Category: fox-business/business-leaders

Reddit’s public debut could mean big bucks for OpenAI CEO Sam Altman

Reddit will make its much-anticipated debut on the New York Stock Exchange in March, and its initial public offering filed this week shows OpenAI CEO Sam Altman stands to make a fortune from the social media platform going public. Reddit’s prospectus shows Altman is the third-largest shareholder in the company, owning 4.5% of its Class A shares and 9.3% of Class B shares, amounting to…

Marc Lore’s food startup aims to take bite out of Uber Eats, DoorDash

Serial entrepreneur Marc Lore is sprinting from one hour-long meeting to the next, with board members and countless investors, as he dedicates over 100 hours a week to building a company that he believes can disrupt an industry now dominated by the likes of Uber Eats and DoorDash.  If you asked Lore, who solidified his reputation as an influential player by selling one business to…

Crypto no longer outsider at famed Miami Beach ETF conference

Crypto gets a lot of shade in traditional finance circles. Less so these days, and as a reporter on the crypto beat, one of the best examples of the mainstreaming of the digital asset business came last week at the annual Exchange ETF Conference sponsored by the biggest money management firms in the world. From what I saw, crypto didn’t just have a seat at…

OpenAI valued at $80B after deal: report

OpenAI, the Microsoft-backed artificial intelligence (AI) company, completed a deal that values the firm at $80 billion or more, according to a new report. The New York Times reported on Friday, citing people with knowledge of the deal, that OpenAI would sell shares in a tender offer led by venture capital firm Thrive Capital. Under the deal, employees will be able to cash out their…

Soft skills are in great demand in today’s workforce: Here’s why

Your job performance is a combination of your “hard skills” — your technical knowledge and hands-on work product — and your intangible “soft skills,” which are taking the American workplace by storm.  Soft skills are non-technical skills that relate to how you work. These skills include how you interact with colleagues, how you solve problems and how you manage your work, according to The Balance,…

FedEx Founder Fred Smith: U.S. record debt ‘unsustainable’

FedEx founder and executive chairman Fred Smith is adding his name to the list of business leaders sounding the alarm over America’s surging national debt, telling FOX News this week it is “unsustainable.” During an interview on “Special Report” Tuesday evening, host Bret Baier asked Smith for his take on the level of federal debt held by the U.S. government, which is now above $34…

A Buffett protégé makes an offbeat bet: Buy San Francisco real estate

Most investors are running away from San Francisco’s downtown real-estate market, but Ian Jacobs is heading in. Call it a family tradition. Jacobs is an heir of the Toronto-based Reichmann real-estate dynasty, which made a fortune buying properties in nearly bankrupt New York City during the 1970s. A bargain-seeking stock investor who once apprenticed himself to Warren Buffett, Jacobs has mostly avoided the family business—until…

Musk switches Neuralink location of incorporation to Nevada

Billionaire Elon Musk’s cybernetic implant company, Neuralink, has changed its location of incorporation from Delaware to Nevada, state records show.  The move comes about a week after Musk said Tesla would hold a shareholder vote to transfer its state of incorporation to Texas from Delaware after a judge voided his $56 billion pay package.  “Never incorporate your company in the state of Delaware,” Musk posted…

Arm CEO talks growth as stock rallies on AI-fueled demand

Arm Holdings CEO Rene Haas took a victory lap Thursday as the chip design firm’s stock saw its biggest single-day gain ever after beating Wall Street earnings and revenue estimates and offering a sunny forecast driven by demand for their services thanks to artificial intelligence. In an interview on FOX Business’ “The Claman Countdown” ahead of the closing bell, Haas attributed his company’s success to…

Costco CFO Richard Galanti to step down after nearly 4 decades as finance chief

Costco CFO Richard Galanti on Tuesday announced plans to step down after serving for nearly 40 years in the role. The retailer said Gary Millerchip, the former Kroger finance chief, will take over on March 15, when Galanti’s decades-long tenure as CFO is expected to end. Galanti has long been a fixture – particularly on quarterly earnings calls – for Costco shareholders. He has often…

Mark Cuban links immigration to DEI in latest round of X clash with Elon Musk

Billionaire Mark Cuban continued his defense of corporate diversity, equity and inclusion (DEI) policies amid his debate with Elon Musk after he appeared to chide the Tesla boss over his support for legal immigration, claiming the two go hand-in-hand. Cuban’s post came in response to a post by Musk on X, formerly Twitter, that expressed support for increasing legal immigration while curbing illegal immigration. “As…

Why a messy office at work could be hurting your career

Whether it’s a cubicle or an office, your workspace tells others more about you than you think. If your workspace has stacks of unorganized paper, objects flung on the floor, empty water bottles or dirty coffee mugs — or if it’s just a general place of disarray — you’re sending messages to coworkers and colleagues that aren’t positive.  Two experts weighed in as to why…

Why you should think twice about sharing business gripes with work friends

You may have a close pal at work with whom you chitchat in the morning, grab lunch with now and then, share stories about your relationships and even text during the workday about everything from weekend plans to problems with co-workers.  But for the sake of your career and your reputation, shouldn’t you be cautious about spilling your soul about gripes you might have at…

MacKenzie Scott sold $10.4 billion in Amazon shares in 2023

MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, offloaded about one-quarter of her stake in the company last year, which was worth more than $10 billion, according to a report by Bloomberg. Scott, 53, a philanthropist who helped Bezos build the company, sold 65.3 million shares in the e-commerce giant in 2023, according to a regulatory filing cited by Bloomberg. The share sale forms about…

The Detroit Lions have an automobile titan backing the team

The National Football League’s Detroit Lions are backed by a hefty name in the auto industry. Its ownership rooster includes Sheila Ford Hamp, Martha Ford Morse, William Clay Ford, Jr., Elizabeth Ford Kontulis and Martha Firestone Ford. In other words, the Ford family.  The team has been owned by members of the Ford family since 1963 when William Clay Ford Sr. bought majority ownership of…

JPMorgan CEO Jamie Dimon warns US driving toward a cliff as debt snowballs

JPMorgan Chase chairman and CEO Jamie Dimon says the U.S. is speeding toward a cliff as the nation’s runaway debt continues to mount, sounding the alarm that the situation needs to be tackled before it results in a crisis. The chief executive of the nation’s largest bank issued the warning during a panel discussion at the Bipartisan Policy Center on Friday, when he was asked…

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