• Shares vs. property: Which delivered the best growth in FY24?

    Two people comparing and analysing material.

    When we compare the capital growth of ASX 200 shares vs. property in FY24, bricks and mortar comes out on top… but only just.

    The S&P/ASX 200 Index (ASX: XJO) rose from a closing value of 7,203.3 points on the last trading day of FY23 to a closing value of 7,767.5 points on the last trading day of FY24, delivering a 7.83% gain.

    Meantime, the national median home value, which reflects all types of property in a single data point, rose by 8% over the 12 months, according to CoreLogic data.

    In dollar terms, that’s equivalent to a $59,000 increase per home across Australia over the financial year.

    The national median house price rose by 8.4%, and the median apartment price lifted by 6.5% over FY24.

    If we drill down to look at the capital gains across all eight of the capital cities and their regional counterparts, we see significant disparities.

    The most glaring is the outstanding strength of Perth, Brisbane, and Adelaide and the regional markets of those states, compared to the weak performance of Melbourne, Hobart, and their regional counterparts.

    A key factor in their performance variance is that the strongest markets have tight supply and demand, while the weakest markets have the opposite situation.

    We’ll also take a look at the top 10 performing ASX 200 shares for the financial year. As usual, not even the strongest property markets grew by as much as those top-performing stocks!

    Why are home values rising when interest rates are high?

    It’s unusual to see home values rising when interest rates are doing the same.

    It’s even more surprising given the 13 rate rises imposed by the Reserve Bank between May 2022 and November 2023 represented the fastest and largest rate hiking cycle in Australia’s history.

    However, the housing shortage has become so acute in this country that its impact is actually trumping interest rates in the marketplace.

    Demand is so strong, and the number of homes for sale is so low in those strongest markets that prices are continuing to rise despite high interest rates making affordability worse.

    How shares vs. property performed in FY24

    Here we compare the capital growth rate for houses in each city and regional property market in FY24.

    Property market Capital growth of houses in FY24
    Perth 23.7%
    Regional Western Australia 16.9%
    Brisbane 15.2%
    Adelaide 15.1%
    Regional Queensland 12.3%
    Regional South Australia 11.4%
    National 8.4%
    Sydney 6.8%
    Regional New South Wales 4%
    Canberra 3.2%
    Darwin 3.1%
    Melbourne 1.2%
    Regional Tasmania 0.2%
    Hobart (0.3%)
    Regional Victoria (0.4%)
    Regional Northern Territory (2.9%)
    Source: CoreLogic

    Best performing ASX 200 shares of FY24

    Here we compare the capital growth of the top 10 ASX 200 shares in FY24.

    ASX 200 shares Capital growth in FY24
    Pro Medicus Limited (ASX: PME) 118.3%
    Life360 Inc (ASX: 360) 115.4%
    Red 5 Limited (ASX: RED) 89.5%
    West African Resources Ltd (ASX: WAF) 86.1%
    Altium Ltd (ASX: ALU) 84.3%
    Hub24 Ltd (ASX: HUB) 82.9%
    Deep Yellow Limited (ASX: DYL) 77.5%
    SiteMinder Ltd (ASX: SDR) 74.3%
    Neuren Pharmaceuticals Ltd (ASX: NEU) 73.6%
    Goodman Group (ASX: GMG) 73.1%
    Source: S&P Global Market Intelligence

    The post Shares vs. property: Which delivered the best growth in FY24? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Life360 right now?

    Before you buy Life360 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 Life360 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 24 June 2024

    More reading

    Motley Fool contributor Bronwyn Allen has positions in Goodman Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Goodman Group, Hub24, Life360, Pro Medicus, and SiteMinder. The Motley Fool Australia has positions in and has recommended SiteMinder. The Motley Fool Australia has recommended Goodman Group, Hub24, and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • The rise of Marc Benioff, the CEO of Salesforce and owner of Time Magazine

    marc benioff segway salesforce 2003
    Salesforce CEO Marc Benioff rides a Segway around one of Salesforce's earliest office spaces.

    • Marc Benioff is the chief executive of cloud-based software company Salesforce.
    • Benioff worked at Oracle for 13 years before leaving the company to work on Salesforce full time.
    • Benioff has a net worth of about $10 billion, Bloomberg estimates.

    Marc Benioff has seen his company, Salesforce, through many ups and downs throughout its 25 years.

    The cloud software giant's market cap has swelled to over $250 billion in 2024 and even briefly crossed the $300 billion mark. But it hasn't been immune to the struggles facing the tech industry in recent years. Salesforce announced in January that it would be cutting 700 more jobs after slashing thousands in 2023.

    On July 2, Salesforce shareholders voted against a proposed compensation plan that would keep Benioff's base pay the same but bump his total to $39.6 million, up from $29.9 million in 2023.

    Benioff has outlasted multiple co-CEOs at Salesforce — including one who reportedly tried to go for the top job. He and his wife Lynne are known for donating millions to charity.

    Here's how Benioff, whose estimated net worth now stands around $10 billion, worked his way onto the national stage.

    Marc Russell Benioff, 59, was born in San Francisco on September 25th, 1964, the son of Joelle and Russell Benioff.
    San Francisco
    An image of San Francisco.

    Benioff is something of an anomaly among Silicon Valley CEOs — he was actually born and raised in the San Francisco Bay Area. He graduated from Burlingame High School in 1982, Bloomberg reported.

    His father, Russell Benioff, owned a local department store in San Francisco. "I learned my work ethic from him," Benioff once said, according to SFGate.

    Early on, Benioff was interested in tech and being an entrepreneur.
    Salesforce CEO Marc Benioff.
    Benioff held numerous jobs and side hustles.

    Benioff got his first job at a jewelry store to save for his first computer. He was eventually fired for cleaning the floors with the wrong soap. While in high school, Benioff sold his software — "How To Juggle" for the TRS-80 Model 1 computer — to a computer magazine for $75.

    At age 15, Benioff founded Liberty Software, a one-man company making games for the Atari 800 computer. Titles included "King Arthur's Heir," "The Nightmare," "Escape from Vulcan's Isle," and "Crypt of the Undead," Entrepreneur reported.

    By age 16, Benioff was pulling in $1,500 a month — enough that he was able to pay for his own tuition at the University of Southern California.

    While at USC, Benioff took a summer internship with Apple.
    Steve Jobs
    Apple cofounder Steve Jobs at the debut of the original Apple Macintosh.

    He worked as a programmer in the Macintosh division under cofounder Steve Jobs. "That summer, I discovered it was possible for an entrepreneur to encourage revolutionary ideas," Benioff would later write in his book "Behind the Cloud: The Untold Story of How Salesforce.com Went from Idea to Billion-dollar Company — and Revolutionized an Industry."

    Jobs became one of Benioff's mentors. "There would be no Salesforce.com without Steve Jobs," Benioff said in 2013, according to Entrepreneur.

    Benioff graduated with a B.S. in Business Administration in 1986.
    marc benioff
    Benioff delivering the keynote address during commencement at the University of California, Berkeley in 2015.

