Musk recently purchased thousands of acres of land outside Austin, Texas, and wants to use it to construct an entire town where his employees could work and live. The project is described as a “Texas utopia along the Colorado River.”

There are currently discussions to incorporate the town into Bastrop County, a move that would allow Musk to “set some regulations in his own municipality” and fastrack the entire project. He also plans to offer rentals well below market value, with three-bedroom homes expected to be priced at $800 per month. For comparison, similar rentals in the area cost $2,200 in monthly rent.

WSJ reports that the town would be adjacent to the facilities of Musk’s Boring Company and SpaceX, which are currently under construction. There are already some activities on the site, with modular homes, a recreational area, a pool, and a gym already in place.

The stage to which Musk’s plan to build a town has progressed is currently unclear. Bastrop County’s spokesperson told WSJ that they hadn’t received any application for incorporation from Musk. It is important to note that the town would need to have more than 200 residents to be eligible to incorporate under Texas law.

The post Elon Musk Plans to Build a “Town” in Texas for His Employees appeared first on theprimarymarket.com.

In the letter, Musk told employees, “Don’t be too bothered by stock market craziness.” He doubled down on his belief that Tesla will become the world’s most valuable company in a few years’ time.

The “stock market craziness” that Musk is referring to is the significant decline in share price that Tesla has experienced over the course of 2022. With the company’s stock down nearly 70% for the year, many employees are expressing concern due to being paid with stock-based compensation. Musk remains adamant that this decline is largely due to rising rates being set by the Federal Reserve in response to inflation.

Since announcing his bid to acquire Twitter in April, Musk has unloaded $40 billion of stock in Tesla. With demand also flailing, Tesla found itself having to slash prices in the United States and China in an effort to boost sales.

The post Musk Tells Employees Not to Worry About “Stock Market Craziness” appeared first on theprimarymarket.com.

Upon closing on Monday morning 57.5% of the 17.5 million voters expressed their desire for Musk to step down from his leadership role at the social media company.

“From the botched verification subscription plan to banning journalists to political firestorms caused on a daily basis, it’s been the perfect storm as advertisers have run for the hills and left Twitter squarely in the red ink potentially on track to lose roughly $4 billion per year we estimate,” Wedbush Managing Director Dan Ives said of Musk’s time in charge.

As a result of Twitter’s rocky performance since his takeover, Musk has repeatedly sold off Tesla stock in an attempt to pour more finances into Twitter. In Ives’ opinion, it is impractical for Musk to be CEO of both companies. Furthermore, Ives suggested that Musk would be better suited to continue in his role as Tesla boss, where he has enjoyed a proven track record of success.

The post Tesla Stock Surges After Musk’s “Step Down” Twitter Poll appeared first on theprimarymarket.com.

Ross Gerber, president, and CEO at Gerber Kawasaki Wealth & Investment Management confirmed that a Musk representative reached out to him with an offer of more Twitter shares at the same price of $54.20 that Musk paid when he took the company public in October. Both Twitter and Musk have not yet responded to Reuters’ questions on the matter.

Following Musk’s new approach to regulating tweets and the company’s struggle to hit revenues and pay interest on the $13 billion debt that Musk took to acquire the company, advertisers have responded negatively, with many pulling out of Twitter.

In an effort to put money back into the company, Musk sold $3.6 billion worth of shares in Tesla earlier in the week. Last week, Tesla posted its biggest weekly loss since March 2020 as investors worry over Musks’ distraction with Twitter and the slowing electric vehicle economy.

The post Elon Musk Seeks New Funding for Twitter appeared first on theprimarymarket.com.

Investors in the electric vehicle manufacturer expressed their dissatisfaction at Musk’s increased focus on Twitter since buying the social media platform. They believe that this has distracted Musk from his duties as Tesla’s leader.

“Elon abandoned Tesla and Tesla has no working CEO,” commented KoGuan Leo, the third-largest individual shareholder of Tesla. “Are we merely Elon’s foolish bag holders? An executioner, Tim Cook-like is needed, not Elon.”

Throughout the year, Tesla has been losing ground as a leading tech stock, with the growth of GM, Ford, Apple, and Amazon all outpacing the electric vehicle pioneer. Gary Black, a Tesla bull, admitted that he believes that Musk’s Twitter involvement and expression of his political views are hampering consumers’ faith in his brand, thereby affecting demand.

Goldman Sachs decided on Tuesday to cut its price target for Tesla shares while also lowering its estimates for Tesla’s gross margins in the fourth quarter of 2022.

