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Andre Smith Net Worth

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Andre Smith net worth and salary: Andre Smith is an American professional football player who has a net worth of $20 million. Andre Smith was born in Birmingham, Alabama in January 1987. He is an offensive tackle who played for Huffman High School where he received High School All-Americans honors from USA Today and was a finalist for the Walter Payton Trophy in 2005. Smith played his college football at Alabama where he was a two time First-team All-SEC selection and a unanimous All-American in 2008 when he also won the Outland Trophy after winning the Jacobs Blocking Trophy the previous year. Smith was drafted #6 overall by the Cincinnati Bengals in the 2009 NFL Draft. He played for the Bengals from 2009 to 2015 and then played with the Minnesota Vikings in 2016, Cincinnati Bengals again in 2017, and Arizona Cardinals in 2018. In 2009 he signed a six year deal with the Bengals for $42 million and in 2013 he re-signed to a three year deal worth $18 million. He signed a one year deal with the Vikings for $3.5 million in 2016.

Read more: Andre Smith Net Worth


Google Paid A Few Executives INSANE Amounts Of Money After They Were Accused Of Sexual Harassment

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Here's a multiple choice question for you. What happens when a top male executive sexually harasses a co-worker and is asked to leave the company. Does he

  1. Leave with his stock options in place
  2. Leave with nothing
  3. Leave with an extra $90 million gift

If your name is Andy Rubin and the company is Google, the answer is, rather unbelievably, C.

Rubin created the Android mobile platform, which Google purchased in 2005 for $50 million. After the acquisition Rubin joined Google and helped build Android into the huge success it is today. Android is the software used in 80% of the world's smartphones. Google's search engine made the company dominant on desktops, but Android made the company dominant on the rapidly growing mobile segment of the market. The apps and ads running on Android generate tens of billions of dollars for Google.

Brian Ach/Getty Images

Rubin allegedly berated employees that worked under him, calling them stupid and incompetent. Google looked the other way. The company only took action when bondage sex videos were found on his work computer. His punishment? Google docked his bonus that year.

Rubin met his wife at Google. He also dated other women at the company while he was married, according to a number of people who worked with him. He had a consensual relationship with a woman on the Android team in 2011. Google's human resources department was not notified despite company rules requiring disclosure of relationships between employees.  In court documents, Rubin's ex-wife Rie categorized the relationships Rubin had during their marriage as "ownership relationships." He paid these women hundreds of thousands of dollars. In a screenshot of an email Rubin sent to one of these women in August 2015, he wrote:

"You will be happy being taken care of. Being owned is kinda like you are my property, and I can loan you to other people."

In the wake of his divorce, Rubin and his ex-wife are trying to sell their $34 million estate in Woodside, California.

Rubin was made a senior vice president in 2011 and was making $20 million a year in salary, bonus, and stock-based compensation. In 2012, Google lend Rubin $14 million to buy a beach house in Japan. The loan was given to Rubin at less than 1% interest. In 2014, Google gave Rubin a bonus of $40 million in stock and an additional $72 million in stock over the next two years.

In and around 2013, Rubin was casually seeing another woman on the Android team. They had been dating since 2012, but by 2012 but she was over him and wanted to break things off. However, she worried that it would hurt her career. She agreed to meet him at a hotel in March 2013 and he allegedly pressured her into performing oral sex on him. She waited about a year before filing a complaint with Google's human resources department. Her complaint launched an investigation into Rubin.

In September 2014, just a handful of weeks into the investigation, Rubin was awarded a stock grant worth $150 million to be paid out over several years. People close to the situation noted that this is an unusually high sum, even for Google. Generally, co-founder Larry Page recommends how much senior executives are paid. Over the years, Page reportedly felt that Rubin had not been compensated enough for his contribution to Android.

The investigation into Rubin found that the complaint against him was credible. Rubin denied it, but it was clear that the relationship was inappropriate, and Page decided Rubin should exit the company. Negotiations on his exit package began. Google determined that Rubin would be paid $90 million to exit the company. He'd receive that amount in the form of payments of $2.5 million a month for two years and $1.25 million a month for the following two years. The company also delayed the repayment of the $14 million beach house loan and prevented Rubin from working for rivals or publicly disparaging Google.

Google then went out of its way to make the separation seem amicable. Page issued the following statement:

"I want to wish Andy all the best with what's next," Larry Page, Google's chief executive then, said in a public statement. "With Android he created something truly remarkable — with a billion-plus happy users."

Rubin founded Playground Global six months after leaving Google. Playground has raised $800 million, partly from an investment from Google. Rubin also founded an Android phone maker called Essential.

In less than a decade, Rubin's wealth increased by 35 times. His net worth is now $350 million, up from $10 million.

Unfortunately, Rubin is not the only Google exec to be paid big bucks in the wake of sexual harassment charges.

Google was founded in 1998 by Larry Page and Sergey Brin. It had a permissive workplace culture from the very start. It is widely known in Silicon Valley that Page and Marissa Mayer, who was one of the company's first engineers, dated. Former Google CEO Eric Schmidt once hired his mistress to work as a consultant at Google. In 2014, Brin had a consensual extramarital affair with an employee.

David Drummond joined Google in 2002 as its general counsel. He had an extramarital affair with a senior contract manager in the legal department. They began dating in 2004 and had a son together in 2007. Drummond didn't disclose their affair to the company until after his son was born.

In 2013, Richard DeVaul, a director at Google X, interviewed a young hardware engineer. During her interview, DeVaul told her that he and his wife were polyamorous. He invited her to Burning Man. She thought it was an extension of the job interview and brought conservative clothes. At DeVaul's camp, he asked her to remove her shirt. She refused. A few weeks later she was informed she did not get the job.

In 2015, an employee accused senior vice president of search Amit Singhal of groping her at an offsite event where the booze was flowing. Google found her claim credible and Singhal resigned. He left with an exit package that paid him millions.