    USC named him an honorary Doctor of Humane Letters in 2014. He now sits on the University's Board of Trustees.

    Benioff planned to stay in programming for the rest of his career, but a USC professor suggested he might have a mind for business. So he took a customer support role at high-flying database company Oracle right out of college, according to his "Behind the Cloud" book.

    Benioff rapidly rose up the ranks at Oracle after starting in 1986.
    Oracle
    Benioff had a meteoric rise at Oracle.

    At age 23, Benioff was named Oracle's "Rookie of the Year."

    By age 26, he was named a vice president — the youngest person to attain the role in the company's history, according to his bio on Salesforce.

    While at Oracle, Benioff caught the attention of its founder Larry Ellison. The two became very close, with Ellison mentoring the younger Benioff.
    Benioff Salesforce Ellison Oracle
    Benioff (left) and Larry Ellison (right).

    "They sailed to the Mediterranean on Ellison's yacht, visited Japan during cherry blossom season, spent Thanksgiving together, and even double-dated," according to Fortune.

     

    After 13 years with Oracle, Benioff started itching for something new.
    Salesforce Marc Benioff
    Benioff worked at Oracle from 1986 to 1999.

    With Ellison's permission, Benioff took a sabbatical to travel the world. He spent part of that time studying meditation in Hawaii.

    Benioff came up with the idea for Salesforce while swimming with dolphins. He soon started working on the company with a few other Oracle veterans, Entrepreneur reported.

    Salesforce was a revolutionary idea in 1999.
    Marc Benioff
    Salesforce took the tech industry by storm when it launched.

    The big idea behind Salesforce was that while most companies — including Oracle — sold enterprise software that companies had to install on their own servers, Salesforce could let people access business software from a web browser. For the late nineties, this was revolutionary, Benioff wrote in "Behind the Cloud."

    At first, Ellison was supportive of Benioff.
    larry ellison
    Ellison and Benioff's relationship has fluctuated over the years.

    Ellison even gave Salesforce $2 million in funding from his own pocket to get it started and sat on its board of directors.

    But things turned sour between Ellison and Benioff.
    AP_01072502966
    Benioff with an early Salesforce ad.

    Benioff found out that Oracle was working on a direct competitor to Salesforce, the Mercury News reported in 2000. Benioff tried to force his mentor to quit the company's board. Instead, Ellison forced Benioff to fire him — meaning Ellison kept his shares in Salesforce. 

    It kicked off an epic rivalry, with the two taking shots at each other in the press. Note the Salesforce jet shooting down the Oracle biplane in this early Salesforce ad from 2001.

    The dot-com bust of the early 2000s was a difficult time for Salesforce, but the company rebounded.
    Marc Benioff
    Salesforce survived the dot-com bust when others didn't.

    "Suddenly everything around us was falling apart," Benioff's cofounder Parker Harris said, according to the Australian Financial Review. However, several clients remained, and Salesforce survived and kept growing, becoming one of the earliest and biggest companies in the modern cloud computing market.

     

    And in June 2004, Salesforce held its IPO, raising $110 million at $11 per share.
    marc benioff 2005 NYSE
    Benioff on the day of the Salesforce IPO.

    That year, the company had about 767 employees.

    Benioff personally donated $250 million to the University of California, San Francisco in 2010 to found UCSF Benioff Children's Hospitals.
    ucsf benioff childrens hospital
    Benioff and his wife Lynne have donated hundreds of millions over the years.

    In 2016, Benioff fought against proposed bills in Indiana and Georgia that would allow discrimination against gay people. He rallied other business leaders to the cause, with a positive result, according to Time.

    Benioff is also a big believer in corporate philanthropy.
    ed lee, mayor san francisco, sv100 2015
    San Francisco Mayor Ed Lee in 2011.

    Under his leadership, Salesforce invented the "1-1-1" model, where the company gives 1% of employee time as volunteer hours, 1% of its profits, and 1% of its resources to charitable causes.

    San Francisco Mayor Ed Lee declared March 7 "Global 1/1/1 Day" in honor of Salesforce's 15th birthday in 2014. Benioff keeps a copy of the proclamation in his office, Forbes reported.

    Benioff's philanthropic efforts focus on children's health, the environment, public education, and homelessness, according to his biography on Salesforce's website.

    In 2016, Benioff and his wife launched the Benioff Ocean Initiative at the University of California, Santa Barbara to study marine life.
    Marc and Lynne Benioff
    Benioff and his wife Lynne.

    Benioff also serves on the World Economic Forum's Board of Trustees. He credits former Secretary of State Colin Powell and the Hindu guru Mata Amritanandamayi — whom he met on a trip through India — with encouraging him to put Salesforce's resources to work helping others.

    And while he may not have the globetrotting playboy reputation that his mentor Ellison has, Benioff has lots of friends in the celebrity and political worlds.

    Benioff has earned a reputation as one of Silicon Valley's most boisterous CEOs. He rarely appears in public without his custom cloud sneakers.
    benioff salesforce cloud shoes
    Benioff's sneakers.

    Over the years, Benioff has spent some of his billions on "Star Wars" desk trinkets, according to Forbes, and an extensive tech-themed shoe collection

    The Benioffs have several homes and acres of Hawaiian land that they've donated.
    Cattle grazing in Hawaii field
    Waimea is home to many native Hawaiians and known for its ranching.

    Over the past few years, Benioff has bought up land in an agricultural and largely native Hawaiian town called Waimea. He lives in a beachside mansion nearby. Since 2000, Benioff has bought at least 38 parcels of land in Hawaii through various LLCs and a nonprofit, NPR reported in 2024.

    In 2023, Benioff and his wife gave 282 acres of land near Waimea to the Hawaii Island Community Development Corporation along with $7 million for affordable housing.

    "This is a place that everybody loves to be. It's a magical place. It's a place that people come and transform and change, evolve. They experience God. They experience nature. They experience themselves," Benioff said about Hawaii, according to NPR.

    Salesforce has swelled to a company worth more than $250 billion, and its annual Dreamforce conference has ballooned to take over much of San Francisco every autumn.
    Salesforce CEO Marc Benioff at Dreamforce 2013
    Salesforce's annual Dreamforce conference is a massive event.

    It's described as a global four-day event hosting official sessions and unofficial meetings between key players in the tech industry. Dreamforce also has a reputation for being big on social events, with acts like Metallica and Foo Fighters headlining its afterparties

    The company opened Salesforce Tower, its new headquarters — and the tallest building in San Francisco — in 2018.
    Salesforce Tower
    Salesforce Tower.

    Salesforce had gotten so big that in 2012, the company abandoned plans to move into a new San Francisco campus because it said it had already outgrown it. It had 9,800 employees globally that year.

    Marc Benioff is distantly related to David Benioff of "Game of Thrones" fame.
    David Benioff
    David Benioff is the co-creator of "Game of Thrones."

