Tag: Musk

Elon Musk calls for ‘comprehensive overhaul’ of US SEC, DOJ

Elon Musk has called for a “comprehensive overhaul” of the U.S. Securities and Exchange Commission (SEC) hours after the agency sued him for allegedly failing to testify in an investigation into his $44-billion acquisition of Twitter, now called X, last October. The SEC is examining whether Musk’s acquisition violated securities regulations. On Oct. 5, the regulator submitted a filing in a California District Court, aiming to force Musk to adhere to a previous SEC subpoena. In an X post the same day, Musk suggested the SEC — along with the…

U.S. Securities and Exchange Commission (SEC) Seeks To Force Elon Musk Testimony in Twitter Takeover Probe

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The U.S. Securities and Exchange Commission (SEC) is looking to force billionaire Elon Musk to testify in its probe of his purchase of the social media platform X, formerly known as Twitter. In a new litigation release, the regulatory agency says that it has filed an application seeking an order that directs the business magnate to comply with a subpoena to testify – which he has so far ignored. According to the SEC, Musk may have violated securities laws by purchasing Twitter in October 2022 for a staggering $44 billion.…

SEC Sues Elon Musk Forcing Him to Testify in Twitter Probe, Musk Responds

Musk blamed the SEC and the Biden Administration for constant scrutiny into his Twitter acquisition while expressing his confusion and frustration in the matter. On Thursday, October 5, the US Securities and Exchange Commission (SEC) sued Elon Musk in order to force him to testify about the acquisition of Twitter last year. In a legal document filed in the Northern District of California, SEC lawyers have accused Elon Musk of non-compliance with a subpoena mandating his appearance for a September 15 testimony. This subpoena had been served to the CEO…

Elon Musk hits at SEC, DOJ amid suit to force testimony in Twitter probe

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Elon Musk has called for a “comprehensive overhaul” of the United States Securities and Exchange Commission hours after the regulator sued Musk alleging he failed to testify in its probe relating to his $44 billion Twitter (now X) purchase last October. The SEC is investigating if Musk’s purchase triggered securities laws and an Oct. 5 filing by the regulator in a California District Court seeks to compel Musk to comply with an earlier SEC subpoena. In an X post the same day Musk suggested the SEC — along with the…

Turkish President Invites Elon Musk to Build Tesla Factory in Turkey

In response to Erdogan’s proposition, Musk conveyed his enthusiasm for the Turkish market. Turkish President Recep Tayyip Erdogan has extended an invitation to Elon Musk, the CEO of Tesla and SpaceX, urging him to consider establishing Tesla’s next factory in Turkey. The enticing offer was made during their meeting in New York, where Erdogan attended the United Nations General Assembly. The meeting between Erdogan and Musk took place at the iconic Turkish House in Manhattan, and it revolved around the prospects of Tesla‘s expansion into Turkey. Erdogan Courts Musk for…

Elon Musk, Mark Zuckerberg and Sam Altman talk AI regs in Washington

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The top executives from some of the world’s largest tech and web companies have concluded a closed-door meeting with U.S. lawmakers in Washington D.C., where they reportedly discussed AI technology and potential approaches to regulation. The Sept.13 Senate ‘AI Insight Forum’ was organized by Senate Majority Leader Chuck Schumer, and attended by 22 tech titans including X (Twitter) owner Elon Musk, Google’s Sundar Pichai, Meta CEO Mark Zuckerberg, Sam Altman from OpenAI and Microsoft founder Bill Gates, according to the New York Times. Musk reportedly warned about existential risks from AI exclaiming “If…

Top Tech Personalities Like Musk, Gates to Meet US Senators for AI Forum

This would be one of the biggest gatherings between US lawmakers and top tech personalities wherein they would be discussing the future of AI. Later today on Wednesday, September 13, more than 20 tech industry leaders are meeting behind closed doors with the US senators to look into how Congress can regulate artificial intelligence (AI). Top tech personalities such as Elon Musk, Mark Zuckerberg and Bill Gates are meeting. Expected attendees at the event include Senators Mike Rounds, Martin Heinrich, and Todd Young, as well as AFL-CIO President Liz Shuler.…

Elon Musk Secured $1B Loan from SpaceX amidst Twitter Acquisition

Regarding SpaceX, Musk holds the title of the largest shareholder, with an impressive 42 percent stake. Elon Musk, the visionary entrepreneur known for pushing the boundaries of space exploration and electric vehicles, has once again captured headlines for his audacious financial moves. A recent report from the Wall Street Journal (WSJ) has revealed that Musk secured a substantial loan of $1 billion from SpaceX, around the same time he was finalizing the acquisition of Twitter Inc, which has since been rebranded as X. Elon Musk’s Financial Maneuvers The loan, approved…

Dogecoin Slide Persists Despite This Elon Musk Bio Revelation

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The upcoming biography of Elon Musk, set to be published on September 12, is shedding light on some previously unknown facets of the billionaire’s involvement in the crypto and especially Dogecoin world. According to a report by the Wall Street Journal, the biography discloses that Musk has been discreetly funding the development of Dogecoin. The tech entrepreneur Musk has been “quietly funding” the development of Dogecoin, the biography unveils, further emphasizing the significant influence Musk has had on the meme coin’s popularity. This revelation comes amidst previous suspicions that Musk’s…