10:39 am, August 31st | by Amy Tennery
What to say about Roman Abramovich? He owns a 536-foot-long yacht — which he “rents out” for $2 million a week. His teenage son has already begun making Hulk-sized investments, particularly in the Russian oil market. And — did we mention>? — his 19-year-old daughter owns a $6.5 million apartment.
So when it was announced that the most expensive home in London had sold to a ‘mystery buyer,’ Abramovich was an obvious guess.
9:09 am, August 31st | by Amy Tennery
Oh, really, Standard & Poor’s? Really. You think that subprime mortgage-backed securities deserve a better rating than the U.S. government. Really? You’re going to give a AAA rating to a collection of subprime loans right after you lower the U.S. credit rating down to an AA+ for the first time in history.
Let’s chat, S&P — can I call you S&P? Let me ask you a question: do you like having people hate you? Do you? You know, because it kind of feels that way.
6:36 pm, August 30th | by Hillary Reinsberg
Just four years after launching the startup Dropbox, founder Drew Houston is a billionaire. We guess that makes it, eh, not quite a startup anymore!
Houston is unofficially a billionaire on paper today, thanks to a reputed $4 billion valuation for Dropbox. Houston started the company just four years ago — meaning he’s on track with Mark Zuckerberg, who also became a billionaire within four years of dropping out of college to start his web company.
6:00 pm, August 30th | by Amy Tennery
National Arts Club boots allegedly wacko former president Aldon James out of its fancypants clubhouse [DNAinfo]
Carl Icahn is fine selling off his Lions Gate stake. He didn’t want it in the first place anyway — he didn’t, really, he’s fine. Stop asking. [Dealbook]
Newport, R.I. mansion sees $900,000 value appreciation — after 117 years. [Curbed]
In case you haven’t gotten enough Lauren-Bush-Laurenpocalypse news, here’s a roundup of all wedding related matters on which you should be briefed. [Styleite]
5:49 pm, August 30th | by Hillary Reinsberg
While the luxury yacht market in the United States and Europe suffers, big boating is alive and well in Brazil. Like, really alive and well. The AP spent some time with a Brazilian yacht salesman, taking a cold hard look at some of the folks buying big boats down there.
The highlight of the story is undoubtedly the tale one Brazilian man who shelled out $2 million on a yacht within 30 minutes, mostly because his kids begged, “Buy it, daddy, buy it!”
5:00 pm, August 30th | by Hillary Reinsberg
“You know all those restaurant ads you see on TV and on the radio, all like, all you can eat steak for 20 bucks?” No? Don’t worry — because you’re never going to see one now that beef is so expensive, says CNBC.
Beef mogul Lindsay Davis, a 30-year-veteran of the cattle industry, tells CNBC that beef prices will go up and up and up. Why? Droughts, he says, have meant that “so many cattle have been sent to auction” before they normally would. So you may see a surplus of beef for a short time, but soon, that cut of sirloin will be a hard-earned delicacy. Sad.
4:32 pm, August 30th | by Amy Tennery
“Uh, excuse me, Sir? You appear to have some Jaguar on your hotel room.”
Ew, that sounds wrong. But it’s the truth for London hotel 51 Buckingham Gate, which has started marketing the “Jaguar Suite” — an $8,615-a-night hotel room based off a partnership with, you guessed it, the Jaguar car company.
I’ve heard of making a car feel roomy… so is this like making a room feel car-y?
3:48 pm, August 30th | by Hillary Reinsberg
It’s Warren Buffett’s 81st birthday and everyone’s looking for a way to celebrate. How could you resist? The New York Observer joined in on the fun by showing the world a business card they once got from Buffett’s “Chief of Staff,” Devon Spurgeon, at the premiere party for Too Big To Fail.
Rather than a phone number, the business card reads “Don’t Call Me. I Call You.” Hilarious. But who is this Spurgeon lady, and why haven’t we heard of her before?
2:07 pm, August 30th | by Amy Tennery
How else to explain this, her latest Halloween costume?
“Motha,” as featured on the cover of this year’s Martha Stewart Halloween special edition (which came out today), is the latest in her series of legendary yearly Halloween getups. These are often elaborate, nearly impossible to recreate getups, hotly anticipated each year by
probably just me Halloween enthusiasts the world over.
1:00 pm, August 30th | by Hillary Reinsberg
Sam Zell is moving south – and east. Within the next two weeks, the billionaire real estate mogul is entering the real estate market in Colombia, which he says is “the next star of South America.” And he’s also working on projects in India, while spending less time investing in the United States, says Bloomberg. Why’s he ditching the US of A?