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Medigene AG Namen-Akt. nach Kapitalherabsetzung

Imagine pitching an idea so new and futuristic that most people didn't even understand it. That's exactly what Jeff Bezos faced in 1994 when he set out to raise $1 million to launch Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), a little online bookstore that would eventually become the "everything store." But in its early days, the biggest hurdle was convincing investors who didn't even know what the internet was.
<h2 class="wp-block-heading">A Tough Sell in the Early Days</h2>
Back in 1994, the internet was far from mainstream and the idea of shopping online was alien to most people. When Bezos started meeting potential investors, their first <a href="https://www.youtube.com/watch?v=rylud6kRNCw">question</a> was often, "What's the internet?" Many of them flatly rejected his pitch. Even people familiar with the book industry turned him down.&nbsp;
Don't Miss:
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<li>With 100+ historic trademarks including some of the high grossing characters in history, like Cinderella, Snow White and Peter Pan, <a href="https://www.benzinga.com/money/elf-labs-1">this company is transforming the $2 trillion entertainment market with patented AR, VR, and AI tech. — For a short window, investors are able to claim $2/share ($980 min).</a></li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>
But Bezos pressed on, believing in his idea&#8217;s power and the internet&#8217;s rapid growth. "Web usage was growing at 2,300% a year and that&#8217;s what led to the forming of amazon.com," he once explained. "Things just don't grow that fast. It's highly unusual."
To raise the $1 million he needed, <a href="https://www.benzinga.com/general/24/01/36693828/jeff-bezos-held-60-meetings-to-secure-amazon-investors-but-38-declined-his-offer-of-50-000-for-1-own">Bezos held 60 meetings</a>, tirelessly explaining his vision. Despite his efforts, &#8220;only&#8221; 22 people decided to take a chance on him. Among them were his parents, <a href="https://www.benzinga.com/personal-finance/24/05/38823157/jeff-bezos-mom-was-a-single-teen-who-took-him-to-night-school-with-her-as-an-infant-she-made-190">Mike and Jackie Bezos, who invested $245,573 – </a>a huge chunk of their life savings. Bezos warned them there was a 70% chance they'd lose it all.
The 22 investors contributed around $50,000 each in exchange for 20% of Amazon. Looking back, it was the deal of a lifetime. A $50,000 investment in 1994 would be worth around $23.5 billion today based on Amazon's current <a href="https://www.benzinga.com/quote/AMZN">market value</a> of $2.35 trillion.
See Also: <a href="https://www.benzinga.com/money/qnetic-2">This 12,000 RPM Spinning Battery With Over $100 Million In LOIs Could Be The Missing Link For Green Energy — Here&#8217;s Why Early Investors Are Flocking To Invest Before Funding Closes</a>
Launching Amazon wasn't easy. Bezos and his small team worked out of a tiny office and a low-ceilinged basement warehouse. They packed books by hand on the floor until someone <a href="https://youtu.be/p7FgXSoqfnI?si=MuFKNikRpfepdCa3&amp;t=710">suggested</a> getting packing tables – a moment Bezos jokingly described as revolutionary.
The business took off quickly, with orders pouring in from all 50 states and 45 countries in the first month. Despite the early success, Bezos knew luck played a huge role. "Starting a company like this requires not just hard work and planning but also a little planetary alignment," he later reflected.
Bezos's ability to see the potential of the internet at a time when most people didn't even know what it was proved to be a game-changer. By <a href="https://www.benzinga.com/news/24/06/39175566/jeff-bezos-once-picked-up-the-phone-and-called-amazon-customer-support-to-make-a-point-and-set-off-w">focusing on customer service</a> and building a culture of innovation, he turned Amazon into one of the most valuable companies in the world.
Read Next:
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<li>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></li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
</ul>

News

AMZN

'What's The Internet?' – Jeff Bezos Faced Clueless Investors Before Launching Amazon, Had To Give Up 20% Of The Company For Only $1 Million

Investor Peter Lynch, known for his remarkable 13-year tenure managing Fidelity&#8216;s Magellan Fund, recently said that he has never explicitly promoted <a href="https://www.benzinga.com/news/stock-split/24/12/42716205/peter-lynchs-timeless-investment-rules-you-can-always-lose-what-you-have-invested-even-if-a-stock-is-cheap">investing in the stock market</a>.
What Happened: Lynch, the author of the influential investing book &#8220;One Up On Wall Street,&#8221; clarified his stance on stock market investment in a discussion with Yahoo Finance.
During <a href="https://finance.yahoo.com/news/fidelity-legend-peter-lynch-i-never-said-to-invest-in-the-stock-market-120755736.html">the</a> interview, he emphasized that his objective was not to encourage stock market investment, but to provide guidance to those who decided to invest on how to do it correctly.
During his leadership of the Fidelity Magellan fund from 1977 to 1990, the fund achieved&nbsp;a 29.2% average annual return, making Lynch a celebrated figure in the investment world. His mantra &#8216;buy what you know&#8217; encapsulated his straightforward approach to investing.
Despite his achievements, Lynch stressed that investing in the stock market is not a game. He expressed worry about the lack of caution people exhibit when investing, often risking large amounts of money on stocks they&#8217;ve heard about in casual conversations, without conducting thorough research.
Also Read: <a href="https://www.benzinga.com/news/stock-split/25/01/42804677/investment-guru-peter-lynch-if-you-invest-only-in-an-index-youll-never-beat-it-brushing-up-on-stock-picking-skills-is-wise">Investment Guru Peter Lynch: &#8216;If You Invest Only in an Index, You&#8217;ll Never Beat It. Brushing Up on Stock-Picking Skills Is Wise&#8217;</a>
&#8220;You don&#8217;t play the market. And maybe I didn&#8217;t stress that enough in the book. It&#8217;s very important to point out, I did not say invest in the stock market. So the reason I wrote &#8216;One Up On Wall Street&#8217; was to help people that wanted to do investing,&#8221; he said.
Lynch also noted that while data is more accessible now than it was 35 years ago and trading costs have reduced, this doesn&#8217;t imply that people should become traders. &#8220;That&#8217;s not investing. That&#8217;s gambling,&#8221; he remarked.
&#8220;You know, buying three stocks a day and on Friday you sell three, buy three more next week. That&#8217;s not investing. That&#8217;s gambling,&#8221; Lynch added. 
For those considering investing, Lynch&#8217;s advice is to understand the company&#8217;s story, monitor the fundamentals, and follow the story. He also recommended creating&nbsp;a $100,000 paper portfolio of&nbsp;at least 10 stocks before investing real money to test one&#8217;s investing skills.
&#8220;There are also the turnaround ones that you hear about if you&#8217;re working in the industry, if you&#8217;re in the steel industry, the insurance industry, shipping, chemistry, railroads, you might see things get better before the money managers on Wall Street see it. You don&#8217;t need a lot of these in a lifetime. When things go from terrible to semi-terrible to OK, you can make a lot of money,&#8221; Lynch advised. 
Why It Matters: Lynch&#8217;s comments underscore the importance of careful, informed investing. His concern about people treating stock market investment like a game highlights the risks of uninformed investing. 
His advice to understand a company&#8217;s story and&nbsp;keep an eye on the&nbsp;fundamentals serves as a reminder that successful investing requires more than just following trends. 
His suggestion to create a paper portfolio before investing real money emphasizes the value of practice and preparation in investing.
Read Next
<a href="https://www.benzinga.com/markets/24/12/42499608/investment-guru-peter-lynch-if-you-cant-explain-to-an-11-year-old-in-2-minutes-or-less-why-you-own-t" target="_blank" rel="noreferrer noopener">Investment Guru Peter Lynch: ‘If You Can't Explain To An 11-Year-Old In 2 Minutes Or Less Why You Own The Stock, You Shouldn't Own It'</a>

Success Stories

Markets

Peter Lynch's Money-Making Advice: 'When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money'

