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By <a href="https://www.benzinga.com/author/todd-harrison" target="_blank" rel="noreferrer noopener">Todd Harrison</a> via <a href="https://substack.com/@toddharrison" target="_blank" rel="noreferrer noopener">Cannabis Confidential</a> (July 27)
History was made Thursday when <a href="https://karate.com/en/how-to-watch">Karate Combat 48</a> arrived in Nashville, Tennessee.
I had never been to an MMA event—or to Nashville, for that matter—but as a fight and music fan, I was eager to check those boxes off my bucket list.
I reached out to a buddy from high school who now lives in Florida to see if he would like to meet me there, which was exactly what happened late Wednesday; and after a few hours of acclimating to the Music City, Paul and I were ready for fight night.
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Why this fight, and what sorta history, you ask? Our portfolio company Horticulture, which owns the <a href="https://tempters.us/">Cure Brand and Tempters</a>, was one of the top sponsors of the event, which was the first THC sponsorship of a professional sports league, the first time THC was sold at a Tennessee arena, and the first time that cannabis and crypto—the other top sponsors—have <a href="https://karate.com/news/horticulture-co-and-karate-combat-announce-strategic-beverage-partnership">combined forces</a>.
I'm not a crypto guy, but I've been watching the industry evolve as an emerging asset class. In fact, I remember sitting on a MarketWatch panel over ten years ago talking about the potential for Bitcoin as I dug into the cannabis space. I felt better about the latter, <a href="https://toddharrison.substack.com/p/brokedown-palace-e28">given my experiences</a>; we know what happened next.
<ul>
<li><a href="https://substack.com/@toddharrison" target="_blank" rel="noreferrer noopener">Click here</a> to get Cannabis Confidential delivered to your inbox daily.</li>
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<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3988c52c-7be3-435e-a783-650c8ae39b88_1179x1819.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3988c52c-7be3-435e-a783-650c8ae39b88_1179x1819.jpeg" alt="IMG_7858.jpg" title="IMG_7858.jpg" /></a></figure>
The irony of these streams again crossing ten years later wasn't lost on me. We talk about the opportunity cost of the canna trade and there is no better example than crypto—and their community was out in force at the Nashville conference.
Security was tight. The Secret Service surveilled the area and TSA-on-steroids patted us down as we entered the arena. They were thorough too, (hypothetically) finding a (hypothetical) Big Dog in one pocket, a (hypothetical) Sunburn vape in another…
…which made it more surreal when, after entering the arena, we were encouraged to consume as many Tempter's THC-infused drinks as we could swallow.
I eschewed booze for canna drinks a year ago but this was different—it was in public and in a red state, no less. As I absorbed the dichotomy, Paul pulled at me and said, "hey, you wanna do this," so I did, not knowing what this was, which is when I met Hailey, better known as the "Hoch Tuah Girl," for reasons I'll let you <a href="https://www.thecut.com/article/hawk-tuah-girl-viral-tiktok-video-explained.html">research yourself.</a>
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7602a3f5-953e-4eb2-8842-3b8b9b560b1b_1920x1803.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7602a3f5-953e-4eb2-8842-3b8b9b560b1b_1920x1803.jpeg" alt="IMG_7865.jpg" title="IMG_7865.jpg" /></a></figure>
Hoch Tuah Hailey Welch
We made our way to the pit, where I felt a bit like Luke Skywalker must have felt the first time he walked into the Cantina. I was fascinated by the personalities that surrounded me, many of them young and happy, all of them seemingly wealthy.
I chatted up <a href="https://twitter.com/chooserich">a friendly fella named Nick</a> who told me who the players that were seated around us were, from Brock Pierce in an orange fedora to Charlie Lee…
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F13efb1dd-8cc6-4f7d-b876-50aaf19bf68e_1216x2579.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F13efb1dd-8cc6-4f7d-b876-50aaf19bf68e_1216x2579.jpeg" alt="IMG_7897.jpg" title="IMG_7897.jpg" /></a></figure>
…to this guy, who reminded my old ass of Daft Punk and that guy wearing a $500K diamond necklace, which I was told would be auctioned over the weekend.
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A bedazzled Johnny Dang
It was sensory overload, but I did pick up a few themes. For starters, I didn't hear one person mention hemp-based cannabinoid drinks. I did, however, hear everyone rave how much they loved the cannabis drinks—almost as if it were the same plant (it is).
We've talked about the <a href="https://toddharrison.substack.com/p/the-battle-of-botanical-cousins">Hemp Wars</a>, and how interesting a case study it will be: one industry has ground through every impediment imaginable to reach $40B annual revs and the other slipped through a Farm Bill loophole and grew to the same size—with some states retrofitting regulations as others banning intoxicating hemp altogether.
All the while, cannabis remains a Schedule I narcotic, deemed worse than fentanyl.
The Tennessee crowd didn't seem to care either way, with the (hypothetical) exception of law enforcement, which demonstrates how <s>f&#x2A;cked up</s> incongruent this construct is.
<a href="https://toddharrison.substack.com/p/feds-release-marijuana-documents">The U.S. government already told us</a> that cannabis is healthier for us than alcohol—is it too much to ask to have Tempters and our (hypothetical) Big Dogs too?
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8b40dd89-8bf1-4c66-b924-af5ab1c96686_1920x1440.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8b40dd89-8bf1-4c66-b924-af5ab1c96686_1920x1440.jpeg" alt="IMG_7878.jpg" title="IMG_7878.jpg" /></a></figure>
UFC legends Ben Askren and Kenny Florian
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16X MMA Grand Slam Champion (and nice person) Cris Cyborg
The reason for the Secret Service was revealed when RFK Jr. arrived. I'm pretty sure he would agree that canna is part of the societal solution but I didn't get a chance to ask.

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I don't have the sea legs I used to so by the time the fights ended at 11:30 (12:30 ET), I was gassed—but Tempter's was hosting the after-party and we couldn't be rude.
"We'll show face, shake hands and then get some sleep," I said to Paul, who also had an early flight, as we made our way to Broadway after a pit-stop for pizza.
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc5322fe-2e4b-412c-b96a-427701632ad3_1920x1440.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc5322fe-2e4b-412c-b96a-427701632ad3_1920x1440.jpeg" alt="IMG_7955.jpg" title="IMG_7955.jpg" /></a></figure>
If I'm being honest, I doubt I woulda been at The Valentine if I were still drinking—but I dropped booze, thanks largely to Tempter's (true story). Still, it was good to step out of my comfort zone and connect with stakeholders and influencers outside my orbit.
Tempter's newest brand ambassador Ne-Yo was there, hydrating himself before he hits the road for <a href="https://www.stubhub.com/ne-yo-tickets/performer/145495?PCID=PSUSADWHOMNEYOHEAD80C81C8&amp;MetroRegionID=&amp;psc=&amp;psc=&amp;ps=&amp;ps_p=0&amp;ps_c=21117453570&amp;ps_ag=166992205384&amp;ps_tg=kwd-297070566184&amp;ps_ad=704087177172&amp;ps_adp=&amp;ps_adp=&amp;ps_fi=&amp;ps_fi=&amp;ps_li=&amp;ps_li=&amp;ps_lp=9004570&amp;ps_n=g&amp;ps_d=c&amp;ps_ex=&amp;pscpag=&amp;gcid=C12289X486&amp;utm_source=google&amp;utm_medium=paid-search&amp;utm_sub_medium=prospecting&amp;utm_term=nb&amp;utm_campaign=21117453570%3Adefault&amp;utm_content=default&amp;keyword=166992205384_kwd-297070566184_c&amp;creative=704087177172&amp;utm_kxconfid=s2rshsbmv&amp;kwt=nb&amp;mt=e&amp;kw=neyo+tour&amp;gad_source=1&amp;gclid=Cj0KCQjwtZK1BhDuARIsAAy2VztQ1BlniZGvcKW77Zv6xdAMqBMMpyZxr0DRThUlWblVfIHK9lilnPAaAsAfEALw_wcB">his latest tour…</a>
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As was Young Buck, not to be confused with old money.
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F643e972c-db3c-47e2-9467-14ae6414f001_1440x1920.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F643e972c-db3c-47e2-9467-14ae6414f001_1440x1920.jpeg" alt="IMG_7958.jpg" title="IMG_7958.jpg" /></a></figure>
Young Buck
"These drinks aren't replacing cannabis," I said, more than once, "they replace alcohol—at 5 calories a can—and is an introduction to cannabinoids that opens the door to a deeper, more meaningful relationship with the plant."
But don't take my (our) word for it, <a href="https://tempters.us/">find out for yourself</a>. "TODD24" will slice 25% off your first purchase and "TODD" is good for 20% after that, which is the same discount that I get, and the getting is good ($4/can when ordering a case).
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc206630a-9540-4569-8ee7-052dae5f1744_1100x1031.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc206630a-9540-4569-8ee7-052dae5f1744_1100x1031.jpeg" alt="(19) Editing Canna, Crypto &amp; Karate Combat - Substack.jpeg" title="(19) Editing Canna, Crypto &amp; Karate Combat - Substack.jpeg" /></a></figure>
We're gonna have a busy stretch <a href="https://toddharrison.substack.com/p/jump-ball">through the election</a> w a <a href="https://toddharrison.substack.com/p/tall-task">shit-ton of uncertainties</a> along the way but one thing seems abundantly clear: as our democracy dithers, canna consumption continues to manifest as the political elders age out and now, even the cool kids are paying attention.
Have a safe journey and please <a href="https://joelpollack.com/">enjoy responsibly</a>.
If you'd like to help Mission [Green] change federal cannabis policies, please <a href="https://www.projectmissiongreen.org/donate">click here.</a>
CB1 has positions in / advises some of the companies mentioned and nothing contained herein should be considered advice.
This article is from an external unpaid contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.
Photo by <a href="https://unsplash.com/@drew_hays?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Drew Hays</a> on <a href="https://unsplash.com/photos/people-walking-beside-whiskey-beer-saloon-building-at-daytime-WbbVwVPD2ZM?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Unsplash</a>

