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Former Microsoft CEO Steve Ballmer briefly outpaced the company&#8217;s co-founder, Bill Gates, in terms of wealth last week, as per Bloomberg&#8217;s Billionaires Index.
What Happened: Ballmer, who joined Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) in 1980, saw his wealth exceed that of Gates for a short period. The two are currently estimated to be worth $158 billion each, the Bloomberg <a href="https://www.bloomberg.com/billionaires/profiles/steven-a-ballmer/?sref=TBDibEcD">index</a> shows. Ballmer served as Microsoft&#8217;s CEO from 2000 to 2014, succeeding Gates in the role.
Ballmer&#8217;s extensive wealth has been invested in a variety of ventures, including sports and real estate. 
In 2014, he purchased the Los Angeles Clippers NBA team for a record $2 billion. He is also funding the construction of the Intuit Dome, an NBA arena in Inglewood, California, projected to cost $2 billion.
Ballmer has also invested in multiple properties in Washington state, where Microsoft is headquartered. In 2019, he and his wife, Connie Ballmer, bought a home adjacent to their existing residence in Hunts Point for $9.8 million.
Also Read: <a href="https://www.benzinga.com/news/24/02/37058173/heres-what-bill-gates-said-he-would-ask-a-time-traveler-from-the-year-2100">Here&#8217;s What Bill Gates Said He Would Ask A Time Traveler From The Year 2100</a>
In 2017, Ballmer launched USAFacts.org, a platform aimed at making government data accessible. He disclosed to The New York Times that he had spent over $10 million on the project.
Through their philanthropic efforts, the Ballmers have pledged $425 million to the University of Oregon for a children&#8217;s mental and behavioral health institute.
Why It Matters: Ballmer&#8217;s brief surpassing of Gates in wealth is a testament to his diverse investment portfolio and philanthropic efforts. 
His investments in sports and real estate, along with his commitment to making government data accessible, showcase his strategic approach to wealth accumulation and distribution. 
This event also underscores the dynamic nature of the world&#8217;s wealthiest individuals&#8217; rankings, which can fluctuate based on various factors, including market trends and personal investments.
Now Read: <a href="https://www.benzinga.com/news/24/06/39565739/warren-buffett-went-to-china-with-bill-gates-once-and-didnt-eat-chinese-food">Warren Buffett Went To China With Bill Gates Once — And Didn&#8217;t Eat Chinese Food</a>
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.
Photo: Shutterstock

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MSFT

Steve Ballmer Is Now Worth Just As Much As — If Not More Than — His Old Boss Bill Gates

CNBC's Jim Cramer is bullish on homebuilders despite recent stock performance.
Cramer analyzed earnings reports from Lennar and KB Home, which reported last week. While Wall Street favored KB Home, Cramer expressed optimism for both companies and the homebuilding sector.
"Interest rates might stay elevated, but the<a href="https://www.benzinga.com/real-estate/23/11/35948450/from-blueprint-to-bargain-new-homes-dominate-real-estate-landscape-as-listings-dwindle-and-construct"> housing shortage</a> remains a significant factor," Cramer said.
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Cramer highlighted the seemingly contradictory market behavior — homebuilder stocks surged early in the year on expectations of rate cuts but have since stalled due to the Federal Reserve's more cautious approach.
While Lennar and KB Home exceeded Wall Street's expectations, Cramer identified factors causing investor caution toward Lennar.
He pointed out concerns regarding Lennar's guidance, which seemed mixed. Management mentioned "increased sales incentives." This could signal a less optimistic view of housing<a href="https://www.benzinga.com/real-estate/24/06/39402121/buyer-freeze-over-60-of-homes-linger-on-market-amid-soaring-prices-and-high-interest-rates"> demand</a>. Lennar's proposed spinoff might have raised concerns about the company's long-term housing market outlook.
In contrast, KB Home's stock rose after it raised its full-year housing revenue forecast. &nbsp; Cramer pointed out that KB Home didn't heavily discuss using incentives to boost sales, which some investors viewed favorably.
Trending: Elon Musk&#8217;s secret mansion in Austin revealed through court filings.<a href="https://www.benzinga.com/money/elon-musk-secret-mansion-austin-nada"> Here&#8217;s how to invest in the city&#8217;s growth before prices go back up.</a>
Cramer said he prefers KB Home's approach and is more optimistic about Lennar than Wall Street analysts. He noted the companies are taking different paths:
<ul>
<li>KB Home prioritizes price stability over maximizing sales volume. This suggests they're less concerned about building up excess inventory.</li>
<li>Lennar is more focused on managing inventory levels. This translates to higher deliveries and order fulfillment.</li>
</ul>
"If we get any relief on the interest rate front, Lennar's results suggest that could bring in a new wave of buyers, which is why I think this housing bull market is far from over," Cramer said.
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<li>This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.</li>
</ul>

Real Estate

Housing Market Crash Fears? Jim Cramer Says Hold On — These Homebuilder Stocks Might Surprise You

Jerome Powell, the chair of the Federal Reserve, will testify before Congress this week amidst signs of slowing <a href="https://www.benzinga.com/topic/interest-rates">inflation and a softening economy.</a>
What Happened: With the economy showing signs of slowing growth and employment, Powell is expected to inform lawmakers that the Federal Reserve officials require more evidence of this slowdown before considering a cut in interest rates.
The consumer price index data for June, set to be released on Thursday, could provide further evidence supporting this stance. However, this data will be released after Powell&#8217;s two-day Congressional testimony, which begins on Tuesday with the Senate Banking Committee and continues on Wednesday with a House panel, <a href="https://www.bloomberg.com/news/articles/2024-07-06/global-economy-fed-s-powell-testifies-as-us-inflation-hiring-cool?srnd=homepage-americas&amp;sref=TBDibEcD">reported</a> Bloomberg.
Recent statistics have shown the highest unemployment rate since late 2021, and other data indicates weaker economic growth. Consequently, Powell is likely to face tough questions from lawmakers about the Fed&#8217;s reluctance to lower borrowing costs.
Also Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39623498/fed-minutes-policymakers-are-not-in-rush-to-cut-interest-rates-decision-hinges-on">Fed Minutes: Policymakers Are Not In Rush To Cut Interest Rates, Decision Hinges On Economic Data</a>
On Tuesday, Powell stated that recent data suggests inflation is returning to a downward trend, but he and his colleagues would like to see this progress continue.
The core CPI, which excludes food and energy costs and is seen as a better measure of underlying inflation, is expected to rise 0.2% in June for a second month. This would mark the smallest back-to-back gains since August, a pace more acceptable to Fed officials.
Why It Matters: As the head of the Federal Reserve, Powell&#8217;s testimony is crucial in setting the tone for economic policy. His comments on the state of the economy, inflation and employment growth will be closely watched by lawmakers, economists and investors alike.
The Fed&#8217;s decision on interest rates impacts borrowing costs for consumers and businesses, affecting everything from mortgage rates to the cost of business loans. A decision to cut rates could stimulate economic growth, but could also lead to inflation.
With recent data showing a slowdown in the economy and employment growth, Powell&#8217;s testimony will be a key indicator of the Fed&#8217;s future policy direction.
Now Read: <a href="https://www.benzinga.com/economics/macro-economic-events/23/12/36272799/wall-street-banks-readjusts-2024-interest-rate-predictions-after-feds-dovish-turn">Wall Street Banks Readjusts 2024 Interest Rate Predictions After Fed&#8217;s Dovish Turn</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Economics

Federal Reserve

Economic Slowdown: Powell On The Hot Seat Before Congress, To Testify Amid Rising Unemployment Rates

