Ultime notizie per Zoom Technologies (OTC:ZTNO) Azioni

Zoom Technologies Inc designs, produces, markets, sales and supports broadband and dial-up modems, Voice over Internet Protocol or VoIP products and services, Bluetooth wireless products, and other communication-related products. It is engaged in mobile platform video game development, manufacturing, research and development, and sales of electronic components for third generation mobile phones, wireless communication circuitry, GPS equipment, and related software products.

ZOOM TECHS INC by Zoom Technologies, Inc.

Zoom Technologies Inc

Scott Galloway isn't pulling any punches. In the latest <a href="https://www.youtube.com/watch?v=rntQzCvwwZA">episode</a> of the "Prof G Pod," the NYU professor and entrepreneur said April 9 will go down as "the greatest day of insider trading in history."
At the center of the storm is President Donald Trump's sudden decision to pause tariffs for most countries while simultaneously raising them on China. That announcement sent markets into a tailspin.
Don't Miss:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>Invest in the future of digital engagement: <a href="https://www.benzinga.com/money/vatom-adv">Own a piece of the $100 billion Metaverse for just $500</a>.</li>
</ul>
<h2 class="wp-block-heading">Wild Swings Spark Suspicion</h2>
Galloway&#8217;s co-host cited <a href="https://www.wsj.com/livecoverage/stock-market-trump-tariffs-trade-war-04-09-25">Wall Street Journal</a> reporting that on April 9, the Dow Jones jumped nearly 8%, the S&amp;P 500 rose almost 10%, and the Nasdaq had its best day in 24 years, climbing 12%. The so-called "Magnificent Seven" stocks gained $1.8 trillion in value.&nbsp;
But by April 10 afternoon, the rally fizzled when <a href="https://www.benzinga.com/25/04/44755507/therell-be-a-transition-cost-and-transition-problems-admits-trump-amid-tariff-woes-while-bessent-hints-at-negotiation-deals">Trump raised China's tariff rate to 145%</a>. The Dow dropped 1,000 points, and the S&amp;P and Nasdaq gave back about 4% each.
&#8220;I think we&#8217;re going to find out that April 9th will go down in history as the greatest day of insider trading in history, where people were engaging in market manipulation and insider trading, trading on non-public material information because clearly, word got out,&#8221; he said.&nbsp;
Trending: Maker of a life-changing asthma device with 12,000+ patients waiting, FDA clearance, and a 67% drop in attacks — now <a href="https://www.benzinga.com/money/how-a-10k-bet-on-health-care-originals-could-have-skyrocketed-your-portfolio">taking final investors at just $1.52 per share.</a>
<h2 class="wp-block-heading">Trading on a Wink and a Nod?</h2>
Galloway and co-host Ed Elson said the timing of large options trades points to something more than luck. Someone, they said, made millions by buying zero-day call options on the S&amp;P 500 just hours before Trump announced the tariff pause.
Those trades exploded in value &#8220;by more than 2,000%.&#8221; And they weren't subtle.
"People made and lost about a third of a billion dollars just on one strike price," Galloway said. "It was clear someone knew what was going to happen&#8230; In a digital world, there will be evidence of this."
The <a href="https://www.benzinga.com/markets/equities/25/04/44728524/adam-schiff-and-elizabeth-warren-call-for-investigation-into-possible-insider-trading-by-trump-allies-as-markets-surge-after-90-day-tariff-pause-it-sure-looks-like-corruption">Democratic lawmakers are now calling for an investigation</a>, and while the traders remain anonymous for now, Galloway is convinced the trades weren't based on guesswork. He suspects someone with knowledge of the decision tipped off friends or donors.
"April 9 is going to be D-Day for insider trading," Galloway said. &#8220;I think that will come out about a week after the next president is inaugurated. I think the SEC and forensic accountants are going to find that there was so much bad sh&#x2A;t that went down [that day].
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
<h2 class="wp-block-heading">When the Market Becomes a Meme</h2>
Beyond the trades, the podcast explored how much damage Trump's policy U-turns are doing to the U.S. economy. Elson said that &#8220;the president has turned our economy or our stock market into a meme stock&#8221; — surging and collapsing based on his tweets instead of company fundamentals.
They warned that while some traders might profit off volatility, average investors, especially those managing 401(k)s, got burned. April 7 was the fifth-largest 401(k) trading day in history, with many workers locking in losses by panic-selling during the dip.
<h2 class="wp-block-heading">The Real Economy Is Slowing</h2>
Galloway also pointed out what's happening off Wall Street: Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) <a href="https://www.benzinga.com/25/04/44733013/microsoft-shelves-1-billion-ohio-data-center-plans-amid-global-project-withdrawals-we-are-slowing-or-pausing-some-early-stage-projects">shelved a $1 billion data center project</a> in Ohio. <a href="https://www.benzinga.com/news/global/25/04/44635537/horrifying-consequence-of-trumps-tariffs-schumer-blames-trump-tariffs-for-stellantis-layoffs">Stellantis paused production</a> in Canada and Mexico, resulting in 900 U.S. layoffs. Audi halted shipments to the U.S., and Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) <a href="https://www.benzinga.com/media/25/04/44729831/amazon-halts-orders-worth-over-500000-from-china-vietnam-and-other-asian-countries-following-trumps-tariff-plans-report">canceled large vendor orders</a> across Asia.&nbsp;
Even <a href="https://www.benzinga.com/markets/25/04/44774555/hollywood-becomes-collateral-damage-in-trump-tariff-war-as-china-slashes-film-imports-says-us-action">Hollywood's feeling the pressure</a>. China plans to reduce imports of American films, which brought in $585 million last year alone. "All of this nonsense is happening in the stock market&#8230; meanwhile, the real economy is grinding to a halt," Elson said.
Read Next:
<ul>
<li>BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a></li>
<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
</ul>
Image: Shutterstock

News

AMZN

MSFT

'Clearly Word Got Out'—Scott Galloway Says' April 9 Will Go Down As The Greatest Day Of Insider Trading In History'

When markets took another nosedive, one investor turned to Reddit&#8217;s <a href="https://www.reddit.com/r/StockMarket/comments/1k14ov0/dow_drops_nearly_700_points_nasdaq_tumbles_3_in/">r/StockMarket</a> to ask what many were thinking: &#8220;The volatility is insane. How do we trade?&#8221;
What followed was a cascade of chaos, sarcasm, serious concern and trading advice that ranged from cautious to completely unhinged. But one comment summed up the mood best: &#8220;You&#8217;re riding a drunken horse toward a burning barn. Trade accordingly.&#8221;
Don't Miss:
<ul>
<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
<li>Invest in the future of digital engagement: <a href="https://www.benzinga.com/money/vatom-adv">Own a piece of the $100 billion Metaverse for just $500</a>.</li>
</ul>
<h2 class="wp-block-heading">No Playbook, Just Mayhem</h2>
The post was sparked by a combination of tech sector weakness and rising fears about tariffs, inflation and Federal Reserve policy. A <a href="https://www.benzinga.com/tech/25/04/44856114/nvidia-says-it-follows-us-government-instructions-on-what-it-can-sell-and-where-amid-trade-war-escalation-with-china">warning from Nvidia</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) added fuel to the fire. The chipmaker said new U.S. government restrictions on chip exports to China could hurt its business. But while the market&#8217;s sharp drop had many investors looking for strategy, what they found was more like gallows humor.
&#8220;It's like a horse got let loose in a hospital,&#8221; another Redditor added, referencing comedian John Mulaney. &#8220;&#8230;and that horse has genital warts and dementia,&#8221; someone else chimed in.
<h2 class="wp-block-heading">Ditch the Options Casino? Or Dive Deeper?</h2>
Some users pleaded for sanity. &#8220;Retail traders need to stop playing the options casino,&#8221; one said. &#8220;Buy and hold shares and nothing else.&#8221;
Trending: <a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">This investment company boasts a 33.85% internal rate of return (IRR) for its realized projects, allowing accredited investors to earn passive returns and avoid the headaches of being a landlord.</a>
But others said short-dated options were exactly where profits could be made. &#8220;This is actually the perfect environment for 0DTEs,&#8221; one trader argued, referring to <a href="https://www.benzinga.com/news/events/24/09/41002623/master-market-fluctuations-with-0dte-options-heres-what-you-need-to-know">zero-days-to-expiration options</a>. &#8220;You can actually beat the dealers. Gotta know what you&#8217;re doing and choose the right side, though.&#8221;
Even those making money sounded exhausted. &#8220;I've made a small profit <a href="https://www.benzinga.com/insights/options/25/04/44612990/amazon-com-options-trading-a-deep-dive-into-market-sentiment">options trading on Amazon</a> from a swing within three hours alone,&#8221; one wrote. &#8220;I'm in green, but the wildness of these swings means I need to stay up all night watching the market. I just hate it and am going to cash out.&#8221;
<h2 class="wp-block-heading">Flight to Safety</h2>
Plenty of Redditors said they were pulling back entirely. &#8220;I&#8217;m just paying off all the debt until things stabilize,&#8221; one user wrote. &#8220;I am mostly sitting this one out. Only so much I can take before I get an ulcer.&#8221;
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
Others shifted toward gold, foreign stocks or <a href="https://www.benzinga.com/money/best-savings-accounts">high-yield savings accounts</a>. &#8220;I've heavily <a href="https://www.benzinga.com/money/strategic-gold-investments-to-make">invested in gold ETFs</a>, but this is insane! I did not see so much volatility during COVID. This has created havoc,&#8221; the original poster replied.
&#8220;Gold is the play if you want your assets to be worth anything in 2–3 years,&#8221; someone responded. However, others questioned buying at all-time highs, given the <a href="https://www.benzinga.com/government/regulations/25/04/44858165/policy-push-vs-market-pull-dollar-under-pressure-as-reserve-currency-may-be-called-into-question-amid-tariff-turmoil">weakening dollar</a>.
While some saw opportunity in the chaos, others saw systemic breakdown. One commenter warned of a possible &#8220;USSR-style collapse&#8221; and said dollar-cost averaging is now a guaranteed way to lose money.
Still, others held out hope. &#8220;The best long-term play is to put more into the stock market and DCA while it&#8217;s down,&#8221; one said. &#8220;In four years, we&#8217;ll have a different president with vastly different policies.&#8221;
Read Next:
<ul>
<li>BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a></li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>
Image: Shutterstock

