• Elon Musk said that "AI and robots" are the key to fixing America's national debt.
• On a podcast, Musk said it would be "impossible" to tackle any other way.
• He predicted "digital superintelligence" could boost the output of goods and services by 20% to 30%.

Elon Musk said artificial intelligence and robots — not government spending cuts — are the only way to fix the US national debt problem.

Speaking on a newly released episode of author Walter Isaacson's "The Builders" podcast, Musk said his 130-day stint as a special government employee in the second Trump administration led him to that view.

Musk, the world's richest person, served as the de facto leader of the White House DOGE office from January to May 2025, where he sought to slash federal spending.

"I came to the conclusion that the only way we're going to solve the national debt is with AI and robots. We're not going to solve it by trying to save our way there," Musk told Isaacson, calling the latter "impossible."

The US national debt load hit a record $40 trillion in August and has continued to climb, according to Treasury data.

"Maybe if the president made that his, you know, primary goal, we could do that, but the problem is if you try to solve the deficit and stop wasteful spending, you make a lot of enemies in that situation," Musk said.

The Tesla and SpaceX CEO said political leaders in Washington are mostly unwilling to rein in federal spending enough to significantly shrink the deficit.

"The appetite is not there, and it's not just at the presidency. The appetite is not there at the presidency, the House, the Senate, or the judiciary," Musk said.

He added, "Basically, no one in authority in the government whatsoever, really, with maybe a few rare exceptions of like the Rand Pauls of the world type of thing, actually wants to reduce spending — no, they don't."

Musk estimated that "digital superintelligence" could boost the global output of goods and services by 20% to 30% — an increase he estimated could add roughly $30 trillion a year to the world economy.

"If you have robots and you get to space and can do a mass driver on the moon, then you can get to, I think, potentially a million times the size of the Earth economy," he said.

This could ultimately make money "irrelevant," Musk said.

"There will still be currency, but I think currency will be measured in fundamental physics metrics like wattage and tonnage, mass and energy," he said, predicting, "Conventional currency will not matter."

During the interview, Musk also reflected on his chainsaw-wielding time with the Department of Government Efficiency, admitting he got "carried away."

"I think I should have been more in the background and probably only had it last for a month or two, because at that point you've sort of seen most of what there is to see," Musk told Isaacson.

Musk said he should have left and "focused on AI a little sooner than I did."

• Elon Musk says "money becomes irrelevant" if he's right about what the future holds.
• The Tesla and SpaceX CEO said AI and robots will be better than humans at everything.
• The world's richest man said his fortune could be virtually gone within a few generations.

Elon Musk says money could be meaningless one day, and the vast majority of his wealth will likely be gone within a few generations.

The world's richest person predicted that advances in robotics and space travel will create a multiplanetary economy, at which point "money becomes irrelevant" and "conventional currency will not matter."

Value will be measured in mass and power or energy, he continued. "So that's my guess," he said, adding that it seemed a "pretty obvious" outcome to him.

The Tesla and SpaceX CEO shared his vision of a post-money future and his outlook on his personal fortune with his biographer, Walter Isaacson, on "The Builders" podcast. The interview was taped in early August and released on Tuesday.

Musk recommended earlier this year that people stop saving for retirement in 10 or 20 years, as he expects AI and other technologies to supercharge productivity and usher in an age of abundance where people can have "whatever stuff they want."

He made a similar argument to Isaacson, saying "there won't be anything that humans can do that the AI and the robots can't do better." People will likely turn to hobbies like growing their own fruits and vegetables, or making art, to find purpose in life, he said.

Musk's plans for his own money

Musk, who briefly became a trillionaire after SpaceX went public in June, topped the Bloomberg Billionaire Index at Monday's close with an estimated $920 billion net worth.

He defended his personal wealth on the podcast, saying that it mostly reflects his ownership of SpaceX and Tesla, and he needs large stakes in both companies to retain voting power and remain in charge.

His fortune is "going to be taxed quite heavily," Musk said, adding that there isn't "some magical way to avoid taxes" because "if there were, I would know about it."

Musk said his wealth will "get whittled down and a few generations from now — if money still matters, which I don't think it will — my descendants would have a tiny fraction of what I have."

He also outlined what he hopes his foundation will spend his fortune on after he's gone: "Continue the goals. Make life multi-planetary, extend consciousness to the stars, improve sustainable energy on Earth."

Notably, Musk pledged on Monday to gift a share of SpaceX to every child in the US next year, a contribution worth over $10 billion today.

His announcement has won praise from President Donald Trump, who hailed Musk's "incredible generosity" and labeled him a "legendary friend" in an X post.

Musk teased a charitable pledge in late July after Nobel economist Daron Acemoglu publicly challenged him over his prediction of a post-money future.

"If money won't matter in 2036, why don't you pledge to donate your current wealth of approximately $1 trillion to charity no later than 2036," Acemoglu wrote on X.

"I am actually going to do something along these lines!" Musk responded.

One of my favorite cartoons growing up was "The Jetsons." The Jetsons were a futuristic family living among the clouds with a fully automated life, from a robot maid named Rosie to technology that could make your dinner or do your laundry in just a few seconds at the push of a button. Everyone’s favorite aspect of this futuristic cartoon lifestyle boiled down to one element, which has become somewhat of a benchmark for technological progress: flying cars. And with Tesla’s recent exhibition, we are one step closer to that Jetsons-esque reality.

If you haven’t seen the video, Tesla did a demonstration of their forthcoming Roadster vehicle, slated for 2028 production. The car swooped up a half-loop ramp reminiscent of Matchbox car stunts. At the top of the ramp, the car, which was upside down at the top, flipped over in midair. Then, thrusters seemed to suspend the car in midair, before helping guide it gently back down to land on the ground.

For just a few moments, that car flew, and it was truly awe-inspiring.

