The economy is in a depression. However, Jeff Bezos' net worth has increased. CNN reports that he's now worth nearly $172 billion, a new record for the world's richest person. This week, Bezos beat his previous wealth record that he reached prior to his divorce from his ex-wife MacKenzie. Much of Bezos' wealth is tied to Amazon. He owns roughly 57 million shares, or 12% of the company. And its stock has soared 56% year to date.
Amazon.com said on Tuesday it will launch a $2 billion venture capital fund that will focus on technology investments to reduce the impact of climate change and support sustainable development. Fred Katayama reports.
Japan’s amusement parks may not be as amusing as they used to be. Currently many of the country’s parks are open or reopening in the midst of the coronavirus pandemic. However, park officials are hoping to minimize the possible spread of COVID-19. They are asking customers not to scream while on rides, according to The Wall Street Journal. In order to give customers guidance on how to avoid screaming, the Fuji-Q Highland park made a video.
Dr. Anthony Fauci warned that the US is still in its first wave of the coronavirus. This warning comes as multiple states record their highest-ever daily new case totals. "People keep talking about a second wave. We're still in a first wave." Fauci to The Wall Street Journal Many countries that appear to have brought the virus under control are now worried. A possible second wave, where cases peak again, is very much a reality reports Business Insider.
CNBC reports that Instacart is raising $225 million. That boosts its valuation from $8 billion in 2018 to $13.7 billion. The company plans to use these new funds to support its partner grocers and shoppers, who fulfill orders for customers. They are also planning to improve conditions for its shoppers. DoorDash is also close to raising funds at a $15 billion valuation. DoorDash was valued at around $13 billion in 2019, according to The Wall Street Journal.
Car rental giant Hertz filed for bankruptcy in May due to the coronavirus pandemic. On Friday, a judge ruled Hertz can sell $1 billion in new stock to raise money. The Wall Street Journal reports that traders bought Hertz stock since its bankruptcy. The company's lawyers cited that volatility as a "unique opportunity" to shore up its coffers. After the Chapter 11 filing on May 22, shares of Hertz skyrocketed. The stock flew up Robinhood's list of most popular names.
Former Beatles drummer Ringo Starr ventured out in Beverly Hills on his 80th birthday on Tuesday (July 7) to wish the world 'peace and love', in what has become an annual ritual. Instead of an annual concert, Starr has gathered his friends together for an online performance called 'Ringo's Big Birthday Show', available on YouTube and AXS later on Tuesday.
Carl Reiner, the writer, actor, director and producer has died at age 98. His credits include "The Dick Van Dyke Show" and "The 2000-Year-Old Man." CNN reports that Carl's son, director Rob Reiner, announced his death in a tweet. "Last night my dad passed away," Rob Reiner wrote. "As I write this my heart is hurting. He was my guiding light." Carl Reiner died Monday of natural causes at his home in Beverly Hills, his assistant Judy Nagy told Variety.
Walmart is reportedly set to launch Walmart+ ...the company’s answer to Amazon Prime. Walmart + will go live later in July, after the coronavirus pandemic delayed its initial springtime launch. A Walmart spokesperson declined to provide further comment about Walmart+ to Business Insider. This is Walmart's latest bid to dominate e-commerce and fend off its online, Seattle-based rival. The $98 monthly subscription is rumored to include several perks, including...
Walmart is close to launching its membership program, in direct competition to online retail giant Amazon.com's overly popular Prime service, according to a published media report, citing sources. Conway G. Gittens has more.