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HELLA Gmbh & Co (OTC:HLKHF) Stock, Option Chain

HELLA GmbH & Co KGaA is a manufacturer of lighting and electronic components and systems for the automotive industry. The company also produces complete vehicle modules, air-conditioning systems, and vehicle electrical systems in its joint-venture companies, as well as products for specialist vehicles. Further, Hella operates a trade organisation for automotive parts, accessories, diagnosis, and services in Europe. The company is controlled through a pooled family majority shareholding in the group. The company has three reportable segments which are Lighting, Electronics and Lifecycle Solutions. The company generates majority of the revenue from Lighting segment.

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HELLA KGAA HUECK ORD by Hella Gmbh & Co Kgaa

HELLA GmbH & Co KGaA

The Biden administration has made another major move to tackle the student debt crisis, approving $4.28 billion in <a href="https://www.ed.gov/about/news/press-release/biden-harris-administration-approves-additional-428-billion-student-debt-relief-nearly-55000-public-service-workers-0" target="_blank" rel="noreferrer noopener">loan forgiveness</a> for nearly <a href="https://www.benzinga.com/topic/student-debt" target="_blank" rel="noreferrer noopener">55,000 public service workers</a>.
This latest round of relief brings the total student loan forgiveness to a staggering $180 billion, benefiting nearly five million Americans.
The move is part of the administration&#8217;s broader efforts to fix the broken Public Service Loan Forgiveness (PSLF) program and provide much-needed relief to teachers, nurses, firefighters, and other public servants who dedicate their lives to the community.
In a statement celebrating the success, Education Secretary Miguel Cardona emphasized that the administration&#8217;s commitment to public service workers has resulted in life-changing debt relief.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/legal/24/12/42635199/financial-crime-weekly-becton-dickinson-and-co-pays-175-million-penalty-express-fails-to-disclose-ceos-full-compensation" rel="noreferrer noopener"> Financial Crime Weekly: Becton, Dickinson And Co. Pays $175 Million Penalty, Express Fails To Disclose CEO&#8217;s Full Compensation</a>
&#8220;Four years ago, the Biden-Harris Administration made a pledge to America's teachers, service members, nurses, first responders, and other public servants that we would fix the broken Public Service Loan Forgiveness Program, and I'm proud to say that we delivered,&#8221; Cardona said.
The $4.28 billion announced on Friday is part of the ongoing transformation of the PSLF program, which has now forgiven $78 billion in loans for over a million borrowers under this administration alone.
The PSLF program, which offers forgiveness for borrowers who make 120 qualifying monthly payments while working in public service, has been significantly overhauled by the Biden-Harris administration.
The recent changes include improvements that make it easier for borrowers to qualify for forgiveness and track their progress toward the 120-payment requirement.
The department also made regulatory changes to expand eligibility, helping more public service workers access relief.
In addition to the PSLF fixes, the administration has implemented several other measures to alleviate student loan debt.
These include approving $56.5 billion for over 1.4 million borrowers under Income-Driven Repayment plans, which offer more affordable payment terms based on income. The government also provided $28.7 billion in loan forgiveness for borrowers defrauded by their schools or who attended institutions that closed unexpectedly.
Furthermore, the Biden administration has approved $16.2 billion in relief for nearly 572,000 borrowers with total and permanent disabilities, ensuring that they are not burdened by student loans they are unable to repay. These measures are part of a broader strategy to make higher education more accessible and reduce the financial barriers many face after graduation.
In addition to these student debt relief efforts, the administration also increased the maximum Pell Grant by $900, marking the largest increase in a decade.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42564443/santa-came-early-with-rate-cut-but-federal-reserve-brings-coal-next-year-experts-weigh-in-on-rate-cut-feds-2025-projections" target="_blank" rel="noreferrer noopener">‘Santa Came Early' But Fed Brings ‘Coal Next Year': Experts Weigh In On Interest Rate Cut, 2025 Projections</a></li>
</ul>

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Biden Student Loan Forgiveness Tops $180 Billion With Latest Relief

A car-ramming attack at a Christmas market in Magdeburg, Germany, on Friday night has left five people dead, including a nine-year-old child, with more than 200 injured <a href="https://www.benzinga.com/news" target="_blank" rel="noreferrer noopener">and dozens critically wounded</a>.
The incident occurred when a car sped 1,200 feet into a crowd of shoppers in a narrow alley, NBC News <a href="https://www.nbcnews.com/news/world/car-ramming-christmas-market-germany-rcna185066" target="_blank" rel="noreferrer noopener">reports</a>.
German Chancellor Olaf Scholz described the event as &#8220;terrible&#8221; and expressed concern over the condition of nearly 40 critically injured individuals.
The suspect, a 50-year-old Saudi doctor who has lived in Germany since 2006, was apprehended by authorities.
Initially employed as a psychiatrist at a psychiatric hospital in Bernburg, the man had been off-duty since October due to illness and vacation.
While officials have not disclosed a clear motive, Interior Minister Nancy Faeser confirmed that the suspect had &#8220;clearly Islamophobic&#8221; views.
Also Read&#8221; <a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42635025/benzinga-bulls-and-bears-tesla-broadcom-unitedhealth-bitcoin-and-dogecoin-bull-had-to-sell-after-price-plunge" rel="noreferrer noopener">Benzinga Bulls And &#8220;ears: Tesla, Broadcom, UnitedHealth, Bitcoin And Dogecoin Bull &#8216;Had To Sell&#8217; After Price Plunge</a>
The investigation is ongoing, with authorities focusing on understanding the attacker&#8217;s motivations, NBC News adds.
The attack has sparked renewed debate in Germany, especially ahead of the February snap elections.
The anti-immigration Alternative for Germany (AfD) party, which has seen significant gains, is expected to play a key role in shaping the upcoming government.
This incident has added fuel to discussions surrounding uncontrolled immigration, with the AfD likely to use it as a platform in the elections.
A memorial service will be held in Magdeburg&#8217;s cathedral, and a memorial has been set up near St. John&#8217;s Church to honor the victims.
The Saudi government and the U.S. State Department have expressed solidarity with Germany, condemning the attack and sending condolences to the victims&#8217; families, the report adds.
Read Next:
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<li><a href="https://www.benzinga.com/personal-finance/24/12/42628158/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it" target="_blank" rel="noreferrer noopener">Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He&#8217;d Donate $6 Billion – &#8216;I Will Sell Tesla Stock Right Now And Do It&#8217;</a></li>
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Image: Wikiemedia Commons

