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☆ I went to law school in Mexico and an Ivy League in the US. It was cheaper and easier to make friends in Mexico.
▼ + stars: | 2024-11-20 | by ( Santiago Barraza Lopez | ) www.businessinsider.com time to read: +6 min

AdvertisementI first went to law school in Mexico, where people were more open to friendships. However, the top three global financial hubs (New York, London, and Singapore) belong to common law countries. The US has a common law system, meaning that laws come from uncodified case law resulting from court decisions. Law schools in Mexico take a more theoretical approach, while law schools in the US focus on the practical side. In my case, both law schools made sure we acknowledged this in order to understand how useful we can be.

Persons: — Organizations: Columbia, Universidad Iberoamericana, Columbia University, US, Law Locations: Mexico, Europe, Asia, South America, Africa, New York, London, Singapore

☆ I helped Tom Cruise and other celebrities divorce, but I've been happily married for 38 years. I've learned that dates — and postnups — can be key to marital bliss.
▼ + stars: | 2024-11-12 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In the 1980s, you still needed grounds for divorce, and hearing about the details of a marriage breakdown felt sexy and salacious. I've helped celebrities like Tom Cruise, Michael Douglas, and Wendy Williams get divorced and worked with billionaires whose divorces were in the headlines. My personal life seems like an oxymoron: I've been happily married to my husband, Piero, for 38 years. From building a life with Piero to helping clients divorce, I've seen marriage at its best and worst.

Persons: Marilyn Chinitz, She's, —, Blank, I've, Tom Cruise, Michael Douglas, Wendy Williams, Piero, you'll, fiancé, wouldn't, Postnups Organizations: Service Locations: London, Stockholm

☆ I landed a job with a 'magic circle' law firm but still went all out to get an internship at a US bank. It was the best use of my last summer in college — here's why.
▼ + stars: | 2024-10-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Adrian Teh secured a job offer with a top UK law firm in August 2023, two years before graduating. But that wasn't the case for me — I was also in the running for a summer internship with a US bulge bracket bank. I secured that investment banking internship as well. Adrian TehSpending my summer interning gave me a better sense of what I wanted to do. AdvertisementIn comparison, I thought working in a law firm offered relatively fewer exit opportunities.

Persons: Adrian Teh, Teh, —, interning, I'm Organizations: Service, Singapore Management University, Bankers Locations: Singapore

As Republican vice presidential nominee JD Vance campaigns across the country, his wife, Usha Vance, has been a near-constant presence by his side. Reporters huddled under the wing of JD Vance’s campaign plane often get a glimpse of a book's dust cover as Usha Vance climbs the towable stairs or stands on the tarmac. Though she’s a fixture on the campaign trail, Vance has not occupied a forward-facing public role like other political spouses. As JD Vance has noted on the campaign trail, she left her corporate law firm following the senator’s nomination for vice president in July. Usha Vance, an undergraduate student of history at Yale, went on to study early-modern history at the University of Cambridge.

Persons: Vance, Usha Vance, Emily Wilson —, ” Vance, “, Daniel Mason’s “, Tana French’s “, Woods, Helene, JD, Alec Hernandez, Anthony Doerr’s, Donald Trump, Jill Biden, Michelle Obama, Doug Emhoff, Kamala Harris, Lynne Cheney, Laura Bush, It’s, I’ve, ”, Usha Vance —, clerkships, Vance “, JD Vance, ” JD Vance, ” Usha Vance, ” JD Vance nodded, Usha, Usha Vance’s, “ Usha, Homer’s, ” Alec Hernandez, Zadie Smith, Aleksandr Solzhenitsyn, “ It’s, —, Herbert Butterfield’s “ Organizations: University of Pennsylvania, NBC, Republican, JD, White, National Endowment, Humanities, New York Times, Yale University, University of Cambridge, Yale Law School, Yale, Fox News, GOP, Cambridge Locations: Pennsylvania , Arizona , Michigan, Colorado, California, Woods, New England, America, Virginia, Florida, Cincinnati, China, Pennsylvania

