Biomea Fusion (NASDAQ:BMEA) Bolsa

BIOMEA FUSION INC

Biomea Fusion

Biomea Fusion Inc is a clinical-stage diabetes and obesity medicines company focused on the discovery and development of oral covalent small-molecule drugs to treat patients with metabolic diseases. The company uses its proprietary FUSION System discovery platform to develop a pipeline of novel small-molecule product candidates. Its principal clinical program's drug candidate, icovamenib, is being developed as an orally bioavailable, selective covalent inhibitor of menin in two clinical and multiple preclinical studies, investigating icovamenib's potential in type 1 and type 2 diabetes, as well as its impact in obesity. The company is also developing BMF-650, an investigational, oral small-molecule GLP-1 RA, which has the potential to be a therapeutic option for diabetes and obesity.

Gerber Kawasaki's co-founder, Ross Gerber, says that Elon Musk's Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) needs to incorporate LiDAR technology into its Robotaxis.
What Happened: Taking to social media platform X on Sunday, the investor shared his thoughts on the EV giant's FSD or Full Self-Driving technology, a crucial element in Musk's Robotaxi ambitions.
"At some point Tesla will have to accept that Lidar and radar are redundancies that are needed to make FSD driving safe enough to scale," Gerber said in the post.
Gerber called the visualizations rendered by LiDAR "way more detailed and accurate" in contrast to Tesla's current camera-based FSD technology.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At some point tesla will have to accept that Lidar and radar are redundancies that are needed to make FSD driving safe enough to scale. The visualizations are way more detailed and accurate.
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1941579290417811947?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
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Why It Matters: The comments from Gerber come in as Tesla's Robotaxi has invited scrutiny from the NHTSA over <a href="https://www.benzinga.com/markets/tech/25/06/46067027/tesla-robotaxi-faces-nhtsa-scrutiny-over-traffic-violations-during-austin-launch">possible traffic violations</a> during the limited rollout event in Austin.
Amid the launch, there is some buzz around <a href="https://www.benzinga.com/markets/tech/25/06/46048103/teslas-robotaxi-rollout-sparks-expansion-buzz-elon-musks-company-says-fsd-can-be-deployed-anywhere-after-austin-launch">Tesla possibly licensing FSD</a> technology to other automakers. "There are a number of major automakers that have talked to us about licensing self-driving and we&#8217;re very much open to that," Musk had said in an interview earlier.
Despite scrutiny, some experts, including Future Fund LLC's Gary Black, believe the <a href="https://www.benzinga.com/markets/tech/25/06/46133153/tesla-robotaxi-has-a-major-advantage-over-rivals-waymo-and-zoox-says-gary-black-could-be-very-significant">company has an advantage</a> over its rivals, including Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo, which lies in Tesla's scalability.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="199" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-1024x199.jpg" alt="" class="wp-image-973948" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-1024x199.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-768x149.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-1536x299.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025.jpg 1569w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Tesla offers satisfactory Momentum while scoring well on the Growth and Quality metrics, but the stock offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46258669/tesla-made-2-76-billion-from-zev-credits-in-2024-in-us-but-trumps-tax-bill-just-killed-this-revenue-stream">Tesla Made $2.76 Billion From ZEV Credits In 2024 In US But Trump's Tax Bill Just Killed This Revenue Stream</a></li>
</ul>
Photo courtesy: VTT Studio / Shutterstock.com

Tech

GOOG

GOOGL

TSLA

Elon Musk's Tesla Must Embrace LiDAR To Scale FSD, Says Ross Gerber

U.S. Stock futures slipped on Sunday evening, following the Fourth of July weekend, after President Donald Trump&#8217;s confirmation regarding the reciprocal tariffs that are set to go into effect on August 1, instead of July 9. 
The&nbsp;S&amp;P 500 Futures&nbsp;trade at 6,297.50, down 0.43%, followed by&nbsp;Nasdaq Futures&nbsp;at 22,956.50, down 0.46%, and finally&nbsp;Dow Jones Futures&nbsp;down 0.33%, trading at 44,944.00, at the time of writing this.
This comes amid President Donald Trump saying that he would be sending out letters to America&#8217;s trading partners, announcing that tariffs would be back to April 2 levels, if there was no progress being made on signing a trade deal with the United States by then, according <a href="https://www.cnbc.com/2025/07/06/stock-market-today-live-updates.html">to</a> a report by CNBC.
See Also: <a href="https://www.benzinga.com/news/social-media/25/07/46265991/donald-trump-announces-upcoming-talks-with-china-on-tiktok-we-pretty-much-have-a-deal">Donald Trump Announces Upcoming Talks With China On TikTok: &#8216;We Pretty Much Have A Deal&#8217;</a>
Speaking alongside Trump, Commerce Secretary Howard Lutnick said that the tariffs will go into effect on August 1, adding that &#8220;the president is setting the rates, and the deals, right now,&#8221; to which Trump nodded in approval.
Treasury Secretary Scott Bessent said the same during his appearance on CNN&#8217;s &#8220;State of the Union&#8221; earlier in the day, saying that tariffs will &#8220;boomerang&#8221; back to &#8220;Liberation Day&#8221; levels, &#8220;if things don&#8217;t move along.&#8221;
Japan&#8217;s Nikkei 225 benchmark is down 204 points or 0.51%, trading at 39,608, with engineering, electronics and export-oriented stocks leading the decline.
The U.S. Dollar Index (DXY) is up 0.10%, trading at 97.098 against a basket of currencies, recovering from its lowest levels in over three years last week, hit by <a href="https://www.benzinga.com/markets/market-summary/25/07/46190058/asia-markets-mixed-europe-slips-dollar-weakens-further-as-tariff-deadline-looms-global-markets-today-while-us-slept">growing fiscal concerns</a>, persistent trade uncertainties and expectations of faster rate cuts by the Federal Reserve. 
While there are no noteworthy data releases or economic events on Monday, investors will be closely watching Barnes &amp; Noble Education Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) third quarter results later in the day.
khunkornStudio via Shutterstock
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46263813/trump-to-send-take-it-or-leave-it-tariff-letters-to-12-countries-on-monday-report">Trump to Send &#8216;Take It Or Leave It&#8217; Tariff Letters To 12 Countries On Monday: Report</a></li>
</ul>

Government

Pre-Market Outlook

BNED

Dow Futures Slip Over 100 Points Amid Trump's August Deadline On Tariffs

President Donald Trump announced on Sunday that he will impose an additional 10% tariff on any country that aligns with BRICS&#8217; anti-American policies, escalating trade tensions as his July 9 deadline approaches for comprehensive tariff restructuring.
What Happened: Trump posted on Truth Social that &#8220;any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy.&#8221; The announcement came hours before he confirmed tariff letters would be delivered to various countries starting Monday at 12:00 p.m. Eastern.
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BRICS is an intergovernmental alliance of ten nations: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
The BRICS threat represents a significant expansion of Trump&#8217;s tariff strategy, which already includes base rates of 10% with additional levies reaching up to 70% for some nations. The president suspended most tariffs except the 10% base rate in April for 90 days of negotiations, a <a href="https://www.benzinga.com/news/politics/25/07/46263399/trump-says-us-will-raise-tariffs-to-up-to-70-as-july-9-deadline-looms">period ending July 9</a>.
See Also: <a href="https://www.benzinga.com/personal-finance/management/25/07/46264668/elon-musks-father-says-he-warned-his-son-against-going-into-politics-hes-not-a-very-good-politician-at-all">Elon Musk&#8217;s Father Says He Warned His Son Against Going Into Politics – &#8216;He&#8217;s Not a Very Good Politician At All&#8217;</a>
Why It Matters: According to Reuters, Trump has signed &#8220;take it or leave it&#8221; letters to 12 countries detailing specific tariff rates. Commerce Secretary Howard Lutnick confirmed the <a href="https://www.benzinga.com/news/politics/25/07/46263813/trump-to-send-take-it-or-leave-it-tariff-letters-to-12-countries-on-monday-report">administration plans to finalize deals</a> with ten major trading partners by the July 9 deadline, with tariffs taking effect August 1.
The BRICS announcement adds complexity to ongoing negotiations with major economies. Trump recently threatened Japan with 35% tariffs if no agreement is reached, while securing a trade deal with Vietnam, imposing 20% tariffs on Vietnamese exports and 40% on transshipped goods, <a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation">particularly targeting Chinese products</a>.
Trump&#8217;s strategy has shifted from comprehensive negotiations to bilateral letters, which he <a href="https://www.benzinga.com/news/politics/25/06/46163327/trump-starmer-trade-deal-kicks-in-uk-luxury-cars-get-10-tariff-rolls-royce-engines-fly-duty-free-into-us">considers more efficient than complex trade talks</a>. Only the United Kingdom has secured preferential treatment, with auto tariffs reduced from 27.5% to 10% and aerospace duties eliminated, benefiting companies like Rolls-Royce Holdings.
The Federal Reserve has expressed caution about interest rate cuts due to potential inflationary impacts from escalating tariffs. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/politics/25/07/46267165/tim-cook-says-heartbroken-by-devastating-loss-caused-by-texas-floods-ron-desantis-vows-to-support-lone-star-state">Tim Cook Says &#8216;Heartbroken&#8217; By Devastating Loss Caused By Texas Floods, Ron DeSantis Vows To Support Lone Star State</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Politics

