Latest news with #JaredIsaacman
Gizmodo
6 days ago
- Science
- Gizmodo
Trump Snubbed Jared Isaacman as NASA Chief, but the Private Astronaut Isn't Done With Space Yet
Although Jared Isaacman is out of the running for the position of NASA administrator, the space enthusiast is still very much interested in staying in the game. In a recent appearance, Isaacman revealed he would still like to pursue launching robotic missions to space. This weekend, Isaacman received the National Space Society's Wernher von Braun Award for the privately funded Polaris Dawn mission that he led in September 2024. After his speech, Isaacman spoke of plans he would have executed as NASA administrator, as well as some that the private astronaut is still interested in pursuing outside of the agency, SpaceNews reported. This comes less than a month after President Donald Trump withdrew his nomination of Isaacman to lead NASA in a surprising switch-up that left members of the space community disappointed. In comments to the press, Isaacman mentioned that one of the goals he had for NASA was to partner with academic organizations on science missions. 'My priorities would have been leadership in space and the orbital economy and trying to introduce a concept where NASA could help enable others to conduct interesting scientific missions, getting academic organizations to contribute,' he said. 'I wouldn't mind maybe trying to put that to a test and see if you could fund an interesting robotic mission, just to show that it can be done, and try and get some of the top tier academic institutions who want to perform,' Isaacman added. 'So that's on my mind.' Isaacman previously funded the private missions he was a part of. In 2021, he purchased all four seats on board SpaceX's Dragon spacecraft for the Inspiration4 mission. Under the Polaris Dawn program, Isaacman contracted with SpaceX to fund a series of missions, the first of which launched on September 10, 2024 and pulled off the first commercial spacewalk in history. Rather than focusing on human-led private missions, Isaacman is now looking to launch space exploration missions out of pocket. This comes at a time when NASA is facing severe budget cuts that threaten several science missions and put the agency's ability to pursue space exploration at risk. The current administration's so-called skinny budget proposes a $6 billion cut to the agency, 24% less than NASA's current $24.8 billion budget for 2025. As part of the proposal, the agency's astrophysics budget will drop to less than half a billion dollars from $1.5 billion. Its planetary science budget would drop from $2.7 billion to $1.9 billion, while its Earth science budget would fall to just over $1 billion from about $2.2 billion. NASA's Mars Sample Return, a bold quest to bring bits of Mars to Earth, is on the chopping block as part of the 2026 proposed budget. Other missions, such as NASA's Juno that has been exploring Jupiter since 2016, face cancellation, while planned future missions, such as DAVINCI and VERITAS, may never launch. Isaacman's nomination to lead NASA was a welcomed move by the space community as the agency struggles with pressure to return humans to the Moon and land astronauts on Mars. If he were given the helm, Isaacman would have focused on reusable hardware to launch the Artemis missions to the Moon while ditching NASA's Space Launch System (SLS), a giant, expendable rocket that has gone $6 billion over-budget, he revealed in a podcast earlier this month.
