• Leaked Microsoft guidelines shed light on how much the company pays.
• This Morgan Stanley veteran is ready to be CEO — it just might be somewhere else.
• Tech billionaire Peter Thiel was an FBI informant.
• The myth of the Great Boomer Wealth Transfer.

It’s time to add the emergence of weight-loss drugs like Ozempic and Wegovy to the conversation. These drugs could lead millions of Americans to alter their diet and lifestyles in the years ahead, reshuffling huge amounts of spending in the process.

Research on the effects of these drugs has sent stock prices for kidney dialysis providers and CPAP manufacturers plunging. The same is true for companies that make insulin-delivery systems. Walmart has said it’s seen customers on the drugs pull back on spending on food.

There are obvious beneficiaries, too. Novo Nordisk, which makes Ozempic and Wegovy, is now Europe’s most valuable company. Insurers and pharmacy benefit managers could cash in. Doctors are rushing to get certified to treat obesity.

There are real questions over how these drugs will be paid for, with one Blackstone exec saying the cost of covering them to help people lose weight could put some companies out of business.

And the science is developing quickly, with another drug, Eli Lilly’s Mounjaro, showing signs it could be more effective than Ozempic for weight loss. As with any medication, drugs won’t be the answer for everyone.

Still, it’s possible to picture a world where millions or even tens of millions are eating less, losing weight, and feeling differently about themselves. The impact that has on companies’ bottom lines and on the economy will be one of the big stories of the next decade.

The highest pay package, according to the guidelines viewed by Insider, included a $316,000 salary, a $1.2 million hiring bonus, and roughly $1 million in annual stock awards. The lowest, meanwhile, was a $42,500 salary with no hiring bonus or guaranteed stock award.

See how much Microsoft pays new hires by level.

Also read:

• Microsoft is preparing to bring on Amazon as a customer of its 365 cloud tools in a $1 billion megadeal, according to an internal document

• Amazon tells managers they can now fire employees who won’t come into the office 3 times a week

Morgan Stanley’s head of investment management is viewed as smart, poised, and “CEO-esque” by former colleagues. But his chances of taking over for CEO James Gorman have been overshadowed by two fellow candidates: the investment-banking head Ted Pick and the wealth-management head Andy Saperstein.

That’s not to say Simkowitz isn’t a name worth knowing. “He is going to be a CEO somewhere if he doesn’t get this job,” said one former colleague.

Read more on Dan Simkowitz’s rise.

Also read:

• Meet the candidates in the running to replace James Gorman as Morgan Stanley’s CEO

But there is yet another facet to Thiel, one that has remained secret until now: FBI informant, which he became in the summer of 2021, Insider has learned.

Read the story.

A life-changing inheritance from a relative isn’t the reality for most people. Only families in the wealthiest 1% of Americans said they’d received a six-figure inheritance.

In reality, most boomers’ wealth will go toward long-term care and end-of-life costs.

Why many will be disappointed by their inheritance.

• Tech was supposed to take everyone’s job. We’re still working. What happened?
• Locals are being priced out of Texas and Florida. Here’s where they’re looking for affordable homes instead.
• Tensions flare at Two Sigma over donations after Hamas attack.
• Marc Andreessen is getting raked over the coals for calling social responsibility the “enemy.”
• Coders are no longer the high-flying stars of Big Tech — and it’s making them grumpy.
• FBI says North Korea deployed thousands of IT workers to get remote jobs in the US with fake IDs.
• The 53 most promising climate tech startups of 2023, according to top VCs.
• 14 slides the WNBA’s Seattle Storm used to sell stakes that raised the team’s valuation to a record-setting $151 million.

The Insider Today Sunday team

Matt Turner, editor in chief of business, in New York City. Dan DeFrancesco, senior editor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Grace Lett, associate editor, in Chicago. Hallam Bullock, editor, in London. Lisa Ryan, executive editor, in New York City.

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