Crinetics Pharmaceuticals Azioni (NASDAQ: CRNX)

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Crinetics Pharmaceuticals

Crinetics Pharmaceuticals Inc is a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its products include Paltusotine and Atumelnant.

Crinetics Pharmaceuticals, Inc. - Common Stock

Crinetics Pharmaceuticals Inc

President&nbsp;Donald Trump&nbsp;said he would consider pushing back the June 19 deadline for ByteDance to sell TikTok&#8216;s U.S. operations&nbsp;if&nbsp;a deal is not finalized&nbsp;in time. This marks the third time he&#8217;s granted a reprieve to the short video app <a target="_blank" href="https://www.benzinga.com/markets/25/05/45187434/trump-open-to-extending-tiktok-deadline-says-he-has-warm-spot-for-the-app" rel="noreferrer noopener">used by over 170 million Americans</a>.
The&nbsp;Donald Trump&nbsp;administration is planning to terminate the Energy Star program, which certifies <a target="_blank" href="https://www.benzinga.com/general/25/05/45245867/trump-administration-plans-to-end-energy-star-program-that-helped-americans-save-500-billion-in-energy-costs-report" rel="noreferrer noopener">energy-efficient home appliances</a>.
Earnings Release
Electronic Arts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) reported fourth-quarter&nbsp;earnings of&nbsp;$1.58&nbsp;per share, which beat the analyst consensus estimate of&nbsp;$1.09. Quarterly revenue clocked in at $1.8 billion, beating the <a target="_blank" href="https://www.benzinga.com/general/gaming/25/05/45238060/electronic-arts-stock-climbs-after-better-than-expected-q4-report" rel="noreferrer noopener">consensus estimate of&nbsp;$1.56 billion</a>.
Technology
The U.S. Department of Justice proposed that&nbsp;Google, owned by&nbsp;Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), be&nbsp;required to divest two major&nbsp;components of its advertising empire: the&nbsp;AdX&nbsp;advertising exchange and the&nbsp;DoubleClick <a target="_blank" href="https://www.benzinga.com/25/05/45215631/google-faces-potential-ad-business-split-as-doj-pushes-for-adx-and-dfp-divestiture" rel="noreferrer noopener">for Publishers</a><a target="_blank" href="https://www.benzinga.com/25/05/45215631/google-faces-potential-ad-business-split-as-doj-pushes-for-adx-and-dfp-divestiture" rel="noreferrer noopener">&nbsp;(DFP) ad server</a>.
Warren Buffett, 94, announced that he plans to step down as CEO of Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) by the end of the year, bringing to a close one of the most celebrated <a target="_blank" href="https://www.benzinga.com/25/05/45187070/warren-buffett-retires-after-decades-of-dominancefrom-tim-cook-to-mark-cuban-worlds-top-business-leaders-react-to-the-investment-icons-exit" rel="noreferrer noopener">careers in corporate America</a>.
Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is officially shutting down Skype after more than two decades of service, encouraging users to migrate to&nbsp;Microsoft Teams, its modern <a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45187948/skype-is-officially-retiring-today-if-youd-invested-1000-when-microsoft-bought-it-in-2011-heres-what-youd-be-sitting-on-now" rel="noreferrer noopener">communication and collaboration platform</a>.
Microsoft co-founder&nbsp;Bill Gates&nbsp;spoke about the disruption in international climate cooperation in the wake of <a target="_blank" href="https://www.benzinga.com/media/25/05/45216185/bill-gates-says-trumps-climate-rollbacks-may-have-slowed-progress-but-microsoft-co-founder-doesnt-think-thats-a-permanent-thing-as-americas-commitment-to-clean-energy" rel="noreferrer noopener">President&nbsp;</a><a target="_blank" href="https://www.benzinga.com/media/25/05/45216185/bill-gates-says-trumps-climate-rollbacks-may-have-slowed-progress-but-microsoft-co-founder-doesnt-think-thats-a-permanent-thing-as-americas-commitment-to-clean-energy" rel="noreferrer noopener">Donald Trump</a><a target="_blank" href="https://www.benzinga.com/media/25/05/45216185/bill-gates-says-trumps-climate-rollbacks-may-have-slowed-progress-but-microsoft-co-founder-doesnt-think-thats-a-permanent-thing-as-americas-commitment-to-clean-energy" rel="noreferrer noopener">&#8216;s campaign</a>.
Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO&nbsp;Mark Zuckerberg&nbsp;has become the world&#8217;s second-richest person, overtaking&nbsp;Amazon.com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) <a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45213068/mark-zuckerberg-overtakes-jeff-bezos-to-become-worlds-second-richest-person-as-meta-stock-soars" rel="noreferrer noopener">founder&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45213068/mark-zuckerberg-overtakes-jeff-bezos-to-become-worlds-second-richest-person-as-meta-stock-soars" rel="noreferrer noopener">Jeff Bezos</a>.
Meta-owned&nbsp;WhatsApp&nbsp;has secured a $168 million jury verdict against&nbsp;NSO Group, the Israeli firm behind the controversial&nbsp;Pegasus&nbsp;spyware, <a target="_blank" href="https://www.benzinga.com/25/05/45245661/metas-whatsapp-wins-168-million-verdict-against-pegasus-spyware-maker-nso-group-for-2019-hack" rel="noreferrer noopener">over a 2019 hacking incident</a>.
Smartphones
Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly planning a significant shift in its iPhone release strategy, beginning with the&nbsp;<a target="_blank" href="https://www.benzinga.com/media/25/05/45187563/apple-plans-major-iphone-launch-overhaul-with-biannual-release-schedule-starting-2026-report" rel="noreferrer noopener">iPhone 18</a><a target="_blank" href="https://www.benzinga.com/media/25/05/45187563/apple-plans-major-iphone-launch-overhaul-with-biannual-release-schedule-starting-2026-report" rel="noreferrer noopener">&nbsp;series in 2026</a>.
Apple has expressed apprehension over the potential financial consequences of a contempt ruling in favor of&nbsp;Epic Games. The tech giant has warned that this <a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45277610/apple-warns-of-hundreds-of-millions-to-billions-dollar-losses-over-epic-games-ruling-seeks-stay-amid-app-store-shakeup" rel="noreferrer noopener">ruling could lead to "substantial" financial losses</a>.
Automobiles &amp; Semiconductors
Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reportedly has over 10,000 units of the Cybertruck in its domestic inventory as the company grapples with poor sales and <a target="_blank" href="https://www.benzinga.com/markets/25/05/45216453/tesla-has-over-10000-units-of-unsold-cybertrucks-in-its-us-inventory-amid-poor-sales-report" rel="noreferrer noopener">an aging line-up of vehicles</a>.
Tesla will no longer sell the range extender battery pack for its Cybertruck. The range extender would have let the <a target="_blank" href="https://www.benzinga.com/25/05/45281224/tesla-ditches-16000-cybertruck-range-extender-as-sales-dwindle-in-the-us" rel="noreferrer noopener">vehicle achieve a range of over 500 miles</a>.
Future Fund LLC&#8216;s&nbsp;Gary Black&nbsp;criticized&nbsp;Elon Musk&#8216;s EV giant&nbsp;Tesla over the company&#8217;s lack of<a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45252004/gary-black-says-tesla-should-be-educating-non-ev-owners-as-market-leader-tsla-never-acted-like-a-true" rel="noreferrer noopener"> communication and poor marketing strategy</a>.
ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) executives reassured investors that the company's business model protects it from direct tariff impacts amid growing U.S.-China trade tensions, according to its <a target="_blank" href="https://www.benzinga.com/25/05/45277764/arm-says-tariffs-cant-touch-its-business-as-ai-boom-fuels-record-revenue-cant-run-ai-without-arm-ceo-rene-haas-says" rel="noreferrer noopener">fourth quarter of 2025 earnings call</a>.
Artificial Intelligence (AI)
ChatGPT-parent&nbsp;OpenAI&nbsp;said that it will retain its nonprofit parent&#8217;s control over&nbsp;its for-profit operations, scaling back a plan to transition fully to a public benefit corporation amid mounting <a target="_blank" href="https://www.benzinga.com/markets/25/05/45213089/openai-reverses-course-as-sam-altman-says-nonprofit-will-remain-in-control-amid-elon-musks-lawsuit-and-investor-pushback" rel="noreferrer noopener">legal pressure and investor concerns</a>.
OpenAI&nbsp;reportedly plans to cut the share of revenue it pays to&nbsp;Microsoft by at least half <a target="_blank" href="https://www.benzinga.com/25/05/45244190/microsoft-faces-fresh-revenue-hit-as-openai-plans-to-reduce-payouts-by-2030-report" rel="noreferrer noopener">by the end of the decade</a>.
OpenAI&nbsp;is reportedly negotiating with a senior technology executive to <a target="_blank" href="https://www.benzinga.com/media/25/05/45276129/openai-reportedly-reshaping-leadership-taps-senior-executive-to-run-divisions-beyond-sam-altmans-ai-focus" rel="noreferrer noopener">take on a major leadership role</a>.

