EddieJayonCrypto
13 Apr 25
Billionaires, including the Persson and Lundin families and Carlos Slim, have collectively invested $96.3 million in their companies amidst market volatility. The Persson family put approximately $78 million into H&M, the Lundin dynasty spent about $16 million to increase their stake in Lundin Minin...
Billionaires, including the Persson and Lundin families and Carlos Slim, have collectively invested $96.3 million in their companies amidst market volatility. The Persson family put approximately $78 million into H&M, the Lundin dynasty spent about $16 million to increase their stake in Lundin Mining, and Slim purchased $2.3 million in PBF Energy shares. This investment surge followed a market downturn triggered by Trump's tariff announcements, leading to a historic $536 billion loss in billionaire wealth over two days, according to the Bloomberg Billionaires Index.
A group of billionaires are brushing past market fears and investing heavily in their companies in an attempt to leverage the volatility. The Persson and Lundin families, along with Carlos Slim, just collectively invested $96.3 million in their respective companies, reports Bloomberg. The Persson family invested approximately $78 million to boost their stake in H&M, where their firm is a major shareholder. The Lundin dynasty spent about $16 million on April 3rd to increase their stake in Lundin Mining. Meanwhile, Slim purchased $2.3 million in PBF Energy shares on the same day, as energy prices slumped.
The buying spree followed a market tumble triggered by Trump’s April 2nd tariff announcements, with PBF Energy dropping over 26% by April 8th. The crash reportedly hit billionaires with a historic $536 billion loss of wealth in the two days following the tariff announcements – the largest two-day decline recorded by the Bloomberg Billionaires Index.