NYLI MacKay California Muni Intermediate ETF (ARCA: MMCA)

Ultime notizie per NYLI MacKay California Muni Intermediate ETF (ARCA:MMCA)

The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in municipal bonds, whose interest is, in the opinion of bond counsel for the issuers at the time of issuance, exempt from federal and California income taxes.

Dreyfus Tax Exempt Cash Management

IQ MacKay California Municipal Intermediate ETF

Cryptocurrency veteran Samson Mow reiterated his belief in Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) potential to hit $1 million per coin Sunday, as the leading cryptocurrency continued to break records.
What Happened: Mow, CEO of Bitcoin technology company JAN3, wrote on X, &#8220;I know Bitcoin is going&nbsp;to add a zero. You&nbsp;know Bitcoin is going to&nbsp;add a zero. It&#8217;s just a question of when.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I know Bitcoin is going to add a zero. You know Bitcoin is going to add a zero. It&#39;s just a question of when.
&mdash; Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1944335701169897554?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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A vocal advocate of the $2.3 trillion asset, Mow also hinted at an accelerating &#8220;race&#8221; among investors to accumulate BTC, while some, such as Peter Schiff, insist on &#8220;hopping backwards.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">99% of the world doesn't yet realize we're all in the race of our lives to accumulate <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>.
&mdash; Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1944477406582264100?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46373699/bitcoins-all-time-high-break-means-volatility-could-soon-return-report">Bitcoin&#8217;s All-Time High Break Means Volatility Could Soon Return: Report</a>
Why It Matters: This isn&#8217;t the first time Mow has made such a bold prediction. Earlier in March, he projected that Bitcoin would<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37698435/will-bitcoin-reach-1m-crypto-veteran-samson-mow-predicts-very-soon"> hit the $1 million mark &#8220;very soon.&#8221;</a> His forecast was based on a combination of high demand and an impending reduction in Bitcoin's supply.
Bitcoin is in the <a href="https://www.benzinga.com/crypto/25/07/46384719/bitcoin-crosses-119000-as-crypto-investors-shrug-off-trump-tariffs-on-mexico-eu-ethereum-dogecoin-spike-analyst-says-eths-pump-just-the-start">middle of a record-breaking rally</a>, surging about 10% over the last week, thanks to a combination of massive institutional inflows and <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46242838/anthony-scaramucci-predicts-bitcoin-treasury-frenzy-will-fade">adoption by Bitcoin treasury companies</a>.
However, Schiff, a renowned economist who advocates for precious metals such as gold and silver, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46353081/bitcoin-can-easily-crash-buy-silver-instead-peter-schiff-says-silver-should-rise-much-more-downside-seems-limited">tried to downplay its advances</a>, stating that the current momentum is speculative and unsustainable.
Price Action:  At the time of writing, Bitcoin was exchanging hands at $119,828.07, up 1.96% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Rido on Shutterstock.com Read Next: 
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46383287/new-survey-reveals-what-wealthy-investors-really-think-about-crypto">New Survey Reveals What Wealthy Investors Really Think About Crypto</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Samson Mow Confident Bitcoin Is Going To Add A Zero: The Million Dollar Question Is Of 'When'

Y Combinator co-founder Paul Graham once said that aspiring entrepreneurs should ditch grand "visionary" road maps and instead launch something small that works, then follow its momentum westward like &#8220;Columbus."
What Happened: Graham, back in 2012, told attendees at Pycon during a keynote that, "Empirically, the way to do really big things seems to be to start with small things and grow them bigger," citing Microsoft&#8216;s first BASIC interpreter and Facebook's <a href="https://www.benzinga.com/news/24/05/38860816/mark-zuckerberg-recalls-his-childhood-and-facebooks-early-days-shares-top-8-memories-on-his-40th-bir">dorm-room photo</a> site as examples.
He added, "Neither Bill Gates nor Mark Zuckerberg knew how big their companies would get. All they knew was that they were onto something."
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Lofty business plans, he warned, force founders to project too far into an uncertain future. &#8220;Maybe it's a bad idea to have really big ambitions initially, because the bigger your ambitions, the longer they're going to take to realize and the long you're projecting into the future, the more likely you're going to be wrong,&#8221; Graham said.
See also: <a href="https://www.benzinga.com/news/topics/25/07/46347662/kevin-oleary-says-trump-and-elon-have-to-get-back-together-again-praises-trumps-big-beautiful-bill">Kevin O&#8217;Leary Says &#8216;Trump And Elon Have To Get Back Together Again,&#8217; Praises Trump&#8217;s Big Beautiful Bill</a>
Instead, he advises starting with "something that works, that you know works, that's small" and then moving when opportunity appears. "The popular image of a visionary is someone with a very precise view of the future, but empirically it's probably better to have a blurry one," he said.
Why It Matters: Graham's philosophy aligns with his essays like "Startup = Growth," where he <a href="https://www.paulgraham.com/growth.html">argues</a> that rapid iteration, rather than elaborate forecasts, defines successful startups.
Amazon.com founder Jeff Bezos once said publicly that the <a href="https://www.benzinga.com/news/25/05/45184305/jeff-bezos-says-the-hardest-thing-was-landing-amazons-first-million-says-he-warned-potential-backers">toughest test of his career</a> was scraping together Amazon&#8217;s first million dollars. This ties back to Graham&#8217;s philosophy of setting smaller, achievable targets since they&#8217;re likely to feel the toughest to get to.
Critics say his advice counters Silicon Valley's blitz-scale ethos, but Graham maintains incremental growth uncovers real markets and avoids over-promising.
Photo Courtesy: Cagkan Sayin on Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/education/25/07/46356805/nancy-pelosis-nvidia-stake-heres-how-much-former-speaker-is-up-on-options-bought-in-2023">Nancy Pelosi&#8217;s Nvidia Stake: Here&#8217;s How Much Former Speaker Is Up On Options Bought In 2023</a>

Startups

AMZN

MSFT

Paul Graham Once Said Its A 'Bad Idea' To Have Lofty Ambitions Early, 'Neither Bill Gates Nor Mark Zuckerberg Knew How Big Their Companies Would Get'

