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CION Invt

CION Invt Corp is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company. The Company's portfolio is comprised of investments in senior secured debt, including first lien loans, second lien loans, and unitranche loans, and, to a lesser extent, collateralized securities, structured products and other similar securities, unsecured debt, and equity, of private and thinly-traded U.S. middle-market companies. Its investment objective is to generate current income and, to a lesser extent, capital appreciation for investors.

CION Invt Corp

CION Investment Corporation 7.50% Notes due 2029

Iran's Foreign Minister&nbsp;Abbas Araghchi&nbsp;warned on Saturday, before the U.S. launched airstrikes on the country's nuclear facilities in Fordow, Natanz, and Isfahan, that if the United States got involved in the Israel-Iran conflict, the result would be "very, very dangerous" for everybody. The U.S. launched attacks on Saturday evening around 8:00 pm ET.
"The tweets, interviews by the U.S. President, [it's] quite clear that he&#8217;s talking about the U.S. leadership on these questions [of a potential U.S. involvement]," Aragachi told reporters, <a href="https://time.com/7296396/iran-new-warning-trump-united-states-israel-conflict-dangerous/">according</a> to Time Magazine. &nbsp;"Unfortunately, we have heard that the U.S. may join in this aggression. That would be very unfortunate and I think that would be very, very dangerous for everybody."
President Trump announced the Iran strikes on <a href="https://truthsocial.com/@realDonaldTrump/posts/114724035571020048">Truth Social</a>. 
&#8220;We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter.&#8221;
Trump had previously indicated that the U.S. was not involved in the Israeli strikes and that he was intending to give the situation two weeks, implying that U.S.-Iran negotiations were a possibility. Iranian officials replied that talks would not be helpful while Israeli attacks continued.
"In order for us to come back to diplomacy, the aggression should be stopped," Araghchi said. "I cannot go to negotiation with the United States when our people are under bombardment, under the support of the United States."
Following Saturday&#8217;s U.S. bombing, Iranian officials said the country's nuclear agency had already moved all relevant nuclear material from the three sites that were hit, according to MSNBC.
Trump has stated multiple times in the first months of his second term that a deal with Iran would have to include a ban on the nation&#8217;s enriching uranium—something that would allow them to produce nuclear weapons.
He has also called for something more permanent than a cease-fire. 
"We&#8217;re looking for better than a cease-fire," Trump told reporters on Air Force One on June 17 as he left the G7 summit. "A real end, not a cease-fire. An end… giving up, entirely."
Meanwhile, following Saturday&#8217;s U.S. air strikes, Iran has said all communications inside the country had been cut to avoid what officials have called &#8220;Israeli infiltration.&#8221; Per reports, chaos and insecurity have deepened on the ground among Tehran&#8217;s approximately nine million residents.
Photo: Shutterstock

News

Politics

Iran Calls US Bombing Of Nuclear Sites 'Very, Very Dangerous For Everybody'

<a href="https://trumpstruth.org/statuses/31603" title="https://trumpstruth.org/statuses/31603">https://trumpstruth.org/statuses/31603</a>

General

iShares MSCI Israel Capped Investable Market Index Fund

President Trump Says 'I will be giving an Address to the Nation at 10:00 P.M., at the White House, regarding our very successful military operation in Iran.'

<a href="https://trumpstruth.org/statuses/31599" title="https://trumpstruth.org/statuses/31599">https://trumpstruth.org/statuses/31599</a>
<a href="https://trumpstruth.org/statuses/31599" title="https://trumpstruth.org/statuses/31599">https://trumpstruth.org/statuses/31599</a>

Macro Notification

President Trump Says 'We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan.'

Billionaire entrepreneur <a href="https://www.benzinga.com/personal-finance/entrepreneurship/25/06/45938396/mark-cuban-talks-about-his-struggles-during-his-first-company-i-didnt-take-a-vacation-for7-years">Mark Cuban</a> is known for shaking up industries — and he continues to propose bold ideas to reform the <a href="https://www.benzinga.com/personal-finance/25/02/43420762/us-health-care-ranks-last-among-wealthy-nations-study-reveals-despite-highest-spending-people-have-lower-than-average-life-expectancies">U.S. healthcare system</a>. In a series of posts on X, Cuban laid out a framework that shifts power away from insurance companies and toward patients and providers.
<h2 class="wp-block-heading">A Broken System: Clawbacks and Underpayments</h2>
Cuban's comments came in response to a <a href="https://x.com/WallStreetApes/status/1934638014090883517">video</a> shared by @WallStreetApes, highlighting an American surgeon's experience with insurance "clawbacks."&nbsp;
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According to the post, the surgeon submitted a bill for a patient's surgery and received only one-third of the requested payment from the insurer. Months later, the insurance company demanded a refund — claiming it had overpaid — and withheld future reimbursements when the surgeon didn't comply quickly enough.
Cuban <a href="https://x.com/mcuban/status/1934826764024598679">weighed in</a>: "This is one more reason why companies should direct contract with providers. Insurance companies underpay providers all the time."
<h2 class="wp-block-heading">Cuban's Healthcare Vision: A Cash-Pay, Patient-Centered Model</h2>
Asked what he would do if he were in charge of U.S. healthcare, Cuban offered a multi-part <a href="https://x.com/mcuban/status/1934826764024598679">response</a>. His ideas center on patient choice, price transparency, and shared responsibility between patients and the government.
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
Under Cuban's suggestions:
<ul class="wp-block-list">
<li>Patients would choose any provider offering a "cash pay" option with publicly posted prices.</li>
<li>Patients would commit to paying what they can afford — supported by documentation.</li>
<li>The government would finance the remaining cost.</li>
<li>Patients would repay the government through paycheck deductions, capped at 10% of income.</li>
<li>After 15 years, any remaining medical debt would be forgiven without penalties.</li>
</ul>
"There would be zero premiums to insurance companies," Cuban wrote. Instead, individuals would pay $400 to $500 monthly for family "re-insurance," capped at $50,000 annually. This limit would prevent patients from facing catastrophic costs.
<h2 class="wp-block-heading">No More Middlemen: Eliminating Insurance and PBMs</h2>
Cuban's framework removes <a href="https://www.benzinga.com/25/05/45458113/mark-cuban-blasts-health-insurance-companies-as-the-worst-of-the-worst-says-it-should-be-criminal-to-charge-5k-deductibles-to-people-making-25k">traditional insurance companies</a> and pharmacy benefit managers from the equation entirely. He has long said that these intermediaries drive up costs without improving care.
He also suggests eliminating employer-provided health insurance, allowing people to buy private plans if they wish, and switching <a href="https://www.benzinga.com/personal-finance/management/25/06/46014120/social-security-and-medicare-funds-could-run-dry-earlier-than-expected-new-report-shows">Medicare</a> and Medicaid to net pricing for prescription drugs.
See Also: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a>
<h2 class="wp-block-heading">Concerns About Rising Prices and Access</h2>
While Cuban's ideals about the U.S. healthcare system are praised by some as a fresh take focused on incentives rather than buzzwords, it also raises questions.&nbsp;
Entrepreneur and investment educator Matt Allen <a href="https://x.com/investmattallen/status/1934830618530992291">asked</a> what would prevent providers from raising prices once the government covers the balance. He also pointed out the issue of limited provider choice in rural areas, where patients can't easily shop for lower-cost care.
Cuban <a href="https://x.com/mcuban/status/1934833030377685333">responded</a> that because patients are still financially responsible — through paycheck deductions — they'll be motivated to shop for value. Providers, in turn, would have to compete on price and service. "But it's not free money," he added. "Patients will have to pay out of their paycheck every month.&nbsp; They are on the hook for the care no matter what."
<h2 class="wp-block-heading">A Conversation Starter, Not a Final Plan</h2>
Cuban emphasized that his ideas are a work in progress and based on his companies, not finalized policy. Still, his willingness to outline a detailed approach sparks renewed discussion around healthcare reform — particularly around affordability, transparency, and who should bear the burden of cost.
For many Americans frustrated with rising premiums and complex billing practices, Cuban's approach might offer a starting point for reimagining care.
Read Next: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Image: Shutterstock

Personal Finance

Mark Cuban Says Patients Should Pay What They Can, And The Government Covers The Rest — With 15-Year Forgiveness