    The pair share a great-grandfather, but they never met until 2015 when "Game of Thrones" premiered. David is the co-creator of the hit HBO adaption of the fantasy book series written by George R. R. Martin.

     

    Over the last five years, Salesforce has appointed, and lost, two co-CEOs.
    Salesforce Keith Block
    Former Salesforce co-CEO Keith Block.

    Salesforce announced in 2020 that Benioff's co-CEO, Keith Block, stepped down after a year and a half. Block did not give a reason for the transition at the time but said he was excited for the future.

    In 2021, Bret Taylor — who had been with the company since 2016 — was appointed to the role. Taylor announced his resignation in 2022 after a reported showdown for the sole CEO position.

    In 2018, Benioff and his wife announced that they intended to purchase Time Magazine for $190 million.
    marc benioff
    Benioff implemented Salesforce strategies at Time.

    When the acquisition went through, insiders at the company expressed their excitement for the future. Time was reportedly able to go on a hiring spree after being purchased by the Benioffs.

     

    Salesforce acquired Slack in 2021.
    New Slack redesign
    The new Slack redesign with "Activity" notifications.

    The acquisition of the messaging platform cost about $27.7 billion. After just over a year as CEO, Lidiane Jones left Slack for the top job at dating app Bumble. In November 2023, Salesforce exec Denise Dresser was named the CEO of Slack.

    Salesforce wasn't immune to the job cuts that plagued the tech industry in 2023 and 2024.
    Salesforce offices.
    Salesforce laid off about 7,000 employees in 2023.

    Salesforce kicked off 2024 by cutting about 1% of its global workforce after laying off roughly 7,000 in 2023. Benioff blamed the cuts on over-hiring during the pandemic.

    He's neighbors with OpenAI CEO Sam Altman.
    OpenAI CEO Sam Altman; Salesforce CEO Marc Benioff
    Sam Altman (R) is the CEO and cofounder of OpenAI.

    Slack began integrating ChatGPT — the generative AI chatbot made by OpenAI — in 2023. 

    During a June earnings call, Benioff said that he and Sam Altman are neighbors who've had dinner at least once to discuss artificial intelligence.

    He and his wife donated $150 million to Hawaii hospitals in March 2024.
    Honolulu
    The couple have donated hundreds of millions to Hawaii hospitals.

    In a press release, the couple expressed their intentions to give back to the local community through experts who "deeply understand" local needs.

    "We feel fortunate to have been part of the Hawaii community for many decades and to be able to support our ohana in this way. Nothing is more important than the health of our community and access to care for all who need it."

    The Benioffs donated $50 million to Hilo Medical Center and $100 million to Hawaii Pacific Health in March, according to Spectrum News.

    Benioff's total compensation for fiscal 2024 was $39.6 million.
    Marc Benioff
    Benioff has expressed support for higher taxes on the wealthy.

    Still, he has previously said he should pay more taxes.

    "Well get an economy that works for everyone when 1) create educational system that works for everyone & 2) Affordable Higher education & 3) strengthen our local K-12 public schools 4) We must focus online reskilling that brings everyone along & 5) higher ind & Crp taxes to pay for it," Benioff tweeted in June 2019.

    Salesforce shareholders voted against a proposed compensation plan for Benioff and other executives, according to a regulatory filing on July 1.
    Salesforce CEO and cofounder Marc Benioff
    Unlike other top bosses, Benioff didn't get a pay raise in 2024.

    About 53% of shareholders in July voted against a proposed plan to increase Benioff's equity, bringing his total compensation to $39.6 million from $29.9 million last year while keeping his base pay of $1.55 million the same.

    Shareholders were advised to vote against the plan by firms Glass Lewis and Institutional Shareholder Services. 

    They still voted to keep Benioff as chair instead of opting for an independent board chair.

    Read the original article on Business Insider
  • Jamie Foxx says his medical complication started with a ‘bad headache.’ Here’s everything we know about his condition.

    Jamie Foxx attends the Los Angeles Screening of "Below The Belt" at Directors Guild Of America on October 01, 2022 in Los Angeles, California.
    Jamie Foxx has recovered after being treated for an unknown medical condition in April 2023.

    • On April 11, 2023, Jamie Foxx experienced a "medical complication" that began with a "bad headache."
    • Foxx said he was "gone for 20 days" and has since recovered from his unknown medical condition.
    • Here's everything we know about Foxx's health and what those close to him have said about it.
    Jamie Foxx "experienced a medical complication" on April 11, 2023, according to a family statement posted the following day on his daughter Corinne Foxx's Instagram account.
    orinne Foxx and Jamie Foxx at the Directors Guild Of America in October 2022 in Los Angeles, California.
    Corinne Foxx and Jamie Foxx at the Directors Guild Of America in October 2022 in Los Angeles, California.

    "We wanted to share that my father, Jamie Foxx, experienced a medical complication yesterday," Corinne Foxx shared on her Instagram account on behalf of the Foxx family.

    "Luckily, due to quick action and great care, he is already on his way to recovery. We know how beloved he is and appreciate your prayers," the statement continued. "The family asks for privacy during this time."

    The family did not share details about what caused the health issue at the time.

    According to CNN, the actor was in Atlanta filming his new Netflix movie, "Back in Action," with Cameron Diaz and Glenn Close when he was taken to hospital, although he was not on set at the time.

    In the following days, many of Foxx's friends shared words of encouragement to the actor and prayed for his speedy recovery.
    Jamie Foxx attends the "Creed III" European Premiere at Cineworld Leicester Square on February 15, 2023 in London, England.
    Jamie Foxx attends the "Creed III" European Premiere at Cineworld Leicester Square on February 15, 2023, in London, England.

    Two days after the news of his hospitalization broke, Kerry Washington shared a throwback photo of herself and Foxx on Instagram, captioning it: "A @iamjamiefoxx appreciation post."

    "Sending you all the love and prayers my movie huzbin," she continued, followed by a string of praying hand and heart emojis.

    Washington and Foxx played husband and wife in "Django Unchained" (2012) and the Ray Charles biopic "Ray" (2004), the latter of which earned the actor an Academy Award.

    Meanwhile, LeBron James posted to X (formerly known as Twitter): "Sending my thoughts and prayers to the heavens above to my brother @iamjamiefoxx!!!! Get well and back to yourself SOONER THAN LATER! God willing."

    Jennifer Hudson also sent well wishes to her "Dreamgirls" costar, writing on Instagram: "Lifting my friend @iamjamiefoxx and the Foxx family up in prayer ! We pray for healing in Jesus' name! Sending u all the love in the world, Jamie !!!"

    On April 17, it was reported that Foxx was still under medical observation, a week after being hospitalized.
    Jamie Foxx attends the Los Angeles Screening of "Below The Belt" at Directors Guild Of America on October 01, 2022 in Los Angeles, California.
    It was reported that Jamie Foxx was still receiving medical care at the Georgia medical facility on April 17.

    According to both CNN and People, the "Day Shift" actor was still receiving medical care at the Georgia medical facility.

