Disney succession, SBF speaks, and tech billionaires' California dream: Leadership news roundup

Former cryptocurrency billionaire Sam Bankman-Fried was sentenced to 25 years in prison last week for perpetrating one of the biggest financial frauds in history. Now he says that he’s “haunted, every day, by what was lost.”

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Now that Disney has prevailed in its months-long and expensive proxy battle with activist investor Nelson Peltz, some investors will be eager to see the media giant take steps to ensure a successful transfer of power CEO Bob Iger steps down in 2026.

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At least 13 countries around the world have adopted “right to disconnect” laws in recent years, banning employers from forcing workers to always be ready to answer emails and phone calls outside of work hours. And California could be next if new legislation makes its way through the state legislature.

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Citadel founder and CEO Ken Griffin is worried about the national debt — and what it could mean for your great-grandkids. Griffin called the “surging U.S. public debt” a “growing concern that cannot be overlooked,” in his year-end letter to investors on Monday.

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Warner Bros. Discovery directors Steven Miron and Steven Newhouse are resigning after the Department of Justice said it was investigating whether the duo was violating antitrust laws, the company said in a statement.

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Elon Musk has spent the better part of a year complaining about “illegal immigrants” who are “invading” the country. But an old video from 2013 resurfaced on Saturday that appears to show the billionaire admitting he was at one point building his small business in the country illegally, describing it as a “gray area.”

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Less than a year ago, we learned that a bunch of Bay Area tech billionaires had their sights set on creating a brand new city out of thousands of acres of California farmland. The so-called California Forever project, initially announced last August, has captured the world’s attention with its god-like ambitions and impressive financial backing. With support from the likes of Marc Andreessen and Reid Hoffman, the project has an ample financial war chest and a veritable army of people working overtime to make sure that this pipe-dream-esque concept becomes a reality.

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