Daily Billionaire News & Gossip

Mark Cuban is GAY!

2010-09-02T09:28:00.000-07:00

Billionairenews.blogspot.com: Dammit, you won't believe it. We don't believe it either, but one of the world's richest people and Dallas Mavericks owner, billionaire Mark Cuban is a freakin' homosexual. Yeah! You heard right. Mark Cuban is as GAY as Perez Hilton. But all you gays, don't jerk off in delight, Billionairenews.blogspot.com is sill ye to confirm the story.

One of his alleged domestic staff, a young middle-aged man, emailed us this morning and told us that Mark Cuban usually touches him in all the wrong places. Billionaire News is yet to get confirmation of this story. But if it is true, than Mark Cuban is fucked.

We'll investigate in our own little way. We do hope this story is not true. Billionaire News cannot stand one of its favorite people being a freaking gay ass.

Mark Cuban, Billionaire News is watching ;-(

Russian billionaire Abramov gets Cypriot citizenship

2010-09-02T04:40:00.000-07:00

TWENTY FIVE foreign businessmen have been given Cypriot citizenship, including the Russian billionaire Alexander Abramov, in exchange for their “services to the Republic of Cyprus.”

Most of the businessmen are Russian, like Abramov, 51, who co-founded and chairs the steel giant Evraz, and who is the world’s 121st richest person with a net worth of $6.1 billion....

Billionaire Loser, Jeff Greene Blames And Sues Media For Loss

2010-09-02T04:38:00.000-07:00

Not news: a politician blames the media for his epic downfall and convincing defeat. News: the politician takes the media to court and asks for $500 million in damages.

That's the man-bites-dog story playing out in Florida today, where Jeff Greene -- the billionaire investor who just got crushed by Kendrick Meek in the Democratic primary for Senate -- is filing suit against two state papers for, he says, tanking the Senate campaign he spent tens of millions from his personal fortune on.

Egyptian Billionaire's Swiss Resort May Rival Verbier

2010-09-02T04:05:00.000-07:00

An Egyptian billionaire with a penchant for risk is transforming a sleepy Swiss village into a ritzy resort that may one day rival Verbier.

Samih Sawiris’s Orascom Development Holding AG plans to spend about $1.5 billion in Andermatt to build deluxe hotels and a golf course on a former Nazi supply route. His plans will double the number of ski slopes and revitalize an Alpine town at the base of Gemsstock mountain between Milan and Zurich that lost a fifth of its residents in the past decade.

“I wasn’t euphoric at the beginning,” Internet cafe owner Baenz Simmen said of the developer’s proposal to expand Andermatt. Sawiris has a vision to convert the town, where Elvis Presley learned to ski, into “a little paradise,” he said.

The cheapest housing units in Sawiris’s project are on sale for 1.2 million Swiss francs ($1.1 million). The first apartments in the village along the scenic Glacier Express train route from Zermatt to St. Moritz will be ready in late 2013 or early 2014. Orascom expects most of the buyers to come from outside Switzerland.

Sawiris, 53, made his fortune developing towns in the Middle East. Now he’s betting that a revived Andermatt will compete for skiers with more well-known resorts such as Verbier, St. Moritz or Zermatt. He envisions a new town the size of 200 soccer fields with an 18-hole golf course, a sports center, 490 apartments and six luxury hotels that’s next to the old village of 1,350 residents.

‘Crazy’

“They all thought I was crazy,” Sawiris said during an interview in Andermatt. “But they thought the same thing when I decided to build El Gouna,” he said, referring to Orascom’s flagship resort on Egypt’s Red Sea coast.

Sawiris caught the attention of Zermatt Mayor Christoph Buergin when announcing the project.

“I know Andermatt very well and hearing someone coming from Cairo saying he’ll build a resort here, my first reaction was that he must be stupid,” Buergin said in a July 20 telephone interview. “But now I think it’s a very good thing. This is a man with plans.”

Andermatt is the most expensive new resort in the Swiss Alps, four times more costly than the investment Mirax Group is planning for the Le Village Royal project near Crans-Montana. The Russian developer owned by Sergei Polonsky is committing about 400 million francs to the resort, which includes hundreds of deluxe apartments, ski chalets and a hotel complex.

