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Arch Biopartners Inc is a late-stage clinical trial company focused on preventing acute kidney injury and organ damage caused by inflammation. The company is developing a platform of novel drugs that target the dipeptidase-1 (DPEP1) inflammation pathway, which is prevalent in the kidneys, lungs, and liver.

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The past week has been a whirlwind of news, with significant developments in politics, business, and international relations. From Elon Musk&#8217;s controversial demands to federal workers, to President Trump&#8217;s decision to proceed with tariffs on Canada and Mexico, the news cycle has been anything but dull. Here&#8217;s a recap of the major stories that unfolded over the weekend.
Musk&#8217;s DOGE Directive Faces Backlash
Elon Musk, chief of the Department of Government Efficiency (DOGE), stirred controversy by insisting federal employees justify their roles via email or risk losing their jobs. This move, Musk claimed, aligns with President Trump&#8217;s directive to eliminate federal waste and fraud. However, the FBI&#8217;s Kash Patel advised employees not to respond to Musk&#8217;s demands.
<a href="https://www.benzinga.com/news/25/02/43902918/elon-musk-demands-federal-workers-justify-their-jobs-fbis-kash-patel-tells-employees-not-to-respond">Read the full article here.</a>
DOGE&#8217;s $55 Billion Savings Overstated?
Further controversy surrounds Musk&#8217;s DOGE as a Wall Street Journal analysis suggests the department may have overstated its savings from federal spending cuts. The DOGE, under the stewardship of Tesla CEO Musk, has been touting savings of $55 billion, primarily from canceled DEI and climate contracts.
<a href="https://www.benzinga.com/markets/25/02/43906977/elon-musks-doge-savings-of-55-billion-may-be-overstated-wsj-analysis-reveals-the-likely-actual-figure">Read the full article here.</a>
Trump Threatens to Halt Military Aid to Ukraine
Following a tense exchange with Ukrainian President Vladymyr Zelenskyy, President Donald Trump is reportedly considering halting all shipments of military aid to Ukraine. This decision could potentially end the delivery of billions of dollars worth of equipment, including radars, vehicles, ammunition, and missiles.
<a href="https://www.benzinga.com/25/02/44062221/trump-may-stop-all-military-aid-to-ukraine-after-tense-exchange-with-zelenskyy-report">Read the full article here.</a>
Trump Confirms Tariffs on Canada, Mexico
Despite concerns over economic impact, President Trump confirmed that his administration will proceed with tariffs on imports from Canada and Mexico next week. This decision marks a significant shift in North American trade relations, affecting two of the U.S.&#8217;s largest trading partners.
<a href="https://www.benzinga.com/news/global/25/02/43926015/trump-confirms-tariffs-on-canada-mexico-will-take-effect-as-planned">Read the full article here.</a>
Vivek Ramaswamy Announces Ohio Gubernatorial Bid
Former presidential candidate Vivek Ramaswamy has announced his intention to run for the Ohio governorship in 2026. President Trump has endorsed Ramaswamy&#8217;s bid, calling his former GOP primary rival &#8220;something special&#8221;.
<a href="https://www.benzinga.com/25/02/43932037/bitcoin-friendly-vivek-ramaswamy-announces-bid-for-ohio-governor-avoids-mentioning-doge-in-cincinnati-rally">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>

News

Politics

TSLA

Musk's DOGE Controversy, Trump's Trade Tariffs, And Ramaswamy's Gubernatorial Bid: This Week In Politics

Thousands of federal workers are being fired under the Trump administration's efforts to <a href="https://www.benzinga.com/startups/25/01/43046108/musks-doge-ambitions-shrink-why-2-trillion-budget-cuts-may-be-out-of-reach">shrink the government</a>. Officials say the cuts are about improving efficiency and reducing waste, but experts argue that these <a href="https://www.benzinga.com/news/25/02/43901182/bernie-sanders-warns-if-elon-musk-can-fire-hundreds-of-thousands-of-federal-employees-imagine-what-hell-do-to-private-sector-workers">mass terminations</a> could come at a staggering financial cost.
<h2 class="wp-block-heading">Employees With Positive Reviews Fired</h2>
<a href="https://www.theguardian.com/us-news/2025/feb/21/trump-mass-firings-federal-government-bill">The Guardian reported</a> last week that many of the fired employees were allegedly let go for &#8220;poor performance&#8221;—a claim that workers and legal experts say is not always true. Some employees, who had received positive performance reviews, were shocked to receive termination notices.
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Jacob Malcom, a former deputy assistant secretary at the Department of the Interior, resigned in protest over mass firings of probationary employees. &#8220;This is being done under the guise of ‘poor performance' or ‘skills not aligned with needs' but neither are true,&#8221; he told The Guardian.
One former U.S. Forest Service employee, who was just weeks away from securing permanent status, said they lost their job despite excellent performance reviews. &#8220;I've lost my medical insurance. I have an incurable disease that I kind of need a doctor for. I won't be able to pay those bills. I'm waiting for my eviction notice right now,&#8221; they told The Guardian.
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<h2 class="wp-block-heading">Experts Warn of Huge Financial Costs</h2>
Legal experts say that firing so many workers without following proper procedures may lead to serious financial consequences. Suzanne Summerlin, a labor attorney, warned that the administration's actions will result in the government owing fired employees "back pay, plus interest, plus benefits, plus attorneys&#8217; fees.&#8221; She added, &#8220;When the bill comes, it will be monumental.&#8221;
Elon Musk's Department of Government Efficiency has been overseeing the effort, authorized by President Donald Trump. But critics say it is causing chaos, removing experienced workers who handle critical government functions, from nuclear security to the response to the bird flu epidemic.
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<h2 class="wp-block-heading">Legal Battles and Calls for Congress to Step In</h2>
Unions have attempted to block the mass firings, but a federal judge recently ruled against their lawsuit, saying they must take their case to the federal labor board. Meanwhile, pressure is growing for Congress to intervene. Kia Hamadanchy, senior policy counsel at the American Civil Liberties Union, said, &#8220;These mass layoffs undermine essential government functions and threaten a key check on executive power.&#8221;
The Trump administration defends the firings, saying they are necessary to cut down on government waste. &#8220;President Trump and his administration are delivering on the American people's mandate to eliminate wasteful spending and make federal agencies more efficient,&#8221; White House spokesperson Anna Kelly said, The Guardian reported.&nbsp;&nbsp;
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'When The Bill Comes, It Will Be Monumental'—Experts Warn Trump's Mass Federal Firings Could Leave A Tremendous Financial Burden

