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Soho House

Soho House & Co Inc is a membership platform of physical and digital spaces that connects a vibrant, diverse group of members from across the world. The members use the platform to work, socialize, connect, create, and flourish all over the world. It offers lease agreements for Houses, hotels, restaurants, studios, spas, and other properties. The company's reportable segments are: United Kingdom; The Americas; and Europe and Rest of the world. The majority of its revenue is generated from the Americas segment, which encompasses its operating units in the Americas, including Soho Houses, stand-alone U.S. restaurants, Soho Friends, and the management fees under a hotel management contract for the operation of The Ned London.

Soho House & Co Inc. Class A Common Stock

Soho House & Co Inc

The week has been a rollercoaster ride for Wall Street, with a flurry of events stirring the financial markets. From a macro expert&#8217;s warning about a potential market misreading to Bill Gates&#8217; critique of Donald Trump&#8217;s tariffs, the week was packed with intriguing developments.
Let&#8217;s dive into the top stories that made headlines.
Wall Street&#8217;s &#8216;Sugar Rush&#8217;
Stephanie Pomboy, founder of MacroMavens, expressed skepticism about the recent Wall Street rally following the de-escalation of the U.S.-China trade war. She referred to the rally as a &#8220;headline sugar rush,&#8221; suggesting that the market might be misinterpreting the situation.
<a href="https://www.benzinga.com/25/05/45369770/whos-going-to-buy-2-trillion-worth-of-paper-macro-expert-calls-wall-street-rally-a-headline-sugar-rush-as-treasury-yield-spike-signals-bigger-trouble">Read the full article here.</a>
Bill Gates Criticizes Trump&#8217;s Tariffs
Microsoft Corp. co-founder Bill Gates voiced his concerns about President Donald Trump&#8217;s tariffs and the ensuing market turmoil. Gates warned that the unpredictability of U.S. economic policies could hinder long-term business decisions.
<a href="https://www.benzinga.com/news/25/05/45342962/bill-gates-slams-trumps-tariffs-we-told-china-to-make-their-own-chips-and-theyre-making-great-progress-warns-its-a-bad-time-to-inte">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/05/45432465/tom-lee-says-economists-predicting-a-recession-with-certainty-are-dead-wrong-in-my-30-years-ive-never-seen-an-economist" target="_blank" rel="noreferrer noopener">Fundstrat&#8217;s Tom Lee Says Economists Predicting A Recession With Certainty Are &#8216;Dead Wrong&#8217;: &#8216;In My 30 Years, I&#8217;ve Never Seen&#8230;&#8217;</a>
&#8216;Liberation Day 2.0&#8217; Warning
Financial analyst Gordon Johnson sparked a conversation on social media about a potential &#8220;Liberation Day 2.0,&#8221; an event that could trigger a significant equity market downturn. Johnson&#8217;s comments came as the yield on the 30-year U.S. Treasury note is nearing the critical 5% mark.
<a href="https://www.benzinga.com/25/05/45399783/gordon-johnson-warns-of-potential-liberation-day-20-as-30-year-treasury-yields-approach-5-amid-dollar-weakness">Read the full article here.</a>
Trump&#8217;s $600B Saudi Deal
President Donald Trump announced a massive $600 billion investment commitment from Saudi Arabia into the United States. Trump referred to this as a &#8220;golden era&#8221; of U.S.-Middle East economic cooperation.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45390422/trump-unveils-historic-and-transformative-600-billion-saudi-deal-predicts-markets-will-go-a-lot-higher">Read the full article here.</a>
Powell Hints At Changes To Fed Strategy
Federal Reserve Chair Jerome Powell indicated that the central bank is reconsidering its approach to inflation and employment. This comes as part of a major review underway in 2025.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45439079/powell-signals-fed-may-shift-its-inflation-strategy-after-5-year-economic-shake-up">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/markets/equities/25/05/45463291/wall-street-poised-to-open-higher-after-sp-500s-4-day-run-sounds-like-powell-is-expecting-more-frequent-bouts-of-stagflation-cautions-expert" target="_blank" rel="noreferrer noopener">Why Nasdaq, S&amp;P 500 Futures Are Trading Higher Friday</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image via Shuttertsock

News

Economics

Media

Wall Street's 'Sugar Rush,' Bill Gates On Tariffs And A $600 Billion Saudi Deal: Top Economics Updates This Week

<ul>
<li>Deep, durable and consistent reductions in TTR were sustained at two years, following a one-time dose of nex-z</li>
<li>Clinically meaningful improvements in ATTRv-PN related outcomes observed at 24 months compared to baseline, including in patients who were previously progressing on patisiran</li>
<li>Continue to observe generally favorable safety and tolerability data in the full Phase 1 cohort with no new drug-related adverse events within the follow-up period</li>
<li>Enrollment continues to progress well in MAGNITUDE-2, which is designed to measure clinical outcomes (including mNIS+7) and evaluate how a single dose of nex-z can lead to reduction in serum TTR, to potentially support a BLA submission by 2028</li>
</ul>

NTLA

Intellia Therapeutics Announced Two-Year Follow-Up Data from Ongoing Phase 1 Study of Nexiguran Ziclumeran, in Patients with Hereditary Transthyretin Amyloidosis with Polyneuropathy;  Clinically Meaningful Improvements In ATTRv-PN Related Outcomes Observed At 24 Months Compared To Baseline, Including In Patients Who Were Previously Progressing On Patisiran

Ramit Sethi has helped millions of people improve their finances with his book, "I Will Teach You To Be Rich." Many of the strategies he shared in his book still hold value, including automatic investing.
Sethi recently shared an <a href="https://x.com/ramit/status/1921682452893798837">X post</a> that came in response to a question in an online forum. The question revolves around a piece of advice that sounded stupid at first but turned out to be life-changing.&nbsp;
He used the opportunity to tout the benefits of automatically investing 10% of your income.
"If you don't see it, you won't miss it," Sethi explained.&nbsp;
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<li>Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">Invest before it's too late.</a></li>
</ul>
If it's not broken, you don't have to fix it. Sethi has used this approach for various personal finance strategies, including automatic investing. Here's how it can help you.
<h2 class="wp-block-heading">Live Below Your Means</h2>
Making automatic investments will force you to live below your means. If 10% of your paycheck disappears from your bank account before you have the chance to spend it, you won't think about it.
Keeping the money out of sight also allows your portfolio to compound over time. Some investors do not check their portfolios for several weeks, making them less prone to stressing out about volatility in the stock market.
Living below your means is also a great way to keep spending in control and stay out of bad debt. Automatic investing can also leave you with a sizable nest egg by the time you are ready to retire.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
<h2 class="wp-block-heading">Gradually Increase How Much You Automatically Invest</h2>
Using automatic investing to build wealth can give you more financial flexibility in the future. Sethi recommends investing 10% of your paycheck, but you should strive to raise this percentage by at least one point every year.
For instance, if you contribute 10% of your paycheck this year, you should aim to invest at least 11% of your paycheck next year. These gradual increments won't have substantial ramifications on your ability to cover expenses. You may end up reviewing your budget and removing unnecessary items to make this small accommodation.
However, you don't even have to stop at 11%. If you have the flexibility to go from contributing 10% of your paycheck to 15% of your paycheck in one year, then go for it. An annual 1% bump is the minimum, but feel free to invest as much as you can.
See Also: The team behind $6B+ in licensing deals is now building the next billion-dollar IP empire — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">invest early at $2.25/share.</a>
<h2 class="wp-block-heading">Keep Things Simple With An ETF</h2>
You can buy individual stocks, but an ETF is a lot simpler. Investors can choose from ETFs that mirror popular benchmarks like the S&amp;P 500 and Nasdaq Composite. While you can outperform indices by selecting good stocks, it's riskier to construct a portfolio of individual stocks.&nbsp;
Buying an ETF instead of individual stocks can also save you a lot of time. You won't feel the need to look at your portfolio and various stocks every day. Instead, you can focus on growing your income while knowing that a percentage of every paycheck is going into ETFs.&nbsp;
Investors do not have to outperform the stock market to achieve their long-term goals. Achieving market returns may be good enough if you practice effective money habits.&nbsp;
Read Next:
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<li>Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.</li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.30/share!</a></li>
</ul>
Image: Shutterstock

