Share to Twitter Share to Linkedin Knight Dragon , a London-based property developer owned by Hong Kong’s Henry Cheng , is offering investors a share in the profits of one of Britain’s largest urban renewal projects by using blockchain technology. Knight Dragon announced Tuesday that it plans to issue 100,000 security tokens. The tokens, named KDB4, will entitle their holders to a share of 80% of the gross profits generated from Knight Dragon’s Building 4. The 191-unit tower is part of the Upper Riverside development, an apartment complex within the company’s landmark Greenwich Peninsula project. Knight Dragon estimates that KDB4 will be worth £140 million ($172 million), but it has yet to confirm the tokens’ drop date. Holders of the tokens will also be given priority to invest in, or purchase, future offerings in Greenwich Peninsula. “We have a track record of being business pioneers and the fast-growing blockchain economy offers exciting new … [Read more...] about Billionaire Henry Cheng Ventures Into Web3 With Investment Tokens For London Real Estate
Forbes global properties
Ageless And Peerless In An Era Of Fabless
Share to Twitter Share to Linkedin TSMC's Morris Chang It was 2005, and Morris Chang, at age 74, had earned his retirement: the global economy had bounced back from a postmillennial downturn, and his Taiwan Semiconductor Manufacturing, or TSMC, was back leading a wave of change in the electronics industry. Before the 1980s suppliers of chips for everything from computers to radios mostly spent big sums to design chips themselves and churn them out in their own factories. Chang in the middle of the decade came up with a niche: specialized factory services (also called a "foundry") for companies willing to outsource manufacturing to an unknown Taiwan company. The option erased an enormous financial barrier to entry for engineer entrepreneurs, led to a wave of innovations and lower costs for consumers, and created fortunes for young outfits such as Qualcomm and Broadcom . Older industry giants like Philips and AMD turned to TSMC, too. … [Read more...] about Ageless And Peerless In An Era Of Fabless
They Inherited Billions Upon Billions: Meet America’s Richest Heirs
One of them, Rob Walton, just led a family group to bid $4.65 billion for the Denver Broncos NFL team. Here are the other heirs that rank the highest on Forbes’ list. A shock ran through the sporting world last week when a group led by Walmart heir Rob Walton won the bidding war for the Denver Broncos NFL team with a $4.65 billion offer . The eye-popping sum made the deal the most expensive sports team purchase in history and turned a spotlight on the man at the center of it all: the typically low-profile Walton. The eldest son of Walmart founder Sam Walton, he inherited his fortune and served as Walmart’s chairman for 23 years. Now worth $57.2 billion, he is the 15th richest person in America and the fifth richest U.S. heir. A handful of Rob Walton’s relatives are among America’s richest people as well. Founded in 1962 by Sam and his brother James “Bud” Walton, Walmart, the country’s largest retailer, is still about half owned by members of the family. Seven have … [Read more...] about They Inherited Billions Upon Billions: Meet America’s Richest Heirs
California Couple Gets Mega Rich Off Clif Bars
More than two decades after turning down a $120 million offer from Quaker Oats, Gary Erickson and Kit Crawford, the majority owners of Clif Bar, have agreed to sell the energy bar company to snack giant Mondelez for $2.9 billion. By Jemima McEvoy T wenty-two years ago Gary Erickson and his then-business partner Lisa Thomas faced a difficult choice. Quaker Oats had proposed paying $120 million for their energy bar company, Clif Bar & Co., which was doing an impressive $40 million in annual sales after roughly doubling every year since its launch in 1992. Taking the deal meant its founders could each walk away with a pre-tax $60 million and be freed of the difficulties of building and running a business. Thomas wanted to walk away, but something told Erickson to turn the offer down. It wasn’t the right time. “I was about to become a very rich man … but instead of feeling excited, I felt nauseated,” Erickson wrote in his 2004 book, Raising the Bar: Integrity and … [Read more...] about California Couple Gets Mega Rich Off Clif Bars