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☆ Judge will consider $6 billion legal fees for lawyers who voided Elon Musk's multibillion pay package
▼ + stars: | 2024-06-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewA Delaware judge still wants to consider a $6-billion request in legal fees from lawyers who shot down Elon Musk's multibillion-dollar pay package at Tesla regardless of the recent shareholder vote, court documents show. In January, Chancellor Kathleen McCormick of the Delaware Chancery Court ruled against Elon Musk's pay package that would've awarded the Tesla CEO more than $55 billion in stock at the time. With the outcome, lawyers representing Richard Tornetta, the Tesla shareholder who objected to the compensation plan, argued that they provided a valuable service in getting Musk's package rescinded. But Musk received some good news in June after shareholders voted to re-approve the CEO's pay package and maintain the current board structure with Kimbal and James Murdoch. Chancellor McCormick will have to decide on the fate of the package and whether the plaintiff's attorneys do deserve about $6 billion in legal fees.

Persons: —, Elon Musk's, Kathleen McCormick, McCormick, Richard Tornetta, Musk, James Murdoch, doesn't, Chancellor McCormick, James, Park Organizations: Service, Elon, Business, University of California, Tesla Locations: Delaware, Los Angeles

☆ I skipped grad school and became a mechanic instead. I ended up getting a dream job at Tesla.
▼ + stars: | 2024-06-28 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a transcribed conversation with Diana Welsch about training to be a car mechanic instead of going to grad school. I went to trade school instead of grad schoolI decided to go to trade school in 2014. AdvertisementI got a dream job at TeslaAt my trade school fair, I saw that Tesla was hiring trainees. I left Tesla later that yearI'd wanted to stay at Tesla my whole life — it was the most fun job ever. I wish I had gone to trade school after high school instead of college.

Persons: —, Diana Welsch, I've, Tesla, I'd, Elon Musk, Uncle Elon, Elon, they'd Organizations: Service, Business, Universal Technical Institute, Sun Devil, Tesla, Bluetooth, LA, Management Locations: Arizona, Phoenix, Los Angeles, North Dakota

☆ Silicon Valley figures are not holding back after Biden's disastrous debate
▼ + stars: | 2024-06-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewSeveral Silicon Valley figures have offered their thoughts on President Joe Biden's performance in Thursday's presidential debate — and it's not a pretty picture. AdvertisementSome Silicon Valley figures have warmed up to TrumpHeading into Thursday's debate, the election was clearly splitting opinion among Silicon Valley figures. AdvertisementTonight was a clear victory … for memes — Elon Musk (@elonmusk) June 28, 2024Plenty of other tech figures did not hold back when discussing Biden's performance, however. Some tech figures leaned into mockery. Y Combinator cofounder Paul Graham posted on X that "Biden bombing the debate" was good for the party as a better candidate would emerge.

Persons: —, Joe Biden's, it's, influencers, Donald Trump, Biden, Reid Hoffman, Vinod Khosla, Joe Biden, Kimberly White, Elon Musk, Musk, Elon, there's, Hoffman, Khosla, Trump, David Sacks, Sacks, — David Sacks, @DavidSacks, Jason Calacanis, Biden —, Nikita Bier, Shaun Maguire, Delian Asparouhov, Ralph Wiggum, Sarah Guo, Paul Graham, — Paul Graham, @paulg Organizations: Service, Business, Republican, Trump, Cuban Missile, America, Founders Fund, Democrats, Biden Locations: America, Los Angeles, Atlanta, Sequoia, Delian, San Francisco, Silicon

Talking pointsAll eyes will be on CNN at 9 p.m. Eastern, when President Biden and Donald Trump face off in their first debate since 2020. Among the keenest watchers will be executives and investors looking for signs about how the candidates might handle the economy and business in a second term. There will be plenty to scrutinize in the 90-minute, audience-free debate, including what the candidates say and how they say it. What will Biden and Trump say about some of the key issues? In Thursday night’s debate, “markets probably care more about presentation than policy pledges,” Paul Donovan, an economist at UBS, wrote in a client note.

