billionaires

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Missing Chinese CEO Is 'Cooperating' in Gov't Investigation

His company, China Renaissance, now says founder Bao Fan is cooperating with government

(Newser) - Bao Fan, the billionaire Chinese investment banking CEO who has disappeared, is "cooperating in" a government investigation, according to China Renaissance Holdings, the company he founded and runs—and which reported him missing weeks ago. The company's board has since "become aware that Mr. Bao is currently...

Oxfam Says It's Time for 'Billionaire-Busting' Taxes

Since 2020, two-thirds of all new wealth created has gone to 1%, group says

(Newser) - Oxfam has once again released startling figures on inequality to mark the opening of the World Economic Forum in Davos, Switzerland. Over the last two years, two-thirds of all new wealth created has gone to the richest 1% of the world's population, up from an average of around 50%...

Elon Musk Has Now Lost the Most Money in History

Bloomberg reports he has become the first person to lose $200B

(Newser) - A little over a year ago, Elon Musk was sitting on the astronomical sum of about $340 billion in net worth, making him the richest human on the planet by a wide margin. Today, Bloomberg reports that Musk has became the first person in history to lose $200 billion. The...

Billionaires: You're Not as Genius as We Think You Are

Fall of FTX's Sam Bankman-Fried anchors 'WaPo' op-ed on rich-person idolization

(Newser) - Up until recent weeks, Sam Bankman-Fried, founder of the cryptocurrency exchange FTX, was a media darling, appearing on the cover of Fortune magazine and interviewed for his thoughts on everything from the crypto landscape in general to "how to save humanity from extinction." Now, with the collapse of...

MacKenzie Scott Gives Girl Scouts Its Biggest Gift Ever

Philanthropist donates more than $84M to group

(Newser) - Philanthropist MacKenzie Scott donated $84.5 million to Girl Scouts of the USA and 29 of its local branches, the 110-year-old organization said Tuesday, calling it a vote of confidence. "Her support of our organization means honestly just as much as the donation," Sofia Chang, CEO of GSUSA,...

Name of MacKenzie Scott&#39;s Husband Quietly Disappears
MacKenzie Scott Quietly
Files for Divorce
UPDATED
Sep 29, 2022 12:30 AM CDT

MacKenzie Scott Quietly Files for Divorce

Her second husband had disappeared from joint philanthropy efforts

(Newser) - Update: MacKenzie Scott has indeed split with her second husband. The billionaire philanthropist, 52, filed for divorce from science teacher Dan Jewett on Monday after less than two years of marriage, reports CNN . The papers were filed in King County Superior Court in Washington state, though no further details were...

Even With $2.5B, Oprah Isn't Among 400 Richest in US

Kanye West doesn't make the cut, either, though Donald Trump does

(Newser) - Donald Trump has found his way back onto Forbes' list of the 400 richest Americans. The former president was excluded in 2021 for the first time in 25 years. But with an estimated net worth of $3.2 billion—up from $2.5 billion last year—he's back for...

Tech Tycoons Have Had a Rough Year. None Like Zuckerberg

Meta CEO has hemorrhaged $71B since Jan. 1—more than half his wealth

(Newser) - Don't worry, Mark Zuckerberg is still a billionaire—but he's lost many, many of those billions over the past several months. In what Bloomberg describes as a rough year for most tech billionaires, it's been an especially bumpy one for the Meta CEO: He's lost $71...

This Man Pushed Bezos Down One Spot in Richest Rankings

Bloomberg ranks Gautam Adani as world's 2nd richest

(Newser) - Update: And then he was second. NPR reports that Gautam Adani of India has grabbed the No. 2 slot on the world's richest list from Jeff Bezos. It cites Bloomberg's Billionaires Index, which this week listed both Adani and Bezos as having a net worth of $147 billion;...

'Eat the Rich' With Popsicles Shaped Like Musk, Bezos

MSCHF artists collective has ice cream trucks in NYC, LA with the billionaire-shaped treats

(Newser) - If you're in New York City or Los Angeles on Wednesday and want to work out your angst against capitalism, there's a frozen treat waiting for you, modeled after the world's richest men. Just stop by what's being deemed a "unique art pop-up" by CBS...

