The fall of Elon Musk down Fortune’s 100 Most Powerful People in Business list shows how power is impermanent

As executive editorial director of the Fortune CEO Initiative, she brings together a growing community of global leaders through conversations, content, and connections

The big story: Grand jury to be Trump’s “Russia hoax” allegations

The : Coming back nicely

Plus: All the news and watercooler chat from Fortune

Un revenue or market cap, power is a more complex concept

We calculate not just the size of the person’s es, but also the health of their companies, as well as their innovation, influence, impact and where they are in the arc of their career

By those measures, Nvidia CEO Jensen Huang came in No. 1 on this year’s list

In addition to creating specialized computer chips that are coveted by companies artificial intelligence, he is on the front lines of a nology that is changing the global landscape itself

Power is not permanent

Elon Musk topped last year’s list not only because of his roles at Tesla, SpaceX, xAI and X, but also because of his work in the Trump Administration

This year, Musk is No. 4 on the list

Power is also relative

Companies and leaders grow strong when they have a worthy rival to measure themselves against

Thus Jensen Huang has AMD CEO Lisa Su, his first cousin once removed, on his heels as a powerful chipmaker

As part of this year’s package, we look at how rivalries in key industries are playing out

You can check out the full list here

They don’t care how many people in Ukraine are being killed by the Russian War Machine,” he said on Trump Social

India said this was hypocrisy because the EU continues to trade with Russia and faces no similar sanctions.Palantir ders blowout quarterSales were up almost 50% to nearly $1 billion, beating expectations

CEO Alex Karp lifted guidance for Q3

The convictions were later overturned on appeal

Deutsche Bank denied there was any wrongdoing on Sewing’s part: “Any allegation of a conflict of interest involving Christian Sewing is completely unfounded,” it told the FT.Trump wants to ban “debanking”The president is planning to issue an executive order directing bank regulators to investigate whether banks deny accounts to people with right-wing opinions or those involved in crypto, to see whether such bans might violate credit, consumer, or antitrust laws.JPMorgan strategist sounds alarm on labor demographic issuesDavid Kelly, JPMorgan Asset Management’s Chief Global Strategist, warned on Monday that immigration restrictions and a growing elderly population could mean “no growth in workers at all” in the next 5 years

Kelly warned that cutting rates could lead to wage and price inflation instead of pelling economic growth.Anthropic CEO on Meta’s poachingAnthropic CEO Dario Amodei says the company’s employees have been less eager to accept poaching offers from Meta and the company won’t make competing offers because that would jeopardize company culture. “We are not willing to commise our compensation principles, our principles of fairness, to respond individually to these offers,” Amodei recently said on the Big nology Podcast.The S&P 500 futures were up 0.13% this morning, premarket, after the index closed up 1.47% yesterday

Bitcoin remains above $114K.Around the watercoolerElon Musk retains title as the highest-paid CEO in history with $26 billion pay package—and the only thing he has to do is show up for two years by Amanda GerutHere’s what the doomsayers are getting wrong the job market, according to a Wall Street veteran by Jason MaChina’s fertility crisis is so dire, rates are falling below ‘replacement levels’ and GDP could slow by more than half in the next 30 years, study says by Eleanor PringleDan Morehead assembled his Princeton mafia to pile into Bitcoin at $65 in 2013, leaving his Wall Street career behind to build a $5 billion crypto fund by Leo SchwartzMichael Saylor’s Strategy makes its third-largest Bitcoin purchase ever by Kirk Ogunrinde of BloombergCEO Daily is compiled and edited by Joey Abrams and Jim Edwards.This is the web version of CEO Daily, a of must-read global insights from CEOs and industry leaders. to get it dered free to your inbox.