The post Tesla Stock Falls as Investors Criticize Musk’s Twitter Focus appeared first on theprimarymarket.com.

Musk sent a letter to Twitter stating his intent to complete the takeover for the originally agreed price of $54.20 per share. This immediately sent the Twitter stock surging from $42.60 close on Monday to $52.02 at one point on Tuesday.

Twitter later confirmed the new development in an official statement sent out by the company’s spokesperson. Musk himself also made it official on his Twitter account, tweeting that “Buying Twitter is an accelerant to creating X, the everything app.”

There are no specific details about the “X” app Musk mentions. However, reports indicate that the app should combine messaging features, social media, payment options, and more. The closest comparison to it is China’s WeChat.

Elon Musk made an offer of $44 billion for Twitter earlier this year, with his bid accepted by the company’s shareholders. However, Musk later tried to nix the deal, claiming that the platform had a bigger number of fake and spam accounts than the company was willing to reveal.

Twitter decided to handle the matter in court, filing a lawsuit to force Musk to complete the deal. The

the trial was set to begin in less than two weeks.

The post Elon Musk Changes His Mind, Makes an Offer to Buy Twitter Again appeared first on theprimarymarket.com.

Meanwhile, it’s been nearly three months and this has yet to take place.

Now, there are been all kinds of telltale signs that point to exactly the thing that Musk was talking about. Erosion of wage gains due to a harsh stock market and supremely high inflation has certainly taken a toll on folks, and everyone’s noticing.

And yet, these bankruptcies that Musk predicted have yet to emerge, at least to the extent that Musk was indicating.

This is a testament to just how fickle and complex the world’s economy is. There are definitely issues at play and people are more than right to keep their minds alert in this time. But at the same time, people are still finding ways to thrive without lamenting the end of the world.

There are always many levels to any major industry, and the finance world is no different. Musk’s warning may yet come to pass, but if it does it may still take a while.

Meanwhile, analysts can take solace in the fact that there have only been a mere 212 bankruptcy filings from the start of 2022 until July 31st—a startlingly low number when you consider the country’s population as well as all of these recession predictions.

The post Elon Musk’s Warning Yet to Come to Fruition appeared first on theprimarymarket.com.

Musk recently purchased thousands of acres of land outside Austin, Texas, and wants to use it to construct an entire town where his employees could work and live. The project is described as a “Texas utopia along the Colorado River.”

There are currently discussions to incorporate the town into Bastrop County, a move that would allow Musk to “set some regulations in his own municipality” and fastrack the entire project. He also plans to offer rentals well below market value, with three-bedroom homes expected to be priced at $800 per month. For comparison, similar rentals in the area cost $2,200 in monthly rent.

WSJ reports that the town would be adjacent to the facilities of Musk’s Boring Company and SpaceX, which are currently under construction. There are already some activities on the site, with modular homes, a recreational area, a pool, and a gym already in place.

The stage to which Musk’s plan to build a town has progressed is currently unclear. Bastrop County’s spokesperson told WSJ that they hadn’t received any application for incorporation from Musk. It is important to note that the town would need to have more than 200 residents to be eligible to incorporate under Texas law.

The post Elon Musk Plans to Build a “Town” in Texas for His Employees appeared first on theprimarymarket.com.

In the letter, Musk told employees, “Don’t be too bothered by stock market craziness.” He doubled down on his belief that Tesla will become the world’s most valuable company in a few years’ time.

The “stock market craziness” that Musk is referring to is the significant decline in share price that Tesla has experienced over the course of 2022. With the company’s stock down nearly 70% for the year, many employees are expressing concern due to being paid with stock-based compensation. Musk remains adamant that this decline is largely due to rising rates being set by the Federal Reserve in response to inflation.

Since announcing his bid to acquire Twitter in April, Musk has unloaded $40 billion of stock in Tesla. With demand also flailing, Tesla found itself having to slash prices in the United States and China in an effort to boost sales.

The post Musk Tells Employees Not to Worry About “Stock Market Craziness” appeared first on theprimarymarket.com.

Upon closing on Monday morning 57.5% of the 17.5 million voters expressed their desire for Musk to step down from his leadership role at the social media company.

“From the botched verification subscription plan to banning journalists to political firestorms caused on a daily basis, it’s been the perfect storm as advertisers have run for the hills and left Twitter squarely in the red ink potentially on track to lose roughly $4 billion per year we estimate,” Wedbush Managing Director Dan Ives said of Musk’s time in charge.

