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Billionaire Sumner Redstone
Gets 'Companion' Lawsuit Dismissed

  • CBS & Viacom Billionaire Sumner Redstone's mental competency trial seems to be over after a judge dismissed the lawsuit filed against the billionaire by ex Manuela Herzer.
  • 'There is no good cause for further judicial involvement where the court has heard from Redstone that he lost trust in Herzer, said Judge Cowan.
  • Above - Sumner Redstone's Mansion In Beverly Hills, California.
    Judge implies Sumner Redstone IS mentally competent and dismisses $50million lawsuit against billionaire mogul, 92, filed by his ex-girlfriend

  • Forbes Releases Its 'Worlds Billionaires List'

    #‎Forbes‬ World's billionaires were announced today. In the 30th annual guide to the world’s richest, they found 1,810 ‪#‎billionaires‬, down from a record 1,826 a year ago. Their aggregate net worth was $6.48 trillion, $570 billion less than last year. It was also the first time since 2010 that the average net worth of a billionaire dropped – it is now $3.6 billion, $300 million less than last year.
    See Forbes Richest People On The Planet

    - 2016 Wealth Lists -
    Could We Have Lost A Few Billionaires Since Last Year? - 02-29-16
    We have dug  around a little and played with the newest real-time listings on both Forbes and Bloomberg's Billionaire Index and just can't really find that there has been an increase in the number of billionaires in the U.S. in the past year; that is between 2015 and 2016. Several of them however, have gone up in the billionaire money rankings due to their excellent investment knowledge and stock portfolio's. But, if we aren't mistaken, we don't seem to see a whole lot of NEW billionaires for 2016.
    In fact, we can only find just 508 people in the United States that are worth $1 billion or more.  Last year we had 536 billionaires in the U.S.
    Is this a sign of unforeseen things to come? A sign of economic problems? Just bad investing? Or maybe an internet-software bubble burst? Or maybe just people feeling a little shaky about their personal financial security?
    None the less, you can always see any NEW billionaires from the newest Forbes 400 Billionaires List for 2016 here. There you can also see how they made or where they got their money.

    Facebook's Zuckerberg Now 6th Richest Man In The World

    Billion-Dollar Facebook CEO Mark Zuckerberg is now the sixth-richest individual in the world, leaping over Amazon CEO Jeff Bezos.
    Zuckerberg was worth $50 billion at the end of trading on Tuesday.

    Billionaire Ted Stanley Dead At 85

    Businessman and billionaire philanthropist Ted Stanley, who made one of the largest private donations for scientific research, has died, his son said Monday. He was 85. Stanley died peacefully in his bed overnight at his home in New Canaan, son Jonathan Stanley said.
    No cause of death was provided.
    Ted Stanley made a fortune selling collectibles, beginning with a series of medals commemorating the moon landing in 1969. His Norwalk-based company, MBI, specializes in marketing consumer products.
    In 2014, Stanley committed $650 million to the Broad Institute, a biomedical research center in Cambridge, Massachusetts, for the study of psychiatric disorders. The cause was embraced by Stanley and his late wife, Vada Stanley, after their son was diagnosed with bipolar disorder when he was in college in 1988.
    Below: Ted Stanley's house in New Cannan, CT

    Murder At Windswept Farm - Socialite Murdered In Mansion

    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.
    Windswept Farm - Mansion Lois Colley Was Murdered In

    Multi-Millionaire's 'Gold-Digger' Actress Wife Manipulated His Will To Get $800 Million Fortune

    As her 80-year-old multi-millionaire husband (Gerald Kessler) lay dying in a hospital, bit-part actress Meadow Williams shouted down her cell phone trying to get $3m from his bank account. The D-list actress was trying to secure financing for her latest film and the vast wealth of her multimillionaire dying husband was the solution.
    Still screeching down the phone, the buxom blonde was ushered out of the room by a doctor appalled by her behavior in front of her bed-ridden husband.
    The bizarre scene might appear like something out of a Lifetime movie.
    But according to bombshell legal documents obtained by Daily Mail Online, it took place in a Los Angeles hospital earlier this year.  Read the story about millionaire Gerald Kessler (pictured above with his sons and grandson),a pioneer in the natural products industry, who founded the supplement company Natural Organics, Inc.

    Subway Co-Founder Fred DeLuca Dead At Age 67

    Subway co-founder Fred DeLuca, who turned a sandwich shop he started as a teenager into the world's largest fast-food chain, died Monday evening. He was 67. DeLuca's death came two years after Subway said he had been diagnosed with leukemia and was scaling back on his leadership role at the company. The chain has more than 44,000 locations worldwide. In 1965 DeLuca opened a sandwich shop at the age of 17 to help pay for college. The idea came from a family friend, Peter Buck, who was co-founder and provided the $1,000 to start the business. Subway, based in Milford, Connecticut, is privately held and doesn't publicly report its financial performance or executive pay packages. But this year, Forbes magazine pegged DeLuca's net worth at $3.5 billion, making him the 259th-richest individual in the United States.
    DeLuca is survived by his wife, son and sister, according to Subway, which announced his death Tuesday. Our condolences to his family.

    Real Estate Mogul James Batmasian Wants To Pay Staff With "Happy Ending" Message Vouchers

     In a complaint filed in Palm Beach County court, Stacey Blake claims that "billionaire real estate tycoon" James Batmasian refused to give him and other employees overtime wages, insisting that they instead accept vouchers from local massage parlors where they could receive a "happy ending" massage involving "manual sexual stimulation." See More..

    Billionaire Skype Co-founder Sues Ex-Fiance For Ring Back

     LOS ANGELES (CN) The billionaire co-founder of Skype sued his former fiancee, Danish pop star Aura Dione, demanding she return the $471,000 engagement ring he gave her.
         Janus Friis sued Maria Louise Joenson pka Aura Dione in Superior Court on Aug. 27. He wants the ring back, plus a Copenhagen apartment and other gifts he says were "conditioned upon their marriage."
         With his partner Niklas Zennstrom, Friis, 39, a U.S. citizen born in Denmark, sold Skype to eBay in 2005 for $2.6 billion. He also co-founded the file-sharing service Kazaa with Zennstrom and another partner.
         Friis says he met Dione in 2011 and they became engaged after a whirlwind romance. But he says in the lawsuit that she "disavowed and abandoned her engagement" by "among other things, engaging in multiple affairs and sexual encounters with other men."
         Friis says the platinum engagement ring, for which he paid $471,942 in July 2013, contains "a number of diamonds," including a 1.76 carat round brilliant cut centerpiece, two blue pear-shaped stones totaling .91 carats, and blue and pink diamonds weighing 1.75 carats.
         He wants it back, along with other gifts he gave her worth more than $1 million.
         He is represented by Jaime Marquart with Baker Marquart in Los Angeles, who was not immediately available for comment.
         In 2012, Dione sued her former manager, Khalid Schroeder and KS+P Kool Management, claiming Schroeder tried to steal the rights to her hit album "Before the Dinosaurs."
         Dione's representative did not respond to an emailed request for comment.
    Thank you to

    Billionaire Wants $640,000 Verdict Dropped - Judge Says NO

         LOS ANGELES (CN) - A federal judge rejected a billionaire developer's challenge of a jury's $640,000 verdict for having copies of a noted sculptor's work made in China and putting them on public display.
    John Raimondi sued Igor Olenicoff in 2012 after seeing copies of his works displayed in Orange County, California, including at Century Centre in Irvine and Olen Pointe in Brea. Olenicoff had two copies each made of two of Raimondi's large sculptures. Olenicoff admitted his copyright infringement, shifting the focus to damages, but filed a motion for judgment as a matter of law after the jury delivered its verdict. Read Full Story..
    Billionaire Wants $640,000 Verdict Dropped - Judge Says NO

    Andrew Getty Grandson Of Oil Tycoon J. Paul Getty And Heir To Getty Fortune, Died of Intestinal Hemorrhage And Meth Intoxication And Other Drug Abuse Factors - Coroner Says

    Los Angeles (CNN)Andrew Getty, grandson of oil tycoon J. Paul Getty and an heir to his fortune, died of an intestinal hemorrhage and acute methamphetamine intoxication, among other factors, the Los Angeles County coroner's office said Wednesday.

    Getty, 47, who died March 31 in his Los Angeles home, also suffered stomach ulcers and heart disease, said Lt. Fred Corral of the county medical examiner's office. The death was ruled accidental, Corral said.

    Read More Here -

    Home He Died In - The Los Angeles Mansion of Andrew Getty - Heir To The Getty Fortune

    Billionaire Las Vegas Mogul Kirk Kerkorian Dies in Los Angeles

    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.

    Kerkorian, 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 -

    Billionaire Financier Kirk Kerkorian House In Beverly Hills, CA

    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?'

    Could This Be One Of The Biggest Scams of All:
    Pastor Creflo Dollar Will Get His $65 Million Luxury Jet

    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.

