Babe Ruth’s 500th home run bat is expected to fetch more than $1 million at auction

Babe Ruth’s 500th home run bat is shown before it goes up for auction by SCP Auctions in Laguna Niguel, California, November 25, 2019. Babe Ruth’s 500th home run bat is shown before it goes up for auction by SCP Auctions in Laguna Niguel, California, November 25, 2019. Mike Blake | ReutersRuth’s 500th bat was a gift he bequeathed to the former Mayor of Suffern, New York, Jim Rice, back in the mid-1940s. “We feel (the 500th home run bat) has a very good chance of breaking the record.” Babe Ruth’s


Babe Ruth’s 500th home run bat is shown before it goes up for auction by SCP Auctions in Laguna Niguel, California, November 25, 2019.
Babe Ruth’s 500th home run bat is shown before it goes up for auction by SCP Auctions in Laguna Niguel, California, November 25, 2019.
Mike Blake | ReutersRuth’s 500th bat was a gift he bequeathed to the former Mayor of Suffern, New York, Jim Rice, back in the mid-1940s.
“We feel (the 500th home run bat) has a very good chance of breaking the record.”
Babe Ruth’s
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Babe Ruth's 500th home run bat is expected to fetch more than $1 million at auction

Babe Ruth’s 500th home run bat is shown before it goes up for auction by SCP Auctions in Laguna Niguel, California, November 25, 2019. Mike Blake | Reuters

A piece of Babe Ruth memorabilia that was given to a friend 75 years ago could sell for a record price when it gets auctioned off this weekend , according to a California-based auction house. Bids close Saturday on the bat used by the legendary baseball player to hit his 500th home run, and SCP Auctions CEO David Kohler said it’s expected to “bring in over $1 million.” The bat could break the previous auction record for a bat used in a game — the one used by Ruth in 1923 to hit the first home run out of the original Yankee Stadium, Kohler said in an interview. That bat, which is on display at the new stadium, sold for a record $1.3 million in 2004.

Babe Ruth’s 500th home run bat is shown before it goes up for auction by SCP Auctions in Laguna Niguel, California, November 25, 2019. Mike Blake | Reuters

Ruth’s 500th bat was a gift he bequeathed to the former Mayor of Suffern, New York, Jim Rice, back in the mid-1940s. Ruth befriended the former politician, says Rice’s son, Terry. The pair would often golf and go bowling after Ruth retired from baseball in 1935. “They saw each other just about every day,” Terry told CNBC in an interview. Terry and his sisters Pam and Patricia stored the bat in the family home for years and wouldn’t even tell friends about it, fearing it could get stolen. Terry said the bat was often stored in a closet. “It actually became more of a burden,” Terry said. “We were concerned about it; we had to insure it. We figured maybe somebody else could appreciate it.” Terry, who practices law in New Jersey, said the family insured the bat for more than $1 million. Ruth’s personal items have fetched high prices at auctions. His 1928 to 1930 road jersey sold for a record $5.6 million earlier this year by Hunt Auctions. “Babe Ruth is king in the sports memorabilia business,” Kohler said. “We feel (the 500th home run bat) has a very good chance of breaking the record.”

Babe Ruth’s 500th home run bat is shown next to a copy of the next days New York Times before it goes up for auction by SCP Auctions in Laguna Niguel, California, November 25, 2019. Mike Blake | Reuters


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ESPN’s Stephen A. Smith, who makes $8 million a year, reveals his dogmatic work ethic and uncompromising view of authority

I walk out the door every day understanding that reality and operating accordingly,” Smith told GQ in a feature published Wednesday. Part of Smith’s pragmatic perspective has been shaped by his life experience as a black man, he said. “I’m sorry if it makes you uncomfortable, but I’m a black man. One of the many definitions of stupidity is a black man who feels he is not expendable,” he told GQ. “There’s not a black man alive that I know that feels he’s untouchable, and that life doesn’t go on w


