🏆🤖The Worlds Richest Black Man

THE PROFITS💸

Good morning Opportunists. Get ready for these electrifying briefs! We’re diving into the incredible journey of the world’s richest Black man, who’s reshaping the landscape of wealth and influence. But that’s not all—Ignite has finally been charged, and the drama unfolds! Plus, hold onto your hats because there’s a new stock king in town, shaking up the market like never before.

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Read Time: 6 mins

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Milestones

The Worlds Richest Black Man

David Steward is officially the richest Black man in America, boasting a net worth of $11.4 billion and ranking No. 84 on Forbes' latest 400 list. As the founder and chairman of World Wide Technology, Steward has turned his IT management company into a powerhouse, providing solutions for over 80 Fortune 100 companies and generating more than $20 billion in annual revenue, while also emphasizing the unique opportunities America offers for success.

Fraudulent Business Dealings

Ignite Is Finally Charged…

Last week, the SEC charged Ignite International Brands and its founder Paul Bilzerian for fraudulently reporting $5 million in fake sales of vape pens, which they masked with false invoices in late 2020. Bilzerian, a notorious figure due to his history of securities fraud, is back in the spotlight as the SEC alleges he used his wealth to fund Ignite while pretending to be broke, even as his son Dan Bilzerian continues to flaunt his lavish lifestyle.

S&P 500

There’s a New Stock King

Nvidia, once the star of the S&P 500, has been dethroned by power generation company Vistra, which saw its stock skyrocket in September, marking a 225.55% increase in 2024.

Other standout performers include Constellation Energy, which plans to revive the infamous Three Mile Island plant, and Palantir Technologies, now thriving with booming commercial revenue and joining the S&P 500 in September.

Meanwhile, Howmet Aerospace has capitalized on soaring jet demand, achieving an 87.2% rise this year as it continues to hit record highs.

With AI driving demand for energy, companies like Vistra and Constellation are powering through the market, proving there’s more than just chips fueling the growth train.

Entertainment

Riddle for the Deeply Inquisitive Minded

Challenge yourself with this riddles designed to boost your open-mindedness. By engaging with thought-provoking puzzles, you’ll gain a glimpse into the curiosity and wonder that billionaires actively pursue every day.

The answers you can find on the internet just by searching the question, but see if you can do it without help.

These riddles answers can be found here on Reader’s Digest.

The 5 Letter Word Riddle: What am I? I'm a five-letter word that people eat. Remove the first letter, and I transform into a form of energy. Take away the first two letters, and I become something essential for life. If you scramble the last three letters, I turn into a drink. Can you guess the word?

The Clever Response Riddle: A prisoner is summoned for questioning by the guards, who warn him: “If you lie, we’ll hang you; if you tell the truth, we’ll shoot you.” What clever remark did the prisoner make to save himself?

The Kidnapper Riddle: A wealthy family resided in a large circular house with a maid, a butler, and a gardener. As the parents prepared for a party, they tucked the younger kids into bed with goodnight kisses and said farewell to the older ones. Upon returning home, they discovered that all the kids had been kidnapped. When the authorities questioned the butler, maid, and gardener about their activities during the kidnapping, the butler claimed he was organizing the library, the maid said she was dusting the corners, and the gardener stated he was watering the plants. Who among them is lying and responsible for the kidnapping?

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Science and Technology

Climate Change’s Recent Impact: Western North Carolina, long considered a safe haven from climate change, was battered by the remnants of Hurricane Helene, which dumped over 2 feet of rain and triggered catastrophic flooding. Experts highlight that this disaster, compounded by previous heavy rains, showcases how climate change is intensifying storms, making once-distant regions vulnerable to extreme weather impacts typically associated with coastal areas.

Cancer Treatment Knowledge/Advancements: A groundbreaking study from the University of Chicago has unveiled the crucial role RNA plays in DNA packaging, shedding light on why TET2 mutations are linked to various cancers and health conditions. Led by Professor Chuan He, the research suggests that targeting this RNA pathway could lead to new cancer treatments, providing a potential “silver bullet” that selectively eliminates cancer cells while also addressing other health risks associated with TET2 mutations, especially in older adults.

The Godfather of AI Speaks on the Dangers of AI: Yoshua Bengio, one of the leading figures in AI, is expressing serious concerns about the rapid advancement of his own creation, fearing it could lead to catastrophic consequences for society. As the chair of an international panel focused on AI safety, he emphasizes the need for cautious development and regulation to avoid a future where superintelligent machines could potentially threaten human control or facilitate a global dictatorship.

Business & Markets

Nvidia Stock: Nvidia CEO Jensen Huang declared the demand for the company's AI chips as "insane" during a CNBC interview, announcing an expanded partnership with Accenture to help businesses leverage AI technology. With Nvidia's stock more than doubling this year due to a surge in AI infrastructure purchases, the partnership aims to create a new business group focused on custom AI solutions, marking the dawn of a new era in enterprise AI.

Tesla Stock: Tesla (TSLA) shares took a hit on Wednesday after the company reported third-quarter deliveries slightly below expectations, delivering 462,890 vehicles, which, while an improvement, still fell short of analyst predictions. With growing competition from Chinese EV makers like BYD, which sold a record 417,603 vehicles last month, and high expectations looming over upcoming announcements, including the much-anticipated robotaxi event, investors are wary that the pressure to meet ambitious targets could lead to a "sell the news" reaction when the details are finally revealed.

Stock Market: U.S. stock indexes edged up slightly on Wednesday, buoyed by a rebound in chip stocks, while investors kept a keen eye on the Middle East situation and upcoming labor market data. Nvidia led the charge with a 1.6% gain, though Tesla and Nike faced setbacks, with the latter dropping 6.8% after pulling its full-year outlook ahead of a CEO transition.