Forbes Daily Briefing

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The Forbes Daily Briefing shares the best of Forbes reporting on wealth, business, entrepreneurship, leadership and more. Tune in every day, seven days a week, to hear a new story. The Daily Briefing is edited, produced and hosted by Kieran Meadows. 930398

  1. Tesla Misses Vehicle Delivery Estimates As EV Market Struggles

    1H AGO ·  BONUS

    Tesla Misses Vehicle Delivery Estimates As EV Market Struggles

    Follow Forbes Talks Tesla on Thursday reported quarterly vehicle deliveries that fell below Wall Street’s expectations, the latest sign of a disrupted electric vehicle market as Elon Musk’s automaker shifts its focus toward robotaxis and humanoid robots. Key Facts Tesla said Thursday it delivered just over 358,000 vehicles in the first quarter, below the automaker’s compiled consensus of 365,645 and consensus analyst projections of 381,000, according to FactSet. That marks a 14.3% decline from the December quarter (418,227), but a 6.2% year-over-year growth from Q1 2025 (337,000), when Tesla reported its fewest quarterly vehicle deliveries since 2022. Model 3 and Y vehicles accounted for nearly 342,000 of Tesla’s quarterly deliveries, down nearly 19% from the previous quarter (406,585). Shares of Tesla declined 3.4% shortly after trading opened on Thursday. What To Watch For Tesla will report Q1 earnings after market close on April 22, the company said. The automaker is expected to report quarterly revenue of $22.9 billion and $0.41 earnings per share, representing what would be annual growth of 18.6% and nearly 52%, respectively. Key Background Tesla’s vehicle delivery reports are often cited as insight into the automaker’s sales ahead of its earnings reports. The latest quarterly slide in deliveries follows a broader decline in electric vehicle demand: EVs represented roughly 12% of the U.S. market in September, an all-time high, but that dropped to 6% by January, according to Cox Automotive. Tesla remains the market leader in the U.S., however, even as it faces growing competition from Chinese automaker BYD, which surpassed Tesla as the world’s largest EV maker. Musk said in January the company would end production of its flagship Model S and Model X cars, announcing Tesla would use its production line in Fremont, California, to manufacture the company’s Optimus humanoid robots. Earlier this week, Musk said orders for the S and X vehicles had “come to an end.” Forbes Valuation Musk is by far the world’s richest person, with an estimated net worth of $823.8 billion as of Thursday. He’s expected to soon become the world’s first trillionaire, after his SpaceX filed confidentially for an IPO on Wednesday, leading the way for what will likely be the largest-ever market debut. Musk, who owns about 43% of SpaceX, would become the first person to be chief executive of two companies valued at $1 trillion after the aerospace firm’s listing. Read the full story on Forbes: By Ty Roush https://www.forbes.com/sites/tylerroush/2026/04/02/tesla-misses-vehicle-delivery-estimates-as-ev-market-struggles/ Learn more about your ad choices. Visit megaphone.fm/adchoices

    4 min
  2. The OpenAI Graveyard: All The Deals And Products That Haven’t Happened

