Markets support as Trump triggers trade war among allies

On February 3, 2025By Littum

America’s top philanthropist is richer than ever, but their give is not necessarily to keep up with their increasing wealth.

The 25 largest donors are worth a total $ 1.6 trillion In 2025, an increase of 18.5%, according to Forbes’ Recently released 2025 list of America’s most generous philanthropists. But their lifetime Charity yield only increased by 14%.

Of course, some are more generous than others. Warren Buffett tops the list for the fifth year in a row with regard to the total amount given in his lifetime to $ 62 billion. And in six years, Mackenzie Scott has made more gifts at a faster pace than everyone on the list except Buffett, Bill Gates and Melinda French Gates.

First up

President Donald Trump speaks with domestic secretary Doug Burgum and his wife Kathryn at the Oval Office of the White House on January 31, 2025 in Washington, DC

Jabin Botsford/The Washington Post via Getty Images

The US stock futures fell early on Monday as the global markets staged to the outcome of President Donald Trump’s decision to impose 25% tariff rates On most imports from Canada and Mexico as well as 10% on Chinese imports. The order comes into effect on Tuesday, and Trump recognized that consumers will feel “some pain”, even if it is unclear at this time if the president intends to negotiate. Canada and Mexico charged both retaliatory guares on US imports, while China said it would file a lawsuit to the World Trade Organization and take “countermeasures” in response to the move. MORE: Trump’s Customs made a partial exception for Canadian energywhich needs to be taxed by 10%, though it could still bring a huge hit to oil dealers. With manufacturers that, in turn, are likely to reduce refined fuel production, Americans should expect to see higher gas prices.

Elon Musk early Monday said President Donald Trump “agreed that USAID should be shut down, hours after the president attacked Humanitarian Aid Agency’s leadership and called them” a bunch of radical madmen. “Operatives from the Department of Government Efficiency, which Musk is leading, was allegedly stopped by Senior USAID -Secresness Officers Saturday While trying to access materials at AID Agency’s OfficeIncluding classified information they did not have approval for.

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Business + Finance

The stock market closed a Virvel Week Friday, turn gains from earlier in the day When the White House confirmed President Donald Trump intended to adopt customs duties in Canadian, Mexican and Chinese imports on Saturday. Despite Nvidia’s record-breaking losses in response to Deepseeks cheaper AI model, it was still a historically strong January, with Dow Jones industrial average up almost 5% and the S&P 500 almost 3%.

Timothy Massad, the former chairman of the US Commodity Futures Trading Commission, detailed the lack of a regulatory framework for crypto in an interview with Forbes, And said he doesn’t see the need for a strategic cryptor reserve. And he thinks it was “Surely wrong” for the Trump organization To issue Memecoins Friday before the president’s inauguration.

Wealth + entrepreneurship

$ 700 million Vaneck International International Investors Gold Fund has delivered 6.3% annually in the race. But Gold is considered a hedge toward inflationAnd sometimes it works: Gold rose 27% by 2024.

Tech + innovation

A wave of venture capital partners is Leaving heavyweight companies to join new funds Or start their own. “The golden handcuffs break,” told a leader of a great endowment Forbes. “Financial loyalty at VC companies have never been weaker.”

Meta is reportedly considering a reincorporation From Delaware to a new StateLess than a year after SpaceX and Tesla CEO Elon Musk moved its companies’ incorporation from Delaware to Texas. Over 60% of the Fortune 500 companies were incorporated in Delaware from 2023, according to CNBC, and it is unclear why tech giant Muller Muller is a step from the long-established tax paradise.

Sport + entertainment

Jalen Hurts’ Philadelphia Eagles is worth $ 6.6 billion, an increase of 2,550%, since Forbes began to appreciate the NFL team in 1998.

Brandon Sloter/Getty Images

Despite Kansas City Chiefs’ performance on the field they are Long -term economic sub -dogs Compared to Philadelphia Eagles. On Forbes’ The latest list of NFL’s most valuable team ranked Kansas City 24 to $ 4.85 billion – 16 seats and $ 1.75 billion behind Philadelphia.

Fejding with Drake turned Kendrick Lamar into hip-hop’s hottest artist in 2024, and now he is preparing for the biggest concert of his life: Main line on the break At the Super Bowl Lix on Sunday. But as has been custom for headliners, Lamar will not be paid for the performance, although the exchange is worth when you are considering the boost that former artists have received.

Daily Cover History

Zyn, but with weed: bag -dille hits the cannabis industry

Cannadips Cofounder Case Mandel says that nicotine bags have paved the way for THC-founded bags to be the next big trend in cannabis.

Quinn Murdy

Topline As nicotine bags have become an industry of several trillion dollars, cannabis companies like canna tips come in on the craze.

Cannadips based in Arcata, a city in California’s emerald triangle, do Marijuana-derived THC bags Dispenses in California and Arkansas are sold. With 15 bags for a tin, canna tips like zyn come in several flavors, including mint, tangy citrus and orange creams.

“When we launched, it was for footballers, baseball players, ban, country guys, nascar -guys -you know it was a redneck -vice,” says co -founder Mandel. “Now bags are crazy.”

Cannadips Generated more than $ 7 million in revenue Last year and hopes it can double this number this year when expanded to Missouri. Cannadips also have a CBD and Hamp-Derived Cannabinoids sold online thanks to the farm bill and at Sheetz tank stations in Pennsylvania and Ohio. Bolt Runners, the parent company, also produces other types of bags, including those added to caffeine to overdeckys, launched by Max Vanderaarde, the social media Zynfluencer, better known as cheddy. Bolt runners also produce their own nicotine bag called ammunition and make nootropics-filled bags for companies like Aura and Rebel.

Its cofounders hope to repeat Zyn’s massive success, which Dominates the multibillion-dollar nicotine bag industry With almost 70% market share.

Why it matters “Nicotine bags have taken the country by storm and have become both one Political and cultural touch point”Says Forbes Personnel author Will Yakowicz. “Cannabis-infunded bags are now taking advantage of what Zyn and others in the nicotine area have made a multi-billion market.”

MORE How Zyn conquered America

Facts + comments

Inflation has remained stubbornly over the decision makers’ 2% target, according to data released Friday. The Data strengthens the case for Federal Reserve’s The latest decision to stop its rate -cuts:

2.8%: The increase in the central personal consumption expenses index year over years in December (Fed’s preferred inflation metrics)

46: The number of consecutive months annual core -pce -inflation has been over 2.5%

2027: When fed decision makers expect inflation to reach 2%, according to median forecasts last month

Strategy + success

Most people experience at one point in a time in their career is the key transform your confidence into a superpower. Instead of letting the feeling hang, it can restore it as a question: “What would it take for me to feel ready for this?” Create a daily habit of challenging your fears, and instead of worrying about the worst case, focus on what would happen if you succeeded.

Video

QUIZ

The 2025 Grammy Awards ceremony was held on Sunday night, and a cornerstone of the recording industry received a prize that had noticed them throughout their career. Who was that?

A. Miley Cyrus

B. Kendrick Lamar

C. Lady Gaga

D. Beyoncé

Check your answer.

Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.