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Lithium: what is it used for? Batteries, medicines and other uses

Lithium

What is lithium used for? What are lithium batteries? How does lithium work as a medicine? Let’s find out why this metal is in such high demand!

Lithium is a silvery-white metal that, in recent years, has become a critical resource in high demand by world superpowers and beyond. The reasons behind this incredible growth in demand can be found in its many uses: batteries, medicines, ceramics, lubricating greases and more. In this article, we will explore a mineral that has become so popular in just a few years. Let’s get started!

Lithium: what it is, who controls it and who is fighting over it

Lithium is the lightest and least dense alkali metal on Earth. It is silver-white and oxidises on contact with water or air, taking on a darker colour. It has unique physical characteristics that make it highly sought after in various fields, as we will see below. Among these, lightness, high energy density – i.e. the ability to store a lot of energy in a small space – and reactivity are the most important for the industrial world. 

But how does the lithium supply chain work? What is the geopolitics behind this metal? To answer these questions, we have read and studied the report by the IEA (International Energy Agency) entitled ‘Global Critical Minerals Outlook’, published in May 2025. What do the experts tell us?

Who are the leading producers of lithium?

The first significant figure that highlights the importance of this metal concerns its production: in 2024, global lithium extraction recorded a substantial increase of 35% or more, for a total of 255 kilotonnes (kt) – by way of comparison, the world’s tallest skyscraper, the Burj Khalifa, weighs around 110 kt. The top five lithium producers in the world are unusual, as they include countries that are not often heard of. 

Australia ranks first, with 90 kt of lithium extracted in 2024, taking the gold medal by a wide margin. According to the IEA, this gap is set to widen: by 2030, mining of this metal is expected to grow by a further 30-35%, reaching 124 kt. Second place goes to China, with 57 kt in 2024, while the last step on the podium goes to Chile, which produced 49 kt of lithium last year, earning the status of dominant producer in Central and South America. For fourth place, we have to move to the African continent, more precisely to Zimbabwe, with 23 kt. Finally, in last place is another South American country, Argentina, which extracted 13 kt of lithium from its mines. In this regard, the IEA reports that this country increased production by 65% in 2024, to become an even more important player by 2030. 

Another figure worth mentioning concerns the concentration of mining activities: while in 2024 the top three producers accounted for 77% of global lithium production, by the end of this decade, the IEA expects this share to fall to 67%. Such a change indicates a certain geographical diversification, reflecting a widespread desire to enter this market. Analysts believe that by 2030, the share produced by the ‘rest of the world’ will rise from the current 17 kt to 49 kt. In addition, the amount of lithium extracted globally will double over the next five years, reaching a total of 471 kt. 

Once lithium has been extracted, who is responsible for refining it?

In 2024, according to the report, global production of refined chemicals was 242 kt. The discrepancy between lithium extracted (255 kt) and refined lithium is, of course, due to the inherent and inevitable inefficiencies of purification processes. In any case, 96% of these activities are concentrated in the top three countries in the refiner rankings, but it is believed that by 2030, the oligopoly will lose some market share, falling to 85%. Speaking of rankings, let’s take a look at the top five.

In first place is China, in a position of absolute dominance, which in 2024 processed 170 kt of lithium chemicals: the People’s Republic alone controls 70% of total global refining. It has no intention of stopping, as this figure is expected to rise to 277 kt by 2030. Second place goes to Argentina, which refines the same amount of lithium that it extracts, i.e. 13 kt. The bronze medal goes to Australia, a country that is only interested in extraction. Only 4.5% of the lithium collected in the fantastic land of kangaroos is refined, i.e. 4 kt. In fourth place are the United States and South Korea, with 3 kt of lithium each. With 1 kt produced in 2024, the last place in this special ranking goes to Japan.

Returning quickly to China, the IEA states that, despite having a near-monopoly on refining processes, the Dragon could lose a significant share of the market in ten years. Specifically, its share could fall from 70% to 60% by 2035. This is also because, according to forecasts, Argentina and the United States are expected to increase their refined lithium kt by 270% and 800% respectively, i.e. from 13 to 49 kt and from 3 to 27 kt.

The lithium market: what is the demand? 

In 2024, lithium saw a 30% increase in demand: the energy sector, of course, drove this increase, precisely because of the fundamental role this metal plays in the construction of batteries, electric machines and components for renewables. 

As for future demand, the IEA envisages three different scenarios with three different types of output. These scenarios are called STEPS, APS and NZE: the STEPS (Stated Policies Scenario) is the baseline scenario and represents the future as a continuation of the present, with current energy policies remaining in place; the APS (Announced Pledges Scenario) assumes that governments will achieve their energy and climate targets, such as phasing out fossil fuels and increasing renewable energy; the NZE (Net Zero Emission) scenario depicts a future in which the global energy sector has achieved net zero emissions by 2050.

In the first scenario – STEPS – lithium demand is expected to rise to 700 kt by 2035 and 1,160 kt by 2050, growing almost fivefold compared to 2024. In the second and third scenarios – APS and NZE – demand would be 30% and 20% higher than in the baseline scenario, reaching 1,500 kt and 1,400 kt, respectively. 

And the price? 

The price of lithium is a topic that may seem counterintuitive at first glance: since 2023, the value of this metal has fallen by 80%. One might wonder how this is possible, given that there was a 30% increase in demand in 2024 alone and that demand is set to increase fivefold over the next twenty years. The answer, as the law of supply and demand dictates, lies precisely in supply, which has grown exponentially and is set to continue on this trend.

Lithium is the 25th most abundant material on Earth and, unlike gold and Bitcoin, it is not scarce. This means that if demand rises, even by 30% in a year, supply adjusts more or less easily, and the price remains stable or even falls in the event of overproduction. However, to give a couple of figures, the cost of lithium in a typical 57 kWh battery – a battery for a common medium-sized electric car – has fallen from $67 to $15.   

Since we were talking about batteries and electric cars, let’s move on to the next section, which covers the main use cases.

