Forbes Topline

Bessent Unveils New $1 Gold Coin Featuring Trump’s Face

Wed, 22 Jul 2026 20:30:00 -0000

Treasury Secretary Scott Bessent on Wednesday unveiled the first images of a $1 gold coin featuring President Donald Trump’s face, weeks after he revealed a new $250 bill with the president’s face, despite U.S. law prohibiting living people from appearing on currency. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/07/15/bessent-unveils-new-1-gold-coin-featuring-trumps-face/

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Canadian Tourism To U.S. Nudged Up In June—But Remains Down 29% Since 2024

Tue, 21 Jul 2026 20:30:00 -0000

The number of Canadian visitors to the U.S. nudged upward in June compared to a year ago—but visitation remains significantly down compared to 2024. Read the full story on Forbes: https://www.forbes.com/sites/suzannerowankelleher/2026/07/14/canadian-visitors-to-us-up-june-but-down-since-2024/

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Alphabet Rally Boosts Google Cofounder Fortunes By $15 Billion—Here’s Why Shares Are Up

Mon, 20 Jul 2026 20:30:00 -0000

Alphabet shares jumped on Monday following a report that the Google parent is planning to deploy a new chip to run its Gemini models more efficiently, adding a combined $15 billion to the net worths of cofounders Larry Page and Sergey Brin. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/07/20/alphabet-rally-boosts-google-cofounder-fortunes-by-15-billion-heres-why-shares-are-up/

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Trump’s Teleprompter Operator Suspended For Allegedly Betting On His Speeches

Sun, 19 Jul 2026 20:30:00 -0000

President Donald Trump’s longtime teleprompter operator is on unpaid leave amid a federal investigation after allegedly using insider information to bet on what the president would say in his speeches, the White House said Thursday.

Federal investigators with the Commodity Futures Trading Commission reportedly believe Gabriel Perez, the operator who has worked for Trump since 2016, made money betting on Trump’s State of the Union address and more than a dozen other Trump speeches, according to ABC News, citing unnamed sources.

Perez is on unpaid leave, White House press secretary Karoline Leavitt said Thursday shortly after the ABC story broke, and is reportedly in talks to settle the allegations he has earned more than $100,000 trading on the president’s speeches, which emerged when the trading market, Kalshi, alerted the CFTC of suspicious activity on its site.

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Argentina-Spain World Cup Final Is The Most Expensive U.S. Sporting Event Ever

Sat, 18 Jul 2026 20:30:00 -0000

The World Cup final will be the most expensive sporting event ever hosted in the U.S. in terms of ticket prices on resale markets, according to data from secondary ticket marketplace TickPick, which said the average ticket price for the matchup between Argentina and Spain has topped other events like the Super Bowl and NBA Finals. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/07/15/argentina-spain-world-cup-final-is-most-expensive-us-sporting-event-ever/

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Elon Musk’s Net Worth Drops Below $800 Billion After Starship Launch Aborted

Fri, 17 Jul 2026 20:30:00 -0000

A setback in Starship’s latest launch attempt lowered SpaceX shares to another all-time low on Friday, extending a losing streak for the stock and lowering Elon Musk’s net worth by more than $45 billion, after Wall Street appeared optimistic about the firm’s launch capabilities. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/07/17/elon-musks-net-worth-drops-below-800-billion-after-starship-launch-aborted/

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Warren Buffett Drops Gates Foundation From Nearly $6B In Donations—First Time In 20 Years

Thu, 16 Jul 2026 20:30:00 -0000

Warren Buffett excluded the Gates Foundation from his midyear donations for the first time since 2006, opting instead to donate thousands of Berkshire Hathaway shares worth almost $6 billion to four foundations run by his children. Read the full story on Forbes: https://www.forbes.com/sites/zacharyfolk/2026/07/14/warren-buffett-excludes-gates-foundation-from-midyear-donations/

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Taco Bell Investigated In Multistate Cyclosporiasis Outbreak, Report Says

Wed, 15 Jul 2026 20:30:00 -0000

Public health officials are reportedly investigating whether lettuce served at Taco Bell restaurants played a role in an outbreak of cyclosporiasis, a gastrointestinal illness that has sickened thousands across the country, as some locations have pulled ingredients as a precaution.

