“My perspective, and that of many shareholders, is that if it’s a personal benefit, then the CEO – who is already highly paid – should be paying for it himself, rather than the shareholders,” Hodgson said. More than 14 years later, and it’s likely still fresh in his mind because it’s not every day that one incurs what is the greatest single-day hit to personal wealth in capital market history.That day, as the CEO and majority shareholder of software company MicroStrategy Inc. (MSTR), whose clients now include Facebook (FB) and Starbucks (SBUX), Saylor lost $6.1 billion of his reported $15 billion fortune.Saylor’s historic loss was a result of MicroStrategy’s price per share freefalling $140 in a single day after the price fell to $86.75 from the previous day’s close of $226.75.The stock price's sharp decline was the result of a major restatement of MicroStrategy’s earnings. Bitcoin 2021 will move the biggest Bitcoin event in history to Miami, targeting dates of June 4–5, with Jack Dorsey, Chamath Palihapitiya, Nick Szabo and Tony Hawk as headline speakers! Investors might be shocked to learn what lies behind the recent muscular share price growth of Freedom Holding Corp., a Las Vegas–incorporated bank and securities brokerage with its principal office in Almaty, Kazakhstan. Schiller couched it as an initiative to help small businesses during the Covid-19, but acknowledged under questioning that the company was also pivoting in response to worldwide scrutiny over App Store practices.In an attempt to demonstrate that Apple favors its in own apps in search results on the App Store -- another type of anticompetitive behavior -- Forrest showed an exhibit of Apple Music and Apple News appearing on the top of search result rankings instead of third-party apps.Schiller had an answer for that too: Search algorithms look at dozens of different variables, including which apps users already have on their devices.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Bitcoin and ether tumbled on Wednesday to 3-1/2 month lows, on track to post their largest one-day loss since March last year, in the wake of China's move a day ago to ban financial and payment institutions from providing cryptocurrency services. The yacht’s owner is Michael Saylor, he is a bitcoin “guru”. The boat is not available for yacht charter. The divide between retail and residential is marked by the wood-wrapped exterior of the structure’s second-floor — a unique way to make a visible distinction between sections of a mixed-use … Shareholders may turn a blind eye to Saylor’s exorbitant lifestyle, but the array of expensive perks MicroStrategy’s board signs off on gives every indication of contributing materially to the bottom line. And Saylor, according to real estate records examined by the Southern Investigative Reporting Foundation, is not likely to be in much danger at his tony Georgetown townhouse or during the 12.5-mile daily commute (one way) to the company’s Tysons Corner, Virginia, headquarters. According to the Southern Investigative Reporting Foundation’s research, the figure was more than twice as much as that of software companies with similar revenue. Roivant representatives declined to comment on the transaction. It ended up in a Madrid court after Spain's largest lender dropped plans to make Orcel, previously the top investment banker at Swiss bank UBS, chief executive as a result of a dispute over his pay package. (Updates with sales details in the eighth paragraph. He said any 24/7 video surveillance system that costs more than $2,500 per month would be “remarkably expensive” for the company when compared with other home security systems.“There are homes that we protect for U.S ambassadors, major league athletes and entertainers, and they’re perfectly happy with what we provide,” Rogers said.While security expenses among Fortune 500 CEOs have been reported to be rising, MicroStrategy’s policy puts it among some of the anchors of the American economy. Fleet Miami LLC is a luxury yacht charter business founded by Saylor and, according to its website, offers nine yachts to customers.Another perk that Saylor enjoys is reimbursement of state and federal income taxes on these benefits. He cited the fact the yuan has weakened past 7 per U.S. dollar -- previously seen as an important psychological threshold -- in the past two years, and said it’s one of the more volatile major currencies in the world.The yuan will appreciate against the U.S. dollar