Elon musk

Tech billionaire Elon Musk 's net worth has dropped below $200 billion after Tesla shares recently hit 11-month lows. Musk has lost about $77.6 billion of his net worth year-to-date. Tesla stock has been under immense pressure as of late, with shares dropping about 40 per cent since the start of the year. Musk's net worth has taken a substantial hit as a result. As per the Bloomberg Billionaires Index, Musk's net worth stands at $193 billion. This means that Musk had seen $77.6 billion of his wealth sheared off since the start of the year. Musk is still the world's richest person by net worth, however. His closest rival, Amazon founder Jeff Bezos , is currently listed with a net worth of $128 billion, the report said. Similar to Musk, Bezos' net worth has also taken a significant hit this year, dropping by $64.6 billion. Musk and his fellow multibillionaires have seen their net worth shrinks this year. Overall, the world's 50 wealthiest people, … [Read more...] about musk: Elon Musk’s net worth falls below $200 billion

Twitter Inc said in a filing on Friday it will not accept Egon Durban 's resignation from the board, two days after shareholders blocked his re-election at an annual meeting. Durban is an ally of Elon Musk , who has offered to take Twitter private in a $44 billion deal. Twitter said Durban failed to receive the support of a majority of the votes in the re-election held earlier this week due to "voting policies of certain institutional investors regarding board service limitations". Durban, who serves on the boards of six other companies, has agreed to reduce his board service commitments to no more than five public company boards by May 25, 2023, Twitter said. The social media company added that Durban was an "effective member" of the board and brings "an unparalleled operational knowledge of the industry". The vote on Wednesday against the re-election could indicate skepticism among shareholders of Musk 's plan or his willingness to pay what … [Read more...] about twitter: Twitter rejects resignation of Elon Musk ally Egon Durban

Twitter shareholders have filed a lawsuit accusing Elon Musk of engaged in "unlawful conduct" aimed at sowing doubt about his bid to buy the social media company. The lawsuit filed in the US District Court for the Northern District of California claims the billionaire Tesla CEO has sought to drive down Twitter's stock price because he wants to walk away from the deal or negotiate a substantially lower purchase price. San Francisco-based Twitter is also named as a defendant in the lawsuit, which seeks class action status as well as compensation for damages. A representative for Musk did not immediately respond to a message for comment on Thursday. Twitter declined to comment. Musk last month offered to buy Twitter for $44 billion, but later said the deal can't go forward until the company provides information about how many accounts on the platform are spam or bots. The lawsuit notes, however, that Musk waived due diligence for his "take it or leave it" … [Read more...] about musk: Twitter shareholders sue Elon Musk, say he ‘deflated’ stock price

Today, let’s talk about Facebook’s latest effort to make the platform more comprehensible to outsiders — and how its findings inform our current, seemingly endless debate over whether you can have a social network and free speech, too. Start with an observation: last week, Pew Research reported that large majorities of Americans — Elon Musk, for example ! — believe that social networks are censoring posts based on the political viewpoints they express. Here’s Emily A. Vogels : Rising slightly from previous years , roughly three-quarters of Americans (77%) now think it is very or somewhat likely that social media sites intentionally censor political viewpoints they find objectionable, including 41% who say this is very likely. Majorities across political parties and ideologies believe these sites engage in political censorship, but this view is especially widespread among Republicans. Around nine-in-ten Republicans (92%), including GOP leaners, say social media sites … [Read more...] about Why Elon Musk should read Facebook’s latest transparency report

Elon Musk was sued by a Twitter investor who alleges that he broke the law in a scheme to drive down Twitter's stock price. The lawsuit was filed Wednesday against Musk and Twitter in US District Court for the Northern District of California. It recounts much of Musk's behavior since he began investing in Twitter and since he agreed to buy the company for $44 billion. The lawsuit noted that "Tesla's stock is worth much less now than when Musk agreed to buy Twitter" as "Tesla's shares have declined by over 37 percent since the announcement of the Buyout." Musk, the CEO of Tesla, "pledged his Tesla stock as collateral for a $12.5 billion loan to finance the buyout of Twitter" and is thus "at risk of a margin call or a requirement to put up more cash," it says. "Musk quickly acted to attempt to mitigate these personal risks to himself by engaging in unlawful conduct that moved the price of Twitter's stock down," the complaint says. "Musk proceeded to make statements, send tweets, … [Read more...] about Lawsuit: Musk manipulated Twitter stock price in attempt to renegotiate sale

