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Brandon Beck and Marc Merrill Have Made Hundreds Of Millions Off A Video Game Empire

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Video games are big business. From Grand Theft Auto to Fortnight to Minecraft to League of Legends, millions of people are logging on and playing for hours at a time. This translates to big bucks for the creators of these games. Brandon Beck and Marc Merrill of Riot Games are no exception. The duo met when they were roommates at the University of Southern California. Both were business majors and gamers. They bonded over their shared love of video games and Riot Games was born out of their dissatisfaction with the current slate of games a bit more than a decade ago.

Beck and Merrill felt that game developers were not listening to fans. They believed that developers were moving from game to game too quickly, which left the enthusiastic communities of gamers on their last project behind. One day while Beck and Merrill were playing multi player video games together, they came up with the idea of creating a gaming company that constantly released new features to its games to keep it fresh and keep players engaged. They wanted their company to be player focused. Their inspiration came partly from Asian video game designers who offered games for free and charged for additional in game perks. Riot Games was born in 2006.

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Beck and Merrill went to family and angel investors to raise $1.5 million to launch Riot Games on August 31, 2006. They began working on the game that would become League of Legends and sold investors on the plan for their game which would basically be e-commerce. That led to a few rounds of funding totaling $8 million.

League of Legends was released on October 27, 2009 as a free-to-play game. Beck and Merrill welcomed feedback from players of the game to improve it and often took part in online forums to hear the feedback directly.

In February 2011, Ma Huateng's Tencent came calling and paid $400 million for a 93% stake in Riot Games. In December 2015, Tencent purchased the remaining 7% for an undisclosed amount.

In early 2018, reports came out about an aura of harassment at Riot Games. Roughly 28 former and current employees spoke to Kotaku about the discrimination against female employees at Riot. They alleged that ideas from female employees were being overlooked while the exact same ideas from male employees were praised. Some female employees were also overlooked for more senior positions in favor of new male hires. The employees called the environment a "bro culture." Several current and former employees of Riot Games posted on social media sharing their experiences with alleged sexual misconduct and sex discrimination. Others stated that they were aware of several of their current or former colleagues who allegedly encountered issues.

By conservative estimations, Beck and Merrill have each built a $200 million net worth from Riot Games and League of Legends. Riot Games is yet another tech company born in a dorm room. The two USC grads have done well. Both own tens of millions in Los Angeles real estate.

Beck and his wife Natasha shelled out $21.5 million in January 2015 for the former home of former NFL star Michael Strahan. The 15,6000 square foot mansion is in the tony Brentwood enclave of Los Angeles.

Merrill and his wife Ashley, who is the founder of luxury women's sleepwear brand Lunya, own a $4.5 million, 6,522 square foot, 6 bedroom, 7 bathroom home in Santa Monica which they bought in 2011. In March 2014, the Merrills bought an $8 million, 3.26 acre property on a cul-de-sac in the Rustic Canyon area of Los Angeles. They tore down the 10,000 square foot, 10 bedroom, 8 bathroom home. They then spent $9.3 million on the 1.91 acre property next door. That's a $17.3 million price tag for 5.17 acres. And that's not all, the Merrills also own a 4 bedroom, 4 bathroom oceanfront home in Malibu that they paid $13.1 million for. That's about $35 million in Los Angeles property that the Merrills own.

A year ago, Beck and Merrill stepped down from the day-to-day management of Riot Games to focus on creating Riot's next game. A follow up to League of Legends has been promised for years but has not materialized. Fans will be eagerly awaiting the next game from Beck and Merrill.

Read more: Brandon Beck and Marc Merrill Have Made Hundreds Of Millions Off A Video Game Empire


Michael Avenatti Ordered To Pay More Than $4 Million In Back Salary, Owes Millions In Taxes And Back Rent

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Stormy Daniels' attorney and presidential hopeful Michael Avenatti has been ordered to pay $4.85 million to an attorney at his former Southern California law firm by a California judge. Los Angeles Superior Court Judge Dennis Landin issued the ruling after turning down Avenatti's request to move the case to federal court. The opposing side called Avenatti's an attempt to delay the case. He did not appear at the hearing, nor did he file opposing arguments. The judge ruled that Avenatti must pay the $4.85 million because he personally guaranteed a settlement with former employee Jason Frank.

Frank alleged that Avenatti's firm misstated its profits and as a result, he was owed millions. Avenatti alleges that Frank stole his clients. Avenatti issued the following statement regarding the matter:

"Any judgment issued against me will be deducted from the over $12 million that Jason Frank owes me and my law firm Avenatti & Associates as a result of his fraud. We look forward to receiving our check for over $7 million."

Avenatti is eligible to appeal the ruling due to the fact that he never filed opposing arguments in the case.

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This latest ruling is in addition to a May ruling ruling from a US bankruptcy court which ordered Avenatti's former firm to pay Frank $10 million. The $4.85 million is in addition to that amount. In July, Avenatti was accused by the Justice Department of making misrepresentations in the bankruptcy case and ruled that his former firm owed $440,000 in unpaid federal taxes. Avenatti contends that the matter has been resolved. The Justice Department insists that settlement negotiations were in process, but the debt is still outstanding.

Less than an hour after Avenatti's defeat in the L.A. lawsuit, his firm Eagan Avenatti had another setback during a trial when they were evicted from their office space at Newport Beach's chic Fashion Island mall for failing to pay rent for the last four months. The landlord, the Irvine Company, claims Eagan Avenatti owed $213,253 in rent. Avenatti claims that his firm made repairs to the office suite which should be deducted from the rent owed.

Meanwhile, Avenatti was on his way to New Hampshire for the third time. New Hampshire is, of course, the state that kicks off the presidential primaries for the 2020 race. Avenatti is looking at a run for the Democratic nomination. However, his very troubled financial history could be a big issue.

A recent report detailed how Avenatti lived extravagantly while owing millions in unpaid taxes. He has personally owed at least $1.2 million in federal taxes while his law firm owed $2.4 million.

Avenatti's lavish lifestyle of multi-million homes, private jets, and trips to Paris, the French Riviera, and Cabo came to light when his second wife, Lisa Storie-Avenatti filed for spousal and child support during the couple's divorce hearing.

On top of all of this, the IRS claimed in January that Eagan Avenatti owed $2.4 million in taxes. The firm paid $1.5 million in March but as of July still owed $880,582. Avenatti claims that his firm has paid everything to the best of his knowledge.