Trump Threatens 10% 'Additional' Tariff On All BRICS-Aligned Nations, Says Tariff Letters Drop At Noon Monday

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is trading higher overnight Sunday after Elon Musk launched his new political party.
What Happened: The dog-themed memecoin spiked over 6% in the last 24 hours, with trading volume exploding 179% to $1.19 billion.
DOGE's open interest lifted over 8%, <a href="https://www.coinglass.com/BitcoinOpenInterest">according </a>to Coinglass, indicating high speculative interest for the cryptocurrency.&nbsp;
Additionally, large transactions valued at over $100,000 jumped 41% in the last 24 hours, while daily active addresses spiked nearly 35%, <a href="https://app.intotheblock.com/">according</a> to IntoTheBlock.
The uptick comes after the tech mogul <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">announced the formation</a> of a new political party, the "America Party&#8221; as a countermeasure to what he views as a flawed two-party system. 
The launch follows President&nbsp;Donald Trump‘s signing a significant spending bill, one that Musk has been vehemently critical of.
Musk has been a known<a href="https://www.benzinga.com/general/education/25/01/42794433/if-you-invested-1000-in-dogecoin-when-elon-musk-acquired-twitter-heres-how-much-youd-have-now" target="_blank" rel="noreferrer noopener"> supporter of the DOGE</a>&nbsp;meme coin, and even the acronym&nbsp;for Department of Government Efficiency, an entity which he created, bears an uncanny reference to the canine-themed coin.
Price Action:&nbsp; At the time of writing, DOGE was exchanging hands at $0.1740, up 6.3% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Stanslavs on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46267181/elon-musks-america-party-polymarket-users-bet-on-andrew-yang-mark-cuban-joining-new-political-front">Elon Musk&#8217;s America Party: Polymarket Users Bet On Andrew Yang, Mark Cuban Joining New Political Front </a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$DOGE

Dogecoin Shoots Up Over 6% As Elon Musk Launches America Party, Large Transactions Spike

Leading cryptocurrencies rose on Sunday while stock futures fell as the Trump administration extends tariff deadline.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 10:20 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.68%</td>
<td>$108,984.99</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.76%</td>
<td>$2,560.46</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+5.30%</td>
<td>$0.1728</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin surged to an intraday high of $109,731.63, with trading volume jumping by nearly 25% in the last 24 hours.
Ethereum, the second-largest cryptocurrency, reached a high of $2,600 but then fell back to around $2,500.
The rally wiped out $134 million in bearish short positions in the last 24 hours. More than $300 million in downside bets risked liquidation if Bitcoin made a new high.
Bitcoin&#8217;s open interest rose 2.41% in the last 24 hours to $74 billion, while Ethereum recorded a 3.90% jump in funds locked in unsettled derivatives contracts.&nbsp;
The "Greed" sentiment strengthened from 66 to 73 in the last 24 hours, according to the Crypto Fear &amp; Greed Index.
Top Gainers (24 Hours)
<figure class="wp-block-table aligncenter"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 10:20 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Floki(FLOKI)</td>
<td>+16.67%</td>
<td>$0.00008772</td>
</tr>
<tr>
<td>Bonk(BONK)&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+13.94%</td>
<td>$0.0000225</td>
</tr>
<tr>
<td>Celestia(TIA)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+9.53%</td>
<td>$1.63 </td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.36 trillion, surging 3.49% in the last 24 hours.
Stock futures inched lower overnight Sunday. The Dow Jones Industrial Average Futures fell 139 points, or 0.30%, as of 9:40 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 slid 0.43%, while Nasdaq 100 Futures lost 0.53%.
Commerce Secretary Howard Lutnick told reporters that Trump's planned tariffs will take effect on August 1, further extending the previously set July 9 deadline, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-07-06/lutnick-says-trump-s-tariffs-will-take-effect-on-august-1?srnd=homepage-americas">reported</a>.
Stocks have hit new highs lately, with the Nasdaq Composite and the S&amp;P 500 surging 5.48% and 4.65% over the past month.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: A cryptocurrency-focused X account, Oz, with a significant following, predicted Bitcoin to hit $150,000 by late August.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I love the fact <a href="https://twitter.com/search?q=%24btc&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$btc</a> will be at or over $150k by late August&#8230; And no one believes it..
&mdash; Oz (@AskCryptoWealth) <a href="https://twitter.com/AskCryptoWealth/status/1941999644256403882?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Another well-known cryptocurrency analyst, Michaël van de Poppe, anticipated a "massive" altseason, citing the altcoin season index.
"For the past 5 years, the Altcoins Season Index bottomed in the summer, primarily in June of every year. What followed? A strong second half of the year for altcoins," the analyst stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> season index is showing that we&#39;re about to fire up a massive altseason. For the past 5 years, the <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> Season Index bottomed in the Summer, primarily in June of every year. What followed? A strong second half of the year for Altcoins. Given that we&#39;re… <a href="https://t.co/gTfrkrqMGh">pic.twitter.com/gTfrkrqMGh</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1941851375572254748?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Photo: Yalcin Sonat/Shutterstock
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46262329/the-surprising-factor-behind-crypto-flash-crashes-and-its-not-trading-bots">The Surprising Factor Behind Crypto Flash Crashes—And It&#8217;s Not Trading Bots</a></li>
</ul>

$BTC

$ETH

Bitcoin, Ethereum, Dogecoin Gain As Trump Tariffs Deadline Delayed: 'Massive' Altcoin Season In The Works, Says This Analyst

