Billionaire | featured news

Sam and Charles Wyly, billionaire Texas brothers who gained prominence spending millions of dollars on conservative political causes, committed fraud by using secret overseas accounts to generate more than $550 million in profit through illegal stock trades, the Securities and Exchange Commission charged Thursday.

Only 14 women in the world have earned their own 10-figure fortunes, and half of them struck it rich in China.

The ground shook and buildings swayed as billionaire Sebastian Pinera took over as Chile's president on Thursday, tasked with rebuilding after a massive earthquake killed hundreds just 12 days ago.

Billionaire Sebastian Pinera was elected president of Chile yesterday, after a runoff election against former president Eduardo Frei. Pinera, who was a senator for eight years and ran unsuccessfully for president in 2005, ranked 701st among the world's billionaires in March 2009 with a net worth of $1 billion. He is likely worth much more than that now thanks to the soaring value of his most valuable holding, a 26% stake in Chile's national airline LAN, which was recently worth $1.5 billion.

China ranks second only to the United States in the number of billionaires, according to an annual report of the 1,000 richest people in the country.

One of America's wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that authorities say generated more than $25 million in illegal profits and was a wake-up call for Wall Street.

Canadian circus billionaire Guy Laliberte returned to Earth on Sunday wearing his trademark clown's red nose, landing as planned in Kazakhstan after a landmark space performance to highlight water scarcity.

James Davis, the former financial officer for Texas billionaire Sir Allen Stanford, pleads guilty to fraud and conspiracy charges.

A federal judge on Tuesday ordered Texas financier Allen Stanford, accused of a $7 billion fraud, held without bail until trial.

Billionaire R. Allen Stanford arrived at a federal courthouse  as he faces charges of fraud and conspiracy related to allegations that he swindled investors out of $7 billion.