Brad Karp’s Fall Shows Growing Fallout From Epstein Files
Brad Karp abruptly resigned as chairman of Paul Weiss after newly released Justice Department files linked him to Jeffrey Epstein’s Manhattan mansion and showed he sought a film job for his son. The revelations triggered a swift leadership change, with top M&A rainmaker Scott Barshay slated to take over. Karp’s exit underscores how personal connections to the Epstein scandal are still toppling senior executives across finance and law. The firm’s shift signals a broader re‑orientation toward corporate transactions.
The Latest Way to Create an Isolated Retreat: Buy a Whole Village
Wealthy entrepreneurs are buying entire abandoned European villages to create isolated hospitality retreats. Jason Lee Beckwith’s 2024 purchase of a Spanish village—complete with a church, school and pool—illustrates the trend, with many villages available for under $1 million. Rural depopulation across...
The Major Business Names in the Epstein Files
The Justice Department released more than three million pages of Jeffrey Epstein files, exposing email correspondence that ties high‑profile business leaders such as Elon Musk and Bill Gates to the disgraced financier. The documents reveal contradictions to earlier public statements...
Russia’s Lukoil in Talks to Sell Some Assets to U.S. Investment Firm
Lukoil announced it is negotiating the sale of its foreign assets to Washington‑based Carlyle, a move prompted by U.S. sanctions imposed last year. The proposed transaction would transfer all overseas holdings except those in Kazakhstan, pending Carlyle’s due diligence and...
The A.I. Boom’s Uncertain Payoff
Meta announced a capital‑expenditure budget of $115‑$135 billion for 2026, with the bulk earmarked for artificial‑intelligence initiatives, sending its stock up 8%. Microsoft reported $37.5 billion in capex for the latest quarter, a 65% year‑over‑year increase, yet its shares slipped more than...
Clay, an A.I. Sales Start-Up, Lets Employees Cash Out. Again.
Clay, an AI‑driven sales and marketing startup, announced a second employee tender offer, letting staff sell shares at a $5 billion valuation—up from $1.5 billion in its first tender. The new offer arrives nine months after the initial buyback and follows a...