Elon Musk

Musk is seeking to buy Twitter for $44 billion, a mega acquisition with huge implications for the social media world. The fate of the deal has become more ...

"Will the debt portion of the round come together? And then will the shareholders vote in favor?" Whether or not Musk will get enough shareholder support for the buyout remains unclear. He has sold and pledged billions in Tesla shares as collateral for the loans. Public disclosures from Twitter place the number of false or spam accounts at less than 5% of its "monetizable" daily active users. The billionaire could face a $1 billion breakup fee and possibly even lawsuits if he were to abandon the deal.

Musk said Tesla will reduce its salaried workforce by 10% in the next three months, while also growing the number of hourly employees.

A recession in the near term is "more likely than not," he said. The company has also faced allegations of racism against Black workers. "Anything that relates to Tesla gets big headlines, whether it is a bicycle accident or something much more serious." Salaried workers account for about two-thirds of Tesla employees, he added. A report earlier this month from Reuters said Musk wanted to cut 10% of jobs, citing an internal email penned by the Tesla CEO. In the memo, Musk reportedly said he has a "super bad feeling" about the economy. Speaking at an event hosted by Bloomberg on Tuesday, Musk said Tesla would reduce its salaried workforce by 10% in the next three months, while at the same time growing the number of hourly employees.

Elon Musk confirmed the salaried workforce at Tesla Inc. would be cut by about 10% over the next three months, but said the overall reduction in the ...

Elon Musk confirmed the salaried workforce at Tesla Inc. would be cut by about 10% over the next three months, but said the overall reduction in the electric-car maker’s headcount would only be some 3.5% as hourly staff numbers are still expected to grow.

Elon Musk says there are still a few “unresolved matters” about Twitter Inc., and is still waiting for a resolution on the matter of how many bots are on ...

CEO Elon Musk said that means it's cutting around 3% to 3.5% of its total workforce. Musk's messaging around the cuts has been confusing at times. Get the ...

The pair say this violated the Worker Adjustment and Retraining Notification Act. Musk called the suit "pre-emptive," "trivial," and said it had "no standing." "We grew very fast on the salaried side and we grew a little too fast in some areas, and so it requires a reduction," he said.

She was given the name Xavier Musk at birth, but now wants her name to be Vivian Jenna Wilson. The last name was her mom Justine Musk's maiden name.

Elon was married to Vivian’s mom Justine between 2000 and 2008. The organization's president, Alphonso David, added in a separate statement: “Elon Musk’s tweet mocking pronouns is exactly the opposite of what inclusive leadership looks like today. It’s also decidedly out of step with the best practices we advise companies. “I cannot support hate. But five months later, in December 2020, the billionaire shared a cartoon of a soldier smearing blood on his face while wearing a hat with the slogan: “I love to oppress.” The cartoon had the caption: “When you put he/ him in ur bio.” In July of that year, Elon posted: “Pronouns suck” to his social media page, but deleted it after his on-again off-again girlfriend Grimes confronted him.

Musk wants Twitter to be more like Chinese platform WeChat, a common but unfulfilled dream among Silicon Valley moguls.

Which is telling about how Dorsey must’ve viewed the chances of a super app succeeding in the U.S. I think a super app would run into antitrust and anticompetition obstacles in the United States.” If Musk did pull off what the rest of Silicon Valley hasn’t been able to and gets his super app, it would be a big commercial operation. Largely, the U.S. companies have struggled to tie in the payments part of WeChat’s ecosystem to their own. WeChat takes in revenue through ads and collects a portion of the money that flows through its app. And Instagram has made great hay out of its expanded shopping tools, including the ability to check out directly through its app. And when I went to work in Beijing from 2016 to 2018, that was when I really got to know the system pretty well.” It is a commercial triumph, but it must exist hand in hand with China’s censors. Its business is long-undersized compared to the platform’s presence in culture and politics. Only remember the TikTok part of Trump’s efforts? Those apps and others developed by WeChat, like the PayPal-esque WeChat Pay, connect every facet of life in China through QR codes: hailing a cab, buying groceries, booking a doctor’s visit, purchasing insurance. (At the meeting, he also discussed the possibility of alien life.) But his thinking about WeChat isn’t, though it is not especially novel.

"I think he's seeing a lot of what we saw in Asia," Spiegel told Axios.

Those products exist in different tabs within Snapchat's main user-face. Driving the news: "I'm here to continue our discussions ... about the actions the United States is taking to assist the Ukrainian authorities in holding accountable those responsible for the atrocities for the war crimes that the entire world has seen," Garland said Tuesday, per a video from a Department of Justice official. The big picture: Spiegel described for the first time publicly the company's long-term plan to build a Snapchat "super app," a strategy championed by Tencent in its creation of the widely successful super app WeChat. (Tencent took a 12% stake in Snap Inc. in 2017.) - "I think he's seeing a lot of what we saw in Asia, for example, and a lot of what we've tried to build." - "Twitter is clearly something that's close to his heart, something he really enjoys using, and he's got a ton of ideas about how to evolve the product." Driving the news: In an interview with Axios at the annual Cannes Lions advertising festival in France, Spiegel noted that while he's learned "not to predict" Elon Musk strategy, "when he talks about Twitter as a super app, I think that's an idea that's really compelling."

Elon Musk cautioned there are a number of issues to iron out before he can complete his $44 billion takeover of Twitter.

