Latest news with #KimbalMusk
The Guardian
12-05-2025
- Politics
- The Guardian
Trump's projects have caused widespread harm – but some are starting to fizzle
Soon after Elon Musk slapped the air with a double Nazi salute, his brother Kimbal went on X to say: 'This is what success feels like.' And three months ago, he seemed to have a point. The Trump administration, which appeared to have been co-led for a time by big brother Musk, is now in a period of retrenchment. Initiatives focused on Gaza, tariffs, spending, deporting millions of migrantand 'government efficiency' have all deflated somewhat. We are admittedly only a small fraction of the way through this second Trump term, but a pattern appears to be emerging: the president proclaims a big policy goal, Maga appointees scramble to interpret his objectives, and then the whole thing is abandoned in paroxysm. Which isn't to say that real harm isn't being caused – just less than might otherwise be. First, the Gaza riviera. Trump's response to the genocide in Palestine was to envision a grand ethnic cleansing embellished by Carrara marble and rickrack. Questions the president didn't seem to have asked in advance: where would the Palestinians go? Why would Egypt or Jordan risk regime-ending instability? Who would pay for it all? Faced with the difficulty of implementing a complex plan,which only 3% of Israeli Jews regard as immoral, Trump retreated. But not before facilitating harm. His explicit endorsement of the majority view in Israel that Palestinian residents of Gaza should relocate has only permitted the leadership in that country to accelerate their Biden-era policy. Now, Israel Katz, the Israeli defense minister, openly speaks of using starvation as a tool in Gaza, something the Israelis were shy about admitting only seven months ago. And since Benjamin Netanyahu's government broke the ceasefire with Hamas in March, Israeli troops have murdered more than 2,100 Palestinians – the majority of them children. Again, an extension of the Biden policy, but without the chintzy gilt. The tariff debacle, meanwhile, showcased the administration's inability to shoot straight. A Forbes analysis counts nine flip-flops on tariff policy. Bad policy is bad – whiplash makes it worse. One of the arguments explaining the dollar's status as the world's reserve currency – the tender most countries use for trade and global finance – is that the US is a big and stable country that pays its bills and honors its commitments. That trust in America's ability to manage an economy confers lots of benefits to Americans, such as lower borrowing and transaction expenses. Demand for the US dollar allows the US to finance deficits, seemingly indefinitely. But there are signs that the erratic tariff policy has caused other countries – who buy US debt – to question old assumptions about stability and growth. It turns out that, like addressing Palestine, trade policy is hard. But it didn't have to be like this – a measured tariff policy could have helped enhance American industry. Coupled with prohibitions on stock buybacks – a Reagan-era concession to corruption that allows CEOs to inflate their stock prices and 'performance' bonuses – a sensible tariff policy could have helped facilitate the investment of corporate profits domestically, reinvigorating the labor movement to produce better jobs. But policy requires a clear statement of goals and an understanding of how to get there – neither of which the Trump administration was able to articulate. Economic growth has almost certainly been dented by the bizarre trade war and myriad reversals – so we'll probably see more deficit spending at higher borrowing rates. And then there's Yemen, where the Houthi government has harassed Israeli-affiliated boats in response to the genocide. The catastrophic effort to bomb the Yemenis into submission, again, an extension of Joe Biden's Israel policy, was preceded with bluster. In March, Trump issued a message on his website that read, 'To all Houthi terrorists, YOUR TIME IS UP, AND YOUR ATTACKS MUST STOP, STARTING TODAY. IF THEY DON'T, HELL WILL RAIN DOWN UPON YOU LIKE NOTHING YOU HAVE EVER SEEN BEFORE!' But nearly two months into America's bombing campaign, which has killed hundreds in Yemen at vast expense, the effort to open trade routes in the Red Sea has resulted in a negotiated detente which falls far short of achieving Trump's goals. The deal commits the Yemenis to leaving American ships alone, but says nothing about Israeli-affiliated vessels. The Wall Street Journal reports that the deal took the Israelis by surprise. Meanwhile, Elon Musk's 'department of government efficiency' (Doge) dramatically overestimated its potential and overstated its accomplishments: at a meeting last month, Musk said he expected Doge cuts would save $150bn, or 85% less than the promised $1tn. Now Musk is returning to Tesla – whose weak quarterly results have caused the stock price to crash back to earth. All of it a bad joke, played on the American people. Trump's inability to follow through on his big initiatives is probably attributable to lots of things, but the quality of the man, and the people around him, stick out. Pete Hesgeth, the secretary of defense, appears unfocused and unbalanced in interviews. Kristi Noem, head of the US Department of Homeland Security, seems obsessed with pageantry and appearances, while the attorney general, Pam Bondi, exhibits sycophantic tendencies. Marco Rubio, the secretary of state, and JD Vance spent a lot of time explaining how dangerous Trump was – Vance compared Trump to Hitler – before joining his administration. All seem to have been hired for their ability to flatter and prostrate themselves, which is not the same as competence or executive experience. So now, a bigger picture is emerging. The operating moral principle directing the Trump presidency seems to be that people are generally worse than they proclaim to be. And the president has gone out of his way to hire people with limited talent and ability, whose main qualification is Maga, people who can't follow through on big pronouncements and goals. It is indeed government by the worst. Ahmed Moor is a writer and fellow at the Foundation for Middle East Peace
