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Actress&nbsp;Scarlett Johansson&nbsp;has hired &#8220;legal counsel&#8221; against&nbsp;OpenAI&nbsp;for allegedly replicating her voice <a href="https://www.benzinga.com/news/23/07/33228449/hollywood-wants-to-use-ai-replicas-of-actors-for-eternity-and-give-them-just-one-days-pay">using artificial intelligence technology</a>.
What Happened: On Monday, Johansson said that she was &#8220;forced to hire&#8221; legal counsel to address the use of her voice by OpenAI&#8217;s chatbot. The actress revealed that she was approached by OpenAI CEO&nbsp;Sam Altman in September to lend her voice to the company&#8217;s AI-powered chatbot, ChatGPT. 
However, she declined the offer &#8220;after much consideration and for personal reasons,&#8221; <a href="https://www.bloomberg.com/news/articles/2024-05-20/scarlett-johansson-hired-lawyers-to-push-back-on-openai-voice?srnd=technology-vp">reported</a> Bloomberg.
&#8220;He told me that he felt that by my voicing the system, I could bridge the gap between tech companies and creatives and help consumers to feel comfortable with the seismic shift concerning humans and AI,&#8221; she said.
<a href="https://in.benzinga.com/content/38808464/you-can-use-chatgpt-4os-new-voice-feature-for-free-right-now-heres-how">OpenAI unveiled new audio tools</a> last week, accompanied by demonstrations that included a voice called, Sky, which Johansson claims sounds &#8220;eerily similar&#8221; to her own. The company has since replaced Sky with a different voice, Juniper. 
&#8220;When I heard the released demo, I was shocked, angered and in disbelief that Mr. Altman would pursue a voice that sounded so eerily similar to mine,&#8221; Johansson said in the statement.
See Also: <a href="https://www.benzinga.com/news/24/05/38909683/apples-wwdc-announcements-may-not-be-as-impressive-as-openai-google-says-gurman-they-can-improve-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s WWDC Announcements May Not Be As &#8216;Impressive&#8217; As OpenAI, Google, Says Gurman: &#8216;They Can Improve Their AI Technology Quickly And Keep Wowing Users&#8217;</a>
Why It Matters: In a blog post released on Sunday, OpenAI denied intentionally mimicking Johansson&#8217;s voice, stating that Sky&#8217;s voice belongs to a different actress using her natural speaking voice.
&#8220;We believe that AI voices should not deliberately mimic a celebrity&#8217;s distinctive voice—Sky's voice is not an imitation of Scarlett Johansson but belongs to a different professional actress using her own natural speaking voice. To protect their privacy, we cannot share the names of our voice talents,&#8221; the company stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Johansson is known for portraying characters like the Marvel superhero Black Widow. She also played the role of an AI virtual assistant in the 2013 film &#8220;Her.&#8221; The link between OpenAI and the movie was highlighted further by Altman, when he posted the word &#8220;her&#8221; on X, formerly Twitter, shortly after the release of the <a href="https://www.benzinga.com/news/24/05/38806086/openai-tries-to-steal-googles-thunder-a-day-before-search-giants-event-unveils-gpt-4o-a-chatgpt-vers">company&#8217;s newest AI model</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">her
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1790075827666796666?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
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The use of AI to replicate celebrity voices has been a growing concern. In 2023, venture capitalist&nbsp;Tim Draper&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35342508/tim-draper-believes-ai-is-getting-smarter-warns-of-crypto-scammers-mimicking-his-voice">warned of scammers using AI to mimic his voice</a>&nbsp;for fraudulent activities in the cryptocurrency space. This issue has also affected the music industry, with artists like&nbsp;Bad Bunny&nbsp;expressing outrage over&nbsp;<a href="https://www.benzinga.com/news/23/12/36105714/bad-bunnys-outrage-against-ai-imitation-rapper-tells-fans-if-you-like-viral-tiktoks-i-dont-want-you">AI imitations of their songs going viral</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38809935/openai-just-dropped-gpt-4o-and-these-10-examples-show-it-could-completely-change-ai-chatbot-game">OpenAI Just Dropped GPT-4o And These 10 Examples Show It Could Completely Change AI Chatbot Game</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

News

Legal

Tech

Media

Scarlett Johansson 'Forced To Hire' Lawyer Over AI Voice Mimicry By Sam Altman-Led OpenAI: 'I Was Shocked, Angered And In Disbelief'

Netflix Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) hit series &#8220;Baby Reindeer&#8221; could face potential legal action. According to Piers Morgan, this could be a &#8220;big problem&#8221; for the streaming platform, Richard Gadd, former comedian on whom the series is based and Clerkenwell Films, the producers. 
What Happened: Gadd has been accused of defaming a real-life individual, Fiona Harvey, who claims to be the inspiration for a character in the show. Harvey has stated her intention to take legal action against Gadd and possibly Netflix, although no formal claims have been filed yet, <a href="https://variety.com/2024/tv/global/baby-reindeer-does-real-martha-have-case-libel-netflix-1236006607/">reported</a> Variety.
&#8220;Baby Reindeer&#8221; provides a stark portrayal of Richard Gadd&#8217;s experiences in his twenties as he pursued success in the entertainment industry. Along the way, he becomes a victim of sexual assault by a prominent figure in the comedy scene and faces harassment from a stalker he encountered during his time working at a pub.
See Also: <a href="https://www.benzinga.com/news/24/05/38906742/amid-mass-exodus-from-openais-ai-safety-team-insider-says-trust-collapsing-bit-by-bit-in-ceo-sam-alt?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid &#8216;Mass Exodus&#8217; From OpenAI&#8217;s AI Safety Team, Insider Says &#8216;Trust Collapsing Bit By Bit&#8217; In CEO Sam Altman: Report</a>
Harvey, who asserts herself as the real stalker, has denied the allegations in an interview done earlier this month with Morgan. She admitted sending him emails but denied stalking him. 
&#8220;It will take some time to gather all of the evidence and prepare a legal claim, but that process is well underway,&#8221; said U.K. lawyer Chris Daw KC, who is not yet officially representing Harvey in a legal capacity. &#8220;We are actively considering defamation, image rights and all other potential claims, arising from the use of Fiona's image in &#8216;Baby Reindeer.'&#8221;
Morgan <a href="https://www.bbc.com/news/world-europe-69034417">spoke</a> with BBC&#8217;s Laura Kuenssberg about the issue and said that issues with &#8220;Baby Reindeer&#8221; is &#8220;a big problem for Netflix, Richard Gadd and Clerkenwell Films.&#8221; He criticized the series for labeling it as a true story, especially after Harvey told him that she hadn&#8217;t been convicted of stalking and denied stalking Gadd.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The potential legal battle comes at a time when &#8220;Baby Reindeer&#8221; has been a major success for Netflix. The series has been a top 10 <a href="https://www.netflix.com/tudum/top10/united-states/tv">most watched</a> TV show on Netflix in the U.S.
Legal experts have weighed in on the potential case, with Callum Galbraith, head of media disputes at Hamlins, stating that if he had a client in Harvey's position, &#8220;You'd immediately be thinking about whether there is a possible libel action that can be brought on the basis that the allegations are untrue and are defamatory insofar as they lower her reputation in the eyes of what other people would think.&#8221; 
However, the truth is a defense, and if the producers can show that the allegations are substantively correct, they would prevail.
Another potential claim is an invasion of privacy under the Human Rights Act and Data Protection Act. To succeed, Harvey would have to show that her &#8220;reasonable expectation of privacy&#8221; was infringed and that her privacy right outweighed Netflix&#8217;s interest in telling Gadd&#8217;s story.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38909116/openais-new-model-gpt-4o-elon-musks-high-regard-for-ilya-sutskever-and-microsofts-china-move-this-we?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s New Model GPT-4o, Elon Musk&#8217;s High Regard For Ilya Sutskever And Microsoft&#8217;s China Move: This Week In Artificial Intelligence</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Entertainment

