Elon Musk, chief executive of Tesla, appears via video link at the Qatar Economic Forum in Doha. Bloomberg
Elon Musk, chief executive of Tesla, appears via video link at the Qatar Economic Forum in Doha. Bloomberg
Elon Musk, chief executive of Tesla, appears via video link at the Qatar Economic Forum in Doha. Bloomberg
Elon Musk, chief executive of Tesla, appears via video link at the Qatar Economic Forum in Doha. Bloomberg

Elon Musk says Twitter deal still has 'unresolved matters' and clarifies Tesla job cuts


Ian Oxborrow
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Elon Musk's $44 billion deal to buy Twitter continues to face "unresolved matters", the billionaire businessman said on Tuesday.

Mr Musk, who is chief executive of Tesla, made the comments on Twitter at the Qatar Economic Forum, organised by Bloomberg, at which he appeared via video.

He also spoke on a range of subjects during the 20-minute session.

Here are some of his most significant discussion points:

Twitter takeover remains held up by bots saga

Mr Musk, who announced the $44bn offer to acquire Twitter in April, later threatened to withdraw from the deal if the social media network failed to provide accurate data on spam and fake accounts.

The company was in a "clear material breach" of its obligations by not providing him with the information, he said.

Earlier this month, The Washington Post reported that Twitter would yield to Mr Musk's demands, but it appears the issue is yet to be resolved.

"We're still awaiting resolution on that matter, and that is a very significant matter," he said at the Qatar event, reiterating doubts over Twitter's claims that false or spam accounts represented fewer than 5 per cent of its monetisable daily active users.

"And then of course, there's the question of, will the debt portion of the round come together? And then will the shareholders vote in favour?"

Mr Musk confirmed during a meeting with Twitter staff last week that he wants to have at least one billion people on Twitter, from 229 million at present. However, there was little clarity on how the deal to buy the social media platform was progressing.

He did say he would focus on “driving the product” at Twitter and doesn’t necessarily plan to be chief executive at the company.

  • Mr Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California, in 2014. Reuters
    Mr Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California, in 2014. Reuters
  • Tesla and SpaceX founder Elon Musk. Getty Images
    Tesla and SpaceX founder Elon Musk. Getty Images
  • Mr Musk with music producer Quincy Jones. AFP
    Mr Musk with music producer Quincy Jones. AFP
  • The wealthiest person in the world with a worth of $274.3 billion, Mr Musk was named 'Person of the Year' by 'Time' magazine in 2021. Getty Images
    The wealthiest person in the world with a worth of $274.3 billion, Mr Musk was named 'Person of the Year' by 'Time' magazine in 2021. Getty Images
  • Focus on Mr Musk's taxes grew last year as Tesla achieved a rarefied $1 trillion in market value. Reuters
    Focus on Mr Musk's taxes grew last year as Tesla achieved a rarefied $1 trillion in market value. Reuters
  • The billionaire has hit back, saying he does not draw a salary from either SpaceX or Tesla, and pays an effective tax rate of 53 per cent on stock options he exercises. AFP
    The billionaire has hit back, saying he does not draw a salary from either SpaceX or Tesla, and pays an effective tax rate of 53 per cent on stock options he exercises. AFP
  • Then US president Barack Obama speaks to Mr Musk on a tour of Cape Canaveral Air Force Station in Cape Canaveral, Florida, in 2010. Reuters
    Then US president Barack Obama speaks to Mr Musk on a tour of Cape Canaveral Air Force Station in Cape Canaveral, Florida, in 2010. Reuters
  • Mr Musk during a television interview after Tesla's initial public offering at the Nasdaq market in New York, in 2010. Reuters
    Mr Musk during a television interview after Tesla's initial public offering at the Nasdaq market in New York, in 2010. Reuters
  • With former wife Talulah Riley at the 2011 Orange British Academy Film Awards in London. Getty Images
    With former wife Talulah Riley at the 2011 Orange British Academy Film Awards in London. Getty Images
  • With Japan's former prime minister Shinzo Abe after a test drive of the Tesla Model S P85D in Palo Alto, California, in 2015. Reuters
    With Japan's former prime minister Shinzo Abe after a test drive of the Tesla Model S P85D in Palo Alto, California, in 2015. Reuters
  • Mr Musk during the 67th International Astronautics Congress in Guadalajara, Mexico, in 2016. EPA
    Mr Musk during the 67th International Astronautics Congress in Guadalajara, Mexico, in 2016. EPA
  • From left: SpaceX chief executive Elon Musk, Corning chief executive Wendell Weeks, then US president Donald Trump and Johnson & Johnson chief executive Alex Gorsky during a meeting at the White House. AFP
    From left: SpaceX chief executive Elon Musk, Corning chief executive Wendell Weeks, then US president Donald Trump and Johnson & Johnson chief executive Alex Gorsky during a meeting at the White House. AFP
  • Mr Musk and former wife Grimes at The Metropolitan Museum of Art in New York City, in 2018. AFP
    Mr Musk and former wife Grimes at The Metropolitan Museum of Art in New York City, in 2018. AFP
  • Mr Musk leaves a court in New York City, in 2019, after a hearing in a lawsuit brought against him by the US Securities and Exchange Commission. Getty Images
    Mr Musk leaves a court in New York City, in 2019, after a hearing in a lawsuit brought against him by the US Securities and Exchange Commission. Getty Images
  • A prototype of SpaceX's Starship spacecraft is seen before Mr Musk gives an update on the company's Mars rocket Starship in Boca Chica, Texas, in 2019. Reuters
    A prototype of SpaceX's Starship spacecraft is seen before Mr Musk gives an update on the company's Mars rocket Starship in Boca Chica, Texas, in 2019. Reuters
  • Mr Musk at the construction site of the Tesla Gigafactory in Gruenheide, near Berlin, Germany, last year. EPA
    Mr Musk at the construction site of the Tesla Gigafactory in Gruenheide, near Berlin, Germany, last year. EPA
  • Dancing onstage during a delivery event for Tesla's China-made Model 3 cars in Shanghai. Reuters
    Dancing onstage during a delivery event for Tesla's China-made Model 3 cars in Shanghai. Reuters
  • Mikey Day as a lawyer, Cecily Strong as a judge, and host Elon Musk as Wario during the "Wario" sketch on NBC's 'Saturday Night Live', in May. Getty Images
    Mikey Day as a lawyer, Cecily Strong as a judge, and host Elon Musk as Wario during the "Wario" sketch on NBC's 'Saturday Night Live', in May. Getty Images
  • Mr Musk with Armin Laschet, CDU party federal chairman and prime minister of Germany's North Rhine-Westphalia, talk during a tour of the plant of the future foundry of the Tesla Gigafactory in Grünheide, near Berlin, Germany. Getty Images
    Mr Musk with Armin Laschet, CDU party federal chairman and prime minister of Germany's North Rhine-Westphalia, talk during a tour of the plant of the future foundry of the Tesla Gigafactory in Grünheide, near Berlin, Germany. Getty Images

