most avid reader, but "A Little Life" has stuck with him — and not only because it's set in New York, where he's now building his career.

One of the central characters, a successful go-getter, is struggling with his mental health throughout the story. For Tingle, he was inspired by that character's portrayal and brought to mind mental health-related stigmas that persist in some workplaces, especially for people in cutthroat positions.

"How to Lead: Wisdom from the World's Greatest CEOs, Founders, and Game Changers" by David Rubenstein

Rising star: Will Boeckman, head of US electronic sales, Citadel Securities

Will Boeckman, Citadel Securities' head of electronic trading for fixed income, currencies, and commodities, named Carlyle Group founder David Rubenstein's recently-released book "How to Lead: Wisdom from the World's Greatest CEOs, Founders, and Game Changers" as his go-to pick.

"It's kind of an anthology of various industries," Boeckman said of the book, which aggregates highlights from Rubenstein's interviews with noteworthy individuals like Oprah Winfrey, Bill Gates, and former presidents George W. Bush and Bill Clinton, whom he spoke with on his eponymous show on Bloomberg TV.

"A key takeaway from these stories is the importance of finding your passion. I'm obviously very passionate about finance," Boeckman said, "and it's something that was mentioned by a few of the people" that Rubenstein interviewed.

"Give and Take" by Adam Grant

Rising stars: Rachel Murray, vice president at Moelis, and Lacey Vigmostad Giliberto, vice president at Credit Suisse 

Lacey Vigmostad Giliberto, a vice president in syndicated loans sales at Credit Suisse, named "Give and Take: Why Helping Others Drives Our Success" by Adam Grant, a legendary Wharton professor, as among her favorites. "It's about striving to be somebody who gives to others and then expects nothing in return," she said, "and how ironically fruitful that can be for your own life and career."

Moelis's Rachel Murray, a restructuring banker told Business Insider: "It shows that it's not just about you. In the grand scheme of things, it's how you help others along the way. How you can grow the pie for everyone.'

"Open" by Andre Agassi

Rising star: Daniel Costanza, chief data scientist, Citigroup

Citigroup's Daniel Costanza recommends "Open" by tennis champ Andre Agassi, which he called "a really wonderful book about his experience in tennis where he didn't really like tennis in the moment," but eventually came to embrace it, he said.

"I think his experience of learning how to love the day to day and love the moment is really powerful," Costanza explained. 

"Young Money" by Kevin Roose

Rising star: Daniel Costanza, chief data scientist, Citigroup

For those flirting with the idea of a finance career who have yet to take the plunge, Daniel Costanza recommended "Young Money," a collection of stories by author Kevin Roose about the trials and tribulations of young financiers. 

The book holds insights into "all the wrong reasons why you can go into finance," Costanza said, making it a cautionary tale for those who aren't sure if the intense pace of life on Wall Street is right for them.

"Dare to Lead" by Brené Brown

Rising star: Alexis Rosenblum, chief corporate sustainability officer, BlackRock

Throughout the pandemic, Rosenblum has switched to audiobooks — "I'm not sure why, but I think that's the only time I get out of the house: when I take a walk in the afternoon, put my headphones in, and listen to something"— and recently listened to"Dare to Lead", a book by Brené Brown.

It resonated with Rosenblum, who said that she's always been drawn to learning about the field of psychology, and Brown explores human themes like empathy, courage, and shame.

Brown builds the book around the famous "arena" quote from Theodore Roosevelt, about credit belonging "to the man who is actually in the arena, whose face is marred by dust and sweat and blood." It inspired Rosenblum, who took away lessons about being a leader.

"Leaders are in the arena, and there are lots of people in the stands who are there just to criticize or comment on what you're doing. But being in the arena takes courage. It gives you a lot of advice around, how do you think about having that courage?" she said.

"Active Portfolio Management: A Quantitative Approach for Producing Superior Returns and Selecting Superior Returns and Controlling Risk" by Richard Grinold and Ronald Kahn

Rising star: Robert Lam, co-head of credit, Man Group's Man Numeric 

Man Group's Robert Lam recommended "Active Portfolio Management: A Quantitative Approach for Producing Superior Returns and Selecting Superior Returns and Controlling Risk" by Richard Grinold and Ronald Kahn.

"It's pretty technical, but a must-read for any quant," he said. 

"The Short and Tragic Life of Robert Peace" by Jeff Hobbs

Rising star: Mir Subjally, credit trader, Deutsche Bank

"It was a really interesting dichotomy. It's about a young African-American man who grew up in a rougher neighborhood in Newark but went to Yale and ended up being really successful in his academic work. But he struggled at times to mesh the two worlds together," Mir Subjally, a credit trader, told BI about "The Short and Tragic Life of Robert Peace" by Jeff Hobbs. 

"It shows that the path to equality isn't always as easy and seamless. Going to Yale on a scholarship, it can still be really hard for people. People often don't get that."

"Start With Why" by Simon Sinek

Rising star: Doug Scott, CEO, Ethic

In Ethic's early days, CEO Doug Scott said he and his team gave investors and employees the business and leadership-focused book "Start With Why," written by the author and motivational speaker Simon Sinek. It was inspirational for the co-founder, and integral for starting Ethic and making a transition from traditional financial services.

It tries to get across that the "core of everything is: why this, why are we actually focusing on this? Why are you building this business? Why are you in this career? 'Why' — that was the core tenet," he said.

"The Warmth of Other Suns: The Epic Story of America's Great Migration" by Isabel Wilkerson

Rising star: Danielle Cooper, director, Annaly Capital Management

"The Warmth of Other Suns" by Isabel Wilkerson is an analysis of the 70-year Great Migration of Black people in America from the rural south to the urban north after the end of reconstruction and the beginning of Jim Crow segregation.

The book is very narrative, following the lives of multiple migrants, and inspired Danielle Cooper, who is Black, to talk more with her family about their history of migration.

"The Great Influenza: The Story of the Deadliest Plague in History" by John M. Barry

Rising star: Danielle Cooper, director, Annaly Capital Management

Danielle Cooper also recommended an exceedingly timely read: "The Great Influenza: The Story of the Deadliest Plague in History" by John M. Barry.

While Cooper said she usually reads fiction, she read this book as part of a series of firm-wide virtual book clubs since the beginning of the coronavirus pandemic.

"The Great Influenza," is an in-depth retelling of the Spanish Flu Pandemic, the last global pandemic, and Cooper said the similarities between this pandemic and the last one show how much we still have to figure out.

"Drawdown: The Most Comprehensive Plan Ever Proposed to Reverse Global Warming" edited by Paul Hawken

Rising star: Jay Lipman, co-founder and president, Ethic

Jay Lipman pointed to a book that Ethic has given to people close to the company, called "Drawdown: The Most Comprehensive Plan Ever Proposed to Reverse Global Warming," edited by Paul Hawken and produced by the non-profit organization Project Drawdown.

"For me, it's a game plan of how to actually seek solutions to the biggest existential threat that we actually face as a species and as a planet," Lipman said. "Whenever I introduce people to the book, you see people get obsessed with the kinds of things that we can be doing, whether that's regenerative agriculture, renewable energy, or reducing food waste."

"Beating the Street" by Peter Magellan

Rising star: Jennifer Fo Cardillo, portfolio manager, Fideltiy

"Being a Fidelity person, I had to pick a Peter Lynch book," said Jennifer Fo Cardillo, a small-cap portfolio manager at the firm, referring to the famed money manager and longtime Fidelity investor.

Lynch ran the firm's Magellan Fund from 1977 to 1990.

"'Beating the Street has been one of my favorites, such a classic. It's about how Peter ran Magellan day-to-day. And so I've just found it to be an excellent guide to investment processes for new fund managers," she said.

"Faith of My Fathers" by John McCain

Rising star: Victor Perez, vice president in credit derivative trading, Wells Fargo

For Victor Perez, a Naval veteran and vice president in credit derivative trading at Wells Fargo, the late John McCain's "Faith of My Fathers,"a 1999 autobiography and memoir, is a must-read.

The late Arizona senator and Naval officer "was a role model for us going through the Naval academy," Perez said. The book looks back on McCain's pedigree, his father and grandfather both being esteemed four-star Naval admirals, and McCain having survived imprisonment and torture in Vietnam starting from when he was shot down while flying over Hanoi in 1967.

"A Pirates Look at Fifty" by Jimmy Buffet

Rising star: Victor Perez, vice president in credit derivative trading, Wells Fargo

Another book Victor Perez recommended, albeit with a much different tone, is Jimmy Buffett's "A Pirate Looks at Fifty," in which the musician takes readers on a journey through the Caribbean, and shares stories from his life. The book centers on Buffett's experiences surrounding his fiftieth birthday.

"The guy is just so chill, so cool," Perez said, adding, "I'm like, man, that's that's what I want to do when I'm older."

"Just Kids" by Patti Smith

Lauren Goodwin, economist and multi-asset portfolio strategist, New York Life Investments

"It's a story about friendship and finding beauty in New York City when times are hard both for yourself and for the city, and the drivers of the creative process," New York Life Investments's Lauren Goodwin said about Patti Smith's popular "Just Kids". "I am trained in music and language, and so these processes and styles are really near and dear to my heart."

"But Patti Smith is just a generous and lyrical narrator, and she shares glimpses of the fabulous yet grungy 70s, music scene, while really anchoring in the humanity of her experience and that time."

"Security Analysis" by Benjamin Graham and David Dodd

Rising star: Paul Kamenski, co-head of credit, Man Group's Man Numeric 

If you're looking to read about value investing, Man Group's Paul Kamenski suggests not worrying about getting your hands on billionaire hedge funder Seth Klarman's out-of-print book, "Margin of Safety".

"Much has been said about 'Margin of Safety' over the years, but in my opinion nothing quite compares to the original "Security Analysis" by Benjamin Graham and David L. Dodd. They epitomized the concept through their careful approach, still relevant to this day," said Kamenski.

"Contrarian Investment Strategy: The Psychology of Stock Market Success" by David Dreman

Rising star: Paul Kamenski, co-head of credit, Man Group's Man Numeric 

Paul Kamenski also put forward David Dreman's "Contrarian Investment Strategy: The Psychology of Stock Market Success"  as a must-read as they served as his first entrance into the world of systematic, quantitative investing.

