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☆ This startup for traders raised $30 million from investors including Stanley Druckenmiller and Greg Coffey. Here's how it plans to transform how Wall Street analyzes data.
▼ + stars: | 2024-10-28 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Reflexivity is a startup cofounded by two former hedge fund traders. AdvertisementA startup looking to transform how investors and traders use data just received funding from some of the biggest names in the hedge fund world. Reflexivity, formerly known as Toggle AI, just raised its $30 million Series B, the startup announced Monday. Interactive Brokers and Greycroft led the round, which included participation from billionaire investor Stanley Druckenmiller and Greg Coffey, the Australian founder of hedge fund Kirkoswald. AdvertisementIt has a valuation between $115 million and $150 million, Szilagyi said.

Persons: —, Greycroft, Stanley Druckenmiller, Greg Coffey, Izzy Englander, Reflexivity, Jan Szilagyi, Szilagyi, George Soros, Giuseppe Sette, Howard, Wells, Szilyagyi, that's Organizations: Service, Interactive, Millennium, Catalyst, P, Business, Druckenmiller's Duquesne Capital Management, Fortress Investment Group, Millennium Management, Soros Fund, London Stock Exchange Group, Federal Reserve Locations: Australian, MUFG, Fargo, Wells Fargo

☆ Audacy completes its financial restructuring and now plans to go private
▼ + stars: | 2024-09-30 | by ( Liam Reilly | ) edition.cnn.com time to read: +7 min

CNN —Radio network Audacy on Monday shared that it completed its financial restructuring, successfully reducing its approximately $1.9 billion of funded debt by 80%, to $350 million. The radio giant had filed when it disclosed it was entering a restructuring agreement to reduce debt. Audacy is the second largest radio company in the United States behind iHeartMedia and ahead of Cumulus. Audacy, an internet radio conglomerate, operates hundreds of music, news and sports radio stations. The company, founded in 1968 as Entercom Communications, merged with CBS Radio in 2017, before rebranding as Audacy in 2021.

Persons: David Field, Audacy, ”, strongmen Soros, Soros, Rupert Murdoch, ” Soros, Ajit Pai, Donald Trump, George Soros, Chip Roy, ” Roy, Sen, Ted Cruz, Jessica Rosenworcel, Elon Musk’s, ” “ Soros, “ George soros, ” It’s Organizations: CNN — Radio, “, Bloomberg, Fund Management, FCC, Soros Fund Management, Soros, Democratic, Open Society, New York Post, Cumulus Media, iHeartMedia, Cumulus, CNN, Republican, Rothschilds, fcc, Entercom Communications, CBS Radio Locations: Philadelphia, Hungarian, United States, Texas, U.S

☆ These business leaders and billionaires are backing Kamala Harris
▼ + stars: | 2024-07-24 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The Vice President has already secured several influential political endorsements, including the support of President Joe Biden. AdvertisementSheryl SandbergFormer Meta executive Sheryl Sandberg endorsed Kamala Harris for president on social media on Monday. AdvertisementReed HastingsNetflix's Reed Hastings is supporting Harris' presidential bid with a $7 million donation. Ron ConwaySilicon Valley "super angel" investor Ron Conway has also backed Harris' presidential run. She said in an X post: "I am proud to support Vice President Harris.

Persons: —, Kamala Harris, Joe Biden, Biden, Harris, She's, Sheryl Sandberg, Sandberg, @kamalaharris, Reed Hastings, Hastings, Ron Conway, Conway, Donald Trump, @KamalaHarris, George Soros, Alex Soros Alex Soros, Melinda French, Bill Gates, Melinda French Gates Organizations: Service, Democratic, Business, Meta, Soros Fund Management, Wall Street Journal Locations: Harris

☆ Sheryl Sandberg endorses Kamala Harris for president
▼ + stars: | 2024-07-22 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Read previewFormer Meta COO Sheryl Sandberg endorsed Vice President Kamala Harris for president in social media posts on Monday. Sandberg, who founded Lean In, a nonprofit that works to support women in the workplace, made the announcement one day after Harris entered the race for president. AdvertisementSandberg also said Harris "will defend women's rights — and all Americans' rights — from the Oval Office with a determined, compassionate focus." The Harris campaign did not respond to a request for comment on Sandberg's endorsement. Sandberg is among the tech and business leaders who have spoken out since Biden dropped out of the race and Harris entered it.

