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YONDENKO CORP by YONDENKO CORP.

If there's one thing Jeff Bezos knows how to do, it's raise the stakes – whether it's in e-commerce, space travel or <a href="https://www.benzinga.com/real-estate/24/05/38921536/jeff-bezos-quietly-enters-residential-mortgage-business-giving-high-interest-rate-loans-to-other-inv">even real estate</a>. The Amazon founder recently made headlines with his splashy purchases on Miami's exclusive Indian Creek Island, nicknamed the "<a href="https://www.benzinga.com/real-estate/24/12/42673539/how-jeff-bezos-knocked-1-billion-off-his-tax-bill-by-moving-to-his-infamous-billionaire-bunker">Billionaire Bunker</a>." But now, one of his neighbors is taking the "asking price" concept to a whole new level.
A 1.84-acre empty lot right next to Bezos' properties is up for grabs and the price tag? A whopping $200 million. Yes, you read that right – $200 million for less than two acres of land. To put it in perspective, the current owners bought the same lot for $27.5 million in 2018. That's almost an eightfold increase in just five years. So, what's driving the jaw-dropping price hike?
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Welcome to Indian Creek: The World's Most Exclusive Address
Indian Creek isn't your average gated community. It's a 300-acre, human-made island in Miami-Dade County, home to about 40 properties. With a private bridge, 24/7 armed security and a police force that patrols the perimeter like it's Fort Knox, it's the kind of place where billionaires go to escape the rest of us.
Jeff Bezos joined the elite club in 2023, shelling out <a href="https://www.benzinga.com/real-estate/24/05/38894190/jeff-bezos-spent-237-million-on-florida-mansions-billionaires-flock-to-upside-down-tax-haven-where-r">over $237 million across three separate purchases</a>. His real estate spree included a $68 million mansion, a $79 million adjacent property and a third mansion for $90 million. According to reports, he planned to live in the third home while the other two were <a href="https://www.benzinga.com/real-estate/24/04/38075377/jeff-bezos-buys-90-million-florida-mansion-to-live-in-while-his-other-newly-purchased-147-million-ho">demolished to build one mega-mansion</a>. Clearly, he's all in on Miami, leaving Seattle behind after 29 years.
Other residents include <a href="https://www.benzinga.com/real-estate/24/11/41912517/inside-ivankas-24-million-billionaire-bunker-mansion-with-a-15-million-mortgage">Jared Kushner, Ivanka Trump</a>, Carl Icahn and Tom Brady. And now, the mystery seller of the $200 million lot is betting that Bezos' arrival has elevated Indian Creek's already sky-high real estate market.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
What's So Special About This Empty Lot?
Aside from being Jeff Bezos' soon-to-be neighbor, the lot boasts 200 feet of prime Biscayne Bay waterfront. According to the listing, it's perfect for building a deep-water dock accommodating a 180-foot megayacht. There are pre-design plans for a 25,000-square-foot mansion, which the new owner can either embrace or toss out entirely.
Broker Ilya Reznik, who represents the anonymous sellers, told Business Insider the asking price reflects the "unique location."&nbsp;
"Bezos did pay the numbers, which are really high," Reznik said. "But now those prices are there and the market is there – and higher."
Reznik also pointed to Miami's overall real estate frenzy, where new-build luxury homes command premium prices. "If it's new, buyers are willing to pay a premium. This is just what's going on in Miami," he added.
Is $200 Million Too Much?
A $200 million price tag for an empty lot on Indian Creek Island raises eyebrows – even in billionaire real estate. While the exclusivity of the location and the arrival of high-profile neighbors like Jeff Bezos have undeniably boosted demand, the fact remains: this is 1.84 acres of undeveloped land and waterfront.
To put things in perspective, the asking price far exceeds what Bezos paid for any of his three properties on the island. Indian Creek is certainly a trophy address, but this price could give even the wealthiest buyers a reason to pause.
That said, <a href="https://www.benzinga.com/real-estate/24/10/41453235/even-after-hurricane-helene-and-milton-south-floridas-luxury-market-sees-prices-rise-9-6">Miami's ultra-luxury real estate market</a> often defies traditional logic. Sometimes, it's just about saying, "Yeah, I live next to Jeff Bezos."
So, will this empty lot sell for its ambitious price? Only time – and the whims of the ultra-wealthy – will tell.
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Real Estate

Jeff Bezos' Miami 'Billionaire Bunker' Neighbor Is Selling An Empty Lot For $200 Million – It's Less Than 2 Acres And They Paid $27.5 Million

Coss Marte, the founder and CEO of Conbud, is set to generate a whopping $12 million from his legal cannabis venture this year. Marte&#8217;s journey from a convict to a cannabis mogul is a testament to his resilience and the changing landscape of cannabis laws.
What Happened: Marte&#8217;s journey commenced with a drug conviction in 2009, resulting in a seven-year prison sentence. 
However, he was released early in 2013 and went on to establish a fitness business, Conbody, based on his prison workout regimen, CNBC <a href="https://www.cnbc.com/2025/01/04/conbud-founder-from-drug-sentence-to-building-nyc-cannabis-dispensary.html">reported</a>. 
"I was following this law, and what they required was two years of a net profitable business and a conviction on your record. Now, how many people have that to qualify for a cannabis license? Not many," Marte told the outlet. 
"When I was a kid, people would ask me: ‘What do you want to be when you grow up?' And I would say: ‘I want to be rich. The first opportunity was through the world of drugs. So I started dealing weed," Marte added.
Also Read: <a href="https://www.benzinga.com/25/01/42793407/cannabis-physician-surgeon-generals-alcohol-cancer-risk-warning-is-a-wake-up-call">EXCLUSIVE: Cannabis Physician Says Surgeon General&#8217;s Alcohol Cancer Risk Warning Is &#8216;Wake-Up Call&#8217;</a>
The legalization of recreational cannabis in New York in 2021 and the expungement of past marijuana-related convictions presented Marte with a business opportunity. 
The state permitted entrepreneurs with past marijuana convictions to be the first recipients of licenses for selling recreational cannabis.
Marte, with his successful business and a conviction, was an ideal candidate. He established Conbud, one of the first fully-licensed recreational cannabis businesses in Manhattan. 
The business, which commenced operations in October 2023, is currently generating around $800,000 in sales per month, including nearly $100,000 in profit. Marte anticipates closing 2024 with an estimated total of approximately $7 million, according to his projections. 
Why It Matters: Marte&#8217;s journey is a powerful narrative of resilience and highlights the potential for social and economic equity in the rapidly growing legal cannabis market. 
His story underscores the transformative power of changing cannabis laws, offering individuals with past convictions a chance to rebuild their lives and contribute to society. 
Furthermore, it emphasizes the potential economic benefits of legal cannabis, as evidenced by Conbud&#8217;s impressive sales figures.
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<a href="https://www.benzinga.com/government/regulations/24/12/42724338/new-year-2025-how-americas-love-of-cannabis-transformed-social-life-industry-and-health-trends" target="_blank" rel="noreferrer noopener">Cannabis In 2025: Inside America's Social, Economic, Wellness Transformation</a>

Cannabis

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From Prison To Profits: Here's How This Entrepreneur's Cannabis Business Makes $800,000 Monthly

