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CHEMOURS CO/THE

Chemours

The Chemours Co is a provider of chemicals. It delivers customized solutions with a wide range of industrial and specialty chemicals products for various markets including coatings, plastics, refrigeration, air conditioning, etc. The company's operating segments include Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. It generates maximum revenue from the Titanium Technologies segment. The Titanium Technologies segment is a producer of TiO2 pigment, a premium white pigment used to deliver whiteness, brightness, opacity, durability, efficiency, and protection across a variety of applications. Geographically, the company derives a majority of its revenue from North America.

The Chemours Co

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A car is a depreciating asset that loses value the moment you take it out of the dealer's lot. While some people view a car as nothing more than a method of transportation, others want to spend some extra money on a fun vehicle.
A 27-year-old is considering making this type of purchase and <a href="https://www.reddit.com/r/HENRYfinance/comments/1koen5f/how_much_is_too_much_to_spend_on_a_fun_vehicle/">posted in the HENRY Finance Reddit community</a>. The guy has a $500,000 net worth and maxes out his 401(k) and Roth accounts. He's got $2,400 in monthly expenses, which include rent, and he makes $350,000 per year. That salary does not include his bonus.
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"Feel free to talk me out of this," the 27-year-old suggested while having some reservations about the idea.&nbsp;
Fellow Redditors shared their thoughts in the comments.
<h2 class="wp-block-heading">A Fun Car Can Give You More Motivation</h2>
One commenter has bought fun, expensive cars and encouraged the Redditor to do the same. The commenter stated that buying these types of cars serves as extra motivation. Riding an exotic vehicle can put you in a different mindset. If you want to collect these types of cars, you have to earn more money and be smarter about how you spend the rest of your money.
Buying the car can also make you feel like you are on top of the world. Having that feeling as a 27-year-old and knowing that you have your entire life ahead of you is a great feeling. You will realize you can accomplish a lot in your life and that there is still much for you to do.
Another commenter said they made that type of purchase in their mid-20s and felt empowered by it. However, this same individual is in their 40s and doesn't want a luxury car anymore, despite being out of the "High Earner, Not Rich Yet" category.
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<h2 class="wp-block-heading">It's Easier To Buy A Sports Car When You Don't Have Kids</h2>
The 27-year-old doesn't have many expenses right now. Some people questioned how he's only spending $2,400 per month, including rent. That means he's keeping most of his money, and since he earns a lot, it's much easier to buy an exotic car.&nbsp;
The Redditor could buy this car with cash instead of taking out a loan. That way, interest and regular monthly payments don't eat away at his finances. It looks like he can still max out his retirement accounts and make regular investments in his brokerage account.
However, it gets much harder to buy one of these cars as a parent. You will have other responsibilities and expenses to cover. The Redditor won't always be making $350,000 per year and spending $2,400 per month. The expenses will go up a lot in the future, so if the luxury car is a bucket list item, going for it now may make sense.
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
<h2 class="wp-block-heading">You Can Afford Anything, But Not Everything</h2>
One Redditor proposed the "afford anything" mentality that Paula Pant recommends. The idea is that you can afford anything, but not everything. If the 27-year-old is all set on a luxury car and doesn't have any other discretionary spending categories, it makes sense to get the car. However, if the Redditor wants to travel more often, he may want to wait before buying a nice car.
It's still good to gauge how much you can afford. One commenter suggested purchasing an $80,000 vehicle instead of a $120,000 vehicle. Cutting down the maximum purchase price can still result in a nice car while allowing the Redditor to save more money.
The luxury car is doable if the 27-year-old maintains low expenses. He may not have this type of opportunity when he starts his family. Buying the car and aggressively saving the rest of his annual salary can still set him up for long-term wealth.
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Image: Shutterstock

Personal Finance

A 27-Year-Old Redditor Wants To Know How Much Is Too Much To Spend On A Fun Vehicle: 'Feel Free To Talk Me Out Of This'

