Apple stock fell 3% today as it was hit by two headwinds — protests in China threatening iPhone production and claims of “censorship” lodged by new Twitter owner Elon Musk.
09.11.2022 - 13:45 / msn.com
Elon Musk has reportedly lost around $92 billion of his wealth after his Twitter takeover. The world’s richest man is also said to be mulling putting the platform behind a paywall, PEOPLE reported on Tuesday. (08.
11. 22) Bloomberg added shares of Elon’s other business venture, Tesla Inc, which makes up the biggest part of his fortune, were trading as low as $186. 75 on Tuesday, with the drop apparently due to investors in the electric car company raising concerns over the entrepreneur’s $44 billion Twitter purchase deal.
Dad-of-10 Elon, 51, is now said to be worth $177 billion, with his wealth reaching its peak in 2021 at $340 billion when Tesla’s shares were at a record price of $410. A source told the Verge Elon and one of his advisers, venture capitalist David Sacks, have discussed the idea of the platform-wide paywall in recent meetings. The billionaire is under fire as he is being sued by multiple Twitter employees for allegedly conducting a mass layoff in violation of the Worker Adjustment and Retraining Notification Act, which requires employers to give at least 60 days’ notice ahead of being sacked.
The amount a user spends to get past the alleged planned paywall is thought to be in addition to the $8 Elon wants to Twitter users for its coveted blue verification tick. He is also struggling to hold on to the site’s existing revenue streams after several advertisers quit over fears that the platform will no longer be a “safe place” for brands. Famous faces including Whoopi Goldberg have also exited the platform, with the comic, 66, saying it had got “messy” since Elon’s takeover, while horror writer Stephen King, 75, blasted the billionaire should pay him for staying on Twitter instead of charging for a blue tick.
.Apple stock fell 3% today as it was hit by two headwinds — protests in China threatening iPhone production and claims of “censorship” lodged by new Twitter owner Elon Musk.
Stephen King is back at it again calling out Elon Musk. In his latest tweet, the “King of Horror” is taking jabs at the Tesla and Twitter owner.
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Stephen King is back at calling out Twitter’s new direction as Elon Musk took the reins of the company. This time, the bestselling author made an observation over what advertisers the social media platform would have after many companies paused their spending.
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One of CBS’s West Coast subsidiaries has paused its postings and interactions on Twitter, in light of ongoing uncertainty over the future of the social media platform.
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Kathy Griffin was suspended from Twitter but found a way to return to the digital platform by using her deceased mother’s account.
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As Twitter employees face mass layoffs starting today, new overlord Elon Musk says the platform has seen “a massive drop in revenue, due to activist groups pressuring advertisers.”
Twitter has reportedly sent out a company-wide email warning its estimated 7,500 employees that layoffs will start Friday.