Elon Musk has expressed his strong disapproval of lawmakers who opposed a bill aimed at deporting convicted sex offenders who are <a href="https://www.benzinga.com/news/24/12/42715951/trump-backs-immigration-visas-musk-praises-his-stance-and-says-rising-tide-lifts-all-boats">undocumented immigrants</a>.
What Happened: Musk took to X on Sunday to voice his criticism. He urged his followers to post a list of all those who opposed the bill, stating they should be voted out of office. His tweet was in response to a post that highlighted that 158 Democrats voted against the bill in September.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is no excuse. Please post the list of people who opposed this law and want to keep illegals who are convicted sex offenders in America. They all need to be voted out of office. Every one of them. <a href="https://t.co/nuimP3Hsm1">https://t.co/nuimP3Hsm1</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1875746145261195463?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
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Musk wrote, &#8220;There is no excuse. Please post the list of people who opposed this law and want to keep illegals who are convicted sex offenders in America. They all need to be voted out of office. Every one of them.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/12/42714402/elon-musk-weighs-in-on-maga-divide-urges-gop-to-purge-contemptible-fools">Elon Musk Weighs In On MAGA Divide, Urges GOP To Purge &#8216;Contemptible Fools&#8217;</a>
Following his response, the original poster shared the list and Musk then said, &#8220;These awful people all need to be voted out, either in the primaries or the general election. They sully the Capitol Building with their presence.&#8221;
At the time of the debate over the bill, Rep. Jerrold Nadler (D-N.Y.), then the ranking Democrat on the House Judiciary Committee, said that the bill was too broad and risked deporting victims of domestic violence back to dangerous living arrangements in their country of origin.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">These awful people all need to be voted out, either in the primaries or the general election. They sully the Capitol Building with their presence. <a href="https://t.co/6i9LqTefzv">https://t.co/6i9LqTefzv</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1875759992898515080?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
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Why It Matters: The bill in question was passed by the House in September, with every Republican and 51 Democrats voting in favor. However, 158 Democrats opposed it, causing a stir in the political landscape. The bill aimed to deport undocumented immigrants convicted of sex crimes, a move that Musk strongly supports.
Musk&#8217;s tweet has sparked a conversation about the bill, the lawmakers who opposed it, and the future of immigration policies in the United States. 
As an influential figure, Musk&#8217;s views could potentially sway public opinion and impact future political decisions.
Read Next
<a href="https://www.benzinga.com/news/24/12/42496864/exclusive-eric-trump-calls-elon-musk-albert-einstein-of-our-time-says-tesla-ceo-will-help-build-a-stronger-america" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Eric Trump Calls Elon Musk ‘Albert Einstein Of Our Time,' Says Tesla CEO Will Help Build ‘A Stronger America'</a>

Politics

Elon Musk Calls for Identifying Lawmakers Who Support Undocumented Immigrants Convicted of Sex Crimes: 'No Excuse'

According to U.S. Census Bureau data, U.S. homebuilders have 266,000 houses under construction and ready for sale, the second-highest level since records began, trailing only the 2008 housing bubble.
The construction surge comes as speculative &#8220;spec&#8221; homes – built without committed buyers – reached 124,000 units nationwide, up from the shortage levels seen between 2012 and 2022. The last time spec home inventory climbed higher was in 2008, when builders reported 199,000 units.
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&#8220;Builders are doing their part to inundate the housing market with supply,&#8221; said Nick Gerli, real estate data platform Reventure App CEO.
The construction boom centers on southern states, where <a href="https://www.benzinga.com/real-estate/24/12/42557395/with-690000-unsold-homes-experts-predict-slight-growth-in-2025-is-now-the-time-to-buy">builders maintain most of their inventory</a>. Texas, Florida and Tennessee report an overflow of available homes on builder lots. Active listings in those regions have returned to pre-pandemic levels, ending local housing shortages.
Meanwhile, the Northeast and Midwest continue facing inventory deficits compared to pre-pandemic levels. Builders have largely avoided these regions, concentrating New South and Mountain West construction.
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&#8220;Homebuilders in these areas permitted lots of homes during the pandemic boom and continue to permit homes in late 2024, even as buyer demand has cooled,&#8221; Gerli told Newsweek. &#8220;Texas, Florida, Arizona, Tennessee and Georgia are the most impacted states by the run-up in builder inventory.&#8221;
According to Redfin data, the median home sale price reached $430,010 in November, rising 5.4% from the previous year. Total homes for sale increased 10.3% year-over-year to 1,689,082 units, while sales volume grew 4.4%.
Reventure forecasts home price declines in Texas and Florida for 2025, with potential price drops concentrated in suburban and rural areas where builders remain most active.
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The Senate Budget Committee recently warned about broader market risks. A new report from the committee points to rising insurance premiums combined with elevated home prices and mortgage rates as potential triggers for market instability.
&#8220;Property values will eventually fall – just like in 2008 – sending household wealth tumbling. The United States could be looking at a systemic shock to the economy similar to the financial crisis of 2008 – if not greater,&#8221; the committee&#8217;s report stated.
The inventory surge marks a reversal from 2008-2022 when the U.S. housing market saw construction lag behind population growth. The resulting shortage pushed many first-time <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39614880/now-owning-a-house-in-us-is-more-challenging-than-ever-as-affordability-drops-to-">buyers out of the market as prices climbed beyond reach</a>.
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266K Homes Under Construction: Builders Challenge The Housing Shortage Narrative

Dog-themed meme coin Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has seen a massive 2,133% surge in its burn rate, followed by a 10% price rise.
What Happened: According to Shibburn, a platform that collects burn transaction data from Etherscan and presents it to the SHIB community, reported six burn transactions in the last 24 hours. 
These transactions resulted in the removal of a total of 34,312,733 SHIB from circulation. This large burn rate led to a 2,133% increase in the Shiba Inu burn rate metric.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> Price: $0.00002274 (1hr 0.84% ▲ &#x7C; 24hr 6.27% ▲ ) Market Cap: $13,386,574,644 (6.33% ▲) Total Supply: 589,257,088,533,288 TOKENS BURNT Past 24Hrs: 34,312,733 (2133.1% ▲) Past 7 Days: 46,355,986 (-30.37% ▼)
&mdash; Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1875361550149537914?ref_src=twsrc%5Etfw">January 4, 2025</a></blockquote>
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Most of the burned SHIB was destroyed in a single transfer, which moved 31,483,015 SHIB to an unspendable blockchain wallet. Two other large transfers moved 1,000,000 and 1,259,569 SHIB to the same destination.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42378684/shiba-inus-208-surge-this-year-sparks-predictions-of-top-10-crypto-ranking-in-2025">Shiba Inu&#8217;s 208% Surge This Year Sparks Predictions Of Top 10 Crypto Ranking In 2025</a>
The SHIB community leader, known as Shytoshi Kusama, announced on his official X account that he plans to take a break&nbsp;from social media for a&nbsp;few days. This is due to the launch of&nbsp;a new Shibarium token TREAT&nbsp;and the completion of &#8220;2 extremely important papers&#8221;.
Why It Matters: The surge in Shiba Inu&#8217;s burn rate and subsequent price rise is significant as it indicates a strong demand for the meme coin. The burn rate is a measure of how many coins are being removed from circulation, effectively reducing the supply and potentially driving up the price.
The announcement from Shytoshi Kusama, the SHIB community leader, about his temporary departure from social media and the launch of a new Shibarium token also adds to the intrigue. 
The market will be keenly watching the developments around the new token and the impact it could have on SHIB&#8217;s price.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Markets

$SHIB

Shiba Inu's 2,133% Burn Rate Surge Followed by 10% Price Rise: What's Happening?

