Tag Archives: Soros

Elon Musk unleashes in fiery Joe Rogan podcast: Tesla owner slams George Soros for ‘eroding the fabric of civi – Daily Mail

  1. Elon Musk unleashes in fiery Joe Rogan podcast: Tesla owner slams George Soros for ‘eroding the fabric of civi Daily Mail
  2. ‘Humanity is on a rapid path to oblivion’: Billionaire investor Bill Ackman urges Mark Zuckerberg and Elon Musk to stop amplifying hate for dollars Fortune
  3. Elon Musk Makes Cringeworthy ‘Hummus’ Joke to Joe Rogan While Discussing Gaza Bombing: ‘Chickpeas!’ Mediaite
  4. Musk Tells Rogan Twitter ‘Suppressed’ Republicans ’10 Times’ More Than Dems Newsweek
  5. Elon Musk says he bought Twitter to save the world from ‘human extinction’ UNILAD
  6. View Full Coverage on Google News

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Elon Musk compares George Soros to Jewish supervillain – The Washington Post

  1. Elon Musk compares George Soros to Jewish supervillain The Washington Post
  2. Elon Musk Vs George Soros: Billionaires Feud & Tesla Shares Dump | Watch Why? Buzz Around The Globe India Today
  3. Elon Musk Says George Soros, Who Just Dumped His Tesla Stock, ‘Hates Humanity’ Yahoo News
  4. Elon Musk says George Soros ‘hates humanity,’ reminds him of ‘Magneto’ in viral Twitter skirmish Fox News
  5. Police brace for all possibilities at Jerusalem Flag March as Hamas issues threats The Times of Israel
  6. View Full Coverage on Google News

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Billionaire George Soros Bets on Musk’s Tesla and Ford

George Soros seems to have picked his winners in the race for electric vehicles. 

In any case, the emblematic investor is placing his pawns while car manufacturers are fighting with thunderous announcements to occupy this market considered to be the future of the automobile in the medium term at least. 

Soros, who had so far been content to invest in young startups like Lucid  (LCID)  and Rivian  (RIVN) , has just adjusted his strategy. He has just chosen Tesla  (TSLA) , the world leader in the sector led by its charismatic CEO Elon Musk. 

Soros, 92, is also betting on Ford  (F)  and its CEO Jim Farley. 

Indeed, billionaire’s firm Soros Fund Management has just revealed that it acquired 29,883 Tesla shares, according to a regulatory document filed with the Securities and Exchange Commission on Aug. 12, mentioning its holdings in equities that trade in the U.S. as of June 30. 

This stake in Tesla is valued at just over $20.1 million as of June 30. But its value has already risen since as Tesla stock has jumped nearly 34% since June 30.

This is the first time Soros has invested in Tesla.

Soros Has a Surprise

What is surprising, however, is that if Soros believes in Musk and Tesla, he has also bet on Twitter  (TWTR) , which is currently in a row with the tech mogul after he withdrew his $44 billion acquisition offer of the microblogging website. A trial to take place in five days is scheduled from Oct. 17.

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Soros Fund Management bought 29.5 million Ford shares. The move seems to suggest that Soros is seduced by Farley’s strategy, which has split the Dearborn, Mich., automaker into separate entities. 

Activities linked to internal-combustion-engine, or gasoline-fueled, cars, including iconic models like the SUV Bronco Sport, the F-150, and the Mustang Ranger, became part of a unit called Ford Blue. 

The operations of battery-electric vehicles, in a unit called Ford Model e, are seen as Ford’s long-term future, with the launch of vehicles like the Ford Mustang Mach-E, F-150 Lighting pickup and more to come. 

The company’s ambitious goal is to produce 2 million electric vehicles by 2026. 

Ford, however, sold just 27,140 EVs in the U.S. in 2021.

Stock market regulations require managers of funds with more than $100 million in U.S. equities to file a document, known as a 13F, within 45 days of the end of the quarter to list their holdings in stocks that trade on U.S. exchanges.

The value of Soros’ U.S. equity portfolio rose 5.3% quarter over quarter to $5.6 billion. Soros Fund Management is a family office that manages public and private equity. 

“SFM invests globally in a wide range of strategies and asset classes, including public equities, fixed income, commodities, foreign exchange, alternative assets and private equity,” the firm said on its website.

Soros, whose net worth is estimated at $8.5 billion as of Aug. 12 according to Bloomberg Billionaires Index, is well known for pouring money into philanthropic efforts. Most of his firm’s assets belong to Open Society Foundations, which supports “people across the world who work for justice, equity and free expression.”