Yahoo
11-05-2025
- Business
- Yahoo
Elon Musk's 77-Year-Old Mom Says 'I Have To Sleep In The Garage' And On Floor Blankets When Visiting Her Son — Richest Man In The World: 'We Adapt'
Elon Musk is worth over $380 billion, yet when his 77-year-old mother, Maye Musk, comes to visit, she doesn't get a penthouse suite or even a plush guest room. Nope — she sleeps on blankets, couches, or a mattress in his garage. And she's perfectly fine with it. "You can't have a fancy house near a rocket site," Maye explained in a 2022 interview with The Times of London, referencing SpaceX's Starbase launch facility in Texas. "I have to sleep in the garage." Don't Miss: Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — She's not exaggerating. In fact, Maye's made light of the situation multiple times. In an X post the same year, she shared: "Many memories of sleeping on mattresses or blankets on the floor, on couches, or a bed in the garage. This happens to @kimbal @ToscaMusk and me. We adapt. It's still better than sleeping on the ground in the Kalahari Desert with lions or hyenas nearby, which I did as a child."That "we adapt" motto seems to be a Musk family tradition. It's not just Maye. Elon himself has slept in less-than-glamorous spots. Speaking at the 2022 Baron Investment Conference, he recalled sleeping on a factory floor in California and Nevada for three years. "It was damn uncomfortable," he admitted. Trending: Here's what Americans think you need to be considered wealthy. This all fits Musk's minimalist streak. In 2020, he vowed to sell "almost all physical possessions" and declared, "Will own no house," citing freedom as the goal. He followed through, offloading multiple California mansions. But despite publicly swearing off homeownership, Musk reportedly upgraded to a $6 million, six-bedroom mansion in West Lake Hills, Texas, in 2022 — the same year his mom said she was sleeping in the garage, according to The New York Times. A 16-foot chain-link fence around the property quickly tipped off neighbors that this wasn't just any new arrival. So, yes, while Musk officially claimed to own only a $50,000, two-bedroom tiny home near the launch site, reports suggest he may have had some real estate back in rotation. Whether that house was close enough to the rocket site for Maye's comfort is up for skeptics on X asked Musk in 2023 about persistent rumors of his father's supposed connection to an emerald mine, Elon shot back, "I'd just like to see a picture of this mine. Like, where is it exactly!?" Maye chimed in shortly after, writing, "Me too! And why did we sleep in one-bedroom apartments and on the floor?" effectively shutting down the long-running myth. Whether it's a garage floor, a couch, or the occasional $6 million mansion, the Musk family seems more focused on adaptability than luxury. Read Next:Nancy Pelosi Invested $5 Million In An AI Company Last Year — Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Elon Musk's 77-Year-Old Mom Says 'I Have To Sleep In The Garage' And On Floor Blankets When Visiting Her Son — Richest Man In The World: 'We Adapt' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Mint
27-04-2025
- Business
- Mint
Who is Kimbal Musk? Elon's brother in spotlight after swipe at Trump over tariffs
While the world's richest man, Elon Musk, has refrained from openly criticising United States President Donald Trump's tariffs policy, his brother has had no such problem. Kimbal Musk grabbed headlines for his strongly worded X posts against Donald Trump's tariffs and their impact on prices and costs for American businesses and customers. According to the Tesla investor relations page, Kimbal is 'an entrepreneur, activist, and chef' who has 'co-founded and invested in companies' for more than two decades. Forbes in a profile, said Kimbal Musk is worth an estimated $900 million — largely via stakes in his brother's multi-billion dollar businesses Tesla and SpaceX. So, we take a look at who is Kimbal Musk, how rich is he, and how he gained his nearly billion-dollar his fortune. Kimbal Musk is the younger brother of Elon Musk. He was born in Pretoria (South Africa) on September 20, 1972. Like the rest of his family, he currently holds US citizenship. In 1995 he acquired a degree in business from Queen's University, Canada, where he moved to live with his mother along with sister Tosca Musk in 1989. He is now married to Christiana Wyly, daughter of businessman Sam Wyly, and lives in Boulder, Colarado (USA). Active on social media via Instagram and X, Kimbal Musk is known for his signature cowbot hat, which he has worn since 2014. The Tesla investor relations profile page describes Kimbal Musk as an 'entrepreneur, activist, and chef', who has 'co-founded and invested in companies across technology, hospitality, entertainment, and