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Hermes Heir, 80, Wants to Adopt 51-Year-Old Ex-Gardener

Laws in Switzerland may stymie Nicolas Puech's new plans for his $11B fortune

(Newser) - Nicolas Puech may be 80, but he has apparently decided that's not too old to adopt a son. The problem is, the "boy" that the Hermes heir would like to welcome into the family fold is his 51-year-old "former gardener and handyman," per Swiss newspaper Tribune ...

12 Richest People Cause More Pollution Than 2M Homes

New Oxfam report points the finger at the 1% for more carbon emissions than poorest 2/3 of world

(Newser) - If you're feeling guilty that you haven't yet bought an EV or installed solar panels on your roof to cut down on your portion of greenhouse gases, you're (somewhat) off the hook—you can blame the 1% for a lot of that pollution. A new Oxfam International...

After 3 Decades, a Big Move for Bezos

Amazon founder is pulling up stakes and relocating from Seattle, where he's lived since 1994, to Miami

(Newser) - Hear "Miami," and thoughts of palm trees, Cuban food, and art deco architecture all come to mind. Now, add Jeff Bezos to that list: The Amazon founder announced this week that he's moving to the South Florida city and ditching Seattle after almost 30 years, reports the...

He's Only the Fourth Athlete Billionaire

Former NBA great Magic Johnson joins the club thanks to savvy investments

(Newser) - Michael Jordan, Tiger Woods, LeBron James, and now Magic Johnson. The former NBA star has joined the exclusive club of athletes-turned-billionaires. Forbes estimates the 64-year-old's net worth to be $1.2 billion, thanks to his ownership stakes in various sports teams and other investments. Johnson has stakes in the...

'Great Economist' Taylor Swift Is Now a Billionaire

Bloomberg says she has 'significant economic power'

(Newser) - When it added Taylor Swift to its list of highest-paid entertainers last year, Forbes said she might have an "even bigger 2023"—but it didn't predict that she'd become a one-woman economic powerhouse. The record-breaking "Eras" tour has helped make the 33-year-old a billionaire, according...

He Made $8B, Quietly Gave Almost All of It Away
He Made $8B,
Quietly Gave
Almost All
of It Away
in case you missed it

He Made $8B, Quietly Gave Almost All of It Away

Charles Feeney, who founded Atlantic Philanthropies, Duty Free Shoppers, dies at age 92

(Newser) - Almost seven years ago, Charles Feeney achieved what the New York Times calls a "rarity in the philanthropic world": He managed to fulfill his promise to clear out the coffers of Atlantic Philosophies, the foundations group he founded in the '80s, and give away nearly all of his...

Trump Didn't Make This List, and He's Not Happy

Former president slams 'Forbes' after not making it into the magazine's top 400 billionaires

(Newser) - This year's Forbes 400 list of America's richest came out last week, and the magazine notes the "superrich are riding high again," making back $500 billion they collectively lost last year. Elon Musk tops the list with his $251 billion, followed by the usual suspects of...

Rush Limbaugh's $155M Estate Is Being Demolished

Cosmetics heir William Lauder, who bought Palm Beach property in March, has begun teardown

(Newser) - What does it feel like to have so much money that you can buy property worth more than $100 million, then knock down the posh home there just because? Ask William Lauder, who apparently serially razes mansions. Via Yahoo Finance , USA Today reports that the cosmetics billionaire, executive chair of...

Reward for the Super Rich: $14M a Day

That's how much the billionaires on Bloomberg's richest list made in the first half of the year

(Newser) - The stock market had a strong first half of the year, with the benchmark S&P rising 16% and the tech-heavy Nasdaq up an even stronger 39%. All of which translates into some hard-to-fathom profits for the richest of the rich. According to Bloomberg , the 500 people on its Billionaires...

Ahead of ProPublica Report, Alito Hits Back

Outlet reveals Supreme Court justice flew for free on billionaire's jet; Alito pens 'WSJ' op-ed about it

(Newser) - Supreme Court Justice Samuel Alito beat ProPublica to the punch Tuesday, publishing an op-ed that responded to questions about possible ethics violations before ProPublica had published its own report. But publish it did . The report describes how hedge fund billionaire Paul Singer, who brought a high-stakes case before the nation'...

