Latest news with #BloombergBillionairesIndex
Business Insider
2 hours ago
- Business
- Business Insider
Telegram boss Pavel Durov says all his 100-plus kids will get a slice of his $13.9 billion fortune — eventually
Telegram cofounder and CEO Pavel Durov said all of his 100-plus children will get a slice of his billions — eventually. The boss of the messaging platform told French outlet Le Point that he's the "official father" of six children from three partners, and has more than 100 offspring in 12 countries after donating his sperm. "I make no difference between my children. There are those who were conceived naturally and those who come from my sperm donations," Durov said. "They are all my children and will all have the same rights. I don't want them to tear each other apart after my death." The Russian-born entrepreneur has an estimated net worth of almost $14 billion, per the Bloomberg Billionaires Index. "I wrote my will very recently ... I decided that my children would not have access to my fortune until a period of 30 years has elapsed, starting from today," he told Le Point. "I want them to live like normal people, to build themselves up alone, to learn to trust themselves, to be able to create, not to be dependent on a bank account." Durov explained that he wrote a will despite only being 40 because his work involved risks and he had enemies from within "powerful states." He set up Telegram in 2013 after previously founding the Russian social media network VK. Telegram has about one billion active users globally. Durov was arrested last year after French authorities accused him of being complicit in allowing criminal activity to occur on Telegram. He again denied all the criminal charges laid against him. In an interview with Tucker Carlson earlier this month, Durov said he was still unable to travel freely almost a year after being arrested. Asked about the comparisons with Elon Musk, he told Le Point he was very different to the world's richest person: "Elon runs several companies at once, while I only run one. Elon can be very emotional, while I try to think deeply before acting — but that can also be the source of his strength." Fitness fan Like Durov, Musk also has a number of children. In March Neuralink executive Shivon Zilis said she'd had her fourth child with the Tesla CEO. In response to a comment about his youthful appearance, Durov said his exercise routine involved 300 push-ups in a row, followed by 300 squats. "I don't drink alcohol, coffee, or tea, I don't smoke and I stay away from sugar," Durov added.
India Today
7 hours ago
- Business
- India Today
Telegram CEO Pavel Durov says he will leave his huge $17 billion fortune to his 106 children
Pavel Durov, the billionaire founder and CEO of Telegram, has announced that he plans to divide his entire fortune – estimated at over $17 billion – among his more than 100 children, most of whom were conceived through sperm donation. In an interview with French magazine Le Point, Durov, 40, said he is the biological father of at least 106 children. Six of them were conceived naturally with three different partners, and the remaining 100-plus were born in 12 countries following anonymous sperm donations he began 15 years want to specify that I make no difference between my children: There are those who were conceived naturally and those who come from my sperm donations,' Durov said. 'They are all my children, and will all have the same rights!'According to Bloomberg Billionaires Index and Forbes, Durov's net worth ranges between $13.9 billion and $17.1 billion. This would translate to an inheritance of roughly $131 million to $161 million per child, based on current estimates. However, there is a catch. The children won't have access to their shares until 30 years after the date of the interview – 19 June 2055. Durov explained that this decision is intended to ensure they grow up independently. 'I want them to live like normal people, to build themselves up alone, to learn to trust themselves, to be able to create, not to be dependent on a bank account,' he revealed that he made these plans while preparing his will, prompted by the risks involved in his work. This appears to be a reference to the legal challenges he is currently facing in France. In August 2024, Durov was arrested by French authorities at Bourget Airport near Paris, after flying in from Azerbaijan on his private jet. He is under investigation for alleged complicity in enabling illegal activities through Telegram, including child sexual abuse material, drug trafficking, money laundering, and organised arrest was part of a broader investigation led by France's OFMIN, an agency focused on tackling violence against minors. French magistrates extended his detention for up to 96 hours to allow further questioning. After this period, he must either be charged or released. Despite the serious allegations, Durov has denied any wrongdoing. 'Nothing has ever been proven showing that I am, even for a second, guilty of anything,' he told Le Point. He also stressed his belief in defending privacy, adding: 'Defending freedoms earns you many enemies, including within powerful states.'Telegram has stood firmly behind its CEO. In a statement posted on its social media accounts, the company said: 'Telegram's CEO Pavel Durov has nothing to hide and travels frequently in Europe. It is absurd to claim that a platform or its owner are responsible for abuse of that platform.'advertisementThe company also clarified that it complies with European Union regulations, including the Digital Services Act, and said its content moderation policies meet industry in 2013, Telegram is known for its strong encryption and refusal to share user data – even with authorities. While the platform has attracted nearly a billion users worldwide, its privacy-first stance has also drawn criticism from law enforcement agencies. Durov, however, remains defiant. 'Just because criminals use our messaging service, among many others, doesn't make those who run it criminals,' he told Le Point.