Persons: —, Sheryl Sandberg, Kamala Harris, @kamalaharris, Sandberg, Harris, I'm, Lean, Joe Biden, Biden, Trump, Reid Hoffman, Alex Soros, George Soros Organizations: Service, Business, Lean, Democratic, LinkedIn, Fund Management Locations: Delaware

☆ Peloton staved off the cash crunch that threatened its business. Where does it go now?
▼ + stars: | 2024-07-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

Before the refinancing, Peloton would have needed to pay around $800 million toward its debt by November 2025. Now that it has refinanced, Peloton has eased investor concerns about liquidity and has the breathing room it needs to try to turn around its business. Peloton faces risks aheadWhile the refinance may have bought Peloton some time, it's far from a panacea. Under the terms, Peloton will now be spending about $133 million annually in interest, up from around $89 million previously. As of the end of March, Peloton had about 6.6 million members — woefully behind that long-term target.

Persons: Michael Nagle, JP Morgan, Goldman Sachs, hasn't, Liz Coddington, Coddington, Evan DuFaux, Soros didn't, Neil Saunders, Barry McCarthy's, Karen Boone, Chris Bruzzo, Scott Stuart, Simeon Siegel, Siegel, John Foley, McCarthy, —, McCarthy – Organizations: Interactive, Bloomberg, Getty, CNBC, Soros Fund Management, Silver Point, GlobalData, Netflix, Turnaround Management Association, BMO Capital Markets, Spotify Locations: New York

☆ 2 Goldman Sachs interns share their Wall Street experience and secrets for success, from early mornings to overcommunicating
▼ + stars: | 2024-06-21 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +13 min

Stankard should know — he's a rising senior now, but this will be his second summer interning for Goldman's sales and trading division. "I've always been interested in business generally," said Young about her decision to intern with Goldman last summer. For sales & trading interns like him, the summer is different — they split their nine weeks between two "pods" within the division. Dan Dees Goldman SachsA summer at Goldman is hard workTraders are known for having early work schedules to get ahead of the trading day and clients' needs. Goldman interns mingle Emmalyse BrownsteinAdvice for other interns and applicantsStanding out is hard in the application process.

Persons: —, Goldman Sachs, Anna Kouba, Goldman, Robbie Stankard, He's, Stankard, you've, Willow Young, Goldman Young, I've, Young, Dan Dees, Dees, Tony Pasquariello, Lucy DeStefano, he's, Lucy, they're, Dan Dees Goldman Sachs, it's Organizations: Service, Business, Goldman, Columbia University's, Stanford University, Financial, Group, FIG, Bloomberg, Soros Fund, CNBC, Investment, Wall Locations: Jersey, California, Chicago, New York, Westwood , Massachusetts

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Jeff Bezos' fiancée did a Vogue photoshoot inside the '10,000 Year Clock' — here's what the structure built beneath a mountain is all about
▼ + stars: | 2023-11-24 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Jeff Bezos' fiancée, Lauren Sanchez, posed inside the 10,000 Year Clock in a photoshoot by Vogue. AdvertisementA Vogue feature of Jeff Bezos' fiancée, Lauren Sanchez, featured an iconic photoshoot of the couple in Western Texas. It's located inside a mountain in the Western Texas desert that's part of the Sierra Diablo Mountain Range. Bezos began funding the clock project back in 2011. Jeff Bezos and Lauren Sanchez got engaged in May after dating for about four years.

Persons: Jeff Bezos, Lauren Sanchez, Bezos, Danny Hillis, —, Sanchez, intriguingly, Mackenzie Scott Organizations: Vogue, Long Now, Service, Origin, Fox Locations: Western Texas, Van Horn , Texas, Los Angeles

Burry also closed out bearish options against the broad S&P 500 and Nasdaq 100 Index, the filings showed. His Scion Asset Management’s biggest new position last quarter was in bearish options on an exchange-traded fund focused on semiconductors. He bought put options with a notional value of $47.4 million against the iShares Semiconductor ETF (SOXX.O), according to the filing. The filings also showed that Burry's fund no longer held puts on the Nasdaq 100 and S&P 500. Hedge fund Man Group also sold its 1.1 million shares in Nvidia, while Renaissance Technologies LLC sold its entire stake in the company.

