Elon Musk says he is overpaying for Twitter but there is potential
However, Musk also believes that he has a lot of money to acquire Twitter
Tesla CEO Elon Musk, who had previously backed out of a $44 billion deal to acquire Twitter, sees a lot of potential in the website.
However, Musk also believes that he has a lot of money to acquire Twitter. Even though Musk had earlier backed out of the deal, he is now religiously pursuing the deal.
During a quarterly call, Musk called Twitter an asset that has languished for a long time. "Myself and the other investors are obviously overpaying for Twitter right now.
The long-term potential for Twitter, in my view, is an order of magnitude greater than its current value," he said.
Musk is rigorously trying to raise funds to acquire Twitter. Market experts have predicted that he may have to sell about $3 billion more in stock.
A couple of days ago, Musk shared a hilarious post urging people to buy his perfume to help him buy Twitter.
Although Musk did not intend to raise funds by selling his perfume, a lot of his followers took his post quite seriously and bought the perfume. In no time, his perfume "Burnt Hair" went out of stock.