Latest news for Prospect Capital (NYSE:PSECpA) Stock

Prospect Capital Corp is a closed-end investment company based in the United States. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. The company invests primarily in senior and subordinated debt and equity of private companies for acquisitions, divestitures, growth, development, recapitalizations, and other purposes. It makes investments, including lending in private equity, sponsored transactions, directly to companies, investments in structured credit, real estate, and syndicated debt.

Prospect Capital Corporation 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock

Prospect Capital Corp

When it comes to personal finance, few things spark more debate than credit card usage. However, it seems that for Kevin O&#8217;Leary, the &#8220;Shark Tank&#8221; investor and businessman, the issue couldn't be more obvious—<a href="https://www.benzinga.com/news/24/04/38299693/heres-the-gravest-error-you-can-make-with-credit-cards-like-owing-money-to-loan-sharks">credit card debt is a financial trap</a>. O&#8217;Leary's recent <a href="https://x.com/kevinolearytv/status/1883537883501310043">remarks</a> about the dangers of overspending and credit card debt struck a chord with many—and for good reason.
O&#8217;Leary's advice is to simply track your spending. &#8220;Take a piece of paper, you don&#8217;t need a computer, write down the money you made in 90 days and how much you spent during that same period," <a href="https://x.com/kevinolearytv/status/1883537883501310043">he said in an interview</a> with local Fox morning show "Good Day New York" earlier this week.&nbsp;
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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>
</ul>
Most people are shocked to find they're spending more than they're earning. And where does that excess spending end up? On credit cards. With interest rates hovering around 21%, carrying a balance is like pouring money down the drain. O'Leary calls it "the silent killer" of American finances, and he's not exaggerating.
Credit card balances, which now <a href="https://www.newyorkfed.org/microeconomics/hhdc">total</a> $1.17 trillion outstanding, increased by $24 billion during the third quarter alone and are 8.1% higher than they were a year earlier. These figures underline just how deeply entrenched credit card debt has become in American households.
Trending: 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>.
<h2 class="wp-block-heading">Mark Cuban's Take</h2>
O&#8217;Leary isn't the only one sounding the alarm. Billionaire and fellow &#8220;Shark Tank&#8221; star <a href="https://www.benzinga.com/personal-finance/24/05/39092288/if-you-use-your-credit-card-you-do-not-want-to-be-rich-warns-mark-cuban-on-the-dave-ramsey-show">Mark Cuban shares a similar sentiment</a>. In a chat with financial guru Dave Ramsey on "The Ramsey Show" last May, Cuban didn't hold back, saying, &#8220;If you use your credit cards, you do not want to be rich.&#8221; His solution is to pay off all your credit cards and burn them.
Cuban broke it down like this: if your credit card interest rate is 15% to 20%, paying it off is like earning that percentage back. In his view, there's no better return on investment. Ramsey, who's built a career on helping people get out of debt, wholeheartedly agreed. He highlighted a Forbes survey that found 75% of wealthy people prioritize staying out of debt. &#8220;Life is better without credit cards,&#8221; Ramsey added, emphasizing that financial freedom starts with ditching high-interest debt.
See Also: <a href="https://www.benzinga.com/money/are-you-rich-2">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
<h2 class="wp-block-heading">Credit Cards Aren't Always the Villain</h2>
Not everyone agrees with the no-credit-card approach. For many Americans, responsibly using credit cards is a <a href="https://www.benzinga.com/money/best-credit-cards-to-build-credit">way to build a credit history</a>, which is crucial for securing loans for big-ticket items like homes. Colin Palfrey, chief marketing officer at personal finance management company Crediful, points out, &#8220;For many average Americans, buying a home is a major part of their wealth-building plans, and not being able to establish a credit history will make it harder to get good rates.&#8221;
Read Next:
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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>
<li>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></li>
</ul>

News

'21% Interest Rates?! You've Got To Be Kidding Me!' Kevin O'Leary Slams Credit Card Debt As 'The Real Silent Killer In America'

The Trump administration has rescinded Temporary Protected Status (TPS) for more than 300,000 Venezuelans in the United States, leaving them vulnerable to deportation in the coming months, according to government documents <a href="https://www.nytimes.com/2025/02/02/us/politics/trump-venezuela-temporary-protected-status.html">obtained</a> by The New York Times and reported Sunday.
The news comes one day after President Donald Trump's <a href="https://truthsocial.com/@realDonaldTrump/posts/113929394841474581">Saturday post</a> on Truth Social announcing that Venezuelan President Nicolás Maduro had met with Trump administration official Richard Grenell and agreed to take back people who entered the U.S. illegally. The <a href="https://www.cbsnews.com/miami/news/senior-trump-official-travels-to-venezuela-for-talks-on-migrants/">meeting in Caracas</a> also led to the release of six US detainees held in Venezuela.
The NYT report underscores Trump's crackdown on the TPS program, which he began during his first term (2017-2021) though his efforts at the time were blocked by federal courts. TPS is normally available to people whose home country experienced a natural disaster, armed conflict or other extraordinary events.
<a href="https://www.benzinga.com/topic/kristi-noem">Kristi Noem</a>, Homeland Security Secretary, said TPS was no longer necessary because it did not serve the national interest of the United States. according to the administration. 
"After reviewing country conditions and considering whether permitting Venezuelan nationals covered by the 2023 designation is contrary to the national interest of the United States, in consultation with the appropriate U.S. government agencies, the secretary of homeland security has determined that Venezuela no longer continues to meet the conditions for the 2023 designation," the administration's notice states, per the NY Times.
<h2 class="wp-block-heading">Trump Administration Moving Quickly</h2>
In past TPS terminations, such as for El Salvador and Haiti, the affected individuals were granted at least 12 to 18 months before their status expired. This time, however, the administration is moving more swiftly. Venezuelans who received TPS 2023 will lose their protected status just 60 days after the termination notice is published.
Republican critics have long argued that TPS had evolved into a de facto permanent immigration program, rather than the temporary relief it was originally intended to provide.
More than 300,000 Venezuelans now hold TPS while another 250,000 have protections that extend through September. While the latter group is not immediately affected, the recent Trump administration decision suggests their status could also be in jeopardy.
At the time of this writing, there was no response as yet from the Maduro government in Venezuela. 
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Photo: Shutterstock

