Forbes Daily Briefing

Bob Rich's frozen food business was so successful that he bought the first naming rights to an NFL Stadium in 1973. With the Buffalo Bills' home set to be demolished after this season, his son, Bob Jr. looks back on the cold realities of running a $5.8 billion family business. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Donald Trump “knew about the girls” and “spent hours” with one of Jeffrey Epstein's victims at the financier's home, Epstein alleged in one of many newly released emails between 2011 and 2019 —which the White House blasts as all part of the Epstein “hoax”—the latest documentation of a connection between the two men that stretches back decades. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

From an AI-fueled stock rally to record-high gold, the signs are stacking up that nearly every asset class is due for a reckoning. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Some back-of-napkin math suggests OpenAI is spending more than a quarter of what it's making to power its AI slop factory. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Donald and Stefan Brodie built a resin manufacturing business, then sold it for billions, but are still dogged by a criminal conviction over two decades ago. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The latest departures, days after shareholders backed Elon Musk's $1 trillion pay package, follow the loss of top sales, battery, robotics and chip executives this year. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

OpenAI has gone wild with compute deals this year, committing to spend far more than its balance sheet can currently sustain. So who takes the fall if it can't pay? It won't be Altman. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Big funds, advisory firms and the Pope opposed the exorbitant plan. Approval means shareholders think the polarizing, distracted CEO can top past successes with a risky AI-powered strategy. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Russell Vought's dismantling of the Consumer Financial Protection Bureau is putting the public at risk in areas ranging from auto loans and digital payments to credit cards and credit reports. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The company behind the world's fourth largest crypto is reinventing itself as a conglomerate. Two of Wall Street's savviest firms, Fortress and Citadel Securities, are backing it. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Startup Leo Cancer Care is transforming proton radiation treatment with a simple idea: having patients sit up instead of lying down. Now hospitals that include Stanford and McLaren are lining up to buy dozens of machines. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Strong ad sales have propelled Steve Huffman into the billionaire ranks. Now he's charting a new course, aiming to become invaluable to AI companies. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Six of the ten richest people on the planet saw their rankings rise or fall on the Forbes billionaires list in a wild October for the world's wealthiest. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

At least 26 billionaires have spent millions trying to stop Mamdani from becoming New York's next mayor on Tuesday. More surprising are the two billionaires who stepped up to support the frontrunner. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With a new $10 billion valuation for their AI recruiting startup Mercor, the founders have become the youngest self-made tech billionaires ever, beating out Mark Zuckerberg who debuted at age 23 two decades ago. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Explosive growth in AI investments is fueling Wall Street's biggest rally in years. Forbes' expert contributors explore whether investors are riding a rising wave or risking an AI wipeout. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Expect some surprises when Open Enrollment for health care coverage through the ACA Marketplaces begins. Premiums are going up and the enhanced premium tax credits that help Americans afford health care coverage are scheduled to expire. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The crash of the NFT market led OpenSea to fire more than half of its staff. But the startup has reinvented itself into a place for buying and selling all tokens, including memecoins, and trading volume is surging once again. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

After the company's majority owners offered to buyout the minority shareholders in a deal valuing the LGBTQ dating app at $3.5 billion, its stock surged over 18% last week. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