Persons: Michael Burry, Burry, George Soros, Carolina Mandl, David Gregorio, Anna Driver, Deepa Babington Organizations: U.S, Nasdaq, iShares Semiconductor, Soros Fund Management, Society, Nvidia, Taiwan Semiconductor Manufactoring, Man, Renaissance Technologies, Tiger Global Management, Eisler Capital, Man Group, Duquesne Family Office, Thomson Locations: U.S, TSMC, New York

☆ Investors increase holdings of weight-loss drug makers’ shares in Q3 -filings
▼ + stars: | 2023-11-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 14 (Reuters) - Some big investors showed increased appetite for weight-loss drug makers in the third quarter, piling in to shares of Eli Lilly (LLY.N) and Novo Nordisk amid growing demand for their product, securities filings showed on Tuesday. Shares of Eli Lilly rose 14.5% in the third quarter and are up 67% this year. Some investors also bought more American Depositary Receipts of Novo Nordisk, including Fidelity Investments, Lazard Asset Management, T Rowe Price and Soros Fund. Novo Nordisk on Saturday presented data showing that the heart protective benefits of Wegovy are not solely due to weight loss, which could make it easier for healthcare insurance reimbursement in the future. Still, other investors trimmed their exposure to Eli Lilly, such as Wellington Management Group, California Public Employees Retirement System and Bridgewater Associates.

Persons: Eli Lilly, Eli Lilly's Mounjaro, JPMorgan Chase, Eli Lilly's, Rowe Price, Marshall Wace, LSEG, “ Stocks, ”, Vincent Aita, Carolina Mandl, Ira Iosebashvili, Matthew Lewis Organizations: Novo Nordisk, Novo, JPMorgan, Vanguard, Sigma, Tiger Global Management, Coatue Management, U.S . Food, Drug Administration, Novo Nordisk's Wegovy, Bank of America, Fidelity Investments, Lazard Asset Management, Soros Fund, Wellington Management Group, California, Bridgewater Associates, Marshall, Renaissance Technologies, Capital Management, Pfizer, Carolina, Thomson Locations: BlackRock, U.S, New York

☆ Insider Today: Israel's next steps
▼ + stars: | 2023-10-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementAdvertisementIn today's big story, we're looking at the latest developments in Israel's war with Hamas, including Israel's devastating airstrikes and a potentially complicated ground invasion of Gaza. What's on deck:Markets: Market experts detail how to cash in on an ailing bond market. Market experts detail how to cash in on an ailing bond market. AdvertisementAdvertisementThe Israel war is also impacting another conflict: Russia's invasion of Ukraine. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Jimmy Buffett's, margarita, Caroline Ellison, Sam Bankman, Faiz, NurPhoto, Insider's Kelsey Vlamis, Insider's Chris Panella, Amir Levy, Jake Epstein, Insider's Elias Chavez, David Donabedian, Insider's Bryan Metzger, Brendan McDermid, Jim Rogers, George Soros, Raphael Bostic, Lorie Logan, BRYAN R, SMITH Caroline Ellison, Ellison, Linda Yaccarino, X, Arantza Pena Popo, eBay's, they're, They'll, Steve Scalise, Jim Jordan, Rachael Brennan, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Tech, Getty, CNN, Hamas, CIBC Private Wealth, Ukraine, Washington Post, Republican, Elite, Quantum Fund, Soros Fund Management, Atlanta Fed, Dallas, Fed, Alameda Research, Street, Gaza, Boomers, Republicans, Ohio, The Chicago, Tata Consultancy Services, Sam's Club Locations: Florida, Gaza, Israel, Ukraine, Russia, homebuying, Louisiana, New York City, San Diego, London, New York

☆ Elite investor Jim Rogers rings the alarm on US debt and dollar dominance - and warns of bubbles in stocks and real estate
▼ + stars: | 2023-10-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

George Soros' former business partner said stocks, bonds, and real estate are widely overvalued. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementAmerica's debts have ballooned to dangerous highs, the US dollar's dominance won't last, and there are bubbles in stocks, bonds, and real estate across many countries, Jim Rogers has warned. Rogers is best known as George Soros' former business partner, and the cofounder of Quantum Fund and Soros Fund Management. In May, he predicted the worst bear market of his life with "trouble" across stocks, bonds, real estate, and currencies.