FLYING SPORTS CAR HIDES ITS WINGS AS PRODUCTION GETS CLOSER

The reactions to this engineering feat and demonstration spectacle are somewhat of a Rorschach test. Those who love building, progress, technology or who are just generally optimistic have seen this demonstration as a formidable, impressive achievement. Those who like to see things torn down or are generally naysayers or obstacle formers react with "it’s not that big of a deal" or give other criticisms.

Fortunately, America still has enough people committed to the entrepreneurial spirit to attract the likes of Elon Musk and provide a good home base for his talented team members and others who want to see Musk, America and human beings in general succeed.

It isn’t hyperbole to say that Elon Musk is one of, if not the greatest, entrepreneurs of modern times. Regardless of any personal feelings or thoughts about Musk, if you can separate the art from the artist, or in his case, the entrepreneur from his business accomplishments, objectively, Musk has done the unthinkable time and time again. And we, as a country, are better off for him doing it from America as his home base.

As my husband and I talked about Musk’s varying accomplishments, from his early work in online payments to his achievements in electric vehicle manufacturing and AI, to his SpaceX being able to catch rocket boosters returning to the Earth from outer space upon landing, and now this latest hovering automobile. We discussed that Musk reportedly held discussions with Taiwan Semiconductor Manufacturing Company regarding a potential collaboration for his "Terafab" semiconductor facility in Texas. I mentioned that chip buildout had faced major challenges elsewhere, and my husband pointed out that it is different under Musk, saying, "In fact, we need 16,000 more Elon Musks."

INNOVATION IS KEY TO AMERICA STAYING A SUPERPOWER. BUT IT IS MISSING AN ESSENTIAL PIECE

And he’s right. America needs more Elon Musks.

No, Elon Musk does not succeed on his own. There are many team members alongside him in undertaking outrageous projects and often making them succeed. But there’s something about Musk’s vision, leadership, hiring and willingness to inspire confidence in others, both on his team and in the general public, that makes his teams continue to be successful. And we need more of that.

We need to not only attract and inspire those who may even be just a little bit like Musk, to dream bigger and bolder, to take calculated risks and try and try again when things don’t work the first time. And we need to make sure that we incentivize that behavior, instead of trying to penalize it or throw up roadblocks.

THE NEXT AMERICAN BOOM COULD BE HERE — UNLESS WASHINGTON REGULATES IT TO DEATH

In our own government, which is supposed to help vs. hinder entrepreneurs, we have politicians like Senator Elizabeth Warren, who is noted for going after Elon Musk because of his success, instead of trying to figure out a way to foster more Musk-like successes. After a vastly-ridiculed post made earlier this week from Warren lamenting, of all things, a possible merger between companies that make various spices and condiments, Mike Solana, CMO of Founders Fund and EIC of Pirate Wires, posted on X (also owned by Musk), highlighting the stark differences between the politician Warren and the creator Musk.

His post said, "liz warren: we’re gonna stop the mayonnaise company from buying a hot sauce company." He then said, "elon musk:," and included the video from Musk of the Roadster’s hovering feat, perfectly illustrating how some in our country are erecting barriers and others are breaking barriers.

America was founded on an idea of individual rights and incentives that rewarded successful pursuits, with such rewards growing at scale. We are very fortunate that we have Elon Musk and others who are pushing boundaries, bringing us into new frontiers, allowing Americans who work for him, who invest with him and who use his products or services to benefit alongside of him.

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

We do need 16,000 more Elon Musks. And the way to foster more Elon Musks is to appreciate, incentivize and reward entrepreneurship.

• Trump praised Elon Musk's plan to give one SpaceX share to every child in America next year.
• The pledge could be worth about $10.6 billion at SpaceX's current price.
• Musk and Trump have a rocky relationship, but appear to be back on the same page in recent months.

Elon Musk’s pledge to give every child in America a share in SpaceX has already paid one dividend: effusive praise from President Donald Trump.

"A BIG THANK YOU to our legendary friend, Elon Musk," Trump wrote Monday, calling the proposed gift an act of "incredible generosity."

He said the shares would go to children through Trump Accounts, the investment accounts created under his administration.

It was an enthusiastic response to Musk's commitment earlier in the day. "Next year, I will give one of my SpaceX shares to every kid in America," he wrote on X. "This will be the first of many."

Significantly, Trump shared his praise in a post on X, a platform he has eschewed in recent years since launching his social network, Truth Social.

Trump was barred from Twitter in 2021 after the Capitol riot, and while his account was reinstated after Musk bought and renamed the platform, the president has been an infrequent poster since then.

Musk's $10 billion donation promise

There are roughly 72 million children in the US, and SpaceX stock closed Monday at about $148 a share. At that price, one share apiece would put the gift's value at around $10.6 billion. Its eventual value will depend on SpaceX’s share price at the time the stock is transferred.

Trump has been waiting for this particular contribution. In July, he said he thought Musk would donate SpaceX stock to Trump Accounts, even as he referred to their very public falling-out as a "little dispute."

SpaceX President Gwynne Shotwell and her husband had already pledged shares for more than 2 million children’s accounts.

Musk and Trump have a turbulent relationship. The world's richest man was one of Trump's biggest financial backers in the 2024 election, spending more than $200 million to help elect him. The pair were close enough during the first few months of Trump's return to the White House for Musk to earn the nickname "First Buddy."

He then became the public face of the administration's Department of Government Efficiency before leaving in May 2025.

After leaving DOGE, Musk was highly critical of the president's "Big, Beautiful Bill," calling it a "disgusting abomination."

Musk has recently resumed spending heavily to shape Republican politics ahead of the midterms. Since July, he has given about $276 million, including $158 million to the Senate Leadership Fund; the super PAC later sent matching sums to a Texas group supporting Attorney General Ken Paxton's Senate campaign.

