Economics, Business, Money, Finance : Why Elon Musk is really bailing on his Twitter job

Why Elon Musk is really bailing on his Twitter job

It wasn't because of a Twitter poll. These two charts below tell the real story.

Musk first announced his agreement to purchase Twitter on April 14th of this year, and Tesla stock, which represents most of his net worth, has dropped over 60% since. Realizing his mistake, Elon spent much of the year trying to back out of the deal, but eventually he decided to go through with it or face stiff penalties. On October 27th, the Twitter purchase was finalized for the cost of $45 billion.

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Now his hope was to somehow turn Twitter around and make the $45 billion back. Unfortunately for him, Tesla stock has dropped even more since the Twitter purchase, and with it Elon Musk's net worth. The Twitter losses are dwarfed by his Tesla losses, which exceed $100 billion.

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His best bet now is to divest himself from Twitter as much as possible, write off the $45 billion loss, and hope the Tesla nosedive stops without Twitter dragging down confidence in his leadership. If it doesn't stop, he could lose most of his fortune. Elon Musk buying Twitter is without a doubt one of the worst business decisions of all time.

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Re: Why Elon Musk is really bailing on his Twitter job

I honestly think Twitter pissed him off at some point.

On hiatus enjoying holidays

Re: Why Elon Musk is really bailing on his Twitter job

Why are you obsessed with Elon Musk?

Get a ****ing life!

Re: Why Elon Musk is really bailing on his Twitter job

I bet it feels like **** to lose 100 billion dollars.

My password is password

Re: Why Elon Musk is really bailing on his Twitter job

He could NOT have been sued for refusing to buy it: they were in TALKS. He never finalized the deal, so there was no suing possible: he would have won it!!! He was shooting the breeze, considering it.

$44 billions is too much price/money!!!!

He should have offered 100 millions and they would have accepted.
Yes, that was a dolt move.

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