Elizabeth McDonald is joined by Ty J. Young Inc. CEO, Ty Young and Lido Isle Advisors President, Jason Rotman to discuss the Uber CEO resignation and Saudi Arabia’s ARAMCO IPO.
Uber CEO resigned June 21, 2017 after helping found the company in 2009. There have been sexual harassment charges, and complaints and evidence of locker room culture. Reports say Facebook’s COO Sheryl Sandberg could be the next to take command at Uber. Is Sandberg the right choice?
Ty Young states Uber needs a fresh face to take over as the company is in decline due to recent events and Sandberg could be what they need. Uber still dominates the market, but can they survive if they get a new CEO?
Jason Rotman states he thinks Uber can still survive and thrive with a new CEO. Rotman states if Uber was a publically traded company that it would’ve actually started to rally on Wednesday, June 21 once Travis Kalanick resigned.
Switching gears to Saudi Arabia’s oil and gas company, Aramco. With a valuation up to $2 trillion, it could be the largest IPO ever. McDonald says we are seeing a dramatic reordering of the kingdom’s succession. Saudi Arabian King Salman elevates his son, Mohammad Bin Salman to be his successor.
Ty Young discusses Mohammad’s high-profile in Saudi Arabia and how this change comes on the tail of the US-Iran deal.
Oil is in a bear market right now, what will happen when this comes to market?
Jason Rotman states he thinks it will stay below 50, but pleads anyone looking at this huge IPO to consider why Saudi Arabia is selling. Where is the smart money?