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Jay Leno Car Collection: What's The Value? How Did Jay Get Started?

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Jay Leno is arguably more famous as a stand-up comic and former Tonight Show host than he is as a car collector, but these days, it might be neck and neck. As such, his famous collection of automobiles is definitely worthy of discussion, especially for those curious about its estimated total value.

It's part of the Leno lore that before he made it big as a comedian in Los Angeles, he worked a day job as a car salesman while working on his act by night. Even before that, the young Leno had a passion for automobiles, and before he even earned enough money to become a car collector he purchased his first one for just $350. Earlier this year, he told CNBC the tale:

"I bought a '34 Ford pickup truck and it didn't run and my dad said, 'You've got two years before you get your license, so get busy working on it. I learned how to fix it and make it run."

Technically speaking, that was the beginning of what is now a world-famous collection of cars, totaling some 170 cars and over a hundred motorcycles. As for its estimated value, that can be anywhere from $50 million to $100 million. Among the crown jewels of his collection, at least from the standpoint of financial value, he reportedly has several cars that are worth a million bucks or more all on their own. There's a 2014 McLaren P1 said to be worth about $1.35 million, but the other most valuable pieces of the collection are classics. Classics like a $1.8 million 1955 Mercedes 300SL Gullwing Coupe, which is joined by priceless one-of-a-kind pieces like his 2006 GM EcoJet.

Frederick M. Brown/Getty Images

Part of Leno's car collection is kept in a Batcave-like structure underneath his home (he reportedly has an elevator there straight from his bedroom), but the bulk of it is at a separate facility in Burbank. And the Batcave comparison goes even deeper, since one of the other highlights of his collection is the Chevrolet V8 Batman Tumbler, as seen in the Christopher Nolan Batman films! Back in 2010, his collection was used as the basis for many of the classic car designs in the 1940s-set video game LA Noire.

Leno's love of novelty repeatedly comes through in his car collection, as in the alien-like Aptera Electric Car or Ariel Atom. And unlike many car collectors, Leno enjoys driving his automobiles as well, often seen tooling down the street in some unusual vehicle or another.

Today, with his Tonight Show days behind him, Leno's car collection is a bigger part of his public persona than ever. He hosts a web/television series for NBC called Jay Leno's Garage where he does car and motorcycle reviews and shows off some of the most interesting and prized pieces in his collection.

Read more: Jay Leno Car Collection: What's The Value? How Did Jay Get Started?


Even Billionaires' Funerals Reflect Their Vast Wealth

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I suppose when you're worth billions, you want to reflect that right up until your dying day and then some. This may explain the new trend of the rich and powerful using their funerals to flaunt their wealth. From $60,000 gold-plated coffins delivered to the grave yard via Rolls Royces, to destination funerals in exotic locations, today's billionaires have no shortage of ways to continue to spend their money, even after their deaths.

There's a new niche industry of advisers who are prepared to meet the demand for these lavish funerals. Even some wealth managers are prepping their clients by telling them to face their own mortality and plan the funeral they want. This not only helps the grieving family, but it's also a tax break. The lavish funeral has become wealthy people's last display of their power and wealth.

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Examples of these over-the-top celebrations of life include being serenaded by a gospel choir. Others fly their loved ones to an exotic destination, so their family and friends can watch their body being pushed out to sea and set on fire like a Viking warrior. Custom made Rolls Royce Phantom VII hearses with a fleet of 25 matching Rolls Royce sedans are owned by the A.W. Lymn funeral home in the U.K. and according to them, are sought after internationally. According to the funeral home, they've gotten requests to fly the cars to Russia, the U.S., and many other places.

At the recent funeral of a fashion designer, the event planner assembled 120 gospel singers to sing to the casket as it was carried from the church. A marching band performed at another funeral, and once, the planner had a hall at Lincoln Center covered in blue hydrangeas so that it looked like his late client's home in the Hamptons.

At the funeral for a world-class boxing coach, professional fighters in suits jumped into the ring and sparred as the body was carried out.

Of course, these funerals are by invitation only, much like a wedding.

If you would like to be interred forever more in a crypt beneath New York's Basilica of St. Patrick's it will run you $7 million. Apparently, three prominent families have expressed interest in this eternal resting place, which is one of the last full body burial spots in Manhattan. If you're interested in this option, you'd better grab it, the crypt is pretty exclusive. It can only hold nine coffins and 10 cremated remains.

And really, to spend eternity in a gold plated casket in the catacombs below a 200-year-old church sends a final message about how important you thought your life on earth was.

Read more: Even Billionaires' Funerals Reflect Their Vast Wealth

The Insane Perks That Come With High Priced Luxury Estates

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For most people, buying a house is enough. I mean, you get a new (or new to you) home to decorate and inhabit and make memories in. For billionaires, it takes a bit more to entice them to part with their money for a new residence. High-end estates come with some insane perks like Lamborghinis, helicopters, and yachts. The most expensive and exclusive home out there comes with a whole lot of toys to attract not just buyers, but buyers seeking a certain kind of lifestyle. The real estate agents representing these properties aren't just selling mansions, they are selling dreams.

