• Why this beaten down ASX 200 stock can jump 24%

    A young man wearing a black and white striped t-shirt looks surprised.

    The James Hardie Industries plc (ASX: JHX) share price was sold off on Tuesday.

    The building materials company’s shares ended the day a sizeable 15% lower at $46.67.

    Investors were hitting the sell button in response to the release of the ASX 200 stock’s fourth quarter and full year update.

    James Hardie reported record fourth quarter sales of US$1,004.9 million and record full year sales of US$3,936.3 million. However, despite this strong top line performance, its earnings fell short of expectations for the fourth quarter.

    And putting further pressure on the ASX 200 stock was its guidance for FY 2025, which was well below consensus estimates.

    Broker reaction

    Analysts at Goldman Sachs have been looking over the result. They note that James Hardie’s fourth quarter profit and guidance for FY 2025 disappointed. The broker said:

    4Q24 result slightly below GSe. 4Q24 underlying NPAT of US$174m was 2% below GSe/Visible Alpha consensus estimates of US$178m/177m. Within this, EBIT of US$233m was 2% below GSe with sales 1% above GSe. JHX had previously guided to group NPAT of US$165-185m.

    FY25 guidance disappoints. JHX issued group adjusted net income guidance US$630-700m vs prior GSe at US$761m and consensus at $762m (i.e. 13% lower at the midpoint).

    Is this ASX 200 stock good value after the selloff?

    Despite the disappointment, Goldman remains positive on James Hardie and believes yesterday’s selloff has created a buying opportunity for investors.

    In response to the update, the broker has reiterated its buy rating on the company’s shares with a reduced price target of $57.85 (from $61.65).

    Based on its current share price of $46.67, this implies potential upside of 24% for investors over the next 12 months.

    To put that into context, a $10,000 investment would grow to become worth $12,400 if Goldman is on the money with its recommendation.

    Why is Goldman staying bullish?

    Goldman believes that the market is undervaluing the ASX 200 stock even after lowering its earnings estimates for the near term. It explains:

    As a result of our earnings changes (partially offset by updated reference multiples), our DCF & EV/EBIT based TP declines 6% to A$57.85. Notwithstanding the forecast revisions we believe that the share price is capitalizing earnings levels that are below both FY25E GSe and (more meaningfully) FY26E levels.

    We see upside from cyclical improvement and strategic execution against higher value product mix targets, which has scope to substantially improve group profitability.

    The post Why this beaten down ASX 200 stock can jump 24% appeared first on The Motley Fool Australia.

    Should you invest $1,000 in James Hardie Industries Plc right now?

    Before you buy James Hardie Industries Plc shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and James Hardie Industries Plc wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • The best noise-canceling headphones of 2024

    When you buy through our links, Business Insider may earn an affiliate commission. Learn more

    A red gradient image with three different wireless headphones.
    The best noise-canceling headphones let you listen to music without distractions.

    When listening to music, there's nothing worse than annoying background noise drowning out your favorite songs. That's why noise-canceling headphones have become so popular. Using built-in microphones and audio processing, the best noise-canceling headphones block ambient sounds so you can focus on your playlist without pesky distractions.

    We put several top models through our testing process to pick the six best noise-canceling headphones you can buy. The Bose QuietComfort Ultra over-ear headphones are a real standout and deliver the most impressive active noise cancellation (ANC) we've come across. For budget buyers, we recommend the affordable Anker Soundcore Life Q30, which offer ANC that's way better than we expected for such a low price.   

    Below are all six of our recommendations for the best noise-canceling headphones. Each pick has been selected with different needs and budgets in mind, but they all provide a great listening experience.

    Our top picks for the best noise-canceling headphones

    Best overall: Bose QuietComfort Ultra Over-Ear – See at Amazon

    Best on a budget: Anker Soundcore Life Q30 – See at Amazon

    Best sounding: Sennheiser Momentum 4 Wireless – See at Amazon

    Best features: Sony WH-1000XM5 – See at Amazon

    Best for gaming: SteelSeries Arctis Nova Pro Wireless – See at Amazon

    Best in-ear: Bose QuietComfort Ultra Earbuds – See at Amazon


    Best overall

    Bose has the upper hand in the race for the best noise-canceling headphones. The brand's over-ear QuietComfort Ultra provide class-leading audio suppression to go along with great features, a comfortable design, and the best sound we've heard from a pair of Bose headphones. 

    The Ultra ooze luxury from the moment you pull them from their zippered case. The headphones use sleek and durable materials like dimpled aluminum along the arms and band and plush padding coated in soft protein leather. The ear cups are foldable and fully collapsible, making the headphones easy to pack for travel. Battery life is solid at 24 hours, though we would have liked them to last a bit longer, given the Ultra's price point.

    As for performance, the Ultra's noise canceling is supremely powerful, edging out everything we've tested. It's fantastic at silencing low-end sounds like fans or street noise but also effective for higher frequencies, wholly eliminating sounds like keystrokes and muffling voice chatter, even without music playing. And when you do want to let in outside noise, the Ultra's transparency mode is among the most natural sounding we've heard. 

    A pair of white Bose QuietComfort Ultra headphones resting on their carrying case on a table.
    Bose's QuietComfort Ultra headphones provide the best noise-canceling performance we've tested.

    The Ultra's sound quality is also a step up for the series. Music comes through with deft precision, detail, and balance across genres, especially after bumping the bass down a notch or two with the Bose Music app's three-band EQ. As with other Bose headphones, instrumentals can sometimes sound slightly sharp and overly processed, but it's more toned down here for an overall pleasing presentation. Calls come through with crystal clarity as well.

    The headphones also boast Bose's new spatial audio feature, which includes head tracking that can move the soundstage with you independent of your source device. We had mixed results with this, as the feature can sometimes create an echo effect, especially with video content. The headphones are otherwise well-appointed, with features like Multipoint Bluetooth to connect two devices simultaneously, customizable noise-canceling modes, and a wind buffering setting.

    As for controls, the Ultra's mix of hard keys and a volume slider touchpad works well. We would have liked to see a dedicated key for noise canceling and transparency mode, but that's a minor complaint. Even with a price that goes beyond any pair of QuietComfort headphones before them, the Ultra are a worthy investment, offering a premium experience and noise-canceling that can't be beaten.

    Best on a budget

    Thanks to the latest advancements in noise-canceling technology, you don't have to spend a ton of money to get some decent peace and quiet. Anker's Soundcore Life Q30 are a great example, and at well under $100, they're a relatively easy investment. 

    The Q30's noise canceling ranks among the best for their price point, doing an especially good job in the lower registers. It's certainly not as effective as the pricier models on our list, especially in the upper frequencies, but the Q30's ear cups also offer solid passive noise isolation, which helps to defray some of the ambient annoyances in your life.

    A pair of Soundcore Life Q30 headphones resting on their case.
    The budget-friendly Soundcore Life Q30 deliver ANC that's way better than expected.

    Anker's Soundcore headphones consistently perform well in terms of audio performance, and the Q30s hold their own in this department, especially after a few tweaks to their hefty bass in the Soundcore mobile app for Android or iOS. There, you can also customize other settings, swap between three noise-canceling modes, and engage the available sleep mode to activate ambient sounds as you drift off on your commute. 

    The Q30s fit comfortably thanks to their solid padding and collapse for travel. Convenience features like Multipoint Bluetooth pairing recall fancier models that cost double or triple the price, while their massive battery life is among the best you'll find.

    However, there are some drawbacks. The earcups use cheaper plastic and are more prone to scratches than pricier models. We also ran into misfires when using the tap command on the right ear cup to toggle between noise canceling and transparency modes. But these small hiccups are far from deal breakers.  

    If you're after a solid pair of noise-canceling headphones but simply can't stomach the high prices of other top models, Anker's Soundcore Q30 are a very enticing option.

    Best sounding

    Sennheiser's Momentum 4 Wireless headphones don't have the best or even the second-best noise-canceling performance on our list. That's OK, though, because once you hear them, you may not care. If you're an audiophile, the great sound quality you get here could be a more than acceptable tradeoff. 

    It took Sennheiser three years to update its storied Momentum headphones, doing away with the retro styling that had defined the series up to now. But it was worth the wait and the redesign. The Momentum 4s deliver audio performance that rises above everything we've heard in their class, offering effortless presence, detail, and separation that lets you dig deep into each instrument's timbres and textures with remarkable clarity. 

    The Momentum 4s are no slouches in the features department, either, with battery life that's double what you'll get from options like Sony's WF-1000XM5. You'll also get features like Multipoint pairing, the ability to adjust noise canceling and transparency modes based on your environment, a three-band EQ, and great wind buffering that also aids in call quality.

    As mentioned, the Momentum 4s' noise canceling is good but not great for headphones at this price point. They do a swell job with lower frequencies but let higher register noises like voices slip through more easily than the other top noise-canceling headphones. Add a bit of music, and that shouldn't be much of an issue in most scenarios, but it's worth considering before you pull the trigger.

    Although the headphones are quite comfortable, they're also heavier than some competitors, and they don't fold up completely, making them slightly harder to pack. That said, if sound is your compass, the Momentum 4s are well worth considering, offering a lush sonic experience.

    Best features

    The Sony WH-1000XM5 M5 (as in Mark 5) may not have the catchiest name, but they make up for it with a formidable mix of brilliant performance and a truckload of great features.

    Sony wrote the book on modern headphone design with its WH-1000X series, putting you in the driver's seat for a dizzying array of options. It all starts with the brand's powerful Headphones app, letting you control your noise cancellation in multiple ways, including an option based on your environment. You can silence audio with your voice or let in the outside world with a simple hand gesture on the right ear cup. Alexa is available for smart control, and customization of Sony's 360 Reality Audio lets you unlock spatial sound with supported content.

    The black Sony WH-1000XM5 wireless noise-cancelling headphones.
    The WH-1000XM5 headphones are packed with features and are a great alternative to our top pick, the Bose QuietComfort Ultra, if you prefer the Sony brand.

