Tesla and 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

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

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

More than 200 long-time Wikipedia editors have requested that the Wikimedia Foundation stop accepting cryptocurrency donations. The foundation received crypto donations worth about $130,000 in the most recent fiscal year—less than 0.1 percent of the foundation's revenue, which topped $150 million last year. Debate on the proposal has raged over the last three months. "Cryptocurrencies are extremely risky investments that have only been gaining popularity among retail investors," wrote Wikipedia user GorillaWarfare, the original author of the proposal, back in January. "I do not think we should be endorsing their use in this way." GorillaWarfare is Molly White, a Wikipedian who has become something of an anti-cryptocurrency activist. She also runs the Twitter account "web3 is going just great," which highlights "some of the many disasters happening in crypto, defi, NFTs, and other web3 projects," the account profile says. In her proposal for the Wikimedia Foundation, … [Read more...] about Wikipedia community votes to stop accepting cryptocurrency donations [Updated]