campaign pledged to be a champion for working class Americans. His is stuffed with figures and , including the world’s wealthiest person. Trump himself is set to become the wealthiest president in history, with an estimated net worth of roughly $5.6 billion, according to . After spending years haranguing George Soros, claiming that the billionaire philanthropist was funding Trump’s political enemies and manipulating society with his support for progressive causes, incoming administration figure wants to be a Musk, whose net worth is more than $300 billion, joins key Wall Street characters and wealthy officials joining Trump’s White House. Together, their net worth exceeds $340 billion — larger than the gross domestic product of . Trump has even picked Soros’s money manager Scott Bessent to lead the Department of Treasury. The president-elect has tapped at least five billionaires for his administration thus far, including Musk, biotech entrepreneur Vivek Ramaswamy, former professional wrestling magnate Linda McMahon, investment banker Howard Lutnick, and venture capitalist and North Dakota Governor Doug Burgum. All of them but Musk and Ramaswamy must be confirmed by the Senate. Here is a look at some of the wealthy Wall Street executives and billionaires Trump wants in his administration. Trump’s campaign economic adviser Scott Bessent founded Key Square Capital Management and worked at a hedge fund founded by major Democratic donor George Soros. Before becoming a Trump donor and adviser, Bessent donated to various Democratic causes in the early 2000s, notably Al Gore’s presidential run. North Dakota’s two-term Republican government Doug Burgum made more than $1.1 billion after selling his software company Great Plains to Microsoft in 2001. After ending his own presidential campaign in December 2023, Burgum endorsed Trump and became an outspoken supporter. The CEO of financial services firm Cantor Fitzgerald, Howard Lutnick, with an estimated net worth of more than $1 billion, has served as Trump’s transition team co-chair. He has helped raise millions of dollars for Trump’s campaign and has been a cheerleader for Trump’s economic agenda, including the president-elect’s plans for broad tariffs. The co-founder of World Wrestling Entertainment was nominated to lead an agency that Trump and his allies want to dissolve entirely. McMahon donated $6 million to Trump’s first campaign and later world with the Small Business Association during his administration. She is now a co-chair of his 2024 transition team after briefly serving on the Connecticut Board of Education, She shares a $2.5 billion net worth with her husband, professional wrestling mogul and personality Vince McMahon. Elon Musk, CEO of Tesla and SpaceX, helped steer more than $200 million into Trump’s campaign and has used his X platform, formerly Twitter, which he bought for $44 billion, as a megaphone for the president-elect and his agenda. His net worth is at least $320 billion, according to , and his net worth has increased by more than $60 billion since Trump’s election. Musk, whose companies have received tens of millions of dollars in government contracts, will steer an outside advisory committee to recommend drastic cuts to funding, including mass firings and steep cuts to federal programs. Jim O’Neill previously worked as a senior health official during George W. Bush’s administration and was considered for a top job at HHS in Trump’s first term. He later became the acting CEO of the Thiel Foundation, the philanthropic arm of billionaire venture capitalist Peter Thiel, a former Trump mega donor who financially backed a Senate campaign from his former acolyte JD Vance. O’Neill helped Thiel and investor Ajay Royan launch venture capitalist firm Mithril Capital Management, where the vice president-elect worked before his Senate campaign. The founder of Palm Beach-based private investment firm Rugger Management is the former investments manager for billionaire Michel Dell of Dell Technologies. Phelan, who does not have any military experience, reportedly hosted a fundraiser for Trump’s campaign this summer at his $38 million home in Aspen, Colorado, which cost $25,000 to $500,000 per couple. Phelan and his wife Amy, a former Dallas Cowboys cheerleader, are also , including works from Chagall, Dubuffet and Picasso, among others. Musk’s co-chair of the newly created DOGE Vivek Ramaswamy is a former pharmaceutical executive who briefly ran for the Republican presidential nomination before dropping out to throw his support behind Trump. He made his fortunes with Roivant Sciences, a pharmaceutical company he founded in 2014. His net worth is estimated to be $1.1 billion, according to Forbes. Real estate tycoon Steve Witkoff has an estimated net worth of roughly $500 million. He reportedly has to wealth funds in the Middle East, much like his Middle East envoy predecessor Jared Kusher, Trump’s son in law, who secured a $2 billion investment from a fund led by the Saudi crown prince Mohammed bin Salman six months after leaving the White House.
