
<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Pope Francis had a restful night Saturday, the Vatican said Sunday morning, after the 88-year-old leader of the Catholic Church suffered a respiratory crisis, putting him in critical condition following his week-long hospitalization for a lung infection.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>“The night passed quietly, the pope rested,” The Vatican said in a brief statement early Sunday, as quoted by the&nbsp;<a href="https://apnews.com/article/vatican-pope-pneumonia-06324d49846f26a24acec1da5fc74ab2" rel="noreferrer noopener" target="_blank">Associated Press</a>.</p>



<p>It then followed up later Sunday saying Francis is conscious and tests are still being conducted on him, and he is also receiving supplemental oxygen.</p>



<p>The Vatican said Saturday Francis suffered a “long asthmatic respiratory crisis,” days after he was hospitalized for pneumonia.</p>



<p>Francis “continue[d] to be alert” Saturday, but was more ill than he was Friday, the Vatican said.</p>



<p>Francis has also received blood transfusions following tests that indicated a condition associated with anemia, the AP reported, and&nbsp;<a href="https://apnews.com/article/pope-francis-pneumonia-hospital-b211a400c4cedc1f419d932447cfc189" rel="noreferrer noopener" target="_blank">doctors expect</a>&nbsp;he will remain hospitalized through the next week.</p>



<p>The pope’s medical team previously said Friday his condition is not life-threatening, but that he is “not out of danger.”</p>



<h2 class="wp-block-heading" id="h-crucial-quote">Crucial Quote</h2>



<p>The Vatican released an Angelus&nbsp;<a href="https://www.vatican.va/content/francesco/en/angelus/2025/documents/20250223-angelus.html" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;from Pope Francis on Sunday, in which the pope remarked on the upcoming third anniversary of the war in Ukraine and thanked the public for their messages of support about his hospital stay, asking people to “pray for me.” “I am confidently continuing my hospitalization at the Gemelli Hospital, carrying on with the necessary treatment; and rest is also part of the therapy!” Pope Francis said, as translated by The Vatican. “I sincerely thank the doctors and health workers of this hospital for the attention they are showing me and the dedication with which they carry out their service among the sick.”</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">What To Watch For</h2>



<p>A more detailed update on Francis’ condition is expected later Sunday.</p>



<h2 class="wp-block-heading" id="h-what-do-we-know-about-the-pope-s-health">What Do We Know About The Pope’s Health?</h2>



<p>The pope has pneumonia in both lungs, as well as bacterial, viral and fungal infections, according to his&nbsp;<a href="https://apnews.com/article/pope-francis-pneumonia-hospital-b211a400c4cedc1f419d932447cfc189" rel="noreferrer noopener" target="_blank">doctors</a>. His doctors have given him supplemental oxygen when necessary, and they are treating him with a drug therapy they say Francis is responding to. Doctors also prescribed Francis “absolute rest,” and several of his public events have been canceled. Doctors have said the primary threat to Francis’ health would be the onset of sepsis, a serious condition that could arise from pneumonia complications, though Francis has not shown signs of sepsis so far.</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>Francis, 88, has led the church as pope for 12 years since his election in 2013. Francis has been hospitalized several times in recent years, including one hospital stay in July 2021 for a narrowing of his large intestine, and another in 2023 for bronchitis. Francis has chronic bronchitis and a history of respiratory issues.</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://apnews.com/article/pope-francis-pneumonia-hospital-b211a400c4cedc1f419d932447cfc189" rel="noreferrer noopener" target="_blank">Pope Francis isn’t out of danger but his condition isn’t life-threatening, medical team says</a>&nbsp;(Associated Press)</p>


Vatican Pool Images 2024

Pope Francis Had Restful Night After Reports Of Critical Condition


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Apple announced Wednesday a new addition to its iPhone 16 series, debuting the iPhone 16e to customers, who will soon be able to pre-order the lower-cost model that includes some of the bells and whistles of Apple’s latest iPhone lineup.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>The iPhone 16e will be available for pre-order Friday and launch on Feb. 28, according to&nbsp;<a href="https://www.apple.com/newsroom/2025/02/apple-debuts-iphone-16e-a-powerful-new-member-of-the-iphone-16-family/" rel="noreferrer noopener" target="_blank">Apple</a>, which said the phone would deliver fast performance and “breakthrough battery life” at a more affordable price than other iPhone 16 models.</p>



<p>The iPhone 16e will be powered by the same A18 chip found in the more expensive iPhone 16 base model and has the same 6.1-inch screen the base model has.</p>



<p>The new phone has a 48 megapixel camera system and can shoot video at 4k resolution at 60 frames per second.</p>



<p>The product will also feature Apple Intelligence, the phonemaker’s artificial intelligence tool limited to the iPhone 15 and 16 lineups.</p>



<h2 class="wp-block-heading" id="h-how-much-does-the-iphone-16e-cost">How Much Does The Iphone 16e Cost?</h2>



<p>The iPhone 16e starts at $599 for its 128 gigabyte model, making it $200 cheaper than the base iPhone 16 model. The 256 GB iPhone 16e is priced at $699, while the 512 GB version is $899.</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>Apple has typically released affordable versions of its iPhones through its iPhone SE lineup, which featured smaller displays, lightning ports for charging and lower-performing chips. The iPhone 16e’s release also comes just five months after the release of the iPhone 16 lineup, bucking Apple’s trend of yearly iPhone releases. The tech giant reported $69.1 billion in&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/01/30/apple-earnings-preview-record-results-expected-with-china-ai-concerns-in-focus/">iPhone sales last quarter</a>, falling short of Wall Street estimates by nearly $2 billion. Apple’s sales in China also came up $2.4 billion short of expectations during the quarter, generating $18.5 billion in the country dominated by the Huawei and Xiaomi smartphone brands. However, Apple managed 4% year-over-year sales growth and 10% net profit growth.</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://www.forbes.com/sites/dereksaul/2025/01/30/apple-earnings-preview-record-results-expected-with-china-ai-concerns-in-focus/">Apple Earnings: Record Results Even As iPhone, China Sales Fall Short Of Forecasts</a>&nbsp;(Forbes)</p>


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Apple Announces Lower-Cost iPhone Launching This Month


<p><a href="https://www.forbes.com/"></a><a href="https://www.forbes.com/search/"></a><a href="https://www.forbes.com/"></a><a href="https://www.forbes.com/"></a><a href="https://www.forbes.com/sites/johnhyatt/"></a><strong>Nigerian billionaire Aliko Dangote broke his government’s oil monopoly by building the largest petroleum refinery in Africa. So far, only he has reaped the rewards.</strong></p>



<p><strong><abbr>A</abbr>liko Dangote takes a deep breath,</strong>&nbsp;before reflecting on the odyssey of building Africa’s largest oil and gas refinery. “This is a very, very big relief,” says Dangote, who is speaking with&nbsp;<em>Forbes&nbsp;</em>via video conference from an office space at the refinery. Between remarks, the tycoon waves away employees off-screen vying for his attention. “It is actually removing something off my chest,” he continues, as if speaking with his therapist. “Because nobody ever gave us the chance to prove this through.”</p>



<p>After 11 years, $23 billion in investment and innumerable headaches, the Dangote Refinery finally began operating last year. Located on a sprawling 6,200-acre campus in Nigeria’s Lekki Free Zone about an hour outside Lagos, the refinery processed around 350,000 barrels of crude per day (b/d) in the second half of 2024. In January, it processed 500,000 b/d. At full capacity, which is expected next month – a whopping 650,000 b/d – the Dangote Refinery will be the seventh largest refinery in the world by production and the biggest in Africa. Its adjacent petrochemical complex has an annual production capacity of 3 million metric tons of urea, making it Africa’s largest fertilizer producer.</p>


<div class="wp-block-image">
<figure class="aligncenter"><img decoding="async" src="https://imageio.forbes.com/specials-images/imageserve/67afbd80ac49904e68ea108d/web-Dangote-8x10-cover-02-2025/1960x0.jpg?height=888&amp;width=711&amp;fit=bounds" alt="web-Dangote-8x10-cover-02-2025"/></figure></div>


