MacKenzie Scott announced Wednesday in a blog post that she has donated $2 billion this year to 199 organizations. The 54-year-old billionaire philanthropist has now given away a total of $19.2 billion since 2019, per AP. About 75% of the organizations that Scott has donated to this year are nonprofits focused on economic security and...
Federal Reserve officials cut the federal funds rate, or the borrowing rate that banks charge each other, by 25 basis points or 0.25% on Wednesday. The central bank’s rate-setting committee, the Federal Open Market Committee (FOMC), announced Wednesday that the target range for the federal funds rate was now 4.25% to 4.5%. Federal Reserve chair...
Barbara Corcoran chooses to fly coach on airplanes, even though the self-made multimillionaire and “Shark Tank” investor can afford first-class tickets. In an episode of The Jamie Kern Lima Show that aired last week, Corcoran explained why she flies coach. Her rationale started with the incredulous question, “Do you know what a first-class ticket costs?”...
A year ago, the “buy now, pay later” financing company Klarna stopped hiring new employees. Now Klarna is incentivizing its remaining employees to stay, and work harder, by promising higher pay related to AI improvements. “By not hiring, we’re simply shrinking,” Klarna CEO Sebastian Siemiatkowski explained in an interview with Bloomberg on Thursday. 1,000 people...
“It’s not everybody that just wakes up one day and says, ‘I don’t like my sheets; I’m going to go make a company,'” Scott Tannen, co-founder and CEO of Boll & Branch, tells Entrepreneur. However, for Scott and his wife, Missy Tannen, co-founder and chief product officer of the couple’s luxury bedding and home goods...
This Side Hustle Spotlight Q&A features Paris Emily Nicholson, 26, and Saskia Teje Jenkins, 25. The business partners and friends began working on Australian fashion brand Amelie Teje as a side hustle in 2020 with just $2,500 each and have since grown it to seven figures. Responses have been edited for length and clarity. Image...
In a decision filed on Saturday, a probate commissioner in Nevada ruled against 93-year-old Rupert Murdoch’s attempt to change his family’s trust to give his eldest son Lachlan Murdoch more control over the family’s media and business empire. The decision means that Murdoch’s three other adult children, James, Elisabeth, and Prudence, will have equal voting...
When Michelle Hensley, now founder and CEO of luxury gift basket and wrapping company Nifty Package Co., lost her husband, a pastor, to cancer in 2014, she was 50 years old and “had a complete identity crisis,” she says. Image Credit: Courtesy of Nifty Package Co. Hensley’s husband had handled their finances while she ran...
Millions of Americans are becoming entrepreneurs: The U.S. is averaging 430,000 new business applications per month in 2024, 50% more than in 2019, according to the U.S. Department of the Treasury. More than 40% of people followed their passion into entrepreneurship, while nearly 30% started their businesses to gain the flexibility and autonomy that comes...
Irene Chen and Matthew Grenby, co-founders of functional luxury handbag and accessories brand Parker Thatch, are no strangers to well-timed pivots — having used them to build a business that’s been profitable since day one and will hit eight figures in revenue this year. Image Credit: Courtesy of Parker Thatch Drawing inspiration from Chen’s background...