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Donald Trump has formally withdrawn his $10 billion lawsuit against the Internal Revenue Service and the Department of Justice announced a $1.77 billion Anti‑Weaponisation Fund that would compensate political allies who say they were subjected to "weaponisation" and "lawfare".Withdrawal of the $10bn IRS Lawsuit and Creation of the Anti‑Weaponisation FundFiled in a Florida federal court on May 18, 2026; terms of any settlement were not disclosed.The DOJ’s press release frames the fund as a systematic process to hear and redress claims of weaponisation.The lawsuit originated from former IRS contractor Charles Littlejohn's 2019‑2020 leak of Trump’s tax returns.Littlejohn pleaded guilty to improper disclosures and received a five‑year prison sentence in 2023.Financial Scope: $1.77bn Fund and $10bn Claim FiguresOriginal claim: $10 billion damages against the IRS.Proposed compensation pool: $1.77 billion (often rounded to $1.8 billion in commentary).Potential beneficiaries have not been publicly identified.Political Ramifications and Legal ControversyRep. Jamie Raskin (D‑MD) called the fund "unconstitutional" and likened it to a pardon.California Governor Gavin Newsom and Rep. Pramila Jayapal condemned the use of taxpayer money for allies.Watchdog group Citizens for Responsibility and Ethics (CREW) announced an investigation into fund allocation.The filing raises questions about whether a president can sue his own government and whether the case can be dismissed for lack of an adversarial party.Future Outlook: Legal Challenges and Potential Use of the FundU.S. District Judge Kathleen Williams scheduled a hearing for May 27, 2026 to decide if the suit should be dismissed.If dismissed, the fund could be implemented without further judicial oversight, pending DOJ guidelines.Potential constitutional challenges may focus on the Domestic Emoluments Clause and separation of powers.Continued scrutiny from Congress, media, and ethics watchdogs is expected as details of fund distribution emerge.

The LeadA US federal court jury has unanimously ruled against Elon Musk in his lawsuit against OpenAI, finding the artificial intelligence company not liable for allegedly straying from its original mission to benefit humanity. The verdict, delivered in Oakland, California, concluded that Musk brought his case too late, with the jury deliberating less than two hours before reaching their decision.The Event DetailsThe lawsuit, which had been widely viewed as a critical moment for the future of OpenAI and artificial intelligence generally, centered on Musk's claim that the company had deviated from its founding principles. Musk, who was an early investor and board member of OpenAI, alleged that the company's shift toward a more profit-oriented model betrayed its original commitment to developing AI for the benefit of all humanity rather than for the benefit of its largest investor, Microsoft.The trial proceedings included testimony from both Musk and OpenAI executives, with each side presenting contrasting visions for the future of artificial intelligence development and governance.The Court DecisionThe jury's unanimous verdict focused on the timing of Musk's lawsuit, determining that he had waited too long to bring the case forward. US District Judge Yvonne Gonzalez Rogers, who presided over the case, indicated there was "a substantial amount of evidence to support the jury's finding," suggesting she was prepared to dismiss the case on the spot even before the verdict.The relatively brief deliberation period—less than two hours—indicated the jury found the facts of the case straightforward, particularly regarding the statute of limitations issue.The Impact AnalysisThis verdict provides significant legal protection for OpenAI, allowing the company to continue its current trajectory without the threat of this particular lawsuit. The decision reinforces the importance of timely legal action in business disputes and sets a precedent for how courts might handle similar cases involving the evolution of tech companies' missions over time.For the artificial intelligence industry, the outcome may influence how companies structure their governance and mission statements, as well as how founders and early investors navigate relationships as companies evolve and attract new investment.The Future OutlookFollowing the verdict, Musk's lawyer indicated he reserved the right to appeal, though legal experts suggest such an appeal faces significant hurdles given the jury's clear finding on the statute of limitations issue. The judge's comments during the trial suggest she would likely uphold the verdict on appeal.For OpenAI, this legal resolution removes a significant distraction as the company continues to develop and deploy increasingly powerful AI systems. The case's outcome may also influence how other tech companies approach similar governance questions and how they document their evolving missions as they grow and attract investment from various sources.

