Elon Musk reportedly formed three holding companies in Delaware, all with variations of the name “X Holdings,” according to a new report from Bloomberg. The establishment of one of the companies is being used to fund Musk’s Twitter purchase, should it occur. The filings don’t explicitly mention it, but they also hint toward the potential that an umbrella company…
The Boring Company (TBC) announced that it raised $675 million in a Series C funding round led by Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. The financing values The Boring Company at $5.675 billion. TBC stated that the funds will be used to…
Elon Musk advised young entrepreneurs to get into the Lithium business. During the Q1 2022 live Q&A webcast, Tesla talked about some of the challenges it is still facing, particularly regarding raw materials and logistics. Musk teased some “exciting announcements” about raw materials later this year. He noted that as Tesla reaches the production level…
Last week, City of Austin employees visited The Boring Company’s (TBC) Las Vegas Convention Center (LVCC) Loop in Sin City. Ten employees from the City of Austin’s Development Services Department (DSD) visited The Boring Company’s LVCC Loop. A DSD spokesperson said they met with Clark County development employees to “understand best practices for permitting subgrade…
Twitter’s Board will adopt the “poison pill” strategy to fend off Tesla CEO Elon Musk’s $43 billion bid to buy the social media platform. A new statement from Twitter released just after noon on Friday in New York said the company plans to adopt “limited duration shareholder rights plan, enabling all shareholders realize full value…
The Boring Company is currently engaging with San Antonio leaders to explore and potentially pursue an underground transportation tunnel system. Similar to the Las Vegas Convention Center Loop, the San Antonio project could utilize a fleet of Teslas. The talks come about a month after The Boring Company was identified by the Alamo Regional Mobility…
Elon Musk revealed the production timeline and estimated price of Tesla’s humanoid robot Optimus when he recently appeared on TED. The Tesla CEO talked with Chris Anderson about Optimus and the humanoid robot’s future in society. OPTIMUS PRODUCTION AND APPLICATIONS “You know, the first units that we [Tesla] tend to make are for jobs that…
Tesla CEO Elon Musk has officially lost his position as Twitter’s largest shareholder after Vanguard Group upped its stake in the social media company. The news comes as Twitter’s Board currently ponders a proposition from Musk, who offered to buy the platform for roughly $43 billion. On April 8, Vanguard disclosed it had upped its…
Tesla CEO Elon Musk detailed the “precarious” situation the electric automaker was in as he contemplated the Securities and Exchange Committee’s consent decree from 2018. Musk said that not agreeing to the SEC’s terms would have ended Tesla’s ability to obtain working capital from financial institutions, killing the company. “It’s like having a gun to…
Tesla CEO Elon Musk said that if Twitter’s board does not accept the terms of his buyout offer, there is a “Plan B.” During Musk’s appearance at TED 2022, the Tesla CEO, who is also Twitter’s largest shareholder, was grilled about his proposal to buy the social media platform at $54.20 per share on Thursday morning. While Musk…