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Billionaire John Paul DeJoria has sold his $6.9 million Texas ranch that comes with its own bomb shelter and 'exotic animals' collection

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dejoria house

John Paul DeJoria, the billionaire entrepreneur known for building John Paul Mitchell Systems and Patrón Spirits, has sold his Austin area home for $6.93 million, the Wall Street Journal reported.

The 96-acre property, which includes a four-bedroom home and ample land where some 120 "exotic animals" roam, was originally listed for $7.995 million in 2015 before reducing its price to $7.495 million a year later. 

In addition to his collection of gazelles, oryx, and antelopes, DeJoria added a fully stocked underground bomb shelter to his home. 

"I suppose if Armageddon comes I'll be prepared," the home's buyer, TV producer Jonathan Nowzaradan, said to the WSJ.

DeJoria's net worth is estimated to be as much as $3 billion.

SEE ALSO: 20 hilarious listing photos that show what not to do when putting your house on the market

The main house has about 7,500 square feet of space, and it's situated on an enormous lot in Dripping Springs, an Austin suburb.



The property includes parts of Fitzhugh Creek.



A large gate and Texas state flag marks the entrance.



See the rest of the story at Business Insider

Here's why we abbreviate pounds as lbs

Every apartment in this honeycomb-style building has a private pool on its balcony

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honeycomb 9

Many upscale apartment complexes include pools that residents can use. But a new residential building in the Bahamas is even more luxurious.

Set to be completed by 2017, the complex features apartment units that each have a built-in private pool on their balconies.

Bjarke Ingels Group, the architecture firm that designed the building, appropriately dubbed it the "Honeycomb." The units, which range from 3,000 to 8,000 square feet, start at $5 million.

Check them out below.

SEE ALSO: The world's tallest modular apartment building just opened in New York City — take a look inside

Located in the Albany luxury resort community in Nassau, Bahamas, the Honeycomb building will be eight stories tall.



Construction started in 2014, and the building is nearly complete. Joining three other luxury residences planned in the area, the Honeycomb will overlook a yacht marina.



Designing glass-fronted balconies that could support the weight of pool water (about half a million pounds worth) was no small feat, says William R. O'Donnell, the managing principal at DesSimone Consulting Engineers, which helped create the balconies' structure.



See the rest of the story at Business Insider

A Japanese town wants to create a spa-themed amusement park — and it looks amazing

The married stars of HGTV’s 'Fixer Upper' explain how a stint in county jail highlighted their deepest money disagreement

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Chip and Joanna Gaines

Shortly after the birth of their first child over a decade ago, Chip and Joanna Gaines, now the stars of HGTV's hit home-renovation show "Fixer Upper," experienced a financial wake-up call when Chip was thrown in the county jail for about $2,500 in unpaid tickets.

The tickets were issued after neighbors complained that the couple's dogs were illegally roaming the street in front of their house, they write in their new book "The Magnolia Story." To pay Chip's $800 bail, Joanna had to empty the cash register and safe in her small retail shop. It was then that she realized they "were right on the edge of a real financial struggle." She promised to never let it happen again.

"I have a naturally conservative nature, and Chip and I were supposed to balance each other out, not concede to each other's strengths and weaknesses," Joanna wrote of the ordeal. "My strength is saving and being tight with the money, and I had not exercised that strength recently."

Now, Joanna fully recognizes the importance of an emergency fund — something she credits her parents for teaching her to value.

"I think for me, the best lesson is always having a nest egg on the side," she told Business Insider in a recent interview.

Chip disagrees, however.

"He laughs because I had a nest egg going into our marriage," Joanna said. "And then that nest egg ended up [going] into an investment, and then within six months I was like, 'Well, it would've been nice to have that nest egg right about now.'"

Still, Joanna said she's "always liked the idea of putting money aside." And she advises her clients to do the same when it comes to renovating a home.

"If you have a $20,000 budget, plan on spending $15,000 — $5,000 will be money that just magically appears that you're going to need," Joanna said. "Something’s going to happen, something’s going to go wrong. So I'm always thinking 'Hey if I have this much, I'm always going to want this over here, just in case.' But not Chip."

Chip says his parents taught him the exact opposite.

"They taught me to take that nest egg and throw that thing out the window, and go for it. You only live once — there will be plenty of time to sleep when you're dead," Chip told Business Insider. He then asked Joanna, "Do we have a nest egg?"