Persons: Biden, Donald Trump, Trump, ” David Bahnsen, DealBook, ” Paul Donovan, Elon Musk, There’s, J.D, Vance of, Doug Burgum, Marco Rubio Organizations: CNN, Bahnsen, UBS, Biden, Trump, Times, Gov Locations: Atlanta, Vance of Ohio, North Dakota, Marco Rubio of Florida

☆ Supreme Court curbs SEC powers to enforce securities laws
▼ + stars: | 2024-06-27 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +2 min

People line up to get into the U.S. Supreme Court on the day where decisions ares expected to be handed down, in Washington, U.S., June 26, 2024. WASHINGTON — The Supreme Court on Thursday put new limits on the power of the Securities and Exchange Commission to enforce securities laws — the latest ruling in a series of cases that take aim at federal agencies. The court ruled 6-3 that adjudication of cases by in-house judges violates the right to trial by jury. The challenge zeroed in on how the SEC enforces securities laws, including those prohibiting insider trading. A three-judge panel of the New Orleans-based 5th Circuit U.S. Court of Appeals ruled against the agency, prompting the SEC to ask the Supreme Court to intervene.

Persons: WASHINGTON —, George Jarkesy, Elon Musk, Mark Cuban Organizations: U.S, Supreme, WASHINGTON, Securities and Exchange Commission, SEC, Circuit U.S Locations: Washington , U.S, New Orleans

☆ A timeline of Elon Musk's political stances and donations before his latest embrace of the Republican Party
▼ + stars: | 2024-06-27 | by ( Jake Lahut | Grace Eliza Goodwin | ) www.businessinsider.com time to read: +10 min

And as one of the richest and most powerful people in the world, Musk's political stances carry a great weight. Musk's political donations dating back to 2002 fit neatly into just a single landing page on OpenSecrets, a nonprofit organization that tracks money in politics. AdvertisementThough Musk historically hasn't been big on political donations, he's publicly said that he weighs in on politics when it could affect his businesses. Musk's political coming of age during the pre-social media era remains much of a mystery. His latest donations have all been to Republican candidates and causes, with Sen. Chris Coons of Delaware being the last Democrat to receive any Musk donations back in 2020.

Persons: —, Elon, hasn't, that's, he's, Trump, Joe Biden, Donald Trump, Musk, Elon Musk, Paul Harris, Errol —, Ashlee Vance's, Musk's, Andrew Panzera, Tesla, Martin Eberhard, Marc Tarpenning, Trump Tesla, Alex Brandon Musk, George W, Bush, John Kerry, Barack Obama, Hillary Clinton, Clinton, Sen, Chris Coons, Rex Tillerson's, Hillary Clinton's, Marc Piasecki, Ron DeSantis, DeSantis, Biden, Nelson Peltz, MAGA, — Musk Organizations: Service, SpaceX, Business, White, Tesla, Getty, Pretoria City Council, Progressive Party, New York Times, Times, PayPal, Trump, Donald Trump AP, Democratic, California Democrats, National Republican Congressional, GOP, Republican, Elon, State, Paris Climate, America, NASA, Biden's, Cannes Lions, Democratic Party, Republican Florida Gov, Twitter Locations: Africa, Los Angeles, Republic of South Africa, Pretoria, South Africa, Canada, Johannesburg, Silicon Valley, California, Sens, Delaware, Paris, Texas, Musk's Texas

☆ The International Space Station is getting the scrap, and Elon Musk's SpaceX is being paid close to $1 billion to do the honors
▼ + stars: | 2024-06-27 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

SpaceX has been chosen to drag the International Space Station out of orbit. NASA will give Musk's space exploration company $843 million for the mission. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNASA has tasked Elon Musk's SpaceX with building a vehicle powerful enough to pull the International Space Station (ISS) out of orbit. "NASA announced SpaceX has been selected to develop and deliver the U.S. Deorbit Vehicle that will provide the capability to deorbit the space station and ensure avoidance of risk to populated areas," per the statement.

Persons: —, Elon Organizations: SpaceX, Space, NASA, Service, . Deorbit, Business

☆ These are the most expensive S&P 500 stocks heading into the second half
▼ + stars: | 2024-06-27 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Artificial Intelligence plays Top AI plays were among the list of expensive stocks in the S & P 500, including Broadcom , Lam Research , Intel and Super Micro Computer . Each stock's price-earnings ratio equates to a roughly 60% to 66% premium over the historical average. SMCI YTD mountain Super Micro Computer stock. Super Micro Computer, meanwhile, has continued to ride the AI wave despite some weakness last month after third-quarter revenue missed analyst expectations. The stock's trailing 12-month price-earnings ratio is also more than double its five-year average, at a 63% premium.

