Kevin Warsh’s contentious path to becoming the next Federal Reserve chair finally came to an end as the Senate confirmed him on Wednesday.
Warsh, a former central bank official and aide to former President George W. Bush, has been a critic of the institution for years. He told CNBC last July that he supported “regime change” at the Fed, and said President Donald Trump was “right to be frustrated” with Jerome Powell’s refusal to lower interest rates more quickly.
Warsh, whose wife is billionaire Jane Lauder, will likely be the richest person ever to hold the position.
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First Up
Nvidia’s stock rallied Wednesday, sending its market cap to $5.5 trillion for the first time—a record in the history of publicly traded companies.
In the high-profile trial between Elon Musk and OpenAI, the attorneys for CEO Sam Altman asked the jury to disregard part of his testimony Tuesday after Musk’s lawyer made “unsubstantiated allegations.”
President Donald Trump met with Chinese President Xi Jinping in Beijing on Thursday, calling Xi a “great leader,” as Xi warned Taiwan could become a flashpoint between the two countries.
Tech + Innovation
Startup NVision Quantum Technologies has developed a new imaging system for cancer cells that will enable oncologists and their patients to get faster feedback on whether a therapy is working. The company said Wednesday it raised $55 million in new funding, bringing its valuation to more than $250 million—and, per its namesake, it also has quantum computing ambitions in drug development.
Money + Politics
Transportation Secretary Sean Duffy and his department recently unveiled a reality series called The Great American Road Trip, but the initiative looks less like civic uplift and more like a rolling ethics problem, underwritten by companies in the transportation ecosystem Duffy oversees. A supposedly independent nonprofit paid for the Duffy family’s on-screen travels, though it was sponsored by Boeing, Toyota and Shell. Department of Transportation spokesperson Nathaniel Sizemore said “no taxpayer dollars were spent on Secretary Duffy’s family.”
In addition to $1.4 billion for the White House ballroom, the Trump administration expects to spend at least $162.5 million on the president’s other major projects in the D.C. area, though many are already over budget and the actual cost is likely to grow. President Trump has faced pushback this week as reports revealed the renovations to the Lincoln Memorial Reflecting Pool are at least $12 million over his initial estimated budget and seem unlikely to be completed on schedule.
Sports + Entertainment
Florida’s attorney general issued a subpoena to the NFL over its decades-old “Rooney Rule,” arguing it violates state law by promoting racial or gender diversity in hiring coaching staff. The league has been an occasional culture war target in recent years, most recently with the backlash to Bad Bunny’s Super Bowl halftime show.
DAILY COVER STORY
Legendary poultry magnate Frank Perdue grew his father’s hatchery into a $1 billion (sales) business by the time he turned over the reins to his son Jim. But in the 35 years since Jim first became chairman and CEO, it’s the third-generation leader who has supercharged the family business into America’s fourth-largest chicken producer, with $9.2 billion in 2025 revenue.
Under his control, Perdue Farms has also become the country’s largest organic soybean oil producer. Jim has also avoided the third-generation curse—it’s estimated that only 10% or less of family-owned businesses make it to the fourth—and has grown the company nearly 10 times over.
Perdue spent over 14 years between 2002 and 2016 transitioning every one of its chicken farms to being fully antibiotic-free. Larger competitors such as Tyson have recently reneged on their own promises to go antibiotic-free, blaming the cost. But Perdue says antibiotic-free farming is not actually more expensive.
It adds up to a substantial family fortune, which Forbes estimates at more than $5 billion. That includes not only the equity stake in the business (worth $4 billion) but also the value of the dividends that have been paid out since 2005. “That was to maintain family unity,” says Perdue. “My dad was so focused on the company. He wanted every penny to go back into the business.”
WHY IT MATTERS “Few large-scale meatpackers are willing to commit to the kinds of practices that Perdue Farms does—and Perdue Farms proves it’s not only possible, but it’s profitable,” says Forbes staff writer Chloe Sorvino. “Jim Perdue has grown the family firm nearly 10-fold without pursuing growth at all costs. In fact, Perdue Farms raises and sells the same amount of chickens it did 20 years ago. And their commitment to antibiotic-free cannot be understated, especially from a human health perspective.”
FACTS + COMMENTS
As community opposition to AI data centers grows, a new Gallup survey reveals people are more resistant to having one built nearby than a nuclear energy plant. Respondents expressed concern about the environmental impact of the data centers:
71%: The share of Americans who are somewhat or strongly opposed to the building of AI data centers in their area
53%: The percentage of Americans somewhat or strongly opposed to the building of a nuclear energy plant in their area
5 million gallons: How much water a large data center can consume daily, equivalent to that of a town of 10,000 to 50,000 people
STRATEGY + SUCCESS
The “______-maxxing” trend has taken the internet by storm, referring to a relentless push for self-improvement—first with “looksmaxxing,” and now including one’s career. But the pursuit of “careermaxxing” can become exhausting rather quickly because a focus on maximizing effort so rarely allows for balance. Instead, aim for sustainable growth, and know when to stop optimizing and start living.
VIDEO
QUIZ
Following reports of lackluster travel bookings, the State Department will no longer require World Cup ticketholders from certain countries to post a hefty bond to enter the U.S. What is the maximum bond requirement?
A. $5,000
B. $10,000
C. $15,000
D. $20,000
Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.