AGP Executive Report
Last update: 9 hours agoNvidia Scrutiny: A shareholder lawsuit accuses Nvidia and CEO Jensen Huang of misleading investors about his relationship with a woman suspected of Chinese intelligence ties. Huang’s fortune fell about $6.5 billion as Nvidia shares slid, pushing him out of the world’s 10 richest. The allegations have not been proven. Markets and Rates: A hotter U.S. inflation reading renewed rate-hike worries and weighed on stocks, underscoring the pressure inflation can put on portfolios. Wealth Taxes: California voters rejected Proposition 40, a proposed one-time 5% tax on billionaires to help fund health care. Bernie Sanders says he will keep pushing for a federal wealth tax. Building a Fortune: Paul McCartney joined the billionaire ranks with an estimated $1.4 billion fortune, built in large part through music rights and publishing company MPL Communications.
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