Forbes Talks

A Georgia researcher's public records request has revealed that the police department in the small Chicago suburb of Schaumburg is sharing its automated license plate reader data with more than 400 Illinois law enforcement and government agencies—a finding that comes as public debate over the mass surveillance of Flock and other plate-reader networks intensifies across the country. Read the full story on Forbes: https://www.forbes.com/sites/maryroeloffs/2026/08/17/have-i-been-flocked-researcher-says-over-400-illinois-agencies-have-surveillance-network-access/ Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump and Elon Musk speak about once a month after aides and allies worked to mend their feud following a very public falling out last year—but Trump acknowledges privately the relationship will never be the same, according to a new report. Read the full story on Forbes: https://www.forbes.com/sites/saradorn/2026/08/14/trump-reportedly-says-his-relationship-with-musk-will-never-be-the-same-after-epic-fallout/ Learn more about your ad choices. Visit megaphone.fm/adchoices

A recent investment into the media company owned by “Call Her Daddy” podcaster Alex Cooper has valued the company at $500 million as it looks to expand its video and lifestyle businesses. Learn more about your ad choices. Visit megaphone.fm/adchoices

Investors in Selena Gomez’s struggling mental health startup, Wondermind, sued Gomez, her mother and the company’s co-founder in federal court Thursday, accusing them of securities fraud for promising initiatives that never materialized without properly communicating with the investors whose money was allegedly “funding the collapse.” Read the full story on Forbes: https://www.forbes.com/sites/conormurray/2026/08/13/selena-gomez-and-wondermind-startup-sued-for-allegedly-defrauding-investors/ Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump secretly swapped planes last month and left Turkey on board a much smaller plane in response to a purported Iranian threat, according to multiple reports, the latest development involving Trump’s departure from the NATO summit and Air Force One. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/08/11/iran-threat-reportedly-prompted-trump-to-secretly-swap-planes-while-leaving-turkey/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Billionaire investor Josh Kushner and former Disney CEO Bob Iger reached an agreement to buy the Los Angeles Lakers at a $12.5 billion valuation, a record-setting price tag for a U.S. sports franchise, according to multiple reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tesla is recalling 20,000 Model 3 and Model Y vehicles with low-beam headlights that violate federal brightness standards—the latest in a string of safety concerns for the automaker that have included problems with rear image cameras, brake rotors, battery packs and warning lights. Read the full story on Forbes: https://www.forbes.com/sites/maryroeloffs/2026/08/11/tesla-recalls-20000-cars-for-too-bright-headlights/ Learn more about your ad choices. Visit megaphone.fm/adchoices

A consortium that includes Jeff Bezos is nearing a deal to buy a roughly one-third stake in Liverpool F.C., Sky News reported Monday, potentially making the Amazon founder the latest billionaire to acquire equity in a sports franchise. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/08/10/jeff-bezos-nears-deal-for-30-stake-in-liverpool-report-says/ Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.K.’s antitrust watchdog and culture minister on Thursday approved Paramount Skydance’s $110 billion takeover of Warner Bros. Discovery, clearing another major regulatory hurdle despite Paramount agreeing to delay its deal until next year amid broad antitrust concerns. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/08/06/uk-backs-paramounts-110-billion-warner-bros-discovery-deal/ Learn more about your ad choices. Visit megaphone.fm/adchoices

A Qatar-donated Boeing jet gifted to and used by President Donald Trump as a temporary Air Force One may no longer be headed to his presidential library, at least for now, according to multiple reports, with Eric Trump telling NBC News there are different plans for the aircraft. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/08/05/qatar-gifted-air-force-ones-future-grows-unclear-as-trump-library-plans-fall-into-doubt/ Learn more about your ad choices. Visit megaphone.fm/adchoices

The surprising success of “Spider-Man: Brand New Day,” the fourth movie to star Tom Holland as the titular character, continued Wednesday as the movie became the highest-grossing film at the box office so far this year, topping “Toy Story 5” just seven days after its release. Read the full story on Forbes: https://www.forbes.com/sites/maryroeloffs/2026/08/05/spider-man-brand-new-day-passes-toy-story-5-as-years-highest-grossing-film/ Learn more about your ad choices. Visit megaphone.fm/adchoices