Persons: Elon Musk, Daron Acemoglu, Goldman Sachs, Eli Lilly Eli Lilly, Eli Lilly, Biogen's Leqembi Organizations: CNBC Pro, Nvidia, CNBC, Stock, Artificial Intelligence, Broadcom, Lam Research, Intel, Micro, Super Micro Computer, Computer, Wall, Bank of America, Micro Computer, Dell, Massachusetts Institute of Technology, U.S . Food, Drug Administration Locations: U.S

☆ The first US presidential debate will have some noticeable differences
▼ + stars: | 2024-06-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the first — and somewhat unconventional — US presidential debate happening tonight . Evan Vucci/AP images, Manuel Balce Ceneta/AP images, Tyler Le/BIIt didn't come easy, and it won't feel quite the same, but we're getting our first US presidential debate tonight. AdvertisementBut don't be surprised by some noticeable differences from what you've come to expect when two presidential candidates face off. And this marks the first presidential debate the platform navigates under the Elon Musk regime. In other newsAdvertisementWhat's happening todayRFK Jr., who did not qualify for the CNN presidential debate, will answer debate questions via livestream during his campaign's counter-programming.

Persons: —, Evan Vucci, Manuel Balce Ceneta, Tyler Le, Joe Biden, Donald Trump, it's, Insider's Brent D, Griffiths, Biden, Brent, Chris Szagola, Julien de Rosa, Alice Tecotzky, Cros, Sunny Verghese, Goldman Sachs, Goldman, Adam Posen, Posen, Bord, Jenny Chang, Rodriguez, Mustafa Suleyman, Alberto Miranda, they're, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Trump, Biden, CNN, Fox News, MSNBC, Elon, Getty, Peterson, BI, NFL, RFK Jr Locations: Tesla . Texas, New York, London

☆ Spacewalk spacesuits are aging rapidly, but NASA just canceled plans for new ones
▼ + stars: | 2024-06-27 | by ( Jackie Wattles | ) edition.cnn.com time to read: +3 min

CNN —The iconic puffy white suits that astronauts have donned for decades as they step outside the International Space Station are rapidly aging — but NASA is now without concrete plans to replace them. Astronauts currently wear spacesuits — called Extravehicular Activity, or EVA, suits — designed more than 40 years ago when conducting spacewalks. Collins Aerospace’s Next-Gen spacesuit, intended for use at the International Space Station, is seen during the design process. NASA plans to retire the space station sometime within the next several years. But Roscosmos, the Russian space agency, has only guaranteed its participation through “at least 2028.”

Persons: —, Collins, Trent Sugg, Tracy Dyson, It’s, Jared Isaacman, Elon, ” Organizations: CNN, NASA, Collins Aerospace, RTX Corporation, Raytheon Technologies, SpaceX, International, Polaris, Space Locations: Houston, Russian

☆ It looks like Nvidia failed to soothe skittish investors
▼ + stars: | 2024-06-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Huang also failed to mention during the meeting when exactly the company's next-generation AI chip, Blackwell will become available, although he said it would be "the most successful product" in Nvidia's history. Nvidia serves over five million developers and 40,000 companies, including thousands of AI companies. Nvidia declined a request for comment from Business Insider.

Persons: —, it's, Jensen Huang didn't, Sam Altman, Elon Musk, Huang, Blackwell Organizations: Service, Microsoft, Business, Google, Nvidia

☆ Robots keep getting creepier
▼ + stars: | 2024-06-26 | by ( Jaures Yip | ) www.businessinsider.com time to read: +3 min

Read previewIt's not just nuts and bolts keeping robots together — now they can be made with living skin. The team said it was able to mimic human skin ligaments by bonding skin tissue to perforated 3D facial models and 2D robots. The team hopes the advancement will be useful "in the cosmetics industry and to help train plastic surgeons," according to a press release. While the development could prove helpful, some people online reacted to the robot's fleshy skin and facial movements with jokes or said they found it disturbing. Scientists reveal a smiling 2D facial robot covered with lab-grown living skin.

