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☆ What you need to know about Skydance's bid for Paramount, from financing a deal worth $32 billion to its plans for the media empire
▼ + stars: | 2024-05-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Skydance Media and its largest private-equity backer RedBird Capital Partners have been wooing Paramount for the better part of a year. The Skydance consortium, including fellow Skydance investor KKR, submitted a revised offer on Sunday. The deal would be worth roughly $32 billion, according to the source, with the value of Paramount and its $15 billion in debt making up the lion's share. Here's what we know about the deal, how much Redstone would get, and what a new Paramount would look like. Keeping Paramount public sets the Skydance bid apart from Apollo's potential offer, according to one of the sources.

Persons: Bob Bakish, Shari Redstone's, Tom Cruise, Mario Gabelli, Bakish, Getty, Redstone's, David Ellison, Larry Ellison, Ellison, RedBird, Gerry Cardinale, Goldman Sachs, Goldman, Skydance, Jeff Shell, Ben Affleck, Matt Damon's, Axel Springer Organizations: Skydance Media, RedBird Capital Partners, Paramount, KKR, Business, Ex, CNBC, Apple, New York Yankees, NFL, Bakish, CBS, MTV, Nickelodeon, ' Equity, Amazon Studios, Sony, Apollo, Wall Street Locations: Santa Monica , California, New York City, Skydance, RedBird

☆ Meet the ex-Goldman Sachs partner behind the scenes of the Skydance-Paramount deal negotiations
▼ + stars: | 2024-04-30 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Read previewParamount's CEO Bob Bakish was ousted on Monday night, putting the entertainment giant one step closer to accepting a merger deal. The would-be buyer, film studio Skydance Media, is owned by David Ellison, son of billionaire Oracle founder Larry. An investor in Skydance since 2020, RedBird is the media company's largest shareholder other than the Ellison family. This story is available exclusively to Business Insider subscribers. "I think it's my biggest competitive advantage that I don't get emotionally attached," Cardinale told Business Insider in 2022.

Persons: —, Bob Bakish, David Ellison, Larry, RedBird, Ellison, Gerry Cardinale, Goldman Sachs, Jeff Shell, Skydance, " Cardinale, Goldman, Jon Winkelried, Gerry, Axel Springer Organizations: Service, Skydance Media, RedBird Capital Partners, Business, New York Yankees, Dallas Cowboys, NFL, AC Milan, Paramount, KKR, Sony, TPG Locations: Skydance, RedBird

☆ How rich are we? The wealthy families who don't prepare their heirs
▼ + stars: | 2024-04-29 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Rich families across the globe are concerned about how to prepare their children to manage their wealth, but few are doing anything about it. According to a survey by JPMorgan, 69% of ultra-wealthy families cite succession planning as a top priority. That said, she attributed some of the reluctance to many of these family offices being formed within the past 10 or even five years. "Conversations about wealth can be challenging and, in our experience, families often have found it difficult to get started," she told Business Insider. Only 15% of family offices with at least $1 billion in assets kept heirs unaware compared with 27% for firms with $50 million to $500 million.

Persons: Rich, Elisa Shevlin Rizzo, Goldman Sachs, Ackah, Edward Jones Organizations: JPMorgan, Business, Forbes, UBS

☆ Australia’s problem with male violence is getting worse. So, what’s the solution?
▼ + stars: | 2024-04-29 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +8 min

Late Monday, new figures showed a 28% jump in intimate partner homicide in 2022-23, compared to the previous year – ending what had been a decades-long trend of decline. Around 4,000 people marched through the streets of Brisbane on April 28 to call for action on gendered violence. The deaths took the toll to 27 women allegedly killed by a partner or former partner so far this year, according to the Counting Dead Women project. “We don’t have good programs for men with mental illness and personality disorders who use these types of violence. We don’t have a lot of really accessible drug and alcohol treatment programs for men who use violence.