When it comes to saving money, it&#8217;s often the little things that add up over time. A Reddit user recently <a href="https://www.reddit.com/r/Frugal/comments/1isp4fu/whats_a_small_habit_that_has_saved_you_a/">asked</a> the frugal community to share their best small, low-effort habits that have <a href="https://www.benzinga.com/personal-finance/25/02/43443687/dave-ramsey-says-if-you-want-to-waste-5000-a-year-spend-13-70-a-day-on-things-you-dont-need">saved them a surprising amount of money</a>—and the responses came flooding in. From cutting out fast food to unsubscribing from sales emails, people shared all kinds of simple yet effective strategies for keeping more cash in their pockets.
<h2 class="wp-block-heading">Simple Habits That Save Money</h2>
One of the most common <a href="https://www.benzinga.com/money/how-to-save-money-fast">money-saving hacks</a>? Unsubscribing from marketing emails. "Keep temptations out of my email inbox," one person said, noting that they stopped getting lured into sales they didn&#8217;t need to shop in the first place. Another user took it a step further: "I have a separate email account for that and only check it when I'm already committed to buying something and want to see if I can get an additional percentage off."
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Many Redditors emphasized the importance of pausing before making a purchase. One popular comment suggested: "Before buying something, ask yourself if you have time to keep it clean. If it's going to sit on a shelf and get dusty, don't buy it." Others follow a simple rule: "If I want it, I wait at least until the next day.&#8221; Most of the time, you&#8217;ll realize you don't really need it.
Food expenses were a major focus, with many users pointing out that cooking at home <a href="https://www.benzinga.com/personal-finance/25/01/42880871/a-couple-asks-can-you-get-away-with-spending-only-300-per-month-on-groceries-heres-what-people-said-most-agreed-on-this-one-thing">saves a significant amount of money</a>. Many people stopped buying fast food. Some for health, others because they were spending too much money on it. Another person added: "Checking the fridge and pantry and coming up with a list of dinners I can make with food we already have BEFORE going to the grocery store."
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Others recommended skipping expensive drinks: "I don't order drinks at restaurants—no beer, no cocktails, no iced tea. Restaurant bills are halved." And for those who love their morning caffeine? "Make the coffee at home and stop buying &#8220;designer&#8221; overpriced burnt coffee from chains and franchises," one person said.
Another highly upvoted comment emphasized the power of automation: "Can't touch it if you don't see it.&#8221; Set up automatic transfers to your savings so you don't even have to think about it. Others take it even further, automating everything from savings to bill payments. "Automate all finances. Direct deposits, auto-deduct pre and post-retirement accounts, automate savings, automate paying full balances to credit cards every month, etc."&nbsp;
A simple trick that worked for many? Leaving things in their cart for a while. One user wrote: "Leaving things in my cart for 24-48 hours. I usually come back and realize I don't actually want any of that crap." Sometimes, stores even offer discounts to encourage the purchase.
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Several people found that shopping was often a coping mechanism. One user admitted, "I stopped buying things for emotional regulation. From no saving to 1k saving (each month) in months.&#8221; Others walk around their neighborhood, read, or do something with their hands instead of spending money.&nbsp;
These tiny, intentional habits prove that <a href="https://www.benzinga.com/personal-finance/24/08/40489379/charlie-munger-called-this-a-no-brainer-spend-less-than-you-make-always-be-saving-something-put-">saving money doesn't have to be complicated</a>. A little self-awareness, automation, and smart daily decisions can result in serious financial benefits over time. As one user summed it up perfectly: "This is going to sound very boomer-ish: I have learned to not take things for granted and be happy with what I have. Every time I think I want to buy something, I ask myself, ‘Why?'"
Sometimes, that&#8217;s all it takes to keep more money in your pocket.
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Personal Finance

Someone Asked For Small Money-Saving Habits That Made A Big Difference And The Responses Poured In—'Can't Touch It If You Don't See It'

For many business owners, the idea of owning property is an attractive one. After all, real estate is often seen as a solid investment, and having control over your space can be appealing. However, financial expert <a href="https://www.benzinga.com/personal-finance/25/02/43893926/you-can-be-a-student-without-a-student-loan-dave-ramseys-advice-to-paying-cash-for-college">Dave Ramsey</a> warns that purchasing property for your business isn't always the best move. In a conversation on the "EntreLeadership" <a href="https://www.youtube.com/watch?v=791DZCn8DDg">podcast</a> recently, Ramsey explained why leasing may be the smarter option—especially for growing businesses.
<h2 class="wp-block-heading">The Temptation to Buy</h2>
During the episode, a caller named Mike from Dallas shared his situation. He owns a commercial Christmas décor business that supplies large holiday displays for major locations like casinos, hospitals, and town centers. The company is profitable, with a projected $1.8 million in revenue for this year, and doesn't have any debt. However, the business is struggling with storage. Mike currently leases three separate warehouses and is considering building his own space to streamline operations.
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While Mike's desire to <a href="https://www.benzinga.com/markets/24/12/42653846/youll-never-own-your-house-the-government-does-robert-kiyosaki-argues-your-home-is-never-an-asset-because-property-taxes-are-forever">own a property</a> is understandable, Ramsey pointed out that doing so could shift focus from the core business to real estate ownership.
<h2 class="wp-block-heading">The Flexibility of Leasing</h2>
Ramsey emphasized that there is no requirement for a business to own its property in order to be successful. In fact, he warned that real estate can sometimes dictate business decisions rather than the other way around. If Mike invests in a warehouse that fits his current needs but later outgrows it, he may face costly limitations. Even if he buys a slightly larger space, growth could eventually force them to lease additional locations anyway.
"Don't let the real estate start telling the business what to do instead of the business telling the real estate what to do," Ramsey said.
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He provided an example from the <a href="https://www.benzinga.com/news/25/02/43903392/should-we-buy-a-house-or-invest-in-our-restaurant-business-the-ramsey-show-weighs-in">restaurant industry</a>. A business owner may buy a building in a prime location, but if that area loses its appeal after 15 years, they might hesitate to move because they own the property. As a result, the restaurant could suffer. Similarly, a warehouse that works well today might not be ideal in a few years, and owning it could make relocation more complicated.
<h2 class="wp-block-heading">A Smarter Approach</h2>
So, what should business owners do instead? Ramsey suggested finding a large warehouse to lease—one that provides enough space for operations while maintaining flexibility for future growth. Ideally, he recommends negotiating a lease with an option to purchase. While this can be challenging, especially with real estate investment trusts owning many properties, persistence can pay off.
In his own experience, Ramsey once leased a building with an option to buy, allowing him time to gather the necessary funds. Eventually, he purchased the property, but as his business expanded, he outgrew it—reinforcing the idea that ownership can sometimes become a restriction.
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<h2 class="wp-block-heading">The Bottom Line</h2>
For <a href="https://www.benzinga.com/news/25/01/42829469/youve-completely-screwed-this-up-a-business-owner-asks-dave-ramsey-for-help-my-dad-rakes-in-20000-a-month-and-contributes-nothing">business owners</a> debating whether to buy or lease, Ramsey's advice is clear: prioritize flexibility. Renting the right space and being willing to move as the business grows can prevent financial strain and allow for smoother expansion. While real estate ownership has its advantages, it should never come at the expense of business success.
As Ramsey put it, "I would rather you rent the right thing at the right place and then just move every five or ten years to the right size and always be a renter than go into debt and buy something and be trapped in it."
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Why Owning Property Isn't Always The Smart Move For Business Owners, According To Dave Ramsey

Kim Vaccarella bet her kids&#8217; college fund on her business and lost it all.
The founder of Bogg Bag dumped $60,000 into what she thought would be her big break in 2012—a massive order of her waterproof tote bags. When the shipment arrived, her heart sank. Black streaks covered every bag, rendering them unsellable.
&#8220;I went for broke and spent my kids&#8217; college money and bought a full container&#8217;s worth, and they were all bad,&#8221; Vaccarella <a href="https://www.cnbc.com/2025/02/22/highly-successful-ceos-share-best-tips-for-responding-to-setbacks.html">told CNBC Make It</a>.
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Instead of giving up, she donated the defective bags to Hurricane Sandy victims. Those recipients started asking where they could buy more. With renewed confidence, she secured a $120,000 loan from a family friend and rebuilt.&nbsp;
Today, Bogg Bag rakes in roughly $100 million annually.
Entrepreneurs <a href="https://www.benzinga.com/startups/24/12/42618228/mark-cuban-admits-ive-gotten-beat-after-losing-20-million-on-shark-tank-startups">face setbacks all the time</a>. Some crumble. Others transform those disasters into stepping stones. CNBC Make It interviewed a few business owners who survived potentially career-ending failures before building multimillion-dollar companies.
Karen Robinovitz and Sara Schiller launched The Sloomoo Institute, a hands-on slime experience venue, in October 2019. After investing $600,000, they sold $1 million in tickets their first week. Then COVID hit.
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Five months after opening, they laid off 90 part-time workers, keeping just their co-CEOs, a bookkeeper, and their slime expert.
Rather than folding, they hustled. They switched to online slime sales. They created virtual slime-making camps for kids stuck at home. They ran corporate workshops for companies like Google and Pfizer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) until they could fully reopen in 2021.
It paid off. Now, their five U.S. locations bring in about $4.3 million monthly from in-person tickets.
&#8220;We want people to know that you can choose to try, get out there and do something that&#8217;s never been done before,&#8221; Schiller told CNBC. &#8220;After what we&#8217;ve both been through, what are we going to be afraid of now?&#8221;
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Sometimes the biggest obstacle is the reflection in the mirror. Shizu Okusa learned the lesson after watching her first company, Jrink, collapse despite seven years in business.
The cold-pressed juice company couldn&#8217;t overcome high costs and rapid spoilage. But Okusa admits her management style was the deeper problem.
&#8220;One of the key lessons was getting out of my own way,&#8221; Okusa told CNBC. She treated Jrink like her baby, refusing to trust her team with critical decisions. &#8220;In terms of allowing and hiring people that were much better than I was in certain areas of business. Now, I just move aside. I have my strengths and give my weaknesses away.&#8221;
These entrepreneurs&#8217; stories reveal common threads—an unwavering belief in your concept, willingness to adapt when plans implode, and knowing when to get out of your own way.
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From Losing $60K To Running a $100M Business: CEOs Share Their Biggest Lessons

