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Dundee Corp is a public Canadian independent holding company. Through its operating subsidiaries, Dundee is an active investor focused on delivering long-term, sustainable value as a trusted partner in the mining sector with more than thirty years of experience making accretive mining investments. The company's reporting segments consist of mining investments, mining services, corporate and others.

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On Wednesday, Betsey Stevenson expressed her astonishment at Donald Trump&#8217;s running mate J.D. Vance and his supporters&#8217; economic optimism despite the Federal Reserve&#8217;s <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">recent rate cut. </a>
What Happened: Stevenson, a former Obama administration economic advisor, shared her views on X, stating, &#8220;I have to admit that I am pleasantly surprised that J.D. Vance and his supporters thinks the economy is too strong for the rate cut.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have to admit that I am pleasantly surprised that JD Vance and his supporters thinks the economy is too strong for the rate cut. <a href="https://t.co/UzHUaHfkJg">https://t.co/UzHUaHfkJg</a>
&mdash; Betsey Stevenson (@BetseyStevenson) <a href="https://twitter.com/BetseyStevenson/status/1836511962118992076?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
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Stevenson shared a video featuring a Vance rally where he was asked a question on Federal Reserve&#8217;s move to slash interest rates by 50 basis points. The crowd booed when the question was asked.
Vance said, &#8220;My reaction is half a point is nothing compared to what American families have been dealing with for the last 3 years.&#8221; In response to the Vice Presidential candidate&#8217;s answer, the crowd cheered.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40895240/wall-street-could-head-higher-as-traders-look-forward-to-retail-sales-data-ahead-of-fed-decision?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Firm Up Ahead Of Retail Sales Data</a>
Why It Matters: Stevenson&#8217;s post is particularly noteworthy given the ongoing debate around the implications of the rate cut. Republican presidential nominee Trump has <a href="https://www.benzinga.com/news/24/09/40931251/trump-isnt-happy-with-jerome-powells-50-bps-rate-cut-maneuver-i-guess-it-shows-the-economy-is-very-b">expressed skepticism</a> over the Federal Reserve's decision, suggesting it could be indicative of a faltering U.S. economy or a politically motivated action.
Stevenson&#8217;s surprise at Vance&#8217;s optimism might stem from her previous criticism of the Republican vice presidential nominee. She had earlier <a href="https://www.benzinga.com/news/24/08/40643613/jd-vance-slammed-by-ex-obama-advisor-for-spewing-frustrating-lies-on-tariffs-stresses-need-for-fact">rebuked Vance</a> for spreading misinformation about the effects of tariffs on consumer prices.
This comment comes in the wake of the Federal Reserve&#8217;s unexpected decision to slash interest rates by 50 basis points, marking the first rate cut in over four years. This move surprised Wall Street analysts who had anticipated a more modest 25-basis-point cut.
Image via Shutterstock
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Politics

Economics

Obama-Era Economist Says She Is 'Pleasantly Surprised' That JD Vance Thinks The 'Economy Is Too Strong For The Rate Cut'

