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>> a fresh high for that name. speaking of, the stock drove wwe superstar charlotte flare to a runaway victory in the cnbc stock draft. she will join us later to claim her title. first, let's get a check on the market. there is a little bit of a mixed picture. the nasdaq is just below the flatline right there as it did kids and you 52 week high. s&p 500 firmly above 5000. 5034 there and dow is half a percent today. moving past amazon, the fourth most valuable company in the world and behind apple, microsoft and alphabet. nvidia having a huge impact on beemer imaging today. the two companies are partnering are a new standard for videos and as you can see, beamr is up 800%. >> numbers like that are calling the mind, the 1990s.com mania. is it just the beginning as in

1995? are we coming to the end of the cycle, like 1999? take us through the numbers, michael. >> none of these historical analogies ever match up perfectly and it's not going to be a pure rerun, but it is instructive and interesting to go through why there is a much tighter. for example, about 1999 echoes in the last few weeks. this will be a tech dominated relatively narrow rally to a new record high. that is what happened to the course of 99 and even before that. the concentration of the market may be in the late economic cycle and is causing people to believe that it looks similar to the parabolic charge of cisco, for example in the peak that day. 1995 is the perfect soft economic landing. near the bottom market crash, because the fed was tightening

aggressively. fed pivoted in 1995 and the stock market took off. we have a productivity boom and eventually, you got the big internet revolution and stock market rally to go along with it. years ahead, growth in the economy and market. i would argue that the 1999 comparison doesn't add up in terms of magnitude and speed of the events in the market, as well as the activity and retail investor activity. we are not there and will probably not get there. i don't think that means you can have it overheated or overvalued in certain pockets, like you have been talking about with the moves in some of the smaller and lower quality tech stocks, as well. probably in the middle and we are not at the very beginning of some multiyear employment cycle. it is worth figuring out which threads are showing up today. >> my memory is faulty, but as i recall in the mid-1990s toward the late 1990s, there

were stocks that were dissipating in the rally of companies that just didn't make any money at all. they were profitable. that is not the case today, is it? >> not ith the nasdaq versus then. back then, it was emerging growth and even though the profitable companies like microsoft traded at much higher values than right now. i would like to point out in 1999, 400 ipos and almost none of them have profits already and the average monday first day was like 90%. we don't have anything like that frenzy going on right now. that doesn't mean that the market cannot get back here. >> mike santoli, thank you. both the dow and s&p are fresh records. my next guest thinks that the rally led by a handful of big tech companies is to narrow in favor sectors with macro tailwinds and he brings us some of his top names. david, chief market strategist at turtle creek wealth

advisers. good to see you. are you concerned that the market has too much fraud in it or is something else bothering you? >> the last conversation you had was instructed. if you asked me six months ago, i would have said that it feels like 99, but as we move further through the cycle, it feels like 1995. this immaculate disinflation that is coming about without a recession and it doesn't look like we will have one now. clearly, it is going the market. broadening out would be nice and in recovery, you have small caps and we are not saying that yet. turn back the clock a year and let me tell my clients to load up and look like a genius. today, it is really hard to bet against the market and i think you have to be investing. >> you have to be invested. steer clear of the max 7 and towards the consumer discretionary or stall names, like visa and caterpillar. >> that's right.

at this point in time, when you are looking at companies in the market and what has the best opportunity to outperform over the next 12 to 24 months, you have to consider evaluation and macro tailwinds. a company like visa has tremendous macro tailwinds, because of the broad consumer strength not only in the u.s., but we are seeing it around the globe. consumer spending will continue to be strong and visa will benefit from that. they have earnings of 13% and 14% this year. a very consistent grower. caterpillar is more defensive, but they will benefit from increased commodities. electric vehicles gain more traction more and more. as we see the local economic growth coming out of china, a couple of names that are not represented in next 7, but had a really good recent quarter earning results and have a lot of optimism over the next 12 months. >> to go back to this idea of

the rally needing to broaden out further, what will be the catalyst for that to happen? is it rick cutts? is at the dollar weakening, which i know is related or is it something else? >> that is an excellent question. what was on the fourth quarter was when they started to take more of the table and start to pivot, you see the market broaden out. then, it was more okay. we can start buying some names that don't have strong earnings growth opportunity and it may have more of a long-term play in them, because the fed will help us out. that is part of it. once they start cutting rates, it probably won't be until may or june. we will see optimism around the broad market in general and you won't see the people wanting to own the names that have outperformed over the last 12 months and have that strong earnings growth. they will see more demand for a variety of companies and in an environment that we are stockpicking, which will pay