Affluent Americans are fueling an unprecedented portion of economic growth, creating potential vulnerability if their spending habits change.
<a href="https://www.benzinga.com/personal-finance/25/02/43539942/are-you-rich-heres-what-americans-think-you-need-to-be-considered-wealthy-2">High-income households</a> now generate nearly half of all consumer purchases—a shift from three decades ago when the same high-income consumers accounted for roughly a third of spending.
&#8220;The finances of the well-to-do have never been better, their spending never stronger and the economy never more dependent on that group,&#8221; Mark Zandi, chief economist at Moody&#8217;s Analytics, <a href="https://www.wsj.com/economy/consumers/us-economy-strength-rich-spending-2c34a571?mod=hp_lead_pos7">told The Wall Street Journal</a>.
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The top 10% of earners, those making about $250,000 annually or more, now account for 49.7% of all spending, according to a The Journal. The dependency has reached record levels in data going back to 1989.
While wealthy shoppers increased their purchasing by 12% between September 2023 and September 2024, according to the report, while middle and working-class spending actually declined during the same period.
The spending divide becomes clear when examining four-year trends. Upper-income households boosted expenditures by 58% since 2020, while everyone else managed just 25% growth—at the same time, prices have increased about 21%.
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The disparity is largely the result of pre-COVID and post-COVID asset appreciation benefiting property and stockholders The Journal's figures show top earners&#8217; collective net worth swelling by $35 trillion since late 2019.
The wealth effect transforms spending habits. &#8220;A rising net worth certainly gives you confidence to do more things,&#8221; Tom Shoaf, a New Mexico test pilot earning about $500,000 annually with his wife, told The Journal.
Bank of America&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) transaction data confirms spending by their wealthiest customers growing faster than lower-earning clients.
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&#8220;They&#8217;re going to Paris and loading up their suitcases with luxury bags and shoes and clothes,&#8221; David Tinsley, senior economist for the Bank of America Institute, told the Journal.
Luxury travel particularly benefits. Premium airfare sales at Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) rose 8% while standard tickets gained only 2%.
Meanwhile, retailers serving budget-conscious shoppers struggle. &#8220;It&#8217;s an extreme bifurcation,&#8221; JPMorgan Chase analyst Matthew Boss said. &#8220;They&#8217;re all battling for fewer dollars.&#8221;
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The Rich Are Spending 58% More—Can The Economy Survive If They Stop?

The late Charlie Munger, renowned investor and vice chairman of Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), once asserted that 95% of investors stand no chance of outperforming the S&amp;P 500 Index.
What Happened: During an interaction a few years ago, Munger shared his thoughts on the challenges investors face in trying to outperform the market. Munger, who passed away in 2023, was a close associate of Warren Buffett, and his advice remains highly valued in the investment world.
Munger acknowledged the dominance of index funds like the S&amp;P 500, which represents a significant portion of the market. 
He <a href="https://www.youtube.com/watch?v=6vlqrfRn7Bg">warned </a>against the risks of excessive popularity in index investing, drawing parallels to the Nifty Fifty era, where a narrow focus on a select group of stocks led to unsustainable market conditions and subsequent downturns.
&#8220;95% of people have no chance of beating the S&amp;P 500 Index. The index funds of the S&amp;P, it's like 75% of the market. But is there a point where index funds theoretically can't work? Of course. If everybody bought nothing but index funds, the whole world wouldn't work as people expect," Munger said.
"If you get too much faddishness in one sector or in one narrow index, of course you can get catastrophic changes like they had with the Nifty 50 in that former era," he added. "I don't see that happening when the index is three-quarters of the whole market. The problem is the whole thing can't work perfectly forever, but it will work for a long time."
Also Read: <a href="https://www.benzinga.com/news/25/02/43903504/charlie-mungers-financial-success-and-longevity-advice-my-game-in-life-was-always-to-avoid-all-standard-ways-of-failing">Charlie Munger&#8217;s Financial Success and Longevity Advice: &#8216;My Game in Life Was Always To Avoid All Standard Ways of Failing&#8217;</a>
&#8220;One of the reasons you buy a big index like the S&amp;P is because if you buy a small index and it gets popular, you have a self-defeating situation. When the Nifty 50 were the rage, JP Morgan talked everybody into buying just 50 stocks and they didn't care what the price was, they just bought those 50 stocks. Of course in due time, their own buying forced those 50 stocks up to 60 times earnings whereupon it broke and everything went down by like two-thirds quite fast," he added. 
"I would hate to manage a trillion dollars in the big stocks and try and beat the indexes. I don't think I could do it. In fact, if you look at Berkshire, take out a hundred decisions, which is like two a year, the success of Berkshire came from two decisions a year over 50 years," Munger continued while talking about S&amp;P. 
As index investing gained popularity, Munger observed a downward trend in fees for managing large portfolios. He highlighted the challenges facing investment professionals who must adapt to a changing landscape where fee structures are increasingly competitive.
"We may have beaten the indexes, but we didn't do it by having big portfolios of securities and having subdivisions managing the drugs and subdivisions, and so the indexes are a hell of a problem for you people, but you know, why shouldn't life be hard?" he said. 
Why It Matters: Munger&#8217;s insights underscore the formidable challenges inherent in trying to beat the S&amp;P 500 Index. While index funds offer benefits such as diversification and cost-effectiveness, they also present hurdles for investors seeking to outperform the market. 
The rise of index investing has led to a competitive fee environment, putting pressure on investment professionals to adapt and innovate.
Read Next
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Success Stories

Markets

Charlie Munger's Investment Wisdom: '95% Of People Have No Chance Of Beating S&P 500 Index'