Finextra
22-06-2025
- Business
- Finextra
Deep Dive: How Shift4 Is Building a Global Commerce Platform: By Sam Boboev
In the fast-moving world of fintech and payments, few companies have transformed as dramatically in recent years as Shift4 Payments. Born as a small merchant processor in the late 1990s, Shift4 has rapidly evolved into a global 'commerce technology' player powering payments for over 200,000 businesses today. Its story matters now because Shift4 is at an inflection point: after years of hyper growth, strategic acquisitions, and expanding beyond its U.S. base, the company is positioning itself as a serious challenger to payment incumbents worldwide. In 2024 and 2025 alone, Shift4 has embarked on bold moves – from mega-acquisitions in Europe to launching its all-in-one point-of-sale platform internationally – that could reshape the competitive landscape of integrated payments. Moreover, founder and CEO Jared Isaacman is handing over the reins after 26 years, marking a leadership transition just as Shift4 pursues ambitious global targets. For fintech observers, Shift4 offers a compelling case study of software and payments convergence done right, and its next chapter will signal how far an upstart can go in challenging entrenched rivals. This deep dive provides a comprehensive look at Shift4's background, strategy, financial performance, expansion plans, and competitive context at this pivotal moment. Company Background and Evolution Shift4's journey began in 1999, when 16-year-old Jared Isaacman started a tiny payment processing business (then called United Bank Card) out of his parents' basement. Isaacman's early innovation was streamlining the clunky merchant onboarding process of the time – cutting setup from weeks to one day, and offering free card terminals with simple applications. This merchant-friendly approach fueled growth, and by 2012 the company rebranded as Harbortouch to emphasize its point-of-sale (POS) solutions alongside payment services. Through the mid-2010s, Isaacman's firm acquired several other payment and POS providers, expanding its reach in hospitality and retail payments. A major turning point came in 2017: the company (briefly renamed Lighthouse Network) acquired a Las Vegas-based payment gateway called Shift4 Corporation, a veteran player in hotel and restaurant payments, and adopted the Shift4 name for the combined entity. This merger of a merchant acquirer with a payment software gateway foreshadowed Shift4's future strategy of integrating software and payments. In June 2020, Shift4 Payments went public on the NYSE (ticker: FOUR) – one of the few fintech IPOs in the immediate aftermath of COVID's onset. Despite the pandemic's impact on its core restaurant and hospitality clients, Shift4's business rebounded strongly, even exceeding the aggressive targets set during its 2021 investor day. Over 2021–2023, the company aggressively broadened its offerings and vertical reach, both organically and via acquisition. It launched an e-commerce platform by acquiring 3dcart (rebranded Shift4Shop) in late 2020, and pushed into sports venues with the 2021 acquisition of VenueNext, a provider of stadium POS and mobile ordering tech. Shift4 also set its sights on new industry verticals – notably non-profits, gaming, and even space technology. It struck partnerships with major names like St. Jude Children's Research Hospital (to handle donations) and Allegiant Travel (to extend its hospitality payments into airlines). In a headline-grabbing deal, Shift4 became the payments partner for SpaceX's Starlink satellite internet service, a global opportunity that necessitated international payment capabilities. These initiatives signaled Shift4's intent to go beyond its SMB restaurant roots and serve large, complex merchants across a variety of sectors. By 2022, founder Jared Isaacman proudly noted that Shift4 had moved 'upmarket,' powering the entire POS and payments systems of massive resort properties and stadiums – customers that bring larger payment volumes and more stability than small businesses. Today, Shift4 bills itself as an 'integrated commerce' provider, combining payments with software solutions in a one-stop platform. The company claims to serve roughly one-third of all U.S. restaurants through its various POS brands, and has expanded into hospitality, retail, entertainment, and specialty markets. Headquarters remain in Pennsylvania, but Shift4's footprint is increasingly global – a result of its recent expansion strategy (detailed below). Notably, as of early 2025, Jared Isaacman announced plans to step down as CEO (while remaining a major shareholder and Executive Chairman) after being nominated to lead NASA – handing the CEO role to company president Taylor Lauber. This leadership transition caps a remarkable evolution: from a basement startup to a publicly traded, multi-billion dollar fintech with international ambitions. Disclaimer: Fintech Wrap Up aggregates publicly available information for informational purposes only. Portions of the content may be reproduced verbatim from the original source, and full credit is provided with a "Source: [Name]" attribution. All copyrights and trademarks remain the property of their respective owners. Fintech Wrap Up does not guarantee the accuracy, completeness, or reliability of the aggregated content; these are the responsibility of the original source providers. Links to the original sources may not always be included. For questions or concerns, please contact us at
