Billionaires Pour $96,300,000 Into Several Stocks in High-Stakes Bet on Themselves: Report
A group of billionaires are brushing past market fears and investing heavily in their companies in an attempt to leverage the volatility.
The Persson and Lundin families, along with Carlos Slim, just collectively invested $96.3 million in their respective companies, reports Bloomberg.
The Persson family invested approximately $78 million to boost their stake in H&M, where their firm is a major shareholder.
The Lundin dynasty spent about $16 million on April 3rd to increase their stake in Lundin Mining.
Meanwhile, Slim purchased $2.3 million in PBF Energy shares on the same day, as energy prices slumped.
The buying spree followed a market tumble triggered by Trump’s April 2nd tariff announcements, with PBF Energy dropping over 26% by April 8th.
The crash reportedly hit billionaires with a historic $536 billion loss of wealth in the two days following the tariff announcements – the largest two-day decline recorded by the Bloomberg Billionaires Index.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Billionaires Pour $96,300,000 Into Several Stocks in High-Stakes Bet on Themselves: Report
A group of billionaires are brushing past market fears and investing heavily in their companies in an attempt to leverage the volatility.
The Persson and Lundin families, along with Carlos Slim, just collectively invested $96.3 million in their respective companies, reports Bloomberg.
The Persson family invested approximately $78 million to boost their stake in H&M, where their firm is a major shareholder.
The Lundin dynasty spent about $16 million on April 3rd to increase their stake in Lundin Mining.
Meanwhile, Slim purchased $2.3 million in PBF Energy shares on the same day, as energy prices slumped.
The buying spree followed a market tumble triggered by Trump’s April 2nd tariff announcements, with PBF Energy dropping over 26% by April 8th.
The crash reportedly hit billionaires with a historic $536 billion loss of wealth in the two days following the tariff announcements – the largest two-day decline recorded by the Bloomberg Billionaires Index.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Billionaires Pour $96,300,000 Into Several Stocks in High-Stakes Bet on Themselves: Report appeared first on The Daily Hodl.
Read More