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COGENT BIOSCIENCES INC

Cogent Biosciences

Cogent Biosciences Inc a biotechnology company focused on developing precision therapies for genetically defined diseases. It designs rational precision therapies that treat the underlying cause of disease and improve the lives of patients. Its program CGT9486, is a selective tyrosine kinase inhibitor designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. In the vast majority of cases, KIT D816V is responsible for driving Systemic Mastocytosis (SM), a serious disease caused by the unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors (GIST), a type of cancer with dependence on oncogenic KIT signaling.

Cogent Biosciences Inc

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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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.
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>
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;
Read Next:&nbsp;
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A Millennial Asked, 'Do You Personally Know Any Millennial Millionaires?' Turns Out, They're All Around Us—As It Should Be

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.
Read Next
<a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/45940589/ray-dalio-shares-his-meme-stock-trading-strategy-most-investors-dont-take-into-consideration-market-pricing-they-dont-pay-enough-attention-to-its-pricing" target="_blank" rel="noreferrer noopener">Ray Dalio Shares His Meme Stock Trading Strategy: ‘Most Investors Don't Take Into Consideration Market Pricing, They Don't Pay Enough Attention To Its Pricing'</a>
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Ray Dalio Forecasts 'Big, Painful Disruptions' as US National Debt Set To Swell Over Next Decade

When a listener named Laura wrote into the "<a href="https://omny.fm/shows/suze-ormans-women-and-money/ask-kt-suze-anything-throwing-money-at-a-problem-does-not-always-solve-it">Women &amp; Money</a>" podcast with a complicated family dilemma, Suze Orman didn't hesitate to break it down. The story involves a 72-year-old woman, recently divorced, who now works full time in a Montessori school just to get by. But the financial fallout extends beyond her personal situation — it's rippling through the entire family.
<h2 class="wp-block-heading">A Retirement Lost to a Risky Gamble</h2>
A listener, Laura, wrote into Orman's show and shared that her 72-year-old sister-in-law recently emptied out her entire retirement account to support her son's efforts to become a day trader — a gamble that failed. Not only did this leave her <a href="https://www.benzinga.com/personal-finance/management/25/06/45719038/how-this-investor-went-from-being-50-years-old-with-no-savings-to-a-comfortable-retirement-at-65">without savings</a>, but it also triggered unexpected tax consequences, which further complicated her financial position.
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Now, at an age when many are winding down their careers — if not fully retired already — she's working full time and living in a one-bedroom apartment. To help her make ends meet, Laura and other family members contribute $1,000 a month.
<h2 class="wp-block-heading">Meanwhile, the Ex-Husband Is Living Large</h2>
Here's where it gets even more complex: Laura's brother — the woman's ex-husband — has moved on. He's remarried and owns homes in multiple cities, including Rio de Janeiro and Chicago, and is considering buying a third property with another sibling.
While he meets the minimum requirements of his divorce settlement, Laura feels that he is neglecting a moral responsibility to help his former spouse, especially given her vulnerable position. This has led to tension within the family — and between Laura and her own husband, who is content to continue providing financial support without raising concerns.
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">Orman's Take: Separate the Issues</h2>
Orman was quick to point out that this is really two separate problems: Laura's frustration with her husband, and the larger issue of her sister-in-law's <a href="https://www.benzinga.com/personal-finance/25/03/44348164/why-millions-of-americans-are-tapping-their-401k-savings-early">financial hardship</a>.
First, Orman encouraged Laura to be understanding of her husband's stance. He may be avoiding conflict, or he might not feel a deep connection to her brother and his ex-wife.&nbsp;
"If I were you, forget your husband in terms of him not wanting to do it," Orman said. "That&#8217;s fine. Understand that and don&#8217;t take it personally. It&#8217;s not damaging your relationship in reality. It&#8217;s just in your head."
<h2 class="wp-block-heading">The Bigger Problem: Why Aren't the Men Stepping Up?</h2>
The larger issue, Orman noted, centers on the ex-husband and the adult son — both of whom are absent from the woman's financial support system. Orman stressed that while the brother is legally in the clear, the emotional and ethical impact of his choices shouldn't be ignored.
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>
The woman emptied her retirement account to help her son. Orman asked, "Is he working and why isn't he helping her?"
Orman recommended that Laura have two separate, honest conversations: one with her brother and one with her nephew. With her brother, Orman advised sharing how painful it's been to watch his ex-wife struggle and asking, without blame, if he'd be willing to do more to help, even if the <a href="https://www.benzinga.com/news/entertainment/25/06/46107000/jeff-bezos-first-marriage-ended-in-a-38-billion-divorce-now-as-the-amazon-founder-plans-to-marry-lauren-sanchez-hes-reportedly-ring-fencing-his-233-billion-fortune">divorce agreement</a> doesn't require it.&nbsp;
With the nephew, Orman suggested asking whether he's financially stable and aware that the rest of the family is covering his mother's expenses — and what he plans to do to contribute to her care going forward.
<h2 class="wp-block-heading">A Family Matter That's Not Going Away</h2>
While the woman's financial struggles began with a divorce and a risky investment, her situation has become a family-wide issue. Orman's advice? Keep compassion at the center of every conversation, and don't be afraid to ask tough questions — especially to those who may not be pulling their weight.
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Divorce At 72 Leaves Woman Working Full Time To Make Ends Meet, But That's Not All - Suze Orman Weighs In

