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Gaotu Techedu

Gaotu Techedu Inc is a technology-driven education company that provides online live courses in a large-class setting backed by its proprietary technology infrastructure. The company offers courses in large-class format, which amplifies the benefits of online education and allows it to rapidly expand its student base. It operates solely in the PRC and all assets are located in the PRC. The learning services that the company offers include Traditional Learning Services, Non-Academic Tutoring Services, and College Student and Adult Education Services. It derives maximum revenue from Learning Services and also from Educational content & digitalized learning products.

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Gaotu Techedu Inc

Billionaire entrepreneur Elon Musk reportedly engaged in a heated physical altercation with Treasury Secretary Scott Bessent at the White House, leading to a <a href="https://www.benzinga.com/news/politics/25/06/45827968/trump-vs-musk-betting-markets-anticipate-next-move-in-musk-trump-feud-predict-low-chances-of-musk-forming-political-party">fallout with President Donald Trump</a>.
What Happened: The incident took place in mid-April when Musk and Bessent presented competing proposals to the president. The situation escalated after President Trump sided with Bessent&#8217;s plan, leading to a verbal and physical confrontation between the two men.
Former&nbsp;White House official Steven Bannon&nbsp;stated that the argument turned physical when Musk, the world&#8217;s wealthiest man, allegedly shoulder-checked Bessent. 
As per the report <a href="https://www.washingtonpost.com/politics/2025/06/07/trump-elon-musk-fight-behind-scenes/">by</a> The Washington Post, Bannon claimed that it took several&nbsp;people to break up the&nbsp;fight before Musk was&nbsp;removed from the West Wing.
"Scott said, ‘You're a fraud. You're a total fraud,' Bannon said in an interview and as quoted by the Post.
Following this, Musk rammed his shoulder into Bessent's rib cage "like a rugby player," Bannon added, and Bessent hit him back. 
Also Read: <a href="https://www.benzinga.com/news/politics/25/06/45829416/trump-allegedly-calling-people-to-claim-elon-musk-has-serious-drug-problem-big-time-drug-addict">Trump Allegedly Calling People To Claim Elon Musk Has Serious Drug Problem: &#8216;Big-Time Drug Addict&#8217;</a>
Multiple people stepped in to break up the scrum as the two men reached the national security adviser's office, and Musk was shuffled out of the West Wing.
"President Trump heard about it and said, ‘This is too much,&#8221; Bannon said.
The fallout continued on social media, with Musk&nbsp;accusing the Trump administration of&nbsp;withholding documents related to Jeffrey Epstein. Trump responded by calling Musk &#8220;crazy&#8221; and threatening to cancel federal contracts and subsidies awarded to Musk&#8217;s businesses.
Bannon also called for a federal investigation into Musk&#8217;s immigration status, suggesting the South African-born American citizen should be deported.
Why It Matters: This incident marks a significant escalation in the ongoing tension between Musk and the Trump administration. 
The fallout could potentially impact Musk&#8217;s businesses, including&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and&nbsp;SpaceX, especially if the threats to cancel federal contracts and subsidies materialize. The call for a federal investigation into Musk&#8217;s immigration status further complicates the situation, potentially threatening his position as the head of his companies. 
This event also raises concerns about the political climate and its impact on the business sector.
Read Next
<a href="https://www.benzinga.com/news/politics/25/06/45828246/trump-warns-musk-against-aiding-democrats-hell-have-to-pay-serious-consequences-if-he-does-that" target="_blank" rel="noreferrer noopener">Trump Warns Musk Against Aiding Democrats: ‘He'll Have To Pay Serious Consequences If He Does That'</a>
Image: Shutterstock/Shutterstock AI Generator

Politics

TSLA

Elon Musk Reportedly Slammed Into Scott Bessent 'Like A Rugby Player' After Being Called a 'Fraud', Trump Said 'This Is Too Much'

Shaquille O&#8217;Neal, president of Reebok Basketball, was forced to change his initial plans of signing big names due to budget constraints.
What Happened: Shaq, who assumed the role of Reebok&#8217;s president in 2023, had a vision to restore the brand&#8217;s former glory through strategic partnerships with athletes and teams.
However, he encountered unexpected budgetary limitations. &#8220;I had to deal with something I never had to deal with: budgets. Cuz I&#8217;m like, &#8216;Imma sign Shai, I&#8217;ma sign all these players.&#8217; But hollering at their agents, they want $60 million. And now I gotta go back to the Board and they said, &#8216;Man, you ain&#8217;t got $60 million,'&#8221; O&#8217;Neal revealed during <a href="https://www.youtube.com/watch?v=dDV0atGIPuk&amp;t=2101s">an</a> interview.
Reebok, which was once a major rival to Nike, has witnessed a significant decline in its status since being acquired by Adidas in 2006. 
By the time O&#8217;Neal took the reins, the brand wasn&#8217;t even among the top 7 in market share, essentially starting from scratch.
O&#8217;Neal&#8217;s initial strategy to sign Shai Gilgeous-Alexander was thwarted due to financial constraints. Instead, he signed Angel Reese, a star of women&#8217;s college basketball, who had a personal connection with O&#8217;Neal through LSU.
Also Read:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45828121/elon-musks-bombshell-about-donald-trump-in-epstein-docs-heres-the-truth-behind-the-claim" target="_blank" rel="noreferrer noopener">Elon Musk Drops Bombshell About Donald Trump in Epstein Docs—Here's The Truth Behind The Claim &#8211; Benzinga</a>
Reese, the 7th overall pick&nbsp;in the 2024 WNBA Draft, was signed to a multi-year extension by Reebok in October 2024, making&nbsp;her the sixth current WNBA&nbsp;player to have a signature&nbsp;shoe.&nbsp;Her signature shoe is expected&nbsp;to be released next year.
Why It Matters: This unexpected partnership is a testament to the financial challenges Reebok is currently facing. The inability to sign big names could potentially impact the brand&#8217;s resurgence strategy. 
However, signing Reese, a rising star in women&#8217;s basketball, could open new avenues for the brand in the women&#8217;s sports market. 
The success of Reese&#8217;s signature shoe could be a crucial factor in determining the future trajectory of Reebok under O&#8217;Neal&#8217;s leadership.
Read Next
<a href="https://www.benzinga.com/general/sports/25/05/45483236/shaq-rolls-up-in-a-cybertruck-elon-musk-has-this-one-word-response">Shaq Rolls Up In A Cybertruck — Elon Musk Has This One-Word Response</a>
Image: Shutterstock

News

Shaq Settled on Angel Reese for Reebok Endorsement Due to Budget Constraints: 'I Had To Deal With Something I Never Had To Deal With'

A young business owner called into Dave Ramsey&#8216;s &#8220;<a href="https://www.youtube.com/watch?v=hs8umvmVr68">EntreLeadership</a>&#8221; podcast with a surprising dilemma: one of his employees asked for ownership in the company. The caller, a 22-year-old CEO of an outdoor recreation event company, wasn't sure how to handle it. Ramsey&#8217;s response was part tough love, part strategic advice, and all classic Ramsey.
<h2 class="wp-block-heading">Too Soon For Partners</h2>
&#8220;You&#8217;ve got to be kidding me,&#8221; Ramsey said with a laugh. &#8220;I have two employees and I just started this and I&#8217;m 22 years old. We&#8217;re not dealing out equity at this point. No way.&#8221;
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The caller explained he <a href="https://www.benzinga.com/news/24/03/37834997/from-billion-dollar-mistake-to-300m-exit-the-early-entrepreneurial-experiences-of-benzinga-co-founde">started the business</a> when he was 18 with a few hundred dollars and had grown it to about $500,000 in annual revenue. He hired the employee full-time to help run events while he focused on scaling.
&#8220;I pay them a salary,&#8221; the caller said. &#8220;And recently they were doing a good job so I gave them 10% profits on merchandise and 5% profits in the business at the end of the year. Even after doing that, they still insisted they want ownership.&#8221;
Ramsey didn't hesitate. &#8220;Hit the road, Jack. Not a chance. The last thing you need is a partner,&#8221; he said. &#8220;The tail&#8217;s not wagging the dog here. You&#8217;re the dog, man.&#8221;
Trending: <a href="https://www.benzinga.com/money/this-ai-imaging-technology-has-been-used-in-more-than-500-surgeries-now-you-can-be-part-of-the-ai-imaging-revolution">Be part of the next med-tech breakthrough for only $350 — 500+ surgeries already done with nView's AI system.</a>
<h2 class="wp-block-heading">Pay Like A Partner, Don't Give Up Control</h2>
Ramsey shared how he compensates his own team at Ramsey Solutions: &#8220;I&#8217;ve got vice presidents in this place, I&#8217;ve got executive VPs, my operating board—none of them have a salary. They all get paid off of the bottom line of the company the 15th of the month following. They get paid a percentage of what the company created in profits the month before, and they make really, really good money.&#8221;
Ramsey made it clear that while the employee may be valuable, asking for equity in a small, young business is &#8220;asinine.&#8221;
&#8220;What they&#8217;re really after is more money,&#8221; he said. That&#8217;s why Ramsey recommended that he pay them as if they were a partner, but without giving them actual ownership.
Ramsey then outlined a compensation plan: pay a lower base salary and add a percentage of the profits from the events the employee manages. For example, if two events per month bring in $10,000 each in profit, and the employee is responsible for those, paying 15% of that profit would result in strong earnings.
You want him making money because the more money he makes, the more money you make, Ramsey said. &#8220;But if every time I hire three people, one of them becomes a partner, we&#8217;re going to have 73 partners when this thing grows. No, thank you.&#8221;
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>.
<h2 class="wp-block-heading">Monthly Accounting Is A Must</h2>
One of the biggest takeaways from Ramsey&#8217;s advice was the need for clean, detailed accounting. He stressed the importance of closing the books monthly and using job-costing methods to track profit on each event.
&#8220;If you don&#8217;t know what you made on those two events, because you&#8217;re screwing around with your stuff receipts in a shoebox or something, then you can&#8217;t calculate his pay,&#8221; Ramsey warned. &#8220;And you&#8217;re not going to be paying him, and he&#8217;s going to be unhappy—and he would be correct.&#8221;
He also recommended paying commissions on the 15th of the month for the previous month&#8217;s events, in addition to a regular salary at the start of the month.&nbsp;
Ramsey wrapped it up with some encouragement. &#8220;You've got a fun little business going,&#8221; he said. &#8220;I hope it grows for you and you get 10 of him and they&#8217;re all making money off the bottom and you&#8217;re <a href="https://www.benzinga.com/personal-finance/25/02/43759794/are-you-a-top-1-earner-heres-what-you-need-to-rake-in-to-be-among-the-richest">making money off the top</a>.&#8221;
Read Next: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
Image: Shutterstock

