šŸ†šŸ¤–Bill Gates Falls...

Earth (Currently) Has Two Moons, These Market Movements Are Insane!, and more...

THE PROFITSšŸ’ø

Good morning Opportunists. Get ready for a whirlwind of news! This week, we’re diving into the surprising drop of Bill Gates on the Forbes list, the thrilling cosmic twist of Earth now having two moons, and the wild ride that the market is taking us on. Buckle up.

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Bill Gates Falls…

Bill Gates, co-founder of Microsoft and once a staple on the Forbes 400 list, has hit his lowest ranking in nearly 25 years, now sitting at ninth place with a net worth of $107 billion after a $4 billion drop from last year. This decline follows his 2021 divorce from Melinda French Gates, who has seen her wealth soar to $29 billion, thanks to a substantial settlement and additional philanthropic funding from Gates, highlighting his commitment to giving away his fortune for charitable causes.

Sony Music Buys Pink Floyd Rights and Recorded Music

After years of drama, the legendary British rock band Pink Floyd has officially sold their recorded music and likeness rights to Sony Music for about $400 million, despite decades of disputes among members, particularly between songwriters Roger Waters and David Gilmour. This landmark deal, which includes their iconic catalog but not the songwriting rights, reflects the immense value of classic albums like ā€œDark Side of the Moonā€ and ā€œThe Wall,ā€ though it comes amid controversy over Waters' contentious political views that have complicated past negotiations.

These Market Movements Are Insane!

Nvidia, once the star performer of the S&P 500, has been outshone by Vistra, whose stock soared 259.3% this year, alongside other impressive gains from Constellation Energy and Palantir Technologies. While Nvidia remains a heavyweight in AI, with shares up 152.25% in 2024, it’s facing stiff competition from powerhouses tapping into the energy needs of the AI boom, making the market more dynamic than ever.

Science and Technology

OpenAI’s New Feature is Good for Business Automation: OpenAI has rolled out a new feature called Canvas, turning ChatGPT into your collaborative writing and coding partner by allowing you to edit and refine specific parts of your text or code on a separate, shared page. Instead of rewriting prompts, you can highlight sections and ask for targeted changes, whether that means making your business header more formal or debugging your code—making it a game-changer for anyone looking to enhance their projects efficiently!

Earth (Currently) Has Two Moons: Earth has officially gained a temporary mini-moon, the tiny asteroid 2024 PT5, which was captured by our planet’s gravity on September 29 and will stick around until November 25. While this little space rock is far too small to see with the naked eye—at just 37 feet wide compared to our moon’s 2,159 miles—it offers scientists a unique opportunity to study near-Earth objects and learn more about our cosmic neighborhood!

Business & Markets

Economy News: Yields on two and 10-year U.S. Treasuries are creeping back toward 4%, a level last seen in August, after a surprisingly strong jobs report had traders reevaluating interest rate forecasts. This bond selloff has raised doubts about the Federal Reserve’s next moves, with significant rate cuts now less likely, causing market strategists to rethink their predictions as the economic landscape continues to shift dramatically.

Oil and Gas: Shell Plc is riding high on solid performances from its natural gas and upstream businesses in the third quarter, even as oil-refining margins took a hit and the chemicals sector is expected to face losses. With European gas prices jumping 13% amidst a volatile market, Shell's shares edged up 0.7% in early London trading, as analysts predict positive upgrades for its upstream and integrated gas operations.

Tesla Reveals: Get ready for a thrilling Thursday, as Tesla gears up to unveil its self-driving "robotaxi," potentially revealing everything from pricing details to a ride-sharing app dubbed ā€œCybercab.ā€ Meanwhile, chip giant AMD will also take the stage at its ā€œAdvancing AIā€ event, with CEO Lisa Su set to share exciting updates about the company’s latest AI innovations!

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