Credible Crypto, a renowned cryptocurrency analyst, forecasts an approximately 80% surge for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) following the current correction phase. However, he cautions about a possible intensification in the correction&#8217;s momentum.
What Happened: In a post on X last week, the analyst said he remains optimistic about Bitcoin&#8217;s long-term future. Despite the cryptocurrency surpassing the $60,000 mark, he asserts that the bull-market structure remains unscathed.
Credible Crypto anticipates that Bitcoin could experience substantial rallies after the correction, but a new uptrend might take some time to commence. 
He stated, "Spot buyers don't have to be too worried here in my opinion – as per prior updates, we can technically fall a lot lower on the high time frame without invalidating the higher time frame bullish structure, and what comes after this correction is our next major leg to $100,000.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stopped out of my longs overnight- gave back a lot of my recent gains but it is what it is. We haven&#39;t yet hit the 56k lows (just above them now) but it seems like those lows will be taken sooner or later and that officially opens the door to the 53k region as the next major… <a href="https://t.co/A22H7wTO8Q">pic.twitter.com/A22H7wTO8Q</a>
&mdash; CrediBULL Crypto (@CredibleCrypto) <a href="https://twitter.com/CredibleCrypto/status/1808894826433126679?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
At the time of writing, Bitcoin was trading at $56,826.62, suggesting a potential upside of nearly 80% if it reaches the analyst&#8217;s target. 
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39447328/anthony-scaramucci-says-crypto-will-soar-if-this-presidential-candidate-wins-the-election-" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says Crypto Will Soar If This Presidential Candidate Wins The Election: ‘I Think We&#8217;ll See All-Time Highs For Bitcoin And Other Assets&#8217;</a>
However, he also cautioned about a potential increase in the correction&#8217;s momentum due to rising levels of open interest, which refers to the total number of unsettled contracts. High levels of open interest, along with Bitcoin holders selling their coins on the spot market, could result in a more prolonged BTC downtrend, according to the analyst.
&#8220;If you are going to be buying on the way down you need to be OK with being underwater for a bit. If you don&#8217;t think you can do that, wait for number 1 above to play out before dipping your toes in. With that being said, I will see you all soon on the other side,&#8221; he added. 
Why It Matters: This prediction comes in the wake of another crypto analyst, Rekt Capital, warning about a potential further correction for Bitcoin. 
Last week, the Rekt Capital speculated that Bitcoin could correct to much <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39565057/bitcoin-may-face-another-correction-dropping-to-55-000-predicts-crypto-analyst">lower levels, potentially dropping to $55,000</a>. 
This forecast aligns with Credible Crypto&#8217;s warning about a possible increase in the correction&#8217;s momentum, further emphasizing the volatile nature of the cryptocurrency market.
Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39241558/analyst-predicts-bitcoin-to-reach-groundbreaking-100-000-milestone#google_vignette" target="_blank" rel="noreferrer noopener">Analyst Predicts Bitcoin To Reach Groundbreaking $100,000 Milestone</a>
Photo: Shutterstock

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

Cryptocurrency

Markets

$BTC

Bitcoin's Bullish Future: Analyst Predicts 80% Rally After Correction, But Here's The Catch

A new report from consumer research firm Hearts &amp; Wallets reveals that <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/06/39447584/generation-x-unprepared-for-retirement-250-000-median-savings-wont-last-20-ye">Generation X stands</a> to inherit trillions of dollars from the Silent Generation over the next 10 years, presenting significant opportunities and challenges for financial advisors.
Currently, the 65-74 age group holds the highest wealth at $22.4 trillion. In a decade, an estimated 23 million households will be 75 or older, with another 5.6 million reaching 85+. The nearly 16 million people aged 75+ today control about $15.5 trillion in assets, according to <a href="https://www.investmentnews.com/planning/news/gen-x-could-get-trillions-in-inheritance-over-10-years-254961">InvestmentNews</a>.
Laura Varas, CEO of Hearts &amp; Wallets, emphasizes that this wealth transfer primarily involves the Silent Generation and Gen X, not Boomers and Millennials. She notes that inheritances, even modest ones, often prompt recipients to focus on their own financial planning.
The study found that those inheriting $500,000 or more are generally financially savvy, with 35% having taxable brokerage accounts and 60% considering themselves somewhat familiar with investing. These individuals are often open to advice, but may have already dismissed unsatisfactory financial service providers.
Also Read: <a href="https://www.benzinga.com/markets/asia/24/07/39652085/will-the-magnificent-7-eclipse-chinas-economy-in-2024-heres-what-to-look-for">Will The Magnificent 7 Eclipse China&#8217;s Economy In 2024? Here&#8217;s What To Look For</a>
Varas highlights the complexities of handling estates, drawing from personal experience. She stresses the need for improved advice and service in this area, citing instances of misguided recommendations and poor communication she encountered while managing family estates.
Financial advisors have significant opportunities to assist with inheritance and wealth transfers. The report shows that among U.S. households receiving inheritances, over half are under $100,000, 30% are between $100,000 and $500,000, and 14% are higher.
Advisors working with older clients are encouraged to build relationships with younger family members. While Gen Xers may have existing financial relationships, they might be open to working with their parents&#8217; advisors if the service is exceptional. Varas notes that people now typically work with 8-13 financial services providers, up from 1-3 in the past.
As this massive wealth transfer unfolds, financial advisors who can navigate the complexities of estate planning and provide superior service stand to benefit from this generational shift in assets.
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Image via Unsplash

Financial Advisors

Education

Personal Finance

General

Gen Z Will Have To Wait As Gen X Set To Inherit Trillions From Silent Generation

As the <a href="https://www.benzinga.com/general/politics/24/06/39563409/heres-how-many-people-watched-the-2024-presidential-debate-and-how-fox-beat-cnn-at-its-own-game">first presidential debate</a> shifted the political landscape leading up to the Nov. 5 election, former White House Communications Director Anthony Scaramucci weighed in on what&#8217;s in store for President Joe Biden.
Critical Few Weeks Ahead: Biden will be out of the race by the end of July, <a href="https://www.youtube.com/watch?v=b8uEmOleC5o&amp;t=366s">said</a> Scaramucci in the latest episode of the &#8220;Rest Is Politics US&#8221; podcast aired on Thursday. It&#8217;s unlikely the president finishes his term, he said, adding that some people inside the campaign have described the upcoming period as the &#8220;most consequential few weeks in American modern history.&#8221;
This, according to the former White House aide, implies that &#8220;we are going to get a President [Kamala] Harris.&#8220;
&#8220;The thought would be that he resigns from office and she runs as President Harris,&#8221; he said.
Scaramucci highlighted the potential for discomfort among some people, given the racial divide and existing tensions in the country. He added, however, that this development would significantly benefit the Democratic party&#8217;s progressive wing, as she would become the first woman president in U.S. history and the first woman of color to hold the office.
See Also: <a href="https://www.benzinga.com/news/24/07/39655190/biden-vs-trump-debate-performance-hurts-president-but-this-factor-could-still-keep-him-in-contention">Biden Vs. Trump: Debate Performance Hurts President But This Factor Could Still Keep Him In Contention</a>
Harris&#8217; candidacy: This could also address many campaign finance issues, said the SkyBridge Capital founder, adding that the party can support Harris with a very credible vice-presidential candidate. He noted that <a href="https://www.benzinga.com/markets/equities/24/06/39563622/is-kamala-harris-the-answer-to-joe-bidens-shortcomings-poll-hints-at-voter-sentiment-toward-poss">Harris&#8217; poll numbers versus Donald Trump are inside the margin of error</a> — at least for now. The Trump campaign is aware of this and, as a result, has been running aggressive attack ads, he said.
Scaramucci said Trump will viciously attack Harris, adding that the current vice president is way better than people think. 
&#8220;This is a different Kamala Harris, this is a more mature Kamala Harris,&#8221; he said. &#8220;Interesting it would be if the orange maniac known as Donald Trump was beaten by her in the election &#8230;There&#8217;s a lot of things about his fragile ego, but that&#8217;s one he wouldn&#8217;t be able to take.&#8221;
Frail Biden: Scaramucci said he attended a Democratic fundraiser where the president looked frail. He explained that while Biden might have been more coherent and clear-headed compared to the first presidential debate, his intellectual insecurity was still evident.
The president seemed to feel comfortable speaking with a teleprompter for 15 minutes and left without taking questions, Scaramucci said.
&#8220;That&#8217;s a very unusual thing for American politician to do with his VVIPs at a very posh Hampton&#8217;s beachfront house, but that&#8217;s what he did and it&#8217;s an indication that things are not well with him cognitively,&#8221; he said. 
Why It&#8217;s Important: The betting market has begun pricing in the probability of Biden quitting. According to Polymarket, there&#8217;s a 16% chance of the president quitting by July 12. Biden is still projected to have 46% chance of being the Democratic nominee compared to Harris&#8217; 37% odds.
A recent CNN poll found that 75% of registered voters said the Democrats' chances in 2024 would be better if the nominee were someone other than Biden. A more significant finding was that Harris was within striking distance of Trump in a hypothetical matchup, with 47% of registered voters supporting Trump and 45% supporting Harris. Since the result was within the margin of error, there was no clear leader under such a scenario.
Read Next:
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<li><a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a></li>
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Photo: Shutterstock

