Elon Musk

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Musk: No Way I Can Get Fair Trial in San Francisco

Lawyers want Tesla trial moved to Texas, citing negative news coverage about Twitter

(Newser) - Elon Musk has urged a federal judge to shift a trial in a Tesla shareholder lawsuit out of San Francisco because he says negative local media coverage has biased potential jurors against him. Instead, in a filing submitted late Friday—less than two weeks before the trial was set to...

Elon Musk Has Now Lost the Most Money in History

Bloomberg reports he has become the first person to lose $200B

(Newser) - A little over a year ago, Elon Musk was sitting on the astronomical sum of about $340 billion in net worth, making him the richest human on the planet by a wide margin. Today, Bloomberg reports that Musk has became the first person in history to lose $200 billion. The...

Report: Things Are Getting Messy at Twitter HQ

Quite literally

(Newser) - Elon Musk has been "cutting costs like crazy," as he put it, at Twitter in a bid to reverse what he says is a projected negative cash flow of roughly $3 billion next year. The New York Times speaks with largely unnamed sources who detail the shape those...

As Tesla Stock Tanks, Musk Has a Message for Staff

CEO assures employees that, one day, 'Tesla will be the most valuable company on Earth!'

(Newser) - Short sellers are celebrating Tesla's plummeting stock prices , but investors aren't happy, and they're now begging CEO Elon Musk—who's sold off billions of dollars worth of his shares to help fund his newest company, Twitter—to stop dumping his stock. Tesla employees are also likely...

Twitter CEO's Other Company Is Not Doing Very Well

Elon Musk blames inflation

(Newser) - Barring any profoundly unexpected news in the coming days, Tesla stock has achieved its worst-ever annual stock performance, losing roughly 70% of its value since its November 2021 peak, per the Wall Street Journal . It's not all CEO Elon Musk's fault, per se, as there are a host...

Musk: I'll Keep Tesla Stock for 18 Months

Stock's value has plunged since Twitter purchase

(Newser) - CEO Elon Musk says he won't sell any more shares in Tesla for 18 months or more, likely an attempt to comfort shareholders of the electric vehicle company who have watched the stock lose nearly half of its value since Musk's purchase of Twitter. "I'm not...

Tesla's Big New Discount Raises Concerns

US buyers can get $7.5K off, which may be a sign of weakening demand

(Newser) - In assessing Elon Musk's business strategy at Tesla, the Wall Street Journal observes that Musk "has frequently boasted how Tesla stands apart from traditional car companies by not relying on the kind of marketing tools, such as advertisements or discounting, to goose demand." Consider demand goosed, in...

This Has Been a Stellar Year for Tesla Short Sellers

They've made around $15B betting against stock, analytics firm

(Newser) - Betting against Tesla was a ruinously bad move in 2020 and 2021, but a winner in 2022, traders say. The company's stock started 2020 trading at around $30 and it hit a peak of more than $400 in November 2021. But it sank to a two-year low of $137....

Musk Calls Him a 'Crazy Stalker.' Cops Call Him a 'Victim'

Police say member of Musk's security team is accused of hitting the man with his car

(Newser) - In explaining his decision to ban the Twitter account that publishes the location of his private plane, Elon Musk claimed it had shared the " real-time, exact location " of his 2-year-old son before a " crazy stalker " confronted a vehicle carrying the boy on Dec. 13. But police...

After Period of Silence, Elon Musk Is Tweeting Again
Elon Musk Says He'll
Resign as Twitter CEO
UPDATED
Dec 20, 2022 8:38 PM CST

Elon Musk Says He'll Resign as Twitter CEO

He says it'll happen 'as soon as I find someone foolish enough to take the job'

(Newser) - After a period of uncertainty, Elon Musk has confirmed that he plans to abide by the results of a poll that asked whether he should step down as Twitter CEO, which ended with 57.5% in favor of resignation. "I will resign as CEO as soon as I find...

Twitter Poll Wants Musk Out as CEO. He Promised to Abide

Most users want him to step down

(Newser) - Should Elon Musk step down as CEO of Twitter? He commissioned a new poll of users asking that question and promised to abide by the results. By Monday morning, the results were in: The majority of the approximately 17 million voters called for him to step down, 57.5% to...

