Exclusive | Kenn Ricci's Journey from Pilot to Billionaire: 'I Became Wealthy by Chance.'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 28 2025
0mins
Source: WSJ
Kenn Ricci's Background: Kenn Ricci is a billionaire pilot with a 40-year obsession with aviation and luxury travel, leading to his success in the industry.
Business Ventures: He founded Flexjet, a private-jet company recently valued at $4 billion following an investment from a private-equity firm associated with LVMH.
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Analyst Views on UBS
Wall Street analysts forecast UBS stock price to rise
11 Analyst Rating
7 Buy
2 Hold
2 Sell
Moderate Buy
Current: 39.740
Low
39.12
Averages
52.09
High
71.73
Current: 39.740
Low
39.12
Averages
52.09
High
71.73
About UBS
UBS Group AG is a Switzerland-based holding company and conducts its operations through UBS AG and its subsidiaries. The company operates as a wealth manager with focused asset management and investment banking capabilities and a capital-light and cash-generative business model. The Company comprises four business divisions: Global Wealth Management, which provides tailored advice and solutions to its clients around the globe; Personal & Corporate Banking division provides comprehensive financial products and services to private, corporate and institutional clients in Switzerland; Asset Management division offers investment capabilities and styles across all traditional and alternative asset classes, as well as advisory support to institutions; Investment Bank provides investment advice, financial solutions and capital markets access to institutional, corporate and wealth management clients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strategic Asset Sale: The company signed a definitive agreement to sell its 80% stake in a Turkish gold mine for $1.5 billion, significantly derisking its operations and allowing a sharper focus on core business in the Americas.
- Share Buyback Approval: SSR Mining received approval from the Toronto Stock Exchange to repurchase about 10% of its outstanding common shares, a move that not only enhances earnings per share but also reflects the company's confidence in its intrinsic value.
- Analyst Rating Upgrade: An analyst from UBS raised the price target on SSR Mining while maintaining a buy rating, which, combined with other positive updates, further propelled the stock price and reinforced investor confidence in gold exposure.
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SSR Mining Shares Surge 19.9% Amid Strategic Moves
- Stock Price Surge: SSR Mining's shares rose by 19.9% in the week ending Friday, driven not only by rising gold prices but also by the company's definitive agreement to sell its 80% stake in a Turkish gold mine for $1.5 billion, which derisks operations and boosts investor confidence.
- Share Buyback Plan: The company received approval from the Toronto Stock Exchange to repurchase approximately 10% of its outstanding common shares, a move aimed at enhancing earnings per share and increasing shareholder value, further solidifying market confidence in its stock.
- Analyst Rating Upgrade: An analyst at UBS raised the price target for SSR Mining this week while maintaining a buy rating, indicating a positive outlook for the company's future performance, which may attract more investor interest.
- Market Environment Impact: Despite gold's correlation with the equity market, investors are eager to see gold prices decouple from other asset classes, and SSR Mining's performance offers a solid opportunity for those seeking safe-haven assets, especially amid increasing market volatility.
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- Leadership Endorsement: Regional Director Julie Fox emphasized that the expertise and care these advisors provide to clients set them apart, further enhancing UBS's brand image in the competitive financial services landscape.
- Rigorous Selection Criteria: The Barron's list is compiled based on various criteria, including revenue generated for the firm, assets under management, quality of practice, and regulatory record, ensuring the list's authority and fairness.
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- Urgency of Policy Response: A prolonged closure of the Strait of Hormuz would likely push inflation significantly higher, forcing central banks to maintain a restrictive policy stance longer than anticipated, which will compress margins for debt-heavy sectors and energy-intensive manufacturing.
- Strategic Investor Adjustments: UBS advises institutional investors to adopt selective de-risking strategies in the uncertain environment, focusing on
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- Significant Stock Surge: SSR Mining's shares rose by 19.9% in the week ending Friday, signaling strong market interest and boosting shareholder confidence amid ongoing gold price fluctuations.
- Strategic Asset Sale: The company signed a definitive agreement to sell its 80% stake in a Turkish gold mine for $1.5 billion, significantly derisking its operations and allowing a sharper focus on core business in the Americas.
