Tesla recalls 26,000 cars over software error while it braces for harassment lawsuit February 9, 2022 Tesla can’t seem to catch a break these days, as it was forced to recall more than 26,000 cars over a software error, while bracing for a potential racism and harassment lawsuit. According to the US agency in charge of automotive safety standards, software errors could cause a valve in the heat pump to open [...]
Musk faces fresh lawsuit as 2018 tweet comes back to bite him February 7, 2022 Elon Musk faces fresh legal challenge from the US stock market watchdog as his Twitter thread continues to cause problems for the electric car giant Tesla. In 2018, Musk tweeted that he had “funding secured” to take Tesla private, sending its share price soaring. It prompted subsequently prompted a Securities and Exchange Commission (SEC) lawsuit and [...]
Tesla shareholders call on judge to make Musk repay $13bn for SolarCity deal January 18, 2022 Tesla shareholders have called on a judge to make Tesla’s chief executive Elon Musk repay $13bn for the 2016 acquisition of solar panel company SolarCity. The claimants argued that Musk, SolarCity’s 22 per cent shareholder, strong-armed Tesla’s board to buy the cash-stripped company founded by his cousins Peter and Lyndon Rive, Reuters reported. As a [...]
Musk urges there is room for ‘billions’ of satellites in Earth’s orbit, following SpaceX backlash December 30, 2021 Elon Musk has urged that there is room for “tens of billions” of satellites in Earth’s orbit, amid concerns that SpaceX is hoarding space for its own. The European Space Agency suggested that Musk was blocking out smaller rivals in space. It is not the first time the billionaire has drawn criticism from the agency, [...]
Elon Musk not planning to sell any more shares as Tesla founder hits out at California’s high tax regime December 22, 2021 Tesla’s boss and serial entrepreneur Elon Musk is not planning to sell any more of his Tesla shares, following yesterday’s offloading of 583,611 stock. “I sold enough stock to get to around 10 per cent plus the option exercise stuff and I tried to be extremely literal here,” he said in an interview with satirical [...]
Musk close to 10 per cent target after offloading 934,000 shares December 17, 2021 Tesla’s chief executive and serial entrepreneur Elon Musk has sold almost $14bn worth of shares, getting closer to selling 10 per cent of his total Tesla holdings. According to SEC filings, the chief executive yesterday offloaded 934,091 stocks for $884.1m. Musk’s latest selling round was made to pay for taxes on the exercise of stock [...]
Elon Musk named Time’s 2021 ‘Person of the Year’ December 13, 2021 Tesla boss Elon Musk has been named Time magazine's 2021 "Person of the Year" this afternoon.
Musk offloads another $1.05bn crossing the halfway mark November 24, 2021 Tesla’s chief executive Elon Musk has sold another 934,091 shares for $1.05bn, crossing the halfway point in his plan to offload 10 per cent of his stake in the company US securities filings from late last night showed that Musk carried out the sale after exercising options to buy 2.15 million shares. Since 6 November [...]
Tesla shares go up following Musk’s latest offloading November 17, 2021 Tesla shares have gone up to $1,063.51 at market opening time after Elon Musk sold a further $973m worth of stocks to pay taxes. According to SEC filings, Musk bought 2.1 million shares worth $2.2bn at yesterday’s closing price of $1,054.73, offloading around 934,000 of his holdings on the same day. Since abiding by a [...]
Tesla’s market value tumbles below $1tn after Musk’s offloading November 15, 2021 Tesla’s market value has fallen below $1tn for the second time in four sessions, after investors reacted to chief executive Elon Musk’s offloading $6.9bn worth of shares. Following a $187bn loss in market value over the last week, the company dropped below $995.75, losing its $1tn status. Tesla’s shares bottomed to $983.25 this morning – [...]