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But by the end of the day, his net worth jumped by $17 billion to $201 billion, the index reported, calling it his third-biggest daily increase ever. That market, which accounted for 31% of total revenue last year, is dominated by China. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%. However, experts urged investors to be cautious as officials must still come up with ways of stabilizing the property market, which once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.
Persons: Bernard Arnault isn’t, Arnault, LVMH, , Nomura, Xi Jinping, Pan Gongsheng, Pan Organizations: Hong Kong CNN, LVMH, Bloomberg, Markets, People’s Bank of China Locations: China, Hong Kong, LVMH, Paris, Asia, “ Beijing
Elon Musk is worth more than Salesforce or Pepsi after a $100 billion wealth gain since April. Go to newsletter preferences Thanks for signing up! The Tesla CEO's net worth crashed from $229 billion at the start of January to $164 billion by late April, per the Bloomberg Billionaires Index. However, shares of the EV maker have surged by over 80% from their April low, driving a more than $100 billion increase in Musk's wealth to $270 billion at Wednesday's close. That includes an almost $50 billion rise since August 7, when Musk's fortune stood at an estimated $223 billion.
Persons: Elon Musk, , Elon Organizations: Pepsi, Service, Tesla, Bloomberg, Business
I had never visited San Francisco and arrived without a place to live. Once I got my bearings in San Francisco, I would start chasing after the dream job for which I uprooted my life. The perks were as good as advertised, and Google met my expectations of a dream job. I had moved across the country for my dream job, so I wouldn't let a four-hour daily commute stop me now. It started by uprooting my life and commuting four hours a day for my dream job at Google, and it was totally worth it.
Persons: , Mike Manalac, It's, Vince Vaughn, Owen Wilson, San Francisco I, Tesla, I'd, don't, Lauryn Haas Organizations: Service, Google, CPA, Business, Walmart's, Silicon, Baltimore, Facebook, Fortune, Big Tech, Amazon Prime, LinkedIn, Sunnyvale, San, lhaas Locations: Chicago, CohnReznick, Baltimore, PwC, San Francisco, Sunnyvale , California, Silicon Valley, San, San Bruno, Sunnyvale, East Coast , West Coast, Midwest
Mark Cuban is among the richest people in the US, with an estimated net worth of $5.7 billion. He's earned his fortune through business deals including the $5.7 billion sale of Broadcast.com. Go to newsletter preferences Thanks for signing up! AdvertisementMark Cuban, 66, is one of the wealthiest people in America, with an estimated net worth of $5.7 billion, according to Forbes. This story is available exclusively to Business Insider subscribers.
Persons: Mark Cuban, He's, Organizations: Service, Forbes, Business Locations: Dallas, America
Sutskever announced his departure from OpenAI in May and launched his own AI startup focused on safety. Of the 11 cofounders of OpenAI from 2015, only Altman, Brockman (who, again, is on leave), and Wojciech Zaremba remain. Daniel Kokotajlo and William Saunders, who previously worked on OpenAI's governance and safety teams, respectively, left OpenAI in the first half of 2023. AdvertisementAdditionally, OpenAI cofounder John Schulman left in August to join OpenAI rival Anthropic — where Leike also landed. On Wednesday, Meta announced that Meta AI is on track to be "the most used AI assistant in the world."
Persons: , Mira Murati, Sam Altman, There's, OpenAI, Airbnb, KugtVv9o6N, Matt Turck, Altman, Murati, Ilya Sutskever, Greg Brockman, Brockman, Sutskever, Sam, Madeline, PnRxZSbGgx — sophie, Bob McGrew, Barret Zoph, Sarah Friar, Jakub Pachocki, Brad Lightcap, Kevin Weil, Wojciech Zaremba, Elon Musk, Musk, Jan Leike, Daniel Kokotajlo, William Saunders, John Schulman, Anthropic, Leike, Andrej Karpathy, Kokotajlo, Fortune Organizations: Service, Bloomberg, Business, Wired, OpenAI, , Microsoft, Meta, Apple, Nvidia, Reuters Locations: OpenAI, Slack,
Amazon workers have until January before they'll be expected in corporate offices five days a week, but some aren't expecting to stick around that long. In a recent survey of 2,585 Amazon employees on anonymous job review site Blind, 73% said they are considering looking for a new job following CEO Andy Jassy's recent memo announcing a full-time return-to-office. Further, 80% of the Amazon professionals polled reported that they know of a colleague considering looking for another job because of the announcement. Another survey from Glassdoor finds that 74% of Amazon workers are "rethinking" the future of their careers, whether at the tech giant or elsewhere. Amazon workers are "strongly dissatisfied" with the policy change, according to an anonymous survey created by employees, reported by Fortune.
