Tag: money

Barnes & Noble Will Be Sold to Elliott Management

According to NPRthere is big news in the publishing world for bookseller Barnes & Noble. Eight months ago, Barnes & Noble revealed it was exploring possible avenues for a potential sale. Now, Barnes & Noble revealed in a press release on Friday that it had reached an agreement with Elliott Management and will be sold to the corporation for 683 million. This move will mean Elliott Management will own the largest bookseller in the United States, which unfortunately has been suffering as of late. Much like other physical bookstores, Barnes & Noble is facing stiff competition from online competitors: primarily Amazon, which today dominates the book world. Amazon regularly sells over 50% of books, leaving bookstores such as Barnes & Noble in the dust. For the past several years, Barnes & Noble has seen its revenue slid downward slowly but surely, presenting numerous challenges for Elliott with this newfound sale to the corporate giant.

 

A man walks past Barnes & Noble in New York City

Image via CNN

 

James Daunt will act as the CEO for Barnes & Noble. Recently, he helped British bookstore Waterstones turn its profits around and pull itself from a similar slump to the one Barnes & Noble has found itself in. Elliott’s financial backing, with 34 billion at least in store, should prove a boon for the struggling giant in booksellers. In any case, the deal will be finalized in September, and we’ll see if the deal pays off.

What are your thoughts on this? Let us know in the comments!

 

 

Featured Image Via NPR 

AVENGERS

‘Avengers’ Tickets Being Sold on eBay for Over $15,000!!!

Acquiring first-week-release tickets for Avengers: Endgame is now comparable to acquiring Golden Tickets to Wonka’s factory. People know this. People are taking advantage of it.

CBS reports that scalpers are selling sold out theater tickets at disturbing prices. Some of the “lowest” selling tickets are starting at $750 for five seats in an Illinois cinema. The most expensive that are listed on eBay range from $10,000 to $15,000.

 

Snapped
IMAGE VIA DOUGLAS WESLEY

 

Potential buyers are likely eager to obtain premiere tickets for the sake of avoiding HEAVY spoilers. If you are one of these people, just know that Endgame actually releases in some countries, such as China, before the US (This is bullsh*t, I know). Therefore, “destiny still arrives.”

But you know what? Congratulations to those of you who successfully purchased the highly coveted Thursday night premiere tickets – I’LL SEE YOU THERE.

 

 

Featured Image via CBS

Bill Gates Praises This Finance Book as “Thrilling”

When the founder of Microsoft recommends a book, it is likely a good idea to add it to your ever growing wish list.

CNBC reports that billionaire, not-quite-playboy, philanthropist Bill Gates was hosted for a CNN interview and recommended Billion Dollar Whale, by Tom Wright and Bradley Hope.

“It’s a sad story of corruption in international finance, but fascinating. As Bad Blood is to biotech, Billion Dollar Whale is to international finance,” Gates explains.

 

Billion Dollar Whale by Tom Wright and Bradley Hope

Image via Amazon

John Carreyrou’s Bad Blood documents the rise and fall of Theranos, a blood-testing start-up valued at $9-billion before being exposed for fraud. Billion Dollar Whale follows Malaysian businessman Jho Low, the mastermind behind the 1Malaysia Development Berhad Scandal involving a complex web of illegitimate offshore companies, A-list celebrities, the Middle East, and Wall Street. He is now on the run.

“Not as profound as [Steven] Pinker, [Paul] Scharre, [Hans] Rosling,” Gates adds, “But a wonderful read, very quick, thrilling.”

Gates has previously recommended books that are known to be comparably more hopeful and enlightening. His latest book recommendation is something of a cautionary tale worth heeding.

Fun fact: Low used some of the money to finance The Wolf of Wall Street.

 

 

 

Featured Image via CNBC

J.K. Rowling superimposed over a background of dollar bills

Here’s How Much Money J.K. Rowling Makes Per Hour

So we all know J.K. Rowling is ridiculously rich—according to the recent Forbes list of the highest paid celebrities, she’s richer than both Drake and Lady Gaga with a 2018 income of $54 million. Maybe a number that enormous is difficult to comprehend. Rich is rich, right? Absolutely not. You might realize that, with fifty-two weeks in a year, Rowling earns over one million dollars per week. To wrap your had around this staggering hoard of wealth, let’s measure it out in houses (no, not the Hogwarts kind).

 

The average price of a house in the United States is $200,000. Let’s round down J.K.’s weekly earnings to a tidy one million. That means every week, J.K. Rowling could purchase five homes and, with the $300,000+ dollars she’d have left, buy a Ferrari Spider to drive between them. Let’s reiterate—one week.

 

JK Rowling with money floating around her head

Image Via The Daily Express

 

Infamous as the first and only billionaire to lose her ten-figure status due to charitable donations, it’s important to remember that several million dollars—several hundred million dollars—can still buy an island or, if you’re so inclined, the Romanian castle that inspired Bram Stoker to write Dracula. (In any case, she’s a billionaire again.) So let’s go even deeper into the bottomless expanse of J.K.’s coin, a gold pile so enormous you’d expect it to come with a dragon on top, ask the real question: how much money does J.K. make in an hour?

 

Harry Potter looking at his vault full of galleons

Image Via Perez Hilton

 

That’ll be $10,948, folks. Every single hour. Including while she sleeps.

 

"DON'T FUCKING CRY"

Image Via Tumblr

 

(For context, that’s more than the average cost of a year of in-state public college education. That means that J.K. Rowling makes enough money to cover the average American’s entire college costs while taking a long nap.)

 

 

Featured Image Via YouTube.com