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☆ Milwaukee-based retail giant Kohl's says 'No' to sponsoring Republican convention events
▼ + stars: | 2024-06-06 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Milwaukee based department store giant Kohl's says it will not sponsor any events related to the Republican National Convention in that city this summer, where Donald Trump will be crowned the party's nominee for president. Northwestern Mutual is on the host committee and its CEO John Schlifske is reportedly helping to raise money for the group. The absence of Kohl's from the list of Republican convention sponsors notable, given that convention organizers have publicly touted the importance of Wisconsin-based companies helping to fund and organize the event. The Republican convention is aiming to raise roughly $70 million. Representatives for the Republican National Committee and the Milwaukee host committee did not return requests for comment.

Persons: Donald Trump, ManpowerGroup, John Schlifske, Joe Biden, Kohl's, Herb Kohl, Reince Priebus, Wisconsin's, Macy's, It's, CNBC's Melissa Repko Organizations: Republican National Convention, CNBC, Metropolitan Milwaukee Association of Commerce, Fortune, RNC, DNC, Democratic, Convention, Northwestern Mutual, Trump, Wisconsin, Republicans, Democrats, Republican, Republican National, GOP, FEC, Wall Street Journal, Republican National Committee, Target Locations: Miami , Florida, Milwaukee, Brew, Wisconsin

☆ Why lifestyle creep can cause HIFIs to spend 'every cent they make,' according to a financial planner
▼ + stars: | 2024-06-06 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Inflation and the rising cost of living in the US are partially to blame for HIFIs precarious financial situation. HIFIs' spending psychology comes from wanting to belongKnox said that there's often a disconnect between how much money HIFIs make and how much they can afford to spend. Much of HIFIs' spending psychology comes from wanting to belong, Knox said. People want to be able to afford the same clothes or concert tickets as their friends and family, so they keep spending money. AdvertisementSmall spending changes can boost future wealthMany people underestimate how much small spending changes can impact their overall wealth, Knox said.

Persons: —, HIFIs, Zers, Natasha Knox, Knox, there's Organizations: Service, DINKs, Sherwood News, Business, Financial, Bureau of Labor Statistics Locations: Sherwood

☆ Craft cocktails, mountain bikes and art: Walmart's hometown is booming, and getting more expensive
▼ + stars: | 2024-06-06 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +13 min

— When Gil Curren's family moved into a run-down farmhouse in Walmart's hometown of Bentonville, Arkansas, in 1971, the now-retail giant wasn't yet a decade old. Craft cocktails, hipster coffee shops and chef-driven restaurants have popped up around the city. Realtor Kristen Boozman, who works for Sotheby's, helps clients search for homes in the Bentonville area, including many buyers who are relocating from another city. Home values have shot up in the Bentonville area. A Walmart spokeswoman said the Walton Family Foundation funds and advocates for affordable housing projects in the Bentonville area.

Persons: Gil Curren's, it's, Sue, Gil Curren, Melissa Repko, Hunt, Tyson, Shawn Baldwin, Sam Walton, Walton, Walton's, Steuart, Tom Walton, Sam Walton's, Alice Walton, Bridges, She's, Crystal Bridges, Kristen Boozman, There's, Donna Morris, Morris, Tracy Robinson, she's, CNBC Tracy Robinson, Robinson, Stanley, Matthew Cooper, Tom, Cooper, he's, district's, It's, Jeff Webster, Bentonville Shawn Baldwin Organizations: Cyclists, Kansas City, CNBC, Walmart, Craft, Fortune, Tyson Foods, PepsiCo, Hershey, Mattel, . Census, Cushman &, Sage Partners, of Commerce, Northwest Arkansas Council, D.C, Ropeswing Hospitality, Bentonville Schools, Excellerate Foundation, Walton Family Foundation, Walton Family, Bentonville Locations: BENTONVILLE, Ark, Walmart's, Bentonville , Arkansas, Bentonville, Kansas, Austin , Texas, New York, U.S, Silicon, It's, Arkansas, Cushman & Wakefield, American, Crystal, Austin, Boise , Idaho, Dallas, Fort Worth, Atlanta, Toronto, New York City, Miami, Washington, New York City , Washington, Bentonville's

