Facebook Spent $608,000 a Month to Protect CEO Mark Zuckerberg in 2017

Facebook Spent $608,000 a Month to Protect CEO Mark Zuckerberg in 2017

Facebook spent $608,000 a month to protect CEO Mark Zuckerberg in 2017.  The total annual security bill works out to more than $7.3 million in 2017.  He was paid a base salary of $1 with a total compensation of more than $8 million that included his $7.3 million security expenses and $1.5 million of private jet expenses, according to the latest filing to the United States Securities and Exchange Commission (SEC).

“ Facebook Spent $608,000 a Month to Protect CEO Mark Zuckerberg in 2017 “

Mark Zuckerberg is the founder of Facebook, which he started in 2004 in his Harvard University dormitory.  He grew Facebook into one of the world’s largest social networking platform with more than 2.2 billion monthly active users and going public (IPO) in 2012.  Today, he is one of the top 10 wealthiest man in the world with more than $60 billion.

Source: SEC, CNBC, Fortune

 

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Ping An Good Doctor Raised $1.12 Billion for IPO in Hong Kong

Ping An Good Doctor Raised $1.12 Billion for IPO in Hong Kong

Ping An Good Doctor, China’s largest online healthcare platform and a business unit of Ping An Insurance, has raised $1.1 billion (HK$ 8.77 billion) for an IPO in Hong Kong.  It is expected to be priced at the top end of the HK$50.8 – HK$54.8 price range and to begin trading on the   Hong Kong stock exchange on the 4th of May 2018.

” Ping An Good Doctor Raised $1.12 Billion for IPO in Hong Kong “

Ping An Healthcare and Technology, known as Ping An Good Doctor in China, operates the largest internet healthcare platform in China, providing on-demand healthcare through its mobile platform.  In 2017, it has 192.8 million registered users, 888 in-house medical personnel and 370,000 daily consultations.  The healthcare platform have also established a nationwide network of healthcare service providers with 3,100 hospitals, 1,100 health check-up centers, 500 dental clinics and 7,500 pharmacy outlets.

The IPO of Ping An Good Doctor is one of the hottest in recent years, with brokers extending an unprecedented $20.3 billion (HK$160 billion) to retail clients in margin loans. The IPO is the biggest by an internet-based business since ZhongAn Online P&C Insurance’s HK$11.9 billion IPO in Hong Kong in September 2017. The capital raised is expected to fund acquisitions, strategic alliances and for research and development.

The key investors are global asset managers, BlackRock and Capital Group, Singapore and Malaysia’s sovereign wealth fund GIC and Khazanah Nasional, Canada Pension Plan Investment Board and a subsidiary of Thailand’s billionaire Charoen’s CP Group.  Citigroup Inc and JP Morgan Chase are the joint sponsors.

Source: HKSE, Reuters, SCMP

 

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Google CEO Sundar Pichai Receives $380 Million Payout

Google CEO Sundar Pichai Receives $380 Million Payout

Google CEO Sundar Pichai has received $380 million payout, one of the biggest payout in recent years.  He had received 359,939 restricted shares in 2014, that is worth almost $380 million when the shares were vested on 25th April 2018.

” Google CEO Sundar Pichai Receives $380 Million Payout “

Sundar Pichai had joined Google in 2014, and became the CEO in August 2015, taking over from Google co-founder, Larry Page.  In October 2015, Google restructured to be under Alphabet, the parent company of Google.  In August 2015, Google (Alphabet in Oct 2015) share price was in the mid-$600, and on 25th April 2018, traded above $1,000, representing more than 60% increase.

Sundar Pichai had worked in engineering and product management at Applied Materials and in management consulting at McKinsey & Company. He did his Bachelor in Metallurgical Engineering from IIT Kharagpur, and went onto do his Masters at Stanford University in materials science and semiconductor physics and MBA from the Wharton School of the University of Pennsylvania

Source: Bloomberg, Dailymail

 

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The Vision Mercedes-Maybach Ultimate Luxury Electric Car Unveiled

The Vision Mercedes-Maybach Ultimate Luxury Electric Car Unveiled

The Vision Mercedes-Maybach Ultimate Luxury electric car was unveiled in a car show, Auto China 2018 in Beijing.  The luxury car is designed as a crossover of an high-end saloon and an SUV, the luxury car is intended primarily for chauffeur-driven use, with its design strongly focused on the rear passengers and their well-being.

“ The Vision Mercedes-Maybach Ultimate Luxury Electric Car Unveiled “

The Vision Mercedes-Maybach Ultimate Luxury features butler like services including playing music to match the current mood, planning driving routes against appointments in calendars, and customising tea flavours and relaxation, depending on who the rear passenger is.

The luxury car is conceived as an electric car, and a 5 minutes charge can achieve a range of 100 kilometres The top speed is electronically limited to 250 km/h.

