Latest news with #EnglishGothic
Forbes
17-04-2025
- Business
- Forbes
How Scott Bessent's LLC Flipped A House And Lost $100,000 In One Month
Bessent, originally from South Carolina, attended Yale University and worked for George Soros early in his career. Scott Bessent, Donald Trump's Secretary of the Treasury, appears to have lost six figures in a quick-turnaround real estate transaction earlier this year. After buying a new home in Charleston, South Carolina in January for $4.85 million, real estate records suggest he then sold it for $4.75 million in February. Everything was done through shell companies, so the details are a bit difficult to parse, but here's what Forbes found in digging into the documents, which do not appear to have been previously reported. On January 13, an entity called 'Palmetto 2020 Trust LLC,' which Bessent discloses as his own on his financial disclosure, purchased a waterfront home in Charleston's glitzy Crescent neighborhood. The 7,100-square-foot mansion sports a pool and bathhouse. and a Zillow listing emphasizes its 'fusion of English Gothic and Italian Gothic influences' as well as its privacy. The price tag: $4.85 million. But then, on February 25, Palmetto 2020 Trust LLC sold the home to another anonymously named LLC, which Forbes is not identifying here because its name contains the address of the home. Bessent's husband, John Freeman, is listed as the agent for Palmetto 2020 Trust LLC in the sale. Whoever owns that second LLC evidently got a bargain, purchasing the home for $4.75 million, $100,000 less than Palmetto 2020 Trust bought it for in January. The purchasing LLC's registered agent, a Charleston-area real estate lawyer, did not return requests for comment. Neither did the Treasury Department. There are two possible explanations. The first is that these companies are both owned by Bessent and Freeman, and this was a transfer with little actual consequence. The couple lives in both Charleston and D.C., per Bessent's Treasury Department biography, and they sold their previous Charleston home, a 9,000 square foot estate first built in the 1800s, in February for over $18 million. Perhaps they were looking to downsize, given that they also reportedly purchased a $12.5 million home in D.C.'s Georgetown neighborhood in January. But why the prices differed between the two sales is unclear, then. The second possibility is that, for whatever reason, Bessent and Freeman got cold feet after purchasing the home and quickly flipped it to another wealthy, and privacy-conscious, buyer, taking a loss in the process. One-hundred thousand dollars is nothing to sneeze at for most Americans—the median American's net worth is about $193,000, according to a 2022 survey from the Federal Reserve. For Bessent, it's pocket change. A former hedge fund manager, he declared hundreds of millions of dollars of assets on his financial disclosure, including homes in the Bahamas and North Carolina, a commercial building in Charleston and farmland in North Dakota. The Wall Street Journal reported in December that Bessent had sold at least $127 million in U.S. real estate since the 1990s. He has taken losses before—in 2021, he sold a Upper West Side Manhattan condo for $15 million, over $4 million less than he bought it for in 2017.
Telegraph
31-03-2025
- General
- Telegraph
Cathedral on the financial ropes can stay open after donors raise £300,000
A medieval cathedral which faced financial ruin can now stay open after donors raised £300,000 for its upkeep. In January, a campaign was launched as an 'urgent fundraising appeal' to secure the future of the Peterborough Cathedral, which is one of the most intact large Norman buildings in England. Church leaders said that without raising £300,000 by the end of March, the landmark would no longer be able to keep its doors open for free seven days a week. But it was announced on Monday that the campaign had exceeded its £300,000 fundraising target after more than 1,000 individual donors contributed. The Very Rev Christopher Dalliston, the Dean of Peterborough Cathedral, said he was 'hugely delighted' that the fundraising target had been reached. The support means the cathedral can remain open and begin projects aimed at securing its long-term future. A 'significant anonymous donation' helped push the total beyond the goal, it was revealed. When the campaign was launched earlier this year, the Dean described the cathedral as 'a place of inspiration and sanctuary for all'. He said the cathedral has been 'at the heart of Peterborough and the diocese for nearly 1,400 years'. Renowned for its early English Gothic front, the cathedral was founded as a monastery in 655 and rebuilt in its present form between 1118 and 1238. It has had both Catherine of Aragon and Mary, Queen of Scots, buried beneath its paving; though the remains of the latter were removed when James I became King of England. The Dean said: 'We're hugely delighted – and relieved – to have achieved and exceeded our £300,000 target. 'We are also truly humbled by the depth and breadth of support from over 1,000 generous individual donors and other groups and institutions, within the city and beyond, who have helped us achieve this goal and ensure that the doors of our cathedral will remain open to all. 'Every gift, however great or small, is so greatly appreciated.' But he added that the cathedral continues to operate on 'fine margins'. He said: 'This is only the first step in building a long-term sustainable future for the cathedral. 'We continue to operate on fine margins in a challenging financial environment, and over the coming year we shall need to continue to work hard to strengthen our network of supporters and develop additional sources of revenue to ensure we remain a vibrant community, serving our city, our diocese, and the wider region.'
Yahoo
18-02-2025
- Entertainment
- Yahoo
Michelle Wai got married on Valentine's weekend
18 Feb - Just as she was announced one of the nominees of the HKFA Best Actress category, Michelle Wai finally walked down the aisle with partner of two and a half years; aesthetic doctor, Chau Chee On. The couple held their wedding ceremony on 16 February at the Cathedral of the Immaculate Conception, a late 19th century English Gothic revival church located at the Mid-Levels, Hong Kong. The matrimony was witnessed by Chairman of Emperor Group Albert Yeung, manager Florence Chan, as well as actor friends such as Natalie Tong, Gin Lee, Kenny Kwan, Joey Yung, Janice Man and her husband, Alex Yeung, and Shiga Lin. Meanwhile, Carlos Chan and Rosina Chau served as the bridal entourage. Speaking to the media afterwards, Michelle said that the banquet has two parts, with the second one to be a Chinese ceremony in March where the families of two parties will attend. As for Chau, when asked what he loves about Michelle, he said, "I am very grateful that she loves me. She is kind and good-hearted. She taught me to tolerate many things with great love. We have common topics and similar values. We can spend the rest of our lives together." As Michelle is busy with work, the couple plan to go on a honeymoon only after the Hong Kong Film Awards in April. When asked if he will accompany his wife to the event, Chau said, "Waiting for my wife's order. I really hope to witness this moment. I have imagined the scene of her winning the award." (Photo Source: HK01, Wenweipo)