Persons: they'll, Andy Jassy's, Jassy, we've Organizations: Slack, Amazon, CNBC
Some fans of Justin Bieber are claiming the singer released a track referring to parties alleged to have been organized by Sean “Diddy” Combs after what appears to be a fake song resurfaced online last weekend. Bieber, 30, first met Combs as a teenager and developed a close friendship with him early in his career. The two collaborated on the 2023 song “Moments.”Their relationship is now being scrutinized by fans of Bieber online, who have used the song to express concerns over their dynamic. Bieber hasn’t publicly commented on the accusations against Combs, nor has he made any of his own allegations. Since then, multiple lawsuits have accused him of sexual harassment, sexual assault and sex trafficking.
Persons: Justin Bieber, Sean “ Diddy ” Combs, Combs, , It’s, hasn’t, Bieber didn’t, Bieber, Bieber hasn’t, Cassie, Organizations: NBC, New York City Locations: New York
Read previewWhole Foods' CEO has his eye on Gen Z. "Over 70% of Gen Z supports climate-friendly agriculture practices," Buechel told host Brian Sozzi about the survey findings in the interview, released on Tuesday. AdvertisementWhole Foods is not the only retail giant tailoring its offerings to suit Gen Z consumers' needs. According to the research report, 50% of the Gen Z shoppers surveyed wanted a virtual shopping assistant. "It also ties into some of the things that you find in the report which is immediacy, speed, instant gratification, especially with Gen Z, including my own daughters.
Persons: , Jason Buechel, YouGov, Buechel, Brian Sozzi, John Mackey, Fortune, Mackey, Suresh Kumar, Zers, Kumar, Gen Organizations: Service, Yahoo, Business, Foods, Amazon
Three Walmart heirs have net worths of at least $100 billion, per Bloomberg. Jim Walton is worth $103 billion, while Robson and Alice are worth $101 billion and $100 billion each. The trio's combined net worth has reached $304 billion, dwarfing Elon Musk's $268 billion fortune. AdvertisementThree Walmart heirs are now worth at least $100 billion each — and together they're richer than the world's wealthiest person, Elon Musk. The three surviving children of the late Sam Walton — Jim, Robson, and Alice — are now worth $103 billion, $101 billion, and $100 billion respectively, per the Bloomberg Billionaires Index.
Persons: Jim Walton, Robson, Alice, dwarfing Elon Musk's, , Elon Musk, Sam Walton — Jim, Alice — Organizations: Walmart, Bloomberg, Service, Business
But as other pandemic Zoomtowns continue to see increases in prices and rents, Austin stands alone in its change of fortune. Housing in Austin has been through so many extreme distortions that nobody really knows what "normal" even means anymore. All told, Austin's housing stock has ballooned by more than 76,000 units since 2020, an 8.34% increase that includes single-family homes, condos, and townhomes. Considering the size of the Austin market, moving the stock of homes by nearly 10% is a colossal feat. Related storiesNobody watching the Austin market should be having flashbacks to the Great Recession.
Persons: Austin, homebuyers, homebuilders, Zillow, Elon Musk, Joe Rogan, Homebuyers, Keith Hughes, I'd, That's, Jason Lewris, Lewris, Doreen Sidney, Austin wasn't, Austin's homebuilders, Freddie, Sean Kelly, Rand, Freddie Mac, Jenny Schuetz, homebuilding, Kelly, he's Organizations: Austin, Oracle, Facebook, Google, Elon, Census, Parcl Labs, Federal Reserve, San Antonio —, Austin ., Freddie Mac, Brookings Institution Locations: California, Austin, Real, Texas, Francisco, San Francisco, San Antonio, Boston
AssumptionAn assumable mortgage will let a borrower transfer the mortgage to someone else even if they haven't fully paid it off. Assumable mortgagesIf you have an adjustable-rate mortgage or a government-backed mortgage (including FHA, VA, and USDA mortgages), you might have an assumable mortgage. Finally, if you want to transfer a property into a trust, a mortgage transfer may be able to help, too. Mortgage transfer processIf you think a mortgage transfer is the right move for your needs, follow this step-by-step process. If the lender doesn't approve a mortgage transfer, you will need to explore other options, such as refinancing your mortgage or selling your house.