Politics

Media

Scaramucci Says Kamala Harris Will Likely Run For Office As Biden May Not Finish His Term: 'Interesting ... If The Orange Maniac known as Donald Trump Was Beaten By Her'

The GLP-1 drug market for obesity treatment is expected to skyrocket to $1 trillion or more, according to Maurits Pot, founder and CEO of Tema ETFs, who shared this optimistic forecast in an <a href="https://www.benzinga.com/exclusives">exclusive interview with Benzinga.</a>
&#8220;Our view is that in the long term, this is not a two-horse race between Eli Lilly Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>),&#8221; Maurits stated, challenging the prevailing notion of a duopoly in the weight-loss market.
Pot predicts that rising demand for weight loss treatments and expanded applications for GLP-1 drugs will drive this trillion-dollar market opportunity.
In November 2023, Tema ETFs launched the Tema GLP-1, Obesity and Cardiometabolic ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTS#NYSE">HRTS</a>), the first ETF focused on weight loss. Since inception, the fund has risen 25%, slightly outpacing the performance of the S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
The ETF's major holdings include Eli Lilly and Company, Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Novo Nordisk A/S, and Alnylam Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>), each with about 5-6% weight. The HRTS portfolio also comprises over 40 other weight-loss related companies.
Chart: Tema GLP-1, Obesity And Cardiometabolic ETF Outperforms S&amp;P 500 Since Inception
<figure class="wp-block-image size-large"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent070524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="652" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05152109/image-10-1024x652.png" alt="" class="wp-image-422177" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05152109/image-10-1024x652.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05152109/image-10-300x191.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05152109/image-10-768x489.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05152109/image-10-1536x978.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05152109/image-10.png 1662w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Chart: <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent070524&amp;t=be2bearmibe3na1">Benzinga Pro</a>
<h3 class="wp-block-heading">Weight-Loss Treatments: Broadening Applications And Innovations</h3>
According to Pot, GLP-1 drugs may soon find applications beyond weight loss, first in diabetes, and heart, liver and kidney diseases, then potentially treating conditions such as cancer, Alzheimer's, Parkinson's and other neurogenic diseases.
The conventional injection method faces challenges from new approaches focusing on oral administration or reduced dosage frequencies. Innovations aim to make treatments less invasive, such as moving from weekly injections to potentially once every two months, or much easier to manufacture, such as producing oral tablets.
Obesity leads to various diseases like diabetes, heart disease and cancer. Addressing obesity could thus mitigate multiple health issues, amplifying the market potential for GLP-1 drugs.
This market is expected to extend beyond Eli Lilly and Novo Nordisk, addressing multiple&nbsp;diseases&nbsp;areas.
&#8220;We could see a world where half the world&#8217;s population takes GLP-1 or other weight loss drugs, but for different reasons including for primary prevention&#8221; Pot noted, citing uses for obesity, diabetes and potentially even Alzheimer&#8217;s or cancer.
<h3 class="wp-block-heading">Projections Behind The $1 Trillion Estimate</h3>
The global number of obese individuals is expected to double from 1 billion to 2 billion by 2035. Even without this growth, the existing 1 billion obese people represent a substantial market.
If long-term treatment reaches only 20% of&nbsp;today's&nbsp;obese population, similar to the current&nbsp;penetration&nbsp;rate for diabetes drugs, that equates to 200 million individuals. Assuming a price reduction from $12,000 to $6,000 per person annually, the market for GLP-1 drugs could surpass $1 trillion, Pot explained.
Goldman Sachs estimates the market at $100-130 billion, but Pot believes it could reach $1 trillion even before considering speculative applications for cancer, Alzheimer's and Parkinson's. The market's size is consistently underestimated, with estimates rising every few months.
Patent expirations will also shape the market. In the U.S., patents&nbsp;for Ozempic/Wegovy&nbsp;run out in 2032, in Europe in 2031, and in China in 2026.&nbsp;
&#8220;We think it's a trillion-dollar market before the patents run out,&#8221; Pot stated. 
<h3 class="wp-block-heading">Focus On Small-, Mid-Caps</h3>
When asked why investors should focus on a diversified basket of weight-loss-related stocks instead of a few heavyweights, Pot explained &#8220;the impact of positive clinical results in this enormous market for small and med-cap biotechs is much higher&#8221; unlike larger firms such as Eli Lilly. 
He underscored the importance of having mega caps as portfolio balance but notes that smaller companies may offer higher returns in the long term.
Pot highlighted that the biotech sector is ripe with mergers and acquisitions. Last year alone, there were 22 biotech M&amp;A deals exceeding $1 billion U.S in value.
Major health care&nbsp;companies without an obesity business, like Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), and Abbvie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), are likely to seek acquisitions.
Read Now:
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<li><a href="https://www.benzinga.com/markets/asia/24/06/39143220/exclusive-tema-american-reshoring-etf-outshines-s-p-500-without-owning-magnificent-7-stocks-they-can">EXCLUSIVE: Tema American Reshoring ETF Outshines S&amp;P 500 Without Owning Magnificent 7 Stocks — &#8216;They Can No Longer Manufacture In China&#8217;</a></li>
</ul>
Photo: Shutterstock

Biotech

Equities

Large Cap

Sector ETFs

Health Care

Small Cap

Global

Exclusives

Tech

ETFs

ABBV

ALNY

AMGN

HRTS

EXCLUSIVE: GLP-1 Weight-Loss Drugs Could Become A Trillion-Dollar Market, Predicts Tema ETFs CEO

The past week has been a whirlwind of activity, with tech giants and industry leaders making headlines. From Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) impressive performance to Elon Musk&#8217;s massive investment in AI, there&#8217;s a lot to catch up on. Let&#8217;s dive into the top stories that shaped the week.
A Non-Tech Company Outperforms Nvidia and Super Micro
Seven of the top ten best-performing S&amp;P 500 stocks over the past year were tech companies. However, the company that topped the list was not a tech company but a utility company, Vistra Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VST#NASDAQ">VST</a>), which gained over 250% over the past year. Nvidia and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) took the second and third positions with gains of 239% and 203%, respectively.
<a href="https://www.benzinga.com/24/07/39640232/jim-cramer-shuns-this-stock-but-it-has-left-nvidia-super-micro-biting-the-dust-on-one-year-returns">Read the full article here.</a>
Nvidia CEO Cashes In
Nvidia CEO Jensen Huang sold over $29 million worth of shares amid the company's remarkable stock market performance. Huang&#8217;s total sales over the past three weeks amounted to $184 million. Nvidia's stock reached its peak in June, driving the company's market value to over $3 trillion.
<a href="https://www.benzinga.com/markets/equities/24/07/39611550/nvidia-ceo-jensen-huang-sells-over-29m-worth-of-shares-as-companys-stock-shoots-up-155-in-2024-a">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/06/39497848/mark-zuckerbergs-pr-team-couldnt-stop-him-from-posting-my-spine-has-been-surgically-removed-said-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg&#8217;s PR Team Couldn&#8217;t Stop Him From Posting: &#8216;My Spine Has Been Surgically Removed&#8217;</a>
Musk&#8217;s Massive Investment in AI
Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and founder of xAI, revealed that the upcoming version of his AI chatbot, Grok 3, will be trained on a staggering 100,000 Nvidia H100 chips. These chips are crucial for handling data processing in large language models and are highly sought after in Silicon Valley.
<a href="https://www.benzinga.com/news/24/07/39594885/elon-musk-reveals-the-staggering-amount-of-nvidia-h100-gpus-that-will-be-used-to-train-xai-chatbot-g">Read the full article here.</a>
Peter Thiel&#8217;s Insights on AI
Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) co-founder Peter Thiel shared his insights on artificial intelligence, Nvidia, and ChatGPT-parent OpenAI at the Aspen Ideas Festival. Thiel drew parallels between the dot-com bubble of '99 and the current state of AI.
<a href="https://www.benzinga.com/news/24/07/39569675/palantirs-peter-thiel-says-its-very-strange-that-most-money-in-ai-is-being-made-by-only-one-company">Read the full article here.</a>
&#8216;Rich Dad Poor Dad&#8217; Author Predicts Market Crash
Robert Kiyosaki, author of &#8220;Rich Dad Poor Dad,&#8221; warned of an impending market crash, followed by a long-term bull run for gold, silver, and Bitcoin. Kiyosaki predicted a historic crash in the prices of real estate, stocks, bonds, gold, silver, and Bitcoin, followed by a subsequent bull market cycle starting in late 2025.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39627834/rich-dad-poor-dad-author-robert-kiyosaki-says-charts-indicate-biggest-crash-in-history-com">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/23/07/33239256/how-to-cast-harry-potter-spells-with-siri-on-your-iphone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Cast &#8216;Harry Potter&#8217; Spells With Siri On Your iPhone</a>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

