Caitlin McCabe

The growth of the billionaire class was partly due to the soaring valuations of tech companies and rising stock markets.

UBS found that the new self-made billionaires created in 2025 were entrepreneurs from a range of fields.

They include Ben Lamb, founder of Colossal Biosciences, a company working to de-extinct several extinct animals.

The list also includes crypto billionaire Justin Sun.

You might remember him as the guy who paid more than $6 million at a Sotheby's auction last year for a banana duct taped to a wall.

And that's it for What's News for this Thursday morning.

Today's show is produced by Hattie Moyer and Daniel Bach.

Our supervising producer is Sondra Kilhoff.

And I'm Kaitlin McCabe for The Wall Street Journal.

We'll be back tonight with a new show.

Until then, thanks for listening.

It's Fed Day, but a bit of an unusual one, as the government shutdown leaves officials without their typical data.

Plus, why white-collar jobs in the U.S.

are vanishing.

And America leads with the most billionaires worldwide, but no one is safe.

It's Wednesday, October 29th.

I'm Caitlin McCabe for The Wall Street Journal, and here's the AM edition of What's News, the top headlines and business stories moving your world today.

All eyes are on the Federal Reserve today, which will announce its latest policy decision at 2 p.m.

Eastern.

Investors widely expect the central bank to cut rates by a quarter percentage point, lowering the target range for the federal funds rate to 3.75 percent to 4 percent.