Lately, Musk has been seen publicly with Trump several times; the president awarded him the National Medal of Science earlier this month, and when China's leader Xi Jinping visited the US in September, he sat at the president's table at a state dinner.

Details are still unclear on Musk's SpaceX share giveaway

If confirmed, Musk would join other wealthy backers of the program. Michael and Susan Dell contributed $6.25 billion to the accounts of 25 million children, with the gifts directed first to children in lower-income ZIP codes. Musk’s donation would be larger than the Dells' barring a significant drop in SpaceX's share price.

For now, it remains a promise. Musk has not detailed who would qualify as a child under his plan, how he would get shares into every eligible account, or when the transfers would happen next year.

For Trump, the promise brings one of the country’s wealthiest business leaders behind a program he has promoted. "This is exactly what was envisioned when we created TRUMP ACCOUNTS," he wrote Monday.

• This post originally appeared in the Business Insider Today newsletter.
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The SpaceX business helping to fund Elon Musk's biggest bets is taking a swing of its own just in time for earnings.

SpaceX reports earnings after the bell today, and Musk's goal of turning Starlink into a major mobile carrier is expected to be a focus.

Taking on Verizon, AT&T, and T-Mobile is a huge endeavor. And it requires significant investment from a company that already has a long list of expensive bets.

As a bit of a refresher, SpaceX is made up of three key parts: connectivity (Starlink), space (reusable rockets like Starship), and AI (Grok, X, and data centers). Among the three, connectivity is the only one generating an operating profit.

That makes it incredibly valuable not only as a stand-alone business but as a way to offset the expensive investments made by SpaceX's space and AI segments.

Turning Starlink into a mobile carrier complicates that arrangement. To offer service in more densely populated areas, SpaceX will need to launch more satellites into space and establish a ground footprint.

How much SpaceX plans to set aside for that buildout and the impact it'll have on the bottom line are key questions analysts will have.

Musk is no stranger to talking a big game. He recently said SpaceX could one day be worth more than Earth's economy.

He's backed it up by accomplishing things others thought were impossible, like self-landing rockets. Just don't expect him to hit his self-imposed deadlines. (Case in point: Tesla Roadster, which has faced numerous delays and is now targeting production in 2028.)

There's less at stake when you're starting from scratch. But with Starlink, it's also about Musk avoiding turning his cash cow into another capital drain.

According to another Musk proclamation, a lot of us will have a vested interest in SpaceX's success.

Early Monday morning, Musk said he'll give one of his SpaceX shares to every kid in America next year.

"This will be the first of many," he added.

Details on how that would work weren't clear, but many people immediately thought of the recently launched Trump Accounts.

President Donald Trump predicted Musk would donate SpaceX stock to the accounts. And SpaceX president Gwynne Shotwell already said she'd gift a share of her company stock to Trump Accounts.

If that's how the shares are distributed, it's an example of the complexities the Trump Accounts can pose for some parents. Certain jobs, like those in financial services, have restrictions around the types of investments you can hold due to compliance reasons.

• Elon Musk says he'll give a SpaceX share to every child in the US next year.
• That would be a $10.5 billion gift based on SpaceX's stock price and roughly 72 million recipients.
• Musk said this would be the "first of many" SpaceX share giveaways but didn't offer further details.

Elon Musk says he'll give every child in the US a piece of his space company, a gift worth around $10.5 billion today.

"Next year, I will give one of my SpaceX shares to every kid in America," Musk wrote in an early Monday post on X. "This will be the first of many."

There are roughly 72 million children in the US based on 2025 census data, and SpaceX stock closed at $146 on Friday. If Musk donated 72 million shares right now they would be worth around $10.5 billion.

Musk didn't provide any further details on how the giveaway would work, such as eligibility criteria or specific timing, or whether the shares will be transferred to Trump Accounts.

The Tesla and SpaceX CEO is the world's richest person, with an estimated net worth of $904 billion as of Friday's close, per the Bloomberg Billionaires Index.

SpaceX — the company behind Falcon rockets, Starship launch vehicles, Starlink satellites, the AI chatbot Grok, and X — went public this summer and has a market capitalization of about $2 trillion.

Excluding restricted shares and options, Musk owns 4.77 billion SpaceX shares for about a 36% stake, worth just under $700 billion at Friday's close. The rest of his fortune largely comprises his stakes in his other companies, including Tesla, Neuralink, and The Boring Company.

Donating 72 million shares would reduce Musk's number of SpaceX shares by 1.5%. If, as indicated in his X post, he follows that up with further giveaways, his stake could shrink significantly.

Musk's pledge is part of a broader trend of gifting shares to America's children, aimed at ensuring they all own a piece of the stock market and reap its gains over time, and benefit from a lifetime of compounding wealth.

The Trump administration launched Trump Accounts — tax-advantaged investment accounts — for eligible children this summer, with those born between 2025 and 2028 receiving a $1,000 federal seed deposit. Numerous companies have agreed to contribute to them as well.

Michael and Susan Dell contributed $250 to 25 million American children's Trump Accounts earlier this month, a gift totaling $6.25 billion that was allocated first to those in the lowest-income ZIP codes.

SpaceX President Gwynne Shotwell and her husband pledged in July to give shares of SpaceX to more than 2 million children.

Musk shared his SpaceX gift idea after Anthropic pledged to commit 5% of its shares to a public benefit fund.

"I recommend giving shares directly to the public," he replied on X. "This is what I will be doing."

Another X user described Anthropic and Musk's pledges as "the beginning of universal basic income." Musk corrected him, writing *universal high income."

Musk has predicted that advances in AI, robotics, and other technologies will usher in an age of abundance in which everyone can have "whatever stuff they want."

He's recommended people stop saving for retirement in 10 or 20 years as their nest eggs will be "irrelevant," and has proposed government checks for all as the best response to job losses from AI.

Correction: October 19, 2026 — An earlier version of this story incorrectly described SpaceX as a private company. It went public in June 2026.

