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Most Insane Revelations from the WeWork Documentary

Turns out WeWork and its CEO, Adam Neumann, were a mess long before their public implosion

With images like this ... what did we expect?

Hulu's new documentary on the rise and fall of WeWork focuses on its charismatic, egotistical founder and CEO Adam Neumann, who was ultimately the company's downfall.

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Culture Feature

What to Do When Kylie Jenner Asks You for Money

Maybe when you've been on the cover of Forbes you lose your crowdfunding privileges?

When a young, single working mom reaches out for help, we all have a responsibility to dig deep and give what we can.

And if she's not even asking for herself but for a friend who's in need of some assistance, you know that it must be for an exceptionally good cause. But if you happen to be struggling at the time — maybe with the consequences of some sort of global health crisis that has brought on a major economic downturn — and don't happen to be the founder of your own billion-dollar cosmetics empire, what should you do when the 23-year-old cosmetics mogul and star of Keeping Up with the Kardashians asks you to pay for her makeup artist's medical bills?

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Yusaku Maezawa founded the fashion retail website Zozotown in 2004.

It has since grown to be the largest of its type in Japan, and in November Maezawa sold a controlling stake of Zozo Inc to SoftBank for $900 million. Now he's decided to give a small piece of that money away to 1,000, randomly selected strangers. All they had to do for a chance to win was to retweet the announcement.

Maezawa moon

Maezawa is an interesting figure with a history as a musician and plans to fly around the moon with SpaceX in the first-of-its-kind commercial flight. But while he remains here on Earth, he's been devoting himself to "social experiments" on the connection between money and happiness. His announcement of a smaller scale experiment last January broke records with nearly five million retweets. His plan was to give 100 people each a million yen (around $9,000). Now he's giving the same amount to 1,000 people who will then answer a series of surveys in an effort to see how that money affects their happiness.

Maezawa wants to encourage Japanese society to look into the concept of a Universal Basic Income—similar to presidential candidate Andrew Yang's proposed $12,000 a year—and he's hoping that his experiment will lead to more serious consideration. It's an admirable goal, and the $9 million he's giving away isn't exactly chump change…unless you're a billionaire like Yusaku Maezawa. In 2017 he broke another record by spending more than 12 times that amount on a painting by Jean-Michel Basquiat. Good taste aside, he clearly doesn't worry much about throwing his financial weight around.

Yusaku Maezawa Basquiat

It can be hard for people who work for a living to really wrap our heads around the immense wealth that the most powerful members of our society wield, but experiments like this can help put things in perspective. The results of Maezawa's generosity remain to be seen, but it's hard to imagine that the recipients' happiness wouldn't be improved by an extra $9,000 in their pockets.

Meanwhile, Maezawa's total fortune is estimated to be around $2 billion, which means that he could give away another $9,000 every hour for 20 years…and still have hundreds of millions of dollars left over for himself. In other words, he could substantially improve the lives of 175,000 people without experiencing even a negligible decline in his quality of life—though he might have to trim his fine-art budget.

Billion

Last year the world's wealthiest 500 people saw their wealth grow by 25%, adding $1.2 trillion to their collective net worth. You could fit those 500 people in one large room—Maezawa would be about $1.5 billion short of making the cut—and they made enough money in one year to give $9,000 to everyone in the country of Mexico. If they dipped into their total wealth, they could easily expand that to include everyone in the US—again, without substantially impacting their quality of life. Dropping from billionaires to people with only hundreds of millions of dollars would not impact their way of life in any meaningful way. It would only affect their absurdly elite status—their access to that exclusive club policed by Forbes.

So is the status of those 500 people somehow worth more than the happiness of 500 million? Should we all be subject to the whims of people who got extraordinarily lucky? None one should be comfortable with the idea of this kind of wealth existing in a world where so many suffer and where nations struggle to fund programs for the public good and the future life-sustaining capacity of our planet.

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It's estimated that it would cost only $300 billion to delay the catastrophic impact of global warming for 20 years—a tiny fraction of what billionaires like Maezawa made last year. A Universal Basic Income could turn out to be a great thing, but until we have a clear sense of how to do it right, the wealth taxes proposed by Bernie Sanders and Elizabeth Warren seem like a small first step in the right direction.