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Consumer Tech News (May 5-May 9): Google Faces Divestiture Demand From US DoJ, Microsoft Pulls Plug On Skype, Tesla Axes Cybertruck Range Extender & More

Business professor Scott Galloway's viral call to deny Social Security checks to the wealthiest retirees — "a $1.2 trillion transfer from young people … to the wealthiest generation in history," he says — has reignited a decades-old debate over "means testing."
<h4 class="wp-block-heading">What Galloway Proposes</h4>
On his "Prof G" podcast the NYU professor argued that 10%–30% of affluent seniors should <a href="https://www.benzinga.com/personal-finance/25/02/44057450/scott-galloway-urges-means-testing-for-social-security-i-make-16m-a-year-i-shouldnt-get-a-check?utm_source=chatgpt.com">forfeit benefits</a> because "current workers fund the checks." He framed Social Security as an "uphill wealth transfer," adding, "Every year we effect a $1.2 trillion transfer from young people … to the wealthiest generation in history." According to MSNBC&#8217;s Ryan Teague Beckwith, the idea, long known as <a href="https://www.msnbc.com/top-stories/latest/social-security-scott-galloway-project-47-rcna205591">means testing</a>, resurfaces whenever Congress confronts the program's 2034 solvency deadline.
See also: <a href="https://www.benzinga.com/25/05/45313302/melinda-french-gates-calls-200-billion-gates-foundation-endowment-fantastic-pledges-personal-funds-for-gender-equality-ready-to-set-more-of-an-agenda-here-in-the-united-states">Melinda French Gates Calls $200 Billion Gates Foundation Endowment For Global Health &#8216;Fantastic,&#8217; Pledges Personal Funds For Gender Equality: &#8216;&#8230;Ready To Set More Of An Agenda Here In The United States&#8217;</a>
<h4 class="wp-block-heading">Why Analysts Push Back</h4>
Social Security's administrative tab has stayed below 1% of total outlays since 1989, just 0.5% last year, precisely because every worker and retiree is treated the same. Adding income screens would require new paperwork, audits and appeals. The program's near-universal popularity — 79% of Americans oppose any benefit cuts — also stems from that universality, pollsters tell Pew Research. 
<h4 class="wp-block-heading">Perverse Incentives</h4>
Research by the Center on Budget and Policy Priorities on existing clawbacks shows some seniors already dial down work to avoid earnings cliffs, and broader means testing could magnify that distortion. Analysts argue that eroding worker-benefit symmetry would "destroy the political logic" that kept the program safe for 90 years.
<h4 class="wp-block-heading">The Second-Best Reality</h4>
The Social Security program's universal, earned-benefit ethos helps shield it from political attacks: a 2017 poll commissioned by the National Committee, 79% of likely voters (including Democrats, Republicans and Independents) favor boosting benefits while having wealthier Americans pay in at the same rate as lower earners — making it, in political terms, the least-bad option.
Image via Shutterstock
Read next: <a href="https://www.benzinga.com/general/health-care/25/05/45222153/social-security-halves-overpayment-clawbacks-after-outcry-but-advocates-say-50-cut-still-stings">Social Security Halves Overpayment Clawbacks After Outcry, But Advocates Say 50% Cut Still Stings</a>

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Scott Galloway Wants To Cut Checks For Rich Retirees But Critics Say His 'Fix' Could Break Social Security

The past week has been a whirlwind of political and business news. From President Donald Trump&#8216;s personal calls to CEOs to an attempted assassination of Treasury Secretary Scott Bessent, there&#8217;s a lot to unpack. Let&#8217;s dive into the top stories of the week.
Trump&#8217;s Direct Line to CEOs
President Donald Trump has taken a hands-on approach to dealing with CEOs who make business decisions he disagrees with. A recent example was his call to Amazon&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder, Jeff Bezos, regarding planned tariff disclosures on the e-commerce giant&#8217;s site. Trump recounted the call during an interview on NBC&#8217;s &#8220;Meet the Press,&#8221; where he shared that Bezos immediately dropped the idea after their conversation. 
<a href="https://www.benzinga.com/politics/25/05/45193684/donaldtrump-vows-to-call-up-ceos-who-make-business-moves-that-displease-him-explains-why-he-phoned-jeffb">Read the full article here.</a>
Attempted Assassination of Scott Bessent
A Massachusetts man, Ryan English, has been arrested and charged with the attempted assassination of Treasury Secretary Scott Bessent. English was apprehended on Capitol grounds, armed with two Molotov cocktails and a knife. The Department of Justice revealed that English had originally planned to target Mike Johnson and Pete Hegseth. 
<a href="https://www.benzinga.com/25/05/45306673/scott-bessent-attempted-assassination-charged-massachusetts-man-originally-planned-to-target-mike-johnson-and-pet">Read the full article here.</a>
See Also: <a href="https://benzinga.com/news/25/03/44211508/mark-cuban-once-questioned-whether-donald-trump-is-really-a-billionaire" target="_blank" rel="noreferrer noopener">Mark Cuban Once Questioned Whether Donald Trump Is Really a Billionaire, Here's What He Said &#8211; Benzinga</a>
Rep. Marjorie Taylor Greene&#8217;s Frustration
Rep. Marjorie Taylor Greene (R-Ga.) has expressed her dissatisfaction with the current direction of U.S. foreign and domestic policies. In a post on X, she voiced concerns about the U.S.&#8217;s potential involvement in a war with Iran and the recent U.S.-Ukraine minerals deal. She also criticized the Trump administration for becoming disconnected from its base. 
<a href="https://www.benzinga.com/news/25/05/45188098/rep-marjorie-taylor-greene-frustrated-and-upset-with-the-trump-administration-questions-us-foreign-policy-yo">Read the full article here.</a>
JD Vance Criticizes Jerome Powell
Vice President JD Vance has openly criticized Federal Reserve Chair Jerome Powell for his handling of economic issues. During an interview with Fox News, Vance echoed President Trump&#8217;s criticisms, labeling Powell as a "nice guy" but wrong about almost everything, particularly concerning inflation and trade agreements. 
<a href="https://www.benzinga.com/25/05/45307792/jd-vance-says-trump-is-right-about-jerome-powell-the-fed-chair-a-nice-guy-but-wrong-about-almost-everything">Read the full article here.</a>
GOP Warns Against Staff Cuts at Social Security
House Republicans have warned newly confirmed Social Security Administration Commissioner Frank Bisignano against further staff reductions. In a letter led by Rep. Nicole Malliotakis (R-NY), the GOP emphasized that while government efficiency is important, it should not come at the expense of Americans who depend on Social Security benefits. 
<a href="https://www.benzinga.com/news/25/05/45281537/gop-warns-trump-appointed-social-security-chief-frank-bisignano-against-further-staff-cuts-citing-risks-to-s">Read the full article here.</a>
Read Next: 
<ul class="wp-block-list">
<li><a href="https://benzinga.com/25/05/45306673/scott-bessent-attempted-assassination-charged-massachusetts-man-originally-planned-to-target-mike-johnson-and-pet" target="_blank" rel="noreferrer noopener">Scott Bessent Attempted Assassination: Charged Massachusetts Man Originally Planned To Target Mike Johnson And Pete Hegseth</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

Marjorie Taylor Greene 'Frustrated And Upset' With Team Trump, Attempted Assassination Of Scott Bessent, JD Vance Slams Jerome Powell And More: Top Political Updates

<a href="https://truthsocial.com/@realDonaldTrump/114487190752990599">https://truthsocial.com/@realDonaldTrump/114487190752990599</a>
<a href="https://truthsocial.com/@realDonaldTrump/114483405683675564" title="https://truthsocial.com/@realDonaldTrump/114483405683675564">https://truthsocial.com/@realDonaldTrump/114483405683675564</a>
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President Trump On Saturday Announced Ceasefire Between India and Pakistan; Said "will work with you both to see if, after a "thousand years," a solution can be arrived at concerning Kashmir."