"I learned early on that if you have a nest egg, you can’t tell him about it, because it will be gone," Joanna said.

Watch Chip and Joanna discuss their different views on saving money in the video below:

 

DON'T MISS: HGTV stars explain how an abandoned cotton mill in their Texas hometown became the smartest investment they ever made

SEE ALSO: HGTV stars who went from renovating houses to running a multimedia empire share their best advice for small-business owners

Join the conversation about this story »

NOW WATCH: BARBARA CORCORAN: When buying a house you should prepare for war

The 8 essential items you need in your car

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Hopefully your car is equipped with a properly inflated spare tire and a jack. But are you prepared to survive if you are stranded for several hours in the cold? How about a couple of days? Build this simple survival kit to feel better prepared when an emergency arises on the road. 

Refer to sources such as FEMA's kit for more suggestions to prepare for the worst.

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Here’s what it’s like to fly the new $999 foldable drone that could change the industry

HGTV stars explain how an abandoned cotton mill in their Texas hometown became the smartest investment they ever made

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Fixer Upper Magnolia Market

This month, Chip and Joanna Gaines, the stars of HGTV's hit home-renovation show "Fixer Upper," celebrated the first anniversary of the opening of Magnolia Market at the Silos, the Waco, Texas, headquarters for their growing retail brand.

The 2.5-acre space built around a pair of rusted cotton-oil mill silos is a large-scale model of what the Gaines — as renovators, business owners, and community advocates — are capable of. They're masters at transforming dilapidated properties while preserving history and character. They told Business Insider in a recent interview that this project, in particular, is the smartest investment they've made.

"At first when we looked at [the silos], it had been abandoned for years," Joanna said. "When we first drove up, we saw the land and there wasn't a lot of life to it, but just imagining what it could be ..."

Prompted by the reopening of Joanna's quaint retail shop in 2015 — which was drawing about 1,000 customers daily, in part due to the popularity of "Fixer Upper" — the Gaines decided to re-establish their growing business at the silos, they explain in their new book "The Magnolia Story." Joanna often admired the silos in downtown Waco and dreamt of reviving the property as a center for their community.

Fixer Upper Magnolia Market

But the road to renovation wasn't easy. Joanna shares in their book that Chip had to negotiate with the property's owners, who were tied to the history of the silos and hesitant to sell.

"I think a lot of people liked seeing them [downtown], whether they thought about it consciously or not," Joanna wrote. "So when we came along and said we wanted to preserve the silos as the landmark they are and to turn this property into something that could serve as a vibrant centerpiece for the whole community, he was interested."

The property at the silos now covers 16,000 square-feet of floor space housing the Magnolia retail shop and Silos Baking Co., a garden designed by Joanna, a large outdoor space for concerts and gatherings, and a collection of local food trucks. About 15,000 people visit the location weekly, according to HGTV, and Joanna writes that "it's also providing jobs to dozens upon dozens of new and long-time Magnolia employees."

"Now when we look at it, it's like, we're investing in our town, we're investing in downtown Waco, and I think that's definitely one of my favorite investments, by far," Joanna told Business Insider.

Watch more from the Gaines' interview with Business Insider below:

 

SEE ALSO: The stars of HGTV's 'Fixer Upper' share their best piece of advice for fellow entrepreneurs

Join the conversation about this story »

NOW WATCH: Here's how much you need to make to be in the top 1% of every state

A butcher’s guide to choosing the perfect steak

New York's hottest public elementary school is harder to get into than Harvard

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Walsh Elementary School

The elementary admissions process in New York City is utterly grueling, as evidenced by new kindergarten admissions workshops that have popped up around town.

But among exemplary schools, one stands out as the gold-standard of top public elementary schools: Hunter College Elementary School.

The irony that Hunter has the word "college" in its name shouldn't escape you. Hunter's level of exclusivity tops even that of Harvard University — but Hunter evaluates 4-year-olds instead of high school seniors. 

Hunter College Elementary is a K-6 school that is publicly funded and serves intellectually gifted students. It is administered by Hunter College, a college of the City University of New York.

The only entry point for Hunter is kindergarten. This means that if you get rejected the first time, you can't apply to the elementary school again. At Harvard there is always the option to transfer.

Each year, Hunter chooses 25 girls and 25 boys from all of Manhattan to be admitted to its incoming kindergarten class, according to its website. They're hand-selected from a pool of about 2,500 applicants, according to the website Inside Schools. To put that into perspective, that makes the acceptance rate for Hunter 2%. Harvard's undergraduate acceptance rate for the class of 2020 was 5.2%.

