Comparatively, that is over
four times the 2.25% stake held
by Twitter founder Jack Dorsey.
Comparatively, that is over
four times the 2.25% stake held
by Twitter founder Jack Dorsey.
Musk is one of Twitter's top 10
most popular users in the world with
over 80 million followers on the platform.
Musk is one of Twitter's top 10
most popular users in the world with
over 80 million followers on the platform.
We would expect this passive stake
as just the start of broader conversations
with the Twitter board/management that
could ultimately lead to an active stake
and a potential more aggressive
ownership role of Twitter, Dan Ives, Analyst at Wedbush Securities, via 'The Guardian'.
We would expect this passive stake
as just the start of broader conversations
with the Twitter board/management that
could ultimately lead to an active stake
and a potential more aggressive
ownership role of Twitter, Dan Ives, Analyst at Wedbush Securities, via 'The Guardian'.
'The Guardian' reports that after news
of Musk's purchase broke, shares in Twitter
rose as much as 26% in pre-market trading.
.
The jump added over $8 billion
to the $31.5 billion market value
of the microblogging site.
.
According to 'The Guardian,' that almost immediately increased the value of the shares purchased by Musk to approximately $3.6 billion.
.
Musk has amassed a personal fortune of about
$289 billion, almost $100 billion more than the world's
second richest man, Amazon founder Jeff Bezos.
.
Musk has amassed a personal fortune of about
$289 billion, almost $100 billion more than the world's
second richest man, Amazon founder Jeff Bezos.
Australia's prime minister said Elon Musk is an "arrogant billionaire who thinks he is above the law" over his reluctance to remove footage of last week's Church.. Sky News
The beef between NYC restaurateur Keith McNally and Jeff Bezos and his fiancée, Lauren Sanchez, just took an odd turn ... and it involves a dirty rat! McNally.. TMZ.com
Chrissy Teigen's standing up for Jeff Bezos' fiancée Lauren Sanchez -- this after a notorious restaurateur unleashed a barrage of venom toward ... for no real.. TMZ.com
These US Cities, Have the Highest Populations of, Millionaires.
According to a report by Henley & Partners,
the United States remains the top country in the
world for private wealth creation and accumulation.
Quartz reports that the U.S. accounts
for about 32% of global liquid investable
wealth, valued at approximately $67 trillion.
Here are some of the cities
with the largest populations of
millionaires, according to the report.
Austin, This Texas city had the biggest explosion
in millionaire growth in the U.S. over the past
ten years, reaching 32,700 by the end of 2023. .
Miami, This Florida city is home to
35,300 millionaires and 15 billionaires,
including Amazon CEO Jeff Bezos.
Boston, While having just eight billionaires,
the fewest of any other city on the list,
this New England city is home to , 42,900 millionaires.
Seattle, This Washington State city is the home of
some of the largest corporations in the U.S.,
including Amazon and Microsoft. It's also
home to 54,200 millionaires and 11 billionaires. .
Chicago, Approximately 120,500 millionaires
live in this Midwestern metropolis. .
Los Angeles, The second-most populous city in the U.S. has about, 212,100 millionaires and 43 billionaires.
San Francisco, The tech hub of the U.S. boasts the most
billionaires with a whopping 68, as well as
the second-most millionaires with 305,700. .
New York, The city with the most high
net worth individuals has about , 349,500 millionaires
and 60 billionaires
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk's net worth dropped nearly $40 billion this year, now totaling $189 billion, placing him third behind Bernard Arnault and Jeff Bezos. Tesla's declining share price contributed to the decrease. Despite challenges with Twitter's rebranding as X, Musk announced plans for a smart TV app. His proactive approach reflects his ongoing efforts to diversify and expand his ventures.
#ElonMusk #Tesla #elonmusk #elonmuskinterview #elonmusknews #elonmuskanddisney #Twitter #X #Oneindia #Oneindianews
~PR.152~ED.103~GR.122~HT.96~
In a stunning turn of events, Tesla CEO Elon Musk has been dethroned as the world's richest person, with Amazon founder Jeff Bezos reclaiming the top spot. Join us as we delve into this dramatic shift in the billionaire rankings.
