Latest news with #Omidyar
GMA Network
19-06-2025
- Business
- GMA Network
Pasig RTC junks Anti-Dummy Law case vs. Maria Ressa, other Rappler execs
"In this case, this Court finds that the prosecution's evidence is grossly insufficient to establish the criminal liability of al of the accused by proof beyond reasonable doubt," the court said. The Pasig Regional Trial Court has dismissed the violation of the Anti-Dummy Law charges against Nobel Peace laureate Rappler chief executive officer Maria Ressa and five other officers of the news website. In an 11-page order, Pasig City Judge Marie Joyce Manongsong granted the demurrers to evidence Ressa and the other executives –Nico Jose Nolledo, Glenda M. Gloria, Manuel I. Ayala, Felicia Atienza, and James Velasquez. "In this case, this Court finds that the prosecution's evidence is grossly insufficient to establish the criminal liability of al of the accused by proof beyond reasonable doubt," the court said. In the information filed before the Pasig RTC, the prosecution accused Ressa and the others of allowing Omidyar Network Fund, a foreign corporation, to intervene in Rappler operations by issuing Philippine Depositary Receipts (PDR) to the investment firm in 2015. The anti-dummy case is related to a Securities and Exchange Commission order revoking Rappler's incorporation papers on allegations it violated a constitutional restriction on foreign ownership of mass media by issuing PDRs to Omidyar. The court said that the 2018 SEC decision itself did not establish the individual roles of each of the accused in the transfer of PDRs to Omidyar. "From the foregoing, it is apparent that the SEC assumed that each of the accused had a role ni the supposed illegal scheme based on their corporate positions ni Rappler and RHCI. It found such fact sufficient for the imposition of administrative sanctions on the corporations involved," the court said. "Nonetheless, ni the instant criminal case against each of the accused, the prosecution simply adopted the SEC findings in the administrative case and failed ot provide evidentiary support ot the supposed specific acts of each of the accused that led to the issuance of the PDRs to Omidyar," it added. The court said there was no proof of the alleged negotiations between Ressa, as representative of Rappler and RHCI, and Omidyar. It added that the 2018 SEC decision itself showed that not all the accused are directors of RHCI. Atienza and Velasquez, for example, were shown to be directors of Rappler only. "Likewise, the prosecution failed to submit any board resolution, corporate record or any other piece of evidence clearly establishing the involvement of each of the accused in the issuance of PDRs to Omidyar," the court said. –NB, GMA Integrated News
Time of India
19-06-2025
- Business
- Time of India
Top 5 richest persons from Iran
Richest Iranians: As tensions rise in the Middle East due to the Israel Iran war, it's easy to overlook another fascinating aspect of Iran — the financial empires built by some of the richest Iranians in history. While the headlines are dominated by missile strikes and geopolitical drama, a group of ultra-wealthy individuals of Iranian origin continues to thrive, with billion-dollar businesses and global influence. In this article, we explore the 5 richest persons in Iran (or of Iranian descent), their inspiring journeys, and how they earned their massive fortunes. A Glimpse into Iran's Global Economic Influence While Iran is the sixth-largest country in Asia and the second-largest in the Middle East, its influence extends far beyond geography. Despite political and economic challenges, several richest persons in Iran have built impressive businesses across tech, finance, space, and entertainment industries. Many of these billionaires may reside abroad, but their roots remain Iranian. Let's now take a look at the top richest Iranians in 2025 and explore their net worth and business ventures. 1. Pierre Omidyar – Net Worth: $10.4 Billion Founder of eBay and Global Philanthropist Pierre Omidyar | Credit: Forbes Topping the list of the richest persons from Iran is Pierre Omidyar, the founder of eBay. Born to Iranian parents, Omidyar launched eBay in 1995, which went on to become a global giant in online auctions. PayPal Acquisition: Under Omidyar's leadership, eBay acquired PayPal in 2002 and spun it off in 2014. Under Omidyar's leadership, eBay acquired PayPal in 2002 and spun it off in 2014. Philanthropy: Through the Omidyar Network, he has donated over $1.5 billion to charities and social enterprises. Through the Omidyar Network, he has donated over $1.5 billion to charities and social enterprises. Investments: He owns resort properties in California and Mexico, along with real estate development in Cabo San Lucas. He owns resort properties in California and Mexico, along with real estate development in Cabo San Lucas. Media Ventures: He also launched First Look Media, which owns The Intercept and Topic Studios. Omidyar's wealth makes him not only the richest person from Iran but also one of the most influential philanthropists in the world. 