CBX Daily 10/15/2025

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October 15, 2025

Today, Black Millennials Are Getting On Track To Create Generational Wealth… but let’s start with how Millennials Are Redefining Spending, Swapping Paychecks For Pets And Prosperity.

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Millennials Redefine Spending As They Trade Paychecks For Pets

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For many millennials, pets aren’t just companions—they’re financial priorities. With 34% of millennials willing to turn down higher-paying jobs to be with their pets, it’s now clear that furry friends are influencing financial decisions in a big way. Reports show that the pandemic, which decimated other businesses, only accelerated the growth in the pet business. Pet ownership surged during the Covid-19 pandemic, and today, over 66% of U.S. households own a pet, spending more than $136 billion annually.

Black Millennials Getting On Track To Create Generational Wealth

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Millennials are set to become the largest generation and portion of the workforce in the U.S. though they continue to lag behind Baby Boomers when it comes to creating generational wealth. People 57 to 75 years old, control 53% of the country’s total wealth, and have a far larger share of the country’s wealth than millennials when they were the same age, 21% compared to the millennials’ 4.6%. Building generational wealth, financial assets passed down from one generation to another, is an uphill battle for millennials, particularly Black millennials whose financial legacy is imperative in closing the racial wealth gap.

No Injunction for Michael Jordan’s NASCAR Team in Ongoing Lawsuit

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It’s been a challenging race to the finish line in the latest lawsuit between NASCAR and Michael Jordan’s 23XI Racing team. This tit for tat began with 23XI Racing and Front Row Sports declining to sign a new NASCAR charter agreement, which the aforementioned teams felt would jeopardize their fair share of the race purse. So in a bid to increase the revenues and influence of NASCAR Cup Series, Michael Jordan and Front Row MotorSports took legal action against the organization and chairman Jim France. Their suit claimed NASCAR’s actions violated antitrust laws, however NASCAR has since filed a countersuit which accused Jordan’s team of “interfering with” negotiations and “threatening boycotts of NASCAR events”. 

New Trump Rule Could Make It Harder for the Poor To Get Medicaid

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President Donald Trump’s new tax and spending law will likely force more than half the states to reduce payments to doctors and hospitals that treat Medicaid patients, a change critics warn will be particularly harmful to rural hospitals struggling to stay afloat. Medicaid, the joint state-federal health insurance program for those with a low income, reimburses doctors, hospitals and nursing facilities for treating enrollees. The new law will reduce Medicaid spending by $149 billion over the next decade, and reduce Medicaid provider payments in as many as 31 states.

Nike Bets on Inclusive Partnerships to Strengthen Brand Value

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Nike’s (NKE -0.79%) latest earnings report may show a dip, but don’t get it twisted, the Swoosh is still scoring big when it comes to cultural capital. During its fiscal Q4 2025, the sportswear giant reported a 12% year-over-year decline in revenue, falling to $11.1 billion, yet investors responded with optimism. Why? Because Nike is doubling down on its core advantage: cultural relevance through athletes and storytelling.

Keep your midweek vibe higher with “Nah” by Khalid, which is setting the tone in this week’s CBX Vibes.