Forbes Daily Briefing

Elon Musk on Monday announced he plans to give every child in America one share in his aerospace and AI company SpaceX next year, shortly after he criticized rival Anthropic’s plan to pledge 5% of its shares to a public benefit fund and urged the company to distribute its shares directly to the public. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/10/19/elon-musk-sa...

Tyler Shultz, a former Theranos employee who blew the whistle on the ill-fated biotech company, alleged its founder and convicted fraudster Elizabeth Holmes “misled” Nathan Fielder about the technology her company developed in a key scene in his new documentary, “You Can See Everything.” Read the full story on Forbes: https://www.forbes.com/sites/conormurray/2026/10/19/theranos-whistleblower-alleg...

The Chinese-owned social network has run dozens of ads promoting the sale of counterfeit currency. One even directed users to a Telegram account offering a discount code for 10% off fake money: “TikTok10.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Stephen Curry was the NBA’s first unanimous MVP, in 2016. The first player to lead the league in 3-pointers four times, then five times, then six and seven and eight times. The first player to launch 10,000 attempts from beyond the arc—and the first to drain 4,000 of them. But for all of the ways the Golden State Warriors’ 38-year-old sharpshooter has transformed basketball, he is just as much of...

IN SEPTEMBER 2025, staff from an environmental nonprofit descended on Trump National Golf Club in Jupiter, Florida. Over three days, they looked for the kind of things that excite naturalists—bird species, bat calls, plant varieties—then recorded their discoveries in a 180-page report. It barely mentioned the thing they were really looking for: a tax break for Donald Trump. The president needed on...

As CEO of the largest, most successful drugmaker on the planet, Dave Ricks sure spends a lot of time thinking about risk. Eli Lilly’s weight-loss and diabetes drugs have become wildly successful beyond anyone’s imagination. Its latest 12-month revenue (through June 30) surged 50% to $79.7 billion, with Zepbound (for weight loss) and Mounjaro (for diabetes) accounting for 62% of the total. In Novem...

NBA teams don’t come up for sale often—two-thirds of the league’s control owners have been in place for at least a decade—which is one big reason why it was such a surprise that August featured two quick flips. First, Mark Walter agreed to sell the Los Angeles Lakers to Josh Kushner and Bob Iger only about ten months after his purchase of the franchise had closed, and then, barely a week later, Mi...

In case you haven’t heard, Vivek Ramaswamy wants Ohio to stop taxing capital gains. The Republican candidate for governor has made the proposal his opening salvo in a larger tax-cutting agenda: eliminate Ohio taxes on capital gains beginning next year, then phase out the state income tax altogether over the next decade. “If we do it,” he said last year, “founders will flock to Ohio in droves.” Ram...

California voters are set to determine the fate of California’s proposed billionaire wealth tax in November. But some of the state’s wealthiest people aren’t taking any chances and have already moved out of state, starting with its two wealthiest people, Google cofounders Larry Page and Sergey Brin. According to their representatives, Page (estimated fortune: $288 billion) and Brin ($265 billion)...

The AI boom runs on Nvidia chips, staggering amounts of electricity and water—and a lot of glass. Corning makes more of it than anyone else. More precisely, the 175-year-old glass company makes the hair-thin optical fiber that hauls data between servers, buildings and data centers. Demand has become so intense that Corning has recently signed multibillion-dollar agreements with Amazon, Nvidia, Met...

Ayear ago, as AI was supposedly coding software engineers out of a job, it still couldn’t reliably book dinner. And some of the biggest tech companies around were struggling to build an assistant that could use your apps without creating more work for you. When Apple delayed the Siri upgrade that would have allowed it to take action within apps, software chef, Craig Federighi, offered a blunt...

Michael Dell’s net worth briefly leaped by more than $10 billion in the hours after markets opened on Tuesday, placing him just behind Google co-founder Larry Page as the fourth-wealthiest person in the world after the S&P 500 hit a fresh record amid a larger stock surge. Read the full story on Forbes: https://www.forbes.com/sites/zacharyfolk/2026/10/06/michael-dells-net-worth-soars-after-stock-ma...

Medici Brands, the parent company behind David protein bars and low-calorie, low-sugar candy brand HallPass, raised $250 million at a $2.25 billion valuation in early September. It was the biggest food industry deal so far this year. The transaction catapults its founder and CEO Peter Rahal, 40, who invested $20 million in the round (representing 8% of the fundraise), into the billionaire ranks. M...

