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3 weeks ago | 
news.bloomberglaw.com | Jeannine Amodeo |Kurt Wagner
Elon Musk is selling $5 billion in debt for his artificial intelligence startup, xAI Corp., the latest in a series of fundraising efforts across his business empire as the billionaire pivots away from politics and returns to running his various companies. Morgan Stanley is shopping the debt for xAI with a double-digit interest rate, according to people familiar with early pricing discussions.
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3 weeks ago | 
news.bloomberglaw.com | Joshua Sisco |Kurt Wagner
The US Federal Trade Commission is investigating whether more than a dozen media and advertising groups have illegally colluded to boycott online content alleged to be hateful, false or misleading, according to people familiar with the matter and a document seen by Bloomberg News.
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3 weeks ago | 
news.bloomberglaw.com | Jeannine Amodeo |Kurt Wagner
Elon Musk is selling $5 billion in debt for his artificial intelligence startup, xAI Corp., the latest in a series of fundraising efforts across his business empire as the billionaire pivots away from politics and returns to running his various companies. Morgan Stanley is shopping the xAI debt, according to a person familiar with the matter, which could help Musk continue to spend aggressively on AI infrastructure as he builds out a massive data center in Memphis.
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2 months ago | 
news.bloomberglaw.com | Kurt Wagner |Sabrina Willmer
Tech executives from major social media networks like TikTok, X, Reddit, Pinterest and Discord have appeared in federal court over the past week as part of the US Federal Trade Commission’s antitrust trial against Meta Platforms Inc. Meta believes they are competitors. The FTC disagrees. The fight to legally define the social networking market has taken center stage at the trial, which is in its third week in Washington.
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2 months ago | 
news.bloomberglaw.com | Joshua Sisco |Kurt Wagner
Mark Zuckerberg, the first witness in the Federal Trade Commission’s trial to break up his social media empire, gave a rare window into how he makes business decisions: by fighting for survival, even when his company is ahead. Over a marathon three days of testimony, the Meta Platforms Inc.
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2 months ago | 
news.bloomberglaw.com | Joshua Sisco |Kurt Wagner
Mark Zuckerberg in federal court Monday was forced to revisit a time when he doubted Facebook would be able to compete in mobile photo-sharing, and decided to buy Instagram — testifying in a trial where the US government is arguing it should unwind that acquisition. Meta Platforms Inc.’s Zuckerberg kicked off a highly anticipated trial that’s been years in the making, where the US Federal Trade Commission is setting out to prove he bought his way to a social networking monopoly.
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2 months ago | 
news.bloomberglaw.com | Kurt Wagner |Joshua Sisco
Mark Zuckerberg returned to federal court on Tuesday to answer questions about his acquisitions of Instagram and WhatsApp, which are at the center of a federal antitrust lawsuit that seeks to unwind the deals more than a decade after they were completed. The Meta Platforms Inc.
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2 months ago | 
news.bloomberglaw.com | Joshua Sisco |Kurt Wagner |Riley Griffin
Mark Zuckerberg’s well-timed acquisitions of Instagram and WhatsApp, in 2012 and 2014 respectively, helped his social media empire reach billions of people. More than a decade later, the US Federal Trade Commission is targeting those deals in a landmark antitrust lawsuit set to go to trial Monday, alleging that the acquisitions were illegal, should never have been approved and should be broken up.
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Mar 18, 2025 | 
news.bloomberglaw.com | Kurt Wagner |Devon Pendleton
Musk “expressed willingness” to buy more shares, filing showsMusk initially purchased X for $44 billion including debtElon Musk invested $150 million to acquire more shares in X last year at a valuation approaching the price he paid for the company’s equity in 2022. Musk, who’s the majority shareholder of the company, has also “expressed willingness” to buy more minority stakes at the same valuation, according to Kingdom Holding Co.’s 2024 annual report.
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Mar 18, 2025 | 
news.bloomberglaw.com | Kurt Wagner |Devon Pendleton
Elon Musk invested $150 million to acquire more shares in X last year at a valuation approaching the price he paid for the company’s equity in 2022. Musk, who’s the majority shareholder of the company, has also “expressed willingness” to buy more minority stakes at the same valuation, according to Kingdom Holding Co.’s 2024 annual report. The Saudi investment firm has been a shareholder of X since 2011, when it was still known as Twitter.
