$70,000 In Debt Simping For E-Girls | Financial Audit

He’s hiding *a lot* from his girlfriend, so in todays post show, I made him finally call her and confront his lies… it blows up big time, she’s the most angry spouce I’ve ever talked too… watch here:

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Chapters:

00:00 Intro
08:46 what is bro on
28:14 he is way too old for that
45:04 lol
01:04:26 this f*cking guy
01:17:43 hold on now, traffic cones are kinda sick
01:33:00 i too wish i didn’t wake up

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The Compliance Gap: Unmonitored Tools and Unintended Consequences

 

---

October 2025 Capital Markets Regulatory Updates

31 October 2025: The U.S. Securities and Exchange Commission (SEC) issued an order granting temporary exemptive relief from certain compliance dates under Regulation NMS, extending deadlines to facilitate orderly market functions amid recent judicial review and operational challenges.

23 October 2025: The Financial Industry Regulatory Authority (FINRA) reviewed broker-dealer practices as part of a pump-and-dump probe, focusing on small-cap offerings and requesting detailed compliance documentation from firms involved in multiple offerings.

21 October 2025: The U.K. government consolidated AML supervision under the Financial Conduct Authority (FCA), reducing the role of the Solicitors Regulation Authority to address vulnerabilities identified by FATF and improve consistency in professional services oversight.

19 October 2025: Japan’s Financial Services Agency (FSA) signaled potential reforms to its crypto framework, including considering oversight under the Financial Instruments and Exchange Act (FIEA) and measures addressing market‑abuse risks.

16 October 2025: The European Securities and Markets Authority (ESMA) published its second consolidated report on sanctions, revealing over 970 administrative measures and fines exceeding 100 million euros in 2024, with most sanctions imposed under the Market Abuse Regulation. 

15 October 2025: The Securities Industry and Financial Markets Association (SIFMA) called on the SEC to relax recordkeeping rules for advisors and brokers, arguing that current regulations are outdated and create excessive compliance costs, especially as digital communications proliferate. 

15 October 2025: The German Federal Financial Supervisory Authority (BaFin) announced new restrictions on the marketing, distribution, and sale of turbo certificates (also known as Callable Bull/Bear Contracts or knock-out warrants) to retail investors, following a market investigation that revealed 74% of retail traders suffered losses totaling €3.4 billion.

14 October 2025: The FCA published a consultation paper outlining plans to support tokenization in asset management, including guidance for operating tokenized fund registers, a streamlined direct dealing model, and a roadmap to address regulatory barriers.

13 October 2025: ESMA published recommendations for significant amendments to regulatory settlement standards, including auto-collateralization, new trade allocation deadlines and machine-readable formats, to prepare the industry for the transition to T+1 settlement by October 2027 and enhance settlement efficiency across the EU.

8 October 2025: The Australian Securities and Investments Commission (ASIC) released its annual report, which revealed a 50% increase in investigations and strong growth in enforcement actions, including major inquiries into ASX governance, AI reviews and the takedown of thousands of scam websites.

6 October 2025: The New Zealand Financial Markets Authority (FMA) warned investors about deepfake pump-and-dump scams using impersonated business leaders and coordinated social media ads, urging caution and coordination with overseas regulators.

3 October 2025: ESMA published its 2026 Annual Work Program, focusing on streamlining rules, enhancing risk-based supervision and supporting the Saving and Investments Union (SIU) Strategy.

30 September 2025: The U.K. FCA released Market Watch 84, reviewing the implementation of the U.K. EMIR Refit and providing observations on change management, vendor oversight and error notifications. Firms are advised to align their derivatives reporting processes with updated standards to ensure compliance and transparency.

29 September 2025: The SEC and CFTC held a joint roundtable to discuss regulatory harmonization in the cryptocurrency sector, clarifying there are no plans for a merger and emphasizing a new era of collaboration to reduce duplication and regulatory uncertainty.  

