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Elon Musk is tightening his grip on Tesla
  + stars: | 2024-05-06 | by ( Geoff Weiss | ) www.businessinsider.com   time to read: +2 min
Top Tesla exec Tom Zhu has been redeployed to China, Electrek reports. Several other top execs have left Elon Musk's company. Musk is consolidating power at Tesla as a vote over his $47 billion pay package looms. AdvertisementOne of Tesla's top executives has been reassigned to China in another sign that Elon Musk is tightening his grip on the electric carmaker. Prior to the move, Zhu had assumed more responsibilities at Tesla as Musk was increasingly occupied by X, according to Electrek.
Persons: Tom Zhu, , Elon, Elon Musk —, Zhu, Musk, Zhu —, Tesla, Drew Baglino, Rohan Patel, That's Organizations: Elon Musk's, Service, China, X, Reuters, North, Business, Street Locations: China, Shanghai, Delaware
Read previewSam Altman suggested OpenAI may not be the most ideal name for the artificial intelligence company — at least in hindsight. "We started off just thinking we were going to be a research lab and having no idea about how this technology was going to go," Altman told Fridman. "This was before we had any idea about an API or selling access to a chatbot," Altman said on the podcast. But Altman told Fridman that he doesn't really understand what Musk's "real motivations" are. "Speaking of going back with an Oracle, I'd pick a different name," Altman told Fridman.
Persons: , Sam Altman, OpenAI, Elon Musk, Lex Fridman's, Altman, Fridman, Musk Organizations: Service, Elon, Business, Oracle
Off the Board Game, Onto the Digital Canvas
  + stars: | 2024-03-06 | by ( Travis Diehl | ) www.nytimes.com   time to read: +1 min
The capricious churn of internet-charged culture is producing more main characters, apocrypha and relics than we can handle. Simon Denny, an artist working in Berlin, creates sculptures, installations, videos and prints inspired by the aesthetics of tech companies. In two concurrent shows in Manhattan he has seized on omens like the blade to explore the sociopolitical fallout of the technology industry’s taste for medieval lore. In Denny’s telling, dreams of wizards and blacksmiths, dark forests and dank castles shape the newest digital realms. The sculpture is plugged into a power strip that Denny sourced from a liquidation sale at Twitter during its Musk-mandated transition to X.
Persons: Grimes —, Elon Musk —, Simon Denny, , Denny Organizations: Twitter Locations: Canadian, Berlin, Manhattan, New York, Grimes
Three heirs to the Walmart fortune have more than doubled their personal wealth since 2016. Rob, Jim, and Alice Walton have added more than $100 billion to their net worth in recent years. AdvertisementThree Walmart heirs have more than doubled their money since 2016, adding more than $100 billion to their combined fortunes. Legendary founder Sam Walton's three surviving children — Rob, Jim, and Alice — all hold top-20 spots on the Forbes rich list with personal fortunes of between $70 billion and $77 billion. This story is available exclusively to Business Insider subscribers.
Persons: Rob, Jim, Alice Walton, , Sam Walton's, Alice — Organizations: Walmart, Service, Forbes, Business
How Big Was the Big Game?
  + stars: | 2024-02-12 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +1 min
scores bigIn many ways, the N.F.L. couldn’t have asked for a better outcome for the Super Bowl. The game was a place to see and be seen. Yes, Swift arrived in time from Japan to cheer on her boyfriend, the Chiefs star Travis Kelce. And A-list celebrities like Jay-Z, Beyoncé and LeBron James were spotted at Allegiant Stadium in Las Vegas.
Persons: couldn’t, Usher, Taylor Swift, Swift, Travis Kelce, Jay, LeBron James, Elon Musk —, Tim Cook, Jack Dorsey Organizations: Super, Kansas City Chiefs, Chiefs, Elon, Apple, Twitter Locations: Japan, Las Vegas
A Delaware judge on Tuesday voided the $56 billion pay package of Tesla CEO Elon Musk, ruling that the company's board of directors failed to prove "that the compensation plan was fair" or show much evidence that they had even negotiated with him. The pay package that Tesla granted Musk in 2018 was the largest compensation plan in public corporate history, McCormick noted in her 200-page ruling. He claims that Tesla, Inc.'s directors breached their fiduciary duties by awarding Elon Musk a performance-based equity-compensation plan." "Put simply, neither the Compensation Committee nor the Board acted in the best interests of the Company when negotiating Musk's compensation plan. But in a tweet late Tuesday afternoon, Musk wrote, "Never incorporate your company in the state of Delaware."
