Elon Musk offloaded $6.9 billion worth of stock in Tesla Inc. to accumulate cash ahead of a trial that could force the billionaire to follow through on an agreement to acquire Twitter Inc. Tesla’s chief executive officer sold about 7.92 million shares during the last three days of trading, according to regulatory filings. Musk, who … Read more
Lawyers for Elon Musk have notified the US Securities Exchange Commission that the Tesla and SpaceX CEO is moving to terminate the deal to acquire Twitter, and accusing the social media company of being “in material breach of multiple provisions” of the merger agreement. Shares of Twitter fell roughly 6% following the news, while shares … Read more
Elon Musk, the CEO of Tesla Company and one of the world’s richest people, has expressed his displeasure towards the video streaming platform YouTube which is owned by search giant Google. The Tesla CEO slammed YouTube’s service by tweeting on the micro-blogging site Twitter. Elon Musk even called YouTube a scammer. Musk tweeted,” YouTube seems … Read more
Shares of Tesla and Twitter have tumbled this week as investors deal with the fallout and potential legal issues surrounding Tesla CEO Elon Musk and his $44 billion bid to buy the social media platform. Of the two, Musk’s electric vehicle company has fared worse, with its stock down almost 16% so far this week … Read more
Elon Musk reached an agreement to buy Twitter for roughly $44 billion on Monday, promising a more lenient touch to policing content on the platform where he promotes his interests, attacks critics and opines on social and economic issues to more than 83 million followers. The outspoken Tesla CEO, who is also the world’s wealthiest … Read more
The purchase isn’t straightforward, but Elon Musk has several financing paths. One option is to sell his Tesla shares outright. Another is borrowing against them to stage a leveraged buyout, possibly with outside partners. Musk, 50, currently has about $3 billion in cash or other somewhat liquid assets after spending $2.6 billion buying a 9.1% … Read more
Defend What Makes Twitter Tick: Clinton called Twitter the “last bastion of truth discovery.” “Important conversations in pursuit of truth happen on Twitter more than any other social network in world, more than any other place in the world,” the analyst wrote. The advantage that the company holds in this area is “fragile,” as per … Read more
Social media giant Twitter has acquired Quill that experts suggest might let Twitter DMs better compete with other messaging apps. As per GSM Arena, this new acquisition might result in Twitter offering more robust messaging features. For the unversed, Quill is a messaging app for collaboration and communication with teams, one that competed with other … Read more
Another spat between India’s government and U.S. big tech has exacerbated disillusion among firms which have spent billions to build hubs in their largest growth market, to the extent some are rethinking expansion plans, people close to the matter said. The government on Saturday said Twitter Inc had not indicated compliance with new rules aimed … Read more