Latest news for Lotus Bakeries (OTC:LOTBY) Stock

Lotus Bakeries NV produces and sells snacks under a range of brands. Under the Peijnenburg and Snelle Jelle brands, the company supplies gingerbread in Netherlands. With the Nakd, Trek, Bear, and Urban Fruit brands, the company offers snacks made from natural ingredients and no added sugar. Lotus Bakeries operates in Belgium, with production facilities in Belgium, the Netherlands, France, and Sweden, and a number of sales units in Europe, the U.S., and Asia. The company's product portfolio is divided into six product lines: the caramelized biscuits line, the waffles and galettes line, the cake specialties line, the gingerbread line, the pepparkakor biscuits line, and the Dinosaurs biscuits line. Lotus Bakeries distributes its products through retail, catering, and food services.

LOTUS BAKERIES UNSP/ADR by Lotus Bakeries NV

Lotus Bakeries NV

The return of President Donald Trump to the White House could trigger the release of Jeffrey Epstein&#8216;s infamous &#8220;black book,&#8221; as per <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">a Senate confirmation hearing</a>.
What Happened: Sen. Marsha Blackburn (R-Tenn.) brought up the matter during a Senate confirmation hearing for Trump&#8217;s FBI Director-designate Kash Patel. Blackburn is a vocal advocate for the disclosure of documents related to Epstein&#8217;s international human trafficking and sex trafficking ring.
Blackburn urged Patel to collaborate with her on this matter. Patel responded positively, expressing his dedication to combating child sex trafficking in the United States, <a href="https://www.foxnews.com/us/jeffrey-epstein-files-trump-election-could-expose-names-black-book-list">reports</a> Fox News.
Epstein, a millionaire financier, passed away&nbsp;in federal custody in 2019&nbsp;while facing&nbsp;trial on sex trafficking charges.&nbsp;His alleged black book, thought to hold names of possible accomplices&nbsp;in his international sex trafficking&nbsp;ring, has yet to be revealed.
Also Read: <a href="https://www.benzinga.com/news/25/01/43077007/jeffrey-epstein-allegedly-offered-plea-deal-in-exchange-for-trump-info-if-i-can-give-them-something-on-trump-to-get-him-impeached">Jeffrey Epstein Allegedly Offered Plea Deal In Exchange For Trump Info: &#8216;If I Can Give Them Something On Trump To Get Him Impeached&#8217;</a>
In 2020, a federal court mandated the release of thousands of pages of confidential records, unveiling&nbsp;nearly 200 names, many of&nbsp;whom are high-profile individuals. Despite this, the records remain inaccessible to the public.
Blackburn reiterated last week that&nbsp;&#8220;Americans deserve to know exactly&nbsp;who was affiliated with this&nbsp;network.&#8221; She expressed her eagerness to work with Patel to make Epstein&#8217;s flight logs and black book public.
Why It Matters: The release of Epstein&#8217;s &#8216;black book&#8217; could have significant implications, potentially exposing high-profile individuals involved&nbsp;in his international sex trafficking&nbsp;ring. This could lead to further investigations and legal actions against those implicated. 
The commitment of Patel to work with Blackburn on this issue signals a potential shift in the handling of Epstein&#8217;s case, which remains a topic of national interest and controversy. 
The public&#8217;s access to these records could shed light on the extent of Epstein&#8217;s network and the individuals involved, contributing to transparency and accountability.
Read Next
<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>

News

Politics

Trump's Comeback Could Bring Jeffrey Epstein's Secret 'Black Book' To Light

Crypto analyst who correctly foresaw the Bitcoin crash in May 2021, now foresees a significant downward correction for the cryptocurrenc<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42933328/analyst-warns-of-bitcoins-uncertain-future-amid-key-support-breakdown-it-could-get-ugly">y in the upcoming weeks.</a>
What Happened: The pseudonymous analyst, Dave the Wave, predicts that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) might replicate last year&#8217;s pattern. In 2021, Bitcoin reached new highs around $74,000 before plummeting below $50,000. He anticipates the most severe BTC consolidation to take place by the end of March.
According to Dave the Wave&#8217;s chart, if BTC mimics last year&#8217;s price action, it could correct to the 0.382 Fibonacci level, which is approximately $81,000. The Fibonacci extension tool is often used by traders to pinpoint potential entry and exit points based on the Fibonacci ratio.
<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">End of March should see the worst of the <a href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw">#btc</a> consolidation based on this fractal.. Those disappointed not to have seen an immediate parabola should take solace in the technically superb nature of the chart.&#x1f9d0; <a href="https://t.co/waqcZoxg7g">pic.twitter.com/waqcZoxg7g</a>
&mdash; dave the wave&#x1f30a;&#x1f313; (@davthewave) <a href="https://twitter.com/davthewave/status/1888064517646725479?ref_src=twsrc%5Etfw">February 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Despite predicting a Bitcoin pullback, the analyst maintains that BTC will eventually rally and could potentially hit as high as $260,000 by the end of the year. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935031/massive-903-million-bitcoin-transfer-stirs-crypto-market-whats-happening">Massive $903 Million Bitcoin Transfer Stirs Crypto Market: What&#8217;s Happening?</a>
<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">Plenty of room on the <a href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw">#btc</a> LGC channel and the monthly MACD&#8230; <a href="https://t.co/JVdGbg23sV">pic.twitter.com/JVdGbg23sV</a>
&mdash; dave the wave&#x1f30a;&#x1f313; (@davthewave) <a href="https://twitter.com/davthewave/status/1887667364118077787?ref_src=twsrc%5Etfw">February 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This prediction is grounded in his logarithmic growth curve (LGC) model and the moving average convergence divergence (MACD) indicator.
The LGC is designed to forecast Bitcoin&#8217;s&nbsp;market cycle highs and lows, disregarding&nbsp;short-term volatility, while the MACD&nbsp;assists traders in identifying trend direction and potential reversal areas. At the&nbsp;time of writing, Bitcoin is&nbsp;trading for $96,909.
Why It Matters: The prediction of a significant downward correction for Bitcoin comes at a time when the cryptocurrency market is already facing volatility. 
The anticipated correction could potentially impact the market, affecting investors and traders alike. The prediction also highlights the importance of tools like the Fibonacci extension and the LGC model in forecasting market trends, which could be crucial for traders in making informed decisions. 
The potential rally predicted by Dave the Wave could also provide a glimmer of hope for investors amidst the anticipated downturn.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/23/01/30615764/analyst-who-predicted-may-2021-crypto-crash-now-says-bitcoin-set-to-surge-to-this-price-by">Analyst Who Predicted May 2021 Crypto Crash Now Says Bitcoin Set To Surge To This Price By 2024</a>

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

Cryptocurrency

$BTC

Analyst Who Nailed 2021 Crypto Collapse Now Says Worst Of Bitcoin Could Come In Next Few Weeks

