Category: Money

TheStreet 

The Securities Commission of The Bahamas says it is holding these assets pending transfer to clients and creditors.

This is news that will no doubt please the customers and creditors of Sam Bankman-Fried’s crypto empire. 

The authorities of the Bahamas, where the disgraced former emperor of the crypto space lived and where FTX was headquartered, have just announced that they have seized significant assets from the bankrupt cryptocurrency exchange.

The Securities Commission of The Bahamas says it seized these assets as soon as Bankman-Fried, known by the initials SBF in the crypto industry, filed for Chapter 11 bankruptcy for his empire on November 11.

The regulator explains having seized the assets of FTX for security reasons so that they do not disappear mysteriously. 

Based on information provided by Sam Bankman-Fried to the regulator concerning the cyberattacks that took place on the systems of FTX, “the Commission determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of FTXDM to the prejudice of its customers and creditors,” the authority said in a press release.

$3.5 Billion

“As a result, in the exercise of its regulatory powers, the Commission requested and obtained a Court order to safeguard the digital assets owned by or under the custody or control of FTXDM or its principals by transferring them to secure digital wallets under the exclusive control the Commission.”

On 12 November, the regulator said it, therefore, took the action of directing the transfer of all digital assets of under the custody or control of FTX valued at more than US$3.5 billion, based on market pricing at the time of transfer, to digital wallets controlled by the Commission for safekeeping. 

“The digital assets transferred on 12 November 2022 to digital wallets under the exclusive control the Commission are being held by the Commission on a temporary basis, until such time as The Bahamas,” the regulator says.

It added that: “Supreme Court directs the Commission to deliver them to the customers and creditors who own them.”

The regulator, however, warned that “while certain token protocols may require the burning of old tokens and the simultaneous minting of new replacement tokens to effect transfer, in no case, did the process involve the creation of any additional tokens.”

The Bahamian regulator’s announcements are good for FTX’s customers and creditors, but it is not certain that they will recover this money immediately because FTX’s bankruptcy is managed in the United States according to American law, while there is a liquidation of the company in the Bahamas. 

In addition, the regulators have made it known that there was comingling of FTX’s customers’ funds with those of FTX and its sister company Alameda Research, a hedge fund that also acts as a trading platform for institutional investors. Alameda was also part of Bankman-Fried’s empire.

Allegations

FTX, which was founded in May 2019, was unable to meet withdrawal requests from worried and panicked customers. Bankman-Fried is accused of loaning $10 billion in funds from FTX clients to Alameda Research when the two companies were supposed to be independent.

The former trader is facing a series of criminal and civil charges from regulators. SBF was extradited to the United States on Dec. 21 by the authorities of the Bahamas.

He was released after his parents, both law professors at Stanford, signed a $250 million recognizance bond pledging their California home as collateral. Two other friends with significant assets also signed, according to news reports.

“Bankman-Fried was orchestrating a massive, yearslong fraud, diverting billions of dollars of the trading platform’s customer funds for his own personal benefit and to help grow his crypto empire,” the Security and Exchange Commission (SEC) alleges in its civil complaint.

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Business Insider 

EU sanctions on Russian oil products are set to take effect on February 5.

Jason Kozlowski / EyeEm

Oil markets may face headwinds in 2023 as fresh Western sanctions and a price cap on Russian oil come into effect. 
Analysts expect a slump in Russian crude output to squeeze global supplies, putting upward pressure on oil prices.
Demand from China is expected to pick up as zero-COVID restrictions ease, adding to the tightness in energy markets. 

Brace for a drop in Russian oil output and a spike in global crude prices next year as fresh Western sanctions against Moscow take hold and with China’s energy demand set to rebound, three industry analysts told Insider. 

The next round of European Union sanctions on Russian oil products are due to take effect on February 5. It comes in response to the country’s invasion of Ukraine, and will affect refined petroleum products such as diesel.

It follows an EU embargo on seaborne imports of Russian crude effective December 5 and a G7 move to cap the country’s oil at $60 a barrel. Both measures aim to blunt Moscow’s export revenue while still keeping Russian crude flowing through global markets to prevent a supply shock.

