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☆ 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

☆ 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

☆ New satellite will do double duty monitoring Earth and space weather
▼ + stars: | 2024-06-25 | by ( Ashley Strickland | ) edition.cnn.com time to read: +8 min

CNN —Forecasters will soon be able to see real-time mapping of lightning activity on Earth and keep a closer eye on solar storms unleashed by the sun thanks to a new weather satellite. The weather satellite lifted off aboard a SpaceX Falcon Heavy rocket from Kennedy Space Center in Florida at 5:26 p.m. What sets GOES-U apart from other satellites is that it’s carrying a new capability to keep an eye on space weather. The coronagraph will provide continuous observations of the solar corona, or the hot outer layer of the sun’s atmosphere, which is where space weather events originate, said Elsayed Talaat, director of NOAA’s Office of Space Weather Observations. The instrument’s capabilities will allow NOAA’s Space Weather Prediction Center to issue warnings and watches one to four days in advance and “mark a new chapter in space weather observatoions,” Talaat said.

Persons: ”, Ken Graham, Elsayed Talaat, ” Talaat, Steve Volz, ” Graham, Sullivan, Pam Sullivan Organizations: CNN, NASA, National Oceanic, Atmospheric Administration, Environmental, SpaceX, Kennedy Space Center, NOAA, National Weather Service, YouTube, GOES, Atmospheric Imaging, NOAA’s, Service Locations: Florida, Africa, New Zealand, Central, South America, Caribbean

☆ Elon Musk gives YouTuber a tour of SpaceX's new 'Starfactory' — take a look
▼ + stars: | 2024-06-24 | by ( Jaures Yip | ) www.businessinsider.com time to read: +1 min

Elon Musk gave YouTuber Tim Dodd a tour of SpaceX's Starfactory rocket production center. Starbase, located in south Texas, has transformed from tents to a massive production facility. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk gave an early glimpse into SpaceX's new Starfactory production facility. Just a day before Starship's Flight 4 successfully landed in the ocean, Musk was at the SpaceX site giving science YouTuber Tim Dodd, known by his channel moniker "Everyday Astronaut," an exclusive tour of SpaceX's rocket factory, including the new facility.

Persons: Elon Musk, Tim Dodd, —, Musk Organizations: SpaceX, Service, Starship's, Business Locations: Texas

☆ Elon Musk predicts universal basic income will take off once AI replaces workers. Read his 8 best quotes about UBI.
▼ + stars: | 2024-06-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Elon Musk sees universal basic income as a necessary response to automation eliminating human jobs. The Tesla chief predicts there will be "universal high income" that will give people more free time. Here are Musk's eight best UBI quotes, including that people should spend the cash as they wish. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne of the biggest champions of universal basic income (UBI) is Elon Musk, who expects it to become necessary when robots evict humans from their jobs.

Persons: Elon Musk, Tesla, — Organizations: Service, SpaceX, Business

☆ The new laptop-sized Starlink Mini could be the ultimate off-grid travel gadget
▼ + stars: | 2024-06-21 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

SpaceX internet division Starlink is offering a new smaller, more portable satellite dish. The laptop-sized Mini device draws less power than the full-sized Standard, and can reach 100Mbps. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Starlink, the satellite internet division of SpaceX, is now offering a new smaller, more portable dish it calls the Mini. At 11.75 inches by 10.2 inches and weighing less than 2.5 pounds, the laptop-sized device fits easily into a backpack and can reach 100Mbps.

Persons: — Organizations: SpaceX, Service

☆ Elon Musk quietly had a third child with his Neuralink executive Shivon Zilis
▼ + stars: | 2024-06-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Elon Musk quietly had a third child with Neuralink's Shivon Zilis, Bloomberg reported. Musk has at least 11 children, including five with his first wife and three with Grimes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk quietly had another child with an executive at one of his companies. Neuralink's director of special projects, Shivon Zilis, had another of Musk's children earlier this year, according to a Bloomberg report published Friday.

Persons: Elon Musk, Neuralink's Shivon Zilis, Musk, Grimes, —, Shivon Zilis, It's Organizations: Bloomberg, SpaceX, Service, Business

What's next: Media Matters filed a motion to dismiss Musk's lawsuit in March, but a judge has yet to rule. VCG/GettyGovernment lawsuits and investigationsSEC investigation into Musk's Twitter takeoverThe issues: The Securities and Exchange Commission is investigating Elon Musk's Twitter purchase. Matt Winkelmeyer/Getty ImagesPersonal lawsuits against MuskTornetta v. MuskThe issues: Tesla shareholder Richard Tornetta sued Musk and Tesla in a class action lawsuit regarding Musk's compensation package, which was worth $55.8 billion at the time. Several lawsuits also allege Musk discriminated against them because of their race, gender, or disability in choosing to fire them. The executives were set to receive golden parachutes, but claim Musk and X have not paid them out.

