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TOPGOLF CALLAWAY BRANDS CORP

Topgolf Callaway Brands

Topgolf Callaway Brands Corp is a modern golf and active lifestyle company that provides world-class golf entertainment experiences, designs and manufactures premium golf equipment, and sells golf and active lifestyle apparel and other accessories through brands such as, Topgolf, Callaway Golf, Odyssey, TravisMathew, Jack Wolfskin, OGIO and Toptracer. The company's reportable segments are; Topgolf, Golf Equipment and Active Lifestyle. Majority of the revenue is generated from its Topgolf segment which is predominantly comprised of service revenues and expenses from the company operated Topgolf venues, Toptracer ball-flight tracking technology, and WGT digital golf game. Geographically, majority of the revenue for the company is derived from United States.

Topgolf Callaway Brands Corp. Common Stock

Topgolf Callaway Brands Corp

R8 Capital Investments PLC

President Donald Trump has declared plans to send Patriot air defense missiles to Ukraine as a countermeasure against the ongoing Russian aggression in the region.
What Happened: Trump revealed his intention to supply Ukraine with Patriot missiles on Sunday, as reported by Reuters. This move is in response to Russian President Vladimir Putin&#8217;s ongoing resistance to ceasefire negotiations between Ukraine and Russia.
&#8220;Putin really surprised a lot of people. He talks nice and then bombs everybody in the evening. But there&#8217;s a little bit of a problem there. I don&#8217;t like it,&#8221; said Trump while addressing the matter of the mobile interceptor missile surface-to-air missile system, according to the report.
While the exact number of missiles to be sent remains undisclosed, Trump assured that the European Union would reimburse the United States for the costs. 
Ukrainian President&nbsp;Volodymyr Zelenskiy&nbsp;has been seeking additional defensive capabilities to counter daily&nbsp;missile and drone attacks from&nbsp;Russia. Trump confirmed the decision at Joint Base Andrews, stating, &#8220;We&nbsp;will send them Patriots, which&nbsp;they desperately need.&#8221;
See Also: <a href="https://benzinga.com/news/politics/25/07/46383818/jeffrey-epstein-in-tapes-released-by-michael-wolff-i-was-donalds-closest-friend" target="_blank" rel="noreferrer noopener">Jeffrey Epstein in Tapes Released by Michael Wolff: &#8216;I Was Donald&#8217;s Closest Friend&#8217;</a>
Trump said, &#8220;We basically are going to send them various pieces of very sophisticated military equipment. They are going to pay us 100% for that, and that&#8217;s the way we want it.&#8221;
Why It Matters: This decision follows a series of events that have escalated tensions between the U.S. and Russia. In May, Trump criticized Putin&#8217;s actions in Ukraine, calling him &#8220;absolutely crazy&#8221; after a <a href="http://mobile interceptor missile surface-to-air missile">major aerial assault</a> by Russia on Ukraine.
In July, Defense Secretary Pete Hegseth paused weapons shipments to Ukraine without informing the White House, <a href="https://www.benzinga.com/news/politics/25/07/46361438/trump-says-i-dont-know-who-paused-ukraine-weapon-shipments-hegseth-did-not-inform-the-white-house-report">causing internal confusion</a> and requiring explanations to Congress and Ukrainian officials.
Shortly after, Trump hinted at a significant announcement regarding the U.S. stance on Russia on Monday, <a href="https://www.benzinga.com/news/politics/25/07/46360686/trump-to-make-a-major-statement-on-russia-on-monday-amid-escalating-ukraine-conflict-im-disappointed">expressing disappointment</a> with Russia&#8217;s actions in Ukraine.
Photo Courtesy: Joshua Sukoff on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

News

Politics

General

Trump Says US Will Supply Ukraine With Patriot Missiles: 'Putin Really Surprised A Lot Of People. He Talks Nice And Bombs Everybody In The Evening'

Labubu, a spiky-eared collectible doll created by Hong Kong artist Kasing Lung, has become one of the hottest toys of 2025. With blind-box pricing ranging from $8.99 to nearly $30, and rare editions reselling for thousands, the trend is being driven not just by kids, but by anxious, value-conscious adults.
<h2 class="wp-block-heading">Toy Boom Signals Bigger Shift In Spending Behavior</h2>
According to Shaun Rein, founder of China Market Research Group, the Labubu craze is part of a larger shift toward <a href="https://www.benzinga.com/markets/large-cap/25/06/46064882/amazons-prime-day-secret-weapon-lipstick-and-luxury">emotional spending</a> in uncertain times. &#8220;Pop Mart has been one of my biggest calls for the last three or four years,&#8221; Rein said in a recent CNBC International <a href="https://www.youtube.com/watch?v=p9vS1KLBLeI">interview</a>. &#8220;Consumers are anxious and really saving their money, except for on items like a Legoland experience or on Pop Mart&#8217;s Labubu. It makes them feel good.&#8221;
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He compared the boom to the well-known &#8220;lipstick effect,&#8221; where consumers spend on small luxuries during economic downturns. &#8220;In the United States, when there&#8217;s a weak economy, look at the lipstick effect. In China, it&#8217;s little toys.&#8221;
Rein noted that Pop Mart toys, including Labubu, have become especially popular among young women. &#8220;When you go into office buildings, a lot of the young women in my company have Pop Mart figurines lined up on their tables,&#8221; he told CNBC International. During the strict COVID testing period in China, he saw purchases of the dolls increase noticeably. It was their way of coping.
<h2 class="wp-block-heading">Pop Mart Could Become The Next Disney</h2>
Rein believes Pop Mart is still in its early stages of growth and may follow in the footsteps of major entertainment brands. &#8220;I think Pop Mart five, 10 years from now could have a theme park or an amusement park,&#8221; he said. &#8220;Fits exactly the Chinese consumer mindset right now—spending to feel better because of the anxiety.&#8221;
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Celebrity endorsements have only added to the craze. Stars like Rihanna, Kim Kardashian and David Beckham have been spotted displaying Labubu dolls, sending resale values skyrocketing. The dolls are frequently sold out online, with some editions starting at $167 and climbing far higher on secondary markets.
<h2 class="wp-block-heading">Starbucks Fumbles While Toys Thrive</h2>
Rein contrasted Pop Mart&#8217;s emotional connection and consistent demand with what he sees as a strategic failure by Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) in China. Starbucks used to be luxury in a cup, he told CNBC. Now their outlets &#8220;are terrible, and 40% of their high-end menu items weren&#8217;t selling.&#8221;
See Also: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
Rather than improving quality, Rein said Starbucks is trying to compete on price, a strategy he sees as doomed. &#8220;You can&#8217;t compete with Chinese companies on price,&#8221; he said. &#8220;They&#8217;ll go to lower margins. <a href="https://www.benzinga.com/markets/asset-sales/25/07/46315542/starbucks-attracts-10-billion-in-bids-for-china-unit-amid-rising-competition">Starbucks needs to</a> double down on premium in-store experience and better coffee.&#8221;
Labubu's runaway success, then, is more than just a toy story. It's a window into how stressed-out consumers are seeking comfort, identity and joy in small, meaningful purchases.
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SBUX

Analyst Says Viral Doll Labubu Boom Reflects The 'Lipstick Effect' Among Anxious Spenders

