Miami: Nine more wealthy families and individuals have pledged to give at least half of their fortunes to charity as part of a philanthropic campaign by two of the world's richest men, Warren Buffett and Bill Gates.
The Giving Pledge, which was launched by Gates, the co-founder of Microsoft, and investor Buffett in 2010, said on Tuesday that billionaires joining the campaign included New York-based real estate magnate Stephen Ross.
The announcement came just a few days after Florida lawmakers shot down a bid by Ross's Miami Dolphins NFL team to win tax dollars to help finance a $350 million upgrade of the Sun Life stadium outside Miami.
In addition to Ross, the new group of billionaires taking the pledge included hedge fund manager Paul E. Singer, the founder and president of Elliott Management Corp, and Sara Blakely, the founder of shapewear brand SPANX....
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05:46 AM, May 08, 2013
Warren Buffett accumulates Twitter followers even faster than he makes money. The 82-year-old "Oracle of Omaha" joined the service and sent his first tweet on Thursday, picking up more than 45,000 followers in just under 45 minutes. At the time of posting his followers had surged to about 250,000. "Warren is in the house," Buffett said under the handle "@WarrenBuffett." The handle has now been officially verified by Twitter, but...
12:30 PM, May 03, 2013
New York: An Indian man who worked for billionaire Warren Buffet's charitable foundation has pleaded guilty to stealing thousands of dollars from the organization and could face up to 20 years in prison. Dhaval Patel, 38, is scheduled to be sentenced in November and faces up to five years of probation or 20 years in prison for stealing $ 46,000 from the charity. Patel worked as an international monitor for...
01:30 PM, Aug 23, 2012
A New York court has convicted former Goldman Sachs board member Rajat Gupta of illegally tipping his hedge-fund manager friend Raj Rajaratnam with secrets about the investment bank. ...
10:21 AM, Jun 16, 2012
Mumbai: India's best known stock investor, billionaire Rakesh Jhunjhunwala, doesn't much like the moniker of 'India's Warren Buffett'. "It's not a fitting comparison. In terms of wealth and success and maturity, he's far, far ahead," says Jhunjhunwala in an interview at his office in a prime location in Mumbai overlooking the Arabian Sea. Much like the famed Omaha investor, Jhunjhunwala has made a fortune from some savvy investments - 'Forbes'...
09:18 AM, Jun 15, 2012
New York: Lloyd Blankfein, the Chief Executive of Goldman Sachs Group Inc, told jurors at the insider-trading trial of one of the investment bank's former directors that "all parts" of a 2008 board meeting the two attended were confidential. "If something is discussed in a board meeting, it is confidential," Blankfein said, when asked about a June 2008 board meeting in St Petersburg, Russia, that he and defendant Rajat Gupta...
07:35 AM, Jun 05, 2012
Boston: Berkshire Hathaway Inc Chief Executive Warren Buffett said he has stage 1 prostate cancer but his condition "is not remotely life-threatening or even debilitating in any meaningful way." Buffett, the world's third-richest man, will begin a two-month treatment consisting of daily radiation treatments starting in mid-July, he said in a statement on Tuesday. This will limit his ability to travel during that time, Buffett added. The news from the...
08:32 AM, Apr 18, 2012
New York: Addressing the much-talked about succession plan at Berkshire Hathaway, legendary investor Warren Buffett on Saturday said the sprawling conglomerate has identified his successor. Without disclosing the name of his successor, the octogenarian billionaire in his annual letter to shareholders said the conglomerate's board has had a "great deal of exposure" to the chosen person. A couple of names including India-origin Ajit Jain, who manages the multi-billion dollar Berkshire...
07:12 AM, Feb 26, 2012
Every April, all money roads lead to the Woodstock of capitalists - Berkshire Hathaway's annual conference. Thousands across the world - scores from India - listen to the sermon of the Sage of Omaha: Warren Buffett. The gospel, they hope, will change their lives. Yet, living according to the gospel has been tough for most. Why? Following the form not the function: Buffett looks for companies that grow consistently and...
