Latest news with #JeffBezos
The Hill
2 hours ago
- Business
- The Hill
Amazon to pay New York Times $20 million to feed company's AI
Amazon has agreed to pay at least $20 million to the New York Times Company for the right to use its journalism to feed the tech giant's artificial intelligence capabilities. The deal between the two companies was first announced in May but the Wall Street Journal reported the details of the payment plan on Wednesday. As part of the agreement, the Times will allow Amazon to use editorial content from its daily journalism, NYT Cooking and The Athletic for AI-related uses. These include plans for a real-time display of summaries and short excerpts of Times articles within Amazon products and services, such as Alexa, and training for Amazon's proprietary foundation models, the companies said in a joint statement earlier this summer. A payment of $20 million is a drop in the bucket for Amazon, one of the largest tech and media companies in the world with a market cap of more than $2 trillion. For the times, $20 million represents around one percent of the company's operating budget for 2024, the Journal noted. News of the payment comes as the Times remains in litigation with Microsoft and OpenAI over what the news outlet says is copyright infringement related to use of its content in ChatGPT. A judge ruled this spring the Times' case against OpenAI can proceed. Amazon was founded by billionaire Jeff Bezos, who also owns the Washington Post.
Yahoo
3 hours ago
- Business
- Yahoo
Woman, 63, hasn't worked in years and has now burned through her savings — here's The Ramsey Show's advice
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Cherie, a 63-year-old San Bernardino, California resident, has been surviving on dwindling savings since 2007. Now she's down to her last few thousand. Concerned, she called in to The Ramsey Show for some advice. With multiple disabilities that prevent consistent work, Cherie lives in a fully paid-off home held in a trust. She has no debt and spends roughly $1,000 a month on essentials, living diligently within her budget, paying only utilities, insurance and food (supplemented by food stamps). Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how 'I've burned through nearly all my savings, and I'm down to $4,000,' she said on her recent call to The Ramsey Show. She cannot claim Social Security retirement benefits until age 67, and repeated denials of her disability benefits have left her without another reliable income source. Prioritize income over equity Cherie asked if she should borrow against her trust-held home, or sell it, to gain more money. 'Don't borrow against it, because that's now putting the one thing that you have that's safe and secure at risk — income is an issue for you, so you don't want to do anything that will add debt to your life,' co-host Jade Warshaw said. Instead, they urged her to generate modest but essential income through part-time remote work. 'You sound great on the phone,' said co-host Ken Coleman. The hosts recommended customer service roles that require only a headset and about four hours of work per day. They also advised Cherie to apply immediately for Supplemental Security Income (SSI), which averages about $718 per month for all recipients. In her case, Cherie could probably receive a slightly higher sum, averaging $764. This would help her cover roughly two-thirds of her current expenses while bolstering her application for Social Security at age 67. She could also find ways to cut back on expenses, like by shopping around for better rates on fixed monthly costs. For instance, with it takes just two minutes to comb through over 200 insurers for free to find the best home insurance deal in your area. The process can even be done entirely online. users can save an average of $482 per year. For Cherie, that would amount to about an extra $40 per month in savings, provided she can find a similarly low rate for her home insurance. Similarly, can help you switch to a more affordable auto insurance option within minutes. After answering a few questions about yourself, your vehicle and driving history, you can compare quotes from trusted brands like Progressive, Allstate, and GEICO. Depending on factors like the make and model of your car, you can find rates as low as $29 per month. Read more: Rich, young Americans are ditching the stormy stock market — Increase income when retirement isn't an option yet Cherie's predicament isn't unique. Nearly half of Baby Boomers (49%) are working past age 70 and do not yet plan to retire. Their situation is driven as much by financial necessity (82%) as by a desire to stay active (78%). Pew Research data backs this up, and notes it as a growing trend for those aged 65 and older. In 1987, only 11% of Americans in this age group were working, but that number had shot up to 19% by 2023. Part of this is because many Americans don't have sufficient savings to retire (the latest estimates put this number at around $1.26 million). By contrast, the Federal Reserve found that the median retirement savings among Americans aged 65 to 74 was just $200,000 as of 2022, the last year for which data is available. While the average retiree's Social Security benefit hit a record $2,002 per month in May 2025, many cannot afford to wait or don't qualify due to limited work history. That's why it's so important to make sure your cash is being put to work in the background. One easy way to get started is with an automated investment advisor. These services typically help you invest in low-cost index funds without having to work with an advisor or pick funds directly. With Wealthfront Automated Investing, you can start investing in the stock market with as little as $1. Depending on your risk profile, Wealthfront will create a customized portfolio