Travel is still on, but rising costs reshape summer vacation plans Memorial Day, traditionally a key indicator for summer travel activity, is seeing a shift this year as higher gas prices and airfares disrupt traditional vacation planning. AAA Travel’s vice president, Stacey Barber, told Yahoo Finance that demand for travel remains strong, emphasizing that Memorial Day weekend getaways are a cherished tradition for many Americans. The organization projects 45 million people will travel at least 50 miles from home during the Memorial Day holiday, which runs from Thursday, May 21, to Monday, May 25. This marks a new record, surpassing last year’s 44.8 million travelers. Road trips are expected to dominate, with 39.1 million people planning to travel by car, a slight increase from last year. Barber noted that even with surging gas prices—now averaging $4.53 per gallon, up from $3.19 in 2025—driving remains the more affordable option for most travelers, accounting for 87% of trips. Air travel is also on the rise, though the growth is tempered by earlier bookings. AAA estimates 3.66 million travelers will take domestic flights over the weekend, a modest increase from last year. However, many of these trips were booked before jet fuel prices began to significantly impact airfares. The broader trend reflects a split in travel behavior across income groups. According to the Bank of America Institute’s summer travel outlook, nearly 40% of lower-income households—those earning $66,000 or less—plan to forgo summer travel altogether. Their travel spending has declined year over year, as funds are redirected to cover higher costs for gas and groceries. Brian Sozzi of Yahoo Finance highlighted that “money earmarked for summer travel is now being used for essentials.#yahoo_finance #memorial_day #stacey_barber #bank_of_america_institute #gene_sloan
Gates Foundation's $86 Billion Portfolio Heavily Concentrated in Berkshire Hathaway The Bill & Melinda Gates Foundation, the charitable organization founded by Microsoft co-founder Bill Gates, manages a portfolio valued at $86 billion. According to a report from Yahoo Finance, the foundation’s equity holdings are heavily concentrated, with 96% of its portfolio’s value tied to its ten largest investments. A single stock accounts for 28% of the entire portfolio, but this is not Microsoft, the company Gates co-founded. Instead, the dominant position is held by Berkshire Hathaway (BRK.B), the conglomerate led by Warren Buffett. As of the end of 2025, the foundation owned approximately 19.4 million Berkshire Hathaway Class B shares, valued at around $9.8 billion. Other significant holdings include Waste Management (WM) and Canadian National Railway (CNI). Microsoft (MSFT) is the fourth-largest holding, representing a 10.5% allocation. The foundation’s investment in Berkshire Hathaway stems from annual charitable donations made by Buffett over decades. From 2006 to 2024, Buffett donated a total of $43.3 billion in Berkshire stock to the foundation. The foundation’s current $9.8 billion stake in Berkshire is lower than the cumulative donation because shares are sold over time to fund philanthropic activities. For example, in the final quarter of 2025, the foundation sold 2.36 million Berkshire shares, generating over $1 billion. This strategy aligns with Buffett’s intent to support charitable causes while managing the foundation’s financial resources. The foundation has deployed more than $102 billion in total philanthropy since its inception, reflecting its long-term commitment to global initiatives.#microsoft #berkshire_hathaway #warren_buffett #bill_melinda_gates_foundation #yahoo_finance
