Latest news with #Musk-owned
Yahoo
2 days ago
- Automotive
- Yahoo
Musk Dismissed Longtime Aide Afshar From Tesla, Reports Say
Tesla CEO Elon Musk reportedly fired his longtime aide Omead Afshar after sales in the EV maker's key markets slumped this year. The departure comes after Musk announced his intent to refocus on his companies following a backlash to his political activities. Shares of Tesla have lost roughly a fifth of their value since the start of the (TSLA) CEO Elon Musk has reportedly fired his longtime aide Omead Afshar after sales in the EV maker's key markets slumped this year. Afshar, Tesla's head of operations in North America and Europe, was let go 'amid declining sales in both regions and the electric vehicle brand's falling popularity,' Forbes reported, citing people familiar with the matter. Afshar couldn't immediately be reached for comment. He posted on X on Monday praising Musk following last weekend's robotaxi launch in Austin, Texas. 'Thank you, Elon, for pushing us all!' he wrote on the Musk-owned social media platform. The Forbes report of Afshar's termination follows a Bloomberg report that the executive, who was promoted last year, had 'left' the firm. The report also said that Jenna Ferrua, Tesla's director of human resources for North America, had left. Milan Kovac, the head of engineering for the company's Optimus humanoid robot program, left the company recently as well, according to Bloomberg. Tesla didn't immediately respond to an Investopedia request for comment. The departures come after Musk announced his intent to refocus on his companies following a backlash to his role leading the Trump administration's cost-cutting Department of Government Efficiency, or DOGE. The company is also grappling with a slump in global deliveries, with declining sales in Europe and China, which are key markets, and a fleet of older vehicles. Tesla shares, which entered Friday down almost 20% this year, were up about 1% in recent trading. CORRECTION—This article has been updated since it was first published to reflect Afshar posted on X Monday. Read the original article on Investopedia Sign in to access your portfolio
The Hill
2 days ago
- Business
- The Hill
Former DOGE aide ‘Big Balls' returns to government
Teen tech wunderkind Edward Coristine, a former Department of Government Efficiency (DOGE) aide known as 'Big Balls,' is now working at the Social Security Administration (SSA), the agency confirmed Friday. 'Edward Coristine joined the Social Security Administration this week as a Special Government Employee,' SSA spokesman Stephen McGraw said in a statement to The Hill. 'His work will be focused on improving the functionality of the Social Security website and advancing our mission of delivering more efficient service to the American people.' The White House had confirmed to The Hill this week that Cortisine, whose 'Big Balls' nickname comes from the moniker he has used online, resigned from his DOGE position. After President Trump and tech billionaire Elon Musk's explosive fallout earlier this month over the GOP megabill, Rep. Jared Moskowitz (D-Fla.) and other critics cracked jokes about who would get 'custody' of the 19-year-old technologist with the notable online alias. The Tesla CEO had brought Coristine to the federal government to serve on the advisory committee tasked with cutting federal spending and eliminating waste in the government. 'Now that the national divorce is happening … who's gonna get 'Big Balls'?' Moskowitz asked during a House Oversight and Government Reform Committee hearing. 'I'm worried about him. The children always get caught in the middle.' Musk's time as a special government employee lapsed at the end of May. Other DOGE aides also stepped down at that time. Coristine's account on the Musk-owned social platform X (@edwardbigballer) is now set to private. Wired reported that multiple sources told the tech-focused outlet that he has been working this week at the SSA's headquarters near Baltimore and was spotted at the cafeteria there Monday. 'Coristine looked nervous, almost embarrassed,' an unnamed SSA source told the tech outlet.
