Advertisements

This Scientist and Entrepreneur Proves You Don’t Need to Study Business to Succeed in It

Owning and running a company is no small task. It’s a difficult, stressful, never-ending process that actually gets more complex as you find success. It’s hard enough for people who specifically studied business in school. And for those who didn’t study business, the challenge is even more daunting. When so many former business students fail, it must frequently feel overwhelming for students of other disciplines.

YPO member Yi Li isn’t afraid of a challenge. A lifelong lover of science, she braved a new country and different culture when she left China to pursue her PhD in physics on a full scholarship at Louisiana State University. As she studied energy storage, battery technology and management, and charge control, she realized she had the makings of a great alternative energy company.

Li wasn’t hindered by her lack of business experience–in fact, she started her solar power company in her apartment while she was still a student. Today, Li is the president and CEO of Renogy Solar, which manufactures and sells a wide range of solar-powered products. Renogy was certified by the Women’s Business Enterprise National Council and earned a spot on the Inc. 5000 list of fastest-growing private companies. The company has also won several bronze- and gold-level awards from the Golden Bridge Awards, and was included on the Fastest-Growing Women-Owned Company list released by the Women Presidents’ Organization.

On an episode of my podcast 10 Minute Tips from the Top, Li shared her advice to non-business people starting a company:

1. Don’t be intimidated

Li didn’t have a business background, but she didn’t let that stop her from founding her own company. “I didn’t have any background or experience or education about running a business, or even financial experience or knowledge. I’d never thought about those difficulties,” she recalls. When she began, it certainly wasn’t all smooth sailing. “I definitely went through a lot of difficulties and challenges, but every time I saw challenges, I thought about my passion. I thought about my purpose.

If that’s my goal, forget about how I feel how difficult it is. Just try to find a solution,” she asserts. Li is also not afraid to admit what she doesn’t know. “If I see I lack knowledge [in a particular area], I’ll get a book or take online classes. I’m really a self-learner, so I learned all that stuff by myself,” she explains. Don’t let your own self-doubt get in the way of pursuing something great.

2. Don’t feel compelled to follow all the rules

While she acknowledges the difficulties inherent in starting a company without a business background, Li also believes there may be some benefit in not being tied to one philosophy. “You need to think outside the box,” she argues. “Don’t follow too many old-school type, book, education principles. Even if it’s a lot of good experience, it may not apply to you.” She encourages entrepreneurs to find their own path. “You can learn, but try to develop something that is unique to you,” she says.

Li believes she has a good example in Jack Ma of Alibaba. “He didn’t have all the necessary professional skills when he started the business–he was a teacher,” Li explains. “When he started the business, not everybody believed his dream. But he ignored all of the voices. If he decided to do something, he was very, very determined.” Ma and Li aren’t afraid to follow their instincts.

3. Be frugal

Li is very blunt about this: “You need to run a business frugally,” she emphasizes. The challenge, of course, is that talent can be expensive. Thankfully, she’s found a way to compensate for that. “My employees truly believe in what we’re doing,” she beams. “We’re still a startup, and we’re not paying as high compared to a lot of Fortune 500 companies,” she admits, but her company is about more than dollars and cents.

“I look for people who truly want to develop themselves, because they’re not here just for the paycheck. We instill a passion and a dream into our employees’ minds. That’s how I recruit people.”

4. Believe in it

Do what you love! It’s exactly what led Li down the path from science to entrepreneurship. “I truly want to be a scientist. I really love physics. What I studied was superconductivity and semiconductor materials. And one of my projects was related to alternative energy studies. So there I saw my passion taking form,” she fondly recalls. Whatever your calling, follow what brings you joy. “I truly believe you have to be a passionate person and do what you truly want to do,” Li states.

It doesn’t mean it will be easy. She explains, “You cannot just do this for money. You have to do this for love. Otherwise, you cannot deal with all of the obstacles you’ll face.” For Li, her mission is clear: “I really think a sustainable future is something we should all work for and fight for,” she says. Wherever your passion lies, pursue happiness.

On Fridays, Kevin explores industry trends, professional development, best practices, and other leadership topics with CEOs from around the world.

By Kevin DaumInc. 500 entrepreneur and best-selling author

Source: This Scientist and Entrepreneur Proves You Don’t Need to Study Business to Succeed in It

558K subscribers
Start Your Own Business by Writing Business Plan. How to write a successful business plan for successful startups. Step By Step – How to write a business plan an effectively for starting your own business. Watch 11 Elements of Sample Business Plan – https://www.youtube.com/watch?v=i1b0_… TOP 10 TIPS Before Starting Your OWN BUSINESS : https://youtu.be/wxyGeUkPYFM Join our Young Entrepreneurs Forum – http://www.youngentrepreneursforum.com/ #youngentrepreneursforum Do you need a business plan for successful startups in India, USA, UK & Canada. Starting an own business needs working plan which compiles some important details about product & company. Problem Solving Skills To Start a Small Business – https://www.youtube.com/watch?v=I9Ho3… #startsmallbusiness 9 Steps For Writing a Business Plan – Required Steps to Write a Business Plan for your company or service. Step 1 – Define your vision 1:16 Step 2 – Set your goals and objectives for the business 1:50 Step 3 – Define your Unique Selling Proposition 2:29 Step 4 – Know your market 3:02 Step 5 – Know your customer 3:57 Step 6 – Research the demand for your business 4:47 Step 7 – Set your marketing goals 5:52 Step 8 – Define your marketing strategy 6:38 Step 9 – Take Action! 7:20 These all Steps are very important while you are writing a business plan for starting your own business. Life of Riley by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/…) Source: http://incompetech.com/music/royalty-… Artist: http://incompetech.com/ You must have to focus on Idea, Product,Strategy,Team, Marketing and Profit while you are writing business plan for your successful stratups.

Advertisements

How Your Small Business Can Maximize Profit & Minimize Loss With a Financial Plan

As one of the most essential aspects of a business proposal, the financial plan utilizes current financial data to project long-term profits and losses for your company. As a business owner, having a strong financial plan helps you identify potential issues and discrepancies while it’s still early enough to make changes. Having a good financial plan handy also improves your odds of securing funding from banks and other investors by showing you’ve done your due diligence.

Still, first-time entrepreneurs often struggle to create these all-important documents.

Below are five components every financial plan should have, along with suggestions for collecting the necessary data to plan your business’ future.

1. Income statements

Income statements reveal revenue, expenses and profits over a given period of time. Start by making a list of all the costs and expenses associated with running your business. This may include raw materials, suppliers, employee salaries and rent costs. Then record your revenue, which is the money you receive in exchange for providing goods and services. By subtracting your expenses from total revenue, you can determine whether your company can expect to make a profit or suffer a loss.

This information is crucial not only for planning purposes, but it can also help draw potential investors to your business.

While income statements for existing businesses convey data from the past one or two years, startups must instead forecast this information based on their research. When drafting your company’s first income statements, you may need to project profits and losses using information from similar businesses in the area. The goal is to determine if your company can support itself moving forward and make budgetary changes as needed.

2. Cash flow

Cash flow projections estimate the amount of money that will be entering and exiting the business on a regular basis. Determining net cash flow requires simply subtracting cash outflow from cash inflow, which reveals only those funds that are actually available at a given time.

Just as with your income statement projections, you’ll have to create a plan of how you expect your cash to flow based on rational observations, predictions and your own research. Again, while it seems frustrating, compiling a schedule of when cash comes in and out can give you (and investors) insight into how much cash you’ll actually have available to operate your business.

By keeping accurate cash flow statements as your business matures, you can identify problem areas before they grow too large to contain. For instance, if your projections suggest you need more immediate cash, you can try strategies to help bring it in, such as turning over inventory more quickly or reducing the length of your billing cycle. However you use it, a cash flow’s primary functions are to assess your company’s financial health and help you make business-development decisions moving forward.