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk announced a <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">new political entity</a> over the weekend, dubbed the &#8220;America Party,&#8221; which has since sparked mixed reactions among investors, analysts and loyalists. 
Check out the current price of&nbsp;<a href="https://www.benzinga.com/quote/TSLA" target="_blank" rel="noreferrer noopener">TSLA stock here.</a>
What Happened: On Sunday, in a post on X, Wedbush Securities senior analyst Dan Ives was blunt in his assessment, saying Musk's move was &#8220;exactly the opposite direction&#8221; of what most investors would have wanted him to take, during what he refers to as a &#8220;crucial period for Tesla.&#8221;
Ives says he gets why Musk is doing this, but adds that it&#8217;s just causing exhaustion for investors in the company, as the stock dropped over 6% in pre-market trade, before recovering to -0.85% at the time of writing this, in response to the announcement. 
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46188592/peter-thiel-says-elon-musk-vision-of-a-billion-humanoid-robots-in-ten-years-makes-all-the-hand-wringing-over-deficits-look-unthought-through">Peter Thiel Says Elon Musk Vision Of A Billion Humanoid Robots In Ten Years Makes All The Hand-Wringing Over Deficits Look &#8216;Unthought-Through&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that most Tesla investors want him to take during this crucial period for Tesla. We get why Musk doing this…just causing exhaustion from many investors.
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1941846634893115791?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Long-time Tesla bull and CEO Gerber Kawasaki, Ross Gerber, also voiced his frustration, saying that &#8220;Waymo has solved autonomous driving. Meanwhile, Elon is starting a new political party.&#8221; 
His remark underscores concerns that Musk's focus may be drifting from Tesla's operational priorities at a pivotal time for the company.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Waymo has solved autonomous driving. Meanwhile Elon is starting a new political party.
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1941597356157518266?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
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The Managing Partner at the Future Fund, Gary Black, however, downplayed the impact this is set to have on Tesla, saying that he disagrees &#8220;with the doomsday crowd,&#8221; and believes it is unlikely to have any significant impact on the company&#8217;s shares in the long-term, while acknowledging that &#8220;it's difficult to predict the short term impact.&#8221;
Black says that it&#8217;s &#8220;highly unlikely&#8221; for this new political venture to gain much traction, noting the historical difficulty third parties have faced in the U.S. This, he says, would lead Musk to eventually focus on something else.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I disagree with the doomsday crowd who believe Elon's formation of the America Party will hurt the Tesla brand. While it's difficult to predict the short term impact, I doubt this will impact <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> stock longer term. IMHO the America Party is highly unlikely to get much… <a href="https://t.co/Js8WCkBZla">https://t.co/Js8WCkBZla</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1941998958814851391?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Musk&#8217;s loyalists and supporters, however, continue to rally behind him, with Tesla investor and influencer Dave Lee defending the billionaire entrepreneur&#8217;s motivations in a lengthy post on X, citing several personal sacrifices that Musk has made in recent months for national interest.
&#8220;You can&#8217;t make this stuff up,&#8221; Lee says, referring to President Donald Trump&#8217;s latest tirade against Musk, where he says that the latter has gone &#8220;off the rails&#8221; and is a &#8220;trainwreck,&#8221; despite him toiling and putting in 16-plus hour workdays leading the Department of Government Efficiency, only to have <a href="https://www.benzinga.com/news/politics/25/07/46187403/elon-musk-is-unhappy-with-trumps-big-beautiful-bill-and-just-reminded-everyone-that-80-voted-for-a-new-party">his work undone</a> by the &#8220;One Big, Beautiful Bill.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I would be livid if I was Elon. Imagine you go all-in, receive tons of death threats, your companies are under fire, but you keep your head on the mission to cut costs thinking you're doing your part to save our country. You bring in the best and brightest young minds,… <a href="https://t.co/oD5zlFWXa4">https://t.co/oD5zlFWXa4</a>
&mdash; Dave Lee (@heydave7) <a href="https://twitter.com/heydave7/status/1942001391498592548?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Why It Matters: Last week, Trump asked Musk to &#8220;close up shop&#8221; in response to the <a href="https://www.benzinga.com/news/25/07/46252278/after-trump-warns-elon-musk-to-close-up-shop-china-rallies-behind-worlds-richest-man-theres-no-need">escalating feud with Musk</a>, and the latter&#8217;s growing criticism of the &#8220;Big, Beautiful Bill.&#8221;
Trump&#8217;s former personal attorney, Michael Cohen, who&#8217;s since become a vocal critic of the administration after serving a prison sentence for various charges, came out <a href="https://www.benzinga.com/news/politics/25/07/46266380/ex-trump-lawyer-sent-this-message-to-elon-musk-after-feud-with-donald-trump-erupted">in support of Musk</a> on Sunday.
Cohen asks Musk to send him a message if he wants to know &#8220;how to fight political guerrilla warfare,&#8221; while adding that he would lose otherwise, in a post on X. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">. <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> I told you this would happen. If you want to know how to fight political guerilla warfare, DM me! Otherwise, you lose. <a href="https://t.co/FN8uFS51te">https://t.co/FN8uFS51te</a>
&mdash; Michael Cohen (@MichaelCohen212) <a href="https://twitter.com/MichaelCohen212/status/1930781215076040850?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
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Price Action: Tesla shares ended Thursday down 0.10%, trading at $315.35, and are down 0.85% after hours owing to Musk&#8217;s political pivot. The shares have recovered by a 6% decline after hours just a couple of hours ago. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="146" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM-1024x146.png" alt="" class="wp-image-973879" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM-1024x146.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM-768x109.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM.png 1532w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Shares of Tesla score well on Growth and Quality, while having a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers and competitors.
Photo Courtesy: Tada Images On Shutterstock.com
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</ul>

Large Cap

Elon Musk's America Party Is A Move In The 'Opposite Direction,' Says Dan Ives, Analyst Gary Black Says Difficult To Predict Impact On Tesla Brand Short Term

Cryptocurrency bettors are strongly believing that entrepreneur and former presidential candidate Andrew Yang will join tech mogul Elon Musk's new political party.
What Happened: Yang had the highest possibility of joining Musk&#8217;s new political front before October, at 44%, <a href="https://polymarket.com/event/who-will-join-the-america-party-before-october?tid=1751848292655">according </a>to the decentralized prediction tool Polymarket.
Notably, billionaire investor and entrepreneur Mark Cuban, an outspoken critic of Musk, had a 28% probability of joining the party as of this writing.
Polymarket, based on Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>), allows users to buy "Yes" and "No" shares in USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin. The shares representing the correct outcome are paid out $1 USDC each upon market resolution.
Yang has been seen leaning toward Musk's side after he said in an X post that he would rather support a person "who enabled space rockets and electric cars" over the guy "who branded steaks."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In a feud between the guy who enabled space rockets and electric cars and the guy who branded steaks and a fake university, I'd bet on the former.
&mdash; Andrew Yang&#x1f9e2;&#x2b06;&#xFE0F;&#x1f1fa;&#x1f1f8; (@AndrewYang) <a href="https://twitter.com/AndrewYang/status/1942020226507329704?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
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Yang himself founded the <a href="https://www.benzinga.com/news/22/07/28238557/democrats-republicans-form-third-party-forward-andrew-yang">&#8220;Forward&#8221; party in 2022</a> with the support of former Republicans and Democrats, aiming to become the third alternative in American politics. He has previously questioned the leadership of both President Donald Trump and former President Joe Biden.
Yang is also a <a href="https://www.benzinga.com/markets/cryptocurrency/22/03/25988651/exclusive-interview-with-andrew-yang-on-financial-inclusion-through-web-3">known advocate for Web3 technology</a>.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46149584/why-crypto-investors-are-receiving-internal-revenue-service-warning-letters">Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters</a>
Why It Matters: Musk <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">announced the launch</a> of America Party in the wake of Trump signing of a significant spending bill last week. He has disapproved of the bill's spending measures and formed the new party as a countermeasure to what he views as a flawed two-party system.
Cuban <a href="https://www.benzinga.com/news/politics/25/07/46266046/anthony-scaramucci-wants-to-discuss-new-party-with-musk-mark-cuban-offers-ballot-access-aid">indicated his willingness to collaborate</a> with the Center for Competitive Democracy to assist the party in getting on ballots, while Anthony Scaramucci showed interest in meeting Musk to discuss the party.
Photo Courtesy: Photo Agency on Shutterstock.com
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$POL

$USDC

Elon Musk's America Party: Polymarket Users Bet On Andrew Yang, Mark Cuban Joining New Political Front

