Hugh Son Profile Banner
Hugh Son Profile
Hugh Son

@Hugh_Son

Followers
9,777
Following
998
Media
305
Statuses
3,410

CNBC reporter , banks + future of money . Served 12 years @business .

Brooklyn
Joined November 2012
Don't wanna be here? Send us removal request.
Explore trending content on Musk Viewer
Pinned Tweet
@Hugh_Son
Hugh Son
9 months
2023 was a big year for the banking world 🌎 For starters, that thing in March. A good reminder that "institutions" are run by flesh & blood who occasionally f--k up in serious ways 👇 1 of 10
10
8
33
@Hugh_Son
Hugh Son
1 year
@jyarow hey good news , they fixed your car !
6
14
8K
@Hugh_Son
Hugh Son
2 years
Breaking: JPMorgan Chase, one of the largest employers in the U.S. financial industry, told employees that it will pay for travel to states that allow legal abortions, according to a memo obtained exclusively by CNBC.
193
901
4K
@Hugh_Son
Hugh Son
5 years
BREAKING: Just hours before the launch of the $350 billion small business relief program expected to be inundated with applications , CNBC couldn’t find a single bank actually ready for it. 🏦
123
911
1K
@Hugh_Son
Hugh Son
3 years
new: @Mastercard says any bank or merchant on its vast network can soon embed crypto into their products. Meaning crypto wallets, credit cards and loyalty programs where points can be earned in & swapped for #bitcoin 💳👇
74
252
782
@Hugh_Son
Hugh Son
6 years
EXCLUSIVE: J.P. Morgan is unveiling a free trading app that aims squarely at competitors from Charles Schwab to Robinhood. The bank’s inspiration for this move, according to CEO Jamie Dimon: Jeff Bezos and Amazon Prime. 👀
18
173
372
@Hugh_Son
Hugh Son
5 years
NEW: Digital bank @Chime is piloting a way to get $1,200 federal stimulus checks to users instantly , weeks before the government sends the payments. CEO Chris Britt credits @mcuban for the idea.👏👏
15
94
351
@Hugh_Son
Hugh Son
2 years
the paper check (remember those?) still rules when it comes to paying rent in this country. @jpmorgan wants to end that and handle more of the $500 billion in annual rent flows w/ its new platform.
83
120
286
@Hugh_Son
Hugh Son
4 years
NEW: Even as the #PPP is set to reopen Monday w/ fresh funding, the full extent that public cos tapped the emergency facility is only now becoming clear. Firms got $855 million, incl. $126.4 million tied to a single Texas hotel magnate. 👇👇
35
196
222
@Hugh_Son
Hugh Son
3 years
NEW piece from me, the result of candid conversations with nearly two dozen Asian Americans on #WallStreet . Read it to learn what the breaking point for a @GoldmanSachs partner was, insight from market seer Tom Lee @fundstrat & many other amazing voices👇
21
78
223
@Hugh_Son
Hugh Son
4 years
Jamie Dimon at his local @Chase branch earlier today #TakeAKnee
Tweet media one
101
47
214
@Hugh_Son
Hugh Son
3 years
I'm proud AF to be an American-born 🇺🇸 Korean American 🇰🇷 Asian American 🌎 Reporter representing the best employer in media @CNBC !! #AAPIHeritageMonth #StopAsianHate #RocketFuel
12
17
214
@Hugh_Son
Hugh Son
6 years
EXCLUSIVE: Jamie Dimon, the billionaire CEO of J.P. Morgan Chase, spent much of last year mulling a 2020 presidential run, sources say. He ultimately decided that he couldn't win either party's nomination. @WilfredFrost #CNBC
78
76
192
@Hugh_Son
Hugh Son
3 years
this happens every time I go 2 the gym 😤
Tweet media one
7
3
200
@Hugh_Son
Hugh Son
3 years
sooo I’m home alone w/ my 4 YO ... praying she doesn’t wake up in next 20 mins while I’m on air in next room... 🤫🤐
Tweet media one
14
2
194
@Hugh_Son
Hugh Son
5 years
new: @GoldmanSachs CEO David Solomon tells @SquawkCNBC that his bankers won’t IPO a company if it has an all-white male board. 60 companies have IPO’d recently without a single diverse director, he added.👀👇
6
74
184
@Hugh_Son
Hugh Son
4 years
so @RobinhoodApp is now limiting users to adding a grand total of ONE share of #GME to their positions. 🤦🏻‍♂️
Tweet media one
30
56
155
@Hugh_Son
Hugh Son
4 years
NEW: @Chime has just closed a round valuing startup at $14.5 billion, surging past @RobinhoodApp as most valuable American consumer fintech, CNBC has learned exclusively. Co. also prepping for pssble IPO for soon as 12 mos. 👇
11
56
154
@Hugh_Son
Hugh Son
6 years
BTW: JPM Coin runs on Quorum, which is a version of Ethereum.
