Buying on Twitter becomes a minor matter for the Tesla boss

Taking over Twitter seemed like a simple affair for Elon Musk. He quietly bought the platform until he became the largest shareholder, then made an offer to buy the entire company and presented a financing concept – it looked like a plan. But the project has stalled and has even been put on hold, with the billionaire showing moderate interest in his latest project. He recently mailed out that he needs less than five percent of his time to trade on Twitter.

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The remaining 95 percent is spread over many topics. For example, on Friday, it was reported in the media that Musk allegedly molested a flight attendant and paid her $ 250,000 in 2018 for her silence. Musk denies this: “And, for the record, these wild allegations are absolutely untrue.”

He believes that attacks on himself are politically motivated. Over the past few days, he has criticized President Joe Biden’s Democratic Party in several tweets, eventually calling it “the division and hate party.” “He will continue to fight for a good future and your right to freedom of speech,” he wrote on Twitter, “and will vote for the Republican in the future.

Tesla CEO Elon Musk has suspended purchases on Twitter for the time being

It is not clear whether Tesla’s boss will easily break the agreement with the social platform.

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Get out of the ESG Sustainability Index

At the same time, the Tesla founder cursed that the electric car manufacturer’s share had dropped from the S&P 500 ESG sustainability index. Auditors use the social criteria – “S” in ESG (Environment, Social, Governance). They relate, inter alia, to to allegations of racism, complaints about poor working conditions and the lack of investigation into accidents involving the “Autopilot” driving assistant. At the same time, however, the oil company ExxonMobil is in the front ranks.

Musk is also targeting Twitter leaders: he posted a photo where management wanted to shoot him as an undesirable witness because he was asking about the actual number of users on the platform. “What, are they all robots?” Asks an astronaut named Elon. “It’s always been like this,” says another, labeled “Twitter board,” pointing a pistol at him.

Musk recognized the so-called bots considered a key issue in hijacking Twitter. This means automatically generated tweets behind which there is no real participant of the platform. According to Twitter, they account for less than five percent of short messages. Musk estimates the stakes are much higher and will only continue the deal once Twitter has verified its claims.

However, the dispute also shows that the 50-year-old didn’t take a detailed look at the company before buying Twitter stock on a grand scale and then making a company-wide bid for $ 44 billion. There was no due diligence, which lasts for weeks and is even mandatory in such cases.

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Musk, Tesla and bots

The topic is also explosive as bots have reportedly been bringing Tesla to the fore on Twitter for a long time. Manager Magazin cites a study by the University of Maryland which found that tweets of key messages from a car maker were automatically disseminated on a large scale. “One thing is clear: no one against Tesla did it,” quotes the author of the study, which, according to the report, is to be presented at the Oslo congress in mid-June.

Since Musk held the takeover on hold for the time being, observers have wondered if he wants to lower the price or withdraw from the deal altogether. At the conference, Musk said a much higher proportion of bot accounts would be a serious deviation from the company’s disclosures, which would allow him to change or withdraw his offer. Sam said he was still interested.

Investors in Muska’s largest company, Tesla, are skeptical about the project. They fear that as a result, the Tesla creator will care less about the car manufacturer. The company owes much of its market value to a charismatic leader. In addition, uncertainty about his stake in Tesla is growing: the founder would have to sell or mortgage the shares to finance the purchase on Twitter.

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For little money on the bus and train through Germany: a 9 euro ticket arrives. The federal government wants to convince more people of the benefits of local public transport. The only problem is that public transport currently has few advantages. Nevertheless, the bait campaign could change the country, believes RND author Imre Grimm.

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Skeptical investors

This way, investors keep their distance. At the end of last year, Tesla’s stock had skyrocketed to over $ 1,200 and the company was worth over $ 1 trillion. The price has meanwhile dropped below $ 700, and since Twitter’s plans were revealed, it has dropped almost 40%. In the already weak environment of technology companies, Tesla lost significantly above average.

It’s also hard for Musk, as most of his billions are in Tesla stocks. He will also need them to secure his Twitter purchase credits. With decreasing value, it becomes much more difficult, because he received funding guarantees from banks at much higher rates. In his numerous Twitter messages over the past few days, Musk has repeatedly emphasized that all his attention belongs to Tesla: “Tesla is on my mind 24/7.”

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