Latest news with #US450
West Australian
8 hours ago
- Automotive
- West Australian
Investors dump Tesla as Trump-Musk clash escalates
Investors bought hundreds of billions of dollars of Tesla stock after Donald Trump was elected on a bet that politics were more important than profits. In three hours on Thursday, they learned yet again how dangerous that gamble could be. Shares of Elon Musk's electric vehicle maker plunged more than 14 per cent in a stunning wipeout as investors dumped holdings amid a bitter war of words between the president and the world's richest man. By the end of the trading day, $US150 billion ($A230 billion) of Tesla's value had been erased, more than what it would take to buy all the shares of Starbucks and hundreds of other big publicly traded US companies. The disagreement started over the president's budget bill, then quickly turned nasty. After Musk said that Trump wouldn't haven't gotten elected without his help, Trump implied that he may turn the federal government against his companies, including Tesla and SpaceX. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts," Trump wrote on his social messaging service Truth Social. "I was always surprised that Biden didn't do it!" Trump's threat to cut government contracts seems targeted more to another of Musk's businesses, SpaceX, than his car company. The privately held rocket company has received billions of dollars for sending astronauts and cargo to the International Space Station, providing launches and doing other work for NASA. The company is currently racing to develop a mega rocket for the space agency to send astronauts to moon in 2026. After the presidential election in November, investors rushed into the stock, adding more than $US450 billion ($A691 billion) to its value in a few weeks. The belief was that the company would see big riches as Trump eased regulatory oversight of Tesla. They also were betting that the new administration would embrace Musk's plans for millions of cars on US roads without drivers behind the wheel. After hitting an all-time high on December 17, the shares retreated as Musk's time as head of a government cost-cutting group led to boycotts and a hit to Tesla's reputation. They've recently popped higher again after Musk vowed to focus more on Tesla and its upcoming driverless taxi launch. Now investors aren't so sure, a worry that has translated into big paper losses in Tesla stock held by Musk personally — down $US20 billion ($A31 billion) for the day.
Perth Now
9 hours ago
- Automotive
- Perth Now
Investors dump Tesla as Trump-Musk clash escalates
Investors bought hundreds of billions of dollars of Tesla stock after Donald Trump was elected on a bet that politics were more important than profits. In three hours on Thursday, they learned yet again how dangerous that gamble could be. Shares of Elon Musk's electric vehicle maker plunged more than 14 per cent in a stunning wipeout as investors dumped holdings amid a bitter war of words between the president and the world's richest man. By the end of the trading day, $US150 billion ($A230 billion) of Tesla's value had been erased, more than what it would take to buy all the shares of Starbucks and hundreds of other big publicly traded US companies. The disagreement started over the president's budget bill, then quickly turned nasty. After Musk said that Trump wouldn't haven't gotten elected without his help, Trump implied that he may turn the federal government against his companies, including Tesla and SpaceX. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts," Trump wrote on his social messaging service Truth Social. "I was always surprised that Biden didn't do it!" Trump's threat to cut government contracts seems targeted more to another of Musk's businesses, SpaceX, than his car company. The privately held rocket company has received billions of dollars for sending astronauts and cargo to the International Space Station, providing launches and doing other work for NASA. The company is currently racing to develop a mega rocket for the space agency to send astronauts to moon in 2026. After the presidential election in November, investors rushed into the stock, adding more than $US450 billion ($A691 billion) to its value in a few weeks. The belief was that the company would see big riches as Trump eased regulatory oversight of Tesla. They also were betting that the new administration would embrace Musk's plans for millions of cars on US roads without drivers behind the wheel. After hitting an all-time high on December 17, the shares retreated as Musk's time as head of a government cost-cutting group led to boycotts and a hit to Tesla's reputation. They've recently popped higher again after Musk vowed to focus more on Tesla and its upcoming driverless taxi launch. Now investors aren't so sure, a worry that has translated into big paper losses in Tesla stock held by Musk personally — down $US20 billion ($A31 billion) for the day.