 

---

Latest Fines and Enforcement Actions

• The FINRA fined Velocity Clearing $1 million for failing to establish and enforce a supervisory system capable of detecting manipulative trading activity, including spoofing and layering. The firm closed thousands of alerts without investigation, highlighting significant compliance and staffing deficiencies.
• The FINRA fined EFG Capital $650,000 for AML-related rule violations, citing failures in monitoring suspicious wire transfers and deficiencies in automated surveillance tools.
• The FINRA fined Ally Invest $850,000 for recordkeeping failures, including loss of millions of electronic communications and inadequate supervisory procedures.
• The FCA fined and banned an advisor for ITM Power Plc (ITM) for insider dealing in ITM Power Plc shares, citing abuse of position and failure to obtain permission before trading.
• The SEBI imposed penalties on 13 individuals for front-running trades, barring them from the market and imposing fines for unlawful gains made by trading ahead of large client orders.
• The SEBI impounded approximately $20.78 million USD and barred eight entities for insider trading linked to the IEX market-coupling leak, following a probe into trades made using confidential regulatory notifications.
• The Swedish Finansinspektionen (FI) launched an investigation into SEB’s handling of insider information during four major block trades in EQT shares.
• The SEBI settled front-running cases with multiple entities, imposing settlement charges and voluntary debarments for misuse of non-public information in trades linked to Societe Generale and Marcellus group.
• An Australian man was sentenced to 11 months imprisonment and fined $225,447 AUD for insider trading in Cann Group shares, exploiting non-public information about a share placement to profit and avoid losses.
• The Monetary Authority of Singapore (MAS) imposed a civil penalty of $50,000 SGD on the former Head of Margin at RHB Securities, for insider trading in Tee International and Tee Land shares, after he used non-public information to execute trades before a major sale announcement.
• The Hong Kong Securities and Futures Commission (SFC) submitted an application to freeze $394 million HKD in assets related to a ramp-and-dump scheme involving Grand Talents Group Holdings, aiming to secure compensation for victims and prevent further dissipation of funds. 

 

---

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Girl with brain🧠Quant finance explained #financetamil

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BoAT IPO. #news #India #shorts #stockmarket #finance

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Kevin O’Leary: Powell WON'T cut rates at Jackson Hole

‘Shark Tank’ investor Kevin O’Leary analyzes how the Federal Reserve might act ahead of meeting in Jackson Hole, Wyoming on ‘The Bottom Line.’ #foxbusiness #thebottomline #foxnews #usnews #news #media #breaking #usa #us #kevinoleary #thebottomline #federalreserve #jacksonhole #economy #investing #sharktank #financialnews #monetarypolicy #markets

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FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television. In 2025 it opened the year posting double-digit advantages across business day, market hours and total day viewers in January. Additionally, the network continued to lead business news programming, with each business day program placing among the top 15 shows, while FBN delivered its highest-rated month since April 2023 with market hours.

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The Gen Z Experience 🫠 (part 1) #shorts #finance

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The Compliance Gap: Unmonitored Tools and Unintended Consequences

 

---

October 2025 Capital Markets Regulatory Updates

31 October 2025: The U.S. Securities and Exchange Commission (SEC) issued an order granting temporary exemptive relief from certain compliance dates under Regulation NMS, extending deadlines to facilitate orderly market functions amid recent judicial review and operational challenges.

23 October 2025: The Financial Industry Regulatory Authority (FINRA) reviewed broker-dealer practices as part of a pump-and-dump probe, focusing on small-cap offerings and requesting detailed compliance documentation from firms involved in multiple offerings.

21 October 2025: The U.K. government consolidated AML supervision under the Financial Conduct Authority (FCA), reducing the role of the Solicitors Regulation Authority to address vulnerabilities identified by FATF and improve consistency in professional services oversight.

19 October 2025: Japan’s Financial Services Agency (FSA) signaled potential reforms to its crypto framework, including considering oversight under the Financial Instruments and Exchange Act (FIEA) and measures addressing market‑abuse risks.

16 October 2025: The European Securities and Markets Authority (ESMA) published its second consolidated report on sanctions, revealing over 970 administrative measures and fines exceeding 100 million euros in 2024, with most sanctions imposed under the Market Abuse Regulation. 

15 October 2025: The Securities Industry and Financial Markets Association (SIFMA) called on the SEC to relax recordkeeping rules for advisors and brokers, arguing that current regulations are outdated and create excessive compliance costs, especially as digital communications proliferate. 

15 October 2025: The German Federal Financial Supervisory Authority (BaFin) announced new restrictions on the marketing, distribution, and sale of turbo certificates (also known as Callable Bull/Bear Contracts or knock-out warrants) to retail investors, following a market investigation that revealed 74% of retail traders suffered losses totaling €3.4 billion.

14 October 2025: The FCA published a consultation paper outlining plans to support tokenization in asset management, including guidance for operating tokenized fund registers, a streamlined direct dealing model, and a roadmap to address regulatory barriers.