In May, Musk dropped plans to partially fund his purchase of Twitter with a margin loan tied to his Tesla stake and increased the size of the deal’s equity component. Twitter responded by giving Musk access to its full fire hose of public tweets, though it’s unclear if that data is truly helpful in calculating the number of bots. Striking a less ebullient tone than he adopts when discussing his Tesla ventures or humanoid robots, Musk on Tuesday declined to say with conviction the Twitter deal is going through. Twitter is officially banned in China, but the country uses it to spread its message overseas—sometimes with the help of its own spam bot armies. “Ideally, I’d like to get like 80% of North America and perhaps, I don’t know, half the world or something ultimately on Twitter in one form or another,” he said. His lawyer has said Twitter must cooperate by providing the data requested so that Musk can secure the debt financing necessary to consummate the deal.

The billionaire and Tesla CEO reiterated his desire to move forward with the acquisition last week, though Twitter shares remain far below his offering ...

Shares rose about 3% to $38.98 before the opening bell Tuesday, far short of the $54.20 per-share that Musk has offered for each share. If the deal were to close now, investors in the company would pocket a profit of $15.22 for each share they own. The company's stock last reached that level on April 5 when it offered Musk a seat on the board before he had offered to buy all of Twitter.

Shares rose about 3% to $38.98 before the opening bell Tuesday, far short of the $54.20 per-share that Musk has offered for each share.

Shares rose about 3% to $38.98 before the opening bell Tuesday, far short of the $54.20 per-share that Musk has offered for each share. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. If the deal were to close now, investors in the company would pocket a profit of $15.22 for each share they own.

Tesla CEO says shareholder approval, debt financing and answers to spam and fake accounts are needed to complete acquisition.

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One of Elon Musk's children has petitioned a California court to recognize her new name and gender, saying she no longer wishes to be related to her famous ...

The petition was filed by Xavier Alexander Musk, who turned 18 earlier this year and made the filing with a county court in Los Angeles soon thereafter. He has been criticized for some of his statements on Twitter regarding gender identity issues. : "I absolutely support trans, but all these pronouns are an esthetic nightmare."

The 18-year-old has asked to be recognised as female and have the name Vivian Jenna Wilson. She was known as Xavier Alexander Musk. The ...

This controversial piece of legislation restricts schools from teaching students about sexual orientation and gender issues, with teachers opening themselves up to lawsuits should they fail to comply. He then said: "I absolutely support trans, but all these pronouns are an aesthetic nightmare." Last year he complained about people using their own pronouns.

Musk's comments, echoing other CEOs, are accompanied by plan to lay off 10% of Tesla's salaried staff.

“Tesla is reducing its salaried workforce by roughly 10% over the next probably three months or so,” Musk said at the event hosted by Bloomberg. “We expect to grow our hourly workforce. And then will the shareholders vote in favour?” “A recession is inevitable at some point.

Elon Musk struck a sober tone Tuesday as he forecast a probable recession in the US and left doubts about his commitment to a $44 billion takeover of ...

Twitter's board of directors urged shareholders to approve Elon Musk's $44 billion takeover. But Musk says "unresolved" issues remain.

In addition to the financial aspects of the Twitter deal, Musk fielded questions about what stance he would take on the nature of content that would be allowed on the platform. “There’s this big difference between freedom of speech and freedom of reach, in that one can in the United States go to the middle of Times Square and yell pretty much anything you want. “That is an appealing system to use.” Eventually, he said, the goal would be to get “80% of North America and half the world” onto Twitter, which would be a steep increase from the current level of 229 million daily active users. In an SEC filing this morning, Twitter warned shareholders that if the deal does not go through, “the price of our common stock may decline significantly.” The balance of the funding will come via a yet-to-be-finalized set of bank loans. “That’s probably not most users’ experience,” he said at the Qatar event, in which he took part virtually.

Musk, the chief executive officer of Tesla Inc. and SpaceX, reiterated his support of Dogecoin, a cryptocurrency created as a joke in 2013, on Tuesday. He noted ...

World's richest man says layoffs are underway at Tesla amid supply constraints and explains why he likes Dogecoin, in Bloomberg interview.

If the deal, which shareholders need to vote on, were to close now, investors would pocket a profit of $15.22 per share.

Musk reiterated his concerns at the forum in Qatar, specifically in comments regarding the possibility of an impending recession. If the deal were to close now, investors in the company would pocket a profit of $15.22 for each share they own. Twitter CEO Parag Agrawal at the time did not explain Musk's decision to reverse course, saying only that it was "for the best."

Tesla is moving ahead with plans to layoff about 10% of its salaried staff, CEO Elon Musk said Tuesday. But he also expects the company's overall workforce ...

on those comments, stating in tweets that "total headcount will increase, but salaried should be fairly flat." "A year from now I think our headcount will be higher in both salaried and obviously in hourly," he said. We grew very fast on the salaried side and we grew a little too fast in some areas, and so it requires a reduction in salaried work force."

As Twitter's board endorses his $44 billion bid, the billionaire Tesla chief says there are “a few unresolved matters” holding up the works.

Rounding out the three issues that “need to be resolved” before the Twitter buyout can be completed is the question of whether the debt financing for the deal will “come together,” Musk said at the forum. “I think I am undecided at this point on that election,” Musk said. Earlier this month, a Twitter spokesperson said that the company is cooperating with Musk’s data requests and plans to “close the transaction and enforce the merger agreement at the agreed price and terms.” Still, the company is currently trading at $38.63, a far cry from Musk’s $54.20-per-share offer price and a sign of continued market skepticism toward the deal’s viability. “As to whether there is a recession in the near term, I think that is more likely than not. During a remote Q&A at Bloomberg’s Qatar Economic Forum on Tuesday, Musk asserted that “there are still a few unresolved matters” in regard to the deal going through, including whether Twitter’s shareholders will approve it.