Elon Musk has sold nearly $7 billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter.
Musk disclosed in series of regulatory filings that he unloaded about 8 million shares of his company Tesla Inc. in recent days.
"In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock," he said in a tweet late on Tuesday.
Musk is by far the largest individual shareholder in both Tesla and Twitter.
Shares of Tesla rose 4% to close Wednesday at $883.07. Shares of Twitter Inc. jumped 3.7% to close at $44.43, and are up 36% since July 11, with most believing Musk faces long-shot odds of success in court.
Musk countersued Twitter last week, accusing the company of fraud over his aborted $44 billion acquisition. He claimed that Twitter held back critical information and misled his team about the size of its user base.
Musk alleges that Twitter committed fraud, breach of contract and violation of a securities law in Texas, where Musk lives.
Musk offered to buy Twitter earlier this year, then tried to back out of the deal claiming the social platform was infested with a larger numbers of “spam bots” and fake accounts than Twitter had disclosed.
Musk said in the spring that he planned no major sales of his stake in Tesla after lining up financing to acquire Twitter, but Dan Ives, an industry analysts with Wedbush, said Wednesday that “the situation has dramatically changed.”
Wedbush raised it's target price for shares of Twitter, “With the chances of a Twitter deal now more likely in our opinion and the Street seeing through this poker move by Musk,” Ives wrote to clients.
“We can also see Musk trying to resolve this powder keg situation before the Twitter deal officially heads to court in October,” Ives wrote. “At a minimum, we see Twitter getting a massive settlement from Musk in the $5 billion to $10 billion range that is starting to be factored into the stock.”
The United States told the Group of Seven foreign ministers on Friday that it received 'last minute' information from Israel about a drone action in Iran, but didn't participate in the apparent attack, officials said.
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
A woman who recently moved to Canada from India was searching for a job when she got caught in an online job scam and lost $15,000.
More money will land in the pockets of some Canadian families on Friday for the latest Canada Child Benefit installment.
The World Health Organization and around 500 experts have agreed for the first time on what it means for a disease to spread through the air, in a bid to avoid the confusion early in the COVID-19 pandemic that some scientists have said cost lives.
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict.
An apparent Israeli drone attack on Iran saw troops fire air defences at a major air base and a nuclear site early Friday morning near the central city of Isfahan, an assault coming in retaliation for Tehran's unprecedented drone-and-missile assault on the country.
Canadian banks that refuse to identify the carbon rebate by name when doing direct deposits are forcing the government to change the law to make them do it, says Environment Minister Steven Guilbeault.
A large seine fishing vessel capable of casting a net strong enough to hold a nearly 700-kilogram killer whale calf has arrived in Zeballos, B.C., to participate in the latest attempt to rescue the young orca stranded in a remote tidal lagoon.
The RCMP says a 'dangerous man' with a firearm in Bible Hill, N.S., is in custody Friday morning.
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
A Facebook Marketplace seller is being ordered by B.C.'s small claims tribunal to repay hundreds of dollars after selling a product under false advertising.
B.C.'s highest court has dismissed an appeal by an RCMP officer who was found guilty of sex crimes involving teen girls, upholding his conviction.
Some residents in rural New Brunswick are frustrated with cows that roam into their properties.
The United States told the Group of Seven foreign ministers on Friday that it received 'last minute' information from Israel about a drone action in Iran, but didn't participate in the apparent attack, officials said.
An Assyrian church bishop who was stabbed during a service at his church said on Thursday he was recovering quickly, and that he had forgiven his attacker as police ramped up investigation into the riots triggered after the bishop's stabbing.
A human rights organization representing ethnic Armenians submitted evidence to the ICC, arguing that Azerbaijan is committing an ongoing genocide against them.
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Kenya's military chief, Francis Ogolla, died in a helicopter crash in the western part of the country on Thursday, President William Ruto announced in a televised address.
A Nigerian chess champion and child education advocate is attempting to play chess nonstop for 58 hours in New York City's Times Square to break the global record for the longest chess marathon.