• Anthropic is pledging billions worth of shares to a "public benefit fund."
• That sounds great — but not everyone is a fan.
• Elon Musk is among those who say the money should go directly to Americans.

Anthropic's announcement that it will commit at least 5% of its shares to a "public benefit fund" is drawing a mix of enthusiasm and skepticism. Many questions about how the fund would work remain unanswered, but the company said it would create a separate corporation with the shares to make donations.

Here's what people are saying.

Elon Musk, CEO of SpaceXAI

Musk, whose SpaceXAI is a competitor of Anthropic, made some news about his own plans in an X post reacting to Anthropic's statement.

"I recommend giving the shares directly to the public," he wrote. "This is what I will be doing."

Palmer Luckey, Anduril cofounder

The Anduril Industries cofounder expressed concern about what Anthropic might fund.

"The problem is that their definition of 'public good' is helping everyone else, not the American public," he wrote on X.

"If they would commit to helping America and Americans, that would be one thing, but this reeks of USAID 2.0, just another way to funnel billions out of our own economy."

Andrew Curran, AI analyst

The prominent AI analyst zeroed in on a line in Anthropic's statement in which it said it might explore "direct distributions to specific populations." Curran wrote on X.

"It sounds to me like they are planning their own form of self-directed global UBI," he wrote referring to universal basic income, which some have said will be necessary if AI drastically reduces employment.

"About half of Anth employees are also donating shares into this fund," Curran added. "They foresee a transformative future."

Brad Gerstner, CEO of Altimeter Capital

Gerstner praised Anthropic for what he called its "philanthropic commitments," calling it "an extraordinary gift" — but he also sounded a note of caution about "foundation wealth concentration."

Like Musk, he wrote, "I hope a meaningful portion of AI's wealth is a direct dividend."

Sam Hogan Heutmaker, CEO of Inference

The CEO drew a comparison between Anthropic's plan to create a charity and OpenAI, which began as a nonprofit before going commercial.

"This will come to be known as 'the reverse OpenAI'" he wrote on X. "start as C corp, raise lots of money > once successful, start 'independent' non profit > start concentrating value into this new entity, which you and your homies control."

"It's genius," he added.

Gary Marcus, professor at NYU

Marcus cast the announcement as a PR gambit.

"Anthropic is playing games here," he wrote on X. "Trying to curry public favor while still holding control and resisting disclosure is annoying. And reeks of desperation."

Patrick Moorhead, CEO of Moor Insights and Strategy

Moorhead was among those raising questions about whether Anthropic would have too much control over where the funds go.

"If it's dedicated entirely the 'public benefit' why don't they just give it to the public and citizens where they can directly benefit? Seems like the public would know what to do with the money better than bureaucratic institutions," he wrote on X.

David Sacks

Venture capitalist and the Trump administration's former AI czar, David Sacks, responded to a post from Anthropic cofounder Jack Clark, who said the public benefit pledge would mean around 20% of Anthropic's equity would be "dedicated to the public good."

"You've put 20% of your equity in an LLC. Whether it serves the public good remains to be seen," wrote Sacks on X.

Sacks has previously been a fierce critic of Anthropic, attacking the company's proposal that the world's top AI labs should implement a global pause on the technology and accusing Anthropic of attempting to "kneecap" open-source rivals.

Travis Kalanick

"Behold, the EA infinite money glitch…" Uber cofounder Travis Kalanick wrote, quote-tweeting Anthropic's blog post.

EA refers to effective altruism, a philosophy popular in some corners of Silicon Valley (and unpopular in others) that holds that people should use their money and careers to maximize long-term benefit to humanity.

Several of Anthropic's cofounders and early investors have ties to effective altruism, although the company and its top executives, Dario and Daniela Amodei, have distanced themselves from the movement.

Kevin Roose

Kevin Roose, a former New York Times tech columnist and the author of "The AGI Chronicles," wrote on X that Anthropic's pledge could be the "largest commitment of philanthropic capital ever made."

Roose estimated that the share pledge could be worth $200 billion if Anthropic goes public at a $1 trillion valuation.

"By my count, if Anthropic and OpenAI each go public at $1 trillion (again, probably conservative), that's roughly $460 billion, or 5 Gates Foundations, earmarked for philanthropy-shaped things," he said.

• Elon Musk is giving reams of cash to Republicans.
• Most of that dough is ending up in Texas, according to financial disclosure forms.
• In Texas, Ken Paxton is running a tight race against James Talarico.

Elon Musk is forking over generational wealth to Republicans facing tough midterm elections this cycle.

Over two donations in September, Musk gave a combined $158 million to the Senate Leadership Fund, a super PAC aligned with Senate Republicans, which has, in turn, given reams of cash to funds supporting the Republican candidate in Texas.

The money, shown in new federal disclosure forms, cements Musk as a major player in Republican politics over a year after he publicly split with President Donald Trump over the latter's handling of the Epstein files (though the two have since reconciled).

Republicans are facing serious headwinds over the Iran war, rising inflation, and sky-high gas prices. Polls show that American voters are largely dissatisfied with Trump's leadership and handling of the economy.

All told, Musk has given about $276 million since July. Much of Musk's political donations have ended up in Texas, according to federal disclosure forms, where embattled Attorney General Ken Paxton is engaged in a mudslinging battle for the Senate with state representative James Talarico.

One day after Musk notched a $75 million donation to the Senate Leadership Fund, the Super PAC gave a $75 million donation to the Texas PAC, a group aligned with Paxton.

Then, also in September, another $83 million donation by Musk was matched the next day by an identical donation to the Texas PAC, according to federal disclosure forms.

Talarico's campaign, meanwhile, has raised about $129 million.

Musk's companies are already investing billions in the Lone Star State, as the business magnate builds SpaceX's terafab semiconductor facility outside Houston.

