Tesla Chair Robyn Denholm urged shareholders to back a proposed $1 trillion compensation package for CEO Elon Musk, warning in a letter Monday that the company risks losing “significant value” if the deal fails and Musk opts to step down as chief executive. The plea to investors comes ahead of Tesla’s annual shareholder meeting on…
Strava, an exercise-tracking app last valued at $2.2 billion, is benefiting from Gen Z’s obsession with run clubs and marathons and is looking toward a future IPO, according to its CEO. Michael Martin, who took over as CEO in 2024 from Strava cofounder Michael Horvath, told the Financial Times the company has the “intention to…
Marred with job market woes and rising living costs, Gen Zers don’t have the financial stability to date right now—and those who are dating are using their romantic interests as a potential career or wealth boost. That’s at least, according to dating apps. But Grindr CEO George Arison isn’t buying it. “We have no challenge…
The all-or-nothing moonshot pay plan was a gambit so risky even Axon Enterprise CEO Rick Smith’s wife was against it. But Smith had started getting antsy around 2016, as he was approaching three decades at the company, Axon compensation committee chair Hadi Partovi told Fortune. Smith was talking more seriously to the board about his…
Jeff Bezos joined Sam Altman in admitting the existence of an AI bubble—but Amazon’s founder sees upside. Recently, many AI-related companies have seen voracious optimism and spikes in valuations. In August, the OpenAI CEO told reporters the AI market was in a bubble. When bubbles happen, “smart people get overexcited about a kernel of truth,” Altman…
However, as more chatbots and automated assistants take over the duties of human roles, there’s a growing cohort of executives who see shorter workweeks on the horizon—and Zoom CEO Eric Yuan can even see staffers only clocking in a few days a week. “I feel like if A.I. can make all of our lives better,…
Cambricon, a China-based semiconductor firm, posted record profit in the first half of the year, along with revenue that surged roughly 4,300%. The earnings, released late Tuesday, serve as an example of Nvidia’s growing local competition in China, as the government and market seek alternative chipmakers to gain traction in the region. Nvidia’s business in…
CEOs with major controlling stakes in their billion-dollar companies have the power to make themselves richer and richer, but one 82-year-old tech leader isn’t cashing in for herself. Judy Faulkner, the CEO of Epic Systems, has been selling her non-voting shares back to the company—and redirecting the profits elsewhere. “I’ve never cashed a single share…
The great-granddaughter of the inventor of condensed soup has joined the fam at Campbell’s, the company announced this week. The daughter of late billionaire Campbell’s heiress Mary Alice Dorrance Malone will serve on the board following her mother’s death last month. The Campbell’s Company on Friday announced it had elected 42-year-old luxury fashion entrepreneur Mary…
– X-it. During Linda Yaccarino’s two-year tenure as CEO of X, one question dogged her leadership: how much power did she actually have? While Yaccarino led the social media platform as CEO, often it seemed the real decision-making came down to owner Elon Musk, who bought what was then Twitter for $44 billion in 2022….