Pittsburgh CNN —In the years that Pennsylvania Senate candidate Dave McCormick led one of the world’s largest hedge funds, the firm bet millions of dollars against some of the state’s biggest and most iconic companies, financial filings show. For financial institutions, short positions can be lucrative. The fund shorted about four dozen companies from Pennsylvania during McCormick’s tenure, the records show. The fund did invest in stocks of some of the same Pennsylvania companies it shorted in other years, and overall, it reported spending more money buying stocks of Pennsylvania companies than shorting them in four of the five annual reports reviewed by CNN. She argued that the short positions Bridgewater took in Pennsylvania companies didn’t negatively impact employees because they represented a small fraction of each company’s overall value.

Persons: Dave McCormick, McCormick, “, ”, Kevin Boltz, Democratic Sen, Bob Casey –, Casey, Luke Sharrett, Elizabeth Gregory, Dave, ” Gregory, Bridgewater, ” McCormick wasn’t, Andrew Jennings, Dan Mallinson, “ They’re, ” Mallinson, “ That’s, ” Eric Talley, Talley, I’m, Justin Merriman, McCormick’s, Biden, Bernie Hall, ” Hall, Gregory, Michael M, Eric Hovde of, Tim Sheehy, Bernie Moreno, dogging McCormick, Mallinson Organizations: Pittsburgh CNN —, Bridgewater Associates, The Hershey Company, US Steel, CNN, US Department of Labor, Republican, Hershey, Democratic, Bridgewater, Bloomberg, Getty, McCormick’s, Bridgewater Equity Fund, Labor, Securities and Exchange Commission, Comcast, Penn National Gaming, Emory University School of Law, Penn State, Columbia University, Steel, Japan's, Nippon Steel, Keystone, Nippon, Pennsylvania, United Steelworkers, Senate, Penn Locations: Pennsylvania, Bridgewater, Harrisburg, Pittsburgh, China, Eric Hovde of Wisconsin, Montana, Ohio

“I have had two spectacular Notre Dame law clerks. The traditional elite law schools dominate Supreme Court clerkships, with many justices hiring clerks from the same law schools they themselves attended and maintaining close links with faculty members. Barrett, who graduated from Notre Dame Law School, is the only member of the current court not to have a law degree from Harvard or Yale. Within that context, Notre Dame is scrapping with other law schools for the remaining clerkships and has performed well. Another conservative-aligned law school that is making inroads is George Mason University’s Antonin Scalia Law School in Virginia, which has also placed some graduates in Supreme Court clerkships.

Persons: Annie Ortega, Barrett, “, Joshua Mannery, ”, Aliza Shatzman, Ted Cruz, Josh Hawley, Kari Lorentson, Elizabeth Totzke, Christian Burset, Patrick Reidy, Neil Gorsuch, Kavanaugh, Gorsuch, “ It’s, ” Kavanaugh, ” Nicole Garnett, Clarence Thomas, Barrett’s, Nicole Garnett, Patrick F, Evan Cobb, clerkships, George Mason University’s Antonin Scalia Organizations: Federalist Society, Notre Dame Law School, Catholic, Notre Dame, Notre, University of Notre Dame, NBC, U.S . News, Harvard, Yale, University of Chicago, Duke University, University of Pennsylvania, Columbia University, School, Supreme Locations: Texas, clerkships, U.S, Stanford, Columbia, Virginia

☆ Elon Musk's battle with Brazil over content on X may be drawing to a close — as soon as he pays the last bill
▼ + stars: | 2024-09-30 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Last week, Elon Musk's X agreed to comply with orders from Brazil's Supreme Court. Reuters reported Friday that the Brazilian courts hit X with one last fine of $1.8 million. AdvertisementIt looks like Elon Musk's battle with Brazil's Supreme Court over content moderation concerns on X may finally be drawing to a close, a week after the social media platform agreed to comply with orders from Brazil's high court. AdvertisementWith the latest $1.8 million fine, de Moraes is "making a final demand on Elon Musk," Sérgio Botinha, an international business lawyer in Brazil, told Business Insider. AdvertisementGreg Barnett, an American lawyer who helps US clients solve business and legal problems in Brazil, agreed that Musk's saga of challenging de Moraes is likely over.

Persons: Elon Musk's, —, Elon, There's, Musk, Alexandre de Moraes, de Moraes, Jair Bolsonaro, Starlink, Elon Musk, Botinha, you've, he's, Greg Barnett, X, Moraes, Barnett Organizations: Brazil's, Reuters, Service, Business, Brazilian Supreme, Elon Locations: Brazil's, Brazil, American

☆ An OpenAI shake-up wouldn't just make Sam Altman richer — he'd have more control, too
▼ + stars: | 2024-09-27 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Since 2019, the company has had what Sam Altman called an "unusual" hybrid structure. AdvertisementAfter operating under what Sam Altman called an "unusual" structure for more than four years, OpenAI is reportedly preparing to become a for-profit business. OpenAI could be structured as a public-benefit corporation, Bloomberg reported, an entity that balances profit with mission. An OpenAI spokesperson told the outlet the nonprofit entity "will continue to exist" and was core to its mission. OpenAI was established as a nonprofit in 2015, but in 2019, it created a "capped profit" subsidiary, OpenAI LP.

Persons: OpenAI, Sam Altman, Altman, —, Mira Murati, Anthropic, it's, Anat Alon, Beck, Alon, Eric Chaffee, Chaffee, OpenAI didn't Organizations: Service, Reuters, Bloomberg, CNBC, Elon, Microsoft, Case Western Reserve University's School of Law, Case Western Reserve University Locations: OpenAI, Delaware

☆ OpenAI has 4 big challenges it needs to conquer in its quest for AI dominance
▼ + stars: | 2024-09-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +9 min

OpenAI bleeds C-suite executivesAs OpenAI chases a massive fundraising round, the startup continues to deal with a staff exodus. The nonprofit side of OpenAI will still exist and have a minority stake in the for-profit company, the sources told Reuters. "Given the ambitions of OpenAI, a non-profit structure has been too constraining. AdvertisementThe debate over whether OpenAI should be a for-profit company has been a bone of contention for one very vocal tech industry bigwig — Elon Musk. Park, the corporate law expert, told BI that the for-profit governance structure could also leave OpenAI vulnerable to greater government scrutiny.

Persons: —, OpenAI, Mira Murati, Sam Altman's, Murati, Barret Zoph, Bob McGrew, Altman, Greg Brockman, Wojciech Zaremba, Brockman, Ilya Sutskever, John Schulman, Peter Deng, Sutskever, James, I'd, Slack, Gene Munster, She's, Mira, — Elon, Musk, Gary Marcus, Marcus, Musk's, Mark Zuckerberg, xAI, Sam Altman, Munster Organizations: Service, Technology, Business, Microsoft, Nvidia, Wired, University of California, OpenAI, Bloomberg, Deepwater Asset Management, Reuters, Intelligence, Guardian, Meta Locations: It's, OpenAI, Los Angeles

☆ There's a Reason Elon Musk Isn't Fighting for Speech Rights in France: Expert
▼ + stars: | 2024-09-22 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

AdvertisementBut an expert on corporate law told Business Insider that there's a reason the billionaire isn't taking his battle of free speech principles to, say, France. Musk has previously complied with content moderation requests from other governments, including the increasingly authoritarian nations of Turkey and India. In 2023, he indicated he would abide by the European Union's rulebook on content moderation, known as the Digital Services Act, Politico reported. Alon-Beck told BI that, in countries like France with strict laws around content moderation, Musk is no different than Durov, and she would expect he could be arrested if he continues to push the boundaries of local content moderation laws. AdvertisementRepresentatives for X, Telegram, and the Brazilian Supreme Court did not immediately respond to requests for comment from Business Insider.

