Elon Musk spoke about his first six months as a Twitter owner in an impromptu interview with the BBC.
Asked if he regretted buying a social media company, the world’s second richest man said “the pain levels are extremely high” and called his time as a manager “a real rollercoaster ride” but added that it it was “pretty good”. .
Mr. Musk’s reign on Twitter is controversial, to say the least. Since taking office in October, he has laid off most of the workforce and reduced the workforce from just under 8,000 to around 1,500. The site ran into technical issues and made unpopular changes such as: B. Planned to remove “outdated” blue checkmarks from verified accounts to instead only give them to people who pay for Twitter Blue.
However, Musk told the BBC that the company is now “roughly break even” as most of its advertisers have returned after the initial exodus.
That’s what his acquisition of Twitter added to his net worth and company value.
What is Elon Musk Net Worth?
Respectively Forbesreal-time list of billionaires, currently worth £189.1 billion, making him the second richest person in the world after Bernard Arnault, chairman of the LVMH empire of 75 fashion and beauty brands including Louis Vuitton, Sephora and Tiffany & Co.
His net worth has dropped from a peak of $219 billion in 2022 after he bought Twitter for $44 billion.
Mr. Musk also owns several other companies, including electric car maker Tesla, rocket maker SpaceX and tunnel-building startup Boring Company.
Between stock and options, he owns about 23 percent of Tesla, but has pledged more than half of his shares for loans. He provided most of the funding in the early days and has been CEO since 2008.
His rocket company SpaceX is valued at $127 billion following a May 2022 funding round and a commercial deal with NASA.
Boring, which claims to bypass traffic with underground tunnels, raised $675 million in April 2022 at a $5.7 billion valuation.
Mr. Musk was the CEO of PayPal during its early years. His ascent to the list of the richest people in the world was lightning fast. As of early 2020, he was the 35th richest person in the world before passing the likes of Bill Gates and Jeff Bezos to reach the top of the tree for the first time in January 2021.
He grew up in South Africa before moving to Canada at the age of 17. As an undergraduate, he attended the University of Pennsylvania and has since settled in the United States.
How much is Twitter worth now?
Twitter is now worth less than half what Musk paid for it six months ago, according to calculations based on a leaked memo he sent out to employees.
The memo says the company is now worth less than $20 billion. Investment company Fidelity has written off the value of its stake by 56 percent.
However, Mr Musk said he sees “a clear but difficult path to a valuation of more than $250 billion.”
In an interview with the BBC, he said that owning Twitter “has been a really stressful situation in the last few months.”
He added that he sometimes sleeps in the office, on the couch in the library, “where no one goes.”
Source: I News
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