Persons: —, Shoji Takeuchi, Takeuchi, Elon Musk Organizations: Service, University of Tokyo, Business, Optimus Locations: Tesla

☆ Elon Musk is reigniting his space feud with Jeff Bezos: 'Sue Origin'
▼ + stars: | 2024-06-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Space barons Elon Musk and Jeff Bezos have long had competing ambitions to take over the skies. Bezos' Blue Origin recently proposed a cap on SpaceX's launches due to environmental concerns. Musk slammed the move and gave the company a new moniker: "Sue Origin." AdvertisementJeff Bezos' rocket company, Blue Origin, thinks the FAA should cap SpaceX's launches — and Elon Musk isn't too pleased about it. Blue Origin recently expressed concerns over the environmental impacts of SpaceX's rocket launches on nearby facilities in a filing to the FAA, which the agency published on Friday.

Persons: Elon Musk, Jeff Bezos, Musk, Sue, —, Elon Musk isn't Organizations: Service, FAA, Elon, Business

☆ 911 call logs for Tesla's HQ reveal reports of 'terroristic' threats and attempted extortion
▼ + stars: | 2024-06-26 | by ( Natalie Musumeci | Grace Kay | ) www.businessinsider.com time to read: +14 min

"Wire $300,000 dollars to bitcoin account within 12 hours," the email to Kirkhorn added, according to the incident report. The case was ultimately suspended and no arrest was ever made, according to the incident report and Dark. AdvertisementSome Tesla workers told BI that tight production deadlines and the intensity of the work could sometimes create a high-pressure environment. We were just standing outside the building waiting to go back to work," one worker, who was there during the ordeal, told BI. The sheriff's office told local news at the time that the building was cleared and there was "nothing to substantiate the presence of a shooter at all."

Persons: —, Elon Musk, Musk, Tesla, Zachary Kirkhorn, Zachary Kirkhorn —, Austin Gigafactory, Kirkhorn, Travis, Kristen Dark, SUZANNE CORDEIRO, Austin, Joe Biden, Justin Mathew McCauley of, McCauley's, McCauley, Justin Sullivan, they'd, Apu Gomes, X, Mark Zuckerberg, Zuckerberg, Meta, Sheryl Sandberg, John Lennon Organizations: Service, Business, Securities, Exchange Commission, BI, YouTube, Tesla's, Tesla, Street Journal, Office, Musk, FOX, Austin, Factory, Getty, Elon, SEC, Meta, Twitter, BBC Locations: Austin, Travis, Texas, Nigeria, Justin Mathew McCauley of Minnesota, Minnesota, Fremont , California, Tesla's, Sparks , Nevada, Nevada

☆ SpaceX is building a NASA craft to intentionally destroy the International Space Station after retiring
▼ + stars: | 2024-06-26 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

A satellite image shows an overview of the International Space Station with the Boeing Starliner spacecraft, June 7, 2024. NASA will have a spacecraft from Elon Musk's SpaceX guide the International Space Station's destruction later this decade, the agency announced Wednesday. The National Aeronautics and Space Administration awarded an $843 million contract to SpaceX to build the so-called "U.S. Deorbit Vehicle." The spacecraft will be designed to guide the football-field-sized research laboratory back into the Earth's atmosphere after retiring in 2030. "It is crucial to prepare for the safe and responsible deorbit of the International Space Station in a controlled manner," NASA said in a press release, with the U.S. Deorbit Vehicle needed to "ensure avoidance of risk to populated areas."

Organizations: International, Boeing, NASA, Elon, SpaceX, National Aeronautics and Space Administration, Deorbit, International Space, U.S . Deorbit

☆ Inside Elon Musk's burn book — the non-exhaustive list of billionaires he's fought with in 2024
▼ + stars: | 2024-06-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk's ire this year has extended from Mark Zuckerberg to MacKenzie Scott. The mercurial billionaire has often fired insults and traded barbs at his contemporaries on X. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Elon, Mark Zuckerberg, MacKenzie Scott, Mark Cuban, —, Elon Musk, hasn't, Musk, BBC's James Clayton Organizations: Elon, Service, Business

☆ Luxury air travel is on the rise. Experts say you don't have to be rich to experience it.
▼ + stars: | 2024-06-26 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

Travel experts told Business Insider they had noticed an uptick in clients opting for luxury air travel experiences, from private jets to first-class and premium-class plane tickets. Oliver Bell, cofounder of luxury travel company Oliver's Travels, said this trend could be partly attributed to "revenge travel," where people are "willing to spend more for incredible experiences" in the aftermath of the pandemic. AdvertisementBut you don't have to be flushed with cash to experience luxury air travel. "A lot of people assume that flying private is only for the rich and famous, the Elon Musk's of the world," Bell said. For example, Surf Air is an LA-based private jet company that offers unlimited private flying memberships for $295 per month or $3,540 annually.