Economist Justin Wolfers is once again attacking President Donald Trump, this time over the latter&#8217;s 50% tariffs on imports from Brazil.
What Happened: On Sunday, in a post on X, Wolfers questioned the rationale behind the latest U.S. tariffs imposed on the South American nation, calling it an ideologically driven move that will hurt American consumers without improving domestic supply chains.
&#8220;We now have a 50% tariff on Brazil, because it puts in jail its insurrectionists,&#8221; Wolfers says, referring to <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">Trump&#8217;s letter</a> to Brazilian President Luiz Inácio Lula da Silva last week, in which he cited the trial of former President&nbsp;Jair Bolsonaro as one of the reasons behind the tariffs. 
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46313013/trumps-tariff-letters-spark-high-level-of-uncertainity-and-volatility-says-economist-mohamed-el-erian">Trump&#8217;s Tariff Letters Spark &#8216;High Level Of Uncertainity And Volatility,&#8217; Says Economist Mohamed El-Erian</a>
In the post that includes a video snippet of his recent appearance on MSNBC&#8217;s Velshi, Wolfers criticized the logic of applying tariffs to commodities like copper and coffee, pointing out that they don&#8217;t lead to increased domestic supply, and as a result, are &#8220;literally a tax on Americans.&#8221;
&#8220;We can't import the mines from other countries,&#8221; he said. &#8220;We can't bring the coffee industry back to the United States — nowhere near enough.&#8221;
According to Wolfers, this is less about trade policy and more about sending a political message. &#8220;All of this is literally attacks on Americans in order to add a show of political support to a foreign insurrectionist,&#8221; he says.
&#8220;Your next coffee now comes with an insurrection infusion fee,&#8221; Wolfers says, pointing to the 50% import tariffs that American consumers will now have to bear, which he says will be in support of those who put &#8220;coup&#8221; in &#8220;coup-pucino,&#8221; a sly reference to Bolsonaro&#8217;s supporters who <a href="https://www.benzinga.com/news/23/01/30324574/protestors-storm-brazils-government-buildings-president-da-silva-calls-them-fanatic-fascists">stormed Brazil&#8217;s Presidential Palace</a> in 2023. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;We now have a 50% tariff on Brazil, because it puts in jail its insurrectionists. And so that means for those of us who drink Brazilian coffee: Your next coffee comes with an insurrection infusion fee, as we try to support those who put the coup in coup-pucino.&quot; <a href="https://t.co/3s4AbW6rTC">pic.twitter.com/3s4AbW6rTC</a>
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1944492763422118187?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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Why It Matters: Economists were bewildered by Trump&#8217;s decision to impose a 50% tariff on Brazil last week, saying that it <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46365075/trump-slaps-brazil-with-50-tariff-in-bolsonaro-spat-economists-say-it-sets-a-scary-precedent-as-trade-surplus-ignored">sets a troubling precedent</a>, given the United States&#8217; trade surplus with the nation.
Da Silva <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">hit back against</a> Trump&#8217;s letter and the accompanying tariffs, saying that his country &#8220;will not accept any form of tutelage,&#8221; while defending the legal proceedings against Bolsonaro as a matter of judicial sovereignty. He also pointed out Brazil&#8217;s $410 billion trade deficit with the U.S. over the past 15 years.
Late last week, Da Silva once again <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46359200/brazil-hits-back-at-trumps-tariff-letter-lula-says-if-hes-going-to-charge-us-50-wee-going-to-charge-him-50">reaffirmed his stance</a> on the matter, saying that Brazil would take the necessary measures to &#8220;protect its people and its companies.&#8221;
He also stated that there would be no negotiations and that &#8220;the law of reciprocity will be put into practice.&#8221; Therefore, if the nation is charged 50% tariffs on exports to the U.S., it would in turn impose 50% tariffs on American imports. 
&#8220;If he's [Trump] going to charge us 50, we're going to charge him 50,&#8221; Da Silva said on his official X account on Friday.
Photo Courtesy: Venus Kaewyoo on Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46267477/trump-threatens-10-additional-tariff-on-all-brics-aligned-nations-says-tariff-letters-drop-at-noon-monday">Trump Threatens 10% &#8216;Additional&#8217; Tariff On All BRICS-Aligned Nations, Says Tariff Letters Drop At Noon Monday</a></li>
</ul>

Government

News

Global

Markets

Trump's Brazil Tariffs Imposed Because They Jail 'Insurrectionists,' Says Economist: 'Your Next Coffee Comes With An Insurrection Infusion Fee'

Leading cryptocurrencies rose on Sunday, while stock futures slipped as President Donald Trump slapped new tariffs on Mexico and the European Union.
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<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:15 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.70%</td>
<td>$119,410.06</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.34%</td>
<td>$2,985.93</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.37%</td>
<td>$0.1985</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin hit a new high above $119,000, extending its record-breaking run that began earlier this week. The trading volume increased 10.29% to $51 billion in the last 24 hours.
Ethereum topped $3,000 in the morning before retreating to the $2,900 area by evening. The second-largest cryptocurrency was on track to finish the week strong, with gains of more than 16% as of this writing.
Over $247 million was liquidated from the market in the last 24 hours, with $142 million of it coming from bearish shorts.
Bitcoin's open interest spiked 3.58% in the last 24 hours and 15% over the last week, suggesting an influx of fresh money into the derivatives market. Traders on Binance with open BTC positions, however, continued to be short.
The market remained greedy, according to the Crypto Fear &amp; Greed Index, signaling substantial buying pressure.
Top Gainers (24 Hours)
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<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:15 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Stellar (XLM)</td>
<td>+27.13%</td>
<td>$0.5043</td>
</tr>
<tr>
<td>Hedera (HBAR)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+27.10%</td>
<td>$0.252</td>
</tr>
<tr>
<td>Algorand (ALGO)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+23.61%</td>
<td>$0.2703 </td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.72 trillion, following a 1.64% jump in the last 24 hours.
Stock futures fell overnight Sunday. The Dow Jones Industrial Average Futures slid 173 points, or 0.39%, as of 8:36 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.40%, while Nasdaq 100 Futures declined 0.40%.
The sell-offs followed Trump&#8217;s <a href="https://www.benzinga.com/markets/equities/25/07/46382047/trump-targets-mexico-eu-with-30-tariffs">announcement of 30% tariffs</a> on imports from Mexico and the EU. Earlier in the week, Trump also threatened to <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">impose 50% tariffs</a> on Brazilian goods.
This week, investors will shift focus to the Consumer Price Index report, slated for Tuesday, to gauge the economic impact of Trump's sweeping tariffs on key trading partners.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Citing the MVRV pricing bands, widely followed cryptocurrency analyst and trader Ali Martinez said Bitcoin could go as high as $127,000.
The Market Value to Realized Value bands are used to identify potential overbought and oversold conditions in Bitcoin&#8217;s market.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could climb to $127,000, according to the MVRV Pricing Bands! <a href="https://t.co/LjdwIYyfbK">pic.twitter.com/LjdwIYyfbK</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1944489508344300017?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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Investor and entrepreneur Ted Pillows stated Ethereum's pump this week "was just the start."
"The major rally will start once it breaks above $4,000. It&#8217;ll be equivalent to BTC breaking above $20,000 in 2020," Pillows remarked.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>&#39;s pump this week was just the start. The major rally will start once it breaks above $4,000. It&#39;ll be equivalent to <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> breaking above $20,000 in 2020. We all know what happened after that. <a href="https://t.co/BZ0HOdrtJZ">pic.twitter.com/BZ0HOdrtJZ</a>
&mdash; Ted (@TedPillows) <a href="https://twitter.com/TedPillows/status/1944469653033455916?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: sundaemorning on Shutterstock.com
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46381621/elizabeth-warren-once-warned-that-dogecoin-is-for-speculators-and-fly-by-night-investors-today-asset-managers-are-racing-to-bring-doge-etfs-to-wall-street">Elizabeth Warren Once Warned that Dogecoin Is for &#8216;Speculators And Fly-By-Night Investors&#8217; — Today, Asset Managers Are Racing To Bring DOGE ETFs To Wall Street</a></li>
</ul>

$DOGE

$ETH

Bitcoin Crosses $119,000 As Crypto Investors Shrug Off Trump Tariffs On Mexico, EU — Ethereum, Dogecoin Spike: Analyst Says ETH's Pump 'Just The Start'

