Jonathan Wong
The Latest
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Elon Musk’s Net Worth Falls $17.5 Billion as Major Investor Opposes Compensation Package
Tesla shares fell sharply in after-hours trading Tuesday after one of the company's most influential institutional investors rejected Elon Musk's proposed $1 trillion compensation package, raising new questions about governance, succession planning and the electric automaker's long-term direction. The decline in Tesla's stock price, which dropped more than 5% following the disclosure, reduced Musk's net worth by an estimated $17.5 billion, according to Bloomberg's Billionaires Index. 
Tesla shares fell sharply in after-hours trading Tuesday after one of the company's most influential institutional investors rejected Elon Musk's proposed $1 trillion compensation package, raising new questions about governance, succession planning and the electric automaker's long-term direction. The decline in Tesla's stock price, which dropped more than 5% following the disclosure, reduced Musk's net worth by an estimated $17.5 billion, according to Bloomberg's Billionaires Index. -
MacKenzie Scott Sells $12.6 Billion in Amazon Stock as Philanthropic Giving Surpasses $19 Billion
MacKenzie Scott has reduced her stake in Amazon by more than $12.5 billion, according to recent regulatory filings, marking one of the largest asset shifts since her divorce settlement from Amazon founder Jeff Bezos. The move coincides with a continued wave of philanthropic giving that has positioned Scott as one of the most influential private donors in the United States. 
MacKenzie Scott has reduced her stake in Amazon by more than $12.5 billion, according to recent regulatory filings, marking one of the largest asset shifts since her divorce settlement from Amazon founder Jeff Bezos. The move coincides with a continued wave of philanthropic giving that has positioned Scott as one of the most influential private donors in the United States. -
Starbucks Hands Majority of China Stores to Boyu Capital in $4 Billion Shift Toward Local Strategy
Starbucks is reorganizing its business in China, transferring majority control of its extensive retail network to private equity firm Boyu Capital as the U.S. coffee chain confronts slowing sales and intensifying competition in the world's second-largest consumer market. The move marks one of the most significant strategic pivots the company has made since entering China more than two decades ago, reflecting the challenges of adapting to rapidly evolving local tastes and rising homegrown rivals. 
Starbucks is reorganizing its business in China, transferring majority control of its extensive retail network to private equity firm Boyu Capital as the U.S. coffee chain confronts slowing sales and intensifying competition in the world's second-largest consumer market. The move marks one of the most significant strategic pivots the company has made since entering China more than two decades ago, reflecting the challenges of adapting to rapidly evolving local tastes and rising homegrown rivals. -
IBM to Cut Thousands of Jobs as Company Accelerates Shift to AI and Cloud Services
IBM is preparing to eliminate thousands of jobs across its global workforce as the company accelerates a strategic shift toward cloud computing and artificial intelligence platforms, according to reports. The reductions are expected to affect a "low single-digit percentage" of IBM's roughly 270,000 employees worldwide, marking one of the largest staffing adjustments the company has taken since realigning its business structure around software and hybrid cloud services. 
IBM is preparing to eliminate thousands of jobs across its global workforce as the company accelerates a strategic shift toward cloud computing and artificial intelligence platforms, according to reports. The reductions are expected to affect a "low single-digit percentage" of IBM's roughly 270,000 employees worldwide, marking one of the largest staffing adjustments the company has taken since realigning its business structure around software and hybrid cloud services. -
Shein’s Fast-Fashion Battle in France Intensifies as Sex Doll Scandal Triggers Government Threat
Chinese fast-fashion giant Shein is facing one of its fiercest political storms yet in Europe after French authorities threatened to block the company's platform over the alleged sale of sex dolls with "childlike" features. The controversy erupted just days before Shein is set to open its first-ever physical store in Paris, intensifying France's growing backlash against the retailer's aggressive expansion. 