NFLX

Netflix's 'Baby Reindeer' Could Face Legal Action, Piers Morgan Says It's A 'Big Problem' For The Platform And Richard Gadd

Shares of streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) hit new 52-week highs Monday, which comes as the company recently shared an update on its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38788401/netflix-stock-gets-upfront-optimism-boost-from-key-ad-tier-updates-nfl">ad-supported plan.</a>
An analyst praises the company's recent updates and landing two National Football League games on Christmas.
The Netflix Analyst: Macquarie analyst Tim Nollen has an Outperform rating and a $685 price target on Netflix.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/04/38324337/netflix-q1-earnings-highlights-revenue-beat-eps-beat-9-33-million-paid-subs-added-ad-tier-plan-upda">Netflix Q1 Earnings Highlights: Revenue Beat, EPS Beat, 9.33 Million Paid Subs Added, Ad-Tier Plan Update And More</a>
The Analyst Takeaways: Recent deals with the NFL and advertising partnerships were well received by Nollen.
Nollen said that Netflix made three key announcements that are all linked. The three items were the NFL Christmas Day rights, highlighting The Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Magnite (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>) as programmatic advertising partners, and updating that its ad-supported plan has reached 40 million monthly active users.
"The common theme here is advertising," Nollen said.
The analyst said Netflix is paying $75 million per game to host two Christmas Day games in 2024 and will get at least one game in each of 2025 and 2026.
"These are global rights, to be available to viewers on the ad tier in the 12 countries that have one, as well as on ad-free tiers. As such it looks like a good price compared with the $110 million Peacock paid to exclusively host an NFL playoff game this year."
Nollen said the NFL deal could help Netflix boost its advertising efforts and likely would not have been signed without having an ad-supported plan.
The partnerships with Trade Desk, Google and Magnite were not a surprise to the analyst.
"The company is building ad inventory faster than it can sell, and acknowledges that as it scales, there is a gap that may last for years."
Nollen said the recent moves by Netflix help support a positive view of the stock.
"The company is taking deliberate steps to improve its ad business, building what it can and partnering with the experts on what it cannot, to serve a large engaged audience."
NFLX Price Action: Netflix shares were up 3% to $640.82 on Monday. Netflix stock has traded between $344.73 and $644.37 over the last 52-weeks with the 52-week high set Monday. Netflix stock is up 83% over the last year.
Photo by rafastockbr on Shutterstock
Read Next: <a href="https://www.benzinga.com/general/sports-betting/24/05/38909548/2024-nfl-schedule-unpacked-media-partners-win-taylor-swift-tour-dates-considered-new-betti">2024 NFL Schedule Unpacked: Media Partners Win, Taylor Swift Tour Dates Considered, New Betting Odds And More</a>

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Netflix Stock Hits 52-Weeks High After NFL Deal, Ad-Supported Plan Update: Analyst Says 'The Common Theme Here Is Advertising'

In the ongoing hush money trial involving former President Donald Trump, a defense witness faced the threat of removal due to his contemptuous behavior, as revealed in a court transcript.
What Happened: Judge Juan Merchan cleared the courtroom of reporters before reprimanding Robert Costello, a former federal prosecutor. Costello&#8217;s conduct on the stand, which included muttered comments and continued speaking after objections were upheld, led to the judge&#8217;s warning, <a href="https://apnews.com/article/trump-trial-hush-money-michael-cohen-363a86879b97d2367831b1392f42689d">reported</a> AP News.
Costello, who has a significant role in the case due to his contentious relationship with Trump&#8217;s ex-lawyer Michael Cohen, was warned by Judge Merchan, &#8220;I'm putting you on notice that your conduct is contemptuous. If you try to stare me down one more time, I will remove you from the stand.&#8221;
Trump&#8217;s legal team has asked the judge to halt the case and dismiss the charges after the prosecution finished presenting their evidence. The trial is set to continue on Tuesday with further testimony from Costello.
The hush money trial centers on claims that Trump attempted to suppress damaging stories about himself and then falsified internal business records to conceal it as part of a scheme to unlawfully influence the 2016 presidential election.
See Also: <a href="https://www.benzinga.com/news/24/05/38907930/anthony-scaramucci-labels-donald-trumps-hush-money-trial-as-obligatory-loyalty-test-for-republicans?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Labels Donald Trump&#8217;s Hush Money Trial As &#8216;Obligatory Loyalty Test&#8217; For Republicans, Says &#8216;It&#8217;ll Never Be Enough For Donald Trump&#8217;</a>
Why It Matters: This trial has been a focal point of public interest, with speculation about whether <a href="https://www.benzinga.com/general/politics/24/05/38920782/will-donald-trump-testify-in-hush-money-criminal-trial">Trump himself would testify</a>. The case alleges that Trump falsified business records related to hush money payments made to adult actress Stormy Daniels.
Earlier in the trial, Trump voiced his <a href="https://www.benzinga.com/news/24/05/38805336/trump-slams-judge-defends-actions-following-michael-cohens-testimony-in-hush-money-trial-really-a-ve">discontent with the presiding judge</a> after the testimony of his former lawyer Cohen. Trump&#8217;s criticism of the judge, along with the presence of several elected officials at the courthouse, underscores the high-profile nature of this case and its potential implications for Trump&#8217;s legacy.
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/05/38910720/sickening-trumps-nra-endorsement-slammed-by-birmingham-mayor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Sickening&#8217; — Trump&#8217;s NRA Endorsement Slammed By Birmingham Mayor</a>
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Politics

General

Trump's Hush Money Trial Takes A Dramatic Turn As Judge Threatens To Eject Defense Witness: 'If You Try To Stare Me Down One More Time...'