What is lithium used for? The main use cases

As we have pointed out several times, lithium owes its popularity mainly to the energy sector, the primary driver of demand, particularly for electric car batteries. However, there are other, less well-known but essential applications. The pharmaceutical industry, for example, uses lithium as a drug in the treatment of specific psychiatric disorders. In contrast, the manufacturing sector uses it in glass and ceramics processing, as well as in machine lubrication. Let’s look at each case individually. 

What are lithium batteries?

Lithium batteries, or more correctly, lithium-ion batteries, are highly functional batteries because they are smaller, lighter, and more powerful than traditional batteries, such as lead batteries. This type of battery is such an important innovation that in 2019, its three inventors received the Nobel Prize in Chemistry. 

Today, lithium batteries power smartphones, laptops, electric cars and more, precisely because this metal has a particular physical characteristic that gives it a significant advantage over its competitors: high energy density. Put simply, this means that, for the same weight or volume, lithium batteries can store and release much more energy than older, more conventional batteries. What’s more, they are rechargeable—a win on all fronts. 

How does a lithium battery work? Without going into too much detail, these batteries work thanks to lithium ions, which is why it is more accurate to call them lithium-ion batteries: an ion, in a nutshell, is an atom that has lost an electron and therefore takes on a positive charge. The battery is composed of two main elements, the cathode and the anode. What happens, explained in straightforward terms, is that during the discharge phase, when the battery supplies energy, the lithium ions move from the anode to the cathode, generating electricity. 

In short, thanks to the invention of three scientists, we are now able to produce increasingly compact, lightweight and efficient technological devices. 

Lithium as a drug 

Lithium is mainly used in medicine to treat bipolar disorder, a psychiatric condition characterised by extreme mood swings, in which the patient alternates between states of intense euphoria and irritability – episodes of mania and hypomania – and periods of deep depression. Thanks to its properties, this particular metal is used to reduce the switches between the two moods as much as possible and thus stabilise mood. 

The effectiveness of lithium as a drug in this field was discovered in the late 1940s by John Cade, an Australian psychiatrist who was captured by the Japanese during the war. The doctor noticed that some of his cellmates, due to poor nutrition, were exhibiting unusual behavioural reactions. After the war, Cade resumed his studies and discovered that lithium carbonate had a calming effect on laboratory animals. He tried this chemical compound on himself and ten patients and, documenting the treatment, noticed significant improvements in the psychiatric condition of the subjects. However, the discovery went unnoticed, but twenty years later, Danish psychiatrist Mogens Schou decided to revisit the discovery and validate it scientifically, following experimental methods. In 1970, the research was finally reviewed, accepted and validated: lithium was undoubtedly an effective drug for the treatment of bipolar disorder. 

Lithium: side effects

Like all drugs, lithium is not without side effects. The less serious ones, which do not require immediate medical attention, include stomach ache, indigestion, weight loss or gain, swollen lips, excessive salivation and itching. There are other effects for which it is advisable to seek medical attention quickly, such as severe thirst, swelling of the legs, difficulty moving, fainting, abnormal heartbeat, and severe headaches. Finally, those that require immediate medical attention include severe dizziness and blurred vision, slurred speech, severe drowsiness, nausea and vomiting. 

Other uses 

As already mentioned, lithium is also used in other sectors, such as manufacturing, industry and chemicals. Here are some examples: 

  • Glass and ceramics: Lithium is used to lower the melting temperature of glass and ceramics, resulting in significant energy and cost savings. It also has positive effects on the strength, durability and shine of the final products.
  • Lubricating greases: the industrial and automotive sectors use lubricating greases containing lithium because they are highly resistant to water and high temperatures. 
  • Organic chemistry and polymers: Some lithium compounds are frequently used by the chemical industry because of their powerful reactivity. In particular, they are essential for the manufacture of synthetic rubber.

We have come to the end of this long journey to discover this metal and the infrastructure behind its production, refining, distribution and demand. Will lithium remain as important in the future? Will other technologies replace it?

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Cobalt: The Story of an Artistic Metal

cobalt

Cobalt-chrome alloys are biocompatible and wear-resistant, making them ideal for prosthetics — both orthopaedic (knee and hip) and dental (crowns and implants).

Now, let’s move to a more relaxing subject: cobalt in art.

Cobalt Blue: A Colour That Made History

Cobalt blue was first created in the early 1800s in France, driven by both artistic and economic motives.
Until then, blue was far from a “democratic” colour. The most prized — and widely recognised — shade was ultramarine, considered the ultimate blue. However, it was extremely expensive because it was made from lapis lazuli, a precious stone imported from Afghan mines — hence “ultra-marine” — and literally worth its weight in gold.

The price was so prohibitive that painters of the time would only use it for their most important works. Whenever possible, they replaced it with a cheaper pigment, azurite. But the result was far from identical — a bit like drinking a Campari Spritz made with a knock-off Campari at a third of the price. The need was clear: a blue with the same qualities as ultramarine, but at a much lower cost.

Why and How Cobalt Blue Was Born

Enter Jean-Antoine Chaptal, the French Minister of the Interior, who tasked renowned chemist Louis-Jacques Thénard with finding a cheaper alternative to ultramarine. In 1802, Thénard discovered that by sintering cobalt monoxide with aluminium oxide at 1,200°C, he could create a mixture that met the Minister’s requirements.

From that point on, artists could experiment with a colour that had previously been too expensive to waste. The importance of having cobalt blue in large quantities was such that the famous painter Pierre-Auguste Renoir is said to have remarked: “One morning, since one of us had no black, he used blue instead: Impressionism was born.” Such a thing would have been unthinkable with ultramarine.

Monet and Renoir began to use cobalt blue consistently for shadows, abandoning black. Beyond Impressionism, other great painters embraced it in their masterpieces: Van Gogh in The Starry Night, Kandinsky in The Blue Rider, Miró in Figures at Night Guided by the Phosphorescent Tracks of Snails, to name a few. A true revolution.

An Interesting Thought: What Links Cobalt to Bitcoin?

Beyond art, the story of cobalt prompts a reflection that touches on a theme close to us at Young Platform: the centralisation of supply chains and the risks that such oligopolies bring. In short, it’s a parallel between the shift from ultramarine to cobalt blue and the transition from the gold standard to the fiat currency system.