Citing two unnamed sources, the Washington Post reported federal and state health officials are looking into the fast food chain after Detroit-area Taco Bell restaurants posted signs they were “currently unable to sell Lettuce, Cilantro Onion, Pico de Gallo, and Guacamole due to a nationwide recall.”

Taco Bell told Bloomberg it has “temporarily and voluntarily” removed unspecified ingredients at select restaurants as officials review the causes of the outbreak, noting it would “continue to closely monitor the situation and follow the guidance of public health authorities.”

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Elon Musk’s Fortune Falls Below $900 Billion As SpaceX Slide Worsens

Tue, 14 Jul 2026 20:30:00 -0000

Elon Musk’s net worth dipped below $900 billion on Monday as shares in his SpaceX slid toward their initial public offering price, even as analysts remain overwhelmingly bullish on the rocket maker. Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2026/07/13/elon-musks-fortune-falls-below-900-billion-as-spacex-slide-worsens/

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Trump-Promoted ‘Freedom Fuel’ Discounted Gas Station Launches In Philadelphia Area

Mon, 13 Jul 2026 20:30:00 -0000

The White House announced the first location of the “Freedom Fuel Network”—a private company running 25 gas stations in New Jersey and Pennsylvania—though scant details about the initiative have raised questions about who is behind the company and how they are offering lower prices than the state average. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/07/08/trump-promoted-freedom-fuel-discounted-gas-station-launches-in-philadelphia-area/

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Jeff Bezos’ Blue Origin Valued At $130 Billion After First Fundraising Round

Sun, 12 Jul 2026 20:30:00 -0000

Blue Origin raised outside capital in its first-ever funding round, valuing the company at $130 billion, according to multiple reports on Wednesday, as Jeff Bezos’ rocket company seeks to challenge SpaceX.

Blue Origin raised $10 billion in the funding round, $4 billion of which comes from Coatue Management and $2 billion from Bezos himself, while the remaining $4 billion is expected from other institutional investors, the New York Times reported.

Several investors are expected to participate in the remaining $4 billion, drawing significant demand, according to CNBC, citing people familiar with the matter.

Prospective investors are interested in Blue Origin’s future projects, including TeraWave, the company’s satellite communications network that was unveiled in January, according to the Times.

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Trump's Qatari Jet Secure From 'Enemies Of America'—But Questions Remain

Sat, 11 Jul 2026 20:30:00 -0000

The White House—which briefly grounded the new Air Force One gifted by Qatar—assured Forbes the plane was safe from the "many enemies of America who have their sights on" Trump, but questions have emerged over whether it has met the necessary security upgrades. Read the full story on Forbes: https://www.forbes.com/sites/conormurray/2026/07/09/white-house-trumps-qatari-jet-secure-from-enemies-of-america-but-questions-remain/

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Danish Prime Minister Says Greenland Is ‘Not For Sale’ After Trump Renews Demands For Territory

Fri, 10 Jul 2026 20:30:00 -0000

Danish Prime Minister Mette Frederiksen said Greenland was “not for sale” and that her country was “ready to defend every inch of NATO, including our own territory,” after President Donald Trump began renewing calls for the U.S. to acquire the self-governing territory at a contentious NATO summit taking place in Turkey. Read the full story on Forbes: https://www.forbes.com/sites/zacharyfolk/2026/07/08/danish-prime-minister-says-greenland-is-not-for-sale-after-trump-renews-demands-for-territory/

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World Cup Ticket Prices Collapse For World Cup Quarterfinal Match After USA, Portugal Eliminated

Thu, 09 Jul 2026 20:30:00 -0000

Tickets for the World Cup quarterfinal matchup in the Los Angeles area swiftly dropped by more than half on resale markets following the elimination of the U.S. and Portugal on Monday, the latest ticket price reduction of the tournament ahead of the final later this month.