13 October 2025: ESMA published recommendations for significant amendments to regulatory settlement standards, including auto-collateralization, new trade allocation deadlines and machine-readable formats, to prepare the industry for the transition to T+1 settlement by October 2027 and enhance settlement efficiency across the EU.

8 October 2025: The Australian Securities and Investments Commission (ASIC) released its annual report, which revealed a 50% increase in investigations and strong growth in enforcement actions, including major inquiries into ASX governance, AI reviews and the takedown of thousands of scam websites.

6 October 2025: The New Zealand Financial Markets Authority (FMA) warned investors about deepfake pump-and-dump scams using impersonated business leaders and coordinated social media ads, urging caution and coordination with overseas regulators.

3 October 2025: ESMA published its 2026 Annual Work Program, focusing on streamlining rules, enhancing risk-based supervision and supporting the Saving and Investments Union (SIU) Strategy.

30 September 2025: The U.K. FCA released Market Watch 84, reviewing the implementation of the U.K. EMIR Refit and providing observations on change management, vendor oversight and error notifications. Firms are advised to align their derivatives reporting processes with updated standards to ensure compliance and transparency.

29 September 2025: The SEC and CFTC held a joint roundtable to discuss regulatory harmonization in the cryptocurrency sector, clarifying there are no plans for a merger and emphasizing a new era of collaboration to reduce duplication and regulatory uncertainty.  

 

---

Latest Fines and Enforcement Actions

• The FINRA fined Velocity Clearing $1 million for failing to establish and enforce a supervisory system capable of detecting manipulative trading activity, including spoofing and layering. The firm closed thousands of alerts without investigation, highlighting significant compliance and staffing deficiencies.
• The FINRA fined EFG Capital $650,000 for AML-related rule violations, citing failures in monitoring suspicious wire transfers and deficiencies in automated surveillance tools.
• The FINRA fined Ally Invest $850,000 for recordkeeping failures, including loss of millions of electronic communications and inadequate supervisory procedures.
• The FCA fined and banned an advisor for ITM Power Plc (ITM) for insider dealing in ITM Power Plc shares, citing abuse of position and failure to obtain permission before trading.
• The SEBI imposed penalties on 13 individuals for front-running trades, barring them from the market and imposing fines for unlawful gains made by trading ahead of large client orders.
• The SEBI impounded approximately $20.78 million USD and barred eight entities for insider trading linked to the IEX market-coupling leak, following a probe into trades made using confidential regulatory notifications.
• The Swedish Finansinspektionen (FI) launched an investigation into SEB’s handling of insider information during four major block trades in EQT shares.
• The SEBI settled front-running cases with multiple entities, imposing settlement charges and voluntary debarments for misuse of non-public information in trades linked to Societe Generale and Marcellus group.
• An Australian man was sentenced to 11 months imprisonment and fined $225,447 AUD for insider trading in Cann Group shares, exploiting non-public information about a share placement to profit and avoid losses.
• The Monetary Authority of Singapore (MAS) imposed a civil penalty of $50,000 SGD on the former Head of Margin at RHB Securities, for insider trading in Tee International and Tee Land shares, after he used non-public information to execute trades before a major sale announcement.
• The Hong Kong Securities and Futures Commission (SFC) submitted an application to freeze $394 million HKD in assets related to a ramp-and-dump scheme involving Grand Talents Group Holdings, aiming to secure compensation for victims and prevent further dissipation of funds. 

 

---

Related Content

2025 Nasdaq Global Compliance Survey 

Now in its 10th year, Nasdaq’s Global Compliance Survey captures insights from compliance leaders, providing a clear snapshot of an industry in rapid evolution. Discover how teams are leveraging emerging technology like AI while navigating regulatory complexity.

2025 Nasdaq Global Compliance Survey: Data Quality and Surveillance Effectiveness are the Top Priorities

Learn the key insights from Nasdaq’s 2025 Global Compliance Survey, highlighting how firms are prioritizing data quality, surveillance effectiveness and AI.

When One Trade Isn’t the Whole Story: Uncovering Cross-Product Manipulation

Market abuse increasingly spans multiple instruments, markets and regions—making it harder to detect with traditional surveillance methods. Download Nasdaq’s latest whitepaper, “When One Trade Isn’t the Whole Story: Uncovering Cross-Product Manipulation” to learn more.