<a href="https://www.benzinga.com/markets/tech/25/06/46159877/steve-jobs-once-spent-two-weeks-choosing-a-washing-machine-for-his-palo-alto-home-and-he-got-more-thrill-out-of-it-than-any-piece-of-high-tech-in-ages">Steve Jobs</a> didn't just miss out on a relationship with his biological father — he unknowingly shook his hand and tipped him generously.
In a twist that sounds almost too ironic to be real, Jobs once ate at a Mediterranean restaurant in Silicon Valley managed by a man from Syria. They exchanged pleasantries, nothing more. The man later described one of his customers — Jobs — as "a great tipper." What he didn't know? That man was his son.
This surreal overlap came to light years later through a recording shared by Jobs's biographer, Walter Isaacson, on a 2011 <a href="https://www.cbsnews.com/news/60-minutes-full-coverage-steve-jobs/">episode of 60 Minutes</a>. According to Isaacson, as <a href="https://archive.nytimes.com/bits.blogs.nytimes.com/2011/10/23/steve-jobss-search-for-his-father/">reported by The New York Times</a>, Jobs had located his birth mother, Joanne Simpson, in the mid-1980s. Through her, he discovered he had a sister, Mona Simpson, a writer living in New York. The two formed a close bond, but Jobs drew a hard line when it came to their biological father, Abdulfattah "John" Jandali.
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"I learned a little bit about him, and I didn't like what I learned," Jobs said in the recording. He was especially upset by Jandali's early abandonment of Mona and their mother.
But Mona, curious to fill in the gaps, eventually found their father. By then, Jandali was managing a restaurant in Sacramento. When she visited, he casually bragged that Jobs used to eat there often and was "a great tipper." He had no idea he was talking about his own son.
Jobs later recalled that encounter: "I remembered being in that restaurant a couple of times. I shook his hand and he shook my hand — and that's all."
They never saw each other again. According to Isaacson, Jandali didn't find out the truth until 2006 — long after the brief restaurant run-in and long after the chance for a real father-son relationship had passed.
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It's the kind of detail that reads like a scene out of a screenplay: two people bound by blood, unknowingly crossing paths, never realizing the connection — one leaving a generous tip, the other left with a story about a polite customer who once ate the hummus.
According to the <a href="http://online.wsj.com/article/SB10001424052970203499704576620911395191694.html">Wall Street Journal</a>, once Jandali realized the truth, he quietly attempted to reach out to Jobs in the final years of his life — mostly through short, polite emails. He reportedly wished Jobs happy birthday and good health. Jobs occasionally responded with brief replies like "Thank you," but kept his distance.&nbsp;
<a href="https://www.dailymail.co.uk/news/article-2047588/Steve-Jobs-dead-Father-Abdulfattah-John-Jandali-son-met.html">The Daily Mail</a> revealed that in the months leading up to Jobs's death, Jandali became overwhelmed with guilt about abandoning his son. But after so many years, he admitted he was too proud to make the first move.
He feared Jobs might think he was only after money — and, as it turns out, his instincts weren't far off. In the biography, Isaacson quoted Jobs as saying he "didn't trust him not to try to blackmail me or go to the press about it."
Although he never picked up the phone, Jandali <a href="https://abcnews.go.com/Technology/steve-jobs-biological-father-regrets-adoption-report/story?id=14381769">said in interviews</a> that he still hoped for a reunion "before it is too late." But ultimately, it never happened.
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Jobs, for his part, made peace with his choice. He told Isaacson that Paul and Clara Jobs — the couple who raised him — were his "real parents 1,000%." And while the missed connection with his biological father makes for a dramatic story, it was one Jobs never felt compelled to rewrite.
He died in 2011 at the age of 56, having briefly crossed paths with the man who gave him life — a stranger at the time, and never more than that. Whatever his reasons, Jobs chose to keep that distance. It was his decision, his boundary, and maybe even his peace.
Although they exchanged only a few words, never <a href="https://www.benzinga.com/personal-finance/management/25/07/46266363/steve-jobs-daughter-says-he-refused-to-give-her-his-old-porsche-when-she-was-9-youre-not-getting-anything-you-understand-nothing">knowing the full story</a>, it's one of those strange twists life offers — two lives colliding without either realizing it. As Jobs <a href="https://youtu.be/UF8uR6Z6KLc?si=kWk7hAFI71wCUUyM">once said</a>, "You can't connect the dots looking forward; you can only connect them looking backward."
And sometimes, you might not even want to.
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Image: Shutterstock

Personal Finance

Steve Jobs Was Adopted And Unknowingly Dined At His Birth Father's Restaurant — His Dad Remembered Him Only As 'A Great Tipper'

In a 1998 Berkshire Hathaway shareholder meeting, renowned investor,&nbsp;Charlie Munger, unveiled his three-step strategy for wealth accumulation starting from scratch.
What Happened:&nbsp;Munger discussed the challenge of building wealth from ground zero. He underscored that rationality, opportunism, and substantial saving are key to wealth creation.
During the <a href="https://www.youtube.com/watch?v=5Tcqlrz6yKo">meeting</a>, Munger advised saving a substantial part of one&#8217;s income. He illustrated that by saving $2000 a month from a $100,000 salary, one could amass $100,000 in just over three years.
In the second step, Munger advocated for the use of knowledge to profit from side businesses. This includes being vigilant for opportunities to increase earnings, such as starting a side business or capitalizing on rational investment ideas.
Also Read: <a href="https://www.benzinga.com/news/25/05/45338404/charlie-mungers-financial-success-advice-i-avoided-standard-ways-of-failing-because-my-game-in-life-was-always-to-avoid-all-standard-ways-of-failing">Charlie Munger&#8217;s Financial Success Advice: &#8216;I Avoided Standard Ways Of Failing, Because My Game in Life Was Always To Avoid All Standard Ways of Failing&#8217;</a>
Finally, Munger stressed the significance of investing in personal education and training. This sentiment was echoed by Vaibhav, who highlighted the importance of investing in self-education to reach financial objectives.
Munger also discussed the potency of compound interest, explaining&nbsp;that once you have $100,000&nbsp;invested, your existing cash pile&nbsp;saves much more than you&nbsp;do, and this gap only widens with time.
Why It Matters:&nbsp;Munger&#8217;s advice is not only relevant to individuals starting their wealth-building journey but also serves as a reminder to seasoned investors about the fundamental principles of wealth accumulation. 
His emphasis on saving, leveraging knowledge for profit, and investing in personal education underscores the importance of a disciplined and strategic approach to wealth creation. 
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Image: Shutterstock

Success Stories

Charlie Munger's Three-Step Wealth Accumulation Strategy: 'Save Diligently, Seize Opportunities, And Continuously Self-Educate'

Recently surfaced recordings reveal that Jeffrey Epstein claimed to be a close friend of President Donald Trump.
What Happened: These statements, made in 2017, offer insights into Epstein&#8217;s relationship with Trump and his alleged intimate knowledge of Trump&#8217;s sexual behaviors. 
During the conversation with Michael Wolff, Epstein boasted about his close ties with Trump, even claiming that Trump&#8217;s first sexual encounter with his current wife Melania occurred on Epstein&#8217;s aircraft, <a href="https://www.thedailybeast.com/listen-to-the-jeffrey-epstein-tapes-i-was-donald-trumps-closest-friend/">reports </a>The Daily Beast. 
Recorded during the interview, these tapes are expected to reignite discussions about&nbsp;the character of the Republican&nbsp;candidate, especially his attitudes towards women, in the lead-up to the forthcoming election.
The tapes portray a multifaceted image of Trump, with Epstein describing him as &#8220;charming&#8221; and &#8220;fun&#8221;, while also alleging that Trump repeatedly cheated in his marriages. 
Epstein suggested that Trump took pleasure in engaging in sexual activities with the wives of his closest friends. He further insinuated that Trump was essentially a man devoid of friends, incapable of showing kindness.
When asked by Wolff, "How do you know all this?" Epstein responded saying, "I was Donald's closest friend for 10 years."
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46382060/ex-trump-lawyer-dershowitz-claims-knowledge-of-epstein-client-list-i-know-the-names-but-im-bound-by-confidentiality">Ex-Trump Lawyer Dershowitz Claims Knowledge of Epstein Client List: &#8216;I Know the Names, But I&#8217;m Bound by Confidentiality&#8217;</a>
Wolff, who was conducting research for his book &#8220;Fire and Fury&#8221; during the time of the interview,&nbsp;shared the tape with the&nbsp;Daily Beast. He claims to have&nbsp;up to 100 hours of&nbsp;recorded interviews with Epstein.
Trump&#8217;s team has dismissed the tapes as &#8220;false smears&#8221;. The tapes also shed light on the relationship between Epstein and Trump, two affluent men who frequently socialized together&nbsp;in New York and Atlantic&nbsp;City.
The tapes provide Epstein&#8217;s viewpoint on their relationship, a relationship that led one man to infamy, prison, and ultimately suicide, and the other to power, the Oval Office,&nbsp;and his own criminal conviction. 
The tapes also contain allegations about Trump&#8217;s behavior towards women, which are likely to draw attention given their long-standing friendship and the numerous accusations of sexual misconduct against the former president.
Last week, the Justice Department announced that it will not release any more documents related to the case of Epstein. Epstein died by suicide in custody in 2019 while awaiting trial on sex trafficking and conspiracy charges.
Read Next
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Image: Shutterstock/Copyright Lawrey

Jeffrey Epstein in Tapes Released by Michael Wolff: 'I Was Donald's Closest Friend'

