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Amazon founder Jeff Bezos sold more than a million shares last week, per an SEC filing. Some of the money will be used to fund the billionaire's chain of nonprofit preschools. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJeff Bezos sold around 1.1 million Amazon shares last week — and used the money raised to fund his "Montessori-inspired" nonprofit preschools, SEC filings show. The world's third-richest man sold 431,426 shares on May 29 and 667,260 shares on May 30, with the $117 million raised from the second of those sales going to Day 1 Academies, a chain founded by Bezos.
Persons: Jeff Bezos, , Bezos Organizations: SEC, Service, Business
JPMorgan just published its 25th annual summer reading list. The bank suggests 11 titles it believes capture a world experiencing "radical shifts." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . JPMorgan Asset and Wealth Management's chief communications officer Darin Oduyoye touted the bank's picks as an attempt to capture a world experiencing "radical shifts." This story is available exclusively to Business Insider subscribers.
Persons: Matt Damon, , Darin Oduyoye Organizations: JPMorgan, Service, Wealth, Business
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAn ultra-luxe "Billionaire's Row" residential tower has been mired in a lengthy legal dispute, and some owners are now fleeing the building, according to a report in The Wall Street Journal. The condominium board at 432 Park Avenue in midtown Manhattan — once the tallest residential building in the Western Hemisphere — first sued the building's developers in 2021. In the three years since the initial lawsuit, the battle has intensified, with more than 4 million pages of documents filed in court, according to The Wall Street Journal. AdvertisementEighteen units in 432 Park, totaling 14% of the building's units, were listed for sale as of mid-May, the Wall Street Journal analysis found, citing data from StreetEasy.
Persons: Organizations: Service, Street, Hemisphere, Business, Wall Street, Wall Locations: midtown Manhattan —, New York City, StreetEasy
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAn ultra-luxe "Billionaire's Row" residential tower has been mired in a lengthy legal dispute, and some owners are now looking to sell building, according to a report in The Wall Street Journal. The condominium board at 432 Park Avenue in midtown Manhattan — once the tallest residential building in the Western Hemisphere — first sued the building's developers in 2021. In the three years since the initial lawsuit, the battle has intensified, with more than 4 million pages of documents filed in court, according to The Wall Street Journal. Eighteen units in 432 Park, totaling 14% of the building's units, were listed for sale as of mid-May, the Wall Street Journal analysis found, citing data from StreetEasy.
Persons: Organizations: Service, Street, Hemisphere, Business, Wall Street, Wall, WSJ Locations: midtown Manhattan —, New York City, StreetEasy
Advertisement"Desperate times call for desperate measures," Musk told CNBC's David Faber in May 2023. On top of Tesla and X, Musk also runs SpaceX, Neuralink, AI startup xAI, and an underground tunnel company. AdvertisementAt Tesla, Musk told his employees that he would personally approve all new hires, according to an email obtained by Business Insider. Musk is also known to have fired employees who disagreed with his decisions. AdvertisementOther former Twitter employees and executives have sued Musk, accusing him of unpaid severance pay.
Persons: , Elon Musk, Tesla, Musk, CNBC's David Faber, Lex Fridman, Walter Isaacson, Musk's, Alec Levenson, " Levenson, Spencer Platt, that's, Weeks, Kali Hays, Levenson Organizations: Service, EV, Bloomberg, Twitter, Business, SpaceX, University of Southern California Marshall Center, Getty, New York Times, National Labor Relations, BI, NLRB, Musk's SpaceX, Twitter's Locations: York
Ali and Amira Sajwani want to revive Dubai's failed World Islands project. They're planning to build 24 mansions, a beach club, and two helipads. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe children of a billionaire Dubai property developer have come up with a plan to revive the emirate's abandoned "World Islands." Ali and Amira Sajwani have teamed up to launch Amali Island, a property development that aims to revive the troubled project by building 24 mansions, a beach club, and twin helipads.
