Business

Only 27% of affluent investors expecting an inheritance plan to keep the wealth advisor who managed those riches, per a new survey. For those who have already received their inheritance, the percentage drops to 20%.
Moreover, only a quarter of these benefactors want their kids or widows to keep their advisors around, according to Cerulli Associates research.
The greatest threat to advisors isn’t self-directed investing and digital products, but failing to build strong relationships with their clients’ families, Cerulli’s John McKenna told CNBC.

Drazen_ | E+ | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Over the next 25 years, more than $120 trillion in wealth will be passed down to inheritors, according to Cerulli Associates.

Only 27% of these future beneficiaries — primarily widows and children — plan to keep their benefactor’s wealth advisor, per Cerulli’s survey of investors with at least $250,000 in financial assets. The share drops to 20% for those who have already inherited their riches, according to the report released in September.
However, most heirs aren’t firing their benefactors’ wealth advisors in favor of self-directed investing and digital products. When asked why they chose another route, half of those surveyed said they already had their own advisor. The second-most popular reason, at 28%, was not having a relationship with their benefactors’ advisor. Only 14% said they didn’t want to work with a financial advisor at all, and 10% said the advisor didn’t meet their specific investment needs. Respondents to the survey could pick multiple reasons.
“Keep in mind, if the parents die in their 70s or 80s, the inheritor is between 40 and 60,” said John McKenna, research analyst at Cerulli. “In most of these cases, they have matured into wealth management clients. They have relationships, and they’re just going to be adding incrementally to their existing relationships rather than starting a new one with a legacy advisor.”

For their part, benefactors who are planning to pass their wealth down are largely ambivalent about whether their heirs use the same advisors despite saying they are largely satisfied with their service, Cerulli found. While just over a quarter of those surveyed said they wished their inheritors would keep their advisor, more than half said they were unsure or that it was up to their beneficiaries. Seven percent said they did not want their heirs to use their advisor, with the most popular reason being that the parties didn’t already have a relationship.
The crux of the problem, according to Scott Smith, senior director of advice relationships at Cerulli, is that clients are often reluctant to discuss their estate plans with their families. Even among investors with more than $5 million in financial assets, 20% said they intended for heirs to learn about their wealth after their death. The actual number of procrastinators is likely higher, as 34% of high-net-worth heirs said they were told these details after their benefactor died.

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“Benefactors believe that they will talk to their next generation about this stuff before they die,” said Smith. “But when we ask the next generation, these conversations didn’t happen.”
As a result, advisors may have few opportunities to talk to their client’s children and explain what they can offer, Smith said. It’s up to the advisor to encourage clients to stop putting off uncomfortable discussions, he said.
“Reinforce it with the primary contact that it’s important for the survivor to get involved early on so they have their feet securely on the ground and they aren’t panicking as soon as it happens,” he said. “It’s not just that we’re trying to retain the assets. We’re trying to make it easier for your survivor when you pass.” More

Walmart U.S. CEO John Furner said the company is increasing its investments in U.S.-made products and suppliers as a strategic priority. 
Many businesses like Walmart are focused on keeping prices as low as possible for customers with rollbacks amid economic uncertainty.
Furner spoke at CNBC’s inaugural Invest in America Forum.

John Furner, Walmart U.S. CEO, speaks to CNBC’s Sara Eisen during the Invest in America Forum on Oct. 15, 2025.
Aaron Clamage | CNBC

Manufacturing is seeing renewed attention from corporate America, with Walmart among the major companies publicly reaffirming its commitment to domestic production. 
At CNBC’s inaugural Invest in America Forum, Walmart U.S. CEO John Furner said the company is increasing its investments in U.S.-made products and suppliers, describing it as part of a long-standing, strategic priority. 

“Investing in U.S. manufacturing and U.S. operations, sure, it’s great for business, but it’s also great for employment. It’s great for jobs. It’s great for the country, and it helps us with our supply chain being flexible and dynamic,” Furner said. 
Nearly two-thirds of the products Walmart sells are made, grown or assembled in the United States, according to Furner. Walmart is expanding on that front, including a new beef processing facility in Olathe, Kansas, which he said is expected to create over 600 jobs. 
“It’s a big investment, and having quality products that are sourced in a more sustainable way that can deliver to customers is really important,” Furner said. 
Furner also pointed to specific categories where domestic production is being revived, citing a recent partnership with USAntibiotics aimed at “bringing back products like amoxicillin so that they’re made here in the United States.”
Still, global sourcing remains essential for Walmart’s operations. 