"Compared with what has now often become fairly complex and evolved, his works as an early adopter of the approach were simple, intuitive, and persuasive, establishing clear roots for what it means to use a systematic approach," added Kamenski. 

"Little Women" by Louisa May Alcott

Rising star: Kelly Winnop, principal, Blackstone

Louise May Alcott's literary classic "Little Women" is Kelly Winnop of Blackstone's top pick.

"I was just drawn to Jo's independence, and I enjoyed that it was a book about family," she said.

"Essentialism: The Disciplined Pursuit of Less" by Greg McKeown

Rising star: Lacey Vigmostad Giliberto, vice president, Credit Suisse 

Lacey Vigmostad Giliberto's reading list comprises titles that can help make all of our lives a bit better.

"Essentialism: The Disciplined Pursuit of Less," by author Greg McKeown, is a book that can help people who "feel pulled in multiple directions and can get overwhelmed," Vigmostad Giliberto said, and it helped her to "consolidate and prioritize the activities in my life, and more importantly, the thoughts in my head."

"Why We Sleep: Unlocking the Power of Sleep and Dreams" by Matthew Walker

Rising star: Lacey Vigmostad Giliberto, vice president, Credit Suisse

For those struggling to get in some much-needed rest, Lacey Vigmostad Giliberto recommended "Why We Sleep: Unlocking the Power of Sleep and Dreams" by Matthew Walker."This book explores sleep's impact on your body and mind," she explained.

"Before the coronavirus pandemic, I was a daily 4:30 A.M. workout warrior and advocate for holistic nutrition, but I certainly was not prioritizing sleep in my health equation."
"This was an eye-opening and convincing read," she added," that has helped me to get significantly more shut-eye."

"The Art Spirit" by Robert Henri

Rising star: Alice Leng, vice president and quantitative finance analyst in the data & innovation group, Bank of America

An artist on the side who paints landscapes, Alice Leng recommended Robert Henri's"The Art Spirit" in part because it taught her to respect the flow of nature in her work. 

For Leng, a machine-learning expert in BofA's data and innovation group, favorite quotes include: "Art when really understood is the province of every human being," and "For an artist to be interesting to us he must have been interesting to himself."

"The Sparrow" by Mary Doria Russell

Rising star: Rayhaneh Sharif-Askary, director of investor relations and business development, Grayscale Investments

Rayhaneh Sharif-Askar of Grayscale Investments recommended Mary Doria Russell's "The Sparrow."

"It's this really unique narrative that transcends time and space and involves a story that has extraterrestrial life in it. And also touches on themes of art and spirituality and society and language," Sharif-Askary said.

"A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market" by Ed Thorp

Rising star: Philip Dobrin, senior portfolio strategist, Bridgewater Associates

Senior portfolio strategist Philip Dobrin suggested card-counter turned pioneering quant investor Ed Thorp's autobiography "A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market" and Bill Browder's "Red Notice: A True Story of High Finance, Murder, and One Man's Fight for Justice".

"Reading the stories of great investors is both fun and informative," he said. "What's most interesting is the commonalities you see between the two investors despite radically different approaches and asset classes."

"Foundation" by Isaac Asimov

Rising star: Vlad Moshinsky, director, Miller Buckfire

"There's a lot of game theory involved, analyzing big data to predict outcomes," Vlad Moshinsky, a restructuring banker, told Business Insider about "Foundation" by Isaac Asimov.

"The concepts in that book and trilogy are very relevant today."

"Super Forecasting: The Art and Science of Prediction" by Dan Gardner and Philip E. Tetlock.

Rising star: Rachel Dwyer, principal, Apollo Global Management

Apollo's Rachel Dwyer put forward"Super Forecasting: The Art and Science of Prediction" by Dan Gardner and Philip E. Tetlock, which she read as part of her credit division's book club. 

"We have an Apollo book club. That is one of John Zito's (deputy CIO of Apollo Credit) brainchilds. Most of the people in the group participate in it. It's pretty interesting to read a book a month. We have Zoom get-togethers."

"When Breath Becomes Air" by Paul Kalanithi

Rising star: Shaan Tehal, vice president, Global Technology Investment Banking Group, Morgan Stanley

One of Shaan Tehal's favorite book picks is "When Breath Becomes Air," an autobiography written by Dr. Paul Kalanithi, a neurosurgeon who died at age 37 from stage IV metastatic lung cancer in 2015.

The book was published by Random House after Kalanithi passed away.

Kalanithi wrote "so poignantly and beautifully about the hard questions we should ask about our life and how we live it," Tehal said. "It was a very well-written book around the deeper philosophical thoughts that you should have around life itself."

"Range: Why Generalists Triumph in a Specialized World" by David Epstein

Rising star: Shaan Tehal, vice president, Global Technology Investment Banking Group, Morgan Stanley

Another of Shaan Tehal's suggestions is a book called "Range: Why Generalists Triumph in a Specialized World" by journalist David Epstein; it was released last year.

The book, he said, "looks at the benefits of late specialization and a diversity of experience," and how knowledge in a variety of arenas can pay off "especially when solving complex problems that require creative solutions." 

"Grit: The Power of Passion and Perseverance" by Angela Duckworth

Rising star: Sharo Atmeh, equity analyst, Alyeska Investment Group

"Grit: The Power of Passion and Perseverance" by Angela Duckworth, was the pick Sharo Atmeh of Chicago-based hedge fund Alyeska Investment Group put forward.

He was impressed by how she could identify something as qualitative as "working hard" and dissect it.

"Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers" by Geoffrey A. Moore

Rising star: John Curtius, partner, Tiger Global

Tiger Global's John Curtius suggested"Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers" by Geoffrey A. Moore, which he calls a must-read for any aspiring tech investors

"Catcher in the Rye" by J.D. Salinger

Miles Tobin, principal, Carlyle Group

Miles Tobin, a principal at Carlyle, said he's become more of a listener of books than a reader and that the "Catcher in the Rye", by J.D. Salinger is "one of his older but all time favorite" reads.

Read our full list of the rising stars of Wall Street shaking up investing, trading, and dealmaking.

Or take a look at their best career advice here. 

Local and federal officials in Washington, DC, are taking unprecedented security measures ahead of the inauguration of President-elect Joe Biden and Vice President-elect Kamala Harris on Wednesday. 

While much of the ceremony was already planned to be virtual due to the continued COVID-19 pandemic, the armed and deadly insurrection at the US Capitol on January 6 has prompted increased measures, including the deployment of more than 20,000 members of the National Guard to the nation's capital. DC Mayor Muriel Bowser bluntly requested that people stay out of the city during the inauguration. 

At least five people died as a result of the January 6 insurrection, which was led by supporters of President Donald Trump who believed his baseless conspiracy theory that his loss in the election was the result of widespread voter fraud. There is no evidence to support such a theory.

Read more: Biden's inauguration is raising tens of millions of dollars but won't say how it's spending the money

From the additional troops to the closure of streets in downtown DC, photos show how leaders in Washington are preparing for the swearing-in of the new administration later this week.

At a press conference with DC and federal officials Friday, DC Mayor Muriel Bowser announced new security measures, saying the city found itself in "uncharted waters."

Source: PBS

The Federal Bureau of Investigation has warned of armed protests in DC and in state capitols across the US this week, promoting heightened security nationwide.

Source: Insider

In a briefing with Vice President Mike Pence last week, FBI Director Christopher Wray said the agency saw an "extensive amount of concerning online chatter" leading to the enhanced security.

Source: FBI

On January 13, Bowser requested that a National Special Security Event be declared earlier than is typical for a presidential inauguration.

Source: PBS

Following the January 6 insurrection, a seven-foot, non-scalable fence was added around the Capitol Hill complex. Barbed wire sits atop the fence, providing an additional barrier to entry to the grounds.

Over 20,000 troops in total will be deployed in the nation's capital for the January 20 inauguration. That's more than the number of troops currently serving in Iraq and Afghanistan combined.

Source: USA Today

Road traffic in much of Washington has been halted as officials made the unprecedented move to close streets through Thursday. Four major bridges between Virginia and DC will also be closed to all traffic for 48 hours.

Source: The Washington Post,Reuters

The closures are centered around downtown DC and around Capitol Hill, the Lincoln Memorial, Union Station, the National Mall, and the White House.

Source: The Washington Post \

Parts of Washington looked like a war zone days before the inauguration as members of the National Guard patrolled the city in Humvees.

On Friday, the National Park Service closed the National Mall and other US landmarks in DC to visitors through at least January 21. During typical years, onlookers gather on the National Mall to watch a new president be inaugurated.

Source: Reuters

Much of the inauguration was already expected to be held virtually due to the continued COVID-19 pandemic, but the insurrection prompted heightened security in DC. A rehearsal was pushed from Sunday to Monday, and Biden's planned Amtrak ride from Delaware was canceled.

President-elect Biden plans to be sworn in on the steps of the Capitol, as is customary. US flags can be seen hanging from the building ahead of Biden's swearing-in.

Source: Politico

Airbnb canceled and blocked all Washington, DC, reservations during the week of the inauguration in an effort to discourage people from traveling there for the inauguration.

Source: Insider

Because of the pandemic and the insurrection, the DC mayor has urged Americans to stay home and out of DC during the inauguration.

Source: WTOP

Greenwich, Connecticut, has been one of the most coveted real-estate destinations during the pandemic for wealthy New Yorkers in search of more space.

But one affluent New Yorker —  fashion designer Tommy Hilfiger — is giving up his Greenwich property and moving to sunnier climes. Hilfiger just sold his 22-acre estate for $45 million, after putting it on the market in September for $47.5 million, Sotheby's International Realty told Insider.

Hilfiger and his wife, Dee Ocleppo Hilfiger, bought the property in 2010 for $31.4 million, The Wall Street Journal reported.

The lavish estate includes a 13,344-square-foot main residence built in 1939, rose and water gardens, a swimming pool, tennis court, guest cottage, greenhouse, and detached four-bay garage. Janet Milligan of Sotheby's International Realty held the listing.

Take a look at the property.

SEE ALSO: A Palm Beach mansion on a plot of land that Trump once owned just hit the market for $140 million, and it could shatter the area's real-estate record

NOW READ: Inside the $4,500-a-night Hawaiian estate where the Obamas and celebrities like Angelina Jolie have vacationed

Fashion designer Tommy Hilfiger just sold his 22-acre estate in Greenwich, Connecticut, for $45 million, listing brokerage Sotheby's International Realty told Insider.

