Billionaires

A stock dip comes after Reuters reported Meta estimated a chunk of revenue would come from running fraudulent ads.

Nick Mowbray is working from home, a 12-bedroom mansion in Coatesville, New Zealand. It’s the former abode of cyber-renegade Kim Dotcom, and it’s here that Dotcom was arrested by heavily armed police in 2012.

Big funds, advisory firms and the Pope oppose the exorbitant plan. Approval means shareholders think the polarizing, distracted CEO can top past successes with an AI-powered strategy.

More than 26 billionaires gave to campaigns to defeat New York City Mayor-elect Zohran Mamdani.

Threads surpassed X in daily active users on mobile devices worldwide for the first time by a razor-thin margin late September, though now Threads has since extended its lead by millions of users.

Jeff Bezos’ stake in Amazon is up almost $30 billion since Friday.

A federal lawsuit filed Sunday in California federal court accuses Spotify of failing to prevent streaming fraud, including by allowing “billions” of bot-generated streams that allegedly boosted rapper Drake’s streaming numbers, though he is not named as a defendant.

Strong ad sales have propelled Huffman into the billionaire ranks. Now he’s charting a new course, aiming to become invaluable to AI companies.

With a new $10 billion valuation for their AI recruiting startup Mercor, the founders are the youngest tech billionaires ever.

Earnings fell significantly below Wall Street’s expectations, though Meta said it would have exceeded projections before a hefty tax charge.