New Jobs

Qatari property developer Barwa Real Estate Co. is investing 300 million francs at Buergenstock above Lake Lucerne for a 400-room spa resort project that includes 60 residential suites with hotel services.

Sawiris’s resort will create 2,000 jobs for Andermatt, whose economy has relied for decades on the Swiss army. While Switzerland was neutral during World War II, Nazi trains used the transit route through the Gotthard mountain passage for supplies, the Andermatt Internet café owner Simmen said.

The mountains above Andermatt are fortress-like, peppered with bunkers and underground tunnels, part of an area central to the Swiss national defense strategy until the Cold War ended. After a series of cutbacks, Switzerland no longer needed its Alpine fortress -- or Andermatt.

That’s when Sawiris stepped in. He bought land vacated by the army and won local support in 2007 to build the resort, convincing residents the project will bring jobs and prosperity without harming the environment.

Andermatt by Coincidence

“Andermatt came by coincidence,” Sawiris said. “I was asked by a friend for advice on what to do. When I came to give advice, I fell in love with the idea of doing this in Switzerland. I told them if you give me the right conditions I’ll come, and they did.”

Simmen, whose Internet cafe is on Andermatt’s main street, was among the early skeptics. He changed his mind after the third of four meetings that Sawiris held with residents.

“Sawiris is very transparent and cares about nature,” Simmen said. “He’s not going to make this an urban thing.”

While the Ursern valley is a magnet for skiers, snowboarders and hikers, Andermatt has offered little indoor entertainment until the emergence of the project, Simmen said.

“If there’s bad weather in Andermatt, you have to be a reading person or a drinking person because otherwise there’s nothing to do,” he said.

Hotelier Kevin Obschlager is upbeat about the new business the project will draw to Andermatt, though he doesn’t believe local residents grasp how big an impact the resort will have.

“When they roll in, they’ll rule because money rules,” Obschlager said of property buyers. Now is the time to figure out how best to cope with changes Sawiris’s resort will bring and to work out a strategy to ensure the old and new are compatible, he said. “Time is our capital right now.”

Jeff Greene, the billionaire, has a cash bar at his campaign party

2010-08-24T23:10:00.000-07:00

From what you heard and read about Jeff Greene, you'd expect celebrities, champagne, zoo animals -- something -- to distinguish Greene's election night party Tuesday.

But supporters walked into a largely austere event.

Greene picked a run-of-the-mill Marriott in West Palm Beach over The Breakers, the iconic Palm Beach oceanfront resort where Greene worked as a bus boy.

The ballroom was set up like Greene was hosting a seminar instead of a party, with six rows of chairs filling the middle of the room pointed at the lectern. Campaigns usually leave the middle of the ballroom open so people can stand and mingle.

And for a man who according to required financial disclosure forms could have assets topping more than $2 billion, Greene didn't even spring for free drinks. Wine and cocktails, after the first drink, cost $8.

No Mike Tyson, either, who served as Greene's best man. And, for the record, no deckhands spotted from Greene's 145-yacht the Summerwind.

Richard Branson fails to kite surf across the Channel

2010-08-24T07:23:00.000-07:00

Ten-foot-high waves and 30mph winds defeated billionaire adventurer Sir Richard Branson in his attempt to kitesurf across the English Channel.

The Virgin boss was one of 17 kitesurfers who set off from windswept Dungeness to attempt the 24-mile crossing to the French coast

He was accompanied by his daughter Holly and among the spectators was her friend Princess Beatrice, who applauded Sir Richard as he took to the water. He was making the attempt as part of his 60th-birthday celebrations.

Speaking before his abortive trip, Sir Richard said: "I don't think it is in the same risky league as ballooning - it's more of a fun adventure to take part in with one's family.

"I'm determined to succeed and in any case it is a wonderful way to celebrate a birthday. My family have run marathons with me and next year we are all going into space together, so they love a challenge as much as I do."

Sir Richard made a faltering start into the water but then managed to set off on his kitesurf to check out conditions. However, the sea was so rough that the rescue and safety boats accompanying the surfers would not have been able to get close in an emergency.

Sir Richard said he wanted to continue but, having gone five miles out, allowed himself to be overruled on safety grounds.
Watching from the shore, Princess Beatrice said: "I'm just here as a spectator and I wanted to wish them well."
Sir Richard's mother Eve was another onlooker. She said: "It's typical of Richard to try out yet another crazy thing.
"I've had 55 years of craziness from him - I let him off the first five years. In some ways maybe I started it all.