In the latest development of an ongoing feud, Rep. Marjorie Taylor Greene (R-Ga.) has posted a workout video as a response to Rep. Jasmine Crockett (D-Texas), defending her physical appearance.
What Happened: Greene uploaded a video on X, formerly Twitter, of herself weightlifting, accompanied by Sia&#8217;s 2016 song, &#8220;Unstoppable&#8221;. In the caption, the 49-year-old congresswoman stated, &#8220;Yes my body is built and strong NOT with nips, tucks, plastic, or silicone, but through a healthy lifestyle,&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes my body is built and strong &#x1f4aa; NOT with nips, tucks, plastic, or silicone, but through a healthy lifestyle. Soon turning 50 years old, God willing, I will continue to lift, run, swim, play sports, surf, ski, climb and LIVE this life to the fullest and enjoy every single… <a href="https://t.co/DSkqJEuEnM">pic.twitter.com/DSkqJEuEnM</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1792557434541596962?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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This video comes in the wake of a confrontation with Crockett during a House Oversight Committee hearing last week. The argument included a jab at Greene&#8217;s physique by Crockett, who later initiated a fundraiser selling T-shirts with the phrase: &#8220;Bleach Blonde Bad Built Butch Body,&#8221; <a href="https://thehill.com/homenews/house/4674909-marjorie-taylor-greene-workout-video-response-jasmine-crockett/">reported</a> The Hill.
See Also: <a href="https://www.benzinga.com/news/24/05/38909985/this-important-evidence-could-determine-donald-trumps-fate-in-his-hush-money-trial?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Important Evidence Could Determine Donald Trump&#8217;s Fate In His Hush-Money Trial</a>
Greene, a known enthusiast of the fitness program CrossFit, has previously posted workout videos. In 2020, she shared a clip of herself exercising in her hotel room as a protest against COVID-19 pandemic-related shutdowns.
Why It Matters: This incident is a continuation of a contentious relationship between the two representatives. According to a <a href="https://www.benzinga.com/news/24/05/38907900/marjorie-taylor-greene-accused-of-racist-behavior-by-jasmine-crockett-over-fake-eyelashes-comment">Benzinga report</a>, Crockett accused Greene of racism following a comment about her &#8220;fake eyelashes&#8221;. This led to a heated exchange, with Crockett asserting that Greene&#8217;s remarks were racially charged.
Following this, Crockett announced the <a href="https://www.benzinga.com/news/24/05/38910889/fiery-exchange-with-marjorie-taylor-greene-prompts-jasmine-crockett-to-launch-clapback-t-shirt-colle">launch of a T-shirt line</a> to support Democratic candidates, inspired by her exchange with Greene. The collection includes a T-shirt with the phrase &#8220;Bleach Blonde Bad Built Butch Body&#8221; which appears to have inspired the latest post by Greene.
Photo courtesy: Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Issues Eyebrow-Raising Demand Ahead Of Proposed Debates With Joe Biden: &#8216;I Just Wanna Debate</a>
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 Benzinga Neuro, Edited by 
 
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Marjorie Taylor Greene Posts Workout Video In Comeback Against Crockett's 'Clapback' Apparel: 'My Body Is Built And Strong'

Human rights attorney Amal Clooney revealed her advisory role to the International Criminal Court prosecutor regarding arrest warrants for three Hamas leaders and Israeli Prime Minister Benjamin Netanyahu and his defense ministers.
What Happened: Clooney was part of a panel of legal experts assembled by ICC prosecutor Karim Khan to evaluate evidence for the arrest warrants. The warrants target Yahya Sinwar, head of Hamas in Gaza; Ismail Haniyeh, Hamas&#8217; top political leader; and Mohammed Diab Ibrahim Al-Masri, commander of Hamas&#8217; military wing, <a href="https://thehill.com/policy/international/4675844-amal-clooney-advised-icc-on-arrest-warrants-for-israel-officials-hamas-leaders/">reported</a> The Hill.
Khan stated that these individuals &#8220;bear criminal responsibility&#8221; for war crimes against Israel, including sexual violence, kidnappings, and extermination. Clooney&#8217;s panel unanimously found &#8220;reasonable grounds&#8221; to pursue charges against those named.
Clooney, who is married to U.S. actor George Clooney, emphasized the importance of the rule of law and protecting civilian lives, stating, &#8220;The law that protects civilians in war was developed more than 100 years ago and it applies in every country in the world regardless of the reasons for a conflict.&#8221;
The legal panel also included experts like Theodor Meron, former president of the International Criminal Tribunal for the former Yugoslavia, and Lord Justice Adrian Fulford, a former ICC judge.
A panel of three judges will now decide whether to issue the warrants and proceed with the case, a process that could take several weeks. The request has faced sharp criticism from Hamas leaders, Israeli officials, and U.S. President Joe Biden, who called it an &#8220;outrageous&#8221; decision.
See Also: <a href="https://www.benzinga.com/news/24/05/38907930/anthony-scaramucci-labels-donald-trumps-hush-money-trial-as-obligatory-loyalty-test-for-republicans?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Labels Donald Trump&#8217;s Hush Money Trial As &#8216;Obligatory Loyalty Test&#8217; For Republicans, Says &#8216;It&#8217;ll Never Be Enough For Donald Trump&#8217;</a>
Why It Matters: The ICC&#8217;s actions come amid heightened tensions and ongoing violence in the region. Earlier, Israeli forces <a href="https://www.benzinga.com/news/24/05/38909656/israel-intensifies-gaza-strikes-killing-at-least-28-palestinians-as-us-envoy-meets-with-netanyahu-to">intensified their strikes</a> across the Gaza Strip, resulting in significant casualties. This escalation coincided with a visit from White House National Security Adviser Jake Sullivan to Prime Minister Benjamin Netanyahu, aiming to prevent a full-scale assault on Rafah.
Earlier in February, ICC prosecutor Karim Ahmad Khan had already <a href="https://www.benzinga.com/markets/asia/24/02/37081429/international-criminal-court-raises-alarm-over-israeli-rafah-operations-urges-justice-for-war-crimes">raised alarms</a> over Israeli military operations in Rafah, expressing concerns about potential violations of the Rome Statute.
Additionally, earlier in the month, the U.S. House of Representatives passed a bill to <a href="https://www.benzinga.com/news/24/05/38891210/gop-led-house-passes-bill-to-force-biden-to-send-arms-to-israel-amid-war-with-hamas">expedite arms shipments</a> to Israel, highlighting the international dimension of the conflict. This move was seen as a response to President Joe Biden&#8216;s delay in bomb shipments amid the ongoing war with Hamas.
On May 20, ICC prosecutor Karim Khan formally requested arrest warrants for Israeli leaders, accusing them of <a href="https://www.benzinga.com/etfs/specialty-etfs/24/05/38920325/icc-prosecutor-requests-arrest-warrants-for-israeli-leaders-on-war-crimes-charges">serious war crimes</a>, including cutting off essential supplies and attacking civilians and aid workers.
Photo Courtesy: Lev Radin on Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/05/38908248/donald-trumps-campaign-is-spending-just-as-quickly-as-its-raising-money-raising-serious-concerns-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump&#8217;s Campaign Is Spending Just As Quickly As It&#8217;s Raising Money, Raising Serious Concerns In Lead-Up To Election</a>
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Amal Clooney Gave Advice To ICC On Arrest Warrants For Benjamin Netanyahu, Top Israeli Officials: 'The Law ...Applies In Every Country In The World'

