Famed short-seller betting Elon Musk tanks Twitter stock by slashing his takeover bid

Famed short-seller betting Elon Musk tanks Twitter stock by slashing his takeover bid

Quartz

A four-step business plan for Elon Musk as he prepares to buy Twitter

Elon Musk may be the world’s richest person, but he still needs money from investors to buy Twitter for $44 billion. The CEO (and largest individual shareholder) of Tesla has promised to take the social media company private in a deal valuing Twitter 38% premium above the share price. In a pitch deck shown to investors in recent weeks, according to the New York Times, Musk has said he will cut Twitter’s reliance on ads to less than 50% of revenue (down from about 90%), while quadrupling Twitter’s user base and revenue to 931 million and $26.4 billion, respectively, by 2028.

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