I walk out the door every day understanding that reality and operating accordingly,” Smith told GQ in a feature published Wednesday.
Part of Smith’s pragmatic perspective has been shaped by his life experience as a black man, he said.
“I’m sorry if it makes you uncomfortable, but I’m a black man.
One of the many definitions of stupidity is a black man who feels he is not expendable,” he told GQ.
“There’s not a black man alive that I know that feels he’s untouchable, and that life doesn’t go on w
ESPN’s Stephen A. Smith, who makes $8 million a year, reveals his dogmatic work ethic and uncompromising view of authority Cached Page below :
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ESPN's Stephen A. Smith, who makes $8 million a year, reveals his dogmatic work ethic and uncompromising view of authority

With a reported $8 million-per-year salary and a star position as a sports commentator on ESPN’s show “First Take,” 52-year-old television personality Stephen A. Smith reveals the dogmatic work ethic and uncompromising view of authority that has led to his success.

“I wake up every day understanding that I don’t represent just myself. I represent my mom. I represent my family. I represent ESPN. I walk out the door every day understanding that reality and operating accordingly,” Smith told GQ in a feature published Wednesday.

Smith, who was born in the Bronx, New York and raised in nearby Queens, worked his way up in sports journalism. He started his career covering high school sports for the New York Daily News and today he’s considered the “biggest name at ESPN,” according to GQ.

It took hard work (“If I’m asleep, somebody else is awake. If I’m off, somebody else is working,” he said) and following the rules.

While Smith won’t do anything that “will impugn my integrity as a man,” he told GQ, and in his position he has a lot of clout at his network, “[as] a subordinate, I’m very, very, very big on authority,” he said.

In his view, every workplace has rules and people “have to capitulate to them if you want to work. And if you don’t want to capitulate to those rules, then go find another job.”

The fairness or equity of those rules are of little matter. “We got to work and be big boys and big girls…. Those who make the golden rules are those who have the gold,” he said.

It’s also the boss “who determines whether your work is good enough,” according to Smith.

“You do not get to have your hand out for somebody else’s money and define what the standards of success are. If anybody could go out there and define their own success, what kind of world we living in? You’ll have a whole bunch of people who are mediocre that have jobs, and spending [the company’s] money. That’s not how the real world works.”

Part of Smith’s pragmatic perspective has been shaped by his life experience as a black man, he said.

“I’m sorry if it makes you uncomfortable, but I’m a black man. I always feel replaceable. One of the many definitions of stupidity is a black man who feels he is not expendable,” he told GQ. “There’s not a black man alive that I know that feels he’s untouchable, and that life doesn’t go on without him. I’ve never met that man, ever. It’s just the world we live in. No matter what I’ve done, no matter how much I’ve produced, there has always, always, always been folks who are waiting for me to make a mistake, so they can justify not marrying me. And I’m fine with that,” Smith told GQ.

See also:

Alibaba billionaire Jack Ma: Almost ‘everybody can be successful if you really try hard’

Bill and Melinda Gates: No matter where you’re born, ‘life will be harder if you are born a girl’

How turning CrossFit into a religion made its atheist founder Greg Glassman rich


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: catherine clifford
Keywords: news, cnbc, companies, represent, smith, rules, work, told, ethic, matter, view, reveals, man, world, stephen, black, makes, espns, million, uncompromising


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Do these things first if you win the $340 million Mega Millions jackpot

With the Mega Millions jackpot at $340 million, Friday the 13th might turn out to be someone’s ultra-lucky day. And while the odds are stacked against a jackpot win — your chance is 1 in about 302 million — at some point there will be a winning ticket. And experts recommend that big lottery winners take steps right away to protect their windfall. “You want to have a clear head so you can get through a stressful but exciting time,” said Kurland, who specializes in helping lottery winners. Mega Mi


With the Mega Millions jackpot at $340 million, Friday the 13th might turn out to be someone’s ultra-lucky day.
And while the odds are stacked against a jackpot win — your chance is 1 in about 302 million — at some point there will be a winning ticket.
And experts recommend that big lottery winners take steps right away to protect their windfall.
“You want to have a clear head so you can get through a stressful but exciting time,” said Kurland, who specializes in helping lottery winners.
Mega Mi
Do these things first if you win the $340 million Mega Millions jackpot Cached Page below :
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Do these things first if you win the $340 million Mega Millions jackpot

With the Mega Millions jackpot at $340 million, Friday the 13th might turn out to be someone’s ultra-lucky day. Heading into Friday night’s drawing, the top prize has been climbing for more than two months with no one matching all six numbers in the twice-weekly drawings. And while the odds are stacked against a jackpot win — your chance is 1 in about 302 million — at some point there will be a winning ticket. In fact, six past Mega Millions jackpots were won on a Friday the 13th: four in Michigan and one each in Ohio and New York, according to lottery officials.