Cabinet minister Dominic LeBlanc says he plans to run in the next election as a candidate under Prime Minister Justin Trudeau's leadership, amid questions about his rumoured interest in succeeding his longtime friend for the top job.
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Canadian banks that refuse to identify the carbon rebate by name when doing direct deposits are forcing the government to change the law to make them do it, says Environment Minister Steven Guilbeault.
The World Health Organization and around 500 experts have agreed for the first time on what it means for a disease to spread through the air, in a bid to avoid the confusion early in the COVID-19 pandemic that some scientists have said cost lives.
The premier of British Columbia is continuing to defend the three-year pilot program underway in his province that’s decriminalized personal possession of hard drugs, even as the federal government sends its minister responsible to discuss growing concerns and controversies.
As the United States sets its first national limits on toxic forever chemicals in drinking water, researchers say Canada is lagging when it comes to regulations.
An ancient giant snake in India might have been longer than a school bus and weighed a tonne, researchers reported Thursday.
Facebook parent Meta Platforms unveiled a new set of artificial intelligence systems Thursday that are powering what CEO Mark Zuckerberg calls 'the most intelligent AI assistant that you can freely use.'
New archeological investigations in Guatemala reveal that the ancient Maya people had a ritual of burning royal human remains as a public display of political regime change.
On Friday, the pop star released her 11th album and at 2 a.m. Eastern, she released "The Tortured Poets Department: The Anthology," featuring 15 additional songs.
Rare is the movie that can ride the line between scatological and sublime, absurdist and acute.
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Google has fired 28 employees in the aftermath of protests over technology that the internet company is supplying the Israeli government amid the Gaza war, further escalating tensions surrounding a hot-button deal.
As Canada's biggest bookstore-turned-gift-giver's-paradise edges toward privatization, it's evident from a stroll around one of its Toronto stores that the retailer knows some things haven't been working.
Booming sales of cold drinks at Starbucks have created a problem: growing amounts of plastic waste from the single-use cups that Frappuccinos, Refreshers, cold brews and other iced drinks are served in.
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.
Ten beagles rescued from animal testing in the United States arrived in Alberta on Wednesday, thanks to a Canadian charity.
Nelly Korda, who is looking to tie an LPGA Tour record with her fifth straight win, shot a 4-under 68 on Thursday in the opening round of the Chevron Championship, leaving her two shots behind leader Lauren Coughlin in the year's first major.
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
The NHL Board of Governors voted unanimously Thursday to clear the way for the Coyotes' move to Utah next season.
Tesla will ask shareholders to reinstate a US$55 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year and to move the electric car maker's corporate home from Delaware to Texas.
Tesla has hit a series of roadblocks, including increased competition and declining sales. The company announced Monday it is slashing 10 per cent of its global workforce.
A driver from London will have to find alternative transportation after an OPP officer clocked them travelling nearly 200 km/h on Highway 401 over the weekend.
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.
Molly Knight, a grade four student in Nova Scotia, noticed her school library did not have many books on female athletes, so she started her own book drive in hopes of changing that.
Almost 7,000 bars of pure gold were stolen from Pearson International Airport exactly one year ago during an elaborate heist, but so far only a tiny fraction of that stolen loot has been found.
When Les Robertson was walking home from the gym in North Vancouver's Lower Lonsdale neighbourhood three weeks ago, he did a double take. Standing near a burrow it had dug in a vacant lot near East 1st Street and St. Georges Avenue was a yellow-bellied marmot.
A moulting seal who was relocated after drawing daily crowds of onlookers in Greater Victoria has made a surprise return, after what officials described as an 'astonishing' six-day journey.
Just steps from Parliament Hill is a barber shop that for the last 100 years has catered to everyone from prime ministers to tourists.
A high score on a Foo Fighters pinball machine has Edmonton player Dave Formenti on a high.
A compound used to treat sour gas that's been linked to fertility issues in cattle has been found throughout groundwater in the Prairies, according to a new study.
