Mar 10, 2017

Snap stock slides in first full week of trading

Greg Ruben / Axios

Snap had a rough first week in the public markets, with its shares closing down in four out of five days. The lowest close came today, at $22.07 per share.

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Data: Money.net; Chart: Andrew Witherspoon / Axios

Here are the closing company valuations, fully-diluted:

  • IPO: $23.63 billion
  • First market open: $33.36 billion
  • Peak: $40.64 billion
  • Market close today: $30.67 billion

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The world's 500 richest people saw their collective net worth grow by 25% in 2019

Priscilla Chan and Mark Zuckerberg. Photo: Ian Tuttle/Getty Images for Breakthrough Prize

The world's 500 richest people added $1.2 trillion to their collective net worth in 2019, boosting their holdings by 25% to $5.9 trillion, according to Bloomberg.

Why it matters: Income inequality has become a key issue for politicians around the globe, highlighted by the fact that the wealthiest 0.1% of Americans now hold a larger share of wealth at any point since 1929 — the start of the Great Depression.

Go deeperArrowDec 27, 2019

Audit report: Tokyo Olympics likely to cost more than $12.6 billion

The National Stadium, venue for the upcoming Tokyo 2020 Olympic Games. Photo: Behrouz Mehri/AFP via Getty Images

Japan's National Audit Board released a report on Friday suggesting the Tokyo Olympics is likely to cost $9.7 billion in addition to the $12.6 billion that organizers are claiming the event's price tag will be, AP reports.

Why it matters: Only $5.6 billion in private money is allocated to fund the Olympics. The remainder of the funds will come from taxpayers across the country, the city of Tokyo and other government bodies, according to AP.

Go deeperArrowDec 21, 2019

Investors returned to emerging markets in December

Illustration: Eniola Odetunde/Axios

Foreign investors flocked back to emerging markets in December, data from the Institute of International Finance shows.

What happened: IIF estimates EM stocks and bonds drew $30.7 billion from foreigners in December, a significant increase from the $19.9 billion in November, and the continuation of a recovery from EM's summer slump.

Go deeperArrowJan 8, 2020