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Musk sells nearly $7b in Tesla stock

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Tesla CEO Elon Musk has sold 7.92 million Tesla shares, worth nearly $7bn

Tesla CEO Elon Musk has sold 7.92 million in $TSLA shares, worth around $6.99bn USD.

The transactions were given the go ahead between August 5-9, according to financial files released.

The deal was announced shortly after the electric carmakers 2022 annual shareholder meeting.

Musk approved the sale, despite earlier promises that “no further Tesla sales” were planned.

“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,” 

Elon Musk

His followers are still waiting for further explanation about the unannounced deal and what it means for the company moving forward.

However, this latest announcement comes amid some broader market woes and just weeks after Musk scrapped his $44 billion takeover of Twitter.

Holly is an anchor and reporter at Ticker. She's experienced in live reporting, and has previously covered the Covid-19 pandemic on-location. She's passionate about telling stories in business, climate and health.

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Puerto Rico rebuilds after Hurricane Fiona; Florida continues search and rescue operations after Hurricane Ian

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The 2022 Atlantic Hurricane season isn’t over until November 1

U.S. President Joe Biden and First Lady Jill jetted off to Puerto Rico on Monday.

The president pledged $60 million in federal funding for the island which was ravaged by hurricane Fiona weeks ago.

“We’re with you, I mean it—all of America’s with you as you receive and recover and rebuild,” he said.

“We’re investing in Puerto Rico’s roads, bridges, public transit, ports, airports, water safety and high-speed Internet.

Meanwhile, back on the U.S. mainland down in Florida Governor Ron DeSantis talked about the search and rescue operations that continue after Florida’s southwestern coast was hit last week by Hurricane Ian.

“So far we’ve had more than 1,900 rescues with more than 1,000 personnel having gone door-to-door to 65 different structures to check on occupants and those are mostly structures in the really hard head areas—the barrier islands and the like.”

Gov. DeSantis added that their division of emergency management is continuing to bring large quantities of water, food, and other substances into the area to help everybody get by.

He said, “we’re also distributing tarps for the roofs—although I will tell you one thing, I’ve noticed the new construction in Florida seemed to have held up very well.”

Florida’s office of emergency management says about half of a million residents are still without power—and that they are working to restore it by Sunday.

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Ex-military contractor escapes house arrest

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Mastermind of the largest corruption scandal in US Navy history is on the run after cutting of his ankle bracelet

A former military contractor who was at the centre of the largest corruption scandal in U.S. Navy history, has escaped house arrest.

It comes just three weeks before he was set to face sentencing.

The fugitive, known to many as “Fat Leonard”, pleaded guilty to bribery and fraud charges in 2015.

He bribed U.S. Navy officials with cash, prostitutes, and all-expenses paid trips, in exchange for access to military intelligence, earning him millions.

According to authorities, when police arrived at Francis’ home, all that they found was an ankle bracelet he had cut off and left in a portable cooler.

This all comes as the U.S. Military is reporting a 13 per cent spike in the number of sexual assaults last year.

It’s understood 36,000 service members had experienced unwanted sexual assault, with the Army reporting its largest spike in nearly a decade.

Despite this, the Pentagon says it is working to stamp out this poor behaviour.

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Another tanker got stuck in the Suez Canal – here’s the rescue mission

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Another ship got stuck in the Suez Canal

A crude oil tanker has been re-floated after blocking the famous Canal in Egypt.

According to a spokesman for Suez Canal Authority… the Affinity-V vessel became stuck in a single-lane stretch of the canal – but not as long as the last giant tanker of 20-21 that we all remember

The Affinity was refloated after tugboats were deployed to assist.

Affinity V was floating again about five hours later, authority spokesperson George Safwat said. 

Affinity V was travelling from Portugal to Saudi Arabia’s Red Sea port of Yanbu.

It’s unclear how much oil the Singaporean-flagged ship was carrying, but ABC reported it has a capacity to carry more than 110,000 tonnes. 

It’s been 18 months since the Ever Given container ship blocked the canal for six days.

The blockage created a massive traffic jam that held up 9 billion a day in global trade.

Thankfully… the Affinity isn’t in the same boat.

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