Source: Daimler

 

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China Largest Truck Hailing Platform Manbang Raises $2.5 Billion from Softbank and Alphabet

China Largest Truck Hailing Platform Manbang Raises $2.5 Billion from Softbank and Alphabet

China’s largest truck hailing platform Manbang, has raised $2.5 billion from leading investors including Softbank and Alphabet, giving the company a valuation of around $6 Billion.  The $2.5 Billion investment is led by leading global technology companies, sovereign wealth funds, private equity and venture capital firms, including Softbank’s Vision Fund, Alphabet venture capital unit CapitalG, Saudi Arabia’s sovereign wealth fund, China Reform Fund, Ward Ferry, Farallon Capital, Tencent, Sequoia Capital China and GVC Capital.

” China Largest Truck Hailing Platform Manbang Raises $2.5 Billion from Softbank and Alphabet ”

Manbang, China’s largest truck hailing platform and also known as the “Uber for Trucks” in China, connects truck drivers with shippers.  The platform also provides an after-service platform which covers truck fuel, auto insurance, auto financing and other services.  Today, China’s largest truck hailing platform has over 5.2 million truck members and 1.25 million logistics company members.

Manbang was founded in 2017 with the merger of Yunmanman and Huochebang.  Yunmanman is backed by Sequoia Capital and Yunfeng Capital, a private equity firm co-founded by Jack Ma, founder of Alibaba. Wang Gang, the Chairman and CEO of Manbang, is an angel investor in Didi Chuxing, China’s largest ride-hailing technology company.

Source: Reuters, Yunmanman

 

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Singapore SWF Temasek to Buy 3.6% of Bayer for $3.6 Billion

Singapore SWF Temasek to Buy 3.6% of Bayer for $3.6 Billion

The Sovereign Wealth Fund of Singapore Temasek Holdings with $208 billion managed assets, has agreed to buy 3.6% of German life science company Bayer for $3.6 Billion (Euro 3 Billion).  The German company is currently preparing the final stages of their $66 billion acquisition of leading global seed producer Monsanto.  Temasek will subscribe to 31 million new shares (3.6%) of Bayer, giving it about 4% shareholding, including existing shares.

” Singapore SWF Temasek to Buy 3.6% of Bayer for $3.6 Billion “

Bayer is a global life science enterprise in the field of health care and agriculture, employing almost 100,00 people worldwide and generating Euro 35 billion in sales in 2017.  In recent years, there has been major consolidations in the industry with the $130 billion merger of Dow Chemical Co. and DuPont Co, and China National Chemical Corporation (ChemChina) $43 billion acquisition of Syngenta AG.

Source: Bayer, Bloomberg, Reuters

 

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About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2017, the Group employed around 99,800 people and had sales of 35.0 billion euros. Capital expenditures amounted to 2.4 billion euros, R&D expenses to 4.5 billion euros.

Visit: Bayer.com

 

 


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Ant Financial to Raise at Least $10 Billion at $150 Billion Valuation

Ant Financial to Raise at Least $10 Billion at $150 Billion Valuation

Ant financial, one of China’s leading financial services technology company and an affiliate company of Alibaba Group, is raising at least $10 billion in capital, valuing the company at more than $150 billion.  Temasek Holdings, Singapore’s Sovereign Wealth Fund, is believed to be a lead investor among other leading institutional investors.

“ Alibaba Group Ant Financial to Raise at Least $10 Billion at $150 Billion Valuation “

Ant financial was officially founded in 2014, and was originally founded by Alibaba Group in 2004 as Alipay.  In 2007, Alipay had over 50 million users, while China only had 30 million credit card users.  In 2016, Ant Financial completed its Series B fundraising, raising $4.5 billion in funding.  Ant financial has 3 key businesses in payments, wealth management and lending.  In recent times, the company have invested into Paytm (India) and Ascend Money (Thailand).

Sources: Bloomberg, SCMP

 

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About Ant Financial

Ant Financial Services Group is focused on serving small and micro enterprises as well as consumers. With the vision “bring small and beautiful changes to the world,” Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Yu’e Bao, Zhao Cai Bao, Ant Fortune, Ant Check Later, Ant Financial Cloud, Sesame Credit and MYbank.

Visit: Ant Financial

 


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Music Streaming Spotify Surged 13% at IPO on NYSE with $26 Billion Market Value

Music Streaming Spotify Surged 13% at IPO on NYSE with $26 Billion Market Value

Music streaming Spotify had surged 13% at IPO on the New York Stock Exchange (NYSE), at a reference IPO price of $132.  The stock closed at $149.01 on the 1st trading day, closing at  $147.92 at the end of the week, valuing the company at more than $26 billion.

“ Music Streaming Spotify Surged 13% at IPO on NYSE with $26 Billion Market Value “

Spotify opted for a direct listing on NYSE, bypassing investment banks or brokers to underwrite the offering, saving hundreds of millions of dollars in underwriting fees.  The reference price was set at $132, giving an early estimate of the level at which the the supply and demand could be balanced.  The opening public price was determined by the buy and sell orders collected by the NYSE from broker-dealers.