He has been working to separate himself from his former law firm. He claims that he divested his interest in Eagan Avenatti. He is now operating under Avenatti and Associates.

What seems to be the truth is that Avenatti and Associates owns a 100% stake in Eagan Avenatti. Disassociating himself with his own law firm is a tactic he has used before.

Avenatti said Avenatti & Associates owned a 100 percent stake in Eagan Avenatti.

In 2013, Avenatti partnered with actor Patrick Dempsey in a Seattle based coffee chain called Tully's Coffee. The trouble started almost immediately. He is the central figure in a number of lawsuits in the past four years related to the coffee chain. In early 2013, Dempsey was the public face of Global Baristas LLC, which beat out six bidders, including Starbucks, and bought Tully's more than 40 Washington locations for $9.15 million. The media focused on Dempsey. However, Avenatti reportedly promised to fund the entire deal. The deal to buy Tully's closed in late June 2013 and by August, Dempsey was suing Avenatti for not funding the deal according to their agreement.

Dempsey's lawsuit alleged that an internet search revealed that Avenatti had borrowed $2 million at the insanely high interest rate of 15% to fund the deal. He did not actually have the money to finance the whole thing, leading Dempsey to pull out of the partnership.

Global Baristas owes $4,998,198 in federal taxes according to an IRS lien. The company also owes thousands of dollars in state taxes and has more than 20 state liens filed against them in Washington and California. In early April, Washington state issued a warrant over more than $721,000 in unpaid state taxes.

Since 2013, 46 lawsuits have been filed against Global Baristas. The company has been sued by a number of landlords for tens of thousands in unpaid rent. Global Baristas has been named in 13 unlawful detainer cases in the past year

Avenatti claims to no longer be involved with Global Baristas. In fact, he insists he is only outside counsel for the company, However, he is still listed as the sole governing person for Global Baristas in Washington business filings. Avenatti claims he sold his part of the company at a profit sometime in the past. However, in 2017, Avenatti told the Federal Bankruptcy Court that he was the owner.

Seems like he is trying to do the same thing with Eagan Avenatti and Avenatti and Associates.

Read more: Michael Avenatti Ordered To Pay More Than $4 Million In Back Salary, Owes Millions In Taxes And Back Rent

"The Beverly Hillbillies" Mansion Slashes Its Price From $350 Million To $245 Million

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A little over a year ago, a mansion in Bel-Air was listed for sale. Big whoop, right? That probably happens every day. Well, yes, it's true that a mansion in Bel-Air probably hits the market every day. However, it's not very often that a mansion anywhere on the planet hits the market for $350 MILLION. And to be honest, this isn't even a mansion. It's an iconic estate called "Chartwell". You probably know it as the mansion from the first episode of "The Beverly Hillbillies".

And we have some good news if you're in the real estate market. Chartwell's price was just reduced in a major way. By $105 million, to be precise. So Chartwell can be yours for the low-low price of $245 million 🙂

Chartwell is a 25,000-square-foot mansion sitting on 10.3 acres of land in the heart of Bel-Air. The estate is built in the French Neoclassical design. The mansion comes with a ballroom, a formal salon, and an enormous temperature controlled wine cellar. The property features manicured gardens, a 75-foot swimming pool, a tennis court, and covered parking for 40 cars. The estate has sweeping panoramic views from the Pacific Ocean to downtown Los Angeles.

Check it out from this fantastic drone video:

Chartwell was built in 1933 – originally for a property developer and his wife. Unfortunately, his wife HATED the final product. She thought it was way too opulent, especially at a time when most Americans were struggling through the Great Depression. Amazingly, the house sat empty until the 1940s when it was bought by a hotel tycoon named Arnold Kirkeby. The property was used as in the opening credits of the TV show "The Beverly Hillbillies" which ran from 1962 to 1971.

The Kirkeby family occupied Chartwell until 1986 when it was bought by TV producer turned billionaire Univision founder, Jerry Perenchio.

Technically, Chartwell consists of 5 properties which have been combined over the years to make one massive estate. For example, after Nancy Reagan died in 2016, Jerry acquired her mansion for $15 million and incorporated it into Chartwell.

Perenchio's estate listed the property not long after the mogul died in 2017. At the time of his death, he was worth $2.7 billion.

Just a quick warning for anyone seriously looking to buy this mansion – Even if you pay all cash, your property taxes will still be around $2.5 million per year. That means you'll need to earn $5 million a year just to pay your property taxes. And we haven't even talked about annual upkeep costs. What do you think the annual gardening bill is for a house like this? How about the water bill or the electricity bill?

If you do buy it, please invite me to a party.

And one final note – In order to break the record for the most expensive home ever sold in the United States, Chartwell will need to fetch $148 million or more.

Read more: "The Beverly Hillbillies" Mansion Slashes Its Price From $350 Million To $245 Million

Sports Exec Casey Wasserman Lists Stunning Beverly Hills Home For $125 Million

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If you're in the market for a Beverly Hills mansion and also in the mood to break a local real estate record, the Wall Street Journal reports that a recent listing might be of interest to you. It's the home of sports and entertainment executive Casey Wasserman, who is listing the recently completed house for $125 million — at that price, its sale would make it the most expensive private property ever purchased in Los Angeles.

Wasserman is the grandson of famous "Hollywood mega-agent" Lew Wasserman, and the property he's selling once belonged to Lew and wife Edie Wasserman, philanthropist and Casey's grandmother. But interestingly, those two are far from the biggest Hollywood names to have once owned part of the more than three acres of land that make up the property: That would be Frank Sinatra, who owned the house next door. Franks estate sold his house to the Wasserman family in 2004 for $6.5 million. After his grandmother passed away in 2011, Wasserman demolished their old home and used both parcels to build a "megamansion" that came to be known as the Foothill Estate after it was completed in 2016.

It's this megamansion that's listed for $125 million, and across its 18,548 square feet and two levels it boasts a 1,148-square-foot gym, a private home theater, and an art studio, as well as residential "staff quarters," a four car garage, and a total of five bedrooms.

Then there's the entertainment deck, with an 85-foot infinity swimming pool, pool house, and outside dining area. The entire Foothill Estate is engineered with various environmentally friendly elements, most notably a geothermal heating system. But why read when you can see the property for yourself in the real estate video below:

Should the property sell for any more than $110 million, that will be enough to exceed the price paid for Hard Rock Cafe founder Peter Morton's mansion in Malibu earlier this year, currently the holder of the record for most expensive LA area property.

