entrepreneurs
Have you heard about the website, Frank? It helped students apply for Federal student aid in under five minutes, usually taking hours, and the process has always been notoriously tricky. It turns out the whole scheme was a fraud, and Frank founder Charlie Javice, 31, is now facing 100 years of prison time after being sued by JPMorgan, the banking giant she sold the business to for $175 million in 2021. Javice was arrested on April 3 of this year but has been free on $2 million bail since her first court appearance on April 4. Last month, as per court records, she pleaded not guilty to bank fra...
IBTimes
Tesla shareholders voted in favour of Elon Musk's pay package at Thursday's annual meeting, following weeks of campaigning by the company. However, he will not receive the compensation immediately. Tesla shareholders endorsed a $45 billion pay package for Musk following a hard-fought vote of confidence. The result comes as the 52-year-old billionaire tycoon battles for the largest-ever executive compensation package awarded by a US publicly traded company. Musk Wins Shareholder Vote on $45 Billion Pay PackageBasking in the victory, Musk took the stage with a hearty, "Hot damn, I love you guys!...
IBTimes
Tesla shareholders are giving Elon Musk the green light on his $56 billion pay package, according to a social media post by Musk himself. This comes after a Delaware judge struck down the original plan. The compensation package, with a potential value of up to $56 billion, awards Musk stock options linked to Tesla achieving specific performance benchmarks. Despite prior criticism and opposition from prominent proxy advisors, shareholder approval signals a strong endorsement of Musk's leadership. The final results are slated to be announced only at a Tesla shareholder meeting held in Austin lat...
IBTimes
Eight former SpaceX employees filed a lawsuit against the company and CEO Elon Musk, raising concerns about a hostile work environment. The lawsuit alleges that Musk engaged in behaviour that objectified women and used lewd banter during their employment. The lawsuit further alleges that the employees were subjected to wrongful termination in 2022 as retaliation for raising concerns about a hostile work environment. According to the lawsuit filed in California, the employees documented their concerns in an open letter to SpaceX management. The suit alleges that Musk subsequently directed their...
IBTimes
For many Mexicans who migrated to the US, cleaning establishments is a dependable job to put food on the table but not typically seen as a promising career. However, for Cristobal Mondragon, a resident of Seattle and a devoted father of three, cleaning became his ticket to making his dreams a reality. By opening a comprehensive Airbnb cleaning service called Queen Bee, he transformed a modest venture into a multi-million-dollar enterprise. The Humble BeginningsOriginally from Michoacan, Mexico, Cristobal came to the United States in 2004, driven by the desire to create a better life for his fa...
IBTimes
Elon Musk just ignited a tech war, threatening to ban Apple devices over privacy concerns with their new AI features. Now fans are clamouring for a Tesla or X Phone alternative, raising questions about user trust and a potential new tech player. Elon Musk threatened Monday to ban Apple devices from his companies' premises if the iPhone maker moves ahead with its planned OpenAI integration. On Monday at Apple's annual Worldwide Developers Conference (WWDC), the company announced a major integration: OpenAI's ChatGPT will join forces with Apple's Siri assistant. Siri, in a showcased demo, sugges...
IBTimes
Ratifying Tesla CEO Elon Musk's $56 billion pay package in the upcoming shareholder vote on June 13 is unlikely to overturn a judge's prior decision to void the 2018 compensation plan. This is because the vote carries more symbolic significance than legal authority. Further complicating the issue, some individuals and organisations actively oppose Musk's substantial compensation package. Let's delve deeper into who these opponents are and their reasons for contesting Musk's substantial compensation package. 1) ISSLeading proxy advisor Institutional Shareholder Services (ISS), urged Tesla share...
IBTimes
LA Socialite and philathropist Rebecca Grossman was recently sentenced with 15 years to life in prison for fatally striking two young brothers in a hit and run incident that happened in Westlake Village, LA in the morning of Sept. 29, 2020. This, after making a desperate plea to consider "My pain, my recognition of the pain the Iskanders suffer, and the pain I watch my family endure, are punishments that I already suffer and will for the rest of my life." She was found guilty early this year of second degree murders of brothers Jacob, 8, and Mark Iskander, 11. According to a report, prosecutor...
IBTimes
Norges Bank Investment Management, which oversees Norway's sovereign wealth fund, is set to oppose Elon Musk's $56 billion pay package at Tesla's upcoming shareholder meeting. In a recently released statement, Norges Bank Investment Management acknowledged the value Musk's leadership has brought since the 2018 grant. Still, the fund is concerned about the award's total size, performance trigger structure, potential shareholder dilution, and the lack of measures to mitigate key person risk. Valued at $1.7 trillion, Norway's sovereign wealth fund ranks as the world's eighth-largest shareholder i...
IBTimes
Millionaire investment banker Jonathan Kaye was captured last Saturday via a surveillance camera striking a woman in the face via a vicious right hook and knocking her to the ground. The incident, which happened in one of the streets of New York, spread over social media via an unknown victim who posted it on X, saying, "This guy punched me in the face today and broke my nose and busted up my friends arm, can anyone find him?" Kaye, the Managing Director of leading investment firm Moelis & Company, is a resident of NYC in the Park Slope neighbourhood, where his $4 million, four-bedroom townhou...
IBTimes
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