
<p><strong>Elon Musk has long claimed civilization will collapse unless we raise the birth rate. Meanwhile, his “DOGE” group is slashing billions in funding for pregnant and nursing mothers and their children.</strong></p>



<p>When Sevonna Brown learned that Elon Musk’s quasi-governmental Department of Government Efficiency (“DOGE”) had ordered payment stopped on her $2 million plus NIH grant for maternal community healthcare, she started hitting the phones. She was to cease operations immediately, and there was a lot of work in progress that needed to be halted.</p>



<p>Women on their way to lactation appointments would have to turn around. Home visits helping pregnant and postpartum women with blood pressure spikes and suicidal ideation would be cancelled. Domestic violence shelters for pregnant women would likely shutter, she said, and deliveries of food and formula to new mothers and their babies would stop.</p>



<p>The network of services for mothers and children that she had spent more than a decade building was coming to a screeching halt. “The world has literally gone dark,” she said.</p>



<p>Brown is the founder of Sanctuary Medicine &amp; a cooperative member at Restore Forward in Brooklyn, NY. Her work supporting people through pregnancy and new parenthood was funded in part through the NY-CHAMP Maternal Health Research Center of Excellence, which lost support after DOGE cancelled more than $10 billion in grants from the Department of Health and Human Services (HHS).</p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>“We can’t claim to care about birthrates while defunding the very systems that make pregnancy, birth, and parenting safe.”Emilie Rodriguez, co-founder of The Bridge Directory</p>
</blockquote>



<p>Given Musk’s endless warnings that falling birthrates pose an existential threat to civilization, DOGE’s abrupt gutting of maternal health services is simultaneously ironic, and exactly what you’d expect from an effort whose&nbsp;<a href="https://www.forbes.com/sites/conormurray/2025/02/19/here-are-the-biggest-doge-hoaxes-and-inaccuracies-as-8-million-canceled-ice-contract-listed-at-8-billion/">blunders</a>&nbsp;may well&nbsp;<a href="https://www.forbes.com/sites/saradorn/2025/04/04/trumps-great-rehiring-over-26000-fired-by-doge-likely-to-return-so-far/">exceed</a>&nbsp;its claimed, but&nbsp;<a href="https://www.nytimes.com/2025/03/13/us/politics/doge-errors-funding-grants-claims.html" rel="noreferrer noopener" target="_blank">difficult to verify</a>, achievements. A&nbsp;<a href="https://www.vanityfair.com/style/story/all-elon-musk-children-and-mothers?srsltid=AfmBOoqnsSgo2mRPwXXhrkyTDlu1GyW7MlVV1kbzFf08aJ9YBrtudj8z" rel="noreferrer noopener" target="_blank">father to an estimated 14 children</a>, Musk has said he thinks “<a href="https://www.cnbc.com/2021/12/07/elon-musk-civilization-will-crumble-if-we-dont-have-more-children.html" rel="noreferrer noopener" target="_blank">civilization is going to crumble</a>” if women don’t have more babies. He has&nbsp;<a href="https://www.nytimes.com/2024/10/29/business/elon-musk-children-compound.html" rel="noreferrer noopener" target="_blank">offered his sperm</a>&nbsp;to acquaintances and&nbsp;<a href="https://www.rollingstone.com/politics/politics-news/elon-musk-tucker-carlson-fox-birth-control-abortion-1234717505/" rel="noreferrer noopener" target="_blank">blamed birth control</a>&nbsp;for decreasing pregnancy rates. “It should be considered a national emergency to have kids,”&nbsp;<a href="https://x.com/elonmusk/status/1800318513502167246?lang=en" rel="noreferrer noopener" target="_blank">he wrote last summer</a>.</p>



<p>Musk has&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-08-14/elon-musk-s-10m-texas-donation-funds-a-favorite-topic-of-his-fertility" rel="noreferrer noopener" target="_blank">donated</a>&nbsp;millions of dollars to fund research on fertility. But at this point, he has taken much more from pregnant women and new mothers than he has given. In February, DOGE&nbsp;<a href="https://www.theguardian.com/us-news/2025/feb/15/trump-medical-research-funding-maternal-mortality" rel="noreferrer noopener" target="_blank">threatened</a>&nbsp;a seven-year, $168 million NIH initiative to improve maternal health across the state of Michigan. It&nbsp;<a href="https://www.wsj.com/politics/policy/trump-administration-plans-to-freeze-family-planning-grants-541441be" rel="noreferrer noopener" target="_blank">suspended more than $27 million</a>&nbsp;in grants to women’s health centers,&nbsp;<a href="https://www.healthcare-brew.com/stories/2025/03/19/meet-two-former-federal-health-technologists-work-halted-doge" rel="noreferrer noopener" target="_blank">laid off</a>&nbsp;federal workers running programs for expecting mothers on Medicaid, and&nbsp;<a href="https://taggs.hhs.gov/Content/Data/HHS_Grants_Terminated.pdf" rel="noreferrer noopener" target="_blank">cancelled</a>&nbsp;$1.6 million in funding for maternal and postpartum care at the Morehouse School of Medicine in Atlanta, GA.</p>



<p>“We can’t claim to care about birthrates while defunding the very systems that make pregnancy, birth, and parenting safe,” says Emilie Rodriguez. A medical anthropologist, doula, and co-founder of The Bridge Directory, a group of perinatal maternal healthcare providers, Rodriguez worked with Sevonna Brown on the CHAMP Center of Excellence grant.</p>



<p>The CHAMP Center’s grant focused on providing care to women who are Medicaid recipients. In New York City, Black women are&nbsp;<a href="https://www.nytimes.com/2024/01/07/nyregion/childbirth-maternal-mortality-black-women.html#:~:text=Semple%20were%20Black.,disparity%20than%20the%20national%20one." rel="noreferrer noopener" target="_blank">nine times as likely</a>&nbsp;to die in childbirth as their white counterparts. “New York City should be one of the safest places in the world to give birth—but for far too many Black and Brown women, it’s not,” said Victoria St. Clair, a doula and community member who helped administer the NY-CHAMP grant. “The numbers are painful, and the lived experiences behind them are even more so. Still, I want to be clear: no one should be afraid to become pregnant or start a family here … We believe every person deserves to bring life into this world without risking their own.”</p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>“Anyone who’s had a kid, who’s gone through those early days of parenting, knows the terror of putting your baby to bed and waking up with a jolt asking, ‘are they still breathing?’”Leslie Root, Associate Director at the Colorado University Population Center</p>
</blockquote>



<p>Many of the DOGE cuts have been justified as part of an “anti-woke” agenda, which aims to cut medical care for traditionally underserved populations. “We got word that there were words we had to eliminate out of our grants – like, women, and Black, and undocumented, underserved, immigrants,” Rodriguez explained. “It’s not just censorship that’s at stake, it’s erasure,” she said.</p>



<p>Whatever their intent, the cuts are likely to worsen healthcare for mothers and children of all races and ethnicity, said Leslie Root, a professor at Colorado University and Associate Director at the school’s Population Center. Root pointed to a recently gutted team at NIH that, until recently, administered the long-standing Pregnancy Risk Assessment Monitoring System (PRAMS) study. The team conducted tentpole research on the unexpected infant deaths previously known as SIDS, or sudden infant death syndrome.</p>



<p>“Anyone who’s had a kid, who’s gone through those early days of parenting, knows the terror of putting your baby to bed and waking up with a jolt asking, ‘are they still breathing?’”</p>



<p>Donald Trump, like Elon Musk, has expressed a desire to help young Americans who want to start a family. “I’ll be known as the fertilization president,” he&nbsp;<a href="https://www.nbcnews.com/health/health-news/cdcs-ivf-team-gutted-even-trump-calls-fertilization-president-rcna199261" rel="noreferrer noopener" target="_blank">said</a>&nbsp;last week, as Musk’s DOGE&nbsp;<a href="https://www.linkedin.com/feed/update/urn:li:activity:7314743980062040065/" rel="noreferrer noopener" target="_blank">cut funding</a>&nbsp;to the Health Resources Services Administration’s Maternal and Child Health Bureau, the NIH’s National Institute of Child Health and Human Development, and the CDC’s Division of Reproductive Health.</p>



<p>A recently departed staffer from the CDC described layoffs at a team in the Division of Reproductive Health working on a set of federal guidelines for the safe use of contraceptives — guidelines that are essential to ensuring safe pregnancies in women with conditions like diabetes, high blood pressure, lupus and MS.</p>



<p>“The guidelines can be the difference between these women being able to safely start families or not, and in some cases even save their lives,” they said.</p>



<p>The DOGE cuts have also decimated programs for children’s health.&nbsp;<a href="https://taggs.hhs.gov/Content/Data/HHS_Grants_Terminated.pdf" rel="noreferrer noopener" target="_blank">It has terminated</a>&nbsp;more than $1 million in grant funding for a children’s behavioral health study in Massachusetts, more than $750,000 to treat kids with respiratory disease at the Seattle Children’s Hospital, more than $200,000 to treat children with skeletal problems at Boston Children’s Hospital, more than $1.6 million in treatment and prevention of HIV in children at the Children’s Hospital of Los Angeles, almost another million in HIV treatment at the Children’s Hospital of Philadelphia, and a whopping $<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/us-government-pulls-back-over-11-billion-funding-state-health-departments-2025-03-26/" rel="noreferrer noopener" target="_blank">12&nbsp;<em>billion</em></a>&nbsp;in funding from state health departments, including&nbsp;<a href="https://www.nbcnews.com/health/health-news/rfk-jr-vaccines-children-weakening-system-hhs-budget-cuts-rcna199188" rel="noreferrer noopener" target="_blank">$2 billion</a>&nbsp;earmarked for child vaccination programs. (Child vaccinations&nbsp;<a href="https://www.nature.com/articles/d41586-025-00862-1" rel="noreferrer noopener" target="_blank">have saved an estimated 154 million lives</a>&nbsp;over the past 50 years.)</p>



<p>People affected by the DOGE cuts may not recognize those offices’ names, Sevonna Brown said, but they’ll feel their impact nearly immediately. “The average pregnant mother sitting in a shelter does not know what HHS is, but she knows what her SNAP benefit is…she knows what her Medicaid card is.” (SNAP&nbsp;<a href="https://www.fns.usda.gov/snap/supplemental-nutrition-assistance-program" rel="noreferrer noopener" target="_blank">helps</a>&nbsp;pregnant women and new mothers access food and formula, and Medicaid&nbsp;<a href="https://www.medicaid.gov/medicaid/program-information/medicaid-and-chip-enrollment-data/report-highlights" rel="noreferrer noopener" target="_blank">provides</a>&nbsp;health insurance to more than 70 million Americans each year.)</p>