Justine Musk, the ex-wife of billionaire tech mogul Elon Musk, shed light on the secret behind his extraordinary success.
What Happened: Justine Musk unveiled the key to the triumph of&nbsp;Elon Musk during her TEDx Talk a few years back. The secret, she divulged, is encapsulated in a single word: &#8220;No.&#8221;
"I was married to a man who became extremely successful. And as I watched him rise I noticed two things. He worked very hard, much harder than your average bear. And he said no, a lot,&#8221; Justine Musk <a href="https://www.youtube.com/watch?v=ptFYmNuRNyQ">said </a>during the talk.
"He said no to people who wanted his time and attention and energy. He said no in a way that protected his resources so he could channel them towards his own goals. And I realized that&nbsp;behind every no there is a deeper yes&nbsp;to whatever it is that you do want," she added. 
Elon Musk has witnessed a meteoric rise to power in recent years, earning the title of the world&#8217;s wealthiest man.
Despite teetering on the brink of bankruptcy on multiple occasions, Musk&#8217;s unwavering determination has been instrumental in his success. 
Also Read: <a href="https://www.benzinga.com/general/social-media/25/03/44209885/elon-musks-ex-wife-spills-the-truth-about-what-it-really-takes-to-be-a-billionaire-there-is-no-roadmap-no-blueprint-for-this">Elon Musk&#8217;s Ex-Wife Spills The Truth About What It Really Takes To Be A Billionaire: &#8216;There Is No Roadmap, No Blueprint For This&#8217;</a>
Justine Musk, who was wedded to Elon until 2013, pointed out that he frequently said &#8220;no&#8221; to safeguard his resources and direct them towards his own objectives.
"He had grown up in the male-dominated culture of South Africa, and&nbsp;the will to compete and dominate that made him so successful in business&nbsp;did not magically shut off when he came home," Justine Musk further continued. 
While she admired his uncompromising business strategy, she also underscored the difficulties it imposed on their personal relationship. Despite their separation, Justine Musk affirmed she holds no regrets about their marriage.
Elon Musk&#8217;s success story is a testament to the power of focus and determination. His ability to say &#8220;no&#8221; to distractions and channel his resources towards his goals has been a key factor in his rise to the top. 
This revelation provides a fresh perspective on the strategies employed by successful entrepreneurs and could serve as a guide for aspiring business leaders. 
Despite the personal challenges it may bring, such a resolute approach could be the key to achieving extraordinary success in the business world.
Read Next
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Image: Shutterstock/Frederic Legrand &#8211; COMEO

TSLA

Elon Musk's Ex-Wife Reveals His Success Secret, And It Comes Down to This One Powerful Word

The artificial intelligence startup,&nbsp;xAI, backed by Elon Musk, is facing backlash from its employees over the introduction of a controversial workforce management system.
What Happened: The company has been encouraging its staff to install a software called Hubstaff on their personal laptops. This move has raised significant privacy concerns and has even led to an employee&#8217;s resignation.
Initially, xAI directed its tutors,&nbsp;who train its Grok chatbot, to install the software by July 11, particularly those without a company-issued device. 
As per the report <a href="https://www.businessinsider.com/xai-pressed-workers-install-surveillance-software-personal-laptops-2025-7">by </a>Insider, The mandatory software enabled screen captures, and monitored&nbsp;URL and application visits during&nbsp;work hours. Additionally, Hubstaff has the capability to&nbsp;track mouse movement and keystrokes.
After the outlet&#8217;s inquiries, xAI revised its policy. Employees who requested company laptops could postpone the software installation until they received their company-issued device. 
However, the company has not clarified whether employees who adhered to the initial&nbsp;deadline or purchased a new&nbsp;device can also delay the software installation.
xAI&#8217;s HR team justified the new tool as a means to &#8220;streamline work processes, provide clearer&nbsp;insights into daily tutoring activities,&nbsp;and ensure resources align with&nbsp;Human Data priorities.&#8221; 
Also Read: <a href="https://www.benzinga.com/markets/tech/25/07/46380521/elon-musk-rejects-reports-that-xai-is-looking-to-raise-additional-funds-at-200-billion-valuation-we-have-plenty-of-capital">Elon Musk Rejects Reports That xAI Is Looking To Raise Additional Funds At $200 Billion Valuation: &#8216;We Have Plenty Of Capital&#8217;</a>
Nonetheless, several employees expressed their privacy concerns, with one resigning over the Hubstaff roll-out, describing it as&nbsp;&#8220;surveillance disguised as productivity&#8221; and&nbsp;&#8220;manipulation masked as culture.&#8221;
Employees concerned about data privacy were advised&nbsp;to either purchase a new&nbsp;computer using xAI&#8217;s $50 per&nbsp;month tech stipend or create&nbsp;a separate log-in and profile&nbsp;on their device. The software would not track activity outside of work hours.
Why It Matters: This incident underscores the ongoing debate about employee privacy in the era of remote work. As companies increasingly turn to digital tools to manage their workforce, the balance between productivity and privacy is becoming a contentious issue. 
The situation at xAI serves as a stark reminder of the potential pitfalls of such technologies and the importance of clear communication and transparency in their implementation.
Read Next
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Image: Shutterstock/Kemarrravv13

Tech

Elon Musk's xAI Forced Employees To Install Surveillance Software, Here's What Happened Next

So you've finally hit that $3 million mark in retirement savings. Maybe you sold a business, maxed out your 401(k) for decades, or just had a great run in the market. Either way, <a href="https://www.benzinga.com/personal-finance/25/02/43539942/are-you-rich-heres-what-americans-think-you-need-to-be-considered-wealthy-2">you're officially "rich retired."</a> But here's the kicker: you're probably not living like it.
According to the latest <a href="https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/retirement-insights/guide-to-retirement-us.pdf">Guide to Retirement from J.P. Morgan Asset Management</a>, retirees with nest eggs between $1 million and $3 million spend a median of just $63,480 per year — and that's not a typo. These are people sitting on seven figures, and many of them are spending roughly what the average American household does.
Compare that with data from the U.S. Bureau of Labor Statistics, which shows the average retired household spends about $5,000 per month, or $60,000 per year, based on <a href="https://www.bls.gov/opub/reports/consumer-expenditures/2023/">2023 Consumer Expenditure Survey data</a>. The difference? Barely a vacation's worth.
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And if you're thinking, "Well sure, most retirees don't have millions saved," you'd be right. <a href="https://www.empower.com/the-currency/life/average-401k-balance-age">Empower reports</a> that the median 401(k) balance for Americans aged 60–69 is only $210,724. The average? $573,624 — still far from millionaire territory.
So why are millionaire retirees keeping their spending so close to the average? According to J.P. Morgan, it all comes down to where the money is parked — not just how much there is.&nbsp;
Retirees who rely heavily on retirement accounts like 401(k)s or IRAs tend to spend far less than those who have a larger share of guaranteed income — think pensions, annuities, or strong Social Security benefits. In that same $1M–$3M group, retirees with more guaranteed income spent up to $71,110 annually.
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>
The difference is even more dramatic for the next wealth tier. Retirees with $3 million to $5 million who had more guaranteed income spent a median of $133,380 per year, compared to just $95,470 for those with less. In other words, even among the rich, confidence in spending is fueled less by account balances and more by predictability.
Even among those with sizable nest eggs, few retirees are drawing down their assets aggressively. According to J.P. Morgan, over a recent four-year period, half of retirees withdrew less than 2% annually from their portfolios — well below the commonly cited 4% rule. Many took only the required minimum distributions, choosing to let the rest sit tight. It's another sign that wealth doesn't always translate into lifestyle upgrades.
You can have all the money in the world, but unless it's flowing in like a paycheck, chances are you're still going to act like you're budgeting. That <a href="https://www.benzinga.com/personal-finance/25/01/42885231/can-you-guess-what-percent-of-people-retire-with-a-3-million-nest-egg-hint-its-an-incredibly-low-number">$3 million nest egg</a> may sound extravagant — but for many retirees, it doesn't feel like a green light to go wild. At least, not until they know the money's coming in no matter what.
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Image: Shutterstock

Can You Guess What A Rich Retiree With $3 Million Spends Per Year? It's A Lot Less Than You'd Expect

