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Shares of Trump Media dropped 15% in extended trading following Former President Donald Trump's guilty verdict in New York. Trump owns 65% of shares in Trump Media, the company that owns the Truth Social app. Trump Media merged with shell company Digital World Acquisition Corp in March, sending its stock surging initially. The company has a market cap of around $9 billion, based largely on Trump's personal brand and following. In its first quarter, Trump Media reported a net loss of more than $320 million on less than $1 million in revenue.
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Nitroze
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Lark Davis
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A meteoric rise for AI startup valuations and a smattering of IPOs, old and new, signal the beginning of a changing of the guard atop the Midas List, Forbes’ ranking of the world’s top venture capitalists.<br/><br/>Produced in partnership with TrueBridge Capital Partners, the 23rd annual Midas List sees the return of investor Alfred Lin to its top spot. The Sequoia partner retakes No. 1 after two years with a portfolio bookended by a 2020 IPO in its last year of eligibility — Airbnb — and one of 2024’s few newer offerings — Reddit. Lin also gets a boost from ChatGPT maker OpenAI, where he played a role in returning CEO Sam Altman to power after a brief coup attempt in 2023.<br/><br/>The AI unicorn, recently valued at $86 billion, helps 7 investors onto Midas overall. They include early backer Vinod Khosla of Khosla Ventures, who moves up a whopping 76 slots to No. 9 on this year’s list. (And that doesn’t count fellow billionaires No. 8 Reid Hoffman, who invested in OpenAI through his foundation, or No. 36 Marc Andreessen, whose firm has also purchased shares.)<br/><br/>You’ll find other AI standouts, such as Anthropic and Cohere, sprinkled throughout. But it’s the soaring valuation of Elon Musk’s space business, SpaceX, that helps DFJ Growth investor Randy Glein return the list at No. 14 after a decade away, one of 8 investors to reappear on Midas after dropping off. They’re joined by six newcomers, including No. 91 Trae Stephens, who cofounded and then backed defense tech unicorn Anduril for Founders Fund, and No. 98 Wesley Chan of FPV Ventures, an early Canva investor.<br/><br/>The 2024 Midas List features 13 women investors, matching 2021’s record number. They include No. 99 Annabelle Yu Long, a China-based newcomer at BAI Capital, and No. 86 Annie Lamont, Connecticut’s First Lady and cofounder of Oak HC/FT, appearing for the fifth time, but her first in nine years.<br/><br/>A data-driven ranking, the Midas List is produced annually from a combination of public data sources and the submissions of hundreds of investment partners across dozens of firms. To qualify, investors are ranked by portfolio companies that have gone public or been acquired for at least $200 million in the past five years, or that have at least doubled their private valuation to $400 million or more over the same period. Forbes and TrueBridge allow firms to share credit for a deal between up to two investors, and put a premium on liquid exits over unrealized returns. Early stage investors who deliver large multiples on money invested, and later-stage investors who return large sums of cash, can both make the list. Top Midas investors typically achieve both, across a dozen or more eligible investments.<br/><br/>0:00 Introduction<br/>0:48 What Is The Major Shift Of The Forbes Midas 2024 List?<br/>3:11 What Top AI Innovators Are On This Year's List?<br/>6:49 Women In Tech: Are There More Women Present On The Midas 2024 List<br/>9:20 What Surprises Were Discovered When Building The Midas 2024 List<br/><br/>Read the full story on Forbes: https://ww
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Free BROADCAST
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Sweetie Adorable Baby
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Advocates Warn Extreme Heat , Could Drive Home Cooling , Costs to Decade High.<br/>NBC reports that the average cost of keeping a home <br/>in the United States cool from June to September is <br/>set to hit $719 in 2024, according to new projections.<br/>Advocates for low-income households found <br/>that those annual costs for cooling a home in <br/>the summer are about 8% higher than in 2023.<br/>Back in 2021, the average cost <br/>to cool a home was down at <br/>an average of $573 annually.<br/>According to organizations that distribute federal financial <br/>support, an estimated one million fewer families <br/>will be able to receive assistance paying their energy bills. .<br/>This loss of assistance comes partly as the result of government <br/>funding for the Low Income Home Energy Assistance Program <br/>(LIHEAP) dropping to $4.1 billion, down from $6.1 billion in 2023.<br/>It’s inflation in the sense that you <br/>have to spend more to cool your <br/>house, but you’re using more of it, Mark Wolfe, Executive director of the National Energy <br/>Assistance Directors Association (NEADA), via NBC.<br/>So you can’t blame <br/>the price. This is more <br/>the price of climate change, Mark Wolfe, Executive director of the National Energy <br/>Assistance Directors Association (NEADA), via NBC.<br/>The National Oceanic and Atmospheric Administration <br/>has warned that 2024 is expected to rank among <br/>the top five hottest years on record. .<br/>According to the National Energy Assistance Directors <br/>Association (NEADA) report, many households face the <br/>risk of debt or potential utility shut-offs for nonpayment.<br/>These estimates could, in fact, <br/>understate the final costs of home <br/>cooling this summer if temperatures <br/>continue to reach record levels, National Energy Assistance Directors <br/>Association (NEADA) report, via NBC
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hirumaredx
⏲ 25 minutes 38 seconds 👁 31.2K
D Billions
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<br/>McKesson now claims top spot in North Texas after Exxon's move to Houston area<br/><br/>DALLAS — Read this story and more North Texas business news from our partners at the Dallas Business Journal<br/><br/>Dallas-Fort Worth has 21 companies on the latest Fortune 500, published June 4. That was down slightly from last year, when the list featured 24 companies from the region, and there were several notable changes to the ranking.<br/>The highest-ranked DFW company on the list is now No. 9 McKesson Corp. (NYSE: MCK), based on 2023 revenue of $276.7 billion, after No. 7 Exxon Mobil Corp. (NYSE: XOM) last summer completed its move to the Houston area from North Texas. McKesson, a pharmaceutical distribution and health care services and supplies company, moved to North Texas from California in 2019.<br/><br/>The change might elicit a shrug from readers, since the Exxon move has been widely covered. But it speaks to the hole left by the relocation. Exxon is a Fortune 500 stalwart: it's one of only 49 companies that have made the list every year since its debut in 1955.<br/><br/>The biggest gainers on the list for North Texas were Fluor (NYSE: FLR), which jumped 38 spots from the prior year's ranking to No. 265, and Yum China Holdings Inc. (NYSE: YUMC), which climbed 37 spots to No. 368. Irving-based Fluor is a major engineering and construction company while Plano-based Yum China owns and operates fast food chains including KFC and Pizza Hut in the world's second most populous country.<br/><br/>The biggest DFW dropper on the Fortune 500 was No. 240 Builders FirstSource (NYSE: BLDR), which slipped 68 spots from a year earlier. The Irving-based company reported a nearly 25% drop in revenue last year. CEO Dave Rush described \
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MarcelianOnline
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Sketch
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