Persons: You'll, Molly Grace, Molly, Read, Aly J, Yale Aly J, Aly, She’s Organizations: Chevron, Business, Rocket Companies, Indiana University, Yale, Finance, Dallas Morning News, CBS, Forbes, Fortune, Money, Newsweek, US, Wall Street Journal, Yahoo Finance, Mortgage, National Association of Real, Insurance, Texas Christian University Locations: Chevron, Michigan
(For perspective, Trump's 2016 settlements in three Trump University fraud cases totaled $25 million.) AdvertisementTrump has denied any fraud, and his lawyers argue in their appeal that the judgment is unjustified, legally flawed, and excessive. By winning his appeal, Trump would also dodge the judgment's non-monetary punishments, which are many. Winning would mean Trump, Donald Trump, Jr., and Eric Trump would no longer face being banned for two years from running Trump Org or any other business in New York state. By appealing, Trump has kept all of these fraud punishments on ice, with the exception of the Trump Org monitoring, which is ongoing.
Persons: , Donald Trump, John Sauer, ometer, Trump, Arthur Engoron, Donald Trump's, Letitia James, Engoron, He'd, Donald Trump , Jr, Eric Trump, Read Organizations: Service, Trump, Business, Trump University, D, New, Trump Organization, Trump's, Trump Org Locations: New York, Manhattan, Trump's Manhattan
Ryan Murphy, the creator of “Monsters: The Lyle and Erik Menendez Story,” is defending the new Netflix series after it was harshly criticized by one of the brothers. Erik Menendez slammed the series, released Sept. 19 on Netflix, as "blatant lies" and called the portrayal of his brother Lyle "ruinous" in a statement from prison released by his wife. Brothers Joseph “Lyle” Menendez, now 56, and Erik Menendez, now 53, were convicted in their parents' murders in 1996 after two trials, and sentenced to life in prison without parole. Ryan Murphy on Monday responded to the backlash from Erik Menendez, telling E! In his Sept. 19 statement, Erik Menendez said: “I believed we had moved beyond the lies and ruinous character portrayals of Lyle, creating a caricature of Lyle rooted in horrible and blatant lies rampant in the show.
Persons: Ryan Murphy, Lyle, Erik Menendez, , Jose, Kitty Menendez, Brothers Joseph “ Lyle ” Menendez, hasn’t, Cooper Koch, ” Murphy, Jeffrey Dahmer, , who’s, that’s, ” Erik Menendez, Lyle Menendez, Vince Bucci, Erik, he's, “ I’m, , ’ ” Organizations: Netflix, Beverly Hills, Getty, Prosecutors Locations: Beverly, California, Los Angeles, AFP
CNN —A diamond necklace that has been worn at two British coronations, and is thought to have stones from the infamous necklace at the heart of a Marie-Antoinette scandal, is expected to fetch up to $2.8 million at auction. PA Images/Getty ImagesAfter the family parted with the diamond piece in the 1960s, it was exhibited in the American Museum of Natural History before being acquired by a private collector. Sotheby'sThe piece consists of three rows of diamonds that trail on either side into a diamond tassel. A glittering scandalSome of the diamonds from the necklace may have come from the piece at the heart of the “Affair of the Diamond Necklace” scandal, according to the auction house. The necklace, in the hands of a trickster, had in the meantime actually been broken up and sold in London.
Persons: Marie, Antoinette, Royal, Noble, Sotheby’s, Marjorie Paget, marchioness of, King George VI, Queen Elizabeth II, Lady Woolton, Marquess, Marchioness, , Andres White Correal, Hope Diamond, Louis XVI, of, Queen Organizations: CNN, Westminster Abbey, American Museum of Locations: Sotheby’s, London, Geneva, Switzerland, Anglesey, marchioness of Anglesey, Europe, Middle, Golconda, of France
I was a content creator on LinkedIn and TikTok already, so understood the creator space. AdvertisementMy grad job offer was rescindedEven though I was already freelancing, I planned to work in a corporate job after university. That same month LinkedIn told me my job offer had been rescinded because the program was sunsetted. I'd planned to move to San Francisco for the LinkedIn job. Since my first job offer was rescinded, I've been in the mindset that I have to bet on myself.
Persons: , Ben Chipman, TikTok, Serena Kerrigan, I'd, grads I'd, I've Organizations: Service, NBC Universal, Duke University, Business, Duke, LinkedIn, Companies, Fortune, We'd Locations: San Francisco, Boston, Lima , Peru, Madrid, New York
Pepsi's North America CEO Ram Krishnan says he's "super intentional" about how he spends his time. He told Fortune that he uses a pie chart to split his waking hours between five priorities. 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 . AdvertisementPepsiCo Beverages' North America CEO Ram Krishnan has a hack to fully maximize the 24 hours he has in a day.