in the long term as a result of China’s continued economic growth and the rising purchasing power of the currency, as well as the Federal Reserve’s repeated monetary easing, according to the speech. You may not remember where you were on March 20, 2000, but it’s a very safe bet that a man named Michael Saylor does. “We’re looking at this saying: Alright, on sale. My yacht Harle cruising off the coast of Grenada yesterday. In 2013, Saylor’s use of the company’s aircraft totaled $737,469, albeit with “non-business” use of the company jet limited to less than 200 hours a year. Schiller said he wasn’t involved in the case, but Forrest said the monitor tried in vain for a year and a half to get permission to interview Schiller.Another point of contention was Apple’s announcement in November of a new program to reduce App Store fees from 30% to 15% for developers who generate under $1 million per year in revenue. How are you looking at inflation and how are you saying, “Well, I think if inflation’s this, that’s my hurdle rate, plus whatever risk premium.” Talk us through how you would define it, considering CPI is so broke. RATES. Compared with a previous ban issued in 2017, the new rules greatly expanded the scope of prohibited services, and judged that "virtual currencies are not supported by any real value". By Diane M. Byrne on 11.16.18. Oh and by the way, the bull market had broadened out.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. MADRID (Reuters) -Santander boss Ana Botin defended the bank's actions in a court hearing over the withdrawal of a multi-million euro offer more than two years ago to make Italian banker Andrea Orcel its CEO. Yacht Charter. Built with the Largo WordPress Theme from the Institute for Nonprofit News. With 9 bedrooms, 6 full bathrooms, 1 full-sized kitchen and 1 wet bar kitchen, 2 spas, and much more, it has become a popular vacation destination. Most photos on this page by Raphael Belly Photography. Nor is Saylor, according to real estate records SIRF examined, likely in much danger at his tony Georgetown townhouse or during the 12.5-mile daily commute (one way) to the company’s Tysons Corner, Va., headquarters (for which he was reimbursed $29,000).SIRF asked Paul Hodgson, an executive-compensation specialist at the governance consulting firm, BHJ Partners, his opinion of the security expense provisions.“My perspective, and that of many shareholders, is that if it’s a personal benefit, then the CEO – who is already highly paid – should be paying for it himself, rather than the shareholders,” Hodgson said.There are other benefits to being the CEO of MicroStrategy. More than 14 years later, it’s likely still fresh in his mind; after all it’s not every day that someone incurs what is the greatest single-day hit to personal wealth in capital markets history. But adding the mineral to a raft of curbs already in place on Australian commodities would be a risky move given near-record prices and China’s dependence on Australia’s high-quality supply for about two-thirds of its imports.“While an outright ban would be almost unimaginable, various forms of restrictions, delays or increased administrative burdens on Australian iron ore imports could yet happen,” Wood Mackenzie said in a recent note.Chinese industrial commodities prices powered on, meanwhile, recovering much of their poise after last week’s pullback.Citigroup said further gains for markets like steel, aluminum and coal are supported by solid demand and a policy agenda that includes “domestic production crackdowns for environmental, energy and safety control purposes,” according to a note from the bank.At the same time, an acceleration in credit tightening is unlikely in the foreseeable future after the central bank expressed only limited concern about the surge in commodities prices feeding through into CPI, Citigroup said.Otherwise, the day’s agenda is led by China’s agricultural imports for April. You know, it didn’t go up 2%. Qlik’s proxy notes that CEO Lars Björk’s employment agreement had provided for certain unspecified living expenses up to $75,000 per year, according to page 47 of the statement, but the benefit was eliminated after a 2011 salary increase. (Bloomberg) -- Beijing threw the spotlight on trade tensions with its top commodities supplier, Australia, after the government’s economic planning agency said it’s looking to diversify China’s supply of iron ore.Chinese firms should boost domestic exploration