off. >> you would like to see small caps and start to participate more. do you think they will? >> if they don't, that will be a red flag. one of the things going on is we are seeing interest rates rise more than anybody expected. in fact, the big part of the story is lower interest rates. we have seen 3.5% tenure from a variety of places and we think that we know the fed will go three, four or five times. that needs to happen. if it happens, we will see a true recovery rally. in the rally, investors seek more risk, like what i was saying earlier. they want to own more, small caps, emerging markets and more risky parts of the market, which should benefit. that will be the sign that we are in recovery rally and they have a lot of confidence about what's coming up. >> thank you, as always. good to have you here. the treasury department releasing federal government budget numbers for january. in washington with the details.

>> thanks. treasury is out with a new budget data this afternoon and it shows the monthly budget deficit for january came in at $22 billion, which is 42% lower than the same month a year ago. for the fiscal year to date, deficit is rising and it is up 16% from the same period a year ago. taking a look at january, the government's receipt set a record high of $477 billion last month, which is up 7% from the same month last year and it is mostly due to 14% more revenue coming in from corporate taxes. government outlays were up just 3% from last january. interest payments on the public debt, which were up 35% year- over-year. that was offset by a drop in individual refunds, which were elevated last january, because the irs was working at the time through the pandemic backlog. the government's budget just keeps growing for the fiscal year to date both receipts at

1.6 trillion and outlays at $2.1 trillion have set records. >> that is a conversation we have been having and we will continue to have it. treasury and fundings become market moving events that everybody is watching. megan, thank you for joining us with the latest numbers regarding the deficit. coming up, tiktok flip flop. president biden's re-election campaign debuted in an official tiktok account despite the app being banned on most government devices over china's concerns. another platform getting some publicity. temu going all in on super bowl ads. we will explore how they and retailers may benefit from the big game. por ncwi bweluh lle right back.

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campaign creating a tiktok account to reach young voters, but the app is bent on government devices, because of security concerns. let's tackle the topic in today's tech chat. >> i don't know how active you are on tiktok, but i believe we have video that we can show you. this was the biden administration's first post on the platform captioned, lol, hey, guys. it's him answering a series of questions, like does he have -- like games or commercials better? the very generation z tiktok forward. that is amid all of the security concerns in an actual band of tiktok on government devices, because it is thought that tiktok is owned by a chinese company and they have to share their data with the chinese government, so the administration says that they are doing it in a secure way, but it tells you the lengths to which the biden administration is going to reach young voters

and the base on tiktok is 150 million americans and most of them are younger. it may be explains why we have not seen a tiktok band so far despite this being a bipartisan issue. >> it's incredible that we are seeing this, because to your point, it is young folks on tiktok and we know that it is dominating social media and engagement with those folks. we also know that it is potentially a president biden and trump rematch. china is on the docket with both of these presidents or potential presidential candidates, i should say. they are looking to be tough on it, as well. >> there is such a disassociation here. before tiktok, there wasn't a chinese app that was popular in america. tiktok was the first to do so and a lot of users don't really understand that this is the chinese company and potentially shares data with the chinese

government. you can see that in other apps, like temu, as we learned in the super bowl and shein, which have also become popular. i'm not sure if they associate it with china and that is probably what that the biden administration are hoping, as well. they are hoping to reach young viewers while still highlighting the risks of it of being a china hawk to lawmakers and people who do understand the connection. >> thank you very much. reporting on tiktok and associated websites. thank you very much. another chinese company made a big splash during the super bowl, which is temu, which we talked about briefly. while a lot of people are talking about the company and how to pronounce it, the super bowl ads really drive traffic. this is always the question, especially when you see the numbers paying for the ads continuing to take higher. >> temu, just like taylor.

