there is a bigger billionaire on the block and his name is musk elon musk.fficially moving past berkshire hathaway's warren buffet to become the world's 7th richest person robert frank joining us now with how musk was able to pull past the oracle of omaha. i'm going to just take a wild stab that it might have had something to do with tesla's stock but i'm just literally reaching for straws here >> it's right. it's just on friday and added $6 billion to his wealth. that brings his total to over $70 billion. he's now the 7th richest man in the world. and buffet actually started the year $60 billion ahead of musk but buffet is down 20 billion and musk is up over 43 billion as you mention due to his 21% stake in that incredible tesla stock. now he could get another boost this month from his big pay package which is actually based on certain targets now musk got the first one back in may those were options valued at now about 1.8 billion. it's the second payment of the package if tesla maintains at $150 billion his current market cap is 286 and he gets another 2

there is always an imposter elon musk in the reply it's underneath.elves as elon musk. the trick people into sending bitcoins with the the holy grail of course it would be to get actual elon musk to twitch a bitcoins scale then it looks even more convincing and that is what the hackers have done in this case. this is an unprecedented attack because people have said it was people like elon musk or kim kardashian who got hacked but that is not entirely true. as we now know, it was twitter itself some of the staff that were hacked with that that makes this a lot more than usual and with the hackers, potentially a lot more lucrative and some commentators have said it is a surprise if anything that all they did was download a few celebrities private messages and post these bitcoins scams. a bit of a smash and grab. when really they could've potentially done a lot worse. it could've been a lot worse. thank you, chris. let 5 get some of the day's other news. the united states has condemned the decision by the hong kong government to put back territorial elec

musk is in theon news a lot again.ll discuss the short interest in tesla with bob sloan of s3 partners, next. this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn. the bellorted after yesterday, the company managing to stay profitable in the middle of the pandemic. our next guest is the founder of s3 partners, bob sloan. he has been tracking the short action on the stock. talk about the amount of short ,ositions active in this stock even all this time later. bob: elon musk is the lead actor in the biggest soap opera -- financial soap opera that has ever been. he is the modern day tony stark. he makes roofs, rockets, and cars. it is a controversial bet. people doubt him but he performs. we have never seen short interest as big as it is now. showingwe have a chart the price increases for the stock, the shorts have not gone anywhere. this is your proprietary data here. short interests is the white line, price in the yellow. who makes up these short interest positions? bob: it is a funny thing. against

that is giving elon musk a huge payday.ook at what the market cap has done, briefly surpassed $300 billion to become the most valuable auto company. market cap of $150 billion means that elon musk got access to about $1.69 billion option contracts. he cannot sell those for another five years. if he were, it would give him $2.1 billion. you can see elon musk's net worth went up significantly as of late. this quarter is if it can post another quarter of profitability. what it needs is a fool net profitability for an annual period. if it can do so, it meets the requirement of getting into the s&p 500. that would give it access to a lot of passive money and institutional investors that follow indexes. we are looking for a net profit here. francine: thank you so much. dani burger with the very latest on all of this. if we had time, talk to me about what else we are looking for. i know that snapchat post-e earnings yesterday. does their net loss make any progress? >> it actually widened. you can see this is that user growth. the

elon musk in terms of -- what if elon musk contributed to -- what has elon musk contributed to the unitedes? elon musk is creating jobs. we're rooting for him, maybe not the stock but -- maria: i'm still talking about tesla only paying half the rent. gianna cold well you want -- caldwell, you wanted to jump in. gianno: cruisin using the woe is -- the consideration of march and the stock tripling and there's not been additional cars. every company is doing this. every company when there's tax policy, they take advantage of it. so i don't see anything scheme-worthy in this situation. maria: okay. so what is it? gianno: well, it's a business practice that should be more transparent. maria: he needs -- what would you call it? he needs four straight quarters of profits to be included in the s&p 500, what do you call it, a plan? gianno: he should be more transparent about what took place. i think that's the conclusion that should be drawn. but still, a scheme is just pretty low. maria: absolutely. yeah. that we agree on. we'll be right back. tell us what you think, please. tell us a tweet on th

elon musk, millions of millions of followers, barack 0bama.llions of followers, barack obama. explain to us. for those who are not familiar with bitcoin and how this works. the account gets hacked and then what happens? what happened today the account gets hacked — let's say elon musk, one of the first — and tweets language that if you send an amount of bitcoin, i will double that and send it back to you. of course, that never happens and the account just keep that never happens and the accountjust keep that money. and typically, what is also included in that tweet is the wall that dress, age is a wallet is where you store and can receive and send bitcoin, so can receive and send bitcoin, so that address is included in the tweet and, yeah, that's basically how it works. so these tweets fishing for money, fishing for bitcoin, they come from the genuine account. do they look real? do they sound real? no, they don't. as someone real? no, they don't. as someone who has all of years, they are typically not in the voice of the actual account holder,

