CBX Daily 11/8/2024

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CultureBanx Team
November 08, 2024

Today, the wealthy are leaning toward family offices to shelter their stock, but let’s start with how America’s elderly may be affecting the wealth clock…

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Is America’s Aging Population Impacting The Wealth Gap

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The 21st-century American household is significantly different from what it was a few decades ago, from 4.6 persons to 2.65 persons. An aging U.S. population has also significantly influenced the household composition shift, with the average African American in their mid-30s. Between 2010 and 2017, the share of adults ages 45 to 64 declined from 35% to 33%, while the share ages 65 and older increased from 17% to 20%. This change in the share of U.S. households by income and age can have several implications for the future of the African American community.

Family Offices Are The Elite's New Go-To Wealth Management Strategy

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Stocks and bonds are no longer the go-to investment option. The crème de la crème are exploring alternative investment opportunities and family offices seem to be quenching their thirst. In just five short years, family offices have jumped from managing $3.3 trillion to $5.5 trillion. And that's not all. By the close of this decade, the wealth managed by family offices will increase to 189%.

TKO Group Ropes In 'The Rock' In A $3.25 Billion Acquisition

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In a bold move that’s electrifying the sports entertainment world, TKO Group Holdings Inc (TKO +0.04%) is acquiring Professional Bull Riders (PBR), On Location, and IMG for a staggering $3.25 billion. The mega-mind behind this uber-merger is none other than Dwayne "The Rock" Johnson, whose Hollywood star power shows no signs of dimming. This move is aimed at expanding the sport portfolio of TKO Group.

Tune-in Tuesdays!

It’s D-Day and celebrity endorsements have been a focal point in campaign strategies. However, will these endorsements translate to actual impact on voter behavior, engagement, and the overall political landscape or is it superficial engagement?

A. “With a Little Help from My Friends" by Joe Cocker - When it comes to mobilizing voters, celebrity endorsements can break down barriers. They can reach audiences that traditional political messaging might miss.
B. "Hotline Bling" by Drake - Voters might feel that celebrity endorsements are just noise, often missing the real call to action.
C. "Me, Myself And I" by Beyonce - Celebrities will go to great lengths for their interests, potentially sidelining the needs of the very communities they claim to support.

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and it looks like we all believe in migrants and so ‘We take care of our own’ regardless of who wins.

Artificial Intelligence Is Keeping 65% Of Businesses Frozen With AI-nxiety

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Business leaders across industries are feeling anxious over their newfound responsibility to implement, regulate machine-learning software. The benefits of artificial intelligence (AI) are endless when it comes to decision-making for complex industries, leading to 65% of businesses feeling like they are suffering from AI data bias. Generative A.I. is projected to add $4.4 trillion in value to the global economy, however the consequences of its usage is more worrying considering datasets currently used to train the technology are designed through a white patriarchal lens.

Crypto Backers Are Leading The 'PAC' This Election Cycle

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The cryptocurrency sector is leading the pack on corporate spending during this 2024 election cycle. With over $119 million dollars spent to influence federal elections, primarily by Coinbase and Ripple, crypto backers are putting their money where their mouth is and our presidential candidates are taking notice. Donald Trump, who was previously skeptical of cryptocurrencies, has spoken at Crypto conferences this year and has pledged to make the U.S. the Crypto capital of the planet. Kamala Harris’ team has similarly reached out to crypto-backing organizations to discuss further alignment of interests. 

Vibes of the Week

Is it time for America to smell the "Coffee" as far as how the elderly influence wealth? Pink Sweat$ asks in our CBX Vibes!