Cannabis

Cannabis, Crypto And Karate Combat: Nashville Hits The Trifecta

Well-known entrepreneur and TV personality <a href="https://www.benzinga.com/real-estate/24/07/39928069/kevin-oleary-sees-no-end-to-soaring-home-prices-its-a-new-america">Kevin O'Leary</a> recently spoke on Fox News about taxing the rich in response to a caller stating, "I just want an America where I have the chance to pay less in taxes than people like Kevin O&#8217;Leary." O'Leary expressed concerns about the political rhetoric that targets successful entrepreneurs and the potential repercussions of consequential policies on the American economy.&nbsp;
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O'Leary stated that he doesn't want to talk about an exclusive club of wealthy people – that's not what this is about. Instead, he says thinking about America as an entrepreneurial economy would be better. "We reward entrepreneurship," he said. "We reward men and women that take risks to start businesses in their basement and create hundreds of thousands and millions of jobs."
He mentioned that other successful entrepreneurs like Jeff Bezos and Elon Musk should not be penalized for their achievements. "Do you want to punish them for their success? Is that what America has become? Let&#8217;s punish our entrepreneurs? No! They pay their fair share and percentage of taxes. They abide by the tax laws. And they create jobs."
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Diving further into entrepreneurs&#8217; unique challenges, O'Leary explained that many don't draw salaries and instead reinvest their earnings into growing their businesses. "We don&#8217;t make any money because we&#8217;re taking it all and putting it into companies and starting to grow them. And we get capital gains. Now, if you don&#8217;t like capital gains tax, you want to increase it and become very uncompetitive. Entrepreneurs will take their money somewhere else. And foreign investors will also go somewhere else."
Many others do not share O&#8217;Leary&#8217;s sentiments, particularly those not part of the billionaire class. Oxfam America, a nonprofit dedicated to fighting inequality and injustice, firmly believes that billionaires don't pay their fair share in taxes. On their website, Oxfam cited studies that revealed the wealthiest 400 billionaire families in the U.S. paid an average federal individual tax rate of 8.2%, while the average American taxpayer paid 13% in 2021.&nbsp;
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"That's not paying your fair share," Oxfam wrote. "Instead of rewarding wealth over work, our tax system should ensure that billionaires play by the same set of rules as the rest of us. It's good for the planet, and it's essential to the preservation of our democracy."
It's not just the lower class and "poorer" citizens that want increased taxes for the wealthy, though. <a href="https://www.benzinga.com/personal-finance/24/07/39657043/bill-gates-wants-to-pay-more-in-taxes-ive-been-disproportionately-rewarded-while-many-others-who">Bill Gates</a> has even advocated for higher taxes on the rich, including himself.&nbsp;
The disparity about the fairness of the U.S. tax system may likely never be settled. Advocates for higher <a href="https://www.benzinga.com/personal-finance/24/07/39738421/were-high-income-americans-really-paying-91-income-tax-in-the-1950s">taxes on the rich</a> argue that a more progressive tax system is essential for bridging the gap between the rich and the poor and providing better support for health care and education. On the other hand, O'Leary argues that excessive taxation could stifle innovation and entrepreneurship, which are crucial to the American economy.&nbsp;
As policymakers navigate these complex issues, it&#8217;s important to consider the potential impacts on all segments of society, from entrepreneurs and investors to everyday workers and taxpayers.
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"Bashing The Rich Is Not What America's About," Kevin O'Leary Says of Increasing Taxes For The Wealthy

Former President Donald Trump advocated for a strategic national crypto stockpile at a recent Bitcoin Conference. He assured that if he were to return to the presidency, the U.S. government <a href="https://www.benzinga.com/news/24/06/39565763/as-trump-prepares-for-comeback-latest-pew-poll-reveals-which-presidential-candidate-rest-of-world-pr">would retain its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings.</a>
What Happened: Trump made the proposal during his keynote speech at the Bitcoin Conference in Nashville on Saturday.
The former president&#8217;s remarks come in the midst of the 2024 presidential race, where the campaign for America&#8217;s frontline fintech adopters is gaining traction. 
Trump&#8217;s proposal to retain the U.S. government&#8217;s current Bitcoin holdings appears less radical compared to other proposals presented at the conference, as <a href="https://www.cnbc.com/2024/07/27/trump-bitcoin-conference-harris.html">per</a> CNBC.
"For too long our government has violated the cardinal rule that every Bitcoiner knows by heart: Never sell your Bitcoin," Trump said at the conference during his keynote speech.
"This afternoon I'm laying out my plan to ensure that the United States will be the crypto capital of the planet and the Bitcoin superpower of the world and we'll get it done," he added.
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During the crypto event, Robert F. Kennedy Jr., a third-party candidate, pledged to establish a reserve of 4 million Bitcoin, starting with the U.S. government&#8217;s current Bitcoin holdings from criminal seizures. 
Meanwhile, Sen. Cynthia Lummis (R-Wy.), proposed to accumulate an official U.S. federal reserve of 1 million Bitcoin over five years.
Trump criticized President Joe Biden and Vice President Kamala Harris administration&#8217;s approach to cryptocurrency and Bitcoin, stating, &#8220;The Biden-Harris administration&#8217;s repression of crypto and Bitcoin is wrong and it&#8217;s very bad for our country.&#8221;
He also pledged to form a &#8220;Bitcoin and crypto presidential advisory council&#8221; and vowed to dismantle what he termed the &#8220;anti-crypto crusade&#8221; of Biden and Harris.
Why It Matters: Trump&#8217;s stance on Bitcoin has seen a significant shift since his tenure in the White House, where he dismissed Bitcoin and other cryptocurrencies.
His recent endorsement for the digital currency aligns with the Republican Party&#8217;s pledge to remove the Biden-Harris administration&#8217;s regulatory hurdles, turning crypto regulation into a pivotal voting issue for the upcoming November elections.
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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Trump Aims To Make US 'Crypto Capital Of The Planet': 'We'll Get It Done'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and the union representing its retail workers in Towson, Maryland, have reached a preliminary labor agreement. This marks the first time <a href="http://Apple's Market Share Drops In China, A18 Chip Integration To Bring AI Features To iPhone 16 And More: This Week In Appleverse">the tech giant</a> has entered into such a deal in the United States.
What Happened: As reported by <a href="https://www.cnn.com/2024/07/27/business/apple-union-labor-agreement/index.html">CNN</a>, the preliminary labor agreement was finalized late Friday. This is a first not only for an Apple store but also for any of the company&#8217;s U.S. workers.
The retail employees at the Towson Apple store became members of the International Association of Machinists union in June 2022 and have been negotiating their first contract since then. In May, they authorized a strike without setting a deadline.
The labor agreement, still pending ratification by a vote of the 85 rank-and-file members at the store, is a significant breakthrough. Other high-profile union organizing efforts, including those at Starbucks and Amazon, have not yet resulted in deals for their workers.
See Also: <a href="https://www.benzinga.com/news/24/07/39984404/apple-joins-meta-and-google-pledges-support-for-bidens-ai-regulations">Apple Joins Meta And Google, Pledges Support For Biden&#8217;s AI Regulations</a>
The Machinists union disclosed that the Apple store agreement includes scheduling enhancements for improved work-life balance and a 10% pay increase over the three-year contract. It also offers job protections like severance packages for laid-off workers and limits on contract employees.
Apple, which operates around 270 stores in the United States, has only one other store in Oklahoma City that has voted to unionize, joining a different union, the Communications Workers of America. However, this store is not included in the current tentative labor agreement.
An Apple spokesperson refrained from commenting on the tentative agreement, referring to a previous statement where the company expressed its deep appreciation for its team members and pride in offering them industry-leading compensation and exceptional benefits.
Why It Matters: This preliminary labor agreement is a significant milestone for Apple and its US retail workers. It sets a precedent for future labor negotiations and could potentially influence other tech companies to follow suit. The deal also highlights the increasing power and influence of unions in the tech industry, a sector that has traditionally been resistant to unionization. The outcome of the ratification vote by the Apple store workers will be keenly watched by industry observers.
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</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Tech

General

AAPL

Apple Makes History With First US Union Labor Agreement

Celebrity opulence knows no bounds, as evidenced by the sky-high price tags of their homes.
From sprawling French châteaus to modern Malibu mansions, a recent study by The Perfect Rug ranked the most expensive celebrity houses based on the house cost and property size.
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The home of tech mogul Bill Gates, the wealthiest person on the list with a net worth of about $130 billion, ranks as the third-most expensive house. The billionaire investor and philanthropist also is the<a href="https://www.benzinga.com/real-estate/24/07/39797332/bill-gates-owns-275-000-acres-of-u-s-farmland-his-answer-to-why-hes-buying-so-much-of-it-might-surpr"> largest private farmland owner</a> in the United States, holding 275,000 acres across the country.
Brad Pitt and Angelina Jolie's $225 million house in Correns, France, tops the list. The couple, with a combined net worth of $400 million, purchased the 35-room house on 1,200 acres in 2008.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Celebrity</td>
<td>Place</td>
<td>House cost</td>
<td>House size</td>
<td>Property size</td>
<td>Net worth</td>
<td>Year</td>
</tr>
<tr>
<td>Brad Pitt/ Angelina Jolie</td>
<td>Correns, France</td>
<td>$225M</td>
<td>35 rooms</td>
<td>1,200 acres</td>
<td>$400M</td>
<td>2008</td>
</tr>
<tr>
<td>Beyonce/Jay-Z</td>
<td>Malibu, California</td>
<td>$190M</td>
<td>40,000 sf</td>
<td>8 acres</td>
<td>$600M/$2.5B</td>
<td>2003</td>
</tr>
<tr>
<td>Bill Gates</td>
<td>Medina, Washington</td>
<td>$130M</td>
<td>66,000 sf</td>
<td>10.5 acres</td>
<td>$129.8B</td>
<td>1988-2009</td>
</tr>
<tr>
<td>Oprah Winfrey</td>
<td>Montecito, California</td>
<td>$101M</td>
<td>23,000 sf</td>
<td>66 acres</td>
<td>$3B</td>
<td>2001</td>
</tr>
<tr>
<td>George Lucas</td>
<td>Marin County, California</td>
<td>$100M</td>
<td>317,000 sf</td>
<td>4,700 acres</td>
<td>$5.3B</td>
<td>1978</td>
</tr>
<tr>
<td>George Clooney</td>
<td>Lake Como, Italy</td>
<td>$100M</td>
<td>7,354 sf</td>
<td>&nbsp;&#8211;</td>
<td>$500M</td>
<td>2002</td>
</tr>
<tr>
<td>Cher</td>
<td>Malibu, California</td>
<td>$85M</td>
<td>12,450 sf</td>
<td>1.73 acres</td>
<td>$360M</td>
<td>2022</td>
</tr>
<tr>
<td>The Weeknd</td>
<td>Bel Air, Los Angeles</td>
<td>$70M</td>
<td>33,000 sf</td>
<td>1.6 acres</td>
<td>$300M</td>
<td>2021</td>
</tr>
<tr>
<td>Tom Cruise</td>
<td>Telluride, Colorado</td>
<td>$59M</td>
<td>10,000 sf</td>
<td>320 acres</td>
<td>$600M</td>
<td>1990s</td>
</tr>
<tr>
<td>Adele</td>
<td>Beverly Hills, California</td>
<td>$58M</td>
<td>21,000 sf</td>
<td>&nbsp;&#8211;</td>
<td>$220M</td>
<td>2022</td>
</tr>
</tbody>
</table>
</figure>
Source: The Perfect Bug
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
<a href="https://www.benzinga.com/general/23/09/34693531/oprah-winfrey-made-a-62-million-profit-on-high-profile-investment-and-you-dont-need-to-be-a-billiona">Oprah Winfrey's</a> Montecito, California, home comes in fourth at $101 million. Purchased in 2001, the 23,000-square-foot property sits on 66 acres. Montecito is a popular locale for luxury real estate, as evidenced by its multiple appearances on the list.
George Lucas's Skywalker Ranch holds the fifth position and the title of the largest property. Initially purchased in 1978, the ranch has expanded to 317,000 square feet on 4,700 acres – more than four times the size of Gates's estate.
George Clooney's Italian Lake Como mansion is sixth in price, sharing the $100 million price tag with Skywalker Ranch. Bought in 2002, the property, featured in "Ocean's Twelve," is a fraction of Clooney's $500 million net worth.
Tom Cruise's Colorado ranch claims ninth place at $59 million. One of the few non-California entries, the ranch spans 320 acres.
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Real Estate

