Grammar Gold Mine | The Authentic Billionaire | America’s Largest Private Companies

Plus: How The Pandemic Hit Trump’s Retail Real Estate Empire

Good morning.

Who knew there was a gold mine in correcting other people’s grammar? Max Lytvyn and Alex Shevchenko, two of Grammarly cofounders, must have had an inkling—the spellchecking startup's latest funding round makes them billionaires. We’re also covering another newly minted billionaire, Authentic Brands Group founder and CEO Jamie Salter, and revealing our annual ranking of America’s largest private companies. Finally, take a look at how the pandemic has affected Donald Trump’s retail real estate empire in New York City.

The Forbes offices are closed Thursday, November 25 and Friday, November 26 for the Thanksgiving holiday. The Daily Dozen will return to your inbox on Monday November 29.

In The News Today

NASA and the European Space Agency (ESA) launched a spacecraft aboard a SpaceX rocket to crash into an asteroid to test whether this Armageddon-style mission could one day deflect a celestial body heading for Earth.

Covid-19 is now the leading cause of death in Europe, the WHO said, estimating that the death toll from the pandemic in the continent could top 2.2 million by March. 

Top Take-Aways

Grammarly’s recent $200 million funding round catapulted the popular grammar checking tool company’s value to $13 billion, minting billionaires out of two of its Ukrainian-born founders: Max Lytvyn and Alex Shevchenko.

Authentic Brands Group founder and CEO Jamie Salter opted to shelve an IPO after filing paperwork with regulators in July. Instead, he raised new funding in a round that valued the company at $9.5 billion—and his net worth at $1.1 billion.

Cargill is back on top of Forbes’ annual ranking of America’s largest private companies. The agribusiness firm dropped down to No. 2 last year, only the third time Cargill missed the top spot since Forbes began tracking the country’s private companies in 1985.

Pharmacies run by CVS, Walgreens and Walmart helped fuel opioid abuse in two Ohio counties, a federal jury ruled in the first verdict involving pharmacy chains among thousands of nationwide lawsuits over the opioid addiction crisis.

Fintech company Atom Bank is moving its staff to a four-day work week schedule—no pay cuts required. The British digital bank is the latest startup experimenting with new ways to work after the Covid-19 pandemic forced a reassessment of corporate work culture.

Uber’s small step into the cannabis market in Canada is a giant leap for the industry in North America, where the entry of such a large mainstream player in the market could mean big future rewards.

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Increased levels of gender, age, and racial diversity in the composition of boards of directors often leads to better financial results. Consider these seven ways to increase board diversity.

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