Elon Musk&#8216;s previous comments on immigrants and entitlement programs were fact-checked by experts while also drawing a comprehensive response from an economics professor.
What Happened: Musk, during an interview in March with Fox Business Network, made contentious remarks suggesting that eradicating waste and fraud in entitlement spending could save between $600 billion and $700 billion each year.
He further alleged that Democrats lure and keep illegal immigrants by paying them to come to the U.S., thereby converting them into voters. These comments sparked a reaction from Geoffrey Sanzenbacher, who felt compelled to issue a <a href="https://crr.bc.edu/the-truth-about-immigrants-medicare-and-social-security/">formal response</a>.
Notably, he did not mention Musk&#8217;s name but referred to him as a &#8220;prominent car manufacturer and space enthusiast.&#8221;
Sanzenbacher, an economics professor and research fellow at Boston College&#8216;s Center for Retirement Research, gave a response based on two premises. Firstly, he stated that unauthorized immigrants are ineligible for Medicare and Social Security benefits.
His research shows little evidence of fraud, and many unauthorized immigrants contribute payroll taxes without receiving benefits, thus supporting the financial stability of these programs.
Second, Sanzenbacher addressed how increasing authorized immigration could impact the financial health of Social Security and Medicare. Research shows that immigrants are generally net contributors to these programs—they pay taxes into the system, their children become participants, and they typically incur lower healthcare costs than U.S.-born individuals.
SEE ALSO:&nbsp;<a href="https://benzinga.com/general/health-care/25/05/45246462/trump-administration-quietly-disbands-key-infection-control-committee-weeks-before-notifying-" target="_blank" rel="noreferrer noopener">Trump Administration Quietly Disbands Key Infection Control Committee Weeks Before Notifying Members, Halting Updates To National Health Guidelines Amid Rising Disease Threats</a>
Why It Matters:&nbsp;Musk&#8217;s comments on <a href="https://www.benzinga.com/25/03/44384003/elon-musk-says-democrats-are-paying-illegal-immigrants-through-entitlement-spending-experts-say-hes-wrong">entitlement programs</a> and immigration have been a subject of controversy and debate. It drew sharp criticism from experts like the SSA Inspector General and the SSA head under the Biden administration.
In February 2025, Musk also sparked a debate on Social Security <a href="https://www.benzinga.com/news/25/02/43774570/elon-musk-sparks-debate-on-social-security-data-after-report-finds-millions-of-alive-centenarians-in-america">data accuracy</a>. He has been vocal about inefficiencies in federal spending, criticizing the Treasury&#8217;s payment system and suggesting that it results in over $2 trillion <a href="https://www.benzinga.com/personal-finance/25/03/44328962/1-9-billion-federal-scam-2-trillion-in-federal-waste-the-latest-findings-from-doge-as-elon-musk-says-money-is-poorly-spent">in waste</a> each year.
While Sanzenbacher stated that he does not endorse unrestricted immigration due to potential impacts on wages and labor shortages, he refutes the idea that immigrants come to the U.S. to exploit entitlements, stating, &#8220;If&nbsp;anything, these programs take advantage&nbsp;of them.&#8221;
The economics professor also called Musk&#8217;s argument about immigrants taking advantage of these systems &#8220;complete fiction.&#8221;
READ MORE:
<ul class="wp-block-list">
<li><a href="https://benzinga.com/25/05/45244989/lucid-group-q1-2025-earnings-tesla-rival-announces-58-increase-in-deliveries-plans-to-introduce-a-mid-size-platfo" target="_blank" rel="noreferrer noopener">Tesla-Rival Lucid Announces 58% Increase In Deliveries, Plans To Introduce Mid-Size Platform In 2026</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elon Musk Got Schooled By An Economics Professor Over His Remarks On Medicare, Social Security As Immigration Lure: 'Complete Fiction'

<a href="https://truthsocial.com/@realDonaldTrump/114486066663976973" title="https://truthsocial.com/@realDonaldTrump/114486066663976973">https://truthsocial.com/@realDonaldTrump/114486066663976973</a>

President Trump In Truth Social Post On Saturday Said "A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner..."

This week brought a flurry of activity to the cryptocurrency market. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) breached the $100,000 milestone, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) also saw significant gains. Meanwhile, former White House Communications Director Anthony Scaramucci shared his thoughts on President Donald Trump&#8216;s foray into the crypto world, and Dogecoin hinted at a potential trend reversal. Here&#8217;s a closer look at these stories.
Bitcoin Nears $104,000 &#8211; The cryptocurrency market experienced a sharp rally on Thursday following a trade deal between the Trump administration and the United Kingdom. Bitcoin, the leading cryptocurrency, nearly hit $104,000 in a volatile trading session, marking a significant increase from its three-month wait at the $100,000 milestone. Trading volume for the cryptocurrency also rose by 59% in the last 24 hours. <a href="https://www.benzinga.com/25/05/45308288/bitcoin-closing-in-on-104000-ethereum-dogecoin-rally-on-trade-deal-optimism-analytics-firm-highlights-the-double-edged-sword-amid-bullish-sentiment">Read the full article here.</a>
Scaramucci Grades Trump&#8217;s Crypto Moves &#8211; Anthony Scaramucci, former White House Communications Director, expressed concern over President Trump&#8217;s increasing involvement in the cryptocurrency industry. Speaking at the Financial Times Digital Asset Summit, Scaramucci criticized Trump-related crypto ventures, including a Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin and a stablecoin backed by his son Eric Trump, as potential distractions that could hinder the development of sound digital asset policies. <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45253032/anthony-scaramucci-gives-donald-trump-b-or-a-on-crypto-but-warns-presidential-meme-coin-de">Read the full article here.</a>
See Also: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45282706/bitcoin-close-to-100000-ethereum-xrp-dogecoin-pump-as-trump-touts-trade-deal-with-the-uk" target="_blank" rel="noreferrer noopener">Bitcoin Close To $100,000, Ethereum, XRP, Dogecoin Pump As Trump Touts Trade Deal With The UK &#8211; Benzinga</a>
Dogecoin Teases Trend Reversal &#8211; After a period of relatively quiet price action, Dogecoin may be preparing for a trend reversal. Crypto trader Trader Tardigrade identified a potential &#8220;Diamond Bottom&#8221; pattern on the daily chart, a classic signal of a downtrend ending and an uptrend beginning. <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45233324/dogecoin-teases-diamond-bottom-reversal-is-a-breakout-imminent">Read the full article here.</a>
MARA Holdings Reports Drop in Bitcoin Production &#8211; Shares of MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) traded lower after the company reported a 15% month-over-month decrease in Bitcoin mining in April. The company mined 705 Bitcoin in April, down from 829 in March and slightly lower than the 706 Bitcoin produced in February. <a href="https://www.benzinga.com/25/05/45193859/mara-holdings-says-bitcoin-production-fell-15-last-month-shares-move-lower-with-earnings-on-the-horizon-whats-going-on">Read the full article here.</a>
Buffett&#8217;s Berkshire vs. Bitcoin &#8211; Warren Buffett, who recently announced his retirement as CEO of Berkshire Hathaway Inc., has built a significant investment legacy over the years. However, Bitcoin, the asset he once referred to as &#8216;rat poison,&#8217; has delivered returns at a faster rate than Berkshire Hathaway since its listing. <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45280752/warren-buffetts-berkshire-delivered-a-16000-gain-since-listing-but-bitcoin-the-asset-he-called-rat-poison-turned-pennies-into-fortunes-faster">Read the full article here.</a>
Read Next: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45316050/bitcoin-ethereum-xrp-dogecoin-lead-crypto-rally" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Continue Surging &#8211; Benzinga</a>
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Anthony Scaramucci On Trump's Crypto Moves, Bitcoin Nears $104K And More: This Week In Crypto