Car Rams Into Christmas Market in Germany, Killing Five and Injuring More Than 200

The debt ceiling has become a central point of contention in Washington this week, disrupting year-end <a href="https://www.benzinga.com/news/24/11/42154761/majority-of-americans-approve-of-trumps-second-term-agenda">government funding talks</a> that were resolved early Saturday.
What Happened: President-elect Donald Trump has called for either raising or completely eliminating the borrowing limit, a move that could resolve the issue before he assumes office and allow him to pursue his agenda without future debt-ceiling battles.
"Congress must get rid of, or extend out to, perhaps, 2029, the ridiculous Debt Ceiling," Trump wrote in a Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/113683687655180611">post</a> on Friday. "Without this, we should never make a deal. Remember, the pressure is on whoever is President."
This differs from Trump&#8217;s past view. In January 2013, he wrote, "I cannot believe the Republicans are extending the debt ceiling — I am a Republican and I am embarrassed!"
According to a report <a href="https://www.businessinsider.com/trump-raise-eliminate-debt-ceiling-default-economic-consequences-interest-rates-2024-12">by</a> Business Insider, the debt ceiling, which caps how much the federal government can borrow, has long been a contentious political tool. Failing to raise it risks a government default, jeopardizing programs like Social Security, Medicaid and housing assistance.
Also Read: <a href="https://www.benzinga.com/news/24/12/42257531/heres-how-ray-dalio-thinks-trumps-second-term-could-reshape-the-us-and-the-world">Here&#8217;s How Ray Dalio Thinks Trump&#8217;s Second Term Could Reshape the US and the World</a>
A default could also spike interest rates, as the U.S. might lose its reputation as a creditworthy borrower. "It would mean higher rates on mortgages and credit cards, potentially leading to a deep recession," Len Burman of the Urban Institute told the outlet.
Trump's position aligns with some Democrats who advocate abolishing the debt ceiling altogether. Sen. Elizabeth Warren (D-Mass.) recently voiced agreement, arguing that the ceiling is frequently weaponized to force spending cuts.
During previous standoffs, unconventional solutions like invoking the 14th Amendment or minting a $1 trillion platinum coin were proposed to sidestep the limit. Rep. Jamie Raskin (D-Md.) suggested that such options remain viable if Congress fails to act.
Why It Matters: Despite Trump's push, many Republicans oppose eliminating the debt ceiling, citing its role as a check on federal borrowing. Trump has warned that GOP members opposing his stance may face primary challenges. 
The country is projected to hit the debt limit early next year, though the Treasury Department could delay default until late spring through accounting measures.
Read Next
<a href="https://www.benzinga.com/24/12/42624528/government-shutdown-stocks-wobble-paychecks-delayed-holiday-travel-could-change-heres-what-you-need-to-know">Government Shutdown Threat: Holiday Travel, Paychecks Could Face Delays If No Deal Reached</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Why Trump Wants Debt Ceiling Killed Before He Takes Office

Perennial TV fave Ryan Seacrest is in contract to buy an expansive renovated $36 million estate, according to a report in the Wall Street Journal.&nbsp;
The veteran presenter, known for presenting "American Idol," "Wheel Of Fortune" and "Live With Kelly and Ryan," routinely shuttles between New York and LA. He is buying his new home from fashion mogul Serge Azria, who paid $16.455 million for the Bel-Air property in 2020. Azria undertook a three-year renovation of the home before listing the roughly 11,000-square-foot Bel-Air property for $48 million in June.
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<li>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/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a></li>
</ul>
<h2 class="wp-block-heading">A Relaxing Mediterranean-Styled Escape</h2>
The contemporary Spanish-style home, built in 1928, features simple wood and off-white finishes and furnishings, arched inset porches and light wood beams beneath vaulted ceilings. It has a showbiz pedigree, previously owned by actress Diane Keaton twenty years ago.
&nbsp;Per Azria's intent, the home was remade with a Mediterranean feel, adding four olive trees in the garden to complement the minimalist, soothing color palette. The home also features a separate pool house with a wood-burning fireplace, a 5-6 car garage, a steam room, a sauna, a terrace and two kitchens.
See Also: This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
<h2 class="wp-block-heading">Real Estate Moves</h2>
Seacrest – with a net worth of around $500 million – has been as busy buying and selling California real estate as he has presenting. He listed a Napa Valley estate for $22 million in July and sold a Beverly Hills home for $51 million to tech billionaire Brian Long in 2022. Seacrest had purchased the property from <a href="https://www.benzinga.com/markets/24/10/41148149/inside-ellen-degeneress-real-estate-side-hustle-as-she-reflects-on-life-after-comedy">Ellen DeGeneres</a> and Portia DeRossi for $36.5 million in 2012.
Seacrest also sold his New York home – a five-bedroom penthouse in the West Village – to Fanatics billionaire Michael Rubin for $43 million in the summer of 2023, as reported by the Daily Mail.&nbsp;
Trending: During market downturns, investors are learning that unlike equities, these<a href="https://www.benzinga.com/money/connect-invest-real-estate-notes"> high-yield real estate notes that pay 7.5% &#8211; 9% are protected by resilient assets, buffering against losses.</a>
<h2 class="wp-block-heading">A Business Empire</h2>
Though Seacrest is well known as a jovial on-screen presence, he is at the helm of a business empire offscreen. These include:
<ul>
<li>Ryan Seacrest Productions: Seacrest's production company is behind hit TV shows, including Keeping Up With the<a href="https://www.benzinga.com/topic/kim-kardashian"> Kardashians</a>, E! Live from the Red Carpet, Shahs of Sunset, I Love Kellie Pickler, Shades of Blue and Insatiable.</li>
<li>Ryan Seacrest Distinction: A menswear clothing line sold exclusively at Macy's.</li>
<li>Polished: A skincare line discontinued in 2022.</li>
<li>Casa Dragones tequila: Seacrest is the face of Casa Dragones tequila.</li>
<li>iHeartMedia: Seacrest has been an ongoing presence on iHeart Radio and recently inked a new deal that will see him remain the morning voice of radio in Los Angeles until the end of 2027.</li>
</ul>
He will also continue to host iHeart Radio events, including the two-day iHeartRadio Music Festival and LA's iHeartRadio Jingle Ball holiday concert.
In addition to hosting iHeart Radio-affiliated shows, Seacrest is the annual host of Dick Clark's New Year's Rockin' Eve with Ryan Seacrest, which he has hosted for the last 18 years, earning $1 million for the night.&nbsp;
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<li>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></li>
</ul>

