How Musk’s Twitter takeover strategies shook Wall Street and social networks

How Musk's Twitter takeover plans shook Wall Street and social media

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Elon Musk uses numerous hats as Tesla CEO, SpaceX CEO, and creator of the Boring Company and Neuralink.

He’s likewise a respected Twitter user. The news that Musk made a $44 billion deal to purchase Twitter and possibly end up being the social networks business’s CEO has actually sent out shock waves through Wall Street and social networks.

“Forty-four billion continues to be a head-scratcher for a company that I believe is probably worth closer to $30 or $35 billion,” stated Wedbush expert Dan Ives in an interview with CNBC. “But when you’re the richest person in the world, you can do that. And that’s why Twitter investors, when they saw the $44 billion, they were popping champagne or drinking their favorite alcohol.”

The offer can still fail, though. As continuous stock exchange volatility wipes millions in market cap from tech business, Musk stated he’s putting the offer on hold till he gets more clearness on the number of phony accounts exist onTwitter Analysts think Musk might be utilizing this dispute to drive down his suggested $54 per share takeover cost now that a lot worth has actually been drained pipes from tech stocks over the previous couple of weeks.

And on Friday, Musk discovers himself involved in scandal. He’s required to Twitter to react to a report from Business Insider that states SpaceX paid a flight attendant $250,000 in severance over a sexual misbehavior claim made versus him.

Twitter decreased to comment about the claims and repeated remarks from earlier in the week that the business’s board stays dedicated to the initial handle Musk.

Watch the video above to discover more about how Musk’s quote for Twitter came together, how the social networks business might alter under his watch and what barriers stay that might stand in the method of the offer going through.

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