NVDA

'How To Trade In This Volatility?' An Investor Asked. The Advice? 'You're On A Drunken Horse Headed For A Burning Barn. Trade Accordingly'

In the midst of a broad tariff agenda that has caused turmoil in financial markets, President Donald Trump is relying on a diverse group of economic advisers to guide his policies.
What Happened: The team comprises of Treasury Secretary&nbsp;Scott Bessent, Senior Trade Adviser&nbsp;Peter Navarro, Commerce Secretary&nbsp;Howard Lutnick, Director of the National Economic Council&nbsp;Kevin Hassett, and U.S. Trade Representative&nbsp;Jamieson Greer. 
These advisers, each with unique backgrounds and perspectives, are instrumental in shaping and executing Trump&#8217;s economic strategies.
According to the report <a href="https://thehill.com/homenews/administration/5256332-trump-economic-advisers/">by </a>The Hill, Bessent, a reliable figure among&nbsp;Republican lawmakers and Wall Street&nbsp;executives, is at the forefront of trade deal negotiations. 
Navarro, a staunch Trump loyalist, echoes the President&#8217;s firm stance on tariffs.&nbsp;Lutnick, a longtime friend of&nbsp;Trump&#8217;s, plays a crucial role in the administration&#8217;s tariff rollouts, despite his media appearances causing occasional disruptions.
Also Read: <a href="https://www.benzinga.com/markets/25/04/44780349/trumps-tariff-policies-fuel-economic-concerns-economists-expect-slower-growth-ahead">Trump&#8217;s Tariff Policies Fuel Economic Concerns, Economists Expect Slower Growth Ahead</a>
Hassett, essentially Trump&#8217;s chief economic adviser, is tasked with defending the president&#8217;s economic proposals. Greer, although lesser-known, is a pivotal figure in trade talks, serving&nbsp;as the U.S. Trade Representative.
Insiders suggest that Trump&#8217;s preference for officials with differing views is not uncommon, as he ultimately makes the final decisions on tariffs, trade, and the economy. However, these top economic aides have been thrust into the limelight as economists caution about potential repercussions from Trump&#8217;s policies.
Why It Matters: The diversity of Trump&#8217;s economic team reflects his approach to policy-making, which often involves taking into account a range of viewpoints before making a final decision. The team&#8217;s varied backgrounds and perspectives could potentially lead to a more comprehensive and balanced economic strategy. 
However, the potential fallout from Trump&#8217;s policies, as warned by economists, underscores the high stakes involved in these decisions. The team&#8217;s ability to navigate these challenges will be crucial in shaping the future of the U.S. economy.
Read Next
<a href="https://www.benzinga.com/25/04/44652222/trumps-tariffs-may-shift-us-spending-from-goods-to-services-creating-uncertainty-for-ecommerce-and-advertising-industries-analyst-warns" target="_blank" rel="noreferrer noopener">Tariffs To Impact End Demand: Goldman Sachs Analyst Expects Drag On Corporate Spending, Hiring</a>
Image: Shutterstock/Maxim Elramsisy

Politics

Markets

Meet the Key Five People Who Are Shaping Trump's Economic Agenda

Dave Ramsey has built a financial empire and has clear rules of how he intends to pass the money on to his children. That's why it made sense when a husband called into "The Ramsey Show" to discuss the inheritance he's accumulating for his four daughters.
The husband calculates that by the time he and his wife retire, they will have a nest egg that ranges from $8 million to $12 million. Ramsey congratulated the couple, but the call shifted into determining <a href="https://www.youtube.com/watch?v=gK2DFOT4FGo">how much money to give to the children.</a>
Don't Miss:
<ul>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
</ul>
The caller was looking for biblical guidance and doesn't want to spoil his children when it's time to give them the money. Although there is a misconception that the Bible teaches that money is evil, Ramsey nipped it in the bud.
"A Godly man leaves an inheritance to his children's children," Ramsey said during the call. That's not just his personal opinion, either. It's deeply rooted in the Bible.
<h2 class="wp-block-heading">Prepare Your Children For The Responsibility</h2>
Ramsey starts his suggestions by saying that the couple can teach the children how to manage the inheritance while the couple is still alive.&nbsp;
The daughters range from seven to 13 years old, so there is still plenty of time to instill good money habits. Ramsey said that you aren't required to give them an inheritance, but he also said to the husband that an inheritance isn't going to damage them. The husband seems to have believed that previously, and Ramsey continued to break this myth.
"Wealth magnifies the character of the person," Ramsey explained. Someone who has a good character will be able to manage the money more effectively. However, bad people end up becoming even worse once they have money.
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>
Ramsey goes on to mention that he told his children that they were not entitled to anything. Instead, they had to have a spiritual understanding of the wealth to be qualified to manage it. Ramsey views wealth as something that you do not own. You get to manage money, but God owns it.&nbsp;
Wealth is heavy to carry and comes with a lot of responsibility. Ramsey told the couple to teach their children now so they will be ready to handle that responsibility when the time arrives.
<h2 class="wp-block-heading">Make Sure They Are Qualified</h2>
Ramsey also said that the couple should cut any child out of the will who isn't qualified to manage the money. He said he would have done that with his own children if they weren't qualified to manage the money.
Since Ramsey views an inheritance as managing God's money, he wants to make sure his children follow the lessons in the Bible. Faith and spirituality are core components of how Ramsey approaches finances, and he wants his children to embrace that as well. All of his children have gone on to become adults who manage their finances responsibly.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
<h2 class="wp-block-heading">The Temple Of God Was Built With An Inheritance</h2>
The underlying context of the call is that the husband wanted to make sure it was biblically acceptable to give his daughters a large inheritance once the couple passed away.That's why the call included biblical references, including dispelling the myth that the Bible says that money is the root of all evil.
Ramsey breaks this common concern by reminding people that Solomon used the inheritance he received from David to build the First Temple in Jerusalem. Ramsey estimates that the temple cost $10 billion to $20 billion in current money to build.
"God uses families that have character generationally to manage His goods," Ramsey said when bringing up Solomon and David.
Read Next:
<ul>
<li>Maker of a life-changing asthma device with 12,000+ patients waiting, FDA clearance, and a 67% drop in attacks — now <a href="https://www.benzinga.com/money/how-a-10k-bet-on-health-care-originals-could-have-skyrocketed-your-portfolio">taking final investors at just $1.52 per share.</a></li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>
Image: Shutterstock

Personal Finance

A High Net Worth Couple Asks Dave Ramsey If Their Kids' Inheritance Is Too Big: 'A Godly Man Leaves An Inheritance To His Children's Children'