Aluminerie Alouette, Canada's largest aluminum smelter and a key supplier to the U.S. market, announced a CA$1.5 billion ($1.1 billion) investment in its northern Québec facilities. The firm, owned by a Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>)-led consortium, is making this commitment despite growing pressure from <a href="https://www.benzinga.com/topic/tariffs">U.S. tariffs</a> and global trade uncertainty.
"Today's announcement, which we have been working on for several months, paves the way for the coming decades for our current and future employees, our communities and our business partners," <a href="https://www.alouette.com/en/media/press-releases?id=3201&amp;pg=0">said</a> Claude Gosselin, President and CEO of Aluminerie Alouette.
"We sincerely appreciate the collaboration of the Quebec government and Hydro-Québec for their unwavering confidence in the essential role that primary aluminum plays in the economic vitality of both our region and the province," he added.
The investment follows a newly signed long-term power agreement with Hydro-Québec that will guarantee electricity supply through 2045. With an annual capacity of 630,000 metric tons, the Sept-Îles facility is critical to North American aluminum supply chains.
Owned by a consortium that includes Rio Tinto (40%), Hydro Aluminium (20%), AMAG Austria Metall (20%), Marubeni (13.33%), and QUALIUM (6.67%), Aluminerie Alouette employs around 950 people and represents the largest private employer in the region.
Aluminum produced in Québec is particularly important to the United States, which has only four operating primary aluminum smelters, which are insufficient for domestic needs. Canada supplies approximately 2.7 million metric tons of aluminum to the U.S. annually, supporting sectors from automotive and aerospace to food packaging. The U.S., however, has threatened tariffs of up to 50% on Canadian aluminum, a move widely criticized as counterproductive.
"The United States needs Quebec to meet its demand, especially since we produce 70% of all aluminum in North America," Quebec's Economy Minister Christine Frechette said, according<a href="https://www.bloomberg.com/news/articles/2025-07-02/rio-tinto-backed-aluminum-firm-to-invest-1-1-billion-in-canada-smelter"> to</a> Bloomberg. Still, with U.S. tariffs pushing Canadian aluminum out of the market, American manufacturers face <a href="https://www.benzinga.com/25/03/44338152/can-manufacturers-warn-about-tariffs-ask-for-targeted-relief">rising costs for essential goods</a>, while Canada&#8217;s producers look to Europe for alternative buyers.
The Canadian aluminum industry has taken steps to protect its market integrity, including supporting Finance Canada&#8217;s new import monitoring system and the "Country of Smelt and Cast" provisions designed to block unfair trade. Jean Simard, President of the Aluminium Association of Canada, <a href="https://www.benzinga.com/markets/commodities/25/06/45766967/us-aluminum-tariffs-risk-supply-chain-and-food-security-industry-insiders-warn">noted</a> that Canadian aluminum "is not—and will not be—a backdoor for unfair trade," pointing to Canada's leadership in traceability and sustainability.
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Financing

Commodities

Legal

Markets

Aluminerie Alouette to Invest $1.1 Billion in Major Canadian Aluminum Revamp

Author and investor Robert Kiyosaki, best known for his book &#8220;Rich Dad Poor Dad,&#8221; is once again sounding the alarm on what he sees as a major threat to the financial stability of millions: artificial intelligence.
<h2 class="wp-block-heading">AI Will &#8216;Cause Massive Unemployment&#8217;</h2>
In a July 1 <a href="https://x.com/theRealKiyosaki/status/1940127375217303621">post on X</a>, Kiyosaki called AI the &#8220;Biggest change in modern history&#8221; and warned that it will result in massive job losses, even for high-performing students. &#8220;AI will cause many &#8216;smart students&#8217; to lose their jobs,&#8221; he wrote. &#8220;AI will cause massive unemployment.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BIGGEST CHANGE in MODERN HISTORY AI will cause many "smart students" to lose their jobs. AI will cause massive unemployment. Many still have student loan debt. AI cannot fire me because I do not have a job. If you are in this category please take proactive action. Please do…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1940127375217303621?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
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He emphasized that those still <a href="https://www.benzinga.com/25/05/45260074/student-loan-debt-hits-1-77-trillion-dave-ramsey-blames-parents-not-policies-its-not-a-student-loan-crisis-we-have-a-parenting-crisis">carrying student loan debt</a> are especially vulnerable. &#8220;AI cannot fire me because I do not have a job,&#8221; Kiyosaki said, pointing to his own path as an entrepreneur.
Instead of following traditional advice like going to school, getting good grades, landing a job, and <a href="https://www.benzinga.com/money/types-of-alternative-investments">investing in a diversified portfolio</a>, Kiyosaki said he chose to build wealth through entrepreneurship, real estate, and hard assets. &#8220;I have been saving real gold, silver, and today Bitcoin,&#8221; he wrote.
&#8220;Please take proactive action. Please do not be a victim of this &#8216;time in history,'&#8221; he urged.
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<h2 class="wp-block-heading">A Longstanding Critic Of &#8216;Fake Fiat Money&#8217;</h2>
Kiyosaki has been outspoken about what he views as an unstable financial system. In last month&#8217;s <a href="https://x.com/theRealKiyosaki/status/1936989017079238876">post</a>, he warned of a coming global monetary collapse fueled by what he calls the &#8220;biggest debt bubble in history.&#8221;
&#8220;Will you be richer or poorer when the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46045741/rich-dad-poor-dad-author-robert-kiyosaki-warns-of-global-debt-collapse-urges-buying-gold-silver-bitcoin">biggest debt bubble in history</a> bursts?&#8221; he asked.&nbsp; &#8220;Biggest losers will be savers of fake fiat money and especially bonds.&#8221;
Kiyosaki&#8217;s message is that traditional saving strategies won't protect you, and now is the time to pivot. His advice is to <a href="https://www.benzinga.com/money/is-gold-a-good-investment">own gold</a>, <a href="https://www.benzinga.com/money/how-to-invest-in-silver">silver</a> and <a href="https://www.benzinga.com/money/crypto/bitcoin">Bitcoin</a>.
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<h2 class="wp-block-heading">Entrepreneurship Over Job Security</h2>
Kiyosaki has also <a href="https://www.benzinga.com/news/25/04/44886845/robert-kiyosaki-says-millions-could-be-out-of-work-heres-his-game-plan">voiced concern</a> about the rapidly changing job market. In April, he <a href="https://x.com/theRealKiyosaki/status/1912508493338157069">posted</a>: &#8220;In the last two years&#8230; millions have lost their jobs. In the next few years&#8230; millions more will lose their jobs.&#8221;
He recommended that those feeling uncertain about their employment prospects start preparing now. &#8220;Turn a bad event to a great opportunity to stop being an employee clinging to job security and <a href="https://www.benzinga.com/general/entrepreneurship/24/05/38847195/want-to-start-a-business-now-might-be-the-best-time-for-startups-in-decades">become an entrepreneur</a> working for financial freedom,&#8221; he wrote.
He also floated the idea of joining a network marketing company as a low-cost way to gain entrepreneurial experience, acknowledging that the path comes with risks like rejection and income instability.
Whether or not you agree with his approach, Kiyosaki remains consistent: invest in yourself, question conventional financial advice, and prepare for a future that may look very different from the past.
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Robert Kiyosaki Calls AI The 'Biggest Change In Modern History.' He Warns You Need To Take Proactive Action To Avoid Becoming A 'Victim'