The past week has been a whirlwind of tech advancements and strategic deals, with AI taking center stage.&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stole the spotlight at the Consumer Electronics Show (CES) with its AI-powered innovations. Meanwhile,&nbsp;Hewlett Packard Enterprise Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) secured a billion-dollar deal with Elon Musk&#8217;s X, and President-elect Donald Trump revealed his vision for AI and energy expansion. Here&#8217;s a recap of the top stories.
Nvidia&#8217;s AI Innovations at CES
Nvidia kicked off the week with a strong presence at CES, where CEO&nbsp;Jensen Huang&nbsp;unveiled the company&#8217;s $3,000 personal AI supercomputer, Project DIGITS. Powered by the GB10 Grace Blackwell super chip, this desktop-sized marvel is set to revolutionize AI capabilities. Huang also showcased the new RTX 5000 GPU series, RTX 50-series laptops, and the Grace Blackwell NVLink 72 system.
<a href="https://www.benzinga.com/media/25/01/42843417/nvidia-highlights-ai-chips-powering-pubg-robotics-chatgpt-moment-automotive-expansion-and-more-at-ces-event">Read the full article here.</a>
Unveiling of Nvidia&#8217;s $3000 Personal AI Supercomputer
During his CES keynote, Huang introduced Digits, a compact, high-performance machine designed to run advanced AI models right from your desk. Priced at $3,000, Digits is powered by Nvidia's proprietary GB10 Grace Blackwell superchip, specifically designed to accelerate computations required for AI workloads. The supercomputer is expected to be available in May 2025.
<a href="https://www.benzinga.com/tech/25/01/42838231/jensen-huang-unveils-3000-personal-ai-supercomputer-the-size-of-a-small-book-it-runs-the-entire-nvidia-ai-stack">Read the full article here.</a>
HP&#8217;s $1 Billion AI Server Deal with Elon Musk&#8217;s X
Hewlett Packard Enterprise has reportedly secured a deal worth over $1 billion to supply AI-optimized servers to Elon Musk‘s social media platform, X. The deal, finalized late last year, sees HP providing servers tailored for AI applications, a sector experiencing robust demand from enterprises.
<a href="https://www.benzinga.com/25/01/42931833/hewlett-packard-enterprise-strikes-1b-ai-server-deal-with-elon-musks-x-report">Read the full article here.</a>
Elon Musk&#8217;s Push for OpenAI Stake Auction
Elon Musk has requested the attorneys-general of California and Delaware to mandate an auction of a substantial portion of OpenAI's stake. Musk's legal representative, Marc Toberoff, reached out to the top legal officers of the states on behalf of major AI investors, advocating for an open bidding process.
<a href="https://www.benzinga.com/news/legal/25/01/42904926/elon-musk-pushes-california-delaware-attorneys-general-to-force-openai-stake-auction-amid-bitter-legal-battle-with-sam-altman">Read the full article here.</a>
Trump&#8217;s Vision for AI and Energy Expansion
President-elect Donald Trump spotlighted AI and drilling expansion as pillars of his economic vision. During a press conference at Mar-a-Lago, Trump outlined plans to accelerate America&#8217;s leadership in AI by supporting private investments in data centers and energy infrastructure.
<a href="https://www.benzinga.com/government/regulations/25/01/42865106/trump-vows-to-power-ai-boom-with-expanded-oil-drilling-need-double-the-electricity-at-least-that-we-have-right-now">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Tech

NVDA

Nvidia's AI Supercomputer, HP's $1 Billion Deal With Elon Musk's X, And Trump's AI-Driven Vision: This Week In Artificial Intelligence

These eleven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Inari Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NARI#NASDAQ">NARI</a>) shares jumped 53.07% after Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>) agreed to acquire the company for $80 per share or equity value <a href="https://www.benzinga.com//node/42841672" target="_blank" rel="noreferrer noopener">of approximately $4.9 billion</a>.</li>
<li>Unifirst Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) stock escalated 29.58% after the company <a href="https://www.benzinga.com//node/42878530" target="_blank" rel="noreferrer noopener">reported first-quarter results</a>.</li>
<li>Plug Power, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) stock gained 23.18% last week after the U.S. Treasury unveiled its final guidance on the 45V Production Tax Credit, setting the stage for a <a href="https://www.benzinga.com/topic/hydrogen" target="_blank" rel="noreferrer noopener">greener hydrogen future</a>. Plug Power stands to benefit.</li>
<li>Paycor HCM, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYCR#NASDAQ">PYCR</a>) shares rose 20.77% after the company disclosed a deal to be fully acquired by Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) in an all-cash transaction representing an <a href="https://www.benzinga.com//node/42855388" target="_blank" rel="noreferrer noopener">enterprise value of around $4.1 billion</a>.</li>
<li>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) shares upped 20.50%.</li>
<li>SpringWorks Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWTX#NASDAQ">SWTX</a>) gained 19.18% last week amid rumors of takeover interest.</li>
<li>Frontline Plc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) stock grew 17.29%, probably after President-elect Donald Trump said he would reverse President Biden&#8217;s ban on offshore drilling.</li>
<li>Guardant Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GH#NASDAQ">GH</a>) shares rose 15.53%. The company announced that the Shield Multi-Cancer Detection Test was selected for <a href="https://www.benzinga.com//node/42842047" target="_blank" rel="noreferrer noopener">the National Cancer Institute&#8217;s Vanguard Study</a>.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) shares increased 15.40%.</li>
<li>Capri Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>) stock grew 15.04% amid reports suggesting Prada may be a potential buyer for Capri&#8217;s Versace.</li>
<li>Equinox Gold Corp. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EQX#AMEX">EQX</a>) stock rose 14.88%. The company reported producing 213,960 ounces of gold in the fourth quarter <a href="https://www.benzinga.com//node/42888339" target="_blank" rel="noreferrer noopener">and 621,870 ounces in 2024</a>.</li>
</ol>
Photo courtesy Plug Power
Read next:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/25/01/42934713/walgreens-boots-alliance-aurora-innovation-and-delta-air-lines-are-among-top-large-cap-gainers-last-week-jan-6-10-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Walgreens Boots Alliance, Aurora Innovation And Delta Air Lines Are Among Top Large Cap Gainers Last Week (Jan 6-10): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/25/01/42934826/mobileye-palantir-tech-and-affirm-are-among-top-large-cap-losers-last-week-jan-6-10-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Mobileye, Palantir Tech And Affirm Are Among Top Large Cap Losers Last Week (Jan 6-10): Are The Others In Your Portfolio?</a></li>
</ul>

Mid Cap

Movers

Trading Ideas

CPRI

NARI

PAYX

PLUG

PYCR

SWTX

Plug Power, Capri And Frontline Are Among Top Mid Cap Gainers Last Week (Jan 6-10): Are The Others In Your Portfolio?

In a shock development in the crypto market, $903 million in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was moved in several transactions within the last 24 hours, sparking widespread speculation about the <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42380983/this-analyst-says-bitcoin-could-reach-200k-by-end-of-2025">intent behind these substantial transfers.</a>
What Happened: The blockchain data tracker Whale Alert tracked 10 distinct high-value Bitcoin transactions. These transactions included the movement of Bitcoin between unidentified wallets and major exchanges such as&nbsp;Kraken,&nbsp;Binance, and&nbsp;Robinhood.
As per the <a href="https://whale-alert.io/transaction/bitcoin/ff789a9d88de7786c68a20fd4042cda567689072c050ea95006d91b318ce7457">data</a>, among these transactions, 620 BTC valued at $58,495,235, 888 BTC valued at $83,875,225, and 1,027 BTC valued at&nbsp;$96,745,111 were transferred from Kraken&nbsp;to unknown wallets. Furthermore, 1,164 BTC valued at $109,706,616 were moved between unknown wallets.
<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">&#x1f6a8; &#x1f6a8; &#x1f6a8; 620 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> (58,495,235 USD) transferred from <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw">#Kraken</a> to unknown wallet<a href="https://t.co/0YvAcenIyX">https://t.co/0YvAcenIyX</a>
&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1877979720597323780?ref_src=twsrc%5Etfw">January 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Other significant transfers encompassed 600 BTC valued at $56,816,922&nbsp;moved from Robinhood to an&nbsp;unknown wallet, 999 BTC valued at $93,643,885&nbsp;sent from an unknown wallet&nbsp;to Binance, and 640 BTC valued at $60,789,981 and 775 BTC valued at $72,929,703&nbsp;transferred from Kraken to unknown&nbsp;wallets. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42933328/analyst-warns-of-bitcoins-uncertain-future-amid-key-support-breakdown-it-could-get-ugly">Analyst Warns of Bitcoin&#8217;s Uncertain Future Amid Key Support Breakdown: &#8216;It Could Get Ugly&#8217;</a>
Additionally, 1,881 BTC valued at $176,504,307 and 1,003 BTC valued at&nbsp;$94,116,863 were moved from unknown&nbsp;wallets to the Kraken crypto&nbsp;exchange.
Why It Matters: The reasons behind these large-scale movements are still uncertain. However, deposits to exchanges could imply an intention to sell, while withdrawals could suggest buying. Over-the-counter trades outside of crypto exchanges could be another potential explanation.
At the time of writing, Bitcoin was trading at $94,568, up by almost&nbsp;1% in the last 24&nbsp;hours, and below its all-time high of $108,268 which reached on Dec. 17, 2024.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049183/heres-how-a-bitcoin-whale-nets-179m-from-a-120-investment" target="_blank" rel="noreferrer noopener">Here's How A Bitcoin Whale Nets $179M From A $120 Investment</a>