The U.S. <a href="https://www.benzinga.com/general/education/25/03/44444175/trump-orders-steps-to-dismantle-department-of-education-what-it-means-for-student-loans">Department of Education</a> has resumed involuntary collections on defaulted student loans, ending a five-year pause that began during the COVID-19 pandemic. As of May 5, federal agencies can once again seize income from defaulted borrowers, including garnishing wages, intercepting tax refunds, and taking a portion of Social Security benefits.
The change could directly impact around 452,000 Americans age 62 and older, according to the <a href="https://www.consumerfinance.gov/data-research/research-reports/issue-spotlight-social-security-offsets-and-defaulted-student-loans/">Consumer Financial Protection Bureau</a>. Many of these retirees could see their monthly Social Security checks reduced significantly, in some cases down to just $750, <a href="https://www.forbes.com/sites/shaharziv/2025/05/16/social-security-benefits-could-be-slashed-to-750-under-trumps-student-loan-wage-seizure/">Forbes</a> reports.
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<h2 class="wp-block-heading">From $1,883 to $750: A Sharp Drop in Protected Income</h2>
Under a policy proposed during the Biden administration, borrowers receiving Social Security benefits would have been able to shield up to 150% of the federal poverty line — about $1,883 per month — from student loan garnishment. That protection was never implemented.
Instead, the current policy reverts to a decades-old rule from 1996, which only protects the first $750 of a retiree's monthly Social Security income. Anything above that can be garnished, up to 15% of the total benefit, experts told <a href="https://www.cnbc.com/2025/05/14/social-security-benefits-at-risk-for-defaulted-student-loan-borrowers.html">CNBC</a>. The $750 floor has not been adjusted for inflation, meaning it now falls well below the federal poverty line.
<h2 class="wp-block-heading">Why $750 No Longer Covers the Basics</h2>
Back in 1996, $750 was considered a modest but livable amount for a single retiree. Today, it's about $400 below the monthly poverty line of roughly $1,255. For perspective, even the federal Supplemental Security Income benefit — designed to support low-income seniors — currently pays up to $967 per month.
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Had the exemption amount kept pace with inflation, it would be closer to $1,450 today, according to Forbes. Instead, retirees whose benefits are garnished may now be left with less money than what's required to cover basic needs like rent, groceries, or <a href="https://www.benzinga.com/news/25/05/45389750/trump-claims-drug-price-crackdown-could-slash-your-prescription-costs-by-59-but-will-big-pharma-fight-it-again">prescription medications</a>.
<h2 class="wp-block-heading">How the Policy Shift Happened</h2>
The Biden administration attempted to increase protections for older borrowers, according to the <a href="https://www.nasfaa.org/news-item/35488/Biden_Administration_Releases_Policy_Memo_on_Efforts_to_Prevent_Student_Loan_Default">National Association of Student Financial Aid Admissions</a>. In the final months of his term, Under Secretary of Education James Kvaal proposed raising the garnishment floor to $1,883, with annual inflation adjustments. That change would have significantly reduced or eliminated garnishments for most affected retirees.
However, the Trump administration did not adopt the proposal. Instead, it reinstated the 1996-era garnishment policy. According to the U.S. Department of Education, this move is in line with requirements under the Higher Education Act of 1965 and was made alongside a broader restart of collections on all defaulted loans.
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<h2 class="wp-block-heading">Lawmakers Call for Reform</h2>
As benefit offsets resume, lawmakers and consumer advocates are pushing for legislative changes. Rep. Ayanna Pressley (D-MA) and Sen. Cory Booker (D-NJ) have <a href="https://pressley.house.gov/2025/05/14/pressley-booker-warren-reintroduce-bill-to-suspend-garnishments-for-student-loan-borrowers/">introduced a bill</a> to halt Social Security garnishment for student loan debt. Pressley called the policy "shameful," saying that no one should have their retirement benefits seized to repay old student loans.
Whether the bill gains traction remains uncertain. For now, retirees in default are urged to explore options like income-driven repayment or <a href="https://www.benzinga.com/markets/25/05/45464783/student-loan-payment-tightening-will-prevent-access-to-credit-and-could-have-a-dramatic-effect-on-ho">loan rehabilitation</a> to avoid benefit garnishment. The Federal Student Aid office has expanded support and extended call center hours to assist affected borrowers.
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Image: Shutterstock

Social Security Checks Could Shrink For 450,000 Retirees As Government Resumes Seizing Benefits Over Student Loan Defaults

Shaq Owned 155 Five Guys But Had No Clue How To Run Them — So He Turned To A McDonald's Manager Who Hooked Him Up During His NBA Days Into A Partner
Imagine being offered a stake in a booming burger chain and saying yes before you even knew what it was. That's exactly what happened to <a href="https://www.benzinga.com/personal-finance/24/09/40943843/we-aint-rich-im-rich-nba-legend-shaq-says-his-daughters-and-sons-dont-get-equal-treatment-my-boy">Shaquille O'Neal</a>.&nbsp;
In a <a href="https://www.instagram.com/andrewcordle/reel/DCNNlikS5vM/">clip shared to Instagram</a> in November by entrepreneur Andrew Cordle during the Aspire Tour, Shaq recounted the unexpected moment that launched him into the burger business.
"One day a guy came up to me and said, ‘Hey man, I'm starting this thing called Five Guys,'" Shaq recalled. "I was like, ‘What's Five Guys?' He's like, ‘Burgers. I wanna offer you equity in the company, and I wanna give you franchises.' So I say yes, but now I'm like, I don't know sh&#x2A;t about burgers… What do I do?"
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Shaq didn't just need a manager — he needed someone who actually knew the fast food game. So he looked to someone who'd already earned his trust during his NBA days in Orlando: a local McDonald's manager who had always treated him well.
"When I was playing here in Orlando, there was a guy at the McDonald's. He was the manager, and he always took care of me," Shaq said. "Didn't really have the cash to branch out. So I said okay, I already got the plan. I'm gonna take him, I will make him a partner, he's gonna run it."
Not just a thank-you, but a full-on business partnership. And it worked. Shaq said, "We're going to keep it, sell it, or whatever. And it worked out for me. So I think I had 155 Five Guys and he ran it."
Eventually, someone made him an offer he couldn't refuse. "Met a guy one day who wanted to take it off my hands. He showed me the number and I looked at it and was like, you can have it all," Shaq laughed. "You can have the burger, the fries, the lettuce, the shakes."
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What started as a spur-of-the-moment yes turned into a 155-location empire — and all because, as Shaq put it, "I get a lot of opportunities just by being a nice guy."
And being a nice guy has paid off — literally. Today, Shaq's estimated <a href="https://www.benzinga.com/general/sports/25/05/45482493/nba-legend-shaq-once-offered-500k-on-the-spot-to-fulfill-a-promise-to-his-grandmother-and-that-same-mindset-set-the-tone-for-a-500-million-investment-empire">net worth is around $500 million</a>, and his business portfolio is stacked with <a href="https://www.benzinga.com/personal-finance/25/03/44207096/shaq-said-his-krispy-kreme-store-was-likely-burned-down-by-homeless-trying-to-stay-warm-im-not-gonna-be-putting-charges-on-homeless-people">everything from Krispy Kreme and Papa John's</a> to car washes and fitness centers.
But Shaq's brand isn't just about owning franchises — it's about backing brands that connect with everyday people. His strategy? Invest in businesses that change lives. He once said he <a href="https://www.benzinga.com/personal-finance/25/03/44068159/nba-legend-shaq-says-his-net-worth-quadrupled-once-he-took-note-from-jeff-bezos-and-started-investing-in-things-that-change-peoples-lives">took that cue from Amazon founder Jeff Bezos</a>. He looks for companies that offer real value to real people — and that's helped turn him from an NBA legend into a franchise juggernaut.
Shaq may not have known much about burgers, but he's mastered the business of betting on people.
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Image: Shutterstock

