What does Elon Musk do with all his money? Tesla boss Elon Musk has been one of the world's richest people for several years now, and that wealth recently went stratospheric when he became the first half-trillionaire. Despite this, Musk has insisted he leads a largely unglamorous lifestyle. He said in 2021 that he lived in a Texas home valued at $50,000 (£38,000). His former partner Grimes, with whom he has two children, told Vanity Fair in 2022 he does not live the extravagant life of excess luxury many assume.

Why human-shaped robots loom large in Musk's Tesla plans It has appeared in Tesla showrooms, on its factory floors and has even posed with Kim Kardashian. But Elon Musk's vision for his human-like robot Optimus is much grander than that. Since first unveiling it at a Tesla showcase in 2022, the tech billionaire has suggested his company's droid could play a huge role in the homes and lives of people all over the world. Along with self-driving robotaxis and Cybertrucks, Musk believes Tesla robots are key to establishing a foothold in the artificial intelligence (AI) landscape. And investors who signed off on his $1tn (£760bn) pay package on Thursday would appear to agree .

Elon Musk's $1tn pay deal approved by Tesla shareholders Tesla shareholders have approved a record-breaking pay package for boss Elon Musk that could be worth nearly $1tn (£760bn). The unprecedented deal was approved by 75% of Tesla shareholders who cast votes at the firm's annual general meeting on Thursday. The deal requires Musk, who is already the world's richest man, to drastically raise the electric car firm's market value over a period of years. If he meets various targets, he will be rewarded with hundreds of millions of new shares. The scale of the deal is controversial, but the Tesla board argued that Musk might leave the company if it was not approved - and that it could not afford to lose him.

Has Elon Musk really been awarded a $1 trillion pay deal? Tesla shares jumped 6 percent on Monday after CEO Elon Musk disclosed that he had bought $1bn worth of the company's stock. The move reinforces Musk's push for greater control over Tesla and comes a week after the company's board offered him a $1 trillion pay package over the next decade. Musk's stock purchase - his first open-market buy-up of shares since 2020 - comes at a critical time for Tesla, as it races to transform into an artificial intelligence and robotics firm whilst also grappling with falling sales of electric vehicles (EVs). Last weekend, Pope Leo decried the widening pay gap between corporate bosses such as Elon Musk - whose estimated wealth now stands at $367bn - and ordinary working people, which he said was a major factor in growing global unrest.

Elon Musk has won back his 44.9bn pay package at electric carmaker Tesla after shareholders voted to restore the compensation deal in a ringing endorsement of his leadership. The vote at Tesla's annual meeting on Thursday came after a judge in the US state of Delaware threw out the deal after finding that the company's board was too close to Musk and had not protected shareholders' interests. "I just want to start off by saying, hot damn, I love you guys!" a jubilant Musk said as he appeared on stage after the vote. "We have the most awesome shareholder base. I mean it's just incredible."

An academic who created an app which harvested data from 50 million Facebook users says he has been made "a scapegoat" for Facebook and UK firm Cambridge Analytica. Dr Aleksandr Kogan completed work for Cambridge Analytica in 2014, but said he had no idea the data would be used to benefit Donald Trump's US presidential campaign. Facebook says Dr Kogan violated the site's policies. Last night, Alexander Nix, the chief executive of Cambridge Analytica, was suspended, having been secretly filmed by Channel 4 News appearing to suggest the company could use tactics to discredit politicians online. The company says the programme "grossly misrepresented" Mr Nix's conversation.