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Elon Musk's AI company, xAI, is expanding into video game development, seeking candidates with game design experience.
On Thursday morning, Musk shared a post on X from the account @techdevnotes that read, "xAI is Hiring for Video Games," with Musk responding, "True."
Musk signaled interest in game development last year, writing on X: "Too many game studios are owned by massive corporations. @xAI is going to start a new game studio to make games great again!"
Musk founded xAI in 2023 with the goal of "understanding the true nature of the universe." The company has developed the Grok chatbot and partnered with X to power the conversational AI on the platform.
HOLLYWOOD TURNS TO AI TOOLS TO REWIRE MOVIE MAGIC
Musk faces competition in the growing AI gaming market. Microsoft's Xbox is working with Inworld AI on multiyear projects, Nvidia is pushing its ACE for Games system to create AI-driven digital humans, and Roblox has rolled out its generative AI tool, Roblox Cube, to assist developers in creating games.
Julian Togelius, co-founder and research director at modl.ai and associate professor at New York University, said that using generative AI in game development is a game-changer, but also requires human oversight.
GROK AI IS NOW PART OF NEW TESLA VEHICLES
"A hybrid model that combines human judgment with assisted automation can optimize outcomes and mitigate risks," Togelius said.
The move into game development comes as xAI expands its footprint, including a federal contract with the U.S. General Services Administration to provide artificial intelligence services to government agencies.
NVIDIA DEBUTS 'MORE INTELLIGENT' AI-POWERED ROBOTS; TRULY SELF-RELIANT BOTS 'FURTHER OUT'
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The global video game market is projected to surpass $600 billion by 2030, with AI increasingly used in story design, character behavior, and world-building, according to Grand View Research.

via: https://www.foxbusiness.com/fox-news-tech/elon-musks-xai-hiring-video-game-developer

BMW is recalling more than 145,000 vehicles in the U.S. over a starter defect that could overheat and spark a fire, the National Highway Traffic Safety Administration (NHTSA) announced. 
The latest recall comes just days after nearly 200,000 cars were recalled for a similar issue.
The NHTSA warned that engine protection material near an overheated starter could ignite. The new notice was publicized on Wednesday, Reuters reported.
"After repeated attempts, the starter motor may overheat from an electrical overload," the NHTSA said. "An overheated starter motor can ignite nearby combustible material in the engine compartment, increasing the risk of a fire."
BMW RECALLS NEARLY 200K VEHICLES DUE TO FIRE RISK, SAYS OWNERS SHOULD PARK OUTSIDE
"If this occurs, occupants may see or smell smoke while driving or when leaving their vehicle," the recall report added.
The auto safety regulator said the notice affects certain 2019-2025 vehicles across six models.
"BMW of North America, LLC (BMW) is recalling certain 2020 340I, X6, 2020-2025 840I, 2020-2022 740LI, 2019-2020 X7, and X5 vehicles," the NHTSA said. 
800,000 VW ELECTRIC VEHICLE OWNERS' DATA EXPOSED BY SOFTWARE BUG 
BMW dealers will replace the engine starter with a different design free of charge, NHTSA said. 
The company is currently accelerating shipment of replacement parts to address the recall, a BMW spokesperson told FOX Business on Thursday.
"BMW is currently expediting limited batches of necessary parts to its authorized service centers, with deliveries beginning at the end of this month," the BMW spokesperson said. "Owners of affected vehicles will be notified once the required materials are available and will then be advised to contact their preferred dealers to schedule a no-cost repair." 
FEDERAL AGENTS ARREST HUNDREDS AT HYUNDAI PLANT CONSTRUCTION SITE IN GEORGIA
Owner notification letters are expected to be mailed on Nov. 17, 2025. Vehicle owners may contact BMW customer service at 1-800-525-7417. Affected Vehicle Identification Numbers will be searchable on www.nhtsa.gov starting Nov. 17, 2025. Drivers may also contact the NHTSA Vehicle Safety Hotline at 1-888-327-4236.
The safety regulator noted that BMW had not received any reports, nor is the company aware of any accidents or injuries related to this issue at the time of the notice.  
Last Friday, the NHTSA recalled over 196,000 U.S. vehicles over a similar engine starter issue that could overheat, short-circuit and increase the risk of fire.  
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Owners of the affected vehicles were advised to park outdoors, as the fire risk exists whether the cars are being driven or not.
Reuters contributed to this report.