A 22-Year-Old CEO Asks Dave Ramsey What To Do About An Employee Asking For Ownership. His Advice After A Sincere Laugh? 'Hit The Road, Jack'

Elon Musk&nbsp;recently shared a post in which ARK Invest CEO Cathie Wood lauds him as the &#8216;Thomas Edison of our age,&#8217; a testament to his transformative impact on humanity.
What Happened: On Sunday, Musk retweeted a post by DogeDesigner @cb_doge, which contained an interview of Cathie Wood expressing her admiration for the Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO. 
&#8220;I think he&#8217;s&nbsp;the Thomas Edison of our&nbsp;age. I think he&#8217;s&nbsp;a very good person. He&nbsp;wants to do the right&nbsp;thing, if I had to&nbsp;say one thing, he&nbsp;wants to do the right&nbsp;thing, to transform the lot&nbsp;of most of humanity,&#8221; she said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8; Cathie Wood on Elon Musk: &quot;I think he&#39;s the Thomas Edison of our age. I think he&#39;s a very good person. He wants to do the right thing, if I had to say one thing, he wants to do the right thing, to transform the lot of most of humanity.&quot; <a href="https://t.co/bnQajOIYzx">pic.twitter.com/bnQajOIYzx</a>
&mdash; DogeDesigner (@cb_doge) <a href="https://twitter.com/cb_doge/status/1931624663815225514?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote>
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In the interview with Steven Bartlett, Wood also said that if she could only pick one stock to invest in, she would choose Tesla.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45335756/cathie-wood-stands-firm-on-bold-700000-bitcoin-prediction-for-investors-says-bull-case-in-the-1-5-million-range">Cathie Wood Stands Firm on Bold $700,000 Bitcoin Prediction for Investors, Says &#8216;Bull Case in the $1.5 Million Range&#8217;</a>
&#8220;It is a convergence of our three major platforms, Robots, Energy Storage, AI. It's not stopping with Robotaxis, there's a story beyond that with Humanoid Robots, and our $2600 PT (2030) has nothing to do with humanoid robots — we just thought it would be an investment period," she said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cathie Wood says if she could only pick one stock to invest in, she would choose <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>. "It is a convergence of our three major platforms, Robots, Energy Storage, AI. It's not stopping with Robotaxis, there's a story beyond that with Humanoid Robots, and our $2600 PT (2030) has… <a href="https://t.co/PBr2hDj7ZL">pic.twitter.com/PBr2hDj7ZL</a>
&mdash; Nic Cruz Patane (@niccruzpatane) <a href="https://twitter.com/niccruzpatane/status/1931597827139936362?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote>
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Why It Matters: The comparison to Thomas Edison, a renowned inventor and businessman, underscores the high regard in which Wood holds Musk. 
Her words highlight Musk&#8217;s commitment to using his technological innovations to improve the human condition. 
This sentiment resonates with many who view Musk as a visionary leader, driving progress in industries such as electric vehicles and space exploration.
Read Next
<a href="https://www.benzinga.com/news/24/04/38131745/cathie-wood-hails-elon-musks-visionary-impact-hes-transforming-the-world-saving-humanity-from-itself">Cathie Wood Hails Elon Musk&#8217;s Visionary Impact: &#8216;He&#8217;s Transforming The World. Saving Humanity From Itself &#8230; Is Extremely Important To Him&#8221;</a>
Image: Shutterstock

Cathie Wood Praises Elon Musk, Says He Is 'The Thomas Edison Of Our Age', Names Tesla As Her No. 1 Stock Pick For The Long Term

Saving for retirement is a long game — and for decades, Dave Ramsey has told his audience that building wealth doesn't require massive income, just consistent effort. But when one caller threw that entire mindset into question, Ramsey didn't just correct the math — he unleashed a full-on lecture.
In a video clip titled <a href="https://youtu.be/imZwWDfA68E?si=hKQU0KnLmVMRvDM7">"Why Should I Invest If I'm Just Going To Die?"</a> posted to his official YouTube channel, a listener named Isaiah challenged Ramsey's popular claim that $100 invested monthly could grow into millions over time.&nbsp;
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"You keep saying to invest $100 a month beginning at age 30 and you'll be worth $5 million at 70 years old," Isaiah said. "That's the most ridiculous thing I've ever heard, because the life expectancy of a white male is 72 and for a Black male it's 68."
Ramsey fired back: "We have never said $100 a month from 30 to 70 is $5 million. It's $1,176,000. All of your numbers are wrong."
He cited data from the National Vital Statistics System showing that as of 2023, the average <a href="https://www.cdc.gov/nchs/fastats/life-expectancy.htm">life expectancy for men in the U.S.</a> was nearly 76. But more importantly, he pointed out that once someone reaches age 65, the average life span stretches another 18 years. "That's into your 80s," he said. "So no, you don't just die before you enjoy your money."
But it wasn't just the math that set Ramsey off — it was the mindset.
"At the core of your belligerency," Ramsey said, "is the idea that somehow you're supposed to get rich in 10 minutes, or that you're entitled to something."
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
He pushed back hard on Isaiah's claim that his background or race had anything to do with financial limits. "Color of skin hasn't got anything to do with your ability to build wealth," Ramsey said. "You're not a victim of anything but your bad thinking."
Then came the now-infamous rant: "Roll up your sleeves, live on less than you make, get out of debt, deny yourself a little bit of pleasure… and quit smoking so much pot. Seriously."
Ramsey called the caller's view "hopelessness," and accused him of spreading discouragement to others who could be working toward financial independence. "You're a hope stealer," he said. "And that pisses me off. Because I spend my life giving people hope."
By the end of the clip, Ramsey reminded listeners that 89% of America's millionaires are first-generation wealthy. "If you plant $100, you'll get this. If you plant $1,000, you'll get 10 times as much," he said. "Most of you waste $100 driving past Starbucks."
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Ramsey's closing argument? "This is the best economy in the history of mankind for the little man to get ahead. If you don't do it, that's not on life. That's on you."
Not everyone may agree with Ramsey's delivery, or his assumptions about longevity, race, or motivation. And sure — life doesn't come with guarantees. You might not live to 88, and a $100 monthly investment won't magically <a href="https://www.benzinga.com/money/smartasset">turn you into a millionaire overnight</a>.
But the bigger question is: What's the alternative? If you don't save out of fear you'll never make it to retirement, what happens if you do?
Ramsey's point may be harsh, but it's hard to argue with the logic: hoping you'll be dead before you need your money isn't a financial plan. And if you're wrong — that could cost you <a href="https://www.benzinga.com/money/are-you-rich">a lot more than $100 a month</a>.
Read Next: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
Image: Shutterstock

Personal Finance

'Why Should I Invest If I'm Just Gonna Die?' — Dave Ramsey Viewer Insists He's Giving Bad Advice But Cites Bogus Stats That Men Don't Live Past 72

