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The Conference of Justice Ministers on Thursday approved a proposal from Baden-Württemberg and Berlin to revise the cannabis law, <a href="https://www.swr.de/swraktuell/baden-wuerttemberg/cannabis-gesetz-neuregelung-justizministerkonferenz-100.html" target="_blank" rel="noreferrer noopener">writes</a> SWR, according to translation.
What happened: The Baden-Württemberg Justice Minister Marion Gentges (CDU) and Berlin's Senator for Justice Felor Badenberg <a href="https://www.benzinga.com/markets/cannabis/24/11/42203747/berlins-justice-senator-says-cannabis-law-benefits-mafia-like-structures-and-that-it-should-be-repealed" target="_blank" rel="noreferrer noopener">recently criticized Germany&#8217;s cannabis law.</a> The Minister and Senator argued that contrary to the objectives of the law, legalization actually made the fight against the black market and organized crime more difficult. Together, they submitted a request at the Justice Ministers' Conference to allow undercover investigation again.
Why it matters: The main concerns of the law include troubles in the effort to deal with the illegal market and organized criminal activities, especially in the commercial trade of cannabis products. With cannabis not being considered a narcotic anymore, telephone surveillance and online searches of its usual extent have been disabled. This means that not all the evidence is allowed to be used in criminal proceedings.
Partial cannabis legalization <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/04/38023610/heres-what-you-need-to-know-about-weed-legalization-in-germany-that-just-took-effect" rel="noreferrer noopener">took effect in Germany on April 1</a>. Under this first pillar of cannabis legalization, adults over 18 can legally possess up to 25 grams of dried cannabis flower and cultivate up to three marijuana plants at home. One of the biggest breakthroughs under the law is that medical cannabis is essentially <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/07/39830117/medical-marijuana-regulated-as-ibuprofen-is-one-of-the-biggest-breakthroughs-of-germanys-cannabi" rel="noreferrer noopener">regulated like ibuprofen.</a>
Read Also: <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk" rel="noreferrer noopener">Germany's Govt. Coalition Crisis, Is Cannabis Reform At Risk?</a>
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a target="_blank" href="https://newsletteremail.benzinga.com/subscribe" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.
<h2 class="wp-block-heading">Specific Case</h2>
One specific case that <a href="https://www.benzinga.com/markets/cannabis/24/09/40697724/weed-smuggler-among-few-freed-under-germanys-new-cannabis-law" target="_blank" rel="noreferrer noopener">recently made headlines</a>, involves a 36-year-old man who smuggled 450 kilograms (992.08 lbs) of cannabis into Germany, estimated to be worth 1.9 million euros ($2.1 million). The controversy arises from the new law, which doesn't consider cannabis-related crimes as serious crimes and therefore the prosecutors can't use encrypted chats from the provider Encrochat as evidence. The man was released, prompting Gentges to say, &#8220;Drug dealers are beneficiaries of this law."
The case was before the Mannheim Regional Court, but the court&#8217;s judgment is not yet legally binding. However it is raising questions among the judiciary nationwide, and cannabis opponents are using it as an argument against the reform.
What's next: The justice ministers now want to fix this gap, perhaps by allowing online searches and wiretaps for serious cannabis-related crimes again. The Federal Ministry of Justice is expected to examine the proposal.
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</ul>
Photo: Courtesy of Kyrylo Vasyliev via Shutterstock

Cannabis

News

Eurozone

Conference Of Justice Ministers Approves Proposal To Revise German Cannabis Law

What if pizza was the secret ingredient to skyrocketing a <a href="https://www.benzinga.com/startups/24/10/41556636/microsoft-and-openai-clash-over-14-billion-as-the-ai-leader-converts-to-a-for-profit-business-disrup">tech company's</a> revenue? For Matthew Parkhurst, the 26-year-old cofounder and CEO of Antimetal, it was exactly that.&nbsp;
With a tight $15,000 marketing budget, Parkhurst took an unconventional approach: he sent more than 1,000 pizzas to potential clients, venture capital firms and tech influencers in New York and San Francisco.
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The pizzas, sourced from local pizzerias, weren't just lunch – they were a statement. Each box carried Antimetal's branding and contact details, turning every slice into a clever pitch for the company's cloud optimization services. Any undelivered pizzas were given to drivers, who also received tips of several hundred dollars each.
The results were remarkable. According to internal documents reviewed by CNBC Make It, 75 companies that received pizzas became paying clients, generating over $1 million in annualized revenue. "The ROI is insane," Parkhurst said. "It wasn't just effective – it was fun and supported local businesses."
Antimetal's core <a href="https://www.benzinga.com/startups/24/10/41191588/selling-a-business-for-3-7-billion-was-a-mistake-for-46-year-old-he-recounts-it-as-his-saddest-day-o">business </a>involves saving startups money on cloud infrastructure costs. Companies spending tens of thousands monthly on platforms like Amazon Web Services (AWS) can pay Antimetal $599 monthly to identify inefficiencies and reduce those expenses.
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But standing out in the tech world is no small feat even with a valuable service. Parkhurst knew he had to do something different to break through the endless emails that flood executives' inboxes.
Rahul Sonwalkar, CEO of Julius AI, was one such executive. He recalls seeing Antimetal's name in a cold pitch and promptly ignoring it. Then, a pizza arrived at his office. "We opened the box, started eating and realized this wasn't random.&nbsp;
I looked online and Antimetal was everywhere," Sonwalkar said. Intrigued, he signed up for the service and says he plans to remain a client as long as the savings continue.
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Another recipient, Paul Klein, founder of Browserbase, had a similar experience. He remembered hearing of Antimetal but didn't understand the company's value proposition until the pizza campaign caught his attention.&nbsp;
"As a founder, you get bombarded with pitches. This was different – it made me stop and take notice," Klein said. Like Sonwalkar, Klein is now a paying customer.
Parkhurst admitted the idea wasn't his first choice. He considered traditional swag like T-shirts and champagne but found both options uninspired or too expensive. Pizza offered an affordable, shareable and unforgettable alternative. It also aligned with his goal of creating a viral moment for Antimetal's launch.
The response exceeded Parkhurst's expectations. "You usually brace yourself for some backlash when you do something bold like this," he said. "But this time, nobody was mad they got the pizza."&nbsp;
The buzz helped Antimetal gain visibility in a competitive market. According to Data Center Dynamics, global cloud services spending is projected to reach $138.3 billion by 2024.
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Startups

