Tag: billionaire

Tech billionaire Jeff Bezos thinks AI will ‘set us free’ from work but the internet isn’t buying …

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Jeff Bezos says AI could power a return to single-earner households as it turbocharges productivity

Jeff Bezos says many families will return to having just one working parent as AI drives increased productivity.

Speaking to Fox News in an interview on Wednesday evening, the Amazon founder said the workplace efficiency gains he believes AI will trigger could lead to a labor shortage.

If AI increases economic productivity as he expects it to, "you're not going to need to have a two-earner income household," Bezos told Fox News chief political anchor Bret Baier.

"If you want to have it, it's fine. You'll have it. But if you don't want to have it, one of the people might drop out," he added.

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October 10, 2026
Billionaire-owned logistics giant ACFS collapses into administration | External administrator app…

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Billionaire-owned logistics giant ACFS collapses into administration

ACFS Port Logistics, the container logistics empire run by the billionaire Tzaneros family, has fallen into administration despite promises to repay a string of creditors including the Australian Taxation Office.

ACFS, which moves stock from ports around the country for companies including Coles and Wesfarmers’ Bunnings and Kmart chains, was put into administration by ScotPac, a specialist business lender, on Thursday.

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External administrator appointed for ACFS Port Logistics

The development follows a number of applications to wind up the business including by the Australian Taxation Office (ATO).

Speaking to Daily Cargo News, managing director Arthur Tzaneros said they were “still looking at paying the ATO in full”, albeit they were seeking clarification on what was required to have the administrator removed.

An ASIC notice confirming ACFS Port Logistics is in external administration. Image: ASIC

“We have got the funds to pay the ATO, so we then have to go back to the funder and say… ‘what is your position’?

“It is frustrating because we have the funds and the approvals to replace the current funder, but the current funder wasn’t willing to wait.”

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August 6, 2026
Billionaire Leon Black walks out of Epstein investigation hearing | Leon Black accused of stonewa…

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Billionaire Leon Black walks out of Epstein investigation hearing

Billionaire investor Leon Black walked out of a closed-door hearing with the congressional committee investigating late sex offender Jeffrey Epstein after refusing to answer questions on non-disclosure agreements (NDAs), say lawmakers.

Black, whose name comes up in the Epstein files released by the justice department, testified voluntarily. But he left after he was asked about NDAs he may have signed, the panel chairman said.

The House of Representatives Oversight Committee issued two subpoenas for Black to share NDAs and give an on-camera deposition under oath.

Black left Apollo Global Management, which he co-founded, in 2021 amid scrutiny over his Epstein ties. He denies wrongdoing.

Leon Black accused of stonewalling Congress as Epstein hearing ends abruptly

House committee subpoenas billionaire over nondisclosure agreements after he reportedly refused to answer questions

Billionaire financier Leon Black’s testimony before a House committee investigating Jeffrey Epstein ended abruptly on Friday morning after members from both parties said Black refused to answer questions about non-disclosure agreements.

James Comer, the Republican who chairs the committee, told reporters that the committee had already issued two subpoenas to Black on Friday – one demanding he produce any nondisclosure agreements, and another to appear again before the committee next month.

Speaking to reporters outside the room, Comer said that “the NDAs are between him and other women” and that the committee wants to know “was Jeffrey Epstein involved in the NDAs? Was he involved in writing? Was he involved in awarding funds to the women for the NDAs? … What was the reason for the NDAs? We want to know everything about the NDAs.”

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Epstein 'duped and deceived' me: billionaire investor

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Billionaire investor Leon Black has told a US congressional panel that he had ‌no involvement or knowledge of the late convicted sex offender Jeffrey Epstein's "heinous conduct."

"Let me state unequivocally that I have never abused ‌a woman. I have never been with an underage woman," Black told members of the House of Representatives' Oversight and Government Reform Committee, according to a copy of his opening statement.

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June 27, 2026
Aussie billionaire buys world’s fastest car | BYD Yangwang U9 Xtreme: World’s fastest productio…

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BYD Yangwang U9 Xtreme: World's fastest production car confirmed for Australia – with a catch

One of just 30 examples of the 496km/h Yangwang U9 Xtreme electric supercar to be produced globally has been secured for Australia.

The fastest and most expensive Chinese vehicle ever released is coming to Australia, but just one example of the $1 million-plus, 2220kW Yangwang U9 Xtreme electric supercar is heading Down Under.

Nick Politis, a director of Eagers Automotive – Australia’s largest new-car dealer group and a retail partner of BYD – is the buyer of the sole U9 Xtreme coming here.

Known for his collection of exotic cars, Mr Politis told media including CarExpert that it will be the first electric vehicle (EV) in his supercar collection.

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April 27, 2026
Billionaire Adrian Portelli wants to sell you petrol as UK move raises gambling concerns | Lambo …

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Billionaire Adrian Portelli wants to sell you petrol as UK move raises gambling concerns

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Billionaire Adrian Portelli is laying the groundwork to launch his wildly popular pseudo-lottery business into the United Kingdom as part of a business expansion that includes branded petrol stations and kiosks in shopping centres across Australia.

It’s a move that could catapult “Lambo guy” into the league of Australia’s richest people and make his subscription-based prize draw business one of the country’s biggest private companies.

However, anti-gambling advocates in the UK and Australia are concerned Portelli’s new business ventures both here and abroad, will increase gambling advertising in places frequented by families.