From a modest start in a parking lot,&nbsp;Dave&#8217;s Hot Chicken&nbsp;has now entered the billion-dollar club. The restaurant chain, which has experienced remarkable growth since its inception in 2017, recently sealed a billion-dollar deal.
What Happened: The story of Dave&#8217;s Hot Chicken began with a $900 investment by three friends in Los Angeles. The business started by selling Nashville-style hot chicken and has since expanded to 315 locations worldwide, with plans for an additional 150 locations in the U.S., Europe,&nbsp;and the Middle East. 
Over&nbsp;the past two years, the company&#8217;s sales have tripled, surpassing $600 million, as per data from Technomic, a research firm.
As reported <a href="https://www.wsj.com/business/hospitality/daves-hot-chicken-deal-roark-bac46ced?mod=Searchresults_pos1&amp;page=1">by</a> the Wall Street Journal, the restaurant chain was bought by a private-equity firm. Dave&#8217;s Hot Chicken has been lauded for its unique business model, which includes a simple menu, a lively ambiance, and a variety of spice levels, with the &#8220;Reaper&#8221; being the spiciest, requiring a waiver to eat.
Also Read: <a href="https://www.benzinga.com/personal-finance/25/04/45029760/take-investment-advice-from-shaq-his-fortune-grew-thanks-to-charles-barkley-and-donuts">Take Investment Advice From Shaq — His Fortune Grew Thanks To Charles Barkley and Donuts</a>
The company&#8217;s swift expansion is credited to its niche market, robust social media presence, and the growing popularity of chicken. In the U.S., sales of chicken at chain restaurants grew by 9% last year, with fast-casual chicken chains witnessing a 24% increase.
The private equity firm&nbsp;Roark Capital&nbsp;is the new owner of Dave&#8217;s Hot Chicken. Roark Capital, which owns several major restaurant brands, had been interested in the chain since 2021, making its presence felt at the opening of the 15th store.
Why It Matters: The success of Dave&#8217;s Hot Chicken underscores the potential of unique, niche food concepts. The company&#8217;s rapid growth, despite its humble beginnings, demonstrates the power of a strong brand, a focused menu, and effective use of social media. 
The rising popularity of chicken, particularly in the fast-casual dining segment, also played a significant role in the chain&#8217;s success. 
The acquisition by Roark Capital, known for its portfolio of successful restaurant brands, further validates the company&#8217;s business model and growth potential.
Read Next:&nbsp;<a href="https://www.benzinga.com/general/sports/25/04/45027895/why-shaq-wont-share-his-500-million-fortune-with-his-kids-we-aint-rich-im-rich-im-not-going-to-hand-it-to-you-you-gotta-earn-it" target="_blank" rel="noreferrer noopener">Why Shaq Won't Share His $500 Million Fortune With His Kids: ‘We Ain't Rich. I'm Rich. I'm Not Going to Hand It to You, You Gotta Earn It'</a>
Image: Shutterstock/Erman Gunes

Markets

Here's How Dave's Hot Chicken Went From Humble Beginnings To A Billion-Dollar Food Empire

Compyl, a New York-based provider of a unified governance, risk, and compliance platform, has raised $12 million in a Series A funding round led by Venture Guides. The company said in a <a href="https://www.globenewswire.com/news-release/2025/06/04/3093377/0/en/Compyl-Closes-12-Million-in-Series-A-Funding.html">statement</a> that the investment will help accelerate go-to-market initiatives, team growth, and enhance its AI-powered platform.
The round also included participation from existing investors Contour Venture Partners, Armory Square Ventures, NVP Capital, Alpine Meridian Ventures, Brooklyn Bridge Ventures, and Zelkova Ventures. Venture Guides Partner Anton Simunovic will join Compyl's board, according to the statement.
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<h2 class="wp-block-heading">Addressing the Growing Demand for Automated Compliance</h2>
As 57% of cybersecurity teams report being understaffed and 41% cite time commitment as the primary challenge in conducting annual cyber risk assessments, demand for automated compliance tools is rising, according to a <a href="https://www.isaca.org/resources/reports/state-of-cybersecurity-2024">report by</a> global IT governance and security association ISACA.
The company said it aims to fill that gap with a platform that streamlines risk assessments, monitors regulatory shifts, and automates audit workflows. According to Compyl, the platform offers real-time risk detection, automated compliance benchmarking for SOC 2, ISO 27001, and GDPR, and AI-guided remediation tools — all without the extensive customization often required by legacy GRC systems.
<h2 class="wp-block-heading">Positioning in a Growing Market</h2>
The global enterprise GRC market was valued at $62.92 billion in 2024 and is projected to reach $134.86 billion by 2030, growing at a 13.2% CAGR, according to <a href="https://www.grandviewresearch.com/press-release/global-enterprise-governance-risk-compliance-egrc-market">Grand View Research</a>.
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
Amid this expansion, Compyl is emerging as a disruptive force in the GRC space, setting itself apart with no-code customization, real-time monitoring, and a transparent pricing model tailored to mid-market and fast-growing organizations.
<h2 class="wp-block-heading">Momentum and Expansion Plans</h2>
Founded in 2020 by former chief information security officers Stas Bojoukha and Simon Shaddock, Compyl has doubled its customer base for two consecutive years and achieved triple-digit annual recurring revenue growth, the company said.
Looking ahead, Compyl said it plans to introduce an AI-powered "Compliance Copilot" feature in the third quarter of 2025 and expand into the Asia-Pacific region and regulated industries such as healthcare and fintech by 2026.
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

Compyl Secures $12M Series A Funding to Expand AI-Powered GRC Platform Amid Rapid Growth

The ongoing US-China trade war is set to hit the American toy industry, with the potential for a decrease in doll production and a rise in consumer prices.
What Happened: William Su, a doll manufacturer, is among those grappling with the impact of increased tariffs. The decision by President Donald Trump to raise tariffs on China to 145% in April led to a halt in production for many manufacturers.
Although the tariff was reduced to 30% last month to facilitate trade talks, the uncertainty surrounding future rates has left businesses in a state of flux.
As a result, Su anticipates shipping&nbsp;one-third fewer dolls than usual&nbsp;ahead of Christmas. The tariffs have particularly affected low-margin industries like toy makers, who have limited alternatives to raising prices. 
Consequently, American shoppers are expected&nbsp;to face a smaller assortment&nbsp;of goods this holiday season, and at higher costs.
According to a report <a href="https://www.wsj.com/economy/trade/china-tariffs-mean-fewer-more-expensive-dolls-for-american-kids-ab5629d1?mod=hp_lead_pos9">by</a> The Wall Street Journal, a recent ruling by a federal trade court that Trump didn&#8217;t&nbsp;have the authority to impose&nbsp;sweeping tariffs on the US&#8217;s trading partners has further complicated matters. 
Also Read: <a href="https://www.benzinga.com/news/25/06/45736314/us-tariff-impact-prices-surge-at-walmart-and-target-employees-say-some-jumps-top-38">US Tariff Impact: Prices Surge At Walmart And Target, Employees Say—Some Jumps Top 38%</a>
However,&nbsp;another court put the ruling&nbsp;on hold, pending an appeal&nbsp;from the Trump administration,&nbsp;leaving the tariffs in place&nbsp;for now.
With the future of tariff&nbsp;rates uncertain, manufacturers liken making more dolls for the US market to &#8220;gambling&#8221;. The tariffs have also affected smaller toy makers in the US, who&nbsp;are having trouble getting orders&nbsp;through to Chinese factories, as these factories are prioritizing bigger customers.
Why It Matters: Despite a temporary reprieve in tariffs, industry executives agree that children&#8217;s&nbsp;dolls will be more expensive, echoing Trump&#8217;s prediction. 
With around&nbsp;90% of American doll imports&nbsp;coming from China, finding&nbsp;another source of dolls—and toys—is&nbsp;proving to be a challenge.
The trade war&#8217;s impact on the toy industry is a clear example of how international trade disputes can have far-reaching effects on everyday consumers. 
As the holiday season approaches, the potential for higher prices and fewer choices could put a damper on the festive spirit for many American families.
Read Next
<a href="https://www.benzinga.com/tech/25/05/45600853/trumps-apple-tariff-threat-hits-stock-hard-but-heres-why-iphones-cant-just-be-made-in-america">Trump&#8217;s Apple Tariff Threat Hits Stock Hard, But Here&#8217;s Why iPhones Can&#8217;t Just Be &#8216;Made in America&#8217;</a>
Image: Shutterstock

US-China Trade War: American Kids To Get Fewer, Costlier Dolls This Christmas, Here's Why

