Latest news with #ElonMusk
Forbes
27 minutes ago
- Automotive
- Forbes
Elon Musk Net Worth Dives $12 Billion As Tesla Investors Grow ‘Tired' Of Antics
Tesla stock and the net worth of the automaker's CEO Elon Musk sank Monday after Musk launched a new political party, as Wall Street increasingly expresses fatigue at the controversy-stirring political activities of Musk. The second Trump presidency hasn't been the boon for former 'first buddy' Elon Musk's Tesla stock ... More investors had hoped, as shares are down more than 30% since Inauguration Day. AFP via Getty Images In a far less painful day for the broader market, Tesla stock fell 7%, or about $21 per share, in response to Musk's unveiling of his 'America Party' and the subsequent sparring between Musk and President Donald Trump, who Musk donated $288 million to help elect last year. 'Investors are growing tired of the distraction' from Musk, William Blair analyst Jed Dorsheimer wrote in a Monday note to clients downgrading his rating for Tesla stock from a buy to a hold on the less favorably federal regulatory credit environment for electric vehicles in Trump's megabill signed last week. Musk's net worth tumbled $12 billion Monday to $393 billion, which is still the largest fortune in the world by a more than $100 billion margin, according to Forbes' latest estimates. Despite the initial enthusiasm for the self-proclaimed 'first buddy' Musk and what his cozy White House role would mean for Tesla stock, it's been a dark stretch for Tesla investors, with shares down 31% since Inauguration Day, far worse than the S&P 500 benchmark's 4% advance. 'Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/ shareholders want him to take,' Wedbush analyst Dan Ives, long one of the most bullish analysts covering Tesla, wrote Sunday. Big Number 55%. That's the proportion of Americans who hold an unfavorable view of Musk compared to 37% of those with favorable opinions and 8% with no take, according to Silver Bulletin's weighted average of dozens of polls on Musk. Just 45% of Americans had an unfavorable view of Musk at the end of last year as his favorability fell among Democrats, Republicans and independents declined during 2025's first half. The across-the-board souring on Musk translated into dim sales for Tesla vehicles, as the company logged its worst-ever annual vehicle delivery declines in each of 2025's first two quarters. Citing a 'troubling trend' in sales data, J.P. Morgan analysts predicted Monday this will be Tesla's worst year for deliveries since 2022. The Musk-Trump alliance started to unravel in June over fiscal hawk Musk's disagreement with Trump's spending package, which the Congressional Budget Office projects will widen the national debt by $3.4 trillion. After the pair appeared to make nice, the feud escalated again last week, culminating in Trump calling Musk a 'TRAIN WRECK' and Musk apparently accusing the Trump administration of lying about the contents of the Epstein Files, referring to the documents surrounding the late convicted sex offender Jeffrey Epstein which Musk claimed implicated Trump in a since-deleted post. Surprising Fact Musk lost nearly as much in his personal net worth Monday than the $15 billion total market value of Rivian, Tesla's top American EV competitor. Further Reading Forbes Elon Musk (And Tesla) Became Much More Unpopular —As Unfavorability Soars To 55% By Derek Saul Forbes The Musk-Trump Feud Returns: X Owner Posts About 'Epstein List' Again After President Calls America Party 'Ridiculous' By Siladitya Ray Forbes Tesla Vehicle Deliveries Shrank 13% Last Quarter — A Historic Decline As Elon Musk's Troubles Mount By Derek Saul
Yahoo
31 minutes ago
- Business
- Yahoo
Tesla Plunges, Trump Threatens Tariffs -- Is the Market's Hot Streak About to Snap?
