A fallen billionaire's bulletproof Mercedes sold at bankruptcy auction for $63,000. Here's how it went down.

Tech Insider : Economy, Business
Mercedes Benz

Joe Buglewicz for BI

Amazon is not happy with Saks

Tech Insider : Business
Saks Fifth Avenue logo; Amazon logo
Amazon is putting up a fight over Saks Global's bankruptcy financing plan.

Scott Olson/Getty Images; Matthias Balk/picture alliance via Getty Images

Saks owes hundreds of millions to luxury brands from Chanel to Burberry

Tech Insider : Business
A person enters the Saks Fifth Avenue department store in New York on January 13, 2026.
A person enters the Saks Fifth Avenue department store in New York on January 13, 2026.

ANGELA WEISS / AFP

Luxury retail giant Saks files for bankruptcy

Tech Insider : Business
saks
Saks Global, which owns the iconic Saks Fifth Avenue department store, has filed for bankruptcy.

Jimin Kim / SOPA Images/Reuters

A billionaire's life is on the auction block. The fire sale includes a Gilded Age mansion and a 15-room NYC penthouse.

Tech Insider : Business, Style
Miles Guo in his NYC apartment in 2017
Miles Guo in his NYC apartment in 2017

TIMOTHY A. CLARY/AFP via Getty Images

Inside Saks Fifth Avenue's fight for its life: How a tumultuous 12 months left the retailer on the brink of bankruptcy

Tech Insider : Business, Economy, Technology
Torn Black Saks Fifth Avenue Shopping Bag.
Saks Global, the company behind some of the most iconic luxury department stores, is in trouble.

Getty Images; Alyssa Powell/BI

Bankruptcies are exploding across the economy, hitting small businesses and households. Few industries are immune.

Tech Insider : Economy, Economy, Business
bankrupt signage.
US bankruptcies are on the rise.

doockie/Getty Images

iRobot filed for bankruptcy: How the Roomba maker got here

Tech Insider : Business, Technology
iRobot's Roomba vacuums.
iRobot, the parent company of Roomba, filed for Chapter 11 bankruptcy protection.

Justin Sullivan/Getty Images

Hollywood post-production firm tied to Al Pacino project files for Chapter 11 after parent company touted $1B financing

Tech Insider : Business
Tim Chonacas and an image of the Hollywood sign.
Tim Chonacas co-founded Gold Tree Studios in Hollywood.

Jordan Naylor/Getty Images for SXSW; Patrick T. Fallon / AFP via Getty Images

Pizza chain once backed by NBA star Kevin Durant hits bankruptcy court

Tech Insider : Business, Crypto
Kevin Durant (L) next to a Pieology storefront
Kevin Durant (L) next to a Pieology storefront

Getty Images/BI composite

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