Forbes Daily: A Stunning Upset In the New York City's Mayor's Race

Published 21 hours ago• 6 minute read

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Startup ForSight Robotics said Tuesday it raised $125 million to expand its robotics platform that it says is the first in the world for cataracts and other eye diseases. Cataract surgery is one of the most common procedures, with more than 4 million done in the U.S. annually, but there aren’t enough doctors to meet the demand.

The company, now valued at an estimated $500 million, is testing its technology on pig eyes, but plans to complete its first full robotic surgery on a person later this year. Long term, cofounder Dr. Joseph Nathan told Forbes the technology could also be used for other surgeries, such as retina repairs and glaucoma treatments.

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Progressiveclaimed victory in the Democratic Party’s New York mayoral primary shortly after former New York Gov. Andrew Cuomo conceded the race on Tuesday night, though it remains to be seen whether Cuomo will run on a separate party’s ticket in the general election. But because of the city’s ranked-choice voting system, the final tally is likely to take several days. Mamdani, a democratic socialist, campaigned on policies like freezing the rent and free buses.

MORE: Despite their different political approaches, Mamdani and Cuomo’s life stories, with both having privileged upbringings. But where they diverge is their net worth: Forbes estimates Mamdani to be worth around $200,000, fifty times less than Cuomo, who we peg at $10 million.

Stocks , jumping to near record highs despite economic uncertainty and heightened geopolitical tensions. Fueling the rise was optimism that Iran would not close a crucial oil passageway, as the S&P 500 closed up 1.1%, reaching its highest level since late February.

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In the wake of the U.S. striking Iranian nuclear sites, social media apps like TikTok, YouTube and Instagram have been flooded with AI-generated pro-Iran propaganda. None of the platforms explicitly prohibit propaganda, but the presence of between nations and their populations.

Autonomous driving leader Waymo launched in Atlanta this week, its fifth major city, just days after competitor Tesla started piloting paid robotaxi rides in Austin. A ,Waymo is partnering with Uber for ride booking and vehicle service, and will eventually expand its fleet of cars in the city from dozens to hundreds.

Recent polls suggest that a majority of Americans disapprove of the , though reactions are split along party lines. The military action has also divided prominent Trump loyalists, though some who initially spoke out against it have since fallen in line.

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The for former MLB star Alex Rodriguez and e-commerce mogul Marc Lore to purchase the Minnesota Timberwolves Tuesday, following a yearslong dispute with former owner and billionaire Glen Taylor. The transaction, which includes the sale of the controlling interests in the Timberwolves and the WNBA’s Minnesota Lynx from Taylor to Lore and Rodriguez, is expected to close later this week.

President Donald Trump dismissed reports that the U.S. attack on Iranian nuclear facilities only set back the country’s nuclear program by a few months, and continued toA classified report, according to the New York Times, says the U.S. bombing closed off the entrances to two enrichment facilities but “did not collapse their underground buildings.”

As the Senate works to pass its version of the One Big Beautiful Bill Act, it must first go through Parliamentarian Elizabeth MacDonough, who has alreadyunder the Byrd Rule, which places limits on what can be included in budget reconciliation. Some of the provisions found to be in violation include attempts to eliminate funding for the Consumer Financial Protection Bureau and an effort to limit the power of the courts, but surprisingly, a proposed 10-year ban on state-level AI regulations was allowed to move forward. While the Senate could vote to waive the Byrd Rule, it would require 60 votes—which Republicans don’t have.

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As part of the huge tax and budget cutting package Republicans are rushing through Congress, legislators are by more than $300 billion over the next decade.

Both the House-passed 2025 budget reconciliation bill and the Trump Administration’s 2026 budget proposal would also take a chunk out of Pell Grants for low and moderate income students. These half-century-old awards, which don’t need to be repaid, make a big difference inand stay in college, their supporters say.

Under current policy, Pell Grants of up to $7,395 will be awarded to 7.4 million students during the 2025–26 school year, at a cost of $38.1 billion the Congressional Budget Office projects. The Trump Administration calls for chopping the maximum award for the 2026–27 school year to just $5,710, arguing that this 23% cut (even bigger if inflation is taken into account) is needed to combat a projected funding shortfall.

Although Pell grants play a big role in the budgets of two-year community colleges, they’re also crucial to a surprising collection of small four-year institutions. We identified 36 four-year schools where Pell aid made up at least 25% percent of total revenue in 2022–23, the last year for which federal data is available.

The list is dominated by colleges in Puerto Rico and religious-affiliated schools, primarily Orthodox Jewish schools in New York. Surprisingly, none is an Historical Black College or University, even though more than 70% of HBCU students are eligible for at least some Pell Grant money.

“Potential GOP cuts to Pell Grants for lower income students have received comparatively little attention, particularly when compared with student loan changes,” says Forbes intern Fiona Riley. “But it’s . Some surprising colleges are dependent on this money.”

Trump’s Foreign Student Crackdown Puts These 16 Struggling Colleges At Risk

Millionaires are on the move, as a new report reveals the in modern history is underway. The United Arab Emirates and the U.S. are gaining new wealthy residents, while China and the U.K. are some of the biggest losers:

The record number of high net worth individuals (HNWIs), defined as having liquid investable wealth of $1 million or more, who will acquire residency or citizenship status in another country this year

The share of HNWIs who “opt for investment migration programs” to secure residency or citizenship

according to the Henley Private Wealth Migration Report 2025

If your new role doesn’t match the job description you discussed during interviews, try talking to your manager about expectations. Figure out what’s behind the misunderstanding, and come up with your own job description that tries to balance what you want with the company’s priorities. But ultimately, if the role doesn’t include the responsibilities you expected, it’s reasonable to consider cutting your losses and moving elsewhere.