    One of Creflo Dollars Mansions

    The Interior of One of Creflo Dollars Mansions Still Under Construction

    Just a few of the 'small rooms' needed to run a ministry. These are the rooms of the home pictured above. Oh, but he has another home pictured below.
    The Front of His Mansion At 1811 Sandy Creek in Fayetteville, Georgia. We Guess When You Are An Honest Pastor of God You Need Locked Heavy-Duty Fences To Protect You. (Please Note: We NEVER give addresses in print to the general public, but this guy likes to FLASH his wealth, so we, oops, flashed his address.

    Creflo Dollar Mansion At 1811 Sandy Creek in Fayetteville, Georgia

    And To Top IT All - How convenient to get money from ALL RACES - Creflo Dollar adopted this man at the age of 17 in the year 2000. Here are a few of the things he has written about himself:

    We can prove he is more HIS LOVER THAN HIS SON.

    I am the adopted son of the prominent black preacher, Creflo A. Dollar Jr.  He adopted me at seventeen years of age and I took his last name in the year 2000.

    t is dedicated to the publishing of my new book that takes people on a journey of my life as Creflo Dollar’s son. His real name is Greg Dicknow and we have found MANY fraudulant things about this person on the internet. JUST BEWARE!!!

    He Says: This is me:

    1. I’m a firm believer of Jesus Christ and that he died on the cross and was risen on the third day by God.
    2. I’m a Gamer.  On my free time, I play World of Warcraft.
    3. I love every type of music there is as long as it pierces the heart.
    4. I can be very emotional, but then I can be uncaring at times.
    5. I love people, but sometimes I don’t want to be around any.
    6. I have made thousands of mistakes in my lifetime, yet I strive each day to be better than the last.
    7. I’m not perfect, but I am honest and straight-forward.

    I’m here to share my stories, my thoughts and my life.  I’m also here to share in yours. - Take all of this as you may..Billionaire World News does NOT BELIEVE ANY OF THEM! EXCEPT THEY ARE ALL SCAM AND SCUM ARTISTS!

    Billionaire SuperYachts Flood Cannes For Festival

    Superyachts are currently docked or anchored all along the coast between the bay of Cannes, the Cap d’Antibes with the infamous Hotel Du Cap and of course Monaco. Really shows the billionaires that love Cannes Film Festival.
    Read More At:

    $40 Billion Dollar Bezos Wants To Cut Pensions At Post

    Members of the union that represents writers at The Washington Post are calling the company’s plan to slash pensions and cut healthcare benefits for part-time employees completely unnecessary.

    “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 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 -

    Facebook’s Sheryl Sandberg‘s Husband, Dave Goldberg Dies Suddenly At 47

    Brought to you by Billionaire Mailing List and MailOnline - Dave Goldberg, the chief executive of SurveyMonkey and husband of Facebook Chief Operating Officer Sheryl Sandberg, has died  at the age of 47, his  brother announced on Saturday afternoon.The father-of-two ‘passed away suddenly’ on Friday night, according to a Facebook post by Robert Goldberg, which was shared by the social networking site’s CEO and founder, Mark Zuckerberg. His cause of death was not immediately disclosed.  Our condolences to their families. More Here -

    The Richest Person In Each State

    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

    source: Forbes 

    Billionaire Benson Heirs Cut Off From Father & Money

    This is a situation that I have seen many times over involving the rich. The sons and daughters have worked for their fathers billion dollar business all their lives. Then after his mid-life crisis, he divorces their mother and marries a younger woman. The new wife wants her 'fair share' of the pot and starts to brainwash the billionaire into thinking the children are trying to steal his money. (I am sure that happens sometimes, but it happens so often, I don't always think it is true) Before you know it the billionaire father is 'cutoff' from his children by the new wife once the fathers memory starts to fail. She then somehow gets him to change his will and before you know it, he dies, and the children are left "out in the cold" and then sue the estate for their share once their father dies. I have seen this over and over with the rich. In this case, the new wife has had a troubled past and you can really see the new wife is taking advantage of her new billionaire husband. When you have billions in the bank, isn't there enough to go around for EVERYONE? Do you think there is some other way to ensure the correct people get the money when he dies? Billionaire Tom Benson Heirs Fight For Their Fair Share Of Money

    Melvin Gordon of Tootsie Roll Fame Has Died At 95

    Melvin Gordon, the longtime chairman and CEO of Tootsie Roll, passed away at the age of 95 after a brief illness, the company announced Wednesday. To read more about his passing and life, visit our Wills and Wealth section.

    Saudi King Abdullah Dies - New King Is Brother Salman

    Saudi Arabia's King Abdullah died early on Friday and his brother Salman became king, the royal court announced in a statement. King Salman has called on the family's Allegiance Council to pay allegiance to Maqrin as his crown prince and heir. King Abdullah has already been buried in an unmarked grave.

    The Richest 1% Will Own More Than Everyone Else
    In The World By 2016

    The combined wealth of the richest 1 percent will overtake that of the other 99 percent of people next year unless the current trend of rising inequality is checked, Oxfam warned today ahead of the annual World Economic Forum meeting in Davos.
    The international agency, whose executive director Winnie Byanyima will co-chair the Davos event, warned that the explosion in inequality is holding back the fight against global poverty at a time when 1 in 9 people do not have enough to eat and more than a billion people still live on less than $1.25-a-day. Read More At -
    The Richest 1% Will Own More Than Everyone Else In The World By 2016

    $9 Million Mansion Burns To The Ground In Maryland

    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.

    Donald Trump Suing Airport By His Florida Estate For Noise

    The Donald is at it again. Donald Trump Must Be Bored With Nothing To Do - Here is an article we wrote about Donald Trump who is suing the county airport in Palm Beach Florida over the noise it causes when flying over his mansion and estate. Poor Donald Trump - Another "Rich People Problems" article by Billionaire Mailing List.

    Billionaires Ex Cashes $1 Billion Check Possibly Finalizing Divorce

    Billionaire oil tycoon Harold Hamm’s ex-wife has decided that the $975,000,000.00 (almost $1billion) check she said she would never cash must be enough money for her after all. Last week we posted an image of the check (below) that he gave her as payout of the $1 billion she was awarded in their divorce settlement. She said she would not cash it because she thought it was not enough. After all, when the divorce papers were filed, Harold Hamm was reportedly worth $18 billion. However 68% of his net worth is based on the value of his oil wells etc.,and with the gas prices plummeting he claimed that he had lost over half of his fortune.
    Sue Ann Arnall, Hamm’s ex, had filed an appeal immediately after the $975,000,000.00 ruling saying that almost a billion dollars or about 6% off what was accumulated during the marriage was not enough for 26 years of marriage with no prenup. However, in a turn of events, it has been reported that Arnall has indeed now cashed the check. ‘Normally when someone accepts the benefits, the appeal is dismissed,’ Michael Burrage, Hamm’s lawyer, told the press. Hamm, the founder of Continental Resources was worth around $50 million in 1988 when the couple married, which is just a drop in the bucket when compared to the $20 billion giant it is today.
    During the divorce proceedings it was ruled that Hamm’s Continental Resources, was his separate property, shutting Arnall out of any claims to a piece of the $20 billion pie.
    However, Arnall’s lawyer has claimed many of the major gains in his company happened after their 1988 wedding. Knowing Arnall’s past arguments about the timeline of actually when the earnings were made, and other questions still unresolved - will likely cause this case to drag on for as long as two more years some have said. Sue Ann Arnall at least has a little pocket change in the meantime, now that shes cashed the check.

    Multimillionaire Hedge Fund Founder Shot Dead By Son

    A multimillionaire Manhattan hedge fund founder was fatally shot in the head by his 30-year-old son inside the family’s swank East Side apartment, authorities said.

    Thomas Gilbert Sr., 70, the founder and chief investment officer of Wainscott Capital Partners, was gunned down by son Thomas Gilbert Jr., who was arrested about seven hours later at his Chelsea apartment, according to police, The New York Post reports.

    The two had been arguing in the dad’s bedroom at about 3.30pm, the sources said. After the shots were fired, the victim’s wife called 911, according to sources.

    The son dropped his .40 caliber Glock pistol and fled from the eighth-floor apartment at 20 Beekman Place, the sources said. Around 11pm he was arrested and taken to the 17th Precinct Station House.

    Christopher Kelly, a doctor who lives directly below the Gilberts’ East Side apartment, said he heard the gunshot but didn’t know what it was. “I heard a loud sound right above me,” he said. “In New York, you hear loud noises. I thought somebody dropped something.”

    Kelly said he learned from the doorman that the younger Gilbert had entered the building right after his dad and then came back out minutes later and didn’t respond to the doorman’s greeting.

    Hector Torres, 33, a neighbour who works in finance, had only kind words for the elder Gilbert.

    “He was a pillar on Wall Street — somebody everyone looked up to,” Torres said. “Very nice gentleman ... They seem like a normal family. Every time I saw him in the elevator, he would say, ‘Hi.’ He would ask how I was.”

    Gilbert Sr. was a graduate of Princeton University and Harvard Business School who racked up more than 40 years on Wall Street, The New York Post reports.

