Tag Archives: Musk

Elon Musk’s tenure at Twitter got even bumpier on Thursday, as he reportedly told employees during an emergency all-hands meeting that he can’t rule out the company filing for bankruptcy in the next year. Musk made the announcement during the all-hands meeting after an employee asked about the company’s current run rate, according to both The Information and Platformer managing editor Zoë Schiffer. Musk also reportedly told employees that if they weren’t physically at the office 40… Source link

Tesla (TSLA) slipped today following disclosure of another stock sale from CEO Elon Musk, with the shares now down nearly 49% year to date. In a filing submitted with the SEC on Tuesday, Musk declared he sold around 19,500,000 shares over the course of three days in November, worth around $3.95 billion. The latest sale comes only a few days after Musk closed his deal to buy Twitter on October 27, in a deal worth $44 billion. It is unclear how much outside equity and personal money Musk has… Source link

A week after Elon Musk completed his acquisition of the social media giant Twitter, the Tesla (TSLA) and SpaceX CEO came under fire after he reportedly started laying off nearly half of Twitter’s 7,500 employees. Musk’s detractors, who worry the platform may become overrun with bigots and bad-faith actors, criticized the CEO well before he acquired the platform. The magnate has drawn controversy for various actions ranging from his polarizing tweets to reopening a Tesla factory in… Source link

Twitter sent employees an email Thursday notifying them that layoffs would begin on Friday morning, according to multiple news reports including The New York Times. The email told employees not to come into the office on Friday as the layoffs begin. The cuts will affect roughly half of Twitter’s workforce, according to The Times, which cited an investor and internal messages. “In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global… Source link

Elon Musk doesn’t just wear a lot of hats when it comes to juggling his many roles — he’s more like a hat rack overflowing with headwear. Following the close of his deal to acquire Twitter (TWTR), Musk appointed himself the CEO of the company, as well as its lone board member. Adding that his other day jobs as CEO of Tesla, CEO and chief engineer of SpaceX, in addition to his role as founder of companies like The Boring Company, Neuralink, and OpenAI, the question has arisen whether the… Source link

Elon Musk has ordered company-wide layoffs at Twitter, according to The New York Times. On Saturday, the SpaceX and Tesla executive reportedly told managers to begin drawing up lists of employees to cut. Twitter did not immediately respond to Engadget’s request for comment. The Times could not determine how much of Twitter’s workforce Musk plans to let go – though some teams will be more affected than others. Before completing his $44 billion takeover of the company, Musk reportedly… Source link

Elon Musk completed his $44 billion deal to buy Twitter on Thursday, reportedly firing top executives and raising questions about content regulation on a platform that banned Donald Trump. The deal comes at a delicate time for social media, as ad revenue wanes and as platforms remain on high alert for potential foreign interference ahead of the Nov. 8 midterm elections. Musk’s decisions on content regulation could determine Twitter’s role in ensuring fair elections. Now that Musk has ousted… Source link

By Sheila Dang and Greg Roumeliotis (Reuters) – Elon Musk has taken ownership of Twitter Inc with brutal efficiency, firing top executives immediately but providing little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform. “The bird is freed,” he tweeted after he completed his $44 billion acquisition on Thursday, referencing Twitter’s bird logo in an apparent nod to his desire to see the company have fewer limits on content that can… Source link

By Sheila Dang and Greg Roumeliotis NEW YORK (Reuters) -Elon Musk has taken ownership of Twitter Inc with brutal efficiency, firing top executives but providing little clarity over how he will achieve the ambitions he has outlined for the influential social media platform. “The bird is freed,” he tweeted after he completed his $44 billion acquisition on Thursday, referencing Twitter’s bird logo in an apparent nod to his desire to see the company have fewer limits on content that can be… Source link

Elon Musk.Adrees Latif/Reuters Elon Musk could have to sell up to $10 billion in Tesla stock next week to complete his Twitter buyout, according to Dav Ives of Wedbush. “The more investors that bail on this deal is the more money that Musk needs to contribute and therefore sell more Tesla stock,” Ives said. Ives called Musk’s $44 billion deal for Twitter a “train wreck.” Elon Musk could be forced to sell $5 billion to $10 billion in Tesla stock next week as he prepares to complete a $44 billion… Source link