Lambo Guy Adrian Portelli Faces Anti-Gambling Opposition Over Launch Of LMCT+ Petrol Stations

Adam Roarty is a journalist covering sports betting, regulation, and industry innovation for CasinoBeats. His coverage includes tax increases in the UK, covering breaking stories in the ever-evolving landscape of US betting such as the…

Australian billionaire Adrian Portelli, also known as Lambo Guy from his appearance on the reality TV show The Block, is facing opposition to the launch of LMCT+ petrol stations, with critics arguing they are vehicles to promote illegal lotteries.

Portell founded LMCT+ in 2018, a subscription service that offers members discounts on shopping and opportunities to win high-value prizes. The company has faced legal challenges in Australia with accusations that it is running an illegal lottery.

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Inside Adrian Portelli's shock return to Melbourne days after saying 'Dubai felt safer than Australia'

Controversial entrepreneur Adrian Portelli is preparing to return to Melbourne after spending several months living a glamorous life in Dubai – despite recently claiming the Middle Eastern city felt 'safer' than Australia.

The billionaire businessman, best known to television audiences as The Block's so-called 'Lambo Guy', is expected to touch down in Australia in the coming weeks as he ramps up a string of major business projects.

Among them is an ambitious new venture that will see Portelli enter an unexpected industry: petrol stations.

Sources say the LMCT+ founder is preparing to open the first LMCT+ branded petrol station, with the inaugural site reportedly set for Preston in Melbourne's north.

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March 13, 2026
Billionaire Adrian Portelli offloading final Block house | Australian business owners in Dubai ‘s…

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Billionaire Adrian Portelli offloading final Block house

Adrian Portelli’s final Hampton East Block home at 14 Charming St has returned to the market with $2.9m-$3.1m price hopes.

Adrian Portelli is officially done with The Block, listing the final home from his haul as he prepares to launch rival renovation show My Reno Rules.The five-bedroom property at 14 Charming St, was renovated as House 1 during the 2023 season of the hit Channel 9 series by Western Australian couple Kyle and Leslie, and sold at auction for $3.1m.Now the home has returned to the market with $2.9m to $3.1m price hopes, placing the guide broadly in line with what Portelli paid on auction night.RELATED: Channel 7 hands out homes, Portelli kills off Block

Australian business owners in Dubai 'staying put'

Donna Benton and her family go out for dinner in Dubai. (Supplied: Donna Benton)

Hundreds of UAE-based Australian companies have been impacted by rising tensions in the Middle East, forcing them to make quick changes to their daily operations.

Many businesspeople say they feel safe under the UAE's leadership, stating Dubai is their home and they will not return to Australia.

Exporters in the Middle East have experienced disruptions, with companies shipping perishable goods likely to be the most affected.

Since US-Israeli strikes hit Iran, Australian business owner Kate Midttun has made several changes to the way she operates her marketing agency out of Dubai, in the United Arab Emirates (UAE).

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Dubai built its boom on expats. Now war has the city on edge

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As missiles streaked across the sky above the United Arab Emirates last weekend, the first images seen by the outside world largely came from hotel balconies and luxury apartments.

The city’s booming influencer community and tourists filmed air defence systems light up the night’s sky as they barricaded themselves inside hotel rooms, many pleading for help.

But in the days since, a counter narrative has emerged from the those who call the United Arab Emirates home.

Western expats have flooded social media with images of heaving cafes, crowded malls and busy beach clubs, pushing back against what they say is a distorted picture of life inside the Gulf’s expat hubs.

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March 9, 2026
Billionaire Laurence Escalante hit with fresh drug charges | Billionaire’s court scuffle amid d…

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Billionaire Laurence Escalante hit with fresh drug charges

Embattled billionaire Laurence Escalante is facing a slew of fresh drug charges after an alleged assault on his former partner triggered a police raid on his home.

The 44-year-old founder of Virtual Gaming Worlds fronted Perth Magistrates Court on Thursday on nine new charges, comprising three counts of possessing a prohibited drug and six of unlawfully possessing a prescription drug.

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February 26, 2026
Billionaire Gates adds a rich flavour to Aussie mixed doubles triumph | Gadecki and Peers claim b…

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Billionaire Gates adds a rich flavour to Aussie mixed doubles triumph

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Rod Laver Arena might have only been half full for the Australian Open mixed doubles final on Friday, but that did not stop billionaire Bill Gates from dropping in to watch Australian wildcards John Peers and Olivia Gadecki win their second straight title.

The philanthropist and Microsoft co-founder has often been spotted supporting Peers, having met the Australian through his now partner Paula Hurd.

Olivia Gadecki and John Peers celebrate winning another Australian Open mixed doubles title.Credit: Eddie Jim

Gadecki and Peers claim back-to-back AO mixed doubles titles

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With billionaire Bill Gates cheering from the stands, hometown wildcards Olivia Gadecki and John Peers broke a 37-year drought when they became the first pairing to defend their Australian Open mixed doubles crown in thrilling fashion.

Buoyed by a parochial Melbourne Park audience on Friday, which included Peers' mate Gates, the Australians played catch-up for most of their final against French duo Kristina Mladenovic and Manuel Guinard, before finishing with a flourish to prevail 4-6 6-3 [10-8].

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Aussie duo clinch back-to-back mixed titles

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John Peers and Olivia Gadecki plan to target a three-peat after becoming the first pairing to win back-to-back Australian Open mixed doubles titles in 37 years.

The local wildcards won a thriller in Friday's final against Kristina Mladenovic and Manuel Guinard, who were bidding to become the first French duo to win the mixed crown at Melbourne Park.

After splitting the first two sets the Australians triumphed in a 10-point tiebreak decider, running out 4-6 6-4 10-8 winners in 93 minutes.

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January 31, 2026