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Legendary Investor Warren Buffett Announces Plans To Retire; Trump Shrugs Off Recession Fears; Polls Open For Voters To Decide On Creation Of Starbase, Texas; Trump Cabinet Gives Musk A Seemingly Friendly Send-Off; Musk Says He Plans To Keep His Office In The West Wing; Prince Harry Says King Charles No Longer Speaks To Him. Aired 4- 5p ET

Aired May 03, 2025 - 16:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

FREDRICKA WHITFIELD, CNN HOST: Thank you so much for joining me today. I'll see you back here tomorrow. I'm Fredricka Whitfield. "THE CNN NEWSROOM" with Jessica Dean starts now.

ANNOUNCER: This is CNN Breaking News.

JESSICA DEAN, CNN HOST: You're in the CNN NEWSROOM. I'm Jessica Dean in New York.

And we do begin with breaking news as legendary investor Warren Buffett announces he's stepping down from his long held role as CEO of Berkshire Hathaway at the end of the year. It marks the end of an era in American capitalism. But that was not the only news from the Oracle of Omaha. At the same shareholders meeting Buffett made some of his most direct comments yet about Trump's tariffs, saying using trade as a weapon is a big mistake.

(BEGIN VIDEO CLIP)

WARREN BUFFETT, INVESTOR AND CEO, BERKSHIRE HATHAWAY: Trade should not be a weapon. I do think that the more, the more prosperous the rest of the world becomes it won't be at our expense. The more prosperous it will become and the safer we'll feel and your children will feel someday.

(END VIDEO CLIP)

DEAN: Let's bring in Dan Ives. He's the global head of tech research at WedBush Securities.

Dan, good to see you on this Saturday afternoon. A couple of things to get through on this news. I want to start first with Buffett's plans to retire. Help put this moment into perspective for all of us.

DAN IVES, GLOBAL HEAD OF TECH RESEARCH, WEDBUSH SECURITIES: I mean, you're talking about a legend. They will never be another Warren Buffett. I mean, he's been foundational to the market. I mean, you go through any of the periods over really the last 40, 50 years, I mean, Buffett played an instrumental role. Financial crisis, you go back to things that we saw in the '90s. I mean, any crisis moment, the red phone, you call Buffett. And ultimately it was really what Buffett said.

And I think that he changed the way that investors view the market. And he's the original GOAT when it comes to the market. And that's why, you know, he will never be replaced. It's an end of an era.

DEAN: Yes. And I thought it was so interesting, too, because at the same time we got that information for all the reasons you just explained, hearing what he had to say on the tariffs is very meaningful and people really do listen.

I want to play a little bit more of what he was saying on the use of tariffs.

(BEGIN VIDEO CLIP)

BUFFETT: There is no question that trade can be an act of war. And I think it's led to bad things. Just the attitudes it's brought out in the United States, I mean, we should be looking to trade with the rest of the world, and we should do what we do best, and they should do what they do best.

(END VIDEO CLIP)

DEAN: Dan, what kind of weight do his comments hold? Again, this is kind of the most direct we've heard from him since all of this has been going on.

IVES: Yes. And 40,000 people packed, watched. And look, you're talking about someone that presidents, leaders of countries around the world for decades within government have always looked to what Buffett says. So when he talks, everyone listens. That was a shot across the bow. I mean, that's about as negative as you're going to see Buffett in terms of what he's seeing in terms of the tariff trade war.

And I think those words you're going to hear throughout the week, because that -- everyone was waiting to hear what Buffett said about the trade war. And even though obviously, you know, retired at the end of the year, I mean, that -- those are words that will be heard around the world and around the market.

DEAN: I did think it was worth noting that he didn't name Trump or President Trump. He was not overtly political about this. He was trying to be, I think in listening to this, pretty just clinical about how he thought this could be impactful to the economy and to the broader global economy.

How thoughtful is he about that, or conscious is he that the impact that his words carry, and not to get too much into politics?

IVES: Yes, Jessica, I think that's also why he's outperforming the S&P by miles since 1965. He's returned 20 percent annual growth since 1965 because he doesn't get caught up in politics, in emotions. And he also knows that his words carry, if I could say, some of the most weight around the world. The reason he doesn't say Trump by name, he's viewing it very mathematically and just very logically in terms of trade and tariffs. And you know what he's saying will be felt in D.C. because Buffett, you can't just shoot those words away. When he talks, that's something we're going to hear. We're going to see that clip for weeks and months every time as we're going through this trade tariff war.

