billionaires

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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...

Elon Musk Takes Aim at 'Senator Karen'
Elon Musk
Tweets His
Estimated
Tax Bill
UPDATED

Elon Musk Tweets His Estimated Tax Bill

He says he'll pay more than $11B this year, and business sites think that's about right

(Newser) - Update: Elon Musk has been feuding with Elizabeth Warren and other critics who say he doesn't pay enough taxes. On Sunday night, Musk fought back with specifics: He tweeted that he will pay more than $11 billion this year, largely because he's sold a swath of his Tesla...

Billionaire Breaks California Real Estate Record

Marc Andreesen buys Malibu home for $177 million

(Newser) - Jeff Bezos once laid claim to the priciest real estate in California--but not anymore. Per the LA TImes , venture capitalist Marc Andreessen has paid $177 million for his new seaside Malibu estate, a record for the Golden State. Per the Wall Street Journal , the Silicon Valley billionaire purchased the property...

Guess Who's Not Keen on Dems' Billionaire Tax Plan?

Tesla/SpaceX CEO Elon Musk could see $5B in taxes over 5 years if the plan were put in place

(Newser) - Under a new proposal unveiled by Democrats this week, America's richest of the rich would soon be helping to pay for President Biden's domestic agenda by paying taxes on unrealized gains on assets like stocks in their portfolio, whether or not they sell them. It was expected there'...

A New Tax Plan Requires a Fundamental Shift
Democrats'
New Strategy:
Novel Tax on
Billionaires
the rundown

Democrats' New Strategy: Novel Tax on Billionaires

It would require the richest of the rich to pay taxes on assets even if they don't sell them

(Newser) - Democrats in Congress are still trying to figure out how to pay for President Biden's wish list, and it looks like they're settling on a plan to levy a novel penalty on the very richest of Americans. Coverage:
  • The idea: The proposal being worked out would require about
...

Musk Widens Richie-Rich Gap, Trolls Bezos

SpaceX CEO tweets a silver medal at space race rival

(Newser) - Elon Musk is pulling further ahead of Jeff Bezos as the world's richest man, and trolling all the way. Privately-held SpaceX saw its valuation rise to $100.3 billion this week as insiders agreed to sell up to $755 million in stock to new and existing investors at $560...

A Lawsuit at One of World's 'Wealthiest Addresses'

432 Park Avenue residents describe floods, elevator breakdowns, excessive noise

(Newser) - Update: Residents of one of the most expensive addresses in the world are suing the developers for $250 million. The complaint filed Thursday by the condo board at 432 Park Avenue in New York City claims the funds are needed to repair some 1,500 construction and design defects in...

One Man Has Lost $27B So Far This Year

China's Colin Huang has the world's biggest wealth drop in 2021

(Newser) - Colin Huang is still a very rich man, estimated to be worth $35 billion by Bloomberg . But the founder of Chinese e-commerce business Pinduoduo also has the distinction of having lost more money this year than anyone else in the world—more than $27 billion. That is by far the...

Billionaire Unveils Plans for 'Most Inclusive City in the World'

Marc Lore's Telosa, to be built in some US desert, will be a sustainable, 'equitable' metropolis

(Newser) - He's helmed Jets.com and Diapers.com and served as a top Walmart exec. Now, billionaire and entrepreneur Marc Lore has a new project in the works, as long as he can pull together more than $400 billion. That's the amount the 50-year-old says he needs to build...

Billionaire Accused of 'Provoking Trouble' Gets 18 Years

Observers say case against Chinese pig farmer and dissident ally Sun Dawu is politically motivated

(Newser) - It's been nearly nine months since Sun Dawu was arrested, and on Wednesday, the Chinese billionaire pig farmer heard his fate: 18 years behind bars, as well as a nearly $500,000 fine. Sun's crimes, per a Chinese court: "picking quarrels and provoking trouble," a charge...