Shaquille O&#8217;Neal, the basketball legend, has recently revealed a career-defining regret in his autobiography. He admitted to not following the advice of his coach, Phil Jackson, which could have <a href="https://www.benzinga.com/general/sports/25/03/44348149/shaq-once-spent-1-million-in-a-day-on-luxury-then-realized-taxes-took-a-huge-cut">potentially extended his career.</a>
What Happened: After winning his third consecutive NBA championship with the Los Angeles Lakers in 2002, O&#8217;Neal was battling a serious toe problem. O&#8217;Neal expressed regret in his <a href="https://www.amazon.com/Shaq-Uncut-Story-Shaquille-ONeal/dp/B00BJDM1HM">autobiography</a> for not taking Jackson&#8217;s advice regarding a surgery that could have prolonged his career.
&#8220;He told me, &#8216;If you get this done right, you can play until you&#8217;re forty.&#8217; I wish I had listened to him,&#8221; O&#8217;Neal said in his autobiography. 
&#8220;I had hallux rigidus, which is a disorder of the joint located at the base of the big toe. It&#8217;s a form of degenerative arthritis,&#8221; he added in his memoir.
As per the report <a href="https://www.basketballnetwork.net/old-school/shaquille-oneal-regrets-not-following-phil-jackson-advice-that-couldve-extended-his-career">by</a> Basketball Network, O&#8217;Neal, despite his exceptional athleticism and towering height, was suffering from hallux rigidus, a type of degenerative arthritis that affects the joint at the base of the big toe. 
The condition had deteriorated to the point where surgery was unavoidable, leading to a critical decision about the type of procedure to undertake.
Phil Jackson, the renowned coach who had steered O&#8217;Neal&#8217;s growth from a promising talent to an indomitable force on the court, recommended a more comprehensive surgery. 
Also Read: <a href="https://www.benzinga.com/markets/25/04/44780032/shaqs-financial-wisdom-its-not-what-you-make-its-what-you-keep-and-whats-in-his-wallet-might-surprise-you">Shaq&#8217;s Financial Wisdom: &#8216;It&#8217;s Not What You Make, It&#8217;s What You Keep&#8217; — And What&#8217;s in His Wallet Might Surprise You</a>
This operation, frequently performed on ballet dancers who are familiar with severe toe pain, offered a more lasting solution but required an extended recovery period.
However, during intense contract negotiations with the Lakers, O&#8217;Neal opted for a less invasive surgery, fearing that a long recovery could undermine his negotiation position. 
He now acknowledges that this decision was a mistake. His toe problem continued, and he returned to the court not at his best, eventually leading to his trade to the Miami Heat in mid-2004.
Why It Matters: O&#8217;Neal&#8217;s revelation underscores the importance of health decisions in the career of professional athletes. His choice to prioritize contract negotiations over his long-term health had a significant impact on his career trajectory. 
This serves as a reminder to current and future athletes about the importance of considering long-term health implications when making career decisions.;
Read Next
<a href="https://www.benzinga.com/general/sports/25/03/44209990/nba-legend-shaqs-walmart-shopping-spree-ends-in-credit-card-decline-heres-how-much-he-tried-to-spend" target="_blank" rel="noreferrer noopener">NBA Legend Shaq&#8217;s Walmart Shopping Spree Ends In Credit Card Decline—Here&#8217;s How Much He Tried To Spend</a>

Sports

Shaq Regrets Ignoring Phil Jackson's Advice That Might Have Extended His Career: 'I Wish I Had Listened To Him'

The marketing lead for Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), Lucie, has issued a critical warning to the SHIB community. The warning is about potential scams and the significance of self-education in the cryptocurrency space.
What Happened: Lucie shared a post on X to alert the SHIB community about the risk of scammers. She stressed that the main defense against such threats is education and informed decision-making.
Lucie pointed out that scammers typically prey on those who are uninformed and thrive on hype. She encouraged the community to ignore trends and noise, focusing instead on solid, time-tested investments. &#8220;Learn. Research. Move with purpose. No shortcuts…&#8221;, she advised.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In the state of trenches we're living in, education is the only real weapon. Scammers thrive on hype. They prey on the uninformed. Forget the trends. Forget the noise. Only solid, time-tested investments will survive the storm. Learn. Research. Move with purpose. No shortcuts…
&mdash; 
</blockquote></div></figure>

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

Cryptocurrency

$SHIB

Shiba Inu Team Issues Major Anti-Scam Alert: Here's What You Need To Know

For more than two decades, a Minnesota woman managed to collect her deceased mother's <a href="https://www.benzinga.com/25/04/44775706/when-i-hear-our-politicians-say-were-not-gonna-touch-social-security-i-dont-believe-them-seniors-are-worried-about-doge-changes">Social Security benefits</a> — until a recent investigation brought the long-running scheme to an end.
<h2 class="wp-block-heading">A 25-Year Fraud Comes to Light</h2>
Mavious Redmond, 54, of Austin, Minnesota, pleaded guilty in federal court on April 9 to one count of theft of government funds. According to the U.S. Attorney's Office for the District of Minnesota, Redmond had been collecting <a href="https://www.benzinga.com/personal-finance/25/04/44785411/get-ready-for-april-16-social-security-payments-for-group-3-retirees-and-what-you-need-to-know-about-your-benefits">Social Security payments</a> meant for her mother since her passing in January 1999.
Don't Miss:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>
Instead of notifying the Social Security Administration of her mother's death, Redmond kept the payments flowing for 25 years, totaling more than $360,000.
"We are awash in federal programs fraud," said Acting U.S. Attorney Lisa D. Kirkpatrick in a <a href="https://www.justice.gov/usao-mn/pr/austin-woman-pleads-guilty-25-year-social-security-fraud-scam">&nbsp;statement</a>. "Redmond stole well more than a quarter million dollars in taxpayer funds. She scammed Social Security for literal decades. No more. My office will continue to aggressively pursue the federal programs fraud that plagues Minnesota."
<h2 class="wp-block-heading">Posing as Her Deceased Mother</h2>
The fraud came to a head in 2024 when Redmond took extraordinary steps to keep the deception going. According to court documents, she impersonated her deceased mother at least twice in person at a local Social Security office.
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
On June 4, Redmond submitted a fraudulent Social Security application under her mother's name. She used her mother's personal details, including her date of birth and Social Security number, and even forged her mother's signature. Just over two weeks later, she returned to the office and submitted the paperwork again.
These actions helped investigators confirm the extent of the fraud. The case was led by the SSA's Office of the Inspector General, according to Kirkpatrick's statement.&nbsp;
<h2 class="wp-block-heading">Charges and Next Steps</h2>
Redmond entered her guilty plea in U.S. District Court before Judge Nancy E. Brasel. While sentencing has not yet been scheduled, the charge of theft of government funds carries serious penalties, including the possibility of prison time, a court order to pay a fine of several thousand dollars, or both.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
<h2 class="wp-block-heading">Broader Concerns About Program Abuse</h2>
This case highlights growing concerns about <a href="https://www.benzinga.com/25/04/44769836/the-social-security-administration-claps-back-at-musk-the-agencys-records-are-highly-accurate">fraud in federal benefit programs</a>, particularly as government agencies work to modernize their oversight systems and prevent long-term abuse.
The SSA has safeguards in place to detect inconsistencies in benefit claims, but this case shows how determined individuals can still slip through the cracks, even for decades.
While most retirees and beneficiaries follow the rules, cases like this can raise questions about oversight, fairness, and how taxpayer dollars are protected. It's also a reminder of how important it is to report the death of a family member receiving benefits — and to avoid any temptation to continue collecting payments after that point.
The consequences, as Redmond's case shows, can be serious and long-lasting.
Read Next:
<ul>
<li>With high-demand properties in the Midwest, Bam Capital has delivered 2.46x equity multiples in just over 3 years. No losses. No missed payments. <a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">Learn more about becoming an investor today</a>. </li>
<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
</ul>
Image: Shutterstock

