Tag: Tesla

  • FBI investigates deadly Tesla truck explosion

    FBI investigates deadly Tesla truck explosion

    U.S. security authorities are investigating whether the explosion of a Tesla Cybertruck outside the Trump International Hotel in Las Vegas might have been a terrorist attack.

    FBI lead agent Jeremy Schwartz said this on Wednesday at a news conference. The explosion killed the Cybertruck’s driver and slightly injured seven, the Las Vegas police said. Schwartz did not provide details about the person killed in the explosion.

    Las Vegas Metropolitan Police Department (LVMPD) Sheriff Kevin McMahill told reporters at a separate news conference that authorities do know the name of the person who rented the truck and he acknowledged that a name is floating around social media, but would not comment further.

    He said it is important that next of kin be notified and that “we have a 100 per cent identification.” He did say that the truck was rented in Colorado and arrived in Las Vegas around 7:30 am (1550 GMT) on Wednesday and drove up and down Las Vegas Boulevard before then driving to the hotel.

    The vehicle stopped directly in front of the glass entrance doors of the luxurious building on Wednesday morning and exploded about 20 seconds after stopping, McMahill said. His office has not yet determined what triggered the explosion, as the vehicle has not yet been processed.

    He showed surveillance footage showing smoke emanating from the vehicle, which culminated in a powerful detonation. Later, additional drone footage captured the aftermath. The images revealed the charred remnants of several petrol canisters and fireworks. The electric vehicle was completely destroyed by the fire.

    The vehicle involved in the Trump hotel incident had been rented through the same rental website used by the New Orleans attacker, who drove a pick-up truck into a crowd celebrating on New Year’s morning, killing 15 people, McMahill said.

    A potential connection to the explosion in Las Vegas, which occurred only a few hours later, is being examined, the sheriff said.

    “We are not ruling anything out.” There are currently no indications of a connection to the Islamic State (IS) terrorist organization, as had been suggested in New Orleans.

    “There was no overt ISIS flag as was seen in New Orleans,” McMahill said, but stressed that the investigation is looking at all angles.

    McMahill said there is no further threat to the community and his office believes any danger to the public from this attack is over.

  • Musk sells Tesla shares as net worth drops below $200 billion

    Musk sells Tesla shares as net worth drops below $200 billion

    Following the purchase of Twitter for $44 billion, Elon Musk, CEO of Tesla Inc, has reportedly sold Tesla shares worth $4 billion.

    The Verge, reports that Musk has offloaded almost $20 billion from Tesla to mainly finance the Twitter deal which was worth $44 billion.

    In April and August, Elon Musk has sold a combined $15.4 billion worth of Tesla shares, with $8.4 billion in April and around $6.9 billion in August. However, after these sales, he said that there were no more sales planned.

    With regards to these sales, Musk also tweeted, “No further TSLA sales planned after today.”

    His takeover of Twitter has also invited drastic measures like the sacking of almost 50 per cent of Twitter’s workforce, a verification fee.

    According to a Reuters report, Musk’s net worth also dropped below $200 billion on Tuesday as investors dumped Tesla’s shares on fears of the Chief Twit being more preoccupied with Twitter. The report reads, “Now Wall Street fears that Musk has stretched himself too thin at a time when the EV maker is ramping up production and faces rising competition.”

    Musk now has a net worth of $197.4 billion, according to Forbes, with a big share of that coming from his nearly 15 percent stake in Tesla, which has a market value of $622billion.

  • Elon Musk officially owns Twitter, fires top Twitter execs including CEO

    Elon Musk officially owns Twitter, fires top Twitter execs including CEO

    After months of legal drama, Tesla CEO, Elon Musk, on Thursday night, closed his $44 billion acquisition of Twitter, as he fires top Twitter execs including CEO.

    Musk, the richest person in the world, according to Forbes, ousted a handful of top executives, CEO Parag Agrawal included, in the process.

    Musk reportedly fired CFO Ned Segal, Head of Legal, Policy, and Trust Vijaya Gadde and General Counsel Sean Edgett right out of the gate. Though it’s still an aggressive and abrupt day-one move, Agrawal was inevitable given his well-documented clashes and a failed virtual meeting with Musk. It’s also no surprise that Gadde was among the first to go.

