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Olympus Partners Fund VIII raises $3.5 billion, CEO warns of trade war storm

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Olympus Partners has $4 billion to invest after the middle market private equity firm wrapped up fundraising for its latest flagship fund. The firm said Wednesday that its eighth pool came in at $3.5 billion, and jumped to $4 billion with the inclusion of coinvestments from its LPs and expected reinvestments, according to a March 26 letter to Olympus investors. Olympus had set a $4 billion hard cap for Fund VIII, the maximum the fund was permitted to raise from investors.

Olympus spent roughly a year marketing for its eighth pool, which raised 15% more than its prior fund. Olympus Growth Fund VII collected $3.04 billion in late 2017.

Earlier this month, Fortune reported that Olympus fund VIII had raised $2.87 billion.

Olympus is the PE firm from Chairman and CEO Rob Morris, who is also its founder. The firm invests in business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing. Since launching in 1988, Olympus has raised $12 billion in capital. The firm has also returned $6 billion to investors over the past three years, including $3 billion in 2024, Fortune has reported.

Morris, in the letter, discussed the tariff-driven policy of the Trump administration, which has caused rampant stock market volatility, and fears of a recession. Morris said private equity managers should do their best to avoid the “incoming missiles” of tariffs. For businesses with a supply chain heavily dependent on tariff targets, he advised diversifying to safer geographies or pursuing tariff exempted alternatives. “There are many other tactical moves, but no foolproof plan to completely avoid the economic storm a trade war could ignite,” Morris wrote in the letter.

Fund VIII began investing in January and has so far completed two transactions. In January, Olympus acquired Accelevation, a provider of infrastructure products and services to the data center market, for $455 million. The PE firm also scooped up generic drug maker PAI Pharma for $605 million in February.  The deals were “the fastest Olympus has purchased two investments at the advent of a Fund,” according to the letter.

This story was originally featured on Fortune.com



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Overnight multimillionaire and Beast Games winner says MrBeast taught him when it’s okay to lose millions on your passion project

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  • MrBeast lost “tens of millions” of dollars producing Beast Games—his Amazon Prime TV show. The game’s winner, who took home $10 million, says MrBeast’s dedication is inspiring.

YouTube star MrBeast, whose real name is Jimmy Donaldson, spent over $100 million producing his competitive reality TV show Beast Games. And even though the show was a viewership hit—and won 44 Guinness world records—it was a major financial setback, with losses totaling upwards of “tens of millions” of dollars. 

However, Donaldson has no regrets, he admits to The Diary of a CEO. While that mindset could be considered financially reckless, others view it as inspiring, including the show’s $10 million grand prize winner, Jeff Allen.

“He continues to invest into his product,” Allen tells Fortune

“And even if you hear him talk about Beast Games—on paper, he was in the red on Beast Games because he continued to invest into it, but I think long term, he understands that he’s going to continue to grow his audience and he’s probably broadened his audience (from) having a silver haired guy like me on,” he adds.

BeastGames was “not a good financial decision,” but MrBeast wanted to send a message 

Between giving away $22 million to contestants and building two of the show’s many sets, MrBeast spent at least $50 million alone, he tells The Diary of a CEO’s Steven Bartlett. The show’s exact total, he admits, is a number he’s been advised not to disclose—but is “of course” over $100 million.

“It was not a good financial decision to make Beast Games,” Donaldson adds. “I lost money. I would have more money if I didn’t film it.”

But despite having a sky-high budget, Donaldson says it was still a challenge to pull off.

“Money isn’t everything—building and managing it is infinitely harder,” he says. 

MrBeast has over 378 million subscribers on YouTube—the most of any channel—and routinely gets over 200 million views on his videos. Still, he says, big streaming companies were skeptical about his ability to create a worthwhile show for television. 

“I’m not a TikToker that dances—I have a production company; I routinely make spectacles, and even me—these streaming platforms weren’t taking serious,” he says.

For this reason, he tells the podcast that making Beast Games was not about the money—it was about creating eyebrow-raising entertainment that would send a message to streaming platforms that working with YouTubers is a smart move.

And it very well might have worked. 

BeastGames accumulated over 700 million viewing minutes across its first three episodes in December, according to Nielsen. In total, the 10-episode series made Amazon at least $100 million in profit, according to the Wall Street Journal—and they are negotiating a deal for the second and third series of the show. 

Now, other YouTubers are having their doors open left and right, Donaldson says. The WSJ reports that Netflix, NBC’s Peacock, and Disney are all looking to enhance their relationships with creators.

YouTube star Rachel Accurso—known commonly as Ms. Rachel—signed a deal with Netflix earlier this year to develop a four-episode series designed for toddlers, and the show has maintained a top spot on its most-watched shows in the U.S.

MrBeast’s relentless work ethic fuels his success

Donaldson’s multi-million dollar empire wasn’t built overnight; in fact, he spends nearly every waking hour focused on his next film project. Allen, who spent weeks with Donaldson while filming season one of Beast Games, says the star has a camera around him eight hours a day for at least 28 days a month.

