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Videos: 467 & Playlists: 15Forbes champions success by celebrating those who have made it and those who aspire to make it. The brand convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and makng a significant impact on the world.
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Meet The Fintech Billionaire Making A Fortune Rewarding Home Renters
With support from American Express’ longtime CEO Ken Chenault, the founder of fintech Bilt Rewards has become a billionaire creating a membership rewards program for house and apartment renters across the country.
Read the full story on Forbes: https://www.forbes.com/sites/kerryadolan/2024/04/24/meet-the-fintech-billionaire-making-a-fortune-rewarding-home-renters/?sh=6ab5cab84ca7
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Power's Michael Rainey Jr. Shares The Best Advice 50 Cent Has Given Him
Michael Rainey Jr, an actor most known for his character Tarik St. Patrick on Power, joins Rosemarie Miller on “New Money” to discuss his life growing up as a child actor, his passion for music, and 50 Cent’s mentorship.
0:00 Introduction
0:46 The Start Of Michael's Career At 9-Years-Old
4:57 Landing Power And Barbershop 3
7:16 Michael On 50 Cent's Mentorship
9:59 Starting A Music Production Company And Entrepreneurial Endeavors
11:49 Expanding Beyond Acting
12:39 Michael Beyond Acting And Music
15:16 Best And Worst Money Decisions
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Are You Financially Prepared To Die? 4 Ways To Plan For The Inevitable
Just as you prepare for life’s significant events, it's equally crucial to anticipate your eventual departure and protect your loved ones from the burden of financial complications. Forbes contributor True Tamplin outlines how to tackle your assets.
Read the full story on Forbes: https://www.forbes.com/sites/truetamplin/2023/10/31/4-questions-to-know-if-you-are-financially-prepared-to-die/?sh=4275a1864730
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A Billionaire’s Blueprint For Building Bullet Trains
Wes Edens has broken ground on Brightline West, his $12 billion Las Vegas-to-SoCal railway, aided by billions from the Biden Administration. But building more high-speed lines like this one won’t be easy.
Under a blazing morning Las Vegas sun, billionaire Wes Edens and Transportation Secretary Pete Buttigieg threw a party this week to mark the start of construction of Brightline West, the first private high-speed railway in the U.S., driving yellow spikes into a section of track.
Now comes the hard part. The $12 billion project is three years behind his original schedule — delayed by the pandemic and final environmental approvals — but if construction goes as fast as the billionaire cofounder of Fortress Investment Group promises, it'll open in time to speed travelers across the desert at 200 miles per hour from Sin City to Southern California in time for the 2028 Los Angeles Olympics.
“The timeline is both realistic and achievable,” Edens told Forbes. “The impact of this is going to be long-lasting and prodigious. And I want it to be successful because I want the next one and the next one and the next one to happen.”
Read the full story on Forbes: https://www.forbes.com/sites/alanohnsman/2024/04/23/in-las-vegas-a-billionaires-blueprint-for-building-bullet-trains/?sh=1884f4bb64ac
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Inside A $46 Million Renewable Energy Swindle
Rhino Onward International, or ROI as it called itself, launched in 2022 with some big promises. The renewables development firm claimed that its “proprietary process and technology” put it in position “to assume the leading role in Green Hydrogen production.” The company said it was building a green hydrogen plant in Arizona that would be worth about $530 million within 5 years, according to marketing materials it shared with investors.
ROI raised $31 million from over 200 investors but apparently only invested $200,000 in the business; the firm’s promoters Paul Croft and J.D. Frost diverted the rest of the investors’ money to themselves and entities they control, according to an investor lawsuit filed in Illinois last month, which cited bank records obtained through subpoenas. Beginning in 2021 until last year, Croft, a 42-year-old entrepreneur living in Chicago, and Frost, a 40-year-old accountant based in Chattanooga, Tennessee, raised approximately $46 million from a series of phony renewables investment schemes, which the pair used to live extravagantly, pay employees at their tax advisory business, pay down short-term loans and even lend money to embattled professional hockey player Robin Lehner, according to allegations in lawsuits, bankruptcy filings, former investors and ex-employees of Croft’s and Frost’s businesses who spoke with Forbes on the record, and others with knowledge of the matter who spoke on the condition of anonymity in order to speak about sensitive information.
