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Billionaire Hermes Heir Doesn't Know Where His Shares Went

But a Swiss court didn't agree that Nicolas Puech's former wealth manager duped him

(Newser) - Nicolas Puech made headlines late last year when the Hermès heir revealed he wanted to leave his fortune to his then-51-year-old gardener. Puech is now back in the headlines—though this time because his fortune seems to be gone. Bloomberg reports the 81-year-old claimed in Swiss court that he...

Disney Finally Gets Activist Investor Off Its Back

Nelson Peltz reportedly dumps his entire Disney stake after losing proxy battle, makes $1B in profit

(Newser) - Last month, the "most expensive corporate proxy fight in history" ended for Nelson Peltz without the seats on Disney's board that he'd hoped for. Now, the activist investor is dumping all of his stock in the company: A source tells CNBC that Peltz has sold off his...

Trump Just Got $1.8B in Trump Media Stock

Though it's worth a bit less than that as of this writing

(Newser) - As of Tuesday, former President Trump owns 64.9% of Trump Media & Technology Group, parent company to Truth Social. That's thanks to the 36 million "earnout" shares he received per a Tuesday filing, bringing his total to 114.75 million shares. As CNN explains, Trump was to...

Barclays Holds Back $29M Bonus From Ex-CEO Tied to Epstein

Jes Staley resigned late last year amid an investigation by UK banking regulators

(Newser) - Update: More bad news this week for Jes Staley, as UK banking regulators continue to investigate exactly what his relationship was with the late Jeffrey Epstein. The Guardian reports that Barclays will be holding back up to $29 million in bonus and share payouts to its former CEO, who resigned...

SEC: Elon Musk Gave $5.7B in Tesla Shares
From Elon Musk,
a $5.7B Gift
Feb 15, 2022 8:36 AM CST

From Elon Musk, a $5.7B Gift

SEC filing indicates Musk donated 5M Tesla shares to unidentified charity or charities in November

(Newser) - Elon Musk kicked off the holiday season at the end of last year with a rather large gift: about $5.7 billion in Tesla shares, donated to an unidentified charity or charities. CNN Business reports that the comped 5,044,000 shares, presented between Nov. 19 and Nov. 29, were...

GameStop's Roller Coaster Ride Has Started Again

Retailer's stock price suddenly doubled Wednesday

(Newser) - After frenzied trading last month brought GameStop shares from as low as $17 to as high as $483, it eventually stabilized in the $40 to $50 range—until Wednesday, when huge swings resumed. The retailer's share price more than doubled in a sudden burst of trading Wednesday afternoon and...

Bezos Cashes In $3.1B in Amazon Shares

Amazon CEO made more than $10B Wednesday

(Newser) - Jeff Bezos cashed in more than $3 billion in Amazon shares on Monday and Tuesday, bringing the total for the year to $10.2 billion—which is less than what he made on Wednesday. Business Insider reports that the Amazon CEO's net worth jumped around $10.5 billion Wednesday...

Stocks Fall on Grim News
Stocks Fall on Grim News
markets
Apr 15, 2020 3:18 PM CDT

Stocks Fall on Grim News

The S&P 500 is down 2.2%

(Newser) - Stocks are closing lower on Wall Street as more signs emerge of the economic damage being caused by the coronavirus outbreak, the AP reports. The S&P 500 fell 2.2% Wednesday. Bond prices rose, sending yields lower. Energy stocks fell sharply after the price of oil touched another 18-year...

'Unseemly' Detail Emerges on Senator's Stock Purge

Sen. Kelly Loeffler invested in a company that makes medical protective equipment

(Newser) - Maybe Sen. Kelly Loeffler hopes the details will exonerate her? Well, we'll soon see. The GOP senator has given the Atlanta Journal-Constitution details about her sale of millions of dollars in stocks—much of which happened after senators privately learned about the looming coronavirus on Jan. 24. Turns out...

Coronavirus Gets Tighter Grip on Stock Market
Market Reacts
to Estimated
US Death Toll
markets
Apr 1, 2020 3:15 PM CDT

Market Reacts to Estimated US Death Toll

Selling is widespread as the S&P 500 drops over 4%

(Newser) - Stocks are closing sharply lower on Wall Street as more signs piled up of the economic and physical pain being caused by the coronavirus outbreak, the AP reports. The S&P 500 dropped more than 4% Wednesday after the White House said that 100,000 to 240,000 people in...