    In 2011, he founded Wainscott, a small hedge fund that focuses primarily on biotech and healthcare investing. As of August, 2013, Wainscott managed $5 million, according to a newsletter called Hedge Fund Alert. Gilbert Sr. has also run deal departments for major Wall Street firms — including at Loeb Partners Corp.

    Billionaire PayPal Founder Divorces - Again

    Billionaire internet entrepreneur, and PayPal co-founder, Elon Musk and his British actress wife Talulah Riley have agreed to "amicably" end their marriage after being apart the last 5 months, according to a joint statement released Friday. This is the second split for the couple, who first married in 2010, and then again in 2013 after a 2012 divorce. Musk filed the divorce petition in Los Angeles on December 31, 2014. The statement went on to say that Riley would receive $16 million from Musk, who also founded the firms SpaceX and Tesla Motors.

    Musk is one of the world's wealthiest individuals with a net worth estimated at some $8 billion, according to Forbes. According to the statement, Riley "has decided to remain in the UK and pursue her career where she has spent the last five months working on her first feature film, 'Scottish Mussel,' as a writer and director." The statement also added that "Mr. Musk and Ms Riley remain friends."

    In 2010, Musk went through a messy divorce from his Canadian-born wife, science-fiction writer Justine Musk, mother of their five sons, including triplets. He currently has full custody of the children and they live in the Hollywood Hills.

    The 43-year-old Musk, is a South African native. Besides SpaceX and Tesla, Musk heads up SolarCity, a company which makes solar panels for homes and businesses. And he operates his own foundation focusing on education, clean energy and child health.

    Biggest Money Donations of 2014

    Biggest Charitable Gifts by Individuals Or Their Foundations For 2014
    Shown in the Order of Amount - Donor  - Age - Net Worth - Purpose or Beneficiary

    1) - $1 billion - Ralph Wilson Jr., (pictured left) deceased founder of the Buffalo Bills football team; Wilson passed away at the age of 95 in March and left $1 billion to his family foundation, which works to help homeless and poor families in Buffalo and Detroit.
    Given to: Ralph C. Wilson Jr. Foundation

    2) - $650 million - Ted Stanley, age 83, is a billionaire (net worth $1.3 billion) businessman who made his fortune selling sports memorabilia and other collectables.
    Given to: Broad Institute, for research on the genetics of psychiatric disorders - to support research in mental health as his son has bipolar disorder.

    3) - $500 million - Billionaires Nicholas and Jill Woodman, age 40, (net worth $5 billion) are founders of the GoPro camera company.
    Given to: Silicon Valley Community Foundation - which makes grants to a variety of causes such as education and immigration.

    4) - $350 million - The Chan family and the Morningside Foundation; Gerald, age 64, and Ronnie, age 66, (net worth $3.1 billion) Chan co-founded the Morningside Group, a private equity and venture capital firm
    Given to: Harvard School of Public Health - It was the largest gift in Harvard's history.

    5) - $177.3 million - Larry Page, age 41, (net worth $30.4 billion) is a co-founder of Google.
    Given to: Carl Victor Page Memorial Foundation, gave $177 million in stock to the charity he set up in the name of his father.

    6) - $150 million - Kenneth Griffin, age 46, (net worth $5.6 billion) is an American hedge fund manager and the founder and CEO of Citadel LLC, a Chicago-based investment firm.
    Given to: Harvard University, for financial aid

    7) - $130 million - Diller-von Furstenberg Family Foundation; Partners Barry Diller, age 72, (net worth $2.4 billion) is chairman of IAC/InteractiveCorp and Diane von Furstenberg, age 68, (net worth $1.2 billion) is a fashion designer.
    Given to: Hudson River Park Trust, to help build a floating park in New York City's west side.

    8) - $125 million - T. Denny Sanford, (net worth $1.3 billion) age 79, is chairman of United National Corporation - made his fortune as the owner of First PREMIER Bank and PREMIER Bankcard, both among the nation's leading credit card providers.
    Given to: Sanford Health, for genetic testing programs.

    9) - $120 million - Ernest Rady, age 76, (net worth $950 million) is a real-estate developer, the Founder and Chairman of privately held American Assets Inc.
    Given to: Rady Children's Hospital San Diego, for a genomics institute

    10) - $110 million - Sidney Kimmel Foundation; Mr. Kimmel, age 86, (net worth $1.3 billion) founded Jones Apparel Group and is a film producer.
    Given to: Thomas Jefferson University, for its medical college

    Last years largest individual donor:
    $990 million - Billionaire Mark Zuckerburg, age 30, (net worth $33.5 billion) an American computer programmer and Internet entrepreneur who co-founder of social media site, Facebook.
    Given to: Silicon Valley Community Foundation - a donation of 18 million Facebook shares. He recently gave $25 million to the ebola virus epidemic in West Africa.

    Billionaire Hamm Says He Can't Afford To Pay $1 Billion Divorce

    Billionaire oil tycoon, Harold Hamm, age 69, who has an estimated net worth of $18.7 billion, says that the continuing drop in oil prices means he can no longer afford his divorce.
    Hamm is appealing the terms of his divorce in which he agreed to pay $1 billion to his ex-wife.
    Hamm owns a 68 percent stake in an oil business and says the drop in oil has dramatically affected his finances.
    Hamm's ex-wife, Sue Ann Hamm, who was married to him for 26 years, says she helped Hamm amass his fortune, and that she is entitled to more than the $1 billion settlement.  With that kind of money, we think he can STILL afford to pay, if in installments only.

    Car Crashes Through Billionaires Home

    Billionaire Peter Kellogg Receives An Early Holiday Visitor Crashing Through His Home.

    Billionaire Peter Kellogg’s Short Hills, NJ, home was the scene of a single-car accident on Monday, police confirmed. A 2011 Cadillac Escalade driven by a 26 year old and a 56 year old passenger accidentally accelerated the vehicle instead of braking, according to the report by Millburn police Sgt. Michael Fattal. The vehicle traveled through the Colonial house's center hall, the living room and exited through a back window, said Millburn fire department battalion chief Robert Echavarria. Fortunately this is just one of his homes and no one was there at the time. Police did not suspect drugs or alcohol were factors in the crash, Fattal said.

    Kellogg, who is worth an estimated $3.4 billion, was contacted by phone and said he did not know who the driver was. He added in the brief interview, "I don’t know too much, I am sorry I can't help, but Merry Christmas."

    Biggest Billionaire Financial Winners and Losers for 2014

    1 - Jack Ma - Founder of Chinese e-commerce site Alibaba
    Net worth in December 2013: $10.7 billion
    Net worth in December 2014: $29.2 billion
    Gain: $18.5 billion or 173%
    2 - Patrick Drahi - Swiss founder of Altice (ATC) cable and telecoms group
    Net worth in December 2013: $7.8 billion
    Net worth in December 2014: $12.9 billion
    Gain: $5.1 billion or 65%
    3 - Leonid Mikhelson
    Chairman and chief executive of Russian gas firm Novatek (RU:NVTK)
    Net worth in December 2013: $17 billion
    Net worth in December 2014: $10 billion
    Loss: $7 billion or 41%
    4 - Mark Zuckerberg - Co-founder and CEO of social network Facebook (FB)
    Net worth in December 2013: $24.7 billion
    Net worth in December 2014: $33.1 billion
    Gain: $8.4 billion or 34%
    5 - Warren Buffett
    Chairman and CEO of Berkshire Hathaway (BRK.A & BRK.B)
    Net worth in December 2013: $59.1 billion
    Net worth in December 2014: $72.6 billion
    Gain: $13.5 or 23%
    6 - Bill Gates - Co-founder of computer firm Microsoft Inc. (MSFT)
    Net worth in December 2013: $72.6 billion
    Net worth in December 2014: $83.1 billion
    Gain: $10.5 billion or 10%
    7 - Sheldon Adelson - Chairman and CEO of Las Vegas Sands Corp. (LVS)
    Net worth in December 2013: $35.3 billion
    Net worth in December 2014: $30.1 billion
    Loss: $5.2 billion or 15%
    8 - Jeff Bezos - Founder and CEO of e-commerce giant Amazon (AMZN)
    Net worth in December 2013: $34.4 billion
    Net worth in December 2014: $28.9 billion
    Loss: $5.5 billion or 16%
    9 - Lui Chee Woo - Chairman of Chinese real-estate K. Wah Group
    Net worth in December 2013: $19.6 billion
    Net worth in December 2014: $14.1 billion
    Loss: $5.5 billion or 28%
    10 - Masayoshi Son - Founder and CEO of Japan’s SoftBank telecoms group
    Net worth in December 2013: $19.1 billion
    Net worth in December 2014: $13.2 billion
    Loss: $5.9 billion or 31%

    The net worth of the median American, meanwhile, has fallen by 40% since before the recession.