From Bill Gates To Oprah Winfrey: The Most Lavish Celebrity Homes Revealed

The United States is favored to win the most medals — and gold medals — at <a href="https://drupal-cloudfront.benzinga.com/topic/2024-summer-olympics">the 2024 Summer Olympics</a>.
And the U.S. men's basketball team could bring home one of those gold medals.
What Happened: The <a href="https://www.benzinga.com/general/sports-betting/24/07/39678086/bronny-james-to-win-nba-rookie-of-the-year-summer-league-debut-not-scaring-away-bettors-he">balance of international players</a> in the National Basketball Association in recent years could be a key topic at the Olympic Games, which take place from <a href="https://www.benzinga.com/general/sports-betting/24/07/39989579/6-stocks-going-for-gold-during-2024-summer-olympics-biggest-event-in-company-history">July 26 through Aug. 11</a>.
Back in 1992, only nine NBA players were featured on teams the U.S. Men's Basketball team played against. 
At the 2024 Olympics, the figure <a href="https://x.com/HoHighlights/status/1815743319529464011">jumps </a>to 61.
Team USA has one of its best-ever basketball teams for the Olympics. Observers are drawing comparisons to the 1992 Olympic gold medal-winning squad known as the "Dream Team."
The 2024 team is led by LeBron James, competing in his fourth Olympics, and Steph Curry, who will compete in his first Olympics.
The 1992 Olympics team was led by Michael Jordan and featured many all-time greats of the NBA of the 1990s. The team went undefeated during the Olympics, winning games by an average of 44 points. The Dream Team's closest game was a 32-point victory over Croatia in the gold medal game.
Team USA has won 16 gold medals, one silver medal and two bronze medals at the Summer Olympics, including four straight gold medals.
But in recent years, Team USA has struggled on the international stage, including no medals won at the 2019 and 2023 FIBA World Cups. The recent performance led to more NBA stars, including Curry, willing to play in this year's Olympics.
Team USA won its tune-up games before the Olympics started, but done so with lower point margins than many fans and sportsbooks predicted.
This includes USA beating South Sudan by only one point, a team it was favored to beat by 41.5 points. USA also beat Germany by only four points in a game it was favored by 15.5 points in.
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Olympic Schedule: Team USA is part of Group C at the 2024 Summer Olympics and will play three games in the group stage against the other group teams, who are Serbia, Puerto Rico and South Sudan.
Below is the current <a href="https://www.usab.com/teams/5x5-mens-olympics/schedules">schedule </a>for Team USA and which Comcast Corp-owned (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) channel the games will air (all games will stream on Peacock as well):
<ul>
<li>July 28: vs. Serbia 11:15 a.m. ET on NBC</li>
<li>July 31: vs. South Sudan 3 p.m. ET on USA</li>
<li>Aug. 3: vs. Puerto Rico 11:15 a.m. ET on NBC</li>
</ul>
Team USA will continue advancing if they finish in first or second in the group stage. The top two third-place teams from the group stage will also advance to the quarterfinals.
The gold medal game will be played on Aug. 10 at 3:30 p.m. ET.
Betting Odds: Team USA is the heavy betting favorite to take home the gold medal at the 2024 Summer Olympics, but the tournament features many teams with NBA players.
Canada's roster includes 10 NBA players, including Shai Gilgeous-Alexander. France features several NBA players including reigning Rookie of the Year Victor Wembanyama. Serbia also features Nikola Jokic, who has won three of the last four NBA MVP awards.
Here are the current favorites to win the gold medal in Men's Basketball, as reported by sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>):
<ul>
<li>USA: -500</li>
<li>Canada: +1,100</li>
<li>France: +1,200</li>
<li>Serbia: +1,600</li>
<li>Greece: +2,000</li>
<li>Germany: +3,000</li>
</ul>
A $100 bet on Team USA to win gold would pay out a profit of $20 if they are champions during the 2024 Summer Olympics.
Team USA has odds of -1,800 to win Group C and odds of -3,500 to win a medal.
Bettors can also bet on which player on Team USA will have the most points, rebounds and assists in the tournament and several other prop markets. LeBron and Curry are the co-favorites at +300 to lead USA in points.
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Image: Shutterstock

Sports Betting

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USA Men's Basketball Team Heavily Favored In 2024 Summer Olympics: Can LeBron James, Steph Curry And Team Live Up To Dream Team Comparisons?

In a recent <a href="https://youtu.be/36cvblilqe8?si=XWKt14BKCVhrpx40&amp;t=2081">interview</a>, <a href="https://www.benzinga.com/fintech-awards/anthony-scaramucci?">Anthony Scaramucci</a>, founder of SkyBridge Capital and former White House Communications Director, shared his thoughts on the chaotic state of American politics and its impact on the financial markets. Known for his candid insights, Scaramucci didn&#8217;t hold back in his assessment.
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<h2 class="wp-block-heading">Markets Thrive on Chaos</h2>
Scaramucci kicked off by highlighting an unexpected market sentiment. &#8220;The markets like sh&#x2A;t shows,&#8221; he said bluntly. He explained that financial markets actually thrive on chaos and split governments, appreciating the inertia that often comes with such scenarios. &#8220;I think the FED has generally done a good job. The markets absorb the pain of 2022 and the rate hikes,&#8221; he added.
He argued that the Federal Reserve (FED) is still the primary driver of market dynamics: &#8220;Ultimately, this is still a Fed-driven market.&#8221; He also suggested that regardless of who wins the next election, the markets anticipate FED rate cuts by the end of the year.
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<h2 class="wp-block-heading">Biden Better For Business</h2>
Scaramucci also stated, &#8220;If you look at who&#8217;s better for capitalism and who&#8217;s better for the economy, it&#8217;s actually Joe Biden.&#8221; &#8220;But Trump has a perception because of The Apprentice and pro-business and this sort of thing that he would be better,&#8221; explained Scaramucci, who turned from a Trump supporter and associate in the past couple of years to a harsh and blunt critic.
Scaramucci also revealed Trump&#8217;s greatest fears and dislikes among politicians. &#8220;The number one Democrat that Trump was most scared of was Joe Biden,&#8221; he said, referencing Trump&#8217;s attempts to undermine Biden through his supposed dealings with Zelenskyy.
As for personal dislikes, Trump's animosity toward John McCain was unparalleled, according to Scaramucci. He recounted his failed attempt to get Trump to visit the ailing McCain, noting, &#8220;Trump was maniacal with the hatred of John McCain. A war hero, a veteran, a patriot – all the things that Trump is incapable of.&#8221;
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<h2 class="wp-block-heading">Comments On Kamala Harris And Cryptocurrency</h2>
With President Joe Biden stepping out of the race, Scaramucci talked about what the Democrats might do next in another recent <a href="https://www.youtube.com/live/mFTI1NtBlBg">podcast</a>. He mentioned that the <a href="https://www.benzinga.com/24/07/39901896/anthony-scaramucci-says-kamala-harris-will-have-historic-win-against-trump-if-the-vice-president-doe">party likes to focus on identity politics</a> and emphasized the importance of having Kamala Harris, the first African American woman vice president, on the ticket.&nbsp;
According to him, if Harris secures the nomination and presents herself with the same competence and confidence as Condoleezza Rice, she will win the election. &#8220;If Harris shows up like she has over the last three and a half years, she&#8217;s going to get trounced,&#8221; he explained. &#8220;But if she shows her true capability, unguarded and unintimidated, she will achieve a historic win,&#8221; he added.
<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/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a> is capable and has a great team. I like where we're going and look forward to seeing her policies on crypto. <a href="https://t.co/b2GSsvK9Pc">https://t.co/b2GSsvK9Pc</a>
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1816266850650435659?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trending: Can you guess which type of investments Morgan Stanley says will reach $2.7 trillion by 2027?<a href="https://www.benzinga.com/money/percent"> It even offers up to 20% APY potential to accredited investors up to $300 back in bonus for new users.</a>
In a recent post on X, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-">praised Harris and her team</a>, particularly looking forward to her policies on cryptocurrency. &#8220;Kamala Harris is capable and has a great team. I like where we&#8217;re going and look forward to seeing her policies on crypto,&#8221; he stated.
He&#8217;s confident that Harris&#8217;s administration <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-">would handle cryptocurrency regulations effectively</a>. &#8220;We have to give her some time to get her policies. I think it will be a dramatic new generation reset for the Democrats,&#8221; Scaramucci said.
Anthony Scaramucci&#8217;s thoughts give us a lively view of how politics can affect the economy. It&#8217;s important to see the whole picture, though. Both Biden and Trump bring different strengths and perceptions to the table. While Scaramucci argues that Joe Biden might be better for the economy, citing his policies, he acknowledges that Trump has a strong pro-business image that resonates with many. The mix of political leadership, market behavior, and regulations shapes our economic future. Understanding these factors helps us better handle the ups and downs of the financial markets.
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Startups

The Markets Like Sh*T Show, Split Governments And Inertia, Says Anthony Scaramucci – 'This Is Still A Fed Driven Market'

The Saver&#8217;s Match, created by the SECURE 2.0 Act of 2022, is poised to transform retirement savings for low-income workers, and could bring a whole new audience <a href="https://www.benzinga.com/personal-finance/24/07/39874181/irs-finalizes-10-year-rule-for-retirement-withdrawals-making-things-even-more-insanely-complicat">to financial advisors. </a>Set to launch in 2027, this program will convert the existing Saver&#8217;s Credit into a federal government match, offering up to $1,000 at a rate of 50 cents per dollar contributed.
According to the Employee Benefit Research Institute, at least 21.9 million workers will qualify for the Saver&#8217;s Match. However, industry experts are scrambling to ensure its effective implementation by the 2027 deadline.
Kim Olson from the Pew Charitable Trusts is leading efforts to assist the Treasury and IRS in launching the program, according to <a href="https://www.planadviser.com/scramble-make-savers-match-work/">planadviser</a>. Key focus areas include simplicity, efficiency, and awareness. Pew has convened working groups to address program publicity, eligibility identification, and fund distribution coordination.
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Emerson Sprick of the Bipartisan Policy Center highlights the Saver&#8217;s Match as a significant improvement over the current Saver&#8217;s Credit, which faces issues such as low federal income tax liability among its target group and lack of awareness.
One major challenge is the &#8220;plumbing&#8221; with recordkeepers. Spencer Williams of the Retirement Clearinghouse suggests that the existing Portability Services Network could be adapted to support the Saver&#8217;s Match, providing a system for participant identification, account matching, and fund transfers.
Implementation hurdles include coordinating with state retirement programs, many of which use post-tax Roth accounts that currently can&#8217;t receive government funds. Solutions may involve creating separate pre-tax accounts for eligible participants.
Experts stress the importance of a robust public awareness campaign to ensure eligible workers know about and utilize the program. They hope the IRS will prominently feature the Saver&#8217;s Match during tax filing season.
Despite the challenges, the Saver&#8217;s Match represents a significant investment in low-to-moderate income workers&#8217; retirement savings. Its successful implementation could potentially reduce future reliance on other social assistance programs, making it a crucial development for both beneficiaries and the U.S. retirement system as a whole &#8211; and could create a new clientele for financial advisors.
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Photo: Shutterstock

Financial Advisors

Education

Government To Match Retirement Savings For Millions Of Workers, Opening New Opportunities For Financial Advisors