On Sunday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk criticized Donald Trump's social media post on Jeffrey Epstein <a href="https://www.benzinga.com/news/politics/25/07/46264647/elon-musk-renews-demand-for-jeffrey-epstein-files-release-weeks-after-alleging-trump-is-named-in-them">files </a>in which the president backed his Attorney General Pam Bondi amid growing backlash over a Department of Justice memo.
What Happened: Taking to X, formerly Twitter, Musk responded to Trump's defense of Bondi, who is under fire from some in the MAGA base over the memo stating <a href="https://www.benzinga.com/news/politics/25/07/46383724/trump-stands-by-attorney-general-amid-jeffrey-epstein-controversy-let-pam-bondi-do-her-job-shes-great">there is no evidence</a> Epstein had a "client list" or was murdered.
Trump had taken to Truth Social to support Bondi, writing, "What's going on with my ‘boys' and, in some cases, ‘gals?' They're all going after Attorney General Pam Bondi, who is doing a FANTASTIC JOB!"
He added, "We're on one Team, MAGA&#8230; ‘selfish people' are trying to hurt it, all over a guy who never dies, Jeffrey Epstein."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13214830/Screenshot-2025-07-14-at-7.18.21%E2%80%AFAM-528x1024.png" alt="" class="wp-image-983122" /><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>
See Also: <a href="https://www.benzinga.com/markets/asia/25/07/46360439/elon-musk-led-teslas-india-entry-kicks-off-with-first-showroom-in-mumbai-launch-set-for-july-15">Elon Musk-led Tesla&#8217;s India Entry Kicks Off With First Showroom In Mumbai: Launch Set For July 15</a>
Musk responded to his post on X, saying, "Seriously. He said ‘Epstein' half a dozen times while telling everyone to stop talking about Epstein. Just release the files as promised."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13214340/Screenshot-2025-07-14-at-7.13.36%E2%80%AFAM-1024x399.png" alt="" class="wp-image-983116" /><figcaption class="wp-element-caption">Source: X</figcaption></figure>
Why It's Important: The DOJ memo, released last week, concluded there was no foul play in Epstein's 2019 death and denied the existence of a "client list," angering many Trump supporters who had expected further revelations.
Deputy FBI Director Dan Bongino was considering resigning due to a significant dispute between the FBI and the Department of Justice following the release of the memo, <a href="https://edition.cnn.com/2025/07/11/politics/bongino-consider-resigning-epstein-files">reported</a> CNN on Friday.
Musk and Trump are currently at odds after the Tesla CEO criticized the President&#8217;s "Big, Beautiful Bill" for increasing debt. In response, Trump threatened to cut subsidies to Musk's companies. Musk, <a href="https://www.benzinga.com/news/topics/25/07/46347662/kevin-oleary-says-trump-and-elon-have-to-get-back-together-again-praises-trumps-big-beautiful-bill">once a supporter</a>, has since broken with Trump and announced the creation of the <a href="https://www.benzinga.com/news/politics/25/07/46294492/trump-warned-us-system-is-not-designed-for-third-parties-now-experts-doubt-elon-musks-america-party-will-even-be-ready-by-2026-midterms">"America Party" to represent</a> moderate voters.
Price Action: Over the past five days, TSLA shares have risen by 7.66%, but they're down 3.63% over the last month, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings show that TSLA has a short-term downward trend, while its medium and long-term trends remain positive. The stock maintains a strong growth score, though its value rating is comparatively weaker. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance insights are available here</a>.
Photo Courtesy: RKY Photo on Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Tech

TSLA

Elon Musk Says Trump Wants Everyone To 'Stop Talking' About Epstein, Reiterates Demand That President 'Just Release The Files'

Imagine waking up one morning, your bank account drained, your house gone, your credit cards canceled — and all you've got left is a pair of shoes and a half-charged phone. Most people would panic. Mark Cuban would go pour drinks and close deals.
"I would get a job as a bartender at night and a sales job during the day, and I would start working," Cuban said in a <a href="https://www.npr.org/2016/12/05/503982480/serial-entrepreneur-mark-cuban">2016 episode of the "How I Built This" podcast</a>.
No private equity contacts. No startup fund. Just grit and tips.
The billionaire entrepreneur — who built Broadcast.com and sold it to Yahoo for $5.7 billion — says if he lost everything overnight, he wouldn't try to fake it till he made it. He'd get to work. Two jobs, one mission: stack cash and start over.
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Could he become a billionaire again? Probably not, even he admits that. "To be a billionaire, <a href="https://www.benzinga.com/personal-finance/25/04/44657251/mark-cuban-said-billionaires-who-claim-they-could-do-it-all-again-are-lying-their-a-off-youve-got-to-have-luck-and-timing-to-get-rich">you have got to get lucky</a>," Cuban said. But could he claw his way back into millionaire territory?
"Could I become a multimillionaire again? I have no doubt."
And he means it. Cuban's not one of those billionaires who grew up with a trust fund and a country club membership. He grew up in Pittsburgh. His dad never made more than $40,000. When Cuban <a href="https://www.benzinga.com/news/topics/25/06/46042314/when-mark-cuban-hit-100000-he-told-his-dad-whod-never-earned-even-half-that-he-just-started-crying">earned his first $100K, his father cried</a>.
Before the money came, he was living in a rundown apartment with five guys, sleeping on the floor, eating mac and cheese, and driving a <a href="https://www.benzinga.com/personal-finance/24/08/40442345/mark-cuban-says-he-drove-cars-that-cost-200-with-holes-in-the-floorboard-and-lived-off-mac-and-c">car with holes in the floorboards</a>. He's not just guessing what it's like to be poor. He's been there.
But he also knows how to sell.
As a teen, he sold garbage bags door-to-door. Later, he sold software. "I was the best," he said. "I crushed it."
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That's why if he ever had to start from zero again, sales would be his first stop. "Knowing what my sales skills are and the products that I am able to sell, I think I could find a job selling a product that had enough commissions or rewards for me," he said.
Add bartending to the mix, and he's got income coming in around the clock. Bartenders in the U.S. can make anywhere from $30,000 to $80,000 a year depending on tips and location — and that's before you tack on commission-heavy sales income. It's not glamorous, but it's fuel.
Once he'd saved enough, Cuban said he'd launch a business again. Same formula, different starting point.
The plan isn't flashy — and that's the point. Cuban doesn't believe in shortcuts. He believes in hustle. He believes in stacking wins. And he believes that going from broke to seven figures isn't magic — it's execution.
So yeah, if <a href="https://www.benzinga.com/news/25/07/46288396/mark-cuban-says-his-children-struggle-with-the-downsides-of-his-wealth-not-that-they-want-to-be-poor">he woke up poor tomorrow</a>?
He's not crying about it. He's pouring shots, flipping leads, and building an empire all over again.
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Image: Shutterstock

Personal Finance

Mark Cuban Says If He Suddenly Woke Up Poor Overnight, He'd Hustle as a Bartender and Sales Rep—And Has 'No Doubt' He'd Be Rich Again

