Word: tycooning
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...accounts, 36.8 million of the 51.6 million PPR shares owned by Artémis were pledged to banks at the end of last year. A significant cause of these woes dates back to September 2001, when Pinault won a ferocious two-year fight with another French tycoon, Bernard Arnault, for control of the Italian fashion firm Gucci. Victory seemed sweet, but it carried a $7 billion price tag. The timing could not have been worse. The day after the deal was signed, al-Qaeda slammed planes into Manhattan's World Trade Center, crushing the already fragile economy. With hindsight...
Epstein’s relationships within the academy are remarkable since the tycoon, who has amassed his fortune by managing the wealth of billionaires from his private Caribbean island, does not hold a bachelor’s degree...
...names sniffing around Vivendi's entertainment assets include Liberty Media's John Malone, General Electric's NBC, Viacom, MGM, and oil tycoon and former Fox owner Marvin Davis. USA Interactive head Barry Diller's blocking rights and ownership stake add to the intrigue. Vivendi last fall rejected as too low Davis' reported offer of $15 billion plus $5 billion in debt assumption, but Davis hasn't given up. Malone's dealmaking prowess and close ties with Diller give him an edge...
...CHARGED. JAMES HENRY TING, 52, former chairman of the Akai consumer electronics company; with falsifying the accounts of Akai to the tune of more than $38 million; in Hong Kong. The Shanghai-born tycoon disappeared in late 2000 after the company racked up debts of more than $1 billion. He was arrested after returning to Hong Kong by helicopter from Macau. Akai, which was a 70-year-old Japanese electronics giant before Ting took it over, has been dubbed "Hong Kong's Enron...
DIED. J. PAUL GETTY JR., 70, reclusive philanthropist and one of five sons of oil tycoon J. Paul Getty, in his day considered the richest man in the world; after being treated for a chest infection; in London. Though American-born, Getty loved and primarily patronized Britain, officially changing his citizenship in 1997. Known in his youth as a man fond of drugs and parties, Getty withdrew, focusing on art and philanthropy, after two personal tragedies: the loss of his second wife to a drug overdose and the kidnapping for five months of his then 17-year...