The-rise-and-fall-of-Allbirds-The-sneaker-company-once.jpeg

The rise and fall of Allbirds: The sneaker company, once valued at $4 billion, just sold for $39 million

Editor’s note: This list was first published in August 2023 and has been updated to reflect recent developments.

After years of losses, Allbirds has agreed to a sale.

The company announced on Monday that it would be acquired by American Exchange Group, a New York-based fashion and consumer goods company, for $39 million.

The announcement follows several years of plummeting sales for the shoemaker, once famous for its wool sneakers worn by tech bros and venture capitalists. At the height of its popularity, during its IPO trading debut in 2021, its stock soared about 116% and gave the company a $4 billion valuation. It has reported declining net revenue every quarter since 2022.

In November, the company posted quarterly net revenue of $33 million, a 23.3% decrease from the same period a year earlier.

The company had 23 stores globally, including 21 in the US, at the end of September 2025 — down from over 50 stores worldwide at the end of 2022 — and said earlier this year it planned to close nearly all remaining stores.

Here’s a history of Allbirds and how it went from a buzzy sustainable footwear brand to a company on the brink.

Tim Brown and Joey Zwillinger cofounded Allbirds in 2015 as a sustainable-footwear company

Tim Brown and Joey Zwillinger, the cofounders and co-CEOs of Allbirds. 

Allbirds

According to its initial filing with the SEC, Allbirds’ mission was to “make better things in a better way, through nature.” 

Zwillinger previously worked as a vice president of industrial products at a biotechnology company


Joey Zwillinger, who is sitting in a boat, and Tim Brown posing for a picture on a dock with boats moored around them.

Allbirds’ Joey Zwillinger and Tim Brown. 

Allbirds

Brown’s background included serving as the vice-captain of New Zealand’s soccer team.

Allbirds roared to life in 2016 with a Kickstarter campaign that hit its $30,000 goal in five days.


Allbirds' Kickstarter page where a banner has been added to note that their wool runner shoes are now sold out.


Kickstarter

The company raised nearly $120,000 to make a wool running shoe designed to make a lighter environmental impact than traditional athletic shoes.

In 2016, Allbirds received B Corp certification, a designation given to companies that work to advance environmental and social causes, and shareholder concerns.


A model's legs from the thigh down. They are wearing green trousers and AllBirds Wool Runners.


Allbirds

For Allbirds, the designation codified, “how we take into account the impact our actions have on all of our stakeholders, including the environment, our flock of employees, communities, consumers, and investors.”

In only its second year in business, Allbirds gained the title of world’s most comfortable shoe.


A man sitting on a flower-lined sidewalk with his legs out to show off his Allbirds wool runners.


Allbirds

Time magazine said Allbirds’ hero product, the Wool Runner, was the “World’s Most Comfortable Shoes.”

By 2017, Allbirds, Warby Parker, and Casper were considered among the “DTC pioneers” shaking up their respective industries — sneakers, eyeglasses, and mattresses.


A street window looking into a Warby Parker store with artistic patterns on the walls.

Warby Parker and Allbirds were among the DTC pioneers. 

Interim Archives/Getty Images

By 2018, direct-to-consumer business plans proliferated. In 2018, Inc. reported that more than 400 startups were trying to “become the next Warby Parker.”

Allbirds sneakers became synonymous with Silicon Valley dressing


A screenshot of an article by The New York Times article with an image of a model wearing a pair of Allbirds sneakers.


The New York Times

In August 2017, Allbirds got another shot of national publicity when The New York Times described Wool Runners as part of the Silicon Valley uniform.

A month later, Allbirds opened its first store,


Multiple pairs of sneakers lined up on a wall in Allbirds' first store in Soho, New York City.

The first Allbirds store was in NYC’s Soho neighborhood. 

Business Insider/Jessica Tyler

The 1,450-square-foot store is located in New York City’s Soho neighborhood. In 2022, the company operated 58 stores.

By 2020, Allbirds’ popularity had spread well beyond Silicon Valley. President Barack Obama was repeatedly spotted wearing Wool Runners.


President Barack Obama standing at a podium and speaking with his finger raised in a questioning manner.

Former President Barack Obama has worn Allbirds sneakers. 

Brynn Anderson/AP

But the shoe started to fall out of favor with the trendsetters and the press, with GQ even lamenting the sight of Obama wearing them. “Can’t someone send him a pair of Jordans?” the magazine wrote.

Allbirds launched the Dasher in 2020.


A promotional-style image of Allbirds Tree Dasher in front of a white background.

Allbirds’ Wool Runners. 

Allbirds

With the success of Wool Runners waning, Allbirds launched its first performance-running shoe, called the Dasher, in May 2020. Gear Patrol called it “shockingly good.”

Also in 2020, Allbirds partnered with Adidas to make a low-carbon shoe, another sign of the company’s willingness to disrupt industry norms.


Adizero x Allbirds sneakers

The Adizero x Allbirds 2.94 kg CO2e. 

Allbirds

Large footwear brands are typically reluctant to partner with one another. The shoe, called the Adizero x Allbirds 2.94 kg CO2e, had the lowest carbon footprint of any Adidas or Allbirds sneaker.

In August 2021, ahead of a public offering, Allbirds disclosed growing annual sales and mounting losses.


A woman walking inside an Allbirds store, with sneakers on the wall behind her.

People shopping inside an Allbirds store in NYC in 2021. 

