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_how-one-billionaire-lost-millions-and-left-underserved-scholarship-students-in-limbo.jpg "On March 21, the roughly 70 employees of the Schuler Education Foundation, based in the affluent suburb of Lake Forest, Illinois, were summoned to an emergency all-hands meeting. Over the past two-plus decades, the nonprofit founded and funded by a former president of healthcare giant Abbott Laboratories, Jack Schuler, had spent at least $150 million counseling and tutoring more than 1,800 low-income students from Chicago and Milwaukee-area high schools to help them gain admission to elite colleges; those colleges in turn covered most (if not all) of the students’ tuition and other costs.<br/><br/>The employees, who first had to certify they wouldn’t record anything, were let into a Zoom room where the nonprofit’s executive director Joanne Bertsch read from a script announcing that the foundation would shut down on May 24. Everyone would be let go except for a skeleton crew of seven college counselors left to support students through August. <br/><br/>0:00 Introduction<br/>0:15 How Our Reporters Found Out About Jack Schuler<br/>3:05 Reporting On The Schuler Foundation<br/>5:45 Losing Money In The Market<br/>8:50 The Role Of Healthcare Stocks<br/>12:23 The Impact On Students And Colleges<br/>16:05 How The Foundation Behaved As Their Investments Lost Value<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/04/16/inside-the-collapse-of-a-former-billionaires-foundation-for-low-income-students/?sh=b52a7d62f78b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
⏲ 20:9 👁 1.1M
_how-does-a-salary-sacrifice-pension-work.jpg "A salary sacrifice pension can help boost your retirement pot. We explain what it is and how it works")
⏲ 2:50 👁 135K
_wall-street39s-most-accurate-analysts39-views-on-3-industrials-stocks-with-over-3-dividend-yields.jpg "Benzinga.com readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy.<br/><br/>Here are the ratings of the most accurate analysts for three high-yielding stocks in the industrials sector.")
⏲ 1:25 👁 135K
_many-americans-don39t-know-what-a-401k-is.jpg "A new study, conducted by OnePoll and commissioned by Beyond Finance, found that 43% of respondents don’t know what a 401(k) is!")
⏲ 1:8 👁 1.6M
_biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats.jpg "The Senate voted 79-18 in favor of the bill, which is part of a larger funding package providing aid to Israel, Ukraine, and Taiwan, reported The Washington Post on Tuesday. The bill now awaits President Joe Biden‘s signature, who has said he will sign the bill into law on Wednesday.")
⏲ 1:4 👁 1.3M
_shoe-designer-christian-louboutin-is-now-a-billionaire.jpg "After four decades of keeping his well-heeled clients in his iconic red-soled heels, shoe designer Christian Louboutin is now a billionaire. The 61-year-old designer is stepping into the billionaire ranks thanks to his eponymous fashion brand. While still best-known for its towering stilettos and perilous platforms, the Louboutin brand has expanded into sneakers, bags, and beauty products, as well as lines for men and children.<br/><br/>The company was valued at $3.2 billion last year by Exor, the investment company of Italy’s Agnelli family, which bought a 24% stake in 2021 for about $650 million. Louboutin still owns 35%—which Forbes values at $1.1 billion. That stake makes up most of an estimated $1.2 billion fortune that includes other investments such as the Vermelho Hotel, a luxury resort he opened in southern Portugal last year. Representatives for Louboutin didn’t respond to requests for a comment on the valuation.<br/><br/>Read the full story on Forbes:<br/>https://www.forbes.com/sites/giacomotognini/2024/04/01/christian-louboutin-net-worth-billionaire-shoe-designer/<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
⏲ 6:47 👁 130K
