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☆ Mark Cuban says billionaires show why America is special — and it's patriotic to get obscenely rich then pay big taxes
  + stars: | 2024-09-18 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Mark Cuban said billionaires are a product of the American Dream and what makes the US special. The "Shark Tank" star said it's patriotic to get "filthy, stinkin' rich" then pay large taxes. Building wealth often creates jobs while taxes fund key public services, Cuban said. AdvertisementMark Cuban says billionaires are a product of boundless opportunity — and people should take pride in creating wealth as the money flows back into society. That's what makes America special," the "Shark Tank" star said.
Persons: Mark Cuban, —, Bill Gates Organizations: Service, Netflix, Business Locations: Cuban
☆ Lebanon: Exploding pagers targeting Hezbollah members injure hundreds, Lebanese security source says
  + stars: | 2024-09-17 | by ( Lauren Kent | Cnn S Charbel Mallo | Tamara Qiblawi | ) edition.cnn.com   time to read: +2 min
CNN —Hundreds of people were injured Tuesday in an attack targeting the pagers of Hezbollah members, a Lebanese security source told CNN, with state media reporting that dozens of members of the militant group were wounded. Iran’s Ambassador to Lebanon, Mojtaba Amani, was among those injured in Beirut, according to semi-official Iranian media outlet Mehr News. Iran's ambassador to Lebanon Mojtaba Amani, pictured in July, was among those injured, according to semi-official Iranian media outlet Mehr News. Mohamed Azakir/ReutersVideos circulating on social media and news agencies show explosions in various locations that appear to be powerful. Social media video from inside a Lebanese hospital meanwhile showed large numbers of injured people, including at least one child.
Persons: Mojtaba Amani, NNA, “, Ali Al, Mohamed Azakir, … Organizations: CNN, Mehr, Lebanon’s Ministry of Health, Internal Security Forces, Health, Lebanese Ministry of Health Locations: Lebanon, Beirut, Ali, Lebanon’s, Gaza
☆ What we know about Lebanon’s pager explosions
  + stars: | 2024-09-17 | by ( Tara John | Tamara Qiblawi | Oren Liebermann | ) edition.cnn.com   time to read: +10 min
The Iran-backed militant group said the wireless devices began to explode around 3:30 p.m. local time in a targeted Israeli attack on Hezbollah operatives. Experts say the explosions, unprecedented in their scale and nature, underscore Hezbollah’s vulnerability as its communication network was compromised to deadly effect. CNN could not geolocate the image, but has verified it was published Tuesday, the same day as the explosions. Hostilities are at an all-time high between Israel and Hezbollah following Hamas’ October 7 attack on Israel. US Secretary of Defense Lloyd Austin spoke twice with his Israeli counterpart, Israeli Defense Minister Yoav Gallant, according to two US defense officials.
Persons: Israel, ”, Hassan Nasrallah, “, Avi Melamed, ” Melamed, David Kennedy, I’ve, John Miller, Amos Yadlin, Nasrallah, Yahya, ” Yadlin, Kim Ghattas, Ahmad Kaddoura, Miller, Ismail Haniyeh, Mohamed Azakir, ’, Defense Lloyd Austin, Yoav Gallant Organizations: CNN, Hamas, Middle, GPS, New York Times, Times, US National Security Agency, Intelligence, Getty, American University of, American University of Beirut Medical Center, Reuters, Global, Defense, Israeli Locations: Lebanon, Iran, Gaza, East, Israel, Lebanese, Israeli, Sidon, Anadolu, United States, Iranian, Tehran, American University of Beirut
☆ Oracle's Larry Ellison is now the world's 4th-richest person after a $57 billion wealth surge this year
  + stars: | 2024-09-17 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Larry Ellison surged past LVMH chief Bernard Arnault to become the world's fourth-richest person. Oracle's cofounder is worth $181 billion after gaining nearly $58 billion this year, per Bloomberg. Go to newsletter preferences Thanks for signing up! AdvertisementLarry Ellison has overtaken Bernard Arnault to become the world's fourth-richest person with a $181 billion fortune. His net worth has soared by $57.8 billion since then, making him the third-biggest wealth gainer after Meta CEO Mark Zuckerberg, up $61.4 billion, and Nvidia CEO Jensen Huang, up $58.5 billion.
