Tag: Elon Musk

  • Elon Musk may takeover Twitter for $46.5 billion within this week

    Elon Musk may takeover Twitter for $46.5 billion within this week

    Twitter is in final talks to sell itself to Elon Musk, and a deal may be finalised within this week, according to insiders familiar with the situation, a startling turn of events just 11 days after the billionaire unveiled his $43 billion bid for the social-media business.

    According to the sources, the two parties negotiated through the night to reach an agreement worth $54.20 per share. There’s still no promise they will get to that.

    Twitter was anticipated to reject Mr. Musk’s bid, which he made on April 14 without specifying how he would pay for it, and to implement a “poison pill” to prevent him from raising his stake. However, after Tesla’s CEO Elon Musk revealed that he has $46.5 billion in financing and the share market plummeted, Twitter reversed its stance and opened the door to discussions.

    Read more: Twitter officially declares adding an edit button

    According to insiders, the recent move would bring the world’s richest man together with the popular social networking platform. The final agreement might be revealed within few days. As of April 25, Twitter shares were up more than 5 per cent in early trade.

  • Elon Musk offers $43 billion to acquire Twitter

    Elon Musk offers $43 billion to acquire Twitter

    Elon Musk has submitted a takeover bid for Twitter, offering $54.20 per share, days after becoming the group’s largest shareholder. This is an offer worth more than $43 billion.

    According to a Securities and Exchange Commission (SEC) filing, Mr. Musk described this as a “best and last offer,” reflecting a 54 per cent premium over the day before he commenced investing in the business in late January 2022.

    Musk stated in the filing that “I don’t have faith in the management” and that he could not make the adjustments he desired in the public market.

    As per a letter written to CEO Salesforce and chairman of Twitter, Bret Taylor, Musk stated that if the proposal is not accepted, he will reassess his status as a shareholder as Twitter has a lot of potential which needs to be unlocked.

    The billionaire CEO of Tesla and SpaceX and the world’s richest man, purchased a 9.2 per cent share in Twitter on April 4, according to a regulatory filing. The tech mogul was invited to join Twitter’s board of directors the next day, but he denied the offer by the end of the week.

    Musk wrote to Mr. Taylor on April 13: “I invested in Twitter because I believe it has the potential to be the global platform for free speech, and I believe free speech is a societal requirement for a healthy democracy”.

    Read more: Elon Musk is no longer joining Twitter board as the microblogging network is “dying”

    “However, after making my investment, I’ve come to recognize that the company, in its current form, can neither thrive nor serve this societal need,” he wrote. “Twitter should be turned into a private firm”.

    Considering the tweeted document, Musk’s financial adviser for the proposal is Morgan Stanley.

  • Elon Musk is no longer joining Twitter board as the microblogging network is “dying”

    Elon Musk is no longer joining Twitter board as the microblogging network is “dying”

    The CEO of Tesla and SpaceX, Elon Musk will not be joining the Twitter board of directors, according to Twitter’s CEO Parag Agrawal. Musk’s appointment on the board was supposed to start on April 9, however, he announced that he would no longer be joining.

    Agrawal posted a statement on April 10, saying Musk’s appointment to the board would be subject to a background investigation and that once nominated, he would have to operate in the company’s best interests. “Elon is our biggest shareholder and we will remain open to his input,” he added.

    What Happened Earlier?

    Earlier, the tech mogul tweeted the list of the top ten most followed personalities, which included celebrities and politicians such as former US President Barack Obama, Rihanna, Taylor Swift, Justin Bieber, and Lady Gaga.

    The world’s wealthiest man had a complaint: many of the top Twitter accounts do not upload anything.

    Former US President Barack Obama (131.4 million followers), singer Justin Bieber (114.3 million), Katy Perry (108.8 million), and other top accounts belonging to popular artists Rihanna and Taylor Swift were among the names on the list from the Twitter account of World of Statistics, which Musk posted.

    Interestingly, Indian Prime Minister Narendra Modi is ranked ninth on the list, with a popularity of 77.1 million followers, one notch below Musk, who has 81 million followers on the social network.

    Whereas Modi is an avid Twitter user who publishes everything from his daily schedule to welcoming foreign leaders, Musk laments that celebrities like Taylor Swift and Justin Bieber rarely post. Taylor hasn’t posted anything in three months, and the ‘yummy’ singer Justin Bieber only tweeted once in 2022.

    Musk, who just purchased a 9.2 per cent interest in Twitter for roughly $3 billion in his controversial style, asked his followers another question: Is Twitter dying? 