"I did things like drop him off in the middle of Devon when he was just a young boy and tell him to make his own way home.

"I regretted it when I did it first. I was waiting for ages and there was no sign of him. Then the phone rang and a man from a nearby farmhouse said ‘I have a small blonde blue-eyed boy. Is he anything to do with you?' That was maybe his first adventure and he has been carrying on ever since."

If successful, it is believed Sir Richard would have entered the record books as the oldest man to kite-surf across the Channel.

He has already made history when in June 2004 he drove an amphibious car, the Gibbs Aquada, from Dover to Calais in one hour and 40 minutes.

The Virgin boss is also known for his attempts at flying around the world in a hot air balloon and sailing across the Atlantic.

At the end of last year Sir Richard unveiled a rocket plane which his company will use to take fare-paying passengers into space.

About 300 people have reported to have signed up to pay some £120,000 each for experiencing six minutes of weightlessness during a two-hour flight.

Last month a family from Wingham completed the Channel crossing when they kite-surfed from Dungeness to Boulogne in three hours and 45 minutes.

Ralph Crathorne and his two daughters Lucy, 21, and 16-year-old Polly have been learning the sport for the past six years, with both girls competing at national events.

They told Yourshepway the attempt was organised at the last minute but after finishing it they found the experience "completely exhilarating".

Sir Richard was due to make a second attempt across the Channel tomorrow(Wednesday).

Silvio Berlusconi's estranged wife rejects divorce deal

2010-08-24T03:35:00.000-07:00

Italian Prime Minister Silvio Berlusconi's estranged wife Veronica Lario has rejected a divorce settlement, which means the couple may face off in civil court. The billionaire politician in May offered his second wife 300,000 euros a month and the use of the Macherio villa outside Milan in a legal settlement to end their marriage.

Lario filed for divorce last year after revelations that her billionaire husband had attended the 18th birthday party of an aspiring model who said she called him 'Daddy'.

Berlusconi, 73, presented Naples underwear model Noemi Letizia with a 6,000 euro necklace when he attended the party at her family's home in 2008.

Soon after La Repubblica daily reported Berlusconi had attended the party, Lario said her husband was 'unwell' and announced she could not remain with someone 'who dated minors'.

A former actress, Lario had demanded 3.5 million euros a month from her husband, who owns Italy's three biggest private television stations, as well as other media assets.

Berlusconi's fortune was estimated to be worth over 6.5 billion euros in 2009. The US-based Forbes magazine's rich list ranked him as Italy's second richest man.

A courtroom battle could mean that personal details of Berlusconi's life would become public domain.

Meet Roguish Nigerian Billionaire, Femi Otedola

2010-08-23T23:19:00.000-07:00

Let me introduce you to Femi Otedola, a Nigerian billionaire oil tycoon. But he’s a huge crook, though. Here’s his story:

A few years ago, the 43 year-old Femi was nobody. He hung around government offices soliciting for contracts here and there. On the side, he ran a small printing press which his father owned.

In 1999, using his father’s influence (his father was a former governor of Lagos state in Nigeria); he started an oil company called Zenon oil. Zenon traded diesel products in Lagos state, Nigeria. You’ve got to give him some credit though, because in little time, Femi built Zenon into a multi-billion naira oil trading company, cornering major multinational companies as clients.

A close friend of former Nigerian president, Olusegun Obasanjo, in 2005 Femi bought a controlling stake in one of Nigeria’s publicly traded companies, African Petroleum. By acquiring the controlling stake in the company, he installed himself as Chairman and CEO, much to the opposition of thousands of shareholders.

That’s when the problem began: Femi ruined the company. He embezzled the company’s funds to the tune of hundreds of millions of dollars, and made the company operate at a loss. The company’s stock is now at an all time low, and shareholders have not been paid dividends for two years now. Shareholders hate his guts for this. Some wish his penis will grow shorter.

But Femi is not bothered. He owns a $20million mansion in Bishop Avenue in London, a $15million Lagos mansion, and a $16million mansion in California, U.S.A. His Garages are packed with Bentleys, Roll Royces, Mercedes G55s, Ferraris and lots of freakin’ expensive cars. He famously owns $150,000 Cartier wristwatches and he is always seen in white traditional Nigerian apparel.

