Money, Wealth & Power—A Daily Look at the Financial World
Google cofounder Sergey Brin has been linked to a $42 million mansion on the Nevada side of Lake Tahoe, a purchase that lands just outside the reach of California’s proposed “billionaire tax” on extreme wealth. The timing of that deal, alongside other moves by Brin and fellow Google cofounder Larry Page, has turned a luxury…
Ford’s latest sales mix shows just how stubborn American car buyers can be. In January, the company sold more than twice as many gasoline Mustangs as it did all of its electric vehicles combined, underscoring how far traditional performance coupes still outrun battery-powered models in the showroom. The result lands at a moment when the…
Treasury Secretary Scott Bessent is trying to rewrite how Washington thinks about paying for the federal government, shifting the focus from taxes and borrowing toward asset-building and market gains. His signature “Trump Accounts” proposal, paired with a broader 3-3-3 economic strategy and a push to treat strategic resources and even digital assets as national wealth,…
Ford is weighing a radical fix for its struggling European electric vehicle business: letting a Chinese rival build cars inside one of its own factories to blunt the impact of punishing trade barriers. The talks with Zhejiang Geely Holding Group Co would turn an underused Ford plant into a production hub for Chinese-branded EVs, effectively…
President Donald Trump has spent the past year trying to turn the federal research budget into a political battlefield, targeting everything from basic biomedical science to climate and technology programs. Instead of capitulating, judges and lawmakers have drawn unusually bright lines, signaling that science funding is not as easy to weaponize as the White House…
Bitcoin’s latest slide has revived one of the market’s most unsettling voices. Michael Burry, the American hedge fund manager made famous by “The Big Short,” is warning that the current downturn could unleash what he calls “sickening scenarios” across crypto and even traditional safe havens like gold and silver. His argument is not just that…
President Donald Trump came back into office promising that this time he would not just slow coal’s decline but reverse it, using federal power to keep aging plants running and mines open. Instead, his rescue plan is colliding with a new source of resistance: coal executives and utility allies who say Washington is forcing them…
The billionaire investor Ken Griffin is sounding an alarm that used to be unthinkable on Wall Street: the U.S. dollar, long treated as untouchable, is starting to lose some of its glow. As the greenback trades near multi‑year lows and global investors quietly rebalance away from U.S. assets, his warning is less about a sudden…
America’s consumer economy is splitting in two. At the top, affluent households are booking more trips, upgrading homes and filling high‑end restaurants. For everyone else, the story is about cutting back, stretching paychecks and hoping the next bill does not tip the budget over the edge. The result is a recovery that looks strong from…
Kevin Warsh has quickly become the consensus choice of many prominent economists to lead the Federal Reserve, a rare moment of elite agreement in a polarized economic debate. Yet the real measure of his tenure will not be the praise he is receiving today, but how he navigates a looming collision of high inflation, political…