When a Reddit user recently <a href="https://www.reddit.com/r/Salary/comments/1ldutd5/rant_net_worth_is_much_more_important_than_salary/">posted</a> a rant claiming that <a href="https://www.benzinga.com/personal-finance/24/12/42675663/think-youre-richer-than-your-peers-heres-the-net-worth-you-need-to-rank-among-the-top-10-for-your-age">net worth is more important</a> than salary, it sparked a heated debate. The post criticized people who flaunt six-figure incomes but have little to show for it. The author questioned the value of a high paycheck if it all disappears to debt and lifestyle costs. &#8220;Who cares what you make if you are still broke,&#8221; they wrote.
<h2 class="wp-block-heading">Net Worth Shows Discipline, Salary Shows Potential</h2>
The poster argued that plenty of six-figure earners live paycheck to paycheck and flex their income despite being buried in debt. &#8220;I would rather make 50k a year and have 250k NW, than 150k a year and be in debt,&#8221; they wrote, adding, &#8220;Having high NW displays financial discipline and competence.&#8221;
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</ul>
Some people agreed, pointing out that income is only one part of the story. &#8220;I worked with a guy who made over 100k,&#8221; one commenter wrote. &#8220;Refused to save anything, not even 401(k). He bought anything and everything he wanted. He&#8217;s still doing it.&#8221;
<h2 class="wp-block-heading">But High Earners Say They Can Turn Things Around Faster</h2>
Others pushed back, saying a high salary gives you more options and flexibility. &#8220;Give me the <a href="https://www.benzinga.com/personal-finance/25/02/43759794/are-you-a-top-1-earner-heres-what-you-need-to-rake-in-to-be-among-the-richest">high salary</a> and low net worth. Much easier to fix,&#8221; one person said.
Another argued, &#8220;That 150k [salary] can erase debt and build a 250k NW a hell of a lot faster than the 50k / 250k one can increase.&#8221;
A more detailed reply laid out how someone <a href="https://www.benzinga.com/personal-finance/management/25/06/45956996/are-we-being-lied-to-55-year-old-making-150k-says-he-thinks-hes-middle-class-but-everyone-else-appears-to-be-so-much-richer">earning $150,000</a> could contribute aggressively to retirement, get employer matches, and outpace someone with a smaller income within a few years. &#8220;You could waste ALL of your 126.5K minus taxes and end up with a quarter mill in 5 years,&#8221; the commenter explained.
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
<h2 class="wp-block-heading">Still, Many Agreed It All Comes Down to Habits</h2>
Despite disagreements, one consistent theme emerged: discipline matters more than raw numbers. &#8220;If you have an uncontrollable <a href="https://www.benzinga.com/personal-finance/25/05/45482962/some-45-of-gen-z-say-theyd-rather-cut-savings-than-give-up-eating-out-have-spending-priorities-gone-off-track">spending problem</a>, it doesn't matter how much you make,&#8221; a user wrote. &#8220;You can make 1 million a year and if you still spend 1.2 million you're an idiot.&#8221;
Another summed it up this way: &#8220;Net worth isn't always a sign of discipline but your post is well taken. If I made a million dollars per year for one year it doesn't make you rich.&#8221;
Several pointed out that net worth often includes illiquid assets like homes, which can inflate the numbers without improving someone's day-to-day finances. &#8220;You can't access your 401(k) without paying a penalty&#8230; unless your net worth is mostly comprised of cash in a mattress, a low salary and high net worth won't increase your buying power,&#8221; one user wrote.
See Also: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a>
<h2 class="wp-block-heading">The Verdict? It Depends</h2>
In the end, some people argued that the best position is to have both: a strong income and disciplined saving habits. Consistent contributions to your retirement—while increasing the percentage over time— and positive cash flow are even more important, as those will build your net worth over time.
A high income can fuel savings and investment, while net worth provides security when income slows down. Building both and understanding how they support each other is what creates lasting financial stability.
Read Next: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
Image: Shutterstock

Is Net Worth More Important Than A High Salary? Some Say Yes, Others Argue A High Salary With Low Net Worth Is 'Much Easier To Fix'

In the world of FIRE—that's short for financial independence, retire early—there's a lot of talk about <a href="https://www.benzinga.com/personal-finance/management/25/06/45935161/can-you-guess-how-many-people-retire-with-1-million-saved-hint-way-fewer-than-you-think">hitting the $1 million mark</a>. Some aim for more, especially with inflation, rising home costs, and uncertain market returns. But one <a href="https://www.reddit.com/r/Fire/s/quhvItrOyT">Reddit user posed a simple question</a> that cut through the big goals and got people thinking smaller:
"What is the smallest amount of money that would be life changing?"
They followed it up with a scenario many can relate to:
"If you were gifted x amount, how would it change your life? To get you closer to a FIRE lifestyle. For example, I often think, if I ‘just had an extra $300k' I could pay off my house and change to part time work."
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</ul>
That number—$300,000—struck a chord. It wasn't just a wild estimate. It was practical, down-to-earth, and repeated over and over.
One user wrote:
"$300k would be the number for life changing for me and my family."
They explained exactly why: "That would mean the last little bit of school debt goes away, selling our current home and moving out of town a ways to a property with at least an acre of land. It means college savings for kids, a little bit of padding to retirement, and two newer used vehicles that aren't 10+ years old."
They added, "I could do all that, probably with a few bucks left over."
Another put it bluntly:
"I don't need millions, just $300k."
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
Others went slightly higher. One user said, "$300-400k is probably what it would take for me to seriously reconsider any of my current plans."
One response pegged the minimum closer to $400,000. "Anything less would be great but not life changing." That amount, they said, would allow both partners in the household to semi-retire permanently.
There were some who shot higher. One said they'd need at least $1 million post-tax to feel a real shift in their life. Someone else responded that $500,000 would still mean five more years of work, and only $1 million would bring their timeline closer to two.
A few were stuck in a limbo of liquid assets and fear. One user said they had $120,000 nearly liquid but were still too scared to buy a home. Another said, "$60,000 would be enough for me to make a down payment on a house, which feels like the next big step in life." But they also admitted, "I have 100k saved in the stock market, and I'm just so attached to it at this point."
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The answers were scattered across the map—from $100 for a babysitter and a nice dinner out to $3 million for a stress-free early retirement with part-time work on the side. But $300,000 kept coming up. Not as a dream number, but as a number that felt real enough to change everything—without making anyone rich.
As one person summed it up:
"10k would just be debt. $100 would be a babysitter and a nice dinner out for my wife and I."
So <a href="https://www.benzinga.com/personal-finance/25/03/44150876/suze-orman-says-youll-likely-spend-350k-a-year-in-retirement-so-save-millions-you-dont-know-how-long-youre-gonna-live">maybe the real benchmark for FIRE</a> isn't just hitting a fat portfolio number. Maybe it's about figuring out what would let you breathe, slow down, or finally move out of a rental and onto your own land.
And for a surprising number of <a href="https://www.benzinga.com/money/are-you-rich">people chasing early retirement</a>, that number isn't seven figures—it's $300,000.
Read Next: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
Image: Shutterstock

'I Don't Need Millions—Just $300K' People Motivated To Retire Early Share The Smallest Amount Of Money They Consider 'Life-Changing'

