ladies and gentlemen, elon musk! _ musk is an innovator with a primetime profile.impression of elon musk is probably coloured by his public demeanour more than anything else. to anyone i've offended, ijust want to say — i reinvented electric cars and i'm sending people to mars in a rocket ship. cheering. did you also think i was going to be a chilled normal dude? his space exploration company wants to colonise the cosmos. back on earth, musk runs tesla — the world's most valuable car company. if you think of what is the future automobile, most folks will think of tesla ? that is a really difficult thing to achieve in the market. tesla is now worth more than bmw, volkswagen, toyota, ford and general motors combined. elon musk likes to do things big. his factory here in nevada is planned to be the biggest in the world. his tesla cars, well, they are the best—selling electric vehicles on the planet. and he himself? today, he's the richest man alive. tesla hopes to sell a million electric cars this year. elon musk�*s company has become the standard bearer for the elect

let's get back to all things elon musk and tesla. elon musk selling more shares in the company.ed about 930 million dollars of tesla yesterday adding to what he already sold last week. joining us now is dani burger. how close is elon musk to selling the 10% that he promised in the twitter poll? >> he has a long way to go. he has sold around 7.3 million shares. he has more than half left to go. a lot has been made about that and the timing of the pole and if he had already planned to sell some of these. he had rearranged some of this pure he talked about in september saying he had a big bulk of options that were expiring and he wanted to exercise them. he had taxes to pay. it does appear at that this sale is part of that. this is what the aftermarket looked like for tesla. this does not think -- this does not include the most recent sale. we should get a new beat on tesla. francine: a new legal complaint was also filed yesterday. jp morgan sued tesla over unpaid warrants. what exactly is the dispute? >> it is minimum. $162 million or a trillion dollar company and a mega bank, it

we'll see whether elon musk sticks to it. what is elon musk's plan here? he doing with proceeds? elizabeth: yeah, it was something that really set twitter world alive during the week, of course, and the motivation seems to be that he's very sensitive to this discussion about the world's ultrarich hoarding unrealized gains and avoiding paying taxes, essentially. so, you could make a link to his other recent pronouncements about giving some $6 billion to the u.n. if they can prove they can alleviate hunger. so that might be a direction where this is going. but as yet, he hasn't really given much of an indication. there's also, of course, some other stuff playing out in the background with him becoming a bit of a symbol for rising inequality, and certain members of congress in the u.s. pushing for a billionaires tax. francine: so, first of all, and we'll get to the billionaires tax shortly, but how will this affect the tesla share price? elisabeth: the early indications we've had is the shares have been down between 6% and nearly 8%. but i think what's import

and elon musk hates this idea like it's paper currency.e most super wealthy people who will quietly pay off a senator behind the scenes, musk took his fight to twitter and hosted a poll asking whether he should sell 10% of his shares in tesla which would earn him about $25 billion, which he would then have to pay taxes on. and i mean even that, people, even that just shows you how wild it is to be a billionaire. you hold a poll on twitter that says, should i pay taxes? you normal people try doing that shit, the i.r.s. will be at your house, you send that tweet? what? how did elon's poll go? he's definitely paying something. >> twitter has spoken. elon musk asks millions of twitter users if he should sell 10% of his tesla shares and results are in, nearly 48% said yes, 42% said no. >> tesla down big after elon musk asked twitter users whether he should sell 10% of his stock. that's taking 4 or 4.5% out of tesla. >> trevor: yeah, because of elon's tweet tesla's stock crashed instantly which should be a lesson. you never take financial advice

we'll elon musk comply?nd sell $21 billion of tesla's -- will elon musk comply and sell $21 billion of tesla stock? this is bloomberg. ♪ haidi: honda falling in tokyo after the automaker signaled that the global chip shortage is hitting its bottom line. the company cut its forecast through march saying it now expects profit of $5.8 billion, lower than analysts average projection. berkshire has a cash pile hitting a new record in the third quarter, nearly 100 $50 billion. many other is this is bounced back from the pandemic slump, boosting operating profit to 18% , even as berkshire pours more money into stock buybacks. blackstone walked away from ground resorts with no plans for an offer for at least 18 months. the report outlines lax own view that crowd is not in an investable state and any deal is at least two years away. shery: tesla ceo elon musk asked his millions of twitter followers whether he should sell a 10 percent stake in tesla. most respondents said yes. su keenan joins us. su: we could see tesl

either elon musk as being a little bit like that isn't exactly what the guy said and iran musk on twittert are not exactly what happened, i'm still waiting for my full-service truck, self driving. that said, he's had enough and we have to have something other than a handful of billionaires whilst. kennedy: they can't find everything from the keep saying we are going to take their money and have a new deal in medicare for all and free community college, you can't pay for all of those things with this honeypot, it doesn't stretch that much and i have to say elon musk is ed rooney. david beasley is george peterson and ed rooney set produce a corpse. grandma died? produce a corpse. >> should comport the plan, i think elon is good for the money if it made sense. bill gates has done things that made sense on world hunger. kennedy: it only helps iran musk, what does he care? he's got billions of dollars. >> you go to the twitter feed of this division, they are concerned about global warming and food issues as they should be but elon musk is in the business of making global warming better in theo

