Markets

The K-shaped economy isn’t dead yet

The K-shaped economy isn’t dead yet

Markets—

Is the economy still K-shaped? The label came into vogue to describe an economy where the rich keep pulling ahead while the poor fall further behind. Recent comments from business executives and policymakers suggest that shape might be changing. Hilton CEO Christopher Nassetta said that sales…

This is the hot job at SpaceX

This is the hot job at SpaceX

Markets—

One of the hottest jobs at SpaceX right now relies on an old-fashioned skill: talking to people. CEO Elon Musk, who also founded xAI, the company behind the chatbot Grok, has spent years saying that AI and robots will take on more of the work humans do. Yet on SpaceX’s earnings call Tuesday, he said

The 40 richest families in America, ranked

The 40 richest families in America, ranked

Markets—

Net worth: $23.5 billion Source of wealth: Marriott International The Marriott family’s legacy traces back not just to hotels, but also to root beer. In 1927, John Willard “J.W.” Marriott began selling A&W root beer at a small shop in Washington, DC; the venture quickly expanded into drive-in…

Meet 4 of the people who made it to the top of McKinsey this year

Meet 4 of the people who made it to the top of McKinsey this year

Markets—

Four McKinsey & Co partners sit down around a table. One wears Chanel jewelry and a pantsuit; another a casual, billowy shirt. Several hands sport Oura rings, silently tracking their wearers’ heart rates. There’s no punchline here — only a massive promotion. When we spoke in late June, this quartet…

SpaceX’s science fiction dreams come with an astronomical bill

SpaceX’s science fiction dreams come with an astronomical bill

Markets—

As an abandoned SpaceX rocket crashes into the moon, Elon Musk’s science-fiction ambitions are on their own collision course with Wall Street. SpaceX shares fell as much as 11% in after-hours trading despite the company delivering an earnings beat on Tuesday, as investors expressed anxiety over the…