Four top tech executives have joined the U.S. Army Reserve as lieutenant colonels, skipping basic training and stepping directly into roles aimed at helping modernize the military.&nbsp;
The initiative is part of a broader push by the Army to bring in private-sector innovation and reshape how the service approaches technology, talent, and modernization.
<h2 class="wp-block-heading">Army Forms Detachment 201 To Bridge Tech And Defense</h2>
The executives—Palantir (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) Chief Technology Officer Shyam Sankar, Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CTO Andrew Bosworth, OpenAI Chief Product Officer Kevin Weil, and advisor at Thinking Machines Lab and former OpenAI Chief Research Officer Bob McGrew — will serve in a new unit called Detachment 201, also known as the Army's Executive Innovation Corps.
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</ul>
&#8220;Detachment 201 is being created to bring in tech innovation executives to help the Army … on broader conceptual things like talent management, how do we bring in tech-focused people into the ranks of the military, and then, how do we train them,&#8221; Army Chief of Staff spokesperson Col. Dave Butler, told <a href="https://breakingdefense.com/2025/06/anduril-meta-openai-execs-to-commission-into-army-reserve-form-detachment-201/">Breaking Defense</a> on June 13.
Unlike traditional recruits, these executives will not attend boot camp. Instead, they will go through an express training program that covers marksmanship, physical fitness, Army history, and protocols. They will be expected to serve about 120 hours per year and pass annual fitness tests.
&#8220;You could think of it as a pilot&#8221; of a lighter version of basic training, Butler told <a href="https://www.businessinsider.com/tech-execs-just-joined-the-army-boot-camp-not-required-2025-6">Business Insider</a>.&nbsp;
The detachment's name, 201, references the HTTP status code indicating a newly created resource—a fitting metaphor for a new kind of Army asset.
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.
<h2 class="wp-block-heading">Not Just Symbolic: Executives Will Advise On Real Projects</h2>
According to an Army <a href="https://www.army.mil/article/286317">statement</a>, the new officers will work on &#8220;targeted projects to help guide rapid and scalable tech solutions to complex problems.&#8221;
Their advisory roles will include input on AI-powered military systems and optimization tools for soldier fitness. However, safeguards will be in place to avoid conflicts of interest with their current or former employers.
&#8220;We've done this over and over when our nation needed top talent,&#8221; Butler told Breaking Defense. &#8220;The difference is we used to do it in wartime. Now we're doing it ahead of wartime so that we can prepare and deter.&#8221;
This marks another move by the Trump administration to <a href="https://www.benzinga.com/markets/25/03/44209697/how-peter-thiel-and-elon-musk-are-shaping-trump-administration">align more closely</a> with Silicon Valley. Palantir, Anduril, and other VC-backed defense tech startups have increasingly become major players in national security. Meta recently <a href="https://www.benzinga.com/markets/market-summary/25/06/45810158/anduril-raises-2-5-billion-at-30-5-billion-valuation-doubling-in-a-year-as-defense-contracts-grow">partnered with Anduril</a> to develop augmented reality tools and AI systems for military use.
See Also: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a>
Historically, direct commissioning has been used to bring in specialized talent, such as doctors or chaplains, during times of war. This move represents a peacetime shift aimed at long-term transformation.
&#8220;Their swearing-in is just the start of a bigger mission to inspire more tech pros to serve without leaving their careers,&#8221; the Army statement said. &#8220;Showing the next generation how to make a difference in uniform.&#8221;
Read Next: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
Image: Shutterstock

PLTR

Palantir, Meta, OpenAI, And Thinking Machines Just Had Their Executives Sworn Into The US Army Reserve

Entrepreneur and &#8220;Shark Tank&#8221; investor,&nbsp;Kevin O&#8217;Leary, has expressed concern over the increasing difficulty Americans are experiencing in contributing to their 401(k) plans due to overspending. 
What Happened: Despite acknowledging&nbsp;the importance of 401(k) plans&nbsp;as a retirement savings tool, O&#8217;Leary points out that many Americans are struggling to make significant contributions due to their spending habits. 
He observes that many are living from&nbsp;paycheck to paycheck, burdened by&nbsp;debt, and holding unrealistic expectations of sudden wealth.
As per the report <a href="https://www.thestreet.com/retirement/shark-tanks-kevin-oleary-sounds-alarm-on-401-k-growing-problem">by</a> The Street, O&#8217;Leary proposes a &#8220;90-Day Number&#8221; calculation, which subtracts total expenses from&nbsp;total income over three months. A positive result suggests room for increased 401(k) contributions, while a negative result serves as a wake-up call to reduce spending and budget more effectively.
According to the 2025 first-quarter&nbsp;Household Debt and Credit Report&nbsp;from the Federal Reserve Bank&nbsp;of New York, total U.S.&nbsp;household debt has increased to $18.2 trillion, with credit card balances reaching $1.18 trillion, a 6% increase from the previous year.
Also Read: <a href="https://www.benzinga.com/news/24/10/41198968/kevin-oleary-told-student-to-pick-business-over-fianc-e-shes-easier-to-replace">Kevin O&#8217;Leary Told Student To Pick Business Over Fiancée: &#8216;She&#8217;s Easier To Replace&#8217;</a>
O&#8217;Leary highlights the peril of credit card debt, describing it as a &#8220;financial cancer&#8221; that impedes&nbsp;the ability to save and&nbsp;invest. He criticizes credit card companies for their high interest rates and argues that their profit model is heavily dependent on&nbsp;consumers who carry a balance&nbsp;month to month.
O&#8217;Leary believes that credit card companies safeguard this high-yield system by making&nbsp;credit easy to obtain and&nbsp;promoting&nbsp;spending behaviors that trap consumers&nbsp;in debt cycles. 
He encourages Americans to&nbsp;prioritize long-term security over short-term&nbsp;gratification and to make conscious financial decisions that will enable them to contribute adequately to their 401(k) plans.
Why It Matters: The rise in household debt and the difficulty in making 401(k) contributions are intertwined issues. The increasing reliance on credit and the cycle of debt it creates are significant barriers to retirement savings. 
O&#8217;Leary&#8217;s warning serves as a reminder of the importance of financial discipline and the need for effective strategies to manage spending and debt. His &#8220;90-Day Number&#8221; proposal is a practical tool that can help individuals assess their financial health and make necessary adjustments to their spending habits. 
This is crucial in ensuring long-term financial security and the ability to contribute to retirement savings.
Read Next
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Image: Shutterstock

Markets

Kevin O'Leary Highlights Growing Concern Over 401(k) Contributions Amid Rising Household Debt

A plot of land neighboring Jeff Bezos&#8216; property in Miami was sold for a staggering $105 million. The undeveloped lot was sold <a href="https://www.benzinga.com/news/24/01/36631415/this-amazon-applicants-interview-answer-earned-her-a-seat-3-feet-away-from-amazons-bezos">by German investor Mikhail Peleg.</a>
What Happened: The sale of the property on Indian Creek Island has set a new record for this ultra-exclusive location. The buyer of the property remains anonymous, but the transaction was made in cash, as per Forbes.
Peleg, a resident of Switzerland, bought the approximately 2-acre&nbsp;land in 2018 for $27.5&nbsp;million. Although he initially planned to build on the plot, the project was eventually abandoned. 
&#8220;When&nbsp;I purchased this property in&nbsp;2018, it was the highest&nbsp;sale price on the market,&#8221; Peleg told the <a href="https://nypost.com/2025/06/20/real-estate/mikhail-peleg-sold-his-jeff-bezos-adjacent-lot-for-105m/">outlet</a>. 
&#8220;People&nbsp;told me I was overpaying,&nbsp;that it wasn't a smart&nbsp;investment. But I saw the&nbsp;long-term potential in both the&nbsp;land and the vision we&nbsp;had for the property.&#8221;
The property, located&nbsp;at 9 Indian Creek Island&nbsp;Road, was&nbsp;listed for $200 million late&nbsp;last year. It drew attention due to its proximity to properties owned by Bezos. 
Also Read: <a href="https://www.benzinga.com/general/entertainment/25/05/45601150/jeff-bezos-called-out-in-hunts-point-acts-like-he-owns-hunts-point-not-much-of-a-neighbor-busy-with-national-stuff">Jeff Bezos Called Out in Hunts Point: &#8216;Acts Like He Owns Hunts Point,&#8217; &#8216;Not Much of a Neighbor,&#8217; &#8216;Busy With National Stuff&#8217;</a>
The final sales price of $105 million&nbsp;sets a new record for&nbsp;Indian Creek Island,&nbsp;just $15 million shy of&nbsp;Miami's most expensive home sale.
Why It Matters: Indian Creek Island is renowned for its exclusivity, with access heavily restricted. 
The island is home to high-profile residents such as Tom Brady, Carl Icahn, and Jared Kushner and Ivanka Trump.
The record-breaking sale price of this property underscores the high demand for real estate in this exclusive location, despite the high costs. 
The sale also highlights the potential for significant returns on investment in the luxury real estate market, as demonstrated by Peleg&#8217;s substantial profit from his 2018 purchase.
Read Next
<a href="https://www.benzinga.com/news/24/12/42715900/jeff-bezos-neighbor-lists-vacant-miami-lot-for-200-million-after-buying-it-for-just-27-5m">Jeff Bezos&#8217; Neighbor Lists Vacant Miami Lot For $200 Million After Buying It For Just $27.5M</a>
Image: Shutterstock/lev radin

Mystery Seller Behind $105 Million Plot Next to Jeff Bezos Estate Finally Revealed