As a result of all of these incidences of Google paying sexual harassers, a group of more than 200 engineers at Google are organizing a walkout for later this week in protest of how the company protects executives accused of sexual misconduct. This "women's walk" is expected to happen on Thursday, November 1st.

Read more: Google Paid A Few Executives INSANE Amounts Of Money After They Were Accused Of Sexual Harassment

Fabletics Took Kate Hudson From Almost Famous To Athleisure Entrepreneur

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Back in 2013, Don Ressler and Adam Goldenberg had an idea. They are the founders of the TechStyle Fashion Group, parent company of shoe subscription companies JustFab and Shoe Dazzle, and they thought that the world needed a new athleisure brand. Athleisure has thrived in recent years not only because of the fitness trend, but because Americans have embraced dressing down and being comfortable. Athleisure is a broad category that is made of athletic apparel that can be worn outside of the gym – like women's yoga pants or executives wearing sneakers with their suits. Athleisure is not a fad. It is not a trend. Ressler and Goldenberg recognized that. But back in 2013, there wasn't a stylish, colorful, reasonably priced, quality athleisure brand out there. Pretty much all of the brands out there five years ago carried nearly exclusively black and gray workout gear and overpriced it. For instance, Lululemon's tights cost $98.

Ressler and Goldenberg wanted to change that, but they needed a partner. Kate Hudson was the first person they thought of. They saw her as approachable and friendly. She has an active lifestyle. She was the perfect pitchman for their subscription-based athleisure brand. In just five years, Fabletics has grown into a $300 million company that is designed to be inclusive (it offers a range of sizes) and empowering.

Michael Buckner/Getty Images for Fabletics

Kate Hudson was very involved right from the start. She reviewed budgets. She weighed in on social media strategies. She is heavily involved in the design process. She reviews the sales numbers weekly to be on top of which styles are selling and which are not. And unlike most celebrity endorsements – it isn't hard to picture Hudson running around town with her kids or going to the gym in her Fabletics gear. On the other hand, does LeBron James even FIT into a Kia?

Kate Hudson simply won't get involved in something if it isn't authentic to her. That's why she's likeable. That's why she's had such a long career.

When Fabletics launched, they had experienced investors, a celebrity founder, and a good idea—the athleisure segment was about to explode. However, success didn't come easily. The first run of clothing cost $300,000 and had to be thrown out due to poor quality. The launch of the company then had to be delayed six months as a result.

Hudson also got negative press due to the subscription model of Fabletics. Celebrities like Cher called Fabletics' membership model a scam. Members have until the 5th of the month to skip the month. On the 6th, $49.95 is charged to the credit card on file. Those funds can then be applied to Fabletics gear. Another early concern was that the most popular items were often sold out. It was Hudson that led the effort to make clear communications with their customers a priority.

After that, Fabletics grew rapidly. In 2014, the company had triple digit growth. From 2015 to 2016, the company grew 43%. In 2017 they reached $250 million in sales and had 1.2 million members. Fabletics is projected to reach $300 million in sales in 2018.

Fabletics' growth is also fueled by their data-driven approach to business. This allows the company to match their customers with the perfect outfit—whether that is online or at a retail store.

The athleisure segment is a crowded but thriving marketplace. For the past couple of decades, fitness and nutrition have been more and more emphasized in American culture. This has made athleisure –a strange hybrid of athletic wear and business casual –the biggest growing segment of the apparel industry. In 2015, retail sales overall were flat, but sales of athletic apparel were up 12%. Even more impressive, a report published by Global Industry Analysts, Inc. states that the global market for athletic apparel is projected to reach $231.7 billion by 2024.

It's big business. Nike, Adidas, Lululemon, Athleta, Under Armor and others are all bringing in healthy profits. Fabletics looks to compete with these big players. They plan to have 100 retail stores across the U.S. by the end of 2020. The company is also expanding outside of the U.S. with plans to open retail stores in the Philippines and other overseas markets. Fabletics is the only division in the TechStyle Fashion Group which has successfully made the move from online subscription business to brick and mortar retail.

Fabletics also recently entered into a deal to partner with cheer and dance outfitter and competition sponsor Varsity Spirit. The long-term agreement will give Fabletics visibility a chance to host pop up shops at up to 20 championship competitions in the U.S. during the 2018-2019 and 2019-2020 seasons.

As for Hudson, she won't be quitting her day job anytime soon. After all, acting is in her blood. She does admit that she spends more time these days working on Fabletics than she does on movies.

It shows. Her entrepreneurial venture with Fabletics is padding her bank accounts nicely. If Hudson has a 20% stake in the business, she's sitting on a $60 million athleisure empire.

Read more: Fabletics Took Kate Hudson From Almost Famous To Athleisure Entrepreneur

Adam Bowen And James Monsees Have Made Over $1.6 Billion As The Founders Of Juul

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You may not be familiar with the names Adam Bowen and James Monsees, but unless you've been living on the moon (and without an internet connection), you've undoubtedly heard of Juul, the explosively popular e-cig brand that's reportedly worth some $15 billion. The pair were both graduate students at Stanford University when they broke into the electronic cigarette field, and now they've each made a cool $843 million and counting for their troubles.

Originally, according to a recent Bloomberg profile, Bowen and Monsees' motivations weren't strictly financial. Instead, they got into this young and growing industry because they were both battling smoking addictions that they wanted to find new ways to kick.

Scott Olson/Getty Images

Their first foray into electronic cigarettes came in 2007 with the founding of Ploom, which they later ended up selling in 2015 to Japan Tobacco Inc. After that, they renamed their own company Pax Labs Inc., and introduced a new, small, USB-shaped e-cig called the Juul. Now, the product has risen to dominance with incredible speed, conquering 53 percent of the marketplace since the end of 2017, when it held just 16 percent.

