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Jeff Bezos, billionaire founder of Amazon, is reportedly set to marry his fiancée, Lauren Sanchez, next Saturday in a $600 million Winter Wonderland-themed <a href="https://www.benzinga.com/news/24/01/36631415/this-amazon-applicants-interview-answer-earned-her-a-seat-3-feet-away-from-amazons-bezos">wedding in Aspen, Colorado</a>.
What Happened: According to a report, the lavish celebration follows a private engagement dinner at Matsuhisa, a high-end sushi restaurant the couple reportedly bought out for two days ahead of their nuptials.
The extravagant event is expected to feature festive decor, twinkling lights, and holiday charm. The guest list for the star-studded wedding is rumored to include high-profile names like Bill Gates, Leonardo DiCaprio and Queen Rania of Jordan, who joined the couple for their engagement celebrations in Positano, Italy, earlier this year.
As per the report <a href="https://www.dailymail.co.uk/news/article-14217859/Jeff-Bezos-Lauren-Sanchez-wedding-plan-Aspen-date-is.html">by</a> The Daily Mail, Bezos, 60, and Sanchez, 54, became engaged in May 2023 aboard Bezos' mega-yacht. The billionaire proposed with a cushion-cut pink diamond ring estimated to be worth $2.5 million.
While the pair have not publicly confirmed their wedding date, the report signals a high-profile event reflective of their luxurious lifestyle.
Also Read: <a href="https://www.benzinga.com/news/24/12/42380748/heres-how-jeff-bezos-three-simple-steps-made-amazon-a-giant">Here&#8217;s How Jeff Bezos&#8217; Three Simple Steps Made Amazon a Giant</a>
The couple first went public with their relationship in 2019, shortly after Bezos announced his divorce from MacKenzie Scott. 
Sanchez, a former broadcast journalist, shares three children from previous relationships, including two with Hollywood talent mogul Patrick Whitesell and one with former NFL player Tony Gonzalez. Bezos shares three children with his ex-wife Scott.
News of the wedding comes as Amazon workers continue to strike across four states, marking the third consecutive day of demonstrations. 
Employees are protesting workplace conditions, a move that adds an interesting juxtaposition to Bezos' high-profile personal milestone.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

News

Inside Jeff Bezos' $600M Wedding To Lauren Sánchez: Luxe Decor, Stars, And Romance

President-elect Donald Trump has intensified his legal assault on the media, filing multiple lawsuits seeking damages for what <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42571395/trumps-djt-connection-drives-this-lesser-known-crypto-stocks-nearly-3x-surge-in-a-month" target="_blank" rel="noreferrer noopener">he claims are false or misleading reports</a>.
Trump has also leveraged civil anti-fraud laws, aiming to circumvent the typically high legal barriers in defamation cases involving public figures, reports Reuters.
Legal experts believe this broad approach could serve to punish media outlets for critical coverage and force them to face financial consequences.
One of the most high-profile cases involves The Des Moines Register and pollster J. Ann Selzer, filed in Iowa state court.
See Also:<a target="_blank" href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community" rel="noreferrer noopener">MicroStrategy's Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
The lawsuit stems from a pre-election poll that showed Kamala Harris leading Trump by 3 percentage points in Iowa. Trump, who ultimately won the state by a wide margin, accuses the newspaper and Selzer of "brazen election interference," alleging they manipulated the poll and leaked it to Democratic operatives before publication.
While the Register acknowledged that the poll did not reflect the final election outcome, they stand by their reporting and consider the lawsuit without merit. Trump's legal team is seeking unspecified damages and demands an injunction to prevent deceptive practices related to the poll.
The lawsuit also targets Gannett, the parent company of The Des Moines Register, and accuses it of violating Iowa&#8217;s Consumer Fraud Act.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income" target="_blank" rel="noreferrer noopener">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy's Michael Saylor: ‘BTC Doesn't Generate Any Income'</a></li>
</ul>

Equities

Politics

Markets

General

Trump Continues Court Battle With Media With Lawsuit Against Des Moines Register

Warren Buffett, the iconic investor and chairman of Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), is renowned for his timeless <a href="https://www.benzinga.com/news/24/08/40151169/how-a-holiday-meeting-sparked-a-billion-dollar-friendship-between-bill-gates-warren-buffett">advice on wealth-building</a>.
What Happened: With a net worth of approximately $142 billion, Buffett's strategies resonate deeply with those seeking financial success. Among his key pieces of advice: start investing early, focus on small companies, and don't panic when stocks fluctuate.
During the 1999 annual shareholders' meeting, Buffett <a href="https://buffett.cnbc.com/video/1999/05/03/buffetts-advice-on-making-big-money.html">shared</a> the approach he would take if he were a recent graduate starting out with $10,000 to invest.
Buffett emphasizes the power of compound interest, likening it to rolling a small snowball down a long hill. 
"The trick is to have a very long hill, which means either starting very young or living, to be very old," he said during the shareholders' meeting. Early investing, he argues, allows your money to grow exponentially over time.
For those with limited funds, Buffett recommends focusing on smaller companies, where there's less competition from institutional investors. 
He noted that investing in good businesses, or "buying pieces of them" through stocks at attractive prices, is the key to multiplying wealth. 
Buffett said that if he were starting with $10,000 today, he'd begin by researching companies alphabetically, starting with names that begin with "A."
Also Read: <a href="https://www.benzinga.com/news/24/08/40666605/warren-buffetts-career-advice-dont-think-about-money-take-the-job-that-you-would-take-if-you-didnt-n">Warren Buffett&#8217;s Career Advice: &#8216;Don&#8217;t Think About Money, Take The Job That You Would Take If You Didn&#8217;t Need The Job&#8217;</a>
Buffett also stresses the importance of long-term thinking. "Some people should not own stocks at all because they just get too upset with price fluctuations. If you're gonna do dumb things because your stock goes down, you shouldn't own a stock at all," he <a href="https://www.cnbc.com/2018/12/17/warren-buffett-tips-on-how-to-invest-in-the-stock-market.html">told</a> CNBC in 2018.
Stock prices will inevitably dip at times, but Buffett urges investors to remain patient and focus on the long-term value of their holdings. "Buy something you like, at a price you like, and then hold it for 20 years," he advised.
He further warns against obsessing over daily stock price fluctuations. Comparing stock ownership to real estate, he said, "If you bought a farm or an apartment house, you wouldn't get a quote on it every day or every week." Instead, Buffett recommends treating stocks as long-term investments, ignoring short-term market noise.
Buffett's principles—start early, think long-term, and invest in solid businesses—remain guiding lights for those looking to build lasting wealth.
Read Next
<a href="https://www.benzinga.com/news/23/03/31512478/warren-buffetts-success-mantra-the-amount-you-are-loved-is-the-ultimate-measure-of-success-in-life" target="_blank" rel="noreferrer noopener">Warren Buffett's Success Mantra: ‘The Amount You Are Loved Is The Ultimate Measure Of Success In Life'</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Success Stories

Warren Buffett's Timeless Advice: 'If You're Gonna Do Dumb Things Because Your Stock Goes Down, You Shouldn't Own A Stock At All'