    "They are running tests and still trying to figure out what exactly happened," a source told CNN at the time.

    On the same date, People also reported that Foxx's costar and close friend Diaz made her return to the set of the movie they had been filming, working with a body double for Foxx.

    On April 20, Tracy Morgan and Martin Lawrence spoke about Foxx's health, with the latter noting that he was "doing better."
    Martin Lawrence and Tracy Morgan both sent their love to their recovering friend.
    Martin Lawrence and Tracy Morgan both sent their love to their recovering friend on April 20.

    Morgan and Harvey wished Foxx well while attending Lawrence's Hollywood Walk of Fame ceremony on April 20.

    "I love Jamie. Jamie's a good friend of mine … my prayers go up for Jamie," Morgan told Entertainment Tonight

    "He's strong, he's a fighter, he's gonna come out of it and he's good. He's gonna be stronger and better than ever," he said.

    Referring to his 2014 accident which left him with life-threatening injuries, Morgan added: "I've been there. I was on the other side in a coma for 10 days, so I know about [being hospitalized]."

    "I just want Jamie to please get strong," the "30 Rock" actor added. "Jamie, I love you. My prayers go out to you and your family. Please get well."

    Meanwhile, Lawrence told Extra: "I hear he's doing better… My prayers go out for him every night and just wishing the best for him, one of the best that we got in Hollywood," 

     

     

    On April 23, Nick Cannon said that Foxx was "awake" and "alert" 12 days after being hospitalized.
    Nick Cannon and Jamie Foxx at the Celebrity Golf Tournament during DJ Irie Weekend at Miami Beach Golf Club on June 20, 2014 in Miami Beach, Florida
    Nick Cannon and Jamie Foxx at the Celebrity Golf Tournament during DJ Irie Weekend at Miami Beach Golf Club on June 20, 2014, in Miami Beach, Florida.

    Speaking to Entertainment Tonight, Cannon said that he has been saying "words of affirmation for my big brother" and teased the news that he would be standing in for Foxx as guest host on the upcoming season of game show "Beat Shazam."

    He said: "I know he's doing so much better because I'm actually about to do something special for him, and doing him a favor. I can't really say what it is, but it'll be out there soon."

    Speaking about Foxx's health, he added: "He's awake. They say he's alert, so, we love it. That's family right there."

    On May 3, Kevin Hart said that there has been "a lot of progression" with Foxx's recovery.
    Kevin Hart and Jamie Foxx at the 13th Annual Harold And Carole Pump Foundation Gala in 2013.
    Kevin Hart and Jamie Foxx at the 13th Annual Harold And Carole Pump Foundation Gala in 2013.

    Appearing on the podcast "Impaulsive with Logan Paul" on May 3, the comedian shared what he knew about Foxx's medical condition and recovery.

    Although Hart noted that Foxx has "always been a private person to a certain degree," he said he was "fortunate" to be able to have a good relationship with the actor and has checked in on him in the past few weeks.

    "I think the dope thing is that he's getting better in his situation, and everybody's prayers, everybody's love, energy, all that stuff is seen and felt," Hart told hosts Logan Paul and Mike Majlak.

    "I don't know the details the exact details as to what's going on, but to my knowledge, there's a lot of progression and a world of better," he added. 

     

    Later the same day, Foxx spoke out for the first time since his hospitalization in a brief Instagram post.
    Jamie Foxx at the 2023 Miami Open at Hard Rock Stadium in Miami Gardens, Florida, on March 30, 2023
    Jamie Foxx at the 2023 Miami Open at Hard Rock Stadium in Miami Gardens, Florida, on March 30, 2023

    "Appreciate all the love!!! Feeling blessed," he wrote, followed by a praying hands emoji, red heart emoji, and fox emoji.

    Many of his friends extended their well wishes to him in the comments.

    Jeremy Renner wrote: "Sending you strength and love," while Kate Beckinsale added: "Love you sir massive hugs king xxxx"

    Ansel Elgort, who appeared in "Baby Driver" with Foxx, wrote: "You are the greatest Jamie, please make a speedy recovery. You are a blessing to this world, we need you in it."

    Foxx also gave a shout-out to Nick Cannon for filling in on his hosting duties for the upcoming season of "Beat Shazam" in an Instagram Story.

    "Appreciate ya my boy @nickcannon. See u all soon," he wrote over the Fox show's statement about the change of lineup for the new season, which returned to screens on May 23.

    On May 12, Foxx's daughter said he was out of the hospital and recuperating after seeing false rumors about his condition.
    Foxx's daughter dismissed reports about her father's health worsening on Instagram.
    Foxx's daughter dismissed reports about her father's health worsening on Instagram.

    Just over a month after news of his hospitalization, Foxx's daughter announced that the actor was out of the hospital after unsubstantiated reports that the family was "preparing for the worst" began circulating online.

    According to her Instagram Story, her father was discharged several weeks ago.

    "Update from family: Sad to see how the media runs wild," she wrote.

    "My Dad has been out of the hospital for weeks, recuperating. In fact, he was playing pickleball yesterday! Thanks for everyone's prayers and support! We have an exciting work announcement coming next week too!" 

     

     

    Just a few days later, it was announced that Foxx would be returning to TV.
    Jamie Foxx and daughter Corrine Foxx in a promotional photo for upcoming musical game show “We Are Family.”
    Jamie Foxx and daughter Corrine Foxx in a promotional photo for upcoming musical game show “We Are Family.”

    The duo, who will be sitting out the upcoming season of "Beat Shazam" as previously mentioned, are set to cohost a new music game show called "We Are Family," also for Fox and scheduled to premiere in 2024.

     

     

    In June, John Boyega, who stars alongside Foxx in the film "They Cloned Tyrone," said that the actor was "doing well."
    Teyonah Parris as Yo-Yo, Jamie Foxx as Slick Charles, and John Boyega as Fontaine in "They Cloned Tyrone."
    Teyonah Parris as Yo-Yo, Jamie Foxx as Slick Charles, and John Boyega as Fontaine in "They Cloned Tyrone."

    "He finally picked up the phone. Thank you, bro," Boyega told People at the premiere of the movie. "He's doing well. And then, you know, we just giving him the privacy, and we can't wait for his return."

    "I gave him the well wishes directly," Boyega added. "I gave him all the well wishes. So I'm just gonna be waiting until he comes back out here. So take your time, Jamie. We love you, bro."

    "They Cloned Tyrone" coproducer Datari Turner shared similar comments about Foxx.

    "He's in really, really good shape and spirits.," Turner said. "And he'll be back on the screen. He'll be back to work very soon."

    Weeks later, Foxx was seen in public for the first time since his undisclosed medical condition.
    Jamie Foxx seen in Los Angeles on November 7, 2023.
    Jamie Foxx seen in Los Angeles on November 7, 2023.

    In a video obtained by TMZ, Foxx was in good spirits as he waved to fans while on a yacht in Chicago.