_meet-one-of-britain39s-youngest-caf-owners-who-customers-often-mistake-for-staff.jpg "Meet one of Britain’s youngest business owners – who customers often mistake for staff rather than the boss.<br/><br/>Chloe Frost, 18, opened The Baking Suite - her very own café - in October 2023.<br/><br/>She initially considered starting an apprenticeship after finishing her A levels in June, but instead decided to follow her ‘dream’ – which had always been baking.<br/><br/>Now, Chloe has her own place in Bromham, Beds., and neither she, nor her customers, can quite believe it.<br/><br/>She said: “I’ve just always loved baking. After sixth form, I started making and selling celebration cakes on Instagram.<br/><br/>“So then I just thought, why not do this properly? Even though that still feels crazy.<br/><br/>“People hardly ever think it’s me that runs the place.<br/><br/>“Even today, with one of our regulars, he said, ‘Where’s the boss then?’ And I said, ‘I am the boss.’ <br/><br/>“People are always surprised but everyone is supportive when they realise.”<br/><br/>Chloe took over the site at the end of August after a previous café closed – and then spent just over a month re-decorating, re-fitting the kitchen, and making the place feel like hers.<br/><br/>She said: “I thought it was a good opportunity as there was already a small customer base. But I wanted to turn it into my own place too.”<br/><br/>The Baking Suite offers breakfast, lunch and an array of tasty sweet treats – all of which Chloe bakes from scratch by herself.<br/><br/>So far, her banana bread and rocky road have been consistent crowd pleasers – but she says classics like brownies, scones, and millionaire shortbread are always popular too.<br/><br/>Chloe currently has two staff members – chef Kimberley White, who has 18 years' experience, and barista Rosie Harrington, her brother Jonathan’s fiancée – but one day Chloe hopes to have a bigger team.<br/><br/>“I would love to open more premises at some point,” she said. “But it’s all about taking things one step at a time.”<br/><br/>Chloe says business has been going well so far – with the café already boasting plenty of regulars.<br/><br/>“We have a lot of customers who we see nearly every day,” she said. “Builders, dog-walkers, elderly people, those working from home. <br/><br/>“Of course, sometimes there’s a quiet day or two – but that’s to be expected in hospitality.”<br/><br/>Chloe says other local businesses have supported her too, with nearby Wooden Hill Coffee Company, whose coffee the café serves, offering all staff members free barista training.<br/><br/>She currently isn’t taking in a salary, but is making enough for rent, outgoings, staff salaries, and to pay back her dad – who financed the initial opening.<br/><br/>Chloe said: “I’m very lucky to have such a supportive family. My grandparents even keep a bunch of ingredients in their freezer for me.”<br/><br/>Chloe said she would encourage other young people to follow their dreams like she did – but only if they’re willing to put in the effort.<br/><br/>“I definitely would say to other young people who want their own business that they should follow their dreams and their passions,” she said.")
⏲ 1:32 👁 515K
_understanding-finances-as-a-new-couple.jpg "Whether you’re getting married or just moving in together, every couple needs to come to an understanding about how they will handle money and learn what benefits their coupledom may afford them.")
⏲ 2:5 👁 125K
_is-an-rv-retirement-lifestyle-really-cheaper-than-a-house.jpg "RV-savvy retirees talk about the downsides of spending retirement in a motorhome, travel trailer, fifth wheel or other recreational vehicle.")
⏲ 2:39 👁 1.4M
_advice-on-large-money-inheritance.jpg "First, put all major decisions on hold. A financial planner can help you come up with a plan that addresses your goals, dreams and needs.")