Tech CEO Turns $15,000 Into $1 Million With Pizza – 'Nobody Was Mad They Got The Pizza,' Says Founder Behind The Viral Campaign

Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) CEO Carlos Tavares resigned abruptly on Monday amid faltering U.S. sales and looming trade pressures, ending his tenure at one of the world&#8217;s largest automakers as it <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42247850/gm-other-us-automakers-brace-for-sharp-profit-squeeze-from-trump-tariffs-analysts-warn">grapples with industry-wide challenges</a>.
What Happened: The maker of Jeep, Ram, and Chrysler vehicles announced that its board accepted Tavares&#8217; immediate departure following &#8220;different views&#8221; that emerged in recent weeks. 
Chairman John Elkann will lead an interim executive committee until a permanent CEO is appointed, expected by mid-2025.
The exit comes as Stellantis faces mounting pressure in North America, where dealer inventories remain among the highest in the industry according to Cox Automotive. The company reported a 27% revenue decline to 33 billion euros ($35.8 billion) in <a href="https://www.benzinga.com/24/11/41731374/while-stellantis-performed-below-its-potential-li-auto-reported-strong-and-record-numbers">the third quarter</a>, missing analyst estimates of 36.6 billion euros.
Adding to the automaker&#8217;s challenges, President-elect Donald Trump&#8216;s proposed 25% tariffs on Mexican imports could put over 20% of <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42247850/gm-other-us-automakers-brace-for-sharp-profit-squeeze-from-trump-tariffs-analysts-warn">Stellantis&#8217; earnings at risk,</a> according to S&amp;P Global Ratings. The company relies heavily on Mexican production for profitable models like Ram trucks and the Jeep Compass.
See Also: <a href="https://www.benzinga.com/news/large-cap/24/12/42256613/rivian-automotive-rocket-lab-and-moderna-are-among-top-10-large-cap-gainers-last-week-nov-25-nov-29-are-the-others-in-your-portfolio">Rivian Automotive, Rocket Lab And Moderna Are Among Top 10 Large-Cap Gainers Last Week (Nov 25-Nov 29): Are The Others In Your Portfolio?</a>
&#8220;Stellantis&#8217; success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO,&#8221; said Henri de Castries, Senior Independent Director. &#8220;However, in recent weeks different views have emerged.&#8221;
Why It Matters: Despite the leadership shuffle, Stellantis maintained its full-year 2024 guidance and emphasized progress in reducing U.S. inventory levels. The company aims to launch about 20 new models this year as part of its broader strategy to become carbon neutral by 2038.
Tavares played a crucial role in creating Stellantis through the merger of PSA Group and Fiat Chrysler Automobiles, previously leading successful turnarounds at PSA and Opel. The process to select his successor is underway, managed by a special board committee.
Price Action: Stellantis N.V.&#8217;s stock closed at $13.20 on Friday, up 3.17% for the day. In after-hours trading, the stock dipped 0.98%. Year to date, Stellantis has declined, losing 42.73% of its value, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Management

Markets

STLA

Jeep Marker Stellantis' CEO Carlos Tavares Resigns Amid Falling US Sales And Trade Pressures: Board Cites 'Different Views'

President Joe Biden has granted a full and unconditional pardon to his son in the federal felony gun and tax cases, Hunter Biden, according to an official statement from the White House on Sunday.
What Happened: The President emphasized that he has not meddled with the Justice Department&#8217;s decision-making process since he took office. He asserted that his son was selectively and unjustly prosecuted, with charges instigated by his political adversaries in Congress.
Biden argued that individuals are rarely prosecuted solely based on how they complete a gun form, and those who repay their taxes with interest and penalties are typically offered non-criminal resolutions. &#8220;It is clear that Hunter was treated differently,&#8221; said Biden.
He also referred to a plea deal, agreed upon by the Department of Justice, which fell apart in court due to political pressure. Biden stated that if the plea deal had been upheld, it would have been a fair resolution to Hunter&#8217;s cases.
&#8220;No reasonable person who looks at the facts of Hunter's cases can reach any other conclusion than Hunter was singled out only because he is my son – and that is wrong,&#8221; said the president.
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Biden concluded by expressing his faith in the justice system, but also his worry about the impact of raw politics on the process, leading to a miscarriage of justice.
&#8220;I hope Americans will understand why a father and a President would come to this decision,&#8221; said Biden.
Why It Matters: This decision comes after a series of events that began in 2023 when the White House confirmed that there was <a href="https://www.benzinga.com/news/23/07/33434277/joe-biden-will-not-pardon-son-if-convicted-says-white-house">no chance</a> of Biden pardoning his son amidst the collapse of a plea deal with the Department of Justice.
In June 2024, <a href="https://www.benzinga.com/news/24/06/39275377/hunter-biden-convicted-on-federal-gun-charges">Hunter Biden was convicted</a> on three felony gun charges. He later admitted guilt to all nine federal tax charges in September 2024, <a href="https://www.benzinga.com/news/24/09/40743655/hunter-biden-admits-guilt-in-federal-tax-evasion-case-when-i-was-addicted-i-wasnt-thinking-about-my">avoiding a second trial</a> that year.
Image via Shutterstock
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Politics

General

Biden Grants 'Full and Unconditional' Pardon To Hunter: 'I Hope Americans Will Understand'