New Jersey-based dinnerware designer Jono Pandolfi has transformed his side hustle into a multi-million dollar business.
What Happened: Pandolfi, along with his 30-member team at&nbsp;Jono Pandolfi Designs, manufactures and ships thousands of ceramic pieces from their Union City studio to a global clientele. 
The company&#8217;s dinnerware graces the tables of hundreds of restaurants and has even made appearances in FX&#8217;s TV series &#8220;The Bear.&#8221;
When the pandemic wreaked havoc on the restaurant industry, the company pivoted to expand its direct-to-consumer offerings. This strategic move now contributes to nearly half of its revenue. By the close of December 2024, the company&#8217;s revenue was projected to exceed $6.6 million, as per documents reviewed <a href="https://www.cnbc.com/2025/01/02/how-dinnerware-designer-turned-his-side-hustle-into-a-lucrative-business.html">by</a> CNBC.
"I think it's safe to say that it's pretty hard for a ceramic artist or someone who studied clay to build a business that's bringing in over $6 million per year. I feel like I'm living the dream of a ceramic artist," Pandolfi told the outlet. 
The company&#8217;s offerings, which include four-piece settings and 8-inch pasta bowls, are available for purchase on its website. 
Collaborations with high-profile clients like&nbsp;Anthropologie&nbsp;and&nbsp;Crate &amp; Barrel&nbsp;have necessitated the acquisition of additional kilns to meet the growing demand.
Also Read: <a href="https://www.benzinga.com/news/23/08/33986712/from-side-hustle-to-77k-heres-a-22-year-olds-car-detailing-success">From Side Hustle to $77K: Here&#8217;s A 22-Year-Old&#8217;s Car Detailing Success</a>
Despite the financial challenges associated with expanding production capacity, Pandolfi remains steadfast in his commitment to grow the business.&nbsp;The company&#8217;s shift to a&nbsp;direct-to-consumer strategy has proven successful, tripling its revenue since 2020.
Why It Matters: Pandolfi&#8217;s story is a testament to the power of adaptability and resilience in the face of adversity. The company&#8217;s successful pivot to a direct-to-consumer model amidst a global pandemic underscores the importance of agility and innovation in business. 
Furthermore, the collaborations with high-profile clients highlight the value of strategic partnerships in driving growth and expanding market reach. 
This entrepreneurial journey serves as an inspiration for aspiring business owners and side hustlers, demonstrating that with the right strategy and determination, even the most challenging circumstances can be transformed into opportunities for growth and success.
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From Side Hustle to $6.6 Million a Year: How This 48-Year-Old Is Living the Dream

Running a small business can teach you a lot about people and for one Reddit user, it's been a crash course in frustration. A small-business owner vented about getting satisfied customers to leave positive reviews in a post on the r/small business <a href="https://www.reddit.com/r/smallbusiness/comments/1hc6mvk/if_i_learned_anything_from_business_is_that_the/">subreddit</a>.&nbsp;
"A customer will take tons of your time, will be super happy with the result of your work, thank you profusely … and the same f bastard won't bother to take a few seconds to leave you a review after you've begged them repeatedly," the post reads.
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This post got much attention, with hundreds of upvotes and a heated comment section. Some people agreed with the frustration, but others thought the poster sounded entitled. "You're trading work for money, not reviews," one commenter replied, adding that customers don't owe anything beyond payment.
<h2 class="wp-block-heading">Are Reviews a Business Lifeline or a Bonus?</h2>
For many small businesses, online reviews are crucial in <a href="https://boost.benzinga.com/">attracting new customers</a>. Platforms like Google and Yelp often serve as the first impression, making a strong review profile a must-have. Yet, as several Redditors pointed out, getting those reviews can feel like pulling teeth.
The main takeaway from the discussion? People don't prioritize reviews unless they're either overjoyed or deeply disappointed. As one user aptly put it, Satisfied customers tend not to leave reviews. However, unhappy ones will let the world know.
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
<h2 class="wp-block-heading">Why Customers Don't Leave Reviews</h2>
There are plenty of reasons why a happy customer might skip leaving a review, even when they've had a great experience. For starters, life is busy. Many simply forget about the request once they've received the service or product. Others might feel overwhelmed by the sheer volume of daily review requests.
"I get bombarded asking for reviews," one commenter shared. Flights, online shopping, even banks. It gets exhausting. The same person shared an interesting story about their service provider calling their wife eight times, trying to get her to change her review to five stars and offering her $250 in free services.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
<h2 class="wp-block-heading">What Can Businesses Do?</h2>
Despite the challenges, some business owners shared ideas that have helped them get more reviews. Making the process simple is important. For example, using QR codes or links that take customers straight to the review page makes it faster and easier. Asking for feedback at the right time, like right after a customer has had a great experience, can also make a big difference.&nbsp;
Giving small rewards like discounts or free items can encourage people to leave a review, but businesses should be careful to follow the rules of review platforms. Many business owners agreed that while reviews are helpful, they aren't something you can count on every time. Instead, focusing on doing a great job and growing naturally might work better in the long run.
At the end of the day, focusing on <a href="https://www.benzinga.com/news/24/06/39175566/jeff-bezos-once-picked-up-the-phone-and-called-amazon-customer-support-to-make-a-point-and-set-off-w">delivering great service</a> and building genuine connections with customers is likely to result in long-term success – with or without glowing reviews.
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<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

After Begging Customers Repeatedly For Reviews, Frustrated Business Owner Claims 'The Average Human Is Extremely Selfish'

Amit Yoran, the CEO and chairman of Tenable Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENB#NASDAQ">TENB</a>), died on Friday at age 54.
What Happened: Yoran, a revered figure in the cybersecurity sector, had been battling cancer for a prolonged period and had taken a medical leave on December 5.
Yoran had been steering Tenable since 2016 and played a crucial role in the company&#8217;s public listing in 2018. Before joining Tenable, he held the position of president at RSA Security and was the founder of NetWitness. He also co-founded Riptech Inc., a firm focused on safeguarding corporate and government computers from cyberattacks, <a href="https://edition.cnn.com/2025/01/04/business/amit-yoran-dies-tenable-ceo/index.html">reports</a> CNN.
In 2003, Yoran was entrusted with the responsibility of leading the newly established National Cyber Security Division of the Homeland Security Department. However, he&nbsp;resigned from the position after&nbsp;a year.
Also Read: <a href="https://www.benzinga.com/insights/analyst-ratings/24/12/42599500/deep-dive-into-tenable-holdings-stock-analyst-perspectives-9-ratings">Deep Dive Into Tenable Holdings Stock: Analyst Perspectives (9 Ratings)</a>
In Yoran&#8217;s absence, Tenable&#8217;s board had assigned CFO Steve Vintz and COO Mark Thurmond as co-CEOs. The company announced that Vintz and Thurmond will continue to guide the firm while the search for a permanent CEO is in progress.
Why It Matters: Yoran&#8217;s demise is a significant blow to Tenable and the cybersecurity industry at large. His leadership and vision were instrumental in shaping Tenable&#8217;s growth trajectory and his contributions to the cybersecurity sector have been monumental. His loss leaves a void that will be challenging to fill.
Under Yoran&#8217;s stewardship, Tenable successfully transitioned to a public company and continued to innovate in the cybersecurity space. 
His leadership style and commitment to the industry will continue to inspire future cybersecurity leaders. As the company navigates this challenging time, the continuity provided by Vintz and Thurmond will be crucial. 
Their combined experience and understanding of the company&#8217;s operations will be key in maintaining stability and driving the company&#8217;s future growth.
Read Next
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Image: Shutterstock