Spencer Platt/Getty Images

Sales increased from $193.7 million in 2019 to $219.3 million in 2020, but losses also increased, growing from $14.5 million in 2019 to $25.9 million in 2020. 

Allbirds went public in 2021.


allbirds


Allbirds

A little more than 2,100 days after it launched its Kickstarter campaign, Allbirds went public on November 3, 2021. Shares soared 90% on the opening day of trading, a sign of Wall Street’s bullish outlook for the company.

Allbirds dropped claims about being the first “sustainable” IPO.


A wall with sneakers on display in the Allbirds store in Soho.

The Allbirds store in Soho. 

Business Insider/Jessica Tyler

After the Securities and Exchange Commission objected, Allbirds dropped claims about being the first “sustainable” IPO, the Financial Times reported in November 2021.

Allbirds launched wholesale in 2022.


A set of doors outside a Nordstrom department store.


Jeff Greenberg/Contributor/Universal Images Group Editorial via Getty

Although it was launched as a direct-to-consumer company, in May 2022, Allbirds announced its first wholesale partners, Zalando and Public Lands, then Nordstrom — a signal that DTC sales would not be enough to get the company to profitability.

As Allbirds added wholesale partners, the backlash began to build against DTC companies.


The Allbirds store in Green Hills, Nashville.

Allbirds has announced plans to slow store openings and increase wholesale partnerships. 

Allbirds

“It’s the de-DTC era,” said Simeon Siegel, the managing director for equity research at BMO Capital Markets. Analysts including Siegel said the benefits of direct sales were often overstated.

As DTC companies started to fall out of favor and investors started to pay more attention to profitability, Allbirds’ stock started to drop.


A blue and red collage depicting Allbirds's drop in stock price over the last six months.


Allbirds; Insider

Allbirds shares, which hit $28.64 on the company’s first day of trading, had fallen to under $5 fewer than eight months later. Stock pickers said the company needed to expand beyond Wool Runners.

In 2022, Allbirds officially lost its novelty in Silicon Valley wardrobes.


A screengrab of an Allbirds story from The Wall Street Journal which includes an image of a flock of birds are attacking a scarecrow that is dressed up like a


Wall Street Journal

Roughly five years after The New York Times christened Wool Runners part of the Silicon Valley uniform, The Wall Street Journal in December 2022 said that “tech bros” had moved on.

In March 2023, Allbirds’ shares plummeted 47% after a disastrous earnings report that included a $101 million annual loss.


A promotional-style image of Allbirds' Tree Flyers in front of a white background.

Allbirds’ Tree Flyers. 

Allbirds

On a call with stock analysts, executives announced a sweeping four-part reorganization, including slowing the pace of store openings, adding more wholesale partners, and working to “reignite product and brand.” Co-CEO Joey Zwillinger also said some of the company’s marketing veered too far from what Allbirds consumers wanted, including marketing for the Tree Flyers, above, which focused on its technical-performance attributes.

Allbirds began to rethink its big bet on DTC.


A logo for Dick's Sporting Goods on the side of a building.


Reuters

As part of the reorganization plan, Zwillinger said the company was considering adding more wholesale partners. By then, the company’s wholesale partners included Nordstrom, REI, Scheels, and Dick’s.

In 2022, while still based in San Francisco, Allbirds quietly opened an office in Portland, Oregon, to take advantage of the city’s talented-footwear workforce.


Allbirds' office, a red building on a city street in Portland, Oregon.

In 2022, Allbirds opened an office in Portland, Oregon. 

Matthew Kish/Business Insider

Nike is based in a Portland suburb, and Adidas has its North American headquarters in the city.

Allbirds hired several Nike and Adidas veterans to run the office, including Ashley Comeaux, who spent more than 10 years at Nike before becoming Allbirds’ vice president of product design.

In early 2023, Allbirds released a string of products designed and developed by Comeaux and her team.


A model in a white gown jumping out of frame to reveal a grey pair of SuperLight sneakers.

SuperLights, the latest shoe from Allbirds, doesn’t have a Strobel board, which makes the shoe lighter and more comfortable. 

Courtesy Allbirds

Risers and Pacers got strong reviews from Business Insider.  Although the new products were well received, shares of the company traded below the $15 IPO price, trading for $1.23.

In March 2023, Allbirds announced disappointing earnings, and Zwillinger told analysts that the company had lost focus on its core.


Allbirds M0.0nshot carbon neutral shoes

Allbirds claims its M0.0NSHOT is the world’s first carbon-negative shoe. 

Allbirds

Since then, the company has focused on its best-sellers, the Wool Runner and Tree Dasher, while it discontinued underperforming products, like much of its apparel, the Wall Street Journal reported. 

In June 2023, the company released what it said was the world’s first carbon-negative shoe, which it calls the M0.0NSHOT.

In May 2023, Allbirds announced a leadership shake-up.


Allbirds cofounder Tim Brown

Allbirds co-founder Tim Brown 

Tommaso Boddi/Getty Images

Brown said he would step into the role of chief innovation officer, leaving fellow cofounder Joey Zwillinger as the sole CEO.

The company also laid off 21 employees globally in May 2023, it said in a filing with the US Securities and Exchange Commission.


allbirds 2847

An Allbirds store. 

Business Insider/Jessica Tyler

The shoe company generally had a disappointing start to 2023. The company reported a 13% decline in year-over-year revenue in the first quarter.

‘As we’ve tried to expand and grow the brand, we created products that haven’t quite met the mark,’ Brown told The Wall Street Journal.


A pair of the Allbirds Tree Flyer in the Blizzard color.