OpenAI, the artificial intelligence research lab, is under fire for its plans to transition from a non-profit to a for-profit business. 
What Happened: The move has been met with opposition from various quarters, including Elon Musk, who argue that it could have significant implications for the control of AI technology. OpenAI&#8217;s CEO, Sam Altman, intends to separate the company&#8217;s revenue-generating business from its non-profit parent organization. 
The aim is to create a more traditional company that can attract investments and provide returns to shareholders.
According to the report <a href="https://www.businessinsider.com/openai-elon-musk-sam-altman-for-profit-conversion-2025-2">by </a>Insider, the proposal has stirred controversy due to OpenAI&#8217;s intricate corporate structure, the billions it has already amassed from investors, and Elon Musk&#8217;s efforts to thwart the deal. Critics, including entrepreneurs, investors, academics, and activists, contend that OpenAI could be making a serious error.
Jungwon Byun, co-founder of AI lab Ought, which underwent a similar transition, cautioned against the move. &#8220;Artificial general intelligence is the most transformative technology of our lifetime&#8230; giving up governance rights to controlling the most important technology of our lifetime is an insanely huge decision and will affect all of humanity at a very great scale for a long time,&#8221; she told the outlet.
Also Read: <a href="https://www.benzinga.com/news/24/03/37766544/elon-musk-is-feuding-with-sam-altman-in-a-major-lawsuit-over-openai-and-one-appears-to-already-have">Elon Musk Is Feuding With Sam Altman In A Major Lawsuit Over OpenAI — And One Appears To Already Have The Upper Hand</a>
OpenAI was founded as a non-profit in 2015, but&nbsp;its need for capital to&nbsp;fund AI development led&nbsp;it to establish a for-profit&nbsp;subsidiary. The company now aims&nbsp;to transition to a more&nbsp;conventional corporate structure, turning the&nbsp;for-profit subsidiary into an independent&nbsp;public benefit company that oversees &#8220;OpenAI&#8217;s operations and business.&#8221;
Elon Musk, an OpenAI co-founder who parted ways with Altman, has taken legal action against&nbsp;the startup over its plans.&nbsp;Musk and a group of&nbsp;other investors also made a&nbsp;bid in February to acquire&nbsp;the non-profit&nbsp;parent OpenAI Inc. for $97.4&nbsp;billion,&nbsp;more than half of the&nbsp;total value of the entire&nbsp;startup based on its most&nbsp;recent funding round.
The OpenAI board, led by Bret Taylor and including Altman, Fidji Simo, Larry Summers, and other business luminaries, has dismissed Musk&#8217;s bid. &#8220;OpenAI is not for sale, and the board has unanimously rejected Mr. Musk&#8217;s latest attempt to disrupt his competition,&#8221; Taylor stated.
The attorneys general of California and Delaware are both investigating the specifics of the transition, adding another layer of complexity to OpenAI&#8217;s plans.
Why It Matters: The transition of OpenAI from a non-profit to a for-profit entity is a significant move that could have far-reaching implications for the control of AI technology. 
The controversy surrounding the decision underscores the challenges that such organizations face when they seek to balance the need for capital with their mission to serve the public good. 
The outcome of this situation could set a precedent for other AI research labs considering similar transitions in the future.
Read Next
<a href="https://www.benzinga.com/tech/24/12/42257564/musk-goes-to-court-to-block-openais-for-profit-transition">Musk Goes To Court To Block OpenAI&#8217;s For-Profit Transition</a>

Tech

Elon Musk Battles OpenAI Over Move To For-Profit Model — And Experts Are Pushing Back

The results of mortgage exchange operator Intercontinental Exchange's November 2024&nbsp; ICE Mortgage Monitor, shows American homeowners are sitting on $11.2 trillion in accessible equity. The total equity is $17.2 trillion, but the available amount is smaller because most<a href="https://www.benzinga.com/money/is-a-home-equity-loan-a-good-idea"> home equity</a> lenders don't like lending out more than 80% of the homeowner's equity. Nevertheless, ICE Mortgage Monitor's study illustrates the unprecedented borrowing power possessed by American homeowners.
The study showed that the average homeowner has $319,000 worth of equity in their home, with $207,000 of it being accessible. ICE noted that despite the available equity, borrowers have been using it at only half the 10-year average of 0.92%. Second mortgages are down by 26% and cash-out refinances declined by 69% in relation to normal borrowing activity. It's likely that reticence to access equity by homeowners has something to do with interest rates
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"Despite a two-year high for equity withdrawals in the third quarter, homeowners are still tapping their housing wealth at less than half the rate they have historically." ICE Vice President of Research and Analysis Andy Walden said
He continued, "Second lien withdrawal rates are currently running more than a quarter below ‘normal' and cash-out refi withdrawals are still down almost 70%. Over the past 10 quarters homeowners have extracted $476B in equity, exactly half the extraction we'd expect to see under more normal circumstances. That equates to nearly a half a trillion untapped dollars that hasn't flowed back through the broader economy."
&nbsp;The ICE study results also speak to the strength of the "lock-in effect," where today's homeowners are reluctant to sell because of the likelihood that they will re-enter a home market with reduced buying power due to higher home prices and mortgage rates. Now it appears that the "lock-in" effect is taking a chunk out of home equity borrowing as well. The good news for homeowners is that they have equity to access at all.&nbsp;
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That's what it looks like on the winning side of this equation. On the other side, sit prospective buyers, who are taking hits from all sides. The lock-in effect means less inventory, while high construction costs keep developers in the most inventory-starved markets on the sidelines. The high interest rates are a double whammy for buyers because developers depend on financing to get projects off the ground and buyers need financing to complete purchases.&nbsp;&nbsp;&nbsp;
Buyers are also growing more pessimistic about the prospect of interest rates ever returning to the low-single digits like they were between the great financial crisis of 2008 and the COVID-19 pandemic. A New York Federal Reserve study on consumer expectations released last May showed respondents believe interest rates will be near 10% in the next three years.
Although that study came out before the<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42995279/federal-reserve-policy-reversal-buzz-around-2025-rate-hikes-gains-momentum-its-a-paper-barrier-will-break-through-it-quickly-if-the-data-becomes-overwhelming"> Federal Reserve</a> lowered interest rates in late 2024, buyer pessimism remains high. The Fed's recent decision to pause the rate cuts due to fears over rising inflation put even more buyers back into a holding pattern. All told, it means the housing affordability crisis isn't going to get better anytime soon. If you're already an owner, you're likely sitting on a pile of equity.&nbsp;
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Real Estate

Winners And Losers In The Real Estate Market—American Homeowners Are Sitting On $11.2 Trillion In Equity

Author Robert Kiyosaki has raised an alarm about the potential collapse of the world&#8217;s financial system, advocating Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a possible safeguard <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42804530/robert-kiyosaki-predicts-massive-market-crash-save-gold-silver-bitcoin-crash-is-here">against the impending crisis</a>.
What Happened: Kiyosaki, best known for his finance book &#8220;Rich Dad Poor Dad,&#8221; has voiced his apprehensions about the stability of the global financial system on X. 
Kiyosaki&#8217;s concerns are not centered on Bitcoin, as some critics might suggest, but rather on the&nbsp;US Dollar and the US&nbsp;Banking System, beginning with the Federal Reserve. He borrowed the term &#8220;banksters&#8221; from podcaster Gerald Celente to describe those in charge of American banks.
&#8220;I predict a collapse of our financial system. Please protect your self from the banksters. Buy real gold, silver, and Bitcoin,&#8221; he posted on X.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Is BITCOIN a SCAM? It might be…. But not a big a scam as the US Dollar and the US Banking System…. Starting with the Fed. They are BANKSTERS. For example…. When they F. U. and lose billions…. The criminals at the Fed bail them out. They should go to jail. That's…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1895707780809708002?ref_src=twsrc%5Etfw">March 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
As evidence of this &#8220;scam,&#8221; Kiyosaki highlighted the 2023 bank collapse, during which&nbsp;the U.S. government and the&nbsp;Federal Reserve rescued failing&nbsp;banks by printing billions of&nbsp;dollars. He asserts that those responsible should be held legally accountable.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43759418/robert-kiyosaki-predicts-wall-street-crash-and-layoffs-prepare-for-market-crash-depression-and-war">Robert Kiyosaki Predicts Wall Street Crash and Layoffs: &#8216;Prepare for Market Crash, Depression and War&#8217;</a>
The finance guru warned that the Federal Reserve&#8217;s &#8220;criminal enterprise&#8221; cannot sustain indefinitely and anticipates a looming collapse of the U.S. and global financial systems. Given this scenario, Kiyosaki recommends investing in Bitcoin, physical gold, and silver as safe-haven assets.
Despite his endorsement of Bitcoin, Kiyosaki advised against investing in Bitcoin ETFs, branding them as &#8220;bankster&#8217;s money&#8221; and underlining the significance of owning actual Bitcoin. At the time of writing, Bitcoin is trading at $84,972.
Why It Matters: Kiyosaki&#8217;s warning comes at a time when global economies are still grappling with the financial implications. His advocacy for Bitcoin and other safe-haven assets underscores the growing acceptance of cryptocurrencies as legitimate and potentially stable investments. 
However, his caution against Bitcoin ETFs highlights the ongoing debate about the authenticity and security of such financial products. As the world braces for potential financial turbulence, Kiyosaki&#8217;s advice offers a perspective on alternative investment strategies.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Robert Kiyosaki Forecasts Global Financial Meltdown, Recommends Bitcoin As Safe Haven: 'Buy Bitcoin, Gold and Silver'

