New York City tries to steal millions in "back taxes" from hedge fund manager

By LAURA SAUNDERS

What a difference four days can make.

Billionaire Julian Robertson won a $27 million tax case after he successfully argued that he wasn't a New York City resident for the year 2000 and didn't owe city taxes.

At issue was Mr. Robertson's whereabouts on four days during that leap year: April 15, July 23, July 31 and Nov. 16. The other 362 days were accounted for, with documentary proof of 183 days spent in the city and 179 spent outside. The New York State Department of Taxation and Finance argued that because he didn't have documentary proof for the four days, he was therefore a resident and owed city taxes of $26,792,341.



WSJ article

Carl Icahn continues to mint money

Icahn Enterprises 3rd-quarter profit quintuples

(AP) – today

NEW YORK — Billionaire Carl Icahn's investing vehicle Icahn Enterprises LP on Thursday said its third-quarter profit nearly quintupled as revenue shot higher and expenses declined.

The company reported profit for the three months ended Sept. 30 of $110 million, or $1.39 per unit, up from $23 million, or 32 cents per unit, in the year-ago period.

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Warren Buffett adds a railroad to the portfolio

You may not be ready to bet on the U.S. economic recovery, but Warren Buffett sure is.

The billionaire made a splash Tuesday when his investment firm, Berkshire Hathaway ( BRK - news - people ), announced a deal to take over railroad operator Burlington Northern Santa Fe ( BNI - news - people ). The cash-and-stock deal is worth $100 a share for the 77.4% of the company Berkshire didn't already own, for a price tag near $34 billion.


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Al Gore: Is he a carbon billionaire???

Al Gore, founder of the internet, former vice-president of the United States, and now green (monetarily) beyond belief.....

Has everyone asking: is he a carbon billionaire and are you ok with that???

article: Al Gore denies he is 'carbon billionaire'

T Boone Pickens still likes HIS PLAN!!!

Life is just a circus for Canadian billionaire Guy Laliberte

Canadian space tourist Guy Laliberté gives a thumbs up after landing with the Soyuz spacecraft crew in Kazakhstan. Photograph: Yuri Kochetkov/AFP/Getty Images



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Mark Cuban: I'm not so against steroids

Dallas Mavericks billionaire owner Mark Cuban on the NBA's steroid policy:

"I'm not so against steroids," Cuban said, pausing to a roomful of laughter, "if it's administered under the proper supervision."


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