NEW YOKR: Joseph Tsai, co-founder of Chinese e-commerce giant Alibaba, has made a deal to purchase full control of the NBA's Brooklyn Nets from Russian businessman Mikhail Prokhorov, the club announced Friday (Aug 16).The Nets said Prokhorov has made an agreement with the Taiwanese-Canadian businessman to sell the Barclays Center arena and his 51 per cent controling interest in the Nets.Tsai bought 49 per cent of the Nets last year for US$1 billion, with the chance to purchase more shares before the start of the 2021-2022 campaign.The deal, according to multiple reports, will cost Tsai US$2.35 billion, the highest price ever paid for a US sports team.Tilman Fertitta paid a record US$2.2 billion for the NBA's Houston Rockets in 2017, the same price hedge fund owner David Tepper paid last year to buy the NFL's Carolina Panthers.Tsai has an estimated net worth of US$9.4 billion, according to Forbes magazine.Prokhorov bought the Nets in 2010 and guided their move from New Jersey to … [Read more...] about Alibaba co-founder Tsai will buy full control of NBA Nets
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Kyrie Irving (left) and Kevin Durant of the Brooklyn Nets could have a new NBA boss as reports have Alibaba Group co-founder Joseph Tsai buying complete control of the team. NEW YORK: Joseph Tsai, co-founder of Chinese e-commerce giant Alibaba, is expected to purchase full control of the NBA's Brooklyn Nets from Russian businessman Mikhail Prokhorov, according to multiple reports Thursday.The New York Post, New York Times and ESPN reported a deal is close to completion that would have the Taiwanese-Canadian businessman buy the remaining 51 percent of the club he doesn't currently own. Tsai bought 49 percent of the Nets last year for $1 billion, with the chance to purchase more shares before the 2021-22 campaign began. The deal, according to reports, is expected to be announced this week and cost $2.35 billion, the highest price ever paid for a US sports team if confirmed. Tilman Fertitta paid a record $2.2 billion for the NBA's Houston Rockets in 2017, the same price hedge … [Read more...] about Alibaba co-founder Tsai set to own all of NBA Nets
Vice President Maria Leonor "Leni" Robredo’s net worth rose to P2.31 million in 2018 from P1.1 million in 2017—an increase of P1.2 million due to increases in her personal properties. Based on the vice president’s Statement of Assets, Liabilities and Net Worth (SALN) as of Dec. 31, 2018, the increase in her personal properties was due to an additional P1.18 million in “cash” and P25,000 worth of “prepaid insurance” compared to 2017. The value of her real properties remained unchanged since 2013 at P1.74 million. Her declared liabilities of P11.9 million meanwhile, remained unchanged since 2017. Robredo’s net worth has been growing by an average of six percent annually over the last six years since 2013, when she was the Representative of the 2nd District of Camarines Sur. Her net worth had a sharp decline in 2017, when it decreased to P1.11 million from the P8.88 million she declared in 2016 due to the “partial … [Read more...] about VP Robredo’s net worth rose by P1.2 million in 2018
MULTIMEDIA Infographic by Pamela Ramos, ABS-CBN News Posted at May 27 2019 09:47 PM | Updated as of May 27 2019 09:48 PM Senators Cynthia Villar and Manny Pacquiao are still the two richest members of the Senate, based on their 2018 statements of assets, liabilities and net worth (SALN). Based on their 2018 SALN, Villar put her net worth at P3,719,941,858.00 without any liability, while Pacquiao reported P3,005,808,000.00 net worth but listed the highest liabilities at P146,005,728.00. Here is the list of the net worth declarations made by each of the 24 senators: /news/05/27/19/abu-sayyaf-member-killed-4-others-wounded-in-sulu-clash/business/05/27/19/will-cigarette-smuggling-worsen-with-sin-tax-hike/sports/05/27/19/pba-black-laments-meralcos-lack-of-energy-in-2nd-half-against-ginebra/overseas/05/27/19/over-200-cocaine-bags-found-in-stomach-of-japanese-who-died-on-plane/overseas/05/27/19/malaysias-last-male-sumatran-rhino-dies-in-captivity … [Read more...] about News The net worth of Philippine senators
Multi-billionaire Elon Musk's real net worth, like his personality, is volatile and mercurial.Probably the best known billionaire in the world (and undoubtedly the most covered by the news and social media), Musk and his exact wealth are a matter of speculation because he lives such an un-billionaire type existence.For one, Musk has no guaranteed multimillion dollar annual salary plus stock options and perks from Tesla Inc. Musk has a $56,000 monthly salary from Tesla but hasn't drawn this salary even once. Seems Musk relies on his salaries and perks from his other businesses such as SpaceX, The Boring Company, OpenAI and Neuralink to get by.But here's what we know about Musk's wealth. Forbes estimates his "real time net worth" as of May 15 at $19.5 billion. That's good for Number 40 on Forbes' billionaires list. CNBC places Musk's net worth at about $23.6 billion (no mention of a time frame).And here's why it's tough placing an exact number on Musk's wealth.In January, Tesla announced … [Read more...] about Elon Musk net worth: How much is Tesla, SpaceX CEO worth?