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☆ The stock market is about to do something extremely rare in its history
▼ + stars: | 2024-11-11 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The S & P 500 is on pace to deliver a second straight year of gains above 20%. After last week's postelection rally, the S & P 500 is now up by about 26% on the year. .SPX YTD mountain S & P 500, year to date Thatte called the market advance "exceptional," even before last week's surge to all-time highs. That means that, if history repeats itself, the S & P 500 should end 2024 above 6,000. What's more, Oppenheimer found that gain matching the median advance in those 11 years would push the S & P 500 to finish higher than 6,200.

Persons: week's, Parag, Donald Trump, Thatte, That's, Oppenheimer Organizations: Deutsche Bank

☆ Musk's legal battles pile up as Twitter's ex-CMO becomes the latest to sue him
▼ + stars: | 2024-11-07 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Twitter's ex-CMO, Leslie Berland, is suing Elon Musk, saying she is owed $20 million in severance. The same week as Berland's filing, Twitter's ex-CEO got the go-ahead to proceed with a similar suit. AdvertisementTwitter's former chief marketing officer, Leslie Berland, is suing Elon Musk, saying she is owed over $20 million in unpaid severance. The documents state that a Twitter employee who was there on Bertrand's recommendation cautioned Musk against reinstating Trump in front of the advertisers, leaving him "embarrassed and angry." Related storiesBerland claims she was wrongly denied about $20 million in benefits owed to her under Twitter's policy.

Persons: Leslie Berland, Elon Musk, Twitter's, —, Berland, Musk, Xavi, Donald Trump's, Parag Agrawal, Maxine Chesney Organizations: Service, Bloomberg Law, Twitter, Cannes Lions, Trump, Business, Verizon, Bloomberg Locations: California's, California, Ireland

☆ Ex-Twitter CEO Parag Agrawal has moved his AI startup out of stealth, calling it Parallel
▼ + stars: | 2024-10-21 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Parag Agrawal updated his LinkedIn page with his AI startup's name for the first time: Parallel Web Systems. The ex-Twitter CEO raised about $30 million for the startup, The Information reported in January. AdvertisementThe former CEO of Twitter has moved his AI startup out of stealth mode with a previously unknown name: Parallel Web Systems. Agrawal raised about $30 million for the startup, The Information reported in January when the startup's name was still unknown. From Twitter to AI startupAgrawal was the CEO of Twitter from November 2021 to October 2022, when Elon Musk fired him following his acquisition of the platform.

Persons: Parag Agrawal, Parallel's, —, Agrawal, Elon Musk, Kurt Wagner's, Wagner, Musk, Ned Segal, Vijaya Gadde, Sean Edgett Organizations: Systems, AIs, Service, Twitter, Khosla Ventures, Index Ventures, LinkedIn, Company, Shapley Inc, Business Locations: Palo Alto , California, San Francisco

☆ Markets broaden as investors sell tech winners, but further turbulence may be on the way
▼ + stars: | 2024-07-20 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

The four best-performing stocks in the S & P 500 year to date were down an average of 13.5% last week. .SPX 5D mountain The S & P 500's performance in the past five trading days. The anchoring effect of a persistently strong half-dozen $1-trillion to $3-trillion companies atop the S & P 500 while most stocks wallowed had the effect of suppressing index volatility. The S & P 500 is now about 3% off its record, and the Nasdaq 100 is in a roughly 5% retreat from its high. History says when the S & P 500 has been up more than 10% in the first half of a year , as in 2024, it has gone to further highs by year's end nearly every time.

Persons: Russell, Donald Trump, Cash, Parag Thatte, Thatte, Goldman Sachs, wallowed, Cantor Fitzgerald Organizations: Axonic Capital, Deutsche Bank, Nasdaq

☆ Elon Musk beats $500 million severance lawsuit by fired Twitter workers
▼ + stars: | 2024-07-10 | by ( ) edition.cnn.com time to read: +2 min

The case is one of many accusing Musk of reneging on promises to former Twitter employees, including former Chief Executive Parag Agrawal, and vendors after buying the company for $44 billion in October 2022. Musk also runs the electric car company Tesla, and is the world’s richest person, according to Forbes magazine. The plaintiffs Courtney McMillian, who oversaw Twitter’s compensation and benefits, and Ronald Cooper, an operations manager, said Twitter instead offered fired employees just one month of pay as severance, with no benefits. The judge said the plaintiffs can try amending their complaint, but only for claims not governed by ERISA. The case is McMillian et al v. Musk et al, U.S. District Court, Northern District of California, No.

