Robert Frank @robtfrank Twitter profile

Last Seen Profiles

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Robert Frank

@robtfrank

2 years

So @jack pockets $974 million in cash with @elonmusk deal.

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Robert Frank

@robtfrank

2 years

UK to create new “Registry of Foreign Entities” requiring anonymous buyers of real-estate over the past 20 years to disclose the name of true owner. Aimed at Putin’s oligarchs and money-laundering. #Oligarchs

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Robert Frank

@robtfrank

3 years

Elon Musk could become the richest man in the world tomorrow. He’s only $3 billion behind Bezos. If Tesla shares gain more than 1.6%, he surpasses Bezos at $184 billion.

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Robert Frank

@robtfrank

3 years

The combined state and federal top tax rates under new Dem proposal: NYC — 61.2% California — 59.7% New Jersey — 57.2%

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Robert Frank

@robtfrank

4 years

The moment we may all remember, shows the power of @jimcramer and @CNBC - Jim calls for the federal government to back liquidity and credit. Instantly gets phone call on live TV, returns to say the White House is discussing his plan.

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Robert Frank

@robtfrank

3 years

Elon Musk gained more wealth in 2020 than Bill Gates’ entire net worth — $142 Billion vs $132 billion.

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Robert Frank

@robtfrank

2 years

Keep in mind, @chamath cashed out $310 million of personal $SPCE stock, now stepping down from the board. He sold most of it at $34 a share — now trading at $9.

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Robert Frank

@robtfrank

6 months

Jeff Bezos says he’s moving to Florida to be closer to his parents. Another reason — taxes. Washington State has a new 7% tax on capital gains so he will owe $70 million in state taxes for every $1 billion of Amazon stock he sells. And he sells a lot.

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Robert Frank

@robtfrank

3 years

Whitney Wolfe Herd’s stake in Bumble is now worth $1.5 billion, making the 31-year-old one of the youngest self-made female billionaires ever.

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Robert Frank

@robtfrank

3 years

Best response ever to becoming richest person in the world, from @elonmusk

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Robert Frank

@robtfrank

2 years

956 classic cars selling in the next 3 days, estimated at over $400 million with a record 142 asking $1 million or more. Pebble Beach/Monterey will mark a big test for over-heating prices in the collectible car market.

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Robert Frank

@robtfrank

2 years

Tesla has lost $100 billion in market cap since @elonmusk ’s Twitter news Tuesday. Loss = 2.3 Twitters. $TSLA $TWTR

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Robert Frank

@robtfrank

2 years

Hyper-inflation in luxury: Chanel raised the price of its Classic Flap Bag 3 times last year, from $5,200 to $8,200. “We’ve seen absolutely no consumer resistance to any or the price increases” in luxury.

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Robert Frank

@robtfrank

7 years

Mnuchin tells @JohnJHarwood the Estate Tax hurts "lots of farmers and small family businesses." By "lots" he means 80 out of 5,400.

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Robert Frank

@robtfrank

10 months

John Thain, former Merrill CEO and ex-President of Goldman Sachs, finally sold his duplex at 740 Park priced at $25 million. He paid $27.5 million in 2006 — so he’ll likely take a loss after 17 years.

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Robert Frank

@robtfrank

3 years

DoorDash creating massive wealth today — Tony Xu, $3.1 billion. Andy Fang, $2.8 billion. Stanley Tang, $2.8 billion.

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Robert Frank

@robtfrank

3 years

Elon Musk is now the richest person in the world, passing Jeff Bezos this morning with a net worth of $185 billion.

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Robert Frank

@robtfrank

2 years

The fact that @elonmusk ’s net worth has fallen by $65 billion since he announced the Twitter share purchase — making financing and equity much harder to raise — surely has nothing to do with his calling off the @Twitter deal.

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Robert Frank

@robtfrank

4 years

29-year-old Florida man gets $4 million in PPP funds — buys a Lamborghini, spends on dating websites, jewelry and trips.

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Robert Frank

@robtfrank

8 years

@Lamborghini just dropped off my play-date for the afternoon. More on @PowerLunch in the next hour.