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Soros Urges Europe to Levy Heavy Taxes on Russian Gas to Punish Putin

  • George Soros said Europe may have more bargaining power than it thinks it has in dealing with Russia.
  • The billionaire called on Europe to levy a “hefty tax on gas imports.”
  • Soros also Russia’s invasion of Ukraine could trigger World War III and lead to the end of civilization.

Europe may have more bargaining power than it thinks when it comes to dealing with Russia.

That’s according to billionaire George Soros, who has urged Europe to use its position as a major consumer of Russian natural gas to take a tougher stance against Russia, Bloomberg reported.

The hedge-fund tycoon, who was speaking on the sidelines of the World Economic Forum (WEF) in Davos on Tuesday, said he sent his views to Italian Prime Minister Mario Draghi, per the news outlet. 

“Europe is his only market,” Soros wrote to Draghi on May 23, Bloomberg reported, citing a copy of the text.

In 2021, the developed economies of Europe were by far the largest importers of Russian natural gas, collectively accounting for almost three-quarters of the country’s total exports, according to the US Energy Information Administration.

“If he doesn’t supply Europe, he must shut down the wells in Siberia from where the gas comes,” Soros continued, according to the news outlet. “It takes time to shut them down and once they are shut down, they are difficult to reopen because of the age of equipment.”

Soros also called on Europe to levy heavy taxes on gas imports. “Russia would never regain the sales it has lost,” he wrote, per Bloomberg.

The philanthropist and donor to liberal political causes said at a dinner at the WEF on Tuesday that Russia’s invasion of Ukraine could trigger World War III, which civilization may not survive.

“We must mobilize all our resources to bring the war to an early end. The best and perhaps only way to preserve our civilization is to defeat Putin as soon as possible,” he said, per AFP.

Soros said he wrote to Draghi as the Italian leader is one with “initiative” and “imagination,” Bloomberg reported.

Before taking office as Italy’s prime minister in February 2021, Draghi was the president of the European Central Bank for eight years. In his tenure as Europe’s top central banker, he is credited with saving the euro from collapse during the eurozone’s debt crisis that peaked between 2010 and 2012.

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Ukraine invasion may be start of ‘third world war’, says George Soros | George Soros

Russia’s invasion of Ukraine threatens to be the “beginning of the third world war” that could spell the end of civilisation, the veteran philanthropist and former financier George Soros has warned.

In a ferocious attack on Vladimir Putin and China’s Xi Jinping at the World Economic Forum in Davos, Soros warned that autocratic regimes were in the ascendant and the global economy was heading for a depression.

Soros, who has become a hate figure for the hard right in the US, also heavily criticised the former German chancellor Angela Merkel for cosying up to Moscow and Beijing.

With the mood in Davos already downbeat due to the war in Ukraine, Soros ramped up the gloomy rhetoric to new heights.

“The invasion may have been the beginning of the third world war and our civilisation may not survive it,” he said.

“The invasion of Ukraine didn’t come out of the blue. The world has been increasingly engaged in a struggle between two systems of governance that are diametrically opposed to each other: open society and closed society.”

The 91-year-old former hedge fund owner said the tide had started to turn against open societies in the aftermath of the 9/11 terrorist attacks on the US in 2001. “Repressive regimes are now in the ascendant and open societies are under siege. Today China and Russia present the greatest threat to open society.”

Soros, who led the speculative financial attack that drove the pound out of the European exchange rate mechanism 30 years ago, said Europe had responded well to the crisis triggered by Russia’s invasion.

“It will take a long time to work out the details, but Europe seems to be moving in the right direction. It has responded to the invasion of Ukraine with greater speed, unity and vigour than ever before in its history.”

He added: “But Europe’s dependence on Russian fossil fuels remains excessive, due largely to the mercantilist policies pursued by former chancellor Angela Merkel. She had made special deals with Russia for the supply of gas and made China Germany’s largest export market. That made Germany the best performing economy in Europe but now there is a heavy price to pay. Germany’s economy needs to be reoriented. And that will take a long time.”

Soros said Putin had won Xi’s agreement to the Russian invasion at the opening of the Beijing Winter Olympics in early February. But he insisted the Chinese leader was not as strong as he believed.

“Xi harbours a guilty secret. He never told the Chinese people that they had been inoculated with a vaccine that was designed for the original Wuhan variant and offers very little protection against new variants.”

Soros said Xi was unable to “come clean” because he was at a delicate moment in his career. “His second term in office expires in the fall of 2022 and he wants to be appointed to an unprecedented third term, eventually making him ruler for life.”

China’s lockdowns to combat Covid-19 had pushed the economy into freefall but Xi was unable to admit he had made a mistake, he said.

“Coming on top of the real estate crisis the damage will be so great that it will affect the global economy. With the disruption of supply chains, global inflation is liable to turn into global depression.”

