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TIM, which is 67%-owned by Telecom Italia, is the third largest wireless carrier in Brazil, with 62 million subscribers, equal to about 24% of the market. The firm also owns 49% of I-Systems, an infrastructure partnership that is expanding its network footprint across Brazil. I-Systems can provide broadband service to about 9 million locations, equal to 10%-15% of the country. TIM leases capacity on the venture's network to serve retail broadband customers under the UltraFibra brand. TIM also resells fiber network access from other providers, including Oi's former infrastructure business V.tal, which passes about 22 million customer locations.

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Grant Cardone, the entrepreneur and motivational speaker known for his <a href="https://www.benzinga.com/personal-finance/24/08/40166983/grant-cardone-says-earning-400-000-a-year-is-embarrassing-as-a-human-being-asks-how-do-you-make-">bold takes on money and success</a>, recently <a href="https://x.com/GrantCardone/status/1870514005896564786">tweeted</a> a powerful statement: &#8220;America should have the wealthiest middle class in the world bar none!&#8221;
The tweet sparked conversations about the current state of America's middle class. Cardone's sentiment is clear – the U.S. middle class should set the global standard for wealth. But is that vision realistic in today's economic landscape?
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">America should have the wealthiest middle class in the world bar none!
&mdash; Grant Cardone (@GrantCardone) <a href="https://twitter.com/GrantCardone/status/1870514005896564786?ref_src=twsrc%5Etfw">December 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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<h2 class="wp-block-heading">A Shrinking Majority</h2>
Over the past five decades, the U.S. <a href="https://www.benzinga.com/personal-finance/24/09/41102547/is-your-income-higher-than-the-average-middle-class-household-heres-what-theyre-earning">middle class has steadily shrunk</a>. According to <a href="https://www.pewresearch.org/short-reads/2022/04/20/how-the-american-middle-class-has-changed-in-the-past-five-decades/">Pew Research</a>, the proportion of adults living in middle-class homes decreased from 61% in 1971 to 50% in 2021. Meanwhile, the proportion of adults in higher and lower income brackets increased, indicating growing income disparity. The upper-income tier grew from 14% in 1971 to 21% in 2021, while the lower-income tier expanded from 25% to 29%.
Although household incomes have risen since 1970, middle-class earnings haven't grown as much as those of upper-income households. From 1970 to 2020, the median income for middle-class households grew by 50%, while for upper-income households, it grew by 69%. This <a href="https://www.benzinga.com/personal-finance/24/05/38762342/how-much-do-you-need-to-join-the-richest-1-it-may-be-less-than-you-realize">concentration of wealth among the richest</a> Americans has widened the economic gap.
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<h2 class="wp-block-heading">What Defines the Middle Class?</h2>
Being middle class <a href="https://www.benzinga.com/personal-finance/24/02/37264496/what-does-it-mean-to-be-middle-class-hint-its-more-than-how-much-you-make">isn't just about income</a> but financial stability. A Washington Post survey found that most people agree it's also about financial security. To truly be middle class, you need to have a steady job, save money, pay bills without stress, handle a $1,000 emergency without going into debt, have health insurance and plan for a comfortable retirement.
Sadly, only about one-third of Americans meet all these standards. This shows that being middle class is more than just income; it's about having stability and being prepared for life's challenges.
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The middle class has always been a key part of the U.S. economy. In 1970, middle-class households earned 62% of the country&#8217;s income. By 2020, that number had dropped to 42%. Meanwhile, upper-income households' share of total income rose from 29% to 50%.
This <a href="https://www.benzinga.com/general/24/02/36941891/the-wealth-gap-widens-the-5-richest-billionaires-got-2x-richer-as-5-billion-people-continue-to-get-p">growing gap between rich and poor</a> can hurt the economy. A strong middle class drives spending, keeps the economy growing and makes society more stable. Cardone's idea of a wealthy middle class highlights the importance of closing the gap and giving more people the chance to succeed.
<h2 class="wp-block-heading">Who's Moving Up the Income Ladder?</h2>
Certain groups have made progress over the past 50 years: older adults (65+) saw their share in the upper-income tier rise from 7% in 1971 to 16% in 2021, thanks to factors like Social Security, education and increased workforce participation. Black adults maintained their middle-class share at 47%, even as other racial groups saw declines. Married individuals and dual earners are likelier to be in the upper-income tier, highlighting the financial advantages of combined household incomes.
Trending: 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>
<h2 class="wp-block-heading">Can Cardone's Vision Become Reality?</h2>
Grant Cardone's vision of a <a href="https://www.benzinga.com/personal-finance/24/09/40711869/how-rich-are-you-heres-the-net-worth-that-defines-upper-middle-and-lower-class">thriving middle class</a> is essential for America's long-term economic health. To make it happen, the country needs to take big steps to reduce income inequality, improve access to education and create policies that help families build financial security.
The U.S. middle class was once a global benchmark. Cardone's statement reminds us of its importance and challenges us to reimagine what's possible. With the right focus and effort, America's middle class could become the wealthiest in the world – bar none.
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Grant Cardone Says, 'America Should Have The Wealthiest Middle Class In The World, Bar None'

New York City Council approved a rezoning plan on Dec. 5, clearing the way for 82,000 new apartments and $5 billion in infrastructure and housing development over 15 years. It marks the largest zoning change since 1961.
The City of Yes for Housing Opportunity plan passed by a 31-20 vote amid a citywide vacancy rate of 1.4%. The Regional Plan Association projects New York needs 473,000 additional housing units by 2032 to meet demand.
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Mayor Eric Adams launched the plan after data showed job growth outpacing housing development across New York for four decades. The zoning overhaul allows developers to build more units in districts where households earn 60% or below the Area Median Income, removes parking requirements in targeted neighborhoods and creates two high-density zones.
Under the new rules, property owners <a href="https://www.benzinga.com/real-estate/24/12/42617007/ignore-new-york-at-your-peril-nyc-office-market-hits-overdrive-breathing-life-into-the-citys-business-and-real-estate">can convert vacant offices into apartments more easily</a>. Churches and campus properties receive expanded rights to construct buildings, while homeowners gain permission to add basement units and backyard cottages in designated areas.
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&#8220;It&#8217;s going to create a lot more opportunities and hopefully relieve some of the rental burden on tenants. It&#8217;s nice to see we&#8217;re shifting away from the NIMBY mentality and we&#8217;re fostering a pro-development sentiment in the marketplace,&#8221; Sean Kelly, partner at Ariel, told Forbes, which originally reported on the topic.
Real estate values <a href="https://www.benzinga.com/content/42585733/new-york-housing-market-sees-steady-price-growth-amid-slight-declines-in-sales-activity">stand to climb under the new rules</a>. Ariel said a Harlem development site could grow its buildable square footage by 20%. A Brooklyn property may see a 46% increase in floor area ratio, while an East New York location could expand development potential by 70%.
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The rezoning plan follows Gov. Kathy Hochul&#8217;s June housing policy, which extended the 421a tax abatement program&#8217;s deadline to 2031 and created tax exemptions (485x and 467m) for residential construction and office conversions.
Market activity shows momentum, with development sales volume up 25% from last year. Office-to-residential conversions make up over one-third of transactions, pointing to increased development in 2025 as the City of Yes takes effect.
The plan departs from past policies focused on landlord regulations, which removed thousands of units from the market. The new approach stresses building more housing across every neighborhood to increase supply.
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Real Estate

