corporate information, it’s hard to find large firms that aren’t aware of, and officially have been on, Twitter for years. Musk doesn’t have a history in Twitter’s other business, advertising.
Plus to justify the roughly 30% jump in valuation, Musk would have to bring some 65 million new followers onto the platform. That’s more than Twitter has following its own official account. Already at 6 times, Twitter's enterprise value-to-estimated sales is nearly 40% more than Facebook parent Meta Platforms
according to Refinitiv. Musk has brought Twitter hype. But in less than 48 hours, he’s fully cashed in on it.- On April 4, Twitter appointed Elon Musk to the company’s board of directors. A Securities and Exchange filing earlier in the day said Musk, chief executive of Tesla, had acquired a 9.2% stake in the social network. The holding, through a personal trust, made him the social media company’s largest shareholder.- Musk has previously criticized Twitter on its own platform.
- Musk last month asked a federal judge to set aside a 2018 agreement with the SEC requiring that Tesla lawyers approve tweets and other public statements that could be material to the electric-car company which Musk is the CEO.Register now for FREE unlimited access to Reuters.comOpinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Breakingviews rob_cyran We drive giant SUVs, watch a lot of football and lionize guys like Elon Musk. The 60s, RIP.
Breakingviews rob_cyran Twitter investors should take a long hard look at how many people see Musk for who he really is.
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