<a href="https://www.benzinga.com/24/11/42144671/warren-buffett-thinks-bill-gates-is-smart-as-hell-but-says-his-ex-wife-melinda-is-smarter-in-terms-of-seeing-the-whole-picture">Bill Gates</a> is a widely recognized pioneer of technology and philanthropy. Yet, in recent years, his focus has shifted to one of the world's most pressing challenges: the climate crisis. As a founder of Breakthrough Energy, Gates has dedicated substantial resources to achieving net-zero emissions by 2050 – a goal the company describes as "the most difficult challenge humanity has ever taken on."
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Gates envisions a future where global emissions are reduced to zero by transforming how we consume and produce energy. This involves phasing out fossil fuels and replacing them with clean energy sources – like wind, solar and <a href="https://www.benzinga.com/startups/24/11/42042350/billionaires-like-gates-bezos-and-altman-are-backing-nuclear-energy-heres-why-theyre-all-in-and-if-you-should-be-too">nuclear power</a>.
"Breakthrough Energy is about finding smart people, giving them resources, giving them a very tough challenge," Gates said. "Through our network of scientists, entrepreneurs, investors and public policy experts, Breakthrough Energy is making sure that everyone can enjoy affordable, abundant and clean energy."
Through Breakthrough Energy, Gates has invested billions into clean energy solutions and funds startups via its <a href="https://www.benzinga.com/news/24/09/40829169/bill-gates-jeff-bezos-backed-startup-leads-the-charge-in-global-gold-rush-for-buried-hydrogen">Breakthrough Energy Ventures</a> (BEV) programs. BEV aims to accelerate an energy transition in every sector of the economy. They invest in entrepreneurs whose companies have the potential to significantly impact climate change at scale.&nbsp;
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Reaching net zero by 2050 will cost trillions of dollars globally. According to McKinsey &amp; Company, it would take $9.2 trillion in annual spending on physical assets from now until 2050. That is $3.5 trillion more than is currently going toward these efforts. Much of this spending would go toward infrastructure upgrades, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41772327/trumps-return-to-white-wont-have-shocking-effect-on-us-clean-energy-growth-say-anal">clean energy development</a> and helping industries like manufacturing and agriculture transition to sustainable practices.&nbsp;
Higher energy costs could impact consumers financially, at least in the short term. However, Gates argues that early investments in clean technology will eventually lower costs as innovations scale up and become more affordable.&nbsp;
"In addition to mitigating climate change, affordable clean energy will help fight poverty," Gates wrote in his blog, GatesNotes. "We see through our work with the poorest how the high price of energy affects them by adding to the cost of transportation, electricity, fertilizer and many other things they need."
Gates has committed over $2 billion to fight climate change. Through Breakthrough Energy, he is heavily involved in funding and guiding the development of technologies that align with his vision.&nbsp;
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Critics have questioned whether Gates&#8217; investments serve his financial interests as much as the global good. However, he contends that the urgency of climate change requires wealthy individuals to take on this kind of responsibility, leveraging their resources to accelerate progress.
Transitioning to net-zero can potentially create millions of new jobs in renewable energy and technology sectors. However, traditional industries like coal and oil will likely face significant losses, potentially displacing workers and reshaping local economies. Gates believes governments and businesses must collaborate to manage these shifts, ensuring that economic benefits are distributed fairly.
Gates emphasizes that the net-zero mission isn't just a technological challenge – it's also a political and social one. Success will depend on international cooperation, public support and policies that incentivize innovation while holding major polluters accountable.
It remains to be seen whether the global economy can absorb the costs and ultimately benefit from this transition. What's certain is that the path to a net-zero world will require unprecedented investment, collaboration and perseverance.
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From Tech to Climate: The Financial Impact Of Bill Gates' Net-Zero Vision

On Sunday, Sen. Bernie Sanders (I-Vt.) took to social media to express his agreement with Elon Musk regarding the Pentagon&#8217;s financial management. 
What Happened: Sanders highlighted the Pentagon&#8217;s $886 billion budget and its failure to pass audits for the seventh consecutive year in a post on X.
He pointed out that billions have gone unaccounted for, emphasizing the need for reform. Sanders noted that only 13 senators opposed the defense budget last year, which he described as being riddled with waste and fraud. He stressed, &#8220;That must change.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1fa;&#x1f1f8;&#x1f1fa;&#x1f1f8;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1863297860651069586?ref_src=twsrc%5Etfw">December 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Musk responded to Sanders&#8217; post by posting two U.S. flag emojis. Notably, the Vermont senator has been a vocal critic of Musk. Earlier this year, he criticized the entrepreneur&#8217;s reported donations to former President Donald Trump&#8217;s campaign, while <a href="https://www.benzinga.com/news/24/07/39807458/bernie-sanders-slams-elon-musks-reported-45m-donations-to-trump-campaign-we-need-a-government-that-r">advocating for publicly funded elections</a>
Why It Matters: Sanders&#8217; statement comes amid broader debates on military spending and technological advancements in warfare. 
Recently, Musk has been vocal about transforming military strategies, advocating for <a href="https://www.benzinga.com/markets/equities/24/11/42206297/amid-elon-musks-push-for-drones-and-ai-for-combat-transformation-analyst-pierre-ferragu-says-shift-the-defense-budget-in-favor-of-startups">drones and AI over traditional fighter jets</a>. 
Musk, appointed by Trump to co-lead the Department of Government Efficiency (DOGE), criticized the F-35 program, advocating for drones over manned jets. Musk called manned jets like the F-35 outdated, sparking a defense from the Pentagon and Lockheed Martin, who highlighted the jet&#8217;s global demand despite cost overruns and delays. Musk's remarks aligned with his broader concerns about government overspending and fiscal responsibility.
DOGE, led by Musk and Vivek Ramaswamy, aims to cut wasteful federal spending, <a href="https://www.benzinga.com/government/regulations/24/11/42013424/trumps-musk-ramaswamy-doge-plan-what-it-means-for-defense-and-it-stocks">raising concerns for defense contractors</a> as the $877 billion defense budget faces scrutiny. While defense stocks risk a downturn, government IT firms specializing in AI, cybersecurity, and efficiency technologies could emerge as winners in this sector shakeup.
Despite ongoing discussions about wasteful defense spending, some exchange-traded funds in this sector have climbed since Trump's election. The iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) gained nearly 7.1% during this time, while the Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLF#NYSE">SHLF</a>) surged 39.2%.
Image via Shutterstock
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iShares Dow Jones US Aerospace & Defense Index Fund