Shoppers could soon find empty shelves just as summer kicks into high gear. Retailers are facing dwindling inventories, with only 6–8 weeks of supply left, according to the<a href="https://www.washingtonpost.com/opinions/2025/04/29/trump-china-tariffs-damage"> Washington Post.</a>
"Things will become scarce during the big summer holidays," Rita McGrath, a management professor at Columbia Business School, told the <a href="https://nypost.com/2025/04/21/business/mom-and-pop-business-face-highest-risk-of-shortages-from-trump-trade-war-with-china-with-possibility-of-empty-shelves-by-summer/">New York Post</a> in an interview last month.&nbsp;&nbsp;
<h2 class="wp-block-heading">Tariffs Set Off Shipping Freefall</h2>
In late April, importers scrambled to get goods into the country ahead of new tariffs announced by President Donald Trump's administration.&nbsp;
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On April 2, <a href="https://www.youtube.com/watch?v=riXtBAi5Kk4">Trump announced</a> a 54% tariff targeting Chinese imports, before sharply increasing it to 145% on April 9. The short 90-day delay in implementation was granted to key trading partners—including Canada, Mexico, and the European Union—but not to China—putting major pressure on American importers relying on Chinese goods.
According to <a href="https://www.vizionapi.com/blog/tariff-shockwave-us-import-bookings-collapse-after-q1-surge">Vizion</a>, an API-based shipment tracking platform, bookings from China to the U.S. fell by 44.49% year-over-year for the week of April 14. This sudden decrease has resulted in numerous &#8220;blank sailings,&#8221; where scheduled cargo ships are canceled due to lack of demand.
<h2 class="wp-block-heading">Small Retailers Brace For Inventory Crunch</h2>
Jonathan Gold, vice president for supply chain and customs policy at the National Retail Federation,&nbsp; said in an <a href="https://nrf.com/media-center/press-releases/import-cargo-levels-to-drop-sharply-amid-new-tariffs-and-uncertainty">April 9 statement</a> that small- and medium-sized retailers would be the first to face inventory shortages. "Small businesses, in particular, could be hit hardest as tariffs continue rattling global supply chains," he said.
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Descartes, a provider of logistics and supply chain management solutions, <a href="https://www.descartes.com/resources/knowledge-center/global-shipping-report-strong-march-imports-despite-escalating-tariffs">reported in March</a>, that China accounted for 32% of U.S. container imports, with top categories including furniture, plastics, and bedding. China&#8217;s <a href="https://www.descartes.com/resources/knowledge-center/global-shipping-report-july-2024-us-container-imports-break-2.5m-TEU-mark">share in July was 40%</a>, with consumer-oriented goods like furniture and plastics leading the imports.
Up to 80% of businesses that rely on Chinese imports could face bankruptcy under the new tariff structure, warned Flexport CEO Ryan Petersen during an appearance on "<a href="https://www.youtube.com/watch?v=-dgHWv-Dh6Q">The Prof G Pod" </a>with Scott Galloway.
<h2 class="wp-block-heading">Blank Sailings Surge As Imports Stall</h2>
Shipping companies are slashing departures. The <a href="https://www.joc.com/article/trans-pacific-blank-sailings-set-to-rise-after-china-bookings-drop-sharply-5984166">Journal of Commerce</a> reported on April 21 that blank sailings were set to spike as orders dry up. Freight company HLS Group also logged at least 80 canceled sailings from China.
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<h2 class="wp-block-heading">Shoppers Could See Shortages Soon</h2>
The ripple effects may be felt quickly. The <a href="https://nypost.com/2025/04/21/business/mom-and-pop-business-face-highest-risk-of-shortages-from-trump-trade-war-with-china-with-possibility-of-empty-shelves-by-summer/">New York Post</a> reported McGrath predicted shortages could surface within weeks for goods that cannot be stockpiled, like seasonal products.&nbsp;
In a February interview with <a href="https://www.logisticsmgmt.com/article/qa_anne_reinke_president_ceo_of_the_intermodal_association_of_north_america">Logistics Management</a>, Anne Reinke, president of the Intermodal Association of North America, warned that while recent tariff reprieves may ease pressure temporarily, they won&#8217;t prevent looming supply disruptions across the intermodal network.
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'Things Will Become Scarce During The Big Summer Holidays' – What Experts Say Is Coming With 8 Weeks Of Supply Left

You've heard the saying: all press is good press. It's a favorite line in Hollywood, politics—and apparently, Silicon Valley boardrooms. Fortunately, Elon Musk seems to agree. The <a href="https://www.benzinga.com/startups/25/01/43101102/elon-musk-the-richest-man-in-the-world-is-estimated-to-earn-over-23-million-every-single-hour-of-the-day-heres-how-hes-spending-it">world's richest man</a> has never been one to sweat the headlines, even when they've taken aim at Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
And lately, they've been taking aim a lot.
But if Musk is rattled, he's not showing it. In fact, he's been through worse—and came out smiling.
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In a <a href="https://youtu.be/u5w_VkAx6tc?si=Y-FiPNEMfw6t5DE8">2022 interview with "Tesla Owners Silicon Valley"</a>, Musk reflected on years of relentless bad press. He recalled that from around 2017 through 2019, the media ran a "non-stop hate stream." "It was like, hate. Like Tesla's a fraud. Tesla's a failure. Fraudulent failure." Then he added, "I remember… for like three years straight the headlines would just be trashing Tesla all over and over and over again. And our sales went up."
"So I guess keep trashing us," he added. "At the end of the day, people were like, ‘Oh yeah, I just kept reading about Tesla. I can't remember what the article was about, but I know I <a href="https://www.benzinga.com/markets/equities/25/03/44414187/elon-musks-tesla-recalls-over-46000-cybertrucks-due-to-safety-concerns">read about Tesla 17 times</a>.' He acknowledged there's "some truth" to the old saying that "all press is good press."
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Tesla has faced a rough 2025. On March 10, its shares plunged 15%, marking its worst single-day performance since September 2020. This sharp fall wiped out over $800 billion in market capitalization from Tesla's December peak.&nbsp;
Sales have slumped and Musk's political controversies—have sparked protests and <a href="https://www.benzinga.com/news/25/03/44550250/elon-musks-father-says-tesla-vandalism-and-protests-are-just-free-publicity-claims-all-the-stocks-have-come-down-not-just-tesla">even vandalism at Tesla dealerships</a>. To top it off, rumors swirled that Tesla's board wanted Musk replaced, although Musk and the board quickly <a href="https://x.com/Tesla/status/1917812113315074055">shut those down as "absolutely false."</a>
Musk, regardless, is determined not to fail. Back <a href="https://youtu.be/23GzpbNUyI4?si=URDV-gyQH-0gtR3w">in a 2012 "60 Minutes" interview</a>, when asked about overcoming failures, he famously said: "I don't ever give up. I'd have to be dead or completely incapacitated."
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Today, despite sagging numbers, Tesla's stock did climb from the recent lows. Investors are betting on a turnaround—and Musk has pledged to focus more on Tesla moving forward.
It's a familiar story in Musk's entrepreneurial playbook: critics pile on, markets wobble, and Musk doubles down. Whether it's building rockets, boring tunnels, or selling electric cars, he's thrived on defying expectations. Even if those expectations come wrapped in negative headlines.
As Musk himself put it, bad press might just keep the brand in the spotlight. Keep the stories coming. Musk's not giving up—and he's betting Tesla's customers won't either.
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Image: Shutterstock

Elon Musk Says For 3 Years Straight, Headlines Would 'Trash' Tesla And Sales Went Up But All Press Is Good Press — 'So I Guess Keep Trashing Us'

It must be one of the great ironies of wealth: the richer you are, the more free stuff you get. Celebrities get gifting suites. Athletes get free gear. And billionaires? Apparently, <a href="https://www.benzinga.com/personal-finance/25/04/45056962/bill-gates-says-hes-happier-as-a-billionaire-than-if-he-were-middle-class-you-dont-need-a-billionbut-freedom-from-worry-is-a-blessing">they get free Big Macs</a>.
That's right—Bill Gates, <a href="https://www.forbes.com/real-time-billionaires/">worth well over $100 billion</a>, has a McDonald's "gold card" granting him free meals for life anywhere in the world. And while it may sound like a recent social media stunt, the story behind Gates' golden ticket actually stretches back almost two decades—and involves his good friend, Warren Buffett.
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We likely first heard about these elusive McDonald's cards in 2007, when Buffett casually revealed his own <a href="https://www.cnbc.com/2007/10/29/whats-in-warren-buffetts-wallet.html">during a CNBC interview</a>. Pulling out his wallet, the Berkshire Hathaway CEO flashed his McGold card and joked, "Bill Gates has one. His is good throughout the world, I guess. Mine is only good in Omaha, but I never leave Omaha so mine is just as good as his!"
Buffett, a well-documented McDonald's enthusiast, is known for ordering sausage McMuffins for&nbsp; breakfast and "splurging" on bacon egg and cheese biscuits <a href="https://www.benzinga.com/personal-finance/24/10/41230382/warren-buffett-lets-the-stock-market-decide-his-mcdonalds-breakfast-order-when-its-up-he-spends-">when the market is up</a>. He didn't elaborate much more about the elusive card at the time. But the idea of billionaires eating for free sparked plenty of curiosity.
For years, Gates never publicly confirmed his McGold status. That changed in January, when he <a href="https://www.tiktok.com/t/ZTjDVkhT1/">appeared in a TikTok clip</a> with celebrity chef and social media star Nick DiGiovanni. In the lighthearted video, DiGiovanni asked, "Bill, is it true you have a McDonald's gold card?"
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Gates didn't just say yes—he whipped it out.
The card read:
"Be our guest Bill Gates — Entitled to a complimentary meal at any McDonald's"
Signed by Michael R. Quinlan, McDonald's Chairman and CEO during <a href="https://www.historyoasis.com/post/mcdonalds-ceo-history">the late 1980s and 1990s</a>. That little detail suggests Gates' card was issued somewhere between 1987 and 1999.
As for how he got it? Gates explained: "They actually sent it to me. My friend Warren Buffett got one before I did. But then a few months later, they sent one to me. But I tend not to use it since I can afford to buy the food."
Still, it's a lifelong perk, he added—and confirmed he's "a quarter pounder with cheese guy." When asked how many other golden cards might be floating around, Gates smiled and said, "Hopefully for them, not too many."
DiGiovanni tried his luck asking to borrow it, but Gates—clearly in a playful mood—declined, "Rules are pretty clear." Instead, he handed the chef a $50 gift certificate.
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As for the McGold cards themselves, their exact number remains a mystery. The few confirmed holders include Gates, Buffett, and actor Rob Lowe. Most cbards are hyper-local, valid only in specific cities or franchises. Gates' global pass makes his especially rare. McDonald's has occasionally offered McGold Cards through limited-time contests—most recently in December 2022, when a sweepstakes awarded twelve cards allowing winners two free meals a week for fifty years.
But for billionaires like Gates and Buffett, it seems the real value lies more in the novelty than the free fries. Gates even once told a <a href="https://news.mit.edu/2010/gates-visit-0422">2010 MIT audience</a>, "I still haven't found any burgers at any price that are better than McDonald's." He added that after a person reaches a certain net worth, adding more wealth "doesn't mean much. Success becomes all about how you're going to give it back."
So while Gates could dine at the fanciest restaurants on Earth, sometimes nothing beats the taste—or the nostalgia—of a simple cheeseburger. Apparently, even billionaires think the Golden Arches are golden for a reason.
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Billionaire Bill Gates Has A 'McGold Card' That Gives Him Free McDonald's Meals For Life, Anywhere In The World — But Says 'I Tend Not To Use It'

