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9 mentions found


☆ A second person has been accused in the abduction of Mint Butterfield, child of Slack and Flicker founders
  + stars: | 2024-05-01 | by ( Mikhaila Friel | ) www.businessinsider.com   time to read: +1 min
Charges were filed in the disappearance of Mint Butterfield, naming a second person. Butterfield was found after six days of missing in San Francisco. AdvertisementA second person is facing charges over the disappearance of Mint Butterfield, the teen child of two tech founders. They are the only child of Caterina Fake and Stewart Butterfield, who cofounded Flickr together in 2004. Stewart Butterfield also cofounded Slack and is worth around $1.6 billion, according to Forbes .
Persons: Mint Butterfield, Butterfield, —, Caterina Fake, Stewart Butterfield, Slack Organizations: Mint, Service, Forbes, Business Locations: San Francisco, San Francisco's Tenderloin
☆ Billionaire heirs are getting richer than entrepreneurs as old money prevails amid IPO chill
  + stars: | 2023-11-30 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +3 min
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As for American billionaires, heirs reported an average net worth of $2.2 billion, topping billionaire entrepreneurs by $700 million. The uber-wealthy have many tools at their disposal to bestow more money to heirs and pay less to the government. AdvertisementThese dynasties will likely compound their riches with more heirs caring about wealth preservation than philanthropic impact, according to UBS's survey. A similar percentage of first-generation billionaires listed wealth preservation as a main goal, but a higher proportion (68%) also chose philanthropy.
Persons: —, It's, IPOs Organizations: UBS, Service, Forbes Locations: Swiss
☆ Here’s how Taylor Swift, consumer spending and this puzzling labor market fit together
  + stars: | 2023-10-31 | by ( Karen Firestone | ) www.cnbc.com   time to read: +5 min
On several occasions, I would walk into Macy's and buy a tube of lipstick, which was something I found comforting. Considering that every lipstick I own, which is not a small number, is basically the same color, I also found that strange. For instance, rather than purchasing a new $400 dress, they might choose to buy a $35 tube of Lancôme lipstick. Let's look at the top-grossing concert tours in the U.S. this year. Taylor Swift, Beyoncé, and Ed Sheeran have collectively sold $1.48 billion in ticket sales through August 2023, or $2.22 billion on an annualized basis, according to estimates from Forbes .
Persons: Taylor Swift, Ed Sheeran, Elton John, Jessica Reif Ehrlich, Karen Firestone Organizations: Forbes, Bank of America, U.S . Census, National Association of Realtors, Asset Management Locations: Boston, U.S, Pollster
☆ A judge gave permission for Sam Bankman-Fried's lawyers to give him suits, ties, and 'appropriate undergarments' to wear at his trial
  + stars: | 2023-09-28 | by ( Pete Syme | ) www.businessinsider.com   time to read: +3 min
A judge approved a request for Sam Bankman-Fried to wear business attire in court. Judges often allow jailed inmates to wear suits to avoid possible juror bias if they wore prison uniform. AdvertisementAdvertisementThe judge overseeing the trial of Sam Bankman-Fried approved a request on Wednesday for the FTX founder to wear business attire in court. Now behind bars at the Metropolitan Detention Center, his lawyers submitted a proposed order on Tuesday which asked Kaplan to allow Bankman-Fried to wear "business attire clothing." Judges often let jailed inmates wear business attire in court, because wearing a prison uniform could prejudice the jury.
Persons: Sam Bankman, —, Fried, Lewis Kaplan, Bankman, Kaplan, Fatih Aktas, YUKI IWAMURA, Tony Blair, Bill Clinton, Blair, Anthony Scaramucci, Scaramucci Organizations: Service, Metropolitan Detention Center, US Marshals Service, MDC, Anadolu Agency, Getty, British, Forbes, SkyBridge Locations: Bahamas, Manhattan, AFP, Rome
☆ OnlyFans' reclusive owner made $338 million last year as the adult site's popularity surges
  + stars: | 2023-08-26 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +2 min
The owner of OnlyFans, Leo Radvinsky, made $338 million from the subscription site last year. The parent company's annual report also shows OnlyFans' creator and user base rose in 2022. AdvertisementAdvertisementThe owner of OnlyFans was paid $338 million in 2022 as the subscription site continued to gain traction with both creators and users. His personal website shows he has a venture capital firm that offers company founders investments up to $1 million. OnlyFans was founded in the UK in 2016 by Tim Stokely before he sold the company Radvinsky two years later.