Another thing to keep in mind: When calculating your cash flow projection, you won’t be able to use any revenue amounts from unpaid invoices. The reason? That revenue hasn’t been collected yet and thus isn’t available to go in or out. Yes, you may be able to declare the money from unpaid invoices in your revenue projections, but not as cash on hand.

3. Balance sheet

balance sheet provides a snapshot of a company’s assetsliabilities and equity at a given time. As its name implies, a balance is struck between a company’s assets, which equal its liability added to the value of its equity.

First, take time to list all assets, including accounts receivable, savings, inventory and equipment. Next, you should detail all liabilities, such as accounts payable, loan payments and credit card balances. Lastly, you can add up the company’s equity, which may take the form of owner equity, investor shares and earnings from stocks. When you’re finished, check to make sure that the total value of assets equals that of your liabilities plus your equity.

As you may expect, your balance sheet can have a significant effect on your business’ ability to secure the funding it needs to get off the ground. Learn more about how to create a detailed balance sheet to track your startup’s liabilities and equity.

4. Break-even analysis

It’s no secret that startups rarely turn a profit at the onset. If and when your business does cross the threshold from red to black, it will have crossed the break-even point. The break-even point occurs when the expenses of running your business equal the revenue from your products and services. To increase your odds of reaching that crucial turning point, take the time to create a break-even analysis as part of your financial plan.

Along with your company’s fixed and variable costs, the document should include projected prices and account for the value of inflation. Not only does a break-even analysis show potential investors that your company has the potential to succeed, but it also enables you to make better decisions regarding resource allocation. If your break-even point is too high, you may want to consider ways to reduce your cost of business. This might include shopping for new suppliers, increasing prices or even temporarily working out of your home.

5. Financing schedule

Most of us can’t launch a new business entirely on our own. Because loans are an unfortunate fact of life in the startup world, every business plan should include a loan summary and financing schedule. Take note of the types of loans incurred, including interest rates and expected terms as well as securities information. After all, potential lenders want to know that you have a solid plan to pay off existing debts before investing more money in your business venture.

If you’re thinking of starting your own business, then you’ve probably heard the bleak statistics. According to one report, as many as eight in 10 startups fail in the first 18 months. To give your business a fighting chance, you need to have a strong financial plan in place before you launch.

By: April Maguire

Source: How your small business can maximize profit & minimize loss with a financial plan

1.37K subscribers
In this video, Kelly discusses how to maximize profits in business in just three simple steps. By taking advantage of what resources you already have within your company, you can maximize profits and grow your business. Your company can figure out how to improve sales by analyzing what your business is doing so already…and what your business is not doing. By putting these steps into action, you can figure out how to attract customers and increase profits Ask yourself: • When was the last time you last raised profits within your business? Are you getting what you want? • Is your business selling the right kinds of stock including individual packages, group packages, etc. for your services? If not, these kinds of products would bring in money that your company is not seeing already. • Are you engaging with previous customers? If not, these customers are just as important to figure out how to attract customers to your business. Want a quick overview of topics? Check out the time stamps below: 00:49 – Charge what you’re worth to grow your business 1:42 – When was the last time you raised your rates? 2:08 – Consider having reoccurring revenue to maximize profits 2:40 – Fortune is in the follow up! Make it your business growth strategy Learn how to improve your outlook on money but also create more income within your business. Not only will you learn to improve your vision of money but rethink your ideas so you can create new ones. ======================================================== THANK YOU for taking the time to watch these videos!! If you like what you’re watching, comment below to start a conversation! =================================================== To learn more about our program that teaches you how to build and scale your business to create more freedom go to: http://www.KellyRoachCoaching.com/yes ======================================================== Visit the Kelly Roach Coaching online store for products and programs to help you grow your business! http://www.kellyroachcoaching.com/shop ======================================================== **Click Below to SUBSCRIBE for More Videos** https://www.youtube.com/channel/UCwyA… ======================================================== Kelly Roach Business Growth Strategist, Rapid Business Growth Coach, Author, Host of Unstoppable Success Radio http://www.KellyRoachCoaching.com ======================================================== Join the conversation: Facebook: http://www.facebook.com/kellyroachint… Twitter: http://www.twitter.com/kellyroachint YouTube: http://www.youtube.com/kellyroach ====================================================== To learn more about how to grow your business and how to increase sales, watch Kelly’s “How to improve your Money Mindset” video at https://youtu.be/1mo_Fvrgpw4

 

How Do You Build a Customer Base? Follow These Steps

Many factors will determine how good a story is. Some variables are beyond your control, such as how forthcoming your subject will be, or what (maybe dumb) headline your editor will write. But the factor you can control is how much research you conduct, the questions you ask, and the follow-ups that help you find the information that really matters.

Related: What Work Should You Outsource?

I used to joke that writing was a two-part job. First, you have to be a miner, doing the grunt work. If you want gold or diamonds, you’d better be willing to dig deep in your reporting. The second part — writing — gets all the glory, but it’s really just polishing. If you’ve already found a beautiful diamond, it’s hard to mess it up.

Growing an audience is no different. You want to tell your brand story, but before you start polishing your marketing campaigns, you need to go mining: Ask your audience so many questions that you know them inside and out.

Connecting with an audience is harder than ever because of all the noise on social media and other platforms. In order to thrive in today’s digital environment, you need to have a deep understanding of what “job” your potential customers will pay you to do. In order to get that, you must speak to people directly.

Surveys and form questions are not enough; in-person conversations allow you to gather insights by reacting to people’s responses, hearing their tone of voice, and recognizing when there is more information hiding within a shallow answer.

But most people skip this part of the marketing process because it’s time-consuming. Even if they do it, they’re not always productive. The majority of market-research interviews consist of asking customers why they bought your product or service.

But this is a mistake. People will unknowingly tell you what they think you want to hear, oftentimes repeating your marketing back to you. Moreover, they won’t be able to articulate why they feel this way — so they’ll simply invent a reason.

Related: How Much Should You Spend on Social Media Marketing?

To work around these human habits, there’s a technique called jobs to be done (JTBD), which requires you to interview potential customers in order to truly understand their needs and wants. Not everyone can do JTBD; it takes someone who is skilled in both the process of leading the interview and in drawing conclusions and providing direction for your business.

Years ago, at my consulting company, I hired the best JTBD expert I knew, and I’ve never looked back. (You can also pay for courses and learn the method yourself.) Instead of just considering the functions that people want from a product or service, JTBD digs into the multifaceted nature of decision-making.

That’s what makes it more powerful than data — it helps you understand consumers’ social and emotional drivers and paints a complete picture of what “job” people want from you.

Related: How to Make Smart Hires on a Tight Budget

Once you understand your job — and your core customers — the path forward gets easier. You’re finally in a position to polish: create effective ads, engage with platforms where you’re most likely to find additional consumers, and present them with incentives and pricing that will appeal and convert.

Growth is no longer about wondering if you know what you should do. It’s simply about how well you can execute on your plan.

Related:

How Do You Build a Customer Base? Follow These Steps.

How to Create an Online Course for an Engaged Audience

10 Prominent Women Education Leaders Share Steps to Improve the U.S. Education System

By: Adam Bornstein

Source: How Do You Build a Customer Base? Follow These Steps.

943K subscribers
Follow the Golden Rule: Treat others the way you would like to be treated. Focus on attracting your customers and spending time holding on to them. Watch this video for specific examples. Remember, there is nothing more important than a happy customer. What is the one thing you can do immediately to make your customers happier than anyone else? Download my free leadership questionnaire to get clarity on every area of your business here: http://ow.ly/LUIww

The Secret History Of The Hope Diamond: How Pierre Cartier Sold A Cursed Jewel

As ever more prestigious clients rolled into his New York boutique at the turn of the 20th Century, Pierre Cartier [grandson of Louis-Francois Cartier, founder of the eponymous jewelry brand] was insistent that the firm remain true to its original aim: “We must never lose our current reputation; in other words, we must sell only large jewels.”