#ElonMusk #WorldsRichestPerson #JeffBezos #BloombergReport #BloombaergBillionaireIndex #ElonMuskvsJeffBezos #FinancialNews
~HT.99~PR.274~
Trump’s Social Media Company , Sues Co-Founders.
Trump Media & Technology Group filed a
lawsuit against co-founders Wesley Moss and Andrew Litinsky on March 24, ABC News reports.
The suit came two days before shareholders approved a merger that allowed the
company to begin trading on the Nasdaq.
The lawsuit alleges that the two men
"failed spectacularly" to lead the company and made "reckless and wasteful decisions"
that resulted in "significant damage.".
Trump Media wants the co-founders to give up
their shares of the company, among other things. .
TMTG has been forced to file this action
to remedy the harm inflicted upon it by two
faithless fiduciaries and a company they own --
Wesley Moss, Andrew Litinsky, and
[United Atlantic Ventures] -- and to halt their
ongoing attempts to do even more damage, Via lawsuit.
Moss and Litinsky's company,
United Atlantic Ventures, owns 5.5%
of Trump Media, according to the SEC.
That amounts to 7,525,000 shares
which are worth about $388 million.
Donald Trump's stake in the company
is currently valued at over $4 billion.
Since going public last week,
the stock has been very volatile. .
At one time, shares peaked over $79.
On April 1, they plunged by 21%.
Shares recovered slightly on April 2
Credit: Wibbitz Top Stories Duration: 01:30Published
SEC Permitted to Sue Coinbase , for Offering Unregistered Securities.
U.S. District Judge Katherine Polk Failla
has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase
can proceed, The Verge reports. .
The SEC has sufficiently pleaded
that Coinbase operates as an exchange,
as a broker, and as a clearing agency
under the federal securities laws, , U.S. District Judge Katherine Polk Failla, via ruling.
... and, through its Staking Program,
engages in the unregistered
offer and sale of securities, U.S. District Judge Katherine Polk Failla, via ruling.
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The ‘crypto’ nomenclature may be
of recent vintage, but the challenged
transactions fall comfortably within the
framework that courts have used to identify
securities for nearly eighty years, U.S. District Judge Katherine Polk Failla, via ruling.
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Early motions like ours
against a government agency
are almost always denied. , Paul Grewal, Coinbase chief legal officer, via X.
But clarity is the ultimate
goal and today’s decision
continues us on that path, Paul Grewal, Coinbase chief legal officer, via X.
Looking ahead, we remain confident
in our legal arguments, we look
forward to proving we’re right, , Paul Grewal, Coinbase chief legal officer, via X.
... we are eager for the opportunity to
take discovery from the SEC for the first
time, and we appreciate the Court’s
continued consideration of our case. , Paul Grewal, Coinbase chief legal officer, via X
Credit: Wibbitz Top Stories Duration: 01:31Published
SEC's New , Climate Disclosure Rules , Facing Multiple Lawsuits.
'Newsweek' reports that both industry and
environmental groups have legally challenged the
Securities and Exchange Commission over new rules. .
The new rules require some businesses to disclose
information about climate risks, including direct
greenhouse gas emissions and risks from extreme weather.
The SEC rules, which were approved on March 6 by a 3-2 vote,
also require companies to provide investors with context
on how those companies plan on managing those risks.
Some requirements were pared back prior to the rules
being approved. Those rules include reporting on Scope 3
emissions which relate to the company's supply chain.
In response to the new rules, two fossil fuel producing
companies filed lawsuits accusing the SEC of burdening
companies and exposing them to potential litigation.
19 state attorney generals have also
filed lawsuits claiming that the new rules
exceed the SEC's legal authority.
On the other side, environmental groups the Sierra Club
Foundation and Earthjustice announced their own lawsuits
accusing the SEC of watering down rules to protect investors.
Sierra Club has millions of members
and supporters who have investments
in the market. It's really critical that
we have access to information about
climate risks that may be faced
by the kinds of entities that
we would hope to invest in, Andres Restrepo, Sierra Club Senior Attorney, via Newsweek.