SHLF

Bernie Sanders: 'Elon Musk Is Right' On Wasteful Defense Spending

Rupert Grint, famed for his portrayal of Ron Weasley in the &#8220;Harry Potter&#8221; film series, has been slapped with a $2.3 million tax bill following a legal dispute with British tax authorities.
What Happened: The UK tax agency, H.M. Revenue and Customs, scrutinized Grint&#8217;s&nbsp;tax return from seven years&nbsp;ago and discovered irregularities. 
The actor had allegedly misclassified £4.5 million in residuals from the eight films as a capital asset, which attracts a lower tax rate than income.
Despite attempts by Grint&#8217;s legal team to appeal, a tribunal judge ruled in favor of the tax agency&nbsp;this week, <a href="https://apnews.com/article/rupert-grint-tax-lawsuit-bill-million-bebabb2e0d391a46a6c11fdc7ac81c41">reports </a>Associated Press. 
Judge Harriet Morgan declared that the money &#8220;derived substantially the whole of its value from the activities of Mr. Grint&#8221; and should therefore be &#8220;taxable as income.&#8221;
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Why It Matters: This is not the first time Grint has faced tax-related issues. In 2019, he lost a separate court case over a £1 million tax refund.
The actor, now 36, featured in all eight &#8220;Harry Potter&#8221; films and is estimated to have made approximately £24 million from the role.
While the tax bill is a significant amount, it is unlikely to cause financial distress for the actor, given his substantial earnings from the &#8220;Harry Potter&#8221; franchise. 
However, it does highlight the importance of accurate tax classification and the potential financial implications of misclassification.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Entertainment

Harry Potter's Ron Weasley Cursed With $2.3M Tax Bill After Losing Lawsuit

Elon Musk has filed for a court injunction to halt OpenAI from transitioning into a for-profit organization, as per a recent court filing.
What Happened: According to a court filing, Musk&#8217;s legal team has requested Judge Yvonne Gonzalez Rogers of the U.S. District Court for the Northern District of California to issue an injunction against OpenAI. 
The injunction is aimed at stopping OpenAI&#8217;s transition from a non-profit to a for-profit company.
The <a href="https://s3.documentcloud.org/documents/25421711/musk-vs-altman-petition-for-injunction-against-openais-transition-to-for-profit-entity.pdf">filing </a>also alleges OpenAI of indulging in anti-competitive behavior by discouraging investors from partnering with its competitors, including Musk&#8217;s company xAI. It also accuses OpenAI of gaining an unfair advantage from &#8220;wrongfully obtained competitively sensitive information&#8221; through its ties with Microsoft.
Musk&#8217;s lawyers argue that Reid Hoffman, the co-founder of LinkedIn, who previously served on the boards of OpenAI and Microsoft simultaneously, resulted in wrongful information sharing and monopolistic market practices, violating antitrust law.
If the injunction is granted, it would stall OpenAI&#8217;s for-profit transition and force the company to halt its partnerships with Microsoft.
Also Read: <a href="https://www.benzinga.com/news/24/03/37766544/elon-musk-is-feuding-with-sam-altman-in-a-major-lawsuit-over-openai-and-one-appears-to-already-have">Elon Musk Is Feuding With Sam Altman In A Major Lawsuit Over OpenAI — And One Appears To Already Have The Upper Hand</a>
Musk and OpenAI CEO Sam Altman were among a group of Silicon Valley figures who co-founded or helped fund OpenAI in 2015 as a non-profit. Musk invested between $45 and $50 million in the company and served on its board of directors until his departure in 2018.
OpenAI, now valued at over $150 billion, announced its plans to restructure as a for-profit entity in September,&nbsp;nearly a decade after its&nbsp;launch.
The legal battle between Musk and Altman has escalated this year, with Musk filing a suit against Altman and other OpenAI executives in March, withdrawing it in June, and re-filing a new version in August.
Why It Matters: The legal dispute between Musk and OpenAI marks a significant turn in the AI industry. 
The outcome of this case could set a precedent for future disputes involving non-profit organizations transitioning to for-profit entities and the sharing of competitively sensitive information between companies.
Read Next
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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.

Tech

MSFT

Musk Goes To Court To Block OpenAI's For-Profit Transition

<h6 class="wp-block-heading"></h6>
Donald Trump&#8216;s second term as president is expected to bring about a significant shift in the global and domestic order, with Trump&#8217;s selections for key posts set to <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42027218/could-trumps-housing-plans-reshape-the-real-estate-market">aid in this transformation</a>.
What Happened: The incoming second Trump administration is preparing for a major revamp of the government and domestic order, <a href="https://time.com/7177760/trump-administration-changing-world-order/">writes</a> Ray Dalio at Time.com. The focus is on an &#8220;America first&#8221; foreign policy and gearing up for a potential external conflict with China, seen as America&#8217;s biggest threat.
Key appointments include Elon Musk and Vivek Ramaswamy, who are set to lead the newly proposed Department of Government Efficiency (DOGE).
Robert F. Kennedy Jr. could oversee a radical overhaul of the healthcare system as Secretary of Health and Human Services. Sen. Marco Rubio (R-Fla.), Tulsi Gabbard, and Pete Hegseth will be Trump&#8217;s nominees for Secretary of State, Director of National Intelligence, and Secretary of Defense, respectively.
Dalio argues that these individuals and others are integral to Trump&#8217;s mission to dismantle the so-called &#8220;deep state&#8221; and replace it with a new domestic order focused on bolstering economic strength and countering foreign adversaries.
&#8220;They are all win-at-all-cost loyalists to the leader and to the mission of bringing down the&nbsp;so-called "deep state"&nbsp;and replacing it with a new domestic order that they hope will create maximum economic strength and fight foreign enemies,&#8221; writes Dalio. 
Dalio likens the Trump team&#8217;s strategy to a corporate raider initiating a hostile takeover of an inefficient company, making substantial reforms by altering personnel, reducing costs, and integrating new technologies. This approach is expected to have a profound impact on the domestic and global orders.
Also Read: <a href="https://www.benzinga.com/news/24/11/42154761/majority-of-americans-approve-of-trumps-second-term-agenda">Majority of Americans Approve of Trump&#8217;s Second-Term Agenda</a>
&#8220;It is now clear that Donald Trump and those he is choosing will reform government and the country like a corporate raider engaging in a hostile takeover of an inefficient company, making huge reforms to it by changing the people, slashing costs, and infusing it with new technologies,&#8221; he added. 
The partnership between Trump and Musk is expected to be the primary catalyst for the implementation&nbsp;of this new domestic order.&nbsp;The administration&#8217;s policies are projected to favor Wall Street, tech companies, and businesses hampered by regulations and tax concerns.
Dalio says the U.S. position in economic and geopolitical conflicts, especially with China, is also set to shape domestic security and policies.
He wrote, &#8220;We are now coming to the end of an era led by the United States, in which countries tried to work out together how to be with each other through multinational organizations with guiding principles and rules, and into a more self-interested, law-of-the-jungle-type order with the United States being one of the two biggest players and China the other— and the fight being largely the classic one of capitalism versus communism.&#8221;
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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.