Real Estate

Ryan Seacrest Is Buying An LA Mansion for $36 Million. Here's A Look At His Splashy Property Portfolio

Billy Joel's No Longer In A New York State Of Mind. Music Legend Lists Long Island Manse And Settles In Florida
Billy Joel&#8217;s movin&#8217; out – or rather, has moved out. The music icon, whose 1976 hit New York State Of Mind cemented his association with his home state, has listed his luxury waterfront estate in Centre Island, New York, for $49.9 million.
The Piano Man recently completed a five-year renovation on the sprawling 26-acre property, which contains four separate houses – the Main House, Beach House, guesthouse and Gate House – and sits on over 2,000 feet of private beachfront overlooking the Long Island Sound.
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<li>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></li>
</ul>
<h2 class="wp-block-heading">A Long Island Landmark</h2>
Known as Middle Sea, Joel told The New York Times he first saw the property as a teen while dredging oysters to earn extra money. He purchased the property in 2002, three years after Forbes estimated his net worth at around $52 million. It is now estimated to be around $250 million. Located between the upscale <a href="https://www.benzinga.com/content/42252309/carolyn-miles-scents-4-my-soul-ceo-to-be-honored-at-this-year-2024-kwanza-celebration">Long Island</a> neighborhoods of <a href="https://www.benzinga.com/markets/24/09/40943847/piano-man-hits-a-sour-note-billy-joels-mansion-takes-a-15-million-haircut">Oyster Bay</a> and Cold Spring Harbor, Joel&#8217;s moniker for the property stems from its geographic location. It is also an homage to the Middle &#8220;C&#8221; on a piano.
"If it's not for me being able to take piano lessons, I probably would never have been able to afford a high-flying property like this. So, I named it after the first note I learned on the piano, which was C," Joel told The New York Times.
Joel has been active in the Florida real estate market for years. The listing of Middle Sea comes weeks after he sold another of his homes – a beachfront home in Manalapan, South Florida, which was also coincidentally listed for $49.9 million. According to<a href="https://www.mansionglobal.com/articles/billy-joel-finally-finds-a-buyer-for-his-south-florida-spread-a12ad195"> </a>Mansion Global, the home was first listed in 2018 for $31.9 million after Joel purchased it in 2015 for $22.1 million.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
<h2 class="wp-block-heading">A Flurry of Florida Purchases</h2>
Despite singing the song "You're My Home," Joel might have a problem saying the same thing in real life. According to the Palm Beach Post, he recently bought two neighboring properties in The Sanctuary in Boca Raton – a private 100-home community. According to deed information, one of the homes was purchased for $29 million in the gated and guarded community off Spanish River Boulevard. The 15,000-square-foot residence sits on a corner lot with over an acre of land and 560 feet of waterfrontage on the Intracoastal Waterway. Joel also purchased a townhouse in Palm Beach and an equestrian property in Wellington.
<h2 class="wp-block-heading">A Kinder Climate&nbsp;</h2>
Joel, who had both hips replaced in 2010, recently lost 50 lbs after suffering back surgery pain. Moving to warmer weather could help him avoid frigid New York winters as he ages.
"I'm just gonna spend a little more time in Florida like old Jewish guys from Long Island do," he joked earlier this year when on stage at UBS Arena in New York. He added that he also has another home on Long Island that he plans to keep.
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</ul>
Billy Joel&#8217;s movin&#8217; out – or rather, has moved out. The music icon, whose 1976 hit New York State Of Mind cemented his association with his home state, has listed his luxury waterfront estate in Centre Island, New York, for $49.9 million.
The Piano Man recently completed a five-year renovation on the sprawling 26-acre property, which contains four separate houses – the Main House, Beach House, guesthouse and Gate House – and sits on over 2,000 feet of private beachfront overlooking the Long Island Sound.
Don't Miss:
<ul>
<li>Unlock the hidden potential of commercial real estate —<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a></li>
<li>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></li>
</ul>
<h2 class="wp-block-heading">A Long Island Landmark</h2>
Known as Middle Sea, Joel told The New York Times he first saw the property as a teen while dredging oysters to earn extra money. He purchased the property in 2002, three years after Forbes estimated his net worth at around $52 million. It is now estimated to be around $250 million. Located between the upscale <a href="https://www.benzinga.com/content/42252309/carolyn-miles-scents-4-my-soul-ceo-to-be-honored-at-this-year-2024-kwanza-celebration">Long Island</a> neighborhoods of <a href="https://www.benzinga.com/markets/24/09/40943847/piano-man-hits-a-sour-note-billy-joels-mansion-takes-a-15-million-haircut">Oyster Bay</a> and Cold Spring Harbor, Joel&#8217;s moniker for the property stems from its geographic location. It is also an homage to the Middle &#8220;C&#8221; on a piano.
"If it's not for me being able to take piano lessons, I probably would never have been able to afford a high-flying property like this. So, I named it after the first note I learned on the piano, which was C," Joel told The New York Times.
Joel has been active in the Florida real estate market for years. The listing of Middle Sea comes weeks after he sold another of his homes – a beachfront home in Manalapan, South Florida, which was also coincidentally listed for $49.9 million. According to<a href="https://www.mansionglobal.com/articles/billy-joel-finally-finds-a-buyer-for-his-south-florida-spread-a12ad195"> </a>Mansion Global, the home was first listed in 2018 for $31.9 million after Joel purchased it in 2015 for $22.1 million.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
<h2 class="wp-block-heading">A Flurry of Florida Purchases</h2>
Despite singing the song "You're My Home," Joel might have a problem saying the same thing in real life. According to the Palm Beach Post, he recently bought two neighboring properties in The Sanctuary in Boca Raton – a private 100-home community. According to deed information, one of the homes was purchased for $29 million in the gated and guarded community off Spanish River Boulevard. The 15,000-square-foot residence sits on a corner lot with over an acre of land and 560 feet of waterfrontage on the Intracoastal Waterway. Joel also purchased a townhouse in Palm Beach and an equestrian property in Wellington.
<h2 class="wp-block-heading">A Kinder Climate&nbsp;</h2>
Joel, who had both hips replaced in 2010, recently lost 50 lbs after suffering back surgery pain. Moving to warmer weather could help him avoid frigid New York winters as he ages.
"I'm just gonna spend a little more time in Florida like old Jewish guys from Long Island do," he joked earlier this year when on stage at UBS Arena in New York. He added that he also has another home on Long Island that he plans to keep.
Read Next:
<ul>
<li>Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a></li>
<li>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></li>
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Billy Joel's No Longer In A New York State Of Mind. Music Legend Lists Long Island Manse And Settles In Florida