Persons: Jim Rogers, George Soros, Rogers, —, dollarization Organizations: Service, YouTube, Quantum Fund, Soros Fund Management Locations: United States, China, Brazil, Russia, India, South Africa

☆ Top money managers are warning of pain ahead for the US economy. Here are 6 areas where they're investing right now to prepare.
▼ + stars: | 2023-09-29 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

"There is a subset that simply cannot do that," she said of paying down credit card debt going forward as rates rise. "In those tails and subsets I think you're going to have really unusual delinquencies, and just horrible recovery rates." You're going to see defaults increase." Delaney also emphasized being defensive, and said he likes corporate bonds, but those with floating rates, meaning they move with the market rate. The iShares 10-20 Year Treasury Bond ETF (TLH) is one way to gain exposure to long-term government bonds.

Persons: Dawn Fitzpatrick, Katie Koch, haven't, it's, Mark Delaney, Suni Harford, I'd, Brad Gerstner, Jerome Powell, Volcker, Koch, —, We're, Rick Rieder, he's, Delaney, Fitzpatrick Organizations: CNBC's, Alpha, Federal Reserve, Soros Fund Management, TCW, UBS, Management, BlackRock, JPMorgan, Corporate, Treasury Bond ETF, Vanguard Energy, DB Oil Fund Locations: Europe, Saudi Arabia

☆ Another Trump presidency will spark a constitutional and economic crisis, warns billionaire investor George Soros
▼ + stars: | 2023-08-25 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

George Soros expects a economic crisis if Donald Trump regains the White House. He told Project Syndicate the US would face both a constitutional, and economic, crisis. The Soros Fund Management founder made his remarks in a Project Syndicate article as the 2024 election cycle gets underway and Trump faces a host of legal battles. AdvertisementAdvertisementThat's not stopped Trump from seeking the Republican nomination for a third time – something that's not sitting well with Soros. But if I am wrong, the US will face a constitutional crisis that is likely to bring on an economic crisis as well," he added.

Persons: George Soros, Donald Trump, It's, Trump's, He's, Trump, that's, Soros Organizations: Syndicate, Federal, Service, Soros Fund Management, Trump, Republican Locations: Wall, Silicon

☆ Prominent investors rekindle affection for Amazon in Q2 as stock price jumps
▼ + stars: | 2023-08-11 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Soros Fund Management owned 769,061 Amazon shares at the end of the second quarter, representing an increase of more than 8% in its holdings. Amazon’s stock price boomed during the pandemic when homebound shoppers relied on the retailer for toilet paper, groceries and much more. What investors who bought Amazon during the second quarter did not know yet was how well the company fared during those three months. It reported an 11% gain in second quarter revenue and topped analysts’ expectations when it reported earnings earlier this month. Management also pointed to a strong third quarter and the stock price rose on the earnings report.

Persons: Washington, Mike Segar Organizations: Amazon, REUTERS, Fidelity, Amazon.com, Baupost, Soros Fund Management, Investment Group, Mutual, Investor GQG Partners, Securities and Exchange Commission, Management Locations: New York City , New York, U.S

☆ A 45-year-old tech exec who claims to have reduced his biological age by 5 years says he finishes his last meal of the day by 11 a.m.
▼ + stars: | 2023-07-05 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Bryan Johnson spends up to $2 million a year on a rigorous program to reduce his biological age. The tech exec recently confirmed he eats his last meal of the day at 11 a.m.His typical "dinner" consists of meals like an orange and fennel salad or a stuffed sweet potato. In order to dramatically reduce his biological age, 45-year-old tech entrepreneur Bryan Johnson abides by a rather unconventional eating schedule: He eats his last meal of the day at 11 a.m.Johnson has an $2 million-a-year anti-aging program known as Project Blueprint. Johnson wrote that this behavior had repercussions on his mood, sleep, and performance. Since then only "Morning Bryan" is authorized to make decisions on when, what, and how much to eat, Johnson wrote.