Allen J. Schaben | Los Angeles Times | Getty Images

Of course, such good fortune also comes with a life-changing amount of money. And experts recommend that big lottery winners take steps right away to protect their windfall. “The days between the drawing and the day you claim will be your last days of normalcy,” said Jason Kurland, a partner at Rivkin Radler, a law firm in Uniondale, New York. “You want to have a clear head so you can get through a stressful but exciting time,” said Kurland, who specializes in helping lottery winners. Here are some tips if you hit the jackpot in Friday night’s drawing.

1. Keep quiet

Your first urge might be to share your exciting news with, well, the world. However, the fewer people who know, the better. This is the case even if you’ll be able to claim your prize anonymously. “The last thing you need is people asking for handouts, or friends and family offering advice about how to claim the money,” Kurland said.

If you won’t be able to dodge publicity due to your state’s law, consider changing your phone number or living somewhere else temporarily to avoid media attention and sudden money requests from long-lost friends or relatives. “I have a lot of clients plan trips the day their win is announced,” Kurland said. “Those first few days are when the press tries to find you, but it usually has died down after a week or so.”

2. Protect your ticket

The standard advice from experts is to sign the back of the winning ticket so that if you are separated from it, your signature can help ensure you still get the prize. “You want the ticket signed, because whoever signs it is the winner,” Kurland said. However, he said, you should first make sure you know the rules for claiming your win in the state where you purchased the ticket. If you bought it in a place that requires the winner’s name to be announced, you might be able to claim it via a trust or other legal entity, thereby keeping your name out of the public eye. “Just be sure you sign the back of the ticket correctly, and do it as soon as possible,” Kurland said.

3. Chill

While you might be eager to claim your winnings, experts say it’s best not to rush over to lottery headquarters the day you discover you’ve become one of the wealthiest people in the country. Mega Millions winners get anywhere from three or six months to a year to claim their prize, depending on where the winning ticket was purchased. Be sure to take the time you need to prepare to claim your winnings. That should include assembling a team of experienced professionals: an attorney, financial planner and tax advisor. More from Personal Finance:

Medicare would cover dental, vision — if Senate OKs House bill

What consumers most want in 2020: a debt-free life

One step you can take in 2020 to head off a tax surprise

4. Consider the bottom line


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: sarah obrien
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What you need to save monthly to retire with $1 million to $3 million, broken down by age

Americans need to save more for retirement. And for the 15% of Americans who have no retirement savings at all, just getting started can seem overwhelming. If you begin now, you can save $1 million, $2 million or $3 million with the right amount of time and dedication. How much you’ll need to save every month will depend on how old you are when you start saving and how much money you want for retirement. The math assumes you have no money in savings, that your investments will earn 6% annually a


Americans need to save more for retirement.
And for the 15% of Americans who have no retirement savings at all, just getting started can seem overwhelming.
If you begin now, you can save $1 million, $2 million or $3 million with the right amount of time and dedication.
How much you’ll need to save every month will depend on how old you are when you start saving and how much money you want for retirement.
The math assumes you have no money in savings, that your investments will earn 6% annually a
What you need to save monthly to retire with $1 million to $3 million, broken down by age Cached Page below :
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What you need to save monthly to retire with $1 million to $3 million, broken down by age

Americans need to save more for retirement.

And for the 15% of Americans who have no retirement savings at all, just getting started can seem overwhelming.

If you begin now, you can save $1 million, $2 million or $3 million with the right amount of time and dedication. How much you’ll need to save every month will depend on how old you are when you start saving and how much money you want for retirement.

Personal finance site NerdWallet crunched the numbers, broken down by age group, to demonstrate how much you’ll have to stash away every month.

First, let’s go over how we got there. The math assumes you have no money in savings, that your investments will earn 6% annually and that you retire at 67.

Now let’s dive into the figures. This video takes a look at how to make it happen.

