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NFT Ltd Formerly Takung Art Co Ltd operates an online electronic platform for offering and trading artwork. Through its platform, the company allows artists/art dealers/owners to access a much bigger art trading market where artists can engage with a wide range of investors. Its platform also invests in high-end artwork accessible to ordinary people without financial resources. The company's trading platforms comprise the sale of calligraphies and paintings, jewelry, and precious stones. It generates revenue in the form of services in connection with the offering and trading of artwork on its system, consisting of listing fees, trading commissions, and management fees.

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Dan Ives said on Sunday that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) are among the most groundbreaking tech firms globally. However, Ives suggests that Elon Musk should step back from governmental roles and refocus on Tesla. 
What Happened: Ives took to X and highlighted the importance of Musk&#8217;s involvement in Tesla&#8217;s upcoming earnings call. 
Ives stated, &#8220;Musk needs to leave the govt, take a step back on DOGE, and get back to being CEO of Tesla full-time in our view.&#8221; This comment comes amid growing concerns about Musk&#8217;s attention being diverted from Tesla to his role in the Department of Government Efficiency under President Donald Trump.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We believe Tesla along with Nvidia are two of the most disruptive technology companies on the globe over the coming years. BUT&#8230;.Musk needs to leave the govt, take a step back on DOGE, and get back to being CEO of Tesla full-time in our view. Big earnings call for Musk Tuesday
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1914113029542760495?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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Reports have indicated that Musk&#8217;s focus on DOGE has frustrated investors, as they believe it detracts from his responsibilities at Tesla. Recent discussions suggest that Musk&#8217;s role in the government might soon conclude, potentially allowing him to dedicate more time to Tesla.
See Also: <a href="https://benzinga.com/tech/25/04/44836493/rivians-us-centric-supply-chain-could-offer-edge-amid-trumps-auto-tariffs-says-ceo-rj-scaringe" target="_blank" rel="noreferrer noopener">Rivian&#8217;s &#8216;US-Centric&#8217; Supply Chain Could Offer Edge Amid Trump&#8217;s Auto Tariffs, Says CEO RJ Scaringe </a>
Why It Matters: Ives&#8217; remarks come at a critical time for Tesla, as the company prepares for a significant first-quarter earnings call on Tuesday after market close.
Tesla&#8217;s stock has <a href="https://www.benzinga.com/content/44863730/tesla-stock-eyes-breakout-with-earnings-on-deck">shown resilience</a>, closing around $241 on Thursday, and analysts are closely watching for potential breakout signals. Even so, Tesla shares have fallen over 36% since the year began.
The company&#8217;s recent delivery numbers were disappointing, leading to concerns about its future performance. Ives, a prominent analyst, has reiterated an Outperform rating on Tesla, <a href="https://www.benzinga.com/markets/25/03/44346423/teslas-biggest-bull-frustrated-with-elon-musks-focus-on-doge-over-company-patience-wearing-thin">emphasizing the need</a> for Musk to address the brand crisis. Wedbush has a $550 price target for Tesla.
Benzinga Edge Stock Rankings indicate Tesla has a Momentum of 92.5 and Growth of 67.70. How does it compare with others in the EV landscape? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here</a> and discover for yourself.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="792" height="108" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/20210256/Screenshot-2025-04-21-at-10.02.39.png" alt="" class="wp-image-878711" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/20210256/Screenshot-2025-04-21-at-10.02.39.png 792w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/20210256/Screenshot-2025-04-21-at-10.02.39-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/20210256/Screenshot-2025-04-21-at-10.02.39-768x105.png 768w" sizes="(max-width: 792px) 100vw, 792px" /></a></figure>
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Photo via Shutterstock.com
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44891314/dhl-says-its-suspending-global-shipments-to-us-valued-more-than-800-as-customs-updates-cause-multi-day-transit-delays">DHL Says It&#8217;s Suspending Global Shipments To US Valued More Than $800 As Customs Updates Cause Multi-Day Transit Delays</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

News

Politics

Tech

NVDA

TSLA

Elon Musk 'Needs To Leave' The Government And Get Back To Being CEO Of Tesla, Says Dan Ives Ahead Of Q1 Earnings

Editor&#8217;s note: The headline has been revised for grammatical accuracy.
DHL&nbsp;has temporarily halted&nbsp;business-to-consumer shipments to the&nbsp;United States&nbsp;with a customs value exceeding&nbsp;$800. This suspension, effective Monday, April 21, 2025, is a response to recent changes in U.S. Customs regulations.
What Happened: DHL&#8217;s decision comes in the wake of updated U.S. Customs regulations that have caused considerable transit delays for shipments valued over $800, said the global logistics company in an update on its website. 
These changes affect shipments originating from any location and apply solely to B2C&nbsp;shipments to private individuals in&nbsp;the U.S.&nbsp;Business-to-business shipments to U.S.&nbsp;companies&nbsp;are not affected by the&nbsp;suspension, although they may also face&nbsp;delays.
As of April 5, 2025, all&nbsp;shipments to the U.S. with&nbsp;a declared customs value exceeding&nbsp;$800 now require formal entry processing, a reduction from the previous $2,500 threshold. This adjustment has led to&nbsp;a surge in formal customs&nbsp;clearances, which DHL is actively managing. Despite efforts to scale operations, shipments over $800 may still experience multi-day delays.
DHL said it is working diligently to address these challenges and will provide&nbsp;updates as the situation evolves.&nbsp;The temporary suspension is a measure to manage the increased demand for formal customs processing.
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/44890654/ex-cellmate-says-epstein-was-offered-plea-deal-for-information-on-trump-give-them-something-on-trump-to-get-him-impeached" target="_blank" rel="noreferrer noopener">Ex-Cellmate Says Epstein Was Offered Plea Deal for Information on Trump: ‘Give Them Something on Trump To Get Him Impeached&#8217; </a>
Why It Matters: Recently, the&nbsp;<a href="https://www.benzinga.com/news/global/25/04/44830828/us-is-unreasonable-bullying-and-imposing-tariffs-abusively-says-hong-kong-post-operator">Hong Kong Post</a>&nbsp;announced a suspension of sea mail services to the U.S., citing &#8220;bullying&#8221; tariffs imposed by the United States.
The&nbsp;<a href="https://www.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle">Trump administration</a>&nbsp;recently increased tariffs on Chinese imports by up to 245%, intensifying the trade battle between the two nations. This has led to concerns about potential economic repercussions.
Furthermore,&nbsp;<a href="https://www.benzinga.com/news/management/25/04/44871428/blackstone-president-warns-of-recession-risk-tied-to-trumps-tariffs">Jonathan Gray</a>, president of Blackstone Inc., warned that the ongoing uncertainty surrounding Trump&#8217;s tariff policies could heighten the risk of a recession. The longer these global tariff uncertainties persist, the greater the potential for market disruption and unintended consequences throughout the financial system.
Photo Courtesy: Robin Guess On Shutterstock.com
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<li>Did You Know? Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

DHL Says It's Suspending Global Shipments To US Valued More Than $800 As Customs Updates Cause Multi-Day Transit Delays (CORRECTED)