Here's How Ray Dalio Thinks Trump's Second Term Could Reshape the US and the World

President-elect Donald Trump has issued a stern warning to the BRICS nations, threatening to impose 100% tariffs if they attempt to shift away from the U.S. dollar.
What Happened: Trump voiced his disapproval over the potential move by the BRICS group to distance themselves from the U.S. dollar. 
The BRICS group &#8212; which includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates &#8212; has been considering ways to utilize its economic power in a world where the U.S. dollar is dominant.
Trump&#8217;s comments were in response to Russia&#8217;s call for the BRICS nations to diminish&nbsp;the international dominance of the&nbsp;U.S. dollar. 
Using his Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/113573130299319701">platform</a>, Trump demanded that these countries neither establish a new BRICS currency nor support any other currency to replace the U.S. dollar. Failure to comply with these demands would result in 100% tariffs, according to Trump. He posted the same on X.
Also Read: <a href="https://www.benzinga.com/news/24/12/42256740/trump-taps-loyalist-patel-for-fbi-director-signaling-major-overhaul">Trump Taps Loyalist Patel for FBI Director, Signaling Major Overhaul</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they…
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1863009545858998512?ref_src=twsrc%5Etfw">November 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This threat comes on the heels of Trump&#8217;s recent warning of 25% tariffs on imports from major U.S. trading partners such as Canada, China and Mexico.
These latest remarks from the president-elect have further escalated the growing tensions surrounding international trade and currency dominance.
Why It Matters: The BRICS nations, known for their significant influence on regional economies and substantial contribution to world GDP, have been exploring alternatives to the U.S. dollar to reduce their dependency. 
This move is seen as a strategic attempt to leverage their collective economic strength. However, Trump&#8217;s recent threats of hefty tariffs underline the U.S.&#8217;s intent to maintain its currency&#8217;s dominance. 
This development could potentially lead to heightened trade tensions and increased volatility in the global financial markets.
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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.

Global

Trump Threatens BRICS Nations With 100% Tariffs

Renowned economist Nouriel Roubini recently expressed his apprehensions about President-elect Donald Trump&#8216;s second term.
What Happened: Roubini, who gained the moniker &#8220;Dr. Doom&#8221; after correctly predicting the 2008 global financial crisis, shared his economic predictions for Trump&#8217;s second term in a recent interview.
While acknowledging that some of Trump&#8217;s economic strategies could stimulate growth, he warned that others might result in increased inflation and reduced economic expansion.
During <a href="https://www.bloomberg.com/news/videos/2024-11-27/roubini-warns-of-stagflation-shocks-during-trump-admin-video">the</a> interview with Bloomberg, he specifically mentioned Trump&#8217;s proposed tariffs on Mexico, Canada and China, and suggested that similar measures could be applied to significant European trading partners.
Besides tariffs, Roubini also pointed to other Trump policies that could drive up prices, such as&nbsp;making certain tax cuts permanent,&nbsp;potentially devaluing the dollar, and meddling with the Federal Reserve&#8217;s independence.
"Unfortunately many of the other policies are going to have an implication of higher inflation and lower economic growth. The first thing he has already announced is&nbsp;going to be tariffs against Mexico, Canada&nbsp;and China and that's only the beginning," he said. 
Also Read: <a href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future">Here&#8217;s How Trump&#8217;s Policies Might Shape The Market&#8217;s Future</a>
Roubini also cautioned about the possibility of higher bond yields and rising inflation rates, which could pose challenges for consumers already struggling with elevated housing costs and grocery prices.
&nbsp;"Getting out of the Paris Accords is going to make climate change much worse [and] increase food prices and things of that sort. So if you look at this list of policies all of them have the impact that over time inflation will be higher, growth is going to be lower," he added. 
His warnings about stagflation, a state of stagnant economic growth coupled with high inflation, mirror those of JPMorgan CEO Jamie Dimon, who also views it as a possible consequence of the current fiscal and monetary stimulus.
Why It Matters: Roubini&#8217;s predictions, if accurate, could have significant implications for the global economy. His previous forecasts, particularly his accurate prediction of the 2008 financial crisis, have earned him a reputation for economic foresight. 
Therefore, his current warnings about potential economic stagnation and inflation during Trump&#8217;s second term should not be taken lightly.
Furthermore, the potential for stagflation could have serious consequences for consumers, particularly those already struggling with high living costs. If inflation continues to rise while economic growth remains stagnant, consumers could face even greater financial strain.
Finally, the potential impact of Trump&#8217;s proposed tariffs and other economic policies on international trade relations should not be overlooked. 
If these policies lead to trade disputes or economic instability, they could further exacerbate the economic challenges forecasted by Roubini.
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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.

'Dr. Doom' Roubini on Trump's Second Term: 'Inflation Will Be Higher, Growth Is Going To Be Lower'

Vision Marine Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>), a pioneer in electric marine propulsion, has entered into a milestone partnership with Massimo Marine, the marine division of Massimo Group (MAMO). This collaboration will produce a fully integrated 30-foot electric pontoon platform designed for commercial and recreational markets. As part of Vision Marine's strategic shift to offer complete electric boats directly to consumers, this partnership represents a key step in rapidly delivering high-quality electric marine products to market.
&nbsp;

MAMO

VMAR

Vision Marine Technologies, Massimo Marine Earlier Announced Production Partnership For First Commercial Electric Pontoon Platform

<a href="https://www.globenewswire.com/Tracker?data=0jqx6oiQK6OAEHWWr0opEkjg0sad2-iIQznMZgyFDuY8X608nFoptscWDTobgewhmWZMR423_Z0oola8H2nm4A==">Merus N.V.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRUS#NASDAQ">MRUS</a>) (Merus, the Company, we, or our), a clinical-stage oncology company developing innovative, full-length multispecific antibodies (Biclonics&#xAE; and Triclonics&#xAE;), today announced the publication of an abstract regarding petosemtamab, a Biclonics&#xAE; targeting EGFR and LGR5, in previously treated (2L+) patients (pts) with recurrent/metastatic head and neck squamous cell carcinoma (r/m HNSCC) on the European Society for Medical Oncology (ESMO&#xAE;) Asia Congress website. The abstract presents updated clinical data on petosemtamab from the initial expansion cohort (1500 mg) and a new dose-comparison cohort (1100 mg vs. 1500 mg) in 2L+ HNSCC for presentation at the ESMO&#xAE; Asia Congress 2024 taking place in Singapore, Dec. 6-8, 2024.

