The strain on the U.S. air traffic control system could be key to ending the government shutdown.
Air traffic controllers are working an average of 60 hours a week without pay, the head of their union told Forbes, at a time when there’s already a severe shortage of air traffic controllers. While they are considered essential and must continue to work during a shutdown, absenteeism and attrition reportedly played a key role in President Donald Trump’s decision to end the shutdown in 2018-19.
“In a job that’s already stressful, this shutdown has put way more stress on our controllers,” Transportation Secretary Sean Duffy told reporters Monday.
AMD announced a multibillion-dollar deal with ChatGPT creator OpenAI, leading shares of the chipmaker to soar 24% on Monday as the company seeks to challenge Nvidia’s dominance. AMD gave OpenAI the option to purchase up to 160 million shares, representing an estimated 10% stake in the firm.
President Donald Trump’s $100,000 fee for new H-1B visa recipients is expected to hit universities hard, adding to higher education’s woes amid research funding cuts and freezes and new student loan limits set to kick in next year. The Trump Administration is also proposing changing the rules of the visa lottery to favor older workers, which would make it harder for foreign students who graduate from U.S. universities to stay in the country for work.
Shares of AppLovin tumbled Monday as the SEC launched a probe into alleged data-collection violations tied to targeted ads, according to Bloomberg. The mobile advertising company’s stock dropped 14% following reports of the investigation, erasing an estimated $8.65 billion in executive and top pre-IPO investor wealth, according to Forbes estimates.
ChatGPT users will soon be able to connect to third-party apps, such as Spotify or Zillow, while using the chatbot, parent company OpenAI’s latest innovation as it competes in the race for AI dominance. CEO Sam Altman said Monday that users will be able to perform functions like creating a playlist in Spotify or searching for a specific style of home through Zillow.
Illinois challenged the Trump Administration over its efforts to deploy the National Guard in Chicago over the weekend, joining California and Oregon in suing over troop deployments. The district judge who was assigned the case did not immediately block the deployment and set oral arguments for Thursday, though she did say that she was “very troubled by the lack of answers” from Justice Department attorneys, the Chicago Sun-Times reported.
Hours after the Supreme Court declined to hear an appeal of the criminal conviction of former Jeffrey Epstein associate Ghislaine Maxwell, Trump told reporters that he would have to speak with the Justice Department before commenting on a possible pardon. “I haven’t heard the name in so long, I can say this—I’d have to take a look at it,” the president said Monday.
The NHL’s ten highest-paid players are expected to bring in an estimated $167 million combined this season—8% more than last year’s record $156 million, as the league-wide outlook improves. Topping the list for the second year in a row is Toronto Maple Leafs captain Auston Matthews, projected to rake in approximately $20.2 million this season from his playing contract as well as endorsements and other business endeavors.
The Supreme Court began a new term Monday in which it is set to potentially rule on several key Trump Administration policies. The court will hear oral arguments next month on lawsuits challenging the president’s “Liberation Day” tariffs, and it will decide on whether Trump can fire Federal Reserve governor Lisa Cook.
DAILY COVER STORY
Located on 170 acres along a lake southwest of Dallas Fort Worth airport, the championship-length Halbert National is the latest creation by legendary golf designer Tom Fazio. David D. Halbert, a new Forbes 400 member who spent some $50 million to build the par 72 track, owns 100% of the course. There is no membership, and only Halbert’s friends and family can play the course.
The total price of Halbert’s satisfaction will be upwards of $70 million once he’s built out a lodge and acquired neighboring lots. “I want it to be nicer than Augusta,” says Halbert.
He can afford it. This is Halbert’s first year on the Forbes 400. In March the biotech he founded, Caris Life Sciences, went public, quickly surging to a market cap of $10.3 billion. He owns 44%, good for a net worth of $4.9 billion.
WHY IT MATTERS Although it’s fairly uncommon, other billionaires have built private golf courses, including Warren Stephens (net worth: $3.5 billion), whose Alotian course in Little Rock, Arkansas, is another Fazio masterpiece. Kelcy Warren (net worth: $7.3 billion), of pipeline giant Energy Transfer, owns the Lajitas course on the Rio Grande in west Texas. Ted Turner ($2.8 billion) has a course on his 9,000-acre Nonami Ranch in Georgia. Michael Jordan ($3.8 billion) built his Grove XXIII course on a former citrus plantation in Florida and has personally approved only a handful of members.
MORE Forbes 400
As luxury watch brands target the nation’s wealthiest, Meta CEO Mark Zuckerberg and social media star Jake Paul recently sported multimillion-dollar watches at combat sport events:
714: The number of natural emeralds in the Jacob & Co. Billionaire III worn by Paul at a September press conference
As much as $2 million: The amount that similar timepieces to those worn by Zuckerberg at a UFC 320 event in Las Vegas have sold for
About two dozen: How many “Billionaire” watches Jacob and Co. has made since 2015
As fewer professionals jump ship amid the era of the “Great Stay,” it’s important to remember that you don’t have to change employers to find strategic growth opportunities. Start by addressing internal pain points on your team and asking for stretch assignments. You can also take advantage of professional development benefits your company may offer and work on building an internal network.
Bari Weiss’ media startup The Free Press will be acquired in a deal worth $150 million. As part of the deal, Weiss will become editor-in-chief of which media outlet?
A. CBS News
B. NBC News
C. The Wall Street Journal
D. ABC News
Thanks for reading! This edition of Forbes Daily was edited by Chris Dobstaff and Caroline Howard.