billionaires

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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... More »

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... More »

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... More »

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... More »

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... More »

Sanders Just One-Upped Warren on a Signature Issue

Sanders' wealth tax proposal would affect more households, raise more revenue: economists

(Newser) - Elizabeth Warren is suddenly facing competition on the signature issue of her presidential campaign. Enter Bernie Sanders, who on Tuesday unveiled his plan to "substantially reduce wealth inequality in America and stop our democracy from turning into a corrupt oligarchy." Whereas Warren backs a 2% wealth tax on... More »

Bill Gates No Longer Planet's 2nd Richest

Bernard Arnault jumps over him

(Newser) - In the seven years that Bloomberg has been putting out its Billionaires Index, Bill Gates has always ranked in the top 2. No more. On Tuesday, Bernard Arnault leaped over him and into the No. 2 spot, with a net worth of $107.6 billion, a slim $200 million over... More »

MacKenzie Bezos' 'Revealing' Move After Divorce From Jeff

Amazon CEO's ex-wife just signed Giving Pledge, vowing to donate at least half of her wealth

(Newser) - MacKenzie Bezos just opened up her wallet big time, and she's sharing her reason why. "I have a disproportionate amount of money to share," the ex-wife of Amazon CEO Jeff Bezos noted in her letter signing on to the Giving Pledge , a commitment by some of the... More »

This US City Has the Most Billionaires Per Capita

At 1 per 11,600 residents

(Newser) - You can barely swing a cat in San Francisco without hitting a few billionaires, according to a new study. The Wealth-X "Billionaire Census" found that the Silicon Valley city has far more billionaires per capita than any other city in the world: One per 11,600 residents. The nearest... More »

Backlash Begins Over Notre Dame Donations

Critics cite white privilege, and a billionaire donor responds

(Newser) - The $1 billion raised to rebuild Notre Dame Cathedral is now receiving a dose of controversy. The Washington Post is among several outlets reporting that criticism is mounting in regard to income inequality about the large donations that came from billionaires like Francois-Henri Pinault and Bernard Arnault. While most want... More »

Youngest Ever Self-Made Billionaire Is Crowned

Kylie Jenner takes the title at age 21, thanks to makeup brand

(Newser) - She's done it : Kylie Jenner is the youngest self-made billionaire ever at 21. Perhaps better known for her role in reality TV's Keeping Up With the Kardashians, Jenner is the sole owner of Kylie Cosmetics, which launched in 2016 and is now valued at $900 million. "Add... More »

2nd Billionaire Charged in Prostitution Ring

John Childs, 77, caught up in same sting as Patriots owner Robert Kraft

(Newser) - Not one billionaire, but two have been caught up in the human trafficking sting in Florida. Robert Kraft is the more high-profile name of the two (and the one everyone was buzzing about Friday), but equity firm owner John Childs has also made the list, per TCPalm . Childs, who owns... More »

Getting Rid of Billionaires Isn't 'Un-American'— It's Necessary

That's Farhad Manjoo's take for the 'New York Times'

(Newser) - Farhad Manjoo would like to end our "devastating national love affair with billionaires"—and he thinks the way to do that is to force-phase them out. Writing for the New York Times , Manjoo says he got to seriously thinking about the concept of abolishing the super-rich after reading... More »

Cubs Owner Blasted for Controversial Emails on Obama, Islam

Among others sent by Joe Ricketts

(Newser) - Splinter's "Billionaire's Inbox" offers a look at how "the other half" lives, and its most recent dive is quite the eye-opener. The news outlet got its hands on what the New York Times calls "a cache of racist emails" both sent and received by Joe... More »

Howard Schultz Has Alternative for Term 'Billionaire'

Former Starbucks CEO and possible 2020 contender rephrases to 'people of means'

(Newser) - Former Starbucks CEO Howard Schultz's maybe-campaign for 2020 doesn't seem to be having a great start . In the latest development, Schultz is taking a ribbing for bristling at the term "billionaire" and instead suggesting something like "people of means." The details:
  • The remark: It came
... More »

Abducted Going to Gym, Billionaire Turns Up Near Tennis Court

Mohammed Dewji is now safe at home in Tanzania after 9-day ordeal

(Newser) - Africa's youngest billionaire is back home. Mohammed Dewji, who was seized Oct. 11 by masked gunmen while headed to the gym in the Tanzanian city of Dar es Salaam, has been released, the BBC reports. "I have returned home safely," his company, MeTL Group, quoted the 43-year-old... More »

Billionaires' Honeymoons Are More Eye-Popping Than You Think

Ovation Vacations goes to extremes for its clients

(Newser) - In describing his "consulting crash course" with "a leisure travel consultancy" that plans eye-popping honeymoons for billionaires, Brandon Presser explains that the first order of business is signing a nondisclosure agreement. And yet his piece for Bloomberg still manages to be replete with truly amazing examples of... More »

Her Ex Tried to Hide a $500M Superyacht. It Didn't Work

Tatiana Akhmedova will get 380-foot luxury Luna in her divorce settlement with Russian oligarch

(Newser) - Persistence and a little detective work has paid off for Tatiana Akhmedova, in the form of a $500 million superyacht to be handed over to her by her soon-to-be ex-husband. Reuters and the South China Morning Post report that UK judge Charles Haddon-Cave has ordered Russian oligarch Farkhad Akhmedov to... More »

Trump Still a Multi-Billionaire, but His Ranking Tumbles

He falls to No. 766 in newest ranking by 'Forbes'

(Newser) - President Trump probably won't be happy to see Forbes ' 2018 ranking of the world's richest people—he has fallen from No. 544 to No. 766. The list pegs Trump's fortune at $3.1 billion, $400 million less than in 2017. Forbes notes that New York City'... More »

Billionaire Won't Pay Tax Bill Due to 'Minefield of Poop'

Tom Golisano says infestation of geese is ruining his property, won't pay up until town fixes problem

(Newser) - Billionaire Tom Golisano says he tried stringing up fishing line, spraying smelly repellent, and even posting a wolf decoy, but nothing could rid his New York lakeside vacation home of the Canada geese that turned his lawn into a minefield of poop. His next line of attack? Refusing to pay... More »

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