Twitter investors sue Elon Musk for failing to promptly disclose stake

Elon Musk's Twitter profile displayed on a computer screen and Twitter logo displayed on a phone screen are seen in this illustration photo taken in Krakow, Poland on April 9, 2022.

Jakub Porzycki | Nurphoto | Getty Images

A group of Twitter shareholders are suing Elon Musk for allegedly failing to disclose he had bought a significant stake in the social media company in the right timeframe.

The Tesla and SpaceX CEO revealed on April 4 that he had amassed a 9.2% stake inTwitter, leading shares to soar as investors viewed the move as a vote of confidence.

But his disclosure may have been too late.

Federal trade laws dictate that investors must inform the Securities and Exchange Commission within 10 days when they take a more than 5% stake in a company.

Musk, who started buying Twitter stock in January, allegedly hit this milestone on March 14, meaning he should have informed the SEC by March 24.

A representative for Musk, the richest person in the world, did not immediately respond to a CNBC request for comment.

The lawsuit, filed Tuesday in New York by law firm Block & Leviton on behalf of several Twitter shareholders, alleges that Musk was able to buy up more Twitter stock at a deflated price in theperiod between passing the 5% threshold and publicly disclosing his stake.

Half a dozen legal and securities experts have told The Washington Post that the delay may have helped Musk to net $156 million.

Twitter's stock popped 27% on Apr. 4 after it was disclosed that Musk had amassed his 9.2% stake, worth almost $3 billion.

The class action case has been filed on behalf of investors who claim they lost out on potential gains they could have realized had Musk disclosed his shareholding earlier.

"What seems crystal clear is that Elon Musk missed the applicable 10-day filing deadline under Sections 13(d) and 13(g) of the Securities Act of 1933 to report 5% ownership in a public company," Alon Kapen, a corporate transaction lawyer with Farrell Fritz, said in a statement shared with CNBC.

"That gave him an extra 10 days in which to buy additional shares (he increased his ownership during that time by an extra 4.1%) before the per share price spike that occurred when he finally announced his holdings on April 4," Kapen added.

After the disclosure of his Twitter stake, Musk revealed that he also intended to take a seat on the board of the company. However, for reasons that have not been announced, he has decided not to take the seat.

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Twitter investors sue Elon Musk for failing to promptly disclose stake

‘They Have So Much Power Over The White House’ – Elon Musk Explains About One Particular Group – Yahoo Finance

In a recent interview, Tesla Inc (NASDAQ: TSLA) CEO, Elon Musk said about the UAW: They have so much power over the whitehouse, they can exclude Tesla from an EV (Electric Vehicle) summit. The referenced EV summit was held in August of 2021, where President Joe Biden discussed the promising future of Electric Vehicles.

While President Biden has now referenced Tesla when discussing the future of EVs, that wasnt always the case. President Biden lauded the likes of Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) for being American made and the future of the county.

Related: Elon Musk Recommends Investing In 'Physical Things' - Here Are 3 Physical Assets That Perform Well During High Inflation

Knowing what we know now, the praise feels especially tone def and exclusive, given the recent reports from cars.com, citing Tesla, as the most American made manufacturer, who landed more cars in the top ten of American Made Models than any other manufacturer.

Musk has also said in an interview that In case that wasnt enough, then you have President Biden with Mary Barra at a subsequent event, congratulating Mary for having led the EV revolution. Musk continued I believe it was in the same quarter that GM delivered 26 Electric Vehicles, and Tesla delivered 300,000.

Musk confronted some of the perceived slights in a reply to a tweet from President Biden, in January of this year.

Musk is part billionaire, part twitter troll, but 100% competitive. He understands business, and is looking for respect. Love him or hate him, he and his companies have significantly altered our present, and will heavily imprint our future.

Build back better is still a moniker that President Biden belives in and is actively attempting to push forward. Seemingly, all EV manufacturers stand to benefit from any future bills, laws, etc., with Tesla, once again, leading the pack.

Read Next: Jeff Bezos Says Inflation 'Most Hurts The Least Affluent' Which May Be Why These Assets Are Performing Better Than Ever

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'They Have So Much Power Over The White House' - Elon Musk Explains About One Particular Group - Yahoo Finance

Elon Musk’s Twitter chaos is consuming SpaceX too – The Verge

Its always fun to check in with SpaceX, Elon Musks least dysfunctional company oh wait, whats this? The workers at SpaceX are upset?

Last week, as first reported by The Verge, a group of SpaceX workers wrote a letter to Musk about his tweets. Elons behavior in the public sphere is a frequent source of distraction and embarrassment for us, particularly in recent weeks, the letter states. As our CEO and most prominent spokesperson, Elon is seen as the face of SpaceX every Tweet that Elon sends is a de facto public statement by the company. It is critical to make clear to our teams and to our potential talent pool that his messaging does not reflect our work, our mission, or our values.

The plan was to hand-deliver signatures of those who agreed with the letter to SpaceX president Gwynne Shotwell, who effectively runs the company. Sure, Musks title is CEO, but hes largely a spokesmodel (although I suppose hes probably also taken on the project of berating the Starship engineers to go faster). Shotwells been working in aerospace since 1988, when Musk was still in college. Musk might be the ideas guy, but SpaceX is Shotwells show.

Subscribe to The Verge's limited-run newsletter occasionally revived when there's Too Much Elon News. (And right now, there is Too Much Elon News.)

This is obvious if you think about it even a little. Consider Tesla, which is the focus of most of Musks attention: constantly in crisis mode, incapable of meeting deadlines, and currently pretending that its manufacturing a Westworld knockoff robot. SpaceX is not like this! Its also plagued by delays, but it manages to fulfill its government contracts. Theres much less drama around SpaceX, which can only mean Musk isnt running it. Someone whos competent at basic management is and thats Shotwell.

But even Shotwell cant prevent Musks chaos from hitting SpaceX, especially now that hes threatening to take over a major social media company. Thus, the letter, which led to SpaceX firing five people.

Shotwell wrote an email delivered to the entire company that had an actual audience of one her boss noting that SpaceX had a lot of work to do and characterizing the letter as interfering with SpaceX employees ability to focus on and do their work. No mention was made of the actual issues raised by the employees, such as the allegations that the companys no asshole policy isnt real, and neither is its zero-tolerance sexual harassment policy. Nor was any mention made of Musks bid for Twitter, which is what prompted this cycle of Musk shitposting activity, which, in turn, created a distraction that interfered with SpaceX employees ability to focus on their work.

The zero-tolerance sexual harassment policy is a particular issue for SpaceX since SpaceX reportedly paid $250,000 to a flight attendant who says Musk exposed his penis to her and offered to buy her a horse if she gave him an erotic massage. This does not seem like a zero-tolerance policy for sexual harassment; it seems like a zero-tolerance policy for complaints about sexual harassment.

And, besides, Shotwell doesnt think the case uncovered by Business Insider is real: I believe the allegations to be false; not because I work for Elon, but because I have worked closely with him for 20 years and never seen nor heard anything resembling these allegations, Shotwell wrote in a separate email that was also sent to the whole company. Anyone who knows Elon like I do, knows he would never conduct or condone this alleged inappropriate behavior.

