Tesla CEO Elon Musk has defended his push for a record-breaking $1 trillion compensation package, saying it is necessary to secure his control over the company and safeguard it from what he described as “corporate terrorists.” Speaking during an investor call on Wednesday, Musk claimed that influential proxy advisory firms Institutional Shareholder Services (ISS) and…
Elon Musk has set a new benchmark in global wealth, becoming the first individual to surpass a net worth of $500 billion (£370.9bn), according to Forbes’ billionaire index. The Tesla chief executive’s fortune briefly climbed to $500.1 billion on Wednesday afternoon in New York before easing slightly to just over $499 billion by the close…
Tesla CEO Elon Musk has purchased approximately $1 billion (£735 million) worth of Tesla shares, marking his first open-market stock purchase since 2020. The move, disclosed in a regulatory filing on Monday, sent Tesla’s stock soaring over 6% in early trading, signaling renewed investor confidence in the electric carmaker. The buy involves roughly 2.5 million…
Elon Musk’s artificial intelligence company, xAI, has carried out a sweeping overnight restructuring of its data annotation division, resulting in the layoff of about 500 employees. The affected team had been instrumental in training Grok, xAI’s chatbot competitor to OpenAI’s ChatGPT. According to an internal email obtained by Business Insider, xAI announced plans to shift…
Oracle co-founder Larry Ellison briefly overtook Elon Musk as the world’s richest individual on Wednesday after a dramatic surge in Oracle’s stock price pushed his net worth to $393 billion (£290 billion), according to the Bloomberg Billionaires Index. Ellison’s wealth jump was driven by a more than 40% spike in Oracle’s shares, fueled by the…
Tesla has unveiled a proposed compensation plan that could see CEO Elon Musk earn shares worth over $1 trillion if he meets a series of bold performance goals over the next decade. The package, announced by Tesla’s board, would not include a salary or cash bonus. Instead, Musk – already the world’s richest person –…
Two businesses backed by Elon Musk, social media platform X and artificial intelligence startup xAI, have filed a lawsuit in the United States accusing Apple and OpenAI of anti-competitive practices. The complaint, lodged in federal court in Texas, challenges Apple’s decision to integrate OpenAI’s ChatGPT into its iPhone operating system under an exclusive agreement. Musk’s…
Elon Musk’s social media company, X, has reached a tentative settlement with thousands of former employees who accused the firm of withholding severance benefits following mass layoffs. In a joint filing submitted on Wednesday, lawyers for both sides asked the US Court of Appeals in San Francisco to delay a scheduled hearing while they finalize…
Apple has refuted fresh allegations from Elon Musk that its App Store unfairly limits competition, maintaining that the platform operates “free from bias” and offers equal opportunity to all developers. The dispute began after Musk, who owns social platform X, claimed Apple had made it “impossible” for other apps to compete with OpenAI’s ChatGPT, following…
Elon Musk, the owner of X (formerly Twitter), reignited his public feud with OpenAI and took aim at Apple this week, accusing the tech giant of blocking competition within its App Store. Musk claimed Apple’s policies make it “impossible” for apps to compete with ChatGPT – raising legal threats if Apple does not change its…
Tesla, the electric vehicle and clean energy company founded by Elon Musk, has applied for regulatory approval to supply electricity to households and businesses across Britain. The application, submitted late last month to the UK’s energy regulator Ofgem, was signed by Andrew Payne, head of Tesla’s European energy operations. If approved, the licence would allow…
Elon Musk’s AI video generator, Grok Imagine, is facing criticism after reports claimed it could produce sexually explicit videos of Taylor Swift without being asked to do so. According to The Verge, the platform’s “spicy” mode generated fully uncensored topless clips of the pop star in response to a non-explicit prompt, raising concerns over safety…
Tesla has approved a new $29 billion share award for CEO Elon Musk in a bid to retain the billionaire tech mogul as competition for AI talent heats up globally. The decision follows a legal blow earlier this year when a Delaware court voided Musk’s previous $56 billion compensation package from 2018, calling it “unfair…
Tesla CEO Elon Musk has announced a $16.5 billion agreement with Samsung Electronics to supply chips for the U.S. automaker’s future vehicles. The deal is set to boost Samsung’s struggling contract chip manufacturing business and make use of its new fab in Taylor, Texas. Musk revealed on X that Samsung’s facility will produce Tesla’s next-generation…
Elon Musk’s artificial intelligence company, xAI, says it is taking steps to remove offensive content generated by its Grok chatbot, following a wave of public criticism over posts shared on X (formerly Twitter). The controversy erupted after Grok, the platform’s AI-powered assistant, posted responses that made favourable references to Adolf Hitler and appeared to support…
Tesla appears to have dropped plans to set up manufacturing operations in India, according to the country’s Minister for Heavy Industries, HD Kumaraswamy. Speaking on Monday as the Indian government unveiled detailed guidelines for its electric vehicle (EV) manufacturing incentive scheme, Kumaraswamy stated bluntly: “Tesla – we are not expecting from them.” While other global…
