On Thursday, Amazon CEO Jeff Bezos became the richest man in the world. When Amazon's earnings missed expectations and its stock fell later that day, Bezos was dethroned by Bill Gates. As of Friday, Bezos holds the not-too-shabby title of second-wealthiest man in the world, with a net worth of $85.9 billion.
In the casino business, it’s a cliche that the house always wins. But at Wynn Resorts Ltd. last quarter, the tables turned. On Tuesday, casino billionaire Steve Wynn revealed that a junket operator in his Macau casinos -- essentially a subcontractor -- brought in clients whose winnings cost the casino more than $10 million in April, an astonishing swing for a business that can generate profit of as much as $50 million. “We had probably the most unique statistical anomaly in my 50 years of doing this,” the founder and chief executive officer of Wynn Resorts told analysts on a conference call. “And that is with enormous volume, one of our leading outlets lost money for the entire month.” The contractor
It seems young people get blamed for everything these days. Millennials have been accused of killing marriage, home ownership, chain restaurants, diamonds, department stores, face-to-face interaction and pretty much every long, boring sporting event imaginable. They’re also being accused of killing their own net worth. Here’s a recent survey from Bankrate.com: “In particular, younger millennials (ages 18 to 26) are falling victim to vices that may feel good in the moment, but are far from worth it in the long run: • 54% of people in our age group eat out at least three times per week. • 30% of millennials say we buy coffee at least three times a week. • 51% typically go to a bar at least once