interesting tactics for elon musk another reason for musk cashing in on tesla shares my a $15 billionax bill he's facing in the coming months interesting to think about what is voting elon musk to go to twitter to ask his fellow shareholders what he should do with his stake. >>> china's industry auto has reported a drop in passenger car sales with total sales coming in at 1.7 million vehicles. tesla sold just over 64,000 vehicles in china, while neo sold just over 1,700 chinese export growth beat expectations as demand heats up for the holiday season the world's second largest economy posting a global trade surplus. sam filed this report. >> reporter: china notched a record trade surplus as goods out of the country stayed strong they beat expectations thanks to a surge in shipments ahead of the holiday season but also as the situation around the energy shortage improved. economists suggest stronger exports should help mitigate elsewhere and the government may be able to hold off until next year to loosen economic policies crude oil imports fell to their lowest since september soy bean

elon musk with a 10% stake in tesla. let's start with earnings from softbank, second-quarter net loss just under ¥400 billion. division funds lost is actually 825 alien yen. the last quarter -- 825 alien yen -- billion yen. dani: also the full year dividend at ¥44. you mentioned the ¥825 billion, that considering they've swung to this loss and they are saying the investment loss is mostly due to ¥1.2 trillion in co-pay. they also saw derivatives gain on alibaba contracts. there is the push and pull of their gains and losses. manus: indeed. let's set the stage for the markets. we will get to guy johnson in a moment at heathrow. for me, it is about volatility. we can look at bond or equity vol, but this chart caught my eye. this is all the volume in all the world, it takes you back to 2008, the combined volume. let's look at the charts and put it in perspective for viewers. 55.1 2 million is the volume on friday. this is one of those things where you go oh yes, it was spiking when lehman went bust. we are at the second hig

musk too. >> the challenge is laid out there.sley, who we just heard from, he said this quote. the world is on fire. i've been warning about the perfect storm brewing due to covid. climate shocks now rising. supply chain costs. it is here, he said. describe the impact of that convergence of circumstances on world hunger. >> i think, you know, cnn did this -- of afghanistan, which was about people having to sell their daughters to put food on the table. there was another story done in madagascar. it was about children eating mud to fill their bellies. in 21st century, if we are at this stage with so much wealth, there's definitely something seriously wrong. so i don't know what more evidence we need to show that the world is in a bad place, and it is because of shocks like wars, climate crises, covid, and rising costs. food prices are up, in the u.s., elsewhere, food prices are up. inflation is up. supply chains are disrupted. fuel was, up until day before yesterday. so what does that mean to a person sitting in a place like madag

robert frank joins us with how much musk may be on the hook for.thing and let's chat about it because this is a weird story. >> it's weird but not unexpected if you've been following his compensation as i have, brian as you mentioned, 3.5 million people voted in that twitter poll 58% supported that sale of 10% of his shares in tesla musk tweeting i will abide by the results of this poll, whichever way it goes. so he's probably selling but he likely would have sold anyway and that is because he faces a tax bill of up to $15 billion. now in 2012, he was awarded a compensation plan that granted him options on 23 million shares those expire next august the strike price on those options is about $6 a share. tesla now trading at over $1,200 a share. so his gain on those options will be around $28 billion the options, they're taxed as income, and they were earned in the california so his combined federal and state tax rate on that gain is about 45%. which would mean his tax bill is going to be around $15 billion so how will he pay it? he's doesn't take a

the sale would expose elon musk to around $4 billion in u.s.apital gains taxes but also allow him to pay a $15 billion tax bill about to come due on some massively lucrative tesla stock options. the billionaire is using social media to insert himself in a political debate as democrats in the u.s. look for ways to tax the super rich, much of whose wealth exist largely in unrealized stock gains. we have the details. reporter: he has been named the world's richest man by forbes, and you might be surprised to learn he pays a little to no income taxes in the u.s.. elon musk, ceo of tesla, took to twitter over the weekend asking users whether he should make a move that would open him up to a huge tax bill. in a tweet, he asked his millions of followers he should sell 10% of his tesla stock, and 58% responded with a resounding yes. the move would earn him some $21 billion, which would be subject to a capital gains tax. the sale likely to take place no matter what. elon musk facing a tax bill of some $15 billion on stock options he is required to exerc

coming up, elon musk sells more tesla shares.he world's richest man has collected -- continues to selloff stocks? that is the million-dollar question. this is bloomberg. ♪ tom: welcome back. we are 23 minutes into the european trading day. you are flat across the benchmark europe stocks. the ftse 100. you are seeing very modest losses on the dax in germany. basic resources at the top of the list. travel and leisure at the bottom. one corporate we are focused on and a warning about china is burberry, dropping more than 8%. .4%, the fashion goods maker based in the u.k., suggesting that the covid restrictions that china has put in place really did have an impact on sales, which missed estimates. longer-term, they still see resilience in china, but nonetheless, investors taking this pretty badly. francine: it is interesting. some things we should be watching out for. investors were frustrated by the chief executives focus on cost cutting and trying to get that under control. this also comes as the chief executive is leaving in a cou