Imagine climbing to the top of Hollywood, making millions and living a life that screams "success" – then walking away from it all to live in a trailer park. It sounds like the plot of a quirky indie film. Still, it's the real-life story of Tom Shadyac, the director behind some of Hollywood's most iconic comedies, including Ace Ventura: Pet Detective and Bruce Almighty.
Shadyac <a href="https://www.benzinga.com/startups/24/12/42468734/nba-legend-shaq-owned-17-auntie-annes-franchises-but-sold-them-after-realizing-black-people-dont-like-pretzels-that-much">didn't just flirt with success</a>; he made a fortune off it. His films have grossed over $2 billion worldwide. He directed blockbusters like The Nutty Professor and Liar Liar, working with megastars like Jim Carrey and Eddie Murphy. Shadyac's net worth was around $50 million at his peak. According to Celebrity Net Worth in 2024, he owned a sprawling 17,000-square-foot mansion, a private jet and enough exotic cars to make Jay Leno jealous. And yet, Shadyac claims, "I was my least successful when I ‘had it all.'"
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So, what makes a man trade in a mansion for a <a href="https://www.benzinga.com/real-estate/23/12/36364647/shark-tank-star-barbara-corcoran-owns-a-1-million-double-wide-mobile-home-she-calls-her-taj-mahal-wh">1,000-square-foot double-wide</a> in a Malibu trailer park?&nbsp;
Shadyac started in Hollywood as a joke writer for Bob Hope, but his big break came with Ace Ventura: Pet Detective in 1994. The film, made on a modest $15 million budget, grossed over $100 million and turned Jim Carrey into a household name. From there, Shadyac's career skyrocketed.
He directed hit after hit: The Nutty Professor ($273 million worldwide), Liar Liar ($302 million) and Bruce Almighty ($485 million). For Bruce Almighty, Shadyac even negotiated a piece of the back-end profits, raking in over $30 million for that film alone. At the time, Shadyac was living the ultimate Hollywood dream.
But it wasn't long before the dream started feeling more like a trap.
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
In 2007, Shadyac's life took a dramatic turn. A biking accident left him with a severe concussion and chronic symptoms like migraines and hypersensitivity to light and sound. For months, he was essentially confined to his mansion, his mental health spiraling. He later admitted, "I felt suicidal at points. It was a disaster."
During this dark time, Shadyac had an epiphany. His extravagant lifestyle – private jets, luxury cars, a massive home – felt hollow. The things that were supposed to signify success had become "trappings."
Shadyac decided to give away his fortune in a move that shocked Hollywood. He sold his mansion, his cars and his jet. He then started <a href="https://www.benzinga.com/startups/24/01/36830715/jeff-bezoss-ex-wife-mackenzie-scott-has-given-over-16-billion-to-charity-since-her-divorce-as-jeff-b">donating millions to causes close to his heart</a>, like homelessness, environmental conservation and animal welfare. He even helped fund a homeless shelter in Charlottesville, Virginia and supported St. Jude's Children's Research Hospital.
Trending: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Shadyac moved into a trailer park in Malibu, where his modest home stands in dramatic contrast to the lives of Hollywood's elite. He says the decision was liberating:
"The more I give away, the wealthier I feel. For everything I ‘gave up,' so much more was returned."
Shadyac didn't just change his ZIP code; he changed his entire worldview. In 2011, he directed I Am, a documentary exploring two fundamental questions: "What's wrong with the world?" and "What can we do about it?" The film examines the pursuit of happiness and the consequences of excessive materialism.
He executive-produced Happy, another documentary examining what brings joy across different cultures. These projects reflect Shadyac's belief that life isn't about accumulating wealth but building connections and giving back.
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As he puts it:
"No one is ever looking to have a more robust IRA when they are on their deathbed. They are saying, ‘I am so happy that I had the opportunity to love this family, to be a part of something.'"
Shadyac's story reminds us that success isn't just about what you earn; it's about what you give back. While his Hollywood peers chase box office records and six-figure paychecks, Shadyac has found peace in simplicity.
It's easy to dismiss his decision as extreme, but Shadyac sees it differently. To him, living a life centered on giving and purpose is far more fulfilling than jet-setting and luxury cars. "The trappings of fame and fortune are exactly that – a trapping," he says.
From the director's chair to a double-wide in Malibu, Tom Shadyac has proved that happiness isn't about having it all but knowing what truly matters.
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'I Was My Least Successful When I Had It All' – Ace Ventura Director Made $50 Million Then Gave It All Away To Live In A Trailer Park

Anthony Scaramucci, founder of SkyBridge Capital, has dismissed concerns surrounding Michael Saylor and MicroStrategy Inc., suggesting fears of a potential collapse due to Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) volatility are exaggerated. 
What Happened: In an interview on Friday, Scaramucci pointed to Saylor's long-term debt strategy as evidence of MicroStrategy's resilience.
"People think if Bitcoin crashes, he is going to implode," Bloomberg quoted Scaramucci <a href="https://www.bloomberg.com/news/articles/2024-12-20/scaramucci-says-concern-over-microstrategy-s-debt-is-overblown?sref=TBDibEcD">saying</a> during the interview. "But if you really study his balance sheet, he has long, long-term debt, and he has rolling long-term debt. You'd have to have a systemic collapse in Bitcoin lasting six or seven years to flash him out." 
MicroStrategy's bold bet on Bitcoin has driven a more than 400% surge in its stock this year, while the company financed purchases with billions in convertible debt.
The company currently has $7.2 billion in outstanding convertible debt, including $6 billion raised in 2024 alone. While some worry Bitcoin's price drops could force MicroStrategy to offload its holdings, further depressing prices, Scaramucci argued this narrative is overblown, reports the outlet. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42378636/scaramucci-bitcoin-is-a-volatile-asset-but-ready-for-prime-time-institutional-investing">Scaramucci: Bitcoin Is a Volatile Asset, But &#8216;Ready for Prime Time Institutional Investing&#8217;</a>
"The narrative of him being forced to sell hundreds of thousands of tokens into the market, I think it's a forced narrative," he said, comparing MicroStrategy's structure to that of Lehman Brothers' during the 2008 financial crisis.
MicroStrategy remains a top holding of the First Trust SkyBridge Crypto Industry and Digital Economy ETF, sub-advised by SkyBridge Capital. Scaramucci praised Saylor's innovative approach, saying, "He's created this positive flywheel by issuing debt and equity."
Why It Matters: Bitcoin has recently pulled back from an all-time high of $108,000, retreating amid profit-taking and market volatility. Scaramucci anticipates potential corrections in the 30-40% range, which could bring Bitcoin's price to $60,000-$70,000. 
However, he remains optimistic about Bitcoin's long-term trajectory, citing favorable regulatory developments and U.S. exchange-traded funds investing directly in the cryptocurrency.
"Could it get to $18 trillion dollars in market cap?" Scaramucci speculated. "We believe that it could. Is it a direct line to $18 trillion? No."
Read Next
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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

Cryptocurrency

$BTC

MSTR

Scaramucci Defends MicroStrategy's Bitcoin Strategy, Predicts Long-Term Crypto Growth