Persons: —, Elon Musk, Musk, Claire Boucher, Grimes, Alex Spiro, Sam Altman, Donald Trump, Spiro, Anna Webber, Angelo Carusone, What's, Gina Carano, Schaerr Jaffe, Tesla, Musk's, Elon, SEC hasn't, Elon Musk's, who've, Owen Diaz, Matt Winkelmeyer, Richard Tornetta, Kimbal Musk, He's, Boucher, Benjamin Brody, Brody, Brody reverberated, Ben Brody, didn't, Robert Kaiden, Kaiden, he's, Agrawal, Parag Agrawal, Ned Segal, Twitter Vijaya Gadde, Sean Edgett, Segal, hadn't Organizations: Service, SpaceX, Business, OpenAI, SEC, Trump, Trump —, Elon, Variety, Media, X Corp, Disney, National Labor Relations Board, UAW, Tesla, Getty Government, Twitter, Securities, Exchange Commission, Justice Department, Reuters, Traffic, Administration, NHTSA, Apple, NLRB, Musk's SpaceX, US, Employment Opportunity, Musk, Nazi, Litigation Locations: Texas, Texas and Missouri, America, Nazi Germany, California, Delaware, San Francisco

☆ 'Quiet vacationing' shows how sad America's work culture has become
▼ + stars: | 2024-06-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at why the rise of "quiet vacationing" shows the depressing state of America's work culture . If you're unfamiliar with the distinction, let me introduce you to a new workplace phrase: quiet vacationing . But Business Insider's Emily Stewart argues workers feeling too stressed to fully take time off is a sad example of America's work culture. The irony is that quiet vacationing could arguably put you in a worse position for your job these days.

Persons: —, Jenny Chang, Rodriguez, Slack, Emily Stewart, Martin Barraud, Wally Pipp, Pipp, Lou Gehrig, Wally Pipped, Alyssa Powell, Steve German, Arizona's, Mohamed El, Erian, China's, Brooks Kraft, They've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Business, New York Yankees, American League, Yankees, Getty, Partners, Alfa Bank, YouTube, Foo Fighters, BI, Amazon, Bain & Company, Brooks Kraft LLC, Harvard, Hollywood . Media, Dell Locations: Arizona, Miami, China, Beijing, Shanghai, Russia, Hollywood, New York, London

☆ SpaceX unveils backpack-sized 'Starlink Mini' satellite internet antenna for $599
▼ + stars: | 2024-06-20 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

The company is offering a "limited number" of the Starlink Mini antennas for $599 each in an early access release. SpaceX is rolling out a compact version of its Starlink antennas called "Mini," which the company is advertising as a mobile option for its satellite internet customers. The Starlink Mini antenna is about the size and weight of a laptop, at just over 2 pounds and measuring at about 12 inches by 10 inches by 1.5 inches. The email did not specify when Starlink Mini deliveries would begin. SpaceX CEO Elon Musk wrote in a post Monday that setting up a Starlink Mini took less than 5 minutes.

Persons: Mini, Michael Nicolls, Elon Musk, Musk Organizations: SpaceX, CNBC, Starlink Locations: United States

☆ Super Micro, Dell shares jump as Elon Musk calls them suppliers to xAI supercomputer project
▼ + stars: | 2024-06-20 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Shares of Dell Technologies and Super Micro Computer jumped Thursday after Elon Musk revealed that the two hardware makers will provide servers to help his artificial intelligence startup xAI develop a supercomputer. "Dell is assembling half of the racks that are going into the supercomputer that xAI is building," Musk said in an X post, adding that Super Micro will also be involved. Dell shares climbed more than 3% in premarket trading, while Super Micro popped roughly 5%. The technology would potentially help Tesla develop the computer vision and large language models needed for robots and autonomous vehicles. Michael Dell, CEO of Dell, said Wednesday in an X post that his firm is building a "Dell AI factory" with Nvidia to power Musk's AI bot Grok.

