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Singapore Superapp Grab To Go Public With $40 Billion Valuation In SPAC Deal

April 14, 2021

Grab Holdings said it has reached a deal to go public in the U.S. by merging with a special-purpose acquisition company (SPAC) that will value the nine-year-old company at about $39.6 billion. The ride-hailing and food delivery giant is raising more than $4 billion by combining itself with Altimeter Growth Corp. in what would be the la...

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Billionaire Larry Ellison Buys $80 Million Estate In Palm Beach

April 11, 2021

The latest pricy purchase in Florida, one of the state’s highest, goes to Oracle co-founder Larry Ellison. He purchased this Tuscan style mansion from Gabe Hoffman, founder of Accipiter Capital Management, for $80 million or just a shave over its asking price of $79.5 million, reports the Wall Street Journal. Hoffman bought the main parcel within w...

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Jack Ma’s Alibaba Hit With $2.8 Billion Fine For Abusing Its Dominant Market Position

April 10, 2021

Alibaba Group was hit with the highest-ever antitrust fine imposed in China when the country’s regulator announced on Saturday that it had slapped a fine of 18.2 billion yuan ($2.8 billion) on the Hangzhou-based tech giant. The penalty is equivalent to about 4% of Alibaba’s domestic revenue in 2019. China’s State Administration for Market Regul...

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Larry Ellison Briefly Becomes The World’s Sixth $100 Billion-Dollar Person

April 8, 2021

Oracle’s billionaire cofounder Larry Ellison hit centibillionaire status for the first time after shares of his software company rose on Thursday.  Oracle stock rose up to 1.8% as of 3:00 p.m. EST on Thursday, pushing Ellison’s net worth up by $1.8 billion, to $100 billion, according to Forbes’ estimates. The stock then pared back gains sligh...

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Here’s The Richest Billionaire In Every U.S. State 2021

April 7, 2021

These 43 members of the three comma club represent over $1 trillion in collective wealth. Although pandemic quarantines forced the vast majority of Americans to shelter in place for most of 2020, some billionaires moved to greener pastures. Or at least ones with lower taxes. Take Elon Musk, for instance, who relocated in December 2020 to Austin, ...

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Canva Reaches $15 Billion Valuation, Making Cofounders Melanie Perkins And Cliff Obrecht Billionaires

April 6, 2021

Less than a year after securing a $6 billion valuation amid a pandemic usage boost, design unicorn Canva has more than doubled the valuation for its design software tools — making two of its cofounders billionaires in the process. Sydney, Australia-based Canva announced Tuesday it raised $71 million in new funding led by T. Rowe Price and Dragone...

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Forbes Fellows: Creating Opportunities Today For Tomorrow’s Leaders

April 6, 2021

This year’s Billionaires list, which over the course of the pandemic year added a net 493 new members and more than $5 trillion in wealth, will surely make worldwide headlines for all the obvious reasons. But as I note in our cover essay, we’re in a moment of profound change, with so many good things portending a future of broad prosperity. Part of...

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Rocket Elon: How Tesla’s Eccentric Boss Became The Number Two Richest On Forbes’ 2021 Billionaires List

April 6, 2021

As his electric vehicle and space exploration companies fired on all cylinders, Elon Musk’s fortune increased by more than $126 billion in just one year. Even amid a record year for billionaire wealth, no one in the world has had a better twelve months than Elon Musk. The Tesla cofounder and CEO’s fortune has grown an unprecedented amount, making...

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India’s 10 Richest Billionaires 2021

April 6, 2021

Mukesh Ambani added nearly $48 billion to his fortune since last year, and reclaimed the title of Asia’s richest person. Another Covid-19 wave is sweeping across India and total cases now exceed 12 million. But the country’s stock market has shrugged off its pandemic funk to scale new peaks; the benchmark Sensex is up 75% from a year ag...