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Satellogic Inc is a provider of satellite imagery to governments and commercial customers globally. It geographically operates in North America, Europe, Asia and South America. It derives maximum revenue from Asia Pacific.

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Zozo Inc

The past week was a whirlwind of activity in the cryptocurrency world. From Ripple&#8217;s concerns about the UK&#8217;s crypto regulation to Circle&#8217;s renewed public listing ambitions, and the anticipated Bitcoin price surge, there was no shortage of intriguing developments.
Here&#8217;s a quick recap of the top stories that made headlines.
Ripple Raises Concerns Over UK&#8217;s Crypto Regulation
Blockchain-based payments firm,&nbsp;Ripple, voiced concerns about the UK&#8217;s slow approach to crypto regulation. Ripple&#8217;s Managing Director for the UK and Europe, Cassie Craddock, expressed that British banks are hesitant to adopt Ripple&#8217;s services due to the uncertainty surrounding crypto laws.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44649174/ripple-warns-uk-behind-crypto">Read the full article here.</a>
Circle Eyes $5 Billion Valuation For Upcoming IPO
Circle Internet Financial, the company behind the USDC/USD stablecoin, is reportedly preparing to file for an initial public offering by late April. The crypto-focused fintech is working with&nbsp;JPMorgan Chase (JPM)&nbsp;and&nbsp;Citi&nbsp;as advisors. This marks Circle&#8217;s second major attempt to go public.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44567164/circle-eyes-5-billion-valuation-for-upcoming-initial-public-offering">Read the full article here.</a>
See More:&nbsp;<a href="https://www.benzinga.com/money/best-crypto-scanners" target="_blank" rel="noreferrer noopener">Best Cryptocurrency Scanners</a>
Anthony Pompliano Praises Trump&#8217;s Tariffs As Catalyst For Crypto Innovation
Anthony Pompliano, Founder &amp; CEO of Professional Capital Management, lauded the new tariffs introduced by President Donald Trump. He argued that these tariffs highlight the inefficiencies of traditional financial systems and bolster the case for decentralized finance solutions like Bitcoin.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44625640/anthony-pompliano-praises-trumps-tariffs-as-catalyst-for-crypto-innovation">Read the full article here.</a>
Bitcoin Set for April Price Surge As Fed Signals Monetary Easing
Despite recent drops in cryptocurrency prices due to inflation concerns and tariff threats from President Donald Trump, Bitcoin and other cryptocurrencies are projected to experience a price surge in April. This follows hints from the Federal Reserve about possible monetary easing. Arthur Hayes, a prominent crypto trader and BitMex co-founder, anticipates a Bitcoin price boom in April.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44552659/bitcoin-set-for-april-price-surge-as-fed-signals-monetary-easing">Read the full article here.</a>
Trump's Tariff Surprise Sends Recession Bets Soaring on Polymarket
Cryptocurrency bettors significantly increased their expectations of a U.S. recession after President Donald Trump's underwhelming &#8220;Liberation Day&#8221; tariff announcement. On Polymarket, the odds for the &#8220;US recession in 2025?&#8221; contract jumped from 46% to 54% within 24 hours. Just a week earlier, the probability stood at 38%.
<a href="https://in.benzinga.com/markets/cryptocurrency/25/04/44640419/recession-in-2025-crypto-betters-now-see-over-50-probability-after-trumps-sweeping-tariff-rollout">Read the full article here</a>.
Read Next:
<ul>
<li><a href="https://benzinga.com/markets/cryptocurrency/25/04/44647456/bitcoin-xrp-diversion" target="_blank" rel="noreferrer noopener">Bitcoin Consolidates, But XRP May Have Topped: What&#8217;s Driving This Diversion?</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/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Photo courtesy: Shutterstock

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

Cryptocurrency

News

Media

Ripple's Crypto Warning, Circle's IPO Ambitions, And Bitcoin's Anticipated Surge: This Week In Crypto

The past week has been a whirlwind for&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with the tech giant facing significant challenges and predictions. From the potential impact of President Trump&#8217;s tariffs to the feasibility of manufacturing iPhones in America, there&#8217;s a lot to unpack. Here&#8217;s a recap of the top stories that shaped Apple&#8217;s week.
Trump&#8217;s Tariffs Could Skyrocket iPhone Prices
President Donald Trump&#8217;s recently enacted tariffs could lead to a significant price hike for Apple&#8217;s iPhones. If Apple decides to pass these costs onto consumers, we could see a price surge of 30% to 40%. This is primarily because most iPhones are manufactured in China, which is now facing a 54% tariff.
<a href="https://www.benzinga.com/tech/25/04/44655937/trump-tariffs-could-spike-iphone-prices-to-almost-2300-if-apple-decides-to-pass-on-the-costs-to-buyers">Read the full article here.</a>
Manufacturing iPhones in America: A Pipe Dream?
Top analyst Dan Ives from Wedbush Securities has expressed skepticism about the feasibility of manufacturing Apple products, including iPhones, in the U.S. According to Ives, such a move would result in significantly higher costs.
<a href="https://www.benzinga.com/markets/25/04/44640656/apple-making-iphones-in-america-a-fantasy-that-sounds-great-behind-the-microphones-says-top-analyst-dan-ives">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/04/44650952/china-restricts-rare-earth-exports-to-us-as-part-of-tariff-retaliation" target="_blank" rel="noreferrer noopener">China Restricts Rare Earth Exports To US As Part Of Tariff Retaliation: &#8216;Geopolitical Earthquake In Slow Motion,&#8217; CEO Says</a>
Apple&#8217;s Strong iPhone Upgrade Cycle Predicted
BofA Securities analyst Wamsi Mohan maintained a Buy rating on Apple, anticipating a strong iPhone upgrade cycle in fiscal 2025 and 2026. This prediction is driven by the need for the latest hardware to enable generative AI features and higher growth in Services revenue.
<a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44613270/apple-set-for-strong-iphone-upgrade-cycle-driven-by-ai-analyst-says">Read the full article here.</a>
Apple&#8217;s $300 Billion Rout: What Could Turn Things Around?
Following a nearly 10% drop in Apple&#8217;s stock, which resulted in a loss of about $300 billion of market cap due to new tariffs, Needham analyst Laura Martin reiterated a Buy rating with a $260 price target.
<a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44651515/apple-analyst-holds-the-line-after-300-billion-rout-what-could-turn-stock-around">Read the full article here.</a>
Apple Stock Slammed by Trump Tariffs: Is a Death Cross Next?
Apple&#8217;s stock took a significant hit as President Trump&#8217;s surprise tariff announcement sent shockwaves through the tech sector. The stock slumped about 9.5% in early market trading, extending a brutal month-long slide that has already shaved off more than 13%. If this trend continues, the stock could soon make a Death Cross — a classic bearish signal.
<a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44629335/apple-stock-slammed-by-trump-tariffs-is-a-death-cross-next">Read the full article here.</a>
Read Next: <a href="https://benzinga.com/media/25/04/44655737/former-microsoft-ceo-steve-ballmer-says-trumps-new-tariffs-could-spark-global-turmoil-hurt-consumers-as-sat" target="_blank" rel="noreferrer noopener">Former Microsoft CEO Steve Ballmer Says Trump&#8217;s New Tariffs Could Spark Global Turmoil, Hurt Consumers As Satya Nadella-Led MSFT&#8217;s Stock Drops 14% YT</a>
Photo courtesy: Shutterstock
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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Tech