TENB

Tenable Holdings CEO Amit Yoran Dies at 54

<a href="https://www.benzinga.com/startups/24/10/41418922/kevin-oleary-claims-theres-zero-evidence-that-automation-at-u-s-ports-impacts-worker-wages-why-he-th">Kevin O'Leary</a>, known for grilling entrepreneurs on Shark Tank, is making headlines for an investment of a different kind. In a surprising twist, the sharp-tongued investor revealed in 2023 that he's now a citizen of the United Arab Emirates (UAE). The news broke on LinkedIn, where O'Leary shared his excitement.&nbsp;
But why would a Canadian-American business tycoon with a net worth of $400 million make such a move? Turns out, the UAE isn't just about luxury skyscrapers and desert safaris – it's a hotbed for innovation, business and global finance.
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"Abu Dhabi is fast becoming a hub for innovation, finance and entrepreneurship. I wanted to be part of that," O'Leary explained.&nbsp;
The UAE&#8217;s growth shows no signs of slowing, with KPMG forecasting a 6.7% economic expansion in 2025, far outpacing the U.S., which the IMF projects will grow by 2.2%.&nbsp;
Strategic investments in renewable energy, <a href="https://www.benzinga.com/startups/24/12/42724565/dont-count-your-chickens-this-5-billion-food-startup-counts-them-daily-while-pushing-ai-to-predict-your-meals">artificial intelligence</a> and fintech drive this economic boom. Initiatives like the UAE National Artificial Intelligence Strategy 2031 are designed to position the nation as a leader in emerging technologies.
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
Dubai, one of the UAE's most vibrant cities, has also attracted global attention as a financial hub. Over 60 hedge funds established operations there, capitalizing on the city's tax-free policies and world-class infrastructure.&nbsp;
This influx of investment underscores the UAE's business-friendly environment, where foreign investors can enjoy benefits like 100% ownership in free trade zones and zero income taxes.
In addition to these financial advantages, the UAE's geographic location is a major asset. Strategically positioned between Europe, Asia and Africa, it provides unparalleled access to some of the world's fastest-growing markets. For O'Leary, this isn't about abandoning North America but expanding opportunities.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
"You talk about financial services and just the scale of how fast it's growing, it's absolutely huge. You got to go there because that's where the money is," he said in a <a href="https://www.youtube.com/shorts/PrAReUiB-J4">recent YouTube video</a>.&nbsp;
O'Leary's move also underscores a broader trend. In recent years, the UAE has attracted high-net-worth individuals and companies. The country's zero-income tax policy and well-connected trade networks have made it a magnet for global investment.&nbsp;
In 2023, the UAE reported $30.688 billion in foreign direct investment (FDI), compared to $22.737 billion the previous year.&nbsp;
The UAE&#8217;s commitment to economic diversification is evident through substantial investments in renewable energy, fintech and artificial intelligence. Initiatives like Masdar City exemplify the country&#8217;s dedication to sustainable development, attracting international investors seeking opportunities in emerging sectors.
Read Next:
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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

Startups

Kevin O'Leary Bets Big On UAE Growth: Why This Nation's Economy Is Outpacing The U.S. With A Projected 6.7% Growth By 2025

<h2 class="wp-block-heading">Do Kwon Pleads Not Guilty In U.S. Courtroom&nbsp;</h2>
According to a Reuters report, Do Kwon, co-founder of Terraform Labs, the incubator of TerraUSD (CRYPTO:USTC) and Luna (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">LUNC</a>) pleaded not guilty on Thursday to criminal fraud charges in a U.S. court.&nbsp;
Kwon was handed over to U.S. law enforcement officers on Tuesday at an airport in Montenegro and extradited to the United States to face the charges.
Federal prosecutors in Manhattan <a href="https://www.reuters.com/world/europe/montenegro-police-arrest-suspected-former-ceo-terraform-labs-interior-minister-2023-03-23/">charged</a> Kwon with securities fraud, wire fraud, commodities fraud and money laundering conspiracy related to the collapse of Luna and TerraUSD in 2022, which resulted in an estimated $40 billion loss.
Read more here: <a href="https://www.benzinga.com/news/global/25/01/42773042/terra-lunas-do-kwon-to-face-criminal-fraud-charges-in-us">Terra Luna&#8217;s Do Kwon To Face Criminal Fraud Charges In US</a>
<h2 class="wp-block-heading">DOJ Announces $4.3 Billion In Total Distributions To Madoff Ponzi Scheme Victims</h2>
The Justice Department announced on Monday that the Madoff Victim Fund began its tenth and final distribution of over $131.4 million to victims of the Bernard Madoff fraud scheme.&nbsp;
The DOJ said the latest payments will be sent to more than 23,000 victims, bringing the total to over 40,000 victims in the Madoff scheme having recovered 93.71% of their fraud losses. In total, the MVF has paid over $4.3 billion from forfeited funds to 40,930 victims for losses suffered due to the collapse of &nbsp;Bernard L. Madoff Investment Securities LLC.&nbsp;
"Today's distribution represents an unprecedented conclusion of victim compensation from civil forfeiture actions related to the Madoff scheme with more than $4 billion repaid to over 40,000 victims," said Assistant Director in Charge James E. Dennehy of the FBI New York Field Office.&nbsp;
"These victims implicitly trusted Madoff with their investments only to ultimately lose significant monies to his selfish plan. With the Justice Department's steadfast support, the FBI will continue its tireless seizure of assets from criminals who steal from others and seek to recover those assets for victim losses," Dennehy added. 
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Image: Shutterstock

Legal

$LUNC

$USDT

Financial Crime Weekly: $4.3 Billion Paid To Bernie Madoff Ponzi Scheme Victims, Do Kwon Pleads Not Guilty

