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Iranian Billionaire Is to Be Executed

Country announced Babak Zanjani's sentence Sunday

(Newser) - In what is surely one of the most extreme reminders that money cannot buy everything, Iran on Sunday announced a death sentence had been handed to Babak Zanjani, whose fortune is worth an estimated $14 billion. The 42-year-old was arrested in December 2013, shortly after the election of President Hassan... More »

NYC Dethroned as 'Billionaire Capital'

Beijing now has more billionaires than NYC

(Newser) - New York City was once home to the most billionaires anywhere, but Beijing has overtaken it as the Billionaire Capital of the World, the AP reports. There were 95 billionaires in NYC compared to 100 in the Chinese capital as of Jan. 15, according to Hurun , a Shanghai firm that... More »

Only 5 People Are Richer Than Zuckerberg Now

His fortune surpassed the Koch brothers' on Thursday

(Newser) - Facebook CEO Mark Zuckerberg returned from paternity leave this week, NBC News reports. As a welcome-back gift, he officially became the world's sixth-richest person on Thursday. According to Bloomberg , his net worth increased by $6 billion on the stock market Thursday, lifting him past the Koch brothers. The 31-year-old... More »

62 People Have as Much as the Poorest 3.6B Combined

Wealth concentrated at 'tippy top of the pyramid,' Oxfam says

(Newser) - The richest .000000001% has had a great few years and now owns as much wealth as the poorest 50% of the world's population combined, according to the latest report from Oxfam. The British charity says just 62 billionaires are now as rich as the poorest 3.6 billion people... More »

'China's Warren Buffett' Is Missing

Billionaire Guo Guangchang may be in police custody: reports

(Newser) - One of China's richest men is missing. The developing story is fairly murky: Employees of Fosun Group, which owns Club Med and Cirque du Soleil and is run by billionaire Guo Guangchang, say they've been unable to contact their boss since noon Thursday. Guo—known as "China'... More »

Inside America's Most Expensive 'House' for Sale

The 4.4-acre estate comes with night club, ice skating rink, IMAX cinema, and more

(Newser) - When construction tycoon Robert Pereira got hold of a sprawling ocean-front Florida estate through a trust in 2001, he envisioned turning it into a luxurious home for his family, friends tell the Guardian . But after spending seven years (and $100 million, a third of which was financed by Bank of... More »

Walmart Heir Is Way Less Rich Than Anyone Knew

But still not, you know, poor poor

(Newser) - It turns out the woman once thought to be America's richest female isn't all that rich after all. But don't feel too bad for her; she still has more money than most of us will ever see. It was long assumed Christy Walton was worth approximately $32... More »

China Now Has More Billionaires Than US

They've had their best year ever despite shaky economy

(Newser) - China has passed the United States in the number of billionaires it boasts, driven by the rise of fortunes in technology and manufacturing, according to a survey released Thursday. Despite a cooling economy, the number of Chinese billionaires rose by 242 this year to 596, according to the Hurun Report,... More »

Tycoon Loses $15B in 30 Minutes

Li Hejun is no longer China's richest man

(Newser) - Pop goes the bubble: An energy company chief's brief time as the richest person in China ended in a spectacular collapse this week. In a brutal 30 minutes or so of trading on Wednesday, Li Hejun's fortune went down by as much as $500 million a minute as... More »

Billionaire's Divorce Details: $82K on Groceries

Ken Griffin says wife Anne Dias wants $24K a year for stationery

(Newser) - Chicago hedge fund billionaire Ken Griffin and his money manager wife are embroiled in a contentious divorce, and the couple's battles over money had CNBC last month asking, "How can three kids under age 10 cost $1 million a month?" That after court papers indicated Anne Dias Griffin... More »

Billionaire Tells Rest of Us to Live More Modestly

Jeff Greene currently has a $195M estate on the market

(Newser) - Jeff Greene describes the $195 million price tag of a 23-bathroom Beverly Hills estate he's spent seven years building—and has now put on the market—as "quite reasonable." He lives in a 35,000-square-foot estate in Palm Beach, Fla., with its own private beach. And when... More »

Warhol Bidding Is Behind 2014's $16B in Art Sales

Collectors paid more than $650M for Andy Warhol works alone

(Newser) - As it stands, the estimated $16 billion in art sales in 2014 is the second-highest in history, close on the heels of the $16.3 billion record set in 2011. And a sizable chunk is attributed to fierce competition among billionaires for works by Andy Warhol, 1,295 of which... More »

Youngest Female Billionaire, 30, Revolutionizes Blood Tests

Elizabeth Holmes dropped out of college at 19

(Newser) - Elizabeth Holmes dropped out of college when she was 19; now, she's just 30. She's also the founder of a $9 billion company that's making medical treatment more accessible, and she's the youngest female billionaire in the US, reports Forbes . (She's the third-youngest billionaire overall.... More »

World's Richest Man: 3-Day Workweek 'Will Happen'

Downside? Push retirement age to 75, says Mexican billionaire Carlos Slim

(Newser) - He's said it once and he's saying it again: Carlos Slim envisions a world where we work just three days a week and have more time for the things we enjoy. But this isn't some pipe dream. "I am sure it will happen," the Mexican... More »

Mr. Diplomacy: Chinese Are 'Mongrels' Who 'Shoot Own People'

Australian lawmaker Clive Palmer creates a ruckus

(Newser) - An Australian billionaire-turned-lawmaker went on live TV yesterday and demonstrated that while he's great at making money, he's not so good with diplomacy. Mining magnate Clive Palmer, whose business is in a nasty legal battle with its state-owned partner in China, got a little heated when asked about... More »

World's 2nd-Richest Man Wants a 3-Day Work Week

But people should work into their 70s, Carlos Slim

(Newser) - People are working too many days but not enough years, according to the world's second-richest man. Mexican telecommunications tycoon Carlos Slim says it is time for a "radical overhaul" that would result in people working just three days a week but postponing retirement until their 70s, reports the... More »

'Deeply Evil' Billionaire Gets Death Penalty

Liu Han yells out in court: 'I was framed'

(Newser) - Two Chinese brothers have been convicted of murder and running a "mafia-style" gang over two decades—and they'll pay the price with their lives. Billionaire Liu Han, 48, and his brother were leaders of a 36-person gang charged with at least eight murders, Chinese media report, per the... More »

Tech Honcho Nabs History's Biggest Life Insurance Policy

Identity remains a mystery

(Newser) - An unnamed Silicon Valley billionaire has purchased the world's most valuable life insurance policy. Guinness Book of World Records officials say the $201 million life insurance policy is more than double the previous record, set in 1990 by an unidentified "entertainment industry figure," the San Jose Mercury ... More »

Adelson Looks to Declare War on Online Gambling

Big GOP donor says it's bad for business, country

(Newser) - Casino boss Sheldon Adelson was in the spotlight last November for his enormous donations to GOP campaigns. This year, he's using his billions to fight another battle—against online gambling. Though Caesars, MGM Resorts, and other competitors say the practice could actually benefit casinos, Adelson disagrees; he says it... More »

Sustainable Farm Fuels the Left's Sheldon Adelson

Hedge fund billionaire Tom Steyer pushes environmental issues

(Newser) - A hedge-fund billionaire and his wife, a community bank CEO, originally aimed to use their 1,800-acre California ranch to show off soil conservation techniques—but today, it's become a model sustainable farm, and apparently a highly profitable one. At TomKat Ranch, Tom Steyer and Kat Taylor raise grass-fed... More »

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