SCNI

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

Earnings

TMTG: "At this early stage in the Company's development, TMTG remains focused on long-term product development, rather than quarterly revenue"

Trump Media & Technology Group Q1 EPS $(3.61); Revenue $770.5K Vs $1.12M YoY

TMTG Earlier Reported Revenue Of $770,500 In Q1, Says Revenue Was 'largely from the Company's nascent advertising initiative'

The trading volume of a stock reflects the number of shares bought and sold within a given time. This is called liquidity. The term is used because it likens the ease of converting assets to cash to the fluidity of water. Why is this <a href="https://www.benzinga.com/cannabis">important for cannabis stocks</a>?
Liquidity determines how easily a stock can be bought or sold without significantly affecting its price. High liquidity is associated with lower transaction costs and greater flexibility, making it essential for both short-term traders and long-term investors.
<h2>High-Liquidity Cannabis Stocks</h2>
Several cannabis stocks are known for high trading volumes, indicating strong <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38206489/cannabis-markets-trading-volume-surges-up-292-viridian-capital-highlights-mixed-liq">liquidity</a>. Examples in <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> include SNDL, Tilray Brands, Cronos Group and Aurora Cannabis.
<ul>
<li>SNDL: (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sndl#NASDAQ">SNDL</a>) Trading volume of 4,652,464, priced at $2.40 with a decline of 2.439%.</li>
<li>Tilray Brands (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>): Trading volume of 26,783,844, priced at $1.95 with a decline of 2.0202%.</li>
<li>Cronos Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cron#NASDAQ">CRON</a>): Trading volume of 2,192,492, priced at $2.80 with a decline of 4.1379%.</li>
<li>Aurora Cannabis (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acb#NASDAQ">ACB</a>): Trading volume of 2,178,950, priced at $7.40 with a gain of 0.542%.</li>
</ul>
<h3>Pros And Opportunities</h3>
<ul>
<li>Reduced Transaction Costs: High liquidity results in narrower bid-ask spreads, lowering the cost of buying and selling.&nbsp;The bid-ask spread is the difference between the highest price a buyer is willing to pay for a stock and the lowest price a seller is willing to accept.&nbsp;</li>
<li>Flexibility: Investors can easily adjust positions without significant price impacts.</li>
<li>Market Confidence: High <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38490666/how-big-caps-rewrite-valuation-rules-in-cannabis-cash-puzzle-for-companies-above-an">trading volumes</a> suggest strong market interest and confidence.</li>
</ul>
<h3>Cons And Risks&nbsp;</h3>
<ul>
<li>Volatility: High trading volumes can still be accompanied by price volatility, requiring careful timing for trades.</li>
</ul>
<h2>Low-Liquidity Cannabis Stocks</h2>
Some cannabis stocks have <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38343689/whats-the-net-worth-of-these-420-underdogs-mid-tier-cannabis-retailers-cultivators-">lower trading volumes</a>, indicating less liquidity. Examples include Medical Marijuana (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mjna#OTC">MJNA</a>), Trees (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cann#OTC">CANN</a>),<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38828563/largest-cannabis-co-curaleafs-1-5b-projected-revenue-for-2025-analyst-raises-rating"> Curaleaf Holdings </a>(OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>)&nbsp;and Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>).
<ul>
<li>Medical Marijuana: Trading volume of 16,116,070, priced at $0.002 with a decline of 4.7619%.</li>
<li>Trees: Trading volume of 42,127, priced at $0.10 with a gain of 11.1111%.</li>
<li>Curaleaf Holdings: Trading volume of 616,467, priced at $5.33 with a decline of 5.9965%.</li>
<li>Green Thumb Industries: Trading volume of 466,633, priced at $12.35 with a decline of 5.8689%.</li>
</ul>
<h3>Pros And Opportunities</h3>
<ul>
<li>Potential High Returns: Lower liquidity stocks can offer high returns due to their smaller market caps and higher volatility.</li>
<li>Market Entry: Opportunity to invest early in potentially <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38772876/cannabis-reports-highlight-339m-and-297-6m-revenue-insights-in-curaleaf-and-truliev">high-growth companies</a>.</li>
</ul>
<h3>Cons And Risks:</h3>
<ul>
<li>Higher Transaction Costs: Wider bid-ask spreads can increase the cost of trading.</li>
<li>Price Impact: Significant trades can lead to large price swings, making it harder to execute orders at desired prices.</li>
<li>Market Confidence: Lower trading volumes may indicate less market interest and confidence.</li>
</ul>
High-liquidity stocks offer reduced transaction costs and flexibility but can still be volatile. Low-liquidity stocks may offer high returns but come with higher transaction costs and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38805354/analysts-may-need-to-revise-cannabis-stock-projections-for-2024-10-companies-surpas">potential price impacts</a>.
By understanding these factors, investors can make more informed decisions and optimize their strategies in the dynamic cannabis sector.
To learn more about the cannabis business and how to invest in the sector,&nbsp;don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
Photo: AI-Generated Image.