Stephen Mathew Morrow, better known by his nom de casino, Vegas Matt, looks like a caricature of a high-stakes gambler. A large, one-pound gold chain hangs around his neck with a matching bracelet on his right wrist, a Rolex SkyDweller on his left, and a Rolls-Royce Cullinan parked outside the El Cortez Hotel and Casino in Downtown Las Vegas. As he walks the casino floor on a Tuesday afternoon in...

Amazon founder Jeff Bezos said he believes artificial intelligence could generate enough productivity gains to allow Americans to have a three-day workweek or rely on a single-income for the whole household—pushing back against fears that the technology could lead to large-scale job losses for American workers. In an interview with Fox News that aired Wednesday evening, Bezos told host Bret Baier...

Brett Adcock has spent the past decade turning tomorrow into money. He made his first $30 million the old-fashioned way: building and then selling job website Vettery for $110 million in 2018. Everything since has come from putting a present-day price on a future-day product. In 2021, he took the air taxi outfit Archer Aviation public via SPAC, raising $858 million at a $1.7 billion valuation befo...

Federal agencies are working together to monitor travelers arriving from Siberia after a potential pneumonic plague case was identified in Russia, though health officials say they’re confident the threat to Americans is “extremely low” and President Donald Trump says Russia claims to have the situation “very much under control.” Learn more about your ad choices. Visit megaphone.fm/adchoices

The biggest pile of consumer debt in America isn’t sitting on credit cards or student loan balances. It’s in our homes. Americans owe $13 trillion on their mortgages, which makes up nearly 70% of all consumer debt. Every month, billions in interest and principal payments must be collected, tracked and divvied up among lenders, investors, insurers and the IRS. Yet the industry tasked with handling...

Hedge fund billionaire Ray Dalio said the artificial intelligence bubble is nearing the point where it may burst as interest rates rise and technology companies borrow heavily to fund the AI infrastructure build out. Read the full story on Forbes: https://www.forbes.com/sites/fionariley/2026/10/07/billionaire-ray-dalio-warns-ai-bubble-could-soon-burst/ Learn more about your ad choices. Visit megap...

After graduating from the University of Virginia in 2019 with a bachelor’s in business analytics and finance, Megan Lieu took a job at EY Consulting. She spent two years there and then began job hopping, staying at one place for just six months. Yet each of her three moves, she proudly recalls, brought her a hefty income bump of around 20%.  Now 30 and self-employed since 2024, Lieu advi...

Elon Musk’s net worth topped $1 trillion Monday morning as stocks for his companies SpaceX and Tesla climbed after the stock market opened, restoring the controversial tech mogul’s trillionaire status after he first hit that milestone in June. Forbes estimates Musk’s net worth at $1 trillion on Monday, which is up by $30.6 billion over Friday, the last day the stock market was open. The...

Ona bright August morning, Bob Clark, the founder of construction giant Clayco, stops by the new $850 million, 19-acre Obama Presidential Center, which he helped build, in Jackson Park on the South Side of Chicago. After a quick checkup on the “Obamalisk,” as he fondly calls the complex’s central eight-story spire of granite, glass and concrete, he gives a speedy hello to former White House s...

Announced Friday by Argentina’s Minister of Economy, Luis Caputo, and set to launch before the end of 2026, the country’s citizenship-by-investment program is the first in South America, the first for a G20 country, and the first to recognize same-sex married couples. There are two ways to buy into the program: make a one-time, non-refundable donation or invest in a seven-year, no interest bond. H...

The race to make India a data center hub geared up this year as the country’s two richest men made multibillion-dollar pledges to support a nationwide buildout. Gautam Adani announced in February that his infrastructure conglomerate, Adani Group, would invest $100 billion by 2035 in data centers powered by renewable energy supplied by his Adani Green Energy. Shortly thereafter, Reliance Industries...

Joe Strada is getting his picture taken and his employees are giving him a hard time about it. Professional photos are apparently not a common occurrence around the Strada Services warehouse in Sanford, Florida. Giving the boss a hard time is. The building is long and low, mostly concrete and metal, with loading doors punched into its sides and a wide slab of pavement out front. Com...