A company paying out for its CEOs bad behavior is consistent with an unenforced zero-tolerance sexual harassment policy. Five former workers also alleged last year that SpaceX doesnt take sexual harassment seriously. A former mission integration engineer also posted an essay where she described being groped during her internship and persistent sexual advances during the rest of her career there. I reported each incident of sexual harassment I experienced to HR, and nothing was done, wrote Ashley Kosak, the former employee, in her essay. I was told that matters of this nature were too private to openly discuss with the perpetrators.

Anyway, back to this recent letter. I dont know if these now-fired employees are going to take their case to the National Labor Relations Board, though some experts The Verge spoke to last week suggested their firing was illegal. Musk has already had run-ins with the NLRB, which slapped him on the wrist for anti-union activity at Tesla. As part of its judgment against Musk, he was ordered to delete a tweet. It is still live.

Indeed, one service Elon Musk has provided for America is demonstrating exactly how sclerotic our legal and administrative state actually is. I have been waiting with some interest for NASA to say literally anything about this dust-up. I suppose if I wait long enough, NASA will say this is not appropriate behavior just like it did with the Joe Rogan weed thing, where Musk hit a blunt on Rogans popular podcast. After an investigation following said blunt-hitting, NASA rewarded SpaceX with a bonus $5 million for employee education.

I got impatient, waiting for NASA, so I emailed the agency to ask for an interview about how it plans to handle all of this. Spokesperson Joshua Finch told me that hed try to get me a written response but didnt think hed be able to meet my deadline. Indeed, he didnt. Heres what he sent me after publication, in its entirety:

NASA takes seriously any allegations of harassment and is fully committed to providing a safe working environment. NASA contractors are responsible for adhering to workplace safety and health clauses in accordance with applicable contracts. Consistent with the Federal Acquisition Regulation, NASA generally is not involved in contractor decisions to hire/terminate employees.

This is kind of an awkward area for NASA, because NASA is also a boys club. According to a memoir by Lori Garver, the second-in-command during the Obama administration, Garver was called an ugly whore, a motherfucking bitch, and a cunt; told I need to get laid, and asked if Im on my period or going through menopause when her co-workers disagreed with her.

More to the point, though, SpaceX is the only US company that offers a ride to the International Space Station. SpaceX and Boeing both made deals with NASA as part of the Commercial Crew Program; at the time, NASA was relying on Russian rockets to ferry its astronauts. Boeings competing Starliner, which has been beset by delays, has not yet carried people; it only just managed to complete an uncrewed test.

Its not just NASA that relies on SpaceX. Its also the US military, though, unlike NASA, the military has options. Just last weekend, SpaceX launched a communications satellite called Globalstar-2, but satellite trackers believe the mission also carried covert payloads, which may or may not be related to the US military.

The Twitter acquisition is occupying less than 5 percent of his time, Musk has claimed. Given how public that 5 percent of his time is, it has an outsized effect on his other companies. Shotwell now has to manage SpaceX through her boss increasingly erratic public behavior. But this underlines her actual problem: shes not really the CEO of SpaceX even though she is, in many ways, functionally indistinguishable from most CEOs. One difference? When the actual CEO makes a mess, shes the one who has to clean it up.

Update June 27th, at 12PM ET: Adds NASA statement.

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Elon Musk's Twitter chaos is consuming SpaceX too - The Verge

Where Is Elon Musk? – TheStreet

Where is Elon Musk?

The CEO of Tesla (TSLA) - Get Tesla Inc. Reporthas disappeared from social media since June 21, the date of his last tweets. This date also marks his last recorded presence on social networks.

Normally two events could have caught his attention if we rely on his recent history on social media.

Musk has just taken an important step on Twitter, his favorite communication channel. In fact, the Tech tycoon now has 100 million followers, which makes him the sixth most influential and followed personality in the world on the microblogging website. He is also the only CEO to have so many followers.

The five people in front of him are former President Barack Obama, musicians Justin Bieber, Katy Perry and Rihanna and Portuguese footballer Cristiano Ronaldo. It's a safe bet that Musk will continue his ascent in this ranking.

If his fans and admirers celebrate this achievement, Musk remains silent.

The other event is the U.S. Supreme Court's decision to overturn Roe v. Wade on June 24. Roe v. Wade has been the landmark case for abortion rights since 1973, when the court ruled on a 7-2 vote that women had the constitutional right to an abortion.

Musk has accustomed us in recent months to intervening on all subjects with the idea of expanding his influence beyond the sole circles of tech and business. He took sides in the ultra polarizing debate on gun control. He did not hesitate to let it be known that his candidate for the 2024 presidential election would be Florida Gov. Ron DeSantis.

So far Musk hasn't said anything on abortion yet. But it is important to mention that in recent months the CEO of Tesla has encouraged people to have children as a response to the reduction in the world's population, "the biggest single threat to civilization right now," according to him.

Since his June 21 tweets, the Tesla CEO seems to have decided to finally become a normal or classic boss. He gave an interview last Saturday to CleanTechnicas Johnna Crider at the companys Gigafactory in Austin, Texas. It's for Criders podcast, Getting Stoned, according to posts posted by the podcaster who promises to broadcast this exchange "soon."

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Apart from this interview, Musk seems to have disappeared. But this intended or undesired disappearance came as people begin to express a "Musk fatigue."

Employees of his rocket company SpaceX recently wrote an open letter in which they denounced his media omnipresence. They were then fired. This decision has somewhat damaged the image of defender of free speech that Musk claims and that he put forward as one of the arguments for which he wants to acquire Twitter as TheStreet's Rob Lenihan reported.

"Elons behavior in the public sphere is a frequent source of distraction and embarrassment for us, particularly in recent weeks, the employees wrote. As our CEO and most prominent spokesperson, Elon is seen as the face of SpaceX every tweet that Elon sends is a de facto public statement by the company.

A few days later, it was revealed by celebrity news site TheBlast that one of his seven children, who has become transgender, wanted to change their name to cut all ties with their father.

"I no longer live with or wish to be related to my biological father in any way, shape or form," Musk's transgender daughter said in a petition.Born Xavier Alexander Musk, she asks to be called Vivian Jenna Wilson so that her name matches her gender

Wilson is the maiden name of her mother, divorced from Elon Musk in 2008.

The request was filed in April in a court in Santa Monica, Calif.

The billionaire has in the past written posts on Twitter criticizing the fact that transgender or non-binary people ask to be identified by specific pronouns, including this tweet dating from December 2020:

"I absolutely support trans, but all these pronouns are an esthetic nightmare."

And DeSantis, his favorite candidate for 2024, recently signed legislation, known by Don't Say Gay law, to restrict discussions of homosexuality and trans issues in Florida's public schools.

The richest man in the world had a total of eight children: six with Justine Musk, born Wilson in the 2000s, one of whom died a few weeks after birth, and, more recently, two with musician Grimes.

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Where Is Elon Musk? - TheStreet

The possible two reasons Elon Musk hasn’t tweeted in nearly a week – Marca English

When the new deal to buy Twitter was announced, Elon Musk began tweeting several times on a daily basis. His tweets ranged a variety of topics from economics, to technology, politics and a lot of memes. Knowing he could potentially buy the platform, he became increasingly more active with his 100+ million followers, which represents 43% of all users in the platform.

However, this drastically changed last Friday for some mysterious reason and we are going to analyze Musk's actions. Over the full week, the Tesla CEO hasn't made a single tweet about anything. His last response to a tweet was a meme where he compares himself to Marvel's The Hulk. As far as single tweets go, he posted another meme where he mocks the gas prices in America.

