However, much of his money is tied up in Tesla stock - he owns about 17% of the company, which is valued at more than $1 trillion. Musk is the world’s wealthiest person, according to Forbes, which puts his fortune at $279 billion. The company’s leadership initially tried to fend off the bid, adopting a “ poison pill” measure that would make a hostile takeover difficult.
News that the world’s wealthiest man was set to buy one of the biggest social media companies rocked the internet on Monday.Īfter days of uncertainty around the platform’s future, Twitter’s board approved Elon Musk’s approximately $44-billion offer. Good morning, and welcome to the Essential California newsletter.