Read more: Sports Exec Casey Wasserman Lists Stunning Beverly Hills Home For $125 Million

Jeff Bezos Just Set An Insane New Wealth Record… For LOSING Money

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Usually when you see that Jeff Bezos has broken a new record for wealth, it's for gaining some unprecedented amount of money, either for making a ton of money in a short stretch or in recognition of his overall fortune. But two days in the last week will go down as an infamously rough time for Bezos' massive online retailer Amazon. Over a 48 hour period in the last week, Amazon's share price dropped so much that Jeff set a new wealth record for LOSING money. When the dust cleared, over two days he lost $19.2 billion.

That's an all-time wealth loss for a 48 hour period. The previous holder of the two day loss record was Facebook's Mark Zuckerberg, who saw $16.5 billion fall off of his total net worth following some bad news for the social media giant in July of this year.

Jeff Bezos may be king of the two-day wealth loss, but he has a long way to go to break the record for most money lost by one human in history, without any time constraints. That record belongs to Japanese billionaire Masayoshi Son.

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Masayohsi Son is the founder of SoftBank, a Japanese telecommunications conglomerate that saw huge growth during the late 90s and early 2000s, the era we now refer to as the "dotcom bubble."

At the height of that bubble's precarious growth, Son was worth $76 billion in early 2000 thanks to his savvy investments in new, massively successful internet companies like E*Trade, Alibaba, and Japan's Nippon Credit Bank. That's when things started to go wrong for him, as well as anyone else whose fortunes were tied to these young internet companies.

As the owner of 42% of SoftBank's stock, Son was doing mighty well for himself when the company's market cap hit $180 billion. That was in early 2000.

On March 10 2000, the NASDAQ Composite (the stock exchange where virtually all new dotcom companies were traded) hit a peak of 5,000.

Two months later, in May 2000, the NASDAQ composite had dropped to 3,300. On September 28, 2001 (as the nation reeled from 9/11), the NASDAQ dropped to 1,500. Another year later the market bottomed at 1,200. That's a 76% drop over two very painful years.

A company like SoftBank, with so much exposure to the internet sector, did not fare well in these difficult times. Every single investment Masayoshi Son had championed over the previous five years was decimated. As just one example, Softbank's $400 million investment in E*Trade was reduced to just $22 million. Softbank's market cap dropped a mind-numbing 98% from $180 billion to $2.5 billion. And with that drop, Masayoshi Son's net worth plummeted from an all time high of $76 billion to an all time low of $1.1 billion. A personal loss of $74.9 billion. Ouch.

That is officially the most money lost by an individual in human history.

Of course, Son ended up just fine. He was a billionaire the whole time, first of all, and second he eventually recovered a chunk of his former wealth. Today his net worth is $22 billion and he is back to being the richest person in Japan.

Much like fellow loss champion Jeff Bezos, he learned that being a mega-billionaire means being able to sustain incredible, unprecedented losses and still coming out rich.

Read more: Jeff Bezos Just Set An Insane New Wealth Record… For LOSING Money

What Was Freddie Mercury's Net Worth At The Time Of His Death?

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Freddie Mercury and Queen are about to be introduced to a whole new audience when the Queen biopic Bohemian Rhapsody hits theatres on October 24th. The movie stars Rami Malek as Freddie Mercury and if the trailers are any indication, he nails the role. All of this got us thinking, what was Freddie Mercury worth when he died in 1991?

Freddie Mercury was born Farrokh Bulsara in Zanzibar (now Tanzania) on September 5, 1946. His parents were from the Bombay Province in British India and he spent most of his childhood in India. He started taking piano lessons at age seven. When he was 8 years old, he was sent to study at a British style boarding school for boys called St. Peter's school. He formed a school band, The Hectics, at the age of 12. The band covered rock and roll songs. Mercury was a big fan of Western pop music as a kid. It was while he was at St. Peter's that he started calling himself Freddie. In 1963, he moved back to Zanzibar and into his parents' apartment. A year later, Freddie and his family fled Zanzibar during the Zanzibar Revolution, during which thousands of Arabs and Indians were killed. They ended up settling into a small house in Middlesex, England. Mercury began studying art at Isleworth Polytechnic in West London. He earned a diploma in Art and Graphic design at Ealing Art College.

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After graduation, Mercury joined a number of bands. To make money, he sold second hand clothes at London's Kensington Market and worked as a baggage handler at Heathrow Airport. In 1969 he joined Ibex, a Liverpool based band. The band didn't take off and he ended up joining a band called Sour Milk Tea, which also disbanded by early 1970. In April 1970, he joined Brian May and Roger Taylor to form a new band. In 1971 John Deacon joined the band and Mercury named the band Queen. He also changed his last name to Mercury at this time.

In 1973, Queen released their first self-titled album. It took two more albums for the band to gain traction with fans. Their third record, Sheer Heart Attack, was released in 1974 and featured the band's first hit "Killer Queen." The single hit number two on the U.K. charts and number 12 on the U.S. charts.

In the early 1970s Mercury purchased a 28-room Georgian mansion in London called Garden Lodge for $500,000 pounds. That's about $7 million in today's dollars. The house is worth at least $20 million today. He left the house to his ex-girlfriend Mary Austin when he died. Austin and Mercury had a long term relationship and lived together for several years. In the mid-70s, Mercury began an affair with a male record executive. He told Austin about his sexuality in December 1976 and their romantic relationship ended but their friendship endured. In fact, Mercury was the godfather to Austin's son Richard. In a 1985 interview, Mercury commented on his relationship with Austin saying:

"All my lovers asked me why they couldn't replace Mary, but it's simply impossible. The only friend I've got is Mary, and I don't want anybody else. To me, she was my common-law wife. To me, it was a marriage. We believe in each other, that's enough for me."

When he died and left the mansion to Austin, it was a bit controversial as he'd been in a long term relationship with Jim Hutton. In his will, he said to Austin:

"You would have been my wife, and it would have been yours anyway."

Mary Austin lives in the mansion to this day.

Mercury had a long career with Queen and a number of hits in the late 1970's and early 1980s. "We Are the Champions," off 1978's News of the World was a top 10 hit in the U.S. and U.K. "We Will Rock You," "Another One Bites the Dust," and "Under Pressure" became major hits for Queen as well. Mercury also released a number of solo albums.