    Late Billionaire Richard Mellon Scaife Leaves Children's
    $210 Million Trust Fund At Zero Upon Death

    Late billionaire Richard Mellon Scaife (pictured left at Christmas 2005) was obviously having some type of financial problems prior to his death or changed his mind about leaving his children money. We say this because his children, Jennie and David Scaife, expected their trust of $210 million, would be waiting for them after his July death. What they found was a trust with a zero balance. While they’re not sure where the money went, they’re assuming it went to keep his newspaper, the Pittsburgh Tribune-Review, up and running. An attorney for the estate is claiming there was NO misuse of funds. Jennie and David Scaife say trustees allowed their banking and oil heir father to use the trust as "his own personal bank account," despite access to more than $1 billion in other accounts. They're demanding an accounting of spending. We will keep you updated of any new goings on.

    Billionaire To Give Fortune To Charity After Talking With Gates

    Billionaire Anil Agarwal, the founder of Vedanta Resources Plc, said he and his family have decided to donate 75 percent of their wealth to charity after meeting with the worlds richest person, Bill Gates. The billionaire has a fortune of $3.3 billion and listened to Gates about his 'Giving Pledge' organization, in which the richest people in the world give at least half of the fortunes to charity while still living.
    “What we earn must be returned for the greater good of society,” the 62-year-old said at an event yesterday to celebrate the 10th anniversary of Vedanta’s listing on the London Stock Exchange. “Life is not only about wealth.” The Giving Pledge was founded by Gates and fellow billionaire Warren Buffett, who is the 3rd wealthiest person in the world with over $67 billion. So far the Giving Pledge organization has signed 127 billionaires of the over 2200 billionaires in the world.

    Philadelphia Inquirer Owner One Of Seven Dead In Plane Crash

    Seven people died Saturday night in a fiery private plane crash at Hanscom Field in Bedford, Massachusetts, including the new owner of the Philadelphia Inquirer. The Inquirer announced co-owner Lewis Katz's death on their website Sunday morning. Katz,72, was joined on the plane by his neighbor Anne Leeds, 74, and Marcella Dalsey, the executive director of his son Drew's foundation. Authorities have yet to announce the identities of the other passengers who perished. Thank you to MailOnline for this story and photo.

    Rachel 'Bunny' Mellon - Listerine Heiress Dead At 103

    Rachel 'Bunny' Mellon, the deeply private heiress caught up in the spectacular downfall of former Senator John Edwards' political career, has died at 103.

    Her 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.

    Billionaire Owner Of Indianapolis Colts Arrested

    Billionaire Indianapolis Colts owner Jim Irsay was arrested Sunday evening it was announced by Carmel, Indiana police. "During the course of the investigation, Irsay subsequently failed several roadside sobriety tests," Lt. Joe Bickel of the Carmel police said in a statement. When police searched Irsay's Toyota Highlander, "multiple prescription drugs were discovered in pill bottles. These Schedule IV prescription drugs were not associated with any prescription bottles found in the vehicle."
    The 54-year-old admitted battling substance abuse in the past, including admissions of treatment for prescription drug use and has claimed that he quit alcohol 15 years ago.
    Irsay's father, the late Robert Irsay, was a self-made multi-millionaire, a construction magnate who bought the Baltimore Colts in 1972 and controversially moved the team to Indianapolis in 1984. After his death in 1996, he left his fortune, including the Colts, to Jim, who is now worth an estimated $1.6 billion.  Irsay faces four Class D felony counts, each of which can carry between six months and three years in prison. 

    Last Surviving Grandchild of Automaker Henry Ford Dies

    Billionaire William Clayton Ford Sr., owner of the Detroit Lions and the last surviving grandchild of original automaker Henry Ford has died at age 88. Having bought controlling interest in the Lions in 1963 for $4.5 million, Ford was the figurehead for the franchise for over five decades. Ford had been the last surviving grandchild of Henry Ford, and made his money through the Ford Motor Company, where he served on the board of directors for 57 years. The Lions have not announced who will take over the team, though William Clay Ford Jr. could be a candidate. Ford Jr. currently serves as the team's vice chairman as well as the executive chairman of Ford Motor Company.

    Millionaire Shepard's Chapel Pastor Arnold Murry Dies At 85

    In a statement from their website, The Shepard's Chapel, it was announced, "We regret to inform the congregation that Pastor Arnold Murray passed away on Wednesday, February 12th 2014. We have no doubt the Lord greeted Pastor Murray with a hardy, "Well done My good and faithful servant."" 

    Pastor Arnold Murray was a jolly man who taught the bible in a way that really helped people understand what was really being said which made it much easier to understand the teachings of the Bible. The Pastors in depth knowledge of the Bible allowed him to interpret It in a way that he was able to help "put you there" in the shoes of the person he was talking about and explained things to his followers. A very private man, and as pastor of the Shepherd’s Chapel Church, located in Gravette, Arkansas, he built the largest independent Christian television network in the world. He also served a President of the Shepherd’s Chapel Network. 

    Wikipedia has said "Since 1985, Shepherd's Chapel has been broadcasting one-hour televised Bible studies over its satellite network on over 225 television stations on DirecTV and Dish Network - it is thought to be the largest independent Christian television network in the world. Pastor Murray teaches a "chapter-by-chapter, verse-by-verse study of God's Word; the Bible".

    Pastor Murray proudly served our country in the United States Marine Corps as a combat Marine serving in Korea, he made the Incheon landing and survived the Chosin Reservoir Campaign. He enjoyed working with the machinery on his farm and being outdoors. Pastor Murray was an instrument rated airplane pilot, and he enjoyed flying his entire life. He enjoyed life and helped millions others learn to enjoy theirs too.

    Born April 20, 1929, in Waurika, Oklahoma, to Edgar Dude Murray and Casey Brown Murray, he was preceded in death by his loving wife of forty-six years Anna Murray, and his son David Vernon Murray, who past away last year unexpectedly.  Pastor Murray is survived by his son Dennis Arnold Murray and his wife Marion, of Gravette, his sister-in-law Martha Sweeter, also of Gravette, his granddaughter, Jessica Murray Pike, and her husband Luther Pike, of Hiwasse, and one sister Fayezel Jackson, of Houston, Texas.

    Funeral arrangements are being made by Bella Vista Funeral Home & Crematory. A memorial service for Pastor Murray will be held on April 5th at 10:00 a.m. at the Chapel. The Murray family has asked that donations be made to the charity of your choice in lieu of flowers.

    Gates Leaves Chair Role At Microsoft; Nadella Named CEO

    Microsoft has named Satya Nadella (pictured left), an executive in charge of the company's small but growing business of delivering software and services over the Internet, as its new CEO. Company founder Bill Gates is leaving the chairman role for a new role as technology adviser.

    The software company announced, Tuesday Feb 4, that Nadella will replace Steve Ballmer, who said in August that he would leave the company within 12 months. Nadella will become only the third leader in the software giant's 38-year history, after Gates and Ballmer. 

    Nadella, who is 46 and has worked at Microsoft for 22 years, has been an executive in some of the company's fastest-growing and most-profitable businesses, including its Office and server and tools business.

    Board member John Thompson will serve as Microsoft's new chairman.

    Amazon Billionaire Jeff Bezos Has Kidney Stone Attack

    Amazon Billionaire Jeff Bezos suffered a kidney stone attack while vacationing in the Galapagos Islands and was airlifted from a cruise ship by the Ecuadorian Navy. Galapagos Digital  reported today that the new owner of the Washington Post was flown by helicopter from a cruise ship off Santa Cruz Island to Baltra Island after suffering a kidney stone attack on New Year's Day.

    From there he took his private jet back to the United States to receive treatment. Bezos is said to be in good spirits even joking in an email to Reuters.

    Major Money Donor Billionaire Harold Simmons Dead At 82

    Dallas billionaire and huge GOP political donor Harold Simmons, who has given tens of millions of dollars to Republican candidates, has died at age 82.

    Simmons' spokesman Chuck McDonald said Simmons died yesterday at Baylor University Medical Center in Dallas. No cause of death has been announced.

    "His legacy of hard work and giving will live for generations," Texas Governor Rick Perry said in a statement.

    Attorney General Greg Abbott said that Simmons shared his success with the state he dearly loved, giving generously to make advancements in healthcare and to improve higher education. Simmons' has given tens of millions to Texas organizations, including charities, medical groups, education groups and civic organizations. A UT Southwestern Medical Center spokesman said his donations to their institution alone approached $200 million.

    He has also given money to political candidates, including Texas Governor Rick Perry and former presidential candidate Mitt Romney.  He currently sits at No. 40 on Forbes' list of the 400 wealthiest Americans with a net worth of $10 billion as of the fall, according to Forbes.

    According to a biography on his namesake foundation's website, Simmons earned his bachelor's and master's degrees from the University of Texas.

    He decided at the age of 29 to buy a small Dallas drugstore, according to his biography. He went on to buy Williams Drug Co. in 1966 and 30 more drug stores the next year, followed by an $18 million buyout of Ward's Drugstores in 1969. He sold his stores in 1973 for $50 million in Eckerd stock. He then started a career as an investor, buying major positions in publicly traded companies.