From Ultramarine to Cobalt Blue

As we’ve seen, the introduction of cobalt blue in 1802 had a positive impact on the art world, making experimentation possible with what had been an elitist colour. However, this shade — still widely used today — is heavily dependent on cobalt extraction and refining, which are concentrated in the hands of very few players.

Leaving aside the critical ethical issues — such as child labour and human rights violations, sadly ignored by countries like the Democratic Republic of Congo and China — the logistical reality is this: 81% of global cobalt extraction and 89% of refining are controlled by just three companies.

This is dangerous because it makes the system vulnerable to both internal shocks (political instability, domestic economic issues) and external shocks (natural disasters, wars). If any of these actors halt production, the global supply chain suffers. The result is a heavy dependence on a handful of players who can effectively dictate terms.

From the Gold Standard to the Fiat Standard

Similarly, on 15 August 1971, US President Richard Nixon announced the end of the Gold Standard — the “Nixon Shock” — ending the convertibility of the US dollar into gold and moving to a fiat currency system.

In this system, still in place today, the value of a currency like the US dollar is backed only by the economic and political trust in the issuing government — in this case, the US government.

This shift, much like the cobalt example, created a more “democratic” and flexible environment. Previously, governments struggled to finance large public projects due to the gold constraint; now, they had full control over the money supply. But again, the power is centralised in the hands of a few actors — namely, central banks such as the Federal Reserve or the European Central Bank.

While such centralisation can help manage inflation and crises, it’s not without risks, especially because it relies heavily on human judgement, which is inherently fallible, as the 2008 subprime mortgage crisis demonstrated. The fate of the global economy can depend on the decisions of a handful of high-ranking officials. When those decisions are good, great. But when they’re bad…?

The Moral of the Story: Bitcoin and Decentralisation

Concentrating too much power in too few hands is never a good thing. Politics, economics, finance, housing committees, university group projects, and even five-a-side football teams work poorly when a single entity makes all the decisions.

Bitcoin was created precisely to address this: to return power to individuals and remove — or at least limit — the influence of central authorities. Its decentralised nature allows for a more democratic system, where people interact directly, without intermediaries who could control or restrict their choices.

Of course, this is just one of Bitcoin’s many qualities and real-world use cases. If this introduction has sparked your curiosity, we recommend reading our article on the history and workings of BTC to get a complete picture of the revolutionary potential of the king of cryptocurrencies.

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How to create images with artificial intelligence

images with artificial intelligence

How to create images using artificial intelligence: Where do we stand? Discover all the steps in this comprehensive guide.

If you, too, have seen the images created by artificial intelligence – and if you haven’t, who knows where you live – your crevello will have ventured an argument like this. There was a time, not so long ago, when creating an image required pencils, brushes, cameras or, for the more modern, graphics tablets and hours of painstaking patience. Then, almost out of nowhere, generative artificial intelligence exploded. Suddenly, our social feeds, company presentations and even group chats were filled with dreamy, hyper-realistic and bizarre images, all spawned by an algorithm. “You want a Van Gogh-style astronaut cat eating ice cream on Mars? Give me two minutes.”

This new frontier of digital creativity has triggered a mixture of wonder and apprehension. On the one hand, the promise of democratising art, of giving anyone the power to visualise the impossible; on the other, the fear of a future where real artists, those in the flesh, end up begging robots. But before we panic or exclaim, let us try to understand how artificial intelligence creates images.

Creating images with artificial intelligence: what’s behind the magic?

Behind the apparent wizardry of an image that comes from a simple sentence, there is a concentration of technology that, until a few years ago, was the stuff of science fiction films. We are talking about machine learning and neural networks, i.e. software that attempts to imitate the functioning of the human brain. These systems are ‘trained’ on endless databases containing billions of existing images, each accompanied by a textual description.

The models most in vogue today, such as those based on ‘Diffusion’ architectures (such as Stable Diffusion, DALL-E 3, Midjourney), learn to associate words with visual concepts. In practice, they start from a digital ‘noise’, a kind of indistinct fog, and, guided by our textual input (the famous ‘prompt’), begin to ‘sculpt’ this noise, one small step at a time, until the required image emerges. Imagine a sculptor pulling a statue out of a shapeless block of marble, only the marble is digital, and the chisel is an algorithm that has seen more works of art than any living critic. The result? Sometimes a masterpiece, other times something that looks like something out of a Dali nightmare after a heavy dinner.

How to generate images with AI: instructions for use

If you think it is enough to type ‘cat’ to make artificial intelligence create the image of a purring feline from the screen, you will be disappointed. The art of dialoguing with these AIs, known by the somewhat pretentious Anglophone term prompt engineering, is a subtle discipline, somewhere between poetry and programming.

You have to be specific, almost pedantic. You want a ‘dog’? Fine, but what breed? What is it doing? Where is it? In what light? In what pictorial style? “A golden retriever puppy sleeping blissfully in a red velvet armchair, illuminated by warm afternoon light, Renaissance oil painting style”. There, now we’re getting somewhere. 

Then there are the negative prompts, or instructions on what NOT to do: “no double tails, please”, “avoid that plastic effect”, “I beg you, no more than five fingers on each hand!”. The process is iterative: you generate, observe the result, refine the prompt, regenerate, and so on, in a loop that can lead to the perfect image or to deciding that, perhaps, a hand-drawn picture was better. At first, it is easy to get digital abominations: that ‘cat on a bike’ might turn into a Lovecraftian tangle of fur and pedal metal. But with a little practice (and a lot of patience), you can begin to tame the algorithmic beast and start creating quality artificial intelligence (AI) images.

 Lights and shadows: the pros and cons of AI-generated images

Like any self-respecting technology, image-generative AI also brings with it a wealth of opportunities and a few skeletons in the cupboard. Here is a brief summary of what, at least in our opinion, are the pros and cons of this technological breakthrough.