A Trump-linked cryptocurrency mining company, American Bitcoin, disclosed Monday that it settled a Justice Department allegation accusing it of improperly obtaining a pandemic relief loan, agreeing to pay millions of dollars as it omitted the settlement from its positive earnings narrative. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/08/04/trump-linked-bitcoin-venture-reached-25-million-settlement-over-improperly-obtained-loan-allegation/ Learn more about your ad choices. Visit megaphone.fm/adchoices

SpaceX’s stock once again took a hit on Wednesday after the rocket maker posted its first-ever earnings report, which seemingly spooked investors and analysts after the Elon Musk-led firm announced a sixfold increase in quarterly spending. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/08/05/spacex-shares-plunge-13-as-elon-musks-fortune-sheds-80-billion-heres-what-analysts-are-saying/?streamIndex=0 Learn more about your ad choices. Visit megaphone.fm/adchoices

OpenAI rejected Apple’s lawsuit alleging trade secrets theft in a lengthy blog post early on Tuesday that includes several iMessage chats and email conversations as it challenged the iPhone-maker’s bid to gain a preliminary injunction barring two former Apple employees and OpenAI from accessing or disclosing alleged confidential information. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/08/04/openai-shares-chats-and-emails-to-rebut-apples-suit-alleging-it-stole-trade-secrets/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Sens. John Cornyn, R-Texas, and Thom Tillis, R-N.C., said Monday they’ll back Todd Blanche’s confirmation as attorney general after he issued an order rescinding the Justice Department’s controversial “anti-weaponization fund,” but critics fear the government could still revive the fund in the future. Read the full story on Forbes: https://www.forbes.com/sites/alisondurkee/2026/08/03/todd-blanche-wins-key-confirmation-holdouts-but-questions-over-trumps-18-billion-fund-linger/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Anthropic on Thursday said its advanced AI models successfully hacked the systems of three organizations while undergoing internal evaluation, a security disclosure that comes a week after rival OpenAI revealed one of its advanced models hacked a company after escaping a contained test environment. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/07/31/anthropic-says-its-ai-models-hacked-into-three-organizations-during-testing/ Learn more about your ad choices. Visit megaphone.fm/adchoices

The K-pop mega band BTS will not be submitting their music for consideration at next year's Grammy Awards in an apparent protest against the Recording Academy’s decision to introduce a separate new “Asian Pop” category, prompting the academy’s CEO Harvey Mason Jr. to defend the new category while saying he was “saddened” by the band’s decision. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/07/30/grammy-ceo-saddened-after-bts-boycott-awards-over-new-asian-pop-category/ Learn more about your ad choices. Visit megaphone.fm/adchoices

FIFA will ask its 211 member associations to vote on its controversial plan to sell minority stakes in the World Cup in September, multiple outlets reported—although the plan has already been criticized by soccer governing bodies in the Americas, Asia and Europe. In a deal first reported by The Times and the Financial Times, FIFA is planning to raise an estimated $4.2 billion in 2026 by selling a reported 20% minority stake in a new subsidiary at an equity valuation of $20 billion. FIFA confirmed the plans in an announcement on Tuesday morning, which said the new company would be called FIFA Forward Enterprise and would control the nonprofit organization’s “commercial and event operations.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Mark Zuckerberg’s net worth declined by nearly $18 billion on Thursday as Meta’s stock paced an 11-day losing streak, with Wall Street souring on the Facebook parent’s plans to accelerate spending on AI. Shares of Meta plunged 9% as of Thursday afternoon, pacing what would be the stock’s worst single-day loss this year so far and a 21.7% slide over the last 11 trading sessions. The latest dip in Meta’s shares cut $17.8 billion from Zuckerberg’s net worth, valued at $183.3 billion, ranking him the sixth-richest person in the world directly ahead of Nvidia’s Jensen Huang ($167.2 billion) and behind Michael Dell ($228.9 billion). Learn more about your ad choices. Visit megaphone.fm/adchoices