A judge has once again rejected Musk's multi-billion-dollar Tesla pay package. Now what?SANTA CLARA, Calif. , Dec. 3, 2024 /PRNewswire/ -- Today Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technologies and services, announced financial results for its third quarter fiscal year 2025 ended November 3, 2024. "Pure Storage has achieved another industry first in our journey of data storage innovation with a transformational design win for our DirectFlash technology in a top-four hyperscaler," said Pure Storage Chairman and CEO Charles Giancarlo . "This win is the vanguard for Pure Flash technology to become the standard for all hyperscaler online storage, providing unparalleled performance and scalability while also reducing operating costs and power consumption." Third Quarter Financial Highlights Revenue $831.1 million , an increase of 9% year-over-year Subscription services revenue $376.4 million , up 22% year-over-year Subscription annual recurring revenue (ARR) $1.6 billion , up 22% year-over-year Remaining performance obligations (RPO) $2.4 billion , up 16% year-over-year GAAP gross margin 70.1%; non-GAAP gross margin 71.9% GAAP operating income $59.7 million ; non-GAAP operating income $167.3 million GAAP operating margin 7.2%; non-GAAP operating margin 20.1% Q3 operating cash flow $97.0 million ; free cash flow $35.2 million Total cash, cash equivalents, and marketable securities $1.6 billion Returned approximately $182 million in the third quarter to stockholders through share repurchases of 3.6 million shares "Our third quarter results exceeded our expectations on revenue and operating income, demonstrating the sustaining strength of our business models," said Kevan Krysler , Pure Storage CFO. "We remain focused on driving both near-term results and long-term value creation through disciplined investments and innovation that position Pure as the leader in transforming the data storage landscape." Third Quarter Company Highlights Leading the Hyperscale Opportunity: With its industry-first design win with a top-four hyperscaler, Pure Storage is extending its DirectFlash ® technology into massive scale environments today dominated by hard disks. The unmatched capabilities of Pure's DirectFlash ® technology deliver new levels of innovation, performance, and scalability to an industry with demanding requirements, enabling hyperscalers to fully modernize their infrastructure, significantly improve operational efficiency, and dramatically free up scarce electrical power. Pure Storage also deepened its collaboration with Kioxia, a global leader of NAND Flash technology, to develop cutting-edge technology and manufacturing capacity to address the growing need for high-performance, scalable storage infrastructure for tomorrow's hyperscale environments. Advancing Enterprise AI: Pure Storage expanded its ability to serve the world's largest AI training environments with recent certification of FlashBlade//S500 with NVIDIA DGX SuperPOD, which optimizes performance, power, and space efficiency. Pure also entered into a strategic partnership with CoreWeave to better serve AI customers by making Pure Storage available as a standard option within the CoreWeave dedicated cloud environment. With its introduction of the new Pure Storage GenAI Pod, Pure Storage is providing a set of full-stack solutions which reduce the time, cost, and expertise required to deploy generative AI projects. Delivering Platform Innovation: With the Pure Storage platform, Pure is driving the biggest shift in enterprise storage since Flash. Pure Storage will be delivering v2.0 of Pure Fusion TM in its fourth quarter, which will enable customers to create their own enterprise data cloud, opening their data storage environment like the hyperscalers operate theirs. During the quarter Pure Storage unveiled solutions enabling seamless VMware migrations to Microsoft Azure, delivering enterprise-scale flexibility. And the new Pure Storage FlashArray TM with AWS Outposts brings together Amazon Web Services and Pure's enterprise-grade storage on AWS Outposts, giving customers the flexibility to run cloud services on an enterprise-grade storage platform within their own data centers. Industry Recognition and Accolades Leader for Fifth Consecutive Year in the 2024 Gartner ® Magic Quadrant TM for Primary Storage Platforms Leader for Fourth Consecutive Year in the 2024 Gartner ® Magic Quadrant TM for File and Object Storage Platforms Forbes Most Trusted Companies in America 2025 (Ranked #144) Fortune Best Places to Work in Technology 2024 (Ranked #14) Fourth Quarter and FY25 Guidance These statements are forward-looking and actual results may differ materially. Refer to the Forward Looking Statements section below for information on the factors that could cause our actual results to differ materially from these statements. Pure has not reconciled its guidance for non-GAAP operating income and non-GAAP operating margin to their most directly comparable GAAP measures because certain items that impact these measures are not within Pure's control and/or cannot be reasonably predicted. Accordingly, reconciliations of these non-GAAP financial measures guidance to the corresponding GAAP measures are not available without unreasonable