After spending time in multiple career-related subreddits, one Reddit user had a realization that registered with people: Reddit sometimes makes the job market look worse than it really is.
<h2 class="wp-block-heading">Reddit Isn&#8217;t The Full Picture</h2>
&#8220;I've been <a href="https://www.benzinga.com/personal-finance/25/05/45184505/she-earns-130k-on-onlyfans-and-has-a-masters-degree-in-business-still-shes-looking-to-switch-careers-because-the-job-is-boring">trying to switch careers</a> recently and joined a bunch of subreddits — tech, healthcare, education, engineering, etc.,&#8221; the original poster <a href="https://www.reddit.com/r/jobs/comments/1levt2q/reddit_makes_it_seem_like_literally_every_job_is/">wrote</a>. &#8220;And in every single one, it's the same thing: &#8216;No jobs&#8217; &#8216;The market is dead&#8217; &#8216;Everything's saturated&#8217; &#8216;You should've started 10 years ago&#8217;.&#8221;
But they pushed back on the despair. &#8220;People get hired every single day. That's a fact,&#8221; they said. &#8220;The people who are getting jobs aren't posting here. The ones who are stuck are the ones who are venting.&#8221;
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Their perspective resonated, especially as others chimed in with their experiences. &#8220;I <a href="https://www.benzinga.com/news/25/03/44408726/got-laid-off-so-i-went-all-in-on-living-frugally-redditor-shares-how-they-saved-big-and-why-these-tips-may-be-more-important-than-ever">got laid off</a> at the beginning of the year and was terrified because I'm here lurking a lot,&#8221; one person commented. &#8220;Luckily, I'm pretty good at interviewing and landed a [work-from-home] job maybe two weeks after. I never posted about how fast I was able to find work, so what you say is true.&#8221;
Others said the negativity isn&#8217;t universal across fields. &#8220;Tech jobs in education, medical, and finance are <a href="https://www.benzinga.com/25/05/45671051/as-unemployment-trends-upwards-these-college-majors-offer-the-best-job-prospects">booming right now</a>. I moved companies earlier this year and did not have any trouble finding another fully remote position for a significant raise,&#8221; one person added.
Still, the thread also highlighted the brutal side of the market. Many shared long stretches of unemployment and feelings of defeat. One mid-level developer said they&#8217;d sent out over 100 applications in four weeks and heard back from only five. &#8220;I&#8217;m not the best interviewee and am a poster child for, &#8216;if it wasn&#8217;t for bad luck, I&#8217;d have no luck at all.'&#8221;
Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a>
New graduates, in particular, seemed to bear the brunt of the pain. &#8220;Some have literally been unemployed for 2-3 years now,&#8221; another person said of recent tech grads. &#8220;One of [my friends] is a camp counselor at a coding camp. The other, working IT at a warehousing startup.&#8221; He described them as &#8220;Smart kids, high 90's in HS and 3.8 and above GPA in university.&#8221;
The nursing and teaching sectors drew mixed responses. Many users acknowledged that these fields continue to experience high demand due to staffing shortages, burnout, and high turnover. However, some pointed out that employers often prefer experienced workers, leaving recent graduates <a href="https://www.benzinga.com/news/education/25/06/46007465/jamie-dimon-sounds-alarm-on-skills-gap-calls-for-overhaul-of-us-education-system">without opportunities</a> to gain that very experience.&nbsp;
Others emphasized how working conditions and pay in these sectors contribute to why positions remain unfilled, with some describing the workload and pressure as overwhelming despite the steady demand for workers.
Reddit&#8217;s tendency to skew toward doom and gloom was a recurring point. &#8220;Reddit as a collective has the mentality of a depressed 16-year-old. It definitely shouldn&#8217;t be used as a barometer for anything,&#8221; one person joked. Another added, &#8220;It's like reading reviews on Amazon. People only post something negative, while positive is rarely posted.&#8221;
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
In the end, the original poster urged job seekers to stay the course. &#8220;Don't let [Reddit] convince you that nothing is working anywhere for anyone. That's just not true. If you're feeling discouraged, I get it. But keep going. You're probably doing better than you think.&#8221;
<h2 class="wp-block-heading">May's Job Market Data</h2>
Recent <a href="https://www.bls.gov/news.release/empsit.nr0.htm">data</a> from the U.S. Bureau of Labor Statistics paints a mixed yet still functional employment picture. In May, <a href="https://www.benzinga.com/markets/economic-data/25/06/45812372/us-labor-markets-defies-tariff-concerns-as-nonfarm-payrolls-wages-top-expectations-in-may">employers added 139,000</a> nonfarm payroll jobs, keeping the unemployment rate steady at 4.2%. Job gains were led by health care, leisure and hospitality and social assistance.&nbsp;
While federal government payrolls declined, private-sector hiring continued. Though slower than prior months, growth continues, supporting the idea that &#8220;people get hired every single day.&#8221;
Read Next: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Image: Shutterstock

A Jobseeker Says Reddit Paints A Bleak Job Market. But Then Admits People Are Still Getting 'Hired Every Single Day. That's A Fact'

The tech leaderboard of 2030 could look radically different, not just because of who rises <a href="https://www.benzinga.com/tech" target="_blank" rel="noreferrer noopener">but also because of who fades</a>.
A <a href="https://x.com/KoyfinCharts/status/1936092201920217573" target="_blank" rel="noreferrer noopener">post</a> on X by Koyfin reveals that Coatue&#8217;s recent projections for the next wave of trillion-dollar companies suggest a shift in how value is being created across industries.
Notably absent from the top 40 are Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
The exclusion isn&#8217;t arbitrary.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46041525/google-offers-to-boost-rivals-in-search-results-to-avoid-eu-antitrust-fine-under-digital-markets-act-report" rel="noreferrer noopener">Google Offers To Boost Rivals In Search Results To Avoid EU Antitrust Fine Under Digital Markets Act: Report</a>
Both companies face structural challenges that could curb future growth. Alphabet, for instance, is increasingly under pressure as generative AI threatens its core search and ad businesses — the very engines that built its empire.
CNBC <a href="https://www.cnbc.com/2025/04/24/alphabet-expects-slight-headwind-to-ads-business-in-2025-execs-say.html#:~:text=Alphabet%20will%20likely%20be%20impacted,advertising%20pullback%20from%20budget%20constraints." target="_blank" rel="noreferrer noopener">reports</a> that Alphabet may face headwinds due to the rising costs of materials essential for building and maintaining the technical infrastructure—like data centers—needed to support its AI ambitions. Additionally, it could feel indirect pressure from a slowdown in advertising spend, as companies tighten budgets, the report adds.
Competitors like OpenAI are already redefining how users interact with information.
Apple, while still wildly profitable, hasn&#8217;t demonstrated category-defining innovation post-iPhone.
Hardware saturation and China-related supply chain risks continue to weigh on investor confidence.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45489614/as-apple-faces-pressure-after-trump-told-tim-cook-to-avoid-manufacturing-in-india-expert-warns-iphone-makers-value-added-growth-is-in-danger" rel="noreferrer noopener">As Apple Faces Pressure After Trump Told Tim Cook To Avoid Manufacturing In India, Expert Warns iPhone Maker&#8217;s &#8216;Value-Added Growth Is In Danger&#8217;</a>
Meanwhile, rising stars like NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), OpenAI, and SpaceX are being valued not just for current profits but for owning the infrastructure of the future — AI, energy, automation, and space.
Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) placement among the top three underscores another trend: institutional acceptance of crypto as a legitimate store of value.
The market isn&#8217;t just rewarding performance anymore — it&#8217;s betting on disruption, scalability, and vision.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46037332/bitcoin-ethereum-xrp-dogecoin-pull-back-after-technical-rejection-no-one-wants-to-be-long-into-the-weekend" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Pull Back After Technical Rejection — &#8216;No One Wants To Be Long Into The Weekend&#8217;</a></li>
</ul>
Image: Shutterstock/NRSPro