82,000 Apartments, $5 Billion: NYC's Rezoning Goldmine For Real Estate Investors

Over two years ago, OpenAI unveiled ChatGPT, a generative AI chatbot that revolutionized the industry. What began as a small project swiftly grew into the fastest-growing app in history (before Threads dethroned it later that year), currently boasting 200 million active users. One thing is evident even though its effects on businesses and daily life are still evolving: ChatGPT has been a huge boon for Big Tech.
According to Bloomberg, the six largest tech companies – Google, Amazon, Apple, Meta, Microsoft and Nvidia – have added over $8 trillion in market value since its launch.
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When ChatGPT went live, it kicked off an AI boom, getting people and businesses excited about new possibilities. Nvidia, for one, has skyrocketed to become one of the <a href="https://www.benzinga.com/markets/equities/24/10/41245350/nvidia-poised-to-overtake-apple-as-worlds-most-valuable-company-how-much-jensen-huangs-company-n">world's most valuable companies</a>, even taking the number-one spot at times. AI demand has boosted its chip sales and positioned it as the backbone of this growing tech revolution. By December 2024, Nvidia's market cap had surged by an incredible $3 trillion, recovering from a $54 billion drop in value in January 2023 relative to ChatGPT's launch in November 2022, according to a report by Visual Capitalist.
Microsoft's trajectory has been similarly remarkable. After losing $194 billion in January 2023, its market cap rebounded by $1.2 trillion by December 2024, supported by growing AI and cloud adoption. Amazon's valuation followed suit, climbing by $1.1 trillion in November 2024. Meta and Alphabet saw big gains, too, with companies growing by $1.1 trillion and $845 billion in market cap by late 2024, respectively.
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Despite its initial volatility, Apple saw a recovery. By December 2024, its market capitalization had grown from losing $345 billion in January 2023 to gaining $1.1 trillion.
As companies of all sizes rushed to implement AI solutions, cloud providers like Microsoft, Amazon and Google experienced tremendous growth. According to Crunchbase data, generative AI businesses have been consuming venture funds, making up about 35% of all VC funding this year.
Having recently <a href="https://www.benzinga.com/startups/24/10/41312615/investors-pour-billions-into-openai-whats-driving-this-unprecedented-surge-in-funding">raised $6.6 billion</a> at a valuation of $157 billion, OpenAI has grown into a behemoth comparable to firms like AT&amp;T and Goldman Sachs.&nbsp;
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<h2 class="wp-block-heading">ChatGPT vs. Google</h2>
Perhaps the most intriguing shake-up is ChatGPT's rising challenge to Google's dominance in search. A survey showed <a href="https://www.benzinga.com/tech/24/12/42378596/openais-chatgpt-makes-headway-in-search-threatening-googles-reign">ChatGPT now captures 5%</a> of the search market, up from 1% in June, with Millennials leading the way.
But Google won&#8217;t be going down without a fight. According to 71% of users, its Gemini AI and new search functions are still more popular than ChatGPT. Nevertheless, even a small shift in search market share is worth billions.
OpenAI has taken aggressive steps to compete, rolling out a full search feature and partnering with Apple to make ChatGPT more accessible. Whether it can monetize these efforts as effectively as Google remains to be seen.
In the end, despite AI&#8217;s huge impact, established tech firms have reaped the most rewards. High costs and competition from big firms make it difficult for startups to compete. Smaller startups often focus on niche markets like health care and law to avoid competing with the internet giants.
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A Handful Of Big Tech Companies Surged By $8 Trillion In Market Value Since ChatGPT's Launch – Marking A New Era

<a href="https://en.yna.co.kr/view/AEN20241229001063315?section=national/national" title="https://en.yna.co.kr/view/AEN20241229001063315?section=national/national">https://en.yna.co.kr/view/AEN20241229001063315?section=national/national</a>

Yonhap Reported 179 Of 181 Passengers Aboard Jeju Air Boeing 737-800 Confirmed Dead Following Crash At Muan International Airport In S. Korea On Sunday; Pane's Land Gear Failed To Deploy

In a tragic incident, a passenger plane carrying 181 people crashed while attempting to land at Muan International Airport in South Jeolla Province, South Korea.
What Happened: The Jeju Air flight 7C2216, which had taken off from Bangkok, Thailand, crashed around 9:07 a.m. local time during its landing attempt at Muan International Airport, <a href="https://www.yna.co.kr/view/AKR20241229011752054">Yonhap News Agency</a> reported on Sunday. The B737-800 aircraft collided with the airport&#8217;s outer runway wall, causing the plane to break apart and subsequently catch fire. The plane was carrying a total of 175 passengers and six crew members.
See Also: <a href="https://www.benzinga.com/24/12/42680592/peter-thiel-once-said-he-would-bet-on-the-reversal-of-silicon-valleys-math-bias-as-ai-continues-to-rise-isnt-that-a-long-overdue-rebalancing-of-our-society?itm_source=parsely-api" target="_blank" rel="noopener">Peter Thiel Once Said He Would Bet On The Reversal Of Silicon Valley&#8217;s Math Bias As AI Continues To Rise:</a>
At present, two individuals have been rescued from the rear of the aircraft, while 23 have been confirmed as either deceased or injured. Authorities expect the casualty count to increase as they gain access to the front and middle sections of the aircraft. Police and fire departments are currently engaged in extinguishing the fire and conducting rescue operations from the rear of the aircraft.
Why It Matters: This unfortunate incident has once again brought the issue of aviation safety into the spotlight.
The exact cause of the crash is still unknown and will be determined after a thorough investigation. This incident will likely have a significant impact on the aviation industry, particularly on Jeju Air, and may lead to increased scrutiny and potentially stricter safety regulations in the future.
The incident also underscores the importance of emergency response and rescue operations in such critical situations.
Read Next: <a href="https://www.benzinga.com/general/social-media/24/12/42677188/elon-musk-calls-jeff-bezos-ex-wife-mackenzie-scotts-charitable-donations-concerning?itm_source=parsely-api" target="_blank" rel="noopener">Elon Musk Calls Jeff Bezos&#8217; Ex-Wife MacKenzie Scott&#8217;s $19 Billion Charitable Donations &#8216;Concerning&#8217;</a>
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Tragic Plane Crash At S.Korea's Muan International Airport: 181 On Board

