Oracle, Microsoft, and Amazon helped push hyperscaler capex past $400 billion in 2025, a figure that exceeded combined operating cash flow for the first time.
Meta and Alphabet fund an AI buildout projected at $9 trillion through 2032, averaging 3.22% of GDP and topping railroads' historic 2.24% share.
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Railroads made Cornelius Vanderbilt America's richest person by the 1860s, dying in 1877 with an estate estimated at $95 million to $105 million, larger than U.S. Treasury holdings. By share of GDP, Vanderbilt places third among the richest Americans, behind Rockefeller and Carnegie. Within years, his industry's financing gave way, a warning for today's AI expansion.
The rail network doubled from 35,000 to 70,000 miles between 1865 and 1872, with bonds financing more than three-quarters of it. On September 18, 1873, Jay Cooke's bank failed. The New York Stock Exchange closed for ten days, its first closure ever.

#railroads #amazon

Henry Phipps built Bessemer Trust in 1907 to professionally manage irrevocable trusts for his five children, and this structure is one that estate lawyers still replicate today.
The 2026 GST exemption hits $15 million per person, letting dynasty trust ******* ets skip transfer taxes across grandchildren and beyond.
Trusts hit the 37% federal tax rate on retained income above just $16,000, compared to $640,600 for individual filers, which makes professional trustees essential.
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Henry Phipps co-founded Carnegie Steel with Andrew Carnegie, then spent decades deciding what to do with the money. In 1907, he formed Bessemer Trust as a family office with a staff devoted solely to his family's affairs, and he set up trusts for his five children. The trusts came with professionals hired to run them, and that's the part worth studying. An estate lawyer can still build a modern version, usually called a dynasty trust. Whether a family needs one depends mostly on the size of its estate.

#trust #henry #carnegie

With 8.5 million people spread over just 300 square miles, New York is the most populous city in America. Home to Broadway, Wall Street, the Met, Lincoln Center, Carnegie Hall, the Comedy Cellar and, of course, the news media, New York is where the conversation starts and ends.
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#anne #hathaway

A federal judge blocked Trump's name from being added to the building.
President Donald Trump said on Wednesday the Kennedy Center could "close" or be "ripped down" if his administration doesn't receive recognition on the performing arts center as tensions over his name being removed mount.
"I think that the Trump administration should certainly have recognition. Because frankly, if we don't do that, it's going to close. It'll end up being ripped down," the president told reporters on the tarmac in North Carolina.
Trump claimed that the Kennedy Center was a "mess" without his intervention and "has lost 10s of millions of dollars, even hundreds of millions of dollars," comparing it to New York's Carnegie Hall.
The president's comments come after a federal judge on Tuesday blocked the performing arts center's board from adding a tribute to Trump on the building or site. He responded by saying he wouldn't spend congressionally approved funding for the center's renovation unless the building also bears his name.

#blocked

Suri Noelle knows what she wants. After years of speculation about the future of her career and creative pursuits, the 20-year-old daughter of Katie Holmes and Tom Cruise made her acting debut in Scotland. It proves that she's following in her parents' footsteps and is pursuing acting at Carnegie Mellon University.
Suri Cruise made her acting debut in Edinburgh (Camera Press/The Grosby Group)
Photos shared this week show Suri on the production of "Midsummer!" her school's adaptation of "A Midsummer Night's Dream," which is currently touring Scotland, at the Edinburgh Festival Fringe.
The images show Suri in period costume, wearing a purple skirt, a darker purple vest, and a yellow long-sleeved shirt. Her look was completed with her hair in a bun and a hat. Suri is seen on the stage, saying her lines as she appears to be smiling.
She is playing the characters of Helena, Mustardseed, Flute, and Thisbe throughout the show's runtime, which will run from August 6th to the 19th.

#Scotland #midsummer #show

Adrian E. Allison, chief relationship officer at the Pro Football Hall of Fame, is a proud graduate of the Canton City School District. He would later become the youngest superintendent and the first African American to serve in that role.
Allison, 54, and his family now reside in Jackson Township. He has been married for 28 years to his college sweetheart, Krista. They have two daughters, both of whom are McKinley High School and The Ohio State University graduates: Averi (who also earned her master's degree from Carnegie Mellon University) and Anastasia.
He graduated from Baldwin-Wallace University and then followed his girlfriend (now his wife) to law school at Case Western Reserve University. Allison began his career as an Ohio ******* istant attorney general, then served as an executive at the Ohio Department of Education and eventually joined the Canton City School District before becoming superintendent in 2013. He joined the Hall of Fame in 2019.
"No matter where I travel in this country, I proudly wear Hall of Fame apparel," Allison said. "In every community I visit, people immediately recognize the iconic logo and know exactly where it belongs: Canton, Ohio. That recognition is something I never take for granted. I am honored to be ******* ociated with an institution that has become synonymous with excellence. And the link to Stark County can never be separated.
"Working for the Hall is especially meaningful because I have the privilege of representing our community, my community, which has embraced and sustained the Hall for more than six decades."

#ohio #school

Suri Cruise, the daughter of Tom Cruise and Katie Holmes, has legally dropped her father's last name and chosen a surname that honors her mother instead, according to a Page Six report.
Rather than adopting Holmes as her last name, Suri opted for Noelle, her mother's middle name. While it's unclear when she officially changed her last name, Page Six reported that she registered to vote in Allegheny County, Pa., under the name Suri Noelle during her freshman year at Carnegie Mellon University in October 2024. She first made headlines in June 2024, when she graduated from New York City's LaGuardia High School and was listed as Suri Noelle in the ceremony pamphlet.
The reported name change comes after years of estrangement from Cruise. Following her parents' divorce in 2012, Suri moved from Los Angeles to New York City with Holmes, who was granted full custody, according to the Hollywood Reporter. The Mission: Impossible star was ordered to pay $400,000 annually in child support, plus medical, dental, education and insurance expenses, until Suri turned 18, the outlet reported.
Before moving to Pittsburgh, Pa., Suri, who has often been described as the spitting image of her mother, was frequently spotted out and about in New York City.
"We are committed to working together as parents to accomplish what is in our daughter Suri's best interests," read a joint statement from Holmes and Cruise following their divorce in 2012. "We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents."

#name #cruise #noelle

Tom Cruise and Katie Holmes' daughter Suri has dropped her famous last name, according to Page Six.
State voter records show a "Suri Noelle" with the same age and birth date as the former Suri Cruise in Allegheny County, Pennsylvania, the location of Carnegie Mellon University, which the 20-year-old is widely reported to be attending.
Katie Holmes shares photos from daughter Suri Cruise's 14th birthday
Noelle is Holmes' middle name. It was not immediately clear when the name change occurred.
People reported in 2024 that Holmes and Cruise's daughter used the last name "Noelle" at her high school graduation that summer.

#name #noelle

Tom Cruise and Katie Holmes' daughter has legally changed her name from Suri Cruise to Suri Noelle.
Voter-registration records obtained by People show that the 20-year-old registered in Pennsylvania under the new name during her freshman year at Carnegie Mellon University. Noelle is Holmes' middle name.
Suri had already begun using the name publicly before starting college. She was identified as Suri Noelle in the program for her June 2024 graduation from New York City's LaGuardia High School and in an earlier school-theater production.
The location and date of the formal name-change process have not been disclosed.
Suri registered to vote in Allegheny County, Pennsylvania, in October 2024, shortly after beginning her first year at Carnegie Mellon. The registration lists her as Suri Noelle, according to People.

#suri #year #cruise #mellon

BANGKOK (AP) — When China launched a ballistic missile into the South Pacific Ocean on Monday, it was a rare test of a nuclear-capable weapons system that drew international rebuke.
Arriving two years after a similar missile launch in international waters in the Pacific, the test by the People's Liberation Army caught the attention of small island nations whose leaders have increasingly urged bigger countries to stop using the vast oceanic region for power struggles. But Beijing's message was largely for just one country, experts say: the United States.
"The most important message is the PLA is becoming a powerful military with a very strong strategic nuclear capability," said Tong Zhao, a senior fellow with the Nuclear Policy Program at the Carnegie Endowment for International Peace, a think tank.
The test, launched from a nuclear-powered submarine, was a demonstration of the sea-based leg of China's nuclear triad capability, which refers to the ability to have land, sea, and air-based nuclear systems.
Further, it showed that China's military has what is called a second-strike capability, said Dominic Meagher, a research fellow at the Crawford School of Public Policy in Australia. That means even if China was attacked first, it still has the ability to strike back, because the ability to fire could be anywhere, in the ocean or on land.

Moscow is profiting from the Iran war for now — but experts say Russia's economy is in the 'death zo...

Russia has found itself in the curious position of benefiting from the turmoil hitting its Middle East partner and ally, Iran.
Tehran’s almost total closure of the Strait of Hormuz has caused global oil and gas prices to surge, filling the coffers of major oil and gas producers like Russia.
Sergey Vakulenko, senior fellow at the Carnegie Russia Eurasia Center, told CNBC Tuesday that Russia’s windfall from the Iran war resulting energy price growht ran into the billions of dollars.
“So