Equities

$BTC

AAPL

GOOG

GOOGL

NVDA

TSLA

Tech Hedge Fund: One of the 'Magnificent 7' May Not Make 2030 Top 40

With a <a href="https://www.benzinga.com/markets/tech/25/06/45966691/elon-musks-net-worth-soars-nearly-3-billion-jeff-bezos-mark-zuckerberg-and-other-top-10-billionaires-add-over-16-billion-as-sp-500-nasdaq-jump-erasing-fridays-losses">net worth of $344 billion</a> as of this month, Elon Musk could buy just about anything. But instead of throwing his money at mansions, Michelin stars, or Maybachs, he's opted to live like someone trying to stretch a student loan refund.
In his own words, <a href="https://x.com/elonmusk/status/1256239554148724737">Musk tweeted on May 1, 2020</a>:
"I am selling almost all physical possessions. Will own no house."
And during a May 8, 2020 <a href="https://www.rev.com/transcripts/joe-rogan-elon-musk-podcast-transcript-may-7-2020">interview on "The Joe Rogan Experience",</a> he added:
"I think possessions kind of weigh you down. They're kind of an attack vector."
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<li>Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can <a href="https://www.benzinga.com/money/how-peter-thiel-turned-his-roth-ira-into-5-billion-and-why-accredited-investors-are-now-eyeing-this-smartphone-disruptor">invest with $1,000 at just $0.30/share.</a></li>
</ul>
Here are five major things Musk refuses to waste money on—even though he easily could.
<h2 class="wp-block-heading">Multi-Million Dollar Homes</h2>
Between 2020 and early 2021, Musk sold seven homes in California, including multiple Bel-Air properties. The total price tag? Over $100 million.
Rather than upgrade, he reportedly moved into a <a href="https://x.com/elonmusk/status/1402718368633745410">$50,000 Boxabl prefab home</a> near SpaceX headquarters in Boca Chica, Texas. It's a 375-square-foot cube—modest even by non-billionaire standards.
<h2 class="wp-block-heading">Furniture —&nbsp; Even a Decent Mattress</h2>
In a March 2022 <a href="https://www.vanityfair.com/style/2022/03/grimes-cover-story-on-music-and-mars">interview with Vanity Fair</a>, Canadian musician Grimes—Musk's former partner and the mother of three of his children—described his lifestyle as anything but billionaire-like.
"Bro does not live like a billionaire," she said. "Bro lives at times below the poverty line."
She recalled their time living in a "$40,000 house" with no security and neighbors who could easily film them. At one point, she said she was eating peanut butter for eight days straight. But the most telling example? Their mattress had a hole in it—and Musk still refused to replace it. Instead, he suggested they just switch sides.
Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a>
<h2 class="wp-block-heading">Hotels and Fancy Lodging</h2>
Musk doesn't even technically have a primary residence. In a 2022 TED interview, <a href="https://youtu.be/YRvf00NooN8?si=eHOFbWh1eqbxKj4q">he told host Chris Anderson</a>:
"I don't even own a place right now, I'm literally staying at friends' places."
In a 2015, Google co-founder Larry Page shared a story with Ashlee Vance, the author of Elon Musk's first biography, "Elon Musk: Tesla, SpaceX and the Quest for a Fantastic Future."
Page recalled Musk occasionally reaching out for a place to crash, saying:
"He'll email and say, ‘I don't know where to stay tonight. Can I come over?'"
Page added with a laugh that Musk was "kind of homeless, which I think is sort of funny," offering a glimpse into the billionaire's unusually casual and nomadic lifestyle.
And way back in <a href="https://www.cnn.com/videos/business/2021/01/07/elon-musk-gets-his-mclaren-supercar-1999-vault-orig.cnn">1999, Musk told CNN</a>:
"Three years ago, I was showering at the YMCA and sleeping on the office floor. Now I have a million-dollar car."
<h2 class="wp-block-heading">Gourmet Food or Dining Out</h2>
At 17, Musk decided to test whether he could survive as an entrepreneur by living on just $1 a day for food. It wasn't a stunt—it was a personal challenge to see if he could handle the financial uncertainty that came with starting a business.
He described the experiment during an interview on Neil deGrasse Tyson's "<a href="http://startalkmedia.com/">StarTalk</a>":
"In America it&#8217;s <a href="https://www.benzinga.com/startups/24/08/40612658/elon-musk-says-he-survived-on-1-per-day-before-becoming-the-richest-man-in-the-world-in-america-its">pretty easy to keep yourself alive</a>. So my threshold for existing was pretty low. I figured I could be in some dingy apartment with my computer and be okay, and not starve."
During the Zip2 startup years, <a href="https://x.com/teslaownersSV/status/1532784330103107584">he ate Jack in the Box and White Castle burritos</a>, showered at the YMCA, and funneled every spare dollar into the company.
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
<h2 class="wp-block-heading">Luxury Cars…Though He Did Once Crash a $1 Million McLaren</h2>
Musk recalled the infamous crash himself during an interview with Sarah Lacy for PandoDaily. After selling Zip2, he had purchased a <a href="https://www.benzinga.com/general/24/02/37016578/elon-musk-spent-1-million-on-a-super-rare-mclaren-f1-but-then-crashed-it-trying-to-impress-peter-thi">McLaren F1 and decided to show it off</a> to PayPal co-founder Peter Thiel.
"Watch this," Musk said—then floored it, spun out, and launched the car into the air before crashing.
His reaction afterward? "It wasn't insured."
Since then, Musk has stuck with practical models. He <a href="https://supercarblondie.com/elon-musk-drives-specific-tesla-model-everyday/">mostly drives a Tesla Model S</a> or Cybertruck. He's also dismissed the idea of building a budget Tesla under $25,000, calling it "silly" during a 2024 Tesla third quarter earnings calls.&nbsp;
<h2 class="wp-block-heading">Sometimes Less Really Is More</h2>
Musk could afford anything. But time and again, he chooses not to. Whether it's sleeping on friends' couches, keeping a broken mattress, or skipping dinner reservations for dollar menus, Musk lives like a man focused on Mars—not material things.
And as far as he's concerned, that's the point.
Read Next: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Image: Shutterstock

'Possessions Kind of Weigh You Down'— Elon Musk Is the Richest Man In The World But Avoids These 5 Pricey Purchases Most People Can't Resist

Pavel Durov, the CEO and co-founder of messaging platform&nbsp;Telegram, has announced that his vast fortune will be inherited by his numerous offspring.
What Happened: In an interview with the French outlet Le Point, Durov said that his 100-plus children will be the beneficiaries of his multi-billion dollar estate.
Durov, who is officially recognized as the father&nbsp;of six children from three&nbsp;different partners, has also fathered over 100 children across 12 countries via sperm donation. During the interview he <a href="https://www.lepoint.fr/high-tech-internet/exclusive-pavel-durov-on-his-arrest-in-france-macron-russia-the-fbi-and-the-fight-for-telegram-19-06-2025-2592412_47.php#11">said</a>,&nbsp;&#8220;They are all my children&nbsp;and will all have the&nbsp;same rights. I don&#8217;t want&nbsp;them to tear each other&nbsp;apart after my death.&#8221;
The Russian entrepreneur, whose net worth is estimated at nearly $14 billion, recently drafted his will, stipulating that his children would not gain access to his wealth until three decades from now.&nbsp;
&#8220;I want them to live&nbsp;like normal people, to build&nbsp;themselves up alone, to learn&nbsp;to trust themselves, to be&nbsp;able to create, not to&nbsp;be dependent on a bank&nbsp;account,&#8221; Durov added.
Also Read: <a href="https://www.benzinga.com/news/social-media/25/05/45710748/ex-says-musk-told-her-he-fathered-child-with-japanese-pop-star-said-he-would-give-sperm-to-anyone-who-wanted-it">Ex Says Musk Told Her He Fathered Child With Japanese Pop Star, Said He Would Give Sperm To Anyone Who Wanted It</a>
&#8220;I wrote my will very recently. I have decided that my children would not have access to my fortune until a period of 30 years has elapsed, starting from today,&#8221; he said. 
Durov, who founded Telegram in 2013, was apprehended by French authorities last year on allegations of aiding in criminal activity via Telegram, charges he has persistently refuted. Despite these accusations, he continues to helm the messaging platform, which claims around&nbsp;1 billion active users globally.
Why It Matters: Durov&#8217;s decision to distribute his wealth among his numerous offspring is a unique approach to inheritance, particularly given the vast number of children involved. 
His desire for his children to live &#8220;normal&#8221; lives and not be dependent on his fortune reflects his belief in self-reliance and personal development. This move also ensures that his wealth will be distributed evenly, potentially avoiding future family disputes over inheritance.
Despite the controversy surrounding his arrest, Durov remains a significant figure in the tech industry, with Telegram continuing to be a major player in the messaging platform market. 
His decision regarding his fortune may have implications for his children&#8217;s future involvement in the company and the tech industry at large.
Read Next
<a href="https://www.benzinga.com/news/24/09/40669018/telegrams-financial-health-in-question-a-roadblock-to-30b-ipo">Telegram&#8217;s Financial Health In Question: A Roadblock To $30B IPO?</a>
Image: Shutterstock/Muhammad Raid Ahyan 2105