    6H AGO

    The OpenAI Graveyard: All The Deals And Products That Haven’t Happened

    Here are all the products and deals that OpenAI announced which haven’t lived up to the hype, whether it’s because they’re dead, delayed or still to be determined. Sora and Disney In March, OpenAI announced it was shuttering the product and scrapping the deal. Adoption of Sora, which was guzzling compute and burning an estimated $15 million a day at its peak, had fallen off a cliff. Sensor Tower and Appfigures both estimated that Sora’s lifetime in-app revenue amounted to less than $3 million. OpenAI will also discontinue Sora’s associated AI models.  “As the nascent AI field advances rapidly, we respect OpenAI’s decision to exit the video generation business and to shift its priorities elsewhere,” Disney spokesperson Mike Long told Forbes. NSFW mode in ChatGPT Altman first proposed the idea of allowing verified adult users to have sexual conversations with ChatGPT in October. After facing intense pushback from internal staff as well as investors, the plans have been put on hold “indefinitely,” the Financial Times reported in March. The company had previously delayed the launch due to technical issues that come with training an AI model that forays into erotica without creating illegal content, like child sexual abuse material. OpenAI confirmed the report and said it wants to do long-term research on the effects of sexually explicit chats on users before making a decision. Instant Checkout for Shopping In early March, OpenAI pulled the plug, discontinuing the Instant Checkout feature. Instead, shoppers can now browse and buy products from dedicated apps within ChatGPT, including from Walmart’s own chatbot Sparky. OpenAI said it wants to focus on helping people browse and search for products and give sellers control over checkout. “We’ve found that the initial version of Instant Checkout did not offer the level of flexibility that we aspire to provide,” the company said in a blog post. GPT-4o  In February, OpenAI officially sunsetted its wildly popular GPT-4o model. Known for its warm, giddy, playful personality, 4o was also problematically “overly sycophantic" and excessively agreeable. OpenAI temporarily brought it back shortly after first killing it in August in response to backlash from people who had grown attached to the model and were enraged that it was being discontinued. “BRING BACK 4o,” one Reddit user wrote. “GPT-5 is wearing the skin of my dead friend.” Stargate  On the first full day of President Trump’s second term, OpenAI announced the $500 billion Project Stargate in partnership with Oracle and SoftBank to build AI data centers across the country. The high-profile announcement took place at the White House, where Altman was flanked by tech billionaires Larry Ellison and Masayoshi Son on one side and Trump on the other.  Nvidia In September, both companies touted a headline-grabbing promise that Nvidia “intends” to invest up to $100 billion into OpenAI. The agreement had no timeline attached to it, and now it seems like OpenAI may only ever see $30 billion of it if OpenAI goes public soon, per comments from Nvidia CEO Jensen Huang in March. Nvidia’s latest annual report, filed at the end of February, provided even more of a hedge: “There is no assurance that we will enter into an investment and partnership agreement with OpenAI or that a transaction will be completed.” AMDA month after announcing a potential $100 billion deal with Nvidia, OpenAI unveiled a parallel agreement with Nvidia’s arch-rival, AMD. The deal was marketed as 160 million of AMD shares, or about 10% of the company, in exchange for OpenAI outfitting six gigawatts’ worth of data center capacity with AMD chips. Read the full story on Forbes: By Phoebe Liu, and Rashi Shrivastava. https://www.forbes.com/sites/phoebeliu/2026/03/31/openai-graveyard-deals-and-products-havent-happened-openai/ Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  3. The Top 10 Richest People In The World | April 2026

    18H AGO

    The Top 10 Richest People In The World | April 2026

    Who are the top 10 richest people in the world? 1. Elon Musk  2. Larry Page  3. Jeff Bezos (up from No. 4)  4. Sergey Brin (down from No. 3) 5. Mark Zuckerberg  6. Larry Ellison  7. Jensen Huang (up from No. 8)  8. Michael Dell (up from No. 13) 9. Rob Walton (up from No. 11)  10. Bernard Arnault (down from No. 7) March wasn’t the best month to be a billionaire, as both the S&P 500 and Nasdaq sank by nearly 5% amid the Iran war. Nine of the world’s ten richest people enter April poorer than they were at the beginning of March. As a group, their fortunes fell by more than $100 billion combined to a total of $2.5 trillion, as of April 1 at 12 a.m. Eastern time.  Even more notable is the shake up at the top, as only four members of last month’s top 10 held onto their same ranks including the world’s richest person Elon Musk and no. 2 Sergey Brin. Despite their ranks holding steady, Musk and Page were two of five top 10 members who lost at least $20 billion in the past month. Musk’s fortune fell by $22 billion to $817 billion. He’s still more than three times as rich as his runner-up, Page, whose fortune sank by $20 billion to $237 billion.  The biggest loser was Frenchman Bernard Arnault of luxury goods conglomerate LVMH, who dropped from No. 7 to No. 10, as his fortune sank by $28 billion, to $142.5 billion. Another big loser was Spanish fast fashion mogul Amancio Ortega, who tumbled from No. 10 to No. 14, as his fortune plunged by $20 billion, to $128 billion. Warren Buffett also fell out of the top 10, sliding from No. 9 to No. 11, as his net worth fell by $7 billion to $142 billion. Walmart heir Rob Walton lost $3 billion but nevertheless jumped into the top 10 for the first time in at least three years. The other new face in this month’s top 10 (and the only gainer) was PC mogul Michael Dell, who climbed from No. 13 to No. 8, as his fortune inched upward by $2 billion to $143.1 billion.  Jeff Bezos also moved up, to No. 3 for the first time since October, as his fortune dipped by a relatively modest $1 billion to $223 billion. He swapped places with Google cofounder Sergey Brin, who dropped to No. 4 for the first time since January, as his net worth fell by $18 billion to $219 billion.  Forbes has been tracking the world’s billionaires since 1987. In March 2026, we found 3,428 of them for our annual list. Below are the 10 richest people on earth as of April 1, 2026 at 12 a.m. Eastern time, according to Forbes. Stock prices fluctuate routinely, so these net worths typically change on a daily basis. Forbes tracks the daily changes on our Real Time list of billionaires. Read the full story on Forbes: https://www.forbes.com/sites/forbeswealthteam/article/the-top-ten-richest-people-in-the-world/ Learn more about your ad choices. Visit megaphone.fm/adchoices