The most obvious reason Elon Musk hasn't tweeted in a full week is because he is probably negotiating the deal to buy the company. There was probably a clause in the contract that prevents him from making any publication about anything while he is closing the $44 billion deal.

After this negotiation period is finished, we will probably see him return more active than ever on the platform. But there is another hidden reason Elon Musk is probably silent, it has to do with the Roe v. Wade ruling overturn from last week. Musk has a direct interest in this decision over women's rights, he's been talking about it for many years.

What does appear interesting for the world is Elon Musk's set tweet at the very top of his profile. He has been talking about dropping fertility rates since the '1970s for many years. In his view, the biggest issue in the world is the lack of babies being born. Although he hasn't mentioned the word abortion once, last week's Supreme Court decision to overturn the landmark Roe v. Wade case ruling lines up directy with what Musk has been talking about for years.

Everything is clear now, Elon Musk has always been in favor of life because he thinks more babies need to be born in order to preserve human civilization. When he gets to tweet again, watch how he sides with the Republicans on this issue as he's done it on so many more things.

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The possible two reasons Elon Musk hasn't tweeted in nearly a week - Marca English

What Is Elon Musk’s Accent? – We Got This Covered

NEW YORK, NEW YORK - MAY 02:Elon Musk attends The 2022 Met Gala Celebrating "In America: An Anthology of Fashion" at The Metropolitan Museum of Art on May 02, 2022 in New York City. (Photo by Dimitrios Kambouris/Getty Images for The Met Museum/Vogue)

When you think about Elon Musk, what comes to mind? Is it his mind boggling wealth? His intelligence? How about his penchant for dating beautiful women? All those things are true, but one thing that keeps coming up again and again is Musks accent.

Its a little Canadian? A touch of Afrikaans? Maybe some American slang thrown in? Its hard to tell, but with a little digging we find out that the answers been right in front of us the whole time. However, in order to understand Musks accent, we need to understand where hes from. Lets dig in.

Musk was born on June 28, 1971 in Pretoria, South Africa. His father was native South African and his mother was Canadian. He left South Africa in 1988 after he procured a Canadian passport, because he didnt want to support the countrys policy of apartheid by joining the military.

He was 17 when he moved to Canada and 30 when he moved to the United States. When he was a child, he attended private school. Musk has admitted in the past that his father had no faith in his son and told him he wasnt going to amount to anything.

When the young Musk moved to Canada, his father told him he would be back in a few months. Musk has called his father evil and his father answered this claims by telling The Daily Mail that his son simply needed to grow up.

He needs to get over himself. Im not going to hit back. Im going to wait until he comes to his senses. Hes having a tantrum, like a spoilt child. He cant have what he wants and now I am apparently an evil monster.

Musks tri-country upbringing definitely affected the way he speaks. His accent is a mix of English South African mixed with Canadian and American English elements. Thats why it sounds so unique to everyone its a mix of three different dialects.

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What Is Elon Musk's Accent? - We Got This Covered

Can you solve it? Are you smart enough to work for Elon Musk? – The Guardian

In the early years of rocket company SpaceX, CEO Elon Musk liked to set job applicants the following problem:

Youre standing on the surface of the Earth. You walk one mile south, one mile west and one mile north. You end up exactly where you started. Where are you?

The most common response was the North Pole, which is a correct answer. Indeed, the question is an old chestnut. (The earliest known reference to a version of this puzzle is 1821.)

According to Musks biographer Ashlee Vance, however, Musk would then ask: Where else could it be?

That is todays first puzzle: where else could it be?

The shape of the Earth (and Mars, fwiw) leads to many other excellent puzzles. Here are three of them:

1. One direction

You are standing on the surface of the Earth. You head north and travel for ten miles in a straight line. After a quick stop, you again head north and travel another ten miles in a straight line. You end up exactly where you started. Where are you?

2. Squaring the circle

You are standing on the surface of the Earth. You walk ten miles north, ten miles west, ten miles south and then ten miles east. You end up exactly where you started. Where are you?

(Note: this is not a trick question. Since the Earth is spherical, almost all starting points will not get you back to where you started.)

If you think you have an answer, I will Elon Musk it right back at ya: where else could it be?

3. Brain Fogg

In the Jules Verne story Around the World in Eighty Days, Phileas Fogg leaves London on October 2, 1872. He travels via Egypt, India, Japan, the US and his final leg is across the Atlantic. As the books title indicates, the trip takes him 80 days. What day did he arrive back in London?

(Note: the eightieth day after October 2 is December 21.)

Clarification for pedantic astronomers, geographers and physicists: assume the Earth is a perfect sphere.

Ill be back at 5pm UK with the answers.

UPDATE: Solutions are now posted here.

Meanwhile NO SPOILERS. Please instead discuss the shape of the world.

I set a puzzle here every two weeks on a Monday. Im always on the look-out for great puzzles. If you would like to suggest one, email me.

Im the author of several books of puzzles, and also the childrens book series Football School. The latest instalment, The Greatest Ever Quiz Book, is just out.

I give school talks about maths and puzzles (online and in person). If your school is interested please get in touch.

Sources: 1) Adapted from a puzzle by David Singmaster, 2) Murray S Klamkin, Mathematics Magazine 1958/9

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Can you solve it? Are you smart enough to work for Elon Musk? - The Guardian

Take note, Elon Musk: this company is quietly dominating the EV race – Business Standard

Pipe down for a second Elon, the hottest things in the auto industry the most electric electrics now come from Hyundai Motor Co. and Kia Corp.

Earlier this year, the South Korean carmakers rolled out two new battery-powered cars the Hyundai Ioniq 5 and its sibling, the Kia EV6 which promptly tore up the sales charts, passing the Nissan Leaf, Chevrolet Bolt and every other electric vehicle on the market not made by Tesla. In the US this year through May, Hyundai and Kia sold 21,467 of these two machines, besting even the white-hot Ford Mustang Mach-E, which was snapped up by 15,718 drivers.

From an EV perspective, theyre really just kind of cleaning the floor, said Edmunds analyst Joseph Yoon. I honestly dont know if any dealers around me have any in stock.

Tesla still sells far more cars, but it took the company a decade to deliver as many electric vehicles as Hyundai and Kia have managed in a few short months. Even Musk has been impressed.

Granted, Hyundai is no startup. And the design of the current hits started about six years ago, according to Steve Kosowski, manager of long range strategy at Kia America. At the time, the Chevrolet Bolt had just hit the market and Kia considered a car similar in size and scope. Ultimately, Kosowski and company green lit something far larger, sportier and swankier at a slightly higher price.

The thinking was, with the platform we have and the market understanding we have, lets put together a really bold, breakthrough proposition, he recalls. Were going to make a statement that Kia is here.

The timing was favorable. EV adoption is picking up in the US, thanks to a surge in both climate concern and gasoline prices. And though theres a run on battery-powered vehicles, there still arent many to choose from. Of the 30 or so models for sale on the US market, only a handful can be had for less than $45,000 and most of those are relatively small, dated cars like the Nissan Leaf.

The Ioniq 5 and EV6 both offer the cargo space of a small SUV, the size and shape of vehicle that has taken over US garages of late. Both cars ride on the same modular platform, incorporate the same motors and batteries and post similar speed specifications. They are tricked out with screens and charge at some of the fastest rates in the industry, adding almost 16 miles of range in a minute under ideal conditions. They also offer a couple features that are novel in the space: pedals to adjust regenerative braking and bi-directional power (yes, you can run power tools or charge another EV with one of these machines).

