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How Musk’s Twitter takeover plans shook Wall Avenue and social media

Elon Musk wears many hats as Tesla CEO, SpaceX CEO, and founding father of the Boring Firm and Neuralink.

He is additionally a prolific Twitter person. The information that Musk made a $44 billion supply to purchase Twitter and doubtlessly develop into the social media firm’s CEO has despatched shock waves by Wall Avenue and social media.

“Forty-four billion continues to be a head-scratcher for a corporation that I consider might be value nearer to $30 or $35 billion,” mentioned Wedbush analyst Dan Ives in an interview with CNBC. “However if you’re the richest particular person on the earth, you are able to do that. And that is why Twitter buyers, once they noticed the $44 billion, they had been popping champagne or ingesting their favourite alcohol.”

The deal can nonetheless fall by, although. As ongoing inventory market volatility wipes thousands and thousands in market cap from tech corporations, Musk mentioned he is placing the deal on maintain till he will get extra readability on what number of pretend accounts exist on Twitter. Analysts consider Musk could also be utilizing this debate to drive down his proposed $54 per share takeover value now that a lot worth has been drained from tech shares over the previous few weeks.

And on Friday, Musk finds himself embroiled in scandal. He is taken to Twitter to reply to a report from Enterprise Insider that claims SpaceX paid a flight attendant $250,000 in severance over a sexual misconduct declare made in opposition to him.

Twitter declined to remark in regards to the allegations and reiterated feedback from earlier within the week that the corporate’s board stays dedicated to the unique cope with Musk.

Watch the video above to seek out out extra about how Musk’s bid for Twitter got here collectively, how the social media firm may change below his watch and what obstacles stay that might stand in the way in which of the deal going by.

What do you think?

Written by trendingatoz

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