Latest news with #filing
Yahoo
6 days ago
- Business
- Yahoo
Tesla Is Awarding Elon Musk 96 Million Shares of Stock: Here's How Much It's Worth
Elon Musk's status as the world's richest person is heavily tied to his stake in Tesla (TSLA), the electric vehicle company where he serves as CEO. Musk's wealth will be tied even more strongly to Tesla after the company recently awarded him an interim pay package of 96 million shares. Details of the package were included in a U.S. Securities and Exchange Commission filing dated Aug. 3, 2025. Read Next: Find Out: As CNBC reported, Musk's new shares will vest in two years as long as he continues as CEO or in another 'key executive position.' However, Musk is currently in a legal battle regarding his 2018 compensation. If that ends with him being able to exercise shares from that package, he will not receive the new shares. But if he does, how much are those shares actually worth? And what does it mean for Musk's wealth? How Much Is the Award Worth? At the time the award was made public, the 96 million shares were worth about $29 billion. But that figure has since changed. Based on Tesla's closing price of $339.03 on Aug. 11, 2025, the shares are currently worth about $32.5 billion. To put that dollar amount into context, consider this: If you suddenly found yourself with $32.5 billion, you'd be the 60th-richest person in the world, according to the latest Forbes billionaire list. Musk himself remains the richest person in the world, with a net worth of $418.5 billion. But his lead is shrinking — mainly because Tesla's stock price has fallen by roughly one-quarter since closing at $426.50 on Jan. 17, 2025. On that date, the 96 million shares would have been worth $40.9 billion. But weep not for Musk. A year ago, Tesla traded for around $201 a share, so its value has risen by nearly 69% since then. Explore More: Taking Stock of Musk's Wealth Musk's wealth is almost all connected to his holdings in Tesla, rocket producer SpaceX and artificial intelligence startup xAI. He owns about 12% of Tesla excluding options, according to Forbes. Tesla's market cap is roughly $1 trillion, so a 12% stake would equal about $120 billion. As Forbes noted, Musk's legal situation with Tesla started in early 2024, when a Delaware judge voided Musk's 2018 deal to receive options that equaled another 9% of the company. Pending Musk's appeal, Forbes has discounted the options by 50%. Tesla Takes a Few Hits Tesla's stock woes this year have their roots in both politics and business fundamentals. The politics part involved Musk's role as head of the Department of Government Efficiency (DOGE), a nonofficial organization created by President Donald Trump to downsize the federal government. DOGE became a center of controversy because of how quickly it laid off government workers and gutted federal agencies, which hurt Musk's public image and the Tesla brand. He has since left the organization to devote more time to Tesla, which has suffered from plunging sales in key global markets. Meanwhile, Musk and Tesla find themselves battling another headache on the legal front. As Reuters reported, both were named in a lawsuit brought by shareholders. They are accused of securities fraud for hiding safety risks tied to self-driving vehicles — including the robotaxi. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates New Law Could Make Electricity Bills Skyrocket in These 4 States I'm a Self-Made Millionaire: 6 Ways I Use ChatGPT To Make a Lot of Money 5 Strategies High-Net-Worth Families Use To Build Generational Wealth How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on Tesla Is Awarding Elon Musk 96 Million Shares of Stock: Here's How Much It's Worth 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
18-07-2025
- Business
- Yahoo
Elon Musk's $9B Neuralink told federal government it's a ‘small, disadvantaged business'
Elon Musk's $9 billion brain chip company identified itself as a 'Small Disadvantaged Business' in a filing to the federal government. Musk, the world's richest man, co-founded Neuralink in 2016. The company works to develop brain chips that allow people to manipulate computers and other technology just by thinking. The company's profile with the Small Business Administration was last updated on April 27. The agency's website says the business attested that it was a Small Disadvantaged Business, according to a first report by the Substack Muskwatch. The company attested to this 'when registering with The SBA says it did not vet this self-certification. Neuralink's ownership structure is unclear and the company did not provide a list of principals, which includes owners, executives and other key decision makers, to the SBA. The company employs between 201 and 500 people, according to its LinkedIn page. To qualify as a Small Disadvantaged Business, the agency says a company must be majority owned and controlled by at least one person who is socially and economically disadvantaged. Elon Musk's brain chip company has told the federal government it is a 'Small Disadvantaged Business' (AFP via Getty Images) The agency considers someone economically disadvantaged if they have 'been impaired due to diminished capital and credit opportunities