Twitter elon musk Deal

19Dec

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Technology

Elon Musk on his way out of Twitter!

[ad_1] Within a few minutes of Musk's cryptic tweet, asking users if he should step down as head of the social media platform, the 'yes' votes started edging ahead. Judging by the outcome of the poll that Twitter CEO Elon Musk asked for on the microblogging site, he is on his way out of Twitter. Within a few minutes of Musk's cryptic tweet, asking users if he should step down as head of the social media platform and also promising to abide by the result, the 'yes' votes started edging ahead. In reaction, Musk said, "As the saying goes, be careful what you wish, as you might get it." Twitter CEO Elon Musk started a poll on the microblogging site, asking users if he should step down as head of the social media platform and also promising to abide by the result. Taking to Twitter,...

Irony of it all! Elon Musk Ties Tesla’s Fortunes to the Ad Business It has Long Eschewed

9Nov

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Technology

Irony of it all! Elon Musk Ties Tesla’s Fortunes to the Ad Business It has Long Eschewed

[ad_1] If Twitter is unable to win back advertisers, Tesla’s CEO may have to keep selling shares. Elon Musk is fond of saying that fate loves irony. This go-to phrase now seems awfully prophetic. The Technoking of Tesla has long eschewed advertising, arguing the electric-car company is better off spending on product. Besides, who needs a multimillion-dollar Super Bowl spot when you can blast your cherry-red Tesla Roadster into space to the soundtrack of David Bowie's “Life on Mars”? In addition to staging stunts like that 2018 maiden voyage of SpaceX's Falcon Heavy rocket, Musk is a master at generating viral publicity for himself and Tesla using Twitter. Sure, his posts often can be counter-productive — he's joked about the company going bankrupt, falsely claimed to have secured...

Elon Musk launches crackdown against some Twitter handles

7Nov

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Technology

Elon Musk launches crackdown against some Twitter handles

[ad_1] Elon Musk said that any Twitter handles that are found engaged in 'impersonation' without clearly specifying "parody" will be suspended. Elon Musk on Sunday said through a series of tweets that any Twitter handles found engaged in 'impersonation' without clearly specifying "parody" will be suspended permanently. "Going forward, any Twitter handles engaging in impersonation without clearly specifying "parody" will be permanently suspended," Musk tweeted. Twitter's new CEO further said that unlike before, no warning will be given now as widespread verification is being rolled out. "Previously, we issued a warning before the suspension, but now that we are rolling out widespread verification, there will be no warning. This will be clearly identified as a condition for signi...

Anatomy of the week the Elon Musk tornado hit Twitter

7Nov

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Technology

Anatomy of the week the Elon Musk tornado hit Twitter

[ad_1] The whirlwind week that Elon Musk took over Twitter began with sleepless nights for company engineers -- and ended with half the staff getting the axe. The whirlwind week that Elon Musk took over Twitter began with sleepless nights for company engineers -- and ended with half the staff getting the axe. "It was a strange week," said one former employee speaking on condition of anonymity. "Executives were getting fired or were resigning, but there was basically no official communication until 5 pm Thursday," some seven days after the deal was made official. The employees received a first email Thursday informing them that they would know their fate the next day. On Friday, the second email confirmed the rumors: 50 percent of the staff lost their jobs. The cull hit the mar...

Einhorn Says Twitter Is The Biggest Long Bet He’s Made This Year

12Oct

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Technology

Einhorn Says Twitter Is The Biggest Long Bet He’s Made This Year

[ad_1] David Einhorn said Elon Musk will go through with Twitter deal. David Einhorn, the founder of Greenlight Capital who was among hedge fund managers wagering on Twitter Inc., said he believes that Elon Musk will go through with his deal to buy the social media company this year. “It's pretty much the only sizable long investment we've made the entire year because we've been very cautious with the bear market,” he said Tuesday in a Bloomberg Television interview on Tuesday. “Investing in something like Twitter, which I think will resolve this year, is good because I should get the cash out to redeploy into the next thing.” Einhorn said earlier this year that the laws tied to mergers and acquisitions are clear, and that the Delaware Chancery Court would uphold a deal. Though M...

