Tesla Inc.’s board amended its policy around pledging shares, capping the total loan amount that Elon Musk can collateralize with his stake at the lesser of $3.5 billion or 25% of the value of the stock. In a proxy statement filed Thursday, the electric-car maker described a policy that deviates from previous filings and singles out Musk, Tesla’s chief executive officer. The maximum loan amount secured by pledged shares can’t exceed “with respect to our CEO, the lesser of $3.5 billion or 25%...

Greg Becker sat in a red armchair at an invite-only conference in Los Angeles last week, legs crossed, one hand cutting through air. “We pride ourselves on being the best financial partner in the most challenging times,” SVB Financial Group’s chief executive officer told the Upfront Summit on March 1, a day before his firm was up for Bank of the Year honors at a London gala. Just a week later, it all fell apart. SVB’s collapse into Federal Deposit Insurance Corp. receivership came suddenly on...

A group of global billionaires worth at least $123 billion are buying a stake in Thrive Capital, the venture-capital firm founded by Josh Kushner. India’s Mukesh Ambani, Brazil’s Jorge Paulo Lemann and France’s Xavier Niel will join KKR & Co. co-founder Henry Kravis and Walt Disney Co. Chief Executive Officer Robert Iger in investing $175 million to purchase a 3.3% stake in Thrive. “These extraordinary operators have built storied institutions, achieved geographic preeminence, ushered beloved...

Elon Musk was the second person ever to amass a personal fortune of more than $US200 billion ($286 billion), breaching that threshold in January 2021, months after Jeff Bezos. The Tesla chief executive officer has now achieved a first of his own: becoming the only person in history to erase $US200 billion from their net worth. You have reached an article available exclusively to subscribers. New Year Sale. Save over 50%. Turn resolutions into actions and subscribe for only $6 per week for...