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

Cryptocurrency

$BTC

Massive $903 Million Bitcoin Transfer Stirs Crypto Market: What's Happening?

Bill Cosby was once one of the highest-paid entertainers in the world. However, in a sign of his plummeting financial fortunes, the 86-year-old disgraced former comedian is being sued for defaulting on a $17.5 million mortgage for his New York City town house.&nbsp;
The coveted <a href="https://www.benzinga.com/25/01/42803829/the-super-rich-go-crazy-for-new-yorks-luxury-real-estate-as-11-billion-changes-hands">Upper East Side</a> home – on which the patriarch of the much-loved Cosby Show was unable to maintain mortgage payments – is part of Cosby&#8217;s downward financial spiral. At the height of his powers, Cosby was worth $400 million. The town house – at 18 East 71st, a six-story, 12,060-square-foot home built in 1899 (according to Daytonian In Manhattan) – just steps from Central Park, was a surprise gift to his wife, Camille. It was a savvy buy. Cosby purchased the house through a lawyer for $6.2 million in 1987, during the peak years of The Cosby Show, then the number-one show on <a href="https://www.benzinga.com/general/entertainment/24/08/40341238/comcast-stock-to-win-gold-medal-2024-summer-olympics-viewership-up-82-from-2020-olympics">NBC</a> and in the country.
Don't Miss:
<ul>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/go/arrived-private-credit-yf">7-9% target yield with monthly dividends would you invest in it</a>?</li>
<li>Unlock the hidden potential of commercial real estate —<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=unlockboost-yahoo"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a></li>
</ul>
<h2 class="wp-block-heading">A Troubled History</h2>
However, the home had a troubled history from the start of Cosby&#8217;s ownership. According to the L.A. Times, the couple accused their lawyer, Mary Waller – who oversaw the purchase – of stealing millions of dollars from them. Three years after closing on the home, the Cosbys put the property in the name of Camille&#8217;s mother, according to the New York Observer.
According to Yahoo, the couple has not made a mortgage payment since June and owes over $300,000 in taxes on the home. This latest default follows another – allegedly on a $4.2 million loan on a four-story Lenox Hill home they have owned since 1980, according to business website Crain's.
See Also: CEO of Integris gathered a team of senior investment managers who have $34.22 billion in combined owned and managed assets in the West Coast —<a href="https://www.benzinga.com/money/integris"> here&#8217;s how to invest in their private credit fund that targets 12% annual interest rate.</a>
<h2 class="wp-block-heading">A Ruined Reputation&nbsp;</h2>
Cosby&#8217;s beloved reputation was wrecked through multiple high-profile lawsuits, during which time he denied all claims against him.
Cosby once owned homes in Connecticut, California and Philadelphia. However, according to Market Watch, he currently resides in a <a href="https://www.benzinga.com/real-estate/25/01/42845317/homes-are-lingering-redfin-reports-u-s-housing-supply-up-12-as-2024-ends-with-954703-active-listings">suburban Philadelphia home</a> purchased for $225,000 in 1983, shortly before &#8220;The Cosby Show&#8221; began airing. The house – on a 3-acre lot, has seven bedrooms and 6.5 bathrooms.&nbsp;
<h2 class="wp-block-heading">A Vortex Of Legal Woes</h2>
Since the revelations about his personal life first broke, Cosby has been mired in legal and financial woes, resulting in high legal fees of $1 million a month. Whyy.org revealed that one of Cosby's law firms had 28 lawyers working on 10 cases. The lawyers made about $500 to $1,075 per hour. The net result has been a huge drain on Cosby&#8217;s finances. Now, in his late eighties, with a destroyed reputation and his earning years long gone, Cosby appears resigned to losing his assets.
Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today.<a href="https://smartasset.com/retirement/find-a-financial-planner?utm_source=benzinga&amp;utm_campaign=ben&amp;utm_content=y2_5MilNestEgg"> SmartAsset&#8217;s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost</a> to decide which one is right for you.
<h2 class="wp-block-heading">Interest Rates Are Falling, But These Yields Aren't Going Anywhere</h2>
Lower interest rates mean some investments won't yield what they did in months past, but you don't have to lose those gains. Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities.
<a href="https://www.benzinga.com/go/arrived-private-credit-yf">Arrived Home's Private Credit Fund&#8217;s has historically paid an annualized dividend yield of 8.1%&#x2A;</a>, which provides access to a pool of short-term loans backed by residential real estate. The best part? Unlike other private credit funds, <a href="https://www.benzinga.com/go/arrived-private-credit-yf">this one has a minimum investment of only $100.&nbsp;</a>
Looking for fractional real estate investment opportunities? The <a href="https://www.benzinga.com/alternative-investments/real-estate">Benzinga Real Estate Screener</a> features the latest offerings.

Real Estate

Bill Cosby Is Facing Foreclosure on Two NYC Homes, A Sign Of The Disgraced Comic's Financial Decline

The past week was a rollercoaster for the cryptocurrency world. From predictions of a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) supercycle to a groundbreaking Senate subcommittee on digital assets, the crypto landscape is buzzing with activity. Here&#8217;s a quick recap of the top stories that shaped the crypto market over the weekend.
Bitcoin Supercycle on the Horizon?
Economist and trader Alex Kruger has expressed a bullish outlook on Bitcoin, despite the cryptocurrency currently trading 13% below its all-time high. Kruger attributes this optimism to the approval of spot Bitcoin exchange-traded funds (ETFs) in January 2024, which he suggests may alter Bitcoin's traditional four-year halving cycles.
<a href="https://www.benzinga.com/25/01/42931747/bitcoin-supercycle-incoming-says-economist-but-theres-a-catch">Read the full article here.</a>
Crypto&#8217;s Capitol Hill Breakthrough
In a significant development, the Senate Banking Committee announced the creation of its first-ever subcommittee dedicated to cryptocurrency and blockchain technology. This move signifies a shift in the political landscape, indicating a broader acceptance and integration of digital currencies into the mainstream of U.S. governance.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42921493/cryptos-capitol-hill-breakthrough-senate-subcommittee-signals-shifting-political-winds">Read the full article here.</a>
Bitcoin&#8217;s Q1 Prospects
Despite Bitcoin&#8217;s struggle between $90,000 and $100,000, analysts and traders remain upbeat about its prospects in the first quarter of 2025. Asymmetric Fund CEO Joe McCann shared his "tactical short-term bearish" outlook for the cryptocurrency market but remains optimistic about Q1 as a seasonally profitable period.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42919731/bitcoin-to-bounce-back-in-q1-but-beware-20-corrections-analysts-warn">Read the full article here.</a>
Scaramucci&#8217;s Crypto Strategy
Anthony Scaramucci, CEO of investment firm SkyBridge Capital, revealed his take-profit strategy for cryptocurrencies. He stated that he would not sell his Bitcoin but rather target altcoins such as Solana (SOL/USD) in the long run.
<a href="https://www.benzinga.com/25/01/42906639/anthony-scaramucci-was-asked-about-his-take-profit-strategy-on-bitcointhis-is-what-he-said">Read the full article here.</a>
Unfortunate Bitcoin Loss
James Howells, known for accidentally discarding a hard drive containing 8,000 Bitcoin, suffered a setback in his quest to reclaim his fortune. A high court ruling dismissed Howells' legal claim to recover the hard drive, citing no "reasonable grounds" for bringing the claim and "no realistic prospect" of winning it.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42901382/man-who-accidentally-threw-away-8000-bitcoin-hard-drive-suffers-new-kick-in-the-teeth-as-uk-court-dismisses-his-claim">Read the full article here.</a>
Read Next:
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</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Bitcoin's Supercycle, Crypto's Capitol Breakthrough, And More: This Week In Crypto