He is said to have a huge ego, and he recently fired top management of his company simply because they did not greet him during one occasion.

And because of this, we can conclude that Femi Otedola is a goat.

Get your copy of ‘Crazy Billionaires Speak’ on Amazon.com

Eike Batista is f*cking awesome!

2010-08-23T05:20:00.000-07:00

Brazillian billionaire and the world's 8th richest man, Eike Batista, is an extremely cool dude.

He is the ultimate playboy. He was once married to a Playboy cover girl...and he loves fast cars. I dream about being him at night.

Sad thing is, he is involved in one of the world's unsexiest businesses- MINING.

Yuck!

His dad was once Brazil's mining minister, so it's not so difficult to see where he got his jumpstart from.

Prince Alwaleed Hosts Georgian ambassador

2010-08-23T05:10:00.000-07:00

One of the world's most glamoouros billionaires, and one of my personal favorites, Prince Alwaleed Bin Talal Alsaud recently played host to the Georgian ambassador to the Gulf countries, Ekaterine Meiering-Mikadze.

The billionaire and the ambassador talked some investment mumbo-jumbo and shit like that.

Buy a copy of Crazy Billionaires Speak on Amazon.com

Donald Bren's children are spoilt brats

2010-08-19T00:19:00.000-07:00

Billionaire Donald Bren is being sued for child support by two grown children from a former girlfriend.

Jury selection begins Tuesday in Los Angeles. The children, ages 18 and 22, are each seeking retroactive support of $400,000 a month from the Irvine Co. chairman.

The attorney for Bren's ex-girlfriend Jennifer McKay Gold says the 87-year-old Bren paid $10,000 a month per child for a while, but broke off his relationship with them in 1997 when Gold told him their relationship was over.

Bren's attorney says he complied with all agreements and has paid more than $9 million in child support over the years.

Meet Kenyan Billionaire, Chris Kirubi

2010-06-16T03:21:00.000-07:00

Meet one of Kenya's richest men is Mr. Christopher Kirubi. He is worth over $120million (close to Ksh10 billion).

Chris Kirubi is your playboy billionaire. He is something of a Donald Trump and Hugh Hefner rolled into one.

Some of Chris Kirubi's holdings in Kenya include the International House Building in Nairobi- a Nairobi landmark which houses many of Kenya's largest corporate organizations. He is also the largest individual shareholder in Centum Investments, DHL Kenya and Tiger Brands, South-Africa. On the side, he is a Disc jockey with his radio station, Capital Fm.

He loves women...and men. Apparently, he is bi-sexual. He drives a Range-Rover and Mercedes s600.

Cool guy!

Gerald Butler tries to woo Billionaire lady

2010-06-10T14:44:00.000-07:00

Gerald Butler is now a gold-digger, and he's trying to woo an unpretty billionaire dame.

He is said to be Hollywood's most notorious womanisers with a string of A-list affairs but actor Gerard Butler finally appears to be have met his match with his latest love interest.

The Scottish star, 40, is understood to be wooing London-based Kazakhstani billionaire Goga Ashkenazi, New York Post online reported. The 32-year-old brunette, who is a close acquaintance of Prince Andrew, previously dated Formula 1 tycoon Flavio Briatore. More recently, she called off a relationship with Kazakh oil billionaire Timur Kulibayev, who is still married to the daughter of Kazakhstani President Nursultan Nazarbayev.

Butler and Ashkenazi became acquainted after meeting at this year's Cannes Film Festival. "Butler was spotted chatting up with her at a party and they exchanged numbers," a source told the newspaper's Page Six gossip column.

The newspaper claimed Butler is "trying to woo" the pretty brunette, and was seen visiting her West London home last weekend.

Besides his reported dalliance with Aniston the 300 star has been linked to a string of high profile stars including Cameron Diaz, Serbian model Martina Sergic, Jessica Simpson and Lindsay Lohan, to name a few. PTI RTK

Read more at: http://movies.ndtv.com/movie_story.aspx?Section=Movies&ID=ENTEN20100143575&subcatg=MOVIESINDIA&keyword=hollywood&cp

Oprah Winfrey launches TV talent show to look for her replacement

2010-06-09T07:39:00.000-07:00

Billionaire media mogul Oprah Winfrey has launched a TV Talent show to search for her replacement as she plans to step down from her chat show. It's called Oprah's search for the next TV star. I think its a crappy idea. She thinks she can step out from the scene and dictate to us who the world should follw. Bullsh*t. Oprah should step the hell down and let Tyra Banks rule the world!

