(This story has been refiled to fix the dateline) By Foo Yun Chee and Chavi Mehta The U.S.

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Elon Musk reportedly took out a $1bn loan from his company SpaceX the same month that he acquired Twitter, now known as X, according to theWall Street Journal. SpaceX approved the loan – which was secured by some of his stock in the company – in October 2022, according to the Journal. That same month, Mr Musk drew all of it down. The SpaceX founder returned the $1bn – with interest – to the company one month later, the Journal reported. It’s unclear why the richest person in the world now and in October 2022, when he took over the social media giant, took out the loan. He bought the social media company for $44bn, which seemed to contribute to him losing that top slot, until he was renamed the world’s richest person in June 2023. The publication also noted that in November 2022, when he repaid the loan, Mr Musk sold $3.95bn in shares in another one of his companies, Tesla. The following month, he sold another $3.58bn in Tesla stock. That year in total, Mr Musk had sold nearly $23bn worth of Tesla stock since April – fuelling speculation that the funds were likely going toward his social media platform acquisition. This isn’t the first time that Mr Musk has taken out money from one of his ventures to aid another. In 2009, Mr Musk reportedly borrowed $20m from SpaceX to support Tesla. More recently, in 2015 and 2016, SpaceX poured $330m in bonds into his solar panel company SolarCity. Tesla ended up acquiring SolarCity in 2016. SpaceX has recently come under fire, as the Justice Department sued the company last month for alleged hiring discrimination practices. SpaceX’s “discriminatory hiring practices were routine, widespread, and longstanding, and harmed asylees and refugees,” the filing stated. The Independent has reached out to SpaceX for comment. Read More Starship ‘ready to launch’, Elon Musk says Elon Musk calls Burning Man ‘best art on Earth’ amid chaos that saw thousands stranded and one dead Elon Musk vows to sue ADL for calling him antisemitic after he promoted antisemitic campaign on X

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Dozens of popular Reddit communities have pledged to continue a blackout indefinitely after no resolution was reached over a pricing dispute. The protest was initially meant to last 48 hours, with moderators of the subreddit communities hoping the action would force Reddit’s chief executive to reconsider charges for third-party app developers. These charges have already forced the Apollo app to announce that it is shutting down, as they mean it will no longer be able to afford access to Reddit’s API (Application Programming Interface). Apollo is one of several platforms that Reddit members use to access the site, with several subreddits posting a message on Wednesday stating: “Reddit is killing third-party applications (and itself).” The continuation of the protest will impact millions of Reddit users, with more than 300 subreddits committing to staying dark. They include r/music, which has 32 million subscribers, and r/videos, which has around 26 million members. Unpaid volunteers who moderate the communities claim that Reddit admins have been removing moderators who support the protest in order to force the sub-Reddits to open. One moderator of r/gaming also claimed the defiant stance was a response to Reddit chief executive Steve Huffman claiming that the protest “will pass”. In an internal memo to staff this week, Mr Huffman reportedly referred to the blackout as “noise”, despite more than 8,000 communities initially taking part on Monday. “Please know that our teams are on it, and like all blowups on Reddit, this one will pass as well,” he wrote, according to The Verge. “We absolutely must ship what we said we would. The only long term solution is improving our product, and in the short term we have a few upcoming critical mod tool launches we need to nail.” Mr Huffman also warned staff members to not wear the Reddit logo in public, in case it made them the “object of [users’] frustrations”. The CEO claimed that the site-wide protest had not resulted in “any significant revenue impact”, though this is unlikely to remain the case if widespread blackouts continue. Read More ‘This will pass’: Reddit boss responds to major chaos at site Reddit is in chaos – and it’s boss has finally responded Reddit down amid major protest Reddit just went ‘dark’, and the site is in chaos

Reddit CEO and co-founder Steve Huffman has publicly defended the company's controversial API changes in

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