In a bid to curb semiconductor smuggling into China, the US government is considering restrictions on the export of AI chips, including those produced by&nbsp;Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), to Malaysia and Thailand.
What Happened: According to a report, a&nbsp;draft rule from the Commerce&nbsp;Department is aimed at preventing China, which has been effectively barred from purchasing advanced AI processors from Nvidia, from acquiring these&nbsp;components through intermediaries in the&nbsp;two Southeast Asian countries. 
The rule is still under consideration and may undergo changes.
The US officials plan to couple the controls on Malaysia and Thailand with a formal withdrawal of global restrictions&nbsp;from the so-called AI diffusion&nbsp;rule, which had faced resistance&nbsp;from US allies and tech&nbsp;companies, including Nvidia.
This proposed rule marks the first formal step in Trump&#8217;s promised overhaul of his predecessor&#8217;s AI diffusion approach, <a href="https://www.bloomberg.com/news/articles/2025-07-04/us-plans-ai-chip-curbs-on-malaysia-thailand-over-china-concerns?srnd=homepage-asia">reports</a> Bloomberg.
However, it does not provide a comprehensive replacement, leaving open&nbsp;questions about security conditions for&nbsp;the use of US chips&nbsp;in overseas data centers.
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The Commerce Department did not&nbsp;respond to a request for&nbsp;comment, and Nvidia declined to comment. The Thai and Malaysian governments also did not respond.
Why It Matters: The US has been grappling with the question of which countries should be allowed&nbsp;to import American AI chips&nbsp;and under what conditions. 
The fear is that once these&nbsp;semiconductors leave American and allied&nbsp;shores, they could potentially end up in China or benefit Chinese AI companies via&nbsp;remote access to data centers&nbsp;outside China. 
This move is part of a broader strategy to protect US technology and intellectual property from potential misuse.
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NVDA

US Plans To Restrict AI Chip Exports to Malaysia, Thailand To Curb Diversion to China

Valdez &#8220;V.J.&#8221; Edgecombe Jr., a young basketball player who once lived without electricity for seven years, is now on the verge of signing a contract worth $50.4 million.
What Happened: Edgecombe,&nbsp;the No. 3 pick in&nbsp;the 2025 NBA Draft, is expected to sign a lucrative contract with the Philadelphia 76ers soon. 
The 19-year-old shooting guard comes from Bimini, a tiny&nbsp;island chain in The Bahamas, where he and his family grappled with basic necessities like food and electricity.
&#8220;I ain&#8217;t have no electricity&nbsp;— I lived off a&nbsp;generator for seven years,&#8221; Edgecombe shared&nbsp;in an interview <a href="https://www.tiktok.com/@bleacherreport/video/7520281486017285406">with</a> NBA&nbsp;TV. He attributed his success to his single mother, saying,&nbsp;&#8220;Seeing what she had to&nbsp;go through to feed us?&nbsp;It&#8217;s crazy.&#8221;
While Edgecombe has not yet finalized&nbsp;a contract with the 76ers, NBA rookie contracts are determined by draft position. The No. 3 slot carries&nbsp;a maximum contract of $50.4&nbsp;million over four years, including&nbsp;two team option years.
Edgecombe, who played&nbsp;at Baylor University for one&nbsp;season, has already signed name, image,&nbsp;and likeness (NIL) deals with&nbsp;companies including PSD Underwear and&nbsp;Panini America. He also recently formed a partnership with Adidas.
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Despite his potential earnings, Edgecombe has already contributed to his community, offering scholarships to his former school in The Bahamas, Gateway Christian Academy.
&#8220;I came to America to&nbsp;play basketball, knowing I&#8217;ve got&nbsp;to feed my family and&nbsp;all of that. That&#8217;s definitely&nbsp;helped me and the person&nbsp;that I am right now.&nbsp;Just work harder than everybody&nbsp;else,&#8221; Edgecombe expressed.
Why It Matters: Edgecombe&#8217;s journey from a life of hardship to the brink of an NBA contract is not just inspiring, but also highlights the transformative power of sports. 
His story serves as a beacon of hope for young athletes facing similar adversities. Furthermore, his early philanthropic efforts underscore the potential of sports figures to drive positive change in their communities.
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Sports