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Robert Frank

@robtfrank

6 years

Most valuable tweet ever? @elonmusk just became $851 million richer on his take-private tweet due to $TSLA share increase.

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Robert Frank

@robtfrank

4 years

On a day when I’m hearing from small-business owners who can’t even get onto the application page of the new PPP program, the LA Lakers confirm they received $4.6m from this “small business” program and will be returning it.

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Robert Frank

@robtfrank

3 years

Bids closed! The #NFT of original source code for the World Wide Web just sold for $5.4 million @Sothebys .

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Robert Frank

@robtfrank

5 months

Smart Tax Dodger. Shohei Ohtani is deferring $680 million of his $700m Dodger contract until 2034-2043. After the contract, he can move to FLA or Japan, collect the $680m and potentially avoid $90m in CA state taxes.

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Robert Frank

@robtfrank

5 years

The 1972 Nike Waffle Racing Flat ‘Moon Shoe’ smashes record for most expensive pair of sneakers ever sold — $437,500 @Sothebys . #Shoedog

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Robert Frank

@robtfrank

2 years

High crime, high taxes, low occupancy rate in offices. Doesn’t matter, average Manhattan rents up 29% to over $5,000 a month, highest ever.

Average rent in Manhattan was a record $5,000 last month

The average monthly rent for a Manhattan apartment surpassed $5,000 for the first time.

www.cnbc.com

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Robert Frank

@robtfrank

7 years

I ate the $2,000 pizza -- let's just say the gold stays with you for days.

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Robert Frank

@robtfrank

4 years

Sen. Portman tells @andrewrsorkin the secrecy provisions around loan disbursements are needed so companies don’t have disclose the loans to their other lenders. Isn’t that a form of credit fraud?

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Robert Frank

@robtfrank

2 years

Americans have lost over $9 trillion in wealth from the stock-market declines this year.

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Robert Frank

@robtfrank

3 years

By my calculations, @elonmusk has a $15 billion tax bill coming due (Federal and State). Whatever Twitter says he should do, he would have likely started selling this quarter to pay the tax.

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Robert Frank

@robtfrank

2 years

Warhol’s “Shot sage blue Marilyn” hammers for $170 million, or $195 million with fees @ChristiesInc Most expensive American work ever sold — but stock-market gloom dampened bidding for what many expected to be $250-$300m.

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Robert Frank

@robtfrank

2 years

So @elonmusk would walk away from Twitter with $8.4 billion in cash, after selling his $TSLA shares. Even if he pays the $1B breakup fee, it’s $7.4B in tax-free cash, since he likely sold the stock purchased through options last year.

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Robert Frank

@robtfrank

2 years

Morning, from the most expensive listing — and highest residence — in the world. We will be live from the 131st floor of Central Park Tower on @SquawkCNBC

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Robert Frank

@robtfrank

6 years

Billionaire hedge-funder Paul Tudor Jones tells @CNBC "In 1985, 35% of nation's wealth was owned by by the bottom 90%. Today, they own 23% -- and that 12% has gone to the top .1%. Capitalism may need modernizing."

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Robert Frank

@robtfrank

2 years

Thread: How leveraged will @elonmusk be after Twitter deal? Most media reports are adding the 88m $TSLA shares he already has pledged for loans with the 61m shares he will pledge for the $12.5B Twitter loan = 149m shares. That would mean 84% of his shares are pledged.

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Robert Frank

@robtfrank

2 years

Let’s be clear: the Billionaire Tax is not a wealth tax. It’s a minimum tax-rate (20%) and pre-payment of capital gains taxes, since it taxes unrealized gains on stocks etc and applies the payment to future taxes owed upon sale.

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Robert Frank

@robtfrank

2 years

Market signal? CEO’s and insiders have sold a record amount of their stock this year — 80% above the average. And there is more selling to come.

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Robert Frank

@robtfrank

6 years

@Lamborghini CEO Stefano Domenicali tells me why crypto-millionaires are so obsessed with Lambos.

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Robert Frank

@robtfrank

3 years

Elon Musk has a $15 billion tax bill coming due. Explained:

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Robert Frank

@robtfrank

4 years

April 24 — “We’re a small business,” Nikola CEO Trevor Milton, on receiving $4m from the government through small-business program. June 9 — Nikola is bigger than Ford by market cap, over $28 billion.