9
47
137
@Hugh_Son
Hugh Son
3 years
breaking: Customers of U.S. banks will soon be able to buy, hold and sell bitcoin through their existing accounts for the first time, according to @NYDIG_BTC . The move could pressure banking giants to get involved. 👇
11
33
130
@Hugh_Son
Hugh Son
4 years
BREAKING: Under the Fed's harsher Covid-19 scenarios for the economy, banks could rack up as much as $700 billion in loan losses as unemployment hits 19.5%, pushing some firms close to their regulatory minimums for capital. 👇👇
15
104
121
@Hugh_Son
Hugh Son
4 years
eye-opening read : Florida woman gets 40% boost in appraised value of her home after removing signs that it was owned by a black family
3
50
130
@Hugh_Son
Hugh Son
6 years
NEW: Buried in Jamie Dimon's 51-page annual letter is his argument to raise taxes on his fellow rich people: “The wealthy should remember that if we improve our society and our economy, then they, in effect, are among the main winners.” #incomeinequality
8
53
124
@Hugh_Son
Hugh Son
4 years
Scoop: Haven, the joint venture formed by three of America’s most powerful companies to lower costs and improve outcomes in health care, is disbanding after three years, CNBC has learned exclusively. #Amazon #BERKSHIRE #JPMorgan 👇
19
83
123
@Hugh_Son
Hugh Son
2 years
new: Jamie Dimon updates his economic forecast from 'storm clouds' to a 'hurricane' caused by unprecedented Fed QT program and Ukraine war. “You better brace yourself... JPMorgan is bracing ourselves..." 👇
34
47
115
@Hugh_Son
Hugh Son
4 years
BREAKING: @GoldmanSachs names new global head for digital assets, @CNBC has learned ✅new chief sees future where all financial assets reside on chain ✅Goldman looking at creating its own coin, he says ✅poached @jpmorgan digital assets head Oli Harris
9
33
117
@Hugh_Son
Hugh Son
4 years
Jamie Dimon: the #coronavirus is a "wake up call" that "laid bare the reality that, even before the pandemic hit, far too many people were living on the edge." Story here 👇
18
47
112
@Hugh_Son
Hugh Son
5 years
Ahead of his @AWSreInvent chat today, @GoldmanSachs CEO David Solomon plays 15 minute set 🎶
Tweet media one
6
36
117
@Hugh_Son
Hugh Son
3 years
Breaking: @BankofAmerica pushes min. hourly wage for all employees to $25. The move by the 2nd biggest U.S. bank shud add pressure to other firms to follow... wage inflation , anyone ? 💸
19
45
112
@Hugh_Son
Hugh Son
3 years
scoop: @binance is making a $200 million investment in @Forbes to help the media co. pull off its planned Q1 SPAC, according to sources. Move indicates Binance views content industry as ripe for #web3 applications , they say. 👇
20
56
88
@Hugh_Son
Hugh Son
3 years
new: @GoldmanSachs says it is first major U.S. bank to make an over-the-counter crypto trade, CNBC learned. Goldman traded a #bitcoin -linked option with @GalaxyDigitalHQ in a sign of the development of crypto markets for institutional investors.
