Vemma reached a $238M settlement with the Federal Trade Commission over its pyramid scheme-style recruitment tactics that targeted college boys to sell energy drinks in the early 2010s.

Multilevel marketing companies are direct sales companies with a pyramid-shaped hierarchy resulting from recruitment, but they aren't legally considered pyramid schemes because revenue is driven by product sales rather than recruitment fees.

The history and success of the mysterious Mars Inc.

Mars, Incorporated manufactures some of the world’s favorite treats, including M&M’s, Snickers, and Milky Way bars. Despite their success, you’ve probably not heard of them. The privately held company is largely unknown to the world despite being owned by the second-richest family in the US. This podcast discusses the mysterious Mars family and their remarkable entrepreneurial feat. Listen to uncover more.

Watch an insider break down how multilevel marketing companies operate—from recruitment to retention.

American Express intentionally targets wealthy cardholders, who spend higher amounts per transaction and tend to make more transactions than the average cardholder, thereby reducing the company's risk.

WellHub is a startup serving roughly 4 million people in 11 countries, providing broad wellness benefits to employees

Valued at $2.4B in 2025, the company helps workers get gym access and meditation apps, in addition to basic healthcare. Listen to the founder of the company, Cesar Cevalho, explain how he scaled the company with Jeff Berman.

Advertising powerhouse Mary Wells Lawrence became the first female CEO of a public company listed on the NYSE when her ad agency went public in 1968.

Former LuLaRoe vendors have accused the clothing multilevel marketing company of operating a pyramid scheme, resulting in more than 50 lawsuits and a $4.75M settlement.

Supplement sales soared during the pandemic, alongside growing distrust of the health establishment, amplifying a trend that endures—even when some of the products don't even work.

Two of American Express' co-founders also founded Wells Fargo

Henry Wells and William Fargo formed Wells, Fargo & Co. two years after American Express was created. Wells and Fargo saw an opportunity to expand the express delivery service from the East Coast and Middle America to the West Coast. The two initially asked the American Express board to expand operations, but the board declined, so they decided to create their own company. Today, Wells Fargo is among the top four largest banks in the US.

See Walt Disney's corporate strategy document from 1957, complete with a plethora of Mickey Mouse illustrations.

John D. Rockefeller’s father had a nefarious past

William A. Rockefeller Sr. earned his money via various schemes that included pretending to be a doctor to sell “herbal medicines” and posing as a deaf person to peddle for money.

America’s richest families

You could probably name a few of America's richest people, like Elon Musk or Mark Zuckerberg, for instance. But could you name the richest families in America, like the Waltons or the Mars family? Explore the list of 2024's richest families in America—and find out how they made their money—here.

Soybean oil fraud almost decimated American Express in 1963

A New York commodities trader who had defrauded the American government over uninspected meat for school lunches, Anthony "Tino" De Angelis, used American Express warehouses to sell soybean oil. However, Angelis had actually filled the tanks with water and placed just enough soybean oil on top of the tanks to pass inspection. American Express was liable for many of the tanks and its stock faced a huge downturn, opening the door for a then 33-year-old Warren Buffett to make his first purchase in the company.

How one supplement company cost a short seller $1B

Pershing Square, a hedge fund founded and run by Bill Ackman, put short positions on Herbalife in 2012, because it believed the company was a pyramid scheme. Ackman's longtime rival and legendary investor Carl Icahn began buying Herbalife shares, causing the stock price to rise—ultimately hurting Pershing Square's short position.

Amazon's success is attributable, in large part, to founder Jeff Bezos’ vision

Bezos parlayed a career on Wall Street into founding an online bookstore that would evolve into the largest online retailer in the world. Bezos’ story is characterized by his relentless focus on innovation and on the customer experience at Amazon.

Amazon founder and billionaire Jeff Bezos' wealth primarily stems from his Amazon ownership stake.

How the Rockefellers' wealth evolved over time

The Rockefellers built one of the most powerful business empires in US history. By the early 1900s, their company, Standard Oil, controlled over 90% of the US oil market.

In 2025, American Express paid $230M to settle fraud and deceptive marketing charges

American Express launched a wire payment service targeted at small businesses and falsely touted the service as a tax-deductible business expense in 2018. American Express was also accused of allowing small businesses to open corporate credit cards without the necessary employer identification number (EIN).

See a timeline of American Express' history

Since its founding in 1850, American Express has evolved from a mail delivery service to a multinational financial services company. Small additions to the company over time, such as taking money orders and inventing traveler's cheques, were key drivers of the company's transformation.