She Collected Her Mom's Social Security For 25 Years — Now She's Facing Justice

Billionaire Mark Cuban recently highlighted the potentially fatal repercussions of President Donald Trump&#8216;s ongoing tariff war.
What Happened: Cuban, who owns a pharmaceutical company that provides prescription drugs at a substantial discount, voiced his apprehension that the President&#8217;s trade war could drive up the prices of essential medications. 
In a post on X, Cuban said, &#8220;It&nbsp;will get ugly. They also&nbsp;are important to the manufacturers&nbsp;of medications. People could die.&#8221; 
Cuban also took a jab at those who endorse tariffs but do not strictly purchase American-made goods, branding them as hypocrites. He encouraged them to set an example by backing American manufacturing.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It will get ugly. They also are important to the manufacturers of medications. People could die
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1911499938086658140?ref_src=twsrc%5Etfw">April 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On the other hand, China&#8217;s leader Xi Jinping has voiced his resistance to the trade war, underlining that no one emerges victorious in such a situation. Despite some tariffs being put on hold, Trump has upheld a 145% duty on China, the globe&#8217;s second-largest economy.
Also Read: <a href="https://www.benzinga.com/tech/25/02/43424157/mark-cuban-suggests-20-minute-daily-habit-to-destabilize-musk-zuckerberg-and-even-president-trump" target="_blank" rel="noreferrer noopener">Mark Cuban Suggests 20-Minute Daily Habit to ‘Destabilize&#8217; Musk, Zuckerberg, and Even President Trump</a>
Trump has also refuted allegations that he has approved tariff exemptions for specific electronics, including smartphones, asserting that these&nbsp;products are subject to the&nbsp;current 20% Fentanyl Tariffs and are simply being shifted to a different tariff category.
Regardless of the inconsistent approach to tariffs,&nbsp;White House advisers and Cabinet&nbsp;members have endeavored to convey confidence and tranquility, even as Trump&#8217;s recent pronouncements indicate changing narratives.
Why It Matters: The escalating trade war could have far-reaching implications on the global economy and the healthcare sector. The hike in tariffs could lead to an increase in the cost of life-saving medications, posing a significant risk to patients who rely on these drugs. 
Moreover, the trade war could also potentially disrupt the supply chain of pharmaceutical companies, further exacerbating the situation. 
The ongoing trade tensions between the U.S. and China continue to create uncertainty, impacting global markets and economies.
Read Next
<a href="https://www.benzinga.com/news/25/03/44211508/mark-cuban-once-questioned-whether-donald-trump-is-really-a-billionaire">Mark Cuban Once Questioned Whether Donald Trump Is Really a Billionaire</a>
Image: Shutterstock

Mark Cuban Sounds Alarm Over Impact of Trump's Tariff War: 'People Could Die'

Popular tech YouTuber Zack Nelson, better known as JerryRigEverything, just called out Elon Musk for a bold promise that hasn't aged well. In a <a href="https://x.com/ZacksJerryRig/status/1912150669659873694">post</a> on X, he shared a screenshot showing that his 2018 Tesla Model X is now worth just $22,400. That's about 20% of what he paid for it, despite Musk&#8217;s claim that Teslas with Full Self-Driving would appreciate over time.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I remember when <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@ElonMusk</a> said my <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a> with FSD was an appreciating asset. Here we are 7 years later at 20% of its original value. &#x1f62a; <a href="https://t.co/QyJgEmxxLe">pic.twitter.com/QyJgEmxxLe</a>
&mdash; JerryRigEverything (@ZacksJerryRig) <a href="https://twitter.com/ZacksJerryRig/status/1912150669659873694?ref_src=twsrc%5Etfw">April 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Don't Miss:
<ul>
<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
<li>Invest in the future of digital engagement: <a href="https://www.benzinga.com/money/vatom-adv">Own a piece of the $100 billion Metaverse for just $500</a>.</li>
</ul>
<h2 class="wp-block-heading">The &#8220;Appreciating Asset&#8221; Pitch</h2>
Back in 2019, Musk said buying a Tesla was an investment, not an expense. &#8220;If you buy a Tesla today, I believe you are buying an appreciating asset – not a depreciating asset,&#8221; he <a href="https://www.youtube.com/watch?v=dEv99vxKjVI&amp;t=924s">claimed</a>. The idea was that Tesla would keep raising the price of its FSD package, making used Teslas more valuable.
But reality has gone in the opposite direction. Tesla has <a href="https://www.benzinga.com/news/24/04/38351810/tesla-fsd-is-now-nearly-50-cheaper-than-when-elon-musk-called-it-very-low-just-under-a-year-ago">cut the price of FSD</a> multiple times since 2023, and used Teslas are now losing value three times faster than the average car, according to recent market data.
In replies to the YouTuber&#8217;s post, many Tesla owners shared similar frustrations. Some said they &#8220;drank the Kool-Aid too&#8221; and bought more than one Tesla and saw each of them lose around half their original value. Others criticized Tesla for prioritizing its future robotaxi network instead of completing promised FSD features &#8220;they sold us years and years ago.&#8221;
Trending: <a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">This investment company boasts a 33.85% internal rate of return (IRR) for its realized projects, allowing accredited investors to earn passive returns and avoid the headaches of being a landlord.</a>
<h2 class="wp-block-heading">A Decade of Missed Targets</h2>
Musk has been overly optimistic about autonomy for years. At a 2015 Nvidia <a href="https://youtu.be/TDm6Snkle70?si=tweh-Du3cwT1dhuW&amp;t=619">conference</a>, he said <a href="https://www.benzinga.com/news/25/03/44458804/elon-musk-10-years-ago-called-autonomous-driving-a-solved-problem-said-we-will-be-there-in-a-few-years">self-driving was a &#8220;solved problem&#8221;</a> and predicted that fully autonomous cars would arrive in just a few years.
That timeline has repeatedly slipped. On a recent <a href="https://www.youtube.com/live/Gub5qCTutZo?si=slieCXQlJmjiVkM4&amp;t=2806">earnings call</a>, Musk finally admitted that Tesla's current hardware isn't enough to make full autonomy a reality. He said the realization was &#8220;absolutely painful and difficult.&#8221;
Ross Gerber, one of Tesla&#8217;s early investors, <a href="https://www.benzinga.com/25/03/44068902/tesla-fsd-like-a-12-year-old-driving-compared-to-waymo-says-ross-gerber-warning-uber-has-got-to-be-hurting">summed it up bluntly</a> in a recent post: &#8220;My Tesla FSD is like a 12-year-old driving next to a Waymo.&#8221;
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>
<h2 class="wp-block-heading">Still Waiting</h2>
Despite Musk's original vision of consumer-owned Teslas becoming income-generating robotaxis, the company is now shifting to a <a href="https://www.benzinga.com/markets/equities/25/03/44488029/tesla-teases-robotaxi-launch-in-texas-but-industry-veterans-question-safety-and-readiness-if-a-company-were-serious">small geo-fenced fleet in Austin, Texas</a>. Meanwhile, customers who paid thousands for FSD are left with a driver-assist system that still requires constant supervision.
Even some loyal fans are starting to lose patience. As one commenter put it: &#8220;The man is a genius at marketing to people on the spectrum. How on earth would any machine with as many moving parts as a car possibly appreciate in value?&#8221;
Read Next:
<ul>
<li>Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.</li>
<li>BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a></li>
</ul>
Image: Shutterstock

Popular YouTuber JerryRigEverything Says Elon Musk Promised His Tesla With FSD Would Gain Value. Seven Years Later, It's Worth Just 20%