via: https://www.foxbusiness.com/lifestyle/bmw-issues-second-recall-defects-linked-fire-risk-bringing-total-affected-vehciles-over-34100

Mortgage rates rose this week, mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage increased to 6.34% from last week's reading of 6.3%. 
The average rate on a 30-year loan was 6.12% a year ago.
NEARLY 1 IN 5 AMERICAN HOMES SLASH PRICES AS BUYERS GAIN UPPER HAND IN SHIFTING MARKET
"The 30-year fixed-rate mortgage increased again this week but remains below its 52-week average of 6.71%," said Sam Khater, Freddie Mac's chief economist. "The last few months have brought lower rates and as indicated by the recently reported increase in pending home sales, homebuyers are feeling more confident to get into the market."
TREASURY'S BESSENT SAYS FIXING HOUSING AFFORDABILITY CRISIS WILL BE ONE OF HIS 'BIG PROJECTS' THIS FALL
The average rate on the 15-year fixed mortgage climbed to 5.55% from last week's reading of 5.49%.
One year ago, the rate on the 15-year fixed note averaged 5.25%.
ONLY 28% OF US HOMES NOW AFFORDABLE FOR TYPICAL AMERICAN HOUSEHOLD AS BUYING POWER DROPS
Lower mortgage rates have pulled homebuyers back into the market. Data released this week from the National Association of Realtors showed pending home sales, based on signed contracts, increased 4% in August. Analysts polled by LSEG expected a 0.2% increase.
Mortgage rates, which track 10-year Treasury yields, are expected to stay in a tight range as markets weigh the implications of the government shutdown, Realtor.com senior economist Jiayi Xu said.
"The timing of this disruption is particularly sensitive, coming just after the Federal Reserve cut policy rates for the first time in nine months," she said.
"The longer the shutdown drags on, the greater its potential influence on markets and monetary policy decisions will be," Xu added.
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Growing uncertainty, Xu said, could lead prospective buyers to delay home sales, especially in metros that have a higher share of federal workers.

via: https://www.foxbusiness.com/economy/mortgage-rates-october-2-202

Maxwell House is changing its name for the first time in its 133-year history.
The coffee brand, owned by Kraft Heinz, will temporarily be renamed "Maxwell Apartment," a move it said it made "to meet the needs of today's consumer."
"In a time where value matters now more than ever, Americans seek value in areas of their everyday, including where they live," Kraft Heinz said in a press release.
THAT LATTE OR CAPPUCCINO COULD GET MORE EXPENSIVE AS COFFEE PRICES CONTINUE TO RISE
Nearly one-third of Americans chose to rent their homes versus purchasing, according to data from the Census Bureau. The median asking rent in the 50 largest U.S. metro areas was just more than $1,700, according to Realtor.com data.
"Two-thirds of American adults drink coffee every day, which can add up quickly, especially these days," said Holly Ramsden, Head of Coffee, North America at Kraft Heinz.
The brand is offering a 12-month "lease" on coffee, which it says is designed to keep java lovers stocked with a year's worth of coffee.
Fans can get four 27.5-ounce canisters of Maxwell House Original Roast Ground Coffee for $39.99. One 27.5-ounce canister costs $12.99 on Amazon.
STARBUCKS CEO SAYS COFFEE CHAIN IS 'AHEAD OF SCHEDULE' IN MAJOR TURNAROUND EFFORT AFTER ONE YEAR
The deal comes as Americans are paying more for their coffee as prices for the caffeinated commodity are near record levels due to global production headwinds and higher costs from imported coffee exposed to tariffs.
The most recent edition of the consumer price index (CPI) released by the Bureau of Labor Statistics showed that coffee prices were up 20.9% from a year ago in August and rose 3.6% on a monthly basis. That's the highest annual price gain reported in the data series since a 21.2% reading in July 2011.
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Prices for subgroups of coffee rose to a similar degree, with the BLS reporting that roasted coffee prices were up 21.7% year-over-year and 4.1% on a monthly basis in August, while the cost of instant coffee was up 20.1% from a year ago and 4.9% from the prior month.

via: https://www.foxbusiness.com/lifestyle/coffee-icon-changing-its-name-first-time-133-year

