And welcome back to Street Tweets from The Street Sheet!

Did you know the US is now home to 23.8 million millionaires after reportedly adding 1,000 millionaires per day in 2024? This surge was fueled by an AI-powered boom in stocks, rising home prices, and a stable dollar.

The US has the most millionaires of any country, by far. But it’s actually 3rd when looking at millionaires as a % of population, behind Switzerland and 1 other country.

Take the quiz at the end to guess which country is #2.

— Brooks & Cas

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The conflict between Israel and Iran escalated last week, spooking markets.

Tensions also rose between President Trump and Jerome Powell after the Fed chair decided to leave interest rates unchanged at between 4.25% and 4.5%.

JPowell cited the mild impact of tariffs on the economy for his decision, but reiterated that rate cuts are still on the table for later this year. His main goal is to keep inflation in check without stifling economic growth.

Markets were closed Thursday for Juneteenth, and the Dow Jones ended the 4-day week down 1.3%, while the S&P 500 and NASDAQ stayed largely flat.

On Monday, an update on the number of existing homes sold will be released.

Tuesday will feature the US current account deficit, the S&P/Case Shiller Home Price Index, consumer confidence, and the Richmond Fed Manufacturing Index.

Wednesday will bring data on new home sales and an update to the 30-year fixed mortgage rate.

Thursday will be the busiest day of the week, with reports coming out for durable goods orders, last quarter’s GDP growth rate, quarterly corporate profits, pending home sales, the trade balance advance estimate, and more.

On Friday, investors will get insight into personal income, spending, and the core PCE price index.

Do you get stressed out watching your favorite NBA team? Imagine having billions of dollars riding on Luka’s 3-point percentage.

The Buss family sold the Los Angeles Lakers for $10 billion last week, bumping the Lake Show above the Warriors and Knicks in terms of valuation.

$10b was the highest valuation ever for an NBA franchise and puts the Lakers just below the Dallas Cowboys as the world’s second-most valuable sports franchise.

Warner Bros Discovery $WBD ( ▲ 1.52% ) plans to revert 2 major 2022 decisions, reportedly splitting back into 2 companies (Warner Bros and Discovery) and flip-floping the name of its streaming service back to HBO Max.

Apparently, McKinsey raked in tens of millions recommending all of these decisions.

Some people believe that consultants aren’t paid for their savvy business ideas. They’re paid to take the blame if those ideas don’t work.

Warner Bros’ backtrack might be a perfect example of that.

Big changes are coming to two premium heavyweight credit cards: Chase Sapphire Reserve and Amex Platinum.

While these cards can pack a ton of value in statement credits and airport lounge access, both cards now have annual fees that are creeping toward $1k per year. Additionally, you often have to jump through hoops to make the most of your benefits.

What do you think? Are premium cards worth it?

BOXABL believes they have the potential to disrupt a massive and outdated trillion-dollar building construction market by bringing assembly line automation to the home industry.

BOXABL homes are built in their Las Vegas factory, folded, shipped on a truck, and then unfolded on site in one hour. They aim to transform home construction, much like how Henry Ford automated car manufacturing – bringing assembly line efficiency and mass production to an artisanal, slow industry.

And they're not just dreaming big; they're delivering:

BOXABL has already raised over $200M from 50,000+ investors since 2020, and recently achieved a significant milestone: raising over 50% of their Reg A+ funding limit!

Like other game-changing companies, you have a chance to invest in BOXABL’s offering at just $0.80/share. All BOXABL crowdfunding will close on June 24th. This includes all accredited and non-accredited offerings.

Invest today before it's too late!

This is the LAST CHANCE to invest in the current BOXABL funding round and claim your bonus shares.

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Disclosure: This is a paid advertisement for BOXABL’s Regulation A offering. Please read the offering circular here. This is a message from BOXABL

*Reserving a Nasdaq ticker does not guarantee a future listing on Nasdaq or indicate that BOXABL meets any of Nasdaq's listing criteria to do so.

Initial Public Offerings (IPOs) — when a private company releases shares to the public for the first time — allow retail investors to scoop up shares of exciting, growing businesses.

IPOs are getting more popular after a lull in 2023 and 2024. But fair warning: these stocks are highly volatile.

For example, CoreWeave $CRWV ( ▼ 5.39% ) is up +325% since going public this year, but Robinhood $HOOD ( ▼ 2.74% ) dropped 70% and stayed down for years following its IPO. IPO investing is a bit of a dice roll.

IPOs could grow more common later this year, especially if JPowell lowers interest rates later this year. Speaking of which…

President Trump amped up the pressure on Jerome Powell this past week.

President Trump wants lower rates so the economy can boom. JPowell wants the economy to grow consistently while inflation stays down.

Jerome Powell was appointed in 2018 (By Trump, ironically). But with his term up in May 2026, America’s top banker might officially be in the hot seat.