Persons: Bryan Johnson, Bryan Johnson abides, Johnson, Cara Cara, he's, Bryan, overate Organizations: Bloomberg, eBay, OS Fund Locations: Braintree

☆ Vice Media to Be Acquired Out of Bankruptcy by Fortress, Soros Fund
▼ + stars: | 2023-06-22 | by ( Alexander Saeedy | Jodi Xu Klein | ) www.wsj.com time to read: 1 min

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Organizations: Wall Street

☆ Vice Media, once worth billions, set to be acquired out of bankruptcy by its creditors for $225 million
▼ + stars: | 2023-06-22 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

CNN —Vice Media, the once-high flying digital media company valued at billions of dollars, is set to be acquired out of bankruptcy by three investment companies, including Fortress Investment Group, for $225 million. Bruce Dixon and Hozefa Lokhandwala, co-chief executives of Vice Media Group, informed staff of the decision in a memo Thursday morning. The acquisition agreement is the latest in a tumultuous period for Vice Media, which was once held up as the future of the business. Vice Media filed for Chapter 11 bankruptcy in mid-May. A person familiar with the matter told CNN that GoDigital was preparing to submit a bid between $300 million and $350 million.

Persons: —, Bruce Dixon, Hozefa Lokhandwala, ” Dixon, Lokhandwala, ”, Shane Smith, Nancy Dubuc, Monroe, GoDigital Organizations: CNN —, Media, Fortress Investment, Soros Fund Management, Monroe, Vice Media, “, Soros, GoDigital Media Group, CNN Locations: Fortress

☆ Vice Media declares Fortress Investment Group the winning bidder in bankruptcy sale
▼ + stars: | 2023-06-22 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

(Photo by Hutton Supancic/Getty Images for SXSW)Vice Media has declared Fortress Investment Group's stalking horse bid of $225 million the winning offer for the company as it emerges from bankruptcy. Vice received multiple bids for the company, but none of them "rose to the level of being deemed a superior bid," according to an internal memo obtained by CNBC. Vice will present the sale to bankruptcy court on Friday and expects the acquisition to close then, the company said in the memo. The sale closes a chapter for the digital media company that was valued at $5.7 billion in 2017. Vice owns a series of assets including Vice News, Vice Studios, Refinery29 and an ad agency called Virtue.

Persons: Hutton Supancic, Fortress, GoDigital, Craig Greiwe, Spokespeople Organizations: Media, Investment, CNBC, Soros Fund Management, Monroe Capital, News, Vice Studios, Cannes Lions Locations: Viceland, Austin , Texas

☆ Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media
▼ + stars: | 2023-06-16 | by ( Alex Sherman | ) www.cnbc.com time to read: +8 min

Vice Media Group logo Pavlo Gonchar | Lightrocket | Getty ImagesWhen Suroosh Alvi, Gavin McInnes and Shane Smith founded Vice magazine, which later expanded to Vice Media, they built a business based on a punk rock, counterculture image. GoDigital Media Group is a privately held conglomerate that owns video and music rights, especially in the Latin genre, and an array of different businesses. GoDigital plans to bid for Vice on Tuesday at a price between $300 million and $400 million, according to people familiar with the company's thinking. He will preach that message to Vice's employees on Day One if GoDigital acquires the company, he said. Smith, Vice's executive chairman and former CEO, couldn't be reached for comment.

Persons: Pavlo Gonchar, Suroosh Alvi, Gavin McInnes, Shane Smith, Smith, Jason Peterson, Logan Mulvey, GoDigital, Jason DeRulo, Peterson, Berkshire Hathaway, what's, Mulvey, John Leguizamo, Craig Greiwe, Sean, Diddy, Combs, couldn't, haven't, ' Peterson, Alex Wallace, Wallace, Gay Hendricks, We're, Adam Neumann's, I'm Organizations: Media, Lightrocket, Vice Media, GoDigital Media, Berkshire, Eastern Mountain Sports, NGL, Fortress Investment, Soros Fund Management, Monroe Capital, Fortress, Yahoo, CNBC Locations: Brooklyn , New York, Los Angeles

☆ George Soros Gives Control of His $25 Billion Foundation to His Son
▼ + stars: | 2023-06-12 | by ( Michael J. De La Merced | ) www.nytimes.com time to read: +1 min

After decades running one of the most prominent and politically active financial empires, George Soros is handing the reins of his $25 billion Open Society Foundations to his son Alex, the grant-making network confirmed on Monday. Alex Soros, the second-youngest of George’s five children, was elected the foundation’s chairman in December. He also serves as president of the Soros super PAC and is the only family member on the investment committee for Soros Fund Management, a private investment management firm. That will put him in charge of a philanthropic empire, funded from the billions that George Soros made from finance. Over five decades, George Soros cemented his reputation as one of the most successful investors in modern history, particularly when he made more than $1 billion by betting against the British pound in 1992.

