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Elon Musk is headed back down to Earth.The richest person in the world is no longer a trillionaire after Tesla and SpaceX share prices plunged during Tuesday’s global stock sell-off. He is now worth $957 billion, according to Bloomberg’s Billionaires Index.Musk became a trillionaire earlier this month, moments after SpaceX’s historic initial public offering valued the rocket company at more than $2 trillion. The stock rallied for days, with retail investors eager to get in on the company’s sci-fi-like promises.But this week, SpaceX’s stock has plummeted. Shares closed around $156 on Tuesday, down more than 30% from an intraday peak…

Exterior view of the U.S. Supreme Court Building on June 22 in Washington, D.C. Anna Moneymaker/Getty Images hide caption toggle caption Anna Moneymaker/Getty Images The Supreme Court ruled Tuesday that a Louisiana prisoner whose dreadlocks were forcibly shaved off by prison guards cannot sue the guards for money damages under a federal law enacted by Congress to protect the religious rights of prisoners. The vote was 6-to-3, with the court’s conservative supermajority prevailing. There is little dispute about the facts of the case. Damon Landor, a Rastafarian, had only three weeks left on his sentence when he was transferred to…

A FedEx delivery van on May 27,2026 in London, England. Peter Dazeley | Getty ImagesFedEx on Tuesday reported earnings that beat Wall Street expectations on the top and bottom lines.The earnings report marked the last quarter that includes the company’s freight business, which spun off into a separate publicly traded company called FedEx Freight on June 1. The company said FedEx Freight paid a cash dividend of roughly $4.1 billion to FedEx Corporation in connection with the spinoff.Shares of FedEx dipped roughly 4% in extended trading.Here’s how the company performed in its fiscal fourth quarter compared with what analysts were…

Brian Rolapp, CEO of the PGA TOUR, speaks, during an announcement of a new competitive model to the PGA TOUR, prior to Travelers Championship at TPC River Highlands on June 23, 2026 in Cromwell, Connecticut.Ben Jared | PGA Tour | Getty ImagesGolf fans are finally getting details on a new chapter for the PGA Tour that’s designed to elevate competition and raise payouts for winners. PGA Tour CEO Brian Rolapp unveiled the new competitive model for professional golf’s premier circuit ahead of the Travelers Championship taking place this week outside of Hartford, Connecticut. Rolapp has prioritized modernizing the Tour since…

Want to be a successful marketer today? Think more about risk-taking, less about AI.Top marketing executives argue that ditching the traditional “brand safety” approach in favor of authenticity, moving fast, and taking creative risks are the only ways to survive in a fragmented digital world. American Express’ Elizabeth Rutledge said having an in-house agency provided key perspective.  Camille Kermarrec for Business Insider Execs from Duolingo, Gap, and American Express spoke Tuesday on a panel at Business Insider’s annual CMO Insider Breakfast at Cannes, which had support from founding sponsor BCG, supporting sponsor PayPal, and contributing sponsor LinkedIn.Taking big swingsDuolingo’s Manu…

The US economy is especially vulnerable to a stock market correction, KPMG chief economist Diane Swonk warned.High earners have been a pillar of the economy in recent years, with the AI trade driving the stock market to fresh record highs and enhancing the so-called wealth effect for many. The bull market has intensified the K-shaped economy since the top cohort of consumers have more wealth tied to the market.”We have built up a mountain of wealth that is highly concentrated,” Swonk explained.”Will that historic pattern hold if financial markets correct or is the cushion large enough to blunt the blow?…

Pinterest is a search engine — and its CEO wants advertisers to know it.Bill Ready, who joined the company as CEO in 2022 from Google, told Business Insider’s editor in chief, Jamie Heller, that Pinterest sees more than 80 billion searches a month.”Those searches are primarily visual,” Ready said, adding that “more than half of those are commercial.”The interview took place at Business Insider’s annual CMO Insider Breakfast, with support from founding sponsor BCG, supporting sponsor PayPal, and contributing sponsor LinkedIn.Pinterest has become a digital mall of sorts, with products and brands placed strategically in the feed. While not every…

Claude Code creator Boris Cherny has a message for companies that are nervous about their AI token budgets.”ROI is absolutely the right framing because you don’t want to just think about cost because you kind of spend something on it and you get something back,” Cherny said during a recent fireside chat at Scale AI.Jesse Chen, Meta’s director of product management who moderated the chat, asked the Anthropic employee directly about the recent concerns raised by Uber COO Andrew Macdonald about whether the rideshare giant’s AI spending was leading to enough of a return to justify the rising cost of…

At Match Group, every employee now has an AI budget.The parent company of Tinder, Hinge, and other dating apps recently began giving department heads a set amount to spend on AI, which is then distributed across their teams. Employees can track their usage on a dashboard, and if they want to exceed their budget, they have to explain why. The company’s most expensive AI models also aren’t available by default and require a specific use case.”If you don’t set guardrails, there’s no reason for an engineer to not go use the most expensive model,” said Match Group CFO Steve Bailey.…

A popular way to get started in real estate investing is by buying a rental property. After finding and closing on a deal, investors place a tenant and ideally collect more in rent than they owe each month on the mortgage and expenses. Whatever is left over is cash flow.It can be a lucrative income stream, but real estate investors are upfront about one caveat: It’s not passive. Owning rentals means dealing with tenant turnover, maintenance requests, vacancies, repairs, and, in some cases, evictions.That’s why some experienced investors are using rentals as a launching pad. Once they’ve built capital and…