In this week’s edition of The Prototype, we look at the booming space industry, better space weather forecasts, the first medical evacuation from space and more. To get The Prototype in your inbox, sign up here. SpaceX’s expected 2026 IPO could be an inflection point for the industry. AFP via Getty Images AST SpaceMobile CEO […]
Read More
Derek Stevens, owner of Circa, The Golden Gate and The D, took a big gamble on remaking Downtown Las Vegas. He now has a portfolio of properties worth more than $1 billion—including the world’s largest sportsbook and Sin City’s biggest pool. At nearly six o’clock on a Tuesday night in late December, about 500 gamblers […]
Read More
Current Climate brings you the latest news about the business of sustainability every Monday. Sign up to get it in your inbox. UCG/Universal Images Group via Getty Images The rapid growth and impact of massive data centers, especially for AI and cryptocurrency companies, this year has had big economic benefits, especially for construction and design […]
Read More
With several titanic box office successes—and a third Avatar film expected to gross more than $2 billion—the Oscar-winning director is now in elite company in Hollywood. One of the biggest surprises in Hollywood on December 8—at least among news not related to the battle for Warner Bros. Discovery—was Avatar: Fire and Ash not being nominated […]
Read More
Executive chairman Enki Tan is revving up Giti Tire to enter the global top ten ranks as a major supplier to the world’s EV makers. It was a clear September morning in Northern Germany when Chinese EV giant BYD’s electric hypercar Yangwang U9 Xtreme blasted to a record speed of 496.22 kmph at the ATP […]
Read More
Edwin Soeryadjaya (left) and Garibaldi Thohir. Soeryadjaya: Antara Foto/Asprilla Dwi Adha; Thohir: Ully Zoelkarnain This story is part of Forbes’ coverage of Indonesia’s Richest 2025. See the full list here. The rocketing price of gold, which peaked at nearly $4,400 per ounce in October, has benefited several fortunes tied to the metal. Garibaldi Thohir and […]
Read More
Otto Toto Sugiri. Ahmad Zamroni for Forbes Asia This story is part of Forbes’ coverage of Indonesia’s Richest 2025. See the full list here. In what was a volatile year, Indonesia’s benchmark stock index shot up 17%, helping lift collective wealth to a record $306 billion from $263 billion last year. To attract investors, The […]
Read More
A health savings account (HSA) can be used to cover out-of-pocket costs with tax-advantaged savings. getty The IRS has released new guidance on updates to Health Savings Account (HSA) as part of the One Big Beautiful Bill Act (OBBBA). OBBBA expanded eligibility for HSAs and updated high-deductible health plan (HDHP) rules. The guidance explains the […]
Read More
Medline’s founding family (from left to right): Jim Abrams, Charlie Mills and Andy Mills. Jeff Sciortino for Forbes The Mills family cashed out a majority stake in the family’s medical supplies firm to private equity in 2021. But the coming $50 billion IPO shows that even what they continue to hold is worth a fortune. […]
Read More
Current Climate brings you the latest news about the business of sustainability every Monday. Sign up to get it in your inbox. The Trump administration’s plan to weaken U.S. fuel economy rules, claiming it will make new cars about $1,000 cheaper for consumers – presumably because automakers can use less sophisticated powertrains – ignores a […]
Read More
Fred Moll, the cofounder of $200 billion Intuitive Surgical, has invested in some 15 companies building robots that could help make both complex and common surgeries more accessible to everyone. Dr. Fred Moll left the practice of medicine more than four decades ago. But he’s responsible for some 3 million surgeries a year, done by […]
Read More
Getty Images Michael Bloomberg, who donated $600 million in 2024 to support medical schools at four historically Black colleges and universities (HBCUs), has a new plan to back Black education: Funding K-12 charter schools on HBCU campuses. On Thursday, the billionaire former New York City mayor’s Bloomberg Philanthropies and the education nonprofit City Fund announced […]
Read More
The future of sports is already here thanks to these young all-stars who are winning on and off the field. By Brett Knight, Justin Birnbaum and Sofia Chierchio Amid the artificial intelligence revolution sweeping across countless sectors, Camb.ai cofounder Akshat Prakash is convinced he can harness the technology to transform live sports. His startup, which […]
Read More
Tech giants want to double A.I. electricity consumption in 5 years by enough to power more than 30 million homes. America can do it. Between now and 2030, the giants of A.I. like OpenAI, Google, Microsoft, Amazon and Meta aim to more than double the computing power dedicated to growing and operating their non-human minds. […]
Read More
Google CEO Sundar Pichai, CEO of Google and Alphabet Getty Images Welcome back to The Prompt, When ChatGPT first amazed the world three years ago, Google was caught off guard, struggling to ship AI products that competed with OpenAI and Anthropic. But with the launch of Gemini 3, things have changed. It’s no longer an […]
Read More
On the brink of insolvency five years ago, the team is now dominating on the Formula 1 track—and, under the leadership of CEO Zak Brown, building up its sponsorships to rival Ferrari and Mercedes. When McLaren drivers Lando Norris and Oscar Piastri crossed the finish line in third and fourth place at the Singapore Grand […]
