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Correction: lost 72% of it's market cap, not "value" Elon bought himself a media company that he is using to help his preferred presidential candidate get elec
by ahmeneeroe-v2 2y ago
Correction: lost 72% of it's market cap, not "value"
Elon bought himself a media company that he is using to help his preferred presidential candidate get elected. If Elon/Trump are successful, I imagine that Elon himself will impute a lot "value" to the Twitter purchase
Hard to accurately value a "kingmaker" like Twitter in traditional finance terms, but Elon (and his backers who will get Tesla stock) do understand what is at stake.
- jrflowers 2y agoRather than correcting this poster on HN you may want to email the relevant people at Fidelity with your thoughts, as the actual owners of Twitter have marked down the _value_ by 72%
- ahmeneeroe-v2 2y ago"Valuation" to Fidelity. My point is that Elon likely sees a different value. If Trump is elected, with Elon being is highest profile supporter, I imagine that Elon would be okay with having lost ~$33B in the Twitter acquisition. Crowning the President of the US is probably worth more than $33B to Elon.
- jrflowers 2y agoYour “correction” is that you imagine that one owner might use a different word in his head to refer to the value of a company than the word that another owner committed to public record?
- dangus 2y agoA billionaire using vast snowballed wealth to buy up a legitimate business and transform it into a mafia-like propaganda scheme for sale to the highest bidder may be profitable, but it isn't moral, admirable, or something we should be desiring more of. And Trump's creative campaign finance tactics should be illegal.
- deleted 2y ago[deleted]