"I hear from my friends in real estate that the market is very strong, and it hasn't been this strong in years,"Hilfiger told the Wall Street Journal in September, when he put the property up for sale for $47.5 million.

Indeed, affluent New Yorkers have been moving to Greenwich in droves during the pandemic.

Hilfiger told the Journal that the couple is moving to Palm Beach, Florida, which they had been planning for some time.

The Hilfigers bought the expansive property in 2010 for $31.4 million, according to the Journal.

Hilfiger told the Journal that he and his wife loved the "Old World charm of the house," which was built in 1939. The couple spent three years restoring the historic home.

And it's not the first renovation project Hilfiger has undertaken over the years; he's renovated and sold seven other properties in Greenwich over the past 35 years, per the Journal.

A long driveway and a gated entrance lead to the estate's main residence.

Source: Sotheby's International Realty

The 81-year-old home sprawls over 13,344 square feet and is surrounded by landscaped gardens and hedges.

Source: Sotheby's International Realty

The castle-like home was influenced by English and French design, with turrets, Holland Brick, and granite covered in ivy.

Source: Sotheby's International Realty

The grounds appear to be meticulously maintained.

Source: Sotheby's International Realty

There are sculptural hedges, a rose garden, a topiary garden, and water fountains.

Source: Sotheby's International Realty

The estate sits on the highest point in Greenwich, with views of the Long Island Sound and even the Manhattan skyline, according to the listing.

Source: Sotheby's International Realty

The home was originally designed for real-estate tycoon Charles V. Paterno in the 1930s.

Later, it was the home of financier and art collector Joseph H. Hirshborn.

Inside, the home features six fireplaces and wood paneling.

Source: Sotheby's International Realty

In the reception space, an Elizabethan-style staircase spirals upward in a bay surrounded by windows.

Source: Sotheby's International Realty

The kitchen features a massive center island and an antler chandelier.

Source: Sotheby's International Realty

A formal dining room with wood-paneled walls and ceiling can seat at least 10 people.

Source: Sotheby's International Realty

Another dining nook can be seen with a smaller, round table that seats seven.

Source: Sotheby's International Realty

One room is fashioned as an entertainment area, with a billiards table and seating clustered around a fireplace.

Source: Sotheby's International Realty

Most of the first-floor rooms open up to the outside for an indoor-outdoor lifestyle.

Source: Sotheby's International Realty

There's also a home bar.

Source: Sotheby's International Realty

The master bedroom is home to one of the residence's six fireplaces.

Source: Sotheby's International Realty

The listing photos show a glamorous master bathroom with a massage table ...

Source: Sotheby's International Realty

... and a spacious walk-in shower.

Source: Sotheby's International Realty

The master suite also includes dual dressing rooms.

Source: Sotheby's International Realty

The home theater room was styled with Turkish-inspired finishes, according to the listing.

Source: Sotheby's International Realty

Another room is set up as a children's play room, with a drawing easel and a play castle.

Source: Sotheby's International Realty

The home gym includes weights, a treadmill, exercise ball, and other equipment.

Source: Sotheby's International Realty

The property's outdoor amenities include a resort-like swimming pool and an all-weather tennis court.

Source: Sotheby's International Realty

The property's guest house includes a living room, kitchen, two bedrooms, two baths, and a two-bay garage.

Source: Sotheby's International Realty

A turreted "tea house" has been converted into a security pavilion, per the listing.

Source: Sotheby's International Realty

Hilfiger wasn't the only one to list his massive Greenwich estate during the pandemic.

Last July, the 260-acre Hillandale Estate that straddles both Connecticut and New York hit the market for $49.5 million. And a few months later, a 24-room mansion with a secret tunnel to the pool house listed for $32.5 million.

Even before the pandemic, the Greenwich market had been picking up steam after a several-year slump, Compass real-estate agent Robin Kencel told Mansion Global. In the spring of 2019, a Georgian colonial-style waterfront mansion sold for $48 million. 

The most expensive home ever to sell in Greenwich — and Connecticut — was back in 2014, when the 51-acre Copper Beech Farm traded hands for $120 million.

For women, people of color, and members of the LGBTQ community, the legal industry has historically been a tough place to succeed, with Big Law, the group of top law firms in the country, remaining a "boys' club" for mostly straight white men.

The industry has improved in recent decades in regard to diversity and inclusion: In 2018, minority associate representation increased to 24.2% in law firms, up from 19.5% in 2010, and women have made up about half of law-firm associates for at least a decade, according to the National Association for Law Placement.

But there is still a long way to go: While many law firms tout the racial and gender diversity of their summer associate class and early-career ranks, firm partnerships and leadership teams are still overwhelmingly white and male, and well-known LGBTQ attorneys remain few and far between.

Law firms in the past few years have faced pressure to address these concerns, from clients who want their legal matters staffed with a diverse team to law-school groups demonstrating outside law offices to former attorneys alleging gender and racial discrimination in highly publicized lawsuits. They have also been called on to publicly address important social issues such as police brutality after the killings of George Floyd and Breonna Taylor by police last year.

Read more:2 key steps law firms must take to boost diversity — and how being inclusive can help land major clients like Microsoft

Internally, law firms are now turning to diversity experts as vital members of the management team who can shape firm policy, work with associates from marginalized groups, and ingrain diversity and inclusion into every level of their organizations. Mostly lawyers themselves, these executives are working to make the $795 billion global legal industry a more equitable place.

To recognize the increased importance of these executives, Insider has selected seven of the most influential diversity and inclusion leaders at the country's top law firms. Each was chosen based on initiatives they've spearheaded, conversations with legal-industry experts, and how their current and former firms stack up on industry surveys such as Vault's Best Law Firms for Diversity.

Six of the diversity professionals shared with Insider their unique strategies to diversity and inclusion at a Big Law firm and what they were focusing on in 2021.

Read more:10 diversity leaders who are fighting inequality in corporate America

SEE ALSO: An inside look at how Big Law firm Perkins Coie built up a diverse attorney base, winning major clients like Microsoft and Intel

SEE ALSO: 2 key steps law firms must take to boost diversity — and how being inclusive can help land major clients like Microsoft

SEE ALSO: Rumblings of racism at a famous civil-rights law firm highlight the lack of diversity at the firms that are supposed to fight for the oppressed

Maja Hazell, White & Case's global head of diversity and inclusion, is working to move the conversation beyond just diversity and inclusion to equity and belonging.

It's time for firms to think beyond diversity and inclusion and create a true feeling of equity and belonging within law firms, said Hazell, who spearheaded Fried Frank's diversity and inclusion efforts for more than six years before moving to White & Case in 2014.

The legal industry is still too focused on the idea of meritocracy, where everyone is given opportunities to succeed and the best will naturally rise to the top, she said. But that works only if everyone comes to the table with equal footing, which is almost never the case if you're working to bring a diverse group of people into your workforce.

"You can bring in diverse numbers at the junior ranks and be super inclusive, with initiatives to include them, events to acknowledge who they are, and diversity committees," she said. "But if  you don't feel like you belong in that environment because you don't get certain signals to feel like you belong, you won't feel like you fit in and do your best work."

With Hazell at the helm, White & Case achieved Mansfield Certification Plus status last year, a gold standard in the legal industry that law firms can earn if they have considered women, attorneys of color, people in the LGBTQ community, and lawyers with disabilities for at least 30% of leadership and governance roles, equity partner promotions, formal client-pitch opportunities, and senior lateral positions.'

Read more: Rumblings of racism at a famous civil-rights law firm highlight the lack of diversity at the firms that are supposed to fight for the oppressed

The firm is also one of 10 best law firms for diversity, according to Vault.

Hazell said one thing she was focusing on was teaching leadership and management skills to partners and empowering them to lean into uncomfortable conversations, like the history of slavery in the US and that people in the country are treated differently based on their skin color.

"It's not just including you, it's cultivating a sense of belonging," she said.

Genhi Givings Bailey, the chief diversity and inclusion officer at Perkins Coie, has focused on diverse recruiting and retaining at all levels, which has helped her firm land big clients like Microsoft.

Bailey has helped Perkins Coie win big clients like Microsoft and Intel, which expect their issues to be staffed by a diverse set of professionals, through her efforts to increase the number of diverse attorneys at all levels at the firm.

Microsoft recognized Perkins Coie as the top-performing firm in its 2020 Law Firm Diversity Program and said the firm's partnership was made up of nearly 44% women, ethnic minorities, people in the LGBTQ community, and lawyers with disabilities. This representation is up 10% from five years ago. 

Bailey says she's most proud of the work her firm has done to increase the diversity of lateral hires: In 2018, 58% of lateral hires were women, lawyers of color, and people in the LGBTQ community. In 2020, the percentage grew to 72%.

Read more:An inside look at how Big Law firm Perkins Coie built up a diverse attorney base, winning major clients like Microsoft and Intel

"The other part of that win is that we're starting to see the benefit of that diversity: With critical mass comes more contacts and a better ability to attract and recruit even more diverse talent," she said. "We're increasing our ability to do that outreach and can better attract and retain attorneys by the number of people we're recruiting to the firm now."

Perkins Coie also earned a Mansfield Certification Plus in 2020, which only 67 other firms received.

Going into the new year, Bailey said she was focusing on including law-firm staff, like secretaries, business-side professionals, and paralegals, in diversity initiatives so everyone is represented.

"Law firm DEI initiatives have historically not included staff, which is a missed opportunity," she said.

Anna Brown, Baker McKenzie's global director of diversity and inclusion, says when a firm has offices around the world, it's important to tailor its approach to the needs and cultures of different regions.

With 77 offices in 46 countries, Brown's role at Baker McKenzie extends beyond US issues — even in a year like 2020, when protests over the police killings of Floyd and Taylor grabbed international headlines. She says global diversity and inclusion work isn't one-size-fits-all but that many issues, like gender, race, and doing work to champion underrepresented groups, are experienced worldwide.

"The issues are the same, but how we address them are different because cultures and experiences are different," she said. 

This can be challenging to coordinate, especially after the coronavirus pandemic halted most travel. Brown says it's key to make sure you're not "exporting" US problems and solutions but rather being mindful of regions that have different cultures and contexts for issues to brew. 

"People don't always realize there are D&I discussions happening around the world, so it's important to be a part of what's already taking place," she said.