    Features aside, the XM5s are as polished as you'd expect a flagship pair of headphones from a market leader to be. Their touch controls are intuitive and responsive, and their noise canceling is incredibly effective across registers. Sound quality is sweet, smooth, and superbly detailed, to the point that you'll likely hear things you've missed in multiple previous listens. Their streamlined design and memory foam padding make them comfortable for hours (though Bose's Ultras are even comfier).

    The only noteworthy issue we take with Sony's latest design is that, unlike the Bose Ultra and Sony's cheaper WH-1000XM4, the M5s don't collapse for travel, making them harder to pack.

    Ultimately, we think the Bose QuietComfort Ultra headphones edge out the XM5s if you're specifically looking for the most effective noise-canceling performance on the market. But, when factoring in other features and general value, the XM5s are our top pick for the best over-ear headphones overall. 

    Read our Sony WH-1000XM5 headphones review.

    Best for gaming

    The SteelSeries Arctis Nova Pro Wireless is a noise-canceling headset built for gaming. Unlike our other picks, it has a retractable boom microphone designed for voice chat, so you can better communicate with other players during online matches. 

    And in addition to Bluetooth, it supports a wireless 2.4GHz connection. This feature isn't something you'll find on typical noise-canceling headphones designed for music, but it's an essential option for a gaming headset since 2.4GHz provides less audio lag. The Arctis Nova Pro can even support simultaneous 2.4GHz and Bluetooth connections, so you can pair it with a phone and a compatible gaming console at the same time.

    The headset comes with a cool wireless transmitter that also acts as a control hub and a battery charger. An OLED display is built into the hub, so you can monitor your settings and adjust things like volume, EQ, and noise cancellation. The headset includes two batteries that can each last 20 hours, and you can charge the spare battery in the control hub when not in use so you always have one ready to go. 

    A SteelSeries Arctis Nova Pro Wireless gaming headset on a wood surface resting against the wall.
    The Arctis Nova Pro Wireless is a gaming headset with ANC support and cross-platform compatibility.

    Sound quality is excellent for gaming, but like many headsets of this type, its audio profile favors a bass-heavy sound that gives extra oomph to deep effects like explosions in action games. If you want headphones with music playback in mind, we recommend opting for one of our other picks. 

    The active noise-canceling feature also works well and is a nice inclusion for gaming since it can minimize background sounds so you can focus on your on-screen missions and multiplayer chats. However, the ANC here is more suited for dealing with moderate at-home noises and isn't as good at blocking out troublesome outside distractions. 

    Various spatial audio options are fully implemented with a DTS:X license on Windows, support for the PS5's Tempest 3D, and Windows Sonic compatibility on PC and Xbox. You also get access to SteelSeries' audio software suite, Sonar, which allows you to customize the headset's EQ and surround sound functions.

    The SteelSeries Arctis Nova Pro is our pick for the best gaming headset. It's an excellent pair of headphones for gamers who want wireless support and ANC. SteelSeries sells a few different versions of this headset, but the edition we recommend here has full cross-platform wireless support for PC, Xbox, PlayStation, and Nintendo Switch.

    Read our SteelSeries Arctis Nova Pro Wireless gaming headset review.

    Best in-ear

    Though our previous pick in this category, the Sony WF-1000XM5, remain our recommendation for the best wireless earbuds overall, Bose has bested them in noise-canceling performance. Like their over-ear siblings, this in-ear version of the QuietComfort Ultra deliver best-in-class ANC. We've tested tons of noise-canceling earbuds, but none can match this model's ability to block out ambient distractions. 

    In addition, the QC Ultra earbuds offer a natural-sounding transparency mode when you want to hear your surroundings. They can also reduce sudden loud noises to help keep your ears safe. General audio quality is impressive, too, with a dynamic and clear sound profile. And you have plenty of freedom to adjust the sound to your liking with a three-band EQ setting in Bose's mobile app.

    A pair of Bose Quietcomfort earbuds pictured in front of their case on a yellow table.
    Bose also sells an in-ear version of its QuietComfort Ultra headphones.

    You'll also get many of the same features that you'll find on Bose's over-ear version of these headphones, including spatial audio support with head tracking. Again, we prefer to listen to music without this mode engaged, but it's nice to have this option included for those who enjoy it. However, unlike the over-ear QuietComfort Ultra headphones, these earbuds do not support multi-point pairing. 

    On the design front, the QC Ultra feature a more compact build than Bose's previous-generation QuietComfort earbuds. A volume slider is positioned on the earbud's stem for easy control, and they fit comfortably in ear with three different-sized ear tips and stability bands included. On the downside, the included charging case is a bit large, and it doesn't have wireless support unless you add on a $50 case cover

    Still, despite any minor shortcomings, the Bose QuietComfort Ultra earbuds easily cement themselves as the best in-ear noise-canceling headphones you can buy.

    How we test noise-canceling headphones

    The silver Sony WH-1000XM5 wireless noise-cancelling headphones earcups

    When testing contenders for the best noise-canceling headphones, we use each model as we would in our daily lives to understand how they'll perform for a typical listener. That includes evaluating features like ease of setup with different source devices, comfort, battery life, and general usability.

    We assess sound quality by listening to music across multiple genres from the best music streaming services as well as in high resolution. We also play videos and listen to them with each model to test features like spatial audio and head tracking with stereo and Dolby Atmos content.

    To evaluate noise canceling and transparency modes, we conduct real-world testing in natural environments and, whenever possible, in situations like plane flights or train commutes. We also incorporate a sound-treated room and professional stereo monitors to reproduce sounds like airplane noise, voices, and other effects. Battery testing includes putting the headphones on a stopwatch at medium volume to ensure they live up to their manufacturer's claims or come close.

    Noise-canceling headphones FAQs

    The Sony WH-1000XM5 wireless noise-cancelling headphones in black.

    What is noise canceling?

    Noise cancellation, also known as Active Noise Cancellation (ANC) or Adaptive Noise Cancellation, is a technology designed to suppress sounds in your immediate environment. Noise-canceling headphones are outfitted with tiny microphones which pick up ambient sounds. They then use onboard circuitry to analyze those sounds in real time, flipping the polarity of the frequencies (essentially reversing their waveforms) to "cancel" them. 

    Noise cancellation is an imperfect science and, as of yet, it's not able to block out all the sounds in a given environment. That said, with each iteration, the best noise-canceling headphones increase how much sound they can block, especially at higher frequencies, which are generally the hardest to cancel. The better the noise cancellation, the more frequencies are blocked, and the more noise your headphones can reduce.

    Which brands offer the best noise-canceling performance?

    In the consumer headphones market, Bose and Sony are known for delivering top-notch noise-canceling performance. Though high-end models from both brands are nearly neck-and-neck, we give a slight edge to Bose.

    Other solid brands include Soundcore, Sennheiser, JBL, Master and Dynamic, and Bowers and Wilkins. And though its models don't quite make this guide, Apple is also a notable option with its AirPods Pro earbuds and AirPods Max over-ear headphones. Check out our guide to the best Apple AirPods to learn more about the company's headphones.

    Are over-ear headphones better than earbuds for noise canceling?

    While the gap between over-ear headphones and earbuds was once more prominent, today's top noise-canceling earbuds are close to or on par with the best over-ear headphones with ANC. Both types offer good passive noise isolation, and both use a mix of advanced hardware and software, including multiple microphones. While it varies case by case, you can now get very effective noise canceling in either over-ear headphones or earbuds.

    What is transparency mode?

    Transparency mode, also called ambient audio (or sometimes hear-thru), is essentially the opposite of noise canceling. Using the same exterior microphones, instead of canceling the sound around you, transparency mode pipes ambient sound into your headphones in an effort to keep you aware of your surroundings. Transparency modes on most headphones can be easily toggled on and off, so you can go from listening to music with ANC to letting outside sound in. This is not only a great safety feature, but it can also be helpful for situations like flights or other forms of mass transit where you need to communicate quickly.

    What is Bluetooth wireless connectivity?

    Bluetooth is a wireless technology that allows for an exchange of data, for our purposes in the form of audio, across short distances. Most Bluetooth devices offer a range of around 33 feet, though some, such as Class 1 Bluetooth devices, can travel 100 feet or more. Improvements in Bluetooth over time have allowed for increased bandwidth and, among other things, higher sound quality that's more reliable. In general, having the latest Bluetooth version can mean speed, efficiency, and reliability improvements.

    Best overall
    A pair of white Bose QuietComfort Ultra headphones resting on their carrying case on a table.
    Bose's QuietComfort Ultra headphones provide the best noise-cancelling performance we've tested.

    Bose has the current upper hand in the ongoing race for the best noise-cancelling headphones. The brand's QuietComfort Ultra provide class-leading audio suppression to go along with great features, a comfortable design, and the best sound we've heard from a pair of Bose headphones. 

    The Ultra ooze luxury from the moment you pull them from their zippered case. The headphones use sleek and durable materials like dimpled aluminum along the arms and band and plush padding coated in soft protein leather. The ear cups are foldable and fully collapsible, making the headphones easy to pack for travel. Battery life is solid at 24 hours, though we would have liked to see a bit more, given the Ultra's price point.

    As for performance, the Ultra's noise cancelling is supremely powerful, edging out everything we've tested. It's fantastic at silencing low-end sounds like fans or street noise but also effective for higher frequencies, wholly eliminating sounds like keystrokes and muffling voice chatter, even without music playing. And when you do want to let in outside noise, the Ultra's Transparency mode is among the most natural sounding we've heard. 

    The Ultra's sound quality is also a step up for the series. Music comes through with deft precision, detail, and balance across genres, especially after bumping down the bass a notch or two with the Bose Music app's three-band EQ. As with other Bose headphones, instrumentals can sometimes sound slightly sharp and overly processed, but it's toned down here for an overall pleasing presentation. Calls come through with crystal clarity as well.

    The headphones also boast Bose's new spatial audio feature, which includes head tracking that can move the soundstage with you independent of your source device. We had mixed results with this, as the feature can sometimes create an echo effect, especially with video content. The headphones are otherwise well-appointed, with features like Multipoint Bluetooth to connect two devices simultaneously, customizable noise-cancelling modes, and a wind buffering setting.

