“Although, obviously, 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.”
— but the mercurial mega-billionaire believes the social network will be worth far more in the future.
On Tesla’s third-quarter 2022 earnings call Wednesday, Musk commented, Musk added that he’s “excited about the Twitter situation”: “I think it’s massive that this sort of languished for a long time, but has an incredible potential.” Twitter shares closed at $51.83/share Wednesday, giving it a market cap of about $40 billion. That’s under the $54.20/share that — after the world’s richest individual spent three months trying to back out of the pact. Twitter had sued Musk, seeking to enforce the terms of the merger agreement. The Delaware Chancery Court judge overseeing the case It’s not clear what specific changes Musk will make at Twitter, but he’s suggested.
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