Money, Wealth & Power—A Daily Look at the Financial World
Elon Musk is trying to drag the cloud business into orbit, and the price tag is staggering. Analysts now estimate that his vision of vast SpaceX data centers circling Earth could require as much as $5 trillion in annual spending, a figure that would dwarf today’s entire global cloud and semiconductor markets. The plan hinges…
For decades, Wall Street and Big Law have quietly minted money by selling access to structured financial and legal information. Now a new generation of artificial intelligence is threatening to erode that advantage by learning directly from the raw text, filings, and contracts those firms once controlled. The same data that powered premium terminals and…
Google cofounder Sergey Brin has been linked to a $42 million mansion on the Nevada side of Lake Tahoe, a purchase that lands just outside the reach of California’s proposed “billionaire tax” on extreme wealth. The timing of that deal, alongside other moves by Brin and fellow Google cofounder Larry Page, has turned a luxury…
Ford’s latest sales mix shows just how stubborn American car buyers can be. In January, the company sold more than twice as many gasoline Mustangs as it did all of its electric vehicles combined, underscoring how far traditional performance coupes still outrun battery-powered models in the showroom. The result lands at a moment when the…
Treasury Secretary Scott Bessent is trying to rewrite how Washington thinks about paying for the federal government, shifting the focus from taxes and borrowing toward asset-building and market gains. His signature “Trump Accounts” proposal, paired with a broader 3-3-3 economic strategy and a push to treat strategic resources and even digital assets as national wealth,…
Nvidia chief Jensen Huang is trying to reset how corporate leaders think about artificial intelligence. Instead of treating AI like a capital project that must justify itself with a spreadsheet before it even starts, he is urging executives to treat it more like a child’s hobby, something that needs room to grow before anyone demands…
Ford is weighing a radical fix for its struggling European electric vehicle business: letting a Chinese rival build cars inside one of its own factories to blunt the impact of punishing trade barriers. The talks with Zhejiang Geely Holding Group Co would turn an underused Ford plant into a production hub for Chinese-branded EVs, effectively…
President Donald Trump has spent the past year trying to turn the federal research budget into a political battlefield, targeting everything from basic biomedical science to climate and technology programs. Instead of capitulating, judges and lawmakers have drawn unusually bright lines, signaling that science funding is not as easy to weaponize as the White House…
California’s latest attempt to tax extreme wealth has collided with one of the oldest truths in American capitalism: money moves. As the state advances a one time levy on billionaire fortunes, a quiet but consequential migration is unfolding from the Pacific Coast to the Atlantic, with Florida emerging as the preferred landing pad. At stake…
Bitcoin’s latest slide has revived one of the market’s most unsettling voices. Michael Burry, the American hedge fund manager made famous by “The Big Short,” is warning that the current downturn could unleash what he calls “sickening scenarios” across crypto and even traditional safe havens like gold and silver. His argument is not just that…