U.S. markets opened in the red Monday, snapping recent momentum as trade tension crept back into focus. The S&P 500 (SPY) dropped 0.4% at the open, with every sector flashing red. The Nasdaq 100 (NASDAQ:QQQ) slipped 0.6%, and the Dow (DIA) eased 0.2%still hovering just shy of an all-time high. Tesla (NASDAQ:TSLA) was the biggest drag, falling 6.56% at 10.27am today, after Elon Musk unveiled plans to launch a new political party. Investors appear uneasy with yet another distraction for the CEO, especially as Tesla continues to navigate a competitive EV landscape. Netflix also came under pressure after Seaport Global cut the stock to neutral, citing valuation risks after a strong run. Warning! GuruFocus has detected 4 Warning Sign with KHC. The bigger overhang? Tariffs. In a social media post, Donald Trump said he plans to slap a 10% tariff on any country siding with Anti-American BRICS policies. That threat reignited trade war chatter, though U.S. officials suggested there's still room for negotiation. The July 9 deadline has now shifted to August 1buying a few weeks for deals to get hashed out. Talks with the EU appear to be moving forward, and Treasury Secretary Scott Bessent confirmed he's aiming to meet with his Chinese counterpart in the next couple of weeks. Still, investors are watching closely. We could see choppy trading from overbought levels and ongoing tariff uncertainty, said Tigress Financial's Ivan Feinseth. The next key event lands midweek: the release of the Fed's June meeting minutes. With few economic reports on the calendar, investors are hoping the minutes will offer some clarity on rate policy going into the second half. Comerica Bank's Bill Adams expects the Fed will likely hold rates steady in Julyjust as they signaled last month. Meanwhile, Bloomberg's market sentiment gauge is flirting with manic territory. Historically, that's been a warning signsuggesting we could be near an inflection point where defensive plays regain leadership and hot sectors cool off. This article first appeared on GuruFocus. Sign in to access your portfolio
The Independent
35 minutes ago
- Business
- The Independent
Elon Musk may not be the president, but he still has cards to play against Trump
"Knowing Elon the way I know him, I do think he's going to do everything to damage the president." So declared Elon Musk's former friend and business associate Philip Low, who has known the Tesla and SpaceX tycoon for 14 years, in a recent interview with Politico. Those remarks seemed to be borne out Monday night when Musk renewed his on-again, off-again feud with Donald Trump by attacking Trump's "Big Beautiful Bill" and threatening to form a new political party. Trump responded in kind, suggesting he would "take a look" at revoking Musk's citizenship and that he "might have to put DOGE on Elon". As The Independent reported last month, there are a great many ways that Trump could try to hurt Musk, from targeting his companies with federal investigations to deportation or even criminal investigations. But Musk is not without cards to play. Through his vast wealth, his business empire, and his ability to martial a zealous online fanbase, he has plenty of ways to make life difficult for his erstwhile "buddy". So if the world's richest person really wants this fight, what punches could he throw? A money hose for Trump's opponents The first and most obvious weapon in Musk's arsenal is his vast wealth: an estimated $405 billion, according to Forbes. In the 2024 election, Musk plowed $295 million into supporting Republican candidates, chiefly Trump himself. That's a huge amount in American politics, but it's chump change for today's mega-rich. For context, across the whole of 2023 and 2024, the total amount of money raised by all presidential candidates was only $2 billion, according to the Federal Election Commission. Congressional candidates raised $3.8 billion, while PACs raised a more respectable $15.7 billion. Matching those amounts wouldn't be trivial for Elon Musk, because like most of the world's richest people his wealth is tied up in stocks that can't easily be unloaded all at once. Still, based on Wednesday's share prices, he could pay for the entire 2024 election cycle by liquidating just one fifth of his reported $130 billion stake in Tesla. We have a sense already of how Musk might use this money. "Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame! And they will lose their primary next year if it is the last thing I do on this Earth," he said on Monday. He's suggested he'd donate to Republican representative Thomas Massie, a persistent critic of Trump's. And there's still another $100 million Musk previously promised Trump that he could decide to withhold. He could even give money to Democrats, who will likely take it (although