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How did Qantas' $90m fine affect its share price? | Finance Report | ABC NEWS

Qantas’ $90m outsourcing fine saw investors reduce its market value, but the fall was offset somewhat by a global rally in airline stocks. The rest of the local sharemarket finished flat and the Aussie dollar went up a touch.
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Explained | The Stock Market | FULL EPISODE | Netflix

In partnership with Vox Media Studios and Vox, this enlightening explainer series will take viewers deep inside a wide range of culturally relevant topics, questions, and ideas. Each episode will explore current events and social trends pulled from the zeitgeist, touching topics across politics, science, history and pop culture — featuring interviews with some of the most authoritative experts in their respective fields.

In this episode: Does the stock market accurately reflect the status of the economy? Finance specialists discuss market history, valuations and CEO incentives.

US Rating: TV-MA. This show is designed for for mature audiences only.

For more information and educational resources, please visit:

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Netflix is the world’s leading streaming entertainment service with over 167 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.

Explained | The Stock Market | FULL EPISODE | Netflix

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RBI ने Tata Sons को लिया अपने निशाने पर! #shorts #businessnews #finance

Rahul Malodia is a professional CA, Management Consultant, And Business Coach. He started a revolution for Businessmen, with a mission in his eyes of Business Freedom. He begins with a basic session where you will find every aspect of your business. It is applicable to every business, be it big or small.

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Credit card companies are jacking up annual fees for airport lounges

For every passenger trying to decide if a $17 slimy ham and cheese croissant and their phone’s 34% remaining battery will sustain them for a four-hour layover, there’s someone smugly sipping a complimentary gin and tonic in a secret luxury lounge.

Once a refuge for frequent business travelers, airport lounges are increasingly becoming more popular (and crowded) with casual travelers, encouraging some companies to create even more exclusive spaces—or raise the barrier to entry:

• Capital One opened its largest lounge (13,500 square feet) in June at NYC’s JFK Airport, complete with Ess-a-Bagels and a designated cheesemonger (as well as classic lounge amenities, like shower suites and a cocktail bar).
• Over half of JFK’s overall Terminal 4 lounge space has been added in the last two years.

How much would you pay for exclusivity?

The increase in global airport lounge visits in 2024 (31%) has outpaced growth in air traffic overall (10.4%) compared to the previous year. And access isn’t cheap. United charges $750 annually for individual access to its airport lounge network. Amex recently announced that the annual fee for its Platinum card—which includes the perk of lounge access—is increasing from $695 to $895. And one of the most popular travel perk cards, the Chase Sapphire Reserve, just ratcheted up its annual fee from $550 to $795.—MM

This report was originally published by Morning Brew.

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The Biggest Cybersecurity and Innovation Risks in Financial Services

 

World Housing Solution manufactures rapidly deployable and reusable thermally efficient structures and shelters for the U.S. military, NGOs, and first responder industries. Amid a housing shortage in the U.S., how rapidly deployable shelters (RDS) or modular housing help to solve this crisis?

Rapidly deployable shelters and modular/factory manufactured housing directly address the U.S. housing shortage by combining speed, scalability, and efficiency. Unlike conventional construction, which can take 12–24 months and depends on scarce labor and weather conditions, these solutions are manufactured in controlled environments within weeks, transported flat or volumetrically, and installed in days. Their thermally efficient, hurricane-rated structural panels ensure durability and resilience, while controlled production reduces waste and lowers lifecycle costs. The result is safe, affordable homes delivered faster, helping communities meet urgent housing needs without sacrificing quality or long-term sustainability.

What are some of the lessons that you have learned from WHS’ governmental work that can apply to commercial housing? 

Through its work with the U.S. military and first responders, World Housing Solution has learned that housing must be fast, resilient, and reliable under the toughest conditions. Structures designed to perform in hurricanes, deserts, or arctic climates, and to deploy in days rather than months, translate directly into safer, more efficient homes for American families. Lessons in energy efficiency, flexible design, and strict compliance mean these shelters not only lower costs and adapt to diverse needs but also exceed many civilian building standards. In short, what works on the front lines is exactly what’s needed on the home front.

Over the past few years, AI has moved to the forefront of innovations across industries. How do you think AI will transform infrastructure and housing developments?

AI is set to transform housing at every stage, from design to long-term use, and World Housing Solution is already applying it inside its modular units. Generative AI can optimize layouts and forecast housing demand, while AI-driven scheduling and robotics improve manufacturing speed and reduce waste. Once homes are built, predictive maintenance and smart energy systems lower costs and improve efficiency for families. Perhaps most exciting is the use of digital twins, virtual replicas of buildings that simulate performance in hurricanes, heat, or cold before construction even begins. This military-grade precision means faster production, lower costs, and homes that are smarter, more resilient, and more sustainable from day one.

