Tesla CEO Elon Musk praised India for successfully counting 640 million votes in just one day for their Lok Sabha elections. In contrast, California, with a significantly smaller population, is still struggling to tally the results of their presidential election which took place 18 days ago. Musk's post on X highlights the efficiency of India's electoral process and the shortcomings of the US system, which has led to a delay in vote counting in the most populous state.
British luxury car manufacturer Jaguar has unveiled a new logo as part of its rebranding effort, but it has not been well received by the public. The updated design has been the subject of criticism on social media, with viewers expressing disappointment over the lack of cars in the promotional video and the absence of the iconic Leaper Cat logo. Despite defending their new design, Jaguar has faced backlash from users on X (formerly Twitter), prompting them to invite Tesla CEO Elon Musk to an upcoming event to showcase their new vehicles.
President-Elect Donald Trump has announced that Tesla CEO Elon Musk and biotech entrepreneur Vivek Ramaswamy will be leading the newly established 'Department of Government Efficiency' (DOGE), which is tasked with reducing government size and regulations. The duo will offer advice and recommendations to the White House and its budget office, but it is unclear how the department will work and be funded. Trump has called this effort the "Manhattan Project" and expects it to be completed by the next midterm election.
On the verge of reaching a record-breaking $90,000, Bitcoin has experienced a surge in value since the election of Donald Trump as U.S. president. This growth in the world's biggest cryptocurrency is largely attributed to expectations of the Trump administration being more crypto-friendly. With allies like Elon Musk's Tesla and Trump's pro-digital assets stance, investors are confident in the success of the industry under Trump's leadership. This has also lead to an increase in demand for crypto stocks and currencies, solidifying the notion of the U.S. becoming the "crypto capital of the planet".
In a surprise victory, Donald Trump is elected for a second term as president, causing the stock market to rally with the Dow Jones, S&P 500, and Nasdaq all closing at record highs. The 10-year Treasury note also experienced a rise in yields, along with Bitcoin reaching a new record high. Republicans also flipped the Senate, while control of the House of Representatives remains uncertain. This election result is viewed as beneficial for the financial sector, with regional banks experiencing a massive rally. Tesla stock also surged, supported by Trump's policies and CEO Elon Musk's public endorsement.
In the wake of Donald Trump's victory in the US presidential elections 2024, Tesla CEO Elon Musk's wealth has skyrocketed by $20.5 billion, pushing him to become the world's richest person. Trump, who endorsed top billionaires during his campaign, including Musk, Bezos, and Zuckerberg, has seen a positive impact on their net worth after the election results. This has also led to a surge in Tesla's shares by 13%, while rival EV makers like Rivian and NIO have seen a decline in their stock values. As US stocks reached record highs, the Dow gained over 1,000 points, marking its fifth best point gain in history.
On Monday, Cathie Wood-led Ark Invest made significant trades in popular tech companies such as Block Inc, Palantir, and Coinbase Global Inc. Despite Block’s positive second-quarter results, Ark Invest sold over 230,000 shares, possibly due to challenges in the streaming market. The company also offloaded shares of Palantir, despite its strong third-quarter earnings report. On the other hand, the company bought shares of Coinbase, showing confidence in the popular cryptocurrency exchange.
Tesla CEO Elon Musk faces yet another legal battle, this time with Twitter’s former senior executives, over unpaid severance following his company's acquisition of the social media platform. The executives allege that Musk fired them at the last minute to avoid their agreed-upon severance packages. This lawsuit adds to Musk's mounting legal troubles related to employee compensation, with past lawsuits and ongoing arbitration cases.
The stock market experienced a spike in futures on Thursday after Tesla reported better-than-expected profits and a promising outlook for electric vehicle sales. Nasdaq 100 futures rose by 0.8% and S&P 500 futures saw a 0.4% increase, while Dow Jones Industrial Average futures struggled to keep up with a minor decline of 0.2%. This surge in the tech-heavy Nasdaq index was largely attributed to Tesla's impressive earnings performance and market reaction. In light of this, other tech giants such as Amazon and Meta also saw a boost in premarket trading. However, not all companies were met with positive news, as Boeing stocks saw a 3% dip after a rejected pay deal from workers. This news, combined with a possible delay in interest rate cuts from the Federal Reserve, sets the stage for a volatile trading day on Wall Street.
At a grand unveiling event, Elon Musk revealed the highly anticipated Tesla robotaxi, a futuristic vehicle with two gull-wing doors and no traditional controls. Along with the Cybercab, Musk introduced the Robovan, a large vehicle that can accommodate up to 20 people. While the show was full of excitement, experts caution that it may take years for Tesla to reach its goal due to regulatory hurdles and technological challenges. Nonetheless, Musk remains optimistic about the potential of self-driving cars, claiming they could be 10 times safer than human drivers.