President Donald Trump has declared plans to send Patriot air defense missiles to Ukraine as a countermeasure against the ongoing Russian aggression in the region.
What Happened: Trump revealed his intention to supply Ukraine with Patriot missiles on Sunday, as reported by Reuters. This move is in response to Russian President Vladimir Putin&#8217;s ongoing resistance to ceasefire negotiations between Ukraine and Russia.
&#8220;Putin really surprised a lot of people. He talks nice and then bombs everybody in the evening. But there&#8217;s a little bit of a problem there. I don&#8217;t like it,&#8221; said Trump while addressing the matter of the mobile interceptor missile surface-to-air missile system, according to the report.
While the exact number of missiles to be sent remains undisclosed, Trump assured that the European Union would reimburse the United States for the costs. 
Ukrainian President&nbsp;Volodymyr Zelenskiy&nbsp;has been seeking additional defensive capabilities to counter daily&nbsp;missile and drone attacks from&nbsp;Russia. Trump confirmed the decision at Joint Base Andrews, stating, &#8220;We&nbsp;will send them Patriots, which&nbsp;they desperately need.&#8221;
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Trump said, &#8220;We basically are going to send them various pieces of very sophisticated military equipment. They are going to pay us 100% for that, and that&#8217;s the way we want it.&#8221;
Why It Matters: This decision follows a series of events that have escalated tensions between the U.S. and Russia. In May, Trump criticized Putin&#8217;s actions in Ukraine, calling him &#8220;absolutely crazy&#8221; after a <a href="http://mobile interceptor missile surface-to-air missile">major aerial assault</a> by Russia on Ukraine.
In July, Defense Secretary Pete Hegseth paused weapons shipments to Ukraine without informing the White House, <a href="https://www.benzinga.com/news/politics/25/07/46361438/trump-says-i-dont-know-who-paused-ukraine-weapon-shipments-hegseth-did-not-inform-the-white-house-report">causing internal confusion</a> and requiring explanations to Congress and Ukrainian officials.
Shortly after, Trump hinted at a significant announcement regarding the U.S. stance on Russia on Monday, <a href="https://www.benzinga.com/news/politics/25/07/46360686/trump-to-make-a-major-statement-on-russia-on-monday-amid-escalating-ukraine-conflict-im-disappointed">expressing disappointment</a> with Russia&#8217;s actions in Ukraine.
Photo Courtesy: Joshua Sukoff on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Trump Says US Will Supply Ukraine With Patriot Missiles: 'Putin Really Surprised A Lot Of People. He Talks Nice And Bombs Everybody In The Evening'

Labubu, a spiky-eared collectible doll created by Hong Kong artist Kasing Lung, has become one of the hottest toys of 2025. With blind-box pricing ranging from $8.99 to nearly $30, and rare editions reselling for thousands, the trend is being driven not just by kids, but by anxious, value-conscious adults.
<h2 class="wp-block-heading">Toy Boom Signals Bigger Shift In Spending Behavior</h2>
According to Shaun Rein, founder of China Market Research Group, the Labubu craze is part of a larger shift toward <a href="https://www.benzinga.com/markets/large-cap/25/06/46064882/amazons-prime-day-secret-weapon-lipstick-and-luxury">emotional spending</a> in uncertain times. &#8220;Pop Mart has been one of my biggest calls for the last three or four years,&#8221; Rein said in a recent CNBC International <a href="https://www.youtube.com/watch?v=p9vS1KLBLeI">interview</a>. &#8220;Consumers are anxious and really saving their money, except for on items like a Legoland experience or on Pop Mart&#8217;s Labubu. It makes them feel good.&#8221;
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He compared the boom to the well-known &#8220;lipstick effect,&#8221; where consumers spend on small luxuries during economic downturns. &#8220;In the United States, when there&#8217;s a weak economy, look at the lipstick effect. In China, it&#8217;s little toys.&#8221;
Rein noted that Pop Mart toys, including Labubu, have become especially popular among young women. &#8220;When you go into office buildings, a lot of the young women in my company have Pop Mart figurines lined up on their tables,&#8221; he told CNBC International. During the strict COVID testing period in China, he saw purchases of the dolls increase noticeably. It was their way of coping.
<h2 class="wp-block-heading">Pop Mart Could Become The Next Disney</h2>
Rein believes Pop Mart is still in its early stages of growth and may follow in the footsteps of major entertainment brands. &#8220;I think Pop Mart five, 10 years from now could have a theme park or an amusement park,&#8221; he said. &#8220;Fits exactly the Chinese consumer mindset right now—spending to feel better because of the anxiety.&#8221;
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Celebrity endorsements have only added to the craze. Stars like Rihanna, Kim Kardashian and David Beckham have been spotted displaying Labubu dolls, sending resale values skyrocketing. The dolls are frequently sold out online, with some editions starting at $167 and climbing far higher on secondary markets.
<h2 class="wp-block-heading">Starbucks Fumbles While Toys Thrive</h2>
Rein contrasted Pop Mart&#8217;s emotional connection and consistent demand with what he sees as a strategic failure by Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) in China. Starbucks used to be luxury in a cup, he told CNBC. Now their outlets &#8220;are terrible, and 40% of their high-end menu items weren&#8217;t selling.&#8221;
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Rather than improving quality, Rein said Starbucks is trying to compete on price, a strategy he sees as doomed. &#8220;You can&#8217;t compete with Chinese companies on price,&#8221; he said. &#8220;They&#8217;ll go to lower margins. <a href="https://www.benzinga.com/markets/asset-sales/25/07/46315542/starbucks-attracts-10-billion-in-bids-for-china-unit-amid-rising-competition">Starbucks needs to</a> double down on premium in-store experience and better coffee.&#8221;
Labubu's runaway success, then, is more than just a toy story. It's a window into how stressed-out consumers are seeking comfort, identity and joy in small, meaningful purchases.
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Image: Shutterstock

SBUX

Analyst Says Viral Doll Labubu Boom Reflects The 'Lipstick Effect' Among Anxious Spenders