<p>Dangote’s refinery is already impacting global energy markets. Imports of gasoline into Nigeria are on pace for an eight-year low, affecting the European refiners that traditionally sold to Nigeria, according to energy intelligence firm Vortexa. And thanks to the refinery, Nigeria has become a net exporter of jet fuel, naphtha (a solvent used in varnishes, laundry soaps, cleaning fluids) and fuel oil,&nbsp;<a href="https://www.spglobal.com/commodity-insights/en/news-research/latest-news/crude-oil/112224-feature-refiners-brace-for-margin-pain-as-nigerias-dangote-refinery-scales-up" rel="noreferrer noopener" target="_blank">according to</a>&nbsp;S&amp;P Global.</p>



<p>With his project coming to fruition, Dangote is now worth an estimated $23.8 billion—almost double what he was worth last year. (He insists he&#8217;s even richer). Already Africa’s wealthiest person, the 67-year-old Nigerian moves back into the ranks of the top 100 richest since 2018, according to&nbsp;<em>Forbes’&nbsp;</em>Real-Time Billionaires List.</p>



<p>It seemed not long ago that Dangote’s refinery might never come on line. In late 2023, some observers expressed doubt the plant would even work. Even once operations began early last year, Dangote struggled to source crude oil from the Nigerian National Petroleum Corporation (NNPC), Nigeria’s all-important state-owned oil company, threatening the project’s financial viability.</p>



<p>Dangote says the refinery is part of a larger mission: He wants to make Nigeria, one of the world’s largest producers of crude, into a producer of refined petroleum products to allow it to compete with European refineries and supply gasoline to Nigerians. Prior attempts by the Nigerian government to build and operate large-scale refineries ended in failure, leaving Nigerian consumers and businesses reliant on petrol imports, mostly from Europe. Until recently a fuel subsidy kept gasoline affordable for consumers, but the program has strained Nigeria’s finances and been mired in corruption allegations. Billions of dollars were siphoned off by regulators and middlemen over a period of decades in a scheme that disincentivized maintenance of state-owned refineries, many of which sit idle or in a state of disrepair. “The advent of the Dangote Refinery is transformative for the dynamics of Nigeria&#8217;s energy market,” says Clementine Wallop, an Africa analyst at Horizon Engage, a geopolitical consulting firm.</p>



<p>Dangote wants to provide a blueprint for industrialization across Africa. “We have to build our own nation by ourselves. We have to build our own continent by ourselves, not [rely on] foreign investment,” he says. Africa has been “a mere dumping ground for finished products,” Dangote argues, and his refinery represents “a pivotal step in ensuring that Africa has the capacity to refine its own crude oil, thereby creating wealth and prosperity for its vast population.”</p>



<p>In Nigeria, that hasn’t happened yet. In fact, gas prices have increased 60% in the African nation over the last six months as Dangote’s refinery has ramped up production, according to market intelligence firm Trading Economics. (And that’s before accounting for the country’s inflation, which was 29% in December.) The driver of these cost increases is the elimination of Nigeria’s fuel subsidy, which President Bola Tinubu cut after assuming office in May 2023. Doing so was made possible because of the hope of Dangote’s refinery, but it didn’t last long. The subsidy was quickly reinstated after petrol prices tripled. Tinubu slashed the subsidy again last summer, causing prices to skyrocket a second time. Nigerians are especially sensitive to gas prices, as many businesses and households depend on fuel-powered generators, given the country’s unreliable electric grid. Protesters have taken to the streets of Lagos and other cities to vent their frustrations about increasing gas prices.</p>



<p>Dangote blames the state-owned Nigerian National Petroleum Company (or NNPC), which oversaw Nigeria’s fuel subsidy and which both produces crude and sells refined petrol products. Initially, the NNPC agreed to acquire a 20% stake in Dangote’s refinery with an upfront payment of $1 billion, but later trimmed its stake to about 7% and demanded some of its money back. The NNPC also committed to supply Dangote with 300,000 barrels of crude oil per day, but has failed to fulfill its obligation. The NNPC did not respond to a request for comment.</p>



<p>In September, Dangote sued the NNPC in an attempt to block it from continuing to import and sell refined petrol products, citing a 2021 law requiring domestic producers of crude to supply enough oil to local refineries to meet domestic demand. (That case remains ongoing). The NNPC&nbsp;<a href="https://www.cnbcafrica.com/media/6363746461112/naira-crude-deal-dangote-refinery-receives-first-supply-from-nnpcl/" rel="noreferrer noopener" target="_blank">began</a>&nbsp;supplying Dangote’s refinery with crude in October, but&nbsp;<a href="https://www.youtube.com/watch?v=f2RyMMLkmX8" rel="noreferrer noopener" target="_blank">said</a>&nbsp;last month that it may reduce its allocation. Dangote is unsparing in his criticism of the organization, which he says is part of his country’s “oil mafia.”</p>



<p>“The oil mafia are more deadly than the one in drugs, because with the oil mafia there are so many people that are involved,” says Dangote. “You might be wining and dining with them, but these are the guys that are really the masters of moving things around.” An anti-graft commission raided Dangote’s office a year ago, but he insists that he’s on good terms with President Tinubu. “We have an extremely, very good relationship. I’ve known him for a very long time,” he says.</p>



<p>While Nigerians are upset with economic conditions, most are not mad at Dangote. “He is seen in most parts of Nigeria as a hero,” says Zainab Usman, director of the Africa Program at the Carnegie Endowment for International Peace. “He is seen as a real industrialist who builds things.”</p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2025/02/GettyImages-1257252382.jpg" alt="" class="wp-image-64691" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/02/GettyImages-1257252382.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/GettyImages-1257252382-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/02/GettyImages-1257252382-768x512.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption"><strong><em>Stack towers and pipework at the Dangote Industries Ltd. oil (Photographer: Benson Ibeabuchi/Bloomberg via Getty Images)</em></strong></figcaption></figure>



<p>Born in 1958 to a wealthy family of traders in the city of Kano, Dangote always had ambition. He began his business career on the school playground at age 8 when he parlayed his allowance into a small-time confectionary venture. &#8220;I would use it to buy sweets, and I would give them to some people to sell, and they would bring me the profit,&#8221; Dangote&nbsp;<a href="https://www.forbes.com/sites/abrambrown/2015/03/04/the-little-known-15-billion-empire-of-africas-richest-man/">told</a><em>&nbsp;Forbes&nbsp;</em>back in 2015. After studying business at AlAzhar University in Cairo, he established an import-export trading venture in Lagos with the help of a $500,000 loan from an uncle. Political connections helped the young entrepreneur win “exclusive import rights in sugar, cement, and rice,” said a State Department cable unearthed by WikiLeaks.</p>



<p>In the late 1990s, Nigeria’s rulers began promoting domestic industry as the country transitioned from years of military rule into a democracy. Dangote capitalized on the change, securing tax incentives to build a sugar mill, flour refinery and cement factory. The cement business has been especially lucrative, generating gross margins of over 60% most years. (Prior to the opening of the refinery, publicly-traded Dangote Cement, of which Dangote owns 86%, accounted for the largest piece of his fortune.) As his empire grew, Dangote maintained goodwill with successive regimes, in large part because of his conglomerate’s focus on consumers. “I think he’s believed staunchly in the fact that Nigerians need products that he has to offer,” says Chika Ezeanya, a professor of African studies at Soka University of America. “Governments can come and go, policies can be changed, but the needs of the Nigerian consumer will only grow and expand.”</p>



<p>When Dangote first announced his refinery in 2013, his plan was to build the plant in southwest Nigeria. Dangote bought refinery technology from Honeywell UOP, a division of the American conglomerate, and brought in engineers from Engineers India Ltd., a state-backed engineering consulting firm, to help design the massive plant. His longtime lieutenant, Edwin Devakumar, a former World Bank engineer, was put in charge. The projected cost was around $10 billion. “It was the biggest risk of my life,” says Dangote about his decision to embark on the project. “If this didn’t work, I was dead.”</p>



<p>After three years of delays due to disputes with local officials, Dangote abandoned his plans to build on the original site. He forked over $100 million to Nigeria’s government to acquire land in its current location outside of Lagos, but due to that site’s swampy conditions, he had to dredge 65 million cubic meters of sand and construct a port to move it all. Along the way, construction displaced&nbsp;<a href="https://www.theguardian.com/global-development/article/2024/jun/03/lagos-nigeria-dangote-industrial-complex-refinery-fertiliser-plant#:~:text=7%20months%20old-,'There%20is%20nowhere%20to%20fish%20any%20more'%3A%20life%20in,of%20Nigeria's%20biggest%20industrial%20complex&amp;text=On%20the%20outskirts%20of,with%20floodlights%20and%20security%20cameras." rel="noreferrer noopener" target="_blank">thousands of people</a>, prompting local backlash. Then Covid hit, delaying and complicating the schedule. “I can spend the whole day telling you about these challenges,” Dangote sighs.</p>