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Trump Again Calls For U.S. Control Over Greenland

Wed, 08 Jul 2026 20:30:00 -0000

President Donald Trump has once again brought up his call for the U.S. to control Greenland, telling reporters at the NATO summit that kicked off today that the dispute over the territory is what hurt his relationship with NATO.

Greenland is currently autonomous territory of Denmark and is self-governing but Trump has argued that the U.S. should control it because the island territory is surrounded by Russian and Chinese ships. These claims have previously been rejected by Nordic diplomats.

Trump went on to suggest that he could pull American soldiers from bases in Europe. In June, Defense Secretary Pete Hegseth announced a review of deployments in Europe, but did not confirm if it would lead to reduction in troops. In May, 4000 personnel were pulled from Poland and Germany but another 5,000 were deployed to Poland just a few weeks after.

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Coffee Price Surge Enters ‘Meme-Stock Territory’ Amid 'El Niño' Fears

Tue, 07 Jul 2026 20:30:00 -0000

Coffee and chocolate, two of the world’s most widely consumed and traded commodities, soared in value as investors appeared concerned El Niño weather patterns could disrupt harvests across Brazil and West Africa, with analysts warning that coffee has approached “meme-stock territory.”

Coffee futures jumped as much as 18.5% on Monday, hitting $3.57 per pound in the commodity’s largest intraday gain since 2000, and extending a 48% rally since June 10, before stumbling by more than 7% in early trading Tuesday.

Monday’s “historic session” pushed coffee futures into “meme-stock territory,” according to the financial services group StoneX, which said aggressive buying by institutional investors and computer-driven trading funds overwhelmed heavy selling from coffee-producing countries.

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What We Know About Billionaire Peter Thiel’s Secret 'Dialog’ Society—Including Who’s Involved

Fri, 19 Jun 2026 20:30:00 -0000

A leak of private information purportedly related to an ultra-secret society called “Dialog” founded by PayPal billionaire Peter Thiel has revealed the inner workings of an elite group to which hundreds of global leaders, business executives and billionaires belong.

The documents, examined and revealed by Wired this week, show Thiel and investor Auren Hoffman co-founded Dialog in 2006 as a private, invitation-only and “bipartisan” network of influential people in technology, politics, academia, finance, government and beyond.

Dialog describes itself as a place for off-the-record relationships among leaders from different fields and ideological backgrounds, and the group hosts at least one in-person retreat per year at at lavish locations like the Ritz-Carlton Dove Mountain in Arizona, the Ritz Carlton in Santa Barbara, California and the San Clemente Palace in Venice.

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What We Know About Potential $300 Billion For Iran In Peace Deal

Thu, 18 Jun 2026 20:30:00 -0000

Iran could have access to up to $300 billion in reconstruction funds if it adheres to a peace agreement it recently struck with the U.S., according to Vice President JD Vance and multiple reports, though official terms of the deal remain scarce as President Donald Trump has seemingly denied the payout as “fake news.”

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Fox Will Buy Roku For $22 Billion

Wed, 17 Jun 2026 20:33:00 -0000

Fox Corporation on Monday announced it reached an agreement to buy the streaming service Roku for $22 billion, expanding Fox’s streaming portfolio in a transaction the companies said would create the “third-largest player in U.S. television.”

Fox said it would acquire Roku for $160 per share in a deal the companies expect to include $400 million in savings.

Fox CEO Lachlan Murdoch, the eldest son of billionaire Rupert Murdoch, called the deal a “defining moment” for Fox that brings “together the most valuable live content portfolio and video consumption with the preeminent streaming platform through which America watches it.”