“We source from all around the world,” Furner said. “There are things that are grown around the world that tend to do better in other climates, you know, coffee might be an example … I think there are a lot of possibilities.”
The heightened public focus on U.S. manufacturing comes amid trade policy uncertainty, with tariffs and interest rates remaining central to retailers’ equation of how much inventory to stock and what to set prices at. For his part, Furner was uncertain about the future for the levies. 
“As policies change, they’ll change. Environments will change. That happens. Commodities change,” he said. “We’ve landed in a place where we have more rollbacks going into the fall than we had at the beginning of the year, and that’s something we’re proud of.”
Despite uncertain economic headwinds, Furner said Walmart is pushing to lower prices for consumers. 
“We want to try to keep prices as low as we can, as long as we can,” he said. “We see a resilient customer that makes really smart choices for what’s right for them and their families at the time of shopping.” More

United Airlines posted higher-than-expected earnings for the third quarter but revenue that missed Wall Street’s estimates.
The carrier boosted capacity more than 7% in the third quarter while unit sales fell for both domestic and international travel.
United said it expects an adjusted-earnings forecast of $3 to $3.50 a share in the fourth quarter.

A United Airlines Boeing 737-MAX 8 aircraft departs at San Diego International Airport en route to New York on Aug. 24, 2024.
Kevin Carter | Getty Images

United Airlines on Wednesday forecast higher-than-expected earnings for the fourth quarter after a rocky start to 2025.
The carrier expects to earn between $3 and $3.50 a share for the last three months of the year, compared with analysts’ estimate of $2.86 a share.

United has been expanding its flying capacity, while its rivals have scaled back some of their growth plans after a glut of flights weighed on fares this year. The airline increased capacity 7% in the third quarter over last year. Unit passenger revenue for the three months ended Sept. 30 fell 3.3% for domestic travel and 7.1% for international. Sales from its lucrative loyalty program rose 9%.
In an interview last month, United CEO Scott Kirby last month defended the airline’s growth plan and said the carrier was winning loyal customers through its network, new technology like complimentary inflight Wi-Fi, refreshed cabins and new lounges.
“Those investments over almost a decade, combined with great service from our people, have allowed United to win and retain brand-loyal customers, leading to economic resilience even with macro economic volatility through the first three quarters of the year and significant upside as the economy and demand are improving in the fourth quarter,” Kirby said in a release on Wednesday.
Still, for the third quarter, United beat earnings expectations, although its revenue fell short of estimates.
Here is what United Airlines reported for the quarter that ended Sept. 30 compared with what Wall Street was expecting, based on estimates compiled by LSEG:

Earnings per share: $2.78 adjusted vs. $2.62 expected
Revenue: $15.23 billion vs. $15.33 billion expected

United’s third-quarter revenue was $15.23 billion, up 2.6% from $14.84 billion last year. Net income fell 1.7% to $949 million or $2.90 a share. Adjusting for one-time items including debt, among other things, United posted income of $909 million or $2.78 a share.
The carrier is vying with Delta Air Lines to win over more affluent travelers who shell out more for seats, and it has expanded its global network with far-flung destinations like Greenland and Mongolia. United said in the third quarter, its premium-cabin revenue, which includes first class and other, roomier seats, rose 6%. United’s sales from no-frills basic economy 4% year-over-year.
In the spring and early summer, United and other carriers trimmed their earnings forecasts they made at the start of the year, after passenger demand dipped amid on-again-off-again tariffs, and an oversupply of flights weighed on airfare. More

Kendra Scott is the latest company to jump on the Western wear trend with the launch of a new boot collection.
The expansion through its Yellow Rose by Kendra Scott brand marks the first step in the company’s vision toward building a full wardrobe beyond just jewelry.
Kendra Scott joins a growing number of companies leaning into Western style, denim and the cowgirl aesthetic.

