The acquisition is said to be one of the billionaire's top three holdings, reports CNBC's Scott Wapner.
Wendi Deng has hired the well-known New York attorney William Zabel to represent her in her divorce from Rupert Murdoch, CNBC has learned.
Dutch telecom group KPN's main shareholder America Movil has ended an agreement to limit its holding to below 30 percent, a sign it may bid for the whole company.
It's hot in the Hamptons this summer! Real estate sales shot up 23% in the second quarter, topping $1 billion.
Slowing economies in places like China and Brazil are weighing on the real estate market as foreign purchases of U.S. property slowed in the 12 months ended in March, a new report said.
Everyone has their own definition of what it means to be rich, but a new study from UBS has a cold, hard answer: $5 million—with at least $1 million of that in cold, hard cash.
Last month, a wealthy Middle Eastern family paid $500,000 to charter a private jet. What was unusual was the way the family booked: through an Iphone app.
Summertime seems to bring out a rash of "fantasy" products for the super-rich—crazy trophy toys that are either too crazy or cutting-edge even for today's super-rich. A look at three of the best we've seen.
CNBC's Kate Kelly provides a preview of CNBC's "Delivering Alpha" conference tomorrow in New York City. Today, a look at why hedge fund billionaire John Paulson is getting bullish on housing.
The few who can afford to shell out tens of millions for an apartment in one of the new condominiums being built across New York City may find a perk in real estate tax breaks, the New York Times reports.
In a video clip for an online course on philanthropy, Warren Buffett says he follows Adam Smith's division of labor. "I make it and somebody else gives it away."
A 1954 Mercedes Benz Formula One racer just became the most expensive car ever sold at auction, having fetched $29 million.
Many banks have a special women's outreach programs, to get a piece of the growing wealth controlled by women, but how much wealth will there be? That's the tough part.
You wouldn't know it from looking at all of the glass towers going up across Manhattan, but the city is running out of penthouses and other ultra-luxury apartments, and what's on the market may be overpriced.
The price of buying a Patek Philippe, employing a housekeeper or getting a Botox treatment in London outpaced overall inflation in 2012.
The annual Giving USA report shows charitable giving rose 3.5 percent last year to a record high. However, when adjusted for inflation, the 2012 total is still well below the 2007 giving total.
Despite market turmoil over the Federal Reserve's indication that it could start tapering its bond buying program, billionaire investor Alisher Usmanov told CNBC that it would play a "positive" role for markets.
To meet China's demand for luxury goods, Chinese billionaire Wang Jianlin plans to invest $1.6 billion on a yacht maker and a London hotel.
The world's second-wealthiest man explains to CNBC why workers in Europe and other parts of the developed world are at the "best" part of their career after they reach their 60s.
In an exclusive interview with CNBC, the man at the center of an insider-trading probe, former KPMG auditor Scott London, said he received about $70,000 in kickbacks.