Jay-Z’s Net Worth Pops | Warren Warns Ultra-Millionaires | Scotch’s Tariff Break

Plus: Top Business Minds Of The Pandemic

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Jay-Z’s second deal announcement in as many weeks adds a pile of cash to the billionaire’s already considerable wealth. We also look at a proposal to tax the wealth of ultra-millionaires, and at the suspension of punitive tariffs on Scotch whisky.

In The News Today

A former State Department aide who was appointed by former President Donald Trump was arrested in connection with the January 6 Capitol riot.

Dr. Anthony Fauci told military families that service members who refuse to take the Covid-19 vaccine are “inadvertently being part of the problem.”

Top Take-Aways

Combined with the sales of his champagne brand to LVMH, Jay-Z’s deal to sell a majority of Tidal to Jack Dorsey’s Square increases the fortune of hip-hop’s first billionaire to $1.4 billion, up from $1 billion. This isn’t Jack and Jay’s only collaboration. The two are also working together on a bitcoin-based fund for businesses in Africa and India.

What is an ultra-millionaire? A household or a trust whose net worth is over $50 million, according to Senator Elizabeth Warren’s newly introduced wealth tax, which proposes a 2% levy on such ultra-millionaires, rising to 3% for billionaires.

Papaya Global CEO and cofounder Eynat Guez did not expect to start raising funds just two months after completing a $40 million round. But with demand for future of work solutions at a pandemic-fueled high, she took the calls–and a fresh $100 million. 

Despite the toll the pandemic exerted on the hospitality industry, the Marriott group won’t make Covid-19 vaccinations compulsory for its workers—instead, it’s offering financial incentives to motivate employees to do so. 

Ad verification company DoubleVerify has uncovered a complex ad fraud scheme on connected TV devices, which they’ve called “SneakyTerra,” that is estimated to be costing advertisers more than $5 million a month.

The U.S. announced a four-month suspension of tariffs on a number of goods produced in the U.K., including single malt Scotch whisky. This is welcome news for Scotland, which counts whisky as its main export.

Logistics and fulfillment company Deliverr has raised a $170 million Series D led by Coatue with participation from Brookfield Technology Partners, Activant Capital, 8VC and GLP, bringing its total funding to $240 million.

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