December, 2007

Reliance IPO clears regulatory hurdle

December 31, 2007 5:27 pm

India’s largest initial public offering, the planned listing of Reliance Power, has cleared one of its last regulatory hurdles and the stage looks set for another record year of capital-raising ... Read more »

Bloomberg Moves Closer to Running for President

3:21 pm

Buoyed by the still unsettled field, Mayor Michael R. Bloomberg is growing increasingly enchanted with the idea of an independent presidential bid, and his aides are aggressively laying the groundwork ... Read more »

China: second largest billionaire population

1:39 pm

BEIJING, Dec. 31 — The total number of billionaires in China has risen to second place in the world, just behind the US, Yangcheng Evening News reported on Sunday.    The 2007 ... Read more »

American mogul meets with Israeli politician

December 30, 2007 9:18 pm

The wealthiest Jew in the world met with Shas party chairman and Minister of Industry, Trade and Labor, Eli Yishai, as well as with Yisrael Beiteinu party chairman and Strategic ... Read more »

A Hilton in the News (and It’s Not Paris)

Filed under Barron Hilton
8:42 pm

Barron Hilton may well have put a crimp in the party lifestyle of his famous granddaughter Paris — and in the plans of his 22 other grandchildren — when he ... Read more »

Vegas casino billionaire bankrolls the Tories

8:19 pm

A FINNISH billionaire who inherited a fortune from the arms trade and has extensive gambling interests in Las Vegas has emerged as one of David Cameron’s major financial backers. Poju ... Read more »

Mukesh says: RIL to go global

December 29, 2007 8:42 pm

 Billionaire Mukesh Ambani on Friday said Reliance Industries group will emerge as a “successful multinational” by focusing on overseas business. Addressing over 40,000 employees of the group through a web-cast ... Read more »

Out of this world: Branson offers £100,000 ticket to the heart of a space spectacle

8:34 pm

It looks like a cut-price version of the set of a Bond movie. Blocky, 60s-style white consoles face a large wall-mounted video screen, each covered in dials and buttons with ... Read more »

India finishes the year of the billionaires

8:19 pm

India’s growth story of the last 15 years is well known and well recorded. Each of those 15 years has its own stories to tell. This year, 2007, which will ... Read more »

Dubai World Boosts Its Stake in MGM Mirage to 6.5%

December 28, 2007 10:29 pm

Dubai World, the government-owned investment group, bought 5 million shares of MGM Mirage, boosting its stake in the world’s second-largest casino company to 6.5 percent.The holding company now holds 19.5 ... Read more »

Moscow Court Blocks Sale of Norilsk, Polyus Shares

10:06 pm

KM Invest, the holding company controlled by Russian billionaires Mikhail Prokhorov and Vladimir Potanin, was blocked by a court from selling a stake in OAO GMK Norilsk Nickel worth $1 ... Read more »

Ratan Tata turns 70 years old

8:57 pm

  After celebrating his 70th birthday on Friday, Ratan Tata would in the normal course of affairs be facing mandatory retirement from the Tata Group. Two years ago, however, India’s ... Read more »

Bharti to Sell $1 Billion Stake in Unit to Investors

8:53 pm

Bharti Airtel Ltd., India’s largest mobile-phone operator, agreed to sell a $1 billion stake in an infrastructure subsidiary to investors including Temasek Holdings Pte, Goldman Sachs Group Inc., and Citigroup ... Read more »

Thousands Gather for Funeral of Ken Hendricks

8:45 pm

Thousands of people gather in Janesville to pay their final respects to a self-made billionaire. Ken Hendricks, the founder and CEO of ABC Supply Company was laid to rest earlier ... Read more »

Billionaire Buffett to launch bond insurer

8:23 pm

Town governments, school districts and other municipalities looking to borrow money got a new option Friday when trying to insure their bonds: billionaire investor Warren Buffett. Buffett’s formation of a ... Read more »