Persons: CNN — Elon Musk, Trina Thompson, Musk, Parag Agrawal, Courtney McMillian, Ronald Cooper, Twitter, Thompson, ” Organizations: CNN, U.S, Twitter, Forbes, Court, Northern District of Locations: San Francisco, U.S, Northern District, Northern District of California

What's next: Media Matters filed a motion to dismiss Musk's lawsuit in March, but a judge has yet to rule. VCG/GettyGovernment lawsuits and investigationsSEC investigation into Musk's Twitter takeoverThe issues: The Securities and Exchange Commission is investigating Elon Musk's Twitter purchase. Matt Winkelmeyer/Getty ImagesPersonal lawsuits against MuskTornetta v. MuskThe issues: Tesla shareholder Richard Tornetta sued Musk and Tesla in a class action lawsuit regarding Musk's compensation package, which was worth $55.8 billion at the time. Several lawsuits also allege Musk discriminated against them because of their race, gender, or disability in choosing to fire them. The executives were set to receive golden parachutes, but claim Musk and X have not paid them out.

Persons: —, Elon Musk, Musk, Claire Boucher, Grimes, Alex Spiro, Sam Altman, Donald Trump, Spiro, Anna Webber, Angelo Carusone, What's, Gina Carano, Schaerr Jaffe, Tesla, Musk's, Elon, SEC hasn't, Elon Musk's, who've, Owen Diaz, Matt Winkelmeyer, Richard Tornetta, Kimbal Musk, He's, Boucher, Benjamin Brody, Brody, Brody reverberated, Ben Brody, didn't, Robert Kaiden, Kaiden, he's, Agrawal, Parag Agrawal, Ned Segal, Twitter Vijaya Gadde, Sean Edgett, Segal, hadn't Organizations: Service, SpaceX, Business, OpenAI, SEC, Trump, Trump —, Elon, Variety, Media, X Corp, Disney, National Labor Relations Board, UAW, Tesla, Getty Government, Twitter, Securities, Exchange Commission, Justice Department, Reuters, Traffic, Administration, NHTSA, Apple, NLRB, Musk's SpaceX, US, Employment Opportunity, Musk, Nazi, Litigation Locations: Texas, Texas and Missouri, America, Nazi Germany, California, Delaware, San Francisco

☆ Mumbai, India: Wealth gap on voters’ minds as country’s richest city gears up for election
▼ + stars: | 2024-05-15 | by ( Jessie Yeung | ) edition.cnn.com time to read: +7 min

Mumbai, India CNN —For millions of Indians, it’s the city where dreams come true – just look around. Vegetable seller Sachin Chaudhary poses for a picture during an interview with CNN in Mumbai, India, on April 16, 2024. A billboard with India's Prime Minister Narendra Modi displayed on a road in Mumbai, India on April 15, 2024. Noemi Cassanelli/CNNA man cycles along a road in front of the Shiv Sena headquarters in Mumbai, India, on April 16, 2024. Sanjay Sardesai sits on his motorbike outside of the Indian National Congress headquarters during an interview with CNN in Mumbai, India, on April 16, 2024.

Persons: Mukesh Ambani, ’, ”, Sachin Chaudhary, Noemi Cassanelli, Rajani Bhat, “ I’m, “, ” Rajani Bhat, Narendra Modi, ” Kalpita Shinde, it’s, Helen D’Souza, ” Helen D’Souza, CNN ‘, Shiv Sena, Bhat, chai, Parag Sawla, Parag, Chaudhary, Modi, Sanjay Sardesai, CNN Sanjay Sardesai Organizations: India CNN, CNN, Bharatiya Janata Party, BJP, India's, sips, Indian National Locations: Mumbai, India, New York, Colaba, Modi, Dadar

☆ Jack Dorsey said Twitter's board 'has always been a problem' and that he plotted his exit from the firm because of its activist investor
▼ + stars: | 2024-05-10 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Jack Dorsey said Twitter's board — and its activist investor — prompted him to plan an exit from the firm. "I was happy to see it end," Dorsey said of the board when Elon Musk took Twitter private. AdvertisementDorsey told Solana that earlier on, he'd tried to bring Musk onto Twitter's board but was stopped twice. In April 2022, Musk joined Twitter's board of directors after taking a 9.2% stake in the company. But Dorsey said he was also unhappy with the board because of an activist investor seeking to boot him, he said.

