Page 32 - Elon Musk

Elon Musk loses $148 bn in net worth: Why are billionaires losing money?

In December 2024, Elon Musk's fortune peaked at $486 billion. However, he is one among the many billionaires who are witnessing financial setbacks

New York State fires 2,000 prison guards who refuse to return after strike

New York fired more than 2,000 prison guards Monday for failing to return to work after a weekslong wildcat strike that crippled the state's correctional system, but said enough officers had come back on the job to declare the illegal work stoppage over. After 22 days of an illegal strike, the governor and I are happy to report it is now ended, Commissioner Daniel Martuscello said during a virtual press briefing. The state and the guards' union struck a new deal to end the strike this weekend, but it was contingent on at least 85% of staff returning to work by Monday morning. Although the number fell short of the 85% goal needed to trigger the agreement, Martuscello said the state would honor the deal's overtime and some other provisions. He said the National Guard would remain in place at prisons in a support position while the department undertakes an aggressive recruiting campaign to attract additional employees. About 10,000 security staff are available to work in prisons across

Purge of USAID programmes complete with 83% cut, says Marco Rubio

Secretary of State Marco Rubio said Monday the Trump administration had finished its six-week purge of programmes of the six-decade-old US Agency for International Development, and said he would move the 18% of aid and development programmes that survived under the State Department. Rubio made the announcement in a post on X. It marked one of his relatively few public comments on what has been a historic shift away from US foreign aid and development, executed by Trump political appointees at State and Elon Musk's Department of Government Efficiency teams. Rubio in the post thanked DOGE and our hardworking staff who worked very long hours to achieve this overdue and historic reform in foreign aid. President Donald Trump on Jan 20 issued an executive order directing a freeze of foreign assistance funding and a review of all of the tens of billions of dollars of US aid and development work abroad. Trump charged that much of foreign assistance was wasteful and advanced a liberal ...

Elon Musk eyes Social Security and Medicare as key targets for cuts

Elon Musk pushed debunked theories about social security on Monday while describing federal benefit programs as rife with fraud, suggesting they will be a primary target in his crusade to reduce government spending. The billionaire entrepreneur, who is advising President Donald Trump, suggested that $500 billion to $700 billion in waste needed to be cut. Most of the federal spending is entitlements, Musk told the Fox Business Network. That's the big one to eliminate. The comments on the popular program and other benefits provided to Americans could rattle politicians on both sides of the aisle as Musk works to downsize the federal government, especially as he already faces blowback for his chainsaw-wielding approach to laying off workers and slashing programs. Musk's estimate for the level of fraud in entitlements far outpaces figures from watchdogs like Social Security's inspector general, who previously said there was $71.8 billion in improper payments from fiscal years 2015 thro

Elon Musk's Tesla is flailing in China and BYD's rapid rise is to blame

Elon Musk's automaker has been backsliding in China for the past five consecutive months on a year-on-year basis, according to data from the country's Passenger Car Association

X crashes multiple times on Monday, Elon Musk claims 'massive cyberattack'

Elon Musk, who acquired X (formerly Twitter) in 2022 for $44 billion, has yet to comment on the multiple X outages

X outage eases as reports drop in US, UK, Downdetector data shows

The number of reports in the U.S. dropped to 403 as of 6:24 a.m. ET from more than 21,000 incidents earlier, user-submitted data on Downdetector showed

Here's why Elon Musk has bigger problems in land 'Tesla takedown' forgot

The billionaire's tarnished image is showing signs of damaging his company across the world. After he backed the far-right Alternative for Germany party, sales in that country last month slumped 76%

Elon Musk backs US to exit NATO, questions funding Europe's defence

On March 3, Musk wrote on X he agreed with a suggestion by a conservative commentator that the US should leave both NATO and the United Nations

Elon Musk blames George Soros, Democratic donors for protests against Tesla

Elon Musk's response comes after incidents, ranging from arson to gunfire, have escalated near Tesla dealerships in recent weeks over his role in the Donald Trump-led US administration

Expenses over $50,000 now require DOGE approval, says new EPA guidance

The Environmental Protection Agency has issued new guidance directing that spending items greater than USD 50,000 now require approval from Elon Musk's Department of Government Efficiency. The guidance, issued this week, escalates the role that the new efficiency group, known as DOGE, plays in EPA operations. Any assistance agreement, contract or interagency agreement transaction (valued at) USD 50,000 or greater must receive approval from an EPA DOGE team member," the EPA guidance says, according to documents obtained by The Associated Press. To facilitate the DOGE team review, EPA staff members have been directed to submit a brief, one-page explanation of each funding action each day between 3 and 6 pm Eastern time, the guidance says. Other relevant forms also must be completed. President Donald Trump has tasked DOGE with digging up what he and Musk call waste, fraud and abuse. The Republican president suggested Thursday that Cabinet members and agency leaders would take the lead

'You have fired nobody': Elon Musk clashes with cabinet over govt cuts

Republicans pressure President Donald Trump to rein in Elon Musk's 'unchecked influence' and 'authority' amid sweeping cost-cutting measures

'We love you, coming up to get you': Donald Trump to stranded astronauts

The two astronauts Sunita Williams, and Butch Wilmore have been stranded since June 2024 when an issue was found with Boeing's Starliner capsule, which returned without them

Elon Musk to face questioning in lawsuit over Twitter buyout flip-flop

Investors claim his flip-flopping on whether to go through with buying Twitter- including his public attacks- cast doubt over whether the deal would close and sunk its stock price

Starship 8 test failure: SpaceX's boldest rocket faces uncertain future

Repeated failures have cast doubt on Starship's reliability, a key part of SpaceX's goals for Mars colonisation, prompting the company to investigate failures and enhance the spacecraft's performance

Watch: SpaceX Starship explodes minutes after launch

Tech billionaire Elon Musk’s SpaceX faced another setback as its Starship spacecraft exploded in space on Thursday (local time). >

Watch: SpaceX Starship explodes in space, minutes after its launch

Minutes after it was launched from Texas, SpaceX lost control of the spacecraft, with engines cut off, causing it to veer off course before disintegrating in the upper atmosphere

'We are coming up to get you':Trump to Sunita Williams and Butch Wilmore

US President Donald Trump outlined his plan to bring home stranded astronauts Sunita Williams and Butch Wilmore, while criticising the Joe Biden administration for ignoring them

Trump limits Musk's authority, says he can't fire federal workers

At a cabinet meeting, Trump clarified that while Musk can make recommendations as head of the DOGE, he does not have the authority to make unilateral staffing or policy decisions

SpaceX's Starship explodes in space, again raining debris over Caribbean

Nearly two months after an explosion sent flaming debris raining down on the Turks and Caicos, SpaceX launched another mammoth Starship rocket on Thursday, but lost contact minutes into the test flight as the spacecraft came tumbling down. The 403-foot (123-metre) rocket blasted off from Texas a little before sunset. SpaceX caught the first-stage booster back at the pad with giant mechanical arms, but engines on the spacecraft on top started shutting down as it streaked eastward for what was supposed to be a controlled entry over the Indian Ocean, half a world away. Contact was lost with the spacecraft as it went into an out-of-control spin. The space-skimming flight was supposed to last an hour and couldn't release the mock satellites into space as planned. The spacecraft reached nearly 90 miles (150 kilometres) in altitude before trouble struck. It was not immediately clear where it came down. Unfortunately this happened last time too, so we have some practice at this now, SpaceX