Elon Musk Has a Big Problem on His Hands

Musk's attempt to back out of a deal that would have made him the richest man in the world is backfiring spectacularly, and his car company could be with him.

The New York Times reported that Musk went as far as to ask for a 30 percent discount during the negotiation.

Musk agreed to buy the social media company at his original offer of $54.20 a share, a massive sum that could force the billionaire to dig deep into his pockets and sell even more of the company's stock.

It's a lot of money for the richest man in the world. Musk sold off $7 billion of his shares in order to pay for the social media company. The deal depended on Musk being able to get funding.

He said at the time that he might have to sell more stock if the deal is forced to close.

That's what happened, with two funders bailing out.

As of right now, it looks like Musk will soon be the new owner of a website that has historically struggled to make ends meet, and he may have to sell more stock to make it happen.

The Street reports that investors in the company are worried about that type of uncertainty. Adding to the pile will make it harder for Musk to devote himself to the electric car company.

The broader worry is that Musk is spread too thin at a crucial time for the company. Musk is juggling a lot of balls at the same time and that makes investors uneasy with the new kid on the block.

The timing of Musk's shopping spree was terrible. The company has been put through the ringer this year and the latest news is making things worse.

The company's stock prices plunged more than 20 percent in less than 20 days in a clear sign that investors don't like Musk's antics.

Better market conditions haven't helped, with experts warning of a possible recession.

The end of this epic saga may be near, but we have more questions than ever. Will Musk be able to turn the company around and make money? Will those efforts affect his involvement in the electric car company?

Musk has been known for making waves, for better or for worse, and that kind of uncertainty is the last thing you need during an ongoing economic downturn.

It's possible that Musk's ambition could mean something for the company.