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The billionaire slated to take over the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence.Mark Walter is CEO of the global investment and advisory company Guggenheim Partners, which is estimated to have more than $325 billion in assets. He’s also cofounder and CEO of holding company TWG Global.Forbes estimates Walter’s net worth is $6.1 billion. The publication ranked him at No. 216 on its Forbes 400 list last year.Walter received an undergraduate degree in business administration from Creighton University and a law degree from Northwestern University, but ultimately chose business over a career in law.In the mid-1990s, he cofounded Liberty Hampshire, an investment management firm in Chicago. That business became part of Guggenheim Partners, which Walter cofounded in the late 1990s.In addition to Guggenheim, Walter cofounded TWG Global with film producer Thomas Tull. The company holds a portfolio of finance and insurance sector companies, including Guggenheim Investments, Guggenheim Securities, Group 1001 Insurance, and Delaware Life. It also includes aerospace and defense technology company Shield AI.Last month, TWG Global announced a partnership with Palantir Technologies and Elon Musk’s AI company, xAI, maker of Grok, aimed at developing artificial intelligence for use in the financial services industry.TWG Global also includes investments in sports, media and entertainment franchises, such as the controlling interest in the Los Angeles Dodgers, Premier League club Chelsea, the Professional Women’s Hockey League andthrough TWG Motorsportsownership of several auto racing teams including Cadillac Formula 1.Beyond business, Walter and his wife, Kimbra, have founded or contributed to various philanthropic organizations, including the Los Angeles Dodgers Foundation, the Academy Group, Chicago Beyond, and OneGoal. Alex Veiga, AP Business Writer
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An appeals court on Thursday allowed President Donald Trump to keep control of National Guard troops he deployed to Los Angeles following protests over immigration raids.The decision halts a ruling from a lower court judge who found Trump acted illegally when he activated the soldiers over opposition from California Gov. Gavin Newsom.The deployment was the first by a president of a state National Guard without the governor’s permission since 1965.In its decision, a three-judge panel on the 9th U.S. Circuit Court of Appeals unanimously concluded it was likely Trump lawfully exercised his authority in federalizing control of the guard.It said that while presidents don’t have unfettered power to seize control of a state’s guard, the Trump administration had presented enough evidence to show it had a defensible rationale for doing so, citing violent acts by protesters.“The undisputed facts demonstrate that before the deployment of the National Guard, protesters ‘pinned down’ several federal officers and threw ‘concrete chunks, bottles of liquid, and other objects’ at the officers. Protesters also damaged federal buildings and caused the closure of at least one federal building. And a federal van was attacked by protesters who smashed in the van’s windows,” the court wrote. “The federal government’s interest in preventing incidents like these is significant.”It also found that even if the federal government failed to notify the governor of California before federalizing the National Guard as required by law, Newsom had no power to veto the president’s order.Trump celebrated the decision on his Truth Social platform, calling it a “BIG WIN.”He wrote that “all over the United States, if our Cities, and our people, need protection, we are the ones to give it to them should State and Local Police be unable, for whatever reason, to get the job done.”Newsom issued a statement that expressed disappointment that the court is allowing Trump to retain control of the Guard. But he also welcomed one aspect of the decision.“The court rightly rejected Trump’s claim that he can do whatever he wants with the National Guard and not have to explain himself to a court,” Newsom said. “The President is not a king and is not above the law. We will press forward with our challenge to President Trump’s authoritarian use of U.S. military soldiers against citizens.”The court case could have wider implications on the president’s power to deploy soldiers within the United States after Trump directed immigration officials to prioritize deportations from other Democratic-run cities.Trump, a Republican, argued that the troops were necessary to restore order. Newsom, a Democrat, said the move inflamed tensions, usurped local authority and wasted resources. The protests have since appeared to be winding down.Two judges on the appeals panel were appointed by Trump during his first term. During oral arguments Tuesday, all three judges suggested that presidents have wide latitude under the federal law at issue and that courts should be reluctant to step in.The case started when Newsom sued to block Trump’s command, and he won an early victory from U.S. District Judge Charles Breyer in San Francisco.Breyer found that Trump had overstepped his legal authority, which he said only allows presidents can take control during times of “rebellion or danger of a rebellion.”“The protests in Los Angeles fall far short of ‘rebellion,'” wrote Breyer, who was appointed by former President Bill Clinton and is brother to retired Supreme Court Justice Stephen Breyer.The Trump administration, though, argued that courts can’t second guess the president’s decisions and quickly secured a temporary halt from the appeals court.The ruling means control of the California National Guard will stay in federal hands as the lawsuit continues to unfold. Associated Press
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Life is composed of seasons, and today marks the beginning of the hottest one of all for those in the Northern Hemisphere. According to the Farmer’s Almanac, the summer solstice takes place today (Friday, June 20) at 10:42 p.m. EDT. Weather permitting, the first official day of astronomical summer sees the most daylight of the year. Let’s dive into what all that means and how you can celebrate. What is the science behind the summer solstice? The Earth rotates on its axis every day, creating night and day. According to NASA, its axis is tilted 23.4 degrees. This tilt, as the Earth orbits the sun, creates the seasons. For half of the year, the Northern Hemisphere is pointed at the sun producing summer. The other half, it points away, producing winter. This also means the sun rises and sets at different points in the sky during the orbital process. The summer solstice occurs when the sun is at the highest point in the sky and appears to metaphorically pause there for a time. While scientists can give an exact time for this occurrence, most people celebrate the whole day. Different perspectives on the beginning of summer There are different schools of thought on the starting date for summer. If you ask a meteorologist, she will tell you June 1. This is because meteorologists focus on temperatures, and organizing the months into seasons helps them compare data. The summer solstice focuses on astronomical summer. This begins June 20-22 each year when the sun reaches the northernmost point in the sky. Why is there more daylight on the summer solstice? Most people say the summer solstice is the longest day of the year, but there are 24 hours in a day, regardless of the time of year. The “longest day” moniker actually refers to the number of daylight hours. Because the sun is at its highest point, it takes longer to rise and set, granting more light. What does Stonehenge have to do with the summer solstice? While many unanswered questions remain about Stonehengethe famous large circular stone monument located on Salisbury Plain in Wiltshire, Englandone fact is certain. Its creation was meant to line up with the sun during solstices. In the summer, it is breathtaking to see the sun rising behind the Heel Stone, causing its rays to pour into the center of the structure. How can I celebrate the summer solstice? No matter where you are located, you can celebrate the day and watch the festivities at Stonehenge. English Heritage, the organization manages the popular tourist attraction will live-stream the summer solstice festivities, beginning on June 20 at 20:00 BST. The stream will start the following day at 04:00 GMT and sunrise takes place at 04:52 GMT.
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