Forbes Daily Briefing: Recent Episodes
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After an offseason that featured a slew of record contracts, Baltimore Ravens quarterback Lamar Jackson leads a group of ten players making a record $508 million combined this season.
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Just a week after commemorating Google’s 25th birthday, the tech giant will face hard questions from the U.S. government about how it orchestrated its dominance of internet search.
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Its business is tailored to fixed-route deliveries from warehouses to stores and post offices, a $250 billion market. And it aims to be profitable in three years or less.
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Takaya Awata, founder and CEO of Tokyo-listed Toridoll Holdings, best known for its popular udon noodle restaurants, has joined the ranks of billionaires.
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The Republican candidate made a pile of money in finance and biotech, enough to turn himself into one of the richest thirty-somethings in America. Unlike Donald Trump, he’s entirely self-made.
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Backed by $120 million in venture funding, Stanford professor Christina Smolke’s company Antheia just completed its first scaled production of a key drug ingredient.
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With Roger Federer finally exiting the stage, a new No. 1 leads a top ten that made a combined $196 million over the past 12 months.
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Amid the turmoil of a management change at the top, a major recall and a tumbling stock price, the company still says it remains on track to be the first manufacturer to deliver hydrogen fuel cell semis to customers this year.
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In the competitive global travel industry, America has lost its edge with the world's highest-spending travelers due to long visa wait times, gun violence and geopolitics.
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Hermeus’ audacious plan to build a passenger plane able to travel at Mach 5 is a longshot, but it’s won Pentagon backing.
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For the past several years the Biden Administration and TikTok have been negotiating a deal to resolve national security concerns posed by the Chinese-owned app. Here’s an exclusive look inside a draft of the deal and what TikTok might have to give up to keep operating in the United States.
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With Amazon Clinic, patients can see wait times and pricing upfront, but there are limits to what even the world’s biggest retailer can do to make a dent in the $4.3 trillion the U.S. spends on healthcare.
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Many of America’s big bosses want their employees back in the office ASAP, arguing that sharing a physical workplace makes them more creative and productive. But is that impulse based on good evidence?
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When researchers claimed to discover a room-temperature superconductor called LK-99, it set off a viral race to replicate their findings in both professional and amateur labs in pursuit of a potentially revolutionary materials science breakthrough.
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After cashing in during the Trump era, Joe Biden is once again taking a government paycheck. That’s not stopping him from continuing to add millions to his fortune.
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Valued at $2.2 billion in 2021, African money-transfer startup Chipper Cash was slow to adapt to the funding collapse of 2022. Now, after layoffs and a deep valuation cut, it’s focusing on the basics–and profitability.
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Food waste costs grocery stores $28 billion every year. Afresh is working to slash that number.
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VCs are pouring millions into "firetech" companies, even though their tools are a "drop in the bucket" in terms of addressing this increasingly destructive problem.
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Monarch CEO Praveen Penmetsa expects sales to triple or more this year as it gets its autonomous electric tractors in the hands of farmers, earning the Livermore, California-based company a coveted spot on our annual list of the Next Billion-Dollar Startups.
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The brash British entrepreneur is bringing the sweet science back by punching above his weight as a promoter and embracing his role as the sport’s latest hero—and villain.
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Form Energy, led by a former Tesla executive and backed by Bill Gates’s Breakthrough Energy Ventures and TPG, sees iron and rust as a low-cost solution to storing surplus energy for more than four days.
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Is it a crypto company? A biometric authentication platform? A “human economic system”? Inside Worldcoin’s struggle to find itself.
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These are good times for Nicholas Howley. TransDigm, the airplane-parts maker he cofounded, has sidestepped allegations of excess profits of as much as 4,436%, the stock has hit record highs, and Forbes has determined that Howley’s net worth now has three commas.
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Our inaugural 30 Under 30 Local List features the top entrepreneurs, activists and creatives in the vibrant innovation hubs of Atlanta, Austin, Boston, Chicago, Cleveland, Los Angeles, Miami, Puerto Rico, Seattle and Toronto.
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$200 million in sales. A $10 billion valuation. New billionaire Assaf Rappaport has built Wiz into one of software’s fastest-growing startups ever.
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AI-based translation software, DeepL, is making its first appearance on the Forbes Cloud 100 list this year thanks to a machine learning translation model that users say is more precise than Google’s.
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Bud Brigham made hundreds of millions from the sale of two oil companies. His sand company could make him a billionaire.
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With a focus on the developing world, in exchange for an iris scan, the company is offering $60 along with proof you aren’t a robot — but there are hidden risks. Why trust a private enterprise with your biometric data?
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The women on the third annual Forbes 50 Over 50 are founding brands used by millions, breaking world records and forging technological breakthroughs. They are proof positive that success and innovation can happen at any age.
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The ranks of the wealthiest people on the planet include nine self-made Americans and a French luxury goods tycoon.
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Former longtime employees of The Knot have accused the wedding giant of defrauding investors and advertisers to land a $1 billion sale in 2018. Years later, with a possible IPO looming, Forbes found some troubling practices remain.