In 2024, Musk announced that he was moving SpaceX's headquarters from California to Texas in response to Gov. Gavin Newsom's policies on gender identity.

Representatives for Paxton and Musk did not immediately respond to requests for comment on Saturday.

Musk, the CEO of SpaceX and Tesla, said last year that he had probably "done enough" political spending, though he left the door open.

"Well, if I see a reason to do political spending in the future, I'll do it. I don't currently see a reason," he told Bloomberg at the time.

• Tesla has unveiled the next-gen Roadster twice: in 2017 and again on Thursday.
• We list the differences between the two versions.
• Range: down. Price: unknown. Flying: way up!

Tesla just unveiled the revived Roadster.

Sound familiar? It certainly should.

On Thursday, CEO Elon Musk took the covers off the latest version of Tesla's halo sports car and said the EV maker is eyeing production in 2028.

It's the second time the company has unveiled a prototype vehicle that it says will carry on the Roadster nameplate. In 2017, Musk unveiled a smoother-looking and very different type of Roadster.

The 2017 version simply drove onto a stage next to Elon, then spun its tires and raced away. The 2028 version — on a track placed a safe distance away from spectators — drove up a vertical wall, hung upside down, hovered in the air, and did a "kick flip" over a line of other Teslas.

Turns out, a lot can change in nine extra years of product development.

A lot of the nuts and bolts powering the Roadster changed — and so did the car's metrics. So, we put together a chart comparing Tesla's old Roadster promises with the new ones.

Here's what we found:

• Harvard's endowment returned a five-year high of 27.1% in the 12 months to June 30, besting the S&P 500.
• The Ivy League college counted a $2.2 billion SpaceX stake as its top Q2 portfolio holding by far.
• Harvard's endowment grew to almost $68 billion after accounting for taxes, gifts, and distributions.

Harvard University delivered its best investment return in five years as its bet on SpaceX boosted its stock portfolio.

The elite college's endowment returned 27.1% in the fiscal year ended June 30, its annual financial report revealed on Thursday. That comfortably outpaced the benchmark S&P 500's 22.3% total return over the same period.

After accounting for taxes, distributions, and gifts, Harvard's endowment grew by $11 billion to nearly $68 billion.

Harvard Management Company's stake in Elon Musk's maker of Starship rockets, Starlink satellites, and AI chatbot Grok was worth $2.2 billion at the end of June, per its second-quarter portfolio disclosure.

SpaceX was its number-one holding, more than six times more valuable than its second-biggest position, a sub-$350 million stake in Taiwan Semiconductor.

Its next-largest positions — each worth over $150 million — were Cerebras, Amazon, Alphabet, and Nvidia. Its 19 holdings at the end of June were together worth about $4.3 billion, more than double the portfolio's $1.8 billion value three months earlier.

Harvard said the strong performance of its endowment, which is nearly 400 years old and comprises about 15,000 individual funds, helped it weather the "abrupt termination of federal research grants" by the Trump administration.

It's worth noting that 13-F portfolio disclosures are a snapshot of a fund's US stock holdings on a certain date. They don't include foreign-listed stocks, non-stock assets like bonds or real estate, private investments, or stocks sold short.

Harvard said that as of June 30, 14% of its endowment was invested in public equities, 29% in hedge funds, 46% in private equity, 4% in real estate, and the balance elsewhere.

Harvard declined to comment when contacted by Business Insider.

SpaceX's valuation has whipsawed since the aerospace company went public on June 12. Its market capitalization topped $2.4 trillion on June 20, then tanked to $1.4 trillion by August 1, and has since rallied to around $2 trillion.

Musk's company posted a 92% year-on-year revenue jump for the quarter ended June, helping narrow its net loss from $1 billion to $541 million.

The world's richest man recently posted on X that he sees a path for SpaceX to be worth "orders of magnitude more than the current Earth economy," implying its stock could rise at least 6,000-fold to $12 quadrillion over time.

He later clarified that wasn't a "statement of extreme confidence," but he believes the probability of achieving that valuation is "not zero." On October 14, he said he expects SpaceX to be worth more than $100 trillion in the next 10 years.

Harvard is one of several shareholders to reveal a sizable stake in SpaceX. Google parent Alphabet reported a roughly 4% stake valued at $94 billion as of the end of June. Longtime Musk associate Peter Thiel disclosed a 3.2% position worth $73 billion held by his Founders Fund and related entities. AI chipmaker Nvidia has a $21 billion stake.

• Elon Musk unveiled Tesla's flying, thrust-powered Roadster with a jaw-dropping demo.
• Tesla fans about to shell out as much as $250,000 to reserve it should probably read the fine print.
• Tesla said it can't guarantee the Roadster will be delivered, and it's unclear if the rocket-powered version is street-legal.

Where Tesla's going, you might not need roads — but you still need to read the terms and conditions.

Tesla's thruster-powered, midair flip-kicking, flying supercar was a wow moment even by the standards of the company's famously off-the-rails product unveilings.

But Tesla fans lining up to pay as much as $250,000 to reserve the new Roadster, which can do 0-60 mph in under a second thanks to a system of cold-gas thrusters, should probably take a close look at the fine print.

The company's T&Cs make it clear that the final price of the bleeding-edge EV — which comes in Performance, Thrust, and Rocket variants — has yet to be determined and state that there are no guarantees the Roadster will ever be delivered.

Meanwhile, it is unclear whether the two thruster-powered versions of the Roadster will actually be road-legal.

After combing through the Roadster's reservation agreement and Musk's comments at its unveiling, here's what you should know before splashing out on Tesla's most outlandish vehicle yet.

1. It's not clear where you can actually drive it

As the dust cleared on the jaw-dropping Roadster showcase, one key question remained unanswered: where exactly will you be able to drive it?

At the event, Musk said the cold air thruster-powered flying Roadster would be an actual "car that someone can own," not just a one-off concept demonstration.