Leading health insurers announced Wednesday that they will scale back their Medicare Advantage offerings next year as the health insurance industry braces for decreases in government reimbursement.
The U.S. government has been cutting back payments on Medicare Advantage since 2024 to reduce spending. Medicare Advantage is a privately-run insurance program that serves people aged 65 and above as well as those with disabilities.
CVS Health's Aetna insurance business said its prescription drug plans will be available in 100 fewer counties than what is available in 2025, while Humana will scale back the availability of its plans to 85% of counties, down from 89% this year. UnitedHealth said it will stop operating in 109 counties, which will affect about 180,000 people.
UnitedHealth manages the largest Medicare Advantage business, while Humana ranks second and CVS Health's is the fourth-largest.
UNITEDHEALTH CONFIRMS SWEEPING DOJ PROBE INTO MEDICARE BILLING, VOWS COMPLIANCE
Insurers have said that higher-than-expected usage of medical services in their Medicare businesses has prompted the moves to exit less profitable markets, while they're also receiving fewer payments from Medicare related to patients' health conditions.
"The combination of (Centers for Medicare and Medicaid Services) funding cuts, rising healthcare costs and increased utilization have created headwinds that no organization can ignore," said UnitedHealth's Bobby Hunter, who runs the company's government programs, in a Tuesday press briefing.
CVS CAREMARK DROPS COVERAGE OF POPULAR WEIGHT LOSS DRUG
The leading insurers are also exiting some states altogether as they confront reduced government compensation and increased costs from rising use.
Humana will provide plans in 46 states in 2026, down from 48 this year. Aetna is set to offer plans in 43 states and 2,159 counties next year, down from 44 states and 2,259 counties this year.
MEDICARE ADVANTAGE PLANS MAY COVER THINGS LIKE PET FOOD, GOLF FEES AND SKI PASSES
Insurers are also changing their plan offerings. Humana intends to offer new plan types in four states in 177 counties, and 83% of its standalone prescription drug plans in 2026 will have decreased premiums.
CVS Health plans to expand its offerings for people who qualify for both Medicare and the Medicaid program for low-income Americans to 16 new states.
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Hunter said that UnitedHealth's decision to shut down over 100 plans will affect about 600,000 members who are largely enrolled in preferred provider organizations or those that give members an option to see providers outside a plan network.
Reuters contributed to this report.

via: https://www.foxbusiness.com/economy/major-health-insurers-scaling-back-medicare-advantage-offerings-202

A partial government shutdown began on Wednesday with Republicans and Democrats at an impasse over spending levels, which has increased uncertainty over economic conditions and how financial markets will react.
It's unclear when lawmakers will reach a compromise that allows them to end the shutdown, but experts anticipate that financial markets will be relatively unfazed by the dysfunctional funding of the federal government in the meantime.
Adam Turnquist, chief technical strategist for LPL Financial, said in a note that while the shutdown "introduces a new layer of uncertainty for markets," he explained that "they have historically been short-lived and, as a result, have had minimal impact on the economy."
"Investors have generally looked past budget-related disruptions, prioritizing corporate earnings, broader economic trends, and other key macroeconomic factors," Turnquist said. 
FED'S GOOLSBEE SAYS CENTRAL BANK HAS OTHER DATA OPTIONS IF SHUTDOWN DISRUPTS ECONOMIC REPORTS
Turnquist explained the U.S. has experienced 20 shutdowns in the last 50 years and noted that the average drawdown during a shutdown has only been -1.6%, with the worst drawdown being a -6.1% pullback in 1979. 
He said during the longest-ever shutdown, which spanned 35 days from December 2018 to January 2019, the S&P 500 rallied over 10% as the Federal Reserve adjusted its policy, calling it a "great example of how macro factors matter more to markets than short-term political turmoil."
Turnquist added that after past shutdowns had concluded with the enactment of a budget resolution, the "average one- and three-month returns for the S&P 500 were 1.2% and 2.9%, respectively."
A GOVERNMENT SHUTDOWN IS LOOMING: HOW DOES IT IMPACT THE ECONOMY?
Bret Kenwell, U.S. investment analyst for eToro, said in a note that investors "have learned to largely tune out shutdown drama, viewing it as political posturing rather than a fundamental market risk," though he noted that the market may view a short shutdown differently from a protracted disruption.
James McCann, senior economist at Edward Jones, said in a note that there could be "heightened market volatility as seasonal factors combine with an already uncertain macro backdrop." He added that while the dollar and U.S. government bonds have typically seen a boost during past shutdowns, but said that "market fatigue around ongoing political dysfunction may dampen that response this time around." 
FED PRESIDENT WARNS INFLATION IS 'GOING THE WRONG WAY' AS TARIFF CONCERNS MOUNT
He also noted that there may be some disruptions to government services that impact parts of the economy.
"During past shutdowns the Small Business Administration ceased some of its lending and investment programs, denying important financing for small businesses and limiting their ability to hire or invest. Similarly, the time taken for approval on infrastructure projects will rise, causing costly delays," McCann said. 
"We know hiring is unusually weak in the U.S. economy right now and these disruptions could make it harder for those Americans out of work to find a new job in coming weeks," he added.
FIRST BIPARTISAN SHUTDOWN NEGOTIATIONS SURFACE ON CAPITOL HILL AFTER FUNDING BILL BLOCKED AGAIN
Anthony Esposito, CEO of AscalonVI Capital, told FOX Business that the benchmark S&P 500 index has risen on a net basis during the past 10 shutdowns, including the current federal funding lapse. 
He said that "on a net basis, we see a positive return for the S&P 500 during those shutdown periods, and that return if you net them out is over 10% in a positive return," Esposito said.
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However, Esposito said that if this shutdown proves to be particularly lengthy and "we start to see less clarity as far as the economy, less clarity as far as where we're going to end up and what the budget will look like, then I think that you could start to pull back in the market - participants may not be active sellers but they might not be as willing buyers, both would have the same effect on the market."

