Billionaire Dan Loeb Sells Most Of His Yahoo Stock, Makes $1 Billion

Daniel Loeb, the billionaire hedge fund investor, is selling the majority of his hedge fund’s stake in Yahoo and resigning from the company’s board of directors, as he moves to bring one of the most high-profile and successful investments of his career to a close.

Loeb’s Third Point hedge fund will sell 40 million shares back to the company for a total of $1.16 billion and will for now be left with another 20 million shares, meaning the combined current value of Loeb’s investment in Yahoo is worth more than $1.7 billion. Loeb paid much less for those shares when he started buying them in August 2011 and the shares were trading hands for some $13.

PEOPLE: Meet Chuck FEENEY: The BILLIONAIRE Who Is Trying To Go BROKE

On a cool summer afternoon at Dublin’s Heuston Station, Chuck Feeney, 81, gingerly stepped off a train on his journey back from the University of Limerick, a 12,000-student college he willed into existence with his vision, his influence and nearly $170 million in grants, and hobbled toward the turnstiles on sore knees.

No commuter even glanced twice at the short New Jersey native, one hand holding a plastic bag of newspapers, the other grasping an iron fence for support. The man who arguably has done more for Ireland than anyone since Saint Patrick slowly limped out of the station completely unnoticed. And that’s just how Feeney likes it.

WATCHES: Breitling for Bentley Celebrates 10 Years With 3 New In-House Chronographs #SwagQuest

Ten years ago, Breitling launched its Breitling for Bentley watch collection on the heels of Bentley winning the 24 Hours of Le Mans race. To pay tribute to the first decade of collaboration between the Swiss watch brand and the British luxury carmaker, Breitling has launched the first three Breitling for Bentley watches equipped with Breitling manufacture movements.

The new Breitling for Bentley timepieces are the Bentley B06, Bentley B04 GMT, and Bentley B05 Unitime. Each has a self-winding chronograph movement (based on the groundbreaking Breitling B01, the brand’s first-ever in-house movement) with a column wheel, vertical coupling clutch and a power reserve of more than 70 hours.

WATCHES: Reviewing the $2300 Seiko Astron GPS Watch #SwagQuest

Seiko’s Astron, released to great fanfare last year, tells time by receiving GPS signals anywhere on Earth. Was it a world-beater in our test? Click here to read our in-depth review of the Astron GPS watch, with original photographs by Robert Atkinson, first published in our April 2013 issue.

The last time Seiko called a new watch “Astron,” the future of timekeeping changed forever. Launched on Christmas Day, 1969, the original Astron was the world’s first commercially available quartz wristwatch. At the time, Seiko said of the Astron, “Someday, all watches will be made this way.” Today, it’s saying the same thing about the new Astron. Is Seiko right? Let’s find out.

PEOPLE: 8 Well Known Entrepreneurs Who Made A Quick Million Dollars

People often say that being an entrepreneur and starting a home business is difficult. That it often takes incredibly hard work, a little start-up capital, long hours, and heroic levels of courage and self-reliance.

That may be true for 99% of entrepreneurs, but every once in a while someone completely bucks the trend and achieves success overnight seemingly effortlessly. One thing they do have however, is a very good idea, filling a gap in the market that their customers were crying out for.

These people achieved success lightning quick, making a fortune in their first month of trading. Many with a home business, without much start-up capital, or support. Some of them took longer than a month to set-up their business, but from the moment they started trading, or attempted to monetize their business, they made over a million dollars in their first month.

WINE: The Nolet Family Rereleases the World’s Most Expensive Gin

The art of distillation has been practiced for thousands of years; no one really knows who the first distillers were. However, we do know the name of the longest-reigning distilling family in the world. With a 322-year history of distilling, the Netherlands-based Nolet family is currently helmed by 10th-generation Carolus H. J. Nolet—the chairman of Nolet Spirits Worldwide—and his two sons Carl Jr., the executive vice president of Nolet Spirits USA, and Bob, the distiller and executive vice president of Nolet Spirits.

WATCHES: Omega Unveils New Limited-Edition Seamaster Diver for 34th America’s Cup

Omega commemorated the 34th America’s Cup sailing race, and celebrated its continuing role as Official Timekeeper for Emirates Team New Zealand, last week in San Francisco with the release of a special commemorative timepiece, the Omega Seamaster Diver ETNZ Limited Edition.

The watch was presented to ETNZ captain Dean Barker, who has been an Omega “brand ambassador” since 2001, by Omega President Stephen Urquhart during a special event held at the ETNZ base camp in the City by the Bay. After the press conference and presentation of the watch, Team New Zealand launched its new ETNZ AC72 boat into the Bay for a training session.