From the wealthiest owners to groundbreaking players to innovative executives, meet the sports world's 25 most dynamic game-changers. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The president has already made hundreds of millions abroad, much of it stemming from a single Middle Eastern nation. His most lucrative foreign deal may be about to begin. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Fanjul family has been wooing politicians for decades, but their bet on the Trump administration is their best yet, after the president added tariffs for foreign competitors and pushed Coca-Cola to use its cane sugar to make American soda great again. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Mamdani says billionaires shouldn't exist. Some of them have put their fortunes to work trying to stop him from leading America's largest city. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Pro basketball's 30 franchises are all soaring high above the rim—worth $5.4 billion on average, thanks to record sales of the Lakers and Celtics—but no one is scoring quite like one $11 billion team. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Daniel Ek, the billionaire founder of the $150 billion music streamer, is exiting Spotify's top role as he is increasingly backing moonshot tech companies out to solve the world's toughest problems. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Swedish carmaker isn't a giant by sales, but Chief Sustainability Officer Vanessa Butani wants it to be a circular business leader with aggressive reuse of metals, batteries and other materials and climate-neutral auto-assembly plants. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Since launching six years ago, Tom's Watch Bar has grown to 18 locations by catering to fans on their way into or out of stadiums—with dozens more on the way. Welcome to the best seat not in the house. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The exact lineup of investors is still under wraps but the network of players is in some cases nearly half a century in the making. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With climate funding under threat, Wendy Schmidt is becoming an increasingly vital philanthropist—supporting deep-sea discovery, public media, and scientific collaboration across the globe. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Eric Skae ran the best-selling pasta sauce business for the legendary Rao's restaurant until the company was sold. Now as the CEO of Carbone Fine Food, he's done it again—building a $100 million competitor and a simmering rivalry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nuclear power startup Oklo is now worth $21 billion. Its relationships with the Secretary of Energy Chris Wright and OpenAI CEO Sam Altman have certainly helped. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump just had the most lucrative year of his life. But percentage-wise, members of his immediate family, including sons Eric, Don Jr. and Barron, did even better. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Elon Musk keeps hyping the AI-enabled software, and getting more people to buy it is key to his massive new pay package. But in a recent test, it ignored standard street signs and even a flashing school bus stop sign — squashing mannequin child “Timmy.” See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Pongsakorn Pongsak built IF into China's top coconut water brand—and a $700 million fortune—by bottling Thailand's tropical taste. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Clemens Fischer has never smoked pot in his life, but he believes his new experimental drug could reap billions in sales—and change millions of lives. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Razer, founded and run by Min-Liang Tan for two decades, is prepping to release cutting-edge AI tools to help game developers produce games faster and cheaper and to coach players to sharpen their skills. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Microsoft cofounder, who reigned for nearly a quarter century as America's richest person, no longer makes the very top of this year's ranking of the country's wealthiest people. Here's why. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Jim Irsay's daughters have inherited an NFL team that has been in their family for 53 years and is now worth $5.9 billion—making them among the richest female owners in sports. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

These colleges—spread from Pennsylvania to Kentucky to Michigan—discount their listed cost of attendance by at least 50% for all, or nearly all, students. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

An alum of Google, Facebook and Twitter, Edwin Chen built his data labeling company, Surge, in the background of the AI revolution. Now the youngest member of the Forbes 400 is ready to step out of the shadows and make his voice heard. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Donald Trump lost money during his first term. Out of office, he found a formula for profiting off politics—now he's piling up billions. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Mercor, debuting on the Forbes Cloud 100 list, built an AI recruiter to interview job candidates. Along the way, it discovered a more immediate cash cow: finding humans to train AI models. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Dick Portillo opened a hot dog stand in Chicago with $1,100 and built it into a billion-dollar regional chain, Portillo's. After cashing out in 2014, he bought back some stores and built a new real estate and restaurant empire—now, he sits back and collects the rent. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With more than 80,000 AI-powered cameras across the U.S., Flock Safety has become one of cops' go-to surveillance tools and a $7.5 billion business. Now CEO Garrett Langley has both police tech giant Axon and Chinese drone maker DJI in his sights on the way to his noble (if Sisyphean) goal: Preventing all crime in the U.S. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nathan Xu's bootstrapped company has sold more than 1 million AI recording devices that transcribe and summarize the busy days of doctors, lawyers and business people — and he's 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.

When it comes to selling coconut water to the health obsessed, New York's Vita Coco has served up a master class, schooling even giant rivals like Coke and Pepsi. Its next test will be withstanding Trump's tariff shocks. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

For most of the last 50 years, new homes have cost more than existing ones, nationally. Thanks to builder strategies, shifting home designs and a new construction glut, the trend has flipped. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Football's 32 clubs are worth $7.1 billion on average, a 25% year-over-year jump, but the Dallas Cowboys sit tall in the saddle with a record valuation for any sports franchise. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In 2000, internet darling Cisco was the world's most valuable company. Today it's worth half as much. AI juggernauts like Nvidia and Palantir are driving the tech-bloated S&P 500 today. Buyer beware. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. government will take a 10% stake in the company, whose technology has been used by sanctioned Chinese surveillance and facial recognition firms including Uniview and Hikvision. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Congress and the FDA are pushing pharmaceutical companies to replace animals with technology for drug research. That's a long way off, but startups and industry stalwarts are working to make it happen. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.