as compared to others in the same or similar line of business who are not socially disadvantaged.' The designation is created to ensure that disadvantaged small businesses gain access to opportunities federal contracting opportunities, CNBC reports. Each year, the federal government spends about 10 percent of its total annual federal contracting funds on Small Disadvantaged Businesses, the SBA says. The Justice Department has previously fined businesses for misrepresenting their status as a Small Disadvantaged Business. Neuralink co-founder Musk has a net worth of more than $412 billion. The company raised $650 million in its most recent funding round, earning buy-in from big-name investors like Peter Thiel's Founders Fund, CNBC reports. Thiel, a conservative venture capitalist, is known for co-founding PayPal with Musk and mentoring Vice President JD Vance. The Independent has contacted Neuralink for comment. Neuralink's SBA profile was last updated during the time that Musk led the Department of Government Efficiency, under the designation of a 'special government employee' of the Trump administration. Under Musk, DOGE gutted entire federal agencies, terminated thousands of contracts and laid off thousands of federal employees. Musk worked closely with Trump during this time, and was at one point considered the 'First Buddy' before the relationship blew up in a public feud last month. Since then, Musk has accused Trump of being named in the Epstein Files - but later deleted those remarks - while the president has said he'd 'take a look' at deporting the billionaire. Elon Musk and Donald Trump had a close relationship before a public falling-out last month (REUTERS) Last year, 30-year-old Noland Arbaugh became the first person to receive a Neuralink implant. Arbaugh, who has been paralyzed from the shoulders down since 2016, told the BBC the chip has allowed him to use a computer. He's able to move the cursor by thinking about wiggling his fingers, and can even play chess and video games using the brain chip. "Honestly I didn't know what to expect, it sounds so sci-fi," Arbaugh said. Arbaugh spoke to Musk before and after the implantation surgery. The billionaire was 'just as excited as I was to get started,' Abraugh said. In January, Musk said at least three people had received Neuralink chips. The billionaire wants to implant the chips in 20 to 30 more people by the end of 2025. 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
07-06-2025
- Business
- Yahoo
Zeo Energy Corp. Receives Nasdaq Notice on Late Filing of its Form 10-Q
NEW PORT RICHEY, Fla., May 29, 2025 (GLOBE NEWSWIRE) -- Zeo Energy Corp. (Nasdaq: ZEO) 'Zeo Energy' or the 'Company'), announced today that, as expected, it received a notice (the 'Notice') from Nasdaq on May 22, 2025, notifying the Company that it is not in compliance with the periodic filing requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) because the Company's Quarterly Report on Form 10-Q for the for the three months ended March 31, 2025 (the '10-Q') was not filed with the Securities and Exchange Commission (the 'SEC') by the required due date of May 15, 2025. As previously reported in the Current Report on Form 8-K filed with the Securities and Exchange Commission (the 'Commission') on April 18, 2025, the Company received a deficiency notice from Nasdaq that the Company was not in compliance with Nasdaq's Listing Rules as set forth in Listing Rule 5250(c)(1) given the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the '10-K'). The Company subsequently filed the 10-K on May 28, 2025. This Notice received from Nasdaq has no immediate effect on the listing or trading of the Company's shares. Nasdaq has provided the Company until Monday, June 16, 2025, to submit a plan to regain compliance. If Nasdaq accepts the Company's plan, then Nasdaq may grant the Company an exception until October 13, 2025 to regain compliance with the Nasdaq Listing Rules. The Company continues to work diligently to complete the 10-Q, after which the Company anticipates maintaining compliance with its SEC reporting obligations. This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. About Zeo Energy Corp. Zeo Energy Corp. is a Florida-based regional provider of residential solar, distributed energy, and energy efficiency solutions. Zeo Energy focuses on high-growth markets with limited competitive saturation. With its differentiated sales approach and vertically integrated offerings, Zeo Energy, through its Sunergy business, serves customers who desire to reduce high energy bills and contribute to a more sustainable future. For more information on Zeo Energy Corp., please visit Cautionary Note Regarding Forward-Looking Statements This news release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to the Company. Such statements may include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words 'anticipate,' 'intend,' 'plan,' 'goal,' 'seek,' 'believe,' 'project,' 'estimate,' 'expect,' 'strategy,' 'future,' 'likely,' 'may,' 'should,' 'will,' and similar references to future periods may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the filing of the 10-Q, maintaining compliance with SEC reporting obligations and regaining compliance with