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Amid horrific images from natural disasters and war around the world, many are using the power of their dollar to lend a helping hand.
While disaster relief is a tiny part of overall charitable giving, out of the hundreds of companies served by third-party giving platform Benevity, three of the top five recipients of workers’ donations over the past two years were charities associated with relief efforts.
If you are moved to donate, consider looking to one of the organizations on the new Forbes list of America’s Top 100 Charities. It features groups like Direct Relief, one of the most respected organizations in the disaster relief business, and World Central Kitchen, which has served hundreds of millions of meals to those affected by both natural disasters and war.
FIRST UP
Luigi Mangione—the 26-year-old identified by authorities as a “strong person of interest” in the fatal shooting of UnitedHealthcare CEO Brian Thompson last week—was formally charged in New York late Monday, hours after his arrest in Pennsylvania. According to court records, Mangione was charged with murder, three weapons possession-related charges and one forgery charge in Manhattan state court. A description of Mangione’s arrest notes that officers found a 3D-printed pistol and 3D-printed silencer in his backpack, which authorities have said are consistent with the firearm used in the shooting of Thompson.
BUSINESS + FINANCE
A Nevada court rejected Rupert Murdoch’s attempt to amend his succession plan and give sole control of the family trust to his eldest son in hopes of preserving the right-wing slant of his media empire, the New York Times reported. Murdoch, 93, was originally set to grant equal control of his empire, which includes Fox News and the Wall Street Journal, to his four oldest children, but last year he petitioned to grant exclusive control of the family trust to his son Lachlan.
Nvidia shares slid 2.6% Monday after China announced it was opening an investigation into the company over potential antitrust law violations. Beijing is looking into Nvidia’s 2020 $7 billion acquisition of computer networking equipment company Mellanox Technologies, and the firm is also facing antitrust problems in the U.S.
TECH + INNOVATION
TikTok asked a federal court Monday to pause its ruling upholding the federal government’s law that could ban the app in January, which would keep the law from going into effect as it asks the Supreme Court to take up the case. The company also said the pause would give the incoming Trump Administration time to weigh in on the legal dispute, as President-elect Donald Trump reportedly wants to stop the TikTok ban.
MORE: The fight over the ban and the way Trump handles it could set a precedent with impacts far beyond TikTok and social media, testing the limits of presidential power. The Trump Administration could decide not to enforce the law, but that likely won’t be enough assurance for the American companies that could face multi-billion dollar fines if they help make TikTok available in the U.S. after January 19.
MONEY + POLITICS
The registration for a mysterious new Florida political action committee, Florida Firebrand PAC, suggests a link to Matt Gaetz, the former congressman and Trump’s short-lived attorney general nominee. The PAC’s formation coincides with speculation over the political future of Gaetz, who resigned from Congress and has been accused of sexual misconduct for years.
Trump mocked Canadian Prime Minister Justin Trudeau—referring to him as a governor and Canada as a state—in a post on his Truth Social platform early on Tuesday, after Trudeau warned that a tariff war would end up raising prices for Americans. The president-elect responded to Trudeau’s remarks, writing that he looks forward to “seeing the Governor again soon, so that we may continue our in depth talks on Tariffs and Trade, the results of which will be truly spectacular for all!”
SPORTS + ENTERTAINMENT
Steve Cohen and the New York Mets reportedly agreed Sunday night to a 15-year, $765 million deal to sign 26-year-old outfielder Juan Soto, who wore Yankee pinstripes last season. On paper, the math doesn’t add up for the Mets to justify this deal, but Cohen, who is Major League Baseball’s wealthiest owner with an estimated net worth of $21.3 billion, doesn’t need it to: All he needs to compete with other teams’ systemic advantages is his own wallet.
