WASHINGTON — Michael Bloomberg, the billionaire former mayor of New York City, is opening the door to a 2020 Democratic presidential campaign, signaling his dissatisfaction with the current crop of candidates vying to take on President Donald Trump. Bloomberg has not made a final decision on whether to run, according...
'Just Too Much': Meet the Uber-Rich Who Want a Wealth Tax
WASHINGTON — When the grand vacation homes of Newport Beach were empty on a beautiful Memorial Day weekend, Molly Munger decided it was time for the U.S. to consider taxing wealth. As her family's boat moved through the harbor a few years ago, Munger, whose father is a billionaire investor,...
Billionaire Tom Steyer Raises $2 Million for White House Run
WASHINGTON — Democratic presidential hopeful Tom Steyer has raised $2 million for his presidential campaign over the past three months. The California billionaire said Thursday that he collected an average contribution of about $12 from 166,000 donors without holding any fundraisers. Steyer is set to appear at next week's debate...
Dueling Wealth Tax Plans Mean Sanders-Warren Clash May Come
WASHINGTON — Bernie Sanders announced on Tuesday a plan to tax the nation's wealthiest households, saying it will generate more than $4 trillion over the next decade and substantially reduce billionaires' fortunes — his version of Democratic presidential rival Elizabeth Warren's signature proposal. Sanders, a senator from Vermont, and Warren, a senator...
Billionaire Conservative Donor David Koch Dies at Age 79
WASHINGTON — Billionaire industrialist David H. Koch, who with his older brother, Charles, transformed American politics by pouring their riches into conservative causes, has died at age 79. Charles Koch announced the death on Friday, saying, "It is with a heavy heart that I now must inform you of David's...
Colorful Billionaire H. Ross Perot Dead at 89
DALLAS — H. Ross Perot, the colorful, self-made Texas billionaire who rose from a childhood of Depression-era poverty and twice ran for president as a third-party candidate, has died. He was 89. Perot, whose 19% of the vote in 1992 stands among the best showings by an independent candidate in...
San Francisco Billionaire Gives $30M to Study Homelessness
SAN FRANCISCO — A San Francisco billionaire is donating $30 million to the University of California, San Francisco, to research root causes of homelessness and potential solutions. Salesforce CEO Marc Benioff, a city native, has embraced homelessness as a philanthropic cause, pumping millions into a 2018 city measure to tax...
Elon Musk Firm Pitched to Build Transit System in Las Vegas
LAS VEGAS — Entrepreneur Elon Musk's dream of an express tunnel transit system could finally become a reality in Las Vegas after major setbacks in other cities. Las Vegas' tourism agency announced Wednesday it is recommending that an enterprise backed by the divisive billionaire receive a contract to build and...
Forbes Names Kylie Jenner Youngest Self-Made Billionaire
NEW YORK — Move over Mark Zuckerberg. At 21, Kylie Jenner has been named the youngest-ever, self-made billionaire by Forbes magazine. Forbes estimated that Jenner's Kylie Cosmetics is worth at least $900 million, and she owns it all. She hits the billion-dollar mark when you add in cash she has...
Vegas Prosecutors Say Tech Billionaire Facing Drug Charges
LAS VEGAS — A billionaire California tech mogul who funds "Marsy's Law" crime victim rights campaigns nationwide was hit Wednesday with felony drug charges following his arrest last summer in a Las Vegas hotel suite with what police said were briefcases full of drugs. Broadcom Corp. co-founder Henry T. Nicholas...