Mansions: Who's Buying & Who's Selling What New Mansions: Who's Building What Where
From Yachts, Cars, to Clothes. See What Are The Hottest Millionaire & Billionaire Items
Murder At Windswept Farm. Shown on left and bottom is the 300 acre Windswept Farm In
North Salem, NY., site of today’s murder of millionaire Lois Colley,
wife of McDonald’s franchise millionaire Eugene Colley. The family made
headlines in 2003 after their son Bruce Colley’s affair with Kerry
Kennedy Cuomo, wife of Gov. Andrew Cuomo, led to the Cuomos’ divorce. All the details just follow link.
Billionaire financier Kirk Kerkorian, one of the founders of modern Las Vegas, whose name is synonymous with some of the Strip’s best-known hotel-casinos, died Monday night in Los Angeles after a brief illness.
who turned 98 on June 6, was the largest shareholder in MGM Resorts
International, which he founded in the early 1990s. See his home in Beverly hills below.
Read about his life and obituary here at - http://www.reviewjournal.com/business/casinos-gaming/billionaire-las-vegas-mogul-kirk-kerkorian-dies-los-angeles
We have found many people enjoy reading about the rich and, their problems, lawsuits, real estate transactions, and just plain gossip. This was one of the reasons we were interested in started this and many other websites dealing the the super wealthy. Unfortunately we are trying to keep up with too many websites at one time and it is actually hurting our businesses because we just cant keep up with all 8 sights at once and produce quality content for them all. We don't make a lot of money doing this, it is mostly for those less fortunate and people who really need money, though our product is excellent and we would like to start promoting it to a larger audience, such as home builders, stock brokers, money managers, home construction contractors, and the list goes on and on. This is where someone that is interested in the wealthy, willing to give their opinions, and write about the ridiculous things they do to make us say "WHAT?'
Above: The Mugshot From Pastor Creflo Dollar Child Abuse Case.
You may have heard the story a few months ago about an Atlanta-based minister who claimed he needed a $65 million private jet so he could "safely and swiftly share the Good News of the Gospel worldwide." But almost as quickly as Pastor Creflo Dollar (Ya, we bet this is his real name) asked his 200,000 followers to each donate $300.00 towards the purchase of a luxurious jet, the campaign vanished and was removed from his website.
But now, the board of World Changers Church International -- which also operates as Creflo Dollar Ministries, has announced it is ready to purchase the plane.
"We plan to acquire a Gulfstream G650 because it is the best, and it is a reflection of the level of excellence at which this organization chooses to operate."
This has got to be one of the biggest shams ever, and there's so much delusion it's hard to even figure out where to begin.
Let's start with the money. Imagine what could be accomplished with $65 million! That's a lot of money. Do you think Jesus would have wanted his earthly representatives traveling the globe in luxurious accommodations? Or do you think Jesus would have wanted to see that $65 million used to feed the poor, help the homeless, improve education, or just make some kind of huge impact to help humanity?
World Changers Church International said, "A long-range, high-speed, intercontinental jet aircraft is a tool that is necessary in order to fulfill the mission of the ministry."
Sure, who wouldn't want such a nice aircraft to travel the world? I know I would and I bet you would, too. And if you're one of the few people in this world who can afford one, go for it! But when you start hitting up your congregants -- many of whom struggle with their day-to-day finances and barely have enough money to provide the basic necessities for themselves and their families -- that's when something has to be done.
What about flying commercially? Jesus traveled on foot and by donkey. Granted there were no Gulf Stream G650s back in the day, but if there were somehow I don't think you would have seen Jesus flying around in one. Dollar resides in Atlanta, the city with the world's largest airport with flights to every major international destination on a daily basis. Certainly it would be more cost effective for his flock to do their work around the world this way.
But after all, God told him to buy the plane. Dollar said, "If I want to believe God for a $65 million plane, you cannot stop me. You cannot stop me from dreaming. I'm gonna dream until Jesus comes."
I don't know what's worse: the fact that Creflo Dollar believes God spoke to him and told him to buy this jet, or the fact that people are so gullible and delusional and are actually supporting this guy. Of course, as Dollar puts it, it's simply part of what he calls "prosperity theology," in other words, giving of your own money to the church because by doing so your level of personal wealth is blessed and will grow significantly.
It's not surprising, really, that people buy into this nonsense. After studying mental toughness training for the last 31 years, there's a definite pattern of people who are operating from a weak state of mind to be more vulnerable to the suspension of critical thinking and doing anything that makes them feel better. Being addicted to the emotion of hope is a killer, so when Pastor Dollar tells them to give $300.00 and reminds them of the promise of everlasting life, a mansion in the sky and being reunited with loved ones, it sure sounds pretty good.
The bottom line: It's time for people to wake
up and stop being stupid! Stop being manipulated and giving your money
to the power hungry religious leader who owns two Rolls Royce cars and
multiple multimillion-dollar homes. Creflo Dollar is a fake. If he was
so genuinely concerned about doing good and Godly deeds, he would be
raising $65 million to truly make a difference in the lives of so many.
Instead, he'll be enjoying a better than first-class experience as he
jets around the world in style laughing at the farce he created.
Thank you to
Steve Siebold - Huff Post Religion for this article. We endorse his opinion adamantly.
See images of the scam artists many purchases with his follows money below.
“We sense that it’s a pure power play, and that management’s fundamental belief is that it should be able to do whatever it wants, whenever it wants, without resistance from the people who work here,” the group said in a statement Monday on its website.
The writers have been engaged in a battle with the newspaper’s owner, Jeff Bezos, who purchased the newspaper in 2013 for $250 million, and its publisher, Fred Ryan, since last month when nearly 500 of them delivered a petition to Ryan expressing their displeasure.
