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Companies Guangzhou R&F Properties Co Ltd FollowLONDON, Dec 12 (Reuters) - The billionaire co-founder of Guangzhou R&F Properties Co Ltd (2777.HK) is wanted in the United States accused of paying kickbacks to obtain permits for a construction project in San Francisco, a court in London heard on Monday. The 69-year-old – who is worth $2.3 billion, according to Forbes magazine – offered to pay a security of 15 million pounds ($18.4 million). Mark Summers, representing Zhang, said 10 million pounds of the security would be provided by R&F. Zhang would provide the other 5 million pounds, Summers said. The judge also said Zhang must be handcuffed to a member of his court-appointed private security team when he left his house for the purposes of attending court.

[1/2] Leon Black is pictured here in Beverly Hills, California, U.S. May 1, 2018. Pierson's lawsuit in a New York state court in Manhattan seeks unspecified damages from Black for sexual assault and intentional infliction of emotional distress, and from Epstein's estate for negligence. Her law firm Wigdor LLP also represents Guzel Ganieva, a former Russian model who in June 2021 sued Black for defamation, saying he falsely claimed she tried to extort him after accusing him of rape. In a Nov. 19 letter to the Wigdor firm, Estrich said: "Mr. Black never sexually assaulted anyone anywhere at any time." His former associate Ghislaine Maxwell is appealing her conviction and 20-year prison sentence for enabling Epstein's abuse of underage girls.

☆ Berkshire Hathaway says Warren Buffett donates shares to family charities
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

Nov 23 (Reuters) - Berkshire Hathaway Inc (BRKa.N) said Warren Buffett has donated more of his fortune to four family charities, without disclosing whether the billionaire chairman made a new donation to the Bill & Melinda Gates Foundation. Buffett donated 1.5 million shares to the Susan Thompson Buffett Foundation. Another 900,000 shares were split evenly among charities run by his children Howard, Susan and Peter: the Howard G. Buffett Foundation, the Sherwood Foundation and the Novo Foundation. Buffett has since 2006 donated more than half of his Berkshire shares, worth more than $46 billion at the time of the donations. According the Buffett family foundation websites, the Howard G. Buffett Foundation works to alleviate hunger, mitigate conflicts and improve public safety around the world.

Nov 16 (Reuters) - Dell Technologies Inc (DELL.N) on Wednesday said it reached a $1 billion settlement of a lawsuit accusing it of short-changing some shareholders in a controversial $23.9 billion transaction in 2018 that marked its return as a publicly traded company. The disputed December 2018 transaction involved a stock swap related to Dell's interest in software maker VMware. Dell paid $14 billion in cash and issued 149.4 million Class C shares in exchange for outstanding Class V shares, which tracked VMware's publicly traded stock. Holders of the Class V shares sought $10.7 billion in damages, saying their stock was worth far more than Dell paid for it, while the Class C stock was worth far less than Michael Dell and Silver Lake claimed. Michael Dell was worth $52 billion on Tuesday, according to Forbes magazine.

Nov 12 (Reuters) - Theranos founder Elizabeth Holmes should spend 15 years in prison and pay $800 million in restitution to investors defrauded in the blood testing start-up, U.S. prosecutors recommended late on Friday. The Department of Justice recommendation, made in a court filing, came as Holmes prepares to be sentenced next week. "Considering the extensiveness of Holmes' fraud... the sentencing of 180 months' imprisonment would reflect the seriousness of the offenses, provide for just punishment for the offenses, and deter Holmes and others," the prosecutors said. Holmes earlier urged U.S. District Judge Edward Davila in San Jose, California not to send her to prison. Holmes founded Theranos in 2003 at the age of 19.

☆ The 'next Warren Buffett' curse: Sam Bankman-Fried is the latest market icon to fall after being compared to the legendary investor
▼ + stars: | 2022-11-12 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

The Warren Buffett curse is alive and well following the collapse of Sam Bankman-Fried and his crypto exchange FTX. Fortune magazine asked if Bankman-Fried was the next Warren Buffett in an August profile. Fortune put Bankman-Fried on the front page of its August issue, asking readers if he was in fact the next Warren Buffett? Several of Palihapitiya's SPAC companies soared in value amid the SPAC boom of 2020 and the early months of 2021. Palihapitiya was often compared to Buffett by market participants, and Brown called the investor "the new Buffett" on a podcast in January 2021.

Companies Theranos Inc FollowNov 11 (Reuters) - Elizabeth Holmes urged a U.S. judge not to send her to prison, as the founder of Theranos Inc prepares to be sentenced next week for defrauding investors in the blood testing start-up. "We ask that the court consider, as it must, the real person, the real company and the complex circumstances surrounding the offense." Holmes founded Theranos in 2003 at age 19, before dropping out of Stanford University. Theranos was once valued at $9 billion, and Forbes magazine in 2015 estimated Holmes' net worth at $4.5 billion. More than 130 friends, family, investors and former Theranos employees submitted letters to Davila urging leniency for Holmes.

Companies Virgin Galactic Holdings Inc FollowNEW YORK, Nov 7 (Reuters) - A U.S. judge on Monday said British billionaire entrepreneur Richard Branson must face shareholder claims he concealed problems in Virgin Galactic Holdings Inc's (SPCE.N) spaceship program, and sold hundreds of millions of dollars of stock at inflated prices. Lawyers for Virgin and Branson did not immediately respond to requests for comment. The lawsuit covers shareholders who owned the stock of either from July 10, 2019, to Oct. 14, 2021, when Virgin grounded Unity and delayed its commercial space travel service. In Monday afternoon trading, Virgin shares were up 5 cents at $4.97. The case is Kusnier et al v. Virgin Galactic Holdings Inc et al, U.S. District Court, Eastern District of New York, No.