A Miami-based entrepreneur was pushed to the brink of bankruptcy due to a nine-month-long freeze <a href="https://www.benzinga.com/news/24/12/42716153/massive-data-breach-exposes-millions-of-credit-and-debit-cards-is-your-account-safe">on his $65,000 by Chase Bank.</a>
What Happened: Sean May, a customer of Chase Bank, was unable to access his funds due to a suspected fraud. The funds were from a $65,000 check issued by the US government.
According to a <a href="https://www.wfla.com/8-on-your-side/better-call-behnken/bank-holds-pasco-county-business-irs-refund-check-for-nine-months-amid-fraud-concerns/#:~:text=TAMPA%2C%20Fla.,tax%20refund%20check%20last%20May">report</a>, despite presenting a letter from the Internal Revenue Service (IRS) confirming the legitimacy of the check, JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), operating as Chase Bank, did not lift the freeze on his account.
&#8220;They have cashed the check. They do have the money. It's just not accessible to me, and my account has been closed,&#8221; said May. He also highlighted that this situation played a significant role in his software development company&#8217;s bankruptcy.
Also Read: <a href="https://www.benzinga.com/news/25/02/43424074/td-bank-confirms-data-breach-account-numbers-and-sensitive-customer-info-exposed">TD Bank Confirms Data Breach: Account Numbers and Sensitive Customer Info Exposed</a>
After NBC-affiliate WFLA News initiated inquiries, Chase Bank agreed to release May&#8217;s funds. &#8220;Upon&nbsp;review of this case, we&nbsp;reached out to our customer&nbsp;to apologize for the delay&nbsp;and to let them know&nbsp;we are releasing their funds,&#8221; the bank stated.
May has been informed by the bank that he should&nbsp;expect the check this week.
Why It Matters: This incident underscores the potential risks that businesses face when banking institutions impose sudden freezes on accounts. 
In this case, the prolonged freeze led to significant financial distress for the business owner, ultimately pushing his company into bankruptcy. 
The incident also raises questions about the bank&#8217;s fraud detection and customer service processes, and whether they adequately protect the interests of their customers.
Read Next
<a href="https://www.benzinga.com/markets/25/01/43219362/bank-of-americas-sensitive-customer-data-compromised-in-third-party-hack-is-your-account-safe" target="_blank" rel="noreferrer noopener">Bank of America's Sensitive Customer Data Compromised in Third-Party Hack – Is Your Account Safe?</a>

Global

JPMorgan Chase Bank Account Freeze Pushes Miami Business Owner to Bankruptcy

The U.S. State Department has approved two major arms sales to Israel, valued at a total of $7.4 billion, <a href="https://www.benzinga.com/news/global/25/01/43216186/hamas-releases-four-female-israeli-soldiers-after-more-than-a-year-in-captivity" target="_blank" rel="noreferrer noopener">reinforcing the country&#8217;s defense capabilities</a>.
The <a target="_blank" href="https://www.dsca.mil/sites/default/files/mas/Press%20Release%20-%20Israel%2024-104%20CN.pdf" rel="noreferrer noopener">proposed deals</a>, valued at $6.75 billion and $660 million, include munitions, guidance kits, fuzes, and Hellfire missiles, aimed at bolstering Israel&#8217;s defense systems against regional threats, according to a press release.
The first sale, garnering $6.75 billion, involves the provision of a range of munitions and support equipment. Israel has requested to purchase over 2,100 GBU-39/B Small Diameter Bombs (SDB-I), 2,800 MK 82 General Purpose bomb bodies, 13,000 Joint Direct Attack Munition (JDAM) guidance kits, 3,475 JDAM guidance kits for different bomb bodies, and 17,475 FMU-152A/B fuzes.
Additionally, non-MDE items such as bomb components, munitions support, and logistical services will also be included.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/social-media/25/02/43577521/mark-zuckerbergs-meta-to-begin-mass-layoffs-next-week-speeds-up-hiring-of-machine-learning-engineers-report" rel="noreferrer noopener">Mark Zuckerberg&#8217;s Meta To Begin Mass Layoffs Next Week, Speeds Up Hiring Of Machine Learning Engineers: Report</a>
This deal will significantly enhance Israel&#8217;s ability to defend itself from both current and future threats.
The State Department emphasized that the equipment is already compatible with Israel&#8217;s current military infrastructure and will not disrupt the regional military balance.
Deliveries are expected to begin in 2025, with Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), ATK Tactical Systems, L3Harris Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>), and McAlester Army Ammunition Plant being among the key suppliers for this transaction.
The <a target="_blank" href="https://www.dsca.mil/sites/default/files/mas/Press%20Release%20-%20Israel%2024-13%20CN.pdf" rel="noreferrer noopener">second approval</a>, valued at $660 million, is for the sale of 3,000 AGM-114 Hellfire missiles, a key air-to-ground weapon used to engage and destroy a variety of targets.
This will allow Israel to enhance its aerial defense capabilities, particularly in safeguarding its borders and critical infrastructure.
The missiles will be delivered in various configurations, depending on Israel&#8217;s needs, and will be supported by U.S. engineering, training, and technical assistance services.
Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), based in Troy, Alabama, will be the primary contractor for this sale, with deliveries slated to begin in 2028.
Both sales are designed to ensure that Israel can maintain a high level of preparedness in the face of evolving regional threats.
The U.S. government reiterated its commitment to Israel&#8217;s security, emphasizing that the proposed sales are in line with U.S. national interests and will not affect the overall military balance in the region. Importantly, these deals will also enhance interoperability between Israeli forces and U.S. military operations, further strengthening their long-standing defense cooperation.
&#8220;There will be no adverse impact on U.S. defense readiness as a result of this proposed sale,&#8221; the government said in a release.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43482587/elon-musk-appointed-as-special-government-employee-amid-doge-department-push-cant-do-anyth" target="_blank" rel="noreferrer noopener">Elon Musk Appointed As ‘Special Government Employee' Amid DOGE Department Push: ‘Can't Do Anything Without Our Approval,' Says Trump</a></li>
</ul>
Image: Shutterstock

Equities

Markets

Movers

General

US Greenlights $7.4 Billion Military Deal With Israel: Key Weapons Deals Explained

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly gearing up <a href="https://www.benzinga.com/tech/25/01/42935529/apples-slimmest-iphone-yet-the-iphone-17-air-expected-this-fall">to launch a revamped iPhone SE.</a>
Bloomberg columnist Mark Gurman in his <a href="https://www.bloomberg.com/news/newsletters/2025-02-09/apple-s-new-iphone-se-will-start-most-pivotal-year-in-the-iphone-s-history?sref=TBDibEcD">latest </a>weekly "Power On" has revealed that despite its market leadership in the US, the iPhone is grappling with challenges such as import tariffs, regulatory scrutiny, and intense competition, especially in China. 
The iPhone&#8217;s technology is also trailing behind competitors like Gemini, which powers Google&#8217;s Pixel phones and Samsung Electronics Co.&#8217;s latest devices.
Over the holiday season, Apple&#8217;s iPhone sales saw a 1% dip, failing to meet Wall Street&#8217;s expectations.&nbsp;In China, where Apple Intelligence&nbsp;is yet to be available, the total revenue dropped by 11%. Despite these hurdles, the iPhone still accounts for 56% of Apple&#8217;s total sales.
During the company&#8217;s last earnings call, CEO Tim Cook hinted at more developments for the iPhone. John Ternus, the executive in charge of new iPhone hardware, also assured that the forthcoming models would be the most ambitious in the product&#8217;s history, Gurman mentioned. 
Also Read: <a href="https://www.benzinga.com/tech/25/02/43424187/apples-struggles-in-ai-and-ar-indicate-a-loss-in-product-edge">Apple&#8217;s Struggles in AI and AR Indicate a Loss in Product Edge</a>
The new iPhone SE, which is expected to be announced this week, will come with a larger screen, an in-house cellular modem chip, the A18 processor, and Apple Intelligence. 
It is anticipated to be priced around $500. The flagship iPhones, the iPhone 17 and 17 Pro, with updated designs, will be unveiled later this year.
While Apple is also increasing its hiring for home robotics work and planning&nbsp;to open new retail stores, the company&#8217;s focus remains on the iPhone, which is expected to remain crucial for several more years.
Why It Matters: The launch of the new iPhone SE comes at a critical time for Apple, as it navigates a challenging landscape marked by regulatory scrutiny, import tariffs, and fierce competition. 
The revamped iPhone SE, with its advanced features and competitive pricing, could potentially help Apple regain its market share and boost its revenues, especially in key markets like China. 
Furthermore, the continued focus on the iPhone underlines its importance to Apple&#8217;s overall business strategy, even as it explores new avenues like home robotics.
Read Next
<a href="https://www.benzinga.com/tech/25/01/43219433/apples-augmented-reality-gamble-faces-challenges-as-rivals-surge-ahead-in-ai-and-design" target="_blank" rel="noreferrer noopener">Apple's Augmented Reality Gamble Faces Challenges As Rivals Surge Ahead In AI and Design</a>

