Billionaire Robert Smith made enormous news recently when he announced he would pay for Morehouse College graduates' student loans. Click the link in bio for our 2018 profile of Smith, which explains how he conquered Wall Street on the way to becoming the country's wealthiest African-American. #TBT
Want to know the truth behind Trump Tower Moscow? Click the link in our bio to read how Trump risked everything for a (relatively) tiny deal. Candidate Trump jeopardized his eventual presidency on a middling deal — and one that would have had Vladimir Putin's fingerprints all over it. Plus, swipe left to see who was involved in Towergate - the Web of people involved in Trump's plans for Moscow included members of the First Family, oligarchs and Russian officials. ( 📸: Andrew Harrer/Bloomberg)
Ford Motor Co. is testing delivery robots that could one day replace human workers. Ford is teaming up with Agility Robotics to explore a brand-new frontier in the world of autonomy, to pilot the feasibility of having robots and autonomous vehicles deliver packages to houses and businesses. Digit, a two-legged robot designed and built by Agility Robotics to not only approximate the look of a human but to walk like one, too. Built out of lightweight material and capable of lifting packages that weigh up to 40 pounds, Digit can go up and down stairs, walk naturally through uneven terrain, and even react to things like being bumped without losing its balance and falling over. Digit’s design also allows it to tightly fold itself up for easy storage in the back of a self-driving vehicle until it’s called into action. Once a self-driving car arrives at its destination, Digit can be deployed to grab a package from the vehicle and carry out the final step in the delivery process. (📸: Ford Motor Co.)
“There was a time and a place when it was good enough for leaders to deliver on financial performance, new products and innovative agendas, but that paradigm has changed,” says Stephen Hahn-Griffiths of Reputation Institute, who publishes a Global CEO RepTrak, a study of chief executive reputation. “Social responsibility, employee responsibility and environmental responsibility—that’s 32% of the weight of reputation of any given CEO.” In our top 10 list of 2019’s World’s Most Reputable CEOs is Niels B. Christiansen, CEO of The Lego Group - click the link in our bio to see the rest. (📸: Caro/Christoph Ulrich/Newscom)
Ferdinand Porsche's great grandson is gearing up to disrupt the sports car market. Not by redefining what it means to be a sports car but rather by changing the foundation on which one is built and challenging the traditional definition of what it means to be an automaker. In 2016, after much soul-searching, Anton “Toni” Piëch, a great-grandson of Ferdinand Porsche, and Rea Stark Rajcic, an industrial designer, decided to incorporate Piëch Automotive—named after Anton’s father, Ferdinand Piëch, Ferdinand Porsche’s grandson and a legendary Volkswagen Group chairman, revered for transforming the People’s Carmaker into the modern automotive powerhouse it is today. Read more about the auto startup with $25 million raised and a large responsibly towards the heritage of their name at the 🔗 in our bio. (📸: Piëch Automotive)
CBS's patience with 'The Big Bang Theory' paid off, the show started off slowly before becoming one of the biggest hits in the history of television. Mega-hits are few and far between, but ‘The Big Bang Theory’ has reportedly generated $1 billion in syndication revenue for the show's producers Warner Bros. and will be a cash cow for decades. The show’s success may encourage networks to be patient with future shows. (📸: Getty)
Remembering Formula 1 racecar driver and more recently Mercedes-Benz speed guru Niki Lauda, who is regarded as one of the greatest drivers of all time. From 1969 to 1985, he won 25 Grand Prix races and three world titles (in 1975 and 1977 with Ferrari and in 1984 with McLaren). The world lost the Formula 1 legend, who passed away yesterday, "peacefully" and "surrounded by his closest family members," according to a statement issued to the Austrian Press Agency by the Lauda family. (📸: Erwin Schriau/AFP/Getty)
“People all thinking the same way is not a recipe for creative success,” says Sean Parker, Founder of the Parker Foundation; Chairman & Co-Founder of Economic Innovation Group at the first ever #ForbesOppZones. See more from the summit in our Instagram Stories. (📸: @thebernhardy)
Hear why Bjorn Lomborg, president of his think tank Copenhagen Consensus Center and author, thinks people should stop panicking about dystopian visions of the future and start thinking smart about problem-solving on the new 🎙 podcast episode of “What’s Ahead” with Steve Forbes. 🔗 in our bio. (📸: Bjorn Lomborg)
Today, the inaugural #ForbesOppZones Summit is convening visionary leaders to explore how to unlock transformative economic potential and create lasting change in America’s overlooked communities. U.S. Senator and 2020 presidential candidate Cory Booker joins us to speak about Opportunity Zones as a bipartisan policy. Follow along in our Instagram Stories. (📸: @thebernhardy)
Tag a friend to encourage them to be bold.