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Elon Musk Becomes The World's First Trillionaire Ever After SpaceX IPO

Fri, 12 Jun 2026 20:30:00 -0000

Elon Musk just became the first trillionaire in world history. SpaceX’s stock began trading on the Nasdaq Friday at $150 per share, implying a nearly $2 trillion market cap for the company. Forbes estimates that Musk is now worth $1.1 trillion as of just before noon eastern Friday, up from $982 billion on Thursday, when SpaceX priced its IPO at $135 share. The IPO pricing boosted Musk’s fortune by $188 billion yesterday, according to Forbes’ calculations.

Musk, who serves as chairman, CEO and chief technical officer of SpaceX, owns 4.8 billion shares of the rocketmaker, worth $715 billion. He has another 350 million stock options with an exercise price of $8.40 per share, worth $50 billion, giving him a 38% stake in the company, worth $765 billion. Before SpaceX priced its IPO on Thursday, Forbes had been valuing Musk’s estimated 40% stake (before dilution from the offering) at around $500 billion, based on the $1.25 trillion valuation of SpaceX’s merger with Musk’s artificial intelligence and social media company xAI in February. (xAI previously merged with X–formerly Twitter–in March 2025.)

Musk also owns just over 10% of $1.5 trillion (market cap) Tesla, worth $163 billion, plus options to acquire another nearly 8% stake, worth $113 billion. Rounding out his net worth are smaller stakes in his brain interface startup Neuralink and his tunneling firm Boring Company, plus several billion dollars’ of wealth from previous Tesla share sales.

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Larry Ellison’s Net Worth Plunges $10 Billion—Falls Behind Bezos To Fifth-Richest

Thu, 11 Jun 2026 20:30:00 -0000

Larry Ellison’s fortune declined by more than $10 billion on Tuesday, dropping him behind Jeff Bezos to the No. 5 spot among the wealthiest as Oracle shares stumbled amid another broad decline for tech stocks.

Shares of Oracle dropped by more than 4% as of Tuesday afternoon, extending losses of 17% over the last week, as other tech stocks headlined declines across the stock market, including Marvell (11.5%), AMD (7.2%), Micron (5.9%), Apple (3.8%) and Nvidia (2.6%).

The latest intraday slide for Oracle lowered Ellison’s net worth by $10.4 billion, valued at $249.7 billion, ranking him behind Amazon’s Bezos ($252 billion) and Google cofounders Sergey Brin ($272.7 billion) and Larry Page ($295.6 billion), according to Forbes’ Real-Time Billionaires list.

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Inflation Hit Highest Rate In 3 Years In May

Wed, 10 Jun 2026 20:30:00 -0000

Inflation rose to its highest annual rate in three years in May, as surging oil costs once again fueled broader price increases amid a persistent conflict in the Middle East, according to federal data released Wednesday.

Consumer prices increased 4.2% from May 2025 and 0.5% between April and May, the Bureau of Labor Statistics reported, matching consensus economist estimates, according to FactSet.

That’s the first time inflation crossed the 4% annual rate since May 2023 (4%), and it’s the highest rate since April 2023 (4.9%).

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OpenAI Has Filed Paperwork To Go Public

Tue, 09 Jun 2026 20:30:00 -0000

OpenAI has confidentially filed an S-1 form for an initial public offering, the company said in a brief statement on Monday, about one week after artificial intelligence rival Anthropic did the same as several of the largest companies in the industry prepare to go public.

In a brief statement released on Monday evening, OpenAI said it expected news of the confidential filing to leak, prompting it to announce the filing early.

The company said it hasn’t decided when the highly anticipated IPO would take place, warning that quote “it may be a while because there are things we want to do that are likely easier as a private company.”

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Elon Musk Boosts Unsubstantiated Claims About LA Mayor Election As Spencer Pratt Drops To Third

Mon, 08 Jun 2026 20:30:00 -0000

Elon Musk early on Monday boosted unsubstantiated claims questioning the results of the primary elections in California, focusing specifically on the Los Angeles Mayoral primary, as the progressive Democratic candidate Nithya Raman overtook Republican Spencer Pratt's vote count, putting her on track to join incumbent mayor Karen Bass in a runoff.