On paper, Americans <a href="https://www.benzinga.com/personal-finance/25/02/43539942/are-you-rich-heres-what-americans-think-you-need-to-be-considered-wealthy-2">have never been richer</a>. According to the Federal Reserve's latest <a href="https://www.federalreserve.gov/publications/files/scf23.pdf">Survey of Consumer Finances</a>, the average U.S. household net worth hit $1.06 million in 2022 — a 23% jump from $868,000 just three years earlier.
That's right. Millionaire status. Technically.
The survey, <a href="https://www.federalreserve.gov/newsevents/pressreleases/other20250228a.htm">conducted every three years</a>, captures the total value of assets — from homes and retirement accounts to vehicles and brokerage balances — minus all debts. It includes everything from checking accounts and 401(k)s to investment properties, annuities, and even boats and RVs. But here's the catch: averages don't tell the whole story.
In reality, this number is skewed by the ultra-wealthy. While the average household may clear seven figures, the median net worth — the point where half of households have more and half have less — was just $192,900. That's a pretty big gap, and it says a lot more about how people are actually living.
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<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
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<h2 class="wp-block-heading">Net Worth Is Up. So Are Prices.</h2>
Even with growing net worths and slightly higher wages, Americans are feeling the squeeze. Take housing, for example. <a href="https://www.zillow.com/home-values/102001/united-states/">According to Zillow</a>, the average home value in the U.S. is now $361,263, up 2.1% in the last year. Homes are going under contract in just 26 days — if buyers can afford them.
Ownership is becoming so expensive that younger generations are backing out entirely. The National Association of Realtors says the <a href="https://www.benzinga.com/real-estate/24/11/41876775/u-s-homebuyers-are-now-56-on-average-as-younger-generations-struggle-with-wildly-unaffordable-market-housing-expert-warns">average age of a homebuyer is now 56</a>, up from 49 in 2023. That's the highest it's ever been, and a clear sign that first-time buyers are aging out before they even get in.
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
Then there are the cars. Kelley Blue Book reports that the average new vehicle now costs $48,039, up 43% in the last decade. That's nearly a full year's salary for many Americans.
<h2 class="wp-block-heading">Wages Aren't Keeping Pace</h2>
According to the <a href="https://www.bls.gov/news.release/wkyeng.nr0.htm">U.S. Bureau of Labor Statistics</a>, the median weekly wage for full-time workers in Q1 2025 was $1,194 — or about $62,000 per year. While that's up 4.8% from last year, inflation rose 2.7% in the same period. So yes, there's some real wage growth, but it's not enough to offset rising costs across housing, insurance, food, and transportation.
And for many households, those net worth numbers are tied up in assets they can't touch — like a primary residence or retirement accounts. They may technically have a high net worth, but it doesn't help much at the grocery store checkout.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
<h2 class="wp-block-heading">The Disconnect</h2>
The growing gap between what the data says and what people feel is at the heart of America's current economic mood. You might be a millionaire — but not in a way that makes life easier to afford.
As prices rise to reflect the higher averages, they can leave the majority behind. The typical household isn't upgrading to a luxury car or scooping up investment properties. They're just trying to stretch a paycheck far enough to fill the gas tank and maybe save a little for the future.
So yes, the "average" American household is a millionaire. But for most people, it doesn't feel like wealth. It feels like survival.
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<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
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Image: Shutterstock

Personal Finance

The Average Household Is A Millionaire With A $1.06 Million Net Worth, According To The Fed — So Why Do People Still Feel Broke?

It seems that Joe Rogan isn&#8217;t buying the idea that there&#8217;s some hidden genius behind President Donald Trump&#8217;s actions, especially not when it comes to the economy. On a recent <a href="https://www.youtube.com/watch?v=nNxzn-vRodY">episode</a> of &#8220;The Joe Rogan Experience,&#8221; Rogan and comedian Ron White took turns joking about what they see as a chaotic and surreal moment in American leadership.
&#8220;It&#8217;s so baffling. It&#8217;s so crazy. Like, what is going on? The whole world is mad at us,&#8221; said Rogan.
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<li>Invest in the future of digital engagement: <a href="https://www.benzinga.com/money/vatom-adv">Own a piece of the $100 billion Metaverse for just $500</a>.</li>
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<h2 class="wp-block-heading">Mocking the Commander-in-Chief</h2>
&#8220;Trump&#8217;s playing golf, and in between swings, he&#8217;s on the phone with presidents of countries. &#8216;We&#8217;re going to need more money!'&#8221; Rogan said, mocking the casual tone Trump takes with serious matters. White jumped in, saying, &#8220;Yeah, that&#8217;s what somebody told me the other day. Is he playing checkers? Is he playing chess?&#8221; Then he answered his own question: &#8220;He&#8217;s playing golf!&#8221;
Rogan laughed and followed up with a jab: &#8220;He&#8217;s playing golf. Like, what does that mean? Everybody wants to think there&#8217;s some, like, grand plan to it.&#8221; He started to explain, &#8220;Well, they think the grand plan is&#8230;&#8221; before veering off to <a href="https://www.benzinga.com/news/25/04/44816385/joe-rogan-says-ross-perot-was-right-american-manufacturing-collapsed-because-greedy-executives-sent-jobs-ove">talk about Ross Perot</a> and the 1992 presidential elections.&nbsp;
Rogan has hosted political guests from all sides during the years and, despite mocking and criticizing Trump over the years, has endorsed him in the 2024 presidential elections.&nbsp;
Trending: With high-demand properties in the Midwest, Bam Capital has delivered 2.46x equity multiples in just over 3 years. No losses. No missed payments. <a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">Learn more about becoming an investor today</a>.&nbsp;
<h2 class="wp-block-heading">Golf and the Tariff Fallout</h2>
Their exchange painted a picture of a president who appears more focused on his personal leisure than the serious economic signals flashing red. The timing of their comments aligned with Trump&#8217;s latest round of tariffs, announced just days earlier, that rocked the markets and <a href="https://www.benzinga.com/personal-finance/25/04/44611151/recession-fears-surge-what-consumers-and-cfos-expect-how-it-could-impact-bitcoin-and-the-crypto-market">raised fears of a potential recession</a>. Experts say the tariffs are likely to drive up prices for American consumers and strain global trade relationships even further.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!! Donald Trump Truth Social 4/04/25 08:44 AM
&mdash; Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) <a href="https://twitter.com/TrumpDailyPosts/status/1908140871976939983?ref_src=twsrc%5Etfw">April 4, 2025</a></blockquote>
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While the markets reacted negatively, Trump spent the weekend at his Mar-a-Lago estate and nearby golf club. He also took to Truth Social with a now-viral post declaring, &#8220;THIS IS A GREAT TIME TO GET RICH,&#8221; despite financial uncertainty rippling through retirement accounts and investment portfolios.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
<h2 class="wp-block-heading">Lawmakers Push Back</h2>
The president&#8217;s tone didn't sit well with many lawmakers. Sen. Ben Ray Luján (D-NM) criticized Trump's actions, saying, &#8220;While the American people are trying to put food on the table, I see that <a href="https://www.benzinga.com/markets/25/04/44657060/critics-hit-trump-for-golf-trip-amid-tariff-chaos-troop-deaths-he-fiddles-while-rome-burns">Donald Trump's out there playing golf</a>. The president should be listening to people across the country. Maybe he should go into a grocery store, do some walking, talking to folks.&#8221;
Rep. Jasmine Crockett (D-TX) <a href="https://www.benzinga.com/news/25/02/44008179/hes-lining-his-pockets-rep-jasmine-crockett-slams-elon-musk-for-securing-nearly-1-billion-in-us-government-contracts-in-just-2-weeks">echoed that frustration</a> during a recent House subcommittee hearing on government efficiency. She <a href="https://www.youtube.com/watch?v=PDsEtHvpl4U">pointed out</a> that Trump&#8217;s golf trips have cost taxpayers roughly $26 million this year. &#8220;The last time I checked, we're not getting anything in return for that,&#8221; she said. &#8220;Maybe we need to talk about the president and his golfing habits&#8230; He has decided that he wanted to play games while the rest of us are really trying to make sure that we can serve the American people.&#8221;
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Image: Shutterstock

Joe Rogan Paints A Picture Of Trump: In Between Golf Swings, He's On The Phone With Other Presidents: 'We're Going To Need More Money!'