When you think of Dave Ramsey, you think of financial freedom, debt-free living and his famous mantra: "Debt is dumb, cash is king." But what happens when the <a href="https://www.benzinga.com/personal-finance/24/12/42380263/elon-musk-asks-if-irs-funding-should-be-deleted-more-than-60-of-respondents-said-yes">dreaded IRS</a> comes knocking with a hefty tax bill you didn't prepare for? Surprisingly, even Ramsey says borrowing money might be the lesser of two evils in this specific case.
<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">Debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice.
&mdash; Dave Ramsey (@DaveRamsey) <a href="https://twitter.com/DaveRamsey/status/1507359648952823813?ref_src=twsrc%5Etfw">March 25, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Don't Miss:
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<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>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>
</ul>
On an <a href="https://www.youtube.com/watch?v=3ew__d2xzPo">episode</a> of the EntreLeadership Podcast, Ramsey tackled a real-world scenario from a business owner, Ross, whose electrical contracting business faced an unexpected $200,000 tax bill. Ross admitted he had focused all his extra cash on paying off other debts, leaving nothing aside for taxes. The accountant's suggestion? <a href="https://www.benzinga.com/money/how-to-get-a-bank-loan">Borrow the money from the bank</a> to settle the tax debt. While this might sound like heresy to Ramsey's usual no-debt philosophy, he agreed.
<h2 class="wp-block-heading">Why Borrowing Beats Owing the IRS</h2>
Ramsey didn't whitewash the reality: if you owe the IRS, you're in trouble. "You'd rather owe the bank on a line of credit than you would the KGB," he said, pointing out that their penalties and interest rates are far harsher than any bank loan. The priority, he emphasized, is to get the IRS out of your life as quickly as possible.
Borrowing from a bank might sting, but it's a strategic move. Ramsey explained that most lines of credit carry lower interest rates – often around 8% or so – which are far more manageable than the fines and stress that come with unpaid taxes. You do not want the IRS breathing down your throat, he warned.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
<h2 class="wp-block-heading">The Real Problem: Poor Planning</h2>
While agreeing with the borrowing strategy, Ramsey didn't let Ross off the hook for how he ended up in this mess. "You're running this like it's a $1 million business" when it's a $10 million business, he said bluntly. Ramsey stressed the importance of monthly tax planning, robust accounting systems and professional oversight for a business of Ross&#8217; size. He suggested hiring an in-house controller or CFO and upgrading from entry-level software like <a href="https://www.benzinga.com/news/24/08/40373775/intuit-faces-growing-risks-in-turbotax-and-quickbooks-morgan-stanley-analyst">QuickBooks</a> to more sophisticated tools like NetSuite.
"You can't outearn stupidity," Ramsey said, telling Ross that he needs systems that match the size and complexity of his business.
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">What This Means For You</h2>
Ramsey&#8217;s advice is clear for anyone facing an unexpected tax bill: handle the IRS immediately. If you don't have the cash, a bank loan or line of credit is your best option. But the real lesson here is about preparation. <a href="https://www.benzinga.com/personal-finance/24/05/39010733/3-financial-fears-and-the-tips-to-overcome-them">Regularly set aside money</a> for taxes, especially if you're experiencing rapid growth or success in your business. Work with a qualified accountant who understands your needs and can help you stay ahead of tax liabilities.
If you're growing fast, it's easy to overlook the administrative side of things. However, as Ramsey pointed out, neglecting your financial systems can result in disaster. "Congratulations on killing it," he told Ross, "but now your lack of systems and sophistication is going to cause you to lose it."
Read Next:
<ul>
<li>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>.</li>
<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>
</ul>

