32 h. ago Tesla to award Musk an unparalleled $1 trillion depending on performance

Tesla’s board has proposed a US$1 trillion compensation plan for CEO Elon Musk in what would be the largest corporate pay package in history, underscoring the hold Musk has over the carmaker as it attempts to transform into an AI and robotics powerhouse. The world’s richest person has consistently said he needs more of a stake in the company, even as a legal battle over his 2018 pay package – then valued at a mere US$56 billion – continues. The regulatory filing puts Musk on a different plane...

Events

32 h. ago Tesla to award Musk an unparalleled US$1 trillion depending on performance

Tesla’s board has proposed a US$1 trillion compensation plan for CEO Elon Musk in what would be the largest corporate pay package in history, underscoring the hold Musk has over the carmaker as it attempts to transform into an AI and robotics powerhouse. The world’s richest person has consistently said he needs more of a stake in the company, even as a legal battle over his 2018 pay package – then valued at a mere US$56 billion – continues. The regulatory filing puts Musk on a different plane...

Events

1 week ago SpaceX’s Starship achieves key milestone, deploying first dummy satellites

SpaceX’s Starship megarocket roared into the skies Tuesday on its 10th test flight, turning in a strong performance after a series of fiery failures had begun to cast doubt on its future. Towering 123 metres (403 feet), Starship is the most powerful launch vehicle ever built and key to founder Elon Musk’s vision of carrying humanity to Mars, as well as Nasa’s plans to return astronauts to the moon. The stainless steel colossus blasted off from the company’s Starbase in southern Texas at 6.30pm...

Technology

1 week ago Elon Musk’s xAI sues Apple and OpenAI, alleging antitrust violations

Elon Musk’s companies xAI and X filed a sweeping US antitrust lawsuit on Monday against Apple and OpenAI, alleging the tech giants formed an illegal partnership to stifle competition in artificial intelligence and smartphone markets. The 61-page complaint, filed in federal court in Texas, accuses Apple and OpenAI of entering an exclusive deal that makes OpenAI’s ChatGPT the only generative AI chatbot integrated into Apple’s iPhone operating system while blocking rivals such as xAI’s Grok. “This...

Politics

1 week ago Musk’s Mars mission up in the air after SpaceX cancels Starship rocket launch

SpaceX cancelled a planned test flight for its Starship megarocket on Sunday, saying it needed time to troubleshoot problems, in the latest setback for Elon Musk’s behemoth after a series of explosive failures. The problems have led some observers to doubt whether the world’s biggest and most powerful launch vehicle will be capable of taking humans back to the moon – or achieving Musk’s dreams of colonising Mars. The rocket had been planned to blast-off from the company’s Starbase in southern...

Events

2 w. ago Elon Musk must face lawsuit claiming he ran illegal US$1 million election lottery

Elon Musk was ordered on Wednesday by a federal judge to face a lawsuit by voters accusing the world’s richest person of defrauding them into signing a petition to support the US Constitution for a chance to win his US$1 million-a-day giveaway. US District Judge Robert Pitman in Austin, Texas said Jacqueline McAferty plausibly alleged in her proposed class action that Musk and his political action committee America PAC wrongly induced her to provide personal identifying information as part of...

Politics

2 w. ago Musk must face lawsuit claiming he ran illegal US$1 million election lottery

Elon Musk was ordered on Wednesday by a federal judge to face a lawsuit by voters accusing the world’s richest person of defrauding them into signing a petition to support the US Constitution for a chance to win his US$1 million-a-day giveaway. US District Judge Robert Pitman in Austin, Texas, said Jacqueline McAferty plausibly alleged in her proposed class action that Musk and his political action committee America PAC wrongly induced her to provide personal identifying information as part of...

Politics

2 w. ago Elon Musk puts America Party ambition in low gear to rev up Tesla

Billionaire Elon Musk is quietly putting the brakes on plans to start his new political party, telling allies he wants to focus on his companies, The Wall Street Journal said on Tuesday, citing people with knowledge of the plans. Musk unveiled the America Party in July after a public dispute with US President Donald Trump on the tax cut and spending bill. He has recently been focused in part on maintaining ties with Vice-President J.D. Vance, the paper said, and has acknowledged to associates...

Politics

2 w. ago From space mining to tourism, China’s Guangdong blasts off in pursuit of Musk

South China’s Guangdong province has announced its ambition to join the country’s commercial space sector race, promising financial and policy support for companies wanting to build low-orbit satellite constellation systems and promote their application in futuristic industries including space mining and space tourism. Guangdong plans to use government procurement to support key innovative products and application scenarios for satellite constellation systems, which also include...

Technology

3 w. ago India’s EV market heats up as Tesla takes on Tata and JSW MG

Tesla opened its first showroom in India last month with little of its usual pomp, but the entry of Elon Musk’s electric vehicle company still made a splash – and is further driving expectations for the South Asian nation’s EV market. Indians have been quietly buying EVs. While still a niche segment in the world’s third-largest car market, EVs are belatedly gaining ground, with a fierce battle emerging between new players and the once dominant Tata Motors. JSW MG Motor India – a joint venture...

Politics