Tesla

Musk sold more than $20 billion in Tesla stock around the same time he purchased Twitter for $44 billion in late 2022.

Move over Bernard Arnault. There’s a new wealthiest person on the planet.

The electric vehicle maker said earlier this year it would cut 10% of its workforce.

Billionaire Leo Koguan, who claims to hold more than 27 million Tesla shares, said Musk is a “tyrant CEO” who has abandoned the carmaker for his other companies.

The funding would provide Musk’s venture, which is behind the Grok AI chatbot, a welcome boost in its efforts to catch up to AI rivals like OpenAI, Google and Anthropic.

After jostling for the position of second-wealthiest person in the world more than a dozen times in March, Musk and Bezos are competing closely once again.

Elon Musk internally announced that about 500 people, or the entire team that works on superchargers for Tesla, were being let go this week, according to The Financial Times.

Tesla could start selling its humanoid Optimus robot by the end of next year and one day will rake in more cash from robots than cars, CEO Elon Musk told investors on Tuesday, another ambitious claim from the billionaire that experts said might just be within the realm of possibility—though is highly unlikely to make the carmaker any money in the near future.

There are unusually high stakes surrounding Tesla’s upcoming earnings report, as Wall Street prepares for what is expected to be the company’s worst quarter in years by most mainstream metrics and investors prepare for more details on projects the company’s enigmatic CEO Elon Musk claims he’s close to betting the $450 billion company on.

Tesla stock notched another grim milestone Friday, extending stock year-to-date dive to over 40%, and there remains plenty of cause to remain highly cautious about the stock in the near term even as it grows cheaper.