Plus: The 50 Richest Self-Made Women On Earth |
Good morning,
Move over, Tesla. There’s a new player taking aim at Waymo’s robotaxi dominance: Amazon.Amazon’s Zoox plans to launch its commercial ride service in Las Vegas later this year, with cities like Atlanta, San Francisco and Austin to follow. And its custom-designed car stands out from competitors: It has no steering wheel, pedals or external mirrors, but it does include sliding doors similar to those of subway trains, and can operate bidirectionally. Even though Zoox’s vehicle costs more than a typical electric car, its key to profitability is a long service life and the ability to provide dozens of rides a day, according to CEO Aicha Evans. As it scales up production, Zoox already appears to be closer to Waymo than Tesla, which faces criticism over safety.
Let’s get into the headlines, |
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The head of the UN’s nuclear watchdog early Monday said the U.S. bombing of three Iranian nuclear facilities Sunday likely caused “very significant damage” to Iran’s underground operations at Fordow. While Trump Administration officials downplayed any interest in having “boots on the ground” or a “regime change” in Iran, President Donald Trump himself raised the idea of a regime change on Truth Social hours later. MORE: Democrats and some Republicans criticized the operation, arguing such a military action without Congress’ approval was unconstitutional, while international leaders have widely called for deescalation, including criticism from Russian President Vladimir Putin. At the time of writing early Monday, Israel had launched a fresh wave of strikes on Tehran and other targeted sites. |
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 | FROM LEFT: MELANIE PERKINS/CANVA; OPRAH WINFREY/CHRIS PIZZELLO/AP; RAFAELA DIAMONT-APONTE/ALAIN DENANTES/GAMMA RAPHO/GETTY IMAGES |
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It’s never been a better time for women entrepreneurs—at least by the numbers. There are now an estimated 658 million female founders and company owners worldwide, compared to 772 million men, per the Global Entrepreneurship Monitor. Nearly two-thirds are early stage entrepreneurs, compared to less than half of their male counterparts. As a nod to the triumphs and challenges for this cohort, for the first time ever, Forbes has compiled a standalone global ranking of the world’s 50 richest self-made women. These ceiling breakers—who have made their fortunes in everything from collagen to coal—hail from 13 nations and four continents (there are currently none from Africa or South America). Altogether they are worth $276 billion, or $5.5 billion on average. That’s $10 billion less than what the top 50 were worth at their peak in 2021, but $158 billion higher than in 2017—the first year Forbes tracked that many self-made women. The richest self-made woman in the world is Swiss shipping magnate Rafaela Aponte-Diamant, with a net worth of $38.8 billion. At a distant No. 2 is America’s Diane Hendricks, (estimated net worth: $22.3 billion) cofounder of ABC Supply, one of the biggest distributors of roofing, siding and more. She is one of 18 Americans in the top 50, including such high-profile women as Oprah Winfrey and Sheryl Sandberg. Admission to this elite, 50-member club is $2.1 billion, meaning high-profile executives and entrepreneurs like SpaceX’s Gwynne Shotwell, Spanx’s Sara Blakely, and celebrities like Kim Kardashian and Taylor Swift simply aren’t rich enough—for now. |
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While more women are moving into entrepreneurship than ever before, there is still a vast gap between men and women in terms of their level of success, at least as measured by their personal net worths. The world’s 50 richest self-made men are worth $3.8 trillion, 14 times as much as the 50 wealthiest females. Still, there is plenty of reason for optimism—starting with the fact that self-made women now make up 3.5% of the entire billionaire set, a small percentage but about 50% higher than their share back in 2017. |
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WEALTH + ENTREPRENEURSHIP |
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Charles Ergen was once the country’s 24th richest person as millions of Americans got their TV from his Dish Network, but the streaming wars sent his wealth crashing down. Now Ergen, a former professional poker player, is betting he can reverse his fortunes by merging his two firms, EchoStar and Dish, and transforming the business from pay TV into a 5G wireless network operator. Cancer diagnostics company Caris Life Sciences debuted on the Nasdaq last week, minting its founder David Dean Halbert a new billionaire, with an estimated net worth of at least $3.3 billion. The company, which uses gene sequencing, AI and machine learning to detect and monitor disease, is one of the largest life sciences companies to go public in a tough market this year. |
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Web traffic from Google search results is drying up, thanks to AI-powered results that often answer a user’s question without them needing to visit another website. But this “Game of Thrones”-level power shift in the online content space has created an opening for a wave of startups like Profound, which aims to help customers like U.S. Bank and Docusign appear in AI-generated responses. As Scale AI’s bombshell deal with Meta continues to reverberate across the industry, a familiar giant is stepping into the data-labeling void: Uber. The ride-hailing behemoth told Forbes last week that its flexible, on-demand work model “extends itself really well to this business of digital tasks,” and it plans to differentiate itself from rivals by way of automation. |
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A group led by homebuilding billionaire Patrick Zalupski has entered exclusive negotiations to purchase MLB’s Tampa Bay Rays, the team announced last week, in a deal that reportedly values the franchise at $1.7 billion. The 44-year-old CEO of Dream Finders Homes, worth an estimated $1.3 billion, seeks to take over a franchise that faces an uncertain future in the Tampa Bay area. The team’s current principal owner, former Goldman Sachs partner Stuart Sternberg, helped buy the Rays in 2004 for a reported $200 million. |
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Millennials and Gen Z may have kicked off the current skincare trend, but thanks to social media, Gen Alpha’s teens and preteens are increasingly interested in the same face serums and multistep routines their parents follow. Enter Evereden, a family-friendly skin and haircare brand that caters to babies and kids. Cofounded by Under 30 alum Kimberley Ho in 2018, the company now brings in $100 million in annual sales. |
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President Donald Trump’s crackdown on foreign student enrollment is putting a number of for-profit colleges at risk. Forbes identified 16 private universities that are particularly vulnerable, as they all rely on foreign students to fill at least a third of their enrollment, while counting on tuition and fees to make up at least half of their operating revenues. The schools—including St. Francis College in Brooklyn and the Illinois Institute of Technology—were already financially weak to begin with, scoring poorly on Forbes’ most recent college financial health ranking. |
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15% | The minority stake the Buss family plans to maintain, according to ESPN | |
| $12 billion | The amount the sale could later value the team at, per The Athletic | |
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