Personal Finance

Ramit Sethi Explains How Automatic Investing Can Grow Your Wealth: 'If You Don't See It, You Won't Miss It'

The past week has been a whirlwind of tech news, with major developments from industry giants like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), as well as emerging players like Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>). Here&#8217;s a quick recap of the top stories that made headlines.
Apple Users Ditch Google Search: In a surprising revelation, Apple executive Eddy Cue announced a decline in search volume on the tech giant&#8217;s platform, a first in 20 years. This news was discussed on the All-In Podcast, where venture capitalist Chamath Palihapitiya urged Google to stop waiting for data and start fighting models like ChatGPT.&nbsp;<a href="https://www.benzinga.com/25/05/45339953/apple-exec-says-iphone-users-are-ditching-google-search-now-chamath-palihaptiya-urges-the-tech-giant-to-stop-waiting-for-data-and-start-fighting-models-like-chatgpt">Read the full article here.</a>
SMCI Rated Outperform by Raymond James: Super Micro Computer received an Outperform rating from Raymond James, thanks to its strong standing in the AI-optimized infrastructure sector and swift revenue growth. AI platforms make up about 70% of Supermicro's revenue, making it a dominant player among branded server vendors.&nbsp;<a href="https://www.benzinga.com/markets/25/05/45399438/smci-rated-outperform-by-raymond-james-amid-dominance-in-branded-ai-server-market">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/05/45479830/mark-cuban-says-back-in-the-day-bill-gates-stole-his-girls-in-las-vegas-he-was-worth-1-million-but-gates-was-the-mega-rich-king-of-tech" target="_blank" rel="noreferrer noopener">Mark Cuban Says &#8216;Back In The Day&#8217; Bill Gates Stole &#8216;His Girls&#8217; In Las Vegas — He Was Worth $1 Million, But Gates Was The Mega Rich &#8216;King of Tech&#8217; &#8211; Benzinga</a>
Trump Praises Nvidia CEO at Saudi Summit: President Donald Trump singled out Nvidia Corp. CEO Jensen Huang for praise during a U.S.-Saudi Investment Forum, highlighting the chipmaker's planned $500 billion investment in U.S. artificial intelligence infrastructure.&nbsp;<a href="https://www.benzinga.com/markets/equities/25/05/45398595/trump-praises-nvidia-ceo-jensen-huang-at-saudi-summit-tim-cook-isnt-here-but-you-are-controlling-99-of-the-chip-market-thats-not-easy-to-beat">Read the full article here.</a>
Gulf Countries to Become &#8216;Largest Hyperscalers&#8217;: CNBC's Jim Cramer lauded the artificial intelligence deals announced after the U.S.-Saudi Investment Forum and touted Gulf countries to be future hyperscalers.&nbsp;<a href="https://www.benzinga.com/25/05/45433051/jim-cramer-says-gulf-countries-will-become-the-largest-hyperscalers-in-the-world-following-ai-deals">Read the full article here.</a>
Nvidia, Amazon, Tesla, Palantir to Benefit from Saudi Arabia&#8217;s AI Push: Analyst Daniel Ives of Wedbush highlighted that the AI Revolution has found its next major area of penetration: Saudi Arabia. He named Nvidia, Amazon, Tesla, and Palantir as the top beneficiaries of this $1 trillion push.&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45424189/nvidia-amazon-tesla-palantir-among-top-beneficiaries-of-1-trillion-saudi-arabia-ai-push-analyst-says">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/25/05/45466150/trump-decides-to-bypass-individual-trade-dealsnew-tariff-rates-to-be-set-unilaterally-and-notified-through-letter" target="_blank" rel="noreferrer noopener">Trump Decides To Bypass Individual Trade Deals — New Tariff Rates To Be Set Unilaterally And Notified Through &#8216;Letters&#8217;</a>
Image created using artificial intelligence via Midjourney.
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a>

Tech

AAPL

GOOG

GOOGL

SMCI

Apple Users Ditch Google Search, Trump Praises Nvidia's Jensen Huang At Saudi Summit, SMCI Stock In 'Sweet Spot' And More: This Week In Artificial Intelligence

Grant Cardone didn't do well in school, but that didn't stop him from becoming one of the most successful real estate investors in the industry. He saw how school didn't serve him and opted to homeschool his children.&nbsp;
Based on this backstory, it's no surprise that Cardone <a href="https://x.com/onadaily365/status/1921635593320051142">doesn't like the modern education system</a>. He believes it's drawn out and needs to be changed.
"There's no reason to go 12 years, man," he said about the schooling system.
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<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a></li>
</ul>
Cardone's insights, success, and experience with the education system offer plenty of valuable lessons about innovating education.
<h2 class="wp-block-heading">Eight Years Of Education May Be Enough</h2>
Cardone criticized the idea that students have to spend 12 years in grade school, and that doesn't even include a four-year college education. Instead of this long process, Cardone believes six to eight years of education is all that you need.
Cutting down to eight years of education allows children to start working at 14-15 years old. While it may sound far-fetched today, he mentioned that Rockefeller, Vanderbilt, and John Pierpont Morgan were all eighth-grade dropouts. School can help some people become successful, but it can also hold back people.&nbsp;
Cardone advocates for a quicker path to a diploma and the workforce. It's part of the reason why Cardone got his children involved in the business when they were 6 years old.
Trending: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">Invest before it's too late.</a>
<h2 class="wp-block-heading">Cardone Was Ready To Work At 15</h2>
Cardone's background in education played a key role in shaping his resentment toward the current education system. He was ready to work at 15 years old and help his mom with bills. Cardone's father had passed away a few years earlier, and he felt powerless at the time to help his mother.
He explained that he had to continue showing up to school until he was 23. He was bored in the classes and also succumbed to drug addiction during that stretch. Cardone said that he was ready to knock on doors at 15, but it took him much longer to finally get that opportunity.
Children used to work at factories at much younger ages. However, those factories often produced dangerous work environments. While it was good to get children out of those dangerous workplaces, children must now wait until they are 14 to do any type of non-agricultural work.
Today, there are many jobs that don't require putting children in dangerous or intense workplaces. Cardone had his children work for him when they were young, and he believes it should be more common for children to work in their early teens or even a little before that point.
See Also: Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.</a>
<h2 class="wp-block-heading">Give Children Responsibility</h2>
Cardone also mentioned in the video clip that keeping children "stuffed in classrooms" doesn't allow them to develop real skills. For instance, you can learn about selling in a textbook, but you learn the most about sales when you jump on the phone and speak with prospects.
Many schools focus on teaching theory instead of applying knowledge. The education system uses tests to measure success, but those tests often revolve around memorizing facts that most students will forget in a few years instead of actionable skills.&nbsp;
Skills like selling, woodwork, home maintenance, and website design can help people be prepared for the world beyond school. Cardone believes real skills like these should be taught in classrooms.
He believes that teaching real skills and shortening the path to the workplace will give children responsibility. They will know that their work is impacting businesses, whether they are employees or on the path to starting their own companies. Work can also provide a sense of purpose, but students miss out on that opportunity in their early years if they spend too much time in the classroom.
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<li>Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.</li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.30/share!</a></li>
</ul>
Image: Shutterstock

Grant Cardone Rips The Modern Education System: 'There's No Reason To Go 12 Years, Man'

