(Bloomberg) — Stanley Druckenmiller’s family office took a different approach than the investment firm of his former mentor, George Soros, as US stocks entered a bear market and reached their lows of 2022. Druckenmiller’s Duquesne Family Office sold its entire $199 million position in Amazon.com Inc. in the three months through June, while scaling back […]
Read More(Bloomberg) — Two founders of a little-known Hong Kong investment bank briefly became billionaires in recent days following a baffling stock surge, only to see their paper fortunes quickly tumble when the shares plunged. Magic Empire Global Ltd., which provides underwriting and advisory services and has helped just one company go public in two years, […]
Read More(Bloomberg) — Elon Musk’s fortune plunged almost $62 billion. Jeff Bezos saw his wealth tumble by about $63 billion. Mark Zuckerberg’s net worth was slashed by more than half. All told, the world’s 500 richest people lost $1.4 trillion in the first half of 2022, a dizzying decline that marks the steepest six-month drop ever […]
Read More(Bloomberg) — No person on the planet has a fortune of more than $200 billion — at least for now. Elon Musk, the only billionaire who still exceeded that threshold heading into this week, saw his wealth tumble by $13.3 billion on Wednesday to $198.6 billion. Tesla Inc. shares fell for the fourth-straight day to […]
Read More(Bloomberg) — Ken Griffin has for years been one of the wealthiest people on the planet thanks to his hedge fund’s success. Now it’s his powerhouse market maker that’s driving the bulk of his fortune to new heights. The billionaire sold a $1.15 billion stake in Chicago-based Citadel Securities to Sequoia Capital and Paradigm, valuing […]
Read MoreTesla CEO Elon Musk, an avid Twitter user, posed a question for his 62 million followers in early November: Should he sell 10% of his stock in the electric carmaker? The CEO, who’s also chief executive of SpaceX, proceeded to unload over $9 billion in Tesla stock that month and sold an additional $963 million […]
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