Under his leadership, Emerson diversified its business portfolio by acquiring 36 companies. Within the market portfolio, asset specific risk will be diversified away to the extent possible. They diversified the assets locally, investing in urban real estate. The city has since diversified its economy in addition to its manufacturing sector. Livestock and poultry are industries where Negros Occidental has strongly diversified. Templeton became a billionaire by pioneering the use of globally diversified mutual funds. Manufacturing subsequently gradually diversified into electrical equipment. In 1948, Kamprad diversified his portfolio, adding furniture. The company diversified over time, in part through acquisitions. They tend to be countries moving towards industrialization and more diversified economies. In the 1990s, the economy diversified rapidly, shifting away from heavy industry. The area has economically diversified in the past decade. The genus diversified rapidly and spread over the continents. By the 1950s, the music industry had diversified greatly, and included several major labels. Hearst also diversified his publishing interests into book publishing and magazines.