billionaires

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Billionaire Barred From Buying Himself Nice Things

It's a 'humbling turn of events' for Chen Feng

(Newser) - A life without first-class flights, luxury hotels, and weekends at the golf course. For most of us, that sounds like business as usual. For Chen Feng, it's "a humbling turn of events," reports the New York Times . Chen is both a billionaire and the co-founder and chairman...

Zoom's Founder Now Among Richest Americans

Eric Yuan's wealth is up more than 300% this year

(Newser) - Zoom founder Eric Yuan has lost billions of dollars in the slump in tech stocks over recent days—but he's still among the richest people in America. The videoconferencing firm CEO is a new entry on the Forbes list of the 400 richest Americans, coming in at No. 43,...

An American Has Become the Richest Woman on Earth

Surge in tech stocks raises MacKenzie Scott's wealth to $68B

(Newser) - The recent surge in tech stock prices has shaken up the rankings of the world's billionaires—and made MacKenzie Scott the richest woman on the planet, thanks to the 4% stake in Amazon she received in her 2019 divorce from Jeff Bezos. Her estimated net worth of $68 billion...

The Rich(est) Keep Getting Richer
Elon Musk
Joins an Elite Club
Aug 27, 2020 1:08 PM CDT

Elon Musk Joins an Elite Club

He is now one of 4 'centibillionaires' on the planet

(Newser) - MacKenzie Scott may just become the world's richest woman after all . Her ex-husband, Amazon CEO Jeff Bezos, should be celebrating, too. Bezos' wealth topped $200 billion on Wednesday as shares in the e-commerce giant hit a record. As Bloomberg reports, the climb brings Scott "to the brink of...

Tim Cook Enters the 'Three-Comma Club'

Apple's CEO has just become a billionaire

(Newser) - Don't think of Tim Cook as obscenely rich? Well, he is Apple's CEO, and he's now in the billionaire's club. That's according to a Bloomberg News analysis of his compensation and years of Apple stock awards that pay out gradually. His 847,969 shares (about...

Elon Musk Is Now the 7th Richest Person in World

He surpasses Warren Buffett on billionaires list

(Newser) - Elon Musk is now worth more than Warren Buffett, making the Tesla CEO the seventh-richest person on the planet, according to Bloomberg 's Billionaire Index. Musk, who also runs SpaceX and the Boring Company, is now worth $70 billion, still pretty far behind the No. 1 on the list,...

Some PPP Loan Recipients Are a Little Surprising
Some PPP Loan Recipients
Are a Little Surprising
the rundown
Jul 7, 2020 9:55 AM CDT

Some PPP Loan Recipients Are a Little Surprising

Kanye West, sculptor Jeff Koons, and the Church of Scientology are on the list

(Newser) - The Treasury Department has released the names of everyone who got a loan bigger than $150,000 through the PPP—the Paycheck Protection Program designed to help businesses weather the pandemic. While millions of small companies were helped by the loans, which can be forgiven if the money is used...

The World's Richest Person Is Now Richer Than Ever

The Amazon founder is worth a staggering amount of money

(Newser) - Get a raise last year? Jeff Bezos saw his gains go up, too—by $56.7 billion, which makes the world's richest person literally richer than ever, Bloomberg reports. His wealth rose along with a 4.4% surge in Amazon stock, which put shares at a record $2,878....

Explorer Finds 'Evidence' in Murdered Billionaire's House

The urban explorer says 'there was stuff everywhere' in Barry and Honey Sherman's home

(Newser) - A so-called "urban explorer" crept into the house of a murdered billionaire couple last year and saw a lot more than he bargained for, the Toronto Star reports. The explorer, who remains unidentified, slipped into Barry and Honey Sherman's home in Toronto just before it was demolished last...

Forbes Redid the Numbers. It's Bad News for Kylie Jenner

Magazine says it has concluded 22-year-old 'is not a billionaire'

(Newser) - Remember all the hubbub last year over Kylie Jenner's ascension to the crown of "youngest ever self-made billionaire" at age 21? That title just got yanked by Forbes , which has removed her from its famous ranking of billionaires after looking more closely at what it now calls her...

After a Humble Start, He Made a Bigger Vegas
'King of Gambling'
Is Dead at 98
obituary
May 26, 2020 11:18 AM CDT

'King of Gambling' Is Dead at 98

Though Macau tycoon Stanley Ho didn't gamble himself

(Newser) - Casino tycoon Stanley Ho, who made the enclave of Macau into a gambling hub even bigger than Las Vegas, has died in Hong Kong at age 98. Considered the father of modern gambling in China, Ho's long and eventful life tracked the ebb and flow of southern China's...