Persons: —, Elon Musk, X, Musk, Alexandre de Moraes, cosplaying, ZIV8KbDCmk — Elon, isn't, Pavel Durov's, Pavel, Anat Alon, Beck, Pavel Durov, Durov, Alon, Elon, Tucker Carlson Organizations: Service, Elon, New York Times, Brazil's, SpaceX, Business, The Times, Case Western Reserve University's School of Law, Alon, Digital Services, Politico, Telegram, X, Brazilian Locations: Brazil, France, Turkey, India

☆ A Texas baby boomer who retired at 60 and moved to Mexico says housing, food, and a good life are cheaper, but gas is more expensive
▼ + stars: | 2024-09-18 | by ( John Towfighi | ) www.businessinsider.com time to read: +7 min

After taking two trips to Puerto Vallarta, Bartmess was convinced it was the perfect place to retire. His first trip to Puerto Vallarta was in 1976, and he said he had fond memories there. He said a fill-up of his Jeep Wrangler costs about $60 in Puerto Vallarta. In retirement, Bartmess has spent more time working on his creative writing, and he takes part in a Puerto Vallarta writers group. Bartmess has lived in Puerto Vallarta for 14 years and said he has no plans to leave.

Persons: —, Geary Bartmess, Bartmess, he's, Geary Bartmess Bartmess, Geary, He'd Organizations: Service, Social Security Administration, Business, Medicare, Puerto Vallarta Locations: Puerto Vallarta, Houston, Mexico, Canada, Japan, Texas, Puerto, American, Camarones

☆ Rose Harvey: Team GB runner says she completed Olympic marathon with broken leg
▼ + stars: | 2024-08-14 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —Team GB runner Rose Harvey completed the women’s marathon at the 2024 Paris Olympic Games despite having a broken leg, she said on social media. And according to the GB runner, scans after the race revealed Harvey had suffered a stress fracture to her femur. “But despite that most of my race goals having slipped away, there was still a tiny part of my Olympic dream that I could hang onto – and that was finishing the Olympic marathon. It was heartbreaking.”Harvey completed the Olympic women's marathon 78th overall with a time of 2:51:03. She had been selected to run for Team GB at the Paris Games after completing the 2023 Chicago Marathon in a time of 2:23:21, just 26 seconds off Hassan’s Olympic record time in Paris.

Persons: Rose Harvey, Harvey, ” Harvey, Harvey “, ”, Sifan Hassan, “, Cameron Spencer, Phil Kissi, she’ll, I’ll, It’s Organizations: CNN — Team, Olympic Games, Pancras International, British, Getty, Team GB, Paris Games Locations: St, London, Battersea Park, Paris, “

☆ I was kicked out of high school, so I turned to the Marines for a way forward. Now, I'm a corporate lawyer with degrees from Stanford and Harvard.
▼ + stars: | 2024-07-23 | by ( Elle Hardy | ) www.businessinsider.com time to read: +7 min

At 17, I was kicked out of high school because I skipped class to work at my fast-food job and hang out with my friends. I was always interested in the MarinesAfter getting kicked out of school, I enlisted in the Marine Corps. AdvertisementI got my GED and took 15 units of entry-level community college classes, like English 101 and US History. AdvertisementI left the military and began classes at a community collegeTragically, our first daughter died during birth. It's pretty amazing that a Black kid from a low-income family who didn't finish high school was able to achieve all of this.

Persons: —, Andrew Hanson, I'd, Stanford, I've, they've, Lauryn Haas Organizations: Service, Business, Marines, Marine Corps, School of Infantry, Tragically, Stanford, Columbia, Department of Justice, Harvard University, Department of Veterans Affairs, Harvard Locations: Virginia, Chicago, Camp Pendleton , California, Iraq, New Orleans, California, Washington, Cambridge , Massachusetts, Skadden, Slate, lhaas@businessinsider.com

☆ Meet the woman who helped boost JD Vance from Ohio obscurity to 'Hillbilly Elegy' superstardom
▼ + stars: | 2024-07-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +7 min

Read previewSen. JD Vance of Ohio has come a long way since graduating from Yale Law School in 2013. AdvertisementThe Marine veteran enrolled at Yale Law School in 2010 after graduating from Ohio State University. In his 2016 memoir "Hillbilly Elegy," Vance likened his year at the Ivy League institution to attending a kind of "nerd Hollywood." Vance's bestselling memoir "Hillbilly Elegy" wouldn't have existed without Chua's helpJD Vance released his memoir "Hillbilly Elegy" in 2016. In the "Acknowledgments" section of "Hillbilly Elegy," Vance thanked both Bennett and Chua for their support.