Azerbaijan President Ilham Aliyev said Sunday that Russia inadvertently fired at an Azerbaijan Airlines flight over Russian airspace on Wednesday, leading it to crash just beyond Russia&#8217;s borders. Vladimir Putin expressed regret over the incident on Saturday, but Aliyev is calling on Moscow to accept full responsibility.
What Happened: The aircraft was unable to land at its intended destination in Grozny, Chechnya, and was diverted east, ultimately crashing near Aktau, Kazakhstan. The crash led to the loss of 38 lives, with two children among the survivors.
As per a report <a href="https://edition.cnn.com/2024/12/28/asia/russia-air-defenses-azerbaijan-airlines-crash-intl/index.html">by</a> CNN, the passengers on the flight hailed from Azerbaijan, Russia, Kazakhstan and Kyrgyzstan. The exact cause of the incident is yet to be confirmed, but preliminary findings hint at the possible involvement of a Russian anti-aircraft system. Russia has not accepted responsibility.
Putin conveyed his condolences to Aliyev. Putin "apologized for the fact that the tragic incident occurred in Russian airspace" in a phone call with Aliyev, the Kremlin said in a statement.
Aliyev told state television on Sunday that Russia had inadvertently fired upon the passenger plane, resulting in the catastrophic crash. He called on Moscow to accept full responsibility for the tragic incident, <a href="https://www.bloomberg.com/news/articles/2024-12-29/azerbaijan-airlines-crash-azeri-leader-says-russia-accidentally-shot-plane?sref=TBDibEcD">reports</a> Bloomberg.
"Part of the fuselage didn't burn, thanks to which today we can say openly that the plane was shot by Russia," Aliyev told state television. "We aren't saying that it was done intentionally, but it was done."
Aliyev's remarks came a day after a phone conversation with Putin, during which Putin expressed regret over the incident but stopped short of admitting Russian culpability. 
The two leaders spoke again on Sunday to discuss "various matters related to the crash," according to Kremlin spokesman Dmitry Peskov, as reported by Interfax.
Also Read: <a href="https://www.benzinga.com/markets/24/12/42714362/azerbaijan-airlines-flight-hit-by-external-interference-over-russia-before-fatal-crash">Azerbaijan Airlines Flight Hit by &#8216;External Interference&#8217; Over Russia Before Fatal Crash</a>
Images of the crashed plane reveal perforations akin to shrapnel or debris damage, though the exact cause of these perforations is yet to be determined.
In the aftermath of the incident, several airlines, including Azerbaijan Airlines, have temporarily halted flights to certain areas in Russia due to safety concerns.
Read Next
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Wikimedia Commons

Global

Azeri Leader Says Russia Shot Down Azerbaijan Airlines Flight, Putin Expresses Regret

Warren Buffett is a man of extremes. His net worth? Over $140 billion. His fans? So devoted that someone once paid a record-breaking $19 million just to have lunch with him. For most people, that level of fame and fortune screams "fascinating." Yet, according to his daughter, <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-">Susan Buffett</a>, the man behind Berkshire Hathaway is far from the larger-than-life figure the world imagines. In her words, he's actually "pretty boring."
Yes, boring. That's coming from the daughter of the guy who commands stadium-sized audiences at shareholder meetings. However, as Susan explained in a 2017 HBO documentary, the real Warren Buffett is nothing like the rock star people expect.
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"When we were growing up, he didn't have a lot of money and he wasn't famous," Susan said. "So we didn't see anything but a regular, normal situation in our house. He went to the office every day, came home and was at the dinner table. He did go upstairs and read the rest of the evening, but he was home. And we lived pretty much like everybody else. Nothing was too different. We lived in what I guess I would describe as an upper-middle-class neighborhood. He still lives in the same house today."
Susan also revealed that the scale of her father's success didn't sink in for a long time. "I <a href="https://www.benzinga.com/personal-finance/24/03/37855579/warren-buffetts-daughter-says-they-lived-like-everybody-else-she-didnt-know-her-dad-was-rich-unt">didn't really have any idea</a> about any money until I was long out of high school and out of Omaha [where they both lived and he still does]. I&#8217;d say there was an article in the Wall Street Journal when I was probably about 22 or 23. That was the first time I was like, ‘Oh, there's more going on than I knew about.'"
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And what about the personality behind those billions? Susan says the world might be surprised by how unassuming her father is. "He's pretty boring – it's just not what people expect," she told PEOPLE in a 2017 interview. "I think it's also probably surprising to people that the money doesn't matter to him. He made the money sort of by accident because he was really good at doing what he loved and when you do that particular thing really well, you end up with a whole bunch of money. But it's really true that he does not care about having a bunch of money."
While the world sees Warren Buffett as a financial titan, Susan sees the man still content in the same modest <a href="https://www.benzinga.com/real-estate/24/06/39333401/warren-buffett-paid-31-500-for-1921-home-despite-the-seller-asking-52-500-its-worth-1-4-million-but">home he bought in 1958</a>. To her, his billions are just a byproduct of his passion – not the point. And though she agrees with his financial philosophy, she values something more than money: the grounding perspective her father gave her.
Maybe the contrast is what makes Warren Buffett so interesting. To his fans, he's a billionaire investing icon worth. But to his daughter, he's <a href="https://www.benzinga.com/personal-finance/24/04/38157185/warren-buffetts-son-says-he-had-no-clue-what-his-dad-did-for-work-and-thought-his-job-was-checki">just a regular dad</a> who happens to be really, really good at math – and maybe a little too into his reading time.
Read Next:
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<li>The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a></li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
</ul>

Personal Finance

Billionaire Warren Buffett's Daughter Says He's Just A Normal Guy Who Doesn't Care About Money – 'He's Pretty Boring'

The past week in the crypto world was a mixed bag of events. From Shiba Inu&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) burn rate skyrocketing to Dogecoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) price dipping, there was no shortage of action. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also had its moment, teasing the $100,000 mark, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) experienced a bumpy ride. Here&#8217;s a quick recap of the major stories that unfolded over the week.
Shiba Inu Burn Rate Skyrockets
Despite a relatively flat performance for the SHIB/USD pair over the past week, the burn rates for Shiba Inu witnessed a significant increase. Benzinga&#8217;s technical analysis indicates an oversold RSI at 28.6 for Shiba Inu, suggesting a potential price rebound or reversal.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42692745/shiba-inu-burn-rate-spikes-2227-whats-going-on">Read the full article here.</a>
Dogecoin Price Dips, Whale Activity Surges&nbsp;
Despite a 4% drop in price, Dogecoin has seen a significant increase in whale activity, sparking speculation of a bullish phase among traders. Javon Marks, a trader, has pointed out historical patterns that suggest Dogecoin could rise beyond the 1.618 Fibonacci Extension level, as it has in previous cycles.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42682141/dogecoin-price-down-4-what-is-going-on">Read the full article here.</a>
Bitcoin, Ethereum Hold Steady Over Christmas
Leading cryptocurrencies Bitcoin and Ethereum remained steady on Christmas day, holding onto gains made the day before. Bitcoin reached a one-week high of $99,800 during overnight trading, narrowly missing the $100,000 milestone. Ethereum, on the other hand, experienced a wobbly trajectory.
<a href="https://www.benzinga.com/24/12/42679707/bitcoin-ethereum-gain-dogecoin-slips-as-sentiment-turns-positive-on-christmas-analyst-throws-reality-check-for-overexcited-participants">Read the full article here.</a>
Bitcoin, Ethereum, Dogecoin Pull Back After Christmas Rally
Leading cryptocurrencies witnessed a fall after a festive surge on Christmas gave way to profit-taking. Bitcoin, after teasing the $100,000 mark on Christmas, saw a steep decline, falling to an intraday low of $95,170. Ethereum also dropped to the $3,300 region.
<a href="https://www.benzinga.com/24/12/42696705/bitcoin-ethereum-dogecoin-retreat-after-christmas-surge-top-analyst-highlights-what-btc-needs-to-do-to-invalidate-bearish-outlook">Read the full article here.</a>
Dogecoin Whales on a Buying Spree
Whale investors purchased a staggering 270 million Dogecoin in less than four days, according to Ali, a prominent voice in the crypto community. The significant investment in Dogecoin was announced on Christmas Eve.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42676474/dogecoin-whales-load-up-coins-worth-92-million-over-4-days-as-meme-king-outperforms-bitcoin-ethereum-in-2024">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42679707/bitcoin-ethereum-gain-dogecoin-slips-as-sentiment-turns-positive-on-christmas-analyst-throws-reality-check-for-overexcited-participants?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Rise, Dogecoin Slides Amid Positive Christmas Sentiment: Analyst Cautions $110K Target For BTC Possible Only When&#8230;</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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