From your perspective, what regulatory clarity is needed to scale AI use within infrastructure projects? 

The biggest barrier to scaling AI in infrastructure isn’t technology, it’s the uncertainty around governance. Clear rules on data use, safety standards, and accountability are essential for AI to realize its potential in housing. That means setting benchmarks for cybersecurity, privacy, and certification, just as building codes do today, while updating permitting frameworks to accept AI-validated designs. At World Housing Solution, we see tremendous opportunity in AI and are eager to work with partners and policymakers to build the safeguards that allow innovation to scale responsibly.

Do you have any unique predictions on the outlook of the housing?

The U.S. housing market is on the verge of a revolution. Within the next decade, factory-built modular and volumetric housing could make up nearly half of new construction, up from just a fraction today, making traditional stick-built homes look increasingly outdated. These homes will be designed for climate resilience, net-zero energy, and faster, AI-driven development enabled by digital twins. As policymakers begin treating housing as critical infrastructure, modular systems will also pave the way for greener, adaptable communities at scale. The bottom line: industrialized, sustainable, and digitally enabled housing is the future, and World Housing Solution is positioned to lead that transformation.

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RBA hotly tipped to reduce interest rates | Finance Report | ABC NEWS

The ASX 200 closed 0.4 per cent higher at a new record as investors piled into miners and banks ahead of tomorrow’s RBA rates decision.
The central bank is tipped to reduce interest rates after holding steady at the previous meeting and shocking markets.
Meanwhile, the big winners of the day were lithium producers, buoyed by the closure of a major Chinese mine, while JB Hi-Fi was sold off despite announcing a solid increase in profit and a special dividend for investors.

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Peter Thiel warns if you ‘proletarianize the young people,’ don’t be surprised they end up communist

PayPal cofounder and Silicon Valley venture capitalist Peter Thiel doubled down on his worries about generational conflict and the future of capitalism after a similar warning he issued in 2020 proved eerily prescient.

After Tuesday night’s election victory of democratic socialist Zoran Mamdani as New York City’s mayor, an email Thiel sent five years ago went viral.

In the correspondence to Mark Zuckerberg, Marc Andreessen and others, he warned that “When 70% of Millennials say they are pro-socialist, we need to do better than simply dismiss them by saying that they are stupid or entitled or brainwashed; we should try and understand why.”

Thiel expanded on those concerns in an interview with the Free Press that was published on Friday, saying strict zoning laws and construction limits have been good for boomers, who have seen their properties appreciate, but they have been terrible for millennials, who are having an extremely hard time buying homes.

“If you proletarianize the young people, you shouldn’t be surprised if they eventually become communist,” he explained.

While Thiel, who backed Donald Trump’s re-election, disagrees with Mamdani’s answers to New York’s housing affordability problems, he credited the lawmaker for talking about the issue more than establishment figures have been.

He also said he’s not sure if young people are actually more in favor of socialism or if they have become more disillusioned with capitalism.

“So in some relative sense, they’re more socialist, even though I think it’s more just: ‘Capitalism doesn’t work for me. Or, this thing called capitalism is just an excuse for people ripping you off,’” Thiel added.

Affordability politics

While Mamdani’s victory highlighted voters’ shift away from Republicans, moderate Democrats also won with campaigns that focused on the cost of living.

The off-year election results were a “wake-up call” for both parties to tackle the affordability crisis, according to polling expert Frank Luntz, who distinguished it from inflation.

Thiel expressed some sympathy for voters seeking bold ideas to solve daunting problems like student debt and housing costs, which previously have been addressed with “tinkering at the margins.”

Such incremental attempts haven’t worked, spurring voters to warm up to proposals outside the typical political discourse, including “some very left-wing economics, socialist-type stuff,” Thiel said.

As a result, he’s not surprised that voters have gravitated toward Mamdani, even though he doesn’t think his ideas will work either.

“Capitalism is not working for a lot of people in New York City. It’s not working for young people,” Thiel said.

‘Old people’s socialism’

He also observed that the growing popularity of socialism among younger Americans comes amid a “multi-decade political bull market.”

This era of increased political intensity comes as people have started looking more to politics to fix their problems, according to Thiel, who leans more libertarian. 

Part of that is due to a huge mismatch between people’s hopes and reality, with that chasm growing bigger than ever.

