Imagine a company so powerful it quietly owns nearly every share of every stock traded in America—$87 trillion worth. Now imagine it was founded by a CIA agent, is run by Wall Street’s biggest players, and is barely mentioned in the news. Welcome to the world of the Depository Trust & Clearing Corporation (DTCC)—the financial black box that may secretly control your retirement, your investments, and the entire U.S. stock market.

The Secret Company at the Heart of Wall Street

Most people have never heard of the DTCC, yet it sits at the very center of the global financial system. This company, controlled by the world’s largest banks, holds custody of almost every share of stock in the United States—over $87 trillion worth. Even more staggering, in 2024 alone, it processed $3.8 quadrillion in trades. That’s not a typo: quadrillion, with a “q.”

To put that in perspective: if you stacked $100 bills to represent $1 trillion, you’d get a skyscraper 43 stories tall, packed wall-to-wall with cash. The DTCC moves the equivalent of two of those skyscrapers—every single day.

The CIA Connection: Spies, Students, and Stocks

The DTCC’s origins are as shadowy as its operations. It all starts with William Denzer, a man whose career reads like a spy novel. Born at the start of the Great Depression, Denzer became deeply involved with the National Student Association (NSA)—not the one you’re thinking of, but a CIA-funded organization designed to influence student movements during the Cold War.

After years of covert work, Denzer was recruited directly into the CIA, serving five years before moving on to roles at USAID (another agency with a long history of intelligence work) and eventually, the banking sector. With powerful friends like Nelson Rockefeller, Denzer became New York State’s top banking regulator just as Wall Street was drowning in paper stock certificates and chaos.

From Paper Chaos to Digital Domination

In the late 1960s, Wall Street’s back offices were buried in paperwork. Trades were made with slips of paper, and the system was so overwhelmed that shares often failed to be delivered at all. The solution? Digitize everything. But instead of giving investors direct ownership, all stocks would be held by a single central corporation—what became the DTCC. Investors would only have “beneficial ownership,” a claim on the stocks, while the DTCC held the real thing.

Denzer, with his intelligence background and banking connections, became the DTCC’s first chairman and CEO. Under his watch, the DTCC grew into a private corporation (not a government agency) regulated by the SEC and Federal Reserve—but ultimately run by the banks themselves.

The Big Club: Who Really Runs the DTCC?

Look at the DTCC’s board of directors and you’ll see a who’s-who of the financial world: JP Morgan, Citadel Securities, Goldman Sachs, Citi, TD, HSBC, BNY Mellon, and even major oil companies. Regulators like the SEC and FINRA have seats at the table, too. It’s a cozy club of insiders, lobbyists, and power brokers. And you’re not in it.

Why Should You Care?

If you own stocks—through a brokerage, a retirement account, or even a 401(k)—the DTCC technically owns them, not you. Your “ownership” is just an entry in their digital ledger. This system, designed for efficiency, also means that if something goes wrong at the DTCC, trillions of dollars in assets could be at risk.

The DTCC’s reach goes beyond stocks. It sits on $72 trillion in mortgage-backed securities—the same kind of financial products that triggered the 2008 global financial crisis. And when trading frenzies like the 2021 GameStop squeeze happen, the DTCC is the invisible hand making sure the system doesn’t collapse (or, depending on your view, protecting the big players from losses).

The Conspiracy Angle: Spooks, Scandals, and Secrets

The DTCC’s CIA-linked founder, its secretive structure, and its central role in the financial system have made it a favorite topic for conspiracy theorists. With historic ties to intelligence operations, blackmail scandals, and government cutouts, it’s easy to see why. Whether you believe the DTCC is just a well-oiled machine or something more sinister, one thing is clear: it’s one of the most powerful organizations you’ve never heard of.

Final Thoughts

Should one company—run by bankers and ex-spooks—have this much control over the world’s wealth? Why is so little public attention paid to the DTCC, when it holds the keys to the entire stock market? And if the next financial crisis hits, will we even know what’s happening behind the curtain?

The next time you check your portfolio, remember: the real owner of your stocks might not be you. It’s the $87 trillion secret hiding in plain sight.

What do you think? Should we trust the DTCC with this much power? Drop your thoughts below—because this is one club that affects us all, whether we know it or not.

Hailey Bieber has achieved a major milestone in the beauty industry, finalizing a $1 billion deal to sell her skincare brand, Rhode, to e.l.f. Beauty. The acquisition, announced on May 28, 2025, marks one of the largest celebrity beauty buyouts in recent memory and cements Bieber’s place among the most successful beauty entrepreneurs of her generation.

The Deal: Structure and Impact

The agreement will see e.l.f. Beauty pay up to $1 billion for Rhode, including $600 million in cash upfront and $200 million in e.l.f. Beauty shares. An additional $200 million could be paid out over the next three years if Rhode meets specific performance targets. While Bieber co-founded Rhode with Lauren and Michael D. Ratner and shares ownership with other investors, her personal earnings from the deal are estimated in the nine-figure range, potentially raising her net worth to around $300 million.

Rhode’s Meteoric Rise

Launched in 2022, Rhode quickly became a powerhouse in the skincare sector, known for its minimalist branding and focus on essential, everyday products. In just three years, the brand achieved the No. 1 spot in Earned Media Value for skincare in 2024, boasting 367% year-over-year growth. Bieber credits her willingness to embrace mistakes and learn from early challenges as key to Rhode’s rapid success.

Bieber’s Role Moving Forward

Despite the sale, Bieber is not stepping away from the brand. She will continue as Rhode’s Chief Creative Officer and Head of Innovation, overseeing product development and marketing while also serving as a strategic advisor to e.l.f. Beauty. Bieber expressed excitement about the partnership, stating, “From day one, my vision for Rhode has been to make essential skin care and hybrid makeup you can use every day… Our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally”.