Shoe startup Rothy's, which has a cult-like following, canceled its summer slide days before launch as it ran into quality problems trying to scale up from prototype to production. The shoe, which has a different construction than Rothy's original woven flats made from recycled water bottles, proved tough to make in production quantity at its company-owned factory in Dongguan, China. The sole, made out of recycled polyurethane, a.k.a. vegan leather, was particularly difficult to work with on the mold. “If one in 100 are bad, you don’t want to send them out,” Rothy’s President, Kerry Cooper said. “Our brand is immeasurably valuable, and I don’t want to do anything that hurts the brand even if it’s one in 100.” (📸: Rothy’s)
Over $235 billion worth of annual food production relies heavily on the contribution of bees. There are about 4000 different species of bees native to the United States and more than 700 of them are rapidly declining due to their loss of habitat because of large scale farming. Pornhub is raising awareness of this issue with its “Beesexual Campaign,” as well as raise funds for conservation efforts through featuring bee-saving tips through videos of bees getting frisky with plants narrated by adult film stars. 🐝🔗 in our bio. #WorldBeeDay (📸: Pornhub)
Elon Musk has declared precision maps a “really bad idea,” but others disagree. There are many sorts of maps a self-driving car might use. The most basic maps are the sort found in navigation systems and your phone. They just show where the roads are, how many lanes and how they connect. More detailed maps, sometimes called "HD" maps will contain things like images of the road surface (often taken in infrared by the Light Detection and Ranging (LIDAR)) and surroundings, including the location of trees, hydrants, mailboxes or other physical objects in the environment. It's the difference between driving a road you've never seen before, and one you've driven 100 times. Humans can drive roads they have not seen before, but they are better when seeing things they remember. More at the link in our bio. (📸: Navteq/Here)
Look to yourself first.
Embattled New York is introducing a new cannabis legalization bill. The bill includes the establishment of a single, streamlined government entity to manage and regulate all cannabis-related products, including hemp and CBD products and derivatives. While the latter two products are ubiquitous, they are unregulated, causing a grey area in the market. CBD's rise in popularity as a food and beverage additive is currently unregulated by the FDA. (📸: Tikun Olam)
Robert F. Smith, a billionaire investor and philanthropist, gave the ultimate graduation gift to the Morehouse College Class of 2019: Smith said he will pay off each graduate's student loan debt - in full. The generous gift is estimated to be worth $40 million. It was the second gift that Smith announced during the commencement ceremony. Smith, who received an honorary doctorate from the college, also made a $1.5 million gift to the school to be used for scholarships and the development of a new park. A spokesperson for Morehouse College called it the biggest single gift in the school’s history. Smith is ranked at #355 on Forbes' Billionaires 2019 with an estimated worth of $5 billion. He is, according to a 2018 issue of Forbes, the country's wealthiest African-American (yes, even more than Oprah). (📸: Patrick T. Fallon/Bloomberg)
A cat went viral on Reddit after a photo was posted of him sitting on a ‘Game of Thrones’ inspired iron throne. Season 8, reportedly the most expensive season of the show with a $90 million budget (averaging $15 million each episode) and top cast members paid $500,000 per episode, ends with the finale tonight. More GoT by the numbers at the link in our bio. (📸: Elly Gibson)
Tag a friend with Sunday scaries to motivate them for the week.
David Beckham reportedly has bought stake in his company at $150 million valuation this month. Showing just how successful a global brand he and his wife have become, former soccer star and Miami FC owner Beckham has purchased a one-third stake in his company for $50 million, placing a $150 million valuation on Beckham Holdings. Beckham Brand Holdings was founded in 2014, and now that Beckham has bought out the minority stake held by Simon Fuller, his longtime business partner and creator of the American Idol talent show, Beckham and his wife, Victoria, now have full control. More at the 🔗 in our bio. (📸: Oscar Gonzalez/NurPhoto via Getty Images)
As facial recognition technology raises concerns about how it could lead to privacy and civil rights violations—especially for people of color—San Francisco became the first city to ban its use. But some worry a blanket ban hinders the ability of the police to find missing people and crime suspects. The law would affect police — but not airports or private businesses. More at the 🔗 in our bio. (📸: Associated Press/Eric Risberg)
This total revamp and reinvention of a Riviera-inspired California estate built in the 1920s is a nice architectural tour of the type of interiors you don't see much anymore. Built by Birge Clark, the so-called best-loved architect by Palo Alto magazine, who was most known for designing several Stanford buildings, the Palo Alto Post Office and the President Hotel, this house shows off some of his signature style when applied to a residential building. Click the link in our bio to see more of the$16.8 million 7,000-square-foot house with four bedrooms and six bathrooms. (📸: Todd Clancy)
Eva Longoria, Actress, Producer, Director, Entrepreneur & Philanthropist will be headlining our seventh annual Forbes Women’s Summit in New York, June 17-18. More details at the link in our bio. (📸: Stephanie Diani)
Do you live to work or work to live?