Persons: Elon, Twitter —, Elon Musk, Richard Tornetta, Chancellor Kathaleen McCormick, Tesla, McCormick, Musk, Tornetta, Todd Maron, Grant Organizations: SpaceX, Twitter, New York Times, Tesla, Delaware Supreme Court, Inc, Elon, Company, Musk, CNBC, CNBC PRO Locations: New York City, Delaware
Elon Musk — the CEO of Tesla and SpaceX and owner of X, formerly Twitter — speaks during the New York Times annual DealBook summit in New York City, Nov. 29, 2023. A Delaware judge on Tuesday voided the $56 billion pay package of Tesla CEO Elon Musk, ruling that the company's board of directors "failed that the compensation plan was fair." Tesla's share price slid about 3% in after-hours trading Tuesday following news of the decision in the lawsuit filed by Richard Tornetta, a shareholder in the electric automaker. "The plaintiff is entitled to rescission," Delaware Chancery Court Judge Kathaleen McCormick wrote in his ruling agreeing that Musk's pay package was inappropriately set by Tesla's board. Please check back for updates.
Persons: Elon, Twitter —, Elon Musk, Richard Tornetta, Judge Kathaleen McCormick, McCormick Organizations: SpaceX, Twitter, New York Times, Tesla Locations: New York City, Delaware
New York CNN —Elon Musk — who was widely criticized for an antisemitic post on his social media site, X, two months ago — said following a visit to Auschwitz Monday that X has less antisemitic content than other social media platforms. Musk made the comments during an interview at a conference hosted by the European Jewish Association near the site of the Auschwitz in Poland. It comes after Musk faced a firestorm of backlash over antisemitic content on X, including a post with an antisemitic conspiracy theory that Musk himself amplified (and later apologized for in the wake of condemnation.) Musk later apologized for the post, but told advertisers who halted their spending on X over concerns about antisemitic content to “go f**k” themselves. As part of Monday’s event, the billionaire appears to have made a visit to Auschwitz along with his young son.
Persons: New York CNN — Elon Musk, , Musk, “ It’s, you’ve, ” Musk, we’ve, Whites, , Elon Musk, Andrzej Rudiak, Organizations: New, New York CNN, Auschwitz, European Jewish Association, White, Defamation League, ADL Locations: New York, United States, Auschwitz, Poland, Israel, Nazi
Walgreens Boots Alliance's executive vice president, John Driscoll, penned a letter asking lawmakers in the US and abroad to tax the wealthy. Driscoll echoed the pleas of entrepreneurs, an heiress, and activists in his demand to save the "rapidly diminishing American Dream." Advertisement"In this spirit, I call on national and international lawmakers to do whatever it takes to tax wealthy people like me," Driscoll wrote. "I agree that we should make elaborate tax-avoidance schemes illegal, but acting upon that would upset a lot of donors, so we will see words, but no action," Musk wrote in June. In his tax letter, Driscoll cited a report from the Economic Policy Institute that CEOs made 399 times as much as a typical employee in 2021.
Persons: , John Driscoll, Driscoll, Switzerland that's, Daniel Werfel, Elon Musk —, Joe Biden, Musk Organizations: Service, Walgreens Boots, Business, IRS, Analysts, EU Tax Observatory, Economic Policy Institute Locations: Davos, Switzerland
AdvertisementThe world could mint its first trillionaire within a decade as the majority of us gets poorer, according to a new report. The prediction came in Oxfam's annual inequality report, published on Monday to coincide with the World Economic Forum in Davos, Switzerland. The predicted trillionaire would represent an unprecedented high-water mark in levels of global inequality that even now are starker than ever, the report said. Oxfam makes regular headlines with its annual wealth inequality report, which in recent years has made some jarring assessments. The report's calculations are based on Forbes' "Real-Time Billionaires" list and UBS' Global Wealth Report of 2023.
Persons: , Bernard Arnault, Jeff Bezos, Warren Buffett, Larry Ellison, Elon Musk, Rachel Riddell, Forbes, Charles Kenny Organizations: Oxfam, Service, World Economic, NPR, UBS, Global, Center for Global Development, World Bank Locations: Davos, Switzerland, Saharan Africa
Elon Musk's X to launch peer-to-peer payments this year
  + stars: | 2024-01-09 | by ( Ashley Capoot | In | ) www.cnbc.com   time to read: +2 min
Elon Musk's social media platform X, formerly known as Twitter, announced it will launch peer-to-peer payments this year, according to a Tuesday blog post. X said the payments will unlock "more user utility and opportunities for commerce" as the platform works to "revolutionize 2024." The blog post did not offer specific details about how the payments will work or when they will officially launch. According to the Nationwide Multistate Licensing System website, X Payments LLC — the payment subsidiary of X — has only obtained money transmission licenses in 14 states so far. Introducing peer-to-peer commerce to the platform would mark the latest sweeping change at X since Musk acquired the company for $44 billion in late 2022.
