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The past week has been a whirlwind of political news. From Senator Bernie Sanders backing President-elect Donald Trump&#8217;s proposal for a credit card interest rate cap to the passing of former President Jimmy Carter, the news cycle has been nothing short of eventful. Let&#8217;s delve into the top stories of the week.
Bernie Sanders Supports Trump&#8217;s Credit Cap Proposal
Senator Bernie Sanders announced his intention to introduce legislation supporting President-elect Trump&#8217;s proposal to cap credit card interest rates at 10%. This comes as credit card defaults hit their highest levels since the 2008 financial crisis. Major credit card companies such as Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), and American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) saw their stocks decline.
<a href="https://www.benzinga.com/markets/equities/24/12/42737402/bernie-sanders-supports-trumps-credit-card-interest-rate-cap-at-10-amid-highest-defaults-since-2008-visa-and-mastercard-trade-in-the-red">Read the full article here.</a>
Jimmy Carter&#8217;s Passing Mourned by Biden and Trump
President Joe Biden and President-elect Trump expressed their condolences over the passing of former President Jimmy Carter. Biden paid tribute to Carter&#8217;s extraordinary contributions over six decades, referring to him as a dear friend of the nation and the world.
<a href="https://www.benzinga.com/24/12/42716729/jimmy-carter-to-receive-state-funeral-trump-calls-him-truly-a-good-man-biden-mourns-loss-of-extraordinary-leader">Read the full article here.</a>
Trump Accuses Black Celebrities of Paid Endorsements
Trump accused several Black celebrities of receiving payments for endorsing Vice President Kamala Harris earlier this year. Trump voiced his allegations on Truth Social, claiming that Democrats paid significant sums to secure endorsements from celebrities such as Beyoncé, Oprah Winfrey, and Al Sharpton.
<a href="https://www.benzinga.com/news/24/12/42716303/donald-trump-claims-black-celebrities-were-paid-for-kamala-harris-endorsements">Read the full article here.</a>
Billionaires&#8217; Influence in Trump&#8217;s White House Warned by Robert Reich
Former Labor Secretary Robert Reich warned of a network of powerful billionaires, including venture capitalist Peter Thiel and Tesla CEO Elon Musk, exerting unparalleled influence over the U.S. government in Trump&#8217;s second term. Reich refers to this as a "billionaire brain trust" poised to shape key aspects of policy and governance.
<a href="https://www.benzinga.com/tech/24/12/42722137/elon-musk-peter-thiel-and-billionaires-influence-in-trumps-white-house-former-labor-secretary-robert-reichs-warning">Read the full article here.</a>
Trump&#8217;s Response to NOLA Attack
Trump used the deadly New Orleans attack to call for a crackdown on immigration and to criticize the FBI, the Department of Justice, and other agencies. Despite the attacker being born and raised in the U.S., Trump referred to the incident as a good reason to tighten immigration policies.
<a href="https://www.benzinga.com/25/01/42776979/trump-calls-fbi-doj-incompetent-and-corrupt-us-a-laughing-stock-biden-calls-nola-attack-despicable-expresses-sympathy-for-victims-families">Read the full article here.</a>
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<li><a href="https://www.benzinga.com/25/01/42779624/bernie-sanders-says-elon-musk-wrong-on-tech-guest-worker-program-h1-b-visa-purpose-is-to-replace-good-paying-american-jobs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bernie Sanders Says Elon Musk Wrong On Tech Guest Worker Program: H1-B Visa Purpose Is To &#8216;Replace Good-Paying American Jobs&#8217;</a></li>
</ul>
Photo courtesy: Flickr
 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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

News

Politics

Sanders Backs Trump's Credit Cap, Carter's Passing, Trump's Response To NOLA Attack And More: This Week In Politics

In a recent post on Truth Social, President-elect Donald Trump criticized the Manhattan judge who presided over his criminal trial and writer E. Jean Carroll.
What Happened: On Saturday, Trump took to the social media <a href="https://truthsocial.com/@realDonaldTrump/posts/113770089280713901">platform</a> to express his dissatisfaction with Manhattan Supreme Court Justice Juan Merchan, whom he labeled as &#8220;corrupt&#8221;.
Trump was convicted in May&nbsp;on&nbsp;34 felony counts of falsifying&nbsp;business records related to payments to Stormy Daniels. He denounced the charges as &#8220;fake&#8221; and &#8220;made up&#8221;.
Additionally, Trump criticized&nbsp;Manhattan Supreme Court Justice Arthur&nbsp;F. Engoron, who presided over his civil fraud trial. Trump was&nbsp;ordered to pay half a&nbsp;billion dollars in fines in this case, which is currently under appeal. He accused Engoron of undervaluing his Mar-a-Lago property in Palm Beach, Florida.
&#8220;I never falsified business records. It is a fake, made up charge by a corrupt judge who is just doing the work of the Biden/Harris Injustice Department, an attack on their political opponent, ME! He created a case where there was none. Keeps a "gag order" on me so that I can't talk about how crooked he is. The Fake News knows all about it, but they refuse to talk,&#8221; Trump wrote. 
Also Read: <a href="https://www.benzinga.com/news/24/01/36814846/trumps-niece-says-verdict-in-e-jean-carroll-defamation-trial-is-one-of-the-worst-days-in-his-life-do">Trump&#8217;s Niece Says Verdict In E. Jean Carroll Defamation Trial &#8216;Is One Of The Worst Days&#8217; In His Life: &#8216;Donald Is Finally Facing The Consequences&#8217;</a>
&#8220;He may be the most conflicted judge in New York State history. The accountant testified, with total corroboration, that the records were perfect &amp; totally above board. A legal expense was called, on the books, a legal expense. There was nothing else it could have been called. This was the so-called falsifying of records. I was hiding nothing, everything was out in the open for all to see. Every legal scholar of note said there IS NO CASE AGAINST ME,&#8221; Trump added in his post. 
In the same post, Trump referred to E. Jean Carroll as &#8220;the woman I never met&#8221;. Carroll&nbsp;was awarded nearly $100 million&nbsp;in damages after accusing Trump&nbsp;of sexual assault, a claim he has consistently denied.
&#8220;And then we have, also in New York, the woman I never met (celebrity photo lines from 30 years ago don't count!), who was awarded almost $100,000,000. A totally out of control, Trump hating judge, presided. The Biden/Harris DOJ was involved, directly or indirectly, in each of these cases. I won against Deranged Jack Smith!&#8221; Trump wrote in the Truth Social post. 
Why It Matters: This recent outburst from Trump on Truth Social marks another chapter in his ongoing legal battles. His criticism of the judges and Carroll comes at a time when he is facing significant legal challenges, including a criminal conviction and a hefty fine in a civil fraud case. 
His comments also highlight his continued denial of the sexual assault allegations made by Carroll. This situation underscores the tension between Trump and the judicial system, as well as his contentious relationship with his accusers.
Read Next
<a href="https://www.benzinga.com/news/24/04/38240111/unlike-his-behavior-in-e-jean-carroll-case-donald-trump-is-going-to-have-sit-there-in-upcoming-crimi">Unlike His Behavior In E. Jean Carroll Case, Donald Trump Is &#8216;Going To Have Sit There&#8217; In Upcoming Criminal Case, Says Ex-Prosecutor</a>
Image: MidJourney

Trump Targets NYC Judges and E. Jean Carroll Ahead of Hush Money Case Sentencing

The week was filled with stories that kept the business world buzzing. From Elon Musk&#8217;s controversial involvement in German politics to the surge in natural gas prices due to freezing US temperatures, there was no shortage of news. Let&#8217;s dive into the key stories that shaped the weekend.
Elon Musk Accused of Meddling in German Elections
Tesla Inc. CEO Musk has been accused by the German government of attempting to influence the upcoming federal elections. Musk&#8217;s endorsements of the far-right party, Alternative für Deutschland (AfD), have been deemed &#8220;intrusive and presumptuous&#8221; by Friedrich Merz, leader of Germany's largest opposition party.
<a href="https://www.benzinga.com/news/global/24/12/42732904/elon-musk-blasted-as-intrusive-and-presumptuous-for-trying-to-influence-german-elections-toward-far-right-party">Read the full article here.</a>
US Freeze Drives Natural Gas Prices Up
An arctic blast across the US has led to a surge in heating demand, resulting in volatile conditions in energy markets. Natural gas futures saw a significant bounce back, with February contracts climbing by over 2%. The National Weather Center (NWC) predicts continued heavy coastal rains and higher-elevation snow for much of the northwestern U.S.
<a href="https://www.benzinga.com/news/econ-s/25/01/42769181/natural-gas-prices-surge-as-arctic-blast-freezes-us-3-stocks-on-the-move">Read the full article here.</a>
Mortgage Rates Hit Six-Month High
The new year has brought little relief for prospective US homebuyers as mortgage rates have soared to their highest level in six months. The average interest rate on 30-year fixed-rate mortgages climbed to 6.97% in the week ending Dec. 27, 2024, marking the steepest rates since early July.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42764583/mortgage-rates-soar-to-697-applications-crash-jobless-claims-fall-thursdays-econ-data">Read the full article here.</a>
El-Erian Highlights Economic Disparity in the US
Influential economist Mohamed El-Erian pointed out the stark contrast between US "economic exceptionalism" and the struggles of lower-income households in what he calls a "K economy." El-Erian highlighted the growing economic disparity in the United States, noting the significant and increasing challenges faced by lower-income households.
<a href="https://www.benzinga.com/24/12/42735416/el-erian-warns-of-hidden-crisis-in-exceptional-us-economy-as-lower-income-households-face-considerable-challenges">Read the full article here.</a>
El-Erian Cautions Federal Reserve Against Overly Restrictive Policies
El-Erian has raised concerns over the Federal Reserve's potential policy direction for 2025. El-Erian emphasized the importance of the Fed avoiding an overly restrictive stance in the coming year, cautioning that excessively stringent monetary policies could jeopardize the US economy&#8217;s resilience.
<a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42738682/mohamed-el-erian-warns-federal-reserve-needs-to-refrain-from-being-overly-restrictive-in-2025">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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Economics

TSLA

Elon Musk's German Election 'Meddling,' Natural Gas Price Surge, And More: This Week In Economics

CORRECTION: Citigroup analyst Christian Wetherbee maintains FTAI Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) with a Buy and raises the price target from $64.5 to $67 - Retracting this headline, as its incorrect which was published on 3rd Jan 2025.