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CG Oncology, led by Forbes 30 Under 30 alum Arthur Kuan, wants to supplant the current treatment for a form of cancer that’s been virtually unchanged for decades.
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At 79, Patti LaBelle isn’t resting on her royalties. She’s leveraging her music earnings to bootstrap Patti’s Good Life, whose sweet potato pies and mac n’ cheese are now bestsellers at Walmart.
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Bill Gates and other investors are betting Kodama Systems can reduce carbon dioxide in the air by chopping down and burying trees.
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Benjamin Oakes' Scribe Therapeutics is developing specialized Crispr proteins to tackle a wide range of diseases — and it’s garnered deals with Big Pharma potentially worth over $4 billion.
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Serial startup founder Ryan Breslow's Love Health, a cryptocurrency pharmaceuticals startup, was sued last month for allegedly providing goods and services that are “identical” to those of Love Wellness, a lifestyle brand founded by The Hills reality TV star Lauren Bosworth.
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Chatbots are increasingly being used by companies to interview and screen job applicants, often for blue collar jobs. But like other algorithmic hiring tools before them, experts and job applicants worry these tools could be biased.
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Jonathan Elfand built a $25 million-dollar kingdom with Empire Cannabis Club. Then state tax officials raided his dispensaries. And he’s ready for battle.
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Mike Salguero’s online meat-seller has roared to $550 million in sales by outsourcing food production, not owning it.
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As the United States goes for a historic three-peat, it’s USA vs. The World this summer in Australia and New Zealand. Financially, though, it’s no competition — with 11 Americans among the tournament’s top 15 earners.
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After a decade of study and development, the Federal Reserve last week finally launched FedNow, a system that could eventually mean businesses and consumers have near instant access to payments and money moved between financial accounts.
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Denver-based Koloma has quietly raised $91 million to drill for carbon-free hydrogen that’s continuously generated underground. If it succeeds, it could turbocharge the clean energy revolution — and potentially tap a $1 trillion market.
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PublicSq. bills itself as a patriotic site for shoppers to buy from companies that support conservative values.
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Since the series tapped the brakes on constructors’ spending in 2021, valuations have been revving up, with Ferrari now worth $3.9 billion and Mercedes hot on its tail.
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Artificial intelligence is helping American cops look for “suspicious” patterns of movement, digging through license plate databases with billions of records. A drug trafficking case in New York has uncloaked — and challenged — one of the biggest rollouts of the controversial technology to date.
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She’s here, she’s there, she’s every pinkin’-where. With Margot Robbie’s summer blockbuster arriving in theaters and ubiquitous merchandise collaborations, the world’s favorite doll is about to launch the Mattel cinematic universe.
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With millions of patients under its belt, digital health startup K Health is looking to scale its artificial intelligence technology in hospitals, starting with new strategic investor Cedars-Sinai.
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Crypto gambling mogul Ed Craven is challenging the Amazon-backed juggernaut by offering superstar creators—including xQc and Amouranth—outrageous eight-figure contracts to join his new service. Unless it’s all just a giant bet on his offshore casino.
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As the fashion juggernaut faces new scrutiny from regulators, officials at the Kelley School of Business at Indiana University refuse to explain why it abruptly abandoned a partnership it once touted as a “natural fit.”
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If top investment banks, consulting and law firms care about a diverse entry-level recruiting pool, they’re going to have to develop a wider pipeline.
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View Inc. raised billions promising tint-shifting windows that saved energy costs. Now investors question if it should have ever gone public.
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It may not matter if Craig Wright created Bitcoin. The real question is whether the nearly 4,000 patents he controls or has pending will force computer programmers around the world to stop using open-source software as they now do — or pay up.
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Musk and Zuckerberg continue to deal blows to each other, even if the cage fight is still metaphorical — for now.
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As users flock to the microblogging app in the millions, creators are excited about testing it out — but they’re wary that the newest Twitter competitor won’t stick around.
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Turnaround expert Tom Shull plucked the Pentagon’s PX stores from the brink of collapse, cut costs and goosed profits. Now he’s working to keep things that way as enlistment numbers decline.
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David Vélez has built an $8 billion fortune turning nearly half of Brazil’s adults into users of his credit card, digital banking and loan products. Why can’t American fintechs do the same?
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Nikola, a cash-strapped maker of zero-emission heavy-duty trucks, said it has received grant funding from California to build some of the first U.S. fueling stations for hydrogen-powered semis.
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With no actual laws to regulate how AI can be used in political campaigns, it is on the platforms to determine what deep fakes users will see on their feeds, and right now, most are struggling to address how to self-regulate.
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Doreen Granpeesheh built the Center for Autism and Related Disorders, or CARD, into a national chain and sold it to private equity firm Blackstone in a $600 million deal. Now, in an unexpected twist, she is trying to buy the bankrupt company for a much smaller sum.
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Joe Kiani, the founder and CEO of Masimo, has spent $60 million fighting the nearly $3 trillion company in court over the Apple Watch, but he’s also facing a boardroom battle over his own consumer tech push.
