Forbes Daily Briefing

After a volatile April for U.S. stocks, a guide to which of the world's top ten richest came out ahead–and whose fortunes fell. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Elissa Butterfield spent years of her life responding to Elon Musk's ever-shifting demands. Now she's investing in his companies. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Surrounded by loyalists, Donald Trump knows the old rules no longer apply to him. He's taking full advantage, implementing ideas he has held for decades. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

These small businesses were lucky enough to snag deals on Shark Tank. Tariffs will upend their businesses and suddenly they're scrambling to survive. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hamdi Ulukaya has also committed another $500 million to expanding his operation in Idaho—and says he is just getting started. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Elon Musk is dialing down his DOGE role that triggered protests and vandalism at Tesla stores. But its EV business needs a hit product and none is on the horizon. And the company's booming battery business, a Q1 bright spot, will suffer from Trump's tariffs. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The defense secretary once claimed the root of diversity, equity and inclusion is a “Marxist philosophy.” His very-capitalist deputy, billionaire Steve Feinberg, happens to be one of its largest funders. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Meet the little-known car dealership billionaire, and potential future politician, who's quietly building an empire with the college football great. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

MP Materials, operator of the Mountain Pass mine in California's Mojave Desert, is ramping up supplies of the critical ingredients and magnets used in autos, electronics and military hardware as China tightens exports. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Going where Elon goes – in politics, and in business – has been Kimbal's modus operandi for decades. And it's made him very rich. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

James Kim's Los Angeles-based cannabis company grew from a scrappy startup in 2017 to a legal unicorn worth $1.5 billion. Allegations of black-market activity and lawsuits be damned—Stiiizy aims to be the Nike of cannabis. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Justine Musk, Elon Musk's first wife and the mother of six of his children, asked for stakes in Tesla and SpaceX when they got divorced. Musk made sure she got no shares. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Every 420, the high holiday for marijuana lovers, is a reason to examine the state of the $32 billion cannabis industry. Here are the pot pioneers blazing a path forward in 2025. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The fast-food juggernaut sold a whole lot of chicken last year, according to financials obtained by Forbes. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Pentagon leaders are calling for thousands of drones to prepare for war in the Pacific. But as Trump's tariffs escalate tensions with China, they face an uncomfortable reality: Silicon Valley's drone companies are addicted to Chinese components. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Despite leaving years ago, Scale AI's 30-year-old cofounder has become the youngest self-made woman billionaire in the world by holding onto her stake in the company. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

More than three decades after Steve Ells opened the first Chipotle, he's the first-ever burrito billionaire. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Elon Musk's polygonal pickup is a polarizing sales flop that's missed the billionaire's volume goal by a staggering 84%. And there's no sign that things are improving. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Justin Sun loves a publicity stunt. But in bailing out Donald Trump's crypto venture—netting the president and his family $400 million—Sun has boosted his efforts to create a global payment system, using his Tron platform, with 300 million users and counting. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With Elon Musk's attention divided among his many companies, Shotwell has been the constant presence ensuring that the rocket maker delivers on its ambitious plans. She's profiting handsomely, Forbes reveals. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Forbes removed the Kingdom's billionaires from our ranking of the world's wealthiest people in 2018, but they're back now. Here's what happened and why. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Fourteen generations of the Beretta family sold firearms. Here's why the head of the 15th is moving beyond, adding bullets, scopes and even clothing. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A Boston-area native and Ivy League soccer player who grew up a Celtics fan, William Chisholm has spent more than two decades working out of the limelight, buying and selling software firms—and making a killing. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Distributed Spectrum has developed tiny AI-powered sensors to help the U.S. military locate enemy troops and drones by their radio emissions. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

