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Despite Its Problematic Origins, Adidas' Net Worth Continues To Grow In 2024

Adidas may be one of the only companies that Cancel Culture has been unable to overtake. Before Geriatric Millennials and Gen Xers were wearing their very best Adidas shoes, courtesy of Run DMC ‘s 1986 song anthem, the brand wasn’t exactly known for embracing African-American culture. In fact, its 1949 founder Adolf “Adi” Dassler was a documented member of the Nazi Party. Although Adidas certainly doesn’t bring attention to his affiliation in the brand’s timeline , the brand doesn’t hide the founder’s name either. Dassler became the supervisor of the Hitler Youth Sports league , but there are some conflicting reports about whether he was politically enthused with his affiliation or whether his “sole purpose was to support athletes, regardless of political affiliation, religious faith or ethnicity.” Felix Reimann Then, add on images of Jesse Owens, the African-American winner of four gold medals at the 1936 Olympic Games in Berlin, who was wearing Dassler’s new handcrafted, leather...

Understanding The Difference Between Value VS. Market Cap Weighted

When it comes to investing , two common methods of portfolio construction and index strategies are value-weighted and market-cap weighted approaches. Both of these strategies offer unique ways of measuring the importance of individual assets within a portfolio or index, but they operate on different principles and have distinct advantages and drawbacks. Understanding these differences is key to making informed investment decisions, particularly for those investing in large indices or diversified portfolios. What Is Market Cap Weighted? Market cap weighted, or capitalization-weighted, is a method used to determine the importance of a stock within an index based on the company’s market capitalization. The market capitalization of a company is calculated by multiplying its stock price by the number of shares outstanding. In a market cap-weighted index, the larger the company’s market cap, the more influence it has within the index. For example, in a market cap-weighted index like the...

Dec 5, 2024

Everything We Know About Trump Media's Potential Plans For Bakkt

His inauguration is still weeks away, but since championing the 2024 election , Donald Trump has been making his presence felt across America. The East Coast native has big plans to implement changes across the nation, from teaming up with Robert F. Kennedy on health initiatives to making cryptocurrency more accessible. On Monday, Nov. 18, it was revealed that Trump Media & Technology Group (DJT) is in “advanced talks” to acquire Bakkt (BKKT), a well-established crypto exchange company not long after the president-elect launched his World Liberty Financial initiative. The former is majority-owned by NYSE parent company Intercontinental Exchange (ICE) which is led by CEO Jeff Sprecher, husband of former Georgia Senator Kelly Loeffler, who was also co-chair of Trump’s inaugural committee . Neither Bakkt nor its future potential owners have confirmed the Financial Times ‘ reports just yet, but there have been notable jumps in both stocks since the rumor mill began turning this week....

Nov 21, 2024

Exploring The 2024 Election's Impact On Tesla Stock

Whether you’re satisfied with the results of the 2024 presidential election or not, the only option now that the votes are in is to accept that situation and move forward with grace and confidence. Throughout their campaign for the White House, both Kamala Harris and Donald Trump had celebrities endorsing them to help persuade the public. The former relied on Megan Thee Stallion’s bodacious body and a co-sign from Barack Obama, while Trump’s support from figures like Elon Musk and Joe Rogan could be what gave him the winning edge. The South African pledged his allegiance to the Republican candidate following the assassination attempt made on his life in July; per Barrons , Musk was one of the president-elect’s biggest donors for his third campaign, spending more than $130 million supporting Trump and others in his political party. Considering he’s the richest man in the world, dishing out this money to help his friend was nothing for the Twitter CEO, who’s only stood to benefit...

Nov 12, 2024

$960+ Increase Is Coming For 2025 Social Security Recipients

Social Security deductions are one of those topics that don’t really come up until two things happen: 1) our loved ones reach the retirement age where they can apply for benefits, or 2) we grumble about the chunk of money taken out of our (bi)weekly paychecks. With a presidential election happening now, the topic of Social Security and Supplemental Security Income (SSI) has come up more often than not. Specifically, Millennials and Gen Zers are being told that only 75% of the benefits will be covered by 2035, and younger voters want to know how either candidate plans to fix this. For those who are already receiving these benefits, there’s a new discussion on the table: the 2025 Social Security COLA increase. SSI benefits for more than 72.5 million Americans will increase 2.5% next year. The cost-of-living adjustment (COLA) increase will cover benefits payable to nearly 68 million SSI beneficiaries in January 2025. Additionally, increased payments to nearly 7.5 million SSI recipients...