Following the company's most recent round of funding in July, Bowen and Monsees' 5.6 percent stakes ballooned to their current value, and is expected to balloon some more before all is said and done, as e-cig sales continue to grow and make up more and more of the smoking market overall.

Juul's (Juul Labs now being its own company, spun off from Pax last year) stated goal continues to be to help its users quit traditional cigarettes, but critics note that the available flavors, like mango, cucumber, fruit and creme, make natural selling points for children and other nonsmokers, a worrying prospect given Juul's status as one of the most nicotine-packed products on the market. The company faces pressure from the FDA for its underage appeal, but the product continues to expand worldwide, having just been introduced in Russia. In addition, a ban on Juul and other e-cig pods with high nicotine levels in Israel is reportedly being appealed.

Read more: Adam Bowen And James Monsees Have Made Over $1.6 Billion As The Founders Of Juul

The Ultra-Rich Spend $3 Billion A Year On Extravagant Superyachts

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I once heard a bit of financial wisdom that said in order to afford a yacht, you need to be able to afford ten yachts. That wisdom would seem to be backed up by some of the financial trends involving the most expensive "superyachts" favored by the wealthiest of the wealthy, which tend to have lots of less obvious expenditures associated with their ownership. According to a recent Bloomberg story on those kinds of expenditures, superyacht owners have spent an average of $3 billion a year on crafts known to be "money-burning boats."

$3 billion isn't too much, really, for the people splurging on these large and luxurious boats. William Mathieson is the editorial and intelligence director at the Superyacht Group, and knows a thing or two about this subject. He sums up the current marketplace on the extravagant crafts like this:

"We look at it as a ballpark 1,500 to 2,000 serious ultra-high-net-worth individuals who drive the industry … Guys who will buy a boat, trade on the secondhand market, then buy a bigger boat—they're the catalysts. They really know what they're buying and can push the shipyards and squeeze margins."

Phil Walter/Getty Images

2018 has been a good year for superyacht sales. Since the beginning of the year through mid-October, there have been almost 300 sales, which is already up from 2017, which only saw 249 such vessels sold. And as I mentioned earlier, they're incredibly expensive to own — all told, between paying the crew, keeping the ship fueled, docked, and otherwise maintained, a typical owner will pay about 10 percent of a superyacht's overall value, year after year. And Sam Tucker, head of superyachts at VesselsValue, is on hand to dispel any notions you might have about the superyacht of your dreams being a good investment in the long run:

"It is extremely rare to see a vessel appreciate."

That hasn't stopped some of the richest people in the world from purchasing their own superyachts, and spending an incredible amount of money in the process. All together, the 25 most expensive superyachts in existence come to a combined market value of $7.5 billion, as per a valuation service called VesselsValue.

Read more: The Ultra-Rich Spend $3 Billion A Year On Extravagant Superyachts

Stan Lee Net Worth: How Much Was The Marvel Mastermind Worth At The Time Of His Death?

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Comic book genius Stan Lee just died at the age of 95. His creations revolutionized the comic industry and would eventually allow Hollywood to earn billions upon billions of dollars. In collaboration with other artists, he created or co-created Spider Man, the Fantastic Four, Doctor Strange, Daredevil, Black Panther, The Incredible Hulk,  Iron Man, Ant-Man, Thor and the X-Men. The movies based on his creations have earned a staggering $25 billion+ at the global box office. So what did all that success do for Stan? What was Stan Lee's net worth at the time of his death today?

Stan was very wealthy, but perhaps not as wealthy as you might assume considering the empire that was eventually built off his creations. At the time of his death today, we estimate that Stan Lee's net worth was $50 million.

If that's lower than you'd expect, you're not alone. In a March 2014 Playboy interview, Stan was asked how much he had financially gained from his involvement in Marvel over the years, especially after the company was sold to Disney for $4 billion in 2009. Lee's response was:

"I don't have $200 million. I don't have $150 million. I don't have $100 million or anywhere near that."

When asked if he thought that was fair considering George Lucas, who is similarly prolific, is worth $7.3 billion, Stan replied:

"George Lucas did it all by himself. He came up with the ideas. He produced the movies. He wrote and directed them and held the rights to the merchandising. It was all his. In my case I worked for the publisher. If the books didn't sell, the publisher went broke—and a lot of publishers did go broke."

Vince Bucci/Getty Images

Despite not benefiting in a major way from Marvel's sale to Disney, Stan wasn't exactly hung out to dry. As part of the transaction, Disney agreed to continue paying Stan a lifetime salary of $1 million per year.

Other Assets:

For 40+ years, Stan lived in a modest two story home on a street that over time became one of LA's most desirable locations. His neighbors include Dr. Dre and Leonardo DiCaprio. An average house on this street can easily list for $20 million. In June of this year, his direct next-door neighbor sold a similar-sized (but vastly more updated) property for $29 million. He owned at least one other home in the same neighborhood which he bought for $4.4 million in 2016. And that was after selling a different home in the same neighborhood for $2.8 million.

He also had an extremely valuable art collection including original work not only from himself but from artists such as Salvador Dali, Roy Lichtenstein, Joan Miro and Pablo Picasso. The value of these works in the right market could significantly increase Stan's estate. If Stan still owns some of his earliest comic creations, each one could be worth huge sums of money. In 2012 someone paid $203,150 for a mint condition first issue of The Fantastic Four.

What Could Have Been:

Stan Lee's net worth could have been exponentially higher if a legal battle in the early 2000s had gone his way. In November 2002 he sued Marvel arguing that the company had failed to honor a contract that promised him 10% of all profits generated by film and television projects based on his creations. A judge initially sided with Stan but eventually a settlement was reached where Stan was given a one-time payment of $10 million.

Believe it or not, at the time Marvel movies were not particularly profitable and $10 million might have been seen as a big win. For example, thanks to a complicated studio and financing partnership, Marvel actually lost money on several movies that generated huge sums of money at the box office.