President Donald Trump is reportedly set to sign an executive order, designating English as the <a href="https://www.benzinga.com/news/global/25/03/44065363/zelenskyys-clash-with-trump-sparks-chaos-for-allies-trump-says-its-not-going-to-be-pretty-without-us-he-doesnt-win" target="_blank" rel="noreferrer noopener">official language of the United States</a>.
White House officials stated that the order aims to improve government efficiency and promote national unity, BBC <a target="_blank" href="https://www.bbc.com/news/articles/cn9v1l80350o" rel="noreferrer noopener">reports</a>.
Along with this move, Trump plans to eliminate the requirement for federal agencies to provide language services to non-English speakers, a policy originally enacted in 2000 by President Bill Clinton.
Meanwhile, people seeking U.S. citizenship must pass an English test, showing they can read, write, and speak basic English, NBC News <a target="_blank" href="https://www.nbcnews.com/politics/donald-trump/trump-sign-executive-order-making-english-official-us-language-rcna194210" rel="noreferrer noopener">reports</a>, citing U.S. Citizenship and Immigration Services.
Currently, nearly 68 million of the United States&#8217; 340 million residents speak a language other than English, including over 160 Native American languages, according to the U.S. Census Bureau.
Also Read: <a target="_blank" href="http://benzinga.com/markets/25/03/44065643/will-musks-cuts-spark-a-government-shutdown-tensions-rise-ahead-of-march-14-deadline" rel="noreferrer noopener">Will Musk&#8217;s Cuts Spark a Government Shutdown? Tensions Rise Ahead of March 14 Deadline</a>
Trump&#8217;s executive order will roll back the provisions ensuring that government programs are accessible to people with limited English proficiency, though agencies will still be able to provide language access voluntarily.
While Republicans have long pushed for English to be declared the official language, opposition remains strong.
Critics argue that doing so could foster discrimination against non-English speakers and harm the nation&#8217;s multicultural fabric.
Many also point out that the U.S. has functioned without an official language for nearly 250 years since its founding.
During his presidential campaigns, Trump has frequently made strong statements about non-English languages, emphasizing the importance of English for national unity, BBC adds.
The U.S. joins other nations in the debate over whether a single official language should be designated, though many countries, like the UK, have no official language at all.
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</ul>

General

Trump To Declare English Official Language of US: What Does Executive Mean?

Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella is <a href="https://www.youtube.com/watch?v=4GLSzuYXh6w">making an important distinction</a> between "knowledge work" and "knowledge workers" as <a href="https://www.benzinga.com/news/25/02/43903135/ais-19-9-trillion-impact-could-create-the-first-trillionaire-but-mark-cuban-says-it-wont-be-musk-or-bezos">artificial intelligence</a> continues to reshape industries.&nbsp;
He recently said he sees AI as a tool that will redefine cognitive labor, but not in a way that makes human workers irrelevant. Instead, much like past technological shifts—think fax machines giving way to email—AI will change how people work rather than replace them.
<h2 class="wp-block-heading">How AI Is Reshaping Knowledge Work</h2>
Nadella's perspective is pretty straightforward: AI isn't about taking jobs away, it's about shifting how we approach them. He compares AI's impact to the way spreadsheets revolutionized accounting or how email made communication faster. Those tools didn't make workers obsolete—they made work more efficient.&nbsp;
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AI, he argues, will follow the same pattern by handling repetitive, time-consuming tasks so that employees can focus on the big-picture thinking.
And it's already happening. A recent <a href="https://www.pwc.com/gx/en/issues/artificial-intelligence/ai-jobs-barometer.html">PwC</a> survey found that 84% of CEOs who have adopted AI say it's improving employee efficiency. Plus, 70% expect AI to significantly transform business operations within the next three years.
Despite these benefits, the fear of job loss looms large. But data suggests that AI isn't a job killer—it's a job shifter. According to the <a href="https://www.bls.gov/careeroutlook/2025/article/fastest-growing-industry-sector.htm">U.S. Bureau of Labor Statistics</a>, employment in professional, scientific, and technical services is projected to grow by 10.5% from 2023 to 2033, outpacing the national average. While AI might automate routine tasks, it's also creating new opportunities for people with strong digital skills.
Trending: 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>
Nadella envisions a workplace where AI takes care of the tedious stuff, freeing up workers for more meaningful work. "Let an AI agent triage my email," he said, "but after having triaged my email, give me a higher-level cognitive labor task."&nbsp;
His vision lines up with a <a href="https://www.microsoft.com/en-us/worklab/work-trend-index/ai-at-work-is-here-now-comes-the-hard-part">Microsoft</a> research, which found that 75% of global knowledge workers are already using AI, with nearly half adopting it in just the past six months.
One sector already making this shift is banking. <a href="https://www.wsj.com/tech/ai/jpmorgan-chase-artificial-intelligence-banking-939b1b32">The Wall Street Journal</a> recently reported that JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) is using AI to streamline client briefings and automate legal documentation. Teresa Heitsenrether, the bank's chief data and analytics officer, emphasized that AI is boosting productivity rather than replacing employees.
Still, Nadella stresses that AI isn't a magic solution. While it can handle repetitive tasks, human workers are still needed to guide and refine its output. The <a href="https://www.thetimes.com/business-money/entrepreneurs/article/it-is-not-replacing-people-it-is-supercharging-people-enterprise-network-3j3r6mggq">Times</a> of London reported that this balance—where AI supports rather than replaces<a href="https://www.benzinga.com/startups/25/02/43681931/googles-ai-ambitions-spark-cost-cuts-over-25000-employees-offered-buyouts-as-company-focuses-on-speed-and-efficiency"> employees</a>—ensures that businesses can maximize productivity without sidelining human expertise.
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MSFT

Satya Nadella Says AI Agents Will Replace 'Knowledge Work'—But There's One Role Humans Will Always Need To Play