This week has been a whirlwind of political and financial news, with President Donald Trump at the center of several controversies. From healthcare to cryptocurrency, Trump&#8217;s policies and actions have sparked heated debates among lawmakers and financial experts. Here&#8217;s a quick recap of the top stories that made headlines over the weekend.
Bernie Sanders Criticizes Trump&#8217;s Budget Bill
Senator Bernie Sanders (I-Vt) delivered a scathing critique of the Republican budget reconciliation bill, labeling it a "death sentence" for millions of Americans. Sanders accused Trump and congressional Republicans of pushing a budget bill that offers a $235 billion estate tax break to the wealthiest 0.2% of Americans, while leaving 99.8% of citizens with no benefit. The bill also proposes to cut $715 billion from Medicaid and the Affordable Care Act, potentially leaving over 13.7 million people without health insurance.&nbsp;<a href="https://www.benzinga.com/general/health-care/25/05/45435914/bernie-sanders-calls-trumps-big-beautiful-bill-a-death-sentence-says-it-delivers-235-billion-tax-break-to-top-0-2-while-99-8-of-americans-get-not">Read the full article here.</a>
Elizabeth Warren Flags Trump-Backed Stablecoin as a Security Risk
Senior Democratic lawmaker Sen. Elizabeth Warren (D-Mass.) expressed concerns about the dollar-pegged cryptocurrency USD1, backed by President Trump. Warren, a known cryptocurrency critic, called the stablecoin a potential threat to national security and a conduit for corruption.&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45399468/elizabeth-warren-calls-out-trump-linked-stablecoin-as-a-national-security-risk-hes-cashing-in-on-foreign-crypto-deals">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/media/25/05/45481159/donald-trump-offers-to-visit-xi-jinping-in-beijing-calls-us-china-ties-important-after-striking-temporary-t" target="_blank" rel="noreferrer noopener">Trump Says He&#8217;s Willing To Visit China To Meet Xi Jinping, Calls US-China Relationship &#8216;Important&#8217; After Striking Temporary Trade Truce</a>
Trump&#8217;s $400 Million Boeing Jet Gift Sparks Controversy
President Trump defended Qatar's offer of a Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) 747-8 jumbo jet reportedly valued at $400 million, despite criticism from former Republican presidential contender Nikki Haley. Haley warned that accepting gifts from foreign nations could threaten intelligence and national security.&nbsp;<a href="https://www.benzinga.com/news/25/05/45400944/as-nikki-haley-slams-trumps-400-million-boeing-jet-gift-from-qatar-bill-ackman-cites-national-security-implications-only-a-fool-would-not-accept-this-says-president">Read the full article here.</a>
Trump Memecoin Adopted by China-Linked Nasdaq Company
Publicly-listed holding company GD Culture Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDC#NASDAQ">GDC</a>) announced plans to raise up to $300 million to build a cryptocurrency reserve made up of Bitcoin and Official Trump. The Nasdaq-listed firm plans to finance this investment through a stock sale to an accredited entity in the British Virgin Islands.&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45397930/trump-memecoin-adopted-by-china-linked-nasdaq-company-as-treasury-reserve-asset">Read the full article here.</a>
Trump Aims to Boost Nuclear Development
President Trump is advancing a series of executive orders aimed at reshaping U.S. nuclear energy policy. The orders aim to accelerate the construction of new nuclear power plants and reduce regulatory barriers, potentially benefiting several companies in the nuclear energy sector.&nbsp;<a href="https://www.benzinga.com/25/05/45378427/trump-wants-to-kickstart-nuclear-development-these-5-stocks-could-boom">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/25/05/45479830/mark-cuban-says-back-in-the-day-bill-gates-stole-his-girls-in-las-vegas-he-was-worth-1-million-but-gates-was-the-mega-rich-king-of-tech" target="_blank" rel="noreferrer noopener">Mark Cuban Says &#8216;Back In The Day&#8217; Bill Gates Stole &#8216;His Girls&#8217; In Las Vegas — He Was Worth $1 Million, But Gates Was The Mega Rich &#8216;King of Tech&#8217; &#8211; Benzinga</a>
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a> 
Image Via Shutterstock

Politics

General

Bernie Sanders Slams Trump's Budget Bill, POTUS $400 Million Boeing Jet Gift And More: This Week In Politics

Elon Musk's enthusiasm for electric vehicles is world famous, but it may have once thwarted a college date. In a 2013 interview, the Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO revealed how his obsession with EVs made for a less-than-romantic evening during his time at university.
What Happened: During an <a href="https://www.youtube.com/watch?v=AHHwXUm3iIg">interview</a> with the Computer History Museum, Musk revealed that he went on a date with a woman who later became a writer for Scientific American. "We went on a date, [and] all I was talking about was electric cars," Musk said. He admitted that it was not a "winning conversation." 
"She said the first question I asked her was, ‘Do you ever think about electric cars?'" he shared.
In another <a href="https://www.youtube.com/watch?v=MBItc_QAUUM">conversation</a> that took place in the same year at the Stanford Graduate School of Business, Musk retold the same anecdote, adding that it "wasn't helpful" and that his date had replied "no, I don't" to his question.
See Also: <a href="https://www.benzinga.com/news/ipos/25/05/45368824/tesla-supplier-catl-sets-modest-underwriting-fees-for-worlds-biggest-ipo-of-2025">Tesla Supplier CATL Sets Modest Underwriting Fees For World&#8217;s Biggest IPO Of 2025</a>
Why It Matters: Musk noted that his once-niche interest has now become a "more effective" conversation starter since his college years. Currently, as Tesla CEO, Musk "leads all product design, engineering and global manufacturing of the company&#8217;s electric vehicles, battery products and solar energy products," according to the company's official website. Musk's net worth has soared to $406.9 billion, according <a href="https://www.forbes.com/profile/elon-musk/?listuri=rtb">to</a> Forbes, in part due to his earnings from Tesla.
Despite multiple <a href="https://www.benzinga.com/25/05/45334371/tesla-workers-told-to-stay-home-as-elon-musks-ev-giant-extends-memorial-day-break-following-13-delivery-drop-and-surging-inventory-report">setbacks</a> and <a href="https://www.benzinga.com/news/25/03/44359267/musk-once-said-he-doesnt-care-if-his-tweets-scare-off-buyers-ill-say-what-i-want-and-if-the-consequence-is-losing-money-so-be-it">controversies</a>, analysts predict that Musk and Tesla are <a href="https://www.benzinga.com/news/25/05/45336172/tesla-bull-gary-black-reaffirms-elon-musks-company-best-positioned-to-capitalize-on-evs-and-autonomo">"best positioned"</a> to capitalize on the evolving trend of EV adoption among drivers.
<a href="https://www.benzinga.com/25/05/45357593/tesla-stock-is-climbing-monday-whats-going-on">Tesla shares rose Monday</a> after reports emerged that the U.S. and China had agreed to temporarily lower most tariffs on each other's products.
Read Next: <a href="https://www.benzinga.com/25/05/45354683/tesla-probably-wont-make-money-on-ride-hailing-for-years-gary-black-says">Tesla Robotaxi Hopes Dashed By Uber, Lyft: No Fast Lane To Profits, Warns Investor Gary Black</a>
Photo courtesy: Shutterstock

TSLA

Elon Musk Asked His Date, 'Do You Ever Think About Electric Cars?' — The Date Flopped, But His Obsession Sparked A $400 Billion Journey