Trump has threatened 'serious consequences' in that scenario). They are politicians, after all. Musk's billions could also fund the creation of a new political party. Although the USA's first-past-the-post electoral system means third parties find it almost impossible to get a seat in Congress, they can still leech votes from the mainstream. That said, Musk's notion that 80 percent of the USA agrees with his opinions seems disconnected from reality. The polling expert Nate Silver puts his net favorability rating at a weighted average of -18 percent, which is considerably worse than Trump himself. Of course, money isn't everything — as Musk himself found out when his attempt to sway the Wisconsin Supreme Court election in March and April crashed and burned. Luckily for him, it's not his only asset. Musk's cult of personality rivals Trump's own Musk's overall popularity may have dropped dramatically since the election. But his pull with Republican voters specifically was still very high as of early June. That's testament to his ability to build and maintain a fanatical fanbase. Like Trump, he has a knack for inspiring loyalty and whipping up his supporters against new targets, as well as a keen instinct for controversy. And also like Trump, he doesn't need to be popular with all Americans to cause trouble for his enemies. He only needs enough dedicated partisans on his side. 'Elon has wooed enough of Trump's supporters to be an actual threat politically,' Musk's old friend Philip Low told Politico. "[Trump] doesn't realize the battle that he has on his hands." Musk's ownership of X, formerly Twitter, will help him there. Having already turned the social network into a hub of the MAGA media universe — and reportedly tweaked its algorithms in favor of his own posts — he now has enormous control over the conservative information stream. Given how many Americans now essentially live in a parallel media universe, maintained by fake news entrepreneurs and skewed social media algorithms, that gives him influence over what Trump's base even believes to be reality. Granted, Trump remains the unquestioned ruler of the GOP. And when polls pit Musk against Trump directly, Republican voters largely side with the king. Yet Musk's combination of financial and social capital makes him a powerful ally to anyone within the party hoping to chart their own course. From fiscal hawks opposed to Trump's spending spree to centrists with one eye on their purple state majority, there are plenty of people in Congress who won't always back Trump 100 percent. Musk can boost and sustain them, helping them resist the eye of Sauron effect that Trump has traditionally used to beat his coalition into line. Musk's influence crosses countries and industries Other threats are more esoteric. NASA would be pretty stuck without SpaceX, which currently offers the only reliable way of ferrying astronauts to and from the International Space Station. Musk's satellite business Starlink is relied on by governments and militaries across the world, including some U.S. agencies. Having helped kickstart China's world-leading electric vehicle industry, he also has a serious fanbase in China — and good relationships with the Chinese Communist Party. "Brother Musk, you've got over a billion people on our side backing you," said one user on the Chinese social network Weibo on Wednesday. Most juicily of all, he has information. Musk spent months at the heart of the Trump administration, attending cabinet meetings and undertaking highly controversial projects. What might he have learned or witnessed during that time that could damage Trump politically? We got a taste of that when Musk accused Trump of being "in the Epstein files". That's nothing new: we've known since 2015 that Trump was in Jeffrey Epstein's address book (which is not evidence of wrongdoing), and his ties to the child-abusing financier are long documented. Yet as Trump knows all too well, in today's politics truth has only a passing relevance to how much chaos a lurid allegation can cause. None of these factors are a slam dunk for Musk. His born-again MAGA conversion has trashed his former reputation as an apolitical business genius, and toxified his image among Democratic voters. Getting more involved in politics would only prolong investors' disquiet about his ability to focus on running Tesla and SpaceX. Trying to dish dirt on Trump could also tempt revenge in kind, which could be dangerous given the sheer range of allegations about Musk's personal life. Most of all, to misquote a line from the early 19th century writer Hilaire Belloc that Musk seems to be fond of: whatever happens, Trump has got the nukes, and Musk does not. Then again, when has the near certainty of adverse consequences ever stopped Elon Musk?
