Elon Musk, the founder of Tesla and SpaceX, once again topped the list of the world's wealthiest individuals, according to Bloomberg’s $ 187.1 billion estimate of his wealth. He outperformed Louis Vuitton Moet Hennessy company’s President Bernard Arnault ($185.3 billion). The agency attributed this to a roughly 70% increase in Tesla's stock price since the year's beginning. Due to lower prices,...

As part of a recent strategy shift, Wells Fargo & Co. laid off hundreds of mortgage bankers this week. CNBC reported on this on Wednesday, citing informed sources. Some of the most successful professionals, who had more than $100 million in loans in their accounts the previous year, and some employees who went to an internal sales conference for high-performing professionals were allegedly...

Due to a steep decline in the value of the company's stock, salaries at online retailer Amazon will fall 15 to 50% short of expectations in 2023, according to sources with knowledge of the matter. Amazon pays a sizable amount of its employees' yearly salary in restricted shares, and a sustained decrease in the value of the company's stocks will result in 2023 salaries 15 to 50% below those...

Elon Musk declared on Wednesday at the World Government Summit in Dubai that he hopes to choose a new CEO of Twitter by the end of the year. "I believe I must first stabilize the company and then just make sure it has a solid financial foundation. I think a good moment to select a new CEO for the business would be close to the end of this year," the entrepreneur stated. Musk announced his...

The Taiwan-based shipping firm Evergreen Marine gave its staff an annual incentive equivalent to 50 monthly salaries. Evergreen tripled its 2020 level and increased its gross sales to $20.7 billion annually, up nearly 30% from 2021. According to the company, the annual bonus has occasionally exceeded 52 monthly salaries. For instance, some staff reportedly earned a $65,000 bonus on December 30...

According to Forbes USA, the wealthiest crypto-entrepreneurs have collectively lost nearly $116 billion since March. 15 of the 17 wealthiest people have lost more than half of their wealth, and three have lost everything. According to estimations by U.S. Forbes, the aggregate wealth of the 17 biggest billionaires who became rich on cryptocurrencies decreased by nearly $116 billion in the nine...

In the final months before to Robert Iger's appointment as the new CEO of the corporation, Walt Disney collaborated with the consulting firm McKinsey & Co. The experts suggested consolidating authority over significant financial decisions made outside of the creative departments. The Walt Disney Company was planning for a reorganization based on recommendations from the consulting company...

Kraken is the third-largest cryptocurrency exchange in the world by trading volume. It will let go of almost 30% of its workforce. The company blamed the upcoming layoffs on the weakened cryptocurrency marketplaces that have emerged since FTX's demise. Kraken, the third-largest cryptocurrency exchange in the world by trading volume, will reduce its workforce by around 30%. (1,100 people), wrote...

Due to a broad downturn in the stock market and a slowdown in economic activity, some significant U.S. corporations have altered the method they award top management bonuses in order to prevent them from suffering significant financial losses, says The Financial Times. Western Digital, a manufacturer of hard drives, reported that CEO David Goeckeler received $32 million in bonuses and pay this...