Afternoon Rally Fizzles on CNBC Report
Afternoon Rally
Fizzles on CNBC Report
markets
Mar 25, 2020 3:15 PM CDT

Afternoon Rally Fizzles on CNBC Report

But stocks closed higher overall

(Newser) - Stocks are closing higher on Wall Street Wednesday but gave up much of an afternoon rally after CNBC reported that a dispute between Sen. Bernie Sanders and Republicans over unemployment aid could cause the coronavirus aid bill to be delayed, the AP reports. The S&P 500 rose 1.2%...

Sen. Loeffler Responds to Critics of $18M Stock Purge

Lawmakers sold a lot of stock in the pandemic's early days

(Newser) - Sen. Kelly Loeffler is taking a stand against critics of her recent stock purge—one of several by lawmakers as the coronavirus began to spread. "It's absolutely false," Loeffler said Friday on Fox News . "And, it could not be true." CNBC notes that Loeffler and...

Guru: Exercise Titan Is So Done
Guru: Exercise Titan Is So Done
Dec 11, 2019 4:48 PM CST

Guru: Exercise Titan Is So Done

Andrew Left at Citron Research sees dark days ahead for Peloton

(Newser) - Peloton's month could get worse—we're just not sure how. First, a company commercial was widely panned and inspired a tongue-in-cheek response . Then stock fell, and kept falling this week. Now an esteemed short seller predicts that Peloton shares will plunge to just $5 in 2020, CNN Business...

Note on Napkin Will Cost Woman $850K

Jury rules against former owner of the 'Anchorage Daily News'

(Newser) - An Alaska jury has ordered the buyer of a news website to make good on a payment promise she had scrawled on a cocktail napkin, the AP reports. The Anchorage Daily News reports that jurors on Thursday ordered Alice Rogoff to pay more than $850,000 to Tony Hopfinger. Rogoff...

Theranos Offers Investors Very Unusual Deal

Troubled firm will offer extra shares to investors if they don't sue

(Newser) - The founder of troubled blood-testing firm Theranos is giving up some of her stake in the company in a bid to prevent yet more lawsuits, reports the Wall Street Journal . Elizabeth Holmes is offering investors up to two extra shares for every one they own in return for a promise...

Icahn Sours at Taste of Netflix's 'Poison Pill'

Slams stock move as 'poor corporate governance'

(Newser) - Billionaire investor Carl Icahn isn't happy with Netflix's plan to avoid a takeover, and he told the SEC as much yesterday. In a filed statement, he called the company's share-diluting "poison pill" decision "an example of poor corporate governance," the Los Angeles Times reports....

Eying Icahn Takeover, Netflix Turns to 'Poison Pill'

Company seeks to dilute share values after investor picks up 10%

(Newser) - Following billionaire investor Carl Icahn's purchase of a 10% stake in Netflix , word is out that he may push the company to sell—so Netflix has opted for the "poison pill" approach. The company is giving shareholders the right to snap up more stock if any single shareholder...

Get Ready for More Facebook Shares for Sale

Lock-up expiration will free 268M shares in less than three months

(Newser) - Just as investors are souring on their plunging Facebook shares , comes a depressing reminder that millions of shares will likely soon flood the market. Starting in less than three months, select insiders and early investors will be allowed to sell their Facebook shares as the "lock-up period" currently preventing...

Nasdaq: We Bungled Facebook IPO

CEO Robert Greifeld: Nasdaq is 'humbly embarrassed'

(Newser) - Nasdaq admitted today that it mishandled Facebook's record-busting IPO on Friday with maddening delays and technical glitches, the Wall Street Journal reports. "This was not our finest hour," said Nasdaq CEO Robert Greifeld, who called his exchange "humbly embarrassed." Nasdaq's board met today, he...

Facebook IPO: Not Quite $100B

Shares to be $28 to $35, putting value at $96B max

(Newser) - With Nasdaq trading likely to begin in weeks, Facebook has revealed pricing figures: It's planning to sell shares for between $28 and $35, which would put the company's value at $77 billion to $96 billion—the highest ever for a web firm during its IPO, the Wall Street ...

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