India and Pakistan agreed to a U.S.-brokered ceasefire on Saturday after days of <a target="_blank" href="https://www.benzinga.com/news/global/25/05/45335338/trump-makes-india-pakistan-ceasefire-declaration-in-casual-manner-thank-you-for-your-attention-to-this-matter" rel="noreferrer noopener">heavy cross-border fighting</a>. But just hours later, explosions in Srinagar and Jammu raised doubts about how long the truce would hold, Reuters reports.
India&#8217;s Foreign Secretary Vikram Misri said in a briefing: &#8220;For the last few hours there have been repeated violations of the understanding arrived at earlier this evening between the director generals of military operations of India and Pakistan&#8221;
&#8220;This is a breach of an understanding arrived at earlier today,&#8221; Misri added.
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However, Pakistan&#8217;s Information Minister Attaullah Tarar told Geo News that no ceasefire violations have occurred, despite rising tensions along the LoC, per a report <a href="https://www.aljazeera.com/news/2025/5/10/india-and-pakistan-agree-to-an-immediate-ceasefire-after-days-of-escalation" target="_blank" rel="noreferrer noopener">from</a> Al Jazeera.
&nbsp;Early on Saturday morning, President Trump made a casual announcement about the ceasefire agreement between India and Pakistan.
"After&nbsp;a long night of talks&nbsp;mediated by the United States,&nbsp;I am pleased to announce&nbsp;that India and Pakistan have&nbsp;agreed to a FULL AND&nbsp;IMMEDIATE CEASEFIRE. Congratulations&nbsp;to both Countries on using&nbsp;Common Sense and Great Intelligence.&nbsp;Thank you for your attention&nbsp;to this matter!," Trump&nbsp;<a target="_blank" href="https://truthsocial.com/@realDonaldTrump/posts/114483405683675564" rel="noreferrer noopener">posted&nbsp;</a>on Truth Social.
The ceasefire, brokered with assistance from the United States, Saudi Arabia, and Turkey, aimed to halt the most severe military confrontation between the two nations in nearly three decades.
The conflict was initially triggered by India&#8217;s airstrikes on what it described as &#8220;terrorist infrastructure&#8221; in Pakistani-administered Kashmir, following a deadly attack that killed 26 Hindu tourists in Indian Kashmir. Despite the agreement, Indian officials accused Pakistan of violating the ceasefire through cross-border shelling and drone intrusions, leading to further escalations.
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General

India-Pakistan Ceasefire Teeters As Blasts Shatter Calm In Kashmir

Mark Zuckerberg, the founder of&nbsp;Meta, is in the limelight for his extravagant collection of wristwatches. The billionaire&#8217;s assortment ranges from an affordable Casio to a staggering $900,000 Greubel Forsey piece.
What Happened: Zuckerberg&#8217;s collection boasts of a variety of luxury watches. One of the highlights is&nbsp;a Grand Complications In-Line Perpetual&nbsp;Calendar watch from Patek Philippe, revealed in an Instagram post in September 2024. This timepiece, featuring&nbsp;a platinum case and an&nbsp;alligator-leather band, is priced at $141,400.
During a podcast event in September 2024, Zuckerberg was spotted wearing&nbsp;a DB25 Starry Varius from&nbsp;the Swiss watch brand De&nbsp;Bethune. The rose-gold model, one of only 20 produced annually, carries a hefty price tag of over $80,000.
As per the report <a href="https://www.businessinsider.com/mark-zuckerberg-watch-collection-2025-5#his-watch-collection-isnt-entirely-luxurious-7">by </a>Insider, at the 2024 Meta Connect conference, Zuckerberg sported&nbsp;a watch from the Swiss&nbsp;brand F.P. Journe&#8217;s Souveraine collection.&nbsp;Made entirely of aluminum, this watch was projected to fetch between $30,000 and $54,000 at auction.
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In a video from January 2025, Zuckerberg was seen donning&nbsp;a Greubel Forsey watch that&nbsp;retails for over $900,000. This white gold watch, comprising 281 pieces, is hand-assembled with only two or three units crafted each year.
His collection also includes&nbsp;a yellow-gold Rolex Daytona Le&nbsp;Mans, with&nbsp;a resale value of up&nbsp;to $300,000, and a GA2100WS-7A from Casio&#8217;s G-Shock line, which retails for $120, making it the most affordable watch he has publicly worn.
Why It Matters: Mark Zuckerberg&#8217;s watch collection is a testament to his diverse taste and appreciation for craftsmanship. The range of his collection, from a modest Casio to a luxurious Patek Philippe, reflects his eclectic style. 
His choice of timepieces, often seen during public appearances, has sparked interest and curiosity among watch enthusiasts and followers alike.
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Social Media

Mark Zuckerberg's Exquisite Watch Collection: From Affordable Casio To Luxurious $141,400 Patek Philippe, He Has It All

When it comes to personal finance, Suze Orman is clear: You are the best person to take care of your financial future. In a recent episode of her "<a href="https://omny.fm/shows/suze-ormans-women-and-money/suze-school-the-actions-you-need-to-take-now-with-your-money">Women &amp; Money</a>" podcast, she reminded listeners that "the government can't save you," and encouraged everyone to take responsibility for three key areas: debt, income and expenses, and investments.
Here's how Orman breaks it down — and what actions she suggests taking now.
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<h2 class="wp-block-heading">1. Take Control of Your Debt</h2>
Orman separates debt into two categories: good and bad. Good debt might include a mortgage or a car loan — especially if you need the car to get to work. Bad debt, on the other hand, usually comes in the form of high-interest credit card balances used for nonessential spending.
If you're dealing with <a href="https://www.benzinga.com/news/25/02/43888952/americans-owe-a-record-1-21-trillion-in-credit-card-debt-expert-warns-theres-no-end-in-sight">credit card debt</a>, Orman suggests organizing your cards by interest rate, from highest to lowest. Write down the minimum payment due on each one, then total those minimums and add 20% to the total. You'll make the minimum payments on all cards, but apply the extra 20% toward the card with the highest interest rate. Once that one's paid off, you roll the entire amount you were paying into the next highest card — and so on — until the debt is gone.
She also encourages maintaining your credit limit, warning that closing cards can lower your FICO score.
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<h2 class="wp-block-heading">2. Review Income and Expenses</h2>
The next area <a href="https://www.benzinga.com/personal-finance/25/04/44715539/suze-orman-says-when-sentiment-is-this-fearful-its-not-the-time-to-sell-but-if-youll-need-the-mo">Orman</a> says to evaluate is your cash flow — what's coming in versus what's going out.
Orman suggests a simple exercise: Look at what you spent over the past year and divide that number by 12 to get your average monthly expenses. Then compare that number to your after-tax, after-retirement-contribution income. If your income doesn't cover your expenses — or just barely does — you have some work to do.
"You either have to earn more, or you have to spend less," she says. "Or you can do both."
Orman emphasizes that your relationship with money isn't just about reaching a specific dollar amount. It's about how you value money — and by extension, yourself. Being proactive about your income and expenses now can help you avoid painful surprises down the line.
See Also: <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>
<h2 class="wp-block-heading">3. Keep Investing for the Long Term</h2>
Finally, Orman says you should continue investing steadily — especially in retirement accounts like Roth IRAs, 401(k)s, or 403(b)s — if you don't need the money for at least five to 10 years.
Her advice is to stick with <a href="https://www.benzinga.com/personal-finance/25/03/44550600/redditor-asks-if-dollar-cost-averaging-into-individual-stocks-makes-sense-i-was-thinking-of-adding-another-200-bi-weekly-into-some-individual-us-stocks">dollar-cost averaging</a>: investing the same amount regularly, regardless of market conditions. This strategy helps you buy more shares when prices are low and fewer when prices are high, smoothing out the impact of market volatility over time.
And if you're 50 or older, don't forget: You can contribute up to $8,000 to an IRA in 2025, thanks to catch-up contributions.
<h2 class="wp-block-heading">The Bottom Line</h2>
Orman's message is simple but powerful: The economy, markets, and government programs may be uncertain, but your personal finances don't have to be. Focus on eliminating bad debt, understanding your spending, and investing for your future.
After all, as she puts it, "Nobody is going to care about your money more than you do."
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Image: Shutterstock

