Business, Financial & Legal News - Page 5
Twitter has announced that it has entered a "definitive agreement" to be acquired by SpaceX and Tesla CEO Elon Musk.
After facing pressure from shareholders to reconsider Musk's offer of $46.5 billion to purchase Twitter, the company has rolled out a new press release that states the Twitter board has accepted Musk's offer to buy out the company at $54.20 a share.
In an effort to stop Musk's hostile takeover of Twitter the board of directors unanimously decided to take a "poison pill" that allows existing shareholders to purchase Twitter stock at a discount price, in an effort to dilute the holdings of any new investors and thwart Musk's attempt at securing a deal.
For the first time in 11 years, the world's largest streaming platform, Netflix, announced its losing subscribers, sending its stock price plummeting.
Netflix revealed on April 19 its disappointing Q1 results that showcased that subscription growth has decreased by 203,000 paid subscribers across its largest regions; US, Europe, Middle East, Africa, and Latin America. In Q4 2021, Netflix announced it had 221.8 paying subscribers, and according to the streaming platform, the decrease is due to accounting sharing, economic issues, COVID-19 mis-projections, and more.
As a result of this news, Netflix's share price took a large tumble, and now reports from Bloomberg reveal that former and current Netflix employees are reporting, "More people are looking to leave Netflix right now than at any point in recent memory, current and former employees said this past week". The Information reported that Netflix employees have also asked upper management to roll out new stock grants to employees to compensate for the loss that they experienced over the last week.
A social media scandal in China has caused one of the top 500 wealthiest individuals to lose $2.8 billion.
Mr. Wang, the son of property billionaire Wang Jianlin, created a video on April 15 that was posted to China's social video platform Weibo. The video questioned whether the World Health Organization had recommended the herbal remedy, Lianhua Qingwen, created by Wu Yiling, one of China's leading scientists.
Lianhua Qingwen is one of the three government-recommended COVID-19 treatments, and before the video by Mr. Wang, Mr. Yiling's total wealth was around the $6 billion mark, according to Bloomberg. The video caused doubt to spread among investors, sending Shijiazhuang Yiling Pharmaceutical Co's share price in a downwards spiral that saw it decrease by 35% from its peak on April 11. Mr. Yiling's wealth saw a catastrophic drop, sliding by $2.6 billion, and is now sitting at a total of around $4 billion.
Elon Musk has confirmed leaked texts between himself and Microsoft founder Bill Gates regarding a possible meeting.
The leaked texts have circulated on social media platforms such as Reddit and Twitter, with SpaceX and Tesla CEO Elon Musk being tagged in the images to verify their authenticity. The texts state that Gates wished to meet with Musk to discuss "philanthropy possibilities" on climate change and judging by the sentiments in the texts, it appears a meeting place was previously discussed.
Musk then asks Gates if he has a "half a billion-dollar short position against Tesla?", and Gates replies with, "sorry to say I haven't closed it. I would like to discuss philanthropy possibilities." Musk replies by writing, "Sorry, but I cannot take your philanthropy on climate change seriously when you have a massive short position against Tesla, the company doing the most to solve climate change."
Tesla and SpaceX CEO Elon Musk offered to purchase Twitter at $46.5 billion, and reports indicate that Twitter and Musk were scheduled to meet on Sunday to discuss the offer.
Now, the Financial Times has reported that sources close to the deal have said that Twitter is facing pressure to seek a deal with Musk for the sale of Twitter, despite the second largest social media company taking a "poison pill" that would allow existing shareholders to purchase Twitter stock at a discount price, in an effort to dilute the holdings of any new investors and thwart Musk's attempt at securing a deal.
However, if many shareholders back Musk in a tender offer and accept his bid for the company, Twitter's negotiating power would take a hit as the board would be going against many of its shareholders. Even with its defensive "poison pill" and a portion of its shareholders backing it, Twitter may not hold enough negotiating power.
Both of the Russian oligarchs were former executives in the gas industry.