Pros:

  • Democratisation of creativity: anyone, even someone who draws like a three-year-old, can give visual form to their ideas. Need a logo on the fly? An illustration for a post? An inspiration for a tattoo? Ask and (maybe) you’ll get it;
  • Speed and efficiency: for designers, creatives and marketers, it is a crazy tool for brainstorming, creating moodboards, concept art, and rapid prototypes. Hours of work condensed into a few minutes;
  • New aesthetic horizons: AI can mix styles, invent perspectives, create images that a human might not conceive, opening up unprecedented art forms;
  • Pure fun: let’s face it, asking the AI to draw absurd things is often hilarious;

Cons:

  • The six-finger nightmare (and other amenities): the infamous ‘uncanny valley’ is always lurking. Hands with too many or too few fingers, faces that melt like wax, seasick perspectives, objects that defy the laws of physics. Sometimes, the results are so surreal that they themselves become an unintentional art form.
  • The fair of the generic: with the ease of use, the risk is a rising tide of images that are aesthetically pleasing but devoid of soul, all a bit the same, a bit ‘Midjourney effect’. The world is now invaded by cyberpunk kittens with a variable (but hardly ever correct) number of legs.
  • The crisis of originality: if everyone uses the same tools and maybe even similar prompts, don’t we risk a stylistic flattening?
  • But is this art?: the debate is open and heated. If a machine ‘makes’ the work, is it still art? Who is the artist? Who writes the prompt, or the algorithm? My cousin, who until yesterday was only making memes of dubious quality, now calls himself ‘an international prompt artist’, complete with a portfolio on LinkedIn.

And from a philosophical point of view?

And here the matter gets serious, because the implications go far beyond the number of fingers. The first problem, which has long been central to the debate on artificial intelligence, not only when it is used to create images, is related to copyright and the question: whose image is generated? Of the user who wrote the prompt? Of the company that created the AI? Or is it a derivative of the myriad images used for training, many of which may be copyrighted? At the moment, it’s a legal Wild West. And what about the prompting ‘in the style of [famous living artist]’? Is it homage or theft?

Then there is the work-related issue. Will artificial intelligence destroy the market for illustrators, photographers, graphic designers, or just make it more productive? We like to be optimistic, imagining a world where AI is a powerful ‘creative assistant’, freeing humans from superficial tasks and allowing us to focus on the most valuable tasks.

Let us close with the two main ethical dilemmas. The first is frightening and concerns the ease with which false but realistic images can be created with intelligence. Photos of events that never happened, faces of people stuck on the bodies of others. The implications in terms of disinformation, manipulation of public opinion, and trust in sources are enormous. Distinguishing the true from the plausible will become an increasingly challenging task.

Finally, it must be emphasised that AIs are trained on data created by human beings. If this data contains prejudices (gender, ethnic, cultural), the AI will learn and replicate them, which may lead to the creation of stereotypical images or the exclusion of certain representations. The algorithm, in short, can be as racist or sexist as the societies that nurtured it.

In short, the possibility of creating images with artificial intelligence is certainly as revolutionary as the invention of photography or digital photo editing. As we are increasingly realising, AI is an incredibly powerful tool, capable of democratising creativity, accelerating production processes, but also raising profound questions about the nature of art, work and truth itself. Like any tool, its impact – beneficial or maleficent – will depend on how we choose to use it, adjust it and integrate it into our lives. It is neither a demon to be exorcised nor a magic wand that will solve every problem. It is, more prosaically, a powerful new set of digital crayons available to humanity. Get ready for a future where, in order to understand whether your friend’s holiday photo is real or ‘prompt’, you will need a trained eye, a second coffee and, perhaps, an honorary degree in the philosophy of perception. The good (and the bad) has just begun.

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Who are the 9 richest women in the world? The 2025 ranking

The Richest Women in the World: Updated 2024 Ranking

Richest women in the world: the ranking updated to 2025

Who are the richest women in the world in 2025? Have there been any changes at the top compared to previous years? Below is the updated ranking based on net worth, which is calculated by subtracting liabilities from the total value of assets owned, including real estate, investments, cash, and businesses.

To compile this list of the world’s richest women, we refer to data from Forbes, which annually updates its rankings of the wealthiest billionaires. It’s also worth noting the Bloomberg Billionaires Index, which provides a real-time snapshot of billionaire wealth. As a result, the rankings of some of these women may fluctuate throughout the year.

Here are the 9 richest women in the world in 2025.

9. Marilyn Simons

Marilyn Simons, the widow of the renowned mathematician and investor Jim Simons, who founded the hedge fund Renaissance Technologies, served as the president of the Simons Foundation until 2021. The Simons Foundation is one of the largest philanthropic organisations in the United States.

The foundation provides scholarships and grants to support research and development in four main areas: science and mathematics, autism and neuroscience, society and culture, and life sciences.

8. Miriam Adelson

After the death of her husband, Sheldon Adelson, in 2021, Miriam Adelson inherited the majority of shares in the casino giant Las Vegas Sands. The Adelson family owns five casinos in Macau and one in Singapore, which are among the world’s wealthiest locations. With assets totalling $32.1 billion, Miriam is also a prominent philanthropist who has donated over $1 billion to medical research to date.

7. Abigail Johnson

Abigail Johnson is the seventh richest woman in the world, with assets totalling $32.7 million. She serves as the face of Fidelity Investments, the third-largest investment fund in the world, which manages approximately $5.3 trillion in assets. In January and July 2024, Fidelity, along with other investment funds, launched two exchange-traded funds (ETFs) focused on Bitcoin and Ethereum, respectively. This event marked a significant milestone for the cryptocurrency industry. Additionally, Fidelity recently announced the launch of two stablecoins in collaboration with World Liberty Financial, a decentralised finance (DeFi) project supported by the Trump family.

Discover the crypto market!

6. Savitri Jindal

Savitri Jindal, with assets totalling USD 35.5 billion, is the richest woman in India. She serves as the chairman of the Jindal Group, a major player in the steel, energy, and infrastructure sectors. In addition to her business ventures, she is also involved in politics. Following the death of her husband in 2005, she was elected to the Haryana Vidhan Sabha, representing the Hisar constituency.

5. Rafaela Aponte-Diamant

Rafaela Aponte-Diamant and her husband, Gianluigi, co-founded the Mediterranean Shipping Company (MSC) in 1970. Due to their vision, MSC has become the largest shipping line in the world. Rafaela currently oversees a fleet of approximately 900 ships, with assets valued at $37.7 billion. 

