A handful of American finance and tech tycoons are gearing up for multi-billion bids to buy TikTok after President Joe Biden signed an act which will force its Chinese owners to sell the app. The Wall Street and Silicon Valley figures are led by Steven Mnuchin, the former treasury secretary who has openly said he … Read more
Whitney Wolfe Herd, the millionaire founder of dating app Bumble, won the top prize for Bloomberg’s men’s March Madness charity challenge by impressively picking 43 of 63 games accurately. Her bracket picks included correctly choosing the entire Midwest region, and betting that the University of Connecticut would beat Indiana’s Purdue University in Monday’s match-up. UConn, … Read more
Musk got Zucker punched. Mark Zuckerberg slid into third place on the Bloomberg Billionaires Index on Friday — surpassing his rival, Elon Musk, for the first time in four years. Zuckerberg, 39, added $58.9 billion to his net worth this year as Meta Platform Inc. soared to new heights, Bloomberg reported. The 52-year-old Musk, on … Read more
Adam Neumann, WeWork’s disgraced billionaire founder, has reportedly spent the past several months trying to buy back the bankrupt co-working giant after being ousted as its CEO five years ago. A team of lawyers led by Alex Spiro of Quinn Emanuel — who also represents Elon Musk and Jay-Z — penned a letter earlier reported … Read more
Bill Ackman’s Pershing Square Capital Management has reclaimed a spot on the list of the world’s 20 best-performing hedge funds nine years after falling out of the ranking. Pershing Square claimed the 20th spot after edging out Louis Bacon’s Moore Capital Management, according to research by LCH Investments. LCH said that the New York-based fund, … Read more
The leader of a Silicon Valley-backed proposal to create a new city on a massive plot of barren California farmland insisted the project’s billionaire backers are “not at all” worried about the public outrage the secretive project has provoked. A group of elite tech investors including Marc Andreesen, Reid Hoffman and Laurene Powell Jobs, have … Read more
Françoise Bettencourt Meyers was already the richest woman in the world, but on Thursday, she hit a new milestone—the first female to accumulate a staggering fortune of over $100 billion ($100.2 billion, to be exact), according to the Bloomberg Billionaires Index. Bettencourt Meyers, the granddaughter of L’Oreal founder Eugène Schueller, is the vice-chair of L’Oréal’s … Read more
Google co-founders Larry Page and Sergey Brin have kept a low profile as the Big Tech firm weathers a series of critical antitrust court battles – and it’s part of a long-running pattern of avoiding federal scrutiny, experts say. The search giant is reeling after a shocking court loss to “Fortnite” maker Epic Games that … Read more
Billionaire hedge fund manager Bill Ackman called out the New York Times for publishing a “false and misleading” story about why he’s been outspoken about on-campus antisemitism at Harvard. The Times article published Tuesday, headlined “Bill Ackman’s Campaign Against Harvard Followed Years of Resentment,” reported that Ackman’s campaign to oust university President Claudine Gay has … Read more
The slick executive leading a Silicon Valley-backed plan to build a utopian city on California farmland reportedly compared to a “snake oil salesman” by angry local residents during a heated town hall meeting about the controversial project. Jan Sramek, the 36-year-old head of “California Forever” and its subsidiary Flannery Associates, faced skepticism and scorn from … Read more