National Post
19-06-2025
- Business
- National Post
Derek Burney: First serious crack in senior levels of Trump's administration
Article content A contributing factor to Musk's angst was Trump's decision to pull the nomination of Musk ally Jared Isaacman for NASA Administrator after 'a thorough review of prior associations.' Isaacman is a former commercial astronaut and founder and CEO of payment processing company Shift4 Payments. He is also an investor in Musk's SpaceX and led two private spaceflight missions. Trump expressed reservations about his ties to the Democratic party saying, 'And he happened to be a Democrat, like totally Democrat. And I say, you know, we won. We get certain privileges. And one of the privileges is we don't have to appoint a Democrat. NASA is very important.' Article content Musk's company SpaceX works closely with the U.S. government on contracts worth billions of dollars. Several agencies use its Falcon rockets, in-orbit space vehicles and Starlink, a network of more than 7,500 internet satellites. Musk's space firm is the only one regularly transporting astronauts to and from the International Space Station. It has $4 billion in contracts to develop its Starship vehicle for future astronaut visits to the moon. SpaceX also has close ties to U.S. Spy agencies and is a candidate for the president's 'Golden Dome' shield for America. Article content Article content An intense personal squabble could put much of this at risk with concomitant risks for U.S. space strategy where Musk is the clear leader in terms of achievements. While the row with Musk might make it more difficult for the Republicans to maintain control of Congress in 2026, it may help Trump win the internal Republican battle over the 'One Big Beautiful Bill.' Musk certainly has the money and the larger social network vehicle, but Trump controls political power in Washington. That means the conflict between the two super-egos is uneven. Under Trump, Washington has become inured to bombshell announcements on an almost daily, if not hourly, basis. But the dispute with Musk is the first serious crack in senior levels of the Trump Administration. Article content Trump is a consummate transactional leader who enjoys making deals. He offered Musk what he believed was a mutually favourable transaction. Support my policies, and I will support your access and influence. Trump and Musk fell out because Trump just doesn't get principled people. Musk rejected the linkage, because that would have violated his principal concern about rising deficits. His reputation is based on deeds, not deals. Article content Article content Cooler heads may yet prevail, but neither individual gives ground easily. Musk did apologize for some of his remarks, and supported the Administration's efforts to suppress riots in Los Angeles. Trump decided to move on to bigger problems — the L.A. riots, Iran, his tariff agenda and the Russian-Ukraine imbroglio. Article content
Bloomberg
17-06-2025
- Politics
- Bloomberg
New NASA Boss May Not Take Over Till Next Year, Acting Head Says
NASA might be without a new administrator until early 2026, according to the acting head of the agency, casting doubts on the direction of the US space program after President Donald Trump last month pulled the nomination of Elon Musk's ally, Jared Isaacman. The earliest a new nominee could start the job might be in October but the process could last into March, Janet Petro, NASA's acting administrator, said on Tuesday in an interview.
Daily Mail
10-06-2025
- Business
- Daily Mail
EXCLUSIVE The 'con' that Trump never saw coming as Elon 'crosses the Rubicon'
When Elon Musk spectacularly torched his relationship with Donald Trump, it seemed the Big, Beautiful Bill was to blame. But privately his issues with the president ran deeper than concerns over the ballooning public debt. He was pushed to the brink when his NASA nominee, billionaire payments entrepreneur Jared Isaacman, was axed by Trump in a late-night Truth Social post. Until then, Musk's criticisms of the president had been confined to relatively measured arguments against the deficit. On Tuesday, he branded the bill a 'disgusting abomination.' Then he went nuclear on Thursday, invoking the Epstein files and calling for Trump's impeachment. 'Elon crossed the Rubicon,' Steve Bannon told the Daily Mail. The MAGA big beast has been stoking tensions between Trump and Musk for months. Now, he triumphantly declares that Isaacman - who was once sued by Trump's Taj Mahal casino - is a 'f***ing liberal' who helped collapse the house of cards. While Musk made waves at DOGE, his deeper ambition lay with NASA - and his dream of colonizing Mars. SpaceX currently holds around $22 billion in government contracts, with potential payouts rising to nearly $90 billion. Isaacman was widely viewed as the candidate who would cement Musk's bold plans for deep space travel. The self-styled 'commercial astronaut' bankrolled and flew on two SpaceX missions - the first all-civilian orbital flight in 2021, and the first private spacewalk in 2024. He is financially bound to SpaceX, reporting more