But the Tesla CEO added that he was "not sure it's necessarily legal in all jurisdictions," and when an audience member asked if it would be street-legal, Musk was vague.

"Depends on your street. But it'll be a viable car," the billionaire said.

The flying Rocket variant shown in the demo is invite-only. It's listed on Tesla's website with the caveat that it is "not approved for public road use."

The gravity-defying stunts, flips, and barrel rolls shown off at Thursday's unveiling were performed without a driver in the car for safety reasons, and Musk described the vehicle as "not necessarily a safety-optimized car."

One thing that has been clarified is whether the Roadster's airborne capabilities make it an aircraft: "The Tesla vehicle does not meet the FAA's definition of an aircraft," a Federal Aviation Administration spokesperson told Business Insider.

By contrast, Tesla describes the Performance variant — which costs $50,000 to reserve — as "road ready" with its fan-suction system providing "next-level performance on and off the track." That suggests the goal is for the base version of the Roadster, at least, to be road-legal.

The limited-edition Thrust variant, meanwhile, is described as "race ready," implying that this version might be exclusively for driving on race tracks. That would not be unusual for a high-end hypercar, with Ferrari, Pagani, and Bugatti all selling track-only supercars that don't adhere to normal vehicle regulations.

2. It could cost more than you signed up for

Shelling out up to $250,000 for a Roadster reservation by no means guarantees that you will get one at that price.

According to the terms and conditions of Tesla's Roadster reservation agreement, the fees for the Performance and Thrust variants are only an estimate, as the company is still "working on what options, features and hardware the vehicle will have."

The final purchase price will be confirmed closer to the start of production, the document said, with the (fully refundable) reservation payment going toward the actual cost of the car.

3. Delivery is not guaranteed

The T&Cs also advise reservation holders that the Roadster is still "under development" and Tesla "cannot guarantee when your vehicle will actually be delivered or if it will be delivered."

This will likely bring back bad memories for Tesla fans who paid $50,000 to reserve the next-generation Roadster when it was first unveiled in 2017.

That version of the Roadster, a more conventional supercar that could still hit 0-60 mph in 1.9 seconds, languished in development for years and ultimately never entered production.

The delay caused some long-suffering reservation holders like Musk's arch-rival, Sam Altman, and tech YouTuber Marques Brownlee, to cancel their orders in frustration after waiting nearly a decade for a car that never arrived.

Tesla fans will be hoping that history doesn't repeat itself.

Editor's note: October 16, 2026 — This story was updated to include a comment from the FAA.

• Musk described his plans for the Tesla Roadster during a 2019 exchange with YouTuber MKBHD.
• On Thursday, the Roadster did exactly as Musk promised nearly eight years ago, leaping into the air.
• While Musk missed his own deadline by years, the technology on display was just as he described it.

It's been a long time coming.

Almost eight years ago, in January 2019, Elon Musk shared plans on Twitter for Tesla's Roadster to lift off using cold-gas thrusters and ultra-high-pressure air. On Thursday, the much-anticipated Roadster did exactly that.

Musk's 2019 assertion came in response to a user sharing a GIF of the DeLorean from "Back to the Future" hovering in midair.

"The new Roadster will actually do something like this," he wrote. Tech YouTuber Marques Brownlee responded: "The thing is I feel like you’re not joking."

"I'm not," Musk said.

He then described a SpaceX-made cold-gas thruster system that uses high-pressure air stored in a composite pressure vessel.

At a SpaceX test site in Texas on Thursday, almost 8 years later, a Roadster climbed a curved ramp, dropped, rolled through the air and landed on its wheels. It used the same basic technology: cold-gas thrusters fed by high-pressure air stored in composite pressure vessels.

The 2019 exchange was not Musk’s first mention of thrusters. In June 2018, he said the Roadster would include roughly 10 of them and suggested they might allow the car to fly.

When another user proposed compressed-air cold-gas thrusters, Musk said that configuration made sense and described a pump to replenish the air.

Musk's account of the technology has proved more consistent than his production timetable. Tesla unveiled plans for the second-generation Roadster in 2017 and originally targeted production for 2020. After repeated delays, Musk said in the reveal that production will begin in 2028.

The Roadster is not Tesla’s only vehicle to miss an ambitious release target. When Musk unveiled the Cybertruck in 2019, he said Tesla expected production to begin in late 2021. The first customer deliveries took place two years later, in November 2023.

While Musk has missed plenty of deadlines, many of his more improbable technology plans have made it beyond the drawing board. In December 2020, he said SpaceX would try to catch a returning Super Heavy booster with its launch tower.

Nearly four years later, the tower’s mechanical "chopsticks" caught one for the first time.

Musk has a habit of promising the improbable well before it is ready, but eventually, the improbable part arrives.

• Elon Musk's Tesla unveiled its new car, the Roadster, on Thursday.
• In its demonstration, the car took flight using thrusters and performed kickflips.
• Here's what smart people in tech and business have to say about it.

Tesla’s long-delayed Roadster finally made an entrance — by flying off a ramp.

At a livestreamed event Thursday night, the sports car climbed a curved ramp until it was upside down, launched into the air, flipped, and landed on its wheels, apparently aided by thrusters beneath the vehicle.

“Well, it worked,” Elon Musk said during the livestream.

Musk said Tesla and SpaceX engineers collaborated on the car, which uses high-pressure air and thrusters to lift itself off the ground. Tesla also showed a recorded demonstration in which the Roadster reached 60 mph in 0.81 seconds.

While the legality of such a device on public roads remains in question, the tech world is reacting to Musk's new creation with awe.

Here is what the leading voices in business and tech are saying about the new Roadster.

Jason Calacanis

Angel investor Jason Calacanis said in an X post that the videos of the flying car looked like "science fiction," and they're real, although they don't seem to be.

