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Top business news: Jeffrey Epstein, Gen Z day traders, energy CEO facing arrest
Hello everyone! Welcome to this weekly roundup of Business Insider stories from executive editor Matt Turner. Please subscribe to Business Insider here to get this newsletter in your inbox every Sunday.
Index Ventures; Fast; Samantha Lee/Business Insider
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One-click checkout startup Fast raised $20 million from investors including Index Ventures and fintech Stripe in May. On Tuesday Fast’s cofounder and CEO Domm Holland, and Jan Hammer, general partner at Index Ventures, will chat with Shannen Balogh about how to build a pitch deck, and what it takes to win over investors. Sign up for the digital event here:
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Read on for more on Jeffrey Epstein’s little black book, Gen Z day traders, an energy CEO who may face charges for pulling a gun, and the top stories you might have missed.
Jeffrey Epstein’s little black book
Samir Hussein/WireImage/Getty Images; Mikhail Svetlov/Getty Images; Thierry Chesnot/Getty Images; Doug Mills-Pool/Getty Images; Robin Marchant/WireImage; Bennett Raglin/WireImage; Chip Somodevilla/Getty Images; David M. Benett/Dave Benett/Getty Images; Alexander Koerner/Getty Images; Samantha Lee/Business Insider
There are more than 1,500 people listed in Jeffrey Epstein’s infamous little black book, Angela Wang reported this week. Now you can search them all. From her story:
Among them are royalty and nobility, celebrities and academics, art collectors and hedge funders, politicians and heads of state: a motley compendium of global high society.
Business Insider has transcribed and tabulated the black book in its entirety, making the entries in the late sex offender’s notorious Rolodex fully searchable for the first time.
You can search Business Insider’s database right here:
There are 1,510 people in Jeffrey Epstein’s little black book. Now you can search them all for the first time.
Angela also compiled a dataset of every known flight made by Jeffrey Epstein’s private jets. Per her story, the sex offender owned a Gulfstream IV, a Gulfstream GV-SP, and a Boeing 727 nicknamed the “Lolita Express.”
We compiled every known flight made by Jeffrey Epstein’s fleet of private planes. Search them all for the first time.
Gen Z day traders
Robinhood
Joe Mecane, the head of execution services at Citadel Securities, said this week that retail investors have accounted for as much as 25% of the stock market’s activity in recent months, Ben Winck reported.
Robinhood added more than 3 million new accounts in the first quarter alone, meanwhile, and as Ben reported, posts on investing forums have topped Reddit’s “popular” page. From Ben’s story:
As the stock market attempted to claw back from multiyear lows spurred by the coronavirus outbreak, retail investors flooded the market with speculative bets and improbable picks.
They bought struggling airline and cruise stocks in droves. They rushed into shares of tiny biotechs offering faint hopes of a COVID-19 vaccine. They even piled into shares of Hertz, a bankrupt company whose stock is viewed as worthless in the long run.
He talked to two Gen Z day traders to find out what makes them tick. You can read his story here:
Wall Street is being shaken to its core by a legion of Gen Z day traders. From a casual hobbyist to a 20-year-old running a 14,000-person platform, meet the new generation of retail investors.
Elsewhere in investing news:
Energy CEO may face charges
Alyssa Eres
From Dakin Campbell:
A senior executive at a Colorado company backed by Apollo Global Management may face charges over pulling a gun on a Mexican American couple that took a wrong turn onto his property.
Paul Favret, the CEO of Resource Energy, may be charged with two counts of menacing and two counts of false imprisonment, according to an arrest warrant issued for Favret that was seen by Business Insider.
“After being made aware of this last week, Resource Energy Partners placed Mr. Favret on administrative leave and retained outside counsel to conduct a thorough review of the incident,” a company spokesman said.
You can read the story in full here:
The CEO of an Apollo-backed energy company may face charges for pulling a gun on a Mexican American couple that took a wrong turn near his Colorado home
Below are headlines on some of the stories you might have missed from the past week.
— Matt
Billions of dollars are gushing through Election 2020. Here are 9 things you need to know, including who’s winning in the Trump vs Biden main event.
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A growing group of lenders are looking to unload hundreds of millions of dollars of souring hotel loans. Teams hired to sell the portfolios say it’s just the beginning of a surge in activity.
These 11 people should grow from rich to richer if Palantir has a successful IPO
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16 top tech leaders who came to the US from around the world explain their forceful opposition to Trump’s freeze on immigrant work visas: ‘It’s only going to make America less competitive’
I tried the McKinsey problem-solving game every candidate has to beat to land a 6-figure job at the firm. Here’s what you need to know to prepare for the test and impress recruiters.