Government

Latin America

Politics

Legal

300,000 Venezuelans Lose Protected Immigration Status: Trump Official Says Program Is 'Contrary To The National Interest'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly facing challenges in the burgeoning fields of artificial intelligence (AI) and augmented reality (AR), suggesting a potential decline in its product innovation prowess. This comes despite the company posting record-high quarterly revenue.
Bloomberg columnist Mark Gurman in his <a href="https://www.bloomberg.com/news/newsletters/2025-02-02/apple-aapl-ai-and-ar-struggles-show-it-has-lost-some-of-its-product-edge?srnd=undefined&amp;sref=TBDibEcD">latest</a> weekly &#8220;Power On&#8221; revealed that Apple&#8217;s ventures in AI and AR are trailing behind competitors such as Samsung Electronics Co., Alphabet Inc.&#8216;s Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and various Chinese phone manufacturers. Despite efforts to position Apple Intelligence as a leading AI solution, the platform lags years behind its rivals.
Apple&#8217;s venture into AR has been equally challenging. The Vision Pro headset, despite its impressive engineering, has not resonated with consumers who prefer a lightweight pair of glasses &#8211; a product that Apple currently does not offer.
Also Read: <a href="https://www.benzinga.com/tech/25/01/43219433/apples-augmented-reality-gamble-faces-challenges-as-rivals-surge-ahead-in-ai-and-design">Apple&#8217;s Augmented Reality Gamble Faces Challenges As Rivals Surge Ahead In AI and Design</a>
Apple&#8217;s struggles also extend to its flagship product, the iPhone, which hasn&#8217;t&nbsp;seen a major upgrade since&nbsp;2020. While Apple&#8217;s fundamentals remain strong and it continues to generate substantial revenue, these hurdles indicate a potential loss in its product development edge.
Apple&#8217;s difficulties in AI and AR could have significant implications for its future innovation capabilities. The company&#8217;s inability to keep pace with competitors in these emerging fields could impact its market position and profitability in the long run. 
Furthermore, the lack of major upgrades to the iPhone, its most important product, may also affect its market share and consumer loyalty. 
As such, these challenges underscore the importance of continuous innovation and adaptation in the fast-paced tech industry.
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Image: Shutterstock

Tech

AAPL

GOOGL

Apple's Struggles in AI and AR Indicate a Loss in Product Edge

Billionaire entrepreneur Mark Cuban has put forth an idea that could potentially shake up the dominance of tech giants in the social media space. Cuban shared his strategy on the social news network Bluesky.
What Happened: Cuban&#8217;s proposition is straightforward: dedicate 20 minutes each day to encourage friends, family, and businesses to join Bluesky. 
The platform currently has 1.5 million daily users, significantly less than its competitor X, which boasts 18 million. Despite this, Cuban views Bluesky, a decentralized platform, as the &#8220;last, best chance&#8221; for the majority to reclaim power over social media.
Since the November election, Cuban has been actively using Bluesky, gathering a following of 869,000. 
He has lauded the platform as a &#8220;less hateful world&#8221; compared to X. At the CES event in Las Vegas, Cuban urged the audience to join him on Bluesky, criticizing X for its content and lack of effective features.
However, Cuban is not advocating for a complete shift from X, but rather the growth of Bluesky as a platform that can&#8217;t be monopolized by a few. 
Also Read: <a href="https://www.benzinga.com/tech/25/01/43219136/cuban-on-musk-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-for-when-its-truly-deserved">Cuban on Musk: &#8216;I Have No Problem Throwing Elon Under the Bus, but I&#8217;ll Save It for When It&#8217;s Truly Deserved&#8217;</a>
He asserts that there&#8217;s no downside to creating a profile on Bluesky, particularly as the platform expands and the influence of other social media platforms begins to wane.
In a <a href="https://bsky.app/profile/did:plc:y5xyloyy7s4a2bwfeimj7r3b/post/3lf46sttalc2m?ref_src=embed&amp;ref_url=https%253A%252F%252Fwww.inc.com%252Fbill-murphy-jr%252Fmark-cuban-just-suggested-a-20-minute-daily-habit-to-destabilize-elon-musk-mark-zuckerberg-and-president-trump%252F91104367">post </a>in the platform, Cuban said, &#8220;Is it worth 20 MINS a day to proactively recruit and bring your friends, neighbors, relatives, businesses, anyone who is or could be a user, to @bsky.app? If Bluesky ends up with more users than the others, you destabilize musk, zuck, trump."
Why It Matters: Cuban&#8217;s endorsement of Bluesky comes at a time when the power dynamics of social media are under scrutiny. His strategy could potentially disrupt the status quo, challenging the dominance of tech giants in the social media landscape. 
By advocating for a decentralized platform, Cuban is promoting a more democratic approach to social media, where power is not concentrated in the hands of a few. 
This could usher in a new era of social media, where users have more control over their online experiences.
Read Next
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Mark Cuban Suggests 20-Minute Daily Habit to 'Destabilize' Musk, Zuckerberg, and Even President Trump

Retirement planning has become a breeding ground for fearmongering. Financial experts and news headlines often leave you convinced you'll need a dragon's hoard of gold to survive your golden years. But let's take a breath – what if you <a href="https://www.benzinga.com/personal-finance/24/11/42018132/can-you-guess-what-percent-of-people-have-1-million-saved-spoiler-alert-its-far-lower-than-most-statistics-lead-you-to-believe">actually have $1 million saved</a> by the time you hit 65? Are you doomed to rationing instant ramen or is that number better than they're letting on? Spoiler: You're probably better off than you think.
Here's the real breakdown of how long that $1 million could stretch – and some practical tips to make it last even longer.
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</ul>
How Far Can $1 Million Take You?
The simple answer? It depends. However, using some averages, $1 million could last 18-30 years. Here's the math:
Average Annual Expenses: According to the Bureau of Labor Statistics (BLS), households led by someone 65 or older spent around $60,087 per year in 2023.
Social Security to the Rescue: The average Social Security benefit as of 2024 is $1,907 per month or $22,884 per year. That means Social Security will cover about a third of your annual expenses.
Net Draw from Savings: Subtracting Social Security, your retirement fund needs to cover about $37,203 annually.
Years of Cushion: Divide $1 million by $37,203 and you've got nearly 27 years of living expenses or 26.88 to be exact.
If you control your spending and account for investment growth (hello, <a href="https://www.benzinga.com/personal-finance/24/05/38618728/suze-orman-calls-the-4-retirement-rule-very-dangerous-in-todays-challenging-economic-climate">4% rule</a>), your savings could even stretch to 30+ years.
See Also: <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>&nbsp;
What Could Shorten (or Stretch) Your Nest Egg?
The longevity of $1 million depends on key variables:
• Where You Live: Retiring in a high-cost state like California might burn through your funds faster than a <a href="https://www.benzinga.com/personal-finance/24/07/39616687/the-surprising-retirement-hotspots-growing-fastest-in-america-none-in-florida-but-even-hotter">budget-friendly haven</a> like Mississippi.
• Health care Costs: Healthcare expenses for a retired couple average $315,000 over retirement, according to Fidelity. That's not pocket change.
• Inflation: Even modest inflation can erode purchasing power over time. That $60,000 budget today? It might feel like $80,000 in 15 years.
• Spending Habits: Are you splurging on cruises every year or enjoying simpler pleasures like gardening and book clubs?
Trending: The average 401(k) balance soars to a record-breaking high – <a href="https://www.benzinga.com/money/average-401k-balances-soars-to-record-high">Here's how to know if your nest egg is keeping pace.</a>
Strategies to Stretch $1 Million Further
1. Delay Social Security: If you <a href="https://www.benzinga.com/personal-finance/24/04/38439971/should-you-begin-collecting-social-security-at-62-67-or-70-the-right-answer-may-depend-on-your-b">wait until age 70 to claim</a>, your monthly benefit could increase by up to 32%, which is thousands more annually.
2. Retire in a Cheaper Location: Consider downsizing or relocating to a state or country with a lower cost of living.
3. Stick to the 4% Rule: This guideline suggests withdrawing 4% of your savings annually (adjusted for inflation) to make your money last 30+ years.
4. Budget Like a Pro: Track your spending and cut unnecessary expenses. Small tweaks – like reducing dining out – can make a big difference over time.
5. Plan for Healthcare: Consider long-term care insurance or health savings accounts (HSAs) to offset hefty medical bills.
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>
Live Your Dream Retirement
While $1 million might not buy you a yacht and a mansion, it can fund a comfortable, fulfilling retirement – especially with a little planning and a lot of common sense. Your retirement years aren't about <a href="https://www.benzinga.com/personal-finance/25/01/43011673/dave-ramsey-says-stop-trying-to-keep-up-with-the-joneses-theyre-broke-warns-people-are-fake-rich-average-household-debt-is-175075">outspending the Joneses</a> but about living life on your terms.
The key is to prepare. With smart financial choices, a dash of frugality and an honest look at your needs, $1 million could take you further than you ever imagined. <a href="https://www.benzinga.com/money/are-you-rich">Consulting a financial advisor</a> can also help you maximize what you've saved.&nbsp;
Retirement should be about enjoying yourself, not worrying about every dollar spent. So plan well and enjoy the ride. You've earned it.
Read Next:
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<li><a href="https://www.benzinga.com/money/suze-orman-retirement-bucket">&#8216;Which Bucket Do I Draw From First?&#8217; Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts</a></li>
<li><a href="https://www.benzinga.com/money/planning-your-retirement-new-changes-to-social-security-in-2025-could-affect-you">Planning Your Retirement? New Changes To Social Security In 2025 Could Affect You</a></li>
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Personal Finance