According to the Associated Press, 83% of the votes have been tallied so far in the Mayoral primary and Raman has secured 27.1% of the vote, putting her narrowly ahead of Pratt, who has 26.7%.

AP has already called the race for Bass, who is moving ahead to the runoff, where she will be joined by either Pratt or Raman.

Pratt, a former reality star whose campaign borrowed President Donald Trump’s playbook and leaned on dissatisfaction over Bass’ handling of last year’s wildfires, was leading Raman when the first tranche of votes was released last Tuesday night.

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Gautam Adani Becomes Asia’s Richest Billionaire As Net Worth Swells By $2 Billion

Fri, 05 Jun 2026 20:30:00 -0000

Gautam Adani’s fortune increased by roughly $2.5 billion on Friday as shares rallied across his Adani Group subsidiaries, making him the richest person in Asia ahead of Mukesh Ambani, who briefly held the title.

Adani’s net worth swelled to $89.2 billion, ranking him ahead of Ambani and SoftBank’s Masayoshi Son, who held the title of Asia’s richest before shares of the Japanese investment firm plunged on Thursday, according to Forbes’ Real-Time Billionaires list.

A boost to Adani’s net worth followed a broader stock surge across companies under the umbrella of his Adani Group, including Adani Power (up 1.1%), Adani Ports (1.9%), Adani Enterprises (2.3%), Adani Green Energy (6.9%) and Adani Energy Solutions (3.8%).

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Larry Ellison Becomes Third-Richest Man As Oracle Shares Hit Year’s High

Wed, 03 Jun 2026 20:30:00 -0000

Oracle shares hit a 2026 intraday high Monday, extending a furious late-May rally that has recast the database pioneer as a marquee AI-infrastructure player and boosted the fortune of cofounder Larry Ellison, who holds roughly 40% of the company.

Oracle traded as high as $233.72 Monday, after surging about 11% Friday to cap software's strongest month since 2001.

The company has pivoted from a mature software vendor into a major player in the AI boom, renting compute power to the largest AI developers like OpenAI.

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Knicks Finals Tickets Cost More Than Manhattan Rent, Mortgages, More

Tue, 02 Jun 2026 20:30:00 -0000

he first NBA Finals appearance in decades for the New York Knicks comes with a hefty cost for fans, who will have to pay thousands of dollars for even the cheapest seats inside Madison Square Garden—rivaling the average monthly rent for a Manhattan apartment, the average price of an engagement ring and several transatlantic flights.

The Knicks first host the San Antonio Spurs at Madison Square Garden on June 8 for Game 3, with the cheapest resale ticket priced at $4,247, before the get-in price drops slightly to $3,728 for Game 4 on June 10, according to TickPick.

If the series extends to a Game 6, the cheapest price for a ticket to the late-series game rises to a Finals high of $4,917 for Game 6, according to TickPick.

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Anthropic Confidentially Files For Its Highly Anticipated IPO

Mon, 01 Jun 2026 20:30:00 -0000

Claude maker Anthropic has confidentially filed initial paperwork with the Securities and Exchange Commission, taking a step toward a potential initial public offering that could reportedly come as early as late 2026.

The filing sets neither a share count nor a price.

The move arrives just days after the company closed a $65 billion round that valued it at $965 billion—eclipsing rival OpenAI and cementing its status as the most valuable startup in artificial intelligence.

Anthropic’s most recent round nearly tripled its valuation of $380 billion in roughly three months.

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Rich Americans Are Collecting Citizenships As ‘Plan B’ In Uncertain Times

Fri, 29 May 2026 20:30:00 -0000

Uber-rich Americans are collecting multiple residencies and citizenships for the same reason they diversify their stock portfolios—to hedge against risk in an unpredictable world, investment migration experts tell Forbes.