Prominent U.S. leaders, including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook, former President Barack Obama and officials from both parties, reacted with grief and solidarity as <a href="https://www.benzinga.com/news/health-care/25/07/46265894/unprecedented-texas-flash-floods-result-in-over-50-fatalities-27-girls-still-missing">catastrophic floods in Texas</a> left at least 78 dead and dozens more missing.
What Happened: Cook took to X, formerly Twitter, on Sunday and said, "We are heartbroken by the devastating loss caused by the flooding in Texas."
He promised that Apple would help with relief and recovery efforts on the ground.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are heartbroken by the devastating loss caused by the flooding in Texas. Thank you to the incredible first responders and all those providing aid. Apple will support relief and recovery efforts on the ground.
&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1941629573784829999?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46266546/anti-trump-climate-protesters-storm-nyc-apple-store-confront-ceo-tim-cook-amid-texas-flood-crisis">Anti-Trump Climate Protesters Storm NYC Apple Store, Confront CEO Tim Cook Amid Texas Flood Crisis</a>
Obama called the flooding "heartbreaking" and said he and Michelle Obama are praying for everyone who lost someone or is waiting for news, especially the parents of missing children.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The flash flooding in Central Texas is absolutely heartbreaking. Michelle and I are praying for everyone who has lost a loved one or is waiting for news — especially the parents. And we're grateful to the first responders and rescue teams working around the clock to help.
&mdash; Barack Obama (@BarackObama) <a href="https://twitter.com/BarackObama/status/1941908219267281373?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Sen. Elizabeth Warren (D-Mass.) called it "unimaginable heartbreak," while former Speaker Nancy Pelosi (D-Calif.) said, "America's heart is broken for the families and communities devastated by the deadly floods in Texas this weekend."
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Unimaginable heartbreak in Texas from these deadly flash floods. My thoughts are with everyone devastated and the families still holding on to hope to find their loved ones.
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1941993281744703631?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">America's heart is broken for the families and communities devastated by the deadly floods in Texas this weekend. Our prayers go out to all who have lost children and loved ones, those still searching for the missing, and the brave first responders.
&mdash; Nancy Pelosi (@SpeakerPelosi) <a href="https://twitter.com/SpeakerPelosi/status/1941936681336135768?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Florida Gov. Ron DeSantis (R) pledged active assistance, deploying three swiftwater rescue teams to Texas via the Emergency Management Assistance Compact (EMAC).
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Florida will support Texas following the catastrophic flooding in Kerrville and the surrounding areas. At my direction, <a href="https://twitter.com/FLSERT?ref_src=twsrc%5Etfw">@FLSERT</a> is deploying three swiftwater rescue teams through an EMAC to assist with response and recovery. We're standing by to lend more help as requested.
&mdash; Ron DeSantis (@GovRonDeSantis) <a href="https://twitter.com/GovRonDeSantis/status/1941906135465754868?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Why It's Important: The floods, triggered by torrential rain that caused the Guadalupe River to overflow, have claimed at least 78 lives, including 28 children, officials confirmed Sunday, reported Reuters.
The epicenter was Kerr County, where most of the fatalities occurred. Ten others died across four neighboring counties, and at least 41 people remain missing. More than 850 people have been rescued so far, many clinging to trees as a second wave of flooding looms, the report said.
Among the hardest-hit locations was Camp Mystic, a nearly century-old Christian girls&#8217; summer camp, where 10 campers and one counselor remain unaccounted for.
President Donald Trump, speaking from New Jersey, offered condolences and said he would likely visit the area Friday. "It's a horrible thing that took place… God bless the state of Texas," he said.
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Photo Courtesy: Westlight on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

Tim Cook Says 'Heartbroken' By Devastating Loss Caused By Texas Floods, Ron DeSantis Vows To Support Lone Star State

What Happened: On Sunday, Donald Trump expressed his discontent with Elon Musk over his <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">announcement of the &#8220;America Party.&#8221; </a>
Trump criticized Musk for his intention to establish a third political party, describing it as a &#8220;Train Wreck.&#8221; The president argued that third parties have historically failed in the U.S. and only cause &#8220;Disruption &amp; Chaos.&#8221; 
&#8220;The System seems not designed for them,&#8221; wrote Trump on Truth Social.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="606" height="922" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06202354/Screenshot-2025-07-07-at-9.23.34.png" alt="" class="wp-image-973819" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06202354/Screenshot-2025-07-07-at-9.23.34.png 606w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06202354/Screenshot-2025-07-07-at-9.23.34-197x300.png 197w" sizes="(max-width: 606px) 100vw, 606px" /></figure>
Screenshot from Donald Trump&#8217;s Truth Social Account
He also highlighted the recent success of the Republican Party, which passed a major bill eliminating the Electric Vehicle Mandate. Trump emphasized that he has always opposed the mandate, advocating for consumer choice in vehicle purchases. 
Trump mentioned that Musk had previously endorsed him despite knowing his stance on the EV Mandate. He also raised concerns about Musk&#8217;s suggestion for a NASA appointment, questioning the appropriateness of Musk&#8217;s friend, a Democrat, for the role.
The president said that his &#8220;Number One charge is to protect the American Public!&#8221;
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46256467/gavin-newsom-is-going-to-south-carolina-next-week-to-remind-rural-voters-there-they-arent-forgotten-presidential-run-in-2028-on-the-cards">Gavin Newsom Is Going To South Carolina Next Week To Remind Rural Voters There They Aren&#8217;t Forgotten, Presidential Run In 2028 On The Cards? </a> Why It Matters: Musk&#8217;s recent political activities, including the formation of the &#8220;America Party,&#8221; have stirred significant attention. He launched this party following Trump&#8217;s signing of a historic spending bill. Musk&#8217;s dissatisfaction with the bill and the two-party system prompted this move. 
The entrepreneur&#8217;s displeasure with Trump&#8217;s &#8220;Big, Beautiful Bill&#8221; led to a poll where 80% of respondents <a href="https://www.benzinga.com/news/politics/25/07/46187403/elon-musk-is-unhappy-with-trumps-big-beautiful-bill-and-just-reminded-everyone-that-80-voted-for-a-new-party">supported a new party</a>. 
Notably, the Libertarian Party had invited him to join their ranks, suggesting that forming a new party <a href="https://www.benzinga.com/news/politics/25/07/46239662/elon-musk-receives-invitation-to-join-libertarian-party-making-a-new-third-party-would-be-a-mistakea">might be a mistake</a>.
Photo Courtesy: Joey Sussman on Shutterstock.com
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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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Trump Calls America Party A 'Train Wreck,' Blasts Elon Musk For Going Completely 'Off The Rails': President Says System Not Designed For A Third Player

A millennial woman on <a href="https://www.reddit.com/r/Millennials/comments/1lpfh5b/be_honest_how_many_of_you_still_get_help_from/">Reddit</a> recently asked a simple question: &#8220;Be honest — how many of you still get help from your parents/family?&#8221;
Her husband is firmly against it, insisting they don&#8217;t accept any financial support from relatives. But she's surrounded by friends who've gotten major help with everything from student loan payments to <a href="https://www.benzinga.com/personal-finance/25/02/43741282/dave-ramsey-says-parents-shouldnt-buy-their-teenagers-cars-it-creates-ridiculous-expectations-for-life">free cars</a> and child care.
<h2 class="wp-block-heading">Millennials Sound Off</h2>
The post sparked a flood of deeply personal replies. While a few agreed with her husband's stance, the overwhelming theme was that help from family is either a lifesaver or a painful, complicated mess.
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&#8220;Quite the opposite. I have supported them,&#8221; one person wrote, summarizing what many others echoed. A number of millennials said they've taken on financial responsibility for their parents or other relatives, sometimes at great personal cost.
One commenter said, &#8220;I&#8217;ve ended up drowning in debt because of my parents. And then they&#8217;ll get mad when I can&#8217;t help them because I&#8217;m -40 bucks in my bank account.&#8221;
<h2 class="wp-block-heading">No Help At All, Or Strings Attached</h2>
Many said they receive no support at all. Some parents couldn't afford to help. Others used money as a weapon. &#8220;My mom thinks financial help = control,&#8221; one wrote.
&#8220;My parents would LOVE for me to come ask them for money,&#8221; someone added. &#8220;They would have so much fun forcing me to grovel, pulling up my bank account and shaming me for <a href="https://www.benzinga.com/25/05/45655593/just-realized-i-spent-1089-at-starbucks-in-7-months-a-middle-class-coffee-addict-wonders-if-blowing-a-mortgage-payment-on-lattes-is-normal">buying a coffee</a>, making me write out a business plan with detailed payback dates etc. I&#8217;d rather live in my car.&#8221;
A common thread was the trauma of growing up with financially comfortable parents who made them feel like a burden. One person said, &#8220;Not a day went by in my childhood where my parents didn&#8217;t complain about how much money I cost them.&#8221;
Trending: Tired of Grid Failures and Charging Deserts? This Startup Has a Solar Fix and $25M+ in Sales — <a href="https://www.benzinga.com/money/meet-the-company-seeking-to-give-americans-energy-independence-and-learn-how-you-can-become-an-early-investor">Now Raising at $3/Share</a>
<h2 class="wp-block-heading">For Others, Help Is Freely Given</h2>
On the flip side, many users shared heartwarming stories of parents or in-laws who offer help without expectations.
&#8220;My mom picks my kid up off the bus three afternoons a week and it saves me $70 a week. I'm very grateful,&#8221; one wrote. Another said, &#8220;My dad will take my car and fill it up with gas [when we visit]. We&#8217;re geriatric millennials. It's quite funny.&#8221;
One commenter explained that their in-laws help with school expenses and even make dinner when they visit. &#8220;It's very nice. I should really tell them more how nice it is.&#8221;
Several said their parents want to help now, while they're alive, instead of <a href="https://www.benzinga.com/personal-finance/25/03/44235244/inheritance-boom-the-6t-windfall-reshaping-wealth-in-2025">leaving an inheritance</a> later. One person reflected: &#8220;They want to see my sibling and I enjoying our lives, not just leave us money when they die.&#8221;
See Also: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — <a href="https://www.benzinga.com/money/americans-spend-1000-per-year-on-plastic-water-bottles-kara-pod-gives-you-clean-drinking-water-by-pulling-moisture-from-the-air">And You Can Invest At Just $6.37/Share</a>
<h2 class="wp-block-heading">Childcare Is A Game-Changer</h2>
Free or subsidized <a href="https://www.benzinga.com/news/25/04/44999168/reason-people-dont-have-kids-earlier-is-theyre-expensive-says-kevin-oleary-however-time-is-the-one-thing-money-cant-buy">childcare</a> came up repeatedly. As one person said, &#8220;Parents of young children have no idea how much they're living life on easy mode when they have their own parents around to step in as babysitters.&#8221;
One person said they bought a house next to their in-laws in hopes of getting help once kids arrived. Others said grandparents caring for kids helped them survive illness, cancer recovery, or high daycare costs.
But others noted that even retired grandparents can be completely uninvolved. &#8220;None of my kids' grandparents work, and none of them offer to help with my kids, and I mean never.&#8221;
Millennials aren&#8217;t all in the same boat. Some are getting a financial cushion from their families, while others are giving everything they have just to keep their families afloat. For many, any help, whether it&#8217;s money, time, or kindness, can mean the difference between drowning and staying above water.
If that help is healthy and freely given, more than a few people say: take it.
Read Next: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Image: Shutterstock