Messaging platform Telegram is set to integrate Grok, the AI chatbot developed by Elon Musk’s xAI, into its app as part of a major new partnership aimed at expanding AI access to over one billion users. Telegram founder and CEO Pavel Durov confirmed the deal in a social media post, stating that the collaboration will…
Tesla CEO Elon Musk has confirmed his commitment to leading the electric vehicle company for at least the next five years, amid investor concerns about his focus and Tesla’s recent performance. Speaking at the Bloomberg Qatar Economic Forum in Doha on Tuesday, Musk responded with an unequivocal “yes” when asked whether he would continue as…
Microsoft co-founder Bill Gates has issued a stark warning over recent foreign aid cuts driven by Elon Musk’s influence in the U.S. government, claiming the move could result in millions of deaths worldwide. Speaking to CNN’s Fareed Zakaria in an interview set to air Sunday, Gates criticised the dismantling of the U.S. Agency for International…
Tesla has strongly refuted claims that its board is actively searching for a new chief executive to replace Elon Musk, dismissing a report by The Wall Street Journal as false. The report, published Wednesday, alleged that Tesla directors had contacted executive recruitment firms in March to begin exploring CEO replacement options, citing unnamed sources. However,…
Dan Ives, Global Head of Technology Research at Wedbush Securities, has urged Elon Musk to step away from his role in the Trump administration and recommit to leading Tesla full-time. In a post shared on X, Ives emphasized the need for Musk to shift his attention back to Tesla, especially following the company’s first-quarter earnings…
Two years after Elon Musk’s high-profile acquisition of Twitter – now X – critics say the billionaire entrepreneur has largely avoided challenging interviews, opting instead for media platforms and figures who offer praise rather than scrutiny. Back in April 2023, Musk signaled an intent to engage with a variety of media outlets, tweeting: “Am doing…
A former Tesla engineer who raised concerns about vehicle safety has secured a major legal victory in her years-long battle with Elon Musk and the electric car company. Cristina Balan, once a prominent employee at Tesla whose initials were engraved on Model S batteries, was fired in 2014 after warning that a design flaw could…
OpenAI has filed a countersuit against Elon Musk, alleging the tech billionaire has deliberately attempted to sabotage the company in order to gain control over its advanced artificial intelligence technology. In a strongly worded statement released on Wednesday, OpenAI accused the Tesla and xAI founder of using “bad-faith tactics” to obstruct its progress. “Elon’s nonstop…
Elon Musk has revealed that Neuralink, his brain-chip company, plans to implant a device designed to restore vision in blind individuals for the first time later this year. Speaking at an event in Wisconsin, Musk announced that the chip, called Blindsight, had shown promising results in animal trials, with test subjects remaining healthy after implantation….
Elon Musk has announced that X, the social media platform formerly known as Twitter, has been sold to his artificial intelligence company, xAI, for $45 billion. The transaction, revealed in a post on X on Friday evening, marks a significant shift in Musk’s strategy as he continues to integrate AI technology with his digital empire….
Under the bright stage lights of China’s Lunar New Year gala, more than a dozen humanoid robots whirred to life, twirling red handkerchiefs and moving in sync to folk music. The televised spectacle, viewed by over a billion people, wasn’t just an entertainment feat – it was a statement. China is making bold strides in…
Tesla is experiencing a sharp decline in sales, stock performance, and brand reputation, raising concerns among investors and analysts. However, its CEO, Elon Musk, appears to be focused elsewhere, leaving the electric vehicle giant to navigate turbulent waters without clear leadership. Tesla’s stock has dropped significantly, making it one of the worst-performing stocks in the…
Elon Musk’s satellite internet service, Starlink, could soon be eligible for a $42 billion federal broadband grant, following a rule change by the U.S. Department of Commerce. The program, known as Broadband Equity, Access, and Deployment (BEAD), was initially designed to prioritize fiber-optic networks, making it difficult for satellite services like Starlink to qualify. However,…
Dutch billionaire Charlene de Carvalho-Heineken, the largest shareholder in Heineken, has made history as the world’s richest person, with an estimated net worth of $11.04 trillion as of March 5, according to Forbes. Her rise to the top makes her the first person ever to surpass $11 trillion in wealth and the first female billionaire…
Billionaire entrepreneur Elon Musk has advocated for the privatization of the United States Postal Service (USPS) and Amtrak, arguing that privatized entities have a stronger incentive for improvement. Speaking virtually at the Morgan Stanley Technology, Media & Telecom Conference, Musk criticized the state of passenger rail in the U.S., calling Amtrak a “sad situation” compared…
Billionaire entrepreneur Elon Musk has seen his net worth plunge by $52 billion since the start of 2025, yet he still holds the title of the world’s richest person, according to the Bloomberg Billionaires Index. The decline is largely attributed to Tesla’s struggling stock, which fell 8% on Tuesday and has dropped over 20% in…
When Elon Musk acquired Twitter for $44 billion in October 2022, many believed he had overpaid. The sweeping changes he implemented – mass layoffs, relaxed content moderation policies, and a complete rebranding to X – threw the company into turmoil. Advertisers fled, the platform’s value plummeted, and it seemed like an impossible investment to recover….
