Word: ziff
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...their wounds this year. Last week, Tontine Partners, a formerly $10 billion hedge fund based in Greenwich, Conn., told investors it had lost 65% of their money. Tontine's manager, Jeffrey Gendell, made Forbes' list of richest Americans in 2008 with an estimated net worth of $1 billion. Och-Ziff Capital Management Group, which became one of the first hedge-fund companies to go public last November, recently reported that its Asia fund had fallen nearly 17% for the year. Even the fund of David Einhorn, who was one of the first to publicly say that Lehman Brothers could fail...
DIED.William Ziff, 76, who took over his family's tiny publishing company at age 23 and built it into the $700 million Ziff-Davis magazine empire, specializing in hit niche periodicals like Car and Driver, Flying,Yachting and PC Magazine; in Pawling...
...Technology Ventures, the San Jose partnership that has become the heart of his Internet empire. And so the shopping spree began, as Softbank scooped up the trade-show group that organizes Comdex, the computer industry's biggest convention, and Kingston Technology, a memory-board maker. Son bought all of Ziff-Davis Publishing and its television and Internet assets for $3.2 billion, a price considered at the time a few degrees north of insane...
Softbank's rivals can take some solace in knowing that Son's mistakes have been spectacular. He wasted billions of dollars on Ziff-Davis, which he is trying to sell off piece by piece. He sold Kingston at a loss, and some of his start-ups, as start-ups are wont to do, went south. Son would say these failures are the price of admission. If you don't play...
Brother Dirk Ziff, a musician who played guitar in Carly Simon's band and is active in the fund, also happened to be one of the largest--if not the largest--single contributors to the Democratic Party and President Clinton's re-election campaign in 1996. Ziff, one of those invited to sleep over in the White House, gave $410,000 to the Democrats...