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Serena Williams could cash in on an upcoming tech IPO (FB)

Serena WilliamsGetty Images

Tennis star Serena Williams could see a boon from the initial public offering of the parent company of SurveyMonkey.
Williams serves as a director of the company and owns 210,000 options and another 35,000 shares.
Williams’ options come with a very standard caveat: Each one will cost her $16.03 to buy — so unless SurveyMonkey really explodes out of the gate after its IPO, her potential profit will likely pale in comparison to her winnings from tennis. 
Still, depending how things go, the SurveyMonkey IPO could mean a tidy payday for Williams. 

Serena Williams has racked up some major cash on the tennis circuit  — she’s made over $84 million in winnings in her career.  Now she has a chance to strike it big in a tech IPO.

Williams is among those who could see a windfall from the IPO of SVMK, the parent company of SurveyMonkey. The tennis star serves as a director of the company and holds some 210,000 options and another 35,000 restricted shares in the company. See the rest of the story at Business Insider

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The 25 most generous philanthropists in America today

bill gates melinda gatesJustin Sullivan/Getty Images

The Chronicle of Philanthropy publishes an annual list of the top 50 philanthropists (both individuals and couples) by calculating their yearly donations.
In 2017, America’s wealthiest residents donated $14.7 billion to nonprofit organizations.
About 60% of the total was donated by people who made their fortunes in tech, suggesting America’s philanthropic center is shifting away from Wall Street and towards Silicon Valley, according to The Chronicle.

America’s wealthiest people donated $14.7 billion in 2017 to causes, alma maters, foundations, and charities — more than doubling the amount given away in 2016.

For 18 years, The Chronicle of Philanthropy has published an annual round up of the top-50 philanthropists in America by calculating their yearly donations. In 2017, the individuals and couples on the list donated a median of $97 million, doubling the giving amount from the first list published in 2000. The total donation amount of the 2017 list is the highest amount since the 2008 recession, according to Forbes.

The 2017 list features 11 individuals or couples from the technology industry accounting for $8.7 billion in donations, or about 60% of the total, suggesting America’s philanthropic center is shifting away from Wall Street and towards Silicon Valley, according to The Chronicle.

The top three donors who gave away at least $1 billion each are tech moguls: Michael and Susan Dell, Mark Zuckerberg and Priscilla Chan, and Bill and Melinda Gates

Notably missing from the list is billionaire investor Warren Buffett, who made a multibillion-dollar donation in Berkshire Hathaway stock to the Bill & Melinda Gates Foundation in 2017. But because the “annual installment” was part of Buffett’s initial 2006 pledge to donate more than $36 billion in Berkshire Hathaway shares to the Gates’ organization, the Chronicle did not count it as a 2017 donation.

Below are the top 25 philanthropists who donated more than $97 million each in 2017. Note that four people passed away after the ranking was first published in February — Porter Byrum, David Rockefeller, Florence Irving, and Henry Hillman.

25. Sheryl Sandberg
Greg Sandoval/Business Insider

Source of wealth: Technology

Total amount donated: $97,999,000

Biggest causes: Sheryl Sandberg & David Goldberg Family Fund, LeanIn.org and OptionB.org

Source: Forbes 

 

23. (TIE) Kenneth and Pamela Ricci
YouTube/ND Loyal

Source of wealth: Transportation 

Total amount donated: $100,000,000

Biggest causes: University of Notre Dame

Source: Notre Dame News

23. (TIE) Agnes Gund
Stuart C. Wilson/Getty

Source of wealth: Family wealth (banking)

Total amount donated: $100,000,000

Biggest causes: Art for Justice Fund, criminal justice reform, literacy organizations including Actors’ Gang, the National Book Foundation, PEN America and the Pulitzer Center on Crisis Reporting

Source: Inside Philanthropy 

See the rest of the story at Business Insider

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From a 58-bedroom estate to a helicopter fleet, here’s how the Trump family spends their billions

trump familyBrendan McDermid/Reuters

President Donald Trump‘s net worth is currently estimated to be $3.1 billion, according to Forbes.
Combine that with the individual net worths of the Trump children, and the entire Trump family is worth more than $4 billion.
They spend their money lavishly, from a hefty real estate portfolio and an aviation fleet to designer clothes.

Donald Trump‘s net worth is currently estimated to be $3.1 billion — down an estimated $400 million since he took office in January 2017, reports Forbes.

And that’s not to mention the individual net worths of his adult children — a reported $150 to $300 million for Eric Trump, reported $200 million for Donald Trump Jr., and reported $600,000 for Tiffany Trump, according to Cheat Sheet. Ivanka Trump, who runs her own business, has the largest net worth of all the children, estimated to be up to $762 million with husband Jared Kushner, reports CNN, citing financial documents released by the White House.

Combined, that makes the entire Trump family‘s fortune worth over an estimated $4 billion.

From pricey penthouses and expensive schooling to high-end shopping and a full-on aviation fleet, here’s how they drop their millions and billions.

Donald Trump’s net worth is currently estimated to be $3.1 billion — down an estimated $400 million since he took office in January 2017.
Pool/Getty Images

Source: Forbes

According to his executive branch personnel public financial disclosure report, he earns anywhere from $597,396,914 to $667,811,903 between January 2016 and spring 2017.
Ian MacNicol/Getty Images

His wealth comes from multiple sources, from golf-related and hotel-related revenue (nearly $340,000,000 combined) to Central Park Carousel admissions and ice skating rink revenue (more than $13,000,000 combined).

Source:  Business Insider, Center for Responsible Politics

Before he was elected, Trump spent $66 million of his own money on his presidential campaign, according to campaign finance disclosures examined by Reuters.
Associated Press/Evan Vucci

Source: Fortune

See the rest of the story at Business Insider

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Millennial investors were piling into AT&T in anticipation its big merger with Time Warner would get approved (T)

AT&T Chairman and CEO Randall Stephenson smiles on Capitol Hill in Washington, Wednesday, Dec. 7, 2016, prior to testifying before a Senate Judiciary subcommittee hearing on the proposed merger between AT&T and Time Warner.AP Photo/Evan Vucci

Millennial investors had been buying up AT&T stock, according to data from the free-trading app Robinhood.  
The Department of Justice on Tuesday approved the $85 billion merger between AT&T and Time Warner
Watch AT&T trade in real time here.

Millennial investors were piling into AT&T shares in anticipation the Department of Justice would approve its $85 billion merger with Time Warner

Data from the free-trading app Robinhood, popular amongst millennials, showed 7,278 investors bought AT&T shares using the app over the past week. It is unclear as to what specific days the transactions occurred, so it is possible the bulk of the purchases came after the deal’s approval was announced.See the rest of the story at Business Insider

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Warren Buffett reportedly tried to invest $3 billion in Uber

warren buffettSteve Pope/Getty Images

Warren Buffett was close to investing $3 billion in Uber, Bloomberg News reported Wednesday.
The deal fell apart due to disagreements over the size and terms of the stake. 

Legendary investor Warren Buffett tried to buy a $3 billion stake in Uber earlier this year through his Berkshire Hathaway company, Bloomberg News’ Eric Newcomer and Olivia Zaleski reported Wednesday.

However, the deal fell apart due to disagreements over the size and terms of the potential investment, Bloomberg said, citing people familiar with the discussions. Neither Uber nor Berkshire Hathaway responded to Bloomberg’s request for comment.See the rest of the story at Business Insider

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