Monthly Archives: October 2022

Elon Musk’s surrender on buying Twitter could deliver a $255 million profit to a Florida hedge fund, report says

Elon Musk’s Twitter account. Chesnot/Getty Images A hedge fund in Florida could make a profit of more than $250 million as Elon Musk revives his Twitter buyout.  Pentwater Capital bought 18.1 million Twitter shares for roughly $725 million in the second quarter, according to CNBC. That stake would be worth about $980 million if Musk…

Elon Musk likely faces a ‘staggering’ legal bill as high as $100 million after his failed attempt to back out of buying Twitter

Elon Musk on March 9. Photo by Yasin Ozturk/Anadolu Agency via Getty Images Elon Musk could be facing up to $100 million in personal legal fees after renewing his offer to buy Twitter. Both Twitter and Musk employed over 50 lawyers in the months leading up to the trial. Lawyers at the top firms can…

Wharton Professor Jeremy Siegel says he’s disturbed by the Fed’s groupthink as there are no members who have dissented with Powell’s hawkishness

Wharton professor Jeremy Siegel is a long-time market commentator. REUTERS/Steve Marcus Wharton professor Jeremy Siegel is disturbed by the Fed’s apparent lack of diversity in thought.Siegel said no Fed members are opposed to Jerome Powell’s current hawkish stance, and that risks another policy error.“Their talking points are getting them into the feeling that the only…