<p>DOGE has billed itself as a way to cut fat from the federal government, saving taxpayers valuable cash. But Dr. Uma Reddy, who led NY-CHAMP’s work, said that the interventions carried out by her team probably saved taxpayers money. Helping women avoid mental and cardiovascular health crises avoids expensive care down the road, and saves women and their children from needless suffering.</p>



<p>In recent days, the DOGE cuts have rankled even conservatives and proponents of the Trump Administration&#8217;s agenda. Fox News commentator Jesse Waters&nbsp;<a href="https://uk.news.yahoo.com/fox-news-host-jesse-watters-194638205.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAMprH-7pWhudv3V8tJLHcpYX9mk5WxDRKyCOOEzZnLsr-W2TxI8C7d2AE7M4UEY-U4QFKUfAV-1xaLuFAAk06IxDOIs1wB1x_IWggYYOf0l07zfNbwyF1R9lV0a-2f9toCMlwP4r2KO0ncNA6WgFO_hB7p8xiAGR0471iAOIqoLx" rel="noreferrer noopener" target="_blank">recently complained to viewers</a>&nbsp;of his primetime show that his mother was upset about the cuts, and that his sister — an employee at Johns Hopkins University — could be personally affected by them.</p>



<p>In the meantime, Sevonna Brown’s network of healthcare providers are trying to pick up the slack. “We’re taking food out of our own fridges. We’re sharing. We’re doing mutual aid. We have to show up for people, we can’t leave people alone. … We can’t leave a mom who can’t nurse or breastfeed without formula. We are making it happen, and that’s straining our families and our communities.&#8221;</p>


President Trump Attends UFC Title Fight

Elon Musk Wants To Raise The Birth Rate. He’s Cutting Medical Care For Mothers And Babies.


<p><strong>President Donald Trump announced reciprocal tariffs for over 180 countries on Wednesday, including South Africa, Nigeria, and Angola, amongst others, in a bid to rectify trade practices that have reportedly contributed to the country’s trade deficits.</strong></p>



<p>A 30% tariff has been imposed on South Africa in relation to imports into the United States (U.S.). This is following an announcement by President Donald Trump, on April 2, 2025. The U.S. plans to impose a tariff of 10% on all imports into the country with higher percentages mentioned for specific trading partners. &nbsp;&nbsp;&nbsp;</p>



<p>According to the Executive Order, trade deficits have led to the hollowing out of the country’s manufacturing base and inhibited its ability to scale advanced domestic manufacturing capacity. It goes on to say that this has undermined critical supply chains in the U.S. and rendered its defense-industrial base dependent on foreign adversaries.</p>



<p>The South African Presidency noted the new tariffs, in a statement, saying: “Whilst South Africa remains committed to a mutually beneficial trade relationship with the United States, unilaterally imposed and punitive tariffs are a concern and serve as a barrier to trade and shared prosperity”.</p>



<p>“The tariffs affirm the urgency to negotiate a new bilateral and mutually beneficial trade agreement with the U.S., as an essential step to secure long-term trade certainty.”</p>



<p>Following the announcement of the tariffs, Investec Chief Economist, Annabel Bishop noted in a statement that the reaction from financial markets was swift, adding that there might be “higher inflation expectations (and fewer interest rate cuts) for the U.S. as a consequence of the marked increase of the cost of living on the imposition of the tariffs on imported goods into the U.S.”.</p>



<p>She also pointed out that South Africa is expected to see lower gross domestic product (GDP) growth in 2025 at 1.3% year-on-year from 1.8% year-on-year, referring to an economic growth note from March 7 and the macroeconomic outlook from March 27. This would be as a consequence of the “escalation in the trade war and the loss of AGOA [the African Growth and Opportunity Act], among other noted factors”.</p>



<p>Relations between South Africa and the U.S., in particular, have been strained recently for several reasons, most notably, the cutting of funding to the country and an offer from the latter to resettle White South African farmers and their families in February following utterances of a ‘white genocide’ in the country–allegations which have been denied by South Africa–and the suspension of USAID funding, globally, by the U.S, which has reportedly impacted several organizations in South Africa.</p>



<p>More recently, in March, the U.S. expelled South Africa’s ambassador to the country, Ebrahim Rasool, after remarks he made about President Trump. In the same month, Trump nominated Brent Bozell III, a conservative media commentator, to become the next U.S. ambassador to South Africa, stating, “Brent brings fearless tenacity, extraordinary experience, and vast knowledge to a nation that desperately needs it”.</p>



<p>In relation to the new tariffs, South Africa’s Trade Minister, Parks Tau reportedly stated, at the Gauteng Investment Conference on Thursday in Johannesburg, that the country would need clarity from the U.S. as to how they arrived at the 30% figure and how they would want to engage.</p>



<p>According to reports, South Africa currently imposes an averaged 7.6% tariff on products from the U.S.</p>



<p>Other African countries facing higher percentages than the standard 10% include Angola (32%), Botswana (37%), Côte d’Ivoire (21%), Lesotho (50%), Mauritius (40%), Namibia (21%), Nigeria (14%), Zambia (17%) and Zimbabwe (18%), to name a few.</p>



<p>The White House confirmed that the 10% tariffs would take effect from April 5 and reciprocal levies on April 9.</p>


South African Rand Sinks Most Since 2011

U.S. Imposes Reciprocal Tariffs Globally; South Africa To Seek Clarity, New Trade Deal


<p><strong>Trump’s second term may unleash a new wave of acquisitions, and mid-cap stocks could be in the crosshairs of acquirers.</strong></p>



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



<p>T<strong>he stock market</strong> surged higher following Donald Trump’s election win earlier last year as Wall Street celebrated the new business-friendly administration and the more lenient regulatory environment it is expected to bring.</p>



<p>Under the Biden administration, dealmaking has been sluggish due in part to an aggressive antitrust approach from the Federal Trade Commission headed up by Chair Lina Khan. A year-and-a-half Federal Reserve rate hiking campaign also slowed the pace of deals. Trump, however, has made it no secret that he wants to overhaul government departments, and once he takes office in January, a change in the FTC seems like it will be among his first orders of business. Plus, the Fed started cutting rates in September.</p>



<p>Dealmakers and corporate lenders are expecting a second Trump term to usher in a new era of merger and acquisition activity, while Wall Street now expects that under Trump, stalled deals like the Kroger-Albertsons grocery merger could get the green light.</p>



<p>Recent interest rate cuts from the Federal Reserve have lowered the cost of capital for companies to do deals, particularly those involving debt. The dollar-volume of M&amp;A activity in 2025 will rise 20%, compared to a 15% decline this year, says Goldman Sachs’ chief U.S. equity strategist, David Kostin.</p>



<p>“A tidal wave of tech M&amp;A and overall deal activity could now be on the horizon with Trump in the White House,” says analyst Dan Ives at Wedbush.</p>



<p>Public company CEOs have also lauded what they see as a more favorable outlook for dealmaking. Warner Bros. Discovery CEO David Zaslav told analysts on a call earlier this month that the new Trump administration would be beneficial for business consolidation.</p>



<p>Andrew Peck, co-chief investment officer at $43 billion Baron Capital, predicts that sectors like healthcare, consumer staples and especially technology—where larger companies are sitting on big cash piles—are ripe for M&amp;A activity. CFRA Chief Investment Strategist Sam Stovall agrees about healthcare and consumer staples but adds to the list depressed sectors like industrials and materials. Bank of America says that just about any company with positive cash flow, above-average sales growth and low debt levels are takeover candidates.</p>



<p>Mid-caps, which range in market capitalization from about $2 billion to $10 billion, have been the stock market’s sweet spot since the turn of the century, with the S&amp;P Midcap 400 Index posting total returns 39% higher than both the large cap S&amp;P 500 Index and Russell 2000 Small Cap Index. An investment of $10,000 in May 2000 in the MDY exchange traded fund that tracks the S&amp;P 400 has mushroomed into a value of $92,260. By comparison, $10,000 invested in the SPY, which mirrors the S&amp;P 500, and IWM, which tracks the Russell 2000, grew into $65,560 and $66,430, respectively.</p>



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



<p><strong><abbr>F</abbr>orbes decided to hunt</strong>&nbsp;for acquisition candidates among under-the-radar mid-cap stocks by selecting companies appealing to potential acquirers interested in both growth and value.</p>



<p>In screening for top targets in the growth category,&nbsp;<em>Forbes</em>&nbsp;used the following metrics: Companies with a market range of between $2 billion and $15 billion, closely approximating the typical range for mid-cap stocks. These companies are big enough to exert competitive pressure on larger cap companies in their industry, spurring takeover interest. They are also small enough to be easily digestible for larger companies, and for private equity firms and Warren Buffett-style investors in search of well-run businesses that produce consistent and rising cash flows. There are more than 10,000 private equity firms globally and according to an S&amp;P Global report earlier this year, they are sitting on a record $2.6 trillion in dry powder.</p>



<p>For our mid-cap growth candidates, we required stocks to have more than a 7% increase in current-year earnings per share and revenue. We also required a return on invested capital (ROIC) of at least 15%, a calculation used to determine how well a company allocates money to profitable projects or investments. For the value category, we additionally required shareholder yield of greater than 4% but dropped the requirement for 7% current year growth in earnings per and revenue.</p>



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



<p>On<strong>both lists&nbsp;</strong>we also considered enterprise value divided by earnings before interest, taxes, depreciation, and amortization—a metric widely used by acquiring firms that looks at the amount of cash flow generated if you were to buy all of a company’s stock and assume all of its debt. Finally, we then ranked both lists by ROIC and took the 10 stocks ranking highest in that metric.</p>



<p>Top of both the growth and value lists was Dropbox, the $8.5 billion (market capitalization) cloud storage company. Though shares are down some 7% this year, Dropbox boasted an impressive 55.6% return on invested capital, meaning that management has had a good track record of investing in profitable projects.</p>



<p>On our value list, the top performers were all in the consumer staples sector, though their share prices have largely been flat this year. These include retailer Bath &amp; Body Works, department store chain Dillard’s and footwear brand Crocs, which boasted a 37%, 28% and 26% return on invested capital, respectively.</p>



<p>The top targets in our growth list, meanwhile, include the likes of home service plan provider Frontdoor, radiopharmaceutical company Lantheus Holdings and clothing retailer Abercrombie &amp; Fitch. Many of these stocks have seen share prices jump higher in 2024 on the back of solid earnings growth: Lantheus is up 20% while Abercrombie &amp; Fitch and Frontdoor have both risen more than 50%.</p>