The Allbirds Tree Flyer sneakers. 

Mara Leighton/Insider

In a July 2023 article, Brown and Zwillinger told The Wall Street Journal that their attempts to appeal to customers younger than its 30- to 40-year-old base didn’t go over well. The Tree Flyer was one of those attempts that missed the mark. 

The company reported second-quarter earnings were above expectations. Sales fell 10% compared to a projected 18%.  

“We laid out a road map for our strategic transformation back in March, and now two quarters into our work, we have gained traction and are solidly on track to drive toward profitability expectations,” Zwillinger said in an August 2023 earnings call. 

In November, Allbirds released an updated version of its first Wool Runner.


screenshot of new wool runner advertised on allbirds website

The new Wool Runner is available on the Allbirds website. 

Allbirds/Screenshot

The Wool Runner 2 has been updated with a new version of its SweetFoam midsole and improved durability.

Full-year earnings for 2023 were dismal indeed, with sales down 14.7% and a net loss of $152.5 million for the year.


The Allbirds Pacer doesn't look anything like the company's iconic Wool Runner.


Courtesy Allbirds

The company also promoted Joe Vernachio from COO to CEO, with Zwillinger stepping down to serve as a special advisor and remaining on the board of directors.

The company continued to struggle with declining sales.


Allbirds store

Earlier this year, the company said it would close most of its remaining stores. 

Business Wire/AP

Allbirds lost more than $20 million in the quarter ending September 30, according to its most recent earnings report. The company noted “substantial doubt” about its future in that filing and said it could “engage in strategic transactions.”

From March 2025 to March 2026, shares slid more than 50%.

In January, the company said it would close its remaining full-price stores in the US by the end of February, leaving it with two discount stores in the US and two full-price stores in London. The US made up the bulk of its revenue.

Allbirds said in March 2026 that American Exchange Group would buy it for $39 million.


An Allbirds store on Fifth Avenue in New York, US, on Wednesday, May 4, 2023. Allbirds Inc. is scheduled to release earnings figures on May 9.


Bloomberg/Getty Images

Allbirds said in a statement on Monday, March 30, that American Exchange Group, a New York-based fashion and consumer company, would acquire it for $39 million.

The company added in the statement that the sale would close in the second quarter. The distribution of the net proceeds of the sale to stockholders would be made in the third quarter, it said.

Allbirds’ stock has fallen about 50% in the past year. However, it rose about 24% in after-hours trading on Monday after the sale was announced, to $3.70 per share.

Matthew Kish, Ben Tobin, and Jennifer Ortakales-Dawkins contributed to earlier versions of this article.




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Step inside the Gilded Age mansion that just sold for $34.5 million after years in bankruptcy

  • Bidding has closed on a 1901 mansion where Oleg Cassini designed fashions for Jacqueline Onassis.
  • On Wednesday, a bankruptcy judge approved a $34.5 million top bid for the Gilded Age townhouse.
  • Look inside the Beaux-Arts beauty and read about its contentious, sometimes violent history.

A 20-room Gilded Age mansion, once the atelier of fashion designer Oleg Cassini, is under contract at a bargain discount: $34.5 million.

A federal bankruptcy judge signed off on the mystery buyer’s winning bid on Wednesday, approving a price tag for the 18,000-square-foot Manhattan townhouse that’s nearly half the original asking price of two years ago.

The bankruptcy — in which two octogenarian sisters, one of them Cassini’s widow, were forcibly removed from the home by federal Marshals — caps a history of transformation.

Built steps from Fifth Avenue’s “Millionaire’s Row” as a stockbroker’s statement mansion in 1901, the stately limestone home was subdivided into apartments throughout the ’60s and ’70s.

And before his death in 2006, Cassini sketched wardrobes for longtime client Jacqueline Kennedy Onassis by the light of a towering window spanning the six-story home’s two topmost floors.

As the new buyer prepares to move in as early as next month, let’s take a look at the stunning rooms and tumultuous history of 15 East 63rd Street.

The 125-year history of the House of Cassini begins and ends with unwelcome intrusions.

The limestone facade of the House of Cassini, a 1901 Gilded Age mansion on Manhattan’s Upper East Side.

Evan Joseph for Sotheby’s International Realty

For all its serene style, the story of the House of Cassini begins and ends with a violent forced entry.

Its first owner, a millionaire broker and banker, was bludgeoned and robbed by armed burglars who broke in soon after his Beaux-Arts beauty was built.

A century later, its most recent owner — Cassini’s 85-year-old sister-in-law, Peggy Nestor — would be physically pulled from the home by federal Marshals, who busted open the brass front door to enforce a bankruptcy judge’s 2024 eviction order.

“They put me on the street in a robe!” Cassini’s widow, Marianne Cassini, also in her 80s, told the judge of being evicted along with her sister and their niece.

The sisters battled in the courts for a decade to manage rising debts.


A fireplace mantle featured a photo of fashion designer Oleg Cassini with longtime client Jacqueline Kennedy from back in her days as First Lady.

A fireplace mantle featured a photo of fashion designer Oleg Cassini with longtime client Jacqueline Kennedy when she was First Lady.

Evan Joseph

For the past decade, the two sisters have battled in state and federal court to keep the home they purchased together in 1984, 12 years after Marianne’s secret marriage to the designer (the union was revealed only after Cassini’s death). Nestor, Cassini’s sister-in-law, took sole title in 2016, according to court papers.