Persons: Daniel McCormack, Daniel Sloss, “, ”, McCormack, Samantha Bricknell, we’ve, Anthony Albanese, –, Hilary Whiteman, wasn’t, Lukas Coch, Hayley Boxall, Albanese, ’, ” Albanese, ” Boxall, ” Bricknell, Emily Garnett, there’ll, ” McCormack, he’s, “ I’ve, ‘ That’s Organizations: Australia CNN, Australian, of Criminology, ”, Australia, CNN, New South, Australian National University, Wales, Nations, First Nations, Brisbane Locations: Brisbane, Australia, Scottish, Bondi, Sydney, New South Wales, Canberra, United Kingdom, Canada, New Zealand, Australian, Melbourne, England

☆ 9 ways rich real estate owners save big on taxes from putting mansions in trusts to donating rental property income
▼ + stars: | 2024-04-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +9 min

The richest 0.1% of Americans own $1.8 trillion in real estate, according to the Federal Reserve. Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. Here are nine little-known techniques that wealthy real estate owners use to pay less to Uncle Sam:Qualified personal residence trusts, better known as "QPRTs," effectively freeze the value of a real estate property for tax purposes. With an FLP, an individual — often a parent or two parents — pools their business assets, commonly real estate or stocks. The heirs don't own the trust assets, but rather have lifetime rights to the trust's income and real estate.

Persons: Uncle Sam, Trump, Sam Walton, Wrigley, Jeff Bezos, Rich, Ron Wyden, PPLI, Jackie O, I've, Edward Renn, remarries Organizations: Federal, Business, Walmart, Biden, Blackstone, Lombard, Taxpayers, IRS Locations: Trump, Florida, Wyoming, Plenty

☆ A complete timeline of Karlie Kloss and Taylor Swift's friendship
▼ + stars: | 2024-04-24 | by ( Claudia Willen | Callie Ahlgrim | ) www.businessinsider.com time to read: +40 min

Taylor Swift and Karlie Kloss became inseparable after meeting at the 2013 Victoria's Secret Fashion Show. AdvertisementThe friendship of Taylor Swift and Karlie Kloss dates back to 2013, when the musician and the supermodel met backstage at the Victoria's Secret Fashion Show. AdvertisementApril 2014: Kloss and Swift are spotted together in New York CityTaylor Swift and Karlie Kloss often spent time together in New York City. November 23, 2014: Swift brings Kloss as her date to the American Music AwardsTaylor Swift and Karlie Kloss at the 2014 AMAs. July 11, 2015: Kloss appears at another of Swift's concerts in New JerseyTaylor Swift's friends went to her concert in New Jersey.

Persons: Taylor Swift, Karlie Kloss, Kloss, —, Swift, didn't, Katy Perry, Scooter Braun, Karlie, Michael Kovac, Jamie McCarthy, Milk, Christina Tosi, Randy Brooke, we're BFFs, I'd, Raymond Hall, Kate Bosworth, Harry Josh, Charles James, Oscar de la, They're, Alo Ceballos, She's, Rolling, James Devaney, Ben Stiller, Quinlin, SoHo Taylor Swift, Jeff Kravitz, Dick Clark, Antonio de Moraes Barros Filho, WireImage Kloss, Lily Aldrige, Martha Hunt, taylor, it's, Taylor, Matty Healy, Marie Claire, Beyonce, Jay, Justin Timberlake, Sam Smith, Michael, r was, els, rais, hou, "I, ove, stor, ste, "(M, bro, K, Ma y, orr, "B, Perry, tim e, oe Jonas, maki, J ohn Shea, dow, deo, cele, Jo, hatta, lia, nce, e, hough, lor h, 2016:, Joh, Delilah, L orde, Conn, Loo, ned the photo,, y, as well, loss and Swift, Augu, rld, kee, mus, raun, cate, rau, hite, theo, abou, ody, ted in a, ike H, Derek Bl Organizations: Big, Service, Vogue, Twitter, Hollywood Life, Big Sur, daisies, Surrey, Costume, Metropolitan Museum of Art, Getty, Swift, Apple, New York Knicks, Garden, Chicago Bulls, Madison, American, New York City's, Yahoo, New, YouTube, the de, acc, Adv, ober, Wil, unc, ift, who's known Locations: Big Sur, Swift's New York, New York City, Big, Instagram, New York, Manhattan, brunching, SoHo, Madison, SoHo Taylor, June., ber

