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President Joe Biden announced Sunday that he will no longer seek the Democratic nomination, throwing his support behind Vice President Kamala Harris.
Not long after the announcements, business leaders took to social media to share their thoughts and feelings about Biden’s decision. While he didn’t directly comment on the announcement, Mark Cuban was among the first to post a message on X addressing Biden’s decision to step down. He kept it short and sweet: “Father time is undefeated.”
Tesla and SpaceX chief Elon Musk seized on Biden’s announcement to share his excitement about the Republican ticket of Donald Trump and J.D. Vance in a thread of posts Sunday on X.
And Melinda French Gates, who endorsed Biden’s reelection bid late last month, made a heartfelt post on X thanking the president for his work and urging Americans to vote against Trump.
They weren’t the only leaders to weigh in. Here’s what Bill Ackman and Richard Branson had to say.
Money actually can buy happiness
Despite the old expression stating otherwise, it turns out that money makes people happier — with a new study revealing that extremely high net worth individuals are “substantially and statistically significantly happier” than even those with incomes in excess of $500,000 a year.
The analysis — conducted by senior Wharton fellow Matt Killingsworth disputed not only the traditional belief that money isn’t directly correlated with happiness, but also a commonly-cited statistic that happiness plateaus at a certain income threshold.
“The difference between wealthy and middle-income participants was nearly three times larger than the difference between the middle- and low-income participants, contrary to the idea that middle-income people are close to the peak of the money-happiness curve,” Killingsworth wrote.
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Send questions, comments, and money to buy happiness to talk@qz.com. This edition of The Memo was written by Rocio Fabbro, Madeline Fitzgerald, and Morgan Haefner.