Cops on Tycoon's Missing Wife: 'Clearly Planned Deception'

Norway's Tom Hagen arrested on suspicion of murdering spouse, who vanished in 2018

(Newser) - One of Norway’s wealthiest men was arrested Tuesday in connection with his wife's 2018 disappearance and held on suspicion of murder or complicity to murder in a case that police had earlier thought was a kidnapping. Tom Hagen, a real estate investor and owner of an electric company,...

Forbes Just Named Kanye a Billionaire. He's Still Not Happy

Rapper says magazine undervalued him at $1.3 billion

(Newser) - It's not clear whether Yeezy will soon change his name to "Christian Genius Billionaire Kanye West," as he's long wanted to , but he can at least now officially claim part of that moniker. CNN reports the 42-year-old rapper and fashionista is worth $1.3 billion, per...

Jeff Bezos' Fortune Takes Big Jump Thanks to COVID-19

Crisis has given Amazon shares a big boost

(Newser) - The world's richest man is having a good 2020. Amazon's share price surged 5.3% to a new high on Tuesday, getting a boost from increased demand for online shopping amid the coronavirus crisis. Where that leaves Jeff Bezos' fortune: up $24 billion in 2020, the BBC reports....

Billionaire Sports Owners Abandoning Workers During Virus
Dear Stingy
Sports Owners,
We'll Remember This
OPINION
Mar 27, 2020 2:48 PM CDT

Dear Stingy Sports Owners, We'll Remember This

Nancy Amour for USA Today says those who don't pay workers shouldn't expect tax breaks

(Newser) - Boston Bruins owner Jeremy Jacobs is getting slammed for cutting salaries or laying off workers altogether during the coronavirus pandemic. Tilman Fertitta, who owns the Houston Rockets—as well as Landry's, the parent company over hundreds of restaurants, hotels, and casinos—is likewise drawing criticism after laying off 40,...

Billionaire to Dole Out $9M in 'Serious Social Experiment'

Japanese entrepreneur Yusaku Maezawa wants to see if $9K will make 1K lucky winners happier

(Newser) - Money supposedly doesn't buy happiness, but a Japanese billionaire thinks it might at least cheer some people up. Just a couple of weeks after Zozo founder Yusaku Maezawa donated more than $18 million to a Japanese city hit hard by a typhoon, the fashion-minded entrepreneur is back in the...

New Trouble for Billionaire Claiming Beach as His Own

California commissions sue Vinod Khosla over access to Martins Beach

(Newser) - The California Attorney General's Office has filed suit against a billionaire who's long tried to block the public from accessing a beach he claims as his own . The suit, filed Monday on behalf of the California State Lands Commission and California Coastal Commission, claims Sun Microsystems co-founder Vinod...

Elizabeth Warren Hits Back at Billionaires, Hard

New campaign ad takes billionaires to task over criticism of her wealth tax

(Newser) - A number of billionaires have come out against Elizabeth Warren's proposal to dramatically increase their taxes, and now the senator and 2020 presidential candidate is hitting back with a new campaign ad . Titled "Elizabeth Warren Stands Up to Billionaires," it features clips of billionaires Leon Cooperman, a...

Finance Bigwig at Summit: 'I Want to Talk About What's in Your Pants'

Fisher Investments has now lost nearly $1B after sexist remarks at CEO conference

(Newser) - Cities across the US have entrusted Fisher Investments with shepherding their pension investments, but several have now bailed after the firm's founder made sexist comments at a conference in San Francisco last week. CNBC reports the city of Boston is the latest to drop Fisher, withdrawing nearly $250 million...

2018&#39;s &#39;Maddening&#39; Tax Rates Unveiled
2018's 'Maddening'
Tax Rates Unveiled
NEW STUDY
Oct 9, 2019 8:18 AM CDT

2018's 'Maddening' Tax Rates Unveiled

400 richest US households paid lower rate than bottom 50%: economists

(Newser) - America's richest billionaires paid a lower average tax rate than the working class for the first time in US history in 2018, according to a new study. The book-length research, The Triumph of Injustice , comes from Emmanuel Saez and Gabriel Zucman, the same economists who inspired Elizabeth Warren's...

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