Daily dozen | Forbes: Barbarians At The Blockchain; Gates Foundation’s New Timeline; Female NFL owners

Florida residents are bracing for the impact of Hurricane Ian, which was upgraded to a storm on Monday morning. Adjustments to key technology sanctions mean Iran could soon have internet access restored via Elon Musk’s satellite service. Black founders of electric vehicle startups are working to ensure that black communities also benefit from the health outcomes of America’s transition to electric cars.

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In the news today

• Oil prices plunged to their lowest level since January early Monday, with the price of international benchmark Brent crude falling below $85 a barrel. West Texas Intermediate, the US benchmark, temporarily fell as low as $77.22 a barrel. Fears of recession, high inflation and a strong US dollar have dampened global oil demand. More: The British pound fell to a record low against the US dollar in the wee hours of Monday as well.
• The unusually calm start to the 2022 Atlantic hurricane season has been turned on its head as Florida prepares for Hurricane Ian, which strengthened to major storm status Monday morning. It is the first significant threat to the US mainland this season after Hurricane Fiona hit Puerto Rico last week. Republican Florida Governor Ron DeSantis issued states of emergency for every county in the Sunshine State.

Top take-aways

A growing rash of economists warn that the chances of a recession have increased amid a historic yield curve inversion — a clear sign of a looming economic slowdown after the Federal Reserve last week raised interest rates to the highest level since the Great Recession and signaled that policy would become more aggressive than previously expected. More: What the Fed’s rate hike will mean for holiday shopping.

Almost a week after Iran’s internet went dark amid widespread – and deadly – anti-government protests following the death of 22-year-old Mahsa Amini in police custody, Elon Musk’s Starlink satellite service may be able to start offering internet access after US officials eased key technology sanctions.

As the SEC Cracks Down on Wild West Cryptocurrency Firms, a new breed of blockchain application, created from the ground up to be securities, emerges to meet the demand. This month, private equity giant KKR opened up a portion of its $4 billion Health Care Strategic Growth Fund II to be tokenized on the Avalanche blockchain, giving access to the asset class to investors with a fraction of the fortune normally required.

Bill Gates puts a timeline on the Bill & Melinda Gates Foundation. Speaking at the 2022 Forbes 400 Philanthropy Summit, the Microsoft founder-turned-philanthropist announced his foundation’s plans to close in 25 years. There is still a long way to go to “bring infectious diseases, or anything diseases that make the world unfair” largely toward the end. The announcement came just two months after Gates made a record $20 billion gift to the foundation.

Black founders of electric vehicle charging startups are trying to make sure black people aren’t left behind America is moving to electric vehicles. At stake, they say, is a chance to improve health outcomes in high-pollution areas and increased economic opportunities associated with EV adoption.

Rihanna will headline next year’s Super Bowl halftime show, a performance that could mark the singer’s return to music since becoming a billionaire thanks to the success of her cosmetics line, Fenty Beauty. The February 12, 2023 performance in Glendale, Arizona will be the first since the NFL partnered with Apple Music for the halftime show, replacing Pepsi as the sponsor.

Today’s must-read

Mark Cuban is considering leaving Shark Tank as he bets his legacy on low-cost drugs

Blockchain, basketball, Broadcast.com: Mark Cuban has never lost his passion for disruption. Now the billionaire entrepreneur has an ambitious plan to take on Big Pharma and lower the cost of prescription drugs once and for all. And after 13 seasons, this savvy shark may finally be ready to leave the tank.

In case you missed it

Most female NFL owners inherit a layer from a father, husband or brother. Now someone is buying into football. Meet billionaire Tennessee Titans owner Amy Adams Strunk—and nine other women who are changing the game.

Tips you can trust

• Chances are, you hired a financial advisor as well high hopes for wealth and financial independence. But if your wealth growth slows or communication slows down, a breakup may be in your future. Here’s how you know when it’s time to change your financial advisor.
• There is a lot of misinformation floating around student loan forgiveness, including details about who qualifies and whether there’s anything consumers can do to qualify if their income doesn’t quite meet the mark. We’re on top of every part of the student debt plan, including if there are ways to legally lower your income to qualify.

Must see video

Inside King Charles III’s Outrageous Fortune

As the new head of The Firm, Charles now oversees around $42 billion in assets and inherited $500 million from Queen Elizabeth II, including her castle, jewels, art collection and horse farm – all tax-free. It’s good to be king.

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