September, 2008

Mexican billionaire, Bangladeshi Nobel Prize winner to offer microcredits to Mexico’s poor

Filed under Projects, Carlos Slim Helu - Americas Movil
September 30, 2008 7:01 pm

Mexican billionaire Carlos Slim and Bangladeshi Nobel Prize winner Muhammad Yunus are joining forces to offer credit to poor people in Mexico.Slim and Yunus are creating Grameen-Carso, a lending institution ... Read more »

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Gorbachev launches political party with Russian billionaire

Filed under Politics, Alexander Lebedev
6:59 pm

The former Soviet leader, Mikhail Gorbachev, is to launch a new political party with a Russian billionaire, Alexander Lebedev. Lebedev, a businessman and banker whose company, National Reserve Corps, controls ... Read more »

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Billionaire Pinchuk Buys Hirst Works

Filed under Art, Victor Pinchuk - EastOne
6:56 pm

Steel billionaire Victor Pinchuk said he was one of the buyers of Damien Hirst’s works at a Sotheby’s auction in London earlier this month. Pinchuk spoke in an interview as ... Read more »

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Valley billionaire launches rocket into orbit

Filed under Projects, Elon Musk
September 29, 2008 7:56 pm

On its fourth attempt to reach orbit, the Falcon 1 rocket launched by Space Exploration Technologies Corp., the company founded by PayPal founder and Tesla Motors chairman Elon Musk, reached ... Read more »

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Naomi Campbell to change her faith to marry Russian billionaire

Filed under Romance, Vladislav Doronin
7:53 pm

British supermodel Naomi Campbell is ready to change her religion. The Black Panther made up such a decision for the sake of her wound-be husband, one of the world’s wealthiest ... Read more »

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Flowers Raising $2.5 Billion to Buy Financial Assets

Filed under Projects, J.C. Flowers
September 28, 2008 7:14 pm

J.C. Flowers & Co. has raised $2.5 billion from investors for a buyout fund that will target banks and other financial firms crippled by the global credit contraction, two people ... Read more »

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Wyly’s advice : Overcome Your Setbacks

Filed under How to succeed advice, Sam Wyly
September 27, 2008 6:58 pm

“First you hurt and you lick your wounds,” Wyly told IBD. “Then you get up and say it’s a new day.” Switch it up. Wyly’s next company, oil refiner and ... Read more »

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Billionaire Eli Broad on the Bailout

Filed under Eli Broad, Predictions, Interviews
3:13 pm

BusinessWeek  spoke with Broad, who made his fortune in real estate and insurance, largely through holdings in American International Group about the $700 billion Wall Street bailout and where he ... Read more »

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Greenberg Sells 40 Million AIG Shares loosing $3 billion

Filed under failures, Maurice ``Hank'' Greenberg - AIG
September 26, 2008 8:55 pm

Maurice “Hank” Greenberg, the former chief executive officer of American International Group Inc., sold off 40 million shares of the insurer for about $125.9 million after the stock tumbled more ... Read more »

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TPG’s Bank Bet Goes Awry as WaMu Costs $1.3 Billion

Filed under failures, David Bonderman - TPG
8:52 pm

TPG Inc. lost $1.3 billion with yesterday’s seizure by regulators of Washington Mutual Inc., showing why most private-equity firms won’t come to the rescue of the nation’s troubled banks.“For a ... Read more »

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Soros: Paulson cannot be allowed a blank cheque

Filed under George Soros - Soros Fund Management
September 25, 2008 9:53 pm

Hank Paulson’s $700bn rescue package has run into difficulty on Capitol Hill. Rightly so: it was ill-conceived. Congress would be abdicating its responsibility if it gave the Treasury secretary a ... Read more »

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Treasury Will Make a Profit On Bailout: Pimco’s Gross

Filed under Predictions, Bill Gross - Pimco
September 24, 2008 7:14 pm

Bill Gross, co-chief investment officer of bond manager Pimco, said he believes that the Treasury Department will eventually make a profit on its purchase of toxic assets from Wall Street ... Read more »

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Pickens Funds Down About $1 Billion

Filed under Hedge funds, T. Boone Pickens - BP Capital
6:57 pm

Lately, T. Boone Pickens would get better marks as a policy advocate and author than an energy investor. The 80-year-old Texas oil magnate has bankrolled a massive public campaign for ... Read more »

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Warren Buffett Explains His $5B Goldman Investment

Filed under Deals, Investigations & Law, Warren Buffett - Berkshire Hathaway
6:51 pm

Warren Buffett was interviewed live by telephone on CNBC’s Squawk Box this morning about his surprise investment of at least $5 billion in Goldman Sachs BECKY:  Does the backdrop of ... Read more »

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Buffett Buys Goldman Sachs Stake in `Economic Pearl Harbor’

Filed under Deals, Warren Buffett - Berkshire Hathaway
5:51 pm

Billionaire investor Warren Buffett, who tells investors to be “greedy when others are fearful,” put up $5 billion for Goldman Sachs Group Inc. after the firm lost 40 percent of ... Read more »

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Beauty and the Billionaire: Murder Suspect Speaks Out

Filed under Investigations & Law, Hisham Talaat Mustafa
September 23, 2008 8:59 pm

This week, Mustafa released an emotional letter from his prison cell to state-owned newspaper Akhbar el Youm. In it he declared his innocence and denounced his accusers. “How could I ... Read more »

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Bloomberg to become economic czar?

Filed under Michael R. Bloomberg, Politics
8:53 pm

Mayor Michael Bloomberg has suddenly managed to make speculation about his future look like a tug of war — stay four more years and guard the city against financial ruin ... Read more »

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Paranoid’ Mall Baron Lowy Anticipated Slump, Now Fights Taxman

Filed under Profiles, Investigations & Law, Predictions, Frank Lowy - Westfield Group
8:45 pm

Billionaire Frank Lowy, Holocaust survivor, one-time Israeli commando and now the world’s biggest shopping mall landlord, raises his hand to his forehead to indicate a shrapnel scar hidden beneath a ... Read more »

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Harbinger Falls 12% in September, Erasing Most Gains in 2008

Filed under Hedge funds, Philip Falcone - Harbinger Capital Partners
8:43 pm

Harbinger Capital Partners Fund, run by Philip Falcone, has given up most of the 42 percent gain it posted in the first half of the year amid losses on energy ... Read more »

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Amway co-founder DeVos suggests Wall Street say ‘I’m sorry’

Filed under Richard DeVos - Amway
8:41 pm

Amway co-founder Rich DeVos has a little advice for those who caused the recent upheaval on Wall Street: Admit you were wrong and say, “I’m sorry.”The billionaire entrepreneur’s comments came ... Read more »

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