More from Invest in You:

Here’s how not to make the most common money mistake of all

How mutual funds work — the $18.7 trillion industry fueling retirement in the U.S.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.


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From Vanilla Ice ‘wannabe’ to Mr. positivity: John Cena says staying authentic is key to his success

When he’s not acting, he’s writing children’s books, practicing piano, learning Mandarin and sending uplifting tweets out to his 11.9 million followers. Cena attributes his success in all these fields and his popularity on social media to one trait: authenticity. “It’s the same thing that garnered me a lot of success in the WWE, which was remaining authentic,” Cena told Sports Illustrated in a recent interview. In Cena’s early WWE days, he was known for his persona, Doctor of Thuganomics, who wa


When he’s not acting, he’s writing children’s books, practicing piano, learning Mandarin and sending uplifting tweets out to his 11.9 million followers.
Cena attributes his success in all these fields and his popularity on social media to one trait: authenticity.
“It’s the same thing that garnered me a lot of success in the WWE, which was remaining authentic,” Cena told Sports Illustrated in a recent interview.
In Cena’s early WWE days, he was known for his persona, Doctor of Thuganomics, who wa
From Vanilla Ice ‘wannabe’ to Mr. positivity: John Cena says staying authentic is key to his success Cached Page below :
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From Vanilla Ice 'wannabe' to Mr. positivity: John Cena says staying authentic is key to his success

What does it take to have a career as fruitful and diverse as John Cena’s?

The World Wrestling Entertainment (WWE) star is one of the highest-paid and most decorated wrestlers in the franchise. In the 2017 calendar year, Cena earned $10 million, according to Forbes.

Cena is also an accomplished actor and will appear in the upcoming “Fast and Furious 9.” When he’s not acting, he’s writing children’s books, practicing piano, learning Mandarin and sending uplifting tweets out to his 11.9 million followers.

Cena attributes his success in all these fields and his popularity on social media to one trait: authenticity.

“It’s the same thing that garnered me a lot of success in the WWE, which was remaining authentic,” Cena told Sports Illustrated in a recent interview.

In Cena’s early WWE days, he was known for his persona, Doctor of Thuganomics, who was a “Vanilla Ice exaggerated wannabe” with a lot of “bravado and swagger,” Cena told Sports Illustrated. At the time, it felt authentic: When he was younger, “hip hop was part of my life, a part of my culture,” he said.


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How to retire with $1 million, $2 million or $3 million in savings

How to retire with $1 million, $2 million or $3 million in savings5 Hours AgoRetiring with millions of dollars in your savings may sound impossible, but it can be done if you get serious about investing your money. How much you’ll need to save every month varies greatly depending on your age. Whether you’re 20 or 50, here’s how to do it.


How to retire with $1 million, $2 million or $3 million in savings5 Hours AgoRetiring with millions of dollars in your savings may sound impossible, but it can be done if you get serious about investing your money.
How much you’ll need to save every month varies greatly depending on your age.
Whether you’re 20 or 50, here’s how to do it.
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How to retire with $1 million, $2 million or $3 million in savings

How to retire with $1 million, $2 million or $3 million in savings

5 Hours Ago

Retiring with millions of dollars in your savings may sound impossible, but it can be done if you get serious about investing your money. How much you’ll need to save every month varies greatly depending on your age. Whether you’re 20 or 50, here’s how to do it.


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Mike Bloomberg will push Wall Street executives, other megadonors to back fundraising effort for DNC in 2020

Billionaire presidential candidate Mike Bloomberg is slated to meet with influential business executives on Thursday as he looks to encourage them to back the Democratic National Committee and state Democratic parties in the 2020 campaign. Separately, an aide to Bloomberg said he is planning to call on donors to give directly to the DNC and a variety of state parties. Bloomberg, who served three terms as mayor of New York, has already committed to funding his own campaign for president. Bloomber


Billionaire presidential candidate Mike Bloomberg is slated to meet with influential business executives on Thursday as he looks to encourage them to back the Democratic National Committee and state Democratic parties in the 2020 campaign.
Separately, an aide to Bloomberg said he is planning to call on donors to give directly to the DNC and a variety of state parties.
Bloomberg, who served three terms as mayor of New York, has already committed to funding his own campaign for president.
Bloomber
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Mike Bloomberg will push Wall Street executives, other megadonors to back fundraising effort for DNC in 2020

Former New York Mayor and Democratic presidential candidate Michael Bloomberg speaks about his plan for clean energy during a campaign event at the Blackwall Hitch restaurant in Alexandria, Virginia on December 13, 2019.

