From The Daily News
Here’s a list of Palm Beachers — full-time and seasonal — on the 2016 Forbes 400:
* Industrialist David Koch, 76, with $42 billion (up from $41 billion in 2015), tied for seventh place
* Investor Carl Icahn, 80, with $15.7 billion (down from $20.5 billion), in 26th place
* Discount broker Thomas Peterffy, 71, with $12.6 billion (down from $13.5 billion), in 32nd place
> Forbes 400: David Koch leads Palm Beach names; Trump ranks 156th
* Financier Stephen Schwarzman, 69, with $10.3 billion (down from $11.6 billion), in 45th place
* Cosmetics mogul Leonard Lauder, 79, with $9 billion (up from […] Read more
BY Michelle Egan Founders Daily
Seacoast Banking Corporation of Florida (SBCF) : Otter Creek Advisors scooped up 142,122 additional shares in Seacoast Banking Corporation of Florida during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 642,139 shares of Seacoast Banking Corporation of Florida which is valued at $10,312,752.Seacoast Banking Corporation of Florida makes up approximately 4.05% of Otter Creek Advisors’s portfolio.
Other Hedge Funds, Including , Millennium Management reduced its stake in SBCF by selling 106,456 shares or 71.87% […] Read more
from Palm Beach Post
Land in Palm Beach may indeed be the ultimate luxury, if the oceanfront house approved by the town last week for billionaire owner Ken Griffin is any indication.
On Billionaires Row, the low-profile, one-story residence will stretch 105 feet longer than a football field. But it and several outbuildings will occupy less than 8 percent of the 11½-acre site on Blossom Way, a cul-de-sac about a quarter mile south of Republican presidential candidate Donald Trump’s Mar-a-Lago Club.
> PHOTOS: Ken Griffin’s seaside house plan
In contrast, town codes would have allowed as much as 25 percent “lot coverage” of […] Read more
By Nathan Reiff–investopedia
Palm Beach, Florida is likely to evoke images of beautiful ocean views and warm, sandy beaches. But the south Florida town of about 10,000 year-round citizens also contains a startlingly large percentage of the nation’s billionaires. According to a Forbes list of the wealthiest individuals in the United States released earlier in 2016, Palm Beach is home to more than 25 billionaires. Considering that there were only 540 billionaires in total in the United States at the time the Forbes list was released, the small town of Palm Beach seems to have an unusually strong pull on the […] Read more
From Politico By Shane Goldmacher
Donald Trump added nine new people, including eight women, to his economic council on Thursday — and more than half the additions have either already given Trump money or have pledged to help raise campaign cash for him and the Republican Party.
One new addition, hedge fund manager Anthony Scaramucci, contributed $100,000 to Trump’s joint fundraising committee with the GOP, known as Trump Victory. Another, Carla Sands, hosted a multimillion-dollar fundraiser for Trump last month at her Southern California home.
Read more: http://www.politico.com/story/2016/08/trump-economic-adviser-list-donors-226921#ixzz4H92U2WV5
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[…] Read more
By Rob Copeland, WJS
For his son’s bar mitzvah in 2008, hedge-fund manager Murray Huberfeld chartered a JetBlue plane and invited hundreds to an oceanfront party in Palm Beach, Fla. An Orthodox pop star known as the “Jewish Elvis” entertained the guests, who Mr. Huberfeld says included investors in his fund.
Intimate ties and fundraising inside a close-knit world of observant Jewish businesspeople in New York, Florida and Israel are central to the $1.25 billion hedge-fund firm Mr. Huberfeld has helped lead, Platinum Partners. Now those ties are being tested as two sets of federal prosecutors as well as securities regulators delve […] Read more
From Bloomberg By Hema Parmar
SkyBridge Capital, the fund-of-hedge-funds firm run by Anthony Scaramucci, has opened a London office as it seeks to add business in Europe.
The office, which will serve as the firm’s European headquarters, is run by Hesham Alquraini, who formerly worked at the Kuwait Investment Office, Scaramucci said Thursday in an interview. As managing director, Alquraini will lead a three-person team.
“We want to evaluate European managers — most of them are London-based,” Scaramucci said. “We also want to expand. There’s mass-affluent opportunity for hedge funds and for mutual funds on the European continent and in the U.K.”
SkyBridge, which […] Read more
From Chicago Business by By LISA BERTAGNOLI
Dollars for dinos: The Kenneth C. Griffin Charitable Fund has donated $5.5 million to Field Museum to create a new display on Antarctic dinosaurs. Field Museum announced the gift today.
The new Antarctic Dinosaurs exhibit will open at the museum in summer 2018 and run through January 2019. After that, it will travel to a handful of museums throughout North America. The Field Museum did not yet have an itinerary for the traveling show.
Griffin’s gift will underwrite the exhibit and its educational components, though not travel expenses.
Pete Makovicky, a Field Museum paleontologist, will curate the exhibit, […] Read more
From South Florida Business Journal:
By: Brian Bandell
A company controlled by hedge fund billionaire Kenneth Griffin took out two mortgages for a combined $114 million on land in Palm Beach that he intends to build a mansion on.
JPMorgan Chase Bank awarded the mortgages of $101.25 million and $12.75 million to Blossom Way Holdings, led by Griffin as the founder and CEO of Chicago-based Citadel. Forbes pegged his net worth at $7.5 billion.
Palm Beach recently approved his plans for a massive home there, but construction hasn’t started.
The larger loan covers 7.84 acres at 20-50 Blossom Way with beachfront […] Read more