AAPL

Tariffs, Production Fantasies, And Analyst Predictions: This Week In Appleverse

The past week was a rollercoaster ride for global markets, largely due to President Donald Trump&#8217;s new trade tariffs. The tariffs, aimed at reducing America&#8217;s $1.2 trillion annual trade deficit, have sparked a flurry of reactions from economists, investors, and market observers. Here&#8217;s a quick recap of the top stories that shaped the week.
Trump&#8217;s &#8216;Reciprocal Tariff&#8217; Math
President Trump&#8217;s tariff calculations have raised eyebrows among experts. James Surowiecki, a writer for The Atlantic and Fast Company, questioned the credibility of the figures shared by the White House, calling them &#8220;dumb and deceptive.
<a href="https://www.benzinga.com/25/04/44622346/trumps-reciprocal-tariff-math-a-masterclass-in-economic-absurdity">Read the full article here.</a>
Wall Street Wipes Out $2 Trillion
Trump&#8217;s new trade tariffs sent shockwaves through global markets, triggering a massive sell-off. Wall Street saw a staggering $2 trillion in market cap erased in a single day, with the U.S.'s biggest 10 companies shedding $1 trillion alone.&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) plunged 8.7%, wiping out nearly $300 billion in value.
<a href="https://www.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/44645172/china-retaliates-with-34-tariff-on-all-us-imports-urges-trump-to-immediately-cancel-the-tariffs-calls-for-negotiation" target="_blank" rel="noreferrer noopener">China Retaliates With 34% Tariff On All US Imports, Urges Trump To Immediately Cancel The Tariffs, Calls For Negotiation</a>
Trump&#8217;s &#8216;Liberation Day&#8217; Tariff Label Is Orwellian Doublespeak: Dr. Doom
Economist Nouriel Roubini criticized President Trump's declaration of "Liberation Day," marking the imposition of new tariffs. Roubini described the term as "literally Orwellian doublespeak," suggesting that the tariffs would lead to "lower growth and higher inflation."
<a href="https://www.benzinga.com/25/04/44620056/dr-doom-nouriel-roubini-trumps-liberation-day-tariff-label-is-orwellian-doublespeak-us-playing-with-fire">Read the full article here.</a>
Larry Summers Warns Trump&#8217;s Tariffs Will Deliver &#8216;Oil Crisis-Like Shock&#8217;
Former Treasury Secretary Larry Summers warned that President Trump‘s tariffs will cause an "oil crisis-like shock" to the economy, spiking prices and unemployment while shrinking productive capacity.
<a href="https://www.benzinga.com/markets/25/04/44623179/larry-summers-warns-trumps-tariffs-will-deliver-oil-crisis-like-shock-slash-30-trillion-from-economy-as-markets-plunge">Read the full article here.</a>
Lutnick Says Markets Will Do &#8216;Extremely Well&#8217; Long-Term
Commerce Secretary Howard Lutnick believes the Trump Administration's reciprocal tariffs will cause some short-term pain, but ultimately result in medium- and longer-term gain.
<a href="https://www.benzinga.com/news/25/04/44630931/commerce-secretary-lutnick-says-us-markets-will-perform-extremely-well-long-term-despite-trump-tariff-selloff">Read the full article here.</a>
Read Next:
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<li><a href="https://benzinga.com/general/market-summary/25/04/44643368/donald-trump-says-market-is-going-to-boom-claiming-6-7-trillion-worth-of-inflows-will-come" target="_blank" rel="noreferrer noopener">Donald Trump Says &#8216;Market Is Going To Boom,&#8217; Claiming &#8216;$6-7 Trillion&#8217; Worth Of Inflows Will Come After The Worst Selloff Since 2020</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/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Photo courtesy: Shutterstock

Economics

Trump's Tariffs Stir Global Markets, Wall Street Loses $2 Trillion, And More: This Week In Economics

The past week was filled with intriguing stories, from the Trump administration&#8217;s backing of a Biden-era project to a lawsuit over China tariffs. Members of Congress are trading Tesla stock, while Trump&#8217;s stance on cannabis policy remains unclear. Lastly, the President sets up a new entity to manage the CHIPS Act. Here&#8217;s a quick recap of these stories.
Trump&#8217;s Administration Backs Biden&#8217;s Legacy Project
The Trump administration has shown support for the Lobito Corridor, a project initiated by former President Joe Biden. The transcontinental railway project aims to link resource-rich areas of the Democratic Republic of Congo (DRC) and Zambia to Angola&#8217;s Atlantic port of Lobito. This move is expected to strengthen the West&#8217;s critical minerals supply chain.
<a href="https://www.benzinga.com/25/04/44644390/trumps-administration-backs-bidens-legacy-project-to-secure-african-resources">Read the full article here.</a>
Trump Faces Lawsuit Over China Tariffs
President Donald Trump is facing a lawsuit over the 20% tariffs imposed on Chinese goods. The lawsuit, filed by the New Civil Liberties Alliance on behalf of a Florida-based small business, challenges Trump's use of the International Emergency Economic Powers Act of 1977.
<a href="https://www.benzinga.com/25/04/44639682/trump-gets-sued-over-china-tariffs-congress-did-not-grant-presidents-blank-check-to-write-domestic-policy">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/04/44639682/trump-gets-sued-over-china-tariffs-congress-did-not-grant-presidents-blank-check-to-write-domestic-policy" target="_blank" rel="noreferrer noopener">Trump Gets Sued Over China Tariffs: Congress Did Not Grant Presidents &#8216;Blank Check To Write Domestic Policy&#8217;</a>
Congress Members Trading Tesla Stock 
Seven members of Congress have bought and sold Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock since the 2024 presidential election. The rising price of Tesla stock in 2024 following Trump&#8217;s election win may have boosted the wealth of these Congress members.
<a href="https://www.benzinga.com/25/04/44614311/7-congress-members-have-bought-and-sold-tesla-stock-since-2024-election-a-look-at-the-republicans-and-democrats-betting-on-ev-giant">Read the full article here.</a>
Trump&#8217;s Stance on Cannabis Policy 
Despite receiving praise from a pro-cannabis PAC during his campaign, President Trump seems to be in no rush to make significant changes to cannabis policy. A White House official stated that &#8220;no action is being considered at this time&#8221; regarding marijuana policy.
<a href="https://www.benzinga.com/markets/cannabis/25/04/44593274/trump-gets-fawning-praise-from-pro-cannabis-pac-but-hes-not-returning-the-sentiment">Read the full article here.</a>
Trump Sets Up New Entity for CHIPS Act
Days after criticizing the CHIPS Act as a &#8216;horrible thing,&#8217; President Trump has set up a new entity within the Commerce Department to manage the CHIPS and Science Act, 2022. The United States Investment Accelerator will now oversee the CHIPS Act program.
<a href="https://www.benzinga.com/government/regulations/25/04/44584283/days-after-calling-the-chips-act-a-horrible-thing-donald-trump-sets-up-new-entity-for-negotiating-much-better-deals-heres-more">Read the full article here.</a>
Read Next:
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<li><a href="https://benzinga.com/25/03/44575791/lindsey-graham-dodges-third-term-question-after-trump-makes-it-amply-clear-hes-not-joking-about-it" target="_blank" rel="noreferrer noopener">Lindsey Graham Dodges Third Term Question After Trump Makes It Amply Clear He&#8217;s Not Joking About It</a></li>
</ul>
Photo courtesy: Shutterstock
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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Politics