that is an easy way to remember it for me. it is the second year for temu to run the ad in the super bowl game . according to the vice president research, the apps did see a 34% download increase on super bowl sunday, which is the fastest day over day growth since november. this year, temu saw fewer new users download the app on super bowl sunday compared to last year's super bowl sunday when they rent out for the first time. it did show online searches on temu grew 2062% compared to last week, so it looks like a drive of internet traffic. the app downloads grew 63% this super bowl sunday, so the second ad compared to last. a small base and this is according to app. the online searches for elf cosmetics group 52% compared to

last week. mix makeup owned by lori l saw 62% online searches compared to last week. at c search data felt 90% from last week. mountain dew baja blast took the spot of 553% growth over last week. back over to you. >> i saw those temu ads and i knew about temu , but i was rather surprised that they were as frequent in advertising. they had three different ads. >> three in the game and two after. i think it's very interesting. you have this other chinese company that is really taking a lot of our attention here. i know that we just talked about shein and tiktok . it is pretty fascinating and they do stand out. clearly, people are interested in learning more with the app

downloads and online searches. we'll see if it can translate to sales based on what they may or may not reveal to us. >> temu as in taylor. that is a good way to remember it. you know what i'm wondering? if it's not you, i wonder who will get the big interview with taylor and travis. >> can you imagine? that is the big one. i have been wanting to meet an interviewer -- and interview her since she was 15. >> she is good. thanks. further ahead, the nfl has a new super bowl champion. cnbc has a new stock drop champion. wwe charlotte body slamming the competition and she will join us when power lunch returns. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is.

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only at vanguard you're more than just an investor you're an owner. that means your priorities are ours too. our retirement tools and advice can help you leave a legacy for the ones you love. that's the value of ownership. welcome back. stocks breaking record while the bond deals are slightly lower. >> indeed, with tomorrow's cpi

coming out, you can see things going on in the markets that are a bit unusual. let's start over with the c -- cpi core. you can see on this chart that even though we make significant progress, we want to see exactly how much closer to the 2% mark we will get tomorrow. keep in mind, many have been watching and reading all of the fed whisperers advertising about the annualized rates of three months, six months and how they will be substantially lower on these year-over-year numbers tomorrow. it will be important to test and see if the words match numbers that we have benchmark revisions last week. just to point out, if you looked at the actual cpi index, which was not seasonably adjusted, it is an all-time high. the year to date of tenure. you can see both hiring. on friday, every maturity, but 20

year and 30 year bonds close to the fresh 2024 high-yield. we are only down a smidge across the curb. how the markets are so focused on inflation numbers tomorrow and if you look at six sessions of the spread, it is basically a point of -30 the entire run. back to you. >> thank you very much. here is diamondback energy jumping and for nearly $26 billion. a big price there. this continuous consolidation that we see in the permian basin. that is where the action has been. >> yes, the permian basin is where the action has been and a record year for the energy. this year, diamondback endeavor is all about secure net acreage and especially in the permian. endeavor has a portland in the

midland basin permian basin. it is on the west texas portion of the permian, which extends texas to new mexico. drop them off at thomas capital called some of the best real estate and best neighborhood. they have very attractive assets, which is why they are an attractive opportunity. endeavor is private, which is notable, becomes at a time where they have been able to increase output while the public companies have not, because their shelled holders -- shareholders want them to be in check for the private players are about 35% of total u.s. oil output according to braid it is a sizable number and they are a sizable player. >> have the other purchases been of private players? >> they were public. >> some of the others were private? >> was oxley buying crown castle, which was notable. they bought petroleum. there we go.

>> we ask and you shall. >> all of the deals are there. exxon did not have the best acreage, but pioneer did. that is why it was an attractive target. >> and, the biggest >> exactly. not exactly in the permian, but focus on how you can diversify your portfolio and have the best player in each specific region. >> we will see what's left and we know you'll look at it closely. thank you. let's get over to julia for the update. hi, julia. >> former president trump faces a deadline to ask the supreme court to further delay his trial on charges of plotting to overturn the 2020 election. it comes four days after the justices heard a separate trump appeal to stay on the colorado presidential ballot. potential valentine's day strike for ride-sharing drivers from uber and door dash, according to driver advocacy

groups who say that they are striking for fair pay and reviews midday airport rides in 10 u.s. cities. drivers considered independent contractors have long accused the platforms of taking disproportionately high commissions. just in time for valentine's day. cocoa prices are at record highs. that is a headache for hershey, which is warned about weaker provinces. they have doubled over the past year, but bad weather and west africa being blamed for damaging crops. according to the analysts, many people are pulling back on spending. i hope that people are not pulling back too much on chocolate this valentine's day. >> i am just looking at this video and it makes me want some right now. we will see. thank you. >> me, too. san francisco citizens setting a self driving vehicle. a billionaire running tesla ads on the anti-autonomous sentiment is growing.

