Tesla Inc Chief Executive Officer Elon Musk has purchased company’s shares worth $1 billion from the open market. He bought shares on Friday in multiple tranches and at different price points, according to a regulatory filing by the US electric car maker. It was his first purchase of the stock in the open market since … Read more
Larry Ellison briefly overtook Elon Musk as the world’s richest man on Wednesday after a historic rally in Oracle Corp shares added $244 billion to the software giant’s market value. The surge pushed Oracle closer to the $1 trillion mark and fueled speculation over whether it could soon displace Tesla Inc among the world’s 10 … Read more
Shares in Asia were poised to open stronger on Tuesday, buoyed by US-China trade talk expectations as officials struck a positive tone after the first day of negotiations. Equity-index futures showed shares in Tokyo, Hong Kong and Shanghai may trade higher, while Sydney stocks looked flat. US and Chinese officials were set to resume their … Read more
New York CNN — Tesla CEO Elon Musk gave 11.5 million shares of his stake in the electric automaker to an undisclosed charity last year, shares worth about $1.9 billion at the time they were donated. The donation would make him the second largest charitable donor in 2022, according to a ranking of the Chronicle … Read more
Wall Street’s main indexes ended Monday roughly down on fears that China could resume stricter measures to fight COVID-19 after it said it faces its most severe test of the pandemic. Beijing said on Monday it would shut businesses and schools in hard-hit districts and tighten rules for entering the city, as infections ticked higher. … Read more
New York CNN Business — Elon Musk sold $3.95 billion worth of Tesla stock since completing his purchase of Twitter late last month. Musk’s Tesla stock sales, totaling 19.5 million shares, have been widely anticipated ever since the Tesla CEO reached a deal to buy Twitter for $44 billion. Musk had sold blocks of Tesla … Read more
Wall Street’s major indexes jumped over 2% on Tuesday as investors scooped up shares of megacap growth and energy companies after the stock market swooned last week on worries over a global economic downturn. All 11 major S&P 500 sectors gained, as stocks rebounded broadly after the benchmark index last week logged its biggest weekly … Read more
Shares of Twitter Inc drop 22% to $35.20 in pre-market trade after Tesla Inc CEO Elon Musk, who had inked a deal to buy Twitter for $44 billion, said in a tweet “deal temporarily on hold pending details supporting the calculation that spam/fake accounts represent less than 5% of users”. Twitter said in a filing … Read more
U.S. regulators are investigating Elon Musk‘s delayed disclosure of his sizable stake in Twitter Inc last month, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Musk disclosed a 9.2% stake in Twitter to the U.S. Securities and Exchange Commission (SEC) on April 4, a delay of at least 10 days … Read more
JPMorgan Chase & Co has sued Tesla Inc for $162.2 million, accusing Elon Musk‘s electric car company of “flagrantly” breaching a contract the two corporate giants agreed in 2014 relating to warrants Tesla sold to the bank. Warrants give the holder the right to buy a company’s stock at a set “strike” price and date. … Read more