Personal Finance

A Millennial Asked, 'Do You Still Get Help From Family?' Her Husband Refuses But Friends Get Free Cars And Daycare Or Paid Off Student Loans

You've probably wondered it. Maybe even scrolled through Reddit hoping to find a hint: Am I <a href="https://www.benzinga.com/personal-finance/24/09/41075540/is-your-401-k-balance-above-average-find-out-if-youre-beating-most-savers">actually on track for retirement</a>—or falling behind everyone else I know?
Whether you're 40, 50, or staring down 60, the question nags at almost everyone: How much should I have saved by now? And more importantly—how do I stack up?
The good news? You don't need to guess. Financial experts have laid out clear retirement savings benchmarks. The even better news? If you're checking in now, you're already ahead of the many who avoid this question altogether.
Don't Miss:
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<li>Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. </a></li>
<li>Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a></li>
</ul>
<h2 class="wp-block-heading">What You Should Have Saved by Now</h2>
According to Fidelity's retirement guidelines, you should aim to have saved three times your annual salary by age 40, six times by 50, and eight times by 60. By retirement age—typically around 67—they recommend hitting ten times your salary to comfortably maintain your lifestyle.
If you're earning $70,000 a year, that means you should have about $210,000 by 40, $420,000 by 50, and $560,000 by 60. These numbers assume you're saving consistently, investing for growth, and planning to replace roughly 70% to 80% of your pre-retirement income when you stop working.
If your savings line up with those numbers—or even exceed them—you're likely ahead of the curve. But how do these ideal targets compare to what most people have actually saved?
Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — <a href="https://www.benzinga.com/money/meet-the-company-seeking-to-give-americans-energy-independence-and-learn-how-you-can-become-an-early-investor">Become an Investor in This $41.3M Clean Energy Brand Today</a>
<h2 class="wp-block-heading">What People Actually Have in Retirement Accounts</h2>
According to the <a href="https://www.federalreserve.gov/econres/scfindex.htm">Federal Reserve's 2022 Survey of Consumer Finances</a>, as well as recent analysis from SmartAsset and Synchrony Bank, the typical American household falls well below those expert targets.
The median retirement savings for people aged 35 to 44 is about $45,000. For those aged 45 to 54, it's approximately $115,000. By age 55 to 64—the decade when most people are eyeing retirement—it rises to around $185,000.
These are medians, not averages, which means they represent the midpoint—not inflated figures thrown off by <a href="https://www.benzinga.com/personal-finance/25/01/43076826/how-does-your-nest-egg-stack-up-heres-what-it-takes-to-be-in-the-top-10-of-retirement-savers">a few very high balances</a>. In other words, they reflect what most people actually have.
So if you're looking at your retirement account and seeing numbers well above those medians, you're not just keeping up—you're outperforming a large percentage of your peers. If you're below them, you're not alone, but it may be time to reevaluate your savings pace.
See Also: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — <a href="https://www.benzinga.com/money/americans-spend-1000-per-year-on-plastic-water-bottles-kara-pod-gives-you-clean-drinking-water-by-pulling-moisture-from-the-air">And You Can Invest At Just $6.37/Share</a>
<h2 class="wp-block-heading">What to Do If You're Behind</h2>
If your current savings fall short of the benchmarks, don't panic. There's still time to make a meaningful shift.
Start by automating contributions to your 401(k) or IRA. If you're over 50, take advantage of catch-up contribution limits to increase how much you can put away tax-deferred. Even small, consistent increases in savings—especially when invested for growth—can have a major impact over time.
Revisit your budget and see where you might free up extra cash. And if needed, consider adjusting your retirement timeline. Working a few more years can help you save more and reduce the number of years your savings will need to support you.
Whether your <a href="https://www.benzinga.com/money/smartasset">retirement account is ahead of the curve</a> or still playing catch-up, the most important move isn't hitting the perfect number—it's making sure you're moving in the right direction.
Read Next: 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>
Image: Shutterstock

Here's How Much You Should Have Saved for Retirement by 40, 50, or 60 — Are You Ahead of the Curve or Falling Behind?

Demonstrators gathered inside and outside of New York City's 5th Avenue Apple store on Sunday to denounce big tech companies for backtracking on their previous support of the Paris Climate Agreement and to protest the <a href="https://www.benzinga.com/topic/trump-administration">Trump administration</a>, which protestors say is funneling billions of dollars to fossil fuel companies.
Inside the store, a group led by Extinction Rebellion NYC unfurled a banner and chanted "Dump Trump, Apple!" Police officers were called and quickly ejected the protesters. At least one person was arrested, <a href="https://www.amny.com/news/activist-arrested-midtown-apple-store-protest-07062025/">per</a> local media.
Outside the popular Apple Store, more activists were spray-painting the words "Boycott" and "Tim + Trump = Toxic," referencing Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO <a href="https://www.benzinga.com/topic/tim-cook">Tim Cook</a>.
<h2 class="wp-block-heading">What Say You, Mr. Cook?</h2>
In an <a href="https://x.com/tim_cook/status/1701732427897491578?lang=en">X post</a> in September 2023, Cook seemed to be down with the cause. "At Apple, we believe that climate change is one of the world's most urgent priorities and we are deeply committed to doing our part. Today we had a special guest—a real force of nature—stop by to check on our progress."
Then things changed when Trump was elected. 
"Every policy, every business decision, every vote must confront the reality that our planet's future is on the line. Big Tech promised leadership, but when the heat was on, they sat silent—front and center at Trump's inauguration, funding a regime that's gutting climate protections," said Devin Lilly, a spokesperson for Extinction Rebellion.
<h2 class="wp-block-heading">Texas Floods And Climate Change</h2>
The Sunday protest occurred as the death toll from flooding in Central Texas rose to at least 67 lives. Some state officials are blaming the tragedy on a faulty forecast by the new National Weather Service, which was gutted by Trump-Musk-DOGE cost cuts and the firing of the agency's most experienced personnel.
"The original forecast we received on Wednesday from the National Weather Service predicted 3-6" of rain in the Concho Valley and 4-8" of rain in the hill country,&#8221; <a href="https://www.meidasplus.com/p/texas-officials-blame-agency-gutted?fbclid=IwY2xjawLXvRxleHRuA2FlbQIxMQBicmlkETExa0d5dmRIWUxITDU5NW9EAR6q2SJRxRFymeXTdQNHEsS9yeRoQzFcN0cnnrHQbgBcp8R00sZCNIT68f4dlQ_aem_MR5AnNnyJjK2771oaw5UQQ">said</a> one official, adding that the amount of rain that fell in these locations was never in any of their forecasts.
<h2 class="wp-block-heading">Climate Change: Data Centers To Blame?</h2>
Data centers, which power artificial intelligence models and cloud computing, consume <a href="https://www.benzinga.com/partner/commodities/24/05/38814247/ai-data-center-power-requirements-increasing-demand-for-critical-materials-like-copper-and-ur">vast amounts of electricity</a>, much of it sourced from fossil fuels.
A study <a href="https://www.benzinga.com/25/02/43906562/google-microsoft-and-meta-linked-to-54-billion-in-health-costs-as-ai-data-centers-fuel-pollution-crisis-in-the-us-report">reported</a> by Benzinga found that pollution from Big Tech's data centers has cost the U.S. public health system an estimated $5.4 billion over the past five years. Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are among the biggest contributors.
Microsoft, Alphabet, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Meta <a href="https://in.benzinga.com/trading-ideas/long-ideas/25/02/43564458/big-techs-2025-ai-bill-is-320-billion-and-counting-can-investors-stomach-it">expect to spend over $320 billion</a> on AI this year, up from $151 billion in 2023 and $246 billion in 2024. 
Photo: Courtesy Extinction Rebellion NYC&nbsp;