Personal Finance

Facing A Tax Bill? Dave Ramsey Breaks His 'No-Debt' Policy, Says Borrowing From The Bank Beats Owing The IRS, Which He Calls 'The KGB'

Becton, Dickinson And Co. Agrees To Pay $175 Million Civil Penalty
The Securities and Exchange Commission on Monday announced it had <a href="https://www.sec.gov/newsroom/press-releases/2024-201">settled charges</a> against Becton, Dickinson and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>), known as BD, for repeatedly misleading investors about risks associated with its continued sales of its Alaris infusion pump and for overstating its income by failing to record the costs of fixing multiple software flaws with the pump. BD agreed to pay a $175 million civil penalty.
Read More: <a href="https://www.benzinga.com/general/social-media/24/12/42598651/mystery-drone-sightings-all-over-the-country-trump-says-what-to-know-about-investigations-lawmakers-reactions">&#8216;Mystery Drone&#8217; Sightings Spark Investigations, Politicians Respond: &#8216;Shoot Them Down,&#8217; Trump Says</a>
"BD repeatedly painted a misleading picture of its Alaris infusion pump for investors and then doubled down by keeping them in the dark when the device's issues came to a head with the FDA in late 2019," said Sanjay Wadhwa, Acting Director of the SEC's Division of Enforcement.&nbsp;
"Public companies have a fundamental duty to accurately disclose material business risks and should expect to be held accountable when they fall short in that regard," Wadhwa added.&nbsp;
The SEC's order finds that BD violated antifraud, reporting, internal accounting controls, books and records and disclosure controls provisions of the federal securities laws. BD agreed to cease and desist from further violations of these provisions, to retain an independent compliance consultant to review and make recommendations concerning its disclosure controls and procedures and to the $175 million civil penalty, without admitting or denying the SEC's findings.&nbsp;
Express Fails To Disclose CEO's Full Executive Compensation&nbsp;
The SEC announced on Tuesday that it has settled charges against fashion retailer Express, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EXPRQ#OTC">EXPRQ</a>) for failing to disclose executive compensation it paid to its now former CEO with Express agreeing to a cease-and-desist order, without admitting or denying the SEC's findings.
According to the SEC's order, Express failed to disclose $979,269 worth of perks and personal benefits provided to its CEO for fiscal years 2019, 2020, and 2021. As a result, Express understated the "All Other Compensation" portion of its CEO's compensation by an average of 94% over the three years. The company filed for Chapter 11 bankruptcy earlier this year.&nbsp;
"Public companies have a duty to comply with their disclosure obligations regarding executive compensation, including perks and personal benefits, so that investors can make educated investment decisions," said Sanjay Wadhwa, Acting Director of the SEC's Division of Enforcement.&nbsp;
"Here, although Express fell short in carrying out its obligation, the Commission declined to impose a civil penalty based, in part, on the company's self-report, cooperation with the staff's investigation, and remedial efforts," Wadhwa added. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42564443/santa-came-early-with-rate-cut-but-federal-reserve-brings-coal-next-year-experts-weigh-in-on-rate-cut-feds-2025-projections">&#8216;Santa Came Early&#8217; But Fed Brings &#8216;Coal Next Year&#8217;: Experts Weigh In On Interest Rate Cut, 2025 Projections</a></li>
</ul>
Image: Yildiray Yücel Kamanmaz from Pixabay

Legal

EXPRQ

Financial Crime Weekly: Becton, Dickinson And Co. Pays $175 Million Penalty, Express Fails To Disclose CEO's Full Compensation