<p>“Regulatory shifts may open doors but won&#8217;t fundamentally change what makes a good deal good, and while a potential administration change could ease regulatory scrutiny, factors like higher interest rates could offset any surge in deal activity,” cautions Kurt Havnaer, manager of the Jensen Quality Mid Cap (JNVIX) mutual fund. “Looking ahead, acquirers will likely remain selective, focusing on deals that create tangible shareholder value through revenue synergies, market expansion, and operational efficiencies.</p>



<figure class="wp-block-image"><img decoding="async" src="https://sync.graph.bluecava.com/ds.png?p=4cb3430d-9dfd-11ef-a5fe-4201ac100015&amp;segment=forbeseval" alt=""/></figure>


Donald Trump Campaigns For President In Raleigh, North Carolina

Wall Street Expects A Dealmaking Boom Under Trump. These 20 Stocks Are Prime Targets


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



<p>The Centers for Disease Control and Prevention received guidance to immediately stop working with the World Health Organization following President Donald Trump’s decision to withdraw from the United Nations agency—though the immediate stop to work surprised CDC staff, the&nbsp;<a href="https://apnews.com/article/cdc-who-trump-548cf18b1c409c7d22e17311ccdfe1f6" rel="noreferrer noopener" target="_blank">Associated Press</a>&nbsp;and The Washington Post&nbsp;<a href="https://www.washingtonpost.com/politics/2025/01/27/trump-presidency-news/#link-PNY2UHHRDFBXFBRQW5IXX3ZW44" rel="noreferrer noopener" target="_blank">reported</a>.</p>



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



<p>Deputy Director for Global Health for the CDC John Nkengasong sent a memo to senior agency leaders Sunday advising them that agency staff who work with WHO should stop their collaborations and “await further guidance,” the&nbsp;<a href="https://apnews.com/article/cdc-who-trump-548cf18b1c409c7d22e17311ccdfe1f6" rel="noreferrer noopener" target="_blank">Associated Press</a>&nbsp;reported Monday.</p>



<p>The Washington Post&nbsp;<a href="https://www.washingtonpost.com/politics/2025/01/27/trump-presidency-news/#link-PNY2UHHRDFBXFBRQW5IXX3ZW44" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;the memo said the direction applied to “all CDC staff engaging with WHO through technical working groups, coordinating centers, advisory boards, cooperative agreements or other means” whether virtually or in person and prevents CDC staff from going to WHO offices.</p>



<p>On his first day back in office, Trump signed an&nbsp;<a href="https://www.whitehouse.gov/presidential-actions/2025/01/withdrawing-the-united-states-from-the-worldhealth-organization/" rel="noreferrer noopener" target="_blank">executive order</a>&nbsp;that began the process of withdrawing from WHO, citing “the organization’s mishandling of the COVID-19 pandemic” and that it demands “unfairly onerous payments” from the U.S.</p>



<p>It is legal from Trump to withdraw the U.S. from WHO, but the U.S. must give “a one-year notice” and meet its financial obligations to the agency for that fiscal year, according to a&nbsp;<a href="https://maint.loc.gov/law/help/statutes-at-large/80th-congress/session-2/c80s2ch469.pdf" rel="noreferrer noopener" target="_blank">joint resolution</a>&nbsp;from 1948, and there is&nbsp;<a href="https://www.washingtonpost.com/health/2025/01/21/trump-withdrawal-world-health-organization/#A5TWCZYCWRDLVD7QKHYMTW76UU-4" rel="noreferrer noopener" target="_blank">debate</a>&nbsp;around whether it requires congressional approval, as well.</p>



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



<p>Trump’s order directed the secretary of state and director of the Office of Management and Budget to pause the future transfer of funds and support to WHO and “recall and reassign” personnel working with WHO, but Dr. Jeffrey Klausner, a University of Southern California public health expert who works with WHO,&nbsp;<a href="https://apnews.com/article/cdc-who-trump-548cf18b1c409c7d22e17311ccdfe1f6" rel="noreferrer noopener" target="_blank">told the AP</a>&nbsp;“people thought there would be a slow withdrawal,” adding: “This has really caught everyone with their pants down.”</p>



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



<p>This is not the first time Trump tried to withdraw from WHO. In July 2020, he took steps to leave in the midst of the COVID-19 pandemic,&nbsp;<a href="https://edition.cnn.com/2020/05/29/politics/donald-trump-world-health-organization/index.html" rel="noreferrer noopener" target="_blank">saying</a>&nbsp;at the time the organization “failed to make the requested and greatly needed reforms” and that the U.S. would redirect “funds to other worldwide and deserving, urgent global public health needs,” CNN reported. The decision was met with criticism from Democrats and then-presidential candidate Joe Biden said he would reverse the decision if elected, which his&nbsp;<a href="https://apnews.com/article/us-who-support-006ed181e016afa55d4cea30af236227" rel="noreferrer noopener" target="_blank">administration did</a>. The WHO is a United Nations agency that works on global efforts to expand health coverage and improve global health. Any country in the United Nations is able to join WHO by accepting its&nbsp;<a href="https://www.who.int/about/governance/constitution" rel="noreferrer noopener" target="_blank">Constitution</a>.</p>



<h2 class="wp-block-heading" id="h-contra">Contra</h2>



<p>At a rally in Las Vegas on Saturday, Trump hinted that he would consider rejoining WHO, saying “maybe we would consider doing it again … maybe we would have to clean it up a bit,”&nbsp;<a href="https://www.politico.eu/article/trump-floats-reversing-decision-to-leave-who/" rel="noreferrer noopener" target="_blank">Politico</a>&nbsp;reported.</p>



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



<p>The executive order starting the process to withdraw from WHO was one of many Trump signed on his first day back in office. He&nbsp;<a href="https://www.forbes.com/sites/saradorn/2025/01/21/trumps-executive-orders-here-are-all-his-big-day-one-actions-on-immigration-energy-tiktok-and-more/">also signed</a>&nbsp;executive orders ordering mass deportations of anyone in the U.S. illegally, creating the Department of Government Efficiency, eliminating governmental programs on diversity, equity and inclusion, and more.</p>



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



<p><a href="https://apnews.com/article/cdc-who-trump-548cf18b1c409c7d22e17311ccdfe1f6" rel="noreferrer noopener" target="_blank">CDC ordered to stop working with WHO immediately, upending expectations of an extended withdrawal</a>&nbsp;(Associated Press)</p>



<p><a href="https://www.forbes.com/sites/saradorn/2025/01/21/trumps-executive-orders-here-are-all-his-big-day-one-actions-on-immigration-energy-tiktok-and-more/">Trump’s Executive Orders: Here Are All His Big Day-One Actions On Immigration, Energy, TikTok And More</a>&nbsp;(Forbes)</p>



<p><a href="https://www.politico.eu/article/trump-floats-reversing-decision-to-leave-who/" rel="noreferrer noopener" target="_blank">Trump floats reversing decision to leave WHO</a>&nbsp;(Politico)</p>



<p></p>


U.S. President Trump Seeks U.S. Withdrawal From World Health Organization

CDC Ordered To Stop Working With WHO Immediately


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



<p>Big-name billionaires worth a collective $1.2 trillion—including four of the five richest men in the world—attended the inauguration of President Donald Trump Monday morning as many looked to strengthen their relationship with the pro-business president as he takes office.&nbsp;<strong>(Follow here for&nbsp;</strong><a href="https://www.forbes.com/sites/saradorn/2025/01/20/trump-inauguration-live-updates-trump-will-return-to-office-in-hours/"><strong>Inauguration Day</strong></a><strong>&nbsp;updates.)</strong></p>



<div class="wp-block-media-text is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2025/01/GettyImages-2194374953.jpg" alt="" class="wp-image-64393 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/01/GettyImages-2194374953.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/01/GettyImages-2194374953-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/01/GettyImages-2194374953-768x512.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure><div class="wp-block-media-text__content">
<p><em><strong>Donald Trump Jr., Howard Lutnick, Sundar Pichai, Elon Musk, and Doug Burgum attend the inauguration of U.S. President-elect Donald Trump in the U.S. Capitol Rotunda on January 20, 2025 in Washington, DC. Donald Trump takes office for his second term as the 47th President of the United States. (Photo by Kenny Holston-Pool/Getty Images)</strong></em></p>
</div></div>



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



<p>The world’s three wealthiest people attended multiple inauguration morning events:<strong>&nbsp;</strong>Amazon founder<strong>&nbsp;Jeff Bezos&nbsp;</strong>(worth $239.4 billion according to Forbes’ estimates), Meta’s&nbsp;<strong>Mark Zuckerberg</strong>&nbsp;($211.8 billion) and&nbsp;<strong>Elon Musk&nbsp;</strong>($433.9 billion), the Tesla CEO, world’s richest person and presidential confidant who&nbsp;<a href="https://www.reuters.com/world/us/musk-spent-over-quarter-billion-dollars-help-elect-trump-2024-12-06/" rel="noreferrer noopener" target="_blank">spent</a>&nbsp;over a quarter of a billion dollars to help Trump win November&#8217;s election.</p>



<p>OpenAI CEO&nbsp;<strong>Sam Altman</strong>&nbsp;($1.1 billion) and Apple CEO&nbsp;<strong>Tim Cook&nbsp;</strong>($2.2 billion), who donated money to the inauguration, were in the Capitol Rotunda Monday morning, as was billionaire backer&nbsp;<strong>Miriam Adelson&nbsp;</strong>($31.9 billion) and former Fox News Chairman&nbsp;<strong>Rupert Murdoch</strong>&nbsp;($22.2 billion).</p>



<p><strong>Bernard Arnault&nbsp;</strong>($179.6 billion), the head of the LVMH Moët Hennessy Louis Vuitton luxury empire and the richest person in France, was&nbsp;<a href="https://x.com/elizlanders/status/1881398108179046670?s=46&amp;t=bUTQCdKx4w7TbNWl8KRyJw" rel="noreferrer noopener" target="_blank">at the inauguration</a>&nbsp;with his son, Alexandre.</p>



<p><strong>Mukesh Ambani</strong>&nbsp;($98.1 billion), the richest man in India,&nbsp;<a href="https://www.reuters.com/world/us/trumps-inauguration-billionaires-ceos-ambani-zuckerberg-bezos-attend-church-2025-01-20/" rel="noreferrer noopener" target="_blank">reportedly</a>&nbsp;attended inauguration events, and Trump’s friend&nbsp;<strong>Phil Ruffin</strong>, a Las Vegas casino executive worth $4.7 billion, was also spotted at the Capitol, according to&nbsp;<a href="https://www.nytimes.com/live/2025/01/20/us/trump-inauguration-president/e39d0884-13c3-5d0c-912c-72acfc9cd270?smid=url-share" rel="noreferrer noopener" target="_blank">The New York Times</a>.</p>