“There are some dimensions in which the millennials are better off than the boomers. There’s some ways our society has changed for the better,” Thiel said. “But the gap between the expectations the boomer parents had for their kids and what those kids actually were able to do is just extraordinary. I don’t think there’s ever been a generation where the gap has been as extreme as for the millennials.”

But when asked if a revolution is on the horizon, he said he thinks that’s hard to believe, given that communism and fascism are “youth movements.”

At the same time, America’s aging demographics are marked by fewer young people, who are not having as many children.

“And so, we have more of a gerontocracy. Which means that if the U.S. becomes socialist, it will be more of an old people’s socialism than a young people’s socialism, where it’s more about free healthcare or something like that,” Thiel added. “The word ‘revolution’ sounds pretty high testosterone and violent and youthful. And today, if it’s a revolution, it’s 70-something grandmothers.”

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Should You Invest in Gold Monthly Schemes? 🪙 #goldinvestment #gold #finance

Should You Invest in Gold Monthly Schemes?
#goldinvestment #gold #goldinvestment2025 #monthlysavings #financetips #investmentadvice #financialeducation #moneymanagement #smartinvesting #goldscheme #finance #wealthbuilding #personalfinance #goldsaving #finvision

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The last monkey on the loose among several that escaped after a Mississippi highway crash has been found and captured

The last monkey on the loose among several that escaped after a Mississippi highway crash has been found and captured, authorities said Thursday.

A resident who lives near the crash site called authorities to report the animal’s location and it was then “successfully recovered,” the Mississippi Department of Wildlife, Fisheries, and Parks said in a statement to The Associated Press.

It was the last monkey on the loose from the Oct. 28 crash when the truck overturned on Interstate 59. Five monkeys were killed as law officers hunted for them in the immediate aftermath of the crash. Video from officers’ body-worn cameras showed a chaotic scene as monkeys that escaped from their wooden crates dashed around the grassy interstate median, with some running toward cars and semis on the interstate.

Two other monkeys that eluded officers at the crash site were later shot and killed by civilians, who said they were protecting their families and neighborhoods. Officials had warned residents not to approach the Rhesus monkeys, saying they are known to be aggressive.

The last monkey on the loose was found Wednesday afternoon near a home in the Vossburg area, just east of where the truck had wrecked. Brandy Smith saw the monkey when her dog started barking, she told WDAM-TV. Her neighbors called 911. Workers from one of the companies that had been transporting the truckload of monkeys across the country arrived to tranquilize the monkey, Smith said.

The monkeys had been housed at the Tulane University National Biomedical Research Center in Louisiana, which routinely provides primates to scientific research organizations, according to the university. Tulane has said it wasn’t transporting the monkeys and they do not belong to the university.

PreLabs, which describes itself on its website as a biomedical research support organization, said in a statement that the animals were being lawfully transported to a licensed research facility. It said the monkeys weren’t carrying any known diseases. Thirteen of the monkeys that were not killed arrived at their original destination last week, according to Tulane.

The escape is the latest glimpse into the secretive industry of animal research and how contracts demanding confidentiality prevent the public from knowing key facts about studies involving animals.

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Trump: U.S. 2️⃣ days away from sending EU tariff letter

Trump: U.S. 2️⃣ days away from sending EU tariff letter

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Hundreds of billionaires pledged to give away $600 billion to charity—but the Bill Gates and Warren Buffett era of philanthropy may be over

Bill Gates and Warren Buffett ushered in a new Gilded Era of philanthropic giving, likened in influence to the Rockefellers and Carnegies. But charity work is about to look very different as higher taxes are threatened on liberal institutions, and new methods of giving are popularized by women mega-donors. MacKenzie Scott has become a pioneer in the cultural shift, gifting more than $200 million to HBCUs and charitable causes in recent months.

Earlier this year, the world of philanthropy was shaken up when Gates announced that he would be sunsetting his foundation, giving away $200 billion by 2045 and expediting the plan to shed his $100 billion personal fortune.

“There’s an air of anticipation in terms of if and how people are going to follow in his footsteps,” Amir Pasic, dean of the Lilly Family School of Philanthropy at Indiana University, told Fortune in May. 

And with prolific 94-year-old philanthropist Buffett departing from the helm of Berkshire Hathaway at the end of this year, even more change is expected. His Giving Pledge, signed by more than 250 billionaires across 30 countries who reportedly pledge a pool of at least $600 billion, opened the hearts and pockets of the ultra-rich. But the question arises if billionaires will pick up the torch and stay true to their promises once Buffett inevitably parts from the pledge’s limelight. 

