Commodities, Business & Shipping (and Tariffs)

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Week Ahead: Geopolitics, Tariffs, and Central Banks

Breaking Down and Making Sense of the Global Capital Markets with Political Economist Marc Chandler

www.marctomarket.com

 

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Self-made billionaire college dropout Alexandr Wang signs $14.3 billion deal to bolster Meta’s AI efforts: ‘There’s a huge premium to naivete’​

• Alexandr Wang, once the youngest self-made billionaire in the world, has agreed to join Meta to work on AI “superintelligence,” leaving the startup that made him rich after dropping out of MIT.

Alexandr Wang’s Scale AI just inked a $14.3 billion investment deal with Meta, which transitions the 28-year-old out of his CEO position at the startup he co-founded with fellow billionaire and estranged business partner Lucy Guo.

Wang announced Thursday on X that he’s leaving Scale AI to join Meta as part of an agreement that gives CEO Mark Zuckerberg’s tech company a 49% stake in the startup. Wang became the world’s youngest self-made billionaire at age 24, just five years after dropping out of college and creating the San Francisco-based company. Now, his estimated net worth is $3.6 billion.

“I started this company right out of freshman year of MIT and never looked back,” Wang wrote in his memo to Scale AI employees on Thursday. “I wouldn’t change a minute of it.”

More:

https://www.msn.com/en-us/money/com...emium-to-naivete/ar-AA1GHNm2?ocid=socialshare

 

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Schedule for Week of June 15, 2025

The key reports this week are May Retail Sales and Housing Starts. For manufacturing, Industrial Production, and the NY and Philly Fed man...

www.calculatedriskblog.com