TSLA

Trump Backs Biden's Project, China Tariffs, Tesla Stock, Cannabis Policy, And The CHIPS Act: This Week In Politics

Many people talk about saving money and building a nest egg. However, "I Will Teach You To Be Rich" author and financial guru <a href="https://www.benzinga.com/personal-finance/25/02/43995980/self-made-millionaire-warns-90-of-people-are-throwing-away-money-on-this-expense">Ramit Sethi</a> believes there's a valuable money lesson that's missing from conversations.
"Few people teach you how to spend money meaningfully," the financial guru stated in a recent <a href="https://moneywise.com/managing-money/ramit-sethi-money-red-flags-couples">Moneywise interview</a>.
People are good about telling you to avoid impulsive purchases. They also advocate for putting your money into assets like stocks and real estate. However, not everyone fancies the idea of passing away with millions of dollars in the bank. It's good to have a big nest egg, but you should also take time to enjoy some of the fruits of your labor.
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<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a></li>
</ul>
<h2 class="wp-block-heading">Restrictions Need Balance</h2>
The personal finance industry is good at telling you to restrict purchases. It's good to restrict certain purchases, especially impulsive ones. The money you save by not buying unnecessary things will add up in the long run. However, Sethi expresses how only thinking in terms of restrictions can lead to an unsatisfying life.
"No, you can&#8217;t buy coffee. No, you can&#8217;t buy jeans. No, you can&#8217;t go on vacation. Save your money until you&#8217;re 96 years old and then maybe you can take a trip in economy seats," he told&nbsp; Moneywise.
Sure, it may benefit some people to cut down on coffee or avoid the latest fashion items. However, if you have a $10 million account but feel dead inside because of the missed opportunities, was relentless saving really worth it? That's the idea Sethi wants more people to consider as they work toward their financial goals.
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>
<h2 class="wp-block-heading">Spending Money Meaningfully</h2>
A rich life isn't just tied to a net worth. Sethi views a rich life as the ability to build wealth, achieve personal growth, and have a life aligned with your values. Spending money meaningfully gives people the flexibility to make big purchases if they provide long-lasting memories.
For instance, some people may say that you can't afford to go on any vacations while you are in debt or building up to a $1 million portfolio. <a href="https://www.benzinga.com/personal-finance/25/04/44587016/dave-ramsey-says-a-600k-salary-should-be-enough-so-why-is-this-couple-living-paycheck-to-paycheck-one-disgusting-expense-to-blame">Looking at your budget</a> and cutting out a bunch of expenses is a good decision when you are looking to build wealth. However, Sethi's approach to building a rich life would allow people to go on a big vacation if it's on their bucket list.
Spending money meaningfully can help you cut down on purchases that don't have any meaning. You may become sharper with your money and more inspired to boost your income if you know you can spend it on meaningful purchases.&nbsp;
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.55 per share now</a>.
<h2 class="wp-block-heading">Don't Always Fixate On Costs</h2>
Sethi told Moneywise that he believes people who fixate on every cost "suck the life out of every room." This approach demonstrates that it's good to focus on costs in some areas, but it's worth ignoring the price tag if a purchase is meaningful.
Meaningful purchases don't always come. In fact, the fewer purchases you make for yourself, the more meaningful they are. It's similar to a room filled with clutter versus a room with a few items. Each individual item in a cluttered room doesn't carry as much meaning as the few items in a tidy room.
You can fixate on some costs, and it's good to observe when this happens. If you're thinking about the cost, it probably isn't a meaningful purchase. However, if the thought of buying something is more significant than its cost, then it may be a meaningful purchase.
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<li><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.</li>
<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
</ul>

Personal Finance

Ramit Sethi Shares A Valuable Lesson About Money That Most People Miss: 'Few People Teach You How To Spend Money Meaningfully'

Charlie Munger wasn't just Warren Buffett's right-hand man—Buffett once called him the "architect of Berkshire Hathaway." He was a machine of rational thinking, known for <a href="https://www.benzinga.com/personal-finance/25/03/44146342/charlie-munger-said-he-was-passionate-about-getting-rich-but-not-because-i-wanted-ferraris-i-wanted-the-independence">cutting through Wall Street hype</a> with a few words sharper than most analysts' full reports. But even the sharpest minds miss the mark now and then.
In 2021, Munger made a bold bet on Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>). He didn't whisper it either—he went all in through the Daily Journal Corporation, where he served as chairman, snapping up 165,000 shares of the Chinese tech giant. As the price dropped, he doubled down, building the position to over 600,000 shares—worth about $72 million and nearly 30% of the portfolio.
Then came the U-turn.
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<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
</ul>
The same man who had praised Alibaba's strategic positioning in China's internet ecosystem called the move "one of the worst mistakes I ever made." At the <a href="https://www.youtube.com/live/9VVPO3KWj3A?si=f8EWUfxwW4Gj27K0">Daily Journal's 2023 annual meeting</a>, Munger admitted:
"I got charmed by the idea of their position in the Chinese internet; I didn't stop to realize they're still a goddamn retailer. It's going to be a competitive business, the internet — it's not going to be a cakewalk for everybody."
He also added, "I keep rubbing my own nose in my own mistakes like I'm doing now because I think it's good for myself."
Alibaba's stock had been battered by regulatory crackdowns, founder Jack Ma's disappearing act, and a broader market chill toward Chinese companies. Munger criticized Ma directly, <a href="https://youtu.be/NZzv2GJxRaw?si=YzvigfQEJ1CXEtkK">calling him "very arrogant"</a> for publicly taking shots at Chinese regulators.
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>
At that point, it <a href="https://www.benzinga.com/news/25/03/44238467/warren-buffett-shares-biggest-investing-mistakes-433m-deal-that-cost-berkshire-billions-and-trillion-dollar-tech-stocks-he-missed">seemed like a rare Munger misfire</a>. The stock had nearly halved, and Daily Journal started trimming its stake. By Q1 2024, the holding was down to 195,000 shares—worth just $16.5 million at the time.
But then something happened.
Since Munger's death in November 2023, Alibaba stock has rebounded—hard. It's up 74% <a href="https://www.businessinsider.com/charlie-munger-alibaba-stock-ma-mistake-china-tech-byd-buffett-2025-3">according to Business Insider</a>, driven by surprisingly strong earnings and a push into artificial intelligence. In February, Alibaba blew past analyst expectations, <a href="https://www.businesswire.com/news/home/20250219393026/en/Alibaba-Group-Announces-December-Quarter-2024-Results">reporting $38.5 billion in revenue</a> and EPS of $2.93. AI products racked up triple-digit growth for six quarters in a row.
So was it really one of the worst mistakes of his investing career?
See Also: <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.
Maybe not. The rebound doesn't erase the pain of mistiming or the political risks Munger flagged. But the story of Alibaba now reads less like a disaster and more like a case of brutal short-term volatility that clouded long-term potential.
The Daily Journal still holds its smaller stake. Whether that holding grows again remains to be seen—but it's clear that what looked like a major blunder may have just needed more time.
Munger often said, "<a href="https://www.benzinga.com/personal-finance/25/03/44065682/charlie-munger-shared-advice-for-the-young-but-it-applies-to-all-if-youve-got-anything-you-really-want-to-do-dont-wait-until-youre-93">All I want to know is where I'm going to die, so I'll never go there</a>." Turns out, even he couldn't always predict which bets would live and which would come roaring back from the grave.
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<li><a href="https://www.benzinga.com/money/mark-cubans-advice-for-lotto-winners">Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?</a></li>
<li><a href="https://www.benzinga.com/money/arrived-centennial">Jeff Bezos-Backed Arrived Homes Hits A Big Sale On Charlotte Property – Investors Earning A 34.7% Return</a></li>
</ul>

