An expert has warned that Musk could be on the hook for billions of dollars after walking away from a deal to buy the micro-messaging service.
After walking away from his $44 billion deal, Musk is unlikely to win the inevitable legal battle.
He said that Musk may have to pay the difference between his offer and the value of the company now.
When Musk walked away from the deal, he faced a $1 billion break fee, but now it's not worth it.
He owes $17 billion to shareholders, and the stock is likely to crater. A $20 billion judgement could be looked at by this man.
Anyone with an IQ over 80 would have asked why they were doing it. This is not logical.
Musk's lawyers argued in a letter to the company that it had violated its agreement by failing to reveal the number of fake accounts.
This was not a reason to abandon the deal.
He said Musk's commitment to pay $54.20 a share for Twitter occurred in "a month of mania" and that because his "piggy bank" was now 40% smaller he was walking away.
Musk's net worth has fallen by $65 billion since he announced the takeover, with his company's stock price losing 25% of its value.
According to a group of legal experts, the company was more likely to try to negotiate a lower sum than it was to try to resolve the dispute with Musk.
Adam Badawi is a law professor at UC Berkeley. This thing may not be worth it.
The company is worth less than Musk agreed to pay due to the analyst's new value of $30 per share.
Being in a court battle with the richest person in the world is not the vision the company and its board saw in April.
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