Elon Musk Lands Another ‘Moonshot’ Pay Deal

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 23 April 2026

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for April 23. SpaceX is expected to go public in June, and the move could mean big things for CEO Elon Musk. The company’s board has already granted him a “moonshot” pay package, and he’s expected to control the company through supervoting shares. Journal reporter Corrie Driebusch discusses why investors are all for it. Plus, it’s a gloomy day for tech workers as Meta plans to lay off 10% of workers while Microsoft offers buyouts. And the Trump administration reclassifies marijuana as a less dangerous drug, which could be a boon for the multibillion-dollar cannabis industry. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Explore our series on the financial realities of divorce. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Access to affordable credit helps me pay my employees, but I don't really need it.
0:05.0	Infliction is killing me!
0:08.0	But who cares? Big retailers are making record profits!
0:12.0	That's why we support the Durban Marshall Credit Card Bill!
0:15.0	See? Banks and credit unions help small businesses make payroll.
0:18.0	This bill would cut the vital resources they need.
0:27.3	While increasing megastore profits, they deserve it. Don't they? Tell Congress, stop the Durban Marshall money grab for corporate megastores. Paid for by the Electronic Payments Coalition.
0:34.7	A new wave of job cuts hits tech workers, as big tech's bill for AI spending comes due.
0:41.3	Plus, the SpaceX IPO could give Elon Musk even more power at the company.
0:46.2	Investors are all for it.
0:48.2	It's a lot of I trust in Musk.
0:50.7	And if you have that belief, you're almost investing in the person.
0:55.3	And good news for the multi-billion dollar cannabis industry,
0:58.5	the Trump administration is reclassifying marijuana as a less dangerous drug.
1:03.2	It's Thursday, April 23rd.
1:05.3	I'm Alex Ocelo for the Wall Street Journal.
1:07.8	This is the PM edition of What's News,
1:10.0	the top headlines and business
1:11.7	stories that move the world today.
1:18.5	It's a gloomy day for tech workers. Meta will lay off a tenth of its staff, roughly
1:23.4	8,000 people next month. Per an internal memo, it's trying to streamline its operations and pay for massive AI investments.
1:31.3	The memo also says META will cancel plans to hire for 6,000 open roles.
	...

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