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welcome back to power lunch. while some companies, including apple are ramping up autonomous driving efforts in california. there is backlash against existing vehicles. this weekend in san francisco, a crowd vandalized a self driving car and set it on fire but it's not the first time that people have attacked a self driving car this incident may show growing public hostility towards them. last night, the safety advocacy group , the dawn project, two super bowl commercials in some major markets. there are dangers of tesla self driving software. they are calling the american public to boycott tesla, following a series of fatal crashes, which we did reach out to tesla for comment, but have not heard back. here is a tech billionaire and founder of the dawn project. welcome. i should point out in the interest of self-disclosure that i am an owner of a tesla vehicle and model y. were

talking about accidents caused by a full self driving software on the autopilot software, which is something less than the full self driving or both? >> both our problems, though our focus has been primarily on the full self driving, which is the modern product. the modern product is obsolete and it comes for free. it is not a great differentiator. really, we have tried ford and gm systems, which are comparable in that regard. the full self driving is the problem where it tries to work on all roads, but it does so poorly. you get in the car, drive for a while and turn on fst and full self driving. after a well, it will do something crazy. it might tell you that it will do the worst thing at the wrong time. it does. it will try to steer in oncoming traffic and crash into something or drive the wrong way on a roundabout. that is something very scary it happens

all the time. >> where is the federal government on this and national transportation safety board and transportation department? where has tesla failed to act? >> ntsb is furious about this. the director said something like, do they not care about how many people have died? they have said that it is completely ridiculous. >> why don't they shut them down? why don't they shut them down? >> ntsb has no power to shut anything done. it is the other agency that has power. ntsb is an investigative organization that looks at crashes, writes reports about why they happen. they have no regulatory and can't shut it down. they have many ongoing investigations and i have heard that the ongoing investigations have made some reports, but have all been mild. >> why don't they asked?

they are not agreeing or just not acting because of bureaucratic inability to act or what? tesla, as i understand it, did a major recall of 2 million plus cards in december to address the deficiencies that you .2. >> if you ask -- they sent a letter asking where they stood on this and if they had reached any conclusions. their answer is always the same. we are in the middle of investigation and we can't comment. when we are done, look at the report armed. we have no idea where they are in the investigation. the recall recently was very mild and part of the key issue is that which we highlighted

one of our super bowl ads is that there has been a number of lawsuits and people have died driving autopilot. tesla has escaped liability and has sued a bunch of times. they have escaped liability by saying, 119 in the manual and says that you can't use this on roads with cross traffic or stoplights or anything. it can only be used on the freeway, but most people did not read the paragraph and don't know that. they use it on things, which are not a freeway and many of them have crashed and died. ntsb, seven years ago and almost eight years ago said, make it so the autopilot cannot engage unless you are on a freeway. they have mapping software and it drives you all around. it knows what a freeway is good it says, i'm not on a freeway and it disables it and it won't turn on. there is reason more people died in 2019. said, again, we told you three years ago to make it, so it will not operate. >> as an owner of one of these

cars and i know you are much more familiar with these cars than i, but my autopilot will not engage on residential streets. that is something different than a limited access freeway. there are lots of roads that go at high speeds that have side traffic coming into them, like florida where the roads are everywhere. mine will not engage on residential streets. >> it will only engage with proper line markers. on a residential street, it won't engage. if you get on a highway with traffic lights or traffic where people go across emma it will engage and run. when it comes to a truck, it is basically stopped or stalled and it will smash into it. that is what is happening. all they have to do is tell it not to turn on unless it's on a freeway. i could write the software in days and fix it if they want me to fix it. they refuse to fix it, not that they don't know about it.

they said no. ntsb have ignored that and that is why people have died. it's a simple solution and trivial fix. just do it. >> it does raise a question. you are also the president and ceo and founder of the software, which some folks have pointed out cells software to tesla competitors, like mobile i why picked a fight with tesla? what is the driving force for you behind it? >> i've never seen software from a big company and substantial company that is this bad. it is terrible. i guarantee you that if you get in a car with me and we go for a drive, at the end, you will tell me, this is terrible. why is this on the boat? have done that with our congressmen and state senators. we have done it with journalists and everybody. it is amazing. it will go past a school bus. the school bus -- the lights

are flashing and the sign is out and kids are getting off the bus and it will just blow by them and will not slow down sometimes. we have shown that it can hit a child. we did a new york times and showing that. >> do have financial stake in all of this? is there a business reason for doing this? >> no, this is just awful software. i started a project about two years ago and it is dedicated to finding and rooting out the bad software that is unreliable and effective running systems that millions of people depend on and not just small systems that we don't care about, like your phone or desktop, but these are self driving cars, like the power grid. big systems that millions of people depend on and some run very bad software. this is the worst that i have seen.

