Elon Musk
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What started as a joke has turned into a real-life prototype. Elon Musk japed that he'd dig tunnels under Los Angeles to avoid traffic, and on Tuesday his Boring Company opened its first prototype tunnel in LA. The entrepreneur behind Tesla and SpaceX also provided more details on how the system works. Musk started The Boring Company as a solution to traffic and congested cities. Machines dig tunnels to fit a vehicle, and an elevator shaft drops them down. From there, the car deploys tracking wheels that rub against the walls to guide it along the tunnel. For now, it's unclear how a vehicle...
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Elon Musk says he doesn't respect SEC, his tweets have no oversight
Elon Musk stepped back into the limelight after a tumultuous year. The automaker he oversees, Tesla, was rocked with SEC investigations, production qualms, but turned a profit for the first time in years this year. In an interview with CBS' "60 Minutes" that aired Sunday, Musk recapped 2018 and...
Sean Szymkowski -
Tesla says SEC subpoenaed information about 2017 production numbers
The Securities and Exchange Commission wants to know if Tesla CEO Elon Musk misled investors last year about the automaker's capacity to build the Model 3 sedan, the company disclosed Friday. In a routine filing to investors, Tesla said the SEC subpoenaed information about statements made in 2017...
Joel Feder -
Tesla reportedly faces FBI investigation over production numbers
Tesla reportedly faces an investigation by the FBI that the automaker and CEO Elon Musk may have misled investors about its production numbers. The Wall Street Journal reported Friday that the FBI is "examining whether Tesla misstated information about production of its Model 3 sedans and misled...
Joel Feder -
Tesla CEO Elon Musk's settlement with SEC approved by judge
Tesla and its CEO Elon Musk's settlement with the Securities and Exchange Commission has cleared its final hurdle. The settlement has been approved by U.S. District Judge Alison Nathan in Manhattan. Bloomberg reported the agreement was made final in Manhattan on Tuesday. The lawsuit stemmed from a...
Joel Feder -
James Murdoch could take chairman role at Tesla
James Murdoch, son of billionaire media mogul Rupert Murdoch, is the leading candidate to take over the chairman role at Tesla, the Financial Times reported Wednesday, citing two people familiar with the matter. However, Elon Musk, current CEO and chairman at Tesla, hit Twitter shortly after the...
Viknesh Vijayenthiran -
Just days after settling with the Securities Exchange Commission, Tesla CEO Elon Musk took to Twitter to troll the SEC on Thursday. Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point! — Elon Musk (@elonmusk) October 4, 2018 "Just want to that (sic) the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" Musk tweeted. The CEO then doubled down in a response to Silicon Valley socialite Robert Scobe, after Scoble suggested it should have said committee, not commission. Sorry about...
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Tesla CEO Elon Musk settles with SEC, fined $40M and will step down as chairman
Tesla and its CEO Elon Musk settled a lawsuit with the Securities and Exchange Commission on Saturday that will result in a $40 million fine and a new chairman of Tesla's board of directors. The lawsuit was filed after Musk claimed "funding secured" in tweet as he floated the idea of taking the...
Joel Feder -
SEC sues Tesla CEO Elon Musk for lying about funding, seeks to bar him from running Tesla
Note to readers: This story has been updated from its original version with comment from Musk. Federal regulators said Thursday in a lawsuit that Tesla CEO Elon Musk intentionally misled investors last month when he tweeted that he had "funding secured" to buy back millions of dollars in shares...
Aaron Cole -
DOJ wants to know if Tesla CEO Elon Musk broke the law in going-private tweets
On August 7 Tesla CEO Elon Musk tweeted about taking the automaker private. While it may have seemed to slip out of the news, the tweet had not slipped the minds of federal agencies. The Wall Street Journal reported on Tuesday that the Department of Justice (DOJ) now has an open investigation into...
Joel Feder -
Volkswagen was reportedly Tesla's backer to go private
Volkswagen may have offered to come to Elon Musk's rescue but the Tesla CEO turned down funding from the German automaker and others to take his company private, according to a report from The Wall Street Journal on Monday. Elon Musk started a circus Aug. 7 when he tweeted about taking Tesla...
Joel Feder -
Elon Musk decides to keep Tesla public, board agrees
After a 17-day roller coaster, Tesla [NASDAQ: TSLA] CEO Elon Musk announced Friday via a blog post on the automaker's website that Tesla will remain a publicly traded company. The announcement comes more than two weeks after Musk tweeted his idea of taking Tesla private at $420 per share and said...