Billionaire presidential candidate Mike Bloomberg is slated to meet with influential business executives on Thursday as he looks to encourage them to back the Democratic National Committee and state Democratic parties in the 2020 campaign.

The meeting is set to take place in New York and will include veteran Wall Street leaders who run hedge funds and private equity firms, according to people familiar with the matter. These people declined to be named since the planned gathering has been deemed private.

The invitation to the meeting did not say what it would be about, according to people familiar with the outreach. Separately, an aide to Bloomberg said he is planning to call on donors to give directly to the DNC and a variety of state parties.

Bloomberg, who served three terms as mayor of New York, has already committed to funding his own campaign for president. He has an estimated net worth of $54 billion. Some of his rivals, including Sen. Elizabeth Warren, have accused him of trying to buy the Democratic nomination.

Invitees to the meeting have also been key fundraisers, also known as bundlers, for rival Democrats, including former Vice President Joe Biden and Sen. Kamala Harris, who recently dropped out of the presidential race.

Harris’ donors have been hearing from a variety of people close to rival Democratic candidates looking to woo them into joining their campaigns.

It is Bloomberg’s latest power play to become a leader within the Democratic Party.

“He’ll encourage giving to state parties and the DNC to support efforts across the country to make sure Donald Trump does not get a second term,” Bloomberg spokesman Marc LaVorgna told CNBC in a statement. “Many donors have been sitting on the sidelines, waiting for the primary to play out, and Mike is making it clear we simply cannot wait.”

The DNC in particular is in dire straits and needs help in the fundraising game. The organization’s latest monthly finance report shows that it raised just over $9 million during October and is $7 million in debt.

Bloomberg has already committed over $100 million to his own campaign and, separately, to House Democrats running for reelection. He spent over $110 million backing Democrats as they took over the majority in the House during the 2018 midterm elections.

He spent just over $117 million on TV ads since he entered the race just before Thanksgiving. Bloomberg has also committed to giving more than $10 million supporting House Democrats who are under siege by allies of Trump as some prepare to vote for impeaching the commander in chief.


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: brian schwartz
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Sports agent Scott Boras says huge MLB contracts prove ‘Moneyball’ model doesn’t work

Following a less-than-stellar free agent period last year, Boras said teams are more willing to spend on star veteran players this off-season. Boras negotiated two of the biggest deals in MLB history for pitchers at the 2019 MLB winter meetings in San Diego this week. Once official, Cole’s contract will be the fourth-largest deal in MLB history behind Yankees outfielder Giancarlo Stanton, who has a $325 million contract. Philadelphia Phillies outfielder Bryce Harper, who’s also represented by Bo


Following a less-than-stellar free agent period last year, Boras said teams are more willing to spend on star veteran players this off-season.
Boras negotiated two of the biggest deals in MLB history for pitchers at the 2019 MLB winter meetings in San Diego this week.
Once official, Cole’s contract will be the fourth-largest deal in MLB history behind Yankees outfielder Giancarlo Stanton, who has a $325 million contract.
Philadelphia Phillies outfielder Bryce Harper, who’s also represented by Bo
Sports agent Scott Boras says huge MLB contracts prove ‘Moneyball’ model doesn’t work Cached Page below :
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Sports agent Scott Boras says huge MLB contracts prove 'Moneyball' model doesn't work

Agent Scott Boras prior to the game between the Miami Marlins and the New York Mets at Marlins Park on July 12, 2019 in Miami.

Following a week where he negotiated nearly $1 billion in Major League Baseball player contracts, super-agent Scott Boras says the model teams have used for years has failed, leading to a return to a more traditional model that calls for organizations to spend money.

Appearing on CNBC’s “Squawk Alley,” the founder of Boras Corp. said baseball’s attendance was proof the Moneyball model “didn’t work” and fans demonstrated by staying away from the ballparks.