Developers and brokers must constantly up their games when it comes to marketing mansions and luxury penthouses to a wider and wealthier audience. From giving properties names to created Hollywood style trailers for the estates, buyers of these $30 million to $1 billion homes expect the best.

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Nile Niami is a former movie producer who is the CEO of Skyline Development. He is the man behind The One in Bel Air and Opus in Beverly Hills. He is in the risky business of building spec mansions in some of LA's hottest and priciest neighborhoods. The One is a 105,000 square foot, fully furnished 20-bedroom mansion with five swimming pools, a bowling alley, helipad, casino, nightclub with its own VIP access, and a lounge with walls made of tanks full of jelly fish. The One is on the market for $500 million.

The Opus is tiny in comparison. At 20,500 square feet, the $100 million mansion originally included a 170 bottle Cristal vault, Damien Hirst paintings, and an exotic car museum with 10 cars including a gold Rolls Royce Dawn and Aventador Roadster. That didn't exactly fly with buyers so Niami got rid of the cars and some of the art and slashed the price to $68 million.

All those extras are called a vibe and rock star Lenny Kravitz's interior design firm specializes in it. Kravitz Design created the interiors for the $38 million Hollywood Hills home called The Stanley House. The home has a night club vibe with mood lighting, velvet couches, and a state of the art audio system.

The highest-priced properties used to sell themselves. After all, it takes a certain kind of buyer to drop $30 million or more on a 10,000 square foot or larger home. However, today's competition to sell these estates is stiff. The incentives developers built into the properties sets them apart.

The $39 million Regalia Penthouse in Sunny Isles Beach, Florida comes with a $500,000 rare pink diamond. Nearby, Porsche Design Tower has a custom car elevator that brings the homeowner's pricey cards from the lobby to the doorstep of the condo, no matter what floor it is on. Delray Beach's $20 million Sundara estate includes a replica of a Chanel boutique for a dressing room and a walk-in Nike Air Jordan sneaker man cave.

At the Turnberry Ocean Club, your $3.9 to $35 million property comes with a free one year membership to Turnberry Isle Resort's Country Club, private jets, and marina access.

The $35 million palatial Renaissance mansion The Palazzetto is located inside Rome's Palazzo Albertoni Spinola will go up for auction in October and offer 50% off property taxes, Renaissance frescoes, and a professional staff that includes attorneys, architects, accountants, a property manager, and a handyman.

What will the developers of this mega mansions with high price tags think of next?

Read more: The Insane Perks That Come With High Priced Luxury Estates

JD.com Founder's Fortune Plummets After Arrest On Rape Allegations

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Shares of the Chinese e-commerce giant JD.com took a plunge recently following the saga of its billionaire CEO. Richard Liu was arrested in Minnesota on August 31 on allegations of criminal sexual misconduct. The stock initially fell by 6% and wiped out $466 million of Liu's $9 billion fortune. He was released a day after his arrest and not charged with the crime. JD reported that Liu was wrongly accused.

On September 18th, it was revealed that Liu was arrested on allegations of rape. He was not charged, but he continues to be under investigations by the authorities for the alleged rape.

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In 1998, Richard Liu started JD.com in Beijing with $2,000, originally calling it Jingdong. He was a distributor of magneto-optical products that powered minidisc players, the precursor to iPods. By 2003, he had opened 12 stores. The SARS outbreak in 2003 led to staff and clients of Jingdong staying home to avoid infection and forced Liu to rethink his business model. Liu launched his first online retail website in 2004 and founded JD.com later that year. In 2005, Liu closed all of his brick-and-mortar stores and become an e-commerce business. The company has become one of the leading e-commerce businesses in China and is known for not selling fake goods, unlike its competitors Alibaba and Pinduoduo. At the end of the second quarter of this year, JD had 313 million active users and 170,000 employees.

The news of his arrest was shocking. Liu has a high profile in China's business world and is involved with a number of top businesses in the west including Google and Walmart, two shareholders in JD.

Liu is also an active philanthropist. He and his wife donated $80 million last year to various causes.

This is not the first controversy for Liu. At a party in his $18 million Sydney penthouse in 2015 one of his male guests was accused of sexually assaulting a female guest. The media reported that Liu attempted to sue to keep his name out of the criminal case. He was unsuccessful.

Liu's arrest in Minnesota was heavily covered in China. It is the latest bad news for JD, which reported a $334 million loss on is operations in the second quarter.

Read more: JD.com Founder's Fortune Plummets After Arrest On Rape Allegations

Jay-Z Has Earned Almost $77 Million This Year

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Jay-Z has been pretty financially set for a while now, and even though at 48, he's extremely old in the hip hop world, he's not showing any sign of slowing down, earnings-wise. Jay's made an estimated $76.5 million in 2018, with his earnings coming in not just from recording and performing, but also his involvement in various other business ventures.

