According to the Forbes Real-Time counter, on the first day after he agreed to buy a social network with Twitter, the net worth of Elon Musk, founder of SpaceX and Tesla, fell by $ 29 billion.
The reason for such losses was the decline in the value of Tesla shares. As a result of Tuesday’s trading, the company’s securities fell by over 12%. This is the biggest daily decline since February 2020.
Musk said on April 4 that he owns a 9.2% stake in Twitter, and on April 14 he said he was willing to buy all 100% of Twitter stock at $ 54.2 apiece. Twitter on the same day promised to consider Musk’s proposal. Hours later, Saudi prince Alwaleed bin Talal, who owns a stake in the site, rejected Musk’s offer, calling it inconsistent with the company’s true value.
On April 15, Twitter’s board of directors passed a shareholder protection plan (the «poison pill») to prevent Musk’s unwanted takeover. The plan was to run until April 14, 2023. The media later reported that Musk was looking for ways to finance the purchase of Twitter and plans to invest his own $ 10-15 billion. Musk said he is willing to pay $ 46.5 billion for Twitter and wants to start negotiations immediately to reach a final agreement.
In late April, the company announced that Musk had bought a social networking site for $ 44 billion, RIA Novosti reported.
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