Engadget
3 days ago
- Automotive
- Engadget
Elon Musk reportedly fired a key Tesla executive following another month of flagging sales
Elon Musk has reportedly fired Omead Afshar, Tesla's head of manufacturing and operations in North America and Europe, according to Forbes . Both CNBC and Bloomberg corroborated the report. Afshar's exit follows Milan Kovac, the head of engineering on Tesla's Optimus robot, who left the company in early June. Afshar was promoted to the role last year, Bloomberg reports, after working for multiple different Musk-owned companies since 2017. The timing of his exit isn't particularly surprising given the trouble Tesla has faced selling cars. Sales in Europe have shrunk for a fifth consecutive month and the European Automobile Manufacturers' Association reports that registrations of new Teslas dropped by nearly 41 percent in May. The company is also struggling in China, where sales fell 15 percent in the same month. While Musk appears to be holding Afshar responsible, the blame clearly lies at Musk's feet. Helping to fund President Donald Trump's re-election in the US, running the destructive DOGE cost-cutting efforts after his election and just generally maintaining a noxious public presence have permanently tainted Musk and his companies. While SpaceX still benefits from government contracts, Tesla's sales are vulnerable to public opinion, something the Tesla Takedown movement has been leveraging to its advantage with protests outside of the company's dealerships. Firing Afshar, leaving his position in the US government and launching Tesla's robotaxi service in Austin are all different attempts from Musk to change the narrative around Tesla. It's not clear yet whether they'll actually help.
Yahoo
4 days ago
- Business
- Yahoo
Why Media Matters' lawsuit against the FTC is likely to be important
One of the more unsettling developments of Donald Trump's second term involves the number of investigations that have been launched against Democrats and organizations affiliated with progressive politics. That includes Media Matters, a media watchdog organization, which found itself facing a Federal Trade Commission probe in late May. This week, as The New York Times reported, the group pushed back — in court: Media Matters, a liberal advocacy organization, sued the Federal Trade Commission on Monday, claiming that the agency was waging a 'campaign of retribution' against the group on behalf of the Trump administration and Elon Musk. ... Media Matters said in its lawsuit that the Federal Trade Commission had employed 'sweeping governmental powers to attempt to silence and harass an organization for daring to speak the truth.' Media Matters' filing argued that the FTC's tactics were intended to restrict the organization's First Amendment rights, and it asked a federal court in Washington, D.C., to block the federal probe. Angelo Carusone, Media Matters' president, said in a statement, 'The Trump administration has demonstrated that it will not hesitate to abuse the powers of the federal government to undermine the First Amendment and stifle dissent. This highly politicized FTC investigation is part of that playbook. This is a significant free speech issue, and Media Matters will not back down from this fight. If the Trump administration is allowed to use this unlawful investigation to punish legitimate reporting on behalf of a political ally, then there is nothing to stop it from targeting anyone who stands up and exercises their rights.' For its part, the FTC hasn't commented, but we have a sense of the agency's perspective. Indeed, when the commission opened its investigation last month, the Times reported that the FTC's letter to Media Matters said it was exploring whether the organization 'illegally colluded with advertisers.' And this appears to be the heart of the matter. Trump's top campaign donor, Elon Musk, first sued the progressive media watchdog a couple of years ago, raising similar allegations, accusing Media Matters of playing a role in advertisers steering clear of the Musk-owned social media platform. It was against this backdrop that the Trump administration not only launched an investigation into the group but also asked Media Matters to turn over all the documents related to Musk's litigation. I won't pretend to know where all of this is headed, but it's a case worth watching. This post updates our related earlier coverage. This article was originally published on
Daily Tribune
19-06-2025
- Business
- Daily Tribune
India grants licence to Musk's Starlink
India New Delhi had granted a licence to Elon Musk's Starlink satellite internet service, opening India's 'next frontier of connectivity', according to the country's communications minister. The launch of Starlink, which provides high-speed internet access to remote locations using low Earth orbit satellites, has sparked fierce debate in India over issues ranging from predatory pricing to spectrum allocation. Communications minister Jyotiraditya Scindia said he held a 'productive meeting' with Gwynne Shotwell, president and chief operating officer of Starlink owner SpaceX. Shotwell 'appreciated the license granted to Starlink, calling it a great start to the journey', the minister said late Tuesday on Musk-owned social media platform X. It follows two of India's biggest telecom service providers -- Jio Platforms and its rival Bharti Airtel -- in March announcing deals with SpaceX to offer Starlink internet to their customers. SpaceX owner Musk has butted heads with Asia's richest man and Jio Platforms owner Mukesh Ambani over how the satellite spectrum should be awarded. While Musk's business interests in India are currently limited to X, the tech mogul's electric vehicle maker Tesla is preparing its entry into the country.