Brad Pitt&#8216;s much-vaunted Formula One movie, &#8220;F1,&#8221; recently received a resounding thumbs up from its potentially toughest audience — F1 drivers. During a screening in Monaco, the film was praised by the sport&#8217;s speed kings, multiple outlets reported. It was hardly surprising considering some of them have cameos in the movie and it was made in cooperation with F1.
<a href="https://www.benzinga.com/news/topics/25/06/45712700/apples-ai-struggles-to-keep-pace-with-rivals-ahead-of-wwdc-2025">Apple</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which reportedly spent<a href="https://x.com/ESPNF1/status/1789264191469089049"> $300 million to make the film</a>, and Warner Brothers, the distributor, can only hope the public shares the sentiment and will flock to theaters when it is released internationally at the end of the month.
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&#8220;Honestly, I enjoyed the whole thing,&#8221; driver Carlos Sainz told <a href="https://www.reuters.com/sports/formula1/drivers-hail-pitts-f1-movie-hit-after-monaco-screening-2025-05-22/">Reuters</a> in a press conference. &#8220;There were things that really surprised me. Not talking about the story, but the quality of footage they got. It&#8217;s insane. Honestly insane. That&#8217;s for me the best part of all of it."
Driver Oliver Bearman agreed. &#8220;I think it really depicts in a great way what we go through, in a bit of a Hollywood way, as you would expect, but that makes it really interesting,&#8221; he said in the press conference. &#8220;I think the goal of the movie is going to be achieved. I think it&#8217;s going to be a huge hit and it&#8217;s going to make people want to watch F1, which is really the goal of it.&#8221;
<h2 class="wp-block-heading">Co-Produced By Lewis Hamilton And Directed By Joseph Kosinski Of ‘Top Gun: Maverick'</h2>
The film was co-produced by seven-time world champion Lewis Hamilton through his Apollo Dawn Films banner. &#8220;Watching Brad drive around at speeds over 180 miles an hour was really impressive to see because it&#8217;s not something you can just learn overnight,&#8221; <a href="https://www.reuters.com/lifestyle/hamilton-impressed-by-pitts-speed-authentic-f1-movie-2025-03-13/">Hamilton said</a> in pre-recorded comments at a launch event. &#8220;The dedication and the focus that Brad put into this process has been amazing to witness.&#8221;
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
Adding to the film&#8217;s star power is director Joseph Kosinski, known for &#8220;Top Gun: Maverick,&#8221; and Javier Bardem as the racing team owner.&nbsp; As with &#8220;Top Gun: Maverick,&#8221; remote cameras captured the actors traveling at high speeds.&nbsp;
&#8220;When you see Brad driving, that&#8217;s not acting. He&#8217;s really concentrating on keeping that car on the track and out of the wall during all those scenes so that&#8217;s something that you just can&#8217;t fake,&#8221; Kosinski told Reuters.
<h2 class="wp-block-heading">One Of The Most Expensive Films Ever Made</h2>
Apple&#8217;s streaming platform is reportedly not yet profitable. In fact,<a href="https://www.theinformation.com/articles/apple-streaming-losses-top-1-billion-year"> The Information</a> reported that the company is losing $1 billion per year with its streaming platform, which has 45 million subscribers. The losses are small-change for the company, whose annual profits were<a href="https://www.forbes.com/sites/dereksaul/2024/10/31/apple-earnings-stock-wavers-despite-strong-iphone-sales/"> $93.7 billion</a> for its fiscal year that ended in September.
Still, Apple is not in the business of losing money. The Information reported that Apple is spending around $4.5 billion on content annually, down from $5 billion in past years. Backing<a href="https://www.imdb.com/news/ni64972881/"> one of the most expensive films ever made</a> is an undoubtedly risky move but producer Jerry Bruckheimer recently played down the towering numbers to<a href="https://deadline.com/2024/07/jerry-bruckheimer-joseph-kosinski-f1-movie-formula-apple-one-brad-pitt-lewis-hamilton-1236001989/"> Deadline</a>, explaining that sponsorship underwrote some of the costs.
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&#8220;We&#8217;ve raised more money for our (filming) car than some Formula 1 teams,&#8221; Bruckheimer said. On-car sponsorship included Expensify, while the Hamilton-linked brands Tommy Hilfiger, IWC, and others also contributed, Deadline reported. &#8220;You take that all into consideration and it really drops that number quite a bit lower than what people would think.&#8221;
When pressed, Bruckheimer balked at getting specific. &#8220;We can&#8217;t give you a number because that&#8217;s Apple&#8217;s money and they can talk about it,&#8221; he told Deadline. &#8220;But what I think you can say is it&#8217;s quite a bit lower than what&#8217;s been reported.&#8221;
<h2 class="wp-block-heading">The Film Needs To Generate $750 Million</h2>
<a href="http://autoracing1.com/">Autoracing1.com</a> suggests that to cover its costs, including marketing, &#8220;F1&#8221; needs to generate over $750 million in global box office revenues — a tall order even with Hollywood&#8217;s top talent in Pole Position.&nbsp;
Apple does not release financial or subscriber numbers for <a href="https://www.benzinga.com/general/entertainment/25/05/45311978/tim-cooks-apple-tv-cameo-rejected-by-seth-rogen-opts-for-netflixs-ted-sarandos-instead-we-said-no">Apple TV+</a> alone, but rather for its overall Services sector, which includes Apple TV+ and generated revenue of<a href="https://www.apple.com/newsroom/pdfs/fy2025-q2/FY25_Q2_Consolidated_Financial_Statements.pdf"> $26.3 billion for </a>fiscal Q4, representing a 14% year-over-year increase.
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

AAPL

Pro Drivers Give Brad Pitt's 'F1' Movie The Thumbs Up. Its $300 Million Budget Makes It One Of The Most Expensive Films Ever Made

The&nbsp;official Donald Trump meme coin&nbsp;project has abandoned its plans to introduce a Trump-branded cryptocurrency wallet. The announcement was made by Eric Trump following a conflict within the&nbsp;World Liberty Financial project, which&nbsp;is managed by the president&#8217;s sons.
What Happened: The Trump crypto wallet project (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), which was unveiled earlier this week, has been temporarily halted. Eric Trump made the announcement on Friday, assuring that despite the setback, the team is still committed to the development of the TRUMP meme coin.
Eric Trump further disclosed that World Liberty Financial intends to secure a substantial stake&nbsp;in TRUMP for their long-term&nbsp;treasury, highlighting their collective vision for cryptocurrency, patriotism, and long-term prosperity.
In a post on X, Eric Trump said, &#8220;I am proud to announce the&nbsp;TRUMP&nbsp;meme coin has aligned with [World Liberty Financial].&#8221;
<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">Breaking News: I am proud to announce the <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> Meme Coin has aligned with <a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@WorldLibertyFi</a>. Although their meme wallet isn't moving forward, they remain focused on building the most exciting MEME on earth &#8211; <a href="https://twitter.com/search?q=%24Trump&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Trump</a>. Moreover, we&#39;re proud to announce that World Liberty Financial…
&mdash; Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/1931075264936550480?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, the announcement of the wallet was met with public opposition from Trump&#8217;s sons, who denied any association with the wallet product, leading to uncertainty about the project&#8217;s future.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">EXCLUSIVE: Eric Trump Declares Bitcoin The Future, Details Tax-Free Crypto Goals For Trump Presidency</a>
Following this, World Liberty Financial issued a cease and desist order&nbsp;to the GetTrumpMemes team on&nbsp;Thursday, resulting in the wallet&#8217;s website going offline.
The Trump family&#8217;s foray into the cryptocurrency industry has been met with skepticism. Despite the controversy, the Trump administration has refuted the allegations. 
The family&#8217;s crypto ventures have substantially augmented&nbsp;President Trump&#8217;s wealth, accounting for&nbsp;nearly 40% of his net&nbsp;worth, or roughly $2.9 billion.
Why It Matters: The suspension of the Trump crypto wallet project underscores the ongoing internal disagreements within the World Liberty Financial project. 
The public opposition from Trump&#8217;s sons towards the wallet product, coupled with the cease and desist order issued to the GetTrumpMemes team, has cast a shadow over the future of the project. 
Despite the controversy, the Trump family&#8217;s involvement in the crypto industry has significantly boosted President Trump&#8217;s wealth, indicating the potential profitability of such ventures.
Read Next
<a href="https://www.benzinga.com/news/24/12/42496864/exclusive-eric-trump-calls-elon-musk-albert-einstein-of-our-time-says-tesla-ceo-will-help-build-a-stronger-america">EXCLUSIVE: Eric Trump Calls Elon Musk &#8216;Albert Einstein Of Our Time,&#8217; Says Tesla CEO Will Help Build &#8216;A Stronger America&#8217;</a>
Image: Shutterstock/Kirill Aleksandrovich

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

Cryptocurrency

$TRUMP

Trump-Branded Crypto Wallet Project Suspended Amid Internal Dispute, Says Eric Trump

Democratic leaders are confronting renewed calls for generational change as questions mount over the party&#8217;s aging leadership, especially after the health and political fallout surrounding <a href="https://www.benzinga.com/25/05/45485704/joe-biden-diagnosed-with-advanced-prostate-cancer-trump-wishes-former-president-a-fast-and-successful-recovery" target="_blank" rel="noreferrer noopener"> Joe Biden and other veteran lawmakers.</a>
At Rep. Jim Clyburn&#8216;s (D-S.C.) renowned &#8220;fish fry&#8221; event in South Carolina last week, the internal debate over age and succession was hard to ignore, BBC <a href="https://www.bbc.com/news/articles/cpw7p2pjn11o" target="_blank" rel="noreferrer noopener">reports</a>.
The annual gathering, hosted by the influential South Carolina congressman, comes amid growing unease within the party following Biden&#8217;s departure from the 2024 race and then-Vice President Kamala Harris&#8216;s subsequent loss to Donald Trump.
Also Read: <a target="_blank" href="https://www.benzinga.com/cannabis/25/06/45713593/trump-shares-baseless-theory-about-bidens-alleged-execution-and-subsequent-robotic-replacement-in-2020" rel="noreferrer noopener">Trump Shares Baseless Theory About Biden&#8217;s Alleged Execution And Subsequent Robotic Replacement In 2020</a>
Biden later revealed he was battling stage 4 prostate cancer, which added to concerns over leadership longevity and succession planning.
Clyburn, who is 84 and seeking re-election, dismissed retirement speculation, insisting that his constituents still support him.
But his remarks did little to stop whispers about whether the Democratic Party needs a new generation to steer its future—especially after three congressional Democrats died in office this year, handing Republicans the edge in key votes, including a narrow approval of Trump&#8217;s budget.
Younger party members and activists have been increasingly vocal, warning that the Democrats risk becoming out of touch if they fail to recruit and elevate younger leaders.
Ashley McIntyre Stewart, a party activist, said bluntly, &#8220;We have a geriatric problem,&#8221; urging more youth involvement to avoid being outmaneuvered by Republicans, BBC adds.
Yet, many of the party&#8217;s oldest lawmakers show no signs of stepping down.
An Axios survey found that over half of House Democrats aged 75 and above plan to run again in 2026.
The balance between seasoned experience and energetic newcomers remains a pressing concern heading into the next cycle.
Youth Movement Gaining Ground
Some up-and-comers have begun challenging the status quo.
Saikat Chakrabarti, 39, is taking on former House Speaker Nancy Pelosi in California.
Meanwhile, Jake Rakov, 37, is contesting Rep. Brad Sherman&#8217;s (D-Calif) seat, signaling a hunger for fresh perspectives in Washington, BBC adds.
At the fish fry, two potential 2028 presidential contenders—Gov. Tim Walz of Minnesota and Gov. Wes Moore of Maryland—spoke to a crowd eager to hear how Democrats plan to regain momentum.
Moore, a 46-year-old military veteran and only the third Black governor in U.S. history, captured attention with a rousing call to action: &#8220;This is our moment.&#8221;
While both parties face aging leadership, the Democrats&#8217; recent stumbles have intensified scrutiny.
As the party plots its future, the push to balance experience with energy is becoming an unavoidable conversation at every level—from fish fries to national conventions.
Read Next:
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</ul>
Image: Shutterstock/Ben Von Klemperer