The sisters ultimately lost their battle against the eviction and the bankruptcy judge’s final 2024 order that the home be sold to satisfy more than $30 million of Nestor’s mortgage debts and liens.

“Enough, enough, enough — we’re done,” a frustrated-sounding Judge Michael E. Wiles told the protesting sisters in approving the sale at a hearing on Wednesday.

“It’s in the court file, for heaven’s sake,” Wiles said, rejecting the pair’s repeated claim that they remain co-owners and that rent-stabilization laws somehow bar their eviction from the single-family residence.

In the two years since the eviction, the home’s sale price had plummeted — from $65 million under Sotheby’s International Realty, to $39.5 million under its latest listing with Brown Harris Stevens, to the current $34.5 million purchase agreement.

First stop on our look inside: an ornate and unusual vestibule.


The House of Cassini entryway features an unusual vestibule of marble, brass and curved glass.

The House of Cassini entryway features an unusual vestibule of curving marble, brass, and glass.

Evan Joseph for Sotheby’s International Realty

Before diving into the home’s tumultuous history and tranquil interior, it’s worth pausing at the front door, where the original vestibule still greets visiting guests.

Built of curving marble, brass, and glass, the unusual structure served as an airlock — a buffer against the cold in a home warmed by 14 fireplaces.

Marble, glass, and brass bend together to frame the vestibule.


A closeup of the Cassini mansion vestibule shows its unusual, turn-of-the-century curve of marble, brass and glass.

A close-up of the Cassini mansion vestibule shows its turn-of-the-century beauty.

Evan Joseph

In the summer, the vestibule helps keep in the central air conditioning, a much later and controversial addition.

In 2006, next-door-neighbor Neil Diamond sued Nestor, saying her new rooftop cooling unit illegally added 13 feet to the height of her building.

The “Sweet Caroline” and “Song Sung Blue” singer sought $2 million in damages for the obstruction of views from his terrace. They settled for an undisclosed sum in 2010.

The 1901 mansion was a wealthy stockbroker’s statement home, steps from Manhattan’s “Millionaire’s Row.”


The first floor boasts white marble floors and a sweeping marble staircase.

The first floor has white marble floors and a sweeping marble staircase.

Evan Joseph for Sotheby’s International Realty

The home’s story begins with Wall Street stockbroker Elias Asiel, who purchased 15 East 63rd Street in 1885 as a new Victorian brownstone.

Asiel had grander plans. He hired one of the top architects of the day, John H. Duncan, to reimagine the 25-foot-wide property as a limestone-clad mansion to rival any on the nearby stretch of Fifth Avenue known as “Millionaire’s Row.”

Duncan had just finished the General Grant National Memorial — a mausoleum for the 17th president and Civil War hero, overlooking the Hudson River — when he went to work for Asiel in 1897.

Entering Duncan’s design tour-de-force, guests can cross a 46-foot, marble-tiled gallery to an oval-shaped dining room, or climb a sweeping, curved staircase to the parlor level.

The dining room was the first stop for a pair of burglars in a 1906 break-in.


This view of the House of Cassini's dining room shows its stunning mirrors and the toll taken by time upon the carved wood paneling.

This view of the House of Cassini’s dining room shows its stunning mirrors and the toll time has taken on the carved wood paneling.

Evan Joseph

The dining room, enclosed by pocket doors, mirrors, and fading, carved wood paneling, played a role in a 1906 break-in that left Asiel bloodied and bereft of his silverware.

The pre-dawn, gunpoint robbery was front-page news. “Elias Asiel Pounded Insensible with Brass Knuckles in Bedroom,” blared a headline in the evening edition of the Sun.

According to accounts in four city newspapers, the two robbers broke into the basement service door with a saw and a diamond glass-cutting blade.

Awakened upstairs in bed, Asiel was no easy mark.

He got in a good punch or two before being beaten with brass knuckles and bound at the wrists and ankles “with stout pieces of cord.”

He also refused to give up the combination to his safe, which contained “a fortune in gems” — heirloom jewelry he would bequeath to his daughter, asleep one floor up.

Struggling free in his bedroom, Asiel cut short the robbery.


The sitting room adjoining the mansion's master bedroom, site of a violent struggle a century ago.

The sitting room adjoining the mansion’s master bedroom.

Evan Joseph for Sotheby’s International Realty

“Would one of you please wipe the blood out of my eyes?” the trussed broker asked as the pair ransacked his bedroom.

The younger burglar paused to wet a cloth in the adjoining bathroom and gently wiped Asiel’s eyes, an act of kindness that later swayed a judge to impose a mere five-year sentence.

The robbers pocketed Asiel’s $250 gold watch, 12 of his pearl-and-sapphire scarf pins, and $90 in cash. They then headed back downstairs to the dining room, where they’d left Asiel’s silver in a pile to grab on the way out.

The two managed to pack up just three dozen forks and four dozen spoons when they were interrupted. Wriggling free of his ties, Asiel pulled a bedside bell cord to wake the seven sleeping servants, and was shouting for help out the window.

The thieves fled into nearby Central Park, leaving most of the silver on the sideboard. They were caught and convicted some two years later.

On the second floor — a library and drawing room.


This view of the Cassini mansion's second floor library shows its wood and marble paneling and one of two windows overlooking 63rd Street.

The Cassini mansion’s library overlooks 63rd Street.

Evan Joseph for Sotheby’s International Realty

The mansion’s two most exquisite spaces — a wood-clad library and a bright drawing room — are at either end of the mansion’s second level, the “parlor floor,” where the ceilings are 17 feet high.

