• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy

2

CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it

3

Current price of oil as of June 3, 2026

1

Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy

2

CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it

3

Current price of oil as of June 3, 2026
Australia

Elon Musk’s New Battery Just Won Him a $50 Million Bet

By
Emily Price
Emily Price
Down Arrow Button Icon
By
Emily Price
Emily Price
Down Arrow Button Icon
November 23, 2017, 11:56 AM ET

Elon Musk just won a $50 million dollar bet.

Back in March, the Tesla founder made a bet on Twitter with Mike Cannon-Brookes, the co-founder of Atlassian, an Australian enterprise software company, that he would be able to install the world’s largest lithium-ion battery in Australia within 100 days, or he would supply it for free. That “free” would have been anything but to Musk, who said failing to meet the deadline would have cost him “$50 million or more,” Business Insider reports.

The 129-megawatt-hour battery was being built by Musk for South Australia, which generates a substantial percentage of its energy from wind power. Musk vowed to install the battery within 100 days of signing as agreement with the state government, which he did in September.

Tesla will get the system installed and working 100 days from contract signature or it is free. That serious enough for you?

— Elon Musk (@elonmusk) March 10, 2017

The goal with the battery pack is to make South Australia more self-sufficient and able to provide backup power and affordable energy to South Australians during the summer months.

The battery is part of a $550 million plan by South Australia to help guarantee its power supply after a string of blackouts over the last 18 months. The state has not indicated how much it is paying Musk for the battery. A 250MW gas-fired generator is also expected to come online in the area next summer to help ease energy concerns.

Musk also recently supplied battery power to help aid Puerto Rico’s electrical grid following the devastating hurricane earlier this year.

About the Author
By Emily Price
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Current price of silver as of Thursday, June 4, 2026
Personal Financesilver
Current price of silver as of Thursday, June 4, 2026
By Joseph HostetlerJune 4, 2026
2 hours ago
60
Arts & EntertainmentMedia
‘My first response is, it started in 1968 — not a bad run’: Some see the death of 60 Minutes after Pelley’s firing, ‘murder’ comments
By Jocelyn Noveck and The Associated PressJune 4, 2026
2 hours ago
Current price of gold as of June 4, 2026
Personal Financegold prices
Current price of gold as of June 4, 2026
By Danny BakstJune 4, 2026
2 hours ago
worm
HealthFood and drink
Flesh-eating fly found in Texas cattle for first time in decades
By The Associated PressJune 4, 2026
2 hours ago
sb
LawWhite House
Scott Bessent on whether Trump is immune from IRS audits: ‘I’m unable to comment on ongoing litigation’
By Fatima Hussein and The Associated PressJune 4, 2026
2 hours ago
gg
MPWphilanthropy
Melinda French Gates launches menopause initiative with $215 million pledge
By Glenn Gamboa and The Associated PressJune 4, 2026
2 hours ago

Most Popular

Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
Cybersecurity
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
By Sasha RogelbergJune 3, 2026
1 day ago
CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it
Success
CEO says anyone who works from home is grabbing groceries or at the vet 30% of the time—and shows off his busy office at Friday 5 p.m. to prove it
By Orianna Rosa RoyleJune 4, 2026
8 hours ago
Current price of oil as of June 3, 2026
Personal Finance
Current price of oil as of June 3, 2026
By Joseph HostetlerJune 3, 2026
1 day ago
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
Environment
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
By Marco Quiroz-GutierrezJune 1, 2026
3 days ago
Southwest exec says the free bag and assigned seating overhaul is already paying off
Travel & Leisure
Southwest exec says the free bag and assigned seating overhaul is already paying off
By Preston ForeJune 2, 2026
2 days ago
A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history
Startups & Venture
A single new sentence in SpaceX's amended IPO filing could signal the biggest merger in history
By Shawn TullyJune 4, 2026
8 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.