Success Stories

Once Powerless, Now Priceless: V.J. Edgecombe's Journey From No Electricity to $50.4M NBA Future

There might be another compelling reason to visit Costco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), aside from its affordable pizza and industrial-sized condiments. The much-loved bulk wholesaler is entering the <a href="https://www.benzinga.com/markets/large-cap/25/06/45768838/rivian-evs-just-got-smarter-new-app-tracks-energy-use-and-speeds-up-charging">EV charging</a> business and recruiting SpaceX engineers to help them achieve it.
According to electric vehicle news site <a href="https://electrek.co/2025/06/19/spacex-alums-just-supercharged-ev-charging-at-costco/">Electrek</a>, Costco will open its first EV charging stall at its Northport, Florida location in conjunction with an electric charging company Electric Era. If it were to implement the practice nationwide, it could significantly impact electric car sales in the U.S.
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<h2 class="wp-block-heading">Using SpaceX Engineers For Fast EV Charging</h2>
One of the drawbacks to EV adoption in the U.S. is the limited charging infrastructure and slow charging speeds. That's why the big box warehouse has collaborated with Electric Era, which was founded by former SpaceX engineers. The company provided Costco with six EV fast-charging stalls in just 54 days, according to Elektrek, capable of charging most car and SUV batteries in 20-60 minutes, just enough time to fill a shopping cart full of jumbo-sized groceries and fill a prescription or two.&nbsp;
<h2 class="wp-block-heading">Trump's Cut In EV Charging Funding Was A Major Blow</h2>
Electric vehicle sales have been steadily rising in the U.S., but President Donald Trump's decision to <a href="https://www.theguardian.com/us-news/2025/feb/07/trump-electric-vehicle-charging-station-program">cut funding for new EV charging infrastructure</a> was a significant drawback for EV adoption in the U.S. Bloomberg reduced its expectations for installations from 360,000 to 285,000 units.
"If we continue in this direction, [<a href="https://www.bloomberg.com/news/articles/2025-05-20/trump-s-attacks-evs-as-charging-installations-drop?embedded-checkout=true">BloombergNEF</a>'s] outlook for annual US charger installations in 2030 could be adjusted downward by 30% or more,"<a href="https://www.bloomberg.com/news/articles/2025-05-20/trump-s-attacks-evs-as-charging-installations-drop?embedded-checkout=true"> Bloomberg analyst Ash Wang</a> said, pointing to a possible long-term impact if the current pace doesn't pick up.&nbsp;
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However, the question of infrastructure funding remains unresolved, after a federal judge recently ordered the Federal Highway Administration to<a href="https://www.independent.co.uk/news/trump-joe-biden-new-york-sacramento-district-of-columbia-b2776374.html"> resume distributing funds</a> to install EV chargers in 14 states.
<h2 class="wp-block-heading">Tesla Still Has A Monopoly On EV Charging</h2>
The lack of charging infrastructure in the U.S. beyond <a href="https://www.benzinga.com/markets/large-cap/25/06/46161226/gary-black-warns-tesla-q2-deliveries-will-disappoint-says-cheaper-models-could-cannibalize-sales-and-see-ideal-re-entry-22-below-current-levels">Tesla</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) chargers has made many drivers<a href="https://evxl.co/2025/05/27/ev-buyers-hesitate-costs-charging-woes/"> hesitant to buy EVs</a>. However, installing fast chargers at grocery stores has proven to be a winning strategy, with retailers turning a profit on charging stations for the first time since installing them, according to<a href="https://evchargingsummit.com/blog/7-mind-blowing-developments-in-ev-charging-in-2025/"> EV Charging Summit</a>. Thus, it makes sense for Costco to take action with their nationwide reach and massive popularity. As of June 15, there were <a href="https://www.costco.com/WarehouseListByStateDisplayView">630 Costco warehouses</a> in the U.S.
<h2 class="wp-block-heading">Tesla And EV Adoption</h2>
Despite Tesla CEO Elon Musk's flirtation with politics, Tesla is by far the most popular EV car manufacturer in the U.S., according to<a href="https://cleantechnica.com/2025/04/15/auto-brands-leading-the-us-ev-revolution-charts/"> CleanTechnica</a>. Its fast chargers limit charging times and are in strong demand, which is why it <a href="https://www.consumerreports.org/cars/hybrids-evs/tesla-superchargers-open-to-other-evs-what-to-know-a9262067544/">has partnered</a> with Hyundai, Kia, Chevrolet, Cadillac, Honda, Acur, and others to allow them to use their chargers with the use of an adapter. This is particularly useful for EV car owners who don't have a home charger. Costco's vast parking lots could become an essential component in winning the EV charging battle.&nbsp;
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Costco's EV Charging Has Been Developed By SpaceX  Engineers — Its Low Prices Could Usher In A New Wave Of Car Buyers

