5:14 pm, July 31st | by Hillary Reinsberg
Down the transom came news last week that the rapper known as Soulja Boy had purchased a $55 million Gulfstream V, the ultimate in the big boy toy world of private planes, as a gift to himself for his 21st birthday. Was this for real? No, it turns it out. It wasn’t.
A spokesperson for the rapper said that in fact no jet had been purchased, calling the whole thing a collection of ”elaborate rumors,” according to The New York Daily News. The paper also points out that given Soulja Boy’s $6 million income last year, a $55 million purchase would be unlikely.
There are, of course, a number of moguls who do own G5′s. Shall we remind ourselves?
3:21 pm, July 31st | by Hillary Reinsberg
The Carlyle Hotel, set in the middle of Manhattan’s Upper East Side, has a history that speaks for itself. JFK and Marilyn Monroe secretly met up there. Woody Allen plays jazz there weekly. And uptown types in the art, business and political worlds still patronize the lobby bar, Bemelmans, with its 24-karat gold ceilings, as a kind of elite watering hole. A family from Hong Kong just picked up the hotel, as well as four others, for the hefty price of $570 million. Why would Chinese investors want to own a bunch of old American hotels? There’s an interesting explanation.
12:38 pm, July 31st | by Hillary Reinsberg
Oprah seems to have a problem with acronyms. Her TV channel, OWN, has been plagued with bad ratings and departing executives. And now, she’s being sued for her use of the acrnonym OYP, which stands for own your power. As it turns out, the folks at Own Your Power Communications think its them, not Oprah, who own the power. The “motivational communication” company claims the acronym is their trademark, and that Oprah’s use of it has been unlawful. OYP Communications filed a suit on Thursday, according to Entertainment Weekly, that alleges Oprah and Harpo Studios used the registered term without permission, advocating the same message. We actually thought Oprah was the one with the monopoly on communicating messages of empowerment. Apparently not.
10:00 am, July 31st | by Hillary Reinsberg
Vanity Fair is taking the honors. The mogul-loving magazine has announced it’s publishing a selection of “tell-all” stories about Rupert Murdoch, in the first of what will certainly be many books about Murdoch in the post-hacking scandal era.
The collection of stories about different periods of Murdoch’s life, selected by Vanity Fair editor and elite hobnobber Graydon Carter, is available in eBook form on Kindle or Nook, for just $4. Comparatively, a single issue of Vanity Fair sells for more, costing at least $5 on a newsstand. Burn.
4:30 pm, July 30th | by Amy Tennery
This week’s winner? Jeff Bezos.
Just one week after the demise of Borders, the Amazon honcho celebrated a 51-percent revenue climb, marking the company’s most rapid growth in 10 years. Wow. Sure, Borders folding probably makes little difference to Amazon’s bottom line — it would be hard to have considered the bookseller much of a “competitor” toward the end there. Still, the timing was rather symbolic. Amazon’s on its way up — and we’d imagine Bezos is celebrating!
2:30 pm, July 30th | by Amy Tennery
We have a feeling that a couple of New York City-centric, rich-for-the-sake-of-being-rich reality shows are about to clash. The first, “The Real Housewives of Westchester”, will be the latest installment of the ever-popular Bravo series
before the world implodes. The other, “Wall $treet Wives” (yes, there’s a dollar sign in the title. Really.), is a bit more of a wildcard. But they’ve released a potential cast list so, hooray for small miracles.
Weirdly, the list includes the show’s co-creator, Devon Fleming, a Deutsche Bank Wife, who seems intent on casting herself on her own reality show. It also contains s Handelsbanken Wife, a Hedge Fund Manager Wife, a Used to be Married to a Wall Street Guy Wife, and so on.
12:30 pm, July 30th | by Amy Tennery
Yesterday was a good day for James Murdoch — BSkyB had announced they’d keep him on as chairman, which was sort of a crucial win for the embattled media titan. And while Parliament did note that wanted “further details” on some of his disputed claims, Murdoch could address these issues in writing, without going through the ordeal of (yet another) hearing. Or so we thought.
Now it would seem that Parliament is ready to call Murdoch back — we just don’t know when.
10:30 am, July 30th | by Amy Tennery
First, the bad news: if you’re a CEO, your salary probably hasn’t recovered much since the financial collapse. This according to Inc’s most recent survey on CEO compensation. The good news, however, is that the survey (and some other fun tidbits of information Mogulite came across) lays to rest some commonly held notions about what it takes to be a super rich CEO.
For starters the survey shows geographical superiority goes to Chicago and not New York City, with CEOs there had a median salary of $279,000 a year compared to Manhattan’s $272,000. Ouch!
6:00 pm, July 29th | by Amy Tennery
I’m not sure what’s weirder about this segment: the fact that CNBC felt the need to point out the whole “beer in popular in America” trend? Or that they needed to wheel a cart of alcohol onto Wall Street. Or maybe it’s the onlookers thirstily confusedly trying to figure out what the heck is going on.
But hey, according to CNBC, there are more breweries in the country today “than at any time in the last century.” So we’ve found an industry that can withstand the recession: Booze. Happy Friday!
4:42 pm, July 29th | by Amy Tennery
There’s a lot of ways to apologize. Flowers, a phone call — maybe a well-timed hug? But doling out millions-upon-millions of dollars is how BSkyB handles it, apparently.
Needless to say, shareholders at BSkyB had been a little rattled over the fact that the company’s chairman is currently the target of an international phone-hacking investigation. (So touchy, those guys.) So when the company’s board voted unanimously to keep James Murdoch on it would make sense that some investors might be a little… shaken up. And that’s when the BSkyB folks snapped into action.