than $5 million in capital gains from its shares in a recent filing. His company, Shift4 Payments, also does business with Musk's. Before launching into space, Isaacman explored a different galaxy entirely: Atlantic City. By his mid-20s, the payments whiz-kid had money to burn - and under the neon constellations of the Boardwalk, he had his first brush with Trump. In 2009, the Trump Taj Mahal sued Isaacman over four bad checks totaling $1 million. The case settled in 2011 for $650,000. Other lawsuits followed. Trump Plaza on the Boardwalk also sued him. Mohegan Sun in Connecticut alleged he had written four bad checks totaling $1 million. That case was eventually resolved and withdrawn, court records show. In 2010, he was arrested at the Canada border on fraud charges. In a press release titled, 'Nevada Fugitive Captured', US Customs and Border Protection announced it had arrested Isaacman at the Washington state line. Isaacman told Congress that the arrest stemmed from a dispute with the Palms Casino Resort in Las Vegas over a travel reimbursement. The matter was resolved within 24 hours and charges were dismissed. The court records were sealed. In a written question submitted after his April 9 nomination hearing, Democratic Senator Maria Cantwell asked Isaacman about the arrest and four casino lawsuits between 2008 and 2010. 'In my early 20s, I was fortunate to experience business success at a young age, and I spent time in casinos as an immature hobby,' Isaacman answered. 'The legal matters referenced were, in fact, forms of negotiation and were all resolved promptly.' Isaacman assured senators his gambling days were behind him. Yet, while orbiting the Earth in a Musk-made capsule in 2021, he placed the first ever sports bet from space. 'He's nothing but a conman,' Bannon said. It is unclear whether Trump was aware of his own previous court battle against Isaacman. But the White House said it was Isaacman's loyalty to the president that was in question. Since 2009, Isaacman has donated $272,000 to Democratic candidates, PACs, and organizations. In the same period, he gave $8,500 to the Republican Party. It was previously reported that these donations had been disclosed during the presidential transition in 2024 and that Isaacman discussed them with Trump in a meeting weeks after the election. But Bannon said that the president had only been made aware recently that Isaacman funneled cash to 'the most Trump-hating Democrats.' Another White House insider said that donations to the likes of Chuck Schumer and Josh Shapiro, including a raft of payments to Democrats in the last election cycle, would be unconscionable to Trump. 'This isn't like Howard Lutnick, who donated a few thousand dollars to Schumer, he's a New York businessman,' she said. In contrast to Lutnick's pragmatic offerings to Schumer, Isaacman bestowed $100,000 upon the senator in 2021. She said there was 'no way Trump would have allowed Isaacman's confirmation if he'd known.' Sergio Gor, a baby-faced Maltese immigrant who serves as one of Trump's most loyal henchman, gleefully brought the incriminating evidence to the president after clashing with Musk for months. The timing was aimed for maximum humiliation. Trump was handed the dossier on Isaacman just moments before a televised send-off for Musk in the Oval Office. The president tempered his rage through the farewell but when the press were gone, he confronted the SpaceX boss. He began reading some of the donations aloud, shaking his head. 'This is not good,' Trump told him. The world's richest man begged the world's most powerful to reconsider. But the president, by now growing suspicious of the deficit hawk DOGE chief, wouldn't hear it. 'I don't care, this guy is gone,' Trump said. Some in Musk's circle have tried to cast Gor as the scapegoat for the presidential bromance break-up. But Bannon warned that blaming Trump's loyal aide would backfire. 'Sergio is bulletproof,' he said. Isaacman said he was blindsided when Trump pulled his nomination. 'I got a call Friday of last week [May 30] that the president decided to go in a different direction,' he said on the All-In podcast on Thursday. Isaacman heavily implied that his ties to Musk were to blame. 'There were some people that had some axes to grind, I guess, and I was a good, visible target,' he said, adding that 'the timing was no coincidence.' Isaacman's nomination was publicly rescinded on May 31, three days after Musk officially departed from his role as head of DOGE. Trump pointedly addressed the decision during an Oval Office meeting with German Chancellor Friedrich Merz last Thursday as Musk's attacks on X spiraled out of control. 'I didn't think it was appropriate,' Trump told reporters. 'He happened to be a Democrat, like, totally Democrat. And I say, you know, look, we won. We get certain privileges. And one of the privileges is we don't have to appoint a Democrat. NASA is very important.' Isaacman dismissed that explanation. He noted the donations had already been disclosed to the Senate months earlier. Instead, he suggested he was knifed. An 'influential adviser came in and said "Look, here's the facts, I think we should kill this guy"', he said. 'I don't fault the president at all,' he added. 'He's got to make a thousand decisions a day with seconds of information.'
