Tag: Money

‘Succession’ Fight: Can Logan Roy Save His $18 Billion Fortune?

Days after his son Kendall’s explosive press conference left the media conglomerate Waystar Royco teetering on the brink, the Roy family patriarch opens up as he goes to war with his children, his shareholders and potentially the U.S. government. By Sergei Klebnikov, Giacomo Tognini and Lisette Voytko It’s been a tumultuous 48 hours for Logan […]

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A Glimpse Into Future Investing

Image credit: Mathieu Stern This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. For centuries, the relationship between individuals and investment has been almost entirely siloed. There is you, and there is your banker, and there is a lot of legal and structural scaffolding to make sure that no one gets in between that relationship. Widening out […]

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Singapore Tycoon John Lim’s ARA LOGOS, ESR REIT To Merge In $1 Billion Deal Amid E-Commerce Boom

ARA LOGOS Commodity Hub Courtesy of ESR ARA LOGOS Logistics Trust—backed by tycoon John Lim and billionaire Chew Gek Khim’s Straits Trading—on Friday agreed to merge with ESR REIT in a deal valued at S$1.4 billion ($1 billion) that aims to tap the booming e-commerce demand for warehouses and logistics facilities across the Asia-Pacific. The […]

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Philippine Tycoon Manuel Villar’s AllDay Marts Pegs IPO Price At Lower End Of Range; Still Plans REIT Listing

Manuel Villar answers a question during an AFP interview in Manila on January 15, 2010. JAY DIRECTO/AFP via Getty Images AllDay Marts—controlled by billionaire Manuel Villar—priced its initial public offering at 0.60 pesos per share, 25% lower than the maximum indicative price, adding to signs of waning investor appetite in one of the hottest IPO […]

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UnitedMasters Launches Deal With Coinbase to Let Artists Get Paid in Cryptocurrency

UnitedMasters Launches Deal with Coinbase to Let Artists Get Paid in Cryptocurrency G/O Media may get a commission The platform is one of the first to offer this option, Bloomberg reports. Coinbase’s new payroll product gives artists the ability to choose how much of their royalties will be paid to them in cryptocurrency, as well […]

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Tycoon Lim Kok Thay’s Genting Malaysia To Inject $150 Million In U.S. Casino Operator Empire Resorts

A general view of the Genting amusement area, at the Resort World Convention Hall in Genting … [+] Highlands on August 1, 2008 in Kuala Lumpur, Malaysia. Kristian Dowling/Getty Images Genting Malaysia—controlled by billionaire Lim Kok Thay—has agreed to inject a further $150 million into Empire Resorts to help the U.S.-based casino operator repay its […]

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Philippine Billionaire Ricardo Po, Founder Of Century Pacific Food, Dies At Age 90

Ricardo Po Sr. Courtesy of Century Pacific Billionaire Ricardo Po Sr.—founder and chairman emeritus of Century Pacific Food—passed away on Monday due to complications arising from surgery, his company said in a statement. “Under his vision and leadership, the Century Pacific Group has grown its interests from affordable food and beverages to family restaurant chains […]

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Why This Year’s Next Billion-Dollar Startups Are Younger, Smaller

Ryan Boyko, cofounder of Embark Veterinary (with his dog Harley): As valuations have risen, the dog DNA testing company, with $36 million in estimated 2020 revenue, is the largest on this year’s list by sales. Boston Globe via Getty Images While we were reporting this year’s Next Billion-Dollar Startups list, three companies we were strongly […]

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Next Billion-Dollar Startups 2021

A $1 billion valuation isn’t what it used to be, as companies reach that milestone with breakneck speed, but there are still plenty of up-and-comers worth keeping an eye on. Here are Forbes’ picks for 25 venture-backed startups most likely to become unicorns. For the seventh year in a row, Forbes has teamed up with […]

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US Vivendi Investors Were Shortchanged, But ABBA Mania & George Lucas Are The Key To Great Growth For UMG

ABBA, one of the most successful Universal Music Group bands in history, has reunited after 40 … [+] years. UMG has faith the new Voyager album and space-age digital London shows created by Star Wars legend George Lucas’ firm Industrial Light & Magic will be a winner. getty Pioneering Universal Music Group will have exponential […]

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Philippines’ Ayala Land Transfers $305 Million Of Commercial Properties Into AREIT

High rise buildings stand along Ayala Avenue in the financial district of Manila, the Philippines, … [+] on Monday, May 6, 2013. © 2013 Bloomberg Finance LP Ayala Land—controlled by billionaire Jaime Zobel de Ayala and his family—said it has transferred office and retail properties worth 15.5 billion pesos ($305 million) into its real estate […]

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Billionaire Ajay Piramal Is Creating Two Behemoths—In Financial Services And In Pharma

Ajay Piramal Courtesy of Piramal Enterprises. Fresh from the $4.7 billion acquisition of troubled lender Dewan Housing Finance Corporation Ltd. (DHFL) last week, pharma tycoon Ajay Piramal, 66, is simplifying the structure at the $1.7 billion (fiscal 2021 revenue) Piramal Enterprises by creating a diversified financial services conglomerate and a leading pharma player. On Thursday, […]

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Singapore Billionaire Chew Gek Khim Turns Colonial Era Straits Trading Into Dynamic Real Estate Investor

