Elon Musk thinks he will pay “too much” for Twitter, but he still believes in the long-term potential of the social network that he is supposed to buy at the end of the month for $44 billion if he wants to avoid an unprecedented lawsuit.
Asked on Wednesday about the situation with Twitter, he said he was “excited” because it is a product he “knows incredibly well.” The billionaire was fielding questions from financial analysts at the quarterly earnings call for Tesla, his electric vehicle company.
“I am not an investor”
The capricious leader had made a grudging takeover offer accepted by Twitter in late April, before attempting to unilaterally opt out in early July, accusing the company of lying to him.
The social network filed a complaint and Elon Musk finally assured at the beginning of the month that the transaction was really going to take place, ten days before the start of the trial. The judge postponed the process and gave both parties until October 28 to complete the transaction.
On Tuesday, analysts also asked the world’s richest man if he planned to unite his various companies (Tesla, SpaceX, Neuralink…) and Twitter under a single brand, like Berkshire Hathaway, Warren Buffett’s holding company.
“I’m not sure there are synergies,” Elon Musk replied. “I am not an investor. I am an engineer, specialist in industrial production and technologies. I work in the design and development of products. I don’t see a clear way to bring (them) under one entity, not in this scenario anyway.”
Source: BFM TV