“We’ve had attendance drops four years in a row,” Boras said. The “moneyball” theory of baseball relies on statistical analysis to give small-market teams an edge by signing players that are undervalued by other teams. Michael Lewis’s 2004 book “Moneyball: The Art of Winning and Unfair Game” that was later made into a movie chronicled the strategy used by the Oakland Athletics general manager Billy Beane. He took the team to the playoffs from 2000 through 2003 on a relatively modest budget.

Earlier this year, USA Today reported the MLB suffered a 4% decline in attendance in 2018, which carried over to start the season in 2019. Following a less-than-stellar free agent period last year, Boras said teams are more willing to spend on star veteran players this off-season.

“The fanbase in baseball has spoken about the models baseball is using, and that is these predicted models where they felt that the successes of teams were going to be measured by something other than I think the fans perception in the ballpark about who great players are,” Boras said.

Boras negotiated two of the biggest deals in MLB history for pitchers at the 2019 MLB winter meetings in San Diego this week. He helped right-handed pitcher Gerrit Cole get a 9-year deal valued at roughly $324 million with the New York Yankees.

Days prior to that news, Boras won a 7-year deal valued at $245 million with the Washington Nationals for World Series Most Valuable Player Stephen Strasburg. Boras then finalized the same contract terms for third baseman Anthony Rendon with the Los Angeles Angels during the final hours of the meetings in San Diego.

The total value of deals he negotiated at the Winter Meetings: roughly $878 million. And with other top-name players like pitchers Dallas Keuchel and Hyun-jin Ryu remaining on the free-agent market, Boras should surpass $1 billion in contracts negotiated this offseason.

Boras said after team owners reviewed the use of sabermetrics to build rosters and determined the model wasn’t working, they returned to a more “traditional” approach.

“They felt that they had a model that allowed them to use younger players, avoid free agents, and they thought the clubs would be more successful doing it,” Boras said. “And it’s illustrated that did not work.”

Boras feels the traditional approach is scouting, growing and developing younger players, and signing big-name veteran players to substantial contracts if necessary. According to Boras, the fans respond better to the traditional roster-building model.

“Teams who employ great players, veteran players, are being very successful,” Boras said. “The need for them is something that the fans identify with; they want known commodities to go see. They want competition at the ballpark.”

Once official, Cole’s contract will be the fourth-largest deal in MLB history behind Yankees outfielder Giancarlo Stanton, who has a $325 million contract. Philadelphia Phillies outfielder Bryce Harper, who’s also represented by Boras, has a $330 million contract and Los Angeles Angels outfielder Mike Trout’s contract is worth $426.5 million.

The deal pays Cole an average of $36 million a year, the highest average annual payout in the MLB, according to Spotrac, surpassing Strasburg’s $35 million average yearly pay.

Other pitchers earning an average of at least $30 million a year include Astros pitcher Justin Verlander at $33 million, Boston Red Sox lefty David Price at $31 million, Dodgers’ Clayton Kershaw at $31 million and and Nationals pitcher Max Scherzer at $30 million.

With $2.4 billion in managed contracts and $118 million in commissions, Boras is ranked the second-most powerful sports agent in the world by Forbes.


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: jabari young
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Fintech company Bill.com surges more than 60% in market debut

Shares of fintech company Bill.com soared a whopping 60% on its first day of trading on the New York Stock Exchange on Thursday. Bill.com, which sells software services to small- and medium-sized business to help with payment processes, was priced at $22 per share before its market debut. “We focus on really helping small- and medium-sized businesses get rid of the mess that runs their back office,” Bill.com founder and CEO René Lacerte told CNBC’s “Squawk Alley” on Thursday. The company’s artif


Shares of fintech company Bill.com soared a whopping 60% on its first day of trading on the New York Stock Exchange on Thursday.
Bill.com, which sells software services to small- and medium-sized business to help with payment processes, was priced at $22 per share before its market debut.
“We focus on really helping small- and medium-sized businesses get rid of the mess that runs their back office,” Bill.com founder and CEO René Lacerte told CNBC’s “Squawk Alley” on Thursday.
The company’s artif
Fintech company Bill.com surges more than 60% in market debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, debut, stock, company, software, mediumsized, surges, small, market, share, million, billcom, platform, businesses, fintech


Fintech company Bill.com surges more than 60% in market debut

Shares of fintech company Bill.com soared a whopping 60% on its first day of trading on the New York Stock Exchange on Thursday.