BABA

Charlie Munger Called Alibaba 'One of the Worst Mistakes I Ever Made'—Now It's Up 74% Since His Death, and That 'Goddamn Retailer' Is Surging

Mark Cuban has made billions, built companies, and basically turned being blunt into a brand. But if there's one thing he's not doing? Pretending it was all part of some master plan.
In a <a href="https://www.gq.com/story/mark-cuban-interview-advice">2023 GQ interview</a>, Cuban stripped the gloss off the billionaire success story. "Anybody who has a ‘B' next to their name, and they tell you they <a href="https://www.benzinga.com/personal-finance/24/06/39192298/warren-buffett-was-asked-if-he-had-to-start-over-in-his-30s-how-would-he-make-30-billion-today-h">could do it all again</a>, they're lying their ass off," he said. "You've got to have luck. You gotta have timing."
That wasn't self-deprecation. It was precision.
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Cuban isn't saying success is impossible or that everyone with <a href="https://www.benzinga.com/personal-finance/25/04/44618898/warren-buffett-said-cash-is-always-a-bad-investment-and-you-dont-need-excessive-amounts-but-hes-sitting-on-record-334-billion-cash-pil">money just rolled the dice</a> right. What he's pointing out is that there's more to the story than <a href="https://www.benzinga.com/personal-finance/24/11/42193386/mark-cuban-shared-600-a-month-dallas-apartment-with-5-guys-and-slept-on-the-living-room-floor-i-had-nothing-so-i-had-nothing-to-lose">grit and genius</a>. He had a solid idea, sure. He worked hard. But he also happened to understand networking right when the internet stock market blew up. That timing? Out of his control. "If I would have been born three years earlier, three years later, we probably would not be having this conversation," he said.
It's a rare kind of honesty in a world that loves to package ambition as a blueprint. Cuban doesn't buy into that fantasy—not for himself, and not for everyone else trying to make it.
He's not alone in this thinking. Warren Buffett has often spoken about winning the "ovarian lottery," acknowledging that being born in the right place at the right time played a significant role in his success. Similarly, Bill Gates has recognized the role of <a href="https://www.benzinga.com/personal-finance/25/02/43562104/bill-gates-was-the-richest-man-in-the-world-for-a-record-18-years-he-says-money-brings-freedom-but-beyond-that-its-the-same-hamburger">luck and timing in his journey</a>. In Malcolm Gladwell's book "Outliers," Gates discusses how having access to a computer at a young age was a rare opportunity that set him on the path to founding Microsoft.
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Elon Musk, while emphasizing hard work, also admits to the challenges and uncertainties in entrepreneurship. Speaking at a town hall in Green Bay, Wisconsin last month, he said, "It is true that most businesses that start do not succeed."
But that doesn't mean Cuban plays it safe. He's the same guy who called diversification "for idiots," though he now says that line came from a different time and market. "The only constant in life is change," he told GQ. His philosophy isn't about being right forever—it's about staying sharp while everything else shifts.
That same instinct led him to <a href="https://www.benzinga.com/personal-finance/25/03/44552923/mark-cuban-says-his-online-pharmacy-could-make-more-but-how-much-money-do-i-need-adds-in-elon-musk-dig-not-trying-to-land-on-mars">launch Cost Plus Drugs</a> with Alex Oshmyansky. It wasn't Cuban's idea, but he knew a system worth breaking when he saw one. Now they're undercutting pharma giants and drawing praise from The Wall Street Journal for it.
So yes, Cuban got lucky. But he also knew what to do when that luck showed up. The myth that success comes from a perfect plan? He's not buying it. And if he's being honest—neither should anyone else.
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Mark Cuban Said Billionaires Who Claim They Could Do It All Again Are 'Lying Their A** Off' — You've Got To Have 'Luck And Timing' To Get Rich

Charlie Munger, the longtime business partner of Warren Buffett, once voiced his disapproval of introducing young people to active stock trading, likening it to initiating them into heroin use.
What Happened: Munger expressed his contempt for active investment management during the yearly Daily Journal shareholder <a href="https://www.youtube.com/watch?v=X1Oi3esiry8">meeting </a>in 2019. He proposed that it might be detrimental to novice investors.
Munger compared the contemporary world&#8217;s efforts to promote active stock trading among the youth to persuading them to start using heroin. Instead, he lauded large index funds as a superior choice for regular investors looking to gain&nbsp;exposure to the stock markets.
"If you take the modern world where people are trying to teach you to come in and trade actively in stocks, well I regard that as roughly equivalent to trying to induce a bunch of young people to start off on heroin," Munger said.
Also Read: <a href="https://www.benzinga.com/news/25/02/43581818/charlie-mungers-four-life-lessons-consume-less-than-you-accumulate-invest-judiciously-persistently-learn-and-uphold-discipline">Charlie Munger&#8217;s Four Life Lessons: &#8216;Consume Less Than You Accumulate, Invest Judiciously, Persistently Learn, and Uphold Discipline&#8217;</a>
Furthermore, he lambasted many active stock pickers, implying they are in denial about the worth of their expertise vis-à-vis the fees they impose on&nbsp;clients. &#8220;They have a horrible&nbsp;problem they can&#8217;t fix so&nbsp;they just treat it as&nbsp;nonexistent,&#8221; Munger added.
"It's wrong to have all these people in just a state of denial and doing what they've always did year after year, and hoping that the world will keep paying them for it even though an unmanned index is virtually certain to do better," he said. 
Despite his critique of active investment management, Munger conceded that it&#8217;s permissible for investors to hold a limited&nbsp;number of stock positions if&nbsp;their goal is to outperform the wider stock markets. He underscored the significance of investing in sectors where one possesses additional knowledge.
Why It Matters: Munger&#8217;s comments highlight the potential risks associated with inexperienced investors engaging in active stock trading. His comparison to heroin use underscores the addictive nature of trading and the potential for significant financial loss. 
His endorsement of large index funds for everyday investors suggests a preference for more conservative, long-term investment strategies. His criticism of active stock pickers also raises questions about the value of their services in relation to their fees. 
This could potentially influence how investors approach their investment strategies and who they choose to manage their investments.
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Shutterstock: Kent Sievers

Success Stories

Markets

Charlie Munger Slams Teaching Stock Trading To Young People: 'It's Like Trying To Induce Young People To Start Off On Heroin'

