Elon Musk’s net worth has taken a $15.3 billion hit after the Tesla CEO announced he was to form a new political party. The news sent ripples through financial markets and spooked investors concerned about Musk’s political ambitions and possible implications for Tesla’s brand and business operations. Why It Matters Musk, the richest man in…
Butch Meily is president of the Philippine Disaster Resilience Foundation, IdeaSpace, and QBO Innovation. He is the author of the new memoir From Manila to Wall Street: An Immigrant’s Journey with America’s First Black Tycoon. In 1961, U.S. President John F. Kennedy created a new federal agency, the United States International Agency for Development (USAID)….
Donald Trump has made several comments about the possibility of sending Elon Musk back to his native country amid their reignited feud over the president’s One Big Beautiful Bill Act, but would he be welcome? Musk, the world’s richest man, was born in South Africa but has previously said he “considers himself to be an…
A growing number of America’s closest allies are updating their travel advisories for citizens visiting the United States, citing stricter immigration enforcement and the potential for detention or deportation—even for travelers carrying valid visas or authorization. In mid-March, Germany, the United Kingdom, Finland and Denmark all revised their official guidance, warning that entry into the…
Once Elon Musk’s cofounder, OpenAI CEO Sam Altman is now at the top of Musk’s “list of enemies”—and he’s not staying quiet about how much he resents him and his company. In an expanded version of a previous lawsuit, Musk called OpenAI a “market-paralyzing gorgon,” the Wall Street Journal reported. He’s also taken to calling…
With President Joe Biden leaving office soon, the Commerce Department is wrapping up loose ends, including allocating billions of dollars in subsidies to help build advanced chips on U.S. soil. The Commerce Department will give Taiwan Semiconductor Manufacturing (TSMC) up to $6.6 billion in direct funding for three semiconductor manufacturing facilities in Arizona, according to…
U.S. relations with China have been incredibly complex for many years. Ebbing and flowing among different trade policies, the two economic supergiants are poised to see increased strain amid new tariff plans. The re-elected incoming president Donald Trump campaigned on imposing high tariffs on China and all foreign entities—which economists have argued will have devastating…
Chinese President Xi Jinping said Thursday Beijing and Washington must find a way to “get along” in a message to US president-elect Donald Trump, state media reported. Trump’s crushing presidential victory ushers in a new era of uncertainty in the United States and the world, and heralds a possible shift in US-China relations, frayed in…
We’re almost there, America. After months of commercials, texts, and rhetoric, the 2024 U.S. election is finally in the home stretch as Americans (who haven’t already voted) head to the ballot box. On Tuesday night, the polls will no longer matter. The only numbers that will be focused on are the ones from ballots. And…
Berkshire Hathaway’s cash reserves are at an all-time high of $325.2 billion as Warren Buffett quickly exits what has been one of his most profitable trades of the past decade. The Oracle of Omaha and his conglomerate holding company Berkshire started to offload shares of Apple late last year, paring down a major bet on…