Malay’s role in forging Middle East ties

5:38 pm

The signing of a big Iranian gas development project involving Syed Mokhtar al-Burkary underscores the role that the influential Malaysian billionaire is playing in helping his country forge business ties ... Read more »

Billionaire Krauze returns to Poland to face prosecutors questions

December 27, 2007 9:24 pm

 Ryszard Krauze, who controls several Warsaw-listed companies, returned to Poland last week to face questions in an investigation related to a political corruption row that led to the collapse of ... Read more »

Lev Leviev to move to London

8:43 pm

Lev Leviev, chairman of Israeli conglomerate Africa Israel Investments and one of Israel’s richest men, is moving to London to focus on his job as chairman at AFI Development , ... Read more »

Joseph Lewis Becomes Largest Bear Stearns Shareholder

December 26, 2007 11:58 pm

Billionaire investor Joseph Lewis raised his stake in Bear Stearns Cos. for the second time this month while shares of the fifth-biggest U.S. securities firm declined.The 70-year-old high-school dropout first ... Read more »

Hilton gives fortune to charity not Paris!

4:44 pm

The Hilton family patriarch, Barron Hilton, will pass on the $1.2 billion windfall from the sale of Hilton Hotels Corporation - not to his famous progeny, but to his ... Read more »

Georgian candidate Patarkatsishvili offers police money to protect protesters

4:39 pm

Georgian presidential candidate billionaire Badri Patarkatsishvili said that he had offered police a lot of money not to use force against protesters.  After the statement Georgian prosecutors accused him of ... Read more »

Berkshire to Pay $4.5 Billion for Pritzkers’ Marmon

4:31 pm

Billionaire Warren Buffett’s Berkshire Hathaway Inc. will pay $4.5 billion for 60 percent of Marmon Holdings Inc., adding another family run company that prospered without shareholder demands for short-term profits.Chicago’s ... Read more »

Pro-Thaksin party looks set to run Thailand

4:28 pm

Slowly but it seems surely, the party backing ousted prime minister Thaksin Shinawatra is shaping up to form Thailand’s next government, a stunning reversal of fortune after last year’s military ... Read more »

An Italian affair with ties to Clintons

Filed under Ron Burkle
December 25, 2007 10:02 am

Charming Italians who parlay supposed Vatican ties into financial gain are nothing new. When I was a correspondent in Italy in the 1980s, Roberto Calvi played that game. He ended ... Read more »

Polls: Thaksin allies win in Thailand

December 23, 2007 10:01 am

The People Power Party (PPP), a vehicle for supporters of ousted Prime Minister Thaksin Shinawatra, won the most seats in Sunday’s Thai election, two exit polls said. However, they differed ... Read more »

Tycoon tells of plot to kill him in London

9:56 am

 businessman living in Britain fears he has been targeted in an assassination plot being planned in the former Soviet republic of Georgia.Badri Patarkatsishvili, Georgia’s richest man who is running for ... Read more »

CERBERUS VICTORIOUS

December 22, 2007 9:57 pm

Hedge fund Cerberus Capital Management, run by secretive billionaire Stephen Feinberg, won a heated lawsuit in a Delaware court yesterday that allows it to walk away from its $7 billion ... Read more »

Redstones’ family feud cools off

9:20 pm

 While it remains unknown whether Shari Redstone will succeed her father, Sumner Redstone, as chairman of Viacom and CBS, she is stepping up at Chicago-based Midway Games, the struggling video-game ... Read more »

Toys for the boys are not enough for time-pressed billionaires

Filed under Lifestyle
5:40 pm

Entrepreneurs, sports stars and foreign billionaires are spending more than ever on luxury services. Private banks and wealth managers say clients are moving beyond traditional luxury goods in search of ... Read more »

Billionaire dies after fall through roof

3:49 pm

  A high school dropout who became a billionaire roofing company executive and one of the nation’s richest people died Friday after falling through his garage roof. Ken Hendricks, who ... Read more »

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