The Yellow Rose by Kendra Scott, the flagship store in Austin, TX.
Courtesy: Douglas Friedman

Kendra Scott, the company best known for its jewelry and single-pendant necklaces, is becoming the latest retailer to join the Western wear trend.
The company on Wednesday announced its debut boots collection in an expansion outside of the accessories market. The brand will offer three styles, available in men’s and women’s, as part of the Yellow Rose by Kendra Scott line focused on Western style.

“A lot of folks don’t know, but in the other half of my life, I take my heels off in the boardroom, and I throw my boots on and head to my ranch,” founder Kendra Scott told CNBC.
Scott, who lives in Texas, said she grew up incorporating Western wear from denim to cowboy boots into her everyday style, in what she calls a “beautiful, timeless, classic look.” Slowly, Scott said she saw the trend take hold across the globe.
“I’m sitting here going, well, this is my life everyday. This is authentically who I am and what I do,” Scott said. “I also noticed that there were a lot of Western brands out there that put cowboy first, and then they later think about the girl … so I was really excited to create a brand that put cowgirl front and center, but make it more modern.”
Kendra Scott’s expansion into Western wear rides a larger wave of companies leaning into the style. The fast-growing market for cowboy boots is projected to reach $538.6 million by 2035, according to Future Market Insights.
Other companies are taking notice. Retailers like Gap and Levi’s are marketing and innovating more denim products amid what’s become a “jeans war.” Wrangler is an exclusively Western wear brand that has leveraged the trend, and parts of American pop culture like the hit TV show “Yellowstone” and celebrities like Beyoncé are embracing the cowgirl aesthetic.

Of course, more Western wear options for consumers means tougher competition for Kendra Scott as it enters the space.

Branching out

Scott set out to create Yellow Rose in 2023. The in-house brand eventually became separate brick-and-mortar stores that incorporate Western style into its jewelry designs. Scott said the company quickly saw customer excitement about the unique style, but it felt like the tip of the iceberg of the brand’s potential.
Over the course of two years, the company tested modern Western apparel that was specifically designed for women, Scott said. The boots, she said, tie in the custom shapes that the jewelry brand is known for and include stitching and embroidery that give them a more “modern twist.”
Scott said the collection is a “labor of love” with a specially shaped toe, a unique combination of leather and suede, multiple color choices and options for both men and women.

Yellow Rose by Kendra Scott’s debut boots collection
Source: Kendra Scott

And the debut boot collection is just the first step toward building out a larger wardrobe, Scott said.
“We’ve been at it for almost 24 years and really put our stake in the ground as this premier jewelry designing brand,” Scott said. “We’ve built trust and connection with our customer over two decades now, and that allows a brand like mine to be able to now think about [more].”
Yellow Rose, named after Scott’s ranch and the Texas flower, is opening its fourth location – and the first outside of Texas – in the fourth quarter of 2025 in Nashville, Tennessee.
The boots launch comes after the company branched out into eyewear at the beginning of this year, entering into a licensing agreement with Marchon Eyewear.
Scott said the step into Western apparel is a significant next chapter for the brand.
“It’s exciting because I think we’re at a really amazing place at Kendra Scott where this next 20 years is really going to be something that is kind of like literally, ‘hold on to your hat,’ because we’re on this launching pad that we’ve really been able to build that trust,” Scott said. “When we launch a new category, we make sure that we’re filling a void in the market and that we’re doing it with our own unique fingerprint.” More

The majority of U.S. consumers, 57%, said they expect the economy to weaken in the year ahead, Deloitte found, the most negative outlook since the consulting firm began tracking sentiment in 1997.
On average, U.S. consumers plan to spend 10% less this holiday season as they seek out deals and anticipate higher prices.
The pullback is sharper among members of Gen Z, who said they plan to spend 34% less than the year-ago holiday season.

Gold prices edged lower on Wednesday as caution prevailed ahead of the U.S. consumer price inflation report that could provide more clarity on the Federal Reserve’s interest rate trajectory.
David Paul Morris | Bloomberg | Getty Images

As the peak holiday shopping season approaches, most U.S. consumers have a downbeat outlook on the economy, according to an annual Deloitte survey published Wednesday.
Most consumers surveyed — 57% — said they expect the economy to weaken in the year ahead, the consulting firm found in a poll of roughly 4,000 respondents. That compares with 30% who expected a weaker economy ahead of the year-ago holiday season and 54% in 2008, one of the years of the Great Recession.