FTAI

CORRECTION: Citigroup Maintains Buy on FTAI Aviation, Raises Price Target to $67 (Originally Published on 3rd Jan 2025 - Retracting This Headline, As Its Incorrect)

While America is undoubtedly the place to make money and become famous, its invasive celebrity culture, divisive politics or the need for another type of creative inspiration is causing celebrities to flee and relocate to Europe.
Here are some well-known names who have departed the U.S. for foreign climes and their reasons why:
<h2 class="wp-block-heading">Eva Longoria&nbsp;</h2>
Former Desperate Housewives actress turned producer and political activist Eva Longoria is still a major name in Hollywood. Her new movie, &#8220;Alexander and the Terrible, Horrible, No Good, Very Bad Road Trip&#8221; (see the EW feature), is due out in March 2025. However, she no longer calls the U.S. home, deciding to split her time between Spain – where she often works – and her husband José Bastón&#8217;s homeland of Mexico.
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</ul>
The multi-hyphenate star told Marie Claire her reason for living outside the U.S.:
&#8220;I had my whole adult life here. But even before [the pandemic], it was changing. The vibe was different. And then COVID happened and it pushed it over the edge. Whether it&#8217;s the homelessness or the taxes, not that I want to shit on California – it just feels like this chapter in my life is done now.&#8221;
&#8220;I&#8217;m privileged,&#8221; the nine-generation Texan later added. &#8220;I get to escape and go somewhere. Most Americans aren&#8217;t so lucky. They&#8217;re going to be stuck in this dystopian country and my anxiety and sadness is for them.&#8221;
See Also: Unlock the hidden potential of commercial real estate —<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=unlockboost-yahoo"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a>
<h2 class="wp-block-heading">Britney Spears</h2>
After years of conservatorship and intense paparazzi scrutiny of her life, Britney Spears now calls Mexico home.&nbsp;
According to Variety: &#8220;It really kind of hurts my feelings that the paparazzi make my face look like I&#8217;m wearing like a white Jason mask,&#8221; Spears said. &#8220;It doesn&#8217;t even look like me. They&#8217;ve always been incredibly cruel to me, the paparazzi and pictures and the way they&#8217;ve illustrated me to be in some of it.&#8221; Because the treatment has been &#8220;extremely mean and cruel,&#8221; Spears explained, &#8220;That&#8217;s why I&#8217;ve moved to Mexico.&#8221;
<h2 class="wp-block-heading">Lindsay Lohan</h2>
There was a time just over a decade ago when actress Lindsay Lohan was hardly out of the headlines for bad behavior, as a recent CNN story illustrated. Since then, Lohan has kept a fairly low profile, recently coming back in several <a href="https://www.benzinga.com/news/24/12/42342303/netflix-stock-reaches-new-all-time-high-this-week-whats-driving-the-surge">Netflix</a> projects, including the just-released Christmas movie, &#8220;Our Little Secret.&#8221; The reason for Lohan&#8217;s absence from the headlines is because, since 2014, she has called the tabloid-averse Dubai home, telling Flaunt of her adopted home city:
&#8220;It&#8217;s still a city. So it&#8217;s pretty similar. I mean, I do anything that anyone else does in their daily life. I&#8217;m up with my son in the mornings, I do breakfast with him, go to my pilates, come home for lunch and go to the park, the same things that any normal mom would do in their daily life. Or you would do it in LA. I think the only difference is the time zone shift. There&#8217;s a big disconnect between when work starts for me and other places. I can do my work calls with New York at like three or four, around this time and then LA picks up later.&#8221;
<h2 class="wp-block-heading">Ellen DeGeneres</h2>
Comedian, <a href="https://www.benzinga.com/markets/24/10/41148149/inside-ellen-degeneress-real-estate-side-hustle-as-she-reflects-on-life-after-comedy">house flipper</a> and former chat show host Ellen DeGeneres and her wife, Portia de Rossi, have moved to England&#8217;s bucolic Cotswolds. Their move was definitely not career- or palazzi-motivated but rather a response to Donald Trump&#8217;s 2024 election win.
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes-y2">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
<h2 class="wp-block-heading">Lily Collins and Charlie McDowell</h2>
Best known for the series &#8220;Emily In Paris,&#8221; Lily Collins and her husband, Charlie McDowell, relocated to Copenhagen in 2023 after honeymooning there two years earlier. They co-own the media production and real estate company Case Study Copenhagen. Lily, the daughter of Brit-pop/rock legend <a href="https://www.benzinga.com/content/42451185/phil-collins-reflects-on-life-and-drumming-in-new-drumeo-documentary">Phil Collins</a>, has dual British and U.S. citizenship.
<h2 class="wp-block-heading">Janet Jackson</h2>
Being a Jackson means never being out of the spotlight. Perhaps influenced by how the media harangued her brother Michael, Janet Jackson has lived in London since 2016. According to the Guardian, the &#8220;Control&#8221; singer stayed in the UK after her divorce from fashion billionaire Wissam Al Mana, who is from Qatar but lives in London, because they co-parent their son.&nbsp;
<h2 class="wp-block-heading">Richard Gere</h2>
Richard Gere, who currently stars alongside Michael Fassbender and Jeffrey Wright in the political drama The Agency on Paramount+, recently spoke to Vanity Fair Spain about his desire to move to Spain, where his wife Alejandra Silva is from.
&#8220;For me, going to Madrid is going to be a great adventure because I have never lived full-time outside the United States. And I think it will be very interesting for my children as well. For Alejandra, it will be wonderful to be closer to her family, her lifelong friends and her culture. She was very generous in giving me six years living in my world, so I think it is only fair that I give her at least another six living in hers.&#8221;
Gere added, &#8220;In any case, I love Spain and I think your lifestyle is fabulous. Also, your ability to live, transmitting joy and happiness. It is a beautiful place, the food is extraordinary and the people exude sensitivity and generosity, as well as a strong will to laugh and enjoy. So I&#8217;m looking forward to going there.&#8221;
Trending: This Jeff Bezos-backed startup will allow you to <a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=byerscta100">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
<h2 class="wp-block-heading">George and Amal Clooney</h2>
The Clooneys own homes worldwide but have decided that they will raise their children primarily in a château in Brignoles, France, in a home purchased in 2021, according to a story in<a href="https://www.hellomagazine.com/homes/705577/george-and-amal-clooney-set-to-leave-83m-french-chateau-behind-report/"> Hello.</a> The couple&#8217;s search for a &#8220;peaceful life&#8221; was said to have inspired the decision. Their home is a 25-minute drive from Château Miraval, formerly co-owned by George&#8217;s close friend, fellow actor Brad Pitt and ex-wife Angelina Jolie.
<h2 class="wp-block-heading">Christina Milian</h2>
Singer-actress Christina Milian, seen most recently as Detective Maria LaGuerta in the Dexter prequel, told the Jennifer Hudson Show, &#8220;My husband is French and we&#8217;ve been together for over seven or eight years and for like the last three or four years, we were commuting back and forth every six months. And then we decided to commit to it last year because our kids were going to go to school.&#8221;
<h2 class="wp-block-heading">Josh Hartnett and Tamsin Egerton</h2>
Actor Josh Hartnett, seen most recently in M. Night Shyamalan's<a href="https://www.youtube.com/watch?v=hJiPAJKjUVg"> &#8220;Trap&#8221;</a> has called the beatific English countryside home for the last several years, where he lives with his British wife, actor Tamsin Egerton. In 2024, he told the<a href="https://www.theguardian.com/film/article/2024/jul/28/i-didnt-want-to-be-swallowed-up-actor-josh-hartnett-on-swapping-hollywood-for-hampshire"> </a>Guardian, &#8220;I didn&#8217;t want to be swallowed up,&#8221; regarding his move from Hollywood to Hampshire.&nbsp;
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<h2 class="wp-block-heading">Antonio Banderas</h2>
Spanish actor Antonio Banderas may not have been a Hollywood native but had called LA home for many decades while starring in a slew of blockbuster films such as &#8220;Interview with the Vampire&#8221; and &#8220;Evita.&#8221; However, five years ago, the actor decided to trade sun-soaked California for rain-soaked England – Cobham, Surrey, to be precise, where he moved with his partner, Dutch-German financial consultant Nicole Kimpel.
&#8220;I find Surrey completely magical,&#8221; the actor said in an interview with<a href="https://www.thetimes.co.uk/article/zorro-swaps-swashbuckling-for-surrey-banderas-my-stockbroker-belt-magic-m56wstw9p"> </a>The Sunday Times the year following his 2019 purchase. &#8220;I am not a party person anymore, so I have the space and peace to write and really get inside my own head – I am working on several of my own scripts.&#8221;&nbsp;
Banderas added, &#8220;I go cycling in the woods and everyone in Cobham, Weybridge and Esher is incredibly friendly. Above all, I am surrounded by nature. I love watching the deer and foxes that come to my garden.&#8221;
Clearly, the British weather got the best of him because, in 2021, Banderas put his Surrey mansion on the market and moved back to his home city of Malaga in coastal Spain, where, among other projects, he is very involved with the city&#8217;s Soho Theatre.
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Real Estate