These nine mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) rocketed 162.79% after the company announced it was awarded a prime contract by NASA to apply Dirac-3 for imaging <a href="https://www.benzinga.com//node/42554980" target="_blank" rel="noreferrer noopener">and data processing support</a>.</li>
<li>BlackBerry Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) shares surged 37.17% after the company <a href="https://www.benzinga.com//node/42606549" target="_blank" rel="noreferrer noopener">reported third-quarter results</a>. Analysts revised the price <a href="https://www.benzinga.com/quote/bb/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast on the stock</a>.</li>
<li>IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) stock upped 31.30% after Craig-Hallum raised its price forecast from $22 to $45 while <a href="https://www.benzinga.com/quote/ionq/analyst-ratings" target="_blank" rel="noreferrer noopener">maintaining a Buy rating</a>.</li>
<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) shares escalated 30.87%, probably due to continued strength amid <a href="https://www.benzinga.com//node/42569883" target="_blank" rel="noreferrer noopener">momentum towards Quantum-related companies</a>.</li>
<li>SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) shares were up 28.65% following several notable announcements <a href="https://www.benzinga.com//node/42507758" target="_blank" rel="noreferrer noopener">from the company regarding conversational AI</a>.</li>
<li>Xometry, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XMTR#NASDAQ">XMTR</a>) stock rose 19.88% after JP Morgan upgraded it from Neutral to Overweight and <a href="https://www.benzinga.com/quote/xmtr/analyst-ratings" target="_blank" rel="noreferrer noopener">raised its price forecast from $25 to $45</a>.</li>
<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) stock upped 17.05%. NBA Hall of Famer and analyst Shaquille O&#8217;Neal has added a custom Lucid Air to his list of vehicles, including several Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck <a href="https://www.benzinga.com//node/42556676" target="_blank" rel="noreferrer noopener">electric pickup trucks.</a></li>
<li>Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) stock increased 16.14% after the company and Switch signed a non-binding Master Power Agreement to deploy 12 gigawatts of Oklo Aurora <a href="https://www.benzinga.com//node/42554232" target="_blank" rel="noreferrer noopener">powerhouse projects through 2044</a>. Also, Wedbush initiated coverage on the stock with an Outperform rating and announced <a href="https://www.benzinga.com/quote/oklo/analyst-ratings" target="_blank" rel="noreferrer noopener">a $25 price forecast</a>.</li>
<li>Azenta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZTA#NASDAQ">AZTA</a>) stock rose 12.24% after Stephens &amp; Co. upgraded the stock to Overweight from Equal-Weight and <a href="https://benzinga.com/quote/azta/analyst-ratings" target="_blank" rel="noreferrer noopener">raised its price forecast from $50 to $60</a>.</li>
</ol>
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<li><a href="https://www.benzinga.com/news/large-cap/24/12/42638256/teva-pharmaceutical-li-auto-and-darden-restaurants-are-among-top-large-cap-gainers-last-week-december-16-20-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Teva Pharmaceutical, Li Auto, And Darden Restaurants Are Among Top Large Cap Gainers Last Week (December 16-20): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com//node/42638379" target="_blank" rel="noreferrer noopener">Novo Nordisk, Super Micro Computer And Arm Are Among Top Large Cap Losers Last Week (December 16-20): Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

Mid Cap

Movers

Trading Ideas

AZTA

IONQ

LCID

OKLO

QBTS

QUBT

RGTI

SOUN

TSLA

XMTR

Quantum Computing, BlackBerry And Lucid Group Are Among Top Mid Cap Gainers Last Week (December 16-20): Are The Others In Your Portfolio?

Robert Kiyosaki, businessman and author of Rich Dad, Poor Dad, is once again sounding the alarm about a potential global financial crisis.
What Happened: In a recent post on X, he urged individuals to take action now by investing in gold, silver, and Bitcoin, which he views as essential assets for safeguarding wealth.
Kiyosaki didn't mince words when criticizing the current financial system, labeling the U.S. government, Treasury, and Federal Reserve as a "Den of Thieves." 
His distrust stems from key historical events, such as the 1965 replacement of silver coins with cheaper alloys and President Richard Nixon's 1971 decision to take the U.S. off the gold standard. Kiyosaki believes these actions marked the beginning of a financial system in decline.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">THANK YOU gold, silver and Bitcoin HODLERS: I do not trust the US Giverment, the US Treasury, or the FED. If you trust these Den of Thieves that is your choice. I stopped trusting my government in 1965, when I noticed our silver coins were now alloys of cooper. In 1971…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1870288365150781627?ref_src=twsrc%5Etfw">December 21, 2024</a></blockquote>
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</figure>
A long-time critic of fiat currency, which he calls "fake money," Kiyosaki argues that it exploits the public and erodes wealth. Instead, he advocates for tangible assets like gold, silver, and Bitcoin, which he sees as reliable ways to preserve value during uncertain times. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42255036/kiyosaki-on-bitcoin-100000-almost-impossible-for-the-poor-and-middle-class-to-catch-up">Kiyosaki on Bitcoin $100,000: &#8216;Almost Impossible for the Poor and Middle Class to Catch Up&#8217;</a>
"Protect your wealth by investing in real assets," he advises, emphasizing that these alternatives provide stability against economic volatility.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">OMT One More Thing: As you know our money is fake and our financial leaders are corrupt. For example Trump asked Fed Chairman Powell if he would resign from the Federal Reserve Bank. Powell said "No" just as Biden wants to pardon his son and family from all criminal…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1870317737983250621?ref_src=twsrc%5Etfw">December 21, 2024</a></blockquote>
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In addition to his investment recommendations, Kiyosaki underscores the importance of financial education. He encourages individuals to learn about money and make informed investment decisions. "Use resources like YouTube to educate yourself," he said, urging people to take control of their financial futures.
As concerns about financial instability grow, Kiyosaki's warnings resonate with many investors seeking to safeguard their wealth. 
His advice to invest in real assets and prioritize financial literacy offers a practical approach to navigating uncertain economic times.
Read Next
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Global

Kiyosaki Warns of Global Financial Crisis: 'Protect Your Wealth by Investing in Real Assets'

