The leveraged buyout of Lyondell Chemical Co. in 2007 benefited the company’s board as well as billionaire Len Blavatnik, who gained $1.2 billion, according to a revised lawsuit brought by the company’s creditors.
Alisher Usmanov, Russia’s richest person, moved control of most of his $20 billion fortune last year to a holding company based in the British Virgin Islands, a collection of more than 60 isles 5,600 miles away from Moscow.
Bill and Hillary Clinton dined with industrialist Len Blavatnik and hedge-fund manager Richard Perry. Goldman Sachs Group Inc. President Gary Cohn left his seat with Anchorage Capital Group LLC’s Kevin Ulrich to visit at their table.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Billionaire Leonard Blavatnik’s lawyers asked a New York judge to hold JPMorgan Chase & Co. responsible for stuffing a fund with risky mortgage securities and losing 10 percent of his $1 billion investment.
Warner Music Group owner Len Blavatnik withdrew his bid for EMI Group’s recorded music business after failing to agree on a price with owner Citigroup Inc., two people with knowledge of the situation said.
Warner Music Group’s owner, Len Blavatnik, is considering dropping his bid for EMI Group Ltd. because Citigroup Inc. is taking too long to choose a buyer, a person with knowledge of the bidding process said.