for the steel-making input, widen their sources of imports, and explore overseas ore resources, the National Development and Reform Commission said at its monthly briefing.The NDRC also said Australia should stop damaging economic and trade cooperation with China and take measures to promote the healthy development of bilateral ties.Iron ore is Australia’s biggest export earner, and relations with Canberra have taken a turn for the worse in recent weeks. To U.S. oncologists who treat individuals with small cell lung cancer, lurbinectedin’s arrival was a big deal. 29.5K. -- Boasting a combined purchase and renovation price tag in excess of $40 million, William H. Dean ('Billy' to his close friends)'s Terra Veritatis estate represents the most extensive revitalization of a single family property in Miami Beach history. (“Alternative car services” was defined as “services of one or more drivers for vehicles other than a Company-owned vehicle.”) While these benefits are not illegal, according to SIRF’s research they are indeed uncommon among midsized and even some Fortune 500 companies.Shareholders may turn a blind eye to Saylor’s exorbitant lifestyle, but the array of perks MicroStrategy’s board signs off on gives every indication of contributing materially to the bottom line. “The issue that caused the withdrawals was fixed and incremental safeguards have been developed to prevent any similar issue in the future.”The erroneous deposits have not affected BlockFi’s ongoing operations and the company is notching record levels of trading volume without interruption, he added.Meanwhile, screenshots of the deposits made their rounds on social media, with at least one Tweet showing a deposit of 700 Bitcoin. RTW Investments LP -- which is providing bridge financing for Roivant’s SPAC deal with Montes -- cut its holdings by 16% to 6.36 million shares, leaving it with a 6.5% stake. (“Alternative car services” was defined as “services of one or more drivers for vehicles other than a Company-owned vehicle.”) While these benefits are not illegal, according to the Southern Investigative Reporting Foundation’s research, they are indeed uncommon among midsized and even some Fortune 500 companies. Saylors Sandcastle is a beautiful beachfront rental home nestled peacefully between the Pacific Ocean and the tall green hills of northern Ventura, California. They’re called blank-check companies because they raise money from investors with the goal of buying an existing private business, typically without identifying a target.In this case, Roivant already said in a March filing it wants to re-acquire Immunovant, which is testing a treatment for autoimmune diseases. (Bloomberg) -- It’s the latest twist in the world of blank-check mergers: A company plans to go public with a SPAC and use it to buy back an affiliate that it took public using another SPAC.This circular scenario revolves around a drugmaker called Roivant Sciences Ltd., which wants to merge with a special-purpose acquisition company and then take over a SPAC that acquired Immunovant Inc. from Roivant less than two years ago.What’s more, Roivant says it knows something that everyone else doesn’t about its former unit, and it’s willing to pay a premium for the shares -- perhaps as much as 70% by one estimate.A SPAC-on-SPAC deal is such an oddity that people who follow shell companies can’t remember it happening before, or anything like Roivant’s head-spinning version. Not all companies hold over $2bn of crypto The price of bitcoin is now down more than 30% so far in May, on track for its worst month since November 2018. Please … Our decision to move Bitcoin 2021 from Los Angeles to Miami was not an easy one, but given the circumstances regarding availability in the State of California, we feel the move is necessary … The stock is up 80% this year.Jaguar Land Rover posted a pretax profit of 534 million pounds in the quarter after selling 12% more vehicles. JPMorgan declined to comment and Novak did not respond to a request for comment. Reminds us why we like boats. Michael Saylor launches Fleet Miami, a yacht sharing program with a hefty membership fee, perfect for luxury lovers. I think we all share the vision of a better world, empowered by technology - powered by clean, renewable energy.” While a host of factors can influence profitability measures, software and analytics enterprises are often popular with investors because of their generally larger margins.One likely culprit