According to JP Morgan, U.S. large-cap biopharma stocks have underperformed the broader market for two consecutive years, with mixed sentiment shaping investor outlook for 2025.
Despite strong fundamentals and advancements in drug pipelines, factors such as political uncertainty and sector rotation have hindered the sector's performance relative to the S&amp;P 500.
In 2024, biopharma stocks rose by 9.6%, falling short of the S&amp;P 500's 28.5% surge. However, JP Morgan analysts maintain a positive outlook for several key players.
Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), a top pick for the firm, is projected to see continued growth in its diabetes and obesity treatments, <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41622207/eli-lilly-q3-earnings-mounjaro-sales-more-than-double-takes-2-98-billion-hit-to-profit-cuts-annua" rel="noreferrer noopener">Mounjaro and Zepbound</a>. The analyst also pointed to the company's robust pipeline and forecasted double-digit revenue and earnings growth into the 2030s.
Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) has been added to JP Morgan's Analyst Focus List due to the strong potential of its schizophrenia drug, Cobenfy, which could achieve peak sales of $10 billion.
Similarly, Merck &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) and Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) are expected to recover in 2025, following challenges in 2024 related to <a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38208816/eye-drug-eylea-price-manipulation-regeneron-faces-us-justice-department-allegations-over-medicare" rel="noreferrer noopener">competitive pressures </a>and regional dynamics <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40168774/mercks-blockbuster-vaccine-gardasil-sales-in-china-analyst-highlights-challenges-an" rel="noreferrer noopener">affecting key products</a>.
Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) is poised for growth with the anticipated mid-2025 launch of lenacapavir <a target="_blank" href="https://www.benzinga.com/quote/GILD" rel="noreferrer noopener">for HIV prevention</a>.
The firm also highlighted AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) for its appealing valuation, supported by strong Skyrizi and Rinvoq sales despite fewer near-term <a target="_blank" href="https://www.benzinga.com/quote/ABBV" rel="noreferrer noopener">pipeline developments</a>.
Animal health stocks are also projected to rebound in 2025. JP Morgan views Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) as the strongest pick in the sector, citing its potential for high single-digit revenue <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41722660/zoetis-q3-earnings-beat-companion-animal-segment-growth-gives-confidence-into-2025-" rel="noreferrer noopener">growth and margin expansion</a>. IDEXX Laboratories, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) is another solid choice, though its performance depends on a r<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41659873/idexx-laboratories-adjusts-guidance-as-q3-revenue-growth-slows-analyst-notes-fewer-" rel="noreferrer noopener">ecovery in veterinary visits</a>. Meanwhile, Elanco Animal Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) faces uncertainties linked to its <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41817807/elanco-animal-q3-earnings-profit-beat-new-products-and-stabilized-business-to-drive" rel="noreferrer noopener">new product launches</a>.
Specialty pharmaceuticals showed early signs of stabilization in 2024, benefiting from improved pricing stability and supply dynamics. Perrigo Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) and Viatris Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTRS#NASDAQ">VTRS</a>) are highlighted as promising opportunities, while Teva Pharmaceuticals Industries Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) may face growth challenges despite delivering strong clinical trial <a target="_blank" href="https://www.benzinga.com/general/biotech/24/12/42561832/teva-pharmaceutical-releases-impressive-phase-2-candidate-data-for-gastro-related-diseases" rel="noreferrer noopener">results this year</a>.
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Photo via Shutterstock

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Big Biopharma Trails Behind The Market: JP Morgan's 2025 Outlook on Eli Lilly, Merck, and More

Victims of the hacking of defunct New Zealand-based crypto exchange Cryptopia are finally seeing restitution, with $225 million in digital assets being distributed to former account holders.
What Happened: The distributions mark a significant milestone in the exchange's liquidation process, which has been ongoing since 2019.
According to the press <a href="https://www.grantthornton.co.nz/press/press-releases-2024/cryptopia-account-holders-receive-%24400m-from-liquidators/">release</a> from accounting firm Grant Thornton, over 10,000 verified users of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) have received their initial cryptocurrency distributions.
"Within the last 48 hours, over $225 million in cryptocurrency has been returned on-chain," the statement reads.
Cryptopia suffered a devastating hack in January 2019, leading to millions of dollars in crypto theft. By May of the same year, the company appointed liquidators, citing the move as being in the "best interests of customers, staff, and other stakeholders."
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39445624/rapper-50-cent-allegedly-caught-in-crypto-scam-defrauding-users-of-300-million-in-just-30-">Rapper 50 Cent Allegedly Caught In Crypto Scam Defrauding Users Of $300 Million In Just 30 Minutes</a>
The liquidators ensured the distribution process adhered to a 2020 court ruling, which declared that digital assets held by Cryptopia are property in the context of liquidation. 
This legal precedent was critical in shaping the current distribution efforts and ensuring fair outcomes for affected users.
The milestone represents a long-awaited step forward for thousands of Cryptopia customers, many of whom have been waiting for years to recover their funds. 
With this progress, the liquidators aim to rebuild trust in the industry and demonstrate the potential for resolution in crypto-related legal cases.
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<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36525844/north-korean-hackers-swiped-600-million-worth-of-crypto-in-2023-expected-to-carry-out-more">North Korean Hackers Swiped $600 Million Worth Of Crypto In 2023, Expected To Carry Out More Attacks, Warns Report</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Wikimedia Commons

$DOGE

Cryptopia Hack Victims Receive $225 Million In Distributions At Last

NBA great Michael Jordan has finally sold his sprawling mansion in the Chicago suburbs after over a decade on and off the market.
Originally listed in 2012 for $29 million, the nine-bedroom Highland Park estate recently sold for $9.5 million, according to property records. The 56,000-square-foot compound is on seven acres of land down the road from the Chicago Bulls' old practice facility, the Berto Center in Deerfield.
The buyer's identity has not yet been disclosed in public records and appears to have purchased the property without representation by a real estate agent.
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The iconic home, filled with personalized touches <a href="https://www.benzinga.com/startups/24/10/41549835/michael-jordan-the-nbas-first-billionaire-once-bet-100-000-on-a-game-of-rock-paper-scissors-i-enjoy">paying tribute to Jordan</a>, may have contributed to its extended time on the market. In 2015, the asking price was reduced to $14.855 million – a nod to Jordan's legendary jersey number 23, as the digits add up to the iconic number.
The <a href="https://www.benzinga.com/general/sports/24/12/42403470/michael-saylor-uses-lebron-james-michael-jordan-sports-analogy-to-explain-bitcoin-to-dave-portnoy-satoshi-gave-us-a-game-we-can-all-win">former Chicago Bulls star</a>, who hasn't lived there for years, has now officially sold the estate, giving it a new owner after 12 long years.
The mansion, where Jordan lived for 19 years, sold at a steep 67% discount from its original asking price.
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The median sale price of a home in Highland Park was $729,000, up 19.9% since last year, according to Redfin. On average, homes in Highland Park sell after 56 days on the market, compared to 49 days last year.
"Even at its reduced price, Jordan's home sold for more than the multimillion-dollar homes near Lake Michigan, which rarely sell for more than $5 million," Reddit user wjbc posted on the platform. "As the real estate people say, ‘The top three keys to success in real estate are location, location, location.' If your home is much more expensive than the other homes in the neighborhood, it's usually going to be hard to sell, even if you are Michael Jordan."
Listing agent Katherine Malkin of Compass told The Wall Street Journal that Jordan purchased the property in 1991 and invested about $50 million to build the home.
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The estate is filled with tributes to Jordan's legendary basketball career, including the number 23 prominently displayed on the front gate, his iconic Air Jordan logo on the full-size indoor basketball court and flagsticks on the putting green.
An infinity pool on the grounds includes a grass island.
Despite creative efforts to sell the property – such as offering a complete set of Air Jordans with the purchase and marketing the home through Mandarin-language videos targeting Jordan's fans in China – the mansion remained unsold and unoccupied for years.
Jordan now divides his time between North Carolina and Jupiter, Florida.
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Real Estate

From Slam Dunk To Deep Discount – Michael Jordan's Mansion Sells After 12 Years But At How Big Of A Loss?