The week was abuzz with tech news, from Apple&#8217;s potential shift in production strategy to a shocking response from Elon Musk&#8217;s AI. Here&#8217;s a quick rundown of the top stories that kept the tech world on its toes.
Apple&#8217;s iPhone Production Pivot &#8211; Wedbush analyst, Dan Ives, predicts that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) could potentially increase its iPhone assembly production in India to 60%-65% by fall, depending on tariff negotiations. However, he also pointed out that the tech giant might revert to a China-driven iPhone strategy based on the tariff situation and deal negotiations. He added that U.S. iPhone production is "not feasible." <a href="https://www.benzinga.com/25/05/45464834/apple-iphone-production-in-us-not-feasible-says-tech-bull-after-donald-trump-tells-tim-cook-to-stay-out-of-india">Read the full article here.</a>
Elon Musk&#8217;s AI Stirs Controversy&nbsp;&#8211; Elon Musk&#8217;s AI, Grok, left users stunned with racially charged commentary about South Africa in response to unrelated questions. This unexpected behavior has sparked concerns about the AI&#8217;s reliability and bias.&nbsp;<a href="https://www.benzinga.com/tech/25/05/45428241/elon-musks-grok-ai-got-asked-how-many-times-has-hbo-changed-its-name-leaves-user-stunned-with-racially-charged-response">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/media/25/05/45481159/donald-trump-offers-to-visit-xi-jinping-in-beijing-calls-us-china-ties-important-after-striking-temporary-t" target="_blank" rel="noreferrer noopener">Trump Says He&#8217;s Willing To Visit China To Meet Xi Jinping, Calls US-China Relationship &#8216;Important&#8217; After Striking Temporary Trade Truce</a>
Gary Black on Pony AI&#8217;s Growth&nbsp;&#8211; Gary Black, managing director of Future Fund LLC, shared his thoughts on&nbsp;Pony AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>)&nbsp;as the Chinese AV company prepares for its quarterly results. Black believes that despite the stock being overbought, it is a good way to play future advances in global autonomy.&nbsp;<a href="https://www.benzinga.com/tech/25/05/45345942/gary-black-weighs-in-on-pony-ais-growth-ahead-of-earnings-report-a-recently-announced-partnership-with-uber">Read the full article here.</a>
Samsung&#8217;s Surprise Launch &#8211; Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) launched the Galaxy S25 Edge, a razor-thin, 163-gram smartphone, just four months after unveiling the rest of the S25 series. The ultra-slim device features a 6.7-inch display, a dual-camera system, and the company&#8217;s latest AI-powered features. <a href="https://www.benzinga.com/25/05/45366293/samsung-unveils-ultra-thin-galaxy-s25-edge-in-surprise-launch-amid-slowing-demand-and-tariff-uncertainty-apple-reportedly-plans-to-catch-up-in-september">Read the full article here.</a>
Tesla Teases FSD Capabilities&nbsp;&#8211;&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;showcased the company&#8217;s Full Self-Driving (FSD) technology ahead of next month&#8217;s Robotaxi launch in Austin, Texas. A video posted online showed a Tesla vehicle navigating its way through traffic using Supervised FSD.&nbsp;<a href="https://www.benzinga.com/tech/25/05/45342188/elon-musks-tesla-teases-fsd-capabilities-ahead-of-june-robotaxi-event">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/news/25/05/45457691/its-incredible-the-trump-administration-is-acting-like-this-isnt-a-big-deal-says-fox-host-as-la-port-volume-" target="_blank" rel="noreferrer noopener">&#8216;It&#8217;s Incredible The Trump Administration Is Acting Like This Isn&#8217;t A Big Deal,&#8217; Says Fox Host As LA Port Volume Drops 35% And Layoffs Loom</a>
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a> 
Image Via Shutterstock/Akhenaton Images

Markets

PONY

SSNLF

Apple iPhone Production In US 'Not Feasible,' Samsung's Surprise Launch And More: This Week In Appleverse

At most companies, predicting failure would get you fired. At Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), it <a href="https://www.benzinga.com/news/25/05/45360557/jeff-bezos-built-a-1-97-trillion-empire-by-putting-truth-before-comfort-heres-why-he-thinks-thats-wh">came straight from the founder</a>.
In 2018, Jeff Bezos stood before employees during an all-hands meeting and <a href="https://www.benzinga.com/25/05/45241136/jeff-bezos-says-he-won-the-lottery-with-his-teen-mom-she-had-him-at-17-took-him-to-night-school-then-invested-her-245k-savings-in-amazon">delivered the kind of statement</a> you don't expect from a CEO whose company was making billions: "Amazon is not too big to fail. In fact, I predict one day Amazon will fail. Amazon will go bankrupt."
The comment, first <a href="https://www.cnbc.com/2018/11/15/bezos-tells-employees-one-day-amazon-will-fail-and-to-stay-hungry.html">reported by CNBC</a> from a recorded video of the meeting, wasn't offhand. It was Bezos responding directly to a question about what Amazon had learned from the collapse of legacy retailers like Sears. His answer was blunt: big companies don't live forever—and the clock's always ticking.
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He told employees the real danger isn't outside competition. It's losing focus. "If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end," he said. "We have to try and delay that day for as long as possible."
At the time, Amazon was doing anything but failing. It was growing faster than ever. Alexa was in millions of homes. Amazon Web Services was dominating cloud. Retail was scaling globally. Bezos, still CEO then, had no financial reason to sound the alarm—just a long memory and a clear view of what happens when companies start believing they're bulletproof.
He stepped down as CEO in July 2021, <a href="https://www.benzinga.com/markets/equities/25/04/44943074/amazon-ceo-jassy-reveals-whats-kept-him-at-the-tech-giant-for-nearly-3-decade-heres-how-amzn-stock-has-done-since-he-replaced-bezos">handing the reins to Andy Jassy</a>, but the message hasn't aged. In fact, it's only become more relevant. Amazon <a href="https://ir.aboutamazon.com/news-release/news-release-details/2025/Amazon-com-Announces-Fourth-Quarter-Results/">pulled in $638 billion in net sales</a> in 2024 and generated nearly $60 billion in profit. From the outside, it looks unstoppable. Internally, Bezos knew better.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
And he wasn't wrong to bring it up.
A <a href="https://www.mckinsey.com/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/mckinsey%20on%20finance%20number%2084/mckinsey-on-finance-number-84.pdf">2023 McKinsey study</a> found that the average lifespan of a company on the S&amp;P 500 was 61 years in 1958. Today, it's under 18. The firm predicted that by 2027, 75% of the companies on the list will be gone—acquired, merged, or bankrupt. Size doesn't guarantee survival. In fact, it can make you slower, more bloated, more fragile.
Bezos didn't suggest Amazon was collapsing. He reminded everyone it could. The only way to push back the clock, in his view, was to keep the company focused on customers and paranoid about irrelevance.
It's a rare kind of leadership that warns of failure at the peak of success. But maybe that's the only reason Amazon's still beating the odds.
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<li>Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.</li>
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Image: Shutterstock

AMZN

Jeff Bezos Once Told Employees, 'I Predict One Day Amazon Will Fail. Amazon Will Go Bankrupt' — But His Goal Was To 'Try And Delay' The Inevitable

The week in the financial world was nothing short of eventful. From Bitcoin&#8217;s bullish run to political drama involving meme coins, there was no shortage of headlines. Here&#8217;s a quick recap of the top stories that made waves over the weekend.
Peter Schiff&#8217;s Bitcoin Prediction
Noted economist and market commentator Peter Schiff made a bold prediction about Bitcoin&#8217;s future. Schiff believes that the next Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pullback could lead to significant unrealized losses for Strategy Inc., led by Michael Saylor. The company has been buying billions in Bitcoin, funded by debt.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45367816/peter-schiff-predicts-fireworks-says-michael-saylors-strategy-will-see-unrealized-loss-during-bitcoins-next-bearish-dip">Read the full article here.</a>
Bitcoin Hits $105,000 Amid US-China Trade Deal
Bitcoin reached a new high of $105,000 for the first time since January, following the announcement of a trade deal between the U.S. and China. Meanwhile, Ethereum held steady, and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) experienced a slight dip.
<a href="https://www.benzinga.com/trading-ideas/movers/25/05/45339289/bitcoin-taps-105000-ethereum-steady-dogecoin-falls-as-us-announces-china-trade-deal-analyst-says-btc-in-for-a-price-discovery-uptrend-if-it-secures-a-weekly-close-above-this-lev">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/trading-ideas/movers/25/05/45342167/why-is-this-dogecoin-clone-surging-on-monday-morning" target="_blank" rel="noreferrer noopener">Why Is This Dogecoin Clone Surging On Monday Morning?</a>
Anthony Scaramucci&#8217;s Bitcoin Forecast
Anthony Scaramucci, founder and CEO of SkyBridge Capital, stated that Bitcoin would be considered a full-fledged asset class, akin to gold, once it hits $500,000. He made this statement at CoinDesk&#8217;s Consensus 2025 conference.
<a href="https://www.benzinga.com/25/05/45427302/anthony-scaramucci-forecasts-bitcoin-will-be-deemed-asset-class-akin-to-gold-when-it-reaches-500000">Read the full article here.</a>
Ark Invest&#8217;s Warning to Bitcoin Treasury Companies
Brett Winton, the chief futurist at ARK Investment Management LLC, warned that Bitcoin treasury companies like&nbsp;Strategy Inc. could face trouble in the long run. He highlighted the risks of funding Bitcoin purchases with debt.
<a href="https://www.benzinga.com/25/05/45465955/bitcoin-treasury-companies-in-focus-as-ark-invest-expert-says-funding-purchases-with-debt-is-a-recipe-for-disaster">Read the full article here.</a>
Chuck Schumer&#8217;s Attack on Trump&#8217;s Meme Coin Connection
Senate Minority Leader,&nbsp;Sen. Chuck Schumer (D-N.Y.), criticized President Donald Trump&#8217;s decision to parole family members of Mexican cartel leaders into the United States. He implied a potential connection to the Official Trump meme coin.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45426516/chuck-schumer-says-trump-is-letting-cartel-members-into-the-us-asks-how-much-memecoin-did-they-pay">Read the full article here.</a>
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45471925/donald-trumps-crypto-ties-could-be-a-banana-skin-for-the-industry-report" target="_blank" rel="noreferrer noopener">Donald Trump&#8217;s Crypto Ties Could Be A Banana Skin For The Industry: Report</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Photo Courtesy: Bukhta Yurii On Shutterstock.com