Shaq Owned 155 Five Guys But Had No Clue How To Run Them — So He Turned To A McDonald's Manager Who Hooked Him Up During His NBA Days Into A Partner

The International Monetary Fund has reportedly urged the United States to rein in its growing fiscal deficit and rising public debt as concerns mount over former President Donald Trump&#8217;s proposed <a target="_blank" href="https://www.benzinga.com/government/regulations/25/04/44926902/imf-slashes-us-growth-outlook-as-trump-tariffs-bite-raises-recession-odds-to-40" rel="noreferrer noopener">extension of tax cuts.</a>
In a recent interview <a href="https://www.ft.com/content/7189e6fc-8bc9-40dc-85de-bd5c2da22988">with </a>the Financial Times, Gita Gopinath, the IMF&#8217;s First Deputy Managing Director, emphasized the need for the U.S. to adopt more sustainable fiscal policies in light of deteriorating credit ratings and mounting debt obligations.
Gopinath described the country&#8217;s budget shortfalls as &#8220;too large&#8221; and warned that debt-to-GDP levels—now approaching 98%—were on an unsustainable trajectory, the report adds.
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A decade ago, this figure stood at 73%, according to the Congressional Budget Office.
Her remarks followed a downgrade from Moody&#8217;s, which removed the U.S.&#8217;s final AAA credit rating due to debt concerns.
The rating agency projected that Trump&#8217;s push to prolong his 2017 tax cuts would increase the federal deficit from 6.4% in 2023 to nearly 9% by 2035, if implemented.
Scott Bessent, the Treasury Secretary, downplayed Moody&#8217;s action, calling it a &#8220;lagging indicator.&#8221;
He blamed the fiscal imbalance on the previous administration and reaffirmed the current administration&#8217;s commitment to deficit reduction, targeting a 3% deficit by the end of Trump&#8217;s term.
Despite recent easing in U.S.-China tariffs, Gopinath warned that trade policy uncertainty remains elevated.
She welcomed temporary pauses but noted that the effective tariff rate remains significantly higher than a year ago, adding that the long-term economic effects have yet to play out in the data.
The IMF recently trimmed its 2025 U.S. growth outlook to 1.8% and revised global growth expectations down to 2.8%, partially in response to ongoing trade friction and fiscal policy ambiguity.
Trump continues to push House Republicans to support his tax package, arguing that failure to do so would result in higher tax bills for voters. However, critics warn that the plan risks further straining government finances and eroding market confidence.
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IMF Sounds Alarm On US Debt As Trump Eyes Tax Cut Extension: Report

Errol Musk, father of Tesla Inc. CEO Elon Musk, has expressed his willingness to expand his family, regardless of his age.
Errol Musk, in&nbsp;an interview, stated, &#8220;Any man — that I&nbsp;know of anyway — very&nbsp;happily, if he finds the&nbsp;right girl, would have another&nbsp;child. It doesn&#8217;t matter if&nbsp;he&#8217;s 90, 20, 50 —&nbsp;doesn&#8217;t matter what age. I&nbsp;mean, that&#8217;s what we&#8217;re built&nbsp;for — that&#8217;s what we&#8217;re&nbsp;made for.&#8221;
Errol Musk, who has seven acknowledged children, including three with Elon&#8217;s mother, Maye Musk, also has two children with his former stepdaughter Jana Bezuidenhout. During <a href="https://www.businessinsider.com/elon-musk-father-errol-musk-have-more-kids-young-woman-2023-9">the</a> interview, he clarified that their relationship began when she was an adult, after his marriage to her mother.
On the subject of expanding his family, 78-year-old Errol stated, &#8220;So if a woman came&nbsp;along who was able to&nbsp;have children, she&#8217;d have to&nbsp;be under 35 because a&nbsp;woman&#8217;s cutoff for having children&nbsp;is 35, believe it or&nbsp;not. But&nbsp;if she&#8217;s under 35 and&nbsp;I loved her and everything,&nbsp;I wouldn&#8217;t think twice about&nbsp;having another child, of course.&#8221;
Also Read: <a href="https://www.benzinga.com/general/social-media/25/05/45600798/mtg-picks-a-fight-with-elon-musks-ai-chatbot-grok-is-left-leaning-and-continues-to-spread-fake-news-and-propaganda">MTG Picks a Fight With Elon Musk&#8217;s AI Chatbot: &#8216;Grok Is Left Leaning and Continues To Spread Fake News and Propaganda&#8217;</a>
He&nbsp;also touched upon the financial&nbsp;implications&nbsp;of having children at his&nbsp;age, emphasizing the importance of ensuring&nbsp;their well-being after his time&nbsp;has passed.
Errol Musk&#8217;s openness about expanding his family despite his age reflects a broader societal trend of older individuals considering parenthood. 
His comments also highlight the importance of financial planning for potential future children, particularly for older parents. 
This news comes amidst ongoing public interest in the personal lives of high-profile individuals like the Musk family.
Read Next
<a href="https://www.benzinga.com/news/23/09/34717151/elon-musk-was-concerned-over-dad-errols-inappropriate-behaviour-towards-minor-stepsister-biography" target="_blank" rel="noreferrer noopener">Elon Musk Was Concerned Over Dad Errol&#8217;s &#8216;Inappropriate Behaviour&#8217; Towards Minor Stepsister: Biography</a>
Image: Shutterstock/cristiano barni

Social Media

Elon Musk's Father Open to More Children Despite Age: 'I Wouldn't Think Twice About Having Another Child'