AMZN

MSFT

Anti-Trump Climate Protesters Storm NYC Apple Store, Confront CEO Tim Cook Amid Texas Flood Crisis

Sam Altman, the CEO of OpenAI, has been credited with a significant sales boost for crib manufacturer Cradlewise, following his endorsement of the product.
What Happened: Altman, who became a father in February, shared his parenting supplies recommendations in an April 13 post, which included a shout-out to Cradlewise. &#8220;Definitely I recommend a Cradlewise crib,&#8221; he stated.
Following Altman&#8217;s endorsement, Cradlewise experienced a surge in organic site traffic by over 30% and a notable increase in daily sales, Cradlewise&#8217;s co-founder and CEO, Radhika Patil, <a href="https://www.businessinsider.com/sam-altmans-influence-boosted-crib-sales-ceo-says-2025-7">told </a>Insider.
<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">we bought a lot of silly baby things that we haven&#39;t needed but definitely i recommend a cradlewise crib and a lot more burp rags than you think you could possibly need
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1911496563157000568?ref_src=twsrc%5Etfw">April 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Google Trends data revealed that searches for Cradlewise peaked on the day of Altman&#8217;s post. The company has since featured Altman&#8217;s endorsement on its official website.
Also Read: <a href="https://www.benzinga.com/trading-ideas/technicals/25/06/46160081/sam-altman-warns-users-not-to-blindly-trust-chatgpt-despite-its-rising-fame-says-ai-hallucinates-it-should-be-the-tech-that-you-dont-trust-that-much">Sam Altman Warns Users Not To Blindly Trust ChatGPT Despite Its Rising Fame, Says &#8216;AI Hallucinates, It Should Be The Tech That You Don&#8217;t Trust That Much&#8217;</a>
The Cradlewise crib, retailing at $1,999, is known for its unique features such as a built-in baby monitor, sound machine, and the ability to convert&nbsp;from a bassinet into a&nbsp;crib.
&#8220;Sam Altman&#8217;s mention of Cradlewise&nbsp;was a surreal and humbling&nbsp;moment for our team,&#8221; Patil&nbsp;said.
Why It Matters: The power of celebrity endorsements is well-documented, and Altman&#8217;s influence in the tech industry is significant. 
His endorsement not only increased sales but also boosted the brand&#8217;s visibility, as evidenced by the spike in Google Trends. 
This incident highlights the potential impact of influential figures on consumer behavior and the success of a product in the market.
Read Next
<a href="https://www.benzinga.com/news/25/05/45366262/openais-sam-altman-reaches-out-to-elon-musk-amid-ongoing-social-media-spat-lets-be-friends">OpenAI&#8217;s Sam Altman Reaches Out to Elon Musk Amid Ongoing Social Media Spat: &#8216;Let&#8217;s Be Friends&#8217;</a>
Image: Shutterstock

Sam Altman's Endorsement Skyrockets Crib Sales, Cradlewise CEO Reveals

Billionaire entrepreneur&nbsp;Mark Cuban&nbsp;once shed light on the challenges of raising children amidst substantial wealth. He emphasized the significance of individual success and self-reliance.
What Happened:&nbsp;Cuban, who boasts&nbsp;an estimated net worth of&nbsp;$5.7 billion, voiced his concerns about the expectations his wealth imposes on his children. These comments were made during a discussion with TikToker Bobbi Althoff on &#8220;The Really Good Podcast.&#8221;
Cuban, a father to three children aged between 13 and 20, expressed that his wealth often leads to assumptions about his children. He aspires for his children to carve out their own paths and careers without being perpetually compared to him.
&#8220;Sometimes I think [the money&nbsp;is] the part they don&#8217;t&nbsp;like,&#8221; Cuban&nbsp;<a href="https://www.youtube.com/watch?v=keN-qiRfU3c">said </a>during the interaction. &#8220;Not that they want&nbsp;to be poor, but it&nbsp;sets an expectation &#8230; it&#8217;s&nbsp;how other people see them.&#8221;
Also Read: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/45939593/mark-cuban-challenges-concept-of-work-life-balance-for-high-achievers-not-working-would-be-a-sacrifice">Mark Cuban Challenges Concept of Work-Life Balance for High Achievers: Not Working &#8216;Would Be a Sacrifice&#8217;</a>
Known for his entrepreneurial endeavors and investments, Cuban has always championed his children to achieve&nbsp;their own successes, rather than&nbsp;leaning on his reputation or wealth. He motivates his children&nbsp;to use their own money, earned from chores or jobs, for buying non-essential items.
He also revealed that his 13-year-old son is treading his entrepreneurial path, selling candy bars to classmates and understanding business costs.
Why It Matters: Cuban&#8217;s comments highlight the unique challenges faced by the children of wealthy individuals. The expectations set by their parents&#8217; success can often lead to undue pressure and scrutiny. 
Cuban&#8217;s approach to parenting emphasizes the importance of self-reliance and individual success, values that he hopes will guide his children in their own journeys. 
His son&#8217;s entrepreneurial endeavors indicate that Cuban&#8217;s values are already having an impact, potentially shaping the next generation of business leaders.
Read Next
<a href="https://www.benzinga.com/news/25/03/44348044/mark-cuban-reveals-what-hed-do-as-a-gen-zer-to-get-ahead-even-while-sleeping-if-i-was-16-18-20-21-starting-today-i-would-spend-every-waking-minute-learning-it" target="_blank" rel="noreferrer noopener">Mark Cuban Reveals What He'd Do As A Gen Zer to Get Ahead—Even While Sleeping: ‘If I Was 16, 18, 20, 21 Starting Today, I Would Spend Every Waking Minute Learning It'</a>
Image: Shutterstock

Mark Cuban Says His Children Struggle With the Downsides of His Wealth: 'Not That They Want To Be Poor, But It Sets An Expectation'

Bolt CEO Ryan Breslow says it&#8217;s time to stop pretending unlimited vacation is working.
<h2 class="wp-block-heading">The Promise Isn&#8217;t Living Up To The Hype</h2>
In a recent LinkedIn <a href="https://www.linkedin.com/posts/ryanbreslow_we-just-killed-unlimited-pto-at-bolt-it-activity-7345775765600235521-XFVB/">post</a>, Breslow announced that his online checkout company is officially ditching its unlimited paid time off policy, joining the ranks of Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Kickstarter. The move comes after realizing the policy wasn't helping the team; it was actually hurting it.
&#8220;It sounds progressive, but it&#8217;s totally broken,&#8221; Breslow wrote. &#8220;When time off is undefined, the good ones don&#8217;t take PTO. The bad ones take too much.&#8221;
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The result? &#8220;A-performer burnout. B-performer luxuries. And feelings of unfairness across the board,&#8221; he said.
Bolt is now offering four weeks of mandatory paid vacation, with additional time accruing based on tenure. According to Breslow, this shift brings clarity and fairness, which he believes are crucial if the company is asking employees to &#8220;move fast, build hard, and operate at the highest level.&#8221;
&#8220;Execution requires clarity. That applies to PTO, too,&#8221; he added.
<h2 class="wp-block-heading">Bolt Isn&#8217;t Alone</h2>
While unlimited vacation policies sound like a dream, experts say they often benefit employers more than employees. CBS MoneyWatch <a href="https://www.cbsnews.com/news/unlimited-vacation-bad-deal-companies-save-billions/">reported</a> in 2023 that such policies allow companies to erase unused vacation day liabilities from their balance sheets, saving them billions.
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation.&nbsp;</a>
Wharton School Professor Peter Cappelli told CBS MoneyWatch that shifting to unlimited time off means companies go from a &#8220;contractual obligation to a kind of moral obligation.&#8221; He estimated that U.S. businesses are saving about $224 billion by doing this.
&#8220;Conscientious employees aren&#8217;t likely to take advantage of their access to unlimited time off, but less-motivated employees&#8230; can be far more inclined to take off as much time as they can get away with,&#8221; workplace consultant Alison Green told CBS MoneyWatch.&nbsp;
Bolt recently made another controversial <a href="https://www.linkedin.com/posts/ryanbreslow_bolt-has-eliminated-its-hr-department-activity-7340377688517365761-0TcL/">change</a>—eliminating its human resources department entirely. Breslow said the company has replaced it with &#8220;people ops,&#8221; which he claims is more <a href="https://www.benzinga.com/news/24/09/41079963/decoding-zuckerbergs-efficiency-mantra-a-wifi-password-speaks-volumes">focused on efficiency</a> and gives managers more power.
&#8220;We believe there&#8217;s a better way to do it; and one without middlemen getting in the way of our teammates and their managers,&#8221; he wrote. &#8220;After several experiments, including Conscious Culture, I've concluded that HR is the wrong energy, format, and approach. People ops empowers managers, <a href="https://www.benzinga.com/markets/25/03/44077254/i-dont-know-may-be-the-key-to-smarter-investing-decisions">streamlines decision making</a>, and keeps the company moving at lightning speed.&#8221;
That shift is part of a broader theme at Bolt: cutting unnecessary complexity and putting clearer systems in place. In Breslow&#8217;s view, that includes ditching unlimited vacation.
Read Next:&nbsp;
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<li>Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — <a href="https://www.benzinga.com/money/americans-spend-1000-per-year-on-plastic-water-bottles-kara-pod-gives-you-clean-drinking-water-by-pulling-moisture-from-the-air">And You Can Invest At Just $6.37/Share</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>
Image: Shutterstock

