Sawiris family in talks to buy Porsche’s stake in Bugatti maker

Egypt’s billionaire Sawiris family is seeking to enter the high-stakes world of super sports cars.

HOF Capital, a firm cofounded by two members of the Egyptian clan, and BlueFive Capital are in talks to buy Porsche’s stake in Bugatti Rimac, Bloomberg reports.

The discussions center on Porsche’s holding in the venture it runs with Rimac Group, which combines the Bugatti brand with Rimac’s electric performance technology.

If completed, the deal could also include Porsche’s stake in Rimac itself, potentially bringing fresh capital into the Croatian electric car business.

Trump $1.5 billion crypto gamble backfires amid spiraling Alt5

The Trump family’s $1.5 billion crypto deal with Canada’s Alt5 Sigma is going south.

Alt5 CEO Peter Tassiopoulos was suspended after the merger and the company has warned employees it may face lawsuits and regulatory probes, The Information reports.

The merger, announced in August and signed by Eric Trump and Donald Trump Jr. on behalf of their company, World Liberty Financial, was meant to boost both firms through a new Trump-linked WLFI cryptocurrency.

Eric Trump earlier touted the digital coin at the TOKEN 2049 conference in Dubai before it was first generated.

Now, Alt5’s stock has fallen 75% on the Nasdaq and the WLF token has plunged by nearly half its value.