    As for controls, the Ultra's mix of hard keys and a volume slider touchpad work well. We would have liked to see a dedicated key for noise cancelling and transparency mode, but that's a minor complaint. Even with a price that goes beyond any pair of QuietComfort headphones before them, the Ultra are a worthy investment, offering a premium experience and noise cancelling that can't be beaten.

    Best budget
    A pair of Anker Soundcore Life Q30 headphones on a table with a phone, watch, passport, and wallet.
    The Soundcore Q30 are the best noise-cancelling headphones you can buy on a budget.

    Thanks to the latest advancements in noise-cancelling technology, you don't have to spend a ton of money to get some decent peace and quiet. Anker's Soundcore Life Q30 are a great example, and at well under $100, they're a relatively easy investment. 

    The Q30's noise cancelling ranks among the best for their price point, doing an especially good job in the lower registers. It's certainly not as effective as the pricier models on our list, especially in the upper frequencies, but the Q30's ear cups also offer solid passive noise isolation, which helps to defray some of the ambient annoyances in your life.

    Anker's Soundcore headphones consistently punch above their weight when it comes to audio performance, and the Q30s hold their own in this department, especially after a few tweaks to their hefty bass in the Soundcore mobile app for Android or iOS. There you can also customize other settings, swap between three noise-cancelling modes, and engage the available sleep mode to activate ambient sounds as you drift off on your commute. 

    The Q30s fit comfortably thanks to their solid padding and collapse for travel. Convenience features like Multipoint Bluetooth pairing and the ability to activate transparency mode by holding your hand on the right ear cup recall fancier models that cost double or triple the price, while their massive battery life is among the best you'll find.

    If you're after a solid pair of noise-cancelling headphones but simply can't stomach the high prices of other top models, Anker's Soundcore Q30 are a very enticing option.

    Best sounding
    A pair of Sennheiser Momentum 4 headphones in their carrying case on a desk.
    Sennheiser's Momentum 4 headphones are the pair to get if you favor sound quality over noise-cancelling performance.

    Sennheiser's Momentum 4 Wireless headphones don't have the best or even the second-best noise-cancelling performance on our list. That's OK, though, because once you hear them, you may not care. If you're an audiophile, the great sound quality you get here could be a more than acceptable tradeoff. 

    It took Sennheiser three years to update its storied Momentum headphones, doing away with the retro styling that had defined the series up to now. But it was worth the wait and the redesign. The Momentum 4s deliver audio performance that rises above everything we've heard in their class, offering effortless presence, detail, and separation that lets you dig deep into each instrument's timbres and textures with remarkable clarity. 

    The Momentum 4s are no slouches in the features department, either, starting with battery life that's double what you'll get from options like Sony's WF-1000XM5. You'll also get features like Multipoint pairing, the ability to adjust noise cancelling and transparency mode based on your environment, a three-band EQ, and great wind buffering that also aids in call quality.

    As mentioned, the Momentum 4s' noise cancelling is good-not-great for headphones at their price point. They do a swell job with lower frequencies but let higher register noises like voices slip through more easily than the very best noise-cancelling headphones. Add a bit of music, and that shouldn't be much of an issue in most scenarios, but it's worth considering before you pull the trigger.

    Although the headphones are quite comfortable, they're also heavier than some competitors, and they don't fold up completely, making them slightly harder to pack. That said, if sound is your compass, the Momentum 4s are well worth considering, offering a lush sonic experience.

    Best features
    The black Sony WH-1000XM5 wireless noise-cancelling headphones.
    The WH-1000XM5 headphones are packed with features and are a great alternative to our top pick, the Bose QuietComfort Ultra, if you prefer the Sony brand.

    Sitting nearly even with Bose's QuietComfort Ultra when it comes to top-notch noise cancelling, Sony's WH-1000XM5 headphones are an excellent alternative and may even be a better option for some. The M5 (as in Mark 5) may not have the catchiest name, but they make up for it with a formidable mix of brilliant performance and a truckload of great features.

    Sony wrote the book on modern headphone design with its WH-1000X series, putting you in the driver's seat for a dizzying array of options. It all starts with the brand's powerful Headphones app letting you control your noise cancelation in multiple ways, including an option based on your environment. You can silence audio with your voice or let in the outside world with a simple hand gesture on the right ear cup. Alexa is available for smart control, and customization of Sony's 360 Reality Audio lets you unlock spatial sound with supported content.

    Features aside, the XM5s are as polished as you'd expect a flagship pair of headphones from a market leader to be. Their touch controls are intuitive and responsive. Their noise cancelling is incredibly effective across registers. Sound quality is sweet, smooth, and superbly detailed to the point that you'll likely hear things you've missed in multiple previous listens. Their streamlined design and memory foam padding also make them comfortable for hours (though Bose's Ultras are even comfier).

    The only noteworthy issue we take with Sony's latest design is that, unlike the Bose Ultra and Sony's cheaper WH-1000XM4, the M5s don't collapse for travel, making them harder to pack. Frankly, the most convincing argument against these cans is made by Sony's cheaper M4 headphones, which offer a lot of what makes the M5s great for less cash. But if you want Sony's best and all the features that come along, the WH-1000XM5s are a great buy.

    Read our Sony WH-1000XM5 headphones review.

    Best in-ear
    A pair of Sony WF-1000XM5 earbuds in a case on a table in front of a smartphone.
    Sony's WF-1000XM5 earbuds use an in-ear design and deliver a compact solution for buyers who want noise-cancelling headphones.

    The WF-1000XM5 are our pick for the best wireless earbuds you can buy. They pack what we love about Sony's top-tier over-ear headphones into a micro-sized frame with an in-ear design, offering tons of features, great sound, and excellent noise cancelling in a sleek design that fits neatly in your pocket.

    Even for earbuds, the WF-1000XM5 are remarkably small for their class, especially compared to their predecessors, the WF-1000XM4, and top rivals like Bose's QuietComfort II and Ultra buds. Their size is all the more impressive given their exceptional battery life and performance, with noise cancelling that knocks out low-end frequencies and effectively muffles high-register sounds like voices and clattering dishes.

    Like their full-sized cousins, the WF-1000XM5 are also packed with features. Opening the Sony Headphones app, you'll find settings to adjust everything from ambient sound and noise cancelling to Multipoint pairing, speak-to-chat (pausing sound when you speak), head gesture controls, and a multi-band EQ.

    Sound performance is crisp, punchy, and accurate across genres, with a penchant for instrumental definition. You can raise the sound quality further by activating Sony's DSEE Extreme audio upscaling engine, while supported Android devices can access high-resolution Bluetooth streaming with Sony's LDAC audio technology. The buds also provide good call quality thanks to bone conduction sensors.

    With the XM5s, Sony has also improved the physical design of its top earbuds thanks to a more stable and secure fit to go along with basic water resistance for versatile use cases. One complaint about the redesign: these things are slippery, making it challenging to grip or nudge them out of the case. They're also quite expensive, but their fantastic performance and packed set of features make them an excellent option for anyone who wants a compact pair of noise-cancelling earbuds.

    How we test noise-cancelling headphones
    The silver Sony WH-1000XM5 wireless noise-cancelling headphones earcups

    When testing headphones for consideration in our guide to the best noise-cancelling headphones, we use them as we would in our daily lives to get a sense of how they'll perform for a typical listener. That includes evaluating features like ease of setup with different source devices, comfort, battery life, and general usability. We assess sound quality by listening to music across multiple genres from the best music streaming services as well as in high resolution. We also play videos and listen to them with each model to test features like spatial audio and head tracking with stereo and Dolby Atmos content.

    To evaluate noise cancelling and transparency mode, we conduct real-world testing in natural environments and, whenever possible, in situations like plane flights or train commutes. We also incorporate a sound-treated room and professional stereo monitors to reproduce sounds like airplane noise, voices, and other effects. Battery testing includes putting the headphones on a stopwatch at medium volume to make sure they live up to their manufacturer's claims or come close.

    Noise-cancelling headphones FAQs
    The Sony WH-1000XM5 wireless noise-cancelling headphones in black.

    What is noise cancelling?

    Noise cancellation, also known as Active Noise Cancellation (ANC) or Adaptive Noise Cancellation, is a technology designed to suppress sounds in your immediate environment. Noise-cancelling headphones are outfitted with tiny microphones which pick up ambient sounds. They then use onboard circuitry to analyze those sounds in real time, flipping the polarity of the frequencies (essentially reversing their waveforms) to "cancel" them. 

    Noise cancellation is an imperfect science and, as of yet, it's not able to block out all of the sounds in a given environment. That said, with each iteration, the best noise-cancelling headphones and earbuds increase how much sound they can block, especially at higher frequencies which are generally the hardest to cancel. The better the noise cancellation, the more frequencies are blocked, and the more noise your headphones can reduce.

    Are over-ear headphones better than earbuds for noise cancelling?

    While the gap between over-ear headphones and earbuds was once more prominent, today's top noise-cancelling earbuds are close to or on par with the best over-ear headphones with ANC. Both types offer good passive noise isolation, and both also use a mix of advanced hardware and software, including multiple microphones. While it varies case by case, you can now get very effective noise cancelling in either over-ear headphones or earbuds.

    What is transparency mode?

    Transparency mode, also called ambient audio (or sometimes hear-thru), is essentially the opposite of noise cancelling. Using the same exterior microphones, instead of cancelling the sound around you, transparency mode pipes ambient sound into your headphones in an effort to keep you aware of your surroundings. Transparency modes on most headphones can be easily toggled on and off so you can go from listening to music with ANC to letting outside sound in. This is not only a great safety feature, but it can also be helpful for situations like flights or other forms of mass transit where you need to communicate quickly.

    What is Bluetooth wireless connectivity?

    Bluetooth is a wireless technology that allows for an exchange of data, for our purposes in the form of audio, across short distances. Most Bluetooth devices offer a range of around 33 feet, though some, such as Class 1 Bluetooth devices, can travel 100 feet or more. Improvements in Bluetooth over time have allowed for increased bandwidth and, among other things, higher sound quality that's more reliable. In general, having the latest Bluetooth version can mean speed, efficiency, and reliability improvements.

