Zuckerberg tops Musk, Jamie Dimon sells stock, Samsung execs work overtime: Leadership news roundup

The son of billionaire and Oracle co-founder Larry Ellison made his biggest contribution yet to one of President Joe Biden’s main political groups.

David Ellison, the CEO of Skydance Media, gave $929,600 to the Biden Victory Fund in the first quarter of 2024, according to a filing with the Federal Election Commission. Larry Ellison is a top Republican donor who contributed upwards of $31 million to GOP congressional candidates in the 2022 midterm elections. Larry Ellison, 79, has a net worth of $150 billion, according to Forbes.

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When a five-day workweek just isn’t enough to get the job done, it’s time to work weekends. Or so thinks Samsung Group, which is ordering its executives in South Korea to work a six days a week in a bid to raise its bottom line.  

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Jamie Dimon raked in more than $180 million from his sale of 1 million JPMorgan Chase & Co. shares.

The CEO made almost $33 million from the sale of 178,222 shares in the investment bank, a Securities and Exchange Commission filing dated Monday shows. Dimon had already sold about $150 million of his shares of the bank in February, according to an earlier filing.

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Elon Musk has spent his entire career making predictions about the future. Some of those ideas have panned out — mostly thanks to his brilliant team of people at SpaceX. But for every promise Musk has helped make a reality through a company like SpaceX, there are many more the billionaire would probably like people to forget about.

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Meta CEO Mark Zuckerberg is officially wealthier than Elon Musk as Tesla’s rapidly dropping stock tanks Musk’s net worth.

Zuckerberg’s net worth has grown by more than $47 billion in 2024 to hit $175 billion as of Wednesday, according to Bloomberg’s Billionaire Index. Musk, on the other hand, has watched his value drop by more than $55 billion to a marginally less $174 billion. The gap between the two men will likely widen on Thursday, as Tesla stock hits a new 52-week low and Meta gains value.

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As the Federal Reserve continues to cast doubt on the interest rate cuts many hoped it would carry out this year, Bank of America CEO Brian Moynihan is worried that people are too focused on the central bank.

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Six Republican governors are pushing back against the United Auto Workers’ big unionization drive in southern car factories. The governors of Alabama, Georgia, Mississippi, South Carolina, Tennessee, and Texas issued a joint statement decrying the UAW’s push to represent autoworkers in their states.

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Artificial intelligence could be a new gold mine for investment bank Goldman Sachs, CEO David Solomon said.

While there is a “broad consensus about the transforming potential of AI,” Goldman is already seeing an “enormous appetite” from clients for advising and supporting AI strategies and the potential for continuing work in the field, Solomon said.

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