These nine large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares declined 21.83% amid overall market weakness due to a rise in yields.</li>
<li>Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>) stock fell 18.76%, probably due to wildfires in California.</li>
<li>Constellation Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) stock dipped 18.31% after the company reported worse-than-expected results and cut its FY25 adjusted EPS<a href="https://www.benzinga.com//node/42913319" target="_blank" rel="noreferrer noopener"> guidance and sales growth outlook</a>.</li>
<li>Pacific Gas &amp; Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) stock declined 14.19%, probably due to wildfires in California.</li>
<li>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) stock declined 12.59% after Truist Securities downgraded the stock from Buy to Hold and lowered <a href="https://www.benzinga.com/quote/on/analyst-ratings" target="_blank" rel="noreferrer noopener">its price forecast from $85 to $60</a>.</li>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) stock fell 11.52% amid overall market weakness, driven by a rise in yields.</li>
<li>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) shares decreased 10.66%, probably due to overall market weakness following recent economic data and a rise in yields.</li>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares decreased 10.55%, probably due to overall market weakness.</li>
<li>The Campbell&#8217;s Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) stock lost 10.22% last week. Wells Fargo lowered the <a href="https://www.benzinga.com/quote/cpb/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast</a> on the stock from $45 to $43 but maintained an equal-weight rating.</li>
</ol>
Photo via Affirm
Read next:
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<li><a href="https://www.benzinga.com/news/large-cap/25/01/42934713/walgreens-boots-alliance-aurora-innovation-and-delta-air-lines-are-among-top-large-cap-gainers-last-week-jan-6-10-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Walgreens Boots Alliance, Aurora Innovation And Delta Air Lines Are Among Top Large Cap Gainers Last Week (Jan 6-10): Are The Others In Your Portfolio?</a></li>
</ul>

Equities

Large Cap

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COHR

MBLY

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Mobileye, Palantir Tech And Affirm Are Among Top Large Cap Losers Last Week (Jan 6-10): Are The Others In Your Portfolio?

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) stock gained 27.97% last week after the company <a href="https://www.benzinga.com//node/42912519" target="_blank" rel="noreferrer noopener">reported better-than-expected</a> first-quarter financial results.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) stock jumped 25.80% after the company announced an agreement to acquire Calpine Corp., an electricity generation company, in a cash and stock <a href="https://www.benzinga.com//node/42916941" target="_blank" rel="noreferrer noopener">deal valued at $16.4 billion</a>.</li>
<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) shares escalated by 20.48%.</li>
<li>TD SYNNEX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) stock was up 15.05% after the company reported better-than-expected <a href="https://www.benzinga.com//node/42915528" target="_blank" rel="noreferrer noopener">fourth-quarter financial results</a>.</li>
<li>Aurora Innovation, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) shares grew 14.59% after the company announced a partnership with NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Continental AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CTTAF#OTC">CTTAF</a>) to scale driverless trucks using NVIDIA's <a href="https://www.benzinga.com//node/42841305" target="_blank" rel="noreferrer noopener">next-gen DRIVE Thor SoC</a>.</li>
<li>Royalty Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) shares are up 14.35% after the company announced it <a href="https://www.benzinga.com//node/42902266" target="_blank" rel="noreferrer noopener">increased its quarterly dividend</a>.</li>
<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares rose 13.75%. The company announced an expansion of its collaboration with Pure Storage to develop high-capacity, energy-efficient <a href="https://www.benzinga.com//node/42853369" target="_blank" rel="noreferrer noopener">solutions using Micron G9 QLC NAND</a>.</li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) stock upped 13.34% after the company reported better-than-expected<a href="https://www.benzinga.com//node/42912208" target="_blank" rel="noreferrer noopener"> results and issued 2025 guidance</a>.</li>
<li>Intra-Cellular Therapies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) stock gained 12.62%, entering into a settlement agreement with Sandoz and resolving a patent litigation related to CAPLYTA Patent.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) surged 12.24% in sympathy with Delta Air Lines, which rose after reporting strong <a href="https://www.benzinga.com//node/42919651" target="_blank" rel="noreferrer noopener">fourth-quarter financial results</a>.</li>
</ol>
Photo by VanderWolf via Shutterstock

CTTAF

FTAI

ITCI

RPRX

SNAP

Walgreens Boots Alliance, Aurora Innovation And Delta Air Lines Are Among Top Large Cap Gainers Last Week (Jan 6-10): Are The Others In Your Portfolio?

The week was a rollercoaster for the tech world, particularly for&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). The tech giant faced a potential market share decline in China, while its CEO, Tim Cook, enjoyed a significant pay rise. Amid privacy controversies, Apple clarified its Siri privacy policies and acknowledged AI flaws. Meanwhile,&nbsp;Samsung Electronics Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp;unveiled a subscription model for its AI-powered Galaxy smartphones.
Apple&#8217;s Market Share Decline in China
Apple is reportedly facing a drop in its market share in China, attributed to a decrease in iPhone shipments, according to supply chain analyst Ming-Chi Kuo. Despite the expected launch of the new iPhone SE 4, Kuo forecasts a 6% year-over-year decline in shipments for the first half of 2025. The thin design of two upcoming iPhone models, which may only support eSIM, a feature not widely promoted in the Chinese market, is expected to contribute to this decline.
<a href="https://www.benzinga.com/tech/25/01/42931758/apple-staring-at-market-share-decline-in-china-amid-declining-iphone-shipments-top-analyst-flags-why-some-models-could-be-face-shipping-momentum-challenges">Read the full article here.</a>
Tim Cook&#8217;s 2024 Salary
Despite controversies over Apple&#8217;s AI and Siri privacy policies, CEO Tim Cook saw an 18% increase in his annual compensation in 2024, reaching $74.6 million. The rise was primarily due to an increase in stock awards and non-equity incentive plan compensation.
<a href="https://www.benzinga.com/tech/25/01/42931220/apple-ceo-tim-cook-took-home-74-6-million-in-2024-up-18-despite-ai-and-siri-privacy-controversies">Read the full article here.</a>
Apple Clarifies Siri Privacy Policies
Following a $95 million settlement over allegations of unauthorized recordings, Apple clarified its privacy policies regarding Siri. The company emphasized that it has never sold or used Siri data for marketing purposes.
<a href="https://www.benzinga.com/tech/25/01/42890955/apple-clarifies-siri-privacy-policies-after-95-million-settlement">Read the full article here.</a>
Apple Admits AI Flaws
Apple has committed to updating its AI feature following a complaint from the BBC. The tech giant acknowledged that its AI-generated news summaries on iPhones have been inaccurate.
<a href="https://www.benzinga.com/25/01/42836957/apple-acknowledges-ai-flaws-after-bbc-complaint-vows-fix-for-misleading-news-summaries">Read the full article here.</a>
Apple Rival Unveils AI Subscription Model
Apple rival Samsung is set to introduce a subscription model for its Galaxy smartphones, following Apple&#8217;s pause on its own subscription service plans. The AI Subscription Club, initially launched for select Samsung home appliances in South Korea, will be expanded to Galaxy phones and the Ballie AI robot.
<a href="https://www.benzinga.com/tech/25/01/42893958/after-apple-halts-hardware-subscription-plans-samsung-unveils-similar-strategy-for-ai-powered-galaxy-smartphones">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