gene mentioned elon musk and using his account to tweet information.s get in and tweet material information, who's on the hook for those stock moves whether it be up or down i'm thinking mostly down there's a whole other host of issues involved here. >> yeah. it's not just the founders or executives obviously there's a lot of investor relations of lots of public companies that use this for a news wire for all intents and purposes i think it's also important to remember this may not be twitter's fault. this may be a very sophisticated phishing operation where these people were targeted and their passwords were fished from them not through twitter. this may have nothing to do with them as far as a hack is concerned. just one other point about these ad dollars, twitter is going to do maybe $3.3 million in sales most of that is advertising. it really is a rounding error when you consider what they do with facebook and what google does on the ad front and online. to me, the value of twitter is the scarcity of its platform and the importance of it if you chi

vaccine this while his own national security adviser had tested positive for the virus that deal on musk is coming under fire for expressing on twitter his tacit support for a who in bolivia and the country's huge reserve we're going to discuss all that more coming up all right it's time to shoot your looms i. told you the latest hitler tap battle between the united states and china now includes the closure of consulates in each country with officials accusing the other side of being in the wrong this as questions surround the future of the u.s. china relations and the massive trade deal between the 2 countries parties rachel blood is joining us from the newsroom with the latest details on this rachel. china announced it china now as it has moved to close a u.s. consulate in the country southwestern province and days after the u.s. issued an order to close china's consulate in houston texas for some very trying as foreign ministry says the responsibility for the latest escalation lies entirely with the u.s. and he accuse the trump ministration of violating international law. the premises

elon musk, jeff bezos, and bill gates were all victims of a major hack on twitter.d to promote a cryptocurrency scam, sending out tweets like this. high—profile political figures were also targeted, including barack obama, joe biden and former presidential hopeful mike bloomberg. married mega celebrities kim kardashian and kanye west also compromised. this wasn't about fraud, i don't think, i think it was more about, you know, doing the hack. in the hacker community, we would actually call those type of hacks a little bit lame. twitter quickly took action. the scam tweets were removed, the company posted this... this is a serious security issue for twitter, i mean, these are power users, these are users that people come to see and read, people like elon musk or kanye west orjoe biden, barack obama, bill gates, these are figures that use that platform on a daily basis and the fact that twitter couldn't keep that secure is a massive issue for them. experts say they could see more than $100,000 worth of bitcoin was deposited into the scam account. once it is there, vic

i've been a fan of both elon musk and warren buffett. traded the way they trade, invested the way they both invest. this changing of the guard so to speak is absolutely fantastic. i want thoughts from heritage capital paul schatz, courtney dominguez, senior advisor pour payne capital. by the way i'm not affiliated with payne capital. courtney, amazing day with nasdaq at a all-time high. elon musk to pass warren buffett, who sat on $130 billion for almost all of this rally. the differences reflect the difference in investing styles. old wall street missing a rally, old young millenials rocking and rolling. >> i have all those friends, associates, everyone thinks they don't have a lot of cash on hand a lot of them do. they're definitely interested in getting invested. i agree with your point. they're really seeing them comb in. tesla is interesting. it is pretty expensive. trading 430 times forward earnings compared to the s&p 500, only 27 times forward earnings but you do have a lot of good signs i think in the short term. for example, th

a lot of the answers had to do with elon musk >> i love that, phil people love it because of elon musk. >> name one other brand that -- >> exactly what is the new name of fiat and peugeot? interstellar >> that's for the holding company. >> phil, stale right there 4re9's take more about tesla an run. tim higgins -- what was the significant of the including so what would the significant be for the stock if it joans the s&p 500? >> for the stock and investors, it's now that you have a number of funds and fund managers who have to have holdings in their particular fund. they will include teslanow that theoretically will give the stock a bump and further support. also, for elon musk, i think it's important to know for the longer time, he has sought out validation from the broader market but clod is true validation. >> which in a lot of people said. >> phil, the tesla brand has had ups and downs. some years ago, i believe consumer reports called it the nearly perfect call, but more recently there have been problems with did. >> so why do so many people still go out and buy the car you're sch