<p>Several billionaires and their spouses have been&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/12/22/the-billionaires-trumps-picked-for-next-administration-elon-musk-tilman-fertitta-and-more/">offered top roles</a>&nbsp;in the Trump administration, including&nbsp;<strong>Howard Lutnick</strong>&nbsp;(<a href="https://www.forbes.com/sites/danalexander/2024/11/20/the-most-hated-guy-on-wall-street-the-unspoken-story-around-howard-lutnick-trumps-pick-for-commerce-secretary/">$1.5 billion</a>) and&nbsp;<strong>Vivek Ramaswamy</strong>&nbsp;($1 billion), both of whom were seen at the inauguration.</p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="594" height="396" src="https://cms.forbesafrica.com/wp-content/uploads/2025/01/GettyImages-2194369892.jpg" alt="" class="wp-image-64391" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/01/GettyImages-2194369892.jpg 594w, https://cms.forbesafrica.com/wp-content/uploads/2025/01/GettyImages-2194369892-300x200.jpg 300w" sizes="auto, (max-width: 594px) 100vw, 594px" /><figcaption class="wp-element-caption"><strong><em>(Photo by Kenny Holston-Pool/Getty Images)</em></strong></figcaption></figure>



<p>Coinbase CEO&nbsp;<strong>Brian Armstrong</strong>&nbsp;($12.8 billion) was invited to inauguration-related events, according to&nbsp;<a href="https://www.bloomberg.com/news/articles/2025-01-10/openai-meta-uber-ceos-plan-to-attend-trump-inauguration-events" rel="noreferrer noopener" target="_blank">Bloomberg</a>, but hadn’t yet been seen as of the swearing in.</p>



<p>Other billionaires who have been offered jobs in the administration, but their attendance wasn’t confirmed, include&nbsp;<strong>Stephen Feinberg</strong>&nbsp;($5 billion),&nbsp;<strong>Warren Stephens</strong>&nbsp;($3.4 billion),&nbsp;<strong>Jared Isaacman</strong>&nbsp;($1.9 billion),&nbsp;<strong>Steve Witkoff&nbsp;</strong>($1 billion), Linda McMahon (husband&nbsp;<strong>Vince McMahon</strong>&nbsp;is worth $3 billion) and Kelly Loeffler (husband&nbsp;<strong>Jeff Sprecher</strong>&nbsp;is worth $1.1 billion).</p>



<p>Zuckerberg co-hosted a pre-Inaugural Ball&nbsp;<a href="https://puck.news/mark-zuckerberg-is-throwing-an-inauguration-party-for-trump/?_gl=1*17fobxi*_up*MQ..*_ga*OTIwODg3ODI1LjE3MzY5MzkxMjY.*_ga_SEFD191RFM*MTczNjkzOTEyNi4xLjAuMTczNjkzOTEyNi4wLjAuMA.." rel="noreferrer noopener" target="_blank">reception</a>&nbsp;for Trump alongside Adelson,<strong>&nbsp;Tilman Fertitta</strong>&nbsp;($10.2 billion) and Todd Ricketts, whose father&nbsp;<strong>J. Joe Ricketts</strong>&nbsp;and family are worth an estimated $4.2 billion.</p>



<h2 class="wp-block-heading">How Much Is Trump Worth?</h2>



<p><strong>Trump&nbsp;</strong>himself is worth an estimated $6.7 billion thanks to his stake in Truth Social&#8217;s parent company, his real estate investments and other assets.</p>



<h2 class="wp-block-heading">What Other Billionaires Could Attend?</h2>



<p>Dozens of other billionaires also&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2024/10/30/kamala-harris-has-more-billionaires-prominently-backing-her-than-trump-bezos-and-griffin-weigh-in-updated/">supported Trump</a>&nbsp;on his road to a second term who haven’t been confirmed as attendees, including&nbsp;<strong>Robert “Woody” Johnson</strong>&nbsp;($3.3 billion),&nbsp;<strong>Elizabeth&nbsp;</strong>and&nbsp;<strong>Richard Uihlein</strong>&nbsp;(each worth $5.9 billion),&nbsp;<strong>Roger Penske</strong>&nbsp;($6.5 billion) and&nbsp;<strong>Timothy Mellon</strong>&nbsp;(family was worth $14.1 billion).</p>



<h2 class="wp-block-heading">Did Billionaires Like Musk, Bezos And Zuckerberg Back Trump’s Campaign?</h2>



<p>Some of them did, but others either stayed out of the presidential race or were Trump foes before they started trying to make nice. Zuckerberg’s Meta previously&nbsp;<a href="https://www.forbes.com/sites/jemimamcevoy/2021/01/07/mark-zuckerberg-blasts-trump-and-announces-indefinite-ban-on-presidents-facebook-instagram-accounts/">banned</a>&nbsp;Trump from Instagram and Facebook—and Trump once&nbsp;<a href="https://www.politico.com/news/2024/08/28/trump-zuckerberg-election-book-00176639" rel="noreferrer noopener" target="_blank">threatened</a>&nbsp;to send him to prison—before he fell in line following the election results. Since then, Zuckerberg has&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2024/12/23/ford-will-donate-1-million-fleet-of-vehicles-to-trump-inauguration-latest-company-to-contribute/">donated</a>&nbsp;$1 million to his inaugural fund,&nbsp;<a href="https://www.reuters.com/technology/trump-zuckerberg-meet-mar-a-lago-semafor-reports-2025-01-11/" rel="noreferrer noopener" target="_blank">met with Trump</a>&nbsp;at Mar-A-Lago, made&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2025/01/07/meta-ditches-fact-checks-for-x-style-community-notes-zuckerberg-says-it-will-restore-free-expression/">changes</a>&nbsp;to how its platforms fact-check posts and put Trump’s friend Dana White on Meta’s board. In the leadup to the election, Zuckerberg did not endorse a candidate but did&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-07-19/mark-zuckerberg-calls-donald-trump-badass-without-endorsing-for-president" rel="noreferrer noopener" target="_blank">call</a>&nbsp;Trump’s response to his assassination attempt “badass.” Bezos also has a history of clashing with Trump: Amazon in 2019&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2019/12/09/amazon-blames-trumps-personal-dislike-of-bezos-for-losing-pentagon-jedi-contract/">blamed Trump&#8217;s</a>&nbsp;&#8220;personal dislike&#8221; of Bezos for losing a multibillion-dollar cloud computing contract with the Pentagon, and Trump has been critical of the Bezos-owned Washington Post. Bezos didn’t endorse Trump last year but&nbsp;<a href="https://x.com/JeffBezos/status/1812315786507088370?lang=en" rel="noreferrer noopener" target="_blank">said</a>&nbsp;he “showed tremendous grace and courage under literal fire” following the assassination attempt, and donated $1 million to the inaugural fund. Others have supported him all along. Musk is among Trump’s biggest donors, alongside&nbsp;<a href="https://www.forbes.com/profile/miriam-adelson/?list=rtb/">Adelson</a>, the widow of billionaire Las Vegas Sands CEO Sheldon Adelson, who donated $100 million to the pro-Trump super PAC Preserve America during the election.&nbsp;<a href="https://www.forbes.com/profile/tilman-fertitta/?list=rtb/">Fertitta</a>, owner of the Houston Rockets and Landry’s restaurant group, has been nominated to serve as U.S. ambassador to Italy after the Texas billionaire&nbsp;<a href="https://www.texastribune.org/2024/12/21/donald-trump-tilman-fertitta-ambassador/" rel="noreferrer noopener" target="_blank">hosted a fundraiser</a>&nbsp;for Trump last year. Ricketts, a co-owner of the Chicago Cubs, has been a&nbsp;<a href="https://www.newyorker.com/news/the-political-scene/trump-collides-with-the-world-of-baseball" rel="noreferrer noopener" target="_blank">major fundraiser</a>&nbsp;for Republican politicians and, while he initially fundraised within the party against Trump during his first campaign, he ultimately went on to spearhead pro-Trump fundraising in 2020 and&nbsp;<a href="https://www.chicagobusiness.com/politics/todd-ricketts-attending-trump-campaign-fundraiser" rel="noreferrer noopener" target="_blank">last year</a>.</p>



<h2 class="wp-block-heading">Tangent</h2>



<p>Other corporate leaders planned on attending the inauguration, including Pfizer CEO Albert Bourla and Walmart CEO Doug McMillon, according to the&nbsp;<a href="https://www.wsj.com/politics/policy/donald-trump-inauguration-ceos-business-fundraising-2b0d5086" rel="noreferrer noopener" target="_blank">Wall Street Journal</a>. TikTok CEO Shou Zi Chew attended, after his platform took itself offline Sunday due to a nationwide ban taking effect—and restored service when Trump vowed to delay the ban upon taking office. Other supporters are throwing events around Washington over inauguration weekend,&nbsp;<a href="https://www.wsj.com/politics/policy/donald-trump-inauguration-ceos-business-fundraising-2b0d5086" rel="noreferrer noopener" target="_blank">including</a>&nbsp;an “Inaugural Crypto Ball” that featured Snoop Dogg and a party held by Uber and its CEO&nbsp;<a href="https://www.bloomberg.com/news/articles/2025-01-10/openai-meta-uber-ceos-plan-to-attend-trump-inauguration-events" rel="noreferrer noopener" target="_blank">Dara Khosrowshahi</a>. James Quincey, CEO of Coca-Cola Company, on Tuesday&nbsp;<a href="https://x.com/margomartin/status/1879330618225676448" rel="noreferrer noopener" target="_blank">presented Trump</a>&nbsp;with the &#8220;first ever Presidential Commemorative Inaugural Diet Coke bottle.&#8221; Microsoft, Ford, Google and AI search startup Perplexity also&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2025/01/09/google-will-donate-another-1-million-to-trumps-record-high-inaugural-fund/">donated $1 million</a>&nbsp;to the inaugural fund.&nbsp;<a href="https://www.wsj.com/politics/policy/donald-trump-inauguration-ceos-business-fundraising-2b0d5086" rel="noreferrer noopener" target="_blank">Ripple</a>, a crypto company, gave $5 million worth of its cryptocurrency to the inaugural committee. Other major donors include Goldman Sachs, Intuit, Toyota, Pharmaceutical Research and Manufacturers of America, General Motors, Bank of America, AT&amp;T and Stanley Black &amp; Decker, the&nbsp;<a href="https://www.wsj.com/business/trump-inauguration-sponsors-large-company-donations-a3cc1b92?mod=article_inline" rel="noreferrer noopener" target="_blank">Journal reported</a>.</p>



