Catch up on the latest investment news and updates in MarketCurrents Data
May 21, 2023
MarketCurrents Data offers up-to-date information on the activities of family offices, including their latest investments, relevant contact information, and other pertinent details. To learn more about the listed below Global Single-Family Offices, head to MarketCurrents Data, your source for Data and Private Wealth Intelligence.
RDV Corp., the DeVos family office, recently sold the historic Peninsular Club building at 116 and 120 Ottawa Ave. NW. The buyer, Simplified Facilities LLC, is registered to Matthew Borisch, the President of Tommy’s Boats. The sale was finalized on February 16, as recorded in property documents. In 2008, RDV acquired the building, which was previously the home of the Peninsular Club. The club had faced financial difficulties and left the premises that same year. Over the course of 2008 to 2013, the DeVos family carried out significant renovations on the building, restoring it to its original grandeur, according to Nick Wasmiller, spokesperson for the DeVos family.
The renowned investor is placing a bet on a potential decline in the stock price of Ford, the automotive company based in Dearborn, Michigan. Several months ago, billionaire George Soros invested in Ford, confident in the company’s strategy to catch up with Tesla in the electric vehicle race. Soros also increased his holdings of Ford’s debt last year, holding $29.5 million in debt during the second quarter of 2022 and continuing to acquire more debt in the subsequent three months. This investment demonstrates Soros’ endorsement of CEO Jim Farley’s approach, which positions Tesla as Ford’s primary competitor.
According to the quarterly 13F filing from Druckenmiller’s Duquesne Family Office, they have increased their ownership in Nvidia Corp., a leading chipmaker benefiting from the growing interest in artificial intelligence (AI). Nvidia’s stock has surged by 98% year-to-date, positioning it as one of the top performers in the S&P 500 Index. During the first quarter, Duquesne Family Office added over 208,000 shares of Nvidia, elevating the market value of their holdings in the company to approximately $220 million. Duquesne Family Office LLC, responsible for managing Stanley Druckenmiller’s wealth, was established in 2010 and focuses on investing in various industries, with a specific emphasis on technology.
MarketCurrents Data provides extensive information about Global Single Family Offices, making it an excellent source for learning more about the family office mentioned above.