    Read the original article on Business Insider
  • The next North Korea crisis could come this year

    SEOUL, SOUTH KOREA - 2024/04/22: South Korea's 24-hour Yonhapnews TV shows a file image of North Korea's missile launch during a news program on a TV at Yongsan Railroad Station in Seoul.
    South Korea's 24-hour Yonhapnews TV shows a file image of North Korea's missile launch during an April 22, 2024 news program on a TV at Yongsan Railroad Station in Seoul.

    • Tensions are high between North and South Korea, and it could erupt into a crisis sooner than later.
    • North Korea is expected to provoke conflict before the 2024 US election in November.
    • It could drag the US into a clash on the peninsula, an expert says.

    Tensions are flaring between North Korea and South Korea, and it could lead to conflict sooner rather than later.

    While there's no indication full-scale war is coming, a provocation from North Korea — heightened in a South Korean and US election year — could prompt retaliation from South Korea's hawkish president, an expert says.

    "The real nature of any forthcoming North Korean crisis is difficult to predict," Sue Mi Terry, senior fellow for Korea studies with the Council on Foreign Relations, wrote in an article for Foreign Affairs last week. "Nonlethal provocations," like cyberattacks against government and defense institutions, should be expected at the minimum.

    But on the other end of the spectrum, North Korea could conduct more testing for its Hwasong-18 solid-fuel intercontinental ballistic missile or even a tactical nuclear weapons test, or even go beyond "saber-rattling," as Terry described, launching "an actual, if limited, military attack against South Korea," not unlike incidents in 2010 when North Korea shelled Yeonpyeong and sank a South Korean naval vessel, killing 46 crew members.

    North Korea has many reasons to provoke. It could be to seize international attention and fear for negotiating leverage or to drive a wedge in the US-South Korea alliance; some provocations seem to be in defiance to US-South Korean military exercises, for example.

    If such a clash between North Korea and South Korea occurred, it could quickly spiral into wider conflict. South Korea's current president, Yoon Suk-yeol, has taken a tougher stance on North Korea since his election two years ago, strengthening ties with the US and Japan much to Pyongyang's disapproval.

    Yoon is, as Terry wrote, "an avowed hawk and has promised to respond forcefully to any North Korean attack." What that looks like remains unclear, but it sets the stage for growing pressure.

    TV showing North Korea's firing of a Hwasong-18 solid-fuel intercontinental ballistic missile (ICBM)
    A TV showing North Korea's firing of a Hwasong-18 solid-fuel intercontinental ballistic missile (ICBM) on December 19, 2023.

    A notable shift came earlier this year, when North Korea declared South Korea "our principal enemy" and threatened to "thoroughly annihilate" it along with the US if provoked. While these may just seem like fighting words, North Korean leader Kim Jong-un conducted a major shift in the background, removing any goal of unification between the two Koreas from the government's policies.

    This included the very public demolition of the Monument to the Three Charters for National Reunification, built by Kim's father Kim Jong-il as a symbol of peaceful Korean reunification. Government offices, documents, websites, and plans for reunification also went dark. The move was alarming and likely partially influenced by the Yoon administration's harder stance against North Korea than South Korea's previous president, Moon Jae-in.

    Those larger issues are at play during an especially fraught time: a major election year for the US. South Korea also held legislative elections in April, which saw Yoon's party lose seats after his domestic policies have often faced strong opposition.

    Military members salute during a military demonstration involving tank units in North Korea.
    Military members salute during a military demonstration involving tank units in North Korea.

    On the Center for Strategic and International Studies' Capital Cable episode focusing on the future of North Korean policy, Terry talked about a potential provocation coming before the 2024 US election, referencing CSIS research from earlier this year that found that North Korea stages more than four times as many weapons tests in US election years than other years.

    Commentary on the analysis by Victor Cha, the senior vice president for Asia and the Korea chair at CSIS, and Andy Lim, an associate fellow with the CSIS Korea chair, noted that "North Korea exhibits a tendency to ramp up provocations during U.S. election years. While diplomacy could stave off some of the violence, Kim Jong-un has rejected all calls from the Biden administration to meet. Instead, the regime has more than doubled the number of tests since 2021, compared to under the previous U.S. administration."

    This election, shaping up for a rematch between current president Joe Biden and former president Donald Trump, could be notable for North Korea, but that doesn't mean it's the only thing Kim is thinking about.

    North Korea Kim Jong Un submarine
    North Korean leader Kim Jong Un at a launch ceremony for a new "tactical nuclear attack submarine" in early September 2023.

    Times are quite different from four years ago. Since talks at Hanoi with Trump failed in 2019, and the COVID-19 pandemic further isolated the so-called Hermit Kingdom, Kim has taken a large step back from engagement with the US, instead turning towards the country's "more traditional" allies, Russia and China.

    Allison Hooker, a former deputy assistant to the president and senior director for Asia on the National Security Council, said on CSIS' "The Capital Cable" show that there's a lot happening on the global stage for North Korea to exploit for its own gain, from the war in Ukraine, which North Korea has contributed weapons to Russia for, to China and Taiwan.

    And there's a lot going on at home, too, from goals in missile and weapons tests to North Korea's nuclear program. Kim is hard at work in those areas, and Hooker noted Kim could be looking to reengage in foreign policy with the US and South Korea down the road.

    "The point is to reengage from a position of great strength," she said.

    Read the original article on Business Insider
  • What Comcast’s new Netflix, Peacock, Apple TV+ streaming bundle tells you about the industry’s economics

    Apple TV +, Peacock, and Netflix logo inside a lasso
    • Comcast is selling Netflix, Peacock, and Apple TV+ for $15 a month. It would cost $23 to get them separately.
    • Where does that $8-a-month discount come from? 
    • Good question. The possible answer tells you a lot about streaming economics these days.

    If you subscribe to Netflix's cheapest plan, and also get Peacock's cheapest plan, and also get Apple TV+, it will cost you $23 a month.

    But if you get them all together, via a new package Comcast has started selling to its broadband customers, it will cost $15 a month — a discount of more than 30%.

    This is one of several new bundles the streaming industry is trying out these days — and, like I've written before, it's not really a return to the bundles of the old cable TV days. And you should be thankful for that.

    But what's the math behind the bundle? There's $8 of discounts a month here, spread among three companies. Are all of them taking less than they normally do? Or is one company subsidizing the others?

    Spoiler: I don't know. But I have heard two different theories of the case.

    The first is the more obvious one: Netflix is a big, very popular service that many people have heard of. Peacock and Apple are much smaller. So Peacock and Apple would get more benefit from being in a bundle with Netflix, so they are more likely to discount their rates in order to make the bundle work.

    I floated that one to Netflix co-CEO Ted Sarandos last week after his company's "upfront" presentation to ad buyers. He told me he wouldn't comment about any of the economics behind any of Netflix's deals. But, he added with a smile, he appreciated the logic behind my theory.

    But then there's the second theory I've heard floated — that all three services benefit from the bundle, so everyone makes some kind of accommodation. Part of that theory is one you've heard before: Bundles are easier/more cost-effective to market, and they reduce "churn" — people dropping out of services each month, which is a huge problem for the streaming business.

    But another part of that argument was new to me: That people who get streaming services by signing up via broadband companies like Comcast or Verizon are much less likely to stop and start their subscriptions. Which would make Netflix much more willing to take a discounted rate for this kind of bundle than it would be if it were part of a different bundle.

    That's pretty intriguing, and it does make sense. Digital distributors like Apple have made it very easy for subscribers to turn their streaming subscriptions on and off. But if you're getting say, Disney+ at a discount via a Verizon promotion, it requires several steps to turn that off. Just as important — you're much more likely to forget you're paying for Disney+ at all, since its cost gets buried in a monthly Verizon bill you may never look at.

    Is that true? Good question. Netflix, Comcast, and Apple all declined to comment about bundle economics. And it turns out that Antenna, the subscription-tracking service I often use to learn about this kind of thing, doesn't track subscriptions via wholesale deals like this.

    But here's something that gives some credence to the notion: Documents from Apple, unearthed via 2021 court proceedings, about Netflix's decision to stop selling subscriptions via Apple's App Store in 2018. Netflix, according to Apple executives who were discussing the move, wasn't just motivated to stop selling because of the fee Apple takes for each subscriber — they were also concerned that customers they acquired that way were more likely to unsubscribe.

    So maybe all streaming subscriptions aren't equal.

    Read the original article on Business Insider
  • ResMed shares higher as company ‘turns the GLP threat into an opportunity’: Fundie

    Man with a sleep apnoea mask on whilst sleeping.

    ResMed CDI (ASX: RMD) shares closed at $32.80 apiece on Tuesday, up 1.14% for the day.

    The stock is up 29% in the year to date and up 55% since their 52-week low in October.

    The sleep apnoea device maker has been in recovery mode after a slump in the stock price last year.

    ResMed shares staging an impressive recovery

    As the chart above shows, ResMed shares were sold off in the second half of last year.

    The stock fell for two reasons. There was a general healthcare sector sell-off; and investors were feeling increasingly concerned that GLP-1 obesity drugs like Ozempic would reduce ResMed’s earnings.

    They feared this because obesity is a common pre-cursor to sleep apnoea. So their thinking was if Ozempic eradicates obesity, ResMed may not sell as many sleep apnoea machines in the future.

    The ASX 200 healthcare share took a real beating on those fears. Resmed shares hit a four-year low of $21.14 on 13 October.

    Many brokers slapped buy ratings on ResMed shares following the sell-off, reasoning that the global sleep apnoea market was huge and not all patients had obesity, so investors’ fears were unfounded.

    ResMed CEO Mick Farrell tried to reassure investors by telling them the company was proactively tracking the impact of Ozempic and GLP-1 medicines through internal modelling.

    How will Ozempic impact ResMed’s earnings?

