How Elon Musk’s plan to take over Twitter rocked Wall Street and social media

Elon Musk has held multiple roles as CEO of Tesla, CEO of SpaceX, and founder of Boring Company and Neuralink.

How Elon Musk’s plan is also a prolific Twitter user. So news that Musk had offered $44 billion to buy Twitter and potentially become CEO of a social media company sent shockwaves through Wall Street and social media.

“Forty-four billion remains a conundrum for a company that I think might cost nearly $30 or $35 billion,” Wedbush analyst Dan Ives said in an interview with CNBC. “But if you’re the richest person in the world, you can do it. And that’s why investors on Twitter, when they see $44 billion, pour champagne or drink their favorite liquor.”

However, the deal may still fail.

As continued stock market volatility wipes out millions of tech companies’ market caps. Musk said he would hold off on sales until it became more apparent how many fake Twitter accounts there were. Analysts believe Musk could use the debate to reduce the price of his proposed $54 per share acquisition. After so much value was drained from tech stocks in recent weeks.

And on Friday, Musk was embroiled in a scandal. He was taken to Twitter in response to a Business Insider report. t\That said SpaceX paid flight attendants $250,000 in compensation for a sexual assault lawsuit against him.

Twitter declined to comment on the allegations, reiterating earlier this week. That the company’s board of directors remained committed to the original agreement with Musk.