Experts agreed a shift is on the horizon—but that doesn’t mean a screeching halt to philanthropy altogether. In fact, it could open the door for a more diverse group of donors to take the lead.

“We’re likely to see more women come out of the shadows,” Pasic predicted.

How philanthropy will look in a new era

Many billionaires have started foundations as a way to channel their philanthropic efforts, but a recent decision from the U.S. House of Representatives may upend that practice. This May, a budget reconciliation package was approved, which stipulated a tax of 10% on foundations with more than $5 billion in assets.

“The reason this is insidious is that it’s going to really hit the big liberal foundations like Gates, Ford, and Soros,” Kathleen McCarthy, director for the center on philanthropy at CUNY, told Fortune earlier this year. “Whereas the conservative foundations are much smaller and they will pay a much lower rate.”

Thousands of liberal foundations led by billionaires including Gates, Scott, George Soros, and Mark Zuckerberg could be hit hard by these tax hikes. This could entirely change how billionaires approach philanthropy. 

“[Billionaires] will start looking at alternative mechanisms once they realize that they’re going to be forced to sunset foundations,” McCarthy said. “That’s what’s being jeopardized right now.”

But some ultrawealthy donors are already rewriting the rules. Scott’s “stealth giving” practice entails giving unrestricted money directly to nonprofits, trusting them to handle the funds as they see fit, with no strings attached. 

According to McCarthy, as billionaires are driven away from the foundation-based model, they are pulled toward alternative ways of giving. This includes being inspired by Scott’s inconspicuous and direct donation strategy as a way to get around new tax policies.

“I think she’s a trendsetter and sort of moral ballast to the way that Gates has been,” Bella DeVaan, associate director of the charity reform initiative at the Institute for Policy Studies, told Fortune. “I do see that being not just a trend, but shifting common sense toward trust-based philanthropy.”

Scott donates through her Yield Giving foundation, which has distributed more than $19.25 billion to date across 2,450 nonprofits, and experts said billionaires could be inspired by direct donating. DeVaan also predicted that Melinda French Gates will be a pioneer of the philanthropic LLC, an alternative to traditional foundations.

Charity specialists have pulled on a common thread of who is innovating philanthropy, and how the general makeup of mega-donors is changing: Women are in the spotlight. With more than 200 new billionaires minted in 2024 alone, nearly four every week, more players are entering the field and some women are stepping into immense wealth. The status quo of philanthropy is changing, and women are front and center.

Women are becoming the new philanthropic frontrunners 

When tasked with naming the rising stars of philanthropy to fill the big shoes of Gates and Buffett, experts have already pointed out few frontrunners. The one person on everyone’s mind: charitable vagabond MacKenzie Scott.

This past Sunday, historically Black college Howard University shared Scott had donated $80 million—one of the biggest single donations in its 158-year history. In September, Scott also gave $70 million to UNCF, America’s largest private provider of scholarships to Black students, as part of a $1 billion campaign. She’s also fighting Trump’s budget cuts to FEMA, as the Center for Disaster Philanthropy (CDP) announced last month it received a $60 million gift from Scott to support struggling communities that are crippled by natural disasters.

“This is a woman making a pretty bold statement about how she’s going to give her money away: by trusting the recipients, and not asking for any reporting back,” Pasic said. “She’s in contrast to the very technocratic way that Bill Gates has approached matters.”

Experts also threw out names like French Gates, who also played a pivotal role in the Gates Foundation and continues to be a leading voice in giving. Meanwhile, Zuckerberg and his wife Priscilla Chan are pouring out money to innovate human health. They also note that women have long been benevolent philanthropists, only behind the scenes; Madam C.J. Walker, an African American woman who became the first self-made female millionaire, was a prominent donor at the turn of the 20th century. 

And in 2025—when U.S. women have even more access to wealth and power than ever before—this group will only be supercharged.

“You’ll see women becoming much more prominent mega-donors,” McCarthy said. “They’re very comfortable handling money. They’re very comfortable doing research, and they’re looking for ways to change the system.”

 A version of this story originally published on Fortune.com on May 24, 2025.

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Are you donating your wealth, or planning to give it away? Fortune wants to hear from you! Reach out at emma.burleigh@fortune.com

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Zohran Mamdani’s signature housing policy is widely loathed by economists. Here’s why

New York City Mayor-elect Zohran Mamdani swept to victory Tuesday evening on a platform of affordability, anchored by a plan to freeze rents across nearly 2 million rent-stabilized apartments. 

