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Last year, rumors popped up that Australian billionaire Clive Palmer was working on cloning a dinosaur. Whatever happens to those plans, it's clear that Palmer has a taste for recreating the past. The 58-year-old, who made his fortune from natural resources like coal and iron, is now bringing the world's most famous ship back to life. In New York on Tuesday, he unveiled images of Titanic II, a replica of the ocean liner that sunk on its maiden voyage in 1912, claiming 1,502 lives. To offer 21st century cruise-goers the chance to sail on the Titanic, Palmer created the company...

NEW YORK (AP) — What could possibly go wrong? An Australian billionaire is getting ready to build a new version of the Titanic that could set sail in late 2016. Clive Palmer unveiled blueprints for the famously doomed ship's namesake Tuesday at the Intrepid Sea, Air and Space Museum in New York. He said construction is scheduled to start soon in China. Palmer said 40,000 people have expressed interest in tickets for the maiden voyage, taking the original course from Southampton, England, to New York. He said people are inspired by his quest to replicate one of the most famous...

When Thomas Steyer — a San Francisco billionaire and major Democratic donor — discusses climate change, he feels as if one of two things is true: What he’s saying is blindingly obvious, or insane. It’s a somewhat shocking statement for someone who’s in the running to succeed the cerebral Steven Chu as energy secretary. Granted, he’s a long shot — the leading contender is MIT professor Ernest Moniz, who served as the department’s undersecretary during the Clinton administration — but his backers say his strength lies in combining business savvy with an activist’s passion. But it’s not as if Steyer,...

In-N-Out owner Lynsi Torres, is 30-years-old with no college degree and no formal business training. But she has been called the youngest billionaire in America. Lynsi Torres inherited a California icon when she was given half ownership of Baldwin Park native In-N-Out burger when she turned 30 last year. This week, Bloomberg Magazine named Torres the youngest, wealthiest woman in America, given that she will receive full ownership of the estimated $1.1 billion burger empire when she turns 35. Torres inherited the In-N-Out empire from her grandparents, Harry and Esther Snyder who founded the Christian-themed chain in 1948 with their...

Despite earning more than $1 billion in profits last year, social media juggernaut Facebook paid zilch when it came to federal and state taxes in 2012. In fact, the website will actually be getting a refund totaling $429 million thanks to a tax reduction for executive stock options. In the coming years, Facebook will continue to get monster tax breaks, totaling about $3 billion.

<p>On Wednesday, a private yacht sailed slowly and quietly up the Hudson River and docked near midtown Manhattan. This wasn't just any yacht, however. It was Eclipse -- the largest private yacht in the world. And its presence is sure to touch off a frenzy of speculation about its owners and future.</p>

Billionaire investor Warren Buffett is dipping into the ketchup business as part of $23.3 billion deal to buy the Heinz ketchup company. H.J. Heinz Co. says it’s the largest deal ever in the food industry. The company, based in Pittsburgh, also makes Classico spaghetti sauces, Ore-Ida potatoes and Smart Ones frozen meals. Buffett's Berkshire Hathaway and its partner on the deal—3G Capital, the investment firm that bought Burger King in 2010—say Heinz will remain headquartered in Pittsburgh. Heinz CEO William Johnson said in a statement that the company “will have an opportunity to drive further growth” as a private enterprise....

A Double-Double, fries and shake is about as L.A. as it gets. You order that classic combo at any In-N-Out burger and you'll get a fast-food meal that's a favorite of celebrity chefs like Gordon Ramsey and Anthony Bourdain. Sure, it's small as far as chains go with fewer than 300 location in just five states, but the private Irvine-based company has a devoted following, and it's estimated to be worth more than $1 billion. "It is an extreme oddity considering they started in 1948, about the same time as McDonald's, Jack In The Box, Carl's Jr., all of which...

Gates: Software billionaire Bill Gates, who previously has advocated the reduction of the human population through the use of vaccines, and his wife Melinda marked the 100th year since the First International Eugenics Congress in London with a “family planning” summit with abortionists and the United Nations. The July 11 event, co-hosted by the United Kingdom Department for International Development, included organizations such as Planned Parenthood, Marie Stopes International and the U.N. Populations Fund, as well as the Bill and Melinda Gates Foundation. Critics pointed out the summit was held 100 years after the July 1912 eugenics conference led by...

An effort by a Livingston billionaire to hand out free $100 gift cards to Jersey City residents affected by Hurricane Sandy turned into a fiasco last week after some residents who spent hours on line say they were later not able to obtain the gift cards. The effort led to long lines at some community groups last Monday night as people sought to register for the cards and long lines again two days later when residents showed up to pick them up, according to residents, community leaders and organizers of the charity effort. Two City Councilwoman blasted the effort at...