    TheNewsGuru.com (TNG) reports that the road to taking Twitter private has been a rocky one. Musk first began flirting with the idea of owning Twitter in early April, when he bought 9.2% of the company for $3 billion.

    Twitter sued Musk over the summer to force the Tesla and SpaceX CEO to follow through with the deal. Musk countersued Twitter in response, making unfounded claims that the company mislead him about the number of automated accounts on the platform — a number that is critical for advertisers and brands who want human eyeballs on their paid ads.

    As litigation between Musk and Twitter ramped up, Delaware Chancery Court Judge Kathaleen McCormick made it clear that she wasn’t here to humor Musk’s erratic shenanigans. In early October when Musk announced, again, that he would buy Twitter if he could kill the upcoming trial, Judge McCormick only agreed if Musk could close the deal by Friday, October 28. If he had missed the deadline, we’d all be looking at a fresh Musk/Twitter trial date set for November.

    On this, the first day that Elon Musk officially owns Twitter, it’s also not clear what direction Musk plans to take the platform. The chaotic and often contradictory billionaire has in the past promised to restore former President Trump’s account, rid the platform of all automated bots, which personally bother him as one of the most followed users on the platform (good luck), and touted Twitter’s potential as a neutral ground square and a counterbalance to his complaints about traditional media outlets, which at times do not report on his goings-on favorably.

    In reality, Twitter is a struggling yet incredibly prominent platform, one where heads of state and hardcore porn regularly intermix and one that, after a long phase of stagnation, had finally begun to introduce improvements to its products and policies.

    It remains to be seen if Musk will turn back the clock on those experiments or see some through while claiming to reinvent the wheel (monetizing creators, certainly an original idea!), but it’s difficult to imagine how he can accomplish any of his goals while potentially gutting the company’s workforce.

    Musk’s denial of reports that he plans to cut 75% of Twitter’s staff is far from reassuring considering that laying off a third or half of employees would still cost thousands of workers their jobs.

  • Elon Musk proposes to buy Twitter at original price

    Elon Musk proposes to buy Twitter at original price

    Tesla CEO Elon Musk has proposed to proceed with a deal to buy Twitter at the original price of 44 billion U.S. dollars, according to a financial filing.

    The offer came ahead of a trial scheduled at the Delaware Chancery Court on Oct. 17, in which Twitter
    is set to seek an order directing Musk to close the deal for 44 billion dollars.

    In a letter sent to Twitter, Musk offered to continue the deal if the court can adjourn the trial and all other related proceedings.

    In a statement, Twitter said it received the letter and intends to close the transaction at the original share price offered by Musk’s team.

    In April, Musk announced the 44 billion-dollar acquisition of Twitter.

    Later in May, he said the deal was temporarily on hold as he asked for details on the number of the social platform’s spam and fake accounts.

    Musk terminated the deal in July, blaming the company for withholding information on its number of spam and fake accounts.

    Musk’s lawyer claimed that Twitter failed to comply with its obligations in the merger agreement and was “in material breach of multiple provisions” of the agreement signed in April.

  • Musk reveals new reason to exit Twitter deal

    Musk reveals new reason to exit Twitter deal

    Tesla CEO, Elon Musk, has revealed a new reason why he exit Twitter deal, as both parties in a legal suit on Tuesday threw more accusations at each other.

     

    This development was seen in the latest round of legal filings over Musk’s efforts to rescind his offer to buy the social media platform.

     

    Musk filed more paperwork in his bid to terminate the deal, this time based on information in a whistleblower complaint filed by Twitter’s former head of security.

     

    Twitter fired back by saying Musk’s attempt to back out is “invalid and wrongful.”

     

    In a filing with the Securities and Exchange Commission, Musk said his legal team notified Twitter of “additional bases” for ending the deal on top of the ones given in the original termination notice issued in July.

     

    Twitter has sued Musk, asking the Delaware Chancery Court to force him to go through with the $44 billion deal. A high-stakes trial is set to start the week of Oct. 17.

