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Millionaires & Billionaires Billionaires

  • July 27- Billionaire investor William Ackman is buying a large stake in Automatic Data Processing Inc, two people familiar with the matter said on Thursday, a move that sent the U.S. payroll company's stock up 16.5 percent to a record high. His hedge fund Pershing Square Capital Management has been building a position in ADP using money raised recently for a new...

  • NEW YORK, July 27- CVR Refining racked up its highest-ever bill to meet U.S. biofuel standards during the second quarter, putting it on track to pay a record amount in 2017, the company said in an earnings call on Thursday. The refiner, which is majority-held by billionaire investor Carl Icahn, said it paid $106 million to meet the U.S. biofuel regulations in the...

  • Billionaire investor calls out 'questionable' SoftBank fund fueling possible tech bubble

    Marks says the new fund is emblematic of an overheated market.

  • July 27- Billionaire investor Bill Ackman's Pershing Square Capital Management has built a stake in business outsourcing company Automatic Data Processing Inc, Bloomberg reported on Thursday. ADP's shares rose as much as 12.3 percent to a record high of $118.96. Ackman has already bought shares in ADP and could acquire more through the new funds he filed...

  • NEW YORK, July 27- Famed Las Vegas sports gambler William "Billy" Walters was sentenced on Thursday to five years in prison, following his April conviction in one of the highest profile U.S. insider trading trials in years. District Judge Kevin Castel in Manhattan pronounced the sentence. The case has drawn more attention because of Walters' dealings with...

  • Here’s how Amazon stock made Jeff Bezos the world’s richest man

    Surging Amazon stock has pushed Jeff Bezos' net worth over $90 billion. Here’s a look back at its rapid rise.

  • Billionaire Marks, who called financial crisis, says 'this is a time for caution' on the markets

    Howard Marks warns his clients to move into lower-risk investments due to "lofty" market valuations.

  • Jeff Bezos tops world's richest list with net worth over $90 billion

    CNBC's Robert Frank reports on how Amazon's Jeff Bezos reached the top of the world's richest person list.

  • Amazon President, Chairman and CEO Jeff Bezos.

    The "Squawk on the Street" crew chats about Amazon CEO Jeff Bezos surpassing Bill Gates as the world's wealthiest man.

  • Billionaire investor Howard Marks says bitcoin is a 'pyramid scheme'

    Howard Marks, who called the dotcom bubble, warns his clients against investing in digital currencies.

  • MOSCOW, July 27- Russia's biggest steelmaker NLMK said on Thursday its second-quarter core earnings increased 31 percent year-on-year, supported by higher prices for its products, but falling short of market expectations. NLMK, controlled by Russian billionaire Vladimir Lisin, said its earnings before interest, tax, depreciation and amortisation totalled...

  • WILMINGTON, Del., July 26- A U.S. bankruptcy judge on Wednesday gave Elliott Management Corp 11 more days to formalize its plans to bid on Oncor Electric Delivery Co before the court approves the $9 billion offer for the utility from Berkshire Hathaway Inc.. Judge Christopher Sontchi of the Delaware bankruptcy court pushed back the hearing for the approval of...

  • OSLO, July 26- Offshore drilling contractor Seadrill again delayed restructuring its $14 billion in debt and liabilities on Wednesday and reiterated that Chapter 11 bankruptcy was likely. Once the biggest offshore rig firm by market value and the crown jewel in the business empire of Norwegian billionaire John Fredriksen, Seadrill shares have fallen 99...

  • OSLO, July 26- Offshore drilling contractor Seadrill delayed the restructuring of its $14 billion in debt and liabilities on Wednesday and reiterated that Chapter 11 bankruptcy proceedings were likely. The crown jewel in the business empire of billionaire of John Fredriksen, has struggled as energy firms have slashed investment due to a more than 50 percent...

  • SAN FRANCISCO, July 25- Silicon Valley baron Elon Musk insulted rival billionaire Mark Zuckerberg on Tuesday, escalating a tech wizard war of words over whether robots will become smart enough to kill their human creators. "His understanding of the subject is limited," Musk said in a tweet about the Facebook Inc founder whose algorithms and other technology...

  • MILAN/ PARIS, July 24- France's Vivendi has tightened its grip on Telecom Italia by removing its CEO Flavio Cattaneo and paving the way for a joint venture between its own pay-TV Canal+ and the Italian group, in a boost to the French firm's ambitions to become a southern European media powerhouse. Telecom Italia said late on Monday after a board meeting that...

  • *Says recently got $300 mln unsecured loan from Morgan Stanley. LONDON, July 24- Chinese conglomerate HNA Group has pushed back against media reports that it faces mounting pressure from bankers and regulators, even as it announced a shareholding shake-up in a bid to quash concerns over its ownership. "I think we are operating our company legally, we have nothing...

  • LONDON, July 24- Music streaming company Spotify is close to agreeing a new licensing pact with Warner Music Inc, the last big music royalty deal it needs before pushing ahead with a U.S. stock market listing, four sources familiar with the situation said. However, the precise revenue split and the size of a potential guaranteed upfront payment to the label, home to...

  • Alexey Reznikovich, VEON's long-serving chairman, will remain on the board as a representative of LetterOne Investment, the company formerly known as VimpelCom said. VEON has expanded the board to make a majority of directors independent of its two main investors, LetterOne Investment, controlled by Russian billionaire Mikhail Fridman and his partners, and...

  • July 24- Privately-owned conglomerate HNA Group, one of China's most aggressive dealmakers, is shaking up its shareholding structure with a new, charitable foundation, part of efforts to quash long-standing concerns over its ownership. As China cracks down on showy overseas ventures and high-profile empire builders, pressure is rising on sprawling,...