What do you do with your money when you're one of the world's wealthiest individuals? Bill Gates has amassed a net worth upwards of $91 billion as of 2018. Gates earned the majority of his vast fortune as one of the founders of Microsoft Corporation (MSFT) , where he served as CEO, chairman, and chief software architect. Gates was the largest individual shareholder of Microsoft as well, until May, 2014 when he stepped down from the chairmanship. Here is where this billionaire stashes some of his money. Investments in Corporations While Gates can credit Microsoft for the bulk of his current wealth, his shares in the companyin MSFT make up just around 20% of his holdings today. The majority of
Snap Inc.’s flagship platform has lost some luster, at least according to one social-media influencer in the Kardashian-Jenner clan.The Snapchat parent’s shares sank as much as 7.2 percent Thursday, wiping out $1.3 billion in market value, on the heels
Some people have to pay federal income taxes on their Social Security benefits. This usually happens only if you have other substantial income (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) in addition to your benefits.
CFO Jamie Miller presented at two conferences Wednesday in the greater Miami area. At the corporate level GE has gone from a cash generator to a cash burner in the past two years, and that, more than any other factor, has destroyed value for GE shareholders.
Airplane maker The Boeing Co. is facing heat these days for its determined stance in dealing with suppliers. Despite record orders, Boeing is getting some criticism for an initiative calling for some suppliers to cut costs, according to Bloomberg. Boeing’s Partnering for Success initiative aims to streamline the manufacturer’s supplier chain. And based on financial returns — with its shares doubling since the start of 2017 — Boeing can argue its plan is working. However, Bloomberg cites suppliers who claim Boeing is seeking 10 percent price cuts for their products. Boeing is coming off a bustling 2017. Boeing secured orders worth more than $90 billion in November alone. Among the highlights
When Hewlett Packard Enterprise Co. reports earnings Thursday afternoon, there will be at least one big change. This week’s conference call will be the first to feature Chief Executive Antonio Neri, who took over the top spot in early February following the departure of Hewlett-Packard veteran Meg Whitman. HPE HPE, -1.63% shares dropped 7.2% the day after the company’s last earnings report, which brought a disappointing outlook as well as the news of Whitman’s plans to step down. Thursday will mark an early opportunity for Neri to outline his vision for the company, highlight progress on the company’s goal of turning around the business, and reassure investors of a smooth transition. Investors
Investors in Chesapeake Energy Corporation CHK need to pay close attention to the stock based on moves in the options market lately. What is Implied Volatility? Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
Chris Ratcliffe | Bloomberg | Getty Images A glitch at a Japanese cryptocurrency exchange allowed some users to buy digital currencies for free, heightening concerns over the security of such trading platforms. Zaif, which is run by Tech Bureau Corp, and registered by the government, said that an error occurred with its price calculation system, allowing seven users to buy some digital coins for zero yen. The exchange did not say which cryptocurrencies those were. Six of the transactions have been voided. Zaif is trying to rectify the issue with the seventh customer who attempted to transfer the bitcoin from the exchange, a spokesperson told Reuters. The issue was discovered on February 16 and
A German court might not reach a decision on Thursday after all on whether major cities can ban heavily polluting diesel cars, a ruling being closely watched by automakers and drivers of 15 million vehicles in Europe's largest car market. Judge Andreas Korbmacher told the court he was not sure whether the country's highest federal administrative court would rule on Thursday after German states had appealed against bans imposed by local courts in Stuttgart and Duesseldorf. Korbmacher suggested that the European Court of Justice might have to consider the issue of whether driving bans are permissible despite the lack of a national enabling framework.
Mark Cutifani discusses Anglo American's earnings and the appointment of Cyril Ramaphosa as South African president.
Pam Codispoti created the now-legendary Chase Sapphire Reserve credit card, and now she runs JPMorgan Chase's expanding retail branch network. Business Insider recently spoke with Pam Codispoti, the JPMorgan Chase exec responsible for creating the Chase Sapphire Reserve credit card that became a sensation, about millennials, myths, and the other challenges she'll confront in her next job.
Billionaire David Einhorn, the head of Greenlight Capital, disclosed last week in his company's quarterly 13F report that he established 19 new positions during the fourth quarter of 2017. One of the most significant purchases that he made was in J.C. Penney (JCP), the retail giant which has become "moderately distressed," according to a report by Guru Focus. At a time when many analysts showed interest in retail, Einhorn helped to solidify the trend. Why might he have decided to focus his efforts on JCP stock in the past quarter? Nearly 6.4 Million Shares of JCP Greenlight Capital acquired close to 6.4 million shares of J.C. Penney stock in the final three months of 2017. The average purchase
February 22, 2018 – Today, Zacks Investment Ideas feature highlights Features: Nasdaq 100 triple leveraged ETF TQQQ, NVIDIA NVDA, Alibaba BABA, Lam Research LRCX and Apple AAPL. See my article on how some of us played the fear and bought the lows last week in the Nasdaq 100 triple leveraged ETF ...