These 11 Celebs Have Quietly Moved Out Of The U.S. To Regain Privacy and Political Stability

Despite a generally lackluster year in New York City real estate, the ultrarich sent <a href="https://www.benzinga.com/real-estate/24/09/40977423/44-of-luxury-homes-bought-with-cash-but-this-0-5-fed-rate-cut-could-raise-luxury-home-prices-by-110k">superluxury</a> sales soaring as high as the skyscrapers in which their new homes are housed.&nbsp;
Proving the saying "there's one rule for the rich and another for everyone else," more than $11 billion went into contract for luxury homes priced over $4 million, Bloomberg reported – an 8.5% increase from last year.&nbsp;
&#8220;In terms of the $10 million and above market, what I call the trophy market, it&#8217;s the second-biggest year ever,&#8221; broker Donna Olshan, who compiled a report of the city&#8217;s biggest sales in 2024, said. Specifically, at least 278 contracts were signed at prices of $10 million and above. Olshan added: &#8220;It&#8217;s looking like the same old; the rich get richer and everybody else doesn&#8217;t do as well.&#8221;
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<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl-y2"> you can become an investor for $0.80 per share today.</a></li>
</ul>
<h2 class="wp-block-heading">Record Breaking Prices</h2>
Big spending has lifted luxury Manhattan pricing to new heights. The average asking price for condominiums within that exclusive category is now just over $3,000 a square foot, a record, Olshan said.
The story behind the staggering sales is hardly new. It adheres to the trusted adage "build it and they will come."&nbsp;
&#8220;Here&#8217;s the story,&#8221; Olshan explained. &#8220;That number was completely fueled by new-development sales. People want new. They want freedom of ownership they get with <a href="https://www.benzinga.com/real-estate/24/11/42232442/8-billion-deal-luxe-apartments-and-a-central-park-condo-the-property-portfolio-of-jersey-mikes-founder">condos</a>, they want new infrastructure, they want amenities and so that&#8217;s where they&#8217;re going.&#8221;
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=jeffbezos100"> Here&#8217;s how you can earn passive income with just $100.</a>
<h2 class="wp-block-heading">Co-op Sales Are Flagging</h2>
By contrast, co-op sales in the city were down and town house sales stagnated. &#8220;One big problem is that the huge gap between condos and co-ops continues to grow,&#8221; Olshan continued, referring to the $4 million-plus category. &#8220;Condos outsold co-ops 879 to 265.&#8221;
<h2 class="wp-block-heading">The Biggest Deals Of The Year</h2>
Most of Manhattan&#8217;s biggest sales were condos, many in some of the city&#8217;s most celebrated new developments. Three, in fact, were in the same building.
500 W. 18th St. East Penthouse 26 – $47 million: Designed by envelope-pushing starchitect Bjarke Ingels, the penthouse is located in the West Tower of the One High Line development. The full-floor 7,000 square-foot apartment has six bedrooms and seven-and-a-half baths.
4 E. 79th St – $56 million: This is not a new condo but a mammoth 15,000-square-foot 22-room town house steps from Central Park. Old-school New York glamor with a priceless location, the 130-year-old home is rare, 35 feet wide and entirely renovated.
730 Fifth Ave., 24A – $61.6 million: Located in the coveted condo/hotel Aman in Midtown Manhattan, the buyer, Terence Chan, a private equity executive based in Hong Kong, went into contract six years ago before construction. The 6,300-square-foot apartment contains four bedrooms and five bathrooms.&nbsp;
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=stockmarket-yahoo"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
730 Fifth Ave., 23A – $64 million: What&#8217;s interesting about this 6,300-square-foot condo in the Aman is that the second sale was a flip. The first closed for $50.6 million – in March, likely a pre-construction price agreed years earlier – then sold again for $64 million.
138 W. 11th St.– $72.5 million: A new town house record, this 45-foot wide, 11,000 square foot home comprises two side-by-side homes combined into one. The Wall Street Journal reported that the seller was tied to Dexter Goei, former CEO of Altice USA, who purchased it for roughly $31 million in 2016.
520 Park Ave., Duplex Penthouse 63 – $79 million: One of the most famous luxury condo buildings in Manhattan is 520 Park Avenue, designed by famed architect <a href="https://www.benzinga.com/content/42474776/stunning-robert-a-m-stern-designed-estate-on-georgias-saint-simons-island-to-auction-via-sothebys-co">Robert A.M. Stern</a>. This 8,310-square-foot duplex enjoys an expansive curving central staircase and five bedrooms. The original asking price was $100 million.
220 Central Park South, 18A &amp; 63 – $81.5 million: One sale for two units near the top of Central Park Tower. This unique arrangement included 15 rooms, seven bedrooms and 10 baths.
730 Fifth Ave., 26A – $135 million: The most expensive sale of the year (at the time of writing) was purchased in the Aman in an unfinished state by the building&#8217;s developer Vlad Doronin. No doubt he got a good deal for his investment.
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The Super Rich Go Crazy For New York's Luxury Real Estate As $11 Billion Changes Hands

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) listed six AI trends in a December blog post that it expects to shine in 2025. Here's a look at what one of the most influential AI hyperscalers sees in <a href="https://www.benzinga.com/24/12/42735573/two-magnificent-7-giants-snubbed-in-dan-ives-top-10-tech-winners-for-the-ai-revolution-into-2025-but-palantir-salesforce-and-snowflake-made-the-cut">the year ahead</a>.
AI Models: Microsoft expects AI models to become <a href="https://news.microsoft.com/source/features/ai/6-ai-trends-youll-see-more-of-in-2025/">more capable</a> and more useful in 2025 and pointed to models with advanced reasoning capabilities, such as <a href="https://openai.com/index/introducing-openai-o1-preview/">OpenAI o1</a>. Microsoft said the models will continue to advance and will create new and more useful AI experiences in 2025.&nbsp;
AI Agents: The company listed AI-powered agents, such as Microsoft 365 Copilot, as an example of AI becoming more useful with advancements in memory and reasoning in 2025.&nbsp;
"Think of agents as the apps of the AI era," says Charles Lamanna, Microsoft's corporate vice president of business and industry Copilot.&nbsp;
"Just as we use different apps for various tasks, agents will begin to transform every business process, revolutionizing the way we work and manage our organizations,"&nbsp; Lamanna added.&nbsp;
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AI Companions: Microsoft also touted Copilot as an "AI companion" that will assist users in their daily lives. The company said Copilot will evolve over the coming year to allow users to be more connected and can simply prioritize tasks outside of the workplace.&nbsp;
Scientific Advancements: AI will also enable huge advancements in scientific research, Microsoft said. The company highlighted natural sciences, sustainable materials, drug discovery and human health as areas where AI has the potential to make breakthroughs in 2025.&nbsp;
Energy Efficiency: The AI giant sees a focus on improved energy efficiency in data centers becoming standardized across the industry in 2025. Microsoft reiterated its goal of becoming "a carbon negative, water positive, zero waste company by 2030."&nbsp;
"In 2025 and beyond we're going to increasingly have a holistic view of data centers, energy and resources, so that we can maximize the efficiency of our entire infrastructure," said Mark Russinovich, Azure's chief technology officer, deputy chief information security officer and technical fellow.&nbsp;
AI Safety: Microsoft also revealed that a focus on building AI safely will be an industry trend in 2025.&nbsp;
"One of the biggest developments this coming year can be summarized in two words: testing and customization," Microsoft's blog stated.&nbsp;
The company said it will continue to work to build safe AI applications by developing tough and comprehensive testing.&nbsp;
"Even as models get safer, we need to bring testing and measurement up to the worst of the worst threats that we see — testing that represents a sophisticated adversarial user and what they're able to do," said Sarah Bird, Microsoft's chief product officer of Responsible AI.
"We have the foundation, and we're going to continue to iterate on it moving forward."&nbsp;
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Photo: Shutterstock

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Microsoft Highlights 6 AI Trends For 2025