in the weaker margins is the 2007 purchase of a $46 million Bombardier jet, and nearly $1.4 million of NetJets expenses he racked up in 2010 and 2011 when a February 2010 blizzard collapsed the roof of the Bombardier’s airplane hangar.Some of Saylor’s other benefits include $2,410 for a business club membership, $65,000 in tax advisory fees to file foreign entity tax forms, and $5,269 to sublease office space for a pair of companies Saylor owns, Aeromar Management Co. LLC and Alcantara LLC.Aeromar happens to be the parent company of Fleet Miami LLC. In 2013, these totaled $746,340. Miami Beach Residential Tower combines two levels of retail, including a restaurant, with its residential floors. Dec. 6 was an extraordinary day for Synchronoss Technologies’ shareholders. Champion growth investor Cathie Wood has had a tough year. While that’s worth a modest $27 million, it’s the first time the firm has purchased Tesla since April.Tesla has dropped 38% from its January peak as inflationary fears spur investors to sell expensive assets -- prompting Wood to demonstrate her propensity to enlarge Ark’s positions in favorite tech bets at market lows.The firm also recently bought Twitter Inc. amid its worst week since October. Barrett for Byron D. … … pic.twitter.com/nvqV0qjizr, — Michael Saylor (@michael_saylor) January 22, 2014. Local tech executive Michael Saylor’s 154-foot luxury motor yacht is called USHER. Wood thinks the latest plunge could be a good thing for the prospects of approval. That’s a really great time to buy no matter what the asset is.”Wood has consistently loaded up on shares of Coinbase Global Inc. in the past two weeks as the cryptocurrency exchange has dipped below its April direct listing reference price and to a record low on Wednesday.In the interview, Wood also addressed the prospects for a Bitcoin exchange-traded fund to be approved in the U.S. this year, which appears to some less likely after a string of comments from regulators. This December 1 to 4, Art Basel Miami Beach will host 269 galleries, plus thousands of visitors, from around the world. Activist investor Apex Capital Corp., owner of 467,100 shares as of Feb. 27, hankers for Saylor’s departure. Chief Executive Officer Thierry Bollore has outlined plans to cut costs by 2.5 billion pounds and reduce headcount by 2,000 while accelerating an electrification drive.The company said it has reduced expenses to lower its breakeven point to 400,000 vehicle sales a year, from 600,000 in 2019.Tata said its own operations will show a “relatively weak” performance in the current quarter as the Covid-19 outbreak hampers production and commodity prices increase. In the past, Michael has also been known as Michael J Saylor. Your email address will not be published. The U5 is one of the most important documents on Wall Street. Although per page 3 of the SEC’s EX-10.3 for MicroStrategy, the total could be as much as $58,000 after an additional $6,000 of other security expenses. letter to MicroStrategy’s board of directors, Synchronoss Technologies: You Probably Wouldn’t Buy a Car From These Guys, Synchronoss Technologies: The Friends and Family Plan, The Copper Archipelago: Truth, Lies and InterCloud Systems, Corcept Therapeutics: The Company That Perfectly Explains the Health Care Crisis, Fraser Perring: Chronicles of Deceit, Part I, The Infernal Machine: From Powder to Dust, What’s in a Name? Shares in GameStop, which was at the heart of the so-called "stonks" retail trading mania earlier this year, have risen by a third in the last one week, while shares in cinema operator AMC are up 39%. You are here: Home / Events / Michael ... Michael Saylor Honored as SeaKeeper of the Year. Activist investor Apex Capital Corp., owner of 467,100 shares as of Feb. 27, hankers for Saylor’s departure. In a letter to MicroStrategy’s board of directors filed on Jan. 28, Apex argued that Saylor’s removal was warranted by the “recent stream of photos of Mr. Saylor’s yachts in exotic locations (as seen on his Twitter feed) does little to assuage our fears that the Company’s senior management is not fully engaged in the day-to-day operations of the business or agonizing over inferior shareholder returns.”, A major concern brought up by Apex in its letter to the board is MicroStrategy’s lack of any conference calls with shareholders for almost 10 years. And then I started thinking, Well, everything’s scarce, and then I thought, Hampton’s real estate doesn’t go up 2%, Manhattan real estate doesn’t go up 2%. Saylor’s 18,000-square-foot mansion with 13 bedrooms and 12 bathrooms is the hot spot for many of his partygoers. Best friends and co-owners of Moksha, the men are the same age, with birthdays just weeks apart. How would you, Michael Saylor, define inflation today… Because you still have to do economic calculation as a business owner. 