Nvidia and OpenAI have held talks to spend roughly $500 billion on a data center in southern Ohio, potentially becoming the largest such project by power capacity in the world by far. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/07/27/nvidia-and-openai-discussing-500-billion-data-center-heres-what-we-know/ Learn more about your ad choices. Visit megaphone.fm/adchoices

A further decline in SpaceX shares on Monday cut Elon Musk’s net worth by more than $20 billion, lowering his fortune below the $700 billion threshold for the first time since December, as Musk falls further from his trillionaire status. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/07/27/elon-musks-wealth-sinks-below-700-billion-as-spacex-rout-extends/ Learn more about your ad choices. Visit megaphone.fm/adchoices

CXMT—whose memory chips have been sought by Apple—made a blockbuster trading debut on Monday and briefly became the most valuable publicly listed company in mainland China, mirroring surges in the stock price of other major memory chipmakers like Samsung, SK Hynix and Micron amid an AI-driven boom in demand. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/07/27/chipmaker-courted-by-apple-soars-on-market-debut-and-briefly-becomes-chinas-most-valuable-company/ Learn more about your ad choices. Visit megaphone.fm/adchoices

The city of Dubai is making dramatic—and expensive—efforts to recoup the once record-breaking tourist numbers that have plummeted since the start of the Iran war by offering travel perks worth upwards of $800 to residents who invite visitors to enter the country between now and the end of October. Read the full story on Forbes: https://www.forbes.com/sites/maryroeloffs/2026/07/23/dubai-had-a-record-number-of-tourists-last-year-now-theyre-paying-people-to-visit/ Learn more about your ad choices. Visit megaphone.fm/adchoices

LeBron James on Friday signed a two-year, $8 million contract with the Philadelphia 76ers to extend his historically long NBA career, a sizable pay cut for James, whose earnings and investments on and off the court have cemented his billionaire status for years. James signed an $8 million deal with a player option, allowing him to extend his contract for an additional season at a set salary or become an unrestricted free agent, NBA insider Shams Charania reported, marking a 92% pay cut from his $52.6 million salary the previous season. Forbes named James—whose net worth is valued at $1.4 billion as of Friday—a billionaire in 2022, making him the first athlete to reach billionaire status while still active in their sport, and he is one of four active billionaire athletes, joining Cristiano Ronaldo, Lionel Messi and Tiger Woods. By Ty Roush, Forbes Staff Learn more about your ad choices. Visit megaphone.fm/adchoices

LeBron James will join the Philadelphia 76ers, according to ESPN, and will sign a two-year contract with the team that will further his historically long NBA career by another two years. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/07/24/lebron-james-will-join-philadelphia-76ers-extending-his-historic-career-another-2-years/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Elon Musk’s fortune was cut by more than $18 billion on Thursday amid the worst intraday selloff in Tesla shares in more than a year, following the automaker’s earnings report that disappointed Wall Street, as analysts called for Musk’s firm to bring “tangible” results for its robotics and robotaxi businesses. Shares of Tesla plunged 14.1% as of Thursday afternoon, pacing what would be the largest single-day decline for the stock since June 5, 2025 (14.2%). That drop in Tesla’s share price lowered Musk’s net worth by $18.6 billion to $731.7 billion, even as he remains the world’s richest person ahead of Google co-founder Larry Page ($263.8 billion) and Amazon’s Jeff Bezos ($245.4 billion). Learn more about your ad choices. Visit megaphone.fm/adchoices

Billionaire Elon Musk suggested in posts on X he would either fund an alternative “Odyssey” movie with a more “historically accurate” take on ancient Greece or make his own with Grok, the latest in his ongoing crusade against the box office hit. Read the full story on Forbes: https://www.forbes.com/sites/conormurray/2026/07/22/musk-suggests-hell-make-his-own-odyssey-with-grok-latest-in-crusade-against-nolan-film/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Treasury Secretary Scott Bessent on Wednesday unveiled the first images of a $1 gold coin featuring President Donald Trump’s face, weeks after he revealed a new $250 bill with the president’s face, despite U.S. law prohibiting living people from appearing on currency. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/07/15/bessent-unveils-new-1-gold-coin-featuring-trumps-face/ Learn more about your ad choices. Visit megaphone.fm/adchoices