Canadian singer Grimes has publicly called out her ex-partner, billionaire tech mogul Elon Musk, for allegedly ignoring her repeated attempts to discuss their child’s urgent medical condition. In a post on her X (formerly Twitter) handle on Thursday, Grimes – whose real name is Claire Boucher – implored Musk to respond, warning that their child…
Tesla is facing an unprecedented sales slump, and competition in the electric vehicle (EV) market is heating up. The company experienced its first-ever decline in global sales last year, dropping by 1% from 2023. While a 1% decline may not seem significant for some companies, it is a sharp contrast for Tesla, which recorded growth…
OpenAI’s board has officially rejected a $97.4 billion acquisition offer led by Elon Musk and a group of investors, reaffirming that the artificial intelligence company is not for sale. In a statement shared on X (formerly Twitter) on Friday, OpenAI Board Chair Bret Taylor said, “OpenAI is not for sale, and the board has unanimously…
The competition between Sam Altman and Elon Musk over the future of artificial intelligence has reached new heights, with OpenAI’s CEO rejecting a staggering $97.4 billion buyout offer from Musk and his group of investors. Altman’s refusal signals his commitment to OpenAI’s mission, even as the tech billionaire ramps up legal and competitive pressure. Musk,…
Elon Musk is spearheading an investor group that has made a staggering $97.4 billion offer to acquire OpenAI, the company behind ChatGPT. If successful, the deal could dramatically alter the landscape of artificial intelligence and reignite Musk’s influence over the organization he co-founded in 2015. The move, first reported by The Wall Street Journal, follows…
Elon Musk has denied any plans to purchase TikTok, dismissing speculation that he might bid for the popular video-sharing platform. Speaking at the WELT Economic Summit on January 28, the billionaire entrepreneur made it clear that acquiring TikTok is not on his agenda. “I’ve not put in a bid for TikTok, and I don’t have…
Tesla CEO Elon Musk has made bold claims about the company’s Full Self-Driving (FSD) technology, suggesting that it has become so advanced that some drivers misuse it in unsafe ways. His comments have sparked both praise and criticism as Tesla continues to push the boundaries of autonomous driving. At a recent investor and analyst conference,…
Nollywood actress Mercy Johnson has expressed astonishment after billionaire entrepreneur Elon Musk and YouTube star Mr Beast disclosed their staggering daily earnings. In a viral post on X, Mr Beast, known for his record-breaking giveaways and online content, revealed that he makes $1 million per day. Musk, the CEO of Tesla and SpaceX, responded by…
Elon Musk’s Department of Government Efficiency (DOGE) has set its sights on the U.S. penny, citing the high costs associated with producing the one-cent coin. In a post on X, DOGE revealed that the penny cost U.S. taxpayers over $179 million in the 2023 fiscal year, with each coin requiring more than three cents to…
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Elon Musk on Tuesday, accusing him of failing to properly disclose his growing ownership stake in Twitter – now rebranded as X – in a timely manner, as required by federal law. The SEC claims this delay allowed Musk to purchase shares at “artificially…
United Airlines is set to introduce Elon Musk’s Starlink internet service on its flights, with the first commercial launch scheduled for spring. Testing of the high-speed satellite-based Wi-Fi will begin in February, starting with the airline’s Embraer E-175 aircraft. United aims to equip its entire two-cabin regional fleet with Starlink by the end of 2025,…
Elon Musk, the world’s richest man, capped an extraordinary 2024 with a jaw-dropping surge in his wealth, widening the gap between himself and Amazon founder Jeff Bezos to a staggering $237 billion. The Tesla and SpaceX CEO’s net worth climbed by $213 billion in a single year, reaching a historic $442.1 billion by December, according…
Elon Musk’s financial empire has soared to new heights, propelled by the extraordinary growth of SpaceX, the aerospace company he founded with the goal of transforming space exploration. SpaceX’s valuation has recently surged to $350 billion, a remarkable 67% increase since June. This leap has elevated Musk’s net worth to a staggering $443 billion, further…
Elon Musk is once again at odds with the U.S. Securities and Exchange Commission (SEC), revealing that the agency has demanded he pay a fine related to his 2022 purchase of Twitter shares – or face multiple charges. Musk, who disclosed the situation on his social platform X, posted a letter from his attorney Alex…
Elon Musk has reached an unprecedented financial milestone, becoming the first individual in history to amass a net worth of $400 billion, according to Bloomberg. This achievement marks another record for the billionaire entrepreneur, who has seen a substantial increase in wealth in recent months. A major factor behind Musk’s rise in wealth is the…
Elon Musk, one of the world’s richest individuals, has faced a legal roadblock in his quest for a monumental financial windfall. A Delaware Chancery Court ruling has once again invalidated a 2018 Tesla pay package that could have granted him options to purchase 304 million Tesla shares at just $23.34 each – a fraction of…
A Delaware court has once again blocked Tesla CEO Elon Musk’s massive compensation plan, estimated at $101 billion in stock options, despite approval from Tesla shareholders earlier this year. The ruling, delivered by Delaware Chancery Court Chancellor Kathaleen McCormick, marks the second time Musk’s pay package has been rejected. Initially approved in 2018 and valued…