elon musk selling off another $930 million in stock yesterday. his taxes on his latest options exercise. so far he sold about $2 billion for tax withholdings he has a lot more to go there. his tax bill could end up being between 12 and $15 billion on that massive pay package that expires in august. according to the s.e.c. filings, musk has been making two kinds of sales one is for these taxes and the other is for a straight cash-out of his, let's say, $7 billion in sales last week. 5.7 billion was not related to taxes or any options now, maybe he is selling to boost his cash holdings. maybe to invest in spacex or another business or maybe just to take money off the table given the strong stock price he will have to pay federal capital gains taxes on those regular sales. musk on twitter calling it, quote, closer to tax maximization than minimization, but since he now lives in texas, which has no income tax, he does save billions from not paying any california state tax on these sales, and by selling now he might avoid that potential 8% surcharge.

and is musk really in? and it's the same argument that comes around every year, daylight savings time. it's rare to find a good one in favor of keeping it around. i'm going to see if there are any contrarians on my saturday night panel. let's get started. congress finally passed -- i say welcome to government folks. people hadn't done really anything of substantial. for example, republican glen youngkin's development on terry mcauliffe was based on something that was completely made up. it not being taught in schools in virginia or, quite frankly, anywhere else. but it certainly worked for youngkins and republicans are sure to follow his playbook next fall. his free embrace of a made-up issue is becoming a running theme for republican politics these days. no matter how wild a republican gets, there really seems to be no consequences for them. missouri senator josh hawley gave impassioned speech about how the world is supposed to be giving us a world beyond men, whatever that's supposed to me. >> when you lo

elon musk said, i forgot you were alive. a lot of teenagers bristled at the treatment of another human being, much less a u.s. senator. musk was part of big money and spacex cashes a lot of big checks due to his work with nasa. ron widen has said in the past that government officials are fascists. he's also tweeted falsehoods about taking the company private. that got him in trouble with the securities and exchange commission. >> thanks, scott. >>> when you go out to eat next time, you probably noticed this already, you're paying more than usual. restaurant costs are higher. according to the bureau of labor statistics, the price index for all foods saw its highest surge in four decades, almost 13% between september 2020 to this september. 91% of restaurant operators say that's impacting them according to a national restaurant association survey. an oakland-born chef posted some costs you might not think about. fryer oil went from $21 a year a year ago to $45, so more than double. restaurants are trying to adjust by substitut

for elon musk, he could get stung with a heavy tax bill, so what is he up to?k, this is quite controversial. should i sell some shares to pay a bit of tax. i will tell you about the vote in a second. i will give you some context surrounding the billionaires tax you are talking about. it is aimed at people just like elon musk. he is worth $300 billion but barely pays a scent of tax. he doesn't get a salary, bonuses, the only way he gets finances is by selling shares. us democrats have said that if the billionaires aren't going to pay tax because they don't get a salary, then they will have to take them on what is making them rich, which is an increase and they share prices. they call it unrealised gains. that brings us to this twitter poll that we saw yesterday. elon musk asked his followers, some 60 odd million of them are, i propose selling 10% of my tesla stock. do you support this? 3.5 million people voted. 58% said, yes, you should sell. whether it will happen or not, we will see. even so, if he did tell edward bring about $4 billion into the tax coffers of

and the trade on paypal, amc and virgin galactic ahead of tonight's earnings >>> survey says elon muskill sell 10% of shares after a twitter poll voted for the move. we will look at what else could be driving the move and what it will mean for the stock going forward. >>> before all of that let's begin with today's market with dominic chu. >> a little bit of up and down today, kelly we are near record highs, maybe no surprise there. as you can see we've seen a bit of the momentum come out of the marketplace intraday at one point we were higher across the board, we are now higher across the board again, but at the highs of the session, the s&p 500 was up about 17 points 17 handles down about three points at the lows of the session. you can see here we are tilting towards the lows of the day so far right now, just barely positive for the overall time being. 4697 for the last trade in the s&p, and the nasdaq pausing at 15,997, the last trade there one place seeing momentum in particular, stop me if you heard it before. computer chip stocks are hot and it is playing out again today. advanc

elon musk says there's no contract signed we don't know why he did it.don't know what the exact deals are. there's been no responses from hertz or tesla all this shows is how unpredictable things can be and how in this entire stock pr driven world where investor communications are so complex, how things can change on a dime. >> uh-huh. hertz did respond by the way, saying they have already began deliveries but again, your point is well taken that much is made about these announcements and then they have to deliver that is a little ncertain. you have to wait in the future speaking of that, though, i want to talk about rivian as well looking at ipo next week and this is another company i know you talk about the teenager economy and a company has large losses, just started delivering vehicles you read a lot of s1s. what did you make of rivians. >> i have written about the teenager economy this idea that you have these companies that are in their early stages or maybe a little bit mature but just been no real oversight. there's been no regulatory oversight n