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

Cryptocurrency

$BTC

$DOGE

$ETH

$SHIB

Shiba Inu Burn Rate Soars, Dogecoin Whales On A Buying Spree And More: This Week In Crypto

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) scripted history in 2024, not only breaking the long-held record of $69,000 but also hitting the magical $100,000 milestone.&nbsp;
A slew of crucial developments occurred throughout the year, providing strong impetus to the apex cryptocurrency.&nbsp;
With the New Year knocking on our doorsteps, let's look back at some of the most pivotal bullish triggers for Bitcoin in 2024.
Trump Presidency: The electoral triumph of Donald Trump, who aggressively marketed himself as a cryptocurrency-friendly candidate during the campaign, proved to be the biggest positive driver for Bitcoin.
Since the elections, the leading cryptocurrency has surged 41%, hitting a peak of $108,000.&nbsp;
Trump pledged to establish a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42505162/trump-reportedly-considering-executive-order-to-establish-strategic-bitcoin-reserve">national Bitcoin reserve</a> on the campaign trail, and reports suggested he might pass an<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42505162/trump-reportedly-considering-executive-order-to-establish-strategic-bitcoin-reserve"> executive order</a> to establish one. 
He also appointed <a href="https://www.benzinga.com/24/12/42356067/venture-capitalist-david-sacks-appointed-as-white-house-ai-crypto-czar-by-trump">pro-cryptocurrency venture capitalist</a> David Sacks as the first-ever "White House A.I. &amp; Crypto Czar,&#8221; signaling a commitment to fulfill his election promises. 
Demand from Bitcoin ETFs: The successful launch of the first-ever U.S. <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36603461/bitcoin-etf-launch-shatters-records-attracts-over-4-billion-biggest-day-one-splash-in-etf-">exchange-traded funds that track the price of Bitcoin</a> in early 2024 set the stage for broader institutional adoption of the cryptocurrency.
Since listing, the ETFs have seen net inflows of nearly $36 billion, with over $2 billion in transactions recorded as of Dec. 26, <a href="https://sosovalue.com/assets/etf/us-btc-spot">according </a>to SoSo Value.&nbsp;
BlackRock's iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) emerged as the most successful fund, holding assets worth over $52 billion.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42696957/all-vitalik-buterin-wanted-for-xmas-was-a-hippopotamus-ethereum-co-founder-is-now-the-adoptive-father-of-viral-sensation-moo-deng">All Vitalik Buterin Wanted For Xmas Was A Hippopotamus — Ethereum Co-Founder Is Now The Adoptive Father Of Viral Sensation Moo Deng</a>
Monetary Policy Easing: The Federal Reserve delighted <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">risk-on markets by enacting a 0.5% interest rate cut</a> in September, the first in over four years. The bold reduction was followed by a more modest 25-basis-point cut in the successive months.
A drop in interest rates typically increases liquidity and borrowing power, leading to higher bets for stocks and cryptocurrencies, which are perceived to be risky investments.
Bitcoin's Halving Event: The quadrennial <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">event took place in April</a>, further squeezing the supply of an asset with deflationary characteristics.
The event slashed the mining reward after each successful block validation from 6.25 BTC to 3.125 BTC.&nbsp;
Previous instances of halving were followed by significant gains in Bitcoin. Since it's a known cyclical event, some experts argue that the halving is already priced in and there is no real expectation of Bitcoin reacting in a certain way after the event.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42697066/vivek-ramaswamys-strive-applies-for-bitcoin-bond-etf-that-will-track-microstrategys-convertible-securities-market">Vivek Ramaswamy&#8217;s Strive Applies For &#8216;Bitcoin Bond&#8217; ETF That Tracks MicroStrategy&#8217;s Convertible Securities Market</a></li>
</ul>

$SOL

IBIT

From Trump's Win To Debut Of Spot ETFs: These Were The Biggest Bullish Catalysts For Bitcoin In 2024

The past week has seen significant developments in the tech industry, with AI at the forefront. OpenAI announced its transition to a for-profit entity, President-elect Trump appointed a new senior AI advisor, and Google faced intense scrutiny following the release of ChatGPT. Here&#8217;s a quick recap of the top stories.
OpenAI&#8217;s For-Profit Transition
Microsoft Corp.-backed&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI has revealed its plans to evolve into a Delaware Public Benefit Corporation (PBC). The company aims to balance shareholder and stakeholder interests while maintaining its public benefit mission. The transition is part of OpenAI&#8217;s mission to advance artificial general intelligence (AGI) for the benefit of all humanity.
<a href="https://www.benzinga.com/24/12/42712683/openai-lays-out-its-for-profit-transition-plans-says-it-must-evolve-to-advance-its-agi-mission">Read the full article here.</a>
Trump&#8217;s New AI Advisor
President-elect Donald Trump has appointed Sriram Krishnan, a former general partner at Andreessen Horowitz, as senior policy advisor for AI. Krishnan will work closely with David Sacks, recently named Trump&#8217;s "AI and crypto czar." The move is part of Trump&#8217;s efforts to ensure America&#8217;s technological dominance and foster scientific breakthroughs.
<a href="https://www.benzinga.com/24/12/42639812/trump-taps-sriram-krishnan-as-senior-ai-advisor-to-work-closely-with-ai-and-crypto-czar-david-sacks">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42664762/after-investing-nearly-14-billion-in-openai-microsoft-reportedly-moves-to-reduce-its-dependence-on-chatgpt-parent?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Invested Nearly $14 Billion In OpenAI But Now It&#8217;s Reducing Its Dependence On The ChatGPT-Parent</a>
Google&#8217;s &#8216;Code Red&#8217;
Following the release of OpenAI&#8217;s ChatGPT,&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google declared a &#8220;Code Red&#8221;. The tech giant faced criticism for lagging behind rivals like Microsoft in integrating ChatGPT-like capabilities into its products. However, Alphabet&#8217;s latest advancements in AI and quantum computing are rebuilding its reputation and investor confidence.
<a href="https://www.benzinga.com/24/12/42641018/google-faced-intense-scrutiny-post-chatgpt-leading-up-to-declaring-code-red-but-gemini-20-and-quantum-chip-gives-investors-renewed-confidence">Read the full article here.</a>
Palantir: The &#8216;Next Oracle&#8217;
According to Wedbush Securities analyst Dan Ives,&nbsp;Palantir Technologies Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) could emerge as "the next Oracle" in the AI revolution. Despite its stock surging 395.42% in 2024, Ives maintains a strong conviction in the company's growth trajectory.
<a href="https://www.benzinga.com/markets/equities/24/12/42696805/palantir-touted-as-next-oracle-by-dan-ives-here-is-why-the-wedbush-analyst-called-the-company-a-table-pounder">Read the full article here.</a>
Microsoft&#8217;s Reduced Dependence on OpenAI
Microsoft is reportedly planning to reduce its dependence on OpenAI, the maker of ChatGPT. The company is working on integrating internal and third-party AI models into its AI product, Microsoft 365 Copilot.
<a href="https://www.benzinga.com/24/12/42664762/after-investing-nearly-14-billion-in-openai-microsoft-reportedly-moves-to-reduce-its-dependence-on-chatgpt-parent">Read the full article here.</a>
Peter Thiel&#8217;s Bet on AI
Former PayPal CEO Peter Thiel has shared his perspective on the evolving role of AI and its potential impact on math skills. Thiel suggested that the rise of AI could reduce the emphasis on math proficiency and lead to a societal transformation.
<a href="https://www.benzinga.com/24/12/42680592/peter-thiel-once-said-he-would-bet-on-the-reversal-of-silicon-valleys-math-bias-as-ai-continues-to-rise-isnt-that-a-long-overdue-rebalancing-of-our-society">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42681555/nio-announces-repurchase-opportunity-for-convertible-senior-notes-due-2027-firefly-app-gains-traction-in-china?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NIO Announces Repurchase Opportunity For Convertible Senior Notes Due 2027</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>