Democrats Face Generational Reckoning as Calls for Younger Leaders Grow: 'We Have a Geriatric Problem'

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol class="wp-block-list">
<li>Lululemon Athletica Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) stock dipped 16.23% after the company reported first-quarter results and<a href="https://www.benzinga.com//node/45819605" target="_blank" rel="noreferrer noopener"> analysts revised the price forecast</a>.</li>
<li>Brown Forman Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) shares tumbled 15.69% after the company reported <a href="https://www.benzinga.com//node/45793814" target="_blank" rel="noreferrer noopener">worse-than-expected financial results</a> due to the trade war and tariffs. Analysts lowered the price <a href="https://www.benzinga.com/quote/bf-b/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast on the stock</a>.</li>
<li>DocuSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) shares declined 15.04% after the company reported first-quarter results and analysts <a href="https://www.benzinga.com//node/45818750" target="_blank" rel="noreferrer noopener">revised the price forecast</a>.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock decreased 14.81%, possibly due to Elon Musk&#8217;s departure from the White House and his ongoing <a href="https://www.benzinga.com//node/45805173" target="_blank" rel="noreferrer noopener">feud with President Trump</a>.</li>
<li>Ciena Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) shares fell 9.17% after reporting worse-than-expected <a href="https://www.benzinga.com//node/45788812" target="_blank" rel="noreferrer noopener">second-quarter results</a>. Several analysts revised <a href="https://www.benzinga.com//node/45822276" target="_blank" rel="noreferrer noopener">the price forecast</a> for Ciena stock.</li>
<li>Kenvue Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) stock dived 8.97%.</li>
<li>Kimberly-Clark Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NASDAQ">KMB</a>) shares were down 7.10%. Last week, Suzano S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUZ#NYSE">SUZ</a>) rolled up $3.4 billion in <a href="https://www.benzinga.com//node/45797473" target="_blank" rel="noreferrer noopener">a tissue deal with Kimberly-Clark</a>.</li>
<li>Pearson, Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSO#NYSE">PSO</a>) shares decreased 6.08% last week.</li>
<li>FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) stock declined 5.65%. The Board of Directors has appointed Sanoke Viswanathan as Chief Executive Officer, <a href="https://www.benzinga.com//node/45742153" target="_blank" rel="noreferrer noopener">effective early September 2025</a>.</li>
<li>Arthur J. Gallagher &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) shares were down 5.38% last week.</li>
</ol>
Image Via Shutterstock

Equities

Large Cap

Movers

CIEN

DOCU

KVUE

LULU

Tesla And Lululemon Are Among Top 10 Large-Cap Losers Last Week (Jun 2-Jun 6): Are The Others In Your Portfolio?

Even though Kanye West and Kim Kardashian's relationship is a thing of the past, West&#8217;s investments in stocks for his ex-wife continue to thrive, significantly boosting her financial portfolio.
What Happened: Despite their high-profile divorce, West&#8217;s financial decisions continue to influence Kardashian&#8217;s wealth. According <a href="https://www.forbes.com/profile/kim-kardashian/">to</a> Forbes, her net worth currently stands at $1.7 billion.
Kanye made strategic stock investments on Kardashian's behalf before their separation, many of which have seen impressive returns.&nbsp;
In 2017, Kardashian revealed that her husband, West, gave her an extraordinary Christmas gift: stock worth hundreds of thousands of dollars in major companies like Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Adidas (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>).
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43879013/after-im-a-nazi-rant-on-x-kanye-west-is-reportedly-considering-a-token-after-all">After &#8216;I&#8217;m A Nazi&#8217; Rant On X, Kanye West Is Reportedly Considering A Token After All</a>
If an investor had mirrored West's gift to Kardashian by investing $1,000 in each of these companies, here's how that portfolio would have performed:
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Company</th>
<th class="has-text-align-center" data-align="center">Stock Price (Christmas 2017)</th>
<th class="has-text-align-center" data-align="center">Stock Price (Now)</th>
<th class="has-text-align-center" data-align="center">$1,000 Investment Value Today</th>
<th class="has-text-align-center" data-align="center">Percentage Gain</th>
</tr>
</thead>
<tbody>
<tr>
<td>Disney (DIS)</td>
<td class="has-text-align-center" data-align="center">$104.39</td>
<td class="has-text-align-center" data-align="center">$112.53</td>
<td class="has-text-align-center" data-align="center">$1,077.97</td>
<td class="has-text-align-center" data-align="center">+7.80%</td>
</tr>
<tr>
<td>Netflix (NFLX)</td>
<td class="has-text-align-center" data-align="center">$189.94</td>
<td class="has-text-align-center" data-align="center">$1,250.52</td>
<td class="has-text-align-center" data-align="center">$6,583.76</td>
<td class="has-text-align-center" data-align="center">+558.38%</td>
</tr>
<tr>
<td>Apple (AAPL)</td>
<td class="has-text-align-center" data-align="center">$41.07</td>
<td class="has-text-align-center" data-align="center">$200.63</td>
<td class="has-text-align-center" data-align="center">$4,885.07</td>
<td class="has-text-align-center" data-align="center">+388.51%</td>
</tr>
<tr>
<td>Amazon (AMZN)</td>
<td class="has-text-align-center" data-align="center">$58.42</td>
<td class="has-text-align-center" data-align="center">$207.91</td>
<td class="has-text-align-center" data-align="center">$3,558.88</td>
<td class="has-text-align-center" data-align="center">+255.89%</td>
</tr>
<tr>
<td>Adidas (ADDYY)</td>
<td class="has-text-align-center" data-align="center">$94.26</td>
<td class="has-text-align-center" data-align="center">$120.46</td>
<td class="has-text-align-center" data-align="center">$1,277.95</td>
<td class="has-text-align-center" data-align="center">+27.80%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Note: Stock prices from 2017 are adjusted to reflect splits and dividends.</figcaption></figure>
Over the past five years, Disney shares have declined by 9.85%, while Netflix has surged 198.03%. Apple shares have risen 142.07%, Amazon is up 67.47% and Adidas has fallen by 19.25%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Why It's Important: Kardashian is a television personality, entrepreneur and social media icon who first gained widespread recognition in 2007 through the E! reality series "Keeping Up with the Kardashians," which chronicled the lives of the Kardashian-Jenner family.
Beyond television, she has built a successful business empire with ventures like KKW Beauty, KKW Fragrance and <a href="https://www.benzinga.com/25/02/43789704/kim-kardashians-skims-joins-forces-with-nike-to-redefine-fitness-fashion-stock-gains">the shapewear brand</a> SKIMS.
West, on the other hand, is an American rapper, producer, entrepreneur and fashion designer. In October 2021, he legally changed his name to Ye, citing its spiritual significance.
Widely regarded as one of the most influential musicians of his generation, Ye has sold over 135 million records globally, <a href="https://people.com/tag/kanye-west/">according</a> to People.
Ye is known for his bold public statements and widely publicized personal life. In the fashion world, he founded the Yeezy brand.
Read Next:
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<li><a href="https://www.benzinga.com/general/entertainment/25/02/43682489/scarlett-johansson-calls-for-urgent-ai-regulation-after-fake-kanye-west-video-spreads-government-paralyzed">Scarlett Johansson Calls For Urgent AI Regulation After Fake Kanye West Video Spreads: &#8216;Government Paralyzed&#8217;</a></li>
</ul>
Photo Courtesy: Tinseltown on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

ADDYY

AMZN

NFLX

Kanye West Once Gifted Kim Kardashian Stocks In Apple, Netflix, Amazon And Disney — And His Financial Foresight Continues To Benefit Her Wealth

