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On August 24th, Nikkei reported that the Japan Green Transition Accelerator (GX) has invested a total of 20 billion yen (approximately US$125 million) in public-private partnership funding for two startups focused on nuclear fusion and plastic recycling. This investment is part of a broader Japanese government plan to inject 370 trillion yen (over US$2.3 trillion) in public and private funds into 17 strategic sectors by fiscal year 2040, a key pillar of Prime Minister Sanae Takaichis growth and decarbonization strategy. The two companies being invested in are Kyoto Fusion Engineering Co., Ltd. and Jeplan Corporation. Details of the investment are expected to be announced soon. Japan hopes to encourage more private sector investment and accelerate the commercialization of advanced technologies by providing public capital.According to Nikkei Asia: Japan is providing $125 million in support to nuclear fusion and recycling startups through a public-private partnership fund.On August 24, according to Irans official news agency IRNA on August 23, Iranian President Pezechzian stated at an event in Tehran on the evening of August 22 that members of Irans Supreme National Security Council all believed that the memorandum of understanding previously reached with the United States was the best solution based on dignity, wisdom, and national interests. The memorandum "contains no clause indicating Irans surrender or concessions," and all related commitments were to be fulfilled by the other side. However, Iran should also rationally extricate itself from its current state of "neither war nor peace," as it is difficult for Iran to attract investment in such a state. He also mentioned that the late Supreme Leader Ali Khamenei had clearly stated the necessity of moving away from this "neither war nor peace" state. Pezechzian further stated that Supreme Leader Mojtaba Khamenei formulated national policies, and the government will continue to advance related work in accordance with these policies.August 24 - The Hawke Fire, a wildfire in the suburbs of Reno, northern Nevada, spread rapidly from the foothills of the Sierra Nevada Mountains toward downtown Reno early this morning, burning more than 10,500 acres and issuing mandatory evacuation orders to nearly 14,000 residents.August 24th - According to a report from the U.S. Central Command on August 23rd, the U.S. guided-missile destroyer USS John Finn is currently sailing in the Arabian Sea, carrying out the U.S. maritime blockade mission against Iran. As of August 23rd, the U.S. military has ordered 70 merchant ships to change course, rendered 3 merchant ships immobile, and boarded and inspected 2 other merchant ships.

Musk's Twitter Antics Raise Worries About Distraction and Tesla Stock Sales

Charlie Brooks

Apr 15, 2022 10:02

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Tesla watchers are concerned about Musk attempting to clinch the transaction, maybe by selling even more of his Tesla stock, and then controlling yet another firm.


"Elon is preoccupied. He has a lot going on. He is active in a variety of projects, "Gene Munster, managing partner of Loup Ventures, a venture capital company that holds Tesla stock, said. "This will have a one to three month negative impact on Tesla's stock."


Tesla, the world's most valuable carmaker, has lost more than 9% of its value since Musk announced his more than 9% holding in Twitter on Monday. Tesla's shares dipped 3.7 percent on Thursday.


While Musk has discussed possible improvements he would want to see on Twitter, Tesla confronts its own obstacles, experts noted, including the need to ramp up production at new assembly factories in Berlin and Texas. Meanwhile, Tesla's Shanghai facility - the company's biggest - has been shut down because of China's COVID-19 crackdown.


"Musk is Tesla, and investors do not want Tesla to lose its leading position," Roth Capital Partners analyst Craig Irwin said.


And investors' suspicions are based on Musk's own remarks previous to this venture. He previously said that he worked seven days a week – "crazy hours" – dividing his time between Tesla and SpaceX last year. He is also the founder of Neuralink, a brain-chip firm, and the Boring Company, a tunneling enterprise.


Another source of concern is Musk's ability to fund a hypothetical Twitter acquisition, which would entail stock sales and hefty borrowing, experts said.


According to Wells Fargo (NYSE:WFC) analyst Colin Langan, Musk would need $39 billion to complete the acquisition, and the selling of further Tesla shares might further impact the price.


Tesla executives may pledge their business stock as collateral for loans, but the maximum loan amount is limited to 25% of the entire value of the pledged shares.


This implies he could borrow $42.5 billion by pledging all of his $170 billion-worth shares. However, according to a Tesla filing last year, Musk has previously committed nearly half of his Tesla shares as security to satisfy some personal liabilities.


Musk said on Thursday that he had the assets necessary to acquire Twitter, but did not elaborate.


The world's wealthiest person's fortune consists mostly of Tesla and SpaceX shares. Late last year, he sold almost $16 billion worth of Tesla stock, $11 billion of which he said will be paid in taxes.


"He is possibly exposing himself to a massive lawsuit down the line," said Howard Fischer, a partner at the law firm Moses & Singer and a former senior trial counsel at the Securities and Exchange Commission in the United States.


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