Bezos founded Amazon.com in 1994, and just last month was named the 10th richest man in the world after the company’s first quarter sales saw a 15 percent increase, bumping his fortune to around $40 million.
Full Story Here - http://dailycaller.com/2015/05/13/wapo-writers-blast-billionaire-owner-for-trying-to-cut-pensions/
Alabama - Garry Drummond - Net worth = $980 million
Alaska - Robert Hilliam - Net worth = $320 million
Arizona - Bruce Halle - Net worth = $6 billion
Arkansas - Jim Walton - Net worth = $37.6 billion
California - Larry Ellison - Net worth = $52.8 billion
Colorado - Charles Ergen - Net worth = $18.2 billion
Connecticut - Ray Dalio - Net worth = $15.4 billion
Delaware - Elizabeth Snyder - Net worth = $675 million
Florida - Micky Arison - Net worth = $7.4 billion
Georgia - Anne Cox Chambers - Net worth = $17 billion
Hawaii - Pierre Omidyar - Net worth = $8.1 billion
Idaho - Scott Simplot - Net worth = $2.3 billion
Illinois - Ken Griffin - Net worth = $6.6 billion
Indiana - Carl Cook - Net worth = $6.7 billion
Iowa - Harry Stine - Net worth = $3.4 billion
Kansas - Charles Koch - Net worth = $42.7 billion
Kentucky - B. Wayne Hughes - Net worth = $2.5 billion
Louisiana - Tom Benson - Net worth = $1.9 billion
Maine - Bill Alfond - Net worth = $1.2 billion
Maryland - Ted Lerner - Net worth = $5 billion
Massachusetts - Abigail Johnson - Net worth = $13.4 billion
Michigan - Hank and Doug Meijer - Net worth = $10.1 billion
Minnesota - Whitney MacMillan - Net worth = $4.7 billion
Mississippi - Leslie Lampton - Net worth = $1 billion
Missouri - Jack Taylor - Net worth = $12.7 billion
Montana - Dennis Washington - Net worth = $5.8 billion
Nebraska - Warren Biffett - Net worth = $70.2 billion
Nevada - Sheldon Adelson - Net worth = $29.7 billion
New Hampshire - Andrea Reimann-Ciardelli - Net worth = $1 billion
New Jersey - David Tepper - Net worth = $10.4 billion
New Mexico - Mark C. Chase - Net worth = $650 million
New York - David Koch - Net worth = $42.7 billion
North Carolina - James Goodnight - Net worth = $7.5 billion
North Dakota - Gary Tharaldson - Net worth = $930 million
Ohio - Leslie Wexner - Net worth = $7.5 billion
Oklahoma - Harold Hamm - Net worth = $13.3 billion
Oregon - Phil Knight - Net worth = $22.9 billion
Pennsylvania - Mary Alice Dorrance Malone - Net worth = $3.2 billion
Rhode Island - Jonathan Nelson - Net worth = $2.1 billion
South Carolina - Anita Zucker - Net worth = $2.2 billion
South Dakota - T. Denny Sanford - Net worth = $1.4 billion
Tennessee - Thomas Frist, Jr. - Net worth = $8.2 billion
Texas - Alice Walton - Net worth = $36.4 billion
Utah - Jon Huntsman - Net worth = $1.1 billion
Vermont - John Abele - Net worth = $600 million
Virginia - Jacqueline Mars - Net worth = $26.8 billion
Washington - Bill Gates - Net worth = $78.8 billion
West Virginia - Jim Justice, II - Net worth = $1.7 billion
Wisconsin - John Menard, Jr. - Net worth = $9.1 billion
Wyoming - Christy Walton - Net worth = $39.1 billion
Former CEO's House Destroyed By Fire The 16,000 sq ft home, which caught fire around 3:30am is a total loss. Authorities are still looking for the homes occupants. Don Pyle made his fortune in the tech business.
Rachel 'Bunny' Mellon, the deeply private heiress caught up in the spectacular downfall of former Senator John Edwards' political career, has died at 103.
longtime personal attorney Alexander Forger said from his office in New
York City that Mellon died of natural causes Monday at her 4,000-acre
horse farm in Upperville, Virginia. More on her life coming soon.
Roatan police chief Alex Madrid said Nedenia Post Dye was found stabbed in her room on Dec. 22. He said police had arrested a local singer whom Dye was helping quit drugs.
The suspect, Lenin Roberto Arana, told police that he and Dye, 46, had been romantically involved, Madrid said. Arana, who used the stage name "The Canary," told local reporters that he was innocent.
Madrid said Dye had been living for 15 years on Roatan, where she ran the Baan Suerte luxury spa. Dye was a great-granddaughter of General Foods founder Post, the wife of E.F. Hutton who built Palm Beach’s Mar-a-Lago, now owned by Donald Trump. Dye was also a relative of actress Dina Merrill. See that story, Relative of actress Dina Merrill
On November 2, 2013 Oprah Winfrey auctioned off many of the furnishings from her Montecito-Santa Barbara, California home plus other furnishings she had shipped in from her other homes. She has said as she got older her tastes evolved so she decided "out with the old and in with the new". She went on to say that “the gilded mirrors, marble urns, the lavish carbets and sherbet palette – it was all very grand, but it wasn’t very true to myself,” concluding, “the thing that had been missing from all the beautiful places I’d ever lived in, was me!” Proceeds from the sale, called the Oprah Winfrey Collection Auction, was held at the Santa Barbara Polo and Racquet Club and saw more than a thousand attendees both in person and online. The sale, which netted a total of $559,200 (excluding the buyer's premium) will benefit the Oprah Winfrey Leadership Academy Foundation College Fund. Oprah's house has been talked a lot about since she purchased the property in 2001, which she admits was a “compulsive purchase”. Oprah's estate is a 42 acre property overlooking the ocean from high up in the hills of Santa Barbara County, California. The 23,000 sq. ft. mansion and estate is valued by Zillow.com at $87,987,066.00 with $904,239.00 paid in taxes for 2012. Oprah's house in Montecito was built in 1959 and has undergone extensive renovations since she purchased it. According to public records, the fully renovated estate has 6 bedrooms, 14 bathrooms, 10 fireplaces, a modern high tech gourmet kitchen, state-of-the-art theatre, wine cellar, a barn, orchards, two ponds, an outdoor theater, tennis court, a 4,500 sq. ft. guest house with pool, an outdoor entertainment area, and even a manmade lake stocked with fish. Public records also show a 2,000 sq, ft., 2 bedroom, 2 bath stone guard-gatehouse at the entrance to the property that sits on 2 acres and is valued at over $5 million alone.