the experimental baseline software will try to kill you and 400,000 consumers and telling them that it will make them safer. it does not make you safer, but it drives like a drunk teenager. that is my best characterization. >> thank you for joining us. still ahead, a new champion has been crowned and you do not mean the chiefs. we are talking about the cnbc draft and we are talking with charlotte flair . do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought

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[garage door opening] (♪♪) [inaudible chatter] [card reader chimes] (♪♪) (♪♪) welcome back to power lunch. after nine months, today is the day that we have a champion in the 2023 cnbc stock draft. we tracked our pics from april until fridays close and the biggest average return is

wrestler charlotte flare of 130% , thanks to huge gains from nvidia and met her. she talks about her victory in the draft and more, to be wa superstar charlotte flair. i have to start by saying, my daughter is your number one fan and she actually asked for me to bring her t-shirt in today, so i could show you that she has it and wears it to school. >> this made my day. we will have to get it signed. >> it's good to have you on the program. congrats on being number one on the stock draft. we are talking about ai. nine months ago, these were still just emerging. why did you decide to pick both names and how do you like them now that they are of triple digits? >> i can't take all of the credit. i have to surround myself with smarter people than myself. ai is here to stay and they are the number one in the market.

with meta, they have matured a lot as a company and not many companies can say that they are providing dividends to their shareholders for the first time and i think it's obvious with how much they have grown. >> of course, we will get the earnings next week, which will be key to watch not just for investors, but for also the market. getting back to your point, it has been a powerhouse in terms of the games, like the s&p 500 and nasdaq. do you follow the markets broadly? what are your thoughts? we do see record highs for stocks. >> honestly, i leave it to steve and linda. i can't take credit, but i think that we see what ai has turned into. with meta , it speaks for itself. >> do you happen to own a portfolio of individual stocks in your name?

are meta and nvidia among the stocks that you own? >> yes, sir. >> you own both stocks? you have not only talked the talk, but walked the walk and put your money to work. >> i have. yes. >> good for you. you are recovering from an injury. how is it going? >> i and six weeks out thursday and ahead of schedule. every day, all i think about is returning back to the ring, especially with the excitement with going to netflix and wrestlemania 40 in philadelphia . all i can think about is getting back and winning that number 15. >> this is a big year, which is the company of the newly emerged wwe and ufc. there has been the recently announced media deal with netflix, which means that the streaming rights will move away from our company starting in

2025, which is a big deal. of course, the rock is joining the board and moving back into wwe. there is a lot of buzz around the event that will be coming up. your thoughts? >> netflix has 250 million subscribers, so it will only make to be wa's content more popular and to be wa has always been revolutionary, whether it is raw, smack down, pay-per- view schedule. the rock is coming back and bringing more eyes to the product. i think sports entertainment is on a rise and it is getting more popular every year. i think netflix will be huge for everyone involved with the to be wa from talent to creative to everyone that works with the programming. i can't wait to see. >> here is a lot of buzz around wrestlemania coming to super bowl weekend, given the event that we saw and the rocks role in all of that.

any sort of preview or thoughts on what we should expect? >> i am looking forward to see how it plays out. i hope that cody, who is supposed to face roman raines and i am looking forward to see his story. with the rock being in the mix and the bloodline, i am interested to see where it goes, especially being the legacy talent and generational talent and having the rock with his family. figure for the company and story line and for everyone . >> will you come back and defend our title in the next stock draft? >> i will come back and win. >> i love it. you will invest in netflix. i don't know. we will figure it out. you are fantastic athlete. just watching what you do. it is really something. clearly, a restrained personality, as well.

>> not so restrained. >> you are really athletic. >> and truly believe in his -- it has what separated me. the women went from being eye candy to superstars from mena venting wrestlemania to stealing the show almost every time. just being out right now injured with everything going on to wrestlemania 40, it is very hard to watch from the sidelines, but it makes me work that much harder. >> makes you want to come back sooner. thank you for being with us and winning the draft. >> thank you for having me. >> you got it. tune in to wrestlemania april 6 and 7. look at that piece of hardware that she will get. look at that. is that lovely? >> it's not a championship or wrestling belt, but it is

pretty nice. >> it is very pretty. see you soon. still ahead, what is the super bowl without ads? we will talk about this year's biggest in today's pre-stock lunch. during february, we celebrate black heritage and here is united airlines president sharing his story. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies.