Persons: OnlyFans, Leo Radvinsky, Radvinsky, He's, Tim Stokely Organizations: Fenix International, Forbes Locations: OnlyFans, webcams
☆ The story behind Uline, the packaging powerhouse whose reclusive billionaire owners use their fortune to influence American politics
  + stars: | 2023-08-18 | by ( ) www.businessinsider.com   time to read: +7 min
Every company has to start somewhere, and for Uline, that beginning was 1980 in the Illinois basement of Dick and Liz Uihlein. Dick Uihlein started Uline to sell a product called a carton sizer, "one of the neatest little tools I'd ever seen." Bit by bit, the Uihleins added more packing supplies to their selection and slashed delivery times to the minimum — a decade before Jeff Bezos launched Amazon. "It's weird to develop a love of corrugated boxes and shipping supplies, but I really enjoy it," Liz told the Milwaukee BizTimes in 2020. The Uihlein family as featured on the Uline website.
Persons: Uline, Liz, Dick Uihlein, Donald Trump, there's, Forbes, Uline wasn't, Dick, Liz Uihlein, Schlitz beer's, Jeff Bezos, Scott Walker, Ron Johnson, Elizabeth Uihlein, Jacob Peters, Paul Morigi, Ron DeSantis, ProPublica, it's, Ronald Reagan Organizations: Service, Stanford, National, Milwaukee BizTimes, White House, Politico, isn't, ProPublica Locations: North America, Wall, Silicon, Illinois, Chicago, Pleasant Prairie , Wisconsin, Wisconsin, Florida, Ohio
☆ One of the world’s richest self-made men started as a motel janitor—now he has a net worth of $1.2 billion
  + stars: | 2023-07-18 | by ( Megan Sauer | ) www.cnbc.com   time to read: +4 min
He now has a net worth of $1.2 billion, which comes from owning nearly a third of Yanolja with his wife and two daughters, according to Forbes . Yanolja founder and chairman Lee Su-jin started his lucrative career in the travel industry as a motel janitor. He saved his money, invested in stocks and even started a salad business, according to Bloomberg. So he decided to rebrand love hotels. "If all the motels relied on love, they'd starve to death," Lee told Bloomberg.
Persons: Lee, Lee Su, Yanolja, Kim Jong, yoon, Kim, SoftBank Organizations: Forbes, Bloomberg, CNBC, SoftBank Vision, Reuters Locations: Korea, Yanolja
☆ Here's an A.I. pure play that could get bought by a megacap tech, says investor Paul Meeks
  + stars: | 2023-07-12 | by ( Yun Li | ) www.cnbc.com   time to read: +1 min
Longtime tech investor Paul Meeks said artificial intelligence pure play C3.ai could be a potential winner as the firm might be a acquisition target for megacap tech companies. "One pure play AI company, C3.ai, probably at some point successfully sells itself to one of the mega tech cap companies," Meeks said on CNBC Pro Talks Wednesday. Siebel sold his prior software company, Siebel Systems, to Oracle for nearly $6 billion in 2006. Three years later, he started C3.ai , a provider of AI solutions to businesses. C3.ai uses AI to predict a host of issues ranging from fraud detection to helping companies optimize their operations.
Persons: Paul Meeks, Meeks, Tom Siebel's, Siebel, Tom Siebel, it's, Baker Hughes Organizations: CNBC Pro, Independent Solutions Wealth Management, Siebel Systems, Oracle, Forbes, U.S . Department of Defense, Shell
☆ For YouTuber multi-millionaires Rhett & Link, venture capital is the future of creators
  + stars: | 2023-05-20 | by ( Zach Vallese | ) www.cnbc.com   time to read: +6 min
The pair chose to reinvest their earnings, and lessons from their experiences, in burgeoning creators through an accelerator fund. "The right creators are good and investments," said McLaughlin, who is co-CEO of Mythical Entertainment. They both have a vision to grow their business and to lead their business," McLaughlin said. VC firm Slow Ventures has also launched a creator fund and has taken a keen interest in the business of those in the creator economy. Providing creators like Mogilko with capital gives them the ability to grow quickly at a time when they can leverage their existing social media virality.
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