☆ What if no one wants a cheap Tesla?
▼ + stars: | 2024-04-24 | by ( Matt Turner | Hayley Peterson | ) www.businessinsider.com time to read: +6 min

Even at a lower price, say $25,000, it's a very significant purchase — likely one of the most expensive purchases a person will make. AdvertisementSo let's for a second look at why a lower ticket price might not be a panacea for Tesla. There are many other Tesla buyers, of course, but as Tesla introduces lower-cost models in search of different buyers, needs will shift. Musk and Tesla are politicizedAs Tesla looks to lure potential new buyers with a cheaper car, it will have to contend with souring consumer sentiment toward the EV maker. Maybe the pool of buyers for a cheap Tesla will be ginormous.

Persons: —, Tesla, Elon Musk, TSLA, EVs, It's, BYD, Musk, it's Organizations: Service, Business, Tesla, EV, UBS, Infrastructure, Honda Civic, Toyota, Reuters, Bloomberg, Association, Renault, Elon Locations: California, headwinds, China, India

☆ Merrill's Lindsay Hans and Eric Schimpf were thrust to the top of the $3.3 trillion wealth unit last year. Here's a look at their new playbook.
▼ + stars: | 2024-04-22 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +9 min

Thirteen months ago, Andy Sieg unexpectedly left Merrill Wealth Management to run Citi's ailing wealth unit. His replacements, Lindsay Hans and Eric Schimpf, had big shoes to fill. Hans and Schimpf were company veterans but lesser known before they were anointed to lead the $3 trillion wealth business attached to behemoth Bank of America. Schimpf is more soft-spoken than his cohead Hans, who was promoted to run the private wealth business one month before Sieg left. AdvertisementMerrill has the benefit of being part of a bank with some 69 million consumer bank clients.

Persons: Andy Sieg, Lindsay Hans, Eric Schimpf, Merrill, Hans, Schimpf, Sieg, Lindsay, it's, Sieg's, Louis Diamond, Schimpf's, Hans said, AdvisorHub Organizations: Service, Merrill Wealth Management, behemoth Bank of America, Business, Merrill, Army, UBS, Schimpf, Northeast, Merrill . Bank of America, Bank of America, Customers, Bank of, First, JPMorgan Locations: Los Angeles, Coast, New York City, Nevada, First Republic, Merrill

☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 11 senior execs have left since his arrival.
▼ + stars: | 2024-04-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Citi's wealth unit has seen at least 11 senior execs exit since Merrill Lynch veteran Sieg joined in September. The latest departure is David Bailin, chief investment officer for the global wealth division, who announced his departure on Monday. Sieg's mandate is to turn around the wealth business, which was barely profitable this past quarter. Sieg also plans to expand Citi's already successful wealth business in Asia. At least two other senior Asia executives have left.

Persons: Andy Sieg, Merrill Lynch, Sieg, David Bailin, Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merril Lynch, Don Plaus, Hale Behzadi, Citi David, Eduardo Martinez Campos, Keith Lee Hong, Fernando Lopez Munoz, Luigi Pigorni, Jeff Sutton, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Citi, Business, Bankers, Citi Wealth, Citi Global Wealth, North America, Eduardo Martinez Campos Head, Mark, Mark Mills Regional, Fernando Lopez Munoz Head, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Keith Lee Hong Kong, Mark Mills, Shyam Sambamurthy South Asia, America, West China, hcuccinello@businessinsider.com

☆ Citi's plan to turn its wealth business around: get 'low performing' bankers to meet expectations and push investment products
▼ + stars: | 2024-04-12 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAndy Sieg has been quick to make his mark on Citi's ailing wealth unit since taking over the business in September. Some of his efforts are paying off, such as pushing investment products for existing clients to reduce reliance on loans and deposits. AdvertisementIn late September, Citi promoted its North American investment head, Kris Bitterly, to a new role overseeing investments globally. Adding investment assets has become a bigger part of private banker bonuses, according to The Wall Street Journal.