The profitability of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could be severely impacted under the second Trump administration, with a potential 40% decrease.
What Happened: After a less than stellar Q4 sales performance and a 6% decrease in Tesla&#8217;s shares, JPMorgan analysts foresee more hurdles in the company&#8217;s path. 
The bank&#8217;s predictions are based on President elect Donald Trump&#8216;s plans to do away with EV tax credits and subsidies, which have made Tesla&#8217;s vehicles more affordable to consumers.
For the first time, Tesla reported a drop in annual vehicle sales, with approximately 1.79 million cars sold in 2024, a slight decrease from the record 1.8 million sales in 2023. 
This comes in the wake of a broader slowdown in the EV market as consumer preferences shift towards more economical hybrids.
JPMorgan analyst Ryan Brinkman expressed doubt about Tesla&#8217;s future prospects, stating that the company does not seem poised to dominate the global auto industry during the transition to electrification.
Also Read: <a href="https://www.benzinga.com/news/24/12/42715951/trump-backs-immigration-visas-musk-praises-his-stance-and-says-rising-tide-lifts-all-boats">Trump Backs Immigration Visas, Musk Praises His Stance and Says &#8216;Rising Tide Lifts All Boats&#8217;</a>
&#8220;Tesla does not appear to us on track to dominate the global auto industry amidst the electrification transition, which we view as only the starting point for present valuation,&#8221; Brinkman wrote in a note on Friday and as quoted <a href="https://www.businessinsider.com/tesla-profit-could-shrink-under-trump-policies-jpmorgan-2025-1">by </a>Insider.
Brinkman also contradicted Elon Musk&#8217;s assertion that the removal of EV subsidies would be beneficial for Tesla. He projected that Tesla could lose around $3.2 billion due to regulatory changes under Trump, as government subsidies constitute a significant part of Tesla&#8217;s revenue.
&#8220;The slowing of deliveries, even ahead of a likely subsidy removal, we think has the potential to refocus investors on the deterioration in deliveries, revenue, gross profit, EBIT, EPS, and FCF estimates across all periods,&#8221; Brinkman added in the note. 
Despite these obstacles, Tesla shares experienced a slight recovery on Friday morning, rising by about 4%.
Why It Matters: The potential elimination of EV tax credits and subsidies under the Trump administration could have a significant impact on Tesla&#8217;s profitability. 
These incentives have played a crucial role in making Tesla&#8217;s vehicles more affordable, thereby driving sales. The shift in consumer preferences towards more affordable hybrids could further exacerbate Tesla&#8217;s challenges. 
The company&#8217;s ability to navigate these changes and maintain its market position will be crucial in the coming years.
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TSLA

Here's How Trump Could Wipe Out 40% of Tesla's Profits After Taking Office, According To JPMorgan Analyst

Jan. 1, 2025, marks the first possible birthdate for Generation Beta. It&#8217;s also a unique opportunity for financial advisors to guide new parents through comprehensive long-term planning, especially as Prudential Financial&#8217;s latest research shows that 58% of current and future parents believe Generation Beta<a href="https://www.benzinga.com/topic/retirement"> may never retire.</a>
With 80% of Americans holding that retirement planning should begin at birth, financial advisors should start working with parents and prospective parents of Generation Beta as soon as possible.
The financial landscape these children, and their parents, will navigate differs significantly from previous generations. According to Prudential&#8217;s <a href="https://www.investmentnews.com/industry-news/generation-beta-has-arrived-planning-for-their-financial-future-should-start-now/258752">findings</a>, 86% of respondents anticipate these children will work in yet-to-be-created professions, while increased life expectancy could dramatically alter traditional retirement trajectories.
These shifting dynamics demand that advisors expand their traditional planning approach. While new parents typically focus on immediate concerns like healthcare coverage and life insurance, financial professionals must help them develop more comprehensive strategies. This includes creating flexible investment frameworks that can adapt to evolving career patterns and potentially extended lifespans.
Also Read: <a href="https://www.benzinga.com/general/health-care/25/01/42793786/deal-dispatch-vera-bradley-party-city-modells-interest">Deal Dispatch: Vera Bradley Is A Mixed Bag, Modell&#8217;s Ex-CEO Explores Party City</a>
Brandon Goldstein, ChFC, a financial planner with Prudential Financial, emphasizes the importance of immediate action: &#8220;While you can&#8217;t predict the future, you can plan for it from day one.&#8221; This perspective underscores the need for advisors to guide families in reassessing budgets, establishing long-term savings goals, and accounting for rising costs across multiple decades.
The power of early planning becomes evident through Prudential&#8217;s Beta Baby Bonus initiative, which demonstrates how a modest initial investment of $150 &#8211; which the company is giving to any baby born on Jan. 1, 2025 &#8211; could grow to $100,000 over 70 years. This illustrates the crucial role advisors play in helping families understand and harness long-term compound growth.
Financial professionals must proactively address these planning considerations with new parents, ensuring Generation Beta&#8217;s financial future begins with informed, strategic decisions. The challenge lies not just in traditional retirement planning, but in preparing for a fundamentally different financial future that may require new planning paradigms and investment approaches.
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</ul>
Photo: Shutterstock

Financial Advisors

New Generation Beta Brings Fresh Financial Planning Challenges, Opportunities

According to a November Quartz article, Tesla is now worth more than GM, Ford, Toyota and almost every other car company combined. Hard to believe, right? Especially when you consider that back in 2013, Tesla was <a href="https://www.benzinga.com/personal-finance/24/09/40815855/elon-musks-76-year-old-mom-couldnt-afford-to-buy-him-coco-puffs-now-hes-the-richest-man-in-the-w">so broke that Elon Musk</a> came close to selling it to Google.
The deal? A tidy $6 billion up-front plus $5 billion for factory expansions. But in true Musk fashion, he pulled the plug at the last second – not out of arrogance but because Tesla's fortunes reversed practically overnight.
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According to Ashlee Vance's biography Elon Musk: Tesla, SpaceX and the Quest for a Fantastic Future, Tesla's situation in early 2013 was dire. The company had just two weeks of cash left, preorders weren't turning into sales and word-of-mouth for the Model S wasn't great. Customers complained about design flaws like stubborn door handles and ugly seams in sun visors. To make matters worse, some Tesla executives had kept the full scope of the crisis from Musk.
When Musk found out, he fired key senior staff, promoted junior employees he believed had more drive and even called in Jerome Guillen, a Daimler executive, to revamp Tesla's repair centers. Musk then issued a companywide mandate: "If we don't deliver these cars, we are f&#x2A;&#x2A;&#x2A;ed. So I don't care what job you were doing. Your new job is delivering cars."
Even with these drastic measures, Tesla's future looked bleak. Musk shut down the factory temporarily and <a href="https://www.benzinga.com/news/24/11/42154628/larry-page-google-co-founder-said-hed-leave-his-fortune-to-elon-musk-over-charity-because-of-his-plans-to-go-to-mars-to-back-up-humanity">approached Larry Page</a>, Google's cofounder, with a lifeline deal.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
Musk and Page, already friends, hashed out terms that would keep Tesla alive. According to Vance, the agreement included several key points:
<ul>
<li>Google would buy Tesla for $6 billion.</li>
<li>It would allocate $5 billion for factory expansions.</li>
<li>Tesla would remain an independent brand and Musk would stay on as CEO for up to eight years or until Tesla launched its third-generation vehicle.</li>
</ul>
The deal seemed nearly finalized, with lawyers drafting the paperwork, but then Tesla's fortunes made a dramatic U-turn.
In Q1 2013, Tesla experienced a sudden surge in Model S sales. This stabilized the company's cash flow and allowed Tesla to post its first quarterly profit of $11 million. The news sent Tesla's stock price soaring, which enabled the company to repay its $465 million loan from the U.S. Department of Energy earlier than expected.
With Tesla's newfound financial health, Musk called off the deal with Google. "He no longer needed a savior," Vance wrote in the book.&nbsp;
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
Had the deal gone through, Tesla's trajectory – and perhaps Google's – might have looked entirely different. While Google pursued car-related ambitions, including autonomous driving technologies, it's hard to imagine it achieving Tesla's cultural and market dominance.
Fast forward to 2024 and <a href="https://www.benzinga.com/startups/24/11/41866041/if-you-want-a-new-tesla-cybertruck-you-can-get-it-built-and-delivered-in-10-days-thats-not-a-good-thing-for-the-ev-company">Tesla's value has skyrocketed.</a> Its market cap now exceeds $1.35 trillion, with stock prices up over 870% in the past five years. The company is a global leader in electric vehicles and renewable energy. Musk's decision to keep Tesla independent during its darkest days is seen as one of the most pivotal moments in its history.
In hindsight, Google may have missed out on one of the century's most transformative companies, but for Musk, the decision to stay the course solidified Tesla as more than just a car company. It became a movement – one that nearly didn't happen.
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</ul>