The wood and marble-clad library faces the front of the building, its two tall arching windows overlooking leafy East 63rd Street.

The library’s ceiling is the nesting site of four pairs of winged and clever cherubs.


This photo shows the ceiling of the Cassini mansion's library, where owls stand watch and pairs of winged cherubs gazing upon Latin-inscribed scrolls.

The library’s ceilings are populated by watchful owls and pairs of cherubs gazing upon Latin-inscribed scrolls, the room’s only reading material.

Evan Joseph/Sotheby’s International Realty

Photos of the library show no bookshelves. But there is reading material, if you’re a cherub.

Pairs of the erudite tykes roost in each corner of the elaborately coffered ceiling, holding scrolls enscribed in Latin.

“Malo Esse Quam Videri,” reads one, paraphrasing Cicero — “I would rather be than seem.”

The drawing room is a bright sanctuary.


The House of Cassini's second floor drawing room looks like a wedding cake, frosted with garlands and roses.

The House of Cassini’s drawing room looks like a wedding cake, frosted with garlands and roses.

Evan Joseph for Sotheby’s International Realty

The second-floor drawing room is a bright sanctuary where sunlight from the terrace floods inside through two French doors and alights mirror to mirror.

The room resembles an intricate wedding cake, frosted with garlands of roses.


Garlands of plasterwork roses ring the second floor's sunny drawing room.

Garlands of plasterwork roses ring the second floor’s sunny drawing room.

Evan Joseph for Sotheby’s International Realty

A profusion of plasterwork decorates the ceiling and walls, ringing the space in garlands of budding and full-flower blooms.

The effect is like standing atop a wedding cake, under a rose bower, and enclosed by a house of mirrors all at once.

“Elegance upon elegance upon elegance,” Louise Beit, the mansion’s previous broker, enthused of the drawing room, in a YouTube tour of the home last year.

A spacious gallery connects the library and drawing room, and features a balcony for “string quartets” to perform.


The Cassini mansion's second floor gallery connects the library and the drawing room.

The Cassini mansion’s second-floor gallery connects the library and the drawing room.

Evan Joseph for Sotheby’s International Realty

A spacious gallery connects the second floor’s library and drawing room.

“Standing here in the gallery, you can feel how they love lavish entertaining in the Gilded Age,” said Beit, of Sotheby’s International Realty.

“You can greet your guests at the top of the steps with a string quartet entertaining you from the balcony.”

Asiel died in his bedroom in 1920, at age 69.


Another view of the Cassini mansion library shows light from East 63rd street streaming in through a pair of tall, arched windows.

Another view of the Cassini mansion library shows light from East 63rd Street streaming in through a pair of tall, arched windows.

Evan Joseph for Sotheby’s International Realty

Asiel and his two children — his daughter would marry a Bloomingdale — enjoyed the mansion through the nineteen-teens.

In 1920, a year after his retirement, the broker died at home at age 69, missing the stock market crash by nine years.

The robbery was his most lasting claim to fame. His obituary in The New York Times noted that he “gained high praise from the police for his coolness and bravery in a single-handed battle with two burglars.”

In the ’60s and ’70s, the home was divided into seven rent-stabilized apartments.


The sweeping staircase of the House of Cassini spirals up toward its added sixth floor and skylight.

The sweeping staircase of the House of Cassini spirals up toward its added sixth floor and skylight.

Evan Joseph

City records show that in the ’60s and ’70s, the home was owned by a California development company and had been divided into seven rent-stabilized apartments.

In 1984, it was purchased by Nestor and Marianne Cassini, the designer’s secret wife.

The sisters spent the next 30 years taking out mortgages, renovating, evicting the old tenants, and running the designer’s businesses — Oleg Cassini, Inc. and Cassini Parfums, Ltd., both in receivership since 2015.

The winning, anonymous bidder pledged $34.5 million and may need to spend many millions more to renovate.


The front entrance to the Cassini mansion.

The mystery buyer’s architect estimates that renovating the home will cost $25 million and take three to four years.

Evan Joseph

The next owner — named only as “15 East 63rd Street, LLC” in court papers — is now poised to inherit an architectural gem, rich in history and potential.

“It appears that it has been a significant number of years since the townhouse was last comprehensively renovated,” Brown Harris Stevens broker Sami Hassoumi said in a court document on Tuesday.

The mystery buyer’s architect estimates that fully renovating the home will cost $25 million and take three to four years, Hassoumi said.




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Paul Squire Headshot

Logan Paul’s Pokémon card investment pays off; he just sold it for millions in profit

Logan Paul just made millions off a Pokémon card.

The influencer turned wrestler sold his one-of-one Pikachu Illustrator card — one of 41 ever distributed and the only one graded the highest quality by collectibles company PSA — at auction Monday for a jaw-dropping $16.492 million.

The winner? AJ Scaramucci, the founder of venture capital firm Solari Capital and the son of former White House communications director Anthony Scaramucci.

Scaramucci appeared on Logan Paul’s livestream early Monday after auction house Goldin announced him the winning bidder in the auction, which closed at 1:14 am ET.

“My ambition for the card is just a small story,” Scaramucci said at the event. “The real story is that I’m on a planetary treasure hunt. I’m planning to buy a T. rex dinosaur fossil, the Declaration of Independence, and I’m not stopping there. This is only the beginning.”

“You’re just starting?” Paul replied. “Bro. Bro, that is so epic.”

Paul also used the livestream to open packs of Pokémon cards and announce RipIt, a new collectibles business he’s launching.