But economists, universally, hate rent control. In a 2012 poll of top economists, just 2% agreed that rent-control laws have had “a positive impact” on the supply and quality of affordable housing. The Nobel laureate Richard Thaler even quipped in the survey that the next question should be: “Does the sun revolve around the Earth?”

Why do economists revile a plan that seems to promote fairness and equity in a housing market that is clearly broken? 

Seductive simplicity

To most voters, freezing rents looks like common sense: If prices are out of reach, stop them from rising. But to economists, that’s like treating a fever by breaking the thermometer: It suppresses the symptom without curing the disease, the persistent shortage of housing.

“Freezing rents doesn’t fix scarcity,” said David Sims, a Brigham Young University economist whose research on Massachusetts rent control remains a touchstone. “It just reshuffles who bears the cost.”

Sims’s work examined the rent-control regime that once governed Cambridge, Mass., where tenants could stay indefinitely at below-market rents. The policy was meant to keep housing affordable, but it led to what he calls misallocation. 

“People who could do better by moving tend to stay,” he told Fortune. “Older households hang on to large units they no longer need, while young families can’t find space. Over time, you end up with the wrong people in the wrong apartments.”

When Massachusetts voters repealed rent control in 1994, property values in Cambridge rose 45%—not only for the deregulated apartments, but for entire neighborhoods. It turned out that years of capped rents had discouraged investment and dragged down surrounding property values, meaning that when controls were finally removed, landlords were empowered to upgrade and renovate their apartments. Neighborhoods that had been frozen along with the rents suddenly seemed to revitalize.  

That dynamic is already visible in New York. According to the city’s Housing and Vacancy Survey, roughly 26,000 rent-stabilized apartments are sitting empty, many uninhabitable because renovation costs far exceed what landlords can legally recover. The state’s 2019 Housing Stability and Tenant Protection Act caps recoverable renovation expenses at $50,000 spread over 15 years. Rehabilitating a century-old tenement can cost twice that, leaving owners little incentive to do anything but lock the door.

Short-term relief, long-term pain

Rent control’s immediate benefits, for current residents, are undeniable. It offers stability to tenants living paycheck-to-paycheck and reduces the risk of displacement. But over the long term, economists argue it functions the same way as throwing sand in the gears of the housing market. Landlords defer maintenance they can’t recoup, new construction slows, and the available housing stock quietly erodes.

A 2018 Stanford study led by Rebecca Diamond, one of today’s leading experts in housing markets, found that when San Francisco expanded rent control in the 1990s, the supply of rental housing fell 15% over the next decade. Many landlords converted apartments to condos or owner-occupied housing to escape regulation. The policy helped existing tenants, but ultimately raised market rents citywide and accelerated gentrification, causing the opposite of what policymakers intended.

“It’s not about pitying landlords,” Sims said. “It’s about understanding incentives. You can’t expect people to invest in something if they’ll never break even—just like you can’t expect tenants to volunteer to pay more rent.”

For economists, the deeper problem with rent freezes is conceptual: They imply that affordability can simply be decreed against the logic of supply and demand. 

“It creates this belief that the problem can be solved by fiat,” Sims said. “But rents are high because people want to live in New York. The only lasting fix is to make it easier to build more housing that people actually want.”

He offers a visceral analogy of market pressures: Black Friday. People don’t wait in line for stores anymore on Black Friday, Sims said, but there was a time when, for a $1,000 TV at $200, there’d be a line around the block at 4 a.m., and only a few lucky people would get the TV.

“But housing isn’t like a $200 TV,” Sims observed. “Everyone kind of needs a place to live, but if housing is priced like the $200 TV, then there’s a bunch of people in that line who don’t get it.”

That’s the thing about rent control, economists say: It benefits insiders at the expense of outsiders. Over time, it can deepen inequality by keeping younger, lower-income, or newly arrived residents locked out of regulated neighborhoods that effectively become closed clubs.

Band-Aid policy in a broken market

Supporters of Mamdani’s plan counter that New York’s crisis is so severe, temporary freezes are a moral necessity. 

With median rents above $4,000, they argue, the city cannot wait for zoning reforms and construction projects that take years to materialize. But even sympathetic economists warn that without parallel measures to boost supply, a freeze simply defers the reckoning.

“If you don’t pair a rent freeze with a credible plan to add housing,” Sims said, “you’re not solving the problem. You’re just pushing off accountability without really solving the underlying problem.”

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