According to a latest report, insiders including&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&#8217;s Mark Zuckerberg,&nbsp;Oracle Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>)&#8217;s Safra Catz, and&nbsp;JPMorgan Chase &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)&#8217;s Jamie Dimon offloaded shares worth billions prior to President Donald Trump&#8216;s tariff declarations that sent shockwaves through the markets.
Zuckerberg,&nbsp;through his Chan Zuckerberg Initiative&nbsp;and its associated foundation, sold 1.1 million shares valued at $733 million in Q1. 
The sales took place&nbsp;in January and February when&nbsp;Meta's stock was still trading&nbsp;above $600. Since then, the share price has plummeted by 32% amid a wider market selloff, <a href="https://www.bloomberg.com/news/articles/2025-04-20/zuckerberg-dimon-are-among-top-sellers-ahead-of-tariff-stock-rout?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a> Bloomberg. 
Oracle's CEO, Catz, was another significant seller, offloading&nbsp;3.8 million shares worth $705&nbsp;million before Oracle's stock fell by over 30%.&nbsp;Dimon, CEO of the largest&nbsp;US bank, sold about $234&nbsp;million of stock during the&nbsp;quarter.
Also Read: <a href="https://www.benzinga.com/markets/25/04/44780349/trumps-tariff-policies-fuel-economic-concerns-economists-expect-slower-growth-ahead">Trump&#8217;s Tariff Policies Fuel Economic Concerns, Economists Expect Slower Growth Ahead</a>
The first quarter was a&nbsp;tumultuous period for markets. The uncertainty over tariffs leading up to April 2, Trump's so-called Liberation Day, prompted a selloff that wiped trillions off global markets. 
The world's richest person, Elon Musk,&nbsp;has seen his wealth tumble&nbsp;$129 billion this year as tariffs&nbsp;hit tech industry stocks hard.
Despite the selloff, some billionaire insiders are buying shares at depressed prices to increase their stakes.&nbsp;Insider selling overall was down&nbsp;compared with Q1&nbsp;of 2024, which saw 4,702&nbsp;insiders unload shares worth a&nbsp;total of $28.1 billion, compared&nbsp;with $15.5 billion from 3,867&nbsp;sellers this year, according to&nbsp;Washington Service.
These massive sales by insiders ahead of the tariff announcements raise questions about the timing and knowledge of the insiders. The significant drop in share prices following the tariff announcements has led to substantial losses for those who held onto their shares. 
However, it&#8217;s worth noting that insider selling was down compared to the same period in 2024, suggesting a more complex market dynamic at play.
Read Next
<a href="https://www.benzinga.com/25/04/44652222/trumps-tariffs-may-shift-us-spending-from-goods-to-services-creating-uncertainty-for-ecommerce-and-advertising-industries-analyst-warns" target="_blank" rel="noreferrer noopener">Tariffs To Impact End Demand: Goldman Sachs Analyst Expects Drag On Corporate Spending, Hiring</a>
Image: Shutterstock/Rokas Tenys

Markets

ORCL

Zuckerberg, Dimon Sold Shares Ahead Of Stock Rout Triggered By Trump Tariff Talk

JPMorgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has predicted that the ongoing tariff war initiated by President Donald Trump could lead to some agreements between the US and its trade partners, along with a significant rise in tax rates.
What Happened: The global investment strategy team at JPMorgan Wealth Management has projected that the effective tax rate could surge to between 10% and 20%, a marked increase from the 2% at the start of the year. This anticipated rise is in line with Wall Street&#8217;s estimates prior to &#8216;Liberation Day&#8217;.
President Trump has been advocating this protectionist shift as a robust negotiation strategy to secure improved trade deals.
According to the report <a href="https://www.businessinsider.com/how-will-trump-trade-war-end-tariffs-recession-scenario-jpmorgan-2025-4">by</a> Insider, JPMorgan&#8217;s forecast suggests that by securing some deals and subsequently reducing the tariff rates to a 10%-to-20% baseline, the US could narrowly evade a recession.
However, the firm has also cautioned that factors like unemployment and inflation could still hamper economic growth. 
Also Read: <a href="https://www.benzinga.com/markets/25/04/44780349/trumps-tariff-policies-fuel-economic-concerns-economists-expect-slower-growth-ahead">Trump&#8217;s Tariff Policies Fuel Economic Concerns, Economists Expect Slower Growth Ahead</a>
For investors looking to navigate this unstable environment, JPMorgan proposes structured notes for defensive stock exposure and income generation via options premiums. 
The firm also indicates that hedge funds could take advantage of market mispricings and provide diversification during market downturns.
Why It Matters: The outcome of the trade war has significant implications for the global economy. The predicted agreements could potentially ease trade tensions and foster global economic stability. 
However, the anticipated rise in tax rates could increase the cost of goods, affecting consumers and businesses alike.
The possibility of avoiding a recession could bring relief to investors and the financial markets. However, the potential negative impacts of unemployment and inflation on economic growth remain a concern. 
JPMorgan&#8217;s recommendations for navigating this volatile environment could provide valuable insights for investors.
Read Next
<a href="https://www.benzinga.com/25/04/44652222/trumps-tariffs-may-shift-us-spending-from-goods-to-services-creating-uncertainty-for-ecommerce-and-advertising-industries-analyst-warns" target="_blank" rel="noreferrer noopener">Tariffs To Impact End Demand: Goldman Sachs Analyst Expects Drag On Corporate Spending, Hiring</a>

Donald Trump's Trade War: JPMorgan Predicts Deals, Higher Taxes and Potential Recession Avoidance

Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been under increasing scrutiny, and Ross Gerber isn't staying quiet. The CEO of Gerber Kawasaki Wealth and Investment Management voiced strong concerns in a recent Bloomberg <a href="https://www.youtube.com/watch?v=wqgGiOKrgLs">interview</a>, criticizing both Tesla's performance and its leadership.
<h2 class="wp-block-heading">"Nobody's Made Any Money in Tesla For a Long Time"</h2>
Gerber says he still owns Tesla stock for clients, but he's frustrated by its direction.
"Tesla stock is down 40% this year," he said. "The performance is, I think, directly related to the <a href="https://www.benzinga.com/news/25/03/44140016/tesla-stock-is-tumbling-and-dave-portnoy-is-calling-out-elon-musk-how-far-does-tsla-stock-have-to-crash-before-elon-goes-back-to-work">CEO [Elon Musk] not working at the company</a> and his outside activities. I don&#8217;t like Elon. It&#8217;s personal; the way he does things. That&#8217;s true, and I don&#8217;t align with him morally, but that is irrelevant of my investment in Tesla.&#8221;
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He also added that nobody&#8217;s made any money in Tesla for a long time.
He believes Musk's political activity and shifting focus away from Tesla have hurt the brand and driven away customers. "You'd have to be blind not to see that Elon's behavior is highly political and highly damaging to the brand," he told Bloomberg.
<h2 class="wp-block-heading">"I'm Getting Attacked Because of Elon's Behavior"</h2>
Gerber says the backlash he's received for voicing concerns is misdirected.
"I understand why retail investors at Tesla are frustrated with me," he told Bloomberg. "I find it horrible the fact that people are worried about having their vehicles vandalized, including me, because of Elon. I'm actually really getting attacked because of Elon's behavior."
Trending: <a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">This investment company boasts a 33.85% internal rate of return (IRR) for its realized projects, allowing accredited investors to earn passive returns and avoid the headaches of being a landlord.</a>
He added that the company has failed to effectively promote its new offerings. He called the <a href="https://www.benzinga.com/25/04/44809616/heres-how-the-new-2025-tesla-model-y-long-range-differs-from-the-limited-run-launch-edition">upgraded Model Y</a> "way better than the old one" and questioned why Tesla isn't advertising it properly.
<h2 class="wp-block-heading">Concerns Over Leadership And The Board</h2>
Gerber's criticism extends beyond Musk. He's taken aim at Tesla's board of directors, calling them negligent. "The board is 100% responsible," he <a href="https://x.com/GerberKawasaki/status/1907428713358373363">posted</a> on X earlier this month.
He also <a href="https://www.benzinga.com/news/25/03/44436256/tesla-may-be-tanking-but-robyn-denholm-is-winning-musks-hand-picked-tesla-chair-has-made-an-incredible-682-million-since-2014">criticized Chair Robyn Denholm</a>, accusing her of failing to represent shareholders and acting in Musk's interest alone. Gerber believes the company needs stronger governance to protect its long-term future.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
<h2 class="wp-block-heading">Still Wants Tesla to Succeed</h2>
Despite the frustration, Gerber told Bloomberg he's still rooting for the company. "I want to see Tesla succeed. That's the whole purpose of why I say these things and get criticized," he said. "I am emotional about it because I love Tesla."
He also emphasized his commitment to climate action, saying Tesla remains a critical player in the push for sustainable energy. But he warned that unless leadership and messaging improve, the brand might struggle to recover.
"Tesla needed to work to <a href="https://www.benzinga.com/news/25/04/44685455/tesla-sales-numbers-suck-says-ross-gerber-he-claims-the-tesla-brand-is-broken-because-of-the-board-that-should-be-removed-for-negligence">separate itself from Elon</a>," he said. "Now it might be too late."
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Image: Shutterstock

