When Elon Musk bought X for $44 billion in 2022, more than a quarter of that was financed by loans from banks including Morgan Stanley. Banks normally quickly sell off such loans, but in this case they kept much of that debt because investors were reluctant to bet on the social media company’s floundering business. … Read more
Elon Musk called on Thursday for the United States to “delete entire agencies” from the federal government as part of his push under President Donald Trump to radically cut spending and restructure its priorities. Musk offered a wide-ranging survey via a videocall to the World Governments Summit in Dubai, United Arab Emirates, of what he … Read more
The billionaire Elon Musk said in an extraordinary Oval Office appearance on Tuesday that he was providing maximum transparency in his government cost-cutting initiative, but offered no evidence for his sweeping claims that the federal bureaucracy had been corrupted by cheats and officials who had approved money for “fraudsters.” Answering questions from the media for … Read more
The Trump administration said on Tuesday that it had fired four employees from the Federal Emergency Management Agency, including the agency’s chief financial officer, over their roles in disbursing federal funds to house migrants in New York City hotels. The firings capped a startling chain of events that began on Monday with an early-morning social … Read more
Amid rumours of a crack in friendship, US President Donald Trump called Elon Musk “terrific” and said he got “great help” from the tech magnate, whom he appointed to head the Department of Government Efficiency (DOGE) to cut federal spending. “I’ve had great help from Elon Musk, who’s been terrific. He’s not gaining anything. In … Read more
Soon after taking over, they created a crisis by shutting down huge segments of federal government spending, though they restarted at least some payments after a judge slapped them with a court order. Late Friday, Elon Musk seized control of the Treasury Department’s payment system, which disburses trillions of dollars and houses sensitive data about … Read more
Bret: Which, as any honest employer will tell you, at least privately, tends to devolve in practice into a de facto system of set-asides based largely on the identity of an employee or contractor. And also, in some cases, a quiet but damaging erosion of standards, like the weakening of the Army’s fitness requirements that … Read more
Billionaire Elon Musk has expressed his disapproval of the ban on TikTok in the United States, citing it as a move that contradicts the principles of free speech. However, Musk also criticised the lack of reciprocity, pointing out that while TikTok operated freely in the US, platforms like X remain banned in China. “I have … Read more
A few years ago, when I was part of a crew fighting a series of large wildfires in California’s wilderness, my bosses told me, “This isn’t normal.” Climate change was making the wildfires bigger, faster and harder to stop. It seemed like only a matter of time before the conditions grew dangerous enough to threaten … Read more
New Delhi: Elon Musk said a third person has received an implant from his brain-computer interface company Neuralink, one of many groups working to connect the nervous system to machines. “We’ve got … three humans with Neuralinks and all are working well,” he said during a wide-ranging interview at a Las Vegas event streamed on … Read more