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welcome back. it's time for today's three- stock lunch. today, we're looking at some of the companies making a splash with their super bowl ads. here with our trades is olm ethridge, cic wealth executive vice president and a cnbc contributor. up first, doordash. it's add, promising to deliver an item from every ad in the game to a sweepstakes winner. malcolm, your trade under a

dash? >> yes. i consider doordash a hold. my big concern here is that they've kind of gotten too far out over their skis by the share price. and really a lot of the positive momentum we've seen 20% year today, is probably based more on cooper's bang up quarter than it is on doordash his ability to continue to grow earnings. >> so let's switch and talk about uber. what do you think there? good quarter? you like the stock? >> i think good is an understatement, tyler. i think their quarter was awesome, and i think one of the things that's less reported there about uber, they confirmed something that the airlines have been telling us about sometime, which is that corporate travel is not on its way back. it's actually back here. and the reason i say that is because they focused a lot on the fact that luxury rides and also black car rides were up substantially. so i really like uber going all the way through the remainder of this year based solely on that corporate travel. >> so they're selling more violence and selling higher priced rides?

a good recipe? >> absolutely. and they also added a significant amount of new drivers to the platform, which is gonna help keep costs low in that lower tier as well. >> all right. finally, square space. -- a lot of alien themes this super bowl commercial season. you put your phone down, pay attention, find the aliens. malcolm, should we be paying attention to the stop? >> yes. i like square space. -- primarily based on the acquisition of google domains last year i think they'll be able to cross cell and bundle additional features to that 10 million new customers that they've required. so from now to maybe september this year, because typically businesses keep their subscriptions for a year not month to month, so it'll take us until about september to get to a year over year tracker. but i think square space is gonna do a great job of selling additional products to all of those customers they just took over from google. >> all right. thank you very much. malcolm ethridge, we appreciate

it. >> coming up, things are looking pretty sunny for jeff bezos. the billionaire moved to miami and just saved millions in taxes. we will share those details when we return. from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. (christina) wanna know the secret ingredient to running my business? ameriprise financial. (tina) her. (christina) being all over, all at once. (tina) all the time. (christina) but my old network wasn't cutting it. and that's not good for baking. or judging. or writing. so, we switched to verizon, the network businesses rely on. with verizon business unlimited, i get 5g, truly unlimited data, and unlimited hotspot data. so, no matter what, i'm running this kitchen. (vo) make the switch. it's your business. it's your verizon.

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a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. we've only got about two minutes left in the program, and one big story you need to know about starting with death jeff bezos has money saving move. -- moving from washington state to florida, robert. >> well, tyler, big story and a big number. so, jeff bezos is selling the first of that 50 million shares that he's gonna be selling over the next year. he sold about two billion dollars worth. and the end, over the next 12 months, he's gonna sell about eight and a half billion dollars worth of shares. so by avoiding that new 7% capital gains tax that they just started in washington state, he is going to save at

least $600 million in taxes. and by the way, that number is based on the amazon share price staying where it is now. if it goes, up that savings will be even more. just to put it in perspective, just attack savings that he gets for moving to miami, he will more than pay for that new 500 million dollar yacht, just with the tax savings. >> he lived in florida long enough to establish state residents there? i am assuming he has. >> yeah, that's the big question i have, tyler. he announced it towards the end of last year. now, i guess, he probably started his official tax residency early, because as you know, you leave new york, california, maybe washington, and the auditors there are not as aggressive. but you typically have to be somewhere, at least a year, to establish the tax residencies. my guess is he already at that earlier by the time he announced that he may have already received that residency. >> all right. we're gonna have to watch this one. i'm curious how much of the sale's gonna go towards blue

origin. speaking of florida and the space coast. robert frank, thanks for joining us. thanks for watching power lunch. i'm gonna see -- we've got big clients happening, 50,000 today, we're talking to michael sailor -- stocks up 9% today. >> thanks for watching, everybody. closing bell starts right now. i, guys thank so much. welcome to closing bell. here at the stock exchange, -- surging stocks. the broadening rally, whether it's a true turning point for your money. we'll ask our experts over this final stretch, and couldn't goldman's head of family office, sarah -- also coming, up and exclusive with -- in the meantime, a scorecard with 60 minutes to go in regulation looks like this. well, we were within a whisker of more milestones, particularly for the nasdaq. that would be -- 57 and