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The world’s richest person announced on Friday that he has combined two of his multi-billion-dollar companies. Here’s how much Musk stands to make from the highly unusual deal. On Friday evening, Elon Musk announced on his social media company X that xAI, his artificial intelligence startup, had bought X in an all-stock transaction. According to Musk, the deal values the newly combined company called xAI Holdings at $113 billion. The move to combine X and xAI invites criticism, given that Musk controls both companies. It also doesn’t help that X has struggled since he took the company private in 2022....

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links. Rep. Alexandria Ocasio-Cortez (D-NY) is calling out what she sees as a glaring problem in Washington — lawmakers profiting off the stock market while shaping the very policies that influence it. During a recent appearance on “The Weekly Show with Jon Stewart,” Ocasio-Cortez didn’t hold back on the issue of insider trading in Congress. “It's so crazy … People think that everyday people are stupid. I'm like, do you all really think that people...

The average American’s net worth across all states is nearly $595,000. However, wealth levels vary among states alongside cost of living and other factors. As Visual Capitalist's Alejandra Dander notes, according to anonymized data from nearly 2 million Empower Personal Dashboard™ users, we highlight the top ten states with the highest average net worth per person.A closer look at average net worthNet worth is calculated by taking what a person owns (their assets) and subtracting what they owe (their debts). Here are the leading states by net worth as of September 2024.Connecticut has the highest net worth of nearly $920,000,...

Mario Nawfal @MarioNawfal 🚨EX-USAID CHIEF SAMANTHA POWER’S NET WORTH SKYROCKETS—FROM $6.7M TO $30M ON A $180K SALARY Samantha Power, Biden’s ex-USAID chief, saw her wealth explode while earning just $180K per year. Where did the extra $23.3M come from? And all of this in just 3 years! USAID oversees billions in global funding—was she cashing in? The public deserves answers. Follow the money. Source: vBulletin, Inside Biden's Basement --- Elon Musk @elonmusk Replying to @amuse How did she accumulate wealth that is 100 times her after tax salary? --- Not a bad gig if you can get it. Her husband,...

In one year, Donald Trump has gone from a net worth of $2.5 billion and facing significant legal burdens, to becoming President-elect and returning to Forbes’ tally of America’s richest people, thanks to his majority stake in Truth Social’s parent company, which grew his net worth to $6.1 billion. TimelineJanuary 2024By early this year, Trump’s net worth stood around $2.5 billion, a figure Forbes determined in September 2023 for the annual Forbes 400 list of wealthiest Americans; that figure declined from his previous time in office, when his net worth reached $4 billion—although his net worth was less volatile before...

the first person to have a net worth of $400 billion, Bloomberg reported. An insider share sale of his privately held company Space X boosted his net worth by $50 billion to $439.2 billion, according to the Bloomberg Billionaires Index. In late 2022, Musk's net worth plunged by more than $200 billion, but it has been heavily boosted by President-elect Donald Trump winning reelection to another term, Bloomberg said. Musk spent millions to help Trump get elected and also appeared at his rallies.

Mark Cuban defended Donald Trump Tuesday after a Democratic lawmaker accused the former president of lying about his net worth. Rep. Ted Lieu (D-Calif.) used the hashtag “TrumpIsBroke” in a post on X after the former president’s lawyers told a New York court that the 77-year-old failed to secure the nine-figure bond sum in his civil fraud case despite approaching more than 30 firms. “Trump claims he is a billionaire. But he can’t pay a $464 million judgment. That means he is lying. How do I know? Math,” Lieu wrote. Cuban, a billionaire entrepreneur and former “Shark Tank” host, came...

If you have read my articles for a while, you would know I am a big fan of studies that give a perspective of where the average American stands financially. Now, let me be clear: I wouldn’t use these as a basis for a financial plan by any stretch of the imagination. These studies don’t mean people are in a good or bad financial situation. Plus, they include a large contingent that lives below or at the poverty line.However, why I like these studies is twofold. First, finances are still taboo to talk about. Thus, most people have no sense...

Alexandria Ocasio Cortez Net Worth (AOC) Net Worth $29 Million Assets $20 Million Investments $8 Million Annual Salary $155,000 Business Income $4 Million Donations Received $2 Million caknowledge.com/alexandria-ocasio-cortez-net-worth-aoc/ “Alexandria Ocasio (AOC) owns over 6 real estate properties, 5 Cars, 2 Luxury Yachts. Alexandria Ocasio’s Assets also includes Cash reserves of over $3 Million. Alexandria Ocasio (AOC) also owns an investment portfolio of 11 stocks that is valued at $15 Million.