A California couple is spending between $1,000 and $1,200 a month on groceries for just the two of them. Now, with a baby on the way, they&#8217;re trying to figure out whether that number is totally normal — or totally out of control.
<h2 class="wp-block-heading">Is This a Problem or Just Reality in 2025?</h2>
They cook nearly every meal at home, shop around for deals at stores like Trader Joe&#8217;s, Aldi, Costco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) and Grocery Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GO#NASDAQ">GO</a>), and avoid eating out except for a few meals each month. Their diet is mostly whole foods with minimal meat and processed items. The husband lifts weights and consumes a lot of calories, while the wife occasionally buys organic produce. They also avoid processed foods for health reasons.
Don't Miss:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
</ul>
&#8220;We bring home 215k a year, so we&#8217;re not hurting,&#8221; the poster <a href="https://www.reddit.com/r/budget/comments/1jnrzm8/spending_1000_1200_a_month_on_groceries_for_two/">wrote</a> on Reddit&#8217;s r/budget subreddit. &#8220;But we have a baby on the way, so we&#8217;re making sure every part of our budget is tight.&#8221;
<h2 class="wp-block-heading">Are They Overspending, or Is This the New Normal?</h2>
The post quickly drew hundreds of responses. Some people were shocked by the number, saying they feed families of four or five for the same amount. Others said that in high-cost-of-living areas like California, $1,000 a month for two adults who eat every meal at home isn&#8217;t outrageous.
Several commenters pointed out that household items — like detergent, paper towels and toiletries — might be sneaking into that total without them realizing it. Others noted that higher-calorie diets, like those required by athletes or weightlifters, can significantly increase grocery bills.
&#8220;The gym guy piece really explains the $1000. Probably having pre-workout and post-workout, high protein, and higher calorie intake.&#8221;
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
A few posters said they spend far less by planning meals around sales, <a href="https://www.benzinga.com/personal-finance/25/03/44065932/mark-cuban-was-asked-how-hed-invest-100k-his-answer-buy-bulk-toothpaste-and-soup-for-the-best-guaranteed-return-on-investment">buying in bulk</a>, and sticking to simpler <a href="https://www.benzinga.com/personal-finance/24/12/42347607/eat-only-beans-and-rice-says-dave-ramsey-heres-why-some-people-still-dont-get-what-hes-trying-to-say">meals like rice, beans</a> and frozen vegetables. One person claimed to feed two adults on $250 a month by using raw ingredients and avoiding name brands altogether.
But not everyone agreed that $1,200 was excessive. Some who eat similarly clean, minimally processed diets said they spend the same or even more — and feel fine about it.
&#8220;If you can afford it, then no big deal, I guess,&#8221; one user commented. &#8220;But it is all totally not necessary. You make your choice for what makes you happy, though.&#8221;
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
<h2 class="wp-block-heading">The Verdict? It Depends</h2>
Ultimately, the responses boiled down to one thing: It depends. On where you live. On how much you eat. On whether you&#8217;re buying organic. On whether you&#8217;re including non-food items in your grocery total. And on how much you&#8217;re willing to prioritize food quality over cost.
One of the most repeated suggestions was to <a href="https://www.benzinga.com/money/expense-tracker">track your spending</a> line by line for a month and see where the money is actually going. You might find some surprises hiding in your cart.
And if it still adds up to $1,200? Well, maybe that's just what it takes to eat well in 2025 — especially in California.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">This investment company boasts a 33.85% internal rate of return (IRR) for its realized projects, allowing accredited investors to earn passive returns and avoid the headaches of being a landlord.</a></li>
<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
</ul>
Image: Shutterstock

COST

A Couple In California Is Spending $1,200 A Month On Groceries For Two. Now They're Wondering, 'Is This Crazy?'

Billionaire&nbsp;Warren Buffett&nbsp;once shared his insights on achieving success, emphasizing the importance of recognizing personal strengths, choosing the right partners, and not fearing mistakes.
What Happened: Buffett, who became&nbsp;a millionaire by age 32, attributed his success to his first job of selling Coca-Cola bottles door-to-door. He advised Gen Zers to identify their strengths and surround themselves with the right people, emphasizing the importance of intelligence, energy, and integrity in a work partner.
Buffett also highlighted the significance of embracing mistakes, a message that may resonate with Gen Zers who have faced career challenges due&nbsp;to the pandemic and economic&nbsp;uncertainty.
"Figure out what your strengths are and then pick the right people and don't be afraid of making mistakes," Buffett&nbsp;<a href="https://www.instagram.com/cbssundaymorning/reel/DGqR78rOelc/">told </a>CBS News.
Buffett&#8217;s long-lasting partnership with Charlie Munger, who served&nbsp;as vice chairman of Berkshire&nbsp;Hathaway until his death in 2023, was cited as an example of a successful business relationship. The billionaire investor stressed that the right business partner can significantly impact one&#8217;s success.
Also Read: <a href="https://www.benzinga.com/markets/25/04/44778463/warren-buffetts-wealth-grows-even-amid-tariff-war-and-global-market-turmoil">Warren Buffett&#8217;s Wealth Grows Even Amid Tariff War and Global Market Turmoil</a>
He also mentioned the importance of investing in oneself, stating that the path to wealth is akin to a &#8220;choose your own adventure&#8221; journey.
"Every time I'm with Charlie, I've got at least some new slant on an idea that causes me to rethink certain things. We've had so much fun in the partnership over the years," Buffett&nbsp;said. 
Why It Matters: Buffett&#8217;s advice comes at a crucial time when Gen Zers are navigating their way through career paths amidst a challenging economic landscape. His emphasis on recognizing personal strengths and choosing the right partners provides a roadmap for young professionals seeking to carve their niche in the professional world.
Furthermore, his message of embracing mistakes resonates with the current generation that has faced unprecedented career challenges due to the pandemic. This advice could potentially inspire Gen Zers to view their mistakes as learning opportunities rather than setbacks.
The billionaire&#8217;s emphasis on the importance of investing in oneself underscores the need for continuous learning and personal development, a crucial aspect in today&#8217;s rapidly evolving professional landscape.
Read Next
<a href="https://www.benzinga.com/news/25/03/44067936/warren-buffett-says-this-is-the-most-important-financial-decision-and-its-not-investing">Warren Buffett Says This Is the Most Important Financial Decision — and It&#8217;s Not Investing</a>
Image: Shutterstock/Maryna Linchevska

Success Stories

Warren Buffett's Success Mantra for Gen Z: 'Figure Out What Your Strengths Are, Then Pick the Right People and Don't Be Afraid of Making Mistakes'

If you're <a href="https://www.benzinga.com/money/real-estate-forecast-for-the-next-10-years">watching the housing market</a> closely, here's something to pay attention to: Builders are sitting on more unsold homes than we've seen since the Great Recession. And that's leading to something pretty rare in <a href="https://www.benzinga.com/real-estate">real estate — real deals</a>.
Thanks to years of aggressive building during the post-pandemic housing boom, combined with today's higher mortgage rates and affordability challenges, some builders are sitting on a glut of "spec homes" — move-in ready properties built without a buyer lined up. 
To move these homes, they're offering major incentives: we're talking lower interest rates (thanks to mortgage rate buydowns), credits toward closing costs, and even cash for upgrades. In some areas, prices are dropping by tens of thousands of dollars, according to a Yahoo Finance <a href="https://finance.yahoo.com/news/builders-sitting-on-a-pile-of-unsold-homes-are-slashing-prices-and-offering-mortgage-rate-deals-140058365.html">report</a>.
See Also: <a href="https://www.benzinga.com/markets/25/04/44861156/america-first-is-ok-but-not-america-alone-says-jamie-dimon-as-he-calls-for-us-china-engagement-amid-trade-tensions-start-with-a-phone-call">&#8216;America First Is OK, But Not America Alone,&#8217; JPMorgan CEO Jamie Dimon Says</a>
But — and it's a big but — this isn't happening everywhere. Markets like Texas, Florida, and parts of Arizona, where <a href="https://www.benzinga.com/money/how-buy-new-construction-home">new construction homes</a> have exploded in recent years, are seeing the biggest discounts. Think of suburbs around Austin or San Antonio, where buyers have scored five-figure price cuts, plus perks like new appliances and upgraded finishes. Meanwhile, more land-constrained areas like coastal California or parts of the Midwest still have limited inventory and red-hot demand. There? Prices are holding firm.
It's a tale of two markets: one where buyers can finally flex some negotiating power, and another where bidding wars are still the norm.
Builders are walking a fine line right now — clearing out inventory while bracing for the next wave of economic uncertainty. That's why they're prioritizing flexibility. Many are shifting to spec home construction. This is not just to meet buyer demand for quick move-ins, but also to get ahead of potential tariff hikes and rising labor costs.
So what does this mean if you're house hunting in 2025? If you're in the right market — or willing to move to one — you might find a new construction home that's suddenly within reach. But don't wait too long. As inventory gets cleared out, the leverage may swing back to sellers sooner than you think.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/04/44834499/top-3-real-estate-stocks-that-may-explode-in-q2">Top 3 Real Estate Stocks That May Explode In Q2</a></li>
</ul>
Image: Shutterstock

