businessinsider.com
Earlier this week, Jefferies CEO Rich Handler sold $65 million worth of stock in the investment bank — enough to warrant a press release — partly to buy a yacht from his friend and client, hospitality billionaire and Houston Rockets owner Tilman Fertitta.“My sale of shares today was a gift to myself and my family,” Handler said in the release.It’s a pretty good gift. The boat in question is a 50-meter superyacht named Boardwalk.According to the yacht’s shipyard, Westport Yachts, the off-market d…
5 days ago
businessinsider.com
As the old saying goes, nothing can be said to be certain except death and taxes. And even though the very wealthy have been criticized for not paying their fair share, there’s one area where it’s pretty hard to avoid the taxman: property.Every year, billionaires must take out their checkbooks and send off thousands to their local governments. While the amount they pay is typically pennies compared to their overall net worth, some billionaires who have amassed large real estate portfolios pay ta…
9 days ago
businessinsider.com
Ten years ago, in an interview with The Telegraph, Bill Gates discussed his goal of giving away his fortune — which was worth $65 billion then and sits at $129 billion today.“I’m certainly well taken care of in terms of food and clothes,” he said. “Money has no utility to me beyond a certain point.“He didn’t mention, though, the proverbial roof over his head. Or, in Gates’ case, roofs.As one of the richest people in the world for decades, the Microsoft cofounder has built up an impressive real e…
12 days ago
businessinsider.com
Taylor Swift released her new album, “The Tortured Poets Department,” at midnight, and, in what should be no surprise to anyone on this planet in the year 2024, it caused a scene.Her album garnered millions of streams within hours. There’s almost no doubt it’ll top the Billboard chart like the 13 Swift albums before it.But no matter how many platinum certifications it collects or streams it racks up on Spotify, “The Tortured Poets Department” won’t be Swift’s biggest money-maker this year.The re…
13 days ago
businessinsider.com
There are still few details known about why federal officials raided the Los Angeles and Miami homes of musician Sean Combs in March.The Associated Press and Los Angeles Times reported that the move is part of an ongoing sex trafficking investigation by Homeland Security. The department has not confirmed the target of the investigation nor the crimes it is investigating.The raids come after Combs, more commonly known as Diddy, has been hit by a series of lawsuits alleging sexual assault, sexual…
23 days ago
businessinsider.com
For the owners of superyachts, privacy is often the most valuable thing money can buy. It’s one reason centimillionaires and billionaires pay eight or nine figures for a palace at sea, far from the prying eyes of land-dwellers.Even the most gossipy crewmembers should stay tightlipped about the name of a former owner or charter guest, and many brokers shy away from answering benign questions.That means that, aside from basic safety guidelines, most of the rules of superyachting are unwritten. The…
30 days ago
businessinsider.com
The price of getting a degree has continued to climb at American universities, with the cost of some schools reaching a new threshold. It’s leaving many wondering if it’s a good investment.Schools like New York University, Tufts, the University of Pennsylvania, and Yale are pegging the total cost of university attendance — which covers tuition, housing, food, supplies, books, and more — for the 2024-2025 school year at over $90,000, according to their websites.NYU, already known for its high fee…
about 1 month ago
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It’s been just about a year since Koru, Jeff Bezos’ $500 million megayacht, set sail from the Oceanco shipyard in the Netherlands, capturing the attention of yachting insiders and land dwellers alike.Even after her first season at sea, the 127-meter ship is still one of the most talked about vessels among those in the know — and not just for the busty figurehead on its prow, which many have wrongly speculated is based on Bezos’s fiancée. Koru was a hot topic at the annual Palm Beach Internationa…
about 1 month ago
businessinsider.com
Federal officials raided the Los Angeles and Miami homes of Sean Combs on Monday. The action by Federal Homeland Security Investigations is part of an ongoing sex trafficking investigation, the AP reported.While the target of the raid has not yet been identified and Combs has not been arrested as of Tuesday, it was the latest and most serious event in ongoing legal troubles facing the music mogul, who is best known as Diddy. Over the past five months, sexual assault and misconduct allegations ha…
about 1 month ago
businessinsider.com
The Palm Beach International Boat Show — the yacht world’s flashiest event stateside — is returning this year with over 800 boats for both deep-pocketed potential owners and window shoppers to peruse.While it’s impossible to know what exactly will be on display until the show begins on Thursday, it’s expected that eight megayachts — generally defined as ships over 60 meters long — will be docked at the show and at nearby marinas like the Rybovich Marina in the ritzy Florida town.Some of these ar…
about 1 month ago
businessinsider.com