Here’s a little history on the property. - Oprah bought the property, which has both ocean and mountain views, from Southern California industrialist Robert Veloz and his wife, Marlene. They had been living in the property's 2,000 square foot stone gatehouse since it was rebuilt in 2000. The Velozes had purchased the property for $14 million in 1998, a few months after the death of former owner Eloise Bacon at age 100. Bacon and her late husband, John B.F. Bacon, had owned the property since 1935. John Bacon, who died in 1964, was the grandson of John Baptiste Ford, founder of the glass company Libby-Owens Ford.
The Bacons had built an 8,000 square foot, ranch house on the site in 1957 (which has now been turned into the 23,000 square foot main house). A 6,000-square-foot redwood house, later used for guests, was built in 1912 (Now also renovated by Winfrey to serve as her guest house).
The Velozes undertook a major renovation of the houses and grounds with the help of Corinna Gordon Interior Design of Montecito and Los Angeles. The designer spent nearly three years on the project, doing a lot of the architectural detailing and other work. The Velozes, supporters of such organizations as the Santa Barbara Museum of Art, Santa Barbara Symphony and Santa Barbara Zoo, had planned to hold fund-raisers on the estate. The Velozes' plans changed when Oprah Winfrey came to town in April 2001 from Chicago to shoot photos for her magazine, O. She fell in love with Santa Barbara and made the Velozes an offer they couldn't refuse, $50 million.
The refurbishing wasn't complete, but Winfrey wanted the property anyway. $50 million changed the Velozes minds, as they were beginning to think that they didn't need such a big home despite the fun they were having fixing it up.
They had rebuilt the gatehouse, changing its layout and turning the outside from clapboard to stone. They had also already restored the redwood guest house, reconstructing the damaged foundation and redoing the interiors. But they were still working on the main house on the site, the home the Bacons had completed in 1957. Once bought by Winfrey, their plans were put on hold as she redesigned the home to suit her needs. The renovations were finally completed in 2002 and other, smaller renovations have been on-going ever since.
After investigating we noticed there were not very many images of the entire estate, so we decided to give you a look. Please visit our blog BillionaireAddresses.com to look at Oprah's House From Above - An Aerial View Of Her Montecito House
A former Lieutenant Colonel in the US National Guard and heir to a billion dollar fortune has come out as transgender in a memo to employees.
Jennifer Natalya Pritzker, formerly known as James Pritzker, is a billionaire and one of the heirs of the Chicago based Pritzker family that founded the Marmon Group of companies which includes the Hyatt hotel chain, the TransUnion credit agency, and a large stake in the Carnival Cruise Line.
Pritzker sent a memo to her Pritzker Military Library and Tawani Enterprises employees informing them of her name change and preferred gender.
Winding past the estates and beneath a lush canopy of trees is Round Hill Road, a road lined with millionaires and billionaires mansions and estates. For a road that even Judge Judy has an estate on, most would never suspect what goes on behind some of the gated driveways and closed doors. What police say they discovered inside the $7.3 million estate astonished even the most unflappable investigators on a local force that has grown all too accustomed to responding to domestic violence incidents.
A new study from Wealth-X and UBS finds that the global population of billionaires has surged past 2,000. Their combined wealth totals $6.5 trillion—more than the combined gross domestic product of France and Germany.
Previous estimates placed the world's billionaire population at between 1,200 and 1,600.
The World Ultra Wealth Report found that just under 200,000 people in the world are worth $30 million or more. The $30 million-plus group, labeled the "ultra-wealthy," grew by 6 percent in 2013 and have a combined fortune of $28 trillion.
Thank you to CNBC For This Story
The gap between the richest 1 percent and the rest of America is the widest it's been since the Roaring '20s.
The very wealthiest Americans earned more than 19 percent of the country's household income last year — their biggest share since 1928, the year before the stock market crash. And the top 10 percent captured a record 48.2 percent of total earnings last year.
U.S. income inequality has been growing for almost three decades. And it grew again last year, according to an analysis of Internal Revenue Service figures dating to 1913 by economists at the University of California, Berkeley, the Paris School of Economics and Oxford University.
One of them, Berkeley's Emmanuel Saez, said the incomes of the richest Americans surged last year in part because they cashed in stock holdings to avoid higher capital gains taxes that took effect in January.
In 2012, the incomes of the top 1 percent rose nearly 20 percent compared with a 1 percent increase for the remaining 99 percent.
But since the recession officially ended in June 2009, the top 1 percent have enjoyed the benefits of rising corporate profits and stock prices: 95 percent of the income gains reported since 2009 have gone to the top 1 percent.
The top 1 percent of American households had pretax income above $394,000 last year. The top 10 percent had income exceeding $114,000.
The income figures include wages, pension payments, dividends and capital gains from the sale of stocks and other assets. They do not include so-called transfer payments from government programs such as unemployment benefits and Social Security.
The gap between rich and poor narrowed after World War II as unions negotiated better pay and benefits and as the government enacted a minimum wage and other policies to help the poor and middle class.