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Telegram CEO Pavel Durov To Leave His $13.9 Billion Fortune to His 100+ Children

Billionaire Elon Musk is worth <a href="https://www.benzinga.com/news/25/06/45932793/elon-musk-net-worth-down-64-billion-in-2025-but-tesla-ceo-still-richer-than-value-of-ford-general-mo">more than $350 billion</a>, giving the Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO the opportunity to buy nearly anything he wants.
While Musk doesn't own any yachts or multiple houses anymore, the billionaire had no problem spending $1 million to buy a famous movie car back in 2013.
What Happened:&nbsp;One of the most expensive personal items ever purchased is the car from the James Bond movie "The Spy Who Loved Me," which he bought in 2013 for&nbsp;<a href="https://www.benzinga.com/news/23/04/31727712/5-of-the-craziest-things-elon-musk-has-spent-his-money-on" target="_blank" rel="noreferrer noopener">nearly one million dollars</a>.
In the 1977 movie, which stars&nbsp;Roger Moore&nbsp;as Bond, a sports car that can transform into a submarine and fire missiles underwater is featured. The vehicle was nicknamed "Wet Nellie" and saw a marine engineering firm convert it into a functional submarine. A retired U.S. Navy SEAL in full scuba gear helped perform the underwater scenes in the movie.
While buying the famous vehicle might be a crazy story for Musk, it's an even crazier story for the couple that once owned it.
A couple from New York purchased an unclaimed storage unit for $100 in 1989 via a blind auction, which means unlike the storage unit auctions you may have seen on TV, the bidders couldn't see what was inside or even open the door.
As reported by&nbsp;<a href="https://www.cnbc.com/2019/12/01/couple-paid-100-for-car-elon-musk-bought-it-from-them-for-6-figures.html" target="_blank" rel="noreferrer noopener">CNBC</a>, the couple found the 1976 Lotus Espirit sports car when they opened the unit after winning. Surprisingly enough, the couple had never watched a James Bond movie.
"They really didn't know what it was," Ian Fleming Foundation Co-Founder&nbsp;Doug Redenius&nbsp;told NBC in 2013. Redenius helped authenticate the car for the couple, who ran a construction tool renting business at the time.
"They had no idea how valuable their discovery was."
According to the story, the couple loaded the car onto a truck and while driving it home were told several times by truckers via CB radio that it was a James Bond car that they were hauling. The discovery led to the husband going out and renting the Bond film on VHS to see the car in the movie.
The couple "cosmetically restored" the vehicle and featured it in exhibits before deciding to part ways and put it up for auction in 2013.
The car purchased by Musk is one of eight that was used during the filming of the 1977 film, but is the only one that was used in the underwater scenes. After filming, the car went into a storage unit.
Musk bought the vehicle anonymously in a 2013 auction with RM Sotheby's. The purchase price was $997,000 for the James Bond car.
It was later revealed that Musk was the buyer of the vehicle.
Are you buying when the CEOs of the Magnificent 7 are selling?
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<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
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Musk a Fan Of James Bond:&nbsp;Musk has said in interviews that he was a fan of James Bond movies, particularly "The Spy Who Loved Me."
"It was amazing as a little kid in South Africa to watch James Bond in ‘The Spy Who Loved Me' drive his Lotus Espirit off a pier, press a button and have it transform into a submarine understeer," Musk said previously.
In a 2013 interview, Musk said that he was disappointed the James Bond car he bought didn't actually transform.
"What I'm going to do is upgrade it with a Tesla electric powertrain and try to make it transform for real."
Tesla&nbsp;investors and customers may be familiar with the design of the vehicle featured in the James Bond movie. Musk has called the vehicle a major inspiration for the highly anticipated Tesla Cybertruck electric pickup truck.
"Cybertruck design influenced partly by The Spy Who Loved Me," Musk&nbsp;<a href="https://twitter.com/elonmusk/status/1197638937109336066" target="_blank" rel="noreferrer noopener">tweeted&nbsp;</a>in 2019.
Along with being influenced by The Spy Who Loved Me, the Cybertruck design was also inspired by the "Blade Runner" film.
&#8220;I specifically wanted to make something that looks like the future,&#8221; Musk <a href="https://www.benzinga.com/news/23/12/36104426/elon-musk-wanted-to-make-a-vehicle-for-the-future-one-that-blade-runner-would-drive">said in an interview</a>. &#8220;What car would Blade Runner drive?&#8221;
Musk has&nbsp;<a href="https://twitter.com/elonmusk/status/1252098355062173696" target="_blank" rel="noreferrer noopener">teased&nbsp;</a>for years that the Cybertruck would be able to drive through water, a reference to the underwater capabilities of "Wet Nellie."
It&#8217;s hard to believe that a $100 storage unit purchase by a couple in 1989 led to a one million dollar payday, and also may have played a hand in the design of the Cybertruck.&nbsp;
While the Cybertruck may not live up to Musk's once lofty expectations based on current demand trends, the unique vehicle design will likely be talked about for decades.
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&nbsp;This article was previously published by Benzinga and has been updated.
Photo: Shutterstock

Entertainment

Education

Elon Musk Paid $1M For A James Bond Car — It Was Found In A $100 Storage Unit

Mark Cuban didn't always own NBA teams and billion-dollar businesses. Long before the Dallas Mavericks, long before &#8220;Shark Tank,&#8221; he was just a kid growing up in Pittsburgh, watching his dad grind out 60-hour weeks <a href="https://www.benzinga.com/news/24/02/37384456/mark-cuban-credits-fathers-wisdom-for-billion-dollar-success-story-his-job-didnt-have-a-future">upholstering car seats</a>.
<h2 class="wp-block-heading">A Life-Changing Milestone</h2>
Cuban still remembers the moment he told his dad Norton that he had made $100,000 in a single year. &#8220;He cried,&#8221; Cuban said in a 2019 <a href="https://www.youtube.com/watch?v=JMnrZWXID_s">interview</a> on &#8220;The Dan Patrick Show.&#8221; &#8220;He did upholstery on cars and I don&#8217;t think he ever made more than $40,000 in a year.&#8221;
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The money wasn't just a number. For Cuban, it meant freedom. For his father, it was pride. "It wasn't so much that it was hard for him," Cuban added. "But we would go out to dinner and he would still pull out the credit card. Even when it was my credit card, he gave me a death stare, like, &#8216;Don&#8217;t even think about paying.'&#8221;
<h2 class="wp-block-heading">The Lesson That Shaped His Life</h2>
Cuban also credits his work ethic and values to his dad, who gave him a key piece of advice when he was 14: &#8220;Time is your most valuable asset.&#8221;
&#8220;His time was never his own,&#8221; Cuban told <a href="https://www.cnbc.com/2024/02/28/mark-cuban-built-his-career-using-advice-his-dad-gave-him-at-age-14.html">CNBC</a> last year. &#8220;He wanted me to create my own path.&#8221;
That mindset pushed Cuban to chase independence over a high-paying job. He wanted to control his schedule and never answer to anyone else.&nbsp;
Cuban started <a href="https://www.benzinga.com/personal-finance/24/06/39440861/mark-cuban-began-his-millions-selling-garbage-bags-for-6-the-worlds-first-garbage-bag-door-to-do">selling trash bags</a> door to door at age 12, then stamps and coins. In college, he taught disco lessons for $25 an hour and opened a bar using the money from side hustles. His first big win came when he <a href="https://www.benzinga.com/news/24/12/42638290/mark-cubans-wealth-journey-i-want-to-live-off-this-for-a-long-time">sold MicroSolutions for $6 million</a> in 1990. Less than a decade later, Yahoo acquired his next company, <a href="https://www.benzinga.com/general/education/24/10/41234173/how-mark-cuban-turned-broadcast-com-into-5-7b-sale-we-were-the-youtube-of-our-day">Broadcast.com, for $5.7 billion</a>.
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
<h2 class="wp-block-heading">Still Just Dad</h2>
Despite the success, Cuban says some things never changed. His dad moved to Dallas after Mark <a href="https://www.benzinga.com/news/25/03/44571779/mark-cubans-big-revelation-says-he-lost-hundreds-of-millions-owning-the-dallas-mavericks">bought the Mavericks</a>, but kept his same humble approach. &#8220;I couldn&#8217;t get him to retire, and finally that was kind of the impetus for him to retire and come down to Dallas and live and just hang out and go to Mavs games,&#8221; Cuban said.&nbsp;
He never gave his dad one big gift. Instead, he gave him the option to go anywhere in the world. His dad took full advantage, cruising across the globe and collecting friends along the way. &#8220;I&#8217;d get emails from random people who met my dad on cruises,&#8221; Cuban told Patrick.
And at home? Cuban might be a billionaire, but to his kids, he&#8217;s still just Dad. &#8220;One of my daughters says, &#8216;You don't know anything about business, Dad,'&#8221; Cuban joked on Theo Von&#8216;s <a href="https://www.youtube.com/watch?v=fiK6IWhDbWU">podcast</a> last year.&nbsp;
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Image: Shutterstock