    In an ‘April fool’ message, Twitter said that it is testing some new features, one of which is a long-awaited ‘edit’ button. The platform later explained that the change to the edit button was not an April Fool’s prank and that it was truly being tested by the company.

    It is worth noting that Musk also proposed a number of improvements to Twitter’s Blue premium subscription service, including lowering the price, limiting adverts, and allowing users to pay in the crypto. Many internet users were surprised by the recent announcement, as they had been expecting Tesla’s CEO to join the board of microblogging site and witness what changes he would make.

  • Top ten billionaires: Elon Musk tops the list, India’s Mukesh Ambani at number 10

    Top ten billionaires: Elon Musk tops the list, India’s Mukesh Ambani at number 10

    The Forbes’ has published its 36th annual World’s Billionaires List recently, revealing a total of 2,668 billionaires with 236 newcomers. As per the report, “America still leads the world, with 735 billionaires worth a collective $4.7 trillion, including Elon Musk, who tops the World’s Billionaires list for the first time.”

    India’s Mukesh Ambani is listed on number 10 on the list.

    Profile of the richest man Elon Musk:

    • Elon Musk is working to revolutionize transportation both on Earth, through electric car maker Tesla — and in space, via rocket producer SpaceX.
    • He owns 21% of Tesla but has pledged more than half of his stake as collateral for loans. Forbes has discounted his stake to take the loans into account.
    • A regulatory filing in early April 2022 revealed that Musk had purchased 9.2% of Twitter. The company invited him to join its board the next day.
    • SpaceX, Musk’s rocket company, is valued at $74 billion after a funding round in February 2021.
    • He grew up in South Africa, then immigrated to Canada at age 17. He landed in the U.S. as a transfer student to the University of Pennsylvania.
    Top 10 Billionaires:
    1. Elon Musk

    2. Jeff Bezos

    3. Bernard Arnault and family 

    4.Bill Gates 

    5.Warren Buffett

    6.Larry Page 

    7.Sergey Brin

    8.Larry Ellison

    9.Steve Ballmer

    10.Mukesh Ambani

  • Twitter officially declares adding an edit button

    Twitter officially declares adding an edit button

    The legendary “edit button,” which Twitter users have been demanding for so long that it’s become a cliché, is finally becoming a real thing. Twitter has now officially declared that it is working on allowing users to modify tweets after they have been posted on the platform.

    The aim is to enable users to correct any mistakes or errors in a tweet without losing any existing replies, retweets, or favourites. Twitter said Tuesday that it will begin testing the capability with Twitter Blue subscribers in the coming months.

    https://twitter.com/TwitterComms/status/1511456430024364037?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1511457595181068294%7Ctwgr%5E%7Ctwcon%5Es3_&ref_url=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fbusiness-61003270

    In a post on Tuesday, Jay Sullivan, the company’s VP of consumer development, remarked that editing has been “the most requested Twitter feature for many years.” Since last year, the corporation has been studying how to implement the function “safely.”

    In the past, Twitter’s former CEO, Jack Dorsey, was hesitant to implement such a function.

    Back in 2018, Dorsey even expressed concerns during a discussion, that an edit button may allow users to modify the meaning of a tweet after it has been widely shared, and he claimed in 2020 that Twitter would probably never incorporate the option.

  • Tesla’s CEO Elon Musk to join Twitter board after investing $2.9 billion in the platform

    Tesla’s CEO Elon Musk to join Twitter board after investing $2.9 billion in the platform

    Elon Musk, the world’s richest man, has been chosen for Twitter’s board of directors, just one day after it was confirmed that he is the social media platform’s largest shareholder, holding a 9.2 per cent stake.

    On April 5, Twitter’s CEO Parag Agrawal said he was excited to announce Musk’s membership to the company’s board of directors. 

    Tesla’s CEO, whose personal wealth is assessed to be $289 billion, about $100 billion greater than the second richest person on the planet, Amazon founder Jeff Bezos, has a history of publishing controversial tweets.

    Musk was a “passionate believer and intense critic” of the platform, according to Agrawal, and it was exactly what Twitter needed to render it stronger in the long run.

    Surprisingly, Musk has a Twitter following of more than 80 million, and he was already looking forward to collaborating with the company “to make big improvements” to the social media platform in the near future.

    Twitter on Tuesday stated that Musk had agreed to serve as a class two director with a term terminating at the company’s annual meeting of shareholders in 2024.