Persons: —, Andy Sieg, Mark Mason, Mason, Jane Fraser, Fraser, Kris, Sieg, Hale Behzadi, Merrill Lynch, Don Plaus Organizations: Service, Revenue, Business, Citi, London, North, Wall Street

☆ 3 top personal trainers explain why they stopped taking pre-workout supplements that boost energy
▼ + stars: | 2024-04-11 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +4 min

More and more people are turning to pre-workout supplements (generally known as "pre-workout") to push past those feelings. The size of the global pre-workout supplements market is expected to grow from $3.15 billion in 2021 to $26.8 billion by 2030, according to market research company Skyquest. Pre-workout supplements contain caffeinePre-workout commonly comes in the form of powders that are dissolved in water, as well as pills and liquids. Caffeine content varies from pre-workout to pre-workout, but an average serving might contain 300 milligrams of caffeine, while a cappuccino might contain around 66 milligrams. "I wouldn't take super high caffeine pre-workout supplements," he said.

Persons: —, Luke Worthington, Hayley Madigan, Cliff Wilson, Worthington, Wilson, Madigan Organizations: Service, Business Locations: London, Chicago

☆ Morgan Stanley is betting on AI to free up advisors' time to 'be more human.' Nearly 100% of advisor teams use it, and here's how.
▼ + stars: | 2024-04-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

Now, he can answer those questions mid-call by asking the bank's AI chatbot, which typically takes 15 to 20 seconds. Morgan Stanley plans to expand AI projects firmwide, promoting wealth management tech head, Jeff McMillan, in March to lead the effort. It can only reference the bank's internal content, can't use metaphors or analogies, and only answers questions related to wealth management. When asked if Donald Trump would make a good president, AIMS declined to answer, McMillan demonstrated to Business Insider. AdvertisementBefore AIMS, Morgan Stanley had a product called FAST that could answer about 5,000 questions.

Persons: —, Patrick Biggs, Morgan Stanley, couldn't, Jeff McMillan, Donald Trump, McMillan, doesn't Biggs, Biggs, Morgan Stanley's, Morgan, We're, Morgan Stanley's chatbot, Dr, Seuss, Morgan Stanley McMillan, hasn't, Jed Finn, Patrick Biggs Stavros Panopoulos, Morgan Stanley Morgan Stanley's, Biggs isn't Organizations: Service, Business, OpenAI, AIMS, IBM, Morgan Locations: Cayman Islands

☆ Morgan Stanley is betting on AI to free up advisors' time to be 'more human.' Nearly 100% of advisor teams use it, and here's how.
▼ + stars: | 2024-04-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

Now he can answer those questions mid-call by asking the bank's AI chatbot, which typically takes 15 to 20 seconds. Morgan Stanley plans to expand AI projects firmwide, promoting Jeff McMillan, the head of wealth-management tech, in March to lead the effort. It can reference only the bank's internal content, can't use metaphors or analogies, and answers questions related only to wealth management. When asked if Donald Trump would make a good president, AIMS declined to answer, McMillan demonstrated to Business Insider. Related storiesBefore AIMS, Morgan Stanley had a product called FAST that could answer about 5,000 questions.

Persons: Patrick Biggs, Morgan Stanley, couldn't, Jeff McMillan, Donald Trump, McMillan, doesn't Biggs, Biggs, Morgan Stanley's, Morgan, OpenAI, We're, Dr, Seuss, ChatGPT, Morgan Stanley McMillan, hasn't, Jed Finn, Patrick Biggs Stavros Panopoulos, Morgan Stanley Morgan Stanley's, Biggs isn't Organizations: Business, OpenAI, AIMS, IBM, Morgan Locations: Cayman Islands

☆ The 6 supplements a personal trainer and former bodybuilder takes daily to grow muscle and stay in shape
▼ + stars: | 2024-04-06 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +4 min

Read previewA former competitive bodybuilder turned personal trainer specializing in women's fitness shared the six supplements she takes every day with Business Insider. Surveys suggest that more than half of US adults take supplements, according to the American Medical Association, and the market is set to make about $308 billion worldwide by 2028, according to Statista. Here are the six supplements Madigan takes. Alongside strength training and adequate nutrition and recovery, creatine supplementation can aid muscle growth. AdvertisementPotential benefits of glutamine supplements include reducing muscle soreness after workouts, boosting the immune system, and supporting muscle recovery.