Doesn't she look hideous in that photo? Lord have mercy!

EBay billionaire leads women to victory in key US primaries

2010-06-09T07:33:00.000-07:00

Meg Whitman, the former CEO of eBay has just won the Republican's nomination for November's mid-term elections in America.

This is a major first step towards being governor of the sexiest state in America- California!

Let's wish Meg lots of success! You've got my unalloyed support, Meg!

More on this story here:

Padma Lakshmi goes public with billionaire romance

2010-05-22T01:11:00.000-07:00

Salman Rushie's ex-wife Padma Lakshmi has gone public with her feelings for billionaire Teddy Forstomann after declaring him "the person that I love" during a charity fundraiser on Thursday.

The Indian-born model, actress and TV chef was the guest of honor at The Endometriosis Foundation of America's Blossom Ball at the New York Public Library and gave an emotional speech detailing her own struggle with the medical condition and her delight at falling pregnant last year.

Lakshmi, 39, announced she was expecting her first child in October 2009, branding the pregnancy a "medical miracle" after years of struggling with endometriosis, in which the lining of the uterus grows in other areas of the body.

She gave birth to daughter Krishna in February and she publicly thanked Forstmann for supporting her throughout the pregnancy at the Blossom Ball, acknowledging their romance for the first time.

According to the New York Post, Lakshmi told the audience, "I am lucky to have someone who unwaveringly gave me love and manly support - and is also the person that I love. So thank you, Teddy."

The beauty, who has repeatedly refused to name the father of the baby, has been linked to Forstmann for months, and he was initially rumored to be the child's dad.

However, more recent reports suggest venture capitalist Michael Dell fathered Lakshmi's tot.

She divorced famed author Rushdie in 2007.

Read more: http://www.sfgate.com/cgi-bin/blogs/dailydish/detail?entry_id=64123#ixzz0odz4pPHg

US Apologizes to Billionaire Added to Terror No-fly List

2010-05-22T01:07:00.000-07:00

The United States has issued a written apology to a jet-setting billionaire businessman with close ties to former President Bill Clinton whose name was added to the no-fly list in the wake of the attempted Christmas day bombing of an American passenger plane.

Gilbert Chagoury, 64, a Nigerian citizen of Lebanese descent, was pulled off a private jet Jan. 15 at Teterboro airport in New Jersey and detained for more than four hours after federal agents discovered his name was on the then-recently updated no-fly list.

The private jet crew of two and four other passengers were detained for four-and-a-half hours while agents questioned Chagoury. He and the others were ultimately allowed to continue their trip to Paris.

"I think a huge mistake is an understatement," Chagoury said in a phone interview with ABCNews.com and the Center for Public Integrity.

"I cannot accept being labeled a terrorist when I am known all over the world as a person who loves peace. It really hurt," he said.

It took Chagoury, a well-known philanthropist and an ambassador to the United Nations educational office, more than four months and thousands of dollars in legal fees to get the U.S. government to offer an apology and to give him a waiver to fly freely across U.S. airspace.

"Let us apologize for any inconvenience or unpleasantness you have experienced," wrote Jim Kennedy of the Department of Homeland Security's Traveler Redress Inquiry Program in an April letter obtained by the Center for Public Integrity.

Billionaire Philip Green Eyes Brazil, China for Topshop Chain

2010-05-21T00:17:00.000-07:00

U.K. retailing billionaire Philip Green will open stores of his Topshop fashion chain in Brazil and China as he looks to new markets to drive growth.

“I think we’ll go to China in the next year” after reaching an agreement a week ago to enter Brazil, the 58-year- old owner of Arcadia Group Ltd., said in a Bloomberg Television interview at his new store in London’s Knightsbridge shopping district. “We’ve been working on Hong Kong for quite a while and we’ll expand in America.”

Green, who opened the three-story Topshop outlet selling 85-pound ($122) floral jumpsuits opposite Harrods on May 19, said he’s discussing four or five locations in the U.S., including sites in New York, Los Angeles, Miami and Chicago. The retailer opened its first Manhattan store last year and is spending 80 million pounds to 90 million pounds a year on new projects, he said.