Debt, Income, And Investments: Suze Orman Says We Should All Be Focused On These Because 'The Government Can't Save You'

Elon Musk is <a href="https://www.forbes.com/real-time-billionaires/">worth over $380 billion</a>, yet when his 77-year-old mother, Maye Musk, comes to visit, she doesn't get a penthouse suite or even a plush guest room. Nope — she sleeps on blankets, couches, or a mattress in his garage. And she's perfectly fine with it.
"You can't have a fancy house near a rocket site," Maye explained in a 2022 <a href="https://www.thetimes.com/culture/books/article/maye-musk-i-called-elon-genius-boy-he-remembered-everything-z0l2ds0sh">interview with The Times of London</a>, referencing SpaceX's Starbase launch facility in Texas. "I have to sleep in the garage."
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She's not exaggerating. In fact, Maye's made light of the situation multiple times. In an <a href="https://x.com/mayemusk/status/1645682178246823937">X post the same year</a>, she shared:
"Many memories of sleeping on mattresses or blankets on the floor, on couches, or a bed in the garage. This happens to @kimbal @ToscaMusk and me. We adapt. It's still better than sleeping on the ground in the Kalahari Desert with lions or hyenas nearby, which I did as a child."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Not wrong at all! Many memories of sleeping on mattresses or blankets on the floor, on couches, or a bed in the garage. This happens to <a href="https://twitter.com/kimbal?ref_src=twsrc%5Etfw">@kimbal</a> <a href="https://twitter.com/ToscaMusk?ref_src=twsrc%5Etfw">@ToscaMusk</a> and me. We adapt. It's still better than sleeping on the ground in the Kalahari Desert with lions or hyenas nearby, which I… <a href="https://t.co/qJaSzrFyHT">https://t.co/qJaSzrFyHT</a>
&mdash; Maye Musk (@mayemusk) <a href="https://twitter.com/mayemusk/status/1645682178246823937?ref_src=twsrc%5Etfw">April 11, 2023</a></blockquote>
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That "we adapt" motto seems to be a Musk family tradition.
It's not just Maye. Elon himself has slept in less-than-glamorous spots. Speaking at the <a href="https://youtu.be/E-squeb0YJA?si=lp49VvGXFgOClccN">2022 Baron Investment Conference</a>, he recalled sleeping on a factory floor in California and Nevada for three years. "It was damn uncomfortable," he admitted.
Trending: <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.
This all fits Musk's minimalist streak. In 2020, he vowed to sell "almost all physical possessions" and declared, <a href="https://x.com/elonmusk/status/1256239554148724737">"Will own no house,"</a> citing freedom as the goal. He followed through, offloading multiple California mansions.
But despite publicly swearing off homeownership, Musk reportedly upgraded to a $6 million, six-bedroom mansion in West Lake Hills, Texas, in 2022 — the same year his mom said she was sleeping in the garage, according to <a href="https://www.nytimes.com/2025/05/05/technology/elon-musk-texas-neighbors.html">The New York Times</a>. A 16-foot chain-link fence around the property quickly tipped off neighbors that this wasn't just any new arrival.
So, yes, while Musk officially claimed to own only a $50,000, two-bedroom tiny home near the launch site, reports suggest he may have had some real estate back in rotation. Whether that house was close enough to the rocket site for Maye's comfort is up for debate.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
When skeptics on X asked Musk in 2023 about persistent rumors of his father's supposed connection to an emerald mine, Elon shot back, "I'd just like to see a picture of this mine. Like, where is it exactly!?" <a href="https://x.com/mayemusk/status/1655176037607645184">Maye chimed in shortly after</a>, writing, "Me too! And why did we sleep in one-bedroom apartments and on the floor?" effectively shutting down the long-running myth.
Whether it's a garage floor, a couch, or the occasional $6 million mansion, the Musk family seems <a href="https://www.benzinga.com/startups/25/01/43101102/elon-musk-the-richest-man-in-the-world-is-estimated-to-earn-over-23-million-every-single-hour-of-the-day-heres-how-hes-spending-it">more focused on adaptability than luxury</a>.
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Elon Musk's 77-Year-Old Mom Says 'I Have To Sleep In The Garage' And On Floor Blankets When Visiting Her Son — Richest Man In The World: 'We Adapt'

Editor's note: This article was originally published on Forbes in January 2025. It has been updated in May 2025 to reflect new developments, including Brittney Griner's canceled appearance at the Women Grow summit.
"I believed in the plant, even when everyone told me I was throwing my life away," says <a href="https://elplanteo.com/chanda-macias-reina-zulu-cannabis/">Dr. Chanda Macias</a>.
Macias stands out in the cannabis space as a scientist, entrepreneur and trailblazer. As the CEO of National Holistic Healing Center in Washington, D.C., she became the first Black woman to open and operate a medical cannabis dispensary on the East Coast. But her journey wasn't easy.
Raised in a working-class family, Macias became a single mother as a teenager when her son's father was incarcerated during the height of the war on drugs. "No one ever thought that I was going to go to college," she recalls. Yet, she enrolled at Howard University, where she discovered a passion for science. "Yes, I was working two jobs and raising a kid, but I fell in love with science," she says.
As Macias pursued cancer-related research, she began noticing the plant&#8217;s potential. "It was common knowledge that if you had cancer, you had to find someone to get marijuana," she explains. Despite its illegality, cannabis was already a quiet staple of symptom relief in her community.
She delved into emerging research, especially studies out of Israel, and approached faculty about integrating cannabis into her work. "He said, ‘It's illegal.' And I'm like, ‘We're scientists,'" she remembers.
Also read: <a href="https://www.benzinga.com/markets/cannabis/25/05/45263739/they-turned-fruit-bouquets-into-a-500m-a-year-businessnow-theyre-selling-thc-heres-why">They Turned Fruit Bouquets Into A $500 Million-A-Year Business—Now They&#8217;re Selling THC. Here&#8217;s Why</a>
Although direct cannabis research was off-limits, Macias pivoted to prostate cancer studies. She later joined Colgate-Palmolive as a scientist, but the desire to return to cannabis never left. When D.C. announced its medical dispensary licensing process in 2012, she immediately said, "I'm doing this."
She drained her savings, stopped paying her mortgage and moved into a small apartment with her family to afford a lease. "I lost my house, but I believed in myself and the plant," she says. Her initial landlord backed out, and it took years of advocacy to secure a location. During that time, Macias traveled to Africa to lead infectious disease research.
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<li>Don't miss Dr. Chanda Macias live at the <a href="https://www.benzinga.com/cannabis-conference">Benzinga Cannabis Capital Conference</a> in Chicago, June 9–10! From losing her home to building a cannabis empire, Dr. Macias brings unmatched insight and inspiration to the stage. <a href="https://www.benzinga.com/cannabis-conference">Grab your tickets now</a>—this is a conversation you need to hear.</li>
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In 2015, she returned to the U.S. after regulators warned her license would be revoked unless she opened within 60 days. With help from D.C. cultivator Corey Barnett, who sold her a single ounce of cannabis on credit, she opened National Holistic Healing Center with 13 patients and furniture from her apartment.
Her work expanded beyond D.C. In Louisiana, Southern University tapped Macias to rescue its struggling medical cannabis program. She raised over $2 million, launched the operation, and helped the HBCU become the first in the U.S. to grow and manufacture legal medical cannabis.
In 2020, she was crowned Queen Zulu during Mardi Gras, joining the ranks of cultural icons like Louis Armstrong. Initially met with resistance due to her cannabis ties, Macias chose not to hide her identity. "The community at first actively tried to remove me," she says. "But the men of Zulu stood up for me. They said, ‘This is our Queen.'"
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Her leadership extended into Women Grow, where she rose to CEO. Under her direction, the organization became a national force for education, mentorship and entrepreneurship.
In 2024, Macias co-created Hope, a product line tailored for children with autism, in partnership with advocate Erica Daniels. Hope generated over $1 million in its first year, offering relief to families seeking alternative treatments.
Women Grow's 2025 Leadership Summit was set to mark another milestone, with WNBA star Brittney Griner scheduled to deliver a keynote. But on Feb. 17, Griner abruptly left the event after finding a disturbing message in her hotel room. Women Grow called it "an attack" and vowed to continue its work.
Also read: <a href="https://www.benzinga.com/markets/cannabis/25/05/45297889/germanys-cannabis-industry-hits-e500m-2500-pharmacies-now-dispense-211-grow-clubs-approved">Germany&#8217;s Cannabis Industry Hits 500 Million Euros: 2,500 Pharmacies Now Dispense, 211 Grow Clubs Approved</a>
"Attacking women for coming together to lead and create change will not stop us," Macias said at the time. "We will not be silenced."
Today, Macias continues to mentor operators, push for equitable legislation and warn about the risks of corporate consolidation. "Taxation will kill your business," she notes. Rescheduling to Schedule III might bring benefits but could also allow Big Pharma to dominate.
For Macias, the mission is deeply personal. Her children grew up with cannabis as medicine. One son, living with Crohn's disease, uses it for relief. Another now works alongside her.
"No means keep trying," she says. "If I'm not out there sharing this message, they might not have a second chance at life."
Disclosure: This article was originally published on <a href="https://www.forbes.com/sites/javierhasse/2025/01/06/how-queen-zulu-dr-macias-lost-her-home-then-built-a-cannabis-empire-and-inspired-brittney-griner/">Forbes</a> and appears here with permission. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
Photo courtesy of Women Grow