<p>The costs accumulated—in part because Dangote kept insisting on making the refinery bigger than originally planned. He took out $5.5 billion in bank loans and sold off 3% stakes in his cement business to Dubai’s investment corporation and an Australian sovereign wealth fund in 2013 for about $300 million apiece; he later sold off other slices to private equity firm Gateway Partners and others for undisclosed sums. An intercompany loan for $10 billion from his holding company – which owns his cement, flour and sugar businesses – helped fund the refinery&#8217;s years of cost overruns. The total tab of nearly $23 billion was more than double initial projections.</p>



<p>The refinery still has about $3 billion in outstanding debt. In August, Fitch downgraded its rating on the publicly traded bonds due to “significant deterioration in the group&#8217;s liquidity position” following the refinery’s under-utilization last year due to lack of crude, as well as the plummeting value of Nigeria’sNaira, which has lost over 70% of its value against the dollar since June 2023 when Nigeria’s, central bank floated the currency. Dangote says that liquidity is not a problem, and that the refinery is sufficiently dollarized (meaning that his foreign customers pay in U.S. dollars) to withstand the Naira&#8217;s devaluation.</p>



<p>Facing these challenges, Dangote is determined to make the refinery a success. He has set up a family office in Dubai and his three daughters work for the family business in various capacities, yet most of his focus is still firmly in Nigeria, not on succession planning. The billionaire says that he still spends a lot of his time at his refinery, meeting with engineers and managers. Plus there are more challenges ahead—including building a subsea pipeline to transport natural gas from the Niger Delta to Lagos, and doubling output at the refinery’s fertilizer plant. He also says he wants to take the refinery public in the next year or two.</p>



<p>“I’ve been fighting battles all my life,” Dangote says, “and I have not lost one yet.</p>


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<p><strong>Abu Dhabi-based <strong>AppliedAI</strong>, which helps healthcare companies and insurers automate claims and billing, just raised $55 million in a deal led by G42 with Palantir and Bessemer</strong></p>



<p>Abu Dhabi is best known in tech for bankrolling foreign startups, venture funds and now AI mega projects like OpenAI’s infrastructure Stargate via its massive sovereign wealth funds. But the UAE also has a small but growing AI ecosystem.</p>



<p>One such startup, AppliedAI, which was originally founded in London in 2021 but moved to Abu Dhabi the following year to take advantage of government grants, has now raised one of the region’s largest early-stage venture funding rounds. G42, the AI lab controlled by United Arab Emirates’ national security adviser Sheikh Tahnoon Bin Zayed, has led a $55 million Series A round into the company, along with Palantir, Bessemer Venture Partners, McKinsey, and Accrete Capital. The new funding puts a $300 million pre-money valuation on the startup, which uses a mix of humans and AI to automate back-office jobs.</p>



<p>AppliedAI founder and CEO Arya Bolurfrushan has zeroed in on highly regulated insurances like healthcare, insurance and pharma that have mountains of paperwork that need to be manually processed. Among AppliedAI’s current clients are Abu Dhabi’s state-owned health group M42, American law firm Morgan &amp; Morgan and British drug safety monitoring company Qinecsa.</p>



<p>Bolurfrushan’s pitch is that his AI, and human reviewers, can process complex medical billing records or insurance claims faster and more accurately than traditional outsourcing companies like Cognizant, Concentrix and Wipro.&nbsp;<a href="https://jamanetwork.com/journals/jama/fullarticle/2785479" rel="noreferrer noopener" target="_blank">Studies</a>&nbsp;suggest that such paperwork and other administrative expenses count for at least 15% of the $4.9 trillion spent on healthcare in the United States annually.</p>



<p>“All our work is what we call high cost of error workflows where often human lives are on the line,” Bolurfrushan told&nbsp;<em>Forbes</em>. “You can’t afford hallucinations and that’s why we have an essential harmony between our AI and human agents.”</p>



<p>Bolurfrushan declined to reveal AppliedAi’s revenue but said that company had processed over 4 million pages of U.S. medical records in the last year alone.</p>



<p>Applied had previously raised $42 million in 2022 from G42 and Dubai’s ruling Al Maktoum family,&nbsp;<a href="https://www.bloomberg.com/news/articles/2022-11-17/uae-royals-back-ai-startup-founded-by-former-goldman-banker" rel="noreferrer noopener" target="_blank"><em>Bloomberg</em></a>&nbsp;reported. Bolurfrushan, a former Goldman Sachs banker, told&nbsp;<em>Forbes&nbsp;</em>the new cash would be used to further develop its AI tools, and expand its team to work with more clients in the United States and Europe.</p>



<p>G42, Abu Dhabi’s flagship AI project, received its own funding boost last year when Microsoft invested $1.5 billion to take a minority stake. That investment came as part of a deal for G42 to divest from China and end its work with Huawei over fears from American lawmakers that this could allow China’s tech giants to access U.S. AI technology and chips.</p>



<p>One investor in the deal, London-based venture fund Accrete, was also cofounded by Bolurfrushan.</p>



<p>The deal marks Bessemer’s first investment in the UAE in what is one of the region’s largest Series A rounds for a startup. “What AppliedAI has built enables the automation jobs to be done faster and cheaper but with a human in the loop,” Sofia Guerra, vice president of Bessemer Venture Partners, told <em>Forbes</em>.</p>


Asian business people team brainstorm meeting in sustainable office at night, using computer monitor. Discuss ESG (environmental social corporate governance) project planning. Responsible organization

AI Startup Raises One Of The Biggest Series A Rounds Ever For Middle Eastern Company


<p><strong>Feuding with Drake turned the ‘Not Like Us’ performer into hip-hop’s hottest artist. Now he will take music’s biggest stage in New Orleans—for free.</strong></p>



<p><strong><abbr>T</abbr>he effects of last summer’s rap feud</strong>&nbsp;between&nbsp;<a href="https://www.forbes.com/profile/kendrick-lamar/" target="_blank" rel="noreferrer noopener">Kendrick Lamar</a>&nbsp;and&nbsp;<a href="https://www.forbes.com/profile/drake/" target="_blank" rel="noreferrer noopener">Drake</a>&nbsp;continue to reverberate through the music industry, and the careers of its two combatants. This month,&nbsp;<a href="https://www.forbes.com/sites/conormurray/2025/01/15/drake-sues-universal-music-group-for-defamation-over-kendrick-lamars-not-like-us/">Drake made headlines for bringing a defamation lawsuit</a>&nbsp;against Universal Music Group for its role in the back-and-forth, while Lamar prepares for the biggest gig of his life—headlining the halftime show at Super Bowl LIX on February 9.</p>



<p>It’s hard to imagine how the 37-year-old Lamar, who for much of his career has been seen as a critical darling with a cult-like following, would have been chosen by halftime show executive producer Jay-Z and his Roc Nation for music’s biggest stage were it not for the beef and the series of diss tracks it produced. “Not Like Us,” Lamar’s anthemic takedown of hip-hop’s best-selling artist, hit more than a billion streams on Spotify in 2024 and spent a record-setting 21 consecutive weeks atop Billboard’s Hot Rap Songs chart.</p>



<p>“The feud between him and Drake made him bigger; there’s no one that can sit here and argue that,” says Antwan “Amadeus” Thompson Sr., a multi-platinum music producer. “But [the Super Bowl] is going to catapult [Lamar’s] career to a whole other level. And I think it’s very important that artists take advantage of this because all eyes will be on him.&#8221;</p>



<p>The exposure given to halftime performers, playing in front of more than 80,000 fans inside New Orleans’ Superdome and more than 100 million across the country on TV, is why the Super Bowl is considered the most prestigious gig on the music calendar.</p>



<p>Every artist on the planet wants to take that stage, even if it means performing for free.</p>



<p>And that’s exactly what they’re asked to do. As has been&nbsp;<a href="https://www.forbes.com/sites/zackomalleygreenburg/2016/02/05/why-coldplay-and-beyonce-wont-be-paid-for-their-super-bowl-halftime-gig/">the custom for halftime headliners</a>&nbsp;for many years, Lamar won’t be paid for his 12-to-14-minute performance, other than the negligible union-mandated minimum. (Last year’s headliner, Usher, reportedly received $671.)</p>