The German government kept the cryptocurrency market on tenterhooks with its sale of state-owned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in recent weeks. The process culminated earlier this month, with nearly 50,000 BTC, worth $2.89 billion, dumped in the open market.
One of the most vocal critics of the entire exercise has been Joana Cotar, a member of the German Bundestag. In an interview with Benzinga, she explained the grounds for her disapproval and why this was a "monumental missed opportunity."&nbsp;
<h2 class="wp-block-heading">&#8220;A Concerning Signal About Germany&#8217;s Readiness For 21st-Century Digital Economy&#8221;</h2>
The German lawmaker warned that selling the Bitcoin could cost the country billions in future value, which might have been realized by holding it as a long-term strategic asset. "This action sends a concerning signal about Germany&#8217;s readiness to adapt to the realities of the 21st-century digital economy," she argued.
The Eastern German state of Saxony carried out the liquidation. In a blog post, authorities <a href="https://www.medienservice.sachsen.de/medien/news/1077662">cited </a>a legal obligation to liquidate the seized assets if there is a threat of significant price loss.&nbsp;
Cotar criticized this explanation as "flawed" arguing it demonstrates a critical misunderstanding of Bitcoin&#8217;s nature. She proposed changing the law to allow government institutions to hold Bitcoin for extended periods, supported by secure storage guidelines and periodic review mechanisms
Like other maximalists in the space, the German politician expressed optimism about Bitcoin's inflation hedge potential due to its fixed supply. Additionally, she praised its decentralized nature, which could provide immunity against geopolitical risks and manipulation by big players.
<h2 class="wp-block-heading">Is There Merit In Adopting Bitcoin As A Legal Tender In Germany?</h2>
When Benzinga questioned her about the possibility of Bitcoin becoming a legal tender in a large economy like Germany, the lawmaker said the idea was &#8220;worth exploring.&#8221;&nbsp;
"Germany could consider creating a regulatory sandbox for Bitcoin businesses, similar to Switzerland&#8217;s &#8220;Crypto Valley&#8221; in Zug, to foster innovation while managing risks," Cotar suggested.&nbsp;
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39936042/peter-thiel-founders-fund-lead-11m-investment-in-pudgy-penguins-parent-company-excited-to-">Peter Thiel, Founders Fund Lead $11M Investment In Pudgy Penguins Parent Company: &#8216;Excited to Drive the Consumer Crypto Revolution Forward&#8217;</a>
Other incremental steps advocated by her were offering tax incentives for clean energy-powered Bitcoin mining and integrating Bitcoin education into financial literacy programs.&nbsp;
"The mid to long-term goal should be to fully integrate Bitcoin into our economy and government operations."
<h2 class="wp-block-heading">Praise For Pro-Bitcoin President Nayib Bukele</h2>
The Bundestag member also had words of praise for Nayib Bukele's <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38781429/el-salvador-is-making-it-easy-for-everyone-to-know-how-much-bitcoin-the-country-holds-laun">pro-Bitcoin measures for El Salvador</a>. She praised initiatives such as Bitcoin bonds and the proposed Bitcoin City and stated that Germany may benefit from some of these laws, suited to its economic circumstances.
<h2 class="wp-block-heading">&#8220;IMF&#8217;s Opposition To Cryptocurrencies Is Short-Sighted&#8221;</h2>
But even as voices around the world build support for cryptocurrencies, major financial institutions like the International Monetary Fund continue to push against their widespread adoption. The IMF has <a href="https://www.benzinga.com/markets/cryptocurrency/23/02/31036666/imf-calls-for-coordinated-action-to-address-risks-posed-by-crypto-assets">warned</a> that adopting cryptocurrencies could undermine the effectiveness of monetary policy, circumvent capital flows, and lead to money laundering.
Cotar dismissed this opposition as "short-sighted." She said that the IMF has failed to understand the real potential of these technologies in addressing issues that it itself wants to solve, such as financial inclusion. She criticized the IMF's support for Central Bank Digital Currencies, seen as a major rival to cryptocurrency technology at this moment.
The pro-cryptocurrency legislator added that the first country from the Organisation for Economic Co-operation and Development group to embrace Bitcoin as a strategic reserve asset will likely gain a significant first-mover advantage.
"The country could experience an influx of tech talent and innovation, potentially becoming a hub for Bitcoin startups," she opined. "I believe holding Bitcoin as a strategic reserve could provide leverage by reducing dependence on the U.S. dollar."
Joana Cotar was a member of the far-right party, Alternative für Deutschland (Alternative for Germany), until 2022. She is currently an&nbsp;independent&nbsp;member of the Bundestag.
The office of the Saxon State Chancellery&nbsp;is yet to respond to Benzinga&#8217;s request for comment on the matter.
These insights set the stage for deeper discussions at the upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-">Trump-Era White House Official Anthony Scaramucci Says Kamala Harris Is Capable And Has A Great Team: &#8216;Look Forward To Seeing Her Policies On Crypto&#8217;</a></li>
</ul>
Image Credit: Team Joana Cotar

Exclusives

German Lawmaker Joana Cotar Calls 50K Bitcoin Sale By Her Nation A 'Monumental Missed Opportunity,' Says Holding King Crypto As 'Strategic Reserve' Could Reduce US Dollar Dependence

<a href="https://thewaltdisneycompany.com/marvel-studios-30-billion-box-office/" title="https://thewaltdisneycompany.com/marvel-studios-30-billion-box-office/">https://thewaltdisneycompany.com/marvel-studios-30-billion-box-office/</a>

Disney Announced Saturday Marvel Studios Crosses $30B At Worldwide Box Office

Kamala Harris has come a long way in her career, rising from being a local prosecutor in California to the United States vice president, and she is now a likely presidential candidate. Along this journey, her financial worth has grown significantly. So, how much is Kamala Harris worth today?
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Kamala Harris began her legal career in the Alameda County District Attorney's office in 1990. In 1998, she joined the San Francisco district attorney's office, and in 2004, she became the San Francisco District Attorney. According to Forbes, she made $140,000 a year in that role, which increased to over $200,000 by 2010.
In 2010, Harris became the Attorney General of California. This job came with a pay cut to $159,000, which she earned for the next three years. Despite the lower salary, the role gave her more visibility and influence.
Her tenure in local and state offices has resulted in two pensions, which Forbes estimates worth just under $1 million today.
Trending: Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a>
According to local real estate agent Jerry Beverly, in 2012, after their mother passed away, Kamala Harris and her sister sold her Oakland condo for $710,000.&nbsp;
Two years later, Harris married Doug Emhoff, a managing partner at Venable LLP who made over $1 million yearly and had a well-funded IRA with many investments in individual stocks. Emhoff&#8217;s clients included big names like Walmart and Abbott Labs. As a result, Harris&#8217;s income increased significantly.&nbsp;
Her career continued to climb when she became a U.S. Senator in 2017, earning $174,000 a year. In 2018, she received an advance of more than $300,000 for her memoir, The Truths We Hold. According to tax reports ABC News accessed, she and Emhoff reported a joint income of nearly $1.9 million that year.
In 2020, Harris ran for president but eventually became Joe Biden's running mate. When they won, she became vice president, earning $235,000 a year. Meanwhile, Emhoff left his high-paying law job to teach at Georgetown University, making around $200,000 annually, according to the Independent.
See Also: How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a>
In summary, Forbes estimates that Kamala Harris and Doug Emhoff have a net worth of about $8 million, roughly 22 times the median net worth of Americans in their age bracket. If she wins the presidency, her financial worth and public profile will continue to grow.
But even if she loses the presidential race, it might benefit her financially. Per Forbes, Mike Pence quadrupled his net worth from $1 million to $4 million by giving speeches and writing a memoir after leaving office in 2021 and running for president in 2023.&nbsp;
Joe Biden and his wife Jill earned over $17 million from memoirs and teaching after not running in 2016, increasing their net worth from $2.5 million to $8 million. Harris could follow these proven methods to boost her finances, even after a 2024 loss.
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From Attorney General To VP To Potential President. What Is Vice President Kamala Harris' Net Worth?

<a href="https://www.globenewswire.com/Tracker?data=UfA6eKtJZt5APanKy4U5ZxErhAJONd8XLZBiNx3VCJKccP9P9fbv-xi6LO6DpOJ46YkwxvwD9b_vICH-b_Qab9jTrYzLj_K5FlRsGabGOTY=">Acumen Pharmaceuticals, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABOS#NASDAQ">ABOS</a>), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets toxic soluble amyloid beta oligomers (A&beta;Os) for the treatment of Alzheimer&rsquo;s disease (AD),&nbsp;today announced new findings from its Phase 1 INTERCEPT-AD study of sabirnetug (ACU193). The research highlights the experiences of patients in the clinical trial to inform development of future trials, biomarker data to support sabirnetug&rsquo;s mechanism of action, and an ultra-sensitive method of measuring small amounts of sabirnetug in cerebrospinal fluid (CSF). The posters will be presented at the Alzheimer&rsquo;s Association International Conference (AAIC&reg;) 2024 taking place in Philadelphia and online from July 28-Aug. 1, 2024.
&ldquo;These findings from our Phase 1 study of sabirnetug highlight not only the strength of the study design with participants having early symptomatic AD but also continue to support the potential for sabirnetug as a best-in-class treatment,&quot; said Eric Siemers, M.D., Chief Medical Officer of Acumen. &ldquo;Our research reflects our focus on incorporating the patient voice into drug development, provides further support for the mechanism of action of sabirnetug, and includes developing powerful tools for drug development with an assay that can measure even small amounts of sabirnetug bound to toxic soluble amyloid beta oligomers in patients in our clinical trials. These insights can help us as we advance clinical studies of sabirnetug, including our ongoing Phase 2 study. As recently approved therapies for Alzheimer&rsquo;s gain traction, we have an opportunity to advance a next-generation treatment that has the potential to optimize the benefit-risk ratio compared to first-generation disease-modifying treatments for AD.&rdquo;
Understanding th

Events

ABOS

Acumen Reported Phase 1 Results for Sabirnetug in Early Symptomatic Alzheimer's Disease At Alzheimer's Association International Conference

Alector, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALEC#NASDAQ">ALEC</a>), a clinical-stage biotechnology company pioneering immuno-neurology, today announced the presentation of a poster on baseline characteristics for the global INVOKE-2 Phase 2 clinical trial evaluating the safety and efficacy of AL002 in slowing disease progression in individuals with early Alzheimer&rsquo;s disease (AD) at the Alzheimer&#39;s Association International Conference&reg; 2024 (AAIC&reg;). The conference is being held online and in Philadelphia, Pennsylvania from July 28 &ndash; August 1, 2024.
&quot;The baseline characteristics of the patients in INVOKE-2 are important for assessing the quality of our double-blind, placebo-controlled Phase 2 clinical trial evaluating the safety and efficacy of AL002, the most advanced TREM2-activating candidate in clinical development for early Alzheimer&rsquo;s disease,&rdquo; said Gary Romano, M.D., Ph.D., Chief Medical Officer of Alector. &ldquo;We are pleased that the baseline clinical assessments confirm that the INVOKE-2 trial enrolled the intended population of participants with early Alzheimer&rsquo;s disease, allowing us to test Alector&rsquo;s hypothesis that treatment with this first-in-class TREM2 agonist may slow disease progression.&rdquo;

ALEC

Alector Announced Baseline Characteristics Data For The INVOKE-2 Study Confirm A Representative Study Population That Enables Testing Of The Effects Of A Novel TREM2 Agonist In Early Alzheimer's Disease