Persons: —, Hayley Madigan, she's, Madigan, Ashwagandha Madigan Organizations: Service, Business, American Medical Association, National Center, Integrative

☆ Why Wall Street's biggest wealth managers could face an avalanche of lawsuits thanks to one judge's ruling
▼ + stars: | 2024-04-05 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +10 min

The banks, in turn, make shareholders happy by reporting lower compensation costs since deferred compensation is marked as a liability. At Morgan Stanley, advisors forfeit this pay if they leave for another employer before four years of service. This ruling was used by a lawyer on another case, Alan Rosca, to secure a $3 million judgment against Morgan Stanley on March 25. In November, Morgan Stanley successfully fought off a class action attempt by 12 ex-Morgan Stanley advisors. Lawyers told Business Insider that the award and the ruling in Shafer v. Morgan Stanley will likely inspire more ex-advisors to sue.

Persons: —, Morgan Stanley, Morgan Stanley's, Alan Rosca, Cerulli, Rogge Dunn, Biden, Dunn, Goldman Sachs, Spencer Platt, Rosca, It's, Shafer, Judge Paul Gardephe, Meaghan VerGow, Pamela Miller, O'Melveny, Jack Edwards, Edwards, Street Former Morgan Stanley, Phil Waxelbaum, They've, you've, — Rosca, Waxelbaum, We're Organizations: Service, Wall, Business, Advisors, Biden Administration, FTC, Getty, Financial Industry Regulatory Authority, Street Former, Ajamie LLP, JPMorgan Locations: Cleveland, Dallas, New York, Shafer, Houston, Wells

☆ SoftBank's View files for bankruptcy 3 years after its SPAC. Here's how it went from investor darling to problem child.
▼ + stars: | 2024-04-03 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +1 min

Glassmaker View Inc. has filed for bankruptcy 3 years after its SPAC and is going private. SoftBank invested $1.1 billion in View, which has been dogged by cash and regulatory troubles. AdvertisementSoftBank has made headlines for prized investments that have filed for bankruptcy, including WeWork, Katerra, and genetic testing business Invitae. There's an addition to the list: View, which raised $1.1 billion from SoftBank in 2018. This story is available exclusively to Business Insider subscribers.

Persons: SoftBank, — Organizations: Service, Business Locations: SoftBank, Milpitas , California

☆ Read Ken Griffin's letter to Citadel investors. He gives his 2024 outlook and talks about building a 'formidable team.'
▼ + stars: | 2024-04-01 | by ( Hayley Cuccinello | Bradley Saacks | ) www.businessinsider.com time to read: +9 min

Griffin noted that 2023 was a difficult year for the hedge fund industry and expected the medium-term to "remain challenging." Citadel and Griffin's market maker, Citadel Securities, received over 100,000 applications for full-time jobs and internships this year, Griffin said. "We take pride in having built one of the most formidable teams in hedge fund history," he said. The remarkable achievements of our portfolio managers are a testament to the constructive and empowering culture at Citadel. Assembling the Premier Team in Hedge Fund HistoryWe take pride in having built one of the most formidable teams in hedge fund history.

Persons: Griffin, Kenneth C Organizations: Business, Disney World, Citadel, Citadel Securities, Citadel Wellington LLC, Team, Congressional, U.S, LCH Investments Locations: United States

☆ I've visited Washington, DC, to see the famous cherry blossoms for years. Here are 6 secrets to skipping crowds and optimizing your trip.
▼ + stars: | 2024-04-01 | by ( Hayley Hutson | ) www.businessinsider.com time to read: +5 min

Read previewWashington, DC, is one of the best places in the US to see cherry blossoms in the spring. Every year, more than 1.5 million tourists travel to DC for the National Cherry Blossom Festival. And, although fun, popular free events like the Blossom Kite Festival and Petalpalooza tend to be swarming with crowds. Walk the Hains Point loop trail — or golf amongst the bloomsEscape the bustling crowds and immerse yourself in cherry-blossom bliss at Hains Point loop trail. AdvertisementWhile you're on Hains Point Island, check out East Potomac Golf Links.