As a result of Twitter’s rocky performance since his takeover, Musk has repeatedly sold off Tesla stock in an attempt to pour more finances into Twitter. In Ives’ opinion, it is impractical for Musk to be CEO of both companies. Furthermore, Ives suggested that Musk would be better suited to continue in his role as Tesla boss, where he has enjoyed a proven track record of success.

The post Tesla Stock Surges After Musk’s “Step Down” Twitter Poll appeared first on theprimarymarket.com.

Ross Gerber, president, and CEO at Gerber Kawasaki Wealth & Investment Management confirmed that a Musk representative reached out to him with an offer of more Twitter shares at the same price of $54.20 that Musk paid when he took the company public in October. Both Twitter and Musk have not yet responded to Reuters’ questions on the matter.

Following Musk’s new approach to regulating tweets and the company’s struggle to hit revenues and pay interest on the $13 billion debt that Musk took to acquire the company, advertisers have responded negatively, with many pulling out of Twitter.

In an effort to put money back into the company, Musk sold $3.6 billion worth of shares in Tesla earlier in the week. Last week, Tesla posted its biggest weekly loss since March 2020 as investors worry over Musks’ distraction with Twitter and the slowing electric vehicle economy.

The post Elon Musk Seeks New Funding for Twitter appeared first on theprimarymarket.com.

Investors in the electric vehicle manufacturer expressed their dissatisfaction at Musk’s increased focus on Twitter since buying the social media platform. They believe that this has distracted Musk from his duties as Tesla’s leader.

“Elon abandoned Tesla and Tesla has no working CEO,” commented KoGuan Leo, the third-largest individual shareholder of Tesla. “Are we merely Elon’s foolish bag holders? An executioner, Tim Cook-like is needed, not Elon.”

Throughout the year, Tesla has been losing ground as a leading tech stock, with the growth of GM, Ford, Apple, and Amazon all outpacing the electric vehicle pioneer. Gary Black, a Tesla bull, admitted that he believes that Musk’s Twitter involvement and expression of his political views are hampering consumers’ faith in his brand, thereby affecting demand.

Goldman Sachs decided on Tuesday to cut its price target for Tesla shares while also lowering its estimates for Tesla’s gross margins in the fourth quarter of 2022.

The post Tesla Stock Falls as Investors Criticize Musk’s Twitter Focus appeared first on theprimarymarket.com.

Musk sent a letter to Twitter stating his intent to complete the takeover for the originally agreed price of $54.20 per share. This immediately sent the Twitter stock surging from $42.60 close on Monday to $52.02 at one point on Tuesday.

Twitter later confirmed the new development in an official statement sent out by the company’s spokesperson. Musk himself also made it official on his Twitter account, tweeting that “Buying Twitter is an accelerant to creating X, the everything app.”

There are no specific details about the “X” app Musk mentions. However, reports indicate that the app should combine messaging features, social media, payment options, and more. The closest comparison to it is China’s WeChat.

Elon Musk made an offer of $44 billion for Twitter earlier this year, with his bid accepted by the company’s shareholders. However, Musk later tried to nix the deal, claiming that the platform had a bigger number of fake and spam accounts than the company was willing to reveal.

Twitter decided to handle the matter in court, filing a lawsuit to force Musk to complete the deal. The

the trial was set to begin in less than two weeks.

The post Elon Musk Changes His Mind, Makes an Offer to Buy Twitter Again appeared first on theprimarymarket.com.

Meanwhile, it’s been nearly three months and this has yet to take place.

Now, there are been all kinds of telltale signs that point to exactly the thing that Musk was talking about. Erosion of wage gains due to a harsh stock market and supremely high inflation has certainly taken a toll on folks, and everyone’s noticing.

And yet, these bankruptcies that Musk predicted have yet to emerge, at least to the extent that Musk was indicating.

This is a testament to just how fickle and complex the world’s economy is. There are definitely issues at play and people are more than right to keep their minds alert in this time. But at the same time, people are still finding ways to thrive without lamenting the end of the world.

There are always many levels to any major industry, and the finance world is no different. Musk’s warning may yet come to pass, but if it does it may still take a while.

Meanwhile, analysts can take solace in the fact that there have only been a mere 212 bankruptcy filings from the start of 2022 until July 31st—a startlingly low number when you consider the country’s population as well as all of these recession predictions.

The post Elon Musk’s Warning Yet to Come to Fruition appeared first on theprimarymarket.com.