Do You Know How Long $1 Million Will Last If You Retire At 65? Here's A Hint – Longer Than You're Led To Think!

In a recent cybersecurity incident, customer data at one of America&#8217;s largest banks was compromised, as per a government filing.
What Happened: TD Bank, the 10th-largest bank in the US by total assets, disclosed in a <a href="https://www.mass.gov/doc/2025-110-td-bank-na/download">report </a>that a former employee had unauthorized access to and shared sensitive customer data from August to December 2022.
The breached data potentially includes names, contact information, birth dates, account numbers, and transactional data. While the exact number of affected customers remains undisclosed,&nbsp;at least eight customers in&nbsp;Massachusetts have been confirmed to be impacted.
The bank has since terminated the employee responsible for the breach and is currently conducting an investigation in conjunction with law enforcement. TD Bank&#8217;s corporate security team is also participating in the probe.
Also Read: <a href="https://www.benzinga.com/markets/25/01/43219362/bank-of-americas-sensitive-customer-data-compromised-in-third-party-hack-is-your-account-safe">Bank of America&#8217;s Sensitive Customer Data Compromised in Third-Party Hack &#8211; Is Your Account Safe?</a>
As a remedial measure, TD Bank is providing the affected customers with&nbsp;a complimentary membership to an&nbsp;online fraud prevention and detection&nbsp;service. The bank is also assisting in&nbsp;the process of closing and&nbsp;opening accounts for enhanced security.
TD Bank customers, depending on their state of residence, have the option to&nbsp;place a security freeze on&nbsp;their credit reports with the&nbsp;three major US consumer reporting&nbsp;agencies.
Why It Matters: This incident underscores the growing concern over cybersecurity in the banking sector. Insider threats, whether intentional or accidental, pose a significant risk to the security of sensitive customer data. 
Banks must continually enhance their cybersecurity measures to prevent such incidents and protect their customers&#8217; information. 
This breach at TD Bank serves as a stark reminder of the importance of robust internal controls and stringent employee access policies.
Read Next
<a href="https://www.benzinga.com/news/24/12/42716153/massive-data-breach-exposes-millions-of-credit-and-debit-cards-is-your-account-safe" target="_blank" rel="noreferrer noopener">Massive Data Breach Exposes Millions of Credit and Debit Cards—Is Your Account Safe?</a>
Image: Shutterstock

TD Bank Confirms Data Breach: Account Numbers and Sensitive Customer Info Exposed

Antero Midstream Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AM#NYSE">AM</a>) owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling.
It is scheduled to report its Q4 2024 earnings on Feb. 12. Wall Street analysts expect the company to post EPS of $0.27, up from $0.24 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $272.58 million, up from $260.17 million last year.
The 52-week range of Antero Midstream stock price is $11.58 to $16.86.
Antero Midstream dividend yield is 5.75%. It paid $0.90 per share in dividends during the last 12 months.
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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://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=jeffbezos100"> Here&#8217;s how you can earn passive income with just $100.</a></li>
</ul>
<h2 class="wp-block-heading">The Latest On Antero Midstream</h2>
On Oct. 30, 2024, the company announced its Q3 2024 earnings, posting adjusted EPS of $0.23, in line with expectations, while the revenues of $269.87 million missed the consensus estimate of $272.175 million, as reported by <a href="https://www.benzinga.com/news/earnings/24/10/41636807/antero-midstream-q3-2024-adj-eps-0-23-inline-sales-269-870m-miss-272-175m-estimate">Benzinga</a>.
Paul Rady, chairman and CEO said, &#8220;During the third quarter, Antero Midstream generated $40 million of Free Cash Flow after dividends, which was an increase of 32% from last year.&nbsp; This represents the ninth consecutive quarter of generating Free Cash Flow after dividends and brings the year-to-date total to almost $160 million.&#8221;
Trending: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-y2">Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!</a>
<h2 class="wp-block-heading">How Can You Earn $100 Per Month As An Antero Midstream Investor?</h2>
If you want to make $100 per month — $1,200 annually — from Antero Midstream dividends, your investment value needs to be approximately $20,870, which is around 1,334 shares at $15.64 each.&nbsp;
Understanding the dividend yield calculations: When making an estimate, you need two key variables — the desired annual income ($1,200) and the dividend yield (5.75% in this case). So, $1,200 / 0.0575 = $20,870 to generate an income of $100 per month.
You can calculate the dividend yield by dividing the annual dividend payments by the current price of the stock.
The dividend yield can change over time. This is the outcome of fluctuating stock prices and dividend payments on a rolling basis.
See Also: Commercial real estate has historically outperformed the stock market, and<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=stockmarket-yahoo"> 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>
For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).
In summary, income-focused investors may find Antero Midstream stock an attractive option for making a steady income of $100 per month by owning 1,334 shares of stock.&nbsp;
Check out this <a href="https://www.benzinga.com/markets/25/01/43219742/how-exxon-mobil-idacorp-and-amcor-can-put-cash-in-your-pocket">article by Benzinga</a> for three more stocks offering high dividend yields.&nbsp;
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.
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What's more, Alpine Note — Basecamp can be rolled into another Alpine Note for compounding returns, or into another of EquityMultiple's rigorously vetted real estate investments, which also carry a minimum investment of just $5K.<a href="https://www.benzinga.com/go/equitymultiple-yf"> Basecamp is exclusively open to new investors on the EquityMultiple platform.</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.