Prospective Hunter students must first take a Stanford–Binet IQ test administered in a formal setting. The school informs parents that they should not prep their children for testing and that they'll be disqualified if there's evidence they prepared a child for the exam.

The pool of students is then whittled down to 250 of the children with the highest scores.

The remaining applicants are brought in for an evaluation round where they are observed individually interacting with peers and one-on-one with teachers. The Admissions Selections Committee chooses kids without knowing their names or other identifying factors.  

Hunter is unbelievably difficult to get into for a reason. It has a reputation for providing an amazing learning experience to gifted students — all free of tuition charges. And Hunter College High School has an impressive list of notable alumni including Supreme Court Justice Elena Kagan.

SEE ALSO: An 11-year-old genius just graduated from college with 3 different degrees

Join the conversation about this story »

NOW WATCH: Here's how Floyd Mayweather spends his millions

Chip Gaines of HGTV's 'Fixer Upper' explains how to know when it's 'a no-brainer to buy' in real estate

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Chip and Joanna Gaines

Two years ago, Waco, Texas-residents Chip and Joanna Gaines debuted their now-hit show "Fixer Upper" on HGTV, the de facto television network for all things home improvement.

In a recent interview with Business Insider, the pair joked that while Joanna has become "America's sweetheart," Chip is "America's contractor."

When they married in 2003, Chip had begun flipping houses and renting them out to Baylor University students in Waco. He brought Joanna on board and she quickly discovered a hidden passion for home decor, opening a small boutique to sell her vintage finds, which would become the flagship of their ever-expanding brand.

Together they now own and operate Magnolia Homes, a real estate, renovation, and design company, in addition to several small businesses under the Magnolia brand, including a retail shop, bakery, furniture line, paint collection, and a "Fixer Upper"-style bed and breakfast.

Throughout his career as a contractor and a business owner, Chip has believed that "real estate has always been a vehicle for wealth." In order to build that wealth, the self-proclaimed "serial entrepreneur" prefers to buy property rather than rent.

"[E]ven when we were broke, I was investing constantly in properties," Chip told Business Insider. "Some properties we would own and rent out to college students that were around the university. Sometimes we would rent them out to local folks, and sometimes we would we live in them."

"So, for me, I have a very difficult time renting anything," he continued. "If I'm going to take office space, I want to own the building. If I want to buy a car, I buy it."

Chip says that people considering whether to rent or buy should ask themselves one question: "Is this asset going to depreciate in value?" If yes, then it's generally not worth purchasing. Chip acknowledges that this strategy holds true for the auto industry, though he admits that he still purchases cars rather than leasing.

"But in the housing universe, if you're confident or nearly positive that these assets are going to appreciate in value, it's a no-brainer to buy," Chip said. "If you get into complicated markets to where you're not confident, rent for a season, or rent for a year or two, and let the market sort of calm itself down before you jump in with both feet."

Watch more from the Gaines' interview with Business Insider below:

Join the conversation about this story »

NOW WATCH: BARBARA CORCORAN: When buying a house you should prepare for war

HGTV stars who went from renovating houses to running a multimedia empire share their best advice for small-business owners

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Chip and Joanna Gaines smiling still

Since its premiere in the Spring of 2014, HGTV's "Fixer Upper" has become one of the highest-rated shows in the network's history.

Watch just one episode and it's easy to see why: The show's stars, Chip and Joanna Gaines, are fun loving, witty, and bona fide experts at renovating run-down homes for families in the Waco, Texas, area.

Though "Fixer Upper" transformed the Gaines into a household name, the husband-and-wife pair have been true small-business owners for more than a decade.

In a recent interview with Business Insider, the Gaines — who live on a refurbished farm with their four children and dozens of animals — said their businesses wouldn't be as successful as they are today without the guidance and feedback of "good counsel."

"You’ve got to build relationships with your vendors, so when times get tough, you have this relationship with them where it's a mutual relationship where you can trust each other, but it's also a community of friends and counsel that can speak into your business," Joanna said.

When they married in 2003, Chip — a self-proclaimed "serial entrepreneur" — had begun flipping houses and renting them out to Baylor University students in Waco. He brought Joanna on board and she quickly discovered a hidden passion for home decor, opening a small boutique to sell her vintage finds, which would become the flagship of their ever-expanding brand.

