, which account for the bulk of Musk's wealth, had lost nearly 30% of their value in the last month as of Thursday's close. On Friday, Tesla stock was up nearly 8%.
But it's not clear that Musk would or could simply walk away from the deal. His agreement with Twitter includes a $1 billion break-up fee if he backs out, with few exceptions. The company works to detect and suspend false or spam accounts, and to omit them from its calculations of monetizable active users. But Twitter also acknowledged in its filing that fake or spam accounts still exist on its platform. It added,"our estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk faces a federal probe over late disclosure of his initial Twitter stake | EngadgetThe US Securities and Exchange Commission (SEC) is investigating Elon Musk's belated disclosure of his purchase of more than 5 percent of Twitter's share.. What are these probes everyone keeps talking about. How do they insert them? (it appears)Unnecessary lawfare & borderline harassment; least about rule-based regulatory course o(if) action Democrats way of slowing down the purchase. I bet you the matter won't be solved until after the election. 🤔 How convenient! 🤔
Source: engadget - 🏆 276. / 63 Read more »
Running Twitter may be much harder than Elon Musk thinksOn Tuesday, Elon Musk said he would reverse Twitter’s ban of former President Donald Trump, who was booted in January 2021 for inciting violence at the U.S. Capitol, should he succeed in acquiring the social platform for $44 billion. Which is the right thing to do. FOR ELON MUSK TO HAVE 250 BILLIONS WITH A B CAN GIVE OUT 1 BILLION ON DONORS MONEYS TO BUY OUT REPUBLICANS. GET WHAT HE WANTS DONE.CANT PAY $60 MILLIONS OF HIS SPARE OF TAXES NEEDED FOR MILITARY SOLIDERS,TEACHERS, REPAIRS BRIDGES, PROGRAMS,TRUMP GAVE HIM 0 TAXES.2 RICHEST MAN.? what's the big deal about this?
Source: ksatnews - 🏆 442. / 53 Read more »
The SEC is investigating Elon Musk for late disclosure of Twitter stakeMusk should have publicized his Twitter stake by March 24. But only did so by April 4 and potentially saved $143 million during his buy while breaking SEC rules.
Source: IntEngineering - 🏆 287. / 63 Read more »
Periscope Co-Founder Says He Was 'Asked' To Leave Twitter Amid Elon Musk BuyoutKayvon Beykpour and Bruce Falck are out weeks after Elon Musk announced plans to buy the social media company.
Source: HuffPostWomen - 🏆 27. / 68 Read more »
Twitter Deal ‘Temporarily on Hold,’ Says Elon MuskThe Twitter deal is temporarily on hold, billionaire Elon Musk posted on Friday. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed rep… wait but i thought elon musk officially bought twitter tho or is this deal for something else elonmusk couldn’t get the money because Tesla stock tanked. That’s the face he makes whenever he remembers seeing Amber chewin, not suckin, that P Tang.
Source: Variety - 🏆 108. / 63 Read more »
Elon Musk says Twitter deal on hold pending details on fake accounts; shares plunge 19%Elon Musk announced Friday that the Twitter deal is on hold until he receives more information about how many fake accounts there are on the platform. BREAKING: Elon Musk says Twitter deal temporarily on hold 'pending details' 🤣 😂 🤣 😂 🤣 😂 🤣 Musk needs to focus on building Tesla. How long is the SEC going to allow this from this guy?
Source: CNBC - 🏆 12. / 72 Read more »