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Backed by Microsoft, Nvidia and billionaires Reid Hoffman, Bill Gates and Eric Schmidt, the startup led by ex-DeepMind leader Mustafa Suleyman is valued at $4 billion — and claims to have the world’s best AI hardware setup.
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Even though recreational marijuana use is now legal in 23 states and most Americans support ending the federal ban, investors, entrepreneurs and politicians are no longer high on it happening in the next 10 years.
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The video editing software, designed for “talking videos,” has been used by 3 million creators to date and stands at a $250 million valuation.
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Two cases pitting an aggressive SEC against the largest U.S. cryptocurrency exchange could clarify the legal status of digital assets — or finally force the politicians to do so.
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Hydrogen formed deep underground by natural processes could be a major new source of untapped carbon-free power — and unlike oil or gas, the supply is virtually unlimited.
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Let’s debunk some of the myths around this buzzy new technology.
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“Glock switches” and “auto sear” seizures are on the rise, experts say, but despite the fact they’re illegal, buying them is just a search away.
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As the FDA issues guidance on psychedelics, the 46-year-old entrepreneur hopes his financial pledge will inspire others to invest in psilocybin, MDMA and other hallucinogens with potential mental health benefits.
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The 7-foot-5 French sensation went No. 1 in the draft and could earn more than $12 million next season — outside of endorsements. Not bad for a 19-year-old.
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At Cortical Labs, CEO Hon Weng Chong and his team have trained human brain cells on a computer chip to play the classic video game Pong. Chong is now turning the Australian startup’s technology into biological computers that he hopes will not just surpass AI, but supercharge growth of other companies.
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From Predator to Doctor Dolittle, John Davis is one of Hollywood’s most prolific producers. Now he’s using his playbook for success on fast-casual dining chains and trying not to eat too much of it.
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The Chinese shopping app has racked up over 70 million downloads in less than a year with a flood-the-zone offensive that emphasizes adding new customers over profit.
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TikTok has said under oath that Americans’ data has always been stored outside China. Now it’s saying there are big exceptions for creators — who it claims it treats differently than “typical users.”
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Real estate entrepreneur Alexandre Rizk recently opened The Lexi, the first hotel in Sin City to allow guests to smoke weed in their rooms, with plans to take it national. Welcome to the world of the highest rollers.
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The greatest soccer player in the world made a smart move choosing Florida, a state with no income tax.
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Steering solar panels to track the sun made Ron Corio the Land of Enchantment’s richest person. Now, he’d prefer to remain out of the spotlight.
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With $100 million in funding, Niron looks to scale up production of permanent magnets without using rare-earth materials from China, which pose a national security risk.
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The venture firm made a repeat investment in Munjal Shah, but his previous company Health IQ is facing allegations of millions in unpaid invoices, tens of millions in debt — and one lawsuit is alleging fraud.
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The initial segment of the country’s most expensive infrastructure project is getting a utility-scale clean power system.
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CEO Changpeng “CZ” Zhao’s mysterious associate Guangying "Heina" Chen emerges as a key player in his company’s operations, which are the subject of a recent lawsuit from the SEC.
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To ensure a steady supply of the customer favorites, the retailer built a slaughterhouse from scratch in a state better known for its beef, a feat that poultry leader Tyson couldn’t pull off. Forbes got a rare look.
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A new law threatens to demolish an $85 million market for the home-sharing behemoth — but the Big Apple is just a small piece of its pie.
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Seven years ago, two twentysomething data scientists spotted a novel phenomenon: synthetic identity fraud. They turned that discovery into fast-growing SentiLink, a member of the Fintech 50 for 2023.
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The former president predicted a merger back when it seemed inconceivable. Now, with his Saudi connections, he hopes to get back in the game.
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Paige Mycoskie, who is now worth an estimated $380 million, unveils expansion plans for her trendy clothing brand including new stores and product lines.
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Stability AI became a $1 billion company with the help of a viral AI text-to-image generator and — per interviews with more than 30 people — some misleading claims from founder Emad Mostaque.
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Former LNG exec Meg Gentle says it’s serious, and some smart money, including from Porsche and Baker Hughes, agrees with her.
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The first-ever Black investor on the Midas List of the world’s top venture capitalists, Ajao is looking to generate big impact — and profits — at Base10 Partners.
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The soccer pitch is filled with more green than ever. The increase in values wasn’t fueled by revenue, but rather by the higher enterprise multiples that buyers are paying for teams.
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After marijuana was legalized, countless unlicensed dispensaries and pot shops flowered around the city. Now Mayor Eric Adams says the partying’s over.
Three scientists and engineers from Forbes’ 30 Under 30 list have paved the way for Moon and Mars settlements with refueling stations and homemade oxygen–and made friends with robots along the way.
It’s hard to get hired fresh out of college — doubly so if you are graduating from an under-the-radar school or don’t have plugged-in parents. Forbes 30 Under 30 alum Garrett Lord built Handshake to help.
