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Tools of the trade: Salesforce, Wells Fargo and Oracle
  + stars: | 2024-05-28 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTools of the trade: Salesforce, Wells Fargo and OracleEva Ados, ERShares COO, Carter Worth, Worth Charting CEO and David Boole, Baycrest managing director, join 'Power Lunch' to offer the fundamentals, technicals and options for three stocks.
Persons: Oracle Eva Ados, Carter, David Boole, Baycrest Organizations: Oracle, Worth Locations: Wells Fargo, Carter Worth
CNN —The summer movie season typically starts with a bang during the month of May and, particularly, during Memorial Day weekend. Memorial Day weekend (Friday through Monday) movie ticket sales are estimated at $128.3 million, according to Comscore data provided to CNN. In fact, the US box office is on track to have its lowest-grossing Memorial Day weekend since the $117.1 million seen in 1995, when “Casper” haunted the screens — and that’s not even adjusting for inflation. The tepid Memorial Day weekend continues what’s been a lukewarm start to the summer box office, a movie-going season that’s still reeling from the effects of last year’s Hollywood strikes. Industry experts agree that the 2024 box office has been sluggish so far , but remain hopeful that the box office can rebound by the end of the year and beyond.
Persons: it’s, , “ Casper ”, that’s, ” Paul Degarabedian, Comscore, , Max, what’s, ” Dergarabedian, “ Barbie ”, “ Oppenheimer ”, Shawn Robbins, there’s, Degarabarian, Deadpool, ” “ Oppenheimer, Barbie ”, Dory, bloomer, Daniel Loria, ” Loria, ” Disney, Loria, “ Deadpool, Fandango, Robbins, “ That’s, , ” Robbins Organizations: CNN, Guild, SAG, Labor, , Warner Bros, Warner Bros ., Star, Walt Disney Studios, Disney, Box, showtime, Century Entertainment, Writers Guild of America, Pixar, Marvel, Industry Locations: United States,
New York CNN —The summer box office is off to a lukewarm start. Last summer, blockbusters “Barbie” and “Oppenheimer” combined added nearly a billion dollars to the domestic box office, according to Comscore data. “Barring some major overperformances, this summer looks like it’ll be down 20% to 25% in box office grosses between May and August from last year,” said analyst Shawn Robbins, founder and owner of Box Office Theory. Industry experts agree that the 2024 box office has been sluggish so far , but remain hopeful that the box office can rebound by the end of the year and beyond. “Box office earnings have been down largely because of staggered gaps between widely appealing releases in the first half of the year,” said Robbins.
Persons: “ Barbie ”, “ Oppenheimer ”, , Max, ” Paul Dergarabedian, , Shawn Robbins, ” “ Oppenheimer, Barbie ”, Dory, bloomer, Daniel Loria, ” Loria, ” Disney, Loria, “ Deadpool, Fandango, Deadpool, Robbins, “ That’s, , ” Robbins Organizations: New, New York CNN, Guild, SAG, CNN, Labor, , Warner Bros, Warner Bros ., Star, Walt Disney Studios, Disney, Box, showtime, Century Entertainment, Writers Guild of America, Pixar, Marvel, Industry Locations: New York, United States,
It’s interesting to me that the equity market is cheering the idea that the Fed is going to be cutting rates. There tends to be a fine line between cutting rates and extending the economic cycle or cutting rates because the cycle is coming to an end (and the economy is softening). When the Fed is cutting rates, it’s cutting rates because a recession is about to happen, right? That’s why I say there’s a fine line between the Fed cutting to extend the cycle and the Fed cutting because a recession is about to happen. The Fed has been in this precarious space where they’re trying to avoid recession while lowering interest rates.
Persons: Dow, stoking, Bell, Tom Porcelli, Jerome Powell, Jay Powell, they’re, that’s, Donald, Goofy, Eva Rothenberg, Mickey Mouse, Snow White, Captain Hook, , Kate Shindle, , Uber, Lyft, Jamie Long, Read Organizations: CNN Business, Bell, New York CNN — Markets, Federal Reserve, Fed, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Uber, Democratic, Minneapolis City Council Locations: New York, Anaheim , California, Minnesota, Minneapolis
Disneyland character performers vote to unionize
  + stars: | 2024-05-19 | by ( Eva Rothenberg | ) edition.cnn.com   time to read: +2 min
Equity described the vote as “a landslide victory,” with 953 cast members favoring unionization and 258 opposed. There are more than 21,000 Disneyland “cast member” employees, who are represented by more than a dozen unions. “Whatever the outcome, we respect that our cast members had the opportunity to have their voices heard,” the spokesperson said. On the other side of the country, Disney World character actors have been represented by Teamsters since the 1980s. Today, Equity estimates they represent around 800 cast members at Disney World.
