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All articles tagged with #billionaires

Sunshine State Lures Billionaires as West Coast Tax Proposals Trigger Exodus
real-estate2 days ago

Sunshine State Lures Billionaires as West Coast Tax Proposals Trigger Exodus

Wealthy tech founders are pulling up stakes from California and Washington to Florida to dodge proposed wealth taxes and benefit from no income tax and a business-friendly climate, pouring hundreds of millions into Florida luxury real estate and fueling a high-end market in Miami; the shift could also undermine California's $100 billion tax goal, with movers like Larry Page, Sergey Brin, Jeff Bezos, Mark Zuckerberg, Larry Ellison, Ken Griffin, Peter Thiel, and Howard Schultz buying property or relocating operations.

via Fortune|
#billionaires#florida#migration
Maezawa's $350M superyacht surfaces off Hawaii coast
world10 days ago

Maezawa's $350M superyacht surfaces off Hawaii coast

Japanese billionaire Yusaku Maezawa’s $350 million Nausicaa superyacht was spotted off Hawaii’s Oahu coast near Waikiki and Molokai, drawing curiosity and local concern about environmental impact; built by Lürssen and designed by Marc Newson, the vessel can host up to 18 guests in nine cabins with a crew of more than 36, and features a sushi bar, two-level art gallery, helipad, pools and a 2-megawatt battery enabling silent operation when anchored.

via New York Post|
#billionaires#hawaii#maezawa
AI Riches Spark Hidden Mega-Yacht Boom in Off-Market Deals
business13 days ago

AI Riches Spark Hidden Mega-Yacht Boom in Off-Market Deals

A discreet network of yacht brokers is fueling a surge in off-market mega-yacht sales driven by AI-fueled wealth and a rising tide of billionaires, with top vessels (megayachts and gigayachts) commanding higher prices and faster sales through NDA-protected, relationship-driven deals; brokers earn about 2.5% commissions on deals over $10 million, while the luxury trend raises questions about what happens if the AI wealth bubble bursts.

via Business Insider|
#ai-wealth#billionaires#business
Federer exits billionaire club as On Holding shares plunge erases fortune
business13 days ago

Federer exits billionaire club as On Holding shares plunge erases fortune

Roger Federer’s billionaire status disappeared after On Holding’s 19% share drop wiped out an estimated $52 million of his stake, lowering Forbes-estimated net worth to about $952 million. His wealth heavily hinges on a 2.5% stake in On and a string of endorsements, including a landmark Uniqlo deal, with most of his earnings originating from his playing career and brand partnerships.

via New York Post|
#billionaires#business#endorsements
Fridge Magnets to a $2 Billion E‑commerce Empire: The Pattern Tale of Utah’s Billionaire Couple
business16 days ago

Fridge Magnets to a $2 Billion E‑commerce Empire: The Pattern Tale of Utah’s Billionaire Couple

A decade after reselling fridge magnets from a living room, Melanie Alder and David Wright built Pattern into a Nasdaq‑listed e‑commerce accelerator that buys brands and markets them across 70+ marketplaces, driving a roughly $2.2 billion combined fortune with about $2.5 billion in revenue in 2025; the Utah couple, married in 2018 and parents to 10 children, have weathered leadership upheavals and a 2022 sexism lawsuit (settled in 2024) as they push toward AI‑driven marketplaces while remaining heavily tied to Amazon.

via Forbes|
#billionaires#business#e-commerce
Nobel economist dares Musk to donate $1 trillion by 2036, Musk hints at taking action
business29 days ago

Nobel economist dares Musk to donate $1 trillion by 2036, Musk hints at taking action

Nobel economist Daron Acemoglu challenged Elon Musk to pledge to donate his roughly $1 trillion fortune by 2036 to charity; Musk replied that he’s “actually going to do something along these lines,” signaling a potential shift from his historical philanthropy pattern and prompting questions about whether the world’s richest man will follow through.