Chinese fast-fashion giant Shein is facing one of its fiercest political storms yet in Europe after French authorities threatened to block the company's platform over the alleged sale of sex dolls with "childlike" features. The controversy erupted just days before Shein is set to open its first-ever physical store in Paris, intensifying France's growing backlash against the retailer's aggressive expansion. -
Kimberly-Clark to Acquire Tylenol Maker Kenvue in $48.7 Billion Deal, Creating Global Consumer Health Giant
Kimberly-Clark has agreed to acquire Kenvue-the maker of Tylenol, Band-Aid, and Benadryl-in a $48.7 billion cash-and-stock transaction that will unite some of the world's best-known consumer health and personal care brands. The deal, announced Monday, marks one of the largest mergers in 2025 and positions the combined company as a global powerhouse in the consumer staples sector. 
Kimberly-Clark has agreed to acquire Kenvue-the maker of Tylenol, Band-Aid, and Benadryl-in a $48.7 billion cash-and-stock transaction that will unite some of the world's best-known consumer health and personal care brands. The deal, announced Monday, marks one of the largest mergers in 2025 and positions the combined company as a global powerhouse in the consumer staples sector. -
OpenAI Signs $38 Billion Cloud Deal With Amazon, Expanding Beyond Microsoft for Massive AI Compute Power
OpenAI has signed a $38 billion agreement with Amazon Web Services to secure access to hundreds of thousands of Nvidia processors, marking its first major partnership with the world's largest cloud provider and a clear step away from its long-standing dependence on Microsoft. 
OpenAI has signed a $38 billion agreement with Amazon Web Services to secure access to hundreds of thousands of Nvidia processors, marking its first major partnership with the world's largest cloud provider and a clear step away from its long-standing dependence on Microsoft. -
NVIDIA’s Jensen Huang Says $100K Visa Proposal 'Too High,' Vows NVIDIA Will Cover Fees for Workers
NVIDIA CEO Jensen Huang has sharply criticized President Donald Trump's proposed $100,000 fee for H-1B visa applications, arguing that such a policy would have prevented his own family from immigrating to the United States. The Taiwanese-born executive said the proposal, announced in September 2025, risks undermining the very immigrant-driven innovation that fuels America's technology sector. 
NVIDIA CEO Jensen Huang has sharply criticized President Donald Trump's proposed $100,000 fee for H-1B visa applications, arguing that such a policy would have prevented his own family from immigrating to the United States. The Taiwanese-born executive said the proposal, announced in September 2025, risks undermining the very immigrant-driven innovation that fuels America's technology sector. -
Amazon Stock Surges 11% as Cloud and Advertising Growth Drive Blowout Quarter
Amazon shares jumped 11% Friday after the company delivered third-quarter results that exceeded Wall Street expectations across nearly every metric and raised its spending forecast to meet soaring demand for artificial intelligence infrastructure. The rally pushed the e-commerce and cloud giant's stock to its highest level this year, easing investor concerns over mounting AI costs that have rattled peers like Meta and Microsoft. 
Amazon shares jumped 11% Friday after the company delivered third-quarter results that exceeded Wall Street expectations across nearly every metric and raised its spending forecast to meet soaring demand for artificial intelligence infrastructure. The rally pushed the e-commerce and cloud giant's stock to its highest level this year, easing investor concerns over mounting AI costs that have rattled peers like Meta and Microsoft. -
Disney Channels Go Dark on YouTube TV After Contract Talks Collapse Between Google and Disney
More than 20 Disney-owned channels, including ESPN, ABC, and National Geographic, disappeared from YouTube TV after Google and Disney failed to renew their carriage agreement, escalating a standoff over distribution fees that could reshape the streaming-TV landscape. 
More than 20 Disney-owned channels, including ESPN, ABC, and National Geographic, disappeared from YouTube TV after Google and Disney failed to renew their carriage agreement, escalating a standoff over distribution fees that could reshape the streaming-TV landscape.