2. Behdad Eghbali – Net Worth: $4.4 Billion The Private Equity Powerhouse Behdad Eghbali | Credit: Forbes Second on the list of richest Iranians is Behdad Eghbali, cofounder of Clearlake Capital. Born in Iran and raised in the US, Eghbali has made a massive mark in the investment world. Clearlake Capital: The firm manages over $90 billion in assets and is known for high-performing investments in software and industrial sectors. The firm manages over $90 billion in assets and is known for high-performing investments in software and industrial sectors. Sports Investment: In 2022, Clearlake co-purchased English football club Chelsea FC. In 2022, Clearlake co-purchased English football club Chelsea FC. Background: Before founding Clearlake, Eghbali worked with TPG Capital, another global private equity firm. His success highlights how Iranians have become influential figures in global finance. 3. Farhad Moshiri – Net Worth: $2.8 Billion Football, Finance and International Deals Farhad Moshiri | Credit: Forbes Farhad Moshiri, another prominent name among the richest persons in Iran, built his fortune through smart investments in mining, telecom, and football. Business Partner: Moshiri partnered with Russian billionaire Alisher Usmanov and invested in Metalloinvest and Megafon. Moshiri partnered with Russian billionaire Alisher Usmanov and invested in Metalloinvest and Megafon. Football Ventures: He sold his stake in Arsenal FC and invested in Everton FC, making him a key figure in European football. He sold his stake in Arsenal FC and invested in Everton FC, making him a key figure in European football. Background: Formerly an accountant at Deloitte and Ernst & Young, Moshiri used his financial skills to enter the billionaire league. Moshiri's journey showcases the global footprint of Iranian-born billionaires. 4. Kam Ghaffarian – Net Worth: $2.5 Billion Rocketing to Success Through Space and Nuclear Energy Kam Ghaffarian | Credit: IBX Kamal 'Kam' Ghaffarian is a serial entrepreneur who has built companies in space technology, nuclear energy, and aerospace engineering. Space Projects: He co-founded Intuitive Machines, which made headlines in 2024 when its Odysseus lander successfully completed America's first moon mission since 1972. He co-founded Intuitive Machines, which made headlines in 2024 when its Odysseus lander successfully completed America's first moon mission since 1972. Nuclear Energy: In 2009, he launched X-Energy, which is working on nuclear reactors for Dow Chemical. In 2009, he launched X-Energy, which is working on nuclear reactors for Dow Chemical. Commercial Space Station: Ghaffarian's company Axiom Space is developing the world's first commercial space station set to launch in 2031. Ghaffarian's company Axiom Space is developing the world's first commercial space station set to launch in 2031. Previous Venture: He sold SGT, a major NASA contractor, for $355 million in 2018. Ghaffarian is a shining example of how the richest Iranians are transforming the future of science and space. 5. Isaac Larian – Net Worth: $1.1 Billion The Toy Tycoon Who Took On Barbie Isaac Larian | Credit: Forbes Isaac Larian, the founder and CEO of MGA Entertainment, is a legendary name in the toy industry. Bratz Dolls: In 2001, MGA launched the hugely popular Bratz dolls, which outsold Barbie in 2005. In 2001, MGA launched the hugely popular Bratz dolls, which outsold Barbie in 2005. Legal Battle with Mattel: The company had a famous legal battle with Mattel over Bratz, eventually resulting in MGA being awarded $310 million. The company had a famous legal battle with Mattel over Bratz, eventually resulting in MGA being awarded $310 million. Other Products: MGA also owns Little Tikes and created the hit doll line Lalaloopsy in 2010. MGA also owns Little Tikes and created the hit doll line Lalaloopsy in 2010. Expansion: Larian has built MGA into the largest privately owned toy company in the world. His journey from an Iranian immigrant to a US billionaire makes him one of the most inspiring richest people from Iran. Please note: The source of net worth from Forbes as of June 18, 2025 Iran's Billionaire Influence Goes Beyond Borders Despite the ongoing Israel Iran war and political instability, these richest persons in Iran show how talent, resilience, and innovation can build global legacies. From tech and toys to finance and space, these richest Iranians have created massive empires and left their mark on the world. Their stories inspire not just Iranians but aspiring entrepreneurs everywhere.