When Mark Cuban Hit $100,000, He Told His Dad, Who'd Never Earned Even Half That. 'He Just Started Crying'

President Donald Trump has publicly contradicted Director of National Intelligence, Tulsi Gabbard amid reports suggesting Gabbard&#8217;s influence within Trump&#8217;s administration is declining.
What Happened: Trump dismissed Gabbard during a press briefing on Friday. When asked about intelligence supporting a potential strike on Iran, to which Trump replied that Iran had accumulated &#8220;a tremendous amount of nuclear material.&#8221;
As reported <a href="https://www.foxnews.com/politics/shes-wrong-trump-says-tulsi-gabbard-incorrect-about-iran-not-having-nuclear-weapon-capabilities">by</a> Fox News, when told that his intelligence team had said that Iran is not close to achieving a nuclear weapon, Trump retorted, &#8220;Well, then my intelligence community is wrong. Who in the intelligence community said that?&#8221; Upon reporter&#8217;s mention of Gabbard, Trump&#8217;s response was a curt, &#8220;She&#8217;s wrong.&#8221;
Also Read: <a href="https://www.benzinga.com/news/25/02/43758634/mary-trump-warns-dni-gabbard-could-lead-to-catastrophic-outcome-a-known-russian-asset-defender-of-murderous-dictator-assad">Mary Trump Warns DNI Gabbard Could Lead To &#8216;Catastrophic Outcome&#8217;: &#8216;A Known Russian Asset,&#8217; Defender of &#8216;Murderous Dictator&#8217; Assad</a>
This public disagreement follows a recent media report that Gabbard&#8217;s influence within the administration was on the decline. This was after Gabbard released a video warning about the potential for nuclear annihilation, which reportedly upset Trump.
Despite the public disagreement, Vice President&nbsp;JD Vance&nbsp;voiced his support for Gabbard, characterizing her as a &#8220;veteran, a patriot, a loyal&nbsp;supporter of President Trump, and&nbsp;a critical part of the&nbsp;coalition he built in 2024.&#8221;
Why It Matters: The public contradiction of Gabbard by President Trump raises questions about the stability within the administration and the potential impact on national security. 
Gabbard&#8217;s diminishing influence could lead to a shift in the administration&#8217;s approach to intelligence and foreign policy. As a key figure in Trump&#8217;s 2024 coalition, Gabbard&#8217;s potential sidelining could also have political implications.
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Image: Shutterstock/Maxim Elramsisy

Trump Publicly Contradicts DNI Gabbard's Claim That Iran Lacks Nuclear Capabilities: 'She's Wrong'

When a small business owner called into Dave Ramsey&#8216;s &#8220;<a href="https://www.youtube.com/watch?v=BBqXJvG4QEM">EntreLeadership</a>&#8221; podcast recently, she didn't talk about marketing, sales, or profits—she asked for help dealing with something more personal: what to do when too many employees are out for weeks at a time due to illness or family emergencies.&nbsp;
<h2 class="wp-block-heading">Ramsey: &#8216;Grace Can Only Go As Far As the Math Allows&#8217;</h2>
With nine employees and around $700,000 in annual revenue, the specialty retail and race timing business owner told Ramsey she&#8217;s struggling with multiple extended employee absences.
&#8220;It&#8217;d be one thing if it were one person, but it&#8217;s multiple,&#8221; the owner said. &#8220;And I&#8217;m just a small retail store.&#8221;
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Ramsey, who has run businesses of all sizes, told her, &#8220;At your size, you can only absorb so much of it in the name of grace. And then you can&#8217;t continue to absorb it all because you won&#8217;t have the money to pay the people that are there because the work&#8217;s not getting done.&#8221;
He sympathized with her desire to be kind and flexible, but said <a href="https://www.benzinga.com/news/topics/25/06/45829838/a-22-year-old-ceo-asks-dave-ramsey-what-to-do-about-an-employee-asking-for-ownership-his-advice-after-a-sincere-laugh-hit-the-road-jack">the numbers don't lie</a>. &#8220;My grace can only go as far as the math allows it.&#8221;
Ramsey explained that in his own company, they sometimes pay employees out on <a href="https://www.benzinga.com/personal-finance/24/12/42728529/suze-orman-warns-medicare-doesnt-cover-everything-why-you-need-2000-for-drugs-and-1676-for-hospital-costs-in-2025">extended medical leave</a>, but that luxury comes with scale. &#8220;When I was your size, I couldn&#8217;t do that. I didn&#8217;t have the money to do that.&#8221;
The small business owner clarified that her team members aren't lazy. &#8220;None of them I would look at and go, &#8216;Oh, you&#8217;re slacking.'&#8221;
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Still, Ramsey didn't pull punches. &#8220;Corporate America will <a href="https://www.benzinga.com/markets/tech/25/06/45810135/walmart-microsoft-disney-slash-jobs-as-trump-tariffs-ai-push-corporate-america-into-layoff-mode">fire their butt</a> with no feelings,&#8221; he said. &#8220;At least you got feelings.&#8221;
&#8220;Welcome to leadership. Sometimes it&#8217;s hard&#8230; because small business people like you and me, we care about folks, we don&#8217;t just cut their throat,&#8221; Ramsey noted.
He recommended setting a clear policy: allow three weeks of PTO, and then no more than one month unpaid. Beyond that, the position likely needs to be filled.
&#8220;You&#8217;re just never here, so we probably ought to call it out loud and say that,&#8221; he said. &#8220;I feel bad for you, but I also can&#8217;t go on not getting this work done.&#8221;
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Ramsey said leaders can make exceptions when they feel truly called to support someone long-term, but added, &#8220;That&#8217;s a rare exception.&#8221;
His closing reminder: &#8220;The good of the whole outweighs the good of the one. When you can&#8217;t afford to do it, you can&#8217;t afford to do it. That's not evil, it&#8217;s just the stage of business you&#8217;re at. I&#8217;d like to tell you it gets easier. It gets more complicated, is all it gets from here.&#8221;
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Image: Shutterstock

A Small Store Owner Struggles As Staff Constantly Call Out Sick Or Care For Family. Dave Ramsey Says Corporate America Would Just Fire Them