After a blockbuster deal that realized over a half-billion in profits, Straits Trading’s Chew Gek Khim looks to create more returns through savvy investments. After taking control of one of Singapore’s oldest companies more than a decade ago, Chew Gek Khim, executive chairman of Straits Trading, had a plan: To streamline the firm’s tin business and […]

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Philippine Tycoon Andrew Tan’s Megaworld To Build $1.9 Billion Business District North Of Manila

A development owned by Megaworld, a unit of Alliance Global Group, in Manila, the Philippines, on … [+] June 21, 2019. Veejay Villafranca/Bloomberg Megaworld—controlled by billionaire Andrew Tan—said Wednesday it will invest 98 billion pesos ($1.9 billion) to build a suburban business district in the province of Bulacan, about 26 kilometers north of the Philippine […]

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The Best Wallets and Money Clips for You or a Dude Who Deserves an Upgrade

In addition to having a healthy aversion to using GPS; being able to make a passable, from-scratch margarita (even if you don’t drink); and possessing basic television-mounting knowledge, a sturdy, dependable wallet is high on the list of things men should have.  Now, there are plenty of good wallets out there, ranging from leather stalwarts […]

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South Dakota Is a Moral Sewer and Should Be Abolished

If Janklow would abolish South Dakota’s interest-rate ceiling, Citibank promised, Citibank would create 400 jobs in his state. In 1981, Janklow delivered. “Thanks to Janklow,” Oliver Bullough wrote in The Guardian in 2019, “South Dakota has a financial services industry, and the US has a trillion-dollar credit card debt.” Delaware and Nevada followed South Dakota’s lead, creating a financial-services boom in […]

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China Real Estate Developer Fantasia’s Credit Rating Cut To Default

Fantasia’s default comes amid payments problems at China Evergrande Group, the world’s most indebted … [+] real estate developer, and worries about levels of local government debt in the country. (Photo by JADE GAO / AFP) (Photo by JADE GAO/AFP via Getty Images) AFP via Getty Images China real estate developer Fantasia Holdings credit rating […]

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Malaysian Tycoon Tony Fernandes’ AirAsia Receives $120 Million In Government-Backed Loan

AirAsia Group Bhd. aircraft stand on the tarmac at Kuala Lumpur International Airport 2 (KLIA 2) in … [+] Sepang, Selangor, Malaysia, on Monday, Aug. 24, 2020. © 2020 Bloomberg Finance LP AirAsia Group—controlled by tycoon Tony Fernandes—said Tuesday it has received approval from Danajamin Nasional Berhad for a loan of up to 500 million […]

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Billionaire Gautam Adani Completes $3.5 Billion Buyout Of Softbank’s Renewable Energy Unit In India

Gautam Adani at the inaugural session of the UP Investors’ Summit 2018 at the Indira Gandhi … [+] Pratishthan, in Lucknow, India. Subhankar Chakraborty/Hindustan Times via Getty Images Adani Green Energy, part of the Gautam Adani-owned Adani group, has completed its deal to acquire SB Energy India for $3.5 billion, the largest acquisition yet in […]

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Bezos Bets On Indonesia’s Mom-And-Pop Shops With Investment In Ula

Ula’s co-founders (left to right) Riky Tenggara (COO), Derry Sakti (CCO) and Alan Wong (CTO). COURTESY OF ULA Amazon founder Jeff Bezos has joined the latest funding round for Indonesian startup Ula, the first such investment in Southeast Asia for the world’s second-richest person. Bezos participated in Ula’s Series B funding through Bezos Expedition, the […]

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Hong Kong Stocks On Track For Worst Close In A Year; Hopson Said Buying Evergrande Unit

Billionaire Chu Mang Yee, pictured in 2005, controls Hopson Development, the Chinese developer said … [+] poised to purchase Evergrande Property Services. (Photo by Visual China Group via Getty Images/Visual China Group via Getty Images) Visual China Group via Getty Images Hong Kong’s benchmark stock index ended the morning on track for its lowest close […]

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EV Sales At BYD, XPeng Soar In Sept., Underscoring Strong China Demand

Inside a BYD electric vehicle at Auto Shanghai 2021 in April. Photographer: Qilai Shen/Bloomberg © 2021 Bloomberg Finance LP Sales at two of China’s fastest-growing new energy vehicle suppliers continued a year-long surge in September, underscoring brisk EV demand in the world’s largest auto market. BYD, the Shenzhen-headquartered vehicle and battery maker backed by Warren […]

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Not Raising The Debt Limit Puts $90 Billion For Infrastructure And Other State Programs At Risk

WASHINGTON, DC – Congress could cut spending on schools, health care, and other services if it … [+] doesn’t raise the federal debt limit. Photo by Drew Angerer/Getty Images) Getty Images If Congress fails to suspend or raise the national debt limit, it would have a trickle-down effect that could put nearly a quarter of […]

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Dow Plunges 550 Points As D.C. Uncertainty Fuels Stock Market’s Worst Month Of 2021

Topline Stocks fell sharply Thursday as lawmakers in Washington, D.C., struggled to come to terms on spending measures investors have been anticipating for weeks, with one key Democratic senator saying he’ll only support a massive social spending package encompassing many of President Joe Biden’s policy priorities if the price tag is cut by more than […]

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