Elon Musk Sued by Twitter Investor Over ‘Fraudulent’ Buyout Flip-Flop

11Oct

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Technology

Elon Musk Sued by Twitter Investor Over ‘Fraudulent’ Buyout Flip-Flop

[ad_1] Elon Musk was sued by a Twitter investor who says the world’s richest person’s on-again off-again purchase of the platform were designed to manipulate its stock price. Elon Musk was sued by a Twitter Inc. investor who says the world's richest person's on-again off-again purchase of the social-media platform and his public attacks on the company were designed to manipulate its stock price. Giuseppe Pampena says that when Musk agreed last week to go ahead with his purchase of Twitter, at the originally agreed upon price, he “essentially acknowledged that he had been bluffing all along” about backing out of the deal. The flip-flops and Musk's accusations about Twitter sunk its stock price, hurting investors while all the while improving Musk's bargaining position, according t...

‘Plot Twist!’: Elon Musk’s Deal for Twitter Lurches Toward a Close

9Oct

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Technology

‘Plot Twist!’: Elon Musk’s Deal for Twitter Lurches Toward a Close

[ad_1] The billionaire and his bankers have until Oct. 28 to complete transaction he fought to abandon Elon Musk is running out of ways to evade his original $44 billion contract to buy Twitter Inc. The world's richest man, who was in a rush to acquire the social network in April and then abruptly soured on the deal, spent months trying to exit the obligation entirely. In recent weeks, both sides discussed a price that was about $4 below the $54.20 per-share accord, but couldn't agree on additional terms, according to people familiar with the matter. On Oct. 3, Musk applied public pressure by formally re-offering to buy the company at the original price, aiming to avoid an Oct. 17 fight in Delaware Chancery Court. Twitter's stock shot up, with investors sensing the drama was near...

Twitter LBO Offers Latest Headache for Depleted Credit Markets

9Oct

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Technology

Twitter LBO Offers Latest Headache for Depleted Credit Markets

[ad_1] Elon Musk’s revived deal for Twitter Inc. is only adding to the strain. It's already bleak for Wall Street banks that struggled to sell risky debt to fund leveraged buyouts. Elon Musk's revived deal for Twitter Inc. is only adding to the strain.Banks have already been saddled with losses of about $600 million for the buyout of Citrix Systems Inc. and are still stuck with $6.5 billion of debt they couldn't sell. They also had to shelve a $3.9 billion deal for Brightspeed after investors balked at the offer -- and are expected to soon fund the buyout of Nielsen Holdings, and possibly even Tenneco Inc. With that in mind, and with little else in the way of imminent deals, Twitter is likely to remain center stage for credit markets in the coming week. Bond Deals Get Pulled During Cr...

Musk Asks Delaware Judge to Halt Lawsuit Over $44 Billion Twitter Deal

7Oct

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Technology

Musk Asks Delaware Judge to Halt Lawsuit Over $44 Billion Twitter Deal

[ad_1] A judge halted the court case against Elon Musk over his $44 billion purchase of Twitter. A judge halted the court case against Elon Musk over his $44 billion purchase of Twitter Inc., giving the parties until 5 p.m. on Oct. 28 to complete the deal.Delaware Chancery Judge Kathaleen St. J. McCormick said if the transaction isn't done by that time, she will set trial dates in November, according to an order issued Thursday. The ruling is a win for Musk, who asked the judge to pause Twitter's lawsuit against him, saying the social media company “will not take yes for an answer” after he revived his bid to buy it. The billionaire earlier this week proposed consummating the $54.20-per-share deal provided the court “enter an immediate stay of the action” and “adjourn the trial and al...