A flamboyant performer, Mercury was shy and reserved off stage. He was open about the fact that he was bisexual and kept his relationships private. Mercury was diagnosed with AIDS in 1987 and by 1989 he had retreated from public life. He didn't promote or tour for Queen's 1991 album Innuendo. On November 23, 1991, Freddie Mercury released the following statement:

"I wish to confirm that I have been tested HIV-positive and have AIDS. I felt it correct to keep this information private to date to protect the privacy of those around me. However, the time has come now for my friends and fans around the world to know the truth and I hope that everyone will join with my doctors and all those worldwide in the fight against this terrible disease."

He died the next day of AIDS related bronchial pneumonia in London. He was 45 years old.

Mercury left the vast majority of his wealth, including the Georgian mansion in London and all recording royalties to Mary Austin. He left £500,000 to his chef, Joe Fanelli; £500,000 to his personal assistant, Peter Freestone; £100,000 to his driver, Terry Giddings; and £500,000 to his longtime boyfriend Jim Hutton. He left the remainder of his wealth to his parents and sister.

At the time of his death in 1991, Mercury owned real estate with an inflation adjusted worth of $40 million and had another $13 million in liquid assets. In 1991, his net worth was about $30 million – this includes the value of all real estate, royalties, catalog rights, cash, art, and other liquid assets. When adjusted for inflation, Freddie Mercury's net worth was in the $50-60 million range.

Read more: What Was Freddie Mercury's Net Worth At The Time Of His Death?

Mariah Carey's Billionaire Ex Paid Her $50 Million To Go Away

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Oh man. It's one thing to have a high profile relationship break up. But then for it to hit the press that you were paid to go away? That's exactly what is happening to Mariah Carey as her ex-fiance James Packer details their called-off engagement and how he had to pay her to go away. Packer and Carey dated for 18 months before calling off their engagement in 2016. The 51-year-old Australian said he became toxic during their breakup. He paid Mariah a $50 million "inconvenience fee" after the breakup according to the new book The Price of Fortune: The Untold Story Of Being James Packer.

Packer has characterized the early days of his relationship with Mariah as fun, but also noted that he was in a dark place mentally. He proposed to Carey, who he has said is "insanely bright," in January 2016 with a $10 million, 35-carat diamond ring. In February, just a month later, Packer was struggling. At that time, he was "in a bad, bad way." Eventually his battle with his depression and mental health became too much and took a huge toll on his relationship. Packer and Carey abruptly ended their relationship in October 2016.

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News of the settlement comes after Packer broke his silence about the end of their relationship. People largely thought that Mariah was to blame; after all, Mimi has a reputation for being high maintenance. Reports of her high spending irritating Packer and leading to the end of their engagement have turned out to be false. When it came down to it, the relationship was a mistake for Packer and a mistake for Mariah.

After the breakup, Carey reportedly sold the engagement ring for a fraction of the price. One of her business managers quietly sold the ring to a jeweler in Los Angeles for $2.1 million.

This isn't the first time Mariah was paid to go away. Back in 2001, Virgin Records signed Mariah Carey to one of the biggest contracts in the history of the record industry – a five album deal that guaranteed her $100 million. At the time, Mariah was one of the biggest names in the music industry. Only The Beatles had more Billboard Hot 100 singles than Mariah. It was a contract for a diva. She was paid $21 million up front with no strings attached – she didn't even have to put out a record for that money. The first and only album Mariah released with Virgin Records was Glitter. It sold just three million copies worldwide. The film of the same name had been delayed after Carey had a well publicized nervous breakdown. The film opened on September 11, 2001, a day when the world's attention was focused on the World Trade Center Towers, the Pentagon, and a field in Pennsylvania. Virgin wanted to cut its losses on the investment in Carey. They didn't want to wait. They paid Mariah $28 million to go away. In the end, Mariah Carey made $49 million for one flop of an album.

Following their breakup, Mariah started dating her much younger back up dancer, 35-year-old Bryan Tanaka. Packer resigned from his various companies and checked into a rehab facility to receive treatment for his mental health issues.

Something tells me that Mariah is as insanely bright as Packer said she is and that she is laughing all the way to the bank.

Read more: Mariah Carey's Billionaire Ex Paid Her $50 Million To Go Away

Kylie Jenner And Travis Scott Just Bought This Incredible $13.45 Million Beverly Hills Mansion

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Good news for anyone invested in the personal lives of the Kardashian family and its off-shoots: Kylie Jenner and Travis Scott are purchasing their first home together. They dropped a princely $13.45 million on the Beverly Hills mansion, and the story speculates that since they're listed as co-owners they split the cost 50/50.

As for the mansion itself, it's as you might expect of premium luxury and has plenty of room, reportedly 2,300 square feet for the master bedroom alone. Then there are the amenities that one familiar with the Kardashian standard of living would expect, like a massage room, gym, three-car garage, and more. Realtor Ernie Carswell describes it like this:

"Architectural compound in coveted lower BHPO [the Beverly Hills Post Office neighborhood] pristinely set behind private gated driveway, offering sparkling city & ocean views. Minimalist lines intersect w/organic textures inspired by lush canyon surroundings, cultivating an immense sense of tranquility. Voluminous double-story foyer opens to meticulously sculpted, grand-scale Living & Dining spaces framed by walls of glass that effortlessly slide away to pool/spa, lounge & BBQ area for open indoor-outdoor living & entertaining."

While the home is the first shared by Jenner and Scott, it's not the former's first, and is in fact her fifth property following the purchase of her own $12 million home in Hidden Hills about two years ago. If that's not enough information on the Kylie Jenner real estate beat, she's also selling a property, having listed an empty lot also in Hidden Hills back in August of this year, only some ten months after she purchased it for $5 million (she's looking to turn a $500,000 profit by her asking price).

If you want a closer look at the pair's new Beverly Hills Post Office home, just take check out the real estate listing video below:

Read more: Kylie Jenner And Travis Scott Just Bought This Incredible $13.45 Million Beverly Hills Mansion


Grant Hill Just Signed A Lifetime Deal With Fila

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When Grant Hill entered the NBA in 1994, he was rocking Fila sneakers. Now, nearly a quarter-century later, the two are paired together once more. The Hall-of-Famer signed a lifetime deal with Fila to help revive the company's sneaker brand.