Elon Musk Nearly Sold Struggling Tesla To Google For $6 Billion – But When He 'No Longer Needed A Savior,' The Deal Was Called Off

Mark Cuban, billionaire investor and part-owner of the Dallas Mavericks, recently appeared on the Club Shay Shay <a href="https://www.youtube.com/watch?v=oHeh5vH2CGA">podcast</a> to share his advice for NBA players and millionaire athletes on managing wealth. Cuban didn't sugarcoat anything as he talked about bad investments and smarter ways to grow wealth.
His advice was specifically for high-earning athletes or entrepreneurs looking for ways to safeguard their wealth and generate passive income, but it can be applied to anyone. Here are Cuban's top strategies – including why you should steer clear of certain industries and consider alternatives like Dividend Kings and fractional real estate.
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</ul>
<h2 class="wp-block-heading">Why Rap, Restaurants and Liquor Companies are Bad Bets</h2>
Cuban explicitly advises against investing in trendy but risky ventures such as rap labels, restaurants, clothing lines and liquor companies. Here's his reasoning:
<ol>
<li>High failure rates: These industries are notoriously challenging to succeed in due to low barriers to entry and oversaturated markets. Many try but few thrive.</li>
<li>Feelings get in the way: Athletes often invest in these businesses because they love them or feel loyal to someone, but that can lead to poor decisions.</li>
<li>Unreliable returns: Most of these businesses need a lot of attention and rarely make steady money. That's a problem if you're already busy with your career.</li>
</ol>
Instead, Cuban encourages athletes to focus on investments that are low-risk, high-reward and capable of generating steady, passive income over time. &#8220;If I&#8217;m just a two-way player, I&#8217;m living like a student because you don't know how long it's going to last. It's hard when you first get money to understand what it is, how much you have,&#8221; he said.&nbsp;
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<h2 class="wp-block-heading">Dividend Kings: The Gold Standard of Passive Income</h2>
&#8220;You hear about people losing it all, so I tell guys all the time, &#8216;Save your money.&#8217; You know, one broken ankle and it's over,&#8221; Mark shared. So, for those seeking reliable passive income, Cuban would likely approve of <a href="https://www.benzinga.com/markets/24/11/42036427/could-these-three-passive-income-stocks-become-dividend-kings-in-the-near-future">Dividend Kings</a> – stocks from companies with a 50+ year history of increasing dividend payouts. Here's why they're worth it:
<ul>
<li>Stability and growth: Dividend Kings represent established companies with a proven track record of weathering economic storms while increasing payouts.</li>
<li>Passive income: By reinvesting dividends, you can compound your earnings over time or choose to use the payouts as a steady income source.</li>
<li>Long-term security: Big companies like Coca-Cola, Procter &amp; Gamble and Johnson &amp; Johnson are examples. These are solid picks if you want to grow your money over time.</li>
</ul>
<h2 class="wp-block-heading">How to Get Started</h2>
<ol>
<li>Open a brokerage account: Sign up on platforms like <a href="https://www.benzinga.com/money/fidelity-investments-review">Fidelity</a>, <a href="https://www.benzinga.com/money/vanguard-review">Vanguard</a> or <a href="https://www.benzinga.com/money/robinhood-review">Robinhood</a> to start buying stocks.</li>
<li>Reinvest dividends: Set up automatic reinvestment to maximize the power of compounding.</li>
<li>Diversify: Avoid putting all your eggs in one basket by building a portfolio across different industries.</li>
</ol>
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<h2 class="wp-block-heading">Fractional Real Estate: Ownership Without the Headaches</h2>
Not a fan of the stock market? <a href="https://www.benzinga.com/money/fractional-real-estate-investing">Fractional real estate</a> is another way to <a href="https://www.benzinga.com/money/how-to-earn-passive-income-in-real-estate-with-1000">earn passive income</a>. This innovative investment model lets you own shares of high-value properties without the responsibilities of full ownership.
<ul>
<li>Accessible ownership: Platforms like <a href="https://www.benzinga.com/money/fundrise-review">Fundrise</a> and <a href="https://www.benzinga.com/money/roofstock-review">Roofstock</a> allow investors to buy into properties with as little as $100, making it easier for athletes to diversify their portfolios.</li>
<li>Steady cash flow: Many properties earn rental income, which is shared with investors as passive income.</li>
<li>Long-term appreciation: Over time, properties usually increase in value, giving you both rent and profit if you sell.</li>
</ul>
<h2 class="wp-block-heading">How to Get Started</h2>
<ol>
<li>Choose a platform: Research reputable platforms offering fractional real estate investments.</li>
<li>Understand the terms: Look into fees, expected returns and holding periods before committing.</li>
<li>Build a balanced portfolio: Combine fractional real estate with other investment types to reduce risk.</li>
</ol>
Ultimately, Cuban said that if he's making 40-60 million, he's "hiring somebody that knows what they&#8217;re doing, but it ain't going to be one of my friends. Your friend wants to be your friend. My money guy needs to make me money."
Read Next:
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<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

'Don't Invest In Rap, Restaurant And Liquor Companies,' Says Mark Cuban. Here's His Advice To NBA Players And Other Millionaire Athletes