    By October, Farrell was ready to quantify the impact. Ozempic and GLP-1s may cost the company 200 million people in terms of the total addressable market (TAM) for sleep apnoea products.

    That sounds like a lot, but not really when you consider the TAM for sleep apnoea worldwide will be 1.2 billion by 2050 after taking into account the impact of GLP-1s, according to Farrell.

    And with just 22.5 million people using ResMed CPAP machines, the available TAM remained enormous.

    At the time, Farrell said they were not seeing any reduced use of ResMed products among patients using both GLP-1s for their obesity and ResMed devices for their sleep apnoea.

    Then in January, Farrell revealed that further internal research showed a 10% increase in patients on GLP-1s buying sleep apnoea machines.

    Not only that, but as patients on GLP-1s lost weight, they were not abandoning their CPAP devices, either.

    This is why Blackwattle Investment Partners is happy to have ResMed shares as its top active position in the Large Cap Quality Fund today. And they reckon the share price has more room to run.

    ResMed has turned GLP-1s into ‘an opportunity’

    In an update released last week, Blackwattle Large Cap portfolio managers Ray David, Joseph Koh and David Meehan said ResMed had delivered a strong March quarterly update.

    They said this had further alleviated investors’ concerns over the threat of GLP-1 drugs, commenting:

    … ResMed has turned the GLP threat into an opportunity. Patient funnel flow into CPAP diagnosis is accelerating due to ResMed’s efforts to raise awareness of the combined benefits of GLP weight loss therapy with its CPAP products.

    In addition, profitability is accelerating due easing freight inflation, and the transition to ResMed’s new Airsense 11 platform.

    This platform is a meaningful step up from the previous CPAP platform, featuring increased connectivity functions such as personal therapy and care check-in settings which have been years in development.

    ResMed shares still trading at ‘hefty discount’

    The managers said that ResMed shares had rebounded strongly but still offered value today.

    Even after the recent share price outperformance, ResMed’s forward PE of 24x is still at a hefty discount to the 10-year average.

    We still consider this an attractive valuation relative to ASX Industrials given ResMed generates superior returns on capital, generates strong cashflow, and has tailwinds from an aging population and obesity rates, despite the birth of the GLP drug class.

    We also believe the competitive landscape will be benign for some time as its likely to take years for Koninklijke Philips NV (NYSE: PHG) to build back trust given its high-profile recall.

    Blackwattle describes ResMed as “one of the most innovative medical equipment providers globally”.

    The managers say this innovation is being shown in the application of cloud connectivity with 25 million devices. This provides data to payers and helps facilitate resupply.

    The post ResMed shares higher as company ‘turns the GLP threat into an opportunity’: Fundie appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Resmed Inc. right now?

    Before you buy Resmed Inc. shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Resmed Inc. wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • 5 ways to get more money into your superannuation by June 30

    Superannuation written on a jar with Australian dollar notes.

    Superannuation is one of the most tax-effective retirement savings and investment vehicles around, and with about six weeks to go until the end of the financial year, it’s time to start thinking ‘strategy’.

    One of the best ways to harness the ‘miracle of compounding‘ is to add more funds to your superannuation every year.

    And if you do it by 30 June, you can collect a handsome tax break on your FY24 income, too.

    There are also other ways you can boost your superannuation balance before the end of the year.

    Helpfully, Vanguard Australia has outlined five easy ways to get more money into your super by 30 June.

    You may know Vanguard as the global pioneer of index funds. The company is also one of the biggest ASX ETF managers in Australia and launched an Australian superannuation product in November 2022.

    5 ways to boost superannuation before EOFY

    Make extra concessional (pre-tax) contributions

    For FY24, you’re allowed to have up to $27,500 in concessional (pre-tax) contributions paid into your superannuation account. This includes your employer’s compulsory Superannuation Guarantee payments, any salary sacrifice amounts, and any additional money you deposit yourself as a personal contribution.

    Concessional contributions are taxed at 15% instead of your marginal tax rate. So, if you deposit $10,000 of your after-tax income into superannuation, you’ll be able to claim a tax deduction on your tax return.

    There are forms involved to get all this organised, so get cracking on this task well before the EOFY.

    Make use of carry-forward (catch-up) concessional contributions

    You may be able to contribute more than the annual cap of $27,500 in concessional contributions if you have carry-forward concessional contributions available to use.

    Carry-forward contributions are unused concessional contributions from the previous five financial years.

    This measure was introduced in FY19, which means any unused concessional contributions you have from the FY19 year must be used in the FY24 year, or they’ll be lost forever!

    Vanguard’s Tony Kaye explains:

    For example, if $15,000 in employer and personal concessional contributions were made into your super account in 2018-19, you may be able to take advantage of your unused $5,000 gap from that financial year (the maximum concessional contributions limit was $20,000 in 2018-19) and roll it over into this financial year’s contributions.

    This $5,000 would be in addition to the maximum $27,500 in allowable concessional contributions that can be made this financial year (allowing you to contribute up to $32,500 in this example).

    Carry-forward contributions are only available for superannuation accounts worth less than $500,000.

    You can find out how much you have available in carry-forward concessional contributions by visiting the ATO portal via MyGov.

    Make non-concessional (after-tax) contributions

    Non-concessional contributions are after-tax personal contributions that can’t be claimed as a tax deduction. The non-concessional contributions limit is $110,000 per financial year.

    Home downsizer contributions

    This contribution of up to $300,000 per person doesn’t have an EOFY deadline. But you have to do it within 90 days of receiving the proceeds from the sale of your home. (Kaye notes that the ATO will allow for a longer period if there are circumstances beyond your control.)

    The downsizer superannuation contribution is an option available to Australians aged 55 or older.

    They must have sold a home they have owned and lived in for at least 10 years. If a couple owns the home, they can both contribute $300,000 to their superannuation funds.

    The downsizer contribution is a non-concessional contribution but doesn’t count toward the non-concessional contributions annual cap.

    Once again, there are forms to fill in, and you’ll find them here.

    Spouse contributions

    If your superannuation fund allows it, then ATO rules give couples the option to split up to 85% of their annual concessional contributions.

    The maximum amount you can apply to split is the lesser of 85% of your concessional contributions for that financial year, or 85% of the concessional contributions cap for that financial year.

    Find out how much superannuation you need for a comfortable retirement lifestyle in Australia today.

    The post 5 ways to get more money into your superannuation by June 30 appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • All the GOP politicians who’ve flocked to Trump’s Manhattan trial to support him

    Trump's trial visitors include House Speaker Mike Johnson, the most powerful GOP lawmaker in the United States.
    Trump's visitors have included House Speaker Mike Johnson, the most powerful GOP lawmaker in the United States.

    • A long list of prominent GOP politicians have flocked to Trump's ongoing trial in Manhattan.
    • They include the speaker of the House, one governor, and several senators and House members.
    • It's an effort to show loyalty — and for some, boost their VP chances.

    Former President Donald Trump's hush-money trial in New York is suddenly the biggest magnet for ambitious Republican politicians hoping to demonstrate their loyalty.

    In recent weeks, the Manhattan criminal courthouse has played host to the speaker of the House, several GOP senators and vice-presidential contenders, over a dozen House members, and even two state attorneys general.

    It's resulted in at least one senator missing a vote, the postponing of a congressional mark-up, and a bevy of Republican heavyweights turning themselves into attack dogs for the presumptive 2024 nominee — who remains barred from criticizing jurors and witnesses via a gag order.

    And Trump has yet to receive a courtroom visit from his own wife, Melania.

    Here are all of the Republicans who've flocked to the trial so far.

    Sen. Rick Scott was the first elected Republican to show up. He ended up missing a vote.
    Florida Sen. Rick Scott walks behind Trump at the trial on May 9.
    Florida Sen. Rick Scott walks behind Trump at the trial on May 9.

    On Thursday, May 9, Sen. Rick Scott of Florida became the first elected Republican to show up to the trial.

    "What he is going through is just despicable," Scott told reporters outside the courtroom, arguing the trial was "clearly criminal" and was being run by "political thugs."

    Scott's visit came in the middle of the week, while the Senate was taking votes on a bill to reauthorize the Federal Aviation Administration for the next five years.

    The Florida senator, who's up for reelection in November, ended up missing a procedural vote on the bill later that day.

    That prompted his Democratic opponent, former Rep. Debbie Mucarsel Powell, to slam him as "sucking up to a defendant found liable for sexual abuse" and putting his "own extreme agenda before the people he was elected to represent."

    Sen. JD Vance was the first VP contender to show up.
    Sen. JD Vance snaps a photo at the trial on May 13.
    Sen. JD Vance snaps a photo at the trial on May 13.

    On Monday, May 13, Sen. JD Vance of Ohio was among the next crop of senators to show up — and the first vice presidential contender to do so.

    He later took to social media, calling the courtroom "dingy" while suggesting that the "main goal of the trial is psychological torture."

    Sen. Tommy Tuberville
    Sen. Tommy Tuberville of Alabama at the trial on May 13.
    Sen. Tommy Tuberville of Alabama at the trial on May 13.

    Tuberville came to the trial alongside Vance, where he derided jurors as being "supposedly American."

    He later told the conservative network Newsmax that he came to the trial to help Trump "overcome this gag order."

    Sen. Eric Schmitt
    Sen. Eric Schmitt at the trial on Tuesday, May 21.
    Sen. Eric Schmitt at the trial on Tuesday, May 21.

    The Missouri senator, among the first to endorse Trump in 2024, visited the trial on Tuesday, May 21.

    Like Sen. Scott, he ended up missing votes to do so.

    "You want to talk about threats to democracy? That's what this is across the street," Schmitt said at a press conference with other Republicans outside the trial.

    Gov. Doug Burgum was the 2nd VP contender to show up.
    North Dakota Gov. Doug Burgum at the trial on May 14.
    North Dakota Gov. Doug Burgum at the trial on May 14.

    Burgum — another VP contender whose political stock has been on the rise recently — attended the trial on Tuesday, May 14.