Tech

AAPL

Apple's Revamped iPhone SE To Kickstart Pivotal Year Amid Challenges

The late billionaire investor Charlie Munger imparted his wisdom on evading life and business pitfalls, highlighting the significance of sound financial habits, integrity, and the avoidance of <a href="https://www.benzinga.com/markets/25/01/42935637/heres-how-charlie-mungers-final-investment-move-doubled-his-money-reveals-his-close-friend-li-lu">detrimental people and activities.</a>
What Happened: Munger dispensed his insights during a Q&amp;A <a href="https://buffett.cnbc.com/video/2023/05/08/afternoon-session---2023-meeting.html?&amp;start=2670.6">session </a>at Berkshire Hathaway&#8217;s annual shareholders meeting in 2023. Munger, a revered figure in the investing world, was the long-standing business ally of Warren Buffett, the CEO of Berkshire Hathaway.
In Munger&#8217;s view, individuals&nbsp;are &#8220;almost certain to succeed&#8221;&nbsp;if they consume less than they accumulate, invest judiciously, persistently learn, and uphold discipline. 
He warned against harmful individuals, particularly&nbsp;those &#8220;who are trying to&nbsp;deceive&nbsp;you or lie to you&nbsp;or aren&#8217;t reliable in meeting&nbsp;their commitments.&#8221;
Munger&#8217;s counsel is in line with his earlier remarks in 2019 about leading&nbsp;a &#8220;long and happy life.&#8221;&nbsp;He underscored the importance of maintaining a cheerful demeanor despite adversities and steering clear of traits linked with toxic people, such as envy or resentment.
Also Read: <a href="https://www.benzinga.com/news/25/01/43219503/charlie-mungers-three-investment-lessons-buy-wonderful-businesses-at-fair-prices-big-money-isnt-in-buying-or-selling-its-in-waiting-good-businesses-are-ethical-businesses">Charlie Munger&#8217;s Three Investment Lessons: &#8216;Buy Wonderful Businesses At Fair Prices, Big Money Isn&#8217;t In Buying Or Selling-It&#8217;s In Waiting, Good Businesses Are Ethical Businesses&#8217;</a>
&#8220;As for avoiding toxic people, look out for those who are trying to fool you or lie to you or aren't reliable in meeting their commitments. A great lesson of life is get them the hell out of your life and do it fast," he added. 
His long-standing business associate, Warren Buffett, also expressed his views on circumventing life&#8217;s significant errors by being an upright individual who acts with integrity. Buffett&#8217;s guidance was to&nbsp;&#8220;Write your obituary and figure&nbsp;out how to live up&nbsp;to it.&#8221;
Why It Matters: Munger&#8217;s advice carries weight due to his successful career and reputation for wisdom. His emphasis on good financial habits, integrity, and avoiding toxic people and activities provides a roadmap for success, not just in business, but in life. 
His long-time business partner, Warren Buffett, echoes these sentiments, further validating their importance. 
The advice of these two titans of investing serves as a guide for individuals seeking to navigate life&#8217;s challenges and achieve success.
Read Next
<a href="https://www.benzinga.com/news/25/01/43077104/charlie-mungers-3-rules-for-success-dont-sell-what-you-wouldnt-buy-work-for-those-you-admire-partner-with-people-you-enjoy" target="_blank" rel="noreferrer noopener">Charlie Munger's 3 Rules For Success: ‘Don't Sell What You Wouldn't Buy, Work For Those You Admire, Partner With People You Enjoy'</a>
Image: Shutterstock

Success Stories

Personal Finance

Charlie Munger's Four Life Lessons: 'Consume Less Than You Accumulate, Invest Judiciously, Persistently Learn, and Uphold Discipline'

Microsoft co-founder Bill Gates attributes his extraordinary achievements <a href="https://www.benzinga.com/news/24/11/41869269/bill-gates-ready-to-give-up-62-of-his-fortune-advocates-for-wealth-tax">to his relentless curiosity.</a>
What Happened: In an interview with CNBC, Gates disclosed that his &#8220;insatiable, fervent sense of curiosity&#8221; has been a pivotal element in his success story. 
From his early years, Gates devoted countless hours to reading about diverse subjects, such as computer science, history, and climate change. His published <a href="https://www.gatesnotes.com/home/home-page-topic/reader/my-first-memoir-source-code">memoir</a>, &#8220;Source Code,&#8221; offers a deeper look into his pursuit of knowledge.
Gates, as a young boy, endeavored to read the entire World Book Encyclopedia collection owned by his family to quench his thirst for knowledge. 
Throughout his life, he has sought comprehensive knowledge, which he believes has been crucial to his success. His curiosity went beyond his primary interests in math and computer science, prompting him to enroll in additional courses&nbsp;like criminal justice and British&nbsp;history during his Harvard years.
"I put a lot of energy into trying to learn things. I got to use almost all of the knowledge that I acquired, and I was glad that I had the curiosity to take all of those different courses. So, I'm always encouraging people to learn a broad set of things," Gates <a href="https://www.cnbc.com/2025/02/05/bill-gates-rampant-curiosity-sets-me-apart-helped-me-succeed.html">told </a>the outlet. 
Also Read: <a href="https://www.benzinga.com/tech/25/02/43423004/bill-gates-early-departure-from-harvard-not-surprising-says-former-professor-i-just-wish-id-invested-in-him">Bill Gates&#8217; Early Departure From Harvard: Not Surprising, Says Former Professor: &#8216;I Just Wish I&#8217;d Invested In Him&#8217;</a>
Even after stepping down as Microsoft&#8217;s CEO in 2000, Gates continued his quest for knowledge in various domains, which later inspired his philanthropic endeavors, reports the outlet. 
He appreciates growing up in a time before smartphones and social media, but also recognizes the abundance of information available to today&#8217;s generation.
"It's easier to learn things today. The stuff that's online is just so miraculous. I used to have to go and dig around the library and find different books," he added. 
Gates&#8217; deep-seated curiosity was nurtured by his family, who encouraged him to ask questions and engage in intellectual conversations. He acknowledges this support as a catalyst for his innate propensity towards learning.
Why It Matters: Gates&#8217; story underscores the importance of curiosity as a driving force for success. His wide-ranging interests and continuous learning have not only contributed to his professional achievements but have also shaped his philanthropic initiatives. 
His journey offers valuable insights for the current generation, emphasizing the importance of broad knowledge and lifelong learning in a rapidly changing world.
Read Next
<a href="https://www.benzinga.com/tech/25/01/43218782/bill-gates-i-would-probably-be-diagnosed-on-the-autism-spectrum-if-growing-up-today" target="_blank" rel="noreferrer noopener">Bill Gates: ‘I Would Probably Be Diagnosed on the Autism Spectrum' if Growing Up Today</a>
Image: Shutterstock