Starting around $40,000, they are drawing buyers with smaller budgets who otherwise may have bought a starter sedan, says Yoon at Edmunds. And yet, they are plush enough inside to pull from the top of the market as well, as drivers trade in luxury cars with internal combustion engines.

These two cars have come in kind of at the right price and the right size for a lot of buyers, Yoon said. And I think theres a level of inherent trust with a big manufacturer getting in the game with a mainstream.

Emad Zia and his wife had only been planning to dip our toes in the EV market when Hyundais new cars launched this winter. The two are fond of sporty cars preferably with a stick shift but wanted something bigger than the Volkswagen Golf R and Mazda Miata in their Dallas garage. They settled on the Ioniq 5 purely based on photos and speed specs, then ordered an EV6 when they couldnt find the Hyundai anywhere close to the sticker price.

Were used to having I dont want to say underdogs but unique cars, Emad Zia explained. And the looks and uniqueness of this car just doesnt get old.

So far, roughly three in four EV6 buyers were previously driving a car from another brand, according to Kia, and only one in 10 has previously owned a plug-in vehicle. The current waitlist for the EV6 is about six months long and the average transaction price is a few thousand dollars above the sticker price, according to Bloomberg Intelligence, which suggests most buyers are willing to pay a premium.

Our dealers are reporting that these cars are sold within hours, said Eric Watson, vice president of sales at Kia America Inc.

Kosowski said the new Hyundai products are capitalizing, in part, on Tesla fatigue, as the first-mover sedans and SUVs become ubiquitous even beyond coastal states. Also, Hyundai owners are sticking with what they know of those trading in a Hyundai or Kia recently, about 60% stayed with the brand, according to Edmunds.

Hyundai plans to launch a new battery-powered car every year for the rest of the decade and is spending $16.5 billion to boost EV production in South Korea. By 2030, the automaker wants to claim 12% of the global EV market, some 3.2 million cars and trucks.

They definitely have a leg up, Yoon says. Toyota and Subaru will have to see if they can catch them.

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Take note, Elon Musk: this company is quietly dominating the EV race - Business Standard

Why did Elon Musk pin a tweet about birth rate in the US after the overturn of Roe vs Wade? – AS USA

Many companies in the US have been quick to announce their support for access to abortion by offering to pay workers the associated cost of having to leave a state for the procedure. One of these companies is Tesla which recently moved its headquarters to Texas, a state that is expected to ban abortions in the coming weeks.

Despite this, company CEO Elon Musk has not made any statement about the Supreme Court ruling, nor the decision by his company to help those needing medical care. Instead, he has this tweet pinned to the top of his profile.

The tweet has garnered a lot of attention, with many people attempting to read the subtext behind what it could mean. Discussion surrounding fertility rates have long been considered a racist dog-whistle, which is what will be explored here.

Musk recently suggested that he may vote for Republican Ron DeSantis if he were to run in the 2024 presidential election. It is unsurprising for a businessman to want to vote for a party that is extremely pro-business. However, it is some of DeSantis other beliefs that could give some cause for concern that one of the worlds richest people is supporting his candidacy. DeSantis, currently the governor of Florida, comes from the Trumpian wing of the Republican party, a faction which has staked its claim to popular support by its embracing of far-right ideas.

The Republican party has made anti-immigration rhetoric a key part of its electoral platform. Migration and fertility rates are very much linked when it comes to the conservative discourse on both matters which has been reflected in conservative media coverage. Fox News, a key conservative media outlet, has hosts like Tucker Carlson discussing thinly-veiled claims of a replacement of white Americans by immigrants. This is called the great replacement.

This specific right-wing idea has long held sway in the far-right in the US. It provided an excuse to keep segregation, to stop a mixing of white and Black Americans for the fear that whites could lose their racial majority.

And its not just TV hosts discussing this, the discourse is bleeding into the political sphere. Republican Representative Scott Perry of Pennsylvania said in a House Foreign Affairs committee hearing last year that immigrants were being used to purposely replace native, in this context meaning white, Americans.

For many Americans, what seems to be happening or what they believe right now is were replacing native-born Americans to permanently transform the landscape of this very nation, said Rep. Perry.

This all links back to the discourse on abortion. In what has later been called a mistake, Illinois Republican Mary Miller told a crowd at a rally alongside Donald Trump that the Supreme Court abortion ruling was a victory for white life, which was received with roaring applause.

So with this tweet Elon Musk finds himself amongst company that is openly supporting a right-wing myth. Tesla have announced that they will be financially supporting workers who want to go to other states for abortions, though it seems their CEO is not greatly enthused by this.

Past two years have been a demographic disaster, Musk replied to his pinned tweet. Findings from the 2020 census found a decline in the nations white population for the first time, as well as further diversity in American youth. Perhaps these are the demographic disasters Musk means.

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Why did Elon Musk pin a tweet about birth rate in the US after the overturn of Roe vs Wade? - AS USA

Why Elon Musk Is $30 Billion Poorer This Week – Forbes

Tesla CEO Elon Musk

Tesla shares are down 15% since last Friday, making it a bad week for the worlds richest person.

Tesla and SpaceX chief Elon Musk lost $15.7 billion of his net worth on Wednesday, as shares of his electric vehicle maker fell by 8%. The worlds richest person (worth an estimated $224.5 billion) is now $31.4 billion poorer than he was last Friday, according to Forbes estimates, as Teslas market capitalization has cratered by 15% this week far more than the 6% drop in the tech-heavy Nasdaq.

According to Wedbush analyst Dan Ives, Shanghai factory issues due to the zero Covid policy in China have been a major overhang on the stock in an already jittery tapereferring to the drop in tech stocks, which Ives describes as a massive risk off with Tesla front and center. With inflation surging and interest rates rising, investors appetite for assets considered to be relatively speculative is waning.

Speaking at the Financial Times Future of the Car Summit Tuesday, Musk did his best to alleviate investors concerns, citing encouraging conversations hes had with the Chinese government in recent days about the countrys latest round of lockdowns, though he did hint at the possibility of restricting new Tesla orders in the short-term.

Were actually probably going to limit that just stop taking orders for anything beyond a certain period of time, Musk said.

That must have been discouraging to hear for Tesla investors already concerned about the distraction posed by Musks $44 billion Twitter takeover. At the FT summit Tuesday, the Tesla chief insisted that he is confident we will be able to sell all the cars we can make. But according to Wedbushs Ives, Musk distraction issues remain at play as an overhang on the stock. By distraction, Ives means the ongoing process of purchasing Twitter.

While the Tesla CEO announced he has raised $7.1 billion from a group of A-List investors last Thursday to help fund his Twitter acquisition, he still hasnt explained where the remainder of the $27.3 billion equity commitment he made to Twitters board will come from. And the list of potential distractions for Musk, who already runs two companies, keeps getting longer.

According to an investor pitch deck leaked to the New York Times last Friday, Musks Twitter turnaround plans may be even more ambitious than Tesla investors imagined: he reportedly hopes to quadruple users and quintuple revenue by 2028, while cutting Twitters reliance on its main revenue source (advertising) in half. That sounds like a lot of work for Musk, who is expected to serve as Twitters interim CEO after the deal closes, according to a report by CNBC. Musk has also reportedly said that he plans to take Twitter public again in as few as three years, hinting at a time consuming IPO process lingering down the road.

