The bottom line
Twenty-five families now control almost $1.4 trillion in wealth. The world’s wealthiest family, the Waltons of Walmart, have grown their fortune by $39 billion to $191 billion since June 2018—an increase of $4 million every hour.
Verizon is selling the social network Tumblr to Wordpress for $3 million. That’s a discount of more than 99 percent from the $1.1 billion that Yahoo, now owned by Verizon, paid for Tumblr in 2013.
New York City’s Uber and Lyft drivers have one overwhelming ride of choice: Toyota Camry. The model makes up 38 percent of the 72,000 nonpremium app-dispatched vehicles in the city.
The Wall Street Journal
Saudi Aramco, the kingdom-owned oil group, earned $46.9 billion in profits in the first half of this year. That’s down 12 percent from the year before, but almost eight times what Amazon made. The company is preparing for an IPO said to be valued at $2 trillion.
SpaceX launched the cremated remains of 152 people on its Falcon Heavy rocket into space. A company called Celestis facilitated these “funeral flights,” charging over $5,000 for 1 gram of “participant” ashes.
Boeing sold zero new 737 Max jets for the fourth straight month. The jetmaker, however, still has a backlog of 4,600 orders left to fill.