That sum makes him the highest-earning rapper of the year, unseating Sean "Diddy" Combs, who's held that slot for the last three previous years. And when you break down the year he's had, it only makes sense. In 2017, he released his 14th number one album 4:44, an accomplishment that has only been bested by no less of an iconic recording act than The Beatles. Much of his revenue from this year has come from his big tour in support of that record, but by no means all of it: Earlier this year, he and his wife Beyoncé released their first joint album as The Carters, Everything Is Love, and embarked on their own highly successful (and lucrative) stadium tour On The Run II.

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Those career highlights aren't Jay's only sources of income, though. He has big stakes in companies like Roc Nation, music streaming service Tidal, Armand de Brignac champagne, and a list of startups that seems to just keep growing. If his luck and business acumen continue to hold out, he's expected to hit billionaire status in the not too distant future, with a net worth already at some $930 million and climbing. If you combine his holdings with that of his wife, the two are already on the books as a billionaire couple.

Touring being such a big part of Jay-Z's income isn't expected to change either. In 2017, he signed a huge $200 million deal with Live Nation to stay on the road for much of the next decade.

Read more: Jay-Z Has Earned Almost $77 Million This Year

Paul Manafort Asked Robert Mueller To Seize His Trump Tower Apartment Over His Bank Account

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In one of those typical 2018 touches that seems like the invention of an overly indulgent screenwriter, former Trump campaign chief Paul Manafort had an apartment at none other than Trump Tower in Manhattan. And when it came time to negotiate his plea deal with Mueller, CNBC reports that he asked for that apartment to be seized in lieu of one of the four bank accounts in his name being targeted by prosecutors.

In addition to his cooperation with the feds' investigation into the alleged Russian collusion in the 2016 presidential election, Manafort is giving up an estimated $46 million worth of both cash and real estate, including the Trump Tower apartment located in the same building as President Trump's own private New York residence.

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Asset forfeitures are not an unusual occurrence in cases like Manafort's. He pleaded guilty to two counts of conspiracy in federal court, and is believed to have received multiple financial windfalls as a result of his involvement in the alleged conspiracy. Among Manafort's other assets being seized by authorities, as part of his plea deal, are two Manhattan condos, a townhouse in Brooklyn, and a house in the Hamptons, the latter on which authorities say he dropped more than $5.8 million in improvements and landscaping over the last six years.

That's in addition to the funds located in three bank accounts, one at Capital One and two at the Federal Savings Bank, plus a Northwestern Mutual insurance plan. Thanks to Manafort's having given up his Trump Tower apartment, he'll get to keep one additional bank account, as well as his home in Arlington, Virginia.

Manafort's plea deal will likely allow him to reduce the 17 to 20 years in prison he was facing as a result of his convictions, although he will still almost certainly serve some time in prison.

Read more: Paul Manafort Asked Robert Mueller To Seize His Trump Tower Apartment Over His Bank Account

The 10 Richest Royal Families In The World

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It is easy and convenient to assume that Queen Elizabeth II is the richest royal in the world. She certainly is one of them, with a $600 million net worth, but that's only good enough to make her the fourth-richest royal in the world. However, Queen Elizabeth can console herself with the fact that she and her family are the most recognizable royals in the world. Of the 10 royal family members on this list, the poorest, King Philippe of Belgium, has a $13 million fortune. The wealthiest, Grand Duke Henri of Luxembourg, has a $4 billion fortune.

#10. King Philippe, Belgium
Net worth: $13 million
Fun fact: Belgium's Civil List covers all expenses for King Philippe, which were roughly $13.8 million in 2013.

#9. King Felipe VI, Spain
Net worth: $20 million
Fun Fact: In 2015, the King of Spain slashed his salary by 20% to $267,447. His family's royal life includes eight palaces, five country residences, and 10 monasteries and convents and costs Spain $8.9 million a year.

#8. King Harald V, Norway
Net worth: $30 million
Fun Fact: King Harald V is not required to pay taxes on his wealth. His lifestyle reportedly costs Norway $72 million a year.

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#7. Queen Margrethe II, Denmark
Net worth: $40 million
Fun Fact: Queen Margrethe II has been the monarch of Denmark since 1972.

# 6. King Carl XVI Gustaf, Sweden
Net worth: $70 million
Fun Fact: King Carl XVI Gustaf was paid $7.6 million for his official duties in 2015.

# 5. Queen Beatrix, Netherlands
Net worth: $200 million
Fun Fact: She abdicated the throne in 2013. The current King of Netherlands is King Willem-Alexander.

# 4. Queen Elizabeth II, England
Net worth: $600 million
Fun Fact: The British royal family's fortune is made up of art, investments, trusts, and property. Most of it comes from The Crown Estate which includes Buckingham Palace and the crown jewels.

#3. Prince Albert II, Monaco
Net worth: $1 billion
Fun Fact: Prince Albert II reportedly personally owns a fourth of the land over which he reigns.

