Elon Musk’s fortune drops $80 billion amid tech stock rout
Musk suffered the worst losses of any billionaire Thursday as SpaceX and Tesla shares fell.
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Larry Ellison falls out of top 10 in billionaire rankings as Oracle plunges
Larry Ellison lost $11.5 billion on Thursday as Oracle shares fell around 7.5%
Jensen Huang sheds $12 billion as Nvidia shares sink, falling two spots in billionaire rankings
Nvidia’s Jensen Huang’s net worth fell by $12 billion on Thursday as Nvidia’s stock dropped 7%.
Adani Ports to buy European tank storage operator Evos in $2.9 billion deal
Upon completion of the deal, which is subject to regulatory approvals, Adani Ports—controlled by billionaire Gautam Adani—said its global footprint will expand to 28 ports and terminals across 10 countries.
David Jones collapses into administration weeks before Christmas
David Jones has entered voluntary administration for the first time in its 188-year history after talks with landlord Scentre Group collapsed. Stores continue to trade while receivers review the business.
Olympic committee could sell commercial stake in Team USA – for billions
The USOPC is exploring selling a minority stake in Team USA’s commercial rights to private investors—similar to a plan announced by FIFA earlier this year to immense global backlash.
Nvidia reclaims title as world’s most valuable company as Apple slips
Nvidia again became the most valuable company in the world on Tuesday after losing the title to Apple at Friday’s close.
Apple warns memory costs are climbing and will squeeze prices
Apple reported revenue beating expectations on Monday, but the company expects lower gross margins due to rising memory prices in the upcoming quarter.
Indonesian tycoon boosts stake in Sydney Salesforce Tower
OUE REIT—controlled by Indonesian tycoon Mochtar Riady and his family—is doubling down on its Australian investment with the purchase of an additional 50% stake in the 55-story Salesforce Tower, the tallest skycraper in Sydney, in a deal valued at $607 million.
Inside Silicon Valley’s love-hate relationship with Anthropic
Startups rely on Anthropic to offer the best AI capabilities to their own customers. But they’re often walking a tightrope, wary that the 800-pound gorilla will dictate the terms of million-dollar contracts and could cut into their market with competitive products.