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$DOGE

Ark Invest's Warning To Bitcoin Treasury Companies, Peter Schiff's BTC Prediction And More: Top Crypto Updates This Week

Ever feel like you're stuck with yourself—no matter how many vision boards you make or how many "new you" phases you cycle through? According to the late Charlie Munger, that might not be a lack of progress. That might just be biology doing its thing.
Munger, who served as vice chairman of Berkshire Hathaway and was Warren Buffett's right-hand man for over four decades, wasn't one for <a href="https://www.benzinga.com/personal-finance/25/04/45110288/99-year-old-billionaire-charlie-munger-said-iron-rule-of-life-is-everybody-struggles-but-you-have-to-soldier-through-its-your-only-option">sugarplum theories or motivational fluff</a>. He believed people were mostly hardwired from day one—and he had the personal experience to back it up. As the father of eight kids, he'd seen enough personalities unfold in real time to feel confident in his conclusion.
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In a <a href="https://www.cnbc.com/2019/02/22/what-berkshire-hathaways-charlie-munger-learned-about-life-at-age-7.html">2019 CNBC interview</a> with "Squawk Box" host Becky Quick, Munger explained, "I think they come into the world, to a certain extent, pre-made. And you just sit there and watch." He didn't stop there. "The shy baby is the shy adult. The booming, obnoxious, domineering baby is the booming, domineering, obnoxious adult. I've never found a way to fix that."
Munger wasn't offering parenting advice—he was making a much broader point about human nature. Whether you're raising a kid or just trying to navigate your own personal evolution, he seemed to believe the core of who you are doesn't really budge. In his words: "I can be cheerful about it, but I can't fix it. I can change my reaction, but I can't change the outcome."
This mindset was part of a larger life philosophy Munger shared during the interview. When asked by Quick about the secret to a long and happy life, he rattled off <a href="https://www.benzinga.com/news/25/01/43077104/charlie-mungers-3-rules-for-success-dont-sell-what-you-wouldnt-buy-work-for-those-you-admire-partner-with-people-you-enjoy">what he called "simple rules"</a>: don't envy, don't resent, live within your means, stay cheerful, and deal with reliable people. "And all these simple rules work so well to make your life better," he said, "and they're so trite."
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
And if you're wondering <a href="https://www.benzinga.com/personal-finance/25/03/44065682/charlie-munger-shared-advice-for-the-young-but-it-applies-to-all-if-youve-got-anything-you-really-want-to-do-dont-wait-until-youre-93">how old he was when he figured that out</a>? "About seven," he replied. Even at that age, he said, he could spot irrationality in the adults around him. "Some older people were a little bonkers," he said. That early observation helped shape a worldview that stayed with him well into his 90s.
So if you've been blaming your quirks on your environment, your parents, or your high school gym teacher—Munger might tell you to look further back. Like, birth. His advice? Don't try to rewrite your wiring. Just figure out how to live with it—and maybe even laugh about it.
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Image: Shutterstock

Billionaire Charlie Munger Had 8 Kids And Said Who You Are At Birth Is Who You'll Always Be — 'I've Never Found A Way To Fix That'

Warren Buffett has never made any apologies for his diet—and he certainly isn't starting now.&nbsp;
The 94-year-old investing icon is just as famous for his <a href="https://www.benzinga.com/24/11/42115069/warren-buffett-is-set-to-collect-776-million-in-coca-cola-dividends-but-daughter-says-his-wife-buys-him-the-soda-on-sale">love of Cherry Coke</a> and fast food as he is for picking winning stocks. He drinks multiple cans of Cherry Coke a day, starts his <a href="https://www.benzinga.com/personal-finance/24/10/41230382/warren-buffett-lets-the-stock-market-decide-his-mcdonalds-breakfast-order-when-its-up-he-spends-">mornings with McDonald's</a>, and owns Dairy Queen. If it's loaded with sugar, salt, or nostalgia, there's a good chance it's on Buffett's plate.
In a memorable moment from the 2019 Netflix documentary "<a href="https://www.netflix.com/title/80184771">Inside Bill's Brain: Decoding Bill Gates</a>," Buffett gives viewers a glimpse into the culinary side of the Oracle of Omaha—one that's unapologetically rooted in comfort food and childhood favorites.
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The scene begins with Buffett and Bill Gates playing bridge, a game Buffett has long described as the perfect mental workout and a personal obsession. From there, the pair move on to lunch, where their decades-long friendship plays out not over market talk, but burgers, Cokes, and milkshakes. Two of the world's richest men, <a href="https://www.benzinga.com/24/12/42477114/bill-gates-recalls-the-time-warren-buffett-slept-over-and-ate-oreos-for-breakfast-poor-example-for-young-people-but-it-works-for-him">bonding over greasy food</a> like old college roommates.
In front of Buffett: a hamburger, a Coke, and what looks to be a strawberry milkshake crowned with whipped cream. Buffett immediately pops the top bun off his burger and starts shaking salt over the patty. Then he shakes some more. And some more. It's less seasoning, more snowfall.
Without missing a beat, he shrugs and offers the kind of <a href="https://www.benzinga.com/25/02/43646798/billionaire-warren-buffett-bet-his-kids-10000-he-wouldnt-gain-weight-and-they-tried-to-cash-in-by-sabotaging-him-with-donuts">Buffett logic that only he could get away with</a>: "I really found what I like to eat by the time I was six. Saved a lot of experimenting since then by just continuing to put a lot of salt on hamburgers and go to it."
Gates, watching the ritual unfold, asks if his doctors ever push back on his dietary choices.
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Buffett, grinning and wiping his mouth, replies, "They learned to give up."
But his daughter hasn't. Buffett reveals that she takes a more proactive approach—documenting his meals and keeping his medical team in the loop whether he likes it or not. "My daughter keeps taking pictures. She had a picture of me the other day with a ton of mayonnaise on something, e-mails it to all of my doctors and they all immediately respond."
And it's not just mayo. "She's taking pictures of potatoes with gravy," Buffett adds, raising his hand to mimic a towering pile. "I like to size things."
The conversation eventually shifts to global health, as Buffett asks Gates about progress on polio eradication. But the image that lingers is Buffett, just a couple years shy of 90 at the time, joyfully ignoring medical advice and doubling down on the foods he's loved for decades.
For Buffett, the secret to long life might just be simple: bridge with friends, burgers with extra salt, and <a href="https://www.benzinga.com/personal-finance/25/01/43341020/warren-buffett-would-give-up-a-year-of-his-life-to-eat-whatever-he-wants-his-daughter-confirms-he-still-gets-daily-mcdonalds-breakfast-at-94">absolutely no experiments with kale</a>.
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Image: Shutterstock

Warren Buffett Says His Daughter Sends Photos of His Mayo And Gravy-Laden Meals to His Doctors — 'They Learned to Give Up'