Persons: Elon Musk, Tesla, Musk, Michael Dell Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Dell Technologies, Micro Computer, Dell, Microsoft, Google, Nvidia Locations: Beverly Hills , California, Buffalo , New York, Austin , Texas

☆ Elon Musk is trying to woo advertisers after telling them to ‘go f–k yourself’
▼ + stars: | 2024-06-20 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —Elon Musk told advertisers last year to “go f**k yourself.” This year, he is showcasing a much different attitude. The erratic billionaire, realizing that he very much needs major advertisers to power X, was in the South of France on Wednesday, attending Cannes Lions, the world’s largest advertising festival. Put together, it’s is no mystery why major brands have taken their advertising dollars elsewhere. Musk even said at the time that the damage to X’s bottom line was so great, it could eventually kill the company. Musk likely does not want to see the platform go the way of the woolly mammoth, which is why he is now trying to woo advertisers back.

Persons: New York CNN — Elon Musk, Mark Read, Musk, —, ” Read, Andrew Ross Sorkin, hadn’t, “, ” Musk, X, it’s, ”, Joe Biden’s, Donald Trump Organizations: New York CNN, France, Cannes Lions, WPP, SpaceX, Associated Press, Washington Post, Democratic Party, Republicans Locations: New York, South, Israel, Mexico, Washington

☆ There's a pipeline of former Tesla staffers to Elon Musk's shiny new startup xAI
▼ + stars: | 2024-06-19 | by ( Kali Hays | Grace Kay | ) www.businessinsider.com time to read: +5 min

People who work for an Elon Musk company have an opportunity to do something uncommon in business. Some recently sued Musk over claims that he's funneling AI talent to xAI instead of Tesla. He said earlier this year he was "uncomfortable" expanding Tesla's AI and robotics capabilities without additional voting control. Related storiesThe carmaker's CEO also recently diverted prized chips necessary for AI work that was headed for Tesla to xAI, CNBC reported. Most of the xAI employees who formerly worked at Tesla started working at the startup immediately after Tesla enacted mass layoffs earlier this year.

Persons: Musk, Tesla, xAI, —, Kali Hays, Grace Kay Organizations: Service, Elon Musk, Business, xAI, Twitter, CNBC, BI, EV, SpaceX, The Boring Locations: Neuralink, Tesla, xAI, khays@businessinsider.com, gkay@businessinsider.com

☆ Boeing Starliner: Two astronauts wait to come home amid spacecraft issues
▼ + stars: | 2024-06-19 | by ( Jackie Wattles | ) edition.cnn.com time to read: +9 min

Spaceflight veterans Suni Williams and Butch Wilmore arrived at the space station aboard the Starliner on June 6. It’s not uncommon for astronauts to unexpectedly extend their stay aboard the space station — for days, weeks or even months. But the situation makes for a moment of uncertainty and embarrassment that joins a long list of similar blunders by the Boeing Starliner program, which is already years behind schedule. The Starliner spacecraft on NASA's Boeing Crew Flight Test is pictured docked to the Harmony module's forward port on June 13 as the International Space Station orbited 262 miles above Egypt's Mediterranean coast. The first Starliner test mission, flown without crew in late 2019, was riddled with missteps.

Persons: CNN —, Suni Williams, Butch Wilmore, Williams, Wilmore, it’s, “, ”, Steve Stich, Mark Nappi, It’s, Stich, Starliner, Wilmore —, Robert Behnken, Douglas Hurley, Joel Kowsky, Bob Behnken, Doug Hurley —, Hurley, Behnken’s, ” Stich, Michael Lembeck, Lembeck, —, Dragon, ” Lembeck, ” Nappi, “ Everything’s, ” Williams Organizations: CNN, NASA, International, Spaceflight, Boeing, NASA's Boeing, Harmony, SpaceX, International Space, University of Illinois Locations: firma, University of Illinois Urbana, Champaign

☆ Elon Musk's Starlink satellites could burn up the ozone layer, scientists warn
▼ + stars: | 2024-06-18 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Read previewInternet satellite networks like Elon Musk's Starlink could contribute toward the depletion of the ozone layer, a new study claims. There are currently more than 8,000 internet satellites in low-earth orbit, of which about 6,000 are Starlink ones, a press statement said. SpaceX has plans to launch another 42,000 Starlink satellites, according to Space.com. The first launch carrying experimental Starlink satellites was in 2019. AdvertisementA 1987 ban on CFCs helped slow the process, and by 2013, authorities were projecting that the ozone layer would repair itself within a few decades.