Bill Gates Says This Simple Trait Is the Secret to His Success

Last week the Donald Trump administration decided to pause the 25% tariffs on Mexico and Canada. In another development, Elon Musk is also moving aggressively to shut down the <a href="https://www.benzinga.com/news/24/12/42635765/mary-trumps-warning-donald-trumps-second-term-already-is-more-dangerous-than-the-first">U.S. Agency for International Development (USAID)</a>.
What Happened: In a recent blog <a href="https://www.marytrump.org/p/mary-trump-live-two-weeks-of-chaos">post</a>, Mary Trump, a clinical psychologist, shed light on the implications of the recent developments in the U.S. political arena.
&#8220;Four years ago, in the lead-up to the 2020 election, I and many others warned that American democracy was on a knife's edge. I also said that if Donald ever returned to power, it would mark the&nbsp;end&nbsp;of the American experiment. I desperately wanted to be wrong. But here we are,&#8221; she wrote. 
Musk&nbsp;is keen on shutting down USAID, a humanitarian assistance organization that has been operational since the Kennedy administration. Secretary of State&nbsp;Marco Rubio&nbsp;has been&nbsp;appointed as acting director of&nbsp;USAID, a move seen as an attempt to dismantle the agency&nbsp;by placing it under the&nbsp;direct control of the State Department.
&#8220;Donald's administration is trying to dismantle USAID by placing it under the State Department's direct control.&nbsp;Rubio has long criticized the agency for its lack of responsiveness to the State Department's directives. Now, he's in charge of gutting it,&#8221; she further added in the post. 
Also Read: <a href="https://www.benzinga.com/news/25/01/42935659/mary-trump-blasts-uncle-over-wildfire-comments-if-donald-trump-can-profit-from-your-death-he-will-facilitate-it">Mary Trump Blasts Uncle Over Wildfire Comments: &#8216;If Donald Trump Can Profit From Your Death, He Will Facilitate It&#8217;</a>
Democrats, however, are pushing back. Representative Jamie Raskin criticized the move, stating that the shutdown of USAID evaluations is about &#8220;termination and obliteration of the&nbsp;major foreign aid programs of&nbsp;the United States of America.&#8221;
The impact of USAID&#8217;s potential shutdown is already being felt, with&nbsp;programs for refugees, HIV/AIDS treatment,&nbsp;and war-torn regions like Ukraine&nbsp;and Syria now at risk.
Trump&nbsp;also signed an executive order&nbsp;directing the Treasury to create&nbsp;an &#8220;American Sovereign Wealth Fund&#8221;, a&nbsp;move that would allow the&nbsp;U.S. government to profit from&nbsp;foreign companies like TikTok.
&#8220;We knew this was coming. The&nbsp;relentless power grabs, the disregard for law, the erosion of democratic institutions—all of it. Donald isn't just destroying democracy; he's handing&nbsp;unchecked power&nbsp;to people like&nbsp;Elon Musk,&nbsp;a billionaire who now controls&nbsp;our Treasury, our foreign aid, and likely soon our government's investment portfolio. This is not normal.&#8221; Mary Trump concluded. 
Why It Matters: The tariff pause and the potential shutdown of USAID are significant developments that could have far-reaching implications. 
The tariff pause could potentially avert a trade war, while the shutdown of USAID could disrupt humanitarian aid programs worldwide. The creation of an &#8220;American Sovereign Wealth Fund&#8221; could also change the dynamics of the U.S. government&#8217;s relationship with foreign companies. 
These developments warrant close monitoring in the coming weeks.
Read Next
<a href="https://www.benzinga.com/news/24/12/42713956/mary-trump-reveals-the-worst-christmas-gift-she-ever-received-from-uncle-donald-trump" target="_blank" rel="noreferrer noopener">Mary Trump Reveals the Worst Christmas Gift She Ever Received from Uncle Donald Trump</a>

Mary Trump Slams Uncle, Says President 'Isn't Just Destroying Democracy, He's Handing Unchecked Power to People Like Elon Musk'

Elon Musk, known for his unconventional leadership style, is reportedly causing some unrest within the traditionally steady federal workforce. 
What Happened: Musk&#8217;s swift decision-making and high expectations, which have been instrumental in his companies like Tesla Inc., SpaceX, and Twitter, are now being applied to his role as a &#8220;special government employee&#8221; at the U.S. DOGE Service.
A report <a href="https://www.washingtonpost.com/technology/2025/02/09/federal-workers-elon-musk-former-staff-warnings/">by </a>The Washington Post has highlighted that Musk&#8217;s leadership style is causing friction with federal workers who are used to a more stable work environment. 
The report cited an incident where Musk abruptly terminated the employment of a longtime Twitter employee, Eric Frohnhoefer, following a disagreement on the social media platform. 
Also Read: <a href="https://www.benzinga.com/general/social-media/25/02/43579276/elon-musk-plans-reinstatement-of-doge-employee-fired-over-social-media-posts">Elon Musk Plans Reinstatement of DOGE Employee Fired Over Social Media Posts</a>
This incident is seen as a reflection of Musk&#8217;s quick decision-making and his readiness to let go of staff who do not meet his high expectations.
Why It Matters: Musk&#8217;s intense work ethic and boundary-pushing leadership style have been lauded in the electric vehicle industry and space travel. However, his management approach is causing unease among federal workers who value job security and a steadier schedule. 
Despite the friction, many of Musk&#8217;s employees admire his innovative thinking and the financial support he brings to his projects. His leadership style, while unconventional, has been credited with revolutionizing several industries.
As Musk brings his unique management style to Washington, former employees predict his approach will cause further friction within the federal bureaucracy.
This development is significant as it highlights the potential challenges that innovative leaders like Musk may face when they enter traditional work environments, and the possible impact on the workforce.
Read Next
<a href="https://www.benzinga.com/news/25/02/43419885/musks-doge-eyes-treasury-payment-system-sparks-controversy-leading-to-officials-exit" target="_blank" rel="noreferrer noopener">Musk's DOGE Eyes Treasury Payment System, Sparks Controversy Leading To Official's Exit</a>

TSLA

Elon Musk's Former Employees Warn Federal Workers About Long Hours, Firings, And Much More

Stephen George, former vice president and controller of Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>), on Tuesday <a href="https://www.justice.gov/opa/pr/former-vice-president-and-controller-publicly-traded-company-pleads-guilty-insider-trading">pleaded guilty </a>for his role in an insider trading scheme that netted him over $1.6 million in profits.
According to court documents, George was a member of the Finance Department at Celsius Holdings from November 2017 until April 7, 2023 and held roles including vice president and controller. Upon leaving the company, George allegedly emailed himself internal data about the company's first-quarter financial performance and over the following month bought 20,000 shares of Celsius and 300 call options on the stock.&nbsp;
After Celsius reported record quarterly revenue, George sold his shares and call options contracts in May 2023, netting $1.68 million.&nbsp;
George pleaded guilty to one count of securities fraud and faces a maximum penalty of 20 years in prison in sentencing scheduled on April 28.&nbsp;
Read Next: <a href="https://www.benzinga.com/general/social-media/25/02/43535256/palantir-adds-elon-musks-ai-chatbot-grok-to-aip">Palantir Adds Elon Musk&#8217;s AI Chatbot Grok To AIP</a>
Lockheed Martin Pays Nearly $30 To Settle Defective Pricing Allegations&nbsp;
The U.S. Department of Justice<a href="https://www.justice.gov/opa/pr/lockheed-martin-corporation-agrees-settle-false-claims-act-allegations-defective-pricing"> announced on </a>Thursday that Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) agreed to pay $29.74 million to resolve False Claims Act allegations of defective pricing on contracts for F-35 military aircraft.&nbsp;
This payment is in addition to $11.3 million that LMC previously paid to the Department of Defense for the same undisclosed cost and pricing data on some of the same contracts.
According to court documents, between 2013 and 2015, Lockheed Martin inflated pricing proposals it submitted to obtain contracts for the F-35 by failing to provide to DOD's F-35 Joint Program Office accurate, complete and current cost and pricing data during the negotiations leading to the award of five contracts for the production or sustainment of the F-35.&nbsp;
"Those who do business with the government must do so fairly and honestly," said Acting Assistant Attorney General Brett A. Shumate of the Justice Department's Civil Division. "We will pursue contractors that knowingly misuse taxpayer funds."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/02/43512137/ford-shares-skid-after-q4-report-details">Ford Shares Skid After Q4 Report: Details</a></li>
</ul>
Image: Shutterstock