'I Don't Like Elon. Nobody's Made Any Money In Tesla For A Long Time,' Says Ross Gerber, Claims He's 'Attacked Because Of Elon's Behavior'

Scott Galloway isn't pulling any punches. In the latest <a href="https://www.youtube.com/watch?v=rntQzCvwwZA">episode</a> of the "Prof G Pod," the NYU professor and entrepreneur said April 9 will go down as "the greatest day of insider trading in history."
At the center of the storm is President Donald Trump's sudden decision to pause tariffs for most countries while simultaneously raising them on China. That announcement sent markets into a tailspin.
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<h2 class="wp-block-heading">Wild Swings Spark Suspicion</h2>
Galloway&#8217;s co-host cited <a href="https://www.wsj.com/livecoverage/stock-market-trump-tariffs-trade-war-04-09-25">Wall Street Journal</a> reporting that on April 9, the Dow Jones jumped nearly 8%, the S&amp;P 500 rose almost 10%, and the Nasdaq had its best day in 24 years, climbing 12%. The so-called "Magnificent Seven" stocks gained $1.8 trillion in value.&nbsp;
But by April 10 afternoon, the rally fizzled when <a href="https://www.benzinga.com/25/04/44755507/therell-be-a-transition-cost-and-transition-problems-admits-trump-amid-tariff-woes-while-bessent-hints-at-negotiation-deals">Trump raised China's tariff rate to 145%</a>. The Dow dropped 1,000 points, and the S&amp;P and Nasdaq gave back about 4% each.
&#8220;I think we&#8217;re going to find out that April 9th will go down in history as the greatest day of insider trading in history, where people were engaging in market manipulation and insider trading, trading on non-public material information because clearly, word got out,&#8221; he said.&nbsp;
Trending: Maker of a life-changing asthma device with 12,000+ patients waiting, FDA clearance, and a 67% drop in attacks — now <a href="https://www.benzinga.com/money/how-a-10k-bet-on-health-care-originals-could-have-skyrocketed-your-portfolio">taking final investors at just $1.52 per share.</a>
<h2 class="wp-block-heading">Trading on a Wink and a Nod?</h2>
Galloway and co-host Ed Elson said the timing of large options trades points to something more than luck. Someone, they said, made millions by buying zero-day call options on the S&amp;P 500 just hours before Trump announced the tariff pause.
Those trades exploded in value &#8220;by more than 2,000%.&#8221; And they weren't subtle.
"People made and lost about a third of a billion dollars just on one strike price," Galloway said. "It was clear someone knew what was going to happen&#8230; In a digital world, there will be evidence of this."
The <a href="https://www.benzinga.com/markets/equities/25/04/44728524/adam-schiff-and-elizabeth-warren-call-for-investigation-into-possible-insider-trading-by-trump-allies-as-markets-surge-after-90-day-tariff-pause-it-sure-looks-like-corruption">Democratic lawmakers are now calling for an investigation</a>, and while the traders remain anonymous for now, Galloway is convinced the trades weren't based on guesswork. He suspects someone with knowledge of the decision tipped off friends or donors.
"April 9 is going to be D-Day for insider trading," Galloway said. &#8220;I think that will come out about a week after the next president is inaugurated. I think the SEC and forensic accountants are going to find that there was so much bad sh&#x2A;t that went down [that day].
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<h2 class="wp-block-heading">When the Market Becomes a Meme</h2>
Beyond the trades, the podcast explored how much damage Trump's policy U-turns are doing to the U.S. economy. Elson said that &#8220;the president has turned our economy or our stock market into a meme stock&#8221; — surging and collapsing based on his tweets instead of company fundamentals.
They warned that while some traders might profit off volatility, average investors, especially those managing 401(k)s, got burned. April 7 was the fifth-largest 401(k) trading day in history, with many workers locking in losses by panic-selling during the dip.
<h2 class="wp-block-heading">The Real Economy Is Slowing</h2>
Galloway also pointed out what's happening off Wall Street: Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) <a href="https://www.benzinga.com/25/04/44733013/microsoft-shelves-1-billion-ohio-data-center-plans-amid-global-project-withdrawals-we-are-slowing-or-pausing-some-early-stage-projects">shelved a $1 billion data center project</a> in Ohio. <a href="https://www.benzinga.com/news/global/25/04/44635537/horrifying-consequence-of-trumps-tariffs-schumer-blames-trump-tariffs-for-stellantis-layoffs">Stellantis paused production</a> in Canada and Mexico, resulting in 900 U.S. layoffs. Audi halted shipments to the U.S., and Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) <a href="https://www.benzinga.com/media/25/04/44729831/amazon-halts-orders-worth-over-500000-from-china-vietnam-and-other-asian-countries-following-trumps-tariff-plans-report">canceled large vendor orders</a> across Asia.&nbsp;
Even <a href="https://www.benzinga.com/markets/25/04/44774555/hollywood-becomes-collateral-damage-in-trump-tariff-war-as-china-slashes-film-imports-says-us-action">Hollywood's feeling the pressure</a>. China plans to reduce imports of American films, which brought in $585 million last year alone. "All of this nonsense is happening in the stock market&#8230; meanwhile, the real economy is grinding to a halt," Elson said.
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Image: Shutterstock

AMZN

MSFT

'Clearly Word Got Out'—Scott Galloway Says' April 9 Will Go Down As The Greatest Day Of Insider Trading In History'

When markets took another nosedive, one investor turned to Reddit&#8217;s <a href="https://www.reddit.com/r/StockMarket/comments/1k14ov0/dow_drops_nearly_700_points_nasdaq_tumbles_3_in/">r/StockMarket</a> to ask what many were thinking: &#8220;The volatility is insane. How do we trade?&#8221;
What followed was a cascade of chaos, sarcasm, serious concern and trading advice that ranged from cautious to completely unhinged. But one comment summed up the mood best: &#8220;You&#8217;re riding a drunken horse toward a burning barn. Trade accordingly.&#8221;
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<h2 class="wp-block-heading">No Playbook, Just Mayhem</h2>
The post was sparked by a combination of tech sector weakness and rising fears about tariffs, inflation and Federal Reserve policy. A <a href="https://www.benzinga.com/tech/25/04/44856114/nvidia-says-it-follows-us-government-instructions-on-what-it-can-sell-and-where-amid-trade-war-escalation-with-china">warning from Nvidia</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) added fuel to the fire. The chipmaker said new U.S. government restrictions on chip exports to China could hurt its business. But while the market&#8217;s sharp drop had many investors looking for strategy, what they found was more like gallows humor.
&#8220;It's like a horse got let loose in a hospital,&#8221; another Redditor added, referencing comedian John Mulaney. &#8220;&#8230;and that horse has genital warts and dementia,&#8221; someone else chimed in.
<h2 class="wp-block-heading">Ditch the Options Casino? Or Dive Deeper?</h2>
Some users pleaded for sanity. &#8220;Retail traders need to stop playing the options casino,&#8221; one said. &#8220;Buy and hold shares and nothing else.&#8221;
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But others said short-dated options were exactly where profits could be made. &#8220;This is actually the perfect environment for 0DTEs,&#8221; one trader argued, referring to <a href="https://www.benzinga.com/news/events/24/09/41002623/master-market-fluctuations-with-0dte-options-heres-what-you-need-to-know">zero-days-to-expiration options</a>. &#8220;You can actually beat the dealers. Gotta know what you&#8217;re doing and choose the right side, though.&#8221;
Even those making money sounded exhausted. &#8220;I've made a small profit <a href="https://www.benzinga.com/insights/options/25/04/44612990/amazon-com-options-trading-a-deep-dive-into-market-sentiment">options trading on Amazon</a> from a swing within three hours alone,&#8221; one wrote. &#8220;I'm in green, but the wildness of these swings means I need to stay up all night watching the market. I just hate it and am going to cash out.&#8221;
<h2 class="wp-block-heading">Flight to Safety</h2>
Plenty of Redditors said they were pulling back entirely. &#8220;I&#8217;m just paying off all the debt until things stabilize,&#8221; one user wrote. &#8220;I am mostly sitting this one out. Only so much I can take before I get an ulcer.&#8221;
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Others shifted toward gold, foreign stocks or <a href="https://www.benzinga.com/money/best-savings-accounts">high-yield savings accounts</a>. &#8220;I've heavily <a href="https://www.benzinga.com/money/strategic-gold-investments-to-make">invested in gold ETFs</a>, but this is insane! I did not see so much volatility during COVID. This has created havoc,&#8221; the original poster replied.
&#8220;Gold is the play if you want your assets to be worth anything in 2–3 years,&#8221; someone responded. However, others questioned buying at all-time highs, given the <a href="https://www.benzinga.com/government/regulations/25/04/44858165/policy-push-vs-market-pull-dollar-under-pressure-as-reserve-currency-may-be-called-into-question-amid-tariff-turmoil">weakening dollar</a>.
While some saw opportunity in the chaos, others saw systemic breakdown. One commenter warned of a possible &#8220;USSR-style collapse&#8221; and said dollar-cost averaging is now a guaranteed way to lose money.
Still, others held out hope. &#8220;The best long-term play is to put more into the stock market and DCA while it&#8217;s down,&#8221; one said. &#8220;In four years, we&#8217;ll have a different president with vastly different policies.&#8221;
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Image: Shutterstock