via: https://www.foxbusiness.com/markets/government-shutdown-begins-analysts-say-markets-historically-weather-disruptions-wel

Wake up, high-income earning Americans: a tax shift the size of a wrecking ball is barreling toward your retirement account. Starting in 2026, people age 50 and over who make more than $145,000 in wages (from a single employer) will no longer be allowed to make pretax "catch-up" contributions to their 401(k). Instead, those extra dollars - intended to turbocharge retirement savings in your higher-earning years - must go into Roth accounts, meaning you pay taxes now rather than later. 
This is a big deal. For decades, catch-up contributions have been a cherished loophole for folks nearing retirement to shift extra savings into tax-deferred accounts, lowering their current tax bill. Who says that Congress makes tax breaks only for wealthy people? Congress has now removed that pretax catch-up option for higher earners - and in doing so, is effectively yanking away a deduction worth roughly $2,775 to almost $4,000, depending on the state you live in.  
Here's how it works now - and how it will change: 
PROGRESSIVE CITIES GAMBLE WITH UNIVERSAL INCOME WHILE INFLATION THREAT LOOMS
If you're 50 or older, you've been allowed to sock away extra money in your 401(k) beyond the standard limit. In 2025, for example, the base deferral limit is $23,500, and catch-up contributions add another $7,500. Those contributions reduce your taxable income today - exactly when you're supposedly in your highest-earning, highest-tax-bracket years. 
For those ages 60 to 63, a "super catch-up" kicks in, allowing up to $11,250 in extra contributions. Those additional dollars, under the old rules, also qualified for pretax treatment.   
The strategy was slick: You defer taxes now (while your tax rate is higher), let the money grow over decades, and pay taxes later - often at a lower rate in retirement. With SECURE 2.0 Act, the required minimum distribution age will be 75.  
Beginning in 2026, if your prior-year wages at a given employer exceed $145,000 (the threshold will be inflation-indexed), any catch-up contributions you make must go into a Roth - or else they're disallowed entirely. In short: no more off-the-top tax break. 
If your 401(k) plan doesn't even offer a Roth option, you won't be able to make catch-up contributions at all. That's right: your golden ticket to extra retirement savings vanishes.  
CUT INCOME TAXES INSTEAD OF SENDING REBATE CHECKS: ART LAFFER
Proponents say this change encourages more Roth savings, which yield tax-free withdrawals in retirement. That's not wrong - Roth accounts have their virtues - but forcing everyone over a certain income into Roth territory isn't fair or nuanced. 
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What's the real reason? It's called $37 trillion in debt. The government gets its tax revenue now instead of waiting for decades. Sounds convenient for Uncle Sam. But for you? It just means plan to fork over more money now as you plan for taxes in 2026. 
Check whether your plan offers a Roth option: If it doesn't, you may be barred from contributing catch-ups altogether, and you might be able to influence your benefits department to add it to the plan.  
HOW TO SECURE YOUR 401(K) PLAN FROM IDENTITY FRAUD
Rebalance your retirement strategy: As you revisit your retirement plan, consider whether you want to convert more dollars into a Roth 401(k) or Roth IRA now, thinking about how you might take dollars out of your overall retirement plans down the road. 
Consider income timing and plan structure: Since the $145,000 threshold is based on prior-year wages at each employer, splitting income between jobs or adjusting timing might offer strategic advantages. 
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Explore alternative vehicles: For high earners, tools like cash balance plans or defined benefit/defined contribution hybrids may afford higher tax-deferred savings flexibility. They could allow consultants, 1099s or small corporations the ability to put away hundreds of thousands of dollars on a pretax basis. 
Don't let this shifting tax change blindside you. Congress is not just squeezing you - it's shifting the playing field mid-game without any warning. If you're in or approaching your high-earning, high-contribution years, now is the time to take stock and adjust your course. At $37 trillion in debt, this won't be the last change Congress makes to carve tax breaks from high-income earners. 
CLICK HERE TO READ MORE FROM TED JENKIN