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Here's How You Can Earn $100 In Monthly Passive Income By Investing In Antero Midstream Stock

President Donald Trump authorized a military operation targeting&nbsp;a high-ranking ISIS leader and&nbsp;his associates in Somalia.
What Happened: Trump announced the successful airstrike, which resulted in the death of multiple ISIS operatives, on his Truth Social network. According to Trump, the operation successfully destroyed the caves where the terrorists were hiding, eliminating many without any civilian casualties.
The primary target of the operation&nbsp;was a senior ISIS attack&nbsp;planner, whose identity and fate have been kept confidential. The airstrikes were carried out in the Cal-Miskaad mountains, located in the Bahaya region of Somalia.
In a post on Truth social, Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113929767736564719">wrote</a>, "This morning I ordered precision Military air strikes on the Senior&nbsp;ISIS&nbsp;Attack Planner and other terrorists he recruited and led in Somalia. These killers, who we found hiding in caves, threatened the United States and our Allies."
"The strikes destroyed the caves they live in, and killed many terrorists without, in any way, harming civilians," Trump wrote adding, "Our Military has targeted this ISIS Attack Planner for years, but Biden and his cronies wouldn't act quickly enough to get the job done. I did!"
"The message to ISIS and all others who would attack Americans is that "WE WILL FIND YOU, AND WE WILL KILL YOU!" Trump said in the post. 
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Secretary of Defense Pete Hegseth&nbsp;confirmed the operation&#8217;s success, stating that it significantly degraded &#8220;ISIS's&nbsp;ability to plot and conduct&nbsp;terrorist attacks threatening US citizens,&nbsp;our partners, and innocent civilians.&#8221;
The Somali president, Hassan Sheikh Mohamud, was briefed about the airstrike and expressed his gratitude for the United States&#8217; unwavering support in the global fight against terrorism.
This operation is a part of a larger initiative to eradicate ISIS. Just last week, local US-allied authorities initiated an operation&nbsp;to clear out 100 hideouts&nbsp;in the Cal-Miskaad cave system.
Why It Matters: The recent airstrike is a significant step in the ongoing fight against ISIS. It not only disrupts the terrorist organization&#8217;s operations but also sends a clear message of the United States&#8217; commitment to combating global terrorism. 
The operation&#8217;s success also signifies the effectiveness of the US&#8217;s strategic partnerships in the region, particularly with the local authorities in Somalia.
Furthermore, the operation underscores the importance of maintaining a strong and proactive defense strategy. By targeting high-ranking ISIS operatives, the US is effectively weakening the organization&#8217;s leadership structure, thereby hindering its ability to plan and execute terrorist attacks.
The airstrikes also demonstrate the US&#8217;s commitment to minimizing civilian casualties in its anti-terrorism operations. This approach not only upholds the principles of humanitarian law but also helps to maintain the local population&#8217;s support, a crucial factor in the long-term success of counter-terrorism efforts.
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Image: Shutterstock

Global

Trump Unleashes Airstrikes on ISIS in Somalia: 'We Will Find You, and We Will Kill You'

China&#8217;s latest artificial intelligence breakthrough has rattled U.S. security experts, with DeepSeek&#8217;s new model demonstrating that Beijing can innovate around American restrictions and potentially reshape the global AI landscape.
The Chinese firm&#8217;s &#8220;reasoning&#8221; model, released during Trump&#8217;s inauguration, matches top U.S. systems while costing a fraction to develop. DeepSeek <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43244653/bitcoin-ethereum-solana-crash-heres-why-chinas-low-cost-ai-model-deepseek-may-be-to-blame">says it spent under $6 million using 2,000 lower-grade chips</a>, compared with Meta Platforms' (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) system requiring 16,000 premium processors.
The cost advantage signals a shift. While U.S. companies spend tens of millions training AI models, Chinese firms have found ways to create competitive systems despite export controls on advanced semiconductors.&nbsp;
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The development threatens America&#8217;s technological edge just as AI becomes critical to military superiority.
&#8220;System destruction warfare&#8221; sits at the heart of China&#8217;s military AI strategy, according to the Center for European Policy Analysis. The approach targets vulnerable links between enemy sensors and platforms, using AI to process battlefield data and identify weak points for precision strikes.
The efficiency gains in Chinese AI development carry broader implications. If good-enough models can be trained cheaply, they will proliferate globally as countries seek technological independence from U.S. systems. The rising cost-per-query may also drive development of specialized AI models optimized for specific tasks.
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&#8220;Even if the industry stays on today&#8217;s track, the widespread adoption of Chinese AI around the world could give the CCP enormous political influence,&#8221; The Economist reported last week, noting that "in the worst case, AI could be as deadly as nuclear weapons.".
Security experts warn that China&#8217;s progress demands a U.S. response beyond export controls. While restrictions on semiconductor sales have slowed Chinese advancement, Beijing&#8217;s ability to innovate around obstacles suggests a more comprehensive strategy is needed.
The <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/01/43253190/deepseek-ai-etfs-take-a-hard-hit-amid">stakes extend beyond military applications</a>.&nbsp;
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As AI capabilities expand, the first nation to achieve superintelligence could gain decisive advantages across all domains. China&#8217;s demonstrated ability to close the AI gap while spending far less has transformed the competition into an asymmetric race where traditional U.S. technological superiority no longer guarantees victory for U.S.-based companies like OpenAI, Anthropic, Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Meta.&nbsp;
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Startups

MSFT

'AI Could Be As Deadly As Nuclear Weapons': How China's Advances Change The Game

A recent call to The Ramsey Show featured a lottery winner who chose to keep his $22 million windfall a secret from nearly everyone, including his teenage children. Financial expert <a href="https://www.benzinga.com/personal-finance/25/01/43278283/36-year-old-inherits-3-5-million-and-asks-dave-ramsey-the-best-way-to-invest-it-i-buy-real-estat">Dave Ramsey</a> agreed with the decision, reinforcing the idea that managing wealth responsibly sometimes means keeping financial matters private.
<h2 class="wp-block-heading">A Life-Changing Win – Kept Under Wraps</h2>
The caller, nearing 50 years old, revealed that he and a group of coworkers had won a multi-state lottery. After taxes, his share came out to around $22 million. Instead of making a grand announcement, he and his wife decided to keep their newfound wealth a secret. Only one sibling was aware of their winnings, and even their children remained in the dark.
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When Ramsey asked why he chose this approach, the caller explained that he had done extensive research on lottery winners. A significant percentage of winners lose their fortunes within a decade, often due to poor financial management and external pressures from friends and family.
<h2 class="wp-block-heading">Avoiding Entitlement and Financial Strain</h2>
One major reason for the secrecy was to prevent their children from becoming financially dependent before learning how to build their own careers and futures. "We just don't want them to grow up to be waiters—you know, waiting for us to die to get our money," the caller stated.
Ramsey and his co-host, John Delony, agreed with this logic. Ramsey laughed and responded, "I love it," while Delony added that he wouldn't tell his teenage children either. The consensus was that keeping the winnings private allows the children to develop their own ambitions and work ethic rather than relying on an inheritance.
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<h2 class="wp-block-heading">A Strategy for Giving Without Questions</h2>
The caller and his wife have also kept the information from extended family members. However, they have still found ways to <a href="https://www.benzinga.com/personal-finance/24/10/41555075/millennials-and-gen-z-rely-on-parents-for-financial-support-survey-finds-its-costing-them-their-">help loved ones financially</a>. When the caller bought a new roof for his mother, he credited an inheritance from a recently deceased relative rather than revealing his lottery win. This strategy helped them provide assistance without raising questions about their financial status.
Ramsey supported this approach, emphasizing that financial privacy can help avoid unnecessary complications. "I like everything you're doing, and it's not anyone else's business," he told the caller.
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<h2 class="wp-block-heading">Smart Financial Management</h2>
Despite having the means to <a href="https://www.benzinga.com/25/01/43201704/can-you-guess-what-it-takes-to-be-wealthy-in-retirement-hint-its-probably-less-than-your-goal">retire comfortably</a>, the caller continues to work because he enjoys his job. He and his wife had already paid off their home before winning and had recently purchased two Toyotas with cash. Even after the windfall, they saw no need to upgrade their lifestyle drastically.
Ramsey praised the caller's decisions, particularly his commitment to financial discipline and long-term planning. The caller said he had assembled a team of financial advisors to help manage his wealth wisely.
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<h2 class="wp-block-heading">The Takeaway: Privacy Can Be a Smart Financial Choice</h2>
This conversation highlights the challenges that come with sudden wealth and the importance of financial discretion. By keeping their winnings private, the caller and his wife have avoided potential strains in their personal relationships while ensuring their children remain motivated to forge their own paths.
For those who come into sudden wealth, whether through a <a href="https://www.benzinga.com/personal-finance/24/10/41335504/billionaire-mark-cuban-warns-when-you-win-the-lottery-never-invest-stick-it-in-the-bank-and-live">lottery win</a>, inheritance, or another windfall, Ramsey's advice remains clear: strategic secrecy can be a tool for financial stability and family harmony.
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Lottery Winner Keeps $22M Secret From Kids – Dave Ramsey Agrees, Saying 'It's Not Anyone Else's Business'

