Latest news with #BusinessInsider
Yahoo
35 minutes ago
- Business
- Yahoo
Elon Musk says Tesla shareholders will vote on investing in xAI
Elon Musk said Tesla will hold a shareholder vote on whether to invest in xAI. Musk said in March that xAI was valued at $80 billion. The company raised $10 billion last month. SpaceX is looking to invest in xAI, "subject to board and shareholder approval," Musk said. Elon Musk, Tesla's CEO, said the EV giant will ask its shareholders to vote on investing in his AI company, xAI. Musk was responding to an X user with the handle "TSLA4orphans," who said on Sunday that it would be unfair for Tesla retail investors if the company isn't allowed to invest in xAI. "It's not up to me. If it was up to me, Tesla would have invested in xAI long ago," Musk wrote on X on Sunday night. "We will have a shareholder vote on the matter," Musk added, though he did not specify when exactly the vote would occur. Tesla and xAI did not respond to requests for comment from Business Insider. Musk's remark comes just hours after he confirmed that his rocket company, SpaceX, is looking to invest $2 billion into xAI. The planned investment was first reported by The Wall Street Journal on Saturday. "It would be great, but subject to board and shareholder approval," Musk wrote in an X post on Sunday morning. This wouldn't be the first time xAI has sought to use its ties to Musk's business empire, or what it called the "Muskonomy," to pull in investments. Bloomberg reported in February 2024, citing a pitch deck it had obtained, that xAI had previously pitched investors on its links to Musk's businesses. Aside from running Tesla and SpaceX, Musk also helms his tunnelling company, The Boring Company, and AI brain chip company, Neuralink. In June 2024, Musk said he would prioritize "shareholders of my other companies, including Tesla," if any of his businesses went public. "Loyalty deserves loyalty," Musk wrote in an X post on June 8. Musk started xAI in July 2023. The company raised over $12 billion during its Series A, B, and C funding rounds last year and was valued at a reported $50 billion. In March, Musk announced that xAI had acquired X in an all-stock deal. Musk said the deal "values xAI at $80 billion and X at $33 billion ($45B less $12B debt)." Musk had bought X, then known as Twitter, in October 2022 for $44 billion. Last month, Morgan Stanley said xAI had raised $10 billion in debt and equity. The bank said the transaction was "oversubscribed and included prominent global debt investors." It added that the deal's proceeds will be used to develop xAI's data centers and Grok chatbot. Read the original article on Business Insider 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
Yahoo
3 hours ago
- Business
- Yahoo
The founder of a luxury hotel chain says today's tourists look nothing like they did 30 years ago
Banyan Group founder Kwon Ping Ho has spent over 30 years in the hospitality industry. Ho's luxury hotel chain launched its first resort in 1994 and now operates over 90 hotels globally. Ho told BI that tourists today have vastly different expectations from their parents' generation. Kwon Ping Ho has come a long way since he opened his first resort in Phuket in 1994. Ho's luxury hotel chain, Banyan Group, now operates over 90 hotels worldwide, including in countries like Cuba and Saudi Arabia. The 72-year-old told Business Insider that it's not just his company that's changed. His customers look much different than they did three decades ago, and they want different things out of travel. "When you talk about the people of my generation, when international travel just started, people were happy to go on group tours. They just go to a hotel and they eat in a hotel," Ho said on the sidelines of the International Conference on Cohesive Societies held in Singapore last month. "But young people today have long become jaded about international travel. They've been traveling with their parents," he added. "Today, when they're traveling on their own, they are looking much more for things that are out of the way." Ho said today's more seasoned travelers are a vastly different breed from yesterday's checklist sightseers. "They are much more into experiences, and not just to see something beautiful because they've probably seen that, done that with their parents already. They are looking at experiences which are deeper and allow them to interact with the local community," he continued. Ho isn't the only one who has noticed the generational shift taking place. Last year, McKinsey surveyed 5,000 travelers from China, Germany, the United Arab Emirates, the