Tech

GOOG

GOOGL

MSFT

PLTR

OpenAI's For-Profit Transition, Trump's AI Advisor, And Google's Code Red: This Week In AI

The holiday week was abuzz with news from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). The tech giant continues to make headlines with its innovative products and bullish market predictions. From the anticipated AI-driven iPhone upgrade cycle to the rumored features of the AirTag 2, AirPods, and the M4 MacBook Air, Apple&#8217;s tech advancements continue to impress. Let&#8217;s dive into the top stories from the weekend.
Tech Bull Foresees 26% Upside for Apple Stock
Wedbush analyst Dan Ives is optimistic about Apple&#8217;s future, predicting a 26% upside for the company&#8217;s stock. Ives attributes this potential growth to a &#8220;multi-year&#8221; upgrade cycle for the iPhone, driven by artificial intelligence (AI). He believes this will usher in a &#8220;golden era of growth for Cupertino&#8221; into 2025.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42682230/tech-bull-predicts-26-upside-for-apple-stock-sees-golden-era-of-growth-for-cupertino-due-to-multi-year-ai-driven-iphone-upgrade-cycle">Read the full article here.</a>
Apple&#8217;s AirTag 2: Enhanced Tracking and Safety
Apple is reportedly gearing up to launch the AirTag 2, with significant upgrades in range and safety. The new item tracker is expected to feature an Ultra Wideband chip for a longer range.
<a href="https://www.benzinga.com/24/12/42677323/apples-airtag-2-roundup-ultra-wideband-boost-safety-improvements-and-more-rumored-features">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42677504/amid-donald-trumps-concerns-about-taiwans-rising-chip-business-jensen-huang-praises-tsmc-for-its-unquestionable-innovation-vows-nvidias-support-for-the-incoming-us-administration?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Donald Trump&#8217;s Concerns About Taiwan&#8217;s Rising Chip Business, Jensen Huang Praises TSMC</a>
Apple AirPods to Incorporate Health Sensors and Cameras
According to Bloomberg columnist Mark Gurman, Apple is planning to introduce heart rate monitors, temperature sensors, and cameras to its AirPods to enhance AI capabilities. The company is reportedly experimenting with these new improvements.
<a href="https://www.benzinga.com/media/24/12/42640232/apple-airpods-to-get-heart-rate-temperature-sensors-and-cameras-to-help-with-ai-features-top-analyst">Read the full article here.</a>
M4 MacBook Air Release Could Be Ahead of Schedule
Apple&#8217;s highly anticipated M4 MacBook Air could arrive sooner than expected, according to Bloomberg columnist Mark Gurman. While new iPads and the iPhone SE are slated for a spring release, the M4 MacBook Air might hit the market earlier.
<a href="https://www.benzinga.com/24/12/42665141/top-apple-analyst-says-new-m4-macbook-air-could-be-available-sooner-than-expected">Read the full article here.</a>
iPhone 17 Pro Likely to Retain Triangular Camera Layout
Despite rumors of a radical horizontal layout, Apple&#8217;s upcoming iPhone 17 Pro is expected to stick with its distinctive &#8220;triangular&#8221; camera design. This information was revealed by the leaker "Instant Digital" on Weibo last week.
<a href="https://www.benzinga.com/24/12/42666163/iphone-17-pro-could-retain-iconic-triangular-camera-design-despite-rumors-of-a-radical-horizontal-layout">Read the full article here.</a>
Steve Jobs&#8217; MacBook Vision Realized After 25 Years
Steve Jobs had a vision for what a MacBook should look like back in 1983. It took Apple 25 years to bring this vision to life, but the company&#8217;s stock is now soaring to record highs. Analysts at JPMorgan are optimistic about Cupertino&#8217;s prospects, giving the Apple stock an overweight rating and a price target of $265.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42699730/steve-jobs-knew-what-macbook-should-be-like-in-1983-it-took-apple-25-years-to-bring-his-vision-to-life-with-aapl-stock-at-record-highs-heres-what-analysts-say">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42680592/peter-thiel-once-said-he-would-bet-on-the-reversal-of-silicon-valleys-math-bias-as-ai-continues-to-rise-isnt-that-a-long-overdue-rebalancing-of-our-society?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Thiel Once Said He Would Bet On The Reversal Of Silicon Valley&#8217;s Math Bias As AI Continues To Rise</a></li>
</ul>
Photo courtesy: Apple
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>

AAPL

Apple's AI-Driven Growth, AirTag 2, AirPods' Health Features, And iPhone 17 Pro: This Week In Appleverse

As we wrap up the week, a series of intriguing developments have unfolded in the electric vehicle industry. From Hertz Global Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) selling used EVs at substantial discounts to Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) donating a fleet of vehicles for Trump&#8217;s inauguration, the news cycle has been anything but dull. Let&#8217;s dive into the top stories.
Hertz Trims Fleet with Discounted EVs
In a bid to reduce its fleet, car rental company Hertz has been selling used electric vehicles for as low as nearly $12,000. The discounted EVs include models from Chevrolet, Tesla, and Subaru. For example, a 2023 Chevrolet Bolt EV in Denver is listed for sale on Hertz&#8217;s website for $11,985, while a 2022 Tesla Model 3 base sedan in Oklahoma is priced at $17,921.
<a href="https://www.benzinga.com/24/12/42666220/hertz-sells-used-evs-including-chevrolet-bolt-tesla-model-3-for-whopping-discounts-in-bid-to-reduce-evs-in-fleet">Read the full article here.</a>
Ford Donates to Trump&#8217;s Inauguration
Automaker Ford has donated $1 million and a fleet of vehicles to Donald Trump&#8217;s inauguration fund. This donation matches totals from Amazon.com Inc. and Meta Platforms Inc., as well as a recent $1 million pledge from OpenAI CEO Sam Altman.
<a href="https://www.benzinga.com/24/12/42660866/trump-gets-ford-vehicles-1m-for-inauguration-will-musk-respond-or-could-he-ride-in-rival-vehicle">Read the full article here.</a>
Fund Manager Questions Musk&#8217;s Robotaxi Fleet Ambitions 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk envisions a future where Tesla car owners can rent their vehicles to the company&#8217;s robotaxi fleet, likened to a combination of Airbnb and Uber. However, Future Fund Managing Partner Gary Black doubts that a majority of Tesla owners would want to participate in this scheme.
<a href="https://www.benzinga.com/24/12/42642606/elon-musk-wants-to-raise-a-tesla-fleet-expert-estimates-vehicle-owners-can-make-40kyear-but-remains-doubtful">Read the full article here.</a>
Tesla&#8217;s Recall Costs
Tesla executive Sendil Palani expressed frustration over the cost of notifying customers about the company&#8217;s recent recall. Palani criticized the mandate of sending letters to affected owners as a waste of time and money.
<a href="https://www.benzinga.com/tech/24/12/42640472/tesla-exec-bemoans-cost-of-sending-letter-to-owners-affected-by-ev-giants-recent-recall-of-nearly-700000-vehicles">Read the full article here.</a>
Musk&#8217;s Bold Tesla Valuation
Elon Musk believes that Tesla could exceed the value of all transport companies, with the exception of his rocket manufacturing company SpaceX. However, he noted that achieving this would require a lot of work and good ideas.
<a href="https://www.benzinga.com/24/12/42667044/teslas-valuation-could-exceed-all-transport-companies-but-spacex-ceo-elon-musk">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42680075/tesla-exec-says-we-will-be-ready-to-efficiently-produce-autonomous-vehicles-as-shanghai-megafactory-nears-completion?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Exec Says &#8216;We Will Be Ready&#8217; To Efficiently Produce Autonomous Vehicles As Shanghai Megafactory Nears Completion</a></li>
</ul>
Image generated using AI tools
 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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