    "Boat life," he later posted on X, followed by a mention of his whiskey brand. "Celebrating summer with @brownsugarbbn Stay blessed!"

     

    On July 22, 2023, Foxx posted a video thanking his family and fans for their support.
    Jamie Foxx at a special screening of "The Burial" on December 17, 2023 in Los Angeles, California.
    Jamie Foxx at a special screening of "The Burial" on December 17, 2023, in Los Angeles.

    "First of all, I want to say thank you to everybody that's prayed, man, and sent me messages. I cannot even begin to tell you how far it took me and how it brought me back," Foxx said in a video posted on Instagram. "I went through something that I thought I would never ever go through."

    Foxx said that he was aware that people wanted updates, but he didn't want fans to see him during his medical complication.

    "I didn't want you to see me with tubes running out of me and trying to figure out if I was going to make it through," he said. "And to be honest with you, my sister, Deidra Dixon, and my daughter, Corinne Marie, saved my life. So to them, to God, to a lot of great medical people, I'm able to leave you this video."

    Foxx said that his family protected him and kept his situation under wraps, which led to speculation and false rumors. 

    "I went to hell and back. And my road to recovery had some potholes as well," he said. "But I'm coming back and I'm able to work. So I want to thank the people who let me work. I just want to say that I love everybody and I love all the love that I got."

    On December 4, Foxx attended the Critics Choice Association's "Celebration" event, honoring Black, Latino, and AAPI achievements.
    Jamie Foxx accepts the Vanguard Award onstage during the Critics Choice Association's "Celebration" event in Los Angeles, California on December 4, 2023.
    Jamie Foxx accepting the Vanguard Award onstage during the Critics Choice Association's "Celebration" event on December 4, 2023.

    Foxx was presented with the Vanguard Award for his performance in the 2023 film "The Burial," which was inspired by true events.

    The actor began his speech by telling the audience that he couldn't walk six months prior. 

    "I wouldn't wish what I went through on my worst enemy, because it's tough," he said. 

    Since his experience, Foxx said that he has a "new respect" for life and his art.

    "I watched so many movies and listened to so many songs trying to have the time go by," Foxx said. "Don't give up on your art, man, don't give up."

    On March 3, 2024, Foxx accepted the producers award at the African American Film Critics Association's (AAFCA) Special Achievement Awards luncheon.
    Jamie Foxx at the AAFCA Special Achievement Awards luncheon on Sunday, March 3, 2024, in Los Angeles.
    Jamie Foxx at the AAFCA Special Achievement Awards luncheon on Sunday, March 3, 2024, in Los Angeles.

    Foxx and his producing partner Datari Turner accepted the award on behalf of Foxxhole Productions. The actor's speech was filled with jokes and heartfelt sentiments reflecting on his career. He also referenced his health situation.  

    "Everybody wants to know what happened, and I'm going to tell you what happened. But I've gotta do it in my way," Foxx said. "I'm gonna do it in a funny way. We're gonna be on the stage. We're gonna get back to the standup sort of roots."

    In an undated video that surfaced on July 1 on X, Foxx gave an update on his health and said that his unknown condition began with a "bad headache."
    Jamie Foxx at the AAFCA Special Achievement Awards luncheon on Sunday, March 3, 2024, in Los Angeles.
    Jamie Foxx at the AAFCA Special Achievement Awards luncheon on Sunday, March 3, 2024, in Los Angeles.

    Foxx was seen talking to a small group of people in Phoenix, Arizona, in a brief undated video posted by an account called @ArtOfDialogue_ on X. 

    "Look, April 11th last year, bad headache," Fox said. "I asked my boy for an Advil."

    "I was gone for 20 days," he continued. "I don't remember anything."

    Foxx said that he was in Atlanta at the time and his sister and daughter took him to a doctor who gave him a cortisone shot. 

    "Next doctor said, 'There's something's going on up there," Foxx added, pointing to his head. "I won't say it on camera."

    Read the original article on Business Insider
  • Carrier strike group commander who oversaw ‘unprecedented’ Red Sea battle says the US Navy needs to make sure it’s ready for a drone fight

    A missile launches from a US Navy warship in the Red Sea in February.
    A missile launches from a US Navy warship in the Red Sea in February.

    • The US Navy has drawn many lessons from its monthslong counter-Houthi mission.
    • A former strike group commander who oversaw combat credited training for the warships' successes in battle.
    • But he said future deployments would benefit from more drone training.

    American warships have been battling dangerous and unprecedented threats in volatile Middle Eastern waters for months, and the experience has been a valuable lesson for the US Navy.

    The threat posed to commercial shipping in the Red Sea and Gulf of Aden by the Iran-backed Houthi rebels persists, showing no signs of letting up anytime soon. Thus, the US Navy's fight goes on.

    Among the lessons the sea service has learned from its engagements off Yemen is that the Navy needs more work on defeating drones, Rear Adm. Marc Miguez, a former carrier strike group commander who oversaw nearly the entirety of the Dwight D. Eisenhower Carrier Strike Group's twice-extended deployment, wrote this week.

    The strike group — which consists of the aircraft carrier Ike and several other warships — spent more than seven months intercepting Houthi missiles and drones and conducting preemptive strikes against the rebels in Yemen in defense of major shipping lanes before its recent departure.

    Components of the Dwight D. Eisenhower Carrier Group steam in formation with the Italian navy in the Red Sea on June 7.
    Components of the Dwight D. Eisenhower Carrier Group steam in formation with the Italian navy in the Red Sea on June 7.

    Reflecting on the counter-Houthi operations and offering some lessons for future Navy combat, Miguez said the Eisenhower carrier strike group's deployment to the Middle East "has been unprecedented in every sense of the word."

    "Our operations in the Red Sea have included a long list of 'firsts,' and while we are still learning and iterating, with every missile and unmanned system we engage and destroy, we are gaining important combat experience that will help inform future conflicts," Miguez wrote in commentary for the US Naval Institute.

    More drone training

    Miguez said there were several important attributes that helped support the Navy in its fight against what he described as "an unpredictable adversary." One of these elements was the intense training that the strike group received ahead of time.

    "Take it seriously," he wrote. "Different adversaries require different tactics. The IKE CSG trained to be agile, flexible, and lethal."

    An F/A-18E Super Hornet launches from the flight deck aboard the Nimitz-class aircraft carrier USS Dwight D. Eisenhower in the Red Sea on April 12.
    An F/A-18E Super Hornet launches from the flight deck aboard the USS Dwight D. Eisenhower in the Red Sea on April 12.

    "I attribute our success in the Red Sea to the pre-deployment training we received, especially the innovative approach to combat readiness," Miguez continued. However, he acknowledged that "future deployers would benefit from incorporating more unmanned (air, surface, underwater) scenarios in the training continuum."

    Along with missiles, the Houthis have consistently launched airborne drones throughout their campaign and have found recent success using surface drones, also known as drone boats, in their attacks. The rebels have tried, in a few instances, to deploy underwater drones, according to the US military.