Persons: Jack Dorsey, —, Dorsey, Elon Musk, Mike Solana, Parag Agrawal, Solana, he'd, Musk, Paul Singer, Elliot Management's, It's, Dorsey didn't, Bluesky, Donald Trump, Nick Fuentes Organizations: Elon, Twitter, Service, Fund, Elliott Management

☆ Elon Musk had a 'hilarious' way of asking if an ex-Twitter exec wanted to work for him
▼ + stars: | 2024-04-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Elon Musk had a strange way of phrasing a job offer to a former Twitter exec. Beykpour said Musk asked if he wanted to "swipe right" and "hang out and work on the product." During one of their conversations, Musk asked if Beykpour would be interested in continuing to work on product at Twitter. Musk asked Beykpour to "swipe right on whether you want to be here," the Periscope cofounder said. He used the swipe right, swipe left Tinder metaphor and I thought that was kind of hilarious coming from him," Beykpour said.

Persons: Elon Musk, Kayvon Beykpour, Musk's, Beykpour, Musk, —, Parag Agrawal, Elon Musk's, Getty, Noam Galai Beykpour, Walter Isaacson, Isaacson, Elon, I'm, I've Organizations: Twitter, Service Locations: Elon

☆ Elon Musk apologized for 'incorrectly low' Tesla severance packages
▼ + stars: | 2024-04-18 | by ( Jyoti Mann | Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk apologized Wednesday to laid-off Tesla employees for incorrect severance packages. Some workers previously told Business Insider they were offered two months' pay as severance. AdvertisementElon Musk apologized in an email to some laid-off Tesla employees after their severance packages were found to be "incorrectly low," according to a screenshot of the email viewed by Business Insider. "As we reorganize Tesla it has come to my attention that some severance packages are incorrectly low," Musk said in the brief email sent Wednesday. Other workers told BI that as of Wednesday night, they'd yet to receive any information about severance packages.

Persons: Elon Musk, —, Musk, they'd, Tesla, Drew Baglino, who'd, he'd, Rohan Patel, They're, Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett Organizations: Service, Business, CNBC, Worker, Twitter Locations: China

☆ CNBC Daily Open: Disney wins proxy showdown
▼ + stars: | 2024-04-04 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nick Caldwell, now chief product officer at Peloton, is claiming Musk and X "cheated" him and other executives out of a combined $200,000,000 in severance benefits. This lawsuit is similar to the one filed by other Twitter executives, including ex-CEO Parag Agrawal, claiming they were owed $128 million in unpaid severance. [PRO] Autos winnersA Tesla short-seller named two auto stocks that he believes have the potential to deliver 100% upside for investors.

Persons: Robert Iger, Mickey Mouse, Jerome Powell, Steve Cohen, David Einhorn, Elon Musk, Nick Caldwell, Parag Agrawal, Tesla Organizations: Walt Disney Company, New, Children's Hospital, Children's Hospital Los Angeles, CNBC, Dow Jones, Intel, Nasdaq, Fed, U.S, Elon, Twitter Locations: Children's Hospital Los, Los Angeles , California

☆ Elon Musk and X sued by ex-Twitter GM Nick Caldwell over millions in unpaid severance
▼ + stars: | 2024-04-03 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Former Twitter exec Nick Caldwell is suing Elon Musk and X, alleging a breach of contract and a failure to pay severance and benefits he was owed after resigning from the company in 2022. Caldwell's suit is similar to one filed by former Twitter executives, including ex-CEO Parag Agrawal, who claim they are owed $128 million in unpaid severance. "With no factual basis, Musk simply accused Mr. Caldwell of misconduct as a ploy to evade paying him millions of dollars in severance benefits that Musk/Twitter owed to Mr. Caldwell," his attorneys wrote. A few days before his resignation from Twitter, Caldwell shared a post on social media saying, "My wife and soulmate Tia Caldwell passed away suddenly the 15th of October. Read the full complaint — Nicholas Caldwell v. Elon Musk, X Corp. et al (Case 3:24-cv-02022) — below.

