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Sports Team Ownership Not All Glamour

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Sports clubs represent the ultimate asset trophy, but if they don't field a good team or dare to move to another city, they can be vilified by millions.

Jade Prices Soar In Asia Buying Frenzy

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At a Christie’s auction in May, a jadeite ring sold for about $2.6 million—or five times its estimated price.

Israeli Billionaire Makes Huge Donation To Tate Museum

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Israeli shipping billionaire Eyal Ofer has donated $15.2 million to the Tate Modern of London, helping to fund the biggest expansion in the museum’s 13-year history.

Steinway To Be Bought By Kohlberg For $438 Million

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Steinway Musical Instruments Inc., owner of the 160-year-old piano maker, agreed to be bought by private-equity firm Kohlberg & Co. for about $438 million.

Hedge Fund Nomad Turns Art Dealer, Opens Gallery In London

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Born in Pakistan, Kashya Hildebrand spent 19 years working on Wall Street before starting anew as an art dealer in Geneva...

Ticket Master Schulenberg Becomes New Billionaire In Germany

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Selling tickets to Depeche Mode concerts and the 2014 Winter Olympics in Sochi, Russia, has made Klaus-Peter Schulenberg a billionaire.

Swiss Magnate Builds Twombly, Picasso Collection, Gives It Away

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Zurich art collector Hubert Looser has devoted himself to charities ranging from combatting child poverty in Cambodia to fighting AIDS in Zimbabwe.

Spacey’s Patron Bank Of America Helps Restore Picasso, Courbet

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Twenty-four recipients in 16 countries—including Rembrandt’s “Scholar in his Study” (1634) and Courbet’s "The Painter’s Studio"—will get cash from Bank of America’s Art Conservation...

Picasso, Magritte Lead $2 Billion Art Fair

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Collectors such as Roman Abramovich are flying to the Swiss city of Basel to inspect $2 billion of works at the world’s biggest modern and contemporary art fair.

Goldman Loan To Ex-Trader Cader Backed By 15,000 Wines

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Goldman Sachs Group Inc. accepted almost 15,000 bottles of fine wine as loan collateral from a former high-ranking executive, according to a regulatory filing last month.

Opinion: Koch's Chilling Effect On Public Television

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David Koch has shown us that billionaires can use their money and power to influence what gets shown, or not, on public television.

Geffen's Art Collection Tops In Value

by PW Staff

The most expensive private art collection in the world belongs to billionaire David Lawrence Geffen, the founder of DreamWorks Animation, according to a new survey.

Bison-Loving Billionaires Rile Ranchers With Western Land Grab

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A non-profit group that has the backing of some of the world's richest financiers is trying to build an American Serengeti in Montana, where the deer and the antelope can again play free.

Cucinelli Becomes Billionaire Knitting $1,920 Cardigans

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Brunello Cucinelli, the 59-year-old founder of the luxury fashion house that bears his name, has become a billionaire.

Values Hit High Note

by Michael S. Fischer

Rare violin values are at all-time highs, eliciting joy among investors and chagrin for violinists who can no longer afford the best instruments.

Rich People Are More Intelligent, Study Says

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A new study by a Duke University researcher concludes that there's a link between wealth level and intelligence.

Christie’s Family Pinault Gives China $40 Million Bronzes

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French billionaire Francois Pinault’s family has donated to the Chinese nation two bronze animal heads that were the subject of a $40 million disputed sale at Christie’s International in 2009.

Steinhardt’s Judaica May Bring $11 Million At Sotheby’s

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The collection of Judaica assembled over the past three decade by philanthropist and former hedge-fund manager Michael Steinhardt and his wife, Judy, is heading to the auction block next week in New...

Elite Art Dealer Among 34 Arrested In Gambling Sting

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A Manhattan art gallery owner and a reputed Russian crime boss are among 34 people charged with operating two overlapping high-stakes gambling rings that catered to celebrities and the very wealthy.

Billionaire Koch Wins $12 Million Wine Trial Punitive Award

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Billionaire William Koch, after winning a $379,000 verdict against a consigner who sold him 24 counterfeit bottles of wine from France’s Bordeaux region, was awarded $12 million in punitive damages...

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