    Drones are an emerging threat in naval warfare, as Ukraine has demonstrated by using a fleet of drone boats to inflict severe damage on Russia's Black Sea Fleet.

    These conflicts present new training and defensive considerations for the US Navy as it looks ahead toward future warfighting and the evolving drone threat. But the lessons for the US Navy extend beyond drones.

    In this photo released by the French military, the MV Tutor sinks in the Red Sea after it was struck by a Houthi drone boat.
    In this photo released by the French military, the MV Tutor sinks in the Red Sea in June after it was struck by a Houthi drone boat.

    "The threats we are combating in the Red Sea are not unique to the Houthis," Miguez said. "Lessons from this historic deployment will be used to address anti-ship capabilities across the fleet, including against pacing threats identified by the Department of Defense."

    That's why, he added, "for every engagement we prosecute, every missile we detect, and every UAV we see flying, we send that data to the experts ashore, so they can analyze and make improvements for the next deployers."

    This has been the case with the Houthis' anti-ship ballistic missiles, weapons that hadn't been used in combat until this conflict. Miguez told Business Insider during a visit to the Ike in the Red Sea earlier this year that the Navy has learned a lot from engaging these deadly threats.

    Rear Adm. Kavon Hakimzadeh took over for Miguez as the commander of the Eisenhower strike group just days before it finally left the Red Sea on June 22 to head home, putting a lid on a restless deployment. The Theodore Roosevelt Carrier Strike Group will soon take over the Eisenhower's responsibilities in the Middle East.

    Until it arrives, the Navy will not have an aircraft carrier in the region for the first time in a while. The shuffling of America's naval assets comes on the heels of an active few weeks for the Houthis, who hit several commercial vessels in June and have stepped up their attacks with explosive-laden drone boats.

    Read the original article on Business Insider
  • I tried the same chicken sandwich at McDonald’s and Chick-fil-A, and I’d stick with the cheaper one next time

    chick fil a chicken sandwich with logo on one side and mcdonalds chicken sandwich with logo
    McDonald's crispy chicken sandwich and Chick-fil-A's classic sandwich were very similar, but the McDonald's version was a better value.

    • McDonald's previously released a chicken sandwich amid the "Chicken Sandwich Wars."
    • The sandwich immediately drew comparisons with Chick-fil-A's iconic chicken sandwich.
    • I tried McDonald's McCrispy chicken sandwich and thought it was very similar to Chick-fil-A's.

    The chicken sandwich wars are still in full swing, but which chain has the best chicken sandwich at the best value?

    In 2021, McDonald's replaced its buttermilk crispy chicken sandwich with a new lineup of chicken sandwiches: the Crispy Chicken Sandwich, the Deluxe Crispy Chicken Sandwich, and the Spicy Crispy Chicken Sandwich.

    Immediately, fans and industry experts began to notice the new offerings seemed very similar to Chick-fil-A's and Popeyes' iconic chicken sandwiches. Business Insider's Kate Taylor reported on a leaked menu that revealed McDonald's plans to release a new chicken sandwich, saying the chain was planning to "take a page out of Chick-fil-A's playbook."

    Former McDonald's chef Mike Haracz told Business Insider it was "very apparent" that McDonald's was following Chick-fil-A's lead with its sandwich. "It comes in a foil bag just like Chick-fil-A, from what I understand it has a very similar flavor profile," he said before the sandwich's release. 

    In 2024, the chicken sandwich wars are still underway, and not just at fast-food chains. Bloomberg noted that chicken sandwiches now appear on 47% of restaurant menus, citing data from research firm Technomic. The publication reported that not only do chefs want to showcase their take on chicken, but it's cheaper and considered healthier than beef — and Gen Z loves it.

    At McDonald's, the crispy chicken sandwich has since been renamed the McCrispy. It is described as a "southern-style fried chicken sandwich" with crinkle-cut pickles and a toasted, buttered potato roll. Chick-fil-A's chicken sandwich also comes on a toasted, buttered bun with dill pickle chips.

    I wasn't going to assume that the sandwiches were identical: I had to try them for myself.

    Here's how the McDonald's McCrispy compares to Chick-fil-A's original chicken sandwich.

    The sandwiches were similar in size, though Chick-fil-A's bun and chicken fillet looked ever-so-slightly bigger.
    mcdonalds chick fil a chicken sandwich
    McDonald's crispy chicken sandwich and Chick-fil-A's chicken sandwich.

    Both sandwiches came in foil bags. They also both stayed warm despite half an hour passing between the time I picked them up and when I finally got them home. 

    I noticed that each sandwich had a very different bun. McDonald's bun, pictured on the right, was harder and slightly denser, while Chick-fil-A's was softer and slightly bigger than the fillet inside.

    I've had the Chick-fil-A chicken sandwich countless times, but I tried to go into this taste test with a fresh perspective.
    chick fil a chicken sandwich
    Chick-fil-A's chicken sandwich.

    The chicken sandwich from Chick-fil-A cost me $8.65 at my local Chick-fil-A in New York City, making it slightly more expensive than the McDonald's sandwich. 

    Chick-fil-A has consistently ranked as one of America's biggest fast-food chains, and customer loyalty is high. 

    "Chick-fil-A has very strong brand loyalists," former McDonald's chef Mike Haracz told Business Insider. "I've sat in panels when I was doing chicken work. They will try the food, but when you tell them it's not from Chick-fil-A they'll say, 'Well, I think it's great but I'm not going to buy it because I am a Chick-fil-A consumer.'"

    However, Haracz said that "there are some people who might go to Chick-fil-A strictly for the flavor" alone, and if McDonald's can match that, they may be swayed.

    Chick-fil-A's chicken sandwich, which comes served on a toasted, buttered bun with dill pickle chips, is a favorite among customers.
    chick fil a chicken sandwich
    Chick-fil-A's chicken sandwich.

    Chicken sandwiches have been mainstays on most fast-food menus since 2020, but Chick-fil-A is often considered the original.

    The chain also consistently outperforms its competitors. A recent ranking by Technomic ranks Chick-fil-A as the biggest chicken-focused fast-food chain in the country and the third-biggest fast-food chain overall. McDonald's still ranks as the No. 1 biggest fast-food chain in the country.

    However, at the franchisee level, Chick-fil-A might be coming out on top. CNBC recently reported that the average franchised Chick-fil-A restaurant (not including ones in malls) brings in about $8.7 million in sales each year, compared to the average franchised McDonald's restaurant, which makes about $3.7 million in annual sales.

    This is especially impressive considering that unlike McDonald's, which is often open 24/7, Chick-fil-A is only open six days a week. 

    The bun was light and fluffy and the chicken breast was the perfect thickness.
    popeyes chicken sandwich
    Chick-fil-A's chicken sandwich.

    Chick-fil-A's chicken breast was flakier rather than juicy. Looking at both of the sandwiches, the fillet itself also looked slightly bigger. The breading was thinner and clung to the chicken breast well, which gave it a great texture. 