     

    In a letter to Twitter Inc., which was included in the filing, Musk’s advisors cited the whistleblower report by former executive Peiter Zatko — also known by his hacker handle “Mudge.”

     

    Zatko, who served as Twitter’s head of security until he was fired early this year, alleged in his complaint to U.S. officials that the company misled regulators about its poor cybersecurity defenses and its negligence in attempting to root out fake accounts that spread disinformation.

     

    The Musk letter, addressed to Twitter’s Chief Legal Officer Vijaya Gadde, said Zatko’s allegations provide extra reasons to end the deal if the July termination notice “is determined to be invalid for any reason.”

    Musk reveals new reason he exit Twitter deal
    Elon Musk

     

    Billionaire Musk has spent months alleging that the company he agreed to acquire undercounted its fake and spam accounts, which means he doesn’t have to go through with the deal.

     

    In a separate SEC filing, Twitter responded to what it called Musk’s latest “purported termination,” saying it’s “based solely on statements made by a third party that, as Twitter has previously stated, are riddled with inconsistencies and inaccuracies and lack important context.”

     

    Zatko received a subpoena Saturday from Musk’s team compelling him to testify in what Zatko’s lawyers emphasized would be an “involuntary” deposition ahead of the coming courtroom battle between Twitter and Musk.

     

    “He did not make his whistleblower disclosures to the appropriate governmental bodies to benefit Musk or to harm Twitter, but rather to protect the American public and Twitter shareholders,” Zatko’s lawyers wrote in a prepared statement.

     

    Twitter is likely to amend its lawsuit to include Zatko’s allegations, so the court can decide on both the bot and cybersecurity issues. That could delay the trial because Musk will say he needs more time to prepare, said Brian Quinn, a law professor at Boston College.

    Musk reveals new reason he exit Twitter deal

     

    The court will have to decide whether the bot or cybersecurity issues are a “material adverse effect” that will harm Twitter’s business for years — a difficult legal bar to clear, Quinn said.

     

    The bot issue, which Twitter disclosed in filings with the SEC, seems to be an issue that Twitter would win on, Quinn said. Cybersecurity problems raised by Zatko may not be such an easy victory, he said.

     

    “This is more grist for the mill,” Quinn said. “It’s not as obvious for the most part that this is a winner for Twitter. But once you start to analyze these closely, it’s still an uphill battle for Musk.”

  • Elon Musk trades $7B in Tesla shares ahead of Twitter battle

    Elon Musk trades $7B in Tesla shares ahead of Twitter battle

    Elon Musk has traded nearly $7 billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter.

     

    Musk disclosed in series of regulatory filings that he unloaded about 8 million shares of his company Tesla Inc. in recent days.

     

    “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 tweeted late Tuesday.

     

    Musk is by far the largest individual shareholder in both Tesla and Twitter.

     

    Shares of Tesla rose almost 2% before the opening bell Wednesday. Shares of Twitter Inc., up 16% in the past month with most believing Musk faces long-shot odds of success in court, jumped another 3%.

     

    Musk countersued Twitter last week, accusing the company of fraud over his aborted $44 billion acquisition. He claimed that Twitter held back critical information and misled his team about the size of its user base.

     

    Musk alleges that Twitter committed fraud, breach of contract and violation of a securities law in Texas, where Musk lives.

     

    TheNewsGuru.com reports that Musk offered to buy Twitter earlier this year, then tried to back out of the deal claiming the social platform was infested with a larger numbers of “spam bots” and fake accounts than Twitter had disclosed.

     

    Musk said in the spring that he planned no major sales of his stake in Tesla after lining up financing to acquire Twitter, but Dan Ives, an industry analysts with Wedbush, said Wednesday that “the situation has dramatically changed.”

     

    Wedbush raised it’s target price for shares of Twitter, “With the chances of a Twitter deal now more likely in our opinion and the Street seeing through this poker move by Musk,” Ives wrote to clients.

     

    “We can also see Musk trying to resolve this powder keg situation before the Twitter deal officially heads to court in October,” Ives wrote. “At a minimum, we see Twitter getting a massive settlement from Musk in the $5 billion to $10 billion range that is starting to be factored into the stock.”

