Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.World Economyread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
Asia Pacific markets were mostly in negative territory on Friday morning as investors remained worried over trade tensions between the United States and China.Asia Marketsread more
Zilingo founder Ankiti Bose says working as an investment analyst helped her build her near-$1 billion fashion start-up.Ditching the Corporate Liferead more
Stocks fell sharply on Thursday as investors started to fear the U.S.-China trade war is slowing the economy.Marketsread more
"The last thing I want is to put a date out there for lifting the grounding," said Dan Elwell, acting administrator for the FAA.Transportationread more
The charges allege he published secret documents obtained by former Army intelligence analyst Chelsea Manning, some of which included the disclosure of foreigners who were...Politicsread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
See which stocks are posting big moves after the bell on Thursday, May 23.Market Insiderread more
Hedge fund billionaire Ken Griffin has just smashed another real estate price record, buying the most expensive home sold in London in over a decade for $122 million.
Griffin, CEO and founder of Citadel, bought a famed mansion near Buckingham Palace that was once home to Charles de Gaulle, according to a company spokesperson. The property at 3 Carlton Gardens stretches more than 16,000 square feet and has an indoor swimming pool and large staff quarters. It is the most expensive home sold in London since 2008, and comes as London property prices have tumbled due to Brexit fears.
The deal is the latest in Griffin's unprecedented global shopping spree for real estate. During recent years, he has spent over $750 million on homes in Chicago, New York, Miami, Palm Beach, Florida, and now London. Griffin made about $1.4 billion in compensation in 2017, according to Institutional Investor.
He has now set six real estate price records. Last year, he paid the highest price ever for a home in Chicago, buying the top four floors of a Gold Coast condo tower for $58.5 million.
He purchased several floors of the new 220 Central Park South tower in New York for over $240 million, making it the most expensive home ever sold in New York and likely the most expensive residence ever sold in the U.S. He purchased the most expensive property ever sold in Miami — the two penthouses of Faena House — for $60 million. And he has spent over $200 million for land in Palm Beach (a record for Florida) to build a home that is expected to cost at least tens of millions of dollars more to build.
A spokeswoman for Citadel said that the London property is a "historic property purchase with a spectacular location." Citadel maintains offices in London for its investment management business as well as trading operations and other businesses, according to press reports. Griffin's new London home was used by Charles de Galle during World War II and later by MI6, according to the Financial Times. It was purchased by investors in 2014 for 65.5 million pounds ($84.7 million) and renovated to add the pool and other updates.
Griffin was represented in the deal by the Alexander Team at Douglas Elliman and by Knight Frank.