A pedestrian walks in front of Citibank’s office in the financial district of Makati suburban Manila … [+] on November 18, 2008. Asian shares fell November 18 on mounting fears of an extended global recession after US banking giant Citigroup announced 50,000 job cuts, about 20 percent of its global workforce from its peak level… More
Topline Billionaire investor Warren Buffett continues to see opportunities in the stock market despite a selloff in recent months, recently snapping up more shares of energy company Occidental Petroleum, as some of his biggest holdings continue to outperform despite surging volatility this year. Some of the billionaire investor’s big bets in energy and consumer-related stocks… More
Mukesh Ambani attends the India Mobile Congress 2018 in New Delhi on October 25, 2018. CHANDAN KHANNA/AFP via Getty Images A unit of Reliance Industries, controlled by tycoon Mukesh Ambani, said it will invest up to 16.7 billion rupees ($220 million) to team up with U.S.-listed Sanmina to build an electronics manufacturing hub in India.   … More
Alibaba-invested e-commerce firm Huitongda went public at the Hong Kong Stock Exchange today. … [+] Photographer: Roy Liu/Bloomberg © 2020 Bloomberg Finance LP Alibaba-backed Huitongda Network rose on its debut at the Hong Kong Stock Exchange today, lifting the fortune of its billionaire chairman Wang Jianguo. Shares in the provider of retail supply chain services… More
Topline Shares of Facebook parent Meta fell over 25% on Thursday—erasing over $230 billion in market value for its worst trading session in history—after the company’s dismal quarterly earnings report showed declining users and surging expenses related to the company’s metaverse project. Facebook’s stock had its biggest drop ever, losing a quarter of its value… More
Donald Trump at the Women’s British Open Golf Championships in Turnberry, Scotland. AFP via Getty Images A court in Scotland has ruled that Scottish ministers do not have a “duty” to investigate Donald Trump’s purchase of Turnberry Golf Club using an “unexplained wealth order.” The ruling is a victory for the Trump Organization, which has… More
Topline As the surge in oil prices continues amid increasing demand and a supply crunch that has driven up prices for all types of fuels, energy stocks are soaring—in some cases, notching triple-digit returns—while several U.S. oil tycoons watch their net worths spike. Several U.S. billionaires have seen their net worths jump considerably as the… More
A Crown Resorts logo at the entrance to the Crown Melbourne casino and entertainment complex in … [+] Melbourne, Australia, on Wednesday, March 24, 2021. Carla Gottgens/Bloomberg Star Entertainment Group said Friday it pulled its proposed merger with Crown Resorts—controlled by billionaire James Packer—amid allegations of tax evasion and lax money laundering controls at Crown’s… More
Richard Li attends the Milken Institute Global Conference in Los Angeles, California. Jonathan Alcorn/Bloomberg FWD, the Asian insurer backed by Hong Kong billionaire Richard Li, has filed confidentially for an initial public offering in the U.S. PCGI Intermediate, which is FWD’s holding company, said on Thursday that it has submitted a draft registration statement to… More
LONDON, UNITED KINGDOM – JULY 1O: Prince Charles, Prince of Wales, Camilla, Duchess of Cornwall, … [+] Queen Elizabeth ll, Meghan, Duchess of Sussex, Prince Harry, Duke of Sussex, Prince William, Duke of Cambridge, Catherine, Duchess of Cambridge and Princess Anne, Princess Royal stand on the balcony of Buckingham Palace to view a flypast to… More
ASSOCIATED PRESS Charlie Munger is an amazing investor and Warren Buffett’s partner at Berkshire Hathaway. He recently gave an interview to CalTech alumni that has a lot to teach us about investing. There were many insights for investors in that interview, but I want to focus on one segment, where a viewer asks Charlie: “How… More
Hindustan Times via Getty Images Physical place is often a powerful influence on entrepreneurs. One thinks of Steve Jobs growing up in the suburbs south of San Francisco. The unique mashup of cultural rebels and computer geeks inspired Jobs to locate Apple at the intersection of science and art. It’s still the Apple address. The… More
Airbnb cofounders: Chief product officer Joe Gebbia (left), chief strategy officer Nathan … [+] Blecharczyk (center) and CEO Brian Chesky (right). Charley Gallay/Getty Images for Airbnb Airbnb’s much-anticipated initial public offering was well worth the wait for the company’s three billionaire cofounders. Shares soared on their first day of trading Thursday, more than doubling the… More
Topline Billionaire hedge fund manager Leon Cooperman, the longtime chairman and CEO of now-defunct investment advisory Omega Advisors, isn’t bullish on the economy’s long-term outlook, but the short-term should be favorable for stocks—even if election results are challenged, he said on CNBC Friday. Leon G. Cooperman speaks during a conference in New York City back… More
As Zoom Video Communications’ stock has skyrocketed, so too has the fortune of its billionaire … [+] founder. Victor J. Blue/Bloomberg High-flying video conferencing service Zoom, which has seen skyrocketing demand during the coronavirus pandemic, is now worth more than ExxonMobil, one of the world’s largest oil and gas companies. As of 2:30 p.m. ET,… More
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