Financial Advisors

Real Estate

Homebuilders Are Slashing Prices — But Only In Certain Markets

During the formative years of&nbsp;Netflix Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), co-founders Marc Randolph and Reed Hastings made a bold decision to decline an acquisition proposal from Jeff Bezos, the founder of&nbsp;Amazon Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
What Happened: According to a recent interview, Hastings&nbsp;said that Bezos had shown interest in buying Netflix in 1998, as part of Amazon&#8217;s strategy to expand into the video market. "It never got to, like, a formal offer. It was sort of exploratory," he <a href="https://www.youtube.com/watch?v=2ES_G88EG8Y">said</a>.&nbsp;
"We said no and then worked our a &#8212; off for 20 years," Hastings said.
While no official offer was put forth, Bezos&#8217; team suggested a price in the low eight figures, which Randolph estimated to be&nbsp;between $14 million and $16&nbsp;million, according to&nbsp;his 2019 memoir, &#8220;That Will&nbsp;Never Work.&#8221;
"When someone uses ‘low eight figures,' that means barely eight-figures. That means probably something between $14 million and $16 million," Randolph wrote in the memoir. 
Also Read: <a href="https://www.benzinga.com/tech/25/04/44780229/decoding-jeff-bezos-unique-amazon-interview-question-a-key-to-hiring-success">Decoding Jeff Bezos&#8217; Unique Amazon Interview Question: A Key To Hiring Success?</a>
Despite facing financial difficulties, the Netflix co-founders believed they were on the brink of a major breakthrough. They had successfully sourced nearly every DVD available, positioning Netflix as the top online source for DVDs. As a result, they turned down Bezos&#8217; offer.
In a twist of fate, Randolph and Hastings&nbsp;found themselves in a similar&nbsp;predicament with Blockbuster in 2000,&nbsp;but this time they were&nbsp;the ones seeking a deal. However, Blockbuster&#8217;s CEO, John Antioco, did not take their proposal seriously.
Why It Matters: Today, Netflix has grown into a global video streaming and production giant&nbsp;with a market cap of&nbsp;$411.34 billion and over 300 million subscribers worldwide. 
The decision to reject Bezos&#8217; early acquisition offer has clearly paid off, allowing Netflix to carve out its own path in the industry and become a leader in the streaming market.
Read Next
<a href="https://www.benzinga.com/news/24/06/39563534/jeff-bezos-reveals-the-one-secret-to-success-you-can-have-a-job-or-you-can-have-a-career-or">Jeff Bezos Reveals The One Secret To Success: &#8216;You Can Have A Job, Or You Can Have A Career, Or &#8230;&#8217;</a>
Image: Shutterstock/Daniel Avram

Tech

NFLX

Jeff Bezos Once Tried to Buy Netflix, Co-Founder Says: 'We Said No and Then Worked Our A-- Off for 20 Years'

Jeffrey Epstein, the infamous&nbsp;financier, was allegedly offered a&nbsp;plea deal by federal prosecutors.&nbsp;The deal was contingent on&nbsp;Epstein providing information on President Donald Trump, <a href="https://www.benzinga.com/news/24/11/41703154/michael-wolff-on-donald-trump-jeffrey-epstein-relationship">as claimed by Epstein&#8217;s former cellmate.</a>
What Happened Epstein&#8217;s&nbsp;ex-cellmate, Nicholas Tartaglione, made the&nbsp;startling claim that Epstein was&nbsp;offered the&nbsp;opportunity to plead guilty to&nbsp;a lesser charge in exchange&nbsp;for&nbsp;information that could potentially lead&nbsp;to Trump&#8217;s impeachment.
Facing serious charges such as sex trafficking of minors and sexual exploitation, Epstein allegedly disclosed the details of the deal after a meeting with federal prosecutors, as reported <a href="https://nypost.com/2025/01/18/us-news/feds-offered-jeffrey-epstein-a-deal-for-dirt-on-trump-ex-cellmate/">by</a> The New York Post.
He was quoted as saying, "They told me they'd&nbsp;let me plead out something&nbsp;small, and I'll&nbsp;do just a couple of&nbsp;years in a camp, if&nbsp;I can give them something&nbsp;on Trump to get him&nbsp;impeached."
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/05/38630738/jeffrey-epsteins-second-black-book-is-up-for-sale-and-it-contains-the-names-of-over-200-previously-u" target="_blank" rel="noreferrer noopener">Jeffrey Epstein's Second ‘Black Book' Is Up For Sale — And It Contains The Names Of Over 200 Previously Undisclosed People, Including Carl Icahn</a>
According to Tartaglione,&nbsp;Epstein contemplated fabricating information to&nbsp;save himself, admitting he didn&#8217;t possess&nbsp;any significant information about Trump.&nbsp;Epstein&#8217;s relationship with Trump was reportedly purely social.
&#8220;He says, but the government told me I don&#8217;t have to prove what I say about Trump, as long as Trump&#8217;s people can&#8217;t disprove it,&#8221; Tartaglione told the outlet adding that Epstein considered &#8220;making stuff up&#8221; to save his skin.
However, no other source has corroborated Tartaglione&#8217;s allegations, and representatives&nbsp;for Manhattan federal prosecutors have&nbsp;declined to comment on these&nbsp;claims. The veracity of these claims remains unconfirmed.
Why It Matters: This revelation, if true, could&nbsp;have significant implications on the political landscape. It suggests that federal prosecutors were willing to offer leniency to a person facing serious criminal charges in exchange for politically damaging information. 
Read Next
<a href="https://www.benzinga.com/general/entertainment/22/06/27557540/musk-says-he-wants-to-see-epstein-maxwell-client-list-twitterati-cant-stop-trolling-him-3" target="_blank" rel="noreferrer noopener">Musk Asks Why Epstein-Maxwell Client List Hasn't Leaked, Responds To Twitter User Who Suggested He Was A Client Himself</a>
Image: Shutterstock/Copyright Lawrey

Ex-Cellmate Says Epstein Was Offered Plea Deal for Information on Trump: 'Give Them Something on Trump To Get Him Impeached'

<ul>
<li>Chinese officials are arguing for cryptocurrency regulations to deal with seized assets.</li>
<li>Despite a trading ban, Chinese local governments have reportedly been selling seized crypto assets through private companies.</li>
<li>While mainland China continues to uphold its cryptocurrency ban, Hong Kong is pushing to become a cryptocurrency hub.</li>
</ul>
Once the leading cryptocurrency trading and mining hub, China has long ceded its dominance to the U.S. following a series of suppressive regulatory measures, including <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/23087129/chinas-new-crypto-ban-is-10-days-old-but-panic-sellers-send-bitcoin-to-40-900">a blanket ban in 2021</a>.
Now, nearly four years later, the Asian economic giant may be considering a potential softening of its treatment of cryptocurrencies, but not for the reasons many would have anticipated.
Don't Miss:
<ul>
<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>
<h2 class="wp-block-heading">Judicial Recognition</h2>
According to a Reuters <a href="https://www.reuters.com/world/china/china-debates-how-handle-criminal-crypto-cache-2025-04-15/?utm_source=reddit.com#:~:text=But%20local%20governments%20have%20been,court%20documents%20seen%20by%20Reuters.">report</a>, Chinese law enforcement officials, lawyers and financial industry participants are pushing for some judicial recognition of cryptocurrencies as assets in a potential landmark shift for the country&#8217;s cryptocurrency industry.
The calls come as the country sees a spike in cryptocurrency asset seizures from criminal cases. The lack of clear rules on how to handle these seizures is raising corruption concerns.
So far, Chinese local governments have been selling these seized cryptocurrencies for cash through private firms to shore up their coffers amid an economic slowdown. Specifically, the assets are sold for U.S. dollars in foreign markets and converted into yuan by local banks before being transferred to local government accounts holding public funds.
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
Using this method, a local technology company, Jiafenxiang, has sold over 3 billion yuan, or about $41 million, worth of cryptocurrency assets on behalf of three local governments, Xuzhou, Hua&#8217;an, and Taizhou, since 2018.
But most officials argue that current methods are inconsistent and opaque, with at least one expert arguing that the sales go against the country&#8217;s ban on crypto trading. In a January <a href="https://mp.weixin.qq.com/s?__biz=MzAxNDQwNzcyMA==&amp;mid=2651048531&amp;idx=1&amp;sn=1c3ae30bfa1e490f55fab0c0c883d68d">seminar</a> on the issue, officials reportedly suggested everything from establishing clear guidelines to a strategic reserve <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44184474/trump-announced-strategic-bitcoin-reserve-to-allow-buying-additional-btc-peter-schiff-doesnt-think-so-but-heres-what-the-order-says">like the Trump administration</a>, all of which could be a boon for the industry by paving the way for greater adoption.
Nonetheless, the amount of cryptocurrency assets the Chinese government holds is debatable. While Bitbo Treasuries <a href="https://treasuries.bitbo.io/countries/">suggests</a> that the country has 194,000 BTC worth over $16 billion, most of which <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29582013/china-holds-6-billion-worth-of-crypto-could-kill-crypto-markets-if-it-wishes-analyst">were seized from the PlusToken scam</a>, Bitcoin investment firm River <a href="https://river.com/learn/who-owns-the-most-bitcoin/">indicates</a> that the government only holds 15,000 BTC worth about $1.4 billion.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
The disparity comes as some analysts <a href="https://x.com/ki_young_ju/status/1882328830649799039?t=yLO3EB6HMMEK3-ljETwTzg&amp;s=19">suggest</a> that China has since disposed of Bitcoin assets seized from the PlusToken Ponzi scheme. According to conflicting data, China is either the country with the second largest or 14th largest Bitcoin holdings.
While mainland China continues to uphold its cryptocurrency ban, Hong Kong is pushing to become a cryptocurrency hub. The special administrative region of China <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38219730/hong-kong-poised-to-approve-spot-bitcoin-and-spot-ether-etfs-report">has approved several spot Bitcoin and Ethereum exchange-traded funds</a> and <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560364/hong-kong-approves-four-new-crypto-exchanges-positioning-itself-as-a-key-hub-expert-says">issued licenses to several cryptocurrency exchanges</a>.
Whether the mainland will eventually follow a similar path, especially as the U.S. seeks to take the lead in the sector under Trump, remains to be seen. But legal recognition of the assets could be a good start.
Read Next:
<ul>
<li>With high-demand properties in the Midwest, Bam Capital has delivered 2.46x equity multiples in just over 3 years. No losses. No missed payments. <a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">Learn more about becoming an investor today</a>. </li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>
Image: Shutterstock

