Hedge Fund Founder Looking To Buy Tampa Bay Rays For $1.85 Billion (Forbes)
Trip Miller, founder of the Nashville, Tennessee hedge fund Gullane Capital Partners, is trying to put together a group of investors to buy the Tampa Bay Rays for $1.85 billion, multiple sources have told Forbes. Stuart Sternberg, the principal owner of the baseball team, led a partnership that purchased the Rays for $200 million in 2004. It is believed Sternberg owns 49% of the Rays. Sports bankers say it is not clear that Sternberg is looking to sell the team and believe he may be testing the market.
Rising the Ranks at Citadel Securities: How This 31-Year-Old Rose from Intern to Head of Foreign Exchange in 5 Years (Business Insider)
How does one go from being an intern to leading a two dozen-person trading desk for one of the world’s biggest, most influential financial firms in just five years? Just ask Soeren Kuenzel, the head of foreign-exchange trading at Citadel Securities who’s now responsible for billions in complicated currency trades at just 31 years old. Kuenzel, a former competitive gymnast, says it all started with a campus poster advertising a contest. It was January 2017, and Kuenzel was completing his doctorate in statistics at the University of California, Berkeley. He wasn’t looking for a job in finance. He had already had stints at Facebook and Apple and had his sights set on becoming a professor.
Odey Asset Management Suspends Further Funds After Investor Flight (Reuters)
Odey Asset Management has suspended further funds after increased investor redemptions, letters posted on the fund’s website showed. The hedge fund, once run by one of Britain’s best known star managers, Crispin Odey, has grappled with investor flight after the founder became the focus of sexual misconduct allegations in media reports last week. The Financial Times and Tortoise Media, in a joint publication on June 8, reported allegations by 13 women that Odey – one of Britain’s best-known hedge fund managers – had sexually assaulted or harassed them over a 25-year period.
Photo by Austin Distel on Unsplash
Billionaire George Soros has Spent Millions Electing Woke Prosecutors Upending America’s Justice System. Now, as His ‘Political’ Heir Takes Over his $25B Empire, Biographer MATT PALUMBO Reveals the Full Truth the Mainstream Media won’t Tell You (DailyMail.co.uk)
Matt Palumbo is author of ‘The Man Behind the Curtain: Inside the Secret Network of George Soros‘. Alexander Soros is officially taking over his father George’s kingdom. And along with more money than God, Alex inherits an empire of influence rivaling governments and reaching beyond national borders. For the non-profit philanthropy, Open Society Foundation (OSF), created by the now 92-year-old financial wizard and funded by a $25 billion war chest, is far more than a simple charity. As I documented in my book ‘The Man Behind the Curtain: Inside the Secret Network of George Soros,’ OSF has been wielded as one of the most powerful progressive forces in the world, active in over 120 countries.
NFT Artwork Owned by Three Arrows Capital Sells for $6.2 Million at Sotheby’s (Decrypt.co)
Ringers #879, a generative piece of blockchain artwork by Dmitri Cherniak that’s commonly known as “The Goose” among NFT enthusiasts, sold at a Sotheby’s auction today for just over $6.2 million including auction house fees. The piece has quite a history. In 2021, it was purchased by now-defunct cryptocurrency hedge fund Three Arrows Capital for a whopping $5.66 million worth of ETH. “The Goose” has since been connected to Three Arrows’ Starry Night Capital fund, which sought to assemble “the world’s finest collection of NFTs.”
How an Art Deal Between Ken Griffin, Ron Perelman and Larry Gagosian Ended Up in Court (Observer)
In the summer of 2020, one billionaire visited the Hamptons home of another to take a look at his collection of fine art—not an unusual occurrence in a seaside hotspot that attracts so many affluent New Yorkers. Ken Griffin, accompanied by mega art dealer Larry Gagosian, headed over to Ron Perelman’s 57-acre estate on an August afternoon to view two paintings for sale. While Griffin, founder of hedge fund Citadel, left without Cy Twombly’s painting Untitled (1971), he did buy Brice Marden’s Letter About Rock in a deal brokered by Gagosian Gallery and later purchased another Marden painting, River 4. And what should have been a simple acquisition for Griffin has since turned into a months-long legal battle over a 2018 fire at Perelman’s Hampton home.
Michael Jordan Sells Charlotte Hornets To Group Including J. Cole And Eric Church—As Team Is Now Worth 10x What He Paid For It (Forbes)
TOPLINE Michael Jordan sold his majority stake ownership of the Charlotte Hornets – the North Carolina NBA team he’s owned for more than a decade—to a group including a millionaire hedge fund manager and rapper J. Cole. Jordan sold to a group led by Gabe Plotkin, a hedge fund founder who already owns a minority stake in the Hornets, and Rick Schnall, a private equity firm president who owns a minority stake in the Atlanta Hawks, the NBA announced Friday.
Hedge Fund Manager Predicts $10 XRP if Ripple Wins SEC Lawsuit (Finbold.com)
Earlier this week, on June 13, the much-anticipated Hinman documents were revealed to the public, providing significant insights into an infamous 2018 speech held by Bill Hinman, the former division director at the US Securities and Exchange Commission (SEC). During the speech, Hinman said that Ethereum (ETH), the second-biggest cryptocurrency in the world, should not be considered a security. Two years later, the SEC filed a lawsuit against Ripple and its two executives, alleging they raised more than $1.3 billion through the sale of XRP in an unregistered security offering to investors.
Friday 6/16 Insider Buying Report: NEE, FIBK (Nasdaq.com)
On Wednesday, NextEra Energy’s CEO, John W. Ketchum, made a $1.01M purchase of NEE, buying 13,600 shares at a cost of $74.26 each. Ketchum was up about 2.6% on the purchase at the high point of today’s trading session, with NEE trading as high as $76.22 at last check today. NextEra Energy is trading up about 2.4% on the day Friday. Before this latest buy, Ketchum made one other buy in the past year, purchasing $1.01M shares for a cost of $78.33 a piece. And at First Interstate BancSystem, there was insider buying on Wednesday, by CEO Kevin P. Riley who purchased 13,150 shares at a cost of $26.06 each, for a total investment of $342,718. First Interstate BancSystem is trading off about 0.7% on the day Friday.
$10M Bet On GameStop? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
GameStop: The Trade: GameStop Corp. (GME) executive chairman Ryan Cohen bought a total of 443,842 shares at an average price of $22.53. To acquire these shares, it cost around $10 million. Cogent Biosciences: The Trade: Cogent Biosciences, Inc. (COGT) 10% owner Fairmount Funds Management LLC acquired a total of 800,000 shares an average price of $12.00. To acquire these shares, it cost around $9.6 million.