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) towering $1.5 trillion market cap has long outpaced its rivals, yet its decentralized finance (DeFi) utility has lagged due to slow infrastructure development and regulatory hurdles, according to Ryan Chow, co-founder of Solv Protocol
Speaking from his vantage point at Solv (SOLV), a platform bridging Bitcoin to DeFi with $160 million in trading volume, Chow pinpointed the four-year maturation of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based DeFi and a recent regulatory thaw as key factors now unlocking Bitcoin's potential. 
His insights highlight an industry poised for a Bitcoin-driven shift, fueled by lending and staking applications.
In an interview with Benzinga on the sidelines of Eth Denver, Chow traced Bitcoin's delayed DeFi ascent to foundational challenges. 
"The potential… we start to unlock Bitcoin's potential is from like 2024," he said, noting that "DeFi needs some time to develop… after the past four years, most of the DeFi infrastructure [was] built on Ethereum and some other EVM-compatible chains and also Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)." 
Unlike Ethereum, which boasts mature smart contract capabilities, Bitcoin's mainnet lacks this functionality, stunting its DeFi integration. 
Solv addresses this by wrapping Bitcoin—via centralized solutions like Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Binance—onto EVM chains, where smart contracts enable transparent financial services like lending and staking.
Regulatory evolution has also played a pivotal role. 
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Chow linked Bitcoin's DeFi awakening to the U.S. administration's pro-crypto signals under President Trump, elected months prior. 
"After Trump really kind of as a president… the U.S. administration [gave] a lot of positive kind of signal, more and more people in this cycle… really care about Bitcoin," he said. 
This shift, coupled with nations recognizing Bitcoin as a reserve asset, has redirected focus from altcoins and meme coins to Bitcoin's financial utility. 
Solv capitalizes on this, offering SolvBTC for users to stake and earn yields up to 10%, a trend Chow sees accelerating as Bitcoin holders prioritize liquidity over selling.
The practical implications are clear in lending, which Chow flagged as a cornerstone use case. 
With Bitcoin increasingly viewed as a reserve akin to gold—bolstered by potential U.S. Bitcoin reserve policies—users are loath to part with it. 
Instead, they borrow against it, using DeFi platforms like Solv to access liquidity in seconds, permissionlessly. 
This contrasts with traditional finance's custodial delays, though Chow acknowledged trade-offs: centralized options like Fidelity's FBTC offer security, while DeFi prioritizes accessibility. 
Outside the U.S., where access to Bitcoin services is limited, DeFi's role grows, with Solv building an on-chain Bitcoin reserve to serve global users trustlessly.
Chow's perspective reflects a maturing DeFi ecosystem, where Bitcoin's integration hinges on technical bridges and regulatory tailwinds—finally aligning its market dominance with practical utility.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44056857/stablecoins-are-future-of-commerce-says-bases-tom-vieira">Stablecoins Are Future Of Commerce, Says Base&#8217;s Tom Vieira</a>

$ETH

$SOL

COIN

Why Bitcoin's DeFi Boom Took Years: Solv Protocol's Ryan Chow Spills The Details

Hedge fund manager Bill Ackman has expressed optimism about the future of Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) following the <a href="https://www.benzinga.com/news/earnings/25/02/43903538/buffetts-key-lessons-in-berkshire-annual-letter-really-outstanding-businesses-are-very-seldom-offered-in-their-entirety">Warren Buffett</a> era.
What Happened:&nbsp;Ackman, the head of Pershing Square Capital Management, criticized Buffett&#8217;s investment approach, deeming it excessively cautious. He voiced his belief that the conglomerate would fare better under the stewardship of Buffett&#8217;s intended successor, Greg Abel.
Ackman pointed to the Burlington Northern Railroad, a Berkshire subsidiary, as an example of inefficiency. He argued that it was the least efficiently managed among all railroads years ago. Ackman anticipates Abel to take a more proactive role in improving the company&#8217;s businesses.
"Now you're going to have more of an operator in charge of Berkshire and I think there's a lot of value that can be created at Berkshire with better operations," he <a href="https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/podcasts/billackman">said</a> during a podcast last week. 
The hedge fund manager also took issue with Buffett&#8217;s investment strategy, sharing his failed attempts to convince him to make several profitable investments in the past. He attributed these missed opportunities to Buffett&#8217;s unwillingness to alter his investment approach.
Also Read: <a href="https://www.benzinga.com/news/earnings/25/02/43901149/buffett-reflects-on-60-years-at-berkshire-helm-cardinal-sin-is-delaying-the-correction-of-mistakes">Buffett Reflects on 60 Years at Berkshire Helm: &#8216;Cardinal Sin Is Delaying the Correction of Mistakes&#8217;</a>
&#8220;When Abel takes the helm at Berkshire, he'll likely use a hands-on approach to improve the firm's businesses. I think the next generation of leadership will be a little more disciplined about making sure the right people run the companies," he said.
Despite his criticisms, Ackman expressed respect for Buffett and his aspiration to exceed the renowned investor&#8217;s record. 
He also disclosed his intentions to establish a &#8220;modern-day version&#8221; of Berkshire Hathaway, with real estate firm Howard Hughes serving as the base.
"Warren sort of has this price discipline where if it trades for more than 10 times operating income, no matter how good the business, he won't buy it, and that's worked really well for him for 60, 70 years, so why should he change?" Ackman added.
Why It Matters:&nbsp;This development comes as a significant shift in the narrative surrounding Berkshire Hathaway&#8217;s future. Ackman&#8217;s confidence in the company&#8217;s potential under new leadership could have implications for investor sentiment and the company&#8217;s strategic direction. 
His plans to create a new version of Berkshire Hathaway also underscore the enduring influence of Buffett&#8217;s investment model, even as he criticizes its conservative nature. 
The future of Berkshire Hathaway post-Buffett is a topic of much speculation, and Ackman&#8217;s views add a new dimension to this ongoing discussion.
Read Next
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Bill Ackman Predicts Strong Future for Berkshire Hathaway After Warren Buffett Steps Down

The Trump administration has pushed back against a lawsuit filed by New York City Mayor Eric Adams over the reversal of an $80 million payment intended to reimburse the city for service <a href="https://www.benzinga.com/markets/equities/25/01/43074547/mayor-eric-adams-meets-donald-trump-before-inauguration-focus-on-nyc-priorities-and-federal-help" target="_blank" rel="noreferrer noopener">related to non-citizen immigrants</a>.
The funds, which had been approved by Congress, were to cover costs incurred by the city for housing and services for migrants.
However, the White House argued that the funds were pulled because they might have been used to indirectly support a violent Venezuelan gang, Tren De Aragua, operating out of a migrant shelter at the Roosevelt Hotel, POLITICO reports, citing a filing.
Earlier this month, the city&#8217;s Law Department criticized Trump for conducting an &#8220;unlawful money grab&#8221; that seized Federal Emergency Management Agency payments without advance notice,&nbsp;New York Post <a target="_blank" href="https://nypost.com/2025/02/21/us-news/adams-sues-trump-admin-over-clawback-of-80m-migrant-shelter-funds-from-nyc/" rel="noreferrer noopener">reported</a>, citing a suit&nbsp;filed in the US District Court in the Southern District of New York.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/25/03/44065643/will-musks-cuts-spark-a-government-shutdown-tensions-rise-ahead-of-march-14-deadline" rel="noreferrer noopener">Will Musk&#8217;s Cuts Spark a Government Shutdown? Tensions Rise Ahead of March 14 Deadline</a>
In its legal response, the Trump administration argued that FEMA acted within its rights by pausing the funds while investigating potential ties between the gang and the migrant housing.
Federal attorneys contended that if the city housing for immigrants was being used for illegal activities, such as facilitating gang operations, the government was justified in suspending funding until the issue was resolved.
The city&#8217;s Law Department argued that the move had caused significant harm to New York City, which has already spent billions of dollars in response to the ongoing migrant crisis.
The Adams administration is seeking the return of the $80 million and a court order preventing the federal government from pulling similar payments in the future.
The situation is notable as it marks a rare instance of Adams openly challenging the Trump administration.
The mayor had previously worked to build rapport with Trump, including a reported quid pro quo arrangement related to the dismissal of a federal criminal case involving Adams, POLITICO adds.
The lawsuit remains ongoing, with both sides awaiting further legal developments.
Read Next:
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<li><a href="https://www.benzinga.com/personal-finance/25/03/44065449/is-warren-buffett-becoming-a-beer-baron-berkshire-hathaway-invests-1-2-billion-in-beer-conglomerate-that-imports-modelo-and-corona" target="_blank" rel="noreferrer noopener">Is Warren Buffett Becoming A Beer Baron? Berkshire Hathaway Invests $1.2 Billion In Beer Conglomerate That Imports Modelo and Corona</a></li>
</ul>