<a href="https://www.benzinga.com/markets/tech/25/06/46159877/steve-jobs-once-spent-two-weeks-choosing-a-washing-machine-for-his-palo-alto-home-and-he-got-more-thrill-out-of-it-than-any-piece-of-high-tech-in-ages">Steve Jobs</a> didn't just miss out on a relationship with his biological father — he unknowingly shook his hand and tipped him generously.
In a twist that sounds almost too ironic to be real, Jobs once ate at a Mediterranean restaurant in Silicon Valley managed by a man from Syria. They exchanged pleasantries, nothing more. The man later described one of his customers — Jobs — as "a great tipper." What he didn't know? That man was his son.
This surreal overlap came to light years later through a recording shared by Jobs's biographer, Walter Isaacson, on a 2011 <a href="https://www.cbsnews.com/news/60-minutes-full-coverage-steve-jobs/">episode of 60 Minutes</a>. According to Isaacson, as <a href="https://archive.nytimes.com/bits.blogs.nytimes.com/2011/10/23/steve-jobss-search-for-his-father/">reported by The New York Times</a>, Jobs had located his birth mother, Joanne Simpson, in the mid-1980s. Through her, he discovered he had a sister, Mona Simpson, a writer living in New York. The two formed a close bond, but Jobs drew a hard line when it came to their biological father, Abdulfattah "John" Jandali.
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"I learned a little bit about him, and I didn't like what I learned," Jobs said in the recording. He was especially upset by Jandali's early abandonment of Mona and their mother.
But Mona, curious to fill in the gaps, eventually found their father. By then, Jandali was managing a restaurant in Sacramento. When she visited, he casually bragged that Jobs used to eat there often and was "a great tipper." He had no idea he was talking about his own son.
Jobs later recalled that encounter: "I remembered being in that restaurant a couple of times. I shook his hand and he shook my hand — and that's all."
They never saw each other again. According to Isaacson, Jandali didn't find out the truth until 2006 — long after the brief restaurant run-in and long after the chance for a real father-son relationship had passed.
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It's the kind of detail that reads like a scene out of a screenplay: two people bound by blood, unknowingly crossing paths, never realizing the connection — one leaving a generous tip, the other left with a story about a polite customer who once ate the hummus.
According to the <a href="http://online.wsj.com/article/SB10001424052970203499704576620911395191694.html">Wall Street Journal</a>, once Jandali realized the truth, he quietly attempted to reach out to Jobs in the final years of his life — mostly through short, polite emails. He reportedly wished Jobs happy birthday and good health. Jobs occasionally responded with brief replies like "Thank you," but kept his distance.&nbsp;
<a href="https://www.dailymail.co.uk/news/article-2047588/Steve-Jobs-dead-Father-Abdulfattah-John-Jandali-son-met.html">The Daily Mail</a> revealed that in the months leading up to Jobs's death, Jandali became overwhelmed with guilt about abandoning his son. But after so many years, he admitted he was too proud to make the first move.
He feared Jobs might think he was only after money — and, as it turns out, his instincts weren't far off. In the biography, Isaacson quoted Jobs as saying he "didn't trust him not to try to blackmail me or go to the press about it."
Although he never picked up the phone, Jandali <a href="https://abcnews.go.com/Technology/steve-jobs-biological-father-regrets-adoption-report/story?id=14381769">said in interviews</a> that he still hoped for a reunion "before it is too late." But ultimately, it never happened.
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Jobs, for his part, made peace with his choice. He told Isaacson that Paul and Clara Jobs — the couple who raised him — were his "real parents 1,000%." And while the missed connection with his biological father makes for a dramatic story, it was one Jobs never felt compelled to rewrite.
He died in 2011 at the age of 56, having briefly crossed paths with the man who gave him life — a stranger at the time, and never more than that. Whatever his reasons, Jobs chose to keep that distance. It was his decision, his boundary, and maybe even his peace.
Although they exchanged only a few words, never <a href="https://www.benzinga.com/personal-finance/management/25/07/46266363/steve-jobs-daughter-says-he-refused-to-give-her-his-old-porsche-when-she-was-9-youre-not-getting-anything-you-understand-nothing">knowing the full story</a>, it's one of those strange twists life offers — two lives colliding without either realizing it. As Jobs <a href="https://youtu.be/UF8uR6Z6KLc?si=kWk7hAFI71wCUUyM">once said</a>, "You can't connect the dots looking forward; you can only connect them looking backward."
And sometimes, you might not even want to.
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Steve Jobs Was Adopted And Unknowingly Dined At His Birth Father's Restaurant — His Dad Remembered Him Only As 'A Great Tipper'

In a 1998 Berkshire Hathaway shareholder meeting, renowned investor,&nbsp;Charlie Munger, unveiled his three-step strategy for wealth accumulation starting from scratch.
What Happened:&nbsp;Munger discussed the challenge of building wealth from ground zero. He underscored that rationality, opportunism, and substantial saving are key to wealth creation.
During the <a href="https://www.youtube.com/watch?v=5Tcqlrz6yKo">meeting</a>, Munger advised saving a substantial part of one&#8217;s income. He illustrated that by saving $2000 a month from a $100,000 salary, one could amass $100,000 in just over three years.
In the second step, Munger advocated for the use of knowledge to profit from side businesses. This includes being vigilant for opportunities to increase earnings, such as starting a side business or capitalizing on rational investment ideas.
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Finally, Munger stressed the significance of investing in personal education and training. This sentiment was echoed by Vaibhav, who highlighted the importance of investing in self-education to reach financial objectives.
Munger also discussed the potency of compound interest, explaining&nbsp;that once you have $100,000&nbsp;invested, your existing cash pile&nbsp;saves much more than you&nbsp;do, and this gap only widens with time.
Why It Matters:&nbsp;Munger&#8217;s advice is not only relevant to individuals starting their wealth-building journey but also serves as a reminder to seasoned investors about the fundamental principles of wealth accumulation. 
His emphasis on saving, leveraging knowledge for profit, and investing in personal education underscores the importance of a disciplined and strategic approach to wealth creation. 
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Success Stories

Charlie Munger's Three-Step Wealth Accumulation Strategy: 'Save Diligently, Seize Opportunities, And Continuously Self-Educate'

Recently surfaced recordings reveal that Jeffrey Epstein claimed to be a close friend of President Donald Trump.
What Happened: These statements, made in 2017, offer insights into Epstein&#8217;s relationship with Trump and his alleged intimate knowledge of Trump&#8217;s sexual behaviors. 
During the conversation with Michael Wolff, Epstein boasted about his close ties with Trump, even claiming that Trump&#8217;s first sexual encounter with his current wife Melania occurred on Epstein&#8217;s aircraft, <a href="https://www.thedailybeast.com/listen-to-the-jeffrey-epstein-tapes-i-was-donald-trumps-closest-friend/">reports </a>The Daily Beast. 
Recorded during the interview, these tapes are expected to reignite discussions about&nbsp;the character of the Republican&nbsp;candidate, especially his attitudes towards women, in the lead-up to the forthcoming election.
The tapes portray a multifaceted image of Trump, with Epstein describing him as &#8220;charming&#8221; and &#8220;fun&#8221;, while also alleging that Trump repeatedly cheated in his marriages. 
Epstein suggested that Trump took pleasure in engaging in sexual activities with the wives of his closest friends. He further insinuated that Trump was essentially a man devoid of friends, incapable of showing kindness.
When asked by Wolff, "How do you know all this?" Epstein responded saying, "I was Donald's closest friend for 10 years."
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Wolff, who was conducting research for his book &#8220;Fire and Fury&#8221; during the time of the interview,&nbsp;shared the tape with the&nbsp;Daily Beast. He claims to have&nbsp;up to 100 hours of&nbsp;recorded interviews with Epstein.
Trump&#8217;s team has dismissed the tapes as &#8220;false smears&#8221;. The tapes also shed light on the relationship between Epstein and Trump, two affluent men who frequently socialized together&nbsp;in New York and Atlantic&nbsp;City.
The tapes provide Epstein&#8217;s viewpoint on their relationship, a relationship that led one man to infamy, prison, and ultimately suicide, and the other to power, the Oval Office,&nbsp;and his own criminal conviction. 
The tapes also contain allegations about Trump&#8217;s behavior towards women, which are likely to draw attention given their long-standing friendship and the numerous accusations of sexual misconduct against the former president.
Last week, the Justice Department announced that it will not release any more documents related to the case of Epstein. Epstein died by suicide in custody in 2019 while awaiting trial on sex trafficking and conspiracy charges.
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Image: Shutterstock/Copyright Lawrey

Jeffrey Epstein in Tapes Released by Michael Wolff: 'I Was Donald's Closest Friend'