AAPL

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Apple's Market Woes, Tim Cook's 2024 Salary, And Siri Privacy Concerns: This Week In Appleverse

The week has been a rollercoaster ride for the U.S. economy. From a slowdown in private sector job growth to rising inflation concerns at the Federal Reserve, the economic landscape has been anything but predictable. Let&#8217;s dive into the top stories that shaped the week.
Private Sector Job Growth Slows Down
The U.S. private sector added 122,000 jobs in December, a significant drop from November&#8217;s 146,000, according to a report by&nbsp;Automatic Data Processing Inc.&nbsp;The manufacturing sector saw a contraction in employment for the third consecutive month, indicating a potential slowdown in the labor market.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42873182/us-private-businesses-add-122000-jobs-in-december-the-labor-market-downshifted-to-a-more-modest-pace-of-growth">Read the full article here.</a>
Federal Reserve Expresses Inflation Concerns
The Federal Reserve&#8217;s December meeting was dominated by concerns over persistent inflation and potential policy shifts under the new White House administration. Policymakers were divided on the pace of future rate adjustments, with the Fed cutting rates by 25 basis points, bringing the federal funds rate to 4.25%-4.5%.
<a href="https://www.benzinga.com/news/econ-s/25/01/42884303/fed-minutes-reveal-inflation-jitters-policymakers-signal-slower-interest-rate-easing-path-ahead">Read the full article here.</a>
Strong Job Growth in December
The U.S. labor market ended 2024 on a high note, adding 256,000 jobs in December, surpassing economist forecasts. The Bureau of Labor Statistics reported that this marked the strongest employment growth since March 2024.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42912480/us-economy-adds-256000-payrolls-in-december-as-tight-labor-market-tops-forecasts-dollar-treasury-yields-spike">Read the full article here.</a>
Mortgage Rates Hit Six-Month High
The new year started on a sour note for prospective U.S. homebuyers as mortgage rates surged to their highest level in six months. The average interest rate on 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less climbed to 6.97%, according to data from the Mortgage Bankers Association.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42764583/mortgage-rates-soar-to-697-applications-crash-jobless-claims-fall-thursdays-econ-data">Read the full article here.</a>
Dollar Hits 14-Month High Amid Tariff Speculation
The U.S. dollar extended its rally to a 14-month high amid speculation that President-elect Donald Trump is considering invoking sweeping emergency powers to implement new tariffs. This move could potentially fuel inflation and policy uncertainty.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42878896/dollar-jumps-to-14-month-highs-30-year-yields-near-danger-zone-as-trump-mulls-national-economic-emergency-to-set-tariffs">Read the full article here.</a>
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<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Economics

General

Job Growth, Fed Jitters, And Rising Mortgage Rates: This Week In Economics

The past week was packed with significant events that could potentially shape the future of tech, politics, and entertainment. From the Supreme Court hearing arguments on the potential TikTok ban to Google&#8217;s hefty donation to Trump&#8217;s inauguration, here&#8217;s a recap of the top stories.
Supreme Court Hears TikTok Arguments
The U.S. Supreme Court heard oral arguments on Friday regarding legislation that could ban TikTok, owned by&nbsp;ByteDance, in the United States in nine days. Last year, Congress passed a law requiring ByteDance to sell TikTok or face a ban in the U.S. ByteDance has since filed a lawsuit to block the law, and the case is now in the hands of the Supreme Court.
<a href="https://www.benzinga.com/25/01/42919029/supreme-court-hears-tiktok-oral-arguments">Read the full article here.</a>
John Fetterman Accepts Trump Invitation
Pennsylvania Sen. John Fetterman will become the first Democrat to join the slew of politicians and billionaire businesspeople who are making the trek to meet with President-elect Donald Trump at his Mar-a-Lago home in Palm Beach, Florida. Fetterman stated that he accepted the invitation to meet Trump as he is the senator for all Pennsylvanians, not just Democrats.
<a href="https://www.benzinga.com/markets/cannabis/25/01/42913566/john-fetterman-first-democratic-lawmaker-to-accept-trump-invitation-to-mar-a-lago">Read the full article here.</a>
Jimmy Carter&#8217;s Funeral
President Jimmy Carter&#8217;s solemn state funeral in Washington, D.C.'s National Cathedral brought together five living U.S. presidents, including President-elect Donald Trump. The first eulogy was given by one of Carter&#8217;s grandsons, Joshua Carter, who praised his grandfather&#8217;s lifelong pursuit of peace and justice.
<a href="https://www.benzinga.com/markets/cannabis/25/01/42901026/jimmy-carters-funeral-5-living-presidents-attend-family-colleagues-share-warm-humorous-stories">Read the full article here.</a>
Google Donates $1 Million To Trump Inauguration
Alphabet Inc. (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>)&nbsp;owned search giant Google has announced a $1 million donation to Trump&#8217;s inauguration fund, joining the ranks of Meta Platforms, Amazon.com, Ford Motor Company, and more. Several tech billionaires including Apple CEO Tim Cook and OpenAI CEO Sam Altman have also announced $1 million donations.
<a href="https://www.benzinga.com/tech/25/01/42898021/google-donates-1-million-to-trump-inauguration-plans-youtube-livestream-pleased-to-support">Read the full article here.</a>
Amazon To Pay $40 Million For Melania Trump Documentary
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp;is reportedly investing $40 million in a documentary about Melania Trump, directed by Brett Ratner. The deal also includes a follow-up docuseries, marking Ratner's return to filmmaking after a hiatus since 2018.
<a href="https://www.benzinga.com/25/01/42931869/jeff-bezos-amazon-to-pay-40-million-for-melania-trump-documentary-report">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Politics

GOOG

GOOGL

Supreme Court Hears Tiktok Case, Google Donates To Trump Inauguration, And More: This Week In Politics

Gov. Maura Healey has proposed a $425 million spending bill to keep Massachusetts' emergency shelter system running through the end of fiscal year 2025.&nbsp;
The plan unveiled recently would drain nearly all remaining pandemic-era surplus funds to cover <a href="https://www.benzinga.com/real-estate/24/11/41811635/rent-soars-pay-lags-why-millions-are-working-50-hours-just-to-afford-housing-according-to-new-report">rising shelter costs</a>. Without the cash injection, state officials predict funding for the system, which supports migrants and residents, will run out by January 31.
Healey stressed the urgency in a letter to lawmakers, calling for immediate action. "Additional resources are necessary to fund the current system in the short term while accelerating efforts to increase the rate of exits and bring the caseload down to sustainable levels," Healey wrote. She also criticized the federal government's inaction on border security and immigration reform.
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The state-run shelter system currently houses about 7,500 families, including children and pregnant women. This number is pushing the system to its limits, with state data showing Massachusetts spent about $325 million on the Emergency Assistance (EA) Family Shelter program in the first half of fiscal year 2024.
The EA budget for Fiscal Year 2024 was $955 million, reflecting a significant increase from previous years.&nbsp;
Healey's proposal includes policy reforms aimed at reducing costs. She plans to cut the maximum stay in state shelters from nine to six months and phase out the use of hotels and motels by the end of 2024.&nbsp;
The governor's spending plan has sparked heated debate. Massachusetts operates under a &#8220;right-to-shelter&#8221; law, which mandates emergency housing for eligible families. Critics argue the system is financially unsustainable and point to recent incidents to bolster their case.&nbsp;
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For example, in December 2024, Massachusetts State Police arrested 28-year-old Dominican national Leonardo Andujar Sanchez at a state-run emergency family shelter in Revere. Authorities discovered approximately 10 pounds of fentanyl, valued at over $1 million, along with an AR-15 rifle and large-capacity magazines in his possession.
Earlier in the year, in March 2024, 26-year-old Haitian national Cory Bernard Alvarez was arrested for allegedly raping a 15-year-old girl at a Comfort Inn in Rockland, Massachusetts, which was serving as a migrant shelter.&nbsp;
Alvarez was initially held without bail but was released on a $500 bond in June, despite an immigration detainer lodged by U.S. Immigration and Customs Enforcement (ICE). ICE agents rearrested him in August near his residence in Brockton.&nbsp;
Massachusetts Republicans have criticized Gov. Maura Healey&#8217;s administration for allegedly spending nearly $1 billion on the state&#8217;s migrant crisis without sufficient transparency.&nbsp;
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MassGOP Chair Amy Carnevale stated in a release from the State's Republican Party, &#8220;The Healey-Driscoll Administration has shrouded nearly $1 billion spent in secrecy, leaving Massachusetts residents in the dark.&#8221;&nbsp;
She accused the administration of withholding critical information on numerous<a href="https://www.benzinga.com/personal-finance/24/10/41275275/donald-trump-suggests-that-an-extraordinarily-rough-police-approach-could-be-the-key-to-ending-r"> incidents involving police</a>, fire and emergency medical services.
Still, Healey's administration maintains the system has provided vital support to vulnerable families. "Massachusetts taxpayers should not be footing the bill for this federal problem," Healey said in a public statement, calling for federal action on immigration reform.
While Democrats control both the Massachusetts House and Senate, their response remains uncertain. Senate President Karen Spilka's office said it would review the bill upon arrival, while House Speaker Ron Mariano is yet to respond.
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<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>
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Personal Finance

