Oil’s Priciest Stock | Vaping Billionaire’s Net Worth Evaporates | Harry And Meghan’s New Hire

Plus: Bitcoin, Tesla And GameStop: 10 Numbers That Sum Up The Fastest Market Recovery Ever

Good morning.

Saudi Aramco’s yearly results crown its shares as oil’s priciest stock—but are they worth it? We’re also covering the drastic change of fortune of one of China's vaping billionaires and what Prince Harry and Meghan Markle’s latest hire will bring to their nascent entertainment company. Don’t miss out on our analysis of how the stock market made a monumental recovery, a year since one of its worst crashes in history.

In The News Today

Twitter CEO Jack Dorsey sold his first-ever tweet as a non-fungible token for $2.9 million, which he donated to charity. 

Congresswoman Lauren Boebert’s campaign sent a fundraising email rejecting gun control measures a few hours after a gunman in her home state of Colorado killed at least 10 people.

Top Take-Aways

Saudi Aramco’s yearly results showed the world’s largest oil company earned barely enough to afford a $70 billion dividend pay out to the Saudi government, which owns more than 98% of the firm.

News that Chinese regulators are looking to classify e-cigarettes as tobacco products caused a 40% drop in the share price of Chinese e-cigarette maker RLX Technology, with more than $2 billion of its founder’s net worth going up in smoke.

Deliveroo is preparing for an IPO in London that values the British food delivery startup at $12 billion. 

Prince Harry and Meghan Markle’s hiring of veteran producer Ben Browning as head of content for Archewell Productions and Archewell Audio show their commitment to building a new kind of entertainment company.

Knotel, the flexible office startup that filed for bankruptcy protection earlier this year, has found a new leader: Michael Gross, the former vice chairman of another SoftBank-backed firm, WeWork.

Digital health startup Ro began as a telehealth business aimed at men for treating issues like erectile dysfunction and hair loss. Three and a half years later, it includes several business lines at a $5 billion valuation. 

Identity verification startup ID.me has seen a surge of demand during the pandemic. It’s now reached a $1.5 billion valuation and is in use across 22 states.

Today's Must Read

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Sky Sports has reached what the Football Association described in a press release as a “multimillion” three-year agreement to secure the rights to broadcast English Women’s Super League matches starting next season which they proclaimed a “landmark rights deal” for women’s sports.

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