The deal will put Hill's retro 90s sneakers back on the market. Fila will also release new editions of some of Hill's earlier shoe models.

Hill was just the fourth rookie ever with his own signature shoe. He signed with the Italy-based Fila after leaving Duke. His debut GH1 sneaker sold 1.5 million pairs. After Hill won co-Rookie of the Year honors, his Grant Hill 2 model sold even more.

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The Grant Hill 2 shoes brought in $135 million, and Fila's market share doubled. At the time, the company leapfrogged Adidas and Reebok and trailed only Nike in overall shoe sales. The Grant Hill 2 shoes made up 10 percent of Fila's shoe sales and have since been re-released several times.

After his early career success, Hill signed a seven-year, $80 million extension to stay with Fila. It was the biggest shoe deal ever up to that point. But then injuries took their toll, and Fila parted ways with Hill in 2004 after the contract ended.

While Hill wore Fila on the court, these sneakers will be geared towards retro and lifestyle fans. Don't expect to see these kicks on an NBA court anytime soon.

Still, Fila believes Hill is a big draw. The brand continued releasing his GH2 shoe as "Fila 96" for several years. Now that they're back together, Fila and Hill hope to reignite some of that mid-90s magic.

Read more: Grant Hill Just Signed A Lifetime Deal With Fila

Beto O'Rourke Net Worth

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Beto O'Rourke net worth: Beto O'Rourke is an American politician and businessman who has a net worth of $9 million according to his most recent Congressional wealth disclosure. He owns at least $3 million worth of real estate and at least $6 million worth of other investments. Beto O'Rourke was born in El Paso, Texas in September 1972. He is a Democrat who earned his BA from Columbia University. Beto O'Rourke served as a member of the El Paso city council from the 8th district from 2005 to 2011. He became a member of the U.S. House of Representatives from Texas's 16th district in 2013. O'Rourke was the Democratic Party nominee for the 2018 Texas U.S. Senate race against Republican incumbent Ted Cruz. He is a musician who was a member of the band Foss. He co-founded the internet services and software company Stanton Street Technology. O'Rourke has served on the Committee of Armed Services and the Committee on Veterans' Affairs. He has been supported by celebrities including LeBron James and Willie Nelson. He is a member of the new Democrat Coalition which is centrist or moderate.

Read more: Beto O'Rourke Net Worth

Kurt Fuller Net Worth

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Kurt Fuller net worth: Kurt Fuller is an American actor who has a net worth of $3 million. Kurt Fuller was born in San Francisco, California in September 1953. He has acted on stage in addition to on television and in films. Fuller has nearly 200 acting credits to his name dating back to 1984. In 1990 he starred as Miles Plato on the television series Capital News. In 1992 he starred as Dr. Spencer Kramer on the TV series Laurie Hill. Fuller starred as Joel Putney on the series Better with You from 2010 to 2011. From 2009 to 2014 he starred as Coroner Woody Strode on the television series Psych. Kurt Fuller has also had recurring roles in several TV series including Wildside, Timecop, That's My Bush!, Alias, Desperate Housewives, Big Day, Supernatural, Scandal, Parenthood, Manhattan Love Story, Us & Them, Kings of Con, Heathers, and more. He has also starred in several films including The Running Man, Miracle Mile, Elvira, Mistress of the Dark, No Holds Barred, Ghostbusters II, Wayne's World, Stuart Saves His Family, The Fan, Pushing Tin, Scary Movie, Anger Management, Ray, The Pursuit of Happyness, Mr. Woodcock, Midnight in Paris, and more.

Read more: Kurt Fuller Net Worth

Cynthia Scurtis Net Worth

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Cynthia Scurtis net worth: Cynthia Scurtis is an American teacher who has a net worth of $10 million. Cynthia Scurtis was born in Coconut Grove, Miami, Florida in December 1972. She is best known for being married to professional baseball player Alex Rodriguez from 2002 to 2008. She has two children: Ella Alexander and Natasha Alexander. She earned her master's degree in psychology from Nova Southeastern University and taught high school. Her divorce settlement was said to include the couple's $12 million mansion. In October 2018, Alex petitioned a judge to reduce the monthly alimony support payments he makes to Cynthia. In his filing, Alex claims his annual income has dropped 90%, from $30 million to $3 million, since retiring. He further asserted that Cynthia is very wealthy now thanks to his previous payments and settlements and therefore should be able to take care of herself at this point.

Read more: Cynthia Scurtis Net Worth

Adam Thielen Net Worth

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Adam Thielen net worth and salary: Adam Thielen is an American professional football player who has a net worth of $5 million. Adam Thielen was born in Detroit Lakes, Minnesota in August 1990. He is a wide receiver who played at Detroit Lakes High School and also helped the golf team win the state championship. Thielen played his college football at Minnesota State University where he was named the team's Offensive Player of the Year. He went undrafted but signed with the NFL's Minnesota Vikings in 2013 and has played his entire career with the Vikings through the 2018 season. Adam Thielen was selected to the Pro Bowl and was a second-team All-Pro selection in 2017. In 2018 he set a record with five straight t100-yard receiving games at the beginning of a season. He also tied a record for most consecutive 100 yard games in a year at eight which is tied with Calvin Johnson. Between 2014 and 2016, Adam earned a total of $1.5 million in the NFL. After breaking out in the 2016 season, in 2018 he was offered a three-year extension that came with $10 million guaranteed.

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Gayle Benson Net Worth

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Gayle Benson net worth: Gayle Benson is an American businesswoman and sports franchise owner who has a net worth of $2.8 billion. Gayle Benson was born in New Orleans, Louisiana in January 1947. She is the widow of Tom Benson who was the owner of the NFL's New Orleans Saints and the NBA's New Orleans Pelicans. Gayle inherited both teams when he passed away in March 2018. Benson became the first woman to be a majority shareholder of the voting stock in an NBA and an NFL franchise. Tom was her third marriage and she has three children with two being deceased. She met Tom Benson to collect a donation for a church and they hit it off. She ran an interior decorating business called Gayle Bird Interiors Ltd. Gayle and Tom Benson bought a majority share of the Dixie Brewing Co. in 2017. The two donated millions of dollars to charities.