Persons: Nick Caldwell, Elon Musk, Caldwell, Parag Agrawal, Musk, Twitter, Brian Bjelde, Lindsay Chapman, Dhruv Batura, didn't, soulmate Tia Caldwell, Read, Nicholas Caldwell Organizations: Twitter, SpaceX, Tesla, CNBC, X Corp Locations: California

☆ Former Twitter execs sue Musk and X for more than $128 million in severance
▼ + stars: | 2024-03-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Former Twitter executives including CEO Parag Agrawal, Chief Financial Officer Ned Segal, head of legal Vijaya Gadde and General Counsel Sean Edgett filed a new lawsuit against Elon Musk and X Corp. in federal court arguing that they are owed $128 million in unpaid severance. The ex-Twitter executives' lawyers argue, "These statements were not the mere rantings of a self-centered billionaire surrounded by enablers unwilling to confront him with the legal consequences of his own choices. Musk bragged to Isaacson specifically how he planned to cheat Twitter's executives out of their severance benefits in order to save himself $200 million." The suit, Agrawal et al v. Musk et al, was filed in California's Northern District and follows news that settlement talks between X Corp. and ex-Twitter managers broke down in a related case in Delaware, Woodfield v. Twitter Inc., where $500 million in unpaid severance to former Twitter managers and engineers is in dispute. Representatives for X Corp. and Elon Musk did not immediately respond to CNBC's request for comment.

Persons: Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett, Elon Musk, Musk, Walter Isaacson, Isaacson, Agrawal Organizations: Twitter, Elon, X Corp, Twitter Inc Locations: Delaware

☆ Former Twitter execs sue Elon Musk over severance payments
▼ + stars: | 2024-03-04 | by ( Brian Fung | Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —A group of former Twitter executives sued Elon Musk on Monday in a bid to recover more than $128 million in severance that they allege Musk has not paid since he acquired the company, now called X, more than a year ago. The executives include former Twitter CEO Parag Agrawal, former CFO Ned Segal, former Chief Legal Officer Vijaya Gadde and former General Counsel Sean Edgett — all of whom were fired within hours after Musk took control of Twitter. Monday’s lawsuit is just the latest legal action brought by former Twitter employees related to Musk’s acquisition. The company has also been accused of failing to pay annual bonuses to employees laid off after Musk’s takeover. Musk and X have also faced lawsuits from vendors, landlords and business partners who claim the company has failed to pay what they are owed.

Persons: Elon Musk, Musk, Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett —, “, ”, Agrawal, Gadde, Segal Organizations: New, New York CNN, Twitter, Court, Northern, Northern District of Locations: New York, Northern District, Northern District of California, Delaware

☆ Former Twitter execs say Elon Musk still owes them $128 million in severance
▼ + stars: | 2024-03-04 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Four former Twitter execs, including ex-CEO Parag Agrawal, are suing Elon Musk over their severance. Musk has previously said he fired the execs for cause and doesn't owe severance. AdvertisementFour former Twitter lieutenants who were fired following Elon Musk's 2022 takeover are now suing him, claiming unpaid severance. They are collectively asking for $128 million, according to the federal lawsuit filed Monday in California obtained by Business Insider. This isn't the only severance-related suit Musk and X have faced.

Persons: Parag Agrawal, Elon Musk, Musk, —, Elon Musk's, Ned Segal, Vijaya Gadde, Sean Edgett, Agrawal, Segal, Gadde, Walter Isaacson, I've Organizations: Twitter, Service, Business, Wall Street, Elon, Reuters Locations: California

☆ Former Twitter Executives Sue Elon Musk for $128 Million
▼ + stars: | 2024-03-04 | by ( Kate Conger | More About Kate Conger | ) www.nytimes.com time to read: +1 min

Four former Twitter executives sued Elon Musk on Monday, accusing the billionaire of withholding severance payments worth $128 million after he fired them from the company during his 2022 takeover. When Mr. Musk bought Twitter for $44 billion, he fired Parag Agrawal, its chief executive; Ned Segal, its chief financial officer; Vijaya Gadde, its head of legal and policy; and Sean Edgett, its general counsel. Mr. Musk later renamed the company X. In the event of an involuntary termination, Mr. Agrawal was entitled to a so-called golden parachute payment of $60 million, according to a Twitter securities filing. Under those same circumstances, Mr. Segal would receive $46 million and Ms. Gadde $21 million, according to the filing.

