Goldman Sachs reaped a windfall from SpaceX's initial public offering (IPO), and has arranged a $450 million charitable donation in advance.
56 minutes ago
Goldman Sachs has earmarked a portion of the proceeds it received from wealthy clients’ record-breaking SpaceX initial public offering (IPO) for an early $450 million charitable donation. When the bank released its third-quarter results on Tuesday, it separately disclosed this special expense in its expenditure items, noting the charge reduced diluted earnings per share by roughly $1. Over five years ago, Goldman Sachs helped wealthy clients invest in Elon Musk’s SpaceX. Earlier this year, the aerospace firm went public at a $1.77 trillion valuation, generating massive gains for Goldman clients who sold their shares, with the bank taking a cut of hundreds of millions of dollars from the windfall. Goldman Sachs CEO David Solomon hinted at this arrangement in September, saying the bank could use the unexpected proceeds to make an early large-scale charitable donation, as it is more tax-efficient to do so.
Renowned trader Killa: Bitcoin needs to hold the $80,000 level and form a higher low; otherwise, the correction could deepen.
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predict.fun has officially launched its League of Legends World Championship prediction event, with a prize pool of $250,000.
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