Citic said its new fund was as safe as they come because it would invest in real estate. Then the developer defaulted and the projects stalled.
Category: High Net Worth Individuals
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Just How Rich Were the McCallisters in ‘Home Alone’?
Fans have been debating the McCallister family’s wealth for years. We asked the Federal Reserve for answers.
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Family Split at LG, a South Korean Giant, Tests Corporate Succession
A lawsuit pitted the former chairman’s widow and daughters against the son he adopted, challenging the patriarchal traditions of a $10 billion conglomerate.
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Bill Ackman’s Campaign Against Harvard Followed Years of Resentment
The billionaire investor has mounted a high-profile battle against Harvard president Claudine Gay over antisemitism and threats to Jewish students on campus, but long-held personal grudges play a part, too.
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Praxis Founder Dryden Brown’s Utopian Visions
Dryden Brown wants Praxis to be a crypto-city for tech bros and tastemakers. Just don’t ask for details.
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Jussi Pylkkänen Steps Down as Christie’s President
The Christie’s president Jussi Pylkkänen, who held the hammer for the auction house’s biggest sales, is leaving after nearly 40 years. Much changed in that time.
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The Supreme Court Case that Could Rewrite the Tax Code
Oral arguments begin on Tuesday in a high-stakes case that could redefine what is taxable income.
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What Do Frasier’s Clothes Say About Him in Reboot Series?
A popular sitcom from the ’90s has returned with an updated wardrobe that reflects shifts in American elitism.
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Gary Winnick, Who Won and Lost With Global Crossing, Dies at 76
He masterminded the building of a transoceanic fiber-optics network to speed the internet and phone traffic. But in five years the company went bankrupt in a historic failure.
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Warring Billionaires, a Rogue Trader, a Divorce: One Hedge Fund’s Tale of Woe
Two Sigma, the $60 billion quantitative trading firm, has been beset by troubles this year that have tarnished its image and could hurt its future.
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Treasury Report Shows $1.7 Trillion Deficit
The widening gap between what the government spends and what it earns comes as Congress continues to spar over the proper levels of federal spending.
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A Giacometti for a Cezanne: Jeffrey Epstein’s Role in a Pricey Art Deal
Mr. Epstein helped the billionaire Leon Black defer capital gains taxes from the swap. A Senate committee is scrutinizing some of Mr. Black’s art deals as it looks into tax avoidance schemes.