You might live in a 5,000-square-foot home in a gated neighborhood. You drive a luxury SUV, vacation somewhere new every summer — maybe Italy, maybe Bora Bora — and swipe your card at Whole Foods without ever checking the total. On paper, your life looks rich. But are you?
That's where things get blurry. Because in today's economy, being rich isn't just about looking the part—it's about <a href="https://www.benzinga.com/personal-finance/25/05/45234639/are-you-upper-class-heres-the-net-worth-you-need-in-your-50s">how your income and net worth stack up</a> against everyone else. And depending on where you live and how you've built your wealth, you might still fall squarely in the upper middle class.
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<h2 class="wp-block-heading">What Do the Numbers Say?</h2>
Geography plays a huge role in lifestyle inflation and how "wealthy" you feel. In San Francisco, a $300,000 income might buy you a two-bedroom condo and a decent latte habit. In the Midwest, it might make you feel like a millionaire.&nbsp;
<a href="https://www.pewresearch.org/short-reads/2024/09/16/are-you-in-the-american-middle-class/">According to Pew Research</a>, middle-income households earn between $56,600 and $169,800 a year, depending on household size and local cost of living.&nbsp;
Many sources, <a href="https://www.gobankingrates.com/money/economy/how-much-you-need-to-earn-to-be-upper-middle-class-in-every-state/">including GoBankingRates</a>, place upper middle class income somewhere between $106,000 and $150,000, though that too varies by region.&nbsp;
According to a <a href="https://smartasset.com/data-studies/top-1-percent-income-2024">2024 SmartAsset study</a>, the income needed to join the top 1% of earners in the U.S. is at least $787,712. In states like Connecticut, Massachusetts, and California, however, the threshold climbs past $1 million a year. In Massachusetts alone, top 1% earners bring in at least $1.13 million.
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When it comes to net worth, the Federal Reserve's latest Survey of Consumer Finances reports that the median net worth for U.S. households is around $192,900, while middle-income households <a href="https://usafacts.org/answers/how-much-wealth-does-the-american-middle-class-have/country/united-states/">typically hover around $480,000</a>.
For upper middle class, the estimate ranges between $500,000 and $2 million, depending on age and assets—data cited by analysts like <a href="https://www.financialsamurai.com/the-average-net-worth-by-age-for-the-upper-middle-class/">Financial Samurai</a>, who aggregate from Federal Reserve studies and IRS data.
So, what's considered rich? According to the <a href="https://www.federalreserve.gov/publications/files/scf23.pdf">Federal Reserve's triennial data</a>, the top 10% of households have a net worth starting at $1.9 million.
The<a href="https://www.benzinga.com/personal-finance/24/12/42659832/does-your-net-worth-make-you-rich-heres-what-it-really-takes-to-be-in-the-top-1"> top 1% households</a> exceed $13 million.&nbsp;
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<h2 class="wp-block-heading">So, Are You Rich?</h2>
Being rich isn't just about hitting a certain number—it's about how you manage it, grow it, and what that money actually lets you do.
Two families could earn the same amount. One is living paycheck to paycheck with luxury tastes and high debt. The other has investments, savings, and options. Wealth isn't just how much you make or own—it's about freedom, control, and long-term security.
If your net worth is under $2 million and your income is under $600,000, statistically, you're probably not rich—you're upper middle class. And in today's world, that still means you're doing very well.
But if <a href="https://www.benzinga.com/money/are-you-rich">you're still asking the question</a>, chances are you're somewhere in that gray zone—the one where life looks rich but the numbers keep you just shy of the line.
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Are You Rich or Just Upper Middle Class? Here's The Net Worth And Income It Takes To Be Considered Wealthy

This post was updated to correct a typo in the headline.
Renowned investor&nbsp;Peter Lynch&nbsp;recently opened up about his early&nbsp;experiences with&nbsp;the stock market, his initial&nbsp;investment, and the philosophy that&nbsp;<a href="https://www.benzinga.com/markets/25/05/45338212/peter-lynchs-market-advice-if-you-have-lot-of-stocks-some-will-do-mediocre-some-will-do-okay-if-one-or-two-go-up-big-time-you-produce-a-fabulous-result">has guided his successful career.</a>
Lynch, who rose to prominence during his time at&nbsp;Fidelity&#8217;s Magellan Fund, traced his interest in stocks&nbsp;back to his childhood in&nbsp;the 1950s. His curiosity about the stock market was sparked while he was&nbsp;working as a caddie at&nbsp;a golf club in West&nbsp;Newton, where he often heard corporate executives discussing stocks.
Lynch highlighted the significance of identifying&nbsp;a few good stocks in&nbsp;one&#8217;s lifetime, stating, &#8220;You don&#8217;t&nbsp;need a lot in your&nbsp;lifetime. You only need a&nbsp;few good stocks in your&nbsp;lifetime. I mean how many&nbsp;times do you need a&nbsp;stock to go up ten-fold&nbsp;to make a lot of&nbsp;money? Not a lot,&#8221; he said during a conversation. 
Looking back at the start&nbsp;of the bull market in&nbsp;1982, Lynch characterized it as a &#8220;very scary period&#8221; for the U.S., marked by high inflation and a plummeting economy. Despite the daunting environment, Lynch maintained a positive outlook, having faith in the potential of stocks and companies to bounce back.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/25/05/45186124/peter-lynchs-market-observation-far-more-money-has-been-lost-by-investors-preparing-for-corrections-than-has-been-lost-in-corrections-themselves" target="_blank" rel="noreferrer noopener">Peter Lynch's Market Observation: ‘Far More Money Has Been Lost By Investors Preparing For Corrections, Than Has Been Lost In Corrections Themselves'</a>
He ended by expressing his readiness to seize opportunities, even when more than half the companies in his portfolio were incurring losses. His faith in economic recovery and the potential of these companies proved to be well-founded as the market eventually rebounded.
Lynch&#8217;s insights provide a valuable perspective for investors navigating today&#8217;s volatile market. 
His emphasis on the importance of identifying a few good stocks, coupled with his optimism and readiness to seize opportunities even in challenging times, serves as a reminder of the potential rewards of patient and strategic investing. 
His successful investment journey underscores the importance of maintaining a long-term perspective and the ability to remain calm under pressure.
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Peter Lynch's Market Advice: 'You Don't Need A Lot In Your Lifetime, You Only Need A Few Good Stocks In Your Lifetime' (CORRECTED)

