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Search resuls for: "Prince Alwaleed bin Talal"


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☆ White House says reports about national security reviews of Elon Musk's Twitter deal and Starlink network were 'not true'
  + stars: | 2022-10-25 | by ( Kate Duffy | ) www.businessinsider.com   time to read: +2 min
The White House has said reports of national security reviews for Elon Musk's deals were false. The White House press secretary said in a briefing: "The national security review, that is not true." Bloomberg reported last week the US was weighing national security reviews for some of Elon Musk's ventures. Those reportings are not true," White House press secretary Karine Jean-Pierre said in a press briefing on Monday. "The national security review, that is not true."
☆ The clock is ticking for Elon Musk to buy Twitter — and he's running out of time
  + stars: | 2022-10-25 | by ( Grace Kay | ) www.businessinsider.com   time to read: +4 min
ET to close his deal with Twitter or a trial date will be set. If Musk becomes Twitter's new owner, Twitter will undergo a chapter of major change and likely layoffs. When Musk initially filed to end the court case and buy the company at the original price, Twitter appeared wary of the billionaire's intentions. The company has said it will not close the deal until Musk can prove he has funding in place. Last week, The Washington Post reported that Musk planned to cut about 75% of the company's staff.
☆ Elon Musk responds 'good point' to tweet saying there was less uproar over Jeff Bezos buying The Washington Post than Musk buying Twitter
  + stars: | 2022-10-23 | by ( Sarah Jackson | ) www.businessinsider.com   time to read: +3 min
Elon Musk's deal to buy Twitter has drawn concern about the management of free speech, misinformation, and dangerous content on the platform if it happens. A Twitter user said people weren't worried about Jeff Bezos' purchase of The Washington Post the way are about Musk's Twitter deal. The government is reportedly considering reviewing Musk's deal as it appears to near the finish line. Musk also reportedly told investors he planned to slash 75% of Twitter's 7,500-strong workforce, according to The Washington Post. The US government is reportedly considering national security reviews of Musk's Twitter takeover, Bloomberg reported earlier this week, citing people with knowledge of the matter.
☆ 'Elon, The Everywhere' — Elon Musk is worrying government officials with his growing presence in global affairs, report says
  + stars: | 2022-10-23 | by ( Hannah Getahun | ) www.businessinsider.com   time to read: +4 min
Elon Musk's influence in global affairs has some officials worried, The Washington Post reported. Musk has kept in touch with foreign officials while staying away from Washington, per the Post. Musk has publicly met with Russian President Vladimir Putin, Brazilian President Jair Bolsonaro, and other foreign leaders, raising conflict of interest questions. Government officials have bolstered Musk's competitors in an effort to reduce their reliance on his businesses, the Post report said. The Post report notes, however, that there is still a large interest from the US government to work with Musk.
☆ Twitter stock falls after report says Biden admin weighing security review of Musk ventures
  + stars: | 2022-10-21 | by ( Clare Duffy | ) edition.cnn.com   time to read: +3 min
The stock reaction, which rebounded somewhat later in the morning, followed a Bloomberg report that Biden administration officials are in early discussions about possibly subjecting some of Musk’s ventures to national security reviews, including the planned Twitter (TWTR) takeover. It’s unclear what, if any, impact the reported security review could have on completing a deal that has already been subject to months of uncertainty. In a separate report Thursday evening, Bloomberg said that bankers and lawyers for both Twitter and Musk are preparing the paperwork needed to complete the deal. Bloomberg also last week reported that the company had frozen employees’ stock accounts in anticipation of the deal’s completion. On a conference call this week to discuss Tesla’s earnings results, Musk said he was “excited” about the Twitter deal, but also admitted that he is “obviously overpaying” for it.
☆ The US government is considering a national security review of Elon Musk's $44 billion Twitter acquisition, report says. If it happens, Biden could ultimately kill the deal.
  + stars: | 2022-10-21 | by ( Kate Duffy | ) www.businessinsider.com   time to read: +4 min
US officials are looking at a national security review for Elon Musk's Twitter deal, sources told Bloomberg. The CFIUS carries out security reviews if a "transaction threatens to impair the national security of the United States," according to federal regulations. If the Twitter deal is reviewed by CFIUS for national security reasons, as reported by Bloomberg, Biden has the ability to stop the acquisition from going ahead. The people with knowledge of the matter told Bloomberg that the discussions about security reviews were at an early stage. SpaceX's Starlink internet network could also be subject to a national security review, the people said.
☆ Explainer: How Elon Musk funded $44 billion Twitter deal?
  + stars: | 2022-10-07 | by ( Hyunjoo Jin Chibuike Oguh | Hyunjoo Jin | Chibuike Oguh | ) www.reuters.com   time to read: +3 min
Oct 28 (Reuters) - Elon Musk on Thursday closed the $44 billion deal announced in April to take Twitter Inc (TWTR.N) private and took ownership of the influential social media platform by firing top executives immediately. read more Earlier this month, Musk brought the deal back on the table after previously trying to walk away from it. Musk pledged to provide $46.5 billion in equity and debt financing for the acquisition, which covered the $44 billion price tag and the closing costs. That had left Musk in need for an additional $22.4 billion of funds to cover the equity financing portion of the deal. Musk would have needed to raise an additional $2 billion to $3 billion to complete the financing for the deal.
☆ Twitter hunts for documents showing possible connection between Elon Musk and former executive turned whistleblower Peiter 'Mudge' Zatko
  + stars: | 2022-09-22 | by ( Kali Hays | ) www.businessinsider.com   time to read: +5 min
Zatko accused Twitter of lax security and other missteps during his time as a top executive. He also sided with Elon Musk in claiming "bots" are improperly quantified on the platform. Twitter now wants to know if Zatko has had prior dealings with Musk or those on his side of the deal. He also openly sided with Musk and his claims that Twitter hosts more "bots" or fake accounts that it publicly discloses. A section of Zatko's disclosure is titled "Lying about Bots to Elon Musk" and accuses Twitter of misrepresenting how it counts and combats spam accounts, saying "Elon Musk is correct."
☆ Saudi Arabia's Kingdom Holding invested over $500 million in Russian energy companies around the time Russia invaded Ukraine
  + stars: | 2022-08-15 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +2 min
Kingdom Holding invested in Russia's Gazprom, Rosneft, and Lukoil from February to March this year. Saudi Arabia's sovereign wealth fund owns 17% of Kingdom Holding. Kingdom Holding, one of Saudi Arabia's highest profile companies, is mostly owned by Prince Alwaleed bin Talal. Kingdom Holding posted details of the transactions into Russian energy companies Gazprom, Rosneft, and Lukoil on Twitter on Sunday. The tweets show the company invested 1.37 billion Saudi riyals, or $365 million, in Gazprom and 196 million riyals in Rosneft in February 2022.
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