June 12, 2021

Social Investing App Invstr Launches Crypto Trading Through Coinbase


Secretive Billionaire Kenneth Dart Makes $6.7 Billion Bet on Tobacco Stocks

(Bloomberg) — It took decades for sustainable investing to become mainstream, but now every week one giant investor after another announces their commitment to ESG.Kenneth Dart will not be joining that club.The billionaire is heir to a plastic cup fortune. More than two decades ago he renounced his U.S. citizenship and moved to the Caribbean, becoming the biggest real estate owner in the Cayman Islands. For years he invested in distressed sovereign debt with Argentina’s former President Cristina Kirchner calling him a “vulture.”And over the past six months Dart, 66, has quietly accumulated one of the classic sin investments. Through a Cayman Islands vehicle called Spring Mountain Investments, Dart has built a 7% stake in British American Tobacco that’s now worth $6 billion. Last month, Spring Mountain disclosed a separate $634 million position in rival Imperial Brands. The Financial Times…

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