Elon Musk and his co‑founders Sam Altman and Greg Brockman sued OpenAI and Microsoft alleging that a for‑profit affiliate siphoned a charitable AI lab. After a week of testimony, nine jurors found the claims were time‑barred, delivering a unanimous verdict on 2026-05-18.Verdict: Jurors Dismiss Musk’s Claims as Time‑BarredThe jury concluded the alleged harms occurred before the legal filing deadline.Judge Yvonne Gonzalez Rogers affirmed the verdict, noting the substantial evidence supporting the jury’s finding.Legal Timing: How the Statute of Limitations Determined the OutcomeThe case hinged on whether Musk filed his suit within the statutory period prescribed by California law.Jurors determined the filing was late, regardless of the substantive allegations.Implications for OpenAI’s Corporate Structure and Upcoming IPOWith the lawsuit dismissed, a potential forced restructuring of OpenAI is off the table.The decision clears a legal obstacle ahead of OpenAI’s reported initial public offering.What’s Next for Musk and the OpenAI CohortMusk may consider alternative legal avenues, though the statute‑of‑limitations issue remains a hurdle.OpenAI and its investors can now focus on growth and the IPO without the looming threat of a court‑ordered reorganization.

The Lead Dan Asma's superbly unsettling debut feature could well be California’s answer to The Blair Witch Project, as it follows a retired professor protagonist heading out into the Cuyamaca mountains and into the bowels of Mount Shasta on the trail of a lost sect. The Event Details Our intrepid academic Devin (Asma) has bitten off more than he can chew, judging by the riverbed of bloodshot veins disfiguring his face and failing mental faculties that have left him unable to drive his car out of the wilderness. Still able to access his past recordings, he jogs his own memories about what led him out there in the first place: ex-wife Kate (Nicole Jones) dropping off old camcorder excerpts of college hangouts with pal Charlie (Keaton Asma), who recently killed himself. The Data Analysis The film features a mix of found-footage, vlogs, Zoom calls, and Facetime, creating a sharp narrative line and nagging suspense. The movie's use of archival multimedia creates a sense of disintegration and malignancy. The Impact Analysis Asma bakes in a palpable sense of disintegration and malignancy into the very fabric of the film; our technological compulsion to constantly record, seek meaning and rewind back towards our origins feels like the real corrupting force here. The Prediction The film 'Tribe' is available on digital platforms from 25 May, and is expected to resonate with fans of unsettling and thought-provoking cinema.

The Exceptional PerformanceEddie Nketia, an Australian sprinter who recently switched allegiance from New Zealand to Australia, achieved a remarkable 100m time of 9.74 seconds at the Big Ten Track and Field Championships in Nebraska. However, this impressive feat won't be recognized as a record due to a howling tailwind.The Event DetailsNketia accomplished the 100m/200m double for the University of Southern California. His performance in the 200m event was also notable, with a time of 20.03 seconds, recorded with a tailwind of 7.5m/s. This performance indicates his potential to be part of a strong Australian 4x100m relay team for future international competitions.The Data Analysis100m time: 9.74 seconds (with tailwind)200m time: 20.03 seconds (with a tailwind of 7.5m/s)The Impact AnalysisNketia's achievements suggest a bright future in track and field. His coach, Brenton Emanuel, believes Nketia has the potential to be one of the best sprinters, with a long career ahead of him. The changes made to his diet and physique are seen as key factors in his improving performance.The PredictionLooking ahead, Nketia aims to secure a legal personal best and compete at the highest level, including potentially representing Australia in international competitions such as the world championships and the Olympics. His progress and dedication indicate that he could challenge the world's best sprinters in the near future.