Trump Strikes Back at NYC's Adams Over Missing $80 Million, Says Funds Were Pulled To Stop Activity of Venezuelan Gang

Mark Cuban doesn't follow conventional investment advice. The billionaire <a href="https://www.benzinga.com/top-stories/24/06/39241650/heres-how-mark-cuban-made-91-of-his-employees-millionaires">made his fortune</a> selling Broadcast.com to Yahoo for $5.7 billion in 1999, but when it comes to managing money, his approach tends to go against the grain. Instead of pushing stocks or high-risk ventures, Cuban's advice for everyday investors is about debt, savings, and buying in bulk.
In a <a href="https://www.forbes.com/2010/11/03/billionare-mark-cuban-entrepreneur-dallas-mavericks-secrets-self-made-10.html">2010 Forbes interview</a>, he was asked a straightforward question: "You have $100,000—where do you put it?"
His first priority? Clearing debt. "First, I pay off all my credit card debt and evaluate paying off any other debt I have," Cuban said. With whatever's left, he keeps it simple. "I put it in the bank."
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<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
<li><a href="https://www.benzinga.com/money/millionaires-never-earned-six-figures-according-to-dave-ramsey">69% of Millionaires Never Earned A Six-Figure Salary – Here Are 2 Things They Do To Get Their First $1 Million, According To Dave Ramsey</a></li>
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But his strategy doesn't stop there. Cuban looks for the best guaranteed return on investment—and it's <a href="https://www.benzinga.com/personal-finance/25/02/43813554/mark-cuban-said-the-stock-market-is-for-suckers-calling-buy-and-hold-the-second-most-misleading-slogan-ever-right-after-rinse-and-repeat">not in the stock market</a>.
"I try to create as much transactional value as possible from that cash," he explained. That means taking a hard look at his budget and finding ways to lock in savings on essentials.
"Saving 30% to 50% buying in bulk—replenishable items from toothpaste to soup, or whatever I use a lot of—is the best guaranteed return on investment you can get anywhere."
Instead of gambling on stocks or hunting for the next big thing, Cuban believes <a href="https://www.benzinga.com/personal-finance/25/02/43885487/billionaire-mark-cuban-said-the-first-step-to-getting-rich-is-giving-things-up-drink-water-eat-mac-and-cheese-and-save-every-penny">smart spending is a better investment</a>. He isn't worried about making quick returns—he's focused on maximizing what he already has.
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>
And when all of that is done? Cuban still doesn't rush to invest.
"Whatever I have left I keep in the bank and let it earn nothing," he admitted. That might sound counterintuitive, but he has a reason. "Why? Because then it's available for when I get a good opportunity."
Cuban knows that every few years, the economy shifts. "Every five years or so there is a bubble bursting or amazing deals available because of a change in the economy." Holding onto cash, rather than locking it into unpredictable investments, puts him in a position to buy when prices drop.
He's always been vocal about his skepticism of the stock market, even referring to it as a <a href="https://www.benzinga.com/news/25/02/43855186/mark-cuban-once-called-the-stock-market-a-ponzi-scheme-by-definition-youre-going-to-get-your-a-kicked-unless-you-do-your-research">Ponzi scheme</a> on his blog. Cuban doesn't believe in chasing short-term market gains. Instead, he bets on cash.
"Anyone who just kept their cash in the bank rather than in stocks over the past five to 10 years could be buying the home of their dreams for half price in most of the country," he said.&nbsp;
See Also: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
And for Cuban, there's another perk to holding onto cash. "They sleep great at night. Cash is king—and works far better than Ambien when you want a good night's sleep every night," he said.&nbsp;
Cuban's strategy might sound simple, but it's built on real financial security.
<ol>
<li>Get rid of debt first. Carrying high-interest credit card balances cancels out any potential investment gains.</li>
<li>Look for guaranteed savings. Stocking up on essentials at a discount creates instant ROI.</li>
<li>Cash is an investment, too. It might not earn interest, but having money ready means seizing opportunities when the market crashes.</li>
</ol>
While many financial advisors push high-risk strategies, Cuban sticks to what he knows works. Sometimes, the best investment isn't about making money—it's about <a href="https://www.benzinga.com/money/are-you-rich">keeping more of what you already have</a>.
Read Next:
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<li>The average 401(k) balance soars to a record-breaking high – <a href="https://www.benzinga.com/money/average-401k-balances-soars-to-record-high">Here's how to know if your nest egg is keeping pace.</a></li>
<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
</ul>

Mark Cuban Was Asked How He'd Invest $100K — His Answer? Buy Bulk Toothpaste And Soup For The 'Best Guaranteed Return On Investment'

A crypto trader has reportedly suffered a staggering loss of $15.68 million after trading the official memecoin of <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43216735/heres-how-this-trader-nets-6208-profit-in-just-four-days-with-melania-meme-coin">First Lady Melania Trump</a>.
What Happened: The blockchain tracking firm Lookonchain disclosed that the trader purchased nearly 14 million MELANIA (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MELANIA</a>) last month for approximately $30 million, only to sell off all his holdings this week at a loss of $15.68 million.
Another trader also suffered a loss of&nbsp;$3.73 million on his MELANIA&nbsp;trade this week, according to Lookonchain&#8217;s report.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whales sold all their $MELANIA holdings at a loss recently! DNTpoX&#8230;LN2A spent 30M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 13.97M $MELANIA a month ago, and sold for 14.32M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> yesterday, losing $15.68M. Gu2bnm&#8230;xmni spent 10M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 6.69M $MELANIA 22 days ago, and sold 6.27M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> in the past 2… <a href="https://t.co/jAK6t6rJhy">pic.twitter.com/jAK6t6rJhy</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1894660982913601660?ref_src=twsrc%5Etfw">February 26, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The MELANIA memecoin is currently trading for $0.85, down 93.5% from its all-time high of $13.05, which it hit on January 20th, a day after launching.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43579082/think-tank-calls-for-doj-probe-into-trump-meme-coin-over-possible-anti-bribery-violations">Think Tank Calls for DOJ Probe Into TRUMP Meme Coin Over Possible Anti-Bribery Violations</a>
Lookonchain also reported that a trader&nbsp;liquidated his position in the&nbsp;TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) Memecoin&nbsp;this week at a loss&nbsp;of $24.4 million. The TRUMP Memecoin, launched by President Donald Trump&nbsp;just days before his inauguration,&nbsp;is now trading at $12.60, down 83% from its all-time high price of $73.43.
Why It Matters: This massive loss for traders comes amidst a proposed legislation by freshman Rep. Sam Liccardo (D-Calif.). Liccardo is proposing the Modern Emoluments and Malfeasance Enforcement (MEME) Act, aimed at preventing lawmakers from profiting off meme assets.
This proposed act appears to be targeted&nbsp;at Trump, who has profited&nbsp;off TRUMP despite the meme&nbsp;asset having lost billions in&nbsp;value after launching earlier this&nbsp;year.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076714/scaramucci-criticizes-donald-trumps-meme-coin-launch-idi-amin-level-corruption" target="_blank" rel="noreferrer noopener">Scaramucci Criticizes Donald Trump's Meme Coin Launch: ‘Idi Amin-Level Corruption'</a>