via Yahoo Finance|
#billionaires#business#daron-acemoglu
Korean AI tycoon hit with $645M divorce judgment in the 'divorce of the century'
business1 month ago

Korean AI tycoon hit with $645M divorce judgment in the 'divorce of the century'

An appeals court in South Korea ordered SK Group chairman Chey Tae-won to pay about $645 million to his ex-wife Roh Soh-yeong, ending a decade-long divorce saga dubbed Korea’s 'divorce of the century' after Roh sought half his fortune; the court valued Chey's wealth at roughly $5 billion before SK Hynix's AI-driven surge and granted about one-third, with possible further appeals to the Supreme Court.

via New York Post|
#ai#billionaires#business
Mamdani Signals Mail for NYC’s Wealthy Pied-à-Terre Owners
politics1 month ago

Mamdani Signals Mail for NYC’s Wealthy Pied-à-Terre Owners

New York City is mailing notices to owners of non-primary homes valued at $5 million or more about a new pied-à-terre tax that starts at 0.8% and rises to 1.3% for properties valued at $25 million+, with officials estimating about $500 million in annual revenue and more than 11,000 affected homes. The city has launched a FAQ page and an eligibility tool for property owners. Among those named or highlighted are Jeff Bezos, Donald Trump, Jay-Z and Beyoncé, and Ken Griffin, who could face a $1.3–$1.4 million bill if his NYC pied-à-terre is subject to the tax.

via Business Insider|
#billionaires#new-york-city#pied-a-terre-tax
Bay Area billionaires flood California politics with $336M this year
politics1 month ago

Bay Area billionaires flood California politics with $336M this year

Fifteen billionaires have poured $336 million into California and national politics this year, per a California Common Good report, led by Chris Larsen (Ripple), Sergey Brin, and venture capitalists Marc Andreessen and Ben Horowitz; Larsen gave about $28 million personally, Brin about $86 million, and Ripple around $56 million, with their combined personal spend totaling $209 million and total footprint (including corporate giving) about $331 million—underscoring the Bay Area's outsized influence on state and federal elections and measures like Proposition D.

via Mission Local|
#billionaires#california#campaign-finance
Silicon Valley Billionaires Launch $87 Million Ad Blitz Against California Wealth Tax
us-politics1 month ago

Silicon Valley Billionaires Launch $87 Million Ad Blitz Against California Wealth Tax

A coalition of billionaires, including Sergey Brin, has reserved about $87 million in California ad time to oppose Proposition 40, a proposed one-time wealth tax on residents with a net worth of $1 billion or more. The advertising campaign, set to begin next month, marks a high-profile clash over the measure and underscores the influence of Silicon Valley wealth in state politics as some billionaires have already relocated or spent heavily in related campaigns.

via The New York Times|
#advertising#billionaires#california
Sun Valley Summit Turns Private Jet Haven for Billionaires
business1 month ago

Sun Valley Summit Turns Private Jet Haven for Billionaires

Allen & Co.’s invite-only Sun Valley Conference turns Friedman Memorial Airport into a busy private-jet hub, with an estimated 300–350 jets daily as tech and media titans converge for off-the-record talks. Attendees such as Bezos, Cook, Zuckerberg and others are expected, and AI topics and media deals are likely on the agenda, continuing Sun Valley’s history as a discreet, deal-making gathering.

via Business Insider|
#allen-and-co#billionaires#business
politics2 months ago

Newsom bets on a national wealth tax to redefine Democratic economics

California Gov. Gavin Newsom is pushing a national wealth tax as part of a broader populist economic agenda, even as he fights California’s own wealth tax on the ballot. The strategy aims to frame Democrats as fighters for a fairer economy and could influence his national profile ahead of a potential 2028 run; it also includes a proposal for a national public equity fund tied to AI profits and has drawn both sharp opposition and cautious support within the party.

via Politico|
#billionaires#california#gavin-newsom