Fox News
37 minutes ago
- Business
- Fox News
Trump Calls Musk ‘Off the Rails' As Elon Goes Off About Jeffrey Epstein Client List
Howie Kurtz on Trump saying Elon Musk is losing it after citing Jeffrey Epstein client list again, Trump saying he is disappointed in Putin after call with him and RFK Jr. going after the food industry to stop using synthetic dyes. Follow Howie on Twitter: @HowardKurtz For more #MediaBuzz click here
Yahoo
an hour ago
- Entertainment
- Yahoo
NASA is bringing live coverage to Netflix: How to watch Florida, California rocket launches
Floridians who can't catch a rocket launch from Cape Canaveral in person will soon have another way to watch NASA's coverage of spacecraft getting off the ground. NASA and Netflix have announced that all of the U.S. space agency's live coverage is set to soon debut on one of the world's most popular streaming platforms. The programming, which will be available sometime this summer, will be just the latest of many options viewers have to watch NASA+ content. "The goal is simple: to bring the excitement of the agency's discoveries, inventions, and space exploration to people, wherever they are," NASA said in a press release announcing the partnership. Here's everything to know about how and when to watch NASA+ on Netflix. Not that long ago, NASA ceased broadcasting programming via satellite for NASA TV, which was a widely available channel under most cable packages and live streaming services. Instead, the space agency replaced NASA TV with NASA+, a free platform to stream all of the same content. Content through NASA+ is available to watch on desktop both from the agency's official site and YouTube channel. The platform is also available to download as a mobile app on smartphones. Now, all that same cosmic content is on its way to Netflix. Viewers will soon be able to find live NASA+ content in the Netflix interface alongside other popular series. 'The National Aeronautics and Space Act of 1958 calls on us to share our story of space exploration with the broadest possible audience,' Rebecca Sirmons, NASA+ general manager, said in a statement. 'Together, we're committed to a golden age of innovation and exploration – inspiring new generations – right from the comfort of their couch or in the palm of their hand from their phone.' NASA+ similarly debuted in May on Prime with free content that does not require a subscription. However, users will need to have a Netflix subscription to access otherwise free NASA+ content when it becomes available on the streaming platform. Netflix subscriptions start at $7.99 a month. Netflix said in a press release on Tudum, its companion website, that NASA+ will be "included in all memberships." While NASA has said its programming will debut on Netflix sometime this summer, an exact date has not been announced. The USA TODAY Network left messages Monday, July 7 with representatives of Netflix and NASA seeking more information. "Additional programming details and schedules will be announced ahead of launch," NASA said in its announcement. The partnership comes at a time that SpaceX is increasing its rocket launches from both Florida and California. The commercial spaceflight company, founded by billionaire Elon Musk, regularly launches Starlink satellites and is the only U.S. entity with a spacecraft capable of transporting astronauts to and from the International Space Station. SpaceX provides its own coverage online and on social media site X of commercial missions like Starlink launches and flight tests in South Texas of its massive Starship spacecraft. Coverage of SpaceX rocket launches is only provided on NASA+ when the U.S. space agency is a partner on missions. In fact, the next human spaceflight for NASA, which still lacks an administrator, is likely to occur later in July or early in August. Astronauts who journeyed in late-March to the space station as part of a NASA mission known Crew-10 are set to return to Earth in the weeks ahead after they are replaced by the Crew-11 contingent. The Crew-10 mission is set to get off the ground from NASA's Kennedy Space Center in Cape Canaveral. Both NASA and SpaceX, a partner on the space agency's commercial crew program, will provide coverage of both the Crew-11 rocket launch and subsequent Crew-10 water landing in California. NASA+ also provides regular coverage of astronaut spacewalks and live views of Earth from the International Space Station. Space enthusiasts can also follow along with live coverage of Cape Canaveral rocket launches from FLORIDA TODAY, part of the USA TODAY Network. Eric Lagatta is the Space Connect reporter for the USA TODAY Network. Reach him at elagatta@ This article originally appeared on Florida Today: Netflix adding NASA rocket launches from Florida, space events
