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FB Roundup: Hyundai, Bacardi, Associated British Foods

January 15, 2021

Chung family driving Hyundai make $2 billion on Apple tie-up reports, Bacardi raises the bar on post-Covid ‘mindful drinking’ trend, Associated British Foods stares at $1.4 billion sales loss but rules out Primark e-commerce.

Chung family driving Hyundai make $2 billion on Apple tie-up reports

The Chung family in control of Hyundai became almost $2 billion better off when South Korean media reported the automaker was in early talks of a partnership with Apple, Inc.

Share prices in Hyundai Motor Co soared by up to 25% in Seoul last week, which boosted the family fortunes of Euisun Chung (picture), 50, chairman, and his father, Mong-Koo, 82. Together they hold about 8% of stock in the group, but maintain influence through complex governance arrangements.

Google exec invests in Uber-type app for helicopters

May 21, 2015

Google’s chairman is among several tech and media executives investing in an Uber-style app that provides helicopter services for New Yorkers.

Google’s chairman is among several tech and media executives investing in an Uber-style app that provides helicopter services for New Yorkers.

Blade launched a year ago and flies users to destinations such as the Hamptons, Cape Cod or Martha’s Vineyard, as well as local airports. A single trip starts around $575.

Eric Schmidt, alongside Barry Diller and David Zaslavs has invested $6 million in the company, which was started with just $50,000. The latest investment values the company at $25 million.