He seemed enthused by the demonstration, asking that while the car was only airborne for a couple of seconds, "what if it could keep you in the air for five minutes? Or ten? Or 30?"

Gene Munster

Gene Munster, the managing partner at Deepwater Asset Management and a longtime tech analyst, wrote his two takeaways from the Roadster event on X.

First, that "it was an engineering flex with no commercial value beyond embarrassing traditional car makers."

And the second was that it signaled Musk's ambition to merge his two publicly traded companies, SpaceX and Tesla.

John Carmack

John Carmack, the former CTO of Meta's virtual reality division, politely rejected the flying car.

"That demo involved a non trivial chance of embarrassing failure!" he wrote on X.

He added, "I'm only going for the baseline model. At this point in my life, rocket bunny hops are out of my comfort zone."

Marques Brownlee

Tech YouTuber Marques Brownlee, better known as MKBHD, appeared incredulous at Tesla's claims about the new Roadster.

"They really just got on stage and said this newly designed 4000+ pound car can do flips and go half the speed of sound (380+mph) and will ship in 2028," he wrote on X. "This is a prank, right?"

Alexandr Wang

Meta's chief AI officer, Alexandr Wang, had one burning question after watching Tesla's Roadster demonstration.

"wait who the hell was driving the tesla," Wang wrote on X, sharing footage of the car speeding down a dark track.

Dan Ives

Dan Ives, an analyst at Yorkville Ives and a longtime Tesla bull, said the Roadster reveal was "a statement about where the Tesla and SpaceX engineering stacks are headed together."

He wrote that the car's SpaceX-developed hardware was "a small example of the synergies between Tesla and SpaceX."

Still, he said, "The Roadster will not move the volume or revenue needle," but would "restore the brand halo at the top of the market."

David Marcus

David Marcus, the former PayPal president and Meta executive, credited Musk with bringing a sense of awe back to technology.

"The thing I’m most grateful to Elon for is bringing back an age of wonder and excitement to humanity," Marcus wrote on X, sharing Tesla's Roadster demonstration.

"That was jaw-dropping awesome! Screams and mouths wide open in the audience. Nuts."

Sam Altman

Sam Altman, the CEO of OpenAI, appeared to momentarily set aside his long-running beef with Musk to congratulate the Tesla boss.

"Wow the new roadster looks quite amazing, good job @elonmusk," Altman wrote in a Friday X post.

Altman had reserved an earlier version of the Roadster but said in October 2025 that he had canceled it after waiting 7.5 years, prompting a public exchange of barbs with Musk.

Musk was a cofounder and early financial backer of OpenAI, but he left the company's board in 2018 and has become critical of Altman's leadership.

• SpaceX says Grok is taking 20,000 Starlink customer calls a day — and closing 70% without humans.
• The company revealed the stat while touting its voice-capable agent.
• It's part of a race to build AI agents that love to chat — possible (likely, even) with each other.

Elon Musk's AI is a talker.

This week, Musk's combined AI-and-space-exploration company, SpaceX, announced a new Grok Voice model — and revealed that Starlink call centers are already using the AI-as-a-conversationalist technology to answer 20,000 customer calls a day.

The company said roughly 70% of those calls are resolved without humans.

Grok Voice agents are verifying customers, troubleshooting Starlink hardware, issuing credits, and shipping replacement equipment, the company said. Its AI agents can take on those tasks in multiple languages, too.

That makes Starlink a useful, real-world test case for AI voice technology — and particularly useful for its global expansion. The company says Starlink serves more than 6 million active customers around the world.

Instead of building a massive human customer-service operation to power call centers, SpaceX is betting it can serve its multilingual customers with AI.

SpaceX did not respond to Business Insider's questions about which languages Grok supports or what types of calls still require a person.

AI companies have been quickly rolling out more powerful voice models that do their best Chatty Cathy impression. In July, OpenAI released GPT-Live-1 with call-capable support, while Google has launched similar enterprise systems.

The same is true for AI companies that are focusing on consumers. Meta's Muse, for example, can also handle phone calls for those let into the beta feature.

So, soon, your bot may dial one for English — while a company's bot answers the call.

• Tesla has finally (re)revealed the second-generation Roadster.
• It's the automaker's new halo product.
• Musk has been hyping tonight's event, saying it's a contender for the "greatest product demo."

The Roadster has, at long last, taken off — quite literally.

Tesla unveiled its next-generation Roadster at a livestreamed event Thursday night, giving customers who have waited years their first fresh look at the EV maker's new halo car.

In a dramatic demonstration, the Roadster traveled up a huge curved ramp until it was upside down. The car then flew off the ramp, flipped, and landed safely on the ground, thanks to thrusters attached to the bottom of the vehicle.

"Well, it worked," Tesla CEO Elon Musk said after it successfully landed.

"Flying cars are real," Lars Moravy, Tesla's VP of vehicle engineering, added.

Musk called the latest Roadster a result of a collaboration with Tesla and SpaceX engineers.

The Tesla CEO said the car uses an "advanced ultra-high pressure air tank" to lift itself.

"The car has obviously altitude control thrusters and main thrusters in the rear, so it can basically fly like a rocket, and it could do rolls," he said.

In a separate recorded demonstration shown on screen, Tesla also showed the Roadster hitting 60 mph in under one second, marking .81 seconds.

Tesla shared more stats about the Roadster on X: a two-seater with about 300 miles of range and a top speed over 230 mph. Some of the configurations also appear to depend on whether the Roadster is equipped with "rocket" thrusters. For example, if the car is "air ready" and has the rocket, the Roadster seats only one.

There are also small details about the Roadster that notably diverge from Tesla's signature design choices.

The Roadster's door latches, for example, appear to be mechanical. Typical Tesla cars are known for their electronic door latches, which China is clamping down on due to safety risks.

The halo vehicle also appears to lack side-view mirrors, which raises the question of how the Roadster will be street-legal under federal standards.