Persons: Ram Krishnan, Fortune, , Fortune's, Krishnan Organizations: North, Service, PepsiCo Beverages, Business
Marjorie Merriweather Post built Mar-a-Lago as her winter home in Palm Beach, Florida, in 1927. Donald Trump bought Mar-a-Lago in 1985. Go to newsletter preferences Thanks for signing up! AdvertisementBefore former President Donald Trump owned Mar-a-Lago, it belonged to the richest woman in the US. Marjorie Merriweather Post, heiress to her father's Post cereal fortune, built the Palm Beach, Florida, estate as her winter home.
Persons: Marjorie Merriweather, Donald Trump, , Marjorie Merriweather Post, Topridge Organizations: Mar, Service, Construction, Business Locations: Palm Beach , Florida, Lago, Beach , Florida, Hillwood, Washington ,, Upstate New York
The biggest story in media right now has nothing to do with sexting. But recently, Rupert Murdoch has been trying to change those plans, and pass along full control to Lachlan Murdoch, who now has the CEO title at both News Corp and Fox. AdvertisementElisabeth Murdoch and her father, Rupert Murdoch, pictured in 2010. I think Lachlan would hope to figure out ways to keep on keeping on. Related storiesThroughout his career, Rupert Murdoch was always willing to sell assets he'd spent time and money acquiring.
Persons: Rupert Murodoch's, Murdoch, haven't, Rupert Murdoch's, Lachlan, James, Elisabeth, Prudence —, Rupert Murdoch, Lachlan Murdoch, David Folkenflik, Elisabeth Murdoch, Samir Hussein, he'd, didn't, I've, Rupert, Prudence Murdoch, Prudence MacLeod, Evan Agostini, It's, He's, it's, NPR's David Folkenflik, Gabriel Sherman, you've, Suzanne Scott, who've Organizations: Service, Fox News, Business, — News Corp, New York Post, Street Journal, Fox Corp, Fox, News Corp, HBO, Trump . Fox News, Disney, Sky News, Capitol, NPR, Nevada Supreme, Court, Corp, Old Media, Fair, NBC, Street Locations: Reno , Nevada, Nevada, Rupert's, Australia, Reno
I'm a senator," Helmy told me. "Whether you're here for a day, or three months, four months, or 40 years, you're a United States Senator." "I see myself as sort of continuing my prior roles as a staffer," Helmy told me. Sitting in Menendez's former office, Helmy also lamented the way the long-serving New Jersey senator's career came to an end. "Bob's office was the office you always competed with," Helmy noted, referencing his own time with Booker and former Sen. Frank Lautenberg.
Persons: George Helmy's, Helmy, you've, Sen, Bob Menendez, Phil Murphy, Menendez, I'm, Cory Booker, Bill Clark, who've, Joe Biden's, Patty Murray, Kamala Harris —, he's, Frank Lautenberg —, Helmy —, Chris Christie, Jeff Chiesa, Democratic Sen, Mo Cowan, John Kerry, Cowan —, , George, — Mo Cowan, Chiesa, Booker, Booker aren't, Michael Bennet, Colorado Sen, John Hickenlooper, Murphy, Andy Kim, Tammy Murphy, Kim, Menendez's, Semafor, Bonnie Cash, Curtis Bashaw, Frank Lautenberg, there's Organizations: Service, Capitol, Garden State, Democratic Gov, Coptic, Getty, Pro Tempore, Society of, Republican, Democratic, State, Society, Colorado, Port Authority of New, GOP, New Jersey senator's Locations: Sen, New Jersey, States, Coptic American, Washington, Pennsylvania, Jersey, Massachusetts, Denver, Port Authority of New York, Garden
Insider Today: Nike's airball
  + stars: | 2024-09-22 | by ( Matt Turner | ) 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. This story is available exclusively to Business Insider subscribers. I'll be here on the weekend to break down some of the biggest stories in business and help you get ahead. The Oregon-based company last week announced Elliott Hill would return to the company as CEO, replacing John Donahue. AdvertisementAn internal "Frequently Asked Questions" document, obtained by Business Insider, outlined how the RTO plan will work.
Persons: , Matt Turner, Donald Trump, There's, It's, it's, Elliott Hill, John Donahue, Dre Waltizer, Jeff Chiu, Alyssa Powell, Larry, Wayne Osborne, Osborne, Wayne, Andy Jassy, David X Prutting, Paul Porter, Rebecca Zisser, Alexander brothers, Oren, Alon, Tal Alexander, iStock, — Mark Zuckerberg, Taylor Swift Organizations: Service, Fed, Nike, Business, Investors, Google Locations: China, The Oregon
For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. My great-grandparents passed down a large fortune to their kids, who passed it down to my parents when they died. Now, my parents have their share of the family inheritance. Write to For Love & Money using this Google form .
