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Facebook CEO Mark Zuckerberg rides an electric surfboard holding the American flag. July 4, 2021.
Mark Zuckerberg, Instagram

Mark Zuckerberg celebrated Fourth of July in unique fashion: Holding an American flag as he glided on a body of water, elevated on a board about a foot above the surface.

The Facebook CEO was hydrofoiling, which is a new type of watersport that has grown in popularity among outdoor enthusiasts — and those with plenty of cash to spend on a piece of sporting equipment that costs thousands of dollars. 

Though Zuckerberg is mostly known for being the awkward founder of the world’s largest social network and one of richest people on the planet, he’s also become one of the most visible hydrofoilers out there, bringing more attention to the up-and-coming sport. 

While surfing requires the power of a wave to get going, and wakeboarding relies on a boat to tow the rider, hydrofoiling uses a winglike structure under the surface of the water to create lift. The rider uses a handheld bluetooth controller that connects to an electric motor and underwater propeller, or creates momentum manually by pumping their legs up and down, as Zuckerberg does in his Fourth of July post

“It’s a hydrofoil. There’s a wing under the water that I’m riding that pushes the board into the air,” Zuckerberg wrote in a comment on his post. “It’s a lot of fun. There’s an electric-powered version that you can get, but in this video I’m riding a regular foil board and surfing a little wave.”

Electric boards cost upwards of $10,000

Surfers have been toying with the idea of using hydrofoil technology for decades, but the sport didn’t really take off until foil boards became commercially available in 2018, said Nick Leason, co-founder of Lift Foils, which was one of the first companies to sell them.

Prior to foil boards, Leason and his company had been selling boards for kite surfing, which uses a kite in the air to pull a rider on a board across the water. Kite surfing requires a lot of skill, however, which limits the size of the market, Leason said. Foiling is much easier to pick up, and it feels like you’re gliding. 

“It’s just this really unique feeling of flying over the water,” said Leason, whose company is based in Puerto Rico. “You kind of feel like a pelican, or a wannabe pelican.”

Puerto Rican company Lift Foils is one of the companies that sell hydrofoil boards.
Courtesy of Lift Foils

There are different kinds of hydrofoil boards.

Surf foils include the board and the foil but no motor, requiring users to create momentum with their own bodies, and typically cost about $2,000. Efoils have electric motors that let them reach speeds of 25 miles per hour and typically sell for at least $10,000. 

Although foiling requires less skill than kite surfing, the steep price limits its potential market to extreme watersport enthusiasts and people with deep wallets. Canadian company MSLR Electric E-Foil, for example, notes that many of its customers are NHL hockey players. 

“The boards are made out of such high-quality materials, said MSLR Founder and Owner Carey Missler. MSLR sells two efoil boards, the Navigator and the Player, both for $10,000. “It takes a while to custom build these boards, plus you’ve got your expensive components of lithium ion batteries and carbon fiber.”

For Zuckerberg, who is the fifth-richest person in the world, with a net worth of approximately $125 billion, according to Forbes, money is no problem. That’s why he owns numerous boards, including custom-painted and custom-built versions made by Lift Foil, Leason said. 

“That’s our product that he’s riding on in the video. He probably owns every model that we have,” Leason said. “He’s really into it. He loves it.”

Zuckerberg ‘was ripping’

Zuckerberg first began to post about hydrofoiling in August 2019, when he uploaded two photos of himself on a foilboard being towed by a boat. 

“Trying a new sport in Kauai with one of the best, Kai Lenny,” said Zuckerberg, referring to the professional surfer. 

Leason said Lenny has been essential to the growth of hydrofoiling as a sport, trailblazing how people use the unfamiliar gear and taking the time to teach new folks about foiling. That includes Zuckerberg, Leason said. 

“I think Kai, he’s like magical on a foil, and seeing all the stuff that he does,” Zuckerberg said on Instagram in April. “It’s sort of helped me get into the sport just watching him foil down a huge wave then turn around, go back up wind, up the wave, do a flip off the wave. It’s like Oh my god. It’s unreal.”

In December 2019, Zuckerberg posted a video of himself efoiling while wearing a bright orange helmet. Although helmets aren’t the most stylish getup, they are an important piece of equipment that experts recommend, especially for new foilers. Experts also recommend wearing impact vests. 

“The boards are made with carbon fiber. It’s a very, very durable material, which means that if your head was to strike it, it could be very harmful if you weren’t wearing a helmet,” said MSLR Co-owner Taylor Coulthard. 

Canadian company MSLR Electric E-Foil is one of the companies that sell hydrofoil boards.
Courtesy of MSLR Electric E-Foil

Zuckerberg was caught by paparazzi efoiling in Hawaii with his face completely covered in sunscreen in July 2020. The photo became an instant viral meme. 