[16:05:06]

DEAN: And is that what you mean when you said it's a shot across the bow, like that's what you're talking about, that he knows what he's doing and he's being as pointed and direct as possible?

IVES: Oh, I mean he plays 40 chess. Others play checkers at the kids' table. That's why Buffett is the GOAT, right? And so when he does it, that's not just, you know, off the fly. I mean, that's his view. He's a globalist. And if you look at from Apple, you know, to Coke and so many of the other names of he's owned, you know, over the decades, he's a believer that markets are efficient, but you can't do inefficient things.

And that's why, you know, him being very anti-tariff, anti-trade war speaks to I think the broader view on Wall Street. You know, it's really viewed as all bad and really nothing good relative to the -- you talk about near term, what, four to five years, right, and that's kind of what Buffett did with that shot across the bow.

DEAN: All right Dan Ives, as always, thank you so much for being here.

IVES: Thank you.

DEAN: Giving us some context around this. We really appreciate it.

IVES: Thanks.

DEAN: And while we're hearing those comments from Warren Buffett, in a new interview, President Trump appears to be shrugging off concerns over his tariff policies and growing concerns about a potential recession that could come as a result.

CNN White House reporter Alayna Treene joining us now from West Palm Beach.

Alayna, what did the president have to say about this?

ALAYNA TREENE, CNN WHITE HOUSE CORRESPONDENT: Yes. So, Jessica, we heard the president sit down with NBC and "Meet the Press" yesterday. That interview was going to be airing in full tomorrow, but we got a clip of it to exactly your point, really hearing the president kind of downplay some of the concerns that many people, many analysts and experts on Wall Street are saying is the increasingly growing concern that there could potentially be a recession because of his trade policies.

Take a listen to how the president responded to it.

BEGIN VIDEO CLIP)

KRISTEN WELKER, NBC NEWS ANCHOR: Are you comfortable with the country potentially dipping into a recession for a period of time if you are able to achieve your long-term goals?

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Well, you know, you say some people on Wall Street say, well, I tell you something else. Some people on Wall Street say that we're going to have the greatest economy in history.

WELKER: Is it OK in the short term to have a recession?

TRUMP: Look, yes, everything is OK. What we are, I said this is a transition period. I think we're going to do fantastically.

(END VIDEO CLIP)

TREENE: Now, Jessica, this is kind of what we've been hearing now from the president for some time, him acknowledging that there would be short-term pain. But the reason I think this has garnered so much attention is because he is shrugging off this idea that there could be a recession, and many people are concerned that perhaps he's willing for the United States to enter one while he looks at the long-term strategy of his economic plan.

And when I talk to top Trump and White House officials behind closed doors, they say that his economic strategy is more of a mid to long term strategy, essentially saying in the immediate term, in the short term, yes, as the president himself has said, there is likely to be pain. You heard the president there in that interview say again that this is a transition period.

But I also want to bring you behind the scenes, because in some of my conversations as well, it's been very clear to me that within the Trump administration, many of the president's advisers have this growing concern. There's a lot of anxiety that's brewing behind the scenes about how this is all actually going to play out, particularly because they recognize they need to deliver some sort of good news to the American public to make them, as the president keeps saying to you, be patient.

They are worried about grocery prices. They are worried about, you know, the ability to afford everyday items. And that was made worse, actually, earlier this week when you heard the president kind of acknowledged that. He was talking about dolls and he said, sure, some dolls, you know, maybe kids are going to have two dolls instead of 30 dolls, and maybe those two dolls will cost a little bit more.

Really, the first time he talked about price increases on daily consumer goods. I mean, this is not the type of language that is reassuring Americans at a time when they're very concerned about their, you know, 401(k)s, about the stock market and overall inflation as well.

DEAN: Yes. And on an issue that has been such a strong issue for President Trump on the economy that Americans really did trust him to do right by them and bring down the cost of living.