Metro Vancouver Transit Police say a young offender has been charged with four counts of robbery in relation to incidents that occurred at a Burnaby transit hub over the course of a year.
A Facebook Marketplace seller is being ordered by B.C.'s small claims tribunal to repay hundreds of dollars after selling a product under false advertising.
A large seine fishing vessel capable of casting a net strong enough to hold a nearly 700-kilogram killer whale calf has arrived in Zeballos, B.C., to participate in the latest attempt to rescue the young orca stranded in a remote tidal lagoon.
A woman who recently moved to Canada from India was searching for a job when she got caught in an online job scam and lost $15,000.
More money will land in the pockets of some Canadian families on Friday for the latest Canada Child Benefit installment.
He was a loving son and brother, a loyal and kind friend, and a dedicated volunteer in Toronto’s east end, say those who knew and loved Mohammad Khasim.
Mayor Jyoti Gondek is expected to share her thoughts on Calgary's rezoning plan – one of the most contentious issues to face the city in recent years.
Calgary police say Winston Campbell, 45, has been charged in the death of a two-year-old girl in 2022.
Science students at the University of Calgary use their roof top greenhouse to conduct all kinds of projects and had a little extra space that wasn't being used. so some of them came up with the idea of growing food for the campus food bank.
Ontario Provincial Police are reminding people that it is illegal to fly a drone over traffic collision sites, after drone footage captured over a fatal crash on Hwy. 417 in Ottawa appeared online.
Statistics available on the Ottawa Police Service's crime map shows there have been 560 vehicle thefts reported across Ottawa since Jan. 1. Police reported 504 vehicles stolen in the first six months of 2023, and 387 vehicle thefts between Jan. 1 and June 30, 2022.
Ontario Provincial Police responded to the single-vehicle crash on Highway 401 at West North Augusta Road early Friday morning.
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Those driving in and around Montreal on the weekend should be aware that construction work will result in some major route closures.
The English Montreal School Board (EMSB) is celebrating what it calls a 'significant win' in court after a judge stayed parts of Quebec's language laws that apply to English school boards across the province.
Valeri Nichushkin scored twice, Nathan MacKinnon added two assists to break the franchise’s single-season points mark and the Colorado Avalanche cruised into the playoffs behind a 5-1 win over the Edmonton Oilers on Thursday night.
The health and environmental benefits of protecting a region from light pollution are already well established, and one only has to look at the stream of visitors to the Jasper Dark Sky Festival or the Alberta's newest dark sky preserve in Lakeland Provincial Park to get a sense of how "astrotourism" can boost rural economies.
More money will land in the pockets of some Canadian families on Friday for the latest Canada Child Benefit installment.
The RCMP says a 'dangerous man' with a firearm in Bible Hill, N.S., is in custody Friday morning.
As predicated, gas prices increased overnight in the Maritimes, though the price of diesel decreased by a few cents.
Canadian banks that refuse to identify the carbon rebate by name when doing direct deposits are forcing the government to change the law to make them do it, says Environment Minister Steven Guilbeault.
In southern Manitoba, members of Winnipeg Search and Rescue (WINSAR) remain vigilant as they assist in finding a missing Manitoban.
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
The City of Winnipeg is finally moving ahead with a plan to clear away a large pile of debris on a private lot.
On Thursday, Education Minister Jeremy Cockrill apologized for remarks he made to a mother who had advocated for better classroom supports earlier this week.
With the Canadian Dental Care Plan (CDCP) set to roll out on May 1, many dental care providers have concerns and unanswered questions about the plan.
Chris Ross was pleasantly surprised when Tim Hortons sent him an email summarizing his "Roll up the Rim" winnings for the season. The email claimed Ross had won a boat valued at over $50,000 – but it was a mistake.
A property management company in Fergus is still cleaning up after they say a tenant trashed one of their units and refused to pay rent -- and they say it's not the only similar case they've dealt with recently.