Hunter Biden: Failson: While living with Dead Brother Beau’s Wife, he Seduced Stripper in DC, impregnated Lunden Roberts, then claims he can’t remember her, and has her removed from his work insurance. She has to sue him for Child Support in Arkansas and he finally agrees to give her support, although he didn’t cooperate with the court for net worth, claiming no job. Hunter was given $3.5M Moscow, $160,000 monthly Ukraine, among many other international fees, including working with supposed $1 billion Chinese loan for his board position on a Chinese private-equity firm—he does hold a stake in the firm....

Sen. Kamala Harris (D-CA) made history this week as former Vice President turned presidential candidate Joe Biden announced the pair will share the Democratic ticket in 2020. Although receiving national attention as a presidential primary contender, Harris ultimately bowed out of the race in December, citing sinking poll numbers and funding issues. “My campaign for president simply doesn’t have the financial resources we need to continue. I’m not a billionaire. I can’t fund my own campaign,” she wrote in her concession announcement, taking a not-so-subtle dig toward her billionaire opponents Michael Bloomberg and Tom Steyer, who openly self-funded their ill-fated...

Kylie Jenner has been stripped of her title of youngest self-made billionaire.The 22-year-old is accused in a scathing new Forbes report of lying about her wealth and forging tax returns in order to inflate her net worth.

Kylie Jenner has been hit by extraordinary claims that she is not a billionaire. Forbes have accused the family of creating a 'web of lies' and say Kylie, 22, has inflated the size of her business and success. The publication accuses her of 'lying about company figures and forging tax returns' to reach the billionaire status.

Zoom Is Now Worth More Than The 7 Biggest Airlines Amid the COVID-19 pandemic, many people have transitioned to working—and socializing—from home. If these trends become the new normal, certain companies may be in for a big payoff.Popular video conferencing company, Zoom Communications, is a prime example of an organization benefiting from this transition. Today’s graphic, inspired by Lennart Dobravsky at Lufthansa Innovation Hub, is a dramatic look at how much Zoom’s valuation has shot up during this unusual period in history.The Zoom Boom, in Perspective As of May 15, 2020, Zoom’s market capitalization has skyrocketed to $48.8 billion, despite...

A growing body of evidence shows why Gen Y consumers aren't ideal: because many of them are broke But a troublesome detail has been persistently overlooked over the last decade of wooing this crowd: Millennials—many of them, anyway—are strapped for cash. That’s one of the takeaways of a brand new study from Deloitte’s Center for Consumer Insight, which surveyed over 4,000 American consumers to determine their current consuming habits. And when it came to millennials, one statistic stuck out: Since 1996, the average net worth of consumers under 35 has dropped by 35%. The problem, Abramson believes, is that brands...

As of Dec. 31, Kavanaugh had between $15,001 and $50,000 in an interest-bearing Bank of America BAC, +0.04% account, and less than $15,000 in Vanguard funds within a 401(k) plan offered by the Employee Retirement System of Texas, according to his financial disclosure form. He has fully paid off a loan from a thrift savings plan, as well as a credit-card account from JPM, -0.62% that appeared in a previous disclosure plan. Not every Supreme Court justice has such a bland portfolio. According to watchdog group Fix The Court, Chief Justice John Roberts and Justices Stephen Breyer and Samuel Alito...

As the stock market soars to new highs, here's some sobering statistics to consider. The stock market is at an all-time high but Americans Owe More, Save Less, and are Poorer Than in Decades. Negative Wealth Percentage On the Rise Net Worth Going Nowhere Sobering Stats A greater share of Americans have more debt than money in the bank than at any point since 1962, according to Deutsche Bank economist Torsten Slok.30.4% of US families have negative net worth despite the recovery in housing and the stock market.Median net worth is below where it was in 1989. But perhaps the...

Stock wealth climbed by $494 billion and housing by $554 billion The wealth of U.S. households climbed to a record $90.2 trillion in the third quarter, driven by a powerful buildup in both real estate and stocks. Stockholdings—both directly and through retirement accounts like 401(k)s—climbed by $494 billion last quarter while real estate, which is primarily people’s homes, rose in value by $554 billion, according to a Federal Reserve report released Thursday. The report shows that U.S....

<p>Theranos, the biotech company started by a 19-year-old Stanford dropout, has another hurdle to cross in its whole "we're totally a legit blood-testing company" campaign. This time, it turns out that tens of thousands of blood tests were voided, making them totally invalid. Whoops!</p>

We haven't really written much about the insane Theranos scandal, though we discussed it on our podcast. The whole story is pretty crazy -- involving a heavily hyped up company that appeared to basically be flat out lying to everyone about what it could do. The company still exists, but barely. The company's founder and CEO, who was plastered across magazine covers and compared frequently to Steve Jobs, has been banned from running a lab for two years, and the company is now facing a $140 million lawsuit from its biggest partner, Walgreens, who claims that Theranos repeatedly lied to...