Justine Musk, the ex-wife of billionaire tech mogul Elon Musk, shed light on the secret behind his extraordinary success.
What Happened: Justine Musk unveiled the key to the triumph of&nbsp;Elon Musk during her TEDx Talk a few years back. The secret, she divulged, is encapsulated in a single word: &#8220;No.&#8221;
"I was married to a man who became extremely successful. And as I watched him rise I noticed two things. He worked very hard, much harder than your average bear. And he said no, a lot,&#8221; Justine Musk <a href="https://www.youtube.com/watch?v=ptFYmNuRNyQ">said </a>during the talk.
"He said no to people who wanted his time and attention and energy. He said no in a way that protected his resources so he could channel them towards his own goals. And I realized that&nbsp;behind every no there is a deeper yes&nbsp;to whatever it is that you do want," she added. 
Elon Musk has witnessed a meteoric rise to power in recent years, earning the title of the world&#8217;s wealthiest man.
Despite teetering on the brink of bankruptcy on multiple occasions, Musk&#8217;s unwavering determination has been instrumental in his success. 
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Justine Musk, who was wedded to Elon until 2013, pointed out that he frequently said &#8220;no&#8221; to safeguard his resources and direct them towards his own objectives.
"He had grown up in the male-dominated culture of South Africa, and&nbsp;the will to compete and dominate that made him so successful in business&nbsp;did not magically shut off when he came home," Justine Musk further continued. 
While she admired his uncompromising business strategy, she also underscored the difficulties it imposed on their personal relationship. Despite their separation, Justine Musk affirmed she holds no regrets about their marriage.
Elon Musk&#8217;s success story is a testament to the power of focus and determination. His ability to say &#8220;no&#8221; to distractions and channel his resources towards his goals has been a key factor in his rise to the top. 
This revelation provides a fresh perspective on the strategies employed by successful entrepreneurs and could serve as a guide for aspiring business leaders. 
Despite the personal challenges it may bring, such a resolute approach could be the key to achieving extraordinary success in the business world.
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<a href="https://www.benzinga.com/top-stories/22/08/28661279/elon-musks-mother-maye-says-she-sleeps-in-a-garage-when-she-visits-him-1">Elon Musk&#8217;s Mom Says She Sleeps In His &#8216;Garage&#8217; When She Visits The Tesla CEO</a>
Image: Shutterstock/Frederic Legrand &#8211; COMEO

Elon Musk's Ex-Wife Reveals His Success Secret, And It Comes Down to This One Powerful Word

The artificial intelligence startup,&nbsp;xAI, backed by Elon Musk, is facing backlash from its employees over the introduction of a controversial workforce management system.
What Happened: The company has been encouraging its staff to install a software called Hubstaff on their personal laptops. This move has raised significant privacy concerns and has even led to an employee&#8217;s resignation.
Initially, xAI directed its tutors,&nbsp;who train its Grok chatbot, to install the software by July 11, particularly those without a company-issued device. 
As per the report <a href="https://www.businessinsider.com/xai-pressed-workers-install-surveillance-software-personal-laptops-2025-7">by </a>Insider, The mandatory software enabled screen captures, and monitored&nbsp;URL and application visits during&nbsp;work hours. Additionally, Hubstaff has the capability to&nbsp;track mouse movement and keystrokes.
After the outlet&#8217;s inquiries, xAI revised its policy. Employees who requested company laptops could postpone the software installation until they received their company-issued device. 
However, the company has not clarified whether employees who adhered to the initial&nbsp;deadline or purchased a new&nbsp;device can also delay the software installation.
xAI&#8217;s HR team justified the new tool as a means to &#8220;streamline work processes, provide clearer&nbsp;insights into daily tutoring activities,&nbsp;and ensure resources align with&nbsp;Human Data priorities.&#8221; 
Also Read: <a href="https://www.benzinga.com/markets/tech/25/07/46380521/elon-musk-rejects-reports-that-xai-is-looking-to-raise-additional-funds-at-200-billion-valuation-we-have-plenty-of-capital">Elon Musk Rejects Reports That xAI Is Looking To Raise Additional Funds At $200 Billion Valuation: &#8216;We Have Plenty Of Capital&#8217;</a>
Nonetheless, several employees expressed their privacy concerns, with one resigning over the Hubstaff roll-out, describing it as&nbsp;&#8220;surveillance disguised as productivity&#8221; and&nbsp;&#8220;manipulation masked as culture.&#8221;
Employees concerned about data privacy were advised&nbsp;to either purchase a new&nbsp;computer using xAI&#8217;s $50 per&nbsp;month tech stipend or create&nbsp;a separate log-in and profile&nbsp;on their device. The software would not track activity outside of work hours.
Why It Matters: This incident underscores the ongoing debate about employee privacy in the era of remote work. As companies increasingly turn to digital tools to manage their workforce, the balance between productivity and privacy is becoming a contentious issue. 
The situation at xAI serves as a stark reminder of the potential pitfalls of such technologies and the importance of clear communication and transparency in their implementation.
Read Next
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Image: Shutterstock/Kemarrravv13

Elon Musk's xAI Forced Employees To Install Surveillance Software, Here's What Happened Next

So you've finally hit that $3 million mark in retirement savings. Maybe you sold a business, maxed out your 401(k) for decades, or just had a great run in the market. Either way, <a href="https://www.benzinga.com/personal-finance/25/02/43539942/are-you-rich-heres-what-americans-think-you-need-to-be-considered-wealthy-2">you're officially "rich retired."</a> But here's the kicker: you're probably not living like it.
According to the latest <a href="https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/retirement-insights/guide-to-retirement-us.pdf">Guide to Retirement from J.P. Morgan Asset Management</a>, retirees with nest eggs between $1 million and $3 million spend a median of just $63,480 per year — and that's not a typo. These are people sitting on seven figures, and many of them are spending roughly what the average American household does.
Compare that with data from the U.S. Bureau of Labor Statistics, which shows the average retired household spends about $5,000 per month, or $60,000 per year, based on <a href="https://www.bls.gov/opub/reports/consumer-expenditures/2023/">2023 Consumer Expenditure Survey data</a>. The difference? Barely a vacation's worth.
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And if you're thinking, "Well sure, most retirees don't have millions saved," you'd be right. <a href="https://www.empower.com/the-currency/life/average-401k-balance-age">Empower reports</a> that the median 401(k) balance for Americans aged 60–69 is only $210,724. The average? $573,624 — still far from millionaire territory.
So why are millionaire retirees keeping their spending so close to the average? According to J.P. Morgan, it all comes down to where the money is parked — not just how much there is.&nbsp;
Retirees who rely heavily on retirement accounts like 401(k)s or IRAs tend to spend far less than those who have a larger share of guaranteed income — think pensions, annuities, or strong Social Security benefits. In that same $1M–$3M group, retirees with more guaranteed income spent up to $71,110 annually.
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
The difference is even more dramatic for the next wealth tier. Retirees with $3 million to $5 million who had more guaranteed income spent a median of $133,380 per year, compared to just $95,470 for those with less. In other words, even among the rich, confidence in spending is fueled less by account balances and more by predictability.
Even among those with sizable nest eggs, few retirees are drawing down their assets aggressively. According to J.P. Morgan, over a recent four-year period, half of retirees withdrew less than 2% annually from their portfolios — well below the commonly cited 4% rule. Many took only the required minimum distributions, choosing to let the rest sit tight. It's another sign that wealth doesn't always translate into lifestyle upgrades.
You can have all the money in the world, but unless it's flowing in like a paycheck, chances are you're still going to act like you're budgeting. That <a href="https://www.benzinga.com/personal-finance/25/01/42885231/can-you-guess-what-percent-of-people-retire-with-a-3-million-nest-egg-hint-its-an-incredibly-low-number">$3 million nest egg</a> may sound extravagant — but for many retirees, it doesn't feel like a green light to go wild. At least, not until they know the money's coming in no matter what.
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Image: Shutterstock

Can You Guess What A Rich Retiree With $3 Million Spends Per Year? It's A Lot Less Than You'd Expect