Spotify, founded by Daniel Ek and Martin Lorentzon, was launched in 2008 and is available in more than 60 countries.  It is the biggest music streaming company in the world with 71 million premium subscribers ($9.99 monthly) globally while Apple music streaming service has 36 million subscribers.

After the IPO, both founders Daniel Ek and Martin Lorentzon became billionaires with net worth of more than $2 billion & $1 billion respectively.

Sources: Reuters, CNBC, Bloomberg

 

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Lamborghini Shipped 3,815 supercars in 2017

Lamborghini Shipped 3,815 supercars in 2017

Lamborghini had shipped 3,815 supercars in 2017, selling 358 (+10.3%) more units than in 2016 (3,457).   America sold 1,338 units (35.1%), Asia sold 1,000 units (26.2%) while 1,477 units (38.7%) was sold in Europe, Middle East & Africa.   Since 2010, the number of units sold by Lamborghini had grown by 293%, from only 1,302 units to a record 3,815 in 2017.

” Lamborghini Shipped Record 3,815 Supercars “

The Italian supercar maker from Sant’Agata Bolognese reported revenue of Euro 1.009 billion in 2017, a 11.3% increased from Euro 906 million in 2016.  V12 Lamborghini Aventador sales grew by 6% from 1,104 to 1,173 units while V10 model Lamborghini Huracán sales grew by 12% from 2,353 to 2,642 units.

Source: Official Press Release

 

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About Lamborghini

The history of ‘Lamborghini Automobili’ officially starts in 1963. Nevertheless, we must consider the far-off roots of this event, and they are the roots of Ferruccio Lamborghini. Born in 1916, this capable, impetuous, strong-willed Taurus was the leading character in the foundation of the company and the early phases of its extraordinary history.

Visit: Lamborghini

 

 


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Former Chairman of Anbang Insurance Begins Trial in Shanghai

Former Chairman of Anbang Insurance Begins Trial in Shanghai

Former Chairman of Anbang Insurance, Wu Xiaohui is facing his trial in Shanghai for suspected fundraising fraud and embezzlement.  In the trial, the prosecutor said the defendant, Wu Xiaohui had fraudulently raised money and “treated the firm’s capital as his own capital.”

” Former Chairman of Anbang Insurance, Wu Xiaohui Facing Trial in Shanghai “

In 2011, faked financial statements were submitted to China’s insurance regulator for approvals to sell insurance products to the public for investment, and selling more than the approved limit.  By 2017, Anbang had oversold CNY 724 billion ($115 billion) of insurance products.  He is alleged to illegally used CNY 65 billion ($10.3 million), with some of the funds being were routed to other firms for investments, debt repayment and personal spending.

In the trial, the former Chairman of Anbang Insurance, Wu Xiaohui raised objections and also believed he did not violate any regulations.  His sister testified against him, claiming he controlled more than 200 companies (with some in the names of relatives), and 38 were used to control Anbang Group.  According to China’s criminal code, the sentences are punishable by up to life sentence.

In February 2018, the Chinese government had seized control of Anbang Insurance Group.  Anbang Insurance Group is being managed by a group of officials from the China Insurance Regulatory Commission (CIRC) for one year.  The regulatory intervention is one of China’s recent moves to stop Chinese conglomerates on aggressive overseas acquisition and to reduce financial risk.  The insurance conglomerate have significant stakes in banks and property developers including China Minsheng Banking Corp Ltd, China Merchants Bank Co Ltd, developers China Vanke Co Ltd and Gemdale Corp.

Anbang Insurance Group is a global insurance company with total assets of nearly CNY 1,9 trillion ($304 billion).  The group employs over 30,000 employees and has a customer base of 35 million worldwide.  Anbang Insurance Group was established in 2004,

In 2004, Anbang Property & Casualty Insurance was established and opened its first branch in Beijing.  In 2011, CIRC approved the restructuring of Anbang Property & Casualty Insurance for the establishment of Anbang Insurance Group.  Chairman Wu Xiaohui had transformed the group over the 10 years into one of the world’s largest insurance company.  He is married to Zhuo Ran, the granddaughter of Deng Xiaoping, China’s leader between 1978 to 1989.

Sources: SCMP, Reuters

 

 

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About Anbang Insurance Group

Anbang Insurance Group is a global insurance company with total assets of nearly 1971 billion RMB. With over 30,000 employees and a customer base of 35 million worldwide, Anbang stands out as one of the most profitable insurance companies in China. Its business covers life insurance, P&C insurance, health insurance, pension insurance, banking, asset management, etc. With a “customer-centric” strategy in mind, Anbang Insurance is dedicated to creating value for its worldwide customers.

Visit: Anbang Insurance Group

 

 


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