another exchange musk had with ron wyden.antagonistic on twitter. >> he doesn't like writing those checks if you have a $15 billion tax bill that's actually a high class problem as we say. clearly the games are enormous and they are for him, the wealthiest man, we may have to check our math his tesla shares are down about 4%. >> yeah. >> but he's not happy about tax policy in gentle i guess and the idea that he does have these enormous gains on these options we've talked a lot about that he has to exercise by august of next year before they expire. >> he has made comments in recent months about the fact that he thinks there's been misreporting and misunderstanding around tax bills and what someone like himself pays in those. it's worth noting to your point with tesla shares down, he sold another $7 billion worth of stock last week. we'll see if those regulatory filings continue to come out from him as well for a man who i think back to our interview with governor abbott of texas not that long ago in which he cited musk came o

. >>> still ahead, elon musk's twitter stunt.sked his followers if he should sell 10% of company stock. we'll tell you what they said. (ringing) - hey kaleb, what's up? how you doing? - hey, i'm good, guess what, i just had my 13th surgery. - really? i just had my 17th surgery. - well, you beat me. - well, i am a little bit older than you. - yeah it's true. how are you doing? - i'm doing good. i'm encouraged by seeing how people are coming together to help each other during times like these. - kind of like how shriners hospitals for children is there for us. imagine if i couldn't get my surgery. who knows what would have happened. - same for me. i know my shriners hospitals family will continue to take care kids like us who need them most all because of caring people like you. - like me? - no, the people watching us right now at home. - oh, those people. hi people. - kaleb and i know not everyone can help right now, but for those of you who can, we hope you'll this special number on your screen right now. - you'll be making sure

an elon musk tweet and an 218% stock jump. a crazy tuesday in the world of electric vehicles and rental cars. we will unpack it all, next. as we head to break, let's take a look at lyft shares. up in late trading after reporting third-quarter revenue. 73% higher than last year, 73% higher than last¤kcooç;ç/■Ñ9 conditions. this is bloomberg. ♪ emily: shares of tesla dropped after a tweet from, you guessed it, elon musk. musk climbed "no -- claimed "no contract had been signed yet after hertz announced it secured a deal for 100,000 teslas." hertz told bloomberg after the tweet that the company had already started to receive cars for the tesla. it's biggest rival surged as much as 218% today. here to unravel it all, ed ludlow. deal or no deal? was there a deal or not? ed: elon musk's tweet was specific, and he was trying to get across that the deal with hertz, that they have announced formally, does not give them preferential treatment in terms of pricing for the model 3. it does not give them any special volume discount. if you

it has been said the richest man in the world, elon musk, can solve world hunger, and musk is saying this morning, prove it. the idea that a single donation of $6 billion from musk could feed the world apparently, forever, came up on tv and then took on a life of its own on social media. >> i ask any billionaire, come with me on one trip and let me show you the reality. this is not some humanitarian scheme to raismany. i want to put the world food program out of business. my god, people are dying out there. every four seconds somebody is dying out there from hunger-related causes. we have a solution, we have a vaccine for this, and it's called money. >> this idea that musk can somehow solve world hunger took on a life of his own, and the head of the world food program, david beasley, he just did not single out musk, and named others. elon musk replied, he said if the world food program could solve world hunger, i will sell. there's no question more money would help, but solve is a big reach. musk does not donate a lot to charity, a fraction of what others compared to him do. it's one

is elin -- does elon musk have the same rulebook?does, but the question is not insider information in that sense. that is what martha stewart got in trouble for. tom: is he playing by the rulebook of wall street? you have been doing this for 74 years, right? dave: it is hard to say what he is doing is outside the bounds. he is making the disclosures he has to. you can talk about whether those disclosures are sufficient, whether the timing should be different, the nature of the disclosures themselves, but to this point, he's got a whole lot of money. he has to come up with some cash to pay taxes before selling stock. that is a perfectly reasonable sort of approach. tom: david wilson, greatly appreciated their on amazon and tesla. jonathan: the ultimate troll, tom keene. those tweets out on twitter over the weekend. tom, just say what you think. he is the ultimate troll on twitter. tom: hold on. jonathan: you can't say what you think? tom: i can't. lisa: he will do it anyway. tom: they are over here. jonathan: is that compliance over t

bigger than ford if the premarket gains hold it's going to be bigger than general motors >>> elon musk making good on a promise in the twitter verse to offload a portion of his tesla stake. >>> disney under pressure after a dismal quarterly number. bank of america says it's sticking with the stock. >>> and a "worldwide exchange" exclusive with rick perry. his take on the growing european energy crisis, vladimir putin and much more happening on this thursday, november 11th, and this is "worldwide exchange. >>> good morning, good afternoon or good evening welcome from wherever in the world you may be watching i'm brian sullivan once again we are live from london you can see the london eye, the giant ferris wheel you have to check it out it's touristy, yeah, but it'sal, and you can see everything and it's a stunning day today. >>> your money, just sitting off record highs even with a draw down on wednesday. we are seeing futures higher across the board, not making too much of it nasdaq futures have turned even higher than a few minutes ago. we tell you, it's 5:00 on the east coast, not a