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Robert Frank

@robtfrank

2 years

In 2013, Roman Abramovich and Dasha arrived in NY to have their baby born in a NY hospital. He stayed on his yacht. Their daughter, Leah Lou, is therefore an American citizen, making assets he transferred to Leah or a trust harder to seize. #Oligarchs

Abramovich Birth Solves Mystery of Yacht's Berth

Dasha Zhukova, girlfriend of Russian billionaire Roman Abramovich, gave birth last week to a baby girl in New York, according to people close to the family. The birth of Leah Lou, born April 8 at New...

www.cnbc.com

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Robert Frank

@robtfrank

2 years

“Musk, who multiple times over the past year has said he is ‘done selling Tesla stock’ yet again loses more credibility with investors,” @DivesTech says of Musk’s latest $4B $TSLA stock sale to fund Twitter deal.

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Robert Frank

@robtfrank

4 years

“By plugging corporate balance sheets, you’re not making Americans whole. Buying illiquid assets off the balance sheets of banks doesn’t make us whole. It’s not doing anything for the average person,” @chamath . “We are misallocating vast swaths of capital.”

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Robert Frank

@robtfrank

3 years

Turns out, @elonmusk created his stock selling program (10B5-1) on September 14. He polled his Twitter followers on Nov. 6 on whether he should sell. Great theater, but he was always going to sell anyway to pay the taxes.

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Robert Frank

@robtfrank

2 years

Except Garcia’s dad sold $3.6 billion in stock last year before the crash. Other shareholders probably not so “lucky”..

Bloomberg

@business

2 years

The father-son duo that runs used-car company Carvana have now shed almost 80% of their wealth, one of the biggest and fastest declines of any family or individual fortune, according to the Bloomberg Billionaires Index

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Robert Frank

@robtfrank

3 years

“Holy Shit that’s a lot of taxes!” — @beeple says when we asked him about the IRS take of his $69 million NFT sale @ChristiesInc .

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Robert Frank

@robtfrank

2 years

Actor James Garner’s 1966 Heuer Carrera watch — which he wore on “The Rockford Files” — auctions for $176,400 @phillipswatches , six times its estimate. TAG Heuer museum was the buyer.

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Robert Frank

@robtfrank

4 years

For those who thought Bloomberg would go easy on the rich, his plan hikes taxes on the wealthy and companies by $5 trillion. Warren’s wealth tax = $3.75 trillion. Bernie’s wealth tax = $4.4T.

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Robert Frank

@robtfrank

3 years

@SimplicityCapi1 New top federal rate = 39.6% + 3.8% NIIT + 3% surtax = 46.4%. New York City top rate = 3.876% New York State top rate = 10.9%. Total combined city, state, Fed marginal rate = 61.2%

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Robert Frank

@robtfrank

4 years

Biden draws the line for his tax hikes at $400,000 a year. Why $400k? What kind of life does $400k in a big city get you?

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Robert Frank

@robtfrank

3 years

Huge price — $900 million — for Reese Witherspoon’s Hello Sunshine. Looks like all the cash ($500 million) will go to AT&T, Emerson Collective and other investors. She rolls her minority stake into the new Blackstone company.

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Robert Frank

@robtfrank

2 years

Activists break into Russian Oligarch Oleg Deripaska’s $65 million London mansion and “liberate” it to house Ukraine refugees.

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Robert Frank

@robtfrank

2 years

If @elonmusk has to sell more $TSLA stock to fund the $TWTR deal, he would likely start selling Friday, since the SEC trading window for CEO’s typically opens two trading days after earnings release. He may not need to sell. But Oct 28 is coming up fast.

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Robert Frank

@robtfrank

4 years

Restaurant explaining why my @Grubhub order never arrived, even after two hour delay. "Sometimes the drivers get hungry and eat your food." Next time, I'll order for two.

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Robert Frank

@robtfrank

1 year

Based on $TSLA pre-open price, @elonmusk has lost $100 billion in wealth this year and may lose the title as the world’s richest person today to $LVMH chief Bernard Arnault. Tesla (and its shareholders) has lost $600 billion in market cap.

