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Whatever his motives, Ziff tripled his net worth to an estimated $850 million last week. By spinning off the magazines as two complex groups instead of disposing of them one at a time, Ziff ensured that they would be transferred with their editors and staffs largely intact. This benign consideration is in character for the publisher, who once described himself as a "corporate socialist."
As Ziff explained his feelings about those who worked for him: "Even the dear old bottom line can normally best be served by having people who have other purposes than the bottom line. You have to enjoy what you are doing." In his case, an extra $712.5 million should make that considerably easier.
—By Janice Castro. Reported by Raji Samghabadi/New York