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The top 10 family offices for startup investments
  + stars: | 2024-11-15 | by ( Robert Frank | ) www.cnbc.com   time to read: +4 min
The top 10 family offices for startup investments made over 150 investments combined this year, in everything from biotech and energy to crypto and artificial intelligence, according to a new analysis. CNBC partnered with Fintrx, the private wealth intelligence platform, to analyze single family offices that made the largest number of investments in private startups in 2024. The most active family office so far this year is Maelstrom, the Hong Kong-based family office of American investor Arthur Hayes, who co-founded the crypto exchange BitMEX. For the sake of the list, family offices are defined as investment vehicles or holding companies of a single family or individual that don't manage money for outside investors. Nearly a third of startup capital in 2022 came from family offices, according to a PWC report.
Persons: Guillaume Houze, Pascal Le Segretain, Robert Frank, Bernard Arnault's, Laurene Powell Jobs, Peter Thiel's Thiel, Arthur Hayes, Guillaume Houzé, Motier, Andreesen Horowitz, Eric Schmidt, Magnus Carlsen, Fertility Organizations: Royal, Getty, CNBC, Fintrx, Ventures, Labs, Motier Ventures, Google, Flex, Mistral, Nvidia, Lightspeed, Atinum Investment, Emerson Collective . Thiel Capital Locations: Paris, France, Hong Kong, Lafayette, Seoul, Korea, Singapore
Costco sells a broad selection of gold and silver products, and now it's adding platinum to the mix. The wholesaler has already sold through multiple rounds of platinum coins and bars in the past week. AdvertisementCostco shoppers have been snapping up a broad selection of gold and silver products over the past year. Costco now offers platinum products online, including both bars and coins. Related storiesGoldCore's business is primarily in gold and silver, but Russell told BI that platinum makes up a "very small percentage" of what the company sells.
Persons: , Gary Millerchip, Edward Sterck, Sterck, bode, Mindy Schauer, David Russell, Russell Organizations: Costco, Service, Canadian Mint, Platinum Investment Council, Media, Getty, ICE Locations: Swiss, Orange
Hydrogen Demand Is Set to Boom, but Growth Faces Big Hurdles
  + stars: | 2023-10-18 | by ( Yusuf Khan | ) www.wsj.com   time to read: +5 min
A new report from consulting firm McKinsey forecasts a fivefold rise in hydrogen demand to 600 million metric tons a year by 2050, if climate change is limited to 1.5 degree Celsius. Using green hydrogen as fuel for steelmaking can cut emissions by up to 95%, according to H2 Green Steel, a Swedish low-carbon steel startup. Higher interest rates have made securing funding for big infrastructure projects more expensive, with fewer willing to put up the cash, according to Franc. Last week, $7 billion of subsidies dedicated to hydrogen projects in the U.S. were announced by the Energy Department. Faster permitting times are needed to bring more hydrogen projects online, as well as the renewable energy to power their electrolyzers, industry experts say.
Persons: BRIDGET BENNETT, , Pierre, Etienne Franc, ” Franc, Jason Cheng, Regulators haven’t, Margery Ryan, Johnson, Todd Anderson, Bram Smeets, Ole Rolser, you’ve, Ryan, , Yusuf Khan Organizations: REUTERS, McKinsey, Business, Green, , Platinum Investment, Energy Department, Regulators, The Wall, International Energy Agency, U.S, Dakotas Locations: Las, Swedish, Franc, U.S, Woodbine , Ga, Midwest, Texas, West, Gulf Coasts
The price of platinum has soared as high demand meets low supply. A previously anticipated platinum shortage will be worse than expected this year thanks to increased demand, particularly from the industrial sector, according to the World Platinum Investment Council. Global demand for platinum will see a 28% uptick this year compared to 2022, while supply will decrease 1% year-on-year, the organization said Monday. Industrial demand, particularly in chemical and glass production in China, is looking to be the strongest on record, the report estimates. Strong demand also continues in the auto sector as platinum becomes an increasingly common replacement for pricy palladium in catalytic converters, it said.
South Africa typically accounts for more than 70% of the world's platinum mining supply, according to UBS, but the process has been restricted by the country's deepening power crisis. There will be some recovery in the recycled platinum supply in 2023, but the amount will remain below pre-pandemic levels, the WPIC estimates. Global automotive demand for platinum is expected to increase by 10% in 2023 to 3.246 million ounces, according to the WPIC. Jewelry is "probably the area of greatest uncertainty" when it comes to platinum demand, Sterck told CNBC, but it is a relatively small component in the picture. Industrial demand for platinum will increase by 12% year-on-year in 2023, according to the WPIC, with platinum usage in the glass and medical industries, in particular, expected to increase.
Prices of platinum , which is used in everything from jewelry to fuel cells, are soaring. The Aberdeen Standard Platinum Shares ETF , the GraniteShares Platinum Trust and the iPath Series B Bloomberg Platinum Subindex Total Return ETN are among the funds that track the metal. The Aberdeen Standard Platinum Shares ETF, for instance, rose 10% — jumping over 20% in the last six months alone. It has the highest buy rating — from more than 75% of analysts — according to FactSet. Analysts give Glencore an average 17% upside to its current share price, according to FactSet data.
Platinum rose another 5% Thursday to trade at $1,054.86 per troy ounce Friday, up around 22% compared to the start of the quarter. The price of platinum is up over 20% since late September, and the metal is set to experience its best quarter since 2009. The Council anticipates a platinum deficit in 2023, with demand growing by 19% while supply increasing by just 2%. Demand for platinum in the automotive industry will also continue to grow next year, while jewelry-based demand for platinum is forecasted to remain constant throughout 2023. The platinum market posted a deficit in 2020 after the onset of the coronavirus pandemic brought industry to a standstill.
LONDON, Nov 22 (Reuters) - The World Platinum Investment Council (WPIC) said on Tuesday it expected a deficit of the metal used in vehicle exhausts, industry and jewellery in 2023 after a hefty surplus this year. The World Platinum Investment Council expects the market to swing into deficit in 2023. Manufacturers are also replacing palladium with cheaper platinum to save money, with such substitution accounting for 340,000 ounces of platinum demand this year and just over 500,000 ounces in 2023, the WPIC said. "This could lead to an even further tightening of the platinum market next year," he said. ANNUAL PLATINUM SUPPLY/DEMAND ('000 oz)*QUARTERLY PLATINUM SUPPLY/DEMAND ('000 oz)** Source: World Platinum Investment Council, Platinum Quarterly Q3 2022Reporting by Peter Hobson.
Gold ticks up as dollar pauses advance; focus on Fed minutes
  + stars: | 2022-11-22 | by ( ) www.cnbc.com   time to read: +1 min
One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Spot gold rose 0.2% to $1,740.56 per ounce by 0033 GMT. San Francisco Federal Reserve President Mary Daly said on Monday the real-world impact of the U.S. central bank's interest rate hikes is likely greater than what its short-term rate target implies. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.2% to 906.06 tons on Monday. Spot silver advanced 0.4% to $20.92 per ounce, platinum also rose 0.3% to $985.30, while palladium added 0.6% to $1,877.14.
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