This Pikachu illustrator Pokémon card set a new record for the most expensive Pokémon card sold privately.

This Pikachu illustrator Pokémon card set a record for the most expensive Pokémon card sold privately.

Goldin



In a statement, Goldin described the Pokémon card, which was originally given to winners of an illustration competition in Japan, as “one of the Holy Grails of the collectibles industry.”

Paul previously set the world record back in July 2021 when he purchased the same card for $5.275 million, meaning he will make millions in profit.

The card also came with a diamond-encrusted chain appraised at $75,000, Goldin said. Paul wore the card during his WWE debut at WrestleMania 38 in 2022.

In an Instagram post on Saturday, Paul bid farewell to the card.

“Goodbye my friend 😢 What a privilege it’s been to be the owner of the greatest collectible in the world,” he wrote.

The markets for Pokémon cards, along with other collectible card sets like Magic: The Gathering and Yu-Gi-Oh!, have become huge in recent years among collectors — especially Gen Z — with the rarest cards selling for tens of thousands of dollars, if not more.

Some people are even forgoing stocks and investing in Pokémon cards instead.




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We sold our house in Utah to rent in Denver. The move was a big financial risk, but it was worth it.

Sometimes, a decision doesn’t make sense on paper, but it just feels right to your soul. That’s what my family’s big move was like.

Last year, our family of five sold our affordable home in rural southern Utah to move into a more expensive rental in a Denver suburb.

We had wanted a change for a long time, and the timing finally felt right. We could’ve stayed where we were “safe” financially, but all our family members were struggling in different ways.

I couldn’t shake the feeling that nothing would really get better until we were brave enough to make a big change — so we did.

Moving from Utah to Denver was a difficult financial decision

One of the hardest parts to accept about moving was leaving our extended family and a house that we had lived in for 13 years.

Even more difficult was that our house in Utah was affordable. We were privileged to buy a house when prices were reasonable, and mortgage rates were low. We would have moved a long time ago, but we felt stuck in a home we had outgrown because it was cheap.

We knew that if we sold our house, we would be paying a lot more elsewhere. But the decision still felt right for our family.

We figured Denver was worth the price increase

We chose a Denver suburb because we love the outdoors and also miss the opportunities that a city provides. We have friends in the area, so we knew we would have a community once we arrived.


Katy Anderson's kids in nature in denver

The author’s kids enjoy Denver’s nature.

Courtesy of Katy Anderson



We chose an area known for its “small town feel.” As soon as we moved in, I immediately fell in love with the neighborhood. We are surrounded by an abundance of mature trees, and are within walking distance of wonderful trails for walking and biking.

I’ve been amazed at the wildlife around us, especially considering we live in a Metro area.

Just walking the trails in our neighborhood, we’ve seen rabbits, coyotes, elk, raccoons, turkeys, and many different species of birds. We feel closer to nature here than we did in rural Utah.

After living here for a few weeks, we decided to purchase e-bikes so we could ride much farther along the trails, including to coffee shops, restaurants, city gardens, and parks.

This area also provides us with access to shopping, museums, concerts, and sporting venues. After living in a secluded town for so many years, having these amenities feels like a luxury.

We’re saving money in other ways

Our rent is high in Denver, and that has been the biggest adjustment.

Before we made the move, I was also worried about the cost of living, but I have been pleasantly surprised. Our kids even get free school lunch thanks to a statewide Healthy School Meals for All program. My kids have all commented that the food is of better quality. They actually want to eat the school lunches here.

We are paying much less for gas in Colorado, as we are driving substantially less. In Utah, we lived on the outskirts of town and had to drive 15 to 20 minutes to get to work or to the nearest grocery store.

When we moved to Colorado, we also immediately ended most of our subscriptions and streaming services. We’ve cut down on our discretionary spending and are eating more family meals at home.

We also chose jobs that would help us adjust to our new housing costs

We knew we would be paying more for housing no matter where we moved, so we chose a location with ample work opportunities. My husband is a psychiatric nurse practitioner, and I have picked up a part time job in addition to my freelance writing business.

We are all making more money in Colorado than we could in Utah, where the minimum wage is still $7.25 per hour. Two of my teenage sons were amazed when they realized how much more they could earn in their new city.

Right now, we are enjoying the freedom of renting. Buying a home in this economy feels daunting, and we want to take our time exploring Colorado to see where we may want to buy if it feels right.

For now, I am grateful that my kids have a chance to experience living in a bigger city with more diversity and opportunities. Overall, I feel like we fit in here in a way that we never did in our old town, and that is priceless.




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In my 60s, I sold the home I raised my son in and took a job on a cruise ship. It gave me the freedom I needed.

At almost 70, with my son grown and building his own creative life, I realized the home I had poured myself into for two decades no longer supported the future I wanted.

For almost 20 years, that house looked like the picture of stability. Teal doors, a tire swing, and a sunny studio beside the garage. It was where I raised my son as a single mother and built my photography career. Most people assumed I would stay there forever.


House exterior

The author decided to sell the house were she raised her son.

Courtesy of the author



But when my son graduated and moved to Orlando, something shifted. I had spent years encouraging him to live the life he wanted. Suddenly, I realized I needed to do the same.

The house was a money pit

Behind the postcard charm, a truth emerged. The house no longer supported my future. What once felt like a comfortable sanctuary had become a moneypit, its growing debt reminding me daily that I could not afford the life or the freedom I wanted. I had built a home to raise a confident and independent child, and I had done that, but holding on to the house was keeping me from evolving into the next chapter of my life, a chapter filled with creative possibilities that debt made impossible to pursue.