Advice to Bezos, Branson: 'Read the Room'
Advice to Bezos, Branson:
'Read the Room'
OPINION

Advice to Bezos, Branson: 'Read the Room'

Critics weigh in on the billionaires' space race

(Newser) - With Richard Branson and Jeff Bezos planning their first trips to space as dangerous heat waves intensify, some people suspect the billionaires are planning futures off the planet. Not going to happen, says Sim Kern in an essay at Salon . "As a scifi writer and the spouse of a...

MacKenzie Scott Slams Wealth Gap, Donates Billions More

Jeff Bezos' ex-wife gives to 286 organizations

(Newser) - MacKenzie Scott just made a lot of people very happy. The billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos announced Tuesday in a Medium post that she has given away another $2.7 billion to 286 organizations, per the AP . It's the third round of announcements Scott has...

Warren Buffett Becomes 6th Guy to Join Elite Group

Berkshire Hathaway chair can now claim $100B to his name

(Newser) - Tired: becoming a billionaire. Wired: entering the $100 billion club. Now in the latter category is Warren Buffett, who on Wednesday joined an elite group of five—Bill Gates, Elon Musk, Jeff Bezos, Mark Zuckerberg, and LVMH Chair Bernard Arnault—who've been able to claim that benchmark amount in...

Want to Go on SpaceX Flight to the Moon? He's Paying

Japanese billionaire Yusaku Maezawa launches contest for 8 to ride with him to lunar orbit in 2023

(Newser) - It's a Frank Sinatra song come to life, courtesy of a billionaire. In 2018, tycoon and art collector Yusaku Maezawa, founder of Japanese online fashion mall Zozotown, was announced as the first signed passenger aboard SpaceX's Starship rocket, set to fly to the moon sometime in 2023. At...

Democrats Unveil 'Ultra-Millionaire Tax Act'

Warren says it's popular with voters on both sides

(Newser) - When Sen. Elizabeth Warren proposed a tax on the ultra-rich during her 2020 campaign, analysts said it would raise around $2.75 trillion. The richest Americans have grown so much richer during the pandemic that the estimate is now more than $3 trillion. Warren and two House Democrats, Reps. Pramila...

Jesse Ventura: It's Time for a 'Maximum Wage'

$12M a year is enough for anyone, former governor and wrestler says

(Newser) - "There shouldn't be one billionaire," former Gov. Jesse Ventua says. "There shouldn't be one person worth a billion dollars." He has a plan to take care of that, per LADbible . "Everybody talks about a minimum wage, a minimum wage, a minimum wage—I...

Next-Door Neighbors in Bizarre Feud, Billionaire-Style
Billionaire Offers to End 'Petty'
$1M Fight. Foe Says Nope
in case you missed it

Billionaire Offers to End 'Petty' $1M Fight. Foe Says Nope

It's all over an expensive lawn sculpture Pimco co-founder erected in his yard in Laguna Beach

(Newser) - "I do not willingly back down from a fight," says billionaire Bill Gross, who's engaged in a legal battle with his Laguna Beach neighbor over a $1 million lawn sculpture. But even the Pimco co-founder says he's had enough of this "petty" disagreement amid a...

Earth Has a New 2nd-Richest Person
Earth Has a New
2nd-Richest
Person

Earth Has a New 2nd-Richest Person

Elon Musk surpasses Bill Gates

(Newser) - Elon Musk is now the second-richest person in the world. The Tesla and SpaceX founder has, for the first time, surpassed Bill Gates' net worth of $127.7 billion, Bloomberg reports. Musk, 49, is now worth $127.9 billion, after the latest surge in Tesla's share price; his net...

Elon Musk to Become Earth's 3rd Richest Person
It's a Very
Good Day for
Elon Musk

It's a Very Good Day for Elon Musk

Tesla CEO is about to become 3rd-richest person on the planet as his company joins S&P 500

(Newser) - Tesla and SpaceX CEO Elon Musk is set to overtake Facebook CEO Mark Zuckerberg as the world's third-richest person on Tuesday. Tesla's stock closed just above $408 on Monday but jumped 14% in after-hours trading following news that the company will join the S&P 500 index on...

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