Plus: TikTok Won’t Say If It’s Giving ICE Your Data |
Good morning,
As the collective footprint of women in sports grows, for the first time, Forbes is tracking the power players.Forbes’ inaugural list of America’s Most Powerful Women In Sports features 25 game-changers, from NFL franchise owners like Gayle Benson to athletes and coaches, including tennis star Coco Gauff and South Carolina Gamecocks basketball coach Dawn Staley. There are also cultural icons, like Battle of the Sexes winner Billie Jean King. King was the first athlete in any sport to earn more than $100,000 in a year. “I have, I hope, a few years left here,” the 81-year-old King tells Forbes. “What do you think I should try to do?”
Let’s get into the headlines, |
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| ChatGPT maker OpenAI debuted its own web browser Tuesday, sending shares of Alphabet down 2%—though it will be difficult to compete with Google Chrome, which controls a massive 63.8% share of the internet browsing market. The ChatGPT Atlas browser will provide more seamless interaction with the chatbot, accompanying web users through a sidebar. MORE: As economists and investors debate whether the AI fever will eventually break, Forbes turned to the technology itself for answers. We asked seven chatbots whether there was an AI bubble, and their answers varied. While Grok said yes, noting that many AI startups “lack sustainable business models,” others defended the technology, like ChatGPT, which said “there may be an AI hype bubble, but not an AI value bubble.” |
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 | | Illustration by Samantha Lee for Forbes |
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| Earlier this year, TikTok quietly changed its policies about when and how it would share data with governments. As the company negotiated terms with the Trump Administration that would allow its app to continue operating in the U.S., it added language to its policies that covered data sharing not just with law enforcement, but also with “regulatory authorities, where relevant,” and weakened promises to inform users about government requests for their private data. Now, TikTok has repeatedly declined to answer questions from Forbes about whether it has shared or is sharing private user information with the Department of Homeland Security (DHS) or its investigative arm, Immigrations and Customs Enforcement (ICE). The policy changes, combined with the company’s silence about them, leave open the possibility that it could do so if asked. The Trump Administration has tried to exert leverage over many companies since the beginning of Trump’s second term, but the president’s control over TikTok is unique. The White House is working with Chinese Communist Party leader Xi Jinping to negotiate a sale of parts of TikTok’s U.S. business to a group of mostly U.S.-based investors, and any deal is subject to both Xi’s and Trump’s approval. Moreover, under U.S. law, TikTok should be banned in the United States. The only reason it’s online is because Trump has issued multiple executive orders instructing the Department of Justice not to enforce the ban law—a decision he could still reverse, if he has a change of heart. |
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| “The federal government has sought to amass coffers of data about immigrants and others sought by ICE and DHS,” says Forbes senior writer Emily Baker-White. “Few companies have as much valuable information about those people as tech giants like Meta, Google and TikTok, so it was curious to see the recent changes to TikTok's policy on when and how it will share info with law enforcement, and more curious to see the company ignore our questions about those same policies.” |
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| Companies are chafing at President Donald Trump’s planned $100,000 fee for H-1B visas, and Walmart halted job offers for candidates who require the visas. The decision primarily affects corporate workers, as the company currently employs just under 2,400 H-1B visa holders. Investors are retreating after flocking to metals like gold and silver this year as a safe haven amid economic uncertainty. The value of gold fell more than 5% on Tuesday, a selloff that’s not unexpected as the market experiences a “technical correction,” according to Standard Chartered analyst Suki Cooper. |
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| WEALTH + ENTREPRENEURSHIP |
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| Fueled by AI gains, Cathie Wood’s Ark Innovation ETF has surged more than 80% in the last year, outperforming every other ETF and mutual fund tracked by the American Association of Individual Investors aside from single-stock funds. Wood dismisses concerns about an AI bubble, even after her flagship fund collapsed after the Covid-19 stock surge. Joe Naggar, who leads one of crypto’s most successful investment teams, is formally spinning out his team at crypto-focused investment firm Republic to form an independent hedge fund with $300 million under management. The longtime crypto enthusiast made early bets in projects like Stacks, Algorand and Coinbase, and his new firm will focus on digital asset markets and frontier technologies. |
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| Hundreds of public figures signed a petition calling for a ban on the development of “superintelligence”—an advanced form of AI that is expected to surpass human cognitive ability. The petition, whose signatories include Billionaire Richard Branson, Apple co-founder Steve Wozniak and the Duke and Duchess of Sussex, Prince Harry and Meghan, says the moratorium should remain in place until there is “broad scientific consensus that it will be done safely and controllably.” |
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| President Donald Trump is seeking $230 million in compensation from the Justice Department for investigations into him during the Biden Administration, the New York Times reported. The potential payment—which could be approved by DOJ officials who have defended the president or are in his orbit—“has no parallel in American history,” per the Times. President Donald Trump said the government may distribute some tariff revenue to Americans soon, his latest suggestion to send tariff funds directly to taxpayers. It’s unclear how much could be doled out, but Trump told One America News Network this month his administration was “thinking maybe $1,000 to $2,000” checks, though a bill introduced in Congress would provide at least $600. |
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| Shares of Warner Bros. Discovery jumped 11% Tuesday following the company’s announcement that it is considering a sale after receiving interest from “multiple parties.” The media giant recently announced plans to split into two publicly traded firms, one with its streaming and studio assets and one with its global networks, and has reportedly drawn buyer interest from Paramount Skydance and Netflix. |
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| More than 100 investigators are looking for the thieves who stole jewels from the Louvre Museum in Paris over the weekend, which is among the most significant museum heists in recent memory. The museum’s security system was working at the time of the theft, France’s culture minister Rachida Dati said: |
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$102 million | The value of the crown jewels stolen, or an estimated 88 million euros | |
| Seven | The number of minutes it took for the thieves to steal the jewels, including less than four minutes inside the museum | |
| Nearly 30 | The number of years since the last theft occurred at the Louvre |
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| It’s never too late to make a career change—in fact, research shows that making a pivot in your 40s or 50s can still lead to higher earnings. Start by evaluating why your previous opportunity didn’t work for you—was it the role, company or broader industry? As you search for a new opportunity, use your experience as a competitive advantage and be sure to tap into your network. |
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| GAMES | | QUIZ | | Netflix will work with a game publisher to turn a popular board game into a number of film and TV projects. Which board game is it? | | A. | Monopoly | | B. | Ticket to Ride | | C. | Catan | | D. | The Game of Life |
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