GMA Network
12 hours ago
- Business
- GMA Network
NBA: Walter's deep pockets could fuel Lakers return to glory
LOS ANGELES — Billionaire Mark Walter's purchase of a majority stake in the Los Angeles Lakers, in a deal that values the team at $10 billion, adds another glittering asset to his sports portfolio and could usher in another championship era for the National Basketball League franchise. The Buss family, the longest-tenured owners in the NBA, is entering into an agreement to make the sale to Walter, ESPN reported on Wednesday, in what would be the largest-ever sale of a professional sports team. The Lakers have yet to confirm the deal. Walter, 65, is the CEO of holding company TWG Global and financial services firm Guggenheim Partners, and LA sports fans do not need to look far to see the impact his mighty checkbook can have on a franchise. Walter, along with a group that included Lakers legend Earvin "Magic" Johnson, purchased the Los Angeles Dodgers in 2012 for $2.15 billion in what at the time was an MLB record. Under his ownership, the Dodgers have made 12 straight playoff appearances, won two championships, including last season's World Series and added generational talents Mookie Betts, Freddie Freeman and Shohei Ohtani. 'Ecstatic' Johnson, a Hall of Famer who won five NBA titles with the Lakers, said fans should be "ecstatic" about Iowa native Walter becoming the team's next owner. "A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way," Johnson said in a post on X on Wednesday. The reported $10 billion valuation of the Lakers was eyebrow-raising, especially after their historic rivals the Boston Celtics sold for $6.1 billion in April. But it was not a surprise that Walter would be on the other side of the deal. He has been a stakeholder in the team since 2021. Walter's net worth is estimated at $12.5 billion by the Bloomberg Billionaires Index. Unlike Major League Baseball, the NBA has a salary cap. Still, there are plenty of ways for a deep-pocketed owner to use his money to the team's advantage, from developing players to hiring the best staff. The Lakers have 17 NBA titles, with the latest one coming in 2020. That is second only to the Celtics who have 18, including in 2024. In addition to his ownership of the Dodgers, Walter is also co-owner of the WNBA's Los Angeles Sparks, Premier League side Chelsea FC and, through TWG Motorsports, owns Cadillac Formula One team, which will debut next year. His other financial interests include international women's tennis competition the Billie Jean Cup and the Professional Women's Hockey League, which named its championship trophy the "Walter Cup" after him and his wife Kimbra. Walter's growing footprint in the Los Angeles sports scene comes at a time when the Southern California city is preparing to play a key role in hosting FIFA World Cup matches next summer. Dodger Stadium will host baseball and softball competitions during the Los Angeles Olympics in 2028, while the Lakers' home of Arena in downtown LA will serve as the venue for gymnastics and boxing. — Reuters
Straits Times
14 hours ago
- Business
- Straits Times
Telegram CEO to leave fortune to 100 children he's fathered
Pavel Durov, CEO and co-founder of Telegram messaging app, is worth US$13.9 billion, according to the Bloomberg Billionaires Index. PHOTO: AFP DUBAI – Telegram billionaire founder and chief executive officer Pavel Durov plans to leave his vast fortune to the more than 100 children he's fathered, according to an interview with France's Le Point magazine. Mr Durov, 40, said he's the official father of six children with three different partners. He also started sperm donation fifteen years ago and said more than 100 babies had been conceived that way. He doesn't want his kids to touch his fortune for 30 years. He's worth US$13.9 billion (S$17.9 billion), according to the Bloomberg Billionaires Index. 'I want to specify that I make no difference between my children: there are those who were conceived naturally and those who come from my sperm donations,' he said in the interview with the French magazine. 