    6 min
  4. SpaceX Files For IPO–Here’s What To Know

    1D AGO ·  BONUS

    SpaceX Files For IPO–Here’s What To Know

    Follow Forbes Talks Elon Musk may soon become the first person to have a net worth exceeding $1 trillion, as SpaceX’s anticipated stock market debut is on the way after the aerospace firm filed for an IPO on Wednesday. Key Facts SpaceX submitted confidential IPO registration to the Securities and Exchange Commission, according to multiple reports, meaning the documentation is only available to regulators. Additional information about SpaceX’s IPO, including the number of shares to be sold and a price range, will be disclosed in a later filing. Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley are leading the offering, the Wall Street Journal reported, citing people familiar with the matter. With an expected listing in June, the public offering is estimated to value SpaceX at $1.75 trillion and raise $75 billion, which would more than double Saudi Aramco’s $29 billion debut in 2019 as the largest-ever IPO. SpaceX acquired Musk’s artificial intelligence startup xAI in February, consolidating two of his companies in a deal that valued the combined entity at an estimated $1.25 trillion. SpaceX did not immediately respond to a request for comment from Forbes. Surprising Fact Once SpaceX's listing debuts, Musk will likely become the first person to be chief executive of two companies valued at $1 trillion. His Tesla has a market valuation of $1.4 trillion as of Wednesday. Forbes Valuation Musk is the wealthiest person in the world with an estimated net worth of $824.3 billion as of Wednesday. He became the first person to be worth $400 billion in 2024, and his fortune crossed the $500 billion, $600 billion, $700 billion, and $800 billion thresholds in 2025 and 2026, respectively. Musk holds an estimated 43% stake in SpaceX, which would all but guarantee his net worth rising above $1 trillion. Even before SpaceX’s IPO, Tesla shareholders approved a compensation package for Musk in November that could be worth close to $1 trillion, but requires the automaker to achieve several goals over the next decade. Read the full story on Forbes: ByTy Roush https://www.forbes.com/sites/tylerroush/2026/04/01/musk-closer-to-trillionaire-status-spacex-reportedly-files-for-ipo/ Learn more about your ad choices. Visit megaphone.fm/adchoices