Why would anyone spend 50 hours buried alive just to make a YouTube video? Jimmy Donaldson—a.k.a. “MrBeast”—had 54 million reasons last year. The world’s top-earning creator is already worth $500 million—and thinks he can double that.
The supermodel has lent her image to brands like Jimmy Choo, Levi’s and Saint Laurent. Now she’s taking control of her name and her future with Rhode Skin, a skincare company with a waitlist that’s drawn a total of 700,000 people.
It seems that nothing can stop hip-hop superstar Megan Thee Stallion from building an empire worthy of her role model, Beyoncé.
The baseball mega-agent sets a record with commissions of up to $191 million, leading a group of 15 managing over $20 billion in active playing contracts.
The FTX founder blew into the island nation with promises of prosperity and philanthropy. After he allegedly oversaw the use of customer deposits to fuel risky crypto trading, Bankman-Fried’s empire collapsed — and Bahamians are reeling from yet another scandal.
CAA now manages contracts that could be worth nearly $1 billion in commissions, leading a group of juggernaut agencies that are pulling away from their smaller rivals.
Bill Stone has been pumping money into Evansville’s medical sector to revitalize its downtown and create new jobs. He’s hoping other philanthropists from small cities follow his lead.
Holiday season 2022 could be the first of many ravaged by bird flu as the worst-ever U.S. outbreak has yet to be contained.
John J. Ray III, a veteran of Enron, Fruit of the Loom and other bankruptcies, now must pick up the shattered pieces from Sam Bankman-Fried’s chaotic reign.
Jeremy Jordan-Jones signed on seasoned executives for his crypto cannabis payments startup Amalgam by touting big-name customers and big revenue numbers — that didn’t exist.
French superstar Kylian Mbappé reigns supreme while Argentina’s Lionel Messi and Portugal’s Cristiano Ronaldo are chasing international glory one final time.
Plug Power’s long-time CEO is repositioning the fuel cell maker to be a producer of hydrogen fuel made from water and renewable power to cut climate-warming industrial carbon pollution from the steel, oil and agricultural industries.
Crypto insiders paint a picture of a charismatic tech founder who became the darling of high-powered investors, even as he was brazen about his cryptocurrency exchange’s shaky business model and kept the books closed to all but a few confidants.
Like stock certificates sprinkled with pixie dust, inflated exchange tokens were at the core of FTX’s spectacular collapse. They are still in widespread use at major cryptocurrency exchanges around the world. Will they be crypto’s undoing?
An exclusive Forbes investigation unmasks the pair of slick promoters who appear to have made millions pumping and dumping EthereumMax and other now virtually worthless crypto tokens.
After two oil executives made $1.6 billion for the family of late wildcatter J. Cleo Thompson and helped defend them against T. Boone Pickens, the Thompsons rewarded them each with $100 million bonuses. Then they tried to claw it all back.
Sam Bankman-Fried succeeded in seducing a lot of the crypto world. Now comes the morning after.
Relative to other crypto-exchanges, transparency and regulatory compliance were virtues for Bankman-Fried’s FTX. Here’s a glimpse of the exchange’s operations, according to data provided by its own general counsel, as of August 2022.
Billionaires may be considered paragons of success, but they aren’t all wise investors — especially when it comes to politics.
The new British monarch lords over seven palaces, 10 castles, 12 homes, 56 cottages, and 14 ancient ruins where he can hang up his crown.
What’s old is new again. Classic literature and rock n’ roll dominates this year of celebs making bank in the afterlife.
John Middleton of the Phillies and Jim Crane of the Astros built their fortunes in very different ways.
Founder Jesse Powell’s anti-establishment ethos helped fuel the company’s growth into a leading global crypto exchange. But as Kraken matured, Powell became a liability. His recent departure means there are now four empty offices in the exchange's top echelon.
The Bronx Bombers are the most valuable team in baseball, and in large part because of the late George Steinbrenner’s moves, his heirs are billionaires.
A new Forbes analysis of data from Equilar shows that just about whatever number you come up with, it’s probably too high.
A Georgia inmate used contraband cell phones to assume the identity of California billionaire Sidney Kimmel, according to a bombshell report earlier this month in the Atlanta Journal-Constitution.
Most U.S. billionaires have a college degree, but these self-made superstars built their fortunes with just a high school diploma, if even that.
The project, assigned to a Beijing-led team, would have involved accessing location data from some U.S. users’ devices without their knowledge or consent.
At age 51, she landed her family a reality TV show that would change everything. Fifteen years later, the “momager” still gets a cut of her kids’ 15 businesses and, more recently, is striking out on her own.
Joe Kiani surmounted overwhelming personal and professional odds to build a better blood oxygen monitoring device. So why should he be afraid to push his scrappy company into consumer electronics, challenging firms 100 times its size?
Forbes found several yachts owned by sanctioned Russian and Russian-born billionaires that reclassified themselves houseboats and “reflagged,” or changed their registration, from British tax havens to more Russian-friendly spots.