Persons: Elon, Twitter —, X, , Musk Organizations: SpaceX, Twitter, New York Times, X, eToro Locations: New York City
Tesla is recalling around 2 million of its vehicles in the U.S. to fix Autopilot features that auto safety regulators found to be confusing to drivers, or too easy for them to misuse and abuse. The NHTSA opened an investigation into 11 incidents involving Tesla cars where Autopilot and Autosteer were involved in 2021, a probe which ultimately led to today's voluntary recall. He hopes Tesla and NHTSA will pay special attention to roads with cross traffic, because there have been multiple fatal crashes with trucks in that situation involving Tesla vehicles with Autopilot engaged. If people need to steer, for instance, they must pay attention. The Autopilot system will still be helpful if it just does the accelerating and braking but people could not not pay attention."
Persons: Elon, Twitter —, Tesla, Autosteer, Philip Koopman, Koopman, hasn't, Erik Vinkhuyzen Organizations: SpaceX, Twitter, New York Times, National, Traffic, NHTSA, Federal Reserve, Carnegie Mellon University, CNBC, King's College London, CNBC PRO Locations: New York City, U.S
Grimes alleged Elon Musk spent less than half his time in 2023 in Texas, in recent legal filings. Musk still spends two to three days a week in California, Grimes alleged. AdvertisementElon Musk — who moved Tesla's headquarters from California to Texas in 2021— has been spending less than half his time in the Lone Star State, Grimes alleged in recent legal documents. Musk quietly sued Grimes in Texas court in September to establish a "parent-child" relationship with the kids. While Grimes has said the child was with Musk in Texas over her objection, the details around the arrangement, and how she responded, are unclear.
Persons: Grimes, Elon Musk, Musk, , Elon, Claire Boucher, X, Christopher Melcher, Walzer Melcher, Tesla, Peter Walzer Organizations: Service, Lone Star State, Tau, Business, Musk, Street Journal, Montessori, Twitter, SpaceX Locations: Texas, California, Austin , Texas, Austin, Hawthorne , California, Brownsville , Texas, Bay Area . Texas, Starbase, SpaceX's, Boca Chica , Texas, Snailbrook, Boring, Bastrop , Texas, State, San Francisco, Palo Alto
London CNN —Danish dockworkers and drivers are threatening to stop transporting Teslas to neighboring Sweden if the carmaker does not reach a deal with striking Swedish workers within two weeks. It is the first time a labor union outside of Sweden has threatened industrial action against Tesla in solidarity with the Swedish workers. “IF Metall and the Swedish workers are fighting an incredibly important battle right now. About nine out of 10 workers in Sweden and more than eight in 10 in Denmark are covered by such agreements. At least three attempts to organize by Tesla workers in the United States have failed, mainly as a consequence of aggressive tactics by the company and weak protections for labor in the country.
Persons: , Tesla, Jan Villadsen, IF Metall, ” IF Metall, Anu Hietala, Elon Musk, , Organizations: London CNN, Danish, IF Metall, CNN, IF, ” IF, Denmark’s, Nordic, Nordic Transport Workers ’ Federation, New York Times Locations: Sweden, Swedish, dockworkers, Finland, Norway, Stockholm, Denmark, United States
X CEO Linda Yaccarino reminded employees of X's principles in a memo on Thursday. AdvertisementElon Musk — who in an interview on Wednesday told advertisers who fled X to "go fuck yourself" — has the full support of X CEO Linda Yaccarino. "Our principles do not have a price tag, nor will they be compromised — ever," she wrote. AdvertisementYaccarino, an ad world veteran, is reportedly being urged by ad executives to resign from the CEO position in order to save her reputation. Though, according to reporting, she is holding firm in the position — and doubling down her support for Musk.
Persons: Linda Yaccarino, Yaccarino, Elon Musk, Musk, , Elon Organizations: Service, Wednesday, Bloomberg, Disney, Apple Locations: Wednesday's
Yes, I was surprised at what Elon Musk said at the DealBook Summit on Wednesday — you can see that in the moment from our conversation when he left me temporarily speechless. But I would encourage everyone to watch the entire interview, as we covered so much more than that. Coming into Wednesday’s DealBook Summit, few could predict what Elon Musk — whose SpaceX, Tesla and X are among the most consequential and talked-about companies in the world — would say. Yes, there was the moment when, using profane language, Musk denounced companies that had suspended advertising on X following his endorsement of an antisemitic conspiracy theory. (He did try to clear the air, saying he hadn’t meant to support bigots.