they say conditions started to shift after tesla ceo elon musk sent out a tweet may 9. >> threatened to leave the state to texas. and we saw a change of mind. >> reporter: tesli, which employs 10,000 people at its plant was initially forced to shut down but elon musk battled with the county. nine days later they were allowed to reopen. employees received an e-mail from elon musk they could stay home if they felt uncomfortable or ill but he said it is not an option for many. >> told to get back to work or that is it. that is it. >> reporte: we reached out to tesla for comment and have not heard back from them tonight. andrea nakano, kpix 5. >>> tonight the bay area has a record high number of hospitalizations due the virus. 633 patients, according to officials. and that is a 6.6% jump in one day. alameda county is expected to be added to the monitoring list tomorrow. and that is going to mean tougher restrictions. worship services and malls will have to close for three weeks. the county has the highest number of cases in the bay area. more than 8300. >> i would describe it as a steady

a musk ox and now he's even got one named after him. this is trimmed back a 4 week-old musk ox calf at the point defiance zoo and aquarium in tacoma washington trim back. the man not the mammal says he likes the way their furry coats wave in the breeze within a run. you better just hope they're not running at you for take a look at this on britt conway. >>county fairs are canceled this year because of the coronavirus pandemic but you can still get your fair food fix in the north bay, the marine county fairs holding a fair food drive through this weekend. today through sunday you can drive right into the parking lot at the veterans memorial auditorium in sandra fell and order all of your favorites anything from kettle corn to funnel cakes. you can order off of the menu and then the treats will be delivered safely to your car. the drive-thru fair is open from 11:00am until 8 at night. this weekend also next weekend to sign me up for some funnel cake cotton candy, corn dogs. sounds good. that wraps up kron 4 news at 6 i'm justine waldman t

elon musk commands attention o too.rview, a baby with an incomprehensible name. he can dance, too. he's very much part of the new american business leadership. amazing. the 49-year-old musk is now worth more than warren buffett who turns 90 in august. musk represents a changing of the guard. it's interesting that he's an immigrant. he was born in south africa. he only settled in california in 1995. within four years he founded a software company and sold it for $340 million. he started spacex in 2002. tesla motors in 2003. what a wild ride, and how american. where else in the world can you go so far, so quickly. where else in the world can new ideas attract so much interest and support. i don't know where tesla's stock is going and i don't know the future of the electric car market, but five hours from now, we'll have a better idea. tesla reports at 4:00 p.m. eastern and get this, if tesla shows a profit, musk gets a $2.1 billion payout. the seventh richest person in the world, the most valuable car company in the world

bill gates, elon mufpk and warren buffett were among those. -- elon musk.re was a link to an apparent scam. they suddenly lost the ablete ability to post new tweets. company says most are working again. semiconductor manufacturing, apple's main iphone chip maker reported a growth margin of 53% also beating stims. -- estimates. helping jouf set lost business from its number two customer huawei. american airlines is telling 25,000 staff they could lose their jobs once government aid expires at the end of september. that is under 1/3 to have total workforce. the carrier blaming the coronavirus that is still battling the travel industry. the final number of redundant people will depend on how many workers take an early out and leave options. that is your bloomberg business flash. yousef ? yousef: thank you very much. let's get into the e.c.b. discussion. policy makers are widely expected to keep stimulus steady in today's meeting. christine lagarde will face questions whether it will be sufficient to boost the recovery. they expect the banks to do more by septe

lee: listen, i think that elon musk is a pr provocateur.lf in the middle of things you wouldn't expect a typical ceo to get involved in and he causes an interesting conversation to happen. i think he's not wrong. special interests have no place thein this kind of thing. it becomes difficult to fight it because we're under a very, very tight deadline. people need relief and the party that's going do fight on this is going to have a big issue. so i appreciate the fact that he's entering in conversation, causing debate to happen but i think it's a tough way to handle it when there's a few days before congress takes a place. dagen: hasn't elon musk gotten behind universal basic income? john: he getting his own support for the tax credits, if you buy one of these electric vehicles, so to some extent he has benefited from government subsidies, if you like. i'm not sure about his support for universal income. sometimes it feels as though we're moving in that direction. but eventually markets may frown on any further expansion of government subsidi

elon musk is building that kind of tunnel in las vegas.eeted out that rendition of what the tunnel will eventually look like. >>> now, let's bring in susan here. i understand that dr. birx who i think of in terms of the virus and medicine she's warning las vegas about something? what's she saying? susan: in a private phone call with local leaders in 11 major cities and yes, that does include birx is advocating aggressive steps. she says to try to slow down the new coronavirus outbreak and that extends to las vegas but also baltimore, cleveland, miami, new orleans, minneapolis, pittsburgh and other big cities as well especially with this surge in new coronavirus cases, and that means less travel fewer people are heading to the vegas strip. so roughly 350,000 visitors actually went to clark county and those are the casinos which include las vegas on saturday that's theowest saturday count since casinos reopened at the start of june june 4th according to jpmorgan. compare that to the more than half a million vegas casinos over the july 4th in