    Musk bought a nearly $3 billion (£2.3 billion) share in Twitter on Monday, which is more than four times the 2.25 per cent share held by the platform’s co-founder, Jack Dorsey.

    However, Musk would not be able to own more than 14.9 per cent of Twitter’s outstanding shares, either alone or as part of a group, for as long as he was a board member and for 90 days later, according to the firm.

    The CEO of Tesla and SpaceX, who ranks among the Top 10 most popular users on Twitter with 80.4 million followers, paid $2.89 billion for the stake on Friday at Twitter’s closing share price.

    Twitter shares rose another 5 per cent Tuesday morning after soaring more than 27 per cent on Monday after reports of Musk’s stock purchase.

  • After delivering blockbuster ‘Meray Paas Tum Ho’, Adnan Siddiqui wants to quit acting? Fahad Mustafa reacts

    After delivering blockbuster ‘Meray Paas Tum Ho’, Adnan Siddiqui wants to quit acting? Fahad Mustafa reacts

    Actor Adnan Siddiqui took to his social media handle to express that he is considering to leave the field of acting for an entrepreneurial career after being inspired by Elon Musk.

    The Ahista Ahista star asked his fans to suggest him an alternate career path.

    Fellow celebrity Fahad Mustafa reacted to his statement and told him that he is with Adnan in this.

    In November, Adnan took to his twitter handle to share his stance on the Faisalabad incident.

    Four women in Faisalabad were beaten by locals on the accusation of theft in Bawa Chak Market where dozens of people locked the women inside an electric shop.

  • Elon Musk shows interest to start internet services in Pakistan

    Elon Musk shows interest to start internet services in Pakistan

    Officials from the United States-based broadband service provider, Starlink, owned by Elon Musk, has visited Pakistan Telecom Authority (PTA) headquarters in Islamabad on Monday to discuss the launch of a satellite broadband connectivity in Pakistan.

    The delegation, including Director Middle East & Asia, Ryan Goodnight, and Head of Global Site Acquisition, Ben Macwilliam, met with Chairman of PTA, Maj General Amir Azeem Bajwa (R), and Executive Director, Frequency Allocation Board.

    During the meeting, both sides discussed matters related to the provision of satellite broadband connectivity in Pakistan and future plans to connect Pakistan with global networks through Starlink broadband services. PTA Chairman shared Prime Minister Imran Khan’s vision of a digital Pakistan to Starlink representatives. He also emphasised the prospects of the internet services market in a country. He gave full assurance for the support from PTA towards the operational framework of Starlink in Pakistan.

    Prior to this, Elon Musk’s satellite broadband services started their pre-booking in India but only in selected cities due to some regulatory issues. They are hoping to apply for a commercial license by January 31, 2022, to officially launch it by next year all over India.

  • Elon Musk praises Indian talent as Indian takes over Twitter

    Elon Musk praises Indian talent as Indian takes over Twitter

    Billionaire Elon Musk, Chief Executive Officer (CEO) of Tesla Motors, took to Twitter to share his admiration for the Indian talent that contributed to America’s economy as Jack Dorsey (CEO) of Twitter stepped down and announced his successor, Indian Parag Agrawal.

    Last night, Dorsey announced his resignation on Twitter and confirmed that his replacement was Indian-born Parag Agrawal. Dorsey will remain a member of the board until his term expires in May 2022 and assist Parag with the transition.

    A 37-year-old immigrant from India, Agrawal joined Twitter in 2011 as a Software Engineer and was later promoted to Chief Technical Officer (CTO) in 2017. While working as CTO, he worked as in-charge of strategy involving Artificial Intelligence, reports CNBC.

    A colleague of Agrawal, Chklovski, who worked with him from 2012 to 2014 said, “Parag is phenomenal, understands the problems, stays up late to get it done, mentors others — he’s the whole package.”

    Yoel Roth who is Twitter’s head of site integrity, tweeted, “Parag was one of the first engineers I worked with when I started at Twitter (when we were first working on timeline ranking). The rigor he brings to every decision was clear then, and I’m delighted to see it recognized today.”

    https://twitter.com/yoyoel/status/1465360091348041731?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1465360091348041731%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.cnbc.com%2F2021%2F11%2F29%2Ftwitter-ceo-parag-agrawal-key-to-dorseys-plans-to-revamp-social-media.html

    Apart from Twitter, five giant companies Google, Microsoft, Adobe, IBM, Palo Alto Networks have been headed currently by Indian-origin immigrants.