Author: Money Mechanics

Key Takeaways According to Guinness World Records, between 2021 and 2023 Elon Musk suffered the greatest loss of a personal fortune in history. His loss, which was on paper and due primarily to a drop in Tesla’s share price, amounted to nearly $200 billion. Since that time Musk has recouped his losses and is believed to be the world’s richest man by a considerable margin. Elon Musk is referred to as “the world’s richest man” so frequently that you might think he trademarked the phrase. But the South Africa-born billionaire also holds another distinction: the largest loss ever of a…

Key Takeaways Kansas City Chiefs tight end Travis Kelce has a net worth of about $90 million, according to Celebrity Net Worth.In 2024, Kelce signed a new two-year $34.2 million deal with the Chiefs, with an average yearly salary of $17 million.Kelce has partnered with brands including Nike, Bud Light, State Farm, Experian, Pfizer, and DirecTV, among others.Kelce’s investments include Formula One racing team, Alpine, Cholula Hot Sauce, Hydrow, PlayersTV, and RealTruck. Kansas City Chiefs’ Travis Kelce is among the top three highest-paid tight ends in the NFL as of 2025. He was the highest-paid tight end in the 2024…

Key Takeaways U.S. equities were slightly higher at midday following the release of more corporate earnings reports and as the market waited for today’s financial results from Nvidia.Kohl’s beat profit expectations and raised its outlook as the retailer’s turnaround plan lifted results.High coffee prices led J.M. Smucker to a quarterly loss. U.S. equities were higher and little changed at midday as the market weighed the latest corporate earnings news and awaited this afternoon’s key report from Nvidia (NVDA). The Dow Jones Industrial Average, S&P 500, and Nasdaq were all up.  Kohl’s (KSS) shares took off after the struggling retailer easily…

Key Takeaways Car insurance costs are expected to continue rising in 2025.Factors such as climate disasters, rising repair costs, and changes to your personal situation can drive up the cost of premiums.You may be able to save hundreds by dropping comprehensive or collision coverage, or more than $1,100 by cutting both. Comprehensive and collision insurance aren’t required if you’ve paid off your vehicle, but some personal circumstances can make it wise to carry them. If you have a car, you’ve probably noticed your insurance rates have been going up in recent years. Costs rose 15% in 2024, according to Insurify…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A former top German central banker is set to lead the supervisory board of the country’s most valuable fintech N26 as part of a leadership reshuffle that aims to resolve a conflict between investors and founders.Andreas Dombret, a one-time Bundesbank executive board member, “is to be nominated by the founders and several investors” as the new chair of N26’s supervisory board, the bank told the Financial Times, adding that it would convene “an extraordinary general meeting in the near future to formalise…

(NASDAQ:NVDA), the undisputed leader in AI accelerators and graphics processing units (GPUs), is set to report its fiscal second-quarter results after market close at 4:20 PM ET today. A call with CEO Jensen Huang and CFO Colette Kress is scheduled for 5:00 PM ET. Consensus expectations indicate another period of standout growth, as the tech behemoth capitalizes on the dominant demand for AI infrastructure and accelerated computing.NVDA shares are currently trading at $181.72, valuing the Santa Clara-based chip titan at a market cap of roughly $4.4 trillion and making it the most valuable company in the world. Implied volatility points…

Liberty Mutual Reinsurance (LM Re) part of Liberty Mutual Insurance Group, and Safehub, a provider of seismic sensor and risk management technology, have launched a new earthquake parametric insurance solution that will help reduce basis risk for parametric re/insurance policies.One of the central challenges of parametric re/insurance is basis risk – the potential mismatch between a policy’s trigger and the actual losses experienced by the insured. This new solution, ShakeNet Parametric, backed by capacity from Liberty Mutual Re, is reportedly triggered by the highest-resolution regional shaking data available globally. “At the core of this product is Safehub’s ShakeNet, a global…

Key Takeaways The S&P 500 added 0.2% on Wednesday, Aug. 27, 2025, reaching a record close as investors positioned themselves ahead of the much-awaited earnings release from Nvidia.Shares of lithium producer Albemarle moved higher after UBS upgraded the stock, highlighting an improved outlook for lithium prices.Paramount Skydance stock lost ground as analysts cited concerns about its valuation and the company’s ability to balance its linear and direct-to-consumer offerings. Major U.S. equities indexes moved higher Wednesday as investors anticipated the release of a quarterly update from semiconductor giant Nvidia (NVDA) after the closing bell. The S&P 500 gained 0.2%, sending the…

Criminal investigations do not usually start with tweets. They very rarely start with tweets by government officials asserting someone’s guilt before a charge has even been laid. That, however, is how the case against Lisa Cook, a governor of the Federal Reserve, began on August 20th, when Bill Pulte, head of the Federal Housing Finance Agency, published a letter alleging that Ms Cook had “falsified bank documents and property records to acquire more favourable loan terms, potentially committing mortgage fraud”. Mr Pulte then tweeted a screenshot showing her signature on two documents. It is on the basis of this evidence…

Nvidia (NVDA) reported quarterly earnings just slightly ahead of Wall Street analysts’ expectations, as its sales climbed to a record high.  The AI chipmaker posted adjusted earnings of $1.05 per share on revenue that soared 56% year-over-year to a record $46.74 billion in the second quarter. Nvidia’s quarterly sales and earnings were just above analysts’ estimates compiled by Visible Alpha. (Investopedia’s live coverage of the results is here.) The company’s data center sales, which comprise the bulk of its revenue, climbed to a record $41.1 billion, though that figure slightly missed Street projections. Nvidia said its results were boosted by the release…