Tag Archives: Elon

Elon Musk, meme aficionado and the world’s richest person, issued his first public response to Twitter’s vow that it will haul him into court to enforce the terms of his $44 billion buyout offer for the company. Musk, just after midnight ET Sunday, tweeted a meme showing the celebrity CEO laughing at the latest turn of events. It focuses on the mega-billionaire’s central claim for bailing on the Twitter deal: that, according to Musk, the company has stonewalled on providing evidence to… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, July 11, 2022 Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. As my career has soldiered on, I have come to terms with one thing: rich, powerful people are going to do whatever they damn well please. The reason for that is pretty simple — they have… Source link

Britta Pedersen/Getty Images; Twitter; Rachel Mendelson/Insider Elon Musk’s decision to kill the $44 billion Twitter deal means banks could lose a “nine-figure” payday. Musk’s and Twitter’s financial advisors could pocket up to $192 million if the deal closes. The billionaire faces an uphill battle to call off the deal as he has to prove there’s been a material adverse effect on the transaction. Elon Musk’s ‘will-he-won’t-he’ dance to buy Twitter took a turn on Friday after the billionaire said… Source link

Elon Musk could face paying billions after walking away from the Twitter deal.Angela Weiss/Getty Images Elon Musk may be on the hook for billions after abandoning his Twitter deal, an NYU professor said. Musk walked away from the deal Friday, blaming its failure to disclose the number of fake accounts. Experts told Reuters that Twitter may try to negotiate a lower price with the Tesla CEO. Elon Musk could face paying out billions of dollars after walking away from a deal to buy Twitter, an… Source link

‘Recession is inevitable’: Elon Musk now thinks there’s a greater than 50-50 chance that the economy will decline. Here are 3 simple ways to protect your money The U.S. economy made a strong recovery from the COVID-19 pandemic. But according to Tesla CEO and billionaire Elon Musk, the good times might be over pretty soon. “I think a recession is inevitable at some point,” he said at the Qatar Economic Forum earlier this month. “As to whether there is a recession in the near term,… Source link

Yasin Ozturk/Anadolu Agency via Getty Images Musk said Tesla was losing billions of dollars at its new factories because of supply-chain snags. The CEO has complained about supply-chain shortages in the past. Musk is one of many auto executives who have said shortages may further hurt the industry. Elon Musk said during a recent interview that electric-car-battery shortages and supply-chain snags were costing Tesla billions of dollars. “Both Berlin and Austin factories are gigantic money furnaces… Source link

Elon Musk attends the 2022 Costume Institute Benefit celebrating In America: An Anthology of Fashion at Metropolitan Museum of Art on May 02, 2022 in New York City.Sean Zanni/Patrick McMullan via Getty Images Elon Musk has taken a strong stance on office work, requiring it from his Tesla employees. Musk might soon own Twitter and had a town hall with employees Thursday. Pushing back on the company’s current hybrid structure, he said people should be in the office. Elon Musk prefers employees in… Source link

(Bloomberg) — Twitter Inc. reiterated that it will hold Elon Musk accountable to the terms of his proposed $44 billion takeover offer after the billionaire again threatened to pull out of the deal over the issue of bots. Most Read from Bloomberg In a securities filing on Monday, Musk said he believes Twitter is breaching their agreement by not meeting his demands for more information about spam and fake accounts. Last month, Musk said he wouldn’t proceed with his offer unless the social… Source link

Tesla CEO Elon Musk is raising another obstacle in his $44 billion bid to buy Twitter (TWTR). In an SEC filing released Monday morning, Musk’s counsel said Twitter has not coughed up adequate data on the company’s users, committing a “clear material breach” of the company’s obligations as part of its merger agreement. “Based on Twitter’s behavior to date, and the company’s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information… Source link

Tesla CEO Elon Musk at the company’s Cyber Rodeo event in Austin, Texas.SUZANNE CORDEIRO / AFP Elon Musk tweeted that the “total headcount would increase” at Tesla and salaried staff would stay “fairly flat.” Musk’s comments came after the Tesla CEO sent an email to staff saying he would cut 10% of salaried jobs. Tesla employed nearly 100,000 staff at the end of 2021. After sending an email about job cuts for salaried staff, Tesla CEO Elon Musk seemed to retract his statements in a tweet reply… Source link