Persons: Ali, Amira Sajwani, Dubai's, Hussain Sajwani, who's, Donald Trump, , Ali Sajwani Organizations: Service, Bloomberg, Business Locations: Dubai
The Monaco Grand Prix is the crown jewel of Formula 1, known for its glitz and glamour. In the decades since then, the Monaco Grand Prix has become the crown jewel of Formula 1 — and arguably the most famous race in the world. Senna's surprising defenseThat crash was a distant memory by 1992, as Senna unexpectedly claimed his fifth Monaco Grand Prix victory. While he didn't gain any victories during his Mercedes stint, he earned a pole position at his final Monaco Grand Prix at 43. Daniel Ricciardo celebrating his Monaco Grand Prix win in 2018.
Persons: , it's, Bob Varsha, Varsha, Clive Rose, Zak Brown, McLaren, Lando Norris, It's, Juan Manuel Fangio, Alfa, Yves, Giraud Cabantous, Maurice Trintignant, Robert Manzon, Giuseppe Farina, Jackie Stewart, Stewart, Jackie, Ayrton Senna, Senna, Ayrton Senna's, Nigel Mansell, Brown, Mansell, Michael Schumacher's, Mercedes, Mark Webber, Schumacher, Daniel Ricciardo, Lewis Hamilton, Ricciardo, Dan Istitene, Charles Leclerc —, he's, Leclerc Organizations: Monaco, Service, Prix, ESPN, Miami Grand Prix, Indianapolis, Le, Alfa Romeo, Formula, Getty, Universal Pictures, Williams, Renault, Mercedes F1, Netflix, Monaco Grand Prix, Monaco —, Ferrari Locations: Monte Carlo, Monaco, Argentine, British
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewElon Musk's social media posts have a history of getting him into trouble — and Tesla's chair has admitted they sometimes catch her off guard, too. Robyn Denholm, the chair of Tesla's board, admitted to the Financial Times that she has had "tough conversations" with CEO Elon Musk over his social media posts and said that if she had her way, Twitter, now X, wouldn't exist. Denholm became Tesla's chair in 2018 after Musk stepped down following a settlement with the SEC over the billionaire's infamous "funding secured" tweet. AdvertisementTesla did not immediately respond to a request for comment made outside normal working hours.
Persons: , Robyn Denholm, Elon Musk, Denholm, Musk, you've, Tesla Organizations: Service, Elon, Financial Times, Twitter, Business, SEC, Wall Street Journal Locations: Delaware, Sydney
Palmer Luckey's startup Anduril is producing futuristic weapons of war. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe defense tech startup Anduril is making some of the most futuristic autonomous weapons on the market as it tries to reinvent the military's wheelhouse. But the company's forward-thinking vision hasn't stopped founder Palmer Luckey from amassing his own collection of older military-grade vehicles and boy's toys.
Persons: Palmer, James Bond, Luckey, , hasn't, Palmer Luckey Organizations: Bloomberg, Service, US Navy, Marine Corps, Business
The Japanese billionaire's conglomerate posted a $1.5 billion profit for its latest quarter. The gains come off the back of its big bet on chip firm ARM, which is targeting AI opportunities. Arm Holdings CEO Rene Haas is seeking to capitalize on the AI boom. But as the appetite for ARM's AI activities show, SoftBank has room to grow in the face of the latest boom. If he's able to find the right bets, AI could pay off handsomely in the long term.
Persons: Masayoshi, , It's, SoftBank, Rene Haas, Michael M, Yoshimitsu Goto, Son, WeWork, AI's Organizations: ARM, Service, Son, Nasdaq, Apple, Arm, Funds, Nvidia Locations: Tokyo, Cambridge, London, Alibaba
Jack Dorsey said Twitter's board — and its activist investor — prompted him to plan an exit from the firm. "I was happy to see it end," Dorsey said of the board when Elon Musk took Twitter private. AdvertisementDorsey told Solana that earlier on, he'd tried to bring Musk onto Twitter's board but was stopped twice. In April 2022, Musk joined Twitter's board of directors after taking a 9.2% stake in the company. But Dorsey said he was also unhappy with the board because of an activist investor seeking to boot him, he said.
