
Red Bull Heir Transfers $1.1 Billion Stake to Geneva Trust Firm
Chalerm Yoovidhya, a son of the Thai businessman, got the remaining 2% and has kept it for around four decades as Red Bull became a roaring success and turned him, his father and at least nine other family members into billionaires.
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Yahoo
17 minutes ago
- Yahoo
AI demand expected to boost electronics giant Foxconn's second-quarter profit
By Wen-Yee Lee TAIPEI (Reuters) -Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Thursday that second-quarter profit rose 14% on continued strong demand for artificial intelligence servers. Net profit for April-June for Apple's top iPhone assembler and Nvidia's server maker likely came in at T$39.8 billion ($1.33 billion), up from T$35.05 billion a year earlier. Foxconn, formally called Hon Hai Precision Industry, last month reported record second-quarter revenue on strong demand for AI products but cautioned about geopolitical and exchange rate headwinds. Global trade uncertainty could dim the prospects for its outlook this year, as it has a major manufacturing presence in China, though Washington and Beijing this week extended a tariff truce for another 90 days. Most of the iPhones Foxconn makes for Apple are assembled in China, but the bulk of those sold in the United States are now produced in India. The company is also building factories in Mexico and Texas to make AI servers for Nvidia. In its July sales report, Foxconn said while the third quarter should see on-year growth - the company does not provide numerical guidance - the impact of "evolving global political and economic conditions" would need continued close monitoring. Foxconn has also been looking to expand its footprint in electric vehicles, which the company sees as a major future growth generator, though that has not always gone smoothly. Earlier this month, Foxconn said it had struck a deal to sell a former car factory at Lordstown, Ohio, for $375 million, including its machinery, but said it would continue to use the site to make a broader range of products aligned with its strategic priorities. Foxconn has expanded beyond its traditional role as an iPhone assembler in other areas too. Last month it formed a strategic partnership with industrial motor maker TECO Electric & Machinery to build data centres. Foxconn holds its earnings call at 3 p.m. (0700 GMT) in Taipei on Thursday, where it will also update its outlook for the year. Foxconn's shares have risen 7.9% so far this year, outperforming the broader Taiwan index's 5.8% gain. ($1 = 30.0020 Taiwan dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27 minutes ago
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Exclusive: Billionaire real estate mogul has a blunt advice for Bitcoin investors
Exclusive: Billionaire real estate mogul has a blunt advice for Bitcoin investors originally appeared on TheStreet. Grant Cardone isn't mincing words when it comes to how young people should build wealth, and Bitcoin isn't at the top of his list. Speaking on TheStreet Roundtable with host Scott Melker, Cardone said the first priority for anyone starting out should be investing in themselves, building their personal brand, and creating a cash-flowing business before touching crypto. 'You're the business,' Cardone said. 'Whether you call yourself a business or not, you're in the business of being you. And if people don't see you as a dependable, consistent, solution-oriented person, money's never coming to you. Opportunity's not coming to you.'Once that foundation is set, he says the focus should be all-in on a single income-producing vehicle, not scattering small bets across multiple investments. And for the Bitcoin faithful, Cardone delivered the part that might sting: 'I would not say that one thing for a kid… I don't believe the first thing should be Bitcoin for those kids,' Cardone said. 'I think it should be something that provides cash flow, and they convert the cash flow to Bitcoin. Because if the Bitcoin blows up, you need something to rely on to take care of your bills. I can't eat Bitcoin.' Grant Cardone is a self-made real estate mogul, sales trainer, and motivational speaker whose empire spans multiple industries. He is the founder of Cardone Capital, a real estate investment firm that manages billions of dollars in multifamily properties across the United States. Beyond his portfolio, Cardone has built a global brand through his books, sales training programs, and high-energy conferences, attracting entrepreneurs, investors, and ambitious professionals looking to scale their income and described as a straight-talking hustler, Cardone is known for his unapologetically aggressive approach to business and investing. He preaches the '10X Rule' — the idea that people should set goals 10 times bigger than they think possible and take massive action to achieve them. This no-nonsense style, combined with his knack for turning personal branding into revenue, has made him a polarizing but undeniable force in the worlds of entrepreneurship and personal finance. Exclusive: Billionaire real estate mogul has a blunt advice for Bitcoin investors first appeared on TheStreet on Aug 13, 2025 This story was originally reported by TheStreet on Aug 13, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Gizmodo
an hour ago
- Gizmodo
U.S. Allegedly Super-Charged Its Efforts to Prevent China From Getting American Chips
The Trump administration has made curbing China's access to high-powered AI chips a high priority. According to the government, China may use the chips to build up its arsenal of military technology, and it simply can't have that. At the same time, America's considerable and longstanding chip export controls may also be aimed at slowing China's own chip industry. Now, a report from Reuters claims that the government has been embedding location tracking devices in AI chip shipments, in an effort to police potential diversions of the tech to America's geopolitical foe. Reuters reports that sources with knowledge of the policy claim that the U.S. Department of Commerce's Bureau of Industry and Security, America's export enforcement agency, is 'typically involved' with such operations. Those same sources claim that the FBI and Homeland Security Investigations 'may take part too.' Gizmodo reached out to the agencies and the Trump administration for comment. The tracking devices are reportedly being placed in 'targeted shipments' of AI chips. Those shipments are being chosen because authorities view them as being at 'high risk of illegal diversion to China.' The point of the trackers is to punish companies or individuals who may violate U.S. export controls. Sources also said that the trackers have been used in server shipments from prominent manufacturers, including Dell and Super Micro, which include chips made by AMD and Nvidia. An Nvidia spokesperson told Gizmodo, 'We don't install secret tracking devices in our products,' full stop. They also referred us to a recently published company blog that states: 'There are no back doors in NVIDIA chips. No kill switches. No spyware. That's not how trustworthy systems are built — and never will be.' The 'chip war' has, to some degree, always been a thing, and governments, particularly the U.S., have always fought for a competitive advantage when it comes to the semiconductor industry. The advent of the AI chip has only upped the ante, as nations fight for dominance over the emerging field of generative AI, and all the potential applications (military included) it may have. At the same time, the Trump administration has sent mixed messages on this issue, as Trump recently claimed he would be open to allowing Nvidia to sell a 'scaled-down' version of its GPU chip to China. The American practice of embedding hidden, Trojan-horse-style surveillance applications inside commercial hardware and software exports is also not new. When the Edward Snowden revelations originally broke in 2014, one of the bombshells at the time was the apparent revelation that the NSA routinely embeds 'backdoor surveillance tools' inside routers and other computer hardware before they are sent on to foreign nations.