#2. Prince Hans Adam II, Liechtenstein
Net worth: $3.5 billion
Fun Fact: Prince Hans Adam II receives an untaxed expense allowance in the amount of nearly $271,000. The enormous net worth of the House of Lichtenstein comes from its privately owned bank, LGT Group and investments.

# 1. Grand Duke Henri, Luxembourg
Net worth: $4 billion
Fun Fact: The Grand Ducal Family does not receive a salary, but they do get about $325,000 every year since 1948 to carry out royal functions.

Read more: The 10 Richest Royal Families In The World

Indian Billionaire Pallonji Mistry's $15 Billion Fortune Tied Up In Legal Fight

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Pallonji Mistry is not having an easy go of it lately. About 85% of his $15 billion fortune is locked up in a legal battle with the largest conglomerate in India. Mistry is in conflict with the Tata Group. This fight began in 2016 with a boardroom coup when Mistry's son Cyrus was forced out as chairman of Tata. Mistry, who is 89, is one of the largest shareholders in the $100 billion Tata Sons Ltd. Since the boardroom coup, his family has filed a number of lawsuits against Tata's board.

Now, Tata has made a move to restrict shareholders from freely selling their stake, which is where Mistry comes in. As mentioned, he is the largest shareholder in the conglomerate and now he cannot just choose to unload his stake. Mistry has an 18.4% equity stake in Tata. He cannot sell that stake without the approval of a board his family has been suing and fighting with for two years.

Cyrus Pallonji Mistry (Photo credit DIBYANGSHU SARKAR/AFP/Getty Images)

Tata Sons has traditionally been a closely held private company but was considered, for all intents and purposes, to be a public limited company under an old legal provision due to the sheer size of the company. That allowed shareholders more flexibility in selling their shares. However, the law was changed a number of years back, which allowed Tata's shareholders to approve a change to its legal status despite the objection from Mistry's son.

Recently, a court in New Delhi heard testimony on a plea to put the conversion of Tata's status on hold. It is expected that this legal fight will end up in India's highest court, since whomever loses this initial battle will have the right to appeal.

Mistry's company and Tata Sons have been linked financially since 1927. Mistry's family began acquiring equity in Tata in the 1930s. Mistry inherited the Tata stake from his father. The Shapoorji Pallonji Group was founded by Mistry's father in 1865 and grew into one of the largest construction companies in India. Shapoorji Pallonji helped build a number of the Tata Group's steel mills and automobile factories. The company also built some of Mumbai's largest buildings including the HSBC building, and the Reserve Bank of India building.

The Tata Group is a massive Indian multinational conglomerate made up of more than 100 companies. The Tata Group owns Tata Motors, Tata Steel, Tata Power, Tata Global Beverage, Tata Chemicals and many other companies. The crown jewel of the Tata empire is Tata Consultancy Services, which is the largest software services provider in Asia right now.

Mistry's son Cyrus became the head of the Tata Group in 2012. He was overthrown in October 2016, which set off one of the worst corporate fights in the history of India.

The decision to take Tata private puts Mistry in a tight spot. He can be forced to sell his stake, but he needs Tata to sign off on the person he sells to. Tata Sons can choose to preempt any sale of shares. So, while Mistry has a paper net worth of $15 billion, he cannot touch 85% of that right now.

Read more: Indian Billionaire Pallonji Mistry's $15 Billion Fortune Tied Up In Legal Fight


Tom Clancy's Widow Lists Their Waterfront Maryland Estate For $6.2 Million (With Amazing Drone Video Tour!)

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We recently wrote a detailed article about the late author Tom Clancy. As a huge fan of his Jack Ryan books, movies and TV show, I wanted to figure out exactly who benefits from his estate today – an estate that likely generates $10-20 million a year in various royalties and licensing fees. We learned that a good chunk of his former and future assets were left to Tom's widow, a woman named Alexandra Marie Llewellyn.

Outside of his cash and intellectual property, Alexandra inherited Tom's fairly impressive real estate portfolio. The jewel of that portfolio included a $16 million penthouse in Baltimore and a 537-acre waterfront estate in Huntington, Maryland.

Recently, Alexandra listed that waterfront estate for $6.2 million.

The estate comes with a 17,000 square foot mansion, a swimming pool with a retractable glass roof, tennis courts, sports field, guest apartments and more. The main house has 7 bedrooms, library, an 8-car garage and a shooting range in the basement.

Here's a video tour of the incredible property:

Read more: Tom Clancy's Widow Lists Their Waterfront Maryland Estate For $6.2 Million (With Amazing Drone Video Tour!)

Alibaba's Jack Ma Doesn't Want You To Be Like Him

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Billionaire Jack Ma has been the richest man in Asia, but at a recent address at the World Economic Forum, he made it clear that he doesn't think it's a good idea for anyone to try and copy his success. As per a report from CNBC, he emphasized that despite his massive wealth and success in the business world in China he sees himself as a regular person whom it wouldn't pay to emulate:

"When I mention Jack Ma, you've got your own definition, but that's not me entirely … For me, I'm still an ordinary person who was born and raised in Hangzhou."