Donald Trump Jr. has joined billionaire entrepreneur Mark Cuban in publicly voicing disapproval of Sen. Elizabeth Warren (D-Mass.)&#8217;s approach to healthcare pricing.
Despite their political differences, Trump Jr. and Cuban found a common point of contention in Warren&#8217;s healthcare pricing strategy. They criticized the senator for not addressing&nbsp;the role of pharmacy benefit&nbsp;managers (PBMs) in escalating drug costs.
Warren had previously argued&nbsp;that the tax system was&nbsp;&#8220;rigged&#8221;&nbsp;because large pharmaceutical companies like&nbsp;Johnson &amp; Johnson&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) often escape federal taxes while charging exorbitant prices for their drugs. 
She wrote on X saying that the "highest drug prices in the WORLD while often paying ZERO dollars in federal taxes themselves."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Big Pharma companies like Johnson &amp; Johnson and Pfizer charge Americans the highest drug prices in the WORLD while often paying ZERO dollars in federal taxes themselves. Why? Because our tax system is rigged. Now, Republicans want to make it worse. I&#39;m fighting back. <a href="https://t.co/k7dFrXBneX">pic.twitter.com/k7dFrXBneX</a>
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1935443373487440373?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cuban countered this by stating that PBMs, not pharmaceutical companies, are the ones controlling and manipulating drug pricing.
Also Read: <a href="https://www.benzinga.com/news/25/01/43245984/cuban-on-musk-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-for-when-its-truly-deser">Cuban on Musk: &#8216;I Have No Problem Throwing Elon Under the Bus, but I&#8217;ll Save It for When It&#8217;s Truly Deserved&#8217;</a>
Trump Jr. publicly supported Cuban&#8217;s viewpoint on X, despite Cuban&#8217;s well-known opposition to President Trump. This unexpected agreement highlights the growing concern over the role of PBMs in healthcare pricing.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Didn't think I'd be RTing Mark for a while, but he's 100% right on this issue. <a href="https://t.co/ofraK5IFQk">https://t.co/ofraK5IFQk</a>
&mdash; Donald Trump Jr. (@DonaldJTrumpJr) <a href="https://twitter.com/DonaldJTrumpJr/status/1935817600891601345?ref_src=twsrc%5Etfw">June 19, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
PBMs have been facing increasing scrutiny from federal regulators and lawmakers due to their influence on healthcare pricing. 
In 2020, the Federal Trade Commission released a report criticizing PBMs for imposing unfair terms on independent pharmacies, thereby favoring large corporate pharmacies like&nbsp;CVS&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>).
The public criticism from Trump Jr. and Cuban underscores the growing debate over the role of PBMs in healthcare pricing. 
Warren&#8217;s focus on pharmaceutical companies, while not entirely misplaced, overlooks the significant influence of PBMs in determining drug prices.
The Federal Trade Commission&#8217;s report from last year further highlights the need for regulatory scrutiny of PBMs. As the debate continues, it remains to be seen how lawmakers will address the issue of healthcare pricing and the role of PBMs in the future.
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Image: Shutterstock/lev radin

Donald Trump Jr. Joins Mark Cuban In Slamming Elizabeth Warren on Healthcare Pricing

If you're working hard just to scrape by, Sen. Bernie Sanders (I-VT) says it's not just draining — it could be deadly.
According to a <a href="https://www.sanders.senate.gov/press-releases/new-report-working-class-americans-can-expect-to-die-at-least-7-years-earlier-than-the-wealthy/">Senate report released by Sanders</a> in March, the wealth gap in America isn't just about who can afford nicer things. It's about who lives longer. And the answer, Sanders says, is simple: "In America today, the bottom 50% of our population can expect to live seven years shorter lives than the top 1%."
It gets worse for rural, working-class Americans. In some parts of the country, the difference in life expectancy stretches to a full 10 years — with some counties facing a 15-year gap between the rich and poor. "Even worse," Sanders said, "Americans who live in working-class, rural counties can expect to die 10 years younger than people who live in wealthier neighborhoods across the country."
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The reason? "The <a href="https://www.benzinga.com/personal-finance/25/01/42914736/bernie-sanders-pushes-for-32-hour-work-weeks-with-no-pay-loss-it-is-time-to-reduce-the-stress-level-in-our-country">enormous stress</a> of living paycheck to paycheck," Sanders said, "not only causes far too many Americans to die much quicker than they should, but also leads to higher levels of anxiety, depression, cardiovascular disease and poor health."
The report shows that people living in the highest-income counties live over 84 years on average. In the poorest half of counties, life expectancy drops to 77.4. In rural areas where the median income is around $30,000, people are expected to live to just 71.7. Meanwhile, <a href="https://www.benzinga.com/personal-finance/24/11/41703390/are-you-richer-or-poorer-than-your-peers-heres-a-look-at-the-average-net-worth-for-your-income">people in suburban counties making over $100,000</a> often reach 81.6.
To put that in perspective: In Loudoun County, Virginia, life expectancy is 84. Just a few hours away in McDowell County, West Virginia, it's 69.
Sanders said he asked Americans on social media how <a href="https://www.benzinga.com/markets/tech/25/06/45968055/bernie-sanders-says-ai-boom-must-serve-working-families-not-billionaires-calls-for-shorter-work-week-higher-quality-of-life">stress from low wages and high costs</a> was impacting their lives. The responses poured in — and some were devastating.
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Edwardo from Texas wrote, "We struggle to get sleep. Our diets fluctuate, and we get sick from spoiled food from the donation pantry. Working long hours, I was recently injured and am struggling, unable to pay for care to help heal."
Caitlan from Colorado shared, "Stress isn't just an inconvenience for me — it's a direct threat to my heart. Living with a congenital heart defect and multiple mechanical valves means that every surge of anxiety, every sleepless night worrying about bills, isn't just mentally exhausting — it physically wears on my heart."
Sanders says these aren't outliers — they reflect a system that punishes people for being poor. His recommendations include:
<ul class="wp-block-list">
<li>Raising the minimum wage to at least $17 per hour </li>
<li>Enacting Medicare for All to guarantee health care</li>
<li>Providing paid family and medical leave</li>
<li>Expanding Social Security and restoring pensions</li>
<li>Making education accessible regardless of income or ZIP code</li>
</ul>
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
"In the richest country in the history of the world, it is absolutely unacceptable that so many Americans are seeing their lives cut short because they don't have enough money," Sanders said. "This is an issue that Congress must address."
A 2022 systematic review published in the <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC8863240/">National Library of Medicine</a> analyzed 40 studies, including many from the U.S., and found a consistent link between financial stress and depression. Americans facing debt, low income, or trouble affording basic needs were significantly more likely to experience depressive symptoms — especially those in lower-income households.&nbsp;
The message is clear: If you're middle class and barely hanging on, you're not just working your life away — you might be working it shorter, too.
Read Next: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Image: Shutterstock

Bernie Sanders Says Working-Class Americans Die 10 Years Earlier Than the Rich — Blames 'Enormous Stress of Living Paycheck to Paycheck'

Elon Musk has leveled a public accusation against Sergio Gor, a senior aide to President Donald Trump, <a href="https://www.benzinga.com/news/politics/25/06/45827968/trump-vs-musk-betting-markets-anticipate-next-move-in-musk-trump-feud-predict-low-chances-of-musk-forming-political-party">alleging a federal crime</a>.
What Happened: Musk asserts that Gor, currently serving as the director of the presidential personnel office, falsified his birthplace on federal forms, a misstep Musk labels as a &#8220;serious crime.&#8221;
This accusation surfaces amidst a growing dispute between Musk and Gor, which Musk suggests has strained his relationship with President Trump.
The allegations from Musk were triggered by a series of social media posts by race car driver Igor Sushko, who labeled Gor as a &#8220;Russian spy.&#8221; Sushko had disseminated a New York Post story that cast doubt on Gor&#8217;s birthplace, among other articles.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">He deliberately lied about where he was born on Federal forms. That's a serious crime.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1936106956634439911?ref_src=twsrc%5Etfw">June 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
At the heart of Musk&#8217;s allegation is his claim that Gor neglected to fill out his own SF-86, a vital vetting form needed for U.S security clearance. 
Also Read: <a href="https://www.benzinga.com/news/politics/25/06/45829416/trump-allegedly-calling-people-to-claim-elon-musk-has-serious-drug-problem-big-time-drug-addict">Trump Allegedly Calling People To Claim Elon Musk Has Serious Drug Problem: &#8216;Big-Time Drug Addict&#8217;</a>
This is despite Gor&#8217;s responsibility in&nbsp;vetting thousands of executive branch&nbsp;employees. The White House, however, maintains that Gor has completed the form and possesses the necessary clearance.
The conflict between Musk and Gor has been intensifying since Gor allegedly swayed Trump to retract the nomination of Musk&#8217;s friend, Jared Isaacman, for a leadership position at NASA. This event reportedly led to a rift between Musk and Trump, which has been under the public eye.
Why It Matters: The ongoing feud between Musk and Gor has significant implications, particularly considering Musk&#8217;s influential role in the tech industry and Gor&#8217;s position within the Trump administration. 
The fallout between Musk and Trump could potentially impact future collaborations between Musk&#8217;s companies and the federal government. 
Furthermore, the allegations against Gor, if proven true, could lead to serious legal consequences and shake up the current administration.
Read Next
<a href="https://www.benzinga.com/news/politics/25/06/45828246/trump-warns-musk-against-aiding-democrats-hell-have-to-pay-serious-consequences-if-he-does-that" target="_blank" rel="noreferrer noopener">Trump Warns Musk Against Aiding Democrats: ‘He'll Have To Pay Serious Consequences If He Does That'</a>
Image: Shutterstock

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