Los Angeles

FB Roundup: David and Simon Reuben, Tyler and Cameron Winklevoss, Mike Lynch

April 26, 2023

In this week’s FB Roundup, David and Simon Reuben are exploring ways to finalise an LA real estate deal; the Winklevoss twins give a $100 million personal loan to their own crypto exchange; and Mike Lynch loses his bid against US extradition.

David and Simon Reuben “exploring ways” to finalise LA real estate deal
According to Bloomberg, Indian-born British businessmen David and Simon Reuben are “exploring ways to finalise one of Los Angeles’s biggest real estate projects after taking control over major parts of the $2.5 billion plan through debt financing deals.”

Automation battle highlights costs of innovation for family businesses

May 2, 2019

A dispute between Danish shipping giant Maersk and Los Angeles (LA) dockers over plans to automate port vehicles has highlighted the challenges legacy businesses face balancing innovation with the social cost wreaked by disruption.

The family-controlled business is facing a backlash from the International Longshore & Warehouse Union over plans to use unmanned electric vehicles instead of diesel trucks to shuttle shipping containers around LA Port—the largest in the US.

Murdoch moves into winemaking business

August 29, 2013

Media mogul Rupert Murdoch, chairman of NewsCorp and 21st Century Fox, is moving into the business of winemaking, with the purchase of a $29 million (€22 million) property in the Californian suburb of Bel Air in the US.

The 13-acre property, Moraga Vineyards, produces about 1,500 cases of wine a year and includes staff quarters, a tasting room and wine cave. The sale includes $4 million of wine inventory.