Persons: Larry Ellison, Bernard Arnault, —, leapfrogged, Ellison, Mark Zuckerberg, Jensen Huang Organizations: Bloomberg, Service, Nvidia, Business
☆ The fabulous life of Michael Dell, the $108 billion tech icon betting big on AI
  + stars: | 2024-09-17 | by ( Julie Bort | Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Michael Dell is one of the world's wealthiest people, with a net worth of more than $100 billion. The Dell Technologies founder made his fortune by democratizing the PC and striking shrewd deals. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! AdvertisementMichael Dell, the tech entrepreneur who helped bring the personal computer to the masses, ranks among the world's wealthiest people with a net worth of $108 billion, per the Bloomberg Billionaires Index.
Persons: Michael Dell, —, Dell Organizations: Dell Technologies, Service, Bloomberg, Fortune, Business
☆ 'Shark Tank' star Kevin O'Leary says get married sooner, have more kids — and forget about the costs
  + stars: | 2024-09-16 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Kevin O'Leary says people should get married sooner and have more children. The "Shark Tank" star wishes he had kids a decade earlier so he could have been a young parent. Go to newsletter preferences Thanks for signing up! "I wish I'd had my kids 10 years earlier," the "Shark Tank" star said in a Fox Business clip shared on his social media over the weekend. And I love my kids but, boy, I wish I had more time with them at a younger age," he added.
Persons: Kevin O'Leary, O'Leary, —, I'd Organizations: Service, Fox
☆ Meet the 10 biggest wealth gainers this year — who've added a combined $360 billion to their fortunes in 2024
  + stars: | 2024-09-14 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
The 10 biggest wealth gainers have added a collective $360 billion in net worth so far in 2024. Nvidia's Jensen Huang, Meta's Mark Zuckerberg, and Oracle's Larry Ellison are up over $50 billion. Go to newsletter preferences Thanks for signing up! AdvertisementTen people have grown their personal fortunes by a combined $360 billion this year — a sum larger than the market value of Coca-Cola ($307 billion), Bank of America ($301 billion), or Netflix ($295 billion). This year's biggest wealth gainers include Nvidia CEO Jensen Huang, Meta CEO Mark Zuckerberg, and Oracle chairman Larry Ellison.
Persons: Nvidia's Jensen Huang, Meta's Mark Zuckerberg, Larry Ellison, Jeff Bezos, Warren Buffett, —, Jensen Huang, Mark Zuckerberg Organizations: Walmart, Service, Bank of America, Netflix, Nvidia, Business
☆ 'Shark Tank' star Kevin O'Leary warns couples not to combine finances: 'I don't care how in love you are'
  + stars: | 2024-09-13 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Kevin O'Leary says couples shouldn't combine their finances. Maintaining a financial identity is vital in case of break up or death, the "Shark Tank" star says. Go to newsletter preferences Thanks for signing up! But if they break up, joint accounts can be a knotty mess to untangle and might leave them high and dry in the credit-driven US economy, Kevin O'Leary says. "What I tell everybody to do in a relationship is have your own account, your own credit card, never merge your finances together," the "Shark Tank" star said in a Fox News clip posted to his Instagram on Wednesday.
Persons: Kevin O'Leary, O'Leary, —, they're Organizations: Service, Fox, Business
☆ Boeing workers are set to strike — and it could cost the company billions
  + stars: | 2024-09-13 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
The walkout depressed revenues in the period by $4.3 billion, Boeing said at the time. Another strike of that length would cost Boeing at least $3 billion, according to a TD Cowen research note cited by The New York Times. The rejected deal would have cost Boeing an extra $900 million a year if passed, they noted. A Boeing strike in 1989 cost the company $2.5 billion in lost revenue, and the next one in 2005 cost it about $1 billion, the American Action Forum noted in a paper this week. "This may be because Boeing generally delays orders rather than losing them, so their revenue is time-shifted rather than diminished."
Persons: —, Cowen, Kelly Ortberg, they're Organizations: Service, Boeing, International Association of Machinists, Aerospace Workers, IAM, Business, The New York Times, Jefferies, CNBC, American Action, AAF
☆ Jensen Huang is $60 billion richer this year thanks to Nvidia's soaring stock — and just rejoined the $100 billion club
  + stars: | 2024-09-13 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Jensen Huang has grown about $14 billion richer in four days thanks to Nvidia's soaring stock. He's rejoined the $100 billion club after an unmatched $60.5 billion rise in his wealth this year. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .
Persons: Jensen Huang, He's, Mark Zuckerberg, Larry Ellison, —, Jensen Organizations: Service, Nvidia, Bloomberg, Business
☆ Meet the 15 members of the $100 billion club — who are jointly worth more than Amazon or Google
  + stars: | 2024-09-12 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
The elite group worth more than $100 billion includes Elon Musk, Jeff Bezos, and Bill Gates. The 15 members have grown about $280 billion richer this year and are jointly worth $2.2 trillion. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk, Jeff Bezos, and Mark Zuckerberg are among the handful of people on the planet with a net worth above $100 billion.
Persons: Elon Musk, Jeff Bezos, Bill Gates, Jim Walton, —, Mark Zuckerberg, Warren Buffett Organizations: Elon, Walmart, Service, Business
☆ Mark Zuckerberg could become the richest person on the planet after a $51 billion wealth surge this year
  + stars: | 2024-09-11 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Mark Zuckerberg could become the world's wealthiest person after surging up the rich list. The Meta CEO has gained $51 billion this year and recently ranked third in net worth. Go to newsletter preferences Thanks for signing up! AdvertisementMark Zuckerberg has rocketed up the ranks of the world's richest people — and could take the top spot for the first time. Zuckerberg sits in fourth place at the time of writing, behind Tesla's Elon Musk (worth $248 billion), Amazon's Jeff Bezos (worth $202 billion), and LVMH's Bernard Arnault (worth $180 billion).
Persons: Zuckerberg, Jeff Bezos, —, Mark Zuckerberg, Tesla's Elon Musk, LVMH's Bernard Arnault Organizations: Elon, Service, Meta, Facebook, Bloomberg, Business
☆ Bill Gates and other billionaires can learn from MacKenzie Scott's giving, a philanthropy expert says
  + stars: | 2024-09-11 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +6 min
Read previewFrom Bill Gates and Warren Buffett to Jeff Bezos and Mark Zuckerberg, billionaires are the power players of philanthropy. It's not possible to generalize, but billionaires' philanthropic contributions likely do not outweigh the negative aspects of wealth inequality. For every Chuck Feeney or 'good' billionaire, there is an Elon Musk or Bill Gates, both with questionable practices. Bill Gates is an example. How does MacKenzie Scott's philanthropy differ from how other billionaires typically approach giving, and what lessons can they learn from her?
Persons: —, Bill Gates, Warren Buffett, Jeff Bezos, Mark Zuckerberg, It's, MacKenzie Scott, Bezos, Hans Peter Schmitz, Bob, Carol Mattocks, Gates, Scott, Chuck Feeney, Elon Musk, Melinda Gates, Ramin Talaie, Getty, MacKenzie Organizations: Service, Business, Nonprofit Leadership, North Carolina State University, Melinda Gates Foundation, Gates Foundation, Black Colleges, Universities, Third
☆ 'Shark Tank' star Kevin O'Leary happily gives cash to help relatives — but they can never ask him again.
  + stars: | 2024-09-10 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Kevin O'Leary shared his approach to family members who ask him for cash. The "Shark Tank" investor gifts the money instead of lending it, and demands they never ask again. AdvertisementLending cash to family members can make things awkward, breed resentment, and even destroy relationships if they struggle to make payments or take the money and run. The "Shark Tank" star recently shared his personal policy in a video clip posted across his social media channels. Related storiesWhile family members should care for each other, "that doesn't extend to, 'Oh, I want to open a disco, I need $100,000,'" he noted.
Persons: Kevin O'Leary, O'Leary, —, you've, It's, it's, I've Organizations: Service
☆ Trump's tariffs would eat up time and money at even the smallest business, Mark Cuban says
  + stars: | 2024-09-10 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +5 min
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMark Cuban has warned that Trump's plan to impose sweeping tariffs on US imports would burden even tiny businesses with expensive, arduous compliance. Related storiesHe was critical of Trump's tariffs on China during his time in the White House and has slammed the Republican candidate's threat of more of the same. "Tariffs are the worst possible incentive for all but a few products," he said, adding that they "almost always" cost consumers more money. Tariff pain and small business woePaul Krugman has been vocally against plans for fresh tariffs if Trump wins in November.
