Headlines 

Welcome to Waltonville, Where the Worlds Richest Family Reigns

The largest family fortune on earth is run out of two floors of unmarked suites in Bentonville, Arkansas. The building is a discreet nerve center for the Walton family’s $152 billion hoard. There are plenty more overt signs of their success in the heart of the city. Walton’s former five-and-dime store in Bentonville, Arkansas. Photographer: Tom Metcalf/Bloomberg “Outside of monarchies, this is one of the greatest fortunes ever amassed,” said Andy Hart of Delegate Advisors, a multifamily office with locations in San Francisco and Chapel Hill, North Carolina. “Monarchies and…

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Shale Country Is Out of Workers and Dangling 100% Pay Hikes

Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian Basin shale-oil boom. It’s fueling the region and starving it at the same time. Sales-tax revenue is hitting a record high, allowing the city to get around to fixing busted roads. But the crazy-low 2.1 percent unemployment rate is a bear. As the proprietor of Mulberry Cafe and Gerardo’s Casita, Morales is working hard to retain cooks. As a Republican first elected in 2014, he oversees a government payroll 200 employees short…

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How to Launch an Acclaimed Winery for $8 Million or Less

Even by Napa Valley’s astronomical real estate standards, the sale of Heitz Wine Cellars for a reported $180 million raised eyebrows. It’s the new normal there, though: In response, some wineries have determined that it makes fiscal sense to find a less-expensive neighborhood. Jackson Family Wines, maker of Kendall-Jackson Chardonnay (the top selling chardonnay in the country), purchased its first vineyard in southern Oregon’s Willamette Valley in 2013. Today, the company owns and operates four wineries on more than 1,300 acres in the area, Oregon wines were served at the White House state dinner…

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This Rare Bear Who Called the Crash Warns Housing Is Too Hot Again

When real estate investors get this confident, money manager James Stack gets nervous. U.S. home prices are surging to new records. Homebuilder stocks last year outperformed all other groups. And bears? They’re now an endangered species. Stack, 66, who manages $1.3 billion for people with a high net worth, predicted the housing crash in 2005, just before prices reached their peak. Now, from his perch in Whitefish, Montana, he says his “Housing Bubble Bellwether Barometer” of homebuilder and mortgage company stocks, which jumped 80 percent in the past year, once again…

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One Tax Loophole Untouched So Far: The Trump Golf-Course Break

Republican lawmakers pushing to close dozens of tax loopholes have left open one that’s been good to President the outline for a sweeping tax rewrite on Thursday, a lucrative break for golf-course owners — including the president — remains firmly in place in the House version of the measure. The Obama administration estimated in 2014 that closing the controversial loophole would save more than $600 million over a decade. While Republicans are eliminating many write-offs, the House version of the bill allows golf-course owners to claim deductions for promising never to…

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Want to Stay Safe While Traveling? Wear a Rolex

Explorer and conservationist Philippe Cousteau is the grandson of ocean-mapping legend Jacques. Co-founder of EarthEcho International, an environmental nonprofit aimed at inspiring young people to work on sustainability, he travels the world filming documentaries from Sumatra to South Africa. In Cousteau’s latest show, the Travel Channel’s , he and his wife—former host Ashlan Cousteau—investigate stories of lost plunder across the Caribbean. He travels about 200,000 miles a year, usually on United Airlines. “I get Economy Plus for up to half a dozen people traveling with me automatically, if they’re on the same ticket,”…

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Odds and Ends 

The House From The Windows 95 Maze Screensaver Is Up For Sale

Get out your checkbooks, ’90s kids, because the iconic house that the Windows 95 maze screensaver was based on is now officially on the market. This northwest Washington chateau has been owned by Ron Fletcher for 30 years, but he’s looking to downsize from this winding, windowless labyrinth—which means some lucky buyer is going to own an iconic piece of computer history! The sprawling home has over 12,000 square feet of floor space, although the actual area can change drastically each time you enter the house, as all the paper-thin…

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‘I’m Going to Die’: Fear Grips Vegas Strip; Gunman Kills 59

Las Vegas (AP) — The rapid-fire popping sounded like firecrackers at first, and many in the crowd of 22,000 country music fans didn't understand what was happening when the band stopped playing and singer Jason Aldean hustled off stage. "That's gunshots," a man could be heard saying emphatically on a cellphone video in the nearly half-minute of silence and confusion that followed. A woman pleaded with others: "Get down! Get down! Stay down!" Then the pop-pop-pop noise resumed. And pure terror set in. "People start screaming and yelling and we…

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Odds and Ends 

Open Listings raised $6.5M to help you buy a home without an annoying agent

Open Listings, the YC-backed startup that lets buyers purchase homes and get a 50% refund on whatever fee their real estate agent would normally make, has raised $6.5M in Series A funding led by Matrix Partners.Initialized Capital and Arena ventures also participated as new investors. As a refresher, Open Listings is an end-to-end real estate platform for buyers meaning you can find a listing, book private showings, make an offer and complete all the necessary paperwork prior to sale. So how does Open Listings do these things without needing an…

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