All the products Mukesh Ambani owns in India

The richest person in Asia, Mukesh Ambani, owns dozens of companies in India as part of the conglomerate he inherited from his father and expanded via acquisitions and partnerships. From smartphones and news portals to logistics and video streaming,...

Amazon expanded its business and diversified its offerings by acquiring companies

Amazon’s retail and cloud businesses have been key drivers of the company’s growth over the years, but they haven’t done all the work by themselves. Companies Amazon has acquired include the video doorbell maker Ring, the grocer Whole Foods, the streaming service Twitch, the shoe retailer Zappos, and the film studio MGM.

Amazon operates a 'flywheel' business model

Central to any understanding of the multifaceted nature of Amazon's business today is the concept of the "flywheel" at the heart of the company. Put simply, it's an idea that refers to a self-reinforcing cycle that drives the continuous growth of Amazon's various businesses, including its retail arm, its Prime subscription service, and more.

Elon Musk's first company was an online business directory called 'Zip2'

Musk started the online alternative to Yellow Pages in 1995 with his younger brother. Musk sold the company for $305M in 1999.

LVMH's history can be traced back to 1854, the year Louis Vuitton was started

Louis Vuitton was founded by a craftsman's apprentice who specialized in trunk-making. Since its merger with Moët Hennessy in 1987, which created LVMH, the conglomerate has been considered a powerhouse in the business world. "I would argue that next to Apple, no other company on the planet dominates their industry as completely as LVMH," one financial expert said.

In 1994, Amazon was founded as an online bookseller

Books were just the start, as founder Jeff Bezos' ultimate goal was to create an "everything store," using the internet to transcend the physical limitations of brick-and-mortar retail. The Seattle-based Amazon gradually added CDs and consumer electronics, becoming a dominant e-commerce player in the late 1990s, and one of the few dot-com companies to make it through the bust.

The Lauder family still controls more than 80% of the voting power in Estée Lauder Companies.

The story of the Sackler empire behind highly addictive OxyContin

This investigative report examines how the Sackler family built its fortune through Purdue Pharma’s aggressive marketing of OxyContin, a highly addictive painkiller. Through 2017, the drug had generated more than $30B in sales for Purdue Pharma, controlled by the Sacklers.

Ray Kroc proposed the idea of franchising McDonald's as a way to sell more of his Multimixers 7 years before buying the McDonald's brothers out of the company for $2.7M.

In 2012, Bill Ackman's hedge fund, Pershing Square, took a $1B short position against supplement company Herbalife after discovering that 82% of the company's distributors never made a profit, calling it a true pyramid scheme.

Watch the infamous live feud between Bill Ackman and Carl Icahn from 2013 in the fallout of a billion-dollar accusation that Herbalife was a pyramid scheme.

Estée Lauder's son, Leonard Lauder, transformed Estée Lauder into a global powerhouse

Leonard Lauder became president of Estée Lauder Companies in 1972 and is credited with much of the brand's expansion. Under his leadership, the company launched new lines like Aramis and acquired luxury brands to bolster its position in the luxury beauty market.

Many of luxury holding company LVMH's acquisitions were due to chairman and CEO Bernard Arnault's search for undervalued companies.

Visa Founder Dee Hock abruptly left the credit card company in 1984, saying his inner voice told him that business, power, and money are not what life is about.

Much of Estée Lauder's success stemmed from her laser focus on serving her target market: wealthy women who saw beauty as an investment.

The winding journey from Standard Oil to the modern oil industry

Standard Oil’s impact on the business world can be clearly seen today in oil giants like Exxon and Chevron. But the journey from the Rockefellers’ trust to the modern firms was a windy road. After the Supreme Court ordered Standard Oil’s break up, the first step saw it separate into many state-based companies like Standard Oil of California and the Ohio Oil Company. Visualize it here.

Bezos owned roughly 8% of Amazon as of 2025

Three decades after founding Amazon, Jeff Bezos has built a sprawling empire of businesses and financial interests. Other large stakeholders in the company include Amazon CEO Andrew Jassy and Bezos’ ex-wife MacKenzie Scott. This article provides more details on who owns how much of Amazon.

The Heinz Company acquired Weight Watchers for $71M in 1978 before selling the company to private equity firm Artal Luxembourg in 1999 for about $735M—more than 10 times the amount Heinz paid for it.

American Express is one of Warren Buffett's top stocks

Buffett's long investment in American Express is indicative of his highly principled investment strategy. Buffett often invested in longstanding businesses with strong core products and services. As of 2025, Buffett owned around 20% of all American Express stock, and his investment in American Express made up around 16% of his portfolio.