Billionaire investor&nbsp;Ray Dalio&nbsp;underscored the significance of diversification in achieving investment success.
Dalio, former CEO of&nbsp;Bridgewater Associates, has shared his investment insights, highlighting diversification. &#8220;Diversifying well is the most important thing you need to do in order to invest well,&#8221; he said in a statement. 
Known for his macroeconomic viewpoint, Dalio has seldom advocated for individual stocks, preferring to concentrate on broader asset classes such as sovereign bonds and commodities.
Under Dalio&#8217;s stewardship, Bridgewater Associates rose to prominence as the world&#8217;s largest hedge fund in 2005. When he resigned as CEO in 2017, the firm&#8217;s portfolio was valued at $160 billion. Dalio&#8217;s investment strategies, including his precise prediction of&nbsp;the 2008 subprime mortgage banking&nbsp;crisis, were largely credited for the firm&#8217;s success.
According to reports, Dalio&#8217;s investment methodology has garnered a significant following, with his quotes often serving as investment guidelines. 
Also Read: <a href="https://www.benzinga.com/news/24/12/42380616/ray-dalio-reveals-his-three-step-strategy-for-success">Ray Dalio Reveals His Three-Step Strategy For Success</a>
His emphasis on diversification is viewed as a crucial risk mitigation tactic, encouraging investors to distribute their investments across a variety of asset classes.
Dalio has also expressed admiration for China&#8217;s economic and technological progress, despite criticism for disregarding the country&#8217;s human rights abuses. 
He has highlighted the need for reform in American capitalism, pointing to unfunded social liabilities and systemic obstacles to upward mobility that intensify&nbsp;income inequality in the US.
Dalio&#8217;s principle of diversification can be applied by individual investors in two ways. The literal approach involves constructing a diversified portfolio with&nbsp;ETFs for precious metals, commodities,&nbsp;sovereign bonds, and similar asset&nbsp;classes. 
The figurative approach involves employing the principle as a standard risk mitigation strategy, diversifying asset classes in a personal portfolio.
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Image: Shutterstock

Ray Dalio Shares Crucial Investment Advice for Those Who Want to Invest Well

In the wake of rumors surrounding Attorney General Pam Bondi&#8216;s possible resignation over the Jeffrey Epstein investigation, President Donald Trump has stepped forward to defend her. This comes shortly&nbsp;after FBI Director Kash Patel&nbsp;dismissed such rumors as <a href="https://www.benzinga.com/news/politics/25/07/46264647/elon-musk-renews-demand-for-jeffrey-epstein-files-release-weeks-after-alleging-trump-is-named-in-them">mere conspiracy theories.</a>
What Happened: President Trump commended Bondi&#8217;s work and encouraged Americans to shift their focus away from Epstein. He expressed his support for Bondi on Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/114842356238631061">post</a>, characterizing her work as &#8220;fantastic.&#8221;
&#8220;What's going on with my "boys" and, in some cases, "gals?" They're all going after Attorney General Pam Bondi, who is doing a FANTASTIC JOB! We're on one Team, MAGA, and I don't like what's happening. LET PAM BONDI DO HER JOB — SHE'S GREAT,&#8221; he wrote in the post. 
Trump&#8217;s comments came in the wake of reports about a tense altercation&nbsp;between FBI Deputy Director Dan&nbsp;Bongino and Bondi at the&nbsp;White House earlier in the week. 
This confrontation transpired following&nbsp;a Justice Department review of&nbsp;Epstein&#8217;s case, which found no significant evidence pertaining to his death or the alleged &#8220;client list.&#8221;
Bongino, who had previously speculated about the Epstein file before his government tenure, was reportedly contemplating resignation&nbsp;after less than four months&nbsp;in office. 
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46382060/ex-trump-lawyer-dershowitz-claims-knowledge-of-epstein-client-list-i-know-the-names-but-im-bound-by-confidentiality">Ex-Trump Lawyer Dershowitz Claims Knowledge of Epstein Client List: &#8216;I Know the Names, But I&#8217;m Bound by Confidentiality&#8217;</a>
Patel refuted these rumors on social media, asserting, &#8220;The conspiracy theories just aren&#8217;t true, never have been.&#8221; He reiterated his commitment to serving under President Trump.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The conspiracy theories just aren't true, never have been. It's an honor to serve the President of the United States <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> — and I'll continue to do so for as long as he calls on me.
&mdash; Kash Patel (@Kash_Patel) <a href="https://twitter.com/Kash_Patel/status/1944101148903760317?ref_src=twsrc%5Etfw">July 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The controversy erupted after the Justice Department concluded a probe into Epstein&#8217;s death and found no incriminating &#8220;client list.&#8221; 
Bondi&#8217;s department issued a memo stating that Epstein&#8217;s death was a suicide, affecting &#8220;over one thousand victims,&#8221; but found no credible evidence supporting claims of Epstein blackmailing high-profile individuals.
Why It Matters: The controversy surrounding the Epstein probe and the alleged resignation rumors highlight the ongoing tension within the Justice Department. 
The public endorsement by President Trump could potentially stabilize the situation, but it also underscores the political implications of the Epstein case. 
The dismissal of conspiracy theories by FBI Director Patel further emphasizes the need for factual discourse in such high-profile cases. 
The outcome of this situation could have significant implications for the Justice Department and its handling of sensitive cases in the future.
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Image: Shutterstock/DT phots1

Trump Stands by Attorney General Amid Jeffrey Epstein Controversy: 'Let Pam Bondi Do Her Job — She's Great'

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is in the midst of a significant management reshuffle. Despite the company&#8217;s biggest crisis in years, CEO&nbsp;Tim Cook&nbsp;remains firmly at the helm.
Bloomberg's&nbsp;Mark Gurman,&nbsp;in his&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2025-07-13/is-apple-going-to-replace-ceo-tim-cook-who-is-the-next-ceo-of-apple-ternus-md1mhrj4?srnd=undefined">latest&nbsp;</a>weekly "Power On&#8221; report revealed that, Jeff Williams, Tim Cook&#8216;s longtime deputy, has announced his retirement plans, leaving no clear successor in place. 
Despite this, there are no signs that Cook is planning to step down or is grooming a replacement. The board, which is largely made up of Cook loyalists, has not felt the need for a change in leadership.
Although Apple&#8217;s shares have fallen 16% this year, they have seen a surge of around 1,500% since Cook assumed the role of CEO in 2011. Despite current challenges, including AI missteps and&nbsp;an aging product lineup, the&nbsp;board continues to view Cook&nbsp;as the only person capable&nbsp;of guiding the company.
There is a growing recognition among Apple&#8217;s top decision-makers that changes are necessary. Services chief Eddy Cue has internally warned&nbsp;that Apple risks becoming the&nbsp;next BlackBerry or Nokia if&nbsp;it doesn&#8217;t adapt quickly.
Also Read: <a href="https://www.benzinga.com/markets/25/06/45852024/apples-liquid-glass-interface-set-to-revolutionize-ios-26-hints-at-20th-anniversary-iphone">Apple&#8217;s Liquid Glass Interface Set To Revolutionize iOS 26, Hints At 20th Anniversary iPhone</a>
Several top executives are nearing retirement age, marking the&nbsp;biggest leadership turnover in decades.&nbsp;Operations executive Sabih Khan will replace Williams, and CFO Luca Maestri handed over his duties to Kevan Parekh earlier this year.
Despite these changes, there is concern about&nbsp;the lack of a quick&nbsp;CEO replacement in case of&nbsp;an emergency. The most plausible successor remains hardware chief Ternus, who&nbsp;is about 15 years younger&nbsp;than Cook and has been with Apple for over 20 years.
The management reshuffle at Apple comes at a critical time for the tech giant. With several top executives nearing retirement, the company is facing its&nbsp;biggest leadership turnover in decades.&nbsp;This could potentially impact Apple&#8217;s strategic direction and its ability to innovate and compete in the rapidly evolving tech industry.
Despite the challenges, the board&#8217;s continued faith in Cook&#8217;s leadership suggests that they believe he is the best person to navigate the company through this period of change. 
However, the lack of a clear successor to Cook raises questions about the company&#8217;s succession planning and its preparedness for any unforeseen circumstances that may require a change in leadership.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/topics/25/06/45712700/apples-ai-struggles-to-keep-pace-with-rivals-ahead-of-wwdc-2025" target="_blank" rel="noreferrer noopener">Apple's AI Struggles To Keep Pace With Rivals Ahead Of WWDC 2025</a>
Image: Shutterstock