Twitter Disallows Links to Instagram, Other Rivals
Twitter (Briefly) Disallows
Promotion of Rivals
UPDATED
Dec 18, 2022 5:15 PM CST

Twitter (Briefly) Disallows Promotion of Rivals

New policy is deleted, replaced with a poll asking users their opinion on it

(Newser) - Once again, a new Twitter policy has been swiftly rescinded. On Sunday, the platform said it would no longer let users promote accounts on rival platforms. But after what CNN describes as an "immense backlash," Twitter removed the blog post and tweet thread announcing the new policy. Instead,...

Musk Goes Back to Twitter Investors
Musk Goes Back
to Twitter Investors
Dec 17, 2022 2:05 PM CST

Musk Goes Back to Twitter Investors

Proposal for another round of funding again is based on a $44 billion valuation

(Newser) - Elon Musk has made investors an offer they might be able to refuse: Buy more shares of Twitter at $54.20, the price he paid in October when he took over the company—though the billionaire has since conceded he overpaid. A Tesla investor who said he chipped in less...

Musk Lets Journos Out of Twitter Jail, but EU, UN Are Ticked

United Nations calls the bans a 'dangerous precedent'; EU threatens sanctions

(Newser) - "The people have spoken." That was Elon Musk's overnight tweet on Friday announcing the results of his most recent poll, which asked his followers when to unsuspend the various reporters Twitter suspended earlier in the week for what Musk claims was real-time "doxxing" on his location....

Twitter Abruptly Suspends Numerous Tech Journalists

Musk claims they violated new policy on revealing locations

(Newser) - Elon Musk's claims to be a "free speech absolutist" were questioned once again Thursday night when Twitter abruptly suspended the accounts of numerous journalists who had been reporting on the CEO, including tech journalists from the New York Times, the Washington Post, CNN, and Mashable. Musk claimed they...

Twitter Suspends Account Musk Said He Wouldn&#39;t Ban
After Suspending @ElonJet,
Musk Tweets New Rules
UPDATED
Dec 15, 2022 12:51 AM CST

After Suspending @ElonJet, Musk Tweets New Rules

Account tracked billionaire's private jet

(Newser) - After the @ElonJet account was banned by Twitter, it was briefly reinstated, only to be banned again. The account of Jack Sweeney, @ElonJet's creator, and dozens of other accounts he operated, all remained banned Wednesday night, the Verge reports. After the accounts went dark, Elon Musk tweeted what are...

Twitter HQ Shedding Assets, Including Blue Bird Statue
Twitter Is Having a Fire Sale
Dec 14, 2022 2:25 PM CST

Twitter Is Having a Fire Sale

Now's the time to get your 3-foot statue of a blue bird logo

(Newser) - Twitter isn't just shedding workers, but also the stuff they used, from flat-screen TVs to espresso machines. Hundreds of "surplus corporate office assets" from Twitter's headquarters in San Francisco—where conference rooms have reportedly been turned into bedrooms —will be sold in a January auction organized...

Fauci: Twitter 'Almost a Cesspool of Misinformation'

He addresses Elon Musk's prosecution comment

(Newser) - Anthony Fauci addressed Elon Musk's Sunday tweets about him, telling CNN commentator David Axelrod in a podcast interview, "I don't respond to him." Fauci continued, "I don’t pay any attention to him because that’s merely a distraction. And if you get drawn into...

Musk Is No Longer the World's Richest Man

His net worth has fallen more than $120B this year

(Newser) - When Elon Musk announced his intention to buy Twitter in April, he said it wasn't about making money—and the acquisition definitely hasn't made him richer. After a steep decline in the value of Tesla stock, which accounts for most of his wealth, Musk is no longer the...

Twitter's Former Top Safety Exec Forced to Flee His Home

Meanwhile, social media company ditches its Trust and Safety Council

(Newser) - Less than an hour before a scheduled meeting between Twitter execs and the social network's Trust and Safety Council, the council was abruptly dissolved Monday night. "As Twitter moves into a new phase, we are re-evaluating how best to bring external insights into our product and policy development...

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