Government

Regulations

Legal

CELH

Financial Crime Weekly: Former Celsius VP Pleads Guilty To Insider Trading, Lockheed Martin Pays Nearly $30 Million Settlement

As the anticipation for Super Bowl LIX builds, an unusual betting trend has surfaced, with bets revolving around pop sensation Taylor Swift gaining popularity.
What Happened: According to a report, sportsbooks are offering a range of bets focused on Taylor Swift, who is expected to attend the game in support of her partner, Kansas City Chiefs player Travis Kelce.
The most favored bet is on whether Swift will join Kendrick Lamar for the halftime show. &#8220;It&nbsp;was originally a 16-1 shot&nbsp;but is now halved to&nbsp;8-1,&#8221; said&nbsp;Jake Ashton, OLBG editor. Swift and Lamar had earlier teamed up for a 2015 remix of Swift&#8217;s hit &#8220;Bad Blood.&#8221;
According to the report <a href="https://nypost.com/2025/02/08/sports/taylor-swift-super-bowl-lix-wager-one-of-the-most-popular-bets-ahead-of-the-big-game/">by </a>New York Post, additional betting&nbsp;specials include whether Swift will&nbsp;be featured&nbsp;on TV during the National&nbsp;Anthem,&nbsp;if the Super Bowl MVP&nbsp;will mention Swift in his speech, or if Swift will share&nbsp;a Kansas City Chiefs bet&nbsp;on her Instagram account, where&nbsp;she has a staggering 282 million followers.
Despite speculation about a possible engagement between Swift and Kelce, bets on Kelce proposing at the game have seen the least interest. 
Also Read: <a href="https://www.benzinga.com/25/02/43563633/exclusive-is-super-bowl-7m-cost-worth-it-61-say-this-while-18-admit-to-looking-up-companies-after-last-years-nfl-championship">EXCLUSIVE: Is Super Bowl $7M Ad Cost Worth It? 61% Say No, 18% Say They Looked Up Companies After Last Year&#8217;s NFL Championship</a>
Other betting specials include odds on whether Swift will appear on TV during the National Anthem (3-1), if the Super Bowl MVP will mention the billionaire singer in his speech (4-1), or if she will share a Kansas City Chiefs bet on her Instagram account, which boasts 282 million followers (50-1).
Amid rumors of the power couple&#8217;s engagement, other betting specials include Kelce dropping to one knee after the game (5-1) or proposing and then announcing his retirement (25-1), reports the outlet. 
Why It Matters: The surge in Taylor Swift-related wagers highlights the increasing intersection of pop culture and sports betting. As sportsbooks seek to attract a wider audience, they are offering more diverse and entertainment-focused bets. 
This trend could potentially reshape the landscape of sports betting, making it more accessible and appealing to a broader demographic, beyond traditional sports enthusiasts.
Read Next
<a href="https://www.benzinga.com/general/entertainment/24/09/40869299/mother-sells-taylor-swift-tickets-over-stars-endorsement-of-kamala-harris-im-gonna-shake-it">Mother Sells Taylor Swift Tickets Over Star&#8217;s Endorsement Of Kamala Harris: &#8216;I&#8217;m Gonna Shake It Off, And I&#8217;m Done With You&#8217;</a>
Image: Shutterstock

Entertainment

Sports

Super Bowl 2025 Sees Surge In Taylor Swift-Related Wagers

President Donald Trump has ruled out the possibility of deporting Prince Harry, the British royal who is currently embroiled in an<a href="https://www.benzinga.com/news/25/01/43073771/chicago-braces-for-massive-immigration-raid-hours-after-donald-trumps-second-inauguration"> immigration lawsuit</a>.
What Happened: The Heritage Foundation, a conservative think tank, has launched a lawsuit alleging that Prince Harry concealed previous illicit drug use, which should have prevented him from receiving a US visa.
Despite these allegations, Trump stated, &#8220;I don&#8217;t want to do that. I&#8217;ll leave him alone. He&#8217;s&nbsp;got enough problems with his&nbsp;wife. She&#8217;s terrible.&#8221; 
According to the report <a href="https://nypost.com/2025/02/08/us-news/trump-rules-out-deporting-prince-harry-takes-jab-at-meghan-markle/">by</a> The New York Post, the President also used this opportunity to praise Prince William, Harry&#8217;s elder brother, whom he had met privately in Paris in December.
Prince Harry and his wife, Meghan Markle, have been vocal about their disapproval of Trump in the past.
Also Read: <a href="https://www.benzinga.com/news/25/01/43077007/jeffrey-epstein-allegedly-offered-plea-deal-in-exchange-for-trump-info-if-i-can-give-them-something-on-trump-to-get-him-impeached">Jeffrey Epstein Allegedly Offered Plea Deal In Exchange For Trump Info: &#8216;If I Can Give Them Something On Trump To Get Him Impeached&#8217;</a>
The Heritage Foundation has used Harry&#8217;s autobiography &#8220;Spare,&#8221; where&nbsp;he admitted to using cocaine,&nbsp;cannabis, and psychedelics, as the foundation for their lawsuit against&nbsp;the Department of Homeland Security&nbsp;to force the release of&nbsp;his US visa records.
The Heritage Foundation claims that Prince Harry was given special&nbsp;treatment by the Biden administration&nbsp;when&nbsp;he and Meghan moved to&nbsp;California in 2020 following their&nbsp;controversial departure from the royal family.
Why It Matters:&nbsp;The ongoing lawsuit and Trump&#8217;s response to it highlight the contentious issue of immigration in the United States. 
The allegations against Prince Harry raise questions about the fairness and transparency of the US visa process. The case also underscores the political tensions between the Trump administration and the Biden administration, as well as the strained relations between the Trumps and the Sussexes. 
This incident is likely to fuel further debates on immigration policies and the treatment of high-profile individuals in the United States.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43579082/think-tank-calls-for-doj-probe-into-trump-meme-coin-over-possible-anti-bribery-violations">Think Tank Calls for DOJ Probe Into TRUMP Meme Coin Over Possible Anti-Bribery Violations</a>
Image: Shutterstock

Trump Won't Deport Prince Harry: 'I'll Leave Him Alone, He's Got Enough Problems With His Wife'

<a href="https://www.wsj.com/business/energy-oil/elliott-takes-stake-in-struggling-oil-giant-bp-815efbd7" title="https://www.wsj.com/business/energy-oil/elliott-takes-stake-in-struggling-oil-giant-bp-815efbd7">https://www.wsj.com/business/energy-oil/elliott-takes-stake-in-struggling-oil-giant-bp-815efbd7</a>

Hedge Funds

Insider Trades

The Wall Street Journal Reported Sunday, Elliott Management Has Built A Stake In BP; Will Push For Transformational Changes