with low-cost index funds, combining up to 17 global asset classes. Wealthfront automatically rebalances your portfolio, diversifies your deposits and can help reduce your tax liability by tax-loss harvesting. Even better, up to $500,000 of your deposits with Wealthfront Invest are protected by the Securities Investor Protection Corporation. This means that, in the event of a brokerage failure, your cash and securities are protected. New accounts can get a $50 deposit bonus and fund it with $500 or more. For seasoned investors with portfolios of $50K or more, you might consider diversifying your nest egg through a flat-fee self-directed retirement account. A self-directed retirement account is a tax-advantaged individual retirement account (IRA) that lets investors allocate funds to a significantly broader range of alternative assets than typical IRAs offered by banks or brokerage firms. With IRA Financial, you can work directly with experienced retirement specialists. If you prefer making your investments online, their platform and mobile app make it easy to manage your account. They also have an in-house tax team to ensure your investments stay fully compliant with IRS rules. With over $5 billion in retirement assets under custody, guaranteed IRA audit protection, 25,000+ clients nationwide and a 97% client retention rate, IRA Financial can help you grow your retirement fund with alternative assets. Simply answer a few questions — including the kinds of assets you would like to invest in and how much you'd like to start with — to prequalify for an account in just 90 seconds. Develop a strategic plan for your retirement Beyond ensuring her savings and investments are running smoothly, experts recommend that seniors like Cherie treat job seeking as a strategic project. Apply for SSI and appeal disability denials: Even partial SSI support (about $700/month) can ease immediate cash flow issues. Search for remote jobs: Look for remote positions in roles like customer service, data-entry tutoring roles, ideally with minimal qualifications and flexible hours. Track and adapt: Keep a simple spreadsheet of applications, follow up weekly and tweak your pitch to emphasize reliability and interpersonal skills over technical credentials. Plan for Social Security at 67: You can delay full retirement age and raise benefits by up to 8% annually, which can make a long-term difference in your retirement situation. Find other ways to earn money in the meantime: With cash back apps like Upside, you can get a little bit back every time you shop. Simply download the app, and you can earn an average of 8% cash back on groceries and dining. You can also earn up to 25 cents per gallon back on gas, plus a bonus 25 cents off per gallon with code MONEYWISE25 on your first transaction when you sign up. Cherie owns her home outright and has no debt. Co-host Coleman said her next step is to increase her income until she qualifies for more retirement benefits. ' Sum it all together and say, 'I'm not going to be a victim here. I'm going to take control.' And you can, but you have to go after it,' Coleman said. With that pragmatic plan, Cherie could transform her precarious situation into a sustainable next chapter. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Car insurance in America now costs a stunning $2,329/year on average — but here's how 2 minutes can save you more than $600 in 2025 Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Hindustan Times
4 hours ago
- Business
- Hindustan Times
Meet the 10 richest people alive: Musk, Bezos, Zuckerberg dominate 2025 billionaires list
The ultimate guide to the top 10 richest billionaires on the planet is here. From Elon Musk and recently-married Jeff Bezos to Mark Zuckerberg, these individuals continue to dominate the global economy with their vast empires and are setting new benchmarks worldwide. Only one among them belongs to France, while the remaining nine out of 10 are Americans, as per the data shared by Forbes. Elon Musk is the only person with a net worth of over $400 billion.(REUTERS) Here's a look at the top 10 richest people alive: 1. Elon Musk ($408.5 billion) Despite his ongoing feud with US President Donald Trump, Elon Musk remains the wealthiest person on the planet. He is the only person to have a total net worth above $400 billion. To date, he has co-founded seven companies, which include the electric car maker Tesla, AI startup xAI and space tech firm SpaceX. Musk owns nearly 12 per cent of Tesla, which recently ventured into the Indian market. He has pledged over half of his total shares in the company as collateral for personal loans. Founded in 2002, SpaceX is a dominant force in the space and technology sector. Musk holds an estimated 42 per cent stake in the company. The 54-year-old took control of Twitter in 2022 as part of a $44 billion deal, per the outlet. Also read: Elon Musk slams rivals for too many satellites even as SpaceX owns over 60% of those orbiting Earth 2. Larry Ellison ($296.1 billion) The chairman, chief technology officer and co-founder of Oracle owns nearly 40 per cent of the software giant. He shifted his base to the Hawaiian island of Lanai in 2020. He purchased almost all of it for a whopping $300 million in 2012. He was also a part of Tesla's board between December 2018 and August 2022. 3. Jeff Bezos ($243.6 billion) The founder of Amazon owns 9 per cent of the company. He started the business from his garage in Seattle in 1994. Bezos recently tied the knot with Lauren Sánchez in Venice. This comes after he parted ways with MacKenzie Scott in 2019 after staying together for 25 years. Post their divorce, Bezos is believed to have transferred a quarter of his 16 per cent stake in the company to her. 4. Mark Zuckerberg ($241.6 billion) Zuckerberg kickstarted Facebook at the age of 19 in 2004. He made the platform public in 2012. At present, he owns roughly 13 per cent stock in the company. The name of the company was changed to Meta in 2021. 