27
40
92
@Hugh_Son
Hugh Son
3 years
. @WellsFargo is shutting down all its customers existing personal lines of credit, accrding to letters obtained by CNBC. The move follows #WFC retrenchment from mortgage & auto lending markets last year as bank labors under @federalreserve asset cap. 👇
28
73
96
@Hugh_Son
Hugh Son
5 years
SCOOP: @jpmorgan is close to winning a lead role in history's biggest IPO, Saudi Aramco. Rival Morgan Stanley wanted the plum assignment too, but it was stung by its handling of the Uber IPO back in May, sources said.🤦‍♂️
6
47
89
@Hugh_Son
Hugh Son
4 months
This Synapse situation has fallen into a perfect regulatory black hole... no agency is willing to go to bat for impacted depositors. No structure exists, including bankruptcy court, to force 4 banks and 1 failed fintech to do the right thing here. This is shambolic
9
23
89
@Hugh_Son
Hugh Son
5 years
yo @SquawkCNBC , here I come 🤓
Tweet media one
7
3
88
@Hugh_Son
Hugh Son
4 years
my first segment with the great @carlquintanilla , only took 3 years @CNBC to make it happen !
Tweet media one
1
3
87
@Hugh_Son
Hugh Son
5 years
new: @Uber wants to offer financial services to the world’s unbanked: Announces new Uber Money division, w/ digital wallet and upgraded debit & credit cards. After giving drivers a no-fee bank account, riders could be next... 🚗👋
15
71
86
@Hugh_Son
Hugh Son
1 year
scoop: @jpmorgan is developing a #ChatGPT like program for investment advice they've named ... wait for it ... IndexGPT , @CNBC learned. Details within , and I'll be chatting about this on air tomorrow 🤖👇
11
30
81
@Hugh_Son
Hugh Son
6 years
Ex- @GoldmanSachs prez Gary Cohn is latest rich guy to say tax proposals from @AOC and Senator Warren will be bad for economy. @jpmorgan CEO Jamie Dimon just said he's willing to pay more $$$ in taxes... he doesn't sound worried about impacts. Who's right?
32
27
69
@Hugh_Son
Hugh Son
4 years
NEW: @MorganStanley is first big U.S. bank to give wealth management clients direct access to bitcoin. The firm just told financial advisors via internal memo that it will allow access to funds from Galaxy Digital and FS Investments, ppl tell me. 👇
11
30
80
@Hugh_Son
Hugh Son
6 years
BREAKING: Wells Fargo CEO Tim Sloan got a 5 percent pay raise to $18.4 million for 2018. It's a year in which regulators froze the bank's asset size, more customer abuses surfaced and shares tumbled. 🤔
17
32
77
@Hugh_Son
Hugh Son
5 months
The collapse of a fintech firm w/ 10 million users has left many Americans w/o access to their M.O.N.E.Y. I reached one, Maryland teacher Chris Buckler, w/ 38K frozen for last 2 wks "How is this not national news??" he asked me H/T to @mikulaja 👇
13
29
81
@Hugh_Son
Hugh Son
4 years
BREAKING: JPMorgan to pay record $920 million to settle probes from three federal agencies over role in the manipulation of global metals & Treasurys markets. H/T to @business for report last week. 👇
13
46
75
@Hugh_Son
Hugh Son
1 year
Hello & Goodbye @firstrepublic ended perhaps the most important conference call in its nearly 40 yr existence after ~13 minutes , no Q&A .... Shares are down 18%
Tweet media one
5
23
72
@Hugh_Son
Hugh Son
2 years
loggin’ off for a spell guys , back April 10 or so 👋
Tweet media one
2
12
73
@Hugh_Son
Hugh Son
4 years
