billionaire

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Tiger's Not a Billionaire, But He Still Can Be

Woods just has to figure out how to 'monetize his remaining dignity'

(Newser) - Tiger Woods is not and has never been a billionaire, writes Devon Pendleton. Yes, he's crossed the billion-dollar mark in career earnings, but that doesn't take into account all his expenses, sundry or otherwise. Pendleton, who tracks such things for Forbes, figures he was worth about $500 million just before...

Soros to Invest $1B to Develop Clean Energy

He's also creating advisory group for policy-makers

(Newser) - George Soros is putting his vast resources—or at least $1 billion of them—behind his passion for the environment. Soros plans to invest that amount into developing technology to create clean energy. He's also starting an organization called the Climate Policy Initiative, which will be based in San Francisco,...

'Billionaire Bloodbath' Costs America's Super-Rich $300B

Mere multi-millionaires make it into Forbes 400 as slowdown shrinks fortunes

(Newser) - America's 400 richest people became a whole lot poorer over the last 12 months, according to the latest Forbes list. Their total wealth fell by a whopping $300 billion to a total $1.27 trillion, with 314 of the 400 experiencing a fall in fortunes. A Forbes editor described the...

Judge Quashes Trump's Suit Against Author

The Donald took issue with being called mere multi-millionaire

(Newser) - Donald Trump will have to live with being regarded as somewhat less astronomically wealthy, the Philadelphia Inquirer reports, after a judge today dismissed his defamation suit against Timothy O’Brien, author of TrumpNation. O’Brien estimated that Trump is worth $150-$250 million; Trump says he’s worth billions, and claimed...

Lunch With Buffett Sells for $1.68M

(Newser) - Lunch with Warren Buffett is a little cheaper this year. The anonymous winner of an eBay auction for a steak lunch with the Oracle of Omaha paid $1.68 million, down from last year’s record of $2.1 million. It’s still the second highest bid in the 10-year...

Stanford Indicted for $7B Ponzi Scheme

(Newser) - Alleged billionaire fraudster Robert Allen Stanford and six of his associates were indicted today on charges that they ran a $7 billion Ponzi scheme, the AP reports. Stanford turned himself in to authorities yesterday. “A fair jury will find him not guilty of any criminal wrongdoing,” Stanford’s...

Giving Away Billions Feels Great: Gates

Microsoft founder touts philan-therapy for world's rich

(Newser) - Bill Gates is touting the feel-good benefits of giving away money, telling a crowd in Oslo that “all billionaires should give away the vast majority of their fortunes.” Leave enough for the kids, he says, but, “I’m a great believer that great wealth should go from...

Bloomy: Obama Doesn't 'Get Paid That Much'

(Newser) - Billionaire New York Mayor Michael Bloomberg added to a growing store of off-the-cuff comments yesterday when he defended the Obamas’ theater outing to his Big Apple by saying the president “lives on a budget,” the Times reports. Obama, who makes $400,000 a year, “does not get...

Savvy Slim Bets on NYT Being a Monopoly
Savvy Slim Bets on NYT
Being a Monopoly
Glossies
May 26, 2009 6:55 PM CDT

Savvy Slim Bets on NYT Being a Monopoly

(Newser) - Carlos Slim, the elusive Mexican billionaire who bailed out the New York Times to the tune of $250 million, is betting that the Times will be one of a very few major-league news organizations left standing when the current newspaper shakeout is over, Lawrence Wright writes in a profile of...

Bloomberg Drops $18.7M on Campaign

(Newser) - New York Mayor Michael Bloomberg has already spent $18.7 million in his bid for a third term, outpacing his own 2005 campaign by 55%, the New York Daily News reports. The billionaire's three main competitors have spent a combined total of about $2.5 million, with controller William Thompson...