“If you want to create a global brand, you’ve got to be able to create location,” he said of the new London outlet and added that “we’re in exploratory mode” in the U.S. Topshop will also probably open in San Francisco and Las Vegas, he said.

Green’s Arcadia owns U.K. fashion brands Wallis, Evans and Dorothy Perkins. It also owns retail chains including BHS department stores, and Green said he would consider buying other chains.

“We have a lot of firepower to do it,” Green said. “We’re not heavily geared.”

BHS

Green, who made an unsuccessful attempt to acquire Marks & Spencer Group Plc in 2004, is adding brands such as Wallis and Burton to the BHS stores to drive sales and create “more of a department store feel,” he said. Profit has advanced 30 percent at the outlets involved in the revamp, carried out by Chief Operating Officer Ian Grabiner. Green would “definitely not” sell BHS, he added.

While the British billionaire’s show-business joint venture with American Idol judge Simon Cowell is “exciting,” Green said his focus will be the stores.

The privately owned retailer reported operating profit gained 13 percent in the year ended August 2009, while same- store sales were flat.

Billionaire Kerimov Declares $247,000 Income, 1-Room Apartment

2010-05-14T01:53:00.000-07:00

Suleiman Kerimov, ranked Russia’s fourth-richest man with a $14.5 billion fortune by Finans magazine, said he made 7.42 million rubles ($247,000) last year.

That’s about one-eighth of the starting price of a Bugatti Veyron Grand Sport convertible, one of two cars declared by Kerimov as a member of Russia’s upper house of parliament, according to the Federation Council’s website.

The 44-year-old investor, a native of Dagestan in the North Caucasus, said his wife earned about $21,000 last year and owns three cars and one-third of a 54-square-meter (581-square-foot) apartment. Kerimov, part owner of OAO Polyus Gold, Russia’s largest gold miner, declared two properties, a one-room apartment and a 508-square-meter building, both in Russia.

Kerimov’s income pales in comparison to fellow billionaire senators Sergei Pugachev and Dmitry Ananiev, who reported earnings of $100 million and $12.3 million, respectively.

Senior officials are required to publicly disclose their incomes as part of a drive by President Dmitry Medvedev to crack down on corruption and make government more transparent. Medvedev declared 3.3 million rubles in income for last year, less than Prime Minister Vladimir Putin’s 3.9 million rubles.

The record for disclosed incomes is held by Moscow Mayor Yuri Luzhkov’s wife Yelena Baturina, who said this month that she earned $1 billion last year. Baturina, the only woman on the annual billionaire lists of Forbes magazine and its Russian rival Finans, said most of that income came from selling shares in companies including state-run OAO Gazprom and OAO Sberbank. Most of those proceeds were used to pay off bank debt, she said.

Billionaire Soros Buys Alibaba Stake, CEO Wei Says

2010-05-14T01:47:00.000-07:00

illionaire investor George Soros bought shares in China’s Alibaba.com Ltd. during the third quarter and is now among its largest shareholders, Chief Executive Officer David Wei said.

The founder of Soros Fund Management LLC visited Alibaba during the summer, Wei said in Shenzhen today at the company’s shareholders’ meeting. He declined to provide specific details.

The investment may be a vote of confidence for a stock that’s underperformed Hong Kong’s benchmark index by falling 13 percent this year. Most analysts covering Alibaba, operator of the biggest online commerce site in the world’s biggest Internet market, advise shareholders to hold or sell the stock, according to data compiled by Bloomberg.

Separately, Joseph Tsai, chief financial officer of Alibaba Group Holding Ltd., said the parent company is ready to buy back Yahoo! Inc.’s stake, though the U.S. company hasn’t indicated it will sell. In 2005, Yahoo paid $1 billion and swapped its China operations for a 40 percent stake in Alibaba Group.

Alibaba.com yesterday reported first-quarter profit rose 34 percent after the company attracted more companies to market their products.

A call to the office phone of Michael Vachon, a New York- based spokesman for Soros Fund Management, went unanswered outside of regular business hours.

Alibaba rose 4.4 percent to HK$15.68 at the midday break in Kong Kong trading.