via: https://www.foxbusiness.com/fox-news-opinion/youre-50-older-you-might-about-lose-big-tax-brea

Nearly one in five American homes listed for sale reportedly saw a price cut in September, as rising inventory shifted more power to buyers.
The number of listings with price cuts reached 19.9%, unchanged from August but up modestly from last year. Homes priced between $350,000 and $500,000 saw the steepest markdowns at 21.6%, while luxury properties over $1 million were less likely to see reductions, at just 13.3%, according to a Thursday report from Realtor.com.
FROM AMERICA'S 'WORST MARKET' TO WEALTH HAVEN: FLORIDA REAL ESTATE SPLIT SHOWS SIGNS OF LIFE
"What we've uncovered is that price reductions are more common at the lower end of the market, while higher-priced sellers are more likely to hold firm," Jake Krimmel, senior economist at Realtor.com, told FOX Business. "That helps explain why median prices nationally and in many [metropolitan areas] look steady even as buyers at more affordable price points are seeing more room to negotiate."
High-end sellers often have greater financial flexibility, equity or are listing second homes - giving them the option to wait rather than slash prices. Meanwhile, entry- and mid-tier sellers typically need to sell in order to buy - making them quicker to adjust, Krimmel noted.
REAL ESTATE VETERAN WARNS 'HOPELESSNESS' IN HOUSING MARKET THREATENS THE AMERICAN DREAM
"With the market finding more balance this year, price reductions have become one of the clearest signals of change and of movement in a more buyer-friendly direction," Krimmel told FOX Business. "In 2025, more listings have seen price cuts than in any year since the pandemic, and certainly since mortgage rates surged in 2022 and demand cratered."
Price trends also diverged across regions last month. Just 14% of listings in the Northeast cut prices, compared with around 21% in both the South and West. Among major metros, Denver led the pack with 30.7% of homes reduced in price, followed by Portland at 30.2% and Indianapolis at 29.7%, according to the report.
EXPERTS WARN FEDERAL RESERVE HAS 'FROZEN UP' THE AMERICAN DREAM WITH 'INCOMPETENCE'
Active inventory jumped 17% year-over-year in September, keeping the number of homes on the market above 1 million for the fifth straight month. However, supply still remained nearly 14% below pre-pandemic levels, according to Realtor.com.
Homes are also taking more time to sell. Last month, the median time on the market rose to 62 days which is a week longer than last year. The median list price held steady at $425,000, flat from a year ago but still around 36% higher than in 2019, as noted in the report.
"This summer's housing market has been marked by regional divergence, with the South and West softening while the Northeast and Midwest stayed resilient," Krimmel added. "However, price cuts stand out as one of the few trends uniting markets nationwide. Rising inventory, longer time on market, and affordability pressures are pushing sellers everywhere to reset expectations and begin to price accordingly."
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Mortgage buyer Freddie Mac reported on Sept. 25 the average rate on the benchmark 30-year fixed mortgage rose to 6.3% from the prior week's reading of 6.26%. The average rate on a 30-year loan was 6.08% a year ago.

via: https://www.foxbusiness.com/real-estate/nearly-1-5-american-homes-slash-prices-as-buyers-gain-upper-hand-shifting-marke