Cannabis

Mid Cap

Small Cap

Exclusives

Markets

CANN

CRON

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

MJNA

SNDL

TLRY

Easy-To-Trade Cannabis Stocks: Insights Into How Trading Activity Affects These Investments

If your idea of a romantic weekend involves a bowl of caramel popcorn, pizza, red wine, and the comfort of your home instead of hotel check-ins and airport queues, then you are at the right place. Netflix has a treasure trove of romantic comedies which will fill your weekend with love and laughter, without ever stepping outside. 
So, grab your popcorn and snuggle up on the couch, because binge-watching one of these five romcoms will be the perfect way to spend your time with a loved one:
Thank You, Next: The Journey That Starts With A Heartbreak&nbsp;
This TV show is about a young lawyer, who goes through a gut-wrenching breakup. She then restarts her dating life with the help of her friends but the complexities of modern romance make it somewhat difficult.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17012637/Screenshot-2024-05-17-at-10.56.12%E2%80%AFAM-1024x832.png" alt="" class="wp-image-342679" /><figcaption class="wp-element-caption">Thank You, Next &#x7C; Source: Netflix</figcaption></figure>
Love: Because The Road To True Romance Isn't Straight
Led by the amazing actors Gillian Jacobs and Paul Rust, Love is a heartfelt, loud yet captivating series. It revolves around a couple, both of whom are equally untrustworthy and chaotic. The series is about them trying to build a relationship despite having almost no common traits.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17014232/Screenshot-2024-05-17-at-11.12.11%E2%80%AFAM-1024x832.png" alt="" class="wp-image-342690" /><figcaption class="wp-element-caption">Love &#x7C; Source: Netflix</figcaption></figure>
Easy: Finding True Love In Today's Era Is Not For The Faint Of Heart&nbsp;
Set in Chicago, this anthology series features several modern relationships, each with its problems and intricacies. The series gives an authentic portrayal of love and its interpretation in the modern world.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17015033/MV5BNDI5MjY0NTkwM15BMl5BanBnXkFtZTgwODM5MjAyNDM%40._V1_-1024x576.jpg" alt="" class="wp-image-342699" /><figcaption class="wp-element-caption">Easy &#x7C; Source: IMDb</figcaption></figure>
Sex Education: Navigating The Treacherous Waters Of Love And Adolescence
The series delves into the lives of teenagers, some of whom are on the path of self-discovery while others suffer from peer pressure. It also shows some tender yet awkward moments when these teenagers fall in love for the first time and express the same.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17015629/MV5BMjE5ODYzOTY0Nl5BMl5BanBnXkFtZTgwNDE5MTgwNzM%40._V1_-1024x683.jpg" alt="" class="wp-image-342703" /><figcaption class="wp-element-caption">Sex Education &#x7C; Source: IMDb</figcaption></figure>
Never Have I Ever: The Tale Of A Teenager's Love And Self-Discovery
The show follows the journey of Devi, a supremely talented and nerdy girl, who is dealing with her share of trauma, friendships, a strained relationship with her mother, and a burgeoning romance. The series makes it clear that this 15-year-old-teenager is far from perfect, and can be self-centered at times, and shows her evolution beautifully.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17020526/Screenshot-2024-05-17-at-11.34.58%E2%80%AFAM-1024x832.png" alt="" class="wp-image-342716" style="width:921px;height:auto" /><figcaption class="wp-element-caption">Never Have I Ever&#x7C; Source: Netflix</figcaption></figure>
Photo generated using Dall-E

5 Romcoms On Netflix To Fill Your Weekend With Love And Laughter

Movie theater company AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) saw shares rally on Monday, which comes in the wake of meme stocks being <a href="https://www.benzinga.com/news/24/05/38789552/are-meme-stocks-back-heres-whats-going-on-with-shares-of-gamestop-amc-entertainment-koss-corp-and-mo">highly volatile last week.</a>
Did musician Billie Eilish help AMC stock Monday?
What Happened: Last week, AMC hosted an exclusive "Listening Event" for Eilish's newly released album "Hit Me Hard and Soft." The partnership was announced during AMC's recent <a href="https://www.benzinga.com/news/earnings/24/05/38714863/amc-entertainment-q1-earnings-highlights-revenue-beat-eps-beat-billie-eilish-theater-experience-lau">first-quarter financial results.</a>
"Our Billie Eilish Listening Event was a great success. We filled seats at almost TEN TIMES the normal rate for a Thursday afternoon. Thank you Billie for sharing your great talent with your fans at AMC Theatres," AMC CEO Adam Aron <a href="https://x.com/CEOAdam/status/1792225475634307207">tweeted</a>.
The Eilish Listening Event comes as AMC has warned that the second quarter box office will be impacted by the Hollywood strikes of 2023.
"While the second quarter box office will continue to be affected by the 2023 Hollywood strikes, we continue to be ebullient about the upcoming film lineup in the second half of 2024 and throughout 2025," Aron said.
First quarter domestic box office of $1.61 billion was down 6.6% year-over-year for the movie theater industry, according to <a href="https://www.boxofficemojo.com/quarter/q1/2024/?ref_=bo_ql_table_1">BoxOfficeMojo</a>.
The second quarter, which <a href="https://www.boxofficemojo.com/quarter/q2/?grossesOption=calendarGrosses">includes </a>April, May and June currently sits at $766.5 million around halfway through the time period, compared to $2.68 billion last year. Last year's second quarter saw "Super Mario Bros." and "Guardians of the Galaxy Vol. 3" lead the way with $573.3 million and $353.6 million domestically in the quarter. There were a total of six films that hit $100 million or more in the second quarter domestically in 2023.
So far in 2024, the second quarter's top film is "Godzilla x Kong: The New Empire" at $114.4 million.
Upcoming releases in the quarter include "Furiosa: A Mad Max Saga," "Bad Boys: Ride or Die," "The Watchers" and "Inside Out 2."
Related Link: <a href="https://www.benzinga.com/general/education/24/05/38793704/who-is-roaring-kitty-why-does-his-return-to-social-media-matter-for-gamestop-stock">Who Is Roaring Kitty? Why Does His Return To Social Media Matter For GameStop Stock?</a>
Why It's Important: Given the likelihood that the second quarter domestic box office will be lower than last year, activities such as the listening event and growth in food and beverage sales could soften the impact or boost AMC&#8217;s results.
Eilish <a href="https://x.com/billieeilish/status/1787882467598446813">tweeted </a>that tickets for the event were $5, which is lower than concert films from Beyonce and Taylor Swift. However, it gets people into the theaters where AMC could upsell the patrons with food, including in some locations new items<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38741474/amc-stock-trades-at-pre-meme-historical-multiple-can-donut-holes-salads-and-billie-"> like salads and mini donuts.</a>
Aron said that the company was in talks with some of the "world's greatest musical artists," which could mean more listening events are coming.
"We expect that AMC will continue to break new ground and blaze new trails with the world's most talented and beloved musicians."
Earlier this year, AMC <a href="https://deadline.com/2024/04/amc-taylor-swift-beyonce-concerts-stephanie-terifay-1235893759/">added </a>Stephanie Terifay in the newly created role of vice president of Distribution. Terifay comes to AMC with years of experience at Fandango where she helped with partnerships and consumer awareness campaigns for movies and events.
The hiring of Terifay and the promotion of Kevin Arnold to the VP Programming Promotions &amp; Partnership role, will likely lead to more non-movie events at AMC theaters. The move could help AMC diversify away from blockbusters and see less volatility when a quarter is facing tough comps from the prior year.
AMC Price Action: AMC shares finished 9.7% higher at $4.83 on Monday versus a 52-week trading range of $2.38 to $54.97.
Read Next: <a href="https://www.benzinga.com/general/entertainment/23/12/36317408/global-box-office-2024-to-decline-5-in-2023-bad-news-for-amc-cinemark">Global Box Office 2024 To Decline 5% In 2023: Bad News For AMC, Cinemark?</a>
Photo: Shutterstock

