Tag: 20B

  • Zeldin demands return of B in taxpayer money wasted by Biden administration

    Zeldin demands return of $20B in taxpayer money wasted by Biden administration

    The Environmental Protection Agency (EPA) administrator Lee Zeldin said Wednesday that his team has located $20 billion in tax dollars that the Biden administration purposely wasted.

    “An extremely disturbing video circulated two months ago, featuring a Biden EPA political appointee talking about how they were ‘tossing gold bars off the Titanic,’ rushing to get billions of your tax dollars out the door before Inauguration Day,” Zeldin said in a video posted to X, citing another video from December. “The ‘gold bars’ were tax dollars and ‘tossing them off the Titanic’ meant the Biden administration knew they were wasting it.”

    Zeldin said the EPA has plans to recover the “gold bars” that were found “parked at an outside financial institution,” which he does not mention by name.

    He said that “this scheme was the first of its kind in EPA history, and it was purposefully designed to obligate all the money in a rush job with reduced oversight” before Inauguration Day.

    TRUMP TAPS FORMER NEW YORK REP LEE ZELDIN TO LEAD EPA

    Former Rep. Lee Zeldin, R-N.Y., President Donald Trump’s pick to head the Environmental Protection Agency, appears before the Senate Environment and Public Works Committee on Capitol Hill, Thursday, Jan. 16, 2025, in Washington. (AP Photo/Mark Schiefelbein)

    Zeldin said “there is zero reason to suspect any wrongdoing by the bank,” but he thinks agreement with the institution “needs to be instantly terminated” and all the money should be immediately returned.

    He also said the EPA needs to reassume responsibility for all of these funds, adding that his team will “review every penny that has gone out the door.”

    THROUGH THE EPA, WE CAN PURSUE ENERGY DOMINANCE, LEE ZELDIN SAYS | FOX NEWS VIDEO

    epa hearing

    Former Rep. Lee Zeldin, R-N.Y. arrives at EPA confirmation hearing. (Fox News Digital/Charlie Creitz)

    “The days of irresponsibly shoveling boatloads of cash to far-left activist groups in the name of environmental justice and climate equity are over,” Zeldin said. “The American public deserves a more transparent and accountable government than what transpired these past four years.”

    He also said that he would be referring this matter to the inspector general’s office and that he would work with the Department of Justice to assist President Donald Trump in regaining control.

    2022 NYC governor election

    FILE – U.S. Rep. Lee Zeldin, the Republican candidate for New York governor, participates in a debate against incumbent Democratic Gov. Kathy, on Oct. 25, 2022, at Pace University in New York. (AP Photo/Mary Altaffer, Pool, File)

    CLICK HERE TO GET THE FOX NEWS APP

    “Now we will get them back inside of control of government as we pursue next steps. As President Trump has vowed, we’re going to usher in a new Golden Age of American success for the citizens of every race, religion, color and creed,” Zeldin said at the end of the video.

    Elon Musk also commended Zeldin on X for an “awesome job” saving taxpayer money.

  • Nvidia CEO loses over B after stock tanks

    Nvidia CEO loses over $20B after stock tanks

    Nvidia CEO Jensen Huang saw his personal fortune tumble on Monday amid turbulence in U.S. tech stocks. 

    His net worth hit $103.7 billion by the end of the trading day, marking a $20.8 billion drop, Forbes reported.

    The outlet, which tracks the fortunes of billionaires, linked the 11-figure decrease in his net worth to Nvidia’s stock falling 17% over the course of the day. 

    Nvidia CEO Jensen Huang delivers a keynote address at the Consumer Electronics Show in Las Vegas on Jan. 6, 2025. (Patrick T. Fallon/AFP via / Getty Images)

    Shares of Nvidia and other U.S. tech companies, particularly those with links to the artificial intelligence sector, fell on Monday after the popularity of Chinese AI startup DeepSeek raised concerns among investors over American dominance in the sector.

    CHINA’S DEEPSEEK DERAILS NASDAQ, NVIDIA, AI DARLINGS

    DeepSeek wrote in a paper last month that it trained its DeepSeek-V3 model with less than $6 million worth of computing power from what it says are 2,000 Nvidia H800 chips to achieve a level of performance on par with the most advanced models from OpenAI and Meta.

    DeepSeek's AI chatbot

    Shares of Nvidia and other U.S. tech companies, particularly those with links to the artificial intelligence sector, fell on Monday after the popularity of Chinese AI startup DeepSeek raised concerns among investors over American dominance in the sec (Photo Illustration by Justin Sullivan / Getty Images)

    Huang co-founded Nvidia over three decades ago and has a roughly 3% holding in the company, Forbes reported. 

    GET FOX BUSINESS ON THE GO BY CLICKING HERE

    Ticker Security Last Change Change %
    NVDA NVIDIA CORP. 122.58 +4.16 +3.52%

    Huang’s current net worth ranks among the 20 largest fortunes in the world, according to the outlet. His net worth crossed the $100 billion mark for the first time in May of last year.

    WHAT IS THE CHINESE AI STARTUP DEEPSEEK?

    Nvidia headquarters

    The Nvidia headquarters in Santa Clara, California, on Aug. 28, 2024. (Loren Elliott/Bloomberg via / Getty Images)

    The company’s market capitalization hovered around $2.98 trillion as of Tuesday. 

    FOX Business’ Eric Revell contributed to this report.