The Federal Reserve implemented its first <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40929003/powells-hawkish-tone-tempers-market-excitement-after-historic-50-basis-point-intere">rate cut since March 2020</a>. The move aimed to combat inflation and economic concerns.
What Happened: The rate cut was widely anticipated, with an 85% likelihood leading up to the announcement. This anticipation led to a bullish reaction in both cryptocurrency and traditional equity markets. However, prices quickly reversed as traders executed buy orders.
Santiment <a href="https://insights.santiment.net/read/rate-cut-celebrations-are-likely-but-watch-for-retail-traders-ruining-the-party-8119?utm_source=twitter&amp;utm_medium=post&amp;utm_campaign=twitter_rate_cut_celebrations_insight_b_091824/&amp;fpr=twitter">noted</a> that this pattern is familiar, having been observed after events like the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) merge and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) halving. Traders often become euphoric, expecting prices to soar, only to be surprised by a retracement.
Despite the initial bullish reaction, the market&#8217;s response may not be as straightforward. Traders are advised to monitor sentiment and funding rates closely. Positive sentiment could indicate greed, while negative sentiment might signal a buying opportunity.
Two more rate cuts are expected by the end of 2024, potentially lowering interest rates by 100 basis points heading into 2025, according to the report.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883274/senator-warren-urges-fed-to-slash-rates-by-0-75-veteran-investor-warns-even-0-5-cut?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren Urges Fed To Slash Rates By 0.75%; Veteran Investor Warns Even 0.5% Cut Could &#8216;Reduce Trump&#8217;s Chances Of Winning&#8217;</a>
Why It Matters: The Federal Reserve&#8217;s decision to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">cut interest rates by 50 basis points</a> to a range of 4.75% to 5% marks a significant shift in monetary policy. 
Jerome Powell, the Fed Chair, defended the move, stating it was necessary to support the labor market and prevent economic harm. Powell emphasized the importance of acting preemptively to safeguard the economy, highlighting the Fed&#8217;s cautious, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">data-driven approach</a>.
The rate cut has <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40928301/interest-rates-in-free-fall-what-it-means-for-mortgages-credit-cards-and-your-wallet-a">broader implications for consumers</a>, potentially affecting mortgage rates, credit card interest rates, and auto loan rates. This trickle-down effect could influence consumer spending and borrowing behavior. 
Despite the initial market euphoria, Powell&#8217;s cautious remarks on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40929003/powells-hawkish-tone-tempers-market-excitement-after-historic-50-basis-point-intere">future rate path have injected uncertainty</a> into the markets. The Fed&#8217;s dot plot indicates further easing ahead, with additional rate cuts expected in the coming years.
Price Action: Bitcoin is trading at $61,950.10, up 0.32% in the last 24 hours. Year to date, it has gained 40.14%. Meanwhile, Ether is currently priced at $2,357.76, rising 0.92% in the last 24 hours. Year to date, it has increased 0.19%, according to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40890194/both-trump-and-harris-hold-undergraduate-degrees-in-economics-says-obama-era-economist-but-there-is?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Both Trump And Harris Hold Undergraduate Degrees In Economics, Says Obama-Era Economist But There Is One Candidate He Favors Over The Other</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Bitcoin And Ethereum Euphoria Built Around Rate Cuts Could Be Ruined By Retail Traders, Says Crypto Data Intelligence Platform

Sen. Bernie Sanders (I-Vt.), expressed his dissatisfaction with Donald Trump&#8217;s approach to the ongoing healthcare crisis in America.
What Happened: On Wednesday, Sanders took to X to voice his concerns about Trump&#8217;s handling of the healthcare crisis. He highlighted the fact that despite Trump&#8217;s four-year term as president, his current plan for addressing the healthcare crisis is inadequate. 
Sanders said, &#8220;We are in the midst of a serious health care crisis — 85 million Americans are uninsured or underinsured. Now he&#8217;s working on &#8216;a concept of a plan&#8217; ?? That&#8217;s not going to cut it.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> has been in three political campaigns. He was president for four years. We are in the midst of a serious health care crisis — 85 million Americans are uninsured or underinsured. Now he&#39;s working on &quot;a concept of a plan&quot; ?? That&#39;s not going to cut it. <a href="https://t.co/2aK8C9NSS7">pic.twitter.com/2aK8C9NSS7</a>
&mdash; Bernie Sanders (@BernieSanders) <a href="https://twitter.com/BernieSanders/status/1836549690071912865?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
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This post comes in the wake of the <a href="https://www.benzinga.com/news/24/09/40868605/trump-vs-harris-presidential-debate-sanders-on-healthcare-disparity-and-more-this-week-in-politics">presidential debate</a> between Trump and Vice President Kamala Harris.
Sanders shared a video in his post where an NBC anchor asked him about comments Trump made at the debate with Harris in regards to Obamacare. The former president had claimed that he saved The Affordable Care Act.The Vermont senator&#8217;s post was in response to this question.
See Also: <a href="https://www.benzinga.com/news/24/09/40899012/elon-musk-reacts-after-trump-campaign-releases-over-50-examples-of-democrats-rhetoric-that-inspired?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Trump Campaign Releases Over 50 Examples of Democrats&#8217; Rhetoric That &#8216;Inspired Assassination Attempt&#8217;</a>
Why It Matters: Sanders has been a <a href="https://www.benzinga.com/news/24/07/39784920/bernie-sanders-getting-sick-in-america-should-not-mean-going-bankrupt-losing-your-home-car-or-life-s">vocal critic</a> of the existing U.S. healthcare system, highlighting the financial burden it places on patients. He has previously stated that &#8220;Getting sick in America should not mean going bankrupt, losing your home, car, or life savings.&#8221;
Moreover, Sanders has pointed out the <a href="https://www.benzinga.com/news/24/09/40784837/bernie-sanders-says-if-youre-poor-in-america-youll-live-10-15-years-less-anybody-else-see-a-problem">disparity in health outcomes</a> between the rich and the poor in America, stating that the poor live significantly shorter lives.
Image via Shutterstock
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Bernie Sanders Is Not Having It When Trump Says He Saved Obamacare: 'That's Not Going To Cut It'

