One minute before midnight on December 29, 2017, one of Mark Zuckerberg’s personal staffers got a phone call.
So starts an explosive story from Rob Price and Becky Peterson, which shines a light on the sprawling family office of Mark Zuckerberg and his wife, Priscilla Chan. According to their reporting:
- Over the past three years, multiple personal aides to Mark Zuckerberg and Priscilla Chan have been accused of serious misconduct by their colleagues.
- One former staffer accused the manager of Zuckerberg’s Hawaii properties of assaulting her after a night of drinking, which led to a hospital visit and police investigation.
- A Business Insider investigation into the Facebook CEO’s secretive family office has uncovered a workplace in crisis over the family’s handling of allegations of sexual harassment, racism, and transphobia.
- A representative for Zuckerberg described Business Insider’s reporting as “a collection of unfounded rumors, exaggerations, and half-truths which unfairly malign several of our valued employees.”
You can read their story here: A drunken late-night assault allegation has roiled the secretive world of Mark Zuckerberg’s private family office. Personal aides are speaking out about claims that household staff endured sexual harassment and racism from their colleagues.
Markets were a sea of red this week as the S&P 500 posted its worst week since the financial crisis. Amid all of the coronavirus carnage, Akin Oyedele published a list of the most important charts in the world.
Akin asked asked 20 financial experts — including Nobel-winning economists and acclaimed investment chiefs — to share charts that capture the biggest trends in markets.
You can read his story here: Robert Shiller, Rick Rieder, and 18 more of the brightest minds on Wall Street reveal the most important charts in the world.
Akin also had several stories offering guidance on how to best navigate the coronavirus-driven sell-off.
- Goldman Sachs reveals the 10 best stocks to buy now for a market comeback from the coronavirus-driven plunge
- A Wall Street firm lists its 5 best hedges for an unusual coronavirus-driven market crash — and shares what to do if it’s successfully contained
- BLACKROCK: Coronavirus fears have upended the most enduring drivers of stock returns. Here are 3 ways to stay afloat and beat the market.
- A hedge fund CEO who specializes in volatility told us why the coronavirus-driven plunge is a game changer — and shares 4 tips for avoiding big losses
And Bradley Saacks discovered a number of hedge funds made bets that are benefiting from the sell-off. He reported that Ken Griffin’s Citadel, Larry Fink’s BlackRock, and Daniel Sundheim’s D1 Capital are gaining from short positions on stocks hit hard by the coronavirus.
Intuit announced a $7 billion deal to buy Credit Karma this week, the latest in a wave of fintech dealmaking.
- Paayal Zaveri talked to Intuit CEO Sasan Goodarzi and Credit Karma CEO Kenneth Lin about the rationale for the deal. Goodarzi said the deal would help it put “a financial assistant in the pockets of consumers.”
- Melia Russell talked to two early investors in Credit Karma about why they took a risky bet during the worst financial crisis of the century and how it’s paid off.
- Dan DeFrancesco talked to fintech dealmakers to identify seven buzzy companies Wall Street could target next.
- And Rebecca Ungarino talked to industry insiders to pinpoint five companies they think JPMorgan could try and buy after Jamie Dimon said the bank would be “much more aggressive” on M&A.
- Elsewhere in finance, Franklin Resources and Legg Mason’s $4.5 billion merger is the latest in a wave of asset manager M&A. Bradley and Rebecca highlighted four more potential takeover targets.
That’s all for this week. Enjoy your Sunday!
Finance and Investing
Private-equity giants are ramping up MBA recruiting and looking beyond ‘2-2-2’ promotions — here’s which schools are seeing the most hiring
The biggest PE shops are doing more hiring from elite MBA programs, and they’re filling spots for a wider variety of roles than in the past.
DailyPay, the payday advance startup used by Berkshire Hathaway and Six Flags, is launching a savings product to help customers break the paycheck-to-paycheck cycle
A significant number of Americans are living paycheck to paycheck, causing financial stress and limiting their ability to save.
Tech, Media, Telecoms
The CTO of a 120-year-old company explains how yanking out most of its Oracle technology after a surprise $1 million bill is helping it move faster with Amazon’s cloud
Cloud computing promises to save companies a lot of money compared to running IT operations the old-fashioned way of buying software and hardware and running data centers.
A leaked video shows the head of Microsoft’s competitor to Amazon’s Twitch telling employees to stay positive, not ‘complain and nag’
The new head of Mixer, Microsoft’s answer to Amazon’s wildly popular Twitch, told employees to stop acting so negative about the state of the service, in a video excerpt of a town-hall team meeting reviewed by Business Insider.
2 top executives have just left millennial media company TheSkimm as it looks for its next phase of growth
TheSkimm, a media company aimed at millennial women, has lost two executives who were key to its next phase of growth.
Healthcare, Retail, Transportation
How the buzzy biotech upstart Moderna sped past Big Pharma to develop the first potential coronavirus vaccine in just 42 days
Scrambling to respond to the growing coronavirus outbreak, some of the world’s largest drugmakers have begun researching vaccines to prevent the deadly virus.
Hershey is going all-in on Amazon. The snack king’s director of digital explains its playbook.
The Hershey Company is in the midst of a digital transformation.
Bill Gates can buy any car he wants — but maybe Elon Musk should care it’s a Porsche and not a Tesla
Tesla CEO Elon Musk started a minor fight with Microsoft co-founder and retired CEO Bill Gates recently when Gates said he’d bought a new Porsche Taycan, not a Tesla.
Leadership and Entrepreneurship
POWER PLAYERS: The 10 most influential diversity leaders fighting inequality in corporate America right now
It’s long seemed as though white-collar offices in finance and tech largely ignored people of color and women when recruiting for important roles, creating a so-called boys’ club for straight white men.
What to do in your 20s, 30s, 40s, and 50s to retire with $1 million, according to financial planners
Becoming a millionaire doesn’t have to involve a big paycheck.
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