'Newsweek' reports that the SEC rules were
meant to take effect in 2026, however, the
legal challenges are likely to result in delays.
The new rules come as the U.S. Supreme Court
has indicated plans to restrict the regulatory
authority of environmental enforcement agencies.
Credit: Wibbitz Top Stories Duration: 01:31Published
Bitcoin Rallies, on Hopes of Renewed Interest , Among Mainstream Investors.
On March 4, the price of Bitcoin broke $65,000,
bringing it closer to returning to an all-time
high reached in November 2021.
NBC reports that the latest rally has been driven
by hopes that the launch of bitcoin exchange-
traded funds will expand bitcoin's pool of buyers. .
In 2024, the cryptocurrency has
gained over 48%, rapidly approaching its
record intra-day all-time high of over $68,000.
In January, Bitcoin ETFs were first approved by
the Securities and Exchange Commission (SEC). .
The SEC said the approval of the ETFs were meant
to make it easier for investors to gain exposure to
Bitcoin without having to actually own the digital coins.
NBC reports that the world of crypto is also banking
on a potential rally following a technical event
known as "halving" scheduled to occur in April.
This event will see the rate of supply for new bitcoin
to decline, which could cause the value of the
cryptocurrency to increase if demand remains unchanged.
Some mainstream investment experts have
still urged caution when it comes to investing
in the controversial cryptocurrency.
With equities, you own a share
of a company that produces goods
or services, and many also pay
dividends. With bonds, you get
a stream of interest payments, Vanguard statement, via NBC.
Commodities are real assets that meet
consumption needs, have inflation-
hedging properties, and can play
a role in certain portfolios, Vanguard statement, via NBC.
While crypto has been classified
as a commodity, it’s an immature
asset class that has little history,
no inherent economic value,
no cash flow, and can create
havoc within a portfolio, Vanguard statement, via NBC
Credit: Wibbitz Top Stories Duration: 01:32Published
Tesla Sales Drop , More Than Expected.
The automaker has posted its first yearly drop in sales since the onset of the pandemic, CNN reports. .
The company reportedly built
433,000 units but only delivered 387,000.
That's significantly less than the 484,507 vehicles
it delivered in the last three months of 2023.
Tesla shares fell 5% on April 1. .
Tesla partially attributed the sales
drop to increased production of the
updated Model 3 at its factory in Fremont.
The company also cited factory shutdowns caused by ships being diverted from the Red Sea because of attacks by Iran-backed Houthi militants, CNN reports.
The company also cited factory shutdowns caused by ships being diverted from the Red Sea because of attacks by Iran-backed Houthi militants, CNN reports.
Additionally, its factory in Germany shut down for a week because of an arson attack. .
Increased competition from brands such as
China's BYD have also impacted sales, CNN reports. .
Increased competition from brands such as
China's BYD have also impacted sales, CNN reports. .
Wedbush Securities analyst Dan Ives
referred to Tesla demand in China as
"very soft coming out of the gates for 2024.".
While we were anticipating a bad first
quarter, this was an unmitigated
disaster that is hard to explain away, Wedbush Securities analyst Dan Ives, via note to clients.
We view this as a seminal moment
in the Tesla story for Musk to either
turn this around and reverse the
black eye first quarter performance. , Wedbush Securities analyst Dan Ives, via note to clients.
Otherwise, some darker days could
clearly be ahead that could disrupt
the long-term Tesla narrative, Wedbush Securities analyst Dan Ives, via note to clients
Credit: Wibbitz Top Stories Duration: 01:30Published
Former US President Donald Trump marked his return on social media by posting a message on his Truth Social App. He posted a brief message late on Thursday for the first time since the app he..
Musk Plans To , Slash Twitter
Board Salaries,
Monetize Tweets, Sources Say.
Reuters reports that Elon Musk made the assertions
in an effort to secure funding from lenders...
... as part of his $44..
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk Sells $8.5 Billion , Worth of Tesla Shares.
Elon Musk Sells $8.5 Billion , Worth of Tesla Shares.
CNN reports that three days
after Twitter agreed to sell
the company to Musk, he sold
a..
Credit: Wibbitz Top Stories Duration: 01:30Published
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