DIRS.INFO The most relevant business & tech news

On the agenda today:But first: Ashley Stewart, a chief tech correspondent, is giving us a behind-the-scenes look at Salesforce's succession crisis. Salesforce's Marc Benioff. Jemal Countess / StringerOver the past week or so, at least six top executives from Salesforce and its subsidiaries announced plans to leave, Ashley Stewart, chief tech correspondent, writes. Company insiders attribute these departures to co-CEO Marc Benioff exerting increasing control over the company, adding that he's driven away his closest lieutenants while dialing up performance pressure on employees. The departures have created a crisis in leadership at Salesforce.

☆ Sam Bankman-Fried says a $16 million Bahamian house in his parents' name was actually meant to be for FTX staff
▼ + stars: | 2022-12-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried says a Bahamian house in his parents' name was meant to be for FTX staff. "It was intended to be the company's property." "I don't know the details of the house for my parents," Bankman-Fried told The New York Times' Andrew Ross Sorkin at the publication's DealBook summit on Wednesday. It was intended to be the company's property. Bankman-Fried told Sorkin on Wednesday that there were "a lot of property purchases in the Bahamas."

☆ Staff at a Bahamian restaurant said Sam Bankman-Fried often spent $2,500-a-day on luxury lunches for FTX staff, report says
▼ + stars: | 2022-11-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried used to spend thousands of dollars on staff lunches, Fox Business reported. But FTX workers never returned for happy hour, a bartender told Fox Business. Cocoplum staff told Fox Business that the restaurant was one of several that delivered lunch to the FTX HQ on a regular basis for a cost of about $10,000 a day. Despite telling Bloomberg in April that he didn't want a yacht, Fox Business reported that Bankman-Fried owned a 52-foot yacht worth millions of dollars. Bankman-Fried declined to answer Fox Business when asked if he used client assets to fund his purchases.

☆ An executive at an FTX affiliate threw up when he learnt of the crypto exchange's impending collapse, report says
▼ + stars: | 2022-11-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

FTX Digital Markets' co-CEO threw up when he learnt of FTX's problems, sources told the WSJ. A former EY senior tax account, Salame joined Alameda in 2019 before helping him set up FTX parent company FTX Trading Ltd. In September 2021 Salame became co-CEO of FTX Digital Markets, which describes itself as the Bahamian subsidiary of FTX Trading Ltd. "FTX Digital Markets offers users regulated access to FTX's industry-leading derivatives, options, volatility products, and other FTX products and services," it says on its LinkedIn page. FTX Digital Markets filed for Chapter 15 bankruptcy protection on Tuesday in the Southern District of New York.

☆ Even Elon Musk's mom admits no one wants to be him: 'He gets a lot of hate. Stop being mean to him.'
▼ + stars: | 2022-11-12 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elon Musk is smarter than Einstein, the former talent chief of SpaceX told a BBC documentary. Dolly Singh said Musk's legacy would be a combination of Einstein, Rockefeller and Tesla. In the second episode, Singh said she believed Musk was smarter than Einstein. Once Musk "has done building his legacy, it will be unquestionable that he is a combination of Einstein, Tesla, and Rockefeller," Singh added. The Elon Musk Show will not be broadcast outside the UK due to rights issues, the BBC said.

☆ Elon Musk ruthlessly fired Twitter CEO Parag Agrawal. He's the latest in a long line of Silicon Valley giants to face Musk's wrath, from Jeff Bezos to Mark Zuckerberg.
▼ + stars: | 2022-11-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Parag AgrawalKevin Dietsch/Getty ImagesMusk and Twitter CEO Parag Agrawal met for a meal in March. But eight months later, Musk took ownership of Twitter and one of his first moves was firing Agrawal and a number of other top execs. Musk had been set to join Twitter's board in the spring after becoming the company's biggest shareholder. Agrawal understandably didn't like the tweet and told Musk that "it's not helping me make Twitter better in the current context." Within days of Musk terminating the deal, Twitter sued him to force him to complete the deal, accusing him of "refusing to honor his obligations."

☆ One of Twitter's top execs quit the day after tweeting that she had a 'great discussion' with Elon Musk about the company's future
▼ + stars: | 2022-11-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Twitter's CCO said she quit her job just hours after Elon Musk completed his $44 billion takeover. On Thursday, Personette tweeted that she'd had a "great discussion" with Musk. "Remember that we create the organization we want to be a part of," Personette tweeted. Personette tweeted on Thursday, just hours before the deal went through, that she'd had a "great discussion" with Musk the prior evening. Personette resigned the day after posting the tweet.