Persons: Jack Dorsey, , Dorsey, Elon Musk, Mike Solana, Parag Agrawal, Solana, he'd, Musk, Paul Singer, Elliot Management's, It's, Dorsey didn't, Bluesky, Donald Trump, Nick Fuentes Organizations: Elon, Twitter, Service, Fund, Elliott Management
But Dorsey said Twitter had been weighed down by its revenue model. Twitter chose brand advertising as its main source of income, a "core, critical sin" that exposed the platform's moderation to the whims of corporations effectively financing the social-media platform, Dorsey said. Building a different business modelTo many, Musk seemed to be axing Twitter's entire business model. "Twitter was a $5 billion a year business," Dorsey said. AdvertisementDorsey's comments come as he quit Bluesky, a platform he helped build after leaving Twitter, and told users to use Musk's X instead.
Persons: , Jack Dorsey, Dorsey, Mike Solana, Twitter, Solana, Apple, Musk, Elon, Bluesky, Edward Snowden, Julian Assange, he's, Musk's Organizations: Service, Twitter, Fund, Business, Unilever, SpaceX, Disney, IBM
As recently as April 2022, the billionaire Tesla founder claimed in an interview that he was couch surfing and didn't "even own a place right now." In redacted court filings from December, Musk said he purchased the home in February 2022 and that he still lives there. In 2023, the Austin property was appraised at nearly $7 million, county tax records show. Less than a year later, in April 2022, Musk said again that he didn't own a home and rotated between friends' spare rooms. Eight weeks later, the LLC that purchased the Austin house was formed.
Persons: , Elon, Tesla, Grimes, Musk, Stefan Cassella, I'd, he'd, they'd, I'm, Austin, Ken Howery, Walter Isaacson, Tesla's Austin Gigafactory Organizations: Service, Business, Texas, State, Department of Justice, SpaceX, Street Journal, PayPal, Austin, Montessori Locations: Austin, Texas, California, San Francisco, Colorado, Bastrop , Texas, Tesla's
Democrats are pressuring Warren Buffett to reopen his wallet for political donations. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe pressure is on for Warren Buffett to reengage in political donations — something he's avoided for the last five years. Democrats are counting on the billionaire's political generosity to clinch key races in the 2024 election, Bloomberg reported. This story is available exclusively to Business Insider subscribers.
Persons: Warren Buffett, , he's, Jane Kleep Organizations: Biden, Service, Bloomberg, State Democratic Party, Business Locations: Omaha, Nebraska
Elon Musk has gained $36 billion in net worth over the last week, per Bloomberg. Musk is reaping the benefits after Tesla shares surged following his successful trip to China. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk is $36 billion richer following his recent trip to China. Three years later, he's now behind LVMH boss Bernard Arnault and Amazon founder Jeff Bezos, with a current estimated net worth of $202 billion.
Persons: Elon Musk, , Elon, Musk, Dan Ives, he's, Bernard Arnault, Jeff Bezos, Tesla Organizations: Bloomberg, Service, Tesla, SpaceX, Amazon Locations: China, China . China
He's referring to selling record label Virgin Records to Thorn EMI for nearly $1 billion in 1992. Branson needed the money to focus on a newer venture, Virgin Atlantic. CNBC Make It: How did you make the decision to sell Virgin Records? What I decided was: If I sold Virgin Records, all the people's jobs would be secure. I could then use that money to build and protect Virgin Atlantic.