TSLA

Hertz's EV Sale, Ford Donates to Trump's Inauguration, Fund Manager Questions Musk's Robotaxi Fleet Ambitions And More: This Week In Mobility

As the week wraps up, we bring you a recap of the top stories that made headlines. From Senator Bernie Sanders&#8217; call to end Super PACs to Nikki Haley&#8217;s clash with DOGE Co-Head Vivek Ramaswamy, the week was filled with political drama. Elon Musk also found himself in the spotlight, with Ukraine receiving Starlink sets from Poland and Musk stating he can no longer afford to give them away for free.
Bernie Sanders Calls Out Elon Musk and Super PACs
Senator Bernie Sanders voiced his concerns about billionaires, including Elon Musk, influencing elections and called for an immediate ban on Super PACs by the Democratic National Committee. Sanders expressed his disdain for billionaires buying elections and demanded that the DNC ban Super PACs in Democratic primaries.
<a href="https://www.benzinga.com/24/12/42676387/bernie-sanders-the-american-people-are-disgusted-with-musk-calls-on-democrats-to-end-super-pacs-in-primaries">Read the full article here.</a>
Nikki Haley and DOGE Co-Head Vivek Ramaswamy Clash Over American Culture
Former U.N. Ambassador and 2024 presidential candidate Nikki Haley responded to Department of Government Efficiency Co-head Vivek Ramaswamy&#8217;s comments about American culture. Ramaswamy, who is set to lead DOGE alongside Elon Musk under President-elect Donald Trump, had suggested that cultural factors contribute to top tech companies often hiring foreign-born engineers over U.S.-born engineers.
<a href="https://www.benzinga.com/24/12/42696536/nikki-haley-blasts-doge-co-head-vivek-ramaswamy-for-his-take-on-american-culture-all-you-have-to-do-is-look-at-the-border-and-see-how-many-want-what-we-have">Read the full article here.</a>
Ukraine Receives Starlinks, Musk Says He Can&#8217;t Afford to Give Them Away for Free
Ukraine received 150 sets of SpaceX&#8217;s Starlink from Poland, just hours before Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk stated that the U.S. should pay for the high-speed internet services as he can no longer afford to give them to Ukraine for free.
<a href="https://www.benzinga.com/tech/24/10/42708683/ukraine-gets-150-starlinks-from-poland-while-elon-musk-says-he-can-no-longer-afford-to-give-the-kits-away-for-free">Read the full article here.</a>
Ford Donates to Trump&#8217;s Inauguration, Sparks Speculation
Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) made a substantial donation to Donald Trump&#8217;s inauguration fund, matching totals from Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). This move comes as Ford&#8217;s rival Tesla and its CEO Elon Musk are likely set to benefit from the new White House administration.
<a href="https://www.benzinga.com/24/12/42660866/trump-gets-ford-vehicles-1m-for-inauguration-will-musk-respond-or-could-he-ride-in-rival-vehicle">Read the full article here.</a>
Trump Reconsiders TikTok Ban
President-elect Donald Trump has had a change of heart about banning TikTok from the United States. Despite a pending ban that could take place on Jan 19, the day before he is inaugurated as president once again, Trump shared that he supports TikTok remaining operational in the U.S.
<a href="https://www.benzinga.com/24/12/42654769/tiktok-ban-under-trump-president-elect-wants-to-keep-months-after-pelosi-said-follow-the-money">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42690082/trump-is-first-republican-president-with-a-pathway-to-cannabis-reform-says-former-adviser?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Is First &#8216;Republican President&#8217; With A Pathway To Cannabis Reform, Says Former Adviser</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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Politics

AMZN

Sanders Targets Musk, Haley Clashes With DOGE Co-Head, And Trump Reconsiders Tiktok Ban: This Week In Politics

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S. Korea's MBC News Reports 47 Dead In Crash Of Boeing 737-800 At Muan Airport With 181 On Board

In the midst of the ongoing infighting within the Republican Party&#8217;s MAGA base, tech mogul Elon Musk has called for the expulsion of &#8220;contemptible fools&#8221; from the party.
What Happened: Elon Musk and Vivek Ramaswamy, named by President-elect Donald Trump as co-leaders of the newly created Department of Government Efficiency (DOGE), have found themselves at odds with the GOP&#8217;s hard right and MAGA base. The disagreement stems from their support of H-1B visas, which are used to bring high-skilled migrant workers to the U.S.
Ramaswamy previously stirred up controversy by stating&nbsp;that the U.S. needs to&nbsp;import high-skilled workers, a standpoint that was met with backlash from several MAGA influencers. 
Musk responded to the criticism on X, saying, &#8220;Yes. And those contemptible fools&nbsp;must be removed from the&nbsp;Republican Party, root and stem.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/12/42496864/exclusive-eric-trump-calls-elon-musk-albert-einstein-of-our-time-says-tesla-ceo-will-help-build-a-stronger-america">EXCLUSIVE: Eric Trump Calls Elon Musk &#8216;Albert Einstein Of Our Time,&#8217; Says Tesla CEO Will Help Build &#8216;A Stronger America&#8217;</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes. And those contemptible fools must be removed from the Republican Party, root and stem.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1872744295884841262?ref_src=twsrc%5Etfw">December 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Responding to Musk&#8217;s post, Gab CEO&nbsp;Andrew Torba said that Musk is declaring war on them. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">He's declaring war on us btw. Should go over well for him as it has for everyone else who has tried. <a href="https://t.co/zGnFIDyFRT">pic.twitter.com/zGnFIDyFRT</a>
&mdash; Andrew Torba (@BasedTorba) <a href="https://twitter.com/BasedTorba/status/1872753653553217726?ref_src=twsrc%5Etfw">December 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The infighting within the MAGA base has reportedly escalated into a virtual right-wing civil war over issues such as race, class, and immigration. Musk&#8217;s position has increasingly put him at odds with Trump&#8217;s base, with figures like Steve Bannon and Laura Loomer expressing their disapproval, as reported <a href="https://www.axios.com/2024/12/27/elon-musk-contemptible-fools-maga-doge">by</a> Axios.
The report also suggests that this divide may force Trump to choose sides between his original white, working-class supporters&nbsp;and the techno-libertarian billionaires like&nbsp;Musk who are central to his new administration.
Why It Matters: The ongoing infighting within the MAGA base and the Republican Party at large could have significant implications for the future of the party and its political strategies. 
The schism between the traditional white, working-class supporters&nbsp;and the techno-libertarian billionaires like&nbsp;Musk could force a reevaluation of the party&#8217;s stance on key issues such as immigration and labor. 
This could, in turn, influence the party&#8217;s appeal to different voter demographics and its prospects in future elections.
Read Next 
<a href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future" target="_blank" rel="noreferrer noopener">Here's How Trump's Policies Might Shape The Market's Future</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Elon Musk Weighs In On MAGA Divide, Urges GOP To Purge 'Contemptible Fools'