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Nvidia's Dominance, AI Investments, And A Predicted Market Crash: This Week In Artificial Intelligence

This past week was a whirlwind of activity in the world of cryptocurrencies, finance, and politics. From Robert Kiyosaki&#8217;s dire market predictions to the shifting odds in the 2024 presidential race, it was a week to remember. Let&#8217;s dive into the top stories.
Robert Kiyosaki Predicts &#8216;Biggest Crash in History&#8217;
Best-selling author Robert Kiyosaki sent shockwaves through the financial world this weekend with his prediction of an imminent market crash. Kiyosaki, renowned for his book &#8220;Rich Dad Poor Dad,&#8221; anticipates a historic plunge in the prices of real estate, stocks, bonds, gold, silver, and Bitcoin. However, he also sees a silver lining, forecasting a bull market cycle beginning in late 2025 that could benefit gold, silver, and Bitcoin investors.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39627834/rich-dad-poor-dad-author-robert-kiyosaki-says-charts-indicate-biggest-crash-in-history-com">Read the full article here.</a>
Crypto Bettors See Harris as Possible Presidential Candidate
The odds of Vice President Kamala Harris replacing President Joe Biden as the Democratic nominee for the 2024 presidential elections saw a significant increase on Polymarket, a cryptocurrency-based prediction market. While Biden remains the top pick, the substantial surge in Harris&#8217; chances indicates a notable shift in sentiment.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39627834/rich-dad-poor-dad-author-robert-kiyosaki-says-charts-indicate-biggest-crash-in-history-com?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Rich Dad Poor Dad&#8217; Author Robert Kiyosaki Says Charts Indicate &#8216;Biggest Crash In History Coming&#8217;</a>
Cryptocurrency Market in Meltdown
The cryptocurrency market experienced a significant downturn this week, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) hitting their lowest points in weeks. The market&#8217;s decline was largely attributed to the movement of billions of Bitcoins ahead of a probable sell-off.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39638571/bitcoin-ethereum-dogecoin-in-full-meltdown-as-mt-gox-moves-2-7b-to-new-wallet-king-crypto-">Read the full article here.</a>
Trump&#8217;s Potential Election Win Could Impact Crypto
Pratik Kala, Head of Research at DigitalX Limited, predicts a Trump victory in the upcoming election but warns that immediate crypto-friendly regulations may not be a priority. Kala&#8217;s prediction is based on his belief that President Biden failed to appear &#8220;lively and energetic&#8221; during the debate.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39581531/trump-winning-the-election-would-be-major-catalyst-for-crypto-to-surge-says-investment-exp">Read the full article here.</a>
Shiba Inu&#8217;s Burn Rate Skyrockets
The &#8216;Dogecoin Killer,&#8217; Shiba Inu, reported a surging burn rate over the week, with community news hinting at a significant upcoming development. The burn rate increased by 8,596.6% over 24 hours as of Wednesday, with more than 17 million SHIB burned across three transactions.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39615964/dogecoin-killer-shiba-inus-burn-rate-skyrockets-8-596-something-special-is-cooking-says-ma">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39615964/dogecoin-killer-shiba-inus-burn-rate-skyrockets-8-596-something-special-is-cooking-says-ma?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Burn Rate Skyrockets 8,596%: &#8216;Something Special&#8217; Is Cooking</a>
Image created via photos on Shutterstock
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

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Crypto Weekend Round-Up: Kiyosaki Forecasts Crash, Crypto Bettors Back Harris, Trump's Potential Impact On Crypto And More

As we wrap up the week, it&#8217;s clear that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has been making significant moves. From a strategic shift towards artificial intelligence to an observer role at OpenAI, the tech giant has been busy. Additionally, there&#8217;s been an extension on the iPhone settlement deadline, rumors of major changes for the next-gen Vision Pro, and a potential AI partnership with Google. Let&#8217;s dive into the details.
Apple&#8217;s Strategic Shift Towards AI and Software
According to Bloomberg columnist Mark Gurman, Apple is reportedly focusing more on artificial intelligence and software as its hardware innovation slows down. Gurman noted that Apple&#8217;s devices are designed to last longer, making it harder to entice consumers to upgrade regularly.
<a href="https://www.benzinga.com/news/24/06/39566828/apple-hardware-now-lasts-longer-and-this-is-making-the-iphone-maker-pivot-toward-ai-and-software-say">Read the full article here.</a>
Apple&#8217;s Observer Role at OpenAI
Apple is set to secure an observer role on the board of ChatGPT-parent OpenAI, matching the position of Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>). Phil Schiller, Cupertino's former marketing chief, has been chosen for this role, gaining insights into the company's decision-making process.
<a href="https://www.benzinga.com/24/07/39611089/top-apple-executive-phil-schiller-to-join-openai-board-as-observer-giving-iphone-maker-equal-status">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/06/39562120/mark-zuckerberg-says-meta-set-to-unveil-full-holographic-glasses-every-person-who-ive-shown-it-to-so?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Says Meta Set To Unveil &#8216;Full Holographic&#8217; Glasses</a>
Extended Deadline for iPhone Settlement
The deadline for iPhone 7 and iPhone 7 Plus users to claim a portion of the $35 million settlement fund has been extended. The lawsuit, filed against Apple in 2019, addressed alleged audio issues linked to the "audio IC" chip in these devices.
<a href="https://www.benzinga.com/news/24/07/39568912/apple-iphone-settlement-deadline-extended-users-get-extra-time-to-file-claims-to-get-up-to-349">Read the full article here.</a>
Major Changes for Next-Gen Vision Pro
Apple is reportedly working on the next generation of its Vision Pro headset, with rumors suggesting significant changes in design and pricing. The tech giant is developing two variants of the second-generation headset, one premium and one more affordable.
<a href="https://www.benzinga.com/news/24/07/39589968/apples-next-gen-vision-pro-to-feature-major-design-and-price-changes-heres-what-we-know-so-far">Read the full article here.</a>
Apple&#8217;s AI Partnership with Google
Apple is reportedly set to announce a partnership with Alphabet Inc.'s (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>) Google Gemini in the fall. The deal will incorporate Google Gemini into Apple devices, aligning with the iOS 18 chatbot rumors.
<a href="https://www.benzinga.com/news/24/07/39568584/apple-ai-partnership-with-google-set-for-fall-mark-gurman-says-hes-heard-from-several-sources-the-de">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/07/39594885/elon-musk-reveals-the-staggering-amount-of-nvidia-h100-gpus-that-will-be-used-to-train-xai-chatbot-g?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reveals The Staggering Amount Of Nvidia H100 GPUs That Will Be Used To Train xAI Chatbot Grok</a>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

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Apple's AI Shift, Board Observer Role At OpenAI, Extended iPhone Settlement Deadline, And AI Partnership With Google: This Week In Appleverse