The first big budget movie based on his characters, 2000's X-Men, earned $130 million in North America alone. The 2002 movie "Spider-Man" earned $400 million and 2004's "Spider-Man 2" earned $800 million. Unfortunately for Marvel (and Stan), both Spider Man movies were technically made by Sony Pictures after Marvel sold Sony the rights. So Marvel's cut of the profits was effectively ZERO on both movies. Marvel did make some money thanks to a few licensing and merchandise deals, but nothing substantial.

Had Stan been able to secure even 5% of the profits based on his characters, he would have easily been one of the highest paid people in Hollywood every year. Though it's also very likely that Disney either would have bought him out of that contract or never would have agreed to buy Marvel because of that arrangement.

Either way, Stan made out OK and no one can deny that he was an absolute genius on the level of Walt Disney. He may be gone, but his creations will live on forever.

Read more: Stan Lee Net Worth: How Much Was The Marvel Mastermind Worth At The Time Of His Death?

Kim And Kanye Hired Private Firefighters To Save Their $60 Million Mansion… And The Rest Of The Neighborhood

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Being neighbors with Kanye West and Kim Kardashian probably has its positives and negatives. But right now, all of their neighbors are celebrating their proximity to the insanely famous couple following news that they hired their own force of private firefighters to prevent their $60 million home from succumbing to the ongoing Woolsey wildfire in California — and not only did they succeed, but they saved countless other homes on their Hidden Hills cul-de-sac in the process.

Kardashian posted video of the wildfire on Thursday night, following an evacuation order of the area that had the whole family staying in a hotel, telling her millions of followers on Instagram that she and her family had been ordered to evacuate:

"Just landed back home and had 1 hour to pack up & evacuate our home. I pray everyone is safe."

Larry Busacca/Getty Images

The next day, the wildfire had come closer to the house than ever. Thanks to the way the cul-de-sac is arranged, if their house had gone up in flames, it would have only been a matter of time before the rest of the block went up as well, thanks to a kind of "domino effect" stemming from the direction of the fire and the bordering field.

Here's a helicopter view of the house and surrounding neighborhood to get an idea of what firefighters were dealing with:

To try and prevent that from happening, the Wests weren't ready to depend on the already overburdened pubic fire department in the area, instead taking the step of hiring a team of their own armed with water hoses to fight off the blaze, digging copious ditches to create a "fire break" to prevent further spreading as well.

We don't know how much a thing like that costs, but whatever the expense it's proven to be worth it so far, and many of Kim and Kanye's neighbors are thankful for the extra effort in saving their homes from the blaze.

Read more: Kim And Kanye Hired Private Firefighters To Save Their $60 Million Mansion… And The Rest Of The Neighborhood

Little-Known Hong Kong Billionaire Karen Lo Has Quietly Amassed Enormous American Real Estate Portfolio

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Back in April, Sting and his wife Trudie Styler sold their duplex penthouse at the ultra exclusive 15 Central Park West for $50 million. The buyer was not disclosed at the time. Now we know that the buyer of Sting's place is billionaire Karen Lo from Hong Kong. This isn't Lo's first foray into American real estate. Ms. Lo owns some substantial estates in Los Angeles as well. In fact, over roughly the past 18 months, Karen has dropped $200 million on luxury real estate from coast to coast.

Karen Lo is a member of not just one, but two of Asia's wealthiest families. Her paternal grandfather, Dr. Kwee Seong Lo, founded the Vitasoy beverage empire. Vitasoy is second in popularity in Hong Kong. Only Coca-Cola is more popular. The company has its U.S. headquarters in San Francisco. Karen is also related to the Macau casino tycoon Stanley Ho. Her sister Sharon Lo is married to Lawrence Ho, Stanley's oldest son, and a billionaire in his own right. Through her sister, Karen is also related to Pansy Ho, who was once the richest woman in Asia, and these days makes due with her $6 billion net worth.

Karen Lo on right. Photo via Crossroads Foundation Photos/Wikimedia Commons

Karen likes her real estate. The 15 Central Park West penthouse she purchased from Sting is a three bedroom, five and a half bathroom duplex. Its kitchen has four ovens, three dishwashers, and two refrigerators. The unit has a library and a 400 foot terrace overlooking Central Park. Residents of the building include Denzel Washington, hedge fun billionaire Daniel Loeb, fashion designer Elie Tahari, and Russian heiress Ekaterina Rybolovleva.

The unit at 15 Central Park West isn't Lo's only Manhattan address. At the end of 2016, she spent $29.3 million on two adjacent units in the 551 W 21st building in Chelsea. She spent $1,500,000 combining the two units and then tried to flip them early in 2018 for $36.5 million. The 8,350 square foot condo has seven bedrooms and eight bathrooms, a library, and 82-foot grand room with views of downtown Manhattan and the Hudson River. The enormous condo is still on the market.

In Los Angeles, Lo owns one of the most epic estates in Malibu, which she picked up for $70 million in March 2017. She also has a $36 million, two house compound on pricey South Mapleton Drive in Holmby Hills. She bought the first house in April 2017 for $18.8 million and picked up the house next door, which used to be owned by Hugh Hefner and used as a guest house for the Playboy Mansion, for $17.3 million. Then in November 2017, Lo paid $17.7 million for 1.3 acres of vacant land in East Gate Bel Air. The land is where Bob Newhart's mansion once stood. Newhart sold that home for $14.5 million in 2016 to developer Robert Quigg. Quigg then bulldozed the mansion –supposedly without permits – and then left L.A. with his mistress – leaving behind angry creditors and a trail of debts. Lo picked up the land in an all cash deal through bankruptcy court.

All in all, Lo has spent $202.9 million on luxury real estate from coast to coast in the United States over the past year and a half.