    4 min
  5. Accused Of Copying U.S. AI, Chinese Founders Mint Billions

    1D AGO

    Accused Of Copying U.S. AI, Chinese Founders Mint Billions

    OpenAI and Anthropic allege improper distillation of their models. Investors have pushed Chinese AI valuations sky-high anyway—raising a harder question about pricing power. Anthropic isn’t just sparring with Washington over military use of Claude. It’s also accusing Chinese AI labs of siphoning off value from it. Last month, OpenAI and Anthropic publicly alleged that Chinese AI companies have been improperly extracting capabilities—coding, reasoning and other behaviors—from their proprietary models to train their own competing models, using a technique called “distillation.” In a February 23 press release, Anthropic claimed DeepSeek, MiniMax and Moonshot AI prompted its Claude models 16 million times through roughly 24,000 fraudulent accounts. Earlier this month, OpenAI sent a letter to U.S. lawmakers alleging that DeepSeek similarly improperly trained their models on outputs from OpenAI’s models. Google’s threat intelligence arm, without naming a company, warned in a February report of a rise in distillation attacks targeting Gemini. The accused companies have not publicly commented on allegations of wrongdoing, and didn’t respond to Forbes’ requests for comment. But the broader point is hard to ignore: Several of these Chinese models are now nearly as good as their American counterparts. Many are open source. Most are cheaper. And that combination is starting to erode confidence in the expensive economics of the entire sector. “It’s not easy to build these models, and [distillation] is a way to leapfrog that process,” says John Hultquist, chief analyst at Google’s Threat Intelligence Group.  Jenny Xiao, a venture capitalist at Leonis Capital who formerly worked on trust and safety at OpenAI, is more blunt: “Open source models are essentially a kill line.” Have a tip about AI model makers as they navigate the markets, geopolitics and national security? Contact Phoebe Liu at pliu@forbes.com, phoebe.789 on Signal or _pheebini on WeChat. While American labs warn about intellectual property violations, Chinese AI stocks are running hot. MiniMax and Z.ai (not named in the U.S. companies’ claims) went public in Hong Kong in January, minting new billionaires. Skyrocketing shares have since catapulted the net worths of MiniMax chairman and CEO Yan Junjie and Z.ai chairman Liu Debing to $7.1 billion and $8.7 billion, respectively—roughly in the range of Anthropic’s seven billionaire cofounders, now worth $7 billion apiece. There are others. Z.ai’s runup makes Liu’s cofounder, Tsinghua University professor Tang Jie, a new billionaire as well, worth $1.9 billion. DeepSeek founder Liang Wenfeng debuted this year as the richest newcomer on Forbes Asia’s China’s 100 Richest list, worth an estimated $11.5 billion. And Moonshot AI founder and CEO Yang Zhilin is set to become a billionaire when the Kimi model maker’s current funding round, reportedly at a $10 billion valuation, closes. Based on comparative valuation metrics, Wang Xiaochuan of Baichuan and Jiang Daxin of Stepful may have entered the billionaires’ club as well. Read the full story on Forbes: By Phoebe Liu https://www.forbes.com/sites/phoebeliu/2026/03/02/copying-ai-chinese-founders-minimax-deepseek-moonshot-billions/ Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  6. How This Meat Snack Company Devoured The Competition And Became A $1 Billion Business

    1D AGO

    How This Meat Snack Company Devoured The Competition And Became A $1 Billion Business

    By appealing to women, Chomps is selling some 2 million sticks a day. Now its founders may be looking for an exit. Over the past few years, Chomps has become the fastest-growing meat snack in America—despite the fact that it couldn’t keep up with its customers’ enormous appetites. “We've been living in this endless world of allocation where we can only fill so much of the demand,” says Rashid Ali, cofounder and CEO of the Chicago-based snack brand. Not anymore. Consider Chomps unleashed. This year is the first, Ali says, where Chomps is up to the challenge and has enough infrastructure to produce enough meat sticks to satisfy the estimated 2 million it sells a day.  Founded in Naples, Florida in 2012, Chomps is on track to top $900 million in annual revenue this year, according to Forbes estimates—up from $660 million last year—with 10% of the meat snack market. Its meat sticks—made with grassfed and finished beef, venison and antibiotic-free turkey—are resonating with consumers seeking on-the-go protein, particularly women, who make up about 70% of its customers. Chomps sticks can now be found in some 50,000 retailers, including Walmart, Target, Costco, Kroger, Publix and H-E-B.  According to Forbes estimates, Chomps is worth north of $1 billion—or more if it reaches $1 billion in annual revenue. Ali, 45, and cofounder Pete Maldonado, 44, control the majority of the company. Maldonado has an estimated 35% stake (worth at least $350 million) and Ali owns an estimated 20% (worth $200 million). The cofounders say Chomps has been profitable since it was 30 days in, but its profitability is limited by the cut that its manufacturers take, as well as the impact of rising prices for beef and other key ingredients. Forbes estimates Chomps’ 2025 EBITDA was about $50 million, or an EBITDA margin of roughly 7%. Chomps declined to comment on its financials. “Just having Chomps getting to the level where it is right now, and then on top of it, understanding that we've only scratched the surface of where it can go is just mind boggling to me,” says Maldonado, who moved from the co-CEO role to chairman last year. “Now is the first time we've got all the capacity from a production standpoint, and so now we get to find out really how high is high.” Read the full story on Forbes: By Chloe Sorvino https://www.forbes.com/sites/chloesorvino/2026/03/27/how-chomps-devoured-the-competition-and-became-a-15-billion-meat-snack/ Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  7. OpenAI Valuation Reaches $852 Billion After Massive Funding Round