The past week has been a whirlwind of market predictions and economic insights. From Federal Reserve Chair Jerome Powell&#8217;s warning about the U.S. debt path to Robert Kiyosaki&#8217;s prediction of a historic market crash, the financial world has been buzzing with speculation and analysis. Here&#8217;s a recap of the top stories that made headlines over the weekend.
Fed Chair Powell Sounds Alarm on U.S. Debt
Speaking at the ECB Forum on Central Banking, Federal Reserve Chair Jerome Powell highlighted the United States&#8217; unsustainable debt path. He also downplayed the risks of possible attacks on central bank independence. Powell emphasized the need for a cautious approach to potential interest rate cuts, stating that more data is needed before considering such moves.
<a href="https://www.benzinga.com/markets/bonds/24/07/39600702/fed-chair-powell-warns-of-unsustainable-us-debt-path-downplays-risks-of-possible-trump-attacks-on-c">Read the full article here.</a>
&#8216;Rich Dad Poor Dad&#8217; Author Predicts &#8216;Biggest Crash In History&#8217;
Best-selling author Robert Kiyosaki has warned of an impending market crash, followed by a long-term bull run for gold, silver, and Bitcoin. Kiyosaki, the author of the popular book "Rich Dad Poor Dad", predicts a historic crash in the prices of real estate, stocks, bonds, gold, silver, and Bitcoin. However, he also forecasts a subsequent bull market cycle starting in late 2025.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39627834/rich-dad-poor-dad-author-robert-kiyosaki-says-charts-indicate-biggest-crash-in-history-com">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39594060/trump-win-in-2024-would-lead-to-stronger-growth-and-higher-inflation-expert-predict?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Win In 2024 Would Lead To &#8216;Stronger Growth And Higher Inflation,&#8217; Expert Predicts Fed To Factor In Election Results In Rate Cut Plans</a>
Trump&#8217;s Potential 2024 Win Could Boost Growth and Inflation
David Zervos, Chief Market Strategist at Jefferies, suggests that a Trump victory in the 2024 presidential election could lead to stronger economic growth and higher inflation. Zervos believes that the Federal Reserve might need to reconsider potential rate cuts in light of these possibilities.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39594060/trump-win-in-2024-would-lead-to-stronger-growth-and-higher-inflation-expert-predict">Read the full article here.</a>
Jim Cramer&#8217;s Market Strategy: Interest Rates and Stock Buying
Jim Cramer, the host of CNBC's "Mad Money," has advised investors to consider buying &#8220;Mag 7&#8221; stocks when interest rates rise and to buy everything when rates fall. Cramer emphasizes that the market shows resilience when oversold and discusses his approach to navigating market fluctuations based on interest rate movements.
<a href="https://www.benzinga.com/markets/equities/24/07/39588207/jim-cramer-has-a-market-strategy-interest-rates-up-buy-mag-7-rates-down-buy-everything">Read the full article here.</a>
Paul Krugman Weighs in on Trump Tariffs
Nobel laureate and noted economist Paul Krugman has weighed in on the ramifications of replacing taxes with tariffs, a policy move rumored to be favored by Donald Trump. Krugman argues that such tariffs would hurt 80% of Americans and only benefit the top 1%, with the burden falling on the working class and the poor.
<a href="https://www.benzinga.com/news/24/07/39630382/paul-krugman-says-trump-tariffs-will-hurt-80-of-americans-benefit-only-the-top-1-burden-would-fall-o">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39620397/june-jobs-report-preview-cooling-labor-market-trends-may-further-bolster-rate-cut-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">June Jobs Report Preview: Cooling Labor Market Trends May Further Bolster Rate Cut Hopes</a>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Powell's Debt Warning, Cramer's Market Strategy, And Krugman On Trump Tariffs: This Week In Economics

The past week was bustling with political news, from former President Donald Trump&#8216;s contentious remarks about Vice President Kamala Harris to discussions about age limits for presidential candidates. Let&#8217;s delve into the top stories that made headlines.
Trump&#8217;s Unfounded Claims Stir Controversy
A leaked video surfaced showing former President Trump making unfounded allegations about President Joe Biden and Vice President Harris. Trump was recorded at his golf course making baseless claims about having forced Biden out of the presidential race and disparaging Harris. Despite Trump's assertions, Biden confirmed that he is still in the race.
<a href="https://www.benzinga.com/news/24/07/39638541/trumps-unfounded-claims-kamala-harris-stir-controversy-shes-so-bad-shes-so-pathetic">Read the full article here.</a>
Age Requirement for US Presidents?
The age of the leading presidential candidates has become a hot topic ahead of the 2024 election. A recent Benzinga poll revealed that 90% of respondents believe there should be a maximum age requirement for the US presidency. The topic gained traction after the recent presidential debate hosted by Warner Bros. Discovery.
<a href="https://www.benzinga.com/general/politics/24/07/39580962/exclusive-benzinga-poll-finds-90-think-us-president-should-have-maximum-age-requirement">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39618512/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-tesla-she-always-reports-right-before-a-hol?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nancy Pelosi Loads Up On More Nvidia Shares, Sells Tesla: &#8216;She Always Reports Right Before A Holiday&#8217;</a>
Nancy Pelosi&#8217;s Stock Trades
Former Speaker of the House Nancy Pelosi disclosed several new stock trades ahead of the Fourth of July holiday. Pelosi&#8217;s trading activity, particularly the large purchases made by her husband Paul Pelosi, has been closely watched amid growing calls to ban members of Congress from buying and selling stocks and options.
<a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39618512/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-tesla-she-always-reports-right-before-a-hol">Read the full article here.</a>
Biden Vs. Trump: The Race Continues
Despite a forgettable debate performance, President Biden managed to close his gap with Trump, according to a recent Reuters/Ipsos poll. The poll showed Biden and Trump each receiving 40% support, marking an improvement for Biden from a previous poll.
<a href="https://www.benzinga.com/news/24/07/39628794/biden-vs-trump-new-poll-shows-president-still-very-much-in-race-despite-debate-fiasco-but-final-outc">Read the full article here.</a>
Nikki Haley&#8217;s Prophecy
Former U.S. Ambassador to the United Nations, Nikki Haley, reminded ABC's George Stephanopoulos of her prediction last year that President Biden might not complete his term. Haley&#8217;s comments came as Stephanopoulos was revealed to have become the first journalist to interview the president after his subpar performance in the first presidential debate.
<a href="https://www.benzinga.com/news/24/07/39611028/nikki-haley-reminds-george-stephanopoulos-of-her-prophecy-that-joe-biden-isnt-going-to-finish-his-te">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/07/39628794/biden-vs-trump-new-poll-shows-president-still-very-much-in-race-despite-debate-fiasco-but-final-outc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump: New Poll Shows President Still Very Much In Race Despite Debate Fiasco</a>
Image created using photos from Shutterstock
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Weekly Politics Round-Up: Trump's Controversial Remarks About Biden, Pelosi's Stock Trades, And Presidential Age Debates

