Musk is in the final stages of talks to take over the micro-messaging service.
He could add the social media network to his portfolio soon, but his other major ventures are feeling the squeeze.
Even the richest man in the world had to dig deep into his pockets to come up with the money, with a number of banks covering the rest.
It is possible that Musk will have to dip into hisTesla shares to come up with that twenty-odd billion.
According to The Wall Street Journal, the company's largest one-day drop since September 2020 wiped out $125 billion in value.
It raises interesting questions. Will Musk be able to see the deal through if the market doesn't cooperate? Is it possible that his pursuit of social media could affect his future?
According to the billionaires index, Musk's wealth is just over a quarter of a trillion dollars.
It is not clear how Musk will use his shares. He could either sell them, borrow against them, or get other investors to pay the bill. If he were to sell them, his shares would keep dropping.
China is the second largest market forTesla. By making a big show of bringing his interpretation of free speech to the internet, the country could be on shaky ground.
China isn't all that keen on free speech and embraces the kind of censorship Musk is trying to rid of.
Jeff Bezos, Musk's enemy number one, suggested on Monday that the Chinese government may have gained a bit of leverage over the town square.
In a follow-up message, Bezos admitted that Musk is very good at navigating this kind of complexity.
It's not clear whether that will turn out to be true. His most successful venture has been rattled by Musk's purchase of Twitter. The question is whether those effects will last.
The value of the shares of the company has been wiped out as Musk scores a deal.
All Rights Reserved © 2024