The U.S. has replaced China as the largest market for clients seeking secondary or tertiary citizenships, Eric Major, CEO and chairman of the investment migration advisory firm Latitude World, told Forbes.

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Memory Chip Maker Micron Joins The Trillion-Dollar Club

Thu, 28 May 2026 20:30:00 -0000

UBS analysts raised their price target more than threefold to $1,625, implying a potential valuation of close to $1.8 trillion for the company in the next 12 months.

The upgrade was the highest target of any of the 46 Wall Street firms covering Micron, well above the consensus price target of $684.32, per FactSet data

Micron is up 177% this year and has surged more than 800% over the past 12 months, making it one of the best-performing stocks in the S&P 500 this year.

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Ferrari’s First EV Divides The Internet: Here’s Why Sports Car Fans Hate The Luce

Wed, 27 May 2026 20:30:00 -0000

The unveiling of a new electric supercar from Ferrari sharply divided the internet Tuesday morning as traditionalists decried the design as “an Apple product on wheels” and supporters praised the luxury brand’s bold attempt at a reinvention.

Ferrari's unveiling of the Luce—a $640,000 speedster and its first ever electric model—sent shares down around 6% Tuesday morning as the brand’s fans slammed the new model as an abandonment of its identity, specifically noting its aggressive styling.

The car was designed in collaboration with former Apple designer Jony Ive and his business partner Marc Newson, who are credited with designing the Apple Watch, and the pair brought a distinctive Silicon Valley style to the Luce.

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U.S. Will Invest $2 Billion In Quantum Computing Firms And Take Equity

Fri, 22 May 2026 20:30:00 -0000

The U.S. will invest $2 billion in grant funding in return for equity stakes in nine quantum computing companies, the Wall Street Journal first reported citing the Commerce Department, including a $1 billion grant for IBM as the Trump administration’s push to take equity stakes in tech and industrial manufacturers continues.

Legacy tech firm IBM is expected to receive the largest grant, worth about $1 billion, which it will use alongside $1 billion of its own funds to build a quantum chip foundry to build the specialized semiconductors necessary to power quantum computers in the U.S., the company announced in a separate press release on Thursday.

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Elon Musk’s SpaceX Files For Highly Anticipated IPO

Thu, 21 May 2026 20:30:00 -0000

Elon Musk’s SpaceX confirmed in a Wednesday filing with the Securities and Exchange Commission it will take the company public, a multi-trillion-dollar move that could potentially turn Musk into the world’s first trillionaire.

Spacex’s IPO valuation could reach between $1.75 trillion and $2 trillion, according to multiple reports, which would best the previous all-time IPO valuation record of $1.7 trillion set by Saudi Aramco in 2019.

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SpaceX Could Face ‘Musk Effect’ With Major Risks After IPO

Wed, 20 May 2026 20:30:00 -0000

Details of SpaceX’s IPO are expected to be made public this week as it accelerates plans for a stock debut that will likely make CEO Elon Musk the world’s first trillionaire, but one analyst warned that trading may be volatile as the stock faces “substantial” downside risks.

SpaceX, which filed confidential initial public offering registration with the Securities and Exchange Commission in April, will likely make public its paperwork—offering insight into the firm’s operations and finances—this week as it plans for a June 12 debut on the Nasdaq, the Wall Street Journal reported, citing people familiar with the matter.

Some have expressed concerns about SpaceX’s stock listing, including PitchBook analyst Franco Granda, who wrote in March that SpaceX may act like Tesla’s stock “on steroids,” suggesting trading volatility.

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Jury Dismisses Elon Musk's OpenAI Lawsuit Over Missed Deadline, But His Lawyer Promises Appeal

Tue, 19 May 2026 07:30:00 -0000

A jury declared Elon Musk filed his lawsuit against OpenAI and Sam Altman too late in a Monday afternoon verdict, finding the defendants not liable for any of the claims and ending a dramatic court showdown between two of the AI industry’s leading billionaires—at least for now, as a Musk lawyer says he plans to appeal.