<p>The NFL and halftime presenting sponsor Apple Music do cover the cost of the production, which in many years stretches to more than $10 million for sets that don’t last longer than 15 minutes. Some recent artists have chosen to pay millions more from their own pockets to maximize the Super Bowl spectacle.</p>



<p>The tradeoff is well worth it. After last year’s show, Usher reportedly received a 550% bump in overall Spotify streams, similar to what other performers have experienced in recent years.&nbsp;<a href="https://www.forbes.com/sites/maddieberg/2021/08/04/fentys-fortune-rihanna-is-now-officially-a-billionaire/">Rihanna</a>, the headliner in 2023, snuck in a plug for her&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2024/06/04/rihanna-launching-fenty-hair-billionaire-pop-star-expands-beauty-empire/">Fenty Beauty</a>&nbsp;brand during her set that was worth an estimated $44 million in earned media.</p>



<p>Like many halftime performers before him, Lamar will ride the Super Bowl bump into a 19-stop stadium tour across North America this summer alongside SZA, who has already been announced as a guest star for the halftime show. The pair have two songs together, “Luther” and “Gloria,” on Lamar’s new album,&nbsp;<em>GNX</em>, which he surprise-released in December. In addition, a movie produced by Lamar and&nbsp;<em>South Park</em>&nbsp;creators Trey Parker and Matt Stone is set to debut in July, distributed by Paramount.</p>



<p>It all represents a major step-up for Lamar, a member of the&nbsp;<a href="https://www.forbes.com/sites/zackomalleygreenburg/2017/11/14/kendrick-lamar-conscious-capitalist-the-30-under-30-cover-interview/">Forbes 30 Under 30 class of 2014</a>&nbsp;who has won 17 Grammy Awards but never headlined stadium-sized shows before. His first taste came in 2022, when he was given a two-minute spot during Super Bowl LVI’s halftime performance led by Dr. Dre and Snoop Dogg, seen as a passing of the torch in West Coast rap.</p>



<p>Because Lamar is so closely identified with his hometown of Los Angeles, being chosen for this year’s Super Bowl in New Orleans was&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2024/09/09/nicki-minaj-and-others-seemingly-call-out-jay-z-for-picking-kendrick-lamar-for-super-bowl-over-lil-wayne-what-to-know/">a curious choice</a>. Since Jay-Z took on his role producing the halftime show in 2019, headlining artists have gotten younger, more diverse and more closely associated with the game’s host city. The obvious geographical choice in this case would have been New Orleans native and multi-platinum artist Lil Wayne.</p>



<p>“If I was Jay-Z, I would’ve absolutely gone with Lil Wayne,” says Thompson. He still believes a special guest appearance in the show is possible, but unlikely, in part because of Wayne’s allegiances to Drake, whom Wayne first discovered and signed to his Young Money label in 2008.</p>



<p>Yet Thompson admits that Lamar is unquestionably “the hottest artist in hip-hop” right now, and in the wake of the devastation left by January’s wildfire in Los Angeles, his selection suddenly has greater significance. One of the things fans admire about Lamar is that he raps about and advocates for substantive issues, whether it’s mental health or uniting the gangs in Los Angeles. Lamar’s music has a level of meaning and depth that are rare to see from a stage as big as the Super Bowl.</p>



<p>“He’s been the one to take stands during difficult times and talk about things that a lot of artists wouldn’t touch on,” says Thompson.</p>



<p>Jasmine Young, who serves as director of the Warner Music/Blavatnik Music Center at Howard University and previously worked on marketing campaigns at Def Jam records, agrees that the Super Bowl will boost Lamar’s career but adds that the NFL also stands to benefit from his cultural resonance just as much as he will benefit from its massive global audience.</p>



<p>“Nowadays people use hip-hop to sell their brands,” says Young. “You really can’t sell your brand without hip-hop.”</p>



<p>It’s a sentiment that echoes Lamar’s own words when he was announced for this year’s show back in September. “Rap music is still the most impactful genre to date,” Lamar said. “And I’ll be there to remind the world why. They got the right one.”</p>


Apple Music Super Bowl LIX Halftime Show

Why Kendrick Lamar Won’t Get Paid For The Super Bowl Halftime Show


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>CBS, Nickelodeon and other channels owned by Paramount will soon go dark on YouTube TV, as negotiations continue for both companies after they failed to reach a contract renewal to distribute Paramount’s channels on the streaming service.</p>



<h2 class="wp-block-heading">Key Facts</h2>



<p>YouTube&nbsp;<a href="https://blog.youtube/inside-youtube/youtube-tv-and-paramount-programming-update/" rel="noreferrer noopener" target="_blank">wrote</a>&nbsp;Wednesday that all Paramount content on the streaming service—including CBS, CBS Sports, MTV and Nickelodeon, among other channels—will become “unavailable” as early as Thursday.</p>



<p>Users will be offered an $8 credit if Paramount’s content is unavailable for an “extended period,” YouTube TV said.</p>



<p>Paramount—which launched a&nbsp;<a href="https://www.keepparamount.com/youtubetv/facts" rel="noreferrer noopener" target="_blank">separate website</a>&nbsp;for the dispute—claims YouTube TV is “attempting to pressure” the company toward “unfavorable and one-sided terms” in a new contract, alleging YouTube TV is “prioritizing their own interests over a fair agreement.”</p>



<p>Paramount said the company made a “series of offers” to YouTube TV, including an unspecified “comprehensive deal,” though YouTube TV says they are still “actively negotiating.”</p>



<p>Neither Paramount nor YouTube TV immediately responded to requests for comment.</p>



<h2 class="wp-block-heading">What Paramount Channels Will Be Affected?</h2>



<p>About 23 of Paramount’s networks would be pulled from YouTube TV, including CBS, Nickelodeon, Comedy Central, MTV, TV Land, Paramount Network, CMT, VH1 and BET, among others (Paramount has a&nbsp;<a href="https://www.keepparamount.com/youtubetv/channels" rel="noreferrer noopener" target="_blank">list of affected channels</a>&nbsp;by ZIP code). CBS News affiliates will also go dark, Paramount said, including Atlanta’s WUPA, Boston’s WSBK, KTXA in the Dallas-Fort Worth area, New York’s WLNY, Philadelphia’s WPSG, Pittsburgh’s WPCW, Sacramento’s KMAX, San Francisco’s KPYX, Seattle’s KSTW and Tampa Bay’s WTOG. YouTube TV warned users subscribed to Paramount’s Paramount+, SHOWTIME and BET+ will also be unable to access content, including any recorded shows.</p>



<h2 class="wp-block-heading">Big Number</h2>



<p>More than 8 million. That’s how many subscribers YouTube TV had as of Feb. 6, 2024,&nbsp;<a href="https://blog.youtube/inside-youtube/2024-letter-from-neal/" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to YouTube CEO Neal Mohan. That&nbsp;<a href="https://blog.youtube/inside-youtube/2024-letter-from-neal/" rel="noreferrer noopener" target="_blank">reportedly</a>&nbsp;makes YouTube TV the largest internet-based pay-for-TV service in the U.S. ahead of DirecTV Stream and Fubo.</p>



<h2 class="wp-block-heading">Key Background</h2>



<p>YouTube TV’s latest contract dispute follows the service&#8217;s latest price hike, after the company pushed the price tag for its basic package by $10 to $82.99 per month in January. Disney-owned channels went dark on YouTube TV in December 2021, after both companies failed to complete contract negotiations before a deadline. The channels—ABC, ESPN and National Geographic, among others—went dark for about three days before YouTube TV and Disney reached an agreement, which included YouTube TV&nbsp;<a href="https://www.cnn.com/2021/12/19/media/youtube-tv-disney-deal-reach-deal/index.html" rel="noreferrer noopener" target="_blank">lowering</a>&nbsp;its monthly subscription rate. NBCUniversal had a&nbsp;<a href="https://variety.com/2021/digital/news/nbcu-youtube-tv-reach-deal-1235079414/" rel="noreferrer noopener" target="_blank">similar dispute</a>&nbsp;with YouTube TV in October 2021, briefly threatening a blackout of NBC’s channels like NBC Sports and USA Network before the two companies reached an agreement before a deadline.</p>