Economists point to several reasons for widening income inequality. In some industries, U.S. workers now compete with low-wage labor in China and other developing countries. Clerical and call-center jobs have been outsourced to countries such as India and the Philippines.
Increasingly, technology is replacing workers in performing routine tasks. And union power has dwindled. The percentage of American workers represented by unions has dropped from 23.3 percent in 1983 to 12.5 percent last year, according to the Labor Department.
America's top earners tend to be highly paid executives or entrepreneurs — the "working rich" — instead of elites who enjoy lives of leisure on inherited wealth, Saez wrote in a report that accompanied the new analysis.
Still, he added: "We need to decide as a society whether this increase in income inequality is efficient and acceptable."
Thanks To The Associated Press For This Story
Leonard Lauder, heir to mother Estee Lauder’s massive cosmetics fortune, has gifted his dazzling collection of Cubist art to New York‘s Metropolitan Museum of Art, the New York Times reports.Forbes values the collection at $1.1 billion, a figure Forbes used in calculating his net worth of $8.1 billion for their Billionaires issue, published in early March.
Billionaire World News
Ranking of the World's Richest People
Four of the nation's biggest banks were sanctioned on Tuesday over failing to supervise the sale of risky products to retail investors.
The Financial Industry Regulatory Authority, Wall Street's self-regulator, accused the firms of failing to monitor the sale of so-called leveraged and inverse exchange-traded funds, risky variations on the common products, without a "reasonable basis" for recommending the securities.
How much money does the Queen and royal family have? The top members of the British royal family are worth more than $1 billion, with Queen Elizabeth II topping the list at $510 million. In honor of the queen's Diamond Jubilee, financial firm Wealth-X calculated the net worth of the top members of the British royal line of succession. The figure does not include the Crown Jewels or the Royal Collection of art.
1. Queen Elizabeth II $510 Million
2. Prince Charles $210 Million
3. Prince Andrew $75 Million
4. Prince Edward $45 Million
5. Princess Anne $30 Million
6. Prince Richard $25 Million
7. Princess Zara $20 Million
8. Prince William $19 Million
9. Prince Peter $18 Million
10. Princess Sarah $18 Million
11. Prince Harry $16 Million
12 Prince David $15 Million
13. Princess Beatrice $ 2 Million
14. Princess Eugenie $ 2 Million
In comparison, top soccer star David Beckham's net worth is $260 Million and the reigning soccer champions of England, Manchester City Football Club, are worth $443 Million. Also, the British Cabinet at $108 million, with Prime Minister David Cameron worth $5.87 million.
Because of a change in how her company, ABC Supply Inc., the country's largest distributor of roofing, windows and siding, is structured, Hendricks reduced her personal state income tax burden from $2.3 million in 2009 to zero in 2010, according to records the state Department of Revenue released to the Journal-Sentinel.
While a tweak in ABC's corporate structure allowed its CEO to get out of state income taxes, a complex web of deductions and exemptions in the federal tax code have allowed more than 20,000 wealthy tax filers get off the hook on paying federal income taxes.
So how does someone in the top 3 percent of America's income earners finagle their income tax burden down to zero? For the majority of them, it's all about donating to charity, investing in local and state governments, earning money overseas and writing off doctor bills.
In Hendricks' Wisconsin case, ABC Supply switched from an "S" corporation, which passes all of its profits and losses through its owner to be taxed under personal income, to a "C" corporation, which stands independently of its owner and whose income is subject to corporate taxes.
Scott Bianchini, ABC tax director, told the Journal-Sentinel that the switch was a "substantial part" of why Hendricks had no state income tax liability. Bianchini noted that while Hendricks' tax burden was minuscule this year, the billionaire has paid more than $10 million in taxes since 2005.
On the federal level, the nearly 21,000 high-income earners who aren't paying federal income tax represent only one half of one percent of the 4 million tax filers that make up the top 3 percent.
They account for an even smaller fraction of the 59 million tax filers who did not pay income tax in 2009. The vast majority - 56 million - of the people who skipped out on these income taxes earned less than $50,000 per year.
"It's tiny," Williams said of number of wealthy Americans who are income tax-free. "But these are the ones people get upset about."
In 1969, Congress was so up in arms about a mere 155 individuals who earned more than $200,000 and paid no income tax that it passed the Alternative Minimum Tax, which aims to prevent wealthy people from claiming too many tax exemptions and deductions.
More than 40 years after the AMT went into effect, the number of wealthy, income-tax-free individuals has ballooned to 133 times as many as the 155 that inspired the new tax.
In the 2012 battle for the White House, President Obama has made taxing these wealthy Americans a cornerstone of his re-election campaign.
Under Obama's tax plan, the Bush tax cuts would expire, raising taxes for married couples earning more than $212,300 by 3 percentage points. Obama also plans to enact the "Buffett Rule," which creates a minimum tax rate of 30 percent for millionaires.
Mitt Romney takes a virtually opposite approach to tax reform for the wealthy.
His plan not only extends the Bush tax cuts, but further reduces tax rates at all income levels by 20 percent, which puts the tax rate for those making more than $200,000 at about 28 percent. Romney ardently opposes instituting a minimum tax for millionaires, such as the Buffett Rule.
Under Obama's plan, the top 1 percent of income earners would see their taxes go up about 5 percent. Under Romney's plan, they would go down by nearly 8 percent, according to an analysis by the Tax Policy Center.And as for the 21,000 wealthy Americans who currently pay no income tax, Williams said, "Under Obama's plan, these people would almost certainly pay more. Under Romney's, they will almost certainly pay less."
SAN FRANCISCO (AP) — Facebook co-founder and former Mark Zuckerberg roommate Dustin Moskovitz is by many accounts the world's youngest self-made billionaire. But the 27-year-old isn't sipping champagne in the Caribbean.