0:00 Introduction
0:28 The Founding Of Rhino Onward International
3:34 Who Was Scammed By Croft And Frost?
6:11 Who Are Croft And Frost?
9:21 When Did Investors Figure Out The Scam?
12:17 Embellishing Wealth And Origin Stories
14:26 What's Next?
Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2024/04/23/anatomy-of-a-46-million-renewable-energy-swindle/?sh=767c07c23c4b
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Billionaire Breaks Ground On The U.S.'S First High-Speed Rail
Wes Edens has broken ground on Brightline West, his $12 billion Las Vegas-to-SoCal railway, aided by billions from the Biden Administration. But building more high-speed lines like this one won’t be easy.
Read the full story on Forbes: https://www.forbes.com/sites/alanohnsman/2024/04/23/in-las-vegas-a-billionaires-blueprint-for-building-bullet-trains/?sh=2baad0ba64ac
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Meet The AI Entrepreneur Who Used LinkedIn To Raise $13.8 Million
Benjamin Harvey, the CEO of AI Squared, says he’s added investors including former TIAA CEO Roger Ferguson. Harvey joined Forbes senior writer Jabari Young at the Nasdaq MarketSite to discuss the startup’s Series A raise.
Read the full story on Forbes: https://www.forbes.com/sites/jabariyoung/2024/04/17/meet-the-ai-entrepreneur-who-used-linkedin-to-raise-138-million/?sh=60958bea5837
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Here's How To Lure A Billionaire Investor: Have Vision
Tanya Van Court, the CEO of financial technology startup Goalsetter, joins Forbes senior writer Jabari Young at the Nasdaq MarketSite to discuss the startup’s $9.6 Series A extension raise. Van Court founded Goalsetter in 2016 and lured investors, including billionaire Robert Smith, NBA stars Chris Paul and Kevin Durant, and former New York Yankees pitcher C.C. Sabathia.
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YouTube Creator Jacksepticeye Came Close To Retiring This Year—Here's Why He's Staying Online
YouTube creator and former Forbes Under 30 lister Sean McLoughlin "Jacksepticeye" spoke about why he's giving fans at least two more years on his channel before retiring. However, McLoughlin is already testing other business opportunities with his coffee company Top Of The Mornin' Coffee and his comic book series The ALTRVERSE.
0:00 Introduction
1:14 On Starting His Creator Career
3:24 Jacksepticeye On Creating New Content And Keeping Audience Engaged
5:10 Jacksepticeye On Making The Jump To Hollywood From Influencer/Creator
9:23 "My Personality Is My Product"
15:26 Jacksepticeye On Mental Health & Sustainability
20:16 Jacksepticeye On Writing Comic Books And Love Of Characters
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Meet The Guy Who Raised Over $100 Million To Race Drones
Drone Racing League CEO Nicholas Horbaczewski joins Forbes senior writer Jabari Young at the Nasdaq MarketSite to discuss the business of racing drones and update the status of the Generation Z sports startup.
Founded in 2015, Drone Racing League, or DRL, is a sports technology and entertainment startup that hosts yearly tournaments where drone pilots compete for a cash prize. Horbaczewski says DRL will host its ninth season this fall and raised more than $100 million from investors, including publicly traded Liberty Media, WWE, T-Mobile, and Miami Dolphins owner Stephen Ross’s RSE Ventures—the league’s most prominent backer.
“It’s Formula One but with drones,” Horbaczewski tells Forbes, describing DRL. “What we’re doing is hard,” Horbaczewski adds. “It’s a combination of sports, technology, and media. So, our investors represent the best of those industries coming together to build something novel together.”
In the interview, the DRL chief executive explained how he lured notable investors for capital and forecast plans to expand globally.
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TikTok's Ban Bill Nightmare Is Just Beginning
On Wednesday, President Joe Biden signed into law a bill that will force China-based social media giant ByteDance to sell its crown jewel TikTok. If it does not, the app will be banned in the United States—an unprecedented move that would be the first instance of this country prohibiting a foreign-owned social media app.