It was with this in mind that, in 1910, he invested in a gemstone so large and important that it represented an enormous risk. If he couldn’t sell it, Cartier would be left with a dent in its cash flow that could severely hamper the entire firm. And yet Pierre was in no doubt that it was a risk worth taking. As he had discovered in America, the fame and size of one’s diamond was everything.

Sometimes jewels carry a story with them that impacts all their owners. The notoriously cursed 45-carat blue Hope Diamond, once known as the Tavernier Blue, was one of these. Since its discovery in the Kollur mine in seventeenth-century India by Jean-Baptiste Tavernier, a French gem merchant, many of those who had owned or even been close to the stone were said to have suffered terrible fates. [Its uplifting name is derived from the London banking family that owned the gem in the 1830s.]

If you were to believe the stories, the horrific endings linked to it included being torn apart by wild dogs in Constantinople, being shot onstage and, in the case of Marie Antoinette and Louis XVI (who had enjoyed the diamond as part of the French crown jewels), famously being beheaded during the French Revolution.

Several months after Pierre opened Cartier’s New York branch, the company bought the Hope Diamond in Paris. The gemstone had changed hands several times in the preceding few months. From Simon Frankel, a diamond dealer in New York, it had passed to a collector in Turkey (reportedly on behalf of Sultan Hamid of the Ottoman Empire before he was deposed), and then on to the French dealer Rosenau, from whom Cartier acquired it for 500,000 francs (around $2.2 million today).

Though the gem was magnificent, it was not easy to locate a client who was wealthy enough to afford it, fanatical enough about diamonds to need a large blue one, and brave enough to disregard the curse. Frankel, for example, hadn’t been able to find a buyer for seven years, after which time his finances were in such a dire strait that he was forced to sell it at a distressed price.

This was where Cartier, with its multiple branches and increasingly impressive global client list, started to come into its own. Pierre and his brothers, Jacques and Louis, could be hot on the buying scene in Paris, where so many of the best gemstones came to market, while simultaneously discreetly spreading the word of their new purchase overseas. They were well aware that an American heiress would relish the idea of parading a unique jewel from the chic French capital in front of her peers back home.

In the case of the Hope Diamond, the brothers were confident enough of selling it that they were not to be deterred by the 1908 warnings in the press: “There are those who say [diamond dealers] will never regain their old position of supremacy in their trade as long as the Hope Diamond remains in their ownership.” In fact, far from being put off by the curse, Pierre believed the gemstone’s notoriety could act in his favor. He even had a client in mind who he suspected would be enticed by it.

The American heiress Evalyn Walsh McLean couldn’t get enough of jewels. She was inordinately rich, thanks to her father, who had literally struck gold with one of the largest gold mines in America. In 1908, at the age of twenty-two, Evalyn married nineteen-year-old Ned McLean of the well-known Washington Post family. The young couple, it was widely reported, had far more money than sense.

“It is no use to anyone to chide me for loving jewels. I cannot help it if I have a passion for them,” Evalyn admitted. “They make me feel comfortable, and even happy. The truth is, when I neglect to wear jewels, astute members of my family call in doctors because it is a sign I’m becoming ill.”

Evalyn had previously crossed paths with the Cartiers in 1908 when she was on her honeymoon in Paris. Two years later, when Evalyn and Ned were back in the French capital, Pierre made an appointment to meet them in their hotel. Understanding from their previous purchases that the jewelry they sought out was large and significant, he was hopeful they would fall on the Hope Diamond like hungry wolves. “His manner was exquisitely mysterious,” Evalyn remembered, as he placed an intriguing-looking package sealed with wax seals before them.

Pierre retraced the gemstone’s famous history for his captive audience, from its prominent place among the French crown jewels for more than a century, to a London lord and a Turkish sultan, and now all the way to their very hotel room in Paris. By the time he unveiled the gemstone, he had them on the edge of their seats. Unfortunately, though, it wasn’t enough. Whether it was because the young couple weren’t keen on the setting, or they had misgivings about the curse, or they had simply run out of that kind of spending money by the end of their trip that year, Evalyn and Ned left empty-handed.

Disappointed but determined his instincts were right about the McLeans being the perfect clients for the Hope, Pierre moved on to Plan B. He shipped the gemstone to America and changed the setting to an oval frame of smaller diamonds that enhanced the large blue Hope in the center. He again showed it to Evalyn, who, though more interested this time around, was still not convinced. Knowing his client’s weakness for gems, Pierre proposed that she hold on to the necklace for a few days, suspecting that once she had it in her possession, it would be almost impossible for her to return it.

She was used to getting things, not to giving them back. Evalyn took the bait and that evening, before she went to bed, she placed the diamond on her dresser. “For hours, that jewel stared at me, and at some time during the night I began to really want the thing. Then I put the chain around my neck and hooked my life to its destiny for good or evil.”

The next day, Pierre received word that the McLeans would buy the Hope. The price was $180,000 (about $5 million today), of which the first installment was to be $40,000.

The Cartiers were relieved: Having large gemstones in stock played havoc with the firm’s cash flow until they were sold. But as with many privileged clients, the sale process wasn’t as straightforward as it might have been. Several weeks after the agreed contract had been signed and the McLeans had taken possession of the gemstone, Pierre hadn’t yet received a cent in payment.

At his clients’ request, he had even put a clause into the contract to assuage their worst curse-related fears (the “customer’s privilege to exchange goods in case of fatality”), but still Evalyn procrastinated. At one stage, she tried sending the Hope back to Cartier. Pierre refused to stand for it and the necklace was returned to its owner along with a repeat demand for payment. By March 1911, two months after the sale had been agreed upon, Pierre was so frustrated by his clients’ endless delaying tactics that a series of exchanges with Louis in Paris led the brothers to file a legal suit against the McLeans.

Finally realizing that there was no legal way out of the deal, Evalyn changed tack and decided that if she was going to buy the gemstone, she should at least take it to church for a blessing. She wasn’t sure she believed in the curse, but May Yohe, the ex-wife of Thomas Hope and a previous wearer of the diamond, had publicly warned her against it in a March 1911 newspaper article, and she couldn’t help but be spooked.

The blessing took place in the church of Russel Monseigneur. The diamond was awaiting its blessing on a velvet cushion, when seemingly on cue, lightning flashed and thunder shook the building. Many might have taken this as a sign to back away, but not Evalyn. “Ever since that day,” she would later declare, “I’ve worn my diamond as a charm.” The sale was finally concluded in early 1912, with the McLeans trading in the emerald from the Star of the East pendant they had bought a couple of years earlier to help pay for the Hope.

Financially speaking, the sale of the Hope wasn’t a positive for Cartier. After all the legal fees, the firm ended up taking a loss. The board meeting minutes noted, “Upon examining our legal expenses . . . we have decided to be more strict. In future, we will have to think very carefully before taking legal advice.

We will avoid it as much as possible.” And yet there was no question in Pierre’s mind that it had been worth it. Through this single transaction, Cartier became a household name in New York. After all, who wasn’t secretly fascinated by the exploits of the opulent and profligate McLeans? Add to that the idea of a mysterious curse, and the gossip columns had struck gold. The Cartiers may have shied away from taking out advertisements in the early years (Louis particularly felt they were beneath a great jewelry maison favored by royalty), but they were more than happy to have their name spread by the press alongside pictures or social updates of their famous clients.

And Evalyn McLean, who loved the stone’s notoriety, never missed an opportunity to flaunt the spectacular Hope. She tied the diamond around the neck of her Great Dane dog, Mike, or held lavish garden parties where she hid it in the bushes and insisted the guests join in her favorite game: Find the Hope.