    According to The Dallas Morning News, his foundation has also recently donated $600,000 to Resource Center, a group that serves the city's lesbian, gay, bisexual and transgender community.

    One of Harold’s best friends, fellow billionaire and Texas oil tycoon,

    T. Boone Pickens said in a statement, “Harold accomplished so much in his life. He was a passionate person - passionate about his family, his business, philanthropy and politics. We should all leave such a rich legacy behind.”  See a few pictures of Harold Simmons Mansion in Dallas here.

    Granddaughter of Billionaire General Foods Founder Marjorie Merriweather Post Murdered By Lover

    The great-granddaughter of heiress and socialite Marjorie Merriweather Post has been found murdered at her luxury spa resort on the Caribbean island of Roatan, Honduras police said Friday.

    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

    Seagram Billionaire Edgar M Bronfman Sr Dead At 84

    Billionaire Edgar M. Bronfman, Sr., the son of legendary Canadian liquor magnate Sam Bronfman, who expanded Seagram Ltd. internationally and transformed the World Jewish Congress into a prestigious global advocacy force, died peacefully Saturday night 12-22-13 at his home in New York surrounded by family. He was 84. No longer the owner of Seagram Ltd, Following his father's death in 1971, Bronfman took over as president, treasurer, and director of Distillers Corporation-Seagrams Ltd. His son Edgar Jr. succeeded him as chief executive officer of the company in 1994 In the 1990s, Edgar Bronfman Jr., altered the focus of the company's operations to the entertainment business by first selling Seagrams' stake in DuPont and then acquiring Polygram, MCA and Universal Pictures. Eventually he orchestrated an outright sale of the entire company to French conglomerate Vivendi, who spun off the liquor operations and eventually sold those to Pernod Ricard and Diageo. Read his obituary here,

    Edgar M. Bronfman Sr. dead at 84

    Students To Walk Out Of Address By Billionaire Shari Arison

    Director of George Mason University Hillel is excited that his university will be honoring the businesswoman who initiated Good Deeds Day, a small but vocal anti-Israel group on campus is protesting that decision.
    Shari Arison, owner of Bank Hapoalim, will speak and receive an honorary doctorate of humane letters at the university’s winter graduation Dec. 19. The American-Israeli is the co-owner with her brother of the Arison Group that includes Carnival Cruise Line and is consistently ranked by Forbes as one of the world’s most powerful women.
    The university recently created the Arison Group-endowed Professor of Doing Good Values following a donation from Arison.
    But according to Students Against Israeli Occupation (SAIA), Arison Investments has companies “directly involved in the illegal occupation and colonization of Palestine.”
    In a letter to the George Mason community, Craig Willse, assistant professor of cultural studies, and senior Tareq Radi noted that, “Given the central role the Arison Group plays in Israel’s illegal occupation and apartheid state, we are deeply concerned that Mason is honoring Arison at commencement.” They also wrote, “It appears that Arison is being honored at commencement because of her donation of funds for a named professorship.”
    The students at George Mason University announced they plan to walk out when the Israeli businesswoman-philanthropist addresses graduation ceremony on Thursday. To learn more about Billionaire Shari Arison see her executive biography on her webpage
    For Shari Arison's Contact or Mailing Address see the Billionaire Mailing List on the Billionaire Addresses page.
    Thank you to  Washington Jewish Week for this story. 

    Billionaire Mars Candy Heiress Avoids Jail After Killing Woman

    The billionaire co-owner of the Mars Candy empire avoided jail on Thursday after she pleaded guilty to misdemeanor reckless driving in connection with a fatal accident in which a grandmother and an unborn baby were killed.

    Mars was driving her Porsche SUV in Loudoun County, VA on October 4, 2013 when she crossed the center line on Route 50 and slammed into a Chrysler minivan.

    Jacqueline Badger Mars, 74, had her driving license suspended for six months and was ordered to pay a $2,500 fine during a hearing in Loudoun County General District Court, Virginia.

    The judge could have sentenced Mars to a year on the misdemeanor charge; however, the family of victim Irene Ellisor asked the judge not to throw Mars in jail.

    A backseat passenger in the minivan - 86-year-old grandmother Irene Ellisor, of Huntsville, Texas - was pronounced dead at the scene. The minivan's driver, Ashley Blakeslee, was eight months pregnant. Her unborn child, Charlie, died.

    Court papers say Mars told a witness she fell asleep just before the October crash. The Ellisor family asked the judge to not jail Mars, saying they had forgiven her. 

    See an aerial view of Jacqueline Mars estate on our sponsors blog Billionaire Addresses.

    Billionaire Murdoch Divorce Finalized

    Rupert Murdoch, the chairman of News Corp. and 21st Century Fox and his wife of 14 years, Wendi Deng Murdoch, have announced the finalization of their divorce. Shaking hands and briefly hugging after a short proceeding in a Manhattan court., "We are pleased to announce that we have reached an amicable settlement of all matters relating to our divorce," the two said in a statement released through a publicist. "We move forward with mutual respect and a shared interest in the health and happiness of our two daughters."

    The terms of the agreement weren't disclosed in court, but a person familiar with the settlement said Wendi Deng Murdoch will keep the couple's Beijing house and their apartment on Manhattan's Fifth Avenue. The couple will share custody of the school-age girls, who are expected to continue living with their mother in Manhattan, said the person, who spoke on condition of anonymity to discuss the personal matters.

    Rupert Murdoch will retain properties elsewhere, including an estate in Bel Air, Calif., the person said.

    The divorce will be finalized after state Supreme Court Justice Ellen Gesmer signs some yet-to-be-submitted paperwork. She told the couple Wednesday she was glad they had resolved the matters amicably.

    See Oprah Winfreys House And Estate
    In Montecito From Above - 20 Aerial Views

    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 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 to look at Oprah's House From Above - An Aerial View Of Her Montecito House 

    Billionaire George Soros Gets Married Again

    Though we featured photos of Billionaire George Soros Mansion and Estate in the past, we are taking a second look at his Bedford, New York estate he used this weekend to get married at for the third time. This time around he married his 42-year-old fiance, Tamiko Bolton. The 83-year-old philanthropist tied the knot with Bolton, a health care consultant, in a small, but lavish, wedding at the Caramoor estate in Bedford, an hour away from New York City. For full coverage of the three day event we recommend reading about it from our friends at DailyMail.
    Our photos of the mansion and estate can be found here, Mega Mansions

    Billionaire Announces He Is Transgender

    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.

    Millionaire Tries To Kill Wife In Greenwich Mansion

    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.

    Diane DeMaio, 54, a local nutritionist and mother of three adult children, lay motionless in a pool of blood in an upstairs closet larger than many bedrooms in town, even by Greenwich standards.  For indepth coverage of this millionaire mystery we recommend reading it on the CTPost

    Now Over 2000 Billionaires On Planet

    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

    For Addresses To All U.S. Billionaires Go Here

    Top 10% Takes Half Of All Earnings Widening Rich-Poor Gap

    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

    Austrailian Billionaire James Packer And Wife Announce Split

    In a joint statement today, Australian gaming billionaire James Packer and wife Erica Baxter have announced their separation. “We remain deeply close friends and incredibly proud parents and our children are our priority going forward,” Packer and Baxter said in the statement. The couple who were married six years ago, have three children. It is Packer’s second marriage. His first marriage in 1999 was to model Jodhi Meares. They divorced in 2002.

    Packer, 45, is Austrailia’s second-richest person with a net worth of $5.9 billion, according to the Bloomberg Billionaires Index and Billionaire World News. He is the largest shareholder of Crown Ltd. (CWN), the country’s biggest casino operator. Erica Baxter, 36, is a former model and singer. Packer was born into a media dynasty started by his grandfather, Sir Frank Packer, and expanded father Kerry Packer. The Packers built their wealth through Publishing & Broadcasting Ltd., owner of Australia’s biggest magazine publisher.

    James Packer inherited the family business at just 38 years old. Within three years, he sold most of his family’s broadcasting and publishing stakes, as well as its cattle ranches, for more than $5 billion. He increased the family’s stake in Crown, and became the company’s controlling shareholder in December 2012. It was also announced on Thursday that Packer  bought the second largest stake in American online real estate website  And life goes on in Our World Of Wealth. Stay tuned for the money to fly or hide once divorce proceedings begin.

    Forbes: Who Got Rich This Week

    Each week, Forbes scans their database of corporate insiders to see who got richer from action in the stock market. The good news is that the major American equity indices avoided a three week losing streak this week, so we have good news, more billionaires for the Forbes Billionaire List.

    First up: Though not quite a billionaire, John W. Allison began the week with $96 million worth of Home BancShares, HOMB, stock. Based in Conway, Arkansas, Home BancShares is a bank holding company with dozens of retail branches throughout Florida, Alabama and Arkansas operating under the name Centennial Bank. The company was founded by Allison and Robert “Bunny” Adcock in 1998 and has since grown by a series of acquisitions. The company sums up its strategy as follows: “We acquire, organize and invest in community banks that serve attractive markets. Home BancShares’ advance netted Allison, the company’s largest individual shareholder, a $23.4 million gain. His 4.6 million shares are currently worth $119.4 million. Not to bad for a weeks work.