Alphabet’s Sundar Pichai, Accenture’s Julie Sweet and more than 30 others are bringing private sector muscle to a very American (yet controversial) cause.
Soo Kim turned around the fortunes of the Bally’s brand, landing an iconic property in Las Vegas and will soon be bringing the first casino to Chicago. His next big gamble? Television.
For many teenagers, the reading and writing platform is a creative and educational outlet. But a Forbes investigation found that it’s also a place where sexual predators target and exploit vulnerable teens, in some cases leading to sex trafficking and assault.
As Hurricane Ian lashed western Florida, power went out for 2 million homes and businesses. Thanks to the American Public Power Association’s activation of what’s known as the mutual aid network, energy utility workers from companies across 18 states are descending on Florida to help repair its electric grid.
Helium was touted as the best real-world use case of Web3 technology. But as it struggles to generate revenue, a Forbes investigation found that executives and their friends quietly hoarded the majority of wealth at the project's inception.
Extreme weather and high fuel prices have been daunting obstacles for American food producers, but the good news is wheat and soy yields are up compared with last year.
Israeli facial recognition tech is now in use at casinos in the U.S, raising concerns about how private entities will use powerful surveillance tools.
In a flurry of updates just before the Department of Transportation’s brand new Aviation Consumer Protection website went live Labor Day weekend, the largest U.S. airlines have shored up their written customer service agreements, spelling out exactly when they will provide meal vouchers for customers whose flights are significantly delayed and hotel vouchers for passengers stranded due to canceled flights.
Williams, who in 2019 was the first professional athlete to make Forbes’ list of America’s Richest Self-Made Women, has quietly built a venture capital presence.
The Artemis mission, scheduled to liftoff Saturday, is to establish permanent human settlements on the Moon and, if all goes well, Mars.
If he had won the FedEx Cup last weekend, Scheffler would have set a new record for on-course earnings in a single PGA Tour season, blowing away the mark set by Rory Mcllroy in 2019. Despite only coming in second behind McIlroy at the Tour Championship, it's hard to overstate Scheffler's dominance so far this season and his earnings potential for the future.
A new Forbes analysis of 157 crypto exchanges finds that 51% of the daily bitcoin trading volume being reported is likely bogus.
The U.S. Open, which begins today in New York, will be missing some familiar faces, but young stars are taking their place among a top ten who collectively earned $316 million over the last year.
Tariq Trotter, also known as “Black Thought” — the lead emcee for the Grammy-winning band The Roots, which is the house band on The Tonight Show Starring Jimmy Fallon — recently announced that he would be joining the venture capital firm Impellent Ventures.
The TikTok parent company owns a diverse set of companies across sectors including news, video gaming, and education, in addition to its short-form video apps.
In 2020, Adam Neumann’s family office became a lead investor in real estate tech company Alfred. Less than two years later, the ex-WeWork CEO announced a new venture, Flow, with $350 million in funding. Its similarities to Alfred’s business raise questions about Neumann’s motives — and concerns about possible conflicts of interest.
With skyrocketing revenue and mouth-watering profitability, NFL teams are now worth $4.47 billion on average, 28% more than just a year ago.
Hospitals have long used ultraviolet light to zap viruses, but the devices were too expensive for businesses and schools. Spurred by the pandemic, an unlikely trio started R-Zero to develop a lower-cost alternative — and was just featured on our latest list of Next Billion-Dollar Startups.
Tim Dunn’s CrownRock kept the pedal to the metal throughout the pandemic and doubled its output in time for oil’s spike to $100. Now the new billionaire is pumping his opportunistic windfall into his church and his state — but not his government.
Another crypto lender is fending off forced liquidations, and more firms laid off hundreds of workers this week—marking the latest casualties of a bear market that continues to leave a path of destruction in the digital currency sector.
A paper presented by researchers at NYU and KU Leuven earlier this month at the USENIX Security Symposium suggests that Facebook's Ad library transparency tool may be deeply flawed.
Founded by Dr. Iman Abuzeid and Rome Portlock in 2017, Incredible Health works as something like a souped-up LinkedIn for nurses. The company is now valued at $1.65 billion.
Serial entrepreneur Bill Smith launched Landing in 2019. The furnished apartment rental firm expects $200 million in revenue this year by catering to the work-from-anywhere generation.
With markets down and tech investors skittish, it’s been a challenging year for young, venture-backed startups. These are four examples of the 25 on our list that represent the ones we think have the best chance of reaching a billion-dollar valuation.
State fairs seem like holdovers from a bygone era, but it’s also a big-dollar business, measured not just by ticket sales but by its impact on the vendors, the seasonal workers and the folks who live down the street and sell parking spots on their front lawns. Here are how things look for the 2022 season.
With limited revenue, astronomical signing bonuses and enormous purses, LIV Golf has run up quite a tab. But the real surprise is that Saudi Arabia’s nascent golf super league isn’t just “sports washing.” It could turn a profit — and soon.
LinkedIn profiles for hundreds of ByteDance employees reveal close connections between the company and China’s propaganda industry.