Trump's options when it comes to his huge @DeutscheBank debt just got slimmer. The loans come due in 2023 & 2024, and refinancing with Deutsche is a non starter now🏦👀
16
21
71
@Hugh_Son
Hugh Son
4 years
NEW: @amazon is rolling out a new credit line from @GoldmanSachs today to its army of sellers. Its the first time Amazon will allow an outside financial institution access to sales data for hundreds of thousands of merchants. 👇
8
31
70
@Hugh_Son
Hugh Son
2 years
Now shuttered Signature Bank saw more than $10 billion in $$$ outflows to megabanks on Friday , board member Barney Frank told me. He thinks US punishing them for being a crypto bank 👇
9
29
72
@Hugh_Son
Hugh Son
3 years
NEW: @Grayscale plans filing application to convert world’s biggest #bitcoin fund into a spot ETF early next week, according to source. 👇👇
8
20
69
@Hugh_Son
Hugh Son
6 years
@FrankTYoung @saifedean 1 JPM Coin = 1 USD
6
17
66
@Hugh_Son
Hugh Son
4 years
scoop: @WellsFargo , one of the biggest auto lenders in the U.S., sent letters to hundreds of independent car dealerships last month telling them that the San Francisco-based company was dropping them as a customer. 🚗🚗
10
26
68
@Hugh_Son
Hugh Son
4 years
I've returned to work, btw 👋
9
1
69
@Hugh_Son
Hugh Son
2 years
new: @GoldmanSachs is making a bid to standardize the way the financial industry talks about, tracks and invests in the burgeoning universe of digital assets bank is rolling out a digital assets classification system w/ @MSCI_Inc and @coinmetrics 👇
25
20
66
@Hugh_Son
Hugh Son
5 years
EXCLUSIVE: @BankofAmerica wants to pull off an unlikely transformation: From megabank to trusted financial coach for its 66 million customers. The move comes as banks, #fintech startups and Big Tech all jostle for the future of banking. 💵⚔️📱
10
28
65
@Hugh_Son
Hugh Son
4 years
alert : tomatoes are very good RN !
Tweet media one
7
1
62
@Hugh_Son
Hugh Son
4 years
new: market cap of @Square exceeded that of @GoldmanSachs for first time this week. As reminder, Square started out 11 yrs ago w/plastic CC reader for micro merchants. Goldman started 151 yrs ago, makes markets, advises Fortune 500 CEOs & rich families👇
4
22
63
@Hugh_Son
Hugh Son
4 years
update: it looks like @MorganStanley is only bank of the Big Six specifically saying it won't give $$ to lawmakers who opposed the Electoral College certification of Biden. JPM, Goldman & Citi are instead halting all PAC donations for now.👇
9
24
62
@Hugh_Son
Hugh Son
4 years
classic NYC fall day @ Prospect Park ... bumped into @matt_levine @ the playground ... got into a Seinfeld-like dispute over a parking spot ... how could I ever leave this town ?!?
Tweet media one
5
1
64
@Hugh_Son
Hugh Son
5 years
the world's biggest #WallStreet trading firm @jpmorgan just released a series of interviews on the future of markets; worthwhile if you plan on making a living in trading🤖📈
2
16
59
@Hugh_Son
Hugh Son
5 years
scoop: @Uber is ramping up plans to create financial products to keep users and drivers hooked on its platform. Co is staffing up in New York, w/ plans to hire dozens of engineers. One possible future product: an Uber bank account. W/the great @Kr00ney 🚘
2
28
61
@Hugh_Son
Hugh Son
4 years
Anyone who wants to hold #PPP accountable should bookmark this page: . It is the single best resource to track public cos use of the program.