<p></p>


Los Angeles Economy

Paramount Channels—CBS, Nickelodeon, MTV—Will Go Dark On YouTube TV: Here’s What To Know


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Japanese automakers Honda and Nissan announced on Thursday that they have ended discussions on a merger that would have created one of the largest automakers in the world after the two companies failed to reach an agreement on the structure of the deal.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>Both companies&nbsp;<a href="https://global.honda/en/investors/library/filings/filings2025021304/main/0/link/CY2025_20250213_TSEfling_2_e_1.pdf" rel="noreferrer noopener" target="_blank">issued</a>&nbsp;<a href="https://global.nissannews.com/en/releases/250213-00-e" rel="noreferrer noopener" target="_blank">statements</a>&nbsp;announcing the termination of the talks and said the decision was made to “prioritize speed of decision-making and execution of business measures” in a market that is being shaken by electric vehicles.</p>



<p>The statements pointed to a key disagreement between the two automakers over Honda’s proposal to change the structure of the deal, which was first announced in December.</p>



<p>Instead of establishing a joint holding company, Honda’s changed proposal called for Nissan to become its subsidiary “through a share exchange.”</p>



<p>Despite calling off the merger, the companies said they still intend to collaborate under a strategic partnership “aimed at the era of intelligence and electrified vehicles,” which was&nbsp;<a href="https://www.nissan-global.com/EN/IR/TSE/ASSETS/2024/PDF/20240315_tse_e.pdf" rel="noreferrer noopener" target="_blank">first announced</a>&nbsp;in March last year.</p>



<h2 class="wp-block-heading" id="h-how-have-the-markets-reacted-to-the-merger-cancellation">How Have The Markets Reacted To The Merger Cancellation?</h2>



<p>The price of Honda Motors’ Tokyo Stock Exchange-listed shares rose 2.14% to $9.30 (¥1,434) on Thursday, while Nissan’s shares fell to $2.70 (¥415), down 0.35%.</p>



<h2 class="wp-block-heading" id="h-what-about-mitsubishi">What About Mitsubishi?</h2>



<p>Mitsubishi, in which Nissan is the largest shareholder with a 24% stake,&nbsp;<a href="https://www.mitsubishi-motors.com/en/newsroom/newsrelease/2024/20241223_1.html" rel="noreferrer noopener" target="_blank">announced</a>&nbsp;in December that it had agreed with both Honda and Nissan to explore the possibility of participating or being involved in the merger. However, following Thursday’s announcement, Mitsubishi said it has also agreed to terminate its memorandum of understanding with the two companies “regarding the consideration of the structure for a tripartite collaboration.” However, like the other two automakers, Mitsubishi intends to collaborate under a EV and self-driving vehicle—focused “strategic partnership.”</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>The merger talks were&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2024/12/17/honda-and-nissan-in-merger-talks-amid-efforts-to-boost-ev-offerings-report-says/%5C">first reported</a>&nbsp;in mid-December and confirmed by the two companies a week later.&nbsp;<a href="https://asia.nikkei.com/Business/Automobiles/Honda-and-Nissan-to-begin-merger-talks-amid-EV-competition" rel="noreferrer noopener" target="_blank">According to</a>&nbsp;Nikkei, increased pressure in the EV market from competitors like Tesla and Chinese carmakers like BYD has been a key driving force behind the deal. The merger talks, however, stagnated quickly as Honda expressed concerns about Nissan’s financial health. In the first half the ongoing financial year for Nissan, the company&nbsp;<a href="https://www.nissan-global.com/EN/IR/FINANCIAL_RESULTS/ASSETS/DATA/2024/20242nd_presentation_423_e.pdf" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;a 94% drop in net income. When Nissan&nbsp;<a href="https://www.bloomberg.com/news/articles/2025-02-06/nissan-searching-for-new-partner-with-honda-deal-set-to-collapse" rel="noreferrer noopener" target="_blank">reportedly</a>&nbsp;failed to present a turnaround plan, Honda offered to alter the deal and acquire the company instead—a move Nissan strongly opposed.</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://www.forbes.com/sites/tylerroush/2024/12/17/honda-and-nissan-in-merger-talks-amid-efforts-to-boost-ev-offerings-report-says/">Honda And Nissan In Merger Talks Amid Efforts To Boost EV Offerings, Report Says</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/2024/12/18/nissan-shares-surge-23-after-report-of-merger-talks-with-honda/">Nissan Shares Surge 24% After Reports Of Merger Talks With Honda</a>&nbsp;(Forbes)</p>


Nissan, Honda Agree to Study EV, Intelligence Partnership

Honda And Nissan Call Off Merger Talks

Google apps 2018

Google Calendar Cuts Pride Month, Black History Month And More Observances—Here Are All The Companies Rolling Back DEI


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Billionaire and government efficiency czar Elon Musk said at a virtual summit last week, which was published online Saturday, that he’s not interested in buying TikTok, despite earlier reports suggesting China was interested in selling the app to the Tesla executive.</p>



<h2 class="wp-block-heading">Key Facts</h2>



<p>Musk spoke at the&nbsp;<a href="https://youtu.be/QVbRG2J1Saw?feature=shared" rel="noreferrer noopener" target="_blank">WELT Economic Summit</a>&nbsp;on Jan. 28, a German conference held by the media conglomerate AxelSpringer, stating he has not placed a bid to buy the app and is “not chomping at the bit to acquire TikTok.”</p>



<p>“I don’t have any plans for what would I do if I had TikTok,” Musk said, suggesting he could evaluate how harmful or productive the app’s algorithms are.</p>



<p>Musk compared acquiring TikTok to his purchase of Twitter, now called X, stating he felt the Twitter purchase was important because he wanted to “preserve freedom of speech,” but he said he’s not sure if that same logic applies to TikTok because the only reasons he sees for a potential acquisition would be economic.</p>



<p>Musk, however, has previously voiced opposition to a TikTok ban in&nbsp;<a href="https://x.com/elonmusk/status/1781387457193230338" rel="noreferrer noopener" target="_blank">multiple</a>&nbsp;social media&nbsp;<a href="https://x.com/elonmusk/status/1880975630646612254" rel="noreferrer noopener" target="_blank">posts</a>, calling it contrary to freedom of speech.</p>



<h2 class="wp-block-heading">Did China Want Musk To Buy Tiktok?</h2>



<p><a href="https://www.bloomberg.com/news/articles/2025-01-14/china-discusses-sale-of-tiktok-us-to-musk-as-one-possible-option" rel="noreferrer noopener" target="_blank">Bloomberg</a>&nbsp;and the&nbsp;<a href="https://www.wsj.com/tech/china-officials-internally-discuss-option-of-tiktok-sale-to-musk-bac0a224" rel="noreferrer noopener" target="_blank">Wall Street Journal</a>&nbsp;reported in January Chinese officials had discussed the possibility of selling TikTok to Musk to avoid a ban in the United States. China had discussed a potential sale to Musk as a way to work with the then-incoming Trump administration, and one idea floated included Musk’s X taking ownership of TikTok, Bloomberg reported. TikTok, however, denied these reports, with a spokesperson telling&nbsp;<a href="https://variety.com/2025/digital/news/tiktok-elon-musk-sale-china-pure-fiction-1236273557/" rel="noreferrer noopener" target="_blank">multiple</a>&nbsp;<a href="https://fortune.com/2025/01/14/elon-musk-buying-tiktok-pure-fiction/" rel="noreferrer noopener" target="_blank">outlets</a>&nbsp;the idea of a Musk sale is “pure fiction.”</p>



<h2 class="wp-block-heading">What’s Going On With Tiktok—and When Could It Be Banned?</h2>