The S&amp;P 500 descends into correction territory following President Trump&#8216;s tariff declarations.
What Happened: Stock prices plummeted in response to President Trump&#8217;s sweeping 10% tariffs&nbsp;on all U.S. trading partners&nbsp;announced the day before. 
This move has sparked concerns over a potential trade war and heightened inflation, both of which could steer the U.S. towards an economic slowdown. Consequently, the S&amp;P 500 has now dipped over 11% from its February peak, indicating its entry into correction territory.
Renowned investor Warren Buffett, in his 2017 <a href="https://www.berkshirehathaway.com/letters/2017ltr.pdf">letter </a>to shareholders, recommended a 19th-century poem as a tool to maintain composure during stock market downturns.
"There is simply no telling how far stocks can fall in a short period." But should a major decline occur, he continued, "heed these lines" from&nbsp;Rudyard Kipling's classic <a href="https://www.poetryfoundation.org/poems/46473/if---">poem </a>"If," Buffett wrote. 
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Buffett drew from Rudyard Kipling&#8217;s 1895 poem, "If you can keep your head when all about you are losing theirs. If you can wait and not be tired by waiting. If you can think and not make thoughts your aim. If you can trust yourself when all men doubt you. Yours is the Earth and everything that's in it."
"No one can tell you when these will happen. The light can at any time go from green to red without pausing at yellow," Buffett wrote in 2017.
Why It Matters: Buffett perceives downturns as &#8220;extraordinary opportunities&#8221; and encourages investors to adhere to their long-term plans and continue investing, irrespective of whether a decline is temporary or extended. 
He underscores that downturns are frequently succeeded by the market resuming its upward trend, and advises investors to seize these opportunities.
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Buffett's Warning as Stocks Plunge: 'The Light Can at Any Time Go From Green to Red'

Many Americans face a critical decision as they approach retirement: when to start collecting <a href="https://www.benzinga.com/personal-finance/25/03/44552524/sen-angus-king-on-social-security-whats-going-on-is-the-destruction-of-the-agency-from-the-inside-out-and-its-accelerating">Social Security benefits</a>. While some opt to claim as early as age 62, financial expert Suze Orman warns that this decision could be a major mistake.&nbsp;
On a recent episode of her &#8220;<a href="https://omny.fm/shows/suze-ormans-women-and-money/suze-school-your-must-do-s-for-right-now">Women &amp; Money</a>&#8221; podcast, Orman urged listeners to rethink early Social Security claims, emphasizing that fears about the program's future shouldn't dictate financial choices.
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<h2 class="wp-block-heading">The Fear of Social Security Running Out</h2>
Orman acknowledges that many people are worried about the long-term stability of Social Security. She said that some individuals rush to <a href="https://www.benzinga.com/personal-finance/25/01/43036312/grab-the-money-while-you-can-grant-cardones-unconventional-advice-for-those-eligible-for-social-security">claim benefits early</a>, fearing that if they wait, the system might collapse and they won't receive anything at all. However, she told her listeners to stop thinking that way because "you could be sabotaging your financial future."
Orman said that Social Security is a foundational part of financial security for millions of Americans and that it isn't going away any time soon.&nbsp;
"If they were to do something like that or if Social Security all of a sudden stopped sending you checks because the whole system crashed, there would be such an uproar," she said.&nbsp;
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<h2 class="wp-block-heading">Why Delaying Benefits Pays Off</h2>
Orman has consistently recommended waiting until age 70 to claim Social Security. By delaying, retirees can significantly increase their monthly payments. Under current rules, claiming at 62 results in reduced benefits, while waiting until full retirement age — age 66 or 67 depending on when you were born — allows recipients to receive 100% of their benefits. Those who hold off until 70 can receive even more — up to 32% higher than what they would get at full retirement age.
Orman cautioned against making hasty decisions based on fear, urging people to consider the long-term benefits of waiting. "Don&#8217;t claim at 67 when you were going to wait till 70 because you&#8217;re afraid that if you&#8217;re not already claiming that therefore you&#8217;ll maybe be cut," she advised.
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<h2 class="wp-block-heading">Potential Changes to Social Security</h2>
While Orman reassured listeners that Social Security won't disappear, she acknowledged that changes to the program are likely. Instead of cutting benefits for current recipients, she believes lawmakers may gradually <a href="https://www.benzinga.com/personal-finance/25/03/44552100/i-have-no-doubt-theyre-going-to-raise-the-full-retirement-age-possibly-to-70-suze-orman-weighs-in-on-social-security-fears">increase the eligibility age</a> for future retirees. "What they&#8217;re going to do is, like I told you before, they will postpone the age that you can get your Social Security," she explained.
She also pointed out that recent government layoffs and <a href="https://www.benzinga.com/25/03/44540084/mark-cuban-says-closing-social-security-offices-and-ending-phone-support-is-just-a-back-door-way-to-cut-benefits-calls-it-horrific-for-seniors">office closures</a> could make it harder for people to apply for benefits or get answers to their questions. Orman encouraged listeners to be proactive and call their congresspeople and senators to urge them not to lay off Social Security workers.&nbsp;
<h2 class="wp-block-heading">Steps to Take Now</h2>
For those concerned about Social Security, Orman recommends taking practical steps to prepare:
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<li>Create an online "<a href="https://www.ssa.gov/myaccount/">my Social Security</a>" account to track your benefits.</li>
<li>Gather necessary documents so you&#8217;re ready when it&#8217;s time to apply.</li>
<li>Stay informed about potential policy changes.</li>
<li>Advocate for Social Security resources by reaching out to lawmakers.</li>
</ul>
Ultimately, Orman says patience and planning are key. While uncertainty exists, she remains confident that Social Security will continue to be a cornerstone of retirement planning for millions of Americans.
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Suze Orman Says Stop Collecting Social Security Early Because 'You Could Be Sabotaging Your Financial Future'

The Centers for Medicare &amp; Medicaid Services has reportedly eliminated jobs in multiple key divisions, including its Office of Minority Health, as part of a sweeping restructuring <a href="https://www.benzinga.com/25/03/44514142/rfk-jr-to-announce-10000-job-cuts-shut-regional-agencies-in-a-major-health-department-overhaul-report" target="_blank" rel="noreferrer noopener">effort led by Health and Human Services Secretary </a><a href="https://www.benzinga.com/25/03/44514142/rfk-jr-to-announce-10000-job-cuts-shut-regional-agencies-in-a-major-health-department-overhaul-report" target="_blank" rel="noreferrer noopener">Robert F. Kennedy Jr.</a>
During a virtual all-hands meeting on Friday, CMS Acting Administrator Stephanie Carlton confirmed that the cuts were part of Kennedy's broader plan to downsize the Department of Health and Human Services, CNBC reports.
Though CMS saw about 300 job cuts, the overall plan affects 10,000 HHS employees and marks one of the most significant federal health workforce reductions in decades.
Offices hit include the Office of Minority Health, which focuses on eliminating health disparities, and the Medicare-Medicaid Coordination Office, which serves individuals eligible for both programs, the report adds.
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Carlton also cited significant reductions in the Office of Program Operations &amp; Local Engagement—tasked with local stakeholder outreach—and an office managing grants and contracts.
Carlton said the layoffs aimed to streamline overlapping divisions while maintaining critical services.
Dr. Mehmet Oz, confirmed by the Senate this week to lead CMS, is expected to address employees in a follow-up meeting, CNBC adds.
Once known as "America's Doctor," Oz brings a controversial public health reputation due to his promotion of unproven supplements.
Kennedy has acknowledged the potential for mistakes in the cuts and suggested some programs may be reinstated.
Meanwhile, the U.S. faces urgent health challenges—including a major measles outbreak and growing bird flu concerns—while the FDA has been forced to scale back<a target="_blank" href="https://www.benzinga.com/25/02/43900398/measles-cases-surge-5x-in-us-in-a-week-cdc-reports-outbreak-primarily-originating-from-a-texas-county" rel="noreferrer noopener"> food safety testing due to staffing losses</a>.
The legal status of shuttering the Office of Minority Health remains unclear, given its authorization under the Affordable Care Act.
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Equities

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Office of Minority Health Targeted as RFK Jr. Drives Deep Cuts Across CMS