Persons: Richard Branson, He's, , Branson, Richard, Virgin, We'd, Janet Jackson Organizations: CNBC, Virgin Records, Thorn EMI, Virgin Atlantic, British Airways, Virgin Group, Forbes, Virgin Locations: London, Branson
Elon Musk visits China to expedite Tesla's full self-driving tech rollout, say reports. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla CEO Elon Musk touched down in China on Sunday in the tech billionaire's second trip in less than a year to the world's biggest market for electric vehicles. Musk is expected to meet with senior officials to discuss the software and gain permission to transfer data overseas, the person said.
Persons: Elon Musk, Organizations: Service, Reuters, Business Locations: China
This story is available exclusively to Business Insider subscribers. AdvertisementA representative for Sternlicht told Business Insider the house was to be demolished but did not provide further comment. The tony island of Nantucket is a favorite among billionaires like former Google CEO Eric Schmidt and Blackstone leader Steve Schwarzman. "Erosion takes out houses, roads, infrastructure, sewer beds, even airport runways," he told Business Insider. Despite the island's propensity for natural destruction, the town has strict rules regarding what structures owners can take down.
Persons: Barry, Sternlicht, Forbes, Shelly Lockwood, tony, Eric Schmidt, Steve Schwarzman, James Pallota, Pallota, Lockwood, Brendan Maddigan, Steven Cohen, Cohen Organizations: Service, Billionaire, Business, Sternlicht, Nantucket Current, Blackstone, Celtics, Boston Globe Locations: Nantucket
A Harvard Business School professor was asked to break down Jeff Bezos' leadership style on a recent podcast. But good leadership also requires empathy, an area where Bezos is seemingly lacking, Gupta said. His inventiveness, fearlessness, and focus have all played a key role in Amazon's growth, said Sunil Gupta, a Harvard Business School professor who has studied Bezos for years. Gupta broke down how Bezos's character has helped Amazon grow on a recent episode of Harvard Business Review's "On Strategy" podcast. Amazon workers rally in support of unionization efforts, March 2021.
Persons: Jeff Bezos, Sunil Gupta, Gupta, , he's, He's, FREDERIC J . BROWN, Bezos Organizations: Harvard Business School, Service, Harvard Business, Harvard, Nomad Ventures, Inc, Getty, Amazon, Washington Post, Gallup
Tree Paine has been Taylor Swift's power publicist for a decade. To that end, Swift's publicist of a decade, Tree Paine, is one of the most critical figures in her orbit. Advertisement'The devil works hard, but Tree Paine works harder'Paine is private on Instagram but active on X, where users regularly rhapsodize about her apparent machinations behind the scenes — whether or not she's actually involved. "The devil works hard," the user wrote, "but tree paine works harder." "Tree Paine undefeated," he joked.
Persons: Tree Paine, Taylor, she's, , Taylor Swift, — Paine, Paine, Trina Snyder, Swift, Paula Erickson, Erickson, Lance Paine —, Donald Trump, Paine clapped, Kim Kardashian, Kanye West, Joe Alwyn, Paine fumed, Paine's, paine, David Ehrlich Organizations: Service, Department, Wall Street, University of Southern, Warner Music Nashville, Warner, Premium, Scott Brothers Global, Netflix Locations: Costa Mesa , California, University of Southern California, Los Angeles, Swift's, Deuxmoi
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Zuckerberg wore a navy blue t-shirt and chain necklace while announcing his company's latest AI products on Thursday. At the UFC event, Chan leaned into the "mob wife" aesthetic, pairing her all-black outfit with a gold necklace. Apart from getting super fit, Bezos also makes plenty of bold fashion choices with his fiancé, Lauren Sánchez. The couple turned heads when they sported the "mob chic" look at the Dolce & Gabbana Party at the Milan Fashion Week in January.