The number of Canadian visitors to the U.S. nudged upward in June compared to a year ago—but visitation remains significantly down compared to 2024. Read the full story on Forbes: https://www.forbes.com/sites/suzannerowankelleher/2026/07/14/canadian-visitors-to-us-up-june-but-down-since-2024/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Alphabet shares jumped on Monday following a report that the Google parent is planning to deploy a new chip to run its Gemini models more efficiently, adding a combined $15 billion to the net worths of cofounders Larry Page and Sergey Brin. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/07/20/alphabet-rally-boosts-google-cofounder-fortunes-by-15-billion-heres-why-shares-are-up/ Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump’s longtime teleprompter operator is on unpaid leave amid a federal investigation after allegedly using insider information to bet on what the president would say in his speeches, the White House said Thursday. Federal investigators with the Commodity Futures Trading Commission reportedly believe Gabriel Perez, the operator who has worked for Trump since 2016, made money betting on Trump’s State of the Union address and more than a dozen other Trump speeches, according to ABC News, citing unnamed sources. Perez is on unpaid leave, White House press secretary Karoline Leavitt said Thursday shortly after the ABC story broke, and is reportedly in talks to settle the allegations he has earned more than $100,000 trading on the president’s speeches, which emerged when the trading market, Kalshi, alerted the CFTC of suspicious activity on its site. Learn more about your ad choices. Visit megaphone.fm/adchoices

The World Cup final will be the most expensive sporting event ever hosted in the U.S. in terms of ticket prices on resale markets, according to data from secondary ticket marketplace TickPick, which said the average ticket price for the matchup between Argentina and Spain has topped other events like the Super Bowl and NBA Finals. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/07/15/argentina-spain-world-cup-final-is-most-expensive-us-sporting-event-ever/ Learn more about your ad choices. Visit megaphone.fm/adchoices

A setback in Starship’s latest launch attempt lowered SpaceX shares to another all-time low on Friday, extending a losing streak for the stock and lowering Elon Musk’s net worth by more than $45 billion, after Wall Street appeared optimistic about the firm’s launch capabilities. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/07/17/elon-musks-net-worth-drops-below-800-billion-after-starship-launch-aborted/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Warren Buffett excluded the Gates Foundation from his midyear donations for the first time since 2006, opting instead to donate thousands of Berkshire Hathaway shares worth almost $6 billion to four foundations run by his children. Read the full story on Forbes: https://www.forbes.com/sites/zacharyfolk/2026/07/14/warren-buffett-excludes-gates-foundation-from-midyear-donations/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Public health officials are reportedly investigating whether lettuce served at Taco Bell restaurants played a role in an outbreak of cyclosporiasis, a gastrointestinal illness that has sickened thousands across the country, as some locations have pulled ingredients as a precaution. Citing two unnamed sources, the Washington Post reported federal and state health officials are looking into the fast food chain after Detroit-area Taco Bell restaurants posted signs they were “currently unable to sell Lettuce, Cilantro Onion, Pico de Gallo, and Guacamole due to a nationwide recall.” Taco Bell told Bloomberg it has “temporarily and voluntarily” removed unspecified ingredients at select restaurants as officials review the causes of the outbreak, noting it would “continue to closely monitor the situation and follow the guidance of public health authorities.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Elon Musk’s net worth dipped below $900 billion on Monday as shares in his SpaceX slid toward their initial public offering price, even as analysts remain overwhelmingly bullish on the rocket maker. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/07/13/elon-musks-fortune-falls-below-900-billion-as-spacex-slide-worsens/ Learn more about your ad choices. Visit megaphone.fm/adchoices

