• Elon Musk says he's been supporting Dogecoin in response to people who are 'not that wealthy' asking him to do so

    5 days ago - By Business Insider

    Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington, Monday, March 9, 2020. Susan Walsh/AP
    Elon Musk says he backs Dogecoin because people who are "not that wealthy" asked him to do so.
    Dogecoin and other cryptocurrencies have plummeted in recent weeks.
    Musk has been sued for $258 billion by a plaintiff accusing him of engaging a "pyramid scheme by way of dogecoin cryptocurrency."
    Elon Musk is a vocal supporter of Dogecoin, and now he has explained exactly why he backs the cryptocurrency. Speaking at the Qatar Economic Forum on...
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  • Tesla soars 12% as CEO Elon Musk confirms workforce reduction of 3.5% and says demand for its electric vehicles is 'extremely high'

    5 days ago - By Business Insider

    Elon Musk. Patrick Pleul/picture alliance via Getty Images
    Tesla shares shot up Tuesday as CEO Elon Musk told Bloomberg that demand for its EVs are "extremely high."
    Musk made his comment as the company is in the process of laying off workers.
    Job cuts of 10% of salaried workers means Tesla will reduce its total workforce by up to 3.5%, he said.
    Tesla stock jumped Tuesday as CEO Elon Musk in an interview with Bloomberg touted the electric vehicle maker's competitiveness while also clarifying the company's job cuts. Shares climbed as much as 12% to $728.50, the highest price since June 9...
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