Jul 7, 2018

Top three richest people in the world are all from tech

Mark Zuckerberg. Photo: Christophe Morin/IP3/Getty Images

Facebook CEO Mark Zuckerberg surpassed Warren Buffett to become the world's third-wealthiest person, Bloomberg reports.

The big picture: This marks the first time that the top three richest people in the world — Zuckerberg, Amazon's Jeff Bezos, and Microsoft's Bill Gates — made their fortunes from technology. Zuckerberg is worth $81.6 billion, per Bloomberg. Buffett is reportedly falling in the ranks "thanks to his charitable giving."

Go deeper

Jacob Knutson

Peter Navarro defends hydroxychloroquine use in heated CNN interview

White House economic adviser Peter Navarro defended the use of anti-malarial drug hydroxychloroquine to treat coronavirus during a CNN interview Monday, highlighting "the possibility" that it has therapeutic efficacy.

Why it matters: Navarro did not deny reporting from Axios' Jonathan Swan that he got into a heated exchange in the White House Situation Room over the weekend with infectious disease expert Dr. Anthony Fauci about the drug's prospects against the illness.

Go deeper7 mins ago - Politics & Policy

Caitlin Owens

Special report: Health care workers vs. coronavirus

Photo Illustration: Sarah Grillo/Axios. Photos: Angela Weiss/AFP via Getty Images, Bruce Bennett/Getty Images, and Europa Press News/Europa Press via Getty Images

Health care workers are at an especially high risk of catching the coronavirus, because of their prolonged exposure to patients who have it. Making matters worse, the U.S. doesn't have enough of the protective equipment, like masks and gloves, that keeps them safe.

And yet these workers, with loved ones of their own, keep showing up at hospitals across the country, knowing that more Americans than they can possibly care for are depending on them.

Go deeper47 mins ago - Health

Dion Rabouin

Backed by the Fed, bond investors get bullish

Illustration: Sarah Grillo/Axios

The Fed's massive injections of liquidity have reopened much of the bond market, and after back-to-back weeks in which more than $100 billion flowed out of bond funds, investors have regained their bearings and now see opportunity.

What's happening: But after the hemorrhaging outflows relented last week, bulls may now be sticking their heads out a bit too far. Junk bond funds took in more than $7 billion for the week ended April 1, according to Refinitiv Lipper, setting a new weekly record.

Go deeper1 hour ago - Economy & Business