Amazon founder Jeff Bezos has been noticeably missing from local events in his upscale Seattle neighborhood, Hunts Point.
Bezos, who is the world&#8217;s second-richest man, relocated to the affluent area in 2019, buying a waterfront estate worth $37.5 million. 
Despite his high-profile status, Bezos has been notably absent from community events such as&nbsp;Cleanup Day, the Fourth of&nbsp;July celebration, and local charity fundraisers.
According to a report <a href="https://www.businessinsider.com/jeff-bezos-neighbors-hunts-point-seattle-real-estate-2023-12?utm_medium=social&amp;utm_campaign=business-sf&amp;utm_source=facebook&amp;fbclid=IwAR2_bI6F_vMCKDzK6V7heqE7U9546Pz_vBesxFdrYBEhU3_kn9KGqpNjDGo">by</a> Insider, while Bezos himself has been largely invisible, his staff members have become familiar faces in the neighborhood. His chef and security personnel are well-known to the residents, who have noticed the increased security presence.
Nevertheless, Bezos&#8217; absence has been felt in the close-knit community. Residents commented on his lack of involvement in community activities. Despite this, Bezos has made donations to a local charity, Bellevue Lifespring.
Also Read: <a href="https://www.benzinga.com/tech/25/04/44780229/decoding-jeff-bezos-unique-amazon-interview-question-a-key-to-hiring-success">Decoding Jeff Bezos&#8217; Unique Amazon Interview Question: A Key To Hiring Success?</a>
One resident told the Insider, &#8220;Jeff Bezos acts like he owns Hunts Point.&#8221; &#8220;He&#8217;s not much of a neighbor,&#8221; another resident said. &#8220;He&#8217;s so busy with all this national stuff.&#8221; 
Earlier in 2024, Bezos announced that he would be leaving Seattle&nbsp;to make Miami his primary&nbsp;residence. His departure comes after four years in Hunts Point, characterized mainly by his absence.
Bezos&#8217; absence from community events in Hunts Point, despite his high-profile status and the presence of his staff, has been noted by residents. 
His departure for Miami marks the end of a four-year period in the affluent Seattle neighborhood, during which he was largely unseen but still made contributions to local charities.
<a href="https://www.benzinga.com/news/24/01/36631415/this-amazon-applicants-interview-answer-earned-her-a-seat-3-feet-away-from-amazons-bezos" target="_blank" rel="noreferrer noopener">This Amazon Applicant&#8217;s Interview Answer Earned Her A Seat 3 Feet Away From Jeff Bezos</a>
Image: Shutterstock/Photo Agency

Entertainment

Jeff Bezos Called Out in Hunts Point: 'Acts Like He Owns Hunts Point,' 'Not Much of a Neighbor,' 'Busy With National Stuff'

Mark Cuban, the former owner of the Dallas Mavericks, once said that NBA players coming out as gay could see a significant increase in their income.
What Happened: Cuban, a billionaire entrepreneur, proposed once that NBA players who openly identify as gay could reap substantial financial benefits.
The context of his comments was the case of John Amaechi,&nbsp;the first former NBA player&nbsp;to publicly come out as&nbsp;gay in 2007. Cuban <a href="https://www.espn.in/nba/news/story?id=2762656">suggested</a> a few years back,&nbsp;&#8220;If you&#8217;re a player who&nbsp;happens to be gay and&nbsp;you want to be incredibly&nbsp;rich, then you should come&nbsp;out,&#8221; according to ESPN.
Cuban, who has a reputation for transforming small ideas into big successes, elaborated that coming out could enhance a player&#8217;s earnings from a marketing and endorsement standpoint. 
He stated,&nbsp;&#8220;You would be an absolute&nbsp;hero to more Americans than&nbsp;you can ever possibly be&nbsp;as an athlete, and that&#8217;ll&nbsp;put money in your pocket.&#8221;
Also Read: <a href="https://www.benzinga.com/news/25/04/44780380/mark-cuban-gets-real-about-what-it-takes-to-get-rich-even-when-i-was-dead-broke-sleeping-on-the-floor-i-was-having-fun">Mark Cuban Gets Real About What It Takes To Get Rich: &#8216;Even When I Was Dead Broke Sleeping on the Floor, I Was Having Fun&#8217;</a>
However, he also cautioned about the repercussions of intolerance, asserting that those who respond negatively to someone&#8217;s sexual orientation risk tarnishing their reputation and missing out on business opportunities.
Despite emphasizing the business aspect, Cuban acknowledged Amaechi&#8217;s bravery, saying,&nbsp;&#8220;When you do something that&nbsp;the whole world thinks is&nbsp;difficult and you stand up&nbsp;and just be who you&nbsp;are and take on that&nbsp;difficulty factor, you&#8217;re an American&nbsp;hero no matter what.&#8221;
Cuban&#8217;s comments come at a time when discussions around diversity and inclusion in sports are gaining momentum. His perspective offers a fresh angle, highlighting the potential financial benefits for athletes who come out, alongside the societal impact. 
This could encourage more open conversations about sexuality in sports, promoting inclusivity and acceptance.
Read Next
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Image: Shutterstock/Zero99

Sports

Mark Cuban Once Suggested Gay NBA Players Could Profit: 'If You're a Player Who Happens To Be Gay and Want To Be Incredibly Rich, Then You Should Come Out'

