Football's top earners haul in a combined $489 million.
ILLUSTRATION BY STEPHANIE JONES FOR FORBES; PHOTOS, FROM LEFT: MATTHEW PEARCE/ ICON SPORTSWIRE/ GETTY IMAGES, JARED C. TILTON/ GETTY IMAGES, DILIP VISHWANAT/GETTY IMAGES, HARRY HOW/GETTY IMAGES, MATTHEW STOCKMAN/GETTY IMAGESForbes reporting uncovered hundreds of employees at TikTok’s parent company ByteDance have links to the propaganda arms of the Chinese government. Meet 27-year-old Daniella Pierson, a newly minted member of the United States’ wealthiest women of color cohort. One of the oldest boardroom maxims is that no one ever got fired for hiring McKinsey, but where do the Big Three fit on the inaugural Forbes ranking of the World's Best Management Consulting Firms?
Sign up here to get the Forbes Daily Dozen morning newsletter straight to your inbox.
In The News Today
- Former President Donald Trump said he had “no choice” but to invoke his Fifth Amendment rights to protect against self-incrimination during his Wednesday deposition in the New York attorney general’s investigation into his company. Trump maintains he “did nothing wrong” in his real estate dealings, while investigators have said “significant” evidence of fraud exists.
- Trump’s days leading up to the deposition were also fraught with legal setbacks and developments as the billionaire navigates the 36 active investigations into, lawsuits against and other legal matters involving himself and his business. From the Mar-a-Lago raid to efforts to obtain Trump’s long-hidden tax returns, Forbes mapped out a timeline of these events.
Top Take-Aways
LinkedIn profiles for hundreds of employees at ByteDance, TikTok’s parent company, reveal close connections—and a “cooperation strategy”—between the company and the propaganda divisions of the Chinese government.
Finally setting sail after a United Nations-brokered deal reopened ports, Ukrainian grain shipments now face a maze of Russian threats to ships and rampant mold after being blockaded for months. That exacerbates a worsening hunger crisis in the Middle East and Africa, where millions rely on Ukrainian grain.
You’re not imagining it—your grocery bill really is getting more expensive, even if you’ve stuck to buying the same items. Thank the food index’s 1.1% increase in July. It translates to a 2.3% price hike on non-alcoholic beverages, 3.5% jump on coffee, and 1.7% rise on dairy, for example.
Still, consumer prices actually cooled slightly in July with an 8.5% increase from a year ago compared to 9.1% in June. That better-than-expected inflation report stoked hopes that inflation has peaked and fueled a stock market surge on Wednesday, with the Dow jumping 1.6%, the S&P 500 gaining 2.1% and the Nasdaq rising 2.9%.
The big tax, climate and health bill trucking its way through Congress as part of the $430 billion Inflation Reduction Act could substantially lower drug costs for millions of Medicare enrollees, but older adults may not actually feel the impact of those changes for years.
Recent public shaming of private jet use by stars like Kylie Jenner and Taylor Swift may push celebrities and influencers to reevaluate the way they travel, shifting private jet ownership models.
Today's Must-Read
Highest-Paid NFL Players 2022: Tom Brady Leads The List For The First Time
Football’s top ten earners are demolishing records, hauling in a combined $489 million as the world’s most valuable sports league continues its ascent.
In Case You Missed It
Daniella Pierson, the 27-year-old Latinx founder of women-focused newsletter company The Newsette, is now one of the wealthiest women of color in the U.S. Two weeks ago the self-made entrepreneur's company hit a $200 million valuation, placing her own net worth at $220 million. That lands Pierson among the ranks of America’s Richest Self-Made Women, which Forbes published in June.
Tips You Can Trust
- As workplaces permanently adopt hybrid or fully remote environments, it’s more important than ever for successful leaders to showcase their value and personal brand in virtual meetings. Here’s how to master the hybrid meeting and effectively appeal to colleagues whether they’re attending in-person or tuning in live.
- Given the ongoing global pandemic, supply chain issues and an overall turbulent economy, management consultants that can guide organizations through disruptions are essential. That’s why Forbes teamed up with Statista for its inaugural World’s Best Management Consulting Firms ranking. From Paris to Pennsylvania, see which firms made the cut.
Must-Watch Video
U.S. Lagging In Attracting International Students Says ApplyBoard CEO Martin Basiri
Just 5% of higher-education scholars in the U.S. are international students versus 22% to 25% in the U.K. and Canada and 33% in Australia, says Basiri. That’s a huge missed opportunity for the economy; 80% of international students study STEM fields and are five times more likely overall to found a unicorn company than other scholars.
A Forbes subscription illuminates, informs and inspires. Join today to gain unlimited access to all our journalism and a front-row seat at exclusive subscriber-only events.