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



<p>More than $170 million. That’s how much Trump’s inaugural fund is believed to&nbsp;<a href="https://www.nytimes.com/2025/01/08/us/politics/trump-inauguration-donors.html" rel="noreferrer noopener" target="_blank">have raised,</a>&nbsp;almost three times as much as the $62 million raised by President Joe Biden four years ago and well above the previous record of $107 million, set by Trump&#8217;s 2016 inauguration. Donors who gave $1 million, or raised $2 million from others, were&nbsp;<a href="https://www.wsj.com/business/trump-inauguration-sponsors-large-company-donations-a3cc1b92?mod=article_inline" rel="noreferrer noopener" target="_blank">reportedly given</a>&nbsp;six tickets to a series of events in the days leading up to the inauguration, including a “candlelight dinner” with Trump and Melania Trump and a black-tie ball.</p>


The Inauguration Of Donald J. Trump As The 47th President

Billionaires Worth A Combined $1.2 Trillion Attended Trump’s Inauguration: Here’s Who Was There—From Musk To Bezos


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



<p>The price of Bitcoin crossed $100,000 for the first time and hit an all-time high of nearly $104,000 late on Wednesday, as the world’s most valuable cryptocurrency continued its post-election bull run as President-elect Donald Trump has vowed to embrace crypto-friendly policies.</p>



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



<p>Bitcoin hit an all-time high of $103,900 on Wednesday night before settling at around $103,100 just before midnight, up 7.62% in the past 24 hours.</p>



<p>The $100,000 mark was breached for the first time late on Wednesday evening after the token’s price hovered just under $98,000 for nearly two weeks in what initially appeared to be a flattening of the post-election bull run.</p>



<p>Bitcoin’s price has risen more than 36% since election day, when it was valued at around $75,600.</p>



<p>Ether, the second most valuable crypto token, also appeared to be buoyed by Bitcoin’s surge and rose to $3,870 on Wednesday night, up more than 5.4% in the past 24 hours.</p>



<h2 class="wp-block-heading" id="h-news-peg">News Peg</h2>



<p>Earlier on Wednesday, Trump announced Paul Atkins as his pick for the Securities And Exchange Commission’s chair role. Trump alluded to his pro-crypto view in his&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/113595807734621827" rel="noreferrer noopener" target="_blank">announcement</a>, describing Atkins as someone who “recognizes that digital assets &amp; other innovations are crucial to Making America Greater than Ever Before.” Last month, current SEC Chair Gary Gensler&nbsp;<a href="https://www.sec.gov/newsroom/press-releases/2024-182" rel="noreferrer noopener" target="_blank">announced</a>&nbsp;his plans to step down in January. The crypto world reacted to the news of Gensler’s exit with&nbsp;<a href="https://decrypt.co/292941/crypto-industry-bids-farewell-gary-gensler" rel="noreferrer noopener" target="_blank">relief and joy</a>&nbsp;as the SEC under his leadership had undertaken several enforcement actions against crypto companies—including major exchanges.</p>



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



<p>133.41%. The rise in Bitcoin’s price since the start of this year, when it was at $44,200.</p>



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



<p>The post-election surge in Bitcoin and other cryptocurrency prices has come as Trump has vowed to be the “crypto president,” and move away from the Biden administration’s regulatory actions against the industry. The president-elect has promised to transform the U.S into the “crypto capital of the planet,” and has vowed to “keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future.” The pro-crypto embrace is a major shift in stance for Trump who previously&nbsp;<a href="https://www.bbc.com/news/business-57392734" rel="noreferrer noopener" target="_blank">expressed skepticism</a>&nbsp;about the industry and called it a “scam” and a disaster waiting to happen.</p>



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



<p><a href="http://www.forbes.com/sites/dereksaul/2024/11/13/bitcoin-price-crosses-90000-for-first-time-ever-amid-trump-crypto-surge/">Bitcoin Price Crosses $90,000 For First Time Ever Amid Trump Crypto Surge</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/2024/12/02/ripples-xrp-is-now-the-fourth-largest-cryptocurrency-after-100-billion-post-election-surge/">XRP Is Now The Fourth Largest Cryptocurrency After $100 Billion Post-Election Surge</a> (Forbes)<a href="https://www.forbes.com/sites/siladityaray/"></a></p>


Mid-section of young Asian woman using smartphone in city at night, against illuminated street lights bokeh, working with Bitcoin technologies, investing or trading Bitcoin on cryptocurrency. Business on the go

Bitcoin Surges Past $100,000 For The First Time


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



<p>Donald Trump announced Saturday he would impose a 100% tariff on BRICS nations if they try to replace the dollar in international trade, impacting a group of major developing economies whose members include Russia, India, China and Iran, among others, marking the latest threats by the president-elect to impose tariffs on imports from several countries.</p>



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



<p>In a&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/113573130299319701" rel="noreferrer noopener" target="_blank">post</a>&nbsp;on Truth Social, Trump said the 100% tariff would affect all BRICS countries—Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates—until they commit to not creating a new BRICS currency or back another currency that could replace the “mighty” dollar.</p>



<p>Brazilian President Inacio Luiz&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-04-13/lula-supports-brics-currency-to-replace-dollar-in-foreign-trade?leadSource=uverify%20wall" rel="noreferrer noopener" target="_blank">called on</a>&nbsp;BRICS nations to develop an alternative to the dollar in foreign trade last year, arguing countries that don’t use the dollar should not be forced to use the currency, while&nbsp;<a href="https://www.reuters.com/markets/currencies/what-is-brics-currency-could-one-be-adopted-2023-08-23/" rel="noreferrer noopener" target="_blank">suggesting</a>&nbsp;a new BRICS-supported currency “increases our payment options and reduces our vulnerabilities.”</p>



<p>There is “no chance” BRICS could replace the dollar in international trade, and any country that tries to do so should “wave goodbye to America,” Trump said.</p>



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



<p>“The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is OVER,” Trump wrote, adding the nations “should expect to say goodbye to selling into the wonderful U.S. economy.”</p>


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2024/11/GettyImages-2183216841.jpg" alt="" class="wp-image-63584" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/11/GettyImages-2183216841.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/GettyImages-2183216841-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/GettyImages-2183216841-768x512.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption"><strong><em>(Photo by Chip Somodevilla/Getty Images)</em></strong></figcaption></figure></div>


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



<p>Trump’s proposed tariffs on imports from BRICS nations is his latest economic threat in recent weeks. BRICS was founded as an informal international group in 2006 by Brazil, Russia, India and China, though its membership&nbsp;<a href="https://infobrics.org/page/history-of-brics/" rel="noreferrer noopener" target="_blank">expanded</a>&nbsp;to more nations with “reflecting common stances on topical global development issues,” according to the organization. The group has increasingly called for reduced dependence on the U.S. as it aims to establish new financial organizations. Earlier this month, Trump announced a 10% tariff on Chinese goods and a 25% tariff on all products from Mexico and Canada, which he said would remain until the three nations curb the flow of fentanyl into the U.S. and migrants. Trump has claimed the tariffs would protect American jobs, though&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2024/09/10/will-trumps-tariffs-raise-prices-what-to-know-as-kamala-harris-slams-policy-at-debate/">experts</a>&nbsp;have claimed his proposed tariffs could substantially raise prices for American consumers. During his first administration, Trump launched a trade war with China after imposing tariffs that targeted $200 billion worth of Chinese imports.</p>



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



<p>Canadian Prime Minister Justin Trudeau said Saturday he had an “excellent conversation” with Trump after he threatened Canada with tariffs. The pair had a “positive wide-ranging dinner” with topics that included trade, border security, Ukraine and China, among others, <a href="https://apnews.com/article/trudeau-trump-canada-tariffs-mexico-border-e0ee7f9b3dddc80d1260585c11869fff" target="_blank" rel="noreferrer noopener">according</a> to the Associated Press. President Claudia Sheinbaum <a href="https://www.forbes.com/sites/tylerroush/2024/11/26/mexico-could-hit-us-with-tariffs-in-retaliation-for-trumps-threats-president-suggests/">suggested</a> earlier this week Mexico would impose tariffs on the U.S. in response to Trump’s tariff proposals. Sheinbaum said she would be meeting with Trump “soon.”</p>


Brics Summit in Johannesburg, South Africa August 22-24, 2023

Donald Trump Threatens BRICS Countries—Including Russia, India—With 100% Tariffs


<h2 class="wp-block-heading" id="h-topline"><a href="https://www.forbes.com/"></a><a href="https://www.forbes.com/search/"></a>Topline</h2>



<p>President-elect Donald Trump on Wednesday named ex-Democratic Rep. Tulsi Gabbard as his director of national intelligence, praising her experience as a veteran and her “broad support in both Parties” when announcing her appointment, even as Gabbard has blasted Democrats since leaving the party and emerged as a controversial figure on foreign policy matters.</p>



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



<p>Gabbard—who served in the House representing Hawaii from 2013 to 2021 and briefly ran for president as a Democrat in 2020—<a href="https://www.forbes.com/sites/mollybohannon/2024/08/26/ex-democratic-candidate-tulsi-gabbard-endorses-trump/">endorsed</a>&nbsp;Trump in August and joined his&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/08/27/trump-putting-rfk-jr-and-tulsi-gabbard-on-transition-team/">transition team</a>&nbsp;shortly after.</p>



<p>Gabbard left the Democratic Party in 2022 to become an independent, saying at the time that Democrats were an “elitist cabal of warmongers driven by cowardly wokeness,” before&nbsp;<a href="https://nypost.com/2024/10/22/us-news/former-dem-rep-tulsi-gabbard-announces-shes-joined-republican-party-at-trump-rally/" rel="noreferrer noopener" target="_blank">joining</a>&nbsp;the Republican Party this October.</p>



<p>Gabbard has long been a critic of U.S. foreign policy—recently criticizing U.S.&nbsp;<a href="https://x.com/TulsiGabbard/status/1848480251023868237" rel="noreferrer noopener" target="_blank">aid</a>&nbsp;to Ukraine—and The&nbsp;<a href="https://www.nytimes.com/2024/11/13/us/politics/trump-tulsi-gabbard-director-national-intelligence.html" rel="noreferrer noopener" target="_blank">New York Times reported</a>&nbsp;her selection as director of intelligence indicates Trump’s intention to give foreign policy roles to those “deeply skeptical of the effectiveness of U.S. military intervention abroad.”</p>