Tesla's website lists three configurations of the car for purchase: performance, thrust, and rocket. The performance trim requires an immediate $5,000 deposit, with an additional $45,000 due in 10 days. The thrust version requires a $250,000 deposit. The rocket trim appears to be available only through "invite only."

Musk said the Roadster will be the only Tesla vehicle meant to be driven manually and that it's not "necessarily a safety-optimized car."

An observant audience member at the event also asked a glaring question: Is it street legal?

"Depends on your street," Musk said. "It'll be a viable car."

The long road behind

The revived nameplate has been a long time coming.

The original Roadster was Tesla's first production vehicle, launching in California in 2008. It used a chassis derived from British sports-car maker Lotus' Elise, but replaced its gasoline engine with an all-electric powertrain. That model ended production in 2012.

Musk surprised audiences in November 2017 at an event for Tesla's Semi truck by unveiling a second-generation Roadster. At the time, Tesla said the two-door sports car would have a 1.9-second zero-to-60-mph time, a top speed above 250 mph, more than 600 miles of range, and a gargantuan 200-kilowatt-hour battery pack.

That month, customers could put down a $50,000 deposit to reserve a Roadster, or pay $250,000 upfront for a Founders Series model.

Musk also floated a SpaceX package for the supercar with cold-gas thrusters that he said might "allow a Tesla to fly."

With the wait time creeping toward a decade, Musk apologized to "long-suffering" deposit holders in an earnings call, adding that Tesla was focusing heavily on its robotics and autonomy programs.

"Roadster is not just icing on the cake; it's the cherry on the icing on the cake," he said at the time. "We are working on it, but it has to come behind the things that have a more serious impact on the world."

Tesla began ramping up the Roadster's design cycle in the summer of 2025, Business Insider previously reported.

Musk had been hyping Thursday's livestreamed event on X. He claimed that event would be "a candidate for greatest product demo of all time" and that "the whole world will watch this."

• Ukraine's access to military-grade Starlink services is returning, sources told Business Insider.
• Defense ministry and parliamentary sources said on Thursday that Starshield operations had been at least partially restored.
• On Wednesday, Ukraine was caught off guard by sudden speed restrictions, affecting drone missions.

Ukraine's access to military-grade Starlink services appears to have been at least partially restored on Thursday, a day after Kyiv was stunned by sudden speed limits that it said hamstrung some drone operations.

Ukrainian defense ministry sources told Business Insider that Starshield services remained functional while in motion as of roughly 11:45 a.m. local time on Thursday, according to reports that they had received from military units.

The sources said the defense ministry is working to understand how and why there was a disruption to the operation of Starshield, SpaceX's dedicated satellite network for military services.

Yehor Cherniev, the deputy chairman of the Ukrainian parliament's national security, defense, and intelligence committee, told Business Insider that Starshield services had been restored to their pre-disruption capacity.

Ukrainian officials and service members were caught off guard on Wednesday by the unexpected Starshield disruption, which they said restricted speeds above 100 miles per hour. Some units experienced a loss of connection at speeds as low as 45 miles per hour.

The full extent of the service limitation remains unclear.

Yuriy, an officer with Ukraine's National Guard, told Business Insider that his units use Starshield to support drone operations and that speeds were back above 100 miles per hour as of Thursday morning. He asked to be identified only by his first name for security purposes.

However, Yuriy said that several operations were disrupted during the earlier restrictions.

Defense ministry sources said the disruption complicated mid-range strikes, air defense intercepts, and front-line logistics. Starlink does not work inside Russia, so the issue was limited to missions in Ukrainian territory or Russian-occupied territory.

The sudden Starlink disruption caused widespread confusion and raised questions about the source of the decision and whether it was connected to tensions between President Donald Trump and Ukrainian President Volodymyr Zelenskyy over Kyiv's targeting of Russian energy facilities.

Ukrainian forces use Starlink, the commercial satellite internet service run by SpaceX, and Starshield, a secure network for military and government work built by the company but operated by the US government. Some Ukrainian officials initially blamed SpaceX for the disruption.

In an X post on Wednesday responding to Ukraine's former defense minister, SpaceX CEO Elon Musk put the issue on the Trump administration, saying that Starshield was "owned and controlled by the American government." He said "any limits on speed or usage are decided by the US military and ultimately POTUS."

A senior US official told Business Insider Thursday afternoon that "no such request was ever made by the President."

The Pentagon has not responded to requests for comment.

Sprawling influence

The outage and impact on front-line operations have called attention to Ukraine's deep dependence on Starlink, which has become critical for battlefield communications and drone warfare.

As Business Insider recently reported, Starlink's rapid expansion has given Musk and SpaceX an enormous source of influence and soft power, and the world's richest man has not been shy about using that power in Ukraine to influence the course of the war.

Musk said in 2023 that he refused a request from Ukraine's military to activate Starlink to assist a Ukrainian assault on the occupied Crimean peninsula. Earlier this year, SpaceX clamped down on Russian forces' use of Starlink terminals in Ukraine, handing Ukraine a key battlefield advantage.

While support for Ukraine has varied, Musk has consistently been a prominent critic of the Ukrainian president. In an X post late on Wednesday, hours after responding to Ukraine's defense minister, he wrote that it was "time for Zelenskyy to go."

The sudden Starlink disruptions came as Ukraine faces growing pressure from the US, with Trump pushing Kyiv to halt its strikes on Russian energy facilities. The US president said on Tuesday that Washington had not cut intelligence sharing with Ukraine, another concern for the country.

Cherniev, the Ukrainian lawmaker, confirmed on Thursday that the US continues to share intelligence with Kyiv.

Meanwhile, Russia has intensified its ballistic missile attacks against Ukraine, firing dozens overnight. Recent attacks have targeted Kyiv and Ukrainian energy facilities.