'How To Trade In This Volatility?' An Investor Asked. The Advice? 'You're On A Drunken Horse Headed For A Burning Barn. Trade Accordingly'

In the midst of a broad tariff agenda that has caused turmoil in financial markets, President Donald Trump is relying on a diverse group of economic advisers to guide his policies.
What Happened: The team comprises of Treasury Secretary&nbsp;Scott Bessent, Senior Trade Adviser&nbsp;Peter Navarro, Commerce Secretary&nbsp;Howard Lutnick, Director of the National Economic Council&nbsp;Kevin Hassett, and U.S. Trade Representative&nbsp;Jamieson Greer. 
These advisers, each with unique backgrounds and perspectives, are instrumental in shaping and executing Trump&#8217;s economic strategies.
According to the report <a href="https://thehill.com/homenews/administration/5256332-trump-economic-advisers/">by </a>The Hill, Bessent, a reliable figure among&nbsp;Republican lawmakers and Wall Street&nbsp;executives, is at the forefront of trade deal negotiations. 
Navarro, a staunch Trump loyalist, echoes the President&#8217;s firm stance on tariffs.&nbsp;Lutnick, a longtime friend of&nbsp;Trump&#8217;s, plays a crucial role in the administration&#8217;s tariff rollouts, despite his media appearances causing occasional disruptions.
Also Read: <a href="https://www.benzinga.com/markets/25/04/44780349/trumps-tariff-policies-fuel-economic-concerns-economists-expect-slower-growth-ahead">Trump&#8217;s Tariff Policies Fuel Economic Concerns, Economists Expect Slower Growth Ahead</a>
Hassett, essentially Trump&#8217;s chief economic adviser, is tasked with defending the president&#8217;s economic proposals. Greer, although lesser-known, is a pivotal figure in trade talks, serving&nbsp;as the U.S. Trade Representative.
Insiders suggest that Trump&#8217;s preference for officials with differing views is not uncommon, as he ultimately makes the final decisions on tariffs, trade, and the economy. However, these top economic aides have been thrust into the limelight as economists caution about potential repercussions from Trump&#8217;s policies.
Why It Matters: The diversity of Trump&#8217;s economic team reflects his approach to policy-making, which often involves taking into account a range of viewpoints before making a final decision. The team&#8217;s varied backgrounds and perspectives could potentially lead to a more comprehensive and balanced economic strategy. 
However, the potential fallout from Trump&#8217;s policies, as warned by economists, underscores the high stakes involved in these decisions. The team&#8217;s ability to navigate these challenges will be crucial in shaping the future of the U.S. economy.
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Image: Shutterstock/Maxim Elramsisy

Meet the Key Five People Who Are Shaping Trump's Economic Agenda

Dave Ramsey has built a financial empire and has clear rules of how he intends to pass the money on to his children. That's why it made sense when a husband called into "The Ramsey Show" to discuss the inheritance he's accumulating for his four daughters.
The husband calculates that by the time he and his wife retire, they will have a nest egg that ranges from $8 million to $12 million. Ramsey congratulated the couple, but the call shifted into determining <a href="https://www.youtube.com/watch?v=gK2DFOT4FGo">how much money to give to the children.</a>
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</ul>
The caller was looking for biblical guidance and doesn't want to spoil his children when it's time to give them the money. Although there is a misconception that the Bible teaches that money is evil, Ramsey nipped it in the bud.
"A Godly man leaves an inheritance to his children's children," Ramsey said during the call. That's not just his personal opinion, either. It's deeply rooted in the Bible.
<h2 class="wp-block-heading">Prepare Your Children For The Responsibility</h2>
Ramsey starts his suggestions by saying that the couple can teach the children how to manage the inheritance while the couple is still alive.&nbsp;
The daughters range from seven to 13 years old, so there is still plenty of time to instill good money habits. Ramsey said that you aren't required to give them an inheritance, but he also said to the husband that an inheritance isn't going to damage them. The husband seems to have believed that previously, and Ramsey continued to break this myth.
"Wealth magnifies the character of the person," Ramsey explained. Someone who has a good character will be able to manage the money more effectively. However, bad people end up becoming even worse once they have money.
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
Ramsey goes on to mention that he told his children that they were not entitled to anything. Instead, they had to have a spiritual understanding of the wealth to be qualified to manage it. Ramsey views wealth as something that you do not own. You get to manage money, but God owns it.&nbsp;
Wealth is heavy to carry and comes with a lot of responsibility. Ramsey told the couple to teach their children now so they will be ready to handle that responsibility when the time arrives.
<h2 class="wp-block-heading">Make Sure They Are Qualified</h2>
Ramsey also said that the couple should cut any child out of the will who isn't qualified to manage the money. He said he would have done that with his own children if they weren't qualified to manage the money.
Since Ramsey views an inheritance as managing God's money, he wants to make sure his children follow the lessons in the Bible. Faith and spirituality are core components of how Ramsey approaches finances, and he wants his children to embrace that as well. All of his children have gone on to become adults who manage their finances responsibly.
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<h2 class="wp-block-heading">The Temple Of God Was Built With An Inheritance</h2>
The underlying context of the call is that the husband wanted to make sure it was biblically acceptable to give his daughters a large inheritance once the couple passed away.That's why the call included biblical references, including dispelling the myth that the Bible says that money is the root of all evil.
Ramsey breaks this common concern by reminding people that Solomon used the inheritance he received from David to build the First Temple in Jerusalem. Ramsey estimates that the temple cost $10 billion to $20 billion in current money to build.
"God uses families that have character generationally to manage His goods," Ramsey said when bringing up Solomon and David.
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A High Net Worth Couple Asks Dave Ramsey If Their Kids' Inheritance Is Too Big: 'A Godly Man Leaves An Inheritance To His Children's Children'