There are currently at least 40 celebrity beauty brands on the market — all experiencing varying degrees of success.Some, like Hailey Beiber’s Rhode, have gained a following among devoted fans; others, like Addison Rae’s Item Beauty, have quietly fizzled out, and still more, like Brad Pitt’s Le Domaine, have barely made a splash in the first place.Very few have become significant players, and even fewer have reached valuations high enough to catapult themselves to the top of the industry and the…
about 1 month ago
businessinsider.com
In the world of superyachts, privacy is the most valuable asset. It can be next to impossible to discern the details of a superyacht transaction — and that’s particularly true if the vessel in question is worth nine figures.Yet some in the boat blogging world are speculating that Meta CEO Mark Zuckerberg is the new owner of Launchpad, a megayacht currently moored in Fort Lauderdale, Florida after she made her maiden voyage from Gibraltar to St Maarten last week. Launchpad clocks in at 118 meters…
about 1 month ago
businessinsider.com
Reddit, which is set to go public later this month, announced its target share pricing on Monday — and Sam Altman stands to reap a sizable windfall.While his personal shares aren’t worth the nearly half a billion dollars that has been reported, they do amount to a fortune.Business Insider estimates that the OpenAI CEO owns a maximum of just about 1.66 million shares of Reddit. With the company’s estimated price per share at $31 to $34, Altman’s stake in Reddit could be worth between $51.4 millio…
about 2 months ago
businessinsider.com
Rihanna — the global music superstar turned billionaire beauty mogul — took to the stage this past weekend, performing her first full concert in eight years for the likes of Bill Gates, Mark Zuckerberg, and Ivanka Trump. The reason: To celebrate the upcoming nuptials of Anant Ambani, the son of India’s richest person, Mukesh Ambani, and his fiancée, Radhika Merchant.The performance, on night one of a three-day affair in Gujarat, India, did not come cheap. It’s speculated she got paid between $5…
about 2 months ago
businessinsider.com
Last week, not long after Reddit made moves toward a public listing, headlines began to appear about an unexpected figure: Sam Altman.Altman, tech’s most in-vogue wunderkind and the CEO of OpenAI, owned nearly 9% of Reddit, multiple outlets, including Business Insider, reported. If Reddit were to hit the market at its target price of $5 billion, his stake would be worth an eye-popping $435 million, certain publications extrapolated.But a closer read of Reddit’s S-1, the document a company files…
2 months ago
businessinsider.com
The Birkin bag. A square silk scarf printed with horse bridles. A cashmere throw blanket splashed with the letter H. For years, Hermès’ iconic products have been coveted by those in the know.Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering.Over the past year, Hermès’ stock has climbed more than 30% despite a slowdown in luxury spending amid economic uncertainty and dwindling pandemic cash, while L…
2 months ago
businessinsider.com
Bethenny Frankel was once famous just for being a Real Housewife. Now, she’s cashing in as an influencer — something she uses English muffins to demonstrate.A couple of weeks ago, she posted a video to TikTok. With her trademark mix of fast-talking brash honesty and humor, she slammed the Thomas’ English muffin sleeve.“Can we improve this package?” Frankel ranted. “This is really from the dark ages. Fred Flinstone is eating an English muffin like this.“In return, Thomas’ sent her a box of produc…
2 months ago
businessinsider.com
It’s a tale as old as our convoluted tax code: Rich people will do anything, including move across the country, to avoid paying taxes.Jeff Bezos announced in November that he was leaving Washington state, his home for 29 years, and moving to Florida with his fiancée, Lauren Sánchez. The pair scooped up two properties for $147 million in the exclusive Indian Creek Village, an island off Miami known as the “billionaire bunker.“He cited a slew of reasons for the move: He wanted to be closer to his…
3 months ago
businessinsider.com
On Sunday, Usher will perform what will likely be the single most-watched live musical performance of the year — and he will barely be paid for it. At least not directly.More than 100 million people tune in to the Super Bowl yearly, but the halftime show performers are not typically paid any more than SAG-AFTRA’s minimum union rate. For Usher, that amounts to $671.00 for the performance itself, a union spokesperson told Business Insider.He’ll also get paid for the rehearsals leading up to the bi…
3 months ago
businessinsider.com
The Super Bowl is always a hot ticket, but this year’s big game, which boasts exciting quarterbacks, a popular host city, and, of course, Taylor Swift, is expected to be the most expensive yet.Including the actual tickets — the cheapest going for more than $8,000 — and Las Vegas hotel rooms and flights, it’s not inconceivable to imagine most attendees could spend five figures for the weekend in Sin City.The ultrarich, though, are expected to spend many times that.The Super Bowl has always been a…
3 months ago
businessinsider.com
Bob Iger’s return to Disney is starting to look a little more like a victory lap.After a challenging first year back at the House of Mouse, things are now looking rosier, with CEO Iger pairing a strong earnings report with a slate of announcements, including partnerships with Epic Games and Taylor Swift and a forthcoming sports streaming platform.The robust results should give the notably confident Iger ammunition in his ongoing battle with activist shareholders, including Nelson Peltz, who have…
3 months ago