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Robert Frank

@robtfrank

1 year

The pre-nup attorneys for Jeff Bezos and Lauren Sanchez right now…

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Robert Frank

@robtfrank

7 years

Jeff Bezos will become the richest man in the world today if $AMZN and $MSFT hold. Bezos net worth now $90 BILLION.

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Robert Frank

@robtfrank

5 years

“Rabbit” By Jeff Koons sells for $91 million @ChristiesInc . Still trying to get my head — and arms — around this.

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Robert Frank

@robtfrank

7 years

@lamborghini just dropped off my ride for the day - $522K Aventador S. Let's see what 740 horses can do.

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Robert Frank

@robtfrank

3 years

It’s worth remembering @RepTomSuozzi @JoeSquawk that 96% of a SALT cap repeal goes to the top 20% and 57% goes to the top 1%. Let’s call it what it is — a tax break mainly for the wealthy.

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Robert Frank

@robtfrank

4 years

The average home price in the Hamptons hits $2.1 million, up 21% over last year.

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Robert Frank

@robtfrank

3 years

Ferrari names semiconductor-chip executive as CEO. Message is clear: the future of @Ferrari is in tech rather than beating-heart V12s and theatrical design.

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Robert Frank

@robtfrank

6 years

The late David Rockefeller looked at all his investments over his lifetime to determine which performed the best. The winner: art.

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Robert Frank

@robtfrank

2 years

Elon Musk will have the largest stock debt of any CEO after Twitter. The details…

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Robert Frank

@robtfrank

1 year

Mark Wahlberg, who moved to Nevada, sold his Beverly Park estate for $55 million — well below the $87.5 listing price. But he avoid $3 million in taxes by selling before CA mansion tax kicks in on April 1.

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Robert Frank

@robtfrank

6 months

The $52 million Ferrari. @rmsothebys sells the most expensive Ferrari ever sold at auction, a 1962 Ferrari GTO. It last sold for $500K back in 1985.

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Robert Frank

@robtfrank

4 years

Glad I got to see it before it made history. An anonymous bidder bid $73.1 million @Sothebys for Bacon’s triptych — the highest ever bid for work of art online — before getting outbid to $85 million by phone bidder.

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Robert Frank

@robtfrank

3 years

“This is a whole new level of wealth we’re seeing right now. Even for the Hamptons.”

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Robert Frank

@robtfrank

5 years

The two Lyft founders are now worth a combined $1.2 billion as the stock opens, A decade ago they were wearing frog costumes passing around ride-share flyers on college campuses. What a country.

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Robert Frank

@robtfrank

2 years

The challenge for @elonmusk buying Twitter has always been how to fund the $21 billion in cash. He can’t sell enough $TSLA shares and even with last week’s sales he’s $10-$12B short. And he’s already borrowed against the shares.

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Robert Frank

@robtfrank

1 year

Our day begins….

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Robert Frank

@robtfrank

2 years

Elon Musk could write a $43 billion check for $TWTR and still be $37 billion richer than Jeff Bezos.

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Robert Frank

@robtfrank

4 years

Hedge-fund billionaire Ken Griffin buys a Basquiat painting for $100 million, via Baer Faxt .

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Robert Frank

@robtfrank

3 years

“Some of the wealthiest individuals in the country pay very low taxes overall because most of their income takes the form of unrealized capital gains,” @SecYellen . She knows better — wealth is not income.

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Robert Frank

@robtfrank

3 years

The Weeknd’s new home: $70 million, 33,000 square feet, spa, sauna, hammam, indoor pool, outdoor infinity pool with waterfall, movie theater, gym, music studio.

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Robert Frank

@robtfrank

1 year

The $250,000 bottle of whiskey. The Macallan Distil Your World New York Single Cask edition - one of only two bottles produced - sold for $250k @Sothebys , more than 3X estimate. “Flavor note of chocolate-covered peanuts, sweet candy and a hint of cherry blossom.”