    Next: Jon Oringer is now a billionaire. Shares of his company, Shutterstock, SSTK, touched an all time high during trading on Friday, changing hands at $57.49, a price nearly 238% above the firm’s offering price of $17 per share. At Friday’s close, with shares settling at $55.78, Oringer’s nearly 18.5 million shares were worth more than $1.03 billion, after rising 12.25% over the past week. The advance resulted in a $112 million gain for Oringer since last Friday’s close, and a $716.9 million gain since Shutterstock’s initial public offering on October 11, 2012. In addition to building Shutterstock, the increasingly popular online photograph and art marketplace that features more than 27 million images, Oringer created one of the internet’s first pop up blockers and is a certified commercial helicopter pilot.

    Honorable Mention:  Carlos Slim Helu, though already a multi-multi billionaire, had himself a day on Friday. The Mexican telecom magnate made $2.13 billion as the value of his publicly traded holdings rose by 4.48%.  Next week: more rich getting richer. Thank you to

    Billionaire Rupert Murdoch Buys Trophy Estate Moraga Vineyards High In The Hills Above Bel Air

    Billionaire media mogul Rupert Murdoch has completed the purchase of a hillside vineyard estate above Bel-Air (visible from the 405 and the Getty Center) for $28.8 million, the Los Angeles Times reports.

    Billionaire Google Co-Founder Brin Separates From Wife

    Google Inc co-founder Sergey Brin has separated from his wife of six years,  the 40-year-old Silicon Valley mogul is reportedly dating a younger employee.  Brin and Anne Wojcicki married in 2007, have been living apart for several months, the couple's spokesperson said last night. 'They remain good friends and partners,' the spokesperson added.

    The woman said to be seeing Brin has been named in reports as Amanda Rosenberg, a 26-year-old Google Glass marketing manager. There is no suggestion that the couple were dating before Brin separated from his wife.

    Wojcicki, 40, is the chief executive of a biotech firm that Google has invested millions of dollars in and whose sister is one of the Internet search company's top executives.

    Brin and Wojcicki, who have two children and have a prenuptial agreement, are not yet legally separated, the report said. Susan Wojcicki, Anne's sister, is senior vice president of Ads and Commerce for Google and is considered one of the Internet company's top executives.

    The relationship between Google and the Wojcickis dates back to the company's earliest days: in 1998, the search company started by setting up shop in Susan Wojcicki's garage shortly after raising its first funding.

    Google has invested roughly $10 million in 23andMe, the company that Miss Wojcicki co-founded in 2006 and which sells DNA testing kits and provides clients with information about their ancestry and medical conditions.

    Mr Brin is currently worth $22.8billion and holds more than $20billion worth of Google shares.

    Brin and Wojcicki have gained a reputation as a philanthropic power couple, donating tens of millions of dollars to a variety of charitable organizations. In 2012 alone, the couple gave away $223million, Los Angeles Times reported, earning them the distinction of being the fifth biggest donors to U.S. charities, according to the Chronicle of Philanthropy. Much of the funds went to their own charity, The Brin Wojcicki Foundation, which promotes human rights and anti-poverty programs. They have also given tens of millions of dollars to the Michael J. Fox Foundation for Parkinson’s Research, and the couple co-founded a new organization along with Mark Zuckerberg and his wife, Priscilla Chan, which awards $15million prizes to life scientists. Thank you to Daily Mail for this story.

    Son Of Former CEO Of IBM Dies From Choking

    The 41-year-old son of a former CEO of IBM has died after choking on a piece of steak at a New York City diner.

    Louis Gerstner III passed away last Wednesday while dining alone at Lenox Hill Grill Diner on the Upper East Side. According to the owner of the restaurant, the married father of two ordered the $24.99 George’s steak which he washed down with a couple of vodka shots.   'He was fine. It was fine till the last moment,' John Politidis told the New York Post. 'He was just watching TV at the bar.' Grace Brugess, a spokeswoman for the New York City Medical Examiner’s Office, said that he died at Lenox Hill Hospital. The results of Gerstner’s autopsy are pending.

    Gerstner’s father, Louis Gerstner Jr, 71, became the CEO of IBM in 1993. At the time, the technology giant was in dire straits, but Gerstner was able to transform the struggling company on the verge of bankruptcy into a profitable business. Under his stewardship, IBM’s market value jumped from $29billion to $168billion over the course of nine years, Bloomberg reported..  

    Gerstner Jr retired as CEO in 2002, and later wrote a book about his experience turning around IBM's fortunes titled Who Says Elephants Can’t Dance? Mr Gerstner’s impressive resume also includes stints at American Express and RJR Nabisco. Louis Gerstner III graduated from Princeton University and Columbia Business School, and was hired by the private equity firm Forstmann Little. Later in life, Mr Gerstner turned his attention to philanthropy. Most recently, the 41-year-old served as president of the Gerstner Family Foundation, providing education opportunities to underprivileged children, the New York Times reported.

    In 2011, the charity reported $94million in assets. The foundation pledged $2million to the Partnership for Inner-City Education, which pays tuition for low-income children to attend Catholic schools, and $4.6million to fund a study of ADHD.

    Louis Gerstner III is survived by his wife of 14 years, Mary Gervaise Lawhorne; their two daughters, Grace and Olivia; his sister, Dr Elizabeth Gerstner, a neurologist at Massachusetts General Hospital; and their parents.  

    Real estate websites show that Gerstner owned a lavish $2million two-bedroom apartment on the Upper East Side, not far from the Lenox Hill Grill, featuring marble finishings and a health club on site. The 41-year-old philanthropist is also listed as the owner of a massive $12.7million colonial mansion in Greenwich, Connecticut. The imposing 5,884-square-foot brick house nestled in a buclic landscape boasts five bedrooms, at least two fireplaces and a manicured lawn just a few minutes away from the Long Island Sound. Thank you to for this story.

    Socialite Sentenced To Picking Up Trash

    A former New York socialite has been forced to don an unflattering orange jumpsuit and pick up the trash in Los Angeles after attacking her billionaire ex-boyfriend. To read more

    Billionaire Gives Away $3 Million Bonus To Employees

    The head of Russian aluminum producer Rusal is giving his $3 million bonus to 120 Rusal employees, the company announced today.

    Rusal,  is one of the world's largest aluminum producers. Chief Executive Officer Oleg Deripaska is listed by Forbes magazine as worth $8.5 billion. He has been the head of the company since 2009.

    Rusal said the giveaway was a one-time deal for the staff, the BBC reported Saturday. The number of shares the $3 million will purchase amounts to 0.05 percent of the total shares in issue, the report said. The company, employs 72,000 workers in 19 countries.

    Billionaires Fake Will Gets Man 12 Years In Jail

    A judge in Hong Kong on Friday sent a former lover of late billionaire tycoon Nina Wang to prison for 12 years for forging a will naming him the sole beneficiary of her estate, one of Asia's largest fortunes at an estimated $4 billion.

    Justice Andrew Macrae handed down the sentence to Peter Chan, formerly known as Tony Chan, in the city's high court a day after a jury found him guilty on charges of forgery and using a forged document. Chan had pleaded not guilty to a number of charges.

    Sentencing Chan to 12 years, Justice Macrae highlighted the "shameless and unparalleled greed" at the heart of a "well-executed and well-planned" crime.

    "Never once ... have you shown the slightest remorse for your conduct," the judge said.

    Known as "Little Sweetie" after a favorite Japanese manga character, Wang was one of Asia's wealthiest women, with a business empire including the Chinachem Group, Hong Kong's largest private property developer. She died of cancer in 2007 at the age of 69.

    The petite Wang, known for her braided pigtails, miniskirts and pet dogs that she took to boardroom meetings, inherited most of her wealth from her husband, Teddy, who was kidnapped in 1990 and never seen alive again, despite the payment of a $33 million ransom.

    The sentence is the latest setback for Chan, who was ordered in March to pay HK$340 million ($43.8 million) in overdue taxes, and has been hit by the long, costly legal battle for Wang's estate that he lost in 2011.

    Chan, a former bartender and feng shui master who once lived in a cramped public housing flat, changed his name from Tony after that ruling and converted to Christianity this year.

    In 2011, the high court upheld a previous judgment that a 2006 will leaving Wang's entire estate to her former lover and feng shui master was a forgery. Instead, it upheld an earlier will bequeathing her fortune to a charitable foundation run by Wang's family.

    Billionaire Silvio Berlusconi, Former Prime Minister, Sentenced To 7 Years

    Just In -Known for his many infamous scandals, former Italian prime minister Silvio Berlusconi, was convicted on Monday June 24, 2013 of paying for sex with a minor and sentenced to 7 years in prison and a lifetime ban on holding public office.