Persons: —, Sen, JD Vance, Donald Trump, JD, Trump, Vance, Peter Thiel, Thiel, Amy Chua, Chua, Chua's, Amy Chua's, Bill Tompkins, Tina Bennett, Bennett, Tina, Tom Brokaw, Chua JD Vance, Usha Chilukuri, Anna Moneymaker, he'd, Usha, Chilukuri, America's Hitler, I'm, Trump's, J.D, @JDVance1, Brett Kavanaugh, Edward Luce Organizations: Service, Yale Law School, America, Business, Ohio State University, Ivy League, Yale, Harvard, Duke Law School, Getty, Trump, Supreme, Financial Times Locations: Ohio, United States of America

☆ JD Vance's wife Usha has SCOTUS ties going back to when she clerked for both John Roberts and Brett Kavanaugh
▼ + stars: | 2024-07-16 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

JD Vance's wife, Usha Vance, was a corporate lawyer, but she quit her job on Monday. She does have SCOTUS links, having clerked for Supreme Court judges John Roberts and Brett Kavanaugh. AdvertisementAll eyes were on Sen. JD Vance of Ohio when former President Donald Trump picked him as running mate for the 2024 race. But his wife, lawyer Usha Chilukuri Vance, is also accomplished in her own right — and has links to the US Supreme Court. Born to Indian immigrant parents and raised in the San Diego suburbs, Usha Vance went to Yale Law School with the Ohio senator.

Persons: Trump, JD Vance, JD Vance's, Usha Vance, John Roberts, Brett Kavanaugh, —, Sen, Ohio, Donald Trump, Usha Chilukuri Vance Organizations: Service, Yale Law School Locations: San Diego, Ohio

☆ I tried a job simulation tool to learn about working as a consultant at BCG
▼ + stars: | 2024-07-04 | by ( Tim Paradis | ) www.businessinsider.com time to read: +2 min

That's because after using a job simulation tool for a short time, I have a better sense of what working at the prestigious consulting firm might be like. This story is available exclusively to Business Insider subscribers. He told Business Insider that, growing up in a small town in Australia, he didn't come from a line of bankers, lawyers, or accountants. In the roughly 90 minutes I spent using Forage, the tool made me do some work. The tool also made me think like a consultant — or at least try to.

Persons: —, they'd, Goldman Sachs, Tom Brunskill, Brunskill Organizations: Service, Boston Consulting, KPMG, JPMorgan, Business, EAB Locations: San Francisco, Australia

☆ Wall Street Law Firms Are in a Poaching Frenzy. Kind of Like the N.B.A.
▼ + stars: | 2024-07-01 | by ( Maureen Farrell | Anupreeta Das | ) www.nytimes.com time to read: +1 min

Hotshot Wall Street lawyers are now so in demand that bidding wars between firms for their services can resemble the frenzy among teams to sign star athletes. In recent years, highly profitable private equity giants like Apollo, Blackstone and KKR have moved beyond company buyouts into real estate, private lending, insurance and other businesses, amassing trillions of dollars in assets. As their demand for legal services has skyrocketed, they have become big revenue drivers for law firms. This is pushing up lawyers’ pay across the industry, including at some of Wall Street’s most prestigious firms, such as Kirkland & Ellis; Simpson Thacher & Bartlett; Davis Polk; Latham & Watkins; and Paul, Weiss, Rifkind, Wharton & Garrison. Lawyers with close ties to private equity increasingly enjoy pay and prestige similar to those of star lawyers who represent America’s blue-chip companies and advise them on high-profile mergers, takeover battles and litigation.