Read the full story on Forbes: https://www.forbes.com/sites/alexandralevine/2024/04/25/tiktok-ban-bill-bytedance-divest-china-biden/?sh=7e8fa37f55d7
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Inside VR Gaming Startup StatusPro's $20 Million Raise
Former NFL wideout Andrew Hawkins joined senior writer Jabari Young at the Nasdaq MarketSite to discuss sports technology and gaming startup StatusPro. The virtual reality software company raised $20 million in February and has star-studded investors, including entertainer Drake, NBA superstar LeBron James, and Baltimore Ravens quarterback Lamar Jackson.
Hawkins, the president of StatusPro, explains its plan to deploy the capital and provides his perspective on entrepreneurs entering the video gaming sector and how they can attract investors.
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Shoe Designer Christian Louboutin Is Now A Billionaire
After four decades of keeping his well-heeled clients in his iconic red-soled heels, shoe designer Christian Louboutin is now a billionaire. The 61-year-old designer is stepping into the billionaire ranks thanks to his eponymous fashion brand. While still best-known for its towering stilettos and perilous platforms, the Louboutin brand has expanded into sneakers, bags, and beauty products, as well as lines for men and children.
The company was valued at $3.2 billion last year by Exor, the investment company of Italy’s Agnelli family, which bought a 24% stake in 2021 for about $650 million. Louboutin still owns 35%—which Forbes values at $1.1 billion. That stake makes up most of an estimated $1.2 billion fortune that includes other investments such as the Vermelho Hotel, a luxury resort he opened in southern Portugal last year. Representatives for Louboutin didn’t respond to requests for a comment on the valuation.
Read the full story on Forbes:
https://www.forbes.com/sites/giacomotognini/2024/04/01/christian-louboutin-net-worth-billionaire-shoe-designer/
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A Michelin Star Chef Explains The Business Of Fine Dining
Charlie Mitchell, executive chef and coowner of the Michelin-starred Clover Hill in Brooklyn, New York sat down with Forbes Reporter Rosemarie Miller to talk about what it takes to own and operate a fine dining restaurant in the heart of New York.
0:00 Introduction
0:35 Being The First Black Michelin Star Chef In New York
3:45 Standing Out In The Culinary Business
5:17 Inflation's Impact On Running A Restaurant
9:04 How To Learn The Basics Of The Restaurant Business
10:50 A Day In The Life Of Charlie Mitchell
12:11 Tips For Other Restaurant Operators
13:05 Lessons Learned Along The Way
17:37 More Tips For Chefs
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Meet The New Billionaire Getting Rich Making Injectors For Blockbuster Drugs Like Ozempic
The runaway success of weight loss drugs took the markets by storm last year, spurring huge stock gains for drugmakers like Novo Nordisk, which makes Wegovy and Ozempic. Most patients take them at home in weekly injections, using plastic, pen-like devices known as autoinjectors, filled with the liquid medication and fitted with a tiny needle as wide as two human hairs.
As demand for the drugs soars, so does the need for those devices. That growth has now minted a new billionaire: Roger Samuelsson, the 60-year-old Swedish cofounder of Switzerland-based SHL Medical, one of the world’s largest manufacturers of autoinjectors. Forbes estimates he’s worth $3 billion, largely thanks to his 69% stake in the company he cofounded in 1989. The remaining 31% is held by Swedish private equity firm EQT—which has minted seven billionaires over the years—and Athos, the family office of the billionaire Struengmann brothers. Press-shy Samuelsson, who declined multiple requests for an interview, also enjoys fast cars (he raced in the 2016 Ferrari Challenge series) and owns the 414-foot megayacht Octopus, which he bought in 2021; the yacht was built for its first owner, Microsoft cofounder Paul Allen (d. 2018).
0:00 Introduction
0:20 Who Is Roger Samuelsson?
3:32 The Growing Market For Injectors
5:50 Who Is The Competition In The Space
8:50 What's Next For SHL Medical
10:45 What's Next For Roger Samuelsson
Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/04/12/meet-the-billionaire-owned-company-making-injectors-for-blockbuster-drugs-like-ozempic/?sh=5ba1ce857607
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America's Top 5 Best Banks 2024
The failures of Silicon Valley Bank and peers like First Republic Bank made 2023 the most tumultuous year for the banking industry since the 2008 crisis, but for some small community banks, the chaos hardly registered.