    He and the other Republicans in attendance quickly made waves on social media for wearing apparently matching outfits.

    https://platform.twitter.com/widgets.js

    Vivek Ramaswamy showed up, too.
    Former GOP presidential candidate Vivek Ramaswamy at the trial on May 14.
    Former GOP presidential candidate Vivek Ramaswamy at the trial on May 14.

    Vivek Ramaswamy, the tech entrepreneur and 2024 presidential candidate, showed up to the trial on the same day as Burgum.

    He also happens to be a vice presidential contender — albeit, a lower-tier one.

    House Speaker Mike Johnson
    Johnson speaking to reporters outside the trial on May 14.
    Johnson speaking to reporters outside the trial on May 14.

    The highest-ranking Republican to visit the trial has been House Speaker Mike Johnson, who traveled to Manhattan on the same day as Burgum and Ramaswamy.

    The speaker delivered a series of remarks — including slamming the district attorney, the judge, and Michael Cohen — without taking questions afterwards.

    "He is soon to be officially the nominee of one of the major parties in our country," Johnson said of Trump. "Running for president, and they have him tied up here in this ridiculous prosecution. That is not about justice, it's all about politics, and everybody can see that."

    He concluded by insisting that he came to the trial "on my own" because he's "deeply concerned about this."

    Two dozen other House Republicans have also shown up
    Nine House Republicans, including Rep. Matt Gaetz, attended the trial on Thursday, May 16.
    Nine House Republicans, including Rep. Matt Gaetz, attended the trial on Thursday, May 16.

    On Thursday, May 16, the biggest crop of House Republicans yet attended Trump's trial.

    That included Rep. Lauren Boebert of Colorado, who was met with chants of "Beetlejuice" as she took to the microphones outside the courtroom.

    https://platform.twitter.com/widgets.js

    Here are the 20 rank-and-file House Republicans who've attended the trial so far:

    • Andy Biggs of Arizona
    • Lauren Boebert of Colorado
    • Eric Burlison of Missouri
    • Michael Cloud of Texas
    • Andrew Clyde of Georgia
    • Eli Crane of Arizona
    • Byron Donalds of Florida
    • Matt Gaetz of Florida
    • Bob Good of Virginia
    • Diana Harshbarger of Tennessee
    • Ronny Jackson of Texas
    • Anna Paulina Luna of Florida
    • Mary Miller of Illinois
    • Cory Mills of Florida
    • Nicole Malliotakis of New York
    • Dan Meuser of Pennsylvania
    • Troy Nehls of Texas
    • Ralph Norman of South Carolina
    • Andy Ogles of Tennessee
    • Maria Elvira Salazar of Florida
    • Keith Self of Texas
    • Dale Strong of Alabama
    • Mike Waltz of Florida
    • Daniel Webster of Florida
    The top law enforcement officials in Iowa, Alabama, and South Carolina have also flocked to a criminal defendant's defense.
    Iowa Attorney General Brenna Bird speaks to reporters outside the trial on May 13.
    Iowa Attorney General Brenna Bird speaks to reporters outside the trial on May 13.

    One other intriguing cohort of trial attendees: three Republican state attorneys general.

    Iowa Attorney General Brenna Bird and Alabama Attorney General Steve Marshall were among the cohort of Republicans who attended the trial on Monday, May 13. South Carolina Attorney General Alan Wilson attended the trial on Monday, May 20.

    Their attendance is particularly striking: they are the top law enforcement officials in their respective states, and they're publicly taking the side of a criminal defendant in another state.

    Read the original article on Business Insider
  • The richest person in every state

    Elon Musk.
    Elon Musk is the richest resident of Texas.

    • Forbes compiled a list of the richest person in every state in 2024.
    • The billionaires include members of the Walton family, Mars family, and Chick-fil-A's Cathy family.
    • Alaska, Delaware, and West Virginia are the only states without billionaires.

    The US is home to more billionaires than any other country. While it's tempting to think they all congregate in California, New York, and Florida, these ultra-rich members of society can also be found in Bloomington, Indiana, Bentonville, Arkansas, and many other cities nationwide. In fact, there are billionaires in 47 states.

    In May 2024, Forbes released a list of the wealthiest person in each state. With fortunes across industries like tech, retail, agriculture, and oil, these individuals have a combined net worth of $1.6 trillion.

    Find out who's the richest person that calls your state home, according to Forbes' report. The below estimated net worths were accurate as of March 2024.

    ALABAMA: Jimmy Rane
    Jimmy Rane Alabama
    Jimmy Rane.

    Net worth: $1.5 billion

    Age: 77

    Source of wealth: As the founder and CEO of Great Southern Wood Preserving, Rane helped popularize the lumber business by appearing in commercials as a cowboy known as "the Yella Fella."

    Residence: Abbeville

    ALASKA: Jonathan Rubini and family, Leonard
    Hyde and family
    Anchorage, Alaska.
    Anchorage, Alaska.

    Net worth: $400 million

    Age: Rubini is 69; Hyde is 67.

    Source of wealth: Rubini serves as the CEO and chairman of commercial real-estate developer JL Properties, while Hyde serves as its president. Each of them owns 50% of the business, which also includes properties in Florida and Utah, Forbes reported.

    Residence: Anchorage

    ARIZONA: Ernest Garcia II
    A Carvana used car "vending machine"
    A Carvana used car "vending machine" in Miami, Florida.

    Net worth: $8 billion

    Age: 67

    Source of wealth: Ernest Garcia II owns the used car retailer DriveTime Automotive. He is also the largest shareholder of Carvana, an online used car dealer founded by his son Ernest Garcia III in 2012.

    Residence: Tempe

    ARKANSAS: Jim Walton and family
    Jim Walton
    Jim Walton.

    Net worth: $78.4 billion

    Age: 75

    Source of wealth: Jim Walton and his siblings inherited their wealth from their father, Sam Walton, who opened the first Walmart store in 1962 and founded the discount warehouse Sam's Club in 1983. Jim Walton is also the chairman of Arvest Bank.

    Residence: Bentonville

    CALIFORNIA: Mark Zuckerberg
    The founder and head of Facebook's Meta Group, Mark Zuckerberg, presents new devices and AI at a conference.
    Mark Zuckerberg.

    Net worth: $177 billion

    Age: 40

    Source of wealth: As a student at Harvard, Zuckerberg cofounded a social network known as "The Facebook" in 2004. He went on to become CEO of Meta, the parent company for Facebook, Instagram, WhatsApp, and Threads.

    Residence: Palo Alto

    COLORADO: Philip Anschutz
    Philip Anschutz
    Philip Anschutz.

    Net worth: $15.3 billion

    Age: 84

    Source of wealth: Anschutz initially amassed his fortune through the discovery of an oil field on the Wyoming-Utah border in 1979 and subsequent investments in railroad companies. He founded Anschutz Entertainment Group (AEG) in 1994, which owns major sports teams and performance venues such as the Crypto.com Arena. AEG is also the parent company for Coachella music festival.

    Residence: Denver

    CONNECTICUT: Steve Cohen
    steve cohen
    Steve Cohen.

    Net worth: $19.8 billion

    Age: 67

    Source of wealth: Cohen founded two hedge funds, SAC Capital and Point72. Until SAC Capital was shut down after pleading guilty to insider trading charges in 2013, it was one of the most successful hedge funds in the world. (Cohen himself was never charged.) Point72 currently manages over $30.6 billion, Forbes reported. He also holds a 95% ownership stake in the New York Mets.

    Residence: Greenwich

    DELAWARE: Elizabeth Snyder
    A waterproof Gore-Tex coat displayed in a block of ice at an outdoor supplies shop
    A Gore-Tex coat.

    Net worth: $800 million

    Age: 77

    Source of wealth: Snyder's parents founded WL Gore & Associates, a manufacturing company that holds over 7,000 patents, in 1958. Gore-Tex, a waterproof fabric used in outdoor apparel and shoes, remains its most profitable invention. Snyder owns around 5.5% of the company, Forbes reported.

    Residence: Wilmington

    FLORIDA: Jeff Bezos
    Jeff Bezos
    Jeff Bezos.

    Net worth: $194 billion

    Age: 60

    Source of wealth: Bezos founded e-commerce titan Amazon in 1994 and still owns around 9% of the company. As of March 2024, he was the second-richest person in the US behind Elon Musk. Bezos has since overtaken Musk and attained the title of second-richest person in the world behind LVMH CEO Bernard Arnault, according to Forbes' real-time billionaires list.

    Residence: Miami

    GEORGIA: Dan Cathy, Bubba Cathy, and Trudy Cathy White
    Chick-fil-A Inc. president and COO Dan Cathy, son of the chain's founder Truett Cathy, sounds the trumpet while visiting one of his franchises.
    Dan Cathy.

    Net worth: $11.2 billion

    Age: 71, 69, and 68

    Source of wealth: The Cathys are heirs to the Chick-fil-A family fortune. Founded by their father, S. Truett Cathy, in the 1960s, the fried-chicken fast-food chain now has over 2,800 restaurant locations worldwide.

    Residence: Atlanta

    HAWAII: Pierre Omidyar
    Pierre Omidyar, Chairman and Founder of eBay, looks on during the final session of the annual Clinton Global Initiative meeting in New York, on Thursday, September 23, 2010.
    Pierre Omidyar.

    Net worth: $6.3 billion

    Age: 56

    Source of wealth: Omidyar founded eBay in 1995 and became a billionaire when the e-commerce company went public during the dot-com bubble in 1998. eBay also acquired PayPal in 2002 for $1.5 billion.

    Residence: Honolulu

    IDAHO: Frank VanderSloot
    View of the temple in the Idaho falls, Idaho.
    Idaho Falls, Idaho.

    Net worth: $3.3 billion

    Age: 75

    Source of wealth: VanderSloot is the founder and former chief executive of Melaleuca, Inc., which sells nutritional and wellness products online. Forbes reported that the company now has over one million customers each month.

    Residence: Idaho Falls

    ILLINOIS: Lukas Walton
    Lukas Walton
    Lukas Walton.