Persons: , grandchildren's, Grandpa, doesn't Organizations: Business, Service
For decades, Sean “Diddy” Combs presented the image of a wealthy, Black music mogul, one who broke business barriers, threw lavish parties and even created iconic TV moments. But behind the scenes, prosecutors say, was a more sinister picture, with allegations of violence, sex trafficking and severe abuses of power. Sean "Diddy" Combs during a photo shoot to promote a Sean John fragrance in 2016. Casandra Ventura and Sean "Diddy" Combs attend the the Met Gala in New York City on May 7, 2018. Designer Donna Karan, musician Tommy Lee, singer Mariah Carey, host Sean "Diddy" Combs, Star Jones and rapper Reverend Run at "The Real White Party" presented by Combs at his East Hampton, N.Y., estate on Sept. 2, 2007.
Persons: Sean “ Diddy ” Combs, Combs, Tupac, Al Yankovich, Jennifer Lopez, Versace, , Sean, Diddy, Sean John, Damian Williams, ” Fatima Goss Graves, ” “ Combs, , Goss Graves, ” Combs, Casandra, Cassie ” Ventura, Ventura, Dawn Richard, Rodney “, Rod ” Jones, Derrick Lee Cardello, Smith, Casandra Ventura, John Shearer, Oronike Odeleye, Kelly, Odeleye, ’ ” Odeleye, Combs ’, Craig Mack, Faith Evans, ” Richard, Nate Dogg, Snoop Dogg, Sean Combs, Forbes, Laurieann Gibson, , Paris Hilton, Leonardo DiCaprio, Mariah Carey, Jay, Oprah, ” Carson, Carson, Black, Donna Karan, Tommy Lee, Star Jones, Bryan Bedder, he’s, Mase, Aubrey O’Day, Danity Kane, O’Day, I’ve Organizations: Bad Boy Records, Penske Media, Getty, U.S, Metropolitan Detention, National Women’s Law, Legal Defense Fund, Hollywood, , Uptown Records, Bad Boy Entertainment, MTV, University of Virginia, Labor, Paris, White Party, White, Bad, TMZ Locations: New York, Michigan, New York City, Carson, East Hampton, N.Y
He's also outperformed the S&P 500 over that time by returning 14% per year on average versus the index's 13.8% annualized gains. Between July and September 1999, Buffett shared his outlook for the market in a series of talks that were summarized by Fortune's Carol Loomis in November of that year. AdvertisementSince then, however, investors have enjoyed 15 years of ultra-low interest rates and growing corporate profits — a fact that has Smead worried. "The only problem is it's a curse on long-term S&P 500 performance," Smead said of the 15-year run. Related storiesBaked into Smead's outlook is an against-consensus view that inflation is set to surge again as the Fed cuts interest rates.
Persons: , Bill Smead, Warren Buffett, Charlie Munger, Smead, Munger, He's, Buffett, Fortune's Carol Loomis Organizations: Service, Business, Morningstar, Apple, Bank of America
Mari Pepin and Kenny Braasch got engaged on season 7 of "Bachelor in Paradise" and married in 2023. Pepin was a participant on "The Bachelor" season 25, which aired in 2021, and then returned for "Bachelor in Paradise" season 7 later that year. After "Bachelor in Paradise" aired and her following jumped, influencer opportunities followed. Mariela Pepin, who goes by Mari, was a contestant on "The Bachelor" season 25 and then "Bachelor in Paradise" season 7. Still, 57% of Gen Zers said they would like to become an influencer if given the chance, according to a 2023 report from Morning Consult.
Persons: Mari Pepin, Kenny Braasch, Pepin, Kenny Braasch's, Braasch, Mariela Pepin, Mari, influencers, Casey Lewis, Gen Zers, Lewis, Bankrate Organizations: Finance, Pepin, CNBC, Brands Locations: Chicago, U.S
Kevin O'Leary changed how he spends money after learning about his mother's Chanel jackets. The "Shark Tank" star began treating purchases like investments, prizing quality and resale value. Go to newsletter preferences Thanks for signing up! AdvertisementLong before Kevin O'Leary struck his first "Shark Tank" deal, his mother, Georgette, taught him an important lesson that changed how he spends money. In his book, "Cold Hard Truth on Men, Women & Money," O'Leary recalls admiring a classic Chanel jacket she wore to one of their family's Christmas dinners in the 1980s.
Persons: Kevin O'Leary, Chanel, , Georgette, O'Leary, she'd Organizations: Service, Business
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