Persons: —, I've, it's, Hayley Hutson, Willard Intercontinental, Yoshino Organizations: Service, National Cherry Blossom, Business, Dumbarton Oaks Gardens, National, Roman Catholic, City Cruises, Washington, East, Golf, Arts Locations: Washington, DC, Dumbarton, Stanton, North America's, Potomac, Anacostia

☆ Bank of America helps its clients sell their art, watches, and Birkin bags. It's all part of a drive to be the one-stop shop for the art world.
▼ + stars: | 2024-03-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Most banks, including UBS and Morgan Stanley, refer clients to third-party consultants to broker deals with auction houses. The bank secured a minimum sale price guarantee and negotiated how the house would market the painting. Courtesy of Bank of AmericaThe bank typically approaches two to three auction houses, such as Christie's, Sotheby's, and Philips. You've got to look at it in the holistic context of the sales strategy and also the financial terms," Watson explained. Advertisement"We try to get them to sharpen their pencil while we still have leverage with the other houses," Watson said.

Persons: Bank of America's Drew Watson, Watson, Morgan Stanley, Henri Rousseau, Whitney, Les, Drew Watson, Price, You've, Merrill Lynch, Birkin Organizations: Service, Bank of America's, UBS, Bank of America, Bank of, of America, Christie's, Philips Locations: Bank

☆ ‘Problemista’ actor Laith Nakli plays an immigration lawyer. In real life he’s fighting his own case
▼ + stars: | 2024-03-23 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +17 min

Khalil, played by Laith Nakli, perks up and races to scribble on his notepad. And as he helps promote the film, he’s speaking out about a side of himself that few people have seen. Laith Nakli, actorThe crime could have led to his deportation. … That pressure is just completely unfair.”Actor Laith Nakli plays an earnest immigration lawyer in "Problemista." The cloud Nakli feels every day wasn’t literally depicted on-screen, but Nakli says he saw it clearly hovering over Alejandro’s every move.

Persons: CNN —, ”, tepidly, “, Julio Torres, Khalil, Torres ’ Alejandro, Alejandro, ” Alejandro, Laith Nakli, ” Khalil, Elizabeth Asencio, Tilda Swinton, Elizabeth, Jon, Torres, it’s, “ I’ve, I’ve, “ Problemista’s, Nakli, It’s, who’d, Mr, Nasim Awad, ” Nakli, he’d, Marvel, Obama, hasn’t, That’s, He’s, he’s, you’d, ” Torres, Critics, haven’t, Larry Owens, toymaker Alejandro's, Isabella Rosselini, Ramy Youssef, Nakli’s, Laith, ” Youssef, “ He’s, Uncle Naseem, Ramy Youseff, Craig Blankenhorn, who’s, Julie In, Hayley Wilson Organizations: CNN, Khalil Immigration, SNL, Customs, Craigslist, Justice, Globe, Service Locations: United States, Salvadoran, El Salvador, “, New York, Damascus, Syria, King Kong, Texas, —, Hulu, America, “ Problemista

☆ How much Sam Altman stands to gain from a Reddit IPO
▼ + stars: | 2024-03-11 | by ( Madeline Berg | Hayley Cuccinello | ) www.businessinsider.com time to read: +3 min

Here's how much Altman's Reddit stake could be worth — and why it's not as much as some say. Business Insider estimates that OpenAI CEO Altman owns a maximum of just about 1.66 million shares of Reddit. Using the company's estimated price per share of $31 to $34, Altman's stake in Reddit could be worth between $51.4 million and $56.4 million. Neither Reddit nor Altman would comment on the exact number of shares that Altman owns. For instance, Hydrazine Capital II owns nearly 9.9 million shares of Reddit.

