Elon Musk
Crypto Biz: Elon Musk: The ultimate crypto tourist
Elon Musk’s Tesla proved to be the ultimate paper hands after the electric vehicle maker sold 75% of its Bitcoin (BTC) holdings in the second quarter. I say, good riddance. The cult of personality isn’t good for Bitcoin, and neither is a technologist who treats the asset as his plaything. As far as we are aware, Musk hasn’t sold any of his personal Bitcoin stash and Tesla still has an estimated 10,800 BTC on its books. Still, the less we have to hear about Musk and Bitcoin, the better. In this week’s Crypto Biz, we chronicle Tesla’s sale of BTC, KuCoin’s fight against fake news and Cathie Wood’s sale of Coinbase stock. Tesla reports $64M profit from Bitcoin sale Tesla’s decision to sell most of its Bitcoin wasn’t as boneheaded as it appeared at first. The company scored a $64 million...
Tesla reports $64M profit from Bitcoin sale
Tesla’s decision to offload most of its Bitcoin (BTC) treasuries netted the company a hefty profit in the second quarter, even as crypto prices plunged into a bear market. In the first six months of 2022, Tesla recorded $170 million of impairment losses “resulting from changes to the carrying value” of its Bitcoin holdings, according to an official Form 10-Q filing with the United States Securities and Exchange Commission, or SEC. After selling 75% of its BTC stash for dollars in the second quarter, the company netted a realized gain of $64 million. In finance, an impairment loss occurs when the fair value of an asset held by a company falls below the carrying value of the investment. If you sell 75% of your bitcoin, you will only have 25% of your #bitcoin left. — Michael Saylor⚡&#x...
Planet Yuck: Elon Musk’s Father Confirms 2nd Child With Stepdaughter
HipHopWired Featured Video Source: GIANLUIGI GUERCIA / Getty The estranged father of billionaire Elon Musk shares one thing in common with him, evidenced by his confirmation of having a second secret child with his own stepdaughter. Errol Musk confirmed the shocking revelation to British tabloid The Sun on Wednesday (July 13th). The 76-year-old welcomed a baby girl with Jana Bezuidenhout in 2019, he said. “She wasn’t planned. But I mean, we were living together,” he said to the paper. “She [Jana] stayed here for about 18 months after Rushi was born.” Rushi is the nickname for the couple’s first child, Elliot Rush, who was born in 2017. Errol seemed unabashed about the revelation, saying: “The only thing we are on Earth for is to reproduce. If I could have another child I would. I can’t see...
Elon Musk’s Father Errol Had a Secret Child with His Own Stepdaughter
In 2019 Errol Musk, the 76-year-old father of Elon Musk, quietly had a child, a baby girl, with his own stepdaughter Jana Bezuidenhout. It was their second child together, following the birth of Elliot Rush — called Rushi — in 2018. Their daughter had remained a secret until this week, when Musk gave a new interview to The Sun. “She wasn’t planned,” he said. “But I mean, we were living together. [Jana] stayed here for about 18 months after Rushi was born.” Musk is 41 years older than Bezuidenhout. He was married to her mother Heide for 18 years, and had raised Jana since she was four years old. When news of her first pregnancy broke in 2018, it reportedly caused a bitter rift between Errol and son Elon, who was furious at his father for impregnating his stepsister. Adv...
Aht Aht Aht: Twitter Slaps Elon Musk With Lawsuit After He Bails On $44 Billion Acquisition
HipHopWired Featured Video Source: Dimitrios Kambouris / Getty Elon Musk bailing on the $44 billion Twitter acquisition saga has taken an interesting turn. Twitter Is Taking Elon Musk To Court After hinting that he would pull out of the deal to acquire Twitter, Elon Musk did it, sticking to his excuse that Twitter made “false and misleading” statements during negotiations. Now, Twitter is saying that aht aht aht and slapped Mr. Musk with a lawsuit in Deleware that states he must honor the deal as is. Per The New York Times: Related Stories To push Mr. Musk to abide by the acquisition agreement, Twitter sued him in Chancery Court in Delaware. The court will determine whether he remains on the hook for the purchase or whether Twitter violated its obligation to provide Mr. Musk with data...
Dogecoin misses bullish target after Elon Musk snubs Twitter — what’s next for DOGE price?
