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☆ Billionaire Barry Diller thinks Elon Musk has a 'form of megalomania' and is backing Trump after being rejected by Biden
▼ + stars: | 2024-10-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Barry Diller suggested Elon Musk endorsed Donald Trump due to "rejection" by the Biden administration. AdvertisementBarry Diller thinks Elon Musk is backing Donald Trump because he's bitter about being rejected by the Democrats, the billionaire told the "Fire and Fury" podcast. "Why he has gone this way, I think, is out of some weird bitterness and rejection by the current administration," Diller told presenters Michael Wolff and James Truman. Musk was once a supporter of Joe Biden, but the pair have often sparred verbally since Biden took office in 2021. At The New York Times' DealBook Summit the same month, Musk told departing advertisers to "go fuck yourself."

Persons: Barry Diller, Elon Musk, Donald Trump, Biden, Michael Wolff's, Musk, —, Diller, Michael Wolff, James Truman, Joe Biden, Rupert Murdoch, Twitter, X, It's, he's Organizations: IAC, Service, Democrats, Trump, America PAC, SpaceX, Republicans, Fox, Paramount, Democratic Party, Twitter, Disney, Apple, The New York Times, CNN, Forbes, Business Locations: Pennsylvania

☆ DJT stock: Trump has lost $4 billion in Truth Social wipeout
▼ + stars: | 2024-09-09 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Despite a 7% rebound on Monday, Trump Media has lost nearlythree-quarters (72%) of its value since peaking at $66.22 on March 27. The wipeout reinforces concerns raised by experts who have repeatedly warned that Trump Media’s multi-billion-dollar price tag defies logic. The company is losing money, generating very little revenue and Truth Social remains a relatively tiny player in social media. In August, Trump Media launched Truth+, a TV streaming platform on iOS, Android and the Web versions of Truth Social. It’s possible Trump Media’s stock market fortunes could turn, especially with the former president’s high-profile debate Tuesday with Harris.

Persons: Donald Trump’s, It’s, Trump, ” Matthew Tuttle, Barry Diller, ”, Reid Hoffman, Diller, Hoffman, Tuttle, Kamala Harris, Joe Biden, Harris, ” Tuttle, Still, you’re Organizations: New, New York CNN, Trump Media & Technology, Truth, Trump Media, Trump, Bloomberg, Tuttle Capital Management, CNN, CNBC, LinkedIn, Democratic, ” Trump Media Locations: New York

☆ In Harris, business leaders tired of Biden see a potential friend
▼ + stars: | 2024-07-30 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

Some business leaders and wealthy donors are hopeful that Harris will adopt more centrist policies as she outlines her agenda, especially by dialing back Biden-era antitrust crackdowns. “CEOs are wildly excited about Harris,” Jeffrey Sonnenfeld, founder and president of the Yale Chief Executive Leadership Institute, told CNN in a phone interview. Sonnenfeld pointed to confidence that Harris will protect the rule of law and hopes for recalibrated trade, regulatory and tax policies. Meanwhile, Harris, somewhat of an unknown commodity on business policy, hasn’t said much about where she stands. Another key sticking point is energy, where Trump has tried to blame the Biden-Harris administration for periods of high gas prices.

Persons: Kamala Harris, Harris, Biden, ” Jeffrey Sonnenfeld, Sonnenfeld, Lina Khan, Khan’s, hasn’t, “, ”, Greg Valliere, Democratic megadonor Reid Hoffman, Khan, Hoffman, Barry Diller, Diller, It’s, ” Diller, ‘, haven’t, PCCC, Adam Green, Harris –, ” Green, Lina Khan –, ” Sonnenfeld, “ It’s, Douglas Farrar, Donald Trump, Joe Biden, Trump, ” Trump, “ You’re, Lauren Hitt, didn’t Organizations: New, New York CNN, Biden, Big Tech, Democratic, Yale, Leadership, CNN, Federal Trade Commission, Progressives, AGF Investments, Business, Big Oil, Microsoft, FTC, “, Activision, CNBC, IAC, Progressive, Khan, Public Citizen, AFL, NAACP, Harris Administration Locations: New York, North Carolina

☆ How to behave as a superyacht guest
▼ + stars: | 2024-06-09 | by ( Madeline Berg | ) www.businessinsider.com time to read: +8 min

Meantime, Giorgio Armani held a party on his yacht for the likes of Sydney Sweeney and Kerry Washington. Being a guest on a superyacht is probably the best kind of guest to be — but the etiquette aboard the multimillion-dollar vessels comes with its own idiosyncrasies. The very few who need to know them — there are only about 5,800 yachts longer than 30 meters at sea, according to SuperYacht Times — already know them. The price to charter Triumph, a 65-meter superyacht, starts at $650,000 a week. According to the industry standard, owning a superyacht will cost 10% of its new-build price annually.

