Companies & CEOs
SpaceX files for IPO that could make Musk the world's first trillionaire - 05/22/2026
Aerospace firm SpaceX has submitted for an IPO that may break records and potentially turn its founder, Elon Musk, into the first trillionaire globally. Documents submitted to the US Securities and Exchange Commission (SEC) indicate that SpaceX intends to launch its shares on the Nasdaq with the ticker symbol SPCX in June this year. The firm has not yet revealed its anticipated valuation or the...
Commerzbank expects to save up to €350 million annually with AI - 05/21/2026
Bettina Orlopp, CEO of the German bank, stated that implementing artificial intelligence will enable Commerzbank AG to save around €350 million each year. She stated during her address at Wednesday's annual shareholder meeting that the bank intends to allocate €600 million towards AI by 2030. The projected return on these investments is around €500 million each year, comprising 70% from cost...
Norway state company Statkraft plans $8.6 billion in energy investments over 10 years - 05/20/2026
According to the NTB news agency, Norway's state-owned energy firm Statkraft intends to invest around NOK 80 billion ($8.6 billion) over the next decade to upgrade power plants and construct wind farms within the nation. Two years back, the firm planned to assign NOK 44-67 billion for these objectives. Norway depends largely on hydropower, as over fifty percent of its electricity is produced by...
Elon Musk expects SpaceX IPO as soon as possible - 05/19/2026
Billionaire Elon Musk announced that he is making arrangements for a SpaceX initial public offering in the US, and the process is expected to start "rather soon." Musk is joining through videoconference at the Samson International Smart Mobility Summit happening in Tel Aviv, according to Bloomberg. Concerning his involvement in the summit virtually instead of attending in person, Musk mentioned...
Trump traded Nvidia and Boeing stocks in Q1 - 05/18/2026
US President Donald Trump executed multiple transactions of stocks and bonds in major US corporations valued at tens of millions of dollars or greater in the first quarter. Documents made public on May 14 revealed Trump's financial transactions to the US Office of Government Ethics. The holdings document, spanning more than 100 pages, details investment totals across a diverse array. Based on...
Blackstone, CD&R are considering buying ice cream maker Magnum - 05/18/2026
Investment companies Blackstone Inc. and CD&R are contemplating purchase of Magnum Ice Cream Co., an ice cream manufacturer that separated from Unilever fewer than six months ago, according to Reuters, referencing sources familiar with the situation. Sources indicate that investors are watching Magnum's stock price as they prepare to make a bid decision. Unilever finished the Magnum spinoff in...
Abu Dhabi's sovereign wealth fund L'imad is developing infrastructure investment project with partners - 05/15/2026
L'imad Holding, the sovereign wealth fund of Abu Dhabi, is collaborating with partners on a $30 billion infrastructure investment project. According to a joint statement, the project will include BlackRock's Global Infrastructure Partners (GIP) fund, Singapore's sovereign wealth fund Temasek, and the state-owned oil firm Abu Dhabi National Oil Co. (ADNOC). The collaborative initiative will...
eBay rejects GameStop's $56 billion acquisition bid - 05/13/2026
eBay has denied a proposal from video game retailer GameStop, headed by Canadian billionaire Ryan Cohen, due to worries regarding the deal's funding, according to Reuters. eBay Chairman Paul Pressler stated, "We have determined that the proposal lacks credibility and appeal." He mentioned that the firm believes that with the existing leadership, eBay is in a strong position to maintain...
SoftBank launches battery manufacturing business in Japan - 05/12/2026
Japanese conglomerate SoftBank Group is initiating a battery production venture in response to the surging electricity demand driven by the global AI boom. The telecommunications division of SoftBank Corp. revealed on Monday its plans to start producing battery and energy storage systems for the Japanese market in collaboration with South Korean battery manufacturer Cosmos Lab and AI firm DeltaX...
Saudi Aramco increases Q1 net profit by 25% - 05/12/2026
Saudi Arabian Oil Co. (Saudi Aramco) raised its net profit for Q1 2026 by 25% as oil prices surged due to the Middle East conflict. As per the company's report, net profit for the January-March period was $32.54 billion, in contrast to $26 billion for the equivalent period last year. Saudi Aramco's quarterly revenue rose 12% to $124.6 billion, fueled by increased oil and petroleum product...