Persons: Elon Musk, Musk, Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett, Agrawal, Segal, Gadde Organizations: Twitter, Northern, Northern District of Locations: U.S, Northern District, Northern District of California

☆ Twitter employees monitored Elon Musk's jet-tracking account to see when he'd be in the office
▼ + stars: | 2024-02-20 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Twitter staff also took to watching a social-media account that tracks Musk's planes, according to a new book about the company. Musk's jet travels made Sweeney's jet-tracking account @Elonjet more active than ever. Musk also reached out directly to Sweeney about the jet-tracking account. AdvertisementSince then, the college student has set up an account on the site that posts Musk's flight data with a 24-hour delay. The college student also posts flight data associated with other celebrities, including Taylor Swift and Mark Zuckerberg.

Persons: —, Elon, Musk, Jack Sweeney —, Kurt Wagner, Wagner, Elon Musk, Sweeney, he'd, Lars Moravy, Andrej Karpathy, Parag Agrawal, Agrawal, Vijaya Gadde, Jack Dorsey, Alex Spiro, Dorsey, Taylor Swift, Mark Zuckerberg, Grimes Organizations: Service, Twitter, Bloomberg, Business, SpaceX, Tesla, Gulfstream, Super, University of Central, University of Central Florida Locations: San Francisco, Texas, California, University of Central Florida

☆ X has been bleeding nearly $70 million per day in value since Elon Musk took over
▼ + stars: | 2023-10-31 | by ( Grace Kay | Kali Hays | ) www.businessinsider.com time to read: +4 min

X's valuation has dropped on average nearly $70 million per day during Elon Musk's first year of ownership. AdvertisementAdvertisementX has shed nearly $70 million in value per day since Elon Musk took over the social media company. On Monday, Insider confirmed that employees of the company formerly known as Twitter were given stock grants that showed the social media company was worth about $19 billion. "How do you make a small fortune in social media?" Despite the backlash, X CEO Linda Yaccarino and Musk have continued to strike a postive note.

Persons: Elon Musk's, —, Elon Musk, Fortune, Musk, Linda Yaccarino, Yaccarino, Insider's Lara O'Reilly, Twitter's, Parag Agrawal, He's Organizations: Service, Elon, Twitter

While bad loans in India's banking sector are at a decade-low, estimated at 3.6% of assets by March 2024 by the central bank, Reserve Bank of India Governor Shaktikanta Das said this month the central bank was monitoring some categories of personal loans, without elaborating. What's worrying the regulator is a surge in tiny personal loans, particularly loans of up to 10,000 rupees ($120) taken for three to four months, often for "lifestyle" spending, according to a person familiar with the central bank's thinking. Four people discussed the central bank's concerns with Reuters but declined to be identified as they are not authorised to speak to the media. Ismail Sayyed, a 30-year old cab driver from Mumbai, took his first personal loan of 5,000 rupees this year. Central bank officials "have been ringing the bell", said an official at a large bank that has seen sharp growth in personal loans.

Persons: Francis Mascarenhas, Shaktikanta Das, CRIF, Ismail Sayyed, Kadam, Rajeev Jain, Ira Dugal, Sonali Paul Organizations: Reserve Bank of India, REUTERS, Reuters, Bajaj Finance, UBS, Thomson Locations: Mumbai, India

☆ US regulator probes Twitter security lapse before Musk took over - Bloomberg News
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 10 (Reuters) - The U.S. securities regulator is investigating how Twitter managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year, Bloomberg News reported. A bug on the social media platform had let outsiders view user email addresses during password resets, which revealed the identity of users, Bloomberg News said. Musk renamed the social media platform as X following the acquisition. Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Elon Musk, Jack Dorsey, Ned Segal, Parag Agrawal, Musk, Chavi Mehta, Shailesh Kuber, Shounak Organizations: Twitter, REUTERS, Bloomberg News, SEC, Thomson Locations: U.S, Bengaluru

☆ Twitter is being sued for withholding pay and firing a cofounder of an app it acquired for $36 million
▼ + stars: | 2023-09-06 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

Twitter acquired Squad, a screen sharing app, in 2020. Twitter acquired Squad at the end of 2020, in a cash and stock deal worth $36 million, Sutin said. The other founder of the app is Esther Crawford, who became a director at Twitter after the acquisition. Squad's rise in popularity "caught the attention" of Twitter, according to the lawsuit, and it was acquired not long after. As soon as Musk officially acquired Twitter, he ousted its entire C-suite including Agrawal.