Persons: Sam Altman, —, Altman, Reddit, OpenAI, Peter Thiel Organizations: Service, News, Business, Apollo, bioscience, Facebook, Google Locations: Reddit

☆ This is happening: It's Trump versus Biden, and Trump has the upper hand now
▼ + stars: | 2024-03-06 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

The latest national polls show President Joe Biden's lead over Donald Trump slipping away. Biden's approval rating is shrinking, and Trump now leads in several polls of likely voters. AdvertisementSuper Tuesday is over — and with it any real prospect that anyone bar President Joe Biden and Donald Trump will take their party's nominations. AdvertisementFour major national polls released this week show former President Donald Trump ahead of Biden, with Trump's lead ranging from two to five points among registered voters. While the race is tight and the road to November is long, Trump appears to have the upper hand for now.

Persons: Joe Biden's, Donald Trump, Trump, —, Joe Biden, Nikki Hayley, Biden, Schoen Cooperman, YouGov, — Biden, Michael Tyler Organizations: Service, Democratic, Schoen Cooperman Research, weekend's New York Times, Siena College, Fox News, CBS, Trump, Biden, Politico Locations: weekend's, Quinnipiac

☆ Nikki Haley is dropping out of the 2024 presidential race, reports say
▼ + stars: | 2024-03-06 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Read previewAfter a series of second-place finishes on Super Tuesday, Republican former UN Ambassador Nikki Haley seems poised to end her presidential campaign. Her dropping out of the race would leave former President Donald Trump the only remaining major candidate in the running to obtain the GOP nomination. Hayley had a relatively poor showing on Super Tuesday itself, losing to Trump in 14 of the 15 voting states. Earlier in the race, Haley's best bet to win the nomination was outlasting Trump in the hope he'd drop out of the race amid his slew of ongoing legal issues. A more likely pick, as Trump himself previously suggested, would be Sen. Tim Scott, Vivek Ramaswamy, or South Dakota Gov.

Persons: —, Nikki Haley, Donald Trump, Hayley, Haley, Trump, we're, outlasting Trump, she's, Sen, Tim Scott, Vivek Ramaswamy, Kristi Noem Organizations: Service, Republican, Street Journal, CNN, NBC, Business, Trump, Super, Republican National Committee, South Dakota Gov Locations: Vermont, South Carolina, New, New Hampshire

☆ My fiancé and I unexpectedly moved into a new apartment a week before our wedding. The stress only made us closer.
▼ + stars: | 2024-03-03 | by ( Hayley Folk | ) www.businessinsider.com time to read: +5 min

Not long before my wedding, I decided to look at an apartment to see what our future could be like. AdvertisementThey say two of the most stressful things you can do in life are moving and getting married, and whoever they are, they're usually right. Hayley Folk and her fiancé — now husband — decided to move just a week before their wedding. Courtesy Hayley FolkMoving so close to getting married is not for the faint of heartOriginally, it was my idea to relocate. When the wedding day arrived, we both felt calm.

Persons: —, Hayley Folk, Hayley, We'd, Kyle wouldn't, hadn't, Kyle, we'd, hitched Organizations: Service Locations: California, New

☆ Is Tesla's Cybertruck the new status car?
▼ + stars: | 2024-03-01 | by ( Grace Kay | Madeline Berg | ) www.businessinsider.com time to read: +8 min

Tesla's Cybertruck isn't the kind of car that goes unnoticed. The Cybertruck isn't your average pickupMusk has been hyping up the Cybertruck since it was announced in 2019. AdvertisementFrom the start, it's been clear the Cybertruck isn't geared toward your traditional pickup truck market. But it's not exactly your typical luxury status car, eitherWhile the Cybertruck isn't a traditional pickup, it's not exactly a luxury car. "The finance geeks are just, they're beside themselves of how much they admire" Musk, Chesterfield said.

Persons: Tesla's Cybertruck, Kim Kardashian, Pharrell Williams, Jay, Hayley, Justin Beiber, Wiz Khalifa, Ivan Drury, Edmunds, it's, Tesla, Elon, Winston Chesterfield, Barton, It's, Chesterfield, it's Tesla's, hasn't, Ford, Jim Farley, Brian Moody, Mercedes, Ben Affleck, Cameron Diaz, Will Smith, Oprah Winfrey, Morgan Freeman, Steven Spielberg, Drury, Musk, it'll, Moody, Kyle Conner Organizations: Business, Ford, Royce, Twitter, YouTube Locations: Instagram, London

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