According to analysts, the next round of sanctions — combined with a rebound in Chinese demand as zero-Covid restrictions ease — will likely squeeze oil markets and push prices higher. 

Russian crude output could fall by 1 million barrels a day

“We expect the European ban on seaborne Russian crude and refined products (to come into force on February 5) to result in a drop of Russian production of at least 1 million barrels per day in 2023, with Russia having difficulties in finding alternative markets,” said Giovanni Staunovo, a commodity analyst at UBS Global Wealth Management.

Indeed, Russia has threatened it would slash production by up to 700,000 barrels a day in retaliation to the G7 price cap, suggesting another potential hit to the country’s oil output. 

The nation has been rerouting increasing volumes of its oil to India and China amid rising political tensions with Europe, one of its biggest markets, due to the war in Ukraine. In the week leading up to December 9, Moscow sent 89% of its crude, amounting to about 3 million barrels a day, to Asia.

But shipments to Asia are now proving more difficult as European sanctions make it tougher for traders to find enough insured vessels to transport Russian crude.

According to Rystad Energy, however, the risk of a sharp decline in Russian crude production was more acute in mid-2022, when global supplies were tighter.

“As long as US shale performs and delivers growth, we see the market moving towards a more normal equilibrium,” Louise Dickson, a senior analyst at Rystad Energy told Insider.

Crude prices could climb past $100 a barrel 

With global supplies expected to get squeezed, crude prices will likely soar past $100 a barrel next year, according to Saxo Bank’s Ole Hansen and UBS Global Wealth’s Staunovo. 

“The embargo on seaborne crude from now and fuel products from February will likely have a price-supportive impact on markets,” said Hansen, head of commodity strategy at Saxo. The supply disruptions should add to the “expected tightness when demand picks up in China following the current virus surge,” he added.

Those risks raise the likelihood of oil prices topping $100 a barrel, according to Hansen.

“Following a soft first quarter, I see the price of Brent returning to a $90-100 dollar range. What happens later will depend on the strength of an incoming economic slowdown,” he added. UBS’s Staunovo echoed his view. 

Oil prices have trended upward since mid-December after months of declines as supply comes under pressure following EU sanctions on seaborne Russian crude and threats by Moscow that it will slash production in retaliation to the G7-imposed price cap. 

Brent crude, the international benchmark, has risen by more than 10% from this year’s lows reached earlier in December, standing at around $83 a barrel at last check on Friday.

“The real test will come on 5 February with the implementation of a products ban,” Rystad’s Dickson said. “A loss of Russian refined products in Europe will pull extra on US products at a time when refinery dynamics are still quite tight, as evidenced by last summer’s gasoline price surge in the US and diesel crunch in Europe,” she added.

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Katie Thomas reached out to 30 to 40 executive assistants on LinkedIn to get advice on working in tech.

Spencer Platt/Getty

Katie Thomas is a senior executive assistant at Uber and a former assistant to Postmates’ CFO.
She worked her way up in tech by networking and posting frequently on LinkedIn.
She says coming prepared with smart questions and research on an executive is key for interviews.

Katie Thomas has been a senior executive business partner at Uber since March 2021, after the ride-hailing giant acquired her previous employer, Postmates, for $2.65 billion. Before that, she was the executive assistant to Postmates’ chief financial officer.

A self-described introvert who seeks out careers with “mission-driven companies,” Thomas worked her way into Big Tech after starting as a receptionist for a private-equity firm. She told Jessica Vann, the CEO of Maven Recruiting Group, on a recent episode of the podcast “Reach” that “taking a shot” with a good first impression — whether in real life or online — early in her career opened a lot of doors.

Her first piece of advice to anyone starting out is to be active on LinkedIn and connect with people whose career paths mirror your goals. Here’s how — and her tips for interviewing for a role at a big tech company.

Be honest, and be yourself

A few months after beginning her role at Postmates in April 2020, Thomas posted on LinkedIn about her “unusual journey” starting a job entirely remotely, expressing gratitude for “the chance to expand my horizons and challenge myself.” The post received more than 3,000 likes and 100 comments.

