Trump’s Cash Pile | Africa’s Richest People 2022 | Bidding War For Kohl’s

Plus: Republican Congresswoman Nancy Mace Is On A Mission To Legalize Cannabis—And Amazon Just Got Behind Her

Good morning.

An investigation into the Trump Organization’s financial dealings offers insights into former President Donald Trump’s cash pile, which is smaller than what might be expected from a real estate billionaire. We’re also unveiling this year’s ranking of Africa’s richest people, and looking into what makes department store chain Kohl’s such an attractive takeover target. Finally, don’t miss this story on the latest efforts to end federal cannabis prohibition. 

In The News Today

A New York judge struck down the state’s mask mandate, ending a directive that was put in place in December to tackle the spread of the omicron coronavirus variant.

Researchers found one-year-olds whose mothers received a monthly income boost of $333 displayed stronger brain activity.

Top Take-Aways

The New York Attorney General’s investigation into the Trump Organization’s financial dealings, indicates that former President Donald Trump’s liquid assets stood at $93 million in 2020. That makes Trump far from cash poor. But he has less in the bank than many of his fellow real estate billionaires.

As a week-long selloff that’s pushed major indexes down to the brink of bear-market territory intensifies, investment banks are warning clients the worst may be yet to come, with some experts warning that the S&P 500 could plunge as much as 11%.

Bitcoin and cryptocurrency prices have crashed over the past week with around $1.4 trillion wiped from the combined crypto market. The fortunes of the wealthiest crypto investors and entrepreneurs have imploded along with the value of digital assets.

Unlike its competitors Macy’s and Nordstrom, department store chain Kohl’s has held fast to its sprawling fleet of stores, and it’s now been courted by suitors now looking to convert that real estate to cash.

One of the world’s most popular games, Grand Theft Auto Online, was used by a Mexican drug cartel to recruit a "mule" to haul methamphetamine across the border, as indicated by a previously unreported case in Arizona.

Africa’s billionaires are richer than they have been in years, despite the global pandemic. As a group, the continent’s 18 billionaires are worth an estimated $84.9 billion—a 15% increase from twelve months ago and the most since 2014.

Today's Must Read

In Case You Missed It

John Arrillaga, an early Silicon Valley real estate developer who bought orange groves in the 1960s and turned them into office parks—while turning himself and his business partner into billionaires—has died at age 84, according to his family.

Tips You Can Trust

So you want a career in tech but don't have any coding experience? Here are five entry level roles to get started in the industry.

To retain employees, do not neglect three aspects of the workplace: the culture, employee benefits, and growth opportunities.

Today's Must Watch

Recommendations
From Beyond The Newsroom