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John Legere Net Worth

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John Legere net worth and salary: John Legere is an American businessman who has a net worth of $60 million. John Legere was born in Massachusetts in June 1958. He is the chief executive officer of T-Mobile US. Legere has previously worked for companies including AT&T, Global Crossing, and Dell. He is also on the board of directors for CTIA. John Legere earned his B.B.A. from the University of Massachusetts, Amherst. He also earned his M.S. from the MIT Sloan School of Management and his M.B.A. from Fairleigh Dickinson University. He became the CEO of T-Mobile in 2012 and has been responsible for the brand's "un-carrier" approach which does not use contracts for wireless networks. Legere worked for AT&T for nearly 20 years. He was the senior vice president of Dell and has held many other positions. In college he was a nationally competitive runner and he completed the Boston marathon in 2004.

John Legere's salary: In a typical year, John's base salary is $1.5 million. He earns much more than that thanks to bonuses and stock awards. For example in 2017 his total compensation topped $23 million.

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The New McLaren Speedtail Costs $2.3 Million

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McLaren has unveiled the latest "hyper-GT" in the company's Ultimate Series, the absolute top of the McLaren line. Naturally, the top of that line doesn't come cheap, so it shouldn't be too much of a surprise that the McLaren Speedtail will come with a reported price tag of $2.3 million, as per a recent Bloomberg feature on the car.

McLaren is hoping for the Speedtail to be their answer to the likes of Lamborghini and Ferrari hypercars, and its design serves as the company's homage to its own McLaren F1, which between 1998 and 2004 was the fastest production car in the world. Like the F1, McLaren says it's making just 106 Speedtails, and a company spokesman says that all 106 McLaren Speedtails are already sold out – so, unless you're one of those lucky buyers, that $2.3 million expenditure will remain hypothetical for now. Here's a look:

McLaren

But what would you have gotten for that $2.3 million? For one, its top speed of 250 miles per hour and its ability to go from 0 to 186 miles per hour in 12.8 seconds makes it faster and more powerful than its F1 inspiration. And there's a chance that it might be able to go even faster, inviting speculation that the current production land speed record of 277.87 miles per hour might be at risk of being broken by the Speedtail. In a company statement, however, the point of view of McLaren chief Mike Flewitt that the company isn't prioritizing getting into any land speed skirmishes with rivals was reaffirmed with regards to the Speedtail: "These days, we prefer to let our customers set the records."

Of course, land speed records are one thing, but the Speedtail seeks to be a luxuriously comfortable experience for its drivers and two passengers (the car, unusually, features a three seat layout) as well. Bloomberg calls it "the most luxury-oriented model McLaren has made," with electrochromic glass in the windshield that can provide enhanced shielding from the sun on command, and badging in inlays in optional 18k gold or platinum. You can take a look at the three seat layout, another homage to the car's Formula 1 heritage, in the photo below:

McLaren

The $2.3 million McLaren Speedtail is slated to go into production at the end of next year.

Read more: The New McLaren Speedtail Costs $2.3 Million

Michael Jordan Is Part Of A $26 Million Investment In Esports Team Liquid Blue

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Michael Jordan has accomplished nearly everything imaginable in the basketball world. Multiple titles, MVP Awards, a statue outside the United Center, owning an NBA franchise… the list goes on. And now, Jordan is taking his game online, after becoming the latest investor in esports.

aXiomatic, the parent company of esports squad Team Liquid, just closed a $26 million Series C funding round. Jordan and his family office Jump DC were among the investors in aXiomatic. Other notable investors over time include Hornets vice chairman Curtis Pol, Washington Wizards owner Ted Leonsis, Golden State Warriors co-owners Peter Guber and Bruce Karsh, and Tampa Bay Lightning owner Jeff Vinik.

Leonsis and Guber co-founded aXiomatic in the summer of 2016. The company acquired a majority of Team Liquid just a few months later in September. Leonsis was one of the major factors for Jordan's investment.

Like Jordan during his playing career, Team Liquid is no stranger to success. The team holds multiple esports titles in games like League of Legends, Dota 2, and Counter-Strike: Global Offensive.

Jayne Kamin-Oncea/Getty Imagesn,

It's a shift in mindset for Jordan, who wouldn't let video games use his likeness or image while playing. But now, Jordan sees the potential growth and value in esports – and he's hardly alone.

Fifteen NBA teams have mutual ownership or partnerships with esports squads. The NBA 2K League features 21 affiliates as a result of those partnerships.

We may soon see every NBA team getting involved. The Warriors and Brooklyn Nets have already hosted esports tournaments in their home arenas. With those proving successful, arenas and teams across the country could benefit.

One of the initial investors in aXiomatic back in 2016? Magic Johnson. Now, with Magic and MJ once again on the same side, this could be the Dream Team all over again.

Read more: Michael Jordan Is Part Of A $26 Million Investment In Esports Team Liquid Blue

Tito's Vodka Founder Bert Beveridge Is Now Officially Worth $4 BILLION

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Can you imagine coming up with an idea for a new product – say a vodka – knowing you'll be facing stiff competition from big brands like Grey Goose, Absolut, Smirnoff, Stoli, and Skyy? Those brands are owned by huge conglomerations with unlimited checkbooks. These big names will stop at nothing to squash an upstart business that threatens to cut into profits. Despite these grave odds, this is exactly what Bert "Tito" Beveridge did when he began distilling his own brand of vodka in his Austin, Texas home. Within a few years, Beveridge and his Tito's Handmade Vodka took on the "big boys" in a competition with big name brands like Ketel One, Belvedere, and Chopin. Guess which vodka the judges unanimously picked as the hands down best? Thanks to early successes like this, Bert Beveridge and Tito's Handmade Vodka have suddenly found themselves on top of the vodka world. But how exactly does someone launch a vodka business from scratch in your kitchen that competes with some of the biggest brands in the world???

Bert Butler Beveridge II, also known as Tito, was born in San Antonio, Texas in 1961. Growing up, his dream was to someday become a doctor. Tito was a whiz in all things science related and enrolled in college as a pre-med major. Like many people, Tito's focus changed during college and he ended up with a degree from the University of Texas, where he majored in geology, geophysics and rowdiness. While in college, Beveridge was a good time guy – racking up arrests for a DUI, assault, and exposure by the time he graduated in 1984. All charges against him were dismissed as college folly gone wrong (aided by alcohol, no doubt).