"[E]ven when things are bad and you can't see over the bills, you've got this counsel that comes in and says, 'This is what we need to do.'" Joanna advises "just surrounding yourself with good, sound people that can help you see the big picture."

"I think of bankers, I think of attorneys, I think about both of our parents, who were always quick to give us a bit of advice," Chip added. "That, coupled with just great employees early on who were willing to stick it out and fight with us through thick and thin, were certainly the keys to our success."

They now own Magnolia Homes, a real estate, renovation, and design business, in addition to several small businesses under the Magnolia brand, including a retail shop, bakery, furniture line, paint collection, and a "Fixer Upper"-style bed and breakfast. The Gaines' book, "The Magnolia Story," debuted October 18 and chronicles the growth of their small business empire.

Watch Chip and Joanna share their advice in the video below:

 

DON'T MISS:  2 inexpensive tricks that could help your home sell for more money, from HGTV stars the 'Property Brothers'

SEE ALSO: 6 renovations that can hurt your home's resale value, according to HGTV's 'Property Brothers'

Join the conversation about this story »

NOW WATCH: The 'Property Brothers' raced to see who could build IKEA furniture fastest — it wasn't pretty

The unofficial Goldman Sachs gift guide for 2016

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Once again, it’s time for children everywhere to learn one of life’s most valuable lessons: Santa loves rich kids more.

This year’s gift ideas (our 4th edition) are an unapologetic, eclectic mix of the practical and the fantastical – the things a man wants but feels guilty buying for himself, as well as the things he needs but probably doesn’t even know it.

Provided that your pockets are deep enough, this is the only gift guide you’ll need.

John LeFevre is the creator of satirical and wildly popular @GSElevator on Twitter, and the author of the bestselling book, "Straight to Hell: True Tales of Deviance, Debauchery, and Billion-Dollar Deals," currently in development with Paramount as a major motion picture.

For his house

This year, I have my eyes on a rare Bernard Buffet ($250,000), Ronald Reagan’s doodles ($2,000), signed self-portraits of The Beatles ($15,000), and Tupac Shakur’s passport ($TBD). Someone please buy that before Pharma Bro does.



For his travels

The globetrotting gadabout needs this classic Tusting Waxed Canvas Weekend bag ($775), a universal MacBook charging station ($45) that includes 4 USB ports, a Kisha smart umbrella ($100) that tells you when it’s going to rain, and this Urban Carry G2 concealed, quick draw holster ($105). Handgun license sold separately.



For his gym bag

For the first time, I’ve decided to recycle a gift idea from last year’s list, mostly because I’ve never had so much positive feedback on any recommendation before. An investment banker / HBS alum poached Lululemon’s head of men’s design and started Birddogs ($55), the most comfortable shorts I’ve ever experienced. This will be the brand of 2017 – on every court, in every gym, and at every brunch table – so you might as well be ahead of the curve. Throw in this La Mer Skincare Set ($140), some sweat-resistant, wireless JLab Epic2 Earbuds ($99), and a Survival & Cross jump rope ($10).



See the rest of the story at Business Insider

Here's how the White House master bedroom has changed from president to president

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One of 132 rooms in the White House, the second-floor master bedroom is located in the president's private residence. The room wasn't always used as a bedroom, and different presidents and first ladies have had very different tastes. Here's how one of the most private rooms in the executive mansion has changed over the years.

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What it's like to eat at the $138-a-person restaurant where Trump dined with Mitt Romney

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Mitt Romney Donald Trump Dinner

President-elect Donald Trump and his chief of staff, Reince Priebus, dined with former Massachusetts Gov. Mitt Romney in New York City on Tuesday night.

Romney is being considered for secretary of state in Trump's administration.

The group's restaurant of choice was Jean-Georges, a restaurant with three Michelin stars at the base of the Trump International Hotel and Tower in Columbus Circle. Led by the acclaimed French chef Jean-Georges Vongerichten, who became an American citizen in 2014, the restaurant has earned numerous accolades since opening in 1997.

Diners can choose from a selection of prix fixe menus, with the least expensive, a three-course dinner, priced at $138 a person. There are also two six-course tasting menus that cost $218 a person, plus a two-course lunch for $58 each.

For wine pairings with each of your courses, you should expect to shell out an additional $168. It's a pricey meal, but is generally in line with what it costs to dine at New York's top-tier restaurants.

Jean-Georges also has a strict dress code: Men are expected to wear jackets, and jeans, sweatshirts, and sneakers are not allowed.