Formula 1’s top 10 earners raked in $317 million on the track in 2024, according to Forbes estimates, a 23% increase over 2023 and the best mark in the four-year history of Forbes’ F1 earnings ranking. Max Verstappen is F1’s highest-paid driver for the third straight year, with estimated 2024 earnings of $75 million, putting him $18 million ahead of his longtime rival Lewis Hamilton of Mercedes.
TRENDS + EXPLAINERS
A judge blocked the Department of Treasury from enforcing the Corporate Transparency Act’s beneficial ownership information reporting requirements across the country. The law, intended to make it harder for bad actors to hide their identities and ill-gotten gains, required companies to report details about their owners, but only about 20% of companies—or 6 million—had filed a report. For now, businesses can voluntarily disclose the information, but aren’t required to while the case is pending.
DAILY COVER STORY
A Bitcoin Miner Promised To Help A Texas Town. It Went Bankrupt Instead. Now, It’s Pivoting To AI
TOPLINE Three years ago, one of the world’s largest bitcoin miners offered a lifeline to the town of Denton, Texas, a community burdened with tens of millions of dollars in debt. The miner, Core Scientific, wanted to build a data center in the city. In exchange for a massive power contract that would double Denton’s energy footprint, the company would provide much needed revenue in the form of taxes and fees. Denton accepted.
But within months of powering on, Core Scientific filed for bankruptcy after being saddled with its own outstanding debt.
Now, on the heels of the artificial intelligence boom, Core Scientific has reinvented itself as a cloud computing company for AI startups. Last month, the former crypto miner announced that its Denton facility will transform into what it claims will be one of the largest AI supercomputers in North America. It received a green light from Denton’s local government to increase its previously 297-megawatt power agreement by another 100 megawatts, enough to run nearly 400,000 homes—a capacity larger than Elon Musk’s “Colossus” supercomputer in Memphis, Tennessee.
Core Scientific was drawn to Denton because of its abundance of electricity and cheap real estate. When Core Scientific proposed building its data center in town—a project that would supposedly deliver the utility up to $8 million a year in revenue—the city’s local power utility was $140 million in debt after a historic winter storm in 2021.
Residents and some Denton city officials were skeptical of the project because of its secretive nature and large energy footprint, but they ultimately supported the project after the utility convinced them that Core Scientific would shoulder 100% of the risk.
WHY IT MATTERS “Driven by the artificial intelligence frenzy, industrial-scale crypto miners—with existing access to infrastructure and massive power contracts—are looking for ways to pivot their operations to AI computing,” says Forbes senior writer Sarah Emerson. “Core Scientific is one of the largest bitcoin miners to have successfully transitioned its business to AI, and did so in the aftermath of bankruptcy. What remains to be seen is whether these AI supercomputers, which must run continuously, will be a burden to local energy grids.”
MORE How Elon Musk Muzzled Government Employees From Talking About xAI’s New Supercomputer
FACTS + COMMENTS
Gas prices fell to a more than three-year low Monday amid the busy holiday travel season:
$2.97: The national average price for a gallon of gas according to data from GasBuddy, its lowest point since May 2021
Eight: The number of consecutive weeks that gas prices have fallen
Around 65%: The share of Americans expected to take a road trip between Thanksgiving and mid-January, according to a Deloitte survey
STRATEGY + SUCCESS
Many people make a critical mistake when crafting their résumés: They’re not as specific as they should be. When putting together your résumé, quantify your accomplishments, for instance, noting the amount of revenue you drove or time you saved. An easy way to make sure you have such details readily available when working on your résumé is by keeping a running list of tasks you worked on, the details and the quantifiable results.
VIDEO
QUIZ
Taylor Swift’s Eras Tour, which ended Sunday, grossed a record $2 billion in ticket sales. That’s twice as much as the previous record, set by which musical group?
A. U2
B. Guns N’ Roses
C. Coldplay
D. The Rolling Stones
Check your answer.
Thanks for reading! This edition of Forbes Daily was edited by Chris Dobstaff and Caroline Howard.