In a landmark move, California&#8217;s lawmakers have exempted most urban housing&nbsp;development from the California Environmental&nbsp;Quality Act (CEQA), potentially transforming the landscape of housing development in the state.
A long-standing political struggle between housing developers and advocates of California&#8217;s primary environmental law has likely reached a resolution with the approval&nbsp;of a state budget-related housing&nbsp;bill. 
This new legislation makes CEQA inapplicable to a significant portion&nbsp;of urban residential development in&nbsp;the state.
According to reports, the implications of this development are far-reaching. Most&nbsp;new apartment buildings will no&nbsp;longer face threats of environmental litigation. Urban developers will no longer need to assess, predict, and mitigate potential impacts of new housing on&nbsp;local traffic, air pollution, flora&nbsp;and fauna, noise levels, groundwater&nbsp;quality, and objects of historical or archaeological significance.
Assemblymember Buffy Wicks, an Oakland Democrat who introduced the CEQA law as a separate bill in March, said to Cal Matters, &#8220;Saying &#8216;no&#8217; to housing in my community will no longer be state sanctioned.&#8221;
She added that while this won&#8217;t solve all housing issues in the state, it will eliminate the most substantial hurdle to building environmentally friendly housing.
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The new law states that urban &#8220;infill&#8221; housing developments — housing constructed&nbsp;in and around existing development&nbsp;— are no longer subject&nbsp;to CEQA. There are a few exceptions and qualifiers, but they are considered relatively minor by development advocates.
The bill applies&nbsp;to projects under 20 acres,&nbsp;mainly affecting large&nbsp;multi-block-spanning mega developments. A certain&nbsp;level of density is required,&nbsp;effectively excluding&nbsp;the policy for single-family home&nbsp;construction. 
Before any project can&nbsp;proceed, affiliated tribal governments must be notified,&nbsp;but the consultation is put&nbsp;on a short timeline. To&nbsp;qualify for the exemption, a&nbsp;proposed project must also comply with local zoning regulations.
Gov. Gavin Newsom (D), who spent much of last week persuading the Legislature to pass the bill as part of his budget package, signed it last week. The key question now is whether this significant political and policy shift will result in more homes being built in California&#8217;s cities.
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California Urban Housing Development Exempted From CEQA: A Game Changer?

It's no secret that investing can be stressful, <a href="https://www.benzinga.com/news/25/05/45185944/warren-buffett-shares-surprising-advice-for-young-investors-and-its-not-about-stocks-who-you-associate-with-is-just-enormously-important">but for younger investors</a>, that pressure may be building faster than expected. Despite having more time to weather market cycles, many investors under 35 report feeling financially insecure, dissatisfied and uncertain about their financial future.
A recent <a href="https://www.investopedia.com/survey-shows-stress-compounds-among-young-investors-4685903">survey</a> conducted by Janus Henderson, the Financial Planning Association, and Investopedia set out to measure stress levels among both investors and financial advisors. The results showed clear generational differences. Investors under 35 were far more likely to say they're struggling to get ahead financially. Many reported earning just enough—or not enough—to cover basic expenses, which leaves little room for saving or investing.
Major factors <a href="https://www.benzinga.com/topic/student-debt">like student debt</a>, flat wage growth and economic aftershocks from the 2008 financial crisis seem to be contributing the most. While unemployment has declined in recent years, wages for younger workers haven't kept pace. Inflation-adjusted starting salaries for college grads still lag behind pre-crisis levels, and that gap may be shaping how younger investors think about their finances.
The stress isn't limited to money. Many younger respondents said financial pressure spills into their day-to-day lives, affecting their mood, focus and ability to make decisions. Research suggests that long-term stress can actually impair the brain's ability to weigh risk or adapt to changing circumstances, which could influence financial behavior over time.
Still, the survey offered one encouraging takeaway. Investors of all ages who had a written financial plan and <a href="https://www.benzinga.com/money/what-is-financial-planning">set long-term goals</a> reported lower levels of stress overall. While a plan may not solve every issue, it appears to offer some reassurance, especially for those in the earlier <a href="https://www.benzinga.com/money/asset-allocation-by-age">stages of building wealth</a>.
As economic trends continue to shift, tools that promote planning and clarity may become even more important for younger investors looking to feel more secure.
Photo: Shutterstock