Trump, Priebus, and Romney enjoyed garlic soup, frog legs, and diver scallops for appetizers, while Trump and Priebus had prime sirloin for their entrees, according to Slate. Romney had lamb chops with a mushroom bolognese sauce, and all three had chocolate cake for dessert.

This is Trump's second meal out in New York since the election — earlier in November, he broke protocol to to have a meal at the 21 Club.

Eating at Jean-Georges is quite the experience. Here are just a few of the dishes you could expect to enjoy from some of the restaurant's tasting menus.

SEE ALSO: Here's a look at Trump and Romney's private dinner in New York

DON'T MISS: Trump broke protocol and went to this expensive former speakeasy — here's what it's like inside

The $138 prix fixe menu begins with a 'caviar creation,' should you opt to buy one for an additional $45. One of the options is a Meyer lemon gelée topped with caviar and crème fraîche.

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A second option for the caviar course is a toasted egg yolk with caviar and herbs on top.

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And the egg caviar is a third option.

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Malia Obama is going to Harvard next fall — here's where America's other 'first kids' went to college

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U.S. President Barack Obama and his daughter Malia walk from Marine One to board Air Force One upon their departure from O'Hare Airport in Chicago April 7, 2016.    REUTERS/Kevin Lamarque

Malia Obama has chosen to attend Harvard University in the fall of 2017 after she takes a gap year, the White House announced on Sunday.

Her announcement follows months of speculation about her choice after she went on a tour of the Ivies, Stanford, and New York University last year.

With an eye on first kids who were teenagers or young adults when their parents lived in the White House, as far back as President John F. Kennedy, we looked at their college choices.

While President-elect Trump's children fall outside the scope of this criteria, the four older ones all attended stellar colleges as well. Donald Jr., Ivanka, and Tiffany all graduated from the same alma mater as their father — The University of Pennsylvania — and Eric graduated from Georgetown University.

Take a look below to see who dropped out of college, who failed the bar exam, and whose parents didn't go to their graduation.

Lynda Bird Johnson Robb, University of Texas at Austin, Class of 1966

The oldest daughter of President Lyndon B. Johnson, Lynda Bird Johnson Robb attended the all-girls National Cathedral School in Washington, DC, and the University of Texas at Austin for college. She is the last first daughter to be married in the White House.



Luci Baines Johnson, Georgetown University School of Nursing and Health Studies, 1966 (did not graduate)

The younger daughter of President Johnson, Luci attended Georgetown University School of Nursing and Health Studies, but she was forced to drop out in 1966. She was married that year, and the school prohibited married students.



Tricia Nixon Cox, Boston College, Class of 1968

The oldest daughter of President Richard Nixon, Tricia attended Boston College and earned a degree in English. Her father served as a guest speaker at her graduation.



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The 15 US cities where residents have the healthiest finances

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Seattle couple skyline

Money continues to be a leading cause of stress in America today, and much of it revolves around the struggle to get our financial houses in order.

But making an effort to tackle the basics — like building good credit, minimizing debt, saving for emergencies, and preparing for retirement— can make all the difference.

Personal-finance site WalletHub recently conducted its ranking of the best cities for financial fitness in America, zeroing in on residents from the 150 largest metro areas. Each metro was ranked in five categories that WalletHub deemed crucial to financial well-being: credit standing, responsible spending, savings, risk exposure, and earning power. (Read their full methodology here).

Three of the top five cities with the most financially fit residents are in California, including San Francisco in the No. 1 spot and the Bay Area-city of Fremont coming in at No. 2.

Below are the top 15 US cities as well as their ranking in each of the five categories of financial fitness.

All population figures are from the US Census Bureau's July 2015 population estimates.

SEE ALSO: Here's how much you need to earn to be in the top 1% of every US state

DON'T MISS: Here's the salary you have to earn to buy a home in 19 major US cities

15. Lincoln, Nebraska

Population: 277,348

Credit standing: 10

Responsible spending: 14

Savings: 121

Risk exposure: 66

Earning power: 24



14. Plano, Texas

Population: 283,558

Credit standing: 29

Responsible spending: 23

Savings: 71

Risk exposure: 42

Earning power: 5



13. Gilbert, Arizona

Population: 247,542

Credit standing: 75

Responsible spending: 43

Savings: 84

Risk exposure: 18

Earning power: 1



See the rest of the story at Business Insider
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