🏆🤖Rest In Peace Liam Payne, You Will Be Missed

THE PROFITS💸

Good morning Opportunists, today, we reflect on the tragic passing of former One Direction star Liam Payne, we will dive into Elon Musk’s recent $15 billion net worth drop, and take a look at the top 10 wealthiest chefs in the world—proving that the culinary world is serving up more than just great food! Stay tuned for all the details.

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Liam Payne Passed Away

Former One Direction singer Liam Payne tragically passed away on Wednesday after falling from a third-floor balcony at a hotel in Buenos Aires. According to police, Payne was reportedly alone at the time, with signs of drugs and alcohol in his room, while an autopsy confirmed he died from multiple trauma injuries; investigators are still determining whether the fall was accidental or intentional.

What is Consider Wealthy Anymore?

For most people, $30 million is a fortune, but for ultra-high-net-worth individuals (UHNWIs), it's just the starting point. The number of people with over $30 million in assets jumped nearly 28% from 2016 to 2023, with many new multimillionaires emerging from the tech and entrepreneurial sectors, pushing the threshold for "wealthy" even higher.

Elon Musk’s Net Worth Plummeted

Elon Musk's net worth took a $15 billion hit after Tesla’s debut of robotaxis, dropping his fortune to $240 billion, though he remains the world’s richest person. Despite some praise, analysts critiqued the event for lacking substance, pointing out that while Tesla’s demos were in controlled environments, competitors like Waymo are already running autonomous rides in real cities.

Entertainment

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Millionaire Spotlight

Millionaire Spotlight: 10 of the Wealthiest Names in Cooking [Source]

1. Alan Wong: Alan Wong, a pioneer of island fusion cuisine and co-founder of Hawaiian Regional Cuisine, is the world's richest chef by a landslide. With a net worth of $1.6 billion, Wong’s culinary empire spans cookbooks, TV shows, and even a stint as Barack Obama's personal chef.

2. Kimbal Musk: Wealth clearly runs in the Musk family—Kimbal Musk, Elon Musk’s younger brother, is the second-richest chef in the world. As the owner of The Kitchen Restaurant Group and a board member at Tesla and SpaceX, Kimbal has built a fortune of $743 million.

3. Jamie Oliver: Since rising to fame in 1999, British chef Jamie Oliver has secured a spot in the top 10 richest chefs. With a net worth of $445 million, his wealth comes from successful TV shows, endorsements, cookbooks, and restaurants.

4. Gordon Ramsay: Unsurprisingly, Gordon Ramsay, one of the world’s most famous celebrity chefs, is also among the wealthiest. With a net worth of $327 million, Ramsay's fortune comes from his restaurants, best-selling books, and his own production company.

5. Nobu Matsuhisa: Foodies worldwide will recognize the name Nobu, thanks to Nobu Matsuhisa, the mastermind behind the global luxury sushi empire. The Japanese chef and restaurateur has built a net worth of $297 million with Nobu restaurants spanning every continent.

6. Wolfgang Puck: Wolfgang Puck, the Austrian-American chef and restaurant mogul, ranks as the sixth wealthiest chef in the world. His successful restaurant empire has earned him an impressive net worth of $178 million.

7. Rachel Ray: Despite having no formal culinary training, talk show host and celebrity chef Rachael Ray has won over fans worldwide. With her popular cookbooks and Food Network shows, the 30 Minute Meals star has built a net worth of $148 million.

8. Emeril Lagasse: Emeril Lagasse may not be the most recognizable TV chef, but he's amassed an impressive $104 million. At 63, Lagasse's success comes from his thriving restaurants and savvy business ventures, just like many of his celebrity chef peers.

9. Bobby Flay: Bobby Flay ties for ninth place on the list with a net worth of $60 million. At 58, the US chef owns and oversees several successful restaurants and franchises, including Bobby's Burger Palace, Bobby's Burgers, and Amalfi.

10. Ina Garten: Ina Garten, the American cookbook author and TV host, ranks as the 9th richest chef in the world. With a net worth of $89 million, she’s built her fortune through her hit Food Network show, best-selling cookbooks, grocery line, and merchandise.

Science and Technology

Crypto Scammers Arrested: The U.S. Department of Justice has arrested several individuals and companies involved in a digital asset fraud operation, accused of manipulating cryptocurrency markets through illegal practices like wash trading and pump-and-dump schemes. The investigation, called Operation Token Mirrors, involved the FBI creating a fake cryptocurrency token, NexFundAI, to uncover market manipulation, leading to $25 million in cryptocurrency being seized and charges brought against 18 people and entities.

SpaceX Starlink System Changes: SpaceX is seeking FCC approval for changes to its Starlink system that would boost broadband speeds to gigabit levels and improve connectivity worldwide. The proposed updates include lowering satellite altitudes, enhancing hardware for better performance, and adding flexibility in spectrum usage, all aimed at addressing capacity issues and providing faster, more reliable internet for both home and mobile users. However, the FCC's approval isn't guaranteed, as concerns from other operators and mobile carriers remain.

Nvidia’s Rumors: Rumors suggest Nvidia might release multiple versions of the upcoming GeForce RTX 5070, including an 18GB 'Super' variant alongside the expected 12GB model. While the extra VRAM and potential 5-10% performance boost could appeal to hardcore gamers or future-proofing enthusiasts, some may question whether the higher price tag (possibly $100-$200 more) is worth it for such a modest improvement.

Business & Markets

Bitcoin Moves: A Bitcoin whale from 2009 just transferred $630,000 worth of BTC to Kraken, bringing their total moved in the last two months to nearly $5.5 million, while still holding $75.23 million. This activity has sparked speculation about a possible link to Bitcoin's creator, Satoshi Nakamoto, but similar past transfers have shown it's unlikely.

US Stocks: U.S. stocks barely budged Thursday after an early rally, driven by strong quarterly results from Taiwan Semiconductor (TSMC), fizzled out. While the Dow rose 0.4% to hit a new record, the S&P 500 and Nasdaq finished flat, with chipmakers like Nvidia and Broadcom initially soaring before losing steam, while rising Treasury yields reflected stronger-than-expected consumer spending and jobs data.

Netflix Earnings Report: Netflix reported stronger-than-expected third-quarter earnings, with revenue of $9.83 billion, up 15% year-over-year, and net income of $2.36 billion, sending shares up over 4% in after-hours trading. Subscriber growth hit 282.72 million, boosted by the crackdown on password sharing, but Netflix plans to stop reporting subscriber numbers in 2025, shifting focus to financial performance as it expands into sports, including NFL games and WWE events.