caroline: elon musk has been hacked twice it would seem.tcoino, the hack seems to have a card. -- it does not even make sense, the tweet. it is offering to make bitcoin payments. he sent $1000 to one payment. elon musk, bill gates. apple seems to be playing up. twitter falling after hours. joe, you are the resident crypto expert. >> it is striking because people get hacked on twitter from time to time. crypto hackers like to do this kind of stuff. this might be an actual hack out of the accounts but in some way of twitter itself. a lot of these accounts seem likely to have had some sort of dual factor authentication. somewhere, it might be on twitter's side. do not send your bitcoin to random accounts even if it is elon musk or bill gates. please, people. taylor: great investing in vice, joe -- investing advice, joe. joe: that is not usually my job, at i give that advice. taylor: it was interesting. cloud flare had flagged this is a fishing site. it looked like it did come to oo late. some of these had the two type authentication to prevent

anytime elon musk talks about it , he's most likely lying.e may be lying to himself because he doesn't even know. in terms of the stock, is it baked in or not? i think it is. it is baked in that they are going to get there before anybody cares about the fact that the numbers right now are outrageous regarding selling cars. romaine: always great to have you and get your insights on days like today. leigh drogen, estimize founder and ceo. we will go to the other end of the spectrum and talk about bankruptcy with the father, the creator of the geforce, edward altman. that is coming up next. this is bloomberg. ♪ >> welcome back. more.s. has seen bankruptcies year to date than any full year since 2009. filed byuptcies companies. our next guest is edward altman. he is a director of debt market research at the nyu solomon center. i want to start off with this idea that we are not in a normal recession. the amount of fed, fiscal policy support differs in a much more fundamental way than in previous recessions. people continue to buy lower rated compa

elon musk, jeff bezos and bill gates were all victims of a major hack on twitter. popular accounts were used to promote a cryptocurrency scam, sending out tweets like this. i'm giving back to my community, due to covid—19. all bitcoin sent to my address below will be sent back doubled. if you send $1000, i will send back 2000, only doing this for the next 30 minutes. high profile political figures were also targeted, including barack obama, joe biden and former presidential hopeful mike bloomberg. married mega—celebrities kim kardashian and ka nye west were also compromised. this was not about fraud, i don't think, i think it was more about doing the hack. in the hacker community we would actually call this type of hack a little bit lame. twitter quickly took action, the scam tweets were removed, the company posted this. this is a serious security issue for twitter. they are power users, people that people come to see and read, people like elon musk, joe biden, kanye west, joe biden, they use the platform on a daily basis. they are figures that use the platform on

figures, including elon musk and bill gate. jack dorsey called it a tough day. welcome. it may have been a tough day for twitter, but it is also shaping up to be a tough week for tech stocks in general. the nasdaq leadership we have seen falling back a little bit this week. nonetheless, we did see a little bit of strength come through on the s&p 500. today, we are seeing a little bit more risk off sentiment across assets. perhaps to do with concerns around the china data, particularly around the retail sales question. asia, the screen and particularly in chinese equities. the 10-year yield is steady. you are seeing the dollar steady after a couple days of weakness. also perhaps the fact that we are seeing a little bit of softness in crude. it did close that a four-month high yesterday, shrugging off plans by opec-plus to taper production curves. let's get to the first word news now. coronavirus cases continue to surge in the u.s., with california reporting near record cases and fatalities. the world's biggest retailer is to require customers to wear masks at its stores.

barack obama, joe biden, elon musk, apple, and many more. each tweet providing the public with a bitcoin address. which we've removed for this report. >> so the fact that so many of them were compromised at the same time, such a short period of time, leads people to think now that there is some administrative issue on the twitter side itself. >> reporter: dan ackerman was seen at classifies wednesday's hack as the biggest breach he's seen twitter tackle. the company posting, we detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools. twitter temporarily limited users' abilities to reset passwords and prevented verified accounts like my own from posting. >> when you endanger that platform and the trust that you presumably give to these so-called verified accounts, you know, that makes the platform much less useful for people. >> they're in trouble. there's no question about it. this is a big issue for them. this is a big deal. >>