Joel Feder -
It’s hard to overstate Elon Musk’s contributions to the 21st century. As one of PayPal’s founders, Musk cemented his fortune. As the dreamer behind SpaceX, he cemented his vision for humanity’s future. As Tesla’s CEO, he’s created an automaker that not only established itself as a major force in a few short years but also redefined the idea that “environmentally responsible” and “enviable” aren’t mutually exclusive. And now it’s time for Musk to step aside. As the ongoing circus around Tesla continues, it’s clear...
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SEC subpoenas, board surprised, investor lawsuits: Tesla woes mounting?
A reported subpoena from the Securities and Exchange Commission may add to the long list of growing worries for Tesla and its embattled CEO Elon Musk that now includes potential investor lawsuits, federal inquiries, and reports that the automaker's board of directors may not have been fully briefed...
Joel Feder -
Elon Musk says talks with Saudis led him to tweet "funding secured"
Tesla [NYSE: TSLA] CEO Elon Musk provided insight Monday behind his "funding secured" comment made last week when he floated the idea of taking the automaker private. Musk released a statement on Tesla's blog and wrote the sovereign wealth fund of Saudi Arabia approached him multiple times in the...
Joel Feder -
Report: SEC inquired about Elon Musk's tweet regarding taking TSLA private
The Internet and financial industry weren't the only ones to take notice Tuesday when Tesla CEO [NYSE: TSLA] Elon Musk took to Twitter floating the idea of taking the automaker private. The Wall Street Journal reported Wednesday that SEC investigators could be looking into a variety of violations...
Joel Feder -
Elon Musk isn't kidding, Tesla board confirms TSLA could go private
Elon Musk disrupted multiple industries on Tuesday when the Tesla CEO [NASDAQ: TSLA] took to Twitter to float the idea of taking the Silicon Valley automaker private. Musk mused Tesla could be bought back at $420 per share. On Wednesday morning, multiple members of Tesla's board of directors signed...
Joel Feder -
Updated: Elon Musk considering taking Tesla private, TSLA stock trading halted
Update: 3:53 pm EST: Tesla stock is now trading again. It opened today at $341.99 and is up 10.61 percent at $378.26 currently. ------------------------------------------ Update 3:44 pm EST: Tesla released a statement that was emailed to employees earlier today laying out the potential of taking...
Joel Feder -
Twitter makes it incredibly easy to gain insight into what Tesla CEO Elon Musk is thinking, for better or worse. On Sunday, Musk let slip on the social media platform that future Teslas will be reminiscent of K.I.T.T. of "Knight Rider" fame, complete with artificial intelligence. Musk replied to a Twitter user asking if we'll see K.I.T.T.-like artificial intelligence in Teslas in the future. The CEO simply replied, "Yes" to the question. The discussion first came after Musk tweeted an article detailing the most significant AI happenings of 2017. With the tweet, Musk said, "the future is...
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Tesla sues ex-employee who claims whistleblower status
After Tesla CEO Elon Musk accused an ex-employee of being a saboteur, Tesla filed suit against former Gigafactory technician Martin Tripp on Wednesday in a Nevada federal court, according to a Thursday report in the Washington Post. The lawsuit accuses Tripp of stealing confidential photos and...
Sean Szymkowski -
Boring Company runs Tesla Model X in prototype tunnel
The Boring Company tunnels will fit a Tesla Model X electric car. That's the latest bit of news from Elon Musk's underground adventure. The company posted a short video (taken vertically...) of a Model X moving through a tunnel on what appears to be the "skates" that propel the car. It's important...
Sean Szymkowski -
Elon Musk reveals when $35K Tesla Model 3 could start production, admits brake issue
Tesla's rollout of the Model 3 has been anything but smooth sailing, and thousands of customers are still waiting for one very important Model 3 variant: the base model. It's the car Tesla CEO Elon Musk has consistently promised would come with a $35,000 price tag and 220 miles of range. Now, Musk...
Sean Szymkowski -
Elon Musk's latest venture could be...bricks?
Elon Musk has dabbled, or hinted at dabbling, in numerous industries. The Tesla CEO is best known for his work at the electric-car company, SpaceX, and the Boring Company. Oh, and he wants to create a candy company, among other things. What might be next for Musk? As if he doesn't have his hands...
Sean Szymkowski -
Elon Musk envisions $1 rides to use Boring Company tunnels
Elon Musk, CEO of The Boring Company, as well as Tesla, began to lay out plans for how his interpretation of future transportation will look in Los Angeles. The Boring Company will build an urban transport system called Loop, and Musk thinks the transportation solution will revolutionize how...
Sean Szymkowski