Donald Trump at the Women’s British Open Golf Championships in Turnberry, Scotland. AFP via Getty Images A court in Scotland has ruled that Scottish ministers do not have a “duty” to investigate Donald Trump’s purchase of Turnberry Golf Club using an “unexplained wealth order.” The ruling is a victory for the Trump Organization, which has… More
Topline As the surge in oil prices continues amid increasing demand and a supply crunch that has driven up prices for all types of fuels, energy stocks are soaring—in some cases, notching triple-digit returns—while several U.S. oil tycoons watch their net worths spike. Several U.S. billionaires have seen their net worths jump considerably as the… More
A Crown Resorts logo at the entrance to the Crown Melbourne casino and entertainment complex in … [+] Melbourne, Australia, on Wednesday, March 24, 2021. Carla Gottgens/Bloomberg Star Entertainment Group said Friday it pulled its proposed merger with Crown Resorts—controlled by billionaire James Packer—amid allegations of tax evasion and lax money laundering controls at Crown’s… More
Richard Li attends the Milken Institute Global Conference in Los Angeles, California. Jonathan Alcorn/Bloomberg FWD, the Asian insurer backed by Hong Kong billionaire Richard Li, has filed confidentially for an initial public offering in the U.S. PCGI Intermediate, which is FWD’s holding company, said on Thursday that it has submitted a draft registration statement to… More
LONDON, UNITED KINGDOM – JULY 1O: Prince Charles, Prince of Wales, Camilla, Duchess of Cornwall, … [+] Queen Elizabeth ll, Meghan, Duchess of Sussex, Prince Harry, Duke of Sussex, Prince William, Duke of Cambridge, Catherine, Duchess of Cambridge and Princess Anne, Princess Royal stand on the balcony of Buckingham Palace to view a flypast to… More
ASSOCIATED PRESS Charlie Munger is an amazing investor and Warren Buffett’s partner at Berkshire Hathaway. He recently gave an interview to CalTech alumni that has a lot to teach us about investing. There were many insights for investors in that interview, but I want to focus on one segment, where a viewer asks Charlie: “How… More
Hindustan Times via Getty Images Physical place is often a powerful influence on entrepreneurs. One thinks of Steve Jobs growing up in the suburbs south of San Francisco. The unique mashup of cultural rebels and computer geeks inspired Jobs to locate Apple at the intersection of science and art. It’s still the Apple address. The… More
Airbnb cofounders: Chief product officer Joe Gebbia (left), chief strategy officer Nathan … [+] Blecharczyk (center) and CEO Brian Chesky (right). Charley Gallay/Getty Images for Airbnb Airbnb’s much-anticipated initial public offering was well worth the wait for the company’s three billionaire cofounders. Shares soared on their first day of trading Thursday, more than doubling the… More
Topline Billionaire hedge fund manager Leon Cooperman, the longtime chairman and CEO of now-defunct investment advisory Omega Advisors, isn’t bullish on the economy’s long-term outlook, but the short-term should be favorable for stocks—even if election results are challenged, he said on CNBC Friday. Leon G. Cooperman speaks during a conference in New York City back… More
As Zoom Video Communications’ stock has skyrocketed, so too has the fortune of its billionaire … [+] founder. Victor J. Blue/Bloomberg High-flying video conferencing service Zoom, which has seen skyrocketing demand during the coronavirus pandemic, is now worth more than ExxonMobil, one of the world’s largest oil and gas companies. As of 2:30 p.m. ET,… More
Intel’s stock tumbled nearly 11% on Friday, lowering Moore’s net worth to under $10 billion. Justin Sullivan/Getty Images Gordon Moore, the world’s 48th-richest person, shed $1 billion from his fortune on Friday as Intel INTC stock plummeted on the back of disappointing third-quarter earnings. Shares of Intel, which Moore cofounded in 1968, fell nearly 11%… More
Under Sheth’s watch, Vista Equity Partners has conducted more software acquisitions than any other … [+] company or investor in recent years. Patrick T. Fallon/Bloomberg Following billionaire Robert Smith’s admission to tax fraud last week, one of his private equity firm’s top dealmakers—cofounder and president Brian Sheth—looks set to depart. While Sheth—who launched Vista Equity… More
Topline President Trump made over $11 million endorsing two multi-level marketing companies in the 2000s for which he and his children would later be sued for fraud, according to the New York Times, which revealed for the first time how much money the future president received for hawking the MLMs, and that those two endorsements… More
Getty This story is part of Forbes’ coverage of Singapore’s Richest 2020. See our full coverage here. Pandemic-induced economic pains have pushed Singapore into recession. For the quarter ended in June, the trade-dependent country reported a year-on-year 13.2% drop in GDP, despite $68 billion in stimulus packages by the government to shore up the economy. The benchmark… More
TOPLINE Apple hit a new milestone on Wednesday, becoming the first publicly traded U.S. company to reach a market capitalization of over $2 trillion and doubling in valuation over the last two years. Apple CEO Tim Cook. Taylor Hill/WireImage KEY FACTS The iPhone maker’s stock is up almost 55% so far in 2020, and shares… More
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