Billionaire investor&nbsp;Ray Dalio&nbsp;underscored the significance of diversification in achieving investment success.
Dalio, former CEO of&nbsp;Bridgewater Associates, has shared his investment insights, highlighting diversification. &#8220;Diversifying well is the most important thing you need to do in order to invest well,&#8221; he said in a statement. 
Known for his macroeconomic viewpoint, Dalio has seldom advocated for individual stocks, preferring to concentrate on broader asset classes such as sovereign bonds and commodities.
Under Dalio&#8217;s stewardship, Bridgewater Associates rose to prominence as the world&#8217;s largest hedge fund in 2005. When he resigned as CEO in 2017, the firm&#8217;s portfolio was valued at $160 billion. Dalio&#8217;s investment strategies, including his precise prediction of&nbsp;the 2008 subprime mortgage banking&nbsp;crisis, were largely credited for the firm&#8217;s success.
According to reports, Dalio&#8217;s investment methodology has garnered a significant following, with his quotes often serving as investment guidelines. 
Also Read: <a href="https://www.benzinga.com/news/24/12/42380616/ray-dalio-reveals-his-three-step-strategy-for-success">Ray Dalio Reveals His Three-Step Strategy For Success</a>
His emphasis on diversification is viewed as a crucial risk mitigation tactic, encouraging investors to distribute their investments across a variety of asset classes.
Dalio has also expressed admiration for China&#8217;s economic and technological progress, despite criticism for disregarding the country&#8217;s human rights abuses. 
He has highlighted the need for reform in American capitalism, pointing to unfunded social liabilities and systemic obstacles to upward mobility that intensify&nbsp;income inequality in the US.
Dalio&#8217;s principle of diversification can be applied by individual investors in two ways. The literal approach involves constructing a diversified portfolio with&nbsp;ETFs for precious metals, commodities,&nbsp;sovereign bonds, and similar asset&nbsp;classes. 
The figurative approach involves employing the principle as a standard risk mitigation strategy, diversifying asset classes in a personal portfolio.
Read Next
<a href="https://www.benzinga.com/markets/25/03/44550983/ray-dalios-timeless-stock-market-advice-dont-try-to-time-the-market-yourself-because-youll-probably-lose">Ray Dalio&#8217;s Timeless Stock Market Advice: &#8216;Don&#8217;t Try to Time the Market Yourself Because You&#8217;ll Probably Lose&#8217;</a>
Image: Shutterstock

Ray Dalio Shares Crucial Investment Advice for Those Who Want to Invest Well

In the wake of rumors surrounding Attorney General Pam Bondi&#8216;s possible resignation over the Jeffrey Epstein investigation, President Donald Trump has stepped forward to defend her. This comes shortly&nbsp;after FBI Director Kash Patel&nbsp;dismissed such rumors as <a href="https://www.benzinga.com/news/politics/25/07/46264647/elon-musk-renews-demand-for-jeffrey-epstein-files-release-weeks-after-alleging-trump-is-named-in-them">mere conspiracy theories.</a>
What Happened: President Trump commended Bondi&#8217;s work and encouraged Americans to shift their focus away from Epstein. He expressed his support for Bondi on Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/114842356238631061">post</a>, characterizing her work as &#8220;fantastic.&#8221;
&#8220;What's going on with my "boys" and, in some cases, "gals?" They're all going after Attorney General Pam Bondi, who is doing a FANTASTIC JOB! We're on one Team, MAGA, and I don't like what's happening. LET PAM BONDI DO HER JOB — SHE'S GREAT,&#8221; he wrote in the post. 
Trump&#8217;s comments came in the wake of reports about a tense altercation&nbsp;between FBI Deputy Director Dan&nbsp;Bongino and Bondi at the&nbsp;White House earlier in the week. 
This confrontation transpired following&nbsp;a Justice Department review of&nbsp;Epstein&#8217;s case, which found no significant evidence pertaining to his death or the alleged &#8220;client list.&#8221;
Bongino, who had previously speculated about the Epstein file before his government tenure, was reportedly contemplating resignation&nbsp;after less than four months&nbsp;in office. 
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46382060/ex-trump-lawyer-dershowitz-claims-knowledge-of-epstein-client-list-i-know-the-names-but-im-bound-by-confidentiality">Ex-Trump Lawyer Dershowitz Claims Knowledge of Epstein Client List: &#8216;I Know the Names, But I&#8217;m Bound by Confidentiality&#8217;</a>
Patel refuted these rumors on social media, asserting, &#8220;The conspiracy theories just aren&#8217;t true, never have been.&#8221; He reiterated his commitment to serving under President Trump.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The conspiracy theories just aren't true, never have been. It's an honor to serve the President of the United States <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> — and I'll continue to do so for as long as he calls on me.
&mdash; Kash Patel (@Kash_Patel) <a href="https://twitter.com/Kash_Patel/status/1944101148903760317?ref_src=twsrc%5Etfw">July 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The controversy erupted after the Justice Department concluded a probe into Epstein&#8217;s death and found no incriminating &#8220;client list.&#8221; 
Bondi&#8217;s department issued a memo stating that Epstein&#8217;s death was a suicide, affecting &#8220;over one thousand victims,&#8221; but found no credible evidence supporting claims of Epstein blackmailing high-profile individuals.
Why It Matters: The controversy surrounding the Epstein probe and the alleged resignation rumors highlight the ongoing tension within the Justice Department. 
The public endorsement by President Trump could potentially stabilize the situation, but it also underscores the political implications of the Epstein case. 
The dismissal of conspiracy theories by FBI Director Patel further emphasizes the need for factual discourse in such high-profile cases. 
The outcome of this situation could have significant implications for the Justice Department and its handling of sensitive cases in the future.
Read Next
<a href="https://www.benzinga.com/news/politics/25/07/46382248/jeffrey-epstein-case-ex-trump-white-house-lawyer-says-pam-bondi-isnt-going-anywhere-amid-power-struggle">Jeffrey Epstein Case: Ex-Trump White House Lawyer Says Pam Bondi Isn&#8217;t Going Anywhere Amid Power Struggle</a>
Image: Shutterstock/DT phots1

Trump Stands by Attorney General Amid Jeffrey Epstein Controversy: 'Let Pam Bondi Do Her Job — She's Great'

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is in the midst of a significant management reshuffle. Despite the company&#8217;s biggest crisis in years, CEO&nbsp;Tim Cook&nbsp;remains firmly at the helm.
Bloomberg's&nbsp;Mark Gurman,&nbsp;in his&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2025-07-13/is-apple-going-to-replace-ceo-tim-cook-who-is-the-next-ceo-of-apple-ternus-md1mhrj4?srnd=undefined">latest&nbsp;</a>weekly "Power On&#8221; report revealed that, Jeff Williams, Tim Cook&#8216;s longtime deputy, has announced his retirement plans, leaving no clear successor in place. 
Despite this, there are no signs that Cook is planning to step down or is grooming a replacement. The board, which is largely made up of Cook loyalists, has not felt the need for a change in leadership.
Although Apple&#8217;s shares have fallen 16% this year, they have seen a surge of around 1,500% since Cook assumed the role of CEO in 2011. Despite current challenges, including AI missteps and&nbsp;an aging product lineup, the&nbsp;board continues to view Cook&nbsp;as the only person capable&nbsp;of guiding the company.
There is a growing recognition among Apple&#8217;s top decision-makers that changes are necessary. Services chief Eddy Cue has internally warned&nbsp;that Apple risks becoming the&nbsp;next BlackBerry or Nokia if&nbsp;it doesn&#8217;t adapt quickly.
Also Read: <a href="https://www.benzinga.com/markets/25/06/45852024/apples-liquid-glass-interface-set-to-revolutionize-ios-26-hints-at-20th-anniversary-iphone">Apple&#8217;s Liquid Glass Interface Set To Revolutionize iOS 26, Hints At 20th Anniversary iPhone</a>
Several top executives are nearing retirement age, marking the&nbsp;biggest leadership turnover in decades.&nbsp;Operations executive Sabih Khan will replace Williams, and CFO Luca Maestri handed over his duties to Kevan Parekh earlier this year.
Despite these changes, there is concern about&nbsp;the lack of a quick&nbsp;CEO replacement in case of&nbsp;an emergency. The most plausible successor remains hardware chief Ternus, who&nbsp;is about 15 years younger&nbsp;than Cook and has been with Apple for over 20 years.
The management reshuffle at Apple comes at a critical time for the tech giant. With several top executives nearing retirement, the company is facing its&nbsp;biggest leadership turnover in decades.&nbsp;This could potentially impact Apple&#8217;s strategic direction and its ability to innovate and compete in the rapidly evolving tech industry.
Despite the challenges, the board&#8217;s continued faith in Cook&#8217;s leadership suggests that they believe he is the best person to navigate the company through this period of change. 
However, the lack of a clear successor to Cook raises questions about the company&#8217;s succession planning and its preparedness for any unforeseen circumstances that may require a change in leadership.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/topics/25/06/45712700/apples-ai-struggles-to-keep-pace-with-rivals-ahead-of-wwdc-2025" target="_blank" rel="noreferrer noopener">Apple's AI Struggles To Keep Pace With Rivals Ahead Of WWDC 2025</a>
Image: Shutterstock

