Meet the latest billionaire bachelor—and he’s going to own lots of London


Here is the latest Money News from CNBC.

Meet the latest billionaire bachelor—and he’s going to own lots of London
The untimely death of the sixth Duke of Westminster, aged 64, has shot his son and heir, 25-year-old Hugh Grosvenor, up the rankings.

The best 5 colleges to attend if you want to be a billionaire
According to Wealth-X, these universities produce the most billionaires.

Clinton: Trump will only give tax cuts to ‘people like himself’
Hillary Clinton ripped into Donald Trump’s economic plan Thursday, contending his proposals would aid the wealthy.

Billionaires are holding $1.7 trillion in cash
The world’s 2,473 billionaires are keeping 22.2 percent of their total net worth in cash, according to Wealth-X.

It will take some minority families 228 years to catch up to whites
The racial wealth gap between families of color and whites continues to widen. Can policy changes help close this chasm?

Tax loophole in Trump’s plan would create windfall for the rich
Donald Trump’s new tax plan includes three big windfalls for the wealthy, the least noticed of which may be the most important.

How not to blow your stock windfall
Some shareholders could make millions in Wal-Mart’s purchase of How to handle a windfall.

Is the classic car market decelerating?
The classic car market is slowing, with collectors focusing on provenance, rarity and condition of automobiles, an expert told CNBC.

Billionaire Richard Branson: I’ve never felt like I’ve ‘made it’
Most people would say Richard Branson has “made it” — except the mogul himself.

A big Wall Street cash cow is slowly getting cooked
One of Wall Street’s biggest businesses is under growing pressure from competitors old and new.

I sold my start-up for $1.6 billion. Here’s what I did next
After selling Blackboard for $1.6 billion Dan Cane tried to retire, but a routine trip to the doctor sparked another blockbuster idea.

A billionaire’s race to harvest the moon’s treasures
Soon the moon will be the “eighth continent,” as private companies such as Moon Express mine its surface for riches.

The battle of the billionaires: Buffett, Cuban and Bloomberg vs. Trump
The race for the White House has turned into a battle between billionaires.

1 winning ticket sold in $487 million Powerball jackpot
Powerball officials say one ticket sold in New Hampshire matches all six numbers in the Powerball drawing worth $487 million.

Bezos passes Buffett, becomes third-richest person: Forbes
Jeff Bezos, the founder of Inc, has become the world’s third-richest person as of the market close for the first time.

Iconic painting of Queen Elizabeth I ‘saved’ for $13.57 million
An historic and iconic portrait of England’s Elizabeth I has been “saved” and put into public ownership for the first time in its history.

What Hillary Clinton got wrong about the rich
Hillary Clinton’s numbers referring to the recent income gains of the rich are wrong — by a wide margin.

Bridgewater fires back at ‘distorted’ New York Times ‘sex and fear’ article
Ray Dalio’s hedge fund responds to a New York Times story that reported a culture of “fear and intimidation.”

George Soros returns to politics with $25 million splash: Report
Billionaire George Soros has re-emerged this election cycle as a major Democratic donor, Politico reports.

At world’s largest hedge fund, sex, fear and video surveillance
Complaint and interviews with ex-employees of the world’s largest hedge fund describe an atmosphere of surveillance that silences those who don’t fit.

Wealthy overseas buyers to face new real estate tax in Vancouver
Vancouver, British Columbia, residents will soon get a larger cut from the real estate shopping spree taking place in the city.

F1 chief Ecclestone’s mother-in-law kidnapped in Brazil: Reports
Mother-in-law of Formula One chief has been kidnapped in Sao Paulo and criminals are demanding $36.5 million in ransom, reports say

The 25 highest-paying jobs in America
Want to earn the big bucks? Here’s where the money’s at.

Nervous millionaires may bail on stocks after election
Nearly half of millionaire investors are considering selling some of their stock holdings, according to a new survey.

Amazon’s Bezos moves past Buffett on world’s richest list
Bloomberg’s billionaire index shows Buffett lost more than $754 million Thursday.

Hamptons real estate sales slump 21 percent
The number of real estate sales in the Hamptons fell 21 percent, adding to evidence that high-end housing is faltering.

A look at whether Donald Trump’s name is really worth $3.3 billion
Donald Trump has estimated his brand to be worth north of $3 billion. That makes him the size of Whole Foods, Chipotle and MTV.

London’s first $200M apartment? Property next to Buckingham Palace for sale
A vast luxury property in London’s Admiralty Arch, overlooking Buckingham Palace, could sell for up to $197 million, say media reports.

Why this trader got mad about a $3.6 million bonus—and quit
Sam Polk walked away from Wall Street to launch a start-up and redefine what success means to him. Turney Duff reviews “For the Love of Money.”

Hedge fund party host fires back at accuser: Party was ‘Good clean fun’
The hedge fund trader who was fired after hosting a controversial party in the Hamptons says the event raised $100,000 for charity.

Billionaire Eli Broad reveals the simple philosophy behind his extraordinary success
Here’s how Eli Broad built two Fortune 500 companies, KB Home and SunAmerica, and became one of America’s richest men.

Another billionaire questions whether US stocks should be at new highs
The U.S. stock market “doesn’t make much sense,” distressed debt specialist Marc Lasry tells CNBC.

Keanu Reeves’ side project: Building $78,000 motorcycles
With his partner Gard Hollinger, Keanu Reeves has redefined the American-made motorcycle with Arch Motorcycle Company.

Wealthy are hoarding cash on fears election will wreak havoc
UBS said its clients are confident about the economy but hesitant to invest because the Nov. 8 election seems so unpredictable.

NYC’s ultra-luxury apartment boom showing signs of struggle

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