Additionally, the article provides a brief overview of recent developments in markets, tech, and business. It mentions private equity's interest in 401(k) plans, the impact of retail earnings on stock prices, and Nvidia's response to market reactions. In tech, it highlights Meta's executive bonuses, Musk's new data center, and Big Tech's lobbying efforts. In business, it discusses IRS layoffs, changes in the James Bond franchise, and legal issues surrounding startup founder Charlie Javice. Other news includes Citigroup's DEI changes, MrBeast's comments on mental health, and various societal and economic updates.
Key takeaways:
- Elon Musk's assets have significantly increased in value since Donald Trump's election victory, with Tesla leading the gains.
- Private equity firms are interested in becoming a part of 401(k) investments, but face litigation risks.
- Meta has approved bonuses of up to 200% of company executives' salaries to motivate and reward them for company achievements.
- The IRS has begun firing probationary workers amid tax-filing season, potentially affecting enforcement and tax evasion roles.