AAPL

Apple Undergoing Major Management Overhaul, But CEO Tim Cook To Stay On

Global <a href="https://www.benzinga.com/topic/copper">copper production</a> is projected to grow at an average annual rate of 2.9% over the next decade. The latest forecast from BMI (Fitch Solutions) expects the rise from 23.8 million tons in 2025 to 30.9 million tons by 2034, owing to new projects and expansions across key jurisdictions in South America, Asia, and Africa.
The report, cited <a href="https://www.metal.com/en/newscontent/103424116">by</a> Shanghai Metals Market, shows that global copper output is expected to rise 2.5% in 2025, driven by a recovery in Chile and further ramp-up at Mongolia's Oyu Tolgoi mine.
The 2025 projection has been revised downward slightly due to reduced guidance at the Kamoa-Kakula mine in the DRC, which was affected by seismic activity. BMI noted continued downside risks flagged by miners such as Glencore (OTCPK: GLCNF) and Anglo American (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUKD#OTC">AAUKD</a>), but noted an <a href="https://www.benzinga.com/news/guidance/25/01/42840568/chiles-codelco-targets-turnaround-with-modest-copper-output-increase-and-strategic-lithium-ventures">optimistic outlook</a> from key producers like Chile's Codelco.
Regionally, Chile is forecast to maintain its position as the world's top copper producer, with 2025 output expected to reach 5.7 million tons, accounting for around 25% of global supply. Sustained growth from Teck Resources' (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) Quebrada Blanca project will help offset declines at aging mines from Codelco, which linger despite <a href="https://www.benzinga.com/25/04/44709462/miners-urge-chile-to-cut-bureaucracy-before-country-loses-copper-leadership">multi-billion-dollar capex</a>.
Zambia, while facing structural challenges, is also expected to post steady gains as investor interest grows and reforms take hold. BMI believes that countries across Africa and South America could capture a greater share of global production as Western manufacturers push for diversified and stable supply chains.
Copper is currently in the spotlight owing to President Donald Trump's plan to impose a <a href="https://www.benzinga.com/markets/commodities/25/07/46339702/trumps-copper-tariff-echoes-through-global-mining-tunnels">50% tariff on refined copper</a> beginning August 1. Yet, <a href="https://www.benzinga.com/25/04/44592724/under-the-radar-navigating-the-copper-crunch-amidst-tariff-turbulence">domestic shortages</a> might force the administration to reconsider before higher costs start pushing prices higher. Jefferies analyst Christopher LaFemina <a href="https://www.bloomberg.com/news/articles/2025-07-09/copper-futures-in-london-drop-after-trump-plan-50-import-tariff">warned</a> that "the U.S. does not have nearly enough mine, smelter or refinery capacity to be self-sufficient in copper," adding that tariffs are likely to drive U.S. price premiums higher relative to global markets.
Still, foreign miners see an opportunity in ramping up the US production. Per Bloomberg's <a href="https://www.bloomberg.com/news/articles/2025-07-11/rio-tinto-wants-to-invest-more-in-us-copper-under-trump-tariffs?srnd=phx-markets">report</a>, Rio Tinto's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) copper Chief Executive Katie Jackson said the company sees "significant opportunities to grow our business in the United States" and noted a "strong desire" to invest more in U.S. copper mining.&nbsp;
Industry veteran Robert Friedland backed Trump's tariff plan, calling it "obvious and intelligent" for pushing domestic production.
"There's a new list of critical raw materials and without it, you can't do anything about global warming or greening the world economy, and you have a critical vulnerability in national security," the billionaire founder of Ivanhoe Mines <a href="https://www.ft.com/content/bcd9b72d-4ebb-4d07-b20e-3a2e2c014f41">said</a> to The Financial Times.
Read Next: <a href="https://www.benzinga.com/markets/commodities/25/07/46364954/malawi-lands-12-billion-chinese-deal-to-boost-mining-and-balance-regional-influence">Malawi Lands $12 Billion Chinese Deal To Boost Mining And Balance Regional Influence</a>
Image: Shutterstock/Siwakorn TH

Commodities

AAUKD

GLCNF

TECK

Global Copper Output to Grow 2.9% Annually Through 2034

Pump.fun, a platform that enables users to generate their own speculative tokens, amassed an impressive $600 million within a mere 12 minutes on Saturday.
What Happened: The initial coin offering (ICO) of Pump.fun is among the largest ever, following closely behind Bitcoin&#8217;s recent record-breaking high. 
The platform, which operates on the Solana blockchain, had previously disclosed its intention to sell 150 billion tokens at $0.004 each, after already selling a 180 billion token block to private investors at the same price.
Pump.fun&#8217;s co-founder,&nbsp;Alon Cohen, verified that the public sale garnered $600 million, pushing&nbsp;the total sale to $1.32&nbsp;billion. However, investors from the US and UK were not allowed to participate in the token purchase.
Despite initial concerns that the sale could negatively affect the wider memecoin market,&nbsp;Zaheer Ebtikar, the&nbsp;founder of crypto fund Split&nbsp;Capital, observed a rapid transition from fear to FOMO among investors, <a href="https://www.bloomberg.com/news/articles/2025-07-12/memecoin-platform-pump-fun-raises-600-million-within-12-minutes?srnd=homepage-asia">reports </a>Bloomberg. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935252/shiba-inu-burns-skyrocket-by-300-amid-calls-for-larger-burns-from-shib-army">Shiba Inu Burns Skyrocket by 300% Amid Calls for Larger Burns From SHIB Army</a>
Since its 2024 launch by founders Cohen,&nbsp;Noah Tweedale, and&nbsp;Dylan Kerler, Pump.fun has significantly contributed to&nbsp;the explosive growth in memecoins, generating&nbsp;nearly $800 million in revenue. 
The Pump tokens are anticipated to become tradable 48-to-72 hours post-sale.
Why It Matters: The success of Pump.fun&#8217;s ICO underscores the enduring appeal of memecoins among investors. Despite regulatory concerns and market volatility, the memecoin market continues to grow, driven by platforms like Pump.fun that democratize token creation. 
The exclusion of US and UK investors from the token sale also highlights the ongoing regulatory challenges faced by such platforms, which could shape the future trajectory of the memecoin market.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43216735/heres-how-this-trader-nets-6208-profit-in-just-four-days-with-melania-meme-coin">Here&#8217;s How One Trader Netted 6,208% Profit in Just Four Days With MELANIA Meme Coin</a>
Image: Shutterstock/Akif CUBUK

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

Cryptocurrency

Markets

This Memecoin Platform Raised $600 Million In Just 12 Minutes

A Reddit user recently opened up about a common fear many new investors face: buying into the stock market when prices are peaking. &#8220;I feel weird about starting investing when companies are in an all-time high,&#8221; <a href="https://www.reddit.com/r/stocks/comments/1lwwbxm/i_feel_silly_buying_at_an_all_time_high/">wrote</a> the poster, who said they&#8217;re ready to invest a lump sum this month but are second-guessing the timing.
<h2 class="wp-block-heading">Worrying About The Peak</h2>
The person, who isn&#8217;t currently invested outside of a 401(k), said they believe in the long-term potential of AI and tech companies. They&#8217;re not expecting massive short-term gains, but they do hope that &#8220;the current top companies with a combined market cap of 10T might be worth 2-3x more 20 years from now.&#8221;
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Their hesitation comes at a time when the markets continue to break records. On July 10, the Dow Jones Industrial Average climbed roughly 0.4% in a continuation of recent gains across major indexes. The S&amp;P 500 inched up 0.3% to finish at a <a href="https://www.benzinga.com/markets/equities/25/07/46359566/sp-500-settles-at-record-high-as-delta-air-lines-stock-surges-fear-greed-index-remains-in-extreme-greed-zone">new record high</a> of 6,280.46, while the Nasdaq Composite advanced 0.1% to mark its second consecutive all-time high. AI chipmaker Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) closed slightly higher, ending the day just above a <a href="https://www.benzinga.com/markets/tech/25/07/46326271/nvidia-breaks-4-trillion-barrier-benzinga-poll-predicted-it-first">$4 trillion market cap</a>, making it the first public company in history to surpass that milestone.
The post triggered many responses from Reddit&#8217;s r/stocks community, most urging the user to stop overthinking and just start investing.
&#8220;If you bought at the all time highs for each year, you wouldn&#8217;t be far from those who perfectly timed the bottoms,&#8221; one investor said, referencing data that shows time in the market typically beats trying to time the market.
Another pointed out that the market is almost always at a high. &#8220;Zoom out, the market is usually near or at ATH,&#8221; they wrote.
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>
<h2 class="wp-block-heading">Lump Sum Vs. Dollar-Cost Averaging</h2>
Plenty of commenters acknowledged the fear of losing money right after a big buy. While many recognized that <a href="https://www.benzinga.com/personal-finance/25/02/43759719/suze-school-lump-sum-investing-dollar-cost-averaging-and-value-cost-average-which-is-her-favorite">lump sum investing</a> performs better most of the time, others recommended a slower approach known as <a href="https://www.benzinga.com/personal-finance/25/03/44550600/redditor-asks-if-dollar-cost-averaging-into-individual-stocks-makes-sense-i-was-thinking-of-addi">dollar-cost averaging</a>.
&#8220;DCA isn't to get the most gains, it's to remove the possibility of buying a large sum and having it crash right after,&#8221; one person wrote. &#8220;It's like buying insurance.&#8221;
Others were more straightforward. &#8220;There's always a reason not to buy,&#8221; one person said. &#8220;When you lose out on thousands years from now, not getting in, you'll regret it.&#8221;
See Also: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
One Redditor shared their own anxiety-ridden journey as a new investor who inherited money from a parent: &#8220;Sometimes I feel like the more informed I am, the worse my returns have become.&#8221;
There was also plenty of humor in the thread. &#8220;Just know that as soon as you buy, the market will crash. That&#8217;s the law of this subreddit,&#8221; joked one top comment.
Despite the jokes and differing strategies, most commenters echoed the same long-term philosophy: invest early, stay consistent, and don't let fear paralyze you. As one put it, &#8220;You can buy at all time highs today or at all time highs five years from now. Your choice.&#8221;
Read Next: Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O&#8217;Reilly and Rudy Giuliani are using this platform to <a href="https://www.benzinga.com/money/american-hartford-gold">create customized gold IRAs to help shield their savings from inflation and economic turbulence.&nbsp;</a>
Image: Shutterstock