2 of 14. ), Over the course of one week, the Southern Investigative Reporting Foundation attempted to secure MicroStrategy’s comment for this article by leaving voicemail messages in the company’s press relations mailbox, but no calls were returned by press time. U.S. will share Covid vaccine doses abroad, Amazon mulling acquisition of MGM movie studio, Coinbase is issuing a convertible bond, and other news to start your day. Facebook. Completion of Roivant’s deal with Montes is expected in the third quarter, and more data about Immunovant’s drug may come out by then.“The market would be happy with a premium transaction,” Baird’s Brian Skorney said about Immunovant, whose shares trade about 11% higher than when it merged with Health Sciences. From what the Southern Investigative Reporting Foundation can surmise, MicroStrategy and Saylor are in a universe of one when it comes to security expenses, especially when the nature of the company’s work and the size of the enterprise are factored in. InterCloud Systems, a company familiar to Southern Investigative Reporting Foundation readers, put out a press release last week sharply disagreeing with the claim that it had hired a controversial public relations firm to promote its shares. Now Michael Saylor is back - and with juice from Facebook. You know, my MIT education went up more than 2%, healthcare goes up more than 2%, I’ve got a house on Miami beach on two acres, cost $100,000 in 1930, it would cost you $20 million today. Not all investors approve of Saylor’s lavish perks. Led by charismatic co-founder Vivek Ramaswamy since 2014, it houses several early-stage biopharmaceutical units, and has spun out several companies using traditional IPOs and SPACs.The company historically operated as an in-licensing drug developer, buying rights for other companies’ drugs to further develop them. Saylor’s 18,000-square-foot mansion with 13 bedrooms and 12 bathrooms is a hot spot for many of his party guests and will be featured in the upcoming “Entourage” movie. And Wood has been consistently adding cryptocurrency exchange Coinbase Global Inc., whose shares have been declining for much of the past month after rallying in its April IPO.Read more: Musk Splits From Cathie Wood’s Ark on Bitcoin Environmental CostSome of that retreat is likely down to Musk, who fueled a slump in the largest cryptocurrency after hitting out at the token’s high energy demands and reversing a decision to accept it as a form of payment.With Ark a big proponent of Bitcoin and a believer in its green credentials, it’s all adding to recent drama in the world of speculative tech. (For this commute he was reimbursed $29,000.). The firm’s exposure is around $10 million, though that amount is decreasing as more users return the coins, said Zac Prince, co-founder and chief executive officer of BlockFi.“BlockFi carries loss reserves as part of its accounting policies and this is a fraction of existing loss reserves -- so no negative impact to equity or ongoing platform operations,” Prince wrote by email. … Although, according to page 3 of the SEC’s EX-10.3 for MicroStrategy, the total could be as much as $58,000 after an additional $6,000 of other security expenses.From what the Southern Investigative Reporting Foundation can surmise, MicroStrategy and Saylor are in a universe of one when it comes to security expenses, especially when the nature of the company’s work and the size of the enterprise are factored in.According to Peter Rogers, the co-founder of FrontPoint Security Services, which was ranked as the best home security system by Top Security Systems in 2013, this level of expense is virtually unprecedented. Ramaswamy stepped down as chief executive in January to become executive chairman, with finance chief Matthew Gline taking his place.“I want Roivant to be seen as a next-gen pharma company,” Gline said in an interview. Data not found. Sales more than doubled in China and increased 10% in North America.All model ranges except Jaguar-brand autos were back to pre-Covid levels in the quarter, lifting JLR’s market share to 6%. “I think we’re in a capitulation phase. Government-imposed lockdowns have shuttered sales outlets and halted factories’ production lines.