Read more: Little-Known Hong Kong Billionaire Karen Lo Has Quietly Amassed Enormous American Real Estate Portfolio


T-Mobile CEO John Legere Is Selling His NYC Penthouse For Almost $18 Million

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CNBC reports that John Legere, CEO of T-Mobile and prodigious purchaser of sponsored tweets on Twitter, has listed his New York City penthouse at 91 Central Park West for $17.96 million, more or less exactly what he paid for it when he first bought it, back in 2015.

That's reportedly after he originally put the penthouse up for sale in February at a price of $22 million, which is lower still than $27.5 million the apartment got at one point in its illustrious history, which also saw it at one time serving as the home of the infamous newspaper magnate William Randolph Hearst.

The Corocan Group

Regardless of whatever highs and lows this penthouse may experience due to the ever fluctuating luxury real estate market, it's a hell of a place to call home. Measuring in at almost 3,600 square feet stacked across two floors, the penthouse has four bedrooms and four bathrooms, with two bedrooms directly overlooking Central Park, plus a private 1,700 square foot terrace that goes around the length of the building outside. And I forgot to mention the elevator – the penthouse's real estate listing on Compass goes into detail on that point and a few others:

"A beautifully restored elevator adorned with marquetry, brass and crown molding opens directly to the penthouse's private stone foyer. Through a gallery with a vaulted ceiling are double oak doors that lead to a grand corner living room. Inside, a stunning plaster ceiling over 11 feet high champions the home's exceptional volume. Natural light bathes the interior through large exposures to the south and east. The focal point is a wood-burning fireplace surrounded by an ornate floor-to-ceiling mantle of majestic proportions and craftsmanship."

On the off chance you aren't sufficiently salivating at the prospect of such a home, you can take a look at the 91 Central Park West penthouse in the video below:

 

Read more: T-Mobile CEO John Legere Is Selling His NYC Penthouse For Almost $18 Million

It Took This Entrepreneur Just 3 1/2 Years To Build A $24 Billion Company

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Colin Huang is the founder and CEO of shopping app Pinduoduo. Huang grew up in Hangzhou. He went to Zhejiang University and got his master's in computer science from the University of Wisconsin. He started at Google in 2004 as a software engineer working on early e-commerce algorithms. In 2006, he returned to China to help start Google China. He started his first company in 2007, an e-commerce site called Ouku.com. He sold it three years later. Huang then founded Pinduoduo. The Shanghai based startup is accessible on WeChat, China's popular messaging app. Pinduoduo brings the shopping mall experience to your smartphone. A group of people shop together to get discounts.

Pinduoduo is used by as many as five million people in China every day. The company went public in late July at $24 a share, valuing it at just under $24 billion and making Huang an instant billionaire and the 12th richest person in China. He did all of this in just three and a half years. That's pretty darn fast. However, it is Huang's long background as an entrepreneur that laid the foundation for the quick success of his latest venture.

BRYAN R. SMITH/AFP/Getty Images

Sky9 Capital is an investor in Pinduoduo's Series B funding round alongside Tencent, Lightspeed, and Sequoia. Ron Cao, an executive at Shanghai based Sky9, reported that his firm was very impressed with Huang's entrepreneurial spirit, leading them to invest in the company. Cao feels that Huang understands a number of things better than the average founder and that, more than anything else, is what led to the success of Pinduoduo after such a short period of time.

Huang understands international markets better than more. He's bilingual and spent time working in the United States at Google in the early 2000s. This gives him a better grasp of another culture compared to most American entrepreneurs.

Huang also has decades of entrepreneurial experience to draw from. He is a serial entrepreneur who built three companies before Pinduoduo, two e-commerce startups and a gaming studio. None of these companies had the success that Pinduoduo does, but Huang both made money off of them and gained valuable experience from them.

Huang knows how to create viral, social based shopping. That is a big part of Pinduoduo's success, it gives shoppers and incentive to share on the platform. It connects groups of buyers to suppliers. Once the group has agreed to buy, the supplies ship their deeply discounted products. It is a form of "social commerce," that leverages personal networks to the advantage of both the business and the customer.

Huang has a global vision. At the moment, Pinduoduo is only available in China. However, it isn't a stretch to see how the concept of Pinduoduo could be a success outside of China as well.

Extremely low prices are a compelling attraction of Pinduoduo. The discount is usually up to 90%, including everything from bed sheets for $1.50 to computers for $150.

Back in July, we wrote about the upcoming U.S. IPO of Pinduoduo. At the time, we reported that the company was offering 85.6 shares at $16 to $19 each and Huang would own 46.8 percent of his company after the IPO. When Pinduoduo went public, it did so at $19 a share and closed the first day of trading at $24 a share. As of this writing, shares of PDD are trading on the NASDAQ at $19.64.

Read more: It Took This Entrepreneur Just 3 1/2 Years To Build A $24 Billion Company

Le'Veon Bell Has Now Forfeited More Than $8.5 Million

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Le'Veon Bell is back in Pittsburgh, though there's still no word when he'll officially rejoin the Pittsburgh Steelers. The running back was spotted playing basketball at a fitness club in the city, which likely isn't what the Steelers – or any other team interested in signing Bell – want to see.

Bell had been training in Miami after failing to sign his $14.5 million franchise tender. He wants to preserve his health while seeking a larger contract. However, by not signing or reaching a long-term deal, Bell has now forfeited $8,555,214 this season.

This next week is where things will get real interesting. Bell must report to the Steelers by Tuesday, November 13, or else he'll forfeit this season entirely. If he reports, he'll sign his franchise tender, which will be worth about $5.9 million at this point.

Andy Lyons/Getty Images

If Bell doesn't report by November 13, the Steelers could apply the transition tag to him. It would be worth 120 percent of his $12.1 million franchise tag from 2017, which would be the last time the running back played.

The Steelers – or another team – could also slap a third franchise tag on Bell, but that would be costly. Whether Bell plays this year or not, a franchise tag in 2019 would be worth upwards of $25 million.