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Ma was speaking on the sort of personal brand that he's found himself with as he's become the richest person in China. He says he appreciates the recognition he's received and understands the temptation to look to him for a way to find success in one's own business ventures. But he doesn't see himself "legendary" or "someone of significance," and that instead thinks that it makes more sense for those who might be thinking about copying him to go their own way instead. It's the kind of advice you might expect from a former teacher like Ma, who went on to tie his thoughts into the subject of education:

"We need to know about other people. But, more importantly, we need to know about ourselves … This, I think, is the essence of education. Being you, not being Jack Ma … "Don't imitate anybody; just be yourself. That's very important."

The words come as Ma recently announced that he was planning to step down as the CEO of Alibaba and go back into teaching. He hasn't specified exactly what he's going to do once he retires from the business world apart from that, but his recent speech shows that he already has his mind on sharing some of the wisdom he's accumulated over the years.

Read more: Alibaba's Jack Ma Doesn't Want You To Be Like Him

What Happens To A Player's Money If He Dies While Under Contract?

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We saw a pretty fascinating event unfold earlier this NFL season. The Bills' Vontae Davis retired in the middle of the game, saying that he realized he "shouldn't be out there anymore." As far as we know, that's never happened before. Sure, players retire in the middle of a season, but during a game? That's unheard of.

It's something the NFL has to be prepared for, though – or at least needs to be able to react quickly. Retired players are one thing, but what about when professional sports gets a bit more morbid? What happens with a player's contract if he dies?

The short answer, of course, is that it depends. Each sport prepares for a tragedy in its own ways, and some have different policies based on the cause of death or other external factors.

In Major League Baseball, contracts are fully guaranteed, whether the player dies, suffers a career-ending injury, or is Bobby Bonilla. The Cardinals' Darryl Kile died of a heart condition in 2002 and his estate received the $8 million he was owed.

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In recent years, though, teams are writing in contract details that would make the deals non-guaranteed based on player conduct. For example, if a player was operating a vehicle while drunk, or participating in potentially dangerous activities like surfing, mountain climbing or jai-alai, their contract could be voided.

When the Royals' Yordano Ventura died in January 2017, he was still owed about $20 million through the 2019 season. The money owed to Ventura would go to his estate, which includes his wife, three children, and possibly his mother.

MLB's Collective Bargaining Agreement makes it standard for each club to take out a life insurance policy on a player, with the team serving as the sole beneficiary. The policy pays 100 percent of the first $1 million of salary cap obligations and 75% of the remainder, up to $30 million. In Ventura's case, the Royals would only owe a bit over $4 million towards Ventura's contract.

The toxicology reports from Ventura's car crash were never released. If he was found to be under the influence, though, the Royals could have potentially voided his contract and owed no additional money.

Across all sports, life insurance will typically kick in and give some or all of the money to the player's estate; this is especially true in the NBA. When Bobby Phills was killed in a car crash in 2000, his contract worth $20 million was fully guaranteed and paid to his family.

Nowadays, the salary also won't count against a team's salary cap. Chris Bosh's NBA career is all but over after a life-threatening blood clot issue forced the Miami Heat to part ways with him. Bosh will receive the remaining $52 million that was on his contract, but that money won't count against the salary cap for the Heat.

The Heat's agreement with Bosh is a sign of how the times have changed for professional teams. In the summer of 1993, the Celtics' Reggie Lewis died with three years left on a five-year deal worth almost $15 million. All of the money went to Lewis's estate.

However, the Celtics could only spend $480,000 on a replacement for their former star. And his contract continued to count against the salary cap, effectively hamstringing the Celtics for years. The salary cap back then was just a shade over $15 million per year, and Lewis's contract accounted for about 20 percent of that.

In the NFL, a player's death is treated just like a release or trade. His salary ends and any bonuses that were paid to the player but not yet charged to the salary cap are brought forward as a charge against the cap. When the Redskins' Sean Taylor was killed in 2007, his signing bonus charges were counted on the team's 2008 salary cap book.

But the team was not liable for the remaining base salaries or upcoming workout bonuses on Taylor's contract. All of that remaining money equaled nearly $4 million. Instead, Taylor's family received a $600,000 insurance settlement.

When a player dies while under contract, it's a trying time for everyone. Families, friends, teammates, and organizations are all grieving. But just like in the world outside of sports, life must go on.

Read more: What Happens To A Player's Money If He Dies While Under Contract?

Dan Wilson Net Worth

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Dan Wilson net worth: Dan Wilson is an American singer, songwriter, musician, and producer who has a net worth of $16 million. Dan Wilson was born in Minneapolis, Minnesota in May 1961. He is known for being the front man of the band Semisonic and writing several popular songs. Semisonic formed in 1995 and broke up in 2001 before reuniting in 2017. They released the albums Great Divide in 1996, Feeling Strangely Fine in 1998, and All About Chemistry in 2001. Their best known single "Closing Time" reached #1 on the US Alternative chart and #2 on the Canadian Alternative chart. He was a member of the band Trip Shakespeare and has released the solo albums Free Life, Love Without Fear, and Re-Covered. Dan Wilson has written songs including "Not Ready to Make Nice" by the Dixie Chicks and "Someone like You" by Adele. He won Grammy Awards for Album of the Year for 21 by Adele and Taking the Long Way by Dixie Chicks as well as Song of the Year for "Not Ready To Make Nice" by Dixie Chicks.