Bill.com, which sells software services to small- and medium-sized business to help with payment processes, was priced at $22 per share before its market debut. The stock is now above $35 per share. The company has a market cap of $20.89 billion.

“We focus on really helping small- and medium-sized businesses get rid of the mess that runs their back office,” Bill.com founder and CEO René Lacerte told CNBC’s “Squawk Alley” on Thursday. Lacerte said the company is trying to let these businesses focus on their goals and not worry about finances.

The company’s artificial intelligence based financial software platform creates connections between businesses and their supplies and their clients.

“Today, over 81,000 customers trust our platform to manage their financial workflows and process their payments, which totaled over $70 billion for fiscal 2019,” the company said in it IPO filing with the SEC.

Bill.com’s total revenue for fiscal 2019 was $108.4 million, a 67% increase from the $64.9 million earned the year prior.

The company partners with Bank of American, J.P. Morgan and American Express, among other finance and accounting businesses.


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, debut, stock, company, software, mediumsized, surges, small, market, share, million, billcom, platform, businesses, fintech


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Take a look inside of Lachlan Murdoch’s new $150 million LA mansion

The 25,000-square-foot main residence Photograph by Jim Bartsch, courtesy of the Estate of Jerry PerenchioThe property’s 25,000-square-foot main residence has 11 bedrooms, 18 bathrooms and a limestone facade. Morning room Photograph by Jim Bartsch, courtesy of the Estate of Jerry PerenchioOn the opposite end of the main level is the “garden room.” Photograph by Jim Bartsch, courtesy of the Estate of Jerry PerenchioThe parking structure can hold up to 40 cars. Motor court Photograph by Jim Bartsc


The 25,000-square-foot main residence Photograph by Jim Bartsch, courtesy of the Estate of Jerry PerenchioThe property’s 25,000-square-foot main residence has 11 bedrooms, 18 bathrooms and a limestone facade.
Morning room Photograph by Jim Bartsch, courtesy of the Estate of Jerry PerenchioOn the opposite end of the main level is the “garden room.”
Photograph by Jim Bartsch, courtesy of the Estate of Jerry PerenchioThe parking structure can hold up to 40 cars.
Motor court Photograph by Jim Bartsc
Take a look inside of Lachlan Murdoch’s new $150 million LA mansion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: christopher dilella robert frank, christopher dilella, robert frank
Keywords: news, cnbc, companies, jerry, mansion, perenchiothe, estate, perenchio, main, inside, bartsch, photograph, look, murdochs, lachlan, 150, million, courtesy, room, jim


Take a look inside of Lachlan Murdoch's new $150 million LA mansion

The Chartwell Estate Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

Media scion Lachlan Murdoch reportedly paid $150 million for an estate in Los Angeles’ Bel Air neighborhood, making it the most expensive home ever sold in the city. According to The Wall Street Journal, Murdoch — the eldest son of media tycoon Rupert Murdoch — is the buyer of the 10-acre estate being sold by the estate of the late A. Jerrold Perenchio. Perenchio, who died in 2017, was the chairman and CEO of Univision. The estate, known as Chartwell, has a storied history. Its exterior was used in the credits of “The Beverly Hillbillies” TV series. It was built in the 1930s and later owned by Chicago hotelier Arnold Kirkeby. Perenchio bought it in 1986 for $14 million and over time, added three adjacent parcels of land. In 2016, he acquired the neighboring former home of Ronald and Nancy Reagan, which is also included in the Murdoch sale. The estate had originally been listed for $350 million, but got a price cut to $195 million in August .

The 25,000-square-foot main residence Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The property’s 25,000-square-foot main residence has 11 bedrooms, 18 bathrooms and a limestone facade. If the exterior looks familiar, that’s because it was used in “The Beverly Hillbillies,” a TV series that aired from 1962 to 1971, as the Clampetts’ mansion. The original home was designed by Los Angeles architect Sumner Spaulding and completed in 1935. Shortly after acquiring Chartwell in 1986, Perenchio did a complete gut renovation of the interiors that took five years to complete. During that time, he also extended the property’s footprint to more than 10 acres by purchasing and combining three neighboring lots. One of those lots included a home that Perenchio converted into Chartwell’s 5,700-square-foot guest house, a second was demolished to make room for a driveway, and a third was bulldozed to become a grassy helipad.

