Hong Kong billionaire Cheah Cheng Hye has quietly turned a quarter of his fortune into gold, betting that in an era of sanctions, seizures, and geopolitical shocks, nothing beats metal you can touch. “If you have the physical gold in the warehouse or in your bank safe, nobody owes you anything,” he told Bloomberg News…
It’s no secret that billionaires and their superyachts have created quite a stir over the last few years. With the ships seemingly getting larger and their carbon emissions following suit, observers have criticized the superyachts’ impact on the environment. For Russian billionaire Leonid Mikhelson, his impact nearly expanded well beyond the waters of the Balearic…
Jeff Bezos, Amazon’s founder and one of the world’s most influential tech pioneers, is officially returning to hands-on leadership as co-CEO of a new artificial intelligence (AI) venture called Project Prometheus, The New York Times reported, citing three people familiar with the company. This marks Bezos’s most significant operational role since he stepped down as…
Billie Eilish railed against “pathetic” Elon Musk’s multibillionaire status with an expletive-laced message on Thursday. The “Bad Guy” hitmaker, 23, reposted a series of slides via Instagram Stories with ideas on how the 54-year-old could use his money to solve several world issues, from stopping world hunger to saving endangered species. In the singer’s subsequent…
Topline The five richest people in the world are worth nearly a combined $46 billion less Thursday afternoon due to a market sell-off spurred by dumping of artificial intelligence stocks, mixed fourth quarter results from Disney and general economic uncertainty as the longest government shutdown in American history comes to an end. Elon Musk, the…
Bill Gates and Warren Buffett ushered in a new Gilded Era of philanthropic giving, likened in influence to the Rockefellers and Carnegies. But charity work is about to look very different as higher taxes are threatened on liberal institutions, and new methods of giving are popularized by women mega-donors. MacKenzie Scott has become a pioneer…
To his fellow high priests of the church of climate change, Bill Gates has just committed the ultimate heresy. He has told us that we are not all going to die from scorching temperatures, despite in the past having said “we are setting ourselves up for a humanitarian and geopolitical disaster.” In a new essay…
Russia has caught up with the United Kingdom in the number of U.S.-dollar billionaires despite Western sanctions and economic isolation over the war in Ukraine, according to a new global wealth report by the research firm Altrata. Russia’s billionaire population grew 8.5% over the past year to 128 people with a combined wealth of $457…
Tesla Chair Robyn Denholm urged shareholders to back a proposed $1 trillion compensation package for CEO Elon Musk, warning in a letter Monday that the company risks losing “significant value” if the deal fails and Musk opts to step down as chief executive. The plea to investors comes ahead of Tesla’s annual shareholder meeting on…
Mark Cuban says that the elimination of billionaires would trigger a stock market crash, potentially erasing the savings of average Americans. In a post on BlueSky last week, Cuban opposed the idea that wealth inequality could be mitigated by taxing or capping the wealth of billionaires. Cuban, who has built a $6 billion fortune through tech startups, investments,…