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Azim Premji, Founder Chairman of Wipro, speaks during the inauguration of the Wipro Hydraulic Plant in Jaipur, Rajasthan, India, on Aug. 22, 2024. Vishal Bhatnagar | Nurphoto | Getty ImagesA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Investment firms of ultra-wealthy families dialed back their deal-making in March as the Iran conflict rattled the market. Family offices made 39 direct investments in companies last month, a 25% drop from February when adjusted for month length, according to…

A Starbucks barista fulfills an order in a South Philadelphia store.Mark Makela | ReutersStarbucks will award baristas and shift supervisors quarterly bonuses of $300 if their stores hit certain targets to aid the coffee chain’s turnaround efforts, the company said Thursday.The program will begin in July, with the first payout coming in the fall to store employees who meet or exceed specific sales, operational and customer service metrics, Starbucks Chief Operating Officer Mike Grams and Chief Partner Officer Sara Kelly wrote in a memo to employees on Thursday.However, baristas at locations represented by Starbucks Workers United likely will not see…

Blue Owl is experiencing elevated redemption requests for two of its private credit funds, according to letters to shareholders issued Thursday.The firm’s flagship OCIC fund, with about $36 billion in assets under management, received redemption requests of about 21.9% of shares outstanding during the first quarter, the firm said. Blue Owl’s smaller, tech-oriented fund, OTIC, received redemption requests of 40.7% during the same period, it said. In both of the funds, Blue Owl opted to cap requests at 5%. Blue Owl attributed the higher-than-usual requests to “heightened market concerns around AI-related disruption to software companies.””We continue to observe a meaningful…

Thomas Barwick | Digitalvision | Getty ImagesA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.While many wealthy parents are breathing a sigh of relief over estate tax changes in last year’s tax bill, some are questioning whether they gave too much to their children — and how to get some of it back.Before the passage of the One Big Beautiful Bill Act last summer, the estate tax exemption was set to be cut in half to about…

Supplement brand Thorne is on pace to reach $650 million in annual revenue this year, fueled by Gen Z and millennial shoppers who are increasingly focused on improving their health, CNBC has learned. The 42-year-old supplement brand, which L Catterton took private in 2023, has sustained a compound annual growth rate of over 30% since the acquisition, according to the company. Between 2022 and 2025, its revenue more than doubled from $229 million to over $500 million, according to filings and the company. Meanwhile, the number of consumers who shop with the brand directly has grown to about 7 million, up…

Chris Hatfield is a self-described “fast nickel, not slow dime” seller. This emphasis on speed makes sense given the eye-popping amount of product he moves: Hatfield, 43, spends five days a week digging through Goodwill bins in Texas. He and his wife, Stacy, aim to scoop up 150 to 200 pounds of clothes, bags, and other items — priced at $1.99 per pound — each day. He calls her strategy for grabbing merchandise “the claw machine,” snagging anything decent in sight. By contrast, he says he’s more judicious — he doesn’t wear gloves so he can feel quality out. At…

AI is adding pressure to the already heavy decision of choosing a college major. Loading audio narration… One in six students, roughly 16%, say they’ve changed their major because of AI’s impact on the job market, according to a survey from Gallup and Lumina Foundation of around 3,800 students.The report, released Thursday, also found that 47% of college students have given at least a fair amount of thought to switching their field of study for the same reason.”This is one of the clearest signals we’ve seen that students are rethinking what their futures are in response to AI,” Dr. Courtney…

KPMG US doesn’t only want its tax pros using software — it wants them building it, too. Loading audio narration… In January and February, the company completed a six-week pilot involving about 30 tax experts working in small teams with engineers to vibe code workable software prototypes.Many of the participants, who included associates and managers, didn’t have deep technical backgrounds, Brad Brown, the company’s chief digital officer for tax, told Business Insider.”By the end of six weeks, they were vibe coding solutions,” he said. “Right before your eyes, you’re starting to see the evolution of how they were going to…

One year ago, Trump announced his now-infamous Liberation Day tariffs. Loading audio narration… In the stock market, the immediate result was a vicious stock sell-off that sent US indexes spiraling to the brink of a bear market. Global investors — rubbed the wrong way by the prospect of higher prices — rebelled with the “Sell America” trade and dumped US assets.The economic impact was less immediate, and we’re only now getting a sense of what the ultimate effect may be.For the one-year anniversary, the Tax Foundation — a non-partisan think tank — looked back at four proposed economic objectives Trump…

As states across the US join the patchwork legal battle against prediction markets, California — one of the country’s last and largest holdouts against legal sports gambling — has mostly stayed on the sidelines. Loading audio narration… That’s no guarantee that it will stay that way forever, according to the state’s top law enforcement official.”We are very protective of our sovereignty,” Attorney General Rob Bonta told Business Insider on Tuesday.Bonta said his office has been “firmly engaged” on prediction markets and “firmly disagrees” with the view that the US Commodity Futures Trading Commission’s oversight of prediction markets pre-empts states’ ability…