Tag Archives: Billionaire

Reuters Mexico says cryptocurrencies are not money, warns of risks MEXICO CITY (Reuters) -Mexican financial authorities on Monday said that crypto assets are not legal tender in Mexico and are not considered currencies under current laws, warning that financial institutions that operate with them are subject to sanctions. The joint statement by the Bank of Mexico, finance ministry and banking regulator comes after Mexican billionaire Ricardo Salinas Pliego on Sunday said his banking business,… Source link

If anyone can say they know the ins and outs of crypto, it’s the 29-year-old billionaire founder of crypto exchange FTX, Sam Bankman-Fried. Not only has he built up an impressive personal net worth by being ahead of the curve in crypto trends, he’s also built FTX into one of the fastest growing crypto platforms through first-of-their-kind partnerships.  First, there was the first-ever crypto deal with a major U.S. sports team by locking up the naming rights to the Miami Heat’s arena. Then,… Source link

The ongoing inflation spike proves that the economic recovery is either gaining strength or flying off the rails, depending on whom you ask.  BlackRock (BLK) CEO Larry Fink on Wednesday warned that investors are in for a “big shock” as prices rise. That ominous prediction came days after President Joe Biden said “we all benefit” from the uptick in U.S. wages that some consider a key driver of rising inflation.  In a new interview, billionaire Todd Boehly — co-founder and CEO of holding… Source link

(Bloomberg) — The billionaire founder of KE Holdings Inc. has died of an unspecified illness, a shocking development for a Chinese property company that pulled off one of the strongest U.S. market debuts of 2020. Zuo Hui, who turned the company known as Beike from a nationwide chain of real estate offices into China’s largest platform for housing transactions and services, died May 20 after an “unexpected worsening of illness,” his company said in a statement without elaborating. KE… Source link

Eli Broad stands inside the Broad, his contemporary art museum on Grand Avenue in Los Angeles, in 2015. (Genaro Molina / Los Angeles Times) Eli Broad made his billions building homes, and then he used that wealth — and the considerable collection of world-class modern art he assembled with his wife — to shape the city around him. Dogged, determined and often unyielding, he helped push and prod majestic institutions such as Walt Disney Concert Hall and the Museum of Contemporary Art into… Source link

Howard Marks, co-founder of alternative investment manager Oaktree Capital, says he has reconsidered his previous “dismissive” stance on bitcoin. The investor, who is worth $2.1 billion according to Forbes, previously said in a 2017 memo that cryptocurrency was “an unfounded fad.” The comment was “a knee-jerk reaction without information,” Marks conceded in a video interview with the Korea Economic Daily on Monday. While he’d previously considered bitcoin to have no intrinsic… Source link

Topline Former Google CEO Eric Schmidt on Sunday urged lawmakers to ramp up funding for research and development in the artificial intelligence space in order to prevent China from becoming the biggest player in the global AI market–a development Schmidt warned would spark national security and privacy concerns that could ultimately constitute a national emergency. Eric Schmidt speaks during a National Security Commission on Artificial Intelligence (NSCAI) … [+]… Source link

Last week, the NASDAQ slipped below 13,200, making the net loss from its all-time peak, reached earlier this month, 6.4%. If this trend keeps up, the index will slip into correction territory, a loss of 10% from its peak. So what exactly is going on? At bottom, it’s mixed signals. The COVID-19 pandemic is starting to fade and the economy is starting to reopen – strong positives that should boost markets. But an economic restart brings with it inflationary pressures: more people working… Source link

The New York Times The Coronavirus Is Plotting a Comeback. Here’s Our Chance to Stop It for Good. Across the United States, and the world, the coronavirus seems to be loosening its stranglehold. The deadly curve of cases, hospitalizations and deaths has yo-yoed before, but never has it plunged so steeply and so fast. Is this it, then? Is this the beginning of the end? After a year of being pummeled by grim statistics and scolded for wanting human contact, many Americans feel a long-promised… Source link

In this article, we presented billionaire John Paulson’s top 10 stock picks. Click to skip ahead and see Billionaire John Paulson’s Top 5 Stock Picks. The investing guru billionaire John Paulson, who converted his hedge fund into a family office in 2020, has benefited from its bullish bets on gold and healthcare stocks in 2020 after seeing lackluster returns in the past few years. The founder of New York-based hedge fund Paulson & Co is famous for making $20 billion in profits for betting… Source link