  • World richest man, Elon Musk reveals why he’s okay with going to hell

    World richest man, Elon Musk reveals why he’s okay with going to hell

    World richest man, Elon Musk, has given reason why he is okay with going to hell.

     

    Musk, who is the chief executive officer of Tesla and SpaceX, gave the reason on his official Twitter page on Monday, 9th May, 2022 while responding to a Tweep.

     

    TheNewsGuru.com (TNG) reports that the billionaire had made a disturbing post about his possible demise which had caused quite a stir online.

     

    A Twitter user had appealed to him to profess his belief in the supreme creator of the universe before his heart beats it’s last.

     

    Replying to this, Musk appreciated the Tweep’s kind words but stated that he’d be fine with going to the hell, if that’s where his destination is.

     

    TheNewsGuru.com (TNG) reports that the world’s richest man shared a suicide note that set social media abuzz.

    Elon Musk

     

    “If I die under mysterious circumstances, it’s been nice knowin ya,” Elon had tweeted in the early hours of Monday.

     

    Reports say Elon’s tweet comes after the former Russian Deputy PM, Dmitry Rogozin, sent a false information about him to the Russian media.

     

    It was also reportedly said that the billionaire tech guru was accused of supporting fascism in Ukraine by supplying military communication equipment to the war-torn country through his company, Starlink, amid ongoing war.

     

    Meanwhile, Musk’s tweet about his death has continued to cause tension and uncertainty online.

     

    His mother, Maye Musk, also took to Twitter to react to the tweet, noting that it wasn’t funny.

     

    Musk replied: “Sorry I will try my best to stay alive.”

  • Why I chose Elon Musk for Twitter – Jack Dorsey

    Why I chose Elon Musk for Twitter – Jack Dorsey

    Former Chief Executive Officer (CEO) and co-founder of Twitter, Jack Dorsey has hailed Elon Musk’s acquisition of the platform and opened up on his decision on Musk.

    Reacting to the $44 billion deal, Dorsey tweeted, “In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.

    “Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also #paraga’s goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path…I believe it with all my heart.

    “I’m so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!”

  • Elon Musk becomes Twitter largest shareholder

    Elon Musk becomes Twitter largest shareholder

    The world’s richest man, Elon Musk has acquired a 9.2 per cent stake in Twitter, making him its largest shareholder.

    Tesla CEO, Musk owns 73,486,938 shares of Twitter, which represents a 9.2 per cent stake in the company, according to the US Securities and Exchange Commission (SEC)13G filing released on Monday.

    The stake is worth $2.89 billion, based on Twitter’s closing price Friday.

    The announcement raised Twitter’s shares by more than 25 per cent in Monday’s premarket trading.

    This development comes less than two weeks after Musk questioned Twitter’s adherence to free speech principles.

    Musk had in March tweeted that he was giving “serious thought” about creating a new social media platform.

    “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?”

    “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?

    “Is a new platform needed?” he tweeted.

    Musk is the richest person in the world, with a net worth of $273 billion, according to the Bloomberg Billionaire Index.

  • Tesla Model 3 collides trailer, occupant dies on the spot

    Tesla Model 3 collides trailer, occupant dies on the spot

    A Tesla Model 3 on Friday collided with a semi-trailer in Florida resulting in the death of its 50-year-old owner.

    TheNewsGuru (TNG) reports the Tesla Model 3 is a compact executive car luxury all-electric four-door sedan manufactured and sold by Tesla, Inc.

    Report by the Palm Beach County Sheriff’s Department did not indicate if Autopilot was engaged at the time of the crash.

    The report said the Tesla struck a tractor trailer and the roof was sheared off as it passed underneath the trailer and came to a rest three-tenths of a mile south of the collision.

    The driver was pronounced dead at the scene.

    Meanwhile, the National Highway Traffic Safety Administration (NHTSA) and the National Transportation Safety Board (NTSB) said they are sending teams to investigate the fatal crash.

    A spokesman for the US Transportation Department that oversees NHTSA said late on Friday that “NHTSA’s Crash Investigation Division assigned a Special Crash Investigation team to investigate the crash”, while the NTSB said it is sending a team of three “to conduct a safety investigation”.

    Tesla declined to comment on Friday.