“There’s a reason why he’s number one in the world at what he does,” Allen tells Fortune. “But the crazy thing is, he loves it; there wasn’t a part where he looked tired of it or ready to go home. He was always ready to answer the bell and deliver.”

Allen plans to spend most of his prize money finding a cure for his son Lucas’s rare brain disease and says that no matter the project, having clear values is the most important thing to keep in mind.

“I’m an older guy, and I think one of the blessings of Lucas is he gave me the ultimate gift of perspective and what was important,” Allen tells Fortune. “Find the beauty and the bumps, and when you’re blessed with something like a windfall, or if you’re going through challenges, you don’t have to do it alone.” 

This story was originally featured on Fortune.com



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Gen Z are terrified of layoffs and the spiraling economy—so they’re copying Steve Jobs and showing up to the office in uniforms

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  • Getting fired for dressing inappropriately is so 2024. Now, Gen Z and young millennial workers are ditching the crop tops and “office siren” looks in exchange for a Steve Jobs-style daily uniform—but experts say it won’t make anxious employees any more productive.

It’s not just Apple’s Steve Jobs who liked to wear the same outfit on repeat. Now, Gen Z and young millennials are getting in on the productivity hack. 

Over on TikTok, @corporateagonyaunt shows off the grey- and black-hued outfits that made up her winter “work uniform rotation.” Of course, it’s not an actual uniform that her boss has consigned her to wear. 

Instead, she shares: “I have no time for decision fatigue and the destruction it causes.” So the U.K.-based commercial rotates a small collection of work outfits, consisting mostly of jeans, a black blazer, and a long coat.

Others are being even more restrictive: “So I wear the same exact outfit every single day to work. Yes, it’s really Steve Jobs-coded,” a 28-year-old who goes by @metzcampos agrees on the video platform. 

“The crazy part is, no one cares, as long as I’m not showing up to the office with bad hygiene and the clothes that I have are clean and I’m presentable, nothing else really matters.” 

Others have created their own “Steve Jobs look”—a reliable uniform to turn to, not every day, but on those mornings where you’re in a rush to get to work and feel too overwhelmed to string something smart together. 

“I recently saw a TikTok about finding your Steve Jobs outfit, and I realized, Wait, I have one. I live, breathe, die in Oxford shirts,” @bykwezi echoes. 

And it’s not just for work. The young influencer and fashion designer says she wears her trademark Oxford shirt to everything: If I’ve got a meeting, it’s an Oxford shirt. If I’m going to the airport, it’s an Oxford shirt and some joggers. If I’m going on a night out, it’s an Oxford shirt and a mini skirt. “

Likewise, towards the end of last year, a photo of nearly identically dressed Gen Z women on a night out went viral. 

“When did all the girls start dressing exactly alike?,” a millennial New Yorker took to TikTok earlier this week to ask her followers. “It’s giving uniform. Last night, I was sitting at a bar, and I saw 10 girls, a gaggle of girls walking together, and they looked identical… What’s going on? Have people not heard of personal style?”

Gen Z’s work attire revolution

Work attire has been a hot topic ever since Gen Zers joined the workplace during the pandemic; they were onboarded on Zoom and worked from the sofa in sweatpants, before having to navigate the complexities of in-person working sans any prior experience. 

“We’ve seen the younger generation express some level of confusion about what to wear for work, so a uniform can seem more simple, more streamlined, and less risky in an environment that might feel new and unfamiliar,” Eloise Skinner, author, psychotherapist and founder of The Purpose Workshop tells Fortune

“This might especially be the case for a generation that missed out on early in-office work experience opportunities due to the pandemic’s impact on working from home, and who might only be spending a few days in the office every week.”

Unlike the assumption that an entire generation has lost their sense of personal style, the “uniform” trend which started to come to the fore last year, comes swiftly after being accused of not knowing how the dress for work.

Whether it’s wearing the same safe outfit as their peers or sticking to a Steve Jobs daily uniform, is it really a surprise that the generation would rather err on the side of caution? Last year, a staggering six in 10 employers admitted to firing Gen Z workers just months after hiring them—the bosses in question cited young workers’ inappropriate fashion choices as one of the key reasons for their sacking. 

“With layoff fears and economic uncertainty looming, it’s not uncommon for individuals to gravitate toward structure and routine for comfort,” Amanda Augustine, a certified career coach at the careers platform, resume.io explains to Fortune

“By developing a consistent morning routine—including a standard “work uniform”—young professionals are finding ways to feel more in control of their careers, even when other elements may feel uncertain.”

Essentially, Gen Z’s uniform is deeper than a fashion trend—it’s a desperate attempt to feel secure in the current climate where inflation is still stubborn, a recession is on the cards, job openings and salary hikes have dried up, the house market is exceedingly out of reach, and there’s a constant fear of being laid off

Even American Eagle Outfitters CEO Jay Schottenstein has taken stock that Gen Zers are becoming increasingly risk adverse in their shopping choices because of economic anxiety.

