Billionaire Leon Black is held in contempt of Congress over Jeffrey Epstein
The House voted by unanimous consent to hold Leon Black in contempt for defying a subpoena, referring the matter to the Justice Department.
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Billionaire Gautam Adani loses Asia's richest title after gaining $24.8 billion
Gautam Adani has added $24.8 billion this year and still lost his place as Asia's richest person. ByteDance founder Zhang Yiming has added $40.3 billion, and passed him this week on marks set by three American fund managers.
TikTok's Zhang Yiming passes Adani as Asia's richest at $105 billion
Seven years ago Bloomberg valued the ByteDance founder at $13 billion. Washington then spent three years trying to shut his app down. He is now worth more than $105 billion and has passed Gautam Adani to become the richest person in Asia.
Glencore's $2 billion Singapore fight hits Glasenberg's 10% stake
Glencore says its former partner sent banks falsified invoices and fabricated emails. That partner is suing for $2 billion. The company has already provisioned $480 million, one of its largest trading losses as a public company and Ivan Glasenberg owns a tenth of it.
Dangote refinery boss defends $49 billion valuation
A US refiner with more capacity than Dangote's is worth about $16 billion. A Turkish one is worth $12 billion. Aliko Dangote is asking investors for $49 billion and his chief executive says the comparison is the wrong one.
How billionaire Mofid Karameh built the Mikano empire in Nigeria making generators, cars and syringes
Mofid Karameh founded Mikano in 1993 servicing generators. It now has six divisions making cars, boats, syringes, brake pads and wafers.
South African billionaire Patrice Motsepe's Harmony Gold has lost eight workers this year
A Harmony Gold employee died at Mponeng on Sept. 14 after a seismic event, the eighth on-duty death across the group this year.
Egypt's billionaire Elsewedy family opens a Shanghai buying office for its $6 billion group
Elsewedy Electric (Shanghai) began operating on Sept. 15 as the Egyptian group's procurement centre for China, six months after it registered.
Billionaire Phil Knight gives another $1 billion away as Nike shares sit near their lows
Phil and Penny Knight are giving $1 billion to Providence St. Vincent in Oregon to build the state's first women's specialty hospital.
Sam Altman's OpenAI is considering a funding round that would value it at $1.2 trillion
OpenAI is weighing a private round at a $1.2 trillion valuation, the Financial Times reported, ahead of a listing it has been preparing since May.
Botswana tycoon Ramachandran Ottapathu wins approval to buy Engen but must sell 67 stations
Botswana's competition authority approved Ramachandran Ottapathu's purchase of 70% of Engen Botswana, on condition he sells 67 filling stations.
Billionaire Gina Rinehart has bought a bigger stake than her estranged son in his own company
Hancock Prospecting is paying A$8.77 million for 13.5% of White Cliff Minerals, the copper explorer John Hancock founded and still sits on.
Billionaire Len Blavatnik has been ordered to testify about a film he paid for
Rebel Wilson's lawyers asked a Los Angeles judge to help compel testimony from Len Blavatnik, who financed her film The Deb through AI Film.
French billionaire heir Frédéric Arnault is slowing Loro Piana down on purpose
Frédéric Arnault is pulling Loro Piana out of wholesale and capping volume growth, at a brand LVMH values at around €10 billion.
Indian billionaire Mukesh Ambani is selling 2.5% of Jio in India's biggest share sale
Jio Platforms starts investor meetings this month across five markets, ahead of a November listing that bankers have valued at up to $180 billion.
Billionaire Dilip Shanghvi's company escaped the rule now forcing Tata Sons to list
Dilip Shanghvi's holding company cleared its debts and left the RBI's upper layer in 2023. Tata Sons tried the same thing and has been refused.