China Set To Give Crypto Legal Recognition? Dumping of Seized Assets To Navigate Economic Slowdown Sparks Debates

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Webull Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BULL#NASDAQ">BULL</a>) shares escalated 119.05%. The stock debuted on the <a href="https://www.benzinga.com//node/44876727" target="_blank" rel="noreferrer noopener">Nasdaq earlier last week</a>.</li>
<li>Hertz Global Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) shares skyrocketed 99.03% after Bill Ackman&#8217;s Pershing Square Capital Management filed an amended 13F showing that the firm purchased 12.71 million shares of the rental car company as of Dec. 31, representing <a href="https://www.benzinga.com//node/44853443" target="_blank" rel="noreferrer noopener">a stake of approximately 4.1%</a>.</li>
<li>Metsera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTSR#NASDAQ">MTSR</a>) stock is jumping 49.62% after Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) discontinued <a href="https://www.benzinga.com//node/44790653" target="_blank" rel="noreferrer noopener">the development of danuglipron</a>.</li>
<li>Vista Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIST#NYSE">VIST</a>) shares surged 35.52% after the company announced it acquired Petronas E&amp;P Argentina through a mixed transaction consisting of $900 million in cash, $300 million in deferred payments, and <a href="https://www.benzinga.com//node/44848713" target="_blank" rel="noreferrer noopener">approximately 7.3 million ADS units</a>.</li>
<li>Certara, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERT#NASDAQ">CERT</a>) stock upped 34.63% after the company issued a year-over-year increase in its first-quarter revenue guidance and announced a $100 million share repurchase program. Additionally, the company announced it launched a non-animal navigator solution to help drug developers <a href="https://www.benzinga.com//node/44798103" target="_blank" rel="noreferrer noopener">reduce reliance on animal testing.</a></li>
<li>Sibanye-Stillwater (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBSW#NYSE">SBSW</a>) shares 27.76%, probably amid a rally in the value of the commodity past the price of $3300 and towards an all-time high.</li>
<li>Banco Macro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) stock increased 27.71%.</li>
</ol>
Photo by via Shutterstock

Equities

Mid Cap

Movers

BULL

CERT

MTSR

SBSW

VIST

ZLAB

Hertz Global And Webull Stocks Are Among Top Mid-Cap Gainers Last Week (Apr 14-Apr 18): Are The Others In Your Portfolio?

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang continued his high-level tour in China with a meeting in Shanghai on Friday, following discussions with central government <a target="_blank" href="https://www.benzinga.com/markets/25/04/44858727/jensen-huang-in-china-for-talks-as-us-tightens-nvidia-chip-restrictions-report" rel="noreferrer noopener">officials in Beijing a day earlier</a>.
The visit comes amid tightening U.S. restrictions on chip exports to China, which have created headwinds for American semiconductor firms.
Huang&#8217;s two-day itinerary included a sit-down with He Lifeng, China&#8217;s vice-premier overseeing trade relations with the U.S., in a move widely interpreted by Chinese media as a sign of Nvidia&#8217;s long-term commitment to the region, South China Morning Post <a target="_blank" href="https://www.scmp.com/news/china/diplomacy/article/3307168/nvidia-boss-jensen-huang-meets-shanghai-mayor-wake-new-us-export-controls-chips" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://benzinga.com/25/04/44855538/cathie-woods-crypto-shuffle-pours-5-2-million-into-newly-listed-solana-staking-fund-dumps-bitcoin-etf-and-buys-robinhood-dip" rel="noreferrer noopener">Cathie Wood&#8217;s Crypto Shuffle: Pours $5.2 Million Into Newly Listed Solana Staking Fund, Dumps Bitcoin ETF And Buys Robinhood Dip</a>
On Friday, Shanghai Mayor Gong Zheng welcomed Huang, highlighting the city&#8217;s investor-friendly policies and industrial strength.
Huang, in turn, called Shanghai a vital part of Nvidia&#8217;s global research and development footprint, citing the city&#8217;s market scale, sophisticated client base, and mature tech ecosystem as core advantages, the report adds.
Huang emphasized the transformative potential of artificial intelligence, advocating for stronger global cooperation to harness its benefits.
He reiterated Nvidia&#8217;s intention to maintain robust ties with Chinese partners and encouraged cross-border collaboration to drive innovation and prosperity.
The visit comes at a pivotal moment for Nvidia.
The company&#8217;s stock has slipped nearly 25% over the last quarter. Meanwhile, the U.S. government recently announced that Nvidia would require a special license to export its H20 chips—products specifically tailored for China under prior export rules.
The new restriction could cost the company an estimated $5.5 billion in lost sales, South China Morning Post adds.
Chinese tech companies, which rely heavily on GPUs like Nvidia&#8217;s for AI training, have been ramping up infrastructure to support domestic AI development.
After the unveiling of a low-cost AI model by local startup DeepSeek, China has doubled down on building national computing hubs to compete globally.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44868280/us-listed-chinese-stocks-face-250-billion-forced-selling-risk-as-delisting-fears-emerge-what-investors-need-to-know" target="_blank" rel="noreferrer noopener">US-Listed Chinese Stocks Face $250 Billion Forced Selling Risk As Delisting Fears Emerge: What Investors Need To Know</a></li>
</ul>
Image: Shutterstock/jamesonwu1972

General

Nvidia's Jensen Huang Meets Shanghai Mayor Amid Fresh US Chip Curbs

Defense Secretary Pete Hegseth lost four key staffers in one day, causing a significant upheaval within the Pentagon.
What Happened: Hegseth&#8217;s Chief of Staff Joe Kasper is set to leave his position in the coming days. Kasper will, however, remain within the agency. Three other Defense aides, who were previously put on leave due to an ongoing leak investigation, were terminated on Friday.
These include senior advisor Dan Caldwell, Deputy Chief of Staff Darin Selnick, and Colin Carroll, the chief of staff to the deputy secretary of Defense. Carroll and Selnick are reportedly planning to sue for wrongful termination, <a href="https://www.politico.com/news/2025/04/18/defense-secretary-chief-of-staff-joe-kasper-departure-00299508">reports</a> Politico.
The Pentagon has been grappling with a series of leaks recently, including the disclosure of military plans and intelligence gathering activities. This upheaval comes amidst a scandal involving Hegseth and a group chat&nbsp;on Signal, an encrypted messaging&nbsp;app, where he&nbsp;shared forthcoming plans for airstrikes&nbsp;on Houthi rebel targets in&nbsp;Yemen.
One senior Pentagon official told&nbsp;the outlet that Kasper had clashed&nbsp;with the aides who were fired, indicating a personality clash. Another defense official described the situation as a &#8220;complete meltdown&#8221; reflecting on Hegseth&#8217;s leadership. A third official predicted more chaos to come.
Also Read: <a href="https://www.benzinga.com/news/24/11/41866424/pentagon-officials-weigh-responses-to-possible-illegal-orders-under-trump">Pentagon Officials Weigh Responses To Possible Illegal Orders Under Trump</a>
"There is a complete meltdown in the building, and this is really reflecting on the secretary's leadership," the other senior defense official said. "Pete Hegseth has surrounded himself with some people who don't have his interests at heart."
Hegseth was confirmed by the&nbsp;Senate by a narrow margin after facing&nbsp;allegations of rape, smelling of&nbsp;alcohol while working as a&nbsp;Fox News host, and adultery, all of which he denied.
Why It Matters: The sudden departure of four key staffers from the Pentagon, including the Chief of Staff, is a significant event that could potentially disrupt the functioning of the Defense Department. The ongoing leak investigation and the scandal involving Hegseth&#8217;s sharing of sensitive military plans have already put the Pentagon under a spotlight. 
The loss of these staffers, coupled with the potential legal action from the terminated aides, could further escalate the situation. 
The turmoil within the Pentagon could also have implications for national security, given the department&#8217;s crucial role in defense and intelligence. The situation warrants close monitoring in the coming days.
Read Next
<a href="https://www.benzinga.com/markets/equities/25/04/44755181/pentagon-slashes-5-1-billion-in-accenture-deloitte-booz-allen-contracts-thats-a-lot-of-consulting">Pentagon Slashes $5.1 Billion In Accenture, Deloitte, Booz Allen Contracts: &#8216;That&#8217;s A Lot Of Consulting&#8217;</a>
Image: Shutterstock/Jeremy Christensen