Alayna, I want you to stay with us. We're joined now by senior politics reporter for Axios, Alex Isenstadt. Alex, thanks so much for being here with us as well. Yesterday, just

to build on what Alayna is talking about right there, we got a stronger than expected jobs report for April, which obviously the Trump team is celebrating. That is good, welcomed news. It is a piece of good data for them. But at the same time as Alayna is talking about they are, it appears, some eyes wide open about what could be coming down the pike.

Take us inside, Alex, what does this mean when they get a nugget like that that is better news than expected? How much does that embolden President Trump to push ahead when he's already doubling down, tripling down on some of these policies that he know could bring economic pain?

[16:10:10]

ALEX ISENSTADT, SENIOR POLITICS REPORTER, AXIOS: Yes, I know. The White House is going to grasp onto any evidence of good economic news that it can. But at the same time, they're getting feedback from a lot of big businesses that they could be hit pretty hard by tariffs. There was a meeting a couple weeks ago with big box retailers in the White House, and the CEOs told Trump, look, this is going to hit us hard. They showed him images of empty store shelves, showing him what the implications of these tariffs could be.

So Trump is getting a lot of feedback from people in the big business community. And at the same time, you've seen him soften his posture a little bit on tariffs, showing some flexibility for exemptions, saying that he's looking forward to working with China. And so yes, he's going to continue on with the tough talk about, yes, there's going to be pain, at least in the short term. But what's going to be interesting to see is how much pain is he willing to take. This is a guy who's very sensitive to markets.

DEAN: Mm-hmm. And Alayna, I think that that is really the big question. Right? Where is the president's pain point when it comes to this? How much are they willing to take? And I think you're reporting there about how they are starting to kind of talk amongst themselves about what this could mean for everyday Americans with cost of living and prices, the doll comments.

What is your sense, Alayna, of what their pain point is here and how much they are open to that meeting that Alex was just talking about when he's sitting down with these CEOs and they're explaining this to them? What is your sense of how much that's getting through?

TREENE: I'll put it this way. Not everyone is in agreement about how this is supposed to go. When I talk to top, you know, economic officials at the White House, when you hear what they've been saying this week, I mean, some people recognize, like I said, that there's a lot of pressure building that they have to deliver some sort of good news.

That kind of good news is actually supposed to come in their minds in way of a trade deal announcement. We've now heard repeatedly from the president's top economic advisers, from the Treasury secretary, the Commerce Department secretary, to the president himself, all saying that they expect a deal with India or some other country in the near term.

We actually ended this week, a week, I would note, where the president was trying to celebrate his first 100 days in office, a lot of people thought there could be some sort of deal announced. We did not have one. We ended the week without one. So it's different. There's different people behind the scenes who feel differently about this. But what is very much clear is that they haven't reached that point yet.

And the president very much does believe that this -- his tariff plan is a resetting of some sorts. He often refers to it as the resetting of the table. He wants to genuinely break the way that trade has been done, the global economic order, and reshape it, because he believes that other countries are being unfair to the United States. Many people in the White House recognize that is not something that is going to happen overnight.

They know it's going to be something that has to play out long term. And the president really does believe that in the end, this is all going to work out, even though in the short term that's not really what we're seeing.

And one thing as well, just to Alex's point, because it's a great one about the president being very reactionary to how things are going. I mean, you know, it is different this time around, and the palpable, like the difference in how the president is responding to this is very palpable at the White House. Back in during his first term, in his first administration, he used to dictate policy, Jessica, by how it was performing in the stock market.

He is very much not doing it this time around, even though we did see him, you know, press pause on some of these tariffs, give them 90 days after we saw the bond market kind of go crazy. But overall, repeatedly, I'm told in my closed door conversations that he is very much committed to this.

DEAN: And Alex, then, OK, pushing this a little bit further in terms of what we could expect for the economy if you're an American out there and what you're trying to kind of grasp with. Now we turn to Capitol Hill. We turn to the president's agenda and them trying to kind of sort through all of this with Congress. Trump releasing his budget proposal yesterday, calling for $163 billion to be cut from non-Defense and domestic programs.

And that could include a host of things. We're still trying to kind of figure out exactly what that might be. Climate research, education funding, NIH, CDC. Questions about if this could affect Medicaid in any way, shape or form. How does the president intend to navigate and his administration intend to navigate through all of that, which could also have real impacts on a lot of people, both who voted against him but also voted for him?

