Elon Musk thinks it will payvery expensiveFor Twitter, however, it continues to believe in the long-term potential of the social network, which it must buy by the end of the month for $44 billion if it wants to avoid an unprecedented legal process. When asked about the situation with Twitter on Wednesday, he said to himself:enthusiastic“because it’s a commodity that he”knows incredibly well“.
The multi-billionaire was answering questions from financial analysts at Tesla, his electric car company’s quarterly earnings conference call. Twitter”is an activity that has been dying for a long time, but has incredible potential“, he announced. “It is clear that other investors and I will obviously pay too much at the moment, but the potential (of the platform) is much greater than its current value.“.
Shares of the San Francisco group rose 1.49% to $52.60 in electronic trading after the New York Stock Exchange closed, even lower than Elon Musk’s spring offer price of $54.20. The capricious leader made a buyout offer that was reluctantly accepted by Twitter in late April before seeking to unilaterally oust him in early July, accusing the company of lying to him. The social network filed a complaint, and Elon Musk finally assured at the beginning of the month that the deal will indeed take place ten days before the start of the trial. The judge adjourned the case and gave the two sides until Oct. 28 to complete the deal.
Analysts also asked the world’s richest man on Tuesday whether he plans to merge his various companies (Tesla, SpaceX, Neuralink…) and Twitter under one brand, similar to Berkshire Hathaway, Warren Buffett’s holding company. “I’m not sure there are any synergies– answered Elon Musk. “I am not an investor. I am an engineer, a specialist in industrial production and technologies. I work in product design and development. I don’t see a clear way to bring (them) under one entity, not at this stage anyway“.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.