    But while Berlusconi certainly was looking for a different verdict, he’s far from defeated. According to Italian law, he won’t serve any of the sentence until after his appeals are exhausted, a process that could take years. And even if the sentence is eventually upheld, reports say that he likely wouldn’t spend any time in jail because Italian custom is to not incarcerate people of his age, which is 76.

    Lauder Heir Gives $ 1.1 Billion Donation

    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.

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    Facebook Co-Founder Worth 6 Billion Could Be Barred From The United States For Trying To Avoid Paying $67 Million In Taxes By Renouncing U.S. Citizenship

    Facebook cofounder Eduardo Saverin has renounced his US citizenship. Doing so, he will probably save around $67 Million in taxes. But now he's also liable to be "excluded" from physically re-entering the United States.

     US immigration law does not look kindly on former citizens who renounce their citizenship to avoid US taxes. Specifically, it doesn’t look like Saverin should ever be able again to get a visa to enter the United States again.

    Sec. 212. [8 U.S.C. 1182] details general classes of aliens ineligible to gain entrance into the United States. And the law specifically references people in Saverin’s category which is as follows: Former citizens who renounced citizenship to avoid taxation.-Any alien who is a former citizen of the United States who officially renounces United States citizenship and who is determined by the Attorney General to have renounced United States citizenship for the purpose of avoiding taxation by the United States is excludable"

    This is what we at Billionaire World News put in our “Greedy Class”.   He has 6000 Million Dollars, again that's 6 Thousand Million, but won’t help our country out with just 67 of those million to save his citizenship and pay taxes like everyone else.  Seems to me people are really showing that they really DO only care about money nowadays. Shame, Shame. 

    UPDATE: Eduardo Saverin now tells the US he will pay taxes in both the United States and his home country. We here at Billionaire World News believes the pressure applied by U.S. authorities stating he may never be welcome again in the United States had just a little to do with "his change of mind"    Ken Williams reporting for Billionaire World News

    Big Banks Fined $9 Million Over Risky Products

    Four of the nation's biggest banks were sanctioned on Tuesday over failing to supervise the sale of risky products to retail investors.

    The banks -- Citigroup, Morgan Stanley, UBS and Wells Fargo -- agreed to pay regulatory fines of more than $9 million to settle cases tied to exchange-traded funds.

    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.

    Read Entire Story Here

    Garage Sale Antique Deed Worth $130 Million In Coke Stock?

    When the late Tony Marohn bought an old deed for a couple bucks back in 2008 he had no idea what it would stir up after his death. Marohn's family now claims it is owed a $130 Million stake in Coca-Cola Company.
    The antique Palmer Union Oil Company Stock Certificate, was traced by way of several other companies before being bought by Coke. His family has now taken on a legal battle with Coke saying they are entitled to about 1.8 million shares of the soft-drink maker. Read Entire Story Here

    Billionaire Hedge Fund Index

    Insider Monkey introduced its daily Billionaire Hedge Fund Index May 1, 2012. We track nearly 400 hedge fund managers and prominent investors. Around 10% of these people are billionaires. We created this Billionaire Hedge Fund Index to track the top 30 holdings of these 39 billionaire fund managers. Warren Buffett, George Soros, John Paulson, Jim Simons, David Einhorn, Ray Dalio, and T. Boone Pickens are some of these fund managers. Each stock’s weight was in proportion to the number of billionaires who had at least $10 million invested in the stock.
    See All The Top Hedge Fund Managers Here At
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    British Royal Family Wealth Disclosed By Wealth-X

    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.

    How 21,000 Wealthy Americans Avoided Paying Income Tax

    The richest woman in Wisconsin, Diane Hendricks, is worth an estimated $2.8 billion, but she did not pay a dime in state income tax in 2010, the Milwaukee Journal-Sentinel first reported.

    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.

    A recent IRS report showed that 20,752 households that reported earning more than $200,000 in 2009 paid no federal income taxes. About 1,500 of those tax-free Americans were millionaires.

    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."
    Thank you to Amy Bingham | ABC OTUS News

    Facebook Billionaire Moskovitz Not Into Wealthy Lifestyle

    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.
    Read Entire Story on Yahoo

    Multi-Billionaire Trys To Control Missing Son's $100 Million Share Within Hours of His Disappearance

    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

    Texas Billionaire Red McCombs Donates For Chimp Attack

    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.

    Billionaire Paid Two Times What Mansion Is Worth

     The Russian tech Billionaire Yuri Milner who paid $100 million for a Silicon Valley mansion last year, broke sales records at the time. But now the Santa Clara County assessor says he overpaid for the property, by about double the cost. 

    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.”

    Meet The "Richest Man In The World", Carlos Slim

    Exclusive: Carlos Slim is a multi-billionaire with a difference. Shunning a lavish lifestyle, his passion is for fine art and he is about to open a museum in Mexico, named after his late wife, so that others can appreciate his enormous 'money no object' collection.   Read More Here

    Google Fined $25,000.00 For Street Data Collection

    WASHINGTON (Reuters) - Google Inc faces a $25,000 fine for impeding a U.S. investigation into the Web search leader's data collection for its Street View project, which allows users to see street level images when they map a location.  Read More Here
    The Bird Shed

    Forbes Richest Americans List Released

    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:

    1. Bill Gates, co-founder and chairman of Microsoft, $66 Billion
    2. Warren Buffett, chairman and chief executive of Berkshire Hathaway, $46 Billion
    3. Larry Ellison, co-founder and chief executive of Oracle, $41bn
    4. Charles Koch, chairman and chief executive of Koch Industries, $31 Billion
    5. David Koch, co-owner and executive vice-president of Koch Industries, $31 Billion
    6. Christy Walton & family, heiress to Walmart fortune, $27.9 Billion
    7. Jim Walton, heir to Walmart fortune and chairman of Arvest Bank, $26.8 Billion
    8. Alice Walton, heiress to Walmart fortune, $26.3 Billion
    9. S Robson Walton, heir to Walmart fortune, $26.1 Billion
    10. Michael Bloomberg, founder and principal owner of Bloomberg LP, $25 Billion
    11. Thank to BBC for story. For All Forbes Richest Americans Address List See Here

    The Mystery Of The Missing Fort Lauderdale Millionaire

    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

    Housekeeper's Daughter Tries To Blackmail Billionaire

    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.

    More Billionaires Sign On To Give Their Money Away

    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.
    There are now more than 125 Familes that have pledged to give the majority of their wealth to Philanthropy.
    See Who Has Joined The Giving Pledge Here

    See The Wealthiest People In Each State

    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

    "LaGarde List" Exposed

    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 Icahn Buys 10% of NetFlix

    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 Uses $33 Million And Tries To Buy A State Law 

    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

    Billionaire Geffan Sets Record With Penthouse Purchase

    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 for this story.

    The Five Largest Landowners In The United States

    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 Rich Got Even Richer In 2012

    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 Spreads His Wealth

    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

    The Two Richest Men In The World Partner For Hunger

    It was announced today, the richest man in the world, Mexico's Carlos Slim, and the second richest man, US Billionaire Bill Gates, have partnered to help end hunger.

    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

    Billionaire Prince Says Saudi Arabia Is In Far Bigger Trouble Than The Other Royals Want To Admit

    Saudi Arabia, home to the world’s largest reserves of cheap-to-drill oil, describes itself as a painstaking economic planner. It plots to keep current oil prices stable even while diversifying for harder economic days ahead. These practices have, among other things, resulted in the accumulation of $700 billion in official foreign reserves.

    This self-depiction has always aroused suspicion since outsiders typically see little more than what the Saudis wish them to. But now a 14-page screed by one of the nation’s most prominent billionaire princes suggests internal dissent on whether the kingdom is planning painstakingly enough. Alwaleed bin Talal, a jet-setting nephew of King Abdullah who owns stakes in Apple, Citigroup and Twitter, says that Saudi Arabia faces a dire threat.

    The main trouble, Alwaleed tweeted on July 27, is a flood of new petroleum reserves on to the global market, particularly shale oil from the US. These fresh supplies are eroding demand for Saudi petroleum and, since the country relies on oil exports for 92% of the state budget, will trigger a crisis unless the government acts post-haste.

    “It is necessary to diversify sources of revenue, establish a clear vision for that and start implementing it immediately,” Alwaleed wrote in one of three letters that he posted with the tweet.

    The letters, addressed to a variety of Saudi dignitaries including the king, are all dated in April and May. One can only speculate as to why Alwaleed made the highly unusual public release, but it may be that he felt his message was not heard. If so, it may be because his assertions diverge so much from the official Saudi message. On May 10, for example, Saudi oil minister Ali Naimi (one of the recipients of the letters), told a Washington audience that shale oil is “great news” for the US, and no threat to his own country.

    There could not be a more stark contrast in news: the Saudis officially claim that they are building a gigantic array of solar panels that by 2020 will produce 24 gigawatts of power, and all but eliminate the need to burn oil for electricity. (Saudi currently burns 550,000 barrels a day of oil for its own needs, worth billions of dollars a year in potential export earnings.)