Persons: —, Cuban, Elon Musk's, Grok, Trump, He's, Kamala Harris, Paul Krugman, what's, Kevin O'Leary Organizations: Service, Business, Cuban, Trump, Republican, Dallas Mavericks, Yahoo, White, Democratic, Getty Locations: Cuban, China, Wisconsin
☆ China bans 43 soccer players and officials for life for match-fixing
  + stars: | 2024-09-10 | by ( ) edition.cnn.com   time to read: +2 min
CNN —The Chinese Football Association has banned for life 38 soccer players and five club officials after a two-year investigation into match-fixing and gambling, as part of a crackdown on corruption in one of China’s most popular sports. Power Sport Images/Getty Images/FileJin Jingdao during the 2022 FIFA World Cup Qualifier match between Australia and China on September 2, 2021 in Doha, Qatar. CFA President Song Kai said 43 of the 44 had been banned for life from football-related activities, and 17 others received five-year bans. The findings were announced ahead of a World Cup qualifier in Dalian later on Tuesday where Team China will host Saudi Arabia after last week’s 7-0 loss away to Japan. A former chairman of the CFA was sentenced to life in prison in March.
Persons: Zhang Xiaopeng, Jin Jingdao, Guo Tianyu, Gu Chao, Son, Mohamed Farag, Zhang, Song Kai Organizations: CNN, Chinese Football Association, Ministry of Public Security, Xinhua News Agency, Administration of Sport, CFA, Visual China, Getty, FC, AFC, China, men’s Locations: Dalian, China, South, Administration of Sport of China, South Korea, Hungary, Australia, Doha, Qatar, Saudi Arabia, Japan
☆ $100 billion club shrinks to 12 members as slump in stocks knocks 3 people out
  + stars: | 2024-09-09 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
The $100 billion club lost three people last week as tumbling stocks dented their net worths. Only 12 members remain after Jensen Huang, Michael Dell, and Gautam Adani shed their elite status. Go to newsletter preferences Thanks for signing up! AdvertisementThe $100 billion club has lost three members in four days, shrinking the elite group of the world's superwealthy to just 12 people. Nvidia CEO Jensen Huang, personal-computing pioneer Michael Dell, and Indian industrialist Gautam Adani saw their net worths tumble below $100 billion last week, per the Bloomberg Billionaire Index.
Persons: Jensen Huang, Michael Dell, Gautam Adani, — Organizations: Service, Nvidia, Bloomberg, Labor, Business
☆ Warren Buffett has donated more than half his fortune to the Gates Foundation and 4 family foundations. Take a closer look.
  + stars: | 2024-09-07 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Warren Buffett has donated more than half his wealth to five foundations since 2006. He's gifted Berkshire Hathaway stock to the Gates Foundation and four of his family's foundations. Go to newsletter preferences Thanks for signing up! AdvertisementWarren Buffett has given more than half his vast fortune to five foundations since 2006. The 94-year-old investor is worth $145 billion thanks to a 15% stake in his Berkshire Hathaway conglomerate.
Persons: Warren Buffett, He's, Berkshire Hathaway, Here's, —, Susan, Buffett Organizations: Berkshire, Gates Foundation, Service, Berkshire Hathaway, Business Locations: Berkshire
☆ Alice Walton is the world's richest woman — and may soon be worth $100 billion
  + stars: | 2024-08-24 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Alice Walton has overtaken Françoise Bettencourt Meyers as the world's richest woman this year. The Walmart and L'Oréal heiresses are worth $95 billion and $90 billion respectively, per Bloomberg. Walton is close to passing the $100 billion mark and joining the elite club of centibillionaires. AdvertisementThe heiress to the Walmart fortune has leapfrogged the L'Oréal heiress to become the world's richest woman — and could soon cross $100 billion in net worth. Alice Walton, daughter of retail icon Sam Walton, is worth more than $95 billion for the first time, per the Bloomberg Billionaires Index.
Persons: Alice Walton, Françoise Bettencourt Meyers, Walton, —, Sam Walton Organizations: Walmart, L'Oréal, Bloomberg, Service, Business Locations: centibillionaires
☆ Economist Paul Krugman defends Harris' price-gouging plan — but 'Shark Tank' star Kevin O'Leary calls it a 'horror film'
  + stars: | 2024-08-23 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +5 min
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. What works is to flood the market with supply: lots of oil means lower oil prices, lots of labor means lower labor prices, lots of whatever means lower prices — it's a simple supply and demand curve. Obviously, this is a populist political gesture — a way to offer something to voters upset about high food prices. Krugman noted that many states including Texas have laws banning businesses from overcharging for essentials like food and fuel during disasters.
