Elon Musk paid a big price to become the owner of Twitter, a loss of 1 thousand crore dollars, know why?
Highlights
After a process that lasted for 6 months, Elon Musk completed the deal to acquire Twitter.
Musk has acquired Twitter for $ 44 billion under an old deal.
After a drop of $ 1000 million in net worth, his wealth has decreased by $ 6600 million.
New Delhi. The Twitter deal has cost American billionaire businessman Elon Musk. Because this deal has dealt a major blow to Musk’s net worth. According to the Bloomberg Billionaires Index, this deal has reduced his net worth by $ 1 trillion. However, Musk said that he did not buy Twitter to make money but to help humanity.
In April this year, Elon Musk made a deal to buy Twitter. Under this, Musk had decided to buy shares at a price of $ 54.20. But after 6 months, this deal of Musk is looking expensive, the reason for this is economic uncertainty in America and increasing interest rates, due to which the earnings of many companies have been affected.
Musk’s net worth drops by $1000 million
The SoulActive Social Media Index, which tracks the performance of listed social media companies, has slipped nearly 40 per cent. Twitter’s value in the Bloomberg Wealth Index has dropped so much, and thus Musk’s net worth has also slipped.
Also read- Musk led a team of data engineers of Twitter, wrote this by sharing the picture of 2 members of the team
According to this, after a decline of $ 1000 million in Musk’s net worth, so far this year in 2022, his wealth has decreased by $ 6600 million. Shares of Musk’s giant electric vehicle company Tesla have slipped 35 percent this year.
long wait deal
Let us tell you that after a tussle between Twitter and Musk for almost 6 months, on Thursday, Musk finally completed the deal to acquire Twitter. If Musk does not do this, then the court hearing in this case starts from October 28. Musk has acquired Twitter for $ 44 billion under an old deal.
At the same time, only after the completion of this deal, he has started making many big changes. Only after the acquisition of Twitter, Elon Musk fired the entire team of data engineers. Many of these employees were seen taking goods out of the Twitter headquarters on Friday.
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Tags: business news, Elon Musk, Twitter
FIRST PUBLISHED : October 29, 2022, 16:50 IST