4. Jacqueline Mars

Jacqueline Mars, the fourth-richest woman in the world and heir to the confectionery and food empire Mars, Inc., has a fortune of approximately $42.6 billion. She runs the family business alongside her brother, John. Mars Inc. is renowned for its popular snack brands, including M&M’s and Snickers, as well as the pet food brand Pedigree.

3. Julia Koch

Julia Koch and her children inherited a 42% stake in Koch Industries after the death of her husband, David Koch, in 2019. With assets totalling $74.2 billion, Julia Koch now leads one of the world’s largest private conglomerates, the second-largest in the United States. The company operates in various sectors, including oil, paper, and medical technology.

2. Françoise Bettencourt Meyers

Françoise Bettencourt Meyers, the heiress of the cosmetics giant L’Oréal, has lost her title as the world’s richest woman after holding it for five years. However, her fortune remains substantial at approximately $81.6 billion. She owns 35% of the L’Oréal group, which has experienced a 20% drop in share value this year due to a significant decline in sales, particularly in China. Additionally, after 20 years, Françoise Bettencourt Meyers has announced her retirement from the company’s board, handing over the reins to her son, Jean-Victor Meyers.

1. Alice Walton

Alice Walton, the daughter of Walmart founder Sam Walton, has seen her wealth increase to $101 billion, largely due to a 40% rise in the company’s stock value. Unlike her siblings, she has not taken an active role in managing the family business; instead, she has focused on her passion for art. Walton founded the Crystal Bridges Museum of American Art, which features works by renowned artists such as Andy Warhol, Georgia O’Keeffe, and Mark Rothko.

This ranking highlights how some of the world’s richest women have diversified their investments across various sectors, including technology, fashion, mining, and art. Whether they are successful entrepreneurs or heirs to substantial fortunes, these women continue to make a lasting impact in the global business world.

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Donald Trump and tariffs: the truth hurts you

donald trump

US President Donald Trump has supported the duties with often false or inaccurate statements. Here we will look at the most sensational ones. Enjoy!

US President Donald J. Trump based his campaign on the need to make America great again – Make America Great Again – and did so to the tune of slogans and catchphrases such as ‘America First!’ and ‘return to the Golden Age’. The trade tariffs, imposed, then lifted, and then reinstated, are the result of this strategy and are justified by blows of impressive statements. The problem is that many of these are unfounded. Off to fact-checking!

Donald Trump, when talking about the United States, tends to inflate the figure.s

Donald Trump is a proud American and, as such, is prone to magnifying everything about the United States of America, including numbers. Let us examine some sovereignist flare-ups: 

  • The Paris Climate Agreement cost the United States trillions of dollars that other countries were not paying. In Congress on 4 March 2025, Donald Trump justified his exit from the Paris Climate Agreement in this way: untrue, the United States has never earmarked even remotely similar sums for the Agreement. Joe Biden, when he took office, promised to allocate around $11 billion per year, a figure that was later scaled back. 
  • ‘Honda has just announced a new plant in Indiana, one of the largest in the world‘. Also at the Congress on 4 March 2025, the US President declared in a triumphant tone the construction of a new industrial hub by the Japanese giant: untrue, Honda had expressed its intention to build the latest Honda Civic in Indiana rather than Mexico, as reported by Reuters, without confirming this.  
  • ‘The US is collecting $2 billion a day from customs duties. ‘. Statement of 8 April 2025, during a speech to coal industry workers: false, the figure is in the hundreds of millions, not billions and, most importantly, the duties are borne by American importers, not foreign exporters.  
  • “We were losing $2 trillion a year on trade“—sentence uttered by Donald Trump on 22 April 2025 during an interview with Time in the White House. Here, the POTUS refers to the US trade deficit with the rest of the world before his arrival: false, in 2024 the imbalance amounted to some $918 billion, in 2023 to $773 billion, in 2022 to $945 billion, and so on. 
  • ‘I have signed 200 agreements. ‘. On 25 April 2025, in the same interview with the Times, when asked, ‘Not a single one (trade agreement, ed.) has been announced. When will you announce them?” Donald Trump replied with a dry “I have closed 200 deals”: untrue, there was – and is – no evidence to validate this claim.

Donald Trump and the European Union: not quite love at first sight

That the President of the United States of America has no excessive sympathy for the Old Continent is a well-known fact: just recently, he confirmed this ‘slight’ antipathy by raising tariffs to 50%. Let us see why: 

  • “They don’t buy our cars, they don’t buy our food. They don’t buy anything.” On Sunday, 6 April 2025, Donald Trump told reporters aboard the presidential plane Air Force One that the EU would take advantage of the US: untrue. In 2024 alone, the EU imported almost $650 billion worth of goods from the US. Not exactly chump change. 
  • “They don’t take our agricultural products“. Also on that 6 April, POTUS accused us of not buying goods and commodities for agriculture: untrue, as the US government itself reports, in 2024, the European Union spent almost $13 billion (+1% compared to 2023) on agricultural commodities. We like American dried (nuts) fruit.
  • “They put up barriers that make it impossible to sell a car. It’s not a question of money. It’s that they make everything so difficult: the standards, the tests. They drop a bowling ball on the roof of your car from 20 feet up. And if there’s a small dent, they tell you: ‘Sorry, your car is not suitable‘. This is beautiful. Monday, 7 April 2025, bilateral with Israeli Prime Minister Benjamin Netanyahu: untrue, there is no similar safety check in Europe, and most importantly, nowhere does it say that minor damage can cause the car to fail the test. 
  • ‘The European Union was created to exploit the United States of America‘: false. On 10 April 2025, Donald Trump is the protagonist of a tirade so vague that it is difficult to refute. In any case, numerous scholars – especially historians and economists – have been taken aback by this statement. John O’Brennan, a leading professor of European Integration, European Union Politics, and International Relations, said that this statement ‘could not be more wrong or inaccurate‘. And like many others.