It marks the most negative economic outlook since Deloitte began tracking that in 1997.
Seventy-seven percent of people surveyed said they expect higher prices on holiday items, up from 69% last year, according to Deloitte. It’s the first holiday season since President Donald Trump’s latest wave of tariff hikes on many imports.
“We’ve been talking about the resilient consumer for a while now, that despite all these pressures, the U.S. consumer continues to spend and we keep seeing growth and spending for retail,” said Brian McCarthy, retail strategy leader for Deloitte. “This outlook is starting to suggest that we’re getting towards the end of that resilience.”
Consumers’ pessimistic mindset has factored into their spending plans during the holiday season. They plan to spend an average of $1,595, 10% less than the $1,778 they planned to spend in the year-ago period, as they brace for higher prices, according to the Deloitte survey.
The lower anticipated spending cuts across all household income groups and nearly all generations, Deloitte found. Yet it was especially significant among younger shoppers.

Gen Z consumers, which in the survey were between ages 18 and 28, said they plan to spend an average of 34% less this holiday season than a year ago. Millennials, respondents between age 29 and 44 in the poll, said they expect to spend an average of 13% less this holiday season.
That compares with Gen X, which plans to spend an average of 3% more, and baby boomers, who expect to spend an average of 6% less.
For Gen Z shoppers, the tighter holiday budget likely comes from feeling more uncertain and unstable early in their careers, McCarthy said.
“They’re thinking about income and the job market and the concerns about the economy is going to throw a lot more pressure on them because they haven’t yet had time to sort of build up their savings or plan for less rosy economic environments,” he said.
Mike Daher, U.S. consumer industry leader for Deloitte, said the age group is also “exposed to a lot of inflationary pressures around housing costs,” along with higher prices for everyday items like groceries.
For retailers and brands, the findings add a note of caution to the most crucial sales period of the year. Other holiday forecasts have also found households expect to spend less, while still reflecting consumers’ appetite for decorating and giving gifts during the festive season.
Holiday spending across stores and online is expected to rise 4% year over year, according to consulting firm Bain & Co., a drop from the 10-year average of 5.2% growth. A separate Adobe Analytics report found online holiday spending in the U.S. is expected to grow 5.3% year over year, but that would be slower than the year-ago increase of 8.7% year over year.
Like Deloitte’s poll, consulting firm PwC’s survey indicated a holiday pullback among Gen Z consumers, who said they planned to spend 23% less than during the year-ago period. Overall, consumers said they expect to spend about 5% less – or an average total of $1,552 – on holiday gifts, travel and entertainment compared with the year-ago season, according to the PwC survey.
The National Retail Federation, the major industry trade group, plans to share its holiday forecast in early November.
Though holiday outlooks have varied, one of the dominant themes of this holiday season will be value-seeking, Deloitte’s McCarthy said. Even in the past several months, the firm has found a notable uptick in the number of U.S. consumers who have reported seeking deals. Across income groups, Deloitte’s survey indicated that 7 in 10 respondents are engaging in three or more deal-seeking behaviors, such as purchasing store brands or alternative ingredients, cooking more meals at home and buying used cars.
As consumers watch their budgets, they told Deloitte they will cut back on holiday-related extras. On average, consumers said they plan to spend $397 on nongift holiday expenses, such as hosting, clothing and decor, a 22% drop from $507 a year ago.
For gifts, however, the cut wasn’t as deep. On average, survey respondents said they plan to buy eight gifts compared with nine in the year-ago period and spend 6% less on average, a drop to $505 compared with $536 in the prior-year holiday season. More

The Spanish-language audience is growing significantly and proving to be a valuable audience for advertisers amid cord-cutting, recent data shows.
A Nielsen report found that Hispanic consumers are leading the nation in streaming consumption.
Spanish-language advertising has also seen a recent jump, outpacing its English counterpart, according to experts.

Chris Ryan | Ojo Images | Getty Images

The Spanish-language TV audience is growing, and advertisers are taking notice.
Over the past few years, the Hispanic population in America has seen significant growth in TV viewership, according to experts, becoming one of the most valuable demographics for media companies and advertisers. And as these consumers diversify how they’re consuming shows and other content, there’s been an increase in specialized advertising targeting them, with top networks like Telemundo and Univision drawing more attention and ad dollars.

