Elon Musk: Optimus Robots will Drive 80% of Tesla’s Future $25 Trillion Value

Welcome back!

Here’s your must-read news this morning:

• U.S. billionaire club grows

• Musk’s bold robot prediction 

• Comedy writer arrested for posts 

I’ve got all the details for you, so let’s dive in.

— Josh

MARKETS

💰 U.S. Billionaires Soar to 1,135, Amassing $5.7 Trillion in Wealth

The Scoop: The U.S. billionaire population has surged to 1,135 in 2024, with a collective net worth of $5.7 trillion, spanning not just tech hubs but small towns like Ridgeland, Miss., and Winifred, Mont., reflecting the diverse reach of America’s ultra-wealthy, according to the Wall Street Journal.

The Details:

• Altrata reports a rise from 927 billionaires in 2020 to 1,135 in 2024, with California hosting the most at 255, followed by smaller locales like Cashiers, N.C., and Winifred, Mont. (pop. 172).

• Their $5.7 trillion wealth could buy a Corvette Stingray for every U.S. driver over 65 ($4.7T), fund Harvard for 1 million students ($388B), purchase all Chicago residential properties ($245B), and acquire stocks like McDonald’s and Ford ($336B).

• Notable billionaires include Walmart’s Waltons, Hyatt’s Pritzkers, and lesser-known figures like Diane Hendricks of ABC Supply, with Elon Musk ($423B) and Jeff Bezos ($283B) leading the pack.

• While tech accounts for 110 billionaires, banking/finance (300) and real estate (75) dominate; a third of billionaires inherited wealth, with 50 heirs from five families holding $830B.

What’s Next: The expanding billionaire population, particularly in smaller towns, could drive investment in local businesses and infrastructure. As wealth concentration grows, shifts in market valuations and targeted philanthropy may alter the composition of this elite group, potentially spotlighting new billionaires from non-tech sectors.

Markets Roundup

🏦 Economy & Policy

• ⭐ Editor’s Pick: Fired Fed Governor Lisa Cook claimed that alleged mortgage “contradictions” from before her appointment do not warrant Trump’s effort to oust her. (RTS)

• Trump will seek an expedited Supreme Court ruling to overturn appeals court decision deeming most of his global tariffs illegal. (CNBC)

• Content creators and rideshare drivers gain tax relief under the "no tax on tips" policy in the U.S. spending bill signed in July. (FOR)

• China's factory activity shrank in August for the fifth straight month, signaling persistent economic challenges. (AP)

🏢 Industry

• ⭐ Editor’s Pick: Google avoided a potential $2.5 trillion breakup as a U.S. judge limited antitrust remedies to search tweaks, leaving Chrome and default-deal arrangements untouched. (POL)

• Ten major banks, including JPMorgan and Goldman Sachs, win dismissal of an antitrust lawsuit accusing them of rigging corporate bond prices. (IJ)

• Elliott Investment Management took a $4 billion stake in PepsiCo, pushing for strategic changes to boost stock value. (RTS)

• McDonald’s will expand its $5 value menu combo meal offerings to win back cost-conscious customers. (CNBC)

• Amazon will terminate its Prime Invitee program on October 1, limiting free shipping benefits to household members only. (YN)

💵 Energy & Commodities

• ⭐ Editor’s Pick: Energy Secretary Chris Wright said that electricity costs are what he “worries about most” as Americans face high power bills. (TH)

• Gold prices soared to a record high above $3,533 as central bank gold reserves surpass U.S. Treasuries for the first time since 1996. (YF)

• The Trump administration plans coal lease sales in Alabama, Montana, and Utah to boost domestic production. (RTS)

• Russia and China sign a deal to build the Power of Siberia 2 gas pipeline, a massive project to boost energy ties. (OP)

🌕 Crypto

• ⭐ Editor’s Pick: The SEC and CFTC approved spot crypto trading on registered exchanges, paving the way for enhanced market access and regulatory clarity. (CD)

• Coinbase launched futures trading for an index blending the "Magnificent 7" tech stocks with its own stock and BlackRock’s Bitcoin and Ethereum ETFs, marking a first in U.S. derivatives markets. (CRY)

• Gemini, founded by the Winklevoss twins, files for a $317 million IPO on Nasdaq, aiming for a $2.22 billion valuation. (CT)

• Crypto exchange trading volume surged to $1.86 trillion in August, the highest since January. (TB)

SPONSOR

Your daily edge in private markets

Wondering what’s the latest with crypto treasury companies, Pre-IPO venture secondaries, private credit deals and real estate moves? Join 100,000+ private market investors who get smarter every day with Alternative Investing Report, the industry's leading source for investing in alternative assets.

In your inbox by 9 AM ET, AIR is chock full of the latest insights, analysis and trends that are driving alts. Readers get a weekly investment pick to consider from a notable investor, plus special offers to join top private market platforms and managers.

And the best part? It’s totally free forever.

Subcribe to AIR today

TECH

💻 Elon Musk Predicts Tesla’s Optimus Robots Will Drive 80% of $25 Trillion Valuation

The Scoop: Tesla CEO Elon Musk boldly predicted that Optimus, the company’s forthcoming humanoid robot, will fuel roughly 80% of Tesla’s future value, positioning the automaker as a potential $25 trillion leader in AI-driven innovation.

The Details:

• In a Monday X post, Musk highlighted Optimus as a cornerstone of Tesla’s growth, building on his 2024 vision of a $25 trillion valuation, outpacing half the S&P 500.

• Despite a temporary sales dip amid competition from Chinese EV makers and an evolving product lineup, Musk is steering Tesla toward a bright future powered by AI.

