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The FDA has finally greenlit the popular nicotine pouches that are taking America by storm.
The regulator allowed Zyn pouches, which come in flavors like mint, cinnamon and coffee, to remain on the market, after its studies found they contained “substantially lower” amounts of harmful ingredients than cigarettes and smokeless tobacco products, and posed a lower risk of cancer and other serious health conditions. Celebrities and entrepreneurs alike have embraced the pouches, and former Fox News star Tucker Carlson even launched a competing product.
Zyn maker Philip Morris International dominates the market for nicotine pouches, and Forbes estimated in September that Zyn sales could hit $2.9 billion in 2025.
FIRST UP
The Supreme Court announced it might issue opinions Friday morning, meaning a ruling on the law forcing TikTok’s sale or ban in the U.S. could possibly be issued soon as the app faces a looming prohibition in the U.S. on Sunday. Senate Minority Leader Chuck Schumer (D-N.Y.) supported delaying the ban, noting that Senate Democrats failed to pass a bill that would’ve extended ByteDance’s deadline to divest. Meanwhile, Trump—who takes office one day after TikTok is set to be banned—is considering an executive order to suspend the ban’s enforcement for two to three months. But if he pauses the law without actual evidence showing ByteDance is divesting, the executive order may not be legally sound.
Casino mogul Phil Ruffin, 89, who Forbes estimates is worth $4.7 billion, says he might sell the legendary Circus Circus property in Las Vegas, calling it “the best piece of land on the West Coast.” There is no deal yet, but he says he has been approached by potential buyers. Ruffin is also best buddies and business partners with the incoming President of the United States, Donald Trump, with whom he co-owns the Trump International Hotel in Vegas.
WEALTH + ENTREPRENEURSHIP
The world’s wealthiest man Elon Musk took to social media Thursday to share that he and the planet’s next richest person, Jeff Bezos, had apparently made amends. Musk’s $426 billion net worth is about $190 billion more than Bezos’ $235 billion, according to our latest estimates, and the often good-natured beef between the two goes back years.
TECH + INNOVATION
Plug Power, which makes fuel cells and electrolyzers that generate carbon-free hydrogen from water and electricity, got a $1.66 billion loan guarantee from the Energy Department to construct large-scale hydrogen plants. The funding line will help Plug build as many as six U.S. facilities, the company said, and comes amid a final flurry of cleantech investing and credits by the Biden Administration.
MONEY + POLITICS
Ex-attorney Rudy Giuliani settled a dispute with two election workers that he said allows him to keep “all of my personal belongings,” after a protracted process of turning over his assets to satisfy the $148 million he was court-ordered to pay the workers he defamed. A trial over several of the former mayor’s assets was slated to begin Thursday, but was postponed when Giuliani never showed up.
SPORTS + ENTERTAINMENT
LIV Golf and Fox Sports announced an agreement Thursday to air the golf league across Fox properties next month, bringing the Saudi-funded, President-elect Donald Trump-backed league its most prominent stage yet. The financial terms of the deal are unclear, but Sportico noted the fee is likely a fraction of the $700 million annual rights payouts received by the PGA Tour.
WORLD
Israel’s security cabinet convened Friday morning to vote on the Gaza ceasefire and hostage deal agreed to Wednesday, after the vote was delayed due to last-minute disputes. Israeli Prime Minister Benjamin Netanyahu’s office had alleged that Hamas had backed out on parts of the deal, which a senior Hamas leader dismissed.
TRAVEL + LIFESTYLE
TSA officers intercepted 6,678 firearms at airport security checkpoints across the country last year, almost all of which were loaded. That’s down slightly from a record-setting 2023, but overall, the volume of firearms intercepted at U.S. airports has surged 152% in the past decade.
TRENDS + EXPLAINERS
Firefighters made progress on containing multiple fires burning in Los Angeles County as the weather improved Thursday. A number of celebrities—many of whom lost homes or have been forced to evacuate—and major corporations have pledged to donate supplies and money to relief efforts. They include actor Leonardo DiCaprio, members of rock band The Eagles, billionaire Los Angeles Clippers owner Steve Ballmer, as well as Netflix, Target and Comcast NBCUniversal.
DAILY COVER STORY
The New Ivies: Why Smart Kids And Their Cost Conscious Parents Flock To SUNY Binghamton
TOPLINE New York’s Binghamton University isn’t on the radar for most applicants outside of the state. But with a new advanced battery and energy tech research push and thriving schools of nursing and pharmacy, it should be.
The university’s academic rigor rivals that of many other elite public universities. The median Binghamton applicant scores a 1430 on their SATs—within the 98th percentile—and its graduates earn a median salary of $73,400 six years after graduating, and $136,600 10 years out. In April, Forbes named Binghamton one of the 10 public New Ivies, alongside better-known powerhouses University of Michigan and the Georgia Institute of Technology.
The university’s acceptance rate reflects a slow but growing awareness outside of New York of the school’s quality. For the academic year starting in 2024, 39% of applicants were accepted to the university, down from 43% nearly a decade ago in 2015. Application volume has nearly doubled in that time. While it may have been a safety school for Ivy League aspirants in the past, it is no longer, says Adam Nguyen, a long-time admissions consultant and founder of Ivy Link, an admissions consulting firm.
So why aren’t more American students clamoring to get a spot in Binghamton’s freshman class? Likely, they don’t know about it. New York, like California, doesn’t have a singular flagship university—there’s no comparable University of New York to a school like the University of North Carolina or the University of Virginia. Binghamton is one of 64 campuses in the State University of New York system, and one of four flagships, alongside SUNY Buffalo to the west, SUNY Albany to the north, and SUNY Stony Brook in Long Island.
WHY IT MATTERS “A lot of people get caught up saying ‘I want to go to this fancy school, I want to go to private schools,’ especially people in my town,” says freshman Brady Ellicott, who grew up in affluent Westchester County north of New York City. “At the end of the day, you just need a degree, and every school has things to do in that area and has unique traditions. But Binghamton is cheap, and it’s a really good education worth its price with so many opportunities.”
MORE The New Ivies For 2024
FACTS + COMMENTS
While more women and young people are getting cancer, the overall mortality rate has declined, a new study from the American Cancer Society shows. The lifetime probability of being diagnosed with an invasive cancer is now only slightly higher for men than for women:
50 to 64: The disease rates in this age group among women surpassed those of men for the first time
34%: The decline in the cancer mortality rate between 1991 and 2022 in the U.S.
2,041,910: The number of cancer diagnoses expected in 2025
STRATEGY + SUCCESS
Being an overachiever at work can feel good at first, but workplaces don’t always reward hard work fairly. Your company may view you as too valuable in your current role to be promoted, or assume you’re too dedicated to push back. Change the dynamic by setting boundaries strategically, and be sure to highlight your contributions with specific outcomes.
VIDEO
QUIZ
Nintendo announced it will release its highly-anticipated Switch 2 handheld console this year, and appeared to reveal a new version of a legacy game to be released with it. Which game franchise is it?
A. Mario Kart
B. Animal Crossing
C. Legend of Zelda
D. Pokémon
Check your answer.
Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chis Dobstaff.