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$81T

Citigroup mistakenly credited a client’s account with $81 trillion when it meant to send only $280, eventually spotting the input error only after two employees had missed it, the Financial Times reported this morning.

While no funds actually left Citi — because a transaction worth 543x Citi’s entire market cap unsurprisingly wouldn’t go through the bank’s systems — and a third employee caught the incorrect payment 90 minutes after it was made last April, the US bank disclosed the “near miss” to the Federal Reserve and the Office of the Comptroller of the Currency. Still, this marks the 10th near miss worth $1 billion or more that Citi has seen over the past year, according to the FT.

For context, $81 trillion is enough to buy the entire US stock market (~$60 trillion), with enough spare to buy China’s entire stock market (~$16 trillion), if you felt like it. You’d be more than 200x wealthier than Elon Musk, the world’s richest person with a net worth of $353 billion, per Forbes.

You could pay off the national debt ($36.5 trillion), and, if you got hungry afterwards, you’d still have enough leftover to buy yourself and everyone else on Earth 300 pizzas each.

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Elon Musk at Donald Trump Rally At Madison Square Garden In NYC

The Tesla directors who just proposed giving Elon Musk a trillion dollars say it’s “critical” he stay out of politics

Even still, the company doesn’t appear to be putting up hard guardrails for Musk’s political ambitions.

$1T

Tesla jumped more than 2% premarket on Friday after the company proposed an unprecedented roughly $1 trillion pay package for CEO Elon Musk, according to proxy filings.

To receive the massive payout, Musk will have to increase the company’s market cap to $8.5 trillion from the approximately $1 trillion it is today over the next 10 years.

The pay package also requires that Musk expand Tesla’s product offerings to include 1 million Robotaxis in commercial operation and the “delivery of 1 million AI Bots.” Currently the company has about 30 autonomous robotaxis in its invite-only Austin ride-hailing service, though this week the company expanded the waitlist for the service to everyone. Tesla's Optimus robots are still under development.

Musk would also have to take part in his own succession planning and develop a framework for who’s to follow him.

Investors have historically tied the fate of Tesla with Musk, so holding on to him for an extended period of time and having his blessing for the succession plan is typically seen as good news for the stock.

“We believe that Elon’s singular vision is vital to navigating this critical inflection point,” the filing reads. “Simply put, retaining and incentivizing Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history.”

A judge twice struck down Musk’s previous $56 billion compensation package. Last month the board approved a $30 billion interim pay package, saying that “retaining Elon is more important than ever.”

Shareholders will vote on the pay package at their annual meeting on November 6.

Old Navy store on 34th street in New York City, U.S.

Gap pops as the denim giant takes a big swing into beauty and accessories

The retailer is piloting beauty through shop-in-shops at Old Navy before rolling it out to Gap stores next year.

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