It’s been a rollercoaster of a year for global markets: Stocks saw both major gains and losses as volatility ticked upwards, trade tensions between the United States and China heated up, and many companies got a boost from new American corporate tax legislation. Forbes’ 17th annual ranking of the world’s largest public companies is a reflection of the state of the global economy today: who’s on top, who’s growing and who’s seen better days. Click the 🔗 in our bio to see the #Global2000 list of the world’s largest public companies. (📸: Getty)
Harry’s is selling to the owner of Schick Razors for $1.37 billion and is the latest example of disruptor joining disrupted. This latest wave of buyouts, including Harry’s/Edgewell Personal Care (the company that owns Schick, Wilkinson and several other personal care brands and that at one time was part of Energizer) is making some people say it’s the result of legacy businesses understanding they need to change to adapt to new consumers. And while there is certainly truth in that, one can argue just as correctly the opposite: that the disrupters are selling because they realize they’ve taken their businesses about as far as they can go under their direct-to-consumer model and it’s time to cash out. (📸: AP Photo/Mary Altaffer)
Governments are looking to “Smart Islands” for high tech and low carbon solutions. Islands worldwide are positioning themselves as incubators as they work towards becoming self-sufficient & reducing carbon footprints, leading to the adoption of new smart technology. The Isles of Scilly will be positioned as the UK’s test lab, the project includes installing renewable energy, integrating a smart-grid system that keeps energy within the same loop and reducing the islands’ reliance on fossil fuels. Real-time analysis will show where improvements can be made and which sectors have the most to gain, and will then affect the next phase of improvements - a fact-based development strategy that mirrors science in how it self-corrects and adapts itself based on new findings. The pioneering island grid experiments have given opportunities to apply the technology to the mainland grid. More about the concept at the 🔗 in our bio. (📸: Getty)
Is your courage unshakable?
The world’s first digital only blockchain clothing sold at auction this past weekend for $9,500. Digital clothing is not readily accessible to the masses yet, but it is getting closer. Digital fashion pioneers The Fabricant, create digital clothing by harnessing 2D garment pattern-cutting and 3D design software, coupled with film rendering tools to create hyper-real clothing. To ‘wear’ the couture, there is a 28-day window for the new owner to provide a photo of the future wearer to the creators in order for them to custom fit the digital garments. As a blockchain digital asset, the unique existence of the garment makes it both clothing and (crypto) currency. More at the 🔗 in our bio. (📸: Julien Boudet)
@badgalriri’s first luxury brand with LVMH is a milestone for fashion. “Fenty” will be based in Paris and will be made up of ready-to-wear, shoes and accessories. This marks several firsts for LVMH, the holding company mainly builds its brands by acquiring them outright; rarely does it launch an original brand on its own. Rihanna, then, will become the first woman to partner with LVMH on creating a new brand from the ground up. She is also the first woman of color to lead an LVMH brand—two milestones that have taken up to now to achieve. (📸: Evan Agostini/Invision/AP)
United has just debuted its new Premium Plus cabin on long haul flights. Premium Plus, aka the “purple section,” for the distinctive color of the seats, can be found on most 777s and all 787-10 aircraft (new for United’s fleet, which just received the first one). Premium Plus will be offered on 21 trans-Atlantic, trans-Pacific and South American routes by the end of this month. The Premium Plus seats are bigger and recline further, but they also come with very comfortable Saks Fifth Avenue bedding and comprehensive amenity kit, as well as broad armrests and well located in-seat power and USB under the armrest. (📸: Larry Olmsted)
Some TV "traditions" like the Victoria's Secret fashion show and the Miss America pageant are losing their relevance with today's audiences. According to a memo sent last week to employees by the brand’s corporate L Brands CEO Les Wexner, announced that “going forward we don’t believe network television is the right fit” for its annual fashion show, which has been shown on CBS and ABC for nearly two decades. (📸: Evan Agostini/Invision/AP)