Yahoo
04-03-2025
- Business
- Yahoo
Gifts from top 50 US philanthropists rebounded to $16B in 2024 − Mike Bloomberg; Reed Hastings and Patty Quillin; and Michael and Susan Dell lead the list of biggest givers
The 50 American individuals and couples who gave or pledged the most to charity in 2024 committed US$16.2 billion to foundations, universities, hospitals and more. That total was 33% above an inflation-adjusted $12.2 billion in 2023, according to the Chronicle of Philanthropy's latest annual tally of these donations. Media mogul and former New York City Mayor Mike Bloomberg led the list, followed by Netflix co-founder and chairman Reed Hastings, along with his wife, Patty Quillin. Businessman Michael Dell and his wife, Susan Dell, pledged the third most in 2024. Neither MacKenzie Scott nor Elon Musk, both of whom announced donations large enough to land them on this list, provided enough information for the Chronicle to include them. Musk didn't name the nonprofits to which he gave stock, and Scott declined to confirm how much money she put into the donor-advised funds through which she gives. Known as DAFs, these funds are savings accounts reserved for charitable giving. The Conversation U.S. asked David Campbell, Lindsey McDougle and Susan Appe, three philanthropy scholars, to assess the significance of these gifts and to consider what they indicate about the state of charitable giving in the United States. Appe: I think it's good to see that eBay founder Pierre Omidyar, an Iranian-American entrepreneur born in France, with his wife Pam, are among the top 12 donors. Omidyar is the only foreign-born philanthropist on this list who reported giving to democracy promotion in the U.S. through his Democracy Fund. The Omidyars also funded the AI Collaborative, a group that promotes artificial intelligence governance based on democratic values, and their Omidyar Network, an organization promoting responsible technology. Given concerns about democratic backsliding around the world, which could arguably include President Donald Trump's efforts to expand the executive branch's power, I'm surprised not to see more top donors clearly funding democracy promotion. I study philanthropy by U.S. immigrants. They either give more or at the same rate as people born in the United States. Omidyar is one of seven immigrants among 2024's top U.S. donors. The others are Herta Amir, who was born in what was then Czechoslovakia; Sergey Brin, a Russian immigrant; the Pagidipati family, which came from India; K. Lisa Yang, who was born in Singapore; Michele Kang, who immigrated from South Korea; and Joe Wen, a Taiwanese immigrant. In 2024, as in most years, many of these wealthy donors supported prestigious universities and large hospitals and stowed millions in their own foundations and donor-advised funds. Although it's impossible to predict exactly what their foundations and DAFs will support in the future, history suggests that they're unlikely to focus on addressing systemic issues such as economic inequality. McDougle: It doesn't appear that any of these top 50 donors are Black or Latino. This lack of representation is undoubtedly a reflection of broader societal disparities and may influence how individuals from these groups perceive their own potential as philanthropists. Philanthropic capacity often correlates with wealth accumulation, and significant gaps in wealth between racial groups are likely to have a direct influence on who we see in the Philanthropy 50. Black families, for instance, possess just 15% of the wealth of white families, while Hispanic families have only about 22%. These wealth disparities likely prevent many Black and Latino Americans from having the wealth necessary to engage in large-scale philanthropy. This reality highlights the need for the nation's leading philanthropists to fund initiatives that focus on addressing systemic barriers to economic equality. MacKenzie Scott has been doing this through the millions of dollars she has donated to support racial equity and economic mobility. Addressing these disparities also involves changing the narrative around who is considered a philanthropist. As I have argued before, underrepresented groups may not always see themselves as philanthropists, partly due to limited resources and the historical portrayal of philanthropy as the domain of the wealthy. But by redefining philanthropy to include a broader spectrum of giving, philanthropy can play a pivotal role in leveling the playing field and creating more opportunities for all. Appe: The absence of Oracle co-founder Larry Ellison, Google co-founder Larry Page and former Microsoft CEO Steve Ballmer also stands out due to the presence of many other tech billionaires, including Mark Zuckerberg and Bill Gates, on this list. Campbell: In addition to Elon Musk, a South African immigrant, not making this list for the second year in a row – even though he is the richest person in the world – Jeff Bezos isn't listed either. Few private citizens have sought to change American society more than they have – Musk most recently through his role in the so-called Department of Government Efficiency and Bezos through actions he takes as the owner of The Washington Post and the founder of Amazon, among other initiatives. I believe that it is worth asking why neither of these men, who rank among the wealthiest Americans, made the list this year. While Musk gave too little information to make the list, his previous giving choices raise questions about his commitment to philanthropy as a way to advance the public good. In 2022 and 2023, for example, his foundation gave away less money than required by law and supported organizations