The White House announced the first location of the “Freedom Fuel Network”—a private company running 25 gas stations in New Jersey and Pennsylvania—though scant details about the initiative have raised questions about who is behind the company and how they are offering lower prices than the state average. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/07/08/trump-promoted-freedom-fuel-discounted-gas-station-launches-in-philadelphia-area/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Blue Origin raised outside capital in its first-ever funding round, valuing the company at $130 billion, according to multiple reports on Wednesday, as Jeff Bezos’ rocket company seeks to challenge SpaceX. Blue Origin raised $10 billion in the funding round, $4 billion of which comes from Coatue Management and $2 billion from Bezos himself, while the remaining $4 billion is expected from other institutional investors, the New York Times reported. Several investors are expected to participate in the remaining $4 billion, drawing significant demand, according to CNBC, citing people familiar with the matter. Prospective investors are interested in Blue Origin’s future projects, including TeraWave, the company’s satellite communications network that was unveiled in January, according to the Times. Learn more about your ad choices. Visit megaphone.fm/adchoices

The White House—which briefly grounded the new Air Force One gifted by Qatar—assured Forbes the plane was safe from the "many enemies of America who have their sights on" Trump, but questions have emerged over whether it has met the necessary security upgrades. Read the full story on Forbes: https://www.forbes.com/sites/conormurray/2026/07/09/white-house-trumps-qatari-jet-secure-from-enemies-of-america-but-questions-remain/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Danish Prime Minister Mette Frederiksen said Greenland was “not for sale” and that her country was “ready to defend every inch of NATO, including our own territory,” after President Donald Trump began renewing calls for the U.S. to acquire the self-governing territory at a contentious NATO summit taking place in Turkey. Read the full story on Forbes: https://www.forbes.com/sites/zacharyfolk/2026/07/08/danish-prime-minister-says-greenland-is-not-for-sale-after-trump-renews-demands-for-territory/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Tickets for the World Cup quarterfinal matchup in the Los Angeles area swiftly dropped by more than half on resale markets following the elimination of the U.S. and Portugal on Monday, the latest ticket price reduction of the tournament ahead of the final later this month. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump has once again brought up his call for the U.S. to control Greenland, telling reporters at the NATO summit that kicked off today that the dispute over the territory is what hurt his relationship with NATO.  Greenland is currently autonomous territory of Denmark and is self-governing but Trump has argued that the U.S. should control it because the island territory is surrounded by Russian and Chinese ships. These claims have previously been rejected by Nordic diplomats. Trump went on to suggest that he could pull American soldiers from bases in Europe. In June, Defense Secretary Pete Hegseth announced a review of deployments in Europe, but did not confirm if it would lead to reduction in troops. In May, 4000 personnel were pulled from Poland and Germany but another 5,000 were deployed to Poland just a few weeks after.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Coffee and chocolate, two of the world’s most widely consumed and traded commodities, soared in value as investors appeared concerned El Niño weather patterns could disrupt harvests across Brazil and West Africa, with analysts warning that coffee has approached “meme-stock territory.” Coffee futures jumped as much as 18.5% on Monday, hitting $3.57 per pound in the commodity’s largest intraday gain since 2000, and extending a 48% rally since June 10, before stumbling by more than 7% in early trading Tuesday. Monday’s “historic session” pushed coffee futures into “meme-stock territory,” according to the financial services group StoneX, which said aggressive buying by institutional investors and computer-driven trading funds overwhelmed heavy selling from coffee-producing countries. Learn more about your ad choices. Visit megaphone.fm/adchoices

A leak of private information purportedly related to an ultra-secret society called “Dialog” founded by PayPal billionaire Peter Thiel has revealed the inner workings of an elite group to which hundreds of global leaders, business executives and billionaires belong. The documents, examined and revealed by Wired this week, show Thiel and investor Auren Hoffman co-founded Dialog in 2006 as a private, invitation-only and “bipartisan” network of influential people in technology, politics, academia, finance, government and beyond.  Dialog describes itself as a place for off-the-record relationships among leaders from different fields and ideological backgrounds, and the group hosts at least one in-person retreat per year at at lavish locations like the Ritz-Carlton Dove Mountain in Arizona, the Ritz Carlton in Santa Barbara, California and the San Clemente Palace in Venice. Learn more about your ad choices. Visit megaphone.fm/adchoices