Evalyn held on to the diamond for the rest of her life, and though she never believed in the curse, she suffered a fair amount of bad luck over the years. Her husband, Ned, ran off with another woman and later died in a mental institution; their family paper, The Washington Post, went bankrupt; her son was killed in a car accident; and her daughter died of a drug overdose.

And for a brief moment during the Depression, she was forced to pawn the Hope Diamond for $37,500 in a last-minute attempt to prevent a house foreclosure. On the day she had arranged to reclaim it, she took the train from Washington to New York and turned up at William Simpson’s pawnshop entirely alone. No bodyguard for her, in fact not even a bag:

She stuffed the diamond, along with a few other precious stones she was picking up, into her dress and set off uptown to meet some friends. After lingering too long over lunch, she rushed to catch her train, running “through the station so fast I thought I would be shaking the stones out of my bosom at every step.” A far cry from the high security of the Smithsonian Institution, where the Hope sits safely on a turntable within a glass cabinet today, attracting more than seven million visitors a year and currently estimated to be worth around $350 million.

• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

From the book The Cartiers: The Untold Story of the Family Behind the Jewelry Empire by Francesca Cartier Brickell. Copyright © 2019 by Francesca Cartier Brickell. Published by Ballantine Books, an imprint of Random House, a division of Penguin Random House LLC. All rights reserved.

Francesca Cartier Brickell is a direct descendant of the Cartier family. Her great-great-great-grandfather founded the world-famous firm in 1847. A graduate of Oxford University, she is a sought-after international lecturer on Cartier’s illustrious history and has given talks for major auction houses, museums, and societies. This book is the result of years of the author’s independent research into her family and the business they founded.

Get Forbes’ daily top headlines straight to your inbox for news on the world’s most important entrepreneurs and superstars, expert career advice, and success secrets.

Source: The Secret History Of The Hope Diamond: How Pierre Cartier Sold A Cursed Jewel

32.1M subscribers
The gemstone, which is now called the Hope Diamond, was formed deep within the Earth more than 1 billion years ago! It was originally used as one of the decorations of an Indian temple idol. But one day a Hindu priest decided it was far too beautiful and valuable to leave there and plucked it out. He was severely punished, of course, but the Hope Diamond was already out of the temple. “The King’s jewel,” “The blue of France” – these are some nicknames for the most mysterious and seemingly dangerous gem in history. The selected few who were “lucky” enough to possess the famous Hope Diamond died horrific deaths. But in the beginning, nobody could foresee the trouble… Other videos you might like: 3 Unbelievable Coincidences That Will Leave You Confused https://www.youtube.com/watch?v=Lz9OS… If You See a Coin In Your Car Door Handle, Run And Call the Police! https://www.youtube.com/watch?v=WShss… Only a Genius Or a Person With a Mental Illness Can Answer This https://www.youtube.com/watch?v=OVgHM… TIMESTAMPS: From a temple to King 0:23 Evil curse: what happened to King Louis XIV 1:25 The diamond gets to England 2:37 … and changes owners all the time 3:23 Tragedies of McLean family 4:48 Where is the diamond now? 6:16 How many people it “killed” 7:27 #hopediamond #largestdiamonds #gemstones Music by Epidemic Sound https://www.epidemicsound.com/ SUMMARY: – Some say that Tavernier stole the diamond from the previous owner, while others are sure he bought it. Rumor also has it that Tavernier had a serious raging fever not long after he got the marvelous Hope Diamond. – The Hope Diamond curse got to King Louis XIV as well – he died suffering of gangrene. Moreover, all but one of his children didn’t make it passed their childhood, though it wasn’t that uncommon those days. – Both Louis XVI and Marie Antoinette were executed by guillotine during the French revolution. The Hope Diamond was stolen from the Royal Storehouse shortly after. – A couple of years passed and the diamond was suddenly discovered in England. Well how did it get there? Several sources confirmed that it was actually owned by King George IV of the United Kingdom. – Evalyn Walsh McLean absolutely adored the Hope Diamond and wore it almost every single day. But the happiness didn’t last long. First, Evalyn’s mother-in-law died. Then her 9-year-old son was in a car accident, and didn’t make it. This broke her and her husband so much that he actually left for another woman and later died in a mental hospital. – Now the Hope Diamond weighs a little bit over 45 carats, still has its deep greyish-blue color, and even produces a dangerous red glow if you decide to expose it to short-wave ultraviolet light. – Despite the diamond’s rich history, there are still heated debates as to whether it’s actually cursed or not. Some people are sure that all the legends about the jewel’s cursed origins were simply created to boost its popularity. – In 1911, the New York Times came out with a whole list of the diamond’s supposed “victims.” The list consisted of about 14 people who died tragic deaths not long after possessing or even holding the Hope Diamond. Subscribe to Bright Side : https://goo.gl/rQTJZz —————————————————————————————- Our Social Media: Facebook: https://www.facebook.com/brightside/ Instagram: https://www.instagram.com/brightgram/ 5-Minute Crafts Youtube: https://www.goo.gl/8JVmuC Photos: https://www.depositphotos.com East News —————————————————————————————- For more videos and articles visit: http://www.brightside.me/

Man Loses Home After Failing To Pay $8.41 In Property Taxes

$8.41. That was how much 83-year-old Uri Rafaeli, a retired engineer, in Michigan underpaid his property taxes by in 2014. That was all it took for him to lose his house.

Rafaeli bought a 1,500-square-foot Southfield home in 2011. He paid $60,000 for the property, and the deed was recorded by the Oakland County Register of Deeds on January 6, 2012. He put additional money into the home, too, as he intended to use the rental income from the property to fund his retirement.

Rafaeli believed that he was paying his property taxes on time and in full, but in 2012, he received notice that he had underpaid his 2011 tax bill by $496. He paid up in 2013 but made a mistake figuring the interest (interest also accrued while his check was in the mail): He was short by $8.41.

In response, Oakland County seized his property and put it up for sale. The home netted just $24,500 at auction; according to Zillow, the property is now estimated to be worth nearly $130,000.

The County kept the overage from the auction: $24,215 in profits, or 8,496% of the actual tax, penalties, and interest due (the debt had grown to $285 with penalties, interest, and fees).

It was all legal.

Under Act 123 of 1999, Michigan allows its county treasurers a great deal of authority to handle unpaid taxes, including rushing the tax foreclosure process. Under the Act, the property is considered delinquent if taxes aren’t paid in the previous year. If the outstanding taxes, fees and penalties remain unpaid after two years, the County can foreclose on the property; that’s much more quickly than before, when the average timeframe to move a foreclosure was five to seven years. Shortly after foreclosure, the former owner loses the right to buy back the property, and the County becomes the owner. At sale, the funds belong to the County. There’s no requirement to refund any of the proceeds to the owner even if the overage far exceeds the amount owed.

Rafaeli—and his lawyers—think that’s wrong. They took the matter to the U.S. District Court for the Eastern District of Michigan. The court found that Rafaeli—and a similarly situated plaintiff—suffered “a manifest injustice that should find redress under the law” but dismissed the claim for lack of jurisdiction.

Rafaeli tried again. He didn’t argue that he didn’t owe tax, penalties, interest and fees. But he did object to the County taking the excess. The County argued that Rafaeli had no rights to the equity because the General Property Tax Act does not expressly protect it. And that’s the reason that Rafaeli keeps losing: The courts have sympathy for his plight but have found that the law does not prevent the County from keeping it.

He’s not alone. Tens of thousands of properties in Detroit have been subject to the same kind of treatment. Many of those who owe taxes understand that they have a debt, but they don’t necessarily understand how to navigate the process or what the failure to pay on time can mean. As with Rafaeli, even something as simple as miscalculating the interest due, can have serious consequences.