The past week has been a whirlwind of political developments following President Joe Biden&#8217;s decision to withdraw from the 2024 race causing a stir. The majority of Americans seem to approve of this decision. Meanwhile, speculation is rife about former President Donald Trump&#8217;s potential running mate, as Vice President Kamala Harris gains momentum.
North Korea&#8217;s dismissal of Trump&#8217;s claims of friendship and Nikki Haley&#8217;s endorsement of Trump over Harris have added fuel to election drama. Let&#8217;s delve into these stories in more detail.
Trump Vs. Harris: Public Opinion Post-Biden&#8217;s Exit
Following President Biden&#8217;s decision to withdraw from the 2024 race, a snap poll revealed that 71% of Americans either strongly or somewhat approved of his decision. The poll, conducted by YouGov, surveyed 2,048 adults shortly after Biden&#8217;s announcement.&nbsp;
<a href="https://www.benzinga.com/news/24/07/39878848/trump-vs-harris-first-poll-after-bidens-exit-shows-majority-approve-of-decision-but-heres-how-it-mig">Read the full article here.</a>
Trump&#8217;s Potential Running Mate: A Disruptive Change?
As Vice President Harris gains momentum, questions are being raised about whether Trump might replace Sen. J.D. Vance (R-Ohio) as his vice presidential candidate. Despite Trump&#8217;s continued support for Vance, the possibility of a replacement is being discussed, which experts warn could be &#8220;extraordinarily disruptive.&#8221;
<a href="https://www.benzinga.com/news/24/07/39979544/can-trump-replace-jd-vance-amid-kamala-harris-picking-pace-experts-warn-that-could-be-extraordinaril">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39924772/democratic-mega-donors-predict-kamala-harris-to-pick-vp-among-these-3-lawmakers-as-presidential-race?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Democratic Mega Donors Predict Kamala Harris To Pick VP Among These 3 Lawmakers As Presidential Race Against Trump Heats Up</a>
North Korea&#8217;s Response to Trump&#8217;s Friendship Claims
North Korea has dismissed Trump&#8217;s claims about his amicable relationship with leader Kim Jong Un, stating that they &#8220;do not care&#8221; about his words. This is the first response from North Korea following Trump's address at the Republican National Convention.
<a href="https://www.benzinga.com/news/24/07/39925959/kim-jong-un-rejects-donald-trumps-friendship-claims-north-korea-says-we-do-not-care-expresses-nuclea">Read the full article here.</a>
Nikki Haley&#8217;s Endorsement of Trump Over Harris
Nikki Haley, the former Governor of South Carolina, has voiced her support for Trump over Harris in the upcoming November election. She praised the Democrats for putting in a younger candidate but criticized Harris for her track record on illegal immigration.
<a href="https://www.benzinga.com/news/24/07/39975168/nikki-haley-says-democrats-are-very-smart-to-put-in-a-younger-candidate-against-trump-but-kamala-har">Read the full article here.</a>
Trump&#8217;s Complaint Against Harris&#8217;s Campaign
Trump&#8217;s campaign has filed a complaint with the Federal Election Commission against Harris&#8217;s campaign, accusing it of improperly acquiring funds from Biden&#8217;s campaign. The complaint alleges a $91.5 million heist and a &#8220;brazen money grab.&#8221;
<a href="https://www.benzinga.com/news/24/07/39922045/trump-campaign-files-election-commission-complaint-against-kamala-harris-accuses-vps-campaign-of-91">Read the full article here.</a>
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/07/39957078/trump-vs-harris-new-poll-shows-close-race-but-vice-president-could-benefit-from-dramatic-shifts-amon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: New Poll Shows Close Race, But Vice President Could Benefit From ‘Dramatic Shifts' Among These Key Voter Groups</a></li>
</ul>
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>
Image Via Shutterstock

Media

From Trump Vs. Harris Poll To Kim Jong Un Dismissing Ex-President's Friendship Claims And More: This Week In Politics

This week has been a rollercoaster ride for the financial world. From warnings of a potential market crash to a surge in small-cap stocks, the market has seen it all.
The U.S. economy showed impressive strength, while predictions of soaring Bitcoin, gold, and silver prices added to the intrigue. Amidst all this, allegations of Treasury securities manipulation were strongly refuted.
Market Alarms And Federal Reserve Warnings
Economist&nbsp;Peter Schiff&nbsp;raised concerns about a potential market crash, highlighting the current market sell-off, the rise of safe-haven currencies, and the fall of commodity currencies. He warned that the &#8220;Markets are sounding an alarm,&#8221; suggesting that the Federal Reserve should cut rates before a recession hits.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39951461/markets-are-sounding-an-alarm-peter-schiff-warns-federal-reserve-should-cut-rates-b">Read the full article here.</a>
Small Cap Stocks See Major Investments
Investors have shown increasing bullishness on small-cap stocks, pouring over $6 billion into the Russell 2000 ETF this month. This is driven by optimistic projections for the interest-rate-sensitive segment of the market to thrive as the Federal Reserve rate-cut cycle approaches.
<a href="https://www.benzinga.com/markets/equities/24/07/39970069/investors-go-all-in-on-small-caps-pour-over-6-billion-into-russell-2000-etf-this-month-they-will">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39905739/veteran-wall-street-investor-downplays-recession-odds-current-bull-market-has-more-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Veteran Wall Street Investor Downplays Recession Odds: ‘Current Bull Market Has More Support From Earnings'</a>
Impressive U.S. GDP Growth
Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, stated that the U.S. economy is much stronger than people realize. He suggested that markets &#8220;should breathe a sigh of relief&#8221; after the recent GDP number, indicating a 2.8% growth in the economy above and beyond inflation.
<a href="https://www.benzinga.com/government/24/07/39962595/markets-should-breathe-a-sigh-of-relief-economist-says-new-gdp-report-is-very-impressive">Read the full article here.</a>
Bitcoin, Gold, And Silver Predictions
Robert Kiyosaki, the author of &#8220;Rich Dad Poor Dad,&#8221; predicted a significant surge in the prices of Bitcoin, gold, and silver if former President Donald Trump wins the 2024 election. He suggested that a Trump presidency would lead to a weaker dollar, boosting exports and job creation, and consequently driving up the prices of these assets.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39900472/rich-dad-poor-dad-author-robert-kiyosaki-predicts-bitcoin-gold-and-silver-prices-will-soar">Read the full article here.</a>
Janet Yellen Refutes Treasury Manipulation Claims
U.S. Treasury Secretary&nbsp;Janet Yellen&nbsp;strongly refuted allegations of manipulating the issuance of Treasury securities. These accusations were made by economist Nouriel Roubini, who suggested that such manipulation was aimed at reducing real borrowing costs across the economy.
<a href="https://www.benzinga.com/news/24/07/39997008/janet-yellen-rejects-economist-roubinis-and-trump-era-officials-claims-of-manipulation-in-treasuries">Read the full article here.</a>
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</ul>
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>
Image generated using AI via Midjourney

Economics

Peter Schiff Warns Of Potential Market Crash, Small Cap Stocks See Major Investments And More: This Week In Economics

The past week was a whirlwind for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with news ranging from product discontinuation to market share shifts, AI regulation support, and a public spat with a tech giant. Here&#8217;s a quick rundown of the top stories that kept the tech giant in the headlines.
Apple To Discontinue iPhone 17 Plus for Ultraslim Version
According to a report by Ming-Chi Kuo, a renowned analyst at TF Securities, Apple plans to phase out the iPhone 17 Plus model, which currently accounts for only 5-10% of total new iPhone shipments. In its place, the company intends to introduce an ultra-slim variant in the second half of 2025. Kuo believes that the Plus model has become redundant due to the comprehensive coverage of high-end market segments by the standard, Pro, and Pro Max models. <a href="https://www.benzinga.com/news/24/07/39951687/apple-to-discontinue-iphone-17-plus-in-favor-of-an-ultraslim-version-says-prominent-tipster">Read the full article here.</a>
Apple&#8217;s Market Share Drops in China
Apple&#8217;s market share in China has dropped to 14% in Q2 2024, a decrease of two percentage points from the same period last year, according to data from Canalys. The iPhone maker fell from third place to sixth in the country, while Huawei Technologies saw a significant surge in smartphone shipments, with a 41% year-on-year increase in the same quarter. This surge is largely attributed to the launch of Huawei&#8217;s new Pura 70 series in April. <a href="https://www.benzinga.com/markets/equities/24/07/39954971/apple-drops-from-3rd-to-6th-in-china-amid-intensifying-competition-huawei-shipments-surge-41-in-">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/07/39997056/top-analyst-says-openais-ai-powered-search-engine-likely-isnt-a-threat-to-google-its-hard-to-see-why">Top Analyst Says OpenAI&#8217;s AI-Powered Search Engine Likely Isn&#8217;t A Threat To Google</a>
Apple Pledges Support for Biden&#8217;s AI Regulations
Along with other industry giants such as OpenAI Inc., Amazon.com, Alphabet Inc., Meta Platforms Inc., and Microsoft Corp., Apple has committed to the voluntary artificial intelligence (AI) safeguards set by President Joe Biden&#8217;s administration. The tech giant has pledged to test their AI systems for potential discriminatory tendencies, security flaws, or national security risks. This commitment comes amid controversy stirred by Tesla Inc. CEO Elon Musk over Apple&#8217;s plan to integrate OpenAI's chatbot application, ChatGPT, into its voice-command assistant on iPhones. <a href="https://www.benzinga.com/news/24/07/39984404/apple-joins-meta-and-google-pledges-support-for-bidens-ai-regulations">Read the full article here.</a>
Apple to Integrate A18 Chip for AI Features
Apple is reportedly planning to integrate its A18 chip into its upcoming entry-level iPhones and iPads to enable them to run Apple Intelligence, the company&#8217;s suite of AI features. This news follows speculations surrounding the specifications of the upcoming fourth-generation iPhone SE, which is likely to be powered by the A18 chip, the same chip anticipated to power the entire iPhone 16 lineup. <a href="https://www.benzinga.com/news/24/07/39904665/apple-plans-a18-chip-integration-to-bring-ai-features-to-iphone-16-its-entry-level-variants-and-ipad">Read the full article here.</a>
Zuckerberg Criticizes Apple&#8217;s &#8220;Soul-Crushing&#8221; Tactics
Meta Platforms, Inc. CEO Mark Zuckerberg criticized Apple in an interview on Tuesday, expressing his desire to avoid the iPhone maker's "soul-crushing" tactics by releasing the largest open-source AI model ever. Zuckerberg expressed his aspiration to steer his own technological "destiny" and evade the "soul-crushing" strategies of Apple. <a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership">Read the full article here.</a>
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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>

Apple's Market Share Drops In China, A18 Chip Integration To Bring AI Features To iPhone 16 And More: This Week In Appleverse