Billionaire Warren Buffett has advised against using credit cards as a piggy bank. He emphasized the importance of paying off high-interest debt.
What Happened: During the Berkshire Hathaway&#8217;s annual shareholder <a href="https://finance.yahoo.com/brklivestream/">meeting </a>in 2021, Buffett shared his personal finance advice and suggested that people should avoid using credit cards as a &#8220;piggy bank to be raided.&#8221;
Buffett shared an anecdote about a friend who had recently come into some money. When she asked for advice on what to do with the funds, Buffett&#8217;s first question was about her credit card debt. 
He stressed the importance of paying off high-interest debt, stating, &#8220;If I owed any money at 18%, the first thing I'd do with any money I had would be to pay it off. I think people should avoid using credit cards as a piggy bank to be raided.&#8221;
&#8220;Because paying it off is gonna be way better than any investment idea that I've got. And that wasn't what she wanted to hear," he added. 
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Buffett pointed out that&nbsp;the average credit card interest&nbsp;rate, according to WalletHub,&nbsp;is around 15% for existing&nbsp;accounts. He asserted that paying off this debt would be more beneficial than any investment idea he could offer.
Why It Matters: Statistics from the Consumer Financial Protection Bureau reveal that by the end of 2018, total credit card balances were around $900 billion. 
With an average debt of about $6,200 per consumer, Buffett&#8217;s advice is more pertinent than ever. The high-interest rates associated with credit card debt can significantly impact an individual&#8217;s financial health. 
Buffett&#8217;s advice underscores the importance of prudent financial management and the need to prioritize debt repayment over other financial decisions.
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Success Stories

Buffett Advises Against Using Credit Cards as a Source of Funds: 'Paying It off Is Gonna Be Way Better Than Any Investment Idea'

Jessica Simpson and her estranged husband, Eric Johnson, relisted their multimillion-dollar Hidden Hills, California, mansion just two days before announcing their separation.
The meticulously designed seven-bedroom, 13-bathroom estate spans 13,274 square feet and was listed on Jan. 11 for $17.9 million – a price reduction of 18.6% from its original listing, according to Page Six, citing online real estate records.
Offering city lights and mountain views, the property first hit the market on Sept. 19, 2023, when Simpson relocated to Nashville. It was withdrawn from the market by Aug. 2, 2024.
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Simpson previously revealed her decision to temporarily move to Nashville that summer was driven by a desire to connect with "like-minded people."
"It's not about the celebrities – it's really about the music and the heart and the conversation," the Jessica Simpson Collection CEO told E! News at the time. She said she was "happy" with the move.
But Simpson and her three children – Maxwell, 12, Ace, 11 and Birdie, 5 – returned to the West Coast in time for the new school year.
Simpson recently told People magazine that she and Johnson had been "living separately" for some time as they worked through their "painful" separation.
"Our children come first and we are focusing on what is best for them," she said. "We are grateful for all the love and support that has been coming our way and appreciate privacy right now as we work through this as a family."
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A source recently told Page Six that Simpson and Johnson had been struggling with "trust issues" that drove a wedge between them.
Reportedly, Simpson had a friend contact Los Angeles-based divorce attorneys in late October, citing unhappiness in her marriage.
It remains unclear whether the couple relisted their marital home to resolve financial matters ahead of finalizing their divorce.
The real estate listing highlights the state's grandeur, noting that the formal dining room "sets the stage for unforgettable dinner parties."
"The heart of this home lies in its state-of-the-art chef's kitchen, where culinary dreams come to life."
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Listing photos reveal unique touches, such as a bathroom with leopard-print wallpaper and framed portraits of music legends like Willie Nelson, Janis Joplin and<a href="https://www.benzinga.com/content/42957095/dolly-parton-expands-her-food-empire"> Dolly Parton.</a>
The estate also features a vibrant music studio and a home gym, which Simpson likely used during her journey to lose <a href="https://www.benzinga.com/general/entertainment/23/07/33142556/jessica-simpson-hits-back-on-ozempic-weight-loss-rumors-i-am-connected-to-myself-it-doesnt-">100 pounds</a>.
"This home offers an unparalleled opportunity to experience the epitome of upscale living in one of the most exclusive communities," the listing states.
Simpson, 44 and Johnson, 45, purchased the home in March 2013, a year before their wedding.
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Real Estate

Jessica Simpson And Eric Johnson's $17.9 Million Mansion Back On Market After Split With Husband

Microsoft co-founder Bill Gates stated he has no plans to downsize from his expansive Lake Washington estate, Xanadu 2.0, despite being the only resident.
What Happened: Gates, 69, is determined to continue living in his 66,000-square-foot compound, which he purchased in 1988 for $2 million. The property&#8217;s current estimated value is over $130 million.
Despite his sisters choosing to downsize, Gates has expressed a strong attachment to his homes, saying, &#8220;I like the houses I&nbsp;have.&#8221; He also highlighted the joy his children get from visiting the vast estate.
According to a report <a href="https://www.thetimes.com/life-style/celebrity/article/bill-gates-interview-new-book-memoir-wh766b9bs">by </a>The UK Times The mansion, Xanadu 2.0, named after the 1941 film &#8220;Citizen Kane,&#8221; is a representation of billionaire luxury, featuring six kitchens, 24 bathrooms, an indoor trampoline room, a private library, and a swimming pool equipped with an underwater music system.
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Gates spent seven years and $63 million on renovations to customize the estate to his liking, transforming it into more than just a home. Despite his ex-wife, Melinda, once describing it as &#8220;a bachelor&#8217;s dream and a bride&#8217;s nightmare,&#8221; Gates sees the mansion as an investment that has significantly appreciated over time.
Similar to Gates, billionaire investor&nbsp;Warren Buffett&nbsp;has also retained&nbsp;his Omaha home for over&nbsp;65 years, highlighting the invaluable memories it contains.
Why It Matters: The decision by Gates to retain his mansion reflects a trend among billionaires to view their homes as more than just property. 
These estates, often filled with personal memories and customized to their tastes, are seen as valuable investments that have significantly appreciated over time. This trend is not limited to Gates, as evidenced by Warren Buffett&#8217;s decision to hold onto his Omaha home for over six decades. 
These homes, often symbols of luxury and wealth, offer a glimpse into the lives of the world&#8217;s richest individuals.
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Social Media