elon musk sold shares and suggested he might do it again over the weekend.eak down the numbers and what we can expect. we are not sure if he was being sarcastic in that tweet. kriti: the likelihood of him doing even more share sales rises. let me show you the map behind it. he exercised options rented to -- granted to him in 2012. 4.5 million options to buy stocks at a lower price. getting out of it -- selling at 30 before million and selling them using the stair sales he has to make up for the taxes. gaining $5 billion out of it. it is a pretty clear reaction over the last seven days, it has lost 80% of its value. that is not just tesla, the retail bitters, the institutional investors who followed his lead, we are seeing a tweet over the weekend in response to bernie sanders saying he might just do the share sales again. if they want me to sell more stock, bernie, say the word. is it about the options in particular? we parsed the numbers about how much he has to sell. he exercised about 9.4% of his options. about a 10th of those shares accommodate for the t

. >>> and cnbcers, you heard elon musk say, should i sell some stock and the stock went down.girl, go on and get help! [heartwarming music] (man) ah! (burke) smart dog. with farmers crashassist, our signal app can tell when you've been in a crash and can send help, if you want it. get a whole lot of something with farmers policy perks. ♪ we are farmers. bum-pa-dum, bum-bum-bum-bum ♪ at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. >>> just in on cnbc, elon musk said he would, and he just did the tesla ceo has sold more than $1.1 billion worth of tesla stock to cover a tax bill. according to financial filings, musk is selling a big chunk of tesla's shares, that from a plan he set in motion in september of this year. on saturday before the sale -- or the plan was made public, musk asked his more than 60 million twitter followers to vote on whether he should sell 10% of his stock nearly 58% voted yes, but the filings reveal mus

i'm not picking on elon musk. made extraordinary amounts of money. governments are tapped out. we have people dying. we've got an answer to this. please help us on this one-time ask. please help us. >> you're calling on billionaires, as you said, because governments are tapped out. you're at this crucial moment. describe for us the state of -- i know you said 42 million, but take it through what it is like to be one of those people. >> oh, my gosh. brianna, i go out in the field, as you know, all the time. and i remember in yemen, i was t tickling a little girl's foot. might have been a year old. it was like tickling a goat. she didn't respond. i have four children. i saw recently in madagascar, in the central americas, as well as ethiopia, sudan, the children that are emaciated, bloated, and dying from hunger. when i joined the world food program, there were 80 million people, what we say, marching toward starvation. the number spiked to 135 pre-covid because of manmade climate change. covid will come down. econo

the idea less than 2% of elon musk's net worth could help alleviate world hunger.42 starving people around the world, the plea from the head of the u.n. world food program on cnn last week. >> the billionaires need to step you of up on a one-time basis $6 billion to help 42 million people who are literally going to die if we don't reach them. it's not complicated. this is heartbreaking. i'm not asking them to do this every day, every week, every year, a perfect storm of conflict, climate change and covid. it's a one-time phenomena. >> david beasley singling out jeff bezos and elon musk. the bloomberg puts his net worth at $31 billion. the fore tune grew 9.3 billion alone in one day. over the weekweekend, musk responding to someone who tweeted that cnn story "if the u.n. can show on this twitter thread exactly how $6 billion will solve world hunger, i will sell tesla stock right now and do it." adding "details must be open sourced accountings so the public sees precisely how the money is bent." $6 billion is less than 2% of musk's fortune. beasley later replied let'

how much of a market risk is tesla and elon musk right now?> hard to say i think it's fair and this is through my central thesis with this tesla financial complex, is that what happens in tesla doesn't stay in tesla. it is just so big now and has such a huge options market and associated structure products that reference tesla, lots of hedge funds long or short, all fund managers get whip saw what weight they have in tesla. it's not something we can ignore anymore. whether it's a market risk, what people would call a systemic risk, that's what i'm not so sure about i do think that although, you know, tesla dropping 10, 20% isn't all disaster, we saw that after musks starting selling down his shares and after a result of some of these tweets, that didn't ripple that much further but that took tesla back to where it was in october, right? tesla could basically drop 50% in value and still be one of the most richly valued companies in the world. and that's just staggering and i think the ripple effects from that probably unappreciated, right >> ri

this is elon musk. he's a marketing genius. >> so true >> you take him at all of his strengths and faults >> yeah, it's all -- you get it all in one piece >> make fun of jeff bezos, too >> look, he does whatever he wants and in the end i tire which has why i have been a big backer i sent him the other day a note about how i felt about musk and he said i want to beat him beat him is like tying him you want it crush him, crush musk look, if you're going to shoot the king, you have to kill the king what i don't want to see is that musk get so far away from gm and ford that they employ hundreds of thousands people around the globe. >> do you think he can kill musk or just sort of -- >> he's a competitive guy. he will kill him in the truck. absolutely >> you don't think the cybertruck -- >> the f-150 is going -- the lightning f-150 will be a joy. it will be joyous. no, i mean, i have an f-350, but i do think what is exciting about what farley wants to do is be the first guy who crushes him and that was the m