“I was foiling around, and then I noticed there was this paparazzi guy following us. I was like ‘Oh I don’t want him to recognize me so you know what I’m gonna do? I’m just gonna put a ton of sunscreen on my face so he won’t know who I am,'” Zuckerberg said with a laugh on Instagram in April. “But that backfired.”

Zuckerberg later poked fun at himself about the whole thing last month when he posted a cartoon version of the picture.

“The sun never stood a chance,” Zuckerberg wrote on Facebook. 

But despite his awkward episodes, those in the world of foiling say Zuckerberg has actually gotten quite good at the sport. 

“It’s funny that most people think that Mark Zuckerberg is a little nerdy guy behind his computer in some lair somewhere, but he’s actually quite a good athlete as you see in that video,” Leason said. “He’s put in a lot of practice on the foil. He’s doing quite well.”

Perhaps more importantly for those that sell foil boards, Zuckerberg is also doing a lot to generate attention and buzz.

“It has brought some interest,” Missler said. “That was an incredible shot. He was ripping. He was doing amazing.”

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CNBC Daily Open: Trump’s handprints on the U.S. economy

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CNBC Daily Open: Trump's handprints on the U.S. economy

U.S. President Donald Trump gestures during an announcement regarding his administration’s policies against cartels and human trafficking, from the State Dining Room at the White House in Washington, D.C., U.S., Oct. 23, 2025.

Jonathan Ernst | Reuters

China on Thursday concluded its “Fourth Plenum,” a meeting aimed at setting out the country’s development agenda for the next five years. Beijing will focus on domestic consumption, self-reliance in technology as well as the agricultural and manufacturing sectors.

In the U.S. economy and markets — generally considered the exemplar of free-market capitalism — the government’s handprints have started becoming visible, if you squint a little.

Trump, who terminated trade negotiations with Canada over an ad, pardoned Binance founder Changpeng Zhao, the White House said Thursday. Zhao was convicted in April 2024 for enabling money laundering at Binance.

The Wall Street Journal reported in August that the Trump family’s crypto venture has been helped by “a partnership with an under-the-radar trading platform quietly administered by Binance.”

Even corporate earnings had the mark of the White House.

Intel reported third-quarter revenue that surpassed analysts’ expectations, helping the stock jump 7.7% in extended trading.

But it’s hard to ignore the elephant in the room, that is, the U.S. government’s 10% stake in the company, acquired in August. The company’s stock has seen a massive surge since that acquisition, with President Donald Trump saying the government has made $30 billion to $40 billion on its stake. The transaction, however, complicates Intel’s accounting practices for its income, the company suggested in a press release.

Trump’s proclivity for acquiring stakes in U.S. companies and his other dealings that seem to blur the personal with the professional raise the question: are we seeing a four-year U.S. economic plan — with a twist — unfold?

What you need to know today

Trump terminates trade talks with Canada. The U.S. president appeared to take umbrage with an ad, aired by Ontario provincial government, featuring Ronald Reagan criticizing tariffs. Trump also accused Canada of attempting to influence the U.S. Supreme Court’s case regarding tariffs.

Trump pardons Binance founder Changpeng Zhao. The move came two months after The Wall Street Journal reported on the Trump family’s crypto venture, which appeared to have links with a trading platform “administered by Binance.”

China softens rhetoric ahead of Trump-Xi meeting. Chinese Commerce Minister Wang Wentao on Friday said that both countries can “find the right path for getting along,” in comments translated by CNBC. The White House said Trump will meet Xi at the APEC summit next Thursday.

U.S. stocks advanced Thursday. The Nasdaq Composite outperformed, thanks to tech stocks. Asia-Pacific stocks rose Friday. South Korea’s Kospi hit another record, while Japan’s Nikkei 225 climbed amid data showing the country’s core inflation rose in September, as expected.

[PRO] Time to consider dividend stocks, CIO says. As interest rates come down, in accordance with market expectations, such stocks should get a boost, according to Kevin Simpson, founder and chief investment officer at Capital Wealth Planning.

And finally…

A shopper looks at produce at a grocery store in West Milton, Ohio, US, on Tuesday, Oct. 21, 2025.

Kyle Grillot | Bloomberg | Getty Images

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CNBC Daily Open: U.S.’ 4-year economic plan, with a Trump twist?

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CNBC Daily Open: U.S.' 4-year economic plan, with a Trump twist?

U.S. President Donald Trump gestures during an announcement regarding his administration’s policies against cartels and human trafficking, from the State Dining Room at the White House in Washington, D.C., U.S., Oct. 23, 2025.