    However, I was slightly disappointed by Chick-fil-A's pickles — they didn't have the strong briny flavor or crunchiness I usually look for.

    Next up was the McDonald's McCrispy chicken sandwich.
    mcdonalds chicken sandwich
    McDonald's crispy chicken sandwich.

    The McDonald's crispy chicken sandwich cost $7.49 at my local chain in Brooklyn, New York.

    The chicken fillet was thick — right off the bat, it looked really similar to sandwiches I've had from other chains.
    mcdonalds chicken sandwich
    McDonald's crispy chicken sandwich.

    I've been a fan of McDonald's chicken sandwiches for years, but I could already tell that I was going to like this new sandwich a lot more.

    The sandwich came with a few whole pickle chips on top of the chicken fillet.
    mcdonalds chicken sandwich
    McDonald's crispy chicken sandwich.

    The bun held the contents of the sandwich together perfectly, and in terms of size, I thought McDonald's did a great job at nailing the bun-to-chicken ratio. 

    Biting in, I was immediately impressed.
    mcdonalds chicken sandwich
    McDonald's crispy chicken sandwich.

    The sandwich's breading had a slight sweetness. However, the tart, crunchy pickles, which had a strong briny flavor, perfectly balanced it out. The chicken was thick, juicy, and flavorful.

    The only aspect of the sandwich I wasn't in love with was the bun — though it was a good size, I thought it was slightly too thick. I'm of the opinion that a sandwich bun's sole purpose is to hold everything together, without overpowering the other ingredients. I think this thicker potato bun slightly missed the mark on that.

    It was hard to say which one I liked more. However, McDonald's has a great chicken sandwich at a great value.
    mcdonalds chick fil a chicken sandwich
    McDonald's crispy chicken sandwich and Chick-fil-A's chicken sandwich.

    So, how similar were the two sandwiches? Pretty similar, in my opinion. If I was to do a blind taste test, I might not even know which was which, unless one was slathered in Chick-fil-A sauce. However, this is not to say that McDonald's is actively trying to copy or imitate Chick-fil-A's most iconic offering.

    There is a trend in what consumers are looking for in a chicken sandwich, whether they're ordering from Chick-fil-A, McDonald's, Popeyes, or any other chain.

    Judging by the success of the chicken-war competitors, consumers want a Southern-inspired flavor with juicy, flavorful chicken and tart and crunchy pickles. McDonald's definitely delivered on all counts.

    As far as this food reporter is concerned, the McDonald's chicken sandwich stacks up well against fan favorites — and you save a little bit of money by ordering from the bigger chain.

    Read the original article on Business Insider
  • Russia is looking to rein in the country’s property boom as it tries to cool an overheating economy

    Russia
    • Russia is shutting down a mortgage subsidy program that fueled a property boom.
    • It's a sign Russia is trying to cool off its real estate sector, as well as its overheating economy.
    • Russia's economy has been heating up for a while, bucking dire predictions about the effect of sanctions. 

    Russia is shuttering a major housing subsidy program as policymakers try to contain a property boom that has helped overheat the economy in recent years, Bloomberg reported Tuesday.

    Russia's government has spent around half a trillion rubles since 2020 to fund a program offering mortgages at rates as low as 8%. That's much lower than the market rate for mortgages in Russia, with banks offering mortgages at rates ranging between 17% and 20%, according to government data cited by Bloomberg.

    But that program has ushered a wave of Russians into the nation's real estate market, which has sent property prices soaring. That poses a threat to Russia's economy, which experts have warned is becoming overheated as the costs of its war take a toll.

    Residential property prices in Russia rose to a fresh record in 2023, according to data from the Bank for International Settlements. Home prices nearly tripled from 2020 to 2023 alone, data from the Russian-based research firm Urban Economics shows, attesting to the inflationary pressures of the subsidy program.

    Rising property prices are largely attributed to increased housing demand over the past few years. Home purchases ballooned to 18 trillion rubles last year, amounting to around 11% of Russia's GDP, Kremlin data shows. Meanwhile, around 75% of mortgages in the nation last year were subsidized by the program.

    Most people eligible for a subsidized mortgage won't be able to get one starting this week, Bloomberg reported.

    Since its beginning in 2020, the program has received criticism from top policymakers. According to estimates the Bank of Russia made at the start of the year, keeping the program running through 2026 would have cost Russia another 1 trillion rubles, or $11.3 billion.

    The Bank of Russia also reported "signs of overheating" in the mortgage lending market late last year.

    "The larger the volume of subsidized loans, the higher interest rates need to be for all borrowers to prevent high price growth," the central bank's governor, Elvira Nabiullina, added in June.

    Bucking most predictions, Russia's economy has been running too hot for most of the war, according to Aleksei Kiselev, a Russian economist and a research associate at the Florence School of Banking and Finance.

    Inflation is up, wages are rising, and GDP is steadily rising, even as the country deals with stiff sanctions from the West.

    "Economic crises occur for various reasons, including financial bubbles that grow until they burst," Kiselev said in a recent commentary on the Carnegie Endowment website.

    "At some point, the imbalances will rise to the surface and force the state to retreat from its commitments to its people. It does not really matter whether this takes the form of confiscations, the removal of massive subsidies, price increases, or an indefinite freeze on deposits and pensions," he later added.

    Russian inflation clocked in at 8.61% in June, well above the Bank of Russia's 4% price target. According to a recent Reuters poll, analysts are expect inflation to remain well above target all year, which could prompt central bankers to raise rates to 18% in July.

    Read the original article on Business Insider
  • Clarence Thomas takes aim at a new target: Eliminating OSHA

    profile view of Thomas
    Supreme Court Justice Clarence Thomas argues that OSHA is unconstitutional.

    • Clarence Thomas thinks OSHA may be unconstitutional.
    • Thomas disagreed with his fellow justices who declined to take up a case challenging OSHA's authority.
    • It's the latest target for the arch-conservative justice, who has questioned other decisions like gay marriage.

    Supreme Court Justice Clarence Thomas has set his sights on eliminating OSHA.

    The Supreme Court announced Tuesday which cases it will consider next and which cases it won't. Among those the court rejected was a case that challenged the authority of the Occupational Safety and Health Administration (OSHA), which sets and enforces standards for health and safety in the workplace.

    And Thomas, widely considered to be the most conservative justice on the already conservative-majority court, wasn't happy.

    He wrote a dissent explaining why he believes the high court should've taken the case: because OSHA's power, he argues, is unconstitutional.

    The case in question — Allstates Refractory Contractors v. Julie A. Su, Acting Secretary of Labor — was supported by conservative business groups and Republican attorneys general who want to limit OSHA's power over the American workplace, USA Today reported. In it, the plaintiffs, Ohio-based general contractors, argue that Congress violated the Constitution by delegating legislative power to an outside agency when it established OSHA in 1970.

    "Congress purported to empower an administrative agency to impose whatever workplace-safety standards it deems 'appropriate,'" Thomas wrote in his dissent. "That power extends to virtually every business in the United States."

