VENTURE CAPITAL POST

An entrepreneur who made his fortune building a $14 billion tech company is setting up a life science venture capital fund. The Israel-focused fund will target maturing life science startups with a view to helping companies grow into the next Teva ($TEVA) rather than sell up or outlicense their programs.

Political groups that took advantage of loosened campaign-finance rules spent hundreds of millions of dollars in the 2012 U.S. presidential election. This year, they're cropping up in state and local races as well.

Rakuten Inc sought court action to stop the passage of the bill to prohibit the over the counter sales of certain drugs over the Internet.

At his financial mightiest, Eike bankrolled social services in Rio de Janeiro.

The US Securities and Exchange Commission has charged Mark Cuban of insider trading.

French billionaire Vincent Bollore is Vivendi's largest shareholder and is not seeking a paying position in the French conglomerate.

Apple's stock rose after Carl Icahn expressed his interest in the company amid the release of Apple's new products.

A Swiss shop clerk told Oprah Winfrey that a crocodile handbag worth US$38,000 was "too expensive" for her which sparked racist slur.

Billionaire Elon Musk would receive US$4.3 million in share-based pay for his recent work on Tesla's Model X sport-utility vehicle.

Tesla Motor Inc. rallied 14% after posting its second quarter earnings report which helped the fortune of Elon Musk to rocket by US$570 million yesterday.

Groupon pinned its turnaround on billionaire venture capitalist Lefkofsky who was recently appointed as the chief executive officer.

Serge Godin became a billionaire after the merger of CGI Group Inc and Logica Plc.

Batista's worth went down 74% after losing more than US$30 billion.

Egypt will be seeing more investments from Billionaire Naguib Sawiris and his family.

Chinese entrepreneur Cai Rongjun became a billionaire after his touchscreen manufacturer company advanced its stocks.