☆ Jeff Bezos made housekeepers go 'without rest or meal breaks' and work in 'unsafe and unsanitary' settings, suit says
▼ + stars: | 2022-11-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | David K. Li | ) www.nbcnews.com time to read: +3 min

Amazon founder Jeff Bezos subjected housekeepers to "unsafe and unsanitary" conditions, barring them from rest breaks and easy access to bathrooms, according to a lawsuit filed in Seattle this week. The civil action by Mercedes Wedaa also accused Bezos' subordinates of racial discrimination against Hispanic houseworkers in favor of their white counterparts. In addition to extended work shifts that went as long as 14 hours with no breaks, there was "no reasonably accessible bathroom for the housekeepers," the lawsuit said. The lawsuit later claimed that housekeepers "frequently developed Urinary Tract Infections (UTIs)" due to not having easy access to restrooms. Bezos has a network of about $113 billion and is the world's fourth richest man, according to Forbes magazine.

☆ Adidas ends Ye deal over hate speech, costing rapper his billionaire status
▼ + stars: | 2022-10-27 | by ( Uday Sampath Kumar | ) www.reuters.com time to read: +4 min

Adidas put the tie-up, which has produced several hot-selling Yeezy branded sneakers, under review this month. "Adidas does not tolerate antisemitism and any other sort of hate speech," the German company said on Tuesday. Forbes magazine said the end of the deal meant Ye's net worth shrank to $400 million. The magazine had valued his share of the Adidas partnership at $1.5 billion. On Tuesday, Gap, which had ended its partnership with Ye in September, said it was taking immediate steps to remove Yeezy Gap products from its stores and that it had shut down YeezyGap.com.

But the theme of the event is continuity — of President Xi Jinping as leader, and with that the likelihood of friction with the U.S.-led West. Xi, China’s most powerful leader in decades, is poised to secure an unprecedented third term at this week’s twice-a-decade National Congress of the Chinese Communist Party in Beijing. “Those achievements have certainly strengthened the president’s leadership.”Under Xi, China’s gross domestic product has more than doubled to $17.7 trillion. Born in Beijing in 1953, Xi enjoyed a privileged youth as the second son of Xi Zhongxun, a Chinese communist revolutionary. “The long-term goals of President Xi, as well as general attitudes in the West, will make it very difficult for us to have more cooperation during his third term,” she said.

Circuit Court of Appeals in Manhattan, lawyers for Musk called the pre-approval mandate a "government-imposed muzzle" that inhibited and chilled his lawful speech on a broad range of topics. They also said the requirement violated the U.S. Constitution, and undermined public policy by running "contrary to the American principles of free speech and open debate." It is expected to file its own brief with the appeals court. In settling, Musk agreed to let a Tesla lawyer screen tweets that might contain material information about the company. In Tuesday's filing, Musk's lawyers said it was time to rein in the SEC, which is keeping him under "constant threat" it might reject his view of which disclosures require pre-approval.

☆ Jason Zweig — Columnist at The Wall Street Journal
▼ + stars: | 2022-09-19 | by ( Jason Zweig | Caitlin Mccabe | ) www.wsj.com time to read: 1 min

Jason ZweigJason Zweig writes The Intelligent Investor column every weekend for The Wall Street Journal. He also writes Back in Business, an occasional column about financial history. Jason is the author of “Your Money and Your Brain,” on the neuroscience of investing, and the editor of the revised edition of Benjamin Graham’s “The Intelligent Investor,” the classic text that Warren Buffett has described as “by far the best book about investing ever written.”Before joining the Journal, Jason helped the Nobel Prize-winning psychologist Daniel Kahneman write the book “Thinking, Fast and Slow.”Earlier, Jason was a senior writer for Money magazine, a guest columnist for Time magazine and CNN.com, and a senior editor at Forbes magazine. He spent a year studying Middle Eastern history and culture at the Hebrew University in Jerusalem.

☆ Patagonia's owner, who is giving the retailer away to a nonprofit, once lived in his car and still doesn't own a cellphone
▼ + stars: | 2022-09-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Patagonia's owner doesn't own a cellphone or computer, The New York Times reported. Yvon Chouinard lived out of his car and ate cat food as a professional rock climber in the 1960s. The 83-year-old is giving away Patagonia, worth about $3 billion, to a trust and nonprofit. He used to live out of his car and eat damaged cans of cat food that cost $0.05 each, the newspaper reported. Patagonia has annual sales of more than $1 billion, with profits of about $100 million, The Times reported.

☆ This is the most common zodiac sign among the world's richest billionaires
▼ + stars: | 2020-05-08 | by ( Anna Papadopoulos | Ceoworld Magazine | ) www.businessinsider.com time to read: +2 min

Libra was the most common sign, with 27 notable billionaires, like Ralph Lauren and Alice Walton. Pisces was next in line, while Cancer came in third as the most common billionaire sign. But did you know one zodiac sign, in particular, is the most likely to produce billionaires? A study has figured out the most common star sign among the world's wealthiest billionaires. With notable billionaires including Ralph Lauren, Stefan Persson, Liliane Bettencourt, Alice Walton, Libra is the star sign of 27 famous-wealthy faces.

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