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
Read More »Elon Musk could become global ‘punching bag’ as he takes Twitter private
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
Read More »Musk begins his Twitter ownership with firings, declares the ‘bird is freed’
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
Read More »Musk begins his Twitter ownership with firings, declares the ‘bird is freed’
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
Read More »Elon Musk could have to sell up to $10 billion in Tesla stock next week to get the ‘train wreck’ Twitter deal done, Wedbush says
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
Read More »Elon Musk lights blaze of speculation over gonzo share buyback a week before Tesla Q3 earnings
All it took for Elon Musk to set the hearts of Tesla investors aflutter was one simple word. A full week after Singapore-based billionaire Leo KoGuan warned only a stock buyback or 100% earnings growth would pull Tesla out of its current slump, Musk finally replied to his third largest shareholder. “Noted,” he wrote on Thursday. Minutes later the stock reversed its losses as investors took this as a clear sign that Musk might greenlight Tesla spending anywhere between $5 billion to even… Source link
Read More »Why Cathie Wood is ‘excited’ to see what Elon Musk would do with Twitter
Long-time Tesla bull and Elon Musk supporter Cathie Wood thinks the billionaire’s ownership of the social media platform is exactly what it needs. “I am kind of excited to see what Elon will do,” the noted tech investor told Yahoo Finance Live in an exclusive and wide-ranging interview on Thursday (full video above). “I actually think he will work closely with [Twitter Founder] Jack Dorsey and maybe open up the ecosystem, take away the censorship, make it much more transparent, and I think… Source link
Read More »If Musk lifted Twitter’s ban on Trump, there would be ‘a much bigger problem to solve’: analyst
Former President Donald Trump could soon return to Twitter (TWTR) now that Elon Musk has agreed to move forward with his $44 billion acquisition of the social media company. Musk has said in the past that he doesn’t agree with the lifetime ban on Trump, which Twitter enacted in early 2021 following the Jan. 6 attack on Capitol Hill. But restoring Trump’s account could pose another challenge for the platform should incendiary tweets drive advertisers away from Twitter and toward competitors… Source link
Read More »Elon Musk tells Twitter he wants to go ahead with original deal
Elon Musk wants to own Twitter after all. The Tesla CEO has decided he wants to go ahead with the deal he originally struck to buy the social media company for $54.20 a share, Bloomberg reports. News of the proposal comes less than two weeks before the two sides were set to go to trial in Delaware’s Court of Chancery over Musk’s attempt to get out of that deal. He has cited concerns about the number of spam and bot accounts on Twitter, and later added allegations from the company’s… Source link
Read More »Newly revealed private texts show Jack Dorsey tried to get Elon Musk involved with Twitter at least a year before the $44 billion deal. ‘I trust you,’ Dorsey wrote.
Dimitrios Kambouris/Getty Images for The Met Museum/Vogue/Joe Raedle/Getty Images Text messages between Elon Musk and various notables in tech and business have been released. In several private exchanges, Musk and Jack Dorsey discussed the platform and Musk’s involvement. “I trust you,” Dorsey said in one text to Musk. Elon Musk and Jack Dorsey texted privately about Twitter several times before and after the Tesla billionaire became financially involved in the company, newly revealed court… Source link
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