Rachel Murray/Getty Images

After graduation he moved to Houston to go to work for a major oil company as a seismic data processor. It was the mid-1980s and the Texas oil industry was experiencing an unprecedented period of growth. Texas-based oil companies were expanding all over the world and Tito jumped on that bandwagon, heading to Venezuela and Columbia to apply his geophysicist skills. While he was in South America, Beveridge found himself with a lot of time on his hands, so he picked wild fruits, fermented them, and concocted something that resembled wine.

After a few years in South America, Tito returned to Texas and settled in a town near Houston called Alvin, Texas. He became a wildcatter—an independent oilman—and started his own drilling company. He was making a good living, but didn't love what he was doing anymore, so he packed it all up and moved to Austin, where he worked for a time as an environmental engineer on projects related to the oil business. Eventually, Bert realized he had had enough of the oil business for good and became a mortgage broker. Well, you can imagine that after years spent as a geophysicist essentially blowing up mountains, moving around paperwork as a mortgage broker would soon become boring.

It was the early 1990s and Tito was at a crossroads. He was wondering what made him happy and what he was going to do with the rest of his life. As a hobby, he'd been making small batches of habanero flavored vodka for his friends by infusing store bought vodka with the spicy pepper. Everyone loved it and encouraged him to make it commercially. Tito bounced that idea around in his head for a few days. He did love vodka and very much enjoyed the process of infusing special batches for his friends. Then, late one night on TV he saw an infomercial featuring a motivational speaker who said something that changed Bert's life forever:

"If you want to find your dream job, find your passion. Then sit down with a pen and paper, draw a line down the middle of the page, and on the left make a list everything you love to do, then on the right, write down what you are good at doing. Once you've done that, find what you're best suited for, and make it happen."

Tito sat down with a pen and paper in the middle of the night after he'd just gotten home from a keg party and did the exercise. When he finished, Tito realized three things:

  1. He enjoyed meeting new people.
  2. He was good at sales.
  3. He loved making spirits.

Tito's Handmade Vodka was born in the middle of the night in a moment of drunken inspiration encouraged by an infomercial.

Tito took a trip to his local liquor store to discuss the viability of starting his own vodka distillery. The owner thought that it could be done even though it hadn't been done before. He offered Beveridge one bit of very important advice: If he could make a really smooth vodka that women would drink straight, he might be successful. Beveridge went immediately out to figure out how to get into the spirits business, specifically the vodka business. Why vodka? Besides the advice of the liquor store owner, it was Tito's drink of choice, and, he also figured it was a pretty great way to meet girls and write off his bar tab. Smart man.

It was 1993 and there was not a single distillery in the state of Texas at the time. When Beveridge went to the Texas Alcoholic Beverage Commission (TABC) to apply for a license, he was turned away. He was told the laws of Texas strictly forbade distilleries. That didn't stop Tito. He was used to reading and interpreting state codes from his geologist days, so he went digging, and found out there wasn't any specific law in Texas forbidding a distillery. When he went back to the TABC, they told him if he could manage to obtain a federal license, they'd grant him a state license.

Starting a vodka business was a huge risk. The liquor industry is lined with thousands of formerly upstart vodka brands that have gone out of business. Vodka is the most competitive part of the liquor market, accounting for nearly a third of the United States' distilled spirits consumption.

It took Beveridge two years to get a federal license but when he did, the TABC was duly impressed and issued him the very first license to distill in the state of Texas. Now all Tito had to do was figure out how to actually make the vodka and finance all the equipment he'd need.

Rachel Murray/Getty Images

First he spent time visiting bourbon distilleries and watching their process. A guy from Jim Beam gave Tito a lot of tips on "micro" distilling. Beveridge went home, built a pot still from scratch and began honing the recipe for Tito's Handmade Vodka. He experimented with different grains until he chose corn for his vodka. He was now ready to mount a larger operation but would need the equipment for it.

Beveridge began taking his business plan to banks. He was turned down again and again. So he turned to private funding and again had no luck. Instead of giving up, this made him more determined than ever. If you remember the mid-1990s, you may remember how easy it was to get a credit card. The same banks that turned Tito down for a business loan were more than happy to issue him a credit card. Tito Beveridge signed up for 19 different credit cards to finance his business, at one point running up $90,000 in charges. Faced with the huge debt, the mounting pressure that he'd default on the debt and be ruined for life, and the fact that his girlfriend was pregnant… drove Tito to ensure his burgeoning business was a success.

He sold his first case of vodka in 1997. Tito was a one-man operation, making the vodka, bottling it, and loading it by hand onto a truck. His credit cards were maxed out and he was in the game of transferring the balance from one card to the next to free up some of his credit limit. He didn't make a single penny in profit for eight years.

Tito's Handmade Vodka got some positive reviews in those early days from critics. The head of the cocktail program at The Bellagio Hotel in Las Vegas caught wind of those reviews in 1998. He tried it, liked it, and invited Beveridge to come to Vegas and do a tasting presentation for his staff. The Bellagio became one of Tito Beveridge's first and most important accounts. Since then he's expanded and is now sold in all 50 states. That competition we mentioned in the opening paragraph was the 2001 San Francisco World Sprits Competition. Bert and Tito's walked away with the competition's coveted top prize, the Double Gold Medal.Tito believes this was his vodka's tipping point—the market opened exponentially after that win.

Tito's Vodka is no longer made in the shack behind his house with that original still he built, nor is it the one-man operation is was in the early days. Nowadays the "micro" distillery is a bit larger. Tito's moved into an actual distillery with a custom-made 12,000 gallon still in the Austin area. Tito's Handmade Vodka has built a brand over the past 19-years without the benefit of a large advertising push. Tito's has succeeded in equal parts because of its taste and the renegade story of Tito Beveridge himself.

Tito still works the distillery every day, testing batches of vodka and managing the business. In retrospect, it's lucky that Tito never found an investor in those early days. All these years later, Bert still retains 100% ownership of Tito's Handmade Vodka, which sold more than 45 million bottles of vodka in 2016. It is estimated that 63 million bottles sold in 2017. Based on the company's current valuation, Bert Beveridge's net worth is $4 billion.

All this from a former oil rig roughneck who started off infusing store bought vodkas with flavors for his friends.

Read more: Tito's Vodka Founder Bert Beveridge Is Now Officially Worth $4 BILLION

How The Kwok Family Became One Of The Wealthiest Families On The Planet With A Combined Net Worth of $34 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 Kwok family is the 13thwealthiest family in the world with a combined $34 billion net worth.