Her approach has paid off: Baker McKenzie in 2019 was named the best international firm for women in business law for the third year in a row by Euromoney, and the firm achieved Mansfield Certification Plus.

Brown said that as everyone began working from home in early 2020 because of the pandemic, she was proud of the way members of the global mentorship program for younger minority lawyers continued to work with one another and create a "culture of sponsorship" at the firm, even virtually.

"It's important, even during COVID, that we are still reaching out, engaging people, and making sure they are getting good opportunities," she said. "This has helped us be strategic in terms of a good range of work to do, learning, and progressing."

Yusuf Zakir, the chief diversity and inclusion officer at Davis Wright Tremaine, communicates regularly with other D&I professionals and is involved in external organizations, which helps him shape his own work.

Zakir is using his network and experience working at a handful of Big Law firms to drive momentum at Davis Wright Tremaine, where 71% of practice leaders are diverse and half the firm's management committee is minority lawyers.

Zakir, who joined the firm in October from Holland & Knight, recently finished a two-year term for the Association of Law Firm Diversity Professionals, the go-to organization for fellow Big Law diversity executives and a space that fosters communication and collaboration in the industry. He held this role while working full time as a diversity and inclusion professional.

"The organization provides a family of D&I professionals who can rely on one another and support one another," he said, adding that the group shares ideas freely and offers monthly seminars and continuing education opportunities.

"If one of us is succeeding, everyone is succeeding, and this is not a zero-sum game," he said. "We're trying to change the way a profession thinks about these topics and what they commit to."

Zakir says these resources will be crucial to continuing the momentum of Davis Wright Tremaine's diversity efforts: In addition to its share of minority lawyers in leadership positions, the firm earned the Mansfield Certification Plus last year.

Read more:Big Law career guide: The top trends to watch for the legal job market, from what practice areas are faring the best to how they're stepping up on diversity

After seeing what was possible in corporate America, Sylvia James, the chief diversity and inclusion officer at Winston & Strawn, took that blueprint into law firms.

James says law firms are decades behind corporate America in regard to diversity and inclusion. But that has an upside: There are opportunities to see what's already working at large companies and use that knowledge to make law firms a better place.

That's how James approached making the switch in 2006 from being a lawyer in Holland & Knight's corporate-diversity counseling group, where she advised Fortune 500 companies and large organizations, to tackling those same issues for Big Law firms. 

"My approach to law-firm diversity was influenced by the comprehensive ways corporations looked at diversity and the work I did with them when I was still practicing," she said, adding that by working with clients over multiple years, she saw them try different things, adjust their approaches, find what worked, and then see the results of that work.

That got her excited about doing the same thing at a law firm.

Read more:The 25 best large companies for diversity in 2020, according to employees

After nearly 11 years at Baker Botts, where she started the firm's diversity group "without a job description," James moved to Winston & Strawn in 2017 and has since helped the firm promote a new partner class, of which 46% of new partners were women and three were women of color, and recruit a summer associate class where 47% of participants were racially and ethnically diverse and 20% were Black.

"Something I'm most excited about is the strength of our current pipeline and the high-performing, high-potential women and racial-minority associates," she said. "When I think, 'Who's up next?' there's a deep bench of people."

Leslie Richards-Yellen, the global director of diversity and inclusion at Debevoise, has made data a hallmark of her work.

Richards-Yellen has been at Debevoise for only six months, but her work has long caught the attention of recruiters and consultants. Before the move, she was a diversity director at Hogan Lovells for four years, and she was a diversity leader at Hinshaw & Culbertson while practicing full time as a partner for nearly a decade.

Though Richards-Yellen was unavailable for comment, Dustin Laws, a managing director at the recruiting firm Major, Lindsey & Africa, told Insider her hire was "quite a win" for Debevoise and that she and her team at Hogan Lovells were known for taking a data-driven approach to diversity and inclusion.

"It's about looking more holistically and comprehensively at changes that can be made that affect the softer side of how firms operate and engage with clients," he said. He added that while collecting diversity and inclusion data was only a starting point, the numbers were a "means to motivate and change the way a firm thinks."

During Richards-Yellen's time at Hogan Lovells, the firm increased its percentage of female partners globally to 26% and racially and ethnically diverse partners to 12%, according to the firm's website, up from 23% and 8.4% in 2016, respectively.

Additionally, 44% of the firm's new partner class in 2020 were women, and the 2018 summer associate class was 53% racially and ethnically diverse.

Read more:Female partners in Big Law make $332,000 less than male partners on average. But 1 change has been shown to increase women's salaries by more than 40% — and boost their happiness as well.

Kathy Bowman-Williams, the director of diversity and inclusion at Baker Botts, said that years of handling discrimination and harassment claims in corporate America made her passionate about the D&I profession.

Bowman-Williams began working at Verizon in 2006 handling discrimination and harassment matters, and she said the experience introduced her to the diversity profession.

"I ended up in diversity and inclusion because I was young and saddened that my caseload of discrimination and harassment claims continued to grow," she said. "People didn't know how to engage and interact with one another."

Now at Baker Botts, Bowman-Williams says she's most excited about her firm entering a three-year partnership with Official Black Wall Street to provide $10 million in legal services to a network of 5,500 Black-owned businesses. Since moving to the legal industry, she said she found law firms were primarily focused on partners and clients, unlike in corporate America, which has more outward-facing initiatives.

But with partnerships like the one with Official Black Wall Street, which was finalized in September after months of planning following the Floyd protests, she said Baker Botts could be a leader in broadening the way law firms think about diversity and inclusion.

"We could have taken the easy road by making a donation to a legal-defense fund, but we decided to take a stand to see how else we could help the African American community," she said. "This is a commitment that went beyond the idea of 'social justice' and asked how we could help grow and develop a community of individuals."

Bowman-Williams spent eight years as a leader on Verizon's diversity team before moving to Morgan Stanley in 2014 as a vice president of diversity and inclusion. She then headed diversity and inclusion at the law firm Day Pitney for a year and a half before moving to Baker Botts in April 2018.

"It's my passion to support and serve people as well as my organization and make sure people are given the right opportunities and chances to succeed as everyone else," she said.

For restaurants in 2020, the economic impacts of the coronavirus pandemic have upended business models and sunk revenue and profits.  

But for third-party delivery operators like Uber Eats, DoorDash and Grubhub, 2020 was a pretty good year.

Delivery orders more than tripled, representing 10% of transactions compared to 3% two years ago, according to market research firm The NPD Group. Revenue soared and at least one delivery operator, DoorDash, briefly turned a profit during a quarter when most US restaurants were forced to rely on delivery and carryout to survive.

The pandemic highlighted the importance of having a robust digital business and it opened the door for online ordering players to promote their services as an affordable antidote to third-party delivery companies.

Read More: Restaurant insiders say well-capitalized restaurant companies will seek even more M&As in 2021.

New players know they'll never truly beat the big delivery operators on market share, especially amid consolidation in a space that is expected to reach $61 billion in sales in 2023, according to Cowen. Instead, rival services are focusing on niche offerings such as delivering specialty cuisines and meals served by drivers trained like fine dining servers.

"Third party delivery has their hands full because there are simply too many competitors," said restaurant industry consultant Gary Stibel, founder and CEO of New England Consulting Group.

The competition comes as third party delivery conpanies face other headwinds in 2021. 

Temporary commission caps implemented by city and state officials during the pandemic to protect restaurant profits remain intact and could be mandated even in a post-vaccinated world. 

In California, a new law goes into effect Jan. 1 that bans third-party delivery companies from delivering meals from restaurants without consent. The controversial tactic is common among Grubhub, DoorDash and Uber Technologies-owned Postmates. 

Requiring signed agreements is likely to go national.

"We are working on model legislation that makes it very clear that before a restaurant is listed on a platform, there needs to be consent," said Mike Whatley, vice president for state and local affairs for the National Restaurant Association.

The end goal for the NRA and these startups is to give restaurants a fighting chance to survive the aftermath of the pandemic. Here are the companies helping restaurants own their digital sales:

Chowbus

Chowbus was founded by Linxin Wen in Chicago in 2013 after he grew frustrated by the lack of authentic Asian restaurants listed on various delivery apps. 

Wen, who moved to the US from China to study public administration at The Illinois Institute of Technology, did what many frustrated entrepreneurs do when they can't find a product that suits their needs. He created his own company — Chowbus.

In the early days, Chowbus delivered bundled meals from 50 to 100 restaurants to a central point in Chicago. 

Two years later, Wen partnered with friend and software developer Suyu Zhang, who created a sophisticated mobile ordering platform. That allowed the company to expand and nab its first round of seed money in 2018.

Chowbus now has more than 4,000 restaurants on its app from 27 cities in the US, Canada, and Australia. 

Kenny Tsai, chief operating officer, said consumers turn to Chowbus over third-party apps for a few reasons. Chowbus offers authentic Asian meals from independent restaurants not found on third-party apps and features long distance (up to 100 miles) delivery in a few markets including Chicago to Milwaukee; Lansing, Michigan to Ann Arbor, Michigan and Houston to College Station, Texas.

The delivery service also bundles meals so customers can order their favorite milk tea from one restaurant and their ramen from another. The company is getting into Instacart territory by adding grocery delivery, now available in 23 cities. That service, along with long-distance delivery, is expected to expand to new markets in 2021. 

Chowbus did not provide its commission rates to restaurants, but Tsai, who previously worked at Uber Technologies, said the company's fees "are much lower than competitors."

The company shares data with restaurants to help them understand which dishes are top sellers on its network. 

"We're only successful if the restaurants themselves are successful," he said.

To date, the company has raised $68 million with its most recent Series B round of $30 million coming in October. Key investors include Altos Ventures, Left Lane Capital, Hyde Park Angels, Fika Ventures, FJ Labs, Silicon Valley Bank, Meritech Capital and Luxor Capital Group.

Crave Collective

Crave Hospitality Group, which is developing a string of virtual food halls across the US, recently raised $7.3 million in a seed funding round led by StageDotO Ventures

Restaurant delivery is rapidly growing, but the key reason for the investment was Crave's unique hospitality-focused approach, said Mike Self, general partner at StageDotO Ventures.

Crave opened its first virtual food hall, dubbed Crave Collective, in Boise, Idaho, in November. The culinary-focused ghost kitchen facility houses delivery-only restaurants created by well-regarded local and national chefs including World Pizza Champion Tony Gemignani and award-winning chef and restaurateur Michael Mina. 

