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Corazon Cojuangco was born into one of the wealthiest families in the islands. Fated to be married off in one dynastic match or the other, she was courted by and fell in love with Benigno Aquino Jr., a brilliant and ambitious journalist turned politician whose own family was as illustrious though not quite as wealthy as her baronial clan. The marriage would help propel Benigno's career even as "Cory" was a cipher at his side, the high-born wife whose social ministrations at smoke-filled political sessions flattered her husband's supporters. Benigno's popularity soon challenged Ferdinand Marcos...

Author: /time Magazine | Title: People Power's Philippine Saint: Corazon Aquino | 8/1/2009 | See Source »

...since the Russian stock markets crashed in mid-September - Bloomberg has reported that Russia's top 25 wealthiest people have lost a collective $230 billion - Lebedev's campaign has acquired a new urgency. He has ridiculed the efforts of Putin and President Dmitry Medvedev to revive the economy, including bailouts for the oligarchs that he estimates at roughly $11 billion. He has announced plans for an English-language radio channel in Moscow; bought the London newspaper the Evening Standard; announced plans to launch a democratic political party with former Soviet leader Mikhail Gorbachev; and (briefly) run for mayor of Sochi...

Author: /time Magazine | Title: Alexander Lebedev: Rich Advice | 7/27/2009 | See Source »

Herein lies the reason for Lebedev's split personality. He is indeed an oligarch - the Russian magazine Finans reported that he was the 25th wealthiest person in the country in 2008, up from No. 46 in 2007. But he has never bent the knee to Putin. In Lebedev we find, if you like, the good oligarch - the Russian with whom Westerners can do business. He has made friends with prominent people in London (Elton John, Margaret Thatcher) and Hollywood (Kevin Spacey, John Malkovich), floating freely between boardrooms and state dinners. In March, Lebedev traveled to Washington with Gorbachev...

Author: /time Magazine | Title: Alexander Lebedev: Rich Advice | 7/27/2009 | See Source »

...Gleneagles, the leaders of the U.S., Japan and the wealthiest European countries vowed to supply $21.5 billion in aid to Africa by 2010, to help the continent work its way out of poverty by tackling dire problems in health and education. But with just a year to go, only $7 billion of the additional $21.5 billion has come through - with France and Italy accounting for the bulk of the shortfall, although that could rise to about $11 billion by the end of this year. The star of the donors is Britain, which is on track to become the first...

Author: /time Magazine | Title: Why Wealthy Nations Are Stiffing Africa | 6/12/2009 | See Source »

...that? You could start with the Metropolitan Museum. The nation's largest and wealthiest art museum is in no danger of disappearing. But having watched its mighty endowment shrink last year from $2.9 billion to $2.1 billion, its administrators decided a few months ago to cut staff 10%. The Met is not alone. Endowments have shrunk everywhere, and sizable budget cuts have been the rule at museums in Atlanta, Baltimore, Denver, Detroit, Indianapolis, Los Angeles, Philadelphia and San Diego. In February the 35-year-old Las Vegas Art Museum simply gave up and shut its doors for good...

Author: /time Magazine | Title: Culture Crunch: The Recession and the Arts | 6/8/2009 | See Source »

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