“Not just tariffs, not just inflation,” Schottenstein noted earlier this month. “We see the government cutting people off. They don’t know how that’s going to affect them. And when people don’t know what they don’t know—they get very conservative.”

Plus, work uniforms kill decision fatigue

Despite being often named as the inspiration behind the fashion trend, it’s not just Steve Jobs that liked consistency. CEOs love their routines—and their affinity for daily rituals goes well beyond their outfit choices. 

On a recent episode of Table Manners With Jessie and Lennie Ware, Apple CEO Tim Cook revealed that he follows a strict schedule, including waking up around 5 a.m. each day, before eating lunch and dinner at the same cafeteria.  “I typically go for the fish,” he said.

Brian Niccol, former CEO of Chipotle and current CEO of Starbucks, told Fortune that he wakes up around 5:45 in the morning, has a cup of coffee and a cookie, works out around 7 a.m., has a shake or eggs and sausage before work each morning. 

“I look to build a lot of consistent routines,” Jack Dorsey, CEO of Block and cofounder of Twitter, echoed back in 2015. “Same thing every day,” he added, explaining his days start at 5 a.m. and end at 11 p.m. and involve regular meditation, a strict workout schedule, and a five-mile walk to work. 

Now, young new hires are catching on and reaping the benefits. As @selfpaidjade explained on TikTok, she’s “been living in matching sets” since she learned how it helps global leaders save brain space. “Decision fatigue is the idea that every decision we make takes mental energy, so reducing trivial choices (like what to wear) conserves it for critical tasks.” 

Unlike many of the productivity hacks you can find on social media, this one isn’t a gimmick—experts told Fortune that finding a work uniform really does help conserve brain power for more important decisions later in the day.

“Making seemingly small changes to your work routine—like establishing a standard work uniform—can lead to significant gains in brain space over time,” Augustine says, adding that the more trivial decisions you can cut from your life, the less mental energy you’ll waste. 

“Eliminating small, repetitive choices reduces mental and emotional strain, which in turn leads to greater focus, increased productivity, and better decision-making throughout the workday.”

But, one expert warns the hack won’t work for people who are stressed about their appearance—rather than the time it takes to find something to wear.

“In my experience, some people are anxious and worry obsessively about their appearance, and others simply do not,” Dr Claire Taylor, head of the Nottingham Business School human resources management department, says. 

For people with low self-esteem, she adds, “having a uniform or simple dress code for work may make little difference.” Essentially, you’ll likely still waste brain space worrying about how you look in your “Steve Jobs look”.

This story was originally featured on Fortune.com



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Trump says auto tariffs are permanent and doesn’t care if they cause carmakers to hike prices — ‘I hope they raise their prices’

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  • President Donald Trump shrugged off concerns that his auto tariffs will cause carmakers to raise prices, saying he couldn’t care less if they do. In an interview with NBC News, he added that, “I hope they raise their prices, because if they do, people are gonna buy American-made cars.” But even cars assembled in the US have foreign-made parts.

President Donald Trump said his new auto tariffs are permanent and shrugged off concerns that they will cause carmakers to raise prices.

In an interview with NBC News on Saturday, he was asked about a recent Wall Street Journal report that said he warned auto CEOs not to hike prices while discussing tariffs with them.

“No, I never said that. I couldn’t care less if they raise prices, because people are going to start buying American-made cars,” Trump replied.

He added, “I couldn’t care less. I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty.”

Trump later said if prices on foreign cars go up, then consumers will buy American cars.

He also confirmed the tariffs are here to stay, saying, “Absolutely, they’re permanent, sure. The world has been ripping off the United States for the last 40 years and more. And all we’re doing is being fair, and frankly, I’m being very generous.”

Foreign-made auto parts would also be hit with a 25% tariff, but vehicles and parts imported under the US-Mexico-Canada Agreement trade deal will not see duties until the government establishes a process for imposing them, the White House has said.

US and foreign automakers have closely integrated supply chains that span North America. During the manufacturing process, cars and parts can cross between the US, Mexico and Canada multiple times.

Wedbush Securities analyst Dan Ives has estimated that cars could go up by $5,000 to $10,000 because of the auto tariffs, depending on whether a vehicle is a mass-market or premium brand.

“Every automaker in the world will have to raise prices in some form selling into the U.S., and the supply-chain logistics of this tariff announcement heard around the world is hard to even put our arms around at this moment,” he wrote in a research note on Friday.

While the White House has said tariffs are meant to revitalize the US industrial base, Ives is skeptical that car manufacturing can be completely reshored.

That’s because even cars built in America come equipped with foreign-made parts and components that constitute 40% to 50% of their value. 

“A U.S. car with all U.S. parts made in the U.S. is a fictional tale not even possible today,” he added.

This story was originally featured on Fortune.com



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