Mary-Kate & Ashley Olsen: Handbag Launch Party!

"A, A, A," fourteen-year-old Riley Carlson chanted quietly to herself. She hoped the grade gods were listening to her. Her twin sister, Chloe, turned around in her seat. "What are you mumbling back there?" she whispered. "I'm wishing for an A on this paper," Riley whispered back. "I need it to bring my grade up from a C to a B." Chloe flipped her wavy blond hair over her shoulders. "Something tells me it's a little too late for that," she said. "Miss Westmore is already handing back our papers."
It was third period at West Malibu High School, and the sisters were in business studies class. Their...

Inside Their Strange World

They Built An Empire as Child Stars-then They Grew Up. Now, at 21 with Money to Burn, the Olsen Sisters Are Living in the Fast Lane-and Still Clinging to Each Other.

Even for die-hard New York City clubbers, it's a late night. But although it's nearly dawn, Mary-Kate Olsen is still going strong. The 21-year-old actress has been on her feet for hours at Manhattan hot spot Beatrice Inn, celebrating Valentine's Day with her boyfriend, artist Nate Lowman, 29, drinking Stella Artois beers and vodka and sodas, chain-smoking Marlboro Reds and, every once in a while, ducking...

"Just think. Twenty-four hours from now we will officially be on spring break!" Chloe Carlson announced. "And forty-eight hours from now we might be partying with Jonah Bayou," her twin sister, Riley, put in. "Okay, you guys have thirty seconds to stop being so excited," Riley's best friend, Sierra, said, slouching in her seat at the Newsstand, their favorite coffee bar. "I can't believe I'm going to miss out on the Teen Scene Beach House to go on an educational tour of Colonial Williamsburg with the 'rents. This is going to be the worst-ever spring break." "Your mom and dad need to join us...