Angie’s List took seven of the past’s most eccentric future-home ideas and brought them to life in a series of photorealistic renderings. To create the project, the their research team set out to identify concepts for houses of the future created between 1900 and 1970. They recreated concepts from different decades that included various building materials, construction techniques and architectural styles. One of the ideas, titled ‘Rolling Houses’ (1930s): The September 1934 issue of ‘Everyday Science and Mechanics’ magazine assured readers that spherical houses would soon become highly fashionable, even if the appeal of living in a giant hamster ball isn’t immediately obvious. The innovation was intended to make the remote construction and delivery of new homes more straightforward, as traveling in the ball would be a bad idea if you value your fine china. Click the 🔗 in our bio to see the others. (📸: Angie’s List)
Rebel mentors can change the mental health of an entire company. When one person stands up and talks openly about their mental health or learning disability, it creates a strong, positive connection with others. The success of an entire company is determined by leadership's openness about mental health and its acceptance of diverse thinkers. Case in point: Richard Branson, founder of Virgin Group Ltd., who openly speaks about his dyslexia. Click the 🔗 in our bio to read more about how to lead by example when it comes to mental health. (📸: Anthony Kwan/Bloomberg)
Satellite imagery revealed that between 14,500 and 25,000 penguin eggs or chicks drowned when the Antarctic sea ice that their colony was located on was destroyed by severe weather and thinning ice. Emperor penguins are the heaviest of the penguin species so they depend upon large patches of sea ice that are strong enough to support the combined weight of thousands of birds from April, when the adults arrive at the colony, through December, when the chicks fledge. Thus, they experience large annual variations in breeding success, but this period of prolonged breeding failure for this particular colony is unprecedented in the historical record. (📸: Michael Van Woert/Public Domain)
🏎💨 Just in time for the 50th anniversary of the original production of "The Italian Job," Lamborghini’s in-house restoration shop, Polo Storico, has certified Miura P400 chassis #3586 is the original and "long lost" star of that movie's opening sequence. Photos of the interior at the 🔗 in our bio. (📸: Lamborghini)
Pax Labs CEO says CBD is just hype. The CEO of one of the largest manufacturers of cannabis vaporizers and accessories says CBD, the non-intoxicating form of cannabis, is overhyped. Pax, which closed a $420 million funding round in April, is a beneficiary of this “overhyped” CBD market, which is expected to reach $22 billion by 2020, according to cannabis research firm Brightfield Group. And it does so while avoiding the byzantine regulations of the cannabis industry. More at the 🔗 in our bio. (📸: 2018 Bloomberg Finance)
College town Lawrence, Kansas has been named one of the 25 #BestPlacesToRetire in the U.S., thanks in part to its strong economy and bikeability. Not the right place for you? You can find the full list at the link in our bio. (📸: @marcgomes)
Happy Mother's Day
Holland, Michigan has proven to be one of the best cities for small businesses to thrive in. And being a small city with a population of just over 33,000, Holland can offer many perks and advantages for new business owners willing to give it a try. Low cost of housing — the average two bedroom apartment is $840 per month to rent, and a high concentration of talents make it an appealing city for the booming startup ecosystem. (📸: Getty)
A spectacular Diamond Bar estate in San Gabriel Valley in eastern Los Angeles County will be sold at auction with no reserve on June 1st. The 7,249-square-foot contemporary mansion, which was built in 2005, recently had a renovation that cost more than $2 million. The home is located in The Country, a 24-hour guard-gated residential community that offers its residents many amenities including 24-hour security, lighted tennis courts, clubhouse, swimming pool, children's playground, walking trails, and a 134-acre untouched wilderness park complete with a natural stream and abundant wildlife. (📸: Elite Auctions)
Leading life sciences and healthcare companies Pfizer Inc., McKesson Corporation, AmerisourceBergen Corporation, and Premier Inc. have all joined a working group that is using blockchain technology for supply chain management. The blockchain-based protocol will dramatically improve the complex process of chargebacks, which is a business inefficiency in the pharmaceutical industry. (📸: Getty)
What kind of silver spoon was little Archie Harrison Mountbatten-Windsor born with in his mouth? Probably a gold one. After all, his great-grandmother lives like a queen. Take a look inside Queen Elizabeth’s $500 million fortune at the link in our bio. (📸: Stuart C. Wilson/Getty Images
The Roborace league has just kicked off a series of engagements in Europe and the United States, and while it was originally going to tour as a self-driving expo and warmup to the still-fresh Formula E all-electric racing series, it's been somewhat rethought to include human drivers in electric "DevBot 2.0" Le Mans Prototype (LMP) style cars - but just for the first half of the race. After that, the machines truly take the wheel and the cars race without a human driver. (📸: Roborace)
Expand your perspective.