CALIFORNIA | LOCAL
September 3, 2013 |
Billionaire developer Rick Caruso will be allowed to moor his 216-foot mega-yacht in Newport Beach after obtaining a special permit from the city. In mid-August, to the chagrin of several citizens, the Newport Beach Harbor Commission voted to allow two large yachts - including Caruso's - to moor for a set period of time near the west end of Lido Isle. Neighbors voiced concerns over potential noise and safety problems, in addition to citing a lack of transparency in the decision-making process.
August 14, 2013 |
Oracle Chief Executive Larry Ellison hasn't spent much time around the media during the run-up to the 2013 America's Cup final -- his boat is the defending champ -- but the tech billionaire spoke up this week, discussing changes to the traditional race and the accident that killed British sailor Andrew “Bart” Simpson. The Cup holder gets to dictate the parameters of the next race. As owner of Oracle Team USA, Ellison decided to hold it in San Francisco Bay instead of open sea. He also selected the AC72 catamaran, a boat that some believe is too expensive and dangerous.
August 7, 2013 |
WASHINGTON - California billionaire and clean energy philanthropist Thomas Steyer is spending $400,000 on television ads critical of Virginia Republican gubernatorial candidate Ken Cuccinelli, the latest effort by the former hedge-fund-manager-turned-environmental activist to inject climate change into statewide elections. Steyer's donation through his political action fund, NextGen Climate Action, helped widen distribution of a League of Conservation Voters ad against Cuccinelli from northern Virginia to Norfolk, Richmond and Charlottesville, starting Wednesday night.
July 19, 2013 |
In April 2004, Rajat Gupta gave a talk at Columbia University. One student asked the former global managing director of McKinsey & Co. for his views on money and wealth creation. "Yeah, I am driven by money.... However much you say that you will not fall into the trap of it, you do fall into the trap of it," he said. Those words would prove prescient. Eight years after he uttered them, Gupta was convicted by a New York court of insider trading, of leaking privileged information gleaned from his position on the board of Goldman Sachs to Raj Rajaratnam, founder of the hedge fund Galleon.
July 8, 2013 |
Shazam, the mobile app that instantly recognizes songs and TV commercials, has announced a $40-million round of funding led by Mexican billionaire Carlos Slim. The app, which users turn on when they hear a song that they want to identify, said the funding is being headed up by Slim's company, America Movil, one of the world's largest wireless communication firms. Shazam Chief Executive Rich Riley called the investment a milestone. “It's a great continuation of the incredible momentum that we have,” he said.
CALIFORNIA | LOCAL
June 19, 2013 |
MENLO PARK, Calif. - In their first joint interview since their multimillion-dollar Big Sur wedding drew controversy and a $2.5-million Coastal Commission fine, billionaire Napster founder Sean Parker and his newlywed wife, Alexandra Lenas, said they tried to do everything right to ensure their event was environmentally sensitive. For the former Facebook president's June wedding, the couple trucked in plants and flowers, dug an artificial pond and erected a stone bridge and elevated dance floor amid the old-growth forest near the Ventana Inn & Spa. The one thing they did not do was apply for a permit.
CALIFORNIA | LOCAL
June 18, 2013 |
MENLO PARK, Calif. - It was bad enough that his multimillion-dollar wedding became a symbol of Silicon Valley excess. But then billionaire tech guru Sean Parker was blasted in the headlines as an environmental menace over party preparations that had allegedly damaged Big Sur's storied redwoods. The Napster co-founder and former Facebook president wed singer-songwriter Alexandra Lenas on June 1 in a campground owned by the posh Ventana Inn & Spa. To set the scene for their fantasy, the couple trucked in plants and flowers, dug an artificial pond and erected a stone bridge and elevated dance floor amid the old-growth forest.
June 8, 2013 |
A Saudi Arabian billionaire prince has sued Forbes magazine in London, accusing the publication of underestimating his wealth in its highly scrutinized annual list of the world's richest people. Prince Alwaleed bin Talal claims the magazine was "deliberately biased" when ranking him at a lowly 26th place in its 2013 tally of the super wealthy, according to court documents cited by the United Kingdom's Guardian newspaper. The magazine pegged his net worth at $20 billion. The prince claims it is closer to $30 billion.
May 23, 2013 |
Janet Jackson has reportedly joined the billionaires club. Funny thing: The singer isn't actually a billionaire. The pop star, 47, was named a "billion dollar entertainer" by Variety, but depending on how you calculate net worth, it doesn't actually mean she's a billionaire at all. In fact, the only "billionaire"-related reference from Variety comes in the form of a small black label on the article that actually reads "Billion-dollar entertainer:...
May 17, 2013 |
After months of controversy, the owner of St. John's Health Center said it plans to sell the landmark Santa Monica hospital to Catholic chain Providence Health & Services. The hospital has been at the center of an intense competition that featured bids from UCLA Health System, other Catholic hospital chains and Los Angeles billionaire Patrick Soon-Shiong. After weighing the offers, the Sisters of Charity of Leavenworth Health System in Denver said Friday that it was entering exclusive negotiations with Providence, which owns St. Joseph Medical Center in Burbank and four other Southern California hospitals.