Billionaire Offers Surprise Gift to Grads at Commencement

Robert Hale gifts $1K to each UMass Boston student during ceremony, with a heartwarming catch

(Newser) - Students being honored at Thursday's graduation ceremony at UMass Boston not only received their diplomas—there was also an extra-special gift waiting for them, courtesy of commencement speaker Robert Hale, the billionaire CEO of Granite Telecommunications and part owner of the Boston Celtics. CNN reports that as the university'...

The Artist Formerly Known as Kanye West Is No Longer a Billionaire
Ye Is Off
the Billionaires List

Ye Is Off the Billionaires List

And Elon Musk drops from No. 1 to No. 2

(Newser) - Ye, the artist formerly known as Kanye West, is a billionaire no longer. He was on the Forbes' billionaires list last year with an estimated net worth of $2 billion, but after Adidas terminated its partnership with the controversial rapper, his net worth dropped to an estimated $400 million, CBS...

Missing Chinese CEO Is 'Cooperating' in Gov't Investigation

His company, China Renaissance, now says founder Bao Fan is cooperating with government

(Newser) - Bao Fan, the billionaire Chinese investment banking CEO who has disappeared, is "cooperating in" a government investigation, according to China Renaissance Holdings, the company he founded and runs—and which reported him missing weeks ago. The company's board has since "become aware that Mr. Bao is currently...

Oxfam Says It's Time for 'Billionaire-Busting' Taxes

Since 2020, two-thirds of all new wealth created has gone to 1%, group says

(Newser) - Oxfam has once again released startling figures on inequality to mark the opening of the World Economic Forum in Davos, Switzerland. Over the last two years, two-thirds of all new wealth created has gone to the richest 1% of the world's population, up from an average of around 50%...

Elon Musk Has Now Lost the Most Money in History

Bloomberg reports he has become the first person to lose $200B

(Newser) - A little over a year ago, Elon Musk was sitting on the astronomical sum of about $340 billion in net worth, making him the richest human on the planet by a wide margin. Today, Bloomberg reports that Musk has became the first person in history to lose $200 billion. The...

Billionaires: You're Not as Genius as We Think You Are

Fall of FTX's Sam Bankman-Fried anchors 'WaPo' op-ed on rich-person idolization

(Newser) - Up until recent weeks, Sam Bankman-Fried, founder of the cryptocurrency exchange FTX, was a media darling, appearing on the cover of Fortune magazine and interviewed for his thoughts on everything from the crypto landscape in general to "how to save humanity from extinction." Now, with the collapse of...

MacKenzie Scott Gives Girl Scouts Its Biggest Gift Ever

Philanthropist donates more than $84M to group

(Newser) - Philanthropist MacKenzie Scott donated $84.5 million to Girl Scouts of the USA and 29 of its local branches, the 110-year-old organization said Tuesday, calling it a vote of confidence. "Her support of our organization means honestly just as much as the donation," Sofia Chang, CEO of GSUSA,...

Name of MacKenzie Scott's Husband Quietly Disappears
MacKenzie Scott Quietly
Files for Divorce

MacKenzie Scott Quietly Files for Divorce

Her second husband had disappeared from joint philanthropy efforts

(Newser) - Update: MacKenzie Scott has indeed split with her second husband. The billionaire philanthropist, 52, filed for divorce from science teacher Dan Jewett on Monday after less than two years of marriage, reports CNN . The papers were filed in King County Superior Court in Washington state, though no further details were...

Even With $2.5B, Oprah Isn't Among 400 Richest in US

Kanye West doesn't make the cut, either, though Donald Trump does

(Newser) - Donald Trump has found his way back onto Forbes' list of the 400 richest Americans. The former president was excluded in 2021 for the first time in 25 years. But with an estimated net worth of $3.2 billion—up from $2.5 billion last year—he's back for...

Tech Tycoons Have Had a Rough Year. None Like Zuckerberg

Meta CEO has hemorrhaged $71B since Jan. 1—more than half his wealth

(Newser) - Don't worry, Mark Zuckerberg is still a billionaire—but he's lost many, many of those billions over the past several months. In what Bloomberg describes as a rough year for most tech billionaires, it's been an especially bumpy one for the Meta CEO: He's lost $71...

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