City Holding Co., the parent company of West Virginia's City National Bank with $6.2 billion in assets, is based in the capital city of Charleston, in a region of Appalachia known for coal. West Virginia is a state whose population of 1.8 million is on the decline, but president and CEO Skip Hageboeck sees that as an asset instead of a drawback. Major banks don’t reinvest much in West Virginia and surrounding towns in Virginia, Ohio and Kentucky to compete for customers, and City National has steadily increased its market share. Thanks to its focus primarily on retail banking rather than catering to businesses, just $894 million out of $5.1 billion (17.5%) in deposits are uninsured, according to its most recent call report, compared with 41% of total deposits at all U.S. banks.
Read the full story on Forbes: https://www.forbes.com/sites/hanktucker/2024/04/04/americas-best-banks-2024/?sh=2fd50226d762
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How One Billionaire Lost Millions And Left Underserved Scholarship Students In Limbo
On March 21, the roughly 70 employees of the Schuler Education Foundation, based in the affluent suburb of Lake Forest, Illinois, were summoned to an emergency all-hands meeting. Over the past two-plus decades, the nonprofit founded and funded by a former president of healthcare giant Abbott Laboratories, Jack Schuler, had spent at least $150 million counseling and tutoring more than 1,800 low-income students from Chicago and Milwaukee-area high schools to help them gain admission to elite colleges; those colleges in turn covered most (if not all) of the students’ tuition and other costs.
The employees, who first had to certify they wouldn’t record anything, were let into a Zoom room where the nonprofit’s executive director Joanne Bertsch read from a script announcing that the foundation would shut down on May 24. Everyone would be let go except for a skeleton crew of seven college counselors left to support students through August.
0:00 Introduction
0:15 How Our Reporters Found Out About Jack Schuler
3:05 Reporting On The Schuler Foundation
5:45 Losing Money In The Market
8:50 The Role Of Healthcare Stocks
12:23 The Impact On Students And Colleges
16:05 How The Foundation Behaved As Their Investments Lost Value
Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/04/16/inside-the-collapse-of-a-former-billionaires-foundation-for-low-income-students/?sh=b52a7d62f78b
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Green Hydrogen’s Hype Hits Some Very Expensive Hurdles
A fight over a vital federal tax credit intended to kickstart a market for clean hydrogen and worries over high production costs are cooling near-term expectations for the climate-friendly fuel.
0:00 Introduction
0:30 Green v Grey Hydrogen
6:01 What Are The Biden Administration Carbon Goals?
9:59 Is Green Hydrogen Realistic?
14:47 Blue Hydrogen And Carbon Capture
16:50 How Will Costs Come Down?
21:00 What’s Next For Green Hydrogen?
Read the full story on Forbes: https://www.forbes.com/sites/alanohnsman/2024/04/16/green-hydrogens-hype-hits-some-very-expensive-hurdles/?sh=71cc54e16e57
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Behind On Your Investing Goals? This Actionable Acronym Can Help
Before increasing your investment contributions, it’s important to understand how your investments fit into your overall financial well-being. These five key steps based on the acronym CRUSH can be used to re-evaluate your investing strategy. These helped Bernadette Joy, Forbes contributor, become a debt-free millionaire in her 30s.
Read the full story on Forbes: https://www.forbes.com/sites/bernadettejoy/2023/06/30/5-steps-to-catch-up-your-investing-if-you-feel-behind/?sh=719058742e42
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Why Truth Social Hosted A Party At Donald Trump’s Mar-A-Lago
Trump Media & Technology Group, the parent company of Truth Social, celebrated its success with a party at Trump’s tony Palm Beach club Mar-a-Lago on Thursday night. The event kicked off shortly after Trump Media closed at $32.41, down nearly 60% from its high of $79.38 on March 26, the day the company went public. Forbes staff writer Zach Everson joins Brittany Lewis on "Forbes Talks" to discuss.
Read the full story on Forbes: https://www.forbes.com/sites/zacheverson/2024/04/15/trump-media-technology-group-stock-mar-a-lago/
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