<a href="https://www.ft.com/content/6cfdfe2b-6872-4963-bde8-dc6c43be5093" title="https://www.ft.com/content/6cfdfe2b-6872-4963-bde8-dc6c43be5093">https://www.ft.com/content/6cfdfe2b-6872-4963-bde8-dc6c43be5093</a>

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Financial Times Reported Sunday, Palantir, Anduril Reportedly Forming Consortium With Competitors To Jointly Bid For U.S. Government Contracts

In a strategic effort to enhance monetization opportunities within the Telegram ecosystem, TON has been working with Adsgram, a dedicated advertising platform tailored for Telegram.
Adsgram emerged from its founder Vadim Sterlin&#8216;s firsthand challenges in monetizing his Fanton game, highlighting a broader issue faced by the GameFi community on Telegram and the TON network.
As a seasoned Adtech product manager, Sterlin highlighted earlier this year in the Adsgram community the scarcity of effective tools for publishers to generate revenue through advertising, underscoring the urgent need for innovative solutions in this space.
Benzinga recently caught up with Sterlin, the CEO and founder of Adsgram. Here's an excerpt from the interaction.   
What factors contributed to Adsgram attracting over 550 mini apps in just six months?
The market required a simple, clear, and scalable solution for monetizing mini-apps, and we were the first to deliver something to meet this growing demand. Our team has a wealth of experience in developing mini-apps, having built one of TON ecosystem's most popular mini-apps in the form of Fanton fantasy football. This gave us unique insights into what developers actually need, and enabled us to refine and optimize the platform for an experience that is as user-friendly as possible.&nbsp; This set us apart from our competitors and helped us to attract many mini-apps to Adsgram during the early stages of our project.
Monetizing Telegram mini-apps has historically been challenging. Individual applications often struggle to connect with advertisers, especially when they're looking to engage larger players in the advertising market. Adsgram filled this gap in the market by offering a unified and seamless solution to help mini apps find new audiences and grow their products.&nbsp;
How does Adsgram tailor advertising specifically for Telegram mini apps compared to traditional ad platforms?
The way that mini-apps bridge Web2 and Web3 is a fascinating aspect of the platform. This position at the intersection of these two worlds opens up exciting opportunities to implement strategies that bridge these two ecosystems. Initially, users were primarily drawn to ads for the rewards they offered in terms of user acquisition. Traffic characteristics and working funnels had to be adjusted, and users had to be educated on how to interact with the new model that we are looking to popularise.&nbsp; Over time, advertisers and users have adapted, creating a mutually beneficial system.&nbsp;
The hallmark of advertising in mini-apps is its simplicity. We intentionally set strict limits on the size of banners and video clips to ensure that any user, on any device, can easily view and engage with the advertising content. A recent innovation we've introduced is the ability for developers to target users by wallet. In addition to traditional targeting options, such as location, language, platform, and premium accounts, focusing on wallet activity grants a deeper understanding of user behaviour in the Web3 space &#8211; this allows advertisers to identify the most financially active and crypto-savvy users within the Telegram ecosystem.
What makes Adsgram attractive to large mobile applications and service providers as advertising partners?
The traffic generated through Telegram Mini Apps (TMA) is not only highly cost-effective but also exceptionally transaction oriented. This is particularly evident when looking at cryptocurrency, where many of the most successful recent projects have leveraged blockchain and airdrop technologies to drive engagement. What sets Adsgram apart is its ability to tap into Telegram's vast audience, which is now close to exceeding one billion users.
How did you identify the need for a dedicated advertising platform within the Telegram mini apps ecosystem?
In 2024, several applications experienced rapid growth, including Notcoin, Hamster Kombat, and Blum. However, all of them relied on inefficient, manual ad sales. This sparked our interest in automating ad sales and building an open, transparent advertising marketplace for Telegram mini-apps. To bring this vision to life, we collaborated with TON Foundation, who believed in our idea and supported the development of Adsgram.
What new features or enhancements can we expect from Adsgram as the mini app space continues to grow? We recently introduced additional targeting options for VPN and wallet users. Further enhancing targeting accuracy and precision will remain a key focus as Adsgram evolves. The market is evolving rapidly, bringing with it new demands for advertising. In response, we've already expanded our platform with several new advertising formats. In the future, we plan to introduce task functionality for our partners. This functionality will help to engage users with our advertising even further, with both the application hosting ads and the user earning crypto rewards for engaging with our product. These tasks will undergo manual moderation, ensuring quality and providing our partners with even more opportunities to earn.

Interview

Targeting Accuracy And Precision Will Remain A Key Focus As Adsgram Evolves, Says Vadim Sterlin

Quantum computing is emerging as a game-changing technology poised to revolutionize industries, much like how <a href="https://www.benzinga.com/general/market-summary/24/12/42569883/quantum-computing-rigetti-d-wave-skyrocket-up-to-300-in-5-sessions-after-google-unveils-willow-chip-but-analysts-urge-caution-not-every-tiktok-guitarist-is-the-next-taylor-swift" target="_blank" rel="noreferrer noopener">artificial intelligence (AI) has transformed the digital landscape</a>.
As we head toward 2025, experts predict that quantum computing will be the next major frontier in tech, unlocking unprecedented computational power and driving breakthroughs in fields such as cryptography, drug discovery, and optimization.
At the heart of quantum computing's potential is the quantum bit, or qubit, which can represent multiple states simultaneously, allowing quantum computers to process data exponentially faster than classical computers. In fact, recent advancements have already shown the immense promise of this technology.
For example, Alphabet Inc.&#8217;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>)
Quantum AI division, led by Hartmut Neven, recently unveiled its <a href="https://www.benzinga.com/tech/24/12/42397333/google-quantum-ais-new-willow-chip-can-do-in-minutes-that-supercomputers-would-take-10-septillion-years" target="_blank" rel="noreferrer noopener">latest quantum chip, Willow</a>. This chip reduces errors exponentially and completed a benchmark computation in under five minutes—an operation that would have taken one of the fastest supercomputers 10^25 years to finish.
The rise of quantum computing presents a compelling complement to AI, as it has the potential to enhance AI models and algorithms, helping unlock entirely new frontiers in science and technology. As this technology advances, it could usher in a new wave of innovation, particularly in industries reliant on complex data processing and problem-solving.
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Market Growth and Investment Opportunities
The quantum computing market is set for explosive growth. According <a href="https://www.fortunebusinessinsights.com/u-s-quantum-computing-market-107727" target="_blank" rel="noreferrer noopener">to</a> Fortune Business Insights, the U.S. quantum computing market, valued at $138.2 million in 2022, is projected to skyrocket to $1.2 billion by 2030, growing at a CAGR of 31.7%. 
This surge is driven by increasing investment and initiatives like those outlined by the White House in May 2022.
For investors looking to capitalize on this booming sector, top companies include Top stocks to invest:
<ul>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</li>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>)</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</li>
<li>IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>)</li>
<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)</li>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>)</li>
<li>D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>)</li>
</ul>
Quantum-focused ETFs offer a diversified approach to investing in this transformative space. Per Rising Wave, <a target="_blank" href="https://risingwave.com/blog/top-quantum-computing-etfs-for-growth/" rel="noreferrer noopener">investing</a> in quantum computing ETFs offers a distinctive chance to participate in a technological revolution.
<ul>
<li>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</li>
<li>WisdomTree Cloud Computing Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WCLD#NASDAQ">WCLD</a>)</li>
<li>Global X Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOU#NASDAQ">CLOU</a>)</li>
<li>ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>)</li>
</ul>
As quantum computing approaches mainstream adoption, it will likely become one of the most exciting areas of growth in the tech industry over the next few years.

