George Soros, a Hungarian-born American billionaire worth approximately over $32 billion, has recently become the proud owner of Peloton stock. His recent investment worth $13.3 million in the exercise equipment, whose stock dropped nearly 78% from a year ago, raised eyebrows of those following Peloton’s latest C-level shake-up.
Peloton’s Co-Founder and Executive Chair John Foley recently announced in a press release the company is cutting 2,800 positions globally, starting with North America. Foley will be stepping down into only the Executive Chair position and will be replaced as CEO and President by Barry McCarthy, a former senior executive at Spotify and Netflix, both successful streaming platforms.
In addition to Peloton’s stock grab, he also invested $2 billion into Rivian Automotive Inc, an American electric vehicle automaker who is said to be a rival to Tesla. Rivian’s CFO Claire McDonough said this year’s focus is production over profit. So far this year, their stock dropped 43% year to date and fell short of its production goals. I guess Soros will help save them from further decline and help put more electricity-hungry vehicles on the streets.
In addition to his new investments, he also withdrew stock in Amazon, Alphabet, Activision Blizzard, T-Mobile, Walk Disney, Airbnb, and Booking Holdings.
It seems that Soros is making big leaps with his hunky investments in streaming service products and electric cars. Why the interest in these two failing companies?
Many people know George Soros because of his involvement and funding of controversial Black Lives Matter, a so-called “social movement” and sometimes violent organization, who was recently under fire in Canada and in California for financial mishaps (because, why be accountable for an organizations spending?) As of October of 2021, George Soros’s funding for BLM totaled over $33 million.
Open Society Foundation, funded by your the world’s favorite radical billionaire, provides grants to organizations and individuals that support “vibrant and inclusive democracies.” Soros recently created a new activist group to help combat disinformation called “Good Information.” Obama’s former senior advisor is on the advisory board.
With the broad array of George Soros’s investments and fundings ranging from socialist groups to electronic cars, is there a link between the in-person “social” movements like BLM that he funds, and the data from electronics? You’ve probably heard them say “data is more valuable than gold”, so maybe George is on to something here.
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