Elon Searching for Investors Gullible Enough to Pour More Money Into Twitter

In 2022, Elon Musk placed a bid of almost $44 billion to acquire Twitter, which he then tried to worm out of. With his back against the wall after a brief skirmish in the courts, Musk chose to honor his original purchase agreement and take over the platform. Flash forward to the present day, and X-formerly-Twitter has lost upward of 79 percent of its original value after neo-Nazis flocked to the platform and big-name advertisers fled in droves. Now, in a somewhat rare move for the richest man on Earth, Musk has taken to beg investors for more funds at a valuation of at least $44 billion, according to reporting by Bloomberg. That's the same price Musk acquired it for nearly two years ago — a pretty bold move, to say the least. Needless to say, at this price, Musk's valuation far exceeds the company's estimated value, which was $9.4 billion as of 2024, according to Fidelity Investments. By all accounts, the billionaire's tenure over the platform has been a financial disaster, incurrin ... Read full article.