United Kingdom, and the US. The consultancy said that 52% of Gen Zers surveyed said they are willing to splurge on travel experiences compared to 29% of baby boomers surveyed. "One-size-fits-all tourism offerings of the past have grown outdated" as travelers seek "creative experiences that are tailored to their priorities and personal narratives," McKinsey wrote. Another change Ho said he noticed was in the countries from which tourists tended to hail and the places that they chose to visit. "When I first started in hospitality 30 years ago, the nature of tourism was one direction and one color," Ho said. "It was basically white people from Europe, traveling in one direction, from west to east." "Over the years, what I call 'rainbow tourism' has come up because of increasing wealth in other developing countries," he added. Ho said this has led to a "multicolored, multifaceted, exciting tourism of people from all over the world traveling to all over the world." "You've got Indians, you've got Africans, you've got Arabs, you've got Chinese, and Japanese, and so on, and then of course you've got young people from within the region," he continued. "That to me has been the biggest change." In January, UN Tourism's World Tourism Barometer said an estimated 1.4 billion tourists traveled internationally in 2024, an 11% increase over 2023. UN Tourism said it expected international tourism arrival numbers to grow by 3% to 5% in 2025. Read the original article on Business Insider
Yahoo
4 hours ago
- Business
- Yahoo
The founder of a luxury hotel chain says today's tourists look nothing like they did 30 years ago
Banyan Group founder Kwon Ping Ho has spent over 30 years in the hospitality industry. Ho's luxury hotel chain launched its first resort in 1994 and now operates over 90 hotels globally. Ho told BI that tourists today have vastly different expectations from their parents' generation. Kwon Ping Ho has come a long way since he opened his first resort in Phuket in 1994. Ho's luxury hotel chain, Banyan Group, now operates over 90 hotels worldwide, including in countries like Cuba and Saudi Arabia. The 72-year-old told Business Insider that it's not just his company that's changed. His customers look much different than they did three decades ago, and they want different things out of travel. "When you talk about the people of my generation, when international travel just started, people were happy to go on group tours. They just go to a hotel and they eat in a hotel," Ho said on the sidelines of the International Conference on Cohesive Societies held in Singapore last month. "But young people today have long become jaded about international travel. They've been traveling with their parents," he added. "Today, when they're traveling on their own, they are looking much more for things that are out of the way." Ho said today's more seasoned travelers are a vastly different breed from yesterday's checklist sightseers. "They are much more into experiences, and not just to see something beautiful because they've probably seen that, done that with their parents already. They are looking at experiences which are deeper and allow them to interact with the local community," he continued. Ho isn't the only one who has noticed the generational shift taking place. Last year, McKinsey surveyed 5,000 travelers from China, Germany, the United Arab Emirates, the United Kingdom, and the US. The consultancy said that 52% of Gen Zers surveyed said they are willing to splurge on travel experiences compared to 29% of baby boomers surveyed. "One-size-fits-all tourism offerings of the past have grown outdated" as travelers seek "creative experiences that are tailored to their priorities and personal narratives," McKinsey wrote. Another change Ho said he noticed was in the countries from which tourists tended to hail and the places that they chose to visit. "When I first started in hospitality 30 years ago, the nature of tourism was one direction and one color," Ho said. "It was basically white people from Europe, traveling in one direction, from west to east." "Over the years, what I call 'rainbow tourism' has come up because of increasing wealth in other developing countries," he added. Ho said this has led to a "multicolored, multifaceted, exciting tourism of people from all over the world traveling to all over the world." "You've got Indians, you've got Africans, you've got Arabs, you've got Chinese, and Japanese, and so on, and then of course you've got young people from within the region," he continued. "That to me has been the biggest change." In January, UN Tourism's World Tourism Barometer said an estimated 1.4 billion tourists traveled internationally in 2024, an 11% increase over 2023. UN Tourism said it expected international tourism arrival numbers to grow by 3% to 5% in 2025. Read the original article on Business Insider