Read more: Dan Wilson Net Worth

Jesse Duplantis Net Worth

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Jesse Duplantis net worth: Jesse Duplantis is an American Evangelical Charismatic Christian minister who has a net worth of $20 million. Jesse Duplantis was born in New Orleans, Louisiana in July 1949. He is the founder of Jesse Duplantis Ministries. He preached his first sermon in 1976 and was introduced on TBN by John Hagee as "The Apostle of Joy". He became a full-time evangelistic minister in 1978 and combines his comic and musical talent. He became the first Louisiana Director of Christians United For Israel in 2006. Jesse Duplantis served on the Board of Regents of Oral Roberts University. In 2018 he asked his followers to donate money toward a private jet valued at $54 million. As an author he has published the books Ministry of Cheerfulness, Heaven: Close Encounters of the God Kind, Breaking the Power of Natural Law: Finding Freedom in the Presence of God, Jambalaya for the Soul, God Is Not Enough, He's Too Much!, Wanting a God You Can Talk to, One More Night with the Frogs, What in Hell Do You Want, The Battle of Life, The Everyday Visionary, and Why Isn't My Giving Working?: The Four Types of Giving.

Read more: Jesse Duplantis Net Worth

Justin Kan Net Worth

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Justin Kan net worth: Justin Kan is an American entrepreneur and inventor who has a net worth of $100 million. Justin Kan has co-founded the live video platforms Twitch.tv and Justin.tv. He has also co-founded the mobile social video app Socialcam. Kan is a partner at Y Combinator which is a venture capital firm. He has attempted to broadcast his entire life which led to the term "lifecasting". He also started The Drop which is a Reddit-style electronic music discovery platform. Justin Kan is a contributor to the technology news website TechCrunch. He earned degrees in physics and philosophy from Yale University. He also launched the outsourcing platform Exec in 2012 which was purchased in 2014 by Handybook. He launched his 24-7 live feed Justin.tv in 2007 and his lifecasting lasted about eight months and was closed in 2014. In 2014 Twitch was acquired by Amazon.com for $970 million. Twitch had raised over $45 million through several rounds of investments that diluted each owner's stake significantly. It's estimated that each of the four Twitch founders owned around 12.5% of Twitch at the time it sold. That means Justin's pre-tax cut would have been around $120 million.

Read more: Justin Kan Net Worth

Jessica Parido Net Worth

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Jessica Parido net worth: Jessica Parido is an American reality television personality who has a net worth of $1 million. Jessica Parido was born in Orange County, California in December 1988. She is best known for starring on the reality television series Shahs of Sunset from 2012 to 2016. She was married to Mike Shouhed from March 2015 to June 2017. She is also a social media personality with more than 400 thousand followers on Instagram. Jessica Parido also works as a nurse.

Read more: Jessica Parido Net Worth


Jaylon Smith Net Worth

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Jaylon Smith net worth: Jaylon Smith is an American professional football player who has a net worth of $4 million. Jaylon Smith was born in Fort Wayne, Indiana in June 1995. He is a linebacker who played at Bishop Luers High School where he won the Butkus Award for best linebacker in the country and was named Mr. Football of Indiana. Smith played his college football at Notre Dame where he won the Pinstripe Bowl in 2013 and the Music City Bowl in 2014. He was named a second-team All-American in 2014 and was the Independent Defensive Player of the Year. Jaylon Smith won the Dick Butkus award in 2015 and was a consensus All-American. He was first-team All-Independent in 2014 and 2015. Jaylon Smith was drafted #34 overall by the Dallas Cowboys in 2016. He signed a four year rookie contract for $6.49 million with a $2.9 million signing bonus in 2016. His brother Rod Smith has played for the Dallas Cowboys.

Read more: Jaylon Smith Net Worth

How The Mars Family Became One Of The Wealthiest Families On The Planet With A Combined Net Worth of $90 Billion

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We live in an era of truly incredible wealth and vast inequality between the richest billionaires and every day middle class people. The 25 richest families in the world have a combined net worth of $1.1 trillion. The Mars family is the 3rd wealthiest family in the world with a combined $90 billion net worth.

The Mars family, of course, is the family behind the sweet sweet candy empire that has brought us Snickers, M&Ms, Milky Way, Twix, and so many other treats. Mars, Inc. is the sixth-largest privately owned business in the U.S. Worldwide sales top $33 billion. Mars Inc. is in its fourth generation of family leadership.