Disney shares are up 5% following last Wednesday’s third-quarter earnings report that surpassed expectations, largely due to higher spending at the company’s domestic theme parks.
After more than two years of remote work-fueled meeting bloat, many professionals are struggling to balance the reemergence of pre-pandemic norms — in-person lunches and conferences, business travel and networking dinners — with calendars that haven’t yet moved on from the back-to-back virtual meeting load.
Football’s top ten earners are demolishing records, hauling in a combined $489 million as the world’s most valuable sports league continues its ascent.
Miso head Victor Ching is aiming to replicate his app’s success in home cleaning to sweep up new business at home and overseas.
How Fivetran cofounders George Fraser and Taylor Brown became flush by piping data around the cloud.
Sixteen years ago, Tesla CEO Elon Musk announced his goal of building the first truly low-cost electric family car. Now General Motors has beaten him to it.
Illinois husband and wife Richard and Elizabeth Uihlein are working to reshape the Right with profits from their privately held shipping products empire. Are they the next Kochs?
Unsatisfied with an 80% market share in the home generator business, CEO Aaron Jagdfeld has big ideas for home microgrids.
A largely unsecured cache of pictures of children being sexually exploited has been made available to third-party TikTok content moderators as a reference guide, former contractors say.
A new Forbes survey of the world’s richest people found many still do household chores like taking out the garbage and grocery shopping.
Thanks to Saudi Arabia’s bottomless well of petrodollars, LIV Golf has boosted the earnings of the top ten golfers by an estimated $370 million since June, bringing their combined haul to a record $650 million over the last 12 months.
Thanks to overregulation and overtaxation, the U.S. government has blown the easiest revenue opportunity ever — legalized drugs. But it’s not too late to save the $72 billion cannabis industry from the perils of prohibition.
The 45th president was chained to money-losing real estate and drowning in debt when he left office. Now, magically, he is flush with cash and free to deal — thanks to a little help from powerful friends.
Redwood Materials, a battery recycling and materials company started by Tesla cofounder JB Straubel, will spend $3.5 billion through the end of the decade on a plant in Nevada making cathodes and other essential components for electric vehicle batteries.
If 2021 was the year of plentiful venture capital and bloated valuations in fintech, 2022 is shaping up as the year of downsizing, with cuts ranging from dramatic and very public layoffs to unannounced staff winnowing.
Garbage was the ultimate commodity business until a young McKinsey consultant saw how Republic Services could transform itself into a profit machine by pricing all sorts of trash at a premium. Now he’s CEO of the outperforming junk giant.
Old tricks at the self-checkout machine — like trying to pass off a bottle of vintage Bordeaux as a banana— are becoming harder to get away with.
The company makes a killing with low-cost, no-frills mobile versions of puzzles, word games and old favorites such as solitaire, intentionally steering clear of the jackpots the industry loves to chase.
Flipping traditional aid schemes on their head, GiveDirectly has been handing out cash grants — with no strings attached — for more than a decade. In 2020, it became the fastest-growing nonprofit in the world.
More Covid lockdowns in China would be “another headache” for the Federal Reserve in its battle against inflation, experts say, though global supply-chain bottlenecks are easing.
The 11-year-old ed tech unicorn led by Under 30 alumni Sam Chaudhary and Liam Don was quietly valued at $1.25 billion by Tencent last fall as part of its virtual push.
There’s a bright side to the market doldrums, says General Catalyst managing partner Hemant Taneja: stronger companies will rise to the top as frothiness subsides.
A Forbes investigation found that Chris Kirchner, of the $240 million Goldman Sachs-backed startup Slync.io, fired executives after they asked questions about the company’s funds. Now, he’s facing a lawsuit for wrongful termination and claims of “fraudulent behavior.”
In a breakthrough for the country’s most expensive public infrastructure project, California’s bullet train finally appears to have the money and the legal approval to complete its first leg.
Challenges abound as industrial agriculture is threatened by access to key resources from water to healthy soils.
Donald Trump never stopped raising funds from his supporters after the 2020 presidential race. His companies, meanwhile, continued to charge his political outfits for goods and services. As a result, the former president has been able to convert about $1.3 million of donor money into business revenue since he lost the 2020 election, according to a review of the latest federal filings.
More than two decades after turning down a $120 million offer from Quaker Oats, Gary Erickson and Kit Crawford, the majority owners of Clif Bar, have agreed to sell the energy bar company to snack giant Mondelez for $2.9 billion.
Parker Conrad, ex-CEO of Zenefits, is now worth $2.2 billion thanks to the success of his new HR software startup Rippling. His cofounder is also a billionaire.
Take pent-up travel demand that’s a hangover from the pandemic. Add a pilot shortage and a months-long war that continues to drive up gas prices, and you’ve got the perfect storm for travelers over Independence Day weekend.
Andrew Forrest travels the globe trying to persuade leaders of industry and politics — and rank-and-file workers — that despite his polluting past he’s the man to champion green hydrogen as the clean fuel of the future.