The company distinguishes itself from other delivery companies and ghost kitchen operators by bundling meals and employing its own fleet of uniformed drivers. Proprietary tech allows customers to mix and match dishes from any of Crave's 16 restaurants.

When drivers deliver food, they make suggestions to customers on what meals or daily specials to try on their next order.

"Crave has brought together a collection of top chefs and restaurateurs on one platform to provide an elevated experience that is well beyond that of third-party delivery companies," Self said in a statement. "The result brings the restaurant dining experience into your living room like never before."  

Though the concept is in its early stages, the white table-cloth approach has helped boost frequency beyond projected expectations, Devin Wade, CEO and co-founder of Crave Hospitality Group, told Insider in a recent interview.

Wade said the group plans to use its recent round of funding to add 10 more Crave-branded virtual food halls by 2022 in rapidly growing cities such as Salt Lake City, Utah; Dallas-Fort Worth area in Texas; and Denver, Colorado.

Lunchbox

As chief marketing officer at Bareburger in New York City, Nabeel Alamgir helped grow the better burger casual dining chain to 50 locations by 2019. 

But expansion came with a few digital growing pains. 

The tech savvy Alamgir said partnering with third-party delivery companies led to injustices as they skimmed profits away from restaurants with high commission fees and denied restaurants access to consumer data. 

So passionate about developing alternatives to third-party delivery companies, Alamgir left Bareburger in 2019 to help launch Lunchbox. The startup provides independent restaurants and small chains, who can ill-afford their own I.T. department, the tools to grow a healthy digital business.

Lunchbox's platforms look to emulate restaurant tech pioneers such as Sweetgreen, Panera Bread and Chipotle Mexican Grill – chains at the top of their game when it comes to owning their digital sales, Alamgir said.

Lunchbox's omnichannel services include online ordering, loyalty programs and email marketing for clients looking to build relationships with customers.  Clients, which include restaurants by David Chang, pay anywhere from $200 to $300 per month. 

Alamgir's latest experiment to lure consumers from third party companies has emerged in recent weeks.

Lunchbox is testing "mini-marketplaces" to promote delivery for multi-unit restaurant operators. The company has developed a white label delivery app for Sam Nazarian's C3, or Creating Culinary Communities.

The new division of SBE Entertainment Group is an incubator for direct-to-consumer concepts including delivery only restaurant brands and ghost kitchens.  C3's Lunchbox-created marketplace bypasses third party delivery apps by creating one-stop shopping for C3's portfolio of brands.

Innovation like this has caught the eye of big investors. In late October, Lunchbox raised $20 million in a Series A round led by New York-based Coatue, an investor in DoorDash. Other investors participating in the round include celebrity chef Tom Colicchio, former Venmo executive Michael Vaughan, HelloFresh founder Bryan Ciambella, Planet Hollywood founder Robert Earl, and Girls Who Code founder Reshma Saujani. 

Slice

After rebranding four years ago and launching its own app, Slice has grown from serving 4,000 pizzeria locations to 14,000 in 2020 — that's about 3,000 short of the number of Domino's restaurants around the globe.

Ilir Sela founded the company a decade ago to help family members who owned pizzerias in New York to compete in the digital world. That mission remains Sela's number one priority: Working side-by-side to help entrepreneurs grow their business.

"Our job is to be the first-party partner," he told Insider. Slice gives pizza operators the tools to run their e-commerce business by handling everything from online orders to digital marketing. Unlike third-party delivery companies that don't share consumer data, Slice provides customer data and insights to operators so they can optimize sales.

"We are actually an extension of their business," Sela said. "We share the responsibility and growth." 

The company, which added about 2,000 restaurants since late spring, doesn't nickel and dime operators for its services, like charging a premium for priority placement on its app, a common third-party delivery practice. Slice, instead, charges a flat fee of $2.25 per order, whether it's one pizza ordered from the Slice app or 10 pizzas ordered from a restaurant's website.

That's equivalent to Slice taking about a 6% cut, based on the average order size of $37, Sela said.

"Compare that to 30% to 40% on third party aggregators, and you can see how that difference adds up pretty quickly," he said, adding that the Slice over the years has saved restaurants about $200 million. 

Sela has started using Slice's large network as buying power to help reduce supply costs for clients. By negotiating with various pizza distributors, Slice restaurants are now getting pizza boxes at a lower cost. 

In 2021, he plans to accelerate using Slice's scale to get more benefits for restaurants. In December, he also launched an accelerator program where Slice provides $15,000 worth of services to a group of local pizzerias to ensure they are "pandemic-proof" in the future. 

Toast

Restaurants weren't the only companies forced to shift business models during the pandemic. 

Toast, a $5 billion developer of state-of-the-art restaurant POS systems commonly found at emerging US restaurants, had just raised $400 million in a Series F funds in February 2020 when it was forced to reduce its workforce by 1,000 in April due to the pandemic.

The company quickly moved to expand and offer more relevant services to restaurants including pitching itself as an alternative to third-party delivery companies. In late April, during the peak of the pandemic when restaurants relied solely on off-premise sales to survive, the company debuted Toast Delivery Services.

It allows restaurants to offer on-demand delivery "free of unpredictable, high-percentage commissions," the company said at the time. 

Instead of charging a commission fee, Toast charges a flat rate of under $8. Restaurants are not required to use Toast POS systems to use Toast Delivery. All guest data is captured and given to restaurant owners. 

In contrast, third-party delivery companies charge a commission rate, sometimes as high as 30 to 40%, for delivery. That fee includes placement on their marketplace, and last-mile delivery. Most delivery companies also don't share consumer data.

When compared to fees charged by delivery aggregators, Toast estimates that a restaurant processing $5,000 in delivery can save about $600 per month by using its delivery program.

The company, founded in 2013 to democratize technology for restaurants and consumers, also introduced in late April a suite of online and app-based ordering tools offered to restaurants commission-free. Third-party delivery operators, by contrast, still charge restaurants a fee for pickup orders processed through their systems. 

Aman Narang, president and co-founder of Toast, said the delivery and online ordering tools give restaurants control of the guest experience so they "can thrive when the industry begins to recover."

The global digital health sector has unsurprisingly boomed amid the ravages of the coronavirus pandemic, with companies and consumers increasingly seeking out alternatives to in-person services.

Investors too are pouring more money into the space. One recent beneficiary is Hinge Health, which raised $300 million earlier in January to become the most highly valued private healthtech in the US, the company said. 

The Series D round was jointly led by private equity giants Coatue Management and Tiger Global and raised the valuation of startup to $3 billion, according to Hinge Health's announcement.

The San Franc iso-based startup offers a digital clinic for musculoskeletal (MSK) pain and is available to more than 300 enterprise customers in the US. The company's customer base tripled and revenue quadrupled in 2020, according to Hinge Health's CEO Daniel Perez. 

"It was a very interesting year for us — in March every investor was concerned due to the pandemic, but we decided to stay the course," Perez told Insider in an interview. "We knew there would be a counter revolution after a five or so week period where people weren't answering the phone. We said, 'If we can overcome this and execute we will win'  — and we were one of fastest growing companies in tech last year."

The startup, founded in 2015, avoided layoffs or salary cuts and continued to hire last year. This new fundraising will help Hinge Health continue on its growth trajectory, with its current 550 headcount likely to double by the end of 2021, Perez said. The company was named as a healthtech company changing the industry recently.

Amid a crazy year for IPO listings in the US, and a likely continued surge into 2021, Hinge Health is primed for a debut on the public markets. 

"There was enormous investor interest when we opened the round — within 24 hours we had more than $400 million in commitments," Perez added. "They [Coatue and Tiger Global] are the two best funds for a pre-IPO round, it's very rare that they co-lead the same round."

The two private equity firms' involvement continues a trend of major hedge funds and private equity piling into late stage startups. 

Existing investors Atomico, Insight Partners, Quadrille, 11.2 Capital, Lead Edge Capital, Bessemer Venture Partners, and Heuristic Capital also participated in the funding round. Hinge Health has raised just over $426 million in total, according to Crunchbase.

Read more: Investors are pouring cash into mental health startups during a rough 2020. Here are 19 to watch, picked by top European VCs.

Despite the obvious incentives provided by public markets to buzzy startups, Perez claims that the company's growth path is "laser focused" on growing its digital clinic for MSK.

"There is no pressure to IPO soon," said Perez. "We're hoping to be in a position to go public, or whatever, in 2022."

To put Hinge Health's rise into context, the company's previous funding round (a $90 million fundraise in February 2020) valued the business at $428 million, one-sixth of the most recent valuation.

Perez said there's still ample opportunity to grow further. "Healthcare is one-sixth of the US economy and around one-fifth of that is related to MSK," he said. "That's around 3% of [gross domestic product] so it's a huge area of spend to disrupt."

Check out Hinge Health's pitch deck below: 

SEE ALSO: We asked 12 prominent European tech investors to pick out fintech startups they think will blow up in 2021. Here are the 20 they chose.

Zhong Shanshan has had quite a year.

Last January, he was already a billionaire, worth around $7 billion. But in 2020, the Chinese businessman's wealth soared by tens of billions, making him one of the richest people in the world in a matter of months.

In September, Zhong made headlines for becoming richer than Alibaba founder Jack Ma and therefore the wealthiest person in China. By the end of December, the 66-year-old's fortune had swelled by another $17 billion, making him the richest person in all of Asia. Zhong's net worth peaked at $95 billion in early January and now sits at $84.7 billion, according to Bloomberg's Billionaires Index. He trails Warren Buffett by just a few billion.

Zhong is the chairman of two companies: bottled water company Nongfu Spring and vaccine maker Beijing Wantai Biological Pharmacy Enterprise. In 2020, Zhong took both companies public and grew his fortune by more than $70 billion.

Zhong's wealth surpassed Asia's previous richest man, Indian businessman Mukesh Ambani, who runs one of India's largest conglomerates. Ambani, who's worth $74.7 billion, and his family are known for their lavish lifestyles. They live in an outrageous $1 billion skyscraper home and rub shoulders with the likes of Hillary Clinton and Beyoncé, who performed at Ambani's daughter's wedding in 2018.

Asia's new richest man, on the other hand, tends to fly under the radar. Zhong is known as the "Lone Wolf" because he's not involved in politics and he rarely makes public appearances or speaks to the media, according to Bloomberg. And very little is known about his personal life, with no reports of lavish spending habits. 