Persons: Ethan Sutin, Esther Crawford, Sutin, he's, Elon Musk, Crawford, Musk, Parag Agrawal, Twitter's, Agrawal, Kayvon Keykpour, curt, Kali Hays Organizations: Twitter, Musk, Agrawal Locations: San Francisco, khays@insider.com, @hayskali

☆ Elon Musk met then-Twitter CEO Parag Agrawal for a secret dinner in 2022 and said Agrawal was not the 'fire-breathing dragon' the platform needed
▼ + stars: | 2023-09-01 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

Elon Musk and then-Twitter CEO Parag Agrawal got dinner together in March 2022. Musk came away from the meeting describing Agrawal as a nice guy, but not the "fire-breathing dragon" Twitter needed. After the meeting, Musk said Agrawal was a "really nice guy." Messages between Musk and Agrawal were released in September 2022 as part of a lawsuit Twitter filed against Musk in July 2022. "Great dinner :)," Musk responded.

Persons: Elon Musk, Parag Agrawal, Musk, Agrawal, Walter Isaacson's, Elon, Walter Isaacson, Isaacson, Twitter's, Bret Taylor —, Ned Segal, Vijaya Gadde Organizations: Twitter, Street Journal, Musk Locations: Musk's

☆ Elon Musk is 'totally out of his element' at Twitter because he doesn't 'understand social media,' a Harvard leadership expert says
▼ + stars: | 2023-07-28 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

A Harvard leadership expert thinks Elon Musk is "totally out of his element" in running Twitter. He explained that the billionaire doesn't have any expertise of running a social media platform. A Harvard leadership expert weighed in on Elon Musk's takeover of Twitter and the changes he's made, saying that the billionaire is "totally out of his element" because social media is not his area of expertise. George suggested that Musk should let Twitter's new CEO Linda Yaccarino call the shots. William Klepper, a management professor teaching an executive leadership course at Columbia Business School, previously told Insider that Musk's Twitter takeover is "a case study of failed leadership."

Persons: Elon Musk, doesn't, Bill George, Elon, George, Musk, Parag Agrawal, Ned Sagal, Vijaya Gadde, Sean Edgett, Linda Yaccarino, William Klepper, Klepper Organizations: Harvard, Twitter, Harvard Business School, CNBC, SpaceX, Columbia Business School Locations: Elon Musk's

☆ Harvard expert: Elon Musk's Twitter rebrand shows he's 'out of his element' there—'I don't think he understands social media'
▼ + stars: | 2023-07-27 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Elon Musk's Twitter rebrand suggests that he's "totally out of his element," says Harvard leadership expert Bill George. Musk announced his decision to abandon the 16-year-old Twitter brand Sunday, opting for the new name and logo, X. George, who's studied effective leadership and leadership failures over the past two decades, says Musk's modifications to the platform are a "big mistake." In contrast, running a social media company may require a high level of interpersonal skills, which Musk's own brother says he lacks. "Now, that he has the [new] CEO of Twitter, he needs to let her restore what Twitter was, so [users and] advertisers come back," George says.

Persons: Elon, Bill George, George, Musk, Parag Agrawal, who's, —, Bloomberg —, Tesla, Berkshire Hathaway, Warren Buffett, George agrees, Linda Yaccarino Organizations: Twitter, Harvard, Harvard Business School, CNBC, Bloomberg, SpaceX, NASA, U.S ., Berkshire Locations: Elon Musk's

☆ Did Elon Musk buy Twitter? Inside the unexpected acquisition of the social media platform
▼ + stars: | 2023-07-22 | by ( Grace Kay | Kali Hays | ) www.businessinsider.com time to read: +2 min

Elon Musk officially reached a deal to buy social media platform Twitter. The billionaire took the company private by paying $54.20 per share, paying about $44 billion in total. In October 2022, billionaire Elon Musk completed a deal to acquire social media platform Twitter for $44 billion after a wild six months. But on April 25, Twitter said it would agree to be acquired by Musk for $44 billion. As a result of the new deal, Twitter's lawsuit against Musk over the $44 billion purchase came to an end.

Persons: Elon Musk, Musk, Twitter, he'd, Parag Agrawal, Ned Segal Organizations: Morning, Twitter

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