Gas prices across Ontario have spiked to levels not seen in nearly two years as the switch from winter fuel to a more expensive summer blend pushes the price at the pumps.
Don’t be alarmed if you see some strange new creatures in Waterloo Park.
Saskatchewan Teachers' Federation (STF) President Samantha Becotte says two days of "difficult" negotiations has led to a "final offer" with slight improvements to salary and the inclusion of a line in the collective agreement – promising to address classroom complexity issues.
The Saskatoon Police Service (SPS) is dedicating three officers to a specialized unit to help curb crime in the Pleasant Hill neighbourhood.
A Saskatchewan village and a contractor it hired are facing significant fines after conservation officers discovered they dumped demolition waste at an illegal landfill.
One person has died as the result of a single-vehicle crash at a northern Ontario business on Highway 17 on Thursday afternoon, police say.
More money will land in the pockets of some Canadian families on Friday for the latest Canada Child Benefit installment.
A woman who recently moved to Canada from India was searching for a job when she got caught in an online job scam and lost $15,000.
According to police, there was “significant damage” to the hydro pole, causing a power outage to the surrounding areas.
A Lucan man is facing a number of charges after police said they recovered a stolen truck.
A jury heard some horrific evidence Thursday at the trial of a London, Ont. couple charged with physically and sexually abusing their children.
Person airlifted to Toronto after a rollover on Highway 400 Friday morning.
CAA's Worst Roads campaign ensures municipalities know which roads its residents feel need rapid improvement.
One person suffered life-threatening injuries after a collision with a commercial vehicle on Highway 12 at Forest Avenue in Orillia early Thursday afternoon.
Windsor police are asking the public to keep an eye out for a man last seen in the downtown area.
Police said a person went to a market in the 2100 block of Huron Church Road near McKay Avenue and left the store without paying for about $200 worth of items.
Windsor police have located an 82-year-old man.
A large seine fishing vessel capable of casting a net strong enough to hold a nearly 700-kilogram killer whale calf has arrived in Zeballos, B.C., to participate in the latest attempt to rescue the young orca stranded in a remote tidal lagoon.
A Facebook Marketplace seller is being ordered by B.C.'s small claims tribunal to repay hundreds of dollars after selling a product under false advertising.
Nikita Chibrikov scored the game-winner in his NHL debut and Cole Perfetti tallied a pair of goals as the Winnipeg Jets defeated the Vancouver Canucks 4-2 to close out their regular seasons on Thursday.
A banana ball python that was stolen from a Kelowna pet store on Saturday has been returned unharmed, Mounties said.
Nurses held a rally Wednesday at a hospital in the B.C. Interior that closed its emergency department more than a dozen times last year due to insufficient staff.
British Columbia is planning to add 240 new units to its complex-care housing program, providing homes for people with mental-health and addictions challenges that overlap with other serious conditions.
Three men who helped lead and co-ordinate the 2022 border blockade at Coutts, Alta., have been found guilty of public mischief.
Lethbridge police have arrested a Vermilion, Alta., man in connection with a 'grandparent scam' that took aim at a local senior.
An Alberta woman was killed in a multi-vehicle crash on a highway north of Coaldale, Alta., on Wednesday morning.
One person has died as the result of a single-vehicle crash at a northern Ontario business on Highway 17 on Thursday afternoon, police say.
A 65-year-old northern Ontario woman says her winning lottery scratch ticket is the best present she has ever received.
A northern Ont. city councillor says she fears many women will go without the proper health care after town loses access to mobile cancer screening.
Technology from the 19th century has been brought out of retirement at a Newfoundland gardening store, as staff look for all the help they can get to fill orders during a busy season.
A Celebrity Apex cruise to the Caribbean this month turned into a rocking Newfoundland kitchen party when hundreds of people from Canada's easternmost province happened to be booked on the same ship.
A pricing agreement has been reached between crab fishers and seafood processors that will allow for Newfoundland and Labrador's annual crab fishery to get started.
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