The Enhanced Games, an Olympics-style event permitting doping and supported by billionaire <a target="_blank" href="https://www.benzinga.com/topic/peter-thiel" rel="noreferrer noopener">Peter Thiel</a>, is reportedly in discussions to secure <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/07/39569413/billionaire-peter-thiel-voices-skepticism-on-bitcoins-future-growth-im-not-sure-its-going-" rel="noreferrer noopener">approximately $300 million in funding.</a>
Thiel <a target="_blank" href="https://www.forbes.com/profile/peter-thiel/" rel="noreferrer noopener">cofounded</a> Palantir Technologies Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) and PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>).
Christian Angermayer, co-founder of the London-based company, revealed in an interview that they have engaged in preliminary discussions with various investors, including sovereign wealth funds, to secure a blend of debt and equity financing for their inaugural competition scheduled for next year, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-05/peter-thiel-s-pro-doping-olympics-alternative-seeks-to-raise-300-million?sref=TBDibEcD" rel="noreferrer noopener">reported</a> Bloomberg.
Angermayer declined to disclose additional specifics regarding the terms.
In 2023, the Enhanced Games made a high-profile debut, announcing an annual event where athletes can use performance-enhancing drugs, Bloomberg aded.
Also Read: <a href="https://www.benzinga.com/news/24/07/39569675/palantirs-peter-thiel-says-its-very-strange-that-most-money-in-ai-is-being-made-by-only-one-company" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Peter Thiel Says It&#8217;s &#8216;Very Strange&#8217; That Most Money In AI Is Being Made By Only One Company: &#8216;…Which Silicon Valley Doesn&#8217;t Even Know Much About Anymore&#8217;</a>
The organization, supported by Balaji Srinivasan, a crypto investor and former Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) executive, features sports like track and field, swimming and weightlifting.
The concept has faced criticism from the International Olympic Committee and anti-doping authorities for its disregard of fair play and potential risks to athletes&#8217; health.
Performance-enhancing drugs are prohibited in most sports leagues and federations worldwide.
According to Angermayer, all competitors will undergo medical screenings and are limited to substances approved by the U.S. Food and Drug Administration, including anabolic steroids and growth hormones.
&#8220;I believe science is on my side,&#8221;&nbsp;Angermayer remarked, citing anonymous surveys indicating widespread doping among athletes in competitive sports.
A prolific investor, Angermayer has supported various companies through his family office, Apeiron Investment Group, focusing on biotech, longevity, and psilocybin-based therapeutics.
Apeiron has also invested in Venezia FC and partnered with Didier Drogba&#8217;s E1 Series team through its sports investment group Chiron.
The Enhanced Games started with approximately $10 million in initial capital.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39592355/palantirs-peter-thiel-highlights-impact-of-founders-citing-mark-zuckerbergs-example-of-not-selling-f" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Peter Thiel Highlights Impact Of Founders, Citing Mark Zuckerberg&#8217;s Example Of Not Selling Facebook To Yahoo For $1B: &#8216;If You Had A Professional CEO…&#8217;</a></li>
</ul>
Photo: <a href="https://flickr.com/photos/gageskidmore/">Gage Skidmore</a> via flickr

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Palantir Chair Peter Thiel's Pro-Doping Enhanced Games Aims To Raise $300M: Report

Personal finance expert <a href="https://www.benzinga.com/personal-finance/24/06/39563642/woman-working-3-jobs-struggling-with-a-lifetime-of-overdrafts-receives-an-unexpected-gift-from-d">Dave Ramsey</a> is known for his blunt advice. He has told people they need to work beyond their wages if they don't want to be broke. Here's what went down on an episode of "The Dave Ramsey Show."&nbsp;
Don't Miss:
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<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune —<a href="https://www.benzinga.com/money/advisor-adv-warren-buffett"> How much is that worth today?</a></li>
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During an episode of the personal finance help show, Ramsey was joined by team member Jade Warshaw as they discussed all things money. Ramsey is known for his hard-hitting advice, often delivered bluntly, and this advice he gave about broke people is certainly one of his bluntest. The episode was shared on Ramsey's social media account on X, formerly known as <a href="https://www.benzinga.com/news/24/07/39611906/ex-twitter-executive-steers-ai-startup-abnormal-security-to-5b-valuation-in-latest-funding-round-rep">Twitter</a>, and he wrote, "Most people are broke. They spend more than they have coming in." He's not wrong, as the latest findings have revealed that Americans are carrying record numbers of household debts from last year.&nbsp;
A study by MarketWatch found that at the start of 2024, household debt was at a record high of $17.3 trillion. This household debt includes auto loans, student loans, credit card loans and revolving debt. Out of all these, credit card debt increased the most between 2022 and 2023, and the state with the highest credit card debt is the District of Columbia. <a href="https://www.newyorkfed.org/newsevents/news/research/2024/20240514">The Federal Reserve Bank of New York's Center for Microeconomic Data</a> released its report on the rising debt, and Joelle Scally, Regional Economic Principal within the Household and Public Policy Research Division, said in the report, "An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households."&nbsp;
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Ramsey and Warshaw spoke about being broke and how more people are broke because of bad spending habits. During the episode, Ramsey told Warshaw, "You make $30,000, $40,000, $50,000 per year in America today, and you do rich people stuff for the next decade, you will not be poor anymore." Ramsey has often told people that the best way to build wealth is to start thinking like rich people. At first, you may think this means spending lots of money on luxuries, but this is inaccurate. For Ramsey, thinking and acting like the rich means being smart with your money and acting your wage.&nbsp;
Some ways to live like the rich include "Paying cash for things" and avoiding spending money on your credit card, as that's money you don't have. Ramsey once said on his show, "Think, think, think. Seriously, so credit cards — stupid, stupid."&nbsp;
Ramsey also encourages buying used cars instead of new ones. During an episode of his show in January, Ramsey called out car payments, saying they're stupid. He explained that people have so many loans and are in debt because they've wasted their money on a "stupid car payment to impress somebody at a stop light that you will never meet. And the thing&#8217;s going down in value like a rock." He called these car payments "stupid on steroids."&nbsp;&nbsp;&nbsp;&nbsp;
In addition to buying used cars, Ramsey urges viewers to avoid leasing stuff and not to "finance your freaking vacations," and to "stay out of the timeshare office." Thinking like rich people also means having long-term financial plans for themselves and their children. It also means living on less than you earn, prioritizing saving for your future, investing your money in things you understand, and avoiding more debt.&nbsp;
His biggest advice is to act on your wage: "If you don't want to be broke anymore, figure out what most people are doing and run in the other direction."&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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Dave Ramsey Lays Down The Law And Tells People If They Want Not To Be Broke, They Have To 'Act Their Wage'

When Klew Yeh Mori&#8217;s son entered his junior year at the University of Portland, she made an unconventional decision. Instead of writing another check for a dorm room or off-campus apartment, the Salt Lake City real estate agent bought a house.
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"I don&#8217;t have to waste money on rent anymore," Mori was quoted in a Realtor.com report. "Now we&#8217;re collecting rental income from his roommates to help with household expenses. It&#8217;s a win-win for me." 
Mori is part of a growing cohort of parents who are purchasing properties for their college-age children to live in. They view this as an investment strategy that can pay dividends both during and after their offspring&#8217;s academic careers. 
While not new, the trend has gained momentum as housing costs in many college towns have surged. Parents see an opportunity to build equity instead of paying for increasingly expensive dorms or rentals. "It&#8217;s almost certain that the demand will be there for rental properties in a college town," Samantha Sousa, a real estate broker, said in the Realtor report. "With college towns, property values historically rise, so if parents decide to sell after a few years, they will likely benefit from the equity built."
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The strategy isn&#8217;t without risks, though. Parents essentially become landlords, responsible for maintenance and potential property issues. The home can also become a party house if students aren&#8217;t mature enough to handle the responsibility. 
Jay Voorhees, founder of JVM Lending in Walnut Creek, California, has seen the strategy pay off. "I have seen investors make hundreds of thousands of dollars buying properties for their college-age kids to both live in and rent out to roommates," he said. 
In a blog post, Voorhees noted that parents can access more favorable owner-occupied financing rates if their child is on a loan. "A kid does not need any income to be on the loan, but she does need decent credit," he said. 
To that end, some parents are establishing their children&#8217;s credit early. "Heejin, my wife and co-founder, established her daughter&#8217;s credit immediately after high school by getting her credit cards and adding her as an authorized user to several of our cards," Voorhees said. "By the time she was a sophomore in college, she had sky-high credit scores."
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The strategy can have long-term benefits beyond the college years. Mori plans to keep the property as a rental after her son graduates. "When we sell it, Shoji and I can each pocket up to $250,000 profit without paying Uncle Sam," she said, referring to capital gains tax exemptions on primary residences. 
For Shoji, Mori&#8217;s 22-year-old son, managing the property has been an education. "I run the household, collect the rent, and pay all the house bills out of a designated account," he told Realtor.com. "I&#8217;m doing things like changing the garbage disposal, staining the deck, and fixing the dishwasher. This situation forced me to put on my big-boy pants and figure stuff out." 
Not all markets are equally suited for this strategy. Jameson Tyler Drew, president of Anubis Properties in Whittier, California, points to Muncie, Indiana, where a house near Ball State University can be purchased for under $150,000. "After taxes and fees, this comes out to about an $860 payment with 20% down. Or you could rent the home next door for $850 a month," Drew said. "For those who can afford it, it&#8217;s a no-brainer." 
However, the calculus is different in more expensive markets like Portland, where Mori bought. In 2022, she paid $970,000 for the property, winning a bidding war for a home initially priced at $820,000.
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College Students And Parents Are Opting For Real Estate Investments Over Dorms — 'For Those Who Can Afford It, It's A No-Brainer.'