• Tesla is making strides in robotaxis with recent tests in Austin and San Francisco, joining leaders like Alphabet’s Waymo and Baidu’s Apollo Go in this transformative space.

• In humanoid robotics, Tesla is set to produce 5,000 Optimus robots in 2025, competing with innovators like Unitree and Boston Dynamics, even after the departure of robotics executive Milan Kovac in June.

What’s Next: Tesla is on track to roll out Optimus for factory tasks in 2025, with exciting potential for consumer uses like household assistance. With its AI leadership and bold vision, Tesla is poised to redefine mobility and robotics, overcoming challenges to shape a groundbreaking future.

Tech Roundup

🧠 AI

• ⭐ Editor’s Pick: Anthropic raised $13 billion in Series F funding, boosting its valuation to $183 billion. (ANT)

• OpenAI acquired Statsig for $1.1 billion and appointed its CEO Vijaye Raji as CTO of Applications. (TV)

• OpenAI plans to roll out ChatGPT parental controls within a month, addressing safety concerns after a teen's suicide. (TC)

• Microsoft will give the U.S. government $6 billion in AI and cloud service savings over three years, aligning with the GSA’s OneGov strategy. (CNBC)

• Palantir launched The AI Optimism Project, promoting AI as an empowering tool for U.S. workers across industries. (WI)

🤖 Hardware & Robotics

• ⭐ Editor’s Pick: At the inaugural International Humanoid Olympiad in ancient Olympia, Greece, humanoid robots demonstrated feats from soccer and archery to shadow-boxing. (EUN)

• Apple’s lead AI robotics researcher Jian Zhang joined Meta’s Robotics Studio, while three others exit its Foundation Models team. (BBG)

• A Tampa Bay dentist used Yomi, a robotic assistant, for precise dental implant surgeries, marking a significant advancement in dental care. (BN9)

• Researchers wired mushrooms to sensors that turn their electrical signals into improvised music with human performers. (RTS)

🚀 Defense & Space

• ⭐ Editor’s Pick: Xi presided over a Victory Day parade in Beijing, parading nuclear-capable missiles, hypersonic weapons, drones and other cutting-edge systems. (AP)

• A U.S. strike in the southern Caribbean destroyed a drug-smuggling vessel tied to Venezuela’s Tren de Aragua gang, killing 11 aboard. (TH)

• Trump reversed a prior Biden-era decision by announcing that U.S. Space Command headquarters will relocate from Colorado Springs to Huntsville, Alabama. (SP)

• Ukraine has become the first nation to routinely deploy AI-coordinated drone swarms, using software to autonomously choreograph reconnaissance and strike missions against Russia. (WSJ)

💰 Venture Capital & Deals

• ⭐ Editor’s Pick: Sierra, the AI-agent startup led by OpenAI chair Bret Taylor, is nearing a $350 million funding round led by Greenoaks Capital that would value the firm at about $10 billion. (AX)

• Kapital raised $86 million in a Series C led by Tribe Capital, valuing the SMB-focused financial platform at roughly $1.3 billion. (BBG)

• Predoc raised $30 million in seed and Series A funding led by Base10 Partners to deploy its AI-driven platform that automates medical-record retrieval. (FM)

• ArcaScience raised $7 million to expand in the U.S. and U.K. and scale its AI platform that speeds up drug benefit-risk evaluations. (CTF)

FREEDOM

🚨 British Comedy Writer Graham Linehan Arrested Over Social Media Posts Criticizing Trans Activists

The Scoop: Graham Linehan, co-creator of the U.K. sitcom "Father Ted," was arrested at London Heathrow Airport on Monday over social media posts allegedly criticizing transgender activists, sparking a debate on free speech in the U.K., according to Fox News.

The Details:

• Linehan was detained by five armed officers upon arrival, questioned about three X posts, including one stating that trans-identified males in female-only spaces commit a "violent, abusive act."

• Linehan believes the arrest stemmed from a tip-off, possibly linked to a U.S. gate agent’s ticketing issue before his flight.

• London’s Metropolitan Police confirmed a man in his 50s was arrested for inciting violence via X posts but did not name Linehan.

• Linehan’s bail condition bans him from using X, which he calls a "legal gag order" to silence him.

• Prominent figures like J.K. Rowling condemned the arrest, with the Free Speech Union pledging legal support.

What’s Next: Linehan faces a police interview in October, while the Free Speech Union plans to challenge the arrest’s legality. The incident intensifies scrutiny of U.K. free speech policies, with critics warning of increasing censorship and over-policing of social media.

Freedom Roundup

🏛️ Policy, Free Speech & Woke Retreat

• ⭐ Editor’s Pick: Malcolm Gladwell admitted he was "cowed" into supporting transgender athletes in women's sports and now insists they "had no place in the female category." (X)

• LGBTQ+ publications are losing major advertisers as brands retreat amid nationwide pushbacks on DEI initiatives. (ADV)

• Wells Fargo quietly removed its public-facing DEI website page and related reports. (HRB)

• Nigel Farage will tell Congress on Wednesday that the UK has "lost her way" on free speech, highlighting censorship concerns prompted by the country's Online Safety Act. (TIM)

That's a wrap! You're officially caught up on all things tech, markets and freedom. Subscribe to CAPITAL below.

Feel free to reply to this email with any questions and/or comments.

DISCLAIMER: The CAPITAL newsletter is for informational purposes only and does not constitute financial, investment, or professional advice. Readers should conduct their own research and consult a qualified financial advisor before making investment decisions. The CAPITAL newsletter and its owner and operator, Josh Caplan, are not liable for any loss or damage resulting from reliance on this information. The CAPITAL newsletter is solely owned and independently operated by Josh Caplan, separate from any employer affiliations.