Speaking during Tesla’s earnings call yesterday, Musk addressed the long-running and controversial Twitter deal that was first announced back in April. After the automaker’s CEO pulled out.
In brief: Elon Musk has shed more light on his takeover of Twitter and the $44 billion it’s costing him. The world’s richest person praised the platform’s incredible potential but admitted that he is „obviously overpaying“ for the company.
Speaking during Tesla’s earnings call yesterday, Musk addressed the long-running and controversial Twitter deal that was first announced back in April. After the automaker’s CEO pulled out of the acquisition over claims that Twitter was being untruthful about how many fake/bot accounts are on the site, Musk eventually agreed to go ahead with the purchase at the original $54.20 per share earlier this month, making the whole deal worth around $44 billion.
Buying Twitter is an accelerant to creating X, the everything app
Elon Musk (@elonmusk) October 4, 2022
„Although obviously myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter in my view is an order of magnitude greater its current value,“ Musk said in a call transcribed by Insider’s Tim Levin.