Persons: Andrew, Elon Musk, Musk, Organizations: SpaceX, Tesla
Opinion | An Old Hate Cracks Open on the New Right
  + stars: | 2023-11-19 | by ( David French | ) www.nytimes.com   time to read: +9 min
A dam burst last week on the right, and a wave of grotesque antisemitism poured out all over the internet. Some of these people worked for the right wing’s biggest names, including Tucker Carlson, Ron DeSantis and Donald Trump. On Nov. 3, Owens posted on social media, “No government anywhere has a right to commit a genocide, ever. And maybe he loves Israel and he loves America too.” Owens, he said, “is a bit more America first. And finally, the term “America First,” popular with the New Right and the older, Lindbergh right, has always been misleading.
Persons: Tucker Carlson, Ron DeSantis, Donald Trump, Ben Shapiro, Candace Owens, Owens, Israel, Shapiro, Jason Whitlock, ” Owens, , ” “ I’m, , Elon Musk, X —, Charlie Kirk, Kirk, Charles Lindbergh, Lindbergh, Roosevelt, Pat Buchanan, Richard Nixon, William F, Buckley Jr, Buchanan, Elena Kagan, ” Buchanan, Nicole Hemmer, Reaganism, haltingly Organizations: Daily Wire, Daily, Twitter, America, Harvard, Jewish, Republican Party, Republican, Israeli Defense Ministry, New Locations: America, Israel, Pittsburgh, Iraq, United States
Errol Musk said he'd be open to having more children if he could find a woman under the age of 35. Much like his son Elon Musk — who has 10 known living children — Errol Musk told Insider he believes people need to have more children and said he'd consider having more kids. "Men are all the same," Errol Musk told Insider. So if a woman came along who was able to have children, she'd have to be under 35 because a woman's cutoff for having children is 35, believe it or not." AdvertisementAdvertisementLast year, Errol Musk told Insider he thinks Elon Musk should have more children.
Persons: Errol Musk, Elon Musk's, he'd, , isn't, Elon Musk, we're, Maye Musk, Heide Bezuidenhout, Jana Bezuidenhout, Jana, Walter Isaacson, Tesla, Errol, Elon, Isaacson Organizations: Service, Elon, American College of Obstetricians, US Centers for Disease Control Locations: Jana
Elon Musk expressed his disappointment in Ukraine's summer counteroffensive in an X post on Sunday. "So much death for so little," Musk wrote in his post. "So much death for so little," Musk wrote in a post on X, formerly Twitter, on Sunday. Musk, for his part, has weighed in many times on the war in Ukraine. Representatives for Musk did not immediately respond to a request for comment from Insider sent outside regular business hours.
Persons: Elon Musk, Musk, Elon, , David Sacks, Sacks, Andrii Melnyk, Anton Gerashchenko, Walter Isaacson, Jan Kallberg Organizations: Service, Sunday, NATO, SpaceX, Musk, Foreign Relations, Center for Locations: Wall, Silicon, Ukraine, Crimea, Russia
Elon Musk worried about the attention Errol Musk was giving his stepdaughter when she was 15, according to a new book. Errol Musk told Insider the claims were "balderdash" and said he was equally attentive to his kids. Over a decade later, Errol Musk fathered two children with the same stepdaughter, Jana Bezuidenhout. Elon Musk invited his father to live near himIsaacson wrote in the biography that Elon Musk convinced his father to move with his then-wife and stepchildren from South Africa to Los Angeles in 2002. AdvertisementAdvertisement"I tried threats, rewards, and arguments to change my father for the better," Elon Musk told Isaacson in the book.
Persons: Elon Musk, Errol Musk, Errol, Jana Bezuidenhout, Walter Isaacson, Elon, Jana, Isaacson, Elon Musk's, Grimes, Musk, Heide Bezuidenhout, Rose, Heide, Kimbal, Kimbal Musk, Stone, Elon Musk —, , didn't Organizations: Service, Elon, Rover, Sunday Times, Facebook Locations: Wall, Silicon, South Africa, Los Angeles, Malibu
Elon Musk bought a horse farm in Texas near Tesla's Gigafactory, author Walter Isaacson wrote. The biographer said Musk envisioned a house that looked like "something fell out of space." The Wall Street Journal has reported Musk was building a glass house, but he has denied the reports. "He needs a place where his sole resides and that's what the horse farm will be for him." At the time, Musk denied living in the modular house, saying that he lives in a different small house in Texas.