While Bell is certainly a great running back, his leverage has been hurt by his replacement, James Conner. Conner, who overcame cancer in college and is now a starting running back in the NFL, has rushed for 706 yards this season, leading the AFC in rushing through nine games. He's also one of a trio of players with 500 rushing yards and 375 receiving yards.

On top of all that, he's doing things Bell has never done. Conner is the first player in franchise history to reach 1,000 scrimmage yards – he's at 1,085 right now – and 10 touchdowns through the first eight games of a season.

Read more: Le'Veon Bell Has Now Forfeited More Than $8.5 Million

Kim Wilson Net Worth

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Kim Wilson net worth: Kim Wilson is an American singer and musician who has a net worth of $4 million. Kim Wilson was born in Detroit, Michigan in January 1951. He is best known for being the lead singer of the band the Fabulous Thunderbirds. The band formed in 1974 and released their debut studio album Girls Go Wild in 1979. The Fabulous Thunderbirds also released the albums What's the Word in 1980, Butt Rockin' in 1981, T-Bird Rhythm in 1982, Tuff Enuff in 1986, Hot Number in 1987, Powerful Stuff in 1989, Walk That Walk, Talk That Talk in 1991, Roll of the Dice in 1995, High Water in 1997, Painted On in 2005, Thunderbirds! In 2009, On the Verge in 2013, and Strong Like That in 2016. Their best known single "Tuff Enuff" reached #10 in the US and their single "Wrap It Up" reached #50. Kim Wilson has released several solo albums and guested on albums by Bonnie Raitt, Eric Clapton, Mark Knopfler, Buddy Guy, and more.

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John Dye Net Worth

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John Dye net worth: John Dye was an American actor who had a net worth of $3 million at the time of his death. John Dye was born in Amory, Mississippi in January 1963 and passed away in January 2011. He was best known for starring as Andrew on the television series Touched by an Angel from 1996 to 2003. Dye also had recurring roles on the TV series The Young and the Restless as Jason Carter in 1986, Tour of Duty as Pfc. Francis "Doc Hoc" Hockenbury from 1989 to 1990, Jack's Place as Greg Toback from 1992 to 1993, Hotel Malibu as Jack Mayfield in 1994, and Promised Land as Andrew from 1996 to 1998. John Dye also appeared in several films including Making the Grade, Modern Girls, Campus Man, Best of the Best, The Perfect Weapon, Sioux City, Heart of the Beholder, and Fist of the Warrior. John Dye passed away on January 10, 2011 at 47 years old from heart related problems.

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Valerie Mars Net Worth

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Valerie Mars net worth: Valerie Mars is an American billionaire heiress and businesswoman who has a net worth of $6 billion. Valerie Mars is best known for being a member of the Mars family. Valerie Mars is a fourth generation member of the family. Her father was Forrest Mars Jr. and her three sisters are Pamela Mars-Wright, Marijke Mars, and Victoria B. Mars. In 2016 she inherited about 8% of Mars Inc. which made her a billionaire. Marijke Mars graduated from Yale University and earned her MBA from Columbia University. She works as a senior vice president and the head of corporate development for Mars, Inc. In 2014 she became a board member of Fiat Chrysler Automobiles. Mars was founded in 1911 and posted a revenue of $35 billion in 2017. The company's products include 3 Musketeers, Dove, M&M's, Milky Way, Snickers, Twix, Uncle Ben's Rice, several pet products, and products manufactured by The Wrigley Company.

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Bruce Rauner Net Worth

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Bruce Rauner net worth: Bruce Rauner is an American businessman and politician who has a net worth of $400 million. Bruce Rauner was born in Chicago, Illinois in February 1957. He graduated from Dartmouth College and earned his MBA from Harvard University. He is a Republican who began serving as the 42nd Governor of Illinois in 2015. Rauner served as the Chairman of R8 Capital partners as well as the Chairman of GTCR, a private equity firm. In 2014 he was defeated by Democratic incumbent Pat Quinn by a narrow margin and did not win the Republican nomination. Bruce Rauner married Diana Mendley in 1994 and previously being married and has six children. He has served as the Chairman of Choose Chicago and a Chairman of The Commercial Club of Chicago. He spent $26 million of his own money on his election and in 2015 he reported earnings of more than $180 million. He promised to take a $1 salary as governor. He ultimately did not win his race.

Read more: Bruce Rauner Net Worth


Dick Durbin Net Worth

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Dick Durbin net worth: Dick Durbin is an American politician who has a net worth of $3 million. Dick Durbin was born in East St. Louis, Illinois in November 1944. He is a Democrat who graduated from Georgetown University with his BS and JD. Durbin served as a member of the U.S House of Representatives from Illinois's 20th district from 1983 to 1997. From 2007 to 2015 he was the Senate Majority Whip and he became a United States Senator from Illinois in 1997. Durbin became Senate Minority Whip in 2015. He has served as the Assistant Democratic Leader since 2005. He worked in the state legal counsel. He has been involved in attempts to remove PAC radio advertisements and served on several committees within the Committee on Appropriations and the Committee on the Judiciary as well as the Committee on Rules and Administration. Dick Durbin is married and has three children.

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Gustav Magnar Witzøe Net Worth

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Gustav Magnar Witzøe net worth: Gustav Magnar Witzøe is a Norwegian businessman who has a net worth of $3 billion. Gustav Magnar Witzøe was born in Froya, Trondheim, Norway in 1993. He holds significant shares in the salmon fish farming company Salmar ASA and he is one of the youngest billionaires anywhere in the world. His father founded the company Salmar which has become one of the world's largest farmed salmon producers. He also owns significant stakes in the second largest salmon farmer in the UK, Scottish Sea Farms. Gustav Magnar Witzøe's father transferred 47% of the company to his son in 2013 so he could void a heavy inheritance tax bill. Gustav once worked as a milker at the company's fish farms. He has worked for MGM Property and invested in properties and technology startups. Gustav Magnar Witzøe is also a model and has more than 70 thousand followers on Instagram.