Persons: —, Oliver Bell, Bell, Elon, BI's Alesandra Dubin, Dubin, David Guthrie, it's, George Rose, Martina Coogan, Coogan, Guthrie Organizations: Service, Business, Forbes, Airlines, KLM, United, United Airlines, Delta's Locations: West Coast and Texas, LA, Vegas, Delta, Ireland

☆ Opinion: ‘Kinds of Kindness’ has a cultish take on toxic work culture
▼ + stars: | 2024-06-26 | by ( Opinion Noah Berlatsky | ) edition.cnn.com time to read: +7 min

In his new film, “Kinds of Kindness,” though, Yorgos Lanthimos goes further. Jesse Plemons is Robert in Yorgos Lanthimos’ new film, “Kinds of Kindness." Workplace harassment is a pervasive problem in a huge range of professions, from farm work to domestic labor to Hollywood itself. Remote work saves companies money by reducing rent and relocation costs, and because workers who work from home are more satisfied with fewer pay raises. People in “Kinds of Kindness” are pushed to mistake domination for kindness.

Persons: Noah Berlatsky, Yorgos Lanthimos, Lanthimos, Noah Berlatsky Noah Berlatsky, Emma Stone, Jesse Plemons, Willem Dafoe, Margaret Qualley, Hong Chau, Joe Alwyn, Mamoudou Athie, Hunter Schafer, Robert, Plemons, Raymond, Dafoe, —, Chau, balk, Raymond’s largesse, don’t, Yorgos, Atsushi Nishijima, MeToo, Harvey Weinstein, Jamie Dimon, Raymond isn’t, Raymond kisses Robert, Emily, Stone, Omi, she’s, Donald Trump’s, Steve Wozniak, Musk, Steve Jobs, Trump, Roberts Organizations: CNN, Searchlight, Hollywood, JPMorgan, Elon, Apple Locations: Chicago, Hong, Hollywood

☆ Tesla still has one massive leg up on every automaker
▼ + stars: | 2024-06-25 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

Tesla is building EVs for cheaper than anyone else. Lower input costs allow Tesla to set prices lower in a price-sensitive EV market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla is building EVs for cheaper than anyone else, and it's giving Elon Musk's car company a leg up even as more competition floods the market. This story is available exclusively to Business Insider subscribers.

Persons: Tesla, — Organizations: Service, Elon, Bank of America, Business Locations: Elon Musk's

☆ Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim
▼ + stars: | 2024-06-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

One is to fix problems with trim pieces, which can loosen and fall off the trunk, and the other is to address faulty motor controllers in the front windshield wipers. The report said a "non-functioning windshield wiper may reduce visibility in certain operating conditions, which may increase the risk of a collision." Tesla plans to replace the motor controller in the Cybertruck windshield wipers for customers. An earlier Cybertruck recall was issued to repair an accelerator pedal issue. The recall disclosures for the windshield wiper issue said that from Nov. 13, 2023, to Jun.

Persons: Tesla, —, didn't, Elon Musk, Musk, Tesla's, It's Organizations: National, Traffic Safety Administration, Ford, Tesla Locations: U.S, Austin , Texas, China

☆ Jeff Bezos' Blue Origin is annoyed with SpaceX's big rocket launches
▼ + stars: | 2024-06-25 | by ( Jaures Yip | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

Jeff Bezos' rocket company, Blue Origin, recently filed concerns to the FAA about Elon Musk's SpaceX, requesting that Starship's launch operations be potentially limited over environmental impact concerns. The SpaceX launch system is a work in progress. It also employs multiple properties "all within the vicinity " of SpaceX's proposed Super Heavy booster launches, Blue Origin said. SpaceX plans to launch 44 Starship-Super Heavy missions per year under a NASA lease, Blue Origin wrote in the filing. Neither SpaceX nor Blue Origin immediately responded to Business Insider's requests for comments ahead of publication.