Movers

AMC Stock Rallies Monday: Can 'Great Success' Of Billie Eilish Concert Film Offset Q2 Box Office Weakness?

The prices of cryptocurrencies surged on Monday evening as new details emerged about the Securities and Exchange Commission advancing the process for the first U.S. <a href="https://www.benzinga.com/topic/ethereum-etf">exchange-traded funds</a> holding Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
What Happened: On Monday, the SEC&#8217;s Trading and Markets Division instructed asset managers to revise their 19b-4 filings, which are typically used to request the SEC&#8217;s permission to amend their rulebooks for the listing of a new type of ETF, <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-jones-05-20-2024/card/crypto-prices-jump-on-ether-etf-approve-hopes-0bGFUEbtjiRzilJ2QPgh?mod=lctimeline_finance">according</a> to The Wall Street Journal.
This move was seen as a positive development by many investors, leading to a surge in crypto prices. The updated filings are anticipated to be live in the near future, WSJ reports.
Despite the lack of communication between the SEC staff and potential ETF issuers, the SEC&#8217;s decision to instruct asset managers to amend their filings has raised hopes for an Ether ETF approval this week, according to the Journal. This has led to an 18% surge in the price of Ether and a more than 5% increase in the price of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
Why It Matters: The potential approval of an Ether ETF is a significant development for the cryptocurrency market. Ether is the second-largest cryptocurrency after Bitcoin, and an ETF would make it easier for investors to gain exposure to this digital asset.
What&#8217;s Next: The updated 19b-4 filings are expected to go live in the coming days, WSJ reports. Some analysts have raised their estimates for an ether ETF approval to 75% following this development.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38898114/coinbase-says-ethereum-etf-approval-more-likely-than-you-think-heres-why?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Coinbase Says Ethereum ETF Approval More Likely Than You Think— Here&#8217;s Why</a>
Why It Matters: The SEC&#8217;s recent actions have sparked hope for the approval of Ether ETFs, with analysts Eric Balchunas and James Seyffart raising the odds from 25% to 75% on Monday. However, they later clarified that the odds were related to the 19b-4 approvals, not the final ETF authorization.
The SEC is expected to make a decision on the VanEck spot Ether ETF on Thursday. The SEC has been investigating whether Ether, the primary native asset to the Ethereum blockchain, is a security. If deemed a security, this could be grounds for the regulator to reject the spot Ether ETF applications.
What&#8217;s Next: The potential approval of Ether ETFs has already had a significant impact on the market. Following the news, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38926646/bitcoin-smashes-70k-ethereum-pumps-12-on-etf-approval-bombshell-odds-of-approval-75-tweets">Bitcoin surged past $70,000 and Ethereum&#8217;s price rose by 14%</a>.
Ethereum&#8217;s co-founder, Vitalik Buterin, recently <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38911118/vitalik-buterin-says-proud-ethereum-doesnt-censor-critical-views-social-media-users-compla">praised the platform&#8217;s culture of welcoming criticism</a>, a sentiment that was met with mixed reactions on social media.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38890935/top-crypto-trader-dumps-entire-bitcoin-portfolio-to-buy-altcoins-but-should-you-be-taking-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Top Crypto Trader Dumps Entire Bitcoin Portfolio To Buy Altcoins, But Should You Be Taking This &#8216;Huge&#8217; Risk</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock.

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

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Crypto Market Rallies As SEC Reportedly Moves Forward With Ether ETF Process

Guidance&nbsp;for the full fiscal year 2025; includes:
<ul>
<li>North American volumes to be in the range of 2,950 million to 3,150 million standard feet vs FY24 3,054 million standard feet</li>
<li>North American EBIT margin to be in the range of&nbsp;29%&nbsp;to&nbsp;31%</li>
<li>Adjusted Interest, net: $25 million to $29 million vs FY24 $24.3 million</li>
<li>Adjusted Effective Tax Rate:&nbsp;23.5%&nbsp;to&nbsp;24.5%&nbsp;vs FY24&nbsp;23.0%</li>
<li>Adjusted Net Income to be in the range of $630 million to $700 million</li>
</ul>

Guidance

James Hardie Industries Expects Q1 North American Volumes Of 745M-775M Standard Feet, Adjusted Net Income Of $155M - $175M

James Hardie Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) reported quarterly earnings of $0.40 per share which missed the analyst consensus estimate of $0.42 by 4.76 percent. The company reported quarterly sales of $1.005 billion which missed the analyst consensus estimate of $1.009 billion by 0.40 percent. This is a 9.50 percent increase over sales of $917.800 million the same period last year.