Today, Rafaeli is represented by the Pacific Legal Foundation (PLF). PLF was founded in 1973 by members of then-governor Ronald Reagan’s staff as the first public interest law firm dedicated to the principles of individual rights and limited government. PLF is taking the case to the Michigan Supreme Court, arguing that keeping the funds is an unjust taking. If he wins, Rafaeli—and other landowners in similar situations—may be entitled to compensation.

According to PLF, the entire process, as it is happening now, is nothing more than government-sanctioned theft. “Predatory government foreclosure particularly threatens the elderly, sick, and people in economic distress,” PLF argued on its website. “It could happen to your grandparents. It could happen to you.”

Follow me on Twitter or LinkedIn. Check out my website.

Years ago, I found myself sitting in law school in Moot Court wearing an oversized itchy blue suit. It was a horrible experience. In a desperate attempt to avoid anything like that in the future, I enrolled in a tax course. I loved it. I signed up for another. Before I knew it, in addition to my JD, I earned an LL.M Taxation. While at law school, I interned at the estates attorney division of the IRS. At IRS, I participated in the review and audit of federal estate tax returns. At one such audit, opposing counsel read my report, looked at his file and said, “Gentlemen, she’s exactly right.” I nearly fainted. It was a short jump from there to practicing, teaching, writing and breathing tax. Just like that, Taxgirl® was born.

Source: Man Loses Home After Failing To Pay $8.41 In Property Taxes

64 subscribers
A short video explaining your property taxes and the role of the Assessor’s Office.

Bitcoin: Why You Need It

Most people know little about Bitcoin. It’s a brand, like the internet was in the late 1990s that created great excitement in a small fanatical audience but confusion, indifference and often hostility in the mainstream and establishment.

“I don’t need email,” people said, while many would look blank and not know what it was. It wasn’t until the social media floodgates opened that the mainstream piled in. Now all the marvelous benefits and distractions of being connected are taken as read.

The benefits of crypto are not well understood or even considered beyond the possibility of a life change rising in value for coins that an investor might ride to riches. This may well be the future for Bitcoin so to start a list of reasons why you should hold some Bitcoin must start with:

1)  A lottery ticket to a ride that some see having a 1,000% upside.

It could happen. There are only going to be 21 million bitcoins (BTC), many of which like Roman gold coins are already lost forever. If bitcoin was to be worth just half of the gold in the world it would be  about $200,000 a coin. If all the BTC was worth $1 trillion then the price would be north of $50,000.

Today In: Money

With BTC currently at $7,400 and the ability for people to buy tiny amounts, there is a fun dividend in actually holding.

2) Blockchain is “the next big thing.”

If you want to catch that wave when it lands, you need to know a bit about it. Buying crazes on the basis of zero knowledge is the short cut to the poorhouse. Owning bitcoin and going through all the stages to “get” crypto will position you perfectly for the day “crypto IPO” hits. That day will come and it will be big. Owning bitcoin will position you to take advantage of that boom.

3) Portfolio diversification is crucial.

Everyone should have a little gold, for example, to buffer the roller coaster of other financial instruments. Bitcoin and gold are very similar in as much as they are havens. “Physical” bitcoin however is easier to store, faster to sell and has much greater upside if you are laying in assets for what you see as being extremely volatile times in the future. If you are not in the “bullets and corn beef” legion, the gold, silver and bitcoin are must haves, with bitcoin the king if you feel you might have to jump on a plane to safety. It’s easy to travel with bitcoin; with gold bars and sacks of silver, not so much.

4) Bitcoin is currently a great hedge especially for equities.

This is because for now at least, bad news for equities is good news for bitcoin. That bad news is currently the China trade war. The trade war is bad for equities and there is a clear link to moves in BTC and emergent good/bad news on the trade negotiations. Bitcoin sends the signal then the news appears, which one would imagine is because of the insider news flow in crypto-hungry China.

5) Bitcoin is useful money.

You can buy things with bitcoin, and with bitcoin debit cards you can use it to buy things anywhere that takes Visa/Mastercard. While this can prove expensive, a bitcoin debit card is another off ramp for holders wishing to spend their profits. Bitcoin is also a useful currency for B2B and while currently niche, bitcoin use for international payments is quickly expanding when products need to be bought quickly and the vendor needs to establish transfer of funds fast to cut out delays. For large sums bitcoin beats credit cards hands down as a bitcoin transaction can’t be reversed unlike a credit card payment that is always vulnerable to charge backs. Transfers can take days to materialize, so for anything that’s a “rush job” bitcoin is the best possible way to pay if the vendor takes BTC.

Every investor should buy some bitcoin, even if it’s just $1. It is always best to be too early to a financial phenomenon than too late and it turns out the bitcoin story is still in its early chapters.

If you are an investor, it was obvious you need to hold equities, bonds, gold and cash. That is still true but these days, you need to hold a little crypto, because it is a new positive sum financial instrument. If you don’t have Bitcoin, the world won’t end, but you will be less diversified and more at risk than an investor that does hold some. Bitcoin will continue to be the ‘kingpin’ of the emergent blockchain industry and everybody needs a little bit of exposure to that in the same way as they needed a little Amazon in 2002.

Forbes CryptoAsset & Blockchain Advisor cuts through the hype and identifies real investor opportunities in the emerging world of blockchain and crypto assets. Click to learn more.

Clem Chambers is the CEO of private investors website ADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginner’s Guide.

In 2018, Chambers won Journalist of the Year in the Business Market Commentary category in the State Street UK Institutional Press Awards.

Follow me on Twitter. Check out my website.

I am the CEO of stocks and investment website ADVFN . As well as running Europe and South America’s leading financial market website I am a prolific financial writer. I wrote a stock column for WIRED – which described me as a ‘Market Maven’ – and am a regular columnist for numerous financial publications around the world. I have written for titles including: Working Money, Active Trader, SFO and Technical Analysis of Stocks & Commodities in the US and have written for pretty much every UK national newspaper. In the last few years I have become a financial thriller writer and have just had my first non-fiction title published: 101 ways to pick stock market winners. Find me here on US Amazon. You’ll also see me regularly on CNBC, CNN, SKY, Business News Network and the BBC giving my take on the markets.

Source: Bitcoin: Why You Need It

7.48K subscribers
Thanks for watching! For donations: Bitcoin – 1CpGMM8Ag8gNYL3FffusVqEBUvHyYenTP8

Apple, Google, Nike And Other Big Stocks Just Hit All-Time Highs. Here’s Why

Topline: Wall Street cheered the release of November’s blockbuster jobs report on Friday, helping the market recover its trade-war-related losses from earlier in the week and putting a number of major stocks at new all-time highs.

Here are the major companies hitting new records:

  • Technology giant Apple hit a new record stock price on Friday, currently near $270 per share, after Citigroup boosted the company’s upside price target by 20% yesterday, predicting blockbuster holiday sales for products like Airpods and the Apple Watch.
  • Another of the big four tech companies, Google, also reached a new all-time high, trading near $1,342 per share. The company’s stock went higher after cofounders Larry Page and Sergey Brin stepped down from their leadership roles earlier this week, giving Google CEO Sundar Pichai the top job at parent company Alphabet.
  • Big financial services companies hit new record prices too, boosted by Wall Street’s big rally on Friday: JPMorgan Chase shares passed the $135 mark, just a few months after a third-quarter earnings report that saw record revenue, while U.S. Bancorp, one of Warren Buffett’s biggest holdings, traded above $60 per share.
  • Upscale furniture chain Restoration Hardware, which recently got a $206 million investment from Warren Buffett, achieved new highs of around $242 per share, following a successful third-quarter earnings beat that exceeded Wall Street expectations.
  • Shares of yoga pants maker Lululemon Athletica, which has led the popular athleisure apparel trend in recent years, hit a new record high of more than $232 per share on Friday. Lululemon’s stock continued a surging run this year (up more than 85% so far in 2019), as the retailer looks to expand into areas like menswear, e-commerce and international sales.
  • Nike, the world’s most dominant athletic footwear and apparel brand, also hit an all-time high price on Friday. The stock traded above $97 per share, thanks to a recent price target upgrade from Goldman Sachs analysts, who see a 20% upside as the retailer continues to be wildly popular with consumers and expands into growing markets like China.