Here's How Much Money Elon Musk Makes Per Second

Elon Musk, entrepreneur and CEO of companies like Tesla and SpaceX , is not only known for his innovations but also for his staggering wealth. In 2022, Musk made headlines when he invested a whopping $44 billion in X, formally known as Twitter. This move sparked discussions about the investment’s value and impact on the platform. Despite expressing buyer’s remorse and even joking about it on social media , Musk’s financial decisions continue to fascinate the public’s attention. How Much Money Does Elon Musk Make Per Second? Elon Musk earns approximately $656 per second, according to CoinCodex . This estimation is from Musk’s reported estimated net worth of $205.2 billion as of January 2024 and the span of over a decade during which he accumulated his wealth. Musk’s earnings per second are over $43,000 per minute, nearly equivalent to the annual full-time wage in the US of $53,490. Musk earns a year’s salary in just one minute, and it takes him only a week to reach a nine-figure...

Feb 27, 2024

How TikTok's "Loud Budgeting" Will Help Reach Your Financial Goals

From seeing birthday vacations to Mexico or weekly spa visits on social media, it’s easy to feel like you should spend your money on life’s luxuries. But if you have plans to pay off your debts or build up your savings, the need for financial limits is crucial to reaching your goals. The latest financial trend taking over TikTok is “loud budgeting,” the no-shame approach to discussing financial boundaries and personal financial limits. As “loud budgeting” gains momentum, its bold approach to financial management becomes increasingly recognized and supported by financial experts due to the data on American spending in recent years. According to a November survey of 2,098 adults conducted by The Harris Poll on behalf of Credit Karma, 69% of Americans reported having financial regrets in 2023. Additionally, 53% stated that their financial situation deteriorated last year, with 31% expressing regret over not saving enough money and 22% lamenting excessive spending. The numbers show that...

Feb 16, 2024

How Meta's Recent Layoffs Made A Big Impact On Profits

In the past year, Meta has undergone significant transformations, particularly in its approach to workforce management. Meta’s decisions regarding layoffs have not only attracted attention but have had a substantial impact on the company’s financial performance. Meta incurred staggering losses totaling $16 billion, primarily attributed to its Metaverse endeavors, mainly its Reality Labs division responsible for Oculus goggles. This marked a significant increase from the previous year’s loss of $13.7 billion, with Meta reporting a loss of $4.6 billion in the final quarter of 2023. Meta’s Stock Surge And Improved Margins Despite these substantial deficits, Meta’s stock surged by 12% following recent updates, largely due to the company’s improved margins. Meta’s revenue increased by 16%, while operating income and profits surged by 62% and 69%, respectively. CEO Mark Zuckerberg has assured investors of further losses in the future due to ongoing investments in augmented reality/...

Feb 16, 2024

How Marvin Ellison, One Of The World's Wealthiest Black CEOs, Saw His Stock Market Value Increase By $3.4M In Less Than A Month

Marvin Ellison, one of the world’s wealthiest Black CEOs, is celebrating a multi-million-dollar financial triumph.

Feb 15, 2024

What To Know About Charles Schwab's Recent Layoffs

In response to evolving market dynamics , Charles Schwab, a key player in the financial services sector, recently implemented a significant workforce reduction in November 2023 . The layoffs affected approximately 5% to 6% of its employees, totaling around 2,000 individuals. The decision is part of a broader cost-cutting strategy aimed at enhancing the company’s efficiency and competitiveness. Charles Schwab’s Workforce Reduction A spokesperson for Charles Schwab confirmed the layoffs, emphasizing that these measures were essential to position the company for long-term success. While the precise number of affected employees was not disclosed, the firm ‘s headcount was 35,900 as of September 30, according to a corporate fact sheet. Initially announced in the summer, the cost-cutting initiatives include evaluating the company’s real estate footprint, streamlining the operating model and implementing staffing reductions, particularly in non-client-facing areas. Charles Schwab faced...