Instead he's thrown himself back into San Francisco's startup mix, even as Facebook's looming IPO seems likely to send his wealth spiraling even higher.Moskovitz and his friend Justin Rosenstein, a former Facebooker himself worth $150 million, head a company called Asana, which just launched the first paid version of its online project management service.
The billionaire uncle of missing Florida philanthropist Guma Aguiar has very quietly waded into tangled story by suggesting his nephew may still be alive.
As Guma Aguiar's mother Ellen Aguiar and wife Jamie were trading legal blows in court for control of his $100 million fortune, New York based Thomas Kaplan filed a claim that stated his nephew 'disappeared under suspicious circumstances'.
This new twist is the first foray into the legal fray that has surrounded Guma Aguiar's unexplained vanishing after he took his 31-foot fishing boat out on the evening of June 19 from his Fort Lauderdale home.
In the days immediately after the boat washed up ashore at a Fort Lauderdale beach without Guma Aguiar onboard, his wife Jamie Aguiar and his mother Ellen have been locked in a bitter legal battle for control of his $100 million in assets and property.
These moves by Kaplan are the latest twist in his own legal battle with his nephew to attempt to claim back a protion of the $200 million that his nephew received when Leor Energy, the company he and his uncle founded was sold for $2.55 billion in 2007. Read More Here
Red McCombs says his foundation is writing a $5,000 check to the United Way of San Antonio and Bexar County, which is collecting donations for Andrew F. Oberle. McCombs tells The Associated Press his goal is to raise $100,000 for the 26-year-old student at the University of Texas at San Antonio.
Oberle was attacked last week by two chimpanzees at the Jane Goodall Institute Chimpanzee Eden in eastern South Africa.
McCombs said he read about Oberle's plight. He says the money will go toward Oberle's medical expenses and anything else he needs.
Donors have already raised about $20,000 separately.Red McCombs is The Texas billionaire who once owned the Minnesota Vikings,San Antonio Spurs and Denver Nuggets.
Tuesday, the Santa Clara County assessor told the Mercury News that the estate, known as Palo Alto Loire Chateau, is worth a lot less than Milner paid for it estimating its value at $50.27 million, about half of what he paid for it. About 11 other luxury mansions were used as comparables and the home’s value was assessed by the county assessor’s office as well as three appraisers.
“For whatever reason, and we don’t know, Mr. Milner purchased the property at more than its fair market value,” said Larry Stone, the Santa Clara County Assessor, as told to the Mercury News. “It doesn’t happen very often and we knew at the time that it was unusual, since the highest assessed residential property in Silicon Valley prior to that time was $28.5 million.”
Now with the lower assessment of the 17-acre, 25,000-square-foot estate, Milner will get a “big property tax break,” according to the Mercury News. His taxes will now be $600,000 a year, instead of the $1.2 million per year he thought he would owe.
At the time of Milner’s purchase, the assessed value had been $25.7 million –paying $304,000.00 in taxes. Now the tax bill will be almost double.
Research notes that fair market value and sales price are not the same thing, and it’s not rare in the luxury home market for homes to sell for much more than their market value. Still, housing experts note that a $50 million discrepancy is unusual.
“Our job is to figure out, if it was listed on the open market—which this was not—what would other buyers have been willing to pay for it?” said David Ginsborg, a deputy for the Santa Clara County Assessor. “Our conclusion was there was no way anyone would have paid $100 million.”
The French chateau-style mansion offers 14 bathrooms, a ballroom, library, a home theatre, gym, indoor pool, sauna, a private car wash in the garage, and a 4,600-square-foot guest house.
The Wall Street Journal reported the 49-year-old Yuri Milner, whose primary residence is in Moscow, has no immediate plans to move into the home.
“It’s like artwork: When some people want something badly enough, they will pay what they believe they have to pay to get it,” adds Stone. “Even so, he may want to have a conversation with his Realtors.”
Bill Gates has been listed by Forbes magazine as the wealthiest American for the 19th year in a row, with a fortune of $66 Billion, up $7 Billion from last year. There was no change in the order of the top five richest from a year earlier.
Total wealth of the US super-rich grew 13% to $1.7 Trillion, with the top 400 worth an average $400 million more in 2012. The group's assets are worth as much as one eighth of the US economy, and grew much faster than the economy at large.
According to the Forbes 400 list of the richest people in America, the average net worth of a person on the list was $4.2 Billion
In second place with a fortune of $46 Billion was investment guru Warren Buffett, chairman and chief executive of the insurance conglomerate Berkshire Hathaway.
He was followed by Larry Ellison, head of software maker Oracle Corp, with $41 Billion.
David and Charles Koch of the energy and chemical business group Koch Industries were tied in fourth place with $31 Billion.
The majority of those on Forbes' list became richer in 2012. Two hundred and forty-one members of the group saw their wealth increase, while just 66 saw it shrink.
Casino magnate Sheldon Adelson and financier George Soros dropped from the ranks of the top 10 into 12th place compared with a year ago.
But the biggest drop was seen by Facebook founder and chief executive, Mark Zuckerberg, who fell from 14th to 36th place in the wake of a disappointing stock market listing of his company.
He lost nearly half his fortune, which is now worth an estimated $9.4bn.
Also in the top 10 are four members of one family - the heirs to the Walmart fortune.
Here is the Forbes list:
It was a windy Tuesday night. The seas were rough, and the city's most famous stretch of beach was nearly empty. When the boat came to rest on the shore,still on where it navigation lights. Roused by a report called in to dispatch, Fort Lauderdale police officers Jonathan Bohm, Melissa DiMarco, and Nathan Stoner and Sgt. Ed Wenger headed to the spot, across the sand from Las Olas Boulevard. Approaching the boat on foot, they saw that its shifter was still in gear, the keys in the ignition. The twin outboard engines were still running. Climbing aboard, Stoner found a white iPhone and a wallet on the center console, flip-flops and a black T-shirt lying on the deck: things one might leave behind if going for a quick swim.
