‘A classic bait and switch scam': California Democrat calls out Trump amid Social Security cuts
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Yahoo
an hour ago
- Yahoo
Tesla Gives CEO Musk $30 Billion Stock Award
Tesla approved an interim stock award with about $30 billion for CEO Elon Musk, a massive payout to keep the billionaire's attention on the automaker as a legal fight over a 2018 pay package drags on. Bloomberg's Danny Lee reports. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
- Bloomberg
Tesla Gives CEO Musk $30 Billion Stock Award
00:00 Talk us through the purpose of this pay package, apart from keeping Elon Musk's eyes on the wheel. Hey, good morning, Lizzy. So this package or this interim award worth $30 billion is designed to make Elon Musk stay at Tesla. So this is very important to the board, to investors now, at a time when they've been seeing a fall in sales, a falling share price. And Elon Musk has had his attention in all many directions. So this is this also partly stems back to that 2018 pay package which was shot down by the courts. So this is something that will make Elon Musk a little bit more whole. According to the board, a deal is a deal is what they said in giving this interim pay package. And if the world's richest person already worth $350 billion, this is a nice top up to already what he is worth. Nothing like $30 billion to focus the mind, is there Danny? This is a time when Tesla's China shipments are falling. Yeah, the Tesla China shipments on Monday came in lighter and it is a kind of a proxy for overall performance at Tesla because the Shanghai factory churns out more cars and more EVs for Tesla than any other around the world. And now we continue to see a slippage. The sixth in seven month we've seen a decline. So this does just reflect not just Tesla's own performance, but the especially in China, the world's biggest EV market. There is a competitive struggle underway and the likes of the bigger players like Tesla and BYD have been struggling. But Elon Musk, who's decided to take great control of of sales to try and revive and turn around Tesla that pay package will come into a broader focus and for him maybe focus the mind as he really extends that turnaround in the years to come.
Yahoo
7 hours ago
- Yahoo
Billionaire founder hoping for a Trump pardon sets sights on space
Billionaire founder hoping for a Trump pardon sets sights on space originally appeared on TheStreet. Justin Sun, the billionaire founder of the crypto firm Tron Inc. (Nasdaq: TRON), recently made a spaceflight aboard the Blue Origin, the Jeff Bezos-owned aerospace company. "A childhood dream from thirty years ago has finally come true," Sun wrote on X on Aug. 4. The crypto entrepreneur's spaceflight is among the most spectacular phenomena in the tech world, as it marks a unique intersection of crypto, fintech, and the space race. Naturally, the crypto community was piqued as to who else from the industry will board the spaceflight next. When an X user asked if Changpeng "CZ" Zhao, the billionaire founder of the Binance crypto exchange, will be the one, CZ said he might try but only after Elon Musk. "I am not an early adopter in this area," CZ remarked. Founded in 2017, Binance has been the world's largest crypto exchange by trading volume for years now. Notably, the exchange invested $500 million in Musk's acquisition of Twitter, later rebranded to X, in October the world's wealthiest man, is the leading tech mogul who leads companies like the space tech firm SpaceX, the electric car maker Tesla (Nasdaq: TSLA), and the social media platform X. While SpaceX sends human spaceflights and it even sent the first known Bitcoiner, Chun Wang, the co-founder of the Bitcoin mining company f2pool, to space on March 31, Musk himself has never been aboard such a journey. The space tech company, along with Tesla, also holds Bitcoin on its corporate balance sheet. Musk himself once talked highly of cryptocurrencies like Bitcoin and Dogecoin. Billionaire founder hoping for a Trump pardon sets sights on space first appeared on TheStreet on Aug 4, 2025 This story was originally reported by TheStreet on Aug 4, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