Republican leaders are reportedly standing firm in their support for President Donald Trump despite internal worries about his global tariffs.
What Happened: According to a report,&nbsp;Speaker Mike Johnson and Senate&nbsp;Majority Leader John Thune have not indicated any intention of pressuring the Trump administration to change its tariff policies. This comes in spite of a 10%&nbsp;drop in the stock market&nbsp;and cautionary statements&nbsp;from Federal Reserve Chair Jerome&nbsp;Powell.
Despite their personal pro-free-trade beliefs and the private concerns of their party members, both leaders have decided to give the Trump administration time to stabilize the economic situation. Thune, who has previously expressed concerns about the effect of tariffs on his home state of South Dakota, is particularly noteworthy, <a href="https://www.politico.com/news/2025/04/04/mike-johnson-john-thune-trump-tariffs-republicans-00273959">reports</a> Politico.
However, the political necessity of having Trump and lawmakers aligned with his Make America Great Again (MAGA) agenda to advance the GOP&#8217;s legislative agenda is a reality both leaders must contend with. As Sen. Kevin Cramer (R-N.D.) stated, &#8220;If Republican members start drifting away from supporting President Trump, everybody gets weaker.&#8221;
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The approach of Thune and Johnson mirrors the reluctance among the GOP members, who fear that even slight criticism could incite the president&#8217;s&nbsp;wrath and a primary challenge.&nbsp;They also rely on the administration&#8217;s backing to obtain&nbsp;exemptions for their states or&nbsp;support for industries impacted by the tariffs.
Why It Matters: The GOP leaders&#8217; stance on the tariffs issue is crucial as it reflects the broader party&#8217;s approach towards the Trump administration&#8217;s policies. 
Their decision to support the tariffs, despite internal concerns and potential economic fallout, underscores the political dynamics within the GOP. 
It also highlights the influence of Trump&#8217;s MAGA agenda on the party&#8217;s legislative strategy, which could have significant implications for future policy decisions.
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Amid Tariff Turmoil, Here's Why Mike Johnson and John Thune Stand by Trump

When your dad manages billions and has a knack for <a href="https://www.benzinga.com/personal-finance/25/04/44618898/warren-buffett-said-cash-is-always-a-bad-investment-and-you-dont-need-excessive-amounts-but-hes-sitting-on-record-334-billion-cash-pil">multiplying money</a>, you'd think he'd at least spring for a movie ticket. But growing up Buffett meant never being too sure—about tickets, snacks, or anything that even hinted at a freebie. Especially not popcorn.
Because even if Warren Buffett brought you to the movies, there was a real chance you'd still be pulling out your own wallet. And the popcorn? Don't even think about it.&nbsp;
In 1990, <a href="https://fortune.com/2012/11/21/the-children-of-the-rich-and-famous/">Fortune</a> asked the children of the rich and famous what it was like growing up with money. Buffett's son, Howard, didn't exactly describe a childhood of endless yeses.
"If you went to the movies, you never knew if he would buy your ticket or not," Howard said. "His attitude was, ‘Everybody pulls his own weight.'"
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That line wasn't some performative bit for the press. It was Buffett in full dad-mode: discipline over dollars.
And even if you were lucky enough to score a paid-for ticket, the snack stand wasn't a sure thing either.
In "The Snowball: Warren Buffett and the Business of Life," biographer Alice Schroeder wrote about Buffett's habit of denying small requests—even when the family was surrounded by signs of wealth.
"The children went on nice vacations, enjoyed themselves at the country club, wore good clothes, and saw their mother's <a href="https://www.benzinga.com/25/03/44458811/billionaire-warren-buffett-still-drives-a-2014-cadillac-but-joked-charlie-mungers-idea-of-traveling-in-style-was-an-air-conditioned-bus">Cadillac and fur coats</a>. But they never got to take money for granted. Their father niggled over small amounts of money all the time and surprised them by denying little requests. If he took them to a movie, he might not pay for popcorn."
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Schroeder went on to explain Buffett's thinking when it came to these everyday denials: "If one of the kids asked for something, his answer might well be no: ‘If I did it for you, I'd have to do it for everyone.'"
No luxury limo lectures. No shouting from marble staircases. Just a guy in a modest Omaha house turning down popcorn on principle.
This wasn't just about snack bars or spare change. Even when Buffett's daughter, Susie, needed a $30,000 loan to remodel a cramped kitchen in her Washington home, he turned her down. According to Schroeder, Susie asked for help and got hit with a classic Buffett response:
"‘Why not go to the bank?' he asked, and <a href="https://www.benzinga.com/personal-finance/24/09/40881429/warren-buffetts-daughter-asked-him-for-a-41-000-loan-to-remodel-her-kitchen-but-the-billionaire-">turned her down</a>." Buffett explained that "a football player on the Nebraska football team shouldn't inherit the starting quarterback position from his father, a former star quarterback." He wasn't trying to be cold, but he was sticking to principle. "He won't give it to us on principle," Susie said.&nbsp;
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In 2017, Susie told <a href="https://www.businessinsider.com/becoming-warren-buffett-facts-hbo-2017-1">Business Insider</a> her father unfairly gets a bad rap, saying; &#8220;I actually agree with his philosophy of not dumping a bunch of money on your kids. He has been much more generous than people are aware. I feel extremely grateful to have the parents I had and for what they&#8217;ve given us."
This was Buffett's parenting style: down-to-earth, dollar-aware, and pretty unpredictable when you were standing in line at the theater. He didn't want his kids growing up with a built-in sense of "of course." He wanted them to question it, <a href="https://www.benzinga.com/personal-finance/25/03/44482365/warren-buffetts-son-wasnt-raised-like-a-billionaires-kid-he-mowed-lawns-and-cleaned-gutters-because-there-are-jerks-with-money-and-jerks-without">earn it, or pay for it themselves</a>.
And for Howard, that sometimes meant budgeting for your own ticket… and bringing exact change for Raisinets.
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Warren Buffett's Kid Says They Had To Pull Their Own Weight — 'If You Went to the Movies, You Never Knew If He Would Buy Your Ticket Or Not'

President Donald Trump came under fire from Democrats on Friday after he spent the day at his Florida golf club amid economic <a href="https://www.benzinga.com/news/25/03/44550743/trump-organization-invests-1-5-billion-in-luxury-golf-and-urban-project-in-vietnam-amid-tariff-uncer" target="_blank" rel="noreferrer noopener">chaos and a solemn military event</a>.
Trump&#8217;s appearance at Trump International Golf Club West Palm Beach followed his recent announcement of sweeping global tariffs—moves that have sent U.S. markets into a tailspin and stoked fears of a looming recession, Politico <a href="https://www.politico.com/news/2025/04/04/trump-golf-stock-market-00006830" target="_blank" rel="noreferrer noopener">reports</a>.
While Trump was on the green, four U.S. soldiers&#8217; remains were returned to American soil after a training accident in Lithuania.
Trump did not attend the dignified transfer ceremony at Dover Air Force Base, prompting backlash from lawmakers, the report adds.
&#8220;Ceremony for fallen soldiers, mass layoffs, and cratering stock market happening today, but what&#8217;s Pres Trump doing? Attending a Saudi golf tournament at his resort,&#8221; <a href="https://x.com/RepDarrenSoto/status/1908183791505432610" target="_blank" rel="noreferrer noopener">posted</a> Rep. Darren Soto (D-Fla.) on X, formerly Twitter. &#8220;He fiddles while Rome burns…&#8221;
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The President also participated in a dinner event for the Saudi-backed LIV Golf tour Thursday night and has remained involved in brokering a potential deal between LIV and the PGA Tour.
His golf resorts have hosted numerous LIV events.
Democrats seized on the optics. &#8220;Recession fears are rising. The stock market is tanking. But don&#8217;t worry, Donald Trump is golfing,&#8221; wrote Rep. Jason Crow (D-Colo.). Sen. Tammy Duckworth (D-Ill.) sarcastically added, &#8220;At least he&#8217;s getting some time to unwind.&#8221;
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Shutterstock: L.E.MORMILE