Facing a looming government shutdown, the Senate moved swiftly on Saturday to pass a bipartisan bill that temporarily funds federal operations and provides disaster aid. 
What Happened: The House, led by Speaker Mike Johnson, overwhelmingly approved the legislation, 366-34, before the Senate passed it late Friday night with an 85-11 vote. The White House confirmed shutdown preparations ceased at midnight, with President Joe Biden expected to sign the bill into law on Saturday.
The measure notably excludes President-elect Donald Trump's demand for a debt ceiling increase, pushing that contentious issue into the new year, <a href="https://apnews.com/article/trump-government-shutdown-deadline-speaker-johnson-budget-da117337aa0c0adab34a5626bb5816af">reports</a> The Associated Press.
Johnson described the outcome as "a good result for the country" and noted that Trump, while initially critical of the deal, expressed satisfaction with the final outcome. 
However, Trump had earlier warned in a social media post that without a debt ceiling provision, "let the closures start now."
The legislation, a drastically slimmed-down 118-page package, funds federal operations through March 14, allocates $100 billion for disaster relief, and includes $10 billion for agricultural aid. 
<a href="https://www.benzinga.com/markets/24/12/42497093/stock-market-predictions-for-2025-a-mixed-bag-of-expectations">Also Read: Stock Market Predictions for 2025: A Mixed Bag Of Expectations</a>
Absent from the final version is Trump's demand for a long-term debt ceiling increase, which GOP leaders promised to address next year as part of broader fiscal negotiations. Republicans also agreed to pursue $2.5 trillion in spending cuts over a decade.
While the bill garnered bipartisan support, it exposed fractures within the GOP. Many conservative Republicans voted against the measure, preferring deeper spending cuts. 
Meanwhile, House Democrats provided significant support, with Minority Leader Hakeem Jeffries (D-N.Y.) crediting his caucus for preventing a shutdown and protecting working-class Americans.
However, Democratic concerns over the influence of billionaire Elon Musk on the legislative process sparked debate. "Who is in charge?" asked Rep. Rosa DeLauro (D-Conn.), suggesting Musk was exerting undue sway over Trump's allies, reports the outlet.
Why It Matters: Trump, alongside Musk, who heads the newly established Department of Government Efficiency, is pushing an aggressive agenda to cut federal budgets and reshape government operations. 
Musk has even been floated as a potential speaker by some Trump allies. Meanwhile, Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell warned of the economic and political consequences of another shutdown.
As Congress grapples with balancing Trump's demands and bipartisan governance, Johnson's ability to lead will face significant scrutiny in the months ahead.
Read Next
<a href="https://www.benzinga.com/markets/24/12/42571835/trumps-rejection-of-bipartisan-deal-fuels-government-shutdown-fears-how-markets-historically-react-to-political-turmoil">Trump&#8217;s Rejection Of Bipartisan Deal Fuels Government Shutdown Fears: How Markets Historically React To Political Turmoil</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Senate Avoids Shutdown With Last-Minute Deal Amid Trump's Debt Ceiling Demands

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
Major averages jumped on Friday but still logged weekly losses, with the Dow down 2.3%, the S&amp;P 500 falling 2%, and the Nasdaq losing 1.8%. 
The Federal Reserve&#8217;s widely anticipated 25-basis-point rate cut on Wednesday was overshadowed by its revised 2025 inflation forecasts and Jerome Powell&#8216;s cautious stance, dampening hopes for deeper cuts next year. Powell emphasized a "new phase" of monetary policy after a 100-basis-point reduction in 2024, signaling <a href="https://www.benzinga.com/news/large-cap/24/12/42629219/fed-cuts-interest-rates-but-powell-spoils-santa-claus-rally-dollar-surges-to-over-2-year-high-bitcoin-sinks-below-100000-this-week-in-the-market">only gradual easing in 2025</a>.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which had reached a record $108,388 before the Fed meeting, fell below $100,000 as markets absorbed the news.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/tech/24/12/42525257/analyst-hikes-teslas-price-target-to-515-musk-expresses-hope-for-stock-to-touch-69042">Elon Musk Hopes TSLA Stock Will Reach $690 As Analysts Raise Price Target Despite Technical Indicators Flashing Warning Signals</a>,&#8221; by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, reports Elon Musk's optimism about Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reaching $690, as analysts upgraded the stock with $515 price targets, citing potential benefits from Musk's alignment with Donald Trump's pro-autonomous vehicle policies.
&#8220;<a href="https://www.benzinga.com/24/12/42602503/dave-portnoy-says-he-owns-15-million-bitcoin-13-million-xrp-bet-it-and-set-it-not-trading">Dave Portnoy Says He Owns $1.5 Million Bitcoin, $1.3 Million XRP: &#8216;Bet It And Set It, Not Trading&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a> , reveals that Dave Portnoy, founder of Barstool Sports, holds $1.5 million in Bitcoin and $1.3 million in XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), emphasizing a long-term investment strategy rather than active trading, following insights from a recent conversation with Michael Saylor.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42516826/nvidia-and-5-other-stocks-are-analysts-top-semiconductor-picks-for-2025-sees-2-ai-trends">Nvidia And 5 Other Stocks Are Analyst&#8217;s Top Semiconductor Picks For 2025, Sees 2 AI Trends</a>,&#8221; by <a href="https://www.benzinga.com/author/hayden-buckfire">Hayden Buckfire</a>, highlights a Bank of America analyst naming NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) as top AI-driven semiconductor picks for 2025, alongside Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), and Cadence Design Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>).
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/tech/24/12/42547442/microsof-scoops-up-485000-nvidia-ai-chips-twice-as-many-as-its-closest-rival-meta-report">Microsoft Scoops Up 485,000 Nvidia AI Chips, Twice As Many As Its Closest Rival Meta: Report</a>
<a href="https://www.benzinga.com/trading-ideas/24/12/42599673/amazon-has-20000-rivian-electric-delivery-vans-in-fleet-heres-what-could-be-next-for-both-companies">Amazon Has 20,000 Rivian Electric Delivery Vans In Fleet: Here&#8217;s What Could Be Next For Both Companies</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/24/12/42535298/joby-clears-faa-tail-test-stock-flies-higher">Joby Clears FAA Tail Test, Stock Flies Higher</a>
The Bears
&#8220;<a href="https://www.benzinga.com/markets/equities/24/12/42522048/jim-cramer-warns-nvidias-vicious-and-fast-reversal-is-coming-amid-174-surge-this-year-and-china-antitrust-probe">Jim Cramer Warns Nvidia&#8217;s &#8216;Vicious&#8217; And &#8216;Fast&#8217; Reversal Is Coming Amid 174% Surge This Year And China Antitrust Probe</a>,&#8221; by <a href="https://www.benzinga.com/author/kaustubh-bagalkote">Kaustubh Bagalkote</a>, features Jim Cramer's caution about NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) facing a sharp correction after its 174% YTD gain, amid heightened regulatory scrutiny from China over its Mellanox Technologies acquisition.
&#8220;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42568740/dogecoin-bull-says-he-had-to-sell-as-meme-king-plunges-to-5-week-low-but-derivative-traders-remain-bullish">Dogecoin Bull Says He &#8216;Had To Sell&#8217; As Meme King Plunges To 5-Week Low But Derivative Traders Remain Bullish</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reports on Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) dropping amid Federal Reserve concerns, with early adopter Glauber Contessoto selling some holdings.
&#8220;<a href="https://www.benzinga.com/24/12/42517567/cvs-cigna-unitedhealth-shares-slide-as-trump-targets-drug-middleman">CVS, Cigna, UnitedHealth Shares Slide As Trump Targets Drug &#8216;Middleman&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports that shares of CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), and UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) dropped after Trump vowed to eliminate Pharmacy Benefit Managers, citing their role in inflating drug prices and contributing to industry inefficiencies.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/news/global/24/12/42559347/trump-administration-could-ban-amazons-top-selling-routers-linked-to-chinese-cyberattacks-report">Trump Administration Could Ban Amazon&#8217;s Top-Selling Routers Linked To Chinese Cyberattacks: Report</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42529095/bitcoin-crash-could-trigger-stock-market-decline-in-2025-warns-expert-im-very-worried-that-people-overextended-themselves">Bitcoin Crash Could Trigger Stock Market Decline In 2025, Warns Expert: &#8216;I&#8217;m Very Worried That People Overextended Themselves&#8217;</a>
<a href="https://www.benzinga.com/trading-ideas/24/12/42536470/costco-warns-that-tariffs-raise-prices-trump-team-says-trade-policies-will-make-life-affordable">Costco Warns That Tariffs Raise Prices, Trump Team Says Trade Policies Will &#8216;Make Life Affordable&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.