Mark Cuban, the long-standing&nbsp;face of the Dallas Mavericks, has sold his&nbsp;majority stake in the franchise. The sale, which took place in late 2023, marks the end of Cuban&#8217;s 23-year tenure as the team&#8217;s majority owner.
What Happened: Cuban sold his majority stake for a staggering $3.5 billion. This significant move represents a new chapter for both the Mavericks and Cuban, who played a pivotal role in elevating the team from mediocrity to one of the most respected organizations in the NBA.
In a recent <a href="https://www.youtube.com/watch?v=ppxI5B-M_SI">video</a> interaction, Cuban cited new business ventures and family considerations as the primary reasons for the sale.
&#8220;In&nbsp;a social media world today,&nbsp;the critics of the ownership&nbsp;of any professional sports team&nbsp;can be brutal,&#8221; Cuban said. &#8220;I don&#8217;t&nbsp;want my kids potentially feeling&nbsp;the pressure to walk into&nbsp;my spot as owner and&nbsp;try to deal with that.&#8221;
The majority stake was purchased by Miriam Adelson, widow of late casino tycoon Sheldon Adelson, and her son-in-law, Patrick Dumont, who assumed the role of the team&#8217;s governor.
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Despite the sale, Cuban will retain&nbsp;a 27 percent stake and&nbsp;continue to oversee basketball operations,&nbsp;ensuring the team&#8217;s future remains closely linked to its Dallas roots.
Why It Matters: Under Cuban&#8217;s leadership, the Mavericks underwent a significant transformation, evolving from a struggling team to NBA champions in 2011.&nbsp;His passion for the game&nbsp;and investment in state-of-the-art facilities set a new standard for other franchises. 
&#8220;When&nbsp;I bought the Mavs, it&nbsp;wasn&#8217;t a financial investment,&#8221; Cuban said. &#8220;And honestly, selling it wasn&#8217;t&nbsp;something I was excited to&nbsp;do, but I thought it&nbsp;was the right time to&nbsp;do it. None of this&nbsp;was about economics; it was&nbsp;and is about matters of&nbsp;the heart.&#8221;
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Sports

Success Stories

Mark Cuban on Selling Dallas Mavericks Stake: 'I Didn't Want My Kids Feeling the Pressure of Walking Into My Spot'

VeriSign (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>), the largest internet stock held by Berkshire Hathaway, has been spotlighted <a href="https://www.benzinga.com/markets/24/12/42714309/warren-buffetts-stock-market-advice-ignore-neighbors-whispers-on-stock-tips-focus-on-long-term-value">as a &#8220;top pick&#8221; for 2025 by Citi analysts</a>.
What Happened: In the closing days of 2024,&nbsp;Berkshire Hathaway, under the leadership of&nbsp;Warren Buffett, augmented its stake in VeriSign. With a $2.7 billion stake, Berkshire Hathaway has emerged as the largest shareholder of VeriSign, boasting nearly 14% ownership.
VeriSign, established in 1995, offers&nbsp;domain registration and listing services&nbsp;and is a key player in operating internet infrastructure. It holds the exclusive&nbsp;registry for .com and .net&nbsp;domains and runs&nbsp;two of the 13 global&nbsp;internet root servers.
According to a report <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-favorite-internet-stock-called-top-pick-berkshire-hathaway-2025-1?_gl=1&#x2A;1czjvp&#x2A;_ga&#x2A;MTg0NzY4ODM4Mi4xNjg2OTgyMzcy&#x2A;_ga_E21CV80ZCZ&#x2A;MTczNTk3OTk5OC43MDIuMS4xNzM1OTgwMTk4LjIzLjAuMA..">by</a> Business Insider, Citi analysts have projected a promising 2025 for VeriSign, setting a $238 price target, which indicates a potential upside of 16% from the current levels. In an optimistic scenario, Citi predicts the stock could escalate to $312, suggesting a potential upside of over 50%.
&#8220;We view Verisign as being one of the safer plays in Internet with a narrower range of outcomes given its almost utility-like nature as a domain registry, ability to pass on regular price increases that leads to a resiliant top-line, and best in class EBITDA margins, providing what we believe to be an attractive risk/reward for investors,&#8221; the Citi analyst told the outlet.
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VeriSign ranks among the top five&nbsp;most profitable companies in the&nbsp;S&amp;P 500, securing the fifth position for the highest profit margin and third for operating margin. Citi has expressed positivity regarding the&nbsp;recent month-over-month growth in .com&nbsp;domain registrations, which could signify year-over-year growth in 2025.
Despite&nbsp;a tough year, with the&nbsp;stock experiencing a mere 2% rise&nbsp;compared to a 23% gain&nbsp;for the S&amp;P 500, Citi maintains that VeriSign&#8217;s current valuation positions it as&nbsp;a top stock pick for&nbsp;2025.
Why It Matters: The endorsement from Citi comes as a significant development for VeriSign. 
The company&#8217;s performance and Berkshire Hathaway&#8217;s increased stake in it underline its potential for growth. With the internet domain industry expected to expand, VeriSign&#8217;s exclusive rights to .com and .net domains could further bolster its position. 
The company&#8217;s high profitability and Citi&#8217;s optimistic projections make it a stock to watch in 2025.
Read Next
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Image: Shutterstock

Markets

VRSN

This Warren Buffett-Backed Stock Is A 2025 'Top Pick' With Big Gains Ahead, Says Analyst

Every great investor has a different favorite sector, but two things they have in common are excellent vision and timing. It's not that they win every time, but more often than not, their instincts are proven right in the long run. With that in mind, Cathie Wood's recent purchase of five million shares of Archer Aviation stock takes on a different meaning now that the company has announced a reverse stock split.
Cathie Wood, the CEO of<a href="https://www.benzinga.com/24/12/42664623/cathie-wood-led-ark-invests-monday-moves-dumps-tesla-palantir-stock-adds-amazon"> ARK Invest</a>, has always had a reputation for making aggressive trades in the tech sector. So, when she bought five million shares of vertical takeoff and landing (VTOL) company Archer Aviation in late 2023, it looked like par for the course. At the time, Archer shares were trading below $10 per share, which created tremendous upside for traders with the means to buy millions of shares at a time.
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Archer's business model revolves around developing personal flight vehicles that serve as "<a href="https://www.benzinga.com/content/42677924/could-the-mysterious-drone-sightings-be-evtol-air-taxis">air taxis</a>" to move travelers from place to place much more easily than cars. It's a concept from The Jetsons or a 1960s television show trying to envision what transportation would look like in the 21st century. At the time of Wood's purchase, which was split over several months, several positive developments occurred at Archer.
In December, Archer partnered with Anduril, a defense contractor making autonomous military applications and products. Archer paired that announcement with the news that it had raised another $340 million in capital from United Airlines and Stellantis, who both own equity in Archer. It looked like all systems were going for a big 2025 and then Archer announced a reverse stock split.
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At a Dec. 20 shareholders meeting, Archer shareholders approved a proposal to &#8220;increase the number of authorized shares of the Company&#8217;s Class A common stock available for issuance from 700,000,000 to 1,400,000,000.&#8221; The company also changed its bylaws to limit ownership, control or even investment in the company to American citizens.
That change may be related to Archer's new partnership with Anduril. If the company will be providing products and services under military contracts, it's likely they will focus heavily on the U.S. defense industry. Having foreign ownership of a company with that kind of profile and client base may compromise its ability to work on top-secret projects.
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However, news of the stock split sent Archer's share price downward from the $11 range to its current price of $9.75. That might provide a golden opportunity for Cathie Wood to buy even more shares. It remains to be seen whether she will, but it does seem clear that she's a big believer in Archer Aviation's long-term future. If you missed the chance to jump in when the price was under $10, you can still buy the dip before this stock rebounds.
Either way, Cathie Wood and ARK Investments will come out ahead. Public records show that Ark's initial purchase of 2.5 million shares occurred between Oct. 28 and November 13th, when<a href="https://www.benzinga.com/quote/ACHR"> Archer</a> was available for $3.20 and $4.20. She bought 2.5 million more shares on December 13th for $7.39 per share. So, even with the dip in share price due to the stock split, buying five million Archer shares was a winning trade for Cathie Wood.
Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today.<a href="https://smartasset.com/retirement/find-a-financial-planner?utm_source=benzinga&amp;utm_campaign=ben&amp;utm_content=y2_5MilNestEgg"> SmartAsset&#8217;s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost</a> to decide which one is right for you.&nbsp;
<h2 class="wp-block-heading">Interest Rates Are Falling, But These Yields Aren't Going Anywhere</h2>
Lower interest rates mean some investments won't yield what they did in months past, but you don't have to lose those gains. Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities.
<a href="https://www.benzinga.com/go/arrived-private-credit-yf">Arrived Home's Private Credit Fund&#8217;s has historically paid an annualized dividend yield of 8.1%&#x2A;</a>, which provides access to a pool of short-term loans backed by residential real estate. The best part? Unlike other private credit funds, <a href="https://www.benzinga.com/go/arrived-private-credit-yf">this one has a minimum investment of only $100.&nbsp;</a>
Looking for fractional real estate investment opportunities? The <a href="https://www.benzinga.com/alternative-investments/real-estate">Benzinga Real Estate Screener</a> features the latest offerings.&nbsp;

Cathie Wood Buys 5 Million Shares Of This Aviation Stock Selling For Under $10/Per Share – Is It A Good Buy For You?