<p>The United States is still seeking to broker a deal with China that lets the app continue to be used in the United States ahead of the ban’s extension deadline in April. After TikTok&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2025/01/20/tiktok-ban-live-updates-trump-halts-ban-for-75-days-after-ceo-attends-inauguration/">briefly went dark</a>&nbsp;for more than 12 hours in January, the app returned with a message thanking Trump for his efforts—before he took office—because he had promised to extend the ban deadline. Trump signed an&nbsp;<a href="https://www.whitehouse.gov/presidential-actions/2025/01/application-of-protecting-americans-from-foreign-adversary-controlled-applications-act-to-tiktok/" rel="noreferrer noopener" target="_blank">executive order</a>&nbsp;on his first day in office extending the deadline for ByteDance to divest from the app by 75 days. Trump has since suggested the U.S. and China could jointly own TikTok, though he has also advocated for a “<a href="https://www.wsj.com/tech/trump-vance-tiktok-deal-0e3b8bc1" rel="noreferrer noopener" target="_blank">bidding war</a>.” Several parties have expressed interest in purchasing TikTok, including “Shark Tank” judge and investor&nbsp;<a href="https://www.cnbc.com/2025/01/22/kevin-oleary-says-he-will-love-to-do-a-tiktok-deal-but-law-prevents-its-acquisition.html" rel="noreferrer noopener" target="_blank">Kevin O’Leary</a>, who said he put $20 billion “on the table” alongside billionaire and Project Liberty nonprofit founder Frank McCourt. YouTube’s most-followed star&nbsp;<a href="https://www.cnn.com/2025/01/21/business/mr-beast-buy-tiktok-ceo/index.html" rel="noreferrer noopener" target="_blank">MrBeast</a>, whose real name is Jimmy Donaldson, has also expressed interest in buying TikTok as part of a group of investors led by Jesse Tinsley, founder and CEO of Employer.com. Trump has also claimed&nbsp;<a href="https://www.reuters.com/technology/trump-says-microsoft-is-talks-acquire-tiktok-2025-01-28/" rel="noreferrer noopener" target="_blank">Microsoft</a>&nbsp;is in talks to purchase the app.</p>



<h2 class="wp-block-heading">Further Reading</h2>



<p><a href="https://www.forbes.com/sites/tylerroush/2025/01/26/these-billionaires-companies-and-investors-could-buy-tiktok-as-oracle-reportedly-weighs-deal-with-trump/">These Billionaires, Companies And Investors Could Buy TikTok—As Trump Eyes ‘Bidding War’ With Microsoft</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/dereksaul/2025/01/14/heres-how-much-elon-musk-could-buy-tiktok-for-as-china-reportedly-eyes-deal/">Here’s How Much Elon Musk Could Buy TikTok For—As China Reportedly Eyes Deal</a>&nbsp;(Forbes)</p>


Cannes Lions International Festival Of Creativity 2024 – Day Three

Elon Musk Says He Has No Plans To Buy TikTok


<p>On Wednesday morning, the X account of Tanzanian billionaire Mohammed Dewji posted a 10-second video of the bearded tycoon sitting in his home office with a piece of paper on which he had scribbled one word: $Tanzania. Dewji, who is CEO of the conglomerate METL Group and owner of a professional football team in Dar es Salaam, is a popular figure in Tanzania, with over 2.2 million followers on X (known previously as Twitter). His account posted several times on Wednesday morning promoting the token, including instructions on how to buy it.</p>



<p>But Dewji says he had no involvement in the project and that his X account has been hacked. The video purporting to be from Dewji is actually a deepfake: a video in which a person&#8217;s voice and body have been modified by AI to construct a false reality, typically for purposes of misinformation.</p>



<p>“my account has been hacked 😢,” Dewji wrote to&nbsp;<em>Forbes&nbsp;</em>in a WhatsApp message on Wednesday afternoon at 1:18pm eastern time. Dewji adds that his team previously reported the hack to X and that he remains locked out of his account.</p>



<p>Even after several of his posts hawking $Tanzania were taken down, Dewji’s account continued to promote the scam. At 2:56pm eastern time, a&nbsp;<a href="https://x.com/moodewji/status/1887228880143937595" rel="noreferrer noopener" target="_blank">post</a>&nbsp;promoting the cryptocurrency’s launch was shared. Then two minutes later, a second apparent deepfake&nbsp;<a href="https://x.com/moodewji/status/1887229328951550180" rel="noreferrer noopener" target="_blank">posted</a>&nbsp;by Dewji’s account showed the tycoon in a new room, insisting that he hasn’t been hacked and holding up the same sheet of paper. “My name is Mohammed Dewji and I’m trying to verify myself. This is what you told me to write: Tanzania with the dollar sign,” the fake Dewji says. The post’s caption reads: “im not hacked i hope i can verify myself that way $tanzania will be out in 2H.” That video has received over 30,000 views as of 10:09pm eastern time Wednesday. Two additional deepfakes of Dewji promoting the token were posted at&nbsp;<a href="https://x.com/moodewji/status/1887251542794764314" rel="noreferrer noopener" target="_blank">4:26pm</a>&nbsp;and&nbsp;<a href="https://x.com/moodewji/status/1887254899819487476" rel="noreferrer noopener" target="_blank">4:40pm</a>&nbsp;eastern. All of these videos were still active as of 10:09pm eastern time Wednesday. The hackers also modified Dewji’s account settings so that other users could not respond to his posts.</p>



<p>People with knowledge of AI scams would have been suspicious of the Dewji videos, in which the tycoon appears stilted and robotic. (In the first video, Dewji bizarrely insisted, “I am real”). But deepfake technology has advanced so quickly that less tech savvy consumers may be easily fooled. Deepfake content led to fraud losses of over $12 billion in 2023,&nbsp;<a href="https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-predictions/2024/deepfake-banking-fraud-risk-on-the-rise.html" rel="noreferrer noopener" target="_blank">according to&nbsp;</a>Deloitte.</p>



<p>The Dewji case appears to have been no exception. Over just a few hours, investors put $1.48 million into the $Tanzania token, which was listed on the Solana blockchain,&nbsp;<a href="https://x.com/lookonchain/status/1887170085070217383/photo/1" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to Lookonchain, a blockchain analytics account, earlier today. The scammers appear to be the same people who hacked the X account of former Brazil president Jair Bolsonaro two weeks ago and made off with $1.3 million,&nbsp;<a href="https://x.com/zachxbt/status/1887177675518640353" rel="noreferrer noopener" target="_blank">according&nbsp;</a>to ZachXBT, a scam victim now tracks crypto fraud.</p>



<p>X has become fertile ground for crypto scammers since Elon Musk took over the social media platform in 2022 and slashed content moderation efforts. Many successful deepfakes even&nbsp;<a href="https://www.cloudsek.com/knowledge-base/elon-musk-deepfakes-are-fueling-crypto-scams-a-dangerous-trend" rel="noreferrer noopener" target="_blank">show a fake Elon Musk promoting cryptocurrencies</a>. The backers of&nbsp;<a href="https://www.forbes.com/sites/johnhyatt/2023/11/29/a-crypto-token-pretending-to-be-backed-by-elon-musk-is-running-riot-on-x/">a fake ‘X Token’</a>&nbsp;also have used Musk’s image and name in effort to swindle unsuspecting X users.</p>



<p>“I guess i need to invest more on cybersecurity,” Dewji wrote to&nbsp;<em>Forbes&nbsp;</em>when asked if had any further comment.</p>



<p>X has not responded to a request for comment.</p>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<p><em>Story updated at 10:14pm on Wednesday to reflect additional deepfakes posted to Dewji’s X account.</em></p>


Key Speakers on Day Two of The Qatar Economic Forum

African Billionaire’s X Account Hacked By Crypto Scammers


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Shares of Google parent Alphabet sank in after hours trading Tuesday after the search engine giant’s fourth-quarter earnings&nbsp;<a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001652044/000165204425000010/goog-20250204.htm" rel="noreferrer noopener" target="_blank">report</a>&nbsp;revealed slightly weaker quarterly revenues than Wall Street anticipated and predicted much higher spending in 2025 than expected.</p>



<h2 class="wp-block-heading">Key Facts</h2>



<p>Alphabet stock declined 7% to $193 in afternoon trading by 4:35 p.m. EST, equating to a roughly $180 billion loss of market value.</p>



<p>The dive came after Alphabet reported mixed Q4 earnings: Its $2.15 adjusted earnings per share exceeded consensus analyst forecasts of $2.12, while its $96.5 billion in revenue fell just short of estimates of $96.7 billion.</p>



<p>Perhaps most pressing for investors was the company reporting worse-than-expected revenue in its artificial intelligence heavy Google Cloud unit, bringing in $11.96 billion compared to forecasts of $12.19 billion, and guiding for $75 billion in 2025 capital expenditures, far above estimates of $58.8 billion.</p>



<p>Alphabet shares had closed normal trading up 2.5% at a record share price of $207.71.</p>