Persons: Mark Zuckerberg, , Zuckerberg, swag, 3BU0z0n9dr, Armand Domalewski, Priscilla Chan, Chan, Jeff Bezos, Bezos, Lauren Sánchez, Jensen Huang Organizations: UFC, Service, Dolce, Gabbana Party, Milan, titans, Meta, Business Insider Locations: Jersey
Kam Ghaffarian, co-founder and chairman of Axiom Space Inc., speaks during an interview at the company's headquarters in Houston, Texas, U.S., on Friday, Jan. 14, 2022. IBX's Kam Ghaffarian wants to go even further: the stars. Ghaffarian has been instrumental in ushering in the new space economy, having co-founded and invested in a cadre of commercial space ventures. Unlike other high-profile billionaires building commercial space companies, Ghaffarian made his fortune through the space industry, and rather than focusing on access to space, he's leveraging those falling costs to build out infrastructure and business activities in space. Ghaffarian believes the space economy will be worth trillions of dollars — and sooner than many realize.
Persons: Kam Ghaffarian, Jeff Bezos, Richard Branson, Elon Musk, IBX's Kam Ghaffarian, CNBC's Morgan Brennan, Ghaffarian, Odysseus, he's, We've, Jeff, Bezos, we've, Morgan Brennan, it's Organizations: Space, International, Elon, Technologies, NASA, KBR, SpaceX Locations: Houston , Texas, U.S, Colorado Springs, Iran
Nicola Peltz Beckham wrote, directed, and stars in the indie film "Lola" about a teen living in poverty. Peltz Beckham is the daughter of billionaire Nelson Peltz and is married to Brooklyn Beckham. AdvertisementNicola Peltz Beckham's directorial debut about a teen struggling to make ends meet in middle America is getting lambasted by critics. "Lola," released in limited theaters on February 9, is written and directed by Peltz Beckham, who plays the titular character. This story is available exclusively to Business Insider subscribers.
Persons: Nicola Peltz Beckham, Peltz Beckham, Nelson Peltz, Brooklyn Beckham, , Nicola Peltz Beckham's, Lola, Lola James, Arlo, Luke David Blumm Organizations: Service, Business Locations: America
The prestigious golf tournament, which is the first major event on the PGA Tour, is held in Augusta, Georgia, at the Augusta National Golf Club. "There's a huge amount of very exclusive clubs all over the world. Advertisement"I think that there's two different ways to look at why a club is exclusive and one of them is the quality of the golf course. Sometimes, the golf course has so much history behind it that the club becomes extremely exclusive by default because of the importance of the golf course," said Carrega. So, in case you never have the opportunity to befriend Tiger Woods or win the lottery, here's a peek at 10 of the most exclusive golf clubs in the world.
Persons: , Phil Knight, Bill Gates, Barnabas Carrega, Tiger Woods Organizations: Service, PGA, Augusta National Golf, Business, Nike Locations: Augusta , Georgia, Augusta
In today's big story, we're doing a deep dive into the golf tournament at one of the most exclusive clubs in the world . Mike Ehrmann/Getty ImagesHarvard University alumni, Goldman Sachs partners, Birkin bag owners — those exclusive groups are nothing compared to an Augusta National Golf Course membership. The Masters Tournament, the first of four men's major golf tournaments, kicks off today , write Business Insider's Madeline Berg and Taylor Rains. Since it's almost impossible to check out Augusta National otherwise, the Masters has become a staple of the billionaire's social calendar. Augusta National runs a lottery system for them.
Persons: , Mike Ehrmann, Goldman Sachs, Birkin, Madeline Berg, Taylor, it's, Cork Gaines, aren't, Joe Ciolli, didn't, Chelsea Jia Feng, Bill Smead, Brad Porter, Elon Musk's, Y, Paul Graham, Alyssa Powell, Larry Ellison, David Ellison, Larry Ellison's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Getty Images Harvard University, Augusta, Waste, bros, Augusta National, Renaissance Technologies, Sigma, Robotics, Amazon Robotics, xAI, Paramount, Oracle, Google, JPMorgan, SpaceX Locations: Augusta, swag, Chelsea, D.E, Shaw's Valence, New York, London
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