The wallet contents belonged to a man named Guma Aguiar. Check of official records showed the boat was registered to him. Stoner woke up the iPhone, and the screen filled with a list of missed calls and panicked text messages from Aguiar's wife, Jamie. The texts said she hadn't heard from him. They had pleaded with him to answer.
Stoner called a Coast Guard petty officer by phone and asked him to initiate a search-and-rescue operation. Stoner relayed some information from the boat's GPS history: a fast trajectory from Aguiar's house about two miles northeast into the dark ocean, a quick turnaround, and then a long, slow drift back to shore.
Driving his patrol car, Bohm went over the Intracoastal Waterway and through the tony neighborhood of Rio Vista to the six-bedroom house that Aguiar shared with his wife and four children. Jamie, beautiful at age 33 with straight blond hair, told the officer that her husband's sudden disappearance that night was out of the ordinary. She confessed their marriage was troubled. Jamie and Aguiar had met in the 1990s at Westminster Academy, a nearby Christian high school. After college, with direction from a wealthy uncle, he had traveled to Texas and made more money than he'd ever imagined. Read More Here
The daughter of a recent housekeeper of a wealthy South Florida family that founded discount jewelry store Claire’s was thrown in jail after threatening to blackmail them for a hefty payment of $3 million.
Charged with extortion against the family of millionaire
Rowland Schaefer, Camille Brown, 31, was arrested after she demanded that the
family fork up the cash to keep her quiet. Camille Brown
The family’s former housekeeper’s daughter contacted the Schaefers by email in September and claimed that she had ‘derogatory’ information about them. Unless the family complied with her demands, she threatened to sell embarrassing information to the highest bidding media outlet, according to Florida state police.
The successful jewelry chain Claire’s has become a shopping mall staple over the past couple decades with its glittering floor-to-ceiling racks of cheap jewelry and ads for ear piercings that beckon to young girls at more than 3,000 locations worldwide. Schaefer founded it in 1973 and sold it in 2007 for $3.1 billion. The retailer boasts that it has pierced more than 80 million ears over the last 25 years.
The Schaefer family immediately notified the Florida Department of Law Enforcement of the attempted blackmail, after the family was approached by Brown.
Investigators contacted Brown and pretended to be representatives of the Schaefer family. They agreed to pay Brown $3 million and set up a meeting Tuesday in Boynton Beach, Florida, to discuss the money transfer. Brown showed up at the meeting and she was hand-cuffed on the spot, thrown in the back of a police car and carted off to Palm Beach County Jail, where she remained on Wednesday morning.Thank you to Daily Online Mail UK for this story.
Eleven more of Bill Gates and Warren Buffetts peers have persuaded to promise to give away half of their wealth, including tech luminaries Gordon Moore and Reed Hastings.The 11 will join the Giving Pledge, a campaign Gates and Buffett launched in 2010 to try to kick-start a new era of American philanthropy in which tycoons start making donations earlier in their lives, while they can still be involved in choosing how to spend it.
With 425 billionaires, the United States contains over a third of the total number worldwide and a study by Wealth-X also included every ultra-high-net worth individual (UHNWI) with a fortune of over $30 million in the country.
Looking at the 60,280 UNHWI's in the U.S. worth $8.28 trillion, Wealth-X found them spread across the 50 states and in most cases living close to the company or firm which they founded or were the CEO of.
The comprehensive list doesn't reflect the combined numbers of billionaires of each state though, which accounts for Nebraska, which has only two billionaires, placing higher in the list than New York, which according to Forbes Magazine has 71. Check Out The List Here
Monthly magazine HOT DOC managed the impossible: To get what it seems to be the content of the long-missing and infamous Lagarde-list containing the names of 2,059 Greeks who had an account in the HSBC bank, Geneva, Switzerland. More than 2,000 excel-files expose the names of bank account holders. HOT DOC does not expose the amounts deposited n each account, but just names and professions.
To See The Entire List Click Here and Scroll To Bottom of Page
Billionaire investor and activist shareholder Carl Icahn has acquired a 10 percent stake in Netflix, according to a Wednesday filing with the SEC. The value of the 5.5 million shares is about $169 million. Icahn Capital believes that Netflix is undervalued and positioned for expansion both in the U.S. and overseas, according to the filing.
Billionaire Matty Moroun spent more than $33 million trying to convince voters to amend the Michigan constitution in the name of democracy, but in the end, voters saw through his cynical campaign and recognized that the only one who would benefit from the proposed amendment would be Moroun himself.Michiganders soundly defeated Proposal 6, which would have made it harder for the state to proceed with plans for a new international bridge between the U.S. and Canada just two miles away from the 83-year-old Ambassador Bridge, which is privately owned by — you guessed it — Matty Moroun. The proposal....Read More Here
Media mogul billionaire David Geffen has bought a 12,000-square foot Central Park penthouse for a record breaking $54 Million, according to the Wall Street Journal.
The Dreamworks co-founder, worth $5.6 billion by Forbes’ most recent estimate, purchased the 785 Fifth Ave apartment from Denise Rich, the shoe heiress-turned-songwriter who recently renounced American citizenship. Rich had been asking $65 million since she listed the coop-mansion in January. Geffen’s saved 17% discount off of the asking price.
At $54 million, the sale represents the highest price ever paid for a coop in New York City — and most likely the U.S. The sale tops a record-breaking sale in May in which two side-by-side duplex apartments at 740 Park Ave sold for $52.5 million from Oaktree Capital Management billionaire Howard Marks and his wife.