Key background: Despite ongoing trade uncertainty, the stock market ended the first week of December back near record highs. Solid economic data, namely a blockbuster November jobs report that far exceeded analyst expectations, drove the big Wall Street rally on Friday. Recession fears have cooled recently, as economic indicators like consumer spending and holiday sales remain solid as well.

Crucial quote: “A killer jobs report put to rest concerns that the U.S. economy was starting to show signs of slowing down,” says Edward Moya, senior market analyst at Oanda.

Today In: Money

What to watch for: Trade news—it’s anyone’s guess at this point, with the crucial December 15 deadline for additional U.S. tariffs on $156 billion worth of Chinese goods fast approaching. If Trump imposes tariffs, which China has asked to be canceled as part of a phase one trade deal, that could heat up tensions and threaten the stock market’s year-end run.

The Trump administration has spent months going back and forth with China on trade negotiations, with tensions constantly escalating and de-escalating. With both sides yet to sign a phase one trade deal, Trump’s recent approval of U.S. legislation on Hong Kong further “stalled” trade progress, according to Axios. That could make it more likely that Trump will hold off on planned December tariffs to keep the deal alive.

Follow me on Twitter or LinkedIn. Send me a secure tip.

I am a New York—based reporter for Forbes, covering breaking news—with a focus on financial topics. Previously, I’ve reported at Money Magazine, The Villager NYC, and The East Hampton Star. I graduated from the University of St Andrews in 2018, majoring in International Relations and Modern History. Follow me on Twitter @skleb1234 or email me at sklebnikov@forbes.com

Source: Apple, Google, Nike And Other Big Stocks Just Hit All-Time Highs. Here’s Why.

312K subscribers
Apple is getting a vote of confidence from Raymond James as it raised its price target to $280 from $250 per share. In response, shares of the tech giant hit a new all-time high and could add more gains by the end of the year.

Google’s New Chrome Move: Another Reason To Switch To Firefox?

Google’s Chrome browser has come under increasing scrutiny lately, especially after its Manifest V3 plans announced earlier this year which cause some ad blockers to break.

Now privacy advocates are honing in on a nascent web API called getInstalledRelatedApps, which has been in development since 2015 and available to experiment with since Chrome 59’s launch in 2017.

Described on GitHub, the API lets developers determine if their native app is installed on your device.

Of course, there are benefits that will improve the experience when people have multiple apps from the same developer installed on their device. It will prevent potentially annoying consequences such as receiving the same notification twice.

So what’s the problem? As an article on highly-esteemed tech site The Register points out, the purpose of this API “isn’t really about users so much as web and app publishers.”

In fact, if it isn’t handled properly, it could be a major risk to people’s security and privacy. “If done incorrectly, there’s a good chance of it being open to abuse–and with that come some pretty significant privacy and security related issues,” says security researcher Sean Wright.

Google Chrome privacy: Identifying factors

The privacy issue stems from the fact that the API would allow sites to potentially see which apps you have installed on your device. “Seeing what you have installed allows them to form a picture of what you do,” says Wright.

At the same time, it could impact your security: “Knowing which apps are installed can help attackers perform targeted phishing or to target apps with known vulnerabilities,” Wright warns.

It looks like Google will officially support this API in a future version of Chrome, according to a statement of intent posted by Google engineer Rayan Kanso at the end of November. In the post, he conceded that it would not help Chrome users directly although said it “indirectly benefits them through improved web experiences.”

Google is aware that its new move could have consequences. This week, Google engineer Yoav Weiss expressed concerns, highlighting the API’s risks. He pointed out that “the collection of bits of answers” to “Is app X installed” could reveal enough about a user to uniquely identify them.

I have reached out to Google for further comment and will update this story when it arrives.

A risk to Google Chrome users’ security and privacy: What to do

As the Register’s Thomas Claburn states, it shows “how user concerns, like privacy, don’t necessarily drive how software gets made.”

Indeed, concerns such as security and privacy often take a back seat, right behind functionality. “There has to be a balance, but unfortunately this often seems tipped in favor of functionality,” says Wright. “It’s putting the company before users. This really frustrates me because without your users, there would be no company.”

Sound familiar? That’s because it is. Increasingly often, users are being overlooked when they really should be at the heart of every product.

But there is something you can do. The only way to fight back against changes that impact privacy is to look for alternatives that do not affect you in the same way.

Many companies are hitting back against the likes of Google and Facebook, by providing services that respect their users’ privacy and security. Firefox is currently the browser of choice for those who are concerned, and many Chrome users have already moved over.

At the same time, smaller browsers such as Brave are quickly gaining a strong reputation, so it might be a good time to try something new.

Follow me on Twitter.

I’m a freelance cybersecurity journalist with over a decade’s experience reporting on the issues impacting users, businesses and the public sector. My interests within cybersecurity include critical national infrastructure, cyber warfare, application security and data misuse. I’m a keen advocate for women in security and strive to raise awareness of the gender imbalance through my writing.

Source: Google’s New Chrome Move: Another Reason To Switch To Firefox?

190 subscribers
Firefox Quantum has some great feature, but is it a a chrome killer? Today we’ll find that out. NEW VIDEOS EVERY SATURDAYS!!! Subscribe ➤ https://www.youtube.com/channel/UCXZq… Also follow my Twitter: https://twitter.com/AfroFlew Mozilla has released a completely overhauled version of Firefox, called Firefox Quantum, which is claims is faster than Chrome. I’ve been using it for a week, and overall really like it. But I might not be quite ready to switch completely for a few reasons I discuss in this video. Some of the best features are that it is indeed very fast, and at least seems to be faster than chrome. It also has some neat features such as a built in screenshot ability. Firefox Quantum also has support for more scripting frameworks such as WebAssembly, and WebVR. It is much faster than previous versions of Firefox, which was starting to get to be a slow web browser. Part of the improvement is Firefox Quantum now allows more CPU cores to be used simultaneously. In the video I discuss all the other pros and cons of Firefox Quantum compared to Google Chrome. What is Firefox: Mozilla Firefox is a free and open-source web browser developed by The Mozilla Foundation and its subsidiary, Mozilla Corporation. Firefox is available for Windows, macOS, Linux, BSD, illumos and Solaris operating systems. Its sibling, Firefox for Android, is also available.

Sad: Air France Quietly Retires First A380

1.jpg

 

It’s another sad milestone for the Airbus A380, which hardly comes as a surprise, though…

Air France Retires First A380

Yesterday morning Air France quietly retired their very first Airbus A380, as they flew the plane from Paris to Malta, just shortly after it landed from Johannesburg. This plane had the registration code F-HPJB.

This makes Air France only the second airline in the world to retire the A380, after Singapore Airlines. So far a Singapore Airlines A380 has been scrapped, while another was taken over by Portuguese leasing company Hi-Fly (though seemingly not with much success).

The first Air France A380 to be retired was leased from Dr. Peters Group (the same company that leased Singapore Airlines their A380s), so the plane will now be stripped of the Air France livery, and then we’ll see what happens to it after that.

Air France’s A380 Retirement Plans

Unfortunately A380 production is ending in 2021, as over time we’ve learned that Emirates is the only airline delighted with the plane (and they claim other airlines just don’t use the plane correctly).

Over the summer Air France made the decision to retire all of their Airbus A380s by 2022. The airline has 10 of these planes in their fleet. This will make Air France the first airline in the world to retire their entire fleet of A380s.

