There's a battle underway in the surf-side playground of the rich and famous, reports CNBC's Robert Frank.
"I was best friends with my partners for 25 years. I mourn the loss of that friendship," Don Drapkin, the head of Casablanca Capital, said of his former business partner at MacAndrews & Forbes, financier Ron Perelman.
KNTV's Scott Budman, reports Elevation Partners, run by U2's Bono, could make as much as $1.5B on the Facebook IPO; a New York jury has awarded businessman Donald Drapkin $16M in damages, in his lawsuit against billionaire Ron Perelman; and a bankruptcy court gave AMR, the parent company of American Airlines permission to walk away from nine aircraft leases.
The chairman of the House Oversight and Government Reform Committee told CNBC that he wants to know whether political considerations drove the government’s decision to steer a potentially multibillion-dollar contract to a company in which financier Ron Perelman's investment firm has a significant stake.
Financier Ron Perelman’s entry into the smallpox antiviral medicine business has led to a congressional investigation, CNBC has learned.