Musk’s small-investor army cheers approval of $56 billion Tesla pay package

Elon Musk’s army of small-investor allies took a victory lap on Thursday as the Tesla (NASDAQ:TSLA) CEO won a critical shareholder vote for his $56 billion pay package despite opposition from major institutions. Mom-and-pop investors, who hold an unusually high share of the electric-vehicle maker, are typically apathetic toward voting. But in an unusual show of […]

Ackman’s Pershing Square raises $1.05 bln in stake sale ahead of potential IPO

Billionaire Bill Ackman’s Pershing Square Capital Management has raised $1.05 billion by selling 10% stake in the hedge fund to a consortium of institutional investors and family offices, it said on Monday. The sale is a precursor to a potential initial public offering that could happen next year or in 2026. Investors are valuing the firm at […]

Steve Cohen is set to make a big push into investing in AI

Billionaire investor Steve Cohen’s Point72 plans to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom, according to a person close to the firm’s plans. The new long/short equity fund, to be launched later this year or early 2025, will be focused on AI and AI-related hardware, the person said. The firm is […]