<p>She drew criticism in 2017 after she quietly visited Syria and met with President Bashar al-Assad,&nbsp;<a href="https://www.cnn.com/2017/01/25/politics/tulsi-gabbard-lead-syria/index.html" rel="noreferrer noopener" target="_blank">saying</a>&nbsp;at the time she did so “because I felt that it’s important that if we profess to truly care about the Syrian people, about their suffering, then we’ve got to be able to meet with anyone that we need to if there is a possibility that we can achieve peace.”</p>



<p>Two years later, during her presidential run, Gabbard&nbsp;<a href="https://www.politico.com/story/2019/03/10/tulsi-gabbard-assad-syria-1214882" rel="noreferrer noopener" target="_blank">refused</a>&nbsp;to call him a war criminal and&nbsp;<a href="https://www.cnn.com/2019/02/06/politics/tulsi-gabbard-syria-assad/index.html" rel="noreferrer noopener" target="_blank">said</a>&nbsp;he was “not the enemy of the United States because Syria does not pose a direct threat to the United States.”</p>



<p>Gabbard also did not give a direct answer when asked if she would trust the U.S. intelligence community if she were elected,&nbsp;<a href="https://www.politico.com/story/2019/03/10/tulsi-gabbard-assad-syria-1214882" rel="noreferrer noopener" target="_blank">saying</a>, “We have, in our recent past, a situation where our own government told lies to the American people, and to the United Nations for that matter, to launch a war,” referencing the 2003 invasion of Iraq.</p>



<p>Gabbard was a member of the Hawaii National Guard and was deployed to Iraq in 2005, and said she endorsed Trump in part because she said he sees “war as a last resort” and “understands the grave responsibility that a president” bears for the lives of those serving their country.”</p>



<h2 class="wp-block-heading" id="h-what-does-the-director-of-national-intelligence-do">What Does The Director Of National Intelligence Do?</h2>



<p>If confirmed by Congress, Gabbard would be responsible for overseeing the implementation of the National Intelligence Program and acting as the main adviser to Trump, the National Security Council and the Homeland Security Council on intelligence matters tied to national security. Gabbard would oversee 18 different spy agencies, The&nbsp;<a href="https://www.nytimes.com/2024/11/13/us/politics/trump-tulsi-gabbard-director-national-intelligence.html" rel="noreferrer noopener" target="_blank">New York Times reported</a>, and would also prepare a daily briefing for Trump—which he reportedly did not often read in his first term. John Ratcliffe—who Trump recently named as his pick for the director of the CIA—served as the director of intelligence during Trump’s first term.</p>



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



<p>Gabbard, in a&nbsp;<a href="https://x.com/TulsiGabbard/status/1856798431605657969" rel="noreferrer noopener" target="_blank">tweet</a>, thanked Trump “for the opportunity to serve as a member of your cabinet to defend the safety, security and freedom of the American people.”</p>



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



<p>Since leaving the Democratic Party, Gabbard has been a frequent guest on conservative news outlets and vocally critical of Democrats,&nbsp;<a href="https://time.com/7096376/tulsi-gabbard-democrat-republican-political-evolution-history-trump/" rel="noreferrer noopener" target="_blank">calling</a>&nbsp;Trump’s opponent Vice President Kamala Harris “anti-freedom … pro-censorship … pro-open borders … pro-war without even pretending to care about peace.” She was rumored to be in the running to be Trump’s running mate, and said in May she would “be honored” to do so. After endorsing Trump this year, she helped him prepare for his debate against Harris, which the Trump team said was in part because she “successfully dominated Kamala Harris on the debate stage in 2020.”</p>



<h2 class="wp-block-heading" id="h-news-peg">News Peg</h2>



<p>Trump has been steadily announcing his&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/11/13/trumps-cabinet-here-are-his-picks-for-key-roles-stephen-miller-elon-musk-pete-hegseth-and-more/">cabinet picks</a>&nbsp;since winning the election. Other notable appointments so far include billionaires Elon Musk and Vivek Ramaswamy to lead the new “Department of Government Efficiency,” Pete Hegseth as secretary of defense and Rep. Matt Gaetz, R-Fla., as attorney general.</p>



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



<p>If confirmed, Gabbard will replace Avril Haines, who was sworn in under President Joe Biden in 2021 and became the first woman to lead the U.S. intelligence community.</p>


Republican Presidential Nominee Donald Trump Campaigns In Pennsylvania

What To Know About Tulsi Gabbard—Former Democrat Named Trump’s Director Of National Intelligence


<p>The 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, is a pivotal moment for African nations advocating for significant climate finance to address the dire consequences of climate change on the continent. The re-election of U.S. President Donald Trump, a known climate change skeptic, casts a shadow over negotiations, raising questions about future global commitments.</p>



<p><strong>A Continent at a Crossroads</strong></p>



<p>&#8220;Africa contributes the least to global greenhouse gas emissions yet suffers the most from climate change impacts,&#8221; says Dr Christopher Trisos, Senior Research Officer at the African Climate and Development Initiative (ACDI) at the University of Cape Town. In an interview with FORBES AFRICA,Trisos emphasizes the urgency: &#8220;The 2020s must be a decade of accelerated climate action if we are to limit the worst impacts of climate change. Delays now mean increased warming and more severe consequences for the continent.&#8221;</p>



<p>African nations face intensified droughts, floods, and extreme weather, threatening livelihoods and economies. The Intergovernmental Panel on Climate Change (IPCC) warns Africa is among the most vulnerable continents due to high exposure and low adaptive capacity.</p>



<p><strong>The Impact of Trump&#8217;s Re-election</strong></p>



<p>Trump&#8217;s return introduces significant uncertainties into negotiations. &#8220;The re-election of Trump puts the U.S. delegation in a difficult position,&#8221; Trisos notes. &#8220;Having an outspoken climate change denier back in the White House is a setback for enhancing action within the United States and globally.&#8221;</p>



<p>Previously, Trump withdrew the U.S. from the Paris Agreement, undermining international efforts. His stance raises fears of diminished support for crucial climate initiatives. &#8220;It complicates the picture because with his isolationist and anti-climate action policies, the U.S. will be seen as a much less trusted partner,&#8221; Trisos adds.</p>



<p><strong>South Africa&#8217;s Leadership and Challenges</strong></p>



<p>As Africa&#8217;s most industrialized nation and largest emitter, South Africa plays a critical role, balancing economic development with the imperative to reduce emissions.</p>



<p>South Africa&#8217;s Just Energy Transition Partnership (JETP), announced at COP26, involves $8.5 billion in funding to support the shift from coal to renewables. However, implementation faces hurdles requiring a balance to increase renewables without constraining economic development.</p>



<p><strong>The Quest for Equitable Climate Finance</strong></p>



<p>At COP29&#8217;s heart is establishing a New Collective Quantified Goal (NCQG) on climate finance. Despite a decade-old pledge by developed nations to mobilize $100 billion annually by 2020, this target hasn&#8217;t been fully met. &#8220;It&#8217;s widely acknowledged they missed that target,&#8221; says Trisos. &#8220;Developed countries often do the accounting themselves without independent audits, leading to disputes over actual amounts delivered.&#8221;</p>



<p>According to a report by the United Nations Conference on Trade and Development (UNCTAD), developing countries require around $1.1 trillion annually from 2025, rising to $1.8 trillion by 2030. The NCQG aims to reflect these needs based on scientific assessments.</p>



<p>&#8220;Getting the climate finance right is essential,&#8221; Trisos asserts. &#8220;It&#8217;s not just about numbers; it&#8217;s about equitable distribution and ensuring that finance doesn&#8217;t increase debt burdens on developing nations.&#8221;</p>



<p><strong>Voices from the Continent</strong></p>



<p>At COP29, Ambassador Seyni Nafo, Coordinator of the Africa Adaptation Initiative, emphasized the need for increased climate finance. He stated, &#8220;The new collective quantified goal on climate finance must reflect the real needs of developing countries, particularly in Africa, to build resilience against climate impacts.&#8221;</p>



<p>Youth activists are making their voices heard. Ayakha Melithafa, a South African climate activist and member of the Presidential Climate Commission, stressed the importance of immediate action: &#8220;We are the generation that will face the consequences of inaction. Our leaders must commit to real change now.&#8221;</p>



<p><strong>Challenges in Carbon Markets and Offsets</strong></p>



<p>Carbon offsets and trading mechanisms are contentious at COP29. While they offer potential pathways for climate finance, concerns about effectiveness persist. &#8220;There have been recent scandals in voluntary carbon markets where the amount of carbon offset was inflated,&#8221; Trisos points out. &#8220;This undermines trust and can result in a worse situation if emissions are not genuinely reduced.&#8221;</p>



<p>Lack of robust regulations raises greenwashing risks. &#8220;The rules adopted are not clear enough on what happens if, for instance, a forest planted as a carbon offset burns down due to climate change,&#8221; he explains. &#8220;We need stringent standards to ensure environmental integrity.&#8221;</p>



<p><strong>Navigating Global Conflicts and Military Emissions</strong></p>



<p>Global conflicts and military activities add complexity. &#8220;The world&#8217;s militaries are massive emissions operations,&#8221; says Trisos. &#8220;For example, the U.S. military, if it were a country, would rank high globally in emissions.&#8221;</p>



<p>He cautions against militarizing climate solutions: &#8220;Viewing climate change as a security threat to be solved by militaries reduces the opportunity for creating a more just future through collaboration and equitable finance.&#8221;</p>



<p><strong>Financing Africa’s Climate Future</strong></p>



<p>Despite challenges, pathways to a sustainable future are emerging, and redirecting global finance toward climate action is essential. &#8220;There is more than sufficient global finance to address the climate crisis,&#8221; notes Trisos. &#8220;What&#8217;s missing is the regulation and political will to allocate that finance towards climate action rather than fossil fuels.&#8221;</p>



<p>Innovative financing mechanisms, like a global frequent flyers tax, could generate funds without burdening developing nations. African nations are prioritizing regional collaborations and renewable energy projects.</p>



<p>As COP29 progresses, urgency for concrete action intensifies. While Trump’s re-election raises uncertainties, African nations remain resolute. &#8220;Climate finance is not charity; it&#8217;s a matter of justice,&#8221; asserts Trisos. &#8220;Those who have contributed most to the climate crisis must support those who are bearing the brunt.&#8221;</p>