Events

MRUS

Merus Earlier Announced Publication On Abstract On Petosemtamab As 2L+ Treatment Of R/M HNSCC At ESMO Asia Congress 2024;  Said Petosemtamab 1500 Mg Monotherapy Phase 2 Interim Data Continues To Demonstrate Clinically Meaningful Activity In 2L+ HNSCC

Stellantis N.V. ("Stellantis" or "the Company") announces that the Company's Board of Directors, under the Chairmanship of John Elkann, accepted Carlos Tavares' resignation today from his role as Chief Executive Officer with immediate effect. &nbsp;The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established. &nbsp;
The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established. &nbsp;
Stellantis confirms the guidance it presented to the financial community on October 31, 2024, in respect of its full year 2024 results. &nbsp;

Guidance

Stellantis Board Accepts Carlos Tavares' Resignation as CEO; Stellantis Confirms FY 2024 Guidance Presented On October 31, 2024

Billionaire entrepreneur and investor Mark Cuban, who owns the Dallas Mavericks, has transformed the lives of many of his employees by making them millionaires.
What Happened: After acquiring majority ownership of the Mavericks in 2000, Cuban, known for his innovative approach and genuine concern for his employees, aimed to make a significant impact on the franchise.
He held a strong belief in acknowledging the efforts of&nbsp;those who contributed to his&nbsp;success, a principle he adopted during his initial business endeavors.
Upon selling the Mavs in 2023, Cuban ensured that long-serving team employees received $35 million in bonuses that significantly altered their lives. His influence, however, was not limited to his employees. His investment in the team, facilities, fan experience, and talent attraction resulted in the Mavericks making their first playoff appearance in over a decade during the 2000-01 season.
&#8220;I&#8217;m not there without them; I did it with my first two companies, and I wanted to do the same with the Mavs. They were there for me the whole time; it was enough money that for those who were there 20 years or more, it was life-changing money,&#8221; Cuban <a href="https://www.youtube.com/watch?v=-CbpEr5dXXw&amp;t=10s">said</a> in an interview.
Also Read: <a href="https://www.benzinga.com/news/24/11/42154924/mark-cubans-for-negotiation-success-silence-is-money">Mark Cuban&#8217;s For Negotiation Success: &#8216;Silence Is Money&#8217;</a>
"I did it with MicroSolutions, you know, we had 80 employees, they all got paid. I did it with Broadcast.com — out of 330 employees, 300 became millionaires. And I wanted to do the same thing with the Mavs. You know, they were there for me the whole time … for those who were there 20 years or more it was life-changing money," he added. 
Why It Matters: Cuban&#8217;s leadership and investment in the Mavericks not only led to the team&#8217;s first championship in franchise history in 2011 but also set a high standard for team ownership in the sports industry. 
His approach to rewarding employees has been seen as a benchmark for other franchises.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Sports

Success Stories

Mark Cuban Hands Out $35M In Bonuses To Mavericks Employees: 'It Was Life-Changing Money'

Hong Kong-based gaming firm Boyaa Interactive has traded its Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) holdings for nearly $50 million in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). This strategic move comes as Bitcoin is on the brink of reaching a significant $100,000 price milestone.
What Happened: As per a company statement released on Friday, Boyaa Interactive has converted its Ethereum holdings into Bitcoin. The gaming giant exchanged 14,200 Ethereum (ETH) for approximately&nbsp;515 Bitcoin between November 19-28,&nbsp;thereby increasing their Bitcoin holdings to 3,183 BTC, valued at $310 million at the time of the announcement.
According to&nbsp;the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1129/2024112900231.pdf">statement</a>, the value of Boyaa&#8217;s Bitcoin stash is nearly triple that&nbsp;of Japanese investment firm Metaplanet's&nbsp;Bitcoin holdings, which are around $111 million. Boyaa had initially acquired its Ethereum tokens&nbsp;for $39.45 million, at an&nbsp;average price of $2,777 per&nbsp;token.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
This considerable Bitcoin acquisition is in line with Boyaa&#8217;s wider strategy to invest in digital assets. In the previous year, the company had committed to investing&nbsp;up to $100 million in&nbsp;cryptocurrencies, including Bitcoin, Ethereum, and&nbsp;stablecoins.
Why It Matters: Boyaa Interactive is not the only company to bolster its Bitcoin reserves. Other major firms like Metaplanet and&nbsp;MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) have also been increasing their Bitcoin holdings. 
MicroStrategy recently announced the purchase of an additional 55,500 BTC, worth $5.4 billion, taking its total Bitcoin holdings to over $37 billion.
This trend indicates a growing interest and confidence in Bitcoin among major companies, despite the cryptocurrency&#8217;s notorious volatility. 
By diversifying their investments into digital assets, these firms are not only hedging against traditional market risks but also positioning themselves to benefit from potential future gains in the cryptocurrency market.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$ETH