☆ The tattoo industry is facing a reckoning, with customers fed up with bad artists, overpricing, and sexism
▼ + stars: | 2024-06-05 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Jason John Miles, a tattoo artist and content creator, said the industry is in a "bad state." According to data from Fortune Business Insights, the tattoo industry is expected to reach $3.92 billion by 2030. "Consumers are less likely to put up with bullshit from tattoo artists and tattoo shops," Dominique said. There are tons of good male tattoo artists, she said, and there is still a market for them. Despite the current challenges, artists who spoke with BI said they were hopeful about the tattoo industry.

Persons: —, Jason John Miles, Jason Barry Hua, Hua, Allan Buhl, we've, Buhl, they've, Dominique, They're, Statista, Gen Zers, There's, Courtney Monteith, overcharged, they're, Elaine, Kee Kee James, Mikhaila Friel Organizations: Service, Business, Pew Research Center, Fortune Business, birmingham, BI Locations: New York, United States, Florida

☆ How a humble Indian fabric became a symbol of luxury in 1960s America
▼ + stars: | 2024-06-05 | by ( Christy Choi | ) edition.cnn.com time to read: +9 min

But this staple of preppy American fashion has humble origins, far from Martha’s Vineyard or the hallways of Yale or Harvard, in Chennai, India, the coastal city from which it takes its name. Krishnan Nair,” a biography of the Indian textile magnate and hotelier who first sold Jacobson the madras, in a video interview with CNN. From Chennai to shores of the CaribbeanFort St. George was established in the 1630s, helping the British cement a monopoly on the highly lucrative Indian textile industry. Research by the London School of Economics estimates that Indian cotton textiles, which were often exchanged for slaves, accounted for 30% of the total export value of 18th century Anglo-African trade. A madras fabric weaving workshop in Chennai, the Indian city once known as Madras, circa 1990.

Persons: Lisa Birnbach’s “, Ralph Lauren, Brooks, William Jacobson, ”, Bachi Karkaria, Captain C.P, Krishnan Nair, Jacobson, Tony Cenicola, Karkaria, — Nair, “, ’, David Ogilvy, Leonard McCombe, Nair, Ogilvy, Elihu Yale, George, Hathaway, India Madras ”, Eli Yale, King George I, Hathaway Yale, Yale, Kai Toussaint Marcel, Marcel, Tommy Hillfiger, Kimberly M, Jenkins, Patrick Horvais, madras “ Organizations: CNN, Brooks Brothers, Yale, Harvard, New York Times, Milton Academy, madras, Ivy League, East, Yale College, Yale University, Yale . Yale, East India Company, Metropolitan Museum of Art, Parsons School of, London School of, Princeton, Miss College, Sports Locations: madras, Bahamas, Chennai, India, Madras, West Africa, Milton , Massachusetts, superstardom, East India, Fort St, India Madras, Scottish, North Africa, Nigeria, America, Caribbean, St, West Indies, England, France, New Orleans, East Coast, Bermuda, madras Bermuda, Rhode Island, Newport, South Florida, Palm, Fisher

☆ 4 things to do as soon as layoff rumors hit the office, according to an HR professional with 20 years' worth of experience
▼ + stars: | 2024-06-04 | by ( Alyshia Hull | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to essay is based on a conversation with Leigh Henderson, a 42-year-old CEO of HR Manifesto, in San Antonio. I worked as an HR leader for nearly 20 years, supporting a handful of Fortune 100 organizations. Then after navigating a shocking layoff myself, I started HR Manifesto, a community on TikTok. AdvertisementAfter working in HR, here are four things I'd tell my friends to do if they heard rumors of layoffs happening in their office. AdvertisementIf you're an HR professional with advise on how to navigate the workplace during difficult times, and want to share your story, email Manseen Logan at mlogan@businessinsider.com.