Persons: —, Mark Zuckerberg, Jeff Bezos, Barry Diller, Bezos, Koru, Bill Gates, Ari Emanuel, Leonardo DiCaprio, Eos, Diane von Furstenberg, Candice Bergen, Emma Thompson, Jason Blum, Giorgio Armani, Sydney Sweeney, Kerry Washington, they're, Rich, Fraser, he'd, Superyachts Organizations: Service, Business, SuperYacht, Palm, Breed Media, Fraser Yachts, Lamborghini Locations: superyachts, Aden

☆ Barry Diller Bets on Media Veterans to Turn Around The Daily Beast
▼ + stars: | 2024-04-15 | by ( Benjamin Mullin | ) www.nytimes.com time to read: +1 min

The Daily Beast has long been an outlier in the digital empire of the billionaire Barry Diller. As sites like Match.com and Expedia made millions over the years, Mr. Diller’s digital tabloid lost money, publishing scoop after scoop but struggling to turn a profit. Mr. Sherwood and Ms. Coles will be granted an equity stake equivalent to roughly half of The Daily Beast, with IAC keeping the majority, according to a person familiar with the matter. Mr. Sherwood, 60, will be its chief executive and publisher, and Ms. Coles, 61, will be chief creative and content officer. The decision to bring in Mr. Sherwood and Ms. Coles came after Mr. Diller considered a sale of The Daily Beast and had conversations with various suitors.

Persons: Barry Diller, Expedia, Diller, he’s, Ben Sherwood, Joanna Coles, Sherwood, Coles, Janice Min Organizations: Disney ABC Television Group, Hearst Magazines, IAC, Daily, Hollywood, Ankler Media, The Hollywood Locations: Ben

☆ Some Trump stock investors have already lost half their money
▼ + stars: | 2024-04-12 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Trump Media & Technology Group are in free fall. Trump Media is now trading below $31. Trump owns a dominant stake of 78.8 million shares in the company, which generates little revenue and is losing users. At the closing high for Trump Media’s stock price, the former president’s stake was valued at $5.2 billion. Trump Media disclosed losing $58 million in 2023 on very light revenue of just $4.1 million.

Persons: Donald Trump’s, Trump, ”, Shannon Devine, Capital’s Matthew Kennedy, Billionaire Barry Diller, ” Shannon Devine, it’s Organizations: New, New York CNN, Trump Media & Technology Group, Trump Media, Nasdaq, Trump, Big Tech, ” Trump Media, CNN, Expedia, People Magazine, IAC, CNBC Locations: New York

☆ Nelson Peltz might have scored $300 million after losing the Disney proxy war. But it was still a waste of time, expert says
▼ + stars: | 2024-04-05 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Read previewThe proxy war between Disney and billionaire activist investor Nelson Peltz is over. According to The Wall Street Journal, Peltz's hedge fund Trian Partners may have profited about $300 million by waging a 16-month proxy battle against Disney, citing anonymous sources familiar with the matter. AdvertisementLast February, Bloomberg reported that Peltz made about $154 million in paper profit after buying 9.4 million shares of Disney. After all, Peltz waged two separate proxy battles against Disney in less than two years. AdvertisementWhen asked about the outcome of Peltz's proxy war, IAC chairman and billionaire Barry Diller told CNBC's Squawk Box on Thursday that the battle was a "grand waste of time" and questioned the value of Petlz's activist campaign.

Persons: —, Nelson Peltz, Bob Iger, Iger, Peltz …, Peltz, Trian, James Park, Barry Diller, CNBC's Organizations: Service, Disney, Wall Street, Business, Bloomberg, The, University of California, IAC, Trian Partners Locations: Los Angeles

☆ Barry Diller shares urgent warning about AI
▼ + stars: | 2024-04-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Billionaire Barry Diller said it's time to get serious about regulating AI. Diller has two suggestions for legislators about how to reel in AI. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The latest titan to voice alarm is the media billionaire Barry Diller, who raised his concerns about AI to CNBC on Thursday. "All attention should go towards regulating artificial intelligence, and we don't have a minute to lose," the IAC chairman said.

