Even by Elon Musk’s exaggerated definition of weird, the past 24 hours or so have been more than a little peculiar.
On Tuesday alone, Musk stoked investor fears at an economic forum; both dissipated cryptocurrency and inflated it; swung the ax at his flagship company as the board and shareholders of the company he’s suing voted on whether they wanted the deal to go ahead; and must deal with at least two legal files.
It is, by any typical measure, a bonkers series of events. Even for Musk, who has practically made a personal mark of the controversy.
Here’s a quick recap of today’s revelations about the SpaceX CEO.
It sparked drama on Twitter, just as the company’s board takes a vote
Just before Twitter’s Board of Directors unanimously recommended to shareholders that they approve of Musk’s purchase of the company for $44 billion, Musk presented a series of challenges that would first need to be overcome.
Speaking at the Qatar Economic Forum in Doha, Musk listed three “unresolved questions” this should be settled before he buys the business.
There was also the well-known problem of spambots. As the social media site opened its data fire hose for Musk, he said, “we’re still waiting for a resolution on this.” And Musk noted that debt financing will need to be worked out so he can pay for the deal. Between its commitment of $33.5 billion and an additional $7.1 billion from other sources, it is close to the agreed price, but bank loans will have to make up the difference. And it is not known how this will be resolved.
Finally, shareholder approval is, of course, essential. And while the board has given the deal its blessing, it’s less clear that shareholders are so optimistic about it. Some have already complained about how the Twitter acquisition has gone so far.
He Defended Dogecoin (Again) While Downplaying Crypto Investments
At that same forum, Musk again voiced his support for Dogecoin, noting that SpaceX would soon be accepting it for merchandise sales. (As a result, the cryptocurrency was up almost 12% on Tuesday afternoon.) “I just know a lot of people who aren’t that rich who, you know, encouraged me to buy and support Dogecoin.” , musk said. “I respond to these people.”
A little later, however, he apparently covered the broader topic of crypto investing, saying, “I never said people should invest in crypto. In the case of Tesla, SpaceX, myself, we’ve all bought bitcoin, but it’s a small percentage of our total cash.
He responded to a lawsuit over how many people Tesla is laying off
Former employees filed a complaint against Tesla, claiming the company violated labor laws surrounding “mass layoffs” after the release of an internal memo, claiming the company must reduce by 10% of its salaried staff. Musk is trying to change the narrative on this, saying that while the company will cut its salaried workforce by 10% over the next three months, it will increase its hourly hires. In the end, he claims, only 3.5% of the workforce will be affected, saying the total was “not super material”.
He was widely disavowed by his transgender daughter
Beyond that corporate drama, a court filing from April was revealed Tuesday by Musk’s transgender daughter, who said, “I no longer live or wish to be related to my biological father in any way. it would be.”
Xavier Alexander Musk recently turned 18 and asked the court to change his gender recognition from male to female and register his new name, including surname. There were no further details about what happened between the two.