Persons: Simpson Thacher, Davis Polk, Paul, Weiss Organizations: Blackstone, KKR, Kirkland, Ellis, Bartlett, Latham, Watkins, Garrison, Lawyers Locations: Rifkind, Wharton

☆ Wyoming, Delaware, and Montana are the most entrepreneurial states of 2024 so far. It might be due to business-friendly taxes.
▼ + stars: | 2024-06-21 | by ( John Towfighi | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Delaware and Montana are second and third in new business openings per 100,000 residents since the start of 2024. AdvertisementThe boom in business translates to 283 new businesses per 100,000 residents in Wyoming, 153 in Delaware, and 106 in Montana. Wyoming also led the nation in new business applications per capita in 2023, according to the Chamber of Commerce. Business-friendly taxationWyoming, Delaware, and Montana are all particularly attractive to new business owners due to their tax laws. AdvertisementAre you a new small-business owner in Wyoming, Delaware, or Montana?

Persons: —, Louis Fed, LendingTree, Louis, EIG Organizations: Service, Business, Census, Chamber of Commerce, Fed, of Labor Statistics, Louis Fed, Tax Foundation, Washington D.C, Fortune, state's, Corporations, Economic Innovation Group Locations: Wyoming, Delaware, Montana, In Montana, New York City, San Francisco, South Dakota, Nevada, Washington, , Wyoming, West, Wyoming , Delaware

☆ Elon Musk's $55 billion Tesla payday reckoning is almost here
▼ + stars: | 2024-06-12 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Read previewTesla kicks off its annual shareholder meeting tomorrow — and Elon Musk's $55 billion pay package is hanging in the balance. Tesla also indicated in a regulatory filing that they were considering putting forth an alternate pay plan if the proposal fails to go through. AdvertisementOver the past few months, Tesla has gone all out in its efforts to promote Musk's pay package and encourage investors to vote. Meanwhile, Tesla fans and Tesla employees have taken to social media over the past month to promote the proposal. Musk's compensation is not the only issue that Tesla investors have been weighing.

Persons: —, Elon Musk's, Tesla, Robyn Denholm, Musk, Anat Alon, Beck, Kimbal Musk, James Murdoch Organizations: Service, Business, Securities and Exchange Commission, Case Western Reserve University, P Global Market Intelligence, Reuters Locations: Delaware, Texas

☆ The battle over Elon Musk's pay package is a showdown between his army of supporters and institutional investors
▼ + stars: | 2024-06-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Read previewTesla is setting the stage for a battle between some vocal institutional investors and some of Elon Musk's biggest supporters. The executive pay plan, which was first approved in 2018, is centered on a series of goalposts around Tesla's financial growth. AdvertisementMeanwhile, Tesla has argued that the pay package is both fair and necessary to maintain Musk's focus on the car company. AdvertisementThe Tesla CEO has also promoted the proposal and criticized institutional investors who have spoken out against the pay plan. Ahead of the June 13 shareholder meeting, shareholders will be asked to vote on several other proposals in addition to Musk's pay package.

Persons: —, Elon Musk's, Musk, Tesla, Leo Koguan, Bloomberg —, Adam Jonas, Morgan Stanley's, Morgan Stanley, Anat Alon, Beck, Alon, I'd, they'd, Kimbal Musk, Murdoch Organizations: Service, Business, Securities and Exchange Commission, P Global Market Intelligence, Reuters, Bloomberg, Case Western Reserve University, Texas Locations: Elon, Delaware, Texas

☆ Trump's jury asked to re-hear the judge's 'rain metaphor' instruction — here's what that might mean
▼ + stars: | 2024-05-30 | by ( Jacob Shamsian | Laura Italiano | ) www.businessinsider.com time to read: +5 min

Read previewThe jury in Donald Trump's criminal hush-money trial had a specific request before starting deliberations on Thursday — they asked to hear again what they described in a note as the judge's "rain metaphor" instruction. It advises a jury that they can infer that it's raining — by seeing someone's wet umbrella, for example — even if they don't see the rain themselves. The "rain metaphor," as the jury note called it, is often used by judges in jury instructions. AdvertisementOn Wednesday afternoon, they asked for the judge to read back roughly a half-hour of testimony. After the judge completed his recitation of the jury instructions, two of the court stenographers re-read portions of the testimony.

