Since the takeover in the summer, it’s been reported by various media outlets that Knighthead manages a portfolio of assets worth circa $9.5billion.
Example: [www.prnewswire.com]
However, according to their latest annual report, they now manage assets worth $2.4trillion!
Source: [wallmine.com]
From $9.5billion to $2.4trillion seems astonishing. Was Hertz Global not factored into their assets under management until recently?
I’m either missing something glaringly obvious or Knighthead have become significantly more successful since the takeover.
Think that's a glaring mistake tbh, probably written by AI
That article say's they have 5% of Wheels Up, a shareholding with $125 Billion, that's wrong, their shareholding is worth $125 Million
It says their Hertz shares are worth $2.2 Trillion, they're not, they're worth $2.2 Billion
It also says their share in Global Blue is $56 Billion, it's not, it's $56 Million
Whoever has written it (probably not a human) has got their millions, billions and trillions mixed up
It’s what happens with you’re involved with Lukas Jutkiewicz
There was a comment in the papers today. Apparently, if you are a millionaire, a stack of $1,000 bills would make a pile of four inches. The stack of $1,000 dollar bills to make a trillion (as Reagan was describing the US national debt - which he increased - in 1981) would reach 67 miles high. This was about a forecast that the world’s first trillionaire would appear within a decade.
I doubt Knighthead manage that amount and it isn’t their money anyway.
Whilst it’s not their money, am I correct in thinking they can invest what they like from the fund as long as it yields a return?
I suppose it depends on the terms their investors have with them. It won’t be a carte Blanche I would imagine. I think they know what they are doing though.
I suspect their investment with us has quite a lot to do with profile as much as how much they hope to eventually make. Others will know more. In that respect it’s not dissimilar to reason why people have put money into clubs in the last, albeit the game runs on a completely higher scale now.
He goes into a lot of detail on this on those investor talks he did in the US, all on Youtube, they were shared in the Summer
Most of the money they have access to they never have to give back, and a large percentage of it is from an 'uber wealthy family'
Skip to 39 mins below
Is the family the Le Mods?
Famous family in South Birmingham, known for a fine collect of erotic arts and wines
My Blue HeavenIs the family the Le Mods?
Famous family in South Birmingham, known for a fine collect of erotic arts and wines
Mmmm erotic wine
My Blue HeavenIs the family the Le Mods?
Famous family in South Birmingham, known for a fine collect of erotic arts and wines
Dick Pics and cans from Attic Brew
👍didn’t see them - ‘not have to give back’ needs to be digested