Monday, November 30, 2009

Mrs. Woods tries to tame a Tiger

Tiger Woods --- the first billion-dollar earning sportsman in the world (estimated by Forbes magazine).

In September of this year, he won the prized FedEx Cup. Besides winning golf tournaments, Tiger has incredible endorsement contracts with companies such as Gatorade, Gillette and Rolex. The most lucrative is with Nike.

Now, as the whole world knows, he is in a Tiger-sized mess. Mrs. Tiger Woods was allegedly trying to brain him with a golf club!

Tiger Woods is probably embarrassed that his wife beat the crap out of him. Police investigation, certainly. TMZ and entertainment shows, heck no!

BTW, by law, Florida law enforcement is required by law in FL to investigate the potential spousal abuse by either party. Could get more interesting.

See you on the course next year Tiger!

Sunday, November 29, 2009

Billionaire John Malone tames his shareholders

'Hey, just buy stock in Liberty and become a billionaire just like me!'

At Liberty Media's special meeting Nov. 19 in New York to approve the spinoff of Liberty Entertainment, Malone fielded a question from an obviously disgruntled shareholder who complained the company was not redeeming fractional shares in the transaction.

Malone at first tried to appease the man by telling him that he would take up his proposal of holding a separate "odd-lot" tender offer with counsel. But the questioner persisted.

So Malone told him that if he had bought Liberty stock when he said he bought it - the questioner he said he originally owned Liberty Satellite stock, which was retired several years ago - and held onto his shares, then he had done "extremely well." The man continued to complain.

"Let me put it this way," Malone said. "I started broke and I'm now a billionaire. And I never sold any shares."

Thursday, November 26, 2009

Facebook strategizes pre-IPO


Facebook Inc. took steps to solidify the control of founder Mark Zuckerberg and other existing shareholders in the event the social-networking company goes public.

The closely held Silicon Valley firm, emulating one of Google Inc.'s well-known strategies, established a dual-class stock structure that would increase the voting power of Mr. Zuckerberg, who is the company's chief executive, and other existing shareholders if they hold onto their shares during an IPO.

WSJ article

Thursday, November 19, 2009

India remains billionaire friendly

India’s billionaire list doubles

Reliance Industries chairman Mukesh Ambani is once again the wealthiest person in India. The net worth of the promoter of the largest listed Indian company is put at $32 billion, an increase of 54 per cent from nearly $21 billion last year, according to a Forbes report.

“Trailing behind him are Lakshmi Mittal (Arcelor Mittal) with a net worth of $30 billion, up 46 per cent from $20.5 billion, and Mukesh’s estranged brother, Anil Ambani, whose net worth of $17.5 billion, 40 per cent, higher than before, put him in third place,” it said. A rebounding stock market that gained two-thirds in the past year and an economy growing at 6 per cent have boosted the net worth of India's richest people. The combined net worth of India’s 100 richest people is $276 billion, almost a quarter of the country’s GDP.

“Last year, there were only 27 billionaires on the India Rich List. This year, the number has almost doubled to 52 — just two short of what India had at the peak of the stock market boom in 2007,” according to the Forbes report.


Wednesday, November 18, 2009

Warren Buffett gets bullish on select stocks

Still heavy with billions in corporate cash, Berkshire Hathaway and Warren Buffett have added the following positions to the portfolio:



Friday, November 6, 2009

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


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

Thursday, November 5, 2009

Carl Icahn continues to mint money

Icahn Enterprises 3rd-quarter profit quintuples

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.


Wednesday, November 4, 2009

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.


Tuesday, November 3, 2009

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'

Monday, November 2, 2009