Elon Musk has shared a dose of bad news for his electric vehicle company Tesla, explaining that its new factories in Germany and the United States are losing billions of dollars due to battery shortages and supply disruptions in China. Musk referred to Tesla’s Berlin and Austin, Texas plants as “gigantic money furnaces.” "Both Berlin […]
In May of this year, Elon Musk's electric vehicle company Tesla sold 32,165 China-produced vehicles, including 22,340 for export. This is according to the China Passenger Car Association. In contrast, April of this year saw Tesla sell 1,152 vehicles and export none as the company’s Shanghai factory halted work for 22 days from late March […]
Tesla CEO Elon Musk has accused Twitter of committing a “material breach” of his $44 billion deal to buy the social media giant and has threatened to walk away from the deal altogether. As part of a dispute over the number of fake accounts on Twitter, Musk’s lawyers have written to the social media company, […]
“What’s next?” tends to be the question on everyone’s lips during a company takeover. New ownership often brings new promises, new ideas and new ways of doing things. All of this has the potential to deliver momentous change, creating excitement and trepidation in equal measure, and fuelling second-guesses about what the future might hold. Attention […]
Tesla CEO Elon Musk has seen $46.4 billion wiped off of his net worth, according to the Bloomberg Billionaires Index. Meanwhile, Amazon founder Jeff Bezos is down $53.2 billion, and Microsoft co-founder Bill Gates has seen a $15.1 billion loss. At the time of writing, Forbes estimates Musk’s net worth to stand at $230.1 billion, […]
According to The Verge and CNBC, Shotwell, who joined the spacecraft company in 2002, sent an email to all SpaceX employees titled “the recent news story”, in which she defended Musk: “Personally, I believe the allegations to be false; not because I work for Elon, but because I have worked closely with him for 20 […]
Musk’s tweet, which soon went viral, came just two days after the Tesla CEO acquired Twitter in a $44 billion deal. “Next I’m buying Coca-Cola to put the cocaine back in,” Musk wrote, referring to the drink’s original 1886 recipe when it was a tonic for various ailments. Musk also shared a screenshot of a […]
The deal was shaken upon on Monday following weeks of speculation about Twitter’s future after Elon Musk’s emergence as the platform’s largest single shareholder on 4 April. On 14 April, Musk announced a takeover bid, offering $54.20 per share in the social media giant. Though initially opposed to the takeover, Twitter’s board warmed to the […]
On Monday, Tesla and SpaceX CEO Elon Musk said that Twitter’s board of directors will not receive a salary if his acquisition of the company is successful. In a Tweet, Musk wrote, “Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there.” Presently, Twitter spends approximately $2.9 million in cash […]
In an unexpected U-turn, Tesla CEO Elon Musk will no longer be joining the board of Twitter, reversing a collaboration announced just last week by the social media giant. Turning to Twitter, the company’s CEO Parag Agrawal wrote: “Elon Musk has decided not to join our board [...] The Board and I had many discussions […]
Tesla and SpaceX CEO Elon Musk has been given a seat on Twitter’s board following the news that the billionaire is now the social media giant’s largest shareholder with a 9.2% stake. On Tuesday, Twitter CEO Parag Agrawal tweeted, “Through conversations with Elon in recent weeks, it became clear to us that he would bring […]
Tesla and SpaceX CEO Elon Musk has said he is giving “serious thought” to building a social media platform. However, the billionaire didn’t go into detail on how his hypothetical social media platform would work or how it would look. Musk’s remark came after he claimed that Twitter, a social media platform that he uses […]
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