Barnes & Noble acquires Student Brands for $58.5 million, Elon Musk $5 billion richer, and more.

Barnes & Noble Acquires Student Brands for $58.5 Million

Barnes & Noble Education Inc. announced on Friday that it acquired Hollywood’s Student Brands, a developer of online writing and study tools, for $58.5 million in cash, reports the Business Journal. Student Brands of Hollywood is an education technology company that operates websites focused on student study tools, writing help, and literary research.

Elon Musk $5 Billion Richer

Elon Musk added $5 billion to his fortune after SpaceX’s valuation jumped to $21 billion, reports Bloomberg. SpaceX’s most recent fundraising made it the world’s fifth-most valuable startup.

Elon Musk Planning to Build His Own Hyperloop System

Elon Musk is planning to build his own Hyperloop system, reports Bloomberg. The plans are a departure from his previously declared intentions to remain focused on SpaceX and Tesla.