Shaquille O&#8217;Neal, the basketball legend, has recently revealed a career-defining regret in his autobiography. He admitted to not following the advice of his coach, Phil Jackson, which could have <a href="https://www.benzinga.com/general/sports/25/03/44348149/shaq-once-spent-1-million-in-a-day-on-luxury-then-realized-taxes-took-a-huge-cut">potentially extended his career.</a>
What Happened: After winning his third consecutive NBA championship with the Los Angeles Lakers in 2002, O&#8217;Neal was battling a serious toe problem. O&#8217;Neal expressed regret in his <a href="https://www.amazon.com/Shaq-Uncut-Story-Shaquille-ONeal/dp/B00BJDM1HM">autobiography</a> for not taking Jackson&#8217;s advice regarding a surgery that could have prolonged his career.
&#8220;He told me, &#8216;If you get this done right, you can play until you&#8217;re forty.&#8217; I wish I had listened to him,&#8221; O&#8217;Neal said in his autobiography. 
&#8220;I had hallux rigidus, which is a disorder of the joint located at the base of the big toe. It&#8217;s a form of degenerative arthritis,&#8221; he added in his memoir.
As per the report <a href="https://www.basketballnetwork.net/old-school/shaquille-oneal-regrets-not-following-phil-jackson-advice-that-couldve-extended-his-career">by</a> Basketball Network, O&#8217;Neal, despite his exceptional athleticism and towering height, was suffering from hallux rigidus, a type of degenerative arthritis that affects the joint at the base of the big toe. 
The condition had deteriorated to the point where surgery was unavoidable, leading to a critical decision about the type of procedure to undertake.
Phil Jackson, the renowned coach who had steered O&#8217;Neal&#8217;s growth from a promising talent to an indomitable force on the court, recommended a more comprehensive surgery. 
Also Read: <a href="https://www.benzinga.com/markets/25/04/44780032/shaqs-financial-wisdom-its-not-what-you-make-its-what-you-keep-and-whats-in-his-wallet-might-surprise-you">Shaq&#8217;s Financial Wisdom: &#8216;It&#8217;s Not What You Make, It&#8217;s What You Keep&#8217; — And What&#8217;s in His Wallet Might Surprise You</a>
This operation, frequently performed on ballet dancers who are familiar with severe toe pain, offered a more lasting solution but required an extended recovery period.
However, during intense contract negotiations with the Lakers, O&#8217;Neal opted for a less invasive surgery, fearing that a long recovery could undermine his negotiation position. 
He now acknowledges that this decision was a mistake. His toe problem continued, and he returned to the court not at his best, eventually leading to his trade to the Miami Heat in mid-2004.
Why It Matters: O&#8217;Neal&#8217;s revelation underscores the importance of health decisions in the career of professional athletes. His choice to prioritize contract negotiations over his long-term health had a significant impact on his career trajectory. 
This serves as a reminder to current and future athletes about the importance of considering long-term health implications when making career decisions.;
Read Next
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Sports

Shaq Regrets Ignoring Phil Jackson's Advice That Might Have Extended His Career: 'I Wish I Had Listened To Him'

The marketing lead for Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), Lucie, has issued a critical warning to the SHIB community. The warning is about potential scams and the significance of self-education in the cryptocurrency space.
What Happened: Lucie shared a post on X to alert the SHIB community about the risk of scammers. She stressed that the main defense against such threats is education and informed decision-making.
Lucie pointed out that scammers typically prey on those who are uninformed and thrive on hype. She encouraged the community to ignore trends and noise, focusing instead on solid, time-tested investments. &#8220;Learn. Research. Move with purpose. No shortcuts…&#8221;, she advised.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In the state of trenches we're living in, education is the only real weapon. Scammers thrive on hype. They prey on the uninformed. Forget the trends. Forget the noise. Only solid, time-tested investments will survive the storm. Learn. Research. Move with purpose. No shortcuts…
&mdash; 
</blockquote></div></figure>

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

Cryptocurrency

$SHIB

Shiba Inu Team Issues Major Anti-Scam Alert: Here's What You Need To Know

For more than two decades, a Minnesota woman managed to collect her deceased mother's <a href="https://www.benzinga.com/25/04/44775706/when-i-hear-our-politicians-say-were-not-gonna-touch-social-security-i-dont-believe-them-seniors-are-worried-about-doge-changes">Social Security benefits</a> — until a recent investigation brought the long-running scheme to an end.
<h2 class="wp-block-heading">A 25-Year Fraud Comes to Light</h2>
Mavious Redmond, 54, of Austin, Minnesota, pleaded guilty in federal court on April 9 to one count of theft of government funds. According to the U.S. Attorney's Office for the District of Minnesota, Redmond had been collecting <a href="https://www.benzinga.com/personal-finance/25/04/44785411/get-ready-for-april-16-social-security-payments-for-group-3-retirees-and-what-you-need-to-know-about-your-benefits">Social Security payments</a> meant for her mother since her passing in January 1999.
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Instead of notifying the Social Security Administration of her mother's death, Redmond kept the payments flowing for 25 years, totaling more than $360,000.
"We are awash in federal programs fraud," said Acting U.S. Attorney Lisa D. Kirkpatrick in a <a href="https://www.justice.gov/usao-mn/pr/austin-woman-pleads-guilty-25-year-social-security-fraud-scam">&nbsp;statement</a>. "Redmond stole well more than a quarter million dollars in taxpayer funds. She scammed Social Security for literal decades. No more. My office will continue to aggressively pursue the federal programs fraud that plagues Minnesota."
<h2 class="wp-block-heading">Posing as Her Deceased Mother</h2>
The fraud came to a head in 2024 when Redmond took extraordinary steps to keep the deception going. According to court documents, she impersonated her deceased mother at least twice in person at a local Social Security office.
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On June 4, Redmond submitted a fraudulent Social Security application under her mother's name. She used her mother's personal details, including her date of birth and Social Security number, and even forged her mother's signature. Just over two weeks later, she returned to the office and submitted the paperwork again.
These actions helped investigators confirm the extent of the fraud. The case was led by the SSA's Office of the Inspector General, according to Kirkpatrick's statement.&nbsp;
<h2 class="wp-block-heading">Charges and Next Steps</h2>
Redmond entered her guilty plea in U.S. District Court before Judge Nancy E. Brasel. While sentencing has not yet been scheduled, the charge of theft of government funds carries serious penalties, including the possibility of prison time, a court order to pay a fine of several thousand dollars, or both.
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<h2 class="wp-block-heading">Broader Concerns About Program Abuse</h2>
This case highlights growing concerns about <a href="https://www.benzinga.com/25/04/44769836/the-social-security-administration-claps-back-at-musk-the-agencys-records-are-highly-accurate">fraud in federal benefit programs</a>, particularly as government agencies work to modernize their oversight systems and prevent long-term abuse.
The SSA has safeguards in place to detect inconsistencies in benefit claims, but this case shows how determined individuals can still slip through the cracks, even for decades.
While most retirees and beneficiaries follow the rules, cases like this can raise questions about oversight, fairness, and how taxpayer dollars are protected. It's also a reminder of how important it is to report the death of a family member receiving benefits — and to avoid any temptation to continue collecting payments after that point.
The consequences, as Redmond's case shows, can be serious and long-lasting.
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She Collected Her Mom's Social Security For 25 Years — Now She's Facing Justice

Billionaire Mark Cuban recently highlighted the potentially fatal repercussions of President Donald Trump&#8216;s ongoing tariff war.
What Happened: Cuban, who owns a pharmaceutical company that provides prescription drugs at a substantial discount, voiced his apprehension that the President&#8217;s trade war could drive up the prices of essential medications. 
In a post on X, Cuban said, &#8220;It&nbsp;will get ugly. They also&nbsp;are important to the manufacturers&nbsp;of medications. People could die.&#8221; 
Cuban also took a jab at those who endorse tariffs but do not strictly purchase American-made goods, branding them as hypocrites. He encouraged them to set an example by backing American manufacturing.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It will get ugly. They also are important to the manufacturers of medications. People could die
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1911499938086658140?ref_src=twsrc%5Etfw">April 13, 2025</a></blockquote>
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On the other hand, China&#8217;s leader Xi Jinping has voiced his resistance to the trade war, underlining that no one emerges victorious in such a situation. Despite some tariffs being put on hold, Trump has upheld a 145% duty on China, the globe&#8217;s second-largest economy.
Also Read: <a href="https://www.benzinga.com/tech/25/02/43424157/mark-cuban-suggests-20-minute-daily-habit-to-destabilize-musk-zuckerberg-and-even-president-trump" target="_blank" rel="noreferrer noopener">Mark Cuban Suggests 20-Minute Daily Habit to ‘Destabilize&#8217; Musk, Zuckerberg, and Even President Trump</a>
Trump has also refuted allegations that he has approved tariff exemptions for specific electronics, including smartphones, asserting that these&nbsp;products are subject to the&nbsp;current 20% Fentanyl Tariffs and are simply being shifted to a different tariff category.
Regardless of the inconsistent approach to tariffs,&nbsp;White House advisers and Cabinet&nbsp;members have endeavored to convey confidence and tranquility, even as Trump&#8217;s recent pronouncements indicate changing narratives.
Why It Matters: The escalating trade war could have far-reaching implications on the global economy and the healthcare sector. The hike in tariffs could lead to an increase in the cost of life-saving medications, posing a significant risk to patients who rely on these drugs. 
Moreover, the trade war could also potentially disrupt the supply chain of pharmaceutical companies, further exacerbating the situation. 
The ongoing trade tensions between the U.S. and China continue to create uncertainty, impacting global markets and economies.
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Image: Shutterstock

