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    Black Market for Fraudulent Ad Accounts Found on Facebook

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    Twitter, Facebook, Lyft layoffs spark fears of dotcom crash 2.0

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    Meta lays off 11,000 workers as it faces competition from TikTok

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    Enhance your omnichannel service strategies with data-driven insights.

    Black Market for Fraudulent Ad Accounts Found on Facebook

    Sen. Mark Warner and Sen. Marco Rubio at a hearing.

    Trump’s TikTok ban might have been right after all

    14 Gift Ideas for the Home Chef (2022): Vitamix, Cookbooks, and More

    14 Gift Ideas for the Home Chef (2022): Vitamix, Cookbooks, and More

    6 Android Apps for Budget Management

    Twitter, Facebook, Lyft layoffs spark fears of dotcom crash 2.0

    Facebook layoffs are a reminder that your job won’t love you back

    Facebook layoffs are a reminder that your job won’t love you back

    Facebook Reels app on a smartphone on a yellow background

    How to Hide Reels on Facebook

    6 Android Apps for Budget Management

    Meta lays off 11,000 workers as it faces competition from TikTok

    reduce a PDF’s file size

    How to reduce a PDF’s file size for Mac and Windows

    7 Best Tools To Boost UX Designer's Work In 2022

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    US midterm results latest: Republicans win 218 seats to take House as Kevin McCarthy wins initial GOP speaker vote

    US midterm results latest: Republicans win 218 seats to take House as Kevin McCarthy wins initial GOP speaker vote

    Google Pixel Watch

    Your Pixel Watch is Getting Better at Sleep Tracking

    Analyst: iPhone 14 Plus Sales Lagged Behind iPhone 13 Mini, Strategy 'Failed'

    Apple’s Emergency SOS Service for iPhone 14 Goes Live in US and Canada

    Pixel 7 Pro hazel top down view with display on

    Survey shows few people have had major issues with the Pixel 7 series

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    Xbox rolls out official support for Discord, Lightstream, and Streamlabs

    Samsung brings Xbox Cloud Gaming and GeForce Now to 2021 sets

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    Virtual Gaming Revolution Continuing To Develop

    Virtual Gaming Revolution Continuing To Develop

    How to Set Custom Shortcuts for Xbox Game Bar in Windows

    How to Set Custom Shortcuts for Xbox Game Bar in Windows

    Asus' ROG Flow Z13 is a Surface for gaming

    Asus’ ROG Flow Z13 is a Surface for gaming

    Atari's 50th anniversary celebration gives players a hands-on lesson in video gaming history

    Atari’s 50th anniversary celebration gives players a hands-on lesson in video gaming history

  • Crypto
    Enhance your omnichannel service strategies with data-driven insights.

    Black Market for Fraudulent Ad Accounts Found on Facebook

    Sen. Mark Warner and Sen. Marco Rubio at a hearing.

    Trump’s TikTok ban might have been right after all

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    Twitter, Facebook, Lyft layoffs spark fears of dotcom crash 2.0

    Facebook layoffs are a reminder that your job won’t love you back

    Facebook layoffs are a reminder that your job won’t love you back

    Facebook Reels app on a smartphone on a yellow background

    How to Hide Reels on Facebook

    6 Android Apps for Budget Management

    Meta lays off 11,000 workers as it faces competition from TikTok

    reduce a PDF’s file size

    How to reduce a PDF’s file size for Mac and Windows

    7 Best Tools To Boost UX Designer's Work In 2022

    7 Best Tools To Boost UX Designer’s Work In 2022

  • Business
    Enhance your omnichannel service strategies with data-driven insights.

    Black Market for Fraudulent Ad Accounts Found on Facebook

    Sen. Mark Warner and Sen. Marco Rubio at a hearing.

    Trump’s TikTok ban might have been right after all

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    14 Gift Ideas for the Home Chef (2022): Vitamix, Cookbooks, and More

    6 Android Apps for Budget Management

    Twitter, Facebook, Lyft layoffs spark fears of dotcom crash 2.0

    Facebook layoffs are a reminder that your job won’t love you back

    Facebook layoffs are a reminder that your job won’t love you back

    Facebook Reels app on a smartphone on a yellow background

    How to Hide Reels on Facebook

    6 Android Apps for Budget Management

    Meta lays off 11,000 workers as it faces competition from TikTok

    reduce a PDF’s file size

    How to reduce a PDF’s file size for Mac and Windows

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Elon Musk Sells $7B in Tesla Stock Amid Twitter Takeover Dispute

by Staff Writer
August 10, 2022
in Business
Reading Time: 2 mins read
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Tesla CEO Elon Musk has recently sold 7.92 million shares of the carmaker worth about $6.9 billion, according to regulatory filings made public Tuesday.

The stock sale, which occurred between Aug. 5 and 9, comes amid a legal battle between Musk and Twitter, which the billionaire entrepreneur offered to buy for $44 billion earlier this year but has since informed Twitter he was ending the agreement. Musk admitted that possible financial burden played a role in his decision to sell the stock.

“In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” Musk said in a tweet Tuesday evening. He also wrote that he was done selling Tesla stock and would become a buyer again if the Tesla deal doesn’t close.

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Yes.

In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.

— Elon Musk (@elonmusk) August 10, 2022

Musk has said that Twitter “hoodwinked” him into signing a $44 billion deal to purchase the social media platform and is trying to back out of the deal. Twitter responded in July with a lawsuit against Musk to enforce the merger agreement and alleged that the billionaire is trying to get out of acquiring the company because his personal wealth has fallen and the purchase has thus become more expensive.

Musk denied Twitter’s claims and alleges that Twitter failed to provide him information to verify that fewer than 5% of Twitter’s more than 220 million daily users were spam-focused or fake, an important metric for understanding Twitter’s ads business. The billionaire claims Twitter misrepresented or omitted information that would shed light on the company’s value. 

Twitter and Musk are expected to head to trial on Oct. 17 if they don’t reach a settlement. Twitter’s shareholders are scheduled to vote on the deal in a special meeting on Sept. 13.

Musk sold about $8.5 billion worth of Tesla shares in April in the wake of announcing his deal to buy Twitter. Tesla shares were trading at $1,145 when he announced his bid for Twitter. The share price has since fallen more than 25%.



Source by www.cnet.com

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