Persons: Donald, Goofy, Mickey Mouse, Snow White, Captain Hook, , Kate Shindle, Organizations: New, New York CNN, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Walt Disney, , CNN, Disneyland Resort, Teamsters Locations: New York, Anaheim , California, Orlando , Florida
New York CNN —Minnesota government officials have struck a deal with rideshare companies Uber and Lyft to set minimum wage standards for drivers, lawmakers announced Saturday night. The rule was delayed after Lyft and Uber warned they would leave Minneapolis. State lawmakers have been focused on compromising with the companies before a July 1 deadline. Under the new agreement, the statewide minimum wage rate for rideshare drivers will be $1.28 per mile and $0.31 per minute. “We applaud the tens of thousands of riders & drivers who sent close to 100,000 emails to legislators — your voices were heard.
Persons: Uber, Lyft, Jamie Long, ” Long, , Erin Murphy, Josh Gold Organizations: New, New York CNN, Minnesota, Democratic, Minneapolis City Council, Governor Locations: New York, Minnesota, Minneapolis, State
New York CNN —Universities across the United States have adopted a number of tactics in recent weeks to prevent disruptions by pro-Palestinian protesters at graduation ceremonies. Some universities have reached agreements with on-campus demonstrators, while others have cited safety concerns and canceled, postponed or relocated their schoolwide ceremonies. Several schools continue to grapple with pro-Palestinian protesters ahead of their spring commencement, subjecting themselves to internal scrutiny and public criticism. Friday’s arrests follow the arrest of at least 33 people on May 10 when law enforcement broke down a pro-Palestinian encampment erected on campus. Biden is expected to deliver a commencement address at the United States Military Academy at West Point on May 25.
Persons: Fisher, Bennet, Monday’s, Gene Block, counterprotesters, , grievously, Andrea M, Kasko, , Etienne Laurent, Mildred García, Mike Lee, , Lee, ” Lee, García, ” Morehouse, David A, Thomas, Joe Biden’s, ” Thomas, CNN’s Victor Blackwell, Biden Organizations: New, New York CNN — Universities, University of Pennsylvania, CNN, Penn, Occupation, UCLA, Senate, University of California, California State University System, Sonoma State University, Justice, , Morehouse College, Morehouse, George Mason University, United States Military Academy, West Locations: New York, United States, Palestine, Gaza, Israel, Sonoma State, Los Angeles, University of California Los Angeles, Atlanta, Virginia
Darlington and Scheffler had arrived at the course around the same time in preparation for the tournament. In a video posted on X an hour later, Darlington follows the police officers as they lead Scheffler away. He’s going to jail and there’s nothing you can do about it.” one officer told Darlington, referring to Scheffler. “The police officers around the patrol car in which Scottie Scheffler was in had no idea he was even Scottie Scheffler,” Darlington clarified on air. Attorney Steve Romines, who represents Scheffler, told CNN affiliate WLKY that the golfer bypassed police because of a misunderstanding.
Persons: Jeff Darlington, Scottie Scheffler, Scheffler, Darlington, , , Dave Fleming, ” Darlington, ” Scheffler, He’s, Steve Romines, , they’d, ” Romines Organizations: New, New York CNN, ESPN, PGA, Darlington, CNN, Louisville Metro Department of Corrections, WLKY, Valhalla Golf Locations: New York, Louisville , Kentucky, Scheffler, Valhalla, Darlington, Jefferson County
Paul McCartney has added another feather in his cap as the United Kingdom’s first billionaire musician, the Sunday Times reported in the 2024 edition of its annual Rich List, published Friday. According to the Times, the 81-year-old Beatles alum and his wife Nancy are worth £1 billion ($1.3 billion), up from £950 million ($1.2 billion) in 2023. Beyoncé earlier this year released her hit album “Cowboy Carter,” in which she reimagined the Beatles’ 1968 song “Blackbird,” originally written by McCartney. McCartney has released some music of his own over the past year: Last November, the Beatles released the chart-topping “Now and Then,” advertised as the group’s final song. McCartney famously sang that he doesn’t care too much for money, but the new album’s release is expected to give the rock star’s net worth another boost.
Persons: He’s, Paul McCartney, Nancy, Cowboy Carter, , McCartney, John Lennon’s, George Harrison’s, Ringo Starr’s Organizations: New, New York CNN, Kingdom’s, Sunday Times, Times, Billboard, Beatles, Wings Locations: New York, , Glastonbury
The best fashion at Cannes Film Festival so far
  + stars: | 2024-05-16 | by ( Leah Dolan | ) edition.cnn.com   time to read: +2 min
Gisela Schober/German Select/Getty ImagesGreta Gerwig in Armani Privé, May 15. Gisela Schober/German Select/Getty ImagesAnya Taylor-Joy in Dior couture, May 15. Gisela Schober/German Select/Getty ImagesSabrina Dhowre Elba in Fendi couture, May 15. Lionel Hahn/Getty ImagesJuilette Binoche in Dior couture, May 14. Gisela Schober/German Select/Getty ImagesMeryl Streep in Dior couture, May 14.
Persons: “ Barbie, Greta Gerwig, Lily Gladstone, James Bond, Eva Green, Juan Antonion Bayon, Ebru Ceylan, Francis Ford Coppola’s, , , Adam Driver, Aubrey, Mad Max, Anya Taylor, Lanthimos, Emma Stone, Hunter Schafer, Joe Alwyn, Margaret Qualley, Keke Palmer, We’ve, Taylor, Joy, Naomi Campbell, Pascal Le Segretain, Chanel, Gisela Schober, Armani Privé, Sabrina Dhowre Elba, Ernesto Ruscio, Cindy Bruna, Samir Hussein, Vicky Krieps, Lionel Hahn, Meryl Streep, Dior, Mike Marsland, Neilson Barnard Organizations: CNN, haute, Getty Locations: Spanish, Turkish, France, Armani, couture, Fendi couture, Laruicci, Bottega Veneta, Dior couture, Gucci, Maison Margiela
CNN —Robert F. Kennedy Jr.’s running mate, Nicole Shanahan, says their campaign supports federal limits restricting abortion access “between 15 and 18 weeks” of gestation, the latest statement on the issue after the campaign walked back recent comments made by Kennedy in opposition to government limits on abortion. “The campaign stance right now is very much, you know, looking at terms and limits, and the campaign very much supports limits on abortion,” she said. Kennedy said in a podcast interview released last week that he opposes any government limits on abortion access. In the new interview, Shanahan also expressed support for individual states deciding on abortion access, echoing Kennedy’s skepticism of the federal government regulating health care. But she said she’s concerned state-level abortion restrictions could make the issue “over-politicized.”“I think that the trend towards, you know, states making these decisions is good.
Persons: Robert F, Kennedy Jr, Nicole Shanahan, Kennedy, Shanahan, Cartier, , Wade, – Kennedy, affirmatively, Susan B, Anthony Pro, ” Angela Stanton King, Kennedy’s, Stanton King, ” Kennedy, Roe, Lis Smith, it’s, Robert Kennedy Jr, ” Smith, Smith, , ” Shanahan, “ Let’s, “ women’s, CNN’s Eva McKend Organizations: CNN, Democratic National Committee Locations: Roe, Alabama, North Dakota
In New York, a similar but limited pilot program called “B-Heard” dispatches EMTs and trained mental health responders to some emergency calls. 2 minutes, 4 gunshots, and a young life cut shortRozario was in the throes of an apparent mental health crisis when he called 911 on March 27. Another vision for crisis interventionRozario wasn’t the first New Yorker to die at the hands of police while experiencing a mental health crisis. Community Access, a non-profit supporting people with mental health concerns in New York, says at least 26 New Yorkers experiencing mental health crises have been shot and killed by police since 2007. “No mother should have to go through the pain I’m going through,” Rozario’s mother said.
Persons: CNN —, ” Notan Eva Costa, , ” Costa, , general’s, Win Rozario, Rozario, EMTs, Loyda Colón, Utsho, “ Tell, Colón, ” Colón, Michael Alcazar, Kawaski Trawick, Deborah Danner, Mohamed Bah, Jeremy Gates, Evan Thompkins, ” Arvind Sooknanan, Sooknanan, Ken Zimmerman, Fountain, they’ve Organizations: CNN, New, New York City, Rozario, NYPD, Justice, John Jay College of Criminal, Eugene Police Department, White Bird Clinic, , STAR, Fountain House Locations: Queens, New York, New York City, Eugene , Oregon, Denver , Colorado, South Dakota, Rozario, Alcazar, Eugene, Springfield , Oregon, Colorado, Denver, Fountain
New York CNN —A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8. “Consumers will shoulder $800 million in late fees every month that the rule is delayed — money that pads the profit margins of the largest credit card issuers. The new rule would apply to large credit card issuers — those with more than 1 million accounts. The push to target credit card fees is part of the Biden administration’s efforts to ease financial burdens for many Americans. The new rule also intended to close a 2010 loophole the CFPB says has been “exploited” by credit card companies to hike fees on late payments.
Persons: Mark T, Pittman, Donald Trump, , Chuck Bell, Biden Organizations: New, New York CNN, Biden, US, Chamber of Commerce, Consumer Financial, CNN, of Commerce, Consumer Locations: New York, Fort Worth , Texas
CNN —Three flight attendants are winning praise for successfully defusing a physical fight between two passengers on board an EVA Air flight. That’s when three female flight attendants stepped in to handle the situation, says EVA. “The company has always adopted a zero-tolerance policy towards incidents of passenger nuisance,” EVA told CNN in the statement. Following the incident, EVA publicly expressed its “sincere gratitude” to its employees and vowed to look into the incident further. That same year, EVA reversed its policy of only hiring women as flight attendants and said it would hire men as cabin crew members too.
Persons: BR08 Organizations: CNN, Wednesday, San Locations: Taipei, San Francisco, Taiwan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Shopify, Anheuser-Busch InBev SA, & Electronic ArtsEva Ados, ERShares COO and chief investment strategist, joins CNBC's 'Power Lunch' to discuss investment plays for three stocks: Shopify, Anheuser-Busch InBev SA, and Electronic Arts.
Persons: Electronic Arts Eva Ados Organizations: Anheuser, Busch InBev SA, Electronic Arts
Many AI adult influencers have turned to OnlyFans competitor Fanvue to monetize their content. MySentient has been investing in creating "sentient" AI chatbots based on people that range from adult creators like Amouranth to Jesus. Elaina St James has used different AI tools to generate images of herself in different contexts and outfits. To create these characters, they use a variety of AI tools, including Unstable Diffusion, an AI image generator that focuses on NSFW content. Others see the power of AI but also the issues it could create for the adult industry as a whole.
Persons: Riley Reid, Ana Levy, Isla Moon, Jada Sparks, Fanvue, it's, OnlyFans, Fortune, Riley Reid's Clona, immortalize, Riley, MySentient, Amouranth, Jesus, Reese Leysen, Leysen, We've, Robert Weiss, that's, she'd, James, Elaina, James Level, , Eva AI, MyClub.ai, Eva, MyClub, Jessica Moore, Elaina St James, St James, Zoe Fox, Aika Kittie, Margot Robbie, Influencer Sophie Annaston, she's, Sophie Annaston, who's, It's, Charles Lyle Organizations: Business, MyClub, AVN, Media Locations: Philippines, India, Pakistan, Canada, Spanish, Fanvue, Lipa
Buffett will appear for the first time without his longtime business partner and friend Charlie Munger, who died in November. In 1978, Munger joined Berkshire Hathaway as vice-chairman and sat by Buffett’s side, quick with a quip or a sage piece of advice. Berkshire’s operating profits are expected to increase by 21% to $6,702 per Class A share, according to the FactSet estimates. Berkshire Hathaway reported a significant uptick in fourth-quarter operating earnings, which totaled $8.5 billion, up from $6.6 billion, or a 28% increase from a year ago. For the year, operating earnings rose to $37.3 billion, after setting a record of $30.8 billion in 2022.
Persons: Warren Buffett, Buffett, Charlie Munger, Greg Abel, Ajit Jain, Munger’s, Munger, , , Charlie, Berkshire Hathaway, “ Charlie, Abel, Greg, ” Buffett, “ Greg Organizations: New, New York CNN, Berkshire Hathaway, Oracle, , Berkshire Locations: New York, Woodstock, Nebraska, Berkshire, Omaha, “ Berkshire, The Omaha , Nebraska
Read previewEva Mendes, 50, thinks it's a good thing she had kids later in life. Mendes spoke about motherhood and aging in an interview with People and shared that she didn't have the confidence to raise children in her 20s. I definitely could not have raised kids in any other era of my life but now," Mendes said. AdvertisementShe added that while her decision to have kids later in life caused a lot of buzz, she has no regrets. Mendes isn't the only celebrity who decided to have children later in life.
Persons: , Eva Mendes, it's, Mendes, Esmeralda, Ryan Gosling, Gosling, Mendes isn't, Hilary Swank, Naomi Campbell, Sofia Vergara, Joe Manganiello, Griselda, I'm, Vergara Organizations: Service, Business
Cardboard stands with the AfD logo lie on the chairs in the Wiesenhalle before the start of the AfD Brandenburg state party conference. Traditionally, young voters are seen as more left-leaning, but the voting data suggests some divergences, with experts pointing to social media and what they describe as online echo chambers. A study published earlier this month showed that over half of those aged 14-29 in Germany use social media to stay updated about news and politics. But Berendsen told CNBC that it is one of the social media platforms where the tunnel-effect can be an issue. An AfD spokesperson confirmed to CNBC that its videos and texts posted on social media are tailored to young people.
Persons: Monika Skolimowska, Infratest Dimap, Eva Berendsen, Anne Frank, Baerbock, Maximilian Krah, TikTok, Berendsen Organizations: Getty, Russia, Anne, CNBC Locations: Hesse, Germany
New York CNN —President Joe Biden praised the United Auto Workers and Daimler Truck for reaching a tentative in the eleventh hour Friday night, preventing a potential strike affecting 7,300 workers. Daimler is a major manufacturer of trucks and buses, responsible for producing Thomas Built buses, one of the most popular brands of school buses in the United States. CNN has reached out to Daimler Truck for comment. The tentative agreement comes on the heels of increased momentum for the UAW. The subsequent contract negotiations won record pay increases for UAW members at the three companies.
Persons: Joe Biden, ” Biden, Shawn Fain, Thomas Organizations: New, New York CNN, United Auto Workers, Daimler, UAW, Facebook, CNN, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, , Motors, Ford Locations: New York, United States, Chattanooga , Tennessee, Vance , Alabama, Tuscaloosa
The property, situated in Brentwood, was designed by Craig Ellwood and is known as the "Zimmerman House." Craig Ellwood, Zimmerman House (Los Angeles, Calif.), 1953. The Zimmerman HouseLiving room of the Zimmerman House designed by Craig Ellwood (Los Angeles, Calif.), 1953. Getty Research Institute, Los Angeles (2004.R.10)The Zimmerman House was a 2,770-square-foot home named after its first owners, Martin and Eva Zimmerman. The Eichler Network, a website focusing on midcentury modern homes in California, has shared photos of what appears to be the leveled Zimmerman House.
Persons: , Chris Pratt, Katherine Schwarzenegger, Craig Ellwood, Zimmerman, Pratt, Schwarzenegger, Robb, Ellwood's, Erin Ellwood, that's, Julius Schulman, J, Paul Getty, Maria Shriver, Ken Ungar, Ellwood, Martin, Eva Zimmerman, Garrett Eckbo, could've Organizations: Service, Business, Los Angeles Times, Paul Getty Trust, Getty Research Institute, Los, Hollywood, Eichler Network Locations: Los Angeles, Brentwood, Calif, California
One of the architects of that plan for a Trump second term said as much in a video last year for the Heritage Foundation. Reissuing Schedule F is part of a roadmap, known as Project 2025, drafted for a second Trump term by scores of conservative groups and published by the Heritage Foundation. The new rules would not fully block reclassifying workers in a second Trump term. Greene said she worries for federal workers who might face the same choice in a second Trump term. The project includes a personnel database for potential hires in a second Trump administration.
Persons: Donald Trump, it’s, , Trump, Joe Biden, Donald Moynihan, Georgetown University's, ” Donald Moynihan, ” Moynihan, “ It’s, , Russell Vought, , you’re, Doreen Greenwald, Moynihan, Kenneth Baer, Barack Obama, ” Kenneth Baer, Peter Orszag, Pete Souza, Robert Shea, Eva Shea, George W, Bush, Laura Bush, Tina Hager, ” Biden, Baer, George Frey, ” Trump, Max Stier, Verna Daniels, ” Daniels, Catherine Greene, ” Greene, Tom Bewick, NIFA, ” Bewick, we’ll, Greene, Biden, “ We’ve, He’s, Hillary Clinton, he’d, James Comey, Bill Barr, Barr, Jeffrey Clark, Clark, Mark Meadows, Stephen Miller, Peter Navarro, he’ll Organizations: CNN, United, Republican, Democratic, Trump, , Georgetown, Georgetown University's McCourt School, Public, Georgetown University, Heritage Foundation, Management, Budget, of Justice, FBI, Environmental Protection Agency, Vought, National Treasury Employees Union, OMB, White, Personnel Management, Land Management, Department of Agriculture, Kansas City, Partnership for Public Service, Government, Office, GAO, Economic Research Service, National Institute of Food, Agriculture, USDA, National Institute for Food, NIFA, Applied Economics Association, BLM, Getty, Department of Justice, Justice Department, Univision, Justice, Department, U.S . Justice, Center, Washington Post, National Security and Intelligence, of Homeland Security, of Education and Commerce, Federal Communications Commission, Federal Trade Commission Locations: United States, Washington, Georgetown, , Colorado, DC, Kansas, Colorado, Virginia, America, Grand Junction, Washington ,, New York City, New York, Georgia
Three-Stock Lunch: Snap, Exxon & Colgate
  + stars: | 2024-04-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Snap, Exxon & ColgateEva Ados, chief investment strategist at ERShares, joins 'Power Lunch' to discuss plays for three stocks, including Snap, Exxon, and Colgate.
Persons: Colgate Eva Ados Organizations: Exxon, Colgate
The October report found that around 13% of Americans reported economic hardship over the prior year due to climate change. Climate change could cost Americans born in 2024 nearly $500,000, due to higher taxes and pricier housing and food, among many other factors, ICF, a consulting firm, recently found in a report commissioned by Consumer Reports. Stan Honda | AFP | Getty ImagesOther health effects of climate change reflect more widespread shifts in global conditions. "There are clear interactions between heat waves and health conditions," said Charles Driscoll, a professor at Syracuse University who studies climate change. Climate change leads to droughts, which lead to crop failures, which cause food price spikes.
Persons: Chandan Khanna, Andrew Rumbach, Eva Marie Uzcategui, Wagner, Rumbach, Stan Honda, Charles Driscoll, Driscoll, Ringo H.W, Chiu, Mark Kantrowitz, Gernot Wagner Organizations: AFP, Getty, U.S . Department of, Treasury, Consumer Reports, Urban Institute, Bloomberg, U.S . Census, Insurance, Swiss Re Institute, Health, Natural Resources Defense, Syracuse University, International Labour Organization, Kaiser Family Foundation, of Labor Statistics, Columbia Business Locations: Fort Lauderdale , Florida, U.S, Fort Myers Beach , Florida, Florida , Louisiana, California, Hurricane, Queens, New York, Malibu, Malibu , Calif
The new class war: A wealth gap between millennials
  + stars: | 2024-04-26 | by ( Robert Frank | ) www.cnbc.com   time to read: +2 min
The wealth gap between rich millennials and the rest of their age group is the largest of any generation, creating a new wave of class tension and resentment, according to a recent study. According to the study, the average millennial has 30% less wealth at the age of 35 than baby boomers did at the same age. Yet the top 10% of millennials have 20% more wealth than the top baby boomers at the same age. The study finds that millennials — typically defined as those between the age of 28 and 43 today — have faced repeated financial headwinds. The millennials who "went to college, found graduate level jobs, and started families relatively late," ended up with "higher levels of wealth than Baby Boomers with similar life trajectories," according to the report.
Persons: Robert Frank, Rob Gruijters, Zachary Van Winkle, Anette Eva Fasang, Mark Zuckerberg, Sam Altman — Organizations: Boomers
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