and elon musk selling another $930 million in tesla shares yesterday.ident >>> plus crypto prices plunging as everybody is writing articles on gold and its comeback bitcoin tumbling below $60,000 it's november 16, 2021 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen andrew is off today. yesterday was a pretty nonexistent day for equities, at least if you were looking at the end of the session basically marching in place in the session, the dow down by 12 points nasdaq off by 7 points but the s&p was down by 0.05 points so basically standing in place for the day. this morning, it's more of the same nasdaq off by about 17 but the

. >>> elon musk hosted a poll on twitter. maybe you saw this. asking whether he should sell some of his shares of tesla and then pay taxes on them and millions of you said yes. >> yes. so you say this could have been more performance art than actual genuine questions. >> performance, art. yeah, he planning to sell those shares anyway. he'd walk away with millions. we may use that to pay yet more tax. much is made lately of unrealized gains being a means of tax avoidance, so i propose selling 10% of my tesla stock. do you support this? a majority voted yes and musk said he would abide by the decision. musk doesn't pay traditional income tax because he didn't have any income in the traditional sense. he doesn't get a paycheck, just stock options. but he does own millions upon millions on those options and said in september's code conference he was already planning to sell stock in the fourth quarter, and that's now. so it it was his plan all along, and the tweets were indeed performance art. now, if musk does sell a lot of stock, that is going to

musk said he would do it if the u.n. describes how it will hyposolve world hunger he has been criticized by not donating more. he prefers to keep it anonymous. >>> the first lbgtq plus woman to serve on a federal circuit court. robinson serve as associate justice since 2011 she's been a tireless champion of equal rights and equal justice. she was confirmed in are vote, voting alongside democrats to confirm her. >>> still to come, why you may want to toss that salad in the bin inside the recall affecting ten states plus, the texas apportion law raising eyebrows with conservative justices, what this means for roe versus wade. means for roe versus wade. >>. so you can feel lighter and more energetic metamucil. support your daily digestive health. and try metamucil fiber thins. a great tasting and easy way to start your day. when they're sick, they get comfortable anywhere and spread germs everywhere. nothing kills more viruses, including the covid-19 virus, on me surfaces than lysol disinfectant spray. lysol. what it takes

a fresh tweet from elon musk in this thread.started with bernie sanders saying we must demand that the extremely wealthy pay fair their share period. elon musk says i keep forgetting you're still alive, clap back there, yes. then he threatens, do you want me to sell more stock, bernie. just say the word, bernie. just five minutes ago, ten minutes ago also had elon musk adding to the thread, how much do you think is fair? do you think 53% seems reasonable in your view? what is exactly fair share when it comes to billionaires paying taxes. 1% fills up 40% of the tax coffers. neil: right, right. >> elon musk sold 7 billion in stock last week that hurt tesla's stock, which a lot of people sold into. if you say this will hurt the booeder markets and broader shareholders. neil: it almost read like a threat, right? >> you're right, it did. always entertaining his take what exactly the billionaires should be doing. they're creating jobs. he is expanding capital in this country. he is the one driving the economy, but you know who i thoug

>> i think the only person who knows what elon musk is doing is elon musk. now the seller, the shorts are covering. i do not know who will send short shorts to one another. matt: we are looking at a chart of the institutional long, the big number in white, versus the shorts in yellow. the most shorted stock on the s&p 500. how has that changed? >> it has not. the shorts dug in. they are covering a little bit. they are still there and quite sizable. matt: where else are you seeing big shorts now? we have a big homebuilder. i'm looking at the real estate market every day. what is the story there? >> it basically encapsulate the whole of it. homebuilders cannot make money with rising interest rates and rising input costs. the shorts are going to billions of dollars, but the long is also increasing. you can see the tectonic plates rubbing up against each other. perhaps there is a volcanic eruption. this is how systemic risks happen. one of the stocks to watch is a bellwether for how it will go in the future. matt: it looks like some of them are moving up against

this is just him being elon musk? >> it is.ne thing that we've come to see elon musk do is get the attention of the s.e.c. you wonder if he didn't do it because of what some could call stockman inlation. hey, i am about to sell billions of dollars of stock which will dough press the price. good news for those who might short the stock. you are not supposed to talk about this stuff publicly. >> we could talk about this for about five hours. thank you for your perspective. >>> outside on this stormy monday night, the live camera in walnut creek. get ready for the rain. jeff will rejoin us with an update on tonight's timeline of the storm. >>> welcome back to nbc bay area news tonight. tonight's storm should bring in fresh powder to tahoe. jeff, they are making snow. forget the natural stuff. they are going right at it. >> why not? >> the newly renamed palisades tahoe firing up the snow-making machines. they plan to open for skiers and boarders november 20th. let's pump in some snow. >> yes. they will get about 9 inches out of the