Baby items

The author purged her belongings before selling her house.

Courtesy of the author



Sorting through the rooms, I noticed how little the objects mattered. It was never the things, only the memories. And memories do not require storage space. I photographed what mattered, donated most of the rest, and watched the remnants of my old life line the curb. Letting go gave me breathing room for the first time in years. I could imagine what came next.

I sold the house and found confidence

Selling the house gave me the financial and emotional space to address something I had avoided for years. I needed extensive dental work, and with missing teeth, I no longer felt confident in my own smile. As a photographer, I had spent decades coaxing others to relax while I avoided the lens myself.


Rio de Janeiro

The author traveled to Brazil after selling her house.

Courtesy of the author



I trusted a cosmetic dentist in southern Brazil, the parent of an exchange student I once hosted, and the cost was far more realistic than in the United States. After surgery and the initial healing, I traveled to Rio. For the first time in years, I felt free to focus my lens and smile at the world around me without hesitation.

The physical and financial weight I had carried for years began to lift. Brazil restored my confidence and reminded me that reinvention was still possible.

I took a job on a cruise

Before selling my house, I had researched ways to travel while working. A friend hosted dinners as a sommelier on cruise ships, and my algorithm kept suggesting photography jobs at sea. I applied to a few with curiosity.


Cruise

The author took a job as a cruise photographer.

Courtesy of the author



While I was still in Rio, the call came. I was offered a contract as the master photographer on a premium luxury cruise line, a role that would take me across multiple continents. To qualify, I needed a Seafarer Certificate, which at my age required extensive medical tests and functional exams. It was humbling, but I passed.

I was notified with less than a week to prepare that my contract would start in Sydney. After a 31-hour flight, knowing I would board within 24 hours, I dropped my bags at the hotel and walked the waterfront from Darling Harbor to the Opera House. A mist hung in the air, turning the city into a soft shimmer through my lens.

Life at sea was a study in contrasts. I photographed in a studio on the 15th floor but slept far below in a windowless cabin. I climbed endless flights of stairs each day. The ancient programs, cameras, and equipment made my days long and tedious. But above deck, the ocean made everything worth it. An unobstructed sunset on open water can shift your entire mood. Each time we reached a new port, the world opened again. My creative mojo began to gel for the first time in a long while, and I realized I was able to absorb so much only because I had let go of so much.

A new home and a new beginning

In six months, I had visited three continents, become healthier than I had been in years, and for the first time in decades, my smile came without hesitation. My financial responsibilities felt lighter, and the spark I had been missing finally came back after years of accumulating belongings and obligations that had kept me anchored when I was ready to sail into another chapter filled with creativity.

While recovering in Miami from an injury, I received another unexpected call. An apartment had become available in the Asbury Park building where I had applied years earlier. It had an ocean view, a community of artists and musicians, and a rent I could actually afford. It felt like the universe was giving me the chance to finally act on my hopes and creativity.

I had let go of everything that once held me back. What I gained was freedom, the freedom to create, to travel, and to smile freely again, with my camera as my ticket forward.




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I sold my company for hundreds of millions and have more money than I’d ever need. Yet at 66, I have no plans to retire.

This as-told-to essay is based on a conversation with David Chung, owner and chairman of Amare Global. It has been edited for length and clarity.

I couldn’t believe there was a banana just sitting on the kitchen table. In Korea, having a banana was a big deal, but when I immigrated to New York City at 12, we had fruit and even M&Ms. Everything was so luxurious.


David Chung and mom

David Chung and his mom moved to New York.

Courtesy of David Chung



My mother immigrated to the US in 1963 with less than $100. When she arrived in New York, she started a small, mom-and-pop gift shop. She grew the business through and eventually got her green card. I joined her about eight years later, in the middle of a New York winter. I didn’t speak the language, but I felt lucky to be in the US.

I decided to get into cosmetics after watching my mom’s business

My mother continued to grow her store, expanding into a drugstore and pharmacy. By the early 2000s, she had a business worth tens of millions.

She was very, very entrepreneurial. Watching her journey inspired me and has carried over even today. I have a lot of her DNA when it comes to business. Now that I’m 66, I’ll think, “I’m just like my mother!” It’s scary.

My mom’s business set the stage for mine. Working in her shop, I saw that beauty products provided a great business opportunity. The products are small, which reduces warehousing and shipping costs. They’re consumable, so customers return again and again. And even if the economy is bad, people don’t give up on their skin.

I started my first business at 23

I went to college, but I found it difficult to concentrate because I was always thinking about starting my business. Even today, I don’t drive much because I get so distracted thinking about running my companies (instead, I use a driver). Eventually, I graduated with a degree in engineering.

Right next to my school, there was a small video rental store. These were the days before Blockbuster. I bought that store when I was 23, and expanded it slowly to sell gifts and cosmetics.


David Chung in his first business

David Chung started his business at the age of 23.

Courtesy of David Chung



That was my start in business. Other than my mom, I’ve never worked for anyone else. That meant I had to learn hard lessons about business structure, processes, and systems on my own.

I have more money than I could ever spend, but still love building businesses

Over time, I pivoted from retail to research, design, and manufacturing. In 2018, I sold my shares in one company for $53.7 million. In 2021, I sold my company, Farmacy Beauty, for hundreds of millions (I’m not allowed to share the specific amount). I remember being at my computer on December 31st, watching the funds being deposited into my account. I didn’t feel anything. I didn’t think “I’m rich now.” I didn’t even go out to dinner to celebrate.

