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With Elon Musk you never know. After announcing at the end of last month that he had reached an agreement for the total purchase of Twitter (in exchange for 41,000 million euros), the tycoon dropped on Friday that the acquisition was paralyzed until the platform offered “details that confirm the calculation that ‘spam’ or fake accounts represent, in fact, less than 5% of users’.
Yesterday the businessman stated, during a technology conference in the US city of Miami, that did not rule out getting a price reduction who agreed to pay for the little bird’s site. Well above its real value, currently pegged at just over $37 a share. Under the offer, he agreed to pay $54.20 for each.
Ideas that do not culminate
This is not the first time that the tycoon has announced that he has a plan only to put it on hold or, finally, piled on the pile of ideas that do not come to fruition, a short time later. In 2018, he dropped in a message from Twitter -as almost always- that he was thinking of privatizing Tesla, thanks to which he managed to make the value of the company soar. Ultimately, the intention was left on that. In a simple intention.
More notorious, however, have been the announcements of new devices and services that have not been fulfilled. Perhaps the best known is that of the robotaxis autonomous vehicles announced by Tesla in 2019. Then, Musk stated that by 2020 he expected there to be a fleet of more than a million such cars spread around the world. To date, nothing. The same thing happened with other Tesla inventions, such as the Cybertruck electric van, whose reservations have recently been paralyzed by the company due to problems in obtaining the necessary batteries and materials.
Much of the money from the purchase of Twitter comes from Tesla. Musk has even used the car company to guarantee the majority of the 41,000 million who, at first, agreed to pay in exchange for taking full control of the social network. Since the South African’s plans became known, the share price of his star company has gone from around $1,200 per share to currently stand at $724.
The tycoon points out that the agreement still stands. In case, finally, he wanted to break it, he would have to compensate the social network with the payment of 1,000 million dollars.
Without a defined plan
In recent weeks, several media outlets have shared information suggesting that Musk launched himself to buy the social network without being very clear about what he was going to do with it. To date, the entrepreneur has not shared any concrete information about the actual changes he plans to make to the social network. Beyond promises of transparency, freedom of expression and end-to-end encryption in direct messages, there is no exact data on the platform to which the Internet user will have access if the deal crystallizes.
And if it is not clear what the application will be like, there is not much information about the operation of the company either. A few days ago, ‘CNBC’ pointed out that the businessman would be considering the idea of becoming executive director of Twitter, since, for a few months, he has held Parag Agrawal. It has also been pointed out that he is studying the possibility of going public again within three years, at which time, he hopes, the economic situation of the company will be better than the current one.
www.abc.es
George is Digismak’s reported cum editor with 13 years of experience in Journalism