Mark Cuban Sounds Alarm Over Impact of Trump's Tariff War: 'People Could Die'

Popular tech YouTuber Zack Nelson, better known as JerryRigEverything, just called out Elon Musk for a bold promise that hasn't aged well. In a <a href="https://x.com/ZacksJerryRig/status/1912150669659873694">post</a> on X, he shared a screenshot showing that his 2018 Tesla Model X is now worth just $22,400. That's about 20% of what he paid for it, despite Musk&#8217;s claim that Teslas with Full Self-Driving would appreciate over time.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I remember when <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@ElonMusk</a> said my <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a> with FSD was an appreciating asset. Here we are 7 years later at 20% of its original value. &#x1f62a; <a href="https://t.co/QyJgEmxxLe">pic.twitter.com/QyJgEmxxLe</a>
&mdash; JerryRigEverything (@ZacksJerryRig) <a href="https://twitter.com/ZacksJerryRig/status/1912150669659873694?ref_src=twsrc%5Etfw">April 15, 2025</a></blockquote>
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<h2 class="wp-block-heading">The &#8220;Appreciating Asset&#8221; Pitch</h2>
Back in 2019, Musk said buying a Tesla was an investment, not an expense. &#8220;If you buy a Tesla today, I believe you are buying an appreciating asset – not a depreciating asset,&#8221; he <a href="https://www.youtube.com/watch?v=dEv99vxKjVI&amp;t=924s">claimed</a>. The idea was that Tesla would keep raising the price of its FSD package, making used Teslas more valuable.
But reality has gone in the opposite direction. Tesla has <a href="https://www.benzinga.com/news/24/04/38351810/tesla-fsd-is-now-nearly-50-cheaper-than-when-elon-musk-called-it-very-low-just-under-a-year-ago">cut the price of FSD</a> multiple times since 2023, and used Teslas are now losing value three times faster than the average car, according to recent market data.
In replies to the YouTuber&#8217;s post, many Tesla owners shared similar frustrations. Some said they &#8220;drank the Kool-Aid too&#8221; and bought more than one Tesla and saw each of them lose around half their original value. Others criticized Tesla for prioritizing its future robotaxi network instead of completing promised FSD features &#8220;they sold us years and years ago.&#8221;
Trending: <a href="https://www.benzinga.com/money/investing-in-the-midwest-why-multifamily-real-estate-is-a-winning-strategy">This investment company boasts a 33.85% internal rate of return (IRR) for its realized projects, allowing accredited investors to earn passive returns and avoid the headaches of being a landlord.</a>
<h2 class="wp-block-heading">A Decade of Missed Targets</h2>
Musk has been overly optimistic about autonomy for years. At a 2015 Nvidia <a href="https://youtu.be/TDm6Snkle70?si=tweh-Du3cwT1dhuW&amp;t=619">conference</a>, he said <a href="https://www.benzinga.com/news/25/03/44458804/elon-musk-10-years-ago-called-autonomous-driving-a-solved-problem-said-we-will-be-there-in-a-few-years">self-driving was a &#8220;solved problem&#8221;</a> and predicted that fully autonomous cars would arrive in just a few years.
That timeline has repeatedly slipped. On a recent <a href="https://www.youtube.com/live/Gub5qCTutZo?si=slieCXQlJmjiVkM4&amp;t=2806">earnings call</a>, Musk finally admitted that Tesla's current hardware isn't enough to make full autonomy a reality. He said the realization was &#8220;absolutely painful and difficult.&#8221;
Ross Gerber, one of Tesla&#8217;s early investors, <a href="https://www.benzinga.com/25/03/44068902/tesla-fsd-like-a-12-year-old-driving-compared-to-waymo-says-ross-gerber-warning-uber-has-got-to-be-hurting">summed it up bluntly</a> in a recent post: &#8220;My Tesla FSD is like a 12-year-old driving next to a Waymo.&#8221;
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
<h2 class="wp-block-heading">Still Waiting</h2>
Despite Musk's original vision of consumer-owned Teslas becoming income-generating robotaxis, the company is now shifting to a <a href="https://www.benzinga.com/markets/equities/25/03/44488029/tesla-teases-robotaxi-launch-in-texas-but-industry-veterans-question-safety-and-readiness-if-a-company-were-serious">small geo-fenced fleet in Austin, Texas</a>. Meanwhile, customers who paid thousands for FSD are left with a driver-assist system that still requires constant supervision.
Even some loyal fans are starting to lose patience. As one commenter put it: &#8220;The man is a genius at marketing to people on the spectrum. How on earth would any machine with as many moving parts as a car possibly appreciate in value?&#8221;
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Image: Shutterstock

Popular YouTuber JerryRigEverything Says Elon Musk Promised His Tesla With FSD Would Gain Value. Seven Years Later, It's Worth Just 20%

A California couple is spending between $1,000 and $1,200 a month on groceries for just the two of them. Now, with a baby on the way, they&#8217;re trying to figure out whether that number is totally normal — or totally out of control.
<h2 class="wp-block-heading">Is This a Problem or Just Reality in 2025?</h2>
They cook nearly every meal at home, shop around for deals at stores like Trader Joe&#8217;s, Aldi, Costco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) and Grocery Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GO#NASDAQ">GO</a>), and avoid eating out except for a few meals each month. Their diet is mostly whole foods with minimal meat and processed items. The husband lifts weights and consumes a lot of calories, while the wife occasionally buys organic produce. They also avoid processed foods for health reasons.
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<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
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&#8220;We bring home 215k a year, so we&#8217;re not hurting,&#8221; the poster <a href="https://www.reddit.com/r/budget/comments/1jnrzm8/spending_1000_1200_a_month_on_groceries_for_two/">wrote</a> on Reddit&#8217;s r/budget subreddit. &#8220;But we have a baby on the way, so we&#8217;re making sure every part of our budget is tight.&#8221;
<h2 class="wp-block-heading">Are They Overspending, or Is This the New Normal?</h2>
The post quickly drew hundreds of responses. Some people were shocked by the number, saying they feed families of four or five for the same amount. Others said that in high-cost-of-living areas like California, $1,000 a month for two adults who eat every meal at home isn&#8217;t outrageous.
Several commenters pointed out that household items — like detergent, paper towels and toiletries — might be sneaking into that total without them realizing it. Others noted that higher-calorie diets, like those required by athletes or weightlifters, can significantly increase grocery bills.
&#8220;The gym guy piece really explains the $1000. Probably having pre-workout and post-workout, high protein, and higher calorie intake.&#8221;
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A few posters said they spend far less by planning meals around sales, <a href="https://www.benzinga.com/personal-finance/25/03/44065932/mark-cuban-was-asked-how-hed-invest-100k-his-answer-buy-bulk-toothpaste-and-soup-for-the-best-guaranteed-return-on-investment">buying in bulk</a>, and sticking to simpler <a href="https://www.benzinga.com/personal-finance/24/12/42347607/eat-only-beans-and-rice-says-dave-ramsey-heres-why-some-people-still-dont-get-what-hes-trying-to-say">meals like rice, beans</a> and frozen vegetables. One person claimed to feed two adults on $250 a month by using raw ingredients and avoiding name brands altogether.
But not everyone agreed that $1,200 was excessive. Some who eat similarly clean, minimally processed diets said they spend the same or even more — and feel fine about it.
&#8220;If you can afford it, then no big deal, I guess,&#8221; one user commented. &#8220;But it is all totally not necessary. You make your choice for what makes you happy, though.&#8221;
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<h2 class="wp-block-heading">The Verdict? It Depends</h2>
Ultimately, the responses boiled down to one thing: It depends. On where you live. On how much you eat. On whether you&#8217;re buying organic. On whether you&#8217;re including non-food items in your grocery total. And on how much you&#8217;re willing to prioritize food quality over cost.
One of the most repeated suggestions was to <a href="https://www.benzinga.com/money/expense-tracker">track your spending</a> line by line for a month and see where the money is actually going. You might find some surprises hiding in your cart.
And if it still adds up to $1,200? Well, maybe that's just what it takes to eat well in 2025 — especially in California.
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A Couple In California Is Spending $1,200 A Month On Groceries For Two. Now They're Wondering, 'Is This Crazy?'