Nasdaq listing rules. These forward-looking statements are based on information available as of the date of this news release, and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the Company's views as of any subsequent date, and the Company does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, the Company's actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: (i) the outcome of any legal proceedings that may be instituted against the Company or others; (ii) the Company's success in retaining or recruiting, or changes required in, its officers, key employees, or directors; (iii) the Company's ability to maintain the listing of its common stock and warrants on Nasdaq; (iv) limited liquidity and trading of the Company's securities; (v) geopolitical risk and changes in applicable laws or regulations; (vi) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (vii) operational risk; (viii) litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on the Company's resources; and (ix) other risks and uncertainties, including those included under the heading 'Risk Factors' in the Company's Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2024 and in its subsequent periodic reports and other filings with the SEC. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company, its respective directors, officers or employees or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this news release represent the views of the Company as of the date of this news release. Subsequent events and developments may cause that view to change. However, while the Company may elect to update these forward-looking statements at some point in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of the Company as of any date subsequent to the date of this news release. Zeo Energy Corp. Contacts For Investors:Tom Colton and Greg BradburyGateway GroupZEO@ For Media:Zach KadletzGateway GroupZEO@
Associated Press
23-05-2025
- Business
- Associated Press
Eason Technology Limited Receives Notification from NYSE Regarding Delayed Form 20-F Filing
HONG KONG, May 23, 2025 /PRNewswire/ -- Eason Technology Limited ('Eason Technology' or the 'Company') (NYSE: DXF ) today announced that it received a notice from NYSE Regulation indicating that the Company is not in compliance with the continued listing standards of NYSE American LLC ('NYSE American' or the 'Exchange'). The Company failed to timely file its Form 20-F for the period ended December 31, 2024 (the '2024 Form 20-F') by the filing due date of May 15, 2025 (the 'Filing Delinquency'). The Company is now subject to the procedures and requirements set forth in Section 1007 of the NYSE American Company Guide. NYSE Regulation notified the Company that NYSE American will closely monitor the status of the Company's 2024 Form 20-F and any subsequent delayed filings for a six-month period from the date of the Filing Delinquency until November 15, 2025 (the 'Initial Cure Period'). If the Company fails to cure the Filing Delinquency within the Initial Cure Period, the Exchange may, in its sole discretion, allow the Company's securities to be traded for up to an additional six-month period May 15, 2026 (the 'Additional Cure Period') depending on the Company's specific circumstances. If the Exchange determines that an Additional Cure Period is not appropriate, suspension and delisting procedures will commence in accordance with the procedures set out in Section 1010 hereof. If the Exchange determines that an Additional Cure Period of up to six months is appropriate and the Company fails to file the 2024 Form 20-F and any subsequent delayed filings by the end of that period, suspension and delisting procedures will generally commence. As disclosed in the Form 12b-25 filed by the Company on April 30, 2025, the Company was unable, without unreasonable effort or expense, to file its 2024 Form 20-F as a result of a delay in completing its financial statements for the period ended December 31, 2024. The Company was not able to make the required filing by May 15, 2025. The Company is making all efforts to file the 2024 Form 20-F as soon as possible and within the Initial Cure Period. However, there can be no assurance that the Company will ultimately regain compliance with all applicable Exchange listing standards. This delinquency notice has no immediate impact on the listing of the Company's ADSs, which will continue to be listed and traded on the NYSE American during the cure period subject to continued compliance with the other listing requirements of the NYSE American. About Eason Technology Limited Eason Technology Limited is a company engaged in real estate operation management and investment and digital technology security business in Hong Kong, China. Safe Harbor Statement Certain statements made in this release are 'forward looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words 'estimates,' 'projected,' 'expects,' 'anticipates,' 'forecasts,' 'plans,' 'intends,' 'believes,' 'seeks,' 'may,' 'will,' 'should,' 'future,' 'propose' and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission, which are available for review at The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release. View original content: SOURCE Eason Technology Limited
