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Twitter is looking to go public. No one knows when, but the company filed a “confidential” S-1 IPO with the SEC. How much is the company worth? GigaOm was told hedge funds tried to buy it for $14 million. I'm sure they'll tweet more information about the decision, until then users can entertain themselves with pictures of food and other's opinions on Syria condensed into 140 characters. [Mashable]
On Saturday, boxer Floyd Mayweather will take on Saul “Canelo” Alvarez for the WBA, WBC and Ring magazine belts. It's not just a big fight because Alvarez is Oscar De La Hoya's protege, it is also bringing in $41 million to Mayweather and costs $75 on pay-per-view. It has been said this will be the highest-grossing event in boxing history. Curious about how Mayweather spends his millions? Just to name a few crazy money related quirks: he has a single bank account with $123 million in it, carries hundreds in Ziploc bags, has two fleets of luxury cars (all the cars in Miami are white and all the cars in Vegas are black), he only wears shoes once and he spends $6,500 per year on boxers (he throws them out after one use.) [Business Insider and USA Today]
The Dow Jones told three companies they can't sit at the cool kids table anymore. On Sept. 20, Goldman Sachs, Visa and Nike will replace Alcoa, Bank of America and Hewlett-Packard in the Dow. Unfavorable stock prices and the index committee's desire to shake up the companies represented led to the change. “You can't sit with us,” the Dow said. [New York Times]
Neiman Marcus' owners sold the department store chain for $6 billion. That price is $1 billion more than they paid for the company in 2005 — you can't argue with that. Ares Management LLC and the Canada Pension Plan Investment Board are the new owners of Neiman. Some investors see the deal as a revival in the luxury retail segment, which would mean people have more money to spend on diamond-crusted forks and sterling silver Slinkys (i.e. ridiculous things.) [Reuters]
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