Billy Evans, the partner of imprisoned Theranos founder Elizabeth Holmes, is raising millions of dollars for a new health-tech startup that's already drawing comparisons to Holmes' failed venture.
His company, called Haemanthus, says it is creating AI-powered diagnostic tools that use light to analyze blood, saliva, and urine samples. Despite the similarities to Theranos, Evans is adamant that the comparison stops there.
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<h2 class="wp-block-heading">&#8220;This Is Not Theranos 2.0&#8221;</h2>
"We're Haemanthus. Yes, our CEO, Billy Evans, is Elizabeth Holmes' partner. Skepticism is rational. We must clear a higher bar," the company said in a <a href="https://x.com/haemanthusinc/status/1921644016904364381">statement on X</a>, directly addressing public concerns. "This is not Theranos 2.0. Theranos attempted to miniaturize existing tests. Our approach is fundamentally different."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We&#39;re Haemanthus. Yes, our CEO, Billy Evans, is Elizabeth Holmes&#39; partner. Skepticism is rational. We must clear a higher bar. When <a href="https://twitter.com/nytimes?ref_src=twsrc%5Etfw">@nytimes</a> contacted us, we invited them: see our lab, tech, and team. They declined. The headline was already written. Our reality inconvenient.&#x1f9f5;
&mdash; haemanthus (@haemanthusinc) <a href="https://twitter.com/haemanthusinc/status/1921644016904364381?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
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The company says it uses photonics and AI to detect disease earlier and more accurately.&nbsp;
In follow-up posts, Haemanthus continued: &#8220;The science, when ready, will stand on its own merits. But we feel compelled to introduce ourselves because of recent media coverage.&#8221;
&#8220;Setting the record straight. Elizabeth Holmes has zero involvement in Haemanthus. We&#8217;ve learned from her company&#8217;s mistakes, but she has no role, now or future.&#8221;
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<h2 class="wp-block-heading">Science and Strategy</h2>
Haemanthus, named after the blood lily flower, was incorporated in February 2024 and is still in early development. It reportedly raised around $3.5 million from friends and family and is seeking up to $50 million more. According to the <a href="https://www.nytimes.com/2025/05/10/business/elizabeth-holmes-partner-blood-testing-startup.html">New York Times</a>, some high-profile investors have already passed on the opportunity, while others have committed close to investing.
The company builds on Raman spectroscopy, which it calls &#8220;a proven technique with decades of research.&#8221; Haemanthus says it's using the method to scan biological samples on a molecular level using lasers, paired with deep learning models to detect cancer, Parkinson's, and other diseases.
"We&#8217;re making lab technology accessible through modern lasers and AI," the company said. "Think mainframe-to-PC transformation. Faster. Smaller. Accessible."
<h2 class="wp-block-heading">Theranos Echoes Linger</h2>
Evans, an heir to a hotel fortune, lives in Austin, Texas, with Holmes and their two children. He has not publicly acknowledged Holmes' involvement, but media reports speculate she may be advising him from prison, where she is <a href="https://www.benzinga.com/news/23/06/32697657/elizabeth-holmes-what-was-it-like-working-with-the-disgraced-theranos-founder">serving an 11-year sentence</a> for defrauding investors.
Haemanthus' materials do not mention Holmes, and the company insists she has &#8220;zero involvement.&#8221; Holmes, meanwhile, told <a href="https://people.com/elizabeth-holmes-breaks-her-silence-in-first-interview-from-prison-it-s-been-hell-and-torture-exclusive-8789737">People</a> magazine earlier this year that she plans to return to biotech after her release in 2032.
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The startup's prototype resembles Theranos' miniLab, according to The Times, which accessed the marketing materials. It has a digital display and internal lasers. It plans to begin by testing pets before expanding to humans. The company told investors its long-term goal is to develop a stamp-sized wearable version of the device for people.
Haemanthus claims it is not subject to regulatory oversight for its veterinary diagnostics, citing a redacted U.S. Department of Agriculture document. However, a USDA spokesperson told The Times the agency does regulate veterinary diagnostics and could not confirm the company's claim.
Much of the Haemanthus team comes from <a href="https://www.benzinga.com/25/03/44519166/luminar-and-caterpillar-join-forces-to-revolutionize-autonomous-hauling-with-lidar-tech">Luminar, a self-driving tech company</a> where Evans previously worked. &#8220;Our co-founders have decades of experience in photonics, medicine, and AI. Our technical team scaled Luminar&#8217;s laser systems to production,&#8221; the company wrote.
<h2 class="wp-block-heading">&#8220;We've Learned From Her Company's Mistakes&#8221;</h2>
Haemanthus remains in stealth mode, and Evans has been vague about specifics. "When you're in stealth, you're trying to be in stealth. They aren't going to find anything associated with the name Haemanthus," he told the Times.
Still, the company is leaning into the scrutiny. "We've learned from her company's mistakes, but she has no role, now or future," Haemanthus said.
As for why the company is starting with animals, Haemanthus said, "Not because it's easier, but because it's practical and meaningful. It validates our technology, helps animals who can't describe symptoms, and builds the foundation for human applications."
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'Our Approach Is Fundamentally Different'—Says Partner Of Elizabeth Holmes As He Launches A Blood-Testing Startup, Reportedly Gets Funding

Elon Musk, the CEO of&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), gave a one-word response to NBA legend&nbsp;Shaquille O&#8217;Neal&#8217;s&nbsp;customized Tesla Cybertruck.
Last year Shaquille O&#8217;Neal, also known as Shaq, revealed his custom-made carbon fiber Cybertruck. The former NBA star engaged Effortless Motors to modify&nbsp;his Cybertruck into a widebody&nbsp;variant with a carbon fiber&nbsp;exterior.
The modified Cybertruck, boasting a carbon-kit body, black wheels, and red LED bars, has become the latest addition to Shaq&#8217;s impressive car collection. 
The NBA legend, who owns two Cybertrucks, one each in Las Vegas and Atlanta, along with other luxury vehicles, has caught the attention of Musk with his new Cybertruck.
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Musk responded to a post showcasing Shaq&#8217;s Cybertruck with a simple &#8220;Nice&#8221;, acknowledging the widebody modification and red under glow that make it one of the most eye-catching vehicles on the road.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Nice
&mdash; Kekius Maximus (@elonmusk) <a href="https://twitter.com/elonmusk/status/1832238280709939293?ref_src=twsrc%5Etfw">September 7, 2024</a></blockquote>
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The endorsement from Musk, a renowned figure in the automotive industry, not only highlights the customization potential of Tesla&#8217;s vehicles but also underscores the growing popularity of the Cybertruck among high-profile individuals. 
This could potentially boost the appeal of Tesla&#8217;s products to a wider audience, further solidifying its position in the electric vehicle market.
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Sports

Shaq Rolls Up In A Cybertruck — Elon Musk Has This One-Word Response

Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is reportedly stepping up its game to land big government defense contracts, and CEO Mark Zuckerberg is leading the charge.
<h2 class="wp-block-heading">Meta&#8217;s Military Makeover&nbsp;</h2>
According to <a href="https://www.forbes.com/sites/davidjeans/2025/05/07/meta-pentagon-trump/">Forbes</a>, the tech giant is actively recruiting former Pentagon and national security officials to help pitch its virtual reality and AI tech to the federal government.
This move comes just months after Meta opened its <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41900655/lockheed-martin-shares-shine-as-taiwan-eyes-big-defense-buys">Llama AI model for military use</a>, signaling a major shift in strategy. While Meta has long had lobbyists in Washington, new job postings suggest it's going all-in.&nbsp;
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One job position on Meta's <a href="https://www.metacareers.com/jobs/538598568845759/">website</a> seeks a public policy manager to focus on the White House, preferably with security clearance and Pentagon experience, to &#8220;lead our outreach to national security and foreign policy agencies within the Executive Branch of the U.S. government.&#8221;
In January, Meta brought on Francis Brennan, a former Trump advisor, to lead strategic communications in Washington, D.C.&nbsp;
Forbes reports that another new hire, who worked for an undisclosed government agency for over a decade, wrote on LinkedIn that they will focus on &#8220;intelligence sharing&#8221; with the government. &#8220;Whether it's protecting national security or strengthening the platforms that billions rely on, I'm grateful for the opportunities that allow me to give back,&#8221; the employee reportedly posted.
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Meta didn't comment to Forbes, but the intentions are clear: follow the money. Shana Marshall of George Washington University put it bluntly, telling Forbes, "If you are looking for a money spigot that's never going to get turned off, you go to the Pentagon."
Zuckerberg has also been working hard to cozy up to the Trump administration.
<h2 class="wp-block-heading">Courting the White House&nbsp;</h2>
After donating $1 million to Trump's inauguration committee, he made several moves that seemed designed to appeal to conservatives—<a href="https://www.benzinga.com/news/25/03/44305204/metas-community-notes-to-replace-third-party-fact-checkers">ending Facebook's third-party fact-checking program</a>, disbanding its diversity team, and appointing Trump ally and UFC President <a href="https://www.benzinga.com/general/social-media/25/01/42833727/dana-white-wanted-elon-musk-mark-zuckerberg-in-cage-fight-now-hes-on-metas-board-of-directors">Dana White to Meta's board</a>.
Despite once saying <a href="https://www.benzinga.com/news/24/08/40667286/trump-warns-zuckerberg-in-latest-book-says-he-could-be-in-prison-for-the-rest-of-his-life-we-are-wat">Zuckerberg "should be jailed for life,"</a> President Donald Trump appears to have had a change of heart. The two <a href="https://www.benzinga.com/markets/24/11/42227958/mark-zuckerberg-and-trump-reportedly-met-at-mar-a-lago">met at Mar-a-Lago in November</a>, and <a href="https://www.benzinga.com/news/25/01/42995328/trump-inauguration-from-elon-musk-jeff-bezos-to-barack-obama-george-bush-and-bill-clinton-who-all-will-attend">Zuckerberg attended Trump's inauguration</a>. He even <a href="https://www.benzinga.com/real-estate/25/04/44657361/mark-zuckerberg-was-the-secret-all-cash-buyer-of-that-23-million-d-c-mansion">bought a $23 million home</a> in Washington, D.C.
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Meta hasn't announced any direct defense contracts yet, but it's already working with major military contractors like Palantir (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), and Booz Allen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>). The company said in a <a href="https://about.fb.com/news/2024/11/open-source-ai-america-global-security/">statement</a> last year, &#8220;It is in both America and the wider democratic world's interest for American open source models to excel and succeed over models from China and elsewhere.&#8221;
The shift mirrors a broader trend among tech companies. After years of avoiding military deals due to ethical concerns, firms like Google, OpenAI and Anthropic are now lining up to work with the U.S. government.
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PLTR