Previously the airline had planned on phasing out some of their A380s in the next few years, but also keeping some after a refresh. They ultimately decided against this plan.

Why Did Air France Decide To Retire A380s?

What ultimately caused Air France to retire their A380s? Air France management explained that the current competitive environment limits the markets where A380s can be profitably flown, especially when you have smaller and more fuel efficient planes.

Beyond that, though:

  • Air France’s A380s have woefully outdated hard products, and refreshing the interiors of the A380s would cost somewhere around 45 million EUR per frame
  • Air France’s A380s have horrible dispatch reliability, meaning that flights with the A380s are often significantly delayed, or even canceled

Bottom Line

Air France will be retiring all 10 of their A380s in the next three years, with the first one having already been retired. It’s a sad development for what was once thought  to be the future of aviation. At the same time, given how Air France configured these planes, I can’t say it’s much of a loss.

About Ben (Lucky)
Ben Schlappig (aka Lucky) is a travel consultant, blogger, and avid points collector. He travels about 400,000 miles a year, primarily using miles and points to enhance his first class experiences. He chronicles his adventures, along with industry news, here at One Mile at a Time.

Source: https://onemileatatime.com/air-france-retires-a380/

250K subscribers

SUBSCRIBE
The first Airbus A380 with Air France has been retired. In today’s video, I take a look at the reasoning as to why and what the future holds for these Airbus A380s potentially! Social Media Instagram: https://www.instagram.com/djsaviation/ Personal Instagram: https://www.instagram.com/mrdanielfow… Twitter: https://twitter.com/DjsAviation Support the Channel Merchandise: https://teespring.com/stores/djs-avia… Patreon: https://www.patreon.com/djsaviation Check out my Flight History! Flight History: https://my.flightradar24.com/DjsAviation Business Opportunities / Enquiries Email: contactdjsaviation@gmail.com Thanks to my Business Class and First Class Patrons Garrick Kwan, Big T, Anonymous, JurgenBelgium, Anonymous, Pattmat2, Julz, Anonymous, Robert Goldwein, Ian, CGE694, David S, Anonymous, Adrian, Joshua Moazami, JP, Jam, BKB, 747forever, SALMAN, Daniel Schmith, SB, James H, Stephie, Anonymous, Mike Chau, T-Pro, Pilotnick, Ryan, Martijnfgh, 747 king, A M Industrial (London), Somin, Necky16, Kristján Submit Video Ideas: http://bit.ly/DjsAviationIdeas Sources / Information / Images / More https://creativecommons.org/licenses/… Licensed under CC-BY-SA 2.0 • Airbus Broadcasting Room • https://www.flightglobal.com/news/art… • Anna Zvereva – https://commons.wikimedia.org/wiki/Fi… Outro Track: Krys Talk – Fly Away [NCS Release] Music provided by NoCopyrightSounds. Watch: https://www.youtube.com/watch?v=LfDfb… Free Download / Stream http://ncs.io/flyaway Intro & Outro Creator: https://www.instagram.com/swawif/ Remembering 99carnot “Soaring to New Heights” – © Dj’s Aviation 2019

Elon Musk Buys Out the Neighbors

1.jpg

Elon Musk, the high-profile billionaire who has placed bold bets on driverless cars and space flights, is known for his over-the-top antics: He appeared in a Los Angeles court earlier this week, telling a jury that a Twitter message he sent suggesting a Thai cave rescuer was a pedophile wasn’t meant to connote the word’s dictionary definition and was in response to what he viewed as an unprovoked attack.

But when it comes to his personal real estate, Mr. Musk uses the same strategy adopted by a number of the mega-wealthy: buy up the neighborhood.

Over the last seven years, Mr. Musk and limited-liability companies tied to him have amassed a cluster of six houses on two streets in the “lower” and “mid” areas of the Bel-Air neighborhood of Los Angeles, a celebrity-filled, leafy enclave near the Hotel Bel-Air.

Those buys—plus a grand, 100-year-old estate in Northern California near the headquarters of Tesla, the electric car concern he heads—means Mr. Musk or LLCs with ties to him have spent around $100 million on seven properties. He didn’t respond to requests for comment.

In 2012, after three years of renting it, Mr. Musk bought a 20,248-square-foot white stucco Colonial mansion, according to Brian Ades, a real-estate agent with Sotheby’s International Realty who represented Mr. Musk in his purchase of the Los Angeles home. Limited-liability companies with ties to Mr. Musk own two other houses on that same street, records show, including a ranch house once owned by actor Gene Wilder. The ranch was turned into a private school, other records show; in an interview on BTV (Beijing Television) published on YouTube, Mr. Musk said he created the school for his five sons.

Get news and analysis on politics, policy, national security and more, delivered right to your inbox

In 2015 came additional purchases that shifted to an adjacent street up a steep canyon. Duck Duck Goose, a limited-liability company that shares its addresses with the Musk Foundation and the headquarters of SpaceX, the rocket company where Mr. Musk is CEO, bought a modest ranch house for $4.3 million. A year later, another LLC tied to Mr. Musk bought a large, unfinished, white contemporary three doors down, and then, a little more than two years later, a different LLC also registered to the SpaceX headquarters address snagged a white brick Colonial next to that. All three houses sit on a cul-de-sac of five homes, making neighbors wonder whether Mr. Musk—or SpaceX—is trying to take over the whole end of the street.

The buy-out-the-neighbors approach is a familiar one among the mega wealthy, including tech billionaires. Facebook CEO Mark Zuckerberg paid more than $50 million for five homes in Palo Alto, Calif., while the Mercer Island, Wash., compound of the late Microsoft co-founder Paul Allen comprised 13 different adjoining lots and included eight houses.

  • College student studying at computer
    College majors students regret the most
    Veuer’s Elizabeth Keatinge tells us which majors college students say they regret the most.
    Veuer LogoVeuer
  • a lit up city at night
    The 3 wealthiest countries in the world
    The 3 wealthiest countries in the world
    24/7 Wall St. Logo24/7 Wall St.
  • a group of people in front of a store
    Jim Cramer: Five Below is the first company making money off the tariffs
    CNBC’s “Squawk on the Street” team discusses the market-moving news of the day and what investors need to know.
    CNBC LogoCNBC

A number of Mr. Musk’s purchases appear to be appreciating. Prices have grown in the neighborhood since his first purchase, with record sales prices in recent months, says Sally Forster Jones, executive director of luxury estates at real-estate firm Compass. One real-estate agent believes the homes are to accommodate employees and associates of Mr. Musk’s various businesses, while some neighbors said they think he wants to build a tunnel connecting his properties on the two different roads.

In December 2018, Mr. Musk mortgaged five of his homes (four in Los Angeles, one in Northern California) to Morgan Stanley Private Bank for a total of $61.3 million, according to recorded deeds.

Here is a rundown of Mr. Musk’s portfolio:

Los Angeles 

  • Purchased in May 2002 for $5.4285 million.
  • Sold in March 2011 for $6.453 million
  • 6,500 square feet, four bedrooms, six bathrooms

Elon Musk bought this house in Bel-Air when he was married to Justine Musk, whom he met while attending Queen’s University in Ontario, Canada. In her blog, which is filled with tales of clubbing, celebrities and parties, Ms. Musk said the house took two years to find, and the couple stayed at the Mondrian and the Hotel Bel-Air on house-hunting trips. She said neighbor Joe Francis, founder of the raunchy video series Girls Gone Wild, attended parties at their home and is “eccentric, charming when he wants to be.” “We hung out constantly,” said Mr. Francis, who confirmed that he lived next door.

After Ms. Musk received the house in the divorce, she wrote in her blog that her financial adviser and business manager told her she had to sell it and “fire half your domestic staff.” She sold it in 2011 for $6.453 million to George McCabe, the founder of a Boston-based investment firm, or as Ms. Musk described it in her blog, to “nice young man from the east coast who plans to use it as a second home.” Ms. Musk didn’t respond to requests for comment.