Earnings Misses

James Hardie Industries Q4 2024 Adj EPS $0.40 Misses $0.42 Estimate, Sales $1.005B Miss $1.009B Estimate

Workhorse Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) reported quarterly losses of $(0.10) per share which missed the analyst consensus estimate of $(0.09) by 11.11 percent. The company reported quarterly sales of $1.339 million which missed the analyst consensus estimate of $4.134 million by 67.61 percent. This is a 20.91 percent decrease over sales of $1.693 million the same period last year.

WKHS

Workhorse Gr Q1 2024 GAAP EPS $(0.10) Misses $(0.09) Estimate, Sales $1.339M Miss $4.134M Estimate

Trip.com Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>) reported quarterly Adj earnings of $0.83 per share which beat the analyst consensus estimate of $0.57 by 45.61 percent. This is a 84.44 percent increase over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $1.65 billion which beat the analyst consensus estimate of $1.61 billion by 2.55 percent. This is a 23.12 percent increase over sales of $1.34 billion the same period last year.

TCOM

Trip.com Group Q1 Adj EPS $0.83 Beats $0.57 Estimate, Sales $1.65B Beat $1.61B Estimate

The U.S. has taken a firm stance against a proposed global wealth tax on billionaires, as announced Monday <a href="https://www.benzinga.com/topic/janet-yellen">by Treasury Secretary Janet Yellen.</a>
This idea, championed by Brazil, France and other nations, aims to reduce economic inequality by <a href="https://www.benzinga.com/topic/billionaires">targeting the global billionaires. </a>
Yellen emphasized that while the U.S. supports progressive taxation, it cannot back a worldwide initiative of this nature, as reported by the <a href="https://www.wsj.com/politics/policy/a-global-tax-on-billionaires-janet-yellen-says-no-cdb22e2f?mod=hp_lead_pos2">Wall Street Journal</a>.
&#8220;We're not supportive of a process to try to achieve that. That's something we can't sign on to," she said.
As the leader of the Group of 20 major economies, Brazil has urged the group to develop a unified approach to taxing extremely wealthy individuals who often relocate their funds to low-tax jurisdictions.
The goal is to create a system similar to the global minimum tax on corporations, agreed upon by roughly 140 countries in 2021, though the rollout has faced significant obstacles, particularly in the U.S.
Although the Biden administration has proposed significant tax increases for high-income Americans, it has avoided advocating for a wealth tax, which involves collecting a portion of an individual&#8217;s net worth annually. Instead, President Joe Biden has proposed a plan that would require Americans with a net worth exceeding $100 million to pay a 25% tax on their total earnings each year, including unrealized capital gains.
Yellen made it clear the U.S. would not endorse discussions on a global wealth tax. She is set to meet with finance ministers from the Group of Seven advanced democracies later this week, where this topic is expected to be on the agenda.
<h3 class="wp-block-heading">G20 Discussions On Billionaire Tax</h3>
As reported by the <a href="https://www.ft.com/content/1f1160e0-3267-4f5f-94eb-6778c65e65a4">Financial Times</a> on Sunday, French economist Gabriel Zucman presented a proposal for a global billionaire's tax to G20 finance ministers in February, at the request of Brazil. 
Officials from Brazil, France, Spain, Germany and South Africa have discussed a plan requiring billionaires to pay taxes equivalent to at least 2% of their overall wealth annually.
Supporters of the global wealth tax argue that a coordinated effort would prevent the wealthy from moving their assets to tax-friendly countries. This would enable governments to raise more tax revenue to support other priorities and address the growing income inequality.
&#8220;The super-rich will fight it tooth and nail, but yes — we will have, one day, a coordinated minimum tax on the super-rich. And perhaps sooner than you think!&#8221; Zucman commented on social media X.
<h3 class="wp-block-heading">Dominance Of American Billionaires </h3>
According to the Forbes 2024 Billionaires List, the United States dominates with 26 billionaires in the top 50, including nine out of the top 10. 
Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), is the richest U.S. citizen and ranks second globally with a net worth of $195 billion, just behind Bernard Arnault. 
Jeff Bezos, founder of Amazon.com and Bill Gates, co-founder of Microsoft, follow closely with fortunes of $194 billion and $134 billion, respectively.
Other prominent U.S. billionaires include Mark Zuckerberg, CEO of Meta Platforms Inc.; Warren Buffett, CEO of Berkshire Hathaway Inc.; and Larry Ellison, CTO of Oracle Corp.,highlighting the significant presence and influence of American entrepreneurs and business leaders on the global stage.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Rank</th>
<th>Name</th>
<th>Net Worth (Billion USD)</th>
<th>Age</th>
<th>Country</th>
<th>Industry</th>
</tr>
</thead>
<tbody>
<tr>
<td>1</td>
<td>Bernard Arnault &amp; family</td>
<td>233</td>
<td>74</td>
<td>France</td>
<td>Fashion &amp; Retail</td>
</tr>
<tr>
<td>2</td>
<td>Elon Musk</td>
<td>195</td>
<td>52</td>
<td>United States</td>
<td>Automotive</td>
</tr>
<tr>
<td>3</td>
<td>Jeff Bezos</td>
<td>194</td>
<td>60</td>
<td>United States</td>
<td>Technology</td>
</tr>
<tr>
<td>4</td>
<td>Bill Gates</td>
<td>134</td>
<td>68</td>
<td>United States</td>
<td>Technology</td>
</tr>
<tr>
<td>5</td>
<td>Mark Zuckerberg</td>
<td>122</td>
<td>39</td>
<td>United States</td>
<td>Technology</td>
</tr>
<tr>
<td>6</td>
<td>Warren Buffett</td>
<td>121</td>
<td>93</td>
<td>United States</td>
<td>Finance &amp; Investments</td>
</tr>
<tr>
<td>7</td>
<td>Larry Ellison</td>
<td>120</td>
<td>79</td>
<td>United States</td>
<td>Technology</td>
</tr>
<tr>
<td>8</td>
<td>Steve Ballmer</td>
<td>101</td>
<td>68</td>
<td>United States</td>
<td>Technology</td>
</tr>
<tr>
<td>9</td>
<td>Larry Page</td>
<td>100</td>
<td>50</td>
<td>United States</td>
<td>Technology</td>
</tr>
<tr>
<td>10</td>
<td>Sergey Brin</td>
<td>98</td>
<td>50</td>
<td>United States</td>
<td>Technology</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: Forbes Billionaires List (as of May 20, 2024)</figcaption></figure>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38923061/dow-to-reach-60-000-s-p-500-to-hit-8-000-by-2030-in-wall-street-veterans-roaring-20">Dow To Reach 60,000, S&amp;P 500 To Hit 8,000 By 2030 In Wall Street Veteran&#8217;s &#8216;Roaring 2020s Scenario&#8217;</a>
Treasury Secretary Janet Yellen. Benzinga file photo by Dustin Blitchok.

