millionaires

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Did 'Friday' Really Make Rebecca Black a Millionaire?

Forbes was wrong about the singer's payday, writes Annie Lowrey

(Newser) - Thanks to a song that’s inspired unrestrained hatred, Rebecca Black has been proclaimed a millionaire by no less an authority than Forbes —but that’s unlikely, writes Annie Lowrey in Slate after a quick analysis. For one thing, "Friday" has sold 30,000 copies, Billboard says; Forbes...

Four in 10 Millionaires Don't Think They're Rich
Four in 10 Millionaires Don't Think They're Rich
Poll Numbers
Mar 14, 2011 5:25 PM CDT

Four in 10 Millionaires Don't Think They're Rich

Many say they'd need $7.5 million to feel really wealthy

(Newser) - Poor millionaires. Sure they have more money than around 98% of the population—but does that really make them rich? Around 42% of them don’t think so, and fret over their retirement savings, according to a new survey from Fidelity Investments. “They are still worried about outliving...

Millionaire Finds Kid's Lost Credit Card, Charges Pizza

Dentist had $250 in cash on him

(Newser) - So a millionaire dentist stumbles across some student's lost credit card in a parking lot, and promptly goes inside the store to ... charge $40 worth of pizza? That's the sad-sack story of Richard Ludwig, according to Florida cops, who found him inside Mia Pizza Pasta Kitchen waiting on two pies...

Program Teaches Rich Kids How to Be Rich

6-week program will instruct scions how to handle wealth

(Newser) - Wealthy parents, worry not—your kid no longer has to end up like Billy Madison . Not, that is, if you enroll him in Global Fellows in Social Enterprise, a new internship for the scions of the mega-rich. The idea is to teach the college-age participants how to deal with money,...

Tax Cut Showdown: Dems' Two Options

Must win centrists as Bush cuts expire

(Newser) - When it comes to tax cuts, the Democrats’ options are few. Politically speaking, it’s too late to force the expiration of Bush cuts on those earning more than $250,000. But Dems have two notable choices, writes David Leonhardt in the New York Times : one, to let the Bush...

'Patriotic Millionaires': Raise Our Taxes

A handful of the wealthy form fiscal responsibility club

(Newser) - Some of the country’s richest people are asking President Obama to raise their taxes. More than 40 millionaires have signed onto a group called “ Patriotic Millionaires for Fiscal Strength ,” advocating a rollback of the Bush tax cuts for anyone earning more than $1 million a year. “...

More Than Half of Senators Are Millionaires

And Max Baucus, Debbie Stabenow out of the red

(Newser) - If you’re looking for a recession-proof job, try running for Senate. The combined personal fortunes of the upper chamber members rose 4% to $680 million last year, according to financial disclosure information reviewed by Roll Call . More than half of all senators, 54 lawmakers, are worth more than $1...

Millionaire Population in America Grows

Number of households with more than $1M in assets up to 5.5M

(Newser) - The number of millionaires is on the rise again. The population of rich Americans has been growing over the course of the year, even as the economy has stuttered over the first half of 2009 and poverty has increased . In the 12 months ending in June, the number of American...

US Millionaires Jump 16% as Market Rebounds

Ranks of rich, ultra-rich rising again

(Newser) - They've had a rough couple of years but America's rich are now getting richer again, according to a report from the Spectrem Group. The number of households with over $1 million in assets—not including the primary residence—jumped 16% last year to 7.8 million. The 69% rally in...

College Bosses Earn Record $1M+ Pay

Despite recession, school leaders' pay grows—with tuition

(Newser) - Lean times can go to the back of the class when it comes to college presidents. A record 23 of them raked in more than $1 million last year, up from nine in 2007. Not so surprisingly, many of presidents reigned at institutions among the 58 which charged more than...

How to Spend Your $333M Mega Jackpot

Lottery pot now tops $333M

(Newser) - With the Mega Millions jackpot at $333 million, ABC News investigates the best ways to spend it:
  • A new pad: "I would think they'd want to own a truly extraordinary home," says a real-estate agent. How about 3 townhouses in Greenwich Village, at just $16 million a pop?
...

Israel to US: We Won't Halt Housing in Jerusalem

(Newser) - Amid intense US-Israeli negotiations over settlements, Israel today brushed off Washington’s request to stop an American millionaire's housing project in East Jerusalem, the Jerusalem Post reports. Palestinians have complained that it would change demographics in the Arab-dominated area. But Obama "had crossed a red line" in asking...

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...

Credit Crisis Snips Ranks of Super Rich

Millionnaires' club gets smaller as investments plummet in value

(Newser) - Won't somebody think of the poor millionaires? The global financial crisis has hit the world's "super rich" hard and left many of them merely extremely wealthy, the Financial Times reports. The number of "ultra high net worth individuals" with over $30 million to invest shrank by nearly...

What Really Happened in Astor's House

Millionaire's former staff say abusive son bilked her of $60M

(Newser) - A new book about Brooke Astor portrays the New York philanthropist as a frail, paranoid 105-year-old pressured to give up her fortune. Drawing on notes from Astor's former staff, Mrs. Astor Regrets describes son Tony Marshall's alleged bilking of her millions. Astor's staff "filled 30 journals over four years...

$30M Mansion Sinks Hearst Heiress
$30M Mansion
Sinks Hearst 
Heiress 
GLOSSIES
Nov 10, 2008 5:37 PM CST

$30M Mansion Sinks Hearst Heiress

Spendthift widow overspent on lavish home, lifestyle

(Newser) - Even America's wealthy can live beyond their means, and Veronica Hearst—widow of Randy, the son of newspaper mogul William Randolph—outspent her fortune by millions, Vicky Ward writes in Vanity Fair. Her undoing was the July 2000 purchase of a $30 million mansion in Florida once owned by the...

Foreclosures Soar on Homes Over $1M
Foreclosures Soar on
Homes Over $1M
Sep 27, 2008 5:38 PM CDT

Foreclosures Soar on Homes Over $1M

Foreclosures on million-dollar homes way up since last year

(Newser) - The housing crisis, having wreaked havoc on low- and middle-income homeowners, is moving into the mansion set. Foreclosures on $1 million plus homes have almost doubled since last year, MSNBC reports, and more than doubled for homes over $2 million. The reasons are familiar: layoffs in the executive and professional...

UK Millionaire Set Fire After Killing Family

Footage shows Foster blocking exits before murder/suicide

(Newser) - Police have found the body of a UK millionaire inside the charred remains of his mansion, the Guardian reports. Authorities now believe Christopher Foster fatally shot his wife and teenage daughter, along with three family horses and four dogs, early on Aug. 26 before setting the house ablaze and turning...

N. Dakota's New Crop: Instant Millionaires

Oil far underground makes landowners rich overnight

(Newser) - Many North Dakotans are enjoying their own milkshakes as oil makes landowners instant millionaires. Oil companies are drilling new wells at record rates, and those lucky enough to own the land above deposits are becoming wealthy overnight, the AP reports. "It's the easiest money we've ever made," says...

Axis of Wealth Shifting East
 Axis of Wealth Shifting East 
Jun 25, 2008 2:43 AM CDT

Axis of Wealth Shifting East

India, China claim biggest surge in new millionaires

(Newser) - Nations once known for extremes of poverty—China, India and Brazil—are now producing more of the world's millionaires and super rich than ever before, according to a new study of the globe's wealthiest entrepreneurs. The US is losing ground to emerging markets when it comes to producing personal wealth,...

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