Persons: —, Elon Musk's, Mark Handley, University College London Elon Musk, CFCs, Starlink Organizations: Service, Elon, University of Southern California's Department, Astronautical Engineering, Business, SpaceX, Amazon, University College London Elon, European Space Agency, USC Locations: Ukraine, Antarctica, Brazil

☆ Elon Musk's gamer streams are a new way to hear him riff on Tesla, SpaceX, and Neuralink
▼ + stars: | 2024-06-18 | by ( Jaures Yip | ) www.businessinsider.com time to read: +1 min

Fans can tune into Elon Musk's gamer livestreams on X, which can last multiple hours. Musk streams under the handle cyb3rgam3r420 and plays games and answers questions via the chat. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A known avid gamer, the Tesla CEO has recently been streaming live on X, formerly Twitter, the social media company he owns. The livestreams are under his gamer-focused handle @cyb3rgam3r420 (yes, it references 420 — a favorite number of Musk's), not his usual @elonmusk handle.

Persons: Musk, —, Elon Musk Organizations: Elon, Service, Business Locations: Mars

☆ These are Elon Musk's top podcasts
▼ + stars: | 2024-06-17 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Elon Musk shared some of his favorite podcasts and audiobooks on a recent livestream. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk recently shared some of his favorite podcasts, and —spoiler alert — they're mostly on the subject of history. "I like history podcasts in general," he said, according to one Tesla fan's recap of the 5-hour livestream. Any kind of narrative is just a story really, it's a story about reality or at least someone's perception of reality."

Persons: Elon Musk, — Organizations: Service, SpaceX

☆ CNBC Daily Open: Nasdaq record, Tesla future value?
▼ + stars: | 2024-06-17 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Alain Jocard | AFP | Getty ImagesThis 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. This valuation, however, wouldn't be based on Tesla's success as an electric vehicle manufacturer, but rather as a robotics company. While Musk didn't provide a specific timeframe for this claim, he also suggested Tesla could reach a $5 trillion to $7 trillion valuation as a robotaxi company. In 2020, Tesla's worth even surpassed the combined value of Toyota, Volkswagen, Hyundai, GM, Ford and BMW.

Persons: Elon Musk, Porte, Alain Jocard, Elon, Tesla, Cathie Wood, Wood, CNBC's, Dan Ives, Chris Ailman, Ailman, CNBC's Michael Santoli, Jeff Cox, Michael Santoli, Jordan Novet, Katie Bartlett, Pia Singh, Riley de León, Spencer Kimball, Lisa Kailai Han, Brian Evans Organizations: SpaceX, Twitter, Porte de, AFP, Getty, CNBC, Toyota, Volkswagen, Hyundai, GM, Ford, BMW, California State Teachers, Nvidia, & $ Locations: Paris, Tesla

☆ At this comedy show, tech workers are the butt of every joke
▼ + stars: | 2024-06-17 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +8 min

But comments like these are par for the course at Socially Inept, a comedy show hosted by former tech employees who make the audience — which is largely made up of tech workers themselves — the material. Socially Inept was founded by Jesse Warren and Austin Nasso, two former Big Tech employees. AdvertisementNasso, Oster, and Warren met through Seattle's comedy scene when Nasso and Warren worked Big Tech jobs in the city. It makes it seem like you're in on the joke, even when you're also kind of the butt of the joke. And for the most part, it seemed like tech workers in the audience were very self-aware and took their roasts in stride.

Persons: —, She's, Peter Jay Sharp, Jesse Warren, Austin Nasso, Nikita Oster, Boston —, Nasso, Oster, Warren, Masha Oster, — Warren, Justin Bieber, James Franco, Tom Brady, revel, they're Organizations: Service, Business, Flatiron District, Union Square Ventures, Google, Big Tech, Boston, Microsoft, SpaceX, Valley Bank, Army, eBay, Tech Locations: New York, Hudson, Manhattan, San Francisco , LA, Miami, Seattle, LA, hurtfulness

☆ Forget Elon Musk’s record pay package from Tesla. More could be on the way.
▼ + stars: | 2024-06-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years. “The chancellor found a number of defects in the process.”But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision. “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. Ark Invest has a five-year target price for Tesla shares at $2,600 a share. Not everyone on that list got there through packages of stock options.

Persons: Elon Musk, Tesla, Chancellor Kathaleen McCormick, Musk, It’s, “ It’s, Samantha Crispin, Baker Botts, “, ” Musk, McCormick’s, Elon, ” Tesla, Robyn Denholm, ”, Tasha Keeney, ” Elon Musk, Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page, Bill Gates —, Zuckerberg, McCormick Organizations: New, New York CNN, CNN, Tesla, ARK Invest, Elon, Invest, Microsoft, Apple, SpaceX, Amazon, Facebook Locations: New York, Delaware, Texas, “, Tesla

☆ Elon Musk has a lot to lose — or gain — based on who wins the presidential election
▼ + stars: | 2024-06-16 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

While Musk is increasingly flexing his political power, whoever wins the White House could drastically impact the billionaire and his businesses. Here's how things could shake out for Musk under a second Trump administration versus a Biden win. Tusk said Biden doesn't think of Elon as a rival — he probably doesn't think about him at all. Advertisement"On the Trump side, Musk needs to be careful and not go headlong into this. Musk and Biden campaign representatives did not respond to requests for comment from Business Insider.

