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Howard Lutnick has advocated for increased use of Elon Musk's Starlink in a $42 billion rural broadband initiative, raising concerns about potential conflicts of interest given Musk's financial support for Trump. Critics argue that satellite connectivity is less effective than fibre-optic solutions, which remain the preferred choice for many states. Lutnick's proposed changes could direct significant taxpayer funds to Starlink, prompting accusations of favoritism and jeopardizing broadband expansion efforts in states like Louisiana, Nevada, and Delaware.
Elon Musk faces mounting challenges as Tesla Cybertruck deliveries are delayed due to reported issues with vehicle panels, prompting a "containment hold." This comes amid expectations of a decline in Tesla deliveries and ongoing protests against the company, with a recent poll showing 53% of Americans view Musk negatively. President Trump has publicly supported Musk, criticizing the boycotts against Tesla.
Kimball Musk has sold $27 million worth of Tesla stock amid the company's financial struggles, with shares down 50% since December. Despite this sale, he retains a significant stake of approximately 1.5 million shares valued over $500 million. Analysts suggest the stock's decline is linked to reduced demand and backlash from Musk's political ties, while competitors are gaining market share in Europe and Asia.
Elon Musk has invested $150 million to acquire additional shares in X, maintaining a valuation close to his initial purchase price from 2022. As the majority shareholder, he has also shown interest in acquiring more minority stakes at the same valuation, as noted in Kingdom Holding Co.'s 2024 annual report.
Elon Musk, head of the Department of Government Efficiency (DOGE), revealed the existence of 14 "magic money computers" within U.S. federal agencies that can print money without coordination, highlighting issues of waste and fraud in fiat currency. He noted discrepancies of up to 10% among these systems, which have facilitated trillions in undisclosed payments. Musk aims to analyze government computer systems to address inefficiencies, estimating an 80% waste and 20% fraud ratio in the departments he oversees.
Anti-Tesla protests are being funded by Karla Jurvetson, a prominent Democratic donor and ex-wife of Steve Jurvetson, an early Tesla investor. She contributed over $500,000 to Indivisible Action, which is organizing nationwide demonstrations against Elon Musk's leadership and policies. The protests have escalated to vandalism of Tesla properties, reflecting deep political divisions surrounding Musk's influence and actions.
Protests against Tesla, dubbed the Tesla Takedown movement, are escalating as demonstrators target showrooms and charging stations to express discontent with CEO Elon Musk's influence in the Trump administration. Musk has accused participants of being part of a conspiracy, while Trump labeled them "domestic terrorists," threatening legal action. Despite the protests being relatively small-scale, they signify a growing activism against the administration's policies and Musk's financial ties to Tesla.
Warren Buffett is making his March Madness bracket contest more accessible this year, offering a one-time $1 million prize for correctly predicting at least 30 of the first 32 games. If no one wins, a consolation prize of $250,000 will go to the employee with the most correct picks. Despite the odds of a perfect bracket being astronomically low, Buffett hopes the changes will finally lead to a winner among Berkshire Hathaway's 400,000 employees.
Russia is seeking to collaborate with Elon Musk on a potential joint mission to Mars, with discussions expected soon, according to Kirill Dmitriev, a special envoy for President Putin. This initiative aims to enhance the capabilities of Russia's space agency, Roscosmos, and its nuclear corporation, Rosatom, amidst ongoing geopolitical tensions. Dmitriev emphasized the importance of creative progress and the need for international cooperation in space exploration.
Tesla's stock has plunged 53% from its December highs, facing a ninth consecutive weekly drop with a 7% decline on Tuesday. Contributing factors include new competition from BYD's advanced battery technology, reduced price targets from analysts, declining vehicle sales in China and Europe, and concerns over CEO Elon Musk's divided attention.
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