The penthouse which occupies the top two floors of Fifth Avenue’s white-glove Parc Cinq cooperative, overlooks Central Park. It currently has seven bedrooms, 11 bathrooms, three kitchens, a wood-paneled library with wet bar and a staff quarters, though he reportedly plans to renovate. The master bedroom suite has a movie projector theater, a fireplace, and his-and-hers bathroom suites. Additional features include a recording studio, an exercise room with a sauna and adjoining “hair salon,” and a private rooftop garden.
Thank you to Forbes.com for this story.
1. John Malone - The cable tycoon has 2.2 million acres stretching from Wyoming to Maine. One of his crown jewels is the Bell Ranch, a 290,100-acre cattle empire.
2. Ted Turner - The media magnate has 2 million acres in Nebraska, New Mexico and other states. He is a strong advocate of wildlife conservation.
3. The Emmerson Family - This low-profile family holds 1.8 million acres through Sierra Pacific Industries, the nation's second largest lumber producer.
4. Brad Kelley - The reclusive billionaire, who drives a pick-up truck and made his money from discount cigarettes, owns about 1.5 million acres and uses much of it for cattle ranching.
5. The Irving Family - The Canadian forestry family behind J.D. Irving Inc. owns 1.2 million acres in Maine and other locations. This year alone, J.D. Irving will plant 30 million seedlings.
Thank you to - Land Report 100
The richest people on the planet got even richer in 2012, adding $241 billion to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 100 wealthiest individuals.
The aggregate net worth of the world’s top moguls stood at $1.9 trillion at the market close on Dec. 31, according to the index. Retail and telecommunications fortunes surged about 20 percent on average during the year. Of the 100 people who appeared on the final ranking of 2012, only 16 registered a net loss for the 12-month period. See Billionaires Worth
Billionaire Warren Buffett revealed the donations he has given away in the last 7 months today. Buffett, who is Berkshire's chairman and CEO, made donations of Class B shares to four unnamed charities and three individuals between September and December.
The biggest gift reported was 172,375 shares worth $16.6 million given to a nonprofit.
The gifts are in addition to the 22.4 million Class B Berkshire shares Buffett gave to the Bill & Melinda Gates Foundation and the four Buffett family foundations that are slated to eventually distribute most of his fortune.
Buffett plans to eventually donate all of his shares of Berkshire stock, worth more than $51 billion, to charities.
For Buffett's And Other Billionaire Addresses Go Here
In a joint statement released his week by the Bill & Melinda Gates Foundation and the Carlos Slim Foundation, Gates and Slim said they planned to use their foundations to promote research and the development of agricultural technology to increase farmers’ productivity and reduce hunger among the world’s poor people. Under a new post that he titled “Mexico, Carlos Slim, and Me,” Gates tells his readers that he is excited about his visit to Mexico this week for a series of events with Carlos Slim, “whom I’ve enjoyed getting to know for his business insights – but also because of some of the innovative approaches he’s taking to philanthropy.” To read more about this ground-breaking partnership, we encourage you to read Forbes.com
Billionaire George Mitchell, who died Friday August 2nd at the age of 94, was a tenacious personality who changed the industries he touched, most famously pioneering a drilling technique that has overturned global economics and geopolitics.
Mitchell has been lionized for developing hydraulic fracturing, or “fracking,” a drilling method that unlocks shale gas and oil. This extraction method has strengthened the US, shaken Russia and created many fortunes—including a $3.2 billion payday for Mitchell.
But his main impact came simply from traveling his own path. In the 1970s, long before “sustainability” became a buzzword, he championed the term and the idea. This drove him to take a lumber mill outside Houston and turn it into The Woodlands, a forested, environmentally designed community in which its 93,000 residents could live, work and stroll. And in an industry that scorns government, Mitchell relied on federal funding to crack open shale, a type of rock that the smart money said was impenetrable.
His stubborn independence came with some profound contradictions. Mitchell worried deeply about overpopulation, but nonetheless had 10 children. And though he publicly embraced renewable energy late in life, he never invested in it. These are but a few examples of what his son Todd called “the Mitchell Paradox.”
The shale drilling breakthrough came in the late 1990s. For years, Mitchell Energy’s gas properties near Fort Worth, Texas, had become less and less productive. So in 1982, with annual grants from the federal government, he ordered his employees to figure out how to drill into the underlying bedrock—the shale in which the gas originated. For 16 years they failed. Then, in 1998, a young engineer suggested substituting a high-pressure injection of water for gunky drilling fluids they had been using, and the result was promising, says Russell Gold, a Wall Street Journal reporter and the author of Frackistan, a book on shale drilling to be published next year.
The outcome was the shale gas boom. In 2001, he sold his company to Devon Energy for $3.2 billion. The resulting gas transformed the US from a gas importer to an exporter. It continues to reduce US oil imports. Among its consequences for global markets are that It forced Russia to cut its natural gas prices in Europe, thus undermining its economy, and it will potentially weaken OPEC.
But environmentalists around the world have screamed about fracking, and pressed for it to be curbed and, in some places, banned.“This must have pained him because he really cared about the environment,” Gold told Quartz. “But he watched this technological innovation become something that environmentalists hated. That wasn’t really fair.” Thank you to qz.com's Steve LeVine for the obituary.
A wealthy widow who adopted a Chinese girl and then decided to give her up for re-adoption ten years later has been ordered by a court to give her a portion of her $250 million estate.
John and Christine Svenningsen of Westchester, New York, adopted a baby girl in 1996 who they named Emily Fuqui Svenningsen, to add to their four biological children.
Right before the adoption was finalized, they had another biological child and the husband John was diagnosed with cancer.
In December 2004, seven years after her husband died, Mrs Svenningsen put Emily up for adoption and surrendered her to Spence-Chapin Services to Families and Children, an adoption agency in New York.