Critics Hit Trump for Golf Trip Amid Tariff Chaos, Troop Deaths: 'He Fiddles While Rome Burns'

In response to President Donald Trump&#8217;s sweeping new tariffs on global imports, Gov. <a href="https://www.benzinga.com/topic/gavin-newsom" target="_blank" rel="noreferrer noopener">Gavin Newsom</a> (D-Calif.) has directed his administration to pursue new <a href="https://www.benzinga.com/general/politics" target="_blank" rel="noreferrer noopener">strategic partnerships with international trading partners.</a>
&#8220;California is not Washington D.C.,&#8221; Newsom said in a video <a href="https://www.gov.ca.gov/2025/04/04/governor-newsom-directs-state-to-pursue-strategic-relationships-with-international-trading-partners-urges-exemptions-of-california-made-products-from-tariffs/" target="_blank" rel="noreferrer noopener">message</a> Friday, distancing his administration from Trump&#8217;s trade agenda.
Newsom is also calling for California-made products to be exempted from retaliatory tariffs, stressing that the Golden State remains committed to open, fair, and mutually beneficial trade.
The governor&#8217;s directive comes as the Trump administration imposes a 10% baseline tariff <a target="_blank" href="https://www.benzinga.com/markets/25/04/44656680/trumps-10-tariff-on-most-imports-is-finally-here-taking-effect-saturday" rel="noreferrer noopener">on all imports, triggering global retaliation.</a>
China, one of California&#8217;s largest trade partners, announced a 34% counter-tariff taking effect next week, raising concerns over the future of key industries like agriculture and manufacturing.
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Newsom emphasized the importance of protecting California&#8217;s $3.9 trillion economy—now the fifth-largest in the world—including its $675 billion in two-way trade and 1.1 million manufacturing jobs.
California leads the nation in agriculture, high-tech, and venture capital, and is home to 32 of the world&#8217;s top 50 AI companies.
The governor warned that retaliatory tariffs could severely damage California&#8217;s supply chains and export markets, especially for small businesses and farmers already struggling in a difficult economy.
Goods like steel, aluminum, and drywall—essential for rebuilding after recent wildfires—could also see price spikes due to the new tariffs.
Newsom&#8217;s administration will now work to identify partnerships that support cross-border trade, protect critical supply chains, and stabilize industries vulnerable to federal trade disruptions.
California has signed 38 international agreements under Newsom, reflecting a long-standing commitment to global cooperation.
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Shutterstock: Sheila Fitzgerald

Newsom Seeks Direct Trade Deals With Other Nations: 'California Is Not Washington D.C.'

President Donald Trump&#8216;s recent announcement of new tariffs sent the U.S. stock futures into a tailspin.
What Happened: The imposition of tariffs, including a 10% charge on all imported goods and a 25% levy on foreign automobiles, caused Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock to plunge 10% on Friday, wiping out $11 billion from CEO Elon Musk&#8216;s net worth. 
According <a href="https://www.bloomberg.com/news/articles/2025-04-03/stock-market-drop-erases-208-billion-from-bezos-zuckerberg-other-billionaires?sref=TBDibEcD">to</a> Bloomberg, this resulted in unprecedented losses on Thursday and Friday.
Reports indicate that Musk holds around 411 million Tesla shares, accounting for 12.8% of the company's total. A notable chunk of these shares was used as collateral to finance his purchase of Twitter, now known as X. 
Although details such as how many shares are pledged, the terms of his loan agreements, and the price point that could lead to a margin call haven't been made public, the implications could be considerable.
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Other tech giants also felt the heat on Friday, with&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) down 7.29%,&nbsp;NVIDIA Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) falling 7.36%,&nbsp;Amazon Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) dropping 4.15%,&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) decreasing 3.20%, and&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) down 5.06%.
Why It Matters: The significant drop in Tesla&#8217;s stock price is a clear indicator of the potential impact of political decisions on the stock market. The newly imposed tariffs have not only affected Tesla but also other tech giants, leading to a widespread market downturn. 
This event underscores the vulnerability of tech companies to global political and economic shifts. The decline in Tesla&#8217;s sales globally, coupled with the backlash against Musk&#8217;s political involvement, adds another layer of complexity to the situation. 
It remains to be seen how Tesla and other tech companies will navigate these challenges in the future.
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Shutterstock: Andrew Harnik

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Elon Musk Loses $11 Billion As Tesla Stock Plummets In Wake Of New Trump Tariffs

Israeli Prime Minister Benjamin Netanyahu is reportedly planning a visit to <a href="https://www.benzinga.com/markets/25/04/44656680/trumps-10-tariff-on-most-imports-is-finally-here-taking-effect-saturday" target="_blank" rel="noreferrer noopener">the White House on Monday</a>.
If the visit goes ahead, Netanyahu will meet with President Donald Trump in person to address key geopolitical and economic issues, including Trump&#8217;s newly imposed tariffs on Israeli goods, Axios <a href="https://www.axios.com/2025/04/04/netanyahu-visit-trump-wh-tariffs" target="_blank" rel="noreferrer noopener">reports</a>, citing sources familiar with the matter.
Secretary of State Marco Rubio spoke with Netanyahu on Friday, and their conversation included a discussion on tariffs.
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Israel had attempted to preempt the tariffs by announcing it would unilaterally remove all duties on U.S. imports, but the strategy failed. Trump set a 17% tariff rate on Israeli exports, citing the significant bilateral trade deficit.
During a call on Thursday—while Netanyahu was visiting Budapest—Trump invited him to Washington, suggesting the visit could happen as early as next week, Axios adds.
The announcement surprised both Israeli officials and Trump&#8217;s own aides, as the visit was initially expected to take place later in April during Passover.
However, Netanyahu&#8217;s attendance hinges on whether the judges overseeing his ongoing corruption trial will permit him to skip scheduled testimony next week.
Key issues expected to be on the agenda include the Iran nuclear threat and the ongoing war in Gaza, Axios adds.
A senior Israeli official indicated Axios that Netanyahu sees little chance for a successful U.S.-Iran nuclear deal and is eager to coordinate with Trump on potential military action if diplomacy fails.
The two leaders are also expected to revisit stalled ceasefire and hostage negotiations in Gaza.
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Shutterstock: noamgalai

Netanyahu May Meet Trump at White House on Monday, With Tariffs, Iran, and Gaza on the Table