Gov. Healey Pushes $425M Spending Bill To Prevent Shelter Crisis As Funds Set To Run Dry By Jan. 31

Wall Street&#8217;s positive outlook for 2025 has been disrupted by a robust jobs report. The unexpected data has triggered a market sell-off and sparked concerns of a challenging year ahead.
What Happened: Traders have interpreted the rising strength of the U.S. labor market negatively. The fear is that it could obstruct further monetary easing, leading to a significant market sell-off on Friday.
The jobs report, which indicated a boost in payrolls and a drop in unemployment, has raised alarm among those who were counting on more stimulus from Jerome Powell&#8216;s Federal Reserve, <a href="https://www.bloomberg.com/news/articles/2025-01-10/blowout-jobs-report-fuels-wall-street-fear-of-lose-lose-market?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a> Bloomberg.
This development has especially jeopardized&nbsp;interest-rate sensitive strategies and indebted&nbsp;companies across Corporate America.
&#8220;The&nbsp;last few weeks might be&nbsp;a good preview of what&nbsp;the entire year will be&nbsp;like,&#8221; Priya Misra, a portfolio manager at&nbsp;JP Morgan Asset Management told the outlet. 
&#8220;Not&nbsp;easy but volatile and messy&nbsp;&#8211; we have a combination&nbsp;of the Fed on hold,&nbsp;rich valuations and two-sided policy uncertainty,&#8221; she added. 
The S&amp;P 500 took a significant hit on Friday, experiencing its largest&nbsp;weekly drop since Fed Chair&nbsp;Powell signaled last month that inflation was still a concern. Treasury yields continued their upward trajectory, with 30-year rates briefly surpassing 5%.
Stocks and bonds have posted negative returns for five straight weeks, marking the longest losing streak since September 2023, based on the performance of the world's largest ETFs tracking the S&amp;P 500 and long-term Treasuries. 
Also Read: <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42918778/december-jobs-report-a-wake-up-call-for-anyone-betting-on-rate-cuts-analyst-says">December Jobs Report A &#8216;Wake-Up Call For Anyone Betting On Rate Cuts,&#8217; Analyst Says</a>
This marks the worst start for the S&amp;P 500 since 2022 and for the TLT ETF, which tracks longer-maturity Treasuries, since 2021, reports the outlet. 
The employment report is the latest in a series highlighting a strengthening US economy and rising potential for increased price pressures. 
Inflation expectations for the next two years, as indicated by two-year breakevens, stand at 2.7%, the highest level since April. Meanwhile, commodity prices surged 4% this week, and Brent crude oil hit $80 per barrel for the first time since October, driven by news of U.S. sanctions.
Investors are now dealing with the undesirable side of the Trump trade: escalating bond yields driven by concerns that unchecked spending and trade tariffs will fuel inflation. 
&#8220;There&nbsp;is just too much optimism&nbsp;based on consensus thinking that&nbsp;the Fed&#8217;s&nbsp;going to keep cutting interest&nbsp;rates,&#8221; stated&nbsp;Max Wasserman, a senior portfolio manager at&nbsp;Miramar Capital.
Why It Matters: The unexpected jobs report has shaken Wall Street&#8217;s optimism for the year ahead. The fear that a strong labor market could obstruct further monetary easing has led to a significant market sell-off. 
This development has raised concerns among investors, particularly those banking on more stimulus from the central bank. 
The situation is further complicated by the Fed&#8217;s stance on inflation and the impact of the Trump trade. As Wall Street grapples with these challenges, the year ahead promises to be volatile and uncertain.
Read Next
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Image: Shutterstock

Unexpectedly Strong Jobs Report Sends Shockwaves Through Wall Street, Triggering Market Sell-Off

As California grapples with devastating wildfires, tensions between Gov. Gavin Newsom (D-Calif.) and<a href="https://www.benzinga.com/markets/equities/25/01/42927868/10-dead-9000-structures-damaged-in-los-angeles-wildfires-the-latest" target="_blank" rel="noreferrer noopener"> President-elect </a><a href="https://www.benzinga.com/markets/equities/25/01/42927868/10-dead-9000-structures-damaged-in-los-angeles-wildfires-the-latest" target="_blank" rel="noreferrer noopener">Donald Trump</a><a href="https://www.benzinga.com/markets/equities/25/01/42927868/10-dead-9000-structures-damaged-in-los-angeles-wildfires-the-latest" target="_blank" rel="noreferrer noopener"> have reached new heights</a>.
What Happened: Newsom has extended an invitation to Trump to visit the state and survey the destruction caused by devastating wildfires.
In a letter sent on Friday, Newsom urged Trump to meet with first responders, firefighters, and those affected by the fires that have claimed at least 10 lives and destroyed over 10,000 homes and businesses, <a href="https://www.politico.com/news/2025/01/10/newsom-trump-los-angeles-fire-00197662" target="_blank" rel="noreferrer noopener">reports</a> Politico.
Meanwhile, Trump reportedly attacked Newsom&#8217;s forest management policies and wrongly blamed the state&#8217;s fish conservation efforts for fire hydrants running dry in cities, <a target="_blank" href="https://apnews.com/article/trump-newsom-wildfire-los-angeles-california-hydrants-water-3d20474ceb25f163adff4456a54efbf2" rel="noreferrer noopener">reports</a> AP News. He also mocked Newsom with a nickname and called for his resignation.
Newsom emphasized the importance of unity in the face of tragedy, stressing that the disaster should not be politicized.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42899028/la-wildfire-damages-estimated-above-52-billion-california-property-insurance-crisis" rel="noreferrer noopener">LA Wildfire Damages Could Top $52 Billion As California Faces Property Insurance Crisis</a>
The fires have escalated tensions between Newsom, a Democrat, and the incoming Republican president, who has frequently criticized California&#8217;s management of wildfires.
Trump has used the disaster as a platform to renew calls for sweeping changes to state water policies and to once again accuse California of failing to manage its resources.
During his first term, Trump demanded policy concessions in exchange for federal disaster relief, a stance that Newsom remembered as he sought support from the Biden administration.
This week, Newsom successfully appealed to President Biden, who approved a major disaster declaration and committed to covering all fire management and debris removal costs for the next six months, Politico adds.
In contrast, a Trump official downplayed the suggestion that federal aid would be withheld from California, stating that the president-elect has always expressed a willingness to work with anyone for the benefit of the American people, Politico reports.
However, Newsom warned that the situation remains dire, with winds of up to 70 miles per hour expected over the coming days, and the threat to lives and property still high.
As the state grapples with the immediate aftermath of the fires, Newsom reiterated the need for a cooperative federal response, expressing gratitude for the quick action taken by Biden&#8217;s administration.
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</ul>

