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Two-Timing Tycoon Ordered to Pay Ex-Wife $1B in Cash

It's South Korea's largest ever divorce settlement

(Newser) - Divorce can be expensive, especially when you're a billionaire found to have fathered a child with your lover behind the back of your wife of 35 years. Such is the case for Chey Tae-won, chairman of SK Group, South Korea's second-largest conglomerate. A decade after his marriage dissolved,...

Billionaire's Attempt to Hide Portrait Blows Up in Her Face

Vincent Namatjira's portrait of Gina Rinehart might now be destined for Times Square

(Newser) - Australia's richest woman just met the Streisand effect . Unhappy with a portrait of her featured in the National Gallery of Australia, mining billionaire Gina Rinehart sought to have it removed, the Guardian reports. But the portrait is not only staying put, it's now been shared by media around...

This Beatle Is a Billionaire After Beyonce Boost

After Beyonce's cover of 'Blackbird,' Paul McCartney hits a new milestone

(Newser) - It may seem wild that it took this long, but one of the Beatles is finally a billionaire in the UK, and he has Beyonce to (partially) thank. Paul McCartney and his wife, Nancy, have popped up on this year's "Sunday Times Rich List," with a net...

College Grads Receive a Big Gift, With a 'Catch'

UMass Dartmouth students get $1K each from billionaire Robert Hale, but they have to donate half

(Newser) - Students threw their graduation caps into the air at UMass Dartmouth this week, and they were on the receiving end of quite a surprise during what the college calls an "unforgettable ceremony." CBS News reports that Boston Celtics co-owner Robert Hale served as commencement speaker on Thursday, and...

Musk's Bottom Line Takes a Hit From His Tesla Woes

Mark Zuckerberg displaces Tesla CEO from No. 3 spot on Bloomberg Billionaires Index

(Newser) - While much of social media was commenting Thursday on a fake "bearded Mark Zuckerberg" picture , the Facebook co-founder notched a more substantial achievement: displacing Elon Musk on Bloomberg's Billionaires Index . Zuckerberg, 39, is now third on that list, with a net worth of about $178 billion, while the...

Sam Altman Joins a Pretty Exclusive Club

OpenAI CEO is officially a billionaire, according to Forbes

(Newser) - There's a new billionaire in town. Sam Altman, the 38-year-old CEO of the company that created ChatGPT, is now worth at least $1 billion, according to Forbes , putting him at No. 2,747 on the magazine's list of the world's richest people . Though Altman has no equity...

UK Billionaire, Soccer Team Owner Charged in US With Insider Trading
Billionaire Joe Lewis
Won't End Up Behind Bars

Billionaire Joe Lewis Won't End Up Behind Bars

Ex-Tottenham Hotspur owner, 87, avoids jail time in insider trading case due to age, declining health

(Newser) - Joe Lewis won't see prison after all. The 87-year-old ex-owner of the Tottenham Hotspur soccer team was sentenced on Thursday for his role in an insider trading case that's said to have made his friends and associates millions, but US District Judge Jessica Clarke went easy on him...

Today's 'Baby' Billionaires Didn't Exactly Earn Their Wealth

For the first time, none of the 30-and-under set on 'Forbes' list of youngest billionaires is self-made

(Newser) - There are nearly 2,800 billionaires in the world, as of last count, and 15 of them are 30 or under—and, for the first time, everyone from that younger set has inherited their wealth. It's part of the advent of what Forbes calls the "great wealth transfer,...

Meet the Man Who Financed Trump's $175M Bond

California auto loan billionaire Don Hankey: 'This is what we do'

(Newser) - A Donald financed the $175 million appeals bond to stay the $464 million judgment in former President Trump's New York civil fraud case, but it wasn't Donald Trump. California billionaire Don Hankey of Knight Specialty Insurance, who made a fortune selling high-interest auto loans to people with poor...

Elon Musk Does Not Like MacKenzie Scott's Billions to Charity

Calls fellow billionaire's charitable giving among the reasons 'that Western Civilization died'

(Newser) - MacKenzie Scott has become a power player in philanthropic circles, donating billions to charity since her split with Amazon founder Jeff Bezos in 2019. That charitable giving, however, has apparently attracted the ire of a fellow billionaire: X owner Elon Musk, who had words for Scott on his social media...

After Meeting With Trump, Elon Musk Clarifies One Thing

X owner was spotted at weekend gathering with Trump, wealthy GOP donors in Florida

(Newser) - After a report surfaced that Donald Trump met with Elon Musk as a potential campaign donor over the weekend, Musk is shooting down the possibility. "Just to be super clear, I am not donating money to either candidate for US President," he tweeted Wednesday.

'At What Point Does Hawaii Not Become Hawaii Anymore?'

NPR investigates tech billionaire Marc Benioff's sizable land purchases in small town

(Newser) - In the three-stoplight, agricultural town of Waimea on Hawaii's Big Island, more than 600 acres of land have been scooped up by billionaire Marc Benioff. And while tech tycoons buying vast tracts in Hawaii isn't a new story (or if it is to you, please meet Mark Zuckerberg'...

Jerry Jones Must Take Paternity Test, Judge Rules

Texas judge upholds decision involving suit by woman who says Dallas Cowboys owner is her dad

(Newser) - Father's Day this year might look different for Jerry Jones. A Texas judge on Wednesday nixed an appeal by the owner of the Dallas Cowboys, the most valuable sports franchise in the world, in a 2022 paternity case involving a 27-year-old woman who says Jones, 81, is her biological...

Moving to Florida Has Saved Bezos a Lot of Money

He's selling a lot of stock, and he won't have to pay Washington state's capital gains tax

(Newser) - Jeff Bezos has moved to Miami after almost 30 years in Seattle, and it's going to save America's second-richest resident more than $600 million. The Amazon founder recently sold almost 12 million Amazon shares worth around $2 billion and has filed a plan with the SEC to sell...

This Gambling Bigwig's Salary Is Really Flush, Critics Say

Think tank slams Bet365 CEO Denise Coates' $280M as not being 'sensible or proportionate'

(Newser) - A billionaire gambling exec added to her bank account substantially last year, in a salary increase that has some pushing back. The BBC reports that Denise Coates, founder and CEO of the online gambling firm Bet365, saw a nearly $9 million paycheck bump in 2023, with her salary jumping to...

A Twist in Figma's Rise: Adobe Deal Is Called Off

The companies said they doubted they could secure regulatory approval of the deal

(Newser) - "If this deal fell apart tomorrow, I'd feel just fine," said Figma co-founder Dylan Field when Adobe's planned $20 billion acquisition of the company was announced in September. No word on whether that's how he's feeling after the companies called off the deal Monday,...

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 ...

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 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...

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