Shares of General Electric Co's Baker Hughes rose on Wednesday after the parent company said it would not shed its holdings in the oilfield services business before the expiration of a two-year lockup period, reversing an earlier stance that had cast uncertainty around the stock. General Electric last November said it was considering shedding its Baker Hughes holdings to refocus its business and boost cash flows. The announcement came just months after the conglomerate had purchased a 63 percent stake in the firm under a deal that combined its oil and gas services and equipment business with Baker Hughes to create the second largest oilfield services firm by revenue.
Founded in 1916, just a few years after the Wright brothers' famous Kitty Hawk flight, The Boeing Company ( BA) has grown to become one of the largest aircraft manufacturers in the world and the most well-known name in the aerospace sector and defense industry in the United States. Boeing Capital Corporation supports all three divisions by providing financing for Boeing customers. Boeing's chief financial officer and executive vice president of Enterprise Performance & Strategy, Gregory Smith, is the largest insider shareholder of the company.
CNBC's Michelle Caruso-Cabrera reports the latest on Riot Blockchain following an in-depth investigation into its business practices.
Customers are used to paying a little more when they visit Whole Foods, but now some shoppers will actually get cash back. On Tuesday, Amazon announced that eligible Prime members using the Amazon Prime Rewards Visa Card from Chase will earn 5% back on purchases at Whole Foods. Cardholders who are not Prime members will earn 3% back on purchases at Whole Foods.
Following investing strategies of billionaire investor Warren Buffett is everyone’s dream. Buffett’s Berkshire Hathaway Inc. BRK.B has added more than 100% over the last five years (as of February 15, 2018), way better than the 73% gain of the broader
With the iPhone X described as the biggest step forward for smartphones since the original iPhone, the release of the special-edition device was supposed to be a watershed moment for Apple AAPL. During the company’s fiscal first quarter, Apple sold about 77.32 million total iPhones, down about 1% year-over-year and well below our consensus estimates (also read: Apple's First-Quarter iPhone Sales Drop 1%, Miss Estimates). Apple’s decision to dual announce the iPhone 8 and iPhone X was considered a gamble at the time, and given its sales figures in the ever-important holiday quarter—along with the myriad of reported production issues related to the X—that gamble does not seem to have paid off.
U.S. home sales unexpectedly fell in January, leading to the biggest year-on-year decline in more than three years, as a chronic shortage of houses lifted prices and kept first-time buyers out of the market. The supply squeeze and rising mortgage interest rates are stoking fears of a lackluster spring selling season. "There may be some headwinds ahead for home resales with rising mortgage costs affecting how much the buyer can afford and this could put a damper on existing home sales and take some of the wind out of the economy's sails," said Chris Rupkey, chief economist at MUFG in New York.
Even as many analysts today expressed optimism that Broadcom (AVGO) will reach a deal with Qualcomm (QCOM), there’s always room to consider alternatives. And so, RBC Capital’s Amit Daryanani, who has a rating of “Top Pick” on Broadcom, and a $325 price target, offers up his short list of possible next acquisition targets, should a Qualcomm deal fall through, a list that includes Xilinx (XLNX) and Analog Devices (ADI). Broadcom, which has been pursuing a hostile takeover of Qualcomm the last three months, today fired its latest salvo, cutting the cash portion of its bid and accusing Qualcomm’s board of being irresponsible in yesterday raising Qualcomm’s own bid for NXP Semiconductors (NXPI), a
Ford has promoted Kumar Galhotra to run its all-important North America business. The move comes one day after the Ford veteran Raj Nair resigned as the company's North America head amid allegations of inappropriate conduct. Galhotra is a 29-year Ford veteran who had served as chief marketing officer and was leading the comeback of the Lincoln brand.
Toyota Motor Corp, Asia’s No.1 carmaker, has found a way to make electric vehicles (EVs) more affordable and less vulnerable to shortages in supply of the key elements needed to produce the rechargeable batteries that power them. The key for such new wave of EVs is a magnet for electric motors developed by the Japanese firm, which halves the use of a rare earth called neodymium and eliminates the use of others called terbium and dysprosium, the company revealed on Tuesday. In their place, Toyota will use the more abundant rare earths lanthanum and cerium, which also cost about 20 times less than neodymium.
Lawyers for Rick Gates, the former Trump campaign aide indicted in October with Paul Manafort on charges of money laundering and illegal foreign lobbying, will meet again with a judge weighing their request to withdraw from the case. U.S. District Judge Amy Berman Jackson scheduled a closed-door hearing for Friday morning in Washington federal court on the request by three attorneys to quit. "Irreconcilable differences have developed with the client which make our effective representation of the client impossible," the attorneys said in a Feb. 1 submission. They didn’t elaborate. The hearing comes amid heightened activity in the case. U.S. Special Counsel Robert Mueller has filed revised charges
More older Americans are carrying significant amounts of debt into retirement. Even with low interest rates, is that wise? Consider: Older Americans, those 60 and older, had $1 trillion in household debt (mortgages, home equity loans, auto loans, student loans, credit cards and the like) in 2003. And thirteen years later, in 2016, older Americans had $2.84 trillion in household debt, a nearly three-fold increase. But should you be among those Americans who retire with debt, including a mortgage and/or a home equity line of credit (HELOC)? For most, the answer depends on the math: Can you afford to retire with debt or not? If not, your best option might be working longer to pay down that debt