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.
May 15, 2013 |
A high-stakes bidding war has erupted for St. John's Health Center, a storied Santa Monica hospital, with a local billionaire teaming up with the Roman Catholic Archdiocese of Los Angeles on an unsolicited offer. The latest bid, expected to be formally announced Wednesday, comes from former drug-company executive and healthcare entrepreneur Patrick Soon-Shiong, who said in a statement the bid has the support of the archdiocese. This offer is competing against at least two other bidders'.
May 3, 2013 |
The Oracle of Omaha has taken to Twitter. The notoriously tech-shy billionaire launched his @WarrenBuffett handle Thursday, where he quickly garnered more than 180,000 followers. He is the second-richest person with a verified Twitter account, after tech mogul Bill Gates (@BillGates.) His first tweet: "Warren is in the house. " Twitter might be a perfect medium for Warren Buffett, who has built a reputation for a folksy approach to investing. But it's also a surprising move given that he's not exactly the most tech-savvy person on the planet.
April 27, 2013 |
BEIJING-- The rabbit and the rat are finally coming home. Two bronze heads that were looted from Beijing's old Summer Palace in 1860 are to be returned to China this year by a French billionaire who acquired them from Christie's auction house, Chinese state media reported. The donation was announced late Friday by Francois-Henri Pinault, heir and chief executive of luxury fashion conglomerate Kering Inc., which is expanding its business in the booming Chinese market. Pinault was part of a business delegation accompanying French President Francois Hollande to China.