¶ Welcome to Wealthy AF Business Brief
Welcome back to Wealthy AF Business Brief , where we break down the latest business and economic trends that impact your investments and entrepreneurship journey . I'm your host , the lead strategist , martin Perdomo , and today we've got three major stories making headlines , so let's dive right on in .
The Social Security Administration is changing course on how it recovers overpaid benefits . Until now , the agency could withhold 100% of beneficiaries' monthly payment to recoup overpayments often caused by internal errors . This policy left many recipients , including retirees and disabled Americans , with no income .
Under the new rule , the SSA will default to withholding just 10% of monthly benefits unless a higher rate is requested . Commissioner Martin O'Malley called the change a step towards fairness and compassion .
This shift not only reflects growing political and public pressures , but also impacts financial planning for millions who rely on these payments millions who rely on these payments . The change applies immediately and beneficiaries already subject to withholdings can request the reduced rate , beginning bringing relief and a bit more stability to their financial lives .
So if you're listening to this and you know someone that's getting crushed by social security because of a mistake that they did and they're not getting their social security checks , make sure you pass this information on to them immediately and so that they can make the request so that they can start getting payments again .
This is really really good news for the American people , for those on Social Security Next up , president Donald Trump is once again making headlines , this time time not just for policy , but for remarks that are raising eyebrows .
In a recent interview , trump said he was unsure whether people in the US are entitled to due process when asked about how his proposed immigration and security measures would affect constitutional rights . It's a comment that's drawn immediate reaction , particularly from legal experts and civil rights groups .
Though it's unclear whether the comment reflects a change in policy thinking or just rhetoric , it has already reignited debate about the balance between national security and individual rights . So we'll have to see . So we'll have to see .
And actually , what he said was he actually said that these people are illegally , illegal criminals and illegal immigrants , and you had 20 . I saw the interview and you had 21 million illegal immigrants , or some are criminals . If you , if each one required a hearing , it would take 300 , and each hearing was two weeks .
It would take 340 years to get done , which , in a way , does make sense . However , there needs to be a balance for this , and I recently know of some guys were hardworking guys that recently got deported . Guys that are here doing work recently got deported for a minor traffic violation .
So this policy is are affecting good working people in our country and , at the same time , it had to be done because we have a lot of criminals that were breaking the law in our country and , unfortunately , along with it , we're going to see some good people get caught up .
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Seats are limited , so secure your spot today at wealthy afmedia for slash events and let's build your next level together . Now back to the updates . Open . Ai , the company behind chat gpt , has confirmed it will remain under control of the nonprofit board while undergoing internal restructuring .
This follows a month-long review and the brief but dramatic ousting of CEO Sam Altman in November 2023 . Despite generating $2 billion in revenue in 2023 and projecting that to double by 2025 , to double by 2025 , openai will continue operating under its capped profit model , allowing investors up to 100x returns while maintaining board oversight Crazy .
As part of this shift , openai is launching a preparedness framework framework to manage risk from increasingly advanced ai . This includes a safety advisory group , stricter evaluation protocols and a formal risk informed development policy , all aimed at deciding whether powerful new models are safe for release .
The changes underscore openAI's push to match rapid innovation with strong governance amid growing scrutiny for regulators and the public . Well , that's it for today's business brief . As always , stay sharp , stay informed to keep your business ahead of the curve .
Thank you for tuning in and we'll see you next week with more insights , updates from the world of finance and economics . Appreciate you being here . Peace out .