agricultural industries'. Kimbal Musk's personal mission, according to the website, is 'to empower innovators and scale sustainable technologies that help contribute to a happier, healthier future'. As per the website, Kimbal Musk co-founded online maps company Zip2 Corporation with brother Elon Musk, which was sold to Compaq for $307 million; which later merged with Yahoo Maps in 1999. According to a report by People Magazine, the brothers recieved funding from their parents and sister Tosca. He is a founding director of SpaceX, in which he invested in 2002 (he was on the board till January 2002). The same year he acquired chipmaker Intel's light drone division and called it Nova Sky Stories (he is CEO and co-founder). He also invested in EV automaker Tesla, of which he owns shares and is part of the Board of Directors since 2004. After selling Zip2, Kimbal Musk studied at the French Culinary Institute in New York. Following his culinary ambitions, in 2004, he co-founded restaurant company The Kitchen (he is also CEO), with chef Hugo Matheson and then-wife Jen Lewin in Boulder (Colorado, USA), which purchases food directly from local farmers. In 2006, he become the CEO of search engine called OneRiot, which was acquired by Walmart in 2011. Between 2013-19, Kimbal Musk was a Director at American restaurant chain Chipotle Mexican Grill, Inc. In 2016, he co-founded Square Roots, an urban indoor farm company growing fresh, local greens in climate-controlled, AI equipped shipping containers. It shut down major operations in 2023, the People report added. Forbes, in its latest article on the Musk siblings Elon and Kimbal, said the younger brother was among those who made 'lucrative' gains from their association with the Tesla and SpaceX chief. His stake in SpaceX is worth an estimated $200 million. Kimbal Musk is worth around $900 million, largely thanks to stakes in SpaceX and Tesla. During the markets high post Donald Trump's US elections win, his Tesla stake was worth around $1.3 billion (in December 2024), according to Forbes. His stake now is worth $380 million. Forbes dubbed Kimbal Musk's role in his brother's empire as 'Musktocracy' — those whose wealth is tied to Elon Musk's rising fortunes. Other names include board members Larry Ellison and Marc Andressen, it added. Compared to his brother, Kimbal Musk's own ventures have been far less successful. He did not respond to Forbes' queries for the story, but 20 people who worked directly with Kimbal Musk did, the report said. How did they describe him? A 'laid-back personality who prefers cooking to high-stakes dealmaking and building tech companies, but who has continually been drawn into Elon's orbit'. Key Takeaways Kimbal Musk has a net worth of approximately $900 million, primarily derived from his investments in Tesla and SpaceX, reflecting the financial benefits of being associated with his brother Elon Musk's successful ventures. His professional identity encompasses being an entrepreneur, activist, and chef, with a focus on empowering innovators and promoting sustainable technologies across various industries. Despite his significant wealth, Kimbal Musk's personal business ventures have not achieved the same level of success as Elon Musk's, indicating a preference for a more laid-back lifestyle centered around cooking rather than high-pressure business dealings.
South China Morning Post
08-04-2025
- Business
- South China Morning Post
Elon Musk's brother jabs at Trump's tariffs: ‘we're not as good at making all things'
Kimbal Musk joined his brother, Elon, in criticising tariffs, calling US President Donald Trump's recent moves a 'structural, permanent tax on the American consumer'. Advertisement 'Even if he is successful in bringing jobs on shore through the tariff tax, prices will remain high and the tax on consumption will remain the form of higher prices because we are simply not as good at making all things,' Kimbal Musk, a Tesla Inc. board member, said in a post on X. He added the policy could lead to a cycle of less consumption and less jobs. Elon Musk's comments on tariffs featured prominently in a 'Saturday Night Live' skit and in comments by Senator Ted Cruz, who said there are 'angels and demons' vying for influence as the White House plans to impose the steepest US trade duties in more than a century. 'Elon is one of the angels,' Cruz said on his podcast released on Monday. 'This is a good, good voice that is focused on US jobs that I hope the president is listening to.' Tesla's stock skyrocketed following Trump's election, but has fallen more than 50 per cent since closing at a record high in mid-December. Advertisement Just a month ago, Kimbal Musk had thanked Trump for supporting Tesla after the electric vehicles were featured at a press conference on the White House lawn. Outside his work with Tesla, Musk also owns a restaurant chain.
Bloomberg
07-04-2025
- Business
- Bloomberg
Elon Musk's Younger Brother Criticizes Trump's Tariff Strategy
Kimbal Musk joined his brother, Elon, in criticizing tariffs, calling President Donald Trump's recent moves a 'structural, permanent tax on the American consumer.' 'Even if he is successful in bringing jobs on shore through the tariff tax, prices will remain high and the tax on consumption will remain the form of higher prices because we are simply not as good at making all things,' Kimbal Musk, a Tesla Inc. board member, said in a post on X. He added the policy could lead to a cycle of less consumption and less jobs.