    2D AGO ·  BONUS

    OpenAI Valuation Reaches $852 Billion After Massive Funding Round

    Follow ⁠Forbes Talks⁠. OpenAI raised $122 billion in its latest funding round, the artificial intelligence giant announced Tuesday, bringing its post-money valuation to $852 billion. KEY FACTS The funding round was backed by OpenAI partners such as Amazon, Nvidia, Microsoft and SoftBank, according to the announcement. The latest valuation for the company comes a little more than a month after it announced $110 billion in funding at a $730 billion valuation. OpenAI opened this month’s funding round to individual investors, who raised over $3 billion. BIG NUMBER $2 billion. That is how much money OpenAI is raking in every month, according to Tuesday’s announcement. Last year, it made $13.1 billion in revenue.  SURPRISING FACT OpenAI is not yet profitable despite its strong revenue numbers. The company is burning money on operating costs driven by expenditures from training AI models and creating infrastructure. OpenAI will spend half a trillion dollars by 2030 if it maintains its current pace, according to The Guardian. KEY BACKGROUND OpenAI is leading the funding race against its competitors by hundreds of billions of dollars. Anthropic announced in January it raised $25 billion, bringing its valuation to $350 billion. Elon Musk’s xAI reached a $230 billion valuation that same month, though its acquisition of SpaceX brought the number up to $250 billion. OpenAI is on its way to reaching valuations held by tech giants like Meta, which boasted a $1.4 trillion market capitalization as of Tuesday. OpenAI is preparing for an initial public offering by the end of 2026, according to CNBC, which reported on an all-hands meeting in which company officials discussed taking ChatGPT from a casual chatbot for users to a more serious AI assistant used for carrying out tasks. Read the full story on Forbes: By Antonio Pequeño IV https://www.forbes.com/sites/antoniopequenoiv/2026/03/31/openai-valuation-reaches-852-billion-after-massive-funding-round/ Learn more about your ad choices. Visit megaphone.fm/adchoices

    3 min
  8. How The Presidency Made Mar-A-Lago Trump’s Most Valuable Property By Far