A Texas lottery player has taken legal action against the&nbsp;Texas Lottery Commission&nbsp;for withholding her $83.5 million jackpot, which she won through an online ticket purchase via a third-party courier.
What Happened: The unidentified woman filed the lawsuit on Wednesday, three months after the Feb. 17 Lotto Texas drawing. She utilized the Jackpocket Lottery app to purchase $20 worth of tickets from a licensed retailer in North Austin.
The winning numbers for the draw were 19, 21, 25, 45, 47, and 52. The woman tried to claim her prize from the Texas Lottery Commission on March 18 but has yet to receive her winnings. She maintains that her ticket was correctly validated by the commission, affirming her as the rightful winner of the jackpot.
As per the lawsuit neither the commission nor anyone representing it has indicated that the winning ticket is invalid or fraudulently obtained, <a href="https://www.kvue.com/article/news/local/lottery-winner-sues-texas-lottery-commission-executive-director-unpaid-ticket-lotto/269-1b3df8cf-e53a-49d8-9bbf-3dcd6dbdc741">reports</a> KVUE.
The woman alleges that the commission is withholding her winnings on the grounds that her method of play, using a third-party courier, was deemed &#8220;illegal.&#8221;
Also Read: <a href="https://www.benzinga.com/news/23/06/32853534/this-millennial-ditched-us-for-bali-with-zero-savings-now-lives-in-luxury-on-140k-a-year">This Millennial Ditched US For Bali With Zero Savings, Now Lives In Luxury On $140K A Year</a>
The Texas Lottery Commission has recently suggested a prohibition&nbsp;on couriers from state lottery&nbsp;drawings, citing concerns about fairness and integrity. The commission has expressed concerns&nbsp;that most couriers and the&nbsp;licensed retailers they collaborate with&nbsp;are based in the same&nbsp;location.
The Jackpocket app is a property of sports betting company DraftKings. The Texas Lottery Commission has been the subject of multiple investigations from the state attorney general&#8217;s office, and its executive director, Ryan Mindell, stepped down on April 21.
Why It Matters: This lawsuit comes at a time when the Texas Lottery Commission is already under scrutiny from the state attorney general&#8217;s office. 
The proposed&nbsp;ban on couriers from state&nbsp;lottery drawings and the recent resignation of its executive director add to the complexity of the situation.
The outcome of this lawsuit could potentially impact the future of online lottery ticket purchases and the role of third-party couriers in the process.
Read Next
<a href="https://www.benzinga.com/news/24/01/36631415/this-amazon-applicants-interview-answer-earned-her-a-seat-3-feet-away-from-amazons-bezos" target="_blank" rel="noreferrer noopener">This Amazon Applicant's Interview Answer Earned Her A Seat 3 Feet Away From Jeff Bezos</a>
Image: Shutterstock/Jmcanally

Texas Woman Takes Legal Action After Three-Month Wait for $83.5 Million Lottery Prize

Matthew Zorn, an attorney known for suing the federal government over <a href="https://www.benzinga.com/cannabis">cannabis and psychedelics policy</a>, is now joining it.
Zorn has been appointed Deputy General Counsel at the U.S. Department of Health and Human Services (HHS) under Secretary Robert F. Kennedy Jr., with a focus on psychedelics policy, according to two sources cited by <a class="" href="https://www.marijuanamoment.net/lawyer-who-sued-federal-health-agency-to-release-marijuana-documents-now-works-there-with-focus-on-psychedelics/">Marijuana Moment's Kyle Jaeger</a>. The outlet also reported that Zorn is being referred to internally as the department's "psychedelics czar." The hiring was further confirmed by <a href="https://x.com/natsfert/status/1926039985607602501">Politico reporter Natalie Fertig</a>, who also cited two sources familiar with the matter.
<h3 class="wp-block-heading">Why This Matters</h3>
Zorn's legal work has made headlines in recent years for helping push forward federal drug policy reform. He successfully sued HHS to release its 2023 scientific review recommending the reclassification of marijuana from Schedule I to Schedule III, a pivotal moment in the current rescheduling effort.
He has also represented physicians and terminal patients in litigation against the Drug Enforcement Administration (DEA), seeking federal permission to access psilocybin therapy under Right to Try laws. While courts have thus far sided with the DEA in that case, the litigation helped elevate national awareness of the issue.
Zorn's transition from courtroom adversary to federal policymaker is significant, especially at a time when top officials in the Trump administration are signaling growing support for psychedelics research, particularly for veterans facing PTSD and traumatic brain injury.
According to Marijuana Moment, the new administration has made psychedelic-assisted therapy a clear priority:
<ul class="wp-block-list">
<li>The FDA recently stated that exploring the therapeutic potential of psychedelics such as psilocybin and ibogaine is a "top priority."</li>
<li>VA Secretary Doug Collins said during a congressional hearing that his agency is seeing "positive outcomes" from psychedelic therapy studies, and is exploring the use of vouchers for veterans to access treatment outside the VA system.</li>
<li>RFK Jr. himself has previously called for legalizing psychedelics in therapeutic settings and using tax revenue to fund recovery programs.</li>
</ul>
<h3 class="wp-block-heading">Tuesday Watchlist: Psychedelics Stocks And ETFs</h3>
With markets closed on Monday for Memorial Day, investors will be watching Tuesday's trading session for potential movement in psychedelics-linked equities following this regulatory development.
Here are key stocks and ETFs to watch:
<ul class="wp-block-list">
<li>Compass Pathways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>)</li>
<li>MindMed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNMD#NASDAQ">MNMD</a>)</li>
<li>Cybin Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYBN#NYSE">CYBN</a>)</li>
<li>Atai Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATAI#NASDAQ">ATAI</a>)</li>
<li>Seelos Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEEL#NASDAQ">SEEL</a>)</li>
<li>The AdvisorShares Psychedelics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSIL#NYSE">PSIL</a>)</li>
</ul>
<h3 class="wp-block-heading">What's Next?</h3>
While Zorn's new role does not automatically translate into regulatory change, it represents a clear shift: someone with a history of challenging government secrecy and opposing agency decisions is now in a position to help steer policy from within.
His appointment may bolster investor confidence in the long-term legitimacy of psychedelic-assisted therapy, particularly as the Trump administration continues to frame these treatments as potential lifelines for military veterans and trauma survivors.
Benzinga will continue monitoring regulatory updates, litigation outcomes and biotech developments in the psychedelic space.
Photo: Shutterstock

Cannabis

Psychedelics

ATAI

CMPS

CYBN

MNMD

PSIL

SEEL

Ex-Gov't Foe Joins Trump, RFK Jr.'s HHS To Lead Psychedelics Policy: What It Means For Investors

When Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk joined President Donald Trump's Department of Government Efficiency, he <a href="https://www.yahoo.com/news/elon-musk-and-doge-promised-up-to-2-trillion-in-government-savings-how-much-have-they-actually-saved-so-far-201718142.html">vowed</a> to cut up to $2 trillion in costs and made waves by <a href="https://apnews.com/article/doge-firings-layoffs-federal-government-workers-musk-d33cdd7872d64d2bdd8fe70c28652654">announcing </a>thousands of layoffs and major contract cancellations. But as he remained in the spotlight with his high-profile role at the White House, Tesla began to struggle.
Tesla deliveries in the first quarter <a href="https://www.cnbc.com/2025/04/02/tesla-tsla-q1-2025-vehicle-delivery-and-production-numbers.html">plunged</a> 13%, while the EV maker saw its market share in Europe<a href="https://eu-evs.com/marketShare/ALL/Brands/Bar/All-time-by-Quarters"> fall</a> to under 9% in the three-month period from about 18% last year. It suffered a double-digit market sales <a href="https://www.cnbc.com/2025/04/02/tesla-china-made-ev-sales-fall-11point5percent-in-march-as-competition-rises.html">decline</a> in China in March amid tough competition. Tesla shares are down 12% so far this year.
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Amid increasing investor concerns and business headwinds at Tesla, Musk announced in the Q1 2025 <a href="https://seekingalpha.com/article/4777030-tesla-inc-tsla-q1-2025-earnings-call-transcript">earnings call</a> that his time at DOGE will see a "significant" drop starting in May.
Talking to a group of reporters at the White House last month, Musk <a href="https://www.nbcnews.com/politics/doge/sleepovers-late-night-ice-cream-elon-musk-white-house-exit-rcna203975?utm_source=flipboard&amp;utm_content=NBCNews%2Fmagazine%2FTop+Stories">said</a> his first three months at DOGE were "intense" and he now plans to return to "primarily running my companies."
Musk spoke candidly during the conversation, recalling his early days working in his government role. Musk said he stayed in the White House's Lincoln Bedroom "more than once" at Trump's invitation when he arrived late in Washington.
&#8220;He was like: &#8216;Where are you staying?&#8217; I was like: &#8216;I don&#8217;t know. At a friend&#8217;s house, I guess'&#8221; Musk <a href="https://www.axios.com/2025/05/01/elon-musk-doge-interview">said</a>. "And then he was like: &#8216;Why don&#8217;t you stay here?&#8217; I was like: &#8216;Sure.'&#8221;
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
During his talk with reporters, Musk referred to Trump as a "good friend" and recalled the president's late-night ice cream invitations.
"He'll actually call late at night and say, ‘Oh, by the way, make sure you get some ice cream from the kitchen,'" Musk said, noting that Trump would jokingly add, "Don't tell RFK," referring to US Department of Health and Human Services Secretary Robert F. Kennedy Jr.
<h2 class="wp-block-heading">Playing Diablo in ‘Comically Tiny' Office</h2>
Musk said that he was assigned a "comically tiny" office on the top floor of the West Wing, with no view and a "glimmer" of sunlight.&nbsp;
&#8220;It has a view of nothing,&#8221; he said. &#8220;It has a window but all you see is the HVAC unit, which is fine. It makes it harder to shoot me, I guess. There&#8217;s not a good line of sight.&#8221;
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
Musk said he had a large monitor connected to his computer on which he'd occasionally play two of his favorite video games — Diablo and Path of Exile.
<h2 class="wp-block-heading">‘A Way of Life'</h2>
Musk said he was confident that DOGE could run without his daily involvement.
"It's a way of life, like Buddhism," Musk said when asked who'd lead DOGE after him. "You wouldn't ask who would lead Buddhism."
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<li>Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>. </li>
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Image: Shutterstock

TSLA

Elon Musk Recalls 'Intense' 3 Months At DOGE: Trump's Late-Night Ice Cream Invites, Lincoln Bedroom Sleepovers And Diablo

President Donald Trump has reignited trade tensions by demanding that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) produce its iPhones domestically if the <a href="https://www.benzinga.com/25/05/45599904/trump-confirms-25-tariff-on-samsung-and-other-companies-making-smartphones-outside-the-us" target="_blank" rel="noreferrer noopener">devices are to be sold in the United States</a>.
In a post on Truth Social Friday, the former president warned that iPhones manufactured abroad—specifically in India—could face a steep import tax of at least 25%. This move could significantly reshape the tech giant&#8217;s global supply chain.
Gene Munster, Managing Partner at Deepwater Asset Management, addressed the economic impact of such a tariff in a <a target="_blank" href="https://x.com/munster_gene/status/1925999154959892482?s=46&amp;t=ULQgdjrI963eH_sS6HFNXw" rel="noreferrer noopener">post </a>on X.
See Also:&nbsp;<a target="_blank" href="https://benzinga.com/markets/cryptocurrency/25/05/45581129/trump-gala-dinner-saw-president-wine-and-dine-top-memecoin-holders-as-protestors-flashed-don-the-con-signs-exclusive" rel="noreferrer noopener">Trump Gala Dinner Saw President Wine And Dine Top Memecoin Holders As Protestors Flashed ‘Don The Con' Signs — Exclusive – Benzinga</a>
&#8220;The market appears to be miscalculating the impact of an iPhone 25% tariff,&#8221; Munster cautioned in his post.
He noted that a 25% tax on the import cost of an iPhone—typically around $560—would translate to a retail hike of about $140.
That would bring the average U.S. iPhone price from $970 to approximately $1,110, a 14% jump.
According to Munster, most consumers wouldn&#8217;t feel the full brunt of the increase due to installment-based contracts.
He estimated that the added monthly cost could range from $4 to $6.
&#8220;That increase of $140 is 80% of the time, spread out over 24 or 36 months via carrier contract. That means the price for the average iPhone buyer would increase by only $4 to $6 a month,&#8221; Munster writes.
However, if Apple were to absorb the tariff, its gross margins could dip from 44% to 41%.
Separately, Munster warned last week that OpenAI could pose the most serious<a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45560144/apple-faces-first-serious-threat-in-20-years-as-openai-acquires-iphone-makers-former-design-chief-jony-ives-hardware-startup-says-gene-munster" rel="noreferrer noopener"> competitive threat to </a><a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45560144/apple-faces-first-serious-threat-in-20-years-as-openai-acquires-iphone-makers-former-design-chief-jony-ives-hardware-startup-says-gene-munster" rel="noreferrer noopener">Apple</a><a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45560144/apple-faces-first-serious-threat-in-20-years-as-openai-acquires-iphone-makers-former-design-chief-jony-ives-hardware-startup-says-gene-munster" rel="noreferrer noopener"> in two decades.</a>
He referenced the AI firm&#8217;s $6.5 billion acquisition of the hardware venture started by former Apple design lead Jony Ive as a pivotal moment that could impact Apple&#8217;s future dominance in consumer tech.
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Image: Shutterstock/Sunil prajapati