09:45 AM, Jan 21, 2012
On March 24, 2011, two significant events took place. In the first, millions of Indians sat glued to their televisions as India beat Australia to enter the semi-finals of the cricket World Cup. Sitting in the crowd at the Ahmedabad stadium were many of India's richest businessmen and celebrities. Less than 1,000 km away, in Delhi, the world's second and third richest persons, Bill Gates and Warren Buffett, respectively, were...
01:18 PM, Jan 03, 2012
New York: Bill Gates tops this year's Forbes list of the 400 richest Americans with a net worth calculated at $ 59 billion. Forbes says the Microsoft co-founder saw his wealth increase by $ 5 billion from last year. Investor Warren Buffett ranks second with a fortune of $ 39 billion, though Forbes says the Berkshire Hathaway Inc. chief executive's wealth shrank by $ 6 billion from a year ago....
08:37 AM, Sep 22, 2011
Washington: US President Barack Obama, in a populist step designed to appeal to voters, will propose a "Buffett Tax" on people making more than $1 million a year as part of his deficit recommendations to Congress on Monday. Such a proposal, among suggestions to a congressional supercommittee expected to seek up to $3 trillion in deficit savings over 10 years, would appeal to his Democratic base ahead of the 2012...
09:27 AM, Sep 18, 2011
New York: Warren Buffett will invest $5 billion in Bank of Americas Corp, stepping in to shore up the largest US bank in the same way he helped prop up Goldman Sachs and General Electric during the financial crisis. Bank of America shares rose nearly 26 per cent at one point but gave up most of those gains by early afternoon, standing 10 per cent higher at $7.72. Trade was...
01:47 AM, Aug 26, 2011
New Delhi: Investing, much like contract bridge, is a loser's game which means that the best performers succeed by minimising their own errors and taking advantage of other people's mistakes. The behaviour of most investors today suggests that risk is not uppermost on their minds. Since future returns are driven by perceived risk, the equity market today is not priced for above average returns during the next 12 months. The...
11:18 AM, Jun 07, 2011
Washington: Rajat Gupta, a former Indian American director of Goldman Sachs Group accused of leaking insider information to Galleon Group founder Raj Rajaratnam, has resigned as an adviser to the Bill & Melinda Gates Foundation. "Rajat Gupta has stepped down from his role on our Global Development advisory panel until these matters are resolved," the Seattle based foundation said in a statement. Gupta, 62, who was chairman of the panel,...
12:03 PM, Mar 29, 2011
Cyrus Broacha also talks about Melinda-Bill Gates and Warren Buffet's visit to India. ...
11:28 AM, Mar 27, 2011
New Delhi: The Centre's proposed law making spending on Corporate Social Responsibility (CSR) mandatory is drawing heavy criticism from India Inc. Slamming the government's proposed move saying legislation will bring in abuse, India's biggest philanthropist Azim Premji says there is no need for a law on mandatory CSR spending. Speaking at a press conference with Warren Buffet and Bill Gates, Wipro Chairman Azim Premji said he felt larger companies had...
07:51 AM, Mar 25, 2011
Legendary investor Warren Buffet talks about Berkshire Hathway plans for India. ...
07:47 AM, Mar 25, 2011
Billionaire investor Warren Buffet says that India is a 'dream market for investors' and that the market is growing and getting more prosperous by the day. ...
10:42 PM, Mar 23, 2011
The 80-year-old billionaire investor Warren Buffet is on his maiden visit to India. Speaking exclusively to CNBC-TV18's Shereen Bhan, Buffet the chairman and chief executive officer of Berkshire Hathaway said India is a 'dream market for investors'. "The market is growing, getting more prosperous by the day, businesses are flourishing," he said. Here is a verbatim transcript of his interview. Shereen Bhan: What's happening as far as the global financial...
05:59 PM, Mar 23, 2011