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Contrary to general expectations, Xi may not get his coveted third term because of the mistakes he had made, Soros predicted.

“While the war rages, the fight against climate change has to take second place. Yet the experts tell us that we have already fallen far behind, and climate change is on the verge of becoming irreversible. That could be the end of our civilisation.

“Therefore, we must mobilise all our resources to bring the war to an early end. The best and perhaps only way to preserve our civilisation is to defeat Putin as soon as possible. That’s the bottom line.”

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Billionaire Soros buys stake in EV startup Rivian

NEW YORK, Feb 11 (Reuters) – (This Feb. 11 story has been corrected to delete reference to consumer vehicles in second paragraph)

Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc (RIVN.O) in the quarter ended Dec. 31, securities filings showed Friday.

The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in the company. Rivian, which is 20% owned by Amazon.com Inc , is expected to provide the e-commerce company with more than 100,000 electric trucks.

Irvine, California-based Rivian said in December it expected production to fall “a few hundred vehicles short” of its 2021 target of 1,200 due to supply chain constraints, highlighting the likely challenges in ramping up production to take on EV leader Tesla Inc (TSLA.O).

Shares of Rivian fell 9% Friday and are down 43% for the year to date. The stock price is down 67% from the high of $179.46 it touched on Nov. 16, less than a week after it raised $12 billion in the largest stock debut of 2021.

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Reporting by David Randall; Editing by Richard Chang

Our Standards: The Thomson Reuters Trust Principles.

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BlackRock responds to George Soros’ criticism over China investments

George Soros, billionaire and founder of Soros Fund Management LLC, pauses while speaking at an event on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 23, 2020.

Simon Dawson | Bloomberg | Getty Images

LONDON — BlackRock, the world’s largest asset manager, has responded to sharp criticism from billionaire investor George Soros over the firm’s investments in China.

Writing in The Wall Street Journal on Tuesday, Soros described BlackRock’s initiative in China as a “tragic mistake” that would “damage the national security interests of the U.S. and other democracies.”

The op-ed, entitled “BlackRock’s China Blunder,” said the firm’s decision to pour billions into the country was a “bad investment” likely to lose money for its clients.

It comes shortly after BlackRock launched a set of mutual funds and other investment products for Chinese consumers. The initiative saw BlackRock become the first foreign-owned company to operate a wholly owned business in China’s mutual fund industry.

The asset manager told CNBC on Wednesday that its China mutual fund subsidiary set up its first fund in the country after raising 6.68 billion Chinese yuan ($1.03 billion) from more than 111,000 investors.

“The United States and China have a large and complex economic relationship,” a BlackRock spokesperson said in response to Soros’ comments.

“Total trade in goods and services between the two countries exceeded $600 billion in 2020. Through our investment activity, US-based asset managers and other financial institutions contribute to the economic interconnectedness of the world’s two largest economies.”

BlackRock’s Investment Institute recommended in mid-August that investors boost their exposure to China by as much as three times in some cases. Earlier in the year, CEO Larry Fink in a letter to shareholders described China’s market as a “significant opportunity to help meet the long-term goals of investors in China and internationally.”

A sign for BlackRock Inc hangs above their building in New York.

Lucas Jackson | Reuters

“The overwhelming majority of the assets BlackRock manages are for retirement. BlackRock’s clients around the world — including many US clients — seek a broad range of investments, including in China, to achieve their retirement and other financial objectives,” the spokesperson said.

BlackRock added that it believes it can help China to address its growing retirement crisis by providing retirement system expertise, products and services.

“We believe that globally integrated financial markets provide people, companies, and governments in all countries with better and more efficient access to capital that supports economic growth around the world.”

‘Situation now is totally different’

Soros said on Tuesday that BlackRock’s investments in China showed the firm appeared to “misunderstand” Chinese President Xi Jinping.

Beijing has cracked down on multiple companies this year, prompting a sharp sell-off in Chinese stocks. Soros warned that while new rules were designed to target tech companies, they should also be regarded as a sign that Xi will do whatever it takes to stay in power.

“Earlier efforts could have been morally justified by claims that they were building bridges to bring the countries closer, but the situation now is totally different,” Soros said. “Today, the US and China are engaged in a life-and-death conflict between two systems of governance: repressive and democratic.”

Writing for the Financial Times in a separate op-ed published on Aug. 30., Soros said investors in Xi’s China face a “rude awakening,” before adding that Xi’s crackdown on private enterprise showed he “does not understand the market economy.”

BlackRock reported on July 14 that its assets under management climbed to a record $9.49 trillion in the second quarter, up from $7.32 trillion a year earlier.

Shares of BlackRock are up over 28% year-to-date.

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