August 24, 2015

HI THERE Silicon Valley insiders talk of the "Paypal Mafia", a dozen fabulously wealthy men who were involved in the creation and development of the global online payment company. Their number includes three certified billionaires, many whose wealth runs in to hundreds of millions of dollars, and the founders of a string of massively successful companies including Youtube, LinkedIn, Yammer and Yelp. It's said in the Valley that if you have a great idea, the Paypal Mafia are the first people to approach. Two South Africans are among those 12 superstar entrepreneurs. Interestingly, both were born in Pretoria. Elon Musk was the biggest shareholder at Paypal when the company was sold to eBay in 2003. He doubled down the $165m he got from that sale to build an even bigger business at Tesla and SpaceX, and also found time to bankroll his cousins Lyndon and Peter Rive, also from Pretoria, in what's today the US's biggest retail renewables business, SolarCity Corp (market cap: R60bn). Best

Profiting at the expense of SA’s health: Competition report takes aim at private providers The probe was initiated by the Competition Commission amid broader concern that private healthcare is only available to a minority of people who can afford it...  Read» Share this story:

Murder in a Newcastle parking lot makes SA’s crime rate very real Newcastle’s Steelburger news website reported on Friday that Rick had been beaten to death in broad daylight outside the local Shoprite...  Read» Share this story:

New York, Crystal City joint winners in Amazon game of monopoly – The Wall Street Journal New York City and Northern Virginia will be the homes for Amazon's second and third headquarters, according to people familiar with the matter...  Read» Share this story:

Another Zuptoid favourite falls; Malusi Gigaba resigns from cabinet South African Home Affairs Minister Malusi Gigaba succumbed to pressure to quit after a court found he’d lied under oath and a compromising video of him was circulated on social media...  Read» Share this story:

Blackouts back on radar as coal shortage grips Eskom Stocks of coal remain low at Eskom's 15 baseload stations,…..  Read» Vodacom shares extend decline to 17% year-to-date; despite improved earnings Vodacom Group Ltd. said first-half earnings improved after the wireless…..  Read» Pravin Gordhan to appear before Public Protector; clears up some facts Malatji Kanyane Incorporated places on record particular facts about their…..  Read» Advertisement

Blackouts back on radar as coal shortage grips Eskom Stocks of coal remain low at Eskom's 15 baseload stations, presenting a risk of power cuts at any time in South Africa just as it makes efforts to regain investment...  Read» Share this story:

Vodacom shares extend decline to 17% year-to-date; despite improved earnings Vodacom Group Ltd. said first-half earnings improved after the wireless carrier with the most South African customers saw accelerated data sales and a pick-up in international markets...  Read» Share this story:

News in 90 Seconds powered by

Sucking up to China a bad idea - especially now

Listen Now»

Biznews Shop
		How To Invest on the JSE Like Warren Buffett R99.99: Instant Download Learn how Warren Buffett's philosophy and investment strategy can be applied to the JSE A South African guide on investing like Buffett by award-winning financial publisher Alec Hogg. Learn how the investment genius of Warren Buffett can be applied to South African investing. Packed with invaluable lessons and insights from the world's greatest wealth creator. Instant download for reading on your PC, Tablet, eReader or Mobile Device. Audio version available for easy listening.

Email sent to: rowan@polovin.com   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Biznews: Media Suite, Johannesburg Stock Exchange, Sandton, South Africa