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Mars, Incorporated was founded by Franklin "Frank" Mars. Frank was born in 1882 in Minnesota. As a young boy he learned to hand dip chocolate candy from his mother. By 1910, he was selling candy wholesale in Tacoma, Washington. In 1920, he moved to Minneapolis and founded the Mar-O-Bar Co. to manufacture and sell chocolate candy bars. The company later incorporated and became Mars, Inc. In 1923 he made a candy bar that was his son Forrest's idea – The Milky Way. It became the company's best selling candy bar. Mars introduced the Snickers bar in 1930. Frank Mars died from a heart attack at age 50 in 1934 and passed the family business down to his son Forrest Mars, Sr.

Forrest. Sr. raised his three kids –Forrest Jr., John, and Jacqueline to be frugal and private. They were sent to the best schools, but taught by their father never to trust outsiders – especially the press. As Forrest Sr. approached old age, his sons Forrest Jr. and John were eager to take over the family business. One year in the 1990s, just a few years before his father's death, John Mars lost his temper and reportedly yelled, "How long do I have to work for you, Dad?!" John was 60 years old at the time.

The Mars family and their company have been hugely successful, however, they made a huge misstep when they turned down the product placement opportunity for M&Ms in E.T. Instead, Hershey's Reese's Pieces got the nod and Mars has been losing ground to their main competitor ever since. Mars is the second biggest candy company in the United States, lagging just a bit behind Hershey.

Forrest Mars, Jr. died in 2016 and Mars, Inc. is now 100% owned by John and Jacqueline Mars. Victoria Mars is the current chairman of the company, a position her father Forrest Mars, Jr. and grandfather Forrest Mars, Sr. once held. She attended Yale and received her MBA from the Wharton School at the University of Pennsylvania. She has spent her entire career in the family business and has been chairman of Mars, Inc. since 2014.

The Mars family is determined to keep the company in the family. If passing the family business to the next generation is not possible, the Mars family would be much more likely to sell to a larger company – perhaps Nestle – especially if that sale would stick it to their rival Hershey.

Read more: How The Mars Family Became One Of The Wealthiest Families On The Planet With A Combined Net Worth of $90 Billion

The Risk Filled Trend Of Spec Mega Mansions In Los Angeles And The Developers Who Build Them

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You would think that the ultra high end real estate market has peaked. And you'd be mostly correct to think that. However, a handful of ambitious developers are forging ahead building some of the most expensive and enormous homes in the country. Several of these spec mega mansions are in Los Angeles. These developers are building over the top houses that are monuments to excess and sell for hundreds of millions – the priciest hit the market at $500 million.

One of the developers is Bruce Makowsky, whose spec home is on the market for $188 million. Makowsky first made his fortune selling leather bags on QVC. Raj Kanodia is another Los Angeles developer with a $180 million spec mansion in Bel Air to sell. Kanodia also made his fortune outside of real estate. He's a well known plastic surgeon that specializes in nose jobs. Kim Kardashian is one of his patients. Scott Gillen made the money to build his $85 million spec mansion in Malibu by directing commercials for BMW and Mercedes Benz. Nile Niami, who is building The One, a $500 million house being built in Bel Air and Opus a $68 million house in Beverly Hills, did special effects in the makeup department for low budget horror films.

Nile Niami a(Photo by Araya Diaz/Getty Images)

Niami is a particular kind of character. He is 50 with a deep tan. He recently returned from a celeb-studded fasting retreat where he dropped 11 pounds for his trip to Burning Man. He lives in a 10,000 square foot home with a 1970s-esque black leather bed and a collection of vintage Playboy magazine covers. He has considered pitching his own reality show called "The Mansion Maker." The only thing that stopped him from taking his brand to TV was one of his investors, who threatened to pull his funding if he went on TV. Niami finds the whole spec developing thing so stressful that he's launching a fast casual rolled pizza chain in 2019 to have a second income.

Makowsky is the developer behind the 2014 mansion that devolved into a bidding war between Beyoncé and Jay-Z and Minecraft creator Markus Persson. Persson won the bidding war and bought the house for $70 million. Makowsky sets himself apart from the other brash and bold mega mansion developers in that he's building his $180 spec mansion with no debt.

Kanodia has a loan from the Bank of Internet to build his Bel Air manse. Credit Bank of Los Angeles and an unnamed Canadian investor are funding Niami's $500 million foray.

Spec developers are usually shooting for a return on investment of about 50%, though getting 30% is more common.

Kanodia walks to his $180 million spec mansion every morning from his own mansion across the street. He meditates and lays flowers on a shrine to the Hindu gods Ganesh and Lakshmi. He calls it his insurance policy.

Makowsky's $188 million mega mansion is known as Billionaire. He recently turned down $2 million a month in rent from a Saudi family.

All these mega mansions are eclipsed by Niami's The One. It has 20 bedrooms, a room with jellyfish aquariums as walls, and a VIP nightclub. At $500 million, it is nearly five times more expensive than the current Los Angeles record.