Bill Gates Declines To Downsize From His $130 Million Mega-Mansion: 'I Like The Houses I Have'

President Donald Trump&#8216;s new tariffs are set to affect e-commerce, specifically focusing on a tariff exemption for packages valued under $800 that has been in use by Chinese online retailers for a long time.
What Happened: President Trump&#8217;s executive orders have put forth a 25% levy on Canada and Mexico, and&nbsp;a 10% duty on China. The &#8220;de minimis&#8221; exemption, which allowed packages under $800&nbsp;to enter the US without&nbsp;tariffs, will no longer be applicable. 
This exemption had been a significant boon for Chinese e-commerce retailers who could ship inexpensive goods directly to US consumers, <a href="https://www.bloomberg.com/news/articles/2025-02-02/trump-tariffs-target-loophole-used-by-chinese-online-retailers?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a> Bloomberg.
The full impact of these &#8220;de minimis&#8221; changes remains uncertain. The White House has not provided clarity on whether these changes apply only to the new tariffs or also to existing trade levies. 
Trade lawyers have suggested that the language used by Trump could imply a broader application, potentially affecting existing duties against China, Canada and Mexico.
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Chinese retailers, including&nbsp;Alibaba,&nbsp;JD.com Inc.,&nbsp;PDD Holdings Inc.&#8216;s Temu, and fashion-focused Shein, are likely to feel the most impact from these changes. These companies have been leveraging the &#8220;de minimis&#8221; loophole to avoid tariffs by shipping individual orders directly to customers from China, reports the outlet. 
The new tariffs are scheduled to come into&nbsp;effect at 12:01 am New&nbsp;York time on Tuesday.
Why It Matters: The &#8220;de minimis&#8221; exemption has long been a point of contention in trade discussions, with critics arguing that it provides an unfair advantage to foreign online retailers. The removal of this exemption will level the playing field for domestic retailers who have been struggling to compete with low-cost goods from overseas.
However, this change could also lead to increased costs for US consumers, who have benefited from the availability of inexpensive goods from Chinese online retailers. 
The impact on the e-commerce sector and consumer spending will become clearer once the new tariffs take effect.
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Image: Shutterstock

Trump's Trade Tariffs to Close E-Commerce Loophole Favoring Chinese Online Retailers

In a recent interview with ThinkAdvisor, a senior financial planner with Kitces.com, Ben Henry-Moreland, laid out the <a href="https://www.benzinga.com/topic/taxes">tax planning implications</a> of Donald Trump&#8216;s return to the White House. In short, it&#8217;s now almost guaranteed that the 2017 Tax Cuts and Jobs Act (also known as the Trump Tax Cuts) will be extended past its 2025 sunset.
In fact, in his recent confirmation hearing in front of the Senate, President Trump's nominee for Treasury Secretary, Scott Bessent, said extending the 2017 tax cuts is "the single most important economic issue of the day… If we do not fix these tax cuts, if we do not renew and extend, then we will be facing an economic calamity."
The tax bill included the increase in the exclusion for estate, gift, and generation-skipping transfer tax purposes from $5 million to $10 million (indexed to inflation), the increase in the standard deduction, the reworking of the Alternative Minimum Tax, and more.
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In fact, Henry-Moreland even <a href="https://www.thinkadvisor.com/2024/11/06/what-trumps-win-means-for-estate-tax-planning/">suggests </a>there&#8217;s a chance that the Republican majority in Congress could repeal the estate tax completely, a provision that existed in the original version of the 2017 bill. The one big change that might be in the works is a removal of the state and local tax deduction cap, which is now the one unpopular part of the 2017 tax bill among Republicans.
This suggests clients can be reassured that their estate and tax plans from the last few years don&#8217;t require major overhauls. The federal picture is likely to remain similar, while few states have flipped enough to create a need to move estates and inheritances to other jurisdictions.
But while a second Trump administration means more of the same for taxes, it is heralding some big changes for investments. For one, President Trump&#8217;s nominee for the Securities and Exchange Commission chairmanship, Paul Atkins, looks to be much more crypto-friendly than his famously combative predecessor. Meanwhile, the President&#8217;s media company, Trump Media and Technology Group, recently announced <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43310673/trump-media-technology-group-stock-jumps-on-expansion-into-financial-services">a new crypto venture, Truth.Fi.</a>
And just this week, Fed Chairman Jerome Powell said that banks are &#8220;perfectly able to serve crypto customers as long as they understand and can manage the risks,&#8221; adding that &#8220;a greater regulatory apparatus around crypto [from Congress would be] very constructive.&#8221; That&#8217;s a much more crypto-friendly message than the Fed has historically put out.
The winds in DC are clearly blowing in the favor of cryptocurrencies. Advisors should take note and consider expanding their knowledge about the asset class and offer advice and services for clients interested in the space. To see how one advisor handles crypto, check out our recent interviews with Tyrone Ross Jr. <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/12/42470479/financial-advisor-calls-stocks-dinosaur-bones-but-likes-some-etfs">here</a> and <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/12/42517262/most-crypto-foward-ria-slams-bitcoin-forecasts-from-michael-saylor-others-dis">here</a>.
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In a series of posts on X, former White House Communications Director Anthony Scaramucci urged elected officials to take a stand against what he <a href="https://www.benzinga.com/news/25/01/43217002/scaramucci-questions-trumps-commitment-to-maga-agenda-trump-himself-is-not-maga">termed as the &#8220;crazy nonsense&#8221;</a> of President Donald Trump&#8217;s new tariffs on Canada, China and Mexico.
What Happened: On Sunday, Scaramucci took to X to express his concerns over the tariffs imposed by President Trump. He called for more organized dissent among public servants, emphasizing the need for them to explain the perceived danger.
The tariffs imposed by Trump on Saturday include&nbsp;a 25% duty on all&nbsp;imports from Mexico and most&nbsp;goods from Canada, excluding&nbsp;energy-related items such as crude&nbsp;oil, which will see a 10% tariff. Additionally, a 10% tariff will be levied&nbsp;on Chinese goods imported into&nbsp;the United States.
&#8220;Why isn't there more organized,&nbsp;dissent? Public servants need to&nbsp;explain the danger. It has&nbsp;to be elected officials getting&nbsp;together to stop this sort&nbsp;of crazy nonsense,&#8221; he mentioned.
<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">Why isn't there more organized, dissent? Public servants need to explain the danger. It has to be elected officials getting together to stop this sort of crazy nonsense. A few Republicans could change the course of history and save their own party.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1885839872629354589?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote>
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In a subsequent tweet, Scaramucci suggested that a few Republicans could alter&nbsp;the course of history and&nbsp;save their party. He also hinted at the potential pitfalls of running a government like a business.
Also Read: <a href="https://www.benzinga.com/markets/25/02/43423288/trumps-tariffs-are-here-heres-what-will-get-more-expensive-from-canada-china-and-mexico">Trump&#8217;s Tariffs Are Here. Here&#8217;s What Will Get More Expensive From Canada, China, and Mexico</a> 
&#8220;We are about to learn&nbsp;why a government should never&nbsp;be operated like a business,&#8221; he added.
<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">We are about to learn why a government should never be operated like a business.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1885832933354647990?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have buddies of mine in DC now that used to work in hedge funds or broker dealers on Wall Street and know how ridiculous these tariffs are and they won't say anything. Think about that.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1885841561394516244?ref_src=twsrc%5Etfw">February 2, 2025</a></blockquote>
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Why It Matters: The tariffs, set&nbsp;to take effect on Tuesday,&nbsp;have been met with warnings from economists about potential negative impacts on American businesses and consumers
Scaramucci&#8217;s posts come at a time when political tensions are high. His call for organized dissent suggests a need for change in the current political landscape. 
His comments about the dangers of operating a government like a business could be seen as a critique of certain political ideologies that favor such an approach.
Scaramucci&#8217;s tweets have garnered significant attention, with his comments on government operation receiving over 2.7 million views. This indicates the level of public interest in his views and the broader political discourse.
Read Next
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Image: Shutterstock