    The federal US Court of Appeals for the Sixth Circuit upheld OSHA's constitutionality in 2023, arguing that the agency's authority is valid because it's limited to just workplace safety, Reuters reported.

    But Thomas believes the agency's powers are still too great.

    "The agency claims authority to regulate everything from a power lawnmower's design," he continues, "to the level of 'contact between trainers and whales at SeaWorld.'"

    He argues that if OSHA does not unconstitutionally grant too much legislative power to an agency, "it is hard to imagine what would."

    "It would be no less objectionable if Congress gave the Internal Revenue Service authority to impose any tax on a particular person that it deems 'appropriate,'" Thomas continues in his dissent.

    This isn't the first time Thomas has disagreed with his fellow justices to a conservative extreme.

    In 2022, when the high court overturned Roe v. Wade, Thomas went a step further to argue that the court should also reconsider its previous decisions that protected contraception access, same-sex relationships, and same-sex marriages.

    Read the original article on Business Insider
  • Texas Democrat becomes first member of Congress to call for Biden to drop out

    Rep. Lloyd Doggett at a press conference
    Rep. Lloyd Doggett became the first sitting member of Congress to call on Biden to drop out on Tuesday.

    • Rep. Lloyd Doggett, a Democrat from Texas, just called on Joe Biden to drop out of the race.
    • He is the first sitting Democratic member of Congress to do so.
    • "Too much is at stake to risk a Trump victory," he said.

    Following Joe Biden's disastrous debate performance, Democratic Rep. Lloyd Doggett of Texas became the first sitting member of Congress to call on the president to drop out of the presidential race.

    In a statement released on Tuesday, the Austin-era lawmaker praised Biden, but warned of the "authoritarian takeover" that would come if former President Donald Trump wins.

    "Too much is at stake to risk a Trump victory — too great a risk to assume that what could not be turned around in a year, what was not turned around in the debate, can be turned around now," said Doggett.

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

    This is a developing story. Please check back for updates.

    Read the original article on Business Insider
  • Kari Lake keeps making money off of her MAGA celebrity brand

    Arizona GOP Senate Candidate Kari Lake at an event in Washington, DC last month.
    Kari Lake, the GOP's likely Senate nominee in Arizona, was paid $20,000 to speak at an Indiana GOP event in April.

    • Kari Lake has never won an election — but she's quickly become one of MAGA's biggest stars.
    • In just the last five months, she made $20,000 from one paid speech and $27,000 from book sales.
    • She's also invested between $1,000 and $15,000 in Trump's "Truth Social."

    The GOP's hopes of retaking the Senate rest in part on Kari Lake, the former TV broadcaster and 2022 gubernatorial candidate who's poised to become the party's Senate nominee in Arizona.

    But Lake keeps spending lots of time outside the state, much to the chagrin of Republicans — including former President Donald Trump.

    As it turns out, she's making some extra money by doing it.

    Lake was paid $20,000 by to appear at the the St. Joseph County Republican Party's Lincoln Day Dinner in South Bend, Indiana, according to a financial disclosure filed at the end of June.

    The Arizona Republican previously filed a disclosure in January, revealing that she had given several paid speeches, totaling $75,000, in the year before she announced her campaign in October 2023. The new April payment appears to contradict her campaign's previous statement that Lake "doesn't [charge] a speaking fee."

    In the five months since filing her January disclosure, Lake also brought in an additional $27,738.77 from sales of her book, "Unafraid."

    Her June disclosure also included further details of her agreement with the agreement she made with right-wing publisher Winning Team Publishing in 2023: a $100,000 advance, plus $25% of net profits beyond that.

    The candidate's assets are largely the unchanged from January, aside from one notable addition to her stock portfolio: Between $1,000 and $15,000 in stock in Trump Media & Technology Group, the company that run's the former president's "Truth Social" platform.

    Lake's campaign did not respond to Business Insider's request for comment.

    The GOP candidate is all but certain to face Democratic Rep. Ruben Gallego this fall in what will be a key race for determining control of the Senate.

    Plenty of politicians in both parties have found ways to cash in on their celebrity brands, most often through book sales that can sometimes exceed their official salaries. But Lake has yet to win an election, and some Republicans have grumbled about the fact that she's spent a significant amount of time out of state.

    Read the original article on Business Insider
  • Biden shares huge June fundraising numbers to calm Democrats after debate disaster — but donors remain spooked

    Biden
    President Joe Biden in April 2024.

    • The Biden campaign enjoyed a substantial fundraising haul in June, taking in $127 million.
    • Roughly $38 million came into the campaign's coffers after Biden's poor debate performance.
    • Biden's campaign is aiming to use the sustained fundraising figures to calm the nerves of anxious donors.

    President Joe Biden's campaign on Tuesday touted a fundraising windfall in June, announcing that it had taken in $127 million in combination with the Democratic National Committee.

    Of the significant haul, $38 million came in the four days following the president's disastrous debate against Trump, according to the New York Times.

    While Biden is pointing to the cash influx to calm anxieties about his candidacy following his widely panned debate performance against former President Donald Trump, deep-pocketed donors remain on edge.

    In an attempt to quell nerves from top Democrats and the party's rank-and-file, the Biden campaign released the June fundraising numbers well ahead of the federal filing deadline later this month.

    The June numbers marked Biden's best fundraising month this cycle, though much of that money came from a star-studded Hollywood event last month, which raked in $28 million and is so far the most lucrative single Democratic Party fundraiser to date. Even so, Biden had a higher haul in June 2020, when he raked in $141 million.

    Biden campaign chair Jen O'Malley Dillon on Monday held a call with over 500 major donors in an attempt to ensure them that the president can and should continue his campaign, Politico reported.

    But many donors are still seeking more reassure from Biden ahead of next month's Democratic National Convention in Chicago. One high-dollar fundraiser told The Washington Post that the situation sentiment toward the Biden campaign among donors was akin to "Armageddon."

    "Unless he shakes up the campaign and shows leadership, it's going to be a really, really tough time with money," the fundraiser told the newspaper.

    Another veteran donor, Whitney Tilson, recently said in a post on X that he felt "deceived" and added that if Biden's performance last week was a true reflection of his abilities than it "would be a waste of my time and money" to continue backing him.

    According to the Biden campaign, almost two-thirds of his June donations came from grassroots donors, and nearly half of those who gave money following the debate did so for the first time. These statistics, aides insist, are evidence of continued support for Biden.

    Trump has not yet released June fundraising numbers, but he recently erased Biden's financial edge, largely due to a huge stream of donations following his criminal conviction in Manhattan. The ex-president's May fundraising numbers exceeded Biden's June haul, at $141 million compared to $127 million.

    To date, the Biden campaign has $240 million in the bank. And much of that money is going toward advertisements and offices in key swing states across the country.

    However, despite the strong numbers from the Biden campaign, many elected Democrats and donors are waiting on post-debate polling numbers to decide how to proceed.

    Read the original article on Business Insider