AAPL

$4 A Month? Gene Munster Unpacks Trump's iPhone Tariff Math - Says 'Market Appears To Be Miscalculating the Impact'

Millions of people around the world will watch the Indianapolis 500 race on Sunday, May 25. Cryptocurrency investors and fans, especially those who like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) may have more reasons to tune into this year's race.
2025 Indianapolis 500:<a href="https://www.benzinga.com/markets/cryptocurrency/21/06/21613689/doge-car-returns-to-nascar-how-to-get-merchandise-and-bet-on-the-car-to-win"> Cars in NASCAR</a> and other racing leagues have been adorned with versions of the iconic Shiba Inu logo used by Dogecoin and on Sunday, fans watching the Indianapolis 500 will see the Dogecoin logo on Devlin DeFrancesco's car.
The number 30 car from Rahal Letterman Lanigan Racing qualified 16th and will be one of the many cars trying to win the Indianapolis 500.
The race kicks off at 12:30 p.m. ET on Sunday, May 25, and will be covered on FOX, a unit of Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>).
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/21/12/24814327/2021-was-the-year-of-dogecoin-a-month-by-month-retrospective-with-top-stories">2021 Was The Year Of Dogecoin: A Month By Month Retrospective With Top Stories</a>
Betting Odds: DeFrancesco has five starts for IndyCar in the 2025 season and 39 career <a href="https://www.indycar.com/Drivers/Devlin-DeFrancesco">starts</a>. The driver has never won a race and does not have any top-10 finishes.
DeFrancesco has raced in the Indianapolis 500 twice, with his best finish being 13th in 2023. The driver improved on his starting position in each of those two races.
The Dogecoin ambassador has odds of +10,000 to win the Indianapolis 500 at sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>). This means a $1 bet would pay out a profit of $100 if DeFrancesco wins the race.
Bettors can also wager on a top-two finish (+4,000), top-three finish (+2000), or top-five finish (+1,300).
The favorites to win the race are Pato O'Ward (+500), Alex Palou (+550) and Scott Dixon (+800). Josef Newgarden, who has won the last two Indianapolis 500 races and could become the first three-time consecutive winner, is listed with the seventh-best odds at +950.
Crypto bettors can also place wagers on prediction markets like <a href="https://polymarket.com/event/2025-indy-500-winner?tid=1748030326438">Polymarket </a>and <a href="https://kalshi.com/markets/kxindy500/indy-500-winner">Kalshi</a>.
On Polymarket, DeFrancesco has a 1% chance of winning the race, with Palou and O&#8217;Ward the favorites at 17% and 16%, respectively.
On Kalshi, DeFrancesco is listed with a 1% chance of winning the race, with O&#8217;Ward and Palou the favorites at 18% and 17%, respectively.
About DeFrancesco: The race car driver was <a href="https://dogecoin.org/blog/2025-05-07-devlin/">born </a>15 weeks premature and weighed only one pound with a small chance of living. Overcoming significant odds at life and becoming a professional race car driver, DeFrancesco has lived by the motto "Born fast."
"It's a miracle we still don't fully comprehend," DeFrancesco said.
DeFrancesco's parents said their son couldn't sit still in his early years. A commercial featuring racing legend Mario Andretti prompted DeFrancesco to love racing from the age of 6.
The racer worked his way up to IndyCar through various other racing leagues. He also demonstrated a passion for other drivers and the embodiment of the "Do Only Good Everyday &#8221; philosophy, which Dogecoin is known for today.
Dogecoin Sponsorship: The number 30 Honda car will feature a fan-voted design, and Dogecoin will be one of the main sponsors of the vehicle in the race.
The Dogecoin Foundation is named a corporate partner for the car, and the House of Doge also sponsors the vehicles. DeFrancesco's firesuit features the Dogecoin logo.
"Dogecoin's about community and defying expectations. That's my race, too, where the finish line is the moon!" DeFrancesco said.
The race car driver credits his brother with helping him invest in Dogecoin in 2020. DeFrancesco, who loves dogs and believes in the "Do Only Good Everyday" mantra, was impressed by the Dogecoin community.
"It's more than a currency – it's a community that lifts everyone up."
Beyond the sponsorship, DeFrancesco also receives a portion of his salary in Dogecoin, becoming the first professional race car driver to do so.
"I first invested in Dogecoin in 2020 and drove everyone crazy, telling anyone who would listen that they needed to own it."
The driver has also teamed up with the Dogecoin Foundation and House of Doge to make donations to a charity close to his heart. DeFrancesco supports the Riley Hospital for Children, a pediatric research hospital in Indiana.
"Riley's is giving children like me a fighting chance. Now it's my turn to help others cross their finish line."
DeFrancesco has encouraged fans to donate to the children's hospital and will be auctioning off his helmet from the race, featuring the Dogecoin logo, with proceeds going to the hospital.
With the Dogecoin community rallying behind DeFrancesco, the number 30 Honda may have a little extra support in this year's Indianapolis 500.
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Dogecoin Car To Race In Indianapolis 500: How To Watch, Bet On Driver Devlin DeFrancesco

