Elon Musk’s net worth has dropped below $700 billion for the first time since December 2025 after another sharp decline in SpaceX shares extended the company’s recent market rout. The latest slide wiped nearly $30 billion from Musk’s fortune, moving him further away from the trillionaire status he briefly achieved following SpaceX’s blockbuster initial public…
Elon Musk’s artificial intelligence company, xAI, has filed a lawsuit against a user accused of using its Grok chatbot to generate child sexual abuse material (CSAM), marking one of the first known instances of an AI company taking legal action against a user for allegedly creating illegal explicit content with its platform. The lawsuit, filed…
Elon Musk is no longer a trillionaire after a sharp decline in the value of technology stocks wiped hundreds of billions of dollars from his paper wealth, according to the latest figures from the Bloomberg Billionaires Index. The index, updated on Tuesday, estimated Musk’s net worth at approximately $957 billion, down from about $1.11 trillion…
Elon Musk’s SpaceX has overtaken Amazon to become the world’s fifth-most valuable publicly traded company following a sharp rise in its share price just days after its historic stock market debut. The aerospace and technology company’s valuation climbed to approximately $2.78 trillion after its shares surged by more than 50 percent since listing on the…
For decades, the title of “world’s richest person” has been reserved for individuals whose fortunes seemed almost impossible to comprehend. Yet even by those standards, the wealth Elon Musk is projected to accumulate could redefine the meaning of extraordinary riches. Analysts have suggested that the entrepreneur behind companies like Tesla and SpaceX could become the…
SpaceX has officially unveiled plans to go public in the United States, setting the stage for what could become the largest stock market debut in Wall Street history. The company, founded by billionaire entrepreneur Elon Musk, develops rockets, operates the satellite internet network Starlink, and also controls the controversial artificial intelligence company xAI. The upcoming…
A high-stakes legal battle between Elon Musk and Sam Altman has begun in California, with both sides presenting sharply different accounts of the origins and direction of OpenAI. Taking the stand, Musk framed the case as a fundamental issue of trust and accountability in charitable organisations. “It’s actually very simple,” he told the court. “It’s…
Elon Musk has failed to appear for a voluntary interview requested by French prosecutors investigating activity on his social media platform, X, according to officials in Paris. The interview, scheduled for April 20, is part of an ongoing inquiry led by the Paris prosecutor’s cybercrime unit. Authorities confirmed that those summoned did not attend, but…
SpaceX, the private space technology firm founded by Elon Musk, is reportedly preparing for a public listing that could value the company at more than $1 trillion. The move follows a confidential filing for an initial public offering (IPO) with the US Securities and Exchange Commission, a step that allows companies to seek regulatory feedback…
A US federal judge has dismissed a lawsuit filed by X Corp, owned by Elon Musk, which accused major advertisers of coordinating a boycott against the platform. The case, brought in 2024, alleged that companies including Unilever, Mars Inc, Ørsted, and the World Federation of Advertisers conspired to withhold advertising spend, costing the platform billions…
A US jury has ruled that Elon Musk made misleading public statements during his 2022 acquisition of Twitter, siding with investors who claimed they suffered financial losses as a result. The unanimous verdict was delivered in a federal court in San Francisco after two days of deliberations. The lawsuit was brought by a group of…
Elon Musk has taken another step toward consolidating his business empire, with SpaceX confirming it is acquiring his artificial intelligence company, xAI. The aerospace firm announced the move by publishing an internal memo from Musk, in which he described the merger as a way to bring artificial intelligence, space technology, satellite internet and media platforms…
Elon Musk’s space company, SpaceX, has submitted a proposal to US regulators seeking permission to deploy up to one million satellites into Earth’s orbit as part of an ambitious plan to support artificial intelligence computing from space. In an application filed with the Federal Communications Commission (FCC), SpaceX argues that so-called “orbital data centres” could…
Elon Musk’s aerospace company, SpaceX, has submitted an application to deploy as many as one million satellites into Earth’s orbit, a move it says is aimed at meeting the rapidly growing global demand for artificial intelligence computing power. In the filing made to the United States Federal Communications Commission (FCC), SpaceX proposes the creation of…
Blue Origin, the space company founded by Amazon creator Jeff Bezos, has announced plans to deploy more than 5,400 satellites into orbit as part of a new global communications system designed to compete with Elon Musk’s Starlink. The project, known as TeraWave, is expected to deliver uninterrupted internet connectivity worldwide, with a strong emphasis on…
The Delaware Supreme Court has reinstated a controversial pay package awarded to Tesla chief executive Elon Musk in 2018, ending a lengthy legal battle that had seen the deal struck down twice by a lower court. The ruling restores Musk’s right to purchase about 303 million Tesla shares on a split-adjusted basis, a compensation package…
A major transatlantic row erupted on Friday after the European Union imposed a €120m (£105m) penalty on X, the social media platform owned by Elon Musk, for what regulators described as misleading verification practices and a lack of transparency. The European Commission concluded that X’s paid-for blue checkmarks mislead users because the platform does not…
There are numbers we understand, and then there are numbers so enormous they slip through the fingers of ordinary imagination. One trillion falls firmly in the latter category. Yet that figure entered public conversation again after Tesla shareholders voted to reinstate Elon Musk’s massive compensation plan – one that, if Tesla meets certain market and…
Tesla’s humanoid robot, Optimus, has been appearing increasingly in public spaces, from company showrooms to manufacturing floors, and even in a widely shared photo with reality star Kim Kardashian. But CEO Elon Musk says the long-term vision for the robot extends far beyond occasional demonstrations. Since unveiling the prototype in 2022, Musk has argued that…
Tesla shareholders are set for a pivotal decision as the company’s annual general meeting approaches on Thursday, with a major vote on whether chief executive Elon Musk should receive a compensation package that could eventually be worth nearly $1 trillion. In the run-up to the vote, Tesla has launched an extensive campaign to rally shareholder…
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…
