The deal doesn’t look so rosy any more after the tech sector dropped 20% this year and the Tesla CEO’s personal wealth plummeted $65bn, writes shapshak.
Elon Musk is trying to back out of buying Twitter, claiming it has misrepresented its spam problem. But few believe that is the real reason the world’s richest person has said he will “terminate” the purchase agreement.
Musk made a sudden offer to buy Twitter on April 14 for $44bn, having bought up 9.2% for $2.64bn to become its largest shareholder. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rwanda: Former Top Rwandan Official Bucyibaruta Sentenced to 20 Years for Role in 1994 GenocideA French court has sentenced a former senior Rwandan official to 20 years in prison after finding him guilty of complicity in the bloody 1994 genocide that resulted in hundreds of thousands of deaths.
Read more »
Numsa demands 20% pay hike in auto sector, warns of strike if refusedNumsa general secretary Irvin Jim says workers are demanding a double-digit increase, but ‘negotiations are give and take’
Read more »
Euro breaks $1 for first time in 20 years – bulldozed by an unstoppable dollar | BusinessinsiderThe dollar has surged this year as the Fed hikes interest rates aggressively. These three other major currencies have, or could soon, slip below $1.
Read more »
Numsa demands 20% pay hike in auto sector, warns of strike if refusedNumsa general secretary Irvin Jim says workers are demanding a double-digit increase, but ‘negotiations are give and take’
Read more »
Nigeria: Buhari's Inaction Threatens 2023 Election Activities As 20 RECs RetireThe tenures of 11 of the RECs came to an end on July 6, nine others are due for retirement next month, while one exited in April.
Read more »