- Share Buyback Approval: SSR Mining received approval from the Toronto Stock Exchange to repurchase about 10% of its outstanding common shares, a move that not only enhances earnings per share but also reflects the company's confidence in its intrinsic value.
- Analyst Rating Upgrade: An analyst from UBS raised the price target on SSR Mining while maintaining a buy rating, which, combined with other positive updates, further propelled the stock price and reinforced investor confidence in gold exposure.
See More
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- Stock Price Surge: SSR Mining's shares rose by 19.9% in the week ending Friday, driven not only by rising gold prices but also by the company's definitive agreement to sell its 80% stake in a Turkish gold mine for $1.5 billion, which derisks operations and boosts investor confidence.
- Share Buyback Plan: The company received approval from the Toronto Stock Exchange to repurchase approximately 10% of its outstanding common shares, a move aimed at enhancing earnings per share and increasing shareholder value, further solidifying market confidence in its stock.
- Analyst Rating Upgrade: An analyst at UBS raised the price target for SSR Mining this week while maintaining a buy rating, indicating a positive outlook for the company's future performance, which may attract more investor interest.
- Market Environment Impact: Despite gold's correlation with the equity market, investors are eager to see gold prices decouple from other asset classes, and SSR Mining's performance offers a solid opportunity for those seeking safe-haven assets, especially amid increasing market volatility.
See More
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- Advisor Recognition: UBS has announced that 53 financial advisors from its Southeast region have been named to the 2026 Barron's Top 1500 Financial Advisors list, highlighting the firm's excellence and recognition in wealth management.
- Leadership Endorsement: Regional Director Julie Fox emphasized that the expertise and care these advisors provide to clients set them apart, further enhancing UBS's brand image in the competitive financial services landscape.
- Rigorous Selection Criteria: The Barron's list is compiled based on various criteria, including revenue generated for the firm, assets under management, quality of practice, and regulatory record, ensuring the list's authority and fairness.
- Global Wealth Management Leader: As a leading global wealth manager, UBS manages $6.1 trillion in invested assets and remains committed to helping clients achieve their financial goals through personalized advice and solutions.
See More
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- Coverage Initiation: UBS initiated coverage of Jasper Therapeutics (NASDAQ:JSPR) on March 23, 2026, with a Neutral rating and a $1.50 price target, indicating a cautious outlook due to competitive pressures that may limit upside potential.
- Clinical Data Update: On January 8, 2026, Jasper reported updated data for briquilimab, revealing that 67% of patients achieved a complete response at 12 weeks, while 83% responded by week 3 after the initial dose, highlighting the therapy's promise in chronic spontaneous urticaria (CSU).
- Future Research Plans: The company plans to initiate a Phase 2b study for CSU in the second half of 2026, with BEACON and open-label extension data supporting dose selection, demonstrating positive progress in clinical development.
- Investment Outlook Analysis: While Jasper is viewed as a potential investment, UBS noted that certain AI stocks offer greater upside potential and lower downside risk, reflecting a shift in market preference towards more attractive investment options in the biotech sector.
See More
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- Energy-Driven Inflation Pressure: The war with Iran has intensified macro uncertainty, leading UBS to predict that Europe will face new energy-driven inflation, with consumer prices remaining elevated and real incomes under pressure, despite a full-scale recession not being the base case.
- Risk of Growth Slowdown: Analysts warn that the duration of current maritime disruptions will determine whether Europe faces a shallow slowdown or deeper stagnation, with GDP growth expected to modestly slow as private consumption and corporate investment are deferred.
- Urgency of Policy Response: A prolonged closure of the Strait of Hormuz would likely push inflation significantly higher, forcing central banks to maintain a restrictive policy stance longer than anticipated, which will compress margins for debt-heavy sectors and energy-intensive manufacturing.
- Strategic Investor Adjustments: UBS advises institutional investors to adopt selective de-risking strategies in the uncertain environment, focusing on
See More
Apple's Stock Struggles in 2023: Analysts Predict a Brighter Future.
- Stock Performance: Apple stock has faced challenges this year, marked by a series of four consecutive weekly declines.
- Analyst Optimism: Recent analyst reports highlight strong iPhone loyalty and the upcoming release of a new MacBook as positive indicators for the company's future.
See More
