By Nikita Stewart New York Times David Gelles Fri., Jan. 25, 2019 NEW YORK—In Manhattan, where multimillion-dollar real estate sales are downright routine, a hedge fund tycoon has managed to set a new standard for conspicuous consumption by paying a fortune for an unfinished piece of property in the sky. The billionaire, Kenneth C. Griffin, spent $238 million for a penthouse at 220 Central Park South that is still under construction, making it the most expensive residential sale in U.S. history. What’s more, in a New York tale that is not entirely uncommon, the 79-storey building where Griffin’s penthouse will soon exist was built after the landlord evicted dozens of middle-class tenants from their rent-stabilized apartments in what was a fairly modest building with 20 floors. Cathy Marshall, a tenant in the old building, lived there for 36 years in a rear apartment on the eighth floor. Although she missed out on the scenic views, she … [Read more...] about The $238-million, most-expensive home sale in U.S. history
By Simon Clark WSJ Wed., Jan. 23, 2019 Bono and TPG are teaming up to try to prove that investments meant to benefit society at large do what they purport to do. The U2 frontman and his business partners at the U.S. private-equity firm announced a new company called Y Analytics, which will use a method they developed to measure social and environmental change created by investments. It’s the latest effort in a race with dozens of participants to measure so-called impact investing, a new asset class private-equity firms are developing to try to produce social and environmental change as well as profit. Y Analytics grew out of Rise, a $2 billion investment fund TPG and Bono co-founded. “Math is music here,” Bono said in an interview. “If capitalism is to be a force for good we have to be able to measure when it’s doing good and when it’s doing harm,” he said. “Fuzzy thinking just won’t cut it. We need cold hard … [Read more...] about U2’s Bono and TPG Launch Company to Measure ‘Impact Investments’
By Jennifer Wells Business Columnist Tues., Jan. 22, 2019 “I think Davos should end … It is a family reunion for the people who, in my view, broke the modern world. It is a family reunion of the people who monopolize the future, who designed a world that would only work for them.” Davos hasn’t ended yet: we will continue to be dragged into the big thoughts emanating from the World Economic Forum through the coming days. But Anand Giridharadas captured our attention last week in conversation with CNN’s Christiane Amanpour, a sharp set up to what has become a tired, out-dated and oftentimes embarrassing snowy retreat for the world’s powerful, one that this year is cast against the gathering gloom of a slowing global economy. I featured Giridharadas’s work in a column last October, examining his latest book, Winners Take All: The Elite Charade of Changing the World, which has just now been released in the U.K. and … [Read more...] about Big thoughts, little results: time to scrap the Davos charade
If you’re a founder or aspiring entrepreneur, perhaps you’re looking to round out your reading list for 2019 with a few inspiring business reads. We asked entrepreneurs to offer their book recommendations for the new year, including both recent releases and older favorites. A number of CEOs lauded the first book on this list–one you might have already picked up over the holidays–but keep reading for other titles you may have overlooked. Becoming by Michelle Obama Everyone has a journey on the road to success, paved with triumphs and disappointments that are often invisible to the outside world. It’s a gift to read Mrs. Obama’s authentic and candid story that reflects the experience of so many of us. –Lisa Skeete Tatum, CEO of career management startup Landit Daniel Kahneman, the author, is a nobel laureate and psychologist who has dedicated most of his career to understanding the mechanisms for decision-making. This book is an exploration of … [Read more...] about 12 books that CEOs think you should read in 2019
Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | I’ll Do Evil and I’ll Get Rich. You Can Have a Share. Supported by Essay ByJohn Schwartz Jan. 11, 2019 Let’s make the future great again. Do you remember when the future was great? I do. Technology was going to fix our problems, changing the way we all live, work and play. That kind of utopian patter was big at the beginning of my career, when the hot new app was … fire. Over time, technologies changed but the overblown promises stayed. The internet was going to give us access to the best of the world’s information. Music services like Napster would be an infinite jukebox, and all free! Social media would connect us with our friends and families (and their pets, and vacation snapshots) and usher in new waves of democracy around the world! Google even started out with a … [Read more...] about I’ll Do Evil and I’ll Get Rich. You Can Have a Share.