Persons: —, Kamala Harris, Harris, Lindsay Owens, Donald Trump, Mark Zandi, Kamala, Dave Ramsey, It's, cramp, Kevin O'Leary, there's, That's, There's, O'Leary, it's, Kamala Harris's, Gus Ruelas, Paul Krugman, I've, Richard Nixon, Nicolas Maduro, Krugman, Brian Cornell, Cornell Organizations: Service, Democratic, Business, Federal, CBS, Republican, York Post, Fox, Netflix, Fox News, Laureate, Princeton, New York Times, CNBC Locations: York, America, Cuba, Venezuela, North Korea, Soviet Union, Texas, overcharging
☆ An oil tycoon sold his company for $26 billion this year — but died before the deal closed
  + stars: | 2024-08-22 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Autry Stephens agreed to sell his company for $26 billion in cash and stock in February. The oil tycoon was set to become one of the world's 100 richest people, but he died this month. Go to newsletter preferences Thanks for signing up! AdvertisementAutry Stephens struck a deal in February that would have made him America's richest oilman and one of the world's 100 wealthiest people — but he died before it closed. The founder and owner of Endeavor Energy Resources agreed to sell the Texas oil producer to Diamondback Energy for $26 billion this spring.
Persons: Autry Stephens, Stephens, — Organizations: Service, Endeavor Energy Resources, Diamondback Energy, Wall, Business Locations: Texas
☆ The market is expecting too much from the Fed, says Allianz's Mohamed El-Erian
  + stars: | 2024-08-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is expecting too much from the Fed, says Allianz's Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor, joins 'Power Lunch' to discuss recession fears, Fed rate cuts and his market outlook.
Persons: Allianz's Mohamed El, Erian Mohamed El Organizations: Erian, Allianz
☆ Trump called inflation a disaster for consumers — and Musk blamed it on government waste
  + stars: | 2024-08-13 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
Donald Trump and Elon Musk called out the pain caused by high levels of inflation in recent years. Trump bemoaned that people can't afford groceries and savers have been "decimated" by rising prices. Musk blamed inflation on government overspending and pushed for deregulation to bring down costs. Go to newsletter preferences Thanks for signing up! AdvertisementDonald Trump and Elon Musk lamented the brutal impact of rising prices in their X Spaces conversation on Monday.
Persons: Donald Trump, Elon Musk, Trump, — Organizations: Service, Elon, Business
☆ Warren Buffett's company is so big it's like a mini US economy. Here's what it signals about the state of consumers.
  + stars: | 2024-08-13 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Read previewThe latest figures from Warren Buffett's Berkshire Hathaway suggest consumers are faring better than they were just a year or two ago. Thomson ReutersHomeServicesReal estate brokerage revenues were almost flat and after-tax earnings rose 21%. New home unit sales rose 11% after dropping 20%, but pre-tax earnings fell 10%, similar to their 12% decline last year. But pre-tax earnings jumped 10% due to higher margins and lower operating expenses that offset the lower sales. AdvertisementRetailThe odd one out was the retailing subdivision, where revenues fell 4.5% and pre-tax earnings fell 23%.
Persons: —, Warren Buffett's Berkshire Hathaway, Here's, Thomson, Warren Buffett, Clayton, Rick Wilking, Berkshire, They've, There's Organizations: Service, Business, Thomson Reuters, Clayton Homes, Reuters McLane, Berkhire Hathaway Locations: Warren Buffett's, Berkshire, Renton , Washington, Omaha , Nebraska
☆ Stock futures are little changed ahead of key inflation report on Wednesday: Live updates
  + stars: | 2024-08-13 | by ( Jesse Pound | ) www.cnbc.com   time to read: +1 min
Stock futures were mostly flat on Tuesday evening as Wall Street looks to keep a strong start to the week going with a key inflation report on deck. S&P 500 futures and Nasdaq 100 futures were also down less than 0.1%. The speed of the rebound is making some Wall Street pros uneasy. The market did get a piece of good news on Tuesday when the producer price index report showed cooler inflation than expected. "I think the inflation risk is much lower than the unemployment risk," El-Erian said.
Persons: Dow, I'm, Mohamed El, Erian Organizations: Dow Jones, Nasdaq, Allianz Locations: Japan
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