And thats assuming the deal closes promptly. Twitter short-seller Hindenburg Research is betting that wont be the case, saying in a note released Monday that it sees a significant risk that the deal gets repriced lower due to the declining values of tech companies since Musk made his initial offer. In other words, Musk may have some bargaining left to do with Twitters board.

Musk could always just walk away from the deal, which keeps on getting more expensive. His stake in Tesla, worth $167 billion today, was worth $235.1 billion on April 13, the day before he announced his Twitter takeovermeaning Musk was more than $68 billion richer before he made his plans for the social media company public. For now, Musk remains the worlds richest person by a long shot, worth $78.3 billion more than runner-up Bernard Arnault of French luxury empire LVMH. But at some point, the Twitter deals $1 billion breakup fee may start to look like a bargain.

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Why Elon Musk Is $30 Billion Poorer This Week - Forbes

Elon Musk expected to serve as temporary Twitter CEO after deal closes – CNBC

Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, sources told CNBC's David Faber.

An SEC filing on Thursday revealed Musk secured approximately $7.14 billion in equity commitments from friends and other investors to buy Twitter. Faber said Musk handpicked the investors. Commitments range from $1 billion from Oracle co-founder Larry Ellison to $5 million from Honeycomb Asset Management, which invested in SpaceX. Faber added that Twitter co-founder Jack Dorsey may back it, and Musk is talking to him about the possibility of contributing shares immediately or before the closing of the merger.

Twitter CEO Parag Agrawal has only led the company for a few months, after assuming the helm from Dorsey last November. Until now, there hadn't been much discussion about whether Musk's takeover of the company would lead to a leadership shake-up. Last month, Reuters reported Musk had lined up a new CEO for Twitter, citing a source familiar with the matter.

Agrawal told employees during a companywide town hall meeting last month that the future of Twitter is uncertain under Musk, according to a separate Reuters report.

"Once the deal closes, we don't know which direction the platform will go," Agrawal reportedly said when asked whether the company may allow former U.S. President Donald Trump to return to the platform when Musk takes over. Trump was permanently suspended from Twitter last year.

Musk's acquisition of Twitter comes at a key time for the company. Agrawal has said he would focus on growing Twitter's daily active user base and bringing new products to customers. In the company's latest earnings report, Twitter said it hit 229 million monetizable daily active users, a 15.9% increase from the same period last year.

Musk, who is the CEO of Tesla and SpaceX, has recently led presentations in front of investors, where he gave financial projections based on his analysis of Twitter, according to sources familiar with the situation who spoke with Faber.

Musk told investors that he felt Twitter's earnings before interest, taxes, depreciation and amortization margin was too low and the company has "too many engineers not doing enough," Faber said, citing sources familiar. Musk also pledged to make the company a "magnet for talent," Faber added.

Shares of Twitter rose 2.8% on Thursday. Tesla's stock slid more than 8% amid a broader market selloff.

Representatives from Twitter declined to comment.

WATCH: Elon Musk's challenge will be fixing Twitter, not buying it, says Wedbush's Dan Ives

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Elon Musk expected to serve as temporary Twitter CEO after deal closes - CNBC

Elon Musk is zeroing on a new Asian production hub for his Teslas. It’s not India – Economic Times

From India to Indonesia, Elon Musk is scouting out sites to make more Teslas for global roads. With the world mired in supply chain chaos, access to materials matters most. Hes got it right.

After lobbying against Indias tight policies around manufacturing and prohibitive import duties, Musk is headed to meet Indonesias President Joko Widodo and visit several areas across the country, which is also the top producer of nickel, a key metal for batteries. Thats an astute bet for Tesla and Indonesia. And a missed opportunity for New Delhi.

To meet ambitious electric vehicle targets, Indonesia has drawn in several battery and car manufacturers in recent months with a variety of incentives. Government ministers say they hope to have investment across the supply chain.

Meanwhile, the worlds largest powerpack maker Contemporary Amperex Technology Co. is investing almost $6 billion in a battery project with state-backed PT Aneka Tambang Tbk and PT Industri Baterai Indonesia. Further up the value chain, Chinas Zhejiang Huayou Cobalt Co. and PT Vale Indonesia Tbk announced last month they would work together on the formers fifth nickel project in the country.

The move by companies across the EV supply chain into the Southeast Asias largest economy shows how important it is to be close to the source of raw materials that feed into manufacturing. If theres one thing the past year of logistical screw-ups and delays has shown the industry, its that proximity is key. Even if global supply and demand is balanced on paper, moving industrial goods around has become expensive, slow and cumbersome.

Tesla knows this well. It has created large manufacturing hubs in China and now Germany countries known for their prowess in industrial production and policies that will help sell its cars. After having trouble making EVs in the US, its market share has grown globally. Now the company is looking to secure materials and make its own batteries, while stopping short of buying mines and getting into a new business. Wherever Musk sees problems in the production process, he looks for a solution. Tesla is essentially creating discrete supply chains across the globe.

Automakers wouldnt have necessarily made their way to Indonesia. The country churns out around 1 million cars in a good year, and is dominated by Japanese producers smaller vehicles. The auto market pales in comparison to the likes of China and the US, and EVs make up a small portion. In addition, its geography doesnt make it an ideal place for electric vehicle charging stations and infrastructure connectivity, although the government aims to make the capital, Jakarta, and the tourist hub of Bali model centers for greener transport.

Potential sales generated in Indonesia wouldnt really move the needle for Tesla. Yet, the country is leveraging existing resources, an EV business-friendly policy and the right story to make it fertile ground for large-scale investment. The moment that happens, Indonesia will be able to boast about its battery manufacturing supply chain on the global scale a much vaunted accolade these days that even the US is vying for. Private investment into manufacturing batteries will only draw more attention.

Meanwhile, India continues to hem and haw around whether it will lift duties. Government officials there have made big, bold statements about their ambitions, talking up their desire to draw in Tesla. Earlier this month, Road Transport Minister Nitin Gadkari went as far as to say that Tesla would benefit from manufacturing in India. Yet customers who placed orders are still waiting and its unclear how Musks firm would get a leg up. Now, there are questions around whether Tesla will make its way into India at all, given all the roadblocks.

That probably is a good bet, too. Setting up manufacturing now, especially as companies struggle to procure parts for their products and deal with logistical issues and high shipping costs, is the one thing firms dont want to face. Progress toward EVs has been scattered and commitment isnt clear. Toyota Motor Corp., one of the worlds biggest automakers but a laggard in EVs globally, has pledged to invest $624 million to making EV-related components through its existing units in India, however its unclear who they will buy them. Even Indias dominant automakers

Indias vaccine king, Adar Poonawalla, also decided to weigh in earlier this month. He tweeted that putting capital into making cars in India would be the best investment Musk would ever make. Thats perhaps too optimistic.

EV and battery manufacturers are in high demand across the globe and it will take far more than bold words and political ambition that includes making existing resources available and coming up with a coherent policy that manufacturers can work with. Its bizzare, then, Prime Minister Narendra Modis government continues to hold back. Yes, there are a few domestic EV models however, the Indian auto market remains an aspirational one. That means wide-scale adoption will pick up pace where there are models that people want to buy like Teslas Model 3 or enough charging facilities that make it easy, as the evolution of the two-wheeler market showed.

Much like China made Tesla a global company, Indonesia could do the same for its battery supply chain. All while making manufacturing more affordable and eventually, electric vehicles, too. Its a means to an end and a smart one at that.