$MELANIA

$TRUMP

Massive Losses For Crypto Traders As MELANIA Memecoin Plummets

The cryptocurrency market cap has seen a significant reduction of $1 trillion since December 2024. This massive sell-off was instigated by President Donald Trump&#8216;s proposed tariffs, causing Bitcoin&#8217;s price to plunge drastically.
What Happened: The world&#8217;s largest cryptocurrency, Bitcoin, fell below $80,000, a 28% drop from its record high of $109,241 in January. Ethereum, the second-largest cryptocurrency, also experienced a sell-off, reaching its lowest price since January 2024.
President Trump, who had labeled himself the &#8220;crypto president&#8221; during his campaign, announced plans to impose&nbsp;25% tariffs on Mexico and&nbsp;Canada, starting Tuesday. This announcement led to a shift in investor focus from the risky assets to the potential impact of the proposed levies.
Agne Linge, WeFi&#8217;s head of&nbsp;growth, noted that while there are&nbsp;signs of change in crypto&nbsp;enforcement policies, the regional tariff&nbsp;wars and bleak consumer readings&nbsp;have dampened investor sentiments. &#8220;Institutional investors appear to be&nbsp;offloading significant Bitcoin holdings, signaling&nbsp;a potential shift in market&nbsp;sentiment,&#8221; she <a href="https://www.businessinsider.com/bitcoin-price-crypto-market-cap-donald-trump-tariff-inflation-outlook-risk-2025-2">told </a>the Insider.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">EXCLUSIVE: Eric Trump Declares Bitcoin The Future, Details Tax-Free Crypto Goals For Trump Presidency</a>
Despite significant regulatory wins and new leadership at the Securities and Exchange Commission advancing less regulation, a key part of Trump&#8217;s agenda, the sector faces macro uncertainty. &#8220;These are risk assets, and they respond meaningfully to uncertainty,&#8221; said CoinFund President Chris Perkins.
Standard Chartered suggested that Bitcoin&nbsp;could continue its slide through&nbsp;the weekend, given a lack&nbsp;of positive catalysts ahead. Options&nbsp;traders this week had been&nbsp;positioning for Bitcoin to drop&nbsp;to as low as $70,000.
Why It Matters: The recent developments underline the volatility of the crypto market and the significant influence of geopolitical events on investor sentiment. 
The proposed tariffs and the ensuing uncertainty have led to a shift in focus from risky assets, causing a significant sell-off in the crypto market.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43579082/think-tank-calls-for-doj-probe-into-trump-meme-coin-over-possible-anti-bribery-violations">Think Tank Calls for DOJ Probe Into TRUMP Meme Coin Over Possible Anti-Bribery Violations</a>
Image: Shutterstock

Trump's Tariffs Blamed for $1 Trillion Crypto Market Crash — Is 'Crypto President' Era Over Already?

Former New York Gov. Andrew Cuomo (D) announced Saturday that he will <a href="https://www.benzinga.com/politics/25/01/42991402/bill-ackman-backs-former-hedge-funder-whitney-tilson-for-nyc-mayor">run for mayor of New York</a>, shaking up the crowded race.
What Happened: The New York Post <a href="https://nypost.com/2025/03/01/us-news/former-governor-andrew-cuomo-enters-race-for-nyc-mayor/">reports</a> that Cuomo has thrown his hat into the ring. Cuomo, who resigned as governor in 2021 amidst sexual harassment allegations, has been discreetly amassing support and capitalizing on the scandals that have <a href="https://www.benzinga.com/markets/equities/25/02/43757082/chaos-at-justice-department-as-trump-backed-officials-push-to-drop-corruption-case-against-nyc-mayor-adams">marred incumbent Mayor Eric Adams&#8216; first term</a>.
In his announcement video, Cuomo criticized Adams&#8217; handling of city issues, blaming them on &#8220;the lack of intelligent action by many of our political leaders.&#8221; He also admitted to his past mistakes during his tenure in public service, expressing his belief that he has learned and grown from them.
Despite his own controversies, Cuomo&#8217;s entry into the race has been expected, particularly as Adams&#8217; popularity has taken a hit following a corruption indictment and a series of scandals. Cuomo is currently leading in early polls, benefiting from his name recognition. However, he will need to defend himself against rivals who are likely to attack him over the sexual harassment claims and his handling of the COVID pandemic.
An Emerson College poll last month showed Cuomo leading the primary field with 33%, followed by Adams at 10%, and former city Comptroller Scott Stringer 8%, with six other declared or possible candidates splitting the rest.
The primary will be held on June 24, with the winner expected to be the favorite over likely Republican nominee Curtis Sliwa in the general election in November.
Why It Matters: Cuomo&#8217;s entry into the mayoral race could significantly alter the dynamics of the election. His name recognition and political experience could pose a serious threat to incumbent Mayor Adams, whose term has been marked by scandal.
However, Cuomo&#8217;s own past controversies could also be a major factor in the race, as rivals are likely to use these issues to attack his candidacy. The outcome of the primary could have significant implications for the political future of New York City.
Image: Shutterstock

Andrew Cuomo Declares Candidacy For NYC Mayor

In a speech at the University of Georgia, billionaire&nbsp;Warren Buffett&nbsp;once gave a piece of unconventional career advice. He compared the strategy of building a perfect resume to &#8220;saving up sex <a href="https://www.benzinga.com/news/25/02/43423897/buffett-advises-against-using-credit-cards-as-a-source-of-funds-paying-it-off-is-gonna-be-way-better-than-any-investment-idea">for your&nbsp;old age.&#8221;</a>
What Happened: Over two decades ago, Buffett responded to a student&#8217;s query about their post-graduation employment. He discouraged the idea of accepting jobs solely for their resume value or slightly higher starting pay. Instead, he recommended finding work with a person or organization one admires.
According <a href="https://www.inc.com/marcel-schwantes/warren-buffett-once-compared-this-career-strategy-to-saving-sex-for-old-age-heres-why-its-brilliant-advice.html">to</a> Inc.com, Buffett shared a story about an Ivy League graduate who chose to work for a major management consulting firm, focusing on enhancing his resume rather than following his true passion, hoping to pursue his ideal career later.
Buffett told the students that he asked the Ivy Leaguer, "Is that what you want to do?" And the Ivy Leaguer replied, "No, that's the perfect resume." Buffett replied, "When are you going to start doing what you like?" to which the Ivy Leaguer said, "Well, I'll get to that someday." 
According to Buffett, this approach was similar to &#8220;saving up sex for your&nbsp;old age,&#8221; a metaphor highlighting the mistake of delaying what one truly wants.
Also Read: <a href="https://www.benzinga.com/markets/25/02/43769996/what-does-warren-buffett-know-that-we-dont-investors-are-paying-attention">What Does Warren Buffett Know That We Don&#8217;t? Investors Are Paying Attention</a>
"Well. you know,&nbsp;your plan sounds to me a lot like saving up sex for your old age. It just doesn't make a lot of sense," he told the students. 
Buffett&#8217;s advice is still pertinent today for professionals who are unhappy in their jobs, believing these roles will eventually lead to their dream job. He proposes two steps to attain career satisfaction: work for someone you admire and find work that you love.
Why It Matters: Buffett&#8217;s advice underscores the importance of passion and admiration in one&#8217;s career. It challenges the conventional wisdom of prioritizing resume-building over personal fulfillment. This perspective is particularly relevant in today&#8217;s job market, where job satisfaction and personal fulfillment are increasingly valued.
Buffett&#8217;s metaphor serves as a reminder that delaying gratification in one&#8217;s career can lead to dissatisfaction and regret. 
His advice encourages individuals to pursue their passions and work for individuals or institutions they admire, rather than settling for jobs they don&#8217;t enjoy for the sake of a resume.
Read Next
<a href="https://www.benzinga.com/markets/25/01/42803589/warren-buffetts-advice-for-overpriced-stocks-zip-up-your-wallet-take-a-vacation-and-come-back-in-a-few-years-to-buy-stocks-at-cheap-prices" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;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&#8217;</a>

Warren Buffett's Unconventional Career Advice: 'Don't Save Your Passion For Later, It's Like Saving Up Sex For Your Old Age'

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