NVDA

With Markets At All-Time Highs, A First-Time Investor Hesitates. The Fear Of Buying At The Top Is Hard To Shake

These ten large-cap stocks were the worst performers last week. Are they a <a target="_blank" href="https://www.benzinga.com/trading-ideas" rel="noreferrer noopener">part of your portfolio</a>?
<ol class="wp-block-list">
<li>CoreWeave, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) stock lost over 21.84% last week following the recent <a href="https://www.benzinga.com/node/46352461">announcement that it will acquire</a> Core Scientific, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>).</li>
<li>Fair Isaac Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>) stock decreased 18.11% after Wells Fargo reiterated an Overweight rating, <a href="https://www.benzinga.com/quote/FICO/analyst-ratings" target="_blank" rel="noreferrer noopener">lowering the price forecast from $2600 to $2300.</a></li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) stock fell 13.81% after the company announced a <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46343655/mobileye-global-stock-is-sliding-thursday-whats-going-on" target="_blank" rel="noreferrer noopener">secondary offering of 50 million shares</a>. Mobileye said earlier this week that it expects second-quarter revenue to be in the range of $502 million to $506 million versus estimates of $463.26 million.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) stock fell 11.81% this week after CEO and Co-Founder Michael Cannon-Brookes sold shares <a href="https://www.benzinga.com/movers" target="_blank" rel="noreferrer noopener">in multiple transactions.</a></li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) stock slipped 9.26% this week after UbiQD signed an exclusive multi-year deal to supply <a href="https://www.benzinga.com/pressreleases/25/07/n46317606/ubiqd-and-first-solar-establish-long-term-quantum-dot-supply-agreement" target="_blank" rel="noreferrer noopener">fluorescent QD technology.</a></li>
<li>Nebius Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIS#NASDAQ">NBIS</a>) stock fell 9.68% this week.</li>
<li>Datadog, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) stock dropped 11.48% after Guggenheim downgraded the stock to Sell, citing optimization risks tied to OpenAI, <a href="https://www.benzinga.com/quote/DDOG/analyst-ratings" target="_blank" rel="noreferrer noopener">with a $105 price forecast.</a></li>
<li>Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) stock fell 11.63% following a report that the company is considering a takeover of a competing <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46333062/autodesk-stock-is-moving-lower-whats-happening" target="_blank" rel="noreferrer noopener">engineering-software provider</a>, PTC Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTC#NASDAQ">PTC</a>).</li>
<li>Royal Gold, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>) stock decreased 3.61% this week after the firm reported updates for its second quarter 2025 stream segment sales and details for its release of the quarter. The company also unveiled  <a href="https://www.benzinga.com/pressreleases/25/07/n46270672/royal-gold-to-acquire-sandstorm-gold-royalties-and-horizon-copper-forming-large-scale-industry-lea" target="_blank" rel="noreferrer noopener">two simultaneous acquisitions</a>, a $3.5 billion all-share merger with Sandstorm Gold Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAND#NYSE">SAND</a>) and <a href="https://www.benzinga.com/m-a/25/07/46275779/royal-gold-acquires-sandstorm-and-horizon-in-bold-expansion-move">a $196 million cash deal</a> for Horizon Copper Corp<a href="https://www.benzinga.com/m-a/25/07/46275779/royal-gold-acquires-sandstorm-and-horizon-in-bold-expansion-move" target="_blank" rel="noreferrer noopener">.</a></li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) stock fell 10.01% this week. Guggenheim reiterated a Sell rating on the stock, <a href="https://www.benzinga.com/quote/NOW/analyst-ratings" target="_blank" rel="noreferrer noopener">with a $724 price forecast.</a></li>
</ol>
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CoreWeave, Mobileye And First Solar Are Among Top 10 Large Cap Losers Last Week (July 7-July 11): Are The Others In Your Portfolio?

While many billionaires start their morning routine with coffee and watching the news or reading the news online, Bill Gates revealed in 2022 that part of his daily routine included <a href="https://www.benzinga.com/news/22/01/25224359/what-is-wordle-how-to-play-the-hottest-new-free-puzzle-game-everyone-is-talking-about">playing word game Wordle.</a>
Here's a look back at Gates's addiction to World and other guessing games and how it could help you if you're still playing.
What Happened:&nbsp;The&nbsp;Microsoft Corporation&nbsp;co-founder&nbsp;<a href="https://www.gatesnotes.com/About-Bill-Gates/Wordle" target="_blank" rel="noreferrer noopener">shared&nbsp;</a>in August 2022 that he "can't stop playing Wordle" in a blog post.
"I've started every day since February or March doing the same thing. Not long after I wake up, I grab my phone or laptop and solve Wordle, the puzzle where you get six chances to guess a five-letter English word," Gates said.
Gates also plays&nbsp;Quordle, a four-word puzzle game, and&nbsp;Octordle, an eight-word puzzle game, which are both similar to the play style of Wordle.
Along with playing the games, Gates admitted&nbsp;he's competitive and checked&nbsp;daily to see how he stacked up with friends and family at the number of turns or guesses it took to solve each puzzle game.
Gates said unlike some other "time stinks," puzzle games such as&nbsp;Wordle are a great way to connect with people.
Wordle was<a href="https://www.benzinga.com/news/22/01/25224359/what-is-wordle-how-to-play-the-hottest-new-free-puzzle-game-everyone-is-talking-about" target="_blank" rel="noreferrer noopener">&nbsp;launched in 2021</a>&nbsp;by Josh Wardle and went viral in late 2021 with strong mentions and shares on social media with many celebrities playing the game and sharing it with their followers. The puzzle game company was&nbsp;<a href="https://www.benzinga.com/m-a/22/01/25327396/addictive-word-game-wordle-bought-over-by-nyt-for-low-seven-figures-what-you-need-to-know" target="_blank" rel="noreferrer noopener">sold&nbsp;</a>to the&nbsp;New York Times Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>)&nbsp;in January 2022 in a low seven-figure deal, according to reports.
Gates said he might have an advantage with Wordle from reading a lot of English literature.
"Every once in a while, there'll be a word where you're like I've never used that word," he said.
Gates said he knew the word Smite because he read the Bible and&nbsp;Duchy because of reading English literature.
Gates also said there's a website that offers Wordle in 64 languages including some made up from Star Trek and Lord of the Rings.
"I consider myself a nerd, but anyone who can solve a Wordle in Klingon or Elvish is on a whole other level," he said.
Gates noted&nbsp;he usually solved&nbsp;the Wordle within four guesses or sometimes five. For Octordle, Gates once solved the eight words in 10 guesses on practice mode but admits he's never done that well in the normal puzzles.
Along with word puzzle games, Gates also plays&nbsp;Nerdle, an equation guessing game that uses digits 1 through 9 and operators (+, -, x and /). Like Worlde, you get six guesses and tiles show if they are correct,&nbsp;or correct but in a different location.
"As a math-oriented person, I'm probably better at Nerdle than the word-related versions, though I don't have as many friends and family members who like to do it."
Gates said he usually gets Nerdle in three or four guesses.
"It's a lot of fun."
"I like to start with a word that contains lots of vowels, like Audio or Ounce. Adieu&nbsp;is a good one too," Gates said.
Gates added it&#8217;s important to learn patterns and know which consonants can pair well next to each other.
"I like to look for C and H, for example, or S and L. Then the consonants that are almost never paired with others —&nbsp;like Q, V, X, and Z —&nbsp;really jump out."
"There's a lot of strategy in it. You always want to be gaining as much new information."
While some words can start with vowels, Gates liked&nbsp;to use vowels in the second and fourth positions when he has two vowels.
Words that have no vowels can be tricky, like Tryst, a word that Gates said he only got until he realized it had to have a Y.
One of the cardinal rules of Wordle according to Gates is&nbsp;that "letters can be used more than once." Gates lost on the word Tasty after having the final four letters correct but guessed Pasty&nbsp;instead of Tasty on his final guess.
The hardest part of the game is when you have four of the five letters but there are multiple potential answers, Gates added. Gates cited &#8220;ight&#8221; as an example with potential answers being Light,&nbsp;Tight, Fight, Sight&nbsp;and Right. Gates said&nbsp;a bit of luck is needed to get the guess right before running out of turns.
Gates liked&nbsp;the practice modes that allow multiple puzzles and the chance to waste time.
"I'm the kind of person who will play an addictive game over and over if I give myself the chance," he noted.
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This article was previously published by Benzinga and has been updated.
Photo: Shutterstock

