The bottom line
■ White Americans now have median earnings of $914 per week—an all-time inflationadjusted high that’s significantly above pre-pandemic levels. That is 42 percent higher than the median weekly earnings of Black Americans, and 45 percent higher than what Hispanic Americans earn.
Axios.com
■ Tesla’s first-quarter earnings unlocked two more massive compensation milestones for CEO Elon Musk. In total, Musk now has rights to buy 50.6 million shares of Tesla at an exercise price of $70.01 per share, an options package worth $35.3 billion.
Insider.com
■ Almost 87 percent of
S&P 500 companies reporting results beat Wall Street forecasts and are doing so by an average of 23.5 percent, the largest-ever recorded gap, according to data that dates back to 1994.
Finance.Yahoo.com
■ Trevor Lawrence, the
No. 1 selection in last week’s NFL draft, requested to have his $22,630,055 signing bonus placed in a cryptocurrency account called Blockfolio. Lawrence’s portfolio already includes Bitcoin and Ethereum.
USA Today
■ A tax court judge ruled largely in favor of Michael Jackson’s estate in a dispute with the IRS, concluding that the singer’s name and likeness were worth $4.2 million when he died in 2009. The
IRS argued they were worth $161 million; the estate pushed for a value of just $2,105, saying Jackson’s reputation had already been devastated.
The New York Times
■ Delta, the last airline keeping middle seats unfilled for social-distancing purposes, ended the practice May 1. Air travel is on the rebound, with more than a million passengers screened daily by the TSA since March 11.
The Washington Post