    2D AGO

    How The Presidency Made Mar-A-Lago Trump’s Most Valuable Property By Far

    The so-called “Winter White House” has become a billionaire magnet—and riding Palm Beach’s popularity and rising profits, it’s now worth over half a billion dollars Donald Trump just couldn’t resist a low-stakes flex in a high-attention zip code. On Monday, the president waded into Tuesday’s special election in Florida State House District 87 with a Truth Social post: “JON MAPLES HAS MY COMPLETE AND TOTAL ENDORSEMENT!” Maples, a Republican financial advisor, ended up losing Tuesday’s race by two points to Democrat Emily Gregory, a small business owner. Which means Gregory now represents two constituencies that really matter in modern Republican politics: the voters in her district—including Donald Trump himself—and the private club where the sitting president resides and often hosts power, money and, increasingly, government. For the first time this March, when Forbes recalculated Trump’s net worth for our World’s Billionaires List, we estimated Mar-a-Lago’s value at over half a billion dollars. It now stands at $564 million, by a wide margin the single most valuable property in his portfolio and up over 50% from a year ago.  Much of that can be chalked up to a sort of election win premium that has made the club, perhaps, the most efficiently networked driveway in America. Forbes estimated Mar-a-Lago’s value at about $340 million in September 2024 for the Forbes 400 list, the last valuation round before Trump returned to the White House. Not long after, Palm Beach real estate experts were already granting it higher valuations. “My head tells me at least $500 million,” Corcoran Group’s Dana Koch said in January 2025, a $100 million jump from a previous estimate. “I have people who would fight me tooth and nail to tell me it’s worth $750 million, a billion, $1.25 billion, $1.5 billion—seriously, they’d fight me on it, real estate people,” he added. Aperture Global founding agent Isaac Klein made a similar case around the same time, explicitly framing the bump as stemming from public goodwill attached to a “unique president.” A better term for goodwill might be gravitational pull. Since Trump won the 2024 election, Forbes found at least 32 billionaires who reportedly made the pilgrimage to Mar-a-Lago. Of those 32, 25 are wealthier than they were a year ago; collectively they’re worth a combined $2.3 trillion, up $700 billion.  After rebuilding his relationship with Trump, Elon Musk attended a Mar-a-Lago wedding in February. The list reads like a Gilded Age guestbook. Trump business partner Hussain Sajwani (net worth: $15.3 billion) visited. The world’s richest person, Elon Musk ($839 billion), did too. The third, fourth, fifth and sixth richest members of Forbes’ 2026 Billionaires List—Sergey Brin ($237 billion), Jeff Bezos ($224 billion), Mark Zuckerberg ($222 billion) and Larry Ellison ($190 billion)—have also apparently been spotted. Nvidia CEO Jensen Huang ($154 billion) reportedly stopped by quietly to attend a $1 million-a-head fundraiser in April—shortly before the administration reversed course on restricting the company’s chip sales in China. (A person familiar with Huang’s visit denied that he made a donation, but confirmed he was at Mar-a-Lago.) Other billionaire guests include members of Trump’s administration, including commerce secretary Howard Lutnick ($7.2 billion), education secretary Linda McMahon ($3.6 billion) and ambassador to Italy Tilman Fertitta ($11.7 billion).  Mar-a-Lago’s soaring valuation also has a boring but important underpinning: cash flow. In his most recent financial disclosures, Trump reported about $50 million in resort-related revenue in 2024, nearly double 2021’s $27 million. Forbes estimates that the club, a go-to location for all sorts of MAGA events, made Trump some $33 million in profits in 2024, up from $14 million in 2021. Palm Beach’s rising tide has helped, too: The luxury market there has skyrocketed in recent years. “Everyone wants to be around Trump right now,” Compass agent Chris Deitz told Forbes in December, noting intensified demand for homes in the “security zone” around the club. Trump’s three nearby mansions are collectively worth about $100 million, up from $88 million a year ago and $42 million in 2021. Hedge fund titan Ken Griffin ($49.8 billion) is building a colossal 28-acre estate down the street; mining magnate Gina Rinehart ($25.5 billion), casino billionaire Steve Wynn ($3.9 billion) and activist investor Nelson Peltz ($1.6 billion) are among the billionaires with glitzy properties nearby.  Read the full story on Forbes: By Kyle Khan-Mullins https://www.forbes.com/sites/kylemullins/2026/03/26/how-the-presidency-made-mar-a-lago-trumps-most-valuable-property-by-far/ Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
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About

The Forbes Daily Briefing shares the best of Forbes reporting on wealth, business, entrepreneurship, leadership and more. Tune in every day, seven days a week, to hear a new story. The Daily Briefing is edited, produced and hosted by Kieran Meadows. 930398

Information

  • Creator
    Forbes
  • Years Active
    2022 - 2026
  • Episodes
    13
  • Rating
    Clean
  • Copyright
    © Forbes Media LLC

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