President Joe Biden&#8217;s own party members, his ardent backers and Democratic megadonors have stepped up calls for him to quit the race following his <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39625294/2024-election-betting-odds-react-to-biden-debate-disaster-trump-odds-hit-all-time-high-kam">abysmal debate performance</a>, reportedly sending a private letter on Friday urging him to do so.
What Happened: In the letter, which was organized by the &#8220;Leadership Now Project,&#8221; a prominent group of political donors, civic leaders and business executives said, &#8220;We respectfully urge you to withdraw from being a candidate for reelection for the sake of our democracy and the future of our nation,&#8221; <a href="https://www.washingtonpost.com/politics/2024/07/05/letter-biden-withdraw-leadership-now-project/">according</a> to the Washington Post.
The letter was signed by 168 people and continued to gain signatures even after its delivery to senior White House officials, the report said. It was reportedly delivered to multiple White House advisers.
Leadership Now Project, founded in 2018, works toward mitigating threats to democratic norms as well as &#8220;protect and renew American democracy.&#8221;
The signatories include:
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<li>Christy Walton, the billionaire daughter-in-law of Walmart's founder Sam Walton</li>
<li>Retired NFL Commissioner Paul Tagliabue</li>
<li>Billionaire investor Mike Novogratz</li>
<li>Ex-Google executive Ning Mosberger-Tang</li>
<li>Warburg Pincus Managing Director Harsha Marti</li>
<li>Harvard Law School professor Lawrence Lessig</li>
<li>New York University professor and podcaster Scott Galloway</li>
<li>Weyco Group CEO Tom Florsheim</li>
<li>Former Army secretary Louis Caldera</li>
<li>Hedge fund investor Kevin Brennan of Bridgewater Associates</li>
<li>Vicky Hausman, the CEO of Forward Majority, a group that supports Democrats in state legislative elections</li>
</ul>
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Daniella Ballou-Aares, the CEO of the Leadership Now Project, <a href="https://x.com/LastCallCNBC/status/1809369796611342468">said</a> in an interview with CNBC that the organization&#8217;s primary concern is the risk that Trump presents and the potential of him returning to the White House. 
&#8220;Unfortunately, I think the president's debate performance was not an anomaly,&#8221; she said.
&#8220;We should do everything possible to see the new nominee, for him to pass the torch to the very capable bench of Democratic candidates,&#8221; she added.
In the letter, the signatories called upon Biden to cement his legacy by passing the torch just as George Washington did.
Opposition Brewing In Democratic Camp: Sen. Mark Warner (D-Va.) is striving to mobilize some likeminded Democratic senators to ask Biden to exit the presidential race, a separate Washington Post report <a href="https://www.washingtonpost.com/politics/2024/07/05/mark-warner-joe-biden-exit-race-democratic-senators/">said</a>, citing people with direct knowledge of the effort.
The senator reportedly told his colleagues that the president can no longer be in contention due to his faltering debate performance. He told them that he was deeply concerned that Biden has not been able to run a campaign to effectively challenge Trump, the report said.
Biden told reporters that he spoke with 20 Congress members, all of whom supported him staying in the campaign, with Warner being the sole member advocating for him to end it.
&#8220;There's a growing consensus among Senate Democrats that the situation with Biden at the top of the ticket is untenable, and senators are trying to determine the best way to relay that message to an insulated president,&#8221; the Washington Post noted. Senate Majority Leader Chuck Schumer (D-N.Y.) has reportedly told senators to try to wait to make any moves <a href="https://www.benzinga.com/news/24/07/39611807/biden-trump-deadlock-ends-after-debate-new-poll-indicates-defection-of-voter-category-that-should-wo">until there is more polling data about Biden and the Democrats' standing among voters.</a>
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Biden Under The Microscope As Donors, Business Leaders Step Up Call For Him To End Race: 'Unfortunately ... The President's Debate Performance Was Not An Anomaly'

<a href="https://www.benzinga.com/topic/robert-f-kennedy-jr" target="_blank" rel="noreferrer noopener">Robert F. Kennedy Jr</a>., an independent presidential candidate known for promoting conspiracy theories, plans to address questions about the Sept. 11, 2001 terrorist <a href="https://www.benzinga.com/news/24/07/39610867/robert-kennedy-jr-acknowledges-skeletons-in-my-closet-amid-sexual-assault-allegation-i-am-not-a-chur" target="_blank" rel="noreferrer noopener">attacks by promising to &#8220;open the files.&#8221;</a>
Kennedy explained in several X posts that his comments on Sept. 11 were prompted by a recent &#8220;60 Minutes&#8221; report revisiting speculation about Saudi government&#8217;s foreknowledge of the terrorist plot, <a href="https://www.politico.com/news/2024/07/05/rfk-jr-911-attacks-00166671" target="_blank" rel="noreferrer noopener">reported</a> Politico. He noted the difficulty in discerning between conspiracy theories and reality and attributed the uncertainty to dishonesty within the U.S. government.
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&#8220;As President I won&#8217;t take sides on 9/11 or any of the other debates. But I can promise is that I will open the files and usher in a new era of transparency,&#8221; Kennedy <a href="https://x.com/RobertKennedyJr/status/1809219969537962423" target="_blank" rel="noreferrer noopener">said</a> in a post on X. 
The remarks surfaced during a challenging period for the candidate, following a Vanity Fair profile that delved into his history of drug use, allegations of sexual assault against a nanny in the late 1990s and a controversial claim of eating dog meat.
In a subsequent interview, Kennedy denied consuming dog meat but avoided addressing questions about the assault, acknowledging a troubled personal history instead, Politico added.
In his social media post, Kennedy highlighted a mounting distrust in government.
&#8220;Speculation about what our government may be covering up is rife outside the mainstream of our political culture,&#8221; Kennedy wrote. &#8220;Trust it government is at an all-time low. The way to restore that trust is through honesty and transparency.&#8221; 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Robert F. Kennedy Jr. Stirs Controversy By Promising To 'Open The Files' On Pivotal Moment In US History

Supporters of <a href="https://www.benzinga.com/topic/stormy-daniels" target="_blank" rel="noreferrer noopener">Stormy Daniels</a> have reportedly raised over $900,000 to assist her in relocating to a safe location and covering legal expenses following her testimony in the criminal trial that resulted in<a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener"> Donald Trump&#8217;s</a> conviction <a href="https://www.benzinga.com/general/politics">on 34 charges.</a>
Funds from an online GoFundMe campaign initiated by a friend and former manager of Stormy Daniels have poured in, <a target="_blank" href="https://www.theguardian.com/us-news/article/2024/jul/06/stormy-daniels-gofundme-alleged-threats-" rel="noreferrer noopener">reported</a> The Guardian. Daniels, an adult film actor, recently appeared on MSNBC where she described enduring relentless social media harassment from Trump supporters amid his bid for a second presidency.
She recounted receiving threats aimed at raping and murdering her daughter and other family members.
&#8220;It&#8217;s become unsafe for her family and her pets,&#8221; the fundraiser&#8217;s organizer, Dwayne Crawford, wrote on the page for the campaign, which set a goal of $1 million.
&#8220;Stormy needs help to relocate her family to somewhere they can feel safe and live on their terms. She needs assistance to be able to continue to pay the mounting fees so that Trump doesn&#8217;t just win because his pocketbook seems endless,&#8221; Crawford wrote. 
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The &#8220;I Stand with Stormy Daniels&#8221; campaign, which had garnered over $940,000 from approximately 17,600 donors as of last Friday, originates from her involvement in Trump&#8217;s late May conviction for falsifying business records.
Daniels, whose real name is Stephanie Clifford, received $130,000 to maintain confidentiality about an alleged extramarital sexual encounter with Trump a decade before his 2016 presidential win. Prosecutors stated that the payment to Daniels was inaccurately classified as legal fees.
Daniels&#8217; testimony contributed to the successful prosecution of Trump in a New York court.
On Tuesday, Daniels <a href="https://www.msnbc.com/rachel-maddow/watch/exclusive-stormy-daniels-shares-new-details-of-her-traumatic-encounter-with-donald-trump-214129733677" target="_blank" rel="noreferrer noopener">revealed</a> to MSNBC&#8217;s Rachel Maddow that she had been flooded with Facebook messages filled with threats &#8220;to rape everybody in my family, including my young daughter, before they killed them.&#8221;
&#8220;I&#8217;ve lost … mostly my peace, mostly my daughter&#8217;s privacy, and time – time I&#8217;ll never get back with her,&#8221; Daniels said, referring to her involvement in the prosecution against Trump.
She also explained that she faces $500,000 in attorneys&#8217; fees, which she can&#8217;t afford to pay, stemming from a civil defamation lawsuit she filed against Trump in 2018.
Among those who expressed support for Daniels after her interview with Maddow was writer E. Jean Carroll, who sued Trump over allegations of rape and defamation, winning nearly $90 million in civil penalties from him.
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Trump Accuser Stormy Daniels Says Ex-President's Supporters Have Flooded Her With Threats Since His Conviction: 'I've Lost ... Mostly My Peace'