WTF?! Chinese military researchers are concerned about the potential threat posed by Space X's Starlink satellites and have urged the country to develop ways of destroying or disabling them. The news comes soon after CEO Elon Musk was threatened by the head of Russian space agency Roscosmos over the Starlink terminals that have been sent to help Ukraine. PCMag reports that China's Modern Defence Technology journal published a paper last month warning of the potential dangers posed by Starlink satellites. The study was led by Ren Yuanzhen, a researcher with the Beijing Institute of Tracking and Telecommunications under the PLA's Strategic Support Force, and was co-authored by several senior scientists in China's defense industry, writes the SCMP . "While [Starlink] is booming and also because of its huge comprehensive application potential, it has brought hidden dangers and challenges to our country," the paper reads. "A combination of soft and hard kill methods should be … [Read more...] about Researchers in China say country must develop ways to destroy Starlink satellites

Audio player loading… GameStop isn't stopping. While you might think of the retail outlet as the best place to buy a PlayStation 5 or Xbox Series X , the company became engulfed in memestock mania last year, driven on by Reddit users. But GameStop seems to have taken its revival to heart and has actually begun to release some interesting products that could turn around the ailing high street game and electronics retailer. GameStop has announced (opens in new tab) a forthcoming crypto wallet (opens in new tab) , letting users store their coins and NFTs in one place. The news comes after GameStop announced an NFT marketplace (opens in new tab) , which is also coming soon. GameStop Wallet "The GameStop Wallet is a self-custodial Ethereum wallet," the company says, meaning that users access the wallet using a unique private key, similar to bitcoin hardware wallets . "The wallet extension, which can be downloaded from the Chrome Web … [Read more...] about GameStop is launching a crypto wallet

Twitter has agreed to pay a $150 million penalty for targeting ads at users with phone numbers and email addresses collected from those users when they enabled two-factor authentication. Twitter agreed to the fine and "robust compliance measures to protect users' data privacy" to settle a lawsuit filed on Wednesday by the US government. "As the complaint notes, Twitter obtained data from users on the pretext of harnessing it for security purposes but then ended up also using the data to target users with ads," Federal Trade Commission Chair Lina Khan said . "This practice affected more than 140 million Twitter users, while boosting Twitter's primary source of revenue." The settlement was reached with both the FTC and Department of Justice. "The $150 million penalty reflects the seriousness of the allegations against Twitter, and the substantial new compliance measures to be imposed as a result of today's proposed settlement will help prevent further misleading tactics that … [Read more...] about Twitter pays $150M fine for using two-factor login details to target ads

Bottom line: Starlink has launched a satellite Internet service designed specifically with travelers in mind. Starlink for RVs is more or less the same as the company's residential service in terms of hardware and functionality albeit with a few important caveats. The service supplies Internet access on an as-needed basis anywhere Starlink provides active coverage. Users can pause and reactive service at any time to accommodate travel schedules, but service is charged in full monthly increments and cannot be pro-rated. There is no waitlist either – all orders will ship shortly after being received. Starlink now available for RVs, campers & other large vehicle users (note, antenna too big for cars) https://t.co/uwKwduNioj — Elon Musk (@elonmusk) May 23, 2022 Starlink for RVs cannot be used while a vehicle is in motion. Attempting to do so will void the warranty on your kit, Starlink notes in its FAQ . Service is also always de-prioritized compared to other … [Read more...] about Starlink launches satellite Internet service for RVs with no waitlist

Ford revealed its F-150 Lightning electric truck last year, serving as another sign that legacy auto companies are shifting to electric vehicles. Now the truck has finally started shipping to buyers. The Ford F-150 Lightning was unveiled last year , with a traditional truck design on the outside and all-electric internals. It immediately drew comparisons to Tesla’s in-development Cybertruck , with a Ford representative saying at launch that its customers “did not want their truck to look like a doorstop or a spaceship” — a clear jab at the Cybertruck’s polygonal design. The truck also has a large front trunk (a “frunk”) for storage, in addition to the rear bed, and enough built-in outlets to power tents and small homes for a short time. The truck was originally intended to start at $52,974 and max out at around $90,000, but as our sister site ReviewGeek pointed out, many dealerships were pricing high-end models for as much as $145,000 . Bloomberg reports that Michigan … [Read more...] about Ford Starts Shipping the F-150 Lightning Electric Truck