SAN FRANCISCO – Facebook CEO Mark Zuckerberg said he is donating nearly $500 million in stock to a Silicon Valley charity with the aim of funding health and education issues. Zuckerberg donated 18 million Facebook shares, valued at $498.8 million based on their Tuesday closing price. The beneficiary is the Silicon Valley Community Foundation, a nonprofit that works with donors to allocate their gifts. This is Zuckerberg's largest donation to date. He pledged $100 million in Facebook stock to Newark, N.J., public schools in 2010, before his company went public earlier this year. Later in 2010, he joined Giving Pledge,...

Can we stop pretending that Barack Obama’s candidacy is some grass-roots uprising? Obama’s campaign has outspent Romney’s campaign. The Democratic National Committee has outspent the Republican National Committee. While Romney’s SuperPAC (Restore our Future), has outspent Obama’s SuperPAC (Priorities USA), that $40 million Romney SuperPAC edge doesn’t come close to making up for the Obama campaign’s $180 million edge. There is legally undisclosed spending going on here, and there’s reason to believe Romney benefits from more of it than Obama, but that’s not conclusive, and we don’t know how big Romney’s edge is in that category. Obama argues that his...

Wal-Mart Chairman Gives $1M To Obama Super PAC; Bundlers Moonlight As Super PAC Donors By Luke Rosiak October 20, 2012 The super PAC backing President Obama raised $15 million last month, including $1 million from Sam Walton, the chairman of Wal-Mart, a traditional Republican-leaning organization. Also contributing $1 million to Priorities USA was filmmaker Steven Spielberg, whose colleague Jeffrey Katzenberg is an Obama bundler and gave $1 million himself. Fred Eychaner, who has raised at least half a million dollars from acquaintances for the Obama campaign, gave $2 million personally to the super PAC.

Mexican telecom mogul who holds the title of world's richest man, and one of President Obama's top donors are both getting even richer from the U.S. government program that supplies so-called "Obamaphones" to the poor. Carlos Slim, who has an estimated net worth of $70 billion, owns a controlling stake in TracFone, which makes $10 per phone for each device it provides to poor Americans. The company, whose president and CEO is Frederick "F.J." Pollak, also makes money from extra minutes and data plans it sells to subscribers who get phones and service through the government's Lifeline program. The program,...

Like Father, like Son; Jonathan Soros, Son of Billionaire George Soros, Jonathan Soros is the money-bags behind “The Friends of Democracy super PAC.” Soros, Jr. is spending $2 million to $3 million to oust eight House Republicans...

If pirating didn't work out, Capt. Jack Sparrow would perhaps have made a savvy hedge fund manager. A New York hedge fund boss is being dubbed a real pirate of the Caribbean after seizing the flagship of the Argentinian navy in an attempt to settle some of the country's huge debt. Billionaire Paul Singer took control of the tall ship the A.R.A. Libertad with a court order in Ghana this week. The triple-mast frigate, which stopped in the African country as it trained naval cadets, is valued at $10 million and is the ceremonial flagship of the Argentine fleet. The...

Who is the most famous hunter in America? If you’re over 30, the first names that come to mind are probably Sarah Palin, Ted Nugent or Dick Cheney. If you’re under 30, the answer is easier. The most famous hunter in America is Mark Zuckerberg, the billionaire founder of Facebook. In May 2011 Mr. Zuckerberg made a pledge to consume, for one year, only meat he had hunted or slaughtered himself. He got a hunting license and shot a bison. “My personal challenge,” he explained, is “being thankful for the food I have to eat.” If four new books are...

CNBC is reporting that Steve Wozniak, who founded Apple with Steve Jobs in 1976, is seeking to become an Australian citizen. Wozniak, who is currently in Australia promoting the launch of the new iPhone 5, spoke with Australian media and expressed his love for the country, and for the Australian government’s plans to launch its National Broadband Network (NBN). This lead many news outlets to incorrectly report that Wozniak’s motivations for emigrating were purely because of the NBN. Wozniak mentioned that he would keep his U.S. citizenship, but said, “I intend to call myself an Australian and feel Australian.” Unfortunately,...

George Soros Totally Bailed On Democrats This Election Walter HickeySeptember 25, 2012World Economic Forum, Flickr George Soros has been the primary political bogeyman for more extreme wings of the Republican party for some time now. The fascination first began in 2004 when Soros pledged $25.5 million to groups dedicated to removing then-President George W. Bush from office, including MoveOn.org, America Coming Together, and the Center for American Progress. Those efforts obviously failed, but they also cemented the billionaire hedge fund manager in the conservative psyche as the man bankrolling liberal causes. Rumors abound about his true motivations, and have spawned...

In late March 2008, on a local New York City show called “Inside City Hall,” the venerable African-American entrepreneur and politico, Percy Sutton, told host Dominic Carter how he was asked to help smooth Barack Obama’s admission into Harvard Law School 20 years earlier. The octogenarian Sutton calmly and lucidly explained that he had been “introduced to [Obama] by a friend.” The friend’s name was Dr. Khalid al-Mansour, and the introduction had taken place about 20 years prior. Sutton described al-Mansour as “the principal adviser to one of the world’s richest men.” The billionaire in question was Saudi prince Al-Waleed...