Days ago the South African billionaire and Twitter made an official announcement of a $44 billion takeover bid over the social network company.
However, Tesla shares sank more than $125 billion off the vehicle maker’s market value.
Wall Street anguished about Musk’s last purchase. Investors know that the Twitter deal could impact the electric vehicle maker’s company and its stock price.
Musk announced he would cover $21 billion himself to secure the transaction. He asked the banks to finance the other half of the quantity.
Wall Street and the public opinion still don’t know how Musk will cover the rest of the money.
There’s uncertainty if he would sell some of Tesla’s shares, bring additional investors or borrow against the shares.
Is Musk improving Twitter?
His vision for improving the 16-year-old company leans heavily on a pledge to make a speech “as free as reasonably possible” on the platform.
A commitment celebrated on the political far-right and among followers of former President Donald Trump, whose account last year was permanently banned.
Others familiar with Twitter say they’re still dismayed at Musk’s successful bid for the company.
“This person has shown a very unique ability to be extremely immature online and to use the platform in ways that I think are harmful to people,” said Leslie Miley, a former Twitter employee.
Miley, who worked on safety, security, and online abuse at Twitter, was the only Black engineer at Twitter in a leadership position when he left the company in 2015.
“When you don’t pay attention when you let people make statements that are false or misleading or harmful and there’s no accountability, it will continue and it will increase.”
