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

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    Black Market for Fraudulent Ad Accounts Found on Facebook

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    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

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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

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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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    Pixel Watch in the test

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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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    • CES 2017
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    Discord on Xbox is dropping its reliance on your phone

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

    Samsung brings Xbox Cloud Gaming and GeForce Now to 2021 sets

    Samsung brings Xbox Cloud Gaming and GeForce Now to 2021 sets

    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

    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

    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

    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

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Elon Musk sells Tesla shares worth $6.9 billion to help fund potential forced Twitter deal

by Staff Writer
August 10, 2022
in Business
Reading Time: 2 mins read
Elon Musk sells Tesla shares worth $6.9 billion to help fund potential forced Twitter deal
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What just happened? Just how sure is Elon Musk that he’ll win the legal battle against Twitter? Given that he sold 7.92 million Tesla shares worth $6.9 billion to help fund any forced deal, the world’s richest man might not feel as confident as he lets on.

Although Musk sits on top of the list of the world’s richest people with a personal fortune of around $250 billion, much of his wealth is in the form of Tesla shares. Multiple SEC filings show he sold about 7.92 million of these shares between August 5 and August 9, worth around $6.9 billion.

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Musk said at the end of April that he didn’t plan to sell any more of his Tesla shares after he unloaded $8.4 billion worth that same month, money that was supposed to be used to help finance the Twitter acquisition.

Earlier today, Tesla investor Sawyer Merritt tweeted the SEC forms showing Musk had sold millions more shares and asked the CEO if he was done selling.

“Yes,” replied Musk. “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.” He said in another tweet that he would buy Tesla stock again if the Twitter deal does not complete.

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 previously secured $7 billion from Larry Ellison, Binance, the Qatar state investment fund, Morgan Stanley, and several others to help fund the $44 billion Twitter takeover. He walked away from the deal in early July over his long-running claim that the company lies about the number of fake accounts on the platform. It says there are less than 5%; Musk claims it’s more like 20%.

Twitter and Musk will be heading for a five-day trial on October 17 after the judge granted Twitter’s request to expedite proceedings. It wants to force Musk to complete the deal at the original $54.20 per share price—it’s currently $42.83—or pay a hefty breakup fee. Musk recently said he would be willing to buy Twitter at that price if it showed precisely how it counts the number of fake accounts on the platform. He also challenged CEO Parag Agrawal to “a public debate” on the issue, which the Twitter boss appears to have ignored.



Source by www.techspot.com

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