Scaramucci Warns Against Trump's Tariffs, Urges Lawmakers To Take Stand: 'Crazy Nonsense'

Elon Musk is on top of the world – literally. With a <a href="https://www.benzinga.com/startups/25/01/43101102/elon-musk-the-richest-man-in-the-world-is-estimated-to-earn-over-23-million-every-single-hour-of-the-day-heres-how-hes-spending-it">net worth over $400 billion</a>, he's the richest person alive, breaking records left and right. And while some analysts think he's on track to become the world's first trillionaire, not everyone agrees.
Back in 2017, Mark Cuban threw out a bold prediction at SXSW. He said, "The world's first trillionaires are going to come from somebody who masters AI and all its derivatives and applies it in ways we never thought of." This wasn't a widely accepted idea at the time – AI was still a buzzword more than a business driver. But now? Cuban looks like he might be onto something.
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Fast forward to today, and AI has gone from niche to everywhere. In 2023, a McKinsey report showed that over 65% of organizations were using AI in some capacity, a huge jump from the 20% figure in 2017. The <a href="https://www.benzinga.com/news/25/01/43219324/chill-and-cut-your-expectations-100x-says-openai-ceo-sam-altman-we-are-not-gonna-deploy-agi-next-month-nor-have-we-built-it">industry itself has exploded</a> into a $196 billion market with a projected annual growth of 36.6%. This isn't just about better chatbots or faster customer service – AI is actively reshaping industries like health care, manufacturing and entertainment.
Take Nvidia, for example. Once just a chipmaker for gamers, it's now the most valuable company in the world, hitting a mind-boggling $3.49 trillion market cap in 2025. Its GPUs are the backbone of generative AI, powering tools like ChatGPT and other cutting-edge technologies. <a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42955116/tesla-embodied-ai-robotaxi-dreams-propel-bullish-sentiment-stock-chart-flashes-mixed-signals">Companies like Tesla</a> and Amazon are also all-in on AI – whether it's powering autonomous cars or optimizing logistics for global operations.
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But Cuban wasn't just talking about today's heavy hitters. His real point was that the trillionaire of tomorrow might be someone we've never even heard of – someone who uses AI in a way nobody has imagined. He painted a picture of a future where AI mastery could unlock impossible opportunities.
He also pointed out that the rise of AI would completely reshape the workforce. Cuban warned, &#8220;<a href="https://www.benzinga.com/personal-finance/25/01/42932626/billionaire-mark-cuban-on-college-costs-pick-the-cheapest-school-you-can-find-its-about-learning-not-prestige">whatever you are studying right now</a>, if you are not getting up to speed on deep learning, neural networks, etc., you lose." He predicted that even jobs like accounting could become fully automated. Instead, he argued that fields like philosophy might become more valuable. Why? Because understanding people, solving complex human problems and applying creative thinking could be just as critical as technical skills in an AI-driven world.
While <a href="https://www.benzinga.com/personal-finance/25/01/42919768/elon-musk-is-the-richest-man-in-the-world-leaving-jeff-bezos-trailing-237-billion-behind-being-buddies-with-trump-likely-driving-surge">Elon Musk and Jeff Bezos</a> are still favorites to hit trillionaire status first, Cuban's idea leaves room for a wild card – a garage inventor or scrappy entrepreneur who finds a way to leverage AI in truly groundbreaking ways. With AI projected to add $19.9 trillion to the global economy by 2030, the stage is set for someone to redefine wealth entirely.
Cuban's prediction? It's no longer just bold – it's starting to look inevitable.
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Mark Cuban Predicts The World's First Trillionaire Won't Be Elon Musk – It'll Be Whoever Can Master Ai 'In Ways We Never Thought Of'

