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Money & Finance

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Money & Finance last won the day on November 16 2018

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  1. When Microsoft went public in March of 1986, co-founders Bill Gates and Paul Allen, two friends from high school who bonded over their mutual love of computer science, became multi-millionaires. Gates, then 30, remained CEO and rose to prominence as one of the richest people in the U.S. The shares he sold made him $1.6 million, and the 45 percent stake he retained gained a market value of $350 million. The young CEO celebrated his newfound wealth by making a very sensible decision: He paid off his $150,000 mortgage, he told Fortune in 1986. "I bought one thing that was a tiny bit of a splurge," Gates told David Rubenstein during a 2016 Bloomberg interview. "It was used, but it was an incredible car." Gates first purchased a Porsche 911 Turbo in 1979 and rumor has it that he was pulled over quite a few times in the blue sports car. This 911 has since been auctioned off for $80,000. Gates didn't let the car sit around gathering dust: The CEO loved to put its speed to the test in drives around the New Mexico desert, near where Microsoft was headquartered at the time. After one particularly raucous night, he even had to call Allen to bail him out of jail, according to a Time profile from 1997. "Sometimes when I would want to think at night, I would just go out and drive around at high speed," Gates told Rubenstein. "Fortunately, I didn't kill myself doing that." Gates's wealth continued to balloon after Microsoft's IPO and he became a billionaire in 1987 at age 31. At the time, he was the youngest person ever to reach the milestone. And by 1995, his fortune had grown to $12.9 billion, making the then 39-year-old the world's richest man, a title he held for years afterward.
  2. Money & Finance

    How much money you need to be part of the 1% worldwide?

    According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. Credit Suisse defines net worth, or "wealth," as "the value of financial assets plus real assets (principally housing) owned by households, minus their debts." More than 19 million Americans are in the 1 percent worldwide, Credit Suisse reports, far more than from any other country, while "China is now clearly established in second place in the world wealth hierarchy," with 4.2 million citizens among the world's top 1 percent. To be among the top 10 percent worldwide, you don't even need six figures: A net worth of $93,170 will do it. And even if you have just $4,210 to your name, you're still richer than half of the world's residents.
  3. Money & Finance

    My Volt CV Boot is worn and leaking

    When it finally does go one day this is the part I will need to order:
  4. I found a $99 Chromebook last night and I am wondering if I could share it with others if need be?
  5. Money & Finance

    Airbnb Posts a Great Quarter

    Airbnb booked "substantially more" than $1 billion in revenue during the third quarter, the company said yesterday in a memo. That means this fall was Airbnb's strongest quarter since it launched in ‘08. Feels like a few things were missing from that memo, no? All Airbnb disclosed was a loose revenue stat. But according to CNBC's insiders, Airbnb... 1) Is on track to be profitable for a second straight year 2) Reportedly posted $2.6 billion in revenue during 2017 3) Is worth about $31 billion All that without a permanent CFO since February. Not to mention, this marks the first time Airbnb released its revenue...scheduled conveniently ahead of its proposed 2019 IPO. Sound familiar, Uber? + While we're here: In-law guest rooms are being swapped for industrial chic lofts in record numbers this Thanksgiving. Airbnb said it expects one million guests to stay at its U.S. listings during the holiday.
  6. Anyone know how this all turned out after all? just curious.
  7. Money & Finance

    Google is going to drop Android.

    And we never saw this happen Mr. Ryan.....
  8. Money & Finance

    2015 Alphabet Logo

  9. Money & Finance

    Alphabet, Inc.

  10. Money & Finance

    Here's Why Your Local Grocery Store May Be in Danger

    I wonder how Amazon Fresh works with Whole Foods now? Anyone know?
  11. Money & Finance

    Amazon and Pandora set to launch new music streaming services

    Well... this never happened.....
  12. Money & Finance

    Amazon Logo

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