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Wall Street is throwing cheap credit at ultra-wealthy clients and they re buying yachts, jets, art and real estate
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Robinhood got its $32-billion IPO after it parlayed a Wall Street rebel image into a way for the Wall Street elite to cash in
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By now you ve heard more than you ve ever wanted to know about Jeff Bezos space adventure, the backstories of his crewmates and the shape of his rocket. But there s another powerful tech billionaire whose odyssey you re probably not as familiar with - and that s not by accident.
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Google cofounder
Larry Page, long known for reclusive tendencies, has essentially disappeared from public view since handing over the Alphabet CEO keys to Sundar Pichai two years ago. Page still holds majority voting control, along with cofounder Sergey Brin, of a company worth $1.8 trillion. So it s not unreasonable to wonder what he s up to.
There is a big buzz about the Zomato IPO. The online food delivery service has caught the investors’ eye and the Rs 9,375 crore offer has seen over-subscription 38.24 times. The big qualified institutional investors bid nearly 52 times; and even the smallest retail segment was over-subscribed 7.45 times. The share listed on Friday opening at Rs 116, a 53% premium over the issue price of Rs 76.
There is euphoria because of its sheer size - after all, Zomato is the second largest IPO after Coal India’s stake sale in October 2010. Does it now herald another ‘digital’ round as Paytm, Flipkart and Ola queue up to make their IPO debuts. The obvious ‘success’ trigger is the nature of the business the immense possibilities of online food delivery at a time when consumer options have been frozen by the Covid-19 pandemic.
WeWork: The millennial start-up dream that shattered into pieces
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