Financial Advisors

What's Driving Anxiety For Investors Under 35

Billionaire investor&nbsp;Warren Buffett&nbsp;has shifted his investment strategy, investing $459 million in Sirius XM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>) after selling his stakes in&nbsp;Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).
What Happened: Buffett&#8217;s investment firm,&nbsp;Berkshire Hathaway, acquired approximately&nbsp;20 million shares of Sirius&nbsp;XM between Q3 2024 and Q1 2025. 
This investment, calculated based on an average share price of $22.95, boosts Berkshire&#8217;s total holdings in Sirius to nearly 120 million shares, valued at approximately $2.9 billion.
According to Hathaway's latest Form 13F <a href="https://www.sec.gov/edgar/browse/?CIK=0001067983">filings</a>, the purchase represents an effort to capitalize on a dip in Sirius XM&#8217;s stock, which has plummeted&nbsp;about 45% from its 52-week&nbsp;high of $41.60 to $24.29. 
Despite recent financial challenges, including a 4% revenue drop in Q1 2025 and ongoing subscriber losses in Q2, Sirius XM&#8217;s&nbsp;strong brand and recurring revenue&nbsp;model likely offer long-term value to Buffett.
Also Read: <a href="https://www.benzinga.com/markets/25/05/45602557/warren-buffett-advocates-for-stocks-over-real-estate-as-long-term-investments-theres-so-much-more-opportunity-in-stock-market-than-in-real-estate">Buffett Advocates For Stocks Over Real Estate As Long-Term Investments: &#8216;There&#8217;s So Much More Opportunity In Stock Market Than In Real Estate&#8217;</a>
This strategic move follows Buffett&#8217;s consistent offloading of shares from&nbsp;Bank of America, JPMorgan Chase, and Wells Fargo, thereby freeing up a significant cash reserve for new investments.
Why It Matters: The shift in Buffett&#8217;s investment strategy underscores his confidence in Sirius XM&#8217;s long-term potential, despite its recent financial setbacks. 
The investment in Sirius XM, a company known for its&nbsp;strong brand and recurring revenue&nbsp;model, aligns with Buffett&#8217;s investment philosophy of buying stocks with solid fundamentals at a discount.
Moreover, the offloading of shares from&nbsp;Bank of America, JPMorgan Chase, and Wells Fargo, suggests a potential shift in Buffett&#8217;s view on the banking sector. 
This move could signal a broader trend among investors, who may also be reassessing their positions in these banks.
Read Next
<a href="https://www.benzinga.com/news/25/05/45185944/warren-buffett-shares-surprising-advice-for-young-investors-and-its-not-about-stocks-who-you-associate-with-is-just-enormously-important">Warren Buffett Shares Surprising Advice for Young Investors—And It&#8217;s Not About Stocks: &#8216;Who You Associate With Is Just Enormously Important&#8217;</a>
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Tech

SIRI

Warren Buffett Skips Big Banks Like JPMorgan and Wells Fargo, Bets $459 Million On This One Asset

Would you fire your own mom to get ahead in life? Kevin O'Leary would. In fact, he says you should — if that's what it takes.
"You sacrifice everything, you do anything you possibly can — including firing your mother if you have to — to make that business survive," O'Leary said in an <a href="https://youtu.be/PGUEj7iAT0M?si=nNJPwDF0ASPboUF8">interview over a decade ago</a> with"AfterShark" host Jason Cochran. And while the quote is from 14 years back, the philosophy hasn't aged a day.
"The only thing that matters in life is money," he continued. "Money is the blood of life and the blood of business. Without it, you're dead."
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It's a harsh take, sure. But it's classic Mr. Wonderful — the name he earned for delivering harsh truths on "Shark Tank" and Canada's "Dragon's Den." And if you think he's exaggerating, you don't know O'Leary.
He wasn't talking to billionaires or private equity titans. He was talking about everyday people trying to get ahead — people with an idea, a plan, maybe a small business, or just a dream they want to take seriously. And he was warning them: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/46131850/none-of-that-matters-kevin-oleary-says-you-might-have-to-sacrifice-your-marriage-your-dog-and-even-your-moms-love-to-succeed">the road to success is not smooth</a>, fair, or balanced.
"If somebody says to you life is balance — it's just simply not true," he said. "If you're a real entrepreneur, there is no balance. You work on your business 24/7."
That kind of tunnel vision might sound extreme, but according to O'Leary, it's exactly what it takes to beat the odds. And the odds are brutal.
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Roughly 20% of small businesses fail within their first year, according to the <a href="https://www.bls.gov/bdm/us_age_naics_00_table7.txt">Bureau of Labor Statistics</a>. Around 50% don't survive past five. Those numbers don't lie — and neither does O'Leary. Sitting at the "Shark Tank" table, he's seen what separates those who make it from those who vanish after a season or two of hustle. It's not just about ideas. It's about grit, obsession, and an unapologetic willingness to prioritize success over everything else.
"Once you have success, once you have the personal freedom, you can pursue many other interests," he explained. "But until you get it done the first time, nothing else matters in the end."
So no, maybe O'Leary doesn't literally want you to <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/07/46188863/when-kevin-oleary-found-his-mother-was-secretly-an-investing-genius-the-performance-was-extraordinary-and-better-than-most-hedge-funds">walk into your mom's office</a> and hand her a pink slip. But he is saying you should be willing to. Because if family, comfort, or even your own sleep is more important than the goal, you probably won't get there.
It's not for everyone. Most people don't operate this way — and maybe that's the point.
Because to O'Leary, success doesn't wait for anyone. It demands everything.
And if you're not prepared to give it — even if it means cutting ties with the people you love — the money probably won't come.
Whether that makes him cold or clear-eyed depends on how badly you want to win.
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Kevin O'Leary Said You've Got To Be Willing To 'Fire Your Mom' If You Want Success Because 'Money Is The Only Thing That Matters'

