Elon Musk’s team seeks new funding for Twitter — investor

Jared Birchall, the managing director of Elon Musk’s family office reached out to potential investors this week (AP)
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Updated 17 December 2022
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Elon Musk’s team seeks new funding for Twitter — investor

  • Twitter has seen advertisers flee amid worries about Musk’s approach to policing tweets

Elon Musk’s team has reached out to investors to raise new funds for his struggling social media platform Twitter, one of the investors said.
Ross Gerber, president and CEO at Gerber Kawasaki Wealth & Investment Management, said that he was contacted by a Musk representative about offering more shares at the same price, $54.20, that Musk paid to take the company private in October.
Jared Birchall, the managing director of Elon Musk’s family office reached out to potential investors this week, news platform Semafor reported on Friday, citing two people familiar with the fundraising effort.
Twitter and Musk did not respond to requests for comments.
Twitter has seen advertisers flee amid worries about Musk’s approach to policing tweets, hitting revenues and its ability to pay interest on the $13 billion debt that Musk took on to buy the social media company.
Musk sold another $3.6 billion worth of shares in Tesla earlier this week, making it nearly $40 billion worth of shares in the electric-vehicle company sold this year.
Tesla shares on Friday posted their worst weekly loss since March 2020, with investors increasingly concerned about Musk being distracted by Twitter and the slowing global economy.


Gems of Arabia magazine launched to spotlight talents shaping Saudi Arabia’s evolving cultural landscape

Updated 21 min 51 sec ago
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Gems of Arabia magazine launched to spotlight talents shaping Saudi Arabia’s evolving cultural landscape

  • The publication features established and emerging talents elevating the region across design, fashion, art, tech, music, architecture and media
  • Saudi fashion designer Hatem Alakeel seeks to highlight the richness of the Kingdom, and wider modern Arab culture to global audiences

DUBAI: When Saudi fashion designer Hatem Alakeel interviewed Princess Reema bint Bandar Al-Saud before her appointment as Saudi ambassador to the US, the longtime advocate of women’s empowerment made a powerful prediction: “I look forward to the day that the Saudi woman is no longer the story but rather a phenomenal achievement.”

That moment would become the foundation for Gems of Arabia, an arts and culture audio-visual podcast that spotlights the creative talents shaping the landscape of Saudi Arabia and the broader region.

Over six years, Gems of Arabia has documented the sweeping transformation of the Kingdom’s art and culture scene, and is now evolving into a full-fledged magazine.

Hatem Alakeel is a Saudi fashion designer. (Supplied)

“It started off as a column I used to write, and from there, it turned into a podcast. Now it is growing into a magazine,” Dubai-based Alakeel, the magazine’s founder and editor-in-chief, told Arab News ahead of the launch of the digital publication on Thursday.

Besides spotlighting celebrated regional artists, Alakeel said Gems of Arabia is in search of the “hidden gems” elevating the region across design, fashion, art, tech, music, architecture and media.

The magazine serves as a platform for talented, authentic creatives and tech entrepreneurs unable to articulate their work “because they don’t have the public relations or capacity to promote themselves even through social media.”

Alakeel added: “Our job is to identify all these authentic people; you don’t have to be famous, you just have to be authentic, and have a great story to tell.”

The digital publication offers a dynamic blend of short-form podcasts, coverage of regional cultural events, in-depth features and editorials, long-form interviews and artist profiles — spotlighting both celebrated and emerging talents. This is complemented by social media vox pops and bite-sized coverage of art events across the region.

Alakeel, who also runs Authenticite, a consulting and creative production agency connecting creators and brands who want to understand Saudi culture, said the magazine content is “carefully curated” to feature topics and personalities that resonate in the region.

What differentiates Gems of Arabia, he said, is its story of continuity and substance amassed over the years that has captured the evolution of the wider regional landscape.

“The website represents an archive of nearly 150 articles compiled through years of podcasts and long-form conversations that show continuity and depth changes,” he said.

“So, it’s an evolution and it’s another home for all our content and our community.”

Growing up in France, Alakeel said his mission started early on when he felt the need to represent his Saudi culture “in a way where it can hold its own internationally.”

Through his first brand, Toby, he sought to bring the traditional thobe into modern designs and introduce it to the luxury fashion world. This mission was accomplished when his thobe designs were placed alongside global labels such as Harvey Nichols, Dolce & Gabbana and Prada.

What began as a personal design mission would soon expand into a broader platform to champion Saudi talent. 

“I was articulating my culture through fashion and it just felt natural to do that through the incredible people that the region has,” Alakeel said, adding that the magazine aims to highlight the richness of the Kingdom, and wider modern Arab culture to global audiences.

“Art is such a great way of learning about a culture and a country,” he said. 

On the ground in Saudi Arabia, the publication hosts GEMS Forum, a series of live cultural gatherings that bring together prominent artistic figures for in-depth conversations later transformed into podcast episodes recorded with a live audience.

Alakeel said the print edition of Gems of Arabia will debut in March, designed as a collectible coffee-table quarterly distributed across the Gulf.

He envisions the platform growing into a long-term cultural record.

“It's a Saudi-centric magazine, but the idea is to make it inclusive to the region and everyone authentic has a seat at the table,” said Alakeel.