“That was an inspiring moment,” Thomas said on the podcast. Since then, she added, she’s grown her profile to more than 2,200 followers by “recognizing my value and the accomplishments I have made.”

For anyone trying to be more active on the platform, she warned against copying how others engage. “Be as authentic as possible in the things that you like and the things that you comment on, the people you connect with,” she said.

Send your message far and wide

Thomas’ position with Postmates was also her first time assisting anyone in the C-suite. So, eager to find a mentor who could guide her through this new challenge, Thomas messaged about 30 to 40 executive assistants who supported CFOs in the tech industry.

She said she told them it was her first time working in tech and for a C-suite and asked for any tips and tricks. She added that while she got only a few responses, “those few people that I was able to connect with, I still connect with to this day.”

These contacts, she said, remained some of her “biggest cheerleaders” as she transitioned to new roles in the industry.

Be bold in a way that works for you

Thomas said she often finds networking and work events draining, so it was crucial to find “that right method or tool that works for you.”

Once, when covering for someone on leave, Thomas had to reschedule an executive’s meeting with Salesforce. Thomas Googled the executive assistant at Salesforce and saw that she had an impressive background.

“She was where I wanted to be five or 10 years from now,” Thomas said. Getting a “good vibe” from email exchanges, Thomas said, she asked if the other executive assistant wanted to get a coffee or a drink.

“The worst they can say is no,” Thomas said.

Thomas said that they went for a drink a few weeks later and that the executive assistant “really helped me think through what my next steps would be.”

Thomas credited this experience with pushing her to be bolder when it came to LinkedIn and other networking opportunities.

Come prepared with talking points

Thomas said positivity is her superpower in interviewing for roles in tech. “People understand who I am right off the bat, and that sometimes that might not work for everyone,” she said. But by being authentic, Thomas added, she can “weed out” people she might not enjoy working for.

Asking smart questions is crucial, too. “It’s easy to be asked questions the whole time and not come prepared with ones of your own,” Thomas said. Some of her favorite to ask are “How much time do you spend with your direct reports?” “What are your priorities in your business as well as your personal life?” and “Are there are other executive assistants I may be working with?”

If the answer to the last question is yes, Thomas said, she’ll ask herself: “Are they also excited about their growth? Are they willing to help and help me understand what’s going on?”

She added that executive assistants should be prepared with “points of why you want to work there and what’s important to you and the things that are exciting to you about what that company is doing.”

She said that in her experience, interviewers want to hear about an interviewee’s ideas and goals — what they’re working toward, and whether they’re going to partner with the executive and match them in terms of hard work and care. “I always make sure that I am researching what they’re doing and the things I want to help with,” Thomas said.

Thomas said that finding the right executive to “grow with me” has been another key to her success. That means supporting someone who understands her goals — one of which, she said, is “working with other kind people.”

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Chief Justice John Roberts compared this year to the aftermath of Brown v. Board of education.

Andrew Harnik/AFP via Getty Images

Chief Justice John Roberts dedicated his 2022 year-end report to calling out threats against judges. 
He said that the courts cannot do their job if they do not feel safe. 
This comes after a tumultuous year for the court after it overturned Roe v. Wade this summer. 

In his annual year-end report, Chief Justice John Roberts said that the threats of violence that judges faced in the aftermath of Brown vs. Board of Education should be a lesson in the “importance of rule by law instead of by mob.” 

This comes amid threats of violence to Supreme Court justices throughout the year, including a threat to Justice Brett Kavanaugh, and public dismay over several decisions made by the courts.

It also comes as many Americans are reeling from the aftermath of one of those decisions, Dobbs v. Jackson, which overturned Roe v. Wade, a 1973 ruling that protected the right to abortion for half a century. The ripple effects included a 10-year-old girl having to go out of state for an abortion after she was denied one in her home state, and for women seeking life-saving medical care in the case of ectopic pregnancies. 

Most of Robert’s written statement in the report this year recounted the 1957 case in which the Supreme Court overturned Plessy v. Ferguson — a case enshrining states’ rights to implement segregation based on race — and desegregated schools.

