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Wealth

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SpaceX IPO details push Musk’s net worth to a record $722B
business3 days ago

SpaceX IPO details push Musk’s net worth to a record $722B

Elon Musk’s estimated net worth jumped to a record $722 billion after SpaceX’s IPO prospectus revealed only a tiny pledge of his SpaceX shares as collateral, prompting Bloomberg to remove a $45 billion liability and boosting his wealth by that amount for the year amid soaring Tesla and SpaceX valuations—with Musk owning about 11% of Tesla and roughly 50% of SpaceX, which is valued north of $1.5 trillion and could further expand his stake via recent pay packages.

via Business Insider|
#bloomberg-billionaires-index#business#elon-musk
Bezos says tax hikes on the rich won’t fix everyday Americans’ problems
business6 days ago

Bezos says tax hikes on the rich won’t fix everyday Americans’ problems

Jeff Bezos argues that raising taxes on the ultra-wealthy won’t help the average American, saying a policy that demonizes billionaires won’t solve real issues like what a Queens teacher faces. He notes that many households don’t pay income tax and contrasts that with his own vast wealth. New York City Mayor Mamdani pushes higher taxes on the wealthy, including a pied-à-terre tax, while NYC business and luxury markets show resilience. Public polling and several states have explored or enacted billionaire taxes, but federal action remains unlikely with Republicans in power.

via NBC News|
#bezos#business#inequality
Jets as Doom Signals: Tracking the Ultra-Rich's Escape
economy17 days ago

Jets as Doom Signals: Tracking the Ultra-Rich's Escape

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.

via The Washington Post|
#air-travel#billionaires#conspiracy-theories
NYC Billionaire Exodus Threatens City’s Economic Pulse Amid Mamdani Policies
business18 days ago

NYC Billionaire Exodus Threatens City’s Economic Pulse Amid Mamdani Policies

New York City officials and business leaders are scrambling to halt a billionaire exodus sparked by Mayor Zohran Mamdani’s anti‑wealth rhetoric, launching Operation Boomerang to persuade firms and executives to stay as Florida and Texas draw away capital and jobs; though city officials insist the economy remains strong, analysts warn NYC could lose its financial crown if the outflow continues.

via New York Post|
#business#exodus#new-york-city
What We Thought Were Rich People Stuff as Kids (And Why It Made Sense Then)
lifestyle1 month ago

What We Thought Were Rich People Stuff as Kids (And Why It Made Sense Then)

BuzzFeed’s Nostalgia Nerd compiles a list from a Reddit thread about the things people believed were “rich people stuff” as kids—from fridges that dispensed ice and water and home pools to Viennetta ice cream cake and multiple TVs—highlighting how early perceptions of cost and status shaped what felt out of reach, and showing that many items felt luxurious more in imagination than in actual expense.

via BuzzFeed|
#childhood#lifestyle#nostalgia
Geffen Ends 2-Year Marriage With Private Divorce Settlement Amid Salacious Claims
celebrity1 month ago

Geffen Ends 2-Year Marriage With Private Divorce Settlement Amid Salacious Claims

Billionaire David Geffen, 83, has reached a private divorce settlement with his 33-year-old ex-husband Donovan Michaels after a bitter split that included drug-and-sex allegations; the terms remain undisclosed, Michaels reportedly dropped his lawsuit and mediation will resolve remaining financial issues. Geffen has previously provided spousal support and housing, and the couple did not have a prenup, ending a marriage that lasted just under two years.

via thedailybeast.com|
#celebrities#celebrity#divorce
Caudwell’s Grounded Playbook: How Eight Kids Stay Humble and Driven
lifestyle2 months ago

Caudwell’s Grounded Playbook: How Eight Kids Stay Humble and Driven

British billionaire John Caudwell describes raising eight children (ages 2–47) with hands-on, frugal parenting: no nannies, quality time and schooling from 9 a.m. to 4 p.m., economy travel, budget clothes from Zara/Primark, modest gifts, and financial support tied to effort, all wrapped in unconditional love and disciplined guidance to help them be happy and contribute to a better world.

via Business Insider|
#british-billionaire-john-caudwell-describes-raising-eight-children-ages-2-47-with-hands-on-frugal-parenting-no-nannies-quality-time-and-schooling-from-9-am-to-4-pm-economy-travel-budget-clothes-from-zaraprimark-modest-gifts-and-financial-support-tied-to-effort-all-wrapped-in-unconditional-love-and-disciplined-guidance-to-help-them-be-happy-and-contribute-to-a-better-world#caudwell#family
Bloomberg Leads $22.4B Philanthropy Ranking Amid Privacy Gaps
business2 months ago

Bloomberg Leads $22.4B Philanthropy Ranking Amid Privacy Gaps

America’s top 50 philanthropists gave $22.4 billion in 2025, per the Chronicle of Philanthropy, led by Michael Bloomberg with $4.3 billion. MacKenzie Scott was excluded because her donors declined to confirm donor-advised fund contributions, and the ranking does not count DAF disbursements to avoid double counting. The piece notes rising privacy among ultra-wealthy donors, with Elon Musk and Larry Ellison not appearing due to lack of cooperation. Only about 19 Forbes 400 members show up on the Philanthropy 50, highlighting how much giving remains private.

via CNBC|
#business#donor-advised-funds#giving
Epstein’s Wealth Under the Microscope as Ex-Accountant Testifies
politics2 months ago

Epstein’s Wealth Under the Microscope as Ex-Accountant Testifies

House investigators pressed Epstein’s longtime accountant Richard Kahn in a closed deposition on Capitol Hill to understand how Epstein built his fortune and his ties to powerful financiers. Kahn said he hadn’t seen evidence of abuse and characterized Epstein’s money as coming from his work as a tax advisor and financial planner, while lawmakers highlighted significant funds from figures like Les Wexner and Leon Black and noted Epstein’s connections to dozens of entities; they’ve reviewed thousands of documents from JPMorgan Chase and Deutsche Bank as they seek a fuller picture of Epstein’s finances.

via PBS|
#deposition#epstein#house-oversight-committee
Elon Musk Tops Forbes List as Richest Ever with $839B Fortune
business2 months ago

Elon Musk Tops Forbes List as Richest Ever with $839B Fortune

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.

via Robb Report|
#ai-boom#billionaires#business
Kathy Ireland Alleges Ex-Managers Looted Her Wealth
business2 months ago

Kathy Ireland Alleges Ex-Managers Looted Her Wealth

Kathy Ireland, the former supermodel turned branding mogul, filed a Santa Barbara lawsuit accusing her longtime business managers of looting millions from her licensing empire, draining home equity and life insurance, and leaving her family in debt after she says they misrepresented her financial health and controlled investments for their own benefit; the suit seeks damages potentially in the tens of millions to $100 million.

via Variety|
#business#fraud#kathy-ireland