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The Extravagant Ways Billionaire Oligarch Roman Abramovich Spends His Money

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Russian billionaire Roman Abramovich is pretty well known for his collection of super yachts, private jets, lavish homes, luxury cars, and the Chelsea football club. In fact, the Wall Street Journal once called his collection of material possessions "The Roman Empire." Touché. Once upon a time he was the richest man in Russia, but these days he has to just deal with the $10 billion fortune he has and all the ways in which he can spend it.

One of his major purchases was, of course, the Chelsea Football Club. He acquired the soccer team in 2003 from long-time owner Ken Bates for $105 million. Chelsea is one of the most valuable soccer clubs in the world. In September, reports surfaced that Abramovich was looking to sell Chelsea. Reportedly, he is not happy about selling the team, but he feels backed into a corner. Abramovich is restructuring his most valuable assets to shield them from potential sanctions from the United States.

The majority of Abramovich's wealth comes from the sale of Russian state-owned assets after the fall of the Soviet Union. Just before the Soviet Union began to fail, Abramovich used $2000 of his life savings to begin smuggling black market goods and other contraband into Russia. He soon expanded, dealing in everything from plastic toys to automobile parts. At one point, during the height of perestroika Roman even sold imported rubber duckies right from his apartment in Moscow.

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In 1988, Russia's political climate under Mikhail Gorbachev allowed Abramovich to legitimize his black market smuggling business. He took the money he'd made and set up a company that manufactured dolls, toys and furniture. Abramovich would go on to set up and liquidated at least 20 companies during the early 1990s, in industries ranging as wide and diverse as pig farming to bodyguard recruitment.

Roman's big break came in the mid-90s when he became friends with a powerful Russian businessman named Boris Berezovsky. Berezovsky introduced him to the inner circle of President Boris Yeltsin. Together, the two acquired the controlling interest in Russia's fifth largest oil company Sibneft. Abramovich and Berezovsky each came up with $100 million to purchase a controlling interest in the company. This $200 million investment was well below the company's stock market value at the time, and some bribery was likely involved. The duo rapidly increased Sibneft's oil production and soon the company was earning profits in the billions. Abramovich later admitted in court that he paid billions of dollars in bribes to government officials on behalf of the company and obtained protection from the Russian Mafia to secure the purchase of these and many other assets. Abramovich went on to acquire a full 70% of Sibneft, 50% of the Russian aluminum oil monopoly Rusal, and 36% of Aeroflot, Russia's national airline, exhibiting a clear and utter ruthlessness in every business dealing. When Sibneft was bought out by a rival Russian oil firm, Abramovich reportedly earned $10 billion in cash for his 70% stake. Incredibly, today the majority of Abramovich's wealth still sits in cash or other extremely liquid asset classes.

Today, Roman owns the biggest share of Evraz, Russia's second largest steel manufacturer. He also owns a stake in the world's largest nickel producer, Norlisk Nickel.

Abramovich has been married three times and has seven children. In 2017, he separated from his third wife, Dasha Zhukova with whom he has two children. They were married for 10 years and co-founded both the Garage Museum of Contemporary Art in Moscow and the New Holland Island cultural Centre in Saint Petersburg. Their divorce is expected to be one of the most expensive in history thanks to mega-mansions, their art collection, and their joint businesses in Russia.

He was married to Irina Malandina for 16 years. They have five children together. When they married in 1991, Abramovich was not yet a billionaire. By the time they divorced in 2007, he was worth more than $18 billion. Malandina walked away with $300 million.

Their divorce could be one of the most expensive splits in history, thanks to their joint businesses in Russia, an extensive art collection, a mega-mansion on the Upper East Side, and other shared assets.

Abramovich's first marriage was to Olga Yurevna Lysova. They were married from 1987 to 1990.

In Russia, when you are a powerful oligarch, it is pretty much customary that you get involved in politics. And Abramovich is no exception. He was the governor of Chuktoka from 2000 to 2008 and during his tenure, is has been estimated that he spent over $250 million of his own money on improvement projects for the region. Under Abramovich, living standards improved, schools and housing were restored, and new businesses opened due to investors being newly drawn to the region.

Abramovich owns homes all over the world, including a nearly $120 million home on London's "Billionaires Row" in Kensington Palace Gardens.

In New York City, Abramovich is planning to combine three historic townhouses on East 75th Street on the Upper East Side into one 31,500 square foot home. He began buying the townhouses on 75th Street between Fifth Avenue and Madison Avenue in 2014. It is thought that the cost of renovating the townhomes could reach $100 million. Abramovich has already paid a combined $90 million for the structures. In September, Abramovich transferred the deeds to the properties at 9, 11, and 13 East 75th Street to his ex-wife Dasha Zhukova for $74 million. A fourth townhouse at 15 East 75th Street was also transferred to Zhukova for $16.5 million. That townhouse was originally slated to be a part of the renovation for the mega mansion but is no longer a part of the plan. The transfer of the properties is thought to be due to pending sanctions against him by the U.S. Government.

In May 2018, Abramovich was granted Israeli citizenship and may be planning to move to Tel Aviv. He had sought U.K. citizenship originally, but was turned down by that country.

Abramovich also owns a luxury home on the French Riviera. He bought Chateau de la Croe in 2001. The estate overlooks the Mediterranean Sea.  He spent $40 million renovating the home. He also has a $90 million estate on St. Bart's in the Caribbean.

Abramovich has reportedly spent hundreds of millions of dollars on yachts in his lifetime. He bought the Pelorus in 2004, when it was the 11th largest yacht in the world. Abramovich's ex-wife Malandina acquired the yacht in the divorce, and later sold it to American business magnate and film producer David Geffen for US $300 million. Abramovich later spent nearly US $500 million on a mega yacht called Eclipse. At 533 feet long, the Eclipse requires a staff  of 70 to operate it and cater to guests. Abramovich has reportedly owned at least three other yachts in his lifetime.

