High Net Worth Individuals

Billionaire Robert Brockman is competent to stand trial for tax evasion, a federal judge ruled, finding that the Texas automotive-software mogul was exaggerating his symptoms of dementia in an effort to avoid prosecution and a potentially lengthy prison sentence.Mr. Brockman was indicted in October 2020 on charges that he used a web of offshore entities to evade taxes on about $2 billion in income. Prosecutors have called it the biggest tax-fraud case ever brought against an individual in U.S. history. Billionaire …

ST. HELIER, Jersey—Authorities in this offshore financial center in the English Channel are conducting a wide-ranging preliminary probe into Roman Abramovich’s wealth held on the island, including whether a business partner helped the billionaire try to evade U.K. sanctions, according to people familiar with the situation. The probe, which hasn’t been previously reported, is also looking at how Mr. Abramovich acquired oil companies in the 1990s that made…

Nevada gambling regulators approved on Thursday a limited license for MGM Resorts International shareholder Barry Diller to work in the state’s casino industry, after questioning the billionaire about a federal investigation into his purchases of Activision Blizzard Inc. shares.The Nevada Gaming Commission, which enforces anticorruption regulations in the state’s gambling industry, voted 4-1 to approve Mr. Diller for a two-year…

Boutique auctioneer Phillips sold a 16-foot-wide, red-and-peach painting by Jean-Michel Basquiat for $85 million in New York on Wednesday.  Japanese billionaire Yusaku Maezawa put the untitled 1982 painting up for sale, and an Asian telephone bidder represented by a Phillips representative based in Taipei won it after a four-minute competition. The sale didn’t break the $110.5 million record for a Basquiat, held by an untitled blue work from 1982 that Mr.…

Billionaire Gautam Adani is betting that India is on the cusp of a multiyear boom in housing and infrastructure construction, striking an up-to-$10.5 billion deal that will turn his conglomerate into the country’s second-largest cement producer. The businessman’s Adani Group 512599 2.53% plans to buy control of two Indian-listed cement companies from Switzerland-based Holcim Ltd.…

A group led by Los Angeles Dodgers part-owner Todd Boehly reached a deal to acquire Chelsea Football Club from Russian billionaire Roman Abramovich for almost £4.3 billion, equivalent to $5.2 billion, the team said late Friday, marking a record sale price for a professional sports team. The deal’s completion is expected later this month, assuming the deal wins regulator approvals, Chelsea said in a statement. It follows a…

As Elon Musk’s crusade against Twitter Inc. escalated from a war of words to a full-on takeover, he was egged on behind the scenes by a mix of voices—from fellow billionaires to internet trolls—with their own beefs with the social-media platform.In Mr. Musk, a serial entrepreneur with a hard Twitter habit, these men found a vessel for pent-up animosity over the company’s content moderation and management. One of them had a very personal stake: Twitter’s co-founder and former Chief Executive Jack Dorsey, who resigned last…