FBI Director Kash Patel has refuted claims about the existence of videos from &#8220;Epstein Island.&#8221; This statement was made during an interview on &#8220;The Joe Rogan Experience,&#8221; contradicting <a href="https://www.benzinga.com/news/politics/25/06/45828121/elon-musks-bombshell-about-donald-trump-in-epstein-docs-heres-the-truth-behind-the-claim">assertions made by Attorney General Pam Bondi.</a>
What Happened: Patel dismissed conspiracy theories regarding Epstein Island videos during his conversation with Rogan. 
Jeffrey Epstein&#8216;s private island has been the center of numerous allegations, where the late financier was accused of trafficking and assaulting women and underage girls. Bondi, on the other hand, has consistently claimed the existence of such videos.
Addressing Rogan&#8217;s inquiries about potential Epstein footage, Patel <a href="https://open.spotify.com/show/4rOoJ6Egrf8K2IrywzwOMk">said</a>, "We're gonna give you everything we can, and people have to remember, we're not gonna re-victimize women. We're not going to put that shit back out there. It's not happening, because then he wins. Not doing it. You want to hate me for it, fine."&nbsp;
Patel confirmed that his team has reviewed all available material and is now deciding on the best way to release it. However, he warned that the footage may not live up to the expectations of conspiracy theorists.
Also Read: <a href="https://www.benzinga.com/news/politics/25/06/45828038/trump-vs-musk-trump-hints-at-canceling-musks-contracts-well-take-a-look-at-everything-hes-got-a-lot-of-money-heres-how-musk-responded">Trump vs. Musk: Trump Hints at Canceling Musk&#8217;s Contracts: &#8216;We&#8217;ll Take a Look at Everything, He&#8217;s Got a Lot of Money.&#8217; Here&#8217;s How Musk Responded</a>
When asked about the possibility of the videos being destroyed, Patel responded, &#8220;Remember, what we have pursuant&nbsp;to lawful search warrants and&nbsp;authorities from the case&#8230;&nbsp;that's what we had. If&nbsp;other people have other stuff,&nbsp;then they want to give&nbsp;it to us, bring it.&#8221;
This statement starkly contradicts Bondi&#8217;s previous claims of &#8220;tens of thousands of videos&#8221; of Epstein, some of which she described as &#8220;child porn&#8221;.
Why It Matters: This development adds a new twist to the ongoing Epstein case. The contrasting statements from Patel and Bondi raise questions about the evidence in the case and its potential impact on the ongoing investigations. 
The truth behind these videos, or lack thereof, could significantly influence public opinion and the course of the case.
Read Next
<a href="https://www.benzinga.com/markets/25/06/45827390/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession-up" target="_blank" rel="noreferrer noopener">Musk Vs. Trump: Tesla Suffers Record $152B One-Day Crash As CEO Warns Tariffs ‘Will Cause A Recession'</a>
Image: Shutterstock/Maxim Elramsisy

FBI's Kash Patel Denies Existence of Epstein Island Videos: 'We're Gonna Give You Everything We Can, We're Not Gonna Re-Victimize Women'

Jonathan Mann, a non-fungible token (NFT) artist, has spun his taxing experience with cryptocurrency into a song. This follows a $3 million loss he suffered due to a market crash.
What Happened:&nbsp;Mann, who is recognized for his &#8220;Song A Day&#8221; project, recently released a track that narrates his financial misfortune. In a post on X, Mann shared that he made a whopping $3 million by selling his entire song catalog as NFTs. However, he lost it all during the collapse of the Terra ecosystem.
According to his post, on Jan. 1, 2022, Mann embarked on his crypto journey, selling 3,700 songs at $800 each. This earned him approximately $3 million in Ether (ETH). However, the value of ETH plummeted, leaving Mann and his wife uncertain about the right time to sell or the amount to sell. Adding&nbsp;to their woes, the US&nbsp;Internal Revenue Service (IRS) came&nbsp;knocking.
<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">6000 days. 6000 songs. A story that almost broke me: The $3 million I made and lost. My $1.1 million tax bill. The Autoglyph that saved me This is SONG A DAY #6000 &#x1f329;&#xFE0F;CRYPTO TAX NIGHTMARE&#x1f329;&#xFE0F; The journey continues below&#x1f447; <a href="https://t.co/ufUKNPiMIH">pic.twitter.com/ufUKNPiMIH</a>
&mdash; 17 years of song a day (@songadaymann) <a href="https://twitter.com/songadaymann/status/1930642287085674901?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Mann clarified that the earnings from his NFT sales are taxed as income, based on the ETH value at the time of receipt. This holds true even if the crypto asset&#8217;s value crashes later. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/23/04/32100171/bitcoin-thief-who-stole-nearly-5-million-and-was-photographed-in-cash-filled-bathtub-gets-">Bitcoin Thief Who Stole Nearly $5 Million And Was Photographed In Cash-Filled Bathtub Gets 4 Years In Prison</a>
Consequently, despite the decrease in their $3 million worth of ETH, their tax bill remained unchanged.
<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">The story behind this song ended in March 2024, when I sold my Autoglyph and used the $1.1 million proceeds to pay my tax bill. The day after I paid, I began writing the song. I&#39;ve worked on it on &amp; off for the past year and a half. Originally, this wasn&#39;t going to be Song…
&mdash; 17 years of song a day (@songadaymann) <a href="https://twitter.com/songadaymann/status/1930642291355492631?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In an attempt to&nbsp;avoid selling their crypto at&nbsp;a loss, Mann&nbsp;took out a loan through&nbsp;the Aave lending protocol,&nbsp;using some of the ETH&nbsp;as collateral. However, the market crash triggered a series&nbsp;of liquidations across the ecosystem,&nbsp;which included Mann&#8217;s loan, erasing 300 ETH.
After months of collaboration with his accountant, Mann found out that they owed $1,095,171.79 in taxes. To pay off the IRS bill, Mann sold a rare Autoglyph NFT for $1.1 million. Despite this financial blow, Mann continues his daily songwriting and selling them as NFTs.
Why It Matters:&nbsp;Mann&#8217;s experience underscores the volatility of the crypto market and the potential tax implications of trading in digital assets. 
It also highlights the risks associated with crypto-backed loans, particularly during market downturns. 
Despite his financial setback, Mann&#8217;s continued commitment to his craft and the NFT space demonstrates the resilience and adaptability of artists in the face of adversity.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/23/04/31821234/man-gets-prison-time-after-feds-discover-3-4b-in-stolen-bitcoin-hidden-inside-cheetos-popc" target="_blank" rel="noreferrer noopener">Man Gets Prison Time After Feds Discover $3.4B In Stolen Bitcoin Hidden Inside Cheetos Popcorn Tin</a>
Image: Shutterstock/mundissima

Musician Made $3 Million From NFTs — Then Faced a Brutal Tax Hit and Crypto Crash

