Tag Archive : Billionaire

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After nearly two decades as one of Silicon Valley’s most closely guarded companies, data mining company Palantir Technologies finally went public on Wednesday in an unusual direct listing process.  After an expected delayed first trade, Palantir opened at 1:40 pm Eastern trading at $10 a share, up from the $7.25 reference price the company set on Tuesday night. It hit $11 at 1:50PM Eastern.

In a direct listing, the company does not raise funds for itself. Instead, existing shareholders get a chance to sell.  

Controversial investor Peter Thiel, who cofounded Palantir in 2003 and bankrolled the company in its early years, will be the biggest winner today as company chairman and its largest individual shareholder. 

Thiel and three investment firms he founded, Founders Fund, Clarium Capital and Mithril Capital, owned a total of 17.7% of the company before the

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(Bloomberg) — The coronavirus pandemic has created a new gaming giant, boosting the fortune of its two founding brothers.

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Thanks to a rush of new gamers, Playrix has become the world’s largest mobile-game developer after Tencent Holdings Ltd., according to researcher AppAnnie. Its founders and sole owners, 38-year-old Igor and Dmitry Bukhman, 35, have more than doubled their wealth and are now worth $3.9 billion each, according to the Bloomberg Billionaires Index.

That didn’t happen by accident: At the height of the health crisis, as companies cut down on advertising, the mobile-game developer took advantage of lower ad prices to increase its marketing. Monthly users surged 50% to 180 million at the peak of the outbreak, and sales jumped about 60% to $1.75 billion in the first eight months of the year, the company said. The number of gamers has since stabilized at 150 million monthly.

“Successful games

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(Bloomberg) — The coronavirus pandemic has created a new gaming giant, boosting the fortune of its two founding brothers.

Loading...

Load Error

Thanks to a rush of new gamers, Playrix has become the world’s largest mobile-game developer after Tencent Holdings Ltd., according to researcher AppAnnie. Its founders and sole owners, 38-year-old Igor and Dmitry Bukhman, 35, have more than doubled their wealth and are now worth $3.9 billion each, according to the Bloomberg Billionaires Index.

That didn’t happen by accident: At the height of the health crisis, as companies cut down on advertising, the mobile-game developer took advantage of lower ad prices to increase its marketing. Monthly users surged 50% to 180 million at the peak of the outbreak, and sales jumped about 60% to $1.75 billion in the first eight months of the year, the company said. The number of gamers has since stabilized at 150 million monthly.

“Successful games

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Why is the Revlon Billionaire Unloading Assets?

September 29, 2020 | technology | No Comments

Photo credit: Stephen Lovekin - Getty Images
Photo credit: Stephen Lovekin – Getty Images

From Town & Country

Billionaires—especially those who leverage and buy out—unload pricey assets all the time. They sell during upturns, downturns, and global pandemics—the timing doesn’t really matter for those who operate in the financial stratosphere.

Only a few months ago, for example, Henry Kravis (of Barbarians at the Gate fame) sold a Colorado mansion he built in 1991 to Mike Bloomberg (of $900-million-failed-presidential-bid fame) for $45 million. No big deal. It barely made the real estate pages.

But recently, one of the country’s most feared dealmakers—Revlon majority stockholder and longtime occupant of the Forbes and Bloomberg billionaire ranking lists—Ronald O. Perelman, has been making news by selling assets. A lot of them. Rapidly.

Earlier this month, the New York Post reported Perelman was shopping his 57-acre East Hampton estate, the Creeks, for $180 million in a so-called “whisper sale.” (A spokesperson for

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Topline

Elon Musk on Monday hinted at his plans to take SpaceX’s space internet venture, Starlink, public in several years when revenue growth is “smooth and predictable” as the firm, which eventually aims to provide broadband around the world, is servicing towns in Washington ravaged by wildfires along the U.S. West Coast.      

Key Facts

The Tesla CEO revealed his plans on Twitter, saying small retail investors will “get top priority” when the company is listed: “You can hold me to it.”

Investors may be waiting a while — Musk said he will only take the company public in several years when revenue growth is smooth and predictable, adding: “Public market does *not* like erratic cash flow.”.

Last year, Musk said he believed Starlink would be an important revenue stream for SpaceX, with ambitions to provide

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