Billionaire Trivia

Author of the forthcoming e-book Billionaire Trivia: Fascinating Facts About America's Wealthiest People. Posting about America's billionaires.

[Rick J. Caruso @RickCarusoLA]

This proposed tax may sound like an easy way to raise revenue, but the real cost will be paid by hardworking Angelenos. Thousands of jobs could be put at risk as clubs are forced to cut back or shut down altogether. These are the kinds of jobs that help people get their foot in the door and build a future. Los Angeles cannot keep sending the message that the answer to every problem is another tax. We need to manage our city better, protect jobs, and create more opportunity—not make it harder for people to work and succeed.

[Daniel S. Loeb @DanielSLoeb1]

In 1989~1991, I traveled the country putting deposits in mutually held S&Ls. At the time my net worth was under $10,000. I put the better part of my life savings in passbook accounts and CDs in the expectation that they would one day go public and that I would have the capital to participate in the IPOs which usually allow for investments of $250k-500k
A number of them went public during my days at Jefferies working for @HandlerRich in ‘91-‘94 allowing me to make enough (along with some generous bonuses from my employer) for my grub stake which funded the GP capital to launch Third Point on June 1, 1995. 35 + years later I have maintained all the accounts and periodically participate in the offerings to this day.

[Daniel S. Loeb @DanielSLoeb1]

Bernie the Capo proudly stands with a supporter of terrorists. He should be checked for dementia.

[John Arnold @johnarnold]

Texas celebrates every time CA raises taxes
'17 Toyota: LA -> Dallas
'19 McKesson: SF -> Dallas
'20 Oracle: SF -> Austin
'20 CBRE: LA -> Dallas
'21 Schwab: SF -> Austin
'21 Tesla: SF -> Austin
'22 HPE: San Jose -> Houston
'24 Chevron: SF -> Houston
'26 Public Storage: LA > Dallas

[Rick J. Caruso @RickCarusoLA]

Great cities are built on opportunity. For generations, people came to Los Angeles believing that hard work, determination, and a good idea could take them anywhere. We need to restore that belief and make this city a place where people can dream big and succeed again.

[Daniel S. Loeb @DanielSLoeb1]

It’s not that you’re a billionaire, it’s that you are insufferable and insincere.

[John Arnold @johnarnold]

After many conversations over past year with friends, business associates & policymakers about the future of AI job disruption, I’ve tried to get my thoughts in order. With the caveat that I have no specific AI expertise, here they are. Comments and corrections encouraged.🧵
1/n

[Mark Cuban @mcuban]

A well written article on the legislative options for PBMs

https://t.co/tG3bQSwXg3

[John Arnold @johnarnold]

So many things that would be disqualifying for a candidate 20 years ago don't make it past the 24-hour news cycle today.

[Mark Cuban @mcuban]

1. Small Business creates ~60% of new jobs every year
2. AI makes it easier and faster for them to compete with larger companies.
3. The % of jobs created by Small biz every year will only increase.
4. Start your job search with small businesses

[Billionaire Trivia @BillionTrivia]

An article about Peter Thiel in Argentina: Why Peter Thiel Is Decamping to the End of the World https://t.co/jHeJjFLzUQ

[Rick J. Caruso @RickCarusoLA]

A grateful heart is one of life’s greatest gifts. Taking a moment each day to appreciate the blessings around us can make all the difference. Comment below which quote is your favorite.

[John Arnold @johnarnold]

America's cultural ideal has been the self-made entrepreneur while Europe's was rooted in aristocracy, with status inherited rather than earned. Europe's inheritance laws show this divide.

Many European countries have "forced heirship" laws that require people to leave 50-75% of their estates to their children. Want to leave the majority of your wealth to charity? not allowed. Your kids are estranged from you, struggling with addiction, or irresponsible? still required to give them the money. Want your kids to avoid a life of entitlement? tough.

Incredibly, these laws look back at transfers made during your lifetime. If you have 3 children in France, you're required to bequeath them a minimum of 75% of your estate. Because French law calculates this based on your assets at death plus all lifetime gifts, giving away more than 25% of your wealth while alive means your heirs can legally sue to force charities or foundations to return the funds. This has limited the development of the nonprofit sector on the continent.

The cultural gap between an entrepreneurial society and one shaped by dynastic wealth is enormous. If you make it yourself, you tend to want your kids to do the same. If you inherit it, the primary goal is protecting the estate for the next gen.

Countries like Spain, France, and Italy legally entrench family dynasties, while America has historically sought to limit them through estate taxes. The result is not only a weaker culture of philanthropy and civil society in Europe, but also less economic dynamism.

[Billionaire Trivia @BillionTrivia]

Bill Gates’s employees spent years carefully cultivating his image—down to keeping a custom-size mannequin to test his outfits. Now his image has been shattered. https://t.co/zyVoJOwscB via @WSJ

[Robert Friedland @robert_ivanhoe]

As we have highlighted before, U.S. mining schools collectively graduated about 300 mining engineers last year, according to @washingtonpost. China, by contrast, is home to about 45 mining engineering programs and churns out about 3,000 graduates every year, according to 2024 estimates.

Rapid upskilling and training is needed to catch up and this a good step in the right direction.

https://t.co/ehDgaQ0O2C

[John Arnold @johnarnold]

Between stock trading by federal officials, insider trading in prediction markets, fixed sporting events, and suspicious moves in energy, integrity in markets feels lower today than at any point in the modern era.

[Rick J. Caruso @RickCarusoLA]

We are building the Palisades Park back better than ever — with zero taxpayer dollars. This is the largest public-private partnership in the history of the City of Los Angeles and a template for moving our great city forward.

The partnership between @steadfastla, LA Strong, and the City of LA is epic and unstoppable in moving our great city forward. Nothing is impossible when you believe.

[Robert Friedland @robert_ivanhoe]

The global sulphur market continues to tighten: In addition to banning the export of its own sulphur, Russia has now also halted the export of Kazakh sulphur from Russian ports, its primary export route.

This has particularly impacted net importers like Morocco, which sourced ~45% of its sulphur imports from Kazakhstan in 2025. Office Chérifien des Phosphates Group (OCP), the Moroccan state-owned fertilizer producer is cutting back production by 30% citing lack of available sulphur or sulphuric acid.

The sulphuric acid we produce at our Kamoa-Kakula copper smelter is vital for maintaining other copper and cobalt mining operations across the DRC Copperbelt. We are currently retendering and repricing the sulphuric acid offtake contracts, with the latest contract priced at $725/tonne.

[Billionaire Trivia @BillionTrivia]

A Wall Street Journal article about billionaire Ron Baron: This 83-year-old investor is Elon Musk’s biggest fanboy https://t.co/r3FTVUwGwL via @WSJ

[Billionaire Trivia @BillionTrivia]

Donald E. Newhouse, Low-Profile Heir to a Media Empire, Dies at 96 https://t.co/LjcAi9rgnQ