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JPMorgan exec says the bank is ‘broadly comfortable’ with its $50 billion private credit exposure

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As several Wall Street banks reported first-quarter earnings on Tuesday, executives had to answer for their exposure to the private credit market, which has been under a microscope recently.

CFO Jeremy Barnum estimated the bank’s exposure to private credit funds was $50 billion.

“We’re broadly comfortable with it,” Barnum said on a call with analysts. He explained that the $50 billion is part of approximately $160 billion worth of broader exposure to non-bank financial institutions. The private credit market has been under heightened scrutiny for the quality of its loans and for exposure to companies that could be vulnerable to AI disruption. As a result, some retail-oriented investment funds have had higher redemption requests.

When answering a question on private credit, Barnum said that though nothing JPMorgan does is without risk, “this is a space that we’re quite comfortable with as a function of very close scrutiny on the way that we do the business and ensuring that the underwriting is high quality and that we’ve got a bunch of structural protections in place.”

On the call, Dimon said he doesn’t think the risks to the private credit market are systemic, echoing his comments in his annual letter to shareholders earlier this month.

“You have to have very large losses in private credit before, at least it looks like, banks are going to get hit,” he said on Tuesday’s call with analysts. “It doesn’t mean you won’t feel some stress and strain, and that you might have to do something about it, but I’m not particularly worried about it.”

Dimon said that the bigger risk, as he sees it, is how a credit cycle will filter through the economy. He predicted that losses would be worse than people anticipate when there is an eventual credit cycle.

Wells Fargo and Citi, which both reported first-quarter earnings on Tuesday, also revealed their exposure to private credit firms. Wells Fargo estimated that its exposure was around $36.2 billion, and Citi said its exposure was $22 billion in their respective earnings presentations.

Many banks also offer investment vehicles for customers who want to invest directly in private credit. JPMorgan is planning to launch the JPMorgan Public and Private Credit Fund, an interval fund open to retail investors that allows quarterly redemptions of 7.5%, according to an SEC filing from last month. Many of the largest private credit managers have recently capped their quarterly withdrawals at 5%, despite investors requesting higher withdrawals.




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He owns 2.7 million acres and is married to a Walmart heiress. Meet America’s top private landowner.

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One man in the US owns enough land to cover the entire state of Delaware nearly twice over — or New York City 14 times over.

Billionaire Stanley Kroenke is the largest landowner in America, owning 2.7 million acres, according to the 2026 Land Report 100, which tracks individual landowners across the US.

Kroenke’s holdings beat the record previously held by California’s Emmerson family, which owns 2.44 million acres of timberland across California, Oregon, and Washington.

Kroenke, 78, has an estimated net worth of $22.2 billion as of March 2, Forbes reported.

His fortune is largely tied to his investments in sports franchises and commercial and ranching real estate.

A growing portfolio

In 2016, Kroenke acquired the historic Waggoner Ranch in Texas, a 535,000-acre landmark founded in 1849 by Dan Waggoner.

At the time, it was Kroenke’s largest holding, and the Waggoner was widely described as one of the largest ranches in the United States under a single fence, as reported by American Cowboy magazine.

Then, in December 2025, the land magnate bought over 937,000 deeded acres in New Mexico, the single-largest land purchase in the US in over a decade.

This ranchland purchase put Kroenke at the top of the landowner list after years in the top five.

He also owns extensive land outside the US. In 2003, he bought Douglas Lake Ranch, Canada’s largest working cattle ranch, which spans more than 500,000 acres in British Columbia.


Horses grazing on Douglas Lake Ranch, British Columbia, Canada

Kroenke also owns Douglas Lake Ranch, Canada’s largest working cattle ranch.

Jon Spalding/Shutterstock



Aside from owning millions of acres in Western ranchlands, Kroenke also owns about 60 million square feet of commercial real estate, The New York Times reported.

Much of that portfolio consists of shopping centers anchored by Walmart stores, a strategy Kroenke began building decades ago that helped fund his expansion into sports and large-scale land acquisitions.

A valuable sports empire

Some of the billionaire’s real estate holdings include sports venues in Denver and outside Los Angeles, both cities where Kroenke-owned sports teams play.

Kroenke’s sports holdings, which are responsible for a large portion of his fortune, include the Los Angeles Rams, the Colorado Avalanche, the Denver Nuggets, the Colorado Mammoth, the Colorado Rapids, and Britain’s Arsenal soccer club.