ISENSTADT: So this was an interesting development over the last couple of days because the White House released its budget. And then you have some pushback from several senators on Capitol Hill. Something we haven't seen yet in this administration. Roger Wicker, Mitch McConnell, Susan Collins all put out attacking Trump, criticizing the administration for cuts it's proposing, especially on military spending.

[16:15:11]

I thought this was interesting just because we haven't seen a lot of pushback from Capitol Hill Republicans to Trump. And the question is, is if you continue to see Trump's numbers slide, and we saw a lot of polling over the last week showing Trump's approval numbers going down as he hit his 100-day mark, if you continue to see Trump's approval ratings going down, does (INAUDIBLE) for more criticism from Republicans on Capitol Hill?

I thought that was really interesting development over the last couple of days as it related to Trump's unveiling of his budget.

DEAN: Yes, and certainly a dynamic we are going to have to watch.

Alex and Alayna, thank you so much for your time. We appreciate both of you.

And still ahead, voters will decide today whether the Texas launch site for Elon Musk's SpaceX will become its very own city. What residents of Starbase are saying about it?

(BEGIN VIDEO CLIP)

ED LAVANDERA, CNN CORRESPONDENT: ED LAVANDERA, CNN SENIOR NATIONAL CORRESPONDENT: So you're going to be one of the original settlers of Starbase, Texas?

NTHONY GOMEZ, MANAGING PARTNER, ROCKET RANCH: I hope so. Yes.

LAVANDERA: I guess that's the way --

GOMEZ: I hope so. Pioneers. Pioneers. Yes.

LAVANDERA: Do you feel that way, or is that being --

GOMEZ: It feels like manifest destiny sometimes.

(END VIDEO CLIP)

DEAN: Plus a travel nightmare at Newark Airport. We are live as air traffic control staffing issues continue to cause major delays. We'll have an update for you.

You're in the NEWSROOM.

(COMMERCIAL BREAK)

[16:21:04]

DEAN: Officials are investigating the aborted landings of two commercial flights at Reagan National Airport Thursday. An FAA report says the U.S. Army Blackhawk helicopter took a, quote, "scenic route" around the Pentagon nearby, coming very close to those passenger jets. New video shows the Blackhawk nearly missing one of them. This helicopter was part of the same unit as the Blackhawk involved in the January 29th mid-air collision that killed 67 people.

Travelers flying through Newark Airport this weekend are now experiencing the sixth day of delays there. The FAA imposing the ground delays, some lasting for more than two hours because of shortages in air traffic control staffing. United Airlines says it will cancel 35 roundtrip flights every day starting this weekend.

CNN's Leigh Waldman is at Newark Liberty Airport.

And, Leigh, what are officials saying?

LEIGH WALDMAN, CNN CORRESPONDENT: Jessica, good to be with you. Officials are saying it's a combination of issues, old technology and staffing shortages when it comes to those air traffic controllers. We're seeing waves of travelers come through the area and the airport we're in right now. We checked the flight board itself. It is littered with delayed and canceled flights. According to the flight tracking Web site FlightAware, 278 flights have been delayed here from Newark and 78 have been canceled as of this point.

We know that United is actually changing their flight schedule, canceling 35 round trip flights from Newark Airport because of staffing shortages with those air traffic controllers they say have been around for years. We talked to some passengers getting off their flights today about this issue.

(BEGIN VIDEO CLIP)

JONATHAN NORRI, TRAVELING: We have a lot of travel coming up, so hopefully they can resolve this quickly.

IZABELA OLITO, TRAVELING: I think it's time to hire a new, more experienced staff. I'd be more confident in that.

(END VIDEO CLIP)

WALDMAN: Now, across all of the United States, there is a 3,000 staff shortage when it comes to those air traffic controllers. We heard from the union that represents those air traffic controllers. They said this is nearly the worst that they've seen this shortage in 30 years, and they predict it will be eight to 10 years before they make up the staffing numbers.

We also heard from the Transportation secretary this week who said that they're working on incentive programs to try and get people into this field. That includes a $5,000 bonus for people who make it through the academy, and also incentivizing people to stay until they reach that retirement age.

But, Jessica, we also know there's some weather coming in to this area later on today. So that will add to some of those travel delays that we're already seeing from this airport.