During his storied NFL career, Tom Brady won more Super Bowls than any other player in history. Since stepping away from the football field, Brady has cemented himself as an astute businessman.
He holds a minority stake in the Las Vegas Raiders, owns a content production company, and serves as a pitchman for the Hertz rental car company.
Brady launched the TB12 wellness company in 2013. The FOX Sports NFL analyst is also adding something else to his resume: chief innovation officer at Aescape, a robotic massage company.
"So I started a TB12 health and wellness business in 2013. And it was all based around muscle work and pliability and body treatments that I would do as a part of my full routine every day throughout my playing career. And the challenge is in that business model, when you train a body coach, a human body coach," Brady said Wednesday during an appearance on FOX Business' "The Claman Countdown."  
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Brady has long supported a regime that focuses on the musculoskeletal system and pliability. He said he believes it is a key component to wellness.
"The one-to-one business model is sometimes very difficult to scale. And I always believe, God, if we could ever find a way through engineering, through robotics, to bring this to the masses so that we can program through software, this incredible engineering device, which Escape has done. We can actually change the world. We can, because my belief is health and wellness is all about keep your muscles very long and pliable and then fully functioning over the course of your life."
TOM BRADY SAYS POST-NFL LIFE IS ABOUT 'BUILDING TRUST' AS HE MAKES BUSINESS PLAY WITH HERTZ
When asked whether artificial intelligence can ultimately replace the human touch of a therapist during a conventional massage session, Brady said that remains to be seen.
"I mean, it's all a hypothesis, so whether I think so or not, it's up to what the future holds. I do think obviously robotics AI is," he told FOX Businesses' Liz Claman.
"Really, the world we're entering into and how can we deliver a consistent service that's totally dependable and is based on protocols that are tried and tested over many, many years. So to develop these programs, a software program with the incredible engineering of what Eric and his team have done to me is one of the most exciting things I could ever imagine being a part of. This has been, like I said, this has been my lifelong journey. I'm very fortunate to still be very active. I'm 48 years old."
The financial terms of Brady's agreement with Aescape have not been disclosed.
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Aescape CEO Eric Litman told FOX Business a touch screen is situated near the head cradle for easy access should users need to make adjustments during a massage session.
The robotic technology is available at 100 locations.

via: https://www.foxbusiness.com/sports/tom-brady-partners-robotic-massage-company-touts-ai-tech-i-want-every-locker-roo

Elon Musk on Wednesday reportedly became the first person in history with a net worth of $500 billion.
The Tesla and SpaceX CEO's fortune crossed the half-trillion mark around 3:30 p.m. ET, putting him about $150 billion ahead of Oracle co-founder Larry Ellison, the world's second-richest person, Forbes reported.
Musk's wealth has skyrocketed from $24.6 billion in March 2020 to a series of milestones: $100 billion by late 2020, $200 billion in 2021 and $400 billion in 2024, before reaching $500 billion this week. 
At his current pace, Musk could become the world's first trillionaire by 2033, when Tesla's proposed $1 trillion compensation package begins vesting, Forbes reported.
ELON MUSK PLEDGES RETURN TO '24/7' WORK AT HIS FIRMS AFTER WIDESPREAD X OUTAGE
"It's not about 'compensation', but about me having enough influence over Tesla to ensure safety if we build millions of robots," Musk said in an X post in September. "If I can just get kicked out in the future by activist shareholder advisory firms who don't even own Tesla shares themselves, I'm not comfortable with that future."
THESE ARE THE BIGGEST MOVES ELON MUSK MADE WHILE RUNNING DOGE
Tesla stock rose nearly 4% Wednesday, adding about $9.3 billion to Musk's fortune. The stock has nearly doubled since April, when Musk announced he would step back from his role leading President Trump's Department of Government Efficiency (DOGE) to refocus on the EV maker, Forbes reported.
Tesla's market cap is now within 10% of its all-time high, with Musk's 12% stake valued at $191 billion. SpaceX, valued at $400 billion, contributes an estimated $168 billion to Musk's net worth. Musk also controls a majority stake in xAI Holdings, valued at roughly $60 billion, according to Forbes.
TESLA EARNINGS FALL SHORT; ELON MUSK SAYS DOGE TIME WILL 'DROP SIGNIFICANTLY'
Last month, Tesla's board of directors proposed a new compensation plan for Musk worth a potential $1 trillion, marking what would be the largest pay package for an executive in history.
The board's proposal would give Musk up to 12% of Tesla's stock, worth about $1 trillion, if the automaker hits aggressive targets such as a market capitalization of $8.5 trillion and other operational milestones over a 10-year period.
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Tesla did not immediately respond to FOX Business' request for comment. 
FOX Business' Daniella Genovese contributed to this report.

via: https://www.foxbusiness.com/business-leaders/elon-musk-makes-history-first-person-ever-hit-500b-net-worth-milestone-repor