Los Angeles

  • Purchased in December 2012 for $17 million.
  • Estimated current value: $22.3 million per Zillow
  • 20,248 square feet, seven bedrooms, 13 bathrooms

The Elon Musk Revocable Trust bought this mansion from Mitchell Julis, co-founder of hedge fund Canyon Capital Advisors, according to public records. The 1.7-acre property overlooks Bel-Air Country Club, according to the listing, and includes a lighted tennis court, five garages, a pool and spa, gym and guest quarters. The house, resembling a French country estate, has a wine cellar that holds 1,000 bottles of wine and a two-story library.

The purchase was later transferred to an LLC called Callisto that is linked to Mr. Musk. Mr. Musk’s decision to buy multiple houses was “motivated by utility,” since he has a big family and staff and puts up a lot of visitors, said Mr. Ades, the real-estate agent. He added that Mr. Musk was “ahead of his time,” since the real-estate prices in that part of Bel-Air have skyrocketed. According to the L.A. Department of Building and Safety records, in 2014 Mr. Musk put in new French doors in the master suite, remodeled the master closet and bathroom and remodeled the kitchen.

Los Angeles

  • Purchased in October 2013 for $6.75 million.
  • Estimated Current Value: $7.8 million per Zillow
  • 2,756 square feet, three bedrooms, three bathrooms

The Elon Musk Revocable Trust bought this house for $6.75 million, considerably less than its original listing price of $7.995 million, records show. The three-bedroom ranch house with a guest cottage, right above the Bel-Air Country Club, was once owned by Mr. Wilder, who bought it in 1976 for $314,000. It was later transferred to an LLC associated with Mr. Musk.

Ad Astra, the school Mr. Musk started for his five sons (a pair of twins and a set of triplets), was registered at this address, though the school’s address has since been switched to a building partially leased by SpaceX in Hawthorne, Calif., about 17 miles away. According to the admissions page on its website, the school, founded in 2014, is for students between 8 and 14 years old and is focused on problem solving, ethical thinking and collaboration. For admissions for this school year, applicants had to solve problems, such as picking one of 11 planets for a new home for humans, or deciding who is to blame for the death of a lake from pollution.

Los Angeles

  • Purchased in July 2015 for $20 million.
  • Estimated Current Value: $20 million per Zillow
  • 7,026 square feet, six bedrooms, eight bathrooms

Originally built in 1954, this house was altered in 2009, according to public records. It sold for $1.825 million in 1998 and then for $2.49 million in 2002 before an LLC called Camellia Ranch bought it in 2015 for $20 million. The mailing address for Camellia Ranch is SpaceX’s headquarters, and it shares a P.O. box with Excession LLC, Mr. Musk’s family office. Jared Birchall, who works for Mr. Musk, is listed as an authorized signatory.

Hillsborough

  • Purchased in June 2017 for $23.364 million.
  • Estimated Current Value: $27.2 million per Zillow
  • 16,000 square feet, 10 bedrooms, 9 bathrooms

Known as de Guigne Court, this 100-year-old mansion sits on 47.4 acres and has bay views, a pool, hiking trails and a ballroom. When the property was first marketed in 2013, its seller Christian de Guigne IV, 78, had made any sale contingent on him retaining a life estate in the property, which would give him exclusive use of it during his lifetime. The estate was then taken off the market, then put back on with the contingency removed.

Located on a leafy hilltop roughly 20 minutes south of San Francisco and north of Silicon Valley, the property has been in the same family for 150 years. Mr. de Guigne’s grandparents built the approximately 16,000-square-foot Mediterranean-style home; the family said it was designed by San Francisco architects Bliss & Faville (who also designed the St. Francis Hotel) around 1912. The main house includes a ballroom, a flower-arranging room, five bedrooms, seven full baths and two half baths. A staff wing has six bedrooms and three baths. A pavilion with 18th-century Chinese wallpaper overlooks the pool.

By the time an LLC tied to Mr. Musk bought the house for $23.364 million in 2017, it was a third of its original $100 million price. The only permit recorded since Mr. Musk bought the house was in October 2018, for removing and replacing kitchen cabinets. Greg Goumas, with Sotheby’s International, says the house was in its “original condition” when it sold and was in need of significant modernization.

Brentwood

  • Purchased by an LLC tied to then-wife Talulah Riley in August 2014 for $3.695 million.
  • Sold in August 2019 for $3.925 million
  • 3,000 square feet, four bedrooms, four bathrooms

In August 2014, a year after Mr. Musk married Ms. Riley (an actress who appeared in the 2005 film Pride & Prejudice) for the second time, an LLC tied to her bought this house for $3.695 million, according to records. Built in 1959, the four-bedroom, white, mid-century modern home has floor-to-ceiling windows that curve around a crescent-shaped saltwater pool and ocean views, according to the listing. The couple later divorced.

The house went on sale in February 2019 for $4.5 million and sold in August 2019 for $3.925 million.

Los Angeles

  • Purchased in July 2015 for $4.3 million.
  • Estimated Current Value: $4.9 million per Zillow
  • 2,963 square feet, four bedrooms, four bathrooms

On a recent late Sunday morning, the grounds of this half stucco, half stone, one-level white house looked unkempt, with a scruffy, bush-filled front yard, a stained glass window, a clay rabbit and dead plants in pots by the front door. Seven large trash bins sat outside the garage, a common sight, according to neighbors, who also said that last February the house was lit up with pink lights for Valentine’s Day. Neighbors said there appeared to be people at the home sometimes, but it didn’t appear anyone was living there full-time.

Duck Duck Goose, an LLC with ties to Mr. Musk, paid 10% above the original asking price, according to public records. Photos from the 2015 sales listing show a brick patio and a grassy back yard overlooking the canyons, rooms with pink walls, floral wallpaper and blue floral wall-to-wall carpets, and a wood-paneled living room.

Los Angeles

  • Purchased in September 2016 for $24.25 million.
  • Estimated Current Value: $27.3 million per Zillow
  • 9,309 square feet, six bedrooms, seven bathrooms

An LLC tied to Mr. Musk bought this contemporary made up of geometric masses, one with two-story glass windows. It sits behind a frosted glass wall. Neighbors said the property is frequently the site of construction, which started in 2011; the L.A. Department of Building and Safety has pages and pages of permitting record documents associated with the property, including one for a residential elevator and another for a fire-sprinkler system.

Los Angeles

  • Purchased in January 2019 for $6.4 million.
  • Estimated Current Value: $4.2 million per Zillow
  • 3,943 square feet, four bedrooms, three bathrooms

The 1958 Frankel Family Trust sold this home to Wyoming Steel LLC for $6.4 million on Jan. 15, 2019, records show. The address for Wyoming Steel is shared with SpaceX’s headquarters. The home is a two-story, white brick Colonial house, with shutters, a pool and a brick front walkway lined by a white picket fence.

By: Nancy Keates

Source: https://www.wsj.com/news/author/nancy-keates

3.12M subscribers
Elon Musk | The Rich Life | Forbes 23.7 Billion Dollar Net Worth SUBSCRIBE: http://bit.ly/2z9TmzZ JOIN AS A MEMBER: https://bit.ly/2MgeEDC Support The Channel on Patreon: https://www.patreon.com/mccrudden SHOP MERCH @ https://www.michaelmccrudden.com/ When you’re rich like Elon Musk (Tesla and Space x) you don’t just buy a house in Bel Air, you buy up a neighborhood. After securing his first Bel Air address in 2012 for a cool $17 Million he went ahead and bought up all the neighboring mansions scooping up a total of 6 properties to a sum of $80 Million dollars. #elonmusk #cybertruck #therichlife #michaelmccrudden #tesla #networth #forbes

%d bloggers like this:
Skip to toolbar