Famous Shark tank investor Kevin O’Leary during a recent interview was seen talking about controversy around Elon Musk given the Twitter deal. Apparently, the investor was on the side of the Tesla CEO and showcased optimism for the deal.
According to O’Leary, the Twitter deal is likely to take place following the 44 billion USD offer of Musk and it will also fall in his favor. He said to watch the centibillionaire for a long time and considered him a Teflon man.
The investor thinks that Musk can multitask and bets on him regarding the deal. He thinks all what was expected had happened and not the Tesla CEO will have a positive outcome from it.
For context, in April 2022, the world’s richest man with approx 219 billion USD worth of wealth proposed to buy social media platform Twitter. However, with development the deal became more complex and eventually turned into a legal dispute following Musk’s refusal to go ahead within the deal.
Musk offered about 54.20 USD per share to buy Twitter and as per the recently reported development in the case, he anticipated to return to the original deal and avoided the litigation. However, the social media company did not take it and the judge at the Delaware court also gave Musk till October 28th to close the acquisition in order to avoid a trial within the court.
Meanwhile, O’Leary thinks as soon as the issue gets resolved, Musk will take the ownership of Twitter and he will work towards improving the user experience. Twitter is currently falling behind since many users are not evident to post regularly on it and given the growing popularity and demand of video content platforms, the microblogging platform is losing ground.
While comparing Twitter with other popular platforms within the social space, he said he uses the platform himself and also looks at the other social media companies like LinkedIn, Instagram, Facebook and TikTok, etc. He claims Tiiwtter to be a terrible company as it is the worst of them all when it comes to spreading some message out in the world.
Twitter noted in its annual report of 2021 about its average daily users in the fourth quarter of the same year which were around 217 million. On the contrary, By December 2021, all the platforms falling under the umbrella of Meta—including Facebook, Instagram and Whatsapp—had about 1.93 billion users on an average.
Shark tank investors think the price Musk is offering is 40% more than what it should be ideally. He added that once owning the company, Musk would use his influence and popularity over Twitter which would eventually be making an impact on his already established companies.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/10/10/shark-tank-investor-siding-elon-musk-on-twitter-deal/