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Amazon CEO Now the Richest in History

Jeff Bezos has an absurd amount of money.

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Bloomberg’s billionaire tracker indicated late yesterday that Jeff Bezos, founder and CEO of Amazon, has broken the record for richest person in history. His current net worth, according to CNN Tech, falls somewhere between $104.4 billion and  $105.1 billion.

Bezos earned the title of world’s richest person back in July, when he briefly passed Bill Gates, but lost the spot soon after. Bezos’ new worth, however, breaks a record that Gates previously held back in 1999: richest person, ever.

Bezos’ success is largely due to a 12-month surge that has lifted Amazon.com’s value by about 57%, according to Fortune. It is also important to note that Gates’ estimated worth has been heavily impacted by the amount of money he has donated through the Bill and Melinda Gates Foundation; Bloomberg estimates without these donations, Gates would be worth approximately $150 billion.

Carla is a recent graduate of Touro College in New York City, where she always wondered if being on the debate team was an acceptable replacement for athletics. She has previously worked for the Mayor's Office of New York, as well as ABC7 Eyewitness News. She will happily accept any job offers and can be reached via Twitter.

Business

Trump Has a Really Big Budget Proposal

And it might hit higher education right where it hurts.

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The president is feeling confident about his 2019 budget (Image: Wikimedia Commons)

The White House’s 2019 budget proposal was released yesterday, with the bold headline being that the administration wants $4.4 trillion for the year. The proposal bears President Trump’s vision of an America armed for war, paid for in part by an America that doesn’t prioritize education.

The $4.4 trillion is a dramatic increase from the amount of money the Trump administration spent during 2017. Much of the added funds would go toward military spending and toward funding a wall on the border between the United States and Mexico.

“We’re going to have the strongest military we’ve ever had, by far,” the president said. To “balance” the federal budget see-saw, Trump removes weight through cuts, scientific research, public broadcasting, and domestic programs benefitting the poor and middle class, such as student loans.

The proposal would also reduce funding for social programs like Medicaid and Medicare. Even with these cuts, government spending is projected to increase the federal debt by at least $7 trillion by 2027.

According to CNBC, “The proposal would sharply curtail income-based repayment plans, scratch the Public Service Loan Forgiveness Program, and embolden the government to go after students who don’t pay their loans and cut funding for federal work study in half.”

Implementation of such changes to loans would be seen by borrowers only after July 1, 2019. 

As lawmakers from both parties digest the details, they will be arming for a potentially long struggle toward approval in the weeks ahead.

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Dunkin’ to Stop Using Foam Cups by 2020

And it’s about time, too.

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There has always been something different about getting coffee from Dunkin’ Donuts. It’s a no-frill — but super tasty — alternative to Starbucks or your local brewer, with down home, no-frills feel.

And they serve their brew in those foam cups. Comforting and easy to grab, sure, but not very good for the environment.

Dunkin’ announced today that those polystyrene foam cups will be completely phased out from its stores globally by 2020, reducing the waste stream by millions.

Foam packaging of any kind decomposes very slowly, washes into waterways and can harm sea life and other creatures who depend on the water supply to live.

McDonald’s also said it will get rid of any remaining foam cups in the next few years as well, though they have already drastically reduced dependance on them.

So raise one to Dunkin’ for taking a step in an environmentally friendly direction.

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Business

Buzzfeed and NBC Launched a ‘Millennial Parenting’ Channel Today

Playfull is aimed at parents aged 20-34, which is you, college students with kids.

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NBCUniversal and BuzzFeed launched something that is being called a “millennial parenting channel” today on Facebook.

Peggy Wang, BuzzFeed’s editorial director for lifestyle brands told Digiday that the focus will be giving parents valuable and relatable information with a BuzzFeed bent. Those parents are in the age range of 20 to 34, meaning it would include some college students.

Expect to see a 15-second commercial that will air during the Winter Olympics pushing the Playfull brand.

The idea behind Playfull is to replicate the success of other lifestyle platforms like Tasty and Nifty. Together, those two channels have over 100 million followers on Facebook.

Here’s the video that appeared on Playfull’s page this morning:

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