Jose Munoz, CEO of Hyundai, speaks during the Semafor World Economy conference in Washington, DC, on April 14, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

Jose Munoz, CEO of Hyundai, speaks during the Semafor World Economy conference in Washington, DC, on April 14, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

John Ray III, CEO of FTX, speaks during the Semafor World Economy 2026 conference in Washington, DC, on April 14, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

Jose Munoz, CEO of Hyundai, speaks during the Semafor World Economy conference in Washington, DC, on April 14, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

Jose Munoz, CEO of Hyundai, speaks during the Semafor World Economy conference in Washington, DC, on April 14, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

LOS ANGELES, CALIFORNIA - APRIL 14: An aerial view of KB Home headquarters on April 14, 2026 in Los Angeles, California. Home builder KB Home announced plans to relocate its headquarters to Tempe, Arizona by spring 2027 to lower costs and improve efficiency in a more business-friendly environment, while maintaining significant operations in California. (Photo by Justin Sullivan/Getty Images)

LOS ANGELES, CALIFORNIA - APRIL 14: A view of KB Home headquarters on April 14, 2026 in Los Angeles, California. Home builder KB Home announced plans to relocate its headquarters to Tempe, Arizona by spring 2027 to lower costs and improve efficiency in a more business-friendly environment, while maintaining significant operations in California. (Photo by Justin Sullivan/Getty Images)

LOS ANGELES, CALIFORNIA - APRIL 14: An aerial view of KB Home headquarters on April 14, 2026 in Los Angeles, California. Home builder KB Home announced plans to relocate its headquarters to Tempe, Arizona by spring 2027 to lower costs and improve efficiency in a more business-friendly environment, while maintaining significant operations in California. (Photo by Justin Sullivan/Getty Images)