All articles tagged with #billionaires
A high-profile federal trial in Oakland pits Elon Musk against OpenAI over nonprofit status amid the OpenAI/Microsoft venture, with a nine-member jury set to deliberate on liability and potential remedies. The proceedings spotlight the enormous wealth of tech founders, security and procedural norms for the ultra-rich, live audio feeds, and protests outside, while the judge emphasizes equal treatment regardless of wealth.
A sudden 1,000% surge in a leading cryptocurrency has drawn billionaire bets on a surprise pivot that could lift the crypto market to about $1.6 trillion, a move critics compare to Bitcoin's breakout in 2013.
Los Angeles artist Kyle McDonald created an Apocalypse Early Warning System by tracking private jets worldwide; if a large number of jets flee city centers, transporting their likely affluent passengers to bunkers and resorts, it could serve as a warning sign of a looming disaster, a provocative critique of wealth inequality and surveillance of the ultra-rich.
SpaceX's June Nasdaq listing could top a $2 trillion valuation, potentially creating more new billionaires than any liquidity event in history. Early investors and employees are preparing for windfalls, with family offices forming and relocations to low-tax states, while analysts say the IPO could spur a ripple effect of new companies and luxury travel demand, echoing PayPal's post-2002 impact.
Billie Eilish, on Elle’s cover, says she’ll use her platform to advocate for people and speak out against ICE and wealth inequality; she also denies any falling-out with her brother Finneas, noting they can argue and still collaborate, and has previously criticized billionaires and Elon Musk, including pledging $11.5 million of her tour earnings to charity.
Billie Eilish refutes rumors of a falling-out with brother Finneas, saying they’ll have big fights and bounce back, and stresses that speaking out on political issues is part of their dynamic. In an Elle interview, she defends activism against ICE and billionaire wealth, recalls prior criticisms of Elon Musk, and notes she pledged $11.5 million from tour earnings to charities. She also opened up about touring with less involvement from Finneas at times, but insists their sibling bond remains strong.
On Miami’s Indian Creek Island, joining the Indian Creek Country Club isn’t bought with mansions alone: candidates must be nominated by a current member and approved by a 15‑person board (75% yes), with an initiation fee around $200,000 and annual dues about $20,000; there’s no waiting list or easy entry, and the club’s 18‑hole Flynn-designed course sits amid a private billionaire enclave of roughly 300 residents and is home to mansions of Bezos and others.
New York City and state officials proposed a pied-à-terre tax on non-primary homes over $5 million, aiming to raise about $500 million a year by tapping properties owned by non-residents or via trusts; the plan would affect high-profile owners including Jeff Bezos and Donald Trump, with critics warning it could drive investment away and details like valuation and residency would be determined later.
CBS News outlines how billionaire donors and opaque political groups are shaping fundraising ahead of the 2026 midterms, highlighting the Mandels’ Democratic giving and the intertwined Majority Democrats PAC/The Bench, alongside MAGA Inc. and other Republican outfits, all within a murky donor network and a weakened FEC that raises concerns about transparency and possible coordination.
Sen. Elizabeth Warren proposes the Ultra-Millionaire Tax Act of 2026, a 2% annual net-worth tax on households and trusts over $50 million plus a 1% levy on billionaire wealth and a 40% exit tax. Berkeley economists estimate it could raise about $6.2 trillion over a decade to fund health care, education and other programs, with Democratic co-sponsors but unlikely passage in a polarized Congress; enforcement and concerns about wealth flight are part of the debate.
The Giving Pledge, launched by Warren Buffett and allies like Melinda French Gates to commit vast fortunes to philanthropy, once signaled a transformative trend but now faces backlash and slower momentum as donors reassess ambitious, multi-trillion-dollar goals.
Elon Musk tops Forbes’ 2026 World Billionaires List with an $839 billion net worth—the first person to exceed $800 billion and a potential step toward a trillionaire future—while Larry Page, Sergey Brin, Jeff Bezos and Mark Zuckerberg hold the next spots; newcomers like Dr. Dre and Beyoncé appear, and overall billionaire wealth reaches a new high driven by AI and other markets.
Forbes’ 2026 World's Billionaires list includes three Pittsburgh-area figures—Edward Stack, Thomas Tull, and Maggie Hardy—together worth about $15.1 billion ($5.4B Stack; $5.4B Tull; $4.3B Hardy). Pittsburgh natives David Tepper and Mark Cuban also appear on the list, with Tepper at roughly $23.7B and Cuban at $6B. Jeff Yass is noted as Pennsylvania’s richest at about $67.4B. The rankings, based on stock prices and exchange rates as of March 1, 2026, highlight both local ties and global wealth.
Facing a proposed wealth tax in California, Larry Page and other tech titans are buying Miami estates, spending over $180 million across Indian Creek and nearby neighborhoods, with Brin, Zuckerberg, and Bezos in the wings, making Miami a new billionaire enclave and driving up waterfront home prices.
California billionaires are driving a Miami luxury real estate surge, led by Larry Page’s nine-figure purchases in Coconut Grove, with Sergey Brin and Mark Zuckerberg rumored to be close to deals; the rise is linked to a proposed California billionaire tax and Florida’s zero state income tax, fueling a surge in waterfront property demand as Miami attracts tech and finance moves and launches talent initiatives such as Palantir’s HQ shift and Ambition Accelerated.