<p>Ultimately, COP29&#8217;s success hinges on nations’ ability to rise above political challenges and uphold commitments. &#8220;African countries are at a crossroads,&#8221; Trisos concludes. &#8220;The decisions made today will determine whether we can build a more sustainable and equitable future.&#8221;</p>


COP29 UNFCCC Climate Conference In Baku

Africa’s Climate Finance Demands At COP29: Navigating Global Challenges Amid Trump’s Return


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



<p>Republicans officially clinched control of the House of Representatives on Wednesday night, affirming GOP control of both chambers of Congress and the White House.</p>



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



<p>The Associated Press&nbsp;<a href="https://apnews.com/live/senate-house-election-updates-11-7-2024" rel="noreferrer noopener" target="_blank">called</a>&nbsp;the contest for Republicans around 10:30 p.m. EST on Wednesday, after Rep. Juan Ciscomani, R-Ariz., won reelection, giving Republicans the 218 seats needed to retain their majority.</p>



<p>Nine seats remain to be called—Democrats lead in five of those contests and Republicans are ahead in the other four.</p>



<h2 class="wp-block-heading" id="h-which-seats-have-flipped-in-the-house">Which Seats Have Flipped In The House?</h2>



<p>Republicans flipped a seat in&nbsp;<a href="https://apnews.com/article/election-colorado-house-evans-ea159f328a7a3b8745724bfb90ac5124" rel="noreferrer noopener" target="_blank">Colorado</a>, two Pennsylvania districts (District 7 and District 8) and&nbsp;<a href="https://apnews.com/article/michigan-house-hertel-barrett-mcdonald-rivet-junge-83ce19c9cc64f23c6ee42fe0b3087892" rel="noreferrer noopener" target="_blank">a district in Michigan</a>. Democrats&nbsp;<a href="https://apnews.com/article/race-call-riley-wins-new-york-u-s-house-district-718ce3a0d3914b89b2680f586290164d" rel="noreferrer noopener" target="_blank">flipped three seats</a>&nbsp;in New York (District 4, District 19 and District 22).</p>



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



<p><em>“</em>We still have a number of races outstanding, but we&#8217;re very optimistic about those and we are looking forward to governing in unified government beginning in January,” House Speaker Mike Johnson, R-La., said&nbsp;<a href="https://www.c-span.org/video/?539939-1/house-republican-agenda" rel="noreferrer noopener" target="_blank">Tuesday</a>.</p>



<h2 class="wp-block-heading" id="h-why-haven-t-all-the-votes-been-counted-yet">Why Haven&#8217;t All The Votes Been Counted Yet?</h2>



<p>Some states, particularly in the&nbsp;<a href="https://www.nytimes.com/interactive/2024/us/elections/results-timing-presidential-race-calls.html" rel="noreferrer noopener" target="_blank">western U.S.</a>, take longer to tally ballots because of state election operations. California is known to take more time than the rest of the country to finalize its results. It’s the only state with&nbsp;<a href="https://electionresults.sos.ca.gov/unprocessed-ballots-status" rel="noreferrer noopener" target="_blank">millions</a>&nbsp;of remaining ballots uncounted as of Wednesday. California’s election officials need more time because the state has by far the&nbsp;<a href="https://www.census.gov/popclock/embed.php?component=populous" rel="noreferrer noopener" target="_blank">largest population</a>&nbsp;in the country. The state’s voting processes are more abundant and require more effort, such as its&nbsp;<a href="https://www.nytimes.com/2024/11/11/us/california-ballot-count-house-election.html" rel="noreferrer noopener" target="_blank">rule to give every registered voter a mail-in ballot</a>, which makes it easy for citizens to vote but requires more work (through hours of phone calls) to verify whether the ballot was filled out incorrectly.</p>



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



<p>The House now holds enormous importance for&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/11/06/election-2024-harris-concedes-election-says-we-must-accept-the-results/">President-elect Donald Trump’s</a>&nbsp;ability to legislate when he takes office after Republicans&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2024/11/06/republicans-win-senate-control-ending-democrats-narrow-majority/">won a majority</a>&nbsp;in the Senate on Tuesday. With the GOP winning control, it gives the party unified control of government. “We believe we can be the most consequential Congress of modern politics,” Johnson said at a Tuesday news conference. Republicans won a tight majority in the House in 2022, claiming 222 seats, including&nbsp;<a href="https://www.nytimes.com/interactive/2022/11/08/us/elections/results-house.html" rel="noreferrer noopener" target="_blank">several competitive seats</a>&nbsp;in Arizona, California, New York, Virginia and Nebraska. Democrats secured a Senate majority in 2021, later solidifying that number in 2023. The period of a divided Congress since has been marred by Republican infighting and lessened productivity—partly due to Congress’ partisan split and partly because of the GOP’s narrow majority, which allows a tiny number of lawmakers to control the fate of legislation. In October 2023, Republicans and Democrats voted for the&nbsp;<a href="https://www.npr.org/2023/10/04/1203462629/kevin-mccarthy-speaker-matt-gaetz-congress-vote" rel="noreferrer noopener" target="_blank">first ouster</a>&nbsp;of the House speaker in history, driving out then-Speaker Kevin McCarthy, R-Calif., an action led by hard-right Trump ally Rep. Matt Gaetz, R-Fla. The move was highly disruptive because of the extensive voting processes and the search for a new speaker. That year, the House also struggled to pass legislation, passing 27 bills after voting 724 times. That’s fewer bills passed than any other term since 2013, The New York Times&nbsp;<a href="https://www.nytimes.com/2023/12/19/us/politics/house-republicans-laws-year.html" rel="noreferrer noopener" target="_blank">reported</a>, citing research from the Bipartisan Policy Center. Congress narrowly avoided several government shutdowns over the past two years. With this election, Republicans were predicted to take control of the House by a slim margin of 30 seats or less, according to&nbsp;<a href="https://projects.fivethirtyeight.com/2024-election-forecast/house/" rel="noreferrer noopener" target="_blank">FiveThirtyEight</a>.</p>



<h2 class="wp-block-heading" id="h-which-house-results-were-historic">Which House Results Were Historic?</h2>



<p>Several races made history in this election. Democrat Sarah McBride was elected to a Delaware House seat, becoming the <a href="https://apnews.com/article/delaware-house-race-election-mcbride-whalen-4a80f4a9852240a890bb820c53ef882b" target="_blank" rel="noreferrer noopener">first openly transgender Congress</a> member with the win. Republican Julie Fedorchak won North Dakota’s sole House seat, becoming the first woman elected to the House in North Dakota, and Democrat Julie Johnson became the first openly gay woman to represent Texas in the House. Democrat Yassamin Ansari <a href="https://apnews.com/projects/election-results-2024/arizona/?r=3008" target="_blank" rel="noreferrer noopener">won</a> her seat in Arizona and became the first Iranian American elected to the U.S. House.</p>


President Donald Trump Holds Election Night Event At The White House

Republicans Win Control Of The House—Giving Trump Unified Government


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



<p>The price of Bitcoin breached $82,000 for the first time ever early on Monday, continuing its post-election bull run as President-elect Donald Trump has promised to bolster the industry while several pro-crypto candidates won down-ballot races.</p>



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



<p>The world’s most valuable cryptocurrency hit an all-time high of $82,197 in early Monday trading, up more than 19.5% compared to last week.</p>



<p>Bitcoin breached the $80,000 mark for the first time on Sunday after a big weekend rally—breaking the election night high of $75,000.</p>



<p>The price of Ether—the second most valuable crypto token—has risen by an even biggest 28.7% over the past week to $3,165.</p>



<p>Other popular crypto tokens including Dogecoin, Solana’s SOL and Binance’s BNB have also surged in value in the past week—with volatile and popular meme coin DOGE’s price rising by 83%.</p>



<p>The crypto price boom has led to surge in the share price of related stocks like Coinbase—whose price has surged 50% in the past five days and is up another 15.6% in pre-market trading early on Monday to $312.92.</p>



<p>Trump is expected to usher in a new wave of crypto-friendly policies with ease after Republicans flipped control of the Senate Tuesday and are on the brink of maintaining their majority in the House.</p>



<h2 class="wp-block-heading" id="h-how-high-could-bitcoin-prices-by-the-end-of-this-year">How High Could Bitcoin Prices By The End Of This Year?</h2>



<p>While&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2024/11/04/heres-where-analysts-expect-bitcoin-prices-will-head-under-harris-and-trump/">estimates have varied</a>&nbsp;slightly, most analysts agreed a Trump win would lead to a boom in cryptocurrency prices. Bernstein analysts led by Gautam Chhugani said Bitcoin can rise to $80,000 to $90,000 over the next two months if the “pro-crypto candidate” Trump won. Last month, Standard Chartered analyst Geoff Kendrick wrote he expects Bitcoin to hit $125,000 by the end of the year in the event of a Trump win.</p>



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



<p>Trump has embraced the crypto industry as a counter to the Securities and Exchange Commission’s stricter regulatory approach under President Joe Biden, vowing to make the U.S. the “crypto capital of the planet.” Trump’s pro-crypto stance marks a reverse course from his previous skepticism of the industry, which&nbsp;<a href="https://www.bbc.com/news/business-57392734" rel="noreferrer noopener" target="_blank">he called</a>&nbsp;a “scam” and a disaster waiting to happen in 2021. Trump has vowed “to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,” he told an audience at a bitcoin conference in Nashville in July, and he has repeatedly promised to “fire” SEC Chairman Gary Gensler, who has taken more than 100 regulatory actions against crypto during his tenure, according to&nbsp;<a href="https://www.cnbc.com/2024/11/06/trump-claims-presidential-win-here-is-what-he-promised-the-crypto-industry-ahead-of-the-election.html" rel="noreferrer noopener" target="_blank">CNBC</a>. Trump earned endorsements from crypto leaders, including billionaires Marc Andreessen, Cameron Winklevoss and Tyler Winklevoss, while Vice President-elect, Sen. JD Vance, R-Ohio, is a longtime bitcoin investor. Trump and his campaign have also personally invested in digital currency—Trump’s joint fundraising committee began accepting donations via Coinbase in May, and he debuted his own family&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/09/16/trump-used-to-think-crypto-was-a-scam---now-hes-launching-his-own-crypto-platform-run-by-his-sons/">cryptocurrency platform</a>, World Liberty Financial, in September.</p>