Elon Musk&#8216;s announcement of the formation of the America Party has drawn the attention of several prominent figures, including Mark Cuban <a href="https://www.benzinga.com/news/25/03/44348205/scaramucci-sees-trouble-ahead-for-musk-trump-relationship-everyone-flames-out-with-trump">and Anthony Scaramucci</a>.
What Happened: On Saturday, Musk, a previous supporter of President Donald Trump, revealed the creation of the new party after a disagreement with Trump over his spending bill.
Musk, who is a naturalized U.S. citizen born abroad, is ineligible to run for president but can endorse third-party candidates. On July 4, he conducted a poll asking if people desired a new party, with a majority of 65.4% respondents in favor. Subsequent to the poll, Musk declared the establishment of the America Party on X.
Notable figures such as billionaire entrepreneur Mark Cuban and ex-White House communications director Anthony Scaramucci have shown interest in the new party. 
Also Read: <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">Elon Musk Announces Formation of &#8216;America Party&#8217; Emerges in Wake of Donald Trump&#8217;s Historic Spending Bill</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I would like to meet to discuss. My DMs are open. <a href="https://t.co/5Cljhy7FU6">https://t.co/5Cljhy7FU6</a>
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1941604620947579060?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cuban indicated his willingness to collaborate with the Center for Competitive Democracy to assist the party in getting on ballots, while Scaramucci showed interest in meeting to discuss the party.
<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">I work with <a href="https://twitter.com/voterchoice?ref_src=twsrc%5Etfw">@voterchoice</a> . They will help you get on ballots. That is their mission. <a href="https://t.co/o4ERVGwQNH">https://t.co/o4ERVGwQNH</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1941613414461174071?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, the party has also been met with criticism. Steve Bannon, Trump&#8217;s former chief strategist, criticized the party on his podcast, while Roger Stone, a seasoned Republican strategist, voiced concerns about the party potentially dividing the Republican vote.
Why It Matters: This move by Musk could potentially disrupt the current two-party system in the U.S. politics. 
The interest shown by high-profile figures like Cuban and Scaramucci suggests that the America Party could gain significant traction. 
However, concerns about splitting the Republican vote highlight the challenges the new party may face in the political landscape.
Read Next
<a href="https://www.benzinga.com/news/25/01/43245984/cuban-on-musk-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-for-when-its-truly-deser" target="_blank" rel="noreferrer noopener">Cuban on Musk: ‘I Have No Problem Throwing Elon Under the Bus, but I&#8217;ll Save It for When It&#8217;s Truly Deserved&#8217;</a>

Anthony Scaramucci Wants 'To Discuss' New Party With Musk, Mark Cuban Offers Ballot Access Aid

President Donald Trump held a phone conversation with Ukrainian President Volodymyr Zelenskyy on Friday, one day after expressing disappointment over an unproductive call <a href="https://www.benzinga.com/news/global/25/05/45337864/ukraine-proposes-ceasefire-as-precondition-for-talks-with-russia" target="_blank" rel="noreferrer noopener">with Russian President</a><a href="https://www.benzinga.com/news/global/25/05/45337864/ukraine-proposes-ceasefire-as-precondition-for-talks-with-russia" target="_blank" rel="noreferrer noopener"> Vladimir Putin</a>.
Politico <a href="https://www.politico.com/news/2025/07/04/trump-zelenskyy-putin-call-00440020" target="_blank" rel="noreferrer noopener">reports</a> that the two leaders reportedly discussed bolstering Ukraine&#8217;s air defense capabilities and increasing cooperation on defense production.
In a social media post summarizing the call, Zelenskyy described the exchange as &#8220;very important and fruitful,&#8221; highlighting agreements around joint procurement, investments, and defense partnerships.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/06/45950097/war-shocks-could-drag-sp-500-down-5-but-market-typically-roars-back-heres-what-data-from-25-wars-70-years-shows" rel="noreferrer noopener">War Shocks Could Drag S&amp;P 500 Down 5% — But Market Typically Roars Back: Here&#8217;s What Data From 25 Wars, 70 Years Shows</a>
The dialogue took place as the U.S. temporarily halted weapons shipments to Ukraine, citing concerns over dwindling domestic stockpiles,
The Zelenskyy call followed a tense exchange between Trump and Putin the previous day.
Speaking to reporters aboard Air Force One, Trump voiced dissatisfaction with Putin&#8217;s stance on ending the war in Ukraine.
&#8220;I was not happy with the conversation,&#8221; he said. &#8220;I don&#8217;t think he&#8217;s looking to stop.&#8221;
While Ukraine released a summary of Friday&#8217;s conversation, the White House has not yet issued an official readout.
Trump has faced increasing pressure to clarify his administration&#8217;s approach to supporting Kyiv amid uncertainty about future U.S. military aid and broader geopolitical strategies in Eastern Europe.
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Image: Shutterstock