you don't know what elon musk will say he is a rock star. an obscure rock star but a rock star nonetheless i do know not what kind of secret sauce they sprinkle on that stock to make it do what it has been doing it really is nuts. our clients really love the story of tesla they love the esg play yesterday on the call, elon musk was all about innovation and i think he offered up a contract to companies that can sustainablely mine nickel. he put a call out for engineers that want to be on the cutting edge of design it's an earnings call like no other. we do own it we have held onto it it has done very well. s >> you think in. >> this was purely client driven i can't explain it i don't have a formula to figure it out >> can the momentum keep going the stock performance speaks for itself he's run over and made fools of people who have bet against him. the question is can this really continue or is this a picture of what will end up being one of the more unsustainable stock stories that we remember in 2020 >> together it produces 60 times the num

one catch, musk can sell shares for five years -- musk can't sell shares for five years. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> we need some better fundamentals. until then, i think stay-at-home tech stories, secular growth in a lowered environment will continue to perform and continue to see buyers on dip. ofathan: mona mahajan there allianz. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your price action shaping up as follows here in new york, around one hour and 12 minutes away from the opening bell. equity futures down four, negative a little more than 0.1%. on the bond market, yields in a single basis point to 0.59%. $1.1578.ar, we advanced towards $1.16. aussie dollar very much top of the pile in g10. senator review says -- senator rubio, on china, says that the houston consulate is "a major spy center." for our audience just tuning in, china has been ordered by the united states to close dow

elon musk just tweeting hi. it appears the tweets that did not belong to him are removed. continue to follow this. stay to bloomberg television. bloomberg daybreak australia is next. this is bloomberg. ♪ >> good evening from bloomberg world headquarters. counting down to major market opens. i'm shery ahn in new york. haidi: i'm haidi stroud-watts. welcome to "bloomberg daybreak: australia." u.s. stocks hit a one-month high on optimism about a virus vaccine. shares dragged on u.s.-china trade tensions but the s&p hot 500 briefly ends in positive territory. the pandemic rages on with the

may show elon musk dancing again. be prepared. you're watching "squawk box" on cnbc >>> coming up, a big step forward tore disney. opening the doors even as virus cases surge to new records in the sunshine state we'll bring you a live report righaft ter the break when squawk returns after this. now is the time to support the places you love. spend 10 dollars or more at a participating small business and get 5 dollars back, up to 10 times with american express. enroll now at shopsmall.com. >>> disney world is now open again. open visitors were back to the magic kingdom and animal kingdom even as new covid cases were spiking in florida a big step for the company that relies heavily on revenues from its theme parks. julia boorstin joins us now with more you always thought, wow, what a great business model they don't have cable, broadband. got all of this other great stuff. whoa, i don't know anymore then it turned into a perfect storm, right, julia? >> reporter: certainly just remember, joe, that they opened this weekend as florida r

onto the global internet of which billions are connected then you can control the masses and is elon musk a megalomaniac with armed with invincible weaponized means that's a possibility that we have to discuss that that could be the situation but he's definitely talking about doe's coin a lot which is a just a pure mean coin so he has been thinking about means and in terms of this artificial intelligence they say that i predict that unlike a 2 predecessors p.t.b. and open a i.g.p. to open a i d p t 3 will eventually be widely used pretend the author of a text is a person of interest with unpredictable and amusing effects on various communities i further predicted that this will spark a creative gold rush among talented amateurs to train similar models and adapt them to a variety of purposes including mock news research journalism advertising politics and propaganda so this is open source and. obviously that's the way the us does it peter steele and both work for the u.s. government various department of defense are agencies in other parts of their work so this could be a way to you know a

best buy is booming and elon musk is a board vote away from cashing in because he's struggling so badly there in beverly hills. thankfully he'll get a little money to patch him over. >> the idea that he's richer than warren buffett blows people's minds let's get to some of those stories snap ink reporting a loss the slowest since the company's initial public offering in 2017. the daily user growth fell short of the initial forecast when the growth in the early days faded faster than expected the early impact of the facebook ad impact has opened the door for the company to have talks with high level executives >> best buy sales are up 2% driven by a surge in online shopping sales have jumped more than three fold now sharing at an all-time high up 3%. as pointed out, elon musk has qualified for a $2.1 billion payoff the second following the massive surge. the company's six-month market cap has reached a trillion triggered the second of vesting traunchs to buy tesla's stock at a deep discount. a report after this closing bell today. if it reports a profit, it will meet a major market neces