DEAN: Yes, quite a predicament there. Leigh Waldman at Newark Airport. Thank you so much for that reporting.

After 100 days working with the Trump administration, Elon Musk is preparing to go back to his day job. But has Washington seen the last of the world's richest man?

You're in the CNN NEWSROOM.

(COMMERCIAL BREAK)

[16:28:22]

DEAN: As Elon Musk steps away from his duties in Washington, he soon may have a new city to call his own in Texas. Polls are now open for voters deciding on whether to create a new city called Starbase, where SpaceX is largely based, with many of the nearly 300 people who can vote working for SpaceX. The measure is expected to pass, and that has some nearby neighbors concerned.

CNN's Ed Lavandera has more on this.

(BEGIN VIDEOTAPE)

LAVANDERA (voice-over): There's only one way on land anyways to reach SpaceX. For generations, Highway 4 was the road less traveled.

RENE MEDRANO, LOCAL LANDOWNER: When we bought out here, all of this is dirt road.

LAVANDERA: And for Rene Medrano, traveling the path less taken to a hidden beach at the southernmost tip of Texas has made all the difference in his life. But this retired high school coach fears Elon Musk and SpaceX are taking too much control over who can access this part of their world.

MEDRANO: People want to go to Mars. Let them go to Mars. There's people that want to go to the beach and enjoy Boca Chica Beach. OK? Let's compromise.

LAVANDERA: The latest chapter in SpaceX development is an election on Saturday to make this high-tech outpost an official city. If approved, the city limits would stretch from the Texas Coast inland along Highway 4. Residents here will also elect a mayor and two commissioners, all connected to SpaceX, and are running unopposed.

This is the entrance to what is poised to become the newest city in Texas made in the image of Elon Musk, if you will. It is Starbase, Texas.

(Voice-over): In recent years, a well-manicured neighborhood has sprouted in this marshy coastal plain. There are airstream trailers, single-family homes, rows of freshly planted palm trees. SpaceX employs more than 3,000 people in this facility. This will be the proverbial company town. [16:30:14]

Jared Hockema is a local Democratic Party official and City Manager of nearby Port Isabel.

(On camera): What is your concern with Starbase becoming a city?

JARED HOCKEMA, PORT ISABEL CITY MANAGER: SpaceX is great. It's brought a lot of jobs. The question always comes back, are you using public power to benefit a private interest?

LAVANDERA (voice-over): Every time SpaceX launches or moves rocket parts, Highway 4 is closed down. The company needs to get permission from local county officials, but SpaceX and some Texas lawmakers want to give SpaceX more control of the road closures and access to the nearby beach.

As we drove the public streets of Starbase, a security guard started following us around. We wrapped up our work and moved along. SpaceX and the candidates running for public office did not respond to CNN's requests for comment.

(On camera): So you're going to be one of the original settlers of Starbase, Texas?

ANTHONY GOMEZ, MANAGING PARTNER, ROCKET RANCH: I hope so. Yeah.

LAVANDERA: I guess that's the way.

GOMEZ: I hope so. Pioneers, yeah.

LAVANDERA: Do you feel that way or --

GOMEZ: It feels like manifest destiny sometimes.

LAVANDERA: Anthony Gomez runs a business called Rocket Ranch. Hundreds of people come to this observation point on rocket launch days.

GOMEZ: We do launch observations. It's the closest place to see it from America.

LAVANDERA: 3.7 miles away. So when that rocket takes off, the big one.

GOMEZ: You can feel it. Yeah, your entire -- I mean, every molecule in your body vibrates with joy. It's amazing.

LAVANDERA: Gomez says turning Starbase into a city will help Elon Musk and SpaceX make even greater progress in space travel.

GOMEZ: They're moving at an incredible pace. The most important thing about this mission is that it's time sensitive, like humanity is finite. Consciousness is finite. We have to move quickly.

LAVANDERA: As we reached the beach with Rene Medrano, he pointed out SpaceX wants approval for up to 25 launches a year. And why he fears where this development is headed. (On camera): Do you worry about what Elon Musk and SpaceX is up to by trying to create this city?

RENE MEDRANO, LOCAL LANDOWNER: The number one thing that I think a lot of people are worried about is to get to SpaceX, have a gate, and it says closed forever. And then now we can never, ever enjoy the beach that we have now.