Tesla job cuts

Staffing issues at electric vehicle maker Tesla have also been making headlines.

As well as telling employees to return to the workplace or leave the company, Mr Musk said earlier this month that he wanted to cut about 10 per cent of jobs.

Tesla employed about 100,000 people at the end of 2021, according to its annual filing with the US Securities and Exchange Commission.

“Tesla is reducing its salaried workforce roughly 10 per cent over the next three months or so,” Mr Musk said at the forum on Tuesday.

“We expect to grow our hourly workforce. We grew very fast on the salaried side, grew a little too fast in some areas.”

He added that the cuts will result in an overall reduction of 3 per cent to 3.5 per cent in total headcount at Tesla, as hourly staff numbers are still expected to grow.

On Tesla's supply chain problems, he said: “As anyone knows who has tried to order a Tesla, the demand for our cars is extremely high and the wait list is long. This is not intentional and we’re increasing production capacity as fast as humanly possible.”

Economy and US recession

In an email sent to Tesla staff a few weeks ago, seen by Reuters, Mr Musk said he had a "super bad feeling" about the economy.

Inflation in the US touched a fresh 40-year high last month, prompting the US Federal Reserve to raise its target interest rate by three quarters of a percentage point, the biggest increase since 1994.

The move has led to fears of an economic slowdown in the world's biggest economy.

Mr Musk told the forum a recession in the US is inevitable at some point.

"As to whether there is a recession in the near-term, that is more likely than not.”

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New Zealand 229-7 (90 ov)
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New Zealand won the toss and elected to bat

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List of alleged parties

 

May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff 

May 20, 2020: They attend 'bring your own booze party'

Nov 27, 2020: PM gives speech at leaving party for his staff 

Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson 

Dec 13, 2020: PM and his wife throw a party

Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters 

Dec 15, 2020: PM takes part in a staff quiz 

Dec 18, 2020: Downing Street Christmas party 

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Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

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10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

RESULTS

1.30pm Handicap (PA) Dh 50,000 (Dirt) 1,400m

Winner AF Almomayaz, Hugo Lebouc (jockey), Ali Rashid Al Raihe (trainer)

2pm Handicap (TB) Dh 84,000 (D) 1,400m

Winner Karaginsky, Tadhg O’Shea, Satish Seemar.

2.30pm Maiden (TB) Dh 60,000 (D) 1,200m

Winner Sadeedd, Ryan Curatolo, Nicholas Bachalard.

3pm Conditions (TB) Dh 100,000 (D) 1,950m

Winner Blue Sovereign, Clement Lecoeuvre, Erwan Charpy.

3.30pm Handicap (TB) Dh 76,000 (D) 1,800m

Winner Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.

4pm Maiden (TB) Dh 60,000 (D) 1,600m

Winner Bladesmith, Tadhg O’Shea, Satish Seemar.

4.30pm Handicap (TB) Dh 68,000 (D) 1,000m

Winner Shanaghai City, Fabrice Veron, Rashed Bouresly.

Updated: June 21, 2022, 12:42 PM