Leading CEOs from the tech industry are reportedly courting favor with President-elect Donald Trump, indicating a significant change in corporate America&#8217;s approach towards his upcoming term.
What Happened: High-profile business leaders have been visiting Trump at his Florida residence, Mar-a-Lago, marking a stark contrast to the reception he received following his 2016 election victory. 
Among the attendees were&nbsp;Amazon&#8217;s Jeff Bezos,&nbsp;Apple&#8217;s Tim Cook,&nbsp;Google&#8217;s Sundar Pichai, and&nbsp;TikTok&#8217;s&nbsp;CEO Shou Zi Chew.&nbsp;Meta&#8217;s&nbsp;Mark Zuckerberg had a meeting with Trump last month.
Trump, who secured his election victory&nbsp;with 49.8 percent of the&nbsp;vote, shared his enthusiasm on Truth Social, <a href="https://truthsocial.com/@realDonaldTrump/posts/113679845810455086">saying </a>that &#8220;EVERYBODY WANTS TO BE MY FRIEND!!!&#8221; 
He also observed a marked shift in attitude compared to his first term, noting that there seems to be a greater willingness to cooperate this time around.
Former&nbsp;Microsoft&nbsp;CEO Bill Gates is also said to have requested a visit. 
Also Read: <a href="https://www.benzinga.com/news/24/12/42635450/why-trump-wants-debt-ceiling-killed-before-he-takes-office">Why Trump Wants Debt Ceiling Killed Before He Takes Office</a>
In a&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/113725094327948716" target="_blank" rel="noreferrer noopener">post</a>&nbsp;on Truth Social on Friday, Trump said that Gates had asked to come to Mar-a-Lago. The 78-year-old Republican encouraged him to visit.
"Where are you? When are you coming to the ‘Center of the Universe,' Mar-a-Lago. Bill Gates asked to come, tonight. We miss you and x! New Year's Eve is going to be AMAZING!!!" Trump wrote. He signed it "DJT."
Why It Matters: This change in corporate America&#8217;s stance towards Trump could be motivated by a desire for influence or a fear of potential backlash. 
Major corporations&nbsp;such as Amazon, Meta, OpenAI, and Perplexity have pledged to donate $1 million each to Trump&#8217;s inaugural fund. 
This shift underlines the importance of political engagement for these tech giants, who are likely seeking to ensure their interests are represented in the upcoming administration.
Read Next
<a href="https://www.benzinga.com/news/24/12/42257531/heres-how-ray-dalio-thinks-trumps-second-term-could-reshape-the-us-and-the-world" target="_blank" rel="noreferrer noopener">Here's How Ray Dalio Thinks Trump's Second Term Could Reshape the US and the World</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech Titans Warm Up To Donald Trump, Who Says 'Everybody Wants To Be My Friend,' Claims Bill Gates Asked To Come To Mar-a-Lago

An Azerbaijan Airlines flight which crashed on Christmas Day in Kazakhstan was reportedly hit by &#8220;external interference&#8221; over Russia, <a href="https://www.benzinga.com/news/global/24/12/42711444/national-security-councils-kirby-notes-early-indications-of-russian-link-in-azerbaijan-crash" target="_blank" rel="noreferrer noopener">according to Azerbaijan&#8217;s transport minister, </a><a href="https://www.benzinga.com/news/global/24/12/42711444/national-security-councils-kirby-notes-early-indications-of-russian-link-in-azerbaijan-crash" target="_blank" rel="noreferrer noopener">Rashad Nabiyev</a><a href="https://www.benzinga.com/news/global/24/12/42711444/national-security-councils-kirby-notes-early-indications-of-russian-link-in-azerbaijan-crash" target="_blank" rel="noreferrer noopener">.</a>
The crash, which claimed 38 lives, occurred after the plane, a Brazilian-made Embraer 190, was diverted to Kazakhstan from Russia&#8217;s Chechnya region due to damage sustained during flight, <a target="_blank" href="https://www.bbc.com/news/articles/cy4717j21kko" rel="noreferrer noopener">reports</a> BBC.
Passengers onboard reported hearing three blasts above Grozny, leading to speculation that the aircraft had been struck by Russian air defense systems.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/global/24/12/42686735/azerbaijan-airliner-crash-kills-38-weather-russia-under-scrutiny" rel="noreferrer noopener">Azerbaijan Airliner Crash Kills 38: Weather, Russia Under Scrutiny</a>
Russian authorities have yet to comment, though Dmitry Yadrov, head of Russia&#8217;s civil aviation agency, claimed that the region was under threat from Ukrainian drone attacks, and a &#8220;Carpet plan&#8221; was enacted, clearing aircraft from the area.
He also mentioned dense fog over Grozny airport, which could have contributed to the incident.
The U.S. government has confirmed receiving early indications that Russian air defense systems may have downed the plane, although they have refrained from making a definitive statement.
Azerbaijan Airlines has pointed to &#8220;physical and technical external interference,&#8221; which experts believe involved GPS jamming and missile shrapnel damage, BBC adds.
One flight attendant described hearing a &#8220;strike,&#8221; which injured her arm. Pilot Tahir Agaguliev speculated that the missile exploded nearby, with shrapnel damaging the aircraft&#8217;s hydraulics.
Despite the damage, the pilots managed to land the plane, saving 29 lives.
Azerbaijan is demanding Russia acknowledge its responsibility for the incident, similar to the apology Russia extended in 2020 when it shot down an Azerbaijani helicopter.
Meanwhile, Azerbaijan Airlines suspended flights to several Russian cities, including Grozny and Sochi, citing security concerns. The investigation is ongoing, with Azerbaijan pushing for an international inquiry rather than one led by Russia or Kazakhstan.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42677932/russian-firms-adopt-bitcoin-for-global-trade-in-response-to-western-sanctions-should-be-expanded-and-developed-further" target="_blank" rel="noreferrer noopener">Russian Firms Adopt Bitcoin For Global Trade In Response To Western Sanctions: &#8216;Should Be Expanded And Developed Further&#8217;</a></li>
</ul>

Azerbaijan Airlines Flight Hit by 'External Interference' Over Russia Before Fatal Crash