Bios

Kylie Jenner

All you need to know

Full Name: Kylie Kristen Jenner

Date of Birth: August 10, 1997

Born: Los Angeles, CA

Occupation: Reality star, entrepreneur, model

Status: Single

Children: 1

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Sports

Serena Williams Ranks #1 Highest Paid Female Athlete

For the Third Year in a Row, Forbes Finds Williams on Top

She's an "ace" athlete and a big shot at the bank.

Tennis superstar Serena Williams has "netted" a nice chunk of change this year, making it her third consecutive year as the highest paid female athlete. From becoming a new mom to consistently killing it on the court, Williams is keeping her cool as she continues to make history.

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As per Forbes, "Despite the big prize money in tennis, the world's top-earning female athlete received only $62,000 in winnings between June 2017 and June 2018. Serena Williams had a good excuse, though, as she took a 14-month break after revealing in January 2017 that she was pregnant. Her earnings of $18.1 million are still best among female athletes for the third straight year, thanks to an endorsement portfolio unmatched among women in sports."

Williams' charisma both on and off the court is what lands her those enormous endorsement deals, proving her power and persistence pays off in more ways than one…perhaps 18.1 million ways. She has over a dozen sponsors from Nike to Intel to Gatorade to Beats and then some. The Marketing Arm ranks her high among the top "most marketable female athletes" thanks to her aspiration and influence.

Not only do other companies support and salute the top-notch tennis player, but she's getting in the "game" too. As Forbes notes, "Williams launched her fashion collection, Serena, in May. After collections for HSN and Nike, this is her first solo compilation and includes dresses, denim and jackets." Style, strength, and success…what else could a woman want? How 'bout a supportive spouse - Reddit's Alexis Ohanian, an also-impressive tennis playing sister, and a beautiful baby girl? Riches come in many forms.

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So, who else landed at the top of Forbes' ranking? After Williams, we see tennis player Caroline Wozniacki ($13 million), tennis player Sloane Stephens ($11.2 million), tennis player Garbine Muguruza ($11 million), and tennis player Maria Sharapova ($10.5 million). Sister Venus came in 6 th with a total of $10.2 million. The only non-tennis player (there's also one badminton player, but close enough) in the top 10 is race car driver Danica Patrick ($7.5 million). Looks like backhands have the upper hand when it comes to making bank.

This year, not a single female athlete was among Forbes' top earning athletes overall. As Reuters reports, "In June, Forbes issued a ranking of the world's 100 highest-paid athletes and it did not feature a woman. Serena Williams, who was the only woman on the list the previous year, dropped out of the chart while taking time off to have a baby."

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While she may not make what the men do, Williams is doing wonders for women in sports. Congrats to the tennis phenomenon who always has the ball in her court.


Melissa A. Kay is a New York-based writer, editor, and content strategist. Follow her work on Popdust as well as sites including TopDust, Chase Bank, P&G, Understood.org, The Richest, GearBrain, The Journiest, Bella, TrueSelf, Better Homes & Gardens, AMC Daycare, and more.


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Kylie Jenner…Billionaire?

That's What Forbes Predicts

The rich keep getting richer.

Forbes has Kylie Jenner in mind as the gal who is, "on track to soon be the youngest self-made billionaire ever." At just 20-years-old, the youngest sibling of the famous Kardashian-Jenner clan is cruising into billionaire status, sitting on a $900 million mountain that was amassed in under 3 years. But "self-made?" Well sorta.

While her drive, determination, and dollars are impressive, some call Forbes' "self-made" description a bit deceptive. One Twitter user complained, "Calling Kylie Jenner self-made without acknowledging anywhere the incredible head start she had is what allows people to turn around and look at poor people and ask them why they haven't become billionaires yet. Her story is not inspiring or motivating for anyone." Another chimed in, "Kylie Jenner is not 'self-made' at all. This is the problem with talking about successful people in America. We act like they did it by themselves when that's never the case. And, with people like the Kardashians/Jenners, they were always rich."

Well, haters gonna hate, as they say, but Jenner is taking the backlash to the bank. Her fortune is phenomenal, "thanks in large part to her wildly popular makeup line, Kylie Cosmetics," notes CBS News. She owns all of the cosmetics brand, not to mention the money that pours in from additional endorsement deals, reality show dough, and then some.

Forbes explains, "Another year of growth will make her the youngest self-made billionaire ever, male or female, trumping Mark Zuckerberg, who became a billionaire at age 23."

Jenner Tweeted, "thank you @Forbes for this article and the recognition. I'm so blessed to do what i love everyday. #KylieCosmetics." And that's not lip service.

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