Persons: —, Elon Musk, it's, hasn't, Musk, Trump, Brian Hughes, Bradley Tusk, Tusk, he'd, You've, Stacey Lee, Johns, Elon, Biden, Joe Biden, Joe Biden's, Lee, it'd, Biden doesn't Organizations: Service, Trump, Business, Wall Street, Biden, Elon, SpaceX, Force, Johns Hopkins Carey Business School Locations: Washington, Paris, United States

☆ The complicated partnership between Apple and OpenAI
▼ + stars: | 2024-06-14 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices later this year. “I think Apple will take a pragmatic approach to the OpenAI partnership,” Wood said. Apple said it will not share any personal user information with OpenAI, so inquiries made through ChatGPT won’t be linked to an Apple user’s account. So it came as no surprise when some industry watchers, including Elon Musk, were quick to react to Apple’s partnership with OpenAI. “When users do query ChatGPT, Apple will track the prompts and gather metrics to improve its own models,” he said.

Persons: Sam Altman, Steve Wozniak, OpenAI, Altman, Tim Cook, ”, Ben Wood, “ Apple, Siri, Apple, ” Wood, Jeff Chiu, It’s, ” Cook, it’ll, Wood, Reece Hayden, Elon Musk, Musk, ” Musk, Annette Zimmermann, ” Andrew Cornwall, Forrester, “ Organizations: CNN, Apple, Insight, Apple Intelligence, Nvidia, Microsoft, ChatGPT, ABI Research, Industry, OpenAI, SpaceX, Gartner Locations: China, Washington, Cupertino , Calif

☆ How Tesla Shareholders Upheld Elon Musk’s Sky-High Pay
▼ + stars: | 2024-06-14 | by ( Lily Boyce | Jason Karaian | ) www.nytimes.com time to read: +5 min

How Tesla Shareholders Upheld Elon Musk’s Sky-High PayTesla shareholders on Thursday voted to reaffirm a roughly $48 billion compensation package for Elon Musk, which was originally approved in 2018 and was nullified by a judge early this year. Mr. Musk’s pay package helped him become one of the richest people in the world. Thursday’s vote arose from a court case in Delaware, where the company is incorporated, that voided Mr. Musk’s pay package. California Public Employees’ Retirement System, or CalPERS, the largest pension fund in the United States, also opposed the pay package. The debate about Mr. Musk’s compensation raised questions about the limits of executive compensation and the accountability of Silicon Valley billionaires whose wealth gives them vast influence.

Persons: Elon Musk, Elon, Kimbal, Tesla, Musk, Eli Lilly, Nvidia Berkshire Hathaway Apple Tesla, Bernstein Organizations: Tesla, Elon, Sky, The New York, Mr, Norges Bank Investment Management, California Public, Broadcom, Chase Amazon, Nvidia Berkshire, The New York Times, Silicon, SpaceX, Fortune Locations: Delaware, United States, Texas, Austin

☆ Tesla shareholders vote to reinstate Elon Musk’s $56 billion pay package
▼ + stars: | 2024-06-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla shareholders on Thursday voted to ratify CEO Elon Musk's mammoth 2018 pay plan, five months after a judge in Delaware ordered the company to rescind the package, finding it had been improperly granted by the board. Watch Elon Musk speak at the Tesla shareholder meeting nowThe compensation package was previously worth as much as $56 billion in Tesla stock. However, during last year's meeting, Musk promised shareholders he would spend less time on the app going forward, calling the business a "short-term distraction." Regarding the Cybertruck, which hit the market in late 2023, Musk said deliveries are picking up. Musk promised Tesla would move into "limited production" of Optimus in 2025 and test out humanoid robots in its own factories next year.

Persons: Elon, Musk, Judge Kathaleen McCormick, didn't, Tesla, He's, Pony.ai, Didi, Waymo, Optimus, Cathie Wood Organizations: ., Shareholders, SpaceX, Tesla, ARK Locations: Delaware, Austin , Texas, China, Texas

☆ Video: Former employee suing SpaceX and Elon Musk tells CNN what it was like working at company
▼ + stars: | 2024-06-13 | by ( Ontaria Woods | ) edition.cnn.com time to read: 1 min

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