According to court documents, on May 6, 1996, the Svenningsens signed an adoption agreement stating they would not abandon Emily or 'transfer or have her re-adopted', and that she would be deemed 'a biological child'.
The child’s new parents sued the Svenningsens to include her in Mr. Svenningsens will and won.
Mrs. Svenningsen and her five biological children appealed,
but last week the court ruled in Emily's favor.
Since the death of John
Svenningsen, his widow has spent over $33 Million buying some of the Thimble Islands in the Long Island Sound. (See picture above)
Dave Gold, founder of the 99 Cents Only Stores, has died. Gold, who popularized the 99-cent store concept with a string of more than 300 shops that eventually extended from California to Texas, reportedly died of an apparent heart attack. He was 80 years old.
Gold opened his first 99 Cents Only Store in Los Angeles in 1982.
He revolutionized the idea, offering quality merchandise at a reasonable cost. The idea caught on and he reportedly amassed a fortune in the billions.
Barbara Piasecka Johnson, the Polish chambermaid who famously married into the Johnson & Johnson fortune, has died. The art collector and philanthropist was 76 years old. Johnson passed away in her native Poland on April 1 after what her family office described as a long and complicated illness. A resident of Monte Carlo, Monaco, Johnson was one of the wealthiest women in the world. As of the March 2013 Forbes Billionaires list, Johnson was the 376th richest person on the planet and the 42nd richest woman, with a net worth of $3.6 billion.
Born in Staniewicze, Poland in 1937, Johnson immigrated to the United States. Though she arrived with just $100 and a limited knowledge of the English language, she found work as a cook and chambermaid in the New Jersey estate of Johnson & Johnson heir J. Seward Johnson, where he lived with his wife Esther Underwood.
After just 9 months on Seward Johnson’s staff, the then Ms. Piasecka departed for Manhattan to study English. According to a 1986 account in People magazine, it wasn’t long until Seward Johnson sent his car to retrieve her and bring her back to his New Jersey office, where he professed his love. Shocked, Barbara Johnson later confessed, “I never expect it, because we could hardly talk to each other”. By 1971 Seward Johnson had divorced his wife of 32 years and married Barbara Johnson, with none of his children in attendance. Seventy-six at the time of their marriage, Seward Johnson was 42 years her elder.
Upon Seward Johnson’s death in 1983, a bitter legal battle erupted between Barbara Johnson and her late husband’s six adult children over his massive estate, then valued at approximately $500 million. In the 1986 trial, which lasted four months and cost some $17 million in legal fees, the Johnson children accused Barbara Johnson of manipulation, abuse and coercing their infirmed father into steadily altering his will to her economic benefit.
After an army of witnesses testified for both sides, the parties settled out of court, with Barbara Johnson retaining the majority of Seward Johnson’s fortune, including 18 million Johnson & Johnson shares and the couple’s 140 acre Princeton, New Jersey estate, Jansa Polana, which she later transformed into a country club with a golf course designed by Gary Player.
Thank you to Forbes.com
The billionaire owner of Sinclair Oil, Robert Earl Holding, has died according to a statement released today by the company. The 86 year old Utah native was also the owner of Sun Valley Resort in Idaho and Snowbasin Resort in Utah, plus a couple of huge ranches in Wyoming and Montana.
The billionaire started out as a manager of the Little America truck stop near Green River, Wyoming in 1952, bought a mobile refinery in Casper, Wyoming in 1968, and Sinclair Oil in 1976.
At the time of his death, he was the 423rd richest person in the world, according to Forbes, with $3.2 billion.
Rosalia Mera, the former Spanish seamstress who co-founded the Zara clothing empire and eventually became the country’s richest woman, has died after suffering a brain hemorrhage while on vacation on the island of Minorca.
Ms Mera, 69, co-founded Inditex with Amancio Ortega, her then husband, in their native Galicia starting as a manufacturer of bathrobes. They later turned to making women’s clothing and opened the first Zara store in 1975. Inditex is now the world’s largest clothes retailer by sales and Spain’s largest company by value.
Born in 1944 in a working-class neighborhood of La Coruña, Ms Mera left school at age 11 to work in a clothing shop. She was widely acknowledged to have played a significant role in laying the foundations that saw a fledgling company from a traditionally poor region of Spain transform itself into a sprawling empire. In 2012, Zara averaged one new store opening a day.
Mr Ortega, now Spain’s richest man and recently ranked the third-wealthiest person in the world by Forbes, floated Inditex on the Madrid stock market in 2001. Ms Mera and Mr Ortega, who had two children together, separated in 1986.
Ms Mera retained slightly less than 7% stake in the company, helping her attain a net worth estimated at 3.2 billion.
The Palm Beach Post is reporting that the likely buyer behind a $52
million private sale today is non other than America’s Got Talent judge
and radio shock-talk personality Howard Stern. The property was sold by
textile and apparel executive Martin Trust and his wife, Diane,
according to sources familiar with the deal. Stern has reportedly been
looking for a house in South Florida for weeks with his wife, Beth
Ostrosky. The five-bedroom house on the North End of Palm Beach had not
been listed for sale in the multiple listing services that serve the
island. Broker Lawrence A. Moens of Lawrence A. Moens Associates
confirmed that a transaction had occurred for the property and that he
handled the deal. But he would say nothing else about the sale or anyone
involved. The property had a “total market value” of $40.8 million in
the 2012 tax rolls — ranking it among the town’s highest-valued
residential properties, according to the Palm Beach County Property
Appraiser’s office. The main house has 18,673 square feet, for a grand
total of 39,094 square feet of living space on the property. A
representative for Stern could not be reached for comment Wednesday.
See more pictures and the deed to the home here, Howard Sterns PB Mansion