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Quantum Computing: The New AI? A Look at the Rapidly Expanding Market and Top Stocks For 2025

As we are amid the holiday chaos and joy, hunting down presents at the last minute before getting together with our families, financial expert <a href="https://www.benzinga.com/personal-finance/24/12/42500258/have-more-than-you-need-dont-waste-it-suze-orman-reveals-how-ira-charitable-gifts-can-cut-taxes-and-shrink-your-rmds">Suze Orman</a> strongly warns about the dangers of buying gifts with credit cards. On a <a href="https://omny.fm/shows/suze-ormans-women-and-money/suze-school-are-you-in-financial-panic-mode">recent episode</a> of her Women &amp; Money podcast, Orman cautioned listeners against letting financial guilt or societal pressures lead them into debt during the season of giving.
Orman discusses how many people carefully manage their finances throughout the year only to undo that progress in December. She refers to the last ten days before <a href="https://www.benzinga.com/personal-finance/24/12/42317960/warren-buffett-used-to-gift-loved-ones-10000-cash-for-christmas-but-switched-to-stocks-with-a-note-cash-them-in-or-hold-onto-them">Christmas</a> as &#8220;G-Day&#8221; or &#8220;Gift Day,&#8221; when financial guilt and holiday spirit often lead to impulsive spending.
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&#8220;You only went in there to spend maybe $50…and before you know it, you walk out with, typically, by the way, around $600 or $700 worth of items,&#8221; Orman explains. She adds that people think they are saving with the discounts that retailers offer around this time but in reality, most people spend way more and even go into debt.
Using hypothetical scenarios, Orman outlines how small credit card purchases can snowball into significant debt. For instance, charging $1,000 for holiday gifts on a credit card with a 28% interest rate can take over nine years to pay off if only minimum payments are made. The total cost? Nearly $3,000 when factoring in interest.
According to Orman, the average American carries $6,329 in <a href="https://www.benzinga.com/24/11/42013422/credit-card-balances-rise-as-delinquencies-falls-the-latest">credit card debt</a>, with an average interest rate of 23.37%. At these rates, paying only the minimum due can take more than 21 years to clear the balance, costing thousands of dollars in interest.
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"You are not being generous to yourself," Orman said about those left with credit card debt after the holidays. "You are financially sabotaging your future."
A MarketWatch survey found that 67% of Americans use credit cards for holiday gifts. About 12% of those surveyed said they are still paying off their balances from last year's shopping.&nbsp;
Orman also reflects on her experiences visiting homes during her time on <a href="https://www.benzinga.com/personal-finance/24/07/39693693/suze-orman-tells-oprah-instead-of-starbucks-everyday-a-25-year-old-putting-100-a-month-into-roth">The Oprah Winfrey Show</a>. She often found closets filled with unused gifts that recipients didn't like but felt guilty returning. &#8220;You wasted their money by taking this gift under the pretense that you loved it,&#8221; she told those who kept the gifts. Even well-intentioned purchases can create emotional and financial burdens if they are not truly needed or appreciated.
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To Orman, real generosity means giving in a way that doesn't jeopardize your financial health. She advises only buying gifts with cash—and only if you have no existing credit card debt, a fully funded emergency fund and adequate retirement savings.
If those conditions aren't met, Orman suggests finding creative, cost-free ways to show love and appreciation. Honesty about your financial limitations can inspire mutual understanding and strengthen relationships.
Orman's message is clear: buying gifts with credit cards, especially when you're already in debt, is a form of self-sabotage. She encourages listeners to think beyond the fleeting joy of holiday giving and focus on the long-term impact on their <a href="https://www.benzinga.com/personal-finance/24/10/41555075/millennials-and-gen-z-rely-on-parents-for-financial-support-survey-finds-its-costing-them-their-">financial future</a>.
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Suze Orman Says If You Buy Someone A Gift On A Credit Card, 'You Are Financially Sabotaging Your Future'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly developing a smart doorbell camera with Face ID technology that could unlock doors using facial recognition. 
According to Bloomberg's Mark Gurman in his &#8220;Power On&#8221; newsletter, the innovative device may be released by the end of 2025 "at the soonest."
The smart lock system would function similarly to an iPhone, unlocking doors when a registered user or resident is recognized by the camera. Apple plans to integrate its Secure Enclave chip, which securely stores and processes Face ID data separately from other hardware, ensuring high security.
In his <a href="https://www.bloomberg.com/news/newsletters/2024-12-22/apple-explores-amazon-ring-doorbell-competitor-with-face-id-airpods-heart-rate?srnd=undefined&amp;sref=TBDibEcD">post</a>, Gurman suggests that the device will likely work with third-party HomeKit-enabled smart locks. Apple may also partner with a smart lock manufacturer to deliver a complete system at launch. 
Additionally, the doorbell camera is expected to utilize Apple's in-house "Proxima" chip, a Wi-Fi and Bluetooth combination set to feature in upcoming HomePod Mini and Apple TV models next year.
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&#8220;Also next year, Apple will roll out upgrades to existing home devices: its TV set-top box and HomePod mini smart speaker. That will add an advanced&nbsp;wireless chip dubbed Proxima&nbsp;and better support the new Thread standard for wirelessly linking products in the home,&#8221; Gurman wrote in the post. 
This doorbell camera is part of Apple's broader push into smart home technology under its Apple Intelligence initiative. Rumored products include new smart home cameras, an Apple-branded TV, and smart displays. 
These displays are said to include an iPad-like device that attaches magnetically to wall mounts or speaker bases and another equipped with a robotic arm for enhanced flexibility.
Apple's continued expansion into smart home solutions signals its commitment to creating a cohesive ecosystem of devices designed to enhance daily life with seamless integration and advanced security.
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AAPL