Microsoft Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) vice chair and president, Brad Smith, has raised concerns about potential foreign interference in the upcoming <a href="https://www.benzinga.com/topic/2024-presidential-election">2024 U.S. presidential election</a>.
What Happened: On Wednesday, during his opening testimony at a Senate Intelligence Committee hearing on <a href="https://www.benzinga.com/general/politics/24/09/40743037/putin-says-russia-backs-harris-and-her-infectious-laugh-for-2024-election-we-will-root-for-her">foreign election interference</a>, Smith warned of &#8220;real and serious&#8221; threats, <a href="https://thehill.com/policy/technology/4887227-microsoft-election-iran-trump-russia-harris/">reported</a> The Hill.
He pointed out that the election has become a battleground for foreign actors, specifically Iran and Russia, against presidential candidates Donald Trump and Kamala Harris respectively.
&#8220;We know that there is a presidential race between Donald Trump and Kamala Harris, but this has also become an election of Iran vs Trump and Russia vs Harris,&#8221; he stated.
See Also: <a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
Smith also shed light on the <a href="https://www.benzinga.com/news/24/09/40760931/trump-vs-harris-who-do-russia-iran-and-china-favor-in-2024-election-intelligence-officials-weigh-in">combined efforts of Russia, Iran, and China</a> in undermining democracy. He cited a recent Microsoft report that revealed Russian influence operations behind a false <a href="https://www.benzinga.com/news/24/09/40915084/kremlin-aligned-group-behind-false-hit-and-run-allegations-against-kamala-harris-microsoft-says">viral video accusing Harris of a hit-and-run</a>.
He stressed the importance of tech companies upholding two principles: preserving the right to free expression and protecting the American electorate from foreign deception.
Smith called on tech companies to put in place safeguards, especially around AI-generated content, and to educate candidates about AI risks.
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Why It Matters: Smith&#8217;s testimony comes at a time when concerns over foreign interference in the election through online disinformation and misinformation campaigns are escalating.
He testified alongside Nick Clegg, the president of global affairs at Meta Platforms, and Kent Walker, the president and chief legal officer for Google's Alphabet, the report noted.
On Tuesday, in a blog post, Microsoft revealed that its Threat Analysis Center noticed a <a href="https://www.benzinga.com/news/24/09/40912191/harris-walz-campaign-targeted-by-russian-hackers-microsoft-threat-analysis-center-notices-shift-in-t">shift in tactics by Russian hackers</a> who targeted the campaign of Democratic nominee Harris.
Earlier this month, the Justice Department seized over 30 web domains used by Russia for covert campaigns. The FBI also revealed that Iran was behind a hacking of the Trump campaign.
On Wednesday, the FBI said, &#8220;Iranian malicious cyber actors in late June and early July sent unsolicited emails to individuals then associated with President Biden's campaign that contained an excerpt taken from stolen, non-public material from former President Trump's campaign as text in the emails.&#8221;
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are &#8216;A Total Stupid Waste Of Time&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

MSFT

'This Has Also Become An Election Of Iran Vs Trump And Russia Vs Harris' — Microsoft President Brad Smith Warns About Foreign Interference In 2024 Election