Long Ideas

Short Ideas

Commodities

$BTC

$DOGE

$XRP

AVGO

CDNS

LRCX

MRVL

NVDA

TSLA

Benzinga Bulls And Bears: Tesla, Broadcom, UnitedHealth, Bitcoin And Dogecoin Bull 'Had To Sell' After Price Plunge

The ability for college athletes to be paid for their name, image and likeness in a blockbuster 2021 NCAA agreement has changed NCAA Football forever and will see one player get paid in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in 2025, following other professional<a href="https://www.benzinga.com/general/sports/24/11/41918833/nfl-player-mocked-for-taking-salary-in-bitcoin-russell-okung-may-have-the-last-laugh-as-btc-soars"> athletes into cryptocurrency</a>.
What Happened: Since the approval of NIL deals, top <a href="https://www.benzinga.com/topic/ncaa-football">NCAA Football players</a> have been able to earn thousands and millions of dollars on deals.
USC recruit Matai Tagoa'i announced he will be paid in Bitcoin for a portion of his NIL payments starting next year, as reported by On3.
The deal comes through a partnership with Strike, a Bitcoin payments app. USC NIL collective House of Victory helped facilitate the deal.
"This is a game-changer for me. By taking part of my NIL earnings in Bitcoin, I'm setting myself up for long-term financial growth. I'm grateful to Strike, House of Victory and 3Point0 Labs for helping me take this step," Tagoa'i said.
With the deal, Tagoa'i is believed to be the first college athlete to get paid NIL payments in Bitcoin.
"I'm proud to be part of this innovative collaboration that's redefining the future of college athletics and finance and hope to set an example for other young athletes."
Strike founder Jack Mallers, who has helped with other <a href="https://www.benzinga.com/markets/cryptocurrency/21/07/21984141/nfls-saquon-barkley-to-take-100-of-endorsement-money-in-bitcoin">Bitcoin deals for athletes</a>, took to social media to share his excitement for the deal.
"Bitcoin is more than a new technology. Bitcoin is a cultural phenomenon. An idea and a movement that's time has come. Excited to work with @mataitagoai and more athletes around the world that want to keep the wealth they earn and inspire new generations to sue better money," Mallers tweeted.
A four-star recruit and top-100 recruit nationwide, the linebacker is expected to be a key to USC Football next season. Tagoa'i picked USC over other top schools he was considering including Oklahoma, Texas, Texas A&amp;M and Washington.
USC finished with a 6-6 record in the 2024 NCAA Football season, including a 4-5 record in the Big Ten Conference, its first in the conference.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40047361/soccer-player-bet-on-bitcoin-in-2021-with-salary-is-now-up-over-100-im-a-simple-man-i-like">Soccer Player Bet On Bitcoin In 2021 With Salary, Is Now Up Over 100%: &#8216;I&#8217;m A Simple Man, I Like Playing Football And I Like Playing With My Bitcoins&#8217;</a>
Why It's Important: Former NFL player Russell Okung previously made headlines in 2020 as he announced that half his salary would be paid in Bitcoin.
While many criticized the deal and later took shots at Okung when the price of Bitcoin went down, the former NFL player is having the last laugh now with Bitcoin<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42367065/exclusive-bitcoin-briefly-tops-100000-but-where-do-benzinga-readers-predict-it-will-finish-2024"> trading near $100,000</a> and significantly higher than when he acquired it.
The approval of NIL continues to play a big role in college sports, specifically college football and the deal between Strike and Tagoa'i could be the first of more cryptocurrency deals to come.
<a href="https://www.benzinga.com/news/21/07/21816797/ncaa-athletes-can-now-make-a-profit-off-their-nil-what-to-know-and-some-early-deals">NIL deals</a> have even seen one of the richest people in the world help the University of Michigan <a href="https://www.benzinga.com/24/11/42201909/hail-to-the-victors-and-larry-ellison-billionaire-helps-michigan-football-land-top-recruit-bryce-underwood">land a top QB recruit, </a>as Benzinga previously shared. NIL is also the reason there was a new NCAA Football game for Electronic Arts Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) this season, which went on to be a top selling game for the year.
BTC Price Action: Bitcoin trades at $95,924.19 at the time of writing, versus a 52-week trading range of $38,521.89 to $108,268.45. Bitcoin is up 117% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports/24/12/42521231/travis-hunter-wins-heisman-will-he-be-1-pick-in-2025-nfl-draft-what-betting-odds-history-show">Travis Hunter Wins Heisman, Will He Be #1 Pick In 2025 NFL Draft? What Betting Odds, History Show</a></li>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Sports