Walmart Heir Pays Record Price for an NFL Team

Rob Walton will reportedly pony up $4.65B to buy the Denver Broncos

(Newser) - Up until this week, the most an NFL team has ever sold for is $2.3 billion. That record just got shattered, however, by the news that Walmart heir Rob Walton, one of the world's richest men, has agreed to buy the Denver Broncos for twice that price. A...

LeBron James Gets His 'Biggest Milestone'

'Forbes' anoints him a billionaire, making him the first active NBA player to get there

(Newser) - Eight years ago, LeBron James told GQ that he was chasing his "biggest milestone"—achieving billionaire status. Mission accomplished, according to Forbes . The magazine now calculates James' worth to be $1 billion, making him the first active NBA player to reach the mark. Michael Jordan made the list...

Elon Musk: Don't Be Offended by My Wealth. I Don't Spend It

Tesla CEO says he doesn't consume like a billionaire

(Newser) - If you begrudge Elon Musk his billions, take solace: He's not even spending all that money on himself. Like, not even on a villa, a mansion, or an apartment. USA Today reports the world's richest person talked about his $275 billion fortune in an interview with the head...

World's Richest Musician Disputes Spot on Forbes List

Sources say Ye believes estimate is $5B too low

(Newser) - The rapper formerly known as Kanye West is the richest musician in the world, with a net worth of around $2 billion, according to the latest Forbes billionaires list —but insiders say Ye wants a recount. Sources tell the Blast that Ye believes Forbes is trying to "diminish"...

Meet the 10 Richest People in the World

You know many of them already, including Elon Musk at No. 1, per 'Forbes' annual billionaires ranking

(Newser) - If Forbes is trying to make us feel bad for the world's billionaires, it's not really working. The magazine notes that, collectively, this group is now worth $400 billion less than they were a year ago, thanks to the ongoing pandemic, tepid markets, and war—but 1,000...

Billionaire Builders Lose Grip on Family Empire
How 4 Brothers Destroyed
a Real Estate Empire
longform
Mar 12, 2022 9:30 AM CST

How 4 Brothers Destroyed a Real Estate Empire

Teddy Libfeld's sons took over his real estate business peacefully—at first

(Newser) - Maybe it is just another story about billionaire problems, but—as chronicled by Luc Rinaldi for Toronto Life —the saga of "Libfeld vs. Libfeld vs. Libfeld vs. Libfeld" offers valuable lessons for anyone operating a family business. Think succession planning! Teodor "Teddy" Libfeld, an Auschwitz survivor, arrived...

This Russian Oligarch Just Lost His Superyacht
Superyacht Seized as It
Prepared 'to Sail Off Urgently'
in case you missed it
Mar 6, 2022 12:10 PM CST

Superyacht Seized as It Prepared 'to Sail Off Urgently'

France seizes $120M yacht linked to Putin's friend and ally Igor Sechin

(Newser) - Two days after he was sanctioned by the European Union, Russian oligarch Igor Sechin lost his superyacht. France on Wednesday seized the 280-foot yacht Amore Vero ("True Love"), with a reported price tag of $120 million, reports CNN . The ship, reportedly owned by an entity of which Sechin...

Meta Plunge Knocks Zuckerberg Out of Top 10 Billionaires

Bezos is set to get $20B richer

(Newser) - Share price swings have brought the fortunes of two tech billionaires up—and down—by amounts equivalent to the GDPs of small countries. Shares in Meta, Facebook's parent company, plummeted 26% on Thursday, bringing Mark Zuckerberg's net worth down by around $29 billion to $85 billion, reports Reuters...

Oxfam Calls for One-Time 99% Tax on Billionaires

Money would be used to expand production of vaccines for the poor, anti-poverty group says

(Newser) - Anti-poverty organization Oxfam called Monday for governments to impose a one-time 99% tax on the world's billionaires and use the money to fund expanded production of vaccines for the poor—part of an effort to combat global inequality widened by the coronavirus pandemic, the AP reports. The ranks of...

Thanks to COVID, Luxe Business Is Booming

Pandemic inspired 'life can be short' mentality, record car sales, says Rolls-Royce CEO

(Newser) - Rolls-Royce, Bentley, and Lamborghini are among the luxury car brands to describe record sales in 2021, CNN reports. The reason, according to Rolls-Royce CEO Torsten Muller-Otvos: the high rate of COVID-19 deaths. "Quite a lot of people witnessed people in their community dying from COVID. That makes them think...

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