Is big tech now just too big to stomach? | Business

The coronavirus pandemic has wrought economic disruption on a global scale, but one sector has marched on throughout the chaos: big tech. Further evidence of the industry’s relentless progress has come in recent weeks with the news that Apple and Amazon both raked in sales of $100bn (£72bn) over the Continue Reading

Price of bitcoin jumps after Elon Musk says it is ‘a good thing’ | Technology

The price of bitcoin rose on Monday after Elon Musk, the billionaire Tesla chief executive, said he was a “supporter” of the cryptocurrency. “Bitcoin is a good thing,” Musk said in comments broadcast on social audio app Clubhouse on Monday. Musk said he was “late to the party” in backing Continue Reading

Tesla joins Wall Street’s S&P 500 share index | Technology

Tesla has joined Wall Street’s prestigious S&P 500 share index as its sixth-largest member, immediately rubbing shoulders with the likes of Amazon, Apple and Facebook. Shares in the electric carmaker fell by more than 5% on its debut day on Monday, amid widespread investor concern about the potential impact on Continue Reading

Elon Musk overtakes Bill Gates to be world’s second-richest person | Technology

Elon Musk has toppled Bill Gates as the world’s second-richest person, just a week after the Tesla co-founder overtook Facebook’s Mark Zuckerberg to become the third-richest. Driven by a further surge in Tesla’s share price, the 49-year-old entrepreneur’s net worth rose by $7.2bn (£5.4bn) to $127.9bn. It has soared by Continue Reading

Elon Musk set to be world’s third-richest person as Tesla shares soar | Technology

Elon Musk, the maverick chief executive of electric car company Tesla, is poised to overtake Facebook’s Mark Zuckerberg to become the world’s third-richest person after Tesla’s shares jumped 13% following its selection to join the S&P 500 index of leading US companies. The latest surge in the Tesla share price, Continue Reading

Twenty years after the dotcom crash, is tech’s bubble about to burst again? | Business

‘Everybody loves a party … but, inevitably, after a big party there’s a hangover,” billionaire investor Stanley Druckenmiller said last week as stock markets seesawed amid fears that a new tech bubble was about to burst. “Right now, we’re in an absolute raging mania,” he said. And at times it Continue Reading

Even die-hard fans must be wondering if Tesla stock is moving too fast | Nils Pratley | Technology

You have to admire Elon Musk’s stage management. On Monday, the Tesla founder delivered a crowd-pleasing five-for-one stock split, transforming a $2,300 share price into a smaller figure to make ownership “more accessible”. The economic effect of the change was precisely zero – investors just got four additional shares for Continue Reading

Don’t be brainwashed – Elon Musk’s ‘bionic pig’ is just a publicity stunt | Arwa Mahdawi | Opinion

Here is a philosophical conundrum: if no one is talking about Elon Musk, does he really exist? The entrepreneur needs attention the way mortals need oxygen. If the 49-year-old is not in the news for a couple of days, he finds a way to shoehorn himself back into the headlines Continue Reading

Tesla’s stock split is likely to send the share price even higher | Patrick Collinson | Technology

Elon Musk got nearly $4bn richer on Wednesday morning, probably before he even got out of bed. Why? Because on Tuesday evening Tesla (one-fifth owned by Musk) announced a “stock split” that in pre-market speculation early on Wednesday drove up the already stratospheric valuation of the company by another 7%. Continue Reading

To understand how rich billionaires really are, use this calculator | Technology

We all know Jeff Bezos is very rich – but wouldn’t you love to know how long it would take him to, for example, earn your entire years’ salary, tackle your entire student debt or pay off your mortgage? A new website will you give you these exact numbers, as Continue Reading