Robert Davies — an Arkansas Judge who ruled against the Governor of Arkansas’s decision to order the Arkansas National Guard to block the entry of nine Black children into a Little Rock school — faced threats of physical violence, according to Roberts, but there were many people that stood by him. 

“The law requires every judge to swear an oath to perform his or her work without fear or favor, but we must support judges by ensuring their safety,” he said in the report. “A judicial system cannot and should not live in fear.” 

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Business Insider 

Jair Bolsonaro, the former president of Brazil.

Ueslei Marcelino/Reuters

Jair Bolsonaro was missing from the inauguration of Brazil’s new president, Luiz Inácio Lula da Silva.
Bolsonaro rented an MMA fighter’s house in Florida to flee multiple investigations, according to The New York Times.
In Bolsonaro’s place, a 33-year-old garbage collector gave Lula da Silva the presidential sash.

Brazil recognized its new president, Luiz Inácio Lula da Silva, with an elaborate inauguration ceremony on Sunday. 

The leftist incumbent snagged the office from the country’s far-right president, Jair Bolsonaro, in a tight runoff election in October. Bolsonaro refused to formally concede the election, and on Sunday he ditched the inauguration for a trip to Orlando, Florida, The New York Times reported.

According to the NYT, Bolsonaro flew there on Friday and plans to stay for at least a month while he faces investigations from his term as president. The Times reported that he is staying in a rented home owned by an unnamed professional mixed-martial-arts fighter, just miles from Disney World.

As per tradition, Bolsonaro was supposed to pass Lula da Silva a presidential sash during Sunday’s ceremony, symbolizing a peaceful transition of power. Instead, according to The Times, a voice announced that Lula da Silva would accept the sash from “the people of Brazil,” and a 33-year-old garbage collector placed the sash over his shoulder.

Brazil’s President-elect Luiz Inacio Lula da Silva (left) waves to supporters on the day of his swearing-in ceremony, in Brasilia, Brazil, January 1, 2023.

Ueslei Marcelino/Reuters

Bolsonaro is facing five inquiries, according to The Times, including an investigation into his misinformation-laden attacks on Brazil’s voting machines and another into his possible links to “digital militias” that spread misinformation. He no longer has the prosecutorial immunity that comes with the office of Brazil’s President.

The Times also reported that an anonymous source, who is a close friend of the Bolsonaro family, said the former president is waiting in Florida to see if the Lula da Silva administration will push any of those investigations.

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Business Insider 

A business struggles with floodwaters in San Carlos, California, on December 31, 2022.

Tayfun Coskun/Anadolu Agency via Getty Images

An atmospheric river dumped record rainfall across Nothern California on New Year’s Eve.
Photos show flooding, landslides, boat, and helicopter rescues, breached levees, and a sinkhole.
Another atmospheric river is approaching, possibly bringing worse flooding Wednesday and Thursday.

Northern California was inundated with floodwaters when an atmospheric river dumped record rain across the area on New Year’s Eve.

Californians have just a few days of respite before another atmospheric river — a channel of water vapor that can carry as much water as a river — is expected to inundate the area on Wednesday and Thursday. It will be “similar in strength or stronger than the New Years Eve storm,” according to the National Weather Service.

Since soil is already saturated from the recent storm, it may not be able to absorb as much water when the new atmospheric river rains down. That could mean even worse flooding.

A car is partially submerged on a flooded road after heavy rains in San Francisco, California, December 31, 2022, in this screengrab obtained from a social media video.

Dav Yaginuma/Reuters

The recent storm left people stranded, vehicles submerged and abandoned, highways closed, and triggered mudslides and landslides. At least two people have died in the floods. Rescue efforts are ongoing, and the floodwaters are still surging in some areas.

A landslide blocks Highway 92 West in San Mateo County, California, on December 31, 2022.

Tayfun Coskun/Anadolu Agency via Getty Images

Oakland saw its wettest day on record on Saturday, and San Francisco was just shy of its record. Footage from John Shrable, a meteorologist with local news station KRON4, shows significant flooding in the city: 

—John Shrable (@JohnShrable) January 1, 2023

The Oakland Zoo closed on Sunday, after a culvert overwhelmed with rainfall collapsed underground and opened a sinkhole.