In an investment world often driven by speculation and fleeting trends, Warren Buffett's insights serve as a reminder that solid principles are the <a href="https://www.benzinga.com/news/stock-split/24/12/42716194/how-warren-buffett-decides-when-to-sell-a-stock-if-the-competitive-advantage-disappears-we-sell">foundation of successful investing</a>.
As Buffett humorously points out, the rules of math don't change—when the market becomes irrational, it's often a signal to step back, wait for reality to realign, and seize opportunities when prices reflect true value.
Buffett marked his 50th year at the helm of Berkshire Hathaway in 2015. Buffett&#8217;s annual letter to shareholders disclosed that a successor has been prepared to step in when Buffett decides to retire or passes away. Buffett expressed his confidence in the successor, stating that they would outperform him in certain areas.
In his letter, Buffett also shared his views on investment strategies, cautioning shareholders to be wary when financial markets seem disconnected from reality. He suggested taking a pause and returning to buy stocks when prices are more affordable.
&#8220;Periodically, financial markets will become divorced from reality – you can count on that. Never forget that 2+2 will always equal 4. And when someone tells you how old-fashioned that math is, zip up your wallet, take a vacation and come back in a few years to buy stocks at cheap prices.&#8221; Buffett said during the annual shareholder <a href="https://www.youtube.com/watch?v=zh0L7ObIFHQ&amp;t=7s">meet</a> in 2015. 
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/24/12/42638957/warren-buffetts-timeless-advice-if-youre-gonna-do-dumb-things-because-your-stock-goes-down-you-shouldnt-own-a-stock-at-all" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Timeless Advice For Investing $10,000: ‘If You&#8217;re Gonna Do Dumb Things Because Your Your Stock Goes Down, You Shouldn't Own A Stock At All'</a>
Buffett also highlighted the company&#8217;s active audit function and praised Airbnb&#8217;s efforts to provide accommodations for shareholders attending the annual meeting in Omaha. He also spoke about the spectacle of the meeting, which includes a parade featuring Texas longhorns and a Wells Fargo stagecoach.
Buffett&#8217;s advice on investment strategies also provides valuable insights for shareholders. His caution against buying stocks when markets seem disconnected from reality is particularly relevant in today&#8217;s volatile financial climate.
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Warren Buffett's Advice for Overpriced Stocks: 'Zip up Your Wallet, Take a Vacation, and Come Back in a Few Years To Buy Stocks at Cheap Prices'

The man responsible for the detonation of a Tesla Cybertruck in front of the Trump International Hotel in Las Vegas on Wednesday morning had previously <a href="https://www.benzinga.com/general/entertainment/25/01/42757028/tesla-cybertruck-ignites-outside-trump-international-hotel-in-las-vegas">called for a violent purge of Democrats</a>.
What Happened: 37-year-old Matthew Livelsberger carried out the attack, injuring seven people before taking his own life. According to a report <a href="https://www.8newsnow.com/news/local-news/police-to-release-more-details-at-in-las-vegas-new-years-day-explosion/">by</a> KLAS, the Las Vegas CBS affiliate, Livelsberger left behind notes on his phones and laptop found in the burned-out vehicle.
These notes revealed the Green Beret&#8217;s call to fellow service members and others dissatisfied with the country&#8217;s direction to instigate a &#8220;purge&#8221; of Washington, with Democrats as the primary target.
The note confirmed by the police <a href="https://www.8newsnow.com/wp-content/uploads/sites/59/2025/01/PO-003a-01-03-25-Livelsbergers-Letters-1.pdf">read</a>, &#8220;TIME TO WAKE UP! We are being led by weak and feckless leadership who only serve to enrich themselves. Military and vets move on DC starting now. Militias facilitate and augment this activity. Occupy every major road along fed buildings and the campus of fed buildings by the hundreds of thousands. Lock the highways around down with semis right after everybody gets in. Hold until the purge is complete. Try peaceful means first, but be prepared to fight to get the Dems out of the fed government and military by any means necessary. They all must go and a hard reset must occur for our country to avoid collapse.&#8221;
In another note, Livelsberger expressed his resentment towards the country&#8217;s&nbsp;wealthy and the direction of&nbsp;its culture. 
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He&nbsp;praised President-elect Donald Trump and&nbsp;Trump allies Robert F. Kennedy&nbsp;Jr. and Elon Musk, while criticizing&nbsp;President Joe Biden, Vice President&nbsp;Kamala Harris, and diversity, equity,&nbsp;and inclusion initiatives.
&#8220;Consider this last sunset of ‘24 and my actions the end of our sickness and a new chapter of health for our people. Rally around the Trump, Musk, Kennedy, and ride this wave to the highest hegemony for all Americans! We are second to no one,&#8221; he wrote.
Why It Matters: Livelsberger&#8217;s actions and messages highlight a deeply troubled individual, who resorted to violence to express his dissatisfaction with the current state of affairs in the country. 
His call for a &#8220;purge&#8221; of Democrats and his praise for certain political figures underscore the deep political divides and heightened tensions within the nation. 
This incident serves as a stark reminder of the potential for violence that can stem from such extreme ideologies.
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Trump Hotel Bomber's Chilling Messages Unearthed: 'TIME TO WAKE UP, Fight To Get Dems Out of Fed Government and Military by Any Means'

Imagine running a business for most of your life, pouring in hard work, sweat and dedication and then, one day, it's no longer yours. That's exactly what happened to a 43-year-old former tire and auto repair shop owner who <a href="https://www.benzinga.com/news/24/12/42714002/whats-the-feeling-when-you-become-a-millionaire-kevin-oleary-shares-his-take-on-the-defining-moment">recently sold</a> his third-generation family business and shared his story on the popular r/small business <a href="https://www.reddit.com/r/smallbusiness/comments/1hnyik9/sold_my_business_yesterday_crazy_feeling/">subreddit</a>. After years of relentless effort, he finally stepped away and now, he's trying to figure out what comes next.
<h2 class="wp-block-heading">A Legacy Passed Down</h2>
The business had been a staple in the community since its founding by his grandfather. He had worked in the shop since he was 12 and officially took over 16 years ago. Eight years ago, he bought the business outright from his parents. It was his life, his identity and his passion.
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But the business world is ever-changing. He had built the shop into a powerhouse, focused on top-tier customer service and well-compensated employees. Yet, the challenges of the auto repair industry weighed heavily on him. "Technicians are nearly impossible to find and that is only going to get worse," he shared. "Kids don&#8217;t want to be mechanics or if they think they do, after a short while they change their mind."
<h2 class="wp-block-heading">An Industry in Flux</h2>
The auto repair industry isn't what it used to be. The landscape has shifted dramatically with the rise of electric vehicles (EVs). "I'm in California, so EVs are an issue. <a href="https://www.benzinga.com/news/24/03/37954402/ev-owners-may-have-bigger-cool-factor-but-their-tires-are-literally-tiring-them-out-more-than-gas-ca">There is nothing to fix on them, just tires</a>. They go through tires very quickly, but I couldn&#8217;t make it on just tires – too competitive and insufficient profit. I need brake jobs, water pumps, ball joints, struts, etc. That's where the money is at."
Meanwhile, <a href="https://www.benzinga.com/money/largest-brokerage-firms-in-the-u-s">large investment firms</a> have steadily bought well-established shops, consolidating the market. "There's been a few very large investment companies buying up shops for several years. I&#8217;ve watched many of my friends get bought out. It was my turn, finally."
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<h2 class="wp-block-heading">Day One: A New Reality</h2>
The day after selling his business, the reality hit him hard. For decades, he'd been up at the crack of dawn, running the shop and managing employees. But on his first day of freedom, he was … lost.
"When I woke up at 7 a.m., I was shocked. Normally, I would have already been at the shop for an hour at that time," he said. Instead, he spent the day making breakfast for his family, cleaning the garage, hitting the gym and even getting a massage. A far cry from the grueling schedule he'd been used to.
Even so, he couldn't quite let go. "I only checked the cameras 11 times today to see how my guys were doing."
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<h2 class="wp-block-heading">What's Next?</h2>
Selling the business has given him something he's never had before: time. Time to spend with his family, explore hobbies and think about what's next. He plans to <a href="https://www.benzinga.com/startups/24/09/40776473/it-was-boring-kevin-oleary-explored-every-beach-on-earth-after-he-first-got-rich-but-the-highs-and-l">take at least a year off</a> but keeps his eyes open for opportunities.
The sale was a mix of relief and nostalgia. "It's worth it. Push hard, then get out when the time is right. I think I timed it perfectly. Now, the fun begins."
<h2 class="wp-block-heading">Reactions</h2>
This story evoked many reactions. One person said they sold their business too, stressing the importance of selling at the right time. Another talked about how hard it is to find good mechanics these days, saying it's a problem everyone in the industry faces.&nbsp;
A few people were worried that big companies buying family-owned businesses could hurt workers and customers. On the funny side, one commenter joked, "So you were … tired?" showing that even serious topics can bring out humor. These comments show how many people relate to the ups and downs of owning a business.
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'Now, The Fun Begins' – A 3rd Generation Business Owner Sold His Business Recently And Shared How Shocked He Was The Day After

