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Tuesday, May 17, 2022

Musk Twitter Deal Sinks Tesla by Over $125 Billion

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Elon Musk, who is listed as the world’s richest man, has an estimated net worth of $257 billion, according to Bloomberg, Two thirds of his wealth is from Tesla stock.

While taking over Twitter could be good for Musk the takeover has negatively affect Tesla’s stock. One day after Twitter announced it accepted Musk’s $44 billion takeover Tesla stock dropped 12.2% wiping out more than $125 billion of Tesla’s market value.

While its unclear how Musk will fund the Twitter deal speculation is swirling that if he liquidates Tesla stock to fund the transaction that Tesla stock would be further affected.

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