Jonathan Ernst | Reuters

China on Thursday concluded its “Fourth Plenum,” a meeting aimed at setting out the country’s development agenda for the next five years. Beijing will focus on domestic consumption, self-reliance in technology as well as the agricultural and manufacturing sectors.

In the U.S. economy and markets — generally considered the exemplar of free-market capitalism — the government’s fingerprints have started becoming visible, if you squint a little.

For instance, Intel reported third-quarter revenue that surpassed analysts’ expectations, helping the stock jump 7.7% in extended trading. Intel said demand for its processors appears to be recovering.

But it’s hard to ignore the elephant in the room, that is, the U.S. government’s 10% stake in the company, acquired in August. The company’s stock has seen a massive surge since that acquisition, with President Donald Trump saying the government has made $30 billion to $40 billion on its stake. The transaction, however, complicates Intel’s accounting practices for its income, the company suggested in a press release.

Trump, meanwhile, pardoned Binance founder Changpeng Zhao, the White House said Thursday. Zhao was convicted in April 2024 for enabling money laundering at Binance.

When asked why Trump pardoned Zhao, the president said, “A lot of people say that he wasn’t guilty of anything. And so I gave him a pardon at the request of a lot of very good people.”

The Wall Street Journal reported in August that the Trump family’s crypto venture has been helped by “a partnership with an under-the-radar trading platform quietly administered by Binance.”

Trump’s proclivity for acquiring stakes in U.S. companies and his other dealings raise the question: are we seeing a four-year U.S. economic plan — with a twist — unfold?

What you need to know today

Intel beats revenue expectations. Third-quarter sales came in at $13.65 billion, higher than the $13.14 billion from an LSEG consensus estimate. Intel added that demand for its chips outstripped supply.

Trump pardons Binance founder Changpeng Zhao. The move came two months after The Wall Street Journal reported on the Trump family’s crypto venture, which appeared to have links with a trading platform “administered by Binance.”

China to encourage consumption over the next five years. Top government leaders emphasized the need to “vigorously boost consumption” in the domestic economy, a readout of China’s “Fourth Plenum” meeting said, according to a CNBC translation.

The S&P 500 claws back losses. The index rose 0.58% on Thursday, recovering from Wednesday’s fall. The Stoxx Europe 600 added 0.37%, with shares of Kering popping 8.7% after the luxury conglomerate beat revenue expectations.

[PRO] Time to consider dividend stocks, CIO says. As interest rates come down, in accordance with market expectations, such stocks should get a boost, according to Kevin Simpson, founder and chief investment officer at Capital Wealth Planning.

And finally…

Russian President Vladimir Putin observes the Russia-Belarus joint military exercises, codenamed Zapad-2025 (West-2025), at the Mulino training ground in the Nizhny Novgorod region, Russia September 16, 2025.

Mikhail Metzel | Via Reuters

Stony silence from Moscow after Trump turns on Russia, says talks with Putin ‘don’t go anywhere’

Just days after a “very productive” phone call between U.S. President Donald Trump and his Russian counterpart Vladimir Putin, Trump changed tack on Wednesday, voicing his frustration with Moscow. “We canceled the meeting with President Putin. It just, it didn’t feel right to meet,” he said Wednesday.

Trump’s comments on Putin were not highlighted by pro-Kremlin state media outlets such as TASSRadio Sputnik and RIA Novosti on Thursday, with barely a mention of the criticism or the canceled meeting.

— Holly Ellyatt

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Applied Materials lays off 4% of workforce

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Applied Materials lays off 4% of workforce

Signage outside Applied Materials headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.

David Paul Morris | Bloomberg | Getty Images

Chip equipment manufacturer Applied Materials is laying off 4% of its workforce.

The company on Thursday began notifying impacted employees around the world “across all levels and groups,” it said in a filing. Applied Materials provides equipment, services and software to industries, including the semiconductor industry.

Applied Materials had approximately 36,100 full-time employees, according to an August 2025 filing. A layoff of 4% would represent about 1,444 employees.

“Automation, digitalization and geographic shifts are redefining our workforce needs and skill requirements,” the company wrote in the filing. “With this in mind, we have been focused for some time on building high-velocity, high-productivity teams, adopting new technologies and simplifying organizational structures.”

The move comes at the end of the company’s fiscal year. Earlier this month, the Applied Materials forecasted a $600 million hit to fiscal 2026 revenue after the U.S. expanded its restricted export list. That resulted in company shares to dipping 3% in extended trading.

As a result of the workforce reduction, Applied Materials expects to incur charges of approximately $160 million to $180 million, consisting primarily of severance and other one-time employment termination benefits to be paid in cash, the filing states.

The company said the cuts are a way to position itself “as a more competitive and productive organization.”

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