⏲ 2:25 👁 105K
_this-3618-5m-swiss-chalet-preserves-history-and-embraces-modern-luxury-124-real-estate-124-forbes.jpg "In the second-most populated metropolis in Switzerland, this chalet-style house dating to the early 1900s offers a quiet refuge from the commotion of city life. Within the Conches residential neighborhood on the outskirts of Geneva, the nearly 2.5-acre forested property is located just five minutes from the city center. This 1910 chalet was built in the traditional style by the Spring Frères company for the original owner, who was inspired by the Swiss National Exhibitions.<br/><br/>The home, officially recognized by the city for its national significance, underwent a renovation about a decade ago with the addition of a contemporary extension and subterranean garage. The historical section of the house, kitchen ceiling beams and staircase are preserved, while everything else is renovated and new. The four levels contain more than 7,500 square feet of living space, and feature breathtaking views of Mont Salève.<br/><br/>Read the full story:<br/>https://www.forbes.com/sites/forbes-global-properties/2024/02/15/historic-chalet-in-geneva-is-a-hushed-retreat-for-modern-living/<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
⏲ 1:34 👁 1.5M
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_how-one-billionaire-lost-millions-and-left-underserved-scholarship-students-in-limbo.webp "On March 21, the roughly 70 employees of the Schuler Education Foundation, based in the affluent suburb of Lake Forest, Illinois, were summoned to an emergency all-hands meeting. Over the past two-plus decades, the nonprofit founded and funded by a former president of healthcare giant Abbott Laboratories, Jack Schuler, had spent at least $150 million counseling and tutoring more than 1,800 low-income students from Chicago and Milwaukee-area high schools to help them gain admission to elite colleges; those colleges in turn covered most (if not all) of the students’ tuition and other costs.<br/><br/>The employees, who first had to certify they wouldn’t record anything, were let into a Zoom room where the nonprofit’s executive director Joanne Bertsch read from a script announcing that the foundation would shut down on May 24. Everyone would be let go except for a skeleton crew of seven college counselors left to support students through August. <br/><br/>0:00 Introduction<br/>0:15 How Our Reporters Found Out About Jack Schuler<br/>3:05 Reporting On The Schuler Foundation<br/>5:45 Losing Money In The Market<br/>8:50 The Role Of Healthcare Stocks<br/>12:23 The Impact On Students And Colleges<br/>16:05 How The Foundation Behaved As Their Investments Lost Value<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/04/16/inside-the-collapse-of-a-former-billionaires-foundation-for-low-income-students/?sh=b52a7d62f78b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_how-does-a-salary-sacrifice-pension-work.webp "A salary sacrifice pension can help boost your retirement pot. We explain what it is and how it works")
_wall-street39s-most-accurate-analysts39-views-on-3-industrials-stocks-with-over-3-dividend-yields.webp "Benzinga.com readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy.<br/><br/>Here are the ratings of the most accurate analysts for three high-yielding stocks in the industrials sector.")
_many-americans-don39t-know-what-a-401k-is.webp "A new study, conducted by OnePoll and commissioned by Beyond Finance, found that 43% of respondents don’t know what a 401(k) is!")
_biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats.webp "The Senate voted 79-18 in favor of the bill, which is part of a larger funding package providing aid to Israel, Ukraine, and Taiwan, reported The Washington Post on Tuesday. The bill now awaits President Joe Biden‘s signature, who has said he will sign the bill into law on Wednesday.")
_shoe-designer-christian-louboutin-is-now-a-billionaire.webp "After four decades of keeping his well-heeled clients in his iconic red-soled heels, shoe designer Christian Louboutin is now a billionaire. The 61-year-old designer is stepping into the billionaire ranks thanks to his eponymous fashion brand. While still best-known for its towering stilettos and perilous platforms, the Louboutin brand has expanded into sneakers, bags, and beauty products, as well as lines for men and children.<br/><br/>The company was valued at $3.2 billion last year by Exor, the investment company of Italy’s Agnelli family, which bought a 24% stake in 2021 for about $650 million. Louboutin still owns 35%—which Forbes values at $1.1 billion. That stake makes up most of an estimated $1.2 billion fortune that includes other investments such as the Vermelho Hotel, a luxury resort he opened in southern Portugal last year. Representatives for Louboutin didn’t respond to requests for a comment on the valuation.<br/><br/>Read the full story on Forbes:<br/>https://www.forbes.com/sites/giacomotognini/2024/04/01/christian-louboutin-net-worth-billionaire-shoe-designer/<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_meet-one-of-britain39s-youngest-caf-owners-who-customers-often-mistake-for-staff.webp "Meet one of Britain’s youngest business owners – who customers often mistake for staff rather than the boss.