Iran could have access to up to $300 billion in reconstruction funds if it adheres to a peace agreement it recently struck with the U.S., according to Vice President JD Vance and multiple reports, though official terms of the deal remain scarce as President Donald Trump has seemingly denied the payout as “fake news.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Fox Corporation on Monday announced it reached an agreement to buy the streaming service Roku for $22 billion, expanding Fox’s streaming portfolio in a transaction the companies said would create the “third-largest player in U.S. television.” Fox said it would acquire Roku for $160 per share in a deal the companies expect to include $400 million in savings. Fox CEO Lachlan Murdoch, the eldest son of billionaire Rupert Murdoch, called the deal a “defining moment” for Fox that brings “together the most valuable live content portfolio and video consumption with the preeminent streaming platform through which America watches it.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Elon Musk just became the first trillionaire in world history. SpaceX’s stock began trading on the Nasdaq Friday at $150 per share, implying a nearly $2 trillion market cap for the company. Forbes estimates that Musk is now worth $1.1 trillion as of just before noon eastern Friday, up from $982 billion on Thursday, when SpaceX priced its IPO at $135 share. The IPO pricing boosted Musk’s fortune by $188 billion yesterday, according to Forbes’ calculations.  Musk, who serves as chairman, CEO and chief technical officer of SpaceX, owns 4.8 billion shares of the rocketmaker, worth $715 billion. He has another 350 million stock options with an exercise price of $8.40 per share, worth $50 billion, giving him a 38% stake in the company, worth $765 billion. Before SpaceX priced its IPO on Thursday, Forbes had been valuing Musk’s estimated 40% stake (before dilution from the offering) at around $500 billion, based on the $1.25 trillion valuation of SpaceX’s merger with Musk’s artificial intelligence and social media company xAI in February. (xAI previously merged with X–formerly Twitter–in March 2025.)  Musk also owns just over 10% of $1.5 trillion (market cap) Tesla, worth $163 billion, plus options to acquire another nearly 8% stake, worth $113 billion. Rounding out his net worth are smaller stakes in his brain interface startup Neuralink and his tunneling firm Boring Company, plus several billion dollars’ of wealth from previous Tesla share sales. Learn more about your ad choices. Visit megaphone.fm/adchoices

Larry Ellison’s fortune declined by more than $10 billion on Tuesday, dropping him behind Jeff Bezos to the No. 5 spot among the wealthiest as Oracle shares stumbled amid another broad decline for tech stocks. Shares of Oracle dropped by more than 4% as of Tuesday afternoon, extending losses of 17% over the last week, as other tech stocks headlined declines across the stock market, including Marvell (11.5%), AMD (7.2%), Micron (5.9%), Apple (3.8%) and Nvidia (2.6%). The latest intraday slide for Oracle lowered Ellison’s net worth by $10.4 billion, valued at $249.7 billion, ranking him behind Amazon’s Bezos ($252 billion) and Google cofounders Sergey Brin ($272.7 billion) and Larry Page ($295.6 billion), according to Forbes’ Real-Time Billionaires list. Learn more about your ad choices. Visit megaphone.fm/adchoices

Inflation rose to its highest annual rate in three years in May, as surging oil costs once again fueled broader price increases amid a persistent conflict in the Middle East, according to federal data released Wednesday. Consumer prices increased 4.2% from May 2025 and 0.5% between April and May, the Bureau of Labor Statistics reported, matching consensus economist estimates, according to FactSet. That’s the first time inflation crossed the 4% annual rate since May 2023 (4%), and it’s the highest rate since April 2023 (4.9%). Learn more about your ad choices. Visit megaphone.fm/adchoices

OpenAI has confidentially filed an S-1 form for an initial public offering, the company said in a brief statement on Monday, about one week after artificial intelligence rival Anthropic did the same as several of the largest companies in the industry prepare to go public. In a brief statement released on Monday evening, OpenAI said it expected news of the confidential filing to leak, prompting it to announce the filing early. The company said it hasn’t decided when the highly anticipated IPO would take place, warning that quote “it may be a while because there are things we want to do that are likely easier as a private company.” Learn more about your ad choices. Visit megaphone.fm/adchoices