One of them, Rob Walton, just led a family group to bid $4.65 billion for the Denver Broncos NFL team. Here are some of the other heirs that rank the highest on Forbes’ list.
John Leonard built Intellia Therapeutics with Jennifer Doudna, the Nobel Prize-winning scientist who pioneered gene editing technology. The company has figured out how to alter disease-causing genes inside patients, but before any breakthrough treatments come, it must first cure itself of its legal and financial ills.
Betsy Cohen, a lawyer, financier and entrepreneur, has been smashing glass ceilings since Richard Nixon was president — and she’s not slowing down.
Women sharing nursing images on the internet are seeing their intimate moments with children taken out of context or used without consent as pornography.
Tiffany & Co. has delayed its departure from Trump’s 6 East 57th Street location in New York City, a property the jewelry company has occupied for the last few years while it renovates its flagship Fifth-Avenue location next door. The move has allowed Trump to maintain a glitzy retailer in his building at a time when both ecommerce and the coronavirus have made it challenging to fill big storefronts.
Ark’s flagship ETF is crashing but Wood is doubling down, increasing her stake in her firm and betting on tech outfits like Tesla, Zoom and Coinbase to eventually rebound.
As the world opens back up and industries from travel to hotels rebound from the depths of the Covid-19 pandemic, South Korean travel superapp Yanolja posted strong first-quarter sales growth in its first-ever quarterly report as it prepares to go public. The report, released last week, also revealed founder Lee Su-jin’s stake in the company, officially making the former janitor a billionaire.
A Forbes legal challenge forces the unsealing of documents that reveal for the first time the scope of secretive surveillance orders that track the movements of individuals around the globe. Critics say the government isn’t doing enough to inform the public about the unusual initiative, which involves multi-billion-dollar private companies.
A pair of twentysomethings from Uganda and Ghana thought there was a fortune to be made bringing transnational financial services to Africa’s 1.2 billion people. With 5 million users, San Francisco-based Chipper Cash is just getting started.
After being drummed out of Silicon Valley as a Trump-supporting hawk, the onetime VR wunderkind Palmer Luckey is feeling vindicated. His $8 billion defense tech startup, Anduril, is arming Ukraine and building the weapons of the future — before the Pentagon even knows it wants them.
Rob Walton, an heir to the Walmart fortune, will win the bidding for the Denver Broncos at about $4.5 billion, several sports bankers told Forbes. None of the other groups reportedly still in the hunt come close to Walton’s wealth. As one banker put it, the Broncos are Walton’s if he wants them. If so, the Broncos sale would be the most expensive for a sports team in history.
He missed the playoffs for just the fourth time in 19 seasons but LeBron still scores as the first active NBA player to make our Billionaires list.
Less than 24 hours after Israel and the United Arab Emirates signed a monumental free-trade agreement, hundreds of young entrepreneurs gathered in Jerusalem last week to pitch peaceful solutions of their own.
Hydrogen, the universe’s most abundant element, has been an elusive clean fuel option for decades, bedeviled by the difficulties of generating the energy-packed element in an efficient, low-cost method and without carbon emissions. CoorsTek, a low-key giant in the world of engineered ceramics, says it has a highly efficient new method to make hydrogen fuel that works with existing energy infrastructure.
At age 60, Giuseppe Crippa accepted a buyout package and started making devices to test microchips. In February, his company Technoprobe, whose clients include Apple and Samsung, finally went public.
From marijuana farm tours to “bud and breakfast” hotels, American destinations are discovering that “canna-cations” aren’t just for stoners anymore.
The pandemic killed demand for oil and gas, leaving the world vulnerable to Vladimir Putin’s supply-side punch. The upside? Widespread shortages and sky-high prices will finally force meaningful investments in alternatives and even pariahs like nuclear and wood.
Billionaire brothers John and Patrick Collison built Stripe into one of the world’s most-hyped, highest valued — and profitable — startups, worth some $95 billion. Now they must stave off going from disruptor to disrupted.
The piles of cash thrown off by European soccer competitions is a big reason why Real Madrid, worth $5.1 billion, 7% more than last year, has reclaimed its spot as the world’s most valuable soccer team.
Forbes teamed up with market research company Statista to identify the 300 organizations most liked by workforce entrants in our annual ranking.
Forbes compared more than 800 locales in America on everything from housing costs and taxes to healthcare, air quality, crime and climate change and natural hazard risk. These are the top 25 cities for retirees.
The AI-powered company is unlocking the hidden healing potential of plants by finding active compounds that could target specific conditions. Next up: diabetes and sleep disorders.
Lionel Messi leads a group that collectively earned more than $990 million in 12 months, with the bar for entry higher than ever.
According to official estimates from the CDC, Johns Hopkins University and other organizations that collect public health data, the United States is nearing the grim milestone of one million deaths from Covid-19.
This year’s inductees reflect the booming VC interest as well as the growing variability in AI-focused startups making unique uses of existing technologies, others developing their own and many simply enabling other companies to add AI to their business model.