In the run-up to the presidential election, Donald Trump, the Republican nominee, has voiced his disapproval of the Federal Reserve&#8217;s recent decision to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">slash its benchmark interest rate by half a percentage point</a>. Trump suggests this move could be indicative of a faltering U.S. economy or a politically motivated action.
What Happened: Trump expressed skepticism over the Federal Reserve&#8217;s decision. This critique comes as the November presidential election is just around the corner, <a href="https://www.ft.com/content/da9347a5-b4db-4987-94c9-2aeb20624726">reported</a> The Financial Times.
&#8220;I guess it shows the economy is very bad to cut it by that much, assuming that they are not just playing politics,&#8221; said Trump.
Trump has previously voiced his displeasure with Federal chair Jerome Powell, accusing the independent central bank of political bias. In a conversation with Bloomberg News, Trump cautioned Powell against reducing interest rates before the election. However, he also mentioned that he would allow Powell to complete his term as chair if he was &#8220;doing the right thing.&#8221;
In a separate discussion with Fox Business Network, Trump hinted at his intention to replace Powell, blaming him for being &#8220;political&#8221; and predicting he would lower interest rates to &#8220;help the Democrats,&#8221; according to the report.
Trump&#8217;s remarks were made just hours before a campaign rally in the suburbs of New York City on Long Island. His Democratic rival, vice-president Kamala Harris, also reportedly shared her thoughts on the Fed&#8217;s decision, stating the cut would be &#8220;welcome news for Americans who have borne the brunt of high prices&#8221;.
See Also: <a href="https://www.benzinga.com/news/24/09/40890590/chuck-schumer-says-if-government-shutdown-happens-it-will-because-of-republican-poison-pills-the-ame?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chuck Schumer Says If Government Shutdown Happens It Will Be Because Of &#8216;Republican Poison Pills&#8217; — &#8216;The American People Are Going To Hold Them Responsible&#8217;</a>
Why It Matters: The Federal Reserve&#8217;s decision to cut interest rates by 50 basis points marks the first rate cut in over four years, breaking a streak of 12 consecutive months with rates held steady. This decision came as a surprise to Wall Street analysts who had largely anticipated a more modest 25-basis-point cut.
Earlier this month, Trump had <a href="https://www.benzinga.com/general/politics/24/09/40861372/trump-says-no-federal-rates-cuts-before-2024-election-republican-congress-members-say-the-time-i">expressed his desire</a> for the Federal Reserve to leave rates unchanged ahead of the 2024 presidential election. However, investors and members of Congress were expecting a rate cut.
The anticipation among investors for a 50 basis point interest rate cut was growing, and this expectation could have <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40919701/investors-betting-on-50-basis-point-rate-cut-expert-says-market-pressure-could-sw">influenced the Federal Reserve&#8217;s decision</a>. The market was pricing in a 63% likelihood of a 50 basis point cut, a significant increase from 34% the previous week.
Image via Shutterstock
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump Isn't Happy With Jerome Powell's 50 Bps Rate Cut Maneuver: 'I Guess It Shows The Economy Is Very Bad'

