Separately, shares of Trump’s other publicly traded eponymous entity, Trump Media & Technology Group, dropped more than 10% in the first day of trading following Trump’s inauguration.
The league, which is bankrolled by the Saudi sovereign wealth fund and shares close ties with President-elect Donald Trump, will air across Fox properties including the flagship Fox channel, FS1 and Fox Business.
Reports about Chinese officials eyeing Musk as the buyer of TikTok’s U.S. operations are “not a total shock” given Musk’s relationship with Trump, says Wedbush analyst Dan Ives.
Still up 25% since Election Day, bitcoin is a part of a major slump across asset classes in recent weeks.
Oracle stock slumped as TikTok’s U.S. data host was affected by the prospect of a ban of the social media app, slicing $10 billion from Larry Ellison’s net worth.
The world’s richest man Musk already has a highly influential role in the incoming Trump administration.
“Tomorrow’s decisions are likely to be better made by three live and well-directed brains than by a dead hand,” wrote Buffett, whose lifetime giving of over $60 billion makes him likely the most prolific philanthropist ever.
Since Trump’s election win, Tesla stock is up 40%, making Musk almost $100 billion richer than any other person.
The world’s largest company thanks to the AI boom, Nvidia traces its origins back to a Denny’s diner in Silicon Valley.
Private prison operators GeoGroup and CoreCivic stocks have soared more than 70% apiece since Election Day.