Entrepreneurship has never been about money for me. It’s more about the accomplishment and excitement of building something. I remember the first time I was in a room with people who had more credentials than me. I came up with an idea they hadn’t considered. That’s the first time I realized that I had a different way of thinking about things.

I have a huge amount of money now — I could never spend it all. And yet, when those funds hit my account, I didn’t buy a Rolex or a fancy car. I went out and bought another company to run.

I want to build wealth in order to give back

Recently, I told an employee that I’m going to retire in three years. She laughed and said I told her the same thing 15 years ago.

I don’t think I will ever retire fully. God has given me a talent for being business-minded and good at what I’m doing. I want to utilize that as long as I’m able to.

My mother was very passionate about giving back, particularly to the Korean American community. I figure the more money I make, the more I can give back. So, why not use this skill?




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How much are Ariana Grande tickets? The singer’s upcoming tour is entirely sold out, but here’s where to find seats

Ariana Grande is officially touring again in 2026: The Eternal Sunshine Tour opens June 6, 2026 in Oakland and runs across North America with arena stops in Los Angeles, Atlanta, Montreal, Chicago and more, followed by a London O2 run in mid-August. Cities and dates were confirmed via the official announcement and ticketing pages, with multiple nights added in several markets due to demand.

Grande announced the tour in late August 2025 and opened presales in early September. Initial allocations sold out quickly, prompting the addition of shows in Oakland, Los Angeles, Austin, Sunrise, Atlanta, Brooklyn, Boston, Montreal, Chicago, and London. If you’re trying to get seats now, start with primary listings and then compare trusted resale options, since some dates are already selling above face value. Below, we break down how to buy Ariana Grande tickets with the latest schedule, presale details, and price checkpoints. You can also look at ticket details at your leisure on StubHub and Vivid Seats.

Ariana Grande’s 2026 tour schedule

For the Eternal Sunshine tour, Ariana Grande will be doing multiple shows at each of her stops. She will begin in California on June 6, 2026, and then make her way to Texas, Florida, Georgia, New York, Massachusetts, Canada, and conclude her North American shows with a visit to Illinois next August. Afterward, she is set to perform 10 shows in London, officially concluding the tour on September 1, 2026.

North America


International


How to buy tickets for Ariana Grande’s 2025 concert tour

Original standard tickets were sold on Ticketmaster but quickly sold out for all North American shows shortly after release. Tickets for the London performances of The Eternal Sunshine tour are currently available for presale, with general on sale beginning September 18 at 10 AM EDT.

Tickets are also available from verified resale vendors such as StubHub and Vivid Seats. Since original tickets for The Eternal Sunshine tour are no longer available, reselling tickets is the best option for securing a spot.

How much are Ariana Grande tickets?

Tickets for Ariana Grande’s The Eternal Sunshine tour vary depending on the date, location, and demand for each show. Original standard tickets quickly sold out on Ticketmaster shortly after the general sale began, and currently only resale options are available for North American stops. London shows began their general sale on September 18 at 10 a.m. ET.

Overall, resale prices are high. Ariana herself has commented on her disappointment with scalpers and tried to discuss with the venues about making as many tickets available as possible so that her fans can attend without paying inflated prices.

StubHub and Vivid Seats currently have similar resale prices. StubHub’s most affordable options range from $395 (July 25 in Boston and July 30 in Montreal) to $752 (August 3 in Chicago). Vivid Seats prices range from $416 (June 30 in Sunrise, Florida) to $906 (June 20 in Inglewood). It could be attributed to the high demand and anticipation for the tour from Ariana Grande, who has not toured in seven years. However, many locations even have premium seats being resold for several thousand dollars.

However, with resale prices high and the tour not set to begin until 2026, prices are expected to fluctuate over the next few months.

Upon the release of The Eternal Sunshine’s tickets, three VIP packages were sold on Ticketmaster: the Ultimate Ari’s Lounge VIP Package, the Ari’s Lounge VIP Package, and the Gold VIP Package. These packages included various perks such as premium reserved tickets, early entry, VIP gifts, and access to an exclusive VIP lounge. Similar to the original standard tickets, these packages quickly sold out and are no longer available.

Who is opening for Ariana Grande’s tour?

There has been no official announcement made yet regarding opening acts for Ariana Grande’s 2026 The Eternal Sunshine tour. For her previous Sweetener world tour, Ella Mai, Normani, and Social House opened for Grande. It is expected that more information will be made public as the tour approaches regarding whether someone will be opening for the star on her highly anticipated tour.

Will there be international tour dates?

There are currently 10 performances scheduled in London for The Eternal Sunshine tour. The final five dates were announced on September 16, with Ariana stating that these dates would be the last additions to the tour, and the current schedule is now finalized.

How much are Ariana Grande meet and greet tickets?

While three VIP packages were offered on Ticketmaster for The Eternal Sunshine tour, none of these packages included a meet-and-greet option.

During her Sweetener tour, Ariana Grande previously offered meet-and-greet options for sale in the range of $1,000, which included pit access as well as the opportunity to view the pre-show soundcheck. However, midway through the tour Ariana ended meet and greet options, which was reportedly due to anxiety. So, while it seems unlikely that she will offer a meet-and-greet for The Eternal Sunshine tour or future tours, Ariana has been reported to have said she does not mind interacting with fans if they happen to meet her by chance.




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