Here's what we know about the lifestyle of Zhong Shanshan, the mysterious billionaire who's now richer than anyone else in Asia. 

SEE ALSO: Meet the Ambanis, India's richest family, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars

DON'T MISS: Inside the luxurious Swiss Alps resort where Asia's richest family reportedly stayed during the pandemic, a wellness retreat where suites cost up to $46,000 a night

Zhong Shanshan is Asia's new richest person, with an estimated net worth of $84.7 billion.

That makes him the seventh-richest person in the world, right after Facebook's Mark Zuckerberg and legendary investor Warren Buffett (although he was briefly richer than Buffett), according to Bloomberg's Billionaires Index. He's richer than the cofounders of Google.

Zhong is the chairman of two companies: bottled water company Nongfu Spring and vaccine maker Beijing Wantai Biological Pharmacy Enterprise, which makes COVID-19 test kits and is developing a vaccine for the virus. Together, the two companies reported more than $3.6 billion in revenue in 2019. 

In 2020, Zhong took both companies public and made more than $70 billion, according to Bloomberg.

Beijing Wantai Biological Pharmacy Enterprise — which is in the process of developing a COVID-19 vaccine—went public on the Shanghai Stock Exchange in April. 

And in September, Nongfu Spring's $1.1 billion initial public offering in Hong Kong made Shanshan China's third-richest person overnight. His net worth skyrocketed from around $16 billion to more than $50 billion.

Most of Zhong's wealth comes from his bottled water company, of which he owns an 84% stake, according to Bloomberg. He owns 75% of Beijing Wantai.

In December, Zhong surpassed Indian businessman Mukesh Ambani to become the richest man in Asia.

Ambani, the chairman of Reliance Industries, a conglomerate that spans industries from energy to telecom, was Asia's richest man for about two years. But as of mid-January 2021, Zhong is now worth $10 billion more than Ambani.

With his $74.7 billion net worth, Ambani remains the richest person in India and the 12th-richest in the world.

Zhong's lifestyle couldn't appear to be more different from Ambani's. Just take a look at where the two billionaires choose to live.

Ambani famously lives in a 27-story skyscraper in Mumbai with his family that has three helicopter pads and underground parking for 160 cars and attracted a frenzy of international media attention when he finished building it in 2010.

Jack Ma, who was previously China's richest man, has also drawn attention for his exorbitant real-estate purchases like a $23 million estate in upstate New York and a rumored $191 million mansion in Hong Kong.

But Zhong, who is now wealthier than both billionaires, has never splashed out on real estate.

He lives in Hangzhou, a city of about 10 million people in eastern China that's known as a trading hub as well as for its scenic landscape. The city was home to at least 32 billionaires as of 2016— including Jack Ma — according to CNN Business.

Zhong lives in an apartment in Hangzhou's Xihu district, which borders the city's scenic West Lake, according to Nongfu Spring's public offering prospectus.

The district is a leafy residential neighborhood about four miles from the skyscrapers of Hangzhou's central business district, according to Google Maps. The headquarters of Zhong's bottled water company, Nongfu Spring, is about a seven-minute drive away, and Jack Ma's Ant Group headquarters are also nearby. 

Zhong's pharmaceutical company, Wantai Beijing, is much farther from his home, with headquarters in the Changping District of Beijing.

Changping is "the high-tech and science base of Beijing," according to Travel China Guide.

Zhong is known in China as the "Lone Wolf" because he's not involved in politics or business groups, per Bloomberg.

He rarely makes public appearances or speaks to the media, according to Chinese publication The Paper.

"I am a solitary person, and I don't care what my colleagues are doing or thinking," Zhong once said, according to the Paper.

Ambani, on the other hand, has been photographed at countless events and is known to rub shoulders with Bollywood stars and former Secretary of State Hillary Clinton. He reportedly spent $100 million on his daughter's extravagant wedding, where Beyoncé gave a private performance.

Perhaps Zhong's solitary nature has to do with his humble roots.

Before he made his fortune, Zhong dropped out of elementary school and spent some time as a construction worker before working as a newspaper reporter in the 1980s, per Bloomberg.

Zhong joined the Zhejiang Daily in 1983, where he covered agriculture. After about five years, he started to attempt varying business ventures: founding a private newspaper, growing mushrooms, and selling curtains, according to French newspaper Le Monde.

He later founded the pharmaceutical company Yangshengtang Co., Ltd, which is today the holding company of Beijing Wantai. And in 1996, Zhong founded Nongfu Spring and today directly manages the company's sales, branding, and human resources as executive chairman, according to his corporate biography.

Very little else is known about Zhong's personal life. Nongfu Spring's public offering prospectus revealed, however, that several of his family members hold stakes in the bottled water company.

That includes Lu Xiaowei, his wife's older sister, who owns 1.4% of Nongfu Spring that's valued at $432 million, according to Bloomberg. Two of his wife's other siblings own shares worth $428 million each. And Zhong's sisters, Zhong Xiaoxiao and Zhong Xuanxuan, together own $642 million worth of shares.

Zhong's son, Zhong Shu Zi, is listed as a non-executive director of the company. The China Daily reports that Zhong has two other children. 

In January 2021, Zhong left the board of his pharmaceutical company Beijing Wantai for "personal reasons," according to Bloomberg.

Spokespeople for Zhong's companies did not respond to Insider's request for comment for this story. 

Despite the toll that the COVID-19 pandemic took on the healthcare system in 2020, primary care company Aledade experienced its biggest year of growth yet.

The seven-year-old startup, which helps independent primary care practices and clinics get paid based on how well they take care of patients, now works with about 800 practices in 31 states, up from about 555 practices in 27 states a year ago.

Those practices manage the care of 1.2 million patients under contracts set up by Aledade. At this time last year, Aledade's practices managed 840,000 patients in the contracts.

"As we have had more and more success in getting payments to practices, we're now able to pull in even the skeptics," Aledade CEO Dr. Farzad Mostashari told Insider.

Aledade's growth shows no signs of slowing. The company said Tuesday that it raised $100 million in a Series D funding round led by Meritech Capital, bringing its total funding to $306 million. Tiger Global Management, IVP, and OMERS Growth Equity also contributed.

The latest round values Aledade at $2.1 billion, according to sources close to the deal.

Aledade is planning to expand into more states while growing its footprint in Medicare Advantage

Mostashari said the company will use the funds to expand into new states and invest in its technology so it can support primary care practices with better data and analytics.

It's also planning a big expansion in Medicare Advantage, a red-hot insurance market that's growing fast as more seniors turn 65 and become eligible for the program, which is a private alternative to traditional Medicare. 

Aledade expects to collect $285 million in revenue in 2021, an increase of more than 50% from a projected $185 million in 2020, according to the company. The company said it reached profitability in 2020.

A few primary-care startups, including One Medical and Oak Street, have recently gone public. Mostashari said Aledade has a lot of growth ahead of it. While he could see his company going public, he's not in a rush.

"We'll do it the right way and we'll do it at the right time," he said.

Read more: Oscar Health has confidentially filed to go public. Here's a look at how the health insurer and rivals Clover and Bright have fared so far this year.

How Aledade works with independent primary care practices

Aledade wants to transform how primary-care practices are paid. The idea is that investing in more and better primary care will lead to lower healthcare costs down the line.

The company doesn't build clinics or provide care, like primary-care startups Iora Health or Oak Street Health.

Instead, it helps primary care providers enter into and succeed in contracts with Medicare or commercial insurers, like Humana and the Blue Cross and Blue Shield companies, in which doctors become responsible for the cost of their patients' care.

Under those contracts, if the primary-care practice cares for the patient so well that the patient's care costs less than what was expected, the doctor gets a portion of those savings. Aledade and the health plan also get a cut.

Traditionally, healthcare providers have been paid based on how many patients they can get in the door and how many services they can provide. Providers are increasingly experimenting with other ways to get paid, and the federal government has encouraged alternative payment models, but progress has been slow.

Aledade gives primary-care practices technology to help improve patients' health outcomes and lower their costs. It equips them with the data and insights needed to reach out to high-risk patients and follow up after hospital or ER visits so the doctor can prevent future visits.

Aledade's investors say the company has a proven, scalable business model

Aledade's model is working: To date, the company said its practices have received more than $115 million in revenue from the savings they've achieved.

Craig Sherman, the general partner at Meritech who led Aledade's latest funding round, said the startup has proven its ability to improve patients' health and help doctors keep their independence. Moreover, it can grow quicker than other primary-care startups that are building clinics from scratch.

"It's far more scalable, it can grow radically faster than the others and be much more capital efficient, and when we saw the patient outcomes were as extraordinary as they are, we decided to double down," Sherman said.

Here's the pitch deck that convinced Sherman and other firms to invest $100 million into Aledade. Aledade omitted some slides that contained confidential information. 

This article has been updated to change Aledade's valuation from $2.2 billion to $2.1 billion based on new information from a person close to the deal.

Aledade kicks off the presentation by introducing its mission, which is to scale better primary-care across the country.

Before starting Aledade, Dr. Farzad Mostashari was the national coordinator for health information technology at the Department of Health and Human Services. Before that, Mostashari led an effort in New York to bring electronic health records to providers in underserved communities.

Aledade lays out the state of healthcare in the US, where spending has reached $3.8 trillion, and an estimated $1 trillion of that spending is waste. Most healthcare providers are paid based on how many patients they can get in the door.

Aledade explains its business model: the start-up helps independent primary care practices enter into and succeed in contracts in which they are responsible for a patient's cost of care. Unlike competitors, it doesn't build or buy clinics, and it works with both Medicare and commercial insurers.

The startup's business model is built on the belief that more and better primary care will lead to lower healthcare costs.

Aledade equips primary-care practices with technology and on-site coaching to help them succeed. It partners with nearly 800 practices with more than 7,800 providers in 31 states. Those practices manage 1.2 million patients in Aledade contracts, about half of whom are covered by Medicare, while the other half are in commercial contracts. Aledade's practices serve about 100,000 Medicare Advantage members under the contracts. The company provided updated figures that differ from the presentation.

Aledade's leadership team boasts extensive experience in healthcare policy and health IT. "They keep improving the team, adding more and more impressive team members," Meritech's Sherman said. "It's rare, and it's a good sign."