<h2 class="wp-block-heading" id="h-news-peg">News Peg</h2>



<p>The crypto industry was the largest corporate donor in the 2024 election cycle, according to a report by the progressive consumer advocacy group,&nbsp;<a href="https://www.citizen.org/article/big-crypto-big-spending-2024/" rel="noreferrer noopener" target="_blank">Public Citizen</a>, which found donations from the industry accounted for 44% of all corporate money contributed as of August. The vast majority of the money was funneled through the super PAC Fairshake and two affiliated super PACs, Defend American Jobs, which backs Republicans, and the pro-Democrat Protect Progress. The groups—financed primarily by crypto companies Coinbase and Ripple—spent a combined $135 million supporting industry-friendly candidates in federal races, according to&nbsp;<a href="https://www.nytimes.com/2024/11/06/technology/crypto-industry-spending-election.html" rel="noreferrer noopener" target="_blank">The New York Times.</a>&nbsp;The investment appears to have paid off: as of Sunday, 268 pro-crypto candidates had been elected to the House and 19 in the Senate, according to the non-profit,&nbsp;<a href="https://www.standwithcrypto.org/races" rel="noreferrer noopener" target="_blank">Stand With Crypto</a>, compared to 122 newly elected House members and 12 senators it deems “anti-crypto.”</p>



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



<p>Aside from Trump, one of the biggest wins for the crypto industry came in the Ohio Senate race, where blockchain entrepreneur and GOP candidate Bernie Moreno defeated incumbent Sen. Sherrod Brown. Brown served as the chair of the Senate Banking Committee and was a vocal opponent of efforts to loosen cryptocurrencies-related regulations. Coinbase CEO and co-founder Brian Armstrong reacted to the result of the Ohio Senate race by&nbsp;<a href="https://x.com/brian_armstrong/status/1854029871040835614" rel="noreferrer noopener" target="_blank">tweeting</a>, “Being anti-crypto is simply bad politics.”</p>



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



<p><a href="https://www.forbes.com/sites/dereksaul/2024/11/04/heres-where-analysts-expect-bitcoin-prices-will-head-under-harris-and-trump/">Here’s Where Analysts Expect Bitcoin Prices Will Head Under Harris And Trump</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/saradorn/2024/09/16/trump-used-to-think-crypto-was-a-scam---now-hes-launching-his-own-crypto-platform-run-by-his-sons/">Trump Used To Think Crypto Was A &#8216;Scam&#8217; — Now He&#8217;s Launching His Own Crypto Platform Run By His Sons</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/saradorn/2024/05/21/trump-campaign-now-accepts-crypto-donations/">Trump Campaign Now Accepts Crypto Donations</a> (Forbes)<a href="https://www.forbes.com/sites/saradorn/"></a></p>


Key Speakers At The Bitcoin 2024 Conference

Bitcoin Crosses $82,000 For The First Time—Boosted By Trump’s Win

Donald Trump Wins Presidential Race—Again

Republican Presidential Nominee Donald Trump Holds Election Night Event In West Palm Beach

Election 2024 Live Updates: Trump Declares Victory—He Wins Pennsylvania And Is On Brink

US Election Results Watch Party in China

Election 2024 Live Updates: Trump Wins North Carolina—Leads In 5 Other Swing States


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



<p>Vice President Kamala Harris inched ahead of former President Donald Trump by the narrowest of margins in both polling guru Nate Silver and FiveThirtyEight’s final presidential forecasts shortly after midnight on Tuesday, although both projections showed the race for the White House remained a statistical tie on Election Day as both candidates’&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/11/04/election-2024-swing-state-polls-trump-harris-race-deadlocked-on-election-eve-as-pennsylvania-still-tied-updated/">poll numbers</a>&nbsp;in key swing states remained deadlocked.</p>



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



<p>Silver released his&nbsp;<a href="https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model" rel="noreferrer noopener" target="_blank">final forecast</a>&nbsp;after running 80,000 simulations of the race based on polling data and found that Harris had a 50.015% chance of winning compared to Trump’s 49.985%—effectively a tie—after a minor comeback of sorts by the Democrat who was down 44% to 55% at the start of November.</p>



<p>FiveThirtyEight also&nbsp;<a href="https://projects.fivethirtyeight.com/2024-election-forecast/" rel="noreferrer noopener" target="_blank">released</a>&nbsp;its final forecast for the presidential race winner, giving Harris the slimmest of edges at a roughly 50% chance of winning, compared to Trump’s 49%.</p>



<p>Silver and FiveThirtyEight’s forecasts estimate the probability of either candidate winning, and are separate from polls, which estimate how much of the vote each candidate will get—but many national and swing state polls remain essentially tied, too.</p>



<p>Harris leads Trump 49%-48% with likely voters in the latest&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/11/04/new-forbesharrisx-survey-harris-and-trump-in-near-dead-heat-1-day-before-election/">HarrisX/Forbes poll</a>, which was taken between Wednesday and Friday and has a margin of error of one point, and she’s up 50%-48% in an&nbsp;<a href="https://www.ipsos.com/en-us/harris-and-trump-are-locked-tight-race-1-day-election" rel="noreferrer noopener" target="_blank">Ipsos poll</a>&nbsp;also out Monday.</p>



<p>The vice president has a larger four-point lead (51%-47%) in both a new PBS&nbsp;<a href="https://www.pbs.org/newshour/politics/harris-has-4-point-lead-over-trump-in-final-pbs-news-npr-marist-election-poll" rel="noreferrer noopener" target="_blank">News/NPR/Marist</a>&nbsp;survey and a 50,000-person poll by the&nbsp;<a href="https://sites.tufts.edu/cooperativeelectionstudy/2024/10/28/ces-estimates-on-the-2024-presidential-election/" rel="noreferrer noopener" target="_blank">Cooperative Election Study</a>&nbsp;taken throughout the first 25 days of October.</p>



<p>Some other recent polls show a tighter race: The vice president had a 49%-47% lead in a&nbsp;<a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling" rel="noreferrer noopener" target="_blank">Morning Consult survey</a>, a 49%-46% advantage in an&nbsp;<a href="https://abcnews.go.com/Politics/election-stays-close-final-weekend-dispirited-electorate-poll/story?id=115278707" rel="noreferrer noopener" target="_blank">ABC/Ipsos</a>&nbsp;poll, a 49%-47% edge in an&nbsp;<a href="https://d3nkl3psvxxpe9.cloudfront.net/documents/econTabReport_NgtZTja.pdf#page=10" rel="noreferrer noopener" target="_blank">Economist/YouGov survey</a>&nbsp;and a 50%-49% advantage in a&nbsp;<a href="https://www.cbsnews.com/news/trump-harris-poll-gender-gap/" rel="noreferrer noopener" target="_blank">CBS/YouGov</a>&nbsp;poll last week.</p>



<p>Meanwhile,&nbsp;<a href="https://www.nbcnews.com/politics/2024-election/final-nbc-news-poll-harris-trump-race-neck-neck-significant-gender-gap-rcna178361" rel="noreferrer noopener" target="_blank">NBC News</a>&nbsp;and&nbsp;<a href="https://emersoncollegepolling.com/november-2024-national-poll-trump-and-harris-remain-locked-in-tight-race/" rel="noreferrer noopener" target="_blank">Emerson College</a>&nbsp;polls out Sunday show the two candidates tied at 49%, and a&nbsp;<a href="https://www.yahoo.com/news/final-yahoo-newsyougov-election-poll-trump-pulls-even-with-harris-at-47--but-will-enthusiasm-favor-democrats-144135193.html" rel="noreferrer noopener" target="_blank">Yahoo News/YouGov</a>&nbsp;survey also produces a 47%-47% deadlock, matching up with other recent tied polls by&nbsp;<a href="https://www.nytimes.com/2024/10/25/us/politics/poll-harris-trump-times-siena.html" rel="noreferrer noopener" target="_blank">The New York Times</a>/Siena College,&nbsp;<a href="https://emersoncollegepolling.com/october-2024-national-poll-trump-49-harris-49/" rel="noreferrer noopener" target="_blank">Emerson College</a>&nbsp;and&nbsp;<a href="https://www.cnn.com/2024/10/25/politics/cnn-poll-harris-trump/index.html" rel="noreferrer noopener" target="_blank">CNN/SSRS</a>.</p>



<p>The widely followed Times/Siena poll released late last month represented a decline in support for Harris since the newspaper’s previous poll in early October showed her with a 49%-46% lead over Trump—and the paper called the results “not encouraging” for Harris as Democrats have won the popular vote in recent elections even when they’ve lost the White House.</p>



<p>Trump is ahead 48% to 46% in a&nbsp;<a href="https://www.cnbc.com/2024/10/24/presidential-election-is-a-dead-heat-though-trump-leads-harris-big-on-economy-says-cnbc-survey.html" rel="noreferrer noopener" target="_blank">CNBC survey</a>&nbsp;of registered voters released Oct. 24 (margin of error 3.1), and he leads 47% to 45% in a&nbsp;<a href="https://www.wsj.com/politics/elections/trump-leads-harris-wsj-poll-779f8516?mod=googlenewsfeed" rel="noreferrer noopener" target="_blank">Wall Street Journal</a>&nbsp;registered voter poll out Oct. 23 (margin of error 2.5)—a shift in Trump’s favor since August, when&nbsp;<a href="https://www.wsj.com/politics/elections/trump-harris-poll-august-election-2024-e6fa024e" rel="noreferrer noopener" target="_blank">Harris led</a>&nbsp;47% to 45% in a Journal survey.</p>



<p>Harris erased Trump’s lead over Biden since announcing her candidacy on July 21, though her edge has decreased over the past two months, peaking at 3.7 points in late August, according to FiveThirtyEight’s&nbsp;<a href="https://projects.fivethirtyeight.com/polls/president-general/2024/national/" rel="noreferrer noopener" target="_blank">weighted polling average.</a></p>



<h2 class="wp-block-heading">Important Reminder: Presidential Polls Have Frequently Been Wrong</h2>



<p>And there is a lot of speculation on how they’re wrong this year—and who that may benefit. Read all about it&nbsp;<a href="https://www.forbes.com/sites/stephenpastis/2024/10/25/heres-how-the-presidential-polls-might-be-wrong/">in this story</a>.</p>



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



<p>1.2 points. That’s Harris’ average lead over Trump in FiveThirtyEight’s&nbsp;<a href="https://projects.fivethirtyeight.com/polls/president-general/2024/national/" rel="noreferrer noopener" target="_blank">polling average</a>. Meanwhile, RealClearPolitics’&nbsp;<a href="https://www.realclearpolling.com/polls/president/general/2024/trump-vs-harris" rel="noreferrer noopener" target="_blank">polling average</a>&nbsp;shows Harris up by 0.1, and Nate Silver has Harris up one point in his&nbsp;<a href="https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model" rel="noreferrer noopener" target="_blank">Silver Bulletin forecast</a>.</p>


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