'Money Spigot That's Never Going Off'—Meta Reportedly Hiring Ex-Pentagon Officials As They Target Defense Contracts

<ul class="wp-block-list">
<li>McDonald's announced it will be hiring 375,000 people this summer</li>
<li>This is the company's biggest employment initiative since 2020</li>
<li>The announcement comes after two consecutive quarters of losses for the fast food giant</li>
</ul>
McDonald's <a href="https://corporate.mcdonalds.com/corpmcd/our-stories/article/mcdonalds-usa-summer-hiring-celebrate-archways-anniversary.html">announced</a> on Monday that it plans to hire 375,000 new employees this summer. The announcement, which was first made during a news conference with U.S. Labor Secretary Lori Chavez-DeRemer, marks the company's largest employment initiative in five years.
New employees will help fill gaps in the company's more than 13,500 U.S. restaurants, according to media reports. They will also help staff the 900 new restaurants that McDonald's plans to open across the country over the next two years.&nbsp;
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McDonald's is one of the largest employers in the country, with the company claiming it has employed roughly one in every eight&nbsp; Americans. Still, Dave Burchfield, the global people strategy director for the company at the time, told <a href="https://www.hrreporter.com/focus-areas/automation-ai/how-mcdonalds-is-supersizing-engagement/370071">HR Reporter</a> in 2022 that the company has "an average of 100% turnover around the globe" and is always in need of new talent.
Because of this near-constant need to bring on new employees, McDonald's typically leaves staffing up to its franchisees, and large-scale employee enlistment programs of this size are rarities.&nbsp;
Joe Erlinger, McDonald's USA president, told CNN that he sees hiring initiatives like this one as "win-win," as they make the company "more competitive while also positively impacting the economic and social conditions of the communities where we do business."
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
"I often think about the time I spent working in our restaurants as a General Manager, and it was immediately clear that crew members are the heart and soul of this brand," Erlinger said in a statement. "They go above and beyond to take care of our customers, and it's our job to take care of and create opportunities for them.&nbsp;
The employment initiative comes just weeks after McDonald's reported its second consecutive quarter of declining sales. In its <a href="https://corporate.mcdonalds.com/content/dam/sites/corp/nfl/pdf/Q1_25_Earnings_Release.pdf">Q1 earnings report</a>, released on May 1, the company said it had seen a 1% drop in global sales and a 3.6% drop in U.S. sales. On the <a href="https://seekingalpha.com/article/4780500-mcdonalds-corporation-mcd-q1-2025-earnings-call-transcript">earnings call</a> later in the day, CEO Chris Kempczinski and CFO Ian Borden, both attributed the declines to a pullback in spending from low-income consumers.&nbsp;
The initiative also comes at a pivotal moment for the U.S. economy. The <a href="https://www.bls.gov/news.release/pdf/empsit.pdf">Bureau of Labor Statistics</a> reported earlier this month that 177,000 jobs were added in April, keeping unemployment at a low 4.2%. But with Trump's tariffs <a href="https://www.cnbc.com/2025/04/08/trump-tariffs-job-market-impact-will-mostly-be-negative-economists-say.html">causing uncertainty</a> about whether or not unemployment will stay low, incentives like this one can go a long way in keeping confidence in the economy up.&nbsp;
Read Next:
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<li>Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.</a></li>
<li>Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>. </li>
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Image: Shutterstock

McDonald's Announces Biggest Employment Initiative In 5 Years, Says It Will Hire 375,000 People This Summer

Vice President JD Vance has a huge lead over other possible contenders for the 2028 Republican presidential nomination according to a new poll.
What Happened: A survey conducted by J.L. Partners reveals that 46% of registered Republicans support Vance as the successor to President Donald Trump. No other candidate broke out of single digits.
According to the J.L. Partners <a href="https://jlpartners.com/">survey</a>, Gov. Ron DeSantis (R-Fla.) is a distant second to Vance at 8%, followed by Vivek Ramaswamy at 7%. Secretary of State Marco Rubio and Sen. Ted Cruz (R-Texas) each garnered 6% support, while former South Carolina governor and UN Ambassador Nikki Haley secured 5%.
If Donald Trump Jr. is listed as an option, he polls 14%, still far behind Vance.
Vance, a Yale Law graduate and former venture capitalist, rose to prominence with his 2016 memoir Hillbilly Elegy. Initially a Trump critic, he was a strong supporter of Trump during his successful Senate run in 2022 and has been a key communicator on issues such as immigration enforcement, trade, and social issues within the Trump administration.
Also Read: <a href="https://www.benzinga.com/news/25/03/44450678/jd-vances-poll-numbers-at-all-time-low-for-a-new-vp-breaking-kamala-harris-record">JD Vance&#8217;s Poll Numbers at All-Time Low for a New VP, Breaking Kamala Harris Record</a>
Why It Matters: According to&nbsp;JL Partners research manager Caroline&nbsp;Mulvaney, Vance &#8220;can&nbsp;expect to gain further support&nbsp;from voters who are currently&nbsp;supporting individuals unlikely to end&nbsp;up on the 2028 ticket,&nbsp;as well as at least&nbsp;some&nbsp;support from voters who are&nbsp;currently undecided.&#8221; 
This suggests that Vance&#8217;s lead in the race could potentially grow as the nomination process progresses, making him a strong contender for the 2028 Presidential election.
Read Next: <a href="https://www.benzinga.com/news/25/03/44211191/vp-vance-slams-pro-ukraine-protesters-for-confronting-him-with-his-daughter-chasing-a-three-year-old-for-politics" target="_blank" rel="noreferrer noopener">VP Vance Slams Pro-Ukraine Protesters for Confronting Him With His Daughter: ‘Chasing a Three-Year-Old for Politics'</a>
Image: Shutterstock/Consolidated News Photos

Poll Shows Vance With Big Lead For 2028 GOP Presidential Nomination

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Soho House & Co Inc. Announcement on Offer From a Third-party Consortium to Acquire the Company

Soho House & Co Inc. Announces Third Quarter 2024 Results

SHCO BREAKING NEWS: Soho House & Co. is Being Investigated for Breaches of Fiduciary Duties; Current Shareholders are Urged to Contact BFA Law

SHCO REMINDER: The Soho House & Co. Board is Being Investigated for Breaches of Fiduciary Duties; Shareholders are Alerted to Contact BFA Law (NYSE:SHCO)

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SHCO INQUIRY: Current Shareholder of Soho House & Co.? Contact BFA Law about Ongoing Investigation into the Offer Price (NYSE:SHCO)

SHCO INVESTOR INVESTIGATION: An Investigation into the Soho House & Co. Board has been Initiated – Shareholders are Urged to Contact BFA Law

SHCO LEGAL NEWS: An Investigation has been Initiated into the Soho House & Co. Board - Contact BFA Law if You Hold Shares

SHCO INVESTIGATION ALERT: Current Soho House & Co. Shareholder? Contact BFA Law about its Ongoing Investigation into the Board

Soho House & Co Inc. Announces Fourth Quarter and Fiscal Year 2024 Results

Soho House & Co Inc. Announces First Quarter 2025 Results

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