Real estate investing can get creative, especially when taxes are involved. Just ask Seattle-based investor Ludomir Wanot. He's found a way to pair savvy property deals with massive tax incentives that could slash his taxable income. His big focus for 2025? Mobile home parks.
Wanot, who built his wealth through <a href="https://www.benzinga.com/money/how-to-invest-in-real-estate">long-term rentals,</a> sees mobile home parks as a win-win. For him, it's all about the numbers. &#8220;The government actually allows you to depreciate at least up to 60% of the purchase price of the value of the asset in year one,&#8221; he explained to Business Insider. Translation? If he buys a property for $1 million, like he did in New York, he can write off up to $600,000 in the first year. "That basically reduced my taxable income to zero."
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But it's not just about the tax break. Wanot likes that mobile home parks provide affordable housing while letting him rebuild communities. "I'm providing housing for people that only make maybe $1,000 a month, at a significantly lower rate, around $200 a month," he said. And while he's helping his tenants, he's also reaping big incentives from Uncle Sam.
Finding Deals In A Tough Market
Other investors are gearing up for <a href="https://www.benzinga.com/money/types-of-real-estate-investments">different strategies. </a>Mike Zuber, who built a rental empire in Fresno, California, says 2025 will be all about spotting motivated sellers. "I think there are some people that will just have to sell – life events, death, divorce, all of that," Zuber explained to BI. With rising costs keeping buyers out of the market, he's betting those dated, less-than-perfect homes will end up in investors' hands.
&#8220;I'm prepared to write offers that make sense at a high cost of capital,&#8221; he said. For Zuber, patience is key.
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Playing The Long Game
Meanwhile, Dion McNeeley, another seasoned investor, is weighing a strategic sale of one of his properties. By leveraging an IRS rule, McNeeley could defer taxes on his gains and funnel them into another deal. This kind of move, known as a 1031 exchange, lets investors swap properties without triggering a hefty tax bill.
Whether it's mobile home parks, off-loading a property or waiting for deals, these investors are thinking ahead. For Wanot, the $600,000 tax play underscores just how much real estate can still deliver – if you know where to look and how to play the game. He said, "It's all about using the system to your advantage," he told BI.
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The $600,000 Tax Move One Investor Is Banking On Next Year

Personal finance expert <a href="https://www.benzinga.com/personal-finance/24/12/42625459/listener-asks-suze-orman-how-to-stop-her-mother-from-wasting-money-on-life-insurance-orman-says-do-a-prepaid-funeral">Suze Orman</a> recently addressed a listener's question about protecting her financial assets for her children during a second marriage. On a <a href="https://omny.fm/shows/suze-ormans-women-and-money/ask-kt-and-suze-anything-why-buying-a-condo-can-en">recent episode</a> of the Women &amp; Money podcast, Orman provided advice to Susan, who is navigating financial decisions after marrying her high school sweetheart at age 67.&nbsp;
Susan explained her situation: she's selling a home in California that she inherited from her mother and expects a $700,000 profit.&nbsp;
 "I may invest 200 to 300,000 of it in our eventual second home," Susan wrote. "If we sell his home as well, my plan is that we will both contribute equal amounts to the new home. The rest I would like to put in a combination of Alliant CDs and maybe a Vanguard VOO."
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Susan and her husband have children from previous marriages and they want to ensure that their respective children inherit their individual assets.&nbsp;
Orman acknowledged Susan's heartfelt story but emphasized safeguarding her <a href="https://www.benzinga.com/personal-finance/24/11/41865970/parents-want-to-take-away-inheritance-from-daughter-not-living-according-to-the-bible-dave-ramsey-says-dont-use-this-as-punishment">children's inheritance</a>. One of Orman's main recommendations was to avoid titling the property as joint tenants with right of survivorship.&nbsp;
"If you were to die, your half automatically goes to him," Orman said. "How you hold title to property overrides the wishes of your trust, your will, his trust and his will." This would potentially leave Susan's children disinherited from her assets tied to the home.&nbsp;
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Instead, Orman recommended holding the property as tenants in common, a structure that allows each spouse to specify how their share of the property will be distributed upon their death. Through a trust, Orman explained that Susan could ensure her portion of the property goes to her children while her husband's share goes to his children.&nbsp;
Orman also suggested adding a life estate clause in the trust. This would grant the surviving spouse the right to live in the property for the remainder of their life while preserving the ultimate <a href="https://www.benzinga.com/startups/24/11/41866296/with-warren-buffett-donating-99-of-his-fortune-whats-left-for-his-three-children-well-its-complicated">inheritance for the children</a>.
Regarding the remaining $400,000 to $500,000 from Susan's home sale, Orman advised prioritizing safety and liquidity. She suggested a combination of Alliant Credit Union CDs, Treasury notes or a government money market account at Schwab. These options align with Susan's goal of keeping the funds secure and accessible while earning modest returns.
For those considering growth investments, Orman recommended caution, suggesting Susan wait until she has more clarity about her long-term financial needs.
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Orman's advice highlights a broader financial principle: in blended families, it's essential to structure asset ownership carefully to preserve inheritance plans. Even in the happiest of marriages, misunderstandings or legal oversights can lead to unintended consequences.
By maintaining separate accounts and clearly defining ownership through a trust or legal agreement, couples can honor their commitments to each other while protecting their <a href="https://www.benzinga.com/personal-finance/24/12/42489400/is-it-better-to-leave-children-a-401k-or-cash-suze-orman-proposes-a-3rd-option-but-adds-stop-worrying-about-the-kids">children's financial future</a>.
While Susan's situation is unique, Orman's advice resonates with many older adults navigating second marriages. Open communication, proper estate planning and the right financial strategies can ensure everyone involved – spouses and children alike – benefits from clarity and fairness.
For those facing similar decisions, consulting with a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> or estate planning attorney can provide personalized guidance and peace of mind.
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Personal Finance

'Keep It Separate': Suze Orman Warns Listener About Protecting Her Children's Inheritance When Buying A Home With A New Spouse

The European Union&#8216;s (EU) USB-C directive has officially come into force, mandating a universal charging port for electronic devices. The directive, effective from 2025, requires mobile <a href="https://www.benzinga.com/24/12/42736387/eu-usb-c-directive-kicks-in-what-it-means-for-you-your-devices-and-the-planet" target="_blank" rel="noreferrer noopener">phones to feature a USB-C port</a>.
Cyberhaven, a data-loss prevention startup, has confirmed a security breach involving its&nbsp;Google Chrome&nbsp;browser extension. Hackers managed to release a malicious update capable of stealing user <a href="https://www.benzinga.com/24/12/42712841/google-chrome-users-beware-this-holiday-season-cyber-security-firms-browser-extension-hijacked-by-attackers" target="_blank" rel="noreferrer noopener">passwords and session tokens</a>.
President-elect&nbsp;Donald Trump has sought a &#8220;political resolution&#8221; of the TikTok ban, urging the Supreme Court to&nbsp;postpone a&nbsp;law that threatens to <a href="https://www.benzinga.com/24/12/42712643/trump-asks-supreme-court-to-delay-tiktok-ban-as-he-pursues-a-political-resolution" target="_blank" rel="noreferrer noopener">block the social media app</a>.
Venezuela's Supreme Court has levied a $10 million fine against&nbsp;ByteDance-owned&nbsp;TikTok&nbsp;for its alleged failure to curb the <a href="https://www.benzinga.com/25/01/42758430/tiktok-fined-10-million-in-venezuela-as-supreme-court-blames-platform-for-failing-to-prevent-deadly-viral-challenges" target="_blank" rel="noreferrer noopener">spread of&nbsp;hazardous viral challenges</a>.
Streaming &amp; Music Platforms
Explicit content has been discovered in&nbsp;Spotify Technology S.A.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) search results, sparking user outrage over apparent moderation loopholes. A Reddit user shared a screenshot showing a pornographic video appearing in <a target="_blank" href="https://www.benzinga.com/media/24/12/42716915/spotify-users-discover-adult-content-hidden-in-search-results-sparking-outrage-over-moderation-loopholes" rel="noreferrer noopener">search results for British rapper&nbsp;</a><a target="_blank" href="https://www.benzinga.com/media/24/12/42716915/spotify-users-discover-adult-content-hidden-in-search-results-sparking-outrage-over-moderation-loopholes" rel="noreferrer noopener">M.I.A</a>.
Netflix, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) Squid Game&nbsp;is back in the spotlight&nbsp;with its second season, and fans are buzzing <a target="_blank" href="https://www.benzinga.com/general/entertainment/25/01/42759975/squid-game-season-3-everything-you-need-to-know-about-the-thrilling-finale-coming-in-2025" rel="noreferrer noopener">about the third and final season</a>.
Smartphones
Samsung Electronics Co.&#8217;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) Galaxy S25 Slim, identified as model SM-S937, is reportedly not launching&nbsp;alongside the rest&nbsp;of <a target="_blank" href="https://www.benzinga.com/media/24/12/42717053/galaxy-s25-slim-delayed-samsungs-sleek-new-model-wont-reportedly-be-part-of-the-first-wave-in-early-2025" rel="noreferrer noopener">the&nbsp;</a><a target="_blank" href="https://www.benzinga.com/media/24/12/42717053/galaxy-s25-slim-delayed-samsungs-sleek-new-model-wont-reportedly-be-part-of-the-first-wave-in-early-2025" rel="noreferrer noopener">S25</a><a target="_blank" href="https://www.benzinga.com/media/24/12/42717053/galaxy-s25-slim-delayed-samsungs-sleek-new-model-wont-reportedly-be-part-of-the-first-wave-in-early-2025" rel="noreferrer noopener">&nbsp;series in early 2025</a>.
Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has stopped selling its&nbsp;iPhone 14, iPhone 14 Plus,&nbsp;and third-generation iPhone SE models across <a target="_blank" href="https://www.benzinga.com/24/12/42712752/apple-halts-iphone-14-iphone-se-sales-in-eu-heres-why" rel="noreferrer noopener">most EU countries</a>.
A new leak reiterates that&nbsp;Apple&nbsp;is reportedly set to&nbsp;improve the display technology&nbsp;in its upcoming&nbsp;iPhone 17&nbsp;series. Over the weekend, Weibo-based Chinese leaker&nbsp;Digital Chat Station&nbsp;said that supply chain materials support the rumors of a <a target="_blank" href="https://www.benzinga.com/tech/24/12/42736353/iphone-17-to-get-display-upgrade-as-apple-finally-ditches-60hz-technology-new-leak-reiterates-possibility" rel="noreferrer noopener">higher refresh rate for the standard iPhone 17</a>.
Apple is offering discounts of up to 500 yuan ($68.50) on its&nbsp;iPhone 16&nbsp;models in China as it&nbsp;faces increasing competition&nbsp;from&nbsp;Huawei Technologies. Apple has launched a rare promotional event in China, set <a target="_blank" href="https://www.benzinga.com/media/25/01/42759147/apple-discounts-iphone-16-prices-in-china-by-up-to-68-5-as-it-battles-huaweis-resurgence-in-the-country" rel="noreferrer noopener">to run from Jan. 4 to Jan. 7, 2025</a>.
Read: <a target="_blank" href="https://www.benzinga.com/tech/24/12/42739523/apple-amazon-samsung-and-nintendo-what-tech-marvels-are-these-giants-cooking-in-2025" rel="noreferrer noopener">Apple, Amazon, Samsung, And Nintendo: What Tech Marvels Are These Giants Cooking In 2025</a>
Technology &amp; Artificial Intelligence (AI)
Amid a surge in demand for AI chip package substrates,&nbsp;Ibiden Co.,&nbsp;a significant supplier for&nbsp;Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), is evaluating the possibility of hastening its production capacity expansion. This move comes as the company aims to keep pace with <a target="_blank" href="https://www.benzinga.com/tech/24/12/42718022/days-after-key-nvidia-supplier-warned-of-ai-spending-slowdown-another-nvda-partner-considers-accelerating-expansion-to-meet-growing-demand" rel="noreferrer noopener">the growing needs of the AI industry</a>.
Cathie Wood, CEO and CIO of&nbsp;Ark Invest&nbsp;shared her optimistic outlook for 2025, highlighting advancements in robotics, energy storage, artificial intelligence, <a target="_blank" href="https://www.benzinga.com/25/01/42758213/cathie-woods-ark-invest-predicts-explosive-growth-in-2025-innovation-is-going-to-scale-dramatically-as-the-economy-begins-to-get-rid-of-regulations-under-this-new-administration" rel="noreferrer noopener">blockchain technology, and multiomics</a>.
Encode, a nonprofit organization, has joined forces with&nbsp;Elon Musk in a legal effort to prevent&nbsp;OpenAI&nbsp;from transitioning into a for-profit entity. This move comes as Encode files a request to submit an <a target="_blank" href="https://www.benzinga.com/24/12/42712824/elon-musks-legal-battle-against-openais-for-profit-transition-joined-by-non-profit-encode" rel="noreferrer noopener">amicus brief in support of Musk's injunction</a>.
Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)-backed OpenAI has revealed its plans to evolve into a Delaware Public Benefit Corporation (PBC). The company aims to balance shareholder and stakeholder interests <a href="https://www.benzinga.com/24/12/42712683/openai-lays-out-its-for-profit-transition-plans-says-it-must-evolve-to-advance-its-agi-mission" target="_blank" rel="noreferrer noopener">while maintaining its public benefit mission</a>.
Image: Shutterstock