    Net worth: $28 billion

    Age: 37

    Source of wealth: Lukas Walton is the billionaire heir to the Walmart fortune and the grandson of Walmart founder Sam Walton. Lukas Walton inherited his vast wealth after his father, John T. Walton, died in a plane crash in 2005 at the age of 58.

    Residence: Chicago

    INDIANA: Carl Cook
    Indiana University Bloomington
    Indiana University Bloomington.

    Net worth: $10.6 billion

    Age: 61

    Source of wealth: Cook has served as CEO of Cook Group, a medical-device manufacturing company founded by his parents, since his father's death in 2011. Bloomberg reported the company made about $2.3 billion in revenue in 2022 and sells its products in over 135 countries.

    Residence: Bloomington

    IOWA: Harry Stine
    FILE PHOTO: Harry Stine, chief executive for Stine Seed, poses next to corn planted near the company's offices in Adel, Iowa, U.S. October 26, 2016. REUTERS/Tom Polansek
    Harry Stine.

    Net worth: $9.7 billion

    Age: 82

    Source of wealth: Stine is an agricultural pioneer and the founder and owner of Stine Seed, a corn and soybean seed company based in Adel, Iowa. According to the company's website, Stine Seed and its affiliates own around 800 patents related to soybean and corn genetic technology. Major licensing deals have helped it become one of the world's largest private seed companies.

    Residence: Adel

    KANSAS: Charles Koch and family
    Charles Koch poses for a photograph looking off frame.
    Charles Koch.

    Net worth: $58.5 billion

    Age: 88

    Source of wealth: Koch amassed his billions from serving as co-CEO of Koch Industries, which produces around $125 billion in revenue each year, Forbes reported. Founded in 1940 by his father, Fred Koch, Koch Industries is involved in various businesses, from oil pipelines to paper goods, and is the second-largest private company in the US.

    Residence: Wichita

    KENTUCKY: Tamara Gustavson
    Tamara Hughes Gustavson and Eric Gustavson
    Tamara Hughes Gustavson (left) and Eric Gustavson.

    Net worth: $7.8 billion

    Age: 62

    Source of wealth: Gustavson made her billions as the heiress to the Public Storage empire and as a prize-winning horse breeder. Her father, B. Wayne Hughes, cofounded Public Storage, a self-storage company that now owns and operates thousands of locations across the US and Europe, in 1972. Forbes reported Gustavson owns about 10% of the company.

    Residence: Lexington

    LOUISIANA: Todd Graves
    Todd Graves, the CEO and founder of Raising Cane's, is one of the world's 500 richest people, according to Bloomberg.
    Todd Graves.

    Net worth: $9.1 billion

    Age: 52

    Source of wealth: Graves, the founder and CEO of the chicken-tender restaurant chain Raising Cane's, opened his first restaurant in 1996. The company now has more than 750 restaurants in the US and internationally and $3.7 billion in annual sales, Forbes reported.

    Residence: Baton Rouge

    MAINE: Susan Alfond
    Susan Alfond of Scarborough, Harry Sawyer of Portland, and his wife and board member, Jane Sawyer.
    Susan Alfond.

    Net worth: $3.1 billion

    Age: 78

    Source of wealth: Alfond's father, Harold Alfond, made a fortune as the founder of the Dexter Shoe Company, once one of the largest shoe manufacturers in the US. He sold the company to Warren Buffett in 1993 for $420 million in Berkshire Hathaway stock, Forbes reported. Harold Alfond died in 2007, leaving his fortune to Susan Alfond and her three siblings.

    Residence: Scarborough

    MARYLAND: Annette Lerner and family
    Annette Lerner
    Washington Nationals principal owner, Mark Lerner, with his mother, Annette Lerner.

    Net worth: $6.4 billion

    Age: 94

    Source of wealth: Lerner's fortune grew after she loaned $250 to her husband, Ted Lerner, to establish a firm that sold homes to real-estate developers, Forbes reported. Founded in 1952, the firm grew to become one of the most successful real-estate companies in the DC area. The Lerners also made their money as owners of the Washington Nationals baseball team.

    Residence: Chevy Chase

    MASSACHUSETTS: Abigail Johnson
    Abigail Johnson
    Abigail Johnson.

    Net worth: $29 billion

    Age: 62

    Source of wealth: Johnson is the president and CEO of Fidelity Investments, and holds an estimated 28.5% ownership in the company. In 2022, American Banker named Johnson the second-most-powerful woman in finance, and she has been praised for embracing mobile technology and cryptocurrency in the company's business initiatives.

    Residence: Milton

    MICHIGAN: Daniel Gilbert
    Michigan
    Michigan.

    Net worth: $26.2 billion

    Age: 62

    Source of wealth: Gilbert is the founder and chairman of Rocket Companies, formerly known as Quicken Loans. From 2013 to 2018, under Gilbert's leadership, the company closed nearly half a trillion in home loans, according to the Gilbert Family Foundation. In 2020, when Quicken Loans went public as Rocket Companies, it was valued at $36 billion, Reuters reported.

    Residence: Franklin

    MINNESOTA: Glen Taylor
    Glen Taylor
    Glen Taylor.

    Net worth: $2.9 billion

    Age: 83

    Source of wealth: Taylor purchased Carlson Letter Service, a wedding stationery business that he worked for while attending college, in 1975, according to the company's website. It became the Taylor Corporation, a print services and communications company. He also owns stakes in the Minnesota Timberwolves and other sports teams.

    Residence: Mankato

    MISSISSIPPI: Thomas and James Duff
    Vintage large letter illustrated postcard 'Greetings from Hattiesburg, Mississippi.' showing the Forest County Courthouse, and the Main Street United Methodist Church.
    Hattiesburg.

    Net worth: $3 billion

    Age: 66 and 63

    Source of wealth: The Duff brothers' wealth originates from their family business: tires. Their father, Ernest, founded Southern Tire Mart in the '70s and sold it in 1998. James and Thomas bought it back in 2003 and then cofounded Duff Capital Investors, a holding company, in 2007. According to Forbes, it now brings in $5 billion in revenue across 20+ businesses.

    Residence: Hattiesburg

    MISSOURI: John Morris
    Golf: Bass Pro Shops Legends of Golf: Portrait of Bass Pro Shops owner John L. Morris posing in front of wedding chapel on Top of the Rock course on Sunday at Big Cedar Lodge. Legends and Champions Tour.
    John Morris.

    Net worth: $9.5 billion

    Age: 76

    Source of wealth: Morris is the founder and CEO of Bass Pro Shops, the outdoor gear chain that brings in $8.1 billion in sales revenue annually, according to Forbes. He founded Bass in 1972 in the back of his father's liquor store. In 2016, Bass acquired Cabela's for $5 billion.

    Residence: Springfield

    MONTANA: Dennis Washington
    missoula montana
    The County Courthouse in Missoula, Montana.

    Net worth: $7 billion

    Age: 89

    Source of wealth: Washington owns a business group called Washington Companies, which owns copper mines, marine transportation, and heavy-equipment businesses. He's also invested in his son Kyle's container-ship business, Seaspan Corp.

    Residence: Missoula

    NEBRASKA: Warren Buffett
    warren buffett
    Warren Buffett.

    Net worth: $133 billion

    Age: 93

    Source of wealth: Buffett is perhaps one of the best-known and most successful investors of all time. He's made his fortune via Berkshire Hathaway, which owns brands such as Geico, Dairy Queen, and Duracell. Despite his immense wealth, he's also known for his modest spending habits.

    Residence: Omaha

    NEVADA: Miriam Adelson and family
    Dr. Miriam Adelson and Sheldon Adelson attend Friends of The Israel Defense Forces (FIDF) Western Region Gala at The Beverly Hilton Hotel on November 1, 2018 in Beverly Hills, California.
    Miriam Adelson.

    Net worth: $32 billion

    Age: 78

    Source of wealth: Miriam Adelson is on the list after the 2021 death of her husband, casino magnate and major Republican donor Sheldon Adelson. Now, Miriam Adelson and her family own over 50% of Las Vegas Sands, a casino company worth over $34 billion.

    Residence: Las Vegas

    NEW HAMPSHIRE: Rick Cohen and family
    the Symbotic logo
    Symbotic.

    Net worth: $19.6 billion

    Age: 71

    Source of wealth: Most of Cohen's familial wealth comes from Symbotic, a warehouse automation company that has partnered with Walmart. Cohen is the chairman and CEO. However, Cohen also owns the US' largest grocery wholesaler, C&S Wholesale Grocers, which brings in $33 billion annually, Forbes reported.

    Residence: Keene

    NEW JERSEY: Rocco Commisso
    Rocco Commisso, chairman of Fiorentina, looks on prior to kick-off in the Women Serie A Playoffs match between ACF Fiorentina and Juventus at Viola Park on May 6, 2024
    Rocco Commisso.

    Net worth: $8 billion

    Age: 74

    Source of wealth: Commisso is the founder and CEO of Mediacom, the fifth-largest cable television provider in the US, based on the number of video customers, according to the brand. Commisso also owns two professional soccer teams: the New York Cosmos and ACF Fiorentina.

    Residence: Saddle River

    NEW MEXICO: Ron Corio
    Albuquerque, New Mexico, USA downtown cityscape at twilight.
    Albuquerque, New Mexico.

    Net worth: $1.7 billion

    Age: 62

    Source of wealth: Corio's billionaire status — the first in New Mexico — stems from Array Technologies, a solar tracking systems business. He is the founder and former CEO, resigning in 2020 before its IPO.

    Residence: Albuquerque

    NEW YORK: Michael Bloomberg
    Michael Bloomberg
    Michael Bloomberg.

    Net worth: $106 billion

    Age: 82

    Source of wealth: What hasn't Bloomberg done? Besides his 12-year stint as the mayor of New York City and an unsuccessful presidential campaign, Bloomberg cofounded Bloomberg LP in 1981. Bloomberg is a media company and a financial firm with revenues of $13 billion.

    Residence: New York

    NORTH CAROLINA: James Goodnight
    Businessman James Howard Goodnight attends the Cocktails To Celebrate The Fortune 100 Best Companies To Work For on March 8, 2016 in New York City.
    James Goodnight.