that benefit him and his interests, such as schools attended by his children. Bezos, by contrast, got a lot of attention in 2022 when he announced he would give away his fortune during his lifetime. Yet his giving has come in fits and starts since 2018, when he began to give away billions of dollars to support people experiencing homelessness, preschools for low-income children and efforts to fight climate change. McDougle: The nonprofits receiving these large donations can end up in a precarious situation if that funding suddenly stops. When nonprofits rely too heavily on a few wealthy donors, they may be forced to make abrupt decisions like cutting crucial programs or laying off staff. Obviously, this underscores a core problem with overdependence on these types of major gifts: They can leave nonprofits in a bind and unable to sustain their operations without continued long-term support. This is particularly problematic if it affects a nonprofit's ability to engage in long-term planning. As such, when focusing on the giving of the super rich, it is important to consider not just the immediate benefits of their generosity but also the potential instability it can create for the recipients if their gift is not managed strategically. Campbell: The total given by America's top donors in 2024 was the sixth-highest in the past decade, after adjusting for inflation. I'd expected to see a larger amount, given that 2024 was the second straight year of stock market gains of 20% or more. In 2020, when the COVID-19 pandemic began, the top donors gave nearly twice as much to charity as they did this past year; and they gave close to $8 billion more than that in 2021. Why haven't the wealthiest Americans sustained that level? Giant gifts to universities, museums and hospitals are surely making a meaningful difference in America and the world. But I wonder why these donors tend not to focus on the challenges facing those who have the least. One significant exception is the $1 billion Ruth Gottesman gave the Bronx-based Albert Einstein College of Medicine to allow the school to become tuition-free. Gottesman, a former faculty member at the school, chose to honor and support the many first-generation and low-income students trained there. Bloomberg, upping his commitment to ease the tuition burden at Johns Hopkins University, made a similar gift to the medical school at his alma mater and four medical schools at historically black colleges and universities. To be sure, some of these philanthropists use the foundations they or their relatives control to help meet the basic needs of Americans struggling to get by and address issues such as poverty, disease prevention and criminal justice reform. Melinda French Gates, Warren Buffett, and John and Laura Arnold all directed much of their giving in 2024 to those kinds of foundations. Appe: The Trump administration has frozen most U.S. foreign aid, endangering the lives of millions of the world's poorest people. There are calls for the wealthiest philanthropists to help to fill this void. I hope some big donors respond with large gifts to UNICEF, the United Nations agency for children, and the WHO Foundation, which supports the World Health Organization. Top philanthropists have been slow to react so far. However, the MacArthur Foundation just announced plans to increase its giving over the next two years. MacArthur president John Palfrey said this is a response to what he called a 'major crisis' brought on by the Trump administration's spending cuts. I will observe whether other foundations or some of the wealthiest Americans follow suit. Still, philanthropy cannot fill all these gaps. The $60 billion in foreign aid cuts represent a sliver of the trillions the Trump administration wants to slice from the federal budget. If it succeeds, donors will have countless other priorities. Campbell: Events that took place during the first Trump administration, like the murder of George Floyd, the erosion of democratic norms and the separation of immigrant families, led philanthropists to embrace giving that addressed these issues, notably diversity, equity and inclusion initiatives. In the early days of the second Trump administration, prominent donors like Mark Zuckerberg have enthusiastically backtracked on their own DEI policies. I am now watching how other donors position themselves relative to the Trump administration's objectives – as cheerleaders, combatants or something in between. The Bill & Melinda Gates Foundation and Arnold Ventures have provided funding for The Conversation U.S. in the past. The Gates foundation currently provides funding for The Conversation internationally. This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: David Campbell, Binghamton University, State University of New York; Lindsey McDougle, Rutgers University - Newark, and Susan Appe, University at Albany, State University of New York Read more: Trump has purged the Kennedy Center's board, which in turn made him its chair – why does that matter? Donations by top 50 US donors fell again in 2023, sliding to B − Mike Bloomberg, Phil and Penny Knight, and Michael and Susan Dell led the list of biggest givers Donations by top 50 US donors dropped sharply to billion in 2022 – Bill Gates, Elon Musk, Mike Bloomberg and Warren Buffett lead the list of biggest givers David Campbell receives grants from the Learning by Giving Foundation and the Conrad and Virginia Klee Foundation to support the experiential philanthropy course he teaches at Binghamton University. He also serves as the chair of the Klee Foundation board. Lindsey McDougle and Susan Appe do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