Entertainment

Gaming

Bill Gates's Go-To Wordle Starter: The 4-Vowel Secret You Need

In the face of President Donald Trump&#8216;s tariff threats, investors have propelled stocks to new heights this past week. However, the forthcoming earnings season could bring the trade war back into the spotlight.
What Happened: Robust corporate profits have enabled the S&amp;P 500 to bounce back from the turbulence of April, resulting in a 6.4% surge this year. 
The index has achieved new records, despite the White House&#8217;s tariff threats on goods from multiple trade partners, including Brazil and Canada.
As per a report <a href="https://www.wsj.com/finance/stocks/earnings-stock-market-records-trade-bfd8f8c3?mod=hp_lead_pos1">by </a>The Wall Street Journal, investors are now seeking clarity from corporate leaders on how the trade disputes have affected their operations. 
There are fears that the trade war could damage economic growth and corporate profits, particularly when stocks already seem overpriced compared to historical standards.
In the upcoming week, investors will closely examine results from banks such as JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), as well as BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), the world&#8217;s largest asset manager. 
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46383071/poll-trumps-trade-policies-stir-doubts-among-supporters">Poll: Trump&#8217;s Trade Policies Stir Doubts Among Supporters</a>
Analysts are forecasting a 4.8% increase in S&amp;P 500 companies&#8217; profits for the second quarter, which would be the lowest year-over-year growth since 2023.
Analysts will also scrutinize&nbsp;earnings and executive commentary for&nbsp;insights into&nbsp;the health of U.S. consumers&nbsp;and their capacity to withstand tariff-related price hikes. Some U.S. companies have retracted or reduced their outlook for the remainder of the year due to the uncertainty created by the tariff situation.
Why It Matters: The ongoing trade disputes and tariff threats have been a significant concern for investors and businesses alike. The upcoming earnings season will provide critical insights into the impact of these trade tensions on corporate profits and the broader economy. 
The results and commentary from leading companies will also shed light on the resilience of U.S. consumers in the face of tariff-related price increases. 
The performance of these companies could potentially set the tone for the market in the coming months.
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Earnings Season Tests Market Records as Investors Brush Off Trump's Tariff Threats

Wall Street watched history unfold as Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) became the first company to hit a $4 trillion market cap, capping off a week of <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/07/46321541/nvidia-hits-4-trillion-market-cap-stock-surges-to-all-time-high" rel="noreferrer noopener">market-moving headlines.</a>
In a surprising diplomatic turn, U.S. Secretary of State Marco Rubio called recent talks with Chinese Foreign Minister Wang Yi &#8220;constructive,&#8221; stoking speculation of a Trump–Xi summit possibly <a target="_blank" href="https://www.benzinga.com/news/politics/25/07/46365654/xi-jinping-could-meet-trump-this-year-marco-rubio-says-after-very-constructive-talks-with-wang-yi-the-odds-are-high" rel="noreferrer noopener">taking place later this year.</a>
But optimism met friction as President Donald Trump announced that the United States will impose a&nbsp;50% tariff on all copper&nbsp;imports <a target="_blank" href="https://www.benzinga.com/markets/commodities/25/07/46339702/trumps-copper-tariff-echoes-through-global-mining-tunnels" rel="noreferrer noopener">starting August 1.</a>
Also Read: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46301947/defense-stocks-goldman-tax-bill-pentangon-spending" target="_blank" rel="noreferrer noopener">Pentagon&#8217;s $156-Billion Payday—These Defense Stocks Are Ready For Liftoff</a>
The decision threatens to disrupt a global supply chain for one of the key inputs for the American industry and a crucial commodity for the green technology transition.
That move, paired with a sweeping 25% tariff on goods from Japan and other Asian countries starting August 1, reignited fears of <a target="_blank" href="https://www.benzinga.com/markets/asia/25/07/46285151/trump-tariffs-japan-yen-etfs-market-reaction" rel="noreferrer noopener">escalating trade tensions.</a>
Amid the macroeconomic jitters and geopolitical headlines, several companies delivered key corporate updates that&nbsp;<a target="_blank" href="https://www.benzinga.com/markets" rel="noreferrer noopener">kept investors tuned in</a>.
Technology
Nvidia Corporation became the first company ever to reach a $4 trillion <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46326271/nvidia-breaks-4-trillion-barrier-benzinga-poll-predicted-it-first" rel="noreferrer noopener">market capitalization on Wednesday.</a>
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has filed an appeal against the €500 million ($586 million) fine imposed by the European Union (EU) over alleged anti-competitive<a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46290524/apple-fights-back-against-eus-586-million-fine-says-penalty-far-beyond-what-the-law-requires" rel="noreferrer noopener"> practices on its App Store</a>.
The iPhone maker is expected to join the growing list of smartphone companies&nbsp;with foldable smartphones&nbsp;with a new iPhone Fold<a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46356024/apples-foldable-iphone-could-land-in-2026-and-leave-samsung-playing-catch-up" rel="noreferrer noopener"> expected to launch next year.</a>
Apple&#8217;s massive $60+ billion cash pile is once again&nbsp;in the spotlight&nbsp;– and with rivals&nbsp;racing ahead in AI, investors are wondering: is it finally time for <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46348639/apple-acquisition-buzz-60-billion-cash-reserve" rel="noreferrer noopener">Apple to make a bold move?</a>
Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) announced that it has separated its&nbsp;AI, robotics and biometric business into&nbsp;RealSense,&nbsp;an independent company. Intel also announced that RealSense has secured<a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46372526/intel-unleashes-realsense-new-ai-robotics-player-scores-huge-investment" rel="noreferrer noopener">&nbsp;$50 million in Series A funding</a>.
Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has reportedly acquired a&nbsp;minority stake&nbsp;in&nbsp;EssilorLuxottica, the French-Italian eyewear giant<a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46311405/mark-zuckerberg-led-meta-acquires-nearly-3-of-ray-ban-oakley-parent-essilorluxottica-in-3-5-billion-deal-report" rel="noreferrer noopener"> behind brands such as&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46311405/mark-zuckerberg-led-meta-acquires-nearly-3-of-ray-ban-oakley-parent-essilorluxottica-in-3-5-billion-deal-report" rel="noreferrer noopener">Ray-Ban</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46311405/mark-zuckerberg-led-meta-acquires-nearly-3-of-ray-ban-oakley-parent-essilorluxottica-in-3-5-billion-deal-report" rel="noreferrer noopener">&nbsp;and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46311405/mark-zuckerberg-led-meta-acquires-nearly-3-of-ray-ban-oakley-parent-essilorluxottica-in-3-5-billion-deal-report" rel="noreferrer noopener">Oakley.</a>
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;reels from sweeping layoffs affecting&nbsp;9,100 employees, an&nbsp;Xbox&nbsp;executive&#8217;s suggestion to use AI chatbots for emotional support <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46268037/after-microsoft-lays-off-9100-workers-xbox-executive-tells-fired-workers-to-turn-to-ai-for-mental-health-help" rel="noreferrer noopener">has ignited fierce backlash online.</a>
MicroAlgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) announced the development of a&nbsp;Grover-based quantum algorithm technology designed to find <a target="_blank" href="https://www.benzinga.com/markets/equities/25/07/46337681/microalgo-stock-rises-3-pre-market-on-quantum-algorithm-breakthrough" rel="noreferrer noopener">pure Nash equilibria in graphical games.</a>
ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>)&nbsp;has&nbsp;adjusted its inclusion&nbsp;and diversity targets in the U.S. to align with new regulations from <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46363788/asml-drops-us-diversity-goals-under-trumps-watch" rel="noreferrer noopener">the Trump administration.</a>
Artificial Intelligence
Elon Musk&#8217;s artificial intelligence startup&nbsp;xAI&nbsp;has launched Grok 4, positioning it as the world&#8217;s most powerful AI model according to benchmarks that show it outperforming&nbsp;OpenAI&#8217;s&nbsp;ChatGPT,&nbsp;Google&#8217;s&nbsp;Gemini, <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46335602/elon-musk-s-xai-launches-grok-4-with-phd-level-ai-debuts-in-300-month-supergrok-tier" rel="noreferrer noopener">and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46335602/elon-musk-s-xai-launches-grok-4-with-phd-level-ai-debuts-in-300-month-supergrok-tier" rel="noreferrer noopener">Anthropic&#8217;s</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46335602/elon-musk-s-xai-launches-grok-4-with-phd-level-ai-debuts-in-300-month-supergrok-tier" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46335602/elon-musk-s-xai-launches-grok-4-with-phd-level-ai-debuts-in-300-month-supergrok-tier" rel="noreferrer noopener">Claude</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46335602/elon-musk-s-xai-launches-grok-4-with-phd-level-ai-debuts-in-300-month-supergrok-tier" rel="noreferrer noopener">.</a>
OpenAI&nbsp;has finally completed its&nbsp;$6.5 billion acquisition&nbsp;of&nbsp;Jony Ive&#8217;s&nbsp;AI hardware startup&nbsp;io Products, officially bringing the former&nbsp;Apple&nbsp;design chief and his team into the fold to build a new generation of<a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46335969/openai-finalizes-6-5-billion-deal-to-acquire-jony-ives-ai-hardware-startup-heres-what-we-know-about-their-first-device" rel="noreferrer noopener"> AI-native devices.</a>
Automobiles
Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)&nbsp;has announced a&nbsp;<a target="_blank" href="https://static.nhtsa.gov/odi/rcl/2025/RCLRPT-25V455-7716.pdf" rel="noreferrer noopener">recall</a>&nbsp;of more than 850,000 vehicles in the U.S. due to a faulty fuel system component that may cause <a target="_blank" href="https://www.benzinga.com/markets/large-cap/25/07/46338449/ford-recalls-over-850000-vehicles-due-to-stalling-engines" rel="noreferrer noopener">engines to stall while driving.</a>
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;has announced November 6 as the date for the company&#8217;s annual shareholder meeting amid mounting pressure from investors who are concerned about&nbsp;Elon Musk&#8217;s political ambitions and <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46359669/teslas-annual-shareholder-meeting-set-for-november-6th-dan-ives-says-elon-musks-pay-package-in-the-spotlight" rel="noreferrer noopener">mounting tensions with President&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46359669/teslas-annual-shareholder-meeting-set-for-november-6th-dan-ives-says-elon-musks-pay-package-in-the-spotlight" rel="noreferrer noopener">Donald Trump</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46359669/teslas-annual-shareholder-meeting-set-for-november-6th-dan-ives-says-elon-musks-pay-package-in-the-spotlight" rel="noreferrer noopener">.</a>
Tesla will expand the company&#8217;s Robotaxi service to Phoenix, Arizona, as the <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46361254/elon-musks-robotaxi-push-expands-to-phoenix-as-tesla-seeks-arizona-approval" rel="noreferrer noopener">Robotaxi race in the U.S. heats up.</a>
Nissan Motor Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>)&nbsp;has reportedly opened negotiations with&nbsp;Honda Motor Company, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>)&nbsp;to produce vehicles for its rival at a U.S. factory. Both companies seek ways to blunt the impact of upcoming<a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46363159/tariff-troubles-drive-nissan-honda-to-u-s-manufacturing-talks-report" rel="noreferrer noopener"> U.S. tariffs on Japanese-made autos.</a>
XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)&nbsp;officially opened orders&nbsp;in Europe on Friday for its fully revamped G6 Ultra Smart Coupe SUV and G9 Ultra Smart Premium SUV, marking its latest move <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46362384/xpeng-brings-ultra-smart-ultra-fast-evs-to-europe" rel="noreferrer noopener">towards AI-driven electric mobility.</a>
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Consumer Tech News (July 7–July 11): Nvidia Hits $4 Trillion, Japan Tariffs Rattle Markets, Hopes Rise For Trump–Xi Summit