Corporate America is experiencing a surge in layoffs as companies respond to economic pressures from President Donald Trump's tariff policies and artificial intelligence <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45810135/walmart-microsoft-disney-slash-jobs-as-trump-tariffs-ai-push-corporate-america-into-layoff-mode" rel="noreferrer noopener">adoption reshaping workforce needs</a>.
Earnings
Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) reported second-quarter revenue of $15 billion, beating analyst estimates of $14.99 billion, and adjusted earnings of $1.58 per share, beating analyst <a href="https://www.benzinga.com/markets/earnings/25/06/45803595/broadcom-q2-earnings-revenue-eps-beat-estimates-driven-by-robust-demand-for-ai-networking-company-sees-acceleration-in-ai-revenue-ahead" target="_blank" rel="noreferrer noopener">estimates of $1.56 per share</a>.
Rubrik, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) reported quarterly losses of 15 cents per share, which beat the analyst consensus estimate of losses of 32 cents, and revenue came in at $278.48 million, which beat the <a href="https://www.benzinga.com/markets/earnings/25/06/45803722/rubrik-shares-climb-on-better-than-expected-q1-results-raised-fiscal-outlook" target="_blank" rel="noreferrer noopener">Street estimate of $260.35 million</a>.
Automobile
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) recorded a 213% surge in sales in Norway during May, beating the regional trend that sees company <a href="https://www.benzinga.com/markets/tech/25/06/45739130/elon-musks-tesla-defies-european-slump-with-norway-sales-growth-in-may-model-y-comes-to-the-rescue" target="_blank" rel="noreferrer noopener">sales tumble across Europe</a>.
Anthony Scaramucci, founder and CEO of&nbsp;SkyBridge Capital, praised&nbsp;Tesla CEO&nbsp;Elon Musk&nbsp;for his transformative impact on humanity through his companies, urging the political left to reconsider <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45785192/anthony-scaramucci-says-the-left-should-focus-on-why-it-lost-elon-musk-rather-than-demonizing-him-credits-tesla-ceo-for-enormously-positive-impact-on-humanity" rel="noreferrer noopener">their stance on the&nbsp;billionaire entrepreneur</a>.
Entertainment
Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) lost its legal effort to prevent longtime executive Justin Connolly from leaving the company to join YouTube, <a href="https://www.benzinga.com/markets/tech/25/06/45784775/disney-loses-legal-battle-to-block-executive-justin-connollys-move-to-rival-youtube" target="_blank" rel="noreferrer noopener">a subsidiary of </a><a href="https://www.benzinga.com/markets/tech/25/06/45784775/disney-loses-legal-battle-to-block-executive-justin-connollys-move-to-rival-youtube" target="_blank" rel="noreferrer noopener">Alphabet Inc.&#8217;s </a><a href="https://www.benzinga.com/markets/tech/25/06/45784775/disney-loses-legal-battle-to-block-executive-justin-connollys-move-to-rival-youtube" target="_blank" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</a><a href="https://www.benzinga.com/markets/tech/25/06/45784775/disney-loses-legal-battle-to-block-executive-justin-connollys-move-to-rival-youtube" target="_blank" rel="noreferrer noopener"> Google</a>.
Tom Cruise-starrer&nbsp;high-octane blockbuster&nbsp;&#8220;Mission: Impossible – The Final Reckoning&#8221; reignited China&#8217;s box office over the weekend, topping charts and signaling a <a target="_blank" href="https://www.benzinga.com/news/entertainment/25/06/45740848/tom-cruises-mission-impossible-the-final-reckoning-smashes-china-box-office-with-25-6-million-opening-sets-imax-record-for-hollywood-films-in-2025" rel="noreferrer noopener">renewed interest in Hollywood imports</a>.
Technology
Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) 
<path d="M19 19H5V5h7V3H5c-1.11 0-2 .9-2 2v14c0 1.1.89 2 2 2h14c1.1 0 2-.9 2-2v-7h-2v7zM14 3v2h3.59l-9.83 9.83 1.41 1.41L19 6.41V10h2V3h-7z"></path> is gearing up for its annual Worldwide Developers Conference (WWDC), set to run from June 9 to June 13. The highly anticipated event will once again be held online, with the keynote streaming live from Apple <a href="https://www.benzinga.com/markets/tech/25/06/45787471/apples-wwdc-2025-when-how-to-watch-the-keynote-and-what-to-expect" target="_blank" rel="noreferrer noopener">Park in Cupertino, California</a>.
Deepwater's&nbsp;Gene Munster, a prominent tech analyst, suggested that the Apple‘s WWDC would focus on traditional operating system updates, leaving investors questioning <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45764870/apple-has-at-least-two-years-before-losing-customers-despite-its-several-ai-missteps-says-gene-munster-heres-why" rel="noreferrer noopener">Apple's timeline for losing customers</a>.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has brought generative video tools to everyday users by integrating OpenAI&#8217;s Sora model into its Bing app, just weeks after Google made headlines with its<a href="https://www.benzinga.com/markets/tech/25/06/45739990/microsoft-brings-openais-sora-to-the-masses-with-free-ai-video-generator-in-bing-app-after-googles-veo-3-wowed-the-internet-heres-what-you-can-and-cant-do" target="_blank" rel="noreferrer noopener"> stunning </a><a href="https://www.benzinga.com/markets/tech/25/06/45739990/microsoft-brings-openais-sora-to-the-masses-with-free-ai-video-generator-in-bing-app-after-googles-veo-3-wowed-the-internet-heres-what-you-can-and-cant-do" target="_blank" rel="noreferrer noopener">Veo 3</a><a href="https://www.benzinga.com/markets/tech/25/06/45739990/microsoft-brings-openais-sora-to-the-masses-with-free-ai-video-generator-in-bing-app-after-googles-veo-3-wowed-the-internet-heres-what-you-can-and-cant-do" target="_blank" rel="noreferrer noopener"> video AI</a>.
Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is reportedly making a big push for exclusive content in preparation for the launch of its new premium virtual reality headset next year, which aims to <a href="https://www.benzinga.com/markets/tech/25/06/45786646/meta-is-talking-exclusive-vr-content-with-disney-other-hollywood-studios-as-it-prepares-to-launch-its-apple-vision-pro-rival-report" target="_blank" rel="noreferrer noopener">compete with </a><a href="https://www.benzinga.com/markets/tech/25/06/45786646/meta-is-talking-exclusive-vr-content-with-disney-other-hollywood-studios-as-it-prepares-to-launch-its-apple-vision-pro-rival-report" target="_blank" rel="noreferrer noopener">Apple&#8217;s</a><a href="https://www.benzinga.com/markets/tech/25/06/45786646/meta-is-talking-exclusive-vr-content-with-disney-other-hollywood-studios-as-it-prepares-to-launch-its-apple-vision-pro-rival-report" target="_blank" rel="noreferrer noopener"> </a><a href="https://www.benzinga.com/markets/tech/25/06/45786646/meta-is-talking-exclusive-vr-content-with-disney-other-hollywood-studios-as-it-prepares-to-launch-its-apple-vision-pro-rival-report" target="_blank" rel="noreferrer noopener">Vision Pro</a>.
Artificial Intelligence (AI)
Anthropic, the artificial intelligence startup backed by Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Google, has reportedly reached a $3 billion annualized revenue run rate, just months after hitting <a href="https://www.benzinga.com/cannabis/25/06/45714044/amazon-and-google-backed-ai-startup-anthropic-reportedly-hits-3-billion-in-annualized-revenue-wheres-chatgpt-parent-openai-at" target="_blank" rel="noreferrer noopener">$1 billion in December 2024</a>.
Investor&nbsp;Kevin O&#8217;Leary&nbsp;has dismissed France&#8217;s shorter workweek as &#8220;the stupidest idea I have ever heard.&#8221; However, several other leaders and tech executives believe artificial intelligence <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45737860/kevin-oleary-blasts-four-day-workweek-as-the-stupidest-idea-ever-heres-why-mr-wonderful-thinks-the-concept-doesnt-work-in-the-era-of-remote-work" rel="noreferrer noopener">could soon make it a reality</a>.
Apple co-founder&nbsp;Steve Jobs&#8217;&nbsp;widow,&nbsp;Laurene Powell Jobs, seems to have endorsed a&nbsp;mysterious AI hardware&nbsp;device being developed by&nbsp;Jony Ive&nbsp;and&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45738323/steve-jobs-widow-is-backing-jony-ives-mystery-ai-device-even-though-shes-still-very-close-to-apple-leadership-if-it-wasnt-for-laurene" rel="noreferrer noopener">OpenAI&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45738323/steve-jobs-widow-is-backing-jony-ives-mystery-ai-device-even-though-shes-still-very-close-to-apple-leadership-if-it-wasnt-for-laurene" rel="noreferrer noopener">CEO&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45738323/steve-jobs-widow-is-backing-jony-ives-mystery-ai-device-even-though-shes-still-very-close-to-apple-leadership-if-it-wasnt-for-laurene" rel="noreferrer noopener">Sam Altman</a>.
Former&nbsp;OpenAI&nbsp;researcher&nbsp;Andrej Karpathy&nbsp;shared a practical breakdown of&nbsp;ChatGPT&#8217;s&nbsp;various model versions, helping users understand which one to use <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45738811/chatgpt-user-former-openai-researcher-andrej-karpathy-breaks-down-which-version-works-best-for-each-task" rel="noreferrer noopener">based on their specific needs</a>.
Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) CEO Alex Karp expects the artificial intelligence arms race between the U.S. <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805623/palantir-ceo-warns-us-china-ai-race-will-have-one-winner-urges-west-to-keep-up" target="_blank" rel="noreferrer noopener">and China to have one winner</a>.

AVGO

GOOG

MSFT

PLTR

RBRK

Consumer Tech News (Jun 2-Jun 6): Amercia Witnesses Surge In Layoffs, Tesla Norway Sales Jumps 213% In May & More

If <a href="https://www.benzinga.com/money/retirement-planning-guide">your retirement account</a> took a small hit this past quarter, you're not alone — but you may not need to worry. Market ups and downs have led to a dip in retirement balances for many Americans, but overall savings habits remain strong.
Fidelity's latest quarterly retirement <a href="https://www.fidelity.com/about-fidelity/Q1-2025-retirement-analysis">report</a> — based on data from over 50 million retirement accounts — shows that average balances in 401(k), IRA, and 403(b) accounts declined slightly in Q1 2025. For example, the average 401(k) balance dropped to around $122,000, down from about $127,000 at the end of last year. The same trend showed up in IRAs and 403(b)s as well. The cause? Mostly short-term market volatility.
The encouraging news is that people are still saving at solid rates. In fact, the average <a href="https://www.benzinga.com/money/average-401k-balance-by-age">401(k) savings rate</a> hit a new high of 14.3%, and 403(b) savers held steady at 11.8%. That tells us that, despite the market noise, most people are staying focused on their long-term goals and continuing to contribute to their retirement plans.
This kind of consistency matters. Retirement planning is a long game, and these dips are a normal part of the process. Even with this quarter's decline, account balances remain significantly higher than they were five years ago — a reminder that riding out the market's ups and downs can pay off over time.
So what's the takeaway? Yes, balances were down a bit this quarter, but the fundamentals are strong. Savers are still putting money away, and they're doing so at record levels. If you're sticking to your plan, making regular contributions, and staying invested, you're likely in good shape.
In short, the market may wobble — but retirement savers aren't panicking. They're playing the long game, and that's often the smartest move.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/m-a/25/06/45822510/deal-dispatch-tv-stations-for-sale-this-buyer-wants-seconds-on-pasta">Deal Dispatch: TV Stations For Sale, This Buyer Wants Seconds On Pasta</a></li>
</ul>
Photo: Shutterstock