Dogecoin (DOGE) has missed a much-anticipated technical upside target and is down nearly 10% over the past week amid an ongoing spat between Elon Musk and Twitter. Musk hurts DOGE price To recap: Musk, whose companies Tesla, SpaceX, and Vegas Loop accept DOGE payments, had suggested introducing the same checkout option on Twitter this April. Bitcoin spoofs a breakout while Dogecoin jumps on Elon Musk’s Twitter takeover news. https://t.co/dlMH5u5jaf — Cointelegraph (@Cointelegraph) April 25, 2022 Nonetheless, the Musk-Twitter deal has turned sour after the billionaire attempted to walk away from his $44 billion takeover bid. In response, the platform has sued Musk, alleging that his heart changed after suffering personal losses in the ongoing global market carnage. Some Dogecoin trade...
Elon Musk Fathered Twins With Top Neuralink Executive In 2021: Report
Elon Musk quietly welcomed twins with Shivon Zilis, one of his top executives, in November 2021, Business Insider reports. According to the outlet, who claim to have reviewed court documents, Musk and Zilis filed a petition to change the twins’ names in order to “have their father’s last name and contain their mother’s last name as part of their middle name.” The appeal was reportedly approved by an Austin, Texas judge in May 2022, per Insider, who withheld the kids’ names to protect their privacy. The twins were allegedly born weeks before the Tesla CEO fathered his second child with Grimes, his now-ex. Following the proliferation of Insider‘s report, Musk, who occasionally produces electronic music and has long ch...
Twitter Sues Elon Musk to Force Him to Complete $44B Acquisition
Twitter sued Tesla CEO Elon Musk on Tuesday, trying to force him to complete his $44 billion takeover of the social media company by accusing him of “outlandish” and “bad faith” actions that have caused the platform irreparable harm and “wreaked havoc” on its stock price. Back in April, Musk pledged to pay $54.20 a share for Twitter, which agreed to those terms after reversing its initial opposition to the deal. But the two sides have been bracing for a legal fight since the billionaire said Friday that he was backing away from his agreement to buy the company. Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.” “Having mounted a public spectacle...
Phony Stark aka Elon Musk Officially Attempts to Bail On Twitter Bid
HipHopWired Featured Video Source: The Washington Post / Getty Elon Musk has officially declared that he is backing out of his agreement to purchase Twitter, citing that the social company made “false and misleading” statements during negotiations. On Friday(July 8th), the billionaire and his team filed a motion with the Securities and Exchange Commission stating that they were terminating the agreement with the social media platform. They claim that Twitter was in “material breach” of the previous agreement where Musk would buy the company for $44 billion. “For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,’” his legal team wrote in the filing. “Twitter has ...
Twitter Looks to Sue After Elon Musk Pulls Out of Deal
Twitter, one of the world’s largest social networking companies, has reportedly hired the law firm Wachtell, Lipton, Rosen & Katz to sue billionaire Elon Musk after he pulled out of the $44-billion acquisition deal on Friday. The CEO of Tesla said that the company failed to provide information about fake accounts on the platform. In response, the company said it would sue to complete the deal. In response, Musk posted a meme on Twitter in which he details the events involving the deal in a lighthearted manner and what is likely to happen. pic.twitter.com/JcLMee61wj — Elon Musk (@elonmusk) July 11, 2022 According to Reuters, Wachtell, Lipton, Rosen & Katz was one of the legal advisers for Musk’s plan to take Tesla private in 2018. The Chairman of the Twitter Board ...
Twitter Looks to Sue After Elon Musk Pulls Out of Deal
Twitter, one of the world’s largest social networking companies, has reportedly hired the law firm Wachtell, Lipton, Rosen & Katz to sue billionaire Elon Musk after he pulled out of the $44-billion acquisition deal on Friday. The CEO of Tesla said that the company failed to provide information about fake accounts on the platform. In response, the company said it would sue to complete the deal. In response, Musk posted a meme on Twitter in which he details the events involving the deal in a lighthearted manner and what is likely to happen. pic.twitter.com/JcLMee61wj — Elon Musk (@elonmusk) July 11, 2022 According to Reuters, Wachtell, Lipton, Rosen & Katz was one of the legal advisers for Musk’s plan to take Tesla private in 2018. The Chairman of the Twitter Board ...
Twitter Looks to Sue After Elon Musk Pulls Out of Deal
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