The past week was filled with exciting developments in the tech world, particularly in the realm of artificial intelligence (AI). From Elon Musk unveiling his ambitious AI plans to Mark Zuckerberg taking a swipe at Apple, and Taiwan announcing a massive economic reform, the week was anything but dull. Let&#8217;s dive into the details.
Musk&#8217;s AI Power Play 
Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), announced the timeline for the chatbot models of his AI company xAI. Musk revealed that Grok 2, one of the models, has completed its training and is currently in the bug-fixing stage, with an official release planned for next month. <a href="https://www.benzinga.com/news/24/07/39897590/elon-musk-says-grok-3-should-be-the-most-powerful-ai-upon-its-release-gives-timeline-for-xai-models">Read the full article here.</a>
xAI&#8217;s Supercluster Launch
Musk&#8217;s AI startup xAI, in collaboration with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), successfully initiated the training of the Memphis Supercluster, a powerful AI training cluster, with 100,000 Nvidia H100 GPUs. Musk took to Twitter to express his admiration for the teams involved in the launch. <a href="https://www.benzinga.com/news/24/07/39881748/elon-musks-xai-flips-the-switch-on-100k-nvidia-h100-gpus-worth-up-to-4b-in-memphis-supercluster-most">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/07/39901629/elon-musk-says-google-co-founder-and-one-of-his-best-friends-larry-page-thought-eventually-we-will-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Google Co-Founder And One Of His &#8216;Best Friends&#8217; Larry Page Thought Eventually We Will All &#8216;Upload Our Minds To The Computer&#8217;</a>
Zuckerberg&#8217;s Apple Critique 
Mark Zuckerberg, CEO of Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), criticized Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in an interview, expressing his desire to avoid Apple&#8217;s &#8220;soul-crushing&#8221; tactics by releasing the largest open-source AI model ever. <a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership">Read the full article here.</a>
Taiwan&#8217;s Economic Reform
Taiwan&#8217;s Premier Cho Jung-tai announced a sweeping economic and social reform plan, aiming to attract nearly $100 billion in investments. The reform plan focuses on energy, artificial intelligence, and infrastructure. <a href="https://www.benzinga.com/markets/asia/24/07/39950335/taiwan-unveils-100b-economic-reform-plan-after-trump-said-it-should-pay-us-for-defense-will-fuel-nvi">Read the full article here.</a>
Musk and Zuckerberg Agree
Musk publicly expressed his support for Zuckerberg&#8217;s views on the ongoing debate over open-source versus closed-source AI models. This came after a user on X, formerly Twitter, shared a comment from Meta CEO's blog post criticizing closed model providers for lobbying against open source. <a href="https://www.benzinga.com/news/24/07/39925842/elon-musk-agrees-with-arch-rival-mark-zuckerberg-after-meta-ceo-slams-closed-providers-like-openai-f">Read the full article here.</a>
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</ul>
Photo by Andrea De Santis on Unsplash
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>

NVDA

TSLA

Elon Musk's AI Ambitions, Mark Zuckerberg's Apple Critique, And Taiwan's $100B Economic Reform: This Week In AI

Thousands of athletes around the world will compete for medals at the<a href="https://www.benzinga.com/topic/olympics"> 2024 Summer Olympics. </a>
Winning an Olympic medal can be a valuable experience for athletes as they can earn new endorsements and sponsorships based on their success. 
Some countries also pay athletes for winning medals during the Olympic Games. Olympic winners also receive a medal that has valuable metal material in it and has resale value years down the road.
Olympic Medal Payouts:&nbsp;The USA is <a href="https://www.benzinga.com/general/sports-betting/24/07/39989579/6-stocks-going-for-gold-during-2024-summer-olympics-biggest-event-in-company-history">favored to win </a>the most overall medals and gold medals at the 2024 Summer Olympics. The country has won the most medals at several recent consecutive Summer Olympics and has won the most gold medals in the past three Summer Olympics. 
Running July 26 through Aug. 11, coverage of the 2024 Summer Olympics will be done by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) in the United States across various channels and the Peacock streaming platform.
U.S. athletes that win 2024 Olympic medals are paid&nbsp;$37,500 for golds, $22,500 for silver and $15,000 for bronze, according to USA Today. 
Other countries like Malaysia, Morocco and Serbia pay $200,000 to their athletes for a gold medal win. At least nine countries pay $100,000 or more for each gold medal won to their athletes, USA Today reported. 
U.S. athletes that earn more than $1 million annually get the amounts they&#8217;re paid for winning medals taxed. Michael Phelps paid around $55,000 in taxes from his 2016 Olympic medal-winning payouts, according to<a href="https://twitter.com/JoePompliano/status/1418654958434594817" target="_blank" rel="noreferrer noopener">&nbsp;Joe Pompliano</a>.
Read Also: <a href="https://www.benzinga.com/general/sports-betting/24/07/39989579/6-stocks-going-for-gold-during-2024-summer-olympics-biggest-event-in-company-history">6 Stocks Going For Gold During 2024 Summer Olympics: &#8216;Biggest Event&#8217; in Company History</a>
Olympic Medal Value:&nbsp;The 2024 medals will be different from other games and <a href="https://www.nbcolympics.com/news/paris-olympic-medalists-take-home-actual-piece-eiffel-tower">contain </a>iron from the legendary Eiffel Tower that was removed during a previous renovation. 
Here are the current <a href="https://www.dailymetalprice.com/metalprices.php?c=fe&amp;u=kg&amp;d=1">values </a>of the metals inside the medals at the time of writing and their components:
<ul>
<li>Gold medal contains 505 grams of silver, 6 grams of gold and 18 grams of iron: $909.17</li>
<li>Silver medal contains 507 grams of silver and 18 grams of iron: $451.23 </li>
<li>Bronze medal contains 415.15 grams of copper, 21.85 grams of zinc and 18 grams of iron: $3.81 </li>
</ul>
The totals don&#8217;t count the historic value of the pieces from the Eiffel Tower. 
Of course, Olympic medals can be quite valuable later in resale at auction depending on the sport, athlete and year of the games.
Typical medal resale values&nbsp;<a href="https://www.usatoday.com/story/sports/olympics/2014/09/16/olympic-medals-auction-collectors/15736857/" target="_blank" rel="noreferrer noopener">are&nbsp;</a>$5,000 to $6,000 for bronze, $8,000 for silver and $10,000 for gold.
A Jesse Owens 1936 gold medal sold for $1.47 million in 2017 to billionaire Ron Burkle. Two &#8220;Miracle on Ice&#8221; 1980 gold medals sold for $310,700 and $262,900.
Before 1960, Olympic medals weren&#8217;t&nbsp;engraved for the sport or event, making them harder to track to a specific event or athlete.
An 1896 first place medal from the first modern Olympic Games <a href="https://apnews.com/article/2020-tokyo-olympics-lifestyle-sports-europe-sweden-olympic-team-81b60c74804c38f10956fe754bb531d8" target="_blank" rel="noreferrer noopener">sold </a>for $180,000 previously. The first Olympics featured only 250 athletes and awarded silver medals for first place, bronze for second and no third place medal.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/24/07/39973454/do-summer-olympics-and-gold-medals-matter-to-the-stock-market-the-results-may-surprise-you">Do Summer Olympics (And Gold Medals) Matter To The Stock Market? The Results May Surprise You</a></li>
</ul>
This article was previously published by Benzinga and has been updated.
Photo: Adwo/Shutterstock.com

How Much Are Physical 2024 Olympic Gold Medal, Silver Medal And Bronze Medals Worth? The Answer Might Surprise You

The week was a whirlwind of cryptocurrency news, with big names like Elon Musk and Vice President Kamala Harris making headlines.
From Musk&#8217;s profile picture causing a meme coin surge to Harris&#8217; team seeking crypto advice from Mark Cuban, the crypto world was buzzing with activity. Here&#8217;s a quick recap of the top stories.
Musk&#8217;s Meme Coin Magic
A simple change in profile picture by the Tesla CEO led to a massive surge in the value of Dark Maga (CRYPTO: DMAGA), a politics-themed meme coin. The coin, featuring Donald Trump with laser eyes, saw a 4,300% increase in value within 24 hours of Musk&#8217;s profile picture change.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39891699/elon-musk-puts-on-dark-maga-laser-eyes-turning-5k-into-1-8m-for-one-lucky-trader">Read the full article here.</a>
Harris&#8217; Crypto Consultation
Vice President Harris&#8217; advisors have reportedly been in discussions with billionaire and crypto enthusiast, Mark Cuban. This suggests a potential shift in the Democratic Party's perspective on digital assets, especially as Harris&#8217; presidential campaign is underway.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39916724/vice-president-kamala-harris-team-contacted-mark-cuban-on-crypto-policy">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39955624/is-dogecoin-really-moving-according-to-plan-prominent-analyst-claims-i-havent-sold-one-sin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Dogecoin Really Moving &#8216;According To Plan?&#8217; Prominent Analyst Claims: &#8216;I Haven&#8217;t Sold One Single DOGE, I&#8217;ve Just Been Buying&#8217;</a>
Lummis&#8217; Bitcoin Battle
Senator Cynthia Lummis (R-Wyo.) criticized the Joe Biden administration&#8217;s proposal to impose a 30% tax on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining operations, calling it a &#8220;blatant attack&#8221; on innovation and American excellence. She outlined the potential adverse effects of such a tax in an &#8220;orange paper.&#8221;
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39923307/senator-cynthia-lummis-slams-biden-administrations-dangerous-scheme-to-impose-30-tax-on-bi">Read the full article here.</a>
Harris&#8217; Bitcoin Conference Snub
Vice President Harris will not be attending the upcoming Bitcoin 2024 conference, according to David Bailey, CEO of BTC Inc. This decision has sparked controversy within the cryptocurrency community, highlighting the complex relationship between the current administration and the digital asset industry.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39938175/vice-president-harris-snubs-bitcoin-conference-would-have-been-a-disaster-for-her-shrugs-o">Read the full article here.</a>
Schiff&#8217;s Bitcoin Blast
Economist Peter Schiff criticized Bitcoin investors' expectations from Trump, of the cryptocurrency being designated as a strategic reserve asset, likening it to political vote-buying tactics. He equated this to President Biden's promise to forgive student loans to win votes.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948158/peter-schiff-compares-hopes-that-trump-declares-bitcoin-as-treasury-reserves-with-bidens-s">Read the full article here.</a>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39934446/dogecoins-first-weekly-golden-cross-in-four-years-is-2-3-green-weeks-away?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s First Weekly Golden Cross In Four Years Is &#8216;2-3 Green Weeks Away&#8217;</a></li>
</ul>
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>
Image via Shutterstock

Cynthia Lummis Slams Biden's 30% Bitcoin Mining Tax Proposal, Vice President Kamala Harris Snubs Bitcoin Conference And More: Top Crypto Updates This Week

Mary Trump says her uncle Donald Trump is &#8220;scared&#8221; to face Kamala Harris for the presidency because he is &#8220;afraid of getting beaten by a girl.&#8221;
What Happened: Mary Trump made the comments in a <a href="https://www.youtube.com/watch?v=r8ajvqjQsyo">YouTube video</a> on Friday. In a separate Substack <a href="https://www.marytrump.org/p/donald-is-terrified-of-his-new-competition">post</a> published Wednesday, she said her uncle hates women, especially strong women and minorities. That&#8217;s why Harris &#8220;terrifies him to the point of incoherence,&#8221; she said. 
&#8220;Faced with the reality that he is now running against a vibrant, intelligent, experienced woman who is fully two decades younger than he is, Donald spent Sunday and Monday flailing, trying to find an angle of attack that would stick,&#8221; she added.
Referring to Tesla CEO Elon Musk changing his mind about pledging $45 million a month to Donald Trump&#8217;s campaign, the psychologist and podcaster said, &#8220;Donald and his sycophants, enablers, and backers are scared.&#8221; 
She said that Musk&#8217;s backtracking may have to do with the fact that &#8220;he just doesn't feel like setting that much money on fire in service to a losing candidate.&#8221;
The whole Republican campaign had, up until now, focused on President Joe Biden&#8217;s age and fitness and to the &#8220;attacks the Republican-controlled House of Representatives have launched on his family,&#8221; Mary Trump said. &#8220;Now, they have to start over and come up with a new strategy that somehow makes Donald, the oldest presidential candidate in American history, seem a reasonable alternative to Harris.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/39950334/anthony-scaramucci-flags-demographic-data-causing-jitters-in-trumps-campaign-calls-harris-a-competen">Anthony Scaramucci Flags Demographic Data Causing Jitters In Trump&#8217;s Campaign, Calls Harris A &#8216;Competent Steward Of The American Century&#8217;</a>
Why It&#8217;s Important: Polls conducted since Biden quit the race have shown that Harris is faring better than Biden against Trump. Some of the polls show a neck-in-neck race.
A recent CNN poll found that half of those who backed Harris said <a href="https://www.benzinga.com/news/24/07/39957078/trump-vs-harris-new-poll-shows-close-race-but-vice-president-could-benefit-from-dramatic-shifts-amon">their vote was in support of her rather than a vote against Trump</a>. By contrast, a June poll found that just 37% of Biden supporters said their vote was mainly to express support for Biden rather than to oppose Trump.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a></li>
</ul>
Photo: Shutterstock

