Billionaire investor Carl Icahn said that the U.S. economy is at a breaking point, blaming “worse than mediocre” leadership and warning that soaring inflation threatens to topple America’s position on the world stage. Icahn made the remarks during an interview on CNBC’s “Closing Bell” program on Tuesday. “The system is breaking down, and we absolutely…

This film is only available in the United States and Canada because of territorial licensing. To satisfy his father’s wish, an attractive and powerful billionaire travels alone, without money, and without using his real name to New York City. When the former playboy meets a perfect and down-to-earth real estate agent, the reason behind his…

SAN FRANCISCO— Li Zhang, a Chinese billionaire who is cofounder and CEO of Guangzhou R&F Properties, was arrested in London on Nov. 30 under a provisional warrant issued by the U.S. Attorney’s Office of Northern California District. Zhang was accused of “participating in a scheme to bribe public officials” between 2015 and 2020, according to…

Twitter owner and Tesla boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s…

Forbes recently released China’s Richest 2022.  Among the top 100 richest people, 79 of them saw their wealth fall. The biggest wealth drop since Forbes’ records began with a drop of 39 percent—from $1.48 trillion in 2021 to $907.1 billion in 2022. At the same time, the “Hurun China Rich List” also shows that the…

Twitter Inc. shares will be suspended from trading on Friday, the New York Stock Exchange’s website showed, as billionaire Elon Musk faces a court-ordered Oct. 28 deadline to close his $44 billion deal to buy the social media company. Musk, the world’s richest person, visited Twitter’s headquarters in San Francisco on Wednesday and hinted he…

Kanye West has dropped off the Forbes list of billionaires after Adidas cut ties with the businessman rapper over comments he made on social media that have been called offensive and antisemitic. West, whose legal name is Ye, had an estimated net worth approaching $2 billion before Adidas announced in a press release it was…

MINNEAPOLIS—Chinese billionaire and JD.com founder Richard Liu agreed to settle a lawsuit filed by a former University of Minnesota student who alleged he raped her in her Minneapolis apartment after a night of dinner and drinks with wealthy Chinese executives in 2018, attorneys for both sides announced late Saturday. A settlement amount was not disclosed….

The billionaire founder of outdoor fashion retailer Patagonia has given the entire company away in an effort to help combat climate change, he announced on Wednesday. Yvon Chouinard, 83, announced the move in a letter posted to the company’s website, entitled “Earth is now our only shareholder.” The businessman stated that ownership of the company has been transferred to…

Business Secretary Kwasi Kwarteng has told the Royal Mail if Czech billionaire Daniel Kretinsky increases his shareholdings in the company above 25 percent he will face a national security investigation. It comes as 115,000 postal workers went out on strike on Friday after the Royal Mail offered a 2 percent pay rise, which the Communication Workers Union…