LAVANDERA: Ed Lavandera, CNN, Boca Chica, Texas.

(END VIDEOTAPE)

DEAN: And while Musk turns his attention back to Tesla and other projects, the stage is set for him to exit DOGE and the White House. At a cabinet meeting a few days ago, Musk was given a seemingly friendly send-off. Musk's tumultuous tenure during President Trump's first 100 days in office saw him clash with other cabinet secretaries over deep spending cuts.

And while he promised to cut $2 trillion in government spending, so far they've missed the mark on that, meeting only 8% of that goal with $160 billion in cuts so far. I want to bring in Faiz Siddiqui, technology reporter with "The Washington Post" and author of "Hubris Maximus: The Shattering of Elon Musk."

Thanks so much for being here with us. So Musk has been truly a fixture in the Oval Office, on Air Force One, in Washington. Now that he is stepping aside or turning his attention, let's say, back to his original business, do you think he still has unfinished business in Washington?

FAIZ SIDDIQUI, AUTHOR, "HUBRIS MAXIMUS: THE SHATTERING OF ELON MUSK": Siddiqui, Faiz: Hey, thanks for having me. Yeah, I mean, this sort of arrangement with Musk, we've seen it before. There was a ton of pressure on him to return his attention to Tesla after his purchase of Twitter in 2022. As we got into 2023 and, you know, some of the scandals with Twitter piled up, some of his decision making was questioned. He had to return his attention to Tesla. He enters politics.

You know, there is some blowback. He asked to, you know, right the ship seemingly at Tesla and remains to be seen if he will return to Washington in this capacity. But it certainly has not been a clean break. He is still going to keep some attention on the political and, you know, government situation.

DEAN: And you've said before, in your opinion, Musk has a habit of over promising, under delivering. Would you -- where would you say DOGE and what's gone on with DOGE fits into that?

SIDDIQUI: It does feel like, you know, that aim high and see where you land sort of strategy, which is, you know, a Musk trademark. It's like if you set the goal high enough, you will end somewhere, you know, close to where he wants you to be. But in this case, as you know, you know, 160 billion dollars is pretty far from the mark of a trillion, despite being a massive amount of money. Of course, those figures, even those figures, you know, require some independent vetting, right? And so they say 160 billion. That suggests they're very far, even from their initial target.

DEAN: Are you surprised that Musk is now leaving to turn his attention back to Tesla and that he's leaving kind of that? This is this is how he's leaving things. Or does this seem about right to you?

[16:35:05]

SIDDIQUI: This seems pretty consistent. And, you know, that's not necessarily a criticism of his style. It's just, you know, the style sometimes requires these extreme measures that result in severe blowback. And that result in the kind of scrutiny that, you know, he's not necessarily comfortable with. And it gives him kind of an opening to say, OK, actually, what I need to be doing is getting back to my company.

DEAN: And Musk has compared himself to Buddha in his exit interview with reporters. In your book, you report one of his early investors said Musk compared himself to Alexander the Great, calling him the re -- call himself the reincarnation of his spirit. Do you think how do you think history is going to judge Musk on when you know, obviously, he's comparing himself to these legendary figures. How do you think history will judge Musk in his time in the government?

SIDDIQUI: I think it'll see the whole picture. Obviously, you know, history is filled with examples of individuals who inspired many and, you know, innovated. But obviously, you know, there was also the reality of that figure, you know, reflected in how we talk about them.

Obviously, you know, the portrait of Musk is not completely unblemished the way it might have been, let's say, you know, seven, eight years ago or a decade ago. And that's a risk that he took when he got involved in politics. I think, you know, people might have mixed opinions of that foray into politics. But again, you know, I think his history will increasingly reflect the whole picture with Musk.

DEAN: And we know that he's returning to -- to Tesla in a moment in time where they we've seen there that company's stock fall sharply. We've seen its car sales drop by 20% in the last quarter in terms of him returning there and trying to recover on the business front. How do you think that's going to go?

SIDDIQUI: So the investors are certainly pleased to see him return his attention to the company. It faces a lot of challenges. It also is embracing new bets on robotics and artificial intelligence. So it's going to have to deliver on some of those. I mean, it's going to have to do so quite soon just to convincingly, you know, suggest that Elon's full attention is on the company again and that the company is as innovative as its plans suggest it is.

