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Tesla's profits beat expectations, but Elon Musk says big costs are ahead

2026, in Portland, Ore. **Jenny Kane/AP** Jenny Kane/AP Tesla's first quarter earnings beat Wall Street's expectations, with profits coming in 16% higher than the first quarter of last year. The results briefly sent

Number of billionaires globally could reach 4,000 in next five years

profits from the world of tech, particularly artificial intelligence. “The ability to scale a business has never been higher,” he said. “That has fed into the ability to make big fortunes quickly, supercharged by tech