Forbes Daily: Tesla Shares Slide After Making Its Flying Car Debut
Google co-founder Sergey Brin has spent more than anyone fighting California’s proposed billionaire wealth tax, and won’t even be able to vote on it.
Brin purchased a $42 million mansion on the Nevada side of Lake Tahoe in December, becoming a resident of the Silver State and changing his voter registration, public records obtained by Forbes show. Fellow Google co-founder Larry Page changed his residency from California to Florida, his spokespeople confirmed—part of a recent exodus of billionaires from the Golden State.
The wealth tax’s opposition campaign spent more than $1 million a day during the first half of September, and polls show the ballot initiative is becoming less popular with voters.
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France is reeling from its largest day of mass protests in years on Saturday, where demonstrations against poor conditions in French schools and rising costs of living eventually turned violent, leading to rioting, arson and thousands of arrests.
Shares of AI infrastructure provider CoreWeave sank 12%, continuing a 24% selloff over the last five days of trading, despite Nvidia CEO Jensen Huang saying he was “optimistic” about the firm. (More on CoreWeave below.)
Where markets closed (10/16): All three indexes ended Friday in the red, with the S&P 500 down 1.1%, the Nasdaq falling 2.1% and the Dow Jones Industrial Average slipping 0.3%. The declines were driven by losses in AI stocks and rising oil prices.
Despite an initial boost Friday morning, Tesla shares shrugged off the debut of its “flying” car, sinking 2% by the end of the day. The company’s new-generation Roadster model is equipped with SpaceX technology, allowing the car to launch, flip and maneuver in........
