🏆🤖Elon Musk’s $1 Million Promise

THE PROFITS💸

Good morning Opportunists. Todays briefs in money news. First, Elon Musk is making waves with his million-dollar-a-day giveaway leading up to the election. Next, we explore why starting a business at 50 isn’t just possible, it’s necessary in today’s fast-paced world, where experience and clarity are your greatest assets. Lastly, we unpack the latest developments surrounding U.S. scrutiny of Chinese military-linked companies and what it could mean for global business. Stay tuned for all this and more!

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Trending in Financial News

How to Cash in on AI

Artificial intelligence is more than just a buzzword—it's transforming how people work, create, and earn. From automating tasks to driving new businesses, AI has become a tool anyone can use to boost income. Here's how you can ride the AI wave:

• Start a Side Hustle: AI tools like Canva and Runway make graphic design and video production easier than ever. Freelancers are turning these tools into money-making opportunities on platforms like Fiverr and Etsy by offering custom designs and templates.

• Develop AI-Powered Apps: Platforms like Microsoft Azure and IBM Watson let even small teams create AI-driven apps. From chatbots to task management tools, entrepreneurs are solving problems and cashing in on the app market with AI innovation.

• Consulting for Businesses: Companies are eager to integrate AI but need help figuring out how. By learning popular AI tools, you can offer consulting services to businesses, helping them optimize workflows without needing deep programming knowledge.

Pro Tip: Learn the basics of AI, stay connected in the community, and explore small ways to integrate AI into your daily work. Whether you start a side hustle, build apps, or offer consulting, AI can help unlock new opportunities for success. [Source]

Elon Musk’s $1 Million Promise

Billionaire Elon Musk announced he'll give away $1 million daily until the November election to someone who signs his online petition supporting the U.S. Constitution, with the first $1 million check going to a Pennsylvania event attendee. Musk's America PAC is rallying voters for Donald Trump’s campaign, but there are concerns it may be struggling to meet its voter mobilization goals in key battleground states. [Source]

Why Starting a Business at 50 is Necessary Today

Starting a business at 50 can be a game-changer, offering unique advantages that younger entrepreneurs may not have, including experience, financial stability, and clarity of purpose. With decades of life and career lessons, financial security, and the freedom to pursue a passion, it could be the perfect time to launch a new venture and build wealth for the future.

Everything your 25 year old self wishes they had:

• Experience: Years of industry knowledge, problem-solving skills, and leadership give you an edge.

• Financial Stability: At 50, you likely have the financial resources and discipline to take calculated risks.

• Clarity and Focus: You know your strengths, passions, and can align your business with personal goals.

• New Chapter: Starting a business at this stage lets you pursue your passion and redefine your life’s next phase.

• Wealth Building: Entrepreneurship at 50 is a powerful way to create generational wealth and long-term financial security.

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Millionaire Spotlight

Millionaire Spotlight: Billionaires getting Rich from AI
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• Charles Liang: Co-founder of Super Micro Computer, has a net worth of $6.1 billion, with the company's stock up over 1,100% in the past year.

• Kwak Dong Shin: Worth $2.9 billion, runs Hanmi Semiconductor, with shares up 560% in the past year due to the AI boom.

• Shunsaku Sagami: With a net worth of $1.9 billion, leads M&A Research Institute, which uses AI to match buyers and sellers of small-to-medium businesses, and his firm went public in Tokyo in 2022.

• Ivan Zhao: With a net worth of $1.5 billion, is the cofounder and CEO of productivity startup Notion, which is now valued at $5 billion and going all-in on AI after overcoming early struggles in 2015.

• Brett Adcock: Worth of $1.4 billion, founded Figure in 2022 to develop AI-powered humanoid robots, raising $675 million from major investors like Jeff Bezos and Microsoft, with the company now valued at $2.6 billion.

• Lisa Su: Worth of $1.3 billion, transformed Advanced Micro Devices (AMD) into a booming AI player, driving its stock up over 60-fold since becoming CEO in 2014.

• Michelle Zatlyn: with a net worth of $1.2 billion, co-founded Cloudflare, a cybersecurity firm that uses AI to protect against cyber-attacks, with shares rising 65% since last year, and she holds about 2% of the company.

• Sam Altman: A net worth of $1 billion, sparked the AI boom with ChatGPT but owes his wealth to investments in companies like Stripe, Reddit, and Helion, rather than owning equity in OpenAI, which is valued at over $80 billion.

• Harvey Jones: Worth of $1 billion, is a founding board member of Nvidia and owns 0.03% of its shares, benefiting greatly from the AI-driven 300% surge in Nvidia’s stock over the past year.

Science and Technology

Ferrari’s New Model: Ferrari's new F80 hypercar, its most powerful road car ever at 1,200 horsepower, features a "Boost Optimization" system that records the track and delivers extra power at key moments for faster lap times. With modes for maximizing boost or conserving battery power, the limited-edition F80 (only 799 units, priced over $3 million) combines a V6 engine with three electric motors inspired by Ferrari’s F1 technology. [Source]

“Chinese military companies”: DJI has filed a lawsuit against the U.S. Department of Defense after being placed on its list of "Chinese military companies," claiming that this designation is unjustified, harms its reputation, and causes financial losses. The company asserts it has no military ties, produces only consumer and commercial drones, and took legal action after unsuccessful attempts to resolve the matter with the DoD over 16 months. [Source]

A New AI Startup: Former OpenAI CTO Mira Murati is reportedly raising over $100 million for a new AI startup focused on building AI products with proprietary models, following her departure to explore her own ventures. Murati, who joined OpenAI in 2018 and became CTO in 2022, announced her exit shortly before several other executives left the company. [Source]

Business & Markets

Boeing Strike Deal: Boeing and its machinists union reached a tentative deal to end a five-week strike that has hurt production. The deal offers a 35% wage increase and better 401(k) benefits, with a union vote set for Wednesday. [Source]

Real Estate: Homebuilding slowed in September with an annual rate of 1.35 million new homes, down slightly from August. Builders are waiting for lower mortgage rates to boost demand, but the housing shortage and high prices continue. [Source]

Private Equity: Some investors want private equity in their retirement plans, but experts warn it’s not for everyone. Though it offers high returns, private equity is long-term, less liquid, and has higher fees, making it less ideal for most 401(k)s. [Source]