annual

Inside Clive Davis’ annual pre-Grammy gala at the Beverly Hilton

One way to honor your 93-year-old host: by calling him a “f— gangster” who’ll “slit your throat for a hit record.”

That’s how Monte Lipman big-upped Clive Davis on Saturday night at the Beverly Hilton, where Davis had convened an invite-only crowd of celebrities and music-industry insiders for his annual night-before-the-Grammys gala. Lipman, who runs Republic Records, was there to receive the Recording Academy’s Industry Icon award along with his brother and business partner, Avery; clearly, the commendation had gotten him feeling all warm and fuzzy about the record-biz machers who paved his way.

An incomplete list of stars in the Hilton’s ballroom for Saturday’s soiree: Joni Mitchell, Nancy Pelosi, Stevie Wonder, Colman Domingo, Frankie Valli, Martha Stewart, Lana Del Rey, Karol G, Brandi Carlile, Bill Maher, Teyana Taylor, Gladys Knight, Bryan Cox, Jeff Goldblum, Max Martin and — speaking of record-biz machers — Motown founder Berry Gordy, who at 96 had to have been the only person at the party with more experience on him than Davis.

Jennifer Hudson performs

Jennifer Hudson performs.

(Kayla Bartkowski / Los Angeles Times)

At least a few of these luminaries had come, no doubt, to see the Lipmans pick up their prize; among the many, many successes they’ve racked up in recent years include blockbusters by Taylor Swift, Morgan Wallen, Sabrina Carpenter, Chappell Roan, Post Malone and the lovable cartoon assassins of “KPop Demon Hunters.”

But mostly folks had come to schmooze and to take in the entertainment Davis had arranged.

As always, the show featured a blend of beloved old-timers and ascendant youngsters, including three of the nominees for the Grammys’ best new artist award: Sombr, pouting extravagantly through a pretend-sleazy “12 to 12”; Olivia Dean, downright luminous as a horn section added some swing to “Man I Need”; and Alex Warren, who’s beginning to look like he may never want to sing “Ordinary” again.

Sombr spins Olivia Dean during his performance.

Sombr spins Olivia Dean during his performance.

(Kayla Bartkowski / Los Angeles Times)

Clipse and John Legend performed “The Birds Don’t Sing,” from the rap duo’s “Let God Sort Em Out,” which is up for album of the year at Sunday’s Grammys ceremony. The women of “KPop Demon Hunters’” Huntr/x turned up to sing “Golden,” which is nominated for song of the year.

MGK and Jelly Roll tag-teamed an homage to the late Ozzy Osbourne, while Jennifer Hudson saluted the late Roberta Flack; her typically virtuosic rendition of “The First Time Ever I Saw Your Face” brought the room to as close to quiet as it got all night.

Pusha T of Clipse, left, and John Legend perform.

Pusha T of Clipse, left, and John Legend perform.

(Kayla Bartkowski / Los Angeles Times)

There were also tributes to two living legends: Bernie Taupin and Art Garfunkel. For the former, Darren Criss sang “Bennie and the Jets” — just one of the classics Taupin co-wrote with Elton John — then brought out Laufey for a surprisingly frisky take on John and Kiki Dee’s disco-era “Don’t Go Breaking My Heart.” (Free idea: Somebody cast Criss and Laufey in a reboot of “Grease.”)

To honor Garfunkel, the country duo Dan + Shay performed “Mrs. Robinson” before throwing to the 84-year-old himself, who sauntered onstage in a tuxedo and Phillies ball cap, sat down on a stool and — after having read a bit of poetry scrawled on the back on an envelope — closed the show with a touching if slightly wobbly journey across “Bridge Over Troubled Water.”

Behold more pictures from Saturday’s event:

Art Garfunkel performs.

Art Garfunkel performs.

(Kayla Bartkowski / Los Angeles Times)

Clive Davis, left, addresses the crowd.

Clive Davis, left, addresses the crowd.

(Kayla Bartkowski / Los Angeles Times)

Karol G on the red carpet.

Karol G on the red carpet.

(Kayla Bartkowski / Los Angeles Times)

Adam Lambert on the red carpet.

Adam Lambert on the red carpet.

(Kayla Bartkowski / Los Angeles Times)

Darren Criss, left, and Laufey perform.

Darren Criss, left, and Laufey perform.

(Kayla Bartkowski / Los Angeles Times)

Jelly Roll, left, and Bunnie Xo on the red carpet.

Jelly Roll, left, and Bunnie Xo on the red carpet.

(Kayla Bartkowski / Los Angeles Times)

Monte Lipman, left, and Avery Lipman on the red carpet.

Monte Lipman, left, and Avery Lipman on the red carpet.

(Kayla Bartkowski / Los Angeles Times)

Olivia Dean performs.

Olivia Dean performs.

(Kayla Bartkowski / Los Angeles Times)

Source link

Elon Musk’s Tesla reports first-ever annual decline in revenue | Elon Musk

Musk’s electric car company says it will invest $2bn in artificial intelligence start-up as part of pivot away from auto market.

Tesla has reported its first-ever decline in annual revenue on a busy day for corporate earnings that also saw the release of results from Microsoft, Meta and Samsung Electronics.

Elon Musk’s electric car company said on Wednesday that revenue fell 3 percent year-on-year to $24.9bn in the final quarter of 2025. Revenue for all of 2025 was $94.8bn, down from $97.7bn the previous year.

Recommended Stories

list of 4 itemsend of list

Net profit fell 61 percent to $840m in the quarter, taking profit for the year to $3.8bn, down sharply from $7.1bn in 2024.

The Austin, Texas-based company also revealed that it had agreed to invest $2bn in Musk’s artificial intelligence start-up xAI – the developer of Musk’s controversial Grok chatbot – as part of a push to lessen its reliance on the auto market.

“Together, the investment and the related framework agreement are intended to enhance Tesla’s ability to develop and deploy AI products and services into the physical world at scale,” the company said in its earnings report.

Tesla shares rose about 2.2 percent in after-hours trading.

Also on Wednesday, tech giants Microsoft, Meta and Samsung reported strong earnings in their latest reports to shareholders.

Meta, the parent company of Facebook and Instagram, reported a profit of $22.8bn on revenue of $59.9bn in the October-December period, a 6 percent rise year-on-year.

Meta shares surged nearly 7 percent in extended-hours trading.

Microsoft said profit rose 60 percent to $38.5bn in the final quarter, based on revenue of $81.3bn.

“We are only at the beginning phases of AI diffusion and already Microsoft has built an AI business that is larger than some of our biggest franchises,” Microsoft CEO Satya Nadella said in a statement.

“We are pushing the frontier across our entire AI stack to drive new value for our customers and partners.”

Despite its strong earnings, Microsoft’s announcement that capital spending hit a record $37.5bn in the second quarter stoked fears of an AI investment bubble, sending stock prices sharply lower.

Microsoft’s shares fell more than 6 percent in after-hours trading on Wednesday.

Samsung Electronics, the biggest producer of memory chips globally, reported a profit of 20.1 trillion won ($13.98bn) on revenue of 93.8 trillion won ($65.6bn), a more than three-fold rise from the previous year.

Source link