—Oakland Zoo (@oakzoo) January 1, 2023

Floodwaters continued to cause trouble after the rain stopped, stranding people and incapacitating businesses.

Atmospheric rivers can dump more and more rain as global temperatures rise because a warmer atmosphere holds more moisture. That increases the risk of severe flooding events like this (or worse) in the future, scientists have warned.

Levee breaches, boat, and helicopter rescues, and two deaths in Sacramento County

An aerial view of the damage after rainstorms caused a levee to break, flooding Sacramento County roads near Wilton, California, January 1, 2023.

Fred Greaves/Reuters

Floodwaters breached levees in the Sacramento Valley on Sunday, leading to evacuation orders — followed by shelter-in-place orders — and flooding Highway 99, the main thoroughfare cutting through the Central Valley.

Rescue efforts throughout the region are ongoing. One person was found dead in a submerged vehicle on Sunday morning, FOX40 News reported. Another person died after being pulled from the waters, according to the San Francisco Chronicle.

In Elk Grove, the fire department used a boat to rescue people from a temporary island created by the flooding, sharing the photo below on Saturday.

—Cosumnes Fire Dept. (@CosumnesFire) December 31, 2022

Elsewhere, a person was rescued by helicopter after floodwaters trapped them against a tree.

—Metro Fire of Sacramento (@metrofirepio) January 1, 2023

San Francisco is flooded and Tahoe is snowed in

The Instagram page for Rintaro, a San Francisco restaurant, shared video of its facilities overwhelmed with standing water.

One San Francisco resident shared footage of a forceful mudslide on Twitter, saying it was running through the Bernal Heights neighborhood on Saturday.

—Zach Klein (@zachklein) December 31, 2022

Further footage shows muddy floodwaters rushing downhill on a residential street.

—Zach Klein (@zachklein) December 31, 2022

In Tahoe, the atmospheric river dumped snow onto roadways that left some drivers stranded and prompted authorities to close major roadways.

Nearby, huge boulders rolled onto Highway 50 during the storm. The California Department of Transportation said it would need to explode them.

—Caltrans District 3 (@CaltransDist3) January 1, 2023

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Former Capitol Police Chief Steven Sund testifying before Congress about Jan. 6

Getty Images North America

Former Capitol Police Chief Steven Sund is releasing his book “Courage Under Fire” on Jan. 3.
The Washington Post got an advanced copy and released some of the contents Sunday. 
The book will detail what went wrong on Jan. 6 and how it could happen again.

The country is not adequately prepared for another domestic terror attack, according to the man who helmed the Capitol Police during the Jan. 6 attack in 2021. 

In his new book “Courage Under Fire,” the police department’s former Chief Steven Sund claimed there was a lack of communication and a neglectful response from federal agencies — such as the Pentagon, the Department of Homeland Security, and the FBI —  responsible for protecting the US against terror.

This ultimately resulted in the violent attack on the Capitol in an attempt to halt the certification of the election, The Washington Post, which had early access to the book, reported. 

“The security and information-sharing policies and mandates put in place after September 11 failed miserably on January 6,” Sund said in the book, according to the Post.”We failed miserably to see the apparent warning signs and the danger, like a ‘gray rhino,’ charging right at us.”

Sund revealed shocking new details of the day — including how the Pentagon sent teams to protect military leaders in their homes, while a desperate Sund requested aid back at the Capitol as his department fought to protect hundreds of lawmakers and their staff. Help from the military did not come for another three hours, The Post reported, after the building was already clear. 

“The Pentagon fully understands the urgency and danger of the situation even as it does nothing to support us on the Hill,” he wrote, per The Post. “For the past several hours, we have been battling a mob at the Capitol and the fight has been televised around the world.

“We have multiple fatalities including a shooting inside the Capitol,” he continued. “We have had to secure members of Congress, the vice president and his family and the next three levels of succession to the president of the United States. And the military has made no effort whatsoever to help end this.”

