This morning, Forbes made a big announcement. Tech darling Elizabeth Holmes—the founder of the disgraced blood-testing firm Theranos—is no longer a multi-billionaire. Instead, Forbes estimates, she’s now worth “nothing.” This is a delicious scoop of schadenfreude, but it’s one that nonetheless obscures that Holmes was always actually worth, to use Forbes’ term, nothing.
Facing down a $5 million judgment for posting a sex tape of Rick Ross’s baby mama, 50 Cent has declared bankruptcy to prove he can’t pay. It’s somewhat convenient that, after Forbes named him one of the richest rappers in the world just a few months ago, 50 claims his reported $155 million fortune is really just $4.375 million. He said this week that he rented cars and borrowed jewelry to keep up appearances.
A wealthy amusement-ride magnate and his partner returned home to their stately manse outside Orlando Wednesday night and were robbed by a trio of men who invaded the house dressed as ninjas.
In January, 30-year-old Emily Leach won $1,000,000 on a scratch-off ticket she bought at a California Liquor & Tobacco store. She used the money to pay off medical bills she had incurred while receiving treatment for a pancreatic tumor. She bought her mom a dog. She exhibited the kind of exorbitant generosity normally reserved for cartoon billionaires and Mitt Romney, by handing out $100 bills to strangers.
The state of New Jersey instituted a "millionaire's tax" (those making over $500K had their state tax rate raised to 9% from about 6.5%) in 2004, because its multimillionaire governor at the time was a socialist who hates success. Now, a new study has documented the devastating effect that this penurious and unfair tax scheme had on the state, as all the millionaires packed up and fled for friendlier locales:
This one isn't brand new, but the current economic turmoil means it's a good time to watch the trailer for August, the upcoming Josh Hartnett flick dramatizing the dramatic dot-com world of August, 2001-a dramatic time. Josh Hartnett is sitting in board rooms! Delivering speeches! Furrowing his brow! And sexing a sexy woman or three in the process! Enjoy the sight of Web boom 1.0, just as Web boom 2.0 may be going over a cliff with the rest of the economy. Side note: Hartnett, who also portrayed a web guy in 40 Days and 40 Nights, is set to corner the market on playing dotcom heroes. Luckily he bears a passing resemblance to Nick Denton! Watch the trailer below and comment freely.