Beverley Schottenstein was 93 years old when she decided to go to war with the biggest bank in the U.S. Her two financial advisers at JPMorgan, who oversaw more than $80 million for her, had run up big commissions putting her money in risky investments they weren’t telling her about. It was the latest red flag about the bankers. There had been missing account statements. Document shredding. Unexplained credit-card charges. Although some relatives urged Beverley not to make waves, she was resolute. What the money managers did was wrong, she told the group. They needed to pay, she said. Even though they were her own grandsons. Click the link in our bio to read the full story.
Reuters Investigation: Amazon has for years given preferential treatment to a small group of sellers in India, publicly misrepresented its ties with the sellers and used them to circumvent tough foreign investment rules, company documents show https://t.co/D24dg6eWu3
The energy crisis affecting Texas is reminiscent of Hurricane Katrina and some don’t realize how bad it truly is https://t.co/e5YY3jqXHa
Organizations need strong, visionary executives. But they also need people who can make their ideas applicable, even if it means steering them in another direction. https://t.co/tBELxiWXYM
Goldman Sachs — whose services are traditionally the preserve of wealthy clients — has launched an app for customers with as little as $1,000 to invest. Users of the service can put money into automated portfolios rather than individual stocks and bonds, according to the company. Goldman’s latest move into the mainstream expands its Marcus platform, which also offers a high-interest savings account. Link in bio for more.
Fun while it lasted? Elon Musk ends an almost six-week run as the world's richest person, after a decline in Tesla shares erased $4.6 billion from his fortune. Jeff Bezos, who previously held the title for more than three years, is back at No. 1 with a net worth of $191.2 billion, or $955 million more than Musk. But it may not be long before he gets outdone by Musk again: SpaceX, a rival to Bezos’s Blue Origin, has been in talks to raise funds that would significantly increase its valuation. Click the link in bio for more.
A five-bedroom apartment in this Hong Kong residential complex just sold for a record-breaking sum. Spanning 3,378 square feet (314 square meters), the flat costs more than $17,500 per square foot. Situated in the exclusive Mid-Levels neighborhood, the house comes with a private roof, swimming pool and three parking spaces. The previous record was held by a property in Hong Kong's Mount Nicholson in 2017. Link in bio for more.
● Elon Musk’s reign as the the world’s richest person was brief. Link in bio for more.⠀ ⠀ ● Tesla's shares slid 2.4% on Tuesday, erasing $4.6 billion from its chief executive officer’s fortune and knocking him from the top spot on the Bloomberg Billionaires Index ranking.⠀ ⠀ ● Jeff Bezos, who’d held the title for more than three years until last month, reclaimed his No. 1 position with a net worth of $191.2 billion, or $955 million more than Musk.⠀ ⠀ ● Musk’s drop ends -- for now -- an almost six-week stint as world’s richest person that saw him front and center in some of the biggest market events so far this year. He fanned the flames of the Reddit-driven GameStop Corp. rally and sent the shares of Etsy Inc., Shopify Inc., CD Projekt SA and Signal Advance Inc. soaring with boosterish tweets.⠀ ⠀
Still trawling through WallStreetBets on Reddit for investing tips? So passé. The hot new spot to talk stocks is an app you might not even be invited to use yet. Clubhouse — the audio-oriented, invite-only social network — has become a favorite talking shop for tech titans and celebrities, from Elon Musk to Drake. Fans say the fact users have to speak in their own voices helps keep the trolls at bay. While big names have hogged headlines, Clubhouse has also quietly amassed a cohort of financial aficionados in groups like "Stocks 2 Freedom," "Options Bae" and “Stock Market Academy.” Link in bio for more.
When millions of Texans were plunged into frozen darkness, the finger-pointing started immediately. In reality, the greatest forced blackout in U.S. history was a case of everything going wrong at once. Yes, the weather was extreme. But poor planning, gas-plant malfunctions and frozen wind turbines all played their part — along with the state's deregulated power market, which allowed companies to skip on maintenance and upgrades. With national attention on the latest power crisis, difficult questions are being raised in the state. Link in bio for more. 📷: Ron Jenkins/Getty Images
Ugandan military and police officers beat and seriously injured journalists as they covered the delivery of a petition about human rights violations to a United Nations office, a rights group said. Journalists were covering opposition leader and pop star Bobi Wine, who was petitioning the local U.N. human rights office to investigate reported incidents of rights violations. Paul Murungi (pictured), who works with Uganda’s New Vision newspaper, was injured while on reporting duty, in Kampala, Uganda, February 17, 2021. 📷 Abubaker Lubowa #uganda #reuters #reutersphotos #journalism
Trump Plaza, the first casino Donald Trump ever built and a faded vestige of Atlantic City’s glamorous past, has been demolished after standing empty for years. The Plaza opened in 1984, the first of three casinos Trump would eventually own in Atlantic City. Carl Icahn acquired it when he bought Trump Entertainment Resorts out of bankruptcy in 2016. Link in bio for more. (via quicktake)
Rush Limbaugh, the monumentally influential media icon who transformed talk radio and politics in his decades behind the microphone, helping shape the modern-day Republican Party, died Wednesday at the age of 70 after a battle with lung cancer, his family announced. Limbaugh's wife, Kathryn, made the announcement on his radio show. The radio icon learned he had Stage IV lung cancer in January 2020 and was awarded the Presidential Medal of Freedom by President Trump at the State of the Union address days later. First lady Melania Trump then presented America’s highest civilian honor to Limbaugh in an emotional moment on the heels of his devastating cancer diagnosis. Go to the link in our bio for more on this story.