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Musk Tells Tweet Fraud Jury He Has No Trouble Raising Money

25Jan

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Technology

Musk Tells Tweet Fraud Jury He Has No Trouble Raising Money

[ad_1] Elon Musk told a jury he was confident he could have pulled off his proposal 4 1/2 years ago to take Tesla Inc. private, saying he never has trouble raising money for his companies. Elon Musk told a jury he was confident he could have pulled off his proposal 4 1/2 years ago to take Tesla Inc. private, saying he never has trouble raising money for his companies. The chief executive officer, in his third day on the witness stand, was defending the legitimacy of his assertion in an August 2018 tweet that he had “funding secured” for the take-private transaction. “Every financing round I've had has been oversubscribed,” he testified Tuesday in San Francisco federal court in response to friendly questions from his own lawyer. “It's not a problem for me to raise money. I've done...

Tech billionaires see wealth shrink amid 2022 stock crunch

[ad_1] The fortunes of Silicon Valley billionaires took a beating in 2022 as share prices of the world's tech giants plummeted. The fortunes of Silicon Valley billionaires took a beating in 2022 as share prices of the world's tech giants plummeted.Here are some of the worst hit by this year's tech stock downturn. - Elon Musk - After becoming the world's richest person in 2021, the TESLA and SpaceX boss saw over half of his net worth evaporate this year, boosting France's luxury goods mogul Bernard Arnault into the top spot. Musk lost $140 billion in 2022 due to the collapse of Tesla's share price, leaving his total net worth at $130 billion, according to Bloomberg's index of the world's richest people. Once the darling of Wall Street investors, the future of the electric car company i...

Elon Musk Tesla Share Sale: Billionaire Sells $3.95 bn Stock After Buying Twitter

[ad_1] Tesla CEO Elon Musk sold at least $3.95 bn of the electric-vehicle maker’s shares just days after closing his buyout of Twitter Inc. Tesla Inc. Chief Executive Officer Elon Musk sold at least $3.95 billion of the electric-vehicle maker's shares just days after closing his buyout of Twitter Inc.Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. The documents didn't indicate that the transactions were pre-planned. The world's richest person followed through with his takeover of the social-media platform in October, after spending months trying to get out of it. In August, Musk had said he was done offloading Tesla stock and that it was important to avoid an “emergency sale” of the shares in case he was forc...