Carl Icahn wants more of Biogen

Billionaire investor Icahn targets Biogen Idec again

Billionaire activist investor Carl Icahn is continuing to put pressure on Cambridge biotechnology giant Biogen Idec.

For the second year in a row, Icahn nominated several directors to sit on Biogen Idec's board. This year, he nominated directors to fill four of the board's 13 slots, the company announced this morning.

If successful, the slots would give Icahn a powerful platform to push for changes in the company, including a possible sale of the firm.


Boston Globe article

Billionaires and sports

Well, we have written about billionaires and sports from time to time here at Think Billion$.

So just today, we bumped into an interesting article about mostly NFL and NBA billionaires and how they got to where they are today. For instance, the NFL's Malcolm Glazer got started as an owner of Florida trailer parks.


read>>> How to be a billionaire sports team owner

A Billionaire Family Shares its Rules

The 3 Investing Rules of a Billionaire Family

James Tisch, the current CEO, recently discussed the guiding principles on which Loews was built in a Motley Fool article.

No, the first rule isn't to avoid giving money to Bernie Madoff.

The Top 5 bad billionaires for the year 2008

Here at Think Billion$, we've been doing some thinking and serious research. The outcome of which is our First Annual "The Top 5 bad billionaires for the year 2008" list. How about that?

So here's the list and let us know what you think:


1. Jim Clark, the Silicon Graphics founder and serial entrepreneur for being bad in a good way!!?? It was discovered that Jim, 64, has inked Australian super-model Kristy Hinze, 28, to a term sheet as wife number four. You rascal, Jim. Best of luck to both of you from Think Billion$.

2. Donald Trump, for insisting he is still a billionaire, when he is not. And even suing the newspaper reporter for discovering it. Bad form Donald. Very bad.

3. Mark Cuban, for being Mark Cuban, for getting tangled up with the SEC and for thinking that he could buy the Chicago Cubs, and for being Mark Cuban.

4. Jerry Yang, for not maximizing Yahoo shareholder value while the money was on the damn table, Jerry!

5. Michael Bloomberg, for not respecting motherhood in the office and for appointing himself King of New York City.

Happy New Year to one and all!!!

Jeff Bezos and Amazon Win the Holiday Season Again

Amazon and billionaire Jeff Bezos once again prove they know how to get business done and that they have a sustainable business model no matter what the macroeconomic conditions deliver.

Amazon once again added to its market share and has enjoyed a wonderful holiday season sales-wise. Amazon announced its 14th record holiday season, with 72.9 items ordered every second, up from 62.5 last year. Amazon has proven once again that what really counts is revenues and profits.

Congratulations to Jeff Bezos and the Amazon.com gang!

French L'Oreal billionaire Bettencourt takes a big financial hit from Madoff

The fortune of billionaire heiress Liliane Bettencourt, the world's richest woman, may have had significant investment exposure to Wall Street fraudster Bernard Madoff.

Liliane Bettencourt is the principal shareholder of L'Oreal, one of the world's leading cosmetics and beauty companies.

In an unrelated story, Bettencourt announced this month that: "... she would never see her daughter again as a family dispute over allegations that she had been abused by a photographer friend reached new depths."

Bill Gates and friends go zoom zoom

Billionaire investors Bill Gates and Edward S. Lampert are increasing their stakes in AutoNation Inc.

According to recent filings with the SEC, the two investors have accumulated more than 57% of the Fort Lauderdale, Fla.-based car dealer’s shares.

Casino billionaires crap out in Las Vegas

The casino empires are still in place for Nevada gaming moguls Sheldon Adelson and Kirk Kerkorian.

However, that doesn't mean both billionaires are going to have a Merry Christmas.

Forbes magazine has placed both Adelson and Kerkorian at number one and number four, respectively, on their list of America's Biggest Billionaire Losers Of 2008.

The Censorship of Nicole Buffett

Nicole Buffett, granddaughter of billionaire Warren Buffett, bumped up to #1 in popularity for several hours today on the Google Trends list. And, why not, Warren Buffett is #1 on his list too - it simply runs in the family.

So why all the interest in the young and pretty Nicole Buffett???

Well it is the story of her documentary appearance saying things that Warren Buffett simply didn't believe should be revealed or said by proper young ladies like Nicole. Warren even wrote her a letter! Nicole has said publicly that: “I’ve been very blessed to have my education taken care of, and I have had my living expenses taken care of while I’m in school”..... and other such things. Goodness.

According to Warren Buffett, Nicole must be the type of granddaughter that should be seen and not heard.

Mark Zuckerberg is now the formerly "Youngest Billionaire In World History"

Henry Blodget, in this week's Silicon Valley Insider, writes how Mark Zuckerberg, through no fault of his own, is now the guy who used to be the "Youngest Billionaire In World History."

According to the never-wrong Wikipedia, Forbes recently declared Facebook founder Mark Zuckerberg "possibly the youngest self-made billionaire ever." That was before this year's stock market crash.

A billion dollar Ponzi scheme

When friends and family are gathered together for the holidays this month, one of the little children may come up to you and ask the following probing question:

"What's a Ponzi scheme?"

Since you visited the Think Billion$ blog today, you'll have the answer. Not only a answer, the answer, since it is an SEC approved answer.

According to the Securities and Exchange Commission: "Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s."

So, that is the textbook definition of a Ponzi scheme. Not answered, of course, is why Bernard Madoff did it. Will we ever truly know?

Interestingly, billionaire bad boy Mark (Momma) Cuban, has repeatedly called the stock market a Ponzi scheme over the years.

Twice as interesting is the fact that both Bernie Madoff and Mark Cuban are now in trouble stock market-wise, SEC-wise and otherwise this year.

Dick Fuld 2.0

Dick Fuld? You mean that Dick Fuld?

Yes, according to the Financial Times today, Dick Fuld is planning a comeback.

Dick "what-the-hell-did-I-do-wrong?" Fuld. Dick, the NYU MBA, Fuld. Dick, who's employees playfully called him The Gorilla, Fuld. Dick, the guy who used to own Lehman shares valued over a billion, Fuld.

Yeah, that Dick. Former billionaire on the comeback trail.

Here's the FT comeback story: Fuld weighs comeback with advisory boutique.


Hey, Dick, David Einhorn was right:


Fooling Some of the People All of the Time: A Long Short Story

Hey, Jerry Yang, this one is on YOU!

Yes, you Jerry!

And some people actually think that maximizing shareholder value is a bad thing. That crappy, brain dead executive management doesn’t matter. That washed up, co-founders of a company actually care about their employees.

No, Jerry, this is what happens when you really, really, screw it all the hell up!!!


Yahoo begins telling workers who's being laid off

Virgin America adds Boston to the route structure

Virgin America adds Boston to the route structure


How many billionaires own an airline? Answer – very few. Richard Branson is one of them.

This week Virgin American announced that it will be adding daily service to Boston’s Logan International Airport from the West Coast in February 2009. Chicago will wait.

We will keep you informed of when Virgin America will begin service in a city near you.

Aricle - Virgin America

Sam Zell's diversification plan outside of real estate comes up short

Sam Zell's Tribune Co., which owns the Chicago Tribune, the Los Angeles Times, other daily newspapers and media properties — filed for Chapter 11 bankruptcy protection this week.

As we now know, Sam Zell's diversification plan outside of real estate didn't work out, nor did his frantic search for more revenue for his newspapers.