Trump's Niece Says Ex-President 'Scared' To Face Harris: 'He Is Now Running Against A Vibrant, Intelligent, Experienced Woman'

Pet Valu Holdings: Recession-Resistant Retailer On The Sale Rack

Portillo's: Patience Required

Pet Valu: High Growth Retail Concept Selling At Fair Prices

Pet Valu Holdings to launch normal course issuer bid

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The pet care industry went through a massive growth spurt during the pandemic when it seemed everyone had to own a companion pet. This lit a fire under pet care stocks.&nbsp;



Sadly for the animals themselves, adults have grown tired of the idea of pet ownership or can&rsquo;t afford the ongoing costs, and this has led to <a href="https://www.axios.com/2023/08/30/euthanasia-animal-shelter-statistics-2023-post-pandemic">euthanasia rates</a> across United States animal shelters reaching a three-year high.&nbsp;



However, the pet care industry was strong before the pandemic, and it will be strong after, as irresponsible owners are replaced with true animal lovers who understand the responsibilities involved in owning a pet.&nbsp;



Food, vet visits, playtoys, etc., will continue for most of the 85 million families that own some kind of pet in the U.S. These owners spend an estimated $99 billion annually on their pets. I do not doubt that it will continue to grow.



Here are three pet care stocks that will benefit from this consistent growth.



<h2>Colgate-Palmolive (CL)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/colgate-cl-stock-1600-300x169.jpg" alt="Colgate toothpaste and mouthwash in a cup with a toothbrush"><div>Source: monticello / Shutterstock.com</div></div>


I was going to go with Nestle (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nsrgy-stock-quote/">NSRGY</a>) as it owns the <a href="https://www.nestle.com/brands/petcare">Purina brands</a>, which include Pro Plan, Friskies, Fancy Feast, and Dog Chow, as well as a minority stake in IVC Evidensia, an owner of more than <a href="https://eqtgroup.com/news/2021/ivc-evidensia-expands-partnership-to-drive-next-phase-of-accelerating-growth/">1,500 vet clinics</a> in Europe. However, then I remembered that all of my cats eat Hill&rsquo;s Science Diet oral care kibble, which Colgate-Palmolive (NYSE:<a href="https://investorplace.com/stock-quotes/cl-stock-quote/">CL</a>) <a href="https://www.hillspet.ca/en-ca/about-us/our-company/hills-pet-nutrition-history#:~:text=Hill's%20Today,86%20countries%20around%20the%20world." target="_blank">has owned since 1976</a>.&nbsp;



As a stock, Colgate has woefully underperformed over the past five years, gaining 30%, considerably less than the 84% return of the S&amp;P 500. It&rsquo;s time for reversion to the mean to kick in and send CL stock higher in 2024.&nbsp;



What&rsquo;s been holding it back? It&rsquo;s performed exceptionally well since hitting a 52-week low of $67.62 in mid-October. That&rsquo;s partly <a href="https://www.tipranks.com/news/colgate-palmolive-stock-nysecl-top-rated-analyst-upgrades-rating-to-buy" target="_blank">due to the upgrade of its stock</a> around that time by Stifel Nicolaus analyst Mark Astrachan, who moved it from &ldquo;Hold&rdquo; to &ldquo;Buy&rdquo; with an $81 target price.&nbsp;&nbsp;&nbsp;



It&rsquo;s already hit the analyst&rsquo;s 12-month target in less than three months. Should its momentum carry through 2024, $100 or more is definitely in the cards.



Through the nine months ended Sept. 30, 2023, Colgate&rsquo;s Pet Nutrition segment had revenue of <a href="https://investor.colgatepalmolive.com/news-releases/news-release-details/colgate-announces-3rd-quarter-2023-results">$3.18 billion</a>, 20% higher than a year earlier. It accounted for 22% of the company&rsquo;s overall revenue and 17% of its operating profit.&nbsp;



In September 2022, it paid <a href="https://investor.colgatepalmolive.com/static-files/44c92853-1d39-49ff-9848-79cf59f8b7cd">$719 million</a> for Red Collar Pet Foods, which operated three dry pet food manufacturing plants in the U.S. This is part of its plan to grow the Hill&rsquo;s business. That should help the pet care segment contribute more to Colgate&rsquo;s business.



<h2>Pet Valu Holdings (PTVLF)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/pets-1600-300x169.png" alt="Group of pets posing around a border collie; dog, cat, ferret, rabbit, bird, fish, rodent"><div>Source: Eric Isselee / Shutterstock</div></div>


<a href="https://investorplace.com/2024/01/3-consumer-stocks-to-sell-in-january-before-they-crash-and-burn/">I am not a fan</a> of Chewy (NYSE:<a href="https://investorplace.com/stock-quotes/chwy-stock-quote/">CHWY</a>) because even though it&rsquo;s an online dynamo in pet care, it does not know how to operate its business profitably. Our local PetSmart is unbelievably well-run that it makes me wish the company was publicly traded. Alas, that&rsquo;s not the case.&nbsp;



So, I went with the Canadian option and Pet Valu Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ptvlf-stock-quote/">PTVLF</a>), the Toronto-based operator of <a href="https://s28.q4cdn.com/101245351/files/doc_financials/2023/q3/Pet-Valu-Holdings-Ltd-Q3-2023-MD-A.pdf">225 company-owned</a> and 541 franchised stores across Canada.&nbsp;&nbsp;



In the first nine months of 2023, it opened 22 new stores and renovated, expanded or relocated another 29. That&rsquo;s a little shy of its goal of 35-40 for 2023. It opened 18 net-new stores in 2020, 28 in 2021, and 45 in 2022. There was also the acquisition of 66 franchised stores operating under the Chico banner in Quebec.



The company&rsquo;s growth plan is based on three ideas.



The first is to grow the store count from 766 today to more than <a href="https://s28.q4cdn.com/101245351/files/doc_financials/2023/q3/Pet-Valu-Holdings-Ltd-Q3-2023-Presentation.pdf" target="_blank">1,200 in the future</a>.&nbsp;The second is to continue to drive same-store sales growth. In the latest quarter, it was 4% higher year-over-year.&nbsp;Finally, through the modernization of its systems, the plan is to improve the company&rsquo;s operating margins. It&rsquo;s got some work to do. In Q3 2023, its operating margin was 14.3%, 340 basis points less than a year ago. Lower gross margins didn&rsquo;t help the situation.



Based on its full-year earnings per share guidance of at least $1.60, it trades at a reasonable 18 times earnings. Down 27% over the past year, now is an excellent time to buy into Pet Valu.&nbsp;



<h2>Idexx Laboratories (IDXX)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/idxx1600-300x169.jpg" alt="vet looking at a dog's xray to represent pet stocks like IDXX"><div>Source: Shutterstock</div></div>


As its investor relations <a href="https://www.idexx.com/en/about-idexx/investors/" target="_blank">website states</a>, &ldquo;Idexx Laboratories (NASDAQ:<a href="https://investorplace.com/stock-quotes/idxx-stock-quote/">IDXX</a>) is a global leader in veterinary diagnostics, software, and water microbiology testing.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



The company has three operating segments: Companion Animal Group (<a href="https://www.idexx.com/files/10q20231101.pdf">92%</a> of revenue), Water Quality Products (5%), and Livestock, Poultry and Dairy (3%). Not only does the companion animal business generate most of its revenue, but it also accounts for most of Idexx&rsquo;s operating profits.&nbsp;



Of the companion animal revenues in Q3 2023 ($837.2 million), 88% is recurring, which is best because it leads to higher operating margins. In 2023, it expects to grow its operating margin by 370 basis points at the midpoint of its guidance to 29.7%.&nbsp;



All of this should lead to earnings per share of $9.82, which is 56 times earnings. However, despite the nosebleed valuation, it was considerably higher in June 2021 when IDXX traded at more than $700. Back then, investors paid upwards of <a href="https://www.morningstar.com/stocks/xnas/idxx/valuation">76 times</a> earnings to own its shares.



Best of all, Idexx&rsquo;s balance sheet is pristine. At the end of September, its net debt was $809 million [total debt of <a href="https://www.morningstar.com/stocks/xnas/idxx/financials">$1.14 billion</a> less cash of $332 million] or less than 2% of its $46 billion market cap.



In 2024, if interest rates don&rsquo;t come down, Idexx won&rsquo;t care. It has almost no leverage. That&rsquo;s my kind of company.&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/01/3-purrfect-stocks-to-buy-for-the-booming-pet-care-industry/">3 Purrfect Stocks to Buy for the Booming Pet Care Industry</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Purrfect Stocks to Buy for the Booming Pet Care Industry