Billionaire&nbsp;Warren Buffett&nbsp;once shared his insights on achieving success, emphasizing the importance of recognizing personal strengths, choosing the right partners, and not fearing mistakes.
What Happened: Buffett, who became&nbsp;a millionaire by age 32, attributed his success to his first job of selling Coca-Cola bottles door-to-door. He advised Gen Zers to identify their strengths and surround themselves with the right people, emphasizing the importance of intelligence, energy, and integrity in a work partner.
Buffett also highlighted the significance of embracing mistakes, a message that may resonate with Gen Zers who have faced career challenges due&nbsp;to the pandemic and economic&nbsp;uncertainty.
"Figure out what your strengths are and then pick the right people and don't be afraid of making mistakes," Buffett&nbsp;<a href="https://www.instagram.com/cbssundaymorning/reel/DGqR78rOelc/">told </a>CBS News.
Buffett&#8217;s long-lasting partnership with Charlie Munger, who served&nbsp;as vice chairman of Berkshire&nbsp;Hathaway until his death in 2023, was cited as an example of a successful business relationship. The billionaire investor stressed that the right business partner can significantly impact one&#8217;s success.
Also Read: <a href="https://www.benzinga.com/markets/25/04/44778463/warren-buffetts-wealth-grows-even-amid-tariff-war-and-global-market-turmoil">Warren Buffett&#8217;s Wealth Grows Even Amid Tariff War and Global Market Turmoil</a>
He also mentioned the importance of investing in oneself, stating that the path to wealth is akin to a &#8220;choose your own adventure&#8221; journey.
"Every time I'm with Charlie, I've got at least some new slant on an idea that causes me to rethink certain things. We've had so much fun in the partnership over the years," Buffett&nbsp;said. 
Why It Matters: Buffett&#8217;s advice comes at a crucial time when Gen Zers are navigating their way through career paths amidst a challenging economic landscape. His emphasis on recognizing personal strengths and choosing the right partners provides a roadmap for young professionals seeking to carve their niche in the professional world.
Furthermore, his message of embracing mistakes resonates with the current generation that has faced unprecedented career challenges due to the pandemic. This advice could potentially inspire Gen Zers to view their mistakes as learning opportunities rather than setbacks.
The billionaire&#8217;s emphasis on the importance of investing in oneself underscores the need for continuous learning and personal development, a crucial aspect in today&#8217;s rapidly evolving professional landscape.
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Success Stories

Warren Buffett's Success Mantra for Gen Z: 'Figure Out What Your Strengths Are, Then Pick the Right People and Don't Be Afraid of Making Mistakes'

If you're <a href="https://www.benzinga.com/money/real-estate-forecast-for-the-next-10-years">watching the housing market</a> closely, here's something to pay attention to: Builders are sitting on more unsold homes than we've seen since the Great Recession. And that's leading to something pretty rare in <a href="https://www.benzinga.com/real-estate">real estate — real deals</a>.
Thanks to years of aggressive building during the post-pandemic housing boom, combined with today's higher mortgage rates and affordability challenges, some builders are sitting on a glut of "spec homes" — move-in ready properties built without a buyer lined up. 
To move these homes, they're offering major incentives: we're talking lower interest rates (thanks to mortgage rate buydowns), credits toward closing costs, and even cash for upgrades. In some areas, prices are dropping by tens of thousands of dollars, according to a Yahoo Finance <a href="https://finance.yahoo.com/news/builders-sitting-on-a-pile-of-unsold-homes-are-slashing-prices-and-offering-mortgage-rate-deals-140058365.html">report</a>.
See Also: <a href="https://www.benzinga.com/markets/25/04/44861156/america-first-is-ok-but-not-america-alone-says-jamie-dimon-as-he-calls-for-us-china-engagement-amid-trade-tensions-start-with-a-phone-call">&#8216;America First Is OK, But Not America Alone,&#8217; JPMorgan CEO Jamie Dimon Says</a>
But — and it's a big but — this isn't happening everywhere. Markets like Texas, Florida, and parts of Arizona, where <a href="https://www.benzinga.com/money/how-buy-new-construction-home">new construction homes</a> have exploded in recent years, are seeing the biggest discounts. Think of suburbs around Austin or San Antonio, where buyers have scored five-figure price cuts, plus perks like new appliances and upgraded finishes. Meanwhile, more land-constrained areas like coastal California or parts of the Midwest still have limited inventory and red-hot demand. There? Prices are holding firm.
It's a tale of two markets: one where buyers can finally flex some negotiating power, and another where bidding wars are still the norm.
Builders are walking a fine line right now — clearing out inventory while bracing for the next wave of economic uncertainty. That's why they're prioritizing flexibility. Many are shifting to spec home construction. This is not just to meet buyer demand for quick move-ins, but also to get ahead of potential tariff hikes and rising labor costs.
So what does this mean if you're house hunting in 2025? If you're in the right market — or willing to move to one — you might find a new construction home that's suddenly within reach. But don't wait too long. As inventory gets cleared out, the leverage may swing back to sellers sooner than you think.
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Real Estate

Homebuilders Are Slashing Prices — But Only In Certain Markets

During the formative years of&nbsp;Netflix Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), co-founders Marc Randolph and Reed Hastings made a bold decision to decline an acquisition proposal from Jeff Bezos, the founder of&nbsp;Amazon Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
What Happened: According to a recent interview, Hastings&nbsp;said that Bezos had shown interest in buying Netflix in 1998, as part of Amazon&#8217;s strategy to expand into the video market. "It never got to, like, a formal offer. It was sort of exploratory," he <a href="https://www.youtube.com/watch?v=2ES_G88EG8Y">said</a>.&nbsp;
"We said no and then worked our a &#8212; off for 20 years," Hastings said.
While no official offer was put forth, Bezos&#8217; team suggested a price in the low eight figures, which Randolph estimated to be&nbsp;between $14 million and $16&nbsp;million, according to&nbsp;his 2019 memoir, &#8220;That Will&nbsp;Never Work.&#8221;
"When someone uses ‘low eight figures,' that means barely eight-figures. That means probably something between $14 million and $16 million," Randolph wrote in the memoir. 
Also Read: <a href="https://www.benzinga.com/tech/25/04/44780229/decoding-jeff-bezos-unique-amazon-interview-question-a-key-to-hiring-success">Decoding Jeff Bezos&#8217; Unique Amazon Interview Question: A Key To Hiring Success?</a>
Despite facing financial difficulties, the Netflix co-founders believed they were on the brink of a major breakthrough. They had successfully sourced nearly every DVD available, positioning Netflix as the top online source for DVDs. As a result, they turned down Bezos&#8217; offer.
In a twist of fate, Randolph and Hastings&nbsp;found themselves in a similar&nbsp;predicament with Blockbuster in 2000,&nbsp;but this time they were&nbsp;the ones seeking a deal. However, Blockbuster&#8217;s CEO, John Antioco, did not take their proposal seriously.
Why It Matters: Today, Netflix has grown into a global video streaming and production giant&nbsp;with a market cap of&nbsp;$411.34 billion and over 300 million subscribers worldwide. 
The decision to reject Bezos&#8217; early acquisition offer has clearly paid off, allowing Netflix to carve out its own path in the industry and become a leader in the streaming market.
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