Abramovich also has a heck of a car collection. He owns more than $11 million of luxury vehicles, including the Ferrari FXX. The FXX can reach speeds of more than 190mph. Only 29 of these cars were produced. He also owns one of the 15 Pagani Zonda Roadsters, A Bugatti Veyron, and a Mercedes-Benz AMG GT3.

Abramovich, like any self respecting billionaire, does not fly commercial. He has a fleet of airplanes, including a Boeing 767-33AER with a customized interior that includes a banquet hall that seats up to 30 people, a kitchen, bedroom, and office.

Suffice it to say, it isn't bad being a billionaire oligarch!

Read more: The Extravagant Ways Billionaire Oligarch Roman Abramovich Spends His Money

Bill Gates Wants To Save $233 Billion A Year Through Toilet Research

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Bill Gates became one of the richest people in history through his work with computers, but now he's continuing to explore an even more important part of the daily lives in most households: The toilet. Bloomberg reports that Gates recently spoke at the "Reinvented Toilet Expo" to talk about innovations he's investing in that he thinks can save some $233 billion a year. And he wasn't shy about what he sees as the future of toilet innovation:

"The technologies you'll see here are the most significant advances in sanitation in nearly 200 years."

Through the Bill & Melinda Gates Foundation, Gates has invested over $200 million in research into sanitation. It may sound funny, but Gates' goals towards innovation in toilets have important implications, not just in financial savings, but in the health of millions of human beings who live in areas lacking enough clean drinking water or proper sanitation and hygiene. Gates said that the technology that can effectively sterilize human waste wouldn't just save $233 billion a year in medical costs, but would also help prevent nearly 500,000 infant fatalities linked to cholera and other ailments, all linked to poor sanitation and unclean water.

One of those innovations comes from the California Institute of Technology, which recently developed a system involving "an electrochemical reactor to break down water and human waste into fertilizer and hydrogen, which can be stored in hydrogen fuel cells as energy," a process that Gates describes as "super interesting" and that could represent a much needed clean energy breakthrough for the planet as well.

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Treatment of water is an increasingly important field, as more and more people live in cities or other areas with overburdened and/or inadequate treatment facilities. Guy Hutton is a senior adviser for water, sanitation and hygiene with Unicef, and he explains in a recent interview that the breakthroughs in the field is also economically advisable:

"Human waste that is properly handled can be a very economically attractive investment due to the health benefits …  Given the unmet need of 2.3 billion people still without basic sanitation, there is a potentially very substantial market and economic gain to be had."

In his remarks at the conference, Gates said that he first became interested in sanitation about ten years ago following his retirement from Microsoft. And if that seems surprising to you, he is in agreement:

"I never imagined that I'd know so much about poop … And I definitely never thought that Melinda would have to tell me to stop talking about toilets and fecal sludge at the dinner table."

Read more: Bill Gates Wants To Save $233 Billion A Year Through Toilet Research

Billionaire's Dying Wish Was To Find A Cure For Alzheimer's And Other Brain Diseases

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Richard Rainwater was a billionaire and a legendary investor who had his hands in everything from entertainment to real estate to health care. In 2009, he was diagnosed with progressive supranuclear palsy (PSP), a rare brain disease that affects three to six people out of 100,000. PSP has no cure. When Rainwater received his diagnosis, he worked quickly to set up the Rainwater Charitable Foundation and fund the Tau Consortium, a group of scientists and researchers looking for cures for PSP and other neurodegenerative diseases.

Rainwater died in the fall of 2015, but before he did, he established three prizes for research into degenerative brain diseases. The Rainwater Breakthrough Prize awards prizes in increments of $2 million, $4 million, and $10 million to find treatments for PSP that are FDA approved. The Rainwater Milestone Prize for Advances in Tauopathy Research, awards $2 million to a researcher or group that makes a significant breakthrough in the research of tau related diseases. The third prize is a $250,000 annual award for significant contributions to understanding tau related, neurodegenerative diseases.

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Rainwater's 46-year-old son Todd is the chairman of the board of trustees at the Rainwater Charitable Foundation. He said:

"My dad approached taking on neurological research in the same way that he approached investing: He did his research."

Former U.S. surgeon general Richard Carmona will be the chairman of the prize program. He and Rainwater were friends for decades before his death.

"This was an opportunity to be able to create a legacy that he would be proud of. Even with all of his wealth and all of ability to reach to the farthest parts of the world for the smartest people who are dealing in this, it didn't help him, but he never forgot that there would be other people following behind him."

PSP is a result of the buildup of tau protein deposits in the brain's nerve cells. This causes the cells to malfunction and die. The disease affects a person's vision, their gait and balance, speech, swallowing, and thinking. CTE, the disease that affects so many athletes is another neurodegenerative disease that is a result of the buildup of tau proteins.

Rainwater has already donated $100 million to help fund eight different potential treatments into human trials as well as two dozen more in earlier stages at the Tau Consortium.

Rainwater attended the University of Texas for undergrad and got his MBA at Stanford. He went to work for the Bass family of Fort Worth. Sid Bass, Rainwater's Stanford classmate, hired him to manage the family's money in 1970, when Rainwater was 26. In 16 years the two men turned the Basses' $50 million oil fortune into about $5 billion, mostly through spectacular investments in public companies. Their flagship deal was Disney. Their $478 million investment in the floundering company in 1984 became billions after they used their leverage to install new management. Rainwater had done his due diligence, seeking advice on the entertainment business from Star Wars director George Lucas, among others. So, he was ready when Michael Eisner, former studio chief at Paramount Pictures, called to pitch himself for the top job, preaching the virtues of picking someone from the creative side. When Rainwater died in 2015, he had a net worth of $2.8 billion.

Read more: Billionaire's Dying Wish Was To Find A Cure For Alzheimer's And Other Brain Diseases

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