From China with fury

That Americans and Chinese do not get along well is well known. US President Donald Trump, since his inauguration, has stepped up his game with a trade war based on extreme tariffs that was later suspended. Let us examine some of his recent mental gymnastics:

  • “We had massive deficits with China. Biden let the situation get out of hand. These are $1.1 trillion deficits; ridiculous, and it is simply an unfair relationship. It is 23 January 2025, and we are at the annual meeting of the World Economic Forum in Davos when these words come from the speakers: false. The fact checkers indicate that in 202,3 indeed the US trade deficit as a whole will be around that figure. Donald Trump, however, forgets one crucial detail: the $1.1 trillion deficit concerns the whole world, not just China, and only considers goods without including services in the calculation. 
  • ‘We have a deficit with China of more than a trillion dollars. ‘ This was stated by The Donald in an interview on Fox News Radio on 21 February 2025: false. As reported by the B.E.A. (Bureau of Economic Analysis), in 202,4 the trade deficit was around $263 billion; in 2023 the figure was close to $252 billion. In short, it was wrong by about $730 billion.
  • China has never paid even 10 cents to any other American president. Liberation Day, Wednesday 2 April 2025. Donald Trump announces tariffs for the first time and finds time to fire another propaganda bullet. By this, POTUS meant that before him, the Chinese were free to trade with the US for free: untrue. In 1792, Alexander Hamilton, then US Secretary of the Treasury, proposed the Tariff Act – also known as the Hamilton Tariff – to incentivise the consumption of domestically produced goods. 

For Donald Trump, the grass is always greener on the other side

We close this review of rhetorical acrobatics with the United States’ neighbours: Canada and Mexico. These three great nations have always had very close trade relations, formalised by various agreements including NAFTA (North American Free Trade Agreement) and the USMCA (United States Mexico Canada Agreement). 

  • The US has a ‘200 billion deficit with Canada. He emphasised this several times on 7 January 2025 at a press conference at his home in Mar-a-Lago: false. Again, the B.E.A. data tell us that in 2024 the imbalance between imports and exports with Canada amounted to $35.7 billion.
  • Canada is “ONE OF THE NATIONS WITH THE HIGHEST DUTIES IN THE WORLD“. All caps because Donald Trump, on Truth, often writes in caps lock. On 11 March 202,5, he published this statement: false, as also reported by the World Bank, which puts Canada in 102nd position out of 137 countries for weighted average tariff on all products. This indicator reflects the average import tax, calculated by taking into account the weight of different products imported.
  • “Canada does not allow American banks to do business in Canada, but their banks invade the American market. Oh, that sounds about right, doesn’t it?” he wrote in Truth on 4 March 2025: untrue, Canada does not ban foreign banks, much less American ones. They have recently tightened regulations, but banking institutions like Bank of America, Citigroup, and Wells Fargo have been operating in Canada for more than a hundred years.
  • “We have a $200 billion trade deficit with Mexico“. The US President said this on 9 February 2025, during an interview for Fox News: untrue. Again, the B.E.A.’s 2024 figures show a trade deficit of around $180 billion, half of what Trump said.

In short, we have only analysed one tenth of the falsehoods that the 48th President of the United States of America has been able to invent during these first five months in office. Knowing the data is very important and allows you to speak with full knowledge of the facts and avoid embarrassing and momentous blunders. 

For this reason, join Young Platform and get informed so that you will have safe arguments with your friends during the Thursday afternoon aperitif!

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The 4% Rule: Early Retirement Explained

Early Retirement Explained

How to retire early? Many people desire early retirement, and the 4% rule can provide assistance, despite its drawbacks. Let’s explore what it entails.

Early retirement is a dream for many working individuals, as it allows them to enjoy their savings while they still have the energy to do so. However, with the retirement age increasing almost every year, this opportunity often arrives later in life. The 4 % rule is one approach that can help people achieve their goal of early retirement. In this article, we will examine the 4% rule, including its benefits and drawbacks.

Early retirement and the 4% rule: the origins 

The 4% rule originated in the United States, a country guided by the Latin proverb “homo faber fortunae suae,” which means “man is the author of his own destiny.” This mindset encourages citizens to rely on their own abilities rather than depending heavily on the government. As a result, Americans often gain familiarity with investments from a young age, driven by the belief that their future largely depends on their personal actions. This mentality has led to the development of various financial theories related to savings and retirement, including the popular 52-week challenge and the 4% rule that we will discuss today.

William Bengen, an aerospace engineer born in 1947 in Brooklyn, New York, is the inventor of this principle. He earned a master’s degree in financial planning in 1993. The following year, he published an article titled “Calculating Withdrawal Rates Using Historical Data” in the Journal of Financial Planning. In this article, Bengen analysed extensive historical data on the U.S. market and discovered that it is possible to sustain oneself on savings for up to 30 years. His method involves withdrawing 4% of one’s investment portfolio each year and adjusting this amount for inflation starting in the second year.

It’s essential to recognise that the American pension system differs significantly from European systems and is structured around three primary pillars: social security, private pension funds, and personal investments, including Individual Retirement Accounts (IRAs) and 401(k) plans. A key aspect that helps us understand Bengen’s strategy is that the 4% rule is based on the idea that pensions are “dynamic” rather than static. This means that when Americans save for retirement, they typically invest their money in a variety of assets, including stocks, bonds, exchange-traded funds (ETFs), and mutual funds. As a result, their pensions tend to grow over time. The 4% rule is designed conservatively, suggesting that this withdrawal rate would generally provide enough income to live comfortably for roughly 30 years. 

To illustrate this point more clearly, let’s examine a concrete example.

How does the 4% rule work?

To determine how much capital you need for retirement, start by calculating your average annual expenses. Once you have this figure, divide it by the %age you plan to withdraw annually, which is typically 4% (or 0.04). 

For example, if you anticipate needing 15,000€ per year for expenses (which breaks down to 1,250€ per month for 12 months), you would divide this amount by 4%: 

15,000€ ÷ 0.04 = 375,000€. 

This means you should aim to have 375,000€ in investments. According to Bengen’s perspective, this capital would be invested in the stock market and would generate an annual return.

Great! You can stop working and enjoy your free time. In the first year, you withdraw 4% of your initial amount, which is €15,000. From the second year onward, you will adjust your withdrawal amount to account for inflation, specifically increasing it by 2%. This means you would withdraw €15,300 in the second year, and continue to adjust this amount annually based on inflation. Meanwhile, the invested capital is expected to generate enough profit to cover these withdrawals, allowing the portfolio to remain sustainable even during years when the market does not perform as well as expected. However, there are some caveats to consider.