But, you know, I've learned -- you know, even in covering him and critically at times, you know, you don't bet against the guy. You just have to sort of, you know, hedge the bet a little bit, you know, swallow your pride. Don't bet against the guy, but be realistic about what's achievable.

DEAN: All right, Faiz Siddiqui, thanks so much for your time. We appreciate it.

SIDDIQUI: Thank you so much.

DEAN: A stunning admission from Prince Harry about his father, King Charles, who's battling cancer.

(BEGIN VIDEO CLIP)

PRINCE HARRY, DUKE OF SUSSEX: He won't speak to me because of this security stuff, but it would be nice to -- it would be nice to be -- nice to reconcile.

(END VIDEO CLIP)

DEAN: What else he's saying about the king and his family. You're in the CNN Newsroom.

(COMMERCIAL BREAK)

[16:40:04]

DEAN: Prince Harry is speaking out about his relationship with the royal family in a revealing interview with the BBC. The Duke of Sussex was visibly emotional at times, saying he was devastated by this court-ruling Friday not to restore his and his family's security arrangements when they visit the U.K. He also spoke about the possibility of reconciling with his father, King Charles.

CNN's Max Foster has the latest.

(BEGIN VIDEOTAPE)

PRINCE HARRY: I would love reconciliation with my family.

MAX FOSTER, CNN ROYAL CORRESPONDENT (voice-over): Prince Harry revealing he no longer speaks to his father, King Charles, in an explosive BBC interview.

PRINCE HARRY: There's no point in continuing to fight anymore. As I said, life is precious. I don't know how much longer my father has. He won't speak to me because of this security stuff. But it would be nice to reconcile.

FOSTER: The Duke of Sussex spoke to the BBC after losing a court case over his security arrangements when he and his family visit the United Kingdom. Harry saying Friday's ruling makes it impossible for his family to return to the U.K.

PRINCE HARRY: Obviously pretty gutted about the decision. We thought it was going to go our way. I can't see a world in which I would be bringing my wife and children back to the U.K. at this point.

FOSTER: The British government downgraded Prince Harry's security in 2020 after he and Meghan stepped down as working royals and moved to California where they're raising their children, Prince Archie and Princess Lilibet.

PRINCE HARRY: When that decision happened, I couldn't believe it. The one thing that I could rely on is my family keeping me safe.

FOSTER: A palace spokesperson issued a statement about the court's ruling telling CNN issues raised by Harry in the interview were examined repeatedly and meticulously by the courts with the same conclusion reached on each occasion. The Duke of Sussex also talked about the years-long rift with the royal family. He said the publication of his book "Spare" in 2023 ripped open old wounds after he shared scathing and intimate details about his experience as a royal.

[16:45:18]

PRINCE HARRY: Of course, some members of my family will never forgive me for writing a book. Of course they will never forgive me for lots of things.

FOSTER: But losing this case, Harry said, is a sticking point.

PRINCE HARRY: The only thing that I've been asking for throughout this whole process is safety. I love my country. I always have done. Despite what some people in that country have done.

(END VIDEOTAPE)

FOSTER (on camera): At the heart of this case, Jessica, is Prince Harry effectively saying he was treated unfairly by the British establishment and his father sits at the center of that establishment. The establishment from the judiciary and to the monarchy as well making it very clear that they don't feel he's been treated unfairly in this case.

Jessica.

DEAN: Max Foster, thank you for that.

Preparation for the upcoming conclave to elect a new pope is now underway. New video showing Vatican workers installing the chimney in the Sistine Chapel. During the May 7th conclave, the ballots of the cardinals are burned into a special furnace after every two rounds of voting and then chemicals are mixed with the ballots to produce black smoke if no pope is chosen and white smoke if there is indeed a new pope. The video also shows workers bringing in wooden tables where the cardinals will sit and begin casting their votes on Wednesday.

Their plane crashed into alligator-infested waters. So how did five survivors stay alive for two days before rescuers could reach them? You're in the CNN Newsroom.

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[16:51:24] DEAN: Five people have been rescued from a Bolivian swamp filled with alligators two days after their plane crashed into the Amazonian jungle. The small aircraft went down Wednesday. It wasn't until Friday morning before the pilot, three women, and a child were found. They said they survived on chocolate and flour. The pilot says fuel that spilled after the crash contaminated the water and actually helped keep alligators away. Shockingly, no one was seriously hurt.

Today will be the 151st running of the Kentucky Derby, the first leg of horse racing's famed Triple Crown, and the horses are set to enter the gates at Churchill Downs. The bookie's favorite for this year's race is journalism at 3-1. Journalism coming off the back of three consecutive wins and hopes to buck the recent trend of outsiders winning the derby. There is a lot of rain in Louisville today, so it will be muddy. More than 150,000 people are expected.

In the new CNN original series, My Happy Place, six celebrities take you along for the ride as they travel to places that have become their safe havens. In honor of that new series, our colleague, CNN anchor Erin Burnett, is sharing her happy place. It's the Strand Bookstore right here in New York City.

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ERIN BURNETT, CNN ANCHOR (voice-over): The Strand, a New York bookstore as busy and as famous as the city itself. Boasting 18 miles of books, the store is so big that even the owner still finds hidden treasures.

NANCY BASS WYDEN, OWNER, STRAND BOOKSTORE: You know what I found on the shelves? A signed copy by Helen Keller. I found it over there.

BURNETT: That's incredible. So even for you in here, there are mysteries. And customers always tell us things that they'll find.

WYDEN: There was one book that my dad found. He opened it up, and there was a bullet.

BURNETT: A bullet lodged in the book.

WYDEN: Yes.

BURNETT (voice-over): New Yorkers and tourists come from all over, hoping to find their own prizes. I've been visiting since I was a kid, and I've always felt like I'm entering somewhere magical to find something secret. And that's why the Strand is my happy place.

(On camera): I grew up in the middle of nowhere. I remember coming with my parents, because we would come to New York City every Christmas. And I feel like it hasn't changed.

(Voice-over): Nancy Wyden grew up in this store. She's the third- generation owner of Strand.

WYDEN: Here's Grandpa.

BURNETT: Oh, wow.

WYDEN: This place is just filled with so much history. And to be in one family for 100 years, I think, is kind of phenomenal.

BURNETT (voice-over): It is really. Over the years, the Strand has become a New York icon, appearing in films and TV shows. Even the books themselves have show credits. Customers can check any book to see what production it might have been rented out for. Shoppers can find new books, weird books, used books, and rare books.

(On camera): Yeah, this is something I've never seen before.

WYDEN: Our most expensive book is this one. It's Ulysses. It's signed by Henri Matisse and James Joyce.

BURNETT: Wow.

(Voice-over): This incredibly rare copy is worth $45,000.

WYDEN: It feels like there's magical potions in here.

BURNETT: May I touch?

WYDEN: Yes.

BURNETT: Okay.

What's happening to bookstores now?

WYDEN: I mean, there are less and less of them. I think we have to just kind of continue with our past and our mission to put good books in the hands of readers and change with the times, too, and have fun with it.

BURNETT: And Wyden is having fun with it, embracing new platforms like TikTok to get young readers in the door.

(On camera): We've got Percy Jackson meets Indiana Jones.

UNIDENTIFIED MALE: This is exactly what I was looking for.

BURNETT (voice-over): It's important to pass down the magic of stumbling on a good book in a store, which is why I always bring my kids here during the holidays, just like my parents used to bring me.

[16:55:01]

(On camera): What's the main character's name?

UNIDENTIFIED MALE: Jackie Robinson.

BURNETT: Jackie Robinson, yeah.

UNIDENTIFIED MALE: I like just stumbling on a book.

BURNETT: You like just stumbling on a book? UNIDENTIFIED MALE: Yeah.

BURNETT: All right, you can go pick one more.

(END VIDEOTAPE)

DEAN: That is so fun. On this week's new episode, Taraji P. Henson finds peace in Bali, Indonesia.

Make sure to tune in for a new episode of the new CNN Original Series, My Happy Place. It's this Sunday at 10 p.m. Eastern and Pacific, only here on CNN.

Serving as the nation's top diplomat is not the only job Marco Rubio has right now. Today begins his first day as acting national security advisor to President Trump as well. And that's not all. We talk more about it. You're in the CNN Newsroom.

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