John Paulson Also Said To Be Huge Fan


Portfolio has a big article on the business of The Jonas Brothers, the boy band that is apparently a big deal with the kids these days.* Sophia Bonay handily broke down the object of tween/teen lust that hopes to attain "Miley Cyrus-like success," a goal now very much within reach, what with the fresh round of funding from venture capitalist firm NAMBLA.
For those of you who truly only care about the JBs from a business perspective (right), there's a lot of interesting information. $12 million: 2007 earnings, with $9 million from the group's tour and $3 million from music and merchandise sales. 140: Total number of stops on their hilariously named "Look Me In The Eyes" tour, which began in January 2008 and runs through 2009. 29: number of guitars the brothers own. $9,000: StubHub price of a pair of orchestra-section tickets for the August 16 sold-out show in Holmdel, New Jersey. 3: Number of consecutive Jonas Brothers singles that garnered more than 100,000 downloads-- a record-- on iTunes. $2.8 million: price of the home in Dallas that the brothers purchased in June 2008. 946,362: MySpace friends (as of August 13, 2008). 743,915: MySpace friends assumed to be sexual predators (as of August 13, 2008).
There's one extremely important number, some might say the most important number of all, that Portfolio shamefully failed to include. That number is $300,000: Steve Cohen's winning bid at the Robin Hood Foundation benefit in May for a private concert with The Brothers, the kicker being that the person bidding against him to be serenaded by the boy band du jour was Jim Cramer. And yes, we know Cohen has some young kids who one could make the argument he was bidding on the concert for but let's also keep in mind that 50 percent of the reason people have kids is so that they can have fronts for businesses or predilections or loves that dare not speak their name they don't want you to know about, such as the one a hedge fund manager has for three singing brothers who could the next Von Trapp family were they not evangelical Christians.
The Jonas Brothers By-The-Numbers [Portfolio]
*We hate it when people use that saying but in this case the ignorance about a piece of pop culture that seems to be a product of me: old, you: young it is meant to express is entirely apt. We know virtually nothing about the group, a fact that makes us feel like a fossil at the age of almost 24.