☆ Twitter staff have been told to work 84-hour weeks and managers slept at the office over the weekend as they scramble to meet Elon Musk's tight deadlines, reports say
▼ + stars: | 2022-11-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Twitter managers have told some staff work 12-hour shifts, seven days a week, CNBC reported. Some managers told The New York Times they slept at Twitter's office on Friday and Saturday nights. Twitter managers have told some staff to work 12-hour shifts, seven days a week — equivalent to 84 hours a week — to meet Musk's deadlines, CNBC reported, citing internal communications. Insider previously reported that Musk's team assigned some of Twitter's engineers coding projects to work on over the weekend, known as sprints. Some Twitter managers told the publication that they felt like they were being assessed.

☆ Elon Musk has dissolved Twitter's 9-person board of directors and become its sole director
▼ + stars: | 2022-10-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Elon Musk has scrapped Twitter's board of directors. Musk had himself tried to join Twitter's board in the spring before clashing with then-CEO Parag Agrawal. When first outlining his plans for his ownership of Twitter, Musk said he would need to take the company private to make his desired changes. The same evening, Musk also ousted CFO Ned Segal, chief legal officer Vijaya Gadde, and general counsel Sean Edgett, sources told Insider. Musk had himself been set to join Twitter's board before he offered to buy the company, but u-turned after clashing with Agrawal over text.

☆ UK will not take action over Czech mogul's plan to raise Royal Mail stake
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Britain is no longer intervening in Czech billionaire Daniel Kretinsky's plan to increase his stake in Royal Mail parent International Distributions Services (IDSI.L), sending the company's shares up more than 7% on Monday. In August, Royal Mail said it had been notified by then business minister Kwasi Kwarteng that he was exercising powers to look into proposals by Kretinsky's vehicle, Vesa Equity Investment, under the National Security and Investment Act. The Royal Mail review came days after the government decided not to take action over billionaire Patrick Drahi's stake in telecoms firm BT (BT.L). Vesa, Royal Mail's biggest shareholder which is ultimately controlled by Kretinsky and his business partner Patrik Tkac, in August said it had voluntarily contacted the government to inform them of its intention to increase its stake in Royal Mail, which is currently just over 22%. "Vesa Equity Investment welcomes the decision ... and reiterate our commitment to continuing long term investment presence in the U.K., including our partnership with Royal Mail," a spokesperson said.

☆ Jeffrey Katzenberg's WndrCo is betting big on cybersecurity tech and consumer VPNs as 'concerns around privacy have exploded'
▼ + stars: | 2022-10-18 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Jeffrey Katzenberg and his WndrCo partner Sujay Jaswa are betting big on VPNs and other cybersecurity tech. WndrCo has $1.7 billion in net asset value and is looking for companies that can change the world. The company has acquired or invested in VPNs including Super Unlimited, a top app on Apple's App Store. Like everyone else in the global workforce, Jeffrey Katzenberg and Sujay Jaswa, his investing partner at venture firm WndrCo, use Zoom to connect. WndrCo made several other VPN acquisitions, ultimately merging them into a single cybersecurity venture called Aura, in which WndrCo is a significant stakeholder.

☆ Elon Musk is a combination of Einstein, Tesla, and Rockefeller, says a former SpaceX exec – but even his mother admits no one wants to be him
▼ + stars: | 2022-10-16 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

☆ Ukrainian collaborators who sided with Russian occupation were given top jobs and fancy titles. Now they're being hunted down.
▼ + stars: | 2022-09-23 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +11 min

Around half the city has fled since Russia occupied the city in February, according to its elected mayor, Ivan Fedorov. On August 5, both Ukrainian and Russian sources reported that Vladimir Saldo has been put into a medically induced coma, citing a suspected poisoning. Saldo had the head of the government in the occupied city of Kherson. The business was owned by Balitsky and formerly had many Russian and Belarusian contracts, according to the BBC's Russian service. More than 1,300 people are under investigation for aiding the Russians in Ukraine, according to Ihor Klymenko, Ukraine's Head of National Police.

A real estate limited partnership (RELP) is a private investment that pools investors' funds to buy, develop, and sell properties. Cue the real estate limited partnership (RELP), which lets you pool your money with other investors to buy, lease, and ultimately sell buildings. A real estate limited partnership, or RELP, is a legal entity formed to invest in real estate ventures. "Limited partnerships exist for varying durations, from months to decades, based on the business plan with the target investments," says Tom Blake, founder of Flexible, a tech-enabled real estate company that offers bespoke real estate transactions. The bottom lineReal estate limited partnerships let investors pool their resources to buy and develop real estate.

Search resuls for: "mogul's"

14 mentions found