Following President Donald Trump's Saturday <a href="https://www.benzinga.com/markets/25/02/43423087/canada-retaliates-against-trumps-tariffs-with-countermeasures-25-tariffs-on-107-billion-of-us-made-goods">executive order</a> imposing steep tariffs on imports from Mexico, Canada and China, Mexican President <a href="https://www.benzinga.com/markets/cannabis/25/01/42895985/trump-and-mexican-president-sheinbaum-spirited-clash-over-territorial-renaming-tariffs-and-cartels">Claudia Sheinbaum</a> swiftly implemented reciprocal measures.
Sheinbaum instructed Economy Secretary Marcelo Ebrard to activate Mexico's contingency strategy. "To implement Plan B that we have been working on, which includes tariff and non-tariff measures in defense of the interests of our country," she said, <a href="https://www.informador.mx/mexico/Claudia-Sheinbaum-responde-con-aranceles-llama-al-dialogo-a-Trump-20250202-0022.html">according</a> to Spanish language Informador.Mx.
<h2 class="wp-block-heading">Mexico Calls For Dialogue, Rejects Confrontation</h2>
Despite the retaliatory action, Sheinbaum said Mexico was not seeking conflict with the U.S. "Mexico wants shared collaboration between neighboring countries," she said, urging Trump to establish a dialogue to formulate a cooperative strategy. The goal, Sheinbaum said, is to jointly tackle <a href="https://www.benzinga.com/markets/cannabis/24/07/39977603/merrick-garland-confirms-arrest-of-mexicos-sinaloa-cartel-leader-and-son-of-infamous-el-chapo-gu">organized crime</a> and <a href="https://www.benzinga.com/markets/cannabis/23/07/33172948/fentanyl-and-cartel-drug-trafficking-treasury-official-heads-to-mexican-border-to-meet-officials">fentanyl trafficking</a>, issues central to Trump's rationale for the tariff increase on Mexico.
"It is not with the imposition of tariffs that problems are solved, but by talk and dialogue as we did in recent weeks with your State Department," Sheinbaum said directly to Trump. She noted that Trump's own data on reduced migration stemmed from figures provided by the Mexican government.
<h2 class="wp-block-heading">Who Will Suffer Most? </h2>
Mexico relies heavily on trade with the U.S., with over 80% of its exports &#8211; cars, machinery, produce and medical equipment &#8211; heading north, making up 15% of total U.S. imports, <a href="https://www.cfr.org/article/what-trumps-trade-war-would-mean-nine-charts">noted</a> the Council on Foreign Relations. This dependence is strongest in several northern industrial states, which account for nearly half of Mexico's U.S.-bound exports, valued at over $200 billion annually.
The tariffs could shrink Mexico's GDP by 16%, <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43398182/trumps-25-tariffs-could-slaughter-canada-mexico-economies-hit-us-auto-industry-analysts-warn">hitting the auto industry hardest</a>, as 80% of Mexico's 2.5 million car exports go to the U.S. The energy sector would also suffer, with the U.S. receiving 60% of Mexico's crude oil exports while supplying over 70% of Mexico's refined fuel. Tariffs could drive up fuel costs, straining Mexico's economy.
In terms of the auto industry, the U.S. imports more from Mexico and Canada than any other sector, <a href="https://www.wsj.com/business/autos/tariff-threat-canada-mexico-prompts-automakers-to-find-new-suppliers-consider-higher-prices-13930394">according</a> to the Wall Street Journal. That would be about $147 billion in passenger vehicles and auto parts from Mexico in 2023 and nearly $60 billion from Canada.&nbsp;
Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), for starters, both have manufacturing operations in Mexico that produce vehicles and components for the U.S. market and rely on Mexican facilities for assembling various car models and parts.
So, to answer the question of who will suffer most: "Mexico faces a condition of extreme weakness, since the economy did not close well last year," said Miguel Landeros, president of the Mexican Council of Foreign Trade, per the Mexican newspaper.
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Jensen Huang, the CEO of Nvidia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), has revealed that he uses AI chatbots to create initial drafts.
What Happened: Huang, who leads a company known for producing high-performance&nbsp;computer chips that power AI&nbsp;large language models, uses a&nbsp;variety of chatbots, including&nbsp;Google&#8217;s Gemini and OpenAI&#8217;s ChatGPT.&nbsp;
&#8220;I give it a basic outline, give it some PDFs of my previous talks, and I get it to write my first draft,&#8221; CNBC quoted Huang sharing <a href="https://www.cnbc.com/2025/01/31/nvidia-ceo-jensen-huang-i-use-ai-chatbots-to-write-my-first-drafts.html">at</a> a recent Wired event. He added saying, &#8220;It's really fantastic.&#8221;
A study indicates that the most prevalent uses&nbsp;of chatbots across all job&nbsp;levels are idea generation, information consolidation, and basic task automation. 
Also Read: <a href="https://www.benzinga.com/tech/24/11/41869577/nvidias-huang-sees-ai-employees-on-the-horizon">Nvidia&#8217;s Huang Sees AI Employees On The Horizon</a>
However, experts advise using AI&nbsp;more as a research and&nbsp;brainstorming tool due to occasional inaccuracies in chatbot responses.
Despite recent challenges, Nvidia continues to be a significant player in the AI industry. Huang anticipates that humans will soon collaborate with AI &#8220;agents,&#8221; which could join the workforce as early as this year, according to a blog post by Altman.
Why It Matters: The use of AI chatbots by industry leaders like Huang highlights the growing acceptance and integration of AI in everyday tasks.
This trend is expected to continue as AI technology improves and becomes more accessible.
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As we wrap up another eventful week, the headlines were dominated by President Donald Trump&#8216;s tariff decisions, the Federal Reserve&#8217;s interest rate moves, and billionaire investor Ray Dalio&#8216;s take on America&#8217;s debt crisis. Let&#8217;s dive into the top stories that shaped the market landscape.
Trump Imposes 25% Tariffs on Canada, Mexico&nbsp;&#8211; The week kicked off with President Trump confirming the imposition of 25% tariffs on imports from Canada and Mexico starting February 1. The move is a response to concerns over illegal immigration, trade deficits, and fentanyl trafficking from both countries. The U.S. imported $429.6 billion in goods from Canada and $480 billion from Mexico in 2023, making Mexico the largest U.S. trading partner in terms of imports.&nbsp;<a href="https://www.benzinga.com/government/regulations/25/01/43353698/trump-slaps-25-tariffs-on-canada-mexico-loonie-peso-slide-oil-climbs">Read the full article here.</a>
Trump&#8217;s Potential Tariffs on Colombia Stir Inflation Worries&nbsp;&#8211; President Trump&#8217;s announcement of potential 50% tariffs on Colombian imports has sparked fresh inflation concerns. Rep. Alexandria Ocasio-Cortez criticized the proposed tariffs, arguing they would exacerbate inflation for working-class Americans. The tariff threat came after Colombia&#8217;s President Gustavo Petro denied entry to two U.S. repatriation flights carrying Colombian migrants.&nbsp;<a href="https://www.benzinga.com/news/25/01/43220073/trump-is-about-to-make-americans-pay-even-more-for-coffee-to-punish-colombia-says-aoc-he-is-all-about-making-inflation-worse">Read the full article here.</a>
Fed Holds Interest Rates Steady&nbsp;&#8211; The Federal Reserve decided to keep interest rates unchanged at its Wednesday meeting, ending a streak of three consecutive rate cuts that began in September. The federal funds rate remains in a target range of 4.25% to 4.5%.&nbsp;<a href="https://www.benzinga.com/25/01/43316048/fed-holds-interest-rates-steady-halts-streak-of-consecutive-cuts-as-inflation-remains-elevated">Read the full article here.</a>
Trump Criticizes Fed&#8217;s Handling of Inflation&nbsp;&#8211; Following the Fed&#8217;s decision to hold interest rates steady, President Trump criticized the Federal Reserve's handling of inflation and banking regulation. Trump pledged to combat inflation through expanded energy production and regulatory cuts if elected.&nbsp;<a href="https://www.benzinga.com/markets/25/01/43325490/trump-slams-feds-terrible-job-on-bank-regulation-after-rate-hold-vows-to-unleash-lending-for-all-american-people">Read the full article here.</a>
Ray Dalio Proposes &#8216;3% Solution&#8217; to Tackle America&#8217;s Debt Crisis &#8211; Billionaire investor Ray Dalio called for urgent measures to address the mounting U.S. federal debt crisis. He proposed reducing the deficit to 3% of gross domestic product from its current level of nearly 7%. The U.S. federal debt has surged to $36.4 trillion against a GDP of $29.1 trillion. <a href="https://www.benzinga.com/news/25/01/43328856/ray-dalio-backs-trumps-interest-rate-cut-proposes-3-solution-to-tackle-36-trillion-americas-debt-crisis">Read the full article here.</a>
Image via 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/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a>

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