I am not a criminal, insists billionaire behind Icesave

2010-03-09T11:32:00.000-08:00

Björgólfur Thor Björgólfsson spoke out in a new film ahead of Iceland's crucial referendum on whether to bear the €4bn (£3.6bn) cost of Icesave's failure.
Over the weekend, more than 90pc of Iceland's electorate voted against a deal that would see the country pay back Britain and Holland for compensating 400,000 savers in the two countries.

Mr Björgólfsson and his father, Björgólfur Gudmundsson, the former owner and chairman of West Ham FC, owned 41pc of Landsbanki before it collapsed in October 2008. Asked what he would say to people who describe the bank's owners as criminal, Mr Björgólfsson replied: "I have nothing to say to them. I am not a criminal and never have been." He then detaches his microphone and walks off.
Mr Björgólfsson, whose wealth has fallen from $3.5bn (£2.3bn) at its peak to $1bn last year according to Forbes, denies any wrongdoing in relation to the crash in the new film, Maybe I Should Have. The documentary has been shown in Icelandic cinemas and was brought to Britain last week by its director, Gunnar Sigurdsson, whose attempt to trace the billions lost in the banks takes him to London, Guernsey, Luxembourg and the British Virgin Islands.
Asked what happened to the bank's money, Mr Björgólfsson claimed: "When you lose capital in this way, a lot of money goes to money-heaven. The value that has been wiped off the stock markets, the deposits in the banks and investment funds has gone. [It] has evaporated. It's a common misunderstanding to ask: where did the money go?"
Attempts to negotiate a better Icesave deal are set to continue this week, with Chancellor Alistair Darling indicating that he understood Iceland's position: "The fundamental point for us is that we get our money back - but on the terms and conditions and so on, we're prepared to be flexible."
Over the past 18 months, there have been demonstrations in Reykjavik against the idea ordinary people should pay the debt of a commercial bank, with particular concern about the 5pc interest rate demanded by Britain and Holland. Public anger has intensified since the news that the authorities are pursuing 43 cases of potential fraud in Iceland's financial institutions, including Landsbanki and rivals, Kaupthing and Glitnir.
Icesave was set up and marketed to British savers with high interest rates in October 2006, when analysts were already warning that the banks were financially unstable.

Indian billionaire involved in alleged murder plot married to Peabody Essex Museum board member

2009-05-02T00:57:00.000-07:00

SALEM - Indian billionaire Amil Ambani, in the world news spotlight this week following allegations that someone sabotaged his helicopter in a murder attempt, has local ties. His wife, former Bollywood movie star Tina Ambani, is the only international member of the Peabody Essex Museum Board of Trustees.

Amil Ambani told police in Mumbai that pebbles and gravel were found in the chopper's engine and, had the aircraft lifted off, the debris could easily have severed vital parts and caused a fatal crash. The intrigue was soon compounded when the technician who discovered the pebbles turned up dead along railroad tracks in suburban Mumbai. Investigators described Bharat Borge's death as a suicide but the man's family believe he was murdered.

Ambani is among the world's richest men. His wife, the former Tina Munim, was elected last September to the Peabody Essex Museum's Board of Trustees because of her strong support for Indian art.

"Tina Ambani's passionate commitment to traditional, modern and contemporary Indian art makes her an ideal person to serve as PEM's first international trustee," Richard Carlson, the museum board chairman, said last fall.

A social philanthropist and patron of the arts, Ambani established the Harmony Art Foundation, an institution that supports India's emerging and known artists. She put her film career on hold to pursue her education in the United States. Upon returning to India, she married the wealthy industrialist, with whom she has two sons.

Upon accepting the PEM trusteeship, she said, "There is a tremendous synergy between the Peabody Essex Museum and Harmony Art Foundation based on our belief in Indian art and our genuine commitment to bring it to the global stage. It's time that the art world looks beyond the current fads and market trends to establish an
abiding interest in the incredible power and potential of Indian art."
The PEM began collecting
Indian art in 1799.

Spielberg raises $1.3b to take back DreamWorks

2008-09-20T04:53:00.001-07:00

Steven Spielberg raised $1.3 billion to reestablish DreamWorks SKG as an independent film studio and break away from Viacom Inc.'s Paramount Pictures, people familiar with the director's efforts said.