The Billionaire Class Trauer: How Wealthy Democrats Are Embracing PopulismTom Steyer has built his campaign for governor of California around affordability – and taxing the uber-wealthy. It is perhaps an unusual message for a candidate with an estimated net worth of $2.4bn. But the hedge fund founder-turned climate activist and liberal mega-donor is pitching himself as a different kind of billionaire: one who wants people like him to pay far more in taxes.The Billionaire Populist StrategyAs early voting ballots trickle in for the 2 June primary, Steyer, a leading candidate in the unsettled contest, is racing to convince Californians that his elect-the-rich-guy-to-eat-the-rich candidacy isn't a contradiction. "People are very skeptical of billionaires," Steyer, wearing a beige baseball cap with the words "class traitor" embroidered on it, told a small group of reporters at a campaign event in East LA on Wednesday. "I'm skeptical of billionaires because we've seen so many billionaires being selfish and arrogant."The Rise of Anti-Billionaire SentimentSteyer's campaign arrives at a particularly combustible political moment in the US, shaped by a surge in anti-elite populism, widening income inequality and growing suspicion of billionaire power across both parties. A survey conducted last year by the Harris Poll found that the share of Americans who said billionaires threaten American democracy rose to 53%, up 7 points from 2024. At the same time, nearly eight in 10 respondents said they were more likely to support a billionaire who "challenges unjust systems."California's Affordability Crisis and Political ResponseAnti-rich sentiment is especially pronounced in the Golden State, which boasts the world's fourth largest economy and more billionaires than any other US state. Yet California faces a deep affordability crisis, leaving many voters searching for a governor who will do more than take on the billionaire in the White House. They want someone who will "upend the system," said Lorena Gonzalez, president of the powerful California Federation of Labor Unions.The Democrat's Billionaire DilemmaA decade after Trump, a billionaire real estate mogul, proved he could harness working-class discontent, Democrats see a chance to rebuild their frayed coalition and win back the voters squeezed by the rising cost of rent, utilities and groceries. Ahead of the November midterm elections, Democrats are hammering Trump over his coziness with Silicon Valley billionaires and his preoccupation with building a ballroom at the White House, evidence, they say, that the president's party has abandoned working class voters in favor of a new gilded-age oligarchy.Wealthy Progressives Across AmericaSteyer is not the only Democrat testing the party's appetite for a populist from the 1%. In Illinois, Governor JB Pritzker, a scion of the Pritzker family that founded the Hyatt hotel chain, is running for a third term – and widely believed to be considering a presidential bid in 2028. Other wealthy progressives include Saikat Chakrabarti, a centimillionaire tech entrepreneur and former chief of staff to Ocasio-Cortez who is self-funding his anti-establishment bid to succeed retiring former House speaker Nancy Pelosi in San Francisco.A Historical Perspective on Wealthy DemocratsWealthy Democrats are hardly a new phenomenon. From Franklin Roosevelt's patrician roots to John F Kennedy's vast family fortune, the party has a history of elevating affluent political leaders who framed their privilege as a responsibility to serve the public. As Cas Mudde, a leading scholar of populism, noted by email, "socialists have long been led by 'class traitors' (eg Friedrich Engels) or have supported rich politicians and intellectuals (for example Bernie Sanders and Noam Chomsky)."The Future of Populist PoliticsAmid a volatile job market and escalating inflation, voters want leaders who understand their economic struggles. In California, with the nation's highest cost of living and gas prices topping $6 per gallon amid the Iran war, that demand is particularly urgent. Perhaps then it is a sign of the times that if Steyer advances to the November general election, Californians would likely have the chance to elect a billionaire for governor and impose a first-of-its-kind wealth tax on the state's richest residents.

Rousey’s Lightning‑Fast Armbar Ends Carano’s ReturnOn May 16, 2026, former UFC champion Ronda Rousey reclaimed the spotlight by defeating veteran Gina Carano in a feather‑weight bout at the Intuit Dome, Inglewood, California. The fight lasted only 17 seconds, with Rousey securing an armbar that forced Carano to tap.Financial Stakes: Multi‑Million Paychecks for Both FightersBoth athletes were reportedly paid “several million dollars” by the streaming platform behind the event, underscoring the commercial pull of legacy female fighters. Rousey’s record improves to 13‑2‑0, marking her 10th submission win, while Carano returns with a 7‑2‑0 record after a 17‑year hiatus.Impact on Women’s MMA and the Streaming ModelThe bout demonstrates how legacy names can drive viewership for digital‑first fight promotions, potentially reshaping revenue models for women’s MMA. Rousey’s decisive victory may reinforce the narrative that elite talent remains dominant, while Carano’s high‑profile comeback, despite the loss, highlights the growing appetite for veteran storylines.Future Outlook for Rousey, Carano, and the SportRousey has stated the fight was a “one‑off” and hinted at focusing on family, suggesting this could be her final MMA appearance. Carano, meanwhile, left the cage expressing pride in her preparation and keeping the door open for future bouts. The event’s success could encourage more streaming services to invest in marquee match‑ups, further elevating women’s MMA on a global stage.

