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Forbes Daily: How Elon Musk’s 2024 Political Donations Have Paid Off

May 27, 2025 - forbes.com
The Forbes Daily newsletter highlights the significant valuations of startups like OpenAI, Stripe, and SpaceX, which are influencing the rankings of top venture capitalists on Forbes’ Midas List. Sequoia investor Alfred Lin tops the list, benefiting from early investments in companies like Airbnb, DoorDash, and OpenAI. The newsletter also covers Elon Musk's political donations, Trump's tariff negotiations with the EU, and various business deals, including WiseTech Global's acquisition of E2open. Additionally, it discusses the impact of AI on the economy, Southwest Airlines' new baggage fees, and the challenges facing the cannabis industry under President Trump.

The newsletter also features a cover story on Indian billionaire Kiran Mazumdar-Shaw, who founded Biocon, a leading producer of biosimilars, which are cheaper alternatives to biologic drugs. Her company has significantly impacted the pharmaceutical industry by making life-saving drugs more accessible and affordable. The newsletter concludes with insights into the rising price of gold due to central banks' increased purchases, advice for the graduating class of 2025, and a quiz about Memorial Day weekend box office records.

Key takeaways:

  • Sequoia investor Alfred Lin tops Forbes’ Midas List due to successful investments in companies like OpenAI, Airbnb, and DoorDash.
  • Elon Musk, the largest individual donor in the 2024 election cycle, plans to scale back political donations but has benefited from the Trump Administration's policies.
  • Southwest Airlines ends its free baggage policy, introducing fees for checked bags and a new low-cost fare tier.
  • Indian billionaire Kiran Mazumdar-Shaw's company Biocon focuses on biosimilars, significantly reducing patient costs and expanding globally.
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