American financier and investor Peter Lynch&nbsp;has imparted his wisdom on investing, laying emphasis on the significance of comprehension, patience, and discipline in the stock market, <a href="https://www.benzinga.com/news/stock-split/25/01/42804677/investment-guru-peter-lynch-if-you-invest-only-in-an-index-youll-never-beat-it-brushing-up-on-stock-picking-skills-is-wise">especially for individuals in their 60s.</a>
What Happened: Lynch, who is celebrated for managing the&nbsp;Fidelity Magellan Fund&nbsp;and delivering an impressive 29.2% annual return, has consistently promoted the concept of value investing. His best-selling books, such as &#8220;One Up on Wall Street,&#8221; and his unique market phrases have cemented his position as an iconic investor.
Lynch&#8217;s counsel to those in their 60s is to invest in areas they comprehend and have faith in, and to demonstrate patience and discipline, particularly during periods of market volatility. 
"Buy only what you understand, believe in, and intend to stick with, even when others are chasing the next miracle," he said in one of his books. 
He further cautions against the perils of responding to daily news headlines, highlighting that these often do not accurately represent a company&#8217;s actual fundamentals.
He also discourages making impulsive decisions based on market advice from television or newspapers. Instead, he advocates waiting for the appropriate price and maintaining confidence in decision-making. Lynch&#8217;s strategy invariably circles back to long-term investment.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/25/01/42935107/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a-lot-of-money" target="_blank" rel="noreferrer noopener">Peter Lynch's Money-Making Advice: ‘When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money'</a>
"I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading ‘Now is the time to buy,&#8221; he cautioned. 
One of his memorable quotes, "ultimately it is the stock market nor even the companies themselves that determine an investor's fate. It is the investor."&nbsp;underscores the significance of individual actions in achieving investment success. 
This involves understanding company fundamentals, having a strategy, and sticking to one&#8217;s judgment.
Also Read: <a href="https://www.benzinga.com/markets/24/12/42499608/investment-guru-peter-lynch-if-you-cant-explain-to-an-11-year-old-in-2-minutes-or-less-why-you-own-t" target="_blank" rel="noreferrer noopener">Investment Guru Peter Lynch: ‘If You Can't Explain To An 11-Year-Old In 2 Minutes Or Less Why You Own The Stock, You Shouldn't Own It'</a>
Why It Matters: Lynch&#8217;s advice comes at a time when market volatility is high and investors, particularly those nearing retirement age, are seeking strategies to safeguard their investments. 
His emphasis on understanding, patience, and discipline, as well as his caution against reacting to daily news headlines, is particularly relevant in today&#8217;s fast-paced, information-overloaded market environment. 
His advice serves as a reminder that successful investing is a long-term game, requiring a solid understanding of company fundamentals and a disciplined approach to decision-making.
Read Next
<a href="https://www.benzinga.com/markets/25/02/43420625/peter-lynchs-stock-tips-theres-no-shame-in-losing-money-on-a-stock-what-is-shameful-is-to-hold-on-to-a-stock-when-fundamentals-are-deteriorating">Peter Lynch&#8217;s Stock Tips: &#8216;There&#8217;s No Shame In Losing Money On A Stock, What Is Shameful Is To Hold On To A Stock When Fundamentals Are Deteriorating&#8217;</a>
Image: Shutterstock

Peter Lynch's Timeless Advice: 'When the Market's Going Down and You Buy Funds Wisely, at Some Point in the Future You Will Be Happy'

President Donald Trump administration is reportedly considering the removal of specific tax benefits for billionaire sports team owners. 
What Happened: The proposal to modify the tax benefits was announced by White House Press Secretary Karoline Leavitt last week. 
The current tax structure allows buyers of sports franchises to amortize the value of their initial investments over a span of 15 years, a benefit that is also extended to other businesses. 
However, sports franchises have the unique privilege of writing off intangible assets such as TV deals and player rosters, which are unlikely to depreciate over time.
The specifics of this proposal are yet to be clarified, and it remains uncertain whether this move will garner support from Congressional Republicans, <a href="https://www.bloomberg.com/news/articles/2025-02-08/trump-taxes-target-sports-owners-these-billionaires-could-be-hit-hardest?srnd=homepage-americas&amp;sref=TBDibEcD">reports </a>Bloomberg. 
Garrett Watson, director of policy analysis at the Tax Foundation, opines that limiting these deductions would have a minimal impact, potentially raising hundreds of millions to a few billion dollars over a decade. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43579082/think-tank-calls-for-doj-probe-into-trump-meme-coin-over-possible-anti-bribery-violations">Think Tank Calls for DOJ Probe Into TRUMP Meme Coin Over Possible Anti-Bribery Violations</a>
On the other hand, Eric Nemeth, a tax partner at Varnum law firm, argues that existing billionaire owners are unlikely to be significantly affected due to the complexity of applying such changes retroactively.
Presently, 42 of the world&#8217;s 500 richest individuals own US sports teams, with a combined worth of $869 billion. This list includes names like&nbsp;Steve Ballmer,&nbsp;Rob Walton,&nbsp;Miriam Adelson&nbsp;and family,&nbsp;Dan Gilbert,&nbsp;Hasso Plattner,&nbsp;Henry Samueli,&nbsp;Philip Anschutz,&nbsp;Stan Kroenke,&nbsp;David Tepper, and&nbsp;Robert Pera.
Why It Matters: The proposed changes to the tax benefits could potentially disrupt the financial dynamics of sports franchises. While the impact is expected to be minimal, it could still lead to a significant increase in tax revenues over the next decade. 
However, the feasibility of implementing these changes retroactively remains a contentious issue, potentially limiting the impact on existing billionaire sports team owners.
<a href="https://www.benzinga.com/markets/25/01/43219264/trumps-tariff-plans-ignite-market-rally-pushing-stocks-to-record-highs">Trump&#8217;s Tariff Plans Ignite Market Rally, Pushing Stocks To Record Highs</a>