Apple Developing Face ID Smart Doorbell To Unlock Doors By Late 2025

Elon Musk, the richest person in the world, has reached a <a href="https://www.benzinga.com/markets/equities/24/12/42435201/elon-musks-net-worth-surpasses-market-cap-of-us-giants-like-bofa-johnson-johnson-salesforce-chevron-coca-cola-and-more-only-25-companies-have-higher-market-cap">level of wealth</a> that only one other individual in history has come close to – oil magnate <a href="https://www.benzinga.com/personal-finance/24/03/37792386/warren-buffett-says-even-the-bottom-2-of-earners-all-live-better-than-john-d-rockefeller-and-he-">John D. Rockefeller</a>.
Musk&#8217;s staggering net worth of $474 billion at the time of writing, or 1.61% of the U.S. GDP based on <a href="https://www.bea.gov/sites/default/files/2024-11/gdp3q24-2nd.pdf">third-quarter data</a>, is reminiscent of Rockefeller&#8217;s dominance when his fortune peaked at 1.5% of GDP. In other words, Musk's wealth has surged into a realm not seen in contemporary times, much like Rockefeller&#8217;s unparalleled economic influence more than a century ago.
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‘
Tesla's recent stock surge largely fuels Musk's fortune. Tesla's stock price has risen 86% this year, hitting record highs after Donald Trump won the 2024 election. Experts believe Tesla could perform even better under Trump's administration due to policies expected to support self-driving cars and reduce tax credits that benefit Tesla's competitors.
According to <a href="https://www.benzinga.com/general/education/24/01/36454392/worlds-top-10-richest-people-gained-more-wealth-in-2023-than-walmarts-total-value-how-elon-musk">Bloomberg&#8217;s year-end valuation of $229 billion</a>, Musk gained $245 billion in 2024 alone. This is so massive that it exceeds the combined net worth of all but two other billionaires: Mark Zuckerberg ($221 billion) and Jeff Bezos ($251 billion).
John D. Rockefeller, the founder of Standard Oil, was the original "world's richest man." By his death in 1937, his net worth stood at $1.4 billion, representing 1.5% of the <a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=47167">U.S. GDP</a>.
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Rockefeller's wealth came from his near-total control of the oil industry, which powered the Industrial Revolution. His company, Standard Oil, controlled 90% of U.S. oil refining. Standard Oil, however, was split up into 34 companies in 1911 due to public outcry and judicial scrutiny; several of these businesses, like ExxonMobil and Chevron, continue to dominate the oil industry today.
While Musk&#8217;s income comes from cutting-edge industries like space exploration, electric cars, and artificial intelligence, Rockefeller&#8217;s fortune came from an indispensable resource – oil – that characterized an entire era. Yet, both men represent a financial dominance that's hard to fathom.
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Here&#8217;s a comparison to grasp how large Musk's fortune really is. All NFL, NBA, MLB, and NHL teams combined are valued at $433.57 billion. Musk could theoretically <a href="https://www.benzinga.com/general/sports/24/12/42521401/elon-musk-is-so-rich-he-could-buy-every-mlb-nba-nfl-nhl-team-and-still-have-cash-left-over">buy every professional sports team</a> in North America and still have over $43 billion left over.
Musk's wealth may keep growing. The Trump administration's <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42046316/trump-set-to-hand-musk-golden-path-for-tesla-after-reversing-course-on-autonomous-vehicle-ban">potential policies</a> supporting self-driving vehicles and limiting EV tax credits for competitors could directly benefit Tesla. SpaceX also seems to be gaining from future government contracts, especially with Trump nominating Jared Isaacman – a SpaceX investor and friend of Musk – to lead NASA.
However, Musk still faces challenges. A <a href="https://www.benzinga.com/24/12/42495275/elon-musk-can-now-appeal-to-restore-56-billion-pay-package-from-tesla-report">legal battle</a> over his 2018 Tesla pay package could impact his fortune if courts uphold the recent ruling against it.
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'Rockefeller Rich' – Elon Musk's Wealth Hits 'Rockefeller Rich' Levels, Equivalent To A 1.6% Share Of The U.S. GDP

Michael Saylor&#8216;s MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) fell in the last five sessions amid heightened volatility due to concerns over hurdles in its S&amp;P 500 inclusion and falling Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">prices</a>.
What Happened: While MicroStrategy meets the S&amp;P 500&#8217;s market capitalization and trading volume benchmark requirements, it doesn&#8217;t fulfill the earnings criteria, said Benchmark, according <a href="https://in.investing.com/news/analyst-ratings/benchmark-keeps-buy-rating-on-microstrategy-stock-cites-nasdaq-inclusion-93CH-4577084">to</a> a report by Investing.com.
In order to be listed on the S&amp;P 500, a company is required to have positive earnings in the latest quarter. Additionally, the listing criterion states that it should have had positive earnings in the preceding four quarters, as well.
The company also faces an issue wherein its Bitcoin holdings cannot be accounted for in its financial statements. Benchmark analyst Mark Palmer says that MicroStrategy is poised to adopt new Financial Accounting Standards Board guidelines for Bitcoin accounting in Q1 2025.
This change is anticipated to immediately boost the company&#8217;s earnings, potentially aligning it with the S&amp;P 500&#8217;s inclusion standards.
By meeting these criteria, MicroStrategy could significantly broaden its investor base. This includes institutional investors and index funds tracking the S&amp;P 500, which could increase demand for the company&#8217;s stock.
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Why It Matters: MicroStrategy stock closed 14.44% lower over the last five sessions at $364.20 on Friday, according to Benzinga Pro data.
For context, Bitcoin has fallen by 9.95% to $93,912.90 over the last five days. Whereas, iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) dropped by 4.32% in the same period.
MicroStrategy now controls nearly 2.1% of the total Bitcoin supply.
Benchmark has assigned a &#8220;Buy&#8221; rating to the company with a $650 price target. This valuation is derived from a sum-of-the-parts analysis, factoring in the potential value of the company&#8217;s Bitcoin holdings in 2026. They anticipate a Bitcoin price of $225,000 by the end of that year.
Despite the challenges with S&amp;P 500 inclusion, the shares of the company will be listed on the Nasdaq 100 on Monday, Dec. 23. This is possible because companies eligible for inclusion are primarily chosen according to their market capitalization ranking on the last trading day of November.
What Are Other Analysts Saying: About 12 <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">analysts tracked by Benzinga</a> have a consensus &#8220;Buy&#8221; rating on the stock with a price target of $449.5 per share.
The three most-recent analyst ratings between Bernstein, TD Cowen, and Barclays imply a 76.82% upside for MSTR.
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IBIT

MicroStrategy Stock Declines Over 14% Amid Heightened Volatility Over S&P 500 Inclusion Concerns: Here's What Is Happening

At 79, Dan Weiss has found an unconventional way to stay active, earn a solid income and connect with people – <a href="https://www.benzinga.com/money/best-websites-to-make-money-online">assembling furniture on TaskRabbit</a>. The retired mortgage manager from Oakdale, Minnesota, earns up to $47 an hour putting together Ikea and other types of furniture, a gig that he says brings in $3,000 to $5,000 a month.
Dan told Business Insider that he retired in 2014 after decades of managing residential mortgage branches. At first, retirement seemed like a well-earned break, but it didn't take long for him to feel the absence of structure in his daily life. "Going from 100 mph to 0 was very abrupt," Dan says. "One can only do so much gardening and reading without feeling unfulfilled."
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After six months of traditional retirement, he sought something to keep himself busy while avoiding dipping too heavily into his savings. Over the years, Dan tried part-time jobs at Costco, customer service roles and <a href="https://www.benzinga.com/news/24/05/38613581/uber-and-lyft-drivers-future-hangs-in-balance-as-massachusetts-supreme-court-deliberates">driving for Uber and Lyft</a> before reading about TaskRabbit in a local newspaper. Intrigued, he signed up and quickly discovered a gig he enjoyed.
Since joining TaskRabbit in 2021, Dan has completed nearly 1,200 tasks and made over $47,000 in 2023 alone. On a typical week, he handles one to three daily tasks four to five days a week, often traveling within 30 minutes of his home.
His clients come from all walks of life and the variety keeps things interesting. Beyond the income, Dan appreciates the social aspect. "I meet people from all walks of life and find their stories interesting. I enjoy this aspect of tasking the most," he told BI.
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<h2 class="wp-block-heading">Retirement Regrets and Realizations</h2>
Like many retirees, Dan has wrestled with the financial and emotional challenges of leaving the workforce. According to Nationwide&#8217;s Protected Retirement Survey, 82% of Americans over 45 <a href="https://www.benzinga.com/general/education/24/12/42499922/americans-regret-retirement-prep-as-advisors-rethink-2025-strategies">regret not taking retirement planning seriously earlier</a>. While he's glad his TaskRabbit income supplements his savings, he's also aware that better planning might have eased some of the pressure.
Dan's advice for retirees? Find something you love to do and stay adaptable. Whether it's assembling furniture, volunteering or pursuing hobbies, the key is maintaining a sense of purpose and structure.
Dan plans to keep working on TaskRabbit as long as his body allows. His earnings have funded trips with his wife, including visits to their favorite destination, Maui. He's also exploring other potential adventures as he stays active in his later years.
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TaskRabbit At 79? A Retired Mortgage Manager Assembles Furniture For $47 An Hour, Pulling In $3,000 To $5,000 A Month