MSTR

Gaming Company Bets Big On Bitcoin, Selling Ethereum For $50M Boost

If someone told you that earning $435,000 a year would make you one of the top 1% of earners in a U.S. state, you might scoff and guess somewhere obscure. But the real answer? It's West Virginia, where earning nearly half what's required in places like Connecticut or California can secure a spot <a href="https://www.benzinga.com/personal-finance/24/05/39069576/are-you-rich-heres-the-net-worth-you-need-to-be-poor-middle-class-and-wealthy">among the financial elite</a>.
Don't Miss:
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<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
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</ul>
In West Virginia, an annual income of $435,302 gets you into the exclusive top 1% club. Compare that to Connecticut, where you'd need a whopping $1,192,947 or California at $1,072,248. The disparity is striking, but it highlights a deeper conversation about regional living costs, economic opportunities and what it means to feel "rich" in America.
How Does West Virginia Compare to Other States?
While West Virginia tops the charts for the lowest income threshold to join the top 1%, a few other states also have relatively "affordable" entries into the elite bracket:
<ul>
<li>Mississippi: $456,309</li>
<li>New Mexico: $493,013</li>
</ul>
These figures pale in comparison to states like New York, Massachusetts or even Texas, where top earners require closer to – or over – <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/01/36665585/how-much-money-do-you-need-to-make-to-be-among-the-top-1-5-or-10-based-on-inc">a million dollars annually</a>.
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>
What's the Average Salary in West Virginia?
As of 2024, the average salary in West Virginia is roughly $55,560 per year, significantly lower than the national average of around $74,000. This gap speaks volumes about the state's economic makeup. Many industries in West Virginia, like mining, manufacturing and health care, don't offer the kind of high salaries seen in tech or finance-driven states.
This contrast between average and elite incomes shows that while $435,000 might make you a top dog, most West Virginians live in a much more modest income range.
Trending: Groundbreaking trading app with a ‘Buy-Now-Pay-Later' feature for stocks tackles the $644 billion margin lending market –<a href="https://www.benzinga.com/money/wolfpack"> here&#8217;s how to get equity in it with just $100</a>
Why Does It Take Less to Be Wealthy Here?
The reasons for West Virginia's lower threshold are pretty straightforward:
Cost of Living: West Virginia's cost of living is among the lowest in the nation. Essentials like housing, groceries and utilities cost significantly less than in coastal states.
Housing Market: Zillow reports the <a href="https://www.benzinga.com/real-estate/24/10/41541572/purely-supply-demand-imbalance-5-u-s-cities-with-homes-still-under-300k">average home value</a> in West Virginia is just $168,172, compared to the national median of $412,000. That's an enormous gap – and a huge factor in what a top salary can get you here.&nbsp;
Economic Landscape: The state lacks industries with high-paying jobs, like tech or investment banking. Fewer massive salaries mean the bar for the 1% stays lower.
Trending: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
Does This Mean a Better Quality of Life?
Maybe. With a lower cost of living, $435,000 goes much further in West Virginia than in Connecticut or California. That money can buy a beautiful home, cover all your expenses and leave plenty for savings and vacations. For many, that's the dream.
But it's not all roses. The state's economic challenges mean fewer opportunities for upward mobility and fewer options for high-paying careers. The trade-off for affordability can be fewer chances to earn more.
See Also: These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a>
Would You Feel Rich Here?
Wealth is relative. A $435,000 salary in West Virginia is undeniably "rich." Still, it might not come with the same perks as being wealthy in a bigger city – fewer Michelin-starred restaurants, no bustling nightlife and fewer big-name career opportunities.
Would you trade the hustle of a high-cost state for the affordability and natural beauty of West Virginia? It all comes down to your priorities. If you're looking for a place where your <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">money stretches further</a>, West Virginia makes a strong case – especially for high-paid remote workers who aren't limited by the state's average income levels. It might just be the perfect blend of opportunity and simplicity.
Read Next:
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<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
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Personal Finance

Can You Guess Which State Requires The Lowest Income To Join The Top 1%? You May Be Surprised At How Little It Takes To Be Rich Here

Chinese e-commerce platforms&nbsp;Temu&nbsp;and&nbsp;Shein&nbsp;are outperforming Western retailers, using social media and a wide range of affordable goods to lure consumers.
What Happened: Temu and Shein have transformed the online shopping landscape with their innovative business models and robust digital advertising. 
Owned by Chinese e-commerce firm PDD Holdings, Temu, along with its main rival Shein, have amplified consumerism with their limitless selection of low-cost products, most of which are shipped directly from Chinese vendors in response to real-time demand.
Software firm Salesforce estimates that roughly one in five online purchases in the U.S., U.K., Australia, and Canada will be made through four Asian-based or founded online marketplaces: Shein, Temu, TikTok Shop, and AliExpress, <a href="https://apnews.com/article/shein-temu-holiday-shopping-discounts-2d551895e123dedd49fa35ec58d07634">reports</a> The Associated Press.
These platforms are projected to generate around&nbsp;$160 billion in global sales&nbsp;outside of China, with Temu and Shein capturing the lion&#8217;s share.
Shein, now headquartered in Singapore,&nbsp;primarily targets young women through&nbsp;collaborations with social media influencers, using web design features like pop-up coupons and ads to keep shoppers engaged. 
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Conversely, Temu caters to a wider demographic, offering a diverse range of products from practical items to novelty goods.
However, their success has not been without controversy. Both platforms have come under fire and could face potential regulatory challenges. 
Last year, a group&nbsp;of unnamed brands and organizations&nbsp;initiated a campaign against Shein, while U.S. lawmakers expressed concerns about Temu potentially&nbsp;allowing goods made with forced&nbsp;labor into the country.
Despite these challenges, both&nbsp;Shein and Temu have set&nbsp;up warehouses in the U.S.&nbsp;to speed up delivery times&nbsp;and compete with Amazon. As they continue to grow, they are also striving to diversify their customer base beyond bargain-hungry shoppers.
Why It Matters: The rise of Temu and Shein underscores the growing influence of Chinese e-commerce platforms in global markets. 
Their success is a testament to the power of digital advertising and social media in driving consumer behavior. However, their rapid expansion also raises important questions about regulatory oversight and labor practices in the e-commerce industry. 
As these platforms continue to evolve, they will likely face increased scrutiny from lawmakers and competitors alike.
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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.
Image: Shutterstock

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Temu and Shein Are Shaking Up Western Retailers This Holiday Season