guy: is elon musk on board with a deal with hertz?t difficult question you could have asked me. what he was reiterating in his tweet was the idea that tesla is supply constrained. elon musk has mentioned on more than one occasion that he feels that they stock is valued too high for tesla, and this idea that they are supply constrained. in other words, they cannot build enough vehicles to meet demand. a big part of that story is a new factoring europe, and germany, and the plant coming online in austin. elon musk has been very close to the retail investor, very close to the tesla customer. if you read his tweets over the years, what he appears to be saying is that hertz is not the priority over anyone else. alix: is that true? ed: it is hard to say. they are on course to one million vehicles in 2021, approximately. but there are people that tweet constantly, i placed an order for a model three, i placed an order for a model y, where is it? people constantly tweeting out elon musk saying, hold on, i have been waiting weeks and months fo

. >> and sell, that is the verdict from elon musk's twitter poll. this is a feature -- was the longest winning streak since august. we also have treasury surging after the u.s. payroll data exceeded expectations. oil fell for a second week. we did see u.s. and saudi arabia's bar over prices though we saw a little upside in the friday session. it was all about the data point that we saw on friday. job creation coming in stronger than expected. 531 thousand. looking better for private sector payroll. if you can bring up that cwe cae seasonal adjustment, this is the biggest gain in payroll since last october. this is a little bit of playing catch-up to the report over the last two months. a relief to the fed and the white house. suggesting the weaker august and september reports were because of the delta variant. nothing more fundamental. and perhaps, another sign of optimism that president biden was finally able to pass the infrastructure package. he hailed this new fund for roads and bridges. everything needed in the u.s. we are talking about this ma

elon musk tweeting there is no contract signed with hertz. hertz issuing a statement to bloomberg saying, we are already taking delivery. the stock dropping, then rebounding, closing up 2.6 percent. you are not even listening to me speak because avis is closing up 108%. one point higher by 218 percent following earnings. ,'s from the cfo about their future and electric vehicles, and then being on the platform. a lot to take in. we will talk about it later in the show. specific stock movers in the tech space, starting with meta-. the company form or not -- formally known as facebook. the company announcing it won't use facial recognition on the platform when it comes to photos and videos. netflix up by half a percent. it's launching into video games and new titles. the story of bloomberg roque earlier. microsoft, one of the better performing stocks, up, giving its version of the metaverse, and you will deal with that right now. emily. emily: thanks for holding down the fort in san francisco. the metaverse -- if you are worried the metaverse wi

musk said he'd abide by the decision. he doesn't play income tax. doesn't have any income in a traditional set. doesn't get a paycheck, just stock options. but does own millions upon millions an on those options and told cara switser he was already planning to sell stock in the fourth quarter, which is now, is it was his plan all long. the tweets were perhaps performance art. art indeed. if musk does sell a lot of stock, this is going to be an affect on tesla's stock. any time you have anyone placing a huge number of shares on the market, it tends to press the price, and indeed today, shares are down 3% with the possibility he will sell more. >>> thank you, scott. up next, crowd control concerns. the one thing the houston police chief told rapper traft scott the day before his concert turned into deadly chaos. >>> also, the scary encounter between hikers and a mountain lion, face-to-face down in southern california. >>> i'm chief meteorologist jeff runeari tracking that rain starting to move. i'll have to updated time line in about eight minutes. wh

what does elon musk do.e says he will listen to what the twitter user said but he has a big tech bill due for stock options that he was awarded in 2012 they expire over the summer. he could've $15 billion federal and state. that offer some insight into why he left california. stuart: is certainly does. i'm going to bring in jason katz, market watcher to join us now. what do you make of elon musk asking twitter stock advice. >> frankly i think it is reckless. there are a lot of people who take their investing seriously, they don't have nearly as much money as him, obviously. they take his poles and tweets to heart. i'm not so sure that should be the forum for him to express those views and/or will the sec view that as well. stuart: nothing bad ever happens to him when he does these tweets. who knows what'll happen. i read your stuff in row right now at record high levels stock prices. you are telling people, jumping now. it is time to get into the market. i was not expecting that from you, justify it is. >> i

everybody is trying to tap elon musk for money.ll, three point 5 million people said yes, he should sell stock. pay his taxes. the u.n. wants 6 billion as well. are we going to see an altar is to excite of elon musk? >> i left the door open for that. elon musk had 170 million tesla shares. this is less than one million shares. the twitter poll said he would sell 10% of his stake. if this is what he is doing and he is following through with that promise based on 58% of three point 5 million people voting in favor of that proposal, then he still has quite a lot of stock. 16 million shares or so, by my back of the napkin math. what is interesting is the positive market reaction. shares rising after that filing dropped. even though often when the supply of shares into the market -- the opposite of -- is true. shares through -- so, we don't know. but, there is a timeline here. there is a chronology to what happened. all we can reinforce so the audiences that the filing said he sold those shares of common stock to meet tax obligations. p

