Tesla and SpaceX CEO Elon Musk now also owns the social media platform Twitter. The businessman managed to buy the company as a result of negotiations that have been going on for a while. However, this situation caused Tesla to experience a record loss of billions of dollars in value.
Truth Social statement that surprised Elon Musk
Elon Musk, who has not even passed 48 hours since he bought Twitter for $ 44 billion, surprised him with his Truth Social statement.
Tesla lost record value as Elon Musk took Twitter
The Twitter relationship with Elon Musk, which is closely followed by the whole world, has been made official recently. The businessman, who entered the company with a 9.2 percent passive share in the first place, aspired to the whole platform, saying that it needed to be privatized later, and although his offer was not warmly welcomed at first, he succeeded in achieving his goal afterwards.
However, Elon Musk’s purchase of the platform did not work well for Tesla, according to the latest developments. Because the company experienced a $ 126 billion decrease in its market value after the allegations that the business person would sell shares in this process. Shares of the company fell 12.2% on Tuesday. This drop of $ 21 billion, interestingly, corresponds to the cash that Musk has committed in the deal.
Elon Musk has agreed to pay $54.20 per share to buy Twitter. This will cost the business person $43.4 billion in cash. Certain funds for the deal are expected to provide $12.5 billion in margin loans against their stake in Musk-owned companies. In addition, it is thought that the business person will take 13 billion dollars of loans from financial institutions such as Morgan Stanley and use approximately 21 billion dollars of equity capital.
So what do you think about it? Do you think this decline in Tesla will continue in the coming days? Do not forget to share your views with us in the comments section or on the SDN Forum.