Financial Advisors

Retirement Savers Aren't Backing Down Despite Market Swings

In the latest development in their public feud, Elon Musk has taken down a series of social media posts that were critical of President Donald Trump.
What Happened: On Saturday, Musk deleted several posts from his social media account, which boasts a following of 200 million users. These posts, which ignited a public feud with Trump on Thursday, included allegations of Trump&#8217;s involvement in the Epstein files and calls for his impeachment.
One of the now-erased posts read, &#8220;@realDonaldTrump&nbsp;is in the Epstein files.&nbsp;That is the real reason&nbsp;they have not been made&nbsp;public. Have a nice day,&nbsp;DJT!&#8221; A link to this post now leads to a non-existent page.
While Musk has not provided a reason for the deletions, he did mention that he would &#8220;apologize profusely as soon as&nbsp;there is a full dump&nbsp;of the Epstein files.&#8221;
Despite the removal of several posts, a post criticizing Trump&#8217;s tariffs remained visible on Musk&#8217;s timeline on Saturday afternoon. Musk predicted, &#8220;The&nbsp;Trump tariffs will cause a&nbsp;recession in the second half&nbsp;of this year.&#8221;
Also Read: <a href="https://www.benzinga.com/news/politics/25/06/45828038/trump-vs-musk-trump-hints-at-canceling-musks-contracts-well-take-a-look-at-everything-hes-got-a-lot-of-money-heres-how-musk-responded">Trump vs. Musk: Trump Hints at Canceling Musk&#8217;s Contracts: &#8216;We&#8217;ll Take a Look at Everything, He&#8217;s Got a Lot of Money.&#8217; Here&#8217;s How Musk Responded</a>
The deletions occurred as Trump warned Musk of &#8220;very serious consequences&#8221; if he supports Democrats in the upcoming midterms, as&nbsp;reported by NBC News on&nbsp;Saturday. 
Trump also ruled out the possibility of repairing his relationship with Musk.
Why It Matters: The public feud and subsequent social media scrubbing by Musk adds another layer to the complex relationship between the Tesla CEO and the President. 
This incident may have implications for Tesla&#8217;s relationship with the government and its policies, especially considering Musk&#8217;s outspoken criticism of Trump&#8217;s tariffs. 
The situation also raises questions about the role and influence of high-profile CEOs in political discourse.
Read Next
<a href="https://www.benzinga.com/markets/25/06/45827390/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession-up" target="_blank" rel="noreferrer noopener">Musk Vs. Trump: Tesla Suffers Record $152B One-Day Crash As CEO Warns Tariffs ‘Will Cause A Recession'</a>
Image: Shutterstock

Elon Musk Scrubs His Social Media of Trump-Related Posts Amid Public Feud

The escalating public feud between Elon Musk and President Donald Trump has prompted a response from billionaire investor Mark Cuban.
What Happened: Cuban&#8217;s comment came during a brief exchange with TheStreet Roundtable on Friday. When asked about the Musk-Trump spat, Cuban simply <a href="https://roundtable.rtb.io/">replied</a>, &#8220;All I'll say is that I bought a bunch of popcorn.&#8221;
The feud between Musk and Trump intensified this week after Musk publicly criticized Trump&#8217;s administration over the &#8220;One Big Beautiful Bill.&#8221;
In response,&nbsp;Trump threatened to terminate billions&nbsp;in government contracts with Musk&#8217;s companies, including&nbsp;SpaceX&nbsp;and&nbsp;Tesla Inc.
Musk further escalated the situation with a shocking social media post claiming that&nbsp;Trump is in the Epstein&nbsp;files. 
This revelation&nbsp;sent shockwaves across social media&nbsp;and markets, causing Tesla shares to drop by 14% and&nbsp;DJT, the stock tied to&nbsp;Trump&#8217;s media company, to fall over 8%. Bitcoin also saw a near 4% slip.
Also Read: <a href="https://www.benzinga.com/news/politics/25/06/45827968/trump-vs-musk-betting-markets-anticipate-next-move-in-musk-trump-feud-predict-low-chances-of-musk-forming-political-party">Trump vs. Musk: Betting Markets Anticipate Next Move in Musk-Trump Feud, Predict Low Chances of Musk Forming Political Party</a>
Despite the significant influence&nbsp;both Trump and Musk have&nbsp;in the crypto and tech&nbsp;markets, this public fallout&nbsp;has caught even their closest&nbsp;allies by surprise.
Why It Matters: The feud between these two influential figures has the potential to impact not only their personal reputations but also the companies they represent. Musk&#8217;s Tesla and SpaceX, as well as Trump&#8217;s media company, are all at risk of financial repercussions due to this public spat. 
The significant drop in Tesla&#8217;s shares and DJT stock following Musk&#8217;s controversial social media post is a clear indication of the potential damage such public feuds can cause. 
Furthermore, the ripple effect on Bitcoin&#8217;s value shows that the influence of these two figures extends beyond their respective companies and into the broader market. 
As the feud continues to unfold, investors and market watchers will be keeping a close eye on the potential fallout.
Read Next
<a href="https://www.benzinga.com/news/politics/25/06/45827849/public-fight-between-trump-and-musk-rocks-tesla-spacex-here-are-the-biggest-bombshells">Public Fight Between Trump and Musk Rocks Tesla, SpaceX: Here Are the Biggest Bombshells</a>
Image: Shutterstock/Kathy Hutchins

Mark Cuban Reacts to Elon Musk-Donald Trump Feud

These ten mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol class="wp-block-list">
<li>Applied Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) shares escalated 102.93% following the announcement of a long-term <a href="https://www.benzinga.com//node/45817409" target="_blank" rel="noreferrer noopener">infrastructure agreement with</a> AI hyperscaler CoreWeave Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>).</li>
<li>Kymera Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KYMR#NASDAQ">KYMR</a>) stock jumped 60.66%. The company revealed clinical results from the Phase 1 healthy volunteer study of KT-621, its first-in-class <a href="https://www.benzinga.com//node/45724030" target="_blank" rel="noreferrer noopener">oral STAT6 degrader medicine</a>. Morgan Stanley and B. Riley Securities upgraded the stock to Overweight and Buy, respectively, and the company <a href="https://www.benzinga.com/quote/kymr/analyst-ratings" target="_blank" rel="noreferrer noopener">received several price forecast bumps</a>.</li>
<li>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>) stock increased 34.04% last week, when Silver rocketed past $35.60 an ounce Thursday, a level last seen in 2012. Gold bull Peter Schiff <a href="https://www.benzinga.com//node/45792880" target="_blank" rel="noreferrer noopener">says it's just warming up</a>.</li>
<li>AIFU Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIFU#NASDAQ">AIFU</a>) shares rose 31.78%.</li>
<li>Recursion Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>) shares increased 31.34% after the company announced the launch of <a href="https://www.benzinga.com//node/45814396" target="_blank" rel="noreferrer noopener">Boltz-2 in partnership with MIT</a>.</li>
<li>Cleveland-Cliffs Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) stock grew 30.36% after U.S. President Donald Trump announced <a href="https://www.benzinga.com//node/45724684" target="_blank" rel="noreferrer noopener">plans to double steel tariffs</a>.</li>
<li>Zai Lab Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZLAB#NASDAQ">ZLAB</a>) shares upped 26.44%. The company and NovoCure Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVCR#NASDAQ">NVCR</a>) revealed additional data on Saturday from the Phase 3 PANOVA-3 trial of Tumor Treating Fields (TTFields) <a href="https://www.benzinga.com//node/45730717" target="_blank" rel="noreferrer noopener">therapy for pancreatic cancer</a>.</li>
<li>Blueprint Medicines Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) stock rose 26.15% after the company announced that Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) <a href="https://www.benzinga.com//node/45719179" target="_blank" rel="noreferrer noopener">would acquire them for $9.5 billion</a>.</li>
<li>Sezzle Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>) stock escalated 23.78% last week.</li>
<li>Riot Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) stock rose 22.06%. The company mined 514 bitcoin in May, up 11% month over month and <a href="https://www.benzinga.com//node/45752589" target="_blank" rel="noreferrer noopener">139% year over year</a>.</li>
</ol>
Photo by T. Schneider via Shutterstock

Mid Cap

AIFU

APLD

BPMC

CRWV

KYMR

NVCR

RIOT

RXRX

SEZL

ZLAB

Applied Digital And Riot Platforms Are Among Top 10 Mid-Cap Gainers Last Week (Jun 2-Jun 6): Are The Others In Your Portfolio?

Press Releases

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Gaotu Techedu Files Its Annual Report on Form 20-F

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GOTU

KTTA

PRSO

TBIO

Afya

American Public Education, Inc. - Common Stock

American Public Education

Adtalem Global Education Inc. Common Stock

Adtalem Glb Education

Bright Horizons Family Solutions Inc. Common Stock

Bright Horizons Family

51Talk Online Education Group American depositary shares, each representing 60 Class A ordinary shares

51 Talk Online Education

Coursera

Youdao, Inc. American Depositary Shares, each representing one Class A Ordinary Share

Youdao

Duolingo

New Oriental Education & Technology Group, Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands)

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