Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
J.P. Morgan says investors should remain guarded for the rest of August and wait until next month before buying stocks again.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Growth in fitness is strong now, but analysts are already warning of a slowdown if the economy goes into a recession.Business Newsread more
The service will be available on popular platforms like Apple TV, Google Chromecast and Roku, but not Amazon's Fire TV.Technologyread more
Investors should be careful not to buy or sell stocks based on last week's brief inversion of the yield curve in the bond market, CNBC's Jim Cramer warns.Investingread more
The conglomerate's head of investor relations released a more detailed statement about accounting practices under fire from Harry Markopolos.Marketsread more
Wild market swings claimed plenty of victims last week, but Cornerstone Macro's Carter Worth says Home Depot is poised for a big breakout.Options Actionread more
Goldman notes that high-dividend payers are trading at their largest valuation discount in nearly 40 years.Marketsread more
Part of the magic of Christmas may be how Santa Claus manages to balance his budget.
Old St. Nick has yearly expenses totaling more than $25.3 billion, according to a theoretical study conducted by content marketing agency Design by Soap, on behalf of UK-based serenataflowers.com.
The majority of those immense (and yes, imaginary) costs come from Santa's most important job: Toy production.
Based on UN population data, there are 2.4 billion children ages 17 and younger around the world. The average cost of manufacturing, producing and packaging just one toy for each child would be $10 per head, the company estimated.
Assuming all of these kids made it on the nice list, that works out to a total of $24.3 billion.
Then there's the matter of shipping those precious gifts. (As much as Father Christmas may love the North Pole, it's not a very feasible site for manufacturing and storing toys.)
Instead, the research team decided to headquarter Santa's mythical workshop in Shenzhen, China, where there's "a local airport and shipping port that isn't possible in the North Pole," said study author, John Pring. Shenzhen is "set up for heavy manufacturing and shipping those goods worldwide," he continued.
Shipping by road from the city would cost $446 million, while ocean shipping works out to be $236 million. That's $683 million total. (Though of course, these costs could be shifted with use of a reindeer-led sleigh.)
The study also took into account food, accommodation and insurance. With a projected crew of 50,000 elves to make all those toys, housing was estimated at $31.5 million per year. Those workers need food too — $18.3 million's worth to be exact. Health insurance for the elves, property insurance and travel insurance set Santa back another $291.4 million.
Don't forget wardrobe. To that point, 10 high-quality, custom-made suits were estimated to cost $10,000, a small fraction compared to the rest of Kris Kringle's bills.
A study like this requires plenty of assumptions, but Pring said the estimates were "in the ballpark."
With expenses like these, Santa would almost certainly be among the richest men in the world. On the Forbes 400 list this year, Bill Gates took the No. 1 spot with an accumulated wealth of $89 billion. (St. Nick could run through that much money in under four years.)
Although it's unclear just exactly how Santa makes his riches, Pring speculates it has much to do with stipends from his high-profile public appearances.
(Mr. Claus did not immediately respond to requests for comment.)
More from Personal Finance: