Money, Wealth & Power—A Daily Look at the Financial World
Walmart has crossed a threshold that once seemed reserved for Silicon Valley giants, with investors valuing the company at roughly one trillion dollars. The move cements the Arkansas-based chain as one of the most powerful corporations in the world and underscores how a traditional big-box retailer has remade itself for the digital era. I see…
Houston’s shale patch is staring at a fresh warning sign as Nine Energy Service Inc. tumbles into court protection, the latest energy player to be pulled under by a heavy debt load and a cooling drilling cycle. The Houston-based oilfield contractor is using Chapter 11 to slash hundreds of millions of dollars from its balance…
Tesla once promised a battery supplier a Cybertruck jackpot worth $2.9 billion. Instead, production delays and shifting priorities left that contract worth just $7,386, erasing more than 99.9% of its value and turning a paper fortune into a cautionary tale. The collapse shows how volatile the electric vehicle supply chain can be when a single…
The union of SpaceX and xAI has been framed as a sci‑fi play to put artificial intelligence in orbit, but the real story is far more earthbound. By folding a cash‑hungry chatbot startup into a highly profitable rocket company at a combined valuation of $1.25 trillion, Elon Musk is effectively using his strongest asset to…
Once hailed as a savvy dealmaker, Jason Ader is now confronting a public unraveling that is as personal as it is financial. His bankruptcy paperwork, which reportedly lists two guinea pigs alongside an Apple Watch, has turned a Wall Street star’s fall from grace into a viral spectacle. Behind the odd inventory of assets lies…
Coinbase chief Brian Armstrong has been cast as Wall Street’s latest villain, but he is leaning into the role rather than retreating from it. After a high profile profile branded him the financial sector’s “Enemy No. 1,” the Coinbase CEO fired back, arguing that the real fight is not banks versus crypto but whether the…
Canada poured public money into General Motors on the promise of secure auto jobs and a modernized manufacturing base. Now, after fresh layoffs in Oshawa and other Ontario facilities, Ottawa is moving to claw that money back and turn a political embarrassment into a test case for corporate accountability. The clash pits a government under…
California’s latest corporate loss is not a social media startup or a gaming app, but a quantum computing pioneer that once embodied Silicon Valley’s cutting edge. By shifting its headquarters from the Bay Area to Florida, the company is turning a long‑running political argument about blue‑state policy into a concrete economic win for a red‑leaning…
Raytheon is moving a step closer to turning merchant ships into their own air defense platforms, using tethered drones as elevated sensor masts instead of relying solely on distant escorts. The new Defense Advanced Research Projects Agency contract tasks the company with building a maritime shield that can spot and counter threats before they reach…
Elon Musk is fusing his rocket company and his artificial intelligence startup into a single corporate vehicle that early reports say is worth roughly $1.25 trillion. The combination of SpaceX and xAI instantly creates one of the most valuable private firms on the planet, and it tightens Musk’s grip on both orbital infrastructure and cutting…