5. Larry Page ($160.8 billion) Page and Sergey Brin co-founded Google in 1998. He later served as the CEO of Alphabet, the parent company of Google, and stepped down from the role in 2019. As of now, he remains a part of the board as well as a controlling shareholder. 6. Sergey Brin ($153.5 billion) Brin, 51, currently serves on the board of Alphabet. He remains a controlling shareholder in the tech giant after stepping down as its president in 2019. He was six when his family shifted from Russia to the US. Also read: 'Buying CNBC could be tricky': Insider on Jeff Bezos's new interest in cable network 7. Jensen Huang ($152.7 billion) Huang is the CEO and president of Nvidia, a graphics-chip company that was co-founded by him in 1993. He owns 3 per cent of shares in the firm. 8. Bernard Arnault and family ($147.9 billion) Bernard Arnault from France takes care of the LVMH empire, which comprises dozens of fashion and cosmetics brands, including Louis Vuitton. His five children are also associated with the company. A few years ago, Arnault proposed a reorganization of Agache to become a limited partnership. 9. Steve Ballmer ($144 billion) Ballmer served as the CEO of Microsoft between 2000 and 2014. He joined the company in 1980. After that, he went on to purchase the Los Angeles Clippers in the NBA for $2 billion. 10. Warren Buffett ($142.1 billion) Warren Buffett is a hugely successful investor. His company, Berkshire Hathaway, is the owner of several companies like Geico, Duracell as well as Dairy Queen. FAQs: - Who are the top 10 richest people? The list includes Elon Musk, Larry Ellison, Jeff Bezos, Mark Zuckerberg, Larry Page, Sergey Brin, Jensen Huang, Bernard Arnault, Steve Ballmer and Warren Buffett. - Has anyone ever made $1 trillion? No person has ever amassed a net worth of $1 trillion or more. - Who has 400 billion dollars? Only Elon Musk owns more than $400 billion.
Yahoo
6 hours ago
- Business
- Yahoo
Florida's seniors are becoming homeless at an increasingly rapid rate — what experts say is behind this alarming trend
For decades, Florida has drawn in newcomers with its promise of sunshine and opportunity. Many envision the Sunshine State as a paradise of endless coastlines and idyllic retirement living. However, the reality that many seniors face stands in stark contrast to these postcard-perfect expectations. In recent years, seniors of the state have been especially hard-pressed to contend with a widespread housing affordability crisis. 'I didn't work all my life to become homeless. That wasn't my goal,' said a Florida senior who wished to remain anonymous, detailing his struggle with rising housing costs during an interview with WESH 2. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how An alarming percentage of Florida seniors facing homelessness It's undeniable that Florida is a popular place to move to. The allure of warm weather and no state income taxes has made it a top retirement destination. However, in recent years, Florida has experienced a significant acceleration in population growth. The state saw an impressive 18% increase in residents between 2010 and 2022. Orange County, home to the epicenter of Orlando, saw the largest population gains in that time frame, with more than 304,000 new residents calling the area home. As more people move to the state, the housing supply hasn't been able to keep up, ultimately pushing housing costs higher. And for many Florida seniors, this mismatch of supply and demand is putting pressure on their budgets to the point that many are either homeless or facing homelessness. One Florida senior shared his story anonymously with WESH 2. When he moved to the state seven years ago, he bought an affordable home in a mobile home park in Lake County. But after living there just four years, the owner of the mobile home park died, and the property was sold to Legacy Communities, an Arizona-based property investment company. After the property changed hands, the new owner raised his lot rent from $263 to $600. He must continue to pay his lot rent in order to keep his home on the property. Relocating the mobile home isn't feasible, as moving costs have been quoted at $75,000, making it impossible to find a more affordable alternative. 'It's quite stressful, to be honest with you, you know,' he said. 'They just took my security and threw it out the window, it's gone.' If the rent increases continue, he's not sure how he'll manage. Although he has a part-time job, he's concerned that ongoing rent increases on his lot will ultimately consume his entire Social Security check. 'So what do I live on?' he asked. He isn't alone in his fears. Older adults and seniors make up the fastest-growing homeless population in Central Florida. Although the problem of senior homelessness isn't confined to Florida, it's a growing issue in the state. For example, in Miami-Dade County, people aged 65 and older made up nearly 8% of the homeless population in 2019. By 2024, that number had reached 14%. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Affordability crisis for Sunshine State seniors The average retired worker receives around $2,000 per month in Social Security benefits. Although many try to live exclusively off of this benefit, it's simply not feasible to make ends meet on this monthly income in many parts of the country, including Florida. In the Sunshine State, seniors relying solely on Social Security benefits struggle significantly with the average rental cost of $1,900, leaving minimal resources for other essential expenses. Even seniors with additional savings face challenges in stretching their limited funds to maintain financial stability. The median retirement savings for seniors ages 65 to 74 is $200,000. While this may seem like a lot to fall back on, many seniors face expensive medical bills and other life costs that can quickly put pressure on that stockpile. For some, like the anonymous man who shared his story, working part-time offers a lifeline. But for many seniors, working, even part-time, is simply not possible due to physical limitations. Are you a senior at risk of homelessness? The Senior Resource Alliance offers valuable assistance in connecting you with local services designed to help you maintain stable housing. Don't hesitate to contact them for support during this challenging time. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Solve the daily Crossword