“While demand remains strong, the supply situation over the next few months is likely to be adversely impacted by disruptions from Covid-19 lockdowns in India and semiconductor shortages worldwide,” Tata said in a statement.Charge TakenThe group booked a 1.5 billion-pound ($2.1 billion) charge initially flagged in February related to JLR’s shift to electric models, though its net loss still narrowed.Tata Motors closed 3.5% higher before the company released earnings. 3 of 14. In 2013, these totaled $746,340. He was also subsequently reimbursed an additional $52,000 for security services and equipment in the fourth quarter of 2013. @michael_saylor Apr 23 MicroStrategy will report its financial results for the first quarter of 2021 after the markets close on Thursday, April 29, 2021 and host a live Video Webinar at 5pm that day to discuss those results. Michael Saylor, visionary CEO of Microstrategy, who sold Voice.com last year and converted $400M into Bitcoin, joins Media Options CEO Andrew Rosener to discuss domain names, domain valuation, the dematerialization of assets, and so much more! Your Beach House THE PROPERTY. Message to Other Media. Voluntary reports submitted to a Food and Drug Administration database, including entries from surgeons, paint a picture of a new Penumbra catheters whose safety problems the company may be forced to address in a substantive manner. Previous to Michael's current city of Debary, FL, Michael Saylor lived in Philadelphia PA and Croydon PA. The net income numbers that investors had fallen in love with in 1998 and 1999 were actually losses, and the eraser was put to $66 million of the $350 million revenue for the same period. Another perk that Saylor enjoys is reimbursement of state and federal income taxes on these benefits. agricultural imports; LNG & pipeline gas imports; oil products trade breakdown; alumina and rare-earth product exports; bauxite, steel & aluminum product importsLONGi Green, Goldwind execs among speakers at Macquarie Group conference in Hong KongEARNINGS: Daqo New EnergyToday’s ChartChina’s data dump for April suggests the economy’s expansion may have plateaued as policy makers seek to rein in commodities-intensive spending on real estate and infrastructure before new growth drivers of consumer spending and manufacturing investment have recovered.On the WireShaanxi province, China’s third-biggest coal producing region, hit a clean energy milestone last month when generation from renewables briefly topped thermal power for the first time.In a town on the edge of the Gobi desert is a sign in English and Chinese that reads “Oil Holy Land.” Nearby, a preserved drilling rig marks the spot of China’s first commercial oil well.JinkoSolar Announces Change to Senior ManagementChina Is Drafting Carbon Peaking Plans for Steel, Power SectorsAsian Copper Stocks Rise on Top Producer Chile’s Election ResultHuadian Power Downgraded to Sell by Citi on Rising Coal CostsBank of China, Citigroup, BNP Lead Green Bond Offshore MarketCGN Wind Energy Adds Zhejiang Province’s Largest Offshore FarmGCL-Poly Energy Says Deloitte Touche Tohmatsu Resigns as AuditorBrazil Iron Ore Miners Seen Lifting Output Coming Months: IbramChina’s Tapering of Monetary Stimulus Could Pop Oil Price BubbleThe Week AheadWednesday, May 19China’s monthly loan primes rates, 09:30China’s April output data for base metals and oil productsHOLIDAY: Hong KongThursday, May 20China’s 3rd batch of April trade data, including country breakdowns for energy and commoditiesSMM battery materials conference in Changsha, Hunan, day 1USDA weekly crop export sales, 08:30 ESTFriday, May 21Ganfeng Lithium, EVE Energy, Huayou Cobalt execs among speakers at Macquarie Group conference in Hong KongChina weekly iron ore port stockpilesShanghai exchange weekly commodities inventory, 15:30SMM battery materials conference in Changsha, Hunan, day 2AGMs: Cnooc, Tianqi Lithium, CATLMore stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Cathie Wood’s Ark Investment Management is buying the dip in Tesla Inc., sticking with high-conviction names and setting aside a big disagreement with Elon Musk over Bitcoin.Ark exchange-traded funds added more than 47,000 shares in the electric carmaker in the last trading session, according to data released late Tuesday.

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