USC Football Player Gets NIL Earnings In Bitcoin: 'Setting Myself Up For Long-Term Financial Growth'

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has <a href="https://www.benzinga.com/24/12/42321349/drakes-legal-fight-involving-kendrick-lamar-takes-center-stage-and-so-do-their-mega-mansions">strongly denied allegations</a> from Drake that it &#8220;artificially inflated&#8221; streaming numbers for rival artist Kendrick Lamar&#8217;s track &#8220;Not Like Us.&#8221;
What Happened: In opposition papers filed, Spotify stated it &#8220;has no economic incentive&#8221; to favor Lamar&#8217;s track over Drake&#8217;s music, <a href="https://variety.com/2024/music/news/spotify-slams-drake-claim-inflated-kendrick-lamar-streams-1236256265/">reported</a> Variety.
&#8220;Marquee was purchased on behalf of the song, for €500 to promote the track in France. Marquee is a visual ad that is disclosed to users as a Sponsored Recommendation,&#8221; stated a Spotify spokesperson.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/09/41009103/spotifys-ai-playlist-now-available-in-us-other-countries-heres-how-it-works">Spotify&#8217;s AI Playlist Now Available In US, Other Countries: Here&#8217;s How It Works</a>
Drake&#8217;s company Frozen Moments had previously filed a petition claiming that Spotify and Universal Music Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UMGNF#OTC">UMGNF</a>) artificially boosted Lamar&#8217;s streaming numbers.
The petition alleged UMG offered Spotify a 30% discount on licensing rates in exchange for promoting &#8220;Not Like Us,&#8221; a claim both companies deny.
Earlier, Universal Music Group rejected the accusations as &#8220;offensive and untrue,&#8221; underscoring their commitment to ethical marketing practices. A UMG spokesperson stated that fan choice, not manipulation, drives streaming numbers.
Drake&#8217;s legal team responded through a statement to Variety, challenging both companies to comply with discovery requests if they have &#8220;nothing to hide.&#8221;
Why It Matters: The dispute has expanded beyond streaming numbers, with Drake filing a separate action in Texas alleging defamation and improper radio promotion practices.
Neither artist is directly signed to UMG, instead licensing their music through their own companies &#8211; Drake&#8217;s OVO and Lamar&#8217;s pgLang &#8211; to Universal labels for marketing and distribution.
Sources familiar with the matter suggest that Drake&#8217;s petition primarily targets Universal — the label responsible for distributing his music since his 2009 debut with Lil Wayne's Young Money — rather than Spotify, iHeart, or Lamar himself, the report noted.
However, the timing of the legal action, revolving around a song tied to the prolonged feud between the two artists, seems far from coincidental.
"Not Like Us" stands out as a diss track that not only climbed to the top of the Billboard Hot 100 but also secured multiple nominations for the 2025 Grammy Awards.
Price Action: Spotify&#8217;s stock rose by 1.48% on Friday, closing at $460.88. Year-to-date, the company&#8217;s shares have skyrocketed 144.11%, significantly outperforming the Nasdaq 100 index, which has gained 28.68% during the same timeframe, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
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Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) shares are soaring in after-hours trading Friday after the company announced it has entered into a definitive agreement for a <a href="https://www.benzinga.com/pressreleases/24/12/g42630663/rumble-announces-775-million-strategic-investment-from-tether">strategic investment of $775 million</a> from Tether. 
The Details: Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) has agreed to purchase 103.33 million shares of Rumble Class A Common Stock at a price per share of $7.50, totaling $775 million in gross proceeds to Rumble. 
Rumble said it will use $250 million of the proceeds to support growth initiatives and the remaining proceeds to fund a self tender offer for up to 70 million of its Class A Common Stock at $7.50 per share.
Tether's investment and the tender offer are expected to close in the first quarter of 2025. Rumble&#8217;s existing Board and governance structure will remain unchanged following the closing of the transaction.
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Chris Pavlovski, Rumble&#8217;s CEO, will retain his controlling stake in the company following the completion of the transaction.&nbsp;
&#8220;I could not be more excited about this collaboration with Tether for a number of reasons. First, many people may not realize the incredibly strong connection between the cryptocurrency and free speech communities, which is rooted in a passion for freedom, transparency, and decentralization," said Pavlovski.&nbsp;
"Second, the immediate commitment of adding $250 million in cash to our balance sheet not only confirms the level of support and commitment to a collaboration between our companies, it also fuels our growth initiatives. And, third, this transaction provides an immediate liquidity event for all of our stockholders who elect to participate in the self tender offer," he added.&nbsp;
Paolo Ardoino, CEO of Tether, commented on the investment in Rumble.&nbsp;
&#8220;Tether&#8217;s investment in Rumble reflects our shared values of decentralization, independence, transparency, and the fundamental right to free expression. In today&#8217;s world, legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative," said Ardoino.
RUM Price Action: According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>, Rumble shares are up 50.7% at $10.79 in after-hours trading Friday. 
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Rumble Stock Soars On $775 Million Investment From Tether: What To Know

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