A season of expectations has given way to yawns, but then many saw it coming. The world’s wealthiest man Elon Musk is no longer buying Twitter.
Months back, Twitter stock had jumped on news that the Tesla boss was about to purchase the company and even made an offer. But much has changed since then, and Musk is moving on without adding the microblogging platform to his portfolio.
Many reasons have been adduced for the volte-face about the failed Twitter, the most obvious being a misrepresentation. Musk had accused Twitter of not giving an accurate[icture of the number of spam or bot accounts on the platform.
This lack of clarity at the outset had made the world’s wealthiest man reconsider his bid. But things appeared to have taken a radical turn right now, with Musk completely scrapping the idea of purchasing Twitter.
In the early days, though, several entities, including Binance, had shown support for Musk’s Twitter bid. However, with the news that the Boring Company boss will no longer be going ahead with the purchase, some analysts expect the Twitter stock to crash a bit.
If that should happen, it would be a testament to the power Elon Musk commands as the wealthiest man in the world.