effort. Conference Call Information Pure will host a teleconference to discuss the third quarter fiscal 2025 results at 2:00 pm PT today, December 3, 2024. A live audio broadcast of the conference call will be available on the Pure Storage Investor Relations website . Pure will also post its earnings presentation and prepared remarks to this website concurrent with this release. A replay will be available following the call on the Pure Storage Investor Relations website or for two weeks at 1-800-770-2030 (or 1-647-362-9199 for international callers) with passcode 5667482. Additionally, Pure is scheduled to participate at the following investor conferences: Wells Fargo 8th Annual TMT Summit Date: Wednesday, December 4, 2024 Time: 1:30 p.m. PT / 4:30 p.m. ET Chief Technology Officer Rob Lee 27th Annual Needham Growth Conference Date: Thursday, January 16, 2025 Time: 9:45 a.m. PT / 12:45 p.m. ET Founder & Chief Visionary Officer John "Co z" Colgrove Chief Financial Officer Kevan Krysler The presentations will be webcast live and archived on Pure's Investor Relations website at investor.purestorage.com . ---- About Pure Storage Pure Storage (NYSE: PSTG) delivers the industry's most advanced data storage platform to store, manage, and protect the world's data at any scale. With Pure Storage, organizations have ultimate simplicity and flexibility, saving time, money, and energy. From AI to archive, Pure Storage delivers a cloud experience with one unified Storage as-a-Service platform across on premises, cloud, and hosted environments. Our platform is built on our Evergreen architecture that evolves with your business – always getting newer and better with zero planned downtime, guaranteed. Our customers are actively increasing their capacity and processing power while significantly reducing their carbon and energy footprint. It's easy to fall in love with Pure Storage, as evidenced by the highest Net Promoter Score in the industry. For more information, visit www.purestorage.com . Connect with Pure Blog LinkedIn Twitter Facebook Pure Storage, the Pure P Logo, Portworx, and the marks on the Pure Storage Trademark List are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Trademark List can be found at purestorage.com/trademarks . Other names may be trademarks of their respective owners. Forward Looking Statements This press release contains forward-looking statements regarding our products, business and operations, including but not limited to our views relating to our opportunity with hyperscale and AI environments, our ability to meet hyperscalers' performance and price requirements, our ability to meet the needs of hyperscalers for the entire spectrum of their online storage use cases, the timing and magnitude of large orders, including sales to hyperscalers, the timing and amount of revenue from hyperscaler licensing and support services, future period financial and business results, demand for our products and subscription services, including Evergreen//One, the relative sales mix between our subscription and consumption offerings and traditional capital expenditure sales, our technology and product strategy, specifically customer priorities around sustainability, the environmental and energy saving benefits to our customers of using our products, our ability to perform during current macro conditions and expand market share, our sustainability goals and benefits, the impact of inflation, economic or supply chain disruptions, our expectations regarding our product and technology differentiation, new customer acquisition, and other statements regarding our products, business, operations and results. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings and reports with the U.S. Securities and Exchange Commission, which are available on our Investor Relations website at investor.purestorage.com and on the SEC website at www.sec.gov . Additional information is also set forth in our Annual Report on Form 10-K for the year ended February 4, 2024. All information provided in this release and in the attachments is as of December 3, 2024, and Pure undertakes no duty to update this information unless required by law. Key Performance Metric Subscription ARR is a key business metric that refers to total annualized contract value of all active subscription agreements on the last day of the quarter, plus on-demand revenue for the quarter multiplied by four. Non-GAAP Financial Measures To supplement our unaudited condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, Pure uses the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, and free cash flow. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses such as stock-based compensation expense, payments to former shareholders of acquired companies, payroll tax expense related to stock-based activities, amortization of debt issuance costs related to debt, and amortization of intangible assets acquired from acquisitions that may not be indicative of our ongoing core business operating results. Pure believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies. For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures" and "Reconciliation from net cash provided by operating activities to free cash flow," included at the end of this release.
Camping banned after 'secret' Aussie 4WD beach exposedSupply chain management software maker Logility has introduced “two AI-native” capabilities. The new artificial intelligence (AI)-powered offerings, set to become available in spring 2025, are designed to “reimagine the way supply chain execution gets done,” the company said in a Tuesday (Dec. 3) news release . The first new offering is Intelligent Order Response, an automated order allocation and optimization software application that employs AI to seek out and resolve demand-supply imbalances, the company said in a news release. The other is a new enhancement of the company’s Continuous Network Optimization capability, expanding to offer AI-powered recommendations for “incremental supply chain network adjustments and automate the realignment of the operating model.” Allan Dow , Logility’s president and CEO, said the new offering is part of the company’s efforts to bring AI-first solutions to supply chain management. “Intelligent Order Response and the continued enhancement of Continuous Network Optimization reflect this commitment by addressing long-standing challenges in new and innovative ways,” Dow said. “Traditional, manual, and subjective processes are giving way to strategies that democratize information, elevate human decision making, and allow organizations to rapidly build competitive advantage. We’re proud to help our clients transition from a ‘what happened’ view of the world to one that focuses on what’s coming.” Logility announced earlier this year that it would begin adding generative AI capabilities to its range of prescriptive supply chain planning solutions, with the company saying it aims to use the technology to help its customers to make faster decisions and gain a competitive advantage in the market. “We’re entering a new era in supply chain management, where speed and precision are not just desired, they’re required,” Dow said at the time. Writing about this topic earlier this year, PYMNTS noted that “traditional supply chain models, often reliant on manual processes and disjointed communication, have struggled to keep pace with the demands of today’s dynamic markets.” With this gap in mind, companies are increasingly relying on advanced technologies like AI, automation and blockchain to transform and modernize every aspect of their supply chain processes. In an interview with PYMNTS, GreyOrange CEO Akash Gupta offered some insights into how these advanced technologies, including robotics, AI and what he termed “an intelligent software orchestration layer,” have been critical in streamlining warehousing and fulfillment processes, while also efficiently managing inventory flow and data.Pakistani police arrest thousands of Imran Khan supporters ahead of rally in the capital
Anyone hoping that benching and releasing quarterback Daniel Jones would relate in a turnaround for the Giants was given a rude awakening on Sunday. The Buccaneers scored the first 30 points of the game on their way to a 30-7 loss that dropped the Giants to 2-9 on the season. After the game, rookie wide receiver Malik Nabers didn’t hold back the frustration that he’s feeling about the way things are going for the team. Nabers called the Giants “soft as fuck” while talking to reporters in the locker room after the game and said he felt he couldn’t do anything to help the team avoid its sixth-straight loss because the ball never came his way before the result was in hand. “I mean, it’s just soft man,” Nabers said, via Ryan Novozinsky of NJ.com. “I’m tired of going out there and losing. It’s just that. I mean, I don’t know bro. I go out there, first and second quarter, and I don’t get the ball and start getting targets at the end. I mean, I can’t do nothing. Start getting the ball at 30-0 — what do you want me to do?” Nabers finished the day with six catches for 64 yards and said he doesn’t know why the team is in such a bad place. He did share that he doesn’t think it has anything to do with Jones or Tommy Devito. “Obviously it ain’t the quarterback,” Nabers said. “Same outcome we had when DJ was the quarterback. Take a look. Take a look: It ain’t the quarterback.” The Giants have six more games to go and it looks like they have a lot to figure out if they want to keep things from falling apart off the field as well.India News | MNS' Rout Means Party Going Unrepresented in Maharashtra Assembly