Industry Impact and Celebrity Beauty Boom

Bieber’s deal places her among a select group of celebrities—like Rihanna, Selena Gomez, and Kylie Jenner—who have built beauty brands valued in the hundreds of millions or more. Fewer than 30 individuals in the U.S. and Europe have amassed fortunes of $380 million or more in the beauty sector, making this acquisition a standout moment in the industry.

Celebrating the Milestone

Bieber marked the occasion with a celebratory dinner in Los Angeles, donning a black mini dress and exuding the understated glamour now associated with billionaire beauty moguls. Her husband, Justin Bieber, quietly celebrated her achievement, underscoring the support behind her entrepreneurial journey.

“When I launched @rhode in 2022, I always had big dreams for the company, and the most important thing to me is to keep bringing rhode to more spaces, places, and faces globally. So today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we step into this next chapter in the world of rhode.”
— Hailey Bieber

What’s Next?

With the backing of e.l.f. Beauty, Rhode is poised for global expansion. Bieber’s continued leadership ensures that her vision and creative direction will remain central as the brand enters its next phase, promising more innovation and a broader international presence.

Hailey Bieber’s billion-dollar Rhode deal is not just a personal triumph—it’s a testament to the power of celebrity entrepreneurship and the enduring appeal of innovative, accessible beauty brands.

The newly passed Trump tax bill is making headlines for introducing some of the most significant tax breaks and policy changes in years. Whether you’re a worker, parent, homeowner, or business owner, there’s a good chance something in this bill will impact your finances. Here’s a clear, detailed breakdown of what’s inside, who benefits, and what you need to know.

1. No Tax on Tips (With Restrictions)

Who Benefits: Workers in industries where tipping is customary (servers, bartenders, hair stylists, taxi drivers).

Key Details:

• Eligibility: Must work in a tipping industry, earn less than $150,000/year, and tips must be paid voluntarily (not as a service charge).
• Cash Only: Only cash tips are eligible (though there’s some debate if credit card tips count).
• Cap: Maximum of $25,000 in tax-free tips per year.

Fine Print:
This change won’t apply to office workers or high earners. For many, the main benefit is being able to report cash tips for things like loan approval, without paying extra tax.

2. No Tax on Overtime Pay

Who Benefits: Employees earning less than $150,000/year who work more than 40 hours a week.

Key Details:

• Deduction: You can deduct the full amount of your overtime pay from your taxable income, making it effectively tax-free.
• Time Frame: Applies to income earned from 2025 to 2028.
• Note: Only a small percentage of workers regularly receive overtime, but for those who do, the savings could be substantial.

3. $40,000 State and Local Tax (SALT) Deduction

Who Benefits: Taxpayers in high-tax states who itemize deductions.

Key Details:

• New Cap: Raises the SALT deduction limit from $10,000 to $40,000.
• Income Limit: Only for those with adjusted gross income under $500,000.
• Must Itemize: You’ll need to itemize deductions instead of taking the standard deduction ($30,000 for most).

Fine Print:
This mostly helps people in states like California, New York, and New Jersey. If your state/local/property taxes are high, this could mean thousands in savings.

4. Deduct Interest on Personal Car Loans

Who Benefits: Buyers of American-made vehicles with loans.

Key Details:

• Deduction: Up to $10,000 in interest paid on a personal car loan can be deducted each year (2025–2028).
• Income Phase-Out: Deduction phases out for singles earning over $100,000 and married couples over $200,000, disappearing entirely at $150,000/$300,000.
• Car Must Be Made in the USA.

Caution:
Don’t take out a bigger loan just for the deduction—only buy what you can afford!

5. $1,000 “Trump Account” for Newborns

Who Benefits: Children born in the U.S. from 2025–2028.

Key Details:

• One-Time Credit: $1,000 per eligible child, deposited into a special account.
• Investment Growth: Money can be invested and used for education, a first home, or starting a business—taxed at favorable rates.
• Unused Funds: If not used by age 31, the account is cashed out and taxed as regular income.

6. Clean Vehicle and Energy Credits Ending

Key Details:

• The $7,500 electric vehicle tax credit and other clean energy incentives will end by 2026.
• If you want these rebates, act fast before they’re gone!

7. Extension of 2018 Tax Cuts and Jobs Act

Who Benefits: Business owners, high earners, and estates.

Key Details:

• Top Tax Bracket: Remains at 37% (was set to rise).
• Business Deductions: 20% pass-through deduction and 100% bonus depreciation for business investments extended.
• Estate Tax: Higher exemption amount continues.

8. Social Security Income Relief

Who Benefits: Retirees collecting Social Security.

Key Details:

• Extra Deduction: $4,000 added to the standard deduction for those on Social Security (phases out above $75,000 single/$150,000 married).
• Not All Income Tax-Free: This shields some, but not all, Social Security income from taxes.

What Does This Mean for You?

• Workers: More take-home pay if you earn tips or overtime.
• Families: $1,000 for each new child, plus potential savings if you itemize deductions.
• Car Buyers: Big deduction if you buy American-made and finance your car.
• Homeowners in High-Tax States: Major relief on state/local taxes.
• Business Owners: Continued access to significant tax breaks.
• Retirees: Extra deduction for Social Security recipients.

Share This!

If you found this breakdown helpful, share it with friends and family—these changes could mean thousands of dollars in savings for millions of Americans. Stay tuned for updates as the bill is implemented and more details emerge!

Have questions about how these changes affect you? Ask below!