Elon Musk Dumps $4 Billion in Tesla Stock After Twitter Acquisition

Tesla boss Elon Musk has sold 19.5 million Tesla shares worth almost $4 billion since he took over Twitter, according to regulatory filings.

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Stellantis Joins VW, GM in Pulling Twitter Ads

Stellantis is now among the ranks of large companies that have paused or pulled advertising on Twitter.

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Volkswagen Group Pulls Twitter Advertising

Earlier this week, General Motors pulled its Twitter advertising. Now Volkswagen Auto Group is following suit. The company is recommending that its brands pause advertising on Twitter for the time being.

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GM Pulls Twitter Advertising Temporarily

When I posted Friday's QOTD, I was wondering if perhaps I was overthinking things. I wondered how Tesla boss Elon Musk owning Twitter -- a social-media platform used by Tesla's competitors -- would affect the automotive industry and the automotive press.

Apparently, I am not the only one with concerns.

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QOTD: What Does Elon Musk Buying Twitter Mean for the Automotive Industry?

It's official. Tesla boss Elon Musk now owns Twitter, one of the most influential social media platforms.

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Elon Musk Sells Tesla Stock Worth $4 Billion

Elon Musk has sold an estimated $4 billion worth of Tesla stock days this week after reaching a $44 billion deal to purchase Twitter. Regulatory filing show the CEO offloading nearly 4.5 million shares of the automaker between April 26th and the 27th.

The timing of the transaction makes the why of the situation fairly obvious. Despite the resulting political hubbub, Musk reached an agreement on April 25th to acquire Twitter. The deal was tied up with tens of billions of dollars worth of his Tesla shares to support margin loans after the executive said he could come up with $21 billion in equity. While some questioned where the funding would come from, others claimed it was obvious.

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Unintended Consequences: Henrik Fisker Abandons Twitter After Musk Buys the Place

By now, save for only the least informed gearheads, almost everyone has heard Elon Musk has been successful, at least to this point, in his quest to buy Twitter. This development has caused no shortage of natterings in all corners of the internet, with tech blogs suddenly discovering the unpredictable and sometime unfathomable morass that is Musk’s social media presence. Auto journalists have been dealing with such issues for years.

One surprising result of the Twitter buyout? Henrik Fisker, boss of an EV company which ostensibly competes with Tesla, has packed up camp and disappeared.

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Judge Rules Against Elon Musk in Tweet Case

When Tesla boss Elon Musk expressed a desire to buy Twitter last week, citing an absolutist vision of free speech as at least one reason behind his motivations, one had to wonder if his running afoul of the Securities and Exchange Commission over one of his tweets played a part.

To be sure, even if Twitter had no regulations moderating speech on the platform, Musk (or anyone in a similar position) could violate SEC regulations via tweet — a platform’s rules don’t protect someone from the Feds’ regs.

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Please, People: Don't Jump Your Cars for Clicks

I am an optimist by nature. One must be, in order to be a lifelong Chicago sports fan — otherwise, the crushing realization that decades of failure are likely to be followed by a future that consists of more of the same might cause a person to take a one-way stroll into Lake Michigan.

I am trying to retain that optimism even as more and more evidence, both empirical and anecdotal, emerges that social media has warped humanity’s brains beyond recognition. I try to see some value in it — surely your second cousin twice removed would be unaware of your recent Jamaican vacation and how much fun you had YOLO’ing if you didn’t have a Facebook account, right?

Surely your 10 Twitter followers must know your thoughts on how to solve the morass in Ukraine, because you have figured out something that world leaders haven’t, and the world just has to know.

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Opinion: EV Discourse Once Again Lacks Nuance

Electric vehicles have once again become a political football.

As someone who lived through the Chevrolet Volt discourse all those years ago, I’m getting a sense of déjà vu.

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Professional Troll Elon Musk At It Again

In addition to Elon Musk’s title as CEO — sorry, Technoking — of Tesla, along with his role as boss of SpaceX, we need to add professional troll to his resume.

How else to explain his latest Twitter spat?

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QOTD: Standing Out With Bad Paint Colors?

I sparked a minor Twitter argument this week after offering up an image of a brand new car that’s available in a truly horrible exterior color. Public Car Twitter opinion mobilized quickly and angrily against my take, and only a couple others were brave enough to take my side against such a visual crime.

Today we talk paint.

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Ghosn Weirdness Intensifies

Happy to relegate Carlos Ghosn to the past, Renault has announced its former CEO will soon leave the company’s executive board, along with Cherie Blair, wife of former British prime minister Tony Blair. Annette Winkler, the ex-head of Daimler’s Smart brand, will be proposed as the new director at the company’s annual meeting in June, according to the automaker.

The company also decided that Ghosn is not entitled to an annual retirement salary of about 765,000 euros a year due to an internal probe that identified “questionable and concealed practices and violations of the group’s ethical principles.”

Of course, Ghosn maintains he was the victim of a corporate coup masterminded by Nissan executives. The ousted exec recently claimed he’s “getting ready to tell the truth about what’s happening” over social media.

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Stick It to 'Em: Michigan Loves Manual Transmission (Assuming Social Media Is Real Life…)

The shouting factory that is Twitter, by and large, should generally not be considered as something that resembles real life. Between trolls and various other bottom feeders, it can be tough to find real information amongst all the noise.

Every now and then, a nugget of information appears that makes weathering the commotion worthwhile. Despite take rates being lower than this winter’s average temperatures, stickshifts are apparently a very popular topic in the Wolverine State.

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Going Car-free May Work for You, But It Won't Work For All

Journalist Randy Essex of the Detroit Free Press took to those same digital pages last week to discuss how great his new car-free life is, even during the life-threatening cold of the polar vortex.

To which I say, good for him. If he’s happy living a car-free life in Detroit, more power to him. But his article is just the latest part of a conversation happening, at least in certain circles on social media, about going car-free.

This isn’t to pick on Essex. Again, if not having their own car works for him and his wife, that’s fine with me. To each their own, you do you, all that jazz. But going car-free won’t work for everyone, and urbanites, especially urbanite auto journalists, need to remember that.

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  • Ajla GM didn't do this even when Corvette sales and cocaine use were at their peak.
  • Dwford How many more wealthy performance car buyers does Chevy think they can drag into their showroom full of middle of the road crossovers? I guess they will find out
  • SCE to AUX It's been done before, with varied success:Ford --> LincolnHyundai --> GenesisGM --> XLR (Cadillac), ELR (Cadillac)VW Touareg --> Porsche CayenneI suspect GM is trying to avoid the Mustang fiasco (which is working for Ford, BTW), by not making the Corvette name a sub-brand - only its hardware.(In the Mustang's case, YTD 46% of "Mustang" branded vehicles are the Mach-E, but they share no hardware. GM's plan is much different and less controversial.)Back to the sub-brand: the XLR and ELR experiments were total duds, borrowing hardware from the Corvette and Volt respectively. Both sullied Cadillac's name - not Chevy's.
  • Art Vandelay I don’t care what they do with the brand. But I do want to see how a mid engined platform spawns a 4 door and a crossover
  • Varezhka If they’re going to do this, might as well go all the way and make it a standalone brand instead of a Chevy sub-brand. They already have a unique emblem, after all. Shouldn’t there be enough empty former Hummer, Saab, or Cadillac dealer showrooms to house them?