He also said that the national security agencies did not give him notice of the severity of the threats they had known about, and that politics often take priority over security within the Capitol Police, something he claims is a “recipe for disaster,” according to the Post. 

The book’s revelations come as the Jan. 6 committee released new documents from its final report.

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Then-Florida Governor-elect Ron DeSantis, left, arrives with his wife Casey during an inauguration ceremony, Tuesday, January 8, 2019, in Tallahassee, Florida.

Lynne Sladky/AP Photo

DeSantis is being sworn in for his second term on January 3 in Tallahassee. 
Lots of onlookers will be watching for signs of his national political aspirations. 
Numerous events are scattered over the week, including a candlelight dinner and a ball. 

The political world will be watching Tallahassee this week as Republican Gov. Ron DeSantis of Florida prepares to kick off his second term. 

The governor will take the oath of office on the steps of the Historic Capitol on Tuesday at noon, and several other events will be scattered in Florida’s capital over two days. 

Eagle-eyed viewers will be closely watching for signs of DeSantis’ national ambitions. DeSantis is a favorite to run for the GOP nomination in 2024 behind former President Donald Trump, who made his White House bid official on November 15. 

“When he gives his speech I think that speech — although it will be for Florida — may be telling his projections for 2024,” Jennifer Carroll, who was lieutenant governor under former GOP Gov. Rick Scott, told Insider. “For the inauguration, that would be the thing to look for: What is he going to say in the speech? What is going to be the delivery and the tone?”

The inauguration festivities formally kick off Monday with an intimate candlelight cocktail hour and dinner. 

On Tuesday, after the noon swearing-in on the steps of the Historic Capitol, Florida first lady Casey DeSantis will hold “A Toast to One Million Mamas,” in recognition of the 1.1 million women she mobilized in support of her husband. 

The final event of the two-day bash is the inaugural ball, which typically takes place at the Donald L. Tucker Civic Center. The DeSantises want guests to stay late and dance at the ball, and got a band to perform, said a person briefed on the planning who spoke on condition of anonymity. 

Five people who donated $1 million will get the “inaugural chair” designation and access to multiple inaugural events, according to a breakdown of sponsorship packages obtained by Politico. The overarching theme is “The Free State of Florida,” the Florida Standard first reported.

“The Free State of Florida” is a motto mirroring DeSantis’ 2022 campaign theme. Ahead of Election Day, his campaign ran ads titled “My Florida Story” that featured people talking about how the governor’s policies on COVID-19, when he pushed to keep schools and workplaces open.

DeSantis carried the state by nearly 20 points on Election Day against former Democratic Rep. Charlie Crist. The victory was a stunning turnaround for the governor, who won his first gubernatorial race by just 33,000 votes. 

During his second term, DeSantis will have a supportive supermajority in the Republican legislature. So far, DeSantis pledged to undo sales taxes on certain items and pitched a plan to make it more difficult for teachers to enroll and stay in unions. He has called his priorities for the 2022 session his “Freedom Agenda.” 

DeSantis, 44, is currently the youngest state governor in the US, though he’s about to be unseated from that designation by Gov.-elect Sarah Huckabee Sanders in Arkansas, who is 40. 

Over the course of his two-day inauguration, lobbying offices and law firms also are expected to have their own events in Florida’s capital. 

Officials stand on stage during an inauguration ceremony where Ron DeSantis was sworn in as Florida Governor, Tuesday, January 8, 2019, in Tallahassee, Florida.

Lynne Sladky/AP Photo

Inauguration tickets raise funds for the Republican Party of Florida 

The funds collected from ticket sales for the various official inauguration events will go toward the Republican Party of Florida. Under state law, individuals and corporations don’t have limits as to how much they can contribute to state political parties or committees. 

The inaugural chairs for the event, The Florida Standard reported, are Brian Ballard of Ballard Partners; Nick Iarossi of Capital City Consulting; Bill Rubin of Rubin Turnbull & Associates; and Jeff Hartley of Smith, Bryan & Myers. 

“Both the Governor and First Lady oversaw every detail,” Hartley told Insider of the forthcoming inauguration. “It was put together in a tight timeframe with a small staff who did an unbelievable job of pulling it all together over the holidays.”