AAPL

NFLX

NVDA

SPOT

SSNLF

Consumer Tech News (Dec 30-Jan 3): Apple Stops Selling iPhone 14, iPhone 14 Plus, iPhone SE, Trump Seeks A 'Political Resolution' Of TikTok Ban & More

In a move that has left millions of Americans perplexed, the <a href="https://www.benzinga.com/personal-finance/24/10/41207039/bidens-presidency-hits-hard-households-now-forking-over-2-500-more-annually-for-groceries-can-yo">Biden administration</a> quietly canceled two major student loan forgiveness plans.&nbsp;
These proposals were supposed to be lifelines for borrowers drowning in debt after years – or even decades – of repayment struggles. But now, the plans have been shelved, leaving many borrowers wondering what's next.
The U.S. Department of Education announced the withdrawal in a notice in the Federal Register, citing "operational challenges" as the reason for the sudden withdrawal. The department is shifting its focus to helping at-risk borrowers return to repayment plans.&nbsp;
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For perspective, the numbers are staggering: more than 43 million Americans owe a combined $1.7 trillion in student loan debt. These now-canceled plans, often called "Plan B," were supposed to pick up the pieces after the Supreme Court rejected Biden's original effort to forgive up to $400 billion in June 2023.&nbsp;
That initial plan could have helped 40 million borrowers, but the court&#8217;s ruling forced the administration to regroup. Plan B was designed to provide targeted relief for those facing unique hardships such as <a href="https://www.benzinga.com/personal-finance/24/12/42728529/suze-orman-warns-medicare-doesnt-cover-everything-why-you-need-2000-for-drugs-and-1676-for-hospital-costs-in-2025">medical bills</a>, child care costs or even natural disasters.&nbsp;
The decision has drawn mixed reactions. Persis Yu, deputy executive director of the Student Borrower Protection Center, didn't hold back her disappointment. "President Biden's proposals would have freed millions from the crushing weight of the student debt crisis and unlocked economic mobility for millions more workers and families," Yu said.
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Not everyone saw these plans as the solution, though. Critics of broad student loan forgiveness have long argued that it's unfair to saddle taxpayers – especially those who didn't go to college or have already paid off their loans – with the bill.&nbsp;
"The Biden Administration is not forgiving debt; they&#8217;re just transferring the responsibility to pay it back from those who willingly took on the loan," Sen. Bill Cassidy said on his <a href="https://www.youtube.com/watch?v=kgK7hMfFj88">YouTube channel</a>.&nbsp;
While the decision to scrap Plan B was a setback for broad forgiveness efforts, the administration hasn't abandoned debt relief entirely. On the same day the administration announced the withdrawal, it approved $4.28 billion in loan forgiveness for nearly 55,000 public service workers under the Public Service Loan Forgiveness (PSLF) program.&nbsp;
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PSLF wipes out loans for government and nonprofit employees who have made consistent payments for 10 years. The Teacher Loan Forgiveness program can provide up to $17,500 in relief for teachers in low-income schools as per Federal Student Aid.&nbsp;
Mark Kantrowitz, a well-known higher education expert, said the timing of the withdrawal wasn't surprising. "The Biden administration knew that the proposals for broad student loan forgiveness would have been thwarted by the Trump administration," Kantrowitz told CNBC. Trump has been a vocal critic of loan forgiveness, calling Biden's plans "vile" and "illegal."
Borrowers still hoping for relief have options. Federal resources like Studentaid.gov offer information on loan forgiveness programs and groups like The Institute of Student Loan Advisors can help borrowers explore state-specific opportunities.
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Plans To Forgive $4.28 Billion In Student Loans For 54,900 Borrowers Halted – What This Means For Millions Still Drowning In Debt

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The Nasdaq and S&amp;P 500 ended a five-day losing streak on Friday, but the week closed with the S&amp;P down 0.48%, the Dow losing 0.60%, and the Nasdaq dropping 0.51%.
Rising Treasury yields, including a 30-year high of 4.8%, raised borrowing cost concerns and drove record December outflows from the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), as markets carried weak momentum <a href="https://www.benzinga.com/government/regulations/25/01/42796485/goodbye-santa-rally-tesla-falters-on-deliveries-investors-flee-bonds-ahead-of-trumps-second-term-this-week-in-the-market">into the new year.</a>
Meanwhile, the U.S. manufacturing sector showed signs of stabilization in December, with the ISM Manufacturing PMI climbing to 49.3%, its highest since April 2024, though still marking the <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42790042/us-manufacturing-activity-tops-expectations-in-december-rises-to-9-month-highs">ninth consecutive month of contraction.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/24/12/42751367/netflix-posts-record-debut-with-squid-game-season-2-heres-how-many-people-watched-show">Netflix Posts Record Debut With &#8216;Squid Game&#8217; Season 2: Here&#8217;s How Many People Watched Show</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) achieving 68 million views for &#8220;Squid Game&#8221; Season 2 in its first week, setting a company record, alongside NFL Christmas Day games driving additional subscriber engagement.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42758813/shytoshi-kusama-clears-the-air-on-shiba-inu-role-memecoin-rivalry-our-drive-was-to-overtake-dogecoin">Shytoshi Kusama Clears The Air On Shiba Inu Role, Memecoin Rivalry: &#8216;Our Drive Was To Overtake Dogecoin&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, features Shytoshi Kusama clarifying that Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) was founded by Ryoshi, not him, and sharing the project's early vision to surpass Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
&#8220;<a href="https://www.benzinga.com/general/social-media/24/12/42734220/bill-ackman-sends-fannie-mae-freddie-mac-stocks-soaring-trump-likes-big-deals">Bill Ackman Sends Fannie Mae, Freddie Mac Stocks Soaring: &#8216;Trump Likes Big Deals&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, discusses Bill Ackman's bullish view on Fannie Mae (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) and Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>) stocks, citing their potential for large gains as conservatorship could end under Donald Trump's administration, with Ackman highlighting asymmetric upside for investors.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/media/24/12/42709387/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
<a href="https://www.benzinga.com/news/econ-s/25/01/42769181/natural-gas-prices-surge-as-arctic-blast-freezes-us-3-stocks-on-the-move">Natural Gas Prices Surge As Arctic Blast Freezes US: 3 Stocks On The Move</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42777529/goldman-sachs-adds-3-stocks-to-conviction-list-flags-5-market-trends-to-monitor-in-2025">Goldman Sachs Adds 3 Stocks To &#8216;Conviction List,&#8217; Flags 5 Market Trends To Monitor In 2025</a>
The Bears
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42777950/teslas-first-sales-drop-splits-wall-street-2025-will-be-the-prove-it-year">Tesla&#8217;s First Sales Drop Splits Wall Street: &#8216;2025 Will Be The Prove It Year&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) facing mixed analyst reactions after missing Q4 delivery estimates, with Wedbush's Daniel Ives forecasting a 20%-30% growth rebound in 2025, while Ross Gerber criticized reliance on discounts to boost sales.
&#8220;<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading">Pharma Bro Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, features Martin Shkreli's warning of potential liquidation for MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) as its stock fell below $300, predicting Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could hit $250,000 without the influence of its co-founder Michael Saylor.
&#8220;<a href="https://www.benzinga.com/tech/24/12/42699274/boeing-engineers-leave-struggling-planemaker-for-space-companies-report">Boeing Engineers Leave Struggling Planemaker For Space Companies: Report</a>,&#8221; by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, highlights talent migration from Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) to firms like SpaceX and Blue Origin as engineer tenures drop, potentially delaying new aircraft development, though Boeing says its voluntary attrition rate remains low with competitive pay and benefits.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/news/global/25/01/42790373/apple-iphones-lose-ground-in-china-as-subsidies-boost-huawei-domestic-rivals">Apple iPhones Lose Ground In China As Subsidies Boost Huawei, Domestic Rivals</a>
<a href="https://www.benzinga.com/general/travel/25/01/42791291/jetblue-fined-2-million-for-chronic-flight-delays-delta-united-rank-among-most-on-time-airlines">JetBlue Fined $2 Million For &#8216;Chronic Flight Delays&#8217;: Delta, United Rank Among Most On-Time Airlines</a>
<a href="https://www.benzinga.com/trading-ideas/short-ideas/22/10/29205954/paul-tudor-jones-correctly-predicted-the-1987-stock-market-crash-heres-what-the-billion">Paul Tudor Jones Correctly Predicted The 1987 Stock Market Crash: Here&#8217;s What The Billionaire Hedge Fund Manager Says Is Coming Next</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
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Benzinga Bulls And Bears: Tesla, Netflix, MicroStrategy — And Shiba Inu Strives To Outpace Dogecoin In Crypto

Walgreens is pulling the plug on 1,200 stores over the next three years. That's no small cut. And they're not the only ones feeling the squeeze. Business Insider reported that CVS and Rite Aid are scaling back too. So, how does a business in the middle of a <a href="https://academic.oup.com/ajhp/article-abstract/81/14/583/7657643">$722 billion industry</a> end up here?
Let's break it down.
Big Numbers, Bigger Problems
Pharmacies should be killing it. Seven out of 10 Americans rely on prescription meds. That's a steady stream of cash, right? Not quite. Walgreens says a quarter of their stores are losing money. CVS is slashing 3,000 jobs and closing hundreds of locations. Rite Aid? They're stuck in bankruptcy mode, shutting stores to stay afloat.
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The stores that survive <a href="https://www.benzinga.com/news/large-cap/24/08/40437498/pharmacy-chains-like-cvs-health-walgreens-boots-alliance-confront-shifting-consumer-habits-and-pro">aren't faring much better. </a>Shelves are half-empty. Everything is locked up. And finding someone to unlock that deodorant? Good luck with that scavenger hunt.
What's Eating Pharmacies Alive?
It's not just Walgreens and CVS. Convenience stores like 7-Eleven are shutting down, too. Blame it on what people are calling the "retail apocalypse." COVID-19 may have kick-started it, but this isn't just a pandemic problem.
Elizabeth Anderson, a health care analyst, told BI, "None of these things is a new factor. But you compound that for years and years and eventually, you get to kind of a breaking point."
That breaking point? It's here.
See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
Amazon And Friends Are Winning
Who needs a pharmacy run when Amazon can drop your ibuprofen, snacks and toilet paper on your doorstep? Often cheaper and easier.
Amazon isn't the only threat; Walmart and Target are grabbing pharmacy customers. Last year, Walmart launched <a href="https://www.benzinga.com/news/24/10/41457803/walmart-launches-same-day-pharmacy-delivery-upping-competition-for-cvs-walgreens">same-day pharmacy delivery.</a> Even Dollar General is in the mix, snagging budget-conscious shoppers. The more annoying pharmacies make it to shop – locked shelves, anyone? – the faster people bail.
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Pandemic Boost? That's Over
The pandemic gave pharmacies a brief lifeline. Vaccines and COVID test kits drove foot traffic and revenue. But that wave has passed and the problems that were always there are now front and center.
Can Pharmacies Make A Comeback?
Walgreens and CVS are trying to adapt, but the game has changed. People want convenience. They want low prices. And they won't stick around for stores that don't deliver.
For now, the closures keep coming. If pharmacies don't evolve fast, this could just be the start.
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Startups

Why Walgreens Is Shuttering 1,200 Stores While Pharma Sales Soar To $722 Billion

<a href="https://www.benzinga.com/real-estate/24/09/41097203/bill-gates-has-spent-150-million-on-real-estate-from-a-seattle-mansion-to-275-000-acres-of-farmland">Bill Gates is one of the richest men in the world</a>, but he's not exactly clinging to the title. In fact, the Microsoft cofounder has said he wants to fall off the billionaires' list entirely – thanks to his commitment to giving away the majority of his fortune through the Bill &amp; Melinda Gates Foundation.&nbsp;
Gates is famous for his philanthropy but also for his down-to-earth quirks. He <a href="https://www.benzinga.com/startups/24/01/36664032/bill-gates-spent-over-30-million-on-a-book-in-the-1990s-but-he-wears-a-cheap-24-casio-watch">wears a $10 Casio watch</a>, owns a <a href="https://www.benzinga.com/personal-finance/24/05/39083570/billionaire-bill-gates-has-a-mcdonalds-gold-card-that-gives-him-free-food-for-life-worldwide">McDonald's Gold Card</a> that grants him free Big Macs anywhere in the world and has no interest in flaunting his wealth with flashy cars or designer suits.
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But while he's no stranger to frugality, Gates knows when to open his wallet – whether it's for private jets, sprawling real estate or even paying fines for improperly placed manure bins at his daughter Jennifer's $8.7 million horse farm in Florida.
This manure-related mishap cost Gates $42,000 in fines but was all part of supporting Jennifer's equestrian ambitions. According to a 2014 Page Six article, when Jennifer was just 15, Gates purchased the Wellington, Florida, farm in the heart of the equestrian world. The estate featured stables for 20 horses, training facilities and easy access to the Winter Equestrian Festival.
However, even billionaires can't escape local regulations. Gates was fined $250 a day for violating a Wellington code requiring manure bins to be at least 100 feet from bodies of water. The bin was too close to a nearby pond and the necessary permits for the structure were never secured.&nbsp;
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Page Six also reported that months of warnings to move the "giant manure store" existed before the Gates' property was hit with penalties of $250 per day for two code violations.
While the fines hardly dented Gates' wallet, they highlighted the lengths he was willing to go to nurture his daughter's passion.
And those lengths were extraordinary. Gates reportedly spent $1 million on Jennifer's first rookie competition, leased four top-tier horses and even rented a lavish 8-bedroom mansion in Wellington for $600,000 to ensure she had access to the best training facilities, according to a Forbes 2012 article. When private jet charters were needed to shuttle the family back and forth between Washington and Florida, Gates didn't hesitate.
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Beyond the manure fiasco, Gates has poured significant resources into Wellington real estate, investing upward of $37 million in the equestrian hub over the years. Today, Jennifer owns her own $16 million horse farm, a gift from her parents and continues to compete at an elite level.
Gates' approach to wealth is fascinating because of its contrasts. On the one hand, he plans to leave his kids a modest $10 million inheritance each, ensuring they stay grounded. On the other hand, he's willing to spend millions to fuel their dreams. For Jennifer, that meant creating the ultimate environment to pursue her love of show jumping.
At his core, Gates balances his eccentricities – like that McDonald's Gold Card and his aversion to ostentatious spending – with deep generosity, <a href="https://www.benzinga.com/24/12/42622967/bill-gates-answers-why-he-doesnt-just-voluntarily-pay-more-in-taxes-people-pay-taxes-as-an-obligation-of-law-not-out-of-charity">both as a philanthropist and a dad</a>. Whether eradicating global health crises or dealing with manure-related code violations, Gates is proof that even billionaires juggle the extraordinary and the oddly mundane.
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