Elon Musk has once again made the headlines for his purchasing prowess with his current bid to take full control of Twitter and make it private. Musk, who clearly does not need the best forex brokers, has decided that his next venture in the market is the social media site. With a bid made by the South African mogul the takeover is imminent but could this just be the start?
Elon Musk power
Musk is a controversial figure in the tech world and has had much difficulty in convincing many people that he is on the side of “good” when it comes to promoting business. With a net worth of $365 billion, Musk has created an empire from his work with PayPal, SpaceX and Tesla.
He is a devise figure but one that people will listen to, if they agree or disagree with him, and the bid for Twitter is just another sign of Musk flexing his muscles with his money on his next venture.
His current Twitter bid
The current bid has not been cheap and will cost Musk $54.20 a share. It has already been stated that the Saudi Prince Alwaleed bin Talal, who owns about 4.6% of the company will not be selling his shares for a full takeover as he has stated that the price does not fit with his valuation of the company
However, with stock prices going down it has been rumoured that Musk will change his bid from $44 billion and reprice with Twitter executives. Many felt the original price was right at the time but could see their share drop in price because of the lack of revenue that Twitter generated.
He is confident that he can change the fortunes of Twitter and quintuple the revenue of Twitter by 2028. It is a big challenge considering the recent share prices but if anyone is going to try and achieve it, it will probably be the richest person in the world.
Would this lead to anything more?
Twitter is one of the biggest social media platforms in the world and with Musk making this decision to purchase the majority of the company and shake it up it could lead to many more purchases.
There is a lot of speculation surround Musk and purchasing a sports team which is fairly normal considering his wealth. One club that has been mooted more than most is Manchester United in the Premier League. With them being one of the biggest clubs globally and the most marketable, Musk might see this as an easy way to make more money.
With SpaceX also taking up a lot of his time with plans to send the first crewed shuttle to land on Mars and SpaceX hoping to also launch a new kind of city-to-city transport aboard an earth-to-earth version, it could be sometime before another major investment.
However, the Twitter purchase felt like it came out of nowhere so who knows what he might do next!
