Author: Lauren Bell

I write about the world’s richest people and their businesses. I graduated from Miami University (OH). I recently completed an M.S. in Journalism at Columbia University with an investigative journalism focus. I am a New Jersey native living in Chicago.

Elon Musk, the CEO of Tesla, said that shareholders are likely to approve his $56 billion pay package and a plan to move Tesla’s headquarters to Texas at their annual meeting on Thursday. “Both resolutions from Tesla shareholders are currently getting strong support,” Musk shared on the social media platform X late Wednesday, expressing gratitude to investors for their backing, according to a report. The data Mr. Musk showed in charts are early results and might change during the annual meeting. Still, if the two proposals get officially approved, it would be a major victory for the unpredictable CEO, who…

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Last week, the National Highway Traffic Safety Administration said there were many recalls. One of them was for more than 460,000 Kia Telluride cars. They might catch fire when they’re parked or being driven. Want to check if there’s a recall for your car? If it’s not on the list below, you can look it up in USA TODAY’s car recall list or on the NHTSA website. On the NHTSA website, you can search for recalls by typing in your car’s identification number or VIN. Here’s what you need to know about the car recalls NHTSA announced from June 3…

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Nvidia’s market value has jumped past $3 trillion (£2.3 trillion), making it the second most valuable publicly traded company in the world, surpassing Apple. On Wednesday, Nvidia’s stock price increased by more than 5%, reaching over $1,224. This rise continues the company’s rapid growth from last year, driven by expectations that Nvidia will greatly benefit from the surge in investment in artificial intelligence (AI). Its market value is now only behind Microsoft, which is also a major player in the industry due to its investments in ChatGPT creator OpenAI. Nvidia’s Rapid Growth In February, Nvidia was valued at “only” $2…

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A $60m (£47m) collection of sports memorabilia, rare trainers, and luxury cars owned by a Canadian entrepreneur will be auctioned at RM Sotheby’s on Saturday. The collection, owned by Miles Nadal, includes a racing suit signed by former Formula One star Michael Schumacher and five classic red Ferraris worth a combined $20.25m. Among the items up for auction is a rare pair of Nike’s “Moon Shoe,” which Nadal purchased for a record-breaking $437,500 in 2019. This luxurious collection was previously displayed at a private museum in Toronto. In various media interviews, Nadal mentioned that he decided to auction part of…

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Months after Nvidia unveiled the next-generation version of its highly sought-after superchip, one of its largest customers is already swapping out its order for the powerful new successor. Amazon is holding off on buying Nvidia’s Hopper chips in favor of the upcoming Blackwell processors. While Hopper is currently the top-of-the-line GPU, Nvidia itself sees a need for even more powerful options for AI applications. Amazon, the leading cloud provider, says it switched its order entirely to Blackwell due to the short gap between the current and new chip. Neither company revealed the cost of the Blackwell order. Nvidia declined to…

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Apple is just launched a $110 billion stock buyback, the biggest in stock market history. The declaration coincided with Apple’s robust fiscal second-quarter earnings report, where revenue and earnings per share surpassed projections, and sales in Greater China outperformed expectations. As a result, Apple’s stock surged by 7% on Friday. Wedbush analyst Dan Ives commented in a note on Friday, stating that Apple’s announcement of the unprecedented $110 billion buyback underscores the significant cash flow Apple continues to generate, with no indication of slowing down. He emphasized that the capital allocation strategy remains highly favorable to investors in this enduring…

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As WWDC draws nearer, Apple is getting ready to hop on the AI trend, gearing up to introduce several AI applications and models. It’s expected that most of Apple’s native apps, along with the upcoming Safari update, will coincide with the release of iOS 18. The upcoming version of Safari is poised for a substantial update featuring AI capabilities, signaling a noteworthy evolution in browsing functionalities. Central to this update lies Intelligent Search, fueled by on-device AI. This functionality scrutinizes web page content to furnish users with succinct summaries, aiming to streamline browsing by pinpointing crucial topics and phrases, ultimately…

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Alphabet’s stock reached its highest price ever, $159.89 per share, and closed at $158.14. It gained 1.3%, even though the overall market was down a bit. This pushed Alphabet’s total value in the stock market to $1.95 trillion, getting very close to reaching $2 trillion. Only a few other big tech companies like Apple, Microsoft, and Nvidia, along with Saudi Aramco, have ever hit that milestone. Alphabet’s stock has been going up a lot lately. It’s gone up by 13% this year and a huge 77% since the end of 2022. This is because the company has been making a…

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After a big problem made Meta’s social media not work for everyone on Tuesday, March 5th, 2024, it hurt lots of people who use it. A report by India Today said Meta lost about $3 billion because of this. Meta’s stock prices went down by 1.6 percent and closed at $490.22 on March 5th, according to NASDAQ. Mark Zuckerberg’s Ups and Downs In just one day, Mark Zuckerberg, who started Meta, lost more than $2.79 billion, bringing his total worth to about $176 billion, according to Bloomberg Billionaires Index. However, he still stayed as the fourth richest person in the…

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Apple is going to stop its team that was making electric cars, known as the Special Projects Group, according to Bloomberg. This news means Apple is giving up on making a car to compete with Tesla. Even though the program had lots of workers, it didn’t really match Apple’s main focus on making electronics and online stuff. This made people wonder who would make the car for Apple. In 2014, people started talking about Apple wanting to make a car when the company hired car experts from other car companies. Even though Apple didn’t share much about its plans, they…

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