Persons: Elon Musk, Tesla's Gigafactory, Walter Isaacson, Musk, Elon, , Austin Gigafactory, Isaacson, Norman Foster, Steve Jobs, Foster, Foster didn't, Isaacson —, Tesla, Foc Kan, Omead Afshar, Afshar, Grimes, Robyn Beck, Zilis hasn't, Weeks, he'd Organizations: Elon, Service, Tesla, The Boring Company, Wall Street, Bloomberg, Department of Justice, Securities and Exchange Commission, Getty, LinkedIn, SpaceX Locations: Texas, Tesla's, Wall, Silicon, Colorado, Austin, California, Mars
Roiland frequently followed and interacted with the starstruck "Rick and Morty" fans on social media and dating apps. "However, now that the legal case has ended, I'm determined to move forward and focus both on my creative projects and restoring my good name," Roiland wrote. Haha," Roiland wrote. Veronika Sweeney tweeted screenshots of direct messages Roiland sent her in 2014 when she was 22. "But I felt like you weren't okay," Roiland wrote in another text message.
Persons: Justin Roiland, Michael Kovac, Rick, Morty, McDonald's, Roiland, he'd, Andrew Brettler, I'm, Elon Musk —, Ruby, influencers, Janna Waters, Waters, it's, Roiland messaged, Rick Sanchez, , Jesus Christ, Hailey Long, Long, Veronika Sweeney, Sweeney, wasn't, Uber, RICK, MORTY, Justin, Roiland texted, texted, dicks Organizations: San Diego Comic, NBC News, Squanch Games, NBC, Illinois, biiiiitch, Con, Facebook, Twitter, YouTube Locations: Los Angeles, Roiland, Orange County , California, Boston, Tinder, Roiland's, Massachusetts, San Diego, Raleigh , North Carolina, Pennsylvania
Grimes and Shivon Zilis — both of whom have kids with Elon Musk— have buried the hatchet. Grimes wrote. "Communication about the twins wasn't handled super well in the past, but I now totally understand what happened and totally forgive the situation," Grimes wrote on X on September 10. AdvertisementAdvertisement"So glad we had such a wonderful talk, was insanely overdue," Zilis wrote, calling Grimes a "total badass." He shares three children with Grimes — X Æ A-Xii, or X; Exa Dark Sideræl, known as Y, and Tau.
Persons: Grimes, Shivon Zilis, Elon Musk, Zilis, Elon Musk Grimes, Walter Isaacson's, Jezebel, Elon, Tau, Musk, Justine Musk Organizations: Service, Elon, Street Locations: Wall, Silicon
A multiyear investigation into the safety of Tesla's driver assistance systems by the National Highway Traffic Safety Administration, or NHTSA, is drawing to a close. Tesla cars cannot function as robotaxis like those operated by General Motors -owned Cruise or Alphabet 's Waymo. Tesla CEO Elon Musk — who also owns and runs the social network X (formerly Twitter) — often implies Tesla cars are autonomous. But it's not clear that this is a strong enough system to ensure safe use of Tesla's driver assistance features. In 23 of these incidents, the agency report says, Tesla's driver assistance features were in use within 30 seconds of the collision.
Persons: David Shepardson, Ann Carlson, Elon Musk —, , Musk, Tesla, Elon Organizations: National, Traffic Safety Administration, Reuters, CNBC, NHTSA, General Motors, FSD Beta, SAE International, Ford Locations: U.S
Elon Musk called Senate Minority Leader Mitch McConnell abruptly freezing mid-sentence "insane." The billionaire Twitter boss suggested that there needs to be a constitutional amendment for term limits. This is insane," Musk said in a reply to a tweet of a video showing McConnell suddenly stop speaking to reporters on Capitol Hill on Wednesday. At the beginning of Senate Republicans' weekly press conference on Wednesday, McConnell froze up mid-sentence before being escorted away by other senators and an aide. Experts say it would likely take a constitutional amendment to impose such a change.
Persons: Elon Musk, Mitch McConnell, McConnell, , Musk, Gray, Ron DeSantis Organizations: Service, Elon, Republicans, Republican, United States Congress, Capitol, Wednesday, GOP, SpaceX, Twitter, Florida Gov Locations: Wall, Silicon, Kentucky, Florida
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