Five donors who paid $1 million for tickets will get to attend the candlelight dinner and the ball, receive prime seats to the swearing-in, be able to take a photo with the governor, and get two tickets each to “A Toast to One Million Mamas,” according to Politico.

The toast is taking the place of what has traditionally been a tea with the first lady, according to a Republican strategist who spoke on condition of anonymity to protect invitee information. The event is expected to celebrate DeSantis’ successful endorsements of school board candidates who align with his agenda and to include members of the conservative “Moms for Liberty” group. 

Guests of the governor for various events will include conservative media influencers, three people told Insider. 

Major fundraising is typical for an inauguration, whether it be at the state or federal level. Numerous corporations that do business with the federal government also helped bankroll President Joe Biden’s made-for-TV inauguration celebrations, Insider reported.

DeSantis released a partial list of donors in 2019 that included now-political foe Disney and the private prison company the GEO Group.

This inauguration, DeSantis is considering turning down donations from Big Tech companies, The New York Times reported. 

DeSantis himself has become a prolific fundraiser who shattered records for a gubernatorial campaign, according to the money-in-politics nonpartisan research organization OpenSecrets. His political action committee, Friends of Ron DeSantis, raised nearly $206 million as of November 2, according to the Florida Department of State Division of Elections. 

During Tuesday’s ceremony, DeSantis is expected to appear alongside his wife and Lieutenant Governor Jeanette Nuñez.

Other top Florida officials also tend to appear at the inauguration, including the attorney general, the chief financial officer, and the commissioner of agriculture. 

The 2023 gubernatorial inauguration is the same day as the start of the new Congress up in Washington, DC, so not all of the Florida delegation will be attending. 

“I support Governor DeSantis and am honored to have been invited to his inauguration,” GOP Rep. Matt Gaetz of Florida told Insider. “Unfortunately, I have other pressing business in Washington on January 3rd.”

Emails inquiring about attendance were sent to the offices of other Republican members of the Florida delegation, including now-Sen. Rick Scott, Sen. Marco Rubio, as well as Reps. Byron Donalds and Brian Mast, were not answered in time for deadline. An email sent to a representative for former Florida Gov. Jeb Bush also was not met with a response. 

Then-Florida Gov.-elect Ron DeSantis, right, and his wife Casey wave to supporters as they walk onto the stage after he was declared the winner of the election at his party Tuesday, November 6, 2018, in Orlando, Florida.

Phelan M. Ebenhack/AP Photo

Every inauguration has a different focus and events

DeSantis’ 2019 inauguration had roughly 3,000 guests in attendance, according to The Naples Daily News.

That inauguration included an appreciation event for military veterans and first responders at the Tallahassee Automobile Museum and a legislative luncheon at the state Capitol. The event was a nod to DeSantis’ experience given that he is a veteran who was a lawyer for the Navy. 

The events from the last inauguration also included a breakfast at Goodwood Museum in Tallahassee to recognize Nuñez as the highest-ranking Hispanic woman elected in Florida history.

When DeSantis was first sworn in in 2019, he and his wife opted not to hold a traditional inaugural parade. Instead, they held their son Mason’s baptism at the governor’s mansion with water they collected from the Sea of Galilee during a trip to Israel, according to The Tampa Bay Times.

“The pomp and circumstance is fine, but ultimately this is about putting the pedal to the metal,” the governor told the Associated Press about opting not to have a parade. 

There will be no parade in Tallahassee in 2023, either. The inauguration for Scott — who was DeSantis’ predecessor in the governor’s mansion, did include a parade. Asked by Insider to talk about Florida inaugurations, Scott smiled as he recounted his first swearing-in over a decade ago.

“It’s fun. We had a parade,” Scott said in an interview on Capitol Hill of the official celebrations he partook in.

The only low point that stuck out was a minor technical difficulty. “I walked out to use a teleprompter and it didn’t work,” Scott said of the communications snafu.

Scott said he kept things low-key after his swearing in. 

“They had a ball … but we didn’t have one,” he said, adding, “Every inauguration is different.”

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