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…
Robert F. Kennedy Jr.’s has the pharmaceutical industry running scared now that he looks poised to play a senior role in the next Trump administration. Adapting his possible future boss’ signature slogan as his own, RFK Jr. has promised to Make America Healthy Again, but one senior executive from the healthcare sector told the Financial Times his influence…
Elon Musk’s wealth has surged past the $300 billion milestone as Tesla shares soared, reflecting a significant boost following Donald Trump’s victory in the recent U.S. presidential election. According to Forbes’ Real-Time Billionaires list, Musk now holds a net worth of approximately $304 billion, making him the only person with a fortune exceeding $300 billion….
A breakneck rally in Tesla Inc. shares on Friday catapulted the electric-vehicle maker’s market value back over the coveted trillion-dollar mark, as investors bet that Donald Trump’s return to the White House can be a positive force for Elon Musk’s company. Shares of the company closed up 8.2% at $321.22 Friday, taking their gains this…
Even the billionaires who kept their lips firmly sealed about the U.S. presidential elections are benefitting from the outcome, with their fortunes ballooning as the market rallies. While a host of notable names came out in favor of either president-elect Donald Trump or Vice President Kamala Harris, a significant proportion kept their opinions to themselves….
Donald Trump’s election-night address to the country confirmed that one of the evening’s biggest winners—in addition to himself—was Elon Musk. Trump spent a hefty portion of his scattered victory speech thanking Musk, who has recently spent more than $130 million and a lot of time and tweets to the conservative political cause. In particular, Trump…
Betting markets took a sharp turn toward Donald Trump on Tuesday night as the first states were called in the presidential election. So far, reliably Republican and Democratic states have been called. Indiana, Kentucky, West Virginia, Alabama, Mississippi, Oklahoma, South Carolina, Florida, Tennessee, Arkansas, Nebraska, North Dakota, South Dakota, Louisiana, Wyoming, Ohio, and Texas are…
Barely an hour before the first polls began to close on Election Day, Republican presidential nominee Donald Trump posted on Truth social, the social network bearing his name, that there was rumored “cheating” in Philadelphia. “Law enforcement coming!!!” the former president wrote. A spokesman in the Philadelphia Police Department told Fortune the department was “not…
Financial markets surged Tuesday as the closely fought 2024 presidential campaign finally wrapped up while investors also looked ahead to the Fed meeting later this week. The Dow Jones Industrial Average jumped more than 400 points, or 1%, to close at 42,221.88. The S&P 500 rallied 1.2% to finish at 5,782.76, and the Nasdaq shot…
It appears as if some people were surprised to see that President Joe Biden wasn’t on the ballot this year. According to Google Trends, search results for “did Joe Biden drop out” have peaked this week, and are spiking on Election Day, even though the president had dropped out of the 2024 race this summer…