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Billionaire Stephen Ross aims to position Florida’s Palm Beach County as the next Silicon Valley, calling the region a more business-friendly environment for tech investors and executives than California.Processing ContentA proposed tax on billionaires in California has led to fear among investors and shows the difficulty of doing business in the state, Ross said in an interview with Bloomberg News in Palm Beach Wednesday. He sees that as an advantage as he tries to build South Florida into a tech and finance hub. “The venture capitalists kind of want to get out of California because of the restrictions that are there,…

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.When Peter Buffett learned that he and his siblings would be in charge of giving away the fortunes of their father, Warren Buffett, his response was clear.”I did not want it,” Peter Buffett told CNBC. “I called him up and said, ‘I want to opt out.’ He said, ‘I don’t blame you.’ It obviously puts an enormous amount of pressure on us.”In 2024, Warren Buffett announced that after his death,…

Amazon package and Saks Fifth Avenue bag.Getty ImagesAmazon wants a federal judge to reject Saks Global’s bankruptcy financing plan, writing in court papers the beleaguered department store “burned through hundreds of millions of dollars in less than a year” and failed to hold up their agreement. When Saks acquired Neiman Marcus for $2.7 billion in December 2024, Amazon invested $475 million into the venture on the grounds the retailer would start selling its products on Amazon’s website and the tech company would offer technology and logistics expertise.”That equity investment is now presumptively worthless,” Amazon’s attorneys wrote in a Wednesday filing, hours…

BlackRock isn’t seeing any cockroaches scurrying out of its private credit portfolio yet.The $14 trillion asset manager has become a major player in the private lending space after it acquired HPS at the end of 2024. The firm has been focused on fundraising for private markets, and CEO Larry Fink said Thursday during BlackRock’s earnings call that the firm’s distribution team was pitching HPS offerings to advisors for wealthy people at wirehouses like Morgan Stanley and Merrill Lynch.Private credit has seen explosive growth in recent years, as strategies brought in more than $220 billion in 2025, according to S&P. Still,…

A version of this article first appeared in the CNBC Sport newsletter with Alex Sherman, which brings you the biggest news and exclusive interviews from the worlds of sports business and media. Sign up to receive future editions, straight to your inbox.NBC is about to have itself a “legendary” month. “Legendary February,” a marketing tagline invented by NBC Chief Marketing Officer Jenny Storms, is all about the sports that will be aired by NBCUniversal, the subsidiary of Comcast. The Milano Cortina Winter Olympics begin Feb. 6 with the opening ceremonies. That will air on NBC, followed by a two-week slew of Olympics programming.…

2026-01-15T15:14:00.175Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. America has more billionaires than ever, led by Elon Musk, who’s estimated to be worth $716 billion. Figures such as John D. Rockefeller and Andrew Carnegie were known as the richest men of their time. Today’s tech leaders are among the richest Americans in history — see the full…

Cuyana’s Classic Easy Tote strikes a great balance between elegance, durability, and sheer capacity. At first glance, it looks like a simple, minimalist leather tote — but after extended use, it becomes clear just how thoughtfully designed it is.The bag is made from Cuyana’s signature Italian leather, which is soft and supple while still holding its shape. It has enough structure to look polished for work or travel, but it’s flexible enough to expand when you need to carry more. Unlike flimsier totes, it doesn’t collapse or look misshapen when partially filled — one of the hardest qualities to get…

I majored in journalism in college, but fell into tech sales after graduation. Over the past 17 years, I’ve worked my way from cold-calling as a sales rep to a Director of Sales. But after having kids I started craving a creative outlet and decided to start writing again in 2024.I didn’t set out to make money from it. My first several pieces were unpaid personal stories for a parenting website. When the editor reached out and asked if I wanted to try freelancing, it gave me the confidence to see if I could turn my writing into a side…

A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.For the second month in a row, heat came out of the commercial real estate market in November. Transaction volume was 10% lower than November 2024, with just 1,800 deals overall, according to monthly data provided by Moody’s as a media exclusive to CNBC’s Property Play. It tracks the top 50 commercial…

An entrance to the Saks Fifth Avenue flagship store in New York on Jan. 14, 2026, after the company filed for bankruptcy protection.Brendan Mcdermid | ReutersFor more than a decade, the former executive chairman of Saks Global dreamed of adding Neiman Marcus to his collection of legacy department stores, believing the combined entities would create a luxury powerhouse strong enough to defy changes dragging down the industry.Instead, Richard Baker’s $2.7 billion acquisition of Neiman Marcus in 2024 ultimately plunged the company into bankruptcy just over a year after the transaction closed. From the very start, the company was struggling to pay…