According to MSNBC host Stephanie Ruhle, Treasury Secretary Scott Bessent is seeking an exit from Donald Trump&#8216;s administration after just two months on the job,
What Happened: Ruhle said on her Friday show that Bessent&#8217;s reputation has taken a hit due to the poor execution of Trump&#8217;s tariff policy, and he is seeking an out.
Ruhle sais that Bessent, who has a net worth of $521 million from managing large hedge funds, is finding it difficult to reconcile with Trump&#8217;s tariff math, which has been widely criticized for its rudimentary understanding of international trade, <a href="https://www.thedailybeast.com/msnbc-host-stephanie-ruhle-alleges-trumps-treasury-sec-looking-for-an-exit-door/">reports</a> Daily Beast.
The tariff announcement, made last week and referred to as &#8220;Liberation Day,&#8221; imposed a blanket 10%&nbsp;tariff on all U.S. imports&nbsp;and &#8220;reciprocal&#8221; tariffs on 180 countries. This resulted in a significant dip in stock futures,&nbsp;with the Dow Jones Industrial&nbsp;Average experiencing its worst day since 2020.
Reports suggest that Trump is &#8220;not listening&#8221; to Bessent, who appears to be increasingly isolated within the president&#8217;s inner circle. Bessent, who has a deep understanding of market dynamics, has been more cautious in his approach, previously describing&nbsp;the use of sweeping tariffs&nbsp;as &#8220;maximalist&#8221; positions.
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After the tariff rollout, Bessent cautioned countries against retaliation. However,&nbsp;on Friday, China announced a&nbsp;retaliatory 34%&nbsp;tariff on all U.S. imports, leading to another stock market plunge.
Why It Matters: The alleged exit of Bessent could further destabilize the Trump administration, which is already facing criticism for its handling of the tariff rollout. The tariff debacle has not only affected the U.S. stock market but has also strained international relations, particularly with China. 
Bessent&#8217;s departure could signal a lack of confidence in the administration&#8217;s economic policies, potentially leading to further market volatility.
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Shutterstock: Jimwatson

MSNBC's Ruhle: Treasury Secretary Bessent Looking for an Exit Amid Tariff Chaos

Elon Musk has an idea, and this time, it's not about Mars, AI, or self-driving cars. The Tesla and SpaceX CEO, along with President Donald Trump, is now calling for a livestream of <a href="https://www.foxbusiness.com/economy/elon-musk-says-fort-knox-gold-reserves-should-livestreamed">Fort Knox's gold reserve</a>s—just to make sure the gold is still there.
&#8220;I mean, that would be really fun. And after all, it is actually the gold of the American people, so the American people, it seems to me, have a right to see their gold,&#8221; Musk said. &#8220;Hopefully, it looks really cool. You know, open the doors like, ‘Is it there? Is that really gold? Let's check.' Maybe it'll be really interesting,&#8221; he added.
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His suggestion came in response to a social media post asking whether he would check on the U.S. Bullion Depository's reserves. &#8220;Would be awesome to livestream Fort Knox.&#8221; The idea quickly picked up traction, with Trump reportedly supporting it.
<h2 class="wp-block-heading">What's in Fort Knox, and Why Are People Suspicious?</h2>
Fort Knox, located in Kentucky, is one of the most secure places on Earth. It holds approximately 147.3 million troy ounces of gold bullion, worth over $459.2 billion at current market prices. According to the <a href="https://www.usmint.gov/about/tours-and-locations/fort-knox?srsltid=AfmBOorAKfMwGFU3cNWbLEtFSJ31roUnftZ9i27yKhJKN5E3djpNF2s3#accordion-d08d17b2a7-item-13f72f12ff">U.S. Mint</a>, the last audit confirmed every ounce is still there.
However, that hasn't stopped conspiracy theories from circulating. Rumors have long suggested that some—or all—of the gold might be missing, replaced with fake bars, or even moved without public knowledge.&nbsp;
The secrecy surrounding Fort Knox fuels speculation, as very few people have been granted access.
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Musk and Trump are among those questioning whether America's gold reserves have remained untouched. &#8220;Who is confirming that gold wasn't stolen from Fort Knox?&#8221; Musk wrote <a href="https://x.com/elonmusk/status/1891555910218097122?">on X</a> on Feb. 17, playfully speculating: &#8220;Maybe it's there, maybe it's not.&#8221;
<h2 class="wp-block-heading">Has Anyone Actually Seen the Gold?</h2>
Despite public skepticism, current and former government officials insist the gold is safe. Treasury Secretary Scott Bessent <a href="https://www.facebook.com/DanODonnellShow/videos/exclusive-treasury-secretary-scott-bessent-confirms-to-me-that-yes-there-is-stil/1117913866735106/">said in February</a> that a full audit is conducted annually. &#8220;The audit that ended Sept. 30, confirmed all the gold is present and accounted for,&#8221; he said.
Trump's former treasury secretary, Steven Mnuchin, also visited Fort Knox in 2017. He later told <a href="https://www.youtube.com/watch?v=hkJk_m5r-F0">CNBC</a>, &#8220;The gold was there when I visited it. I hope nobody's moved it. I'm sure they haven't.&#8221; Mnuchin was the first Treasury secretary to visit the facility in over 50 years.
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<h2 class="wp-block-heading">A Livestream of Fort Knox? Here's Why It's Complicated</h2>
While a Fort Knox livestream sounds exciting and possibly the best reality show ever, security concerns make it unlikely.&nbsp;
The depository is one of the most heavily guarded locations in the world, and access is restricted to only a select few government officials. The last time reporters were allowed inside was in 1974.
The U.S. Mint maintains the &#8220;only gold removed has been very small quantities used to test purity during regularly scheduled audits.&#8221; Otherwise, no gold &#8220;has been transferred to or from the Depository for many years.&#8221;
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Elon Musk Wants To 'Livestream Fort Knox'—Says Americans Have A Right To See Their Gold: 'Is It There? Let's Check.'

In a significant market downturn since President Donald Trump announced new tariffs worldwide, the world&#8217;s wealthiest individuals have seen their fortunes shrink by $74 billion.
What Happened: The market turmoil following Trump&#8217;s sweeping tariffs led to a considerable loss in wealth for the top 10 richest people globally. The S&amp;P 500 experienced a near 5% drop,&nbsp;the Dow lost 1,679 points,&nbsp;and the Nasdaq composite plunged&nbsp;6%.
Elon Musk, who has been facing public backlash for his association&nbsp;with the White House DOGE&nbsp;office and subsequent boycotts against&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), saw his net worth decrease by $11 billion. Musk&#8217;s wealth is primarily tied to his stake in Tesla.
Similarly, Jeff Bezos,&nbsp;the founder and executive chairman&nbsp;of&nbsp;Amazon&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), suffered a $15.9 billion reduction in his wealth.&nbsp;Meta&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>)&nbsp;Mark Zuckerberg&nbsp;lost $17.9 billion amid criticism over the rollback of fact-checking on Meta platforms.
Other billionaires who felt the impact include&nbsp;Warren Buffett&nbsp;of&nbsp;Berkshire Hathaway&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>),&nbsp;Bernard Arnault&nbsp;of LVMH (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMUY#OTC">LVMUY</a>),&nbsp;Bill Gates,&nbsp;Larry Ellison&nbsp;of&nbsp;Oracle&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>),&nbsp;Larry Page&nbsp;and&nbsp;Sergey Brin&nbsp;of&nbsp;Alphabet&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and former Microsoft CEO&nbsp;Steve Ballmer.
Why It Matters: The significant loss in wealth for these billionaires underscores the far-reaching impact of Trump&#8217;s tariffs on the global economy. 
The market downturn not only affects the world&#8217;s richest but also has potential implications for average investors and the broader economy. 
The tariffs, intended to protect domestic industries, have sparked market chaos and uncertainty, leading to significant financial losses for some of the world&#8217;s most influential business leaders.
Shutterstock: Nmorguelan

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