Elon Musk’s War Chest | Carl Icahn Takes On McDonald’s | Airlines’ 180-Degree Turn

Plus: A Record Number Of Immigrants Have Become Billionaires In The U.S.

Good morning.

Elon Musk has disclosed the size of his Twitter war chest to the SEC, but shareholders are still not sold on the offer. As AGM season approaches, we look at investor Carl Icahn’s push to overhaul McDonald’s animal welfare practices. We’re also covering how lifting the federal mask mandate prompted some airlines to welcome back anti-mask passengers. Finally, in case you missed it when it was first published, take a look at how 2022 was a record year for the American foreign-born billionaires on the Forbes World’s Billionaires List.

In The News Today

Russia will try to assert full control over large swathes of eastern and southern Ukraine and could be targeting Ukraine’s neighbor Moldova, a commander of Russia's Central Military District (CFD) said on Friday.

France has reportedly issued an international arrest warrant for Carlos Ghosn, accusing the former Renault and Nissan CEO of taking Renault funds for personal use.

Top Take-Aways

The last time Elon Musk said he had secured funding to take a company private, it was a tweet about Tesla that resulted in a SEC lawsuit. This time, the announcement of the funding for Twitter’s takeover bid is through more official mediums, but shareholders are still not sold on it.

User growth at Snap, the company behind social sharing platform Snapchat, dispelled potential concerns about other performance indicators for investors, who sent the stock up 6% in after-hours trading—a rare respite for the beleaguered shares.

Billionaire investor Carl Icahn has doubled down on his effort to overhaul McDonald’s animal welfare practices, sending a letter to shareholders denouncing “glaring cruelty” in its supply chain and urging support for his two board nominees ahead of the fast food chain’s annual shareholder meeting.

Wealth management divisions offered bright spots in an otherwise rough first quarter for Wall Street’s biggest banks, but the golden age of financial advice, fueled by fees tied to growing assets, may not last too much longer.

Amazon’s new $1 billion industrial innovation fund is backing startup founders including a serial entrepreneur, a pair of Carnegie Mellon robotics Ph.D.s and the former head of claims at insurance giant AIG.

With the federal mask mandate no longer in place, America’s main carriers have welcomed back passengers who had been banned for refusing to follow the rules. Other airlines seem less inclined to forgive and forget quite yet.

Today's Must Read

In Case You Missed It

Iranian crypto entrepreneur Sina Estavi bought the non-fungible token (NFT) of Twitter cofounder Jack Dorsey’s first tweet for $2.9 million last year. When he tried to sell it again earlier this month for about $50 million, no one bid more than $280. The saga is not only of a lost fortune but buyer’s remorse and a bid for attention.

Tips You Can Trust

Feeling self-assured at work is key to staying motivated and satisfied. If you’ve been doubting yourself recently, here’s five strategies to build back your confidence.

You’ve found a new job, but it’s not meeting your expectations. What to do next? If you’re regretting that career move, consider these next steps.

Today's Must Watch

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