Elon Musk net worth: $265 billion
Twitter market value: $36.7 billion
Hes offering like ~$40 billion
Nothing is causing more levels of :jokerfication: for me right now than the number of random internet people I'm running into while playing a few online games that mentioned this and are saying "BASED" :so-true: and even find it hilarious that E L O N might then rule Twitter like a king. They see it as a way to trigger SJWs and cancel cancel culture and so on and so on. :zizek:
Death to Twitter, of course, but I feel a deep crawling sense of dread when the obscenely rich buy their way further into the lives of the masses... and the masses cheer. :jokerfied:
Imagine getting one of your tweets deleted having a tantrum and wanting to blow 40 billion just so you can be Twitter dictator and it wouldn't effect your net worth at all really
it was a while back, something about covid i think. idr if he deleted it or if twitter did but there was some antisemitism too
From :reddit-logo: :
Watch as he sells all his stock when this causes shares to skyrocket.
Musk owns 73,486,938 shares of Twitter, which he bought for 2,890,000,000 billion. That's $39 a share? I think?
If he sells now, he'll make $3.7 billion off the current price of $51 a share, meaning he'll have made $700 million profit off this.
Isn't capitalism great?
But also, why wouldn't current Twitter investors accept this wholeheartedly? It's a good premium on what they valued the company as a few weeks ago.
why wouldn’t current Twitter investors accept this wholeheartedly? It’s a good premium on what they valued the company as a few weeks ago?
To answer my own question, from a quick Google search, the stock was at $70+ a share in the past 12 months, and if investors thinks it's likely to return there soon, they have no incentive to sell at $50.
Most shares are held by institutional investors who can only re-balance their positions every quarter or so. This is fucked up levels of fucked up finance law breaking though.
This current stunt by Eton is flagrantly violating multiple SEC statutes by a majority shareholder. If the Attorney General Garland wanted to, he could have Musk thrown in a DOJ lockup facility in Dallas/Ft. Worth within the hour. He won't though.
Not anymore, they've sentenced him for inflating the worth of Tesla shares in the past, up to the point where he wasn't allowed to tweet without consulting a lawyer first. ofc he very publicly ignored that and nothing happened.
Lmao even if they did enforce that, got to love that being a rich person violating laws means the only consequences are having to pinky swear you'll try harder not to next time
And if he's saying he plans to buy the whole thing up they know that's gonna raise the price even more so if he wants all those shares he's gonna pay a hefty premium cause they all know he wants them now. Assuming he's not just trying to manipulate the price for a pump and dump. Get retail and other investors in thinking it's gonna be a quick buck then he sells everything at the higher price leaving all the new investors holding the losses. It's like, stock manipulation 101.
I was gonna say something about him botting stuff that’s supports his dumbass but he already does that lol
probably he will fill the website with fake tweets/retweets by people you know or fake accounts that get mysteriously inserted into your feed that 24/7 trick cryptobros into buying whatever he's pumping.
Or become informed that's illegal and then quickly scrambles to find a way to do it anyways or make up a new agenda.
He's not gonna be allowed to buy it most likely. If he does, he will get a stern talking to from the SEC threatening him over Tesla shit unless he enforces even more draconian censorship under the guidance of the Atlantic Council.
Taking Twitter private also means that he won't have to reveal the ghosties he hires to moderate.
oh no! the SEC! Elon is finally going to meet his match
hehe... I wonder how many "elon bad" and "tesla bad" tweeters will get their accounts banned within days of this going through?
I'm more excited about the site being rebranded as "ChatX", while the interface gets a bunch of weird glitzy animations that screw up on any device not using 5G
I still don't understand Tesla's valuation. The big automakers are pretty much caught up on the electric tech and nearly there on self-driving. But Tesla's valuation only makes sense if investors think Tesla will eventually dominate the auto market - or something else. And the only plausible "something else" I've heard is the thought that Tesla will eventually be the world's vehicle/building battery supplier. And even then...
(And fuck capitalism it's gonna collapse on itself at some point, but that doesn't mean stock market valuations are entirely irrational)
What is a stock if not an NFT?
I think Tesla and Tesla products (Solar shingles/power wall) have been good for the market in that some other brand says "Hey I can do that for cheaper" For instance the Solar shingle from tesla is shit and horribly estimated, where other companies are coming out with much better solutions that are actually viable, and have rode the hype to get it to market.
Their cars also highlight how shit their QA process is compared to more contemporary vehicles at a similar price point.
This is completely removing the scope of how employees are treated. Which ya Gulag. SpaceX and the like should not exist and should not need to exist. Again Gulag.
The cult of personality is his brand at this point I guess and he can do whatever he wants now. SEC can't touch him clearly.
Absolutely, but watching the solar roof tiles finally take off has me excited regardless.
It's the credits, the ev credit system is based on what percentage of production is electric. With Tesla it's 100% so every car they make gets the maximum credit (like $10k or something) meaning they're selling a car that they get paid by the government to produce for pure profit.
They can also sell those credits to other automakers and casinos apparently so it's just a giant racket for expropriating public funds
Redditors have money, buy cars and act against their material interests.
He's just pumping up the price of his 10% share before he dumps it.
The board just won't accept his offer, and he'll piss away a couple billion on this charade and go sulk. He's a little weakling who's showing his ass way too early, so he has zero leverage and the Twitter management can just laugh in his face. This isn't about money anyway, none of their investors will care that they "gave up a huge offer".
Guy known for using Twitter bots is buying Twitter in order to "transform" it? Great!
[edit] maybe we can at least get Trump back??
Twitter (much like Reddit) was always a site swarming with bots. This is a bit like Bezos buying the WaPo. It won't change what the outlet does, just who it panders to.
I wonder if he can? Like wouldn’t selling off Tesla stock cause the rest to drop in value?
Or is he going to get a loan?
Either way, he’s going to be the founder of Twitter.
It's 40 billion down the drain because he'll get regulated out of existence within 12 months of purchase.
I thought they added him to the board to protect against hostile takeover (not sure how that works though) - guessing the protection is like the whole liberal decorum BS that has no recourse if he simply ignores it (much like Trump did all the time)
Elon doing speedrun on showing how neolib 'financial order' is just a big dumb house of cards glued together with hype