how much gets complicated by a sale of stock by musk?don't think any i mean, from fundamental perspective, i don't think it changes, if anything, i think through this strategy, if we can call it that, musk has taken off the narrative that would have been purported something wrong in tesla that's causing them to exercise those options so, if anything, i would say it's a net positive. >> what do you think the story is right now between tesla's growth trajectory and the incoming wave of competition, some believe from legacy oems. how much white space is there? and how much do you expect it to compress, if any >> well, i think you're going to continue to see competition. however, having run a division of a fortune 500 myself, i will say that wall street still fails to understand that most investors is the role of culture and the challenge that the traditional oems are going to have is not can you build a product that's as good as tesla, but how do you change the culture that enables the ability to keep building products as good as tesla. it'

elon musk sold off $5 billion in tesla shares after a twitter poll. musk sold about 4.5 million shares, over 1 billion will go to paying taxes. sales were disclosed in regulatory filings today. last weekend he asked twitter users if he should sell 10% of shares and results were overwhelming yes. the shares amount to about 3% of his holdings. >>> new video out of fremont where mission san jose church is tagged with red spray paint. church and museum buildings were vandalized with anticolonial messages. it is believed this happened about 3:00 am friday based on what was captured on cctv footage. we'll have continuing coverage of the investigation this evening at 5:00. >>> new, a live look at highway 280 in belmont. a new report says the stretch of highway between san bruno and cupertino is deadliest for wildlife in the state according to a new uc davis study. they found cars are most likely to hit wildlife along that stretch. five of the top 20 hot spots named are along 280. >>> a live look at the white house, inflation has hit a 31 year high with price

they're higher even though elon musk sold five billion dollars worth of stock.t was his first stock sale in about five years. tesla shares just turned lower. they're at 1064. david, let me bring you in here. elon musk selling shares, are you buying tesla shares? are what are you telling investors? >> that was a complete overreaction. i love you said it is going lower. we're looking to buy. we were looking to buy under 1200. we almost caught it under 1000. we missed it. investors want to own companies that have hype around them. in spite of elon selling investors are unaring in and buying even on a day like this. why did apple make it and blackberry didn't? apple created hype around their products. blackberry was, well, boring. lauren, you didn't have a blackberry. you were more of an apple. >> i didn't want to give it up. i held the on until all the keys were broken. >> you were the one person. most people are excited by the apple hype. people get that with tesla as well. lauren: shana, what are your thoughts on tesla and the fact that elon musk does keep it int

well the poll had more than 3.5 million votes and the winning answer, nearly 58% said yes, elon musk, sell it, go for it so will musk stick to his twitter poll promise and sell what does that do for the company and sector let's bring in jpmorgan portfolio manager phil camparelli, and scott redler. phil, this isn't just a tesla story, obviously, because we've got the infrastructure bill that finally passed that's really, you know, buoying what's going on here for the whole market but what do you see from the tesla piece here about the billionaire s tax, because we still need to see how these big infrastructure plans are going to be paid for and he kind of threw that out there to the twitter-verse. what were the masses going to say? oh, no keep your money don't pay any taxes while we pay 30, 40, 50%. >> you know, liz it's great to be with you today. i think the last time elon musk had a weekend that exciting was on saturday night live and he caught fire with that as well, so tesla is still one of our biggest holdings in our growth sleeve. i think tesla is up 70% this year which is a gre

as we wait, rivian, let's get a gut check on tesla take a look at those shares sliding since elon musk took to twitter asking his followers whether he should sell 10% of tesla stock. biggest drop of the year closing lower by 12% the company has now lost around $207 billion in market value, that's like losing an entire intel in just the span of three days and in the history of the bloomberg billionaire index musk's losses represent the biggest two-day decline ever but shares are bouncing back about 4.5% today and the stock is still up 50% this year. bank of america raising its price target to $1,200 that's 12% upside from where we are right about now. >> musk's wealth will be okay, julia. >>> turning to what else, the meta verse unity stocks seeing a boost after beating third quarter expectations for earnings and revenue as well as raising full-year guidance it intends to buy "lord of the rings" digital effects maker for more than $1.6 billion in cash and stock. unity would retain all the company's engineers and chief technology officer joining us now john riccitiello great to have you

it came down after musk said the deal with hertz has not been signed yet. are you a musk fan?s the 33% move in the last couple weeks but he is a wealth creator, visionary is one of a kind, more power to him. i own a tesla but don't own stock. stuart: you like it? >> i love it. stuart: is it the best car you have ever driven? >> it is different than anything. the model x is a small car but fits 7 people. the way you can interact with the car through your phone is a glimpse of the future, what it will be like. stuart: have you guys made a pick in the electric vehicle market. >> we haven't in straight ed but a lot of companies in the battery type space and delivery vehicles are electric that will bring things like groceries and packages theodore but we stayed away from the electric vehicles and electric is the winner in the space and the risk to tesla is from the existing auto manufacturers, ford and gm but looks like musk has gotten such a leader will be interesting to see if anyone can catch them. stuart: the rally continues. thanks for being here today. one of football's bigge