Our seventh annual Forbes30 Under 30 Europe list illustrates the power young entrepreneurs and leaders have to transform business and society. The 300 visionaries featured on the 2022 list have persevered, innovating and collectively raising more than $2 billion in funding for their ventures — more than double the amount raised by last year’s honorees. Flush with cash, it’s no surprise that 80% of our listers believe the European economy is ripe for entrepreneurship.
The CEO of state-owned oil company Rosneft has long been considered Vladimir Putin’s unofficial second-in-command. Sechin’s unwavering loyalty to Putin over the past two decades has made him extremely wealthy. Most of his known fortune tied up in superyachts that have been frozen or seized by Western authorities.
The meme generation that has been trading using the Robinhood app is encountering a potential bear market for the first time. In the last decade, the era of cheap money sent corporate profits and stocks soaring, and DIY investors grabbed hold and went along for the ride. Now many of them are realizing stock investing isn’t as exciting without the joy of winning.
As emails and social media ads have become less effective, retailers are increasingly turning to texts, the once-private domain reserved for conversations with family and friends.
Israel’s is one of the most common second passports among Russian-born billionaires, and a crackdown on so-called “golden passport” programs in Europe means it’s only going to get more popular among the super-rich looking for a quick escape.
The notorious whistle-blower acknowledges he was the sixth person who participated in an elaborate 2016 ceremony that led to the creation of zcash, a leading privacy protecting cryptocurrency.
The global supply-chain mess, prompted by a surge in consumer demand at a time when factories and logistics companies were hobbled by coronavirus-related lockdowns, is not over, with many companies now saying their main struggle is paying sky-high shipping rates and a list of fees for goods delayed at the nation’s slammed ports.
No. 15 seed Saint Peter’s advanced all the way to the NCAA tournament’s elite eight. But on Sunday night, the team’s run came to an end when they suffered a 20-point loss to perennial powerhouse and No. 8 seed UNC. Before that, the improbable surge of the small Jersey City-based Jesuit college had made it this year’s college basketball Cinderella story, the seemingly annual surprise that transforms once-overlooked underdogs into the belles of the March Madness ball.
Big-market teams are likely to benefit the most from new sponsorships that are part of the new MLB collective bargaining agreement. This is one reason the New York Yankees are now the first baseball team worth $6 billion and trail only the Dallas Cowboys, at $6.5 billion, among the sports world’s most valuable teams.
Tens of millions of people, from Europe to Asia, Africa to the Middle East, are expected to go hungry this year due to a grim combination of factors made significantly worse by Russian President Vladimir Putin’s unprovoked war in Ukraine.
About 45 million Americans plan to wager $3.1 billion on this year’s NCAA Men’s Division I tournament, according to a new report by the American Gaming Association. The majority of the money bet during March Madness will be through mobile apps and websites — not through brackets.
Executives are reassessing the value of work trips in a new normal where web conferencing is not only essential but, for many in the workforce, preferred. The challenge for the business-travel sector, of course, is that even if Covid eventually goes away, Zoom will still be here.
Everyone has a slightly different take on what constitutes comfort food, but it usually involves carbohydrates, a dash of nostalgia and what people crave when they feel stressed. There’s been plenty of stress in the last two years and likely more to come. Americans have flocked to comfort food in what advertisers used to say, over and over, “these uncertain times.”
The worst of the pandemic is behind us, experts told Forbes, in part because the first two years provided valuable tools for the continued fight against both Covid and future disease epidemics. Ignoring the pandemic in lower-income countries, they say, could mean new variants making their way back to the U.S.
As stay-at-home orders swept across the country in March 2020, Americans got high, got drunk, and turned to porn in order to cope with the many fears and anxieties that were symptomatic of the pandemic.
Russia’s invasion of Ukraine not only has American travelers rethinking trips to Europe, but it is likely to negatively impact travel plans within the United States this spring and summer. For consumers looking for strategies to save at the pump, here are some easy ways to take gas prices down a notch.
New York Attorney General Letitia James is investigating Trump’s dealings at the property, called Trump National Golf Club Los Angeles, as part of her probe into whether Trump exaggerated the value of his holdings to his lenders, insurers and the Internal Revenue Service.
DAOs, or decentralized autonomous organizations, are essentially leaderless collectives often operating in the NFT and crypto world, in which groups democratically make investment decisions. While the headlines about DAOs tend toward the splashy or the silly, a new model is emerging that has real legs as an alternative investment vehicle.
With equipment that is so clunky yet so delicate, it’s never easy getting a bobsled from Point A to Point B. As Team USA’s sleds hurtle down a mile-long ice track over these two weeks in Beijing, whipping around 16 banked curves in a minute or less, it will be just the final stretch of a global journey that required similarly precise coordination.
Forbes asked 45 companies affected by the AWS outages whether they use multiple cloud vendors or were considering doing so, and whether the recent AWS outages had prompted them to change their cloud strategy.
This year the food service industry is expected to hit $898 billion in sales according to the National Restaurant Association’s newly released State of the Industry report. This is a $99 billion increase over 2021 and a $220 billion increase over that unprecedented 2020.