In an interview with Fortune in 2013, legendary investor Warren Buffett shared his insights on avoiding speculative investing and adopting a disciplined, long-term approach. 
What Happened: Buffett, known for his value investing philosophy, highlighted the importance of understanding the productive potential of assets rather than making impulsive decisions based on market noise.
During the <a href="https://www.youtube.com/watch?v=yzuTj_t7ILs&amp;t=2s">interview</a>, Buffett compared evaluating stocks to assessing tangible investments like farms or apartment buildings. For a farm, he advises calculating expected crop yields and determining their value. 
Similarly, for an apartment building, rental income should be weighed against taxes and expenses to estimate the expected return. In both cases, the focus should be on paying a fair price for the asset's productive potential.
&#8220;You always want to look at the productive ability of the assets you're buying, whether it's a farm, an apartment house, or a company. The company is represented by a stock. If you always get your money's worth, you'll do very well,&#8221; Buffett said. 
Also Read: <a href="https://www.benzinga.com/news/24/12/42663704/warren-buffetts-timeless-advice-if-youre-gonna-do-dumb-things-because-your-stock-goes-down-you-shoul">Warren Buffett&#8217;s Timeless Advice: &#8216;If You&#8217;re Gonna Do Dumb Things Because Your Stock Goes Down, You Shouldn&#8217;t Own A Stock At All&#8217;</a>
&#8220;If you buy a farm, you look at the farm and say, "I expect to get so many bushels per acre of corn or soybeans." Then you figure out how much that will be worth and you figure out what the price should be. If you buy an apartment house, you should look at what the rentals will be, what the taxes and expenses will be, and then decide how much income you'll have. You pay a fair price for that,&#8221; Buffett added. 
However, when it comes to stocks, Buffett warned against buying based on hearsay or speculative advice. He encouraged investors to prioritize the long-term productive ability of assets over short-term price movements. 
"The biggest mistake people make is listening to a lot of other people and buying something because they think it's going to go up next week or next month, for whatever reason people give you. You should understand what you buy," he said. 
He emphasized that understanding the intrinsic value of a company, which a stock represents, is key to successful investing.
&#8220;With stocks, their neighbor whispers something to them and then run out and spend money that it took them years to earn,&#8221; Buffett said. 
Why It Matters: This advice aligns with Buffett's broader philosophy of value investing, which has guided his decades-long track record of outperforming the market. 
His focus on fundamentals serves as a reminder that patience and careful evaluation remain the cornerstones of sound investing.
Read Next
<a href="https://www.benzinga.com/news/24/08/40666605/warren-buffetts-career-advice-dont-think-about-money-take-the-job-that-you-would-take-if-you-didnt-n">Warren Buffett&#8217;s Career Advice: &#8216;Don&#8217;t Think About Money, Take The Job That You Would Take If You Didn&#8217;t Need The Job&#8217;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Warren Buffett's Stock Market Advice: Ignore Neighbor's Whispers On Stock Tips, Focus On Long-Term Value

Anthony Scaramucci, the former White House communications director, has urged&nbsp;Elon Musk&nbsp;to focus on his thriving businesses and refrain from political involvement. 
What Happened: Scaramucci, who had a brief stint in the first Donald Trump administration and has since become a vocal critic of the President-elect, praised Musk&#8217;s business prowess.
Speaking with CNN in an interview last week, he said of Musk, &#8220;Stick to business. You've done great. You've made a couple hundred billion dollars since the election.&#8221;
He further warned Musk about the potential pitfalls of political involvement, saying, &#8220;Lay&nbsp;off the gas on politics&nbsp;a little bit because these&nbsp;people, these people could hurt&nbsp;you.&#8221;
While acknowledging Musk&#8217;s significant influence during the 2024 election, Scaramucci expressed doubts about Musk&#8217;s ability to exert the same level of influence in Washington. 
Despite Musk&#8217;s large following and significant influence, Scaramucci advised him to tread carefully. 
Also Read: <a href="https://www.benzinga.com/news/24/12/42378550/musk-kicked-in-more-than-a-quarter-billion-dollars-to-trump-and-gop">Musk Kicked In More Than a Quarter-Billion Dollars To Trump and GOP</a>
He stated, &#8220;He's&nbsp;just got to be very,&nbsp;very careful because he's making&nbsp;enemies that he doesn‘t realize,&#8221; and added, &#8220;And&nbsp;the incentives in Washington are&nbsp;totally different than those in&nbsp;business.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Can he do the fandango like in that Queen song?
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1871485780037972349?ref_src=twsrc%5Etfw">December 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Responding to Scaramucci&#8217;s advice, Musk asked whether Scaramucci could &#8220;do the fandango like in that Queen song,&#8221; a reference to the line &#8220;Scaramouche, Scaramouche, will you do the Fandango&#8221; in the song &#8220;Bohemian Rhapsody.&#8221;</figcaption></figure>
Why It Matters: Scaramucci&#8217;s advice to Musk comes at a time when the latter&#8217;s influence has been growing, not just in the business world but also in the political sphere. 
Musk&#8217;s significant role in the 2024 election and his large following are testament to his influence. However, Scaramucci&#8217;s cautionary words highlight the potential dangers that come with political involvement, especially for someone who is primarily a business figure. 
The different incentives and dynamics in Washington, as compared to the business world, could pose challenges and risks for Musk.
Read Next
<a href="https://www.benzinga.com/news/24/09/41082363/heres-how-elon-musk-has-become-a-pro-trump-political-influencer-through-social-media">Here&#8217;s How Elon Musk Has Become A Pro-Trump Political Influencer Through Social Media</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Anthony Scaramucci Tells Musk To 'Stick To Business' — Here's Musk's Musical Response

President-elect Donald Trump&#8217;s repeated calls to defund public media have put organizations like <a href="https://www.benzinga.com/recent" target="_blank" rel="noreferrer noopener">NPR and PBS on high alert</a>.
Trump has long criticized outlets like NPR and PBS, accusing them of promoting liberal bias, and has vowed to cut all federal funding for the Corporation for Public Broadcasting (CPB), which supports public media, The Guardian <a target="_blank" href="https://www.theguardian.com/us-news/2024/dec/28/trump-npr-pbs-funding-cut" rel="noreferrer noopener">reports</a>.
In April on Truth Social, Trump called NPR a &#8220;total scam&#8221; and demanded an end to its funding.
His criticism follows a longstanding pattern of Republican efforts to reduce or eliminate public media funding, dating back to the 1967 creation of the CPB.
The CPB provides grants to over 1,500 public radio and TV stations across the country, helping ensure editorial independence while also allowing for local fundraising.
Also Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42713893/benzinga-bulls-and-bears-quantum-computing-tesla-amd-and-whales-buy-270-million-dogecoin-over-4-days">Benzinga Bulls And Bears: Quantum Computing, Tesla, AMD — And Whales Buy 270 Million Dogecoin Over 4 Days</a>
Trump&#8217;s allies, including Elon Musk, have joined the chorus. Musk, after labeling NPR as &#8220;state-affiliated media&#8221; in 2023, has called for the defunding of NPR, echoing Trump&#8217;s anti-public media stance, the report adds.
His recent collaboration with Vivek Ramaswamy to reduce government spending includes proposed cuts to the CPB&#8217;s $535 million budget.
Despite these efforts, public media remains deeply embedded in American life, with 99% of the population within reach of public radio or TV, The Guardian adds.
Yet the U.S. spends far less on public media compared to other countries. Critics argue that defunding public media would harm rural communities, where stations are often crucial for local news and emergency alerts.
While bills to defund NPR and PBS are currently before Congress, the challenge of transferring emergency alert responsibilities and the two-year funding cycle for the CPB could slow these efforts.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42707484/exxonmobil-stock-navigates-death-cross-market-signals-turn-bearish-for-the-oil-giant" target="_blank" rel="noreferrer noopener">ExxonMobil Stock Navigates Death Cross: Market Signals Turn Bearish For Oil Giant</a></li>
</ul>

Trump's Threat to Defund Public Media Puts NPR and PBS on Edge

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