President Zelensky’s Net Worth | Lululemon’s Male Appeal | South Korea’s 50 Richest People

Plus: Dry Weather Forecast Calls For Higher Food Prices And Billions In Farm Losses

Good morning.

Online claims that Ukrainian President Volodymyr Zelensky is a billionaire are more than a little off the mark—our colleagues in Ukraine estimate the former comedian's net worth to be $20 million at most. We’re also covering how a brand best known for yoga pants became a hit among men, and looking at the changing fortunes of South Korea’s richest 50 people. Finally, we examine how a record-breaking drought across the U.S. is reshaping American agriculture. 

In The News Today

Elon Musk’s The Boring Company announced it has raised $675 million in Series C funding to scale its underground Loop projects and develop a next generation tunneling machine.

Urged by the Centers for Disease Control and Prevention, the Department of Justice is appealing federal District Court Judge Kathryn Kimball Mizelle’s decision to throw out the federal mask mandate for airplanes and public transportation.

Top Take-Aways

Ukrainian President Volodymyr Zelensky is not a billionaire, despite what some corners of the internet may be claiming. The former actor and comedian is currently worth roughly $20 million at most, based on reporting by Forbes Ukraine.

Two attorneys representing former President Donald Trump in the Manhattan district attorney’s probe into his business practices have been paid $350,000 by the Republican National Committee for “legal and compliance services.”

Analysts are warning against buying the dip in Netflix shares, which plunged 35% following first-quarter results showing the streamer’s subscriber base had shrunk for the first time in a decade, as the company’s plan to revive subscribers’ growth will likely take years to reap results.

Lululemon may be most familiar as a retailer selling yoga pants to women, but the pace of revenue growth in the brand’s men’s clothing segment has far outstripped that of women’s in the past year.

Tesla reported its most profitable quarter in company history thanks to record deliveries, but ongoing supply chain challenges and slowed production in China related to the pandemic are likely to be a drag on operations for the time being. For now, however, CEO Elon Musk has unlocked a new reward tied to its lucrative 2018 performance award.

The combined wealth of South Korea’s 50 richest people fell to $130 billion this year, down from $156 billion last year. For the first time in a decade, none of the billionaires among the 50 richest has a double-digit fortune. 

Today's Must Read

In Case You Missed It

Fuel cell maker Plug Power signed a deal to supply Walmart with 20 tons of green hydrogen a day, enough to supply power to 25,000 forklifts, reducing the retail giant’s carbon emissions and dependence on fossil fuels. 

Tips You Can Trust

It only takes one toxic employee to turn a healthy workplace into one that everyone dreads. Toxic behavior comes in more than just one form—here are five to watch out for. 

According to a recent survey, 30% of those who left their jobs for greener pastures realized within 90 days of starting their new jobs that the grass isn't greener on the other side. If you’re thinking of quitting your job, consider these three steps before handing in your notice. 

Today's Must Watch

Recommendations
From Beyond The Newsroom

A Forbes subscription illuminates, informs and inspires. Join today to gain unlimited access to all our journalism and a front-row seat at exclusive subscriber-only events.