NFLX

Another Company Is Scrapping Unlimited Time Off For Their Employees—'The Good Ones Don't Take PTO. The Bad Ones Take Too Much'

When one millennial asked on <a href="https://www.reddit.com/r/Millennials/comments/1loh3ot/do_you_personally_know_any_millennial/">Reddit</a>, &#8216;Do you personally know any millennial millionaires?&#8217; they probably weren't expecting hundreds of real answers. But the replies came fast and honest—yes, they exist, and they're not as rare as people might think.
<h2 class="wp-block-heading">From Tech Jobs To Inheritance, There&#8217;s No Single Path</h2>
A large chunk of the thread was filled with stories of people who got into tech early. &#8220;The one from college went into computer science, ended up working at FAANG right out of school,&#8221; the original poster wrote. FAANG refers to Facebook, Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Google. After more than 12 years of saving and investing, their friend <a href="https://www.benzinga.com/real-estate/25/06/46092317/are-you-one-of-the-1000-people-per-day-who-recently-became-a-millionaire-dont-make-this-one-mistake-that-sends-most-back-to-square-one">hit millionaire status</a>.&nbsp;
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<li>Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a></li>
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Another added, &#8220;Every single engineer I know became a millionaire by around 30.&#8221;
Some became millionaires the long, slow way. &#8220;I am, but low level with a worth of about $1.5M,&#8221; one person wrote. &#8220;No magic sauce to my methods, I've just <a href="https://www.benzinga.com/news/25/05/45578789/kevin-oleary-says-this-one-habit-alone-could-make-you-a-millionaire-and-you-dont-even-have-to-bother">consistently contributed</a> to my accounts over the years and busted my butt working on the house which is now worth 3x what I paid.&#8221;
<a href="https://www.benzinga.com/personal-finance/24/06/39402040/ramit-sethi-says-becoming-a-multimillionaire-is-simple-invest-10-of-your-salary-every-year-with-">Index funds and time</a> were a recurring theme. &#8220;Once I hit around $150K I noticed exponentially growing,&#8221; a commenter shared. Others said they were well on their way just by investing early and often, even on modest salaries. &#8220;I'm a mechanical engineer&#8230; I just make good money but not incredible and always lived on about the US median or less,&#8221; one person said. &#8220;We've had an insane bull run since I graduated in the mid-2010s.&#8221;
Location mattered too. &#8220;A lot of my friends on the west coast are [millionaires], just because of higher salaries and housing,&#8221; one said. Others mentioned they felt wealthy in their communities even if they'd be average in places like the San Francisco Bay Area.
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Of course, plenty got there through inheritance or generational wealth. &#8220;I do. Their parent died, and they inherited a lot of money plus life insurance money, and sold the parent's $1.6M home,&#8221; one commenter wrote. Another admitted, &#8220;Me and all of my brothers, but just because our parents established trust funds for each of us.&#8221;
Still, many were self-made through business ownership. &#8220;Buddy is a convict and couldn't get a job. He started his own concrete business. It's hard work but he easily makes $600K a year.&#8221; Others succeeded in less expected ways: OnlyFans, YouTube, or founding companies and selling them off.
Some reminded others that being a millionaire today isn't what it used to be. &#8220;Literally about a third of the wealth of a millionaire in 1984,&#8221; someone pointed out. &#8220;Meaning you really need to have $3 million to have the lifestyle of a millionaire we think of.&#8221;
But there was a shared thread across most responses: they lived below their means, stayed consistent, and had a long time horizon. As one person put it, &#8220;Simple but not easy is really it.&#8221;
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In the midst of a public spat with President Donald Trump, Elon Musk, CEO of Tesla Inc., has received an unexpected offer of support from Michael Cohen, <a href="https://www.benzinga.com/news/24/06/39243630/a-prosecutor-made-a-key-allegation-in-donald-trumps-hush-money-case-except-it-doesnt-seem-to-add-up">Trump&#8217;s former personal attorney.</a>
What Happened: Last month Cohen reached out to Musk following a series of heated exchanges between the Tesla CEO and President Trump on social media. 
Musk, who was once a strong supporter of Trump and even headed the Department of Government Efficiency, publicly denounced Trump&#8217;s &#8220;One Big Beautiful Bill.&#8221;
Musk&#8217;s criticism of Trump, which included allegations of the president&#8217;s involvement in the Epstein files, and his claim that the&nbsp;Republicans would not have won&nbsp;the 2024 elections without his support, could have far-reaching effects on the tech industry, the business world, and American politics, considering the significant influence wielded by both Trump and Musk.
Cohen, who had his own public disagreement with Trump and served a prison sentence for various charges, has since become a vocal critic of the president. 
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46264859/ex-trump-family-attorney-raises-alarms-over-trumps-actions-as-president-i-have-never-been-as-concerned">Ex-Trump Family Attorney Raises Alarms Over Trump&#8217;s Actions as President: &#8216;I Have Never Been As Concerned&#8217;</a>
He reached out to Musk on X, with a message: &#8220;@elonmusk I told you this would happen. If you want to know how to fight political guerrilla warfare, DM me! Otherwise, you lose.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">. <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> I told you this would happen. If you want to know how to fight political guerilla warfare, DM me! Otherwise, you lose. <a href="https://t.co/FN8uFS51te">https://t.co/FN8uFS51te</a>
&mdash; Michael Cohen (@MichaelCohen212) <a href="https://twitter.com/MichaelCohen212/status/1930781215076040850?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
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In a subsequent Substack post, Cohen cautioned Musk that Trump has &#8220;the full weight of the federal government behind him,&#8221; and that Musk &#8220;made the classic mistake of believing he was untouchable.&#8221; 
&#8220;Let me make something crystal clear: no one; not Bannon, not Jared, not Rudy, not me, and definitely not Elon, has ever been more important to Trump than Trump. The &#8216;bromance&#8217; is never about you. It&#8217;s about what he can extract from you. Your loyalty. Your power. Your credibility. Your money. And when it&#8217;s over, it&#8217;s not just over; it&#8217;s scorched earth,&#8221; he wrote in the Substack.
The public feud between Musk and Trump is not just a personal disagreement. It has the potential to impact the tech industry and the broader business sector, given the substantial influence both individuals have. 
Cohen&#8217;s offer to assist Musk in navigating this political minefield could signal a shift in alliances and power dynamics, with potential implications for future political and business developments.
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Ex-Trump Lawyer Sent This Message To Elon Musk After Feud With Donald Trump Erupted