Business Insider
6 hours ago
- Business
- Business Insider
Apple submits $150M a year bid for U.S. streaming rights for F1 races, BI says
Apple (AAPL) has submitted a bid worth at least $150M a year for the U.S. streaming rights for Formula 1 races beginning in 2026, Peter Kafka of Business Insider reports. The rights are currently held by Disney's (DIS) ESPN, which is not going to try to match or beat Apple's offer, a source familiar with the negotiations told the journal. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Hindustan Times
9 hours ago
- Entertainment
- Hindustan Times
Ghost turns 35: How critics got the paranormal romance classic completely wrong in 1990
Paranormal romance might not have been a new genre in 1990, but the charm of Ghost truly spoke to audiences when it was released exactly 35 years ago today. Starring Patrick Swayze, Demi Moore, and Whoopi Goldberg, the film initially received lukewarm reviews. The story follows Sam Wheat, a banker who is murdered but remains on Earth as a ghost to protect his grieving girlfriend, Molly, from the same threat that killed him. Ghost continues to be one of Hollywood's most beloved haunted love stories 35 years after its release.(Screenshot: Ghost Movie ) Critics couldn't foresee the success of Ghost Every movie buff knows how Ghost went on to gain classic status, thanks to its massive box office haul and the lasting affection it has received over the years. However, the People's Critic was not impressed when it first came out. The review mocked the film's serious treatment of ghosts, Demi Moore's crying, and even compared Swayze's ghost-training scenes to a 'Yoda moment.' Calling it 'dopily written,' the reviewer was clearly unimpressed with Jerry Zucker's direction. Also read: Demi Moore at 62 sticks to meat-free diet for toned body, but there's 1 thing she can't give up: 'I still do drink...' It read, "If making bad movies qualifies as a deadly sin, [Bruce Joel] Rubin and Zucker had better start pushing all their emotion into the pit of their stomachs right now so they have a fighting chance when those little devils in the black outfits come after them.' Ghost might not have completely won over critics, but that didn't stop it from achieving massive success at the box office. According to Business Insider, the film grossed more than $506 million, making it the highest-grossing film of 1990, surpassing even the iconic Home Alone. The film's success wasn't limited to the box office. It won three prestigious Oscars, including Best Supporting Actress for Whoopi Goldberg, who played the quirky psychic Oda Mae Brown. Also read: Demi Moore's beauty secrets for glowing skin at 62: Facial sculpting tools, regular facials to proper cleansing Ghost went on to become an iconic film Beyond numbers and awards, Ghost gave us unforgettable scenes – none more iconic than the pottery wheel moment set to Unchained Melody. This scene became a pop culture phenomenon, inspiring everything from memes and parodies to a Broadway musical adaptation. While audiences laughed and cried with the film, the shooting process wasn't always fun for the cast. Patrick Swayze once shared with PEOPLE that filming certain scenes, such as touching the dummy version of his character's body, triggered painful memories of his father's funeral. These raw emotions added depth to his performance and resonated with viewers worldwide. A report from Gold Derby later revealed that Paramount Studios originally wanted Tina Turner to play the role of Oda Mae. But both Swayze and director Jerry Zucker believed Whoopi Goldberg was perfect for the part. They even traveled to Mississippi to persuade her to join the project, and their conviction paid off. The unique blend of comedy, romance, drama, and the paranormal made Ghost a standout film that continues to define 90s cinema. It proved that love, quite literally, can transcend death. FAQs Which actors worked in the movie Ghost? Some popular actors who worked in the movie Ghost include Patrick Swayze, Demi Moore, Whoopi Goldberg, and Tony Goldwyn. Why did Sam get killed in Ghost? Sam Wheat gets killed in Ghost by a low-level criminal, Willie Lopez. Sam's business partner hires him to rob and murder him. How much did Ghost collect at the box office? According to Business Insider, Ghost, released in 1990, collected $506 million at the box office.