Globe and Mail
7 hours ago
- Business
- Globe and Mail
2 Stocks That Turned $1,000 Into $2 Million
Key Points Amazon and Microsoft have turned modest sums into fortunes. Both pioneered consumer-facing industries, selling products and services that millions of people use. There's potential for more growth. 10 stocks we like better than Amazon › The S&P 500 index, arguably the most consistent and proven long-term wealth-building investment mechanism in modern history, averaged a return of 8% per year from 1928 through 2024, which included some big up years and some big down years. If you could get an 8% return every year, you could turn $1,000 into $1 million in about 90 years. Admittedly, that's a long time. They are rare, practically unicorns, but exceptional companies do come along now and then that perform the feat of turning $1,000 into $1 million or more much faster than the broader stock market. Here are two case studies featuring consumer-facing companies that dominated, but didn't stop. Instead, they continued to expand and grow, becoming two of the world's largest companies. While they are too large at this point to replicate their past returns, they remain excellent buy-and-hold candidates for a long-term portfolio and can serve as a blueprint for success for anyone looking for the next big thing. 1. Amazon E-commerce giant Amazon (NASDAQ: AMZN) started as one of the pioneers of online shopping. Amazon went public in 1997, and $1,000 invested then is worth over $2 million now. Dividends contribute a significant portion of the stock market's historical returns -- but not Amazon's, as the company has never paid a dividend, choosing instead to reinvest its profits in growth and expansion. Today, Amazon is more than the dominant online retailer in the United States. It has built several successful businesses, including its Prime subscription, a digital advertising unit, the Prime Video streaming service, and its cloud computing platform, Amazon Web Services (AWS), which has become the world's leading cloud services company and is also Amazon's primary profit center. AMZN Total Return Price data by YCharts Amazon is now a multitrillion-dollar company by market cap, so its highest-growth years are probably behind it. However, there is still plenty of long-term upside here. E-commerce represents less than one-fifth of total retail spending in the United States. Additionally, cloud computing has a long runway ahead as companies migrate from localized servers to the cloud, and that was before artificial intelligence (AI) emerged as a monster growth opportunity a few years ago. It won't be easy to find another company like Amazon. That said, Amazon's success demonstrates the upside of companies operating in vast addressable markets, where companies can grow for decades. Going beyond that, those companies should have a culture obsessed with innovation, and a curiosity to explore and ultimately pursue new opportunities. Amazon's evolution beyond e-commerce has ultimately shaped it into what it is today. 2. Microsoft Technology giant Microsoft (NASDAQ: MSFT) has an unmatched legacy in the broader technology sector. The company launched its Windows 1.0 operating system software in 1985, setting Microsoft on a path to becoming the global juggernaut it is today. That journey has seen the stock turn a $1,000 investment in 1986 into over $2 million. Windows remains the leading PC operating system, but Microsoft's business has expanded dramatically over the years. The Microsoft tech empire now encompasses Microsoft 365 (including Word, Excel, PowerPoint, etc.), Azure cloud, LinkedIn, Microsoft Teams, Bing, Internet Explorer, Microsoft Dynamics, Xbox, and more. The countless consumers and companies that use its products each day create powerful network effects, making it challenging to dethrone Microsoft. When the company introduces something new, such as its Copilot AI assistant, it already has easy access to all those existing customers. MSFT Total Return Price data by YCharts Few companies can match Microsoft's financial prowess at this point. It's one of just two companies with a better credit rating than the United States government, generates tens of billions of dollars of cash profits each year, and is investing heavily in AI as the next technology frontier that it hopes will fuel the company's growth over the next decade and beyond. Despite all this, Microsoft also pays a dividend that it has increased for 23 consecutive years. Microsoft isn't the best at everything, but it seldom misses out entirely on an opportunity -- whiffing on smartphones was a rare exception. Investors hoping to find a similar success story in the future will want to look for companies that recognize the power of network effects and lean into them as Microsoft has. Should you invest $1,000 in Amazon right now? Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $633,452!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,083,392!* Now, it's worth noting Stock Advisor's total average return is 1,046% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