The Age
21-05-2025
- Sport
- The Age
Olympic Games 2028: Could $700m quarterback Patrick Mahomes be an Olympian? The NFL thinks so
Patrick Mahomes could be an Olympian in 2028 after the NFL gave its players permission to try out for the US flag football team for the Los Angeles Games. It means the $US450 million ($700 million) quarterback could add Olympic gold to his trophy cabinet, alongside his three Super Bowl rings, if the NFL's most marketable man decides to try his hand at the five-a-side game. Justin Jefferson, Tyreek Hill and Patrick Mahomes could all try out for the 2028 US Olympic flag football team. Credit: Graphic: Michael Howard, Monique Westermann Flag football will make its Olympic debut in 2028, and will consist of six men's teams and six women's team, with 10 players per squad, and five on the field at a time. The NFL has been mulling over whether to let players try out for the past couple of years, but the motion was finally passed 32-0 at a meeting on Wednesday morning (Australia time), opening the door for the likes of $US140 million wide receiver Justin Jefferson or $US90 million Tyreek Hill to participate at a home Olympics.
The Age
21-05-2025
- Sport
- The Age
$700m quarterback could be an Olympian after NFL gives stars green light
Patrick Mahomes could be an Olympian in 2028 after the NFL gave its players permission to try out for the US flag football team for the Los Angeles Games. It means the $US450 million ($700 million) quarterback could add Olympic gold to his trophy cabinet, alongside his three Super Bowl rings, if the NFL's most marketable man decides to try his hand at the five-a-side game. Flag football will make its Olympic debut in 2028, and will consist of six men's teams and six women's team, with 10 players per squad, and five on the field at a time. The NFL has been mulling over whether to let players try out for the past couple of years, but the motion was finally passed 32-0 at a meeting on Wednesday morning (Australia time), opening the door for the likes of $US140 million wide receiver Justin Jefferson or $US90 million Tyreek Hill to participate at a home Olympics. However, only one player from each NFL team will be allowed to try out for the US team, which means some players may choose to represent a country of their heritage if it improves their chances of an Olympic debut. Jefferson was present for the NFL's announcement on Wednesday, and said he always thought an Olympic appearance was unattainable. 'To be honest, I'm just at a loss [for] words,' he said. 'Seeing the amount of kids that are really involved in this sport, seeing the women and men being involved, and seeing it now being on a global stage is something that is so special. 'Even though it's three years down the line, and they're still planning who is going to be on the team and all, but just to think about the chances of playing in an Olympics and getting a gold medal is a dream.
Sydney Morning Herald
21-05-2025
- Sport
- Sydney Morning Herald
$700m quarterback could be an Olympian after NFL gives stars green light
Patrick Mahomes could be an Olympian in 2028 after the NFL gave its players permission to try out for the US flag football team for the Los Angeles Games. It means the $US450 million ($700 million) quarterback could add Olympic gold to his trophy cabinet, alongside his three Super Bowl rings, if the NFL's most marketable man decides to try his hand at the five-a-side game. Flag football will make its Olympic debut in 2028, and will consist of six men's teams and six women's team, with 10 players per squad, and five on the field at a time. The NFL has been mulling over whether to let players try out for the past couple of years, but the motion was finally passed 32-0 at a meeting on Wednesday morning (Australia time), opening the door for the likes of $US140 million wide receiver Justin Jefferson or $US90 million Tyreek Hill to participate at a home Olympics. However, only one player from each NFL team will be allowed to try out for the US team, which means some players may choose to represent a country of their heritage if it improves their chances of an Olympic debut. Jefferson was present for the NFL's announcement on Wednesday, and said he always thought an Olympic appearance was unattainable. 'To be honest, I'm just at a loss [for] words,' he said. 'Seeing the amount of kids that are really involved in this sport, seeing the women and men being involved, and seeing it now being on a global stage is something that is so special. 'Even though it's three years down the line, and they're still planning who is going to be on the team and all, but just to think about the chances of playing in an Olympics and getting a gold medal is a dream.
