Friday's Fast Five: Week of 5.23

Meet the ‘Stealthy Wealthy’ Who Make Their Money the Boring Way (Wall Street Journal): Finance and Silicon Valley offer glamorous, high-profile paths that can lead to significant wealth. But a vast universe of traditional routes focused on providing goods and services has become increasingly central to the accumulation of significant, if less obvious, wealth in the U.S.

Why Interest Rates Are Shooting Up All Around the World (Odd Lots - Podcast): This week the big story in markets is the selloff in bonds. What’s going on? And how much does this have to with worries over the US fiscal position, the return of inflation, and the outlook for rate cuts from the Federal Reserve? On this episode, we speak with Steven Englander, global head of G-10 FX research at Standard Chartered. We talk about what’s driving the dramatic moves and the relationship between fiscal and monetary policy.

7 life lessons from Warren Buffett that have nothing to do with picking stocks (Market Watch): We all have the ability to emulate the Oracle of Omaha in the ways that really matter

Spotify Has Paid More Than $100 Million to Podcasters to Take On Competitors (New York Times): Spotify has paid more than $100 million to podcast publishers and creators since January, the company told The New York Times’s DealBook. The payout is the result of a program introduced in 2025 that opened up new revenue streams to eligible hosts. But it is also an attempt to draw more creators (and their audiences) to Spotify, as the rise of video podcasting has driven many of them to YouTube.

American Owners Got Chewed Up by English Soccer. Now They Can’t Stop Winning. (Wall Street Journal): Once seen as clueless across the Atlantic, U.S. soccer investors are about to claim championships in each of England’s top three leagues.