Elon Musk sells Tesla shares worth $4bn

The world’s richest person Elon Musk has sold 19.5 million of his shares in Tesla in a transaction worth $3.95bn, according to filings published by the US Securities and Exchange Commission on Tuesday.

Tesla CEO has sold nearly $20bn worth of his stock in the electric car company. Musk now holds around 135 million Tesla shares.

The latest move came after Musk purchased Twitter for $44bn. Reportedly, Musk has sold nearly $20bn-worth of his stock in Tesla since he initially invested in Twitter in April.

Earlier in August, Musk reportedly said that he sold Tesla stock. Tesla also reported $3.3bn in profit and $21.45bn in revenue for the third quarter – falling short of Wall Street expectations. According to The Guardian, Tesla’s value has dropped about 46% this year.

Reportedly, a consortium of banks loaned $13bn to Musk to finance the deal. He purchased Twitter for $44bn last week. He also received support in the form of $7bn from investors.

After purchasing Twitter, Musk fired the CEO and several top executives. He also laid off up to half of the company’s workforce. He also announced various changes to the micro-blogging site.

Musk had initially planned to charge $20 a month to users for applying a blue tick. However, the charge has been dropped to $8 a month.

The social media giant also banned a few verified accounts with millions of followers, including the account of US-based comedian Kathy Griffin. Musk also said that Twitter would ban accounts that impersonate others.

As per reports, Twitter will issue the new blue verification sign to users who pay $7.99 a month starting from November 9.

Musk sought to buy the social media platform in April this year. However, he wanted to leave the deal in May. In the Elon Musk vs Twitter buyout battle, Musk finally agreed to buy the platform.

Comments

Israeli settlers have once again attacked religious minorities in the region, this time targeting a church in East Jerusalem.

According to reports, the settlers assaulted clerics and worshippers at the Church of the Sepulchre of Saint Charbel, causing damage to the property and injuring several people. This kind of behavior is not only unacceptable but also undermines efforts to promote peace and stability in the region. Attacks on religious minorities are a direct attack on religious freedom and must be condemned by all. The Israeli authorities must take swift action to bring the perpetrators to justice and hold them accountable for their actions. It is also important to ensure the safety and protection of religious minorities and their places of worship, as guaranteed by international law. this incident is a sad reminder of the ongoing conflict in the region and the need for a comprehensive and just solution. It is up to all of us to work together to promote understanding, tolerance, and respect for different beliefs and cultures, and to build a brighter and more peaceful future for all.

Fights break out as Kurds protest the French government's denial of a terrorist attack

Following the murder of three Kurds in what is being considered to be a probable racist incident , there have been widespread protests in Paris. The fact that the authorities did not view the attack at a Kurdish centre as a terrorist act has enraged the Kurdish diaspora in Paris. A 69-year-old man opened fire on a crowd of individuals early on Friday morning at the Ahmet-Kaya centre on Rue d'Enghien in the 10th arrondissement. One of the three victims is badly injured. All of the dead were Kurdish community members who passed away both inside and outside the cultural centre. Agit Polat, a spokesman for the Kurdish centre, charged that French officials "yet again failed to safeguard us... This is a terrorist attack in our eyes, according to the AFP news agency. In the afternoon, a number of protestors, largely from the Kurdish diaspora, got into a fight with the police outside the centre and in the streets close by, throwing rocks and torching trash cans. Police use...

Verbal spat between Joe Biden and Benjamin Netanyahu over Israel judicial overhaul

The Prime Minister of Israel, Benjamin Netanyahu, turned down United States President Joe Biden’s suggestion that the Israeli government “walks away” from a plan to overhaul the country’s legal system. A verbal spat between the two close allies took place on Wednesday. The US President and Israeli Prime Minister exchanged a few words on judicial changes in Israel. On Tuesday, reporters asked Joe Biden about Israel’s judicial overhaul planned reforms. Biden reportedly said, “I hope he (Netanyahu) walks away from it.” He said that the Israeli government “cannot continue down this road” and urged compromise on this plan to overhaul the country’s legal system. Subsequently, the Israeli PM said that his country makes its own decisions. He reportedly said in a statement, “Israel is a sovereign country which makes its decisions by the will of its people and not based on pressures from abroad, including from the best of friends.” Netanyahu’s latest comments came a day after he de...

Newsaholic

Search This Blog