    Net worth: $10.1 billion

    Age: 81

    Source of wealth: Goodnight and his colleague John Sall (also a billionaire) cofounded a private school, Cary Academy, and also co-own a hotel and country club. But their biggest business venture together is the software company SAS, founded in 1976. It made over $3 billion in 2022, according to Forbes.

    Residence: Cary

    NORTH DAKOTA: Gary Tharaldson
    super 8 motel
    Super 8.

    Net worth: $1.2 billion

    Age: 78

    Source of wealth: Tharaldson, the only billionaire in North Dakota, got his start in 1982 when Tharaldson Hospitality purchased a Super 8 Motel. It then became a huge hospitality group and one of America's largest developers of new hotels.

    Residence: Fargo

    OHIO: Les Wexner and family
    Les Wexner
    Les Wexner.

    Net worth: $6 billion

    Age: 86

    Source of wealth: Wexner opened The Limited in Ohio in the 1960s. He then founded a retail empire that, at one point, owned brands like Abercrombie & Fitch, The Limited Too, Express, and Victoria's Secret. Now Wexner's company has been renamed Bath & Body Works Inc., and solely owns the chain of the same name.

    Residence: New Albany

    OKLAHOMA: Harold Hamm and family
    Harold Hamm speaking at the 2023 Concordia Annual Summit in 2023.
    Harold Hamm.

    Net worth: $18.5 billion

    Age: 78

    Source of wealth: Hamm founded the Shelly Dean Oil Company, now known as Continental Resources, in 1967 when he was only 21. It's now one of the largest oil companies in the US, thanks in part to Hamm's revolutionary decision to use horizontal drilling and hydraulic fracturing in the Bakken region of North Dakota in the '90s. The company went public in 2007, but in 2022, Hamm and his five children took the company private again in a deal worth $27 billion.

    Residence: Oklahoma City

    OREGON: Phil Knight and family
    Phil Knight at the Fiesta Bowl on January 1, 2024.
    Phil Knight.

    Net worth: $40.9 billion

    Age: 86

    Source of wealth: One word: Nike. Knight cofounded the iconic brand in 1964 alongside Bill Bowerman. Although Knight retired in 2016, he and his family still own 20% of the company, which, in 2023, earned $51 billion in fiscal revenue, per Forbes.

    Residence: Hillsboro

    PENNSYLVANIA: Jeff Yass
    Haverford College duck pond.
    Haverford College duck pond.

    Net worth: $27.6 billion

    Age: 65

    Source of wealth: After spending time as a pro gambler and trader on the Philadelphia Stock Exchange, Yass cofounded Susquehanna International Group in 1987. The successful Wall Street trading firm has a 15% stake in ByteDance, TikTok's parent company. NBC reported that Yass also has a personal share (7%) of ByteDance worth about $21 billion.

    Residence: Haverford

    RHODE ISLAND: Jonathan Nelson
    Providence, Rhode Island.
    Providence, Rhode Island.

    Net worth: $3.4 billion

    Age: 68

    Source of wealth: In 1989, Nelson founded and led the private equity firm Providence Equity Partners. He was CEO until January 2021 and is now its executive chairman. The firm has invested in over 170 companies, including Hulu, Warner Media Group, and Yankees Entertainment and Sports Network (YES).

    Residence: Providence

    SOUTH CAROLINA: Robert Faith
    Greystar Real Estate Partners.
    Greystar Real Estate Partners.

    Net worth: $5.8 billion

    Age: 60

    Source of wealth: Robert "Bob" Faith founded Greystar, a global real estate firm, in 1993 and continues to serve as chairman and CEO. Throughout his career, Faith grew Greystar from 9,000 units in the US to more than 850,000 units across five continents, worth more than $290 billion, the company reported in an April press release. The company also has an investment management platform with $34 billion in assets under development.

    Residence: Charleston

    SOUTH DAKOTA: T. Denny Sanford
    University of Minnesota alum T. Denny Sanford donated $35 million to the school for a new football stadium in 2003.
    T. Denny Sanford.

    Net worth: $2.1 billion

    Age: 88

    Source of wealth: The University of Minnesota alum made his fortune as the owner of First Premier Bank. Despite having just 17 branches across South Dakota, the bank is one of the largest issuers of Mastercards, in part because it specializes in offering credit cards to those with low credit scores. Often, the cards have low limits and high interest rates.

    Residence: Sioux Falls

    TENNESSEE: Thomas Frist Jr. and family
    Nashville.
    Nashville.

    Net worth: $26.2 billion

    Age: 85

    Source of wealth: Frist Jr. cofounded Hospital Corp. of America with his father in 1968. According to its website, the for-profit healthcare company is responsible for 186 hospitals and over 2,400 care sites (like urgent care centers, surgery clinics, and physician clinics) across the US and UK. He and his family own over 20% of the company, and his sons, Thomas Frist III and William Frist, are board members.

    Residence: Nashville

    TEXAS: Elon Musk
    Elon Musk attends the 10th Annual Breakthrough Prize Ceremony in April 2024.
    Elon Musk.

    Net worth: $195 billion

    Age: 52

    Source of wealth: Elon Musk and Jeff Bezos are in a continuous battle for the title of richest person in the US. Musk is cofounder of tech giants Tesla and SpaceX, neurotechnology startup Neuralink, and tunneling company The Boring Company. He also helped found OpenAI, but he left in 2018 and announced his own AI endeavor, xAI, in 2023. He also owns an estimated 74% of social media platform X, formerly known as Twitter.

    Residence: Austin

    UTAH: Gail Miller
    Gail Miller speaks to the crowd before a game between the Utah Jazz and the Minnesota Timberwolves in 2019.
    Gail Miller.

    Net worth: $3.9 billion

    Age: 80

    Source of wealth: Miller owns the Larry H. Miller Company, which she founded with her husband, Larry H. Miller, in 1979 after purchasing their first Toyota dealership. The LHM Company's car dealership business became the eighth-largest in the US, and she sold it for $3.2 billion in 2021, Forbes reported. (Larry H. Miller died in 2009.) LHM's portfolio also includes companies in real estate, entertainment, sports, and insurance, among others. In 2020, after more than 30 years of owning the Utah Jazz, Miller sold the team and their home arena for $1.66 billion.

    Residence: Salt Lake City

    VERMONT: John Abele
    Boston Scientific advertisement in 2024.
    Boston Scientific advertisement.

    Net worth: $1.9 billion

    Age: 87

    Source of wealth: In 1979, Abele cofounded Boston Scientific, a medical device manufacturer, alongside Peter Nicholas. Boston Scientific focuses on developing more accessible medical technologies, and its products include pacemakers, defibrillators, and stents.

    Residence: Shelburne

    VIRGINIA: Jacqueline Mars
    Jacqueline Mars (L) and Anne Chao (R) attend the ArtSense Gala 2023.
    Jacqueline Mars.

    Net worth: $38.5 billion

    Age: 84

    Source of wealth: As the granddaughter of Mars Incorporated founder Frank C. Mars, Jacqueline owns an estimated one-third of the legendary candy, food, and pet-care company responsible for treats like Snickers, Juicy Fruit, and Milky Way. (Her brother owns another third and is the richest person in Wyoming, per Forbes.) She served on the board of directors until 2016, having spent nearly 20 years with the company.

    Residence: The Plains

    WASHINGTON: Bill Gates
    Bill Gates at The New York Times Climate Forward Summit in 2023.
    Bill Gates.

    Net worth: $128 billion

    Age: 68

    Source of wealth: Bill Gates is best known as the cofounder of the software company Microsoft. However, he also has an impressive investment portfolio, including companies like Carbon Engineering, EarthNow, Deere & Co., and Republic Services. As of March 2020, Gates owns about 1.3% of Microsoft, which is worth trillions.

    Residence: Medina

    WEST VIRGINIA: Brad Smith
    Brad Smith, CEO of Intuit
    Brad Smith.

    Net worth: $900 million

    Age: 60

    Source of wealth: During Smith's time as CEO and then executive chairman of the finance and business software company Intuit, the company's revenue almost doubled, Forbes reported. The success came after Intuit revamped its desktop software into a digital cloud-based platform. Now the president of Marshall University, he also chairs Nordstrom's board of directors and sits on the boards of Amazon and SurveyMonkey.

    Residence: Huntington

    WISCONSIN: John Menard Jr.
    John Menard Jr.
    John Menard Jr.

    Net worth: $25.2 billion

    Age: 84

    Source of wealth: Menard Jr. founded Menards, the third-largest home-improvement chain in the US behind Home Depot and Lowe's. With over 300 locations across 15 Midwestern states, the company earned $13.4 billion in 2023.

    Residence: Eau Claire

    WYOMING: John Mars
    John Mars receives an honorary knighthood from Queen Elizabeth
    John Mars.

    Net worth: $38.5 billion

    Age: 88

    Source of wealth: Mars — whose sister is Jacqueline Mars, Virginia's richest person — is another heir of the Mars family fortune amassed from candy products such as Snickers, Mars Bars, and M&M's, as well as Pedigree pet food and Uncle Ben's rice. He owns a third of the $45 billion business.

    Residence: Jackson

    Read the original article on Business Insider
  • Why giant oak barrels are key to making some of the world’s most expensive wine

    Luxury winemakers producing some of the most expensive wine in the world will pay up to $50,000 for a single barrel to age their wine. But not just any barrel — a foudre. A foudre is a massive wooden vat that impacts and preserves the overall taste of the wine. Making a foudre starts with French oak, a tightly grained wood that adds unique flavoring to the wine. Cooperages like Foudrerie François pay close attention to the quality of the wood they source to make the foudres they sell and ship worldwide. The wood is so precious — and so expensive — that the French government heavily regulates its sales through annual auctions of oak forest plots.

    Read the original article on Business Insider
  • Severe turbulence launches passengers to the ceiling of Singapore Airline flight

    A passenger died and 30 other people were injured on a Singapore Airlines flight when the plane hit severe turbulence, prompting an emergency landing in Bangkok.

    Read the original article on Business Insider