Billionaire Sports Owners Could Lose Tax Benefits Under Trump's New Proposal

Ever wondered what it really takes to be <a href="https://www.benzinga.com/personal-finance/24/05/39069576/are-you-rich-heres-the-net-worth-you-need-to-be-poor-middle-class-and-wealthy">among the richest Americans</a>? No, it's not just about having a nice car or a second home by the lake—it's about net worth. And as wealth continues to concentrate at the top, the bar for joining the financial elite keeps getting higher.
So, if you're curious whether you've made it—or how close you are—here's what you need to know about the net worth thresholds for the top 1%, 5%, and 10% in 2025.
<h2 class="wp-block-heading">How Much Wealth Puts You in the Top 1%, 5%, and 10%?</h2>
Don't Miss:
<ul>
<li><a href="https://www.benzinga.com/money/mark-cubans-advice-for-lotto-winners">Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?</a></li>
<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a></li>
</ul>
<h2 class="wp-block-heading">Top 1% Net Worth: The Exclusive Club</h2>
To be <a href="https://www.benzinga.com/personal-finance/25/02/43447772/can-you-guess-what-it-takes-to-be-a-rich-household-heres-the-income-youll-need-to-be-in-the-top-1">part of the top 1%</a> in the U.S., your net worth needs to be between $11.6 million and $13.7 million. That's a big number, but not surprising considering the increasing concentration of wealth. The top 1% collectively hold about 30% of total U.S. wealth, and that number isn't shrinking anytime soon.
<h2 class="wp-block-heading">Top 5% Net Worth: Financially Comfortable (and Then Some)</h2>
If you've amassed a net worth between $1.17 million and $2.7 million, congratulations—you're in the top 5%. This level of wealth provides financial security, access to frequent luxuries, and the ability to make strategic investments that can further grow your fortune.
Trending: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
<h2 class="wp-block-heading">Top 10% Net Worth: A Solid Financial Standing</h2>
To break into the top 10%, you'll need between $970,900 and $1.9 million. This range reflects a strong financial foundation, often built through a combination of homeownership, smart investing, and income growth over time.
Of course, these numbers vary based on factors like age, location, and economic shifts. A million dollars stretches much further in some parts of the country than others, and younger generations face different financial realities than baby boomers did at the same age.
<h2 class="wp-block-heading">How the Wealthy Invest Their Money</h2>
Being rich isn't just about having money—it's about what you do with it. The wealthiest Americans don't just let their cash sit in a savings account; they put it to work through strategic investments.
Trending: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
Wealthy investors also lean heavily into stocks and real estate, but younger generations are diversifying even further. Millennials and Gen Z are three times more likely to invest in alternative assets like crypto, private equity, and venture capital compared to older generations.
According to a report by Synovus, ultra-high-net-worth individuals with $30 million or more in net worth allocate:
<ul>
<li>51% to 54% of their portfolios to alternative investments</li>
<li>32% to real estate </li>
<li>14% to commercial property</li>
<li>A growing share to venture capital, hedge funds, and private equity</li>
</ul>
<h2 class="wp-block-heading">The Generational Wealth Divide</h2>
It's no secret that wealth skews toward older generations. <a href="https://smartasset.com/financial-advisor/wealth-by-generation">SmartAsset reports</a>:
<ul>
<li>Baby boomers control 51.8% of U.S. wealth</li>
<li><a href="https://www.benzinga.com/personal-finance/25/01/43312785/gen-x-is-labeled-the-economys-struggling-middle-child-carrying-significant-financial-burdens-median-retirement-balance-is-only-10000">Gen X holds</a> about 25.8%</li>
<li>Millennials own just 9.4%</li>
</ul>
Much of this divide is due to real estate appreciation, stock market gains, and inherited wealth. But younger investors are adapting, focusing on growth-oriented investments and side businesses to build their own financial futures.
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
<h2 class="wp-block-heading">Need Help Reaching Your Financial Goals?</h2>
Maybe you're already among the top 1%, or maybe you're pushing toward the top 10%. Regardless of where you stand, a solid financial plan can make all the difference.
<a href="https://www.benzinga.com/money/are-you-rich">A financial advisor</a> can help you:
<ul>
<li>Optimize your investments for long-term growth</li>
<li>Diversify your portfolio with smart, strategic assets</li>
<li>Plan for taxes, retirement, and wealth transfer</li>
</ul>
Wealth isn't just about what you earn—it's about how you manage and grow it. With the right strategy, you can take control of your financial future, whether you're aiming for the top 10%, 5%, or even the exclusive 1%.
So, where do you stand? And more importantly—where do you want to go next?
Read Next:
<ul>
<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
<li>How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.</li>
</ul>

Are You Among The Wealthiest? Here's The Net Worth It Takes To Be In the Top 1%, 5%, And 10%

Philadelphia Eagles players Jordan Mailata, Lane Johnson, and former star Jason Kelce have been making music for a cause. 
What Happened: The Eagles trio has been engaged in this distinctive side hustle for the past three years. Under the artist name&nbsp;The Philly Specials, they have been recording and selling Christmas albums for charity during their off-season.
Their versions of beloved Christmas tunes are available on CDs and vinyl records, with price tags ranging from $15 to $75. The earnings from these sales are directed towards various charitable organizations across Philadelphia.
As confirmed by Pennsylvania Gov. Josh Shapiro&#8216;s office, as of December 17, 2024, the group has contributed over $4.5 million to charity. One of their notable collaborations was with the Fund for the School District of Philadelphia, <a href="https://www.cnbc.com/2025/02/07/the-philly-specials-eagles-players-side-hustle-recording-christmas-albums.html">reports</a> CNBC.
In the previous year, they managed to provide a Christmas present&nbsp;to every child in the&nbsp;city, touching approximately 200,000 students in local public and charter schools.
Also Read: <a href="https://www.benzinga.com/news/23/05/32295644/how-a-moms-laundry-side-hustle-helped-her-buy-a-laundromat-now-she-makes-24k-a-month">How A Mom&#8217;s Laundry Side Hustle Helped Her Buy A Laundromat, Now She Makes $24K A Month</a>
Their 2024 release, which dropped on November 22, was announced as their last album on ABC&#8217;s &#8220;Good Morning America&#8221;. The group&#8217;s moniker,&nbsp;The Philly Specials, is a nod to a play that was instrumental in the Eagles&#8217; Super Bowl victory in early 2018.
Despite their professional football obligations, with Mailata and Johnson serving&nbsp;as the Eagles&#8217; two starting&nbsp;offensive tackles and Kelce now an ESPN commentator, their musical side hustle has made a profound impact on the Philadelphia community.
Why It Matters: The philanthropic efforts of these athletes extend beyond their on-field performances, demonstrating their commitment to giving back to their community. Their initiative not only brings joy through music but also provides tangible support to those in need. 
The success of their charity endeavor underscores the potential of athletes to leverage their fame for social good. 
The legacy of&nbsp;The Philly Specials&nbsp;will continue to resonate in Philadelphia, even though their musical journey has come to an end.
Read Next
<a href="https://www.benzinga.com/news/24/01/36709641/maximize-your-earnings-by-exploring-these-high-paying-side-hustles-of-2024">Maximize Your Earnings By Exploring These High-paying Side Hustles</a>
Image: Shutterstock

Eagles Trio Harmonizes for Charity: 'A Philly Special Christmas Party' Raises $2.5 Million in Side Hustle

In an episode of the popular TV show &#8220;Shark Tank&#8221;, teenage entrepreneur Tania Speaks managed to secure a $400,000 investment from <a href="https://www.benzinga.com/news/25/01/43077063/mark-cubans-success-mantra-if-youve-got-nothing-its-the-perfect-time-to-start-a-business">billionaire investor Mark Cuban.</a>
What Happened: Speaks, the founder of Tania Speaks Organic Beauty, delivered a compelling pitch on a 2024 episode of "Shark Tank." Her company focuses on skincare products, a venture she was inspired to start due to personal experiences with bullying over her thick eyebrows.
As per the report <a href="https://www.cnbc.com/2022/01/24/shark-tank-why-mark-cuban-invested-in-tania-speaks-organic-skincare.html">by </a>CNBC, Speaks wanted $400,000 for a 10% investment in her company, and Cuban offered the money for a 20% stake. He also asked her to meet his daughters to discuss entrepreneurship. 
"I want my daughters to meet you, and I want them to learn from you. Maybe you'll even learn something from them," Cuban said. 
Tania agreed to meet them but countered with a 15% stake for the same amount. The celebrity investor accepted her offer.
Also Read: <a href="https://www.benzinga.com/news/25/01/43245984/cuban-on-musk-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-for-when-its-truly-deser">Cuban on Musk: &#8216;I Have No Problem Throwing Elon Under the Bus, but I&#8217;ll Save It for When It&#8217;s Truly Deserved&#8217;</a>
This emotional exchange underscored Cuban&#8217;s faith in Speaks as an entrepreneur, even though he doesn&#8217;t have prior experience in the skincare industry.
Cuban also said, "I saw my daughters — and my son, for that matter — in her. If I can get her to connect to my kids, that's more important than the money involved."
Why It Matters: This isn&#8217;t the first time Cuban has made an investment based on emotional factors. He previously invested in 15-year-old Trey Brown&#8217;s clothing brand Spergo, showcasing his dedication to nurturing young entrepreneurs.
These investments highlight Cuban&#8217;s belief in the potential of young entrepreneurs and his willingness to support them, even in industries where he lacks experience. 
This could inspire more young entrepreneurs to step forward and pursue their dreams, knowing that there are successful businesspeople like Cuban who are willing to invest in their potential.
Read Next
<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">Mark Cuban Suggests 20-Minute Daily Habit to &#8216;Destabilize&#8217; Musk, Zuckerberg, and Even President Trump</a>