Bengen’s early retirement fails to grasp some critical issues

First of all, it’s important to recognise that this is a purely theoretical rule and may not accurately reflect real-life situations. While calculating average annual expenses can be helpful, it doesn’t account for unique circumstances, such as wanting to take a trip to El Salvador or managing unexpected costs like car repairs. In these instances, you may need to reevaluate the amount you plan to withdraw to cover these unforeseen expenses—unless you have a dedicated emergency fund set aside.

Additionally, it’s crucial to consider the costs and fees associated with managing your investments. The Total Expense Ratio (TER) encompasses all operational expenses of a fund, including those related to mutual funds or ETFs. These fees can significantly impact your net investment return. If you decide to work with a financial advisor, their fees will also be factored in. For example, a gross return of 7% could ultimately result in a net return of only 5.5% after deducting these costs. Keep in mind that every euro spent on commissions is a euro that isn’t working toward your future. If you’re interested in experiencing life in a country that has adopted Bitcoin as legal tender, consider planning a trip to El Salvador. You can also explore clubs offering discounts through WeRoad. Furthermore, join the Young Platform to stay updated on relevant guides and news!

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Young’s Community. Follow us on Social Networks

Young Platform’s community runs on social networks, let’s keep in touch

The Young Platform community lives and grows every day on social media. It’s where we share news, insights, educational content and curiosities — but also where we discuss the future of our ecosystem and listen to your ideas.

Our official channels are open spaces designed for dialogue and exchange. Each has its own personality, so you can choose where to follow us depending on what you’re looking for: updates, learning, interaction or entertainment.

Here are all our channels — and why they’re worth following 💚

Follow us on our daily adventure!

Telegram: discover what we’re brewing up, ask for technical support and share your ideas with the team and other members of the community. (If you’re Italian, here’s Telegram  for our Italian community)

Instagram: unmissable curiosities and Live streams with the great pioneers of the Crypto world

Linkedin: the space for Young’s Senior Advisors, conferences and events around the world

Twitter: the great network of those who work on innovation in Italy and collaborate with us

Facebook: videos, interviews and the latest Academy releases

Disclaimer: The team will never ask you for your personal information, email or password to access your account. Beware of those who do so in order not to compromise the security of your cryptocurrency.

—

The Young Team

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Multinetwork: transfer your crypto in the most convenient way

multinetwork

Transfer your cryptocurrencies via your preferred blockchain, to and from Young Platform, with Multinetwork.

Many in our community have been asking for the option to deposit and withdraw crypto through different networks, such as Layer-2 solutions. Here’s what that means and the advantages of Multinetwork.

What are networks?

While navigating the crypto market, you might use a wallet or a DeFi application.

To add cryptocurrencies to these wallets and use such applications, you’ll often need to go through an exchange to convert Euros into crypto.

At some point, you may also want to transfer the tokens you’ve obtained from these applications to the Young Platform—either to convert them or to store them in a simpler way for your tax declaration.

To move crypto from Young Platform to other crypto applications (and vice versa), you’ll need to use a blockchain network.

Here’s the key question: which blockchain should you use?

Every cryptocurrency is supported by specific blockchains (and networks). For example, BTC is mainly transferred via the Bitcoin network, ETH via Ethereum, and so on.

Over time, however, new blockchains have emerged—faster and cheaper ones—especially for moving Ethereum-based cryptocurrencies. Layer-2 solutions like Arbitrum, Optimism, and Polygon have made it possible for ETH and all ERC-20 tokens to circulate more efficiently and at lower costs.

That’s why many crypto applications now offer the option to use different blockchain networks. And now, you can do the same on Young Platform!

Which networks are supported?

Currently, Multinetwork supports ETH, USDC, and USDT—the most widely used cryptocurrencies in DeFi. More networks and assets will be added in the future.

You can always find the complete list of supported networks on the Fees and Prices page. For step-by-step instructions, visit our Support portal to learn how to deposit and withdraw.

Take advantage of Multinetwork to transfer your crypto in the fastest and most cost-effective way!

Warning: cryptocurrency transfers sent on the wrong network, or to the wrong wallet, or without a memo/tag may not be recoverable.

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Club benefit: up to €450 free for WeRoad travels

Not sure where to go for your next trip?

Whether you’re planning a spring getaway, an autumn adventure or a winter break, WeRoad trips with Young Platform Club perks are the perfect answer.

Planning a last-minute departure is never easy, especially if you want an authentic, well-organised experience.

Luckily, Young Platform and WeRoad make it simple — and more affordable!

What is WeRoad?

As well as being one of the most important Italian Tour Operators, also present in France, the UK, Germany and Spain, WeRoad is the largest community of travellers in Italy.

Forget the old agencies that print your tickets by fax, crumpled brochures or buses full of tourists: with WeRoad, you book and manage your entire trip online!

On WeRoad, you find trips for curious and adventurous spirits who want to discover the world with new people and an experienced travel coordinator without having to worry about the organisational side.

How does the benefit work?

Thanks to the partnership with Young Platform, Club members can enjoy a unique advantage on WeRoad travels.

This is a coupon that can be used for 3 different trips, the value of which varies depending on the Club:

  • Bronze Club: €50 discount usable on 3 trips (total discount €150)
  • Silver Club: €70 discount usable on 3 trips (total discount €210)
  • Gold Club: €100 discount usable on 3 trips (total discount €300)
  • Platinum Club: €150 discount usable on 3 trips (total discount €450)

If you are already subscribed to a Club, you will automatically receive 1 unique coupon by email today.

If you are not in any Club today, but you sign up at any time in the future, you will receive your coupon by email immediately after the subscription.

How to use the coupon?

1) Read the email containing the coupon, which will tell you its expiry date. Then save it so you can find it again for your next trip.

2) Visit the WeRoad website.

For the coupon to be accepted, use the site of the country you signed up with on the Young Platform: 

  • If you indicated Italy as your country of residence when verifying your identity on Young Platform, use the coupon at weroad.it
  • If you indicated France as your country of residence when verifying your identity on Young Platform, use the coupon on weroad.fr
  • If you indicated any other country as your country of residence when verifying your identity on Young Platform, use the coupon at weroad.co.uk

3) Choose your WeRoad trip with the search bar or via the menu.

If you have found a destination, click on ‘Show departure calendar’, select the date that suits you, and click on ‘Book’.

Or if you are already on the trip page for a specific date, click on ‘Book your tour’.

4) When paying, enter the coupon in the ‘Promocode‘ box: check that the discount has been applied!

Please note that it is not possible to apply more than one code to the same WeRoad trip.

If the coupon does not work or you experience any issues, please contact support at [email protected].

Travel with WeRoad and have an unforgettable adventure!

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How to buy cryptocurrencies on Young Platform: 4 ways to deposit euros

Buying cryptocurrencies on Young Platform: how to deposit euros

Want to buy cryptocurrencies on Young Platform? The first step is simple: top up your euro wallet. Only after making a deposit can you exchange your euros for any crypto available on the exchange.

Before getting started, make sure you’ve completed identity verification. On Young Platform, you have several options to add funds to your account: you can deposit via bank transfer, debit or credit card, Google Pay or Apple Pay, or redeem a Gift Card.

Choose your preferred method, top up your account, and start your journey in the crypto world!

1. Deposit via bank transfer

Bank transfer is one of the safest and most cost-effective ways to deposit euros into your Young Platform account and start buying cryptocurrencies.
You can make a transfer from an Italian account or an account in the EEA, with some differences in timing and steps.

All bank transfers are free of charge, except for any fees applied by your bank.

How to deposit via bank transfer:

  1. Open the Young Platform app and go to Home or Euro Wallet.
  2. Select Deposit and choose EUR as the currency.
  3. Select Bank Transfer.
  4. Specify whether your account is:
    • Italian
    • Foreign (EEA)
    • Intesa Sanpaolo
  5. Copy the Young Platform’s bank details shown on the screen.
  6. Open your banking app or online banking service and paste the details to complete the transfer.
    • If you have a foreign or Intesa Sanpaolo account, also enter the required amount and payment reference before confirming.
  7. Send the transfer. Once completed, the amount will appear in your Euro Wallet on the Young Platform.

Processing times:

  • Instant transfer (Italy only): credited in 15–45 minutes.
  • Standard transfer: credited in 2–5 business days.

Deposit limits:

  • Minimum amount: €20
  • Maximum amount: depends on your verification level (KYC):
    • Level 1 – max €4,000 per transaction / €25,000 per year
    • Level 2 – max €8,000 per transaction / €50,000 per year
    • Level 3 – max €30,000 per transaction / €200,000 per year
    • Level 4 – max €60,000 per transaction / €200,000 per year
    • For higher limits, contact: [email protected]

Important note:

  • The bank account must be in your name (or jointly held by you) and match the name registered on Young Platform.
  • For foreign accounts and Intesa Sanpaolo, a payment reference is mandatory.
  • For the latest fees and limits, check: exchange.youngplatform.com/fees

2. Deposit with debit, credit or prepaid card

You can quickly deposit euros into Young Platform using Visa and Mastercard debit, credit or prepaid cards.

How to deposit:

  1. From Home or Euro Wallet, select Deposit.
  2. Choose EUR.
  3. Select Credit, debit or prepaid card.
  4. Add a new card or select a saved card.
  5. Enter the amount (minimum €20).
  6. Review the transaction summary and confirm.

Your bank may require authentication via app or SMS (SCA – PSD2).

Note: The first time you use a card, a small temporary charge will be made to verify it. This amount will be refunded automatically after verification.

Advantages: Instant deposit.
Fees: 2.2% + €0.25 (Visa/Mastercard fees).
Name requirement: The card must be in your name.

For updated fees: exchange.youngplatform.com/fees

3. Deposit with Google Pay or Apple Pay

You can also quickly top up your Young Platform account using Google Pay or Apple Pay.

To use this method:
You must have Google Pay or Apple Pay enabled on your device and linked to at least one payment card.

How to deposit:

  1. From Home or Euro Wallet, select Deposit.
  2. Choose EUR.
  3. Select Google Pay or Apple Pay.
  4. Enter the amount (minimum €20).
  5. Confirm the transaction.

Credit time: Immediate.
Fees: 2.2% + €0.25 (same as card deposits).

For updated fees: exchange.youngplatform.com/fees

4. Redeem a Gift Card

Young Platform Gift Cards are digital vouchers worth between €20 and €250, redeemable for cryptocurrencies.

How to redeem:

  1. Go to the Profile or Wallet section from the app or web platform.
  2. Select Redeem Gift Card.
  3. Enter the code you received by email or SMS.
  4. The amount will be credited to your Euro Wallet and ready to use.

FAQs about euro deposits

  1. What does “topping up my account to buy cryptocurrencies” mean?
    It’s the process of transferring euros into your Young Platform wallet, so you can then convert them into cryptocurrencies.
  2. Do I need a subscription to use my account?
    No, your account is free. You can deposit any amount, anytime—no fixed costs.
  3. How do I check if my deposit has arrived?
    Check your Euro Wallet balance. If the funds have been credited, you’ll see them instantly.
  4. What if my deposit is delayed?
    Check the expected processing times for your deposit method. If it’s taking longer than expected, open a support ticket:
    support.youngplatform.com/hc/en/requests/new
  5. Is it safe to link my card to the Young Platform?
    Yes, it’s safe. Just beware of scams: always make sure the URL is exchange.youngplatform.com/ or use the official app.
  6. How many cards can I link?
    You can add up to 5 cards per month and 40 in total.
  7. How can I withdraw my funds?
    Withdrawals are only possible via bank transfer or the payment card used for your deposits. Full instructions are available here:
    support.youngplatform.com/hc/en-us/sections/4559848673426-Deposits-Withdrawals
  8. Why do I see multiple wallets in my account?
    On Young Platform, each currency (fiat or crypto) has a dedicated wallet: one for euros and one for each cryptocurrency.
  9. Can I remove my card whenever I want?
    Yes! Go to Profile → Payments and click Remove card to delete any saved card.