Edward Snowden has found allies in the incoming second Donald Trump administration, hinting at a possible change in his legal standing.
What Happened: Snowden, who has been residing in Russia since 2013 following his leak of classified documents from the National Security Agency, has won over influential supporters within Trump&#8217;s proposed Cabinet.
Trump&#8217;s choice for the director of national intelligence, Tulsi Gabbard, co-sponsored a resolution in 2020 calling for the U.S. to dismiss all charges against Snowden. A source close to Gabbard suggested that she would likely push for clemency for Snowden&#8217;s during Trump&#8217;s second term, reports <a href="https://nypost.com/2024/11/30/us-news/edward-snowden-has-powerful-allies-in-trump-white-house/">the</a> New York Post.
Robert F. Kennedy Jr., Trump&#8217;s pick to head Health and Human Services, is another Snowden supporter who had previously voiced his intention to &#8220;pardon Edward Snowden.&#8221;
While Vice President-elect JD Vance has not made any public statements about Snowden, insiders believe he would empathize with the whistleblower&#8217;s predicament, reports the outlet.
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Trump had contemplated pardoning Snowden in late 2020, but was met with resistance from his top officials. However, the dynamics could shift with the incoming administration.
Ben Wizner, Snowden&#8217;s lawyer, argued that Snowden&#8217;s case is &#8220;exactly the kind of case that the pardon power was created for.&#8221;
"This is exactly the kind of case that the pardon power was created for. He broke the law in the public interest, for love of country, and he's paid a price. He does not belong in exile," Wizner told the outlet. 
Tucker Carlson, a close ally of Trump, said, "Ed Snowden is a whistleblower who exposed the crimes of others, yet he's the one who's been punished while the criminals remain in power. It's hard to think of a more grotesque injustice. Anyone who argues against his pardon is your enemy." 
Why It Matters: The support Snowden has garnered within the next Trump administration could signal a significant shift in his legal status. This change could have far-reaching implications for whistleblowers and the handling of classified information.
The potential pardon of Snowden would also represent a notable departure from the stance of previous administrations. 
This development is worth monitoring as it could influence future policy decisions and the treatment of whistleblowers.
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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.
Image: Wikimedia Commons

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If you have scrolled through UK property listings recently, you might have been surprised to see stunning brand-new condos in prime London locations for as low as £100,000 ($126,000). With a 10% down payment, the home could be yours for as little as $12,600 out of pocket (not including closing costs). It almost seems too good to be true.
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A closer look at the fine print will alert you to the term &#8220;shared ownership.&#8221; What exactly does that mean? That you&#8217;ll be living with roommates who own a piece of your home? Thankfully, no. The other owner in question is the local city authority and the shared ownership concept allows new buyers to get a foothold on the UK property ladder without a high down payment. So why has the US yet to adopt this scheme and what are the downsides, if any?&nbsp;
<h2 class="wp-block-heading">&#8216;Rent to Own&#8217; On Steroids</h2>
The concept works similarly to a &#8216;rent to own&#8217; model that many real estate investors use privately in the US to allow their tenants to buy their homes one day. However, it is less widespread than the government-backed scheme in the UK. In London, a £125,000 purchase price displayed on listing sites is not the full cost of the home but rather a percentage of ownership, usually 25%. So, the full cost of the home would be £500,000, of which the buyer owns £125,000. But what about the other £375,000? The local housing authority owns that percentage and the owner pays them rent aside from the mortgage payment they make on the percentage they own.
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<h2 class="wp-block-heading">A Staircase To Full Ownership</h2>
A homeowner can buy increasing percentages of the home from their landlord in as little as 1% increments, a process called &#8220;staircasing.&#8221; According to the UK government website, there are two ways to &#8220;staircase&#8221;:
<ul>
<li>Gradual staircasing: buying shares of 1% each year</li>
<li>Standard staircasing: buying shares of 5% or more</li>
</ul>
Beyond these two amounts, there are no in-between percentages for staircases and strict guidelines govern how your home is evaluated when you wish to buy a greater ownership stake.
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<h2 class="wp-block-heading">The Downside: Increased Costs&nbsp;</h2>
Although &#8220;shared ownership&#8221; has been celebrated as a low-cost means of home ownership, recently, owners have complained about soaring service charges (management/maintenance, comparable with <a href="https://www.benzinga.com/personal-finance/24/10/41310400/exorbitant-hoa-fees-are-driving-florida-retirees-to-relocate-heres-why-costs-are-spiraling-so-hi">condo/HOA charges</a> in the US), which have increased by as much as 40%, according to an investigation by the UK&#8217;s Observer. These charges have become more expensive than the rental portion of the owner&#8217;s monthly bills.&nbsp;
&#8220;There is absolutely no clarity on what people are being charged for,&#8221; Labour MP Clive Betts, chair of the Levelling Up, Housing and Communities committee, told the Guardian. &#8220;These are not affordable homes and there is a lack of proper advice about shared ownership.&#8221;
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<h2 class="wp-block-heading">Would A Shared Ownership Scheme Work In The US?</h2>
Certain programs run by non-profits in the US are very similar to the UK shared ownership program. These shared equity homeownership programs have income caps and are limited to first-time owner-occupants — the same as in the UK. Also, <a href="https://www.benzinga.com/money/what-is-fractional-real-estate-ownership">fractional ownership</a> is popular, again on an individual basis — not through the government — in vacation homes, resorts and commercial buildings.&nbsp;
Generally, the model for personal residences is not as widespread as in the UK, as states differ markedly in their approach to housing. Sharing equity in property has not caught on nationwide in the US as a means to home ownership. However, as the <a href="https://www.benzinga.com/real-estate/24/11/41841883/housing-crisis-forces-airbnb-and-vrbo-into-the-hot-seat-as-cities-grapple-with-soaring-rents-and-mounting-public-backlash">affordability crisis</a> deepens in the US, creative concepts such as shared ownership could become more widespread.
Currently, America has various affordable housing initiatives, such as government-backed financing through<a href="https://www.benzinga.com/money/best-fha-lenders"> FHA mortgages</a> (allowing homeowners to put as little as 3.5% as a down payment even with a low credit score). No-interest second mortgages are available to cover down payment and closing costs ranging from $2,000 to $6,000 and special loans for essential workers are also common in many expensive cities. Additionally, in the US, homeowners can deduct mortgage interest on personal residences from their taxes, which is not the case in the UK.
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