Generosity Earns L'Oréal Heiress, 86, Date With Shrink

(Newser) - The grand dame of L'Oréal will submit to psychiatric tests after her daughter complained in court about the $1.5 billion in gifts she has lavished on a 61-year-old male friend, the Guardian reports. Liliane Bettencourt, 86, agreed to testing to prove she's mentally competent. An angry Bettencourt told...

UK Billionaires' Ranks Halved in Downturn

Wealthiest lose collective $228B

(Newser) - The number of UK billionaires has been almost cut in half by economic woes, from 75 to 43, with the country’s wealthiest having lost a collective $228 billion, the Times of London reports. The hardest-hit was steel magnate Lakshmi Mittal, who remains Britain’s richest man despite having lost...

Against All Odds, Bloomberg Got Richer in 2008

New York mayor got wealthier as rest of rich list top 20 got poorer

(Newser) - How does he do it? Last year was so bad for the world's billionaires that a third of them were demoted to mere multi-millionaires but Michael Bloomberg bucked the trend big time by actually increasing his wealth, the New York Daily News reports. The New York mayor, with an estimated...

Gates No. 1 on Shrinking Billionaire List

(Newser) - This may not elicit much sympathy, but Forbes' annual list of billionaires has shrunk from 1,125 names to 793 this year. Bill Gates lost $18 billion but managed to regain the top spot from Warren Buffett, who lost $25 billion. Here's the top 10:
  • Gates, $40 billion
  • Buffett, $37
...

FBI Arrests High-Ranking Stanford Exec

Investment officer faces SEC obstruction charges

(Newser) - FBI agents have arrested the chief investment officer of Stanford Financial Group, accusing Laura Pendergest-Holt of obstructing an SEC fraud investigation. The SEC has been investigating allegations of an $8 billion investment fraud involving Texas billionaire R. Allen Stanford's financial group. Pendergest-Holt, arrested in Houston, will appear in court tomorrow....

Russia Loses Half of Its Billionaires
Russia Loses Half of Its Billionaires
Feb 16, 2009 10:00 AM CST

Russia Loses Half of Its Billionaires

Market woes, weak ruble have chipped away at fortunes

(Newser) - The 10 wealthiest Russians have lost two-thirds of their fortunes in the past year, AP reports, based on the magazine Finans' annual list of billionaires. The ranks of billionaires have been cut in half, from 101 to just 49. Last year's richest Russian, Oleg Deripaska, has fallen to eighth on...

Market Meltdown Reshapes Forbes Rich List

Buffett bumps Gates in redrawn rankings of world's wealthiest

(Newser) - The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as...

Bloomberg, Gates Take On Smoking
Bloomberg, Gates Take On Smoking
Jul 23, 2008 1:20 PM CDT

Bloomberg, Gates Take On Smoking

Billionaires donate $375M to global anti-tobacco campaign

(Newser) - Microsoft founder Bill Gates and New York Mayor Michael Bloomberg are pooling their piles of money and pouring $375 million into a global effort to cut smoking. The two philanthropists—who have a combined worth of more than $70 billion—say the new effort will target developing countries where tobacco...

Hayek Back on the Market
 Hayek Back on the Market 
Jul 18, 2008 11:34 AM CDT

Hayek Back on the Market

Bombshell, billionaire baby daddy call the whole thing off

(Newser) - Salma Hayek and French billionaire Francois-Henri Pinault have called it quits 10 months after their daughter was born. "We are sad to announce the engagement of Salma Hayek and Francois-Henri Pinault has been canceled. There will be no further comment," Hayek's rep told USA Today. Pinault is CEO...

NYC Biz Leaders Search for Next Mayor/CEO

Bloomberg's city-as-business style likely hard to replicate

(Newser) - New York Mayor Michael Bloomberg will vacate his office in 18 months, the New York Times reports, and local business honchos are already hunting for a replacement candidate who shares Bloomberg's financial independence and city-as-a-business approach. "What the business community wants is not just a businessman but a Bloomberg-type...

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