Persons: —, Jeff Bezos, SpaceX's, Blue, Musk, Sue, chatbot Grok Organizations: Service, FAA, Elon, SpaceX, Business, Super, of, Kennedy Space Center, Heavy, NASA, CNBC Locations: SpaceX's

☆ The fertility crisis is here and it will permanently alter the economy
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

In the 1960s, there were six people of working age for every retired person, according to the World Economic Forum. “What you’re seeing is increased spending on programs like Medicare and Social Security as the baby boomers are aging into those programs. And then of course, fewer workers relative to the number of people who are receiving Social Security and Medicare benefits,” said Dahl. Social Security payments still provide about 90% of income for more than a quarter of older adults in the United States, according to Social Security Agency surveys. But without intervention, the Social Security trust fund will be depleted by the mid-2030s, meaning that only a portion of retirees’ expected benefits will be paid out.

Persons: it’s, Louis, Simona Paravani, ”, Elon Musk, Kimberly, Clark, Mark Schneider, he’s, Emmanuel Macron, Donald Trump, Molly Dahl, Dahl, Eric Schmidt, ” Schmidt, Goldman Sachs, Stefano Scarpetta, Li Qiang, Juliana Liu, Joyce Jiang, Li, China’s, Xi Jinping, Biden, Max Prosecutors, haven’t, Max, Read Organizations: London CNN, Organisation for Economic Co, Development, Economic, Federal Reserve Bank of St, BlackRock, Disease Control, Congressional Budget Office, CBO, Social Security, Social, Social Security Agency, Google, Summit, Federal Reserve Bank of Richmond, OECD, ” Companies, West Chinese, CNN, EV, Prosecutors, Boeing, Max, US Justice Department, Alaska Air, Justice Department, Federal Aviation Administration Locations: Chad, Niger, Somalia, Samoa, Tonga, Tajikistan, United States, London, China, Beijing, Dalian, Canada, Beijing’s “

☆ Trump’s company is valued ‘absurdly out of the realm of normal,’ LinkedIn billionaire says
▼ + stars: | 2024-06-25 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

But the LinkedIn co-founder is dumbfounded by the size of the social media fortune former President Donald Trump is sitting on. Trump’s conservative social media company, Truth Social owner Trump Media & Technology Group, is valued by Wall Street at a whopping $6 billion — even after a recent plunge in its share price. “That is wildly high,” Hoffman, who is now a director at Microsoft and a venture capital investor, told CNN. Trump’s stake is worth nearly $4 billionHoffman is hardly the first to express disbelief at the valuation of Trump Media. Based on Monday’s share price, Trump’s 114.75 million shares in Trump Media are valued at nearly $4 billion.

Persons: New York CNN — Reid Hoffman, Donald Trump, ” Hoffman, “, Elon Musk’s, Hoffman, Trump, Meta, —, Jay Ritter, Barry Diller Organizations: New, New York CNN, LinkedIn, Truth Social, Trump Media & Technology Group, Wall, Microsoft, CNN, Trump Media, Nasdaq, Reddit, Meta, Facebook, “ Trump Media, ” Trump Media, Trump, SEC, GameStop, AMC, University of Florida, ” Billionaire, MGM Resorts International, CNBC, White Locations: New York

☆ CNBC Daily Open: Dow posts best week since May, Tesla cuts 14% of workforce
▼ + stars: | 2024-06-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech-centric Nasdaq Composite remained flat, while the Dow Jones Industrial Average had its best week since May, rising 1.45%. Most Asia markets fallMost Asia-Pacific markets were trading lower as investors awaited inflation data from Australia and Japan later this week.

Persons: JPMorgan Chase, Goldman Sachs, Tesla, Elon Musk, Musk, Australia's, Kospi, Seng, Morgan Stanley's Andrew Slimmon Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Nasdaq, Dow Jones, Citigroup, JPMorgan, Bank of America, Apple Intelligence, Union, Nikkei, Bank of, CSI Locations: New York City, Asia, Pacific, Australia, Japan, Bank of Japan

☆ Elon Musk starts new beef with Lucasfilm's Kathleen Kennedy, says the 'Star Wars' chief is 'more deadly than the Death Star'
▼ + stars: | 2024-06-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

It looks like Elon Musk isn't a fan of what Lucasfilm chief Kathleen Kennedy has done with "Star Wars." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk doesn't like what Lucasfilm President Kathleen Kennedy has done with the Star Wars franchise. The Academy Award-winning film producer was appointed president of Lucasfilm after the company was acquired by Disney in 2012. But Kennedy's leadership of Lucasfilm has drawn a mixed reception from Star Wars fans.

Persons: Elon, Kathleen Kennedy, Kennedy, Musk, — Organizations: Lucasfilm, Service, Star Wars, Disney

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