    But Prince Alwaleed says that is not nearly enough. “Everybody knows that the policy of the western countries, led by the United States, is to decrease dependence on oil,” he wrote in green ink at the bottom of one letter. Because of that policy, he said, "The global dependence on OPEC’s petroleum and specifically the production of Saudi Arabia is in continuous and clear decline."

    If the past is a teacher, Saudi leaders will either ignore or publicly dismiss Alwaleed’s assertions. But Twitter is popular with businesspeople in the Gulf as a forum that bypasses the straitjacketed mainstream press. Turning to it looks like an attempt by Alwaleed to bring direct pressure from public opinion to bear on the Saudi elite.

    Thank you to writer Steve LeVine for this story.

    Billionaire George Mitchell Dead At Age 94

    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's Steve LeVine for the obituary.

    Billionaires, Millionaires, and CEO's
     With Secret Hidden Bank Accounts Revealed

    We are now revealing the names and companies found by the ICIJ - International Consortium of Investigative Journalists, that have secret offshore bank accounts hidden all over the world. Search the database or download the entire database in one easy cvs (Excel) file. Find the story and links on our page, Hidden Bank Accounts Search

    Wealthy Zip Codes Housing Sales Report Mansion Shortage

    Agents for high-end estates are warning of a potential housing shortage facing the very wealthy, there simply aren’t enough mansions for those interested. A scarcity of housing inventory is especially prevalent in some of America’s wealthiest ZIP codes, according to figures from real estate firm Altos Research. 

    In the country’s 90 richest ZIP codes, mansion availability has fallen 15 percent from last year, but in the very richest ZIP codes salable inventory has dropped more than 50 percent.
    Carmel, California has seen the inventory of homes priced over $1 million drop by 76 percent.

    Of the wealthiest zips, Palm Beach, Florida has fallen 70 percent and Old Greenwich, Connecticut is down 58 percent. There just isn’t the selection of mega mansions there used to be. Areas like Carmel and Pebble Beach, in California, have seen a rush of buyers from Silicon Valley, Europe and Asia. 

    ‘We are seeing an influx of luxury second home buyers coming into the market including venture capitalists, tech money, oil and gas, developers and CEO's,’ said Tim Allen, of Tim Allen Properties in Pebble Beach, told CNBC.
    In Palm Beach, Cristina Condon of Sotheby's International Real Estate said the market is split between people from overseas but also Americans from other states attracted by Florida’s low taxes and lower prices.

    ‘Mansions in Old Greenwich are selling just days after being listed. The market is super hot there’, said David Oglivy, of brokerage David Oglivy & Associates.

    ‘About half the buyers are people moving within Greenwich and others are moving from New York City and other areas’, he said.

    The hard times of wealthy people.

    Millionaire Widow Ordered To Give Part Of $250 Million Fortune To Given-Up Adopted Child

    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)

    Click here to read more about this story at the

    Billionaire GoDaddy Founder Gives Band $10,000.00

    The billionaire founder, executive chairman, and owner of, Bob Parsons, has given a $10,000 check to the Patriotic rock band Madison Rising, it was revealed today. The legendary entrepreneur of #1 domain registrar, sent them a surprise $10,000 check days after seeing the band perform in Scottsdale, AZ.
    “It was an absolute honor to meet Bob at the concert,” said Madison Rising lead singer Dave Bray, a Navy vet. “The way he introduced us gave me chills. I couldn’t believe it when we got a package from him a few days later and saw what was inside.”
    Parsons who really likes their version of The Star Spangled Banner, introduced them saying, “I’m proud of the way the Star Spangled Banner is done… but these guys take it to whole new level. Join me as we have our National Anthem played by my favorite group, Madison Rising.”
    Madison Rising released its widely acclaimed version of the Star Spangled Banner last summer, updated with a special addendum to reflect our nation’s struggles at the dawn of the 21st century.
    Madison Rising will perform at the Chameleon Club in Lancaster, PA this Friday, May 3, 2013

    Billionaire Founder Of 99 Cent Stores Dies At 80

    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.

    Johnson and Johnson Billionaire Dies

    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

    The Worlds Biggest Money Donors

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    Billionaire Owner Of Sinclair Oil Dies At 86

    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.

    Fraud, Failure, Busted, And Bailed Out
    All Pays Well For CEO’s

    A significant number of America’s highest-paid chief executives have found themselves in hot water over the past 20 years, according to a new study.

    Roughly 40 per cent of CEOs among the 25 highest-paid in the US have been fired, fined or bailed out, according to the report released Wednesday by the Institute for Policy Studies. This finding comes despite their astronomical pay – about 354 times the average – coming with an expectation for sky-high performance. Companies paying a premium for elite talent often do not realize the return they expect, the report says. In at least one instance, a CEO ended up with a conviction that would have led to jail time had he not died before sentencing.

    The non-profit analyzed the 25 highest-paid CEOs for the each of the past 20 years and found that almost half of them had paid some sort of price for their poor performance. Of the CEOs on the list, eight per cent were fired, but received ‘golden parachutes’ averaging $48 million each upon their exit, according to the report.

    Of the fined, eight per cent ended up costing their firm’s over $100 million in fines each, with one CEO paying fines out of pocket, for stock option back-dating, according to the report. Most scandalously on the list are financial executives, all of whom ‘were forced to receive bailouts for running their companies into the ground,’ according to the report.

    In fairness, financial industry CEOs didn’t have much of a choice when it came to bailouts received though the Troubled Asset Relief Program (TARP). All large banks received TARP bailouts whether they wanted/need them or not. The most publicized of those was Lehman CEO Dick Fuld. While Fuld pocketed over $466 million in compensation between 2001 and 2007, according to Reuters, he reportedly contributed to the once prestigious firm’s spectacular 2008 collapse.

    Even more notorious is Kenneth Lay. As Enron CEO, Lay saw the firm rise to prominence on the back of predatory energy trading and book cooking the likes of which was unprecedented in American history. While handsomely reaping the benefits of a top 25 CEO, Lay oversaw the greatest corporate bankruptcy in American history, prior to Lehman. Enron’s collapse put thousands out of work, wiped out the pensions of many life-long employees and resulted in a Houston federal jury finding the chief executive guilty in 10 counts of securities fraud and conspiracy. Facing the rest of his life in prison, according to the New York Times, Lay died of a heart attack before his sentencing.

    The report suggests that reigning in CEO pay is the only answer to this problem.

    Reforms surrounding the disclosure of CEO to worker pay ratio and pay restrictions on financial firm CEOs specified in Dodd-Frank legislation still not yet implemented three years after President Barack Obama signed the bill into law are suggested. Another suggestion is closing the IRS loophole that allows companies to deduct executive compensation from payroll taxes, which the report calls ‘outrageous.’  Thank you to for their imput in this story.

    Zara Billionaire And Co-Founder Rosalia Mera Dead At 69

    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.

    Billionaire Carl Icahns Tweet Raises Apple Stock $17 Billion Really Showing The Power Of Social Media

    With just one tweet billionaire investor Carl Icahn validated the power of social media and showed there is no such thing as an efficient stock market. He also made himself more than $50 million and 'unlocked value' to the tune of $22 billion for Apple. Icahn said via Twitter he has amassed a "large position" in Apple and believes the stock could be worth as much as $700 a share if Chief Executive Tim Cook pushed for a larger stock buyback. The surprise revelation from the billionaire activist caused a stir on Wall Street that within 3 hours pushed Apple's stock shares up $17 billion and then ended the day, after leveling off somewhat, almost 5 percent higher than the days start, at a 7-month high of $489.57.

    The Bilderberg Conference - See Exclusive Guest List

    Bilderberg Conference is an annual private conference of approximately 120 to 140 invited guests from North America and Europe, most of whom are people of influence. About          one-third are from government and politics, and two-thirds from finance, industry, labour, education and communications.
    The conference was founded in 1954 as an annual event designed to foster dialogue between Europe and North America. Though some believe a lot of "secretive" talks also happen amoung the dignitaries. Between 120 and 150 people take part each year.

    A Bilderberg spokesman said in a press release: ‘The conference has always been a forum for informal, off-the-record discussions about megatrends and the major issues facing the world.It is said that this year,

    they will also debate subjects including ‘can the U.S. and Europe grow faster and create jobs’, ‘how big data is changing almost everything’, ‘U.S. foreign policy’ and ‘Africa’s challenges’. We sure hope they find a solution to all the worlds problems this year! Don't hold your breath!

    Given the amount of prestigious names set to attend the event at the luxury hotel, local police have been forced to step up security, which will be part-funded by the government.

    The cloak of secrecy surrounding the meetings, which ban most journalists from attending, has fuelled various conspiracy theories, including that attendees are plotting world domination. As a result, there are fears that anti-capitalist protesters will cause ‘violence and disturbance’.

    To see the full list of those in attendance and a few images of the hotel, please see Bilderberg Guest List 2014.

    Howard Stern Buys $52 Million Palm Beach Mansion

    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

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