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Elon Musk is zeroing on a new Asian production hub for his Teslas. It's not India - Economic Times

Elon Musk says he would allow Donald Trump back on Twitter – CBS News

Elon Musk said on Tuesday that he would allow former President Donald Trump back on Twitter if the Tesla CEO follows through with his plan to buy the social media company. Trump was permanently banned from the social media site three days after the January 6 attack on the Capitol because of "the risk of further incitement of violence."

In an exclusive interview with theFinancial Times at the Future of the Car conference on Tuesday, Musk was asked about Trump's potential return to Twitter. After answering with commentary about when permanent bans should be applied, Musk said that he "would reverse the permanent ban" against Trump, adding, "I don't own Twitter yet so this is not a thing that will definitely happen."

Musk noted that Trump has since resorted to using the platformTruth Social, which was created by Trump Media & Technology Group. Following Musk's acquisition of Twitter, Trump said that he would still not consider going back to the platform, even if his account is reinstated.

Instead, he told Fox News last month that the number of users on Truth Social is growing and that the platform is "much better than being on Twitter."

"The bottom line is, no, I am not going back to Twitter," he said.

But Trump using a different platform, Musk said, is "worse than having a single forum where everyone can debate."

"I think that was a mistake because it alienated a large part of the country and did not ultimately result in Donald Trump not having a voice," Musk said. "...Banning Trump from Twitter didn't end Trump's voice. It will amplify it among the right, and that is why it's morally wrong and flat out stupid."

Trump was banned following last year's deadly assault on the U.S. Capitol. Prior to the attack, he had regularly touted conspiracy theories and false claims of voter fraud, both of which contributed to the January 6 attack, during which a throng of his supporters attempted to overturn the 2020 presidential election.

"After close review of recent Tweets from the @realDonaldTrump account and the context around them we have permanently suspended the account due to the risk of further incitement of violence," Twitter said in a statement at the time.

When asked if he stands by his statements even considering Twitter's original reasoning for banning the then-president, Musk said that "bad" tweets should simply be deleted or made invisible. A "temporary suspension" would also be appropriate, he said.

"Perma-bans just fundamentally undermine trust in Twitter as a town square where everyone can voice their opinion," he said. "I think it was a morally bad decision, to be clear, and foolishly extreme."

Musk said that he believes permanent bans should be "extremely rare" and reserved for "bots, or spam/scam accounts." However, that doesn't mean people will be able to say whatever they want, he said.

Anyone who posts something illegal or "destructive to the world" should face a "time out," temporary suspension or have their tweet made invisible, Musk said.

Musk reached a deal at the end of April to buy Twitter for $44 billion, saying after the deal was announced that he plans to ensure that the platform is dedicated to free speech.

"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," he said in a statement.

The deal with Twitter could close this year.

Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues.

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Elon Musk says he would allow Donald Trump back on Twitter - CBS News

Former Twitter vice president on Donald Trump, Elon Musk, and billionaires’ whims controlling social media – Sky News

Having huge social media platforms controlled at the "whim of billionaires" is "wholly undemocratic", a former vice president of Twitter has told Sky News.

Bruce Daisley spent eight years working for the US tech giant between 2012 and 2020, and was speaking after Elon Musk agreed a $44bn (35.6bn) deal to buy it.

He said: "Billionaires' whims controlling media is something we've always been subject to and something we've witnessed in press and broadcast.

"But now it's coming to social platforms and the danger is it feels wholly undemocratic.

"In a democratic society the opportunity to have oversight over these incredibly powerful tools is probably something of a right.

"One of the challenges is we are allowing, and almost deferring the control of what we read and what we see - broadly to the winner of who has got the biggest pile of cash."

His comments come as Mr Musk announced he would reverse the platform's "foolish" ban on Donald Trump if his acquisition goes through.

The former US president was sanctioned "in the midst of the 6 January insurrection after repeated warnings, and final warnings", Mr Daisley said.

"He was posting things saying he thought the people invading the Capitol were loyal to him and just effectively probably drove the leadership of the organisation (Twitter) to the point where they had no choice.

"And so most people on 7 January would have said the ban was justified and most media accepted that. But I guess we've all got short memories.

"Ultimately it shouldn't be one person's decision if he comes back."

Read more:Elon Musk's plans for his new 'toy' sound like nonsense - but don't underestimate himInternet troll, 'dangerously deluded' billionaire or rogue entrepreneur: The many faces of Elon Musk

Asked how social media platforms could be made more accountable, Mr Daisley suggested greater transparency and awareness of their rules and regulations.

He said: "Quite often technology companies shroud themselves in secrecy. They try and say their algorithm is complicated and sophisticated and so the consequence of that is they avoid too much scrutiny.

"If people knew the amount of employees working on responding to issues or if people know the amount of people working to keep toxic tweets away from them - if they knew how small those teams were then they would have an opinion on it.

"Every platform from Facebook to YouTube to Twitter should have to publish the amount of people they've got working, responding to customer enquiries, reports of abuse.

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"We often see these things only when they intrude into the news. A Premier League footballer is subjected to racist abuse. The first thing we say is 'how did this happen?'

"Well, if we knew it happened because there is a small team, the size of the number of Uber passengers in a car - and they're dealing with it in Hungary - if we knew all those things were the components then we would see it was obvious why it happened."

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Former Twitter vice president on Donald Trump, Elon Musk, and billionaires' whims controlling social media - Sky News

Elon Musk denies claim by Truth Social boss that Trump encouraged him to buy Twitter – CNBC

Elon Musk, CEO of Tesla, speaks to media representatives at the Tesla Gigafactory construction site In Grnheide near Berlin, September 3, 2020.

Julian Sthle | picture alliance via Getty Images

Elon Musk on Friday flatly denied a claim by the head of ex-President Donald Trump's new social media company that Trump had encouraged Musk's bid to buy Twitter.

"This is false," Musk tweeted in reply to a New York Post article about that claim by Trump Media & Technology Group CEO Devin Nunes.

"I've had no communication, directly or indirectly, with Trump, who has publicly stated that he will be exclusively on Truth Social," wrote Musk, head of Tesla and SpaceX.

Nunes, during a televised appearance Wednesday on Fox Business, said that Trump's social media app, Truth Social, was "all for" Musk's move to buy Twitter and take it private with a $44 billion offer a somewhat eyebrow-raising claim since Twitter is a competitor to Truth Social.

"President Trump, basically before Elon Musk bought it, actually said to go and buy it because you know the goal of our company is really to build a community where people are in a family friendly, safe environment," said Nunes, a former Republican congressman from California, during the appearance.

Twitter banned Trump, who had been an obsessive user of the platform, in January 2021 for what the company said was the "risk of further incitement of violence."

The ban followed the Jan. 6, 2021, Capitol riot by a mob of Trump supporters who disrupted the certification of President Joe Biden's election.

Trump announced plans to launch Truth Social as a competitor to Twitter last fall, and said his social media company would become publicly traded through a deal with the so-called blank-check company Digital World Acquisition.

On April 25, Twitter accepted Musk's offer to buy the company, which is contingent on approval from shareholders and regulators.

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Nunes, during his interview on Fox Business, suggested that Trump's purported urging of Musk to buy Twitter dovetailed with the mission of Truth Social.

"That's why we encouraged Elon Musk to buy it, because someone has to continue to take on these tech tyrants," Nunes said. "Donald Trump wanted to make sure that the American people got their voice back and that the internet was open and that's what we are doing."