The new studio is backed with a $550 million equity investment by Indian billionaire Anil Ambani and $750 million in debt financing lined up by JPMorgan Chase & Co., according to two people familiar with the arrangements.

The investment by Ambani's Reliance Entertainment Pvt. allows Spielberg, 61, to leave Viacom, where he clashed with Paramount studio chief Brad Grey. Paramount said it will let Spielberg and DreamWorks chief Stacey Snider join the new company immediately. The two sides will have to negotiate the projects Spielberg can take, said Bill Mechanic, former head of News Corp.'s Fox studios, said.

"If they leave behind all their projects, starting up will be a harder process," said Mechanic, who now heads Beverly Hills-based Pandemonium Productions. "Your success in this business is determined by the quality of projects you have in development."

With the release from Paramount, the new DreamWorks may be up and running as early as January. The studio will make about six films a year, according to the people familiar with the plans.

A DreamWorks spokesman declined to comment, as did Amit Khanna, chairman of Reliance Entertainment. The people declined to be identified because the terms aren't public. The Wall Street Journal reported the accord earlier.

DreamWorks founders Spielberg, Jeffrey Katzenberg, and David Geffen sold the studio to Viacom for $1.6 billion in 2006.

Source: Boston.com

Newcastle owner Mike Ashley in talks with Kuwaiti billionaire

2008-09-20T04:41:00.000-07:00

Billionaire Kuwaiti businessman Nasser Al Kharafi is latest name linked with a possible takeover bid for Newcastle.

According to reports on Tyneside, an intermediary working on his behalf that Al Kharafi is interested in taking the club off sports retail tycoon Mike Ashley’s hands and becoming Newcastle’s new owner.

Al Kharafi, 64, has a background in construction and engineering and is said to be the 48th richest man in the world with an estimated fortune of £7 billion.

“Nasser Al Kharafi has the money to buy the club, but the way Mike Ashley is going about things is wrong,” the intermediary said. “He is actually putting off any interested buyers with the price and his refusal to negotiate. If he genuinely wants to sell he is going about it the wrong way.

“At the last estimate Nasser was worth around US$12bn, but he still won’t pay over the odds for the club.

“Mr Ashley seems to think he can ask what he wants because he is dealing with people who are multibillionaires, but that simply isn’t the case.

“As things stand he will be returning to England without a buyer.”

Earlier this week it emerged Ashley, the Sports Direct mogul, had slapped a staggering £481 million price tag on Newcastle just 16 months after he bought the St James’ Park club for £134.4 million.

Ashley has been in Dubai with Newcastle director of football Dennis Wise to sell Newcastle after putting the club up for sale on Sunday following a fierce backlash prompted by the resignation of Kevin Keegan as manager.

There is talk of Keegan making a dramatic return to Newcastle should Al Kharafi buy the club from Ashley who reportedly snubbed talks with an unidentified prospective buyer in Dubai and instead drank cocktails.

Source: www.telegraph.co.uk

American Billionaire Joins Arsenal Board

2008-09-20T04:23:00.000-07:00

Stan Kroenke, the billionaire owner of the Denver Nuggets, Colorado Avalanche, and Colorado Rapids, has joined the board at Arsenal. Just over a year ago, the boys over in London were up in arms when Kroenke started buying shares of the club. They more or less told him where he could shove his American money. Now they are falling all over themselves in an attempt to get that same American to protect them from a different potential takeover.

Russian billionaire, Alisher Usmanov, is gunning to take over Arsenal. In his corner is former Arsenal Chairman David Dein, who is heading up Usmanov’s company Red and White Holdings. Currently Usmanov owns 25% of Arsenal’s shares, but appears to be making a move for a hostile takeover.

Enter Kroenke. The American sports tycoon already owns a 12.5 % stake in the company, and current Arsenal Chairman Peter Hill-Wood - who recently just finished the largest plate of crow ever served up - has welcomed Kroenke’s money with open arms.

Kroenke is allowed to purchase up to a 29.9% stake in the club only if it is deemed that it’s necessary to block a takeover bid from Usmanov.

Arsenal is currently the only member of the big four that is traded publicly. Manchester United is owned by the Glazier family in America, Liverpool is owned by George Gillette and Tom Hicks, two American billionaires, and Chelsea is owned by Russian billionaire Roman Abramovich.

Source: www.90soccer.com