<h2 class="wp-block-heading">Big Number</h2>



<p>$72.46 billion. That’s how much advertising revenue Alphabet brought in during 2024’s final three months, easily topping forecasts of $71.66 billion and shattering Q3 2024’s prior record of $65.85 billion.</p>



<h2 class="wp-block-heading">Key Background</h2>



<p>Alphabet is an ad company at its core, with ads accounting for 75% of sales last quarter, including $54 billion from Google and $10 billion from its YouTube video platform. Google is a part of the generative AI arms race with its Gemini chatbot, and&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/01/24/meta-will-spend-record-60-billion-on-ai-this-year-zuckerberg-says-after-trump-announces-stargate-deal-with-openai/">joins</a>&nbsp;fellow Silicon Valley generative AI player Meta in forecasting much higher 2025 spending than Wall Street expected.</p>


gettyimages-1173599543-594×594

Google Stock Falters As Earnings Report Reveals Weaker-Than-Expected Cloud Sales


<p>When it comes to losing money, Boeing is an overperformer — of historic proportion. On Tuesday, the beleaguered plane maker announced a net loss of $3.9 billion for the fourth quarter of 2024. That makes for a stunning $11.8 billion loss for the year, the second largest in Boeing history.</p>



<p>The lousy news is partly due to the disruption of a&nbsp;<a href="https://www.forbes.com/sites/jeremybogaisky/2024/10/25/boeing-strike-pension/">seven-week strike</a>&nbsp;by Boeing’s machinists that halted production of the company’s bestselling plane, the 737 Max. It’s also a result of chronic delays and cost overruns on key programs in Boeing’s defense division. And then there are the company’s seemingly&nbsp;<a href="https://www.forbes.com/sites/jeremybogaisky/2024/02/17/boeing-737-max-workers/">endless struggles</a>&nbsp;to straighten out production problems with the 737 Max and 787.</p>



<p>Boeing’s financial losing streak now stretches six years, starting with the grounding of the 737 Max in 2019 following two deadly crashes. Its total losses since that time: a staggering $35.7 billion.</p>



<p>Fourth-quarter earnings season isn’t done yet, but Boeing’s dismal 2024 results are almost certain to bolster the company’s lead as the biggest loser in the S&amp;P 500 index since 2019, according to data from FactSet. Uber, which was running a close second to Boeing through 2023, is expected to report a profit for 2024, while third-place Carnival posted net income of $1.9 billion for 2024, reducing its total losses over the past six years to $21 billion.</p>



<p>Looking back over the past quarter century, Boeing ranks sixth among the titans of red ink on the S&amp;P 500. The ignominious No. 1: American International Group. Adjusting for inflation to 2024 dollars to compare apples to apples, the insurer lost an eye-popping $162 billion in 2008 and 2009, as its balance sheet imploded under heavy exposure to the collapse of the housing market amid the Great Recession. That’s over four times Boeing’s total inflation-adjusted loss so far of $39.4 billion. In second place is General Motors, which hemorrhaged an eye-watering $130 billion from 2005 through 2008 in 2024 dollars. It filed for bankruptcy the next year, reorganizing with $33 billion in financing from the U.S. and Canadian governments.https://embedly.forbes.com/widgets/media.html?src=https%3A%2F%2Fdatawrapper.dwcdn.net%2FRghvw%2F2%2F&amp;display_name=Datawrapper&amp;url=https%3A%2F%2Fdatawrapper.dwcdn.net%2FRghvw%2F2%2F&amp;image=https%3A%2F%2Fdatawrapper.dwcdn.net%2FRghvw%2Fplain-s.png%3Fv%3D2&amp;type=text%2Fhtml&amp;schema=dwcdn</p>



<p>Where Boeing does rank No. 1: It’s lost the most money among the select group of 27 S&amp;P 500 members that have losing streaks of at least six consecutive years since 1999. In distant second place is the former parent company of the Texas electricity supplier TXU, which lost an inflation-adjusted $28.8 billion from 2010 through 2015, driving it into bankruptcy.</p>



<p>But Boeing is far down the leaderboard of the longest streaks of red ink in the S&amp;P 500. The industrial parts and repair company DEX lost money for 18 years in a row before turning profitable in 2019. SBA Communications and LiveNation are tied for second with 17-year runs of red ink that are thankfully over.</p>



<p>Despite Boeing’s dismal run, institutional investors have been willing to shore up the company’s finances thanks to the company’s fat order book of 5,595 planes, which should convert into billions in revenue if new CEO Kelly Ortberg can get its production lines humming smoothly again. The company raised $24 billion late last year through a sale of stock and convertible debt.</p>



<p>But don’t bet on Boeing’s losing streak ending in 2025. CFO Brian West told analysts on the company’s third-quarter conference call he expected the company to record negative cash flow for the full year.<a href="https://www.forbes.com/sites/jeremybogaisky/"></a></p>


Boeing Union Says Talks Halted On Pensions And Pay Demands

Boeing Is One Of The 21st Century’s Most Unprofitable Companies


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Artificial intelligence startup OpenAI is in early discussions for a funding round that could value it at a whopping $340 billion, according to&nbsp;<a href="https://www.wsj.com/tech/ai/openai-in-talks-for-huge-investment-round-valuing-it-up-to-340-billion-2a2d4327?mod=breakingnews" rel="noreferrer noopener" target="_blank">The Wall Street Journal</a>, which would more than double its valuation amid competitive threats from up-and-coming Chinese AI firm&nbsp;<a href="https://www.forbes.com/sites/giacomotognini/2025/01/30/heres-how-much-ai-firm-deepseek-and-its-billionaire-founder-liang-wenfeng-are-worth/">DeepSeek</a>.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>OpenAI is in the early stages of raising up to $40 billion in a new funding round, the Journal reported, citing unnamed people familiar with the matter who noted discussions are still in flux and could fall through.</p>



<p>The funding round would value OpenAI at $340 billion, more than doubling its latest valuation of $157 billion, which was secured after the company raised $6.6 billion in October.</p>



<p>The Journal previously&nbsp;<a href="https://www.wsj.com/tech/softbank-in-talks-to-invest-up-to-25-billion-in-openai-03d653fc?mod=article_inline" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;that Japanese investment firm SoftBank would spearhead the funding round and contribute somewhere between $15 billion and $25 billion.</p>



<p>OpenAI did not immediately respond to Forbes’ request for comment.</p>



<h2 class="wp-block-heading" id="h-how-does-openai-s-valuation-compare-to-its-competitors">How Does Openai’s Valuation Compare To Its Competitors?</h2>



<p>OpenAI was valued at $157 billion as of October while the Elon Musk-owned xAI secured a roughly $50 billion valuation last fall. Amazon-backed AI startup Anthropic was valued at $18 billion and is reportedly in talks for a fundraise that would raise its valuation to $60 billion. DeepSeek is worth at least $1 billion, according to analysts who&nbsp;<a href="https://www.forbes.com/sites/giacomotognini/2025/01/30/heres-how-much-ai-firm-deepseek-and-its-billionaire-founder-liang-wenfeng-are-worth/">spoke to Forbes</a>, though it could be worth far more despite the fact it generates little revenue as of today. Although they are not explicitly AI companies, Microsoft and Meta earmarked $80 billion and $65 billion, respectively, for AI in their current fiscal years,&nbsp;<a href="https://www.reuters.com/technology/artificial-intelligence/microsoft-meta-ceos-defend-hefty-ai-spending-after-deepseek-stuns-tech-world-2025-01-30/" rel="noreferrer noopener" target="_blank">Reuters</a>&nbsp;reported.</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>OpenAI has the highest valuation among all U.S. AI startups and more than quadrupled its value from 2023 to 2024. The nonprofit company generated $300 million in monthly revenue in August, according to&nbsp;<a href="https://www.nytimes.com/2024/09/27/technology/openai-chatgpt-investors-funding.html" rel="noreferrer noopener" target="_blank">The New York Times</a>, which noted OpenAI expected $3.7 billion in annual sales for 2024. OpenAI is also at the forefront of&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/01/21/oracle-stock-surges-ahead-of-500-billion-stargate-openai-trump-deal/">Project Stargate</a>, a Trump-backed AI infrastructure initiative also involving Oracle and Nvidia. The project seeks to construct several AI data centers across the country and establish hundreds of thousands of American jobs. However, the large bursts of money and funding behind OpenAI and other AI startups were thrown into question this week as&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2025/01/27/trump-calls-deepseek-a-positive-development-but-wake-up-call-for-us-industries/">DeepSeek</a>&nbsp;surged in popularity and claimed it developed one of its AI models at a much cheaper cost than American startups. The Chinese startup claimed it spent $5.6 million on graphics processing units to train a model, though experts like Bernstein analyst Stacy Rasgon have remained skeptical of the figure, saying it disregards “substantial” additional costs that put toward the model’s development.</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://www.forbes.com/sites/antoniopequenoiv/2024/10/02/openai-valued-at-157-billion-after-closing-66-billion-funding-round/">OpenAI Valued At $157 Billion After Closing $6.6 Billion Funding Round</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/giacomotognini/2025/01/30/heres-how-much-ai-firm-deepseek-and-its-billionaire-founder-liang-wenfeng-are-worth/">Here’s How Much AI Firm DeepSeek And Its Founder Are Worth</a>&nbsp;(Forbes)</p>