The Kwok family's wealth is derived from Sun Hung Kai Properties, the second-largest real estate company in the world, behind the Simon Property Group which owns the majority of America's malls. When you combine the Kwok family's wealth together, they are easily one of the wealthiest families in the world. But how they made their wealth (real estate during the decades of boom time in Hong Kong) isn't nearly as interesting as the family drama.

Hong Kong's Kwok family controls Sun Hung Kai Properties, one of the city's biggest landlords and real estate developers. Walter Kwok recently made the news when he passed away at the age of 68. This family has all the juicy ingredients for a soap opera – a dynasty of billionaires, a kidnapping, feuding siblings, a mistress, charges of mental illness, a boardroom coup, dramatic arrests, allegations of corruption reaching the highest levels of government, and a family torn apart.

MIKE CLARKE/AFP/Getty Images

Sun Hung Kai Properties was founded in 1963 by family patriarch Kwok Tak-seng. The father of Walter, Thomas, and Raymond made his fortune by breaking into every single sector of the property business from residential to hotels to industrial development. He was born in Zhongshan in the Guangdong province of China and moved to Hong Kong after World War II. He benefitted from the three decade long surge in the price of homes in Hong Kong. Sun Hung Kai Properties was in the right place at the right time – during the biggest housing demand boom in the history of Hong Kong. The company is known for its high end apartments.

Kwok Tak-seng died of a heart attack at the age of 79 on October 30, 1990. He left behind his wife and three sons. The reins of the Kwok empire passed to his oldest son Walter, who was made chairman and CEO of Sun Hung Kai Properties.

On September 30, 1997, Walter was kidnapped by Cheung Tze-keung. Cheung was nicknamed "Big Spender" and was a prominent gangster in the Hong Kong underworld. He reportedly beat Walter, stripped him down to his underwear, and kept blindfolded and imprisoned inside a wooden container. "Big Spender" demanded that the Kwok family pay him a ransom of HK$600 million ($110 million US). It is believed that Walter's mother Kwong Siu-hing held a secret meeting with Big Spender.  The ransom was paid and delivered in 20 large carrier bags filled with 1,000 dollar notes. The money was transported via two Mercedes saloon cars, and the trade-off was made on a quiet side street seven days after Kwok's abduction. The kidnapper was later captured on mainland China and was executed in by firing squad 1998. The kidnapping took a major emotional and mental toll on Kwok and he was never the same again.

The family blamed Walter's mental state (he officially received a diagnosis of bipolar disorder), a long standing rumor is that the family was furious because Walter, who was married, had been conducting a long term affair and has tried to appoint his mistress to the board of Sun Hung Kai Properties. That woman was Ida Tong Kam-hing, an attorney in Hong Kong who was five years older than Walter. He had reportedly known her for more than 35 years, since before he married his wife Wendy. The comparisons to Prince Charles and Camilla Parker-Bowles were made and the Hong Kong press started calling Ida "HK's Camilla." Reportedly, Walter broke off his relationship with Ida as a young man because his father disapproved of her. He took up his affair with her after his kidnapping ordeal.

During the nasty, public, family battle and boardroom coup, Walter filed a defamation suit against his brothers on the basis of allegations he said they made against him in a series of letters sent to their mother and the directors of Sun Hung Kai Properties. According to the documents in the lawsuit, the letters talked about Walter's bipolar disorder and called him a liar unfit for the position of chairman and CEO.

After a three month battle, Walter was forced out of the family trust and given a non-executive director post. His mother took over the chairmanship for a time and eventually Thomas and Raymond became joint chairmen.

Then, in March 2012, Thomas and Raymond Kwok were arrested by the Independent Commission Against Corruption on bribery charges. The Kwok brothers were arrested as part of an extensive police corruption investigation involving Hong Kong's business and political elite. Between 2005 and 2007, Thomas paid approximately $3.7 million to Rafael Hui. That also happens to be the exact period when Mr. Hui was serving as Hong Kong's Chief Secretary, a job that paid a salary of $220,000 per year.

During the two years Rafael was Hong Kong's second most powerful official earning $220k per year, he was also receiving $1.9 million in annual cash payments from Thomas Kwok. Thomas has claimed that the payments were nothing more than a simple consulting fee but that excuse was put in question because the payments were made in cash using a series of go-betweens. If it was a simple consulting fee, why not put it on the books?

Thomas Kwok was sentenced to 5 years in prison. Raymond Kwok was acquitted. Allegedly, the information that led to Thomas and Raymond's arrest was provided by Walter.

Now let's be clear, in Hong Kong, just a few families control essentially all of the real estate, shopping centers, and utilities. One of those families is the Kwoks. Starting salary for a college grad in Hong Kong is $25,000. An average two bedroom apartment in one of the Kwok-owned buildings can easily rent for more than $4000 per month. Hong Kong has the most expensive real estate in the world in terms of price per square. The Kwok brothers' company is the largest land owner in Hong Kong and is arguably the main reasons cost of living has sky rocketed over the last several decades.

Read more: How The Kwok Family Became One Of The Wealthiest Families On The Planet With A Combined Net Worth of $34 Billion

Jerry Lorenzo Net Worth

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Jerry Lorenzo net worth: Jerry Lorenzo is an American fashion and sneaker designer who has a net worth of $30 million. Jerry Lorenzo was born in October 1976. He founded the streetwear fashion label Fear of God. Lorenzo is the son of Jerry Manuel, the former Major League Baseball player, coach, and manager. Jerry Lorenzo graduated from Loyola Marymount University. He founded his label Fear of God in 2012 with no fashion training and as a relative unknown. He got a big break when he was asked to create five custom looks for singer Justin Bieber to wear during his Purpose World Tour. Lorenzo also helped design merchandise for Bieber's tour. Many celebrities are fans of his brand including Kanye West and Kendall Jenner. Fear of God has become extremely popular and successful. The company has millions of fans across social media. The brand's offerings sell out at high end stores almost instantly. That's an especially impressive feat when you consider that a hoodie can cost $700 and a pair of jeans can easily go for more than $1000. In October 2018, Jerry purchased a home in Los Angles for $8.5 million. It was the biggest home sale price in the LA neighborhood of Los Feliz in 2018.

Read more: Jerry Lorenzo Net Worth

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