Trump vs. Newsom: Wildfire War Escalates as California Faces Destruction

Howie Buffett, the son of renowned investor Warren Buffett, is readying himself to assume a prominent role as the non-executive chairman of&nbsp;Berkshire Hathaway Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>).
What Happened:&nbsp;Howie Buffett is set to take the helm at Berkshire Hathaway, a conglomerate boasting a market value close to $1 trillion. Having served on the company&#8217;s board for over 30 years, the younger Buffett has gained valuable insights into his father&#8217;s business strategies.
According to the report <a href="https://www.wsj.com/business/howard-buffett-succession-berkshire-hathaway-72b2caa7">by</a> The Wall Street Journal, Warren Buffett has been transparent about his succession plans, expressing his wish for his middle child to follow in his footsteps as non-executive chairman to preserve the company&#8217;s culture. Greg Abel, a seasoned Berkshire executive, is likely to step into the role of CEO.
The siblings of Howie Buffett, Susie and Peter, are also poised to play crucial roles in channeling their father&#8217;s&nbsp;nearly $140 billion in Berkshire&nbsp;stock towards philanthropic causes, marking one of the most substantial wealth transfers in recent history.
Also Read: <a href="https://www.benzinga.com/markets/25/01/42803655/this-warren-buffett-backed-stock-is-a-2025-top-pick-with-big-gains-ahead-says-analyst">This Warren Buffett-Backed Stock Is A 2025 &#8216;Top Pick&#8217; With Big Gains Ahead</a>
Despite questions raised about Howie Buffett&#8217;s limited business experience, Warren Buffett has shown faith in his son&#8217;s capacity to steer the company. 
&#8220;He&nbsp;won't have to think about&nbsp;running the business," the outlet quoted Warren Buffett saying.&nbsp;"He'll only have to think&nbsp;about whether&nbsp;the board may need to&nbsp;change the CEO."
Why It Matters:&nbsp;The transition of leadership at Berkshire Hathaway is a significant event in the business world. The company, under Warren Buffett&#8217;s stewardship, has grown into a trillion-dollar conglomerate. 
The decision to appoint Howie Buffett as non-executive chairman is a clear indication of Warren Buffett&#8217;s intent to maintain the company&#8217;s culture and values. 
Furthermore, the planned philanthropic endeavors by the Buffett siblings represent a significant shift in the distribution of wealth, potentially impacting a wide range of social causes.
Read Next
<a href="https://www.benzinga.com/markets/24/12/42638957/warren-buffetts-timeless-advice-if-youre-gonna-do-dumb-things-because-your-stock-goes-down-you-shouldnt-own-a-stock-at-all" target="_blank" rel="noreferrer noopener">Warren Buffett's Timeless Advice For Investing $10,000: ‘If You're Gonna Do Dumb Things Because Your Your Stock Goes Down, You Shouldn&#8217;t Own A Stock At All&#8217;</a>
Image: Shutterstock

Warren Buffett's Middle Child Howie Buffett Steps Into Spotlight: An Heir to Berkshire Hathaway Throne?

California&#8217;s $10 trillion residential property market is under siege as wildfires wreak havoc across the southern part of the state.
What Happened: The fires, which have already destroyed more than 5,000 buildings, pose a potential risk to the stability of the state&#8217;s insurance market.
A report <a href="https://www.bloomberg.com/graphics/2025-los-angeles-wildfires-insurance/?srnd=homepage-americas&amp;sref=TBDibEcD">by</a> Bloomberg said that the wildfires have struck three areas identified as particularly susceptible. One of these is the Pacific Palisades neighborhood in Los Angeles.
Michael Wara,&nbsp;a senior researcher and wildfire&nbsp;expert at Stanford University told the outlet, &#8220;Pacific&nbsp;Palisades really jumps out, even&nbsp;in the context of high-risk&nbsp;areas in California.&#8221;
As of Friday, more than 57,000 structures were in severe danger, and more than 150,000 people were under evacuation.  JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) estimated on Thursday that the insured damages could surpass $20 billion, making it the most expensive wildfire in US history.
Also Read: <a href="https://www.benzinga.com/news/25/01/42922091/spacex-apple-airbnb-and-more-companies-pitch-in-to-support-california-residents-after-wildfires-we-want-to-help">SpaceX, Apple, Airbnb And More Companies Pitch In To Support California Residents After Wildfires: &#8216;We Want To Help&#8217;</a>
The wildfires have sparked concerns about the future of insurance for&nbsp;homes in one of the&nbsp;world&#8217;s most valuable property markets. 
"This sustainable insurance strategy is built for events like this," Michael Soller, deputy commissioner of the Department of Insurance said. "It is intended to stabilize the insurance market for the long term."
Daniel Swain, a climatologist at the University of California, Los Angeles, said, &#8220;Could a single event cause insurers to become insolvent? That&#8217;s the great fear.&#8221;
The escalating departure&nbsp;of private insurers has left&nbsp;the state-backed insurer of last&nbsp;resort, the California FAIR Plan,&nbsp;in a precarious position. 
The FAIR Plan&nbsp;could be on the hook&nbsp;for billions, as&nbsp;it estimated its own exposure&nbsp;in the larger Pacific Palisades&nbsp;area at nearly $6 billion.
According to the report, the State Farm, California's largest insurer, reduced nearly 70% of its policies in a Pacific Palisades ZIP code last year, while FAIR saw its policy count in the same area surge by 85%. 
This shift has left FAIR potentially liable for billions. As of September, the plan estimated its exposure in the broader Pacific Palisades region at nearly $6 billion. 
However, its most recent public financial report from spring of last year revealed just $200 million in surplus cash reserves and $2.5 billion in reinsurance—coverage designed to protect insurers in catastrophic scenarios—leaving a significant gap in resources.
Insurers with significant exposure to California&#8217;s homeowners' market faced sharp declines on Friday, as the devastation caused by the Los Angeles wildfires escalated.
Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) shares plunged 6%, while Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) and Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) both dropped more than 3%, ranking among the biggest losers in the S&amp;P 500. Meanwhile, American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>) and Progressive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) saw declines exceeding 1%.
According to JPMorgan, Allstate, Chubb, and Travelers are the insurers most exposed to the financial impact of the wildfires. The firm highlighted that Chubb&#8217;s focus on high-net-worth clientele in the region could lead to particularly elevated exposure.
Why It Matters: The current wildfires and the looming insurance crisis underscore the increasing threat of climate change. With the fires continuing largely unchecked, many are left pondering&nbsp;if this event will permanently&nbsp;alter the relationship between climate&nbsp;risk and homes in California. 
The escalating crisis not only threatens the property market but also poses a significant risk to the state&#8217;s economy.
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</ul>
Image: Wikimedia Commons

California's $10 Trillion Property Market Faces Unprecedented Threat From Wildfires