Warren Buffett is worth over $140 billion. He could buy a new car for every day of the year — heck, for every hour — and still have plenty left for ice cream and insurance. But instead of cruising around in a luxury supercar, he's been rolling in a 2014 Cadillac XTS… with hail damage.
Everyone knows Buffett isn't flashy. His frugality is legendary. He still lives in the same Omaha home he <a href="https://www.benzinga.com/personal-finance/25/02/43612207/warren-buffett-has-lived-in-his-31500-home-for-67-years-and-calls-it-one-of-his-best-investments-but-warned-a-house-can-be-a-nightmare">bought for $31,500 in 1958</a>. And when it comes to cars, his approach is just as practical.
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Back in 2001, at the <a href="https://buffett.cnbc.com/video/2001/04/28/afternoon-session---2001-berkshire-hathaway-annual-meeting.html">Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, BRK.B)) annual meeting</a>, Buffett explained how he chose his car based not on style or horsepower, but safety. "Actually, I picked out the car I have based on the fact that it had airbags on both sides," he said. "It's both heavy and has airbags, and those are two primary factors in safety. I don't think a safer car is necessarily being made."
By 2014, it was time for an upgrade — or so his daughter decided. Buffett <a href="https://time.com/3002836/warren-buffet-cadillac-mary-barra/">sent Susie to the dealership</a> to negotiate the price. In a <a href="https://youtu.be/w-eX4sZi-Zs?si=v5rN6S0PkcrlsVE-">BBC documentary</a>, she revealed he didn't just keep cars forever — he bought ones with hail damage to save a few bucks. "You've got to understand, he keeps cars until I tell him, ‘This is getting embarrassing — time for a new car,'" she said. The 2006 Cadillac DTS he finally let go? It had barely 19,000 miles after eight years.
In an <a href="https://www.forbes.com/sites/joannmuller/2014/07/15/warren-buffett-shares-the-inside-scoop-he-bought-a-cadillac-not-a-subaru/">interview with Forbes</a>, Buffett justified his minimal car use, saying: "The truth is, I only drive about 3,500 miles a year, so I will buy a new car very infrequently." The 2014 Cadillac reportedly cost around $45,000 — a drop in the bucket for someone whose daily stock moves can dwarf that figure by the second.
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>
And in case you're thinking, "Well yeah, he's just quirky like that," Buffett's habits line up with a growing national trend. According to <a href="https://www.spglobal.com/mobility/en/research-analysis/average-age-vehicles-united-states-2024.html">S&amp;P Global Mobility</a>, the average vehicle on U.S. roads is now 12.6 years old — the oldest on record. People are holding onto their cars longer due to rising new car prices, higher interest rates, and, like Buffett, just not seeing the need to upgrade.
What about the dealership hassle? Buffett addressed that too. He's famously said that buying a new car is a "half-day" commitment, and "that's just a half-day I don't want to give up in my life for no benefit." If he could just write a check in 30 seconds and skip the rest, he'd be fine—but he'd rather preserve his time and skip the dealership dance.&nbsp;&nbsp;
Buffett's car-buying philosophy is simple: If it works, why replace it? It's not just about saving money — it's about cutting down on hassle. Even as one of the richest men in the world, he's not interested in spending time at a dealership or test-driving every new model that drops.
That's the Buffett way — wealth with restraint, comfort over flash, and a healthy dose of "Why bother?" when it <a href="https://www.benzinga.com/personal-finance/25/03/44367634/bill-gates-says-hes-not-an-overly-frugal-billionaire-but-by-his-grandmothers-standards-hes-crazy-for-tossing-gift-bags-and-wrapping-paper">comes to consumer excess</a>.
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Billionaire Warren Buffett Drives A 2014 Cadillac With Hail Damage — And Only Upgrades When His Daughter Says 'This Is Getting Embarrassing'

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