6
24
60
@Hugh_Son
Hugh Son
4 years
After yrs of hype, blockchain tech is on cusp of a breakthrough: Making money in actual business applications. @jpmorgan creates new unit for blockchain efforts called Onyx, says JPM Coin is live with a large tech client, plans to banish paper checks. 👇
5
24
57
@Hugh_Son
Hugh Son
5 years
NEW : @GoldmanSachs finally has an app for its @marcus retail brand. The app, designed in-house by Goldman’s Clarity Money team, was released quietly a few days ago👇
Tweet media one
7
22
58
@Hugh_Son
Hugh Son
3 years
NEW: @GoldmanSachs is getting into the cloud business, the result of a 2 year project (code name: Alexandria) w/ @awscloud , CEO David Solomon tells me. Firm taking a page from AWS playbook, releasing internal software & data sets to the outside world.👇
0
21
55
@Hugh_Son
Hugh Son
4 years
BREAKING: After the furor that big public companies tapped the #PPP small business lifeline, the @SBAgov issues new guidance to make it less likely that happens in Round 2. It also pressured public firms that took the $$$ to return it in two weeks. 👇👇
7
25
59
@Hugh_Son
Hugh Son
3 years
I just love seeing this logo @ airport every time I go somewhere fun. OOO til July 6 , fam. 🛫🏖
Tweet media one
4
0
60
@Hugh_Son
Hugh Son
4 years
there is no wrong way to eat an F&F slice 🍕🍕
Tweet media one
Tweet media two
4
0
58
@Hugh_Son
Hugh Son
4 years
BREAKING: Marilyn Booker, a 26-year veteran of  @MorganStanley who spent most of that time as the firm's global diversity chief, is suing the bank for racial discrimination and retaliation.
5
17
50
@Hugh_Son
Hugh Son
3 years
NEW: Despite concern that graduates have soured on the industry, there’s no shortage of ppl willing to sign their lives away to a bank. @JPMorgan received nearly 50,000 applications for ~400 IB positions this year. (1/5)
2
23
56
@Hugh_Son
Hugh Son
4 years
just had the discussion w/ my partner about whether she needs to carry pepper spray. I often have this bottle w/ me when I leave the house — it could come in handy if I need to swing it. That’s what it’s like RN for us.
Tweet media one
5
1
59
@Hugh_Son
Hugh Son
9 months
New: @Citi at risk of 4Q loss after charges come in far higher than disclosed by CFO Mark Mason at a conference just last month. “If your problem is credibility with investors, then you shouldn’t be doing this type of thing..." 👇
4
8
32
@Hugh_Son
Hugh Son
6 years
SCOOP: Bank of America's Merrill Lynch brokerage is cracking down on risky securities with a ban on penny stocks. Financial advisers have been told to purge penny stocks from client portfolios. W/ the great @lesliepicker
4
34
52
@Hugh_Son
Hugh Son
6 years
A former JP Morgan trader pleaded guilty to manipulating U.S. metals markets for years -- and he has implicated his supervisors at the bank.
7
22
46
@Hugh_Son
Hugh Son
4 years
new: Wall Street bankers are using commercial drones to close deals during #COVID19 , doing virtual tours of everything from ports & railroads to big-box retail sites. Says @GoldmanSachs mergers cohead: `We believe it will change the M&A landscape forever.'
0
18
50
@Hugh_Son
Hugh Son
6 years
When you are locked out of a story you wrote bc of paywall 😩
Tweet media one
2
0
52
@Hugh_Son
Hugh Son
5 years
BREAKING: The day before @BankofAmerica CEO Brian Moynihan and six other CEOs get grilled by Congress for income inequality & other hot-button issues, the bank says it's boosting minimum wage to $20 an hour. 👏
7
23
52
@Hugh_Son
Hugh Son
3 years
This is why #WallStreet will be back to the office and booking flights again soon. Dimon says he learned @jpmorgan lost out on a deal bc “bankers from the other side visited , and ours didn’t.” 👇
@CNBC
CNBC
3 years
Jamie Dimon, fed up with Zoom calls and remote work, says commuting to offices will make a comeback
46
21
116
6
12
51
@Hugh_Son
Hugh Son
3 years
new : @jpmorgan is buying #ESG investing platform @openinvestco in its third #fintech acquisition since Dec. , @CNBC reports exclusively.👇
7
20
52
@Hugh_Son
Hugh Son
4 years
NEW: Wall Street's traders walked off the floor in March. Some may never return. Read this story to learn why that could be a good thing, told via a rising star @GoldmanSachs 🖥️👇
7
18
51