Cannabis

Interview

From Homeless To Queen Zulu: Dr. Chanda Macias' Journey To Cannabis Leadership And Brittney Griner's Inspiration

Charlie Munger, the late vice-chairman of Berkshire Hathaway, once offered some words of wisdom for investors dealing with market turbulence.
What Happened: Munger, who was a close collaborator of Warren Buffett at&nbsp;Berkshire Hathaway, underscored the necessity for long-term investors to weather market volatility. He argued that if investors are unable to tolerate substantial market downturns, they are not cut out to be ordinary shareholders.
Munger drew from his personal experience during the 2009 financial meltdown, when his Berkshire Hathaway shares had plummeted by over 50%. Despite this setback, he retained his faith in the company and persisted in his stock market investments.
"I think it's in the nature of long-term shareholding that the normal vicissitudes in markets means that the long-term holder has the quoted value of his stocks go down by, say, 50%," Munger <a href="https://www.youtube.com/watch?v=3XlBrohrIUc">told </a>BBC in an interview. 
"If you're not willing to keep your chin up during the occasional rout, you're not fit to be a common shareholder, and you deserve the mediocre result you're going to get compared to the people who can be more philosophical about these market fluctuations," he added. 
Also Read: <a href="https://www.benzinga.com/news/25/02/43581818/charlie-mungers-four-life-lessons-consume-less-than-you-accumulate-invest-judiciously-persistently-learn-and-uphold-discipline">Charlie Munger&#8217;s Four Life Lessons: &#8216;Consume Less Than You Accumulate, Invest Judiciously, Persistently Learn, and Uphold Discipline&#8217;</a>
Both Munger and Buffett adhered to Buffett&#8217;s renowned mantra:&nbsp;&#8220;Be fearful when others are&nbsp;greedy, and be greedy when&nbsp;others are fearful.&#8221; 
This strategy guided them to consistently acquire undervalued stocks, trusting in the eventual success of American businesses.
Furthermore, Munger counseled investors to exploit opportunities to purchase assets at substantial markdowns during major market slumps, instead of holding out for better conditions.
Why It Matters:&nbsp;Munger&#8217;s advice comes at a time when market volatility is a significant concern for many investors. His words serve as a reminder that patience and long-term vision are key to navigating turbulent markets. 
His strategy of capitalizing on market downturns by purchasing undervalued stocks has proven successful in the past, and may serve as a useful guide for investors in the current climate. 
His belief in the eventual success of American businesses also offers a positive outlook for investors worried about the future of the U.S. economy.
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Image Via Shutterstock

Charlie Munger's Timeless Advice For Navigating Volatile Markets: 'Be Fearful When Others Are Greedy, And Be Greedy When Others Are Fearful'

Mira Murati, the former chief technology officer of <a href="https://www.benzinga.com/news/25/05/45185633/ups-explores-humanoid-robots-as-figure-ai-secures-675m-from-jeff-bezos-openai-and-intel-targeting-9b-revenue-by-2029">OpenAI</a> and a central figure behind ChatGPT, is launching her own <a href="https://www.benzinga.com/25/03/44184371/google-co-founder-larry-pages-ai-startup-could-change-product-manufacturing-forever-report">AI startup</a>, and she&#8217;s doing it in blockbuster fashion.
Thinking Machines Lab, the AI company founded by Murati early this year, is raising a $2 billion seed round at a $10 billion valuation.
According to<a href="https://www.businessinsider.com/mira-murati-is-asking-investors-to-commit-to-at-least-50-million-2025-5"> Business Insider</a>, the round is being led by Andreessen Horowitz, with support from Sequoia Capital and other top-tier investors. Those interested in backing the venture are being asked to commit a minimum of $50 million per check, a staggering requirement for what would be one of the largest seed rounds in startup history.
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<h2 class="wp-block-heading">A High-Stakes Bet On Next-Gen AI</h2>
The startup's ambition is to reshape the way artificial intelligence is built and understood. According to the company&#8217;s<a href="https://thinkingmachines.ai/"> website</a>, Thinking Machines Lab will focus on making AI &#8220;more widely understood, customizable, and generally capable,&#8221; highlighting a shift toward both transparency and user control.
That positioning places the company in direct conceptual competition with AI giants like OpenAI, Google's Gemini, Elon Musk's xAI, and Anthropic, which are all currently racing to define the next generation of large language models and autonomous systems, Business Insider reported.
Murati spent more than six years at OpenAI, contributing to the development of ChatGPT and other advanced AI research projects. According to Business Insider, she was briefly appointed interim CEO in November 2023, after the board unexpectedly removed Sam Altman, a decision that triggered internal upheaval across the company. Following Altman's reinstatement just days later, Murati returned to her position as chief technology officer.
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<h2 class="wp-block-heading">Backed By Industry Legends And Technical All-Stars</h2>
Andreessen Horowitz, the legendary venture capital firm that previously backed Facebook and Airbnb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>),<a href="https://www.ft.com/content/fdef2f53-f8f7-4553-866b-1c9bfdbeea42"> Financial Times</a> reported, is leading the round alongside Sequoia Capital, known for its investments in Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and WhatsApp,<a href="https://fortune.com/2024/07/25/seqouia-capital-roelof-botha-investment-culture-apple-nvidia/"> Fortune</a> says. Their involvement may signal strong institutional belief in Murati's long-term potential.
Thinking Machines Lab is also assembling a brain trust of former OpenAI engineers and scientists. According to<a href="https://thefoundersmagazine.com/thinking-machines-lab/"> The Founders Magazine</a>, team members include Bob McGrew, former head of research at OpenAI, Alec Radford, one of the minds behind the original GPT, Barret Zoph, a top researcher on ChatGPT, and John Schulman, co-lead of the Reinforcement Learning from Human Feedback technique that powers modern AI safety.
See Also: Shark Tank's Kevin O'Leary called Missing Ring his biggest mistake — Don't repeat history—<a href="https://www.benzinga.com/money/big-tech-has-spent-billions-acquiring-ai-smart-home-startups-one-company-stands-to-benefit-and-has-already-made-10-million">invest in RYSE at just $1.90/share.</a>
<h2 class="wp-block-heading">A $50M Entry Ticket To The Future Of AI</h2>
Few early-stage startups command minimum investments in the tens of millions. According to Business Insider, Murati&#8217;s $50 million threshold is a practical necessity since training large models and building scalable infrastructure requires capital on a massive scale.
If the raise closes as expected, Thinking Machines Lab will stand beside OpenAI and Anthropic as one of the most well-capitalized AI startups in the world, Business Insider says, and one of the only ones led by a woman.
With technical vision, elite backing, and a mission to open up the black box of AI, Murati's next chapter may reshape the way the world builds and interacts with intelligent systems.
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ABNB

NVDA

Former OpenAI CTO Mira Murati's $2B AI Startup Thinking Machines Lab Sets $50M Investment Minimum, Backed By Andreessen Horowitz And Sequoia Capital