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Robert Frank

@robtfrank

6 years

Batmobile replica, built in 2008, autographed by Adam West and ridden by Catwoman Julie Newmar, sells for $195k by @mecum .

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Robert Frank

@robtfrank

1 year

Warren Buffett says Berkshire paid $32 billion in corporate income taxes over the past 10 years. “Had there been 1,000 taxpayers matching Berkshire’s payments, no other business or household would have needed to pay any taxes to the U.S.” for a decade.

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Robert Frank

@robtfrank

9 years

Inside Donald Trump's new $7 million helicopter. http://t.co/D4ZPtwQXFj #superrich http://t.co/QulVncGn8H

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Robert Frank

@robtfrank

5 years

Manhattan real-estate sales fell for the 6th straight quarter -- the first time that's happened in over 30 years. What does it signal?

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Robert Frank

@robtfrank

6 years

The Richest Man in the World Vs. The Most Powerful Man in the world, by the numbers.

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Robert Frank

@robtfrank

7 years

If Amazon stock price holds, Jeff Bezos will be the richest man in the world this morning, with over $89 billion.

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Robert Frank

@robtfrank

11 years

U.S. created more millionaires in 2012 than China, Russia, Brazil and Korea combined. So much for emerging mkts. http://t.co/wqyhcBw8Uo

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Robert Frank

@robtfrank

4 years

“Under a Blue Wave, and the Biden tax plan, financial assets over the long term could suffer a great deal,” Paul Tudor Jones just said on @SquawkCNBC .

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Robert Frank

@robtfrank

1 year

Ferrari posts scorching 1Q results, sales up 21% and margins at all-time high, with the average car price of over $400,000.

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Robert Frank

@robtfrank

2 years

Kicking Russia off SWIFT only helps Russia’s and China’s new alternative payment systems, SPFS and CSBI, as well as Ripple. And it threatens dollar’s role as global reserve currency.

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Robert Frank

@robtfrank

4 years

Forbes a year ago on Kylie Jenner: “She’s the youngest-ever self-made billionaire, reaching a 10-figure fortune at a younger age than Mark Zuckerberg.” Forbes today:

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Robert Frank

@robtfrank

3 years

This is a “tax write-off that could have been figured out by a Texas oilman. But it was figured out by a Chicago hustler.”

ProPublica

@propublica

3 years

New: A massive tax break allows owners to report huge losses to the IRS, even if their teams are profitable, and save themselves hundreds of millions.

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Robert Frank

@robtfrank

1 year

And…he’s back on top. @elonmusk is once again the richest person in the world, with $187 billion, ahead of Bernard Arnault at $185 billion. Elon gained $50 billion in wealth in Jan and Feb thanks to $TSLA share surge.

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Robert Frank

@robtfrank

9 years

@McLarenAuto is tearing it up - profits and revenues up 67%, aims for 4,000 vehicles by 2017 http://t.co/FMSCfztQID http://t.co/KIfLQjejFD

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Robert Frank

@robtfrank

3 years

“Social media is everything” for NFT artists, says @Micah_Johnson3 at @ChristiesInc Art + Tech Summit “Buying is the new liking.”

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Robert Frank

@robtfrank

4 years

The Quarantine Economy — Jeff Bezos is the only billionaire out of the top 20 whose wealth has increased this year.

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Robert Frank

@robtfrank

4 years

EXCLUSIVE: The private-jet industry is asking for bailout money from Washington.

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Robert Frank

@robtfrank

2 years

Second yacht seized: French authorities seize Igor Sechin’s 280-foot Amore Vero, which was undergoing repairs in La Ciotat. The yacht was “making arrangements to sail urgently.” #oligarchs

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Robert Frank

@robtfrank

4 years

Mackenzie Bezos has gained $10 billion in wealth this year with Amazon’s surge. She is now worth $47 billion, more than @elonmusk or Carl Icahn.

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Robert Frank

@robtfrank

4 years

The 3 letters of the recovery. The stock market - V The economy - U The average American - L

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Robert Frank

@robtfrank

2 years

The largest, most expensive new home in America listed today for $295 million. Take the tour, 21 bedrooms, 42 baths, 5,000 sf master suite, tequila bar, wellness spa and a moat.