Summertime for Billionaires

Dealbreaker today reminds us in Where Wall Street Summers that billionaires such as Henry Kravis and Pete Peterson will soon be heading up the coast to the east end of Long Island for a little billionaire R&R. Enjoy guys.

For you old timers, this is how daybreak on the island looked to Gordon Gekko many years ago. "Money never sleeps, pal."

Jerry Yang Continues to Hate Microsoft and Yahoo! shareholders. The end.

As reported on ThinkBillion$ here, here, and here, Boy Billionaire, Yahoo! co-founder, and Microsoft hater Jerry Yang has now totally and officially jumped the financial shark with his rejection of any and all things Microsoft.

The only thing we could approriately conclude with here is with Michael Arrington's piece in TechCrunch, ("Massive Destruction Of Shareholder Value, Employee Morale and Internet Balance Of Power") reporting the whole affair this way: "I don’t believe that there is anything Yahoo could do at this point to further destroy their business that would surprise me."

YHOO ended today's trading at $23.47 a share, down 5 cents.


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WSJ: Microsoft Studies Strategy as Yahoo Talks End

Eike Batista Brings it in Brazil

This week in Brazil, Eike Batista, bet a couple of his millions and several of Brazil's investing public billion's that OGX Petroleo e Gas SA, and its undersea leases off the coast, will yield a gusher. Thursday's initial offering of oil venture OGX Petroleo e Gas SA raised nearly $3.6 billion, the exchange's biggest IPO.

Eike, a self-made billionaire in the gold and iron mining sector, is now making this big bet in the oil industry. It is a story and entrepreneur to closely follow.

His friends call him "a serial entrepreneur doings things on a massive scale." (WSJ 6/12/08).





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Eike Batista ranks 142 on The World's Billionaires 2008

Brazil's Batista Is `Creator of Wealth,' Turning Gold Into Iron

Eike Fuhrken Batista, Founder, Chairman of the Board and CEO of EBX,MMX Mineração e Metálicos S.A.,

Fast Eddie Lampert bets on a housing rebound

Edward S. Lampert, last mentioned here at Think Billion$ during the Sears meltdown, has been profiled today by the Wall Street Journal (WSJ, June 12, 2008, p. C4) for his new bets on the housing sector.

Eddie has recently added the following stocks to his ESL Investments, Inc. portfolio; which owns half of Sears and 40% of AutoNation. As a public service to our readers, here's what Eddie likes:

CIT Group
Centex
Home Depot
KB Home
PHH

And remember, buy low and sell high (except when shorting). Good luck and happy investing!


update -

I just noticed this YouTube video posted on Dealbreaker. Can you spot Eddie???

Steve Ballmer of Microsoft is "The World's Hardest-Working Billionaire"

According to Forbes Magazine .....

Ballmer has been working especially hard this year to revamp Microsoft and make it more competitive with tech's new "it girl," Google (nasdaq: GOOG - news - people ). The major battle is for online search advertising, which the Internet king all but created--and dominates.

Ballmer will go to any length to sell a product, and doesn't worry about looking like a fool. In public appearances, he jumps and screeches like a monkey, drenches himself in sweat and sticks out his tongue when he's really pumped up about something.

Update -

WSJ: Gates-Ballmer clash

Billionaire Proxy Battle: Icahn vs. Yang

NEW YORK (Reuters) - Billionaire investor Carl Icahn will seek to remove Jerry Yang as chief executive of Yahoo Inc (YHOO.O) if Icahn succeeds in a proxy battle against the company over its failure to reach a deal with Microsoft Corp (MSFT.O), The Wall Street Journal reported on Tuesday.

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