Persons: Barry Diller, Diller, —, we're Organizations: Service, CNBC, IAC

☆ What yachting industry insiders have to say about Jeff Bezos' superyacht
▼ + stars: | 2024-03-27 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Read previewIt'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. Unlike many other megayachts, Koru, which media billionaire Barry Diller's Eos inspired, is designed as a sailing yacht. AdvertisementLike most other megayachts, Koru is powered by her engines, which are reportedly innovative in their use of a kinetic energy recovery system. AdvertisementTeak or not, the yachting industry isn't generally known for being all that environmentally friendly — or indeed lowkey, so many who BI talked to didn't buy into the idea that Koru is "too much." It's the latest superyacht to capture the yachting world's attention.

Persons: —, Jeff Bezos, Koru, they'd, Federico Rossi, Barry Diller's Eos, he'd, Bezos, Lauren Sanchez, Origin's, Shephard, That's, Anders Kurtén, I'm, Jerry Jones, Bernard Arnault, Mark Zuckerberg Organizations: Service, Palm, Business, Industry, Yachts Locations: Netherlands, St, Myanmar

☆ The 2023 superyacht summer recap: Jeff Bezos is now king of the high seas
▼ + stars: | 2023-09-14 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

For billionaires and their celebrity friends, warm weather means it's yacht season. Four years later, Bezos is no longer Amazon's CEO, and he's spent the last few months earning a new title: king of the high seas. As 2023's yacht season comes to a close, it's clear that Bezos' brand new $500 million superyacht won the summer. AdvertisementAdvertisementYacht season's runner-up: billionaire Barry Diller's EosThe Eos, owned by Barry Diller and Diane von Furstenberg, is a yacht-season staple. The Eos docked in Venice to end its summer season, where von Furstenberg hosted the annual DVF Awards — and began furnishing one of her dry-land residences.

Persons: Jeff Bezos, David Geffen's, Goldman Sachs, Lloyd Blankfein, he's, superyacht, David Zaslav, Bezos, Koru, Lauren Sanchez —, —, that's, Sanchez, Bill Gates, Whitney Wolfe Herd, Ari Emanuel, Leonardo DiCaprio, Orlando Bloom, Katy Perry, Usher, Barry Diller's Eos, Barry Diller, Diane von Furstenberg, Horacio Villalobos, Eos, Diller, von Furstenberg, Oprah Winfrey, Gayle King, Edward Enninful, Valentino, Valentino Giancarlo Giammetti, Kris Jenner, Candice Bergen, Emma Thompson, Jason Blum, Diane Sawyer, Bryan Lourd, Giorgio Armani's, Sydney Sweeney, Kerry Washington, Geffen, it's Organizations: Service, Warner Bros, Discovery, Hollywood, Bezos, British Vogue, Creative Artists Agency, Geffen Locations: Wall, Silicon, Gibraltar, Spain, Cannes, Positano, Dubrovnik, Croatia, Mallorca, Greece, Amalfi, Venice, Venice's, Capri, Portland , Maine

☆ Billionaire Barry Diller says the media should 'absolutely' sue AI makers over ingesting text from articles
▼ + stars: | 2023-04-12 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Barry Diller warned publishers to prepare to fight in order to get paid for AI's use of their work. Diller made the comments at the Semafor Media Summit in New York. "Companies can absolutely sue under copyright law," he said. "It's not clear right now to what extent that has copyright implications," Gerratana said. "It's possible we'll see court decisions that apply copyright law in ways that we wouldn't have expected, because this technology is new, the circumstances are new, and the facts are new."

☆ Billionaire Barry Diller said there is something 'quite odd' in Mark Zuckerberg's decision to turn Facebook into Meta
▼ + stars: | 2022-11-07 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

IAC founder Barry Diller said "something is quite odd" in Mark Zuckerberg's metaverse pivot. Meta has shed over 70% of its value since the Facebook founder changed its name. Diller has made billions in founding and investing in top media companies like Expedia Group, Fox Broadcasting Company and USA Broadcasting. Last week, Federal Communications Commissioner Brendan Carr told Axios regulatory agencies like the Council on Foreign Investment in the US should take action to ban the app which is owned by Chinese media company ByteDance. At Meta, Zuckerberg has continually copied the popular video-app, rolling out features like Instragram Reels.

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