'They are all my children and will all have the same rights,' he said. The tycoon is known for his sometimes provocative behavior, congratulating his 11.1 million subscribers at Easter with a Telegram post where he appeared with a naked torso. He does 300 push-ups in a row followed by 300 squats every morning, avoiding alcohol, coffee and tea, according to the interview. 'I wrote my will very recently,' he said. 'I decided that my children would not have access to my fortune until a period of thirty years has elapsed, starting from today.' With more than 1 billion active users, Dubai-based Telegram is one of the world's most popular messaging apps. Mr Durov was charged in 2024 by French authorities, who claim he was complicit in allowing crimes to be committed on the Telegram app. He's denied the charges. On June 19, Durov won a ruling that should allow him to travel more freely to Dubai. Starting July 10, the billionaire will be allowed to travel there for stints as long as two weeks, according to an official from France's justice ministry. The non-public decision was first reported by Le Monde. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
14 hours ago
- Business
- The Star
NBA-Walter's deep pockets could fuel Lakers return to glory
Mark Walter, Founder and CEO, TWG Global; Founder and CEO, Guggenheim Partners speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. REUTERS/David Swanson/File Photo LOS ANGELES (Reuters) -Billionaire Mark Walter's purchase of a majority stake in the Los Angeles Lakers, in a deal that values the team at $10 billion, adds another glittering asset to his sports portfolio and could usher in another championship era for the National Basketball League franchise. The Buss family, the longest-tenured owners in the NBA, is entering into an agreement to make the sale to Walter, ESPN reported on Wednesday, in what would be the largest-ever sale of a professional sports team. The Lakers have yet to confirm the deal. Walter, 65, is the CEO of holding company TWG Global and financial services firm Guggenheim Partners, and LA sports fans do not need to look far to see the impact his mighty checkbook can have on a franchise. Walter, along with a group that included Lakers legend Earvin "Magic" Johnson, purchased the Los Angeles Dodgers in 2012 for $2.15 billion in what at the time was an MLB record. Under his ownership, the Dodgers have made 12 straight playoff appearances, won two championships, including last season's World Series and added generational talents Mookie Betts, Freddie Freeman and Shohei Ohtani. 'ECSTATIC' Johnson, a Hall of Famer who won five NBA titles with the Lakers, said fans should be "ecstatic" about Iowa native Walter becoming the team's next owner. "A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way," Johnson said in a post on X on Wednesday. The reported $10 billion valuation of the Lakers was eyebrow-raising, especially after their historic rivals the Boston Celtics sold for $6.1 billion in April. But it was not a surprise that Walter would be on the other side of the deal. He has been a stakeholder in the team since 2021. Walter's net worth is estimated at $12.5 billion by the Bloomberg Billionaires Index. Unlike Major League Baseball, the NBA has a salary cap. Still, there are plenty of ways for a deep-pocketed owner to use his money to the team's advantage, from developing players to hiring the best staff. The Lakers have 17 NBA titles, with the latest one coming in 2020. That is second only to the Celtics who have 18, including in 2024. In addition to his ownership of the Dodgers, Walter is also co-owner of the WNBA's Los Angeles Sparks, Premier League side Chelsea FC and, through TWG Motorsports, owns Cadillac Formula One team, which will debut next year. His other financial interests include international women's tennis competition the Billie Jean Cup and the Professional Women's Hockey League, which named its championship trophy the "Walter Cup" after him and his wife Kimbra. Walter's growing footprint in the Los Angeles sports scene comes at a time when the Southern California city is preparing to play a key role in hosting FIFA World Cup matches next summer. Dodger Stadium will host baseball and softball competitions during the Los Angeles Olympics in 2028, while the Lakers' home of Arena in downtown LA will serve as the venue for gymnastics and boxing. (Reporting by Rory Carroll in Los Angeles; Editing by David Gregorio)