Mark Cuban's $400K Bet On Teen Founder Comes With An Unexpected Invitation: 'I Want My Daughters To Meet You, And Learn From You'

When it comes to pulling off jaw-dropping stunts, there's no one quite like MrBeast. Known for his <a href="https://www.benzinga.com/tech/25/01/43325058/mrbeasts-net-worth-hits-1-billion-but-in-2023-he-promised-to-give-away-all-his-money-what-drives-the-youtubers-philanthropy">massive challenges and philanthropy</a>, MrBeast (aka Jimmy Donaldson) is constantly setting new records and pushing the limits of what's possible. But during a recent <a href="https://www.youtube.com/watch?v=uLJ9oXEV3RY">interview</a> on The Big Podcast with Shaq, he floated the idea of breaking Shaquille O&#8217;Neal's legendary $70,000 Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) shopping spree record. However, there's a twist—Shaq himself has already tried and failed to do the same thing.
<h2 class="wp-block-heading">The Record-Breaking Walmart Spree</h2>
Shaq's Walmart spree has become the stuff of legends. As the story goes, when Shaq moved to Phoenix from Miami, he arrived at his new apartment late at night to find it completely empty. He was not one to wait around for things to happen, so at 2 a.m., he went to Walmart to get everything he needed, including laptops, underwear, and sheets. In the end, Shaq's cart was packed with $70,000 worth of items, making it the &#8220;biggest purchase in Walmart history.&#8221;
Don't Miss:
<ul>
<li>Built on the trusted network of Fortune 500 companies, <a href="https://www.benzinga.com/money/web3-enabler-the-most-boring-blockchain-company-partners-with-salesforce">this blockchain company partners with Salesforce to uproot lengthy and expensive B2B transactions, and you can invest with just $100.</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>
But when it came time to pay, <a href="https://www.benzinga.com/personal-finance/24/09/40817545/i-know-im-not-broke-shaquille-oneals-card-was-declined-at-walmart-after-attempting-the-biggest-p">Shaq's credit card was declined</a>—not once, but twice. This left the basketball star a bit puzzled, thinking, "I know I'm not broke!" Eventually, he received a call from American Express security, who suspected fraud due to the massive Walmart charge. Shaq gave them his famous response when they questioned why he was spending $70,000 at the store: &#8220;Because I&#8217;m Shaq.&#8221;
<h2 class="wp-block-heading">MrBeast's Ambitious Idea</h2>
Fast forward to today, and MrBeast, always looking for new ways to outdo himself, decided that breaking Shaq's record would make for an incredible video. His plan was simple: walk into a Walmart, buy every single item on the shelves, and see how much it all costs. It's an idea that could easily go viral—and one that would no doubt rack up millions of views. &#8220;I want to walk into a Walmart and buy every single item in the store,&#8221; he shared.
Trending: Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-nancy-pelosi">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000</a>
But when Shaq heard about his plan, the NBA legend had some advice for him. Apparently, Shaq had already tried to pull off a similar &#8220;stunt&#8221; years ago. He recalled an experience after Hurricane Katrina in 2005, when he tried to buy everything in a Walmart in Baton Route, Louisiana. Despite being a superstar, the store turned him down. The reason? Walmart simply wouldn't let him do it without giving him a reason. Shaq said, "They won't let you do that."
&#8220;I&#8217;m working with them to potentially find a Walmart that&#8217;s about to shut down. We&#8217;re trying to figure it out. I think I might be able to pull it off this year that I think would be crazy,&#8221; Donaldson said excitedly. He continued, &#8220;Imagine I just walk into Walmart, I pull up with 30 18 wheelers and we buy everything on the shelves. The bill might be like $7 million or something ridiculous and then donate it all to charity.&#8221;
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 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>
<h2 class="wp-block-heading">Why Walmart Won't Let You Buy Everything</h2>
While it might seem odd that Walmart wouldn't allow Shaq to make such a big purchase, there are some logistical reasons behind it. First of all, if someone were to buy everything in the store, it could create massive disruptions, especially with restocking. As Donaldson pointed out, there's a concern of customers not being able to buy what they need.&nbsp;
While it seems like MrBeast is set on breaking Shaq's Walmart record, Shaq's experience shows that it's not as easy as it sounds.
Read Next:
<ul>
<li>According to Juniper Research, the total value of B2B cross-border payments stored on the blockchain is projected to exceed $4.4 trillion — <a href="https://www.benzinga.com/money/web3-enabler-future-of-enterprise-transactions">Join the first company to bring blockchain payments to Salesforce early with just $100.</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>

MrBeast Plans To Buy Out A Whole Walmart Store To Break Shaq's $70k Record, But Shaq Tells Him He Tried During Katrina—'They Won't Let You'

This Sunday at Super Bowl LIX, football fans are eagerly awaiting a high-stakes matchup between the Philadelphia Eagles and the Kansas City Chiefs. This follows an intense 18-week regular season and a challenging playoff run.
What Happened: The Eagles and Chiefs are preparing for the ultimate face-off this Sunday, with the winner taking home the prestigious Lombardi Trophy. 
As per a report <a href="https://www.cbsnews.com/news/where-to-watch-super-bowl-2025/">by</a> CBS News, the game will be broadcasted nationally on Fox. In a first, Tubi, Fox&#8217;s free streaming platform, will also live-stream the Super Bowl. Fubo, a flexible streaming service that doesn&#8217;t require long-term commitments, will also host the game.
Spanish-speaking viewers can tune into Fox Deportes and Telemundo for coverage.&nbsp;The game will also be&nbsp;accessible via Sling TV, which offers a package that includes Fox, NBC, ABC, and ESPN.&nbsp;Fox&#8217;s free streaming service, Tubi,&nbsp;will live-stream the game without any subscription fees.
Also Read: <a href="https://www.benzinga.com/general/sports/25/02/43578947/nike-returns-to-super-bowl-advertising-to-revive-sales-after-27-year-gap">Nike Returns to Super Bowl Advertising To Revive Sales After 27-Year Gap</a>
The game is scheduled to commence at 6:30 p.m. ET, with pre-game coverage starting at 1 p.m. ET. The halftime show, featuring Kendrick Lamar and special guest SZA, is expected to kick off between 8 p.m. to 8:30 p.m. ET.
Viewers are recommended to verify Fox&#8217;s availability on their chosen streaming platform and look&nbsp;for any free trial offers&nbsp;if they are&nbsp;signing up for a new&nbsp;subscription.
Why It Matters: The Super Bowl is not just a game, but a major event that draws millions of viewers and bettors worldwide. 
The predictions and betting odds provide insights into the game&#8217;s potential outcomes and offer opportunities for fans to engage more deeply with the event. 
The expert picks and novelty bets add an extra layer of excitement, making Super Bowl LIX a must-watch event for sports enthusiasts.
Read Next
<a href="https://www.benzinga.com/general/sports/25/02/43566535/super-bowl-indicator-why-wall-street-is-rooting-for-this-team-in-chiefs-vs-eagles-matchup">Super Bowl Indicator: Why Wall Street Is Rooting For This Team In Chiefs Vs. Eagles Matchup</a>
Image: Shutterstock

Comments

Lotus Bakeries

News

Latest news for Lotus Bakeries (OTC:LOTBY) Stock

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga