Here's your Forbes Daily Briefing for Friday, July 18th.

Today on Forbes, how Victoria's Secrets, Les Wexner, made $2 billion in three months from AI giant Corweave.

Five years ago, Ohio's most revered entrepreneur, Les Wexner, stepped down as chairman of L. Brands and soon began

to sell off his stake in Victoria's Secrets parent company amid controversy over his close relationship

with convicted sex offender, Jeffrey Epstein. Many believed that Wexner, then age 82, would

quietly retire to his 340-acre estate in New Albany, Ohio.

Instead, the fashion mogul has more than doubled his fortune, thanks in large part to some

savvy bets in a different industry, technology. Over just the past three months, the mogul's

net worth, which includes assets held in his

children's and wife Abigail's names, has soared to $10.1 billion from $7.9 billion, according

to Forbes's estimates. The biggest driver of this increase is a 4% stake in Corweave, one of the

busiest artificial intelligence companies around.

On July 7th, Corweave announced it is buying Crypto Minor Core Scientific in a roughly $9 billion

all-stock deal. Corweave's market capitalization has almost tripled since its March IPO to

nearly $73 billion today, and Wexner's

stake is now worth $2.8 billion. Forbes previously reported on how Wexner scored his

stake in Corweave, which was founded in Livingston, New Jersey in 2017. Thanks to a smart investment

by Wexner's money manager at the time, a trust established for

the benefit of his four children, Sarah, Hannah, David, and Harry, apparently invested $1 million

in Corweave in 2019. It put in another $600,000 in the startup series A funding round in 2021.

Wexner's Corweave shares were already worth $730 million when the company went public in March.

The 8-year-old Corweave helps companies build data centers and loans out cloud access

...