Antivaccine advocate and former independent presidential candidate, Robert F. Kennedy Jr., stated that he might be appointed by former President Donald Trump to select leaders for key public health agencies, should the former president win a second term.
What Happened: Kennedy Jr. disclosed this information during a discussion with conservative commentator Tucker Carlson, as reported by <a href="https://thehill.com/homenews/campaign/4887585-rfk-jr-trump-fda-nih-cdc/">The Hill</a> on Wednesday.
He named the Centers for Disease Control and Prevention, the Food and Drug Administration, and the National Institutes of Health as agencies he might be involved with. Kennedy made this announcement during a Tuesday stop in Wisconsin on Carlson's live tour.
&#8220;President Trump has asked me specifically to do two things. One, to help unravel the capture of the agencies by corrupt influence. In other words, to drain the swamp. And, you know, I had to say something about President Trump,&#8221; said Kennedy Jr.
In a previous conversation with Carlson, Kennedy mentioned that Trump asked him to be part of his transition team if he secures a second term. However, Trump campaign spokesperson Karoline Leavitt labeled discussions about who will serve in a second Trump administration as &#8220;premature&#8221;.
Earlier this month, Democrats and the public health community voiced their concerns over the potential of Kennedy becoming the Health and Human Services secretary in a second Trump term.
See Also: <a href="https://www.benzinga.com/news/24/09/40890069/donald-trump-jr-doesnt-mince-words-democrat-donor-with-a-kamala-harris-bumper-sticker-on-his-car-tri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Jr. Doesn&#8217;t Mince Words: &#8216;Democrat Donor With A Kamala Harris Bumper Sticker On His Car Tried To Assassinate My Dad&#8217;</a>
Why It Matters: Kennedy&#8217;s potential role in a second Trump administration has been a <a href="https://www.benzinga.com/news/24/07/39898056/robert-kennedy-jr-eyes-role-in-trumps-administration-amid-endorsement-chatter-report">topic of discussion</a> for some time. According to a Benzinga report from July, Kennedy, then an independent presidential candidate, had talks with Trump about endorsing his campaign and possibly taking up a senior role in his administration.
In August, Kennedy <a href="https://www.benzinga.com/general/politics/24/08/40535286/rfk-jr-suspends-2024-presidential-campaign-endorses-trump-to-block-democrats-from-white-house">suspended his presidential campaign</a> and endorsed Trump. He stated that he didn&#8217;t believe he had a real chance of winning the 2024 election and that his continued presence in the race would result in a Democratic Party victory.
Image via Shutterstock
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Shaquille O'Neal is widely recognized as one of the greatest basketball players, but since retiring from the NBA, he&#8217;s gained significant <a href="https://www.benzinga.com/markets/24/07/39915962/shaquille-oneal-began-building-his-estimated-500-million-portfolio-by-investing-in-this-tech-titan-w?utm_campaign=partner_feed&amp;utm_source=yahooFinance&amp;utm_medium=partner_feed&amp;utm_content=real_estate">respect for his business expertise</a> and chance encounters.
What Happened: During a 2018 appearance on "The Ellen Show," Shaq shared two pivotal investment stories.
First, he recounted his &#8220;worst investment ever&#8221; — turning down Starbucks.&nbsp;
When Starbucks&#8217; then-CEO Howard Schultz proposed opening locations in African-American communities, Shaq&#8217;s response was skeptical. 
&#8220;Black people don&#8217;t drink coffee,&#8221; he said referring to his earlier thought. This misconception led him to pass on what could have been a lucrative opportunity.
"So now, every time I go to Starbucks, I see black people drinking coffee, I&#8217;m like… [he does a facepalm]."
See Also: <a href="https://www.benzinga.com/general/entertainment/24/09/40824404/shaq-once-said-the-earth-was-flat-and-then-it-cost-him-20m-it-was-like-500k-hate-mail">Shaq Once Said The &#8216;Earth Was Flat&#8217; And Then It Cost Him $20M: &#8216;It Was Like 500K Hate Mail&#8217;</a>
In contrast, Shaq then shared his successful Google investment story.
He recalled a chance encounter at the Four Seasons Hotel in LA around &#8217;93 or &#8217;94, where he was essentially babysitting someone&#8217;s kids during a meeting.
After the meeting, the impressed parent offered him an investment opportunity, saying, &#8220;In the future, you&#8217;re going to be able to type on your phone, search engine, this, do this, boom, boom, boom. You should invest.&#8221;
This turned out to be Google, and Shaq's decision to invest paid off handsomely. Google, now rebranded as Alphabet Inc. has a current market cap of $1.973 trillion, making it the fourth most valuable company in the world.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Shaq&#039;s Babysitting Gig Led to His Google Riches" width="500" height="281" src="https://www.youtube.com/embed/hKNRieaN0ZI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Why It&#8217;s Important: This anecdote highlights how unconventional networking can lead to significant investment opportunities in the tech world.
Shaq's Google investment marked the beginning of his successful post-NBA business career, setting him apart from the <a href="https://www.benzinga.com/general/entertainment/23/02/30945804/google-apple-lyft-and-ring-shaquille-oneals-track-record-of-phenomenal-startup-investments">65% of NBA players</a> who reportedly go broke within five years of leaving the game.
Earlier this month, the website CelebrityNetWorth estimated Shaq&#8217;s net wealth to be around $500 million. His investment portfolio includes stakes in various franchises such as Five Guys, Papa John&#8217;s, Krispy Kreme, and his own fast-food chain, Big Chicken.
Apart from Google, other <a href="https://www.benzinga.com/general/sports/24/04/38090549/7-basketball-legends-turn-investment-titans-shaq-lebron-and-more">notable company investments</a> include Ring video doorbell, which was later acquired by Amazon, and Apple.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40911877/jeff-bezos-had-a-habit-of-keeping-an-empty-chair-for-the-most-important-person-in-the-room-at-compan">Jeff Bezos Had A Habit Of Keeping An Empty Chair For The Most Important Person In The Room At Company Meetings: This Strategy Helped The Amazon Founder Build The E-commerce Giant We Know Today</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Shaquille O'Neal's Estimated $500M Portfolio Includes A Big Bet On Google, But Big Shamrock Made A Critical Error That Makes Him Facepalm Each Time He Steps Into A Starbucks — 'Worst Investment Ever'

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