The Personal Mission Behind the InvestmentReed Jobs, son of Apple co-founder Steve Jobs, is bringing his oncology-focused venture capital fund Yosemite to the UK, seeking investment opportunities in cancer care. The 34-year-old's mission is deeply personal, stemming from witnessing his father's death from a rare form of pancreatic cancer in 2011 at age 56. "I saw my dad have cancer when I was a kid, and unfortunately that happens far too often. And that really motivated me to try to transform outcomes for other people out there," Jobs explains.Yosemite's Healthcare Investment StrategyThe San Francisco-based venture fund, named after the California national park where his parents married, manages over $1 billion in assets and has already invested in approximately 20 healthcare startups. Yosemite focuses on innovative approaches to cancer treatment, including gene therapy, cancer vaccines, radiopharmaceuticals, and artificial intelligence. Notable investments include Tune Therapeutics, Azalea Therapeutics, Chai Discovery, and Sage Care in the US, with several UK companies in their portfolio that haven't been publicly announced.Financial Backing and International PartnershipsYosemite receives investment from LifeArc, a UK not-for-profit group focused on rare diseases that was established in 2000 as part of the UK's Medical Research Council. The fund also has partnerships with Oxford and Cambridge universities, where it has provided philanthropic grants. Additional backing comes from US biotech company Amgen, Massachusetts Institute of Technology, Memorial Sloan Kettering Cancer Center in New York, and billionaire investor John Doerr, following a fundraiser earlier this year.UK's Position in Global Cancer Research"Research here is world class," Jobs states during his visit to London for a life sciences conference hosted by LifeArc. The UK's strong academic institutions and research environment make it an attractive location for healthcare investment. Yosemite's international investment strategy includes the UK, where the fund aims to connect with pharmaceutical partners and academics to advance cancer treatment possibilities.Future Vision for Cancer TreatmentJobs envisions a future where cancer shifts from being an "end-stage disease" to an illness that is diagnosed early, monitored, and treated—similar to advances made with HIV and cardiovascular disease. "Today far too many cancers are either diagnosed incidentally, because there's no good early biomarker, or only diagnosed once they are metastatic and extremely advanced," he notes. The fund is particularly focused on immunotherapy, which Jobs identifies as "one of the areas I think is going to have the most promise for patients in the next couple of decades."

The Alarming Rise of Wealth Inequality in Britain The wealth of Britain's 157 billionaires is now equivalent to more than a fifth of the country's entire GDP, according to analysis by the Equality Trust – a fivefold increase since 1990. The 'Ghost GDP' Phenomenon The charity describes the trend, based on data in this year's Sunday Times rich list, as Britain's 'ghost GDP': headline economic growth increasingly disconnected from everyday life. The Data Analysis When the Sunday Times first published its rich list in 1989, 15 billionaires held a total of £27bn – about 4p in every pound of GDP at the time. Today, the Equality Trust calculates that 157 billionaires hold just under £670bn – more than 22p in every pound. 1989: 15 billionaires held £27bn (4% of GDP) 2023: 157 billionaires hold £670bn (22% of GDP) The Impact Analysis 'Workers have endured the longest pay squeeze in living memory,' said Priya Sahni-Nicholas, co-executive director of the Equality Trust. 'But the richest 50 families now hold more wealth than the poorest 34 million of us combined.' The Prediction Gabriel Zucman, an economist at University of California, Berkeley and the Paris School of Economics, said that while in the postwar decades GDP growth numbers were broadly indicative of how income was growing for most of the population, 'today, there is a total disconnect between macroeconomic indicators and the reality of income gains for most people.'