Hispanic consumers currently make up roughly 20% of the U.S. population and wield more than $4.1 trillion in purchasing power, according to Nielsen. The Hispanic population accounted for roughly 70% of the overall growth of the U.S. between 2022 and 2023, U.S. Census Bureau data shows.
That growing population is “leading and defining” modern media consumption, according to Nielsen’s Senior Vice President of Inclusive Insights Stacie de Armas.
“Hispanics are an audience that is moving beyond or advancing outside of the linear TV model,” de Armas told CNBC. “But this migration is not about leaving TV or TV content — it’s about where it’s distributed and where they’re consuming it.”
Nielsen’s report found that Hispanic consumers are leading in streaming consumption, which makes up nearly 56% of their total TV time, compared with just 46% for the rest of the country. Though Nielsen has noted an overall decline in traditional linear TV viewership, distribution platforms like streaming are far eclipsing broadcast and cable — and Hispanic consumers are at that forefront, de Armas said.
Because the population trends younger, she said, Latino audiences are often consuming content on the go while retaining strong loyalty to the brands and networks that offer their favorite content.

“Hispanic TV audiences overall, and especially Spanish-language dominant audiences, have a strong connection still to broadcast television, and yet, at the same time, a really strong connection to streaming content overall,” de Armas said.
The report found that Hispanic audiences spend more time with YouTube, Netflix and Disney than the rest of the population.
According to new data from iSpot, the top Spanish-language networks in the third quarter were Univision, which saw a 10.2% year-over-year increase in household ad impressions, and Telemundo, which saw a 7.6% year-over-year increase in impressions.
In a Monday report published with McKinsey & Company, Telemundo reported that Latino consumer power far outpaces the average and that the population is 14% more engaged across digital media and over indexes on streaming.
And when it comes to spending on sports, which remain big drivers for media companies and advertisers, Latino fans spend 50% more than non-Latinos when adjusted for income.
“Latinos are essential to the future of sports fandom in America — on the field, in the stands, and across every screen,” said Mónica Gil, Telemundo’s chief administrative and marketing officer. “As the McKinsey report confirms, Latinos are driving one-third of the industry’s growth — spending more, streaming more, and engaging more deeply than ever before.”
The NFL, the most valuable and profitable sports league in the U.S., has also been chasing Spanish-speaking viewers, part of a broader streamer push into sports and capitalizing on Hispanic audiences. The league expanded on those efforts when it announced late last month that Puerto Rican superstar Bad Bunny would headline next year’s Super Bowl halftime show.
According to the Latino Donor Collaborative, Bad Bunny has been the most-streamed artist globally for the past three years, with the potential to deliver a massive streaming spike for the Super Bowl this year.
Brands are taking notice of the growth, too. On Wednesday, ad-supported streaming platform Fawesome announced that it is expanding its Spanish-language content partnerships to mirror the demand it’s seeing from the population.
“This initiative marks a major milestone in elevating content offerings for one of the fastest-growing streaming demographics we’ve seen across our platforms,” said David Di Lorenzo, senior vice president of content acquisitions and partnerships at Fawesome’s parent company Future Today.

