balita.news

By Kevin Galang

GUIGUINTO, Bulacan—Authorities arrested two men and seized more than P1 million worth of suspected shabu and a firearm during a buy-bust operation in Barangay Tabang, Guiguinto, Bulacan, police said.

The suspects, identified only as “Bude,” 41, of Barangay Sta. Rita, Guiguinto, and “Tsong,” 44, of Barangay Sapang, San Miguel, were taken into custody, according to a report from the Bulacan police submitted to Police Regional Office 3 Director Brig. Gen. Jean Fajardo.

The Guiguinto police’s Station Drug Enforcement Unit conducted the entrapment operation, which led to the confiscation of approximately 185.8 grams of suspected shabu valued at P1,293,300, along with a .38-caliber revolver loaded with three live rounds.

The suspects face charges for violating the Comprehensive Dangerous Drugs Act of 2002 and the Comprehensive Law on Firearms and Ammunition Regulation Act.

NEW YORK – The world’s wealthiest tech billionaires saw a collective $67.3 billion wiped from their fortunes in a single day, led by Tesla CEO Elon Musk, whose net worth fell by $29 billion to $301 billion, according to the Bloomberg Billionaires Index.

Amazon founder Jeff Bezos lost $4.21 billion, while Meta CEO Mark Zuckerberg saw his fortune shrink by $9.46 billion. Oracle founder Larry Ellison’s wealth declined by $7.26 billion, and Alphabet co-founders Larry Page and Sergey Brin lost $6.16 billion and $5.73 billion, respectively. Microsoft co-founder Bill Gates and former CEO Steve Ballmer suffered losses of $1.10 billion and $4.17 billion.

The sell-off came as Tesla shares plunged 15.44%, with other tech giants, including Apple and NVIDIA, falling 5.91% and 6.74%, respectively. The Invesco QQQ Trust, which tracks the tech-heavy Nasdaq-100, entered correction territory, dropping more than 10% from recent highs.

Amid the turmoil, Berkshire Hathaway CEO Warren Buffett stood out, gaining $607 million. Berkshire, which recently reported a record $334 billion cash stockpile, has been a net seller of stocks for nine consecutive quarters, citing high valuations. Buffett has also trimmed Berkshire’s Apple stake and halted stock buybacks.

Market concerns were further fueled by fears of a potential recession and proposed tariff policies by former U.S. President Donald Trump. Goldman Sachs warned that a 5% tariff increase could reduce corporate earnings by 1-2% and trigger a 5% drop in the S&P 500.

Despite recent declines, several tech billionaires still hold significant year-to-date gains, with Zuckerberg up $4.12 billion in 2025. Meanwhile, Tesla’s valuation remains elevated at more than 100 times earnings, even after losing half its value since December highs.