51-year-old Vladislav Avayev and his wife and daughter were found dead on April 18th at his apartment in Moscow. A day later, 55-year-old Sergei Protosenya was found dead alongside his wife and daughter at a villa in Barcelona. Protosenya was formerly the chief accountant of Novatek, Russia's second-largest natural gas producer, while Avayev was the former vice-president of Gazprombank, the third-largest bank in Russia by asset value.
Protosenya was found hanged in his villa while his wife and daughter had been stabbed, and police are considering scenarios where Protosenya killed both his wife and daughter and then himself, or someone staged the crime scene after murdering all three. Avayev was found with a fatal gunshot wound, as were his wife and daughter, with the initial conclusion by investigators being that Avayev killed them and then himself, as there were no signs of anyone else having entered the apartment.
Elon Musk is really sending a message to the powers that be with his latest tweet, striking at Bill Gates and saying "in case u need to lose a boner fast" with a picture of Bill and a "pregnant man" emoji.
There's absolutely no context here, it's just the world's richest man -- and soon-to-be owner of Twitter -- trolling one of the other richest men in the world: Bill Gates. But the pregnant man emoji? I mean a conspiracy theorist would have a field day connecting BOTH of the men to Ghislaine Maxwell, Jeffrey Epstein, and a million bad people in between... but hey, Musk doesn't like to talk about that.
It can't be a dig at Bill being bigger (fatter, if you don't get triggered by the word) than Elon... Elon is a chunky lad as well. So what exactly is Elon saying here? Is Bill Gates really a woman? Is that why Melinda split up with him? Maybe Melinda is a man, like the rumors of Michelle Obama being a man... I guess we'll have to see what Elon Musk says next.
The dark cloud hanging over Bobby Kotick has been getting thicker and thicker, starting at the end of 2019 before the pandemic kicked off -- in the middle of the Hong Kong protests and China covering it all up -- but I don't forget, and neither does the internet (or Jeffrey Epstein's little black book).
Kotick, who isn't just associated with mystery billionaire ultra-weirdo Jeffrey Epstein -- whose girlfriend and BFF Ghislaine Maxwell is in court right now -- but he used to date Facebook (and now Meta) executive Sheryl Sandberg.
Yeah, well Sheryl used her enormous power to pressure UK outlet the Daily Mail to NOT post stories about her "temporary restraining order" against Kotick in 2014. Kotick dated Sandberg for 3 years until 2019 -- the year when his life started to unravel. The Facebook COO contacted the Daily Mail in 2016 and 2019, putting a brick wall between their stories, and the real-world.
The next time you hear Jim Cramer scream "BUY" on some stock -- maybe don't -- as the host of "Mad Money on CNBC" told the world to buy Netflix stock on January 4... and it has absolutely tanked since.
Netflix stock is down 39% in the last 5 days, down from around $350 to just $214 at the time of writing. A disaster, as Netflix stock has a 52-week high of $700.99 and now we're scraping just over $200. SpaceX and Tesla boss Elon Musk said the "woke mind virus" is killing Netflix... and with shows like "He's Expecting" (about a man who is "pregnant") it's no wonder.
Netflix has been getting worse and worse with its content over the years, where its woke-focused content isn't being consumed anywhere near as much. Not only that, but there are far more competitors in the streaming space now including Disney+, Apple TV, HBO Max, and more.
Netflix can't blame losing 200,000 subscribers from its 200,000,000+ strong base of monthly subscribers for the disastrous 35%+ drop of its stock on the opening bell this morning.
SpaceX and Tesla boss -- as well as Twitter enthusiast and board member, Elon Musk -- said that a "woke mind virus" is the biggest threat to civilization. Musk said Netflix had been neglecting its viewership, focusing too much on "woke issues". Anyone that has watched Netflix over the last few years can agree.
Netflix is competing with other streaming giants in the space now, with Apple TV, Disney+, HBO Max, Paramount, and more. The mainstream media wants to blame the Ukraine conflict, but they can't use that as the new pandemic and lay blame for all economic issues because of it. I won't. Because the cost of living and the Ukraine conflict were screwing Netflix, all streaming giants would be suffering.