President-elect Donald Trump's Middle East envoy has arrived in Israel to push for a <a href="https://www.benzinga.com/news/24/09/40977597/us-warns-israel-against-opening-a-full-blown-war-against-hezbollah-as-air-strikes-kill-30-in-lebanon" target="_blank" rel="noreferrer noopener">ceasefire in the ongoing Israel-Hamas war</a> before Trump&#8217;s inauguration, which is less than 10 days away.
Trump has set a firm deadline, demanding all hostages be released before his inauguration on January 20, with severe consequences if not met, <a target="_blank" href="https://www.ft.com/content/1781d594-e94c-416a-9b7a-b3eb630fb6b3" rel="noreferrer noopener">reports</a> the Financial Times.
Real estate mogul and Trump ally Steve Witkoff met with Israeli Prime Minister Benjamin Netanyahu after talks in Doha with Qatari officials and the Biden administration.
The diplomatic efforts gained urgency with Netanyahu's office confirming that a high-level Israeli delegation, led by Mossad chief David Barnea, would travel to Doha for follow-up talks.
Analysts view Barnea's involvement as crucial to any potential breakthrough, the report adds.
The indirect negotiations, mediated by Egypt, Qatar, and the United States, have shown signs of progress despite significant hurdles, reports Reuters.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/global/25/01/42805025/biden-proposes-massive-8-billion-arms-deal-including-bombs-for-israel" rel="noreferrer noopener">Biden Proposes Massive $8 Billion Arms Deal, Including Bombs, for Israel</a>
According to Egyptian security sources, Egyptian and Qatari mediators were assured by Witkoff that the U.S. would persist in efforts to secure a fair resolution to end the war soon, although no specific details were provided.
Brett McGurk, Biden's Middle East adviser, was also in Doha, where the parties continue to work toward a ceasefire deal and the release of hostages.
However, a major sticking point remains the identification and condition of the hostages to be released first—primarily women, the elderly, and the wounded.
The critical issue revolves around ensuring the hostages are alive, with Israel demanding clarity on which of the captives are still living, the Financial Times added, citing a person familiar with the negotiations.
Israel began its assault on Gaza following a Hamas attack in October 2023, where fighters crossed into Israeli territory, killing 1,200 people and taking over 250 hostages, Reuters writes, referring to Israeli reports. Since then, Palestinian health officials have reported that more than 46,000 people have been killed in Gaza.
The outcome of these negotiations could be a pivotal moment in the region's complex geopolitics.
Read Next
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<li><a href="https://www.benzinga.com/news/24/10/41196317/trump-urges-israel-to-target-iran-nuke-sites-hit-nuclear-first-and-worry-about-the-rest-later" target="_blank" rel="noreferrer noopener">Trump Urges Israel To Target Iran Nuke Sites: ‘Hit Nuclear First And Worry About The Rest Later&#8217;</a></li>
</ul>

Macro Economic Events

Trump's Envoy Presses Netanyahu for Gaza Deal: Can Ceasefire Push Succeed Before Inauguration?

A prominent cryptocurrency analyst has raised concerns about Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) potential downfall if it fails to maintain a significant support level.
What Happened: Altcoin Sherpa, a well-known crypto trader, alerted on X that Bitcoin&#8217;s value could plummet to the low $80,000 range if it fails to hold $90,000 as support.
Altcoin Sherpa further speculated that Bitcoin might continue its bearish trend until the US government finalizes its plans for the Bitcoin seized from the Silk Road darknet marketplace. 
This speculation comes in the wake of reports that the government has received legal approval to sell over 69,000 BTC.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> maybe we&#39;re going to just see an endless twap sell for now and no bidders until this stupid government selloff is over. If ppl get overlevered then it could get ugly if we lose 90k or so. Hoping we can absorb it but not feeling super confident. wouldn&#39;t be super surprised… <a href="https://t.co/ZBNMjCNzbd">pic.twitter.com/ZBNMjCNzbd</a>
&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1877309941221888090?ref_src=twsrc%5Etfw">January 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;Maybe we&#8217;re going to just see an endless twap sell for now and no bidders until this stupid government selloff is over. If ppl get overlevered then it could get ugly if we lose 90k or so. Hoping we can absorb it but not feeling super confident. wouldn&#8217;t be super surprised If we wick down to mid low 80ks in some scenarios,&#8221; the analyst shared in the post. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42380983/this-analyst-says-bitcoin-could-reach-200k-by-end-of-2025">This Analyst Says Bitcoin Could Reach $200K By End of 2025</a>
At the time of writing, Bitcoin was trading at $94,356, marking just 1% increase in the last 24 hours.
The analyst also shared his thoughts on the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based memecoin Fartcoin (CRYPTO: FARTCOIN), predicting a potential drop of more than 28% from its current value based on Fibonacci retracement levels. 
FARTCOIN was trading at $0.84, down 2.4% in the last 24 hours.
Why It Matters: The potential loss of a key support level for Bitcoin could have significant implications for the cryptocurrency market. 
The uncertainty surrounding the US government&#8217;s plans for the seized Bitcoin adds to the volatile nature of the market. Furthermore, the predicted decline of Fartcoin, a Solana-based memecoin, underscores the risks associated with investing in such digital assets. 
As the market continues to evolve, investors must remain vigilant and informed about these developments.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049183/heres-how-a-bitcoin-whale-nets-179m-from-a-120-investment" target="_blank" rel="noreferrer noopener">Here&#8217;s How A Bitcoin Whale Nets $179M From A $120 Investment</a>

$SOL

Analyst Warns of Bitcoin's Uncertain Future Amid Key Support Breakdown: 'It Could Get Ugly'

Several high-profile celebrities,&nbsp;including Paris Hilton, Milo Ventimiglia,&nbsp;and Billy Crystal, have lost&nbsp;their homes to the raging wildfires in Los Angeles&#8217; Pacific Palisades neighborhood.
What Happened: The wildfires, which started on Tuesday, have been wreaking havoc in the Pacific Palisades area, a region known for its expensive real estate. 
As per the report <a href="https://www.businessinsider.com/la-wildfire-pacific-palisades-malibu-celebrities-neighborhood-a-listers-2025-1">by</a> Business Insider, the fire spread west towards the Malibu stretch of the Pacific Coast Highway, leading to the city of Malibu issuing an evacuation warning on Wednesday. By Thursday, the fire had spread across 27 square miles.
Ventimiglia, known for his roles in &#8220;This is Us&#8221; and &#8220;Heroes,&#8221; watched his Malibu home burn via security cameras. He described the experience as &#8220;heavy&#8221; and heart-wrenching in an interview with CBS.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Actor Milo Ventimiglia tells CBS News' <a href="https://twitter.com/tonydokoupil?ref_src=twsrc%5Etfw">@TonyDokoupil</a> he helplessly watched his home burn to the ground through security cameras. The 47-year-old father-to-be returned to his property to see what was left. <a href="https://t.co/jidcR5ZAsY">pic.twitter.com/jidcR5ZAsY</a>
&mdash; CBS Evening News (@CBSEveningNews) <a href="https://twitter.com/CBSEveningNews/status/1877512742430499064?ref_src=twsrc%5Etfw">January 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Other celebrities, including Bryan Greenberg, Jamie Chung, and Mel Gibson, also confirmed that their homes had been destroyed. Gibson learned about the fires while recording a podcast episode in Texas.
Also Read: <a href="https://www.benzinga.com/news/25/01/42907248/warren-buffetts-berkshire-hathaway-to-have-minimal-impact-from-la-wildfires-but-insurers-like-mercury-general-chubb-face-higher-risk">Warren Buffett&#8217;s Berkshire Hathaway To Have Minimal Impact From LA Wildfires, But Insurers Like Mercury General, Chubb Face Higher Risk</a>
&#8220;I was doing the [Joe] Rogan podcast, and kind of ill at ease while we were talking, because I knew my neighborhood was on fire, so I thought, I wonder if my place is still there. But when I got home, sure enough, it wasn&#8217;t there,&#8221; Gibson said.
&#8220;Obviously, it&#8217;s kind of devastating. It&#8217;s emotional. You live there for a long time, and you had all your stuff,&#8221; he added. 
Paris Hilton shared her heartbreak on Instagram, stating that watching her home burn on live TV was an experience no one should have to go through. Despite the loss, she expressed gratitude&nbsp;that her family and pets&nbsp;were safe.
&#8220;Sitting with my family, watching the news, and seeing our home in Malibu burn to the ground on live TV is something no one should ever have to experience,&#8221; Hilton wrote in an Instagram post. &#8220;This home was where we built so many precious memories.&#8221;
Actors&nbsp;John Goodman, Anna Faris, and&nbsp;Anthony Hopkins also reportedly lost their homes to the fires.
Why It Matters: The wildfires, fueled by the Santa Ana winds and the ongoing drought in Southern California, have been growing increasingly severe over the past few decades. 
Researchers&nbsp;from the University of California,&nbsp;Irvine, have identified the human-caused climate crisis as a major factor in&nbsp;the state&#8217;s increase in wildfires&nbsp;over the last 25 years. 
This incident underscores the urgent need for effective climate change mitigation strategies.
Read Next
<a href="https://www.benzinga.com/markets/equities/25/01/42927868/10-dead-9000-structures-damaged-in-los-angeles-wildfires-the-latest">10 Dead, 9,000 Structures Damaged In Los Angeles Wildfires: The Latest</a>
Image: Shutterstock

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