Finance

• Apollo Leaning Toward Austin as City for Second US Headquarters
  Apollo Global Management Inc. is leaning toward Austin as the site of its second US headquarters, according to people with knowledge of the matter.
• Paramus Park Mall in NJ Heads to Receiver After Value Tumbles 70%
  New Jersey’s Paramus Park mall, part of a shopping center portfolio that Brookfield Corp. bought for $15 billion in 2018, is being returned to mortgage investors after the property value was slashed more than 70%.
• Robinhood Clients Face Issues in Early Moments of SpaceX Trading
  Robinhood Markets Inc. customers faced issues during the highly anticipated first minutes of SpaceX trading on Friday.
• Citadel Backs Hedge Fund Toms Capital With $500 Million in Rare Move
  Ken Griffin’s Citadel has backed Benjamin Pass’s hedge fund Toms Capital Investment Management in a rare move to allocate cash to an external money manager.
• Elon Musk Becomes World’s First Trillionaire After SpaceX IPO
  In a post on the social media platform he owns, Elon Musk recently lamented, “Whoever said ‘money can’t buy happiness’ really knew what they were talking about.”
• Sanctioned Billionaire-Linked Firm, Brookfield Eye Gulf IVF Deal
  LetterOne Holdings, the investment firm co-founded by sanctioned Russian billionaire Mikhail Fridman, is among bidders shortlisted to acquire a stake in fertility business Fakih IVF, in a deal that could rank among the largest healthcare transactions in the Middle East.
• NYC Pensions Seeks Bids for Index Funds Run by BlackRock, State Street
  New York City’s pension system said it’s seeking bids for roughly $92 billion of stock index-tracking funds now overseen by BlackRock Inc. and State Street Investment Management.
• Five Ways to Measure Musk’s $1 Trillion Fortune
• What the World Cup Can Tell Us About Finance
  There’s a memorial to Paul the octopus at the Sea Life Centre in Oberhausen after the cephalopod seer earned worldwide fame by correctly predicting the outcome of all Germany’s seven games at the 2010 World Cup. If the Netherlands win the 2026 tournament that kicked off Thursday in Mexico, there may be calls for a statue of Panmure Liberum’s Joachim Klement, the finance world’s reluctant oracle of World Cup forecasting.
• The Hedge Fund Manager Behind US Soccer’s Bid for World Cup Glory
  Scott Goodwin’s path to becoming a major donor to US Soccer began with an offhand text to friends in the summer of 2024. Now was the chance, he told them, to get a better men’s national team head coach before the 2026 World Cup.
• Musk Trillionaire Status Stokes Democrats’ Tax-the-Rich Push
  Democratic lawmakers seized on Elon Musk’s new status as the world’s first trillionaire to renew calls for a wealth tax on the richest Americans as affordability concerns dominate national politics.
• Nubank Probes How False Liquidation Notice Went Out to Clients
  Nu Holdings Ltd. is investigating how some of its Brazilian clients received false messages saying it had been liquidated by the central bank, which both the company and regulators denied.
• Goldman’s Waldron Says SpaceX Shows Investor Zeal for Funding AI
  SpaceX’s record-setting initial public offering shows investors are eager to finance artificial intelligence infrastructure, according to Goldman Sachs Group Inc. President John Waldron.
• New York Is Riding High on Musk Money and a Knicks Comeback
• SpaceX Rented Out Computing After Own Teams Had Trouble Using It
  SpaceX decided to rent out the full capacity of its Colossus 1 data center in Memphis to Anthropic PBC after encountering technical challenges using the facility to develop and run its Grok artificial intelligence models, according to people familiar with the matter.
• Trump Turns to Wall Street Power Lawyer Clayton to Calm Pulte Uproar
  In Donald Trump’s chaotic second term, Jay Clayton is emerging as one of the few people the president turns to when he’s in a pickle.
• France’s Mistral in Funding Talks at About €20 Billion Valuation
  French startup Mistral AI is in talks to raise around €3 billion ($3.5 billion) at a valuation of roughly €20 billion, according to people familiar with the discussions, providing Europe’s artificial intelligence champion with a cash injection as it competes in a costly computing race against competitors in the US and China.
• BlackRock’s HLEND Caps Redemptions After Investors Seek 13%
  BlackRock Inc. capped redemptions from its flagship private credit fund for the second straight quarter after investors sought to pull about 13%, a sign that shareholders remain nervous about the health of the $1.8 trillion market.
• Buy Toll, Sell Lennar as Rich Homebuyers Outpace First-Timers
  An economy that’s been good for the rich makes shares of high-end homebuilders a better bet than those focused on entry-level buyers, according to one Wall Street analyst.
• From London to Sydney, Traders Ready to Watch SpaceX’s Debut
  Investors and retail traders from across the US and around the world were glued to their screens on Friday as Elon Musk’s SpaceX started trading in the stock market after the biggest initial public offering in Wall Street history.
• India Developer Prestige Plans $6.3 Billion of Launches
  Prestige Estates Projects Ltd., which counts BlackRock Inc. and Vanguard Group Inc. among its investors, is targeting about 600 billion rupees ($6.3 billion) in estimated sales value for this financial year as the developer prepares to launch projects across the country, its billionaire founder said.
• Roku Said in Sale Talks, Including for Possible Media Tie-Up
  Roku Inc., the streaming video platform, is in talks to sell itself, people with knowledge of the matter said.
• Coal Clash Pits Billionaire Against Canadian Country Music Star
  Australia’s richest woman wants to mine coal in the Rocky Mountains and one of Canada’s most famous country music singers has built a coalition of ranchers, fishermen and environmentalists to stop the project.
• Gen Z’s Latest Career Flex: A Boardroom Seat
• Portugal Golden Visa Suffers as Citizenship Wait Period Doubles
  Investor interest in Portugal’s golden visa, Europe’s hottest residency-by-investment program, is cooling after the government doubled the time that foreigners must wait to qualify for Portuguese citizenship.
• SpaceX Staff Gather for Bell Ringing Parties in Texas, NYC
  Even SpaceX’s opening bell ceremonies at the Nasdaq stock market were a first-of-their-kind affair.