"And so people like Elon Musk doing what he's doing, you know we're definitely in favor of it," Nunes said.

In late April, Trump told CNBC's Joe Kernen that he would not return to Twitter even if Musk took over and reversed the ban on him.

"No, I won't be going back on Twitter," said Trump, who had nearly 90 million followers on the platform before the ban.

"I will be on Truth Social within the week. It's on schedule. We have a lot of people signed up," he said.

"I like Elon Musk. I like him a lot. He's an excellent individual. We did a lot for Twitter when I was in the White House. I was disappointed by the way I was treated by Twitter. I won't be going back on Twitter," Trump said.

Statistics show that Trump, who as president had averaged upward of eight tweets per day in the last half of 2017 and the first half of 2018, steadily increased that average in the following years. He ended up with an average of 34 tweets per day in his last half year in office, before being banned.

On Truth Social, Trump as of Friday had posted a so-called Truth or "ReTruthed" another user's post less than 30 times combined over the past two months. Nearly all of those posts had been made in the past week.

Correction: Devin Nunes is CEO of Trump Media & Technology Group. An earlier version misstated the company name.

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Elon Musk denies claim by Truth Social boss that Trump encouraged him to buy Twitter - CNBC

Elon Musk’s Crash Course: everything we know – What To Watch

Producer and director Emma Schwartz is shining a light on the richest man in the world and his company in Elon Musks Crash Course. However, we dont mean Twitter (if you havent heard, the billionaire now owns the social media platform), but instead Tesla, the luxury electric car brand.

Elon Musks Crash Course is the latest documentary in The New York Times Presents film series. Previous projects Framing Britney Spears and Controlling Britney Spears were not only informative but were topics of many conversations on social media. It will be interesting to see if this new documentary will gain such buzz on Twitter given the new owner.

Heres everything we know about Elon Musks Crash Course.

Elon Musks Crash Course premieres on Friday, May 20, at 10 pm ET/PT on both FX and Hulu.

There currently isnt an official word as to when the film will be released in the UK. However, it looks like the BBC has its own Elon Musk project in the works.

For a while now, there have been discussions about just the Autopilot technology's safety in Teslas. At the end of 2021, Tesla reported, "one crash for every 4.31 million miles driven in which drivers were using Autopilot technology." However, as The New York Times alleges in the documentary, over the years, the Autopilot feature has played a role in a number of accidents and deaths that the car company hasnt publicly acknowledged. Furthermore, the film explores whether or not there was an active attempt to cover up the truth.

The New York Times press page for Elon Musks Crash Course describes the premise of the documentary as the following:

"Elon Musk, the worlds richest person, has claimed since 2015 that, for Tesla, technology for self-driving cars is essentially a 'solved problem' and made outlandish claims about Autopilot capabilities. But a New York Times investigation reveals the quixotic nature of Musks pursuit of self-driving technology and the tragic results.

"Drawing on first-hand accounts, the film traces how Autopilot has been a factor in several deaths and dozens of other accidents that Tesla has not publicly acknowledged. It details pressure Elon Musk put on government officials to quash investigations and features inside stories from several former Tesla employees, who speak out against Musk for promoting a self-driving program that they believe was perilous.

"Elon Musk made his name and fortune taking bold risks and betting on the impossible, but the story of his pursuit of self-driving has put Musk on a crash course with both the business realities and technologys limits. Yet, even after years of unfulfilled promises, Elon Musk continues to double down on his Full Self Driving service, once again, with questionable results."

An official trailer for Elon Musks Crash Course has not yet been released. However, as one becomes available, well be sure to provide that video clip.

Serving as producer and director of Elon Musks Crash Course is Emma Schwartz. Schwartz may not be a well-known name for many, but her investigative work on PBS Frontline has been critically-acclaimed. Her documentary short, Brewed in Palestine, won the David L. Wolper Student Documentary Award.

Elon Musks Crash Course is set to premiere simultaneously on both FX and Hulu. With that said, FX is not only a channel on traditional cable/satellite television, but it is also a part of live streaming platforms such as FuboTV, Hulu with Live TV, Sling TV and YouTube TV.

Today's best FuboTV, Hulu + Live TV, Sling TV, YouTube TV, Hulu and Disney+ deals

Those that rather watch the documentary on Hulu can do so with a subscription.

No word yet when the documentary will become available in the UK.

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Elon Musk's Crash Course: everything we know - What To Watch

Elon Musk Says This Is The ‘Most Amazing Thing’ He Knows – Benzinga – Benzinga

Tesla, Inc. TSLA CEO Elon Muskis often seen sharing his thoughts and viewpoints on Twitter Inc. TWTR a platform he has agreed to take private.

Musk on Wednesday said on Twitter that "awareness awakening" is the most amazing thing he knows. He was replying to a question asked by a widely followed Twitter handle, named @gunsnrosesgirl3. As usual, Musk's legion of followers approved of the reply, as is evident from the over 26,000 likes the tweet garnered at press time.

Author's View:Musk may have referred to his attempts at arriving at the right perception of thingsbringing himself or, widely, the global populationup to speed on knowledge relevant to humankind.

From a modest beginning, the Tesla CEO has raised a big business empire for himself even while pursuing the less-trodden path of building a sustainable future for humans. All of his Tesla electric car venture, SpaceX space transportation company, Starlink internet service, and Boring companyhave the stated goals of improving the quality of life for people from different walks of life. Muskis also harboring the vision of inhabiting Mars with humans.

Related Link: Elon Musk Thinks This Energy Source Will Be World's Preferred Choice

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Elon Musk Says This Is The 'Most Amazing Thing' He Knows - Benzinga - Benzinga

Elon Musk | Biography, SpaceX, Tesla, & Facts | Britannica

Top Questions

When was Elon Musk born?

Elon Musk was born on June 28, 1971.

How did Elon Musk become famous?

Elon Musk cofounded the electronic payment firm PayPal and founded the spacecraft company SpaceX. He became chief executive officer of the electric-car maker Tesla.

Where did Elon Musk go to college?

What did Elon Musk accomplish?

Elon Musk founded SpaceX, a company that makes rockets and spacecraft. He became the chief executive officer and a major funder of Tesla, which makes electric cars.

Elon Musk, (born June 28, 1971, Pretoria, South Africa), South African-born American entrepreneur who cofounded the electronic-payment firm PayPal and formed SpaceX, maker of launch vehicles and spacecraft. He was also one of the first significant investors in, as well as chief executive officer of, the electric car manufacturer Tesla.

Musk was born to a South African father and a Canadian mother. He displayed an early talent for computers and entrepreneurship. At age 12 he created a video game and sold it to a computer magazine. In 1988, after obtaining a Canadian passport, Musk left South Africa because he was unwilling to support apartheid through compulsory military service and because he sought the greater economic opportunities available in the United States.

Musk attended Queens University in Kingston, Ontario, and in 1992 he transferred to the University of Pennsylvania, Philadelphia, where he received bachelors degrees in physics and economics in 1997. He enrolled in graduate school in physics at Stanford University in California, but he left after only two days because he felt that the Internet had much more potential to change society than work in physics. In 1995 he founded Zip2, a company that provided maps and business directories to online newspapers. In 1999 Zip2 was bought by the computer manufacturer Compaq for $307 million, and Musk then founded an online financial services company, X.com, which later became PayPal, which specialized in transferring money online. The online auction eBay bought PayPal in 2002 for $1.5 billion.