Pet Valu: Downgrading On Valuations

Pet Valu Holdings reports Q1 results

Mawer Investment Management Q2 2024 Quarterly Update

AIQUF

AIQUY

ASMIY

ASML

ASMLF

ASMXF

CHWY

DLMAF

EDNMF

EDNMY

GOOG

GOOGL

IDXX

IPSOF

LULU

LVMHF

LVMUY

MSFT

NSRGY

PTLO

PTVLF

RELX

RLXXF

SCCAF

TSMWF

VRSK

WOLTF

WTKWY

Pet Valu Hldgs

National Bank Financial Inc

<h3>Upgrades</h3>
Goldman Sachs upgraded the previous rating for Petroleo Brasileiro SA Petrobras (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>) from Neutral to Buy. Petrobras Brasileiro earned $1.12 in the first quarter, compared to $1.32 in the year-ago quarter. At the moment, the stock has a 52-week-high of $16.32 and a 52-week-low of $8.88. Petrobras Brasileiro closed at $14.23 at the end of the last trading period. 
According to Morgan Stanley, the prior rating for Quotient Technology Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QUOT#NYSE">QUOT</a>) was changed from Underweight to Equal-Weight. In the first quarter, Quotient Technology showed an EPS of $0.18, compared to $0.28 from the year-ago quarter. The stock has a 52-week-high of $4.25 and a 52-week-low of $1.68. At the end of the last trading period, Quotient Technology closed at $3.90. 
According to Benchmark, the prior rating for LiveRamp Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RAMP#NYSE">RAMP</a>) was changed from Hold to Buy. In the fourth quarter, LiveRamp Holdings showed an EPS of $0.32, compared to $0.01 from the year-ago quarter. The stock has a 52-week-high of $30.68 and a 52-week-low of $15.38. At the end of the last trading period, LiveRamp Holdings closed at $26.44. 
According to Loop Capital, the prior rating for OneSpaWorld Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSW#NASDAQ">OSW</a>) was changed from Hold to Buy. For the first quarter, OneSpaWorld Holdings had an EPS of $0.13, compared to year-ago quarter EPS of $0.03. The current stock performance of OneSpaWorld Holdings shows a 52-week-high of $13.00 and a 52-week-low of $6.80. Moreover, at the end of the last trading period, the closing price was at $11.27. 
For Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>), BMO Capital upgraded the previous rating of Market Perform to Outperform. Adobe earned $3.91 in the second quarter, compared to $3.35 in the year-ago quarter. The stock has a 52-week-high of $518.74 and a 52-week-low of $274.80. At the end of the last trading period, Adobe closed at $485.86. 
For Pet Valu Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PTVLF#OTC">PTVLF</a>), National Bank Financial Inc upgraded the previous rating of Sector Perform to Outperform. 
According to Wolfe Research, the prior rating for Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) was changed from Peer Perform to Outperform. Spotify Technology earned $1.24 in the first quarter, compared to $0.24 in the year-ago quarter. The current stock performance of Spotify Technology shows a 52-week-high of $160.63 and a 52-week-low of $69.41. Moreover, at the end of the last trading period, the closing price was at $156.82. 
According to Keybanc, the prior rating for Avangrid Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGR#NYSE">AGR</a>) was changed from Underweight to Sector Weight. For the first quarter, Avangrid had an EPS of $0.64, compared to year-ago quarter EPS of $1.16. At the moment, the stock has a 52-week-high of $51.71 and a 52-week-low of $36.81. Avangrid closed at $37.89 at the end of the last trading period. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings upgrades.</a>
<h3>Downgrades</h3>
According to Northland Capital Markets, the prior rating for Coherent Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) was changed from Outperform to Market Perform. For the third quarter, Coherent had an EPS of $0.58, compared to year-ago quarter EPS of $0.95. At the moment, the stock has a 52-week-high of $60.46 and a 52-week-low of $26.29. Coherent closed at $55.31 at the end of the last trading period. 
BMO Capital downgraded the previous rating for Xcel Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) from Outperform to Market Perform. In the first quarter, Xcel Energy showed an EPS of $0.76, compared to $0.70 from the year-ago quarter. The stock has a 52-week-high of $77.63 and a 52-week-low of $56.92. At the end of the last trading period, Xcel Energy closed at $63.07. 
Canaccord Genuity downgraded the previous rating for DICE Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DICE#NASDAQ">DICE</a>) from Buy to Hold. For the first quarter, DICE Therapeutics had an EPS of $0.54, compared to year-ago quarter EPS of $0.50. The current stock performance of DICE Therapeutics shows a 52-week-high of $46.75 and a 52-week-low of $13.34. Moreover, at the end of the last trading period, the closing price was at $46.44. 
Exane BNP Paribas downgraded the previous rating for NatWest Group PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NWG#NYSE">NWG</a>) from Neutral to Underperform. In the first quarter, NatWest Group showed an EPS of $0.31, compared to $0.20 from the year-ago quarter. At the moment, the stock has a 52-week-high of $7.79 and a 52-week-low of $4.71. NatWest Group closed at $6.26 at the end of the last trading period. 
Rosenblatt downgraded the previous rating for Quotient Technology Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QUOT#NYSE">QUOT</a>) from Buy to Neutral. In the first quarter, Quotient Technology showed an EPS of $0.18, compared to $0.28 from the year-ago quarter. At the moment, the stock has a 52-week-high of $4.25 and a 52-week-low of $1.68. Quotient Technology closed at $3.90 at the end of the last trading period. 
For DICE Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DICE#NASDAQ">DICE</a>), HC Wainwright &amp; Co. downgraded the previous rating of Buy to Neutral. DICE Therapeutics earned $0.54 in the first quarter, compared to $0.50 in the year-ago quarter. At the moment, the stock has a 52-week-high of $46.75 and a 52-week-low of $13.34. DICE Therapeutics closed at $46.44 at the end of the last trading period. 
Barclays downgraded the previous rating for Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) from Overweight to Equal-Weight. In the first quarter, Tesla showed an EPS of $0.85, compared to $1.07 from the year-ago quarter. The stock has a 52-week-high of $314.67 and a 52-week-low of $101.81. At the end of the last trading period, Tesla closed at $274.45. 
According to Rosenblatt, the prior rating for Coherent Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) was changed from Buy to Neutral. In the third quarter, Coherent showed an EPS of $0.58, compared to $0.95 from the year-ago quarter. The stock has a 52-week-high of $60.46 and a 52-week-low of $26.29. At the end of the last trading period, Coherent closed at $55.31. 
According to Needham, the prior rating for Teleflex Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFX#NYSE">TFX</a>) was changed from Buy to Hold. For the first quarter, Teleflex had an EPS of $3.09, compared to year-ago quarter EPS of $2.88. The current stock performance of Teleflex shows a 52-week-high of $276.43 and a 52-week-low of $182.65. Moreover, at the end of the last trading period, the closing price was at $252.98. 
For The Beauty Health Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKIN#NASDAQ">SKIN</a>), Stifel downgraded the previous rating of Buy to Hold. Beauty Health earned $0.04 in the first quarter, compared to $0.06 in the year-ago quarter. The current stock performance of Beauty Health shows a 52-week-high of $16.00 and a 52-week-low of $7.71. Moreover, at the end of the last trading period, the closing price was at $8.70. 
According to Wolfe Research, the prior rating for Match Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) was changed from Outperform to Peer Perform. For the first quarter, Match Group had an EPS of $0.42, compared to year-ago quarter EPS of $0.60. The current stock performance of Match Group shows a 52-week-high of $79.35 and a 52-week-low of $30.73. Moreover, at the end of the last trading period, the closing price was at $42.42. 
According to Wolfe Research, the prior rating for Peloton Interactive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) was changed from Peer Perform to Underperform. Peloton Interactive earned $0.79 in the third quarter, compared to $1.15 in the year-ago quarter. At the moment, the stock has a 52-week-high of $17.83 and a 52-week-low of $6.62. Peloton Interactive closed at $8.26 at the end of the last trading period. 
For Constellation Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), Keybanc downgraded the previous rating of Overweight to Sector Weight. For the first quarter, Constellation Energy had an EPS of $0.29, compared to year-ago quarter EPS of $0.32. At the moment, the stock has a 52-week-high of $97.77 and a 52-week-low of $52.65. Constellation Energy closed at $91.99 at the end of the last trading period. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings downgrades.</a>
<h3>Initiations</h3>
Northland Capital Markets initiated coverage on CSG Systems International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGS#NASDAQ">CSGS</a>) with an Outperform rating. The price target for CSG Systems Intl is set to $82.00. CSG Systems Intl earned $1.04 in the first quarter, compared to $0.86 in the year-ago quarter. At the moment, the stock has a 52-week-high of $65.91 and a 52-week-low of $47.03. CSG Systems Intl closed at $50.74 at the end of the last trading period. 
For Centessa Pharmaceuticals PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTA#NASDAQ">CNTA</a>), Evercore ISI Group initiated coverage, by setting the current rating at Outperform. Centessa Pharmaceuticals earned $0.53 in the first quarter, compared to $0.60 in the year-ago quarter. At the moment, the stock has a 52-week-high of $5.95 and a 52-week-low of $3.00. Centessa Pharmaceuticals closed at $5.50 at the end of the last trading period. 
With a Buy rating, Craig-Hallum initiated coverage on Semtech Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>). The price target seems to have been set at $35.00 for Semtech. For the first quarter, Semtech had an EPS of $0.02, compared to year-ago quarter EPS of $0.80. The stock has a 52-week-high of $65.51 and a 52-week-low of $17.82. At the end of the last trading period, Semtech closed at $22.61. 
Citigroup initiated coverage on Everest Re Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RE#NYSE">RE</a>) with a Buy rating. The price target for Everest Re Group is set to $406.00. Everest Re Group earned $11.31 in the first quarter, compared to $10.31 in the year-ago quarter. The current stock performance of Everest Re Group shows a 52-week-high of $395.00 and a 52-week-low of $244.67. Moreover, at the end of the last trading period, the closing price was at $352.74. 
With a Buy rating, BTIG initiated coverage on Tidewater Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDW#NYSE">TDW</a>). The price target seems to have been set at $75.00 for Tidewater. For the first quarter, Tidewater had an EPS of $0.23, compared to year-ago quarter EPS of $0.28. The current stock performance of Tidewater shows a 52-week-high of $51.88 and a 52-week-low of $17.55. Moreover, at the end of the last trading period, the closing price was at $45.63. 
DA Davidson initiated coverage on Private Bancorp of America Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PBAM#OTC">PBAM</a>) with a Buy rating. The price target for Private Bancorp is set to $39.00. 
DA Davidson initiated coverage on California Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALB#NASDAQ">CALB</a>) with a Buy rating. The price target for California Bancorp is set to $25.00. California Bancorp earned $0.64 in the first quarter, compared to $0.44 in the year-ago quarter. The stock has a 52-week-high of $26.17 and a 52-week-low of $12.78. At the end of the last trading period, California Bancorp closed at $14.34. 
DA Davidson initiated coverage on Southern Calif Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCAL#NASDAQ">BCAL</a>) with a Buy rating. The price target for Southern Calif Bancorp is set to $17.00. 
DA Davidson initiated coverage on Avidbank Holdings Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AVBH#OTC">AVBH</a>) with a Buy rating. The price target for Avidbank Holdings is set to $24.00. 
With an Outperform rating, RBC Capital initiated coverage on Avantor Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>). The price target seems to have been set at $27.00 for Avantor. In the first quarter, Avantor showed an EPS of $0.29, compared to $0.38 from the year-ago quarter. At the moment, the stock has a 52-week-high of $32.76 and a 52-week-low of $17.92. Avantor closed at $19.65 at the end of the last trading period. 
With an Overweight rating, JP Morgan initiated coverage on Tyler Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>). The price target seems to have been set at $472.00 for Tyler Technologies. In the first quarter, Tyler Technologies showed an EPS of $1.76, compared to $1.90 from the year-ago quarter. The current stock performance of Tyler Technologies shows a 52-week-high of $424.89 and a 52-week-low of $281.32. Moreover, at the end of the last trading period, the closing price was at $391.66. 
Roth MKM initiated coverage on FiscalNote Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOTE#NYSE">NOTE</a>) with a Buy rating. The price target for FiscalNote Holdings is set to $4.75. The current stock performance of FiscalNote Holdings shows a 52-week-high of $12.26 and a 52-week-low of $1.31. Moreover, at the end of the last trading period, the closing price was at $3.42. 
Wolfe Research initiated coverage on Duolingo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) with a Peer Perform rating. For the first quarter, Duolingo had an EPS of $0.06, compared to year-ago quarter EPS of $0.31. At the moment, the stock has a 52-week-high of $168.40 and a 52-week-low of $64.73. Duolingo closed at $150.20 at the end of the last trading period. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings initiations.</a>

Upgrades

Downgrades

Initiation

Intraday Update

Analyst Ratings

ADBE

AVBH

AVTR

BCAL

CALB

CNTA

COHR

CSGS

DICE

DUOL

MTCH

NOTE

PBAM

PTON

QUOT

RAMP

SKIN

SMTC

SPOT

Benzinga's Top Ratings Upgrades, Downgrades For June 21, 2023

National Bank Financial Inc analyst Vishal Shreedhar upgrades Pet Valu Hldgs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PTVLF#OTC">PTVLF</a>) from Sector Perform to Outperform and maintains C$41 price target.

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National Bank Financial Inc Upgrades Pet Valu Hldgs to Outperform, Maintains $41 Price Target

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The Only Monthly Membership With a Positive ROI!

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Wednesday, June 21, 2023