Crypto analyst Anthony Pompliano, founder of Pomp Investments, remains optimistic about Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) despite its recent drop below the $100,000 milestone. 
What Happened: In a recent interview with FOX 5, Pompliano predicted that "2025 will continue to be a great year for Bitcoin."
Pompliano outlined two key factors driving Bitcoin's future growth. "One, you're going to continue to get printing of money both in the United States and globally. And then two is you have a Federal Reserve that is cutting interest rates," he said. 
During the <a href="https://www.youtube.com/watch?v=sjqw8hGkDL8">interview</a>, he shared that the increasing M2 money supply and cheaper capital from lower interest rates are likely to fuel market gains. 
Pompliano also discussed why Bitcoin's growth and market cap expansion have made it more attractive to institutional investors. 
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"When Bitcoin was at $1,000, large capital pools viewed it as too small and risky," he explained. However, Bitcoin's rise to a $2 trillion market cap has changed perceptions. "Now all of a sudden everyone's like, ‘Wait a second, I can put money in it. It's derisked.'"
He noted that as Bitcoin's price climbs, more institutional capital is likely to flow into the asset. "As large pools of capital come in to buy a finite-supply asset, price should continue to go up," Pompliano said, emphasizing Bitcoin's limited supply as a key driver of its long-term value.
Despite its recent volatility, Pompliano's outlook underscores the growing institutional acceptance of Bitcoin and its potential to achieve greater heights as a premier digital asset.
At the time of writing Bitcoin was trading at $95,805.13, down by almost 2 per cent in the last seven days. 
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Crypto Analyst: '2025 Will Continue To Be a Great Year for Bitcoin'

From high fashion to high-rises – developers have cottoned on to the fact that their high-net-worth clientele is a brand-centric crowd, shopping for labels and status symbols as most people shop for groceries. That&#8217;s why, increasingly, luxury residential buildings have leveraged exclusive retail brands to help sell their units. Unsurprisingly, nowhere is this more popular than at the crossroads of the catwalk and condo – <a href="https://www.benzinga.com/content/42467692/dinner-of-the-year-art-week-miami-2024-blended-exceptional-art-exclusive-fashion-and-engaging-philan">Miami</a>.&nbsp;
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<h2 class="wp-block-heading">Dolce &amp; Gabbana</h2>
The Dolce &amp; Gabbana branded 888 Brickell will see a new 90-story, 1,049 ft super tall condo tower – a record for Miami – take to skies, comprising 259 residences and a yet-to-be-announced 5-star hotel. What is the fashion brand&#8217;s contribution to the development besides their coveted name? D&amp;G&#8217;s famous gold and black design style will abound throughout the building. The facade will feature ivory travertine, white stucco and matte black steel beams; at the street level, the building features a necklace of golden beads courtesy of New York architecture practice Studio Sofield. The design team said they were inspired to invoke &#8220;quintessential modernist skyscrapers and Milanese midcentury design and fashion.&#8221;
D&amp;G&#8217;s actual input was that their designers collaborated with Milan-based studio M2Atelier on the interiors for the project. Renderings depict dark, moody public spaces outfitted with metallic highlights and animal-print furniture.
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<h2 class="wp-block-heading">Elle Residences</h2>
Not to be outdone, Elle Residences (as in the women&#8217;s fashion/lifestyle magazine), Miami, at 3618 NE 5th Ave. in Edgewater, is a 180-unit project developed by Urban Network Capital Group and Vertical Developments. It will feature interiors by The One Atelier (a design company with a long pedigree of branded buildings, including those by Fendi and Karl Lagerfeld).&nbsp;
&#8220;This groundbreaking residential project will debut a new legacy for Elle, one of which we are proud to share in the next chapter of this influential brand,&#8221; Fernando de Nuñez y Lugones, CEO of Vertical Developments, said in a statement. &#8220;Our aspiration is not just to build a tower but create an ownership experience that amplifies modernity with the timeless sophistication of Elle&#8217;s nearly 80-year history.&#8221;
Aside from the slew of top-notch amenities and the instantly recognizable name value, buyers willing to shell out high six figures and up will want to know what distinguishes Elle and other name brands from their competition.
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&#8220;This project will represent a groundbreaking concept, offering captivating gateways for owners and residents to experience condo living through a fresh lens and the visionary perspective of Elle,&#8221; <a href="https://robbreport.com/shelter/new-construction/elle-branded-residences-miami-1235628190/">Constance Benqué</a>, CEO of Elle International and Lagardère News, said.
This may be a vague summation, but the fact is that a famous name brand is the magical pixie dust that can make a consumer choose it over the competition. It leverages the brand&#8217;s history, credibility and lifestyle and transfers it to the building. <a href="https://www.benzinga.com/tech/24/11/42033401/porsche-recalls-nearly-16k-taycan-evs-in-china-citing-fire-risk">Porsche</a>, Aston Martin, <a href="https://www.benzinga.com/24/05/38819007/mercedes-worker-advocates-for-better-work-life-balance-amid-unionization-efforts-in-alabama-plant-so">Mercedes</a>, Bentley, Pagani, Armani and Fendi are well-known brands attached to Miami condos.
<h2 class="wp-block-heading">A City Of Brands</h2>
&#8220;It&#8217;s nothing short of wild how many branded developments there are,&#8221; Peter Bazeli, a real estate development advisor and principal at consultancy Weitzman, told Curbed. &#8220;Now it&#8217;s expected,&#8221; Bazeli said. &#8220;The traditional residential model of just building a really nice building is not enough anymore. Each new development has to have a brand, has to conjure up the idea of what the lifestyle can be.&#8221;
But why Miami and not New York or LA? In those cities, the location itself is the brand. In Miami, where city locations are not well known, branding makes good business sense, especially to International buyers, even if the brand&#8217;s involvement beyond lending its name is questionable.&nbsp;
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