In a recent cybersecurity incident, a significant&nbsp;data breach at a human&nbsp;resources firm has exposed the personal information of hundreds of thousands of Americans, increasing their vulnerability to identity theft and fraud.
What Happened: Maryland-based firm&nbsp;Kelly Benefits&nbsp;revealed a major data breach impacting 413,032 individuals in a&nbsp;filing with the Office of&nbsp;the Maine Attorney General. The company&#8217;s internal probe discovered that an unauthorized party had gained access to its database, pilfering customer information such as names, birth dates,&nbsp;Social Security numbers, tax ID&nbsp;numbers, and financial account data.
According to the <a href="https://www.maine.gov/agviewer/content/ag/985235c7-cb95-4be2-8792-a1252b4f8318/7a0c076f-6530-433d-b017-bb849c81b4b8.html">report</a>, the breach took place from December 12 to 17, 2024. After a thorough examination of the compromised files, Kelly Benefits concluded its analysis on March 3, 2025. The company provides a variety of HR&nbsp;services, including benefits administration, payroll&nbsp;solutions, and retirement planning.
Also Read: <a href="https://www.benzinga.com/news/24/12/42716153/massive-data-breach-exposes-millions-of-credit-and-debit-cards-is-your-account-safe">Massive Data Breach Exposes Millions of Credit and Debit Cards—Is Your Account Safe?</a>
Kelly Benefits has alerted the affected individuals and is providing&nbsp;12-month credit monitoring and identity&nbsp;theft protection services. Despite reporting the incident&nbsp;to federal law enforcement and&nbsp;regulatory agencies, the company states that it has found &#8220;no evidence of misuse of&nbsp;any information related to this&nbsp;incident&#8221; to date.
Why It Matters: This incident underscores the growing threat of cyber attacks and data breaches to businesses and their customers. Companies like Kelly Benefits hold sensitive information, making them prime targets for cybercriminals. 
While the firm has taken steps to mitigate the impact of the breach, the incident serves as a stark reminder of the importance of robust cybersecurity measures. It also highlights the need for swift action and transparency in the event of a breach to protect affected individuals and maintain trust.
As cyber threats continue to evolve, businesses must stay vigilant and invest in advanced security measures to safeguard their data and protect their customers.
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Image: Shutterstock/TippaPatt

Major Data Breach Exposes Social Security Numbers, Financial Records and Much More

Donald Trump is heading to Saudi Arabia this week, sparking fresh speculation over a potential civil nuclear agreement <a target="_blank" href="https://www.benzinga.com/news/25/04/44758747/iran-signals-openness-to-nuclear-talks-with-us-warns-against-trumps-aggressive-theatrics" rel="noreferrer noopener">between Washington and Riyadh.</a>
The kingdom has long expressed interest in developing its own nuclear energy capabilities, and the U.S. administration appears eager to engage in such a venture, the Associated Press <a target="_blank" href="https://apnews.com/article/civilian-nuclear-program-saudi-arabia-trump-iran-be8697a1890d0158cef57babb47e7583" rel="noreferrer noopener">reports</a>.
Energy Secretary Chris Wright recently traveled to Saudi Arabia ahead of the president's visit and signaled that discussions were progressing.
He suggested that significant advancements in nuclear collaboration between the two nations could be expected in the near future.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/25/04/44758747/iran-signals-openness-to-nuclear-talks-with-us-warns-against-trumps-aggressive-theatrics" rel="noreferrer noopener">Iran Signals Openness To Nuclear Talks With US, Warns Against Trump&#8217;s &#8216;Aggressive Theatrics&#8217;</a>
The potential deal holds strategic importance for both countries.
For the U.S., it offers a chance to edge out Chinese and Russian influence in the Gulf's burgeoning energy sector.
For Saudi Arabia, it's about reducing domestic oil consumption by turning to nuclear power for civilian energy use and tapping into its own uranium reserves, Associated Press adds.
However, the prospect of allowing Saudi Arabia to enrich uranium domestically has raised alarm among nonproliferation advocates.
While such enrichment is necessary for nuclear energy, it also carries the risk of being repurposed for weapons development, a move that could destabilize regional security dynamics.
The U.S. has historically avoided transferring enrichment capabilities to non-nuclear-weapon states.
Under the previous administration, nuclear cooperation was part of a larger negotiation package that included arms sales and normalization of Saudi-Israeli ties, Associated Press notes.
While the Trump administration has decoupled these elements to some extent, experts believe the nuclear issue could still be used as leverage in pushing forward regional diplomatic goals, particularly within the framework of the Abraham Accords.
Despite current diplomatic overtures toward Iran, Crown Prince Mohammed bin Salman has previously stated that if Tehran were to acquire nuclear arms, Saudi Arabia would likely pursue the same path.
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The inflation crisis that has been hammering the U.S. economy is now taking a visible toll on consumers. Last month, <a href="https://www.conference-board.org/topics/consumer-confidence">data</a> showed that consumer confidence in the U.S. fell to a five-year low. The country's economy shrank in the first quarter for the first time since 2022.&nbsp;
The current earnings season is highlighting the struggles of companies exposed to consumer spending. Fast-food giant McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) March quarter earnings and revenue missed Wall Street's estimates, while the company saw a 3.6% drop in same-store sales in the U.S., the biggest <a href="https://www.wsj.com/business/hospitality/mcdonalds-mcd-q1-earnings-report-2025-76b4d394-9b782952">decline</a> since 2020.
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McDonald's CEO Chris Kempczinski was frank in pointing out the plight of consumers impacting the company during its <a href="https://seekingalpha.com/article/4780500-mcdonalds-corporation-mcd-q1-2025-earnings-call-transcript">earnings call</a> with analysts. The executive said that quick-service restaurant industry traffic from the low-income consumers plunged by double digits compared with the previous quarter. Middle-income consumers, who had been holding up relatively well until a few months ago, also saw similar declines, which indicates that economic pressure on traffic has "broadened," according to Kempczinski.
<h2 class="wp-block-heading">‘Heightened Anxiety'</h2>
However, as the average American's wallet feels the squeeze, fast-food spending from rich customers remains resilient.
"Traffic growth from the high-income cohort remains solid, illustrating the divided U.S. economy, where low and middle-income consumers in particular are being weighed down by the cumulative impact of inflation, and heightened anxiety about the economic outlook," Kempczinski said.
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<h2 class="wp-block-heading">Traffic Weak Despite $5 Value Meals&nbsp;</h2>
McDonald's saw consumer weakness despite <a href="https://corporate.mcdonalds.com/corpmcd/our-stories/article/mcdonalds-launching-mcvalue-platform-inus-restaurants-in2025.html">launching</a> new $5 value meals earlier this year across its U.S. restaurants to woo customers.&nbsp; Kempczinski said in the latest earnings call that the company knows affordability and value are "paramount" in the current environment, and it has launched cheaper meals across five major international markets.
<h2 class="wp-block-heading">Consumer Woes Across International Markets</h2>
The economic struggles of consumers aren't just limited to the U.S. Kempczinski said during the call that the company is seeing a "similar story" in international markets, where comparable sales declined 1% from last year. Traffic was positive in just two of the five major markets.
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McDonald's total <a href="https://corporate.mcdonalds.com/content/dam/sites/corp/nfl/pdf/Q1_25_Earnings_Release.pdf">revenue</a> fell 3% year over year in the first quarter. The company also saw comparable sales declines in the UK, while the Middle East and Japan posted gains.&nbsp;
"We&#8217;ll remain agile to ensure McValue continues to meet consumer needs and positions us for success in a challenging marketplace," Kempczinski added. "For the remainder of 2025, we&#8217;ll continue to include everyday value meal deals starting at $5, given how the current $5 Meal Deal in particular has resonated with customers."
McDonald's rivals are also beginning to see the impact of contractions in consumer spending. Yum! Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), the owner of Pizza Hut, Taco Bell and KFC, recently <a href="https://www.cnbc.com/2025/04/30/yum-brands-yum-q1-2025-earnings.html">missed</a> Q1 revenue expectations as Pizza Hut's same-store sales slid 5% in the U.S.
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'A Divided Economy': McDonald's CEO Says Rich Keep Dining Out But Average Income Consumers Feeling Economic 'Anxiety'

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Crinetics Pharmaceuticals to Report Fourth Quarter and Full Year 2024 Financial Results on February 27, 2025

Crinetics Pharmaceuticals Announces February 2025 Inducement Grants Under  Nasdaq Listing Rule 5635(c)(4)

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Crinetics Pharmaceuticals Appoints Tobin Schilke as Chief Financial Officer

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Crinetics Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update

Crinetics Pharmaceuticals Announces March 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Crinetics Pharmaceuticals Announces European Medicines Agency (EMA) Validation of Marketing Authorization Application (MAA) and Orphan Drug Designation (ODD) for Paltusotine in Acromegaly

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