why should i believe you over elon musk?think elon musk has done some of the coolest things in the world. landing a rocket in the middle of an ocean, building tesla, but you know, when you start thinking about why batteries don't work for commercial vehicles long term, especially things like class three to class a trucks, fuel cells are one-tenth the size and much lighter so as dhl told me, do they want to be carrying batteries around in their delivery vans or do they want to be delivering packages so i listen to dhl people buy products. i got to tell you, i'm hoping one day mr. musk buys from plug power because we would be happy to work with him. >> very exciting i have been a huge believer in the gar air products you bought a hydrogen company. how did you get that and where does it make it fit in to make the end market product cheaper and more fficient? >> so jim, first i am the biggest seller of hiydrogen for fuel when we look at competitive landscape long term, so much of it has to do with the lower cost renewable's and

no one beats expectations quite like elon musk and tesla that company delivering nearly 20,000 more cars than predicted in the second quarter and that stock is surging to an all time high we'll have more on tesla's big move in a bit. right now, power lunch begins. >>> yes, it does the nasdaq at a record high today. the s&p is about 7% below its all time high. let's get to dominic for more. >> the markets like that camera, were higher. they are coming down now but still in positive territory. at the highs of the day is dow is up roughly 469 points they are up 277 right now. pretty much 1% gains across the board. the s&p 500 hovering right around 3150 and the nasdaq, we'll put a star next to it here because it's created a new record intraday high two places in technology that are really moving. check out these etfs first trust dough jow joan inte. every single one of these tech oriented etfs has hit a record high some of it is covid related but watch those moves. both of these showing pretty strong gains opinion surging in today's trade. good time for some companies tyler, to be in the ipo

nations and then crashed down to 0 at the athens expired you know eli musk in the bed of a robin he's the pied piper of this robin a generation because he openly mocks the i think say the securities and exchange commission he openly marches on stock price he said it was a sale you know many dozens of percentage points lower and he mocks everyone by endorsing various all tointon except the coin market any his company is worth one point almost $300000000000.00 so this is the new normal charlie i mean i understand what you're saying that it's too bad these people are getting you know losing their shirts and getting ripped off but the culture has now turned into an icon a pied piper trading you know i mean as opposed to any underlying company that might be worth anything charlie yeah totally and you know we're talking about one specific company but this is bigger hope that the case now you've mentioned across the songs which is that there's really no effective regulation since the 200-2000 rights i was 2 sides so it's for a safety trade that's quite interesting that there are options trad

only the tweets came from verified accounts including barack obama, elon musk and others.the biggest concern is twitter itself was hacked and not individual accounts. >> it is a terrifying moment for twiter. >> normally when you see the scam, it is coming from the address of someone whose name you don't know. it is not coming from elon musk. >>> the fbi in san francisco is heading out the investigation. it says the accounts appeared to have been compromised in order to perpetuate crypto currency fraud. we advised the public not to fall victim by sending crypto currency or and money. >>> coming up next, the town that is battling to make it through the summer because of a severe water shortage. >> we will keep tightening the screws to the customers in terms of restrictions on usage. >> if we have rt d, so be it so we'll board super spread situations. >> i think it is ridiculous. >>> to close or not to close. by the beaches have become a hot button issue all over again. later they may not look like much but these strange images are a >>> a battle brewing in san mateo county r

. >> the president taking credit for tesla's new factory near austinteg fox news he urged elon musk to build in texas and musk thanked the president on twitter. >>> the big traffic jams tonight at the opening of a popular fast food restaurant on the peninsula. plus the bay area actor playing a virtual vendor tonight. hands, there is no crying in baseball. >> hot dogs, hot dogs here. colossal hotdogs. >>> we want the public to be aware and this is already starting to affect mail and packages. >> struggles at the post office ahead of the november election ♪ this virus is testing all of us. and it's testing the people on the front lines of this fight most of all. so abbott is getting new tests into their hands, delivering the critical results they need. and until this fight is over, we...will...never...quit. because they never quit. and geico loves helping riders get to where they're going, so to help even more, geico is giving new and current customers a fifteen percent credit on their motorcycle policies with the geico giveback. and because we're committed for the long haul, the credit

as is the tesla ceo, elon musk, given the runup in that stock. up about $25 billion in value over the last week or so. so a lot of these cities, states, even the country, might be looking at this as a convenient source of money and a lot of it. what do you think? >> yeah. and of course, we know that so many small businesses in america are suffering as well as other big businesses, but some like the tech sector especially are actually doing quite well under the lockdowns. people are staying home, ordering in, streaming, so yeah, some of these companies and the people who own them are doing very well and it is going to be tempting, but again, if someone like jeff bezos, he already, you know, left seattle in a way for another home in washington after he bought "the washington post" so it's obvious that these people have places to go. when you are that rich, you can go anywhere in the world. i think it will be tempting to want to get money from them but it's also very dangerous. again, it's killing that goose that laid the golden egg. certainly i thi