'There Is Complete Meltdown in the Building': Defense Secretary Loses Four Key Staffers in a Single Day

Kevin O&#8217;Leary, the investor perhaps best known for his sharp takes on ABC&#8217;s &#8220;Shark Tank,&#8221; is betting big on North Dakota. And he believes the state is poised to take the top spot in America for wealth per person.
&#8220;I believe that the people of North Dakota are the Norwegians of America because their net worth per capita is going to be No. 1 in the U.S. soon,&#8221; O&#8217;Leary recently <a href="https://x.com/kevinolearytv/status/1912661740992844103">posted</a> on X. &#8220;They have so much wealth in the ground and there are only 750,000 of them!&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I believe that the people of <a href="https://twitter.com/hashtag/NorthDakota?src=hash&amp;ref_src=twsrc%5Etfw">#NorthDakota</a> are the <a href="https://twitter.com/hashtag/Norwegians?src=hash&amp;ref_src=twsrc%5Etfw">#Norwegians</a> of America because their net worth per capita is going to be #1 in the <a href="https://twitter.com/hashtag/US?src=hash&amp;ref_src=twsrc%5Etfw">#US</a> soon. They have so much wealth in the ground and there are only 750k of them! <a href="https://t.co/FGYhpjdye8">https://t.co/FGYhpjdye8</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1912661740992844103?ref_src=twsrc%5Etfw">April 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Don't Miss:
<ul>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
<li>Invest in the future of digital engagement: <a href="https://www.benzinga.com/money/vatom-adv">Own a piece of the $100 billion Metaverse for just $500</a>.</li>
</ul>
<h2 class="wp-block-heading">From Shark Tank to Statewide Investments</h2>
O&#8217;Leary&#8217;s confidence isn't just talk. Through his Wonder Fund North Dakota, he&#8217;s managing a $45 million investment initiative focused on <a href="https://www.benzinga.com/money/how-to-invest-in-startups">early-stage companies</a>, according to the O&#8217;Leary Ventures <a href="https://olearyventures.com/north-dakota/">website</a>. The fund is part of the State Small Business Credit Initiative and aims to unlock even more private capital for local startups.
O&#8217;Leary&#8217;s North Dakota journey began nearly a decade ago with an $80,000 investment in Fargo-based PRx Performance—one of the most successful pitches in Shark Tank history. &#8220;That really opened me up to the possibilities of what we can do in Fargo, Bismarck, and everywhere else in North Dakota,&#8221; O&#8217;Leary told <a href="https://fargoinc.com/mr-wonderful-sees-big-things-in-north-dakota/">Fargo INC!</a> in 2023.
But O&#8217;Leary says the real draw is the state's business-friendly environment. &#8220;I would never do a fund like this in New York, New Jersey, Massachusetts, or California,&#8221; he said. &#8220;Those states are uninvestable&#8230; North Dakota is very competitive, particularly now.&#8221;
Trending: <a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">This investment company boasts a 33.85% internal rate of return (IRR) for its realized projects, allowing accredited investors to earn passive returns and avoid the headaches of being a landlord.</a>
He credits the state's pro-business policies, remote work advantages, and stable government as key factors in attracting capital. &#8220;This is a golden period for North Dakota, it really is,&#8221; O&#8217;Leary told Fargo INC!. &#8220;It's going to come out swinging as a competitive state. It's no longer just Texas or Florida anymore.&#8221;
<h2 class="wp-block-heading">Wonder Fund: Where the Money&#8217;s Going</h2>
The Wonder Fund is multisector but focused on tech, agriculture, agtech, land, and energy—especially projects that sequester carbon. O&#8217;Leary says the goal is not only to invest state money wisely, but also to attract 10 to 30 times more capital alongside it.
Transparency is also a major part of the strategy. The fund gives state officials real-time access to detailed data on every investment. &#8220;As a fiduciary, I feel the best thing to do is to shine a light on everything,&#8221; O&#8217;Leary said.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
<h2 class="wp-block-heading">The Legacy Fund Connection</h2>
O&#8217;Leary&#8217;s optimism ties into the broader financial foundation being built in North Dakota. <a href="https://www.benzinga.com/news/25/02/43579036/the-worlds-largest-1-7-trillion-sovereign-wealth-fund-holds-key-lessons-for-trump-and-the-u-s-will-they-listen">Just like in Norway</a>, the state's $11 billion Legacy Fund, a sovereign wealth fund backed by oil and gas tax revenue, is designed for long-term prosperity.
With the 2024 passage of Measure No. 3, the fund became even more future-focused. Lawmakers can now access only 5% of the fund's principal during each two-year budget cycle, down from 15%. This means more of the fund can be invested long-term, with a projected $30 million boost in earnings in just the first year.
&#8220;The Legacy Fund was created to provide financial stability and deliver sustained economic benefits for North Dakotans,&#8221; said state Rep. Glenn Bosch, vice chair of the Legacy and Budget Stabilization Fund Advisory Board.
According to the Retirement and Investment Office <a href="https://www.rio.nd.gov/news/north-dakotas-legacy-fund-sovereign-wealth-fund-designed-long-term-prosperity">website</a>, the fund has already transferred more than $1.8 billion to the general fund over the last three budget periods, helping fund infrastructure, tax relief, and other projects. Another $601 million is set to transfer in June.
Read Next:
<ul>
<li>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></li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>
Image: Shutterstock

'People Of North Dakota Are The Norwegians Of America,' Says Kevin O'Leary—'Their Net Worth Per Capita To Be No. 1 In The US' Here's Why

These large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) stock dipped 23.60% after the company reported worse-than-expected first-quarter results and cut its FY25 adjusted <a href="https://www.benzinga.com//node/44860240" target="_blank" rel="noreferrer noopener">EPS guidance below estimates</a>.</li>
<li>Global Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) shares declined 16.55% after the company announced it had bought a <a href="https://www.benzinga.com//node/44862867" target="_blank" rel="noreferrer noopener">stake in Worldpay for $6.6 billion</a>.</li>
<li>Applovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) stock decreased 9.71% after Goldman Sachs analyst Eric Sheridan cut its price <a href="https://www.benzinga.com/quote/app/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast from $500 to $335</a>.</li>
<li>Humana Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) stock was down 8.88% on pin action after UnitedHealth Group, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) reported worse-than-expected <a href="https://www.benzinga.com//node/44860240" target="_blank" rel="noreferrer noopener">first-quarter results</a>.</li>
<li>DaVita Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>) shares fell 8.69% in the last week.</li>
<li>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) stock declined 8.20% amid <a href="https://www.benzinga.com//node/44821791" target="_blank" rel="noreferrer noopener">the FTC&#8217;s antitrust trial</a>. Several analysts lowered the <a href="https://www.benzinga.com/quote/meta/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) shares dived 7.70%.</li>
<li>CoreWeave, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) stock was down 7.37%.</li>
<li>Burlington Stores, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) shares fell 6.97% amid overall market weakness after Fed Chair Powell made remarks at the Economic Club.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares declined 6.46% after JP Morgan analyst Samik Chatterjee cut its price forecast on the <a href="https://www.benzinga.com/quote/smci/analyst-ratings" target="_blank" rel="noreferrer noopener">stock from $45 to $39</a>.</li>
<li>GlobalFoundries Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>) shares declined 6.24% after NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) said the US government recently informed that it would need a <a href="https://www.benzinga.com//node/44856114" target="_blank" rel="noreferrer noopener">license to export chips to China</a>.</li>
</ol>
Photo via Shutterstock

Comments

Zoom Technologies

Notizie

Ultime notizie per Zoom Technologies (OTC:ZTNO) Azioni

Notizie

PARTNER/COLLABORATORE

BENZINGA NEL MONDO