AI Illustrations

OpenAI Eyeing Funding Round That Would Double Its Value, Report Says


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>The Food and Drug Administration approved Vertex Pharmaceuticals’ “Journavx” on Thursday, greenlighting the non-opioid painkiller for treating moderate to severe pain in what the FDA considered the start of a new class of non-addictive medicines.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>The FDA&nbsp;<a href="https://www.fda.gov/news-events/press-announcements/fda-approves-novel-non-opioid-treatment-moderate-severe-acute-pain" rel="noreferrer noopener" target="_blank">approved</a>&nbsp;Journavx for adults with moderate to severe pain after expediting the drug’s development and review.</p>



<p>The painkiller, which has a lofty list price of $15.50 per pill, blocks pain signals before they reach the brain, unlike opioids that reduce pain by latching receptors to the brain and create the risk of addiction.</p>



<p>Acute pain that can be treated by Journavx has been often treated with analgesics that might contain opioids, according to the FDA.</p>



<h2 class="wp-block-heading" id="h-what-are-side-effects-of-journavx">What Are Side Effects Of Journavx?</h2>



<p>Journavx’s commonly reported side effects include nausea, rash, itching, headache, constipation and muscle spasms.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">What To Watch For</h2>



<p>Vertex plans to conduct a late-stage study of Journavx that could potentially lead to the drug being approved for chronic pain, which the FDA defines as pain that “persists for more than three months or pain that lasts more than one month beyond the normal healing time.”</p>



<h2 class="wp-block-heading" id="h-big-number">Big Number</h2>



<p>$1 billion. That is how much Wall Street analysts have estimated the painkiller could produce in annual sales.</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>Journavx’s approval marks a significant development in coming up with alternatives to opioids, which has been sought as opioid use has resulted in a wave of drug addictions and overdoses among the American public. Deaths involving opioids totaled 80,816 in 2021, nearly 11,000 more than 2020, according to the&nbsp;<a href="https://www.cdc.gov/nchs/pressroom/nchs_press_releases/2022/202205.htm" rel="noreferrer noopener" target="_blank">Centers for Disease Control and Prevention</a>. In 2020, an estimated 2.7 million people above the age of 11 had an&nbsp;<a href="https://nida.nih.gov/publications/research-reports/medications-to-treat-opioid-addiction/overview#:~:text=In%202020%2C%20an%20estimated%202.7,a%20prescription%20opioid%20use%20disorder.&amp;text=Overdose%20deaths%20involving%20opioids%20have,to%2080%2C411%20deaths%20in%202021." rel="noreferrer noopener" target="_blank">opioid use disorder</a>&nbsp;in the past 12 months, according to the 2020 National Survey on Drug Use and Health.</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://apnews.com/article/nonopioid-painkiller-fda-vertex-pharmaceuticals-b1dd4276fce3d88ff32e3062e95f408f" rel="noreferrer noopener" target="_blank">FDA approves painkiller designed to eliminate the risk of addiction associated with opioids</a>&nbsp;(AP)</p>



<p><a href="https://www.biopharmadive.com/news/vertex-pain-drug-data-lumbosacral-radiculopathy-lsr-stock/736055/" rel="noreferrer noopener" target="_blank">Vertex ‘ends the year in pain’ as latest non-opioid drug data disappoint</a>&nbsp;(BioPharma Dive)</p>


Overhead view of senior Asian woman feeling sick, taking medicines in hand with a glass of water at home. Elderly and healthcare concept

FDA Approves Non-Opioid Painkiller With No Addiction Risk


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Australian animated television series “Bluey” was the most streamed title in 2024, according to&nbsp;<a href="https://www.nielsen.com/insights/2025/top-streaming-tv-trends-2024-artey-awards/" rel="noreferrer noopener" target="_blank">Nielsen</a>, garnering over 55 billion minutes of watch time amid a surge in overall TV entertainment streaming among Americans last year.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>“Bluey” was the top overall streaming title in 2024 and had 55.6 billion minutes watched on Disney+, with 43% of its viewing total coming from children aged two to 11.</p>



<p>“Grey’s Anatomy” and “Family Guy” were the runner-ups behind “Bluey,” generating 47.85 billion minutes and 42.44 billion minutes viewed, respectively.</p>



<p>Netflix’s fictional period drama “Bridgerton,” which released eight new episodes in May and June, led the pack of most-streamed original series in 2024 with 21.42 billion viewing minutes and was followed by reality romance series “Love Is Blind” (16.45 billion viewing minutes).</p>



<p>“Fallout,” the Prime Video series based on the popular video game franchise of the same name, was the most-viewed new streaming drama series last year (11.95 billion minutes) and ranked fifth among 2024’s streaming originals.</p>



<p>“Moana” was the most-watched streaming movie for the second year in a row, generating 13.03 billion minutes to beat “The Super Mario Bros. Movie” (11.72 billion minutes).</p>



<p>“American Nightmare,” a documentary based on the kidnapping story of Denise Huskins and Aaron Quinn, garnered 3.57 billion viewing minutes last year to become the most-viewed original, unscripted series in 2024.</p>



<h2 class="wp-block-heading" id="h-surprising-fact">Surprising Fact</h2>



<p>While young children make up the core of the viewership of “Bluey,” the show gained a strong following of child-free adults in 2023, with viewers finding comfort in the show’s&nbsp;<a href="https://www.washingtonpost.com/arts-entertainment/2023/02/08/bluey-adult-fandom-tiktok/" rel="noreferrer noopener" target="_blank">simplicity</a>&nbsp;and&nbsp;<a href="https://www.theatlantic.com/culture/archive/2023/08/bluey-season-3-review/675020/" rel="noreferrer noopener" target="_blank">narrative depth</a>.</p>



<h2 class="wp-block-heading" id="h-big-number">Big Number</h2>



<p>12 trillion. That is how many minutes Americans spent streaming in 2024, according to Nielsen, which noted the figure equates to about 8.4 billion days or 23 million years. The figure marked a 10% increase from 2023.</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>Streaming has become increasingly popular in the last five years. Streaming represented about 26% of Americans’ total time spent watching TV in May 2021, Nielsen reported, noting that number jumped to over 43% by Dec. 2024. The surge in streaming has managed to coincide with increasingly expensive streaming services that include Netflix, Disney+, Hulu, Prime Video and others. Netflix is the most recent streaming service to announce a&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2025/01/21/netflix-is-raising-its-prices---heres-what-to-know/">price hike</a>, revealing this month it will increase its ad-supported tier from $6.99 to $7.99, its standard tier from $15.49 to $17.99 and its premium tier from $22.99 to $24.99. Crackdowns on password sharing across multiple streaming platforms have contributed to subscriber growth for multiple platforms including&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2024/08/20/netflix-stock-hits-record-high-first-since-2021-after-ads-password-crackdown/">Netflix</a>.</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://www.nielsen.com/insights/2025/top-streaming-tv-trends-2024-artey-awards/#legacyaward" rel="noreferrer noopener" target="_blank">The Nielsen ARTEY Awards: 2024 Streaming Unwrapped</a>&nbsp;(Nielsen)</p>



<p><a href="https://www.forbes.com/sites/maryroeloffs/2024/07/05/netflix-streaming-twice-as-many-new-subscribers-first-half-2024-peacock-paramount-hbo-max/">This Streaming Service Has Scored Twice As Many New Users As Any Other In 2024</a> (Forbes)<a href="https://www.forbes.com/sites/antoniopequenoiv/"></a></p>


Forbes

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