AAPL

Apple Undergoing Major Management Overhaul, But CEO Tim Cook To Stay On

Global <a href="https://www.benzinga.com/topic/copper">copper production</a> is projected to grow at an average annual rate of 2.9% over the next decade. The latest forecast from BMI (Fitch Solutions) expects the rise from 23.8 million tons in 2025 to 30.9 million tons by 2034, owing to new projects and expansions across key jurisdictions in South America, Asia, and Africa.
The report, cited <a href="https://www.metal.com/en/newscontent/103424116">by</a> Shanghai Metals Market, shows that global copper output is expected to rise 2.5% in 2025, driven by a recovery in Chile and further ramp-up at Mongolia's Oyu Tolgoi mine.
The 2025 projection has been revised downward slightly due to reduced guidance at the Kamoa-Kakula mine in the DRC, which was affected by seismic activity. BMI noted continued downside risks flagged by miners such as Glencore (OTCPK: GLCNF) and Anglo American (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUKD#OTC">AAUKD</a>), but noted an <a href="https://www.benzinga.com/news/guidance/25/01/42840568/chiles-codelco-targets-turnaround-with-modest-copper-output-increase-and-strategic-lithium-ventures">optimistic outlook</a> from key producers like Chile's Codelco.
Regionally, Chile is forecast to maintain its position as the world's top copper producer, with 2025 output expected to reach 5.7 million tons, accounting for around 25% of global supply. Sustained growth from Teck Resources' (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) Quebrada Blanca project will help offset declines at aging mines from Codelco, which linger despite <a href="https://www.benzinga.com/25/04/44709462/miners-urge-chile-to-cut-bureaucracy-before-country-loses-copper-leadership">multi-billion-dollar capex</a>.
Zambia, while facing structural challenges, is also expected to post steady gains as investor interest grows and reforms take hold. BMI believes that countries across Africa and South America could capture a greater share of global production as Western manufacturers push for diversified and stable supply chains.
Copper is currently in the spotlight owing to President Donald Trump's plan to impose a <a href="https://www.benzinga.com/markets/commodities/25/07/46339702/trumps-copper-tariff-echoes-through-global-mining-tunnels">50% tariff on refined copper</a> beginning August 1. Yet, <a href="https://www.benzinga.com/25/04/44592724/under-the-radar-navigating-the-copper-crunch-amidst-tariff-turbulence">domestic shortages</a> might force the administration to reconsider before higher costs start pushing prices higher. Jefferies analyst Christopher LaFemina <a href="https://www.bloomberg.com/news/articles/2025-07-09/copper-futures-in-london-drop-after-trump-plan-50-import-tariff">warned</a> that "the U.S. does not have nearly enough mine, smelter or refinery capacity to be self-sufficient in copper," adding that tariffs are likely to drive U.S. price premiums higher relative to global markets.
Still, foreign miners see an opportunity in ramping up the US production. Per Bloomberg's <a href="https://www.bloomberg.com/news/articles/2025-07-11/rio-tinto-wants-to-invest-more-in-us-copper-under-trump-tariffs?srnd=phx-markets">report</a>, Rio Tinto's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) copper Chief Executive Katie Jackson said the company sees "significant opportunities to grow our business in the United States" and noted a "strong desire" to invest more in U.S. copper mining.&nbsp;
Industry veteran Robert Friedland backed Trump's tariff plan, calling it "obvious and intelligent" for pushing domestic production.
"There's a new list of critical raw materials and without it, you can't do anything about global warming or greening the world economy, and you have a critical vulnerability in national security," the billionaire founder of Ivanhoe Mines <a href="https://www.ft.com/content/bcd9b72d-4ebb-4d07-b20e-3a2e2c014f41">said</a> to The Financial Times.
Read Next: <a href="https://www.benzinga.com/markets/commodities/25/07/46364954/malawi-lands-12-billion-chinese-deal-to-boost-mining-and-balance-regional-influence">Malawi Lands $12 Billion Chinese Deal To Boost Mining And Balance Regional Influence</a>
Image: Shutterstock/Siwakorn TH

Commodities

AAUKD

GLCNF

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Global Copper Output to Grow 2.9% Annually Through 2034

Pump.fun, a platform that enables users to generate their own speculative tokens, amassed an impressive $600 million within a mere 12 minutes on Saturday.
What Happened: The initial coin offering (ICO) of Pump.fun is among the largest ever, following closely behind Bitcoin&#8217;s recent record-breaking high. 
The platform, which operates on the Solana blockchain, had previously disclosed its intention to sell 150 billion tokens at $0.004 each, after already selling a 180 billion token block to private investors at the same price.
Pump.fun&#8217;s co-founder,&nbsp;Alon Cohen, verified that the public sale garnered $600 million, pushing&nbsp;the total sale to $1.32&nbsp;billion. However, investors from the US and UK were not allowed to participate in the token purchase.
Despite initial concerns that the sale could negatively affect the wider memecoin market,&nbsp;Zaheer Ebtikar, the&nbsp;founder of crypto fund Split&nbsp;Capital, observed a rapid transition from fear to FOMO among investors, <a href="https://www.bloomberg.com/news/articles/2025-07-12/memecoin-platform-pump-fun-raises-600-million-within-12-minutes?srnd=homepage-asia">reports </a>Bloomberg. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935252/shiba-inu-burns-skyrocket-by-300-amid-calls-for-larger-burns-from-shib-army">Shiba Inu Burns Skyrocket by 300% Amid Calls for Larger Burns From SHIB Army</a>
Since its 2024 launch by founders Cohen,&nbsp;Noah Tweedale, and&nbsp;Dylan Kerler, Pump.fun has significantly contributed to&nbsp;the explosive growth in memecoins, generating&nbsp;nearly $800 million in revenue. 
The Pump tokens are anticipated to become tradable 48-to-72 hours post-sale.
Why It Matters: The success of Pump.fun&#8217;s ICO underscores the enduring appeal of memecoins among investors. Despite regulatory concerns and market volatility, the memecoin market continues to grow, driven by platforms like Pump.fun that democratize token creation. 
The exclusion of US and UK investors from the token sale also highlights the ongoing regulatory challenges faced by such platforms, which could shape the future trajectory of the memecoin market.
Read Next
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Image: Shutterstock/Akif CUBUK

This Memecoin Platform Raised $600 Million In Just 12 Minutes

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