Read more: The Risk Filled Trend Of Spec Mega Mansions In Los Angeles And The Developers Who Build Them

Nike Stock Hits New High, Here's How Rich You'd Be If You'd Invested 10 Grand 10 Years Ago

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Looking back at the stock market and investing imaginary money in the past is a little like playing old lottery drawings for fun, but it can also be instructive with regards to a particular stock's performance. Take Nike, for instance, which risked a significant amount of controversy among certain circles by signing up Colin Kaepernick for a mega-high-profile advertising campaign. As it turns out, that was a risk well taken, because the already prosperous company hit a new high on the stock market, as CNBC reports that it's the best performing stock of the year on the Dow Jones.

Nike has seen a 36 percent increase in the last week alone, and it's doing a lot better than many of its major competitors, including Foot Locker and Sketchers. Roughly 14 percent of Nike's current stock market gains occurred over the last three months, but let's look a little farther back for this little hypothetical thought experiment: If you'd had $10,000 to burn in the early part of 2008, and decided to invest it in Nike stock, that $10,000 investment would be worth more than $61,000 today. Not a bad showing, especially given that Nike wasn't exactly an unknown quantity ten years ago.

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Mark Tepper is the president and chief operating officer of Strategic Wealth Partners, and he summed up Nike's appeal for CNBC like this, despite his expressed skepticism about its current valuation:

"They're resilient, and when you have an iconic brand, it can command a premium valuation."

Meanwhile, CNBC points out that even though it can be interesting to look at how a hypothetical investment in a specific stock might have turned out, most experts in the field (including Warren Buffett, Mark Cuban and Tony Robbins) would advise against sinking a lot of money into a single stock. Instead, they say, it would be better to put that ten grand into an index fund which includes a large variety of stocks and ameliorate the potential risks involved in hanging your fortune on a single one.

Read more: Nike Stock Hits New High, Here's How Rich You'd Be If You'd Invested 10 Grand 10 Years Ago

Ultra-Rich Celebrities And Billionaires Are Taking out MASSIVE Mortgages To Buy Their Massive Mansions

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We like to look at amazing megamansions and estates here at Celebrity Net Worth. We've covered the real estate shenanigans of people like Beyoncé and Jay-Z, Ken Griffin, Adam Levine, Taylor Swift, and Kim Kardashian at length. Most of us can only dream of dropping $30-100 million plus on a home. But one thing we've never really stopped to examine is the massive mortgages that come with these ultra-high end, super luxurious homes. The wealthy people who buy these massive properties are borrowing tens of millions of dollars—at least—to purchase the mansions.

Not all that long ago, the super wealthy paid all cash for their expensive homes. That isn't the case most of the time anymore. The focus on "superjumbo loans" to finance these homes coupled with low interest rates is making it attractive for wealthy buyers to borrow against their real estate and keep their cash freed up for other pursuits.

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For example, Beyoncé and Jay-Z bought an $88 million mansion in Bel-Air last year. Goldman Sachs issued them a $52.8 million mortgage, according to public records. They had an initial interest rate of 3.4%, making their monthly payments a bit more than $200,000. And keep in mind that you pay your mortgage with after-tax money. So paying $200k per month essentially requires $400k every month in pre-tax earnings to be set aside. In other words, every year Beyonce and Jay-Z set aside $5 million of their earnings to pay for their mortgage.

Ken Griffin has an even bigger mortgage. Through a limited liability company, he took out two mortgages with a combined total of roughly $114 million for the construction of his mansion in Palm Beach, Florida in 2016.

Billionaire owner of the NHL's Edmonton Oilers bought a pricey Malibu home earlier this year for $85 million. He took out a 30-year mortgage from UBS Bank USA totaling $47.5 million. That makes Katz's payments more than $200,000 a month.

These "superjumbo loans" make up a small amount of the mortgage market. However, executives at major banks have revealed that even though they typically do just a few of these loans every year, the number has been steadily growing.

There are currently 233 loans of between $10 million and $20 million with balances outstanding in the United States. Nearly 23% of them were originated in 2017 and almost 16% began this year. California overwhelmingly has more of these loans at 123 than any other state. Florida has 40 of the loans and New York has 31.

Loans to well known or famous rich people are often issued by traditional banks like JPMorgan Chase and Goldman Sachs. For these banks, issuing these loans are a way of keeping these high net worth individuals as customers. Of course, banks take risk with issuing so much debt for a single family property. Loan to value ratios and the health of the real estate market in the property's area are taken into account.

For people buying these super expensive properties that don't have an established relationship with a traditional bank, there are other options. A small network of hedge funds and private equity funds will issue loans with higher interest rates on megamansions. Back in the mid-2000s, the private equity firm Fortress Investment Group, issued a loan for Michael Jackson's Neverland Ranch. The interest rate on these types of loans can be 6% or more. Typically, these types of loans are evaluated on a case by case situation and the borrowers are athletes, entrepreneurs, and self-employed people.

Read more: Ultra-Rich Celebrities And Billionaires Are Taking out MASSIVE Mortgages To Buy Their Massive Mansions

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