Persons: —, Donald Trump's, Juan Merchan, Merchan, scribbled, Trump, Stormy Daniels, Daniels, Donald Trump, MARK PETERSON, Getty Images Trump, Michael Cohen, stenographers, David Pecker Organizations: Service, Business, New, Trump, Getty Images, Election, National Enquirer Locations: raincoats

☆ Should Elon Musk be paid $56 billion? Tesla shareholders get to vote
▼ + stars: | 2024-05-27 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Several investors released a joint letter this month urging fellow shareholders to vote down the package as excessive. Tesla shareholders approved the pay package in 2018, with compensation tied to Tesla's performance including its market value. And he still has time to meet goals he hasn't reached, including on revenue, because the pay package had a 10-year term. In the 440-page proxy statement explaining the vote, a committee of the Tesla board noted the "novel circumstances." Some people began sharing screenshots of their votes in April, shortly after the Tesla board announced the vote, and the deadline to vote online is June 12.

Persons: Elon Musk, The Beverly Hilton, Tesla, James Park, Musk, He's, Judge Kathaleen McCormick, McCormick, Nadya Malenko, hasn't, Ann Lipton, Lipton, — I'm, Musk's, there's, —, Rowe Price, didn't, Brad Lander Organizations: SpaceX, Tesla, The Beverly, Wall Street, University of California, CNBC, Bloomberg, Reuters, Boston College's, Tulane University, Disney, New York, Amalgamated Bank . Locations: Beverly Hills , California, U.S, Delaware, Austin , Texas, —, Los Angeles, Texas, New York City

☆ A Microsoft under attack from government and tech rivals after 'preventable' hack ties executive pay to cyberthreats
▼ + stars: | 2024-05-22 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +13 min

The decision by Microsoft to link executive compensation to successful cybersecurity performance is another is prompting discussions at other firms. One change the tech giant is making in response: linking executive compensation more closely to cybersecurity. In recent years, many Fortune 500 companies, including Apple, have added bonus pay tied to ESG metrics. The conversations about cybersecurity-linked executive pay have started taking place at other companies since Microsoft made its move, according to Aalap Shah, managing director at executive compensation consultant Pearl Meyer. Madnick's research shows that gaps in corporate culture are often culprits in high-profile hacks, not just the Microsoft example.

Persons: Brad Smith, Charlie Bell, Aalap Shah, Pearl Meyer, It's, I've, Shah, —, Stuart Madnick, Madnick, Ryan Kalember, unavoidability, Jen, Kalember, ransomware, Mike Doonan, Doonan Organizations: Microsoft, U.S, Hill, Google, U.S . Department of Homeland, Initiative, Microsoft Security, Team, Companies, Fortune, Apple, MIT, Infrastructure Security Agency, CNBC, Technology, State Department Locations: China, Russia, cybersecurity, U.S

☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. Former federal prosecutor Neama Rahmani agrees, adding that Zhao's personal wealth won't be affected by his sentence. That's a different siutation from Sam Bankman-Fried, the controversial ex-CEO and founder of crypto exchange FTX. Bankman-Fried received a 25-year prison term for crimes connected to the operation of his crypto exchange. "Negative long-term impact on Binance will diminish the value of CZ's investment in the crypto exchange," said Yadav.

Persons: Changpeng Zhao, Reuters Changpeng Zhao, Zhao, Gabriel Abed, Richard Jones, Tre Lovell, Neama Rahmani, David Ryder, Binance, Braden Perry, Sam Bankman, Joshua de Vos, de Vos, Fried, Yesha Yadav, That's, Forbes, he's, Lucas Kiely, Kiely —, —, Yadav, it's Organizations: Staff, Reuters, CNBC, U.S, U.S . Department of Justice, District, Toyota, Bloomberg, Getty, Bank, Commodity Futures Trading Commission, Vanderbilt University, Department, Securities and Exchange Commission, SEC Locations: Paris, France, Seattle, Zhao, Binance, Los Angeles, Seattle , Washington, Dubai, U.S, bitcoin, Iran

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