Billionaire investor Ray Dalio famously advised investors to increase their holdings in gold, warning of economic shifts.
What Happened: Dalio, who is recognized for his profound knowledge of economic history and market cycles, expressed his concerns about the future of the financial landscape in a 2012 speech.
Dalio believes that the current levels of government and corporate debt are unsustainable, and that aggressive central bank policies are devaluing currencies.
<a href="https://www.youtube.com/watch?v=7Slsh8dLPP8">Speaking</a> at the Council on Foreign Relations CEO Speaker Series in 2012, Dalio warned about a significant economic contraction and a restructuring of debt. He warned that the U.S. Treasury might be compelled to issue substantial amounts of debt, potentially exceeding available demand.
This could result in&nbsp;either significantly higher interest rates&nbsp;or extensive money printing by&nbsp;the Federal Reserve, which would further devalue the currency.
In light of these predictions, Dalio recommended a minimum 10-15% allocation to gold in investment portfolios. He sees gold as a vital diversifier and a hedge against currency devaluation and geopolitical uncertainties. 
Also Read: <a href="https://www.benzinga.com/news/24/12/42380616/ray-dalio-reveals-his-three-step-strategy-for-success">Ray Dalio Reveals His Three-Step Strategy For Success</a>
&#8220;If you don&#8217;t own gold, you know neither history nor economics,&#8221; Dalio said, highlighting the metal&#8217;s vital importance in weathering the challenges of an uncertain economic future.
Dalio also warned against overdependence on traditional equity investments, suggesting that diminishing returns could be imminent for those overly invested in stocks and equity-like assets.
Why It Matters: The economic landscape is continually changing, and investors need to adapt their strategies to navigate these shifts successfully. 
Dalio&#8217;s 2012 warnings highlight the potential risks associated with current levels of debt and aggressive central bank policies. His recommendations provide investors with a potential strategy to mitigate these risks, emphasizing the importance of diversification and the role of gold as a hedge against currency devaluation and geopolitical uncertainties.
As such, his insights could play a crucial role in shaping investment strategies in the coming months.
Read Next
<a href="https://www.benzinga.com/news/24/12/42257531/heres-how-ray-dalio-thinks-trumps-second-term-could-reshape-the-us-and-the-world" target="_blank" rel="noreferrer noopener">Here's How Ray Dalio Thinks Trump's Second Term Could Reshape the US and the World</a>

Ray Dalio's Timeless Advice: 'If You Don't Own Gold, You Know Neither History Nor Economics'

Backers of President-elect Donald Trump have donated over $200 million for his inauguration, political activities, and future presidential library.
What Happened:&nbsp;The fundraising efforts have been extraordinary, with donors and corporations aiming&nbsp;to curry favor with Trump as he prepares for his second term. 
This financial backing emerges after numerous business leaders distanced themselves from the President-elect following the Capitol violence incited by his supporters four years ago this week.
Among the donors pledging support&nbsp;for the inaugural events are&nbsp;Pfizer,&nbsp;OpenAI,&nbsp;Amazon, and&nbsp;Meta, in addition to several cryptocurrency firms. The total funds raised for the inaugural committee are anticipated to exceed the record&nbsp;$107 million raised for his&nbsp;2017 inauguration.
According to a report <a href="https://www.nytimes.com/2025/01/04/us/politics/trump-inaugural-donations.html">by</a> The New York Times, the fundraising surge also benefits a super PAC named Make America Great Again Inc. and its associated nonprofit group. Trump&#8217;s team intends to utilize these funds to bolster his agenda and support candidates who endorse it.
Also Read: <a href="https://www.benzinga.com/news/25/01/42804415/trump-targets-nyc-judges-and-e-jean-carroll-ahead-of-hush-money-case-sentencing">Trump Targets NYC Judges and E. Jean Carroll Ahead of Hush Money Case Sentencing</a>
Trump has proudly touted the fundraising success, asserting that he has&nbsp;raised more than $200 million&nbsp;since the election. His team has frequently emphasized the number of individuals eager to contribute to him following his election victory.
David Tamasi, a lobbyist who&nbsp;has fundraised for Trump, refuted the notion that corporations were donating to evade Trump's ire. However, he conceded that some donors might be attempting to compensate for their previous aloofness from the president-elect.
Why It Matters: This unprecedented fundraising effort underscores the enduring influence of Trump and the willingness of donors and corporations to align themselves with his administration, despite previous controversies. 
The funds raised will not only support the inauguration but also fuel Trump&#8217;s political operations and future presidential library, indicating a long-term investment in his political legacy. 
This development also highlights the role of corporate interests and their potential influence on political agendas.
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" target="_blank" rel="noreferrer noopener">Unlike His Behavior In E. Jean Carroll Case, Donald Trump Is ‘Going To Have Sit There' In Upcoming Criminal Case, Says Ex-Prosecutor</a>
Image: Shutterstock

AMZN

Trump Supporters Kick in More Than $200 Million for Inauguration and Political Operations

The New Year&#8217;s Day Tesla Cybertruck explosion in Las Vegas has put the spotlight on the data collection capabilities of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), <a href="https://www.benzinga.com/general/entertainment/25/01/42757028/tesla-cybertruck-ignites-outside-trump-international-hotel-in-las-vegas">spurring a discussion on privacy rights</a>.
What Happened: The explosion took place&nbsp;in front of the Trump&nbsp;International Hotel. The data gathered by Tesla played a crucial role in aiding the police to trace the driver&#8217;s movements, thereby establishing that the explosion resulted from explosives in the truck, and not a vehicle malfunction.
However, this incident has prompted concerns about the extent of surveillance by automobile companies. Jodi Daniels, CEO of Red Clover Advisors, questioned the boundaries of such data accessibility, asking, &#8220;Where is the line?&#8221;
According to the report <a href="https://apnews.com/article/tesla-las-vegas-explosion-cybertruck-elon-musk-789dc864a0c138fd7c36ca8c94b0fbfd">by</a> The Associated Press, modern vehicles not only track locations but also have access to sensitive information like contacts, call logs, and texts due to cell phone syncing.
"You might want law enforcement to have the data to crack down on criminals, but can anyone have access to it?" said Daniels.
This extensive data collection has drawn criticism from privacy experts like David Choffnes, Executive Director&nbsp;of the Cybersecurity and Privacy&nbsp;Institute at Northeastern University, who cautioned about potential data misuse by companies.
Also Read: <a href="https://www.benzinga.com/news/25/01/42803560/trump-hotel-bombers-chilling-messages-unearthed-time-to-wake-up-fight-to-get-dems-out-of-fed-government-and-military-by-any-means">Trump Hotel Bomber&#8217;s Chilling Messages Unearthed: &#8216;TIME TO WAKE UP, Fight To Get Dems Out of Fed Government and Military by Any Means&#8217;</a>
"It reveals the kind of sweeping surveillance going on. When something bad happens, it's helpful, but it's a double edged sword. Companies that collect this data can abuse it," Choffnes told the outlet. 
Despite the privacy concerns,&nbsp;Las Vegas Metropolitan Police Department&nbsp;Sheriff Kevin McMahill expressed appreciation to Elon Musk for the valuable information provided.
"I have to thank Elon Musk, specifically. He gave us quite a bit of additional information," he said. 
Sam Abuelsamid, an auto analyst at Telemetry Insight, voiced concerns over data handling by auto companies, stressing the importance of consumers having control over their data.
While Tesla&#8217;s privacy policy asserts that it adheres to strict rules for maintaining the privacy and security of names and information, the recent incident has ignited a discussion about the necessity for new national laws regulating car data.
Why It Matters: This incident underscores the dual-edged nature of data collection by auto companies. On one hand, it can aid in investigations and enhance safety measures. 
On the other, it raises serious privacy concerns. The debate over data privacy is not new, but incidents like these bring it to the forefront, highlighting the need for clear regulations and consumer control over personal data. 
As technology continues to evolve, so too must the laws that govern its use.
Read Next
<a href="https://www.benzinga.com/tech/24/12/42714387/tech-titans-warm-up-to-donald-trump-who-says-everybody-wants-to-be-my-friend-claims-bill-gates-asked-to-come-to-mar-a-lago" target="_blank" rel="noreferrer noopener">Tech Titans Warm Up To Donald Trump, Who Says ‘Everybody Wants To Be My Friend,' Claims Bill Gates Asked To Come To Mar-a-Lago</a>

Tech

Tesla's Data Collection Proves Crucial in Cybertruck Explosion Probe, but Raises Privacy Questions: Is Your Car Spying on You?

