Billionaires

The Italian city said speculations about the event are “completely unfounded.”

The EV company’s sales are tanking in all major markets as its Chinese rivals are surging. But Tesla’s problems are just beginning.

The divestment comes after WiseTech appointed its founder Richard White as executive chairman last month, enabling the tycoon to take back control of the company four months after quitting as CEO following a series of damaging media reports.

The EV maker is struggling as anti-Elon Musk sentiment sparks Tesla boycotts and protests. It’s not likely to happen, but who could step in if he relinquished the reins?

“I loudly urge Musk and the Board to step up, stop being silent, and help resolve this crisis forming at Tesla,” wrote Wedbush analyst Dan Ives.

The EV maker has been the single biggest part of his ever expanding fortune for years. No more, as Tesla’s stock comes crashing down.

Expectations were that billionaires would be the big winners in a Trump America 2.0. Instead, their fortunes have plummeted in the first eight weeks. Here are the biggest losers.

Australian tech billionaire and climate activist Mike Cannon-Brookes has defended his company’s sponsorship of the Williams Formula 1 team and his use of a private jet, emphasizing the need for pragmatic trade-offs in the pursuit of sustainability.

Salesforce, a cloud computing software company co-founded by billionaire Marc Benioff, plans to invest $1 billion in Singapore.

President Donald Trump and Elon Musk appeared outside of the White House together so Trump could look at Teslas to purchase.