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Half the cost of President Trump’s $600 million ballroom will be placed on the shoulders of U.S. taxpayers like you. This development, based on financial records obtained by The Washington Post, comes just two months after Trump promised the project would be “taxpayer free,” with no U.S. citizen paying even “10 cents.” The ballroom has already eclipsed the $400 million Trump originally said it would cost. And while Trump has defended the necessity of the ballroom profusely, it’s become abundantly clear that this is simply another vanity project for him to feel like he’s actually done something successful, even as there’s no real need or demand for the ballroom—especially not if Americans are paying for $300 million of its price. And the wealthy individuals who are actually paying for it are getting government contract kickbacks for doing so. “I guess ‘privately funded’ meant Trump was keeping it private that he’s stealing hundreds of millions of the public’s money for his ballroom. All this while gutting health care and raising costs,” Democratic Representative Gabe Amo wrote on X. “Shame. We have to stop this grift.”

Tech zombies trap users and vendors then scam for cash to the bitter end.

In this special episode of Compound Interest, Semafor’s Chief Commercial Officer Rachel Oppenheim sits down with Todd Heimes, Vice President and General Manager at our season sponsor, Amazon Business.

The global energy trade will never be the same.

Several major banks cut their oil price forecasts.

While tech-driven exports soar, domestic retail sales remain paltry.

Japan’s benchmark stock index hit a record after the announcement.

Parent company Yum Brands is shedding itself of Pizza Hut, as the onetime biggest U.S. pizza brand continues its death spiral.