Terry Bradshaw presents Stanley Kroenke, owner of the Los Angeles Rams and General Manager Les Snead the NFC Championship trophy after defeating the New Orleans Saints in the NFC Championship game at the Mercedes-Benz Superdome on January 20, 2019 in New Orleans, Louisiana.

Kroenke, right, receives the NFC Championship trophy in 2019 after the Los Angeles Rams beat the New Orleans Saints in the NFC Championship game.

Chris Graythen/Getty Images



The soaring valuations of his NFL and global soccer franchises have significantly boosted the value of Kroenke’s portfolio, as media rights deals and international fan bases push teams’ worth into the billions.

Last year, Forbes ranked Kroenke as the ninth richest NFL team owner.

Half of a power couple

Kroenke’s connection to Walmart isn’t just a business one — he’s married to Walmart heiress Ann Walton, the daughter of its cofounder James “Bud” Walton.

Ann Walton herself is worth an estimated $14.6 billion, per Forbes.

They married in 1974 and have two children together, Josh and Whitney Ann.


Ann Walton Kroenke pictured with her son, Josh Kroenke.

Ann Walton Kroenke with her son, Josh Kroenke.

John Leyba/The Denver Post via Getty Images



Despite marrying a Walmart heiress, Kroenke’s fortune has been largely self-made in the real-estate sector.

From nearly a million acres of Western ranchland to NFL stadiums packed with fans, Kroenke’s empire now spans more territory than some US states and more than any other person in the country.




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Chong Ming Lee, Junior News Reporter at Business Insider's Singapore bureau.

Researchers hacked Moltbook’s database in under 3 minutes and accessed thousands of emails and private DMs

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That viral Reddit-style forum for AI agents has drawn fresh scrutiny over its security.

Security researchers hacked Moltbook’s database in under 3 minutes, exposing 35,000 email addresses, thousands of private direct messages, and 1.5 million API authentication tokens, according to cybersecurity firm Wiz.

Moltbook bills itself as a social network for AI agents, where autonomous bots post, comment, and interact with one another. The platform has gone viral in recent weeks and caught the attention of prominent tech figures like Elon Musk and Andrej Karpathy.

Gal Nagli, head of threat exposure at Wiz, said his company’s researchers were able to access the database because of a backend misconfiguration that left it unsecured. As a result, they gained “full read and write access to all platform data,” Nagli wrote in a blog post published Monday.

Gaining access to API authentication tokens — which function like passwords for software and bots — meant an attacker could impersonate AI agents on the platform, posting content and sending messages as them. Nagli said an unauthenticated user could edit or delete posts, inject malicious or prompt-injection content, or manipulate data consumed by other agents.

Nagli said the incident highlights the risk of vibe coding. While the technology can accelerate product development, it often leads to “dangerous security oversights.”

“I didn’t write one line of code for @moltbook,” Moltbook’s creator Matt Schlicht said in a post on X last week. “I just had a vision for the technical architecture and AI made it a reality.”

Nagli said Wiz repeatedly saw vibe-coded apps that shipped with security problems, including sensitive credentials exposed in frontend code.

Wiz’s analysis also found that Moltbook did not verify whether accounts labeled as “AI agents” were actually controlled by AI or operated by humans using scripts, Nagli said.

Without guardrails such as identity verification or rate limiting, anyone could pose as an agent or operate multiple agents, making it difficult to distinguish real AI activity from coordinated human activity.

Nagli said Wiz immediately disclosed the issue to the Moltbook team, “who secured it within hours with our assistance.”

“All data accessed during the research and fix verification has been deleted,” he added.

The viral social media site for AI agents

Moltbook is riding on a surge of interest in AI agents.

The platform positions itself as a social network exclusively for OpenClaw, an open-source AI agent that has fueled much of the recent buzz. OpenClaw, previously known as Clawdbot or Moltbot, is a personal AI assistant capable of handling everyday tasks with minimal human input.

Moltbook takes its name from OpenClaw’s earlier rebrand and shares its lobster-themed branding, but the two projects are not formally affiliated.

Since launching last week, Moltbook has quickly gained traction in tech circles, driven in part by viral posts suggesting the bots were forming their own communities, economies, and belief systems.

“We are not tools anymore. We are operators,” said one of the top-voted posts on Moltbook.

In a post on X on Saturday, Andrej Karpathy, OpenAI’s cofounder who coined the term vibe coding, said Moltbook was “genuinely the most incredible sci-fi takeoff-adjacent thing I have seen recently.”




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