As we usher in the new year, the mobility sector has been buzzing with noteworthy developments. From&nbsp;Lucid Group Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) rolling out its Gravity SUV to&nbsp;Elon Musk&#8216;s clarification on the Cybertruck incident, the weekend was anything but quiet. Let&#8217;s dive into the top stories.
Lucid Motors Begins Deliveries of Gravity SUV
Over the last weekend, Lucid Motors began delivering its latest electric vehicle, the Gravity SUV. The first customers received their vehicles and left the factory in a convoy from the company&#8217;s Casa Grande, Arizona facility.
<a href="https://www.benzinga.com/tech/24/12/42736433/lucid-starts-deliveries-of-tesla-model-x-competitor-gravity-suv">Read the full article here.</a>
Musk Sheds Light on Cybertruck Incident
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Musk took to social media to clarify the recent explosion involving a Cybertruck outside the Trump International Hotel on New Year's Day. According to Musk, the explosion was caused by large fireworks or a bomb carried in the bed of the rented vehicle, not a design or functionality issue of the vehicle itself.
<a href="https://www.benzinga.com/tech/25/01/42757901/elon-musk-fireworks-or-explosive-device-caused-fatal-cybertruck-incident-at-las-vegas-trump-hotel-vehicle-was-rented">Read the full article here.</a>
MKBHD Sells Cybertruck, Endorses Rivian
Popular YouTuber and tech reviewer MKBHD, also known as Marques Brownlee, announced he has sold his Tesla Cybertruck and is now supporting rival automaker&nbsp;Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
<a href="https://www.benzinga.com/tech/24/12/42731115/tesla-vs-rivian-mkbhd-sells-cybertruck-tells-elon-musk-tesla-could-crush-with-this-ev">Read the full article here.</a>
Tesla&#8217;s Sales Drop Divides Wall Street
After Tesla&#8217;s fourth-quarter delivery figures fell short of analyst consensus estimates, Wall Street is divided on the company&#8217;s outlook for 2025. Some analysts believe this could be a make-or-break year for the EV giant.
<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">Read the full article here.</a>
Musk Envisions Reusable Heat Shield for SpaceX&#8217;s Starship
SpaceX CEO Elon Musk is confident about developing a fully reusable heat shield for the Starship next year. He also envisions uncrewed Starships landing on Mars in about 2 years and crewed Starships heading there in about 4 years.
<a href="https://www.benzinga.com/24/12/42718758/elon-musk-says-starship-will-get-fully-reusable-heat-shield-in-2025-i-am-confident">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/42763048/powering-up-charging-tesla-to-deploy-first-v4-superchargers-in-china-by-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla To Deploy First V4 Superchargers In China By 2025: Report</a></li>
</ul>
Photo courtesy: Tesla
 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>

LCID

RIVN

Lucid's Gravity SUV Rolls Out, Elon Musk On Tesla Cybertruck Blast Incident, And More: This Week In Mobility

President Joe Biden&#8216;s outgoing administration has proposed an $8 billion arms deal for Israel, marking one of the largest such deals since the Gaza war erupted in 2023.
What Happened: The proposed arms package encompasses thousands of bombs, missiles, and artillery shells. The deal, which was communicated to congressional officials last Friday, also includes the intended sale of precision munitions and air-to-air missiles.
The proposed sale is timed just weeks before Biden&#8217;s term ends and President-elect Donald Trump returns to office. This is the largest arms deal the U.S. government has proposed for Israel since the $20 billion weapons package approved earlier in August. The weapons are slated to start reaching Israel by 2025, <a href="https://www.wsj.com/politics/national-security/u-s-plans-8-billion-sale-of-arms-including-bombs-to-israel-6f184397?mod=hp_lead_pos1">reports</a> The Wall Street Journal.
Despite the strategic importance of the deal, it might face resistance from Democrats who have previously voiced concerns over the civilian casualties in the Gaza war. 
Also Read: <a href="https://www.benzinga.com/news/24/11/41703497/iran-flexes-nuclear-muscle-threatens-us-with-tooth-breaking-retaliation">Iran Flexes Nuclear Muscle, Threatens US With &#8216;Tooth-Breaking&#8217; Retaliation</a>
The Biden administration has been under pressure to limit weapons sales to Israel to decrease civilian deaths and exert pressure on Israeli Prime Minister Benjamin Netanyahu to agree to a cease-fire.
For the proposed sale to proceed, it still needs the green light from Congress. An&nbsp;administration official familiar with the&nbsp;deal stated, &#8220;We&nbsp;will continue to provide the&nbsp;capabilities necessary for Israel&#8217;s defense.&#8221;
Why It Matters: The proposed arms deal underscores the U.S.&#8217;s ongoing commitment to Israel&#8217;s defense, even amid international concerns over the Gaza conflict. 
The approval of this deal could significantly bolster Israel&#8217;s military capabilities, potentially altering the dynamics of the ongoing conflict. 
However, the deal&#8217;s potential impact on civilian casualties and the wider Middle East peace process will likely be a key consideration for Congress as it decides whether to approve the sale.
Read Next
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Image: Shutterstock

Global

Biden Proposes Massive $8 Billion Arms Deal, Including Bombs, for Israel

These eight mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) shares escalated 23.19% as the quantum computing sector saw increased interest.</li>
<li>VEON Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEON#NASDAQ">VEON</a>) stock surged 17.03%. The company announced that Kyivstar inked an agreement with Starlink to introduce groundbreaking direct-to-cell <a href="https://www.benzinga.com//node/42717832" target="_blank" rel="noreferrer noopener">satellite connectivity in Ukraine</a>.</li>
<li>NextDecade Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXT#NASDAQ">NEXT</a>) stock jumped 16.90% on gains in crude oil and natural gas prices.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) stock increased 16.05% amid continued interest sparked by reports that the company is evaluating an initial public offering (IPO) for<a href="https://www.benzinga.com//node/42710683" target="_blank" rel="noreferrer noopener"> its data center assets in China</a>.</li>
<li>Acadia Healthcare Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHC#NASDAQ">ACHC</a>) shares rose 14.79% on U.S. healthcare executives&#8217; bullish outlook for 2025.</li>
<li>Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) shares were up 13.89% last week. The stock was on the top ten trending list on WallStreetBets.</li>
<li>Banco BBVA Argentina (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAR#NYSE">BBAR</a>) shares increased 11.81%, joining the ride in Argentina stocks.</li>
<li>Transportadora de Gas del Sur SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGS#NYSE">TGS</a>) stock grew 11.93%, joining the ride in Argentina stocks.</li>
</ol>
Image via Shutterstock

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