Musk filed a lawsuit against Altman and OpenAI in 2024, alleging Altman reneged on an initial promise to operate the AI company as a nonprofit for the public good, making claims of unjust enrichment and breach of charitable trust.

Musk’s claims, though, were subject to three-year statutes of limitations, and the jury ruled Monday after two hours of deliberation that he had missed the deadlines to file his lawsuit.

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Trump Gets $1.8 Billion Payday With ‘Anti-Weaponization’ Fund As He Drops IRS Case

Mon, 18 May 2026 20:30:00 -0000

President Donald Trump voluntarily dropped his $10 billion lawsuit against the IRS on Monday in exchange for a $1.8 billion “anti-weaponization” fund that is expected to pay out money to Jan. 6 rioters, a broadly controversial move that’s already drawn widespread outrage from Democrats and ethics experts.

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Iran War Costs Have Increased $4 Billion—Some Estimates Say It’s Closer To $200 Billion

Fri, 15 May 2026 20:30:00 -0000

The cost of the Iran war has ballooned $4 billion since the Pentagon’s last public estimate less than two weeks ago, officials said Tuesday—though the economic costs of the war are likely significantly higher.

The war has cost around $29 billion, Defense Department Comptroller Jay Hurst told Congress Tuesday, attributing the increase to “updated repair and replacement of equipment cost and also just general operational cost.”

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From Diet Coke To AI Chips: How The Iran War Is Causing Critical Global Shortages

Thu, 14 May 2026 20:30:00 -0000

From snack packaging to AI chips, the Iran War's supply chain blockades are causing severe global shortages across consumer and industrial goods.

Calbee, Japan's biggest snack maker, on Tuesday warned its products will switch from their famously colorful packaging to black-and-white labels by the end of the month due to an Iran war-spurred shortage of an ink ingredient, the latest disruption to hit the supply chain due to the conflict in the Middle East.

The packaging change is reportedly due to a shortage of naptha, an ink ingredient derived from petroleum, of which Japan imports 40% of its consumption from the Middle East via the Strait of Hormuz shipping channel that has been closed since the U.S. and Israel attacked Iran at the end of February.

The closure of the strait has caused other shortages around the world, including in India, where a lack of the aluminum needed to make cans has led to a scarcity of Diet Coke and spurred "Diet Coke parties," where the drink is treated as limited-availability item and often sold at significant markups.

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Nvidia Hits Record $5.5 Trillion Value—First Company To Ever Reach Mark

Wed, 13 May 2026 20:30:00 -0000

Nvidia’s value reached the $5.5 trillion mark for the first time Wednesday, again breaking the record for the highest ever market capitalization in the history of publicly traded companies, as its stock rallied following news that centibillionaire CEO Jensen Huang is joining President Donald Trump’s trip to China.

Nvidia’s market cap reached just over $5.5 trillion as shares surged 3% as of early afternoon.

The rise in shares was accompanied by news that Huang was traveling with Trump to China, where the president will meet with Chinese President Xi Jinping, following earlier reports that said he was not invited.

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Trump Reportedly Invites Billionaire Delegation To China For Xi Meeting

Tue, 12 May 2026 20:30:00 -0000

President Donald Trump reportedly invited a group of billionaires—worth a combined $870 billion, according to our estimates—to join him on his trip to China this week to meet Chinese President Xi Jinping, their first summit of Trump’s second term, which comes amid tensions over trade, the war in Iran and the future of artificial intelligence.

Tesla’s Elon Musk, Blackstone’s Stephen Schwarzman, Apple’s Tim Cook, General Electric’s Larry Culp and BlackRock’s Larry Fink are among the billionaires expected to travel to Beijing with Trump, Bloomberg reported, citing an unnamed White House official.

Other high-profile CEOs joining the trip include Boeing’s Kelly Ortberg, Goldman Sachs’ David Solomon and Citigroup’s Jane Fraser, among 17 total executives from U.S. companies reportedly expected to attend the summit.

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