<br/><br/>Chloe Frost, 18, opened The Baking Suite - her very own café - in October 2023.<br/><br/>She initially considered starting an apprenticeship after finishing her A levels in June, but instead decided to follow her ‘dream’ – which had always been baking.<br/><br/>Now, Chloe has her own place in Bromham, Beds., and neither she, nor her customers, can quite believe it.<br/><br/>She said: “I’ve just always loved baking. After sixth form, I started making and selling celebration cakes on Instagram.<br/><br/>“So then I just thought, why not do this properly? Even though that still feels crazy.<br/><br/>“People hardly ever think it’s me that runs the place.<br/><br/>“Even today, with one of our regulars, he said, ‘Where’s the boss then?’ And I said, ‘I am the boss.’ <br/><br/>“People are always surprised but everyone is supportive when they realise.”<br/><br/>Chloe took over the site at the end of August after a previous café closed – and then spent just over a month re-decorating, re-fitting the kitchen, and making the place feel like hers.<br/><br/>She said: “I thought it was a good opportunity as there was already a small customer base. But I wanted to turn it into my own place too.”<br/><br/>The Baking Suite offers breakfast, lunch and an array of tasty sweet treats – all of which Chloe bakes from scratch by herself.<br/><br/>So far, her banana bread and rocky road have been consistent crowd pleasers – but she says classics like brownies, scones, and millionaire shortbread are always popular too.<br/><br/>Chloe currently has two staff members – chef Kimberley White, who has 18 years' experience, and barista Rosie Harrington, her brother Jonathan’s fiancée – but one day Chloe hopes to have a bigger team.<br/><br/>“I would love to open more premises at some point,” she said. “But it’s all about taking things one step at a time.”<br/><br/>Chloe says business has been going well so far – with the café already boasting plenty of regulars.<br/><br/>“We have a lot of customers who we see nearly every day,” she said. “Builders, dog-walkers, elderly people, those working from home. <br/><br/>“Of course, sometimes there’s a quiet day or two – but that’s to be expected in hospitality.”<br/><br/>Chloe says other local businesses have supported her too, with nearby Wooden Hill Coffee Company, whose coffee the café serves, offering all staff members free barista training.<br/><br/>She currently isn’t taking in a salary, but is making enough for rent, outgoings, staff salaries, and to pay back her dad – who financed the initial opening.<br/><br/>Chloe said: “I’m very lucky to have such a supportive family. My grandparents even keep a bunch of ingredients in their freezer for me.”<br/><br/>Chloe said she would encourage other young people to follow their dreams like she did – but only if they’re willing to put in the effort.<br/><br/>“I definitely would say to other young people who want their own business that they should follow their dreams and their passions,” she said.")
_understanding-finances-as-a-new-couple.webp "Whether you’re getting married or just moving in together, every couple needs to come to an understanding about how they will handle money and learn what benefits their coupledom may afford them.")
_is-an-rv-retirement-lifestyle-really-cheaper-than-a-house.webp "RV-savvy retirees talk about the downsides of spending retirement in a motorhome, travel trailer, fifth wheel or other recreational vehicle.")
_advice-on-large-money-inheritance.webp "First, put all major decisions on hold. A financial planner can help you come up with a plan that addresses your goals, dreams and needs.")
_this-3618-5m-swiss-chalet-preserves-history-and-embraces-modern-luxury-124-real-estate-124-forbes.webp "In the second-most populated metropolis in Switzerland, this chalet-style house dating to the early 1900s offers a quiet refuge from the commotion of city life. Within the Conches residential neighborhood on the outskirts of Geneva, the nearly 2.5-acre forested property is located just five minutes from the city center. This 1910 chalet was built in the traditional style by the Spring Frères company for the original owner, who was inspired by the Swiss National Exhibitions.<br/><br/>The home, officially recognized by the city for its national significance, underwent a renovation about a decade ago with the addition of a contemporary extension and subterranean garage. The historical section of the house, kitchen ceiling beams and staircase are preserved, while everything else is renovated and new. The four levels contain more than 7,500 square feet of living space, and feature breathtaking views of Mont Salève.<br/><br/>Read the full story:<br/>https://www.forbes.com/sites/forbes-global-properties/2024/02/15/historic-chalet-in-geneva-is-a-hushed-retreat-for-modern-living/<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
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