Yesterday, <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> sought to leverage the U.S. Supreme Court&#8217;s decision granting extensive<a href="https://www.benzinga.com/news/24/07/39654177/trump-distances-himself-from-project-2025-amid-rising-controversy-i-know-nothing" target="_blank" rel="noreferrer noopener"> immunity to the former president.</a>
He urged the federal judge overseeing his criminal case for retaining classified documents to carefully scrutinize charges involving &#8220;official&#8221; acts that may be exempt from prosecution, <a href="https://www.theguardian.com/us-news/article/2024/jul/05/trump-documents-case-immunity-ruling" target="_blank" rel="noreferrer noopener">reported</a> The Guardian.
This week, the Supreme Court ruled that former presidents have limited immunity from criminal prosecution for certain actions taken while in office.
This also means evidence related to immune acts cannot be used in trials, even if they are not part of the charges.
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According to the ruling, the framework of criminal accountability for former presidents includes three categories: core presidential functions with absolute immunity, official acts of the presidency with presumptive immunity and unofficial acts with no immunity.
Trump&#8217;s lawyers did not specify which parts of the indictment they viewed as immune official conduct.
If Judge Aileen Cannon agrees to review the charges in the classified documents case, it could significantly prolong the case, according to The Guardian.
The filing underscores the broad impact of the immunity ruling, which is affecting Trump&#8217;s documents case in Florida, even though the ruling stemmed from an appeal in the former president&#8217;s 2020 election subversion case in Washington, D.C.
It also highlights Trump&#8217;s strategy to undermine the substance of the classified documents case.
In a 10-page filing, Trump&#8217;s lawyers requested Cannon&#8217;s permission to submit new briefs, asserting that the immunity ruling undermines the prosecution&#8217;s argument and highlights its politically motivated stance, labeling the motion as &#8220;frivolous.&#8221; Additionally, Trump&#8217;s filing seeks to halt all other proceedings until Cannon determines the authority of special counsel Jack Smith and his team to initiate the case.
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Trump Seeks Further Delay In Classified Documents Case, Citing Supreme Court's Immunity Ruling

In the unfolding drama between Governor <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a> (R) and prominent Florida attorney <a href="https://www.benzinga.com/markets/cannabis/24/06/39125487/pot-daddy-john-morgan-joins-floridas-cannabis-legalization-campaign-hints-hell-go-after-desantis">John Morgan</a>, the battle lines are being sharply drawn over the issue of <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">recreational marijuana legalization</a> in Florida. 
Morgan, a major Democratic fundraiser and longtime <a href="https://www.benzinga.com/markets/cannabis/24/06/39125487/pot-daddy-john-morgan-joins-floridas-cannabis-legalization-campaign-hints-hell-go-after-desantis">advocate for marijuana reform</a>, has ramped up his efforts by spearheading a well-funded <a href="https://www.benzinga.com/markets/cannabis/24/06/39125487/pot-daddy-john-morgan-joins-floridas-cannabis-legalization-campaign-hints-hell-go-after-desantis">advertising campaign</a> for the legalization initiative, known as <a href="https://www.benzinga.com/markets/cannabis/24/06/39492507/desantis-says-cannabis-legalization-amendment-will-protect-weed-rights-better-than-1st-2nd-amend">Amendment 3</a>, which will appear on the ballot in the <a href="https://www.benzinga.com/topic/2024-election">November 2024 elections</a>. 
The controversy got even hotter when Morgan implied that opposition from the pharmaceutical and liquor industries is fueling DeSantis&#8217; stance against the amendment. Morgan argues that these industries see marijuana as a direct threat to their profits, which, as it turns out, <a href="https://www.benzinga.com/markets/cannabis/24/03/37487875/is-cannabis-replacing-beer-canadian-study-links-weed-legalization-to-drop-in-alcohol-sales">is true</a>.
A poll conducted in late June showed  that more than 64% of Florida voters intend to support Amendment 3, which needs at least 60% to pass, <a href="https://floridapolitics.com/archives/682736-heres-how-donald-trump-could-use-recreational-pot-to-his-electoral-advantage/">reported</a> Florida Politics.
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<h2 class="wp-block-heading">Is There A Governor's Challenge In The Mix?</h2>
Morgan, who is considering a third-party gubernatorial run in 2026, has also accused DeSantis of perpetuating falsehoods about the <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">cannabis amendment</a> when he claimed on numerous occasions that it would lead to <a href="https://www.benzinga.com/markets/cannabis/24/03/37588620/gops-desantis-takes-issue-with-cannabis-odor-in-public-places-says-legalization-proposal-should-">widespread marijuana odors</a> across the state &#8211; a statement Morgan calls a lie. 
A much sought after trial attorney,&nbsp;Morgan said, "Maybe I should run for Governor… as an independent," after DeSantis opposed a $15 an hour minimum wage hike in January. Since then, Morgan has has made similar remarks. According to a June&nbsp;<a href="https://www.foxnews.com/official-polls/fox-news-poll-trump-holds-4-point-edge-florida-rematch-majority-says-conviction-wont-matter-vote" target="_blank" rel="noreferrer noopener">Fox News poll</a>, the cannabis amendment enjoys greater popularity than DeSantis.
Following DeSantis' sweeping cuts to the state's arts and culture grants, another wealthy Floridian has spoken out. Billionaire real estate mogul and arts patron Jorge Pérez slammed DeSantis for chopping all $32 million from a state program that provides grants for music, theater and culture. 
"This is just a horrible message to send," <a href="https://www.bloomberg.com/news/articles/2024-07-03/miami-condo-king-slams-desantis-for-defunding-arts-as-transplants-seek-more?utm_source=website&amp;utm_medium=share&amp;utm_campaign=twitter?sref=xaSIhnlc&amp;embedded-checkout=true">said</a> Pérez in an interview with Bloomberg.
<h2 class="wp-block-heading">New Campaign Ads Starring John Morgan </h2>
Meanwhile, <a href="https://www.benzinga.com/markets/cannabis/24/06/39236840/desantis-is-less-popular-than-floridas-legal-cannabis-amendment-new-poll-that-also-shows-biden-g">Smart and Safe Florida</a>, the group behind Florida&#8217;s ballot measure has released <a href="https://www.benzinga.com/markets/cannabis/24/06/39125487/pot-daddy-john-morgan-joins-floridas-cannabis-legalization-campaign-hints-hell-go-after-desantis">two new ads</a> in support of the Amendment. Morgan, as a campaign spokesperson, starts off by saying, "If I was your governor&#8230;"
He goes on to say, "I would free or parole every person in jail for possession and then expunge everyone's record. Amendment 3 will put a stop to this and let the cops fight real crime, not fake crime. I'm tired of people being thrown in jail for something that is less harmful than alcohol or opioids.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Listen to John's radio ad "Independence" endorsing #YesOn3." width="500" height="281" src="https://www.youtube.com/embed/KZJG-b3QEAw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Read Next:
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Photo:&nbsp;Visit Florida Postcard,&nbsp;Shutterstock

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DeSantis Is Less Popular Than Florida's Cannabis Amendment, Wealthy Attorney John Morgan Eyes Gubernatorial Run

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