Millionaires & Billionaires Billionaires

  • Aug 3- Atlantic City's Trump Taj Mahal casino, owned by Carl Icahn, will close at the end of the summer, the billionaire investor's company said on Wednesday. The board of the Taj and Icahn Enterprises "cannot just allow the Taj to continue burning through tens of millions of dollars when the union has single handedly blocked any path to profitability."

  • Aug 3- Herbalife Ltd's quarterly sales rose 3.4 percent, helped by higher demand for its weight management and targeted nutrition products in North America and Europe, Middle and Africa. The company's worldwide net sales rose to $1.20 billion in the second quarter ended June 30 from $1.16 billion, a year earlier. Herbalife reported a net loss of $22.9 million or...

  • Aug 3- Atlantic City's Trump Taj Mahal casino, owned by billionaire investor Carl Icahn, will close after Labor Day at the end of the summer, the company said on Wednesday. Closure of the casino, which is in the midst of a labor strike by its unionized workers over wages and health insurance costs, would be another big blow to the struggling New Jersey coastal city.

  • MONTREAL, Aug 3- Irving Oil said on Wednesday it agreed to buy Ireland's only refinery from Phillips 66, a deal that will extend the Canadian company's reach across the Atlantic. The value of the deal, expected to close by the end of the third quarter, was not disclosed in a news release from Irving, which operates Canada's largest refinery in the province of New...

  • LONDON, Aug 3- A consortium led by private equity firm Apollo Global Management has emerged as the frontrunner for Anglo American's metallurgical coal mines in Australia, valued at up to $1.5 billion, two sources familiar with the matter told Reuters. Anglo American, like its peers, is selling off prized assets after a prolonged commodities rout that has left it...

  • WASHINGTON, Aug 2- Calling Donald Trump an "authoritarian character" and a threat to democracy, Meg Whitman, a prominent Republican fundraiser and chief executive of Hewlett Packard Enterprise, endorsed Democrat Hillary Clinton's White House bid late Tuesday. Donald Trump's demagoguery has undermined the fabric of our national character, "Whitman posted on...

  • Aug 2- American International Group Inc, the largest commercial insurer in the United States and Canada, reported an operating profit that beat analysts' estimate, driven by lower costs and strong underwriting during the quarter. AIG, which was under fire from activist investor Carl Icahn to split into three independent companies, agreed to add billionaire...

  • Aug 1- Carl Icahn's Icahn Enterprises LP said on Monday that the billionaire investor's son, Brett Icahn, and David Schechter were no longer co-managers of the Sargon Portfolio, and would instead stay on as consultants for now. Brett Icahn and Schechter have been co-managing the portfolio since April 2010 and Icahn Enterprises said Monday their co-manager...

  • NEW YORK, Aug 1- Gawker Media Chief Executive Nick Denton filed for personal bankruptcy protection on Monday, according to court documents that name his largest creditor as Hulk Hogan, a former professional wrestler who won a $140 million court judgment against the news website over a sex tape it posted. Denton listed assets of $10 million to $50 million and...

  • Aug 1- Gawker Media Chief Executive Nick Denton filed for personal bankruptcy protection on Monday, according to court documents that named his largest creditor as Hulk Hogan, a former professional wrestler who won a $140 million court judgment against the website over a sex tape. Denton listed assets of $10 million to $50 million and liabilities of $100...

  • Aug 1- Gawker Media founder and CEO Nick Denton will file for personal bankruptcy protection as early as Monday after losing a fight in a Florida court for a shield against a judgment in a breach of privacy case involving professional wrestler Hulk Hogan, according to a person familiar with the matter. Gawker Media filed for bankruptcy in June after Hogan won a...

  • Aug 1- Gawker Media founder and CEO Nick Denton will file for personal bankruptcy protection as early as Monday after losing a fight in a Florida court for a shield against a court ruling in a breach of privacy case involving professional wrestler Hulk Hogan. The source asked not to be identified because Denton has not commented on his plan.

  • Elon Musk

    Tesla Motors said it would buy solar panel installer SolarCity for $2.6 billion in shares to form a one-stop clean energy shop.

  • Combining the clean energy car maker with the solar panel installer is a major part of billionaire Elon Musk's strategy, who earlier in July unveiled his master plan "part deux" that calls for the combined company to offer consumers a single source of hardware to power a low-carbon lifestyle. Tesla and SolarCity, which have market capitalizations of $34.6...

  • Combining the clean energy car maker with the solar panel installer is a key pillar of billionaire Elon Musk, who earlier in July unveiled his master plan "part deux" that calls for the combined company to offer consumers a single source of hardware to power a low-carbon lifestyle. Tesla and SolarCity, which have market capitalizations of $34.6 billion and $2.6...

  • July 31- Tesla Motors Inc and SolarCity Corp could announce they have agreed to merge as early as Monday, according to people familiar with the matter. While billionaire Elon Musk is chief executive of Tesla, chairman of SolarCity and the biggest shareholder in both companies, a merger agreement was not certain because SolarCity had formed a special committee...

  • *Jaona Investment takes 6.55 pct stake. DUBAI, July 31- Billionaire Dubai businessman Mohamed Alabbar led two investor groups that recently bought a combined 16.45 percent stake in Dubai- based courier Aramex, a source familiar with the matter said. Aramex said earlier on Sunday in a bourse filing that its founder Fadi Ghandour had sold his 9.9 percent stake held...

  • HONG KONG, July 30- Fosun Group said on Saturday it has agreed to buy Brazilian fund manager Rio Bravo Investimentos, in the Chinese conglomerate's first acquisition in Latin America. Fosun did not disclose the value of the deal, but said in a statement that it expects to take advantage of the "exceptional period of change and economic renewal" taking place not only...

  • Bezos passes Buffett as world's third-richest person

    Amazon CEO Jeff Bezos claims the title as the third-wealthiest person in the world with a fortune of $65.3-billion.

  • July 28- Oracle Corp said on Thursday it would buy NetSuite Inc for about $9.3 billion, a deal that gives it a bigger share in the fast-growing cloud computing business and also means a big payday for billionaire Larry Ellison. "People care when someone makes the wrong decision," said Kevin McManus, vice president of Egan-Jones Proxy Services.