Read More
With investors racing to get into F1, the ten teams on the grid are now worth $3.6 billion on average, and the leaders of the pack even outpace some NFL and NBA franchises. When the news broke last week that Toto Wolff, the billionaire team principal of the Mercedes Formula 1 team, was in advanced […]
Read More
Esso fuel station in Singapore ExxonMobil Chandra Asri Pacific—controlled by Indonesian tycoon Prajogo Pangestu—said it has obtained $750 million in financing from New York-based private equity firm KKR to support the acquisition of Esso petrol stations in Singapore. Last month, Chandra Asri agreed to buy the 60 Esso petrol stations in the Lion City from […]
Read MoreMalaysian Media tycoon Tiong Hiew King reads a copy of the Chinese-language Malaysian daily, Nanyang Siang Pau, in Kuala Lumpur, 23 April 2007. Tiong Hiew King on 23 April signed deals to merge his three publishing firms in Malaysia and Hong Kong aimed at creating the largest Chinese-language media group outside China. MALAYSIA OUT NO […]
Read MoreRebellions cofounder and CEO Sunghyun Park. Jae-hyun Kim for Forbes Asia Kindred Ventures and Top Tier Capital Partners joined a $260 million funding round for Rebellions, an AI chip unicorn from South Korea. The round is an extension of Rebellions’ Series C in September, which valued the startup at $1.4 billion. Earlier Series C investors […]
Read More
NEW YORK, NEW YORK – NOVEMBER 04: New York City Democratic mayoral candidate Zohran Mamdani celebrates as he takes the stage at his election night watch party at the Brooklyn Paramount on November 4, 2025 in the Brooklyn borough of New York City. (Photo by Michael M. Santiago/Getty Images) Getty Images What would be the […]
Read More
The IRS Direct File program is no longer available. (Photo by Tasos Katopodis/Getty Images for Economic Security Project) Getty Images for Economic Security Project We knew that it was coming, but now we know for sure: Direct File, the free tax e-filing option offered by the Internal Revenue Service, has been shelved by the Trump […]
Read More
Robert F. Smith announced he would pay off the student loan debt of the 396-student graduating class at Morehouse College in 2019. Getty Images On Monday, Howard University announced an unrestricted $80 million donation from billionaire philanthropist MacKenzie Scott—the latest in a string of gifts Scott has made to historically Black colleges and universities over […]
Read More
Tax measures are on the ballots in several state and local governments this year. getty Headed to the polls today? Tax measures are on the ballot for millions of taxpayers, but typically as local-level voting issues. Only a handful of states, notably Colorado, Texas, and Washington, face state-level ballot questions. Here’s a look. Colorado In […]
Read More
A modular battery microgrid powers Redwood Materials’ Nevada campus. Redwood Materials Redwood Materials, the leading U.S. recycler of lithium-ion batteries and a growing supplier of materials for new ones, just raised $350 million to expand its ability to supply grid-scale energy storage systems as electricity demand, especially for AI data centers, surges. The round, led […]
Read More
The IRS has offered some guidance on the Employee Retention Credit in the way of FAQs. getty Taxpayers and tax practitioners assumed that the One Big Beautiful Bill Act (OBBBA) would address some unanswered questions related to the controversial Employee Retention Credit (ERC) program—and it did. The IRS has now issued FAQs to help taxpayers […]
Read More
The Rivian founder and CEO expects the small SUV R2, priced from $45,000, to be fully competitive with Tesla’s top-selling Model Y when sales begin early next year. Rivian has had a rocky time since it began selling electric vehicles in 2021. It missed initial volume goals, leading to back-to-back years of weak sales. Then […]
Read More
In the 1990s, Muhlenkamp Fund’s clever value investing formula made it a star among no load mutual funds. Then the long tech bull market left it in the dust. A new generation is making a comeback. Twenty years ago Wexford, PA-based Muhlenkamp Fund was a perennial star on Forbes annual mutual fund Honor Roll list. […]
Read More
A group of Florida friends thought it would be fun to open a restaurant in the 1980s that “they couldn’t get kicked out of.” Now in their 70s, they’re buying back franchises with a plan to restore the brand—from the signature wings to the orange shorts—to its cheeky glory. Last winter, Neil Kiefer, CEO of […]
Read More
Sage Care founders (left to right) Chris Blumenberg, Caesar Djavaherian and Justin Ho Sage Care Startup Sage Care is coming out of stealth with $20 million in funding and customers that include Bronson Healthcare and White Plains Hospital. Justin Ho knows a lot about navigation. He’s quarterbacked Uber’s self-driving and mapping strategy and built dispatch […]
Read More
The Fanjul family has been wooing politicians for decades, but their bet on the Trump administration is their best yet, after the president added tariffs for foreign competitors and pushed Coca-Cola to use its cane sugar to make American soda great again. To celebrate Donald Trump’s second inauguration earlier this year, Coca-Cola CEO James Quincey […]
Read More