Persons: George Soros, Alex, Wall, Soros, Alex Soros Organizations: Soros, Soros Fund Management

☆ Meet Alex Soros, the 37-year-old son of legendary investor George Soros: Once known for a highflying social life, he is now taking over a $25 billion empire.
▼ + stars: | 2023-06-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Alex Soros, the 37-year-old son of George Soros, has taken over the reins of his father's empire. He has turned his image around and is now at the helm of Soros' Open Society Foundations. Alexander Soros, the 37-year-old son of legendary investor George Soros, has taken over the reins of his father's empire in what is seen as a 180-degree departure from his previous playboy image. Alex — the elder son of George Soros and his second wife, historian Susan Weber — wasn't always in the pole position to take over the empire. An Open Society Foundations spokesperson confirmed to Insider that Alex has been named chair of the Open Society Foundations.

Persons: Alex Soros, George Soros, Alex, Alexander Soros, Alexander —, Alex —, George Soros's, Susan Weber — wasn't, Jonathan Soros, Soros, Joe Biden, Justin Trudeau, Dionysus, Heine, Nietzsche, Marx Organizations: Soros, Society, Soros Fund Management, Wall Street Journal, OSF, Wall Street, Open Society, Canadian, New York Times, New York, NBA, University of California, Biden White Locations: Southampton, —, Berkeley, Budapest

☆ George Soros hands control of his $25 billion empire to his son Alex
▼ + stars: | 2023-06-12 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

George Soros, billionaire and founder of Soros Fund Management LLC, speaks during an event on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, May 24, 2022. Philanthropist billionaire George Soros confirmed that he is handing control of his $25 billion empire to his son Alex. Soros, 92, has a net worth of $6.7 billion, according to Forbes, and is the one of the top 400 richest people in the world. The Open Society Foundations did not immediately respond to a CNBC request for comment but a spokesperson did confirm the details of the interview with the Reuters news agency. Billionaire Elon Musk recently took to Twitter to attack Soros after his Soros Fund Management cut its stake in Tesla.

Persons: George Soros, Alex . Soros, Forbes, Alex, Donald Trump, Soros, Elon Musk Organizations: Soros Fund Management, Economic, Open, Wall Street, Soros, Society, CNBC, Reuters, U.S . Democratic, Bank of England, London School of Economics, Twitter, Fund Management Locations: Davos, Switzerland, U.S, Hungary

☆ George Soros hands over his $25 billion empire to one of his sons — and yes, it's a bit like 'Succession'
▼ + stars: | 2023-06-11 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

George Soros has handed control of his foundation and investment fund to his 37-year-old son Alex. George Soros, 92, has handed the reins of his $25 billion empire to his 37-year-old son in a decision that has surprised some. There are some parallels between the Soros succession and the Roy siblings' battle for control of Waystar Royco in HBO's "Succession." "He's earned it," George Soros told the newspaper. Representatives for George Soros didn't immediately respond to a request for comment from Insider, made outside normal working hours.

Persons: George Soros, Alex, Alex Soros, HBO's, Roy, George Soros's, Soros, Jonathan Soros, Kendall Roy, Jonathan, He's, Roman Roy, Roman, Kendall, George Soros didn't Organizations: Wall Street, Morning, Soros's, Foundations, Soros Fund Management, New York, NBA, Biden White, . Locations: HBO's, White

☆ Vice Media's bankruptcy has 'killed the ad pipeline' for the company, sources say, as questions about its future roil staffers
▼ + stars: | 2023-05-18 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

Vice Media filed for Chapter 11 bankruptcy on May 15, leaving current and laid-off staffers anxious over what's next. One advertising source told Insider, "The bankruptcy has killed the ad pipeline." Employees who were laid off in recent weeks are demanding answers about how the company's bankruptcy will affect the terms of their departure. One of the former execs told Insider they were just keeping their fingers crossed that payments come through. A person close to the company said Vice Media intends to pay severance and COBRA, subject to court approval.

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