How Bad Will Inflation Get? | Welcome To ‘Billionaires’ Dirt Road’ | Bulgaria’s First Billionaires

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Good morning.

The Federal Reserve continues to insist high inflation is "transitory," but experts interviewed by
Forbes largely disagree. We’re also reporting on what makes the bucolic town of North Salem a favorite among the ultra-wealthy and Bulgaria's first billionaires. As we prepare to unveil our annual 30 Under 30 list on Wednesday, we catch up with Spotify’s Daniel Ek, a member of the list’s inaugural class, to talk about the streaming service’s stellar success this past decade.

Sofia Lotto Persio

Sofia Lotto Persio

Curator-In-Chief | Twitter

In The News Today

Having previously expressed an interest in seeking public office, actor Matthew McConaughey says he will not be running for governor of Texas in 2022.

The first cases of omicron coronavirus variant were confirmed in North America, as several countries impose drastic new travel restrictions in a bid to stem its spread.

Top Take-Aways

You may have heard of North Salem, located just 55 miles north of New York City, when Jennifer Gates walked the bridal path in the equestrian-friendly area. Bill and Melinda Gates’ daughter isn’t the only wealthy resident of the bucolic Westchester town.

Bulgaria has claimed its first ever billionaires, brothers
Kiril and Georgi Domuschiev. They own Huvepharma, the world’s sixth-largest livestock health firm, with operations stretching from a vaccine factory in Lincoln, Nebraska, to a pharmaceuticals plant in northwestern Italy.

As the Federal Reserve's stance on
rising inflation faces mounting criticism, market experts and economists interviewed by Forbes largely think higher inflation is here to stay.

Trevor Milton, the embattled former chairman of Nikola Motor, has offloaded a massive stake of the electric truck maker in recent months, selling nearly $300 million worth of stock since he pleaded not guilty to three counts of criminal fraud charges this summer.

Fabricating vaccine results is a concern among employers, with a new survey ​​finding 28% of unvaccinated workers would consider lying about their vaccination status or falsify documents in order to keep their jobs.

Virgil Abloh’s death at 41 deprives the fashion world of one of its most innovative talents. He became first Black designer to helm Louis Vuitton’s menswear collection in 2018 after founding luxury streetwear company Off White in 2012. His iconic pieces range from a glittering harness to an IKEA rug.

Today's Must Read

 
Spotify Has Plans To Move Beyond Music And Become The Instagram And TikTok Of Audio
 
 
 
Spotify Has Plans To Move Beyond Music And Become The Instagram And TikTok Of Audio

Daniel Ek convinced labels and artists to stream their songs on Spotify, reviving the flatlining music industry. Now, after amassing a $4.4 billion fortune, he’s opening his super streamer to storytelling, live talk and a new breed of audio creators in a bid to own the world’s digital eardrums.

Read The Full Story →
 

In Case You Missed It

Cybersecurity researchers warned a third of all of the world’s smartphones and internet of things devices were left open to remote snooping due to a vulnerability in a chip manufactured by $60 billion market cap Taiwanese tech giant MediaTek.

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Tips You Can Trust

Mistakes happen and there’s little point in feeling upset—focus instead on making sure they don’t happen again.

When considering a career change, knowing what to do next is half the work. These seven steps can help figuring out what path to take next.

Today's Must Watch

 
This College Professor Became An Overnight Billionaire Fighting Covid | Forbes
 
 
 

Features

This College Professor Became An Overnight Billionaire Fighting Covid | Forbes
 

AbCellera Biologics’ Carl Hansen scored big helping Eli Lilly find antibodies to treat symptoms of Covid-19.

Watch
 

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From Beyond The Newsroom

 
2021 Forbes Power Women’s Summit
 
 
 

ForbesLive

2021 Forbes Power Women’s Summit

Join us for the 2021 Forbes Power Women’s Summit taking place virtually on Thursday, December 9 at 11 a.m. ET | 8 a.m. PT. As we chart a course toward a post-pandemic world, the Summit will explore how today’s most dynamic changemakers are leading a new way forward and building a more equitable future. The Summit voices will include: Aurora James, founder and creative director, Fifteen Percent Pledge and Brother Vellies; Jane Goodall, founder, Jane Goodall Institute and UN messenger of peace; Rosalind Brewer, CEO, Walgreens Boots Alliance; Allyson Felix, five-time Olympian, 11-time Olympic medalist, founder and president, Saysh; Naomi Campbell, supermodel and activist; Lindsey Vonn, former Olympic skier and founder, Lindsey Vonn Foundation; and more. Register for free today!

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