Witness the successful launch of the SpaceX Dragon capsule, May 25, 2012

Video released by spacecraft maker SpaceX celebrating its Dragon capsule, which on May 25, 2012, became the first commercial spacecraft to dock with the International Space Station.

Musk was long convinced that for life to survive, humanity has to become a multiplanet species. However, he was dissatisfied with the great expense of rocket launchers. In 2002 he founded Space Exploration Technologies (SpaceX) to make more affordable rockets. Its first two rockets were the Falcon 1 (first launched in 2006) and the larger Falcon 9 (first launched in 2010), which were designed to cost much less than competing rockets. A third rocket, the Falcon Heavy (first launched in 2018), was designed to carry 117,000 pounds (53,000 kg) to orbit, nearly twice as much as its largest competitor, the Boeing Companys Delta IV Heavy, for one-third the cost. SpaceX has announced the successor to the Falcon 9 and the Falcon Heavy: the Super HeavyStarship system. The Super Heavy first stage would be capable of lifting 100,000 kg (220,000 pounds) to low Earth orbit. The payload would be the Starship, a spacecraft designed for providing fast transportation between cities on Earth and building bases on the Moon and Mars. SpaceX also developed the Dragon spacecraft, which carries supplies to the International Space Station (ISS). Dragon can carry as many as seven astronauts, and it had a crewed flight carrying astronauts Doug Hurley and Robert Behnken to the ISS in 2020. Musk sought to reduce the expense of spaceflight by developing a fully reusable rocket that could lift off and return to the pad it launched from. Beginning in 2012, SpaceXs Grasshopper rocket made several short flights to test such technology. In addition to being CEO of SpaceX, Musk was also chief designer in building the Falcon rockets, Dragon, and Grasshopper.

Musk had long been interested in the possibilities of electric cars, and in 2004 he became one of the major funders of Tesla Motors (later renamed Tesla), an electric car company founded by entrepreneurs Martin Eberhard and Marc Tarpenning. In 2006 Tesla introduced its first car, the Roadster, which could travel 245 miles (394 km) on a single charge. Unlike most previous electric vehicles, which Musk thought were stodgy and uninteresting, it was a sports car that could go from 0 to 60 miles (97 km) per hour in less than four seconds. In 2010 the companys initial public offering raised about $226 million. Two years later Tesla introduced the Model S sedan, which was acclaimed by automotive critics for its performance and design. The company won further praise for its Model X luxury SUV, which went on the market in 2015. The Model 3, a less-expensive vehicle, went into production in 2017.

Elon Musk, 2010.

Musk expressed reservations about Tesla being publicly traded, and in August 2018 he made a series of tweets about taking the company private, noting that he had secured funding. The following month the U.S. Securities and Exchange Commission (SEC) sued Musk for securities fraud, alleging that the tweets were false and misleading. Shortly thereafter Teslas board rejected the SECs proposed settlement, reportedly because Musk had threatened to resign. However, the news sent Tesla stock plummeting, and a harsher deal was ultimately accepted. Its terms included Musk stepping down as chairman for three years, though he was allowed to continue as CEO.

Dissatisfied with the projected cost ($68 billion) of a high-speed rail system in California, Musk in 2013 proposed an alternate faster system, the Hyperloop, a pneumatic tube in which a pod carrying 28 passengers would travel the 350 miles (560 km) between Los Angeles and San Francisco in 35 minutes at a top speed of 760 miles (1,220 km) per hour, nearly the speed of sound. Musk claimed that the Hyperloop would cost only $6 billion and that, with the pods departing every two minutes on average, the system could accommodate the six million people who travel that route every year. However, he stated that, between running SpaceX and Tesla, he could not devote time to the Hyperloops development.

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Company melts $58,000 Teslas into busts of Elon Musk that look nothing like him – Business Insider

A Russia-based luxury accessory company is selling eight-inch-tall busts of Tesla CEO Elon Musk, which it says are made from the melted-down parts of a Tesla electric car.

The sculptures, though, bear little resemblance to the world's richest man.

The brand, Caviar, usually makes luxury smartphones. In a press release, the company said it made 27 Musk busts as part of a limited-edition set. Each one is worth $2,700, said Caviar, though its website lists the bust at $3,220.

"These new items embody the soul of Elon Musk and, therefore, they will bring their owners the success and creativity of this outstanding individual," wrote company founder Sergey Kitov in the release.

The bust material comes from the metal of a blue Tesla Model 3 (which has a starting price in Russia of around $58,000), Head of Marketing Dmitrey Stoliarov told Insider.

Stoliarov said the sculpture's likeness of Musk was crafted by a 3D artist hired by Caviar. "We didn't download it from the internet," he said.

When asked about the discrepancies between the bust design and Musk's appearance, Stoliarov said: "Our artist did not pursue the goal of creating photographic accuracy. He created an image of the inventor in which all his achievements and inventions are reflected."

As to how many busts have been sold so far, Stoliarov said sales had just started.

The company is also selling iPhone 13 Pro and iPhone 13 Max designs made from Tesla parts, starting at $5,600 a piece, it said. The designs feature a portrait of Musk on the top right corner, with an engraving made from the copper of a Tesla battery.

Only 99 such phones will be available worldwide, Caviar said.

The phone designs and statues are part of its Visionaries collection, which also include (more recognizable) busts of Alibaba founder Jack Ma and the late Apple magnate Steve Jobs, selling at $1,990 and $1,680 respectively. These busts are made of nickel-plated brass.

"We want our customers to look at the desktop bust of Elon Musk or Steve Jobs and their customized iPhone and be inspired by their example every day and build their own future," Stoliarov said.

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Company melts $58,000 Teslas into busts of Elon Musk that look nothing like him - Business Insider

Elon Musk sold another $1 billion in Tesla shares on Tuesday – CNBC

SpaceX founder and Tesla CEO Elon Musk visits the construction site of Tesla's gigafactory in Gruenheide, near Berlin, Germany, May 17, 2021.

Michele Tantussi | Reuters

Tesla CEO Elon Musk sold about $1.05 billion in stock on Tuesday evening, according to financial filings postedthis week. The sales were scheduled in September to exercise options that were set to expire in 2022.

Musk has sold a total of $9.85 billion in Tesla stock this month, including the $6.9 billion he sold the week of Nov. 10 and another $1.9 billion he sold on Nov. 15 and Nov. 16. Some of the shares were sold in part to satisfy tax obligations related to an exercise of stock options.

Musk and his trust still hold more than 169 million shares in the company.

Tesla shares fell 15.4% the week ended Nov. 12, marking the worst week for Tesla stock in 20 months after Musk began selling shares. Shares of Tesla were up about 1% on Wednesday afternoon.

Musk ran an informal Twitter poll on Nov. 6 asking his more than 60 million Twitter followers whether or not he should sell 10% of his Tesla stock. The poll ultimately ended with users telling Musk to sell.

But, Musk had already indicated earlier this year he was likely to sell "a huge block" of his options in the fourth quarter. During anappearance at the Code Conferencein September, he said when his stock options expire at Tesla, his marginal tax rate would be over 50%.

CNBC's Lora Kolodny contributed to this report.

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Correction: Updated to reflect shares of Tesla fell 15.4% for the week ended Nov. 12, not the week ended Nov. 19.

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Elon Musk sold another $1 billion in Tesla shares on Tuesday - CNBC