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Investing

Asides

Shares of Tesla dropped by more than 14% on Thursday as the relationship between Elon Musk and President Donald Trump’s appeared to unravel

Tesla plummets 14% in stock’s 11th-worst day ever as Musk’s feud with Trump escalates

Musk has called to “kill” Trump’s policy bill, criticizing the legislation as “massive, outrageous” and “pork-filled.”

  • By Ty Roush
  • Forbes Staff
Andrew Glance, Scott Fyfe, Megan Gale and Qantas crew

Qantas bolsters Frequent Flyers with new David Jones partnership

Australia’s national carrier, Qantas, has partnered with department store David Jones to expand the reach of its Frequent Flyer program even further.

  • By Anastasia Santoreneos
  • Forbes Staff

2,450 Australians have a net worth of $46m+ – but a generational shift is looming

Capgemini’s annual report reveals Australia’s richest collectively own 3.3 per cent more than last year, and projects 22 per cent of it will be transferred to beneficiaries in 5 years.

  • By Shivaune Field
  • Business Journalist
Virgin. Image: Getty

Virgin Australia seeks $2.3 billion valuation at IPO, reports

The airline is set to re-enter the ASX and looking to raise $685 million in its initial public offering, Reuters reports.

  • By Anastasia Santoreneos
  • Forbes Staff

Japan’s 50 Richest 2025: Uniqlo billionaire Tadashi Yanai’s net worth hits a record high

As a stronger yen propels collective wealth by 14% to $228 billion, Tadashi Yanai’s fortune hits a record high.

  • By Naazneen Karmali

‘First in Australia’: Delivery startup banks $1.45m – and puts ‘Bitcoin on the balance sheet’

Last-mile delivery start-up Locate Technologies says it will stash cash in excess of its working capital in Bitcoin.

  • By Anastasia Santoreneos
  • Forbes Staff

Tencent Music buys $177 million stake in K-Pop giant SM Entertainment

With a 9.7% stake, Tencent’s online music arm will become the second-largest shareholder of SM Entertainment, known for major K-pop acts such as Aespa and NCT.

  • By Cat Wang

How this investor spots billion-dollar winners in boring industries

Satya Patel of Homebrew, No. 13 on this year’s Midas Seed list, scouted companies like IPO-bound digital bank Chime and payroll unicorn Gusto long before they made it big.

  • By Richard Nieva
Richard White

Australian billionaire’s WiseTech to acquire U.S. firm for $2.1 billion

WiseTech Global, the Australian logistics software company founded by Australian billionaire Richard White, plans to buy cloud computing firm E2open for $2.1 billion.

  • By Yessar Rosendar

Apple design guru Jony Ive set to become a billionaire thanks to Open AI deal

The all-stock deal with OpenAI values Ive’s AI hardware startup io at $6.5 billion—and is set to be a major windfall for the man who designed the iPhone.

  • By Phoebe Liu
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