Global

Econ #s

TSLA

Treasury Secretary Yellen Rejects Global Billionaire Tax: Big Relief For Elon Musk, Jeff Bezos, Bill Gates And Mark Zuckerberg

Tesla Inc. CEO Elon Musk is the world's third richest person, with a net worth of $190 billion, according to Bloomberg Billionaires Index. But it's not like Musk's life has been spot-free – the billionaire has made several major money mistakes, and one of them is worth nearly a fourth of his current net worth.
Here are five of Musk&#8217;s biggest money mistakes:
<h3 class="wp-block-heading">1. Musk's $44B Acquisition Of Twitter</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="553" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30125143/musk-twitter-x-shutter-1024x553.jpg" alt="Elon Musk Twitter" class="wp-image-153279" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30125143/musk-twitter-x-shutter-1024x553.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30125143/musk-twitter-x-shutter-300x162.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30125143/musk-twitter-x-shutter-768x415.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30125143/musk-twitter-x-shutter-1536x829.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30125143/musk-twitter-x-shutter.jpg 1850w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Musk&#8217;s biggest money mistake by far &#x7C; Photo courtesy: Shutterstock</figcaption></figure>
Perhaps the biggest money mistake Musk has made so far is his $44 billion acquisition of Twitter, now X. The social media platform's recent valuation by Fidelity shows the value has <a href="https://www.benzinga.com/news/24/02/36895228/fidelity-raises-x-valuation-heres-how-much-its-fallen-from-elon-musks-twitter-purchase-price">fallen to just $14.1 billion now</a>, down from the $44 billion that Musk paid to acquire it.
<h3 class="wp-block-heading">2. ‘Funding Secured'</h3>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17051222/Tesla-CEO-ELon-Musk-1024x683.jpg" alt="Tesla CEO Elon Musk" class="wp-image-342959" style="width:920px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17051222/Tesla-CEO-ELon-Musk-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17051222/Tesla-CEO-ELon-Musk-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17051222/Tesla-CEO-ELon-Musk-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17051222/Tesla-CEO-ELon-Musk-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17051222/Tesla-CEO-ELon-Musk.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Musk&#8217;s ill-fated social media post on taking Tesla private cost millions in fines &#x7C; Image made via photos on Shutterstock</figcaption></figure>
Another one of Musk's biggest money mistakes is his "Funding secured" post on X about Tesla which led to an investigation by the Securities and Exchange Commission (SEC,) <a href="https://www.benzinga.com/news/24/02/36895228/fidelity-raises-x-valuation-heres-how-much-its-fallen-from-elon-musks-twitter-purchase-price">resulting in a $20 million fine</a>.
<h3 class="wp-block-heading">3. Musk's Multiple Divorces</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22020655/shutterstock_2425470833-1024x683.jpg" alt="Tesla CEO Elon Musk" class="wp-image-224855" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22020655/shutterstock_2425470833-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22020655/shutterstock_2425470833-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22020655/shutterstock_2425470833-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22020655/shutterstock_2425470833-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22020655/shutterstock_2425470833.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Musk&#8217;s multiple divorces have proven costly &#x7C; Photo via Shutterstock</figcaption></figure>
Musk's multiple divorces have cost the Tesla CEO and SpaceX founder a pretty penny. He <a href="https://www.businessinsider.com/correcting-the-record-about-my-divorce-2010-7?IR=T">revealed</a> that he pays an average of $20,000 to his first wife, Justine Musk, apart from having footed an average of $170,000 in monthly legal bills.
He then married and divorced actress Talulah Riley twice, which ended up costing $20 million in alimony.
<h3 class="wp-block-heading">4. Roadster Failure</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="674" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19042530/shutterstock_1747839884-1024x674.jpg" alt="Tesla Roadster" class="wp-image-256796" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19042530/shutterstock_1747839884-1024x674.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19042530/shutterstock_1747839884-300x197.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19042530/shutterstock_1747839884-768x505.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19042530/shutterstock_1747839884-1536x1011.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19042530/shutterstock_1747839884.jpg 1641w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Tesla Roadster &#x7C; Photo via Shutterstock</figcaption></figure>
Tesla's first car, the Roadster, proved to be a disaster for both the company and Musk. Tesla unveiled the Roadster prototype in 2006 and launched it commercially in 2008. The company spent $25 million on the car, and BBC's Jeremy Clarkson <a href="https://www.tesla.com/blog/tesla-vs-top-gear">panned it</a> for range and quality control issues. Tesla even sued the BBC over this but eventually lost its case.
<h3 class="wp-block-heading">5. Crashing McLaren F1</h3>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="941" height="514" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/07/15014854/McLaren-F1-Photo-by-dimcars-on-Shutterstock.jpg" alt="McLaren F1 Photo by dimcars on Shutterstock" class="wp-image-68536" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/07/15014854/McLaren-F1-Photo-by-dimcars-on-Shutterstock.jpg 941w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/07/15014854/McLaren-F1-Photo-by-dimcars-on-Shutterstock-300x164.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/07/15014854/McLaren-F1-Photo-by-dimcars-on-Shutterstock-768x420.jpg 768w" sizes="(max-width: 941px) 100vw, 941px" /><figcaption class="wp-element-caption">McLaren F1 &#x7C; Photo courtesy: Shutterstock </figcaption></figure>
Fresh off his successful sale of Zip2 for $300 million, Musk purchased the McLaren F1 for $1 million as his daily drive. Then, in order to impress PayPal Inc. co-founder Peter Thiel, Musk went ahead to show off the sports car's power.
He ended up <a href="https://www.benzinga.com/general/24/02/37016578/elon-musk-spent-1-million-on-a-super-rare-mclaren-f1-but-then-crashed-it-trying-to-impress-peter-thi">crashing the $1 million car</a> after hovering about 3 feet in the air.
Photo courtesy: Shutterstock