Persons: —, Leigh Henderson, there's, you've, it's, what's, Manseen Logan Organizations: Service, Business, HR Locations: San Antonio, TikTok, mlogan@businessinsider.com

☆ My grandma couldn't remember my name because of dementia. It really hurt even though I know it wasn't her fault.
▼ + stars: | 2024-06-04 | by ( Nandini Maharaj | ) www.businessinsider.com time to read: +6 min

When I was 16, my grandma started to forget things like turning off the stove and mistaking sugar for salt. Memory loss is one of the earliest symptoms of dementia and is often noticed first by other people besides the affected individual. My mom would visit my grandma daily while my sister and I accompanied her on weekends. It struck me that, although she couldn't remember my name, she never forgot about the value of getting an education. Despite everything, some memories remain intactThe weekend before my 17th birthday, my grandma was receiving palliative care at a hospital for pneumonia.

Persons: —, Anand, it's, Nandini, it's Nan, I've, Nandini Maharaj Organizations: Service, Business, CDC Locations: cardigan, Trinidadian

☆ How AI could supercharge the Vision Pro
▼ + stars: | 2024-06-04 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

It could also boost sales of the pricey Vision Pro, which has reportedly and unexpectedly received a production cut. During its most recent earnings call, CEO Tim Cook said more than half of the Fortune 100 companies have already bought an Apple Vision Pro. But while it’s unclear when generative AI will come to the Vision Pro, Nygugen said: “It’s only a matter of time.”That’s because the Vision Pro is merely just another interface – much like a tablet, laptop, or watch, that touches Apple’s ecosystem. The Vision Pro, the tech giant's $3,499 headset, is its first major release since the Apple Watch nine years ago. “Vision Pro just came out a few months ago and it needs to get its feet under it before it really starts to take off,” Llamas said.

Persons: it’s, Tim Cook, It’s, Siri, “, Tuong, ”, Nygugen, ” Nygugen, Angela Weiss, Ming Chi, Kuo, Jeremy Bailenson, Bailenson, Ramon Llamas, Apple, ChatGPT – Organizations: CNN, Developers, Google, Samsung, Vision, Fortune, Apple Vision, Gartner, Apple, Apple Watch, Getty, Vision Pro, Stanford, VR, IDC, Microsoft, “ Locations: Cupertino , California, New York City

☆ How the Astor family became an American dynasty
▼ + stars: | 2024-06-03 | by ( Rob Wile | Talia Lakritz | ) www.businessinsider.com time to read: +1 min

John Jacob Astor built his fortune in the fur business and New York real estate. John Jacob Astor III and William Backhouse Astor Jr. cofounded the Waldorf-Astoria after a feud. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . To this day, the Astors' money and influence still make waves in society. This story is available exclusively to Business Insider subscribers.

Persons: John Jacob Astor, John Jacob Astor III, William Backhouse Astor Jr, Astor, —, you've Organizations: Waldorf, Astoria, Service, Yorker, Business Locations: New York, Astoria, Queens

☆ Trump campaign and RNC say they raised $141 million in May
▼ + stars: | 2024-06-03 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Former President Donald Trump's campaign and the Republican National Committee announced Monday that the two entities together raised $141 million in May. The Trump campaign said it raised $34.8 million in less than seven hours after the New York jury's verdict was announced. The Trump campaign said that accounts for just over 37% of their May haul. Therefore, I am supporting former President Trump in this coming election," Leone said in a post on X. To date, according to the official records, Trump's campaign has raised $120 million in the 2024 election cycle, while Biden's campaign has brought in $195 million, according to data from OpenSecrets.

Persons: Donald Trump, Donald Trump's, Trump, Joe Biden's, Stormy Daniels, Doug Leone, Leone, Donald J, Susie Wiles, Chris LaCivita, Biden Organizations: U.S, Republican, Republican National, Trump, RNC, The Trump, Trump . Venture, Capitol Locations: Windham , New Hampshire, York, OpenSecrets

☆ America's richest self-made woman went from $900,000 in debt to billionaire—without a college degree
▼ + stars: | 2024-06-01 | by ( Megan Sauer | ) www.cnbc.com time to read: +1 min

This week, Hendricks topped Forbes' recent American's Richest Self-Made Women list for the seventh consecutive year. Her estimated $20.9 billion net worth comes largely from her roofing materials company ABC Supply, which she co-founded with her late husband Ken Hendricks in 1982. Roofers often bought directly from individual manufacturers, locking them into an ecosystem and allowing manufacturers to drive up prices. They took out a $900,000 loan from Beloit Savings Bank and pledged everything they owned to launch their company and fill that gap, Hendricks said. "We felt like we [roofers] weren't being treated with respect," said Hendricks.

Persons: Diane Hendricks, Hendricks, Ken Hendricks, Ken, Forbes, Roofers Organizations: Forbes, ABC Supply, Beloit Savings Bank

☆ I became a millionaire at 21 after winning the lottery. It changed my life, but I sometimes felt like a walking ATM.
▼ + stars: | 2024-06-01 | by ( Kitti Palmai | ) www.businessinsider.com time to read: +8 min

Read previewThis as-told-to essay is based on a transcribed conversation with Timothy Schultz, who won the Powerball Lottery in 1999. A few months before I won the $28 million Powerball jackpot, I had a vivid dream that I'd already won. I immediately remembered telling several people I had the winning ticket the night before. A family member explicitly told me I got something for nothing by winning the lottery and should keep giving them and others money. I also started my "Lottery, Dreams and Fortune" podcast where I interview other major prize and lottery winners.

Persons: —, Timothy Schultz, I'd, you've, we'd, I've, I'm Organizations: Service, Business, YouTube Locations: Iowa, Canada, bitcoin

☆ 42-year-old left her job in marketing to become a 'breakup coach'—her first book deal was worth 6 figures
▼ + stars: | 2024-05-31 | by ( Gili Malinsky | ) www.cnbc.com time to read: +4 min

The 42-year-old Vancouver native started sharing her relationship experience at 25 when she wrote a Myspace post about a recent breakup. Chan now leads multiple relationship bootcamps per year, is working on her second relationship book and has various online brand deals. "And they basically say, like, 'look, no one owns the breakup space,'" Chan says. It took one final push for her to finally dive into the relationship space full time. Her mom emphatically said yes, and Chan left her job in August 2017.

Persons: Amy Chan, —, Chan, Amy Fabulous, …, Nick Jonas, Ali Wong Organizations: Vancouver, Simon Fraser University, Hours Vancouver, Heart Hackers, Post, Fortune, United Talent Agency, UTA Locations: Vancouver, Canada, San Diego, New York

☆ Loyalty at work no longer pays — and it's employers who are to blame
▼ + stars: | 2024-05-31 | by ( Steven Piluso | ) www.businessinsider.com time to read: +7 min

I got an early impression of what company loyalty was supposed to beAfter college graduation at age 22, I got my first job at an advertising agency. And you didn't worry about jumping around for money; if you took care of the company, they'd take care of you and your family." AdvertisementHe gave them 40+ years of his life, and in return they took great care of him. The broken loyalty contract between employers and workers can be repairedIs loyalty a dated and dead concept? In fact, the shift in values from Gen-X to millennials and Gen-Z creates a great opportunity to ignite loyalty.

Persons: —, I've, I'd, He'd, who'd, Gen X, Steven Piluso Organizations: Service, Business, Fortune Locations: Nantucket, Vermont

☆ The 10 richest sports owners are worth a combined $549 billion. Here's how they made their fortunes.
▼ + stars: | 2024-05-31 | by ( Cork Gaines | ) www.businessinsider.com time to read: +1 min

The 10 wealthiest sports owners collectively own 15 major sports teams. These owners include tech moguls, hedge fund managers, and heirs to massive fortunes. Forbes data highlights their diverse origins, from Walmart heirs to hedge fund managers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Today, the list of wealthiest sports team owners includes two separate heirs to the Walmart fortune, Rob Walton and Ann Walton Kroenke, along with Bill Gates' former assistant Steve Ballmer.

Persons: —, Rob Walton, Ann Walton Kroenke, Bill Gates, Steve Ballmer Organizations: Forbes, Walmart, Service, Business

political memoThe outcome of Donald Trump’s Manhattan trial on Thursday had seemed almost unthinkable to the Trump team as recently as last summer. Guilty.”When Mr. Trump got up to leave court, his face looked as if he’d been punched in the solar plexus. Mr. Trump and his allies on Capitol Hill and in conservative media assiduously prepared their audiences to be outraged, whatever the outcome. “There’s a sense of personal resentment,” added the senator, who is on a shortlist to be Mr. Trump’s running mate. He got MAGA’d yesterday,” Mr. Trump said in the hallway outside the courtroom.

Persons: Donald Trump’s Manhattan, Donald J, Trump’s, Trump, Mr, Eric, Eric Trump’s, Steve Witkoff, ” Mr, Witkoff, Adam Gray, Jack Smith, Washington, Tanya Chutkan, Manhattan, Mark Pomerantz, Alvin L, Bragg, Michael D, Cohen, “, President Biden, Stephen K, Bannon, Alvin Bragg, Emil Salman, Biden, ” Neil Newhouse, Republican pollster, ”, Newhouse, —, J.D, Vance, MAGA, Robert De Niro, De Niro, ” Ruth Igielnik Organizations: Trump, Republican National Convention, Credit, The New York Times, Democratic, Capitol, Republican, Senate, Republicans, Trump . Credit, Mr, New York Times, Quinnipiac University, “ Voters, Fox, stoke, Biden Locations: Manhattan, Florida, Georgia, New York, U.S, Trump ., Siena, Ohio, Lower Manhattan

☆ Trump Had Good Fortune So Far With His Four Cases. Then Came a Verdict.
▼ + stars: | 2024-05-30 | by ( Maggie Haberman | Jonathan Swan | ) www.nytimes.com time to read: +1 min

Donald J. Trump’s run of luck in his criminal cases has expired. Before the conviction on Thursday in Manhattan, the former president had drawn what some of his closest advisers regarded as a defense lawyer’s equivalent of an inside straight: something close to perfection. Mr. Trump had lost civil cases with costly damages, but the four criminal cases that threatened his freedom were stumbling along so badly that his advisers were often incredulous at his good fortune. In the Georgia case, the prosecutor who had charged Mr. Trump as part of a conspiracy to overturn the 2020 election was caught in a romantic affair with the man she had hired to help her prosecute Mr. Trump. And with the federal charges over his efforts to disrupt the peaceful transfer of power, the Supreme Court has significantly narrowed the chances of a trial before the election, having taken up the presidential immunity arguments put forth by Mr. Trump’s lawyers.

Persons: Donald J, Trump’s, Trump, Mr Organizations: Trump Locations: Manhattan, Florida, Georgia

☆ For some millennials, the reality of their retirement plans is that they're a fantasy
▼ + stars: | 2024-05-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The documentary chronicles the rise and fall of the movie-ticket-subscription company MoviePass, and is based on award-winning reporting from Business Insider . The big storyRetirement mathGetty Images;Alyssa Powell/BIFor some millennials, the reality of their retirement plans is that they're a fantasy. AdvertisementIt's not the first time we've gotten troubling data about millennials' retirement plans. But it's not just a lack of savings working against millennials' plans of riding off into the retirement sunset. AdvertisementAnd if you're hoping for a Hail Mary in the form of a fat inheritance to jumpstart your retirement plans, that's not looking great either.

Persons: —, MovieCrash, Alyssa Powell, Jacob Zinkula, William Edwards, we've, it's, millennials, Hail Mary, that's, Juliana Kaplan, It's, Johannes Simon, Neel Kashkari, Sam Altman, Justin Sullivan, Oliver Mulherin, Scarlett Johansson, Altman, Jensen Huang, Adam Neumann, Neumann, WeWork, Moviegoing, there's, BI's Peter Kafka, Sheryl Sandberg, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Max, Business, Hail, Reserve Survey, Consumer, Wall, Minneapolis, UBS, Google, Nvidia, BI, Hollywood, HP Locations: Swiss, BI Denmark, New York, London

☆ Opinion: It’s hard to applaud billionaires – but these few deserve recognition
▼ + stars: | 2024-05-29 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +7 min

But this is the global system we do have and, within it, some billionaires are behaving much more generously and ethically than others. Melinda French Gates is one of the good ones. French Gates has long been an advocate for family planning and women’s rights abroad, and now she’s dedicating $1 billion through 2026 to those issues. Female billionaires, in other words, are far more likely than male ones to give away substantial portions of their wealth. So yes, we can applaud the good billionaires who give their wealth away, even if we think that they are representative of a bigger inequality problem.

Persons: Jill Filipovic, —, Melinda French Gates, French Gates, it’s, She’s, Gates, MacKenzie Scott, Jeff Bezos, Scott, Forbes, Elon Musk, Larry Ellison, Warren Buffett, Larry Page, Ellison, Page, Buffett, Donald Trump’s, Sam Altman, Bill Gates, Scarlett Johansson, that’s, George Soros, doesn’t Organizations: Twitter, CNN, Gates Foundation, The New York Times, Forbes ’, Forbes, Elon, Facebook Locations: New York, United States, French, The, New Zealand, There’s

☆ Britain’s Royal Mail has been bought by Czech billionaire Daniel Křetínský for $4.5 billion
▼ + stars: | 2024-05-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —The owner of Royal Mail has accepted a £3.5 billion ($4.5 billion) takeover bid from Czech billionaire Daniel Křetínský, paving the way for the sale of one of Britain’s oldest and most iconic institutions to a foreign owner for the first time. The deal follows a torrid few years for Royal Mail, which was privatized in 2013. “Royal Mail is as British as it gets, and Labour will take the necessary steps to safeguard its undeniable identity and place in public life,” he wrote in the letter, which he posted on X. A low-profile Czech national, Křetínský made his fortune through a sprawling empire of European energy companies, retailers and football clubs. He is worth an estimated $7.7 billion, according to the Bloomberg Billionaires Index, and owns a 27% stake in West Ham United Football Club.

Persons: Daniel Křetínský, Křetínský’s, Jonathan Reynolds, ”, Křetínský Organizations: London CNN, Royal Mail, Distribution Services, Labour Party, Conservative, Labour, Royal, Bloomberg, West Ham United Football Club Locations: Czech, United Kingdom, West

☆ America’s richest self-made woman grew up on a dairy farm—now she has a net worth of $20.9 billion
▼ + stars: | 2024-05-29 | by ( Megan Sauer | ) www.cnbc.com time to read: +2 min

Today, the 77-year-old has an estimated net worth of $20.9 billion — nearly double her reported net worth from just two years ago — topping Forbes' most recent list of America's Richest Self-Made Women for the seventh year in a row. Her fortune is largely from her roofing supplies ABC Supply. ABC Supply brought in $20.4 billion in revenue last year and has more than 900 branch locations, according to Forbes. After she met and married roof contractor Ken Hendricks in the 1970s, the duo co-founded ABC Supply. The company hit $1 billion in annual sales for the first time in 1998, according to the company's website.

Persons: Diane Hendricks, Erik Prince, Hendricks, Forbes, —, I'd, Ken Hendricks Organizations: Blackwater, Beloit College, Forbes, Supply, ABC Supply Locations: Beloit, Wis, Osseo , Wisconsin, Beloit , Wisconsin

☆ Crypto.com's Exchange, Sponsorships, and Commercials, Explained
▼ + stars: | 2024-05-28 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

(That's not a knock on the company — for a lot of crypto exchanges, the Empire State is a tough nut to crack.) Crypto.com's primary business is its cryptocurrency exchange, which works as a middleman for people buying and selling crypto, but it also offers other products, including crypto Visa cards. To be sure, the casino thing could be said about most crypto exchanges — and sports-betting apps, and many regular trading apps. It's a good reminder that, whatever the company, it's better to use exchanges only for trading your crypto assets, not for storing them. Or maybe in five years we'll be looking back at this moment and saying: "Remember that one crypto company?

Persons: Eminem, Sam Bankman, Crypto.com doesn't, Jojo Siwa, it's, He'd, Nic Carter, Crypto.com, Kris Marszalek, Foris DAX Asia, It's, Matt Damon, Steven Kalifowitz, Bill Clinton, Tony Blair, FTX, hasn't, Marszalek, wasn't, Alex Gladstein, Emily Stewart Organizations: NBA, Los Angeles Lakers, It's, UFC, NASCAR, Lakers, Castle, Ventures, Staples Center, Miami Heat's, Binance's, Forbes, Financial Times, Securities and Exchange Commission, Bloomberg, PayPal, JPMorgan doesn't, Human Rights Foundation, Business Locations: New York, America, Singapore, Nigeria, Bulgaria, Monaco, Hong Kong, Polish, Los Angeles, Bahamas, Netherlands, Asia, Americas

☆ BuzzFeed Clashes With Vivek Ramaswamy
▼ + stars: | 2024-05-28 | by ( Benjamin Mullin | ) www.nytimes.com time to read: 1 min

BuzzFeed’s newest activist investor, the former Republican presidential candidate Vivek Ramaswamy, wants the company to consider moves like hiring the former Fox News host Tucker Carlson and the N.B.A. Jonah Peretti, BuzzFeed’s founder and chief executive, has already rejected some of Mr. Ramaswamy’s requests out of hand, setting up a clash between the two men. Mr. Ramaswamy, an investor who has amassed an 8.3 percent stake in BuzzFeed, sent a letter to the company’s board of directors Monday criticizing its business practices and journalistic efforts. Though he has been steadily buying up stock for months, his intentions for the company didn’t become clear until this week. Before his brief run for president, Mr. Ramaswamy made a fortune in the pharmaceutical business, selling his company’s stake in promising firms to the Japanese conglomerate Sumitomo.

Persons: Vivek Ramaswamy, Tucker Carlson, Charles Barkley, Jonah Peretti, BuzzFeed’s, Ramaswamy’s, Ramaswamy Organizations: Republican, Fox News, Sumitomo Locations: BuzzFeed

☆ Take a look inside Lyndhurst Mansion, a historic 14,000-square-foot Gothic Revival home featured in 'The Gilded Age'
▼ + stars: | 2024-05-27 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

The tour began outside the mansion, where our guide spoke about the three families that owned the property: the Pauldings, the Merritts, and the Goulds. The side of Lyndhurst Mansion. Talia Lakritz/Business InsiderIn 1836, former New York City mayor William Paulding and his wife, New York real-estate heiress Maria Rhinelander Paulding, purchased the land overlooking the Hudson River to build a summer home. In 1864, the Pauldings' son sold the mansion to George Merritt, who made his fortune as the patent holder of a rubber spring used in railroad cars, and his wife, Julia. After her death, Anna left the Lyndhurst estate to the National Trust for Historic Preservation, which manages the site today.

Persons: Talia Lakritz, William Paulding, Maria Rhinelander, Alexander Jackson Davis, George Merritt, Julia, Davis, Jay Gould, Helen Day Miller, Helen Gould, Anna Gould, Anna Organizations: National Trust for Historic Preservation Locations: Lyndhurst, New York City, New York, Maria Rhinelander Paulding, French

☆ Should Elon Musk be paid $56 billion? Tesla shareholders get to vote
▼ + stars: | 2024-05-27 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Several investors released a joint letter this month urging fellow shareholders to vote down the package as excessive. Tesla shareholders approved the pay package in 2018, with compensation tied to Tesla's performance including its market value. And he still has time to meet goals he hasn't reached, including on revenue, because the pay package had a 10-year term. In the 440-page proxy statement explaining the vote, a committee of the Tesla board noted the "novel circumstances." Some people began sharing screenshots of their votes in April, shortly after the Tesla board announced the vote, and the deadline to vote online is June 12.

Persons: Elon Musk, The Beverly Hilton, Tesla, James Park, Musk, He's, Judge Kathaleen McCormick, McCormick, Nadya Malenko, hasn't, Ann Lipton, Lipton, — I'm, Musk's, there's, —, Rowe Price, didn't, Brad Lander Organizations: SpaceX, Tesla, The Beverly, Wall Street, University of California, CNBC, Bloomberg, Reuters, Boston College's, Tulane University, Disney, New York, Amalgamated Bank . Locations: Beverly Hills , California, U.S, Delaware, Austin , Texas, —, Los Angeles, Texas, New York City

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