Expanding advertising reach

As the population grows and interacts with various forms of media, advertisers are leaning in.
According to iSpot, Spanish-language programming is now 4.7% of TV advertising reach, up from 4.4% in the third quarter last year, led by growth from Univision. Univision said its streaming platform, ViX, has seen double-digit growth year-over-year and has surpassed a 10 million global subscriber count. But the network is currently in a contract dispute with YouTube TV, which dropped the Spanish-language network earlier this month.
A report from ad data firm EDO found similar growth, noting Spanish-language TV delivered 30% higher ad engagement than its English counterpart across more than 1 million ad airings and $2 billion in spending.
That growth encompassed across-the-board genres, ranging from entertainment to news to live sports.
“Our data shows just how powerful Spanish-language TV is at driving engagement and consideration, helping brands grow with this critical audience,” EDO CEO Kevin Krim said in a statement.
Growing with the audience will prove crucial, according to experts. EDO’s report noted the strength of some culturally resonant campaigns, like Walmart’s back-to-school ads featuring Stephanie Beatriz, which outperformed department store primetime averages by 96%.
Nielsen’s de Armas said Hispanic audiences are also leaning into content creation and creating environments where they don’t see themselves represented.
“Latinos aren’t seeing themselves in all these spaces, they aren’t hearing about the conversations they want to hear about, and so they’re creating content to reflect a lot of that,” de Armas said. “It’s a bit of a white space, actually, which is a huge opportunity for brands that are looking to have a dialogue with Hispanic consumers around their products or their services.”
But the growth in advertising and media consumption for Hispanic consumers is not new, either, de Armas said. While the numbers are showing recent record highs, she said the population has been at the forefront of transforming the broader environment for far longer.
“We need to be looking to this audience through a lens of not just that these are the trendsetters, but this is where, consistently, this community has been ahead in digital adoption and in new ways of content consumption,” de Armas said.
That sentiment was echoed by Christopher Chávez, the director of the Center for Latina/o and Latin American Studies and a professor of advertising at the University of Oregon.
Chávez said it feels like this market is “always being discovered” with similar conversations throughout the last few decades.
“It seems that whenever there’s one of those big demographic moments in terms of the census, then people start to pay attention to the buying power aspect of it,” he said. “But I think a lot of advertisers are interested in that market.”
Still, he said he’s surprised that the population’s lack of representation in mainstream media and politics doesn’t mirror its skyrocketing growth.
Compounded with political uncertainty around President Donald Trump’s immigration policies and recent raids by U.S. Immigration and Customs Enforcement, Chávez said the “strong antipathy” toward Latinos in the political environment stands in stark contrast to their economic growth.
“At its best, advertising is a distorted picture of reality, but there is some congruency where the world that you look at in advertising has some reflection of what it looks like outside,” Chávez said. “I think we’re getting to that moment, and we probably always have, but particularly with Latinos, where the world in advertising is completely incongruent with the world as it exists — the lived experiences of many Latinos just isn’t reflected in advertising.” More

Alexis Ohanian, through his firm Seven Seven Six, is leading the ownership group for LOVB Los Angeles Volleyball.
The investment expands his portfolio of stakes in women’s sports.
Ohanian’s investment in volleyball comes as the sport has seen upticks in participation and viewership.

LONDON, ENGLAND – MAY 18: Minority shareholder of Chelsea, Alexis Ohanian during The Adobe Women’s FA Cup Final match between Chelsea and Manchester United at Wembley Stadium on May 18, 2025 in London, England (Photo by Eddie Keogh – The FA/The FA via Getty Images)
Eddie Keogh – The Fa | The Fa Collection | Getty Images

Alexis Ohanian is expanding his investment portfolio in women’s sports with a new stake in professional women’s volleyball.
League One Volleyball (LOVB) announced on Wednesday that Ohanian’s investment firm, Seven Seven Six, will lead the ownership group of a new professional team, LOVB Los Angeles Volleyball. The investment comes as volleyball has seen rapid growth across all levels of play.

Financial terms of the deal were not disclosed.
“We’re excited to make LOVB the third jewel in Seven Seven Six’s LA sports family,” Ohanian said in a statement. “Volleyball is such a natural addition for Southern California, which has already proven how warmly it embraces new pro sports teams.”
Ohanian is also an investor in two other California teams: the NWSL’s Angel City FC and TGL’s LA Golf Club.
LOVB was founded in 2020 and features both youth and professional volleyball. The league has secured media rights deals with ESPN and Comcast spinoff Versant, as well as as high-profile sponsors such as Skims.
LOVB has raised more than $160 million as of November from investors that include Gold medal skier Lindsey Vonn, former WNBA champion Candace Parker and Kevin Durant-founded Boardroom Sports Holdings.

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Ohanian, a Reddit co-founder and the husband of tennis legend Serena Williams, has become one of the top investors in women’s sports in recent years.
His quickly growing sports portfolio also includes a minority stake in Chelsea FC women’s soccer as well as Athlos, the women’s track and field startup he founded in 2024. He’s also a major donor of the women’s basketball program at his alma mater, the University of Virginia. Ohanian’s wife, Williams, is also an investor in the WNBA’s Toronto Tempo, which will begin play in 2026, and 3-on-3 women’s basketball league Unrivaled.

