Seems like Wolff has been upto some Gordon Gekko monkey business. An interesting one to follow https://racingnews365.com/trouble-for-wolff-and-stroll-allegations-of-insider-trading-emerge
ÀFAIK, Toto Wolff had a background in finance, having started work in banking. He later set up a fund management company on line, specialised in investment in small businesses and ecology start ups. He made his fortune thanks to the internet boom. That's the official version ...
Background in finance? Where he graduated from? Which bank he worked for? The only thing that is public is that he founded a "start-up investment fund".
I think I read that whilst still student, Toto was already selling bonds for an Austrian bank. Making so much money that he didn't see a need to graduate to start a business. How right he was! Toto was one of the first ones to seize the internet opportunity to launch successively Marchfifteen and Marchsixteen, 2 on line investment companies. When he was driving, he started to look after several other drivers, later joining Mika Hakkinen's management company. Toto Wolff is a true rntrepreneur at heart !
Regulators reject suspicions of insider trading in Aston Martin and Daimler shares BaFin and FCA find no evidence of wrongdoing after looking into dealing, including by Mercedes F1 boss Financial regulators have looked into suspicions of insider trading in Daimler and Aston Martin shares, including the purchase of a stake in the UK luxury carmaker by Toto Wolff, Mercedes’s Formula One boss. BaFin, the German markets watchdog, said it had looked into trading at Daimler and also passed information to counterparts at the UK’s Financial Conduct Authority regarding trading in Aston Martin shares. BaFin said it had not found evidence to proceed with an investigation. The FCA declined to comment. A person familiar with the matter said the FCA had not pursued an investigation. Some of the regulatory actions were first reported by Canadian newspaper Le Journal de Montréal. Wolff, who owns about a third of the Mercedes team, which has won the F1 motor racing championships for seven consecutive seasons, bought shares in Aston Martin in April 2020. Daimler, the Frankfurt-listed parent company of Mercedes, also owns a minority stake in Aston Martin. Wolff purchased a 0.95 per cent stake in Aston Martin from a vehicle controlled by Lawrence Stroll, the UK carmaker’s executive chair. The following month, Aston Martin appointed Tobias Moers, the former head of Mercedes’ high-performance AMG business, as its chief executive. In late October, Daimler said it would increase its stake in Aston Martin to 20 per cent from less than 5 per cent. Daimler has owned Aston Martin shares since 2013. Mercedes F1 said Wolff had not been aware of either plan when he acquired the shares and that “all relevant disclosures were made to the UK financial authorities at the appropriate time”. Wolff did not acquire or trade any Daimler shares or securities last year, Mercedes said. Aston Martin shares have increased by more than two-thirds to £19.62 each since April 17 last year, giving it a value by market capitalisation of more than £2.2bn. Wolff’s stake is now worth £13.9m, according to S&P Global Intelligence. Aston Martin, the carmaker, is separate to the F1 team that bears its name. Canadian billionaire Stroll owns Aston Martin F1 and led a consortium that rescued the carmaker last year. Mercedes supplies engines and gearboxes to the Aston Martin F1 team. Daimler is set to reduce its shareholding in the Mercedes F1 team to a third later this year, following a deal under which Ineos, Jim Ratcliffe’s petrochemicals company, will acquire a third of the racing outfit. https://www.ft.com/content/243b02b8-edae-44e5-8dad-1a6a66bf154f?segmentid=acee4131-99c2-09d3-a635-873e61754ec6
To be honest, I am not here to defend Toto Wolff, being neither his lawyer nor his accountant. This is a F1 forum, not a financial site. I only mentioned what I read about the guy. You could probably find the information you are looking for if you dig up the subject yourself. Personally I am not interested.
Allegations of insider trading in F-1? never. F-1 was born on insider trading, its been crafted out of other peoples money since the beginning. Bernie Ecclestone and Max Mosley just made it respectable.