Chartwell Estate’s 5,700-square-foot guest house Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The media mogul adorned his main residence with rare European furniture and antiques he collected over the years, including his private art collection worth hundreds of millions of dollars. The collection was bequeathed to the Los Angeles County Museum of Art upon his death. He also constructed some significant modern additions to the property.

The main residence

Front gate Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

Past the iron gates of 875 Nimes Road is a winding driveway bordered by lush greenery that leads visitors to the iconic entrance of the main residence.

Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

Through the front doors and past the main entry is an expansive living room, designed by late French interior designer Henri Samuel. Samuel renovated all rooms in the home in the late 1980s.

Main entry Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

Living room Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The main living area has spectacular views of the backyard, including sights of estate’s grand fountain bordered by an allee of trees.

Backyard view Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

Grand fountain Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The estate’s master bedroom and dressing area also have the same breathtaking views of the landscape below.

Master bedroom Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

Master bedroom dressing area Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

View from master bedroom dressing area Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The estate’s formal dining room — with seating for 18 — has paneled walls imported from Europe and date to the mid-1700s.

Dining room Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The “morning room” has a mint-green vaulted lattice ceiling that was constructed in Paris, shipped in sections, and reassembled inside the room. The curtains identically match the floral wallpaper.

Morning room Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

On the opposite end of the main level is the “garden room.” On the walls are five black-and-gold Japanese lacquer panels inlaid with mother of pearl.

Garden room Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

Gary Gold, one of the listing agents from Hilton & Hyland, said Perenchio loved to entertain. One level below the main living room is a ballroom where he hosted big events. “The owner knew how to throw a party. And in [here], he loved a surprise,” Gold said.

Ballroom Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

With the press of a remote control button, a pair of motorized Asian screens split open to reveal a grand piano on a stage.

Motorized screens open to reveal piano Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

“Now, I’m not going to drop names, but on this very stage, Mr. Perenchio would have A-list performers who were used to playing in arenas, playing here for an intimate gathering of a hundred guests,” said Gold. Steps away from the performance area is the billiard room.

Billiard room Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

An avid wine collector, Perenchio built a climate-controlled wine cellar that holds as many as 12,000 bottles. (His wine collection later sold in two separate Sotheby’s auctions — one in March 2018 and the other in May 2018 — for just under $12 million.)

Wine cellar Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The secret tunnels

Buried underneath the main residence is a subterranean level that dates to 1935. This lower level is accessible by elevator. It opens into two tunnels that lead to different areas of the estate. The late Italian opera singer Luciano Pavarotti, who was a friend and a frequent guest, would often come down to these tunnels to practice because the acoustics were so great, Gold said. One of the tunnels leads to the estate’s 75-foot swimming pool and pool house.

Pool house Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The other tunnel delivers visitors out of a colossal stone head and into acres of private gardens, grottos and ponds filled with koi fish.

The gardens

Perenchio poured millions of dollars into the 10-acre compound’s gardens and landscaping, and his passion for horticulture is still apparent.

Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

When visitors drive up the perimeter of the property on Bel Air Road, they are greeted by perfectly sculpted gumdrop trees in front of a stone wall. Hidden underneath the estate’s rose garden is a motor court Perenchio built for when he had visitors.

Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

The parking structure can hold up to 40 cars.

Motor court Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

Motor court interior Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

There’s also a vegetable garden.

Vegetable garden Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

But perhaps the most unique landscaping feature the billionaire created was his private redwood grove. Perenchio admired the redwoods found mostly in Northern California so much that he shipped in dozens of trees to Chartwell. The trees now lend shade to the estate’s meandering bridle paths.

Redwood grove Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: christopher dilella robert frank, christopher dilella, robert frank
Keywords: news, cnbc, companies, jerry, mansion, perenchiothe, estate, perenchio, main, inside, bartsch, photograph, look, murdochs, lachlan, 150, million, courtesy, room, jim


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