Feb 13, 2024

How Floyd Mayweather Jr. Retired With A $1.5B Net Worth

Floyd Mayweather Jr. , widely acclaimed as one of boxing’s most legendary figures, has enjoyed immense success inside the ring and built a substantial fortune. His strategic endeavors have solidified his status as a cultural icon, captivating both fans and investors. Based on recent evaluations up until 2023, Mayweather’s estimated net worth currently stands at $1.2 billion. Predicting his financial standing for 2024 is difficult due to the inherent volatility of investments and the multifaceted nature of his business ventures. Nevertheless, considering his track record, it’s foreseeable that Mayweather’s net worth could reach a whopping $1.5 billion by 2024. Mayweather’s Career Success Mayweather’s career in boxing is marked by a series of historic moments that solidified his status as one of the sport’s all-time greats. Beginning his professional journey after winning a bronze medal at the 1996 Olympics , Mayweather quickly rose through the ranks. In 2007, he faced off against...

Feb 9, 2024

31 Days Of Savings: How No-Spend January Works And Tips To Help You Stay On Track

The latest TikTok challenge taking over our timelines, the #NoSpendJanuary challenge, is a new approach to savings that urges individuals to resist unnecessary spending. Scrolling through the #NoSpendJanuary hashtag, you see a sneak peek into people’s regular spending habits. Although we’re almost through the month, it’s never too late to learn valuable financial lessons and collect helpful resources to mend unhealthy spending habits. It’s not just about the challenge itself, but a space for learning the diverse financial habits of entrepreneurs, business owners, content creators and professional’s financial habits in the new year . Creator of the award-winning “Millennial In Debt” web series, Melissa Jean-Baptiste is a testament to financial wins through a frugal lifestyle . A first-generation Haitian-American, she paid off $102,000 in student loans on simply a teacher’s salary. According to the U.S. Bureau of Labor Statistics, the average American household spent $72,967 in 2022....

Jan 19, 2024

How To Negotiate A Salary Increase In 2024

As annual reviews arise, securing a salary increase may be on your list of professional goals. Whether negotiating within your current role or pursuing new opportunities, mastering the art of salary negotiation can be a pivotal move, ensuring your compensation reflects your skills and expertise. According to Career Builder , a significant 73% of employers in the United States expect candidates to negotiate salary when presented with an initial job offer. However, despite this expectation, a surprising 55% of job candidates choose not to negotiate their salary. This reluctance often stems from factors such as a lack of confidence in negotiation skills, fear of rejection, limited information about industry standards or company compensation, and a perceived lack of bargaining power. Adding to this, data from Pew Research Center reveals there is a gender disparity in salary increases. A higher percentage of men (42%) express satisfaction with the initially offered pay compared to women...

Jan 19, 2024

What The Wells Fargo Layoffs Mean For Jobs, Stocks, And Corporate Strategy

Wells Fargo remains under the spotlight as investors respond to the financial giant’s recent announcement of workforce reduction plans. The news, which surfaced in late 2023, revealed that Wells Fargo CEO Charlie Scharf shared plans to cut the company’s workforce, anticipating severance costs ranging between $750 million to $1 billion during the fiscal fourth quarter of last year. This strategic move follows earlier layoffs at Wells Fargo disclosed last month, totaling 11,300 jobs or 4.7% of its workforce in 2023. The company’s approach under Scharf’s leadership aims to maintain a workforce presence near its various hubs across the United States. Why Are The Wells Fargo Layoffs Happening The decision to reduce headcount comes in the wake of Wells Fargo’s ongoing efforts to navigate challenges in the economic landscape. Last month, Scharf highlighted the necessity of these payments, citing the need for the company to adjust its workforce amid persistently low turnover rates. In...

Jan 19, 2024