A house in the vicinity of President Donald Trump&#8216;s Mar-a-Lago estate&nbsp;in Palm Beach, Florida, is&nbsp;up for sale at a price 32 times higher than its original purchase price.
What Happened: A home on Algoma Road&nbsp;was listed for sale at $12.5 million, a significant increase from the $385,000 it was bought for in 1981. The 1981 price is equivalent to approximately $1,328,610 today, according to&nbsp;the American Institute for Economic&nbsp;Research&#8217;s cost-of-living calculator.
The house, built in 1952, spans 2,493 square feet and is situated&nbsp;on a third of an&nbsp;acre. It features four bedrooms and four bathrooms. 
The property was last purchased by Joyce Vaughn and her late husband, management-consulting executive Clother Hathaway Vaughn III, as per Palm Beach County tax rolls, which was reported <a href="https://www.palmbeachdailynews.com/story/business/real-estate/2025/05/21/new-listing-of-house-in-trump-mar-a-lago-security-zone-is-possible-tear-down-palm-beach-florida/83752437007/">by</a> The Palm Beach Daily News.
The property also boasts a private pool and is located&nbsp;within the secured Presidential Security&nbsp;Zone,&nbsp;overseen by the U.S. Coast&nbsp;Guard. The house is approximately&nbsp;250 feet away from deeded&nbsp;beach access and is described as offering a &#8220;unique island lifestyle combined with&nbsp;a truly elite level of&nbsp;privacy.&#8221;
Also Read: <a href="https://www.benzinga.com/tech/24/12/42714387/tech-titans-warm-up-to-donald-trump-who-says-everybody-wants-to-be-my-friend-claims-bill-gates-asked-to-come-to-mar-a-lago">Tech Titans Warm Up To Donald Trump, Who Says &#8216;Everybody Wants To Be My Friend,&#8217; Claims Bill Gates Asked To Come To Mar-a-Lago</a>
The listing agent,&nbsp;Margit Brandt of Premier Estate&nbsp;Properties, stated that the property&nbsp;presents a special opportunity for&nbsp;a buyer to build their&nbsp;dream home in one of&nbsp;the most exclusive locations in the world.
Why It Matters: The listing of this property at such a high price point underscores the increasing value of real estate in the Palm Beach area, particularly in the vicinity of the Mar-a-Lago estate. 
The property&#8217;s location within the Presidential Security Zone adds to its exclusivity and appeal, offering a level of security and privacy that is highly sought after in today&#8217;s market. 
The potential&nbsp;for a buyer to build&nbsp;their dream home in such a prestigious location further enhances the property&#8217;s appeal and justifies its high listing price.
Also Read: <a href="https://www.benzinga.com/news/23/07/33108839/donald-trumps-former-press-secretary-says-she-saw-trump-showing-classified-documents-to-mar-a-lago-g">Donald Trump&#8217;s Former Press Secretary Says She Saw Trump Showing Classified Documents To Mar-A-Lago Guests</a>
Image: Shutterstock/Bill Perry

Real Estate

Trump's Mar-a-Lago Neighbor Lists Home for $12.5 Million — 32 Times Original Price

Kim Jong Un may face an embarrassing naval setback after fresh satellite images revealed the warship that toppled over at a North Korean shipyard earlier this week, <a href="https://www.benzinga.com/markets/25/05/45561048/kim-jong-un-blasts-officials-after-north-koreas-new-destroyer-tips-over-at-launch-event-criminal-act" target="_blank" rel="noreferrer noopener">an incident he reportedly witnessed firsthand</a>.
The photos, captured in recent days, show the vessel tilted on its side and partially covered in blue tarps at the port city of Chongjin.
Part of the hull appears to rest on dry land following the failed launch attempt, BBC <a target="_blank" href="https://www.bbc.com/news/articles/cx2qgdnxxe2o" rel="noreferrer noopener">reports</a>.
North Korea's state-run agency, KCNA, acknowledged the mishap. Kim called it the result of "absolute carelessness" and "unscientific empiricism," BBC adds.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/25/05/45599817/apple-would-rather-absorb-a-25-iphone-tariff-than-move-production-to-the-us-says-analyst-no-guarantee-they-wont-face-repeated-tariff-threats-during-his-term" rel="noreferrer noopener">Apple Would Rather Absorb A 25% iPhone Tariff Than Move Production To The US, Says Analyst: &#8216;&#8230;No Guarantee They Won&#8217;t Face Repeated Tariff Threats During His Term&#8217;</a>
The leader branded the accident a "criminal act" and ordered an investigation to identify those responsible.
He warned that accountability will be addressed during a plenary meeting scheduled next month.
While no injuries have been reported, KCNA stated that the damage is localized. Officials claim there were no breaches to the bottom of the ship, although scratches on the starboard side and minor water entry through a rescue passage were confirmed.
The vessel is expected to be repaired within 10 days, according to the agency.
Hong Kil Ho, the manager of the Chongjin shipyard, has reportedly been taken in for questioning by authorities.
The government has not disclosed what penalties those involved might face, but North Korea's human rights record and history of severe punishment raise serious concerns.
This accident occurred just weeks after Pyongyang debuted a similar 5,000-ton destroyer, which Kim had praised as a "breakthrough" in naval modernization.
That ship, part of the Choe Hyon-class, was slated to enter active service early next year. The incident has cast a shadow over those ambitions.
It's rare for the North to publicly admit to domestic blunders, but this event highlights the challenges in its push to revamp its military capabilities and the risks that come with rushed defense milestones.
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