LOVB Houston outside hitter Sara Loda (17) and LOVB Houston middle blocker Amber Igiede (3) leap for a block attempt on a spike from LOVB Austin opposite hitter Madisen Skinner (16) during the League One Volleyball match between LOVB Austin and LOVB Houston February 19,, 2025, at H-E-B Center in Cedar Park, Texas.
Icon Sportswire | Icon Sportswire | Getty Images

Ohanian’s investment in volleyball comes as the sport has seen upticks in participation and viewership.
At the high school level, more than 479,000 girls participated in volleyball during the 2023-24 season, marking an all-time high, according to the National Federation of State High School Associations.
ESPN has reported record viewership for certain women’s volleyball games.
During LOVB’s inaugural season, the league sold out multiple matches and merchandise sales exceeded $1 million, the league said.
Ohanian told CNBC in August that he believes women’s sports is a tremendous business opportunity.
“We are just starting to see what happens when these leagues and these teams and these athletes are getting the investment of resources, of exposure, and dollars,” Ohanian said. More

Stellantis plans to invest $13 billion in U.S. auto manufacturing operations over the next four years.
The trans-Atlantic automaker said the investments will add more than 5,000 jobs to its domestic workforce and involve new products at plants in Michigan, Illinois, Indiana and Ohio through 2029.
It’s not immediately clear how many of the investments and jobs are new or have been previously announced.

A new Jeep Wrangler 4-Door Sahara 4×4 vehicle displayed for sale at a Stellantis NV dealership in Miami, Florida, US, on Saturday, April 5, 2025.
Eva Marie Uzcategui | Bloomberg | Getty Images

DETROIT — Stellantis, the parent company of Chrysler, Jeep and other auto brands, plans to invest $13 billion in U.S. manufacturing operations over the next four years, as the company executes a domestic turnaround under CEO Antonio Filosa.
The trans-Atlantic automaker on Tuesday said the investments will add more than 5,000 jobs to its domestic workforce and increase domestic production by 50%. The plans include bringing new vehicles to plants in Michigan, Illinois, Indiana and Ohio through 2029.

U.S.-listed shares of Stellantis rose more than 5% in after-hours trading Tuesday. The company’s stock is off 24% this year.
The announcement comes amid President Donald Trump’s efforts to create more manufacturing jobs in the U.S. through the use of aggressive tariffs, especially for the automotive industry. The company said the plans expand those Stellantis Chair John Elkann detailed to Trump in January.
“Since day one, me and the team set out a clear priority that was to grow in the largest market that we operate, which is the U.S.,” Filosa, who led the company’s North American operations before starting as CEO on June 23, told CNBC on Tuesday. “We know what we need to do to grow this market.”

Incoming Stellantis CEO Antonio Filosa, head of the company’s Americas operations, greets a Windsor Assembly Plant employee during an event celebrating Chrysler’s 100th anniversary on June 6, 2025.
Stellantis

The company’s U.S. sales peaked in 2018, when it was known as Fiat Chrysler, at more than 2.2 million vehicles. Sales last year were down 42% since then as the company and its former CEO Carlos Tavares, who was ousted late last year, focused on profits over volumes.
Stellantis’ new vehicles under the investments include a midsize truck for a plant in Toledo, Ohio; two new Jeep vehicles for a shuttered facility in Belvidere, Illinois; and a next-generation version of the Dodge Durango SUV and “an all-new range-extended EV and internal combustion engine large SUV” at plants in Michigan.

Other investments include research and development and supplier costs to execute the company’s new product strategy, as well as additional investments in the company’s U.S. powertrain hub in Kokomo, Indiana.
Filosa said the investment decisions were a result of discussions with the company’s new leadership team as well as stakeholders such as the company’s franchised dealer network. He downplayed tariffs as a main driver for the decisions, saying automakers need to make long-term plans.
It’s not immediately clear how many of the investments and jobs are new or how many have been previously announced as part of the company’s 2023 contract with the United Auto Workers union that included $18.9 billion in new investments by April 2028.
But there are some differences. For example, a midsize truck was previously planned for Stellantis’ Belvidere Assembly plant in Illinois through a $1.5 billion investment. That vehicle, or a different midsize truck, is now expected to be added to the company’s plant in Toledo through a $400 million investment.
The investments cover most of the company’s main U.S. manufacturing plants. Stellantis’ U.S. footprint includes 34 manufacturing facilities, parts distribution centers and research and development locations across 14 states. The operations employ more than 48,000 people, according to the company. More