Long before she wrote a memoir or inherited millions, Lisa Brennan-Jobs was just a 9-year-old hoping her dad might give her his old Porsche.
In an <a href="https://www.vanityfair.com/news/2018/08/lisa-brennan-jobs-small-fry-steve-jobs-daughter">excerpt from her memoir, "Small Fry," in Vanity Fair</a> in 2018, she recalled a moment that stuck — not because of the car, but because of what it revealed.
She'd heard that her father, <a href="https://www.benzinga.com/markets/tech/25/06/46159877/steve-jobs-once-spent-two-weeks-choosing-a-washing-machine-for-his-palo-alto-home-and-he-got-more-thrill-out-of-it-than-any-piece-of-high-tech-in-ages">Steve Jobs</a>, liked to <a href="https://www.benzinga.com/general/education/24/10/41196286/apple-founder-steve-jobs-swapped-porsches-every-6-months-heres-why">trade in his Porsches</a> anytime one got scratched. So she asked, half-curious, half-hopeful: Could she have one when he was done with it?
"‘Absolutely not,' he said in such a sour, biting way that I knew I'd made a mistake," she wrote. "‘You're not getting anything,' he said. ‘You understand? Nothing. You're getting nothing.'"
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She remembered the sting more than the words. "His voice hurt — sharp, in my chest."
It was one of many moments she describes in her memoir — not to attack her father, but to reckon with the complexity of who he was. She doesn't flatten him into a villain. But she doesn't soften the pain either.
Before Apple made him a household name, Jobs denied paternity when Lisa was born in 1978. He even told <a href="https://time.com/4063996/steve-jobs-movie-time-magazine-profile/">Time magazine</a> in 1982 that "28% of the male population of the United States could be the father." A court-ordered test later found a 94.1% chance that he was.
Her mother, Chrisann Brennan — a painter and early Apple employee — raised Lisa alone, often relying on welfare. Jobs didn't start paying child support until the results came in, and even then, it started at just $385 a month.
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In 2015, <a href="https://fortune.com/2015/08/06/steve-jobs-apple-girlfriend/">Fortune reported</a> that Jobs eventually did more. He bought Brennan two cars, purchased a $400,000 home for her, paid for Lisa's private school tuition, and gradually increased monthly support to $4,000. Still, Brennan reportedly said, "He was cheap as he could be. He under-provided for everything. It was always like pulling teeth to get him to step up."
Lisa recalled other emotional gaps too — like when she asked why he didn't keep any baby photos of her. She wondered aloud if she'd been an ugly baby. He didn't respond.
When she got to Harvard, Jobs reportedly refused to pay for her senior year. Family friends covered it instead. He reimbursed them years later.
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After his death in 2011, Fortune also reported that Jobs left Lisa a multimillion-dollar inheritance — though the vast majority of his $10.8 billion fortune went to his wife, Laurene Powell Jobs. She later said she had no plans to pass that wealth on to his other three children. "If I live long enough, it ends with me," she told <a href="https://www.nytimes.com/2020/02/27/business/laurene-powell-jobs-corner-office.html">The New York Times in 2020</a>, noting that Steve never cared much about accumulating money.
Some critics praised Lisa's memoir as thoughtful and restrained. Others saw it as a raw portrait of a father who could be emotionally absent, even cruel.
Lisa never claimed her intention was to settle scores. But the story she told — of asking for a used Porsche and being told she'd get "nothing" — made it hard to ignore just how much she had longed for something more.
Read Next: <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.
Image: Shutterstock

Steve Jobs' Daughter Says He Refused To Give Her His Old Porsche When She Was 9 —'You're Not Getting Anything. You Understand? Nothing'

President Donald Trump&#8216;s approval rating among Baby Boomers has seen a significant surge, potentially solidifying his political base as we approach the 2026 midterm elections.
What Happened:&nbsp;The latest Quantus Insights poll shows a significant shift in&nbsp;Trump&#8217;s approval rating among baby&nbsp;boomers. Last month, the approval and disapproval ratings were evenly split at 49 percent. 
However, this month&#8217;s poll reveals a 15-point swing in Trump&#8217;s favor, with 56 percent approval and 41 percent disapproval.
Despite declining approval ratings among younger Americans and other key demographics, this turnaround emphasizes Trump&#8217;s enduring appeal among older conservatives. Baby boomers, who were instrumental in Trump&#8217;s 2024 victory, continue to be a vital part of his political base.
While the Quantus Insights poll&nbsp;indicates a surge in boomer support for Trump, other polls suggest&nbsp;that his approval rating among&nbsp;this demographic has remained relatively&nbsp;consistent in recent months. 
Also Read: <a href="https://www.benzinga.com/news/25/05/45482902/poll-shows-trumps-approval-rating-underwater-on-nearly-everything-from-economy-to-abortion">Poll Shows Trump&#8217;s Approval Rating Underwater on Nearly Everything From Economy to Abortion</a>
A&nbsp;YouGov/Economist poll found Trump&#8217;s rating&nbsp;among over-65s holding steady at&nbsp;45 percent approve/53 percent disapprove&nbsp;in June—barely changed from May&#8217;s&nbsp;numbers of 45/51.
Why It Matters: Trump&#8217;s standing with boomers, however, could be jeopardized in the coming months following the passage of Trump&#8217;s &#8220;Big Beautiful Bill&#8221; last Thursday. 
This legislation is set to slash approximately&nbsp;$1.1 trillion in health care&nbsp;spending and result in 11.8&nbsp;million people losing Medicaid health&nbsp;insurance over the next decade,&nbsp;according to&nbsp;estimates from the nonpartisan Congressional&nbsp;Budget Office.
Recent polls show&nbsp;that a majority of Americans&nbsp;oppose Trump&#8217;s One Big Beautiful&nbsp;Bill Act. A Quinnipiac poll&nbsp;conducted June 22-24 found that&nbsp;55 percent of Americans oppose&nbsp;the bill. 
A Fox News&nbsp;survey from June 13-16 put&nbsp;opposition even higher, at 59&nbsp;percent. This opposition, particularly from a demographic reliant on healthcare, could potentially impact Trump&#8217;s approval ratings in the future.
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Donald Trump's Approval Rating Jumps Among Baby Boomers — Here's What's Driving It

In the wake of President Donald Trump&#8216;s budget bill approval, billionaire and financial advisor Ray Dalio anticipates serious economic repercussions.
What Happened: Dalio has voiced serious apprehensions about the financial future of the US. President Trump&#8217;s &#8220;One Big Beautiful Bill&#8221; is projected to escalate the national debt from roughly $230,000 per household to $425,000 within the next decade.
In a post on X, Dalio cautions that this national debt surge will have severe consequences. The&nbsp;bill is expected to lead&nbsp;to an annual expenditure&nbsp;of about $7 trillion against an income of approximately $5 trillion. 
As a result, the debt, currently 6x of the income,&nbsp;100% of GDP, and about&nbsp;$230,000 per family, will increase to about 7.5x the income, 130% of GDP, and $425,000 per family over the next decade.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt,…
&mdash; Ray Dalio (@RayDalio) <a href="https://twitter.com/RayDalio/status/1940842227409748385?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
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This rise will elevate the&nbsp;interest and principal payments on&nbsp;the debt from about $10&nbsp;trillion to roughly $18 trillion, resulting in significant spending cutbacks, unprecedented tax increases, or extensive money printing and devaluation.
Also Read: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/46159972/us-faces-financial-heart-attack-ray-dalio-warns-shares-investment-strategies-the-safest-investment-that-you-can-get-right-now-is-an-inflation-indexed-bond">US Faces &#8216;Financial Heart Attack,&#8217; Ray Dalio Warns — Shares Investment Strategies: &#8216;The Safest Investment That You Can Get Right Now Is An Inflation-Indexed Bond&#8217;</a>
Dalio proposes that the solution to this looming fiscal crisis&nbsp;is to cut spending and&nbsp;raise taxes to decrease the annual deficit to GDP ratio. 
He warns that if these measures are not soon implemented, &#8220;big, painful disruptions will likely&nbsp;occur.&#8221;
Why It Matters: The forecasted doubling of the US national debt over the next decade is a serious concern. 
The predicted consequences of this increase, including significant spending cutbacks, unprecedented tax hikes, and potential money devaluation, could have far-reaching implications for the US economy. 
Dalio&#8217;s warning serves as a stark reminder of the need for fiscal responsibility and strategic economic planning to mitigate these potential disruptions.
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Ray Dalio Forecasts 'Big, Painful Disruptions' as US National Debt Set To Swell Over Next Decade

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