General

'Not Looking To Stop': Trump Slams Putin on Ukraine, Speaks With Zelenskyy

President Donald Trump has declared that the U.S. is set to begin negotiations with China on a potential deal involving TikTok. The discussions are expected to kick off as early as the coming week.
What Happened: Trump has unveiled plans to initiate talks with China concerning the sale of TikTok. &#8220;We pretty much have a deal,&#8221; Trump announced on Friday, hinting that the negotiations could start as early as Monday or Tuesday.
"I think we're gonna start Monday or Tuesday, talking to China, perhaps President Xi Jinping or one of his representatives, but we pretty much have a deal," Trump said. 
According to the Reuters&#8217; report, Trump&#8217;s announcement came on the heels of a report by The Post&#8217;s Charles Gasparino that a potential buyer for the Chinese-owned app had been identified. 
However, the real hurdle lies with the seller. The deal is expected to necessitate China&#8217;s approval, as TikTok has emerged as a significant factor in the ongoing US-China trade negotiations.
Furthermore, Trump has granted an extension to TikTok&#8217;s parent company,&nbsp;ByteDance, to divest its US assets by September 17. This is the third extension since Trump&#8217;s re-entry&nbsp;to the White House in&nbsp;January.
Also Read: <a href="https://www.benzinga.com/news/social-media/25/06/46160115/donald-trump-drops-hint-about-potential-tiktok-buyer-but-keeps-details-close-to-his-chest">Donald Trump Drops Hint About Potential TikTok Buyer, But Keeps Details Close To His Chest</a>
When questioned about his confidence in China agreeing to the deal, Trump replied, &#8220;I&#8217;m&nbsp;not confident, but I think&nbsp;so. President Xi and I&nbsp;have a great relationship, and&nbsp;I think it&#8217;s&nbsp;good for them. I think&nbsp;the deal is good for&nbsp;China, and it&#8217;s good for us.&#8221;
Why It Matters: The potential deal comes amidst heightened tensions between the US and China, with TikTok at the center of the dispute. The video-sharing platform has been under scrutiny in the US due to concerns over data privacy and national security. 
The outcome of these negotiations could significantly impact the future of TikTok in the US and set a precedent for other Chinese tech companies operating in the country. 
Furthermore, the deal could also influence the dynamics of the ongoing US-China trade negotiations.
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Image: Shutterstock

Donald Trump Announces Upcoming Talks With China On TikTok: 'We Pretty Much Have A Deal'

Bill Gates and Elon Musk are two of the richest men in the world and <a href="https://www.benzinga.com/trading-ideas/movers/25/06/46080769/tesla-robotaxi-rollout-bill-gates-elon-musk">at times enemies</a> who don't agree on much. When it comes to thoughts on drinking, the two may have more in common than they know.
What Happened: A social media thread in 2023 by entrepreneur and investor&nbsp;Marc Andreessen&nbsp;caught the attention of&nbsp;Elon Musk. The thread called for the elimination of alcohol consumption.
Here's what Musk had to say about alcohol and how Bill Gates factors into the sector.
Andreessen shared in the Twitter thread that he stopped drinking alcohol six months earlier.
"I feel much better, and I'm mad as hell about it. I never really drank through my 20s and 30s, but grew to really enjoy whiskey through my 40s, coincident with ‘Mad Men,' and roughly a thousand academic studies that proved that alcohol is actually good for you," Andreessen tweeted.
Andreessen said his quote of "The perfect day is 10 hours of caffeine followed by 4 hours of alcohol" has been widely used and might still be true.
"In recent years, it's become clear that most or all —&nbsp;probably all —&nbsp;of the scientific studies on the benefits of alcohol are fake, the scientists unwitting or witting victims of selection effects."
Andreessen said he feels better since giving up alcohol and has gotten better sleep.
Musk replied to the tweet with his own thoughts on alcohol.
"Once you acknowledge that alcohol is poison, it's fine to drink a little. The trade is a small amount of health for an even smaller amount of fun, but that's not crazy to do once in a while with friends," Musk&nbsp;<a href="https://twitter.com/elonmusk/status/1631012111101972486" target="_blank" rel="noreferrer noopener">said</a>.
Musk called alcohol "a legacy drug" in his tweet.
In a 2018 "ask me anything" on Reddit, Bill Gates said he wasn't much of a beer drinker.
"I am not a big beer drinker. When I end up at something like a baseball game I drink light beer to get with the vibe of all the other beer drinkers. Sorry to disappoint real beer drinkers," Gates said at the time.
Gates comments were in the news at the time with&nbsp;<a href="https://www.benzinga.com/news/23/02/31015357/bill-gates-isnt-a-big-beer-drinker-but-just-bought-a-4-stake-in-this-global-brewery" target="_blank" rel="noreferrer noopener">the billionaire investing</a>&nbsp;in&nbsp;Heineken N.V.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/HEINY#OTC">HEINY</a>), one of the largest global brewers.
Comments from both Musk and Gates suggest they only choose to drink when they are with friends or at social events, with the key being in moderation.
You may not be a billionaire like Bill Gates or Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46157351/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-71">check out five stocks flying under the radar that deserve your attention.</a>
The Impact of Beer:&nbsp;Gates investment in Heineken drew mixed reactions due to his comments on beer and a study funded by the Bill and Melinda Gates Foundation that showed there are no benefits and only risks for young adults drinking alcohol.
In 2022, a study of people under the age of 40 showed that drinking even two teaspoons of wine per day or two and a half tablespoons of beer per day could risk future health. The study was published in the Lancet medical journal, as reported by&nbsp;<a href="https://fortune.com/2022/07/15/alcohol-study-lancet-young-adults-should-not-drink-bill-melinda-gates-foundation/" target="_blank" rel="noreferrer noopener">Fortune</a>.&nbsp;
Another research report&nbsp;<a href="https://www.nytimes.com/2023/01/13/well/mind/alcohol-health-effects.html" target="_blank" rel="noreferrer noopener">published&nbsp;</a>by the New York Times showed similar results that any amount of alcohol consumption can be harmful to health.
The study found that alcohol damages DNA and can prevent the body from repairing the damage. This can lead to long-term health problems such as&nbsp;cancer. Other harmful items can include high blood pressure, coronary artery disease&nbsp;and liver disease.
This article was previously published by Benzinga and has been updated.
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Image created using photos from Shutterstock.

Education

HEINY

Elon Musk And Bill Gates Rarely Agree—But They Do On Alcohol

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