The Richest Politician On Capitol Hill Is Likely Georgia’s Recently Appointed, Controversial Sen. Kelly Loeffler

Plus: Senate Votes To Ban TikTok From Government Devices

We took a closer look into the fortune of Georgia’s Republican Senator Kelly Loeffler, who is likely the richest person on Capitol Hill. Like the richest person in the White House, Loeffler refused to divest from her family’s core business upon taking office. That means Loeffler is, in the eyes of one government watchdog, “a walking conflict of interest.”  Also new this week: Forbes reporter Angel Au-Yeung spoke with Craigslist founder Craig Newmark about his plans to fight misinformation ahead of the election.

Mind On Their Money

Craig Newmark, the billionaire behind Craigslist, is spending nearly $200 million to save journalism, beat President Trump and end information warfare. Newmark says misinformation is dismantling our democracy. Here’s how he plans to fight it.

Stimulus Update: With 31 million Americans unemployed, lawmakers are still ‘trillions apart’ on a deal.

More than 30% of Americans couldn’t last a month without the $600 per week in federal unemployment benefits by the CARES Act that are now expired.

President Donald Trump took to Twitter to scold Democrats for “holding back” the next round of stimulus checks, which he said were “ready to be sent out.” Here’s why that’s not the case. 

The Campaign Legal Center, a nonpartisan campaign finance watchdog group, filed a complaint with the Federal Elections Commission accusing the Trump campaign of “laundering” $170 million through numerous companies, some with connections to former Trump campaign manager Brad Parscale.

U.S. GDP fell at an annual rate of nearly 33% in the second quarter, the biggest annualized drop in history, but that statistic doesn’t tell the whole story. Here’s a better way to think about it. 

Where is the Senate GOP’s $1 trillion HEALS Act? Here’s what we know about the mysteriously splintered proposal.

NASA successfully launched its latest Mars rover, Perseverance. The Perseverance mission total cost is $2.7 billion.

Global Economy

The U.S. State Department announced Thursday it has rolled back an across-the-board travel advisory in place since March for Americans to avoid all international travel because of the coronavirus pandemic, but travel bans on Americans remain in many countries across the world as the coronavirus continues to hammer much of the U.S.

Trump said he did not bring up reports that a Russian military intelligence unit offered bounties to militants in Afghanistan to kill U.S. soldiers in a call with President Vladimir Putin last week and acknowledged he has never broached the topic with the leader, even as Democrats criticize the president for being deferential to Putin and military officials stress the severity of the intelligence assessments.  

U.S. Ambassador to the United Kingdom and owner of the New York Jets Robert “Woody” Johnson told colleagues that President Trump pressured him in 2018 to entreat the British government to move the British Open golf tournament to the Trump Turnberry resort in Scotland.

The United Nations World Tourism Organization (UNWTO) announced that the coronavirus pandemic and resulting lockdowns have battered the industry and cost a shocking $320 billion just from January to May, a signal of the devastating losses seen in the industry as much of the world remains at home as much as possible.

Michelle Bolsonaro, first lady of Brazil, which is struggling with one of the world’s worst coronavirus outbreaks, tested positive for the virus herself last week, days after her husband, President Jair Bolsonaro, said he had finally tested negative after being infected earlier this month.

As U.S. leaders warn of upticks in coronavirus cases in young people, Europe is reporting a similar trend of people under the age of 30 becoming infected in the wake of social distancing measures being rolled back.

EDITOR'S PICKS

Here’s Why The Political World Is Abuzz About Sen. Kamala Harris (Forbes)

U.S. Postal Service Gets $10 Billion Coronavirus-Relief Loan After Months Of Negotiations—And Attacks By Trump (Forbes)

Here’s Why Your Federal Unemployment Benefits Could Be Delayed For Months (Forbes)

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