elon musk takes on the fashion industry and his latest release causing a few raised eyebrows. >>> and looking live outside this morning at the bay bridge, time now 4:40. you spoke. we listened. tiny tacos are back for good! grab a box of 15 or try them loaded. get 'em now with no contact delivery. grab a box of 15 or try them loaded. this virus is testing all of us. and it's testing the people on the front lines of this fight most of all. so abbott is getting new tests into their hands, delivering the critical results they need. and until this fight is over, we...will...never...quit. because they never quit. grab a box of 15 or try them loaded. get 'em now with no contact delivery. >>> investors have pushed stocks higher despite a rise in u.s. coronavirus cases threatening the economy. over the weekend, mayors from some of the hardest hit cities in the south and west warned their hospitals are at risk of being overwhelmed. >>> the troubled boeing 737 max jet is expected to start its next step towards returning to service. according to the wall street journal, the operational readiness

i think there are bold promises from elon musk and not backed by much reality. i would bet on the decline. charles: tell you what, all right, you bet on the decline. $20 billion says this stock is short. liz claman, it's going to make -- options are saying it will move 20% up or down after these earnings come out. liz: thanks for the direction. it's like i love when they say that. 20% either up or down. thanks. thanks for the clarification. charles, love it. thank you so very much. we do have to say that we might have seen higher moves here but investors are feeling the heat of new claims of u.s./china tension. on your screen, the smoky scene at the chinese consulate in houston last night, coming as diplomats reportedly took to burning documents just hours after the state department ordered the diplomatic outpost closed. as we head into this final hour of trade, china's biggest names, many of them trading on the almighty nasdaq, getting caught in the crossfire. though it is america's tech titans that get quite a bit of credit for the nasdaq taking 2020 by storm,

figures including elon musk and bill gates. they called it a tough day.e start of the european equity trading day. it could be a tough day. european equity markets expected to be under pressure today. a few crosswinds in term ovs geopolitics between the u.s. and china and we have sort of recovered from our overenthusiasm about vaccines yesterday. the stoxx 600 opening to the downside. he ftse 100 down by .2%. we have some weakness at the start of the european equity trading day. some of the companies -- lerting us to ahead. heineken opening down. e see some weakness there. stumbling there morning, down around 3%. numbers coming through. numbers looking dire for these luxury companies. very interesting to get the narrative around their outlook were it possible to keep one. all of those other masses. keeping an eye on what is going on on chip companies. we don't see a lot of movement. just moving really with the markets. european equity market move there you go the downside. policy makers are widely expected to keep the stimulus open. the president will fac

they accused ceo elon musk of covering up a covid-19 pandemic in the fremont plant behind me. they want the plant shut down for a deep cleaning and asking the alameda county health department to do contact tracing instead of tesla performing the function. the workers will protest outside the health department in oakland. you'll recall yesterday we reported on three former employees who were fired after accepting tesla's offer to stay at home over fears over the coronavirus. when musk reopened his factory in may, he did send a letter to his employees that if they, quote, feel uncomfortable coming back to work at this time, please do not feel obligated to do so. by the end of june tesla told those workers they abandoned their jobs and fired them. one had a newborn with respiratory issues and one had recent heart surgery and tesla has not responded but in a public hearing that it is not true that they fired those employees. incidentally, "forbes" is reporting that tesla is the most valuable car company in the world. reporting live here in fremont, bob redell. >> all right, bob, t

the message that was on musk's twitter reads in part quote, feeling grateful, doubling all payments sent to my btc address. the tweet also had a link where people can donate. >> it appears that they got over $115,000. not bad for an hour's work. and all ready, they've about more than $50,000. one of the key things that this raises questions about is how much we can trust twitter at all. >> well, twitter says it's working to fix the issue. and so far, there's no word on who was behind this scam. . >>> still ahead on kpix 5 and cbsn bay area, a sea plane business grounded after someone reported it was not covid safe. >>> are snitches doing more harm than good? >>> plus a young man in the south bay found dead at an apartment complex. what police know so far. . >>> and notice the hazy skies, that's not the usual bay area fog. the fires we're keeping ab eye on tonight. . >>> the fog is also making its way back in over the bay as we look to the east from sales force tower. this is the only camera we can use. because the others are just fogged in as the marine layer is making its way back in. w

and elon musk's next payout. the tesla ceo qualifies for $2.1 billion more as the market value reaches another new milestone. the big test comes today as they report earnings. under one hour away from the start of cash trading in europe. let's take a look first off at futures. they are down. looking at jobs of about .25 to .33%. the euro is one of the most interesting stories today. what do you see on the gmm? got a little bit of weakness coming through in the asian session, down .2%. some breaking news. i mention it because it is good news. operating, a business in u.k. retail, i had to read this twice to make sure i was seeing it right. they say their half year is ahead of the prior year, which is quite something even where we have been. kingfisher is continuing to experience strong demand. back to that question around the gmm, what we see on the screen coming through is that the asian session is quite mixed. we see a move to the downside driven really by us trillion, singapore, both -- by australia, singapore.

bernie sanders calling elon musk is hypocrite.elfare, he stops 30 million americans who lost jobs receiving 600 bucks a week in unemployment benefits while his wealth has gone up $46.7 billion over the past fourth months. pathetic he says. we went through the numbers. the brain room came up, looks like musk's electric car company received total subsidies of $2.4 billion in federal, state, local grants. half a billion dollars comes to federal loans. as for space x's, musk's private venture, $5 million in subsidies, but close to five billion dollars from funding in nasa, contracts, research development. there could even be more, spacex and elon musk venture starlink, provides broadband for rural areas is looking to compete for $16 billion in government broadband subsidies. tesla's 300% rally made musk a very rich man. in fact the 5th richest on the planet. stuart: that is what senator sanders objections to, a man worth 80 approximately dollars. tesla up another 43 bucks. rich guy. thanks. >>> workhorse group, they make electric cars

musk. there.kay don't waste your time with anybody else. >> we do have at least one upgrade today as analysts play catch up cowan goes to market perform, they say we fully admit we've been wrong the last few years and the shares tend to work. they add when new things are coming musk did address the topic of profitability last night here is what he said >> we need to, you know, not go bankrupt, obviously, that's important because that will fail in our mission but we're not trying to be super profitable, either obviously profitability is like 1% or something, you know, 1% or 2% it's not crazy last quarter was only .1%. so we want to be profitable, like i think we want to be slightly profitable and maximize growth and make the cars as affordable as possible that's what we're trying to achieve. >> jim, it's remarkable still for a company that has 1% of the global market, market cap of tesla is basically, what, three times the s&p auto sector. >> i think people if you listen to the call you think it's

musk has said fremont in california, the other u.s.ar production plant, contributes around $5 billion to the state's economy and this is one of the few major car plants to be built in the u.s. over the past decade. it will make the cybertruck, the new semi-truck and the model 3, the y, for the eastern half of north america, slated to start production next year. texas governor greg abbott said that tesla didn't receive any state incentive to locate in texas, but we know that austin approved tax incentives totalling around $16 million over several years. i'm sure the full package of incentives in terms of wage, tax relief, property taxes, will be a lot more. think about it. nevada offered $1.4 billion in tax incentives over several years to get their giga factory. trump is right that elon is getting it done. that's what he said last night. we know that president trump and musk agree on numerous issues like their love of twitter, manufacturing in america and less red tape but they do disagree on a lot of topics as well, including immigrat

the accounts of joe biden, barack obama, apple, elon musk and many more, compromised. >>> new body cam video of george floyd's deadly encounter with police, what it shows and the new lawsuit filed today. >>> the double threat as we head toward fall covid and flu season, all at once. what doctors are pleading with the public to do. >>> and our correspondent's own battle with covid-19, the symptoms doctors are only just beginning to understand >> announcer: this is "nbc nightly news" with lester holt. >>> good evening, everyone, what if there was a magic bullet that could bring covid under control in two months or less? according to the head of the cdc we already have one and you're looking at it. dr. robert redfield saying if we all wore masks well i'd likely be telling a very different story than the one we're sadly leading with tonight and that is covid spreading at its fastest pace yet, the nightmare of hospitals overrun is coming true let's start with miguel almaguer. >> reporter: tonight inside hospitals in the nation's biggest city. >> i, myself, am preparing for every shift like

todd: a twitter hack targets famous users like barack obama, kanye west and elon musk.does this say about platform security as we get closer to the election? harmeet dhillon on that next. >> your house is breathtaking. >> i know. you said it looked like a dump from the outside. >> iconic tv house up for sale, the price tag for this golden home. ♪ guys, are you tired of frequent nighttime bathroom trips? well, force factor prostate helps reduce urges to urinate, plus fully empty your bladder and promote a normal prostate size. don't settle. choose force factor prostate, from the #1 fastest-growing men's health brand at walmart. jillian: a look at top headline to the white house sending a message of law and order as violent weeks have taken the nation's city. the president hinting federal intervention could be coming, for democrat led war zone cities. the national association of police organizations endorse the president, the group endorse the obama biden ticket in 2008-2012. talk, man is behind bars for torching the east police precinct. thomas will be senior poured gaso