MLB's top 10 earners will haul in $576 million combined this season, led by the sport's first two $100 million men in Mets signing Juan Soto and Dodgers star Shohei Ohtani. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The EV company's sales are tanking in all major markets as its Chinese rivals are surging. But Tesla's problems are just beginning. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The company known for its festive fruit baskets just launched a new website for hemp-derived, THC-infused beverages and gummies. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cybersecurity and Infrastructure Security Agency (CISA) staff tell Forbes they're stunned by the leak, amid calls for heads to roll. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Over the past three years, Gianluigi Aponte's shipping company has spent more than $40 billion investing in everything from ships and ports to hospitals and high-speed rail—and that was before teaming up with BlackRock to buy 43 ports from Hong Kong billionaire Li Ka-Shing's conglomerate. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Lee Shau Kee was among the first generation of entrepreneurs in Hong Kong who started making a fortune from property development between the 60s and 70s. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The electric car company is struggling as anti-Musk sentiment sparks boycotts and protests. It's not likely to happen, but who could step in if he relinquished the “TechnoKing” CEO reins? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Inside the C-Suite 16—a group of ultra-rich fans using their combined net worth of $357 billion to bankroll the schools in the 2025 NCAA men's basketball tournament. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The new Geographic Targeting Order requires money services businesses (MSBs) located in 30 ZIP codes across California and Texas to file Currency Transaction Reports with FinCEN at a $200 threshold for cash transactions. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

America's newest attorney general can thank rising Florida real estate values, a few years of lobbying and a wealthy husband for her increasing fortune. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The EV maker has been the single biggest part of his ever expanding fortune for years. No more, as Tesla's stock comes crashing down. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In a rush to get Colossus up and running, Musk's AI company is relying on the same environmentally unfriendly, natural gas-powered turbines used to restore power in natural disasters. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Scale AI cofounder's second startup Passes banned creators under 18 ahead of being sued for allegedly hosting child sexual abuse material, which Guo has denied. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Expectations were that billionaires would be the big winners in a Trump America 2.0. Instead, their fortunes have plummeted in the first eight weeks. Here are the biggest losers. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

College administrators, often oblivious to economic realities, have spent more than a decade fretting about looming enrollment declines. Trump's slash and burn approach to education and federal spending could hasten the demise of many teetering schools. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The private equity firm hasn't had an exit yet, but investors are so eager to get into the NWSL and other surging leagues that its founders have secured an additional $100 million for their war chest. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Will Trump's tariffs and his assault on the federal government lead to a deeper crash, or even a recession? Market experts advise long-term investors and 401(k) holders to sit tight. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Startup Tomorrow.io has built a constellation of weather satellites to feed data to its AI-powered forecasts customized for its business customers. Can it fill the gap left behind by DOGE's cuts to the National Weather Service? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cofounder Justin Mares is fired up about creating new nutrient-rich products for the Make America Healthy Again era. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Elon Musk claims the carmaker will someday be the most valuable AI company in the world thanks to the reams of video data collected by its cars. Does all that data really give the company a competitive advantage? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

As AI models get more complex, so do the tasks carried out by humans to train them. It's given $14 billion Scale AI a new focus on U.S.-based labor. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

New Orleans-based Liberty Bank And Trust took 50 years to surpass $1 billion in assets under its founding CEO Alden McDonald, Jr. Now it needs to convince a new generation to buy into its mission of growing to $10 billion. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BondIt Media Capital has spent more than $400 million to help produce hundreds of schlocky movies over the past decade. Now its founders are ready to take bigger risks and reap bigger rewards. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

For top-earning stars like Dwayne Johnson and Ryan Reynolds, appearing in movies is one of many ways they reel in their out-sized paydays. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Kuok Meng Wei, whose grandfather was once called the world's shrewdest businessman by Forbes, is leading his family into what the 41-year-old describes as the hottest industry in decades. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

True Link Financial offers a debit card with spending controls expressly designed for people with dementia, other cognitive deficits or addiction issues. It also manages special needs trusts. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Google cofounder has already donated more than $1.5 billion to Parkinson's research. Now, as he takes on autism, he's also investing in venture funds and startups working to develop therapies and treatments. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.