Aledade's board is chaired by Dr. Bob Kocher, a partner at Venrock who served in the Obama administration on the National Economic Council. The startup's big investors include Venrock, ARCH Venture Partners, GV, Meritech, and OMERS Growth Equity.

Aledade's technology platform provides clinicians with health record and medical claims data and insights so they can take better care of their patients and keep them out of the hospital.

To keep patients out of the hospital, Aledade focuses on four key areas with medical providers: access and prevention, follow-ups to ER visits, care for patients after they leave the hospital, and letting the providers know about potential gaps in quality.

Aledade helped 150 practices launch telehealth over one weekend during the early days of the pandemic, when patients weren't able to see doctors in person, Mostashari said.

Aledade gets paid only when its primary-care practices succeed at lowering costs. When patients' costs end up lower than a pre-set benchmark, the health plan, primary-care doctors and Aledade share in the savings.

Aledade and its practices split $400 to $750 for every $1,000 dollars they save through better care.

The company's primary-care practices currently manage about $12 billion in healthcare costs, up from more than $7.5 billion a year ago.

Aledade's networks of independent primary care practices formed in 2016 have reduced ER visits and hospital visits, scored high on quality measures, and saved Medicare millions.

Those networks of practices have shown that spending more on primary care leads to fewer ER visits, hospitalizations and nursing home stays.

The networks of doctors formed in 2016 received $25.1 million in payments in 2019 under Aledade contracts, while Aledade made $19.8 million in revenue.

Aledade has driven more revenue by recruiting practices, striking up more health plan contracts, and getting better at lowering costs. Its practices are also taking on more responsibility for patients' total cost of care.

Mostashari said Aledade's model is easier to scale than its competitors who build new clinics from scratch. The company aims to transform thousands of primary-care practices.

Aledade wraps up its presentation by explaining the huge opportunity that primary-care practices have in entering contracts that reward them for keeping patients healthy. Aledade says it has a lot of growth ahead, as it's only tapped into a "tiny portion" of the market so far.

President Donald Trump's last days in office have been historic: he tried multiple times to overturn his election defeat, his supporters stormed the Capitol in protest of the results, he was impeached over inciting the violent mob, and he's hit his lowest approval rating— all amid a pandemic that has robbed nearly 400,000 Americans of their lives.

The chaos wraps up an already-tumultuous term personified by broken traditions, from declining to release his tax returns, to regularly firing his administration officials and cozying up with foreign dictators, to name a few. 

White House photographers are tasked with capturing the behind-the-scenes moments that define a presidency: the highs, the lows, and everything in between. Pete Souza, former President Barack Obama's photographer, for example, managed to get up close and personal with the former leader.

Americans have mostly viewed the Trump administration through the lens of uncredited pictures posted on his now-suspended Twitter account, staged White House photo-shoots, and the award-winning shots by journalists who have followed him over the past four years.

Insider poured through these galleries and rounded up some of the most wildly memorable and candid images of the outgoing president:

His taped tie

Telling photos of then-President-elect Donald Trump trickled in even before he was sworn in. In this scene, Trump made headlines for his taped tie.

The dismissal of James Comey

"He's become more famous than me," Trump joked when embracing former FBI director James Comey, during his first days as president. Their relationship soured after Comey led the investigation into whether Trump's 2016 campaign colluded with Russia.

Trump abruptly announced he was firing Comey with a tweet in May 2017.

The original White House staff

Before he was commander-in-chief, Trump gained stardom for his "you're fired" catchphrase on his TV show, "The Apprentice." That pattern of firings continued under his presidency, when he purged officials he deemed disloyal, or let go of close advisers who later pleaded guilty in federal court.

The glowing orb

This viral moment from 2017 showed Middle East leaders touching a glowing globe as part of a commencement ceremony for a new anti-extremism center in Saudi Arabia.

Meeting with Pope Francis

During his trip to the Vatican, Trump gifted Pope Francis a collection of books written by Martin Luther King Jr. 

Relationship with Russia's Vladimir Putin

Trump's relationship with Russian President Vladimir Putin has been under scrutiny throughout his presidency. "It's an honor to be with you," Trump said during their first-ever meeting at the G20 summit in Germany.

"Made in America"

Trump, echoing his campaign promises, held several events at the White House celebrating America's innovations in production.

Looking at the sky during a solar eclipse

Trump briefly glanced up at the sky during a solar eclipse, which can cause eye damage without eye protection, even after an adviser warned him not to look.

The kid who mowed the White House lawn

"It would be my honor to mow the White House lawn some weekend for you," 11-year-old Frank wrote to Trump. 

Paper towels for hurricane victims

Trump defended throwing paper towels to Puerto Ricans affected by Hurricane Maria, calling the criticism "a made-up thing." 

Slashing the red tape — literally

After Trump announced that he was slashing government regulations, he stood in front of a huge stack of papers and literally cut the red tape. 

The wall

Trump campaigned on building a controversial border wall along the US-Mexico border. But the prospects of the grand scheme fizzled out over the years, and much of its construction has yet to materialize.

"America First"

Trump strained US relations with many international allies when he committed to an "America First" approach to foreign policy.

Trump's meet-and-greets

Two years after their meeting at the White House, rapper Kanye West withdrew his support for Trump and announced his own bid for the presidency in July 2020.

"Fake News" fiasco

Trump has endlessly launched attacks against the media and journalists over the past four years. 

Holiday celebrations

During a Christmas Eve call to children, Trump asked a seven-year-old girl if she still believed in Santa. "Are you still a believer in Santa Claus," Trump asked. "[Because] at seven, it's marginal, right?"

Fast-food at the White House

Trump started his owntradition of serving fast food at the White House to college championship teams. 

State of the Union showdowns

House Speaker Nancy Pelosi's clap during his State of the Union speech exploded the internet with memes.

The Trump-Kim talks

Trump became the first sitting president to ever set foot in North Korea during a hastily-scheduled meeting with leader Kim Jong Un in 2019.

Trump v. Pelosi

Trump tweeted a striking photo accusing House Speaker Nancy Pelosi of having an "unhinged meltdown," though Democrats quickly came to her defense and praised her for standing up to the president.

Sharpie-gate

Trump incorrectly stated that Hurricane Dorian would impact Alabama during a press conference. Although the National Weather Service also shut down his claim, Trump repeated the mistake by displaying an altered map at a press conference.

The US raid that killed ISIS' leader

Trump was criticized for appearing to stage a photo while watching a military operation that resulted in the successful killing of ISIS leader Abu Bakr al-Baghdadi. 

Impeachment

"I want nothing," Trump's notes from his impeachment inquiry said. "I want no quid pro quo."

"Vindication"

Following Trump's impeachment in December, the Senate voted to acquit him of the two charges: obstruction of Congress and abuse of power. 

Black supporters

Trump has repeatedly declared that he has "done more for the Black community than any other president," excluding President Abraham Lincoln, a claim his critics have criticized and described as outrageous and far-fetched.

Dr. Fauci's facepalm

The US's top infectious disease expert, Dr. Anthony Fauci, broke his composure when Trump went off-script to speak about the "Deep State Department" during a COVID-19 briefing in the early days of the pandemic.

Campaign rallies during the pandemic

Trump traveled to multiple states a day as he hosted campaign rallies during the pandemic in the lead-up to the 2020 presidential election. 

Racial unrest

Trump did not immediately address the nation publicly as protests erupted across the country following the police killing of a Black man, George Floyd. Protesters who descended on Washington, D.C., were met with law enforcement officials and military helicopters.

"Law and order"

Trump held a Bible in front of a church near the White House, after federal officers cleared the streets of mostly peaceful protesters for with tear gas and batons. The alleged photo-op shown live by some TV channels was widely denounced by religious leaders, given the racial tensions at the time.

Trump's former defense secretary, Jim Mattis, broke his silence to condemn the clearing of protesters by force and the president's rhetoric against protests generally as making "a mockery of our Constitution."

Embrace of Evangelicals

Trump frequently touted his support and appreciation of Evangelical Christians, who are predominantly white, despite the claims from former associates who suggest otherwise.

The media interviews

Axios correspondent Jonathan Swan had mixed expressions to Trump's comments during a wide-ranging interview that became an online sensation.

Trump and COVID-19

Trump temporarily left the hospital where he was receiving treatment for the coronavirus to wave at supporters in a presidential motorcade. He was condemnedfor risking the health of his Secret Service agents.

Lying about the election

As the ballots were tallied after Election Day, Trump began alleging rampant fraud and inconsistencies with the election process. His campaign launched a bevy of lawsuits that relied on little to no evidence, all of which have so failed in courts.

Golfing

After the 2020 election loss that Trump still refuses to acknowledge, the president spent many of his remaining days as commander-in-chief at the golf course. According to a database of his public schedule, the outgoing president has made 321 golfing trips over his 1,148 days in office.

Capitol riots and impeachment

Trump's speech to his supporters shortly before they violently stormed the Capitol on January 6 will take center-stage during his upcoming impeachment trial in the Senate. The House impeached Trump on January 13 for incitement of insurrection — making him the first president in US history to be impeached twice. If convicted, Trump could possibly be barred from running for office ever again. 

After laying low for nearly a decade, the electric-vehicle startup Rivian made waves in 2018 after showing off its debut vehicles at the LA Auto Show. Since then, the company has raised more money than any EV startup that hasn't gone public and signed deals with Amazon and Ford to supply them with delivery trucks and an EV platform, respectively. On Tuesday, Rivian announced its latest funding round, a $2.7 billion haul led by T. Rowe Price.

Whether Rivian can live up to the hype will become clearer later this year when the company starts production of its R1S SUV and R1T pickup truck. In the meantime, managers at three of Rivian's investors — T. Rowe Price, Abdul Latif Jameel, and Soros Fund Management — told Insider why they're betting on the company. 

Here's what they said.

Are you a current or former Rivian employee? Do you have an opinion or news tip you'd like to share? Contact this reporter at mmatousek@businessinsider.com, on Signal at 646-768-4712, or via his encrypted email address mmatousek@protonmail.com.

SEE ALSO: The CEO of EV charging company ChargePoint reveals its plans for expansion after raising $127 million in fresh funding

"They've got every detail dialed in."

An investor in Tesla, T. Rowe Price has been looking for EV companies with similar potential and was impressed by Rivian's technology and management, said Joe Fath, a portfolio manager at the financial-services firm.

"They're keeping their head down, and they're focused on building a real, durable business over time," he said.

The centerpiece of Rivian's tech is its EV platform, which includes its motors, suspension, and battery pack. Rivian says that platform will help the R1S and R1T achieve ranges of up to 400 miles or more between charges, up to 750 horsepower, and the ability to accelerate from 0 to 60 mph in three seconds. But strong performance is only part of the platform's appeal, Fath said. It's also at the center of Rivian's deals with Amazon and Ford, which plans to use the platform in one of its own vehicles.

That two-sided business model, as well as the company's financial resources and relative maturity, separate Rivian from its startup competitors in the EV industry, Fath said. According to Pitchbook, Rivian has raised $6 billion since it was founded in 2009. That's more than any other EV startup that hasn't gone public.

But Fath said the excitement Rivian has generated in its pre-production stage hasn't inflated the egos of its management team, which is led by CEO RJ Scaringe. Scaringe and Rivian's other executives are thoughtful, humble, and detail-oriented, Fath said; they understand where innovation can give them an edge (vehicle technology) and where it's better to follow the auto industry's best practices (manufacturing). And, Fath said, if you ask them a question about a specific number in their financial projections, they'll be able to explain it in detail, in contrast to the many companies that are less rigorous about their financial modeling.

"They've got every detail dialed in," he said. 

While it remains to be seen if Rivian can handle the challenges of automotive production, Fath believes Rivian and other EV companies could eventually become more profitable than traditional automakers since EVs have fewer components than gas-powered cars, and EV companies don't have the expensive labor commitments some legacy automakers have built up over time.

"Once they reach scale," Fath said, "Tesla, and Rivian coming behind it, will have better margin structures than the traditional OEMs and better returns on invested capital."

"He continues to impress me every day."

The R1T and R1S will fill a hole in an EV market that doesn't yet have many SUVs and pickup trucks, Hassan Jameel, the deputy president and vice chairman of Abdul Latif Jameel's Saudi Arabia division, said in an email. 

Abdul Latif Jameel was one of Rivian's earliest backers, first investing in the company in 2012. It saw in Rivian the possibility of major innovation.

"Taking the time to really understand the automotive manufacturing process allowed us to recognize Rivian's ability to create efficient and agile processes alongside cutting-edge technologies, which we believe have the potential to transform the industry," Jameel said.

Like Fath, Jameel praised Scaringe, citing his deep understanding of the auto and energy industries, long-term perspective, and humility.

"When I first met RJ in 2011, he was a 28-year-old entrepreneur who stood out as extremely knowledgeable and capable," Jameel said. "He continues to impress me every day."

A unique driving experience.

A representative for Soros Fund Management said in an email that while the investment firm believes the EV market will grow large enough to support many companies, Rivian's vehicles offer a unique driving experience. The representative also highlighted Rivian's partnership with Amazon, saying it will demonstrate the financial and environmental advantages of EVs for fleet operators.

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• Upcoming electric pickups promise everything from bulletproofing to onboard fridges — here's what to expect from Tesla, Rivian, and others
• Investors like Amazon and BlackRock are betting these 10 EV startups have the best chance of becoming the next Tesla
• Tesla, Nikola, Rivian, GM, and more are set for a battle over the huge new demand for electric trucks, buses, and vans

Drake owns a Richard Mille worth $750,000. Justin Bieber has an Audemars Piguet worth $50,000. And Jay-Z has a Patek Philippe worth at least $2.2 million. 

They're watches, of course. 

High-net-worth-individuals have been buying high-end watches for years, but the trend has accelerated along with so much other spending at the upper end during the pandemic.

For example, the Sotheby's Important Watches live auction concluded Tuesday and brought in $10.4 million— a 27% increase from last year — with a Patek Philippe Ref 2499 retailed by Tiffany & Co. selling for $818,600. A Cartier Ecran Mystery Clock went for $564,500, while a Rare Salmon Dial Audemars Piguet Royal Oak sold for $441,000. 

New watches can be very pricey and collectible, but vintage watches are the ones that almost dominate the watch sector. In fact, secondhand watch sellers are almost as popular as the auction houses that sell blue-chip artwork, and the websites that resell Birkin and Chanel bags. 

According to Deloitte's 2019 "Global Powers of Luxury Goods" report, the average annual sales made by the top 32 watch and jewelry companies topped $2 billion in 2017, but a 2018 Bain report stated that the secondhand market was worth nearly $25 billion, with watches and jewelry making up over 80% of all secondhand market purchases. 

As for where to look in secondhand? There are certain stand-out names.

"Brands like Rolex, Patek Philippe, and Audemars Piguet are controlled by families and not investors," Tim Stracke, CEO of the watch resale site Chrono24, told Business Insider earlier this year. "They have limited their supply for more than a century. They have a super long-term view and they value brand reputation higher than short term profits. This will very likely prevail for future generations and keep the value of their watches up."

Business Insider spoke with three watch experts to find out which watches are the best to invest in, and which ones they would recommend to those looking to start (or expand) their watch portfolios. The list includes both new and secondhand watches. Keep reading to find out the 11 stand-out watches they recommend. 

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Business Insider spoke with three watch experts to see which watches they would recommend for those looking to invest.

The experts Business Insider spoke to all recommended the same brands: Rolex, Patek Philippe, and Audemars Piguet. These brands, in addition to Richard Milles, are synonymous with luxury in the watch world and make for a good long-term investment.

Tim Stracke, the CEO of Chrono24, a platform that allows customers to buy and sell pre-owned watches, told Business Insider that these top watch brands are known for their quality and craftsmanship, and are not produced en masse. 

"They are not available in unlimited numbers," Stracke told Business Insider. "That's why the demand is rising and prices remain stable or even grow."

Audemars Piguet: Royal Oak Jumbo, Reference 15202ST

Retail Price Estimate: $27,600

Stracke told Business Insider that historically, "steel sports models from iconic brands" are usually the ones that out-perform the global stock indexes. 

One of his top picks is the Audemars Piguet: Royal Oak Jumbo, Reference 15202ST, pictured above. 

Patek Philippe: Steel Nautilus, Reference 5711

Retail Price Estimate: $74,796

He also recommends the Patek Philippe: Steel Nautilus, Reference 5711. And said that mechanical watches such as this "hit the 'zeitgeist.'"

"They are a counterpoint to the ever-growing digitalization of our everyday life and remind us of the beauty of true craftsmanship," he said. "Certain watch models are more sought after than others, which is mainly due to the brand reputation of the Swiss brands in terms of their craftsmanship." 

Omega Speedmaster “First Omega in Space”

Retail Price Estimate: $5,300

Another watch he recommends is the Omega Speedmaster "First Omega in Space" which he said is a "hidden champion" in watches. He also pointed to the fact that, over the last three years, this watch model has increased in value at a steady 10%. 

"[It's] a great version of the legendary Moonwatch at a more affordable price point," he said. 

Rolex: GMT, Reference 1675

Retail Price Estimate: $16,000 

Paul Altieri, CEO of Bob's Watches, has similar recommendations for those looking to invest in watches, and one of his favorites is the Rolex GMT, Reference 1675.

"I always encourage folks to buy what they love and not what will end up being the 'best investment'," he told Business Insider. "Historically speaking, Rolex has done fantastically well appreciating in value in the past few decades. And they are — for the most part — affordable luxury."

Rolex: Daytona, Reference 16520

Retail Price Estimate: $27,500

Another one of his favorites is the Rolex Daytona, Reference 16520. 

"I am partial to the Rolex Submariner, Daytona, and GMT models," Altieri continued. "You really can't go wrong here, whether it's a new model, pre-owned, or vintage.  As long as it's an original honest example." 

Rolex: Submariner, Reference 16800

Retail Price Estimate: $9,195

He is also a huge fan of the Rolex Submariner, Reference 16800. He pointed out that all of the three Rolex sports models — the Submariner, Daytona, and GMT, have increased substantially in demand over the past few years, as demand is what typically drives valuations. 

"They have all proven to be great investments over time," he finished. 

Patek Philippe: Nautilus, Reference 3700

Retail Price Estimate: $44,900

Adam Golden, CEO of Menta Watches, also said it was best to stick with "blue chip" watches, such as the ones previously mentioned, and said he loves the Patek Philippe: Nautilus, Reference 3800, pictured above. 

"Patek Phillippe Nautilus, circa 1978, in stainless steel," he said. "The Nautilus is arguably the most famous of Gerald Genta's designs and adorned by collectors, new and old."

Longines Vintage Chronograph, circa 1940-1950s

Retail Price Estimate: $3,000

However, he does say that it might be worth looking at other watches, like the Longines Chronograph from the 1940-1950s, as a good possible investment. 

"If you want to swerve off the beaten path, find models within "other" brands that have large cult followings," Golden said. "For example, Longines chronographs from the 1930-1960s with Caliber 13ZN or 30CH movements — they have a rabid fanbase and will always be desirable, albeit to a smaller audience."

Omega Speedmaster, Reference 2998-2

Retail Price Estimate: $37,500

Like Stracke, Golden is also a huge fan of the Omega Speedmaster series and recommends Reference 2998-2 .

"It's one of the only references to use the famous 'lollipop' chronograph hand," he said about the watch. "Early Speedmasters, such as this example, are grails amongst collectors, and finding well-preserved examples has become exceedingly difficult." 

Audemars Piguet: Royal Oak, Reference 5402

Retail Price Estimate: $124,660

Another model Golden recommends is Audemars Piguet's Royal Oak, Reference 5402, circa the 1970s, and designed by Gerald Genta. 

"The Royal Oak is the focal point and main attraction for the legendary watchmaker and these first execution models have soared in popularity," Golden told Business Insider. "This particular example is a first-series, or "A" series, meaning it was the very first batch of production, of only allegedly two thousand were produced."

Rolex: Gilt-dial Submariner, Reference 5513

